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Speaker 1: And welcome to the Big Podcast on this Wednesday, the

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sixth day of August, year of Our Lover twenty twenty five.

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My name is Tom Sullivan, and we just have a

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breaking news and breaking news and breaking news.

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Speaker 2: Kind of hard to do breaking news on a podcast

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because I don't know when you're listening to this, so

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I'm so used to doing live radio, but forgive me,

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so I want to start with. First of all, we

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just had some news out of the White House that

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President Trump maybe looks very positive that he may be

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meeting with Vladimir Putin next week. Steve Whitcowff had a

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meeting with Putin earlier today. It was a three hour

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meeting in Moscow. And after that meeting, apparently Witkoff communicated

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with the President that Vladimir Putin is willing to meet

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not only with Donald Trump but also with Zelenski next week.

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We don't know where, we don't know the date. It's

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still it looks like it's pretty certain. But President Trump

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put a caveat on it and said I'll go to

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that meeting absolutely if the meeting consummates into a ceasefire agreement.

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So we're still waiting for a double triple confirmation. Dan Hoffman,

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former CIA station chief in Moscow, this is his reaction.

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Speaker 3: Well, first, I would tell you from my experience of

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having tried to see the world through the twist of

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kgbiyes of Vladimir Putin for decades when I was serving

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at CIA. President Trump will be asking the intelligence community

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for some reflections about what's going on in the Kremlin.

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What's motivating Vladimir Putin? Is this an act of desperation

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on Putin's part because he's concerned about those sanctions that

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are supposed to hit in two days. Did Putin take

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to heart President Trump's decision to deploy two submarines in

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the region after Putin's deputy National security advisor Mitvedev made

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such irresponsible comments about nuclear threats and nuclear rhetorical nuclear brinkmanship.

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Those are questions yet to be answered. Peter's right, there's

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lots of work to be done, preparatory work. It's a

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time to mistrust and verify Vladimir Putin. Russia's demands have

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been maximalists. They want regime change in Ukraine, they want

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a puppet regime there. They want to control Kiev and

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the central government. And they've never really offered up any

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real peace proposals. So there's a lot of work yet

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to be done.

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Speaker 2: There is a lot of work to be done, especially

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if they're going to meet next week. That's only a

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matter of a few days. Again, the deadline for a

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ceasefire was a ceasefire agreement is Friday, and so sometime

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next week they're going to be meeting. And also today

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the President said to India, because you are buying Russian oil,

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the twenty five percent tariff that we had on all

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goods from India, guess what, I'm changing it to fifty percent.

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So here's more from Dan Hoffman. Yeah, I think that's right.

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And look, China and India hold all the cards. They're

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importing oil at reduced prices. Russia is very much a

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junior partner in those relationships, commercial relationships, and certainly the

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overall strategic relationship with China. Question of whether India and

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China in particular have been reaching out to Vladimir Putin

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and telling him that he needs to strike a deal here.

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So we'll just have to wait and see how things

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shake out in the coming days. So we'll give it

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some time, but not a lot, because they're going to

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have to make a decision about whether this meeting is

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absolutely foreshore and if so, the fact that Putin is

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willing to meet, and Trump saying only if the meeting

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equals or ends in a ceasefire. So there's a lot

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going on there. We also had a shooting today, another one,

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this one at Fort Stewart in Georgia. Fort Stewart had

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five soldiers that were shot. All of them are in

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stable condition. Three of them have been brought to surgery,

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but their five soldiers are all in stable condition. A

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sergeant on the base was the shooter and they apparently

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tackled him. Here's the base commander, General John Lubits, from

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the third Infantry Division, talking about what happened at the

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base today. Shortly before eleven o'clock, an active duty soldier

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assigned to Fort Stewart, Georgia, shot and wounded five of

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his fellow soldiers here on Fort Stewart. Thankfully, all are

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in stable condition and all are expected to recover it.

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The alleged shooter is in custody. We re established security.

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I have lifted all lockdown measures on Fort Stewart and

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there is currently no threat to the local community. I'd

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like to recognize and thank our Army law enforcement and

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medical personnel, and our partners from local, state, and federal

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law enforcement and emergency services for their quick response and support.

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I would also like to thank the brave soldiers who

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immediately intervened and subdued the shooter. If these soldiers, without

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a doubt, prevented further casualties. Our wounded soldiers were initially

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evacuated to Win Army Community Hospital right here on Fort Stewart.

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All arrived in stable condition, and three of the five

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required surgical intervention. Two have been transported to Memorial Hospital

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in Savannah, Georgia for additional care. We have identified the

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alleged shooter as Sergeant Cornelius Radford, an automated logistics sergeant

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assigned to second Brigade Combat Team. Sergeant Radford has not

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previously deployed to combat. Sergeant Radford has been interviewed by

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the Army Criminal Investigation Division and is currently in pre

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trial confinement awaiting a charging decision to by the Office

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of the Special Trial Council. Right now, our primary focus

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is first on caring for our injured soldiers and their

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families and also supporting the soldiers of the Scartan Brigade.

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All of the families of the victims have been notified

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and we're wrapping our arms around them and ensuring we

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provide them all the support that we can. Before I

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take questions, I want to remind you that this is

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an ongoing investigation and we're still gathering questions, and ladies

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and gentlemen, I'll now take your questions.

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Speaker 4: Center lewisvill Vegas Costs the Lewis, Can you give us

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what unit he was assigned to at how long be

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served in the army If you didn't.

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Speaker 2: Mention it, he is assigned to one of our sustainment

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units here in second Brigade Combat Team at Fort Stewart,

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and I will have to confirm how long he served with.

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Speaker 4: Us RUS fine him with the associated press as best

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you can know, and so early can you block us

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through here? This happened, what happened in the shooting and

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words of victims on subordinates of the sergeants or were

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they people over him and ray?

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Speaker 2: Yeah, right now, it's premature and we're gathering a lot

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of the information. What we know is this soldier, the

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shooting occurred at the soldier's place of work. It did

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involve his co workers. We're still not certain about the motivations,

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but again he's been interviewed by Army investigators and we

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believe will gain more information here shortly.

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Speaker 4: Do you know if it's with any kind of training

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exercise or were they meaning any weapon?

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Speaker 2: No, man, we don't have any reason to believe it

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had anything to do with with a training event. Other

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than that, I can't I can't state the motivations for this. Sould.

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Speaker 4: We've heard that the shooter may have been from Jacksonville, Gorder.

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Are you burned that you also heard that you maybe

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been arrested for a duy recently.

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Speaker 2: Yeah, At this point, I can't confirm where he's from.

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We can follow up on that. I do believe he

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was arrested locally for a DUI that was unknown to

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his shane of command until the event occurred and we

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and we started looking into the law enforcement databases.

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Speaker 5: Robert elf the currents.

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Speaker 4: Can you tell us whether or not that was a

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military weapon or what is personal weapon?

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Speaker 2: Yes, ma'am, I can. I can confirm it was not

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a military weapon, and we believe it was a personal handgun.

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Speaker 4: What does this mean for ongoing security measures? Situations.

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Speaker 2: Yeah, I'm very confident in the security of this installation.

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We've got a great partnership with local law enforcement. As

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you can see here at our gates, we have armed

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guards in protective equipment. This one's a bit difficult, and

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we're going to have to determine how he was able

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to get a handgun to his place of place of duty.

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Clay News for Jackson.

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Speaker 4: Has the suspect had any friar, disciplinary or behavioral issues,

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Hung Banker, No.

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Speaker 2: Man, not that we're aware of. But again it's it's

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early in the investigation, but not that I'm currently aware of.

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Speaker 4: I know WJ.

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Speaker 6: Scales paces you mentioned that some soldiers out siting him,

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you know, gives as he surrendered peacefully or what is arrest?

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Speaker 4: Uh.

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Speaker 2: I don't have the details on that, but I know

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that his soldiers in the area that witnessed the shooting

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immediately and without hesitation tackled. The soldiers subdued him. That

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allowed law enforcement to then take him into custody and

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wait that time for one more question.

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Speaker 4: Uh. I know that he can't speak to the motivation,

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but you know, this turns out to be some situation

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where somebody added his your misbeliefs or maybe class privacy

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terrorist attack. I mean, how does that change the basis

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response or the basis investigation.

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Speaker 2: Yeah, currently we have no reason to believe any of

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that is the case. However, we continually continuously assess the

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threat environment, both in the immediate area and across our

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army and DUD installations, and we will address the threat

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level accordingly.

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Speaker 4: You have the branch of the shooter.

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Speaker 2: Yes, sir, he was a sergeant. Badies and gentlemen, thank

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you for your questions, and again thanks to the local

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responders and the local community for their help. Thanks and

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have a great afternoon.

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Speaker 4: Thank you.

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Speaker 2: So there you go a lot of people asking questions

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about how did he get this gun on a base?

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The base. If you're assigned to the base, which this

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sergeant was, he goes through the guard gate, has his ID,

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has probably a sticker on his car, shows his ID,

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and they wave them through. If you're visiting the base,

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they're probably going to stop asking you to open your trunk,

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look around a little bit to see what you're bringing in.

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So it's not unusual and people stretch of the hey

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going how could he possibly have a gun in there?

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I gotta tell you. An army base is one of

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the most gun free zones you'll ever be on because

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there's armories and if you are if you have a rifle,

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a gun, a pistol, all of that needs to be

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checked in and locked into the armory, and they're very

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particular about how you get a gun out of the armory,

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usually only for some sort of mission that you're going on.

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So it is kind of a gun free zone. But

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that doesn't mean if you're living off base, or if

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you're coming and going from the base to out into

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the area of Fort Stewart, you go down to a

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gun store, you buy a gun. It's not that difficult.

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So it was a handgun and more details to come,

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but the good news is five soldiers, all of them

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are expected to live. They're all in stable condition. It

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does remind me, though, of remember Fort Hood in two

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thousand thand and nine. Major Hassan got a hold of

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a rifle I believe it was it may have been

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a handgun, and killed thirteen people and injured thirty two.

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Major Hassan is parking himself somewhere in some break somewhere

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ever since. But that was a he had a problem.

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I believe he was a Muslim and he had a

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problem with the war against a Muslim countries and all

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of that that was going on back in two thousand

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and nine. So this looks more like a workplace beef

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than it does anything regarding politics or religion. The story

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of the Texas legislators that are on the run, it's

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I don't mean to snicker, but this seems so silly

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to me. They did this. We've seen this movie. The

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Texas legislator is left four years ago and they went

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to Washington, DC, and they stayed for I think something

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like thirty some days, a little more than a month,

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until some of them finally cracked and went home. Living

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in a motel room or hotel room gets real old,

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real fast, and so they are parked mostly in Illinois.

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The silly part about all this is everybody's giving high

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mighty speeches about how they're protecting democracy and this is

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unheard of and nobody has done things like this when

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Illinois is If you haven't seen it by now, you

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should look it up. The congressional maps talk about talk

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about jerrymandering. The lines are squiggly all over the place

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so that they carve out just the right number of

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places to elect Democrats. They've done it. California has done it,

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New York has done it. They have Jerry Mander to

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get more of the people that are in power, more

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of them, namely Democrats in those three states. So is

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this right? I don't like it. I didn't like it

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when California did it, or Illinois or New York. But

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that's what's going on right now, and they're acting like

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this is something that they just can't believe. Well, they've

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done it themselves many many times. So guess who's leading

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the fundraising to provide money for the legislators that are

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on the run. None other than Beto or Rock. He

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can't get elected, dogcatcher, but he's out there crying about

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all of this. Here's a little of Beto and is

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crying about the fact that the democracy is at stake.

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Speaker 7: I was in Nebraska last night where we were talking

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about winning the second congressional district currently held by Don

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Bacon to advance the opportunity for Democrats to hold power

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in the House of Representatives, because that matters more than

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anything else right now. It matters more than being right.

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It matters more than any other party we have to

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stop their power grab. We have to win power, and

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then we have to use it to provide a check

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on Donald Trump and to deliver for those folks that

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you're talking about right now. Only with that power are

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we going to be able to help America. And those

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fifty six Texas Democrats right now are giving us the

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best chance that we have. We've got to have their back.

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It ends with Democrats win in power. I think for

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far too long, my party has been more concerned with

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being right and coloring within alliance, and they've cared about

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being in power, while the other side only cares about power,

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regardless of what is right, what is ethical, what is legal.

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Even so, we've got to take the gloves off and

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we've got to fight them, and we've got to seize

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the initiative and stop waiting for these would be fascists

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to land the punch and throw ours first and throw

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it harder. And that's what I'm starting to see from

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some of these democratic governors across the country, and so

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more of that, and I think these Texas Democrats have

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inspired them, have set the example, and have shown the

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way I think the election of twenty twenty six is

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going to be decided in the summer of twenty twenty five,

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so we have to fight now and every day going forward.

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Speaker 2: So did I get that right that he's basically he's

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pitching the idea that we have to have we the Democrats,

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have to have the power because the Republicans now have

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the power, and we can't let them have the power.

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We want the power. That's what it is. It's a

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power grab and it's all about them. Is not going

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to help you one iota. Going back to Illinois, by

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the way, the interesting thing about that state, if you

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look at the crazy Jerrymander districts that they've drawn to

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make sure that they have more Democrats than Republicans, they

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have in the legislature in Illinois, they've got three Republicans

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and they've got seven Team Democrats, So it's overwhelmingly a

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Democrat run state. But Donald Trump won forty four percent

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of Illinois, so it doesn't reflect the reality of the

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people and their political positions.

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Speaker 8: Seriously, you're talking about preserving democracy when the president wins

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forty four percent of the state and the Republicans only

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have three out of seventeen as less than twenty five

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percent of the congressional districts have a majority, read a

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seat out of a state where the president of forty

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four percent. The numbers just don't add it the math.

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It doesn't work. We're talking about the Jerry Mandarin capital

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of the world. Illinois. Please stop talking.

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Speaker 2: Well, they should stop talking. But you know how the

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thing is is that because we've seen this movie, you

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know it's not going to end the way they wanted to.

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They're just going to burn through money. They're going to

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sit in wherever they are, Chicago or somewhere in New York.

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Thirty days will go by, and they'll go back to

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Texas and this redistrict team will pass, and then there's

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some democratic states that will try to do the same thing.

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The thing about it is they don't have The Democrats

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or the Republicans don't have any guarantee that redrawing the

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lines is going to give them more votes. There may

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be a backlash from the voters for redrawing the lines,

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but usually it works. Listen to this lady. She's one

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of the Texas legislators, and she's comparing the importance of this. Sadly,

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she doesn't understand history. She compares this to the Holocaust courted.

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Speaker 9: I mean, we will lose all of our rights. And

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if you think it can't happen, it can. And I

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will liken this to the Holocaust. People are like, well,

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how did the Holocaust happen? How is somebody in a

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position to kill all these people? Well, good people remain

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silent or or good people didn't realize that what happens

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to them can very soon happen to me or somebody

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I love.

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Speaker 2: That's just got to be insulting. There were millions of

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Jews that were killed during the Holocaust, and this lay

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thinks all of her rights are going to be Now,

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my question for you is is she stupid or does

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she think that you're stupid? It's one of the two,

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because that's where I think she's stupid. She just thinks

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all of her rights are going to be taken away.

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Back to Tim Scott, Senator's God, it wraps it up.

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Speaker 8: Bottom line is overing this making comparisons that have nothing

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to do with one another doesn't make it better. It

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makes it worse. Actually, people see through that it's a veil.

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The truth of the matter is that they've lost their

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minds and they're losing their voters. As a result, they're

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looking for some way of holding on to the very

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little power they have. Think about what the Democrats have

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done to minority communities around the country. They have devastated

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minority communities. Why they were more interested in the power

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than the progress of the very people they represent. That's

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why President Trump has this new working class coalition. The

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forty eight percent of Hispanic men vote for President Trump,

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thirty plus percent of African American men vote for President Trump,

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or fifty percent of Native Americans vote if for President Trump,

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that means redistricting. As you see these states fill full

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of more people. They're going to redraw those maps so

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as to maximize the opportunity of the new citizens who

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say free at last, Free at last. They want to

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experience it. And President Trump is delivered. The Democrats are

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scared to death.

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Speaker 2: One more point. On this last time they ran off

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to Washington, d c. For thirty six days. The tariff

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for all of that, the cost of the meals and

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hotel rooms and airlines and all that stuff, five hundred

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thousand dollars, So better or work was asked about, wouldn't

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that money be better served by spending it on people

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who need help. He didn't have an answer, and he

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just keeps coming back to and he says it out

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loud that this is more more important than being right.

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This is everything to them. It's sadly hysterical at the

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very least. All right, speaking of sadly hysterical, let's get

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you updated on the Epstein story that won't go away,

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because there's a big dinner tonight over at the Vice

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President's house. Yep jd Vance is hosting the dinner and

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at the dinner will be Pam Bondi, Cash Battel, Susie Weiss,

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chief of staff, Todd Blanche, the number two at the

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DOJ that went and interviewed Julane Maxwell, and of course

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hosted by the Vice president. They're going to be debating

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what to do. This isn't hard at all. David Urban,

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who is a Republican spokesman, kind of lays it out

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this way.

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Speaker 10: Yeah, listen, I don't disagree with Karen that this is

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that there are many, many, you know, thousand plus young

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girls victimized here. I don't think that the Trump administration

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is ignoring them at all. I think, if anything, they're

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trying to be sensitive to not disclosing that. I do

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agree with Karen that, you know, the subpoenas that came

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from the House, everyone was saying, well, who's Trump. You know,

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President Trump is conspiculously absent. I think the person who's

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conspiculously absent from that subpoenaist is alex Acosta and the others,

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and that US Attorney's office in Miami to cut this

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plea deal. If you really want to get to the

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numb of this issue, bring them before the committee, have

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them testify, peel back the onion and find out why

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the deal was cut that was cut originally with Epstein,

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and we'll get to the bottom of it. That's the

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quickest way to get an answer here, I think, much

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more quickly than anything else. And so I do I

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disagree with Karen that this administration is looking past these

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young victims. I do agree with Karen that alex Acosta

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probably has more answers than anybody else.

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Speaker 2: Yeah, if you don't remember, alex Acosta was the former

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US attorney in South Florida and was the one who

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signed off on basely a little slap on the risk

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for Jeffrey Epstein back when he first got caught back

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in the early two thousands, and he wound up being

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Secretary of Labor in Trump one point zero. So he

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has just disappeared. But I think David's onto something. Get

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him back. Let's find out where all of this first

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started being buried, and you'll get some answers pretty darn quick.

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Christ Nunu, former Governor of New Hampshire, this is his

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take on it.

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Speaker 11: Look, I think you have to rip the band aid

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off and release everything. It's all going to come out.

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We're all going to figure out at some point. The

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Trump administration has the opportunity to live up to what

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they said they were going to do and just rip

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the band aid off and open it all out. And so,

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I mean, I think that's what's happening. I think there's

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probably some very interesting information given in those interviews. He

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saw her now being transferred to another facility. So clearly

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they were happy with the interview that took place, and

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now they're going to have yet another discussion. And now

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that this has been made so public, the discussion has

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happened happening, they're setting a real expectation. I mean, how

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do they have this discussion and then not release a

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lot of information off of it? Right, because the expectation

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is built up not just with the conservative base, but

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really with all Americans. It's both sides. This isn't actually

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a political issue at all. Every American wants to know

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that there isn't a the haves and the have noth

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The elitists get protected and everyone else has to play

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by a different set of rules. This is the administration's

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opportunity to open all that up and really clear the decks,

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if you will, and set a precedent that this stuff

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isn't going to be tolerated anymore.

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Speaker 2: In some tariff slash business news, Tim Cook, CEO of Apple,

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had a meeting in this afternoon with the President in

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the Oval Office. He brought with him a message that

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in addition to the five hundred billion dollars that Apple

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has previously said they're going to invest here in the

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United States, he added another one hundred billion to it today.

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So Apple is going to invest six hundred billion dollars

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to boost their US investment. So there's some sort of

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announcement that was supposed to come out of the White House.

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Haven't received it by the time we started with this.

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This gets interesting too, because the President, like I told you,

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earlier raised the tariff on India by fifty percent of

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fifty percent tariff, not by fifty fifty percent tariff on everything.

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Remember Tim Cook said, oh, we'll move a whole bunch

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of our production of Apple iPhones over to India. Well

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that won't work anymore. So here comes Tim Cook into

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the White House saying, yeah, we'll spend another one hundred

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and fifty billion dollars here. By the way, for those

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of you that Apple, you know, people think a lot

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of these big corporations they get away with whatever Apple

439
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has paid in the last five years seventy five billion

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dollars in taxes to the United States government. They're one

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of the biggest tax payers in the country. So we'll

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see what happens out of him bringing an extra hundred

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billion to the table. Told you yesterday about the Aspen

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Institute is having their big summer. Soare and a lot

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of big, big people, important people are there. Neil Kashkari

446
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is I think, very smart, smart, smart guy. He is

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on the FED. He's part of the Federal Open Market Committee.

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He's a voting member. He's a president of the Minneapolis

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Federal Reserve Bank, and he's at the Aspen Institute, and

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in the interview he had today, he made it clear

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that he thinks things are slowing down, and he thinks

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there's maybe two more rate cuts by the FED before

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the end of this year.

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Speaker 6: It's uncertain. I mean, there's a lot of the Feds

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in the news for a lot of reasons outside of

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just economics, and so that can be a distraction. And

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so it's just a reminder, keep focusing on the data,

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keep focusing on our jobs, and that's what we have

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to do, and that's what we are doing. There's two

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categories of data that I'm focused on. There's a bunch

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of data that I know and then I've got confidence

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in and there's data that i don't know and we're

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not going to know for a while. The data that

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I think we know is that the economy is slowing.

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Housing services inflation is gently declining, non housing services inflation

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is coming down, wage growth is coming down. We've seen

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the jobs number, and consumer spending is cooling. All of

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that suggests the real underlying economy is slowing. I've got

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confidence that that is happening. The part that I don't

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have confidence yet is what are the ultimate effects of

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tariffs going to be on inflation, And what I'm realizing

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is we may not know the answer to that for

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quarters or a year or more. And that tells me

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as one policy maker, I need to start leaning more

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on the data that I've got confidence in the economy

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is slowing, and that means in the near term it

477
00:27:48,119 --> 00:27:51,359
may become appropriate to start adjusting the federal fundry. I mean,

478
00:27:51,400 --> 00:27:54,160
I think the economy is held up remarkably well. I

479
00:27:54,160 --> 00:27:57,079
think these tariff shocks are unlike anything that we've seen

480
00:27:57,119 --> 00:28:00,319
in one hundred years virtually, and it's take in a

481
00:28:00,359 --> 00:28:03,680
while for businesses to try to process it, for policymakers

482
00:28:03,680 --> 00:28:05,880
to try to process it, and they've just been delayed.

483
00:28:05,880 --> 00:28:08,359
And if you look at the average effective tariff that's

484
00:28:08,440 --> 00:28:11,359
being paid at the border, it's around ten percent. It's

485
00:28:11,400 --> 00:28:14,200
been climbing now month after month. It's well short of

486
00:28:14,200 --> 00:28:17,240
the sixteen percent headline rate. And so should we react

487
00:28:17,240 --> 00:28:20,680
as policymakers to the headlines or should we react to

488
00:28:20,720 --> 00:28:24,119
what's actually affecting the economy. And that's what's making these

489
00:28:24,200 --> 00:28:27,680
judgments difficult. I think tariffs are more complicated. Are your

490
00:28:27,680 --> 00:28:29,759
competitors going to do it or not? You know, I

491
00:28:29,799 --> 00:28:32,920
was in Montana recently a small business. She runs a

492
00:28:32,960 --> 00:28:35,839
small restaurant company. I said, how did you protect yourself

493
00:28:35,880 --> 00:28:39,000
against tariffs? She said, in late January she bought a

494
00:28:39,079 --> 00:28:42,039
year's worth of bamboo shoots from abroad and stored them

495
00:28:42,240 --> 00:28:45,440
to protect her and her customers from tariffs. It's remarkable

496
00:28:45,480 --> 00:28:47,839
that that happened at such a little company and at

497
00:28:47,839 --> 00:28:50,240
big companies. So that's also why we have not yet

498
00:28:50,279 --> 00:28:52,839
seen the full effects. People are working down these inventory

499
00:28:53,000 --> 00:28:54,799
right now. The economy is slowing, and I think that

500
00:28:54,839 --> 00:28:57,039
we're going to have to respond to that as the

501
00:28:57,079 --> 00:28:59,200
inflation data starts to come up. We're seeing it now

502
00:28:59,200 --> 00:29:01,720
in core goods. But how high is that going to get?

503
00:29:01,920 --> 00:29:04,240
Is it going to spill over into other categories, and

504
00:29:04,359 --> 00:29:05,920
is it going to be persistent. We're not going to

505
00:29:05,920 --> 00:29:07,519
know the answer to that for a long while. I'm

506
00:29:07,559 --> 00:29:10,920
assuming the tariffs will be persistent. Whether the tariff effects

507
00:29:11,000 --> 00:29:14,079
on inflation are persistent is the question that central bankers

508
00:29:14,119 --> 00:29:16,319
care a lot about and that we're not going to

509
00:29:16,359 --> 00:29:18,319
know for a long time. And does it bleed over

510
00:29:18,319 --> 00:29:21,519
into inflation expectations. So the path that I think about,

511
00:29:21,599 --> 00:29:23,200
you know, I put down two rate cuts in my

512
00:29:23,319 --> 00:29:27,079
December last year December Summary of Economic Projections for twenty

513
00:29:27,119 --> 00:29:30,440
five I maintained two. In March I maintained too. In June.

514
00:29:30,759 --> 00:29:32,960
Two still seems reasonable to me for the end of

515
00:29:32,960 --> 00:29:35,200
the year, so two more potentially, But now we've got

516
00:29:35,240 --> 00:29:37,079
a lot of data to come in. But sitting here today,

517
00:29:37,119 --> 00:29:39,799
I could see two rate cuts this year. But if

518
00:29:39,839 --> 00:29:41,920
it turns out the tariffs are having a bigger effect

519
00:29:41,960 --> 00:29:44,880
on inflation and it's more persistent, we could do one

520
00:29:44,960 --> 00:29:46,960
or more rate cuts and then we could pause.

521
00:29:47,640 --> 00:29:50,240
Speaker 2: So one or two rate cuts, one or two more

522
00:29:50,319 --> 00:29:54,000
rate cuts and then pause, or maybe another rate cut

523
00:29:54,119 --> 00:29:57,960
or raise interest rates if inflation is being driven higher

524
00:29:58,119 --> 00:30:01,640
by tariffs. So that's Neil Cashkari. I think he's a

525
00:30:01,720 --> 00:30:05,039
very straight shooter about what they're thinking about regarding the FED,

526
00:30:05,079 --> 00:30:08,039
and they're trying to get their wrap their arms around

527
00:30:08,559 --> 00:30:11,279
what might happen, but they don't want to they don't

528
00:30:11,319 --> 00:30:15,119
want to take action until something does happen. So the

529
00:30:15,119 --> 00:30:18,680
next meeting of the FED is mid September, and that's

530
00:30:18,720 --> 00:30:21,920
when a lot of people in Cashkary just said it

531
00:30:22,160 --> 00:30:26,079
think that they will probably drop interest rates in September.

532
00:30:26,599 --> 00:30:29,559
He was also besides interestrate. She was also asked about

533
00:30:30,400 --> 00:30:35,119
the Bureau of Labor Statistics, and you, as a policymaker,

534
00:30:35,440 --> 00:30:39,799
can you rely upon the numbers coming out of the BLS?

535
00:30:40,519 --> 00:30:44,799
Because Janet Yellen, the former Treasury secretary, listen to what

536
00:30:44,880 --> 00:30:47,839
she thinks, she thought that the numbers coming out of

537
00:30:47,880 --> 00:30:49,359
BLS were gold.

538
00:30:49,480 --> 00:30:56,319
Speaker 5: Well, I was appalled. You know, our statistical agencies have

539
00:30:56,440 --> 00:31:02,359
set the gold standard globally for quality of our statistics.

540
00:31:02,920 --> 00:31:09,200
They're universally trusted and have never, to the best of

541
00:31:09,240 --> 00:31:12,960
my knowledge, been subject to political manipulation.

542
00:31:13,880 --> 00:31:17,920
Speaker 2: That is just classic Jennet Yellen. Yes, of the Bureau

543
00:31:17,920 --> 00:31:21,759
of Labor Statistics numbers, they are golden and have been

544
00:31:22,400 --> 00:31:26,559
completely relied upon. Everybody thinks that they're reliable. No, they're not.

545
00:31:27,279 --> 00:31:30,279
They've been way off, And she has her head in

546
00:31:30,319 --> 00:31:33,880
the clouds and just ignore the fact that the numbers

547
00:31:33,880 --> 00:31:36,559
have been way off and have to be revised by

548
00:31:36,799 --> 00:31:43,039
huge numbers, hundreds of thousands of jobs. So anyway, cash

549
00:31:43,039 --> 00:31:45,720
Car says they rely upon a lot of other data

550
00:31:46,599 --> 00:31:50,359
besides the Blso he was being kind. He didn't say

551
00:31:50,400 --> 00:31:53,160
he relied upon them, but he says, we have a

552
00:31:53,160 --> 00:31:55,920
lot of data that we look at and doing a

553
00:31:55,960 --> 00:31:58,920
little look back on this day in history. It was

554
00:31:59,119 --> 00:32:04,720
eighty years yars ago that we dropped a B twenty

555
00:32:04,799 --> 00:32:10,920
nine dropped atomic bomb on another country. It was on

556
00:32:11,000 --> 00:32:13,839
this day, eighty years ago that we dropped what they

557
00:32:13,880 --> 00:32:16,319
had a name for it called Little Boy. But the

558
00:32:16,359 --> 00:32:20,400
B twenty nine dropped the first nuke ever on Hiroshima

559
00:32:20,519 --> 00:32:23,640
or Hiroshima however you want to put the syllables. And

560
00:32:23,680 --> 00:32:27,799
then three days later we dropped the second one on Nagasaki.

561
00:32:28,079 --> 00:32:30,920
And the thing about this is it brought It was

562
00:32:31,000 --> 00:32:33,640
exactly what the plan was was to bring World War

563
00:32:33,759 --> 00:32:37,759
two to an end, and it did. The Japanese said,

564
00:32:37,839 --> 00:32:40,480
that's it. We're thrown in the towel, and we don't

565
00:32:40,480 --> 00:32:44,039
know how many lives, can't you can't determine what never happened.

566
00:32:44,400 --> 00:32:47,319
But the numbers of lives that were that were saved

567
00:32:47,960 --> 00:32:52,000
by ending the war right away or were huge numbers

568
00:32:52,039 --> 00:32:56,720
by anybody's admission. So on this eightieth anniversary of the

569
00:32:56,759 --> 00:33:03,839
first nuke to be used, the bomb was fifteen tilotons,

570
00:33:04,839 --> 00:33:09,359
which compared to today's nuke bombs, we have one point

571
00:33:09,359 --> 00:33:15,160
two megatons are bombs today. Nuke bombs are eighty times

572
00:33:15,200 --> 00:33:19,880
more powerful than they were eighty years ago when we

573
00:33:19,960 --> 00:33:23,839
dropped the two bombs in Japan. There's nine countries that

574
00:33:23,920 --> 00:33:31,400
have nukes, supposedly US and Russia, China, France, United Kingdom,

575
00:33:32,119 --> 00:33:38,079
India and Pakistan, North Korea and Israel. Israel never admits

576
00:33:38,079 --> 00:33:40,519
that they have the nukes, but France is the one

577
00:33:40,759 --> 00:33:45,279
back in the nineteen fifties who got the nuke information

578
00:33:45,519 --> 00:33:50,440
right away, so they basically taught the Israelis how to

579
00:33:50,920 --> 00:33:55,160
build a nuke bomb. So that's your nuclear history on

580
00:33:55,240 --> 00:34:00,279
this August sixth, where it was, It changed the war,

581
00:34:00,960 --> 00:34:05,200
put a war to the end. On Wall Street today,

582
00:34:06,119 --> 00:34:11,079
market was up okay, wasn't anything to write home about.

583
00:34:11,519 --> 00:34:16,760
Dow up eighty one points at forty four thousand and s,

584
00:34:16,800 --> 00:34:20,360
and P up forty five, Nasdaq up two hundred and

585
00:34:20,360 --> 00:34:24,239
fifty two. The price of gold fell three dollars to

586
00:34:24,360 --> 00:34:27,119
thirty four to thirty one, and oil fell a buck

587
00:34:27,199 --> 00:34:30,320
down to sixty four dollars for one barrel of oil.

588
00:34:30,920 --> 00:34:33,599
Thank you for coming by today. I hope you have

589
00:34:33,679 --> 00:34:36,119
a wonderful rest of your day, and we'll try this

590
00:34:36,199 --> 00:34:38,119
again tomorrow. Hope to see you then,