The Dan Bongino Show - Terror In Colorado: Illegal Alien In Custody | Episode 55

Episode Date: June 2, 2025

In this episode, I cover the terror attack in Boulder, CO - Another tragic consequence of the open borders policy. Also in this episode: Economist EJ Antoni joins the show. CNN’s Sick Reaction to the Boulder Terror Attack ⁠https://pjmedia.com/matt-margolis/2025/06/01/cnns-sick-reaction-to-the-boulder-terror-attack-n4940354⁠ Rep. Jasmine Crockett Says Democrats Will Subpoena Musk If They Retake House ⁠https://www.theepochtimes.com/us/rep-jasmine-crockett-says-democrats-will-subpoena-musk-if-they-retake-house-5866260?utm_source=partner&utm_campaign=BonginoReport&src_src=partner&src_cmp=BonginoReport⁠ Massachusetts Democrat Pushes Free Health Care for Illegal Aliens ⁠https://townhall.com/tipsheet/saraharnold/2025/06/01/democrat-pushes-free-health-care-for-illegal-aliens-denies-it-encourages-border-surge-despite-evidence-n2657950⁠ Learn more about your ad choices. Visit podcastchoices.com/adchoices

Well, here we go again, another big show. Vince here with you on a Monday. Great to have you with us today. As always, this massive show includes a look at a terror attack that just took place in Boulder, Colorado over the weekend, how this disgusting illegal alien terrorist committed this act of terror, how it all went down, who the victims were, and how the media are already

lying about the details here. We'll also take a closer look at the FBI, a massive, massive piece of journalism over the weekend designed to attack Cash Patel and Dan Bongino actually reveals that something very interesting and very good and important is going on inside the Federal Bureau of Investigation. Also, the border is being locked up.

We talked to Tom Homan about this on Friday, and fentanyl not coming across the border anymore. And the media are scratching their heads. Why isn't the fentanyl coming in? We'll explore the details there. And the great E.J. Antony, the in-house economist of this fine program is here with us today. We got a lot to get to.

And I am always so grateful that you're here for all of it. Appreciate you and appreciate the sponsors of this program that help make it all possible. You know, if there's something all of us can believe in, it's hard work, self-reliance, and showing up for the people who count on us. But you know, a while back I hit a wall. I was getting terrible sleep and then dragging myself

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Try their best-selling Dream Powder. Get up to 40% off for a limited time right now. Go to shopbeam.com slash Vince Show, use the code VinceShow at checkout, that's shop B-E-A-M dot com slash VinceShow, use that code VinceShow for up to 40% off. Okay, terror attack taking place Boulder, Colorado, yesterday afternoon.

This is where each and every week there has been a peaceful demonstration on the part of Jewish people, I would imagine predominantly, who are there supporting the release of hostages from Gaza. Hamas, the terror group that runs Gaza, of course, has taken so many hostages into their custody and has been imprisoning them. And naturally, ever since October 7th, there has been a steady drumbeat of normal people who would like to see Hamas release the hostages.

And so that's what was happening, as it does each and every week in Boulder, Colorado, this weekend. But what happened next was a complete act of terror. An illegal alien, yes, you heard me correctly, an illegal alien conducted a terror attack on these people, injuring eight of them in a horrific attack which involved lighting a flammable substance on fire. Witnesses believe it smelled like gasoline. And then lighting the people who were in the crowd.

Eight people, eight people, all from their 50s up, were injured in this horrific attack. On screen, on the video version of the podcast, what you're seeing and what you're hearing here on the audio version, are people screaming at the attacker. The attacker there, the illegal alien from Egypt, he's shirtless, he's holding two Molotov cocktails in his hands that remain unused, apparently.

He was throwing Molotov cocktails at these people, and behind him in the video that you can see here, in addition to the pride flag that somebody hung up on the building behind him, is right there, there's a container behind him. That plastic container, take a close look at this. That plastic container that's behind him is a backpack garden sprayer. Witnesses described him as wearing a garden sprayer

as he was conducting this attack, because obviously what it contained was a flammable substance, presumably gasoline, inside of it, and he lit it on fire and he was spraying it in the direction of these poor people, lighting them on fire, burning their clothing, their skin, their hair, burning them. This horrific attack, and in that video, of course, you can see that backpack sprayer behind him.

That's what the media are describing as a makeshift flamethrower. So this is the latest such terror attack on people who are, let's be honest, being attacked because they are Jewish. That's what's happening here. So an anti-Semitic terror attack taking place yesterday in Boulder, Colorado.

Now, let me start with some of the basics of the early hours of how various law enforcement agencies responded to this. The cops eventually got there, the local Boulder police. Now we're gonna find out at some point how long it took their actual response time. But some of the witnesses were claiming it was something like 10 minutes. Now you probably know by now but should know

that in any moment of chaos it's actually very hard for even eyewitnesses who are standing right there, especially eyewitnesses, to measure the passage of time. When your adrenaline gets fired up sometimes mere seconds seem like they last minutes. So perhaps the cops showed up faster than they're being given credit for, but there were witnesses who claim that it took about 10 minutes for the police to show up.

And regardless of how long it takes cops to show up, guess what didn't happen in this terror attack? There was no armed bystander to open fire on a guy who was lighting human beings on fire. If this happened next to you and you were armed for self-defense, how quickly do you draw that weapon and put that man down before he can continue to rain this terror down upon the people in Boulder, Colorado? I would like to think in a moment, right? An armed American citizen who's there to defend his or her fellow American citizens themselves,

yeah, they would do that in a second. Yet none of that happened. There was no apparently armed bystander standing there ready to take this guy down. No one could. And this is once again a reminder that when seconds count, the police are minutes away. What will you do quickly? And there was nobody there to gun this guy down. It is crazy to me. If I see this happening,

if I see somebody and I'm armed for self-defense and I see this guy lighting old women on fire, I'm telling you right there, that guy's going down immediately. And that's what should be the response. And yet these people set on fire and now struggling for their lives. In fact, in the early charges here, apparently he has been charged with first degree homicide, although authorities as of this hour, we're at 10.09 AM Eastern time,

as we have this conversation, have not confirmed that anyone has yet died from this. But the eight victims, some of whom are fighting for their lives right now, we will pay attention to the details as they come in. The FBI responded very quickly to this. Sunday afternoon, Cash Patel began posting notes online about this. the FBI director saying, we are aware of and fully investigating a targeted terror attack in Boulder, Colorado. Our agents and local law enforcement are on the scene already, and we will share updates

as more information becomes available. The FBI director was not the only one to respond to this. The FBI deputy director, Dan Bongino, also instantly saying that FBI personnel are on the scene, along with the local cops, were investigating this incident as an act of terror. Of course, you see this guy screaming about Zionists and blaming Jewish people who are just peacefully

demonstrating for the release of hostages, blaming them for somebody's death somewhere else. This is insanity. And so rightly so, Dan Bongino, Cash Patel, the FBI saying this is an act of terror. If you have any investigative tips, please contact the FBI. And if you aided or abetted this attack, we will find you. You cannot hide.

While the FBI was saying all of the right things, local Boulder police were immediately, unfortunately, saying the wrong things. Look at the Boulder police spokesman here in cut one saying, we're not calling it a terror attack. This was in the early hours. Take a look. We're not calling it a terror attack at this point. Again, it's way too early to speculate to speculate motive you know I know there's a lot out there on social media but I ask people just to give us a little bit of patience while we work through a really complex scene a lot of witnesses were here we've taken them to another location to debrief them and interview them as we do that I think the picture will become more clear but it would be it would be irresponsible for me to

to speculate on motive this early on. We're only a couple hours into this thing. Yeah, it's not up to you. First of all, this guy is straight up yelling about his terror motives. It's obviously true from all of the eyewitnesses, the video. You can see why he conducted this attack in terms of his motivations. And also, look, you are the Boulder, Colorado police chief. I don't know if terrorism charges are at your fingertips, but regardless, your job is to handle

the local crimes that were violated and to give people updates on this guy taking the cops that you have working for you taking this guy into custody. That's your job. As far as terror goes, leave that to the officials who actually are saying that and charging that. Why do you even have to go down that road? We're withholding a judgment about whether it's terror. How about shut up? How about that? Because this is a terror attack. Don't lie to us. Don't lie to us. Why are you withholding on this subject? What could possibly be the motivation for that? These are members of your community, Jewish demonstrators who week after week

are calling for the release of hostages and have now been attacked because of who they are and what they stand for, which is decency. That's a terror attack. That's a terror attack. And you should have the balls to say that, Police Chief Boulder, Colorado. Wild.

Yeah, so the guy was arrested. Here's cut six. This is video of the cops showing up and getting this guy down on the ground and putting cuffs on him. Take a look at this video of the arrest. Where you fucking belong? And you, you're gonna tell me, I don't give a fuck. You don't even tell me. You see in the original. Where you fucking belong? And you, you're going to jail, man. I don't give a fuck. You don't even have a shit. You don't even have a shit. You don't even have a shit. You don't even have a shit. You don't even have a shit.

You don't even have a shit. You don't even have a shit. You don't even have a shit. You don't even have a shit. I do not know what these guys are arguing about. There's water being poured onto the body of a poor woman who was just set on fire at this hour, her condition unknown, and she's being doused and being cooled by that water. Apparently the bystanders who were there, including people who were at a restaurant across the street,

they ran out, they grabbed buckets and they went to the fountain that was right there by the building and they were hauling water from the fountain in order to douse the flames that were all over these poor people. All over them. In the background you see of course the police officer. He's got the terror attacker in custody putting handcuffs on him. And that's the way it went down. Yeah. Look at the buckets of water here in the foreground as people are trying to put this poor woman out and take her

out of her misery here in terms of getting that, the feeling of that burning off of her skin. I just can't even imagine one of the most horrific things that could possibly happen to a human being. And there's the suspect on the ground taken into custody by the first cop who showed up there. Not in this video, but moments later, yet another cop showed up with a long gun and urged people to get back and away from the scene. But a terror attack here in the United States of America. This is the media. Let's talk about who this guy is now,

because the media are really not dwelling on the subject with any meaning whatsoever. This is an Egyptian national who was let into the country two years ago. He came into the country two years ago. This would be under Joe Biden and he overstayed his visa. His name is Mohammed Sabri Salman. He's 45 years old. He was, as you know, arrested at the scene, Fox News reporting on this, after he set his victims on fire,

as they of course peacefully rallied on behalf of Israeli hostages, still being held by Hamas in Gaza. He was heard yelling, once again, this is a terror attack, free Palestine and other anti-Israel slogans, again, blaming Zionists for the deaths of people in Gaza, and so therefore these poor demonstrators deserve to have themselves set on fire based on his warped logic.

Department of Homeland Security and Immigration and Customs Enforcement sources telling Fox News that Salomon is in the country illegally. He's a visa overstay. He came in under a tourist visa during the Biden administration. He flew into the United States in August of 2022. He arrived at LAX on a B1, B2 non-immigrant visa. Solomon was authorized to stay through February of 2023, but he never left. That is, he's here illegally now.

He overstayed his visa. On September 29th of 2022, he filed a claim of some kind, possibly for asylum, Fox reports. On March 29th of 2023, U.S. Citizenship and Immigration Services under the Biden administration gave him work authorization, which was valid through March of this year, which means he no longer has that work authorization anyway.

So wait a second. The guy was here under a tourist visa. He overstayed the visa. Then he filed for asylum. Am I understanding this correctly? And it was granted asylum from Egypt. On what basis are we taking refugees from Egypt? Why in the world would an asylum claim from Egypt qualify,

including after he was already here illegally in the United States of America? And then he was granted work authorization? How demented could the Biden administration possibly get? And so now you get yet another illegal alien conducting a terror attack on American citizens, could the Biden administration possibly get? And so now you get yet another illegal alien conducting a terror attack on American citizens, on American soil, and none of this had to happen.

None of it, none of it would have happened had the Biden administration not let this guy in. So that's what's actually going on. Stephen Miller at the White House is describing this accurately as suicidal migration. Stephen Miller posting overnight, a terror attack was just committed in Boulder, Colorado by an illegal alien.

He was granted a tourist visa by the Biden administration and then he illegally overstayed that visa. In response, the Biden administration gave him a work permit. Suicidal migration must be fully reversed. Suicidal migration must be fully reversed. Suicidal migration. Stephen Miller is right.

There are a lot of victims of this type of disgraceful human trafficking into the United States of America. People like Lakin Reilly and Jocelyn Nungare. And now the victims of this attack, who would be of whole body today, who would be healthy today, were it not for the decisions that the Biden administration did to not only import illegal aliens, but then to not only allow them to stay here, but to also grant them asylum and work authorization here in the United States of America. them asylum and work authorization here in the United States of America.

Suicidal migration, Biden illegals. That is the correct terminology. Stephen Miller has been using it. And yet another terror attack. Now this terror attack happens, you can't decontextualize this. As the media does, we won't, we won't. Remember, it was a week and a half ago

that we just saw a socialist lead a terror attack on two Israeli diplomats right here in the nation's capital, walking up to a Jewish museum event and blowing away two beautiful young people in the prime of their lives, now dead. Were they responsible for anything? Did they attack or kill anyone? No, they were subjected to a terror attack here in the nation's capital. Another attack happened on Pennsylvania Governor Josh Shapiro as another deranged lefty anti-Semite attacked

Josh Shapiro's governor mansion in Pennsylvania merely because the governor's Jewish. These antisemitic attacks keep taking place. They keep taking place. And the media either make excuses for it or downplay it entirely. I've got, I've got, look, so for instance, here's one for you.

This morning, first thing this morning, the New York Times ran a summary piece on everything we know from the Boulder attack. "'Here's what we know,' they said. As of this morning, in the, who is the suspect section, Omri Sarin writing here, he works with Senator Ted Cruz, he writes, "'They had nothing on the guy's nationality,'

he's Egyptian, "'nothing on the guy's immigration status,' he's here illegally. Nothing about how he got into the country. He got here on a tourist visa that he overstayed it. When he got into the country, he got in under the Biden administration, et cetera. To the extent that his origin is even gestured towards it all, he's described as of Colorado Springs. You've seen this before, haven't you?

Oh, he's a Colorado Springs man. He's just an innocent Colorado Springs father. The media describing him as a Colorado Springs guy this morning. He is not. He's an illegal alien from Egypt. This is like the Kilmar-Abrego-Garcia saga, where Kilmar was described as a Maryland father instead of an MS-13 gangster from El Salvador, illegally in the United States. This is the media's coverup, once again on display.

One more for you, NBC News this morning. They had a headline, they've now changed it. But as of last night, it goes up and they write, multiple Gaza hostage awareness marchers injured in attack in Boulder. What are Gaza hostage awareness marchers? Is it too hard to use the more economical term? Jews?

Multiple Jews injured in attack in Boulder? They didn't say that. Why didn't they say that? Why the cover-up? Always. That's our media today. All right. Coming up, I got to take you inside the FBI. What's going on?

We've got some important reporting about the FBI you need to know about. E.J. and Tony, the economist, is going to join us as well. Stay with me. I've got a lot of really, really important stuff coming up. And I'm so grateful for you. The best damn audience in media, really are. Hey, while we may have won this election, the fight to restore our great nation is only just beginning. Now is the time to take a stand.

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And text that you make visit patreon mobile comm slash Vince or call 972-PATRIOT. Love Patreon Mobile. Thank you for your support, Patreon Mobile. All right. The chat all fired up about this, angry about the media's predictable. Again, it's not shocking, but it is appalling to see the way that the press covers all of this.

They're disgraceful, disgraceful. Also disgraceful, the Boulder police chief to come out and say, well, we're withholding judgment about whether or not this is an all of this. They're disgraceful, disgraceful. Also disgraceful, the Boulder police chief to come out and say, well, we're withholding judgment about whether or not this is an act of terror. What does he need to scream for you to know that this is an act of terror? It is crazy.

Yes, that's right. L. Souter saying this is Democrat Party propaganda news that's going on. And Carol, let me see, Carol Ann Royal writing on the chat, all fired up, all fired up about this. I don't blame you for that. It is crazy. Anita McGroin, the great Anita McGroin,

the media has zero credibility left to lose. They don't care at this point. Yes, that's right. They don't, they're brazen. They're absolutely brazen about it. Not shocking, but it is appalling. Okay. Speaking of the media and their distortions, I got to take you into something that our

buddy Dan Bongino is dealing with right now because this is an amazing, an amazing story that I absolutely love. Now check this out, that the New York Times has a report up this morning. Unease at FBI intensifies as Patel ousts top officials, the Times writes. Senior execs, so understand something here, as I'm about to go through this story with you,

the reason this story is so important is because the New York Times is portraying this in their dishonest way as, oh, Cash Patel and Dan Bongino are weaponizing the FBI. Danger lies ahead. Something awful is going on. But for those of us who care about the truth, the way to read this story is to understand all of the action

that's taking place right now at the FBI. That's the important takeaway from this. In other words, Dan and Cash are overseeing dramatic changes to an agency that desperately needs to be changed and fixed. And there's panic going on inside of the FBI among people who've never been held accountable before, who've abused their power or stood by as others did. And now there are very big,

meaningful, radical changes going on. And the way this news is coming out is the New York Times has sources who have always been for beating up on the American people, who've been wantonly being tyrannical as members of the FBI, and then work with their sources in the New York Times to dress up what they're doing, their tyranny as something that's righteous. Now they're panicking and they're going to their favorite reporters at the New York Times in order to convey their panic. So this story is amazing for a bunch of reasons, but I love what it tells us.

Unease that the FBI intensifies as Cash Patel ousts top officials. Now fellas, I'm gonna move here, so you're gonna have to move the focus of the screen. Before being confirmed as the director of the FBI, Cash Patel made clear his intent to remake it in his own image, the Times says, reflecting a larger desire by the White House

to bend the agency to its will. Cash wrote in his book, Government Gangsters, the FBI has become so thoroughly compromised, it's gonna remain a threat to the people unless drastic measures are taken. Well, yes, that's true. He asserted that the top ranks of the bureau should be eliminated. The Times says that behind the scenes, his vision of an FBI under President Trump is

quietly taking shape. Agents have been forced out. Agents have been forced out by Cash and Dan. Others have been demoted or put on leave with no explanation. And in an effort to hunt down the sources of news leaks, Mr. Patel is forcing employees to take polygraph tests going on. This has been going on the entire time Dan and Cash have been there. This is the New York Times in an all-out panic over the fact that they're

making these changes. Taken together, the moves are causing worrisome upheaval at the FBI. Good, I like worrisome upheaval at the FBI. I prefer it over worrisome upheaval in the United States at the hands of the FBI. The changes are eliciting fear and uncertainty as Mr. Patel and his deputy, Dan Bongino, quickly restock senior ranks with agents and turn the agency's attention to immigration. Their persistent claims that the Bureau was politicized under previous directors,

in addition to their swift actions against colleagues, have left employees to wonder whether they too will be ousted, either because they worked on an investigation vilified by Trump supporters or had ties to the previous administration. Good, good, I want them in a panic. I want you to be freaking out.

You deserve it. The actions have obliterated decades of experience in national security and criminal matters at the FBI, the Times laments, and raised questions about whether the agents taking over such critical posts have the institutional knowledge to pursue cornerstones of its work. This is all euphemistic bullshit.

What they're describing to you are that the power brokers in the FBI who are there as a part of the deep state from administration to administration, who feel like they've always been above the law, who've never been held accountable, who've never had anyone confront them for their tyranny are worried that their stranglehold on power is disappearing.

That's what that paragraph means. You can't read this and think, oh, oh, really? Institutional knowledge is disappearing. Criminality is going to run rampant because of this. That's not what's happening. You and I know that. You can smell it from 10,000 miles away. What's happening here? Dan Bongino, writing, the deputy director, writing on social media last week, the Times points out, the director and I will have most of our incoming reform teams in place by next week. The hiring process can take a little bit of time, Dan said,

but we're approaching that finish line. This will help us both in doubling down on our reform agenda, he wrote. The Times goes on to complain about the fact that Dan and Cash and the team are investigating the Dobbs leak from and Cash and the team are investigating the Dobbs leak from 2022, or that they're investigating the cocaine that was found at the White House and then summarily destroyed by a corrupt Secret Service, or the pipe bombs that were

found near the Capitol building on January 6th. The Times is upset about this. I'm not. You're not. This is the kind of accountability we've been looking for. They go on to quote Dan once again, the director and I evaluated a number of cases of potential public corruption

that understandably have garnered public interest, Dan said. Listen to the Times, oddly referring to the pipe bombs as a potential act of public corruption rather than domestic terrorism. There's nothing odd about that. What's odd is that the FBI gave up the hunt for the pipe bomber. Why did the media give up on the pipe bomber? Why did Kamala Harris, whose life

was allegedly imperiled by the pipe bomber, never talk about the pipe bomber during her ill-fated campaign for president of the United States? There's nothing odd about Dan's behavior. What's odd is the government's behavior. Right to call it public corruption. Then they go on to say that these are right-wing conspiracy theories and blah, blah, blah. This is all very stupid. And they say this, former and current FBI officials

are warning that attempts by Trump loyalists to mold the bureau to their worldview could ultimately have a chilling effect on agents seeking to open cases that could upset Mr. Trump or his base. They added that they viewed many of the personnel moves as retribution. Well, good, you should view the personnel moves as retribution.

That's what they are. Their accountability, their accountability, you need to be moved out. You need to be fired. And some of you need to be charged. I hope that happens. If it's within the statute of limitations, of course, these guys are following the law.

Mr. Pitella and Mr. Bongino have sent a clear message on previous FBI investigations that focused on Mr. Trump or his allies. In essence, former officials said nobody is above the law except Mr. Trump, once again, bullshit essence, former officials said nobody is above the law except Mr. Trump once again, bullshit on the part of the New York Times. President Trump is not above the law. In fact, he's been beneath it

when the left is wielding its power. In recent weeks, you ready for this? Here's the rundown of some of the great stuff. I love this article, by the way. I love it. It's not what the New York Times intended. In recent weeks, the FBI disbanded the Washington Field Office's

elite federal public corruption squad, which was best known for investigating Mr. Trump's efforts to overturn the 2020 election. In other words, for advancing garbage, political garbage. That's what this elite FBI unit did. So they've been disbanded. Something is happening, isn't it? Something is definitely happening.

The move, former and current agents say, suggests that investigations involving Mr. Trump could be out of bounds. No, politicized investigations, attacking people for their support of Republicans, that's out of bounds. Those extended to inquiries that might ensnare senior Trump officials, they claim.

When new leaders take office, they admit that they do wanna make changes to the agencies, but they're concerned that there's a significant loss in expertise going on at the FBI, is the claim, including the abrupt retirement of an official running an office established in 2020 to uncover and reduce the risk of misuse of national security surveillance,

arguably one of the Bureau's most important intelligence gathering tools. I'm sorry. What did the Biden administration do with the FBI when it came to national security surveillance? Remind me, what did they do? Oh, that's right. They spied on parents going to school board meetings.

They had FBI agents writing down their license plate numbers out in the parking lot. They treated traditional Catholics as if they are radicals, extremist terrorists for merely attending a traditional Latin mass. They treated American citizens who supported President Trump as deserving of SWAT teams at their doors. They destroyed the lives of anyone they possibly could.

And they did it under the guise of national security. Spare us your lectures, New York Times, about what it means to uphold national security. You people weaponized it against American citizens. Lastly, then I'll move on from here, but I just, as I celebrate this coverage, because I love what it actually reveals. The New York Times says, the Bureau's webpage,

that is the FBI's webpage, detailing the agency's leadership roles is in disarray with employees who have left still listed as working there. Now, the way The Times is describing this, the reason they want you to hear this is because they want you to think, oh, it's incompetent what's going on at the FBI.

It's so crazy that they're making all these changes, they can't even update their website. I'm here to tell you what the real takeaway is. They are firing people so quickly they don't even have time to update the website to let people know. That's what I want. That's the pace I want. That's the aggression I want. So a fun, fun piece from the New York Times here designed fun piece from the New York Times here designed to mislead you on what's going on, but instead revealing some very, very interesting developments going on at the Federal Bureau of Investigation.

We'll keep digging in on this subject, I assure you, because it matters a great, great deal. Coming up, I'm gonna talk about the economy with our in-house economists, the great E.J. Antony. We'll get to that in just a moment. In terms of the economics of this show, I've gotta thank our sponsors who make all this possible. Now, you're gonna think I'm describing

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The in-house economist for Vince, the Vince Show, and the chief economist at the Heritage Foundation, E.J. Antony, joins us right now. E.J. Vince, good to see you. There you are. Beautiful studio, by the way. My first time in here, I love it.

Thank you. Tell me more about how wonderful the show is. What about you? What about you? What do you think of me? Yes, I want to know about that. Thanks for being here. My pleasure. Thanks for having me. So I saw the Treasury Secretary Scott Besson was on television over the weekend and he had to remind one of the stupid hosts he was talking to that she thought that Trump's tariff plans were going to explode inflation in the United States. These tariffs are going

to wreck the economy. I love how the media suddenly discovered the role that government might play in inflation when Trump is in office, but that actually hasn't happened, has it? What has happened since President Trump announced all of these tariffs? What has it done to the economy? You know, we've actually gotten very, very good inflation numbers, in part because when we look at these tariffs, a lot of them haven't even been implemented. Just the threat of the tariffs alone was enough to bring countries to the table and to kind

of get everyone to call a truce. If you do get into some kind of really prolonged, you know, protracted, I should say trade war, then sure, you might end up seeing some of those price increases. But as of right now, that's that's not what's happening at all. And it's so ironic, Vince, the exact same people who for years told us Biden's policies aren't going to cause any inflation. And then obviously it did. Now tell us Trump's policies are going to cause all kinds of inflation.

These people are just perpetually wrong, but never in doubt. They're perpetually wrong, but never in doubt. Yeah, you're right about that. And I'm going gonna steal that forever. Okay, so when it comes to what's happening with the economy, we've actually, we've had some stabilization in prices, right? Mm-hmm. Yeah, absolutely. In fact, depending on which metric you want to use, some of it show this happened for the month of March, others for the month of April, so it just depends on which individual metric. We actually have a lot of

different ways to measure inflation, but several of them now have showed prices actually declining. In other words, inflation went negative. So we talk about inflation a lot and say, OK, inflation came down. What does that mean? Right. It just means that prices are going up slower than they were before. So it's like if you're driving along in your car, your speedometer is showing you the inflation rate, how fast you're going down the road. The mile markers on the side of the road are showing you how far along you are. So if you slow the speed of your vehicle down, you're still going forward.

That means the mile markers continue going up. So yes, inflation has come down, but prices are still rising. So what we saw again in either April or March, depending on which metric you want to use, is that some prices were actually going down. That's phenomenal news. That is phenomenal news. So let me add to your analogy for a moment. I may screw it up entirely. But wages are also going up, right? Yes. So if wages are going up, the road is actually moving forward ahead of you as you're going. Because so so how how has the change in wages impacted people? Do they have more money to spend now? Well, so not only do they have more money to spend, but the money's going further.

So the big problem under Biden was the fact that, yes, the average paycheck just went through the roof. Yes. But it didn't go up as fast as prices. Prices outpaced everybody's earnings. Exactly. Exactly. That's why people were so frustrated with the fact that yes, they were working additional jobs. They had more income They got raises whatever the case may be Yeah, but they could still afford less than they could four years prior that was the big problem right right under Trump It's been exactly the opposite has it been yeah already

Yes, if we look at how fast incomes have risen compared to prices, incomes have risen about 1% faster. Now obviously, that's not a huge number, but we're only a few months in and the fact that we're already seeing this much of a difference, I think that's tremendous. I'll take it. I'll take it. So Puke12 writes in the chat, go ahead, Puke says, I'm calling bullshit on this. Good, tell us what's bullshit about it, Puke.

As soon as you do, I'm going to let EJ know and then we'll talk about it. Because you're just looking at the cold hard numbers here. Right. And so tell me how it is that President Trump can do this. So like, you know, oftentimes when we talk economics, if it's a bad thing, politicians will disclaim it. They're like, I have nothing to do with that. It's outside my control. If something good happens, they take credit for it. Tell me why the shift from Biden to Trump is having an impact on the numbers you just described. Sure, sure.

There's so there'll be some that are very broad, like energy. And then there are some that are that are really hyper specific, like eggs. Taking that the latter one first, what we saw under Biden was this insane policy where they were literally paying the farmers of egg laying hens more to kill chickens to call flocks than they could get by raising those chickens and bringing the eggs to market. And yes, that was in response to the avian flu, but it was a very stupid way to handle it because you caused hens that were perfectly fine to get slaughtered en masse So if you kill all of the eggs all the egg laying hens, what's gonna happen to your egg supply? It's gonna plummet That's exactly what happened We had shortages we had prices go through the roof by simply reversing that policy and putting better ones in its place You saw the supply of eggs explode again

And so prices for eggs have come way way down down like 60% now in just a couple of months So that's tremendous news, but then you have very very broad policies as well like with energy So prices for eggs have come way, way down, down like 60 percent now in just a couple of months. So that's tremendous news. But then you have very, very broad policies as well, like with energy. So in terms of energy, you're talking about a sector that's very, very forward looking. They're not so much concerned about the economic constraints today. They're looking into the future. The reason for that is because almost everything they do takes a very long time.

It takes not just months, but years, decades to build a new refinery. It takes many months to conduct the maintenance on a pipeline that's going to keep it operational. And so under Biden, what we saw was facilities getting mothballed that are now being brought online, because under Biden, it was a very anti-energy regulatory establishment,

and under Trump, it's exactly the opposite. And so as this new supply is anticipated to come online, it doesn't even need to hit us yet. Just the anticipation of new supply is driving futures prices down, which is how we trade energy on the futures market. And that's actually bringing down prices at the pump. So yeah, okay. All right.

So a new administration provides economic certainty and that has big impacts for the rest of us. Got it. All right, so Puke12 is back. He wanted to, so I did ask, and rightfully so, he said that he thought this was bullshit, and here's what he says. He wants to know about prices of homeowners and auto insurance.

So apparently, Puke has detected that homeowners and auto insurance is up still. You did mention a moment ago, of course, that prices still continue to rise. The key element that we're talking about is that incomes are now starting to rise above prices which really matters a great deal. But you are seeing that in the insurance markets. Oh sure and that's something that we knew was gonna happen in in 2022 for example. This was something we actually talked about back then I think on the on your WMAL show. Yeah. How whenever you

have these huge spikes in prices, in other words prices rise very quickly in a very short period of time it takes a while for the insurance market to catch up because all of a sudden cars become very expensive to replace yeah to repair yeah and the insurance market sees that and then they decide in the coming months and years we need to start hiking premiums to cover these higher costs. Is this the same thing? Is this the same phenomenon with gasoline? Is the rocket feather kind of situation where insurance prices will go up quickly because they anticipate future spend,

but they come down more slowly because they don't want to ease up on consumers too quickly? Not quite. It's that the insurance market actually takes a while to observe the real world market conditions and to see, all right, how much do we need to charge in premiums to cover our costs? This is why the insurance market just, I mean, they got their clocks clean for a couple of years there because the premiums they were charging folks were way too low given the cost to repair a car or repair a home. And so now, basically all their actuarial tables were completely out of date.

In literally just 12 or 18 months. So now as they recalculate all those things, and this is why the insurance spike under Biden didn't really start happening until his last year or so, but it's unfortunately continuing today and those prices are probably going to stay elevated for a while. Yes, yes indeed. Let's talk about new investment in the United States of America. Where is it as far as you can tell? How much more money and what kind of difference is it going to make to the

economy? Because the president has been proud of this, rightfully so. Sure. How do you see it? I think it's great news. We have about, actually it's over four trillion dollars now of basically guaranteed investment. There's a lot more that has been pledged they call it. There are verbal commitments. There's verbal commitments where the president will come out and say something like ten trillion dollars but in terms of just actual money flowing in that we know is coming and you're saying it's at least four trillion right now. Right right now that's gonna be over over several years it's not immediate it's not all at once but still over, right. Now that's going to be over several years. It's not immediate. It's not all at once. But still, over four or five years, that's a phenomenal increase in investment. And it's going to allow us to do things like build that steel mill in Louisiana that the South Koreans are paying for. It's going to create revenue, obviously, for them, but it's also going to create revenue for the American investors. And it creates American jobs. It allows us to build up our industrial base. That's phenomenal news.

Yes. And so what are the second and third order effects of building up a plant like that? In terms of like the local community and how many times those dollars exchange hands and how many times those dollars are taxed. I mean, what's the downstream effect of bringing new manufacturing in?

Well, you get essentially this kind of economic snowball where you create jobs in the area. Those people now are gonna spend their income in that area. Right. You know, disproportionately. And so that will create other jobs because other businesses are going to see more, more revenue, more demand. And this just snowballs.

Now those businesses are hiring more folks, which means more people in the area, which means more development, more spending, more income, etc. So exactly the opposite of what we see when the economy is turning down in a recession, let's say, where job losses lead to more job losses and it snowballs downwards. Yes. This is an upward spiral instead of a downward spiral. So looking at the U.S. steel deal, for example, that they're hammering out right now with Nippon Steel, that's going to add about a billion dollars just to the the Pittsburgh, the

greater Pittsburgh area. Which could use it. Absolutely. Big time. If you've been to Pittsburgh lately, they could use an infusion of investment. Okay, you and I talked a lot during the Biden catastrophe about credit cards. Mm-hmm. Last year, if my memory serves correctly, credit card debt exceeded one trillion dollars for the first time in the United States. And people, as you told me, were using credit cards in order to make ends meet because their paycheck did not go the distance.

This was panic spending in terms of how people were using these credit cards. They were just trying to survive with credit. What's the credit picture look like right now? Has that improved at all? It's it has essentially stabilized so it is no longer getting worse Yeah, which it was up until January maybe February Wow, so it is basically stabilized right now You're still seeing people if you look in aggregate across the country It's about three hundred billion dollars annually that people are paying in finance charges

Just on on credit cards and that's just the finance charges. That's like your your interest in your late fees Yes, that has nothing to do with anybody trying to pay down the balances on their credit cards So it's a very very terrible situation. Yeah, the silver lining here is is twofold one It's not getting worse Like we just said and the other thing was what you mentioned earlier Incomes are now rising faster than prices. And we're seeing that when we look at disposable income specifically, that statistic is rising even after adjusting for inflation. And so as people get more more money in their pocket, they can start to pay down that debt.

OK, it's going to be very painful. It's not as if we can flip a switch and it's all perfect now. And I'm not going to try to paint that overly rosy picture for you, but things at least have stopped getting worse and now are starting to get better. Okay, tell me about jobs. Every time you and I talk too, during the Biden administration, we kept getting these awful reports of what was happening where American citizens weren't getting jobs, Native-born Americans were not getting jobs, they were losing jobs under Biden. All of the job gains, to the extent that they were real

were going to immigrants to the United States. And the job market was disproportionately being artificially inflated by government jobs, which are not really good jobs because they take what 80 private sector workers to fund every one government job. So what are the trends now on those subjects, on native-born Americans, immigrants and government jobs? So we are still seeing growth in foreign-born

employment, but the native-born component of that has really picked up. And it's actually the same thing when we look at like part-time and full-time jobs. Especially in the last half of the Biden administration, full-time jobs were going down. All the job growth was part-time. And as you pointed out, it was pretty much all going to foreigners. Yes. So now what we're seeing, it's not just native-born Americans are getting jobs in addition to foreigners, but full-time employment is coming back while part-time employment keeps growing. So in other words, we are seeing only additions and not subtractions,

which I think is a good thing overall. Yes. And full-time means that you get the benefits to have a full-time job. Right, and then with the government, that's one where that's actually reversing now. We've seen government jobs. So if you look at federal employment, and I like to take the Postal Service out of that, so you're just looking at kind of the bureaucratic bloat in DC. Right. The Postal Service is thrown in with federal jobs, but it's really its own agency.

I'm trying to look at just federal employees ex-Postal Service. That's gone down every month this year. I mean, Doge is more- When has that ever happened before? You have to go back years. I mean, if you exclude COVID, right? Because COVID, everyone lost jobs for several months there. But if you exclude COVID, you have to go back years to find a time when the private sector was adding jobs this steadily

while the federal government was laying folks off. And that's where we are now. So the private sector is adding jobs. There's more full-time employment, more income. It's outpacing inflation. The federal government is laying people off. I'm sorry, tell me which part of this I'm supposed to hate. Exactly, and then you talk to the Fed

and they're all worried about everything. I mean, it's just it's incredible that this is this really is all good news. Now, is it great news? No, I'm not going to I'm not going to come in here and say everything's fine and we should rejoice. We got into a very deep hole after four years of the Biden catastrophe, as you called it. It was horrible. You know, it took and it took Biden four years to make that to make that mess. Yes. It's going to take us a Biden four years to make that to make that mess. Yes. It's going to take us a couple of years to get out of it.

So let me lastly, the big, beautiful bill. I just want to ask you not about the whole thing. There's a million different components to it, but the tax cut component of it, making the tax cuts permanent, which is what they're trying to do, which President Trump wants to do and giving some new tax cuts on things like on tips over time and Social Security. What will the effect of that be on the economy and will we also see government revenues go up as a result of these tax cuts? What do you think?

I think overall, yes. So one of the problems with things like taxes on tips is it costs the Treasury so much to enforce it that it basically equals the revenue they get out of it. So if the Treasury wants to get another dollar in terms of tip receipts tax receipts They have to spend a dollar to do it. I mean, it's a waste You should get rid of the tax just for that but also things like no tax on tips No tax on overtime that encourages people to work more to work harder that has a big supply side effect

It's like cutting marginal tax rates. So that would definitely end up increasing economic activity and leading to a net increase in revenue. And you mentioned making things permanent. The one thing that they did not make permanent, and I really hope the Senate fixes this, is the expensing provision. That's probably the biggest pro-growth part. Explain it.

So this allows a business, let's say they buy a big, beautiful studio like this, right? You want that business, since they spent the money right now to buy the studio, you want them to be able to deduct that today. Instead, what this bill does is it just basically gives a couple of years extension on that. And then a company like this is going to have to essentially deduct not just this year, but then possibly for the next 39 years, the full cost of the studio. Right, because you can't take the full deduction in just one year's time right now.

You have to spread it out. Right. And sure enough, when Biden let this expire, this provision, we immediately saw an effect in investment. It completely chilled investment. Not only did the trend dip down, but we had several quarters where it actually went negative. We were losing investment, right, not gaining it. I mean it was, it has a terrible, terrible effect. Well this is one of the reasons, so for instance, there's a, I think a fundamental misunderstanding about

how this works, because there's been reports through the years, such and such a company didn't pay any taxes this year. Well the reasoning for that is because they spent so much in capital investment that they were able to deduct off of their taxes. But what you're saying is that basically what Biden allowed to expire, it really constricted capital investment and slowed down the economy. Exactly. And what's really terrible about that is that investment is the only driver of long-run economic growth. Yes. Under Biden, the short-term driver of economic growth was just government spending. Yeah. Right. By the way, that investment is the only driver of long run economic growth. Yes. Under Biden, the short term driver of economic growth was just government spending. Yeah.

By the way, that money is being taxed. Right. For instance, to build this studio, you know, whoever sold us the television, whoever put whoever installed the panels, whoever put in the ceiling, whoever puts in the lights, all that money is going out the door. They have to pay taxes on the income. So that money is being taxed. The government just wants to tax it more exactly exactly this is another case of double taxation yeah right and and so what I look as you said

it's a huge bill there's some good stuff in it there's some bad stuff in it I think there's some ugly stuff in it too and I'm really hoping that the Senate just makes it better make it a a bigger, more beautiful bill than it already is. And I think they can do that. Yeah. All right. Well, E.J., thank you for joining us as always.

I'm going to actually what I'm going to do, maybe just stick around for a second because I may actually consult with you on this next video I'm going to play. I've got a I've got video here and audio for you on the audio podcast of of crazy Crockett Jasmine Crockett sitting down for an interview. I know, I know you love this stuff and she says that voters are just too ignorant to know how great Democrats are. I think this is this is wild. Let's take a look here. Here's Jasmine Crockett cut three talking about the ignorance of American voters. The winning playbook I think overall is just communication and education. I think that you can talk about kitchen table issues

all you want to, but it comes down to actually having a rapport and making sure that people actually understand what it is that you're talking about. I don't think that we failed to talk about kitchen table issues, but basically, Trump was simple and lied, right? Like he said, hey, the price of eggs are high, I'm gonna reduce it on day one. It was a very simple message, it was a lie. We're going down now.

I mean, after they went up through the roof, I mean, yeah, like, let's be clear, and honestly, they may be down for the second, but again, having people be educated about what it is that the FDA does, and talking about things such as the bird flu and talking about if you have less birds because they are sick then that's less eggs but the demand is still the same then the price goes up like we have to make sure we do education. One of the other issues that I think that we had is that people didn't understand that the global pandemic was the cause of our inflation. They were like oh everything's high and they just said well that's the person that's in office instead of actually having this global conversation.

Okay, so that's an economics lesson from Jasmine Crockett. All right, so let me understand what she said there. She said that President Trump failed to bring egg prices down. And then the interviewer corrected her. Well, they're actually coming down dramatically. She said that egg prices went up because birds were killed off. That's true. Didn't she just say a moment ago, it was Trump's fault that the egg prices were high?

And then she said COVID caused inflation. E.J. Antonio, I'm pretty sure that was government printing too much money that did that. Oh, I think all our collective IQ just went down having to listen to that drivel. My goodness. Yeah, it was very simple. When the government prints trillions of dollars out of thin air, they become less scarce. And scarcity is fundamentally what gives things its value.

This is part of something called the diamond water paradox, which now that they can make synthetic diamonds, it's not as true anymore. But why is it that even though water is so much more useful, its price is so much less than diamonds, which have almost no utility, especially compared to water. And there's a finite supply of water for what it's worth.

It's because water is so much more abundant. Diamonds are so scarce. Yeah. Right. So if you make something less scarce, its value goes down. That's exactly what happened. That's exactly what we did to the dollar. I mean the Fed literally doubled the assets on its balance sheet, which is the the basis of the money supply essentially. What do you think is going to happen to the value of your currency when you devalue it? Right. And then of course like the media play this game for years where they're like, well, there's just no explaining it. One last one for you, because she goes on to say that inflation during covid was a global phenomenon.

It was a global phenomenon. My view of that has always been, wait a second, the US dollar is the global reserve currency. So if we print too many, that affects the whole planet, doesn't it? So if we print too many that affects the whole planet doesn't it exactly exactly because you you still have it's not as true as it Was in the the gold exchange standard, but it's still true today When other currencies are based off of the value of the dollar or when they use dollars as the basis for their money supply sure You increase that supply you're gonna increase the supply and therefore decrease the value of other now You know why I spend all my time talking to EJ Anthony great economist thank you brother good to see you too thanks for joining us on Vince I'll be back with you tomorrow