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Speaker 4: Welcome my friends to the Thursday edition of bosn E
release Rush Hour. If you would like to be part
of the program this afternoon, eight hundred eight four eight
nine two two two is how you reach us eight
hundred eight four eight nine.
Speaker 1: Two two two looking forward to here what you have
to say. If you are in panic, you are welcome
to call.
Speaker 4: The panic is widespread across certain circles of the United States.
For the record, I am not panicked. I am not
overly concerned about any of the issues that are driving
the panic. In fact, I think that in the long
run things are going to be tiketyboo some of the panic.
Wall Street Journal.
Speaker 5: I just I just.
Speaker 1: Wall Street Journal. Trump tariffs send Dow to fourteen hundred
point decline. Dollar slumps Oh no.
Speaker 4: US markets slid Thursday in their steepest decline in more
than two years, as investors grappled with fears President Trump's
new tarert plan will trigger global retaliation and hurt economic growth.
Speaker 3: Oh no.
Speaker 4: Major indexes dropped as much as five point five percent.
Speaker 1: Oh no. Stocks have lost roughly two point seven trillion
dollars in market value Thursday, on track for their largest
decline since March twenty twenty. Oh no.
Speaker 4: The dowen the Dow industrials dropped about fourteen hundred points
to US three point three percent. The tech heavy Nasdaq,
which powered the market higher for years, was down five
point five percent, led by big declines in Nvidia, Apple,
and Amazon dot Com. Oh no, Does this mean that
your Amazon package is not going to come this afternoon? No,
don't panic, my friends. Your Amazon package is still going
to get there. In fact, you could go on Amazon
right now if you want to go buy a new Apple,
go to the website, or go wherever we sellers sell
Apple stuff and go pick It's Okay, they're still around
Amazon dot Com big declines. Oh well, people gonna all
of a sudden because they are tariffs on stuff stop
going to Amazon. Is that what we're supposed to believe.
Amazon's gonna suffer because the tariffs are gonna stop people
from buying stuff that they want or in many cases,
that they want and need, so the price might go
up two or three. Is that what's going to happen?
People are gonna say, oh no, no, no, I can't
buy that widget on amazons on because the price went up.
Oh no, no, no, I can't get delivered. It's gonna
be okay, folks. Some American allies came out swinging. French
President Emanuel and Macaroon said Europe is playing retaliation against
U at the US tech firms, while Canadian Prime Minister
Mark Carney said his country will match President auto tariffs
with a twenty five percent tariff of its own.
Speaker 1: Good good.
Speaker 4: I'd like to see how many people stop buying Canadian cars.
I mean, after all the Canadian auto manufacturers, I mean
they must be what's that big Canadian car that everybody
likes to drive? Uh, Philip, No, what is it? What
is the big Canadian car that everybody likes to drive,
that very popular Canadian.
Speaker 1: Car model that.
Speaker 4: Uh ah, that one, ah yeah, that one, that one's
gonna suffer. Americans might stop buying those Canadian cars from
the big Canadian automakers if if they retaliate, and the
pougeos might suffer, and all the other French cars that look, folks,
get a handle, it's gonna be okay. We have a
lot of sound bites today, a lot of audio for you.
In fact, let us start with Ford, the Ford Auto
Company right here.
Speaker 1: Now.
Speaker 4: If anybody's panicked, it should be American automakers. So let's
just take a listen cut six to what uh the
folks over at Ford Motor Company have in line because
of all of this panic that's going.
Speaker 1: Only right for the next couple of months.
Speaker 6: We're gonna offer our customers the same deal that our
employees get. And as you say, that's worth thousands of dollars,
you come into our store, you get employee pricing. This
is kind of to call a little bit of a
time out. We've heard some some uncertainty from our customers
and we want we want them to be assured that Ford,
the most American Auto Company is going to do right
by them, as are our dealers. We make the most
cars here, we employ the most, we export the most,
and so we here at Ford, we're in a good
position to address customers concern and give them a really
great deal on a great vehicle.
Speaker 4: Okay, so I guess that's not so bad. Bush forty three,
remember him, Bush forty three. Bush forty three had a
commerce secretary. His name was Carlos Gutieties. He was on
c NBC this morning he was discussing or last night.
Either way, he was discussing the tariffs. Were the good
folks over at CNBC, and this is what Carlos Gutiedis
had to say. It's long, We're not going to listen
to the whole thing, but I may stop and start it.
But let's just get the gist of what former Commerce
Secretary Gutiedies has to say.
Speaker 6: Thanks for joining us, thank you. What do you make
of these tariffs right now?
Speaker 1: And ultimate the ultimate impact to the US economy and trade?
Speaker 7: Well, I would say, like most people, this was stronger
than what many of us have.
Speaker 1: Expected. But it's you know, it's the opening step.
Speaker 7: So I would I would assume that this will not
be in place in a month, two months, definitely not
in the back half of the year. So I'm in
the camp that this is a at the beginning of
a big negotiation. I would put these tariffs in four groups.
Number one is automobiles, and really that comes down to Mexico,
Canada and Germany. Korea and Japan don't charge tarists for
automobiles anymore. So Mexico and Canada will most likely be
addressed with the USMCA agreement that schedule for twenty six
but that will be brought forward, hopefully in the next
month or two, and that the autos will be folded
into that discussion. Germany, it's about you know, they charges
ten percent, we charge them two and a half.
Speaker 1: That could be hit.
Speaker 7: And it's not only about bringing production back, but it's
also about market access. So if Germany brings down their
tariffs and that gives US companies more access to the
German market. The second group are these reciprocal tariffs. And
this is all about negotiation. So we're going to be
hearing about tariffs for quite a while now, and the President.
Speaker 1: Has set the stage for what he loves to do.
Speaker 7: He'll be negotiating every single day for the foreseeable future,
which each one of these countries. It's interesting as we
think about is this designed for negotiation or are these permanent.
Vietnam yesterday reduced their tariff regime considerably, but the President
didn't mention it, and he still included Vietnam with some
very steep tariffs. So that tells me that he will
use what Vietnam is already intending to do to name
as a victory. And the president will be looking for victories,
and with this number of countries, I believe he will
have a slew of.
Speaker 1: Victories that he can point to.
Speaker 7: The third group is the ten percent from all countries,
and that's an interesting one. I wouldn't discard that as
being a move just to prevent supply chains from moving,
and that's an interesting one.
Speaker 1: We can return to that.
Speaker 7: The fourth one I would put is China. I wouldn't
lum China into these other groups. China is a group
on its own. China will require a very special negotiation.
It will not be a phone call to talk about autos.
That will be something more important, more consequential, and that's
hard to predict. It could be a trade deal, or
it could be something a lot bigger, but definitely bigger
than I thought. But each one has a piece, each
one has a solution. I do not believe that these
tariffs will be in place going to the second half
of the year.
Speaker 1: We'll just do it right there. So you see he's
not panicked. What is he saying. He's saying that these
are part of a negotiation. This is what Donald Trump
does and we all know this. So all of this
panic in hysteria. I didn't have time to send it in.
I saw it right before the show started. Somebody pulled
up Nancy Pelosi, and boy, she looked different in nineteen
ninety six from the well of the House of Representatives,
raging about how unfair our trade policies are with China,
how they shouldn't be admitted into the World Trade Organization,
how admitting them was a mistake, How it is definitely
her opinion that we should link trade with human rights,
but just on the trade issues. She was going off on,
trying to so the Nancy pol she back then and
the Democrats were all in favor, they say, of getting
tough with China. Now you have Donald Trump actually doing it,
addressing the trade imbalance and you have the rampant, rampant
hysteria from the left in this country, and of course
their allies.
Speaker 4: In the mainstream media. Let's take a quick break. We
have a lot more on this tariff thing. There are
other things in the news. Democrats are still having post
orgasmic tremors over Corey Booker not going to the bathroom
for a day and speaking on the Senate floor. So
I guess he's the light to them. Heavenly birthday to
day for Felipe Win from the group that was first
known as the Detroit Spinners, then many of us grew
to know and love them as simply the Spinners. Nineteen
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It's a Shame Produced written by Stevie Wonder, which was
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with Tom Bell nothing but hits and Dion Warwick and
the Spinners and we're happy you Heavenly birthday that Felipe Win.
James Golden's Thirdly with You, The Thursday edition of bus
Nerdly's Rush Hour eight hundred eight four eight.
Speaker 1: Nine to two.
Speaker 8: Rush.
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Speaker 13: James Golden, known popularly as moost nervely is this is.
Speaker 4: The rush hour with James Golden, let us turn. This
is gonna be quickly. We're not going to listen to
the whole thing. But I also want There is a
woman dynamite dynamite. Her name is uh but batcha Uga.
She was on Piers Morgan. You know what, Let's hold
that till after the break. This is a long sound bite,
but it is well worth listening to. Let's go to
c N in Panic with Pamela Brown, cut four and
check shees on with Howard Lucknick, the current commerce secretary.
Speaker 12: It's that in a few days we're about to see
prices go up at the grocery store.
Speaker 8: What do you say to those Americans?
Speaker 14: I don't think that's going to happen. The reason it's
going to happen watch No one can guarantee anything, but
that's very nice, thank you. I wish I could guarantee
whatever you'd like. But the fact is, wait, let's take
one mother.
Speaker 1: You asked me a question. Let's go through it. Okay.
Speaker 14: Our farmers are blocked from selling almost anywhere. We can't
one point four billion people in India and we can't
sell them corn.
Speaker 1: Europe won't let us sell beef.
Speaker 14: Australia won't let us sell beef.
Speaker 1: Why yeah, no, no, that's not why.
Speaker 14: It's because they want to just protect I know they
want to say, oh, what the seeds are different, right,
other people in the world are using seeds that insects
come on. This is nonsense. This is all nonsense. What
happens is they block our markets. When we open those markets,
our volumes grow, our farmers will thrive, and the price
of groceries will come down. Let Donald Trump run the
global economy. He knows what he's doing. He's been talking
about it for thirty five years.
Speaker 4: You gotta trus that's the point. He knows what he's doing,
my friends. So if you're panicked, don't be panicked. We
have a lot more to go, So don't go away.
Eight hundred and eight for eight nine to to to
keep it right here with bow. Tarriffs will hit all
US import. Price hikes for these items may surprise you.
More hysteria from the Wall Street The New York Times.
The whole front page is just like Trump fear, Trump hate.
Oh my gosh, world's coming to an end. It's terrible,
the tariffs, the tariffs. Wall Street Journal has the same
kind of hysteria going on. I don't think i've seen
their splash page look like a war hit it when
there was war.
Speaker 1: This was just like the dow. It's taking Donald Trump
is causing may everywhere. Tarriffs will hit all US imports.
Price hikes for these items may surprise you. A range
of products think cigars and engagement rings and pineapples could
all have higher price tax. What are you going to do? People?
Speaker 4: Cigar US cigar lovers might be paying more for their
tobacco experience. The US gets about sixty four percent of
US imported cigars from the Dominican Republic. When's the last
time you ever heard any mainstream Most of the time,
I thought you people hated cigars. Now they're wanting us
cigar smokers are gonna suffer.
Speaker 1: Oh hint.
Speaker 4: If you can afford to buy cigars, the price tag
is not going to bother you that much, and you
can always get the cheap ones. But cigar love, the
true cigar officionados. Please, this is what okay, this is
where it gets, folks. This is very damaging. I don't
know how we're gonna recover as the nation from this
next one. I just don't know.
Speaker 1: I don't know what.
Speaker 4: Donald Trump what he thought he was doing. But now
marriages are going to stop. Apparently it's over because marriage
proposals are going to get more and more and more
and more expensive by the day. Thank you, Orange Man bad,
Orange Man bad. Now I wanted to propose to my girl,
and now I can't or my guy or my person,
my they them. I wanted to propose to they them,
and I can't because because them THEYZIM thing is I
can't afford the ring for the them. Marriage proposals might
soon get more expensive for those looking to pop the
question with a diamond engagement ring. The US gets both
ninety two percent of imported synthetic diamonds and forty five
percent of imported cut and polished diamonds from India. The
country will soon face a twenty six percent tariff, significant
enough to hit that importers will likely want to pass
on consumers. They're gonna pass that price on, so people
are no longer gonna get in and as a result,
there will be no more marriages, and there will be
no more babies because there will be no more marriages.
We all know that everybody waits until their marriage to
have their babies, and so this thing is gonna lead
to the earth having fewer babies. And when there are
fewer babies, they're not gonna be enough workers, and it's
just gonna be a downwards spiral and the world's gonna
come to an end. Because Donald Trump raised tarists on
and there Orange Man bad population Elon. Population. Elon's trying
to take care of the population problem by himself. So
just whatever, Okay, guess what else is gonna cost more money?
And this is gonna hurt almost as much as no
more marriages. This is gonna hurt bad, bad, bad because
Orange Man did it. Orange Man, bad, bad bad Orange
Man is gonna make sure that the price of pineapples
grows goes up.
Speaker 1: Pineapples, how are you, hey? Are you gonna live with
about your pineapples?
Speaker 4: I know that you can grow them in your own
backyard if you live in Zone ten or some of
the other zone. But the US gets about eighty eight
percent of imported pineapples from Costa Rica. Goods on that
country will soon be subject to a ten percent US tariff.
So so so you might have to pay some more
money for your pineapples. And and you're not gonna be
able to have pineapples anymore.
Speaker 1: And well it's ran bad three or nine three dollars.
Well that's gonna stop people from buying pineapples. How don't
you make light of it? That nine cents makes a
damn bit of difference.
Speaker 4: People used to leave that nine cents when you go
to you know that little little coin thing when you
go to the gas station or you go to the
store and they have that little thing there for people
to donate their changes that don't want to bother carry change.
Take the nine cent out of the air and pay
for the hold on and save that nine cent and
pay if you if you're gonna be pineapple deprived. Here's
one that really hurts. And this is right in the
Wall Street Journal's wheelhouse. The cost of luxury watches is
gonna go up. I don't know how people are gonna
stand it.
Speaker 1: I don't know.
Speaker 4: Gifted of loved one with the fancy watch made in
Swonzerland so soon costs a lot more the US realies
on the country from another ninety percent of its imported
precious metal risk watches. All Swiss goods will soon be
tapped with a thirty one percent test. So if you're
in the market and you are gonna pay one hundred
and fifty thousand bucks for that Roluxe to give to somebody,
it might cost you more, and that just might stop
you from giving that person the rolux You might have
to give them a damn time X because you can't
afford the rolex anymore. So you're gonna give them a TIMEX.
You're gonna go give them a Bulevar, a bull ofv,
a watch or maybe even a Swatch. A Swatch. Do
people even wear watches anything? I mean in that Petit
Philip or Philippe Petite. I don't know, because I've never
had one. Probably believe we'll never have one. They used
to cost you half a million bucks. It might cost more,
and that's gonna stop you. It's like, damn it, I
was ready to spend a half a million dollars on
a watch, but now now I'm not gonna spend half
a million plus another ten to fifteen percent. Nope, I'm
not gonna do it. They're not worth that money. So
the luxury, the luxury watch market is gonna come to
a grinding halt. Daging orange Man cast shoes are gonna
cost more, according to According to the Wall Street tariff
costs might soon be coming to your trail mix. Eighty
nine percent of the imported castshoes we get.
Speaker 1: It from Vietnam. Well, Vietnam just be hurting. The last
report just lowered their tariff, so that's not really going
to hurt Somebody. Please tell the Wall Street Journal, because
they mistakenly have people now all up and uproar over
the price of cashoes and it's not gonna really be effective.
We just hurt that.
Speaker 4: Anyway, here's the biggie, save the best for last. I
don't know, people, all of you Trump supporters say you
freaking just just you how you did this to us?
You did it to everybody.
Speaker 1: You did it. You did it, and there's no taking
it back. You did it big, and you did it bad.
Speaker 4: Now, ladies and gentlemen, the cost of your Christmas lights
may go up this year. Cambodia, you see, is a
huge supplier of supplier of Christmas lights to the United States.
But you didn't even know that. You're going to home depot,
You going to Loew's. You go there, you pick up
your lights. You never look to see maide in Cambodia.
Didn't we bomb them? That was Nixon? Yeah, secretly, it
wasn't part of policy. Nixon got a little hot water
from that. That was back when there, before you were born.
We bombed the crap out of them.
Speaker 1: Anyway.
Speaker 4: Sixty six percent of imported LED Christmas lights and seventy
four four percent of imported non LED come from Cambodia. Cambodia,
they're gonna be a forty nine percent tariffs. So you
know what happens. Now, there're gonna be no more Christmas lights.
You're gonna have to go old school and just get
those little candle things that go into Christmas tree. You're
gonna put the candles on your Christmas tree. And of
course candles and trees don't mix, and so you're gonna
have house fires and then half of America's gonna be
wiped out and fire this time.
Speaker 1: That was what was predicted. Anyway, no more floods, fire
this time, and you're gonna be burned up to a
Chris because the Orange Man insisted on tariffs sicking.
Speaker 4: Meanwhile, we've got people defending this, like this woman, former
Democrat batcha ungar side of Dawn. She was on Piers
Morgan and she has a message for these Wall Street
types like the Wall Street Journal cause and anybody panic
in fear because of the price of pineapples is going up.
You won't have luxury watches. People are gonna stop getting
married because they can't afford to get engaged. You won't
be able to get cast shoes at a decent price.
You're gonna have to have trail mix without cast shoes
in them. They're probably gonna put some red number forty
or something in the trail mix. Now, just ruin everything,
ruining everything, and he is botcha.
Speaker 13: What I find so frustrating about the conversation around tariffs.
Speaker 8: Is that we all agree on the problem.
Speaker 13: We all agree that the de industrialization of America led
to the downward mobility of the American working class, deaths
of despair, people working multiple jobs and.
Speaker 8: Not being able to afford the American dream.
Speaker 13: We all agree that it is deeply unfair for the
American middle class to be bearing the burden of unfair
tariffs from other countries.
Speaker 8: We all agree that.
Speaker 13: It is great for the president to have leverage in
order to demand reasonable things like that country stop allowing
fentanyl to murder one hundred thousand Americans every year, and
that Mexico do its part to police its own border.
Speaker 8: And yet when somebody has the courage to show up
and stay at Wall Street, screw you. I am waging war.
Speaker 13: I'm waging class warfare on behalf of the American working class.
And you elites and Wall Street, you do what you
need to do because I'm not going to stop fighting
for the American working class.
Speaker 8: Suddenly everybody is sitting around going, oh.
Speaker 13: No, the stock market, Yeah, the stock market looks like
that because the rich are punishing Trump for siding with
the neglected and humiliated American working class over them.
Speaker 8: We have already seen these tariffs work pierce. The number
of people crossing the southern border is at.
Speaker 13: Zero, Fentanyl is at record lows for the last ten years.
We have already seen one point two trillion dollars in
manufacturing invested in this country since January twenty first, So
they have already worked.
Speaker 8: Now how long is.
Speaker 13: Wallstreet going to keep trying to punish this president for
standing the American working class. I don't know, but I
can tell you that the view from the street is
people cannot believe that there is a president who is
working for them, who is.
Speaker 8: Putting them first and telling Wall Street.
Speaker 13: To go screw itself wall Street, which is pick the
Democrats for the last three election cycles in a row.
That's what the real story is.
Speaker 1: Here.
Speaker 8: Can compass to the survey of just GOP voters.
Speaker 13: We know now that the majority of Americans who make
under one hundred thousand dollars a year now vote for
the Republican Party. So they were that was almost a
means tested poll, and they found that seventy seven percent
of GOP voters, the working class, not the elites, are
said that when they were asked, they said they would
be willing to pay higher higher prices if it meant
bringing back manufacturing, because of course, in their mind they
are going to be the beneficiaries of those manufacturing jobs.
About Canada, a lot of people are asking why Canada.
We love Canada, Canada, our friends, why wage this, you know,
tariff we're on Canada, And of course the answer are simple.
Canada and Mexico are the back door to the American
economy because we have this trade deal with them, the USMCA.
So if there are no tariffs on China, if Canada
and Mexico do not match our tariffs on China, China
simply builds car manufacturing plants in Canada and in Mexico,
which they have already done, and they use that in
order to get tariff free cars into the American market,
which is exactly what President Trump is trying to get
away from. So what he wants from them is for
them to close that back door. And I just want
to emphasize again, you know, back in the seventies when
the majority of the GDP in America was in the
middle class, right, that's kind of like the golden era
that we look back to of when the economy was
really healthy and working class people felt that they could
afford a middle class life. Twenty five percent of our
economy was in manufacturing.
Speaker 4: And Donald Trump is trying to bring it back. Ladies
and gentlemen, this woman is brilliant. Batcha Ohgart started going,
we got to take a quick break here, James Golden,
your calls coming up, perhaps maybe on this day nineteen
seventy one, that golden era she was talking about, the
Temptations had their second number one hit. You know it
as soon as you hear it. This is Eddie Kendricks
in the lead, right before they tossed him out of
the group. And then Eddie and David David was already
gone by this point, David Ruffin they would team up
and do their own thing. But anyway, this is Temptations
at their best imagination. James Goldan is sternly with you.
Thursday edition of Bounds Rush.
Speaker 14: Hours is the Rush Hour with James Golden.
Speaker 1: Yeah, stay in your lane. Oh it's time.
Speaker 3: James Golden aka bos Nerdly presents Rabbit.
Speaker 4: Phones and right before we get to our first call,
I gotta give you a line. Princess Diana just sent
me the headline from Axios. It's the end of the world,
the world's economic order.
Speaker 1: As we know it. That's actually, folks, these people are
going nuts.
Speaker 4: It's just it's the end of the world's economic world
order as we know it, Princess Diadic Wall Street hardest
hit you. Rush insiders will know what that reference is to.
That's great. And Ronda Rohonda Shrock had a great She
compares Trump to like a symphony conductor. You hear the banging,
the crashing, the beautiful, it all turns out sweet. It's
like music that that's being made. So it's just wonderful.
I'm loving this. But let's see what people have to say.
Judith in Brooklyn, Europe. First, how are you?
Speaker 5: Hi?
Speaker 13: Hi?
Speaker 5: James, I'm fine, and you really cracked me up. You're
real funny. Listen, I sort of something I kind of
trying to connect the doctor little Trump unleashes terror. I'm thinking,
you know, to make things fairer. Trade in the world right,
and they're all up in arms. But China unleashed COVID
and and they ruined economy, They ruined businesses, They murdered
millions of people worldwide. That nobody said anything.
Speaker 4: I don't hear you know they wait, wait a minute,
stop waight stop weight stop weight rewind say that one
more time.
Speaker 5: Uh well, Trump unleashes tariffs to make things very the world.
China unleashs COVID, They ruined economies, ruined businesses, murdered people,
got away with it. No instead of words, acts, Joson
and Wall Street and nobody. It's just so, it's so pathetic.
Speaker 4: Judith, you are so brilliant. Thank you for that contribution.
Let us go to Phil in New Jersey. Phil, how
are you.
Speaker 1: Great?
Speaker 15: James always loved the show. Just to remind all your listeners,
you can still buy a Rolex Times Square for twenty
bucks and it accomplishes the exact same thing. Might not
tell time, but people think you're rich.
Speaker 1: Oh brilliant. Thanks, thank you much. Bob and Connecticut you
are up next.
Speaker 16: Mister Snerdley. These the Wall Street's going crazy because they
are afraid of the profits. That just says that the
US companies registered on the New York Stocks Exchange are
making all their money from China or India or wherever.
Speaker 4: Uhha, Well, thank you, Bob. We gotta leave it at
that point, brilliant point. We gotta go. May God blessed
protect you and every single one of you, your family's,
your loved ones, loving gratitude for being here with you,
allowing me to be with you.
Speaker 1: That's okay. I gotta go till tomorrow, my friends, I
bid you, I do, God willing. We're back.
Speaker 4: In the meantime, have yourself a lovely afternoon. And as
I said, God willing, we will see you tomorrow.
Speaker 1: Bye.