WEBVTT 1 00:00:01.000 --> 00:00:02.600 It's Nightside with Dan Ray. 2 00:00:03.279 --> 00:00:06.320 I'm telling you easy Boston's Radio. 3 00:00:07.320 --> 00:00:10.800 Willa was an ugly day on Wall Street today. It 4 00:00:11.039 --> 00:00:14.480 just was an ugly day. There's just no way to 5 00:00:14.560 --> 00:00:16.679 look at it. The stock market has been up and 6 00:00:16.719 --> 00:00:20.519 down for the last I don't know, at least the 7 00:00:20.600 --> 00:00:24.839 last three or four weeks, has had some big days, 8 00:00:25.839 --> 00:00:28.440 but generally those are recovery days, and then the next 9 00:00:28.480 --> 00:00:31.239 day it gets worse. Today was the worst on the 10 00:00:31.320 --> 00:00:34.920 dal Jones was down two point zero eight percent, let's 11 00:00:34.960 --> 00:00:38.159 just call it two percent, the NASDAC down and even 12 00:00:38.240 --> 00:00:41.439 four percent. That's what they call the tech heavy at 13 00:00:41.640 --> 00:00:44.640 S and P five hundred down two point seven percent. 14 00:00:44.719 --> 00:00:49.000 So I don't know how far we have to go 15 00:00:49.079 --> 00:00:51.920 back to find a worst day at the stock market. 16 00:00:52.159 --> 00:00:56.719 But the irony is that whatever was going to happen 17 00:00:56.759 --> 00:01:03.439 today probably became worse because of a couple of questions 18 00:01:03.479 --> 00:01:08.040 that the President dealt with yesterday. He was on one 19 00:01:08.079 --> 00:01:12.599 of the Sunday morning talk shows and he was asked 20 00:01:12.599 --> 00:01:17.359 about the possibility of a recession, and you could see again, 21 00:01:17.400 --> 00:01:19.439 I don't know who prepped him for the well, it 22 00:01:19.519 --> 00:01:22.079 certainly should have anticipated that. So let me play the 23 00:01:22.159 --> 00:01:26.239 SoundBite which probably was heard around at least Wall Street. 24 00:01:26.599 --> 00:01:28.680 Cut number twenty. Rob, let's go to that. 25 00:01:29.079 --> 00:01:31.159 Got the Atlanta Federal Reserve, say we're going to have 26 00:01:31.159 --> 00:01:33.599 a contraction in the first quarter. Look, I know that 27 00:01:33.680 --> 00:01:35.040 you inherited a mess and. 28 00:01:35.680 --> 00:01:36.959 I've only been here too far. 29 00:01:37.040 --> 00:01:38.799 Are you expecting a reception this year? 30 00:01:41.359 --> 00:01:44.519 I hate to predict things like that. There is a 31 00:01:44.799 --> 00:01:48.319 period of transition because what we're doing is very big. 32 00:01:48.560 --> 00:01:51.680 We're bringing wealth back to America. That's a big thing, 33 00:01:52.480 --> 00:01:57.000 and there are always periods of it takes a little time. 34 00:01:57.920 --> 00:02:01.560 It takes a little time, but I think it should 35 00:02:01.560 --> 00:02:03.159 be great for us. I mean I think it should 36 00:02:03.200 --> 00:02:03.560 be great. 37 00:02:05.439 --> 00:02:08.759 Well, it wasn't great today, mister President, that's for sure. 38 00:02:10.319 --> 00:02:16.960 Also again, I just think the normally Trump is much 39 00:02:17.080 --> 00:02:21.439 more adept at answering questions. This is one other SoundBite 40 00:02:21.439 --> 00:02:24.240 from that interview. This is a cut number twenty one. Again, 41 00:02:24.319 --> 00:02:28.120 I think that these are the two answers that shook 42 00:02:28.199 --> 00:02:31.400 an already shaky stock market, and it may continue tomorrow. 43 00:02:31.439 --> 00:02:32.080 Cut twenty one. 44 00:02:32.120 --> 00:02:35.280 Please, Rob, before you came into the Oval office the 45 00:02:35.280 --> 00:02:38.719 first time, you were a very successful businessman, very successful 46 00:02:38.800 --> 00:02:41.439 real estate executive, and a lot of people said, oh, 47 00:02:41.520 --> 00:02:42.960 this is the business president. 48 00:02:43.280 --> 00:02:43.759 This is it. 49 00:02:43.800 --> 00:02:46.919 He's watching the stock market. He knows all about you know, 50 00:02:46.960 --> 00:02:47.719 he doesn't want the. 51 00:02:47.759 --> 00:02:48.520 Market to go down. 52 00:02:48.520 --> 00:02:51.039 And now we've got tariffs and the market has been going. 53 00:02:50.800 --> 00:02:52.759 Down, well not much. 54 00:02:52.840 --> 00:02:54.520 I mean, in all fair you. 55 00:02:54.560 --> 00:02:56.800 Said, look, we're going to have a disruption, but we're 56 00:02:56.840 --> 00:02:59.560 okay with that. Is that what you meant the stock 57 00:02:59.599 --> 00:03:02.199 market going down as the disruption? What are the disruptions 58 00:03:02.240 --> 00:03:03.080 were you alluding to? 59 00:03:03.120 --> 00:03:03.919 Look, what I have to. 60 00:03:03.840 --> 00:03:06.960 Do is build a strong country. You can't really watch 61 00:03:07.879 --> 00:03:09.919 the stock market. If you look at China, they have 62 00:03:09.960 --> 00:03:12.879 one hundred year perspective. We have a quarter who we 63 00:03:12.919 --> 00:03:16.080 go by quarters. That's true, and you can't go by that. 64 00:03:16.159 --> 00:03:18.479 You have to do what's right. What we're doing is 65 00:03:18.520 --> 00:03:20.879 we're building a tremendous foundation for the future. 66 00:03:21.000 --> 00:03:25.560 Tremendous foundation. Well, there were a lot of people who 67 00:03:25.560 --> 00:03:28.639 were watching the stock market today, I'm sure, and I 68 00:03:28.680 --> 00:03:30.919 suspect there were a lot of people who bailed out today. 69 00:03:30.960 --> 00:03:33.680 I'm not giving any any stock advice. 70 00:03:33.919 --> 00:03:34.000 But. 71 00:03:35.479 --> 00:03:38.159 If you're in there for the long term, hopefully it 72 00:03:38.199 --> 00:03:40.719 will turn around. But when he said it, well, it 73 00:03:40.719 --> 00:03:44.680 hasn't been much two percent in one day on the Dow, 74 00:03:45.919 --> 00:03:50.319 four percent in one day on Nasdaq, almost three percent 75 00:03:50.800 --> 00:03:54.560 on the S and P. I mean, we haven't seen 76 00:03:54.599 --> 00:03:57.439 a day like this in a long time, and I 77 00:03:57.479 --> 00:04:03.319 think that I don't. I mean, the futures tomorrow are 78 00:04:03.360 --> 00:04:06.560 not looking at some sort of robust rebound, that's for sure. 79 00:04:06.599 --> 00:04:10.719 The rebounds have gotten weaker every time the market has tanked. 80 00:04:10.759 --> 00:04:18.720 So the question is this is the administration going too 81 00:04:18.800 --> 00:04:25.560 fast and too furiously to harken back to an administration 82 00:04:25.639 --> 00:04:30.240 of a few a couple of terms ago, They're cutting 83 00:04:30.319 --> 00:04:33.800 everything they can find. I think that the President has 84 00:04:33.959 --> 00:04:36.560 recognized that and has slowed down a little bit on that. 85 00:04:36.920 --> 00:04:40.680 In terms of the tariffs, Canada now has a new 86 00:04:41.519 --> 00:04:44.160 leader of the Liberal Party, and by virtue of that, 87 00:04:44.879 --> 00:04:47.480 at least for a short term, a prime minister until 88 00:04:47.519 --> 00:04:51.800 an election is held. But the tariffs, we're fighting with Mexico, 89 00:04:51.920 --> 00:04:57.680 fighting with Canada, fighting with China. Doesn't sound to me 90 00:04:57.920 --> 00:05:03.759 as if Canada, Mexico or China are scared or intimidated. 91 00:05:04.800 --> 00:05:09.519 I wish I knew more about tariffs. I think that 92 00:05:10.439 --> 00:05:15.319 they have traditionally been used by folks on the other 93 00:05:15.360 --> 00:05:17.720 side of the isle, presidents on the other side of 94 00:05:17.759 --> 00:05:21.399 the isle, but he slapped him on. He's threatened more. 95 00:05:22.600 --> 00:05:26.160 He got the tariffs. China the other day said that 96 00:05:26.800 --> 00:05:29.000 they were ready for a war with the US, any 97 00:05:29.079 --> 00:05:33.319 type of war. That chilled the market one day last 98 00:05:33.360 --> 00:05:38.279 week as well. So I just would love to just 99 00:05:38.439 --> 00:05:42.920 chat about this. Are you concerned or are you not concerned? 100 00:05:44.319 --> 00:05:48.000 This has had where we are yet, We're ten days 101 00:05:48.000 --> 00:05:51.519 away from the two month mark, and I think that 102 00:05:52.279 --> 00:05:54.680 there's been a lot of action and a lot of activity, 103 00:05:54.759 --> 00:05:59.240 a lot of bluster. I haven't seen much results as yet, 104 00:05:59.399 --> 00:06:01.879 but maybe some of you have. So here are the 105 00:06:01.959 --> 00:06:04.480 numbers six one, seven, two, five, four ten thirty six 106 00:06:04.519 --> 00:06:08.759 one seven, nine, three, one, ten thirty. I thought that 107 00:06:08.839 --> 00:06:12.839 his speech to the Joint Session of Congress the other 108 00:06:12.920 --> 00:06:16.279 night was pretty effective, and I thought the Democrats looked 109 00:06:17.040 --> 00:06:21.040 pretty inept and impotent sitting there with their signs. I 110 00:06:21.079 --> 00:06:23.160 wasn't sure if they thought they were at an auction 111 00:06:23.360 --> 00:06:27.120 or not holding up their signs. But the last few 112 00:06:27.199 --> 00:06:30.519 days have been tough for the stock market by extension, 113 00:06:30.759 --> 00:06:34.319 tough for the country, and certainly tough for this administration. 114 00:06:34.680 --> 00:06:39.199 And I think that he probably couldn't say, yeah, we'll 115 00:06:39.240 --> 00:06:42.920 headed for a recession, whether he thoughts it or not. 116 00:06:43.759 --> 00:06:46.279 But I think we took a big step taught a 117 00:06:46.319 --> 00:06:50.920 reception following his somewhat evasive answer, love to get your 118 00:06:50.920 --> 00:06:53.480 reaction to it. Six one, seven, two, five, four ten 119 00:06:53.519 --> 00:06:56.600 thirty six one seven, nine three one ten thirty. Believe me, 120 00:06:56.639 --> 00:07:00.199 the stock market effects everyone. It's just not the we're 121 00:07:00.199 --> 00:07:03.480 wealthy that are in the stock market. If you are 122 00:07:03.560 --> 00:07:08.600 a union member, uh and you'r uh your four one 123 00:07:08.680 --> 00:07:12.680 k is in the stock market, or any sort of 124 00:07:12.720 --> 00:07:16.759 investment that you might have, Uh, it's affecting everyone. We'll 125 00:07:16.759 --> 00:07:19.000 be back on nightside. Let's get the phone calls going. 126 00:07:19.279 --> 00:07:23.319 Six months, seven two thirty, six, seven, nine, three, one 127 00:07:23.680 --> 00:07:26.720 ten thirty. I think we'll have a little group psychology 128 00:07:27.160 --> 00:07:29.079 for the next couple of hours and let's see where 129 00:07:29.120 --> 00:07:32.519 it leads us. Back on nightside right after this. Now 130 00:07:32.639 --> 00:07:35.720 back to Dan ray Line from the Window World Nightside 131 00:07:35.759 --> 00:07:40.319 Studios on WBZ News Radio. Go to the phone. See 132 00:07:40.319 --> 00:07:43.759 what my listeners think about the stock market today. It's 133 00:07:43.800 --> 00:07:46.160 been a rump, bumpy ride down and it was a 134 00:07:46.199 --> 00:07:50.240 big drop today. Let's go to Tom in West Virginia. Tom, 135 00:07:50.439 --> 00:07:53.000 I'm sure you get some investments in the market what 136 00:07:53.040 --> 00:07:53.519 do you think? 137 00:07:55.519 --> 00:08:01.720 Yeah, my Ira, I have an IRA. It's down seven percent. 138 00:08:04.000 --> 00:08:07.439 Am I going to sit there and cry spill milk over? No? 139 00:08:09.560 --> 00:08:11.959 And it was a couple of years ago where it 140 00:08:12.120 --> 00:08:18.079 lost almost eighteen percent. However, whatever happened during the Biden administration, 141 00:08:18.519 --> 00:08:21.480 things got better. So I'm not going to sit there 142 00:08:21.480 --> 00:08:24.639 and like, oh my god, I gotta. 143 00:08:24.000 --> 00:08:24.680 Act that money. 144 00:08:25.319 --> 00:08:28.360 No, no, no, no, but look, the worst day to 145 00:08:28.439 --> 00:08:31.800 sell is a day after a day like today. 146 00:08:31.839 --> 00:08:36.519 However, yeah, right, and you know what I'm going on here. 147 00:08:36.759 --> 00:08:39.360 There's a lot of stuff going on here. Okay, So tariffs, 148 00:08:39.440 --> 00:08:41.600 you got the car, you got all of that, go. 149 00:08:41.600 --> 00:08:47.080 Ahead, okay, So all right, So here's the point. Canada 150 00:08:48.159 --> 00:08:53.399 they pay one point three percent of their gross somatic GDP, 151 00:08:55.639 --> 00:08:58.559 and they're a member of NATO. For their defense, they're 152 00:08:58.600 --> 00:09:02.120 supposed to pay two percent. They have all kinds of 153 00:09:02.200 --> 00:09:05.519 tariffs on our goods. And what Trump is doing with tariffs? 154 00:09:06.000 --> 00:09:12.240 Listen up very closely, union members. Okay, union members. Remember 155 00:09:12.440 --> 00:09:16.159 when the af of l CIO said back in the nineties, 156 00:09:17.639 --> 00:09:23.000 fair trade not free trade. Hello, union members. 157 00:09:23.080 --> 00:09:25.240 Hello, Tom, we got it. 158 00:09:25.960 --> 00:09:27.879 No, no, all right, do be your. 159 00:09:27.799 --> 00:09:29.639 Favorite Tom, all right, don't try to like take the 160 00:09:29.679 --> 00:09:32.759 microphone away and make a speech, make a conversation. 161 00:09:32.879 --> 00:09:36.279 That's no, okay, all right, all right, But but anyway, 162 00:09:36.600 --> 00:09:39.279 the point being is what he's doing with the tariff, 163 00:09:40.120 --> 00:09:43.919 they are a negotiating tool. These tariffs are not forever. 164 00:09:44.600 --> 00:09:48.720 And what he is doing is he's basically browbeating Canada 165 00:09:49.320 --> 00:09:53.480 and Mexico. That know, you open your markets to us 166 00:09:53.519 --> 00:09:56.919 for goods that we can sell into your country, and 167 00:09:57.360 --> 00:09:59.840 the goods that you make you can sell into our 168 00:10:00.039 --> 00:10:04.360 country where they are totally tear a free. That is 169 00:10:04.440 --> 00:10:05.320 not a bad thing. 170 00:10:06.159 --> 00:10:10.919 And but Tom, Tom, let's have a conversation. Let's have 171 00:10:10.960 --> 00:10:11.639 a conversation. 172 00:10:12.000 --> 00:10:14.000 I'm having Go ahead, Hell, you know you're. 173 00:10:13.840 --> 00:10:16.039 Making a speech. You make I feel like I'm in 174 00:10:16.080 --> 00:10:16.919 a campaign rally. 175 00:10:17.120 --> 00:10:17.600 Let's make it. 176 00:10:17.639 --> 00:10:21.960 Let's have a conversation. The other day, the president of Mexico, 177 00:10:22.519 --> 00:10:27.480 I noticed, returned about twenty cartel members who they had 178 00:10:27.519 --> 00:10:32.559 in custody. Now I think the president was asked after 179 00:10:32.639 --> 00:10:36.639 that did he have a response, And I think that 180 00:10:36.759 --> 00:10:40.240 he should have taken advantage of that and said, okay, 181 00:10:40.679 --> 00:10:44.080 that's a sign of good faith. Let's let's get let's 182 00:10:44.080 --> 00:10:47.159 get a conversation going. And I think that if he 183 00:10:47.240 --> 00:10:50.519 wants to play hardball with some of these countries, I 184 00:10:50.519 --> 00:10:53.799 think that's, you know, fine, but you also have got 185 00:10:53.799 --> 00:10:57.440 to recognize when one of them says, hey, we'll do 186 00:10:57.600 --> 00:11:01.200 this or we'll do that. And I just think that sometimes, 187 00:11:01.919 --> 00:11:03.799 you know, half a loaf is better than none. So 188 00:11:04.679 --> 00:11:10.759 again I agree, will hopefully move us towards towards a 189 00:11:11.200 --> 00:11:16.159 faaroh marketplace. Okay, but this and what what? 190 00:11:18.039 --> 00:11:21.559 Okay? So what you're telling me is the Mexican president 191 00:11:22.000 --> 00:11:25.440 was a pragmatist that gave up twenty cartel members. I 192 00:11:25.480 --> 00:11:28.919 don't know how many cartel members are there, Okay? And 193 00:11:29.399 --> 00:11:34.360 do I support okay, do I support this current president 194 00:11:34.440 --> 00:11:38.840 saying the Mexican drug cartels are terrorist organization? I fully 195 00:11:38.879 --> 00:11:45.120 support that. I agree, and it is okay. So if 196 00:11:45.120 --> 00:11:47.720 I look back on my history as a union member, 197 00:11:47.799 --> 00:11:51.080 as a member of the ib E W that totally 198 00:11:51.120 --> 00:11:55.600 opposed NAFTA, what did Barack Obama say as a presidential 199 00:11:55.679 --> 00:11:58.559 candidate in two thousand and eight to a crowd at 200 00:11:58.559 --> 00:12:01.080 the a f of L c IO convention that summer, 201 00:12:01.559 --> 00:12:04.240 he said, the first thing I will do as president 202 00:12:04.639 --> 00:12:13.399 is reno renegotiate the NATA trade agreement. NAFTA destroyed manufacturing 203 00:12:13.519 --> 00:12:14.840 unions in this country. 204 00:12:15.399 --> 00:12:20.279 Might have no question about that. And Bill Clinton, thank you, 205 00:12:20.399 --> 00:12:24.000 and Newt Gingridge pardon me for interrupting, But Bill Clinton 206 00:12:24.159 --> 00:12:28.639 and new Gingrish, both Democrats and Republicans, were on board 207 00:12:28.639 --> 00:12:33.559 with that. If George Bush had been president, the Democrats 208 00:12:33.600 --> 00:12:37.559 would have risen up and stopped NAFTA. They didn't because 209 00:12:37.600 --> 00:12:40.480 they was a Democratic president and it was a disaster. 210 00:12:42.480 --> 00:12:46.559 Yes, And in need I remind you that people like 211 00:12:46.879 --> 00:12:51.360 John Curry said that if we have most favored trading 212 00:12:51.399 --> 00:12:56.320 with China, they will become more of a democracy, less 213 00:12:56.440 --> 00:12:58.120 likely to build up the military. 214 00:12:58.799 --> 00:13:01.759 Okay, all of that is true. That all of that 215 00:13:01.919 --> 00:13:02.320 is true. 216 00:13:02.399 --> 00:13:04.759 Okay, look, maybe maybe. 217 00:13:04.519 --> 00:13:09.279 Six weeks from now the market will have recovered everything, uh, 218 00:13:09.320 --> 00:13:12.200 and that that everyone has agreed on fair trade. And 219 00:13:12.240 --> 00:13:14.120 at that point, when that happened six weeks from now, 220 00:13:14.159 --> 00:13:15.679 I want you to call me back and say, Dan, 221 00:13:15.799 --> 00:13:18.840 I told you so. But I think right now, seeing 222 00:13:18.879 --> 00:13:23.159 the reaction of the market today, we are gonna have 223 00:13:23.240 --> 00:13:25.279 I think we're in for some chopping waters. That's all. 224 00:13:25.600 --> 00:13:29.039 I'm glad to get your perspective, but I got to get. 225 00:13:28.919 --> 00:13:35.360 The book, all right, But what one real quick point. Okay, 226 00:13:35.759 --> 00:13:38.799 we were told to accept mandates of electric cars. It 227 00:13:38.799 --> 00:13:42.200 didn't work, and we were laying a guilt trip on that. Okay, 228 00:13:42.399 --> 00:13:44.080 so now I'm going to lay a guilt trip on 229 00:13:44.120 --> 00:13:47.039 all the people. Have faith in Trump. I think he 230 00:13:47.159 --> 00:13:50.720 has the nation's interest at heart. Thank you to see 231 00:13:50.720 --> 00:13:50.879 what that. 232 00:13:50.960 --> 00:13:52.960 Thanks Tom, appreciate it. Let me go next to Bill 233 00:13:53.000 --> 00:13:54.960 and Danvers. Bill, you were next on nights. I get 234 00:13:55.000 --> 00:13:56.639 you here before the break at the bottom of the hour. 235 00:13:56.679 --> 00:13:58.440 Go ahead, Bill, Ye yeah, I'm not. 236 00:14:00.000 --> 00:14:03.879 Particularly ready to jump off any buildings or bridges. I mean, 237 00:14:03.919 --> 00:14:07.080 I turned fifty this week or this past week, and 238 00:14:08.080 --> 00:14:09.960 I probably got a while to go. I don't particularly 239 00:14:09.960 --> 00:14:12.559 pay attention. And the way I look at it, if 240 00:14:12.600 --> 00:14:15.960 it goes down another even ten percent, I can grab 241 00:14:16.039 --> 00:14:19.200 more and on the upswing whenever that is, I'll be 242 00:14:19.240 --> 00:14:21.440 better off, you know, dollar cost averaging. 243 00:14:21.600 --> 00:14:26.279 So whatever the fund's doing, and absolutely. 244 00:14:27.080 --> 00:14:31.960 And and you know it takes twelve to eighteen months 245 00:14:31.960 --> 00:14:33.759 to really move to your car. I think Wall Street 246 00:14:33.840 --> 00:14:37.039 maybe it's a little over. Maybe they're following the press 247 00:14:37.039 --> 00:14:40.720 and the hype, because I mean, the mother's milk of 248 00:14:40.919 --> 00:14:43.600 stocks is corporate profits. And if you look at the 249 00:14:43.679 --> 00:14:46.759 last few quarters, most of corporate America looks pretty healthy. 250 00:14:47.000 --> 00:14:50.519 Now they go a quarter or two and despites into 251 00:14:50.559 --> 00:14:54.519 their profit margins, then I can see a reason for correction, 252 00:14:54.720 --> 00:14:56.039 because again, you. 253 00:14:56.000 --> 00:14:57.480 Know, the margins on is good. 254 00:14:57.559 --> 00:15:00.759 You know, so I'll wait and see twelve day months. 255 00:15:00.799 --> 00:15:04.279 You know what would what I see happening. What I 256 00:15:04.279 --> 00:15:06.440 see happening, Bill is this morning, I'm reading my Boss 257 00:15:06.480 --> 00:15:10.000 and Globe and there's a story about some brewery in 258 00:15:10.120 --> 00:15:13.080 northern Maine that has just had the rug pulled out 259 00:15:13.120 --> 00:15:16.200 from underneath them, uh as a result of the tariffs. 260 00:15:16.240 --> 00:15:20.000 They were they were going to open up exporting their 261 00:15:20.759 --> 00:15:25.080 their beer uh to to Canada, and the rug was 262 00:15:25.080 --> 00:15:28.480 pulled out from underneath them. Bad timing, I get it, 263 00:15:29.360 --> 00:15:32.240 And it's a tough time for craft beer companies. But 264 00:15:32.480 --> 00:15:35.720 you know that the Globe and the Times, and maybe 265 00:15:35.759 --> 00:15:38.080 not so much the Washington Post anymore, but the Globe 266 00:15:38.080 --> 00:15:41.720 and the Times are going to find every every industry 267 00:15:42.240 --> 00:15:45.039 which has been is going to be hurt by the tariffs, 268 00:15:45.240 --> 00:15:48.159 and they're going to focus on them. And I just 269 00:15:48.200 --> 00:15:52.039 think that the question is is the Trump administration trying 270 00:15:52.039 --> 00:15:56.600 to do too many things too fast, too quickly and 271 00:15:56.679 --> 00:16:00.080 to a larger extent, are they biting off more that 272 00:16:00.200 --> 00:16:00.759 they can shoot? 273 00:16:02.759 --> 00:16:05.720 Well, we'll find out. I mean I'm not. I mean, 274 00:16:06.000 --> 00:16:07.519 you know, he is doing what he said he was 275 00:16:07.559 --> 00:16:12.679 going to do. And I think momentum is almost you know, 276 00:16:12.759 --> 00:16:15.200 everything to do with degree you pull back. I mean, 277 00:16:15.559 --> 00:16:17.480 the guys that do the articles aren't going to give 278 00:16:17.519 --> 00:16:20.360 any more leeway, you know, if you know, if you 279 00:16:20.679 --> 00:16:22.960 if you hesitated and you pulled back for a little bit, 280 00:16:23.080 --> 00:16:25.159 the New York Times and the Globe's still going to 281 00:16:25.279 --> 00:16:28.679 write stories. I mean, you know, and in the legacy 282 00:16:29.039 --> 00:16:29.799 papist you know. 283 00:16:29.960 --> 00:16:32.440 So yeah, no noticed. And I think I think you're 284 00:16:32.480 --> 00:16:36.720 right on that. All I'm just saying is that I 285 00:16:36.759 --> 00:16:39.720 think he pulled the leash in a little bit on 286 00:16:40.799 --> 00:16:44.240 Elon Musk and basically said we're going to start to 287 00:16:44.679 --> 00:16:49.879 use more of a scalpel than a sledgehammer. But I 288 00:16:49.960 --> 00:16:52.879 just thought he mishandled that question yesterday when I heard, 289 00:16:52.960 --> 00:16:55.080 I was actually watching that, and when he said it, 290 00:16:55.120 --> 00:16:57.519 I thought to myself, well, I really don't like to 291 00:16:57.559 --> 00:16:59.559 comment on things like that. Well you may not like 292 00:16:59.600 --> 00:17:01.279 to comment. And it had just been asked by a 293 00:17:01.279 --> 00:17:04.559 friendly reporter, a question which I think is a software question, 294 00:17:06.039 --> 00:17:06.920 and he whiffed on it. 295 00:17:08.359 --> 00:17:11.119 But you know, the thing I'm nervous about a little 296 00:17:11.160 --> 00:17:13.599 bit is, you know, you look at the job numbers 297 00:17:13.599 --> 00:17:15.839 in the last two years. Now I don't, and you 298 00:17:15.920 --> 00:17:19.039 pay attention, Dan, I'm sure you caught this. The job 299 00:17:19.119 --> 00:17:21.599 numbers come out and they say, well, two hundred thousand jobs. 300 00:17:21.480 --> 00:17:22.400 Are created this month. 301 00:17:22.839 --> 00:17:25.079 But then if you look at the months before that, 302 00:17:25.400 --> 00:17:29.799 almost every time they were revised down. Yes, so yep, 303 00:17:30.480 --> 00:17:30.720 you know. 304 00:17:30.759 --> 00:17:33.079 It wasn't I think it was. I think it was 305 00:17:33.119 --> 00:17:35.279 one fifty this month, so it wasn't. 306 00:17:35.079 --> 00:17:38.240 Even Yeah, we got yeah, but I just threw that 307 00:17:38.279 --> 00:17:38.640 out there. 308 00:17:38.880 --> 00:17:40.640 I knew this, but was I just rought it? 309 00:17:40.759 --> 00:17:43.400 You're absolutely right. Yeah. And now again a lot of 310 00:17:43.440 --> 00:17:47.960 that was happening while Biden was president, so maybe, uh, 311 00:17:48.240 --> 00:17:50.039 you know, maybe the fix was in. I don't know. 312 00:17:51.400 --> 00:17:53.839 Yeah, so I think that stuff has to be cleaned up. 313 00:17:53.880 --> 00:17:57.359 But by doing that and and straightening some of that out, 314 00:17:57.839 --> 00:18:00.000 we're gonna, you know, you're gonna you're gonna see it. 315 00:18:00.039 --> 00:18:02.799 It's like in the restaurant business, you know, and you 316 00:18:02.920 --> 00:18:06.200 uncover things that are dirty in the operation, you know, 317 00:18:06.319 --> 00:18:08.720 to get it back up and streamline things. It's uh, 318 00:18:08.920 --> 00:18:11.039 you know when new management comes in. 319 00:18:11.119 --> 00:18:11.279 You know? 320 00:18:11.920 --> 00:18:13.839 All right, Bill, I got you in before the ten 321 00:18:13.920 --> 00:18:16.880 thirty news. I appreciate you taking time. Thanks my fight. 322 00:18:17.000 --> 00:18:19.319 Talk to you so good night. Six one seven two 323 00:18:19.400 --> 00:18:21.599 five four ten thirty. That's the only line that is 324 00:18:21.640 --> 00:18:23.880 available if you're dialing right now and get you in there. 325 00:18:23.920 --> 00:18:25.720 The other lines will full up. So I will tell 326 00:18:25.720 --> 00:18:29.400 you six one seven two five four ten thirty. Did 327 00:18:29.480 --> 00:18:31.640 the stock market rattle you today? If it didn't, you 328 00:18:31.680 --> 00:18:34.000 weren't paying attention. And what does it really mean in 329 00:18:34.039 --> 00:18:35.880 the long run? Is this just a bump in the 330 00:18:35.960 --> 00:18:38.559 road or a ditch on the side of the road 331 00:18:38.799 --> 00:18:42.240 and the economy will be back tomorrow. Well I don't 332 00:18:42.240 --> 00:18:47.960 think so. But at what point is the president He 333 00:18:48.039 --> 00:18:51.279 may be thinking about the stock market tonight, but he's 334 00:18:51.279 --> 00:18:54.279 going to start to think about polls because this is 335 00:18:54.359 --> 00:18:57.640 not a president with a mandate. He's a president who 336 00:18:57.680 --> 00:19:01.359 won seventy seven to seventy five million million votes. So 337 00:19:01.440 --> 00:19:05.200 he won by a couple million votes, but it's not 338 00:19:05.240 --> 00:19:08.720 a mandate in the classic sense of the term. Back 339 00:19:08.759 --> 00:19:11.200 on Nightside, if you want to disagree, feel free bring 340 00:19:11.240 --> 00:19:14.599 it on. The ladies have been pretty quiet tonight, so 341 00:19:15.039 --> 00:19:17.359 I invite them just so they can understand that they 342 00:19:17.359 --> 00:19:19.720 have more than welcome to joining as well. They might 343 00:19:19.720 --> 00:19:22.839 be a little close. The good news last week was 344 00:19:22.880 --> 00:19:26.440 the gas prices had dropped a little bit, which was 345 00:19:26.480 --> 00:19:29.880 a pleasant surprise to me. On Sunday, there was no 346 00:19:30.519 --> 00:19:33.319 emphasis on that we'll be back on nightside after this 347 00:19:33.839 --> 00:19:39.200 news break at the bottom of the hour, You're on 348 00:19:39.400 --> 00:19:45.079 Nightside with Dan Ray on WBZ Boston's news radio. Just 349 00:19:45.119 --> 00:19:47.119 to put this in a little bit of perspective, when 350 00:19:47.160 --> 00:19:51.319 the president was elected on November fifth, twenty twenty four, 351 00:19:51.400 --> 00:19:56.319 the market was about forty two thousand, one hundred and thirteen. 352 00:19:59.200 --> 00:20:02.880 It's now just about forty two one hundred and thirteen, 353 00:20:03.000 --> 00:20:06.839 so whatever gains. And by the way, the market did 354 00:20:08.720 --> 00:20:11.079 top out, let me see if I can find out 355 00:20:11.119 --> 00:20:15.400 what date it was. It topped out on February fifth, 356 00:20:16.279 --> 00:20:21.359 the market was up to forty five thousand, so it's 357 00:20:21.440 --> 00:20:27.799 lost almost three thousand points. And well, it's virtually lost 358 00:20:27.839 --> 00:20:34.960 three thousand points off of the off of the high, 359 00:20:35.000 --> 00:20:36.640 which was just a month ago, a little over a 360 00:20:36.640 --> 00:20:45.559 month ago. So this is not going to cost him 361 00:20:45.640 --> 00:20:49.240 in the polls. Among those who don't like Donald Trump. 362 00:20:50.119 --> 00:20:53.680 It will cost him in the polls. Amongst those who 363 00:20:53.759 --> 00:20:58.480 voted for him but weren't necessarily all on board, they 364 00:20:58.640 --> 00:21:02.960 liked him as the alternate, and that's where the political 365 00:21:03.000 --> 00:21:07.720 capital tends to slip away, and for any president, that 366 00:21:07.880 --> 00:21:10.680 is a problem. Paul in Pennsylvania, Paul, you're next on nights. 367 00:21:10.720 --> 00:21:14.079 I appreciate you. You're taking the time. Go ahead, Paul, Yeah. 368 00:21:14.039 --> 00:21:17.200 Down, he's trying to wish you an earlier save Patris Stay. 369 00:21:17.759 --> 00:21:20.839 Hey. Thanks very much, Paul, if you celebrate right back 370 00:21:20.880 --> 00:21:24.440 at you, and what I wanted. 371 00:21:24.319 --> 00:21:25.640 To say it was you brought up a really good 372 00:21:25.680 --> 00:21:28.839 point about the people that voted for Trump. But Trump 373 00:21:28.960 --> 00:21:32.279 is like the first presidents Glover Cleveland, to win, lose, 374 00:21:32.359 --> 00:21:36.000 then win again. So I don't know if he I 375 00:21:36.039 --> 00:21:37.799 know he's trying to do it's best in the country. 376 00:21:37.960 --> 00:21:40.440 I know he's not necessarily were worried about the Republican 377 00:21:40.480 --> 00:21:43.039 Party and what happens in twenty twenty eight. Maybe he is. 378 00:21:43.079 --> 00:21:45.160 I don't know, but he's got to be worried. 379 00:21:45.200 --> 00:21:48.359 Well, what he's got to worry about is what happens 380 00:21:48.400 --> 00:21:52.960 in twenty twenty six, which is now about twenty months away. 381 00:21:53.480 --> 00:21:58.599 I mean the midterm elections. He's got to worry about 382 00:21:58.599 --> 00:22:02.680 a razor thin margin in the House, and he's got 383 00:22:02.319 --> 00:22:06.200 a fifty three forty seven advantage in the Senate. If 384 00:22:06.240 --> 00:22:10.200 he loses one or both of those majorities, the last 385 00:22:10.200 --> 00:22:13.880 two years of his presidency won't be a lot of fun. 386 00:22:14.559 --> 00:22:19.759 I mean, yes, I'll be then, Yeah, of course you will. 387 00:22:19.759 --> 00:22:22.039 And at that point you can forget. I mean, that 388 00:22:22.240 --> 00:22:26.079 sets the stage for the Democrats to take over in 389 00:22:26.119 --> 00:22:28.920 twenty twenty eight. I mean, the Democrats right now seem 390 00:22:29.000 --> 00:22:32.759 to be lost, but in the last week or so 391 00:22:33.279 --> 00:22:36.880 things have been very good for the Democrats, and he's 392 00:22:36.920 --> 00:22:41.960 spending political capital here and now. Maybe this will pay 393 00:22:42.000 --> 00:22:44.359 off in April and May or June and July. But 394 00:22:45.599 --> 00:22:48.799 I'm telling you, I think I don't think the end 395 00:22:48.799 --> 00:22:51.119 of the rough ride is over here. I'm not predicting 396 00:22:51.160 --> 00:22:53.720 what the market's going to do tomorrow. I would be 397 00:22:53.759 --> 00:22:57.680 a fool to do that. I'm not pulling the money 398 00:22:57.720 --> 00:22:59.440 that I have in the stock market. I'm not pulling. 399 00:22:59.519 --> 00:23:03.519 I tend to to hold. But that's not my advice. 400 00:23:03.599 --> 00:23:05.279 You people got to do what they gotta do. 401 00:23:05.440 --> 00:23:09.599