1 00:00:22,879 --> 00:00:26,519 Speaker 1: And hello, welcome to the Big Ready, The Big Ready, 2 00:00:26,719 --> 00:00:31,079 The Big Podcast, Old Habits, Die Hard, The Big Podcast 3 00:00:31,120 --> 00:00:34,119 on this Thursday. Today's the fourteenth day of August, Year 4 00:00:34,200 --> 00:00:38,479 of Our Lord, twenty twenty five. My name is Tom Sullivan. 5 00:00:38,640 --> 00:00:41,799 And yeah, we've got well, well, let's start with what 6 00:00:41,840 --> 00:00:44,079 we have been talking about of late, and that is 7 00:00:44,119 --> 00:00:49,000 the DC crime problem. And it's still a top story. 8 00:00:49,320 --> 00:00:52,719 And I mean, to me, this is I've heard some 9 00:00:52,840 --> 00:00:57,840 Democrats already saying, oh, oh oh, this is a trap. 10 00:00:58,640 --> 00:01:02,399 It's a trap, and you go, well, what's the trap? Well, 11 00:01:02,560 --> 00:01:07,799 Donald Trump, they get it. Donald Trump was elected for 12 00:01:07,959 --> 00:01:11,439 lots of reasons. One of them was the border, another 13 00:01:11,560 --> 00:01:15,280 one which he has pretty well fixed and done it 14 00:01:15,319 --> 00:01:19,200 in record time. I mean, he changed that overnight. But 15 00:01:19,239 --> 00:01:22,400 the other big issue was about crime and cracking down 16 00:01:22,439 --> 00:01:25,959 on crime, being tough on crime. This has worked in 17 00:01:26,000 --> 00:01:29,000 the past, or our cycles to it in American politics. 18 00:01:29,760 --> 00:01:34,799 The last time there was a big tough out crime 19 00:01:34,840 --> 00:01:39,560 candidate was Richard Nixon back in nineteen sixty eight, and 20 00:01:39,640 --> 00:01:42,439 it worked for him. Well it's working again for Donald Trump. 21 00:01:42,439 --> 00:01:44,319 A lot of people voted for him to crack down 22 00:01:44,359 --> 00:01:50,239 on crime. So it's painfully obvious to me that he's 23 00:01:50,280 --> 00:01:53,480 looking around and going, well, I got elected because I'm 24 00:01:53,480 --> 00:01:56,799 going to be tough on crime. I'm sitting here in Washington, 25 00:01:56,879 --> 00:02:01,560 d C. Where there's always been crime problem in DC 26 00:02:01,760 --> 00:02:06,319 there always has been. And then somebody on his staff 27 00:02:06,359 --> 00:02:10,080 for himself, whoever, I mean, he has keen political instincts. Well, 28 00:02:10,080 --> 00:02:12,639 wait a minute, I don't have to ask anybody's permission. 29 00:02:13,000 --> 00:02:16,120 I can take control of DC because it's federal property 30 00:02:16,560 --> 00:02:20,000 and under the Home Rule of nineteen seventy three, I 31 00:02:20,039 --> 00:02:24,840 can go in and take over the city and I'll 32 00:02:24,879 --> 00:02:28,360 crack down on crime. And look, it will be another 33 00:02:28,439 --> 00:02:36,080 way for me to fulfill a promise. And so it is. 34 00:02:37,919 --> 00:02:41,360 It's pretty slick. But whether he's already talking about maybe 35 00:02:41,360 --> 00:02:43,560 going to other cities to do this, but it's not 36 00:02:43,599 --> 00:02:45,639 going to be as easy because this is where the 37 00:02:45,719 --> 00:02:53,120 law gives the president total control over federal property. Harry Enton, 38 00:02:53,319 --> 00:02:57,400 the statistician over at CNN. Listen to what he has 39 00:02:57,479 --> 00:03:01,439 found out about what people think about Donald Trump in crime. 40 00:03:01,680 --> 00:03:03,960 Speaker 2: Yeah, I think that Democrats have to get it around 41 00:03:04,000 --> 00:03:07,879 their heads that Americans are far more hawkish on crime 42 00:03:07,919 --> 00:03:09,439 than they think that they are. What are we talking 43 00:03:09,479 --> 00:03:12,879 about Trump's not approval handling crime. Where was he last year? 44 00:03:12,960 --> 00:03:15,680 He was way underwater at minus thirteen points views of 45 00:03:15,759 --> 00:03:16,400 term number one. 46 00:03:16,560 --> 00:03:17,719 Speaker 1: But look at where he is now. 47 00:03:17,919 --> 00:03:20,039 Speaker 2: He's on the positive side of ellection. He's on the 48 00:03:20,080 --> 00:03:23,599 positive side at plus one points. Americans view Trump far 49 00:03:23,719 --> 00:03:26,520 more favorably now on crime than they did a year ago. 50 00:03:26,759 --> 00:03:29,080 And while this polling doesn't take into account what's exactly 51 00:03:29,120 --> 00:03:31,240 happening in DC right now, it does take an account 52 00:03:31,240 --> 00:03:33,319 what happened in Los Angeles, what's happened earlier this year, 53 00:03:33,439 --> 00:03:36,360 and Americans for the most part, actually view Trump favorably. 54 00:03:36,719 --> 00:03:39,319 Crime is one of Trump's best issues. It's one of 55 00:03:39,360 --> 00:03:41,759 the reasons why he wants to talk about crime, because 56 00:03:41,800 --> 00:03:44,360 it favors him. Yeah, okay, I think this sort of 57 00:03:44,400 --> 00:03:46,759 gives the game away here because Donald Trump is like 58 00:03:46,840 --> 00:03:50,039 Air Jordan, towering over Joe Biden when it comes to 59 00:03:50,039 --> 00:03:52,240 their handling a crime. Look in twenty twenty four, look 60 00:03:52,240 --> 00:03:55,199 at where Biden's net approval was on crime, way on 61 00:03:55,360 --> 00:03:57,879 the water there at minus twenty six points. It was 62 00:03:57,879 --> 00:04:00,280 one of Biden's where's issues. Granted, pretty much every issue 63 00:04:00,360 --> 00:04:02,719 is one of Biden's wears issues. And again, look at 64 00:04:02,719 --> 00:04:07,159 where Donald Trump is way, way, way above Joe Biden. 65 00:04:07,199 --> 00:04:07,560 Speaker 1: What is that? 66 00:04:07,560 --> 00:04:12,159 Speaker 2: That's twenty seven points. So Americans vastly prefer Donald Trump's 67 00:04:12,199 --> 00:04:14,840 approach to crime than they ditch you Joe Biden's. And again, 68 00:04:14,879 --> 00:04:17,199 I think it gets back to the point that Americans 69 00:04:17,240 --> 00:04:19,360 are far more hawkish on crime than a lot of 70 00:04:19,360 --> 00:04:20,439 Democrats want to it. 71 00:04:20,519 --> 00:04:20,680 Speaker 1: Mat. 72 00:04:20,759 --> 00:04:22,639 Speaker 2: You know, we're talking about Donald Trump here, right, So 73 00:04:22,720 --> 00:04:24,879 I think it's very important to note that this isn't 74 00:04:25,040 --> 00:04:28,959 just about Donald Trump. It's about Republicans versus Democrats, right, 75 00:04:29,120 --> 00:04:31,720 And that, of course is a key question going into 76 00:04:31,800 --> 00:04:34,560 next year's midterm election. I think the party closest to 77 00:04:34,600 --> 00:04:37,160 your views on crime. Look in twenty twenty three, Republicans 78 00:04:37,160 --> 00:04:39,519 were favored by thirteen points. Look at where they were 79 00:04:39,519 --> 00:04:42,240 in May of this year. Republicans were actually favored by 80 00:04:42,240 --> 00:04:45,839 sixty months. They actually gained ground on crime, They were 81 00:04:45,879 --> 00:04:48,600 maintaining their edge and actually added a little bit to it. 82 00:04:48,759 --> 00:04:51,639 So Republicans in the House, Republicans in the Senate, they 83 00:04:51,839 --> 00:04:54,600 absolutely want to be talking about crime. The more they 84 00:04:54,600 --> 00:04:56,920 feel that we're talking about crime, the better they feel 85 00:04:56,920 --> 00:04:58,759 that the electoral landscape is for them. 86 00:04:59,040 --> 00:05:02,439 Speaker 1: So not only is that's it a morally good thing 87 00:05:02,519 --> 00:05:04,399 to do is to try to crack down on crime. 88 00:05:04,759 --> 00:05:08,000 But people are loving it. And the more you talk 89 00:05:08,040 --> 00:05:11,439 about crime, the more you talk about being a crime fighter, 90 00:05:12,000 --> 00:05:14,959 the more people are going to like it. Remember Tim Paulenti, 91 00:05:15,120 --> 00:05:18,879 he was the governor of Minnesota, ran for president years ago, 92 00:05:19,040 --> 00:05:24,199 didn't get very far, and he's been a moderate, middle 93 00:05:24,240 --> 00:05:28,600 of the road Republican all of his political life, and 94 00:05:28,639 --> 00:05:30,839 he thinks Donald Trump's doing a great job on it. 95 00:05:31,120 --> 00:05:32,759 Speaker 3: What I say to that is that this is an 96 00:05:32,759 --> 00:05:36,120 important issue, both substantively and politically, and for all the 97 00:05:36,160 --> 00:05:39,519 reasons Harry just outlined. This is a powerful issue for 98 00:05:39,560 --> 00:05:42,399 a reason. People are fed up with cities, particularly our 99 00:05:42,439 --> 00:05:47,879 major urban centers, being filled with homeless encampments, crime, graffiti, 100 00:05:48,240 --> 00:05:49,800 and other liveability issues. 101 00:05:49,839 --> 00:05:50,399 Speaker 1: And they've had it. 102 00:05:50,439 --> 00:05:53,319 Speaker 3: And President Trump has tapped into that. And by the way, 103 00:05:53,519 --> 00:05:55,680 it's not like he just came up with this problem. 104 00:05:55,720 --> 00:05:55,959 Speaker 1: Now. 105 00:05:56,120 --> 00:05:59,759 Speaker 3: DC has been dysfunctional for big parts of its modern history, 106 00:06:00,160 --> 00:06:03,480 and no mayor, no city council has really made substantial progress. 107 00:06:03,560 --> 00:06:06,240 It's a mess, and I'm glad that he's actually taking 108 00:06:06,319 --> 00:06:09,920 bold treatment towards DC. They need a shock and they're 109 00:06:09,920 --> 00:06:10,399 getting it. 110 00:06:10,519 --> 00:06:14,279 Speaker 1: So that's the fascinating part to me, is that the 111 00:06:14,399 --> 00:06:17,680 people that live in that city, you would think that 112 00:06:17,759 --> 00:06:22,079 they would be tired of the crime and the homelessness 113 00:06:22,160 --> 00:06:25,439 and all of the problems that Washington, DC has, or 114 00:06:25,759 --> 00:06:31,480 LA or San Francisco or name your city, Chicago. Why 115 00:06:31,519 --> 00:06:34,839 do they keep voting for the people that don't know 116 00:06:34,879 --> 00:06:37,720 how to run the city. Why do they keep voting 117 00:06:37,759 --> 00:06:41,240 for them? That is the part that bothers me. Maybe 118 00:06:41,240 --> 00:06:44,399 it's because of the fact that they give them crumbs, 119 00:06:44,439 --> 00:06:48,600 they hand out money or programs for them just to 120 00:06:48,680 --> 00:06:53,279 keep them pacified. But the people of Washington, d C. 121 00:06:54,360 --> 00:06:57,240 It's like Tim Plenty said, it's been dysfunctional for as 122 00:06:57,240 --> 00:06:59,839 long as I can remember, and he can remember. So 123 00:07:00,120 --> 00:07:02,439 why do people keep voting for the same losers that 124 00:07:02,439 --> 00:07:06,199 are running the city? I don't have the answer, but 125 00:07:06,319 --> 00:07:10,000 it is quizzical. People are so fed up with these issues. 126 00:07:10,040 --> 00:07:11,000 I think they're willing. 127 00:07:10,759 --> 00:07:13,519 Speaker 3: To tolerate, at least for a while, a little bit 128 00:07:13,600 --> 00:07:17,240 of perhaps overreach or aggressive behavior. And by the way, 129 00:07:17,319 --> 00:07:19,639 I lived in DC for six years. I'm a frequent 130 00:07:19,759 --> 00:07:23,519 visitor there, and they got problems. And as to your question, though, 131 00:07:23,959 --> 00:07:28,399 does it look overly dramatic maybe initially, but when more 132 00:07:28,480 --> 00:07:32,480 business as usual more of the same isn't working, and 133 00:07:32,519 --> 00:07:35,959 so something different has to be tried. There's been no administration, 134 00:07:36,160 --> 00:07:38,800 either federally or in the DC district where they fundamentally 135 00:07:38,879 --> 00:07:41,160 have solved these problems for any length of time. So 136 00:07:41,279 --> 00:07:43,560 just saying a little more money for a little longer 137 00:07:43,639 --> 00:07:46,399 time isn't going to work. We have to try something different. 138 00:07:46,399 --> 00:07:47,920 I applaud the President for trying. 139 00:07:48,240 --> 00:07:52,680 Speaker 1: Well, so do I. Whether it's a political stunt, or 140 00:07:52,720 --> 00:07:55,360 it's over aggressive, or whatever complaint you want to have 141 00:07:55,480 --> 00:07:58,560 about what's going on in DC, it's going to be 142 00:07:58,639 --> 00:08:01,000 if nothing else associate cologist out there are going to 143 00:08:01,000 --> 00:08:04,680 be studying is to see, hey, maybe you try something new, 144 00:08:04,759 --> 00:08:08,279 maybe you try something different. So the President says he's 145 00:08:08,319 --> 00:08:10,839 going to try to get an extension on the thirty day. 146 00:08:11,000 --> 00:08:13,759 He's aware of the thirty day requirement that this is 147 00:08:13,879 --> 00:08:16,959 only good. The president can only take over control of 148 00:08:16,959 --> 00:08:21,600 the district for thirty days without getting Congress to pass 149 00:08:21,639 --> 00:08:26,399 an extension. He thinks Congress will pass it because he 150 00:08:26,680 --> 00:08:30,639 thinks all the Republicans will give him the okay to continue, 151 00:08:31,240 --> 00:08:34,679 and that the Democrats are in this pickle where they 152 00:08:35,120 --> 00:08:39,240 can't vote against him because otherwise they'll look like they're 153 00:08:39,799 --> 00:08:45,440 for crime. And nobody's for crime, not even the Democrats. 154 00:08:45,440 --> 00:08:49,360 So the problem is it's just incompetent leadership. And I 155 00:08:49,399 --> 00:08:52,679 think that's the true of so many of our big cities. 156 00:08:53,080 --> 00:08:57,120 Speaking of which the mayor's race in New York is. 157 00:08:59,120 --> 00:09:01,440 I try not to spend much time on it because 158 00:09:01,480 --> 00:09:03,600 it's local, but it's not. It's getting a lot of 159 00:09:04,320 --> 00:09:09,840 national attention. Today. It turned out where Zoron ma'am Danny 160 00:09:10,720 --> 00:09:14,960 said yeap Obama called him after he won the primary. 161 00:09:15,600 --> 00:09:19,000 And so a lot of Democrats are afraid to come 162 00:09:19,039 --> 00:09:23,200 out and say, including Obama, saying that they're endorsing him. 163 00:09:23,240 --> 00:09:25,519 Not only are they afraid to say if they're endorsing 164 00:09:25,639 --> 00:09:28,919 him or not. Hakim Jeffries, who is not only the 165 00:09:28,960 --> 00:09:32,399 minority leader in the House of Representatives, but he's also 166 00:09:32,440 --> 00:09:35,639 a Congressman from Brooklyn, and he was asked a number 167 00:09:35,679 --> 00:09:39,320 of questions this morning by Andrew Ross Sorkin, who is 168 00:09:39,440 --> 00:09:44,080 a liberal guy, all kinds of questions and hawk King 169 00:09:44,159 --> 00:09:48,000 Jeffries just would not answer any of the questions. Here's 170 00:09:48,039 --> 00:09:49,240 an example. Listen to this. 171 00:09:49,559 --> 00:09:52,720 Speaker 4: Andrew Cuomo has made the point that Zoron Madami lives 172 00:09:52,720 --> 00:09:55,919 in a rank control department even though he is not 173 00:09:56,840 --> 00:10:00,639 considered quote unquote poor, and that Andrew Quan would actually 174 00:10:00,679 --> 00:10:02,919 try to create a law in the state that would 175 00:10:03,000 --> 00:10:07,320 prevent people like Mandomie from being from living in a 176 00:10:07,399 --> 00:10:09,120 rank control department. Do you think that he should live 177 00:10:09,120 --> 00:10:10,159 in a rank control department? 178 00:10:12,279 --> 00:10:15,960 Speaker 5: Well, listen, that's an issue for the state legislators and 179 00:10:16,399 --> 00:10:17,799 the state government to work out. 180 00:10:18,039 --> 00:10:22,159 Speaker 4: No, but it's a fascinating issue about affordability in this 181 00:10:22,279 --> 00:10:24,840 city and whether there are folks who are living in 182 00:10:24,879 --> 00:10:28,559 rent control departments all across this city that effectively should 183 00:10:28,559 --> 00:10:34,039 be going towards poor people who need that affordability. 184 00:10:35,240 --> 00:10:38,919 Speaker 5: It's a legitimate issue that has been raised, and the 185 00:10:39,000 --> 00:10:40,960 Mondamine campaign is going to have to address it. 186 00:10:42,120 --> 00:10:45,120 Speaker 1: Hakim Jefferies is just one of the many Democrats that 187 00:10:45,159 --> 00:10:48,600 are afraid to go anywhere near this guy. He's leading, 188 00:10:49,200 --> 00:10:52,639 but they're afraid to buddy up with him because he's 189 00:10:52,679 --> 00:10:56,039 totally I mean, Donald Trump calls him a communist. He is. 190 00:10:56,480 --> 00:11:01,240 He's not a socialist. He wants the city to control 191 00:11:01,840 --> 00:11:05,200 the private sector. Here's some of his by the way, 192 00:11:05,200 --> 00:11:08,440 his campaign is he's going from Burrow to Burrow one 193 00:11:08,480 --> 00:11:13,360 a day this week, and the message is I'm running 194 00:11:13,399 --> 00:11:17,200 against Donald Trump. Donald Trump is terrible. Now, if I 195 00:11:17,320 --> 00:11:20,919 remember right, Hillary Clinton tried to do that, saying vote 196 00:11:20,960 --> 00:11:24,679 for me because I'm not him. It didn't work. They 197 00:11:24,720 --> 00:11:28,000 also tried it with Kamala Harris. People try to vote 198 00:11:28,399 --> 00:11:31,120 run against Donald Trump. Sure, there's a lot of people 199 00:11:31,120 --> 00:11:33,399 that don't like Donald Trump. But if you're trying to 200 00:11:33,399 --> 00:11:36,399 put yourself up against Donald Trump, it doesn't seem to 201 00:11:36,480 --> 00:11:40,840 work politically. Here's mom Damie, and this is his message, 202 00:11:40,840 --> 00:11:42,480 trying to win well Burrow. 203 00:11:42,320 --> 00:11:46,000 Speaker 6: That will be free from Trump's cruelty. I describe my 204 00:11:46,080 --> 00:11:49,879 administration as being his worst nightmare. I describe it as 205 00:11:49,879 --> 00:11:52,360 such because we will actually fight for the people that 206 00:11:52,399 --> 00:11:54,120 he claimed to be running to represent. 207 00:11:54,799 --> 00:11:57,960 Speaker 1: So go to a political pro Carl Rove knows all 208 00:11:58,000 --> 00:12:03,799 about running campaigns, and here's his opinion of Donnie's campaign 209 00:12:03,840 --> 00:12:05,919 so far about running against Donald Trump. 210 00:12:06,000 --> 00:12:08,279 Speaker 7: Well, look, it works for him because he's the front 211 00:12:08,320 --> 00:12:11,360 runner and this allows him to eat up time. Think 212 00:12:11,399 --> 00:12:13,440 about this. We have about eleven weeks left in the 213 00:12:13,480 --> 00:12:16,919 election and he's out there saying I am Donald Trump's 214 00:12:16,919 --> 00:12:20,320 worst nightmare, which appeals to the more left wing Democrats, 215 00:12:20,840 --> 00:12:23,159 and it leaves his opponents trying to catch up with him. 216 00:12:23,159 --> 00:12:26,879 I thought Andrew CMO's response, well, I'm actually his worst 217 00:12:27,000 --> 00:12:29,320 nightmare because I actually stood up to him in Ancient 218 00:12:29,399 --> 00:12:34,759 History Times twenty twenty and so this is good for Domi. 219 00:12:35,279 --> 00:12:38,200 What gets me is it's to the benefit of both 220 00:12:38,240 --> 00:12:41,759 Mom Dommi and Trump that he take this line, because 221 00:12:41,799 --> 00:12:45,120 Trump is looking at it in a national picture and saying, 222 00:12:45,159 --> 00:12:49,799 if New York has a Democratic socialist mayor, and if 223 00:12:49,840 --> 00:12:52,679 you add one in Minneapolis, for example, we can run 224 00:12:52,720 --> 00:12:56,120 against them in the twenty twenty six midterms and say, look, 225 00:12:56,159 --> 00:12:58,320 here's what the New Democratic Party is all about. It's 226 00:12:58,360 --> 00:13:02,759 about free everything, democratic socialists, blah blah blah blah blah. 227 00:13:02,799 --> 00:13:06,440 So you know, both both Trump and Mom Dommy benefit 228 00:13:06,480 --> 00:13:10,320 from this, and the Democrat other Democrats I think are 229 00:13:10,320 --> 00:13:13,039 making a mistake. They ought to be out there finding 230 00:13:13,080 --> 00:13:15,559 a way to change the dialogue back to something on 231 00:13:15,600 --> 00:13:17,519 which they can win. Can I give you one example, 232 00:13:18,320 --> 00:13:20,519 what happened? What would happen? Mom Dommy said at the 233 00:13:20,600 --> 00:13:21,879 end of this, he said, you know what, I'm going 234 00:13:21,960 --> 00:13:26,399 to be spending city money to defend people in the 235 00:13:26,440 --> 00:13:29,840 city against deportation. What if a Democrat said, well, you 236 00:13:29,879 --> 00:13:31,799 know what, I just want to agree, I will use 237 00:13:31,840 --> 00:13:36,120 city money to defend people who are here in our city, 238 00:13:36,159 --> 00:13:39,399 contributing to our society, have kept their nose clean, whom 239 00:13:39,519 --> 00:13:41,320 Trump is trying to deport out of the country. I'm 240 00:13:41,320 --> 00:13:43,960 going to use your taxpayer dollars to defend him, but 241 00:13:44,159 --> 00:13:46,600 only if they've kept their nose clean. If they're criminals, 242 00:13:47,639 --> 00:13:50,440 that's their problem. We want them out of our community. 243 00:13:50,679 --> 00:13:53,120 What that would say is I'm a Democrat and I'm 244 00:13:53,159 --> 00:13:57,360 willing to spend your money to defend undocumented people, but 245 00:13:57,519 --> 00:14:00,159 I draw the line at criminals. So if you you're 246 00:14:00,200 --> 00:14:02,120 a normal Democrat, you don't have to go for the 247 00:14:02,159 --> 00:14:04,720 socialist in order to get what you want as a Democrat. 248 00:14:04,799 --> 00:14:07,639 It's a little dangerous, but they may need to do 249 00:14:08,080 --> 00:14:11,840 that with tetrology. Oh, Carl's right, that's you know, taking 250 00:14:11,879 --> 00:14:15,360 a big risk. But in New York, Democrats probably going 251 00:14:15,399 --> 00:14:18,000 to be the one that wins. So why not try 252 00:14:18,039 --> 00:14:23,399 to schmooze up to the majority of Democrats. And Andrew Cuomo, 253 00:14:25,159 --> 00:14:29,960 I don't know if he has the energy to do 254 00:14:30,039 --> 00:14:35,200 all of this to run another campaign. Well, he didn't 255 00:14:35,240 --> 00:14:36,960 have it to first go round, and he had all 256 00:14:37,000 --> 00:14:40,759 the advantages. He was better known, he had the political endorsements, 257 00:14:40,759 --> 00:14:42,960 he had lots and lots of money, and he ran 258 00:14:43,039 --> 00:14:45,919 way behind Mountdammie. He's got to find a way to 259 00:14:46,279 --> 00:14:50,159 shake this thing up. And look, the way to shake 260 00:14:50,200 --> 00:14:52,279 it up is to find a way to say I'm 261 00:14:52,279 --> 00:14:55,159 the normal Democrat who can actually run this place, and 262 00:14:55,200 --> 00:14:57,919 that guy over there is extreme and it's going to 263 00:14:58,000 --> 00:14:59,720 serve It's not going to serve the city of New 264 00:14:59,799 --> 00:15:02,360 York or our Democratic Party if he's the face of 265 00:15:02,720 --> 00:15:05,039 both our city and our party nationwide. 266 00:15:05,399 --> 00:15:10,679 Speaker 1: So that brings us to social Security today. I know 267 00:15:10,720 --> 00:15:14,120 you've got this marked on your calendar. Today is the 268 00:15:14,279 --> 00:15:20,240 ninetieth anniversary of Social Security. Yep FDR was the president. 269 00:15:20,320 --> 00:15:26,679 It was August fourteenth, nineteen thirty five, and at the 270 00:15:26,759 --> 00:15:30,679 time they said we'll make it so that when people 271 00:15:30,799 --> 00:15:34,559 turn sixty five they can start collecting social Security. They've 272 00:15:34,639 --> 00:15:37,879 changed it to sixty six and now to sixty seven, 273 00:15:37,919 --> 00:15:39,759 and who knows what they're going to do to it 274 00:15:39,799 --> 00:15:43,080 in the future as far as your eligibility age, but 275 00:15:43,320 --> 00:15:49,919 as or withdrawal age. But they never really talk about this. 276 00:15:50,000 --> 00:15:55,240 But what they did this was I think borderline criminal. 277 00:15:55,840 --> 00:15:59,240 But what the government did in nineteen thirty five was 278 00:15:59,320 --> 00:16:03,559 they knew the the actuarials knew that most people don't 279 00:16:03,639 --> 00:16:08,159 live much past or at all past sixty five. Back 280 00:16:08,200 --> 00:16:11,799 in the nineteen thirties, that was it. So they were 281 00:16:11,919 --> 00:16:14,200 hoping that you would pour a bunch of money into 282 00:16:14,200 --> 00:16:17,559 Social Security, and Social Security would never ever have to 283 00:16:17,600 --> 00:16:19,600 pay it out, or if they paid out any it 284 00:16:19,639 --> 00:16:22,519 would be very few people who were able to live 285 00:16:22,559 --> 00:16:29,120 longer than their actuarial expected date of death. So it's 286 00:16:29,200 --> 00:16:34,320 still a big question because there's something like seventy thousand 287 00:16:34,399 --> 00:16:39,360 baby boomers that are mostly in retirement age eligibility age 288 00:16:39,399 --> 00:16:43,240 for Social Security, and they are collecting something like one 289 00:16:43,320 --> 00:16:47,720 hundred and thirty billion dollars a month. So the guy 290 00:16:47,799 --> 00:16:52,200 who took over Donald Trump appointed as the new head 291 00:16:52,320 --> 00:16:54,879 of Social Security is a guy by the name of 292 00:16:54,919 --> 00:17:01,480 Frank Bisigan Bisignano. Frank Bisignano, he used to be the 293 00:17:01,600 --> 00:17:06,480 chief operating officer over at JP Morgan Chase. He's run 294 00:17:06,519 --> 00:17:08,839 a couple of other countries. He's a turnaround guy. He's 295 00:17:08,880 --> 00:17:13,000 taken some companies that were doing terrible and turned them around. 296 00:17:13,680 --> 00:17:18,000 So they asked him today about where social Security is 297 00:17:18,359 --> 00:17:21,079 going to go and can you fix it? 298 00:17:21,119 --> 00:17:22,839 Speaker 8: Well, I think first of all, you have to think 299 00:17:22,880 --> 00:17:25,720 about the foundation, and what we've been doing is working 300 00:17:25,720 --> 00:17:29,119 out on the foundation. Second of all, we've always talked 301 00:17:29,160 --> 00:17:35,279 about social Security as seventy two million beneficiarias, we're talking 302 00:17:35,279 --> 00:17:40,160 about three hundred million active more than three hundred million 303 00:17:40,279 --> 00:17:44,160 active Social Security numbers, and so the ability to serve 304 00:17:44,319 --> 00:17:48,960 that whole base was really job one. Job two to 305 00:17:49,119 --> 00:17:52,400 digitize the business, and we have a bold goal to 306 00:17:52,480 --> 00:17:57,279 have two hundred million digital users. While doing that, we've 307 00:17:57,319 --> 00:17:59,240 been working on fraud, waste and abuse. 308 00:18:00,200 --> 00:18:01,640 Speaker 9: Earlier today I talked. 309 00:18:01,359 --> 00:18:07,680 Speaker 8: About eight billion dollars of changes we've made. These inputs 310 00:18:07,720 --> 00:18:10,920 have not gone into in solvacy formula yet, and the 311 00:18:10,960 --> 00:18:13,759 amount that we're still going to work on is still 312 00:18:13,799 --> 00:18:16,799 not even uncovered. It was an organization that had a 313 00:18:16,920 --> 00:18:20,480 one percent araray. I've often said, we need to move 314 00:18:20,519 --> 00:18:23,799 that five digits to the right. That may not solve 315 00:18:23,880 --> 00:18:27,599 the whole problem, but up till now, we've never accounted 316 00:18:27,680 --> 00:18:32,880 for a well run organization. It's not the expenses of 317 00:18:32,960 --> 00:18:36,599 the organization, it's the expenses of the Trust Funds. So 318 00:18:36,680 --> 00:18:39,319 I'm optimistic that each year we'll chip away at it. 319 00:18:39,880 --> 00:18:43,640 At some point in time, the Trust Funds trustees, which 320 00:18:43,680 --> 00:18:48,519 I'm one of us, one of them along with you know, Congress, 321 00:18:48,559 --> 00:18:51,519 we'll see what's needed. But I think it's verymature because 322 00:18:51,519 --> 00:18:57,160 we're doing so much to fix the operations of the organization. Well, 323 00:18:57,160 --> 00:18:59,400 as I said before, first of all, I like us 324 00:18:59,440 --> 00:19:01,640 to think about it. You know that one hundred and 325 00:19:01,759 --> 00:19:06,279 thirty that we looked at goes to seventy two million Americans, 326 00:19:06,599 --> 00:19:09,880 but there's three hundred million Americans that we actually serve 327 00:19:10,400 --> 00:19:14,559 with the Social Security number and having the pure accuracy 328 00:19:14,599 --> 00:19:18,039 of that. If you think about the cost of the 329 00:19:18,079 --> 00:19:21,799 inaccuracies of a one percent errate on that, that's very 330 00:19:21,920 --> 00:19:24,960 very large. So I think the first thing, and you know, 331 00:19:25,119 --> 00:19:27,759 there's my one hundred day in the job. You heard 332 00:19:27,839 --> 00:19:30,119 the stats from the President on what we've done in 333 00:19:30,200 --> 00:19:34,519 terms of servicing, getting the systems up one hundred percent 334 00:19:34,519 --> 00:19:36,839 of the time. We had a website down twenty nine 335 00:19:36,880 --> 00:19:39,960 percent of the time. If those things don't work right, 336 00:19:40,759 --> 00:19:43,119 that's not causing out payments to work right. 337 00:19:43,400 --> 00:19:46,519 Speaker 9: So the next job is payment accuracy. 338 00:19:46,960 --> 00:19:49,680 Speaker 8: And as we whittle away at that, we'll come back 339 00:19:50,039 --> 00:19:52,359 with ideas and thoughts on how to make this a 340 00:19:52,359 --> 00:19:55,880 better performer and ultimately protect and preserve it for the 341 00:19:56,000 --> 00:20:00,720 next ninety years. I'd say, in that same interview, your 342 00:20:00,759 --> 00:20:04,200 good senator talked about us having half the staffing that 343 00:20:04,240 --> 00:20:06,799 we have. You know, so are a lot of things 344 00:20:06,880 --> 00:20:10,720 that that interview that I would throw out because the 345 00:20:10,839 --> 00:20:13,359 inaccuracy is field office is closing. 346 00:20:13,440 --> 00:20:15,400 Speaker 9: We haven't closed one field office. 347 00:20:15,559 --> 00:20:18,119 Speaker 8: We're going to serve the American public where they should 348 00:20:18,160 --> 00:20:23,599 be served. There's been a drumbeat of inaccuracies consistently while 349 00:20:23,640 --> 00:20:27,359 we're performing better than any other agency. And if you 350 00:20:27,440 --> 00:20:30,839 had a business, I took a company First Data. It 351 00:20:31,079 --> 00:20:34,799 was ten x levered, with twenty four and a half 352 00:20:34,839 --> 00:20:38,240 billion a debt and losing money, and we ultimately turned 353 00:20:38,240 --> 00:20:42,240 it into a great company. It's started by fixing the operations. 354 00:20:42,319 --> 00:20:44,839 Nobody wants to talk about that, but that's where all 355 00:20:44,920 --> 00:20:47,519 the money goes through. So I'm going to come back 356 00:20:47,519 --> 00:20:50,759 to my platform. It's have a vision for a digital 357 00:20:51,079 --> 00:20:56,160 first agency, have two hundred million digital users by the 358 00:20:56,240 --> 00:20:59,559 end of next year, have it run as a great 359 00:20:59,640 --> 00:21:03,279 payment company, which would be five digits to the right 360 00:21:03,400 --> 00:21:06,240 of one percent, and then we'll actually know what the 361 00:21:06,400 --> 00:21:07,240 nut might be. 362 00:21:08,279 --> 00:21:11,079 Speaker 1: Yeah, so I don't know. He sounds a little wonky 363 00:21:11,680 --> 00:21:15,799 to me, but he's got a track record of turning 364 00:21:15,839 --> 00:21:22,000 around organizations that need financial turnarounds. So yeah, his name's 365 00:21:22,000 --> 00:21:28,519 Frank Bisignano, and he wants to get the operations fixed first. 366 00:21:29,039 --> 00:21:33,240 But he doesn't. He's not talking about Social Security going broke. 367 00:21:34,440 --> 00:21:37,799 He has a plan to fix it. And that's probably 368 00:21:37,799 --> 00:21:42,400 a good point of Benny. Even the President today introducing 369 00:21:42,680 --> 00:21:46,119 the new head of Social Security, I was talking about 370 00:21:46,160 --> 00:21:48,559 the fact that, hey, how about that, no more tax 371 00:21:48,599 --> 00:21:52,319 on Social Security, and it's just not true. The big 372 00:21:52,359 --> 00:21:56,279 beautiful bill, that's what President wanted, but that's not what 373 00:21:56,480 --> 00:22:03,839 came out of Congress. Social Security is still taxable, federal tax. 374 00:22:03,880 --> 00:22:07,160 I don't know about what your state says. Nine states 375 00:22:07,200 --> 00:22:12,000 imposed some income tax on Social Security, but what they 376 00:22:12,119 --> 00:22:18,640 did was not make Social Security untaxable. Still taxed, but 377 00:22:18,839 --> 00:22:22,680 if you are sixty five or older, you can claim 378 00:22:22,839 --> 00:22:27,920 six thousand dollars deduction. That's six thousand dollars for each 379 00:22:27,960 --> 00:22:31,400 of you if you're filing married, filing jointly, so it's 380 00:22:31,440 --> 00:22:35,000 a six thousand dollars deduction for tax years twenty twenty 381 00:22:35,039 --> 00:22:39,160 five through twenty twenty eight and basically until Donald Trump 382 00:22:39,279 --> 00:22:42,279 is out of office. So that's what he's doing, is 383 00:22:42,319 --> 00:22:46,640 giving you a deduction. The senior deduction is reduced by 384 00:22:46,759 --> 00:22:50,599 six percent if you have an income of above seventy 385 00:22:50,720 --> 00:22:54,839 adjusted gross income seventy five thousand dollars for singles, one 386 00:22:54,880 --> 00:22:59,720 hundred and fifty thousand dollars for joint filers, so you 387 00:22:59,759 --> 00:23:04,119 don't it's still taxable. You get a deduction six thousand 388 00:23:04,200 --> 00:23:07,599 dollars per nose for you, and if you're married, finally 389 00:23:07,680 --> 00:23:11,839 jointly for your spouse, and your income has to be 390 00:23:11,839 --> 00:23:14,640 below seventy five thousand single or one hundred and fifty 391 00:23:14,680 --> 00:23:19,440 thousand for a joint return. So according to the White 392 00:23:19,480 --> 00:23:24,279 House Council of Economic Advisors, apparently about twelve percent of 393 00:23:24,319 --> 00:23:29,720 seniors will still be paying taxes on Social Security. So 394 00:23:29,799 --> 00:23:32,559 I just want to correct it because it's talked about. 395 00:23:32,599 --> 00:23:36,039 Even the President's mentioned a couple of times about how 396 00:23:36,079 --> 00:23:40,759 there's no taxes on Social Security, and that's just not true. 397 00:23:41,079 --> 00:23:44,720 There is, but you've got to go through a deduction 398 00:23:44,839 --> 00:23:47,680 in order to get it. So I should have started 399 00:23:48,160 --> 00:23:51,599 with the top story of the day, which I'm being 400 00:23:52,319 --> 00:24:00,000 facetious about YouTube. Is a couple of stories about YouTube today. 401 00:24:00,119 --> 00:24:02,559 One of them is is that YouTube is going to 402 00:24:02,559 --> 00:24:08,920 start using AI to guess your age. They want to 403 00:24:09,079 --> 00:24:13,359 make some content, especially porn, not available to you if 404 00:24:13,359 --> 00:24:17,200 you're under eighteen. And what they're going to do to 405 00:24:17,319 --> 00:24:21,200 guess your age is they have your history of what 406 00:24:21,279 --> 00:24:25,720 you like to watch on YouTube. They also will look 407 00:24:25,839 --> 00:24:29,720 to see how old your account is and if it's 408 00:24:29,720 --> 00:24:33,440 been around a long time, and if it's If they 409 00:24:33,519 --> 00:24:37,799 guess that you're not an adult, and they prohibit you 410 00:24:37,880 --> 00:24:42,079 from watching certain YouTube channels you're going to have, you 411 00:24:42,119 --> 00:24:43,960 can get around it, but you've got to provide them, 412 00:24:44,279 --> 00:24:48,720 send them upload your driver's license, and I don't know 413 00:24:48,720 --> 00:24:51,920 what else to prove that you are an adult. The 414 00:24:52,319 --> 00:24:56,160 big story though about YouTube that I've been burying is 415 00:24:57,000 --> 00:25:04,680 Taylor Swift. Last night, she and Travis Kelsey, her boyfriend, 416 00:25:05,200 --> 00:25:08,640 went on The Kelsey Brothers have a YouTube channel. It's 417 00:25:08,640 --> 00:25:12,200 about football, and she went on the first time she's 418 00:25:12,200 --> 00:25:15,400 ever done a podcast, and she went on with her 419 00:25:15,440 --> 00:25:20,240 boyfriend and his brother and disclosed her new album which 420 00:25:20,279 --> 00:25:27,039 is coming out. I don't know soon. Anyway, it crashed YouTube. 421 00:25:27,319 --> 00:25:32,000 YouTube has some pretty strong backbones, and the whole thing 422 00:25:32,160 --> 00:25:36,359 went down last night after I think an hour and 423 00:25:36,480 --> 00:25:40,759 they had to repost another twenty minutes of it later 424 00:25:41,200 --> 00:25:45,680 something like that. But Taylor Swift Swift crashed YouTube last 425 00:25:45,759 --> 00:25:55,039 night with Travis Kelsey. Economy, Well, this is let me 426 00:25:55,119 --> 00:25:57,200 just give you the facts here. It is a producer 427 00:25:57,200 --> 00:26:01,200 price index, the wholesale inflation rate, if you will. Producer 428 00:26:01,240 --> 00:26:05,480 price index was expected to go up two tenths of 429 00:26:05,519 --> 00:26:11,160 one percent. Instead it went up nine tenths of one percent. 430 00:26:13,400 --> 00:26:16,480 The core rate when you thaw out food and energy 431 00:26:16,720 --> 00:26:20,759 was also up nine tenths So year over year, inflation 432 00:26:21,519 --> 00:26:25,279 at the core rate at the producer level wholesale level 433 00:26:25,720 --> 00:26:30,599 now up to three point three percent. That is much 434 00:26:30,680 --> 00:26:34,240 higher than had been expected. And the FED is going 435 00:26:34,279 --> 00:26:37,160 to be meeting mid September, and they got to be 436 00:26:37,160 --> 00:26:40,400 looking at this and going, oh boy, this is more 437 00:26:40,440 --> 00:26:43,279 inflation than we thought it would be. So will the Fed, 438 00:26:44,119 --> 00:26:48,519 which the Federal Fund's Future Market is estimating ninety three 439 00:26:48,599 --> 00:26:51,079 percent chance that they're going to be cutting interest rates 440 00:26:51,400 --> 00:26:54,160 by a quarter of a percent in September. But with 441 00:26:54,319 --> 00:26:56,839 this kind of news, you know, there's going to be 442 00:26:56,920 --> 00:26:59,079 some of the members of the Open Market Committee that 443 00:26:59,119 --> 00:27:01,799 are going to say, I don't know, inflation looks like 444 00:27:01,839 --> 00:27:06,880 it's starting to show its ugly head. So this is 445 00:27:06,960 --> 00:27:09,839 not good news for the Fed. They're going to have 446 00:27:09,920 --> 00:27:13,599 to still. The market's betting they're still going to drop 447 00:27:13,640 --> 00:27:16,759 interest rates. But this is a question of are we 448 00:27:16,920 --> 00:27:23,240 starting to see little dribs and drabs of inflation coming 449 00:27:23,359 --> 00:27:29,319 from tariffs. It's too soon to tell. Tariffs take a 450 00:27:29,359 --> 00:27:32,960 long time to work their way through the economy. President 451 00:27:33,039 --> 00:27:37,519 was also talking about that again today, about the trillions 452 00:27:37,559 --> 00:27:39,920 he says that we have collected. I think it's in 453 00:27:39,960 --> 00:27:43,039 the tens of billions. It's a lot of money that 454 00:27:43,119 --> 00:27:46,200 we've collected because of tariffs. And I have to ask 455 00:27:46,559 --> 00:27:51,240 you to ask the question who is paying the trillions 456 00:27:51,279 --> 00:27:56,720 of dollars to the US Treasury. Mostly it's from consumers. Now, 457 00:27:56,720 --> 00:28:00,839 there are some companies that are eating that charge and 458 00:28:01,440 --> 00:28:03,400 not passing it on, but a lot of them are, 459 00:28:03,920 --> 00:28:06,920 and a lot of them are saying that they're eating 460 00:28:06,960 --> 00:28:09,359 the charge for now, but they can't keep that up forever. 461 00:28:11,279 --> 00:28:14,319 So if when every time he brags about the huge 462 00:28:14,359 --> 00:28:16,759 amount of money that's coming in from tariffs. Just remember, 463 00:28:16,920 --> 00:28:20,519 somebody's paying that. And despite what he says, he has 464 00:28:20,599 --> 00:28:23,519 it wrong. He's always had it wrong. He says foreign 465 00:28:23,640 --> 00:28:29,039 countries pay it. No, they do not. It's that simple, 466 00:28:31,119 --> 00:28:33,519 So let's talk. A job report also came out first 467 00:28:33,559 --> 00:28:38,000 time jobs claims two hundred and twenty four thousand. That's 468 00:28:38,119 --> 00:28:41,599 down from we were estimating two hundred and twenty nine thousand. 469 00:28:42,359 --> 00:28:46,000 Continuing claims long term claims a million, nine hundred and 470 00:28:46,000 --> 00:28:53,799 fifty three thousand, that's down fifteen thousand. So one of 471 00:28:53,799 --> 00:28:56,680 the economists that is a professor at the Stanford Graduate 472 00:28:56,720 --> 00:29:00,720 School of Business. His name is Josh Ruaw. He is 473 00:29:00,880 --> 00:29:07,359 not seen tariff inflation yet yet. Is the operative word here? 474 00:29:07,400 --> 00:29:10,839 Speaker 10: He is, Well, it's a toasting number. But I think 475 00:29:10,839 --> 00:29:13,599 this PPI index, it's pretty volatile. I don't think you 476 00:29:13,640 --> 00:29:15,559 can read too much into this. One thing I noticed 477 00:29:15,559 --> 00:29:18,200 that we haven't mentioned yet is that the services component 478 00:29:18,279 --> 00:29:20,920 is actually up more strongly the than the goods component. 479 00:29:21,160 --> 00:29:23,359 And if you're you're thinking it could be about terrorifts, 480 00:29:23,359 --> 00:29:26,759 well you expect to see more in goods. So I 481 00:29:26,759 --> 00:29:30,880 think it generally reflects possibly somewhat hotter demand than we 482 00:29:30,920 --> 00:29:34,640 had thought. It may slightly temper what the FED would 483 00:29:34,680 --> 00:29:38,720 be thinking for the September meeting, but not by too much. 484 00:29:38,720 --> 00:29:41,000 And I also would want to underscore what you were 485 00:29:41,000 --> 00:29:44,400 discussing before, which is that the Fed should not be 486 00:29:44,640 --> 00:29:48,640 responding to price changes that would be driven by tariffs. 487 00:29:48,720 --> 00:29:50,640 I'm not seeing I mean, for the CPI, you had 488 00:29:50,640 --> 00:29:54,519 to squint real hard to see evidence of tariffs in there. 489 00:29:54,799 --> 00:29:56,960 On the this PPI as well. You know, I think 490 00:29:56,960 --> 00:29:59,440 we got we got to digest the numbers. I'm not 491 00:29:59,480 --> 00:30:03,680 seeing it. So in any case, it's I think it's 492 00:30:03,680 --> 00:30:05,880 a volatile index. I think we're we're gonna have to 493 00:30:05,920 --> 00:30:08,119 wait and see what comes out with the PCE and 494 00:30:08,160 --> 00:30:09,480 the jobs numbers in early September. 495 00:30:09,519 --> 00:30:13,119 Speaker 1: Of course, so those are the numbers inflation at the 496 00:30:13,160 --> 00:30:17,240 wholesale level hotter than expected. The big question then becomes 497 00:30:18,559 --> 00:30:22,039 do you believe the numbers? This is where we are now. 498 00:30:22,920 --> 00:30:25,839 We had the person that ran the Bureau of Labor 499 00:30:25,880 --> 00:30:30,079 Statistics who was fired for incompetence. President Trump is just 500 00:30:30,119 --> 00:30:34,039 appointed AJ and Tony to be the new head of 501 00:30:34,079 --> 00:30:38,200 this And the question about AJ is is he political 502 00:30:38,799 --> 00:30:41,759 and is this a number that is going to be 503 00:30:41,880 --> 00:30:45,599 driven by politics or is it really driven by good 504 00:30:45,799 --> 00:30:50,079 economic stats. Back to Josh Ruaw, what I. 505 00:30:50,039 --> 00:30:52,119 Speaker 10: Do think about AJ Anthony is that some of his 506 00:30:52,160 --> 00:30:55,559 statistical analyzes are not of the highest quality. I'd like 507 00:30:55,559 --> 00:30:57,559 to see somebody really high quality that job, like maybe 508 00:30:57,599 --> 00:30:59,440 somebody from Silicon Valley, where I'm from here. 509 00:30:59,880 --> 00:31:01,640 Speaker 1: I don't know what that was about. He's a professor 510 00:31:01,680 --> 00:31:06,680 at Stanford, so he's really into Silicon Valley where Stanford 511 00:31:06,759 --> 00:31:12,480 is located. Another economic stat out of California was Port 512 00:31:12,519 --> 00:31:15,640 of Los Angeles said that they said an all time 513 00:31:15,720 --> 00:31:20,720 record last month, they had more than one million containers 514 00:31:21,440 --> 00:31:24,480 that were unloaded at the Port of LA. That is 515 00:31:25,240 --> 00:31:28,720 a record. They said. The reason was people were simply 516 00:31:28,720 --> 00:31:32,039 trying to beat the tariffs that are coming, so they've 517 00:31:32,240 --> 00:31:34,799 ordered as much as they can before the tariffs went 518 00:31:34,839 --> 00:31:38,480 into effect. So Port of LA had a great July. 519 00:31:38,720 --> 00:31:42,680 Let's see how they do this month or next. And 520 00:31:42,759 --> 00:31:45,880 late word coming out of California this afternoon is Governor 521 00:31:45,920 --> 00:31:50,799 Newsom held a news conference and basically said that they 522 00:31:50,839 --> 00:31:55,200 are going to put on the ballot in November a 523 00:31:55,319 --> 00:32:01,240 plea to the voters of California to temper rare give 524 00:32:01,359 --> 00:32:05,359 them the power The politicians in California the power to 525 00:32:05,480 --> 00:32:09,599 draw congressional lines trying to fight what Texas is doing. 526 00:32:10,119 --> 00:32:12,119 They want to read district because they think they can 527 00:32:12,160 --> 00:32:15,039 get five more Democrats out of the state of California. 528 00:32:15,079 --> 00:32:19,920 I don't know, it's maybe maybe one or two, but 529 00:32:20,119 --> 00:32:25,440 it is. The people took the power away from the 530 00:32:25,480 --> 00:32:29,799 politicians a number of years ago of saying we don't 531 00:32:29,799 --> 00:32:33,480 want you drawing the congressional districts anymore because you've messed 532 00:32:33,480 --> 00:32:37,319 it all up. So they have an independent commission that 533 00:32:38,079 --> 00:32:40,720 I believe they put it in the state constitution. Independent 534 00:32:40,720 --> 00:32:44,839 commission has to draw the lines, not the politicians. And 535 00:32:44,960 --> 00:32:46,960 new some today said they're going to put a ballot 536 00:32:47,000 --> 00:32:49,920 measure up for the people to vote in California in 537 00:32:50,000 --> 00:32:54,319 November that will allow the give it back temporarily to 538 00:32:54,440 --> 00:33:00,119 the politicians to redraw the lines in twenty six, twenty seven, eight, 539 00:33:00,440 --> 00:33:03,599 and twenty nine, and then go back to the normal 540 00:33:03,799 --> 00:33:07,880 commission drawing of the lines in twenty thirty. So we'll 541 00:33:07,880 --> 00:33:11,160 wait till November to see what the people of California 542 00:33:11,640 --> 00:33:14,839 go for that or not. Right now, latest poll taken today, 543 00:33:15,440 --> 00:33:18,839 sixty four percent of the people in California want to 544 00:33:18,880 --> 00:33:22,440 keep the Independent Commission, thirty six percent want to give 545 00:33:22,440 --> 00:33:27,359 it back to the politician. So Governor Newsom has some 546 00:33:27,480 --> 00:33:30,519 work to do if he wants at the past on 547 00:33:30,559 --> 00:33:33,480 the market today, stock market, well, they got the news 548 00:33:33,480 --> 00:33:36,839 this morning before the market opened that inflation at the 549 00:33:36,839 --> 00:33:39,880 wholesale level was much hotter than had been expected. So 550 00:33:40,000 --> 00:33:43,839 when the market opened, the dow took a dive, went 551 00:33:43,880 --> 00:33:46,559 down about two hundred points, stayed there for most of 552 00:33:46,599 --> 00:33:50,960 the session, but worked its way back to finish down eleven. 553 00:33:51,759 --> 00:33:56,160 The Dow at forty four and nine eleven. SMP went 554 00:33:56,240 --> 00:34:00,799 up two points, NASDAK went down two points. Price of 555 00:34:00,839 --> 00:34:04,079 gold it filled twenty six dollars to thirty three point 556 00:34:04,079 --> 00:34:07,440 eighty two, and oil popped up a little bit today 557 00:34:07,480 --> 00:34:10,239 a buck and a half up to sixty four dollars 558 00:34:10,280 --> 00:34:14,480 now for one barrel of oil. All right, Tomorrow Friday, 559 00:34:15,440 --> 00:34:19,159 we've got the big meeting between President Putin and President Trump. 560 00:34:20,039 --> 00:34:22,440 We'll see how that affects the news of the day. 561 00:34:22,480 --> 00:34:25,360 In the meantime, have yourself a wonderful rest of your 562 00:34:25,400 --> 00:34:27,119 day to day. We'll see you tomorrow.