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Speaker 1: And Hi, how are you welcome? Welcome, walk and all

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do the Big podcast. It is Thursday. Today is the

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fourth day of September, year of Our Lord twenty twenty five.

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My name is Tom Sullivan. And hell, it was not

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your normal political food fight in the capital today. RFK

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Junior was there and he went before. It was the

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Senate Finance Committee, but they wanted to talk to him

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about everything going on at Health and Human Services for

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which he's in charge. And this is this is I

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told you the other day.

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Speaker 2: This is.

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Speaker 1: It's very confusing because you've got people doctors, a lot

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of doctors that is, they're saying that that what Kennedy

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is doing is just dangerous to the health of Americans.

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He doesn't know what he's doing. He's a conspiracy kook.

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He's not a doctor. And so you got all these

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doctors that are saying we know what to do and

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he doesn't. And then you've got RFK Jr. That comes

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out and says, no, the people that have been in

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charge of the health system in our country have politicized

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it and have lied to the American people. So you

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go back. CDC in vaccines were really kind of the

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focus of all of this today. Think about when the

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pandemic hit, I mean before the pandemic hit. Had you

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ever I think I may have heard of the CDC

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because they had kind of a weird name, but I

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never interacted in any way with them. They weren't in

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the news. But once the pandemic came along, all of

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a sudden, the CDC was everything. And they came out

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with a COVID test early on, I mean very early,

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and they spent these COVID test kits around all over

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the country, lots of I don't know how much they spent,

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and a couple of weeks into it, they went, oh,

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never mind, they don't work. So they got off to

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a bad start. And then they told us lots of

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things that turned out not to be true. And I

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still to this day, I will tell you, I look

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at the COVID illness, the COVID virus. They're still out there.

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There are still people getting COVID. There's still a number

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of people suffering from long COVID. But I think the

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doctors are working diligently trying to figure out how this

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virus works and how to put it away. But it

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hasn't gone away. And I don't think they really know

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what to do. Now they've come up with some things

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like pax slovid, So if you do come down with COVID,

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you take pax slovaed and it reduces the danger of

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it killing you. And there's lots of things that will

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help if you get COVID. But I still think that

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they are still in the woods trying to figure out

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exactly how this thing works. And then the question comes

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down to the vaccines. Do you get an annual vaccine

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like you're supposed to, They recommend a flu shot. Then

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you've got the schools where I mean when I was

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a child, I remember my mother had to bring my

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shot record over before they, you know, the start of

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school this time of the year, the kids all have

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to show their shot records or they won't be allowed

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in school because they don't want a bunch of kids

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in there that can have measles or whatever it might be.

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So it's a lot and the bottom line out of

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though you'll hear it was it was embarrassing. And this

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goes back to my attitude about our government. This this

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would not happen in a well run private sector company.

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They act like babies. They act like uneducated children. They

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squabble out each other. It was a food fight. These

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are senators versus this Secretary of Health and Human Services,

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and I don't know which side you believe, but it

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really has come down to the point where I don't

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know who to believe. I want to believe doctor, but then,

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like I said, CDC has given us a bunch of

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a bunch of false information in the past, so how

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do you believe them? And then RFK just came in

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and fired all the people on the vaccine Committee and

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hired a bunch of new people. And the person that's

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supposed to run the CDC was this woman doctor who

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was went through hired a month ago, and then they

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fired her three weeks later. I'm going, that doesn't look

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like a manager knows what he or she is doing.

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In this case, what the what rfk's doing. Why would

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you fire somebody three weeks after you hire them. I

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don't put it on the employee, I put it on

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the manager. They should be a better manager. They shouldn't

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have hired her in the first place. If they if

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she if they didn't like her, they should have decided

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they should have asked her the questions three weeks ago

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that they asked lately, and because of the wrong answers,

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they said, you're out of here. So they're just it's

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who do you believe? RFK. I'm sorry. I think the

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guy's weird and he's got a bunch of four years

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conspiracy stuff, I mean, like kookie stuff. So who do

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you believe? Do you believe him, or do you believe

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the doctors? Or in today, do you believe the senators.

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There's nobody that I put my faith and trust in.

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Speaker 2: So let's start. I'll play a little bit of this

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for you.

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Speaker 1: It was just a mess. Here you go.

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Speaker 2: No, I did not Yes, that's a yes or no.

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Speaker 3: So you have an opportunity to call her a liar

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if you say that you didn't do it.

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Speaker 2: But I'd like to see you respond to this.

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Speaker 4: No, I did not say that to her, and I

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never had a private meeting with her. Other witnesses to

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every meeting that we have, and all those witnesses we'll

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say I never said.

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Speaker 3: So she's lying today to the American people on the

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Wall Street Journal, Yes, sir, Yeah.

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Speaker 1: They were talking about doctor Susan Monarez, who was the

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one that ran the CDC for three weeks and everybody

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was calling everybody a liar. And one of the things

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that RFK does, RFK Junior does is he denies that

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he said something. And I've seen two or three occasions

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where a reporter has turned around or an anchor has

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turned around when he's doing an appearance in the media

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and played for him the exact words that he said,

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and he just shakes his head because he just said,

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he denied that he ever said that. He does that

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a lot, so I don't know what's wrong with him,

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but he does that. Here it gets just a little

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test here.

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Speaker 4: Most Americans will be able to get it from their pharmacy.

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Speaker 5: For question is everyone who wants it?

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Speaker 2: That was your promise on no identity.

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Speaker 4: I never promised that I was going to recommend products

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for which there is no indications.

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Speaker 5: When you said, and I know.

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Speaker 4: You've taken eight hundred and fifty five thousand dollars from

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farm Assume Company, the question.

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Speaker 5: No, I'm asking the questions here that question.

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Speaker 2: I'm asking the questions Kennedy question. I'm asking the.

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Speaker 6: Questions for mister Kennedy on behalf of parents and schools

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and teachers all over the United States of America.

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Speaker 2: Who deserve so much better than your leadership. You did

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it behind a public. Now parents who decide that they

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do want their children to I'm not just making stuff up.

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Speaker 7: You know, sometimes when you make an accusation, it's kind

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of a confession.

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Speaker 2: Mister Kennedy. You choose to know.

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Speaker 6: Answers to questions with some colleagues on I'm willing to answer,

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will answer there. Someone should have asked you, maybe President

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Trump should have asked you, are you a trustworthy person?

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Speaker 2: I we should have waited for an answer, then let's.

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Speaker 4: Go on to know what you're talking about. They're talking gibberish.

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Speaker 1: Your doctor, Jebbrais, you're a liar. You're back and forth.

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It was four hours of that today. I will spare

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you the four hours, but it was. It was sad

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because it did it looked like children that were arguing

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with each other. This is not a Congress, is not

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running as a professional organization. And RFK Junior did not

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act like a professional person himself. It was so so

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so bad the way they behaved. So RFK Junior, he

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did four hours of testimony. Meantime, down in Florida, they

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are going to stop vaccine mandates in other words for

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the kids going to school. If you don't have to,

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you don't have to show a vaccine record of any kind.

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I don't know where this is going to go, but

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you know, you hear the doctor say, if you don't

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have I don't know what the number is, eighty five

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percent ninety percent of the population immunized through a vaccine

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for some of these things, then the virus will spread

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and then we'll all get it measles, mumps, polio. RFK Jr.

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In the past that testified he would not fire any scientist.

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He has about three thousand of them. He testified he

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would not. For his confirmation he would not interfere with

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vaccines or the VAXs panel, and he's done both.

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Speaker 2: Fired.

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Speaker 1: The head of CDC replaced the person who took over

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from doctor Susan Monev is a venture capital guy. He's

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running CDC. He may be a very smart guy, but

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I don't know. Seems like a venture capital guy. I'm

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I'm not sure if I want to take my medical

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information from him. I don't trust the CDs. I don't

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trust RFK Junior. I don't trust the senators. I guess

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it comes down to you just better ask your doctor.

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The problem is if your doctor says, yeah, go get

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a vaccine, go get a COVID shot or whatever it

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might be, well, the pharmacies apparently are now on hold.

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One of these doctors has that. I think it's I'm

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not sure. Let's play. This is doctor David Sulkan, and

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he used to be the head of the VA in

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Trump one point zero. Here's what doctor Sultan had to say.

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Speaker 8: So I don't think that this hearing did much in

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terms of restoring the confidence in the system for most

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Americans who are watching this, the Americans that want to

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have a government that they trust and understand and frankly

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that is going to be there in the next pandemic.

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Should that happened, and unfortunately, all that we really saw

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was Washington politics at it's worse today. The Secretary was defiant,

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he was combat of but I don't think he did

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much in terms of really shedding light on any facts

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or data to be able to give confidence that this

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agency is headed in the right direction, or that people

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are going to be clear with advice on what to

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do when they go to their doctor and their pharmacists.

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So I don't think that this had the impact that

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I think that the Secretary was hoping that it would.

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I think what we saw was a fair amount of

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consistency from the senators, both Republicans and Democrats, understanding that

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this was actually warp speed, was a public private partnership

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that was a dramatic success and something that frankly, President

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Trump does deserve credit because that happened under his first term.

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The Secretary rather than being able to build upon that

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and say where we're going to go in the future,

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how we're going to continue to build on public private

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partnerships and be able to build up the resiliency of

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our public health system. Really that's where he lost the narrative,

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and he basically said, but it went wrong from there.

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And I think again, we need to see confidence in

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the system. We have a very very strong infrastructure in place.

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America should continue to be leading in this area, and

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I think that's what people want to see from government. Yeah,

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I don't think there is a clear path that's been outlined.

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Let's take a look at what happened today. The role

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of that Senate committee is oversight, and they were trying

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to do that. They were asking they were well prepared,

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they were asking questions, they were looking for clear answers,

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and I'm not sure that we got much further down

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the road in terms of that. We have to have

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political leadership in place that is going to restore the confidence,

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and the way to do that is through science based

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or evidence based policy, and so we're going to need

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to find somebody that's going to lead these agencies, particularly

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in this case the CDC, who has those qualifications. We

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didn't hear a real clear, good reason why these firings happened.

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We heard a difference of opinion about, you know, the

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trustworthiness here, but I think the real issue is we're

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their policy differences and what type of leader is the

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Secretary looking to have in place to be able to

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drive the agency and restore that confidence. And I'm not

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sure that any of us got that answer today. So

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that still is work that's going to need to be done.

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I think that you know, we saw that the Secretary

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has thirty one congressional letters that haven't been responded too yet.

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I think we need to step up the ability to

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begin to start answering these questions, to provide the transparency

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in government, to get people in these positions that are

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going to be allowed to follow the science to be

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able to begin to restore the confidence that we need,

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just as we're entering the fall, where we're likely to

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see new respiratory conditions that are going to require people

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to know what to do when they get sick.

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Speaker 1: Well, there's a guy who not only is a doctor

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but also has served in high levels of government, and

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he wasn't impressed at all today. Nobody was. Nobody was

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even Mark Warner, Senator Mark Warner from Virginia. He's the

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wealthiest senator. He made his money, had a company that

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he started that was in the computer tech world. So

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I presume he's a fairly smart guy, and he was apoplectic.

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Speaker 9: During the Secretary of Health and Human Service. You don't

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have any idea how many Americans died from COVID.

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Speaker 4: I don't think anybody knows because there was so much

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data chaos coming out of chair.

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Speaker 9: Your Secretary of Health and Human Services doesn't no matter

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how many Americans died from COVID. Now let them know

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if the vaccine helped prevent any deaths, and you were

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sitting as Secretary of Health and Human Services, how can

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you be that ignorant?

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Speaker 1: Okay, there's another little name calling. We've had lots of

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name college, So how can you be yet ignorant? Actually,

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Mark Theesen had an answer about that.

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Speaker 7: Well, I think Kennedy is right that the CDC doesn't

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have accurate data. So one of the things that we

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learned about the pandemic was that it was that children,

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particularly younger children, were completely on at risk from COVID.

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There were in Germany, they they where they kept tracking

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the numbers, not a single child age fifteen to seventeen

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died of COVID who was healthy, who didn't have a

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pre existing condition. When I tried, when I was reporting

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this from my column in the Washington Post, I wanted

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to get the CDC numbers for the United States, and

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I was told we didn't have them because we don't

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track that. We literally weren't tracking how many child deaths

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from COVID were people who had pre existing conditions and

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how many were healthy children.

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Speaker 2: That data just wasn't being collected.

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Speaker 7: It's hugely important because I would in Germany, not a

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single healthy child died, And so Kennedy is right that

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the CDC really doesn't have numbers on a lot of

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this stuff. And this is one of the reasons why

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the Trust in our public health institutions has been absolutely devastated.

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Speaker 2: These people told.

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Speaker 7: Us we had to keep our kids out of school,

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even though we learned that there was no risk to children.

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They had to have mandated to take vaccines for an

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illness they weren't in danger of. In order to get

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back into school, we had to have masks, social six

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foot socialism. None of it based on science at all.

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And so we have a huge destruction of trust. There's

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never been any accountability for it. There's never been a

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nine to eleven commission to look into our failures in

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the pandemic. And so Kennedy comes in challenging all this

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and people are saying, well, you're he's a Nott and

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he's a nanci vaccent. A normal American watching this doesn't

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know what to believe.

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Speaker 1: And that includes me. But remember at the back during

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the pandemic it started the numbers started being questioned because

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we had a weekly well I think it was updated daily.

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I forget where that the source of all that was.

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It was one of the universities I think in Pennsylvania.

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In any case, No, no, no, it was JOHNS Hopkins

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in Baltimore. And so we would have these very detailed

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numbers every day about how many people had died, how

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many recovered. We had a nice dashboard of numbers. But

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then they came out and they said, well, you know,

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Joe Jones was killed in a car accident, and when

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they did the autopsy they found out that actually he

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also had COVID, so they blamed it as a COVID death,

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but it was really a car accident death. So it

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kind of stuff that was you know, people had had

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a political agenda to boost the numbers or not boost

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the numbers. Doctor Sanjay Gupta has some numbers that he got.

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Let's listen to him.

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Speaker 10: I think if you were an American watching these last

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three hours, you would be completely confused. He would have

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been assaulted by misinformation and disinformation. You wouldn't know if

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COVID vaccines cause more debts versus COVID itself. You might

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think anti depressants lead to increased suicides and mass shootings.

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People called each other liar over and over again. I

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mean the term that we would.

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Speaker 2: Hear very sporadically.

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Speaker 10: It was used so many times today there was just

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it was just very hard to piece together. I think

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one thing I think is important is that there's constantly

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been this tension between the Make America Healthy Again movement,

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which I think a lot of people agree with fundamentally

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because we're not a very healthy country, but it is

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so entangled with this discussion around vaccines. And I think anytime,

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you know, Secretary Kennedy was sort of asked about vaccines,

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he would sort of rely on this idea that we're

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not a very healthy country. Those are two distinct things.

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I was very confused by many of these things. And

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I think one thing I agree with Secretary Kennedy on.

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I don't think a lot of times they were looking

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for answers for him on specific questions. One of the

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big ones was what was the real value of Operation

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Warp Speed? What did that really do President Trump others

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have said this was one of the greatest scientific achievements.

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Senator Cassidy said he should President Trump should be nominated

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for a Nobel Price. Let me just show you something

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really quick, because I think when it comes to data,

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people say, look, we don't trust the corporations to give

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us data, we don't trust the government to give us data.

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And we run into this as reporters all the time.

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I don't know if we have this data from the

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Commonwealth Fund. A lot of times we search for data

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from other organizations that are that are not taking funding

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from from private or governmental organizations. If we don't have it,

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I can sort of tell you the numbers here. But basically,

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so between December twenty twenty and November twenty twenty two,

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what did the vaccinations do in the United States? Prevented

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eighteen point five million hospitalizations and avoided three point.

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Speaker 2: Two million debts.

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Speaker 10: I put this up because, again trying to cut through

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some of the clutter here, everyone's going to keep saying, well,

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Pfizer's presenting that data. I don't trust that CDC is

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presenting that data. I don't trust it. So who are

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you going to trust? Who are you going to trust?

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And I think that's fundamentally what this is going to

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be about over the next who knows how long. There

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are many states and including DC, where it is very hard,

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if not impossible, to get a COVID vaccine right now,

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and that is because pharmacists are relying on the Advisory

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Committee to make these recommendations. The Advisory Committee, as you know,

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is dismantled. And then we're going to see if there's

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even a meeting sometime later this month. But right now

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pharmacists are sort of bound in many states to what

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those a sub recommendations are. Could you go to a doctor,

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could you pay for it yourself? Could you get it

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off label? Perhaps, but as was pointed out several times today,

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it is far harder today than it was even a

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month ago or certainly a year ago to get the

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shot if you want it. And that really goes for

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anybody in the country, at least in these states.

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Speaker 2: And it's a patchwork, you know.

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Speaker 10: So it's it's really challenging and very confusing, far more

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confusing than it needs to be. We know the specifics

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that he said, it's no longer recommended for pregnant people

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or healthy children. Pregnant people, by the way, are often

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they're an increase risk. And the end of the EUA

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as well.

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Speaker 1: Yeah, so not talking about mandates, but just talking about availability.

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Can you get a COVID shot if you want to?

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And you heard doctor Gupta saying that the pharmacist are

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relying upon that committee, and the committee was fired and

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now they got to have another meeting with the new

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committ It seems a mess. It seems like the whole

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thing today was just total chaos, and it seems like

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that's the way our health system in this country has

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has been running and is still running, speaking of a

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total mess and changing subjects. So the mayor of New

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York the race here is Mam Donnie is ahead, He's

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got forty some percent in the polls of a chance

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of being elected. And Cuomo is I forget, he's behind

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twenty some percent. And Curtis Sliwa is the Republican, He's

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at like twelve percent, and then the current mayor, Eric Adams,

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is at seven percent. So the story leaked out of

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the White House that the White House is going to

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get Curtis Sliwa and Eric Adams jobs in the federal

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government so that they will drop out of the race

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for mayor, and then it would be a nose to

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nose race between Cuomo and Mam Donnie. Here's Karl Rove

401
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talking about it. First of all, I think the fact

402
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that it was announced, it leaked out that this attempt

403
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was supposedly being made to offer a job at hud

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to Adams and to find a slot for Curtis Sliwa,

405
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I think it probably means that they attempted it, and

406
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it's not going to work out. It certainly gave mom

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Donnie a chance to go on the offense against Donald Trump, who,

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after all, in the city of New York got about

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a third of the vote thereabouts. And so I'd say

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right now, tactical short term victory for Mim Donnie because

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we're not talking about what he believes and the weird

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positions he's taken, particularly in the past. Instead we're talking

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about is Donald Trump trying to defeat him?

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Speaker 2: Hard to do.

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Speaker 11: Particularly if it's one thing that this had happened in June,

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it's another thing when it happens less than ninety days

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from the election. I think this is this all works

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to mom Donnie's benefit at this point because he gives

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him a chance to not talk about you know, I

420
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got a lot of free stuff and I don't have

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any way to pay for it, and I said ugly

422
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things about the New York Police Department, and rather than

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being talked about those, he goes on the offense against

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Donald Trump, who's favorable ratings in New York have to

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be pretty low.

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Speaker 1: Yeah, speaking about chaos. So this race is chaotic, and

427
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AOC is pushing the Democrats to support ma'am Donnie because

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Hakim Jeffries, who's a congressman from Brooklyn, and the head

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of the Senate, Chuck Schumer, is a New York Senator.

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Here's AOC greipen.

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Speaker 12: I am very concerned about the example that is being

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set by anybody in our party. If an individual doesn't

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want to support the party's nominee now, it complicates their

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ability to ask voters to support any nominee later, whether

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that is mayoral, presidential.

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Speaker 2: What have you look Think about what she just said.

437
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Speaker 11: She just said that no matter how outrageous the views

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of a Democratic candidate are, every Democrat has to endorse them,

439
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particularly the leaders. Mamdami is on record with anti Israel comments,

440
00:26:17,799 --> 00:26:18,920
anti Jewish comments.

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Speaker 2: Think about what he said about the police.

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Speaker 1: In New York.

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Speaker 11: Here it is the New York Police Department is a racist,

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anti queer, a major threat to public safety. That's what

445
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he says about the News had said in the past

446
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about the New York Police Department, defunded, dismantled, and the

447
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cycle of violence. He's blaming violence in New York on

448
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the New York Police Department. That's the kind of thing

449
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that could get him into trouble and probably why Hakim

450
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Jeffreys and Schumer taking some distance.

451
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Speaker 1: Yeah, that's gonna be an interesting one to watch, only

452
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from the standpoint of I'm not sure if President Trump

453
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isn't playing three dimensional chess here, because if he does

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something that everybody can see in New York that he

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he's supporting Cuomo to beat ma'm donnie, and people in

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New York do not like Donald Trump, then they will

457
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not support Cuomo. And therefore, ma'am Donnie looks like he's

458
00:27:11,960 --> 00:27:15,359
got it made. But you never know who's going to

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00:27:15,440 --> 00:27:18,480
come out on election day, and we're about knotty days out.

460
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We haven't talked about the drug boat, the one that

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the US military just blew it out of the water,

462
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and it was a bunch of they say it was.

463
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The intel on it was it was a drug boat

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that was bringing drugs from Venezuela and heading eventually to

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the United States. So the military focused in on it

466
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and kaplow in the water. Eleven people were killed and

467
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all the drugs went to the bottom of the ocean.

468
00:27:55,720 --> 00:28:01,319
So Marco Rubio, Secretary of State, and basically his purview,

469
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let's listen to what he said.

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Speaker 9: Let me say this.

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Speaker 13: The United States has long, for many, many years, established

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intelligence that allow us to interdict and stop drug boots.

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We did that and it doesn't work. In addiction, doesn't

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work because these drug cartels what they do is they

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00:28:17,200 --> 00:28:19,519
know they're going to lose, you know, two percent of

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their cargo. They bake it into their economics.

477
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Speaker 1: So what do you think, I mean, I think if

478
00:28:27,079 --> 00:28:30,400
it's this way that we In fact, President Obama I

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00:28:30,640 --> 00:28:34,440
called him the obominator because he would send drones over

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00:28:34,559 --> 00:28:38,440
the top of various terrorist organizations somewhere in the Middle

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00:28:38,480 --> 00:28:40,799
East and blow them up out of the sand. And

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00:28:41,000 --> 00:28:44,920
this is the same thing. This is a designated terrorist organization,

483
00:28:45,720 --> 00:28:50,880
and it is it's the same thing. We just we

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00:28:51,039 --> 00:28:52,640
blow them out of the water instead of out of

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00:28:52,680 --> 00:28:57,319
the sand. Ian Bremer Well, he talks about whether this

486
00:28:57,480 --> 00:29:00,480
is going to go bigger into maybe a full blown

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00:29:00,519 --> 00:29:02,240
war against Venezuela.

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00:29:02,960 --> 00:29:05,400
Speaker 5: Because it's not just blowing up a boat.

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00:29:06,000 --> 00:29:12,559
Speaker 14: First of all, the Trump administration considers Maduro to be

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00:29:12,759 --> 00:29:16,559
a legitimate target. They don't see him as head of state.

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They see him as a terrorist and the leader of

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00:29:19,960 --> 00:29:22,920
the cartel. They have a fifty million dollar bounty on

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00:29:23,079 --> 00:29:27,279
his head and the military that they have sent off

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00:29:27,319 --> 00:29:31,599
of Venezuela's coast, including a nuclear submarine, some two thousand marines,

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00:29:32,839 --> 00:29:36,759
significant numbers of battle vessels. This is not to take

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00:29:36,839 --> 00:29:42,519
out a small boat and kill eleven drug dealers or

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00:29:42,599 --> 00:29:47,160
drug transitters. This is clearly a message directly at the

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00:29:47,279 --> 00:29:51,039
Maduro regime. And I think at a minimum you are

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00:29:51,200 --> 00:29:56,200
looking at escalation that feels like a blockade. At a maximum,

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00:29:56,319 --> 00:29:58,880
you're probably I think it's more likely than not that

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00:29:59,000 --> 00:30:02,960
you're going to see some direct strikes on targets in Venezuela.

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00:30:03,079 --> 00:30:07,799
Now are those targets at the regime itself or at

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00:30:07,920 --> 00:30:12,279
gangs and cartels? And how's the Venezuelan military going to

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00:30:12,400 --> 00:30:16,000
respond if they start feeling like, you know, Tomahawk missiles

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00:30:16,799 --> 00:30:17,480
targeting them.

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00:30:18,519 --> 00:30:20,000
Speaker 5: That's a very interesting question.

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00:30:20,359 --> 00:30:24,240
Speaker 14: The markets, i mean, Venezuelan bonds have blown out over

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00:30:24,279 --> 00:30:27,599
the last twenty four hours levels we haven't seen in decades,

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00:30:27,720 --> 00:30:31,200
because certainly they're seeing that there's a lot of risk

510
00:30:31,240 --> 00:30:35,160
around this existing regime. Marco Rubio made a tour trip

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00:30:35,240 --> 00:30:38,039
down to Mexico in advance of this and has gotten

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00:30:38,880 --> 00:30:43,599
a complete go ahead and promises of cooperation from the

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00:30:43,640 --> 00:30:46,680
Mexican government, which was seen as essential by the United States.

514
00:30:46,759 --> 00:30:50,680
Now President Shanbaum has not wanted to talk about details

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00:30:50,720 --> 00:30:54,880
specifics to the public in Mexico specifically, because you know

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00:30:55,039 --> 00:30:58,960
they'll be concerns about sovereignty, they'll be nationalists backlash, But

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00:30:59,039 --> 00:31:00,440
there has been support there.

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00:31:00,839 --> 00:31:03,400
Speaker 5: Columbia, on the other hand, you've got a.

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00:31:03,480 --> 00:31:07,400
Speaker 14: Very unpopular leader far to the left who has been

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00:31:07,799 --> 00:31:12,119
largely sympathetic to the Maduro regime. And I think there

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00:31:12,200 --> 00:31:15,440
you'd have a big crisis in their relationship with the

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00:31:15,559 --> 00:31:18,519
United States. It could break off diplomatic relations. But I

523
00:31:18,599 --> 00:31:21,200
do want to make clear here no one's talking about

524
00:31:21,200 --> 00:31:23,960
the boots on the ground and a policy of regime

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00:31:24,079 --> 00:31:27,160
change that the Americans would be involved in affecting. And

526
00:31:27,599 --> 00:31:29,920
as much as Trump says he wants to end wars,

527
00:31:30,039 --> 00:31:33,720
and he's put a lot of effort into that, successfully

528
00:31:34,279 --> 00:31:38,079
in some cases at the margins, unsuccessfully of course, in

529
00:31:38,160 --> 00:31:41,680
the case of Russia, Ukraine and Israel Gaza. But Trump

530
00:31:41,759 --> 00:31:47,960
has no problem using the military with target strikes at enemies,

531
00:31:48,000 --> 00:31:49,240
and we've seen that with Iran.

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00:31:49,359 --> 00:31:51,240
Speaker 5: We saw in his first term with Iran, and.

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00:31:51,319 --> 00:31:54,000
Speaker 14: I think his view would be Venezuela is much more

534
00:31:54,039 --> 00:31:57,079
akin to that than it would be. You know, suddenly

535
00:31:57,119 --> 00:31:58,759
the United States is going to be in a multi

536
00:31:58,839 --> 00:32:01,079
year morass the way it was RockA Afghanistan.

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00:32:01,359 --> 00:32:04,039
Speaker 1: So we see you where this goes. And there's of course,

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00:32:04,319 --> 00:32:08,240
if you're a Trump supporter, you're cheering the fact that

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00:32:08,440 --> 00:32:13,160
good he's doing something about making the drug cartels pay attention,

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00:32:13,319 --> 00:32:15,640
that he's not going to just roll over and we've

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00:32:15,680 --> 00:32:17,920
done nothing to stop the drugs coming in our country.

542
00:32:18,000 --> 00:32:21,039
So this may be the beginning of all of that.

543
00:32:22,119 --> 00:32:25,559
On the economy, the big story is tomorrow morning, eight

544
00:32:25,680 --> 00:32:28,839
thirty Eastern time, the jobs report for the month of

545
00:32:28,920 --> 00:32:31,319
August comes out. I don't know if you're going to

546
00:32:31,400 --> 00:32:35,400
believe the numbers no matter what they are. Today ADP

547
00:32:35,799 --> 00:32:39,680
came out with their private sector jobs report and they

548
00:32:39,799 --> 00:32:44,559
said that the private sector created only fifty four thousand

549
00:32:44,759 --> 00:32:49,079
jobs last month. It was estimated to be slow. It

550
00:32:49,200 --> 00:32:51,839
was estimated to be seventy five thousand, turned out to

551
00:32:51,920 --> 00:32:55,200
be worse than that, at fifty four thousand. Steve Leisman

552
00:32:55,279 --> 00:32:59,599
over at CNBC's kind of their economic guru, was just

553
00:32:59,759 --> 00:33:04,480
chat with his fellow staffs on on the set this

554
00:33:04,640 --> 00:33:07,319
morning about what he's observing about jobs.

555
00:33:07,640 --> 00:33:09,200
Speaker 2: But the first two pages layout on it.

556
00:33:09,319 --> 00:33:13,160
Speaker 15: They layout an economy at saw Street, little economic activity

557
00:33:13,359 --> 00:33:15,039
for districts had modest growth.

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00:33:16,599 --> 00:33:18,759
Speaker 5: And then the Challenger report this morning.

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00:33:20,319 --> 00:33:25,640
Speaker 15: Layoffs up thirty nine percent, adding pharmaceuticals in finance to

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00:33:25,759 --> 00:33:28,160
the sectors that we're seeing layoffs.

561
00:33:28,200 --> 00:33:30,480
Speaker 5: So I'm Steve, have you seen it?

562
00:33:30,559 --> 00:33:32,839
Speaker 15: I ended up with more concern about the economy after

563
00:33:33,359 --> 00:33:35,279
yesterday's data and this morning's challenge.

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00:33:35,319 --> 00:33:37,880
Speaker 4: Is there anything to know that the falling participation rate

565
00:33:38,039 --> 00:33:41,559
is masking a much higher Yes it could, all.

566
00:33:41,519 --> 00:33:44,480
Speaker 1: Right, So they're seeing this slowing down in the labor markets.

567
00:33:44,960 --> 00:33:48,440
Not a Richardson, the chief economist over to ADP. She

568
00:33:48,640 --> 00:33:51,079
has the details on the slowdown that she sees.

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00:33:51,319 --> 00:33:53,559
Speaker 16: No, I think it's been in stasis for about a

570
00:33:53,680 --> 00:33:56,400
year now. But we have to look at the broader context.

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00:33:56,759 --> 00:33:59,200
This is an economy that was kind of whipsawed by

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00:33:59,279 --> 00:34:01,240
the great as a nation. A lot of people are

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00:34:01,279 --> 00:34:05,119
pretty happy where they are and they're staying put, so under.

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00:34:05,000 --> 00:34:09,599
Speaker 17: Our worker happy where they are unemployed employed. But also

575
00:34:09,880 --> 00:34:13,920
this is you know, firm behavior. Employer behavior has changed

576
00:34:14,000 --> 00:34:16,440
quite a bit since the pandemic, and you can see

577
00:34:16,480 --> 00:34:20,039
it in the hours worked. Right now, average hours is

578
00:34:20,119 --> 00:34:23,760
about two hours less a week according to ADP payroll

579
00:34:23,840 --> 00:34:24,639
data than it was.

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00:34:24,960 --> 00:34:26,000
Speaker 2: Before the pandemic.

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00:34:26,400 --> 00:34:29,800
Speaker 16: That's consistent with a hiring pattern where you're keeping people

582
00:34:29,960 --> 00:34:33,440
on payroll but they're working fewer hours. Before you cut

583
00:34:33,480 --> 00:34:36,159
a job, you'll cut an hour, and so what we're

584
00:34:36,199 --> 00:34:41,320
seeing is maybe an underemployed worker as opposed to an

585
00:34:41,440 --> 00:34:45,639
unemployed worker, which is a meaningful difference. It's also easier

586
00:34:45,679 --> 00:34:48,559
to add hours when things pick up, So the flexibility

587
00:34:48,639 --> 00:34:51,840
we're seeing now is an hour's work, not just in

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00:34:51,960 --> 00:34:53,599
growing and shrinking your headcount.

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00:34:53,639 --> 00:34:53,880
Speaker 5: Fetch.

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00:34:54,480 --> 00:34:57,960
Speaker 16: There's a lot of things happening in healthcare, whether it

591
00:34:58,280 --> 00:35:02,360
is labor shortages we're seeing. We're seeing an aging demographic

592
00:35:02,519 --> 00:35:04,679
take root in that industry. So if you look at

593
00:35:04,719 --> 00:35:08,119
the average age of nurses and doctors and healthcare aids,

594
00:35:08,199 --> 00:35:12,960
it's going up. You're seeing that retiree segment tenures shortened

595
00:35:13,199 --> 00:35:16,000
because people are leaving the field post pandemic.

596
00:35:16,440 --> 00:35:18,320
Speaker 5: Immigration is going to have a huge.

597
00:35:18,159 --> 00:35:22,599
Speaker 16: Factor a sector like healthcare, or part of it is supplied,

598
00:35:22,920 --> 00:35:26,840
part of it is having the dollars to hire. A

599
00:35:26,920 --> 00:35:29,320
lot of that sector is built in on grant money.

600
00:35:29,360 --> 00:35:32,199
If that grant money dries up in education and healthcare,

601
00:35:32,360 --> 00:35:35,440
you can't get, you can't hire. In the same way

602
00:35:35,480 --> 00:35:38,719
that all of this is playing out into a weaker

603
00:35:39,360 --> 00:35:41,920
education and healthcare number that we've been tracking for quite

604
00:35:41,920 --> 00:35:44,840
a while. This is not new for ADP payroll data.

605
00:35:45,079 --> 00:35:47,880
It is a distinction with the BLS data. We have

606
00:35:48,039 --> 00:35:50,960
seen weaker healthcare growth for the better part of a year.

607
00:35:51,119 --> 00:35:54,400
Speaker 1: So speaking of money, well, I'm here at work today.

608
00:35:54,480 --> 00:36:00,719
Gives I did not win. Neither did you had the lottery.

609
00:36:00,800 --> 00:36:05,480
Now it's one point seven billion dollars, So we'll see

610
00:36:05,519 --> 00:36:10,880
what happens next draw. NFL football kicks off tonight. Yes,

611
00:36:12,280 --> 00:36:17,599
it's the Cowboys versus the Philadelphia Eagles in Philadelphia, super

612
00:36:17,639 --> 00:36:20,639
Bowl Champs. So that's going to be on NBC tonight.

613
00:36:20,679 --> 00:36:24,079
As NFL football gets underway, there's a big gathering at

614
00:36:24,119 --> 00:36:26,360
the White House. I don't know if you got your invite,

615
00:36:27,079 --> 00:36:31,000
but a lot of the big, big, heavyweight tech CEOs

616
00:36:31,039 --> 00:36:33,280
are all invited to the White House tonight. They're going

617
00:36:33,360 --> 00:36:38,639
to have some festivities out on the paved over Rose Garden.

618
00:36:39,639 --> 00:36:42,119
I don't know what they're going to do, but I'm

619
00:36:42,119 --> 00:36:43,960
sure the President's going to hit them up for something.

620
00:36:44,000 --> 00:36:46,400
It'll be interesting to see if he hits them up

621
00:36:46,519 --> 00:36:51,360
for part ownership of their companies. Anyways, tech CEOs at

622
00:36:51,400 --> 00:36:54,039
the White House tonight NFL, I'm sure some of them

623
00:36:54,039 --> 00:36:59,360
would rather watch the NFL game the kickoff, and we'll

624
00:36:59,360 --> 00:37:01,000
buy you a lot of tickets and we'll see what

625
00:37:01,360 --> 00:37:05,079
comes out of all of that. We have Wall Street

626
00:37:05,159 --> 00:37:10,599
today anticipating tomorrow morning's jobs report, and I think, no

627
00:37:10,679 --> 00:37:13,559
matter what they think about the jobs report, whether we'll

628
00:37:13,599 --> 00:37:16,320
be good, better, and different, I think most people on

629
00:37:16,400 --> 00:37:19,079
Wall Street today were buying because of the fact that

630
00:37:19,239 --> 00:37:22,199
you've got it's going to have to take a real

631
00:37:22,320 --> 00:37:25,559
crushing blow on those job numbers to knock the fed

632
00:37:25,800 --> 00:37:29,079
off of the decision to lower interest rates coming up

633
00:37:29,159 --> 00:37:33,760
in about ten days. So on Wall Street today, the

634
00:37:33,880 --> 00:37:36,960
dal Fin eached up three hundred and fifty points, the

635
00:37:37,000 --> 00:37:41,559
Dow at forty five six, twenty one, SMP up fifty three,

636
00:37:42,440 --> 00:37:46,000
NASDAC up two hundred and nine, price of goal after

637
00:37:46,039 --> 00:37:49,000
a couple of days of big rallies fail today thirty

638
00:37:49,079 --> 00:37:52,840
dollars down to thirty six oh five, and oil down

639
00:37:53,519 --> 00:37:57,559
sixty plus cents to sixty three dollars, and some change

640
00:37:57,599 --> 00:38:01,199
for one barrel of oil. Thank you for coming by today.

641
00:38:01,880 --> 00:38:04,480
We'll be back again tomorrow. Hope to see you the

