The Pomp Podcast - #1569 Anthony & Polina Pompliano | Is the Fed Too Late to Stop Bitcoin’s Rise?

Episode Date: July 2, 2025

Polina Pompliano and Anthony Pompliano discuss why the dollar is weakening, what will happen with the economy, how bitcoin could be impacted, Jerome Powell and inflation, Trump vs Elon, and why socialism is rising in New York. =======================Core is the leading Bitcoin scaling solution, enabling you to lock in yield by locking up your Bitcoin. Simply lock it on the Bitcoin blockchain to secure the Core network, and get rewards. No bridging. No lending. Just holding. Still your keys. Still your coins. Now your yield. Start at https://stake.coredao.org/pomp =======================Invest as you spend with the Gemini Credit Card® (https://www.gemini.com/pomp). Sign up today and get approved by 6/30/25 to earn a $200 Bitcoin bonus. Terms apply (http://gemini.com/legal/credit-card-intro-promo-terms). The Gemini Credit Card is issued by WebBank. See rates & fees (https://www.gemini.com/legal/cardholder-agreement) for more details. Some exclusions apply to instant rewards in which rewards are deposited when the transaction posts. This content is sponsored by Gemini, but my opinions are my own.=======================Polkadot is a scalable, secure, and decentralized blockchain technology aimed at creating Web3. Created by Gavin Wood, co-founder of Ethereum, Polkadot empowers users to build decentralized applications with ease. Backed by industry leaders, making it a preferred choice for big names, Polkadot stands out as a leading choice for investors seeking a reliable, future-proof solution in the growing world of Web3 technology. Learn more at https://polkadot.com/.=======================Pomp writes a daily letter to over 265,000+ investors about business, technology, and finance. He breaks down complex topics into easy-to-understand language while sharing opinions on various aspects of each industry. You can subscribe at https://pomp.substack.com/=======================View 10k+ open startup jobs:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://dreamstartupjob.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Enroll in my Crypto Academy: https://www.thecryptoacademy.io/

If you pull a muscle, all of a sudden you realize how often you use that muscle. So the bladder is exactly like that. When it's working well, we don't think about it. But when it's not working properly, you're getting up at night, or in the cases of many men, you may have some leakage. If this is something that's affecting your quality of life, there are really good solutions these days. Depend makes the guard and the shield.

The shield would be if you have some leakage on occasion, if you have heavier leakage, you could use the guard. What's up, everyone? This is Anthony Pompliano. Many of you know me as Pomp. You're listening to the Pomp Podcast, which is my effort to find the most interesting people in the world and sit with them for hours while I ask questions in an effort to learn. So it would mean the world to me if you would subscribe to the show on your favorite audio platform, watch episodes on YouTube, and tell your friends and family about the podcast. My goal is to help millions learn from the world's most interesting people. So let's get into today's episode. Anthony Pompliano runs Pomp Investments.

All views of him and the guests on his podcast are solely their opinions and do not reflect the opinions of Pomp Investments. You should not treat any opinion expressed by Pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his personal opinion. This podcast is for informational purposes only. What's going on guys today we got an amazing episode with polina pompliano in this conversation we talk about why the dollar is weakening what is going to happen with the economy whether it's going to run really hot how bitcoin is affected whether jerome powell is going to actually be replaced whether mom and dad elon and trump they're going to stop fighting or not and of course we throw in

a couple of socialism jokes for mom donnie and all the people in new york city that have lost their mind here's my latest conversation with polina pompliano all right polina what's the first topic. The dollar is off to its worst start to a year in more than 52 years. It's weakened more than 10% over the past six months when compared with a basket of currencies from the country's major trading partners. Yet, Trump is out here saying that the economy is about to be hot. What do we think? Well, both things are true. The dollar has weakened 10%, which is the worst start in 40 or 50 years. 52. And also, it is about to boom because we have a weak dollar. If you think about cheap capital, both on a relative basis and also on an aggregate basis, leads to

people wanting to do certain things. That's why they're yelling and screaming about interest rates is if you want an economic boom, you need interest rates to come down, you get access to cheaper capital. The dollar is weakening compared to other foreign currencies. And so all these little components are setting the stage for the boom. Now, what I will say, which a lot of people, a lot of people were wrong about is we got tariffs tariff revenue has exploded upwards we don't have inflation and so people are like oh it's not been enough time yeah like no if we're collecting whatever it is over 100 billion dollars or whatever of tariff revenue then you can't say that we haven't had enough time so we have enough time to collect the money

if we're collecting the money isn't the american consumer supposed to be paying for it if the american consumer is not bearing the brunt of that bill then who's paying for it must be the foreign producers, foreign countries, etc. So we're collecting revenue, but it wasn't passed through to the consumer because we did not get the inflation that everyone promises. So why is the dollar down is what I'm trying to understand? Well, there's multiple things that are happening. So some of it is policy related. Some of it is confidence related. If you think about a relative comparison between, let's say, dollars and the euro, these two things are not just, hey, what is the value of a dollar? Like one dollar equals

one dollar one euro equals one euro what you actually are looking for is the exchange rate between these two things and so at certain times the dollar strengthens against the euro and at other times the euro strengthens against the dollar you actually i don't think know this but when i was in college the way i got started with investing was trading the u.s dollar euro pair you know i was doing forex trading before it was cool on tiktok uh in college and the whole idea there is you're basically trying to understand the relative monetary policies you're trying to understand trade and so there's always the joke online that people will be like oh one of the currencies weakens like time to go to america time to go to europe your dollar goes further in europe

your euro goes further in the u.s and so that's really what people are talking about they're talking about the comparison the relative strength that's where the dollar is down 10 it is down compared to other foreign currencies now what is also true and maybe more importantly is the dollar is down a hell of a lot against bitcoin and so what we're seeing is the dollar's strength relative to bitcoin has crashed as well that to me is the biggest uh trend to watch because ultimately all fiat currencies around the world are falling at the feet of bitcoin bitcoin is the only currency that's strengthening against everyone else uh and that tells you kind of where the world is headed in my opinion so i don't know if this has anything to do with the

dollar but um on sunday trump uh sent this via truth social saying for all cost-cutting republicans of which i am one remember you still have to get re-elected don't go too crazy we will make it all up times 10 with growth more than ever before so what does that mean that he will keep i don't agree with this so for all you guys who think i'm some uh maga shill whatever nonsense y'all say in the comments shh listen get real close get your ears open i don't agree with this we should be trying to cut costs and it doesn't matter how uh the response is the point is we should be trying to cut costs so that the government stops wasting money so this idea that like oh let's cut a little bit but not enough well that's not very helpful to us you mean not too much no enough too much

we can't cut too much what what is too much how could you possibly cut too much of the government budget what thing that the government does that you could cut in real size that would be too much pretty much everything people would point to right let's say for example social security they're like oh you can't touch that that's taboo social security payments were down i think seven percent in the month of uh may i think it was right then people are like oh my god oh do you hear anyone saying i'm supposed to get my social security payment i didn't get it so how does elon feel about this well elon's real pissed they're they're locked they're locked horns right i saw an analysis online where uh basically what they said was uh elon is upset because he put his reputation his

time his energy his money towards cutting costs and then the politicians just go and they're just gonna spend the money okay and so what elon is now threatening which again let's see if it happens he's threatening to create a third political party which is focused on cutting costs and he's saying that the republicans and democrats are all just one big party of spend interesting and you if you look at these charts where it's the national debt growing and then they color code it based on republicans and democrats red and blue we spend money under every president bill clinton did it george bush did it obama did it trump did it biden did it trump's gonna do it again okay now it's a structural thing they feel like they have to do that because in this truth social post is basically

saying if you cut too much it may be unpopular because think about it you're taking something away from people what politician is ever going to do that right but it needs to be done and that's the great paradox i think of uh politics is the hard thing is the thing that politicians don't want to do because it requires them to take something away from people and that's not how you get reelected. Why do you think then that Trump even had the Doge initiative if this was the plan all along? I think that they were at one point, they're like, hey, can we cut? And then all of a sudden they just got smacked in the face and they ran into all these roadblocks and stuff and they realized that you can't cut based on the current rules what they thought maybe you

otherwise could. Like both things are true. There's a ton of waste. There's a ton of fraud. There's a ton of bureaucracy in the government. You probably, in my opinion, could cut at least a third of the government spending. And 99% of Americans wouldn't even realize it. Right. So that's why I'm like, why would it? But I've gone and I've talked to people. I mean, we did an interview with my buddy, Sahil Lovinga, who was a Doge engineer, and he was working at the VA. And he's like, dude, we walked in. Like, immediately, you're like, okay, this is bloated. That person, this division, this product, rip this out, fire that person, reuse these resources somewhere else.

It's very obvious what to do if you go in from a business perspective. But he's like, but we were told you can't fire anybody. He's like, okay. Then they're like, oh, you want to launch that product? Nope, you have to go get seven different reviews to do it. Because there's a chance that somebody in rural America doesn't have internet, and then they can't follow through that process. He's like, what, like, if you try to serve everyone, you serve no one, right? And so his point was, they don't take a very entrepreneurial kind of common sense approach to it. Instead, what they do is they basically are intentionally very slow, because they would rather have a paper process where they say 100% of people can do this, even if the technology solution would be better for 98 of people and you could still offer the paper process right to the two percent that can't use the technology but that's not how the government works the government instead says no we need 100 just keep it with paper don't do the technology

and so he literally went in he i think the way he told me the story was uh in like the first 48 hours he was there he rebuilt an entire product for the government uh for the va and he went and showed them and they were like hey we should like launch this and they were like uh uh you built that by yourself in like 48 hours? He was like, yeah. What have you guys been doing? Right? And so I think that there's just a lot of these issues. So now what they're doing is they're switching from let's cut costs to now they're saying, let's grow our way out of the problem. Now, if you go back, I've been talking about this for years on here, is that I historically thought that they would never, ever cut costs. They were always going to spend money. I got

very excited about the fact that it wasn't politicians trying to cut costs, that we were going to take the number one entrepreneur of our lifetime, who is excellent at cutting costs in all of his businesses and we essentially gave him the power and the mandate to go cut costs in the government i was wrong in the sense of believing he was going to be able to be successful i think he is frustrated because what he realizes he was sent on a suicide mission impossible they were never going to allow this to happen not the it was a good marketing tool i don't think it's the existing administration that stopped him i think that it was the uh general bodies of the government, right? The Senate, the House, various oversight committees, etc. And when you

look at that, I mean, remember what we were talking about just what, four months ago? They were inside the buildings. They were physically inside buildings, trying to go through and say, where's the money? Who needs to be cut? All this stuff. And politicians were outside banging on the doors. It's crazy. This is crazy. And so now what we have is, hey, we're going to grow our way out of it. Grow our way out of it means two things. We are going to print money and we're going to run the economy hot. If you're going to do that, then what you're essentially going to do is you're going to destroy the value of the dollar. You're going to debase it. You have to worry about inflation coming back. And you now also have to think about how do we spur economic

growth? The way you do that is you're going to go, you're going to cut taxes. You're going to deregulate. You're going to try to get interest rates down. You're going to try to debase the dollar and you're going to try to create this like structural tailwind. Got it. And so what do you think about this? Like now Trump is saying that he would consider deporting Musk. When mom and dad fight you got to remember when mom and dad are fighting nothing that's said is allowed you can't hold it against them that's my take right because they got emotions these are like uh spurred lovers now elon and trump yeah they were what is it spurned what i say spurred yeah whatever spurred what's what's a letter end in between a couple of us here all right so if

you think about why are they mom and dad we'll leave that for another well you choose who's mom and dad i'm just saying that they're not my mom and dad they were together they were together they were tag team they were ready to take on the world now you know kind of got a little split it's like uh people magazine you know at the grocery store when you get in line but the difference is this is the president of the united no what they would do is they would put the two of them on the page and then they would put the like torn thing in between them you get that visual right that's basically what we're watching here this is like uh uh two guys really big egos really successful very focused on winning in whatever that means for each one of them

and now they've turned and they're pointed at each other and here's the thing is both of them i hate to tell people this but do you know what they are no you know what they are you know what both of them are they're both gemini's but i know i know this is gonna be i know that you know i know that time i know that you feel gemini on gemini war that it's not fair or good for the president to say that we're gonna go investigate your companies because of a feud i don't think that it's good for the country that these two guys are fighting i think that we're much better off when they're together i don't agree that uh any government whether it's left or right should be using law enforcement as a way to get back at their enemies or foes

i also don't think that our business leaders should be publicly uh trying to use information to go and embarrass or threaten or anything politicians as well. They can say whatever they want about the government's freedom of speech. Of course, there's freedom of speech. But what I'm saying is, what are we optimizing for here? Are we optimizing for who can get more likes and retweets on X? I have no idea. Or are we optimizing for who's actually going to be able to help push the country forward?

If we're optimizing for pushing the country forward, all this is nonsense. This is all noise. It's all nonsense. But if you go ahead and you take off your glasses, take off your glasses of common sense and instead put on your entertainment glasses and you look at it all through an entertainment lens. It all makes sense. As Matt Marlinski

says, it's all pro wrestling. Why is he saying that he's going to look into deporting Elon Musk? Because he got you talking about it. He's not going to deport Elon Musk. He knows that that's not a real thing. Okay, if he deports Elon Musk, we'll be back here and you'll eat your words. Listen, if he deports Elon

Musk, you'll get me out in the streets. You'll get me at a protest. I never want to protest in my life. I'd be protesting. i say listen that's crazy come on stop it right but vice versa is uh elon basically double dog daring trump to cut all the subsidies to spacex and tesla etc it's all entertainment these guys are just entertaining each other doing this and it's basically making both of them it's pulling them both up this is the playbook that trump's used for a long time elon also is using them up or down it was pulling them up that's the thing is we live in a world where these two guys are

benefiting from the controversy and so yes but in what ways are they benefiting because we're talking about this not talking about the other things right we're not talking about any of the issues you think that tesla shareholders right now they care about uh whether trump is going to cut the subsidies to the company or what they probably care if elon gets deported of course they do right but the whole thing is like that's not a a real thing that's not going to happen I mean, OK, you want to bet you want to bet? By the way, I just want to point out to the people that I said that those two, it would end badly because of their egos. And you're like, no, it's not. Roll the tapes.

I don't think I said, no, it's not. I think I said that they would end up lasting longer than people thought. All right. Let's talk about. Hey, let's talk. If you're 22 years old, six months, that's like basically like you were married. That was like a long term relationship. They're not 22. What are you talking about? i'm just saying like the length of a relationship six months that's crazy okay all right um and if you go back before trump got elected actually it's even longer okay let's talk about bitcoin all right so both guys like bitcoin trump and elon okay so the news around bitcoin continues to be positive currently the price is around it's hovering at 107 000 um on monday senator cynthia loomis said she's working on an amendment to allow americans to use bitcoin and crypto

without fear of tax violations u.s senator tim scott told the white house crypto advisor that legislation establishing rules for the u.s crypto market will be finished by september 30th so essentially they're saying like people want to own this stuff we need rules around it and we don't want people to fear taxation of this asset well the rules are only for the people who don't believe in bitcoin that's why they're creating rules because if you believe in bitcoin you buy it and you don't sell it if you don't sell it you don't pay taxes so all all these rules all the stuff people talking about it's only for the non-believers well some people need to sell it for whatever reason okay but still you're non-believer right rule number one of bitcoin hold your bitcoin

never sell it just like warren buffett right buy great assets hold them forever just timeless investing principle but in all seriousness uh that's ultimately what they're doing is they're trying to figure out how do we create rules for people who are either selling or spending the Bitcoin. But the hardcore Bitcoin believers, yes, of course, if they got to pay taxes or whatever, right, I've had to do that before. But in terms of the people who are buying the Bitcoin to hold forever, they don't have to worry about the tax situation because they're never going to sell. Yeah, but there need to be like some guidelines and rules for regular people who buy this as another investment. Well, I think that there are a couple of things, right? The first is

you should allow, there's something called a de minimis exemption. I think it's like $600, $800, whatever it is. If you go and you spend $20 a Bitcoin, you shouldn't have to pay tax on the use of that Bitcoin. Now, if you're going and you're trading it, that's a whole different situation. You're treating it as an investment asset. But if you're using it as a currency to buy something, why shouldn't there be an exemption? You don't pay that on dollars. You don't pay that on any other foreign currency. So why would we do that here? Now, it doesn't mean you're not going to pay sales tax and you know all the other taxes that you would pay it just you would treat this as a currency which is the use of what it is being used for um if you're treating it as an

investment asset you gotta pay taxes that's how the government by the way whether you like that or not that's just how the government is set up now and this asset should be treated no different than others and i think really in a crazy way bitcoin is just fighting for equality it's an equality fight right treat bitcoin the same way you treat the other assets when it's being used for investment tax like an investment when it's being used as a currency tax it like a currency I think Senator Cynthia Loomis is really she's really been doing the work. She's all over it. And it's because she spent a lot of time that there's she's free to explain who her relatives are and what their involvement in the Bitcoin world is. But she's got some really

strong advisors around her who have been very helpful to her learning more about what the asset is over the years and what the right policies are. And I think that she's leading the charges she's doing a great job what do you think success will look like at the end of the trump administration for bitcoin well at the end of the day the only quantifiable metric is just bitcoin's price is higher but i don't think that that has anything to do with trump uh i think that he can help but i think it was going up regardless right didn't matter and went up under biden it's going to go up under trump all right trump sent a letter to the federal to federal reserve chairman jerome powell urging the central bank to lower interest rates by a lot the white house said on

monday uh an image was presented of trump signing a document of tax rates from foreign nations saying you have cost the usa a fortune and continue to do so you should lower the rate by a lot trump followed up with a truth social message jerome too late powell he loves giving people that's a great nickname though jerome too late powell and his entire board should be ashamed of themselves for allowing this to happen to the united states they have one of the easiest yet most prestigious jobs in the u in america and they have failed all caps i thought he should have said jerome the number two late meanwhile scott besant the treasury secretary appears to be emerging as a favorite to replace powell he told bloomberg that he's ready to replace fed

chair jerome powell if trump wants him to what do we think here sounds good to me i listen jerome powell i mean it's been since what 2020 i've been railing on jerome powell the guy is forget too late he's just behind the curve i would have jerome behind the curve powell shouldn't that be an independent organization do we want the president putting his own people in there well first of all the government appoints the person so biden uh trump etc they always do this uh then they're sitting there for a certain period of time. Sometimes in these positions, they even step down when the president's changeover. Powell did not. I don't think that there is a concern around the independence of the Fed. They are putting pressure, but so did Biden. So I think,

again, it goes back to it doesn't matter, Republican, Democrat. I wrote about when Biden called Powell into his office, like the principal calling a bad student in. And he was basically like yo what the hell right now the difference is that biden uh chose to do that in private we don't know if it was biden was really not oval office but they said he was um and so now we have uh trump but trump just does it on social media okay i don't know which one's better frankly but everyone i mean elizabeth warren wrote a letter to powell talking about interest rates uh what is a couple months ago okay but you can't say he has an easy job of course he doesn't have an easy job everybody hates you well if you i'll let inflation explode to nine percent yeah you

didn't do your job right and so it goes back to this whole idea of uh too late behind the curve whatever now by the way i actually don't think it's jerome powell's uh fault i think the system in which he's operating is a system that requires him to look at backwards looking data to make decisions today to predict the future it's impossible job right instead they should use real-time alternative inflation metrics like Truflation, like I've been yelling and screaming for, what, months, years at this point? And they would have a much better reading, they would be much better informed, and they would be able to make better decisions. But if you use bad data to make decisions, then you end up with bad decisions. Like, duh. I teach my three-and-a-half

year old daughter these ideas. We got grown men who are still looking backwards at data. It's like, how are you going to use antiquated data to make good decisions today? Why don't we use updated data. You wouldn't use yesterday's data to make a decision today. You'd use today's data. Let's go. Get with the program. This is not hard. But you know what the problem would be? The Bureau of Labor Statistics would have to stop sending people into grocery stores with tablets to go find the exact product and then hand input it. They'd have to stop calling people on the phone and say, I know you own your apartment or home. How much do you think you could rent it for? It's crazy. It's crazy. I understand inflation better than the Federal Reserve because I look

at real time metrics. You can do it too. If you and I can do it, they can do it. And my guess is they do look at it, but instead they publicly talk about all of the antiquated data and then they try to make these decisions. But as they've seen, they have been wrong. Now, what they're starting to talk about is, oh, we expect inflation to come over the summer. I recently said that I do expect inflation to creep up, but I do not expect it to be because of tariffs. Instead, it's because we're going to go spend. Milton Friedman, famous economist, great guy. If you don't know anything about them go check them out milton friedman he says that the only place that inflation is ever created is in washington dc the only way you get inflation is government spending so we're going

to spend money inflation will come now it doesn't mean we're going to nine percent but maybe we take up to two and a half percent okay well if all of a sudden you start to get two and a half uh well sorry their their numbers are already around two and a half percent but real inflation at two and a half percent um if that happens economy runs hot asset prices go up economic boom the trade-off is half of the Americans who don't have investment assets. They're just watching everything explode in price. They feel further behind. Enter socialism as the potential solution. Okay. So you think Powell has failed in the last six months? He did a better job in the last six months than he did in 21 and 22. But yeah, I mean,

objectively, interest rates are higher than they probably should be. And inflation didn't show up the way that they said that it would now what happens from here we'll see but so far uh their worry about inflation didn't materialize and it looks like they could have kept interest rates lower and that would have not led to higher levels of inflation okay so jerome too late powell kind of seems like a fair critique let's talk about your favorite man in the world socialism is hot right now no it's not that's hot the kids love socialism dumb um we know somebody here who has very educated friends who all voted for mom donnie they're not educated that's the whole thing well i got a piece of paper that some some stupid school gave them a

piece of paper and they think that piece of paper means they're educated i know people who didn't even graduate high school that are smarter than those people for those of you who don't know zoran mamdani is the socialist candidate for running for mayor in new york city that it all started off what i thought was a meme campaign but it wasn't it was a real campaign apparently and and he blew the other candidates out of the water because our other candidates were like eric adams and andrew cuomo no just um he didn't run against eric adams oh wait oh because eric is a yeah yeah because eric is uh independent independent okay so voter data shows 18 to 29 year olds led the turnout which is a stark difference from four years ago when the majority

of voters in 20 in the 2021 mayoral primary were over 60 and why do we think this is happening you had jordy visser um talking about how it's like a rapid shift in technology over the past 10 years has led to this um peter teal expresses concerns that oh wait wait wait this is from 2020 peter okay okay first i want to extend an olive branch to my socialist brethren brethren brethren what's an end between a couple of friends whatever no it's an r um if you take the n and cut it in half um i hear you i understand there's a couple things that are true the first thing that's true is that there is a widening group of individuals who feel left behind left out like they can't get

ahead and that their life is worse than their parents life okay the idea of the american dream feels like a foreign concept to them they're frustrated they're watching everything around them become more expensive. And their job prospects don't look that great. And it feels like everything in the system is stacked against them. I hear you. I agree with your assessment. I also agree with and like the idea that young people are going out and voting. How many candidates across both sides of the aisle for decades wanted young people to go out and vote? That's true. Great development.

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If you're looking for a reliable, scalable, and cutting-edge solution, Polkadot seems to be the top choice for industry players. Go check them out today at polkadot.com. In the way that he is communicating as a modern politician on social media, going direct to people, being able to create his message and get it in the hands of individuals. Walking the island of Manhattan. Scott Adams would call it weapons-grade persuasion. It's incredible. I thought you said Eric Adams. Very good at it.

no, Scott Adams. And so I also will say that I agree with Zoran Mamdani walking the streets, talking to people, campaigning, old school working, trying to get out there, get his message out there, meet people, hear what they got to say. I hear him. Agree with all that. I also agree with the fact that New York City's affordability is in a really bad position. I agree with the fact that young people in this city that come here specifically from outside of New York and they come here with a dream. They want to work hard. They think that there's some opportunity here. They feel like they're getting shafted and they're right because of the situation that they're walking into.

And then I also agree with Zoran Mamdani that the people he was running against were not very good candidates. so me and my socialist friend oh god we're good we're locked on a couple things but now where we disagree is we agree on the analysis of what is happening we completely disagree and i would take off mom donnie's smart hat and i would put on the dumb hat when he starts talking about the solutions this guy has no clue what he's talking about no clue how do you think he arrived at these conclusions do you think it's just like a populist thing that he's like no no no elected let me just go through a couple of facts here he lies he misleads people he preys on the economically illiterate don't all politicians

do that and he has the worst quality of a politician which is his whole thing is i'm from the government and i am here to help but i think everybody who runs for hold on when you have a message the government knows better for you and your life you immediately are violating the ethos of america so let me give you some facts i went deep down this rabbit hole mom donnie was born in uh outside the united states in africa he moved to the united states when he was seven years old i love the fact that we was born in uganda and then i believe he lives in south africa and then he came to the u.s i love the fact that we have the potential for an immigrant mayor of new york city this is a city of immigrants this is a city of people from all

over the world, both inside the United States and outside, that come here. Nine million people that want to create a better life, that want to chase economic opportunity, that want to get jobs, that want to actually reach some level of financial security. I love the idea of having an immigrant mayor. So if you go and you take a look and you say to yourself, these ideas of there shouldn't be any billionaires. No, Mom Donnie. There should be more billionaires. There should be more millionaires. We should be a country where we are able to actually create a plethora of wealth, not sit and with an iron grip say, oh, you had any degree of success. I'm going to take it from you. And I'm then going to hand it to these other people.

Every single place that has tried socialism and communism fails. This country has tens of millions of people who have come here to escape those ideas if you want to know whether these ideas are good talk to somebody who came from cuba or venezuela or any other country that has implemented socialist and communist ideas bulgaria and so when you go and you take a look at what we are doing here we essentially have a candidate who is showing up and saying you as the constituency or dumb. You cannot do anything for yourself. You need the government to save you. I don't know about you, but I have never seen a situation where the government saves the people. Instead, you have to use free market economics. And so a great example in New York City, in real time,

we just removed the broker fee from apartment listings. For those that don't know how this works. If a landlord has a apartment, that apartment, usually they go and they say, Polina, you are a real estate agent. Come and represent my property. When you represent my property, I am going to let you charge the tenant a broker fee. Let's say that broker fee is 15% of the first year of rent, usually was the broker fee. So let's say it was 50 grand for the apartment for the first year, you get $750,000. Okay. A law got created that says you as the real estate agent cannot charge the renter a broker fee because their argument, and again, hell is lined with a lot of good intentions. Their argument was that's not your client. The landlord is your

client. Okay. So landlord said, gotcha. Guess what happened overnight? Rents in New York City went up 15%. Why? Because the landlord said, okay, well, if they can't pay you the 15%, which is a one-time charge, I have to pay it. I'm not coming out of pocket. So they raised the rents 15%. Now they just give you the 15%. Yeah. But here's the problem. This is why the renters are worse off. In the old model, it was a one-time fee. If you stay in that apartment for three years, you pay the additional 15% every single year. So now let's go back to that $7,500, thousand dollars which was a one-time fee now you end up actually paying over 22 000 over the three-year period because they changed this rule so it's a classic example of stupidity showing up

in rules and so the reason why it's just like theory versus practical of course it's a lack of understanding of economics it's just really hard to convince people as it's always been with socialism and communism that when you show up you're like no capitalism is good listen to me like here's the logic you're fighting against someone who's saying free buses rent freezes free child care free groceries it's intellectually lazy but anyone can give away free things it doesn't solve any problems but people like you see it on smaller smaller microcosms of this is on like college campuses like when student government presidents run they're like and free donuts no he did that did you see the report i don't know if it's true but there was a report

that came out that he promised to give out free juices when he ran for student government and he lost the race and they're like it's been given out free stuff but like that it was in like high school but exactly like that and a lot of times in college or high school those people win because we were like i want free donuts on fridays and it's like that you're you're fighting against like the most basic human so here here's what i think thought i think zoron mom donnie he should come he should sit in that chair he should have a conversation with me about economics it's easy to walk the streets and prey on people who don't understand how the machine works it's easy to go and tell them you're going to give free things but guess but guess what is yes who didn't vote

for him all the people he claims to be helping only the rich people voted for him but actually the people who need the most help in this city they didn't vote for hold on wouldn't you argue that the rich if they they should understand economics if they're rich why do they vote for him no it it's the same thing of why do they give things away it makes them feel good it makes them feel good to vote for the guy who says i'm going to help the poor people right i'm going to help the people who don't have anyone looking out for them but those people many of them are like they don't trust their government they don't trust this guy they think this dude is a snake oil salesman they didn't vote for him do you um how crazy is that the people who don't ride the bus

are voting for the guy who says i'm gonna give away free bus tickets because they don't care they don't care if the service quality goes down they don't care if there's crazy people on the bus they don't care if crime goes up they don't care if the buses don't run they don't care if they can't afford the bus anymore because the city doesn't have money to pay for the buses they don't care about any of that it makes them feel good to say oh those people down the street yeah wouldn't it be great if they had free bus rides is this you told them to ride the bus is this you challenging mom donnie to a public debate it's not even a debate it's let's just have a conversation about it a podcast if if you are willing to prey on the economically illiterate then come sit right

here and let's have a conversation about it but i promise you that it will take me about 20 minutes to have this guy spinning in intellectual circles talking about all the free shit he's going to give out. And I'm going to ask him all kinds of questions that will immediately get to the heart of, Hmm, maybe this isn't going to work. So, so let's talk reality. I mean, how much of this can he actually do? And listen, all I know is he's going to run into the chainsaw, Eric Adams, Eric Adams, the funniest man in New York city, straight up. Anthony is like, literally we'll be sitting in a cab and he'll tell me a inspirational quote. I'm like, you want to hear it? All right. So Eric Adams gave an interview. We should play Matt. Maybe we'd cut this into

the video but uh he gave an interview recently to the guy uh with a hard knocks or whatever the guy is on instagram uh who like fake runs up to me not really running up to them fake runs up to people eric had the whole thing scripted out he had a fake bodyguard like oh stay away and the airs come on go ahead it's this guy on instagram the interviews are pretty interesting but uh it's always scripted but eric adams got asked and he said uh here's one line just one heater came out of he said uh i always tell people let your haters be your waiters when you sit down at the table of success like come on that's a mayor in new york city that is like a new york city that should be a theme song i let my haters be my waiters at the table of success then you're like

oh he got his one liner off like great interview he followed up 30 seconds later he got asked if he believes in god and the man said 100 i turn on my gps every morning my god position is satellite tell me this man is not hilarious i then wait hold on i'm not done yet then he just posted a video and he's walking down the sidewalk with wired earbud he already was a already we're good if he's got wired earbuds walking on the sidewalk and a doorman i think or somebody walks up to him and goes yo mr adams or like yo mayor adams what are you listening to and he's like katie perry firework and then he's like make sure that you go to the macy's fireworks like this is man is like a third rate actor but it is hilarious he's the funniest guy in new york city not even

close eric adams is really he got a shorty in every borough he's got he's pushing out the trash can remember when he pushed out the trash can everyone forgets he then took a fake bag of trash and put it in the trash can to show people how to do it i listened to his podcast with andrew schultz and i was like it's funny and i was like what did i just listen to like this is the mayor of but hey i mean if this either eric adams or socialism let my haters be my way right no um but the other day you don't know this but the other day i came out of the shower and i was minding my own business and i just overhear anthony in the other room be like i let my haters then like a pause and then i don't hear anything like be my weight i'm like what is he who is he

talking to like that y'all know y'all know our three and a half year old daughter got it down now she could say it she walks up to me she goes dad i let my haters be my waiters at my table of success so that's immediate high five anyway so this you're gonna drop it on somebody for sure in new york city they're gonna be like damn is that a little eric adams this is what's happening in our city currently but if you think about the reason why you have nine million people here and this is all we got but it goes back to remember my thing were you willing to sacrifice for other people before you wanted to be a politician eric adams served as a police officer right he didn't know he was gonna be mayor but he was willing to do things that sacrificed himself

his time his energy his family all this stuff i mean to actually serve the people so it goes back to go and take a look show me what you did before you wanted to be a politician if you have a history if you got data points in your background i'm much more interested than if you just pop up and like yo i got socialism i do think it's funny they call him little fidel like i mean you know what i mean it's like if you want cuba go to cuba if you want venezuela go to venezuela he just thinks he found the best ideas and he's gonna implement them here stop but i i got faith i got faith that new york city's not that we're not stupid you know who i think should run who you ain't gonna be happy about this one but you know i i think really it's like batman we gotta

put up the bat signal he needs to swoop in and save the city the rock no 50 cent oh does he live in new york city he is as new york as they come he had a mansion in connecticut but i think he's back in new york 50 cent should be the mayor of new york city immediate win oh he's currently on his final lap tour listen he oh wait we should be good at this all he has to do anything all he has to do he holds three concerts in new york city he'll raise more money than mom donnie immediately he then turns around he becomes mayor and 50 cent 50 cent he crush him so mom donnie failed rapper 50 cent uh famous successful rapper put them together have a rap battle and see who gets to be so far so far this tour celebrates his 20th anniversary of his debut album get rich or die

trying great album it has been a successful run so far this tour guess how much he's grossed 100 million yeah how'd you know that because 50 cent he don't deal with eight figures he's a nine-figure guy i've met 50 cent he hit on you okay let's not get crazy here he did no he didn't he was just a nice guy you know we took a picture together yeah that's before i knew no he was great you know what monday and you know what a lot of people i used to work at fortune a lot of celebrities and big business people used to come in with their massive entourages he came in by himself he didn't have anybody with him okay what's the point i'm just saying it's 50 that was impressive what all right let's let's 50 i got your bag if you want to be mayor man

just call me up 50 cent as mayor of new york city mayor because he actually understands how the real world works i mean he's a better communicator than mom donnie for sure he's a better rapper he's a better business person a rapper is the mayor well we have one his name's eric adams don't you hear the bars that he's spitting p-i-m-p right my initials um okay ready all right guys thanks so much for listening see you guys next week We'll be right back.