1 00:00:04,879 --> 00:00:05,599 Speaker 1: What's going on. 2 00:00:05,759 --> 00:00:08,119 Speaker 2: Thank you so much for listening to this podcast. It 3 00:00:08,240 --> 00:00:10,080 is heard live every day from noon to three on 4 00:00:10,240 --> 00:00:13,839 WBT Radio in Charlotte. And if you want exclusive content 5 00:00:14,000 --> 00:00:17,160 like invitations to events, the weekly live stream, my daily 6 00:00:17,199 --> 00:00:19,239 show prep with all of the links, become a patron, 7 00:00:19,320 --> 00:00:22,640 go to dpeakclendarshow dot com, make sure you hit the 8 00:00:22,640 --> 00:00:25,160 subscribe button. Get every episode for free right to your 9 00:00:25,160 --> 00:00:27,719 smartphone or tablet. And again, thank you so much for 10 00:00:27,760 --> 00:00:31,359 your support. Tons of messages. I'm gonna try to get 11 00:00:31,359 --> 00:00:35,439 to all of them and your calls, So let me 12 00:00:35,479 --> 00:00:40,479 start here. Picking up on message from Timoteo from last 13 00:00:40,520 --> 00:00:43,479 hour in the conversations we've been having about all of 14 00:00:43,520 --> 00:00:48,759 the tariff strategy. Here, he says, the miscalculation I believe 15 00:00:48,799 --> 00:00:53,840 Trump has made is that the Chinese leader g has 16 00:00:53,920 --> 00:00:56,280 no problem letting his people starve in order to win 17 00:00:56,320 --> 00:00:59,280 a trade war. Personally, I'm sitting on some cash after 18 00:00:59,320 --> 00:01:02,600 pulling my money out the day before Russia's invasion of Ukraine. 19 00:01:02,679 --> 00:01:05,719 I will buy the dip. Trump is using tariffs as 20 00:01:05,719 --> 00:01:08,920 a participation fee if you want to sell in the US. 21 00:01:09,159 --> 00:01:12,439 The US wants a taste, and I don't agree with that. 22 00:01:12,519 --> 00:01:14,359 Speaker 1: Approach. That's from Timoteo. 23 00:01:16,000 --> 00:01:19,799 Speaker 2: And then this is from Moral Compass, who says you 24 00:01:19,840 --> 00:01:23,920 are correct about companies moving from China to Vietnam. Nintendo 25 00:01:24,280 --> 00:01:27,799 moved production of the switch to which is I think 26 00:01:27,799 --> 00:01:32,959 that's the handheld gaming thing. Yeah, the handheld video game system. 27 00:01:33,400 --> 00:01:36,319 And so they moved production of the switch to to 28 00:01:36,519 --> 00:01:39,560 Vietnam and just announced a few hours ago that they 29 00:01:39,560 --> 00:01:43,439 are delaying pre orders in the US because of the uncertainty. 30 00:01:43,680 --> 00:01:49,400 And I did see this. This is from Nintendo and 31 00:01:50,799 --> 00:01:54,599 Game Stop, which is the store that sells video game stuff. 32 00:01:54,920 --> 00:01:57,879 Pre Orders for Nintendo Switch To in the US will 33 00:01:57,879 --> 00:02:01,480 not start April ninth in order to assess the potential 34 00:02:01,519 --> 00:02:05,599 impact of tariffs and devolving market conditions. Nintendo will update 35 00:02:05,640 --> 00:02:08,439 timing at a later date. The launch date of June 36 00:02:08,560 --> 00:02:12,960 fifth is unchanged, so they do. So there's a difference 37 00:02:12,960 --> 00:02:15,840 here the launch versus the pre order, right, so you 38 00:02:15,879 --> 00:02:20,319 pre order your device and then you're basically guaranteed one, 39 00:02:20,360 --> 00:02:23,719 you're reserving one, and then when they launch on June fifth, 40 00:02:23,719 --> 00:02:25,199 then you go to the store and you pick it up. 41 00:02:25,400 --> 00:02:27,520 Speaker 1: Right, And so. 42 00:02:27,439 --> 00:02:30,639 Speaker 2: They're still looking to do the launch on June fifth, 43 00:02:31,599 --> 00:02:34,639 but they're not doing pre orders now, and I suspect 44 00:02:34,680 --> 00:02:36,199 that's because they don't know what to sell them for. 45 00:02:39,120 --> 00:02:42,080 GameStop will continue to work closely with Nintendo and provide 46 00:02:42,120 --> 00:02:45,599 updates as soon as more information becomes available. Stay tuned 47 00:02:45,919 --> 00:02:53,439 for details. Okay, so that's from GameStop. And and I 48 00:02:53,479 --> 00:02:58,639 mentioned earlier Nintendo moved more than half of its US 49 00:02:58,680 --> 00:03:02,319 hardware or sorry, more than half of it's US hardware 50 00:03:02,360 --> 00:03:08,000 is manufactured in Vietnam and Cambodia. Now Nintendo is thanks 51 00:03:08,039 --> 00:03:14,199 to the adjustments that Nintendo made during Trump's first term. Right, 52 00:03:14,280 --> 00:03:18,960 So Trump nails China with the tariffs as a way 53 00:03:19,000 --> 00:03:23,919 to induce manufacturers to get out of China, and it works. 54 00:03:25,120 --> 00:03:30,240 They go to Vietnam, also communist and Cambodia, and now 55 00:03:30,280 --> 00:03:33,680 he's hit them with tariffs. Well I shouldn't say them 56 00:03:33,680 --> 00:03:36,000 because I don't know if Cambodia got hit with tariffs too. 57 00:03:39,360 --> 00:03:40,360 Speaker 1: Oh yeah, both of them. 58 00:03:40,439 --> 00:03:43,639 Speaker 2: So both Vietnam and Cambodia apparently both got forty seven 59 00:03:43,680 --> 00:03:45,439 percent tariffs on them. 60 00:03:47,120 --> 00:03:48,919 Speaker 1: And so now are they going to move again? I 61 00:03:49,680 --> 00:03:50,039 don't know. 62 00:03:52,479 --> 00:03:56,479 Speaker 2: Representative Jeff Van Drew, Republican from New Jersey, went on 63 00:03:56,560 --> 00:04:00,400 Fox Business Channel and he said we We knew this 64 00:04:00,479 --> 00:04:02,680 was going to be a little bit bumpy in the beginning. 65 00:04:02,919 --> 00:04:05,919 But let's understand what it's about. It's about fairness. It's 66 00:04:05,919 --> 00:04:09,520 about America first, not America last. We have been getting 67 00:04:09,560 --> 00:04:11,960 the short end of the stick for years, and it's 68 00:04:12,000 --> 00:04:16,279 important that Americans understand this. These are reciprocal tariffs. See 69 00:04:16,279 --> 00:04:19,120 I disagree with that. I think reciprocal means they're equal, 70 00:04:19,120 --> 00:04:23,920 and that is not what's happening. We have been tariffed, 71 00:04:24,240 --> 00:04:27,439 our goods are tarriffed. We are always at an unfair 72 00:04:27,519 --> 00:04:30,839 disadvantage with these countries. So it's going to be a 73 00:04:30,879 --> 00:04:33,639 little bumpy. They are going to cry, they are going 74 00:04:33,639 --> 00:04:37,079 to yell. I spoke to the President personally yesterday. He 75 00:04:37,240 --> 00:04:40,000 was telling me that already countries are coming to him 76 00:04:40,519 --> 00:04:43,000 and saying, let's work this out. We can make a 77 00:04:43,040 --> 00:04:46,680 fair deal. We can do better. We will everybody, just 78 00:04:46,720 --> 00:04:49,279 hold on a little bit, be a little strong. Wall 79 00:04:49,279 --> 00:04:52,319 Street will come back. But this is also about Main Street. 80 00:04:52,399 --> 00:04:58,519 This is about making things in America. I will point 81 00:04:58,560 --> 00:05:02,600 out though, that the initial line from the White House, 82 00:05:02,959 --> 00:05:09,680 their position was that the tariffs were not negotiable, and 83 00:05:11,319 --> 00:05:17,160 when people were saying that this is being done in 84 00:05:17,240 --> 00:05:21,000 order to prompt negotiations. They were told, no, that's not 85 00:05:21,120 --> 00:05:26,160 the case, and now we're hearing that they are negotiating. 86 00:05:26,680 --> 00:05:29,480 Donald Trump just put out a post on truth Social 87 00:05:29,839 --> 00:05:34,680 had a very productive call to with Toe Lamb, or 88 00:05:34,759 --> 00:05:39,199 to Lamb, who was the General secretary of the Communist 89 00:05:39,279 --> 00:05:42,680 Party of the Vietnam who told me that Vietnam wants 90 00:05:42,680 --> 00:05:44,920 to cut their tariffs down to zero if they are 91 00:05:44,959 --> 00:05:47,480 able to make an agreement with the US. I thanked 92 00:05:47,519 --> 00:05:49,279 him on behalf of our country and said, I look 93 00:05:49,319 --> 00:05:53,879 forward to meeting in the near future. So it is 94 00:05:53,879 --> 00:05:59,319 about negotiations. So they were just lying yesterday in order 95 00:05:59,399 --> 00:06:04,759 to negotiations. And maybe that's the case. That's what I said, Like, 96 00:06:05,720 --> 00:06:09,279 if this all works out, then Donald Trump will go 97 00:06:09,360 --> 00:06:12,560 down in history as a transformative in a good way, 98 00:06:12,639 --> 00:06:14,240 a transformative president. 99 00:06:16,800 --> 00:06:20,120 Speaker 1: But he better be right, Like that's the thing. You 100 00:06:20,199 --> 00:06:21,439 better be right. That's the deal. 101 00:06:21,560 --> 00:06:24,399 Speaker 2: Like when you play in these types of high stakes 102 00:06:24,439 --> 00:06:30,120 games and literally billions of people's standard of living depend 103 00:06:30,360 --> 00:06:34,639 on you not messing up and getting a deal done. 104 00:06:36,040 --> 00:06:38,759 Speaker 1: If you're not successful, you've harmed a lot of people. 105 00:06:41,680 --> 00:06:46,160 Speaker 2: The trade announcements have sparked uncertainty about the cost of 106 00:06:46,199 --> 00:06:48,439 goods to Americans, which the White House Press Secretary of 107 00:06:48,439 --> 00:06:52,319 Caroline Levitt brushed aside Tuesday during a press briefing, arguing 108 00:06:52,319 --> 00:06:56,720 that the tariff plan is going to work quote which 109 00:06:56,720 --> 00:06:59,519 again I say, let's hope. So one other thing I 110 00:06:59,560 --> 00:07:04,120 came across this the other day. There is a guy 111 00:07:04,160 --> 00:07:07,399 by the name of Frank Dakota. He is a senior 112 00:07:07,439 --> 00:07:10,560 fellow at the Hoover Institute, and he has recently returned 113 00:07:10,560 --> 00:07:13,040 to the United States after living in Hong Kong since 114 00:07:13,120 --> 00:07:16,720 two thousand and six. And he's got a book called 115 00:07:16,879 --> 00:07:21,399 China after Mao, The Rise of a Superpower, and he 116 00:07:21,480 --> 00:07:27,560 actually challenges the prevailing narrative about China's rise. He argues 117 00:07:28,079 --> 00:07:33,399 that the Communist Party has projected very masterfully, but has 118 00:07:33,439 --> 00:07:39,160 projected an image of a powerful, modern, and economically dominant nation. 119 00:07:40,240 --> 00:07:45,759 But that is largely a facade, which does make sense 120 00:07:45,839 --> 00:07:51,639 because rule number one communists lie. You ever see those 121 00:07:51,720 --> 00:07:55,279 videos of like, oh, look, this is the Chinese building 122 00:07:55,279 --> 00:07:58,000 a building in twenty four hours. It's like time lapse 123 00:07:58,279 --> 00:08:00,279 video where it shows them putting up a building, like 124 00:08:00,399 --> 00:08:02,560 usually in the middle of nowhere or some farmers field, 125 00:08:02,639 --> 00:08:05,240 or something, which they you know, kicked the farmer off 126 00:08:05,240 --> 00:08:07,399 that land and took the land and set up a 127 00:08:07,480 --> 00:08:12,240 video camera and recorded the construction of this building. And 128 00:08:12,279 --> 00:08:17,199 it's supposed to demoralize other countries. It's supposed to show 129 00:08:17,560 --> 00:08:20,240 look at us, look at our cities, We're awesome, right, 130 00:08:21,079 --> 00:08:22,959 Which now, as I'm saying that, it reminds me, I 131 00:08:22,959 --> 00:08:25,839 forget the Soviet leader that came to America for like 132 00:08:25,920 --> 00:08:28,839 some un deal or whatever. And as he's flying into 133 00:08:28,879 --> 00:08:34,320 New York City, it's rush hour and he sees all 134 00:08:34,399 --> 00:08:39,480 of the cars basically just you know, jammed up in 135 00:08:39,519 --> 00:08:42,960 New York City for miles and miles all around, just 136 00:08:42,960 --> 00:08:47,000 just traffic everywhere. As he's flying in, and he becomes irate, 137 00:08:47,320 --> 00:08:51,200 thinking that this was American propaganda, meant to send a 138 00:08:51,200 --> 00:08:54,320 message that we are more advanced than you are. Right, 139 00:08:54,519 --> 00:08:58,480 that's how commis think. Here's a great idea. 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Call her 159 00:10:01,039 --> 00:10:04,360 text eight two eight, three six seven seventy sixty eight 160 00:10:04,679 --> 00:10:06,799 or check out all there is to offer at Cabins 161 00:10:06,840 --> 00:10:10,399 of Ashville dot com and make memories that'll last a lifetime. 162 00:10:11,720 --> 00:10:15,519 Deep breaths, everybody, Let's go to the phones and talk 163 00:10:15,559 --> 00:10:18,720 with Ray. Hello Ray, Welcome to the program. 164 00:10:18,879 --> 00:10:22,639 Speaker 3: Hello Pete. He had a couple of things. I don't 165 00:10:22,639 --> 00:10:25,320 worry about what I've heard it say a few times 166 00:10:25,399 --> 00:10:30,279 that Trump and or Elon are for these tariffs to 167 00:10:30,480 --> 00:10:33,480 tank the market and buy back in real low and 168 00:10:33,519 --> 00:10:39,360 make a killing. I say that because, number one, I 169 00:10:39,399 --> 00:10:46,120 think Trump's he's more concerned about his legacy than making 170 00:10:46,200 --> 00:10:49,039 more money because he doesn't have them. You know, he 171 00:10:49,240 --> 00:10:52,279 has more than he'll ever spend to start with, and 172 00:10:52,480 --> 00:10:57,039 he wouldn't have risked a couple of assassinations tempts if 173 00:10:57,039 --> 00:10:58,879 he were just in it for the money. So I 174 00:10:59,279 --> 00:11:02,440 feel good about that part. And the other part is 175 00:11:03,080 --> 00:11:06,480 if the teriffs work and don't turn out the way 176 00:11:06,519 --> 00:11:10,639 you're saying they could, then everything will be probably great. 177 00:11:11,720 --> 00:11:16,000 And I think part of this strategy might be to 178 00:11:16,039 --> 00:11:19,919 get people to the negotiating table. But he's not going 179 00:11:19,960 --> 00:11:21,720 to come out and say that's the purpose of it. 180 00:11:21,720 --> 00:11:24,600 Of course, he's going to say it's not for negotiation. 181 00:11:25,559 --> 00:11:30,519 It's like a poker player playing poker, and you know 182 00:11:30,559 --> 00:11:33,240 your opponent across the room has figured out that when 183 00:11:33,240 --> 00:11:36,399 you've got a good hand, you twitch your left lip 184 00:11:36,519 --> 00:11:39,440 a certain way and you know he's thinking that, and 185 00:11:39,519 --> 00:11:43,639 then you when you get a good hand, you're aware 186 00:11:43,679 --> 00:11:46,759 of that and you don't twitch your left lip and 187 00:11:46,799 --> 00:11:49,679 make him make the wrong move by betting or calling. 188 00:11:50,399 --> 00:11:53,799 And so therefore I think he's playing more cards than 189 00:11:53,840 --> 00:11:57,360 I've heard people say that he's playing three dimensional chess. 190 00:11:57,600 --> 00:11:58,559 That's my big comments. 191 00:11:58,679 --> 00:12:00,279 Speaker 1: Okay, I appreciate the call. 192 00:12:00,679 --> 00:12:03,679 Speaker 2: And to Ray's point, I've never said that he's doing 193 00:12:03,720 --> 00:12:04,600 this to buy in them. 194 00:12:04,639 --> 00:12:05,399 Speaker 1: I've heard that too. 195 00:12:05,480 --> 00:12:08,480 Speaker 2: What the Ray's first point that you know, the left 196 00:12:08,600 --> 00:12:12,840 is out there saying that Trump and Musk are just 197 00:12:12,960 --> 00:12:15,799 doing this for, you know, to buy stocks low when 198 00:12:15,799 --> 00:12:16,720 they're cheaper and all that. 199 00:12:16,759 --> 00:12:20,039 Speaker 1: I don't believe that. Well I should. I have no evidence. 200 00:12:20,600 --> 00:12:22,200 I have no evidence that that's the case. 201 00:12:22,399 --> 00:12:25,679 Speaker 2: And as president, Trump doesn't control his portfolio, right, so 202 00:12:26,759 --> 00:12:28,279 I've seen no evidence for that. 203 00:12:30,519 --> 00:12:31,919 Speaker 1: And I think Ray is right. 204 00:12:31,960 --> 00:12:34,919 Speaker 2: I think Trump does care more about being known as 205 00:12:34,960 --> 00:12:37,039 the best president in American history. 206 00:12:37,720 --> 00:12:39,080 Speaker 1: He wants a legacy. 207 00:12:39,639 --> 00:12:42,960 Speaker 2: He is like we have stories like Bill O'Reilly told 208 00:12:43,039 --> 00:12:48,559 us that he met with Trump right before inauguration day 209 00:12:48,639 --> 00:12:50,919 and Trump asked O'Reilly, what do I need to do 210 00:12:51,000 --> 00:12:54,039 to be you know, one of the best presidents in history, 211 00:12:54,039 --> 00:12:57,720 and O'Reilly told him fulfill your campaign promises. So I 212 00:12:57,720 --> 00:13:02,120 think I think that is what is motivating Donald Trump. 213 00:13:02,320 --> 00:13:05,360 Now that being said, I think there's also this element 214 00:13:05,399 --> 00:13:09,720 that that people who have a high trust in Trump, 215 00:13:10,919 --> 00:13:13,000 then they are going to trust that what he is 216 00:13:13,080 --> 00:13:17,120 doing is part of a strategy and that he is 217 00:13:18,120 --> 00:13:20,600 adept at doing it right. 218 00:13:22,360 --> 00:13:24,399 Speaker 1: And that's fine. 219 00:13:24,679 --> 00:13:28,799 Speaker 2: I tend not to trust people in government, like I'm 220 00:13:28,840 --> 00:13:33,120 skeptical of their abilities to do this kind of stuff. 221 00:13:33,159 --> 00:13:36,759 And again I say it every single segment. It seems 222 00:13:36,799 --> 00:13:41,320 like I hope it all works because the alternative is 223 00:13:41,360 --> 00:13:47,279 going to be it could be pretty bad, Alan says Pete. 224 00:13:47,440 --> 00:13:49,919 The pain Because I was asking earlier how long is 225 00:13:49,919 --> 00:13:52,799 the short term pain? Nobody will tell us the pain 226 00:13:52,919 --> 00:13:55,879 was coming. Either way, whether we manage the pain or 227 00:13:55,919 --> 00:13:59,039 get hit with the pain that we pretended not to 228 00:13:59,080 --> 00:14:01,879 know was coming, might mean we are only in slightly 229 00:14:01,960 --> 00:14:03,120 less pain than we. 230 00:14:03,120 --> 00:14:03,639 Speaker 1: Could have been. 231 00:14:04,879 --> 00:14:09,080 Speaker 2: Did you follow that, remember China recalling the mask shipments 232 00:14:09,120 --> 00:14:14,080 during COVID. I do, yeah, and that it became very 233 00:14:14,840 --> 00:14:19,799 obvious during COVID how reliant we were on foreign nations. 234 00:14:20,320 --> 00:14:22,080 Speaker 1: Right, the global trade. 235 00:14:23,399 --> 00:14:28,000 Speaker 2: Model has serious risks, and not just for a pandemic, 236 00:14:28,039 --> 00:14:32,279 but if a country decides to shut off access right 237 00:14:32,320 --> 00:14:35,360 to these critical things that a country needs. And at 238 00:14:35,360 --> 00:14:39,759 the time, I was saying, yes, we should have critical 239 00:14:40,360 --> 00:14:45,639 production in America for things that you know, we do 240 00:14:45,720 --> 00:14:48,159 not want to rely on a foreign country to like 241 00:14:48,600 --> 00:14:52,200 make our AMMO for example, right because if we ever 242 00:14:52,639 --> 00:14:55,360 get sideways with that other country and now we have 243 00:14:55,399 --> 00:14:57,840 no AMMO, or we got to ramp up the production 244 00:14:58,000 --> 00:15:00,559 of ammunition, you know, and then you're scrambled to do that. 245 00:15:04,039 --> 00:15:07,039 Steve says it's a pete tweet. He says, the Democrats 246 00:15:07,039 --> 00:15:10,360 are mad, but wait until Trump's policies work. Democrats will 247 00:15:10,399 --> 00:15:16,320 then be absolutely livid. See that's the difference. If they work, 248 00:15:16,440 --> 00:15:21,159 I'm gonna be happy. I'm gonna be happy. If they 249 00:15:21,200 --> 00:15:24,159 don't work, Democrats will not be See there's the difference. 250 00:15:27,759 --> 00:15:29,519 Tyler says, one hundred percent agree with you on the 251 00:15:29,519 --> 00:15:32,720 tariff's issue. Let me go back to I mention this 252 00:15:32,759 --> 00:15:37,279 guy Dakota who wrote this book China after Mao, The 253 00:15:37,399 --> 00:15:42,240 Rise of a Superpower, and he contends that far from 254 00:15:42,240 --> 00:15:46,960 being a true superpower, China remains fundamentally fragile an empire 255 00:15:47,440 --> 00:15:52,559 held together by repression, propaganda, and paranoia. Despite its gleaming 256 00:15:52,639 --> 00:15:58,440 cities and impressive seeming economic statistics often cited by the West, 257 00:15:58,919 --> 00:16:02,840 Dakota asserts that much of China's so called growth has 258 00:16:02,879 --> 00:16:06,000 been built on the backs of an impoverished population, often 259 00:16:06,080 --> 00:16:10,679 without their consent or benefit. He also explains how inflated numbers, 260 00:16:11,080 --> 00:16:18,200 hollowed out institutions, and internal contradictions undermine China's long term strength. 261 00:16:18,720 --> 00:16:22,399 In his view, the Chinese Communist Party has not lifted 262 00:16:22,480 --> 00:16:24,919 hundreds of millions of people out of poverty. It has 263 00:16:24,960 --> 00:16:28,799 merely stepped aside as ordinary people began reclaiming their autonomy 264 00:16:28,799 --> 00:16:31,200 after decades of devastation under Mao. 265 00:16:31,879 --> 00:16:32,039 Speaker 3: Right. 266 00:16:32,080 --> 00:16:37,080 Speaker 2: So they're projecting power, they're projecting modernity, but they are 267 00:16:37,120 --> 00:16:45,000 not powerful. They are not modern, Dakota believes, or sorry. 268 00:16:45,039 --> 00:16:49,799 He delves into how the Communist Party's fear of its 269 00:16:49,840 --> 00:16:55,120 own citizens, its fear of capitalism, its fear of peaceful evolution, 270 00:16:55,679 --> 00:17:00,320 has driven decisions for decades. He draws parallels with the 271 00:17:00,320 --> 00:17:04,880 Soviet Union and says that just like the USSR, China's 272 00:17:04,920 --> 00:17:10,359 power is brittle beneath the surface. Xixenping, who is relative 273 00:17:10,359 --> 00:17:13,680 I believe of Winnie the Pooh argues is not a 274 00:17:13,680 --> 00:17:16,599 break from tradition, but a continuation of the party's long 275 00:17:16,640 --> 00:17:21,279 standing obsession with control. I was watching an interview this 276 00:17:21,359 --> 00:17:24,039 morning with this guy who was a senior fellow at 277 00:17:24,039 --> 00:17:27,359 the Hoover Institution, and he had lived in Hong Kong. 278 00:17:27,680 --> 00:17:29,640 Just got back from Hong Kong. He was there for 279 00:17:29,680 --> 00:17:32,880 like twenty years, wrote this book, and he says that 280 00:17:33,640 --> 00:17:37,519 in China, the state is rich, but the people are poor. 281 00:17:38,200 --> 00:17:41,400 The people of China have the lowest share of GDP 282 00:17:41,799 --> 00:17:47,519 in the modern world, right. And I remember when the 283 00:17:47,519 --> 00:17:51,759 Soviet Union fell, it was it caught the West by 284 00:17:51,839 --> 00:17:56,359 total surprise. I think, like months prior or something, the 285 00:17:56,440 --> 00:18:00,920 CIA had put had done some ass essment and said that, 286 00:18:01,039 --> 00:18:04,240 you know, the Soviets were strong and things were going 287 00:18:04,319 --> 00:18:06,680 really well for them, and you know they're going to 288 00:18:06,720 --> 00:18:10,319 be around for decades to come. And then you know, 289 00:18:10,359 --> 00:18:13,400 like the next day the wall comes down, right. Well, 290 00:18:13,440 --> 00:18:15,279 I mean it wasn't that, but it was. It was 291 00:18:15,440 --> 00:18:19,079 very quick, very soon after the CIA assessment, and then 292 00:18:19,559 --> 00:18:21,960 you know, Gorbachrov has to leave on the plane. Boris 293 00:18:22,039 --> 00:18:24,680 Yeltsen goes in there, he's drinking and dancing, and you 294 00:18:24,720 --> 00:18:27,079 know whatever historical record is clear on all of that. 295 00:18:27,279 --> 00:18:31,759 But I'm not so sure that China is as strong 296 00:18:31,839 --> 00:18:34,440 as well. No, I do not believe that China is 297 00:18:34,480 --> 00:18:36,400 as strong as it wants us to think it is. 298 00:18:37,079 --> 00:18:39,599 All right, So spring is here a time of renewal 299 00:18:39,720 --> 00:18:44,240 and celebrations. You've got graduations, weddings, anniversaries and the special 300 00:18:44,279 --> 00:18:46,799 days for mom and dad. Your family's making memories that 301 00:18:46,839 --> 00:18:48,960 are going to last a lifetime. But let me ask you, 302 00:18:49,279 --> 00:18:52,359 are all of those treasured moments from days gone by? 303 00:18:52,599 --> 00:18:56,079 Are they hidden away on old VCR tapes, eight millimeter films, 304 00:18:56,240 --> 00:19:00,599 photos slides? Are they preserved? Because over time, these precious 305 00:19:00,599 --> 00:19:04,759 memories can fade and deteriorate, losing the magic of yesterday. 306 00:19:04,960 --> 00:19:08,119 At Creative Video, they help you protect what matters most. 307 00:19:08,279 --> 00:19:12,200 Their expert team digitizes your cherished family moments and transfers 308 00:19:12,240 --> 00:19:15,039 them onto a USB drive, freezing them in time so 309 00:19:15,079 --> 00:19:18,119 they can be enjoyed for generations to come. I urge 310 00:19:18,119 --> 00:19:21,279 you do not wait until it's too late this spring. 311 00:19:21,519 --> 00:19:24,880 Celebrate your past. Visit Creative Video today and let them 312 00:19:24,880 --> 00:19:28,279 preserve your legacy with the love and care that it deserves. 313 00:19:28,559 --> 00:19:32,920 Creative video preserving family memories since nineteen ninety seven. Located 314 00:19:32,920 --> 00:19:35,559 in mint Hill, just off four eighty five. Mail orders 315 00:19:35,599 --> 00:19:38,519 are accepted to get all the details that create a 316 00:19:38,680 --> 00:19:46,000 video dot com Oo. Okay, deep breaths, deep breaths. Actually, 317 00:19:46,039 --> 00:19:48,079 let's go over to the phones. We'll take another call here. 318 00:19:48,160 --> 00:19:48,799 This is Danny. 319 00:19:48,799 --> 00:19:51,480 Speaker 4: Hello, Danny, Hey, Pete, Hey Friday. 320 00:19:51,599 --> 00:19:52,319 Speaker 1: Yes, sir, you too. 321 00:19:53,960 --> 00:19:57,759 Speaker 4: You know, Pete, I'm like you, and that many of 322 00:19:57,759 --> 00:20:01,599 my opinions are formed by some type of evidence based 323 00:20:01,880 --> 00:20:03,119 information or data. 324 00:20:03,359 --> 00:20:06,119 Speaker 1: That's so, that's so old school, Danny. 325 00:20:08,000 --> 00:20:12,519 Speaker 4: It is. And you know, we've created such an immediate 326 00:20:12,720 --> 00:20:17,119 satisfaction society that like, we want to know the answers now. 327 00:20:17,319 --> 00:20:21,559 And the reality is these terraces and let's take a 328 00:20:21,559 --> 00:20:24,559 step back. Our economy in the United States as well 329 00:20:24,559 --> 00:20:28,960 as the world's economy, is that fabric is sown by 330 00:20:29,200 --> 00:20:32,720 so many threads that we could spend eight hours a 331 00:20:32,799 --> 00:20:35,160 day for the next month talking about it and still 332 00:20:35,200 --> 00:20:38,359 people not have a full grasp on you know, what 333 00:20:38,799 --> 00:20:42,960 this all means and how this all works. The one 334 00:20:42,960 --> 00:20:46,240 thing we do know, though it's evidence based, is our 335 00:20:46,359 --> 00:20:50,960 decline in our country for years now. Some may say 336 00:20:51,000 --> 00:20:54,160 that's purposeful. You look at the smaller towns and I 337 00:20:54,200 --> 00:20:57,440 call them M and M towns. It's meth and medicaid 338 00:20:58,079 --> 00:21:01,680 because the factories have left, the streets left, the businesses left, 339 00:21:02,000 --> 00:21:05,160 and these small towns that's sad. It's very very sad 340 00:21:05,200 --> 00:21:10,279 to see what's left. And we've created dependence on government 341 00:21:10,640 --> 00:21:14,160 in these small towns. And so when you start to 342 00:21:14,200 --> 00:21:16,519 talk about well, how do we change that, how do 343 00:21:16,599 --> 00:21:20,160 we turn that? Well, it took fifty sixty years for 344 00:21:20,279 --> 00:21:22,799 us to get here, and you know it's going to 345 00:21:22,839 --> 00:21:25,599 take quite a while, I think, to turn that around. 346 00:21:25,640 --> 00:21:28,440 But some of the evidence, too, is that Trump's been 347 00:21:28,480 --> 00:21:30,759 talking about this. You look at his old clips from 348 00:21:30,799 --> 00:21:34,079 Oprah and way back when He's been talking about some 349 00:21:34,200 --> 00:21:38,960 of these things for a long time. And what most 350 00:21:38,960 --> 00:21:43,079 politicians can't do is what they promise and what they 351 00:21:43,160 --> 00:21:47,759 talk about because the instant gratification of our society. Look 352 00:21:47,799 --> 00:21:51,160 at how the Democrats now are just demonizing everything and 353 00:21:51,160 --> 00:21:54,200 putting everything into panic in wall streets. All this is 354 00:21:54,240 --> 00:21:57,720 fear selling and panic when there's no evidence that anything's 355 00:21:57,720 --> 00:21:58,279 happened yet. 356 00:21:58,359 --> 00:22:00,319 Speaker 3: He just an housteak but. 357 00:22:00,359 --> 00:22:02,720 Speaker 2: No, but they're taking effect, like some of these are 358 00:22:02,720 --> 00:22:05,960 taking effect tomorrow, so Wall Street and yeah, and the 359 00:22:06,640 --> 00:22:10,079 Wall Street traders are trying to trade based on predictions 360 00:22:10,160 --> 00:22:12,519 of what's going to happen. So that's by its very 361 00:22:12,599 --> 00:22:16,160 nature going to get rattled when they don't know if 362 00:22:16,240 --> 00:22:18,559 the proposal is. 363 00:22:18,480 --> 00:22:19,279 Speaker 1: In fact real. 364 00:22:19,400 --> 00:22:21,920 Speaker 2: That's part of the problem, right, they have there's uncertainty, 365 00:22:21,920 --> 00:22:25,200 and that creates problems for people that are trying to, 366 00:22:25,400 --> 00:22:26,319 you know, buy stocks. 367 00:22:27,000 --> 00:22:30,799 Speaker 4: But the uncertainty is is fact of the immediate gratification, 368 00:22:31,160 --> 00:22:35,359 Like they could do really good and not do bad. 369 00:22:36,039 --> 00:22:38,960 We don't know that yet, So all this is over fear, 370 00:22:39,400 --> 00:22:42,359 fear of the unknown. It's a democratic playbook. For years, 371 00:22:42,359 --> 00:22:45,119 it's been well, we better not do that because it m. 372 00:22:46,240 --> 00:22:46,599 Speaker 3: X y Z. 373 00:22:47,039 --> 00:22:47,200 Speaker 1: Well. 374 00:22:47,240 --> 00:22:49,559 Speaker 2: I would submit Danny that anytime you are looking at 375 00:22:49,599 --> 00:22:53,559 any kind of a policy, it's incumbent upon you to 376 00:22:53,720 --> 00:22:56,640 look at the potential consequences, good and bad. 377 00:22:57,440 --> 00:23:00,759 Speaker 4: Yeah, And I think there's possibly the big problem with 378 00:23:00,839 --> 00:23:06,079 what Trump's doing is has been his messaging over what 379 00:23:06,279 --> 00:23:10,960 the results. He's the clarity around what these things all mean, 380 00:23:11,160 --> 00:23:14,680 because on one hand, he could talk about that, but 381 00:23:14,720 --> 00:23:18,359 then he loses leverage in his negotiation. On the other hand, 382 00:23:18,440 --> 00:23:21,599 he leads it a secret to up the leverage in 383 00:23:21,680 --> 00:23:24,960 the negotiation. But the downside to that is the unknown 384 00:23:25,000 --> 00:23:27,440 by the people and the knee jerk reactions and the panic. 385 00:23:28,000 --> 00:23:29,759 And then all of a sudden, the media is against him, 386 00:23:29,759 --> 00:23:32,039 which they had always been against him, But then you 387 00:23:32,240 --> 00:23:36,680 have this sentiment that then overrides anything he could be doing, 388 00:23:36,839 --> 00:23:41,960 and to the point where now even Republican politicians are 389 00:23:42,000 --> 00:23:44,680 lining up to go against him because of that panic 390 00:23:44,720 --> 00:23:45,279 in that fear. 391 00:23:45,440 --> 00:23:47,519 Speaker 2: Yeah, he's got a very short he's got a very 392 00:23:47,599 --> 00:23:52,920 short window, a small window to realize whatever benefits that 393 00:23:53,400 --> 00:23:57,839 he's trying to extract, assuming that the tariffs are a tool, 394 00:23:57,920 --> 00:24:01,680 which I'm not certain that that's the case. His comments 395 00:24:01,680 --> 00:24:04,440 and what I have heard from people who have talked 396 00:24:04,480 --> 00:24:07,839 with him about it, is that he believes that tariffs 397 00:24:08,000 --> 00:24:10,200 are the end in and of themselves. 398 00:24:10,400 --> 00:24:12,000 Speaker 1: He just he likes tariffs. 399 00:24:12,759 --> 00:24:17,160 Speaker 4: Well, but is that messaging because of his leverage in 400 00:24:17,240 --> 00:24:19,400 that negotiating power of. 401 00:24:19,319 --> 00:24:22,200 Speaker 2: That No, this is what he has believed. Going back, 402 00:24:22,240 --> 00:24:25,559 He thinks that he looks at the trade deficit as 403 00:24:25,839 --> 00:24:30,599 US getting cheated. And it's a very simplistic way of 404 00:24:30,640 --> 00:24:34,640 looking at a trade deficit, because it's not getting cheated. 405 00:24:34,799 --> 00:24:37,960 Speaker 1: Yeah, and as you said, right, because. 406 00:24:37,720 --> 00:24:39,640 Speaker 2: There are so many facts, right, there are so many 407 00:24:39,680 --> 00:24:42,440 factors involved that looking at it as like some loss 408 00:24:42,519 --> 00:24:45,559 versus gain, it's like, that's not what this indicates. 409 00:24:45,960 --> 00:24:48,440 Speaker 4: Well, and again it goes back to the complexity of 410 00:24:48,480 --> 00:24:51,039 it all and that you know, and then you look 411 00:24:51,039 --> 00:24:53,920 at that again the google back to it didn't get 412 00:24:54,200 --> 00:24:57,200 We didn't get this way overnight, right, This took a 413 00:24:57,240 --> 00:25:00,279 long time. So what makes anybody think that it's going 414 00:25:00,319 --> 00:25:02,599 to be overnight that we get out of this or 415 00:25:02,640 --> 00:25:05,000 that these tariffs are going to work overnight? Because that's 416 00:25:05,000 --> 00:25:07,599 what Wall Street would love to have, is an answer 417 00:25:07,640 --> 00:25:10,160 that says this is what's going to happen, and this 418 00:25:10,200 --> 00:25:12,559 is what it's going to be tomorrow, right, and the 419 00:25:12,599 --> 00:25:16,200 market would go crazy and everything's beautiful in rainbows and butterflies. 420 00:25:16,240 --> 00:25:18,640 But the reality is it's going to take a while 421 00:25:19,119 --> 00:25:20,720 and there's probably going to be some pain. It's like 422 00:25:20,759 --> 00:25:21,759 cripping off the band aid. 423 00:25:21,839 --> 00:25:22,400 Speaker 1: Oh there's all. 424 00:25:22,599 --> 00:25:24,680 Speaker 2: Yeah, they have said, they've promised that there's going to 425 00:25:24,680 --> 00:25:26,839 be pain. They say it's short term and then it's 426 00:25:26,839 --> 00:25:29,319 going to go great. But that's why I keep asking, like, 427 00:25:29,359 --> 00:25:30,960 how long is this short term. 428 00:25:31,039 --> 00:25:32,319 Speaker 1: So, but I don't know. 429 00:25:32,359 --> 00:25:35,599 Speaker 4: Nobody to know if you're asking an immediate gratification society 430 00:25:35,680 --> 00:25:36,200 that question. 431 00:25:36,319 --> 00:25:41,759 Speaker 2: Two mm, yeah, we think in quarters. China thinks in decades. 432 00:25:41,960 --> 00:25:44,440 So Danny, yeah, yeah, I appreciate the call, sir, have 433 00:25:44,480 --> 00:25:45,000 a great weekend. 434 00:25:45,079 --> 00:25:45,319 Speaker 4: Thank you. 435 00:25:45,400 --> 00:25:45,920 Speaker 1: H Right, buddy. 436 00:25:46,240 --> 00:25:50,200 Speaker 2: To Danny's point about the messaging, and again, if the 437 00:25:50,240 --> 00:25:54,079 messaging is designed to be chaotic in order to give 438 00:25:54,440 --> 00:25:58,119 the White House the most leverage, mission accomplished right there are. 439 00:25:58,200 --> 00:26:02,160 This is Megan McCardell, writing at The Washington Post. She said, 440 00:26:02,200 --> 00:26:06,079 there are four broad arguments that have been used to 441 00:26:06,480 --> 00:26:10,960 justify the tariff regime. All right, if you're listening to 442 00:26:11,000 --> 00:26:12,519 this show, you know I try to keep up with 443 00:26:12,519 --> 00:26:14,680 all sorts of current events, and I know you do too, 444 00:26:14,839 --> 00:26:17,279 And you've probably heard me say get your news from 445 00:26:17,440 --> 00:26:22,000 multiple sources. Why Well, because it's how you detect media bias, 446 00:26:22,039 --> 00:26:24,599 which is why I've been so impressed with Ground News. 447 00:26:25,000 --> 00:26:28,359 It's an app and it's a website, and it combines 448 00:26:28,480 --> 00:26:30,480 news from around the world in one place, so you 449 00:26:30,519 --> 00:26:33,920 can compare coverage and verify information. You can check it 450 00:26:33,920 --> 00:26:38,480 out at check dot ground dot news slash pete I 451 00:26:38,519 --> 00:26:41,400 put the link in the podcast description too. I started 452 00:26:41,480 --> 00:26:44,160 using ground News a few months ago and more recently 453 00:26:44,359 --> 00:26:46,359 chose to work with them as an affiliate because it 454 00:26:46,440 --> 00:26:50,240 lets me see clearly how stories get covered and by whom. 455 00:26:50,519 --> 00:26:53,480 The blind spot feature shows you which stories get ignored 456 00:26:53,519 --> 00:26:56,440 by the left and the right. See for yourself. Check 457 00:26:56,559 --> 00:27:01,000 dot ground, dot news slash pete describe through that link 458 00:27:01,079 --> 00:27:03,960 and you'll get fifteen percent off any subscription. I use 459 00:27:04,000 --> 00:27:07,119 the vantage plan to get unlimited access to every feature. 460 00:27:07,319 --> 00:27:10,079 Your subscription then not only helps my podcast, but it 461 00:27:10,119 --> 00:27:13,279 also supports ground News as they make the media landscape 462 00:27:13,319 --> 00:27:14,200 more transparent. 463 00:27:15,119 --> 00:27:16,279 Speaker 1: Four broad arguments. 464 00:27:16,319 --> 00:27:19,400 Speaker 2: One idea is that these are a negotiating tool to 465 00:27:19,480 --> 00:27:23,160 force other countries to lower their trade barriers, not just tariffs, 466 00:27:23,160 --> 00:27:28,759 but other barriers. Another is they will restore our manufacturing 467 00:27:28,759 --> 00:27:32,319 base and turn us into a superpower exporter of goods, 468 00:27:32,559 --> 00:27:36,559 not services. Third explanation is that we're trying to halt 469 00:27:36,640 --> 00:27:42,359 China's rise to a geostrategic as a geostrategic rival. And 470 00:27:42,400 --> 00:27:46,799 the fourth is that we need to rebuild our manufacturing 471 00:27:46,839 --> 00:27:50,480 capacity for vital goods like semiconductors in case of another 472 00:27:50,480 --> 00:27:53,960 pandemic or war. Okay, like these are the four broad 473 00:27:54,079 --> 00:27:58,480 arguments that Trump and his supporters have offered to justify 474 00:27:58,480 --> 00:28:02,920 the tariffs problems With these, though, I'll circle back the 475 00:28:03,000 --> 00:28:04,839 Sacki style to that. First, let me go over to 476 00:28:04,880 --> 00:28:08,519 phones talk with Sam. Hello Sam, welcome to the program. 477 00:28:08,680 --> 00:28:09,759 Speaker 5: Hello Pete. How are you. 478 00:28:10,000 --> 00:28:11,440 Speaker 1: I'm good, I'm good. What's going on? 479 00:28:11,599 --> 00:28:14,240 Speaker 5: Thank you? Thank you so much for taking my call. 480 00:28:14,960 --> 00:28:16,920 And disagree, but I'm going to agree with a couple 481 00:28:16,920 --> 00:28:19,240 of great things that you said and your caller said. 482 00:28:19,839 --> 00:28:22,039 One the recent that the last caller said that this 483 00:28:22,279 --> 00:28:25,200 the analysis of these tariffs need to be evidence based. 484 00:28:26,079 --> 00:28:28,400 And then the second thing, the second thing you said, 485 00:28:28,400 --> 00:28:31,519 which is really powerful, you said that you weren't certain 486 00:28:31,559 --> 00:28:34,759 whether this was an employee to negotiate or that Trump 487 00:28:34,799 --> 00:28:38,119 really believes in tariffs, right, And I think that's that's 488 00:28:38,279 --> 00:28:43,240 very astute. What I both fear and i'm hopeful for 489 00:28:43,599 --> 00:28:46,359 is that he believes in tariffs. These are going to 490 00:28:46,440 --> 00:28:49,519 stick and it's going to be the biggest failure in 491 00:28:50,359 --> 00:28:54,839 presidential fifty year history. And I think he does. I 492 00:28:54,880 --> 00:28:58,480 think he does. And I'll make two points about why 493 00:28:58,559 --> 00:29:00,759 tariffs on it aren't effective in I haven't heard this 494 00:29:00,880 --> 00:29:05,640 in your grease and calls. It's impossible to disagree with 495 00:29:05,720 --> 00:29:10,440 the fact that tariffs are inflationary. A quick example, I 496 00:29:10,519 --> 00:29:13,920 read an interview this morning of a boot maker, one 497 00:29:13,960 --> 00:29:17,359 of the largest boot makers and sellers in the United States. 498 00:29:17,960 --> 00:29:20,680 He says, the best boots are made in the United States. 499 00:29:20,799 --> 00:29:24,960 I sell them, my clients love them, but they're really expensive. 500 00:29:25,519 --> 00:29:29,759 I sell most of my product imported from China. Those 501 00:29:29,799 --> 00:29:33,359 boots are much less expensive and their high quality, and 502 00:29:33,400 --> 00:29:35,799 now they're going to be more expensive to the consumer 503 00:29:35,880 --> 00:29:38,880 because I'm passing off that cost entirely to the consumer. 504 00:29:39,480 --> 00:29:44,200 We can't make boots as inexpensively as China does. So 505 00:29:44,240 --> 00:29:47,960 why are we trying to, through tariffs, push our industry 506 00:29:48,039 --> 00:29:51,440 to do what it cannot do because the cost of 507 00:29:51,519 --> 00:29:54,119 goods is too high, because the cost of labor is 508 00:29:54,160 --> 00:29:57,519 too high, we don't have employees that will work for 509 00:29:57,599 --> 00:30:01,599 wages that they will work for in in Vietnam. 510 00:30:01,799 --> 00:30:04,480 Speaker 2: Right, well, so, okay, so the right So the counter 511 00:30:04,599 --> 00:30:10,440 on that is that that we should impose a tariff 512 00:30:10,480 --> 00:30:16,119 that is comparable or or would offset the labor costs 513 00:30:16,200 --> 00:30:19,799 that China enjoys because of its you know, child labor 514 00:30:19,799 --> 00:30:20,759 and slave labor. 515 00:30:23,920 --> 00:30:26,720 Speaker 5: Right, But but then you end up with simply a 516 00:30:26,799 --> 00:30:30,079 product made in the United States that's much more expensive 517 00:30:30,119 --> 00:30:31,480 to the United States buyers. 518 00:30:31,759 --> 00:30:31,920 Speaker 1: Right. 519 00:30:31,960 --> 00:30:35,240 Speaker 2: That's been my right, That's and that is the generally 520 00:30:35,319 --> 00:30:39,680 accepted wisdom of economists going back a century, which is 521 00:30:39,720 --> 00:30:42,440 that when you put tariffs on products, they raise the 522 00:30:42,480 --> 00:30:44,240 cost to the domestic consumer. 523 00:30:45,880 --> 00:30:47,880 Speaker 5: And this is why I keep listening to you, even 524 00:30:47,920 --> 00:30:49,920 though I'm progressive. We agreed on something. 525 00:30:50,160 --> 00:30:52,400 Speaker 2: Oh, that's why you Oh, that's why you were hopeful 526 00:30:52,400 --> 00:30:55,440 that they that you wanted the tariffs to stick, and 527 00:30:55,480 --> 00:30:56,400 then Trump fails. 528 00:30:57,759 --> 00:30:59,880 Speaker 5: Yeah, I got to hook out one more all right, 529 00:31:00,200 --> 00:31:01,720 one more thing, one more thing. 530 00:31:01,640 --> 00:31:02,000 Speaker 1: All right. 531 00:31:02,400 --> 00:31:05,920 Speaker 5: I think I think a key to the success of 532 00:31:06,000 --> 00:31:09,440 this tariff effort is the one that he has imposed 533 00:31:09,480 --> 00:31:14,599 on the Herd and McDonald Islands in Australia. He imposed 534 00:31:14,599 --> 00:31:17,880 of tariff yesterday on the Herd and McDonald Islands, which 535 00:31:17,920 --> 00:31:23,240 are uninhabited. The only thing that exists there are penguins. 536 00:31:23,559 --> 00:31:24,519 Speaker 1: Yes, this has been. 537 00:31:26,079 --> 00:31:30,000 Speaker 2: I will say that that tariff has actually prompted an 538 00:31:30,079 --> 00:31:35,480 increase in production, an increase in production of hilarious means. 539 00:31:36,119 --> 00:31:38,279 Speaker 1: That's that is what it is done. 540 00:31:39,319 --> 00:31:43,279 Speaker 5: But it's it's evidence of incompetence, which is another reason 541 00:31:43,319 --> 00:31:46,359 that I fear. I don't fear the Trump administration is 542 00:31:46,400 --> 00:31:50,319 going to fail because that's incompetent, that's a complete fumble. 543 00:31:50,519 --> 00:31:52,119 Speaker 2: And so this is one of the things I've heard 544 00:31:52,119 --> 00:31:56,359 people's advising Democrats to do, is to like cut back 545 00:31:56,440 --> 00:32:00,599 on all of the cussin and the the tricks and 546 00:32:00,640 --> 00:32:04,000 the performances and the marches and all this. Just let 547 00:32:04,240 --> 00:32:06,960 Trump do what he's going to do, and eventually he'll 548 00:32:06,960 --> 00:32:09,359 do something and Democrats will be able to benefit from it. 549 00:32:09,680 --> 00:32:11,640 And all of this stuff so far has not been 550 00:32:11,680 --> 00:32:14,480 stuff that they're benefiting from, but this might be. 551 00:32:17,119 --> 00:32:19,839 Speaker 4: Yes, sir, do you agree with that what you do? 552 00:32:20,039 --> 00:32:22,480 Speaker 1: Yeah? Yeah? Do you agree with that advice? Yeah? Do 553 00:32:22,519 --> 00:32:24,960 you agree with that advice that does? No? 554 00:32:25,000 --> 00:32:29,279 Speaker 5: I don't I need to. I believe that you need 555 00:32:29,319 --> 00:32:32,680 to resist in every way possible. I don't believe you 556 00:32:32,720 --> 00:32:34,400 do it with violence. I believe it you do it 557 00:32:34,440 --> 00:32:38,039 with speech. I believe you write your congressman. I believe 558 00:32:38,079 --> 00:32:40,759 you protest. I believe you point out the errors that 559 00:32:40,799 --> 00:32:44,079 are being made. You keep fighting the good fight and 560 00:32:44,160 --> 00:32:45,839 see what will happen. And we got to wait a 561 00:32:45,880 --> 00:32:48,400 long time before there's another election. But I think that 562 00:32:49,279 --> 00:32:52,720 I think that eventually he will shoot himself, not in 563 00:32:52,799 --> 00:32:54,000 the foot, but in the head. 564 00:32:54,440 --> 00:32:56,880 Speaker 2: So now I will tell you if you end up 565 00:32:56,920 --> 00:32:59,960 being wrong and I and Trump is right, and I'm 566 00:33:00,119 --> 00:33:03,759 you know I'm wrong, you guys are in some serious 567 00:33:03,799 --> 00:33:07,559 trouble because if he actually does pull this off, I 568 00:33:07,599 --> 00:33:11,559 don't know if you guys are gonna sniff the presidency 569 00:33:11,680 --> 00:33:12,759 for a long time. 570 00:33:13,480 --> 00:33:18,200 Speaker 5: Well, well, the market is going down because of the 571 00:33:18,279 --> 00:33:23,119 anticipated inflation, right the market. That's that's why the market's 572 00:33:23,160 --> 00:33:26,640 going down. And and that's it's gonna keep going down 573 00:33:26,720 --> 00:33:29,000 as long as these tearfs remain in place. And eventually 574 00:33:29,039 --> 00:33:32,400 Trump is gonna go back to his narcissism and say, 575 00:33:33,000 --> 00:33:36,319 people don't like me. Therefore I'm gonna change my approach 576 00:33:36,400 --> 00:33:39,480 because ultimately what gets to Donald Trump is when people 577 00:33:39,519 --> 00:33:44,599 don't like him, people that matter, rich people don't like this. Yeah, 578 00:33:44,640 --> 00:33:46,359 they're gonna, They're gonna it's eventually. 579 00:33:46,079 --> 00:33:47,319 Speaker 1: I would right. 580 00:33:47,400 --> 00:33:49,599 Speaker 2: So here's here's the only thing that I would uh, 581 00:33:49,839 --> 00:33:52,319 I would caution you on. And it's a very common 582 00:33:52,319 --> 00:33:56,000 thing happens on the right and the left, don't it. Well, 583 00:33:56,160 --> 00:34:02,480 try to avoid making your warming opinions about things based 584 00:34:02,480 --> 00:34:06,200 solely on Donald Trump and your belief in what he thinks, 585 00:34:06,200 --> 00:34:10,840 because that that sort of prism that you're looking through, 586 00:34:11,320 --> 00:34:14,719 it can distort reality for you. 587 00:34:16,360 --> 00:34:16,760 Speaker 3: Oh yeah. 588 00:34:16,960 --> 00:34:20,159 Speaker 5: The best advice that an investor can be received today 589 00:34:20,760 --> 00:34:23,320 is that don't predict the future of the stock markets 590 00:34:23,320 --> 00:34:26,199 based on what Donald Trump will do, because no one 591 00:34:26,480 --> 00:34:28,239 bleeping nos that's possible. 592 00:34:28,239 --> 00:34:29,840 Speaker 2: All right, Sam, I appreciate the call, sir, have a 593 00:34:29,840 --> 00:34:35,000 great weekend. All right, buddy, thank you. It's interesting. We'll 594 00:34:35,039 --> 00:34:37,559 go get David here too. Hello David, Welcome. 595 00:34:37,239 --> 00:34:37,679 Speaker 1: To the show. 596 00:34:38,440 --> 00:34:41,639 Speaker 6: Hello Pete. First of all, great show. Afforded the first 597 00:34:41,679 --> 00:34:44,880 hour of your podcast yesterday to multiple people, and I 598 00:34:44,960 --> 00:34:47,159 thought it was great, and well thanks, agree with you 599 00:34:47,199 --> 00:34:49,119 pretty much one hundred percent. But I'm going to give 600 00:34:49,119 --> 00:34:51,360 you some different takes because it would be boring if 601 00:34:51,360 --> 00:34:56,360 I just repeated what you said. I'm a lifelong libertarian 602 00:34:56,480 --> 00:34:59,679 leaning Republican. I've never voted for a Democrat. So when 603 00:34:59,679 --> 00:35:03,039 i'm this tariff and Donald Trump, a lot of listeners 604 00:35:03,079 --> 00:35:04,840 are gonna hate it, a lot of the Trump fans 605 00:35:04,880 --> 00:35:07,639 and they're going to think, oh, seminar call er, he's 606 00:35:07,679 --> 00:35:09,880 a Democrat. He's a Joe Biden fan. None of that 607 00:35:10,000 --> 00:35:12,719 is true. But there's three points. The first one is 608 00:35:12,800 --> 00:35:14,840 check out. I'm going to tell everyone check out the 609 00:35:14,880 --> 00:35:18,760 op ed ped in Today's Wall Street Journal. President Trump 610 00:35:18,760 --> 00:35:22,159 does not have the authority to unilaterally do that do 611 00:35:22,239 --> 00:35:26,800 what he's doing, except for his emergency declaration, which is basically, 612 00:35:27,559 --> 00:35:30,800 we would all not want the next person who replaces 613 00:35:30,840 --> 00:35:33,239 him to govern like this, So when it's a Democrat, 614 00:35:33,280 --> 00:35:35,880 we're going to hate when someone does this. The second 615 00:35:35,960 --> 00:35:38,920 thing is I can't assume, and I agree with you, 616 00:35:38,960 --> 00:35:41,440 that people who trust Trump already to assume that he 617 00:35:41,480 --> 00:35:43,679 has some kind of grant he's like a grand master 618 00:35:43,840 --> 00:35:45,800 chess player, and that he's got he knows every move 619 00:35:46,559 --> 00:35:48,960 from right now till the end, and knows what checkmate 620 00:35:49,079 --> 00:35:50,840 is going to look like. I don't believe any of 621 00:35:50,880 --> 00:35:53,559 that because his words are so different every time he 622 00:35:53,639 --> 00:35:56,320 talks about it, and he's so thickle, he changes all 623 00:35:56,360 --> 00:35:59,320 the time. And the third thing is tariffs, like a 624 00:35:59,320 --> 00:36:03,880 lot of things he's are not conservative, and so they've 625 00:36:03,960 --> 00:36:07,880 never been conservative. And I tell a Republican conservatives and 626 00:36:07,920 --> 00:36:11,239 Trump fans this all the time. He's really not that conservative, right, 627 00:36:11,639 --> 00:36:14,559 And so when it failed. Don't blame conservatism on this. 628 00:36:15,000 --> 00:36:17,360 And I was listening to Milton Friedman and Thomas Soul 629 00:36:17,480 --> 00:36:20,480 and Hiak and all of them has never been a 630 00:36:20,519 --> 00:36:23,480 conservative policies to do what we're doing now, So I 631 00:36:23,559 --> 00:36:25,679 totally oppose what we're doing. I think you made a 632 00:36:25,719 --> 00:36:29,719 great point about Honduras bananas yesterday. Why impose a tax 633 00:36:29,760 --> 00:36:32,440 on the country that really can't buy from us? So anyway, 634 00:36:32,480 --> 00:36:33,239 great show. 635 00:36:33,000 --> 00:36:33,599 Speaker 1: Thanks David. 636 00:36:33,639 --> 00:36:35,599 Speaker 6: That's my take, Yes, sir, Yeah. 637 00:36:35,480 --> 00:36:38,840 Speaker 2: I appreciate it very well, said succinctly, more importantly because 638 00:36:38,880 --> 00:36:42,800 I'm up against the end of the hour break. All right, 639 00:36:42,840 --> 00:36:45,199 that'll do it for this episode. Thank you so much 640 00:36:45,239 --> 00:36:47,280 for listening. I could not do the show without your 641 00:36:47,320 --> 00:36:50,079 support and the support of the businesses that advertise on 642 00:36:50,119 --> 00:36:52,920 the podcast, so if you'd like, please support them too 643 00:36:52,960 --> 00:36:54,639 and tell them you heard it here. You can also 644 00:36:54,679 --> 00:36:57,239 become a patron at my Patreon page or go to 645 00:36:57,400 --> 00:37:01,079 dpkalnershow dot com. Again, thank you so much for listening, 646 00:37:01,199 --> 00:37:07,079 and don't break anything while I'm gone.