The Trish Regan Show - SHOCK DROP: Oil Prices Tumble After Iran Strikes — Why Markets Are CHEERING; Walmart's Plan to Counter MAGA Boycott; NYC Mayoral Race

Episode Date: June 23, 2025

Oil prices are dropping—down some 8% in trading after this weekend’s Middle East strikes. Trish breaks it down. Plus: Walmart scrambles to launch an emergency plan as a fast-growing boycott slams the retail giant. The company is now vowing to “eat the tariffs” in a desperate bid to win conservatives back—and pull shoppers away from Amazon’s Prime Day—after a rogue Walton family heiress nearly wrecked the business with her controversial “No Kings” ad. Not everyone is pleased with the lower oil prices; AOC is demanding the President be impeached for his actions -- and her own party is calling her out! Plus, why Governor Ron DeSantis says Florida real estate could be about to boom—and it's all thanks to the NYC mayoral race! Trish explains! Join her for the full live episode. Learn more about your ad choices. Visit megaphone.fm/adchoices

And we're live. Wow. What a weekend we have had, ladies and gentlemen, we'll get to all that. We want to get to some of the market reaction. Oil prices actually amazingly lower as the world really prays for peace at this moment. This is the Trish Regan Show, and I am at my family's house, at my parents' house, away in the good old live, free or die state, hence the, you know, ad hoc studio setup. But it's working, right? It's working. Good to have you all here. Lots going on, right? welcome welcome to the show don't forget to subscribe share like all that good stuff we get some headlines to get to walmart is trying to thwart that boycott that we've been talking about you know all those maga people are getting a little upset that the uh fancy heiress is too good for anyone right you know she's been out there with um some uh advertisement shall we say regarding that whole new kings thing

and that's not sitting well with walmart shoppers so walmart is firing back with some creative ways to try and bring shoppers back in. We'll get to that. Meanwhile, McDonald's facing its own kind of boycott, although this one's coming from the libs. They're kind of upset that, well, they've been upset at Walmart too. It's like, you know, pick your poison for goodness sakes. They're upset because McDonald's is not doing enough with DEI. So there's that going on. As I mentioned, oil prices remarkably lower. The market very strong in the face of what happened over the weekend. We'll get to those development. but a lot of hope right now that maybe we actually have a shot at peace.

Imagine that, right? Donald Trump, daring to go where so many presidents have not dared to go before. We also have a New York City mayoral election that's going to be happening hours from now, at least the primary and the guy that they think is going to win. Well, I'll just say this. I'm with DeSantis. He thinks that real estate in Florida is about to go up even higher, and I think he might be right. If this guy pulls it off, ooh, all bets are off.

welcome again to the show. Don't forget to subscribe, share, like. And I am watching you all in real time so I can see all the comments and we'll be getting to them. Guys, Walmart is really up against it. You see, this boycott is no joke. I mean, really and truly no joke. We've talked about this before, right? The power of the conservative voice and people in the GOP, specifically real MAGA folks, right, didn't appreciate what went down recently 10 days ago with the MAGA sort of slight. If you would, more than a slight, you'd. You had the heiress, the woman who's got billions of dollars, like $18 billion that she is worth coming out and taking a full page ad in the New York Times because she wanted to encourage people to protest against Trump. Well, what has happened? People are protesting against Walmart. Oh, yeah. You know, they were already kind of sick of Walmart because Donald Trump was like,

hey, Walmart, you're going to eat those tariffs after Walmart said, hey, we're going to raise prices. So you got a few things going on. And I'll tell you, she really picked the wrong. to take issue with. And the company knows this. Okay, the company really and truly knows this. And so what are they going to do? They're going to eat the tariffs. Yes, they are going to eat the tariffs. That news just coming today, just a short time ago, a couple of hours ago, as they made an announcement here, a plan if you would a plan to, well, bring prices down for everyday consumers. I guess that means they really are eating the tariffs.

to speak to Donald Trump wanted them to do. Anti-prime day is what they're calling it. You see, you know, Amazon has its prime day. And so this is their version of the anti-prime day where they're going to try and outdo Amazon with better and better deals. Again, trying to lure back all those maga-shoppers that were like, we don't want anything to do with this. We went through some of these tweets. I mean, people are really, really mad. And so as we look at the stock price right now, I'm going to tell you, it is higher at this moment. And part of that is what we're seeing overall in the market, right? The market having this sort of sense of relief that maybe things might actually be coming to a strong and good and peaceful resolution there in the Middle East. And as a result of that,

you have oil moving lower, which is sort of the antithesis of what people would think would happen. And in addition, you have the market higher. So this is actually really good news, I think, for the economy. But as I look at what Barron's was saying just the other day, you had the longest stretch the longest stretch for shares of Walmart in 20 years with the company who's going down, down, down, down, down, down. And why was it going down, down, down, down? It was going down because the heiress to Walmart decided to get clever and put this big ad in the New York Times. I'm really close to the camera today. Sorry, this is the makeshift studio that we're dealing with. So you get to see me right up close and in person. Anyway, the Walmart heiress,

breaking ranks, joining that anti-Trump movement, and that was a big deal. Here she is. She was married to actually the son of Sam Walton, who was the founder, of course, the company, and used to pride himself on American maid. Remember until, well, I guess the 90s came around in China, all of a sudden started making everything. And so this company has such a tradition, and she enjoys the lifestyle that she enjoys. Let's be honest. Why? Because of the conservative base that shops at Walmart. So you really don't want to tick us off. Now, do you? Right? Because, you know, we mean business. I think that we showed that. Did we know? With the Bud Light situation. And we showed it with Target. And so the company, to its credit, is like, whoa. So they're running from her as fast as they can.

I mean, they even put out a statement within minutes saying we condemn violence, including when it's directed towards law enforcement and damaging a property as a company with associates and customers in the Los Angeles region. We remain focused on their safety and that of the impacted associates. This is when the no kings protests were happening. This is by representative, rather vice president, Dan Bartlett from Walmart, who went on to say the advertisements from Christy Walton are in no way connected, nor are they endorsed. Ooh, that's tough, right? Christy, get with the program. They're like, hey, you know what? You know, you're lucky. You got 2% of the company, but she's not on the board, and she doesn't play any role in the decision making at Walmart. And so now the company's like,

gosh, you know, we don't want this to take off in any way, shape, or form. So what are we going to do? We're going to put in our anti-prime day. We're going to go head to head. They've tried it before, but apparently the sales are better than ever. I don't know if it's going to work because actually, I think that MAGA voters aren't really that motivated by money. I mean, really, right, at the end of the day? Sure, they like a good deal. Who doesn't like a good deal? But simultaneously, there's a lot of anger and frustration directed at this woman. She has a history of donating to very liberal projects including, look at that, the Lincoln Project. Mm-hmm.

Conservative group opposed to Trump. She was the host of a fundraiser in Jackson Hole for Kamala Harris' presidential campaign. Historically, you really haven't seen Walmart folks get into politics like that, but she did so. And look, I mean, the reality is she's paying the price, the company's paying the price, or at least it did, for 10 days. I think right now, at this particular moment in time, as we watch, this recovery in the markets that's super exciting to see. I mean, the natural sort of, I think, expectation that many people had was, you know what? Things are going to be kind of dicey.

They're going to be kind of tough. And what do you know? We've got to market. Dow Jones Industrial average. It's up 8 tenths of a percent, S&P trading up almost 1 percent, NASDAQ up almost 1 percent. Why? Because people are like, okay, you know what? He's willing to do something that actually might really make a difference in the course of history. Don't forget, a lot of presidents had this opportunity. Nobody, thank goodness, you know, nobody was killed. They just went in there and with such precision that, you know, there was no air defense, obviously, in Iran over the weekend. I was in my cousin's house nearby in New Hampshire when I got the news, and we were just like, wow, this is really a very aggressive move, bravely.

move in the sense that, you know, it's kind of one of those risks, but a calculated risk. And so he's making a calculated risk that in Iran without nuclear capability is a safer world for all of us. And that was the goal there as they went to take out that nuclear capability. So it's really pretty fascinating. We're in the early stages, early, early, early stages, of course, of all of this. and there's going to be much more to come. But what I would say in terms of Walmart shares, yeah, they may suffer a boycott. People may be angry. They may not go back even for the good deals that you're going to get in the prime, anti-prime days.

However, they're also going to benefit from these lower oil prices if these stick. And this sense that who's really going to be in trouble here might actually be China when you think about it, right? Because the Straits of Hormuz, all the oil that comes through that, you're talking to, about, well, 20% of the global oil supply that comes through there. And if Iran decides to block it, I'm not so sure they would, because that's kind of one of those, you know, Hail Mary kind of moves. If they block that, then they're cutting off their nose despite their face because then they don't get any revenue right from the oil as well. And it also signals to the international community that they don't want to come on board and play ball. So again, as we look at shares of Walmart,

they are trying. The management team there is trying to say, okay, let's extend an olive branch, to the Trump community. Let's try and figure how we can do this, how we can eat the tariffs, really and truly. I mean, that's what's amazing here. Donald Trump writing recently on true social Walmart should stop trying to blame tariffs. Don't forget they did that on an earnings call. They were like, look, the tariffs are going to cost more money. We're going to have to inflate prices, et cetera. Stop trying to blame tariffs as the reason for raising prices throughout the chain. Walmart made billions of dollars, he said last year, far more than expected between Walmart and They should, as it is said, eat the tariffs and not charge valued customers.

Anything. I'll be watching. And so will your customers. So you made a big point of this. The media is like, oh, well, they can't eat the tariffs, right? I think share prices were reacting to this in addition to the boycott. Besson went on television, NBC, and said, you bet they can eat the tariffs and they're going to eat the tariffs. And, hey, you know what we learned today?

They're eating the tariffs. The tax cuts as well. But let me ask you about Walmart, this big news from Walmart. And it says it will start raising prices on its consumers, Mr. Secretary, as early as this month due to the tariffs. Now, President Trump out with a very stern warning on social media saying Walmart, quote, should eat the tariffs, adding the company made far more than expected last year. Is the president asking American companies to be less profitable? I was on the phone with Doug McMill and the CEO of Walmart yesterday. And Walmart is, in fact, they are going to, as you describe it, eat some of the tariffs that just as they did in 18, 19 and 20.

The other thing, though, that we are seeing that Doug passed along to me, that with their consumer, the single most important thing is the gasoline price. And gasoline prices have collapsed under President Trump. So we are seeing that. The other thing that will happen, that is a direct tax cut for consumers. Then the transportation cost are also a big input. So let's see what happens. What you're describing was Walmart's earnings call. The other thing that companies have to do, they have to give the worst case scenario so that they're not sued.

So, you know, I think overall we are seeing a decline in services inflation. And I, you know, we saw inflation come down for the first time in four years. Boom. Well, you know, in my conversation. Here's the amazing thing, you guys. Even though we're looking at this increasing controversy overseas, and I know it's really too early. You can't cut your chickens before they hatch. I get it.

I get it. But just judging by market reaction today, there's a, hope and an expectation that this is going to be good for the United States. And so, yeah, Walmart is actually trading up almost 2%, 1.78%. So they're doing a couple of things. One, they're eating the tariffs, right? They're coming out with all the, you know, they're going to go head to head with Amazon and come up with better prices for Prime Day. They are distancing themselves as much as they can from that heiress who made those comments. And then there's the other reality that this actually, what we saw happen over the weekend may actually bode very, very well for oil prices. Don't forget as well

that the U.S. itself has been aggressively working, especially within the fracking industry over the last several years. And since Donald Trump came into office and said, we're going to open it up. You know what? Drill, drill, drill, baby. That means that the U.S. has better energy independence. And that's a big deal, too, right? Really, really big deal. I'm just looking at shares of Walmart. This is actually as a Friday. So one of the great things that we're seeing today is that, you know, whether you want to say it's great or not, I get it. Like people are annoyed with Walmart and maybe you're boycotting them.

But I'm getting outside of the Walmart shares here for just a minute and thinking in a very macro terminology because from a macro standpoint, right, we want all companies to do well and we want the ability of all of them to succeed. Let me see if I can bring this to you. This is kind of an interesting chart. This was in the Wall Street Journal this morning. morning. And it shows you here, 1977 pre-Iranian revolution, just exactly what the U.S. had in terms of net imports on petroleum and refined products per capita in barrels. And you can see that we

weren't, you know, we were in bad shape. We needed to import everything we could from overseas. And even when you go to the Gulf War, we were very, very dependent, even in the Iraq War. And then all of a sudden, look at today. We have become a net exporter of energy. In other words, we have plenty here. We have enough. And that is a huge plus, especially when we're dealing with what we're dealing with right now. Again, I just want to say, you know, my heart goes out to everyone there, to our service members over there. You know, of course, of the strike in Qatar or Qatar, and that, at least from what we know right now, no individuals were hurt in that. So very good news. And it's being viewed as a bit of a de-escalation, right? A de-escalation.

de-escalation because they admitted when they announced the news, Iran did, that no one had been hurt. So that's lots, you know, lots of good things. Again, 10 straight days of climb for Walmart, they're reversing some of that right now. Again, as the world, I think, becomes more optimistic, more and more optimistic. It's something that we're talking about in today's edition of 76 research. I encourage you to get my newsletter there. Rob and I write 76 research. We have a little financial firm, my very good friend of many years and brilliant investor. And there's a lot of good ideas for you there. And it will help you make sense of what's going on because this is, I think,

just a wonderful sort of moment in time when you see everybody on the same page. Well, that is except for, you know, Alexandria Ocasio-Cortez and a few sort of Uber liberal progressives. But I think the expectation and the hope is that we're going to actually come to some sort of peaceful resolution here and you're going to be able to contain what was very much a concern. and a crisis point in the Middle East. I want to go over to McDonald's right now.

McDonald's suffering a boycott of its own. Can you believe this one? This is a different kind of boycott. This is not one of the magistyle boycott. So we don't know if it's really going to have the same kind of sticking power, shall we say. But it is a company that decided to get rid of its DEI program because of the 2023 Supreme Court ruling and the reality that somebody else is in charge of the White House and they're actually going to hold companies responsible.

So if you're putting in like ABC, all these DEI programs, they're even going back in history and saying, hey, did you used to do this? And if so, we're going to hold you responsible for that. You know, the FCC has launched that investigation into Disney. So McDonald's is trying to distance itself, and that doesn't sit so well with some members of the liberal crowd. It's why they've got a nationwide protest going on a boycott planned for this week, June 24th.

And so this is all because, oh, gosh, darn it, they got rid of DEI. So they're going on an economic blackout tour. The People's Union, it's called. They also are targeting Target and Walmart. Boy, poor Walmart. It's getting it from all angles, right? All ends. Anyway, they're urging Americans to refrain from shopping at some of these places.

Don't go to McDonald's, they say, between the 24th and the 30th. And, you know, it's just one of the companies, again, that is suffering from this. We've seen a host of them, actually, dealing with this. And as I said, from both sides, I do think that the left doesn't quite have the staying power, shall we say, of conservatives on the right. And conservatives were really upset. So I think that that was enough for Walmart to kind of recognize, oh, we've got a problem here. It was enough for Bud Light to recognize it had a problem.

and certainly target as well. All of those companies have started to change their ways. And McDonald's now is getting hit from the left. It's a grassroots movement, they say, a grassroots movement to end this economic injustice and have more accountability, more justice for the working class. You know, of course, they have a funny way of going about it, if you would, just to go to some of their demands. The People's Union claiming McDonald's does the following, which is the group's reasoning, if you would, behind this boycott, saying they exploit tax loopholes. They don't pay their fair share. Gosh, I've heard that one before. Have you guys heard that one before? Makes me think of one AOC. Makes me think of one Bernie Sanders, right? This is a very

common complaint. They don't pay their fair share while we're at it. Makes me think of Elizabeth Warren as well. Engage in price gouging while wages stay low. Oh, you know, because prices went up because there's that little thing called inflation. And so, yeah, it costs like 20 some odd bucks to get like Big Mac and fries in New York City these days. Guys, I'll tell you, you elect this new mayor that you're talking about electing, it's going to go up even more. And then they had this issue. They support political figures who threaten democracy.

Well, you know what that would be. In their view, that's Donald Trump. So the left doesn't like Donald Trump. Therefore, if a corporation does anything that seems like it may be in support of Donald Trump, then boom, you know what? They're done. They're going to be the subject of the left's boycott. They practice performative diversity.

equity and inclusion with no meaningful change. Well, I would argue they're not even practicing it anymore, right? Again, because of the Supreme Court ruling on that. And overall, they're just mad because it's a corporation that prioritizes profits over people, community, and truth. I mean, come on. Like, you're, you just, just move to a, just move to a socialist country. Okay, people's union, you know what? Or you can move to New York City pretty soon because that's getting kind of socialist. We're going to talk about that coming up. But here's the reality. we're in a capitalist nation. And capitalism, I get it, it's not perfect. I'm not going to tell you it is, but it sure darn beats the alternative, don't you think? And you go around the world,

you take your pick. And, you know, there's nothing like this country. Peace of my mind says, Trish doesn't look like Sherry to McDonald's. You'd be surprised. Peace of my mind. I like my McDonald's like anyone else, okay? Plain hamburger. Nothing on it. Nothing, nothing, nothing. But the meat and the bun. You know me. I don't like ketchup, relish, mustard. any of those things. Salt, okay, but none of the other things. French fries and a diet cook. Gosh, I sound a little like Trump. Do I not? Anyway, I've been known to have some McDonald's. My share of McDonald's, when I so, maybe I should go tomorrow, right? In light of the boycott, we can help support the companies that the left so despises at this moment in time. We have a lot

going on, though. I just think that this is amazing. Everything that's happened there in the Middle East, in the last, what, 48 hours. I mean, again, I told you I was Saturday night. I got this news and even debated coming on with you over the weekend, but I thought, you know what, let's let's let's let's let's let's see how this all shakes out. I was optimistic and I even as I was looking at the futures market last night on Sunday evening was like, wow, you know, like the futures, they're not that upset. Like investors are not that upset, which tells you that the smart money actually really believes, if you would, that there's an opportunity for some peaceful resolution here and that maybe the world is a little bit safer. Well, a lot of people are very optimistic.

The market, clearly very optimistic. Oil price is going down, but there's one person in the world that's completely losing over all of this. And that would be the very, in my estimation, immature, Alexandria Ocasio-Cortez. So AOC came out with a big tweet shortly after this went down, and I will share it with you. This was around 9.40 p.m. over the weekend, and she wrote, the president's disastrous decision to bomb Iran without authorization is a grave violation of the Constitution and Congressional War Powers. He has impulsively risked launching a war that may ensnare us for generations.

It is absolutely and clearly grounds for impeachment. AOC demanding that the president be impeached over this. We saw Hakeem Jeffries come out as well with tweets. He did not actually go. so far as to say he should be impeached, but he was questioning his authority to do this. So you're seeing these rumblings. And yet at the same time, you actually have a lot of Democrats that have been very supportive at this moment. I want to go to Senator Federman, for example, out of Pennsylvania, you know the one who can't wear a suit and tie. But you know, he's

growing on me. What can I say? He's growing on me, especially after I heard this. I mean, her own party is coming down on her because she's acting in my estimation like a spoiled little brat. And they're like, get with the program, right? So this is Senator Federman saying, really, no time in place, time in place, honey, you know, this is all wrong. Let's watch. Alex Anno Kazio-Cazio-Cortez says the president shouldn't be impeached because he's impulsive. What do you think of that? No, I mean, of course, no. She knows it. I know it. We all know it. That's not going anywhere. And, you know, he's been impeached twice, and now he's still our president as well now, too.

So it's not going anywhere, and I don't think that's helpful. And I think if you throw that term around, that actually diminishes what the severity of what impeachment is really reserved for. Yeah, right. I mean, he's been impeached twice, and he's not wrong. Fetterman is totally right. When you start throwing this term around and you just want to impeach everyone, then you actually run the risk that you damage the authority, if you would, of Congress. when that's all they do, right? Because they just become the party of opposition. And even when you're

facing the rather significant world crisis that we're facing, if you can't all be on the same team, then you've got a little bit of a problem going on. So Senator Federman kind of trying to put her in her place. And he wasn't the only one over the weekend. I want to share with you with Van Jones, kind of big deal Democrat over there on CNN, which is very, very liberal network. Even he's like, okay, you know what? Enough is enough. And not only did he call out AOC, he called all the progressives who are, well, saying what they're saying, right? You know, they want to go on and on about he needs to be impeached, this is wrong, et cetera. Just listen to Van Jones for a second. I think progressives underestimate how dangerous Iran is. Iran is not a normal country. They cannot have a bomb. And I think

progressives should get on board with that. We cannot have a nuclear armed Iran. I I was in the region. You were in the region. This is a very dangerous power that cannot get a nuclear weapon. Like, that should not be that political. I was Saturday night, again, and live free or die, New Hampshire. And it was a diverse group of political opinions that I was with on Saturday evening. You see, I hang out with all sides, guys. You know me.

Anyway, one person, actually, my cousin, stood up and said, I think that we can all agree. and this is bipartisan, that it's not outrageous to say, you know, we shouldn't have a nuclear Iran, okay? Like, that's not that over the edge. And I think what you're seeing is overwhelmingly Democrats are agreeing with that sentiment, except for those that struggle with their own immaturity and want to make this all about politics instead of the security of the U.S., the security of the world.

And so that is Alexandria Ocasio's problem, once again, right? That is consistently her problem. She's out for me, me, me, me, me, me, me. I mean, who the heck goes on their big socialism tour talking about how people aren't paying their fair share and then rides in a private jet and wants to defend it? I'll tell you who does that, AOC and Bernie Sanders. Okay, so the socialists that are pushing socialists. that want to hate on Trump, no matter what, are increasingly seeming like they're just not jelling with who we are as capitalists in this nation that are trying to secure our future and

our children's future. Again, wonderful news to see the market closing higher on all of this. And I just want to get to those numbers because as we close out the day on Wall Street, it was really, really just wonderful to see the sort of optimism, right? The optimism in the face of all this with the Dow up 9 cents per percent, similar situation. They're up nearly a percent on the S&P 500, and his trade settle out up about 1 percent there on the NASDAQ. So this is really good to see. We have a note on this.

I encourage you. I really do. If you haven't gotten this, please make sure you sign up for 76 research. Use my code word dollar. You'll get it for a dollar a month for the first two months. then it becomes 9.95. You can cancel it any time. So, you know, the most you're going to be out as a dollar. It's worth taking a look at guys. Markets, as I said, reacting in a very positive way, which was not to be expected. I will say there was a brief moment. And I went in. I went in.

I'm like, what's going on? The market's down. I think that was perhaps when we learned that Iran had struck Qatar. And yet once we learned that no one was harmed, and again, my prayers go out to everyone over there and to all of our service men and women. When we learned that that was not what it could have been, et cetera, I think there was some relief. And then you saw the market start turning around in positive territory again. One other thing I just wanted to check in on was gold because gold actually did go higher today. Now, perhaps it's because of maybe the expectation of some unsettling stuff. I'm not entirely, you know, this is one that. You know, this is one Basically, I say it went higher, went higher by like one tenth of a percent.

One would have anticipated, as I said, with these international events going on, that gold would move higher. I wouldn't have expected it to really go down, but I wouldn't have expected oil to go down. I mean, crude oil. Wow. I can make sure this is right. Ending the day off 8.3 percent at $67 and 68 cents. This is crude oil. oil features WTI. I mean, wow, okay? So that's really interesting. If you're interested in investing in gold, one of our great sponsors here on the show, American Heart for Gold, give them a call at 1844-495-115. You can text Trish to $65532, get up to $15,000 in free silver with qualifying offers. So I encourage you to do that. You can also go to Trish lovesgold.com. As all of this happens, however, you know,

you have members of the media that are stuck in their way, much like AOC, and they're stuck on this sort of TDS. syndrome. And one of them actually got really torpedoed, interestingly, on her own program yesterday by Senator Marco Rubio. So this is on the Face the Nation program that CBS has. You know, of course, CBS is struggling with whether or not it's going to settle with Donald Trump. They may have to pay like up to $50 million to settle with him. And it's become the source of a lot of internal aggravation. And so I mentioned that only because You can imagine that this particular host, as she went into her program and knew she had Secretary of State Rubio on there, there's a lot of pressure perhaps internally to make sure that they're always giving the other side.

And hey, look, there's nothing wrong with that. We should hear all sides. It was just kind of amusing how he struck her down so vehemently. And she clung to her position. And at some point, he's kind of like, look, whose Secretary of State is? And me or you, honey? Well, he didn't say exactly that. That's my paraphrasing.

But let's watch exactly what Marco Rubio had to say to the CBS host on Face the Nation. Are you saying there that the United States did not see intelligence that the Supreme Leader had ordered weaponization? That's irrelevant. I see that question being asked on the media. That's an irrelevant question. That is the key point in U.S. intelligence assessments. You know that. No, it's not.

Yes, it was. No, it's not. No, I know that better than you know that, and I know that that's not the case. But I'm asking you whether the order was giving. And the people who say that, it doesn't matter the order was given. They have everything they need to build nuclear weapons. Why would you bury, why would you bury things in a mountain, 300 feet under the ground? Right.

Why would you bury six, why do they have 60% in rich uranium? You don't need 60% in rich uranium. The only countries in the world that have uranium at 60% are countries that have nuclear weapons. Because they can quickly make it 90. They have all the elements. Why do they have a space program? Is Iran going to go to the moon? No, they're trying to build an ICBM so they can want to put a warhead on it.

That's a question of intent. And you know in the intelligence assessment that it was that Iran wanted to be a threshold. How do you know what the intelligence assessment says? I'm talking about the public March assessment. And that's why I was asking you if you know something more from March, even the order was given. That's an accurate representation of it. That's not how intelligence is read. That's now how intelligence is used.

Here's what the whole world knows. Forget about intelligence. What the IAEA knows, they are enriching uranium well beyond anything you need for a civil nuclear program. So why would you enrich uranium at 60% if you don't intend to one day use it to take it to 90 and build a weapon? Why are you developing ICBMs? Why do you have 8,000 short-range missiles and 2,000 to 3,000 mid-range missiles that you continue to develop? Why do you do all these things? They have everything they need for a nuclear weapon.

They have the delivery mechanisms. They have the enrichment capability. They have the highly enriched uranium that is stored. That's all we need to see. Right. Especially in the hands of the regime that's already involved in terrorism and proxies and all kinds of things around. They are the source of all this.

And no one's disputing that. I'm not doing that here. And they were censured at the IAEA for that enrichment and for violating their non-proliferation agreements. I was simply asking if we had intelligence that there was an order to weaponize because you said weaponization ambitions, which implies they weren't doing it. to build a nuclear weapon. And that's more than enough. Okay. So that's an interesting distinction, right? And don't forget, a lot of folks on the left who hated Tulsi Gabbard, right? Like,

they absolutely despised her and they thought that she was a threat, et cetera, et cetera. And it was in part because she didn't recognize back in March that Iran was this nuclear threat, that they came out so vehemently against her. And they thought, okay, well, she can't, why do we, why do we have this woman is our head of the Department of National Intelligence. So there was a lot of pushback then, but kind of like the same crowd is now echoing what she said. And she's come out and said, look, you know, things change and the assessment has changed. And we don't need to drive this wedge. The president has information that he believes that it was indeed, Iran was indeed in the process of trying to create a nuclear weapon. And whether or not they had it or whether or not they

were close to having it, I think Marco Ruhr was. Rubio is making it really clear. We don't care. The point is they want it and they're working towards it. So let's do what we can peacefully enough as we have this opportunity. Their air defense was completely taken out by Israel. So we can go in there and we can dismantle their program. And that is what happened. And again, I'm just, you know, I can be agnostic in this. I'm going to tell you what the market thinks. The market likes it. Oil prices are down. I mean, can you believe that we're down 8% on WTI? That's amazing, right? And the market's up because the belief is we're getting closer to peace. But, you know, there's going to be the holdouts. There's going to be the media. As I read the paper the next morning, the New York Times, it said that the U.S. had entered war with Iran.

Well, the administration is making it very clear. They don't want this to be a war and that there is an opportunity for, Iran to come to the table and, you know, not be in that kind of situation. So why is it that everybody immediately escalates it to that? And it may just be, again, TDS on steroids. And you're seeing that, whether it's from the media, you're seeing that whether it's from AOC, certain kind of Democrats that want to make their career out of this. I would just remind them, again, let's go back to Van Jones on CNN because he said it better than anyone. The progressives need to get it through their head what's really at stake. I think progressives underestimate how dangerous Iran is.

Iran is not a normal country. They cannot have a bomb. And I think progressives should get on board with that. We cannot have a nuclear armed Iran. I was in the region. You were in the region. This is a very dangerous power that cannot get a nuclear weapon. Yeah.

I mean, well said. Okay. Again, and this is a guy who's a big deal Democrat. So I think it's important that everybody kind of coalesce around this idea that less nuclear stuff out there the better. And you don't want a country that has aspirations of wiping other countries off the earth, having access and ability and power to do that. That's pretty darn simple. But again, not everybody believes this. An AOC is certainly one out there who's using this as an opportunity to knock,

Trump, one can anticipate that the mayoral candidate there in New York City, who looks like he's going to win the primary, is also of a similar persuasion. I just could tell you, this guy, wow, I mean, he might actually pull it off. Zohran, Mamdani. Now, like, a couple months ago, nobody knew his name. He went up to protest Tom Holman at one point in Albany. That was the first I'd seen of the guy. And AOC came out all form, but I thought, well, you know, she did that. that she did that for the fire alarm guy. Remember Bowman? He pulled the fire alarm rather than actually have them vote on the budget. Wow. Anyway, he wound up not winning his race no matter how much dancing she did on the stage and how much she used of taxpayer dollars for those dance lessons. It didn't

matter. The dancing didn't help. He did not win that election. So, you know, a lot of us thought Zohran, you know, we'll see. We'll believe it when we see it. guess what? You're going to have to believe it when you see it because here's Polymarket right now, and he's ahead of Andrew Cuomo in the Polymarket expectation. And they've been pretty right, right? Like we were quoting them a lot during the actual election because they have been spot on. Real money is on the line in that particular case. In an American, you can't actually bet on it, but a lot of foreigners are. And right now the expectation is that he is going to win this thing. This is AOC's candidate, if you would. And one of the reasons he may win is because they have

kind of a funny system where somebody has to get 50% of the votes. And he's not going to get 50% but neither, neither is Cuomo. And you have so many people in this race, so many people in this race, including that guy, Brad Lander. Remember Brad Lander who made a big stink there? He's the city controller. And he actually wound up getting carried out in cuffs recently there because he was trying to defend someone who ICE was after. And so he made kind of a name for himself. And so what you're seeing is he got a lot of attention. And apparently in the runoffs,

people are choosing to go with this new guy that nobody had heard of up until recently when Brad doesn't win the day. This is Brad, just to jog your memory. I'm not obstructing. I'm standing right here in the hallway. I ask to see the judicial warrant. By asking for a judicial warrant. You don't have the authority to arrest U.S. citizens asking for a judicial warrant.

There he is, getting carried away. His wife took this video, and they put this out right away, trying to milk it. Hi, I'm the comptories. Press Secretary. Where are you taking the controller of the New York? The city of New York. And with what authority? And so there he is. He's getting hauled off. You can see. No violence. Nothing like that. We don't see him bumping himself up like La Monica into any of the ice agents, but he gets pulled away and pulled into the elevator, and they eventually released him, et cetera. But it caused him to get a lot of attention. I'm going to get to this in just a second because the guy that may actually win, Mamdani could actually create a big exodus in New York. And that actually

bodes very well for Florida real estate, which DeSantis is no fool. He's actually recognized. that one. All in all, if he wins, it could backfire badly on the Democrats and backfire, frankly, on New York City, okay? Because one of the things that he has been pushing for as a socialist candidate is higher taxes. This is his New York City tax hike that he wants. He wants to impose a 2% income tax on those making more than a million dollars a year. Don't forget, they're basically already paying half to Uncle Sam anyway, and he wants to get more for New York city, he also wants to boost corporate taxes from 7.25 to 11.5% which would match what New Jersey has. So what are you going to see? You are going to see everybody leaving New York. That's

exactly what you're going to see. I'm sorry, but like I can't imagine in any other way because as soon as that happens, guys, companies are going to say, well, we're not going to pay this, right? We don't want to pay this. And so consequently, they're going to move. And where are they going to move? going to move to Texas, so they're going to move to Florida. And Ron DeSantis knows this. So he tweeted this out, just when you thought Palm Beach real estate couldn't go any higher. Shocking new poll shows Mamdani overtaking Cuomo in New York City's ranked primary choice. Now, once the primary happens, you'll have until November, because on November 4th, that's when the Democrat would be up against the Republican. But, you know, New York is a pretty liberal place, New York City. So one would think that

the liberal is going to win. Maybe the Republican will stand a shot. We'll see. But I will say this. You know, DeSantis isn't wrong. Real estate prices in New York are already sky high. But already, people are talking about relocating their businesses, their trading businesses. A lot of them have done it already. Think Carl Icahn, right? A lot of hedge funds relocated to Miami. Bill Hackman is talking about taking Persian Square out of New York, out of Manhattan to Miami because you got zero percent income tax. That's pretty sweet versus, I mean, you already got 4% in New York City. So anybody making more than a million would be looking, I guess, at 6% and you've got the much higher tax rate on corporate profits. I mean, look, the pendulum swings. Maybe eventually people figure out this

guy's not the answer because he's going to deplete himself of any capital that the city might have had. Like already, it's hard enough in New York City. Everybody's like, bye-bye, see you later, sayanara. I don't need to sign up for high crime and high taxes. And yet, you know, Mr. Mamani here wants both, wants both. So watch this very carefully. It's bad news. I'm telling you, bad, bad news for the Democrats. They're going to be sitting there sweating. Like, how did they ever allow AOC to get the kind of attention she's getting? And now this one's coming along, and he's really going to decimate the future of the Democrat Party. I'll tell you one person who's kind of happy about it, in addition to AOC, that would be Letitia James. She hates Andrew Cuomo,

interestingly enough. We're going to get to that in a second. But, you know, here as we talk about who's going to win New York City mayor, think about it. I mean, look, I know a million dollars is a lot of money, but in New York City, which is the financial capital world of the world, you have a lot of people earning that. And after taxes, it's 500. None of them send their kids to regular schools because you can't in New York City. So, you know, you get three kids. that's minus 150 right there. Actually, it's probably more like 60K these days. So that's minus 180 right out of pocket.

I mean, you do the math, okay? It's hard to live in New York City. Costs are very, very expensive. So anybody who can will hightail it out. And this guy is going to be left with a bunch of people who can't contribute to the city's coffers and he's going to be left with high crime and no money to fight it.

So good luck to him. Listen, I'm glad I'm out of there. Thank you very much. A lot of people are very, very glad they're out of there. Thank you very much. But this New York City mayoral race is happening tomorrow. Record heat's expected. So a lot of the older people that would maybe come out and vote for Cuomo, they may not come out to vote because the heat's so insane. Kathy Hochle has just passed a law saying we can give out free water to everyone. Apparently all the hipsters, though, in Brooklyn, well, they're not going to be deterred. And simultaneously, a lot of them actually already voted early. So again, one to watch because it's kind of a barometer, if you would, for the Democrat Party. And I think it's going to be problematic. It's going to be problematic. Face it for New York City. Because if those tax hikes were to go through, even though Kathy Hokel is saying, no, no, no, it's not going to happen. If that were to ever happen and they got 6% municipal taxes, if they got the higher tax rate in New York City for all those financial firms matching New Jersey, there will be a mass exodus. because on top of it, because of salt, right, you can't deduct that from your federal bill anymore. Look, it's a big deal. We have a lot going on today. There's a lot going on. Obviously, overseas in the

Middle East, there's a lot going on with the mayoral race being a barometer for the Democrat Party happening tomorrow in New York City. But I don't want to lose sight of the big, beautiful bill, right? Nor does Donald Trump. He's actually out putting things on truth social right now about that important that it gets done. Important that it happens. Why? Because it is critical for the safety and success of our U.S. economy. We need the extension of those tax cuts. And you know who agrees with me? My friends over at AFP, we love those guys. You can go to Protect Prosperity to learn more today. ProtectProsperity.com. They have a whole grassroots effort if you want to get involved. But it's really important that all of this happen and relatively soon.

You know, I want to get to another sponsor on this show. Our friends at Balance and Nature, you know, I take my fruits and veggies. Fruits and Veggies from Balance of Nature. Can't beat it. That plus a whole lot of water and exercise and doing what I can to eat well. With the occasional McDonald's, okay, peace of my mind now and then. Yeah, occasionally I splurge. But anyway, Balance of Nature, just a great company. And we thank them for all their support here. You can get Balance in Nature.

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shipping and money back guarantee. You can call them at 1-800-246-8751. Again, it's 180-246-8751. That's balance-in-nature.com. I mentioned, did I not? Latisha James being perhaps the only one besides AOC that would like to see that guy elected mayor. She does not like Andrew Cuomo and she also really doesn't like Elon Musk. Elon Musk is now suing Latisha. He's targeting her in this new lawsuit. The ex has against Letitia James and I think it's just fantastic. Absolutely positively great. And you know what he's going to win. He's going to win because I'm going to tell you this right here, right now. It's already been fought out in the courts. Just look at what happened in California. X sued California because the California AG was trying to argue a similar thing. But, you know, Letitia can't take a hint. She's going to have her own crack at Elon and all social media companies. So now she's trying to that there's all these regulations surrounding what's misinformation, disinformation, et cetera.

And she wants to be able to control that. And he's like, no way. No way, Jose, you're not going to control that. This is my platform. I'm an independent company. Gosh, you really think she can insert herself. Does she not, guys, into independent companies and what they do, think about Deutsche Bank and one Donald Trump.

Same kind of scenario. She thinks she can actually determine the valuation of Mar-a-Lago rather than the bank that's trying to make the loan? I mean, that one. man, oh man, oh man, it's just unbelievable. And I'm disgusted with the appellate court for not having come out with a decision on that one because it needs to be thrown out and needs to be thrown out fast. But I'm telling you, she's got no shot on this. And we know this because we have this little thing called the First Amendment, do we not Congress, shall make no law respecting

an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or of the right for peaceful assembly, etc. You know the First Amendment. I know the First Amendment. Apparently, Letitia doesn't know the First Amendment. She doesn't know it at all. But, you know, Elon has talked about this before because there's this effort, if you would, on behalf of the Democrat Party to control what you hear, what you see, what you know. It's one of the reasons why he bought X. Look at what he put out when California and X were going at this. John Kerry is in the headlines there at Daily Wire. John Kerry, quote, if Democrats win, we can, quote, change First Amendment to fight, quote, disinformation is the headline. And he

writes that the Democrat Party is openly stating that they want to change the Constitution and that they want to end free speech. It's pretty clear because I'm pretty sure we heard this from AOC just last week, actually. She too wants to change the rules, much like Leticia James, around free speech. Watch. You know, I do think that several members of Congress in some of my discussions have brought up media literacy because that is a part of what happened here. And we're going to have to figure out how we reign in our media environment so that you can't just spew disinformation and misinformation. It's one thing to have differing opinions, but it's another thing entirely to just say things.

that are false. And so that's something that we're looking into. Oh, yeah, you're looking into. You see, they want to require social media companies like X to have some kind of processing and reporting to the AG, because the AG, you know, Leticia James is going to be the one to be the final arbiter of what's truth, what's not truth, what's misinformation, disinformation, et cetera. And X is saying, no, we're not going to do this. And I'm going to point out that X tried this. And one, they're in the state of California. So again, this is kind of big news.

We talked about this a little bit on Friday. I just want to put it on your radar because it's going to heat up in time. This is an important lawsuit, an important lawsuit in terms of protecting our freedom of speech. But for whatever reason, this woman, Letitia, just loves to burn through cash and she wants to burn through taxpayer money there in New York. She needs to get voted out, talking about people getting voted out. she really does. Here is what I was just telling you about. Last fall, last fall, a panel of federal appellate judges blocked portions of the California law, at least temporarily, on free speech grounds the state subsequently settled agreeing not to enforce the content moderation reporting

requirements. Why? Because you can't. Because there's something called the First Amendment. So Letitia James has no problem violating the First Amendment. She has no problem trying to take her political enemies and bankrupt them as we saw her do over and over again with Donald Trump. That was her mandate. And she made it really clear. I mean, she campaigned on it. She told us she didn't, but my gosh, we've run all the tape. You've seen all the tape at Najim. She certainly campaigned on it. And now when people are like, well, what are you doing? Why are you going after this? Especially in light of everything getting struck down by the court, most recently, what did we learn? We learned that yes. In fact, Donald Trump can't.

can nationalize or federalize the National Guard in moments when he needs to. And California can't say squat about it, right? That just was decided last week on Friday by the Ninth Circuit. It's going to be decided again for New York because she's made it her thing to take it up again in the court. And it's like, honey, this stuff has already been decided. Why do you keep going back over and over again? And she says, I'm going back.

This is why you got me in here. This is my job to keep going back. And you want, but you elected me to use the law. You elected me to go to court. You elected me to continue to challenge this administration. You elected me to stand up for the least of God's children. You elected me to continue fighting on. And I will fight on.

So this is the latest and greatest fighting on here, deciding to go after Elon Musk. and he counters this with a lawsuit against her. So Elon is targeting New York and Letitia James, and I'm telling you, I'll make the prediction right here, right now, that he is going to win. She is so far out over her skis yet again, yet again. I mean, this one really, really, I mean, you talk about voting people out.

This one really needs to get voted out. And maybe she will. I mean, as we look at some of the poll information, on her. She is certainly challenged. Again, pretty positive reaction in the markets. As I said, oil ended the day down some 8%. So there's a lot of optimism, basically. And the New York Times is even admitting this. Here's the quote in the New York Times. Oil skids and stocks rise as traders gauge fallout from Iran strikes. Hope for a de-escalation in the conflict was most evident in the energy market where oil prices fell more than 7%. So I may be looking at live oil prices now, as I said,

they're down more than 8%. And the S&P climbing. So what a wonderful response, I think, to see. And let's hope. Let's hope. I think we all pray for peace. We all want peace without a doubt. And maybe we have a shot at indeed getting it. Again, oil down for the day, we saw gold rising slightly, gold up just a bit. in investing in gold, I encourage you to contact one of our show's sponsors, American Heart for Gold. You can text Trish to 65532 for more information. Go to Trish lovesgold.com, or you can call them at 1844495, $1,1,000, up to $15,000 in free silver for qualifying offers. The other thing I would remind you to do is to make sure, to make sure that you go and sign up for our research at 76 research that's by me and a dear longtime friend who's really smart on this stuff,

has run billions of dollars for many years. And, you know, I'm not too bad myself, right? Like, if you look at my track record, I think I've got a pretty darn good track record calling all of these things, at least from the macro perspective. I'm laughing at Dennis's comment, please stop playing Letitia James. We don't ever want to hear Latisha James again. I get it. I get it. But you know what? I'm a big believer. I'm a big believer in knowing what they're saying because it's just so important. You know, I was watching Morning Joe, believe it or not. See, I do these things, so you don't have to. And I was struck by even the optimism that I saw there this morning. The majority of people that they had on were very positive.

So I'm just going to say this. You know, Donald Trump really went on on a limb. He did something that presidents before him have had the opportunity to do and chose not to. He's really swinging for the fences. When he says he wants peace in the Middle East, when he says he wants a chance at that Nobel Peace Prize, he's really not kidding. Pakistan, by the way, nominated him because of the peace deal that he was able to strike with India. So when you have somebody who doesn't care but is motivated by only the desire to see a peaceful outcome, I think that that actually is a pretty darn good thing, a very, very, very,

darn good thing. We have some more breaking news crossing at this moment, guys, and I want to share with you. This just coming in, the Supreme Court has granted President Trump's emergency request to resume deporting migrants to countries other than their homeland. That's actually really important, especially in light of some of the concerns right now. Don't forget the concerns over whether or not there might be any challenges here in the homeland. that that is is you know when you look at everything that they've been doing with ice to get any possible criminals or threats out of the country one of the things that went through the back of my mind was whether or not any of this was also intentional knowing that they were going

to take issue of course with Iran and that they might be confronted with some some challenges as a result of that so I think this is pretty pretty important. Let me change the lower third here for all of you. Trump gets a green light, we should say, from Supreme Court to allow the removal of people who are here in this country illegally. In this case, this is to remove migrants to South Sudan and other turmoil-filled countries. So the Supreme Court, again, having to do a lot of work. They're working overtime these days. On Monday, granting President Donald Trump's emergency request to resume the deportation of migrants to countries other than their homeland. So that's rather fascinating. Don't forget, that was a big

issue, of course, with Garcia, other than their homeland, including places like South Sudan with minimal notice. And CNN writes, the decision is a significant win for the Trump administration, which had argued that a lower court usurped its authority by ordering the Department of Homeland Security to provide written notice to the migrants about where they would be sent, as well as the opportunity to challenge that deportation on the grounds that they feared being subjected to all kinds of problems when they got home. So the typical sort of down, as you would, expect with the three liberal justices, the decision being decided by the conservative justices as Sonia Sotomayor, Elena Kagan, and Katanji Brown Jackson were all part of the dissent.

But we're seeing this more and more that the Supreme Court is coming out on behalf of Donald Trump. So again, I think that there's a lot of reason to be optimistic right now about the future. I think what we saw today was a really big deal for oil prices for the market. and hopefully we are on this path to peace. So I'm excited. I hope you guys are excited. I'm just looking at some of your commentary. And yes, Don, Don's like writing my lower thirds for me right here. Skoda's Greenlight's Trump deportation program. Thank you for that. It's a big, this is a big deal. This is a big deal. We'll have much more on that. Again, coming for you tomorrow. I appreciate you all being here. Thank you so much for tuning in. Don't forget to subscribe, to share, to like, to make a

comment if you're catching this after the fact, after the live, make sure you weigh in every little bit helps and I will see you here live, hopefully a little earlier tomorrow.