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Speaker 1: Well, here we go, Happy Friday, on this twenty ninth

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day of August, year of our Lord, twenty twenty five.

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My name is Tom Sullivan. So as we close out

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this week, close out the month of August, I hope

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you have a great plans for long Labor Day weekend.

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Where do we want to start today? We can pick up.

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We've got a lot, We've got some updates about what's

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going on with the shooting at the school in Minneapolis.

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We've got the governor of California all of a sudden

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cracking down our crime. I don't mean to laugh. I

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mean it's just so transparent that all of a sudden

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he's decided to crack down on crime. And what he's

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come up with is allows the idea. We'll get into

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that firing the Fed Governor Lisa Cook. Let's start there,

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because there was a hearing this morning ten o'clock Eastern time,

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and the judge listened to both sides, did not make

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a ruling yet that we know of. So Lisa Cook

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is still there, but she now has oh some new

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allegations against her. Yeah, the same guy, Bill Poulti, the

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head of the Federal Housing Finance Authority, has filed some

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new accusations against her, a new criminal referral to the

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Justice Department. In it, he reveals that well, he alleges

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that Lisa Cook identified a property in Cambridge, Mass right

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there in Boston as the second home on official documents,

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but then turned around and used it rendered it out,

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so it was an investment property. And the battle, well,

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the battle over her job. There's two things going on here.

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One is can the president fire a federal reserve governor?

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And that's a separate issue from did Lisa Cook do

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mortgage fraud? Now we're up to three different properties in

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which she has claimed that they were for her principal residence,

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and so this is well on this one, let me

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back up. She had one home that she claimed as

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her principal residence. Then she had another home in Georgia

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that she claimed that her principal residence. And now this

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one is in Cambridge, Mass and she's claiming it's a

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second home. All right. A second home gets a better

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interest rate, lower interest rate because it's not considered to

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be as risky as investment property. But this turned out

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to be investment property. She turned around right after she

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bought the place and put it up for Rent Kevin o'larry,

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mister wonderful, the big investor on the Shark Tank, well

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he had to weigh in on this one.

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Speaker 2: I don't really care about Lisa Cook. If she actually

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committed to Margat fraud, she's going to get whacked and

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she deserves her day in court. She's going to get it.

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What I'm worried about is changing the metric of the

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independence of the FAD that's worked for over one hundred

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years for investors all around the world. So I don't

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want any president in this one included. It's not a

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Trump issue. The executive should not have the ability to

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go into an independent board like this that has a

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role outside of the president's agenda and start whacking the

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ones he doesn't like. And that doesn't work because the

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reason the FED has been so successful globally, and I

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keep saying the way you measure success is how many

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sens of every dollar come to the United States economy

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versus every other economy on Earth. We are more than

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fifty percent. Why the FED. People trust the FED, so

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you can bash the FED, as every president has, and

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that is a sport that I love to watch. And

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the FED always says, we don't give a poopoo. We

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just don't give a poopoo. And they smile at each other,

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they yell at each other. Remember that ridiculous hard hat

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thing the other day, the FED renovation. Paul doesn't give

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a poopoo.

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Speaker 3: It doesn't matter.

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Speaker 2: He's the chair of the FED, and thank goodness he is,

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and the whole world knows that by the time this

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is over, it will still be an independent FED. It

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doesn't matter about Lisa Cook. Doesn't matter. I mean, she

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is getting roasted like a chicken on a spit right now,

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and good for her if she can stand it. But

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if she did mortgage fraud, even it was a mistake,

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and she's signed those thoughts, she screwed, period.

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Speaker 1: So the debate over her, the accusations being made, in

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the referrals being made to the Justice Department, the Justice

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Department still needs to do either actor or stop or

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do something. But Lisa Cook now has bigger problems than

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she had before. And I mean, I don't care how

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this works out with whether the President can fire a

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federal reserve governor or not, but I think if let's

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say they rule that he can't, she still needs to resign.

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She needs to step down. You cannot have a person

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of high office in the financial system in our country

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committing mortgage fraud on three to at least two maybe

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three at different occasions. So the hearing was at ten o'clock.

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Her attorney says the president can't fire her. She has not,

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in any of her her filings denied the fact that

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she claimed that these homes were her principal residents or

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in this case, a second residence. The White House simply

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says she's lied on financial documents. So the Lisa Cook's

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story is not going away. Let's go to Minneapolis for

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the update there about the mother of the shooter is

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not cooperating. You would think that she would sit down

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and let the police interview her, but no, she is

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not cooperating. This is the mom that when her son

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was seventeen and he wanted to change his name from

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Robert to Robin, she had to sign for it, and

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she happily did and on the document said that he

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feels that he is a female not a male. So

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she's I'm starry. I think underage child. The parent has

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a responsibility to at least give the child some pause.

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They're teenagers. So she has hired a criminal defense lawyer,

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John Miller. Well, yeah, I mean this goes back to

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there's been a couple of cases that where there's been

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a school shooter and the parents have been held responsible

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for not doing anything about the child, obviously with signs

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of wanting to do some sort of violent act. So

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John Miller from former NYPD has this latest update for us.

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Speaker 3: Well, a couple of things won the volume of material.

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This is something we've seen before, by the way, you know,

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if you take a look at the Nashville Covenant School shooting,

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also at a religious school, also by a former student,

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the similarities here are highly aligned. It's entirely likely that

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this offender studied that shooter extensively. But what we're learning

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now from all of this writing is only part of

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the picture, because it is literally what the shooter wanted

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us to learn, wanted us to find, wanted us to read.

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What they're doing now with the subpoenas into the computers,

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into the phones, interviews with friends and associates, attempts to

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interview family members like his mother, is to go through

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what are the layers behind the screen he created Because

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a lot of this active shooter culture is about rewriting

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your life story. They're looking for the hidden parts now

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because there's going to be a lot more to learn

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about the background. Did he give hints, did he do

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more than that? Did he tell people? Did he have

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any help? They'll go through all of that. Religious institutions

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and this is a giant underlining for this conundrum, face

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this challenge. They live and operate on the principle of

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we are open to all. It's a guiding principle. I remember.

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You might also in the days where churches were open

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twenty four hours a day, because sure, even if the

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priest wasn't there, you could still go in at midnight

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or one in the morning and pray and leave. Because

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of theft and vandalism, all that's changed. But in the

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post active shooter world, what you see is much different security.

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So that church would have been open, except once the

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mass started and the children inside, they went to their

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regular security procedures, which is they locked the outside doors

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and people could be let in through the front doors,

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but the side doors were shut down. That leads to

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the theory that the shooter had been in the church.

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He'd been there to visit, he'd done his walk through.

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This was part of the reconnaissance that the shooter conducted,

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which is likely where that detailed diagram the hand drawn

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one that she created came from. So investigators theorized that

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when the shooter got there and found the doors locked

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after blocking the exit doors for people who might try

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to flee, that she had to improvise by shooting through

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the narrow church windows and shooting in the blind, not

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able to see the targets, but spraying through the windows

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hoping to hit and hitting as many people as she

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could from that angle. But think about it, had the

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plan gone as the shooter likely planned it, we would

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be talking about something that is already unspeakably terrible being

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actually much worse.

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Speaker 2: So.

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Speaker 1: Jeddie Bans was at an event yesterday and he brought

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up the point about the fact that we prescribe more

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psychiatric medicine in this country than anywhere else in the world,

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and this debate about psychiatric medicine within the psychiatric community.

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They argue about what other some of this stuff helps

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or hurts. I've told you the story before. I had

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a guy I used to work with. He was Father

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of the Year. He was a lovely guy. He was

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a CPA and we didn't know he was on depression.

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He had depression. They changed the medicines on him, and

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he literally stabbed to death as two twin five year

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old daughters. The last thing you would ever expect from

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this guy and his family absolutely, Oh, he's in prison

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for the rest of his life. The family swears up

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one side and down the other. It was because of

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this anti depression medicine that they switched on him. He's

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not the only one. And RFK Junior, I mean you can,

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I've got all kinds of questions about him, but this

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is what he had to say about it.

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Speaker 4: At an I age were launching studies on the potential

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contribution of some of the SSRI drugs and some of

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the others, the psycheatric drugs that might be contributing to violence.

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Speaker 1: Yeah, I interviewed to psychiatrists from Cornell a few years back,

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and he was adamant about the fact that these drugs

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create more problems for people who have mental health issues,

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especially depression, than not giving them the meds at all

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would be better. But so I'm not a doctor. I

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don't know the answer. But of course, the other argument

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that always comes out this lady is the head of

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Mom's demand actions.

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Speaker 5: I think it's First of all, I just have to

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say it's absolutely ridiculous. One of the things I often

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say when people talk about mental health is sure, I

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think we need more resources when it comes to mental health,

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not just in this country. We're thinking about across this globe.

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People face crisis like this, but we yet we're the

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only place on earth that this is happening. The only

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place it's access to firearms. It's easy access to firearms, period.

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I was just in Minnesota yesterday and the community's reeling

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after the mass shooting that happened, and that was only

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a day after one that happened before with an ar

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style rifle. So this is not about mental health. This

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is about easy access to firearms and what we need

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to see as our lawmakers have courage to actually do

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what it takes to make sure that our babies don't

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have to put their bodies over each other to protect

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each other, as they had to do the other day

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at the Catholic school.

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Speaker 1: Well, in my humble opinion, I think she's just got

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her head in the sand. First of all, she said

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this is the only place that happens, No it happens

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all around the world, and the biggest fatality count of

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an attack on the school was back in the early

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nineteen hundreds some guy planted a bomb. And we know

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other countries that do not allow people to have guns,

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they have stabbings. I mean, this lady absolutely adamant that

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it's only guns, and she completely kissed off the idea

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about mental health and medicine. So we need a lot

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more work on that. I think that's the answer right

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there is to help is some of these first of all,

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mental illness. We need more investigation, more research on that.

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But I really think some of these medicines are causing

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more problems than they're than they're helping. So it's it's

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a typical argument. The fact that the church had their

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side doors locked when mass start. That's kind of interesting.

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When I was a kid growing up, when mass starts,

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there were still people streaming in long after mass started.

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They were just late all the time. So that's the

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latest from Minneapolis. We talked about it yesterday where Jensaki

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over on MS and well, what do they call it now? MS?

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Now MS? And now yeah, they've changed their NBC said

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we don't want our name associated so that it's the

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mess now. Anyway, jen Zaki has a program on there

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nobody watches, but this is where she criticized prayer. And

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there's a I could play a montage for you of

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a whole bunch of Democrats that are Michael Steele, former

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head of the of the r n C. I mean,

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he's now a big Democrat on MSNBC, and there's a

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whole slugg of them that are saying prayer is ridiculous,

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prayer doesn't work. They're mocking prayer. And the way they're

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mocking is saying, yeah, well these kids were praying at

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the time that they were shot. Well, no, they weren't

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praying about not getting shot. Were their prayers in a mass?

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In any case, there's a lot of people that are

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coming out of their shoes about the mockery of prayer.

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Scott Jennings on CNN had this to say, people of

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faith turned to prayer in times of tragedy and to

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dec their prayers, to belittle their faith, to angrily attack

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those whose faith fortifies them in their own lives, especially

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on days like today. I just don't know what to say.

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Speaker 6: My advice, offered humbly, is to shut up for a

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few hours and try not to offend anyone else as

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they grieve and recover from this tragic moment.

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Speaker 1: Yeah, I believe in a higher being. It's pretty common.

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The numbers have bounced around a little bit over the years.

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Pew Research did a survey recently where they asked whether

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or not you believe in God or a universal spirit.

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Eighty three percent said yes. It's been eighty six percent

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in another research study that was done earlier this year.

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So belief in God is trying to down just to

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be over ninety. But it's in the eighties now. And

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if you believe there's a higher spirit out there, then

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it doesn't matter what your religion is. You probably pray.

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Most of us do, all right. Fleischer, the former best

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secretary for George W. Bush, also kind of shaking his

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head on this.

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Speaker 7: You know, it just amazes me. It boggles the mind

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how the Democrats, these Democratic leaders are distancing themselves from

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so many core American institutions that make us great, starting

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with religions, starting with church, starting with faith, patriotism, supporting

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the police. They just seem to have a death wish

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politically to distance themselves from the great fundamental things that

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make America work and make us as individuals proud of

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who we are, including prayer. It just it struck me

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instantly as offensive when I heard the mayor say that

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to disparage prayer. I don't think he understands why people pray.

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They don't pray for a policy solution to a public issue.

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They pray to provide comfort, to find connection and suffering,

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to find ways of asking for help. This is what

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prayer is. It's the most individual act to connect to God.

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It is always appropriate to pray.

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Speaker 1: Yeah, literally, amen. I couldn't agree more. And I don't

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know what the answer is to mental illness, but they

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need to continue to keep working on it because that's

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what this is. The lady who said it's always the

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guns is not mental illness. No, every single case. And

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there's a lot of cases where people did not use

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guns that killed other people. But in this particular case,

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in other school shootings, yeah there's guns. The gun didn't

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pull the trigger a mentally ill person. Did you have

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to be mentally ill to even think about killing another person? So,

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since we're talking about crime, guess who has all of

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a sudden become a big anti crime guy? None? Other

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than the Governor of California, Gavin Newsom. He held a

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news conference yesterday and he had a couple of California

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Highway patrolmen around him, and this is what the governor

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had to say.

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Speaker 8: Crime is an issue and we want to tackle it.

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And we continued to do more in that space, and

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we announced and highlighted some of the expansion. What is

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not contradictory, respectfully, is that we're doing it in partnership

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with our local communities. We did in partnership with the

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Biden administration prior. We're not talking about the nationalization, the

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militarization of the Guard and militarizing the United States cities.

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Speaker 1: Well, this is fascinates obviously. He wants to run for

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president so bad. You can just see it dripping off

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of him. I don't remember him doing anything with the

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Biden administration for and I forgive me, but I was

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a highway patrolman and the Highway Patrol its primary mission

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is traffic, traffic enforcement, traffic law enforcement. They investigate accidents,

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they chase speeders and drunk drivers. That's their main focus.

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They are a state police force, but they are called

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the Highway Patrol for a reason. They are not the

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California State Police. They're actually are is some California State Police.

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Very few I know of some that work around the

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Capitol building. So I don't know what he's doing here

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with and the CHP. What's the difference this suppression team

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that he has created. What's the difference between that and

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another group of people with helmets and batons and badges

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and guns going into enforce the law. I don't this

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is going to be fascinating to watch because I don't

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know if you're going to see them do anything. But

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he had to say something. He clearly is feeling the

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pressure about crime and doing something as a political leader

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to try and reduce crime. I mean, I didn't do

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any deep research, but you do a Google search, and

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what you're going to get is when you ask what's

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California's crime rate and how does it compared to the

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rest of the nation, Google says, well, California crime rates

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are trending differently than the nation, rising a violent crime

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driven by aggravated assaults while the national crime rate is declining.

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California's violent crime rate was thirty six percent higher than

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the national average. Property crime rate twenty two percent higher

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so this, of course Gavin Newsom has to do something.

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He's got a bad record. That's just one of his

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bad records. Oh and one more thing about California. There

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was a proposition they called it Proposition thirty six. It

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was passed by the voters last year, and what it

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did was reversed what was previously the law in California

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where you could basically do anything you want and you

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wouldn't be arrested, and if you got arrested, there was

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no cash bail. A lot of felonies were turned into misdemeanors,

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so crime took off. Crime was rampant. Guess who campaigned

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against this Proposition thirty six. It was an anti crime

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piece of legislation that they wanted to make it so

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that lots of crimes would once again become felonies. Lots

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of people would not be turned out on the streets.

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They had to stay in jail and post a bail

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at the very least, And so it was very much

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an anti crime initiative passed by the citizens of California.

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It passed seventy some percent of the people of seventy

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percent of of the people California can't agree on whether

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it's day or night, but seventy some percent of the

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people in California voted for this proposition to get tough

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on crime. And the guy who was campaigning against that

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was none other than Gavin Newsom. So he has a

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lot of baggage that's going to come out when he

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really kicks into gear on a campaign. And speaking of

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politics and Democrats, they just wrapped up their their summer camp,

359
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as they called it. They had a big pow wow.

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And speaking of pow wow, they started off their big

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convention apologizing to Native Americans about the fact that we

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live on what used to be owned by tribes, and

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it's a worthy topic. But James Carville absolutely is going

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nuts because he goes, you can talk about the fact

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that we did that to Native Americans and we took

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their land, we live on it now, and all these

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other terrible things that we did. But he's saying, you

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really should focus on winning elections more than anything else

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you want to come up with.

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Speaker 9: Lady, you're right that land, what we did to Native

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Americans is really You've been well documented and it is

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a said part of our nation says, why are you

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bringing this up to an election Okay, this is an

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election and the d n C is not the place

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to discuss this. Understand this. The DNC does not exist

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to right wrongs. Please stop this. In the name of

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a just merciful God. What is Ken Martin doing doing that? Yo,

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you don't happen. One job Ken is to win. That

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has nothing to do with this. You're supposed to try

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to win elections.

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Speaker 1: So Carvel's going crazy and there's Ken Martin. He's the

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new head of the DNC, and Carvel's right, your job

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is only one thing, win elections. And they're going around

384
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trying to write wrongs and say they're sorry for this

385
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and everything else. He's going focus, focus, focus, Focus. In

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addition to trying to write wrongs and talk about Native

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American land and everything else, they also spent some time

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working on the words for a new cheer for Democrats,

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and I have it for you. I won't sing it,

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but it's a song. It's a fight song. It's d

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e MS. We Rise Stronger together, Blue Skies, lift your voice.

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We're bold and true. Onward Democrats, We Shine Blue. So

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that was the song that they came up with for Democrats,

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All you good Democrats. I don't know if there's a

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test on this. But Ari Fleischer even thought it was

396
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not so cute.

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Speaker 7: Yeah, I want to cute little Didley. I tried to

398
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listen to it. I tried to find it so I

399
00:25:59,200 --> 00:26:01,680
could see how it's sounded, and I couldn't find it.

400
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So I'm just stuck with the text of it. Doesn't

401
00:26:04,119 --> 00:26:07,759
sound like much, But Carvel is onto the bigger issue again.

402
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The American people care about their economics. They care about

403
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putting food on the table for their kids, affording a vacation,

404
00:26:14,319 --> 00:26:17,440
making a good living, and retiring with a pension. And

405
00:26:17,480 --> 00:26:22,039
the Democrats are off on these tangents beginning meetings with

406
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this land acknowledgment. Does that solve anything? Do anything? Does

407
00:26:25,079 --> 00:26:28,640
it get you in touch with anybody? And men competing

408
00:26:28,680 --> 00:26:32,000
as women in sports, demeaning religion. They need to have

409
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a fundamental re evaluation of who they are and what

410
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they believe because the things that energize them are fringe.

411
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And that's the problem with the modern day Democratic Party.

412
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It's lost its touch with the mainstream.

413
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Speaker 1: He's right, the things that motivate them seem to be

414
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fringe topics. Harry Enton, the statistician, I'm not sure if

415
00:26:54,000 --> 00:26:56,559
I plagued this for you before or not. But he

416
00:26:57,240 --> 00:26:59,920
talks about the status of the Democrat Party.

417
00:27:00,079 --> 00:27:03,119
Speaker 10: The Democratic brand right now has about the appeal with

418
00:27:03,200 --> 00:27:06,720
the American voter as the cracker barrel rebrand has with

419
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the American consumers. Bad, bad, bad. What are you doing,

420
00:27:10,960 --> 00:27:13,319
Oh my goodness, gracious, what are we talking about here?

421
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In terms of big party registration changes in the key

422
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swing states. Let's look at the key for swing states

423
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that in fact do keep tract of registration by party. Look,

424
00:27:22,359 --> 00:27:24,799
the Republican Party is in their best position at this

425
00:27:24,880 --> 00:27:28,160
point in the cycle since at least two thousand and five,

426
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and all four of these key battleground states. We go

427
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out to the southwest, Arizona, how about Nevada. Republicans haven't

428
00:27:35,160 --> 00:27:38,720
done this well since two thousand and five. Oh my goodness, Gracia,

429
00:27:39,039 --> 00:27:41,880
at this point of cycle, North Carolina, I couldn't find

430
00:27:41,880 --> 00:27:44,160
a point at which Republicans were doing better at this

431
00:27:44,240 --> 00:27:44,880
point in the cycle.

432
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Speaker 3: It's at least this century.

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Speaker 10: It probably goes way back in the last century, and

434
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Pennsylvania very similar. Republicans doing better at this point than

435
00:27:52,079 --> 00:27:55,680
at any point at any point this century, at least

436
00:27:55,720 --> 00:27:58,240
as far as I could find. Now what types of

437
00:27:58,359 --> 00:28:01,319
gains are we talking about here for the Republican Party. Well,

438
00:28:01,400 --> 00:28:04,319
let's compare it to this point during their first Trump administration,

439
00:28:04,599 --> 00:28:06,640
all the way back in twenty seventeen. Look at this,

440
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the Republican Party gains in party registration compared to this

441
00:28:09,880 --> 00:28:13,039
point back in twenty seventeen during the Trump first administration.

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In Arizona, you got a Republican gain of three points. Okay,

443
00:28:16,559 --> 00:28:18,960
how about Nevada. Up the hill we go, even though

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we're sticking in the Southwest, a gain of six points.

445
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How about again we come to the east coast North Carolina,

446
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a gain of eight points for the Republicans. And in

447
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the Keystone State, in the Commonwealth of Pennsylvania, again we're

448
00:28:29,880 --> 00:28:33,119
talking about a gain of eight points. My goodness, gracious

449
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for Republicans. They are converting old former Democrats to their

450
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side of the ledger as well as picking up new voters,

451
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registering new voters, and it absolutely paid off for them

452
00:28:43,319 --> 00:28:47,160
back in the twenty twenty four election. Now, of course,

453
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Donald Trump has been president since January? Are there any

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00:28:50,400 --> 00:28:53,319
bright spots for Democrats? Have they picked up any ground

455
00:28:53,559 --> 00:28:57,599
since January one? In terms of party registration? Ah ah, non,

456
00:28:57,680 --> 00:29:00,920
the these key swing states or key swing states. What

457
00:29:00,920 --> 00:29:04,200
are we talking about? Party registration margin gains since January one,

458
00:29:04,240 --> 00:29:07,640
twenty twenty five. Which party is gained in Arizona the GOP?

459
00:29:07,960 --> 00:29:12,039
How about Nevada the GOP? North Carolina the GOP? How

460
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about in Pennsylvania. We'll make it four for four the GOP.

461
00:29:15,680 --> 00:29:18,240
The bottom line is this, when it comes to party registration,

462
00:29:18,319 --> 00:29:22,079
Republicans have made massive gains compared to eight years ago.

463
00:29:22,279 --> 00:29:25,039
They are in their best position in these key four

464
00:29:25,079 --> 00:29:28,319
swing states dating back at least twenty years. You have

465
00:29:28,359 --> 00:29:30,079
to go back at least twenty years at least in

466
00:29:30,079 --> 00:29:33,279
the case Nevada, longer in North Carolina and Pennsylvania. So

467
00:29:33,440 --> 00:29:35,799
Republicans looking pretty gosh darn good at least when it

468
00:29:35,839 --> 00:29:38,599
comes to party registration. And we'll see what happens down

469
00:29:38,599 --> 00:29:40,240
the road. But at this point, as I said at

470
00:29:40,240 --> 00:29:43,039
the beginning, the Democratic brand is about as good a

471
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position as the Cracker Bower rebrand.

472
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Speaker 6: It is bad, bad, bad for the Democrats. Back to you, yeah,

473
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it is bad, bad, bad, But we'll see what happens.

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Is a long way before midterms in twenty twenty six,

475
00:29:57,920 --> 00:30:01,359
we got a lot of economic news out today, and

476
00:30:01,759 --> 00:30:04,680
let me just share this with you first of all,

477
00:30:04,720 --> 00:30:08,319
because Labor Day weekend, Triple A always comes out with

478
00:30:08,359 --> 00:30:12,519
their gas prices. People are on the road to see somebody,

479
00:30:12,599 --> 00:30:15,799
go to the beach, whatever it might be. Average price

480
00:30:15,920 --> 00:30:18,200
of a gallon of gasoline in the United States is

481
00:30:18,240 --> 00:30:23,119
now three dollars and fifteen cents. That's the lowest it's

482
00:30:23,160 --> 00:30:26,880
been since twenty twenty, and that was because of the pandemic.

483
00:30:26,960 --> 00:30:31,519
The price is absolutely sunk. There's fourteen states out there

484
00:30:32,039 --> 00:30:35,720
with a two in front of their gallon cost two

485
00:30:35,799 --> 00:30:41,599
dollars in something. US oil production is at an all

486
00:30:41,680 --> 00:30:48,319
time high. The places where people want to travel this weekend.

487
00:30:48,400 --> 00:30:52,960
Number one place for travel destinations is Seattle, then Orlando,

488
00:30:54,480 --> 00:30:58,920
New York, Boston, and Anchorage. Quite a variety.

489
00:30:59,599 --> 00:31:01,519
Speaker 1: If you're going if you want to travel overseas, I

490
00:31:01,519 --> 00:31:04,279
don't know you go overseas for the weekend. I actually

491
00:31:04,319 --> 00:31:07,519
knew a lady who did that one time. Anyway, the

492
00:31:07,640 --> 00:31:11,720
top place isn't all that far away. It's Vancouver. Then

493
00:31:12,000 --> 00:31:16,960
after that Room, Dublin, London, and Paris. If you're going

494
00:31:17,000 --> 00:31:20,160
to go to Rome, Dublin, London Repairs. When'd you want

495
00:31:20,160 --> 00:31:24,400
to stay more than three days, But that's what people

496
00:31:24,440 --> 00:31:28,839
are doing. Our GDP gross Domestic product, broadest measure of

497
00:31:28,880 --> 00:31:34,240
the economy. This is the second look at it from

498
00:31:34,359 --> 00:31:39,000
the second quarter, and it's revised up just a little bit.

499
00:31:39,319 --> 00:31:42,519
Growth was three point three percent originally three point one,

500
00:31:42,599 --> 00:31:46,079
now is three point three. Anything above three usually adds

501
00:31:46,119 --> 00:31:49,759
to job creation, so it's it's a good number. And

502
00:31:51,000 --> 00:31:55,279
mortgage rates. Speaking of mortgages, wonder if Lisa Cook listening,

503
00:31:56,119 --> 00:31:59,720
mortgage rates are down to a ten month low, they

504
00:31:59,759 --> 00:32:04,319
fall and down. The six point five six percent is

505
00:32:04,359 --> 00:32:08,759
the average mortgage rate for a thirty year fixed on

506
00:32:09,000 --> 00:32:13,240
a single family home. So rates are a little bit better.

507
00:32:15,000 --> 00:32:18,680
Gas price is a little bit better. On the overall economy,

508
00:32:18,720 --> 00:32:23,960
personal income was up four tenths, just exactly ass estimated.

509
00:32:24,480 --> 00:32:29,400
Consumer spending was up five tenths, So we're spending more

510
00:32:29,680 --> 00:32:36,079
than our income by a small margin. The prices of

511
00:32:36,200 --> 00:32:40,920
things that we're buying for ourselves, the personal consumption expenditure,

512
00:32:42,160 --> 00:32:44,440
things that we buy, not just some index, but this

513
00:32:44,519 --> 00:32:46,960
is an index that shows a price is up two

514
00:32:47,000 --> 00:32:50,240
point six percent year over year. So if your income

515
00:32:50,359 --> 00:32:54,720
is up four something percent and you're spending more than

516
00:32:54,720 --> 00:32:58,359
your income, but the prices are up less than your

517
00:32:58,680 --> 00:33:03,200
than in your income is up higher than the inflation

518
00:33:03,400 --> 00:33:08,039
rate out there, So that's good news. Trade deficit though,

519
00:33:08,119 --> 00:33:11,160
for the month of July just in and as much.

520
00:33:11,240 --> 00:33:15,119
With all the tariffs and everything else, some have kicked in,

521
00:33:15,559 --> 00:33:19,119
but there's a lot that hasn't. But the trade deficit

522
00:33:19,480 --> 00:33:22,720
was up twenty two percent in the month of July.

523
00:33:23,440 --> 00:33:25,720
We are running a trade deficit with the rest of

524
00:33:25,759 --> 00:33:29,720
the world. They buy less. We buy less of their

525
00:33:29,720 --> 00:33:35,359
stuff than they buy of ours. One hundred three billion dollars. Yeah,

526
00:33:35,400 --> 00:33:38,720
we're upside down by one hundred three billion dollars. That's

527
00:33:38,880 --> 00:33:42,119
up from eighty nine billion, which was the estimate. Our

528
00:33:42,240 --> 00:33:48,680
imports we bought from other countries two hundred and eighty

529
00:33:48,799 --> 00:33:52,279
one billion dollars. The reason why that number was so

530
00:33:52,400 --> 00:33:58,200
big was obviously a surge ahead of the tariff increases

531
00:33:58,240 --> 00:34:01,319
that are still kicking in. So our imports were two

532
00:34:01,440 --> 00:34:05,519
hundred and eighty one billion, our exports one hundred and

533
00:34:05,519 --> 00:34:08,599
seventy eight billion. That was down a little bit. So

534
00:34:09,159 --> 00:34:14,599
it's we're still buying like crazy foreign foreign goods Wall

535
00:34:14,639 --> 00:34:20,039
Street today. Let me take a look now, backed off

536
00:34:20,079 --> 00:34:23,800
a little bit after the record that set yesterday. Dow

537
00:34:23,960 --> 00:34:28,719
Jones Industrials down ninety two to forty five thousand and five,

538
00:34:28,840 --> 00:34:33,559
forty four SMP down forty one, NASDACK down two hundred

539
00:34:33,559 --> 00:34:36,400
and forty nine. The price of goal went up forty

540
00:34:36,440 --> 00:34:40,159
one dollars to thirty five point fifteen, and oil prices

541
00:34:40,199 --> 00:34:44,400
fell part of a dollar is now at just under

542
00:34:44,480 --> 00:34:49,159
sixty four dollars for one barrel of oil. Have yourself

543
00:34:49,360 --> 00:34:53,719
a wonderful Labor Day weekend. We'll be back next week.

544
00:34:53,800 --> 00:34:55,239
We hope to see you then.

545
00:35:02,519 --> 00:35:03,000
Speaker 8: Also

