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<v Speaker 1>And Hi, how are you welcome to the Big Podcast

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<v Speaker 1>on this Monday. Today's the twenty fourth day of November.

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<v Speaker 1>Year of our Ward twenty and twenty five. My name

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<v Speaker 1>is Tom Sullivan. And so off we go. Yep, everybody,

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<v Speaker 1>Well I don't know if everybody's going, but yeah, we

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<v Speaker 1>kick off that well kickoff probably Friday night. But Thanksgiving

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<v Speaker 1>travel week one of the busiest of the year. And

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<v Speaker 1>we look here, I've got the eighty eighty one million

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<v Speaker 1>people are supposed to be traveling or Thanksgiving. I it's

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<v Speaker 1>not John Berman earlier today talking about this, and he

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<v Speaker 1>said said, why do you what's wrong with staying home?

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<v Speaker 1>What's wrong with not having to put up with cousin Eddie?

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<v Speaker 1>But eighty one million people are going to mostly get

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<v Speaker 1>in the car. Eighty nine percent of the people traveling

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<v Speaker 1>will be traveling by car, So obviously you don't have

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<v Speaker 1>that far to go. I think most people stay where

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<v Speaker 1>they grew up and where their family, their siblings, their parents,

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<v Speaker 1>their cousins, their nephew, what their children live. But my

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<v Speaker 1>family were scattered all over the country. So eighty one

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<v Speaker 1>million traveling eighty nine percent by car, only seven percent

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<v Speaker 1>by air. But you would think it was the end

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<v Speaker 1>of the world. They go to the airport. Reporters go

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<v Speaker 1>there and they find a whole bunch of people that

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<v Speaker 1>are miserable for some reason, and they interview them. So

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<v Speaker 1>there's a handful of a smaller percentage that go by

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<v Speaker 1>I don't know by what else they go by train,

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<v Speaker 1>I guess. So it's going to be busy, but it's

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<v Speaker 1>spread out this week. I mean, like I said, some

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<v Speaker 1>people probably pushed off on Friday, some over the weekend,

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<v Speaker 1>some today. There are lines at the airports already being reported,

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<v Speaker 1>and the busiest travel days will be next Sunday. That's

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<v Speaker 1>the busiest travel day. So I go back to what's

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<v Speaker 1>want with just stay where you live. So in any case,

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<v Speaker 1>look at people get it's wonderful to get together. But

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<v Speaker 1>the stories, I just find that there's a lot of

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<v Speaker 1>comedy involved in some of the dysfunctional family stories out there.

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<v Speaker 1>And I don't know why I find it so funny.

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<v Speaker 1>Maybe I can relate. I don't know. By the way, yesterday,

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<v Speaker 1>so we weren't doing a podcast yesterday, but yesterday was

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<v Speaker 1>a big historical date. This is who I'm talking about.

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<v Speaker 2>And so my fellow Americans ask not what your country

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<v Speaker 2>can do for you? Ask what you can do for

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<v Speaker 2>your country?

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<v Speaker 1>Yeah, so that was JFK taking his inauguration January twentieth,

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<v Speaker 1>nineteen sixty one. I did the math sixty two years ago,

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<v Speaker 1>and so it's not one of the big you know,

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<v Speaker 1>the fiftieth, they're the hundredth or whatever the way we

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<v Speaker 1>do our odometer readings. But it's it's a big deal

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<v Speaker 1>because there he was, you know, signing up for the

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<v Speaker 1>job that was going to wind up causing his death

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<v Speaker 1>a couple of years later. But I thought about what

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<v Speaker 1>he has said so many times. It was nineteen sixty one,

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<v Speaker 1>different time, different culture, but it's a really simple statement.

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<v Speaker 1>I don't know who wrote that for him, but ask

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<v Speaker 1>not what your country can do for you? Well, that's

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<v Speaker 1>what That's the basic. That's the way people live today.

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<v Speaker 1>We have millions and millions of millions and millions of

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<v Speaker 1>Americans that are asking, Hey, what can the country do

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<v Speaker 1>for me? What you want me to do something for

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<v Speaker 1>the country? What what are you talking about? So it

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<v Speaker 1>is flipped completely and I would imagine that President Kennedy

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<v Speaker 1>has probably flipped a couple of times in his grave

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<v Speaker 1>just thinking about it's such a simple statement that was

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<v Speaker 1>basically at the end of a fairly long inaugural dress.

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<v Speaker 1>So that's where we are. So our current president. It's

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<v Speaker 1>interesting to watch the ratings on him. You find ratings

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<v Speaker 1>that say he's got lousy ratings, he's got lousy support.

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<v Speaker 1>The question comes down to do the Republicans still support him.

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<v Speaker 1>We're going to get into Marjorie Taylor Green too, who

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<v Speaker 1>said she's going to resign in January. But Harry Anton

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<v Speaker 1>did a quick check to find out are Republicans still

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<v Speaker 1>supporting President Trump?

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<v Speaker 3>Look, this is still Donald Trump's Republican party, and we

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<v Speaker 3>can see it here.

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<v Speaker 1>They it's like a rock.

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<v Speaker 3>To quote Bob Seeger, I mean, take a look here

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<v Speaker 3>Republicans who approve of Trump. Six months ago, it was

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<v Speaker 3>eighty seven percent. Now, well, hello, it's the same number.

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<v Speaker 3>It's eighty seven number. He has not lost any support

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<v Speaker 3>among Republicans compared to six months ago. As I said

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<v Speaker 3>at the beginning, he's like a rock. He's like a rock.

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<v Speaker 3>The Republican base is sticking by Donald Trump at this point.

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<v Speaker 1>So what about all this talk of him losing support?

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<v Speaker 1>Who does that come from?

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<v Speaker 3>It is among independents, It is not among Republicans. Oh yeah, okay,

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<v Speaker 3>I think this gives the game away, right, which is

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<v Speaker 3>Donald Trump. If you look at twenty first century president's

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<v Speaker 3>own party approval at this point in term two, who

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<v Speaker 3>leads the pack, It's Donald John Trump. Eighty seven percent

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<v Speaker 3>of Republicans approved Donald John Trump. You go back to

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<v Speaker 3>twenty thirteen, seventy eight percent of Democrats supported Barack Obama,

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<v Speaker 3>and it was seventy eight percent of Republicans who supported

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<v Speaker 3>George W. Bush back in two thousand and five. At

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<v Speaker 3>this point, so Donald Trump has the biggest own party

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<v Speaker 3>highest own party approval of any president who served their

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<v Speaker 3>entire second term in the twenty first sent You know,

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<v Speaker 3>when you go up against Donald Trump, you're going up

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<v Speaker 3>against a buzzsaw because Donald Trump's endorsement record is it's

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<v Speaker 3>hard to find anyone else who beats it. Times Trump

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<v Speaker 3>endorsees one GOP primaries. In twenty twenty it was ninety

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<v Speaker 3>eight percent, twenty twenty two is ninety five percent, in

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<v Speaker 3>twenty twenty four it was ninety six percent. And I

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<v Speaker 3>will note the majority of times that Donald Trump backed

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<v Speaker 3>a challenger to an incumbent like Marjorie Taylor Green, that

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<v Speaker 3>challenger won a majority of the time. The bottom line

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<v Speaker 3>is this, there was a real reason why Marjorie Taylor

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<v Speaker 3>Green decided, you know what, it's not worth the fight,

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<v Speaker 3>because more times than not, when you go up against

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<v Speaker 3>Donald Trump in a Republican primary, you lose. All right,

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<v Speaker 3>So we go to the prediction markets here and the

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<v Speaker 3>chance to leave the Republican Party by January first of

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<v Speaker 3>twenty twenty seven. You can see it thirty one percent.

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<v Speaker 3>I think this is a pretty good baseline, which is

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<v Speaker 3>more likely than not Marjorie Taylorgrean will stay within the

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<v Speaker 3>Republican ranks. But there's actually a pretty decent chance that

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<v Speaker 3>she doesn't. And then that becomes really interesting to see

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<v Speaker 3>what she has to say about Republicans and Donald Trump

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<v Speaker 3>in particular, if she decides to waigh Audios Amiga.

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<v Speaker 1>So, Marjorie Taylor Green is not just your average ordinary

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<v Speaker 1>member of Congress. She said over the weekend she's going

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<v Speaker 1>to resign from her position in Congress on January sixth.

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<v Speaker 1>Interesting date. She's had a split with President Trump on

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<v Speaker 1>the Epstein files in a big way. She also split

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<v Speaker 1>with him on the H one B visus. She doesn't

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<v Speaker 1>like them. President does like them. Split with him on

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<v Speaker 1>AI regulations by state. She wants to have states be

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<v Speaker 1>able to regulate AI. President doesn't. I don't want them

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<v Speaker 1>to either. You're going to get a patchwork of AI

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<v Speaker 1>regulations that will not work. And also just foreign and tagma.

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<v Speaker 1>She doesn't want anything to do with foreign wars, and

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<v Speaker 1>the president's been involved in skirmishes. So we'll see what

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<v Speaker 1>she does. She says she's not running for president, but

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<v Speaker 1>we'll also see just exactly how the magacrowd what they do,

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<v Speaker 1>because she was kind of the mama of the mega

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<v Speaker 1>operation out there. One other, a big personality that popped

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<v Speaker 1>up actually late on Friday. We were done with recording

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<v Speaker 1>the podcast on Friday when they came out of the

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<v Speaker 1>White House, And wasn't that something between the President and

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<v Speaker 1>Zaron Mam Donnie. I mean, it was a LoveFest. There

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<v Speaker 1>were a couple of political bros just hanging out. I

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<v Speaker 1>I don't know what you thought about that, but everybody

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<v Speaker 1>was on their very best behavior. Mark Seeson, this is

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<v Speaker 1>his observation.

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<v Speaker 4>Well, because he doesn't want to be the scapegoat for

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<v Speaker 4>Donnie's failure. Socialism is going to fail because it fails

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<v Speaker 4>everywhere where. It's tried, and so Mom Donnie's excuse if

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<v Speaker 4>socialism fails in New York is to say, well, Trump,

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<v Speaker 4>Trump waged war on New York and punished New York

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<v Speaker 4>for my election, and that's why it didn't work. So

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<v Speaker 4>you know that Trump doesn't want to bail out socialism,

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<v Speaker 4>but he also doesn't want to be his his fall guy.

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<v Speaker 4>But the problem that zer Mandanni has is that socialism

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<v Speaker 4>only works if it has an external revenue source to

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<v Speaker 4>subsidize it. Right, So during the Cold War, Cuba was

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<v Speaker 4>bailed out by massive subsidies from the Soviet Union. It

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<v Speaker 4>looked like it was working fine because they were getting

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<v Speaker 4>hundreds of billions of dollars from Moscow. But then Soviet

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<v Speaker 4>Union collapsed because socialism didn't work there and all the

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<v Speaker 4>subsidies drive it up and it became an economic basket case.

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<v Speaker 4>It's going to be the same problem with Mom Dominie

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<v Speaker 4>in New York. Who is going to be his Moscow

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<v Speaker 4>to subsidize the government grocery stores and the free buses.

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<v Speaker 4>It's not gonna be Trump Trump. The federal government isn't

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<v Speaker 4>going to subsidize socialism, so he wants it to be

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<v Speaker 4>Kathy Hochel he wants her to raise taxes on all

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<v Speaker 4>of New Yorkers, so across the state, income taxes, corporate

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<v Speaker 4>tax everything to subsidize free buses and free and government

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<v Speaker 4>grocery stores in New York City. That's going to be

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<v Speaker 4>a huge, huge problem because at least to Phonic is

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<v Speaker 4>going to wrap that around her axle if she does it.

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<v Speaker 1>And if you're not sure of what that reference was about, Alistaphonic,

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<v Speaker 1>she is the Republican uptate New York that is running

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<v Speaker 1>for or governor against Kathy Hochel. So that was what

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<v Speaker 1>Mark Fisson was referring to. As far as Mam Donnie,

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<v Speaker 1>we'll seize them. Something has to give there. Either he's

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<v Speaker 1>going to change, Mam Donnie's going to change, or it's

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<v Speaker 1>going to be nothing but problems. We'll have to wait

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<v Speaker 1>and see. While we're on the subject of socialists, Venezuela

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<v Speaker 1>is blessed with lots of resources, mainly oil and gas,

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<v Speaker 1>and they had so much that Hugo Chavez basically took

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<v Speaker 1>over all the private oil companies and promised the people

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<v Speaker 1>of Venezuela that he would take all the profits from

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<v Speaker 1>those evil oil companies and distribute them to the people

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<v Speaker 1>they would be getting rich all the people. And you

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<v Speaker 1>know what happened is that did not happen, and as

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<v Speaker 1>a result, the people rebelled. Chavez died Ugo. I mean,

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<v Speaker 1>Maduro just had They had an election there to re

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<v Speaker 1>elect him, and he lost by huge amounts according to

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<v Speaker 1>all the outside observers, but he proclaimed that he was

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<v Speaker 1>the winner, and so he stays in office. But things

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<v Speaker 1>are getting tense. Victoria Coats, former national security officer, says, yeah,

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<v Speaker 1>with all the build up of the military, something's got

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<v Speaker 1>to go there now.

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<v Speaker 5>There's nothing covert going on that I can see. We

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<v Speaker 5>have our most modern, our most capable aircraft carrier, the

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<v Speaker 5>Gerald R. Ford, off the coast of Puerto Rico. We

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<v Speaker 5>have the Chairman of the Joint Chiefs of Staff, as

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<v Speaker 5>Lucas was just saying, General Dan Caine, also in Puerto Rico,

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<v Speaker 5>and the biggest military build up we've had since a

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<v Speaker 5>rock going on in the Caribbean. And so, you know,

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<v Speaker 5>this isn't subtle at all. I think President Trump has

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<v Speaker 5>tried with diplomacy to get a change out of the

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<v Speaker 5>Maduro regime. All we've seen, though, are more drugs pouring

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<v Speaker 5>across our southern border. Pouring into our country, killing our citizens.

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<v Speaker 5>That's what he's not going to stand for. So I'm

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<v Speaker 5>sure he would offer Maduro an off ramp, perhaps to

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<v Speaker 5>go to Russia. But I don't think he's staying in Venezuela.

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<v Speaker 1>But we have, like like she said, the largest built

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<v Speaker 1>up dens of rock. We got all kinds of military

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<v Speaker 1>surrounding Venezuela. Is it just about Venezuela or are we

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<v Speaker 1>talking about the entire drug industry coming out of South America?

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<v Speaker 5>Well, this for sure. I mean Venezuela is the head

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<v Speaker 5>of the snake, and so I think the logic would

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<v Speaker 5>be that given some interesting recent political changes in countries

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<v Speaker 5>like Bolivia and Chile, both of which are trending toward

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<v Speaker 5>a more conservative government, more friendly to Washington, you have

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<v Speaker 5>elections also coming up in neighboring Colombia coming up in March,

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<v Speaker 5>which also look like they're going to go conservative. If

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<v Speaker 5>you flip Venezuela right now, then I think all of

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<v Speaker 5>that change sort of falls into place. So I think

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<v Speaker 5>that should be the key target here.

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<v Speaker 1>Well, you can see the vision that Donald Trump has.

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<v Speaker 1>He wants to change Latin Americameric in South America into

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<v Speaker 1>friends in our hemisphere instead of battling against the drug

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<v Speaker 1>cartels in at least South American countries. And I haven't

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<v Speaker 1>even talked about what they're going to do in Mexico.

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<v Speaker 1>But with all of this, something's going to happen. According

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<v Speaker 1>to Victoria Coachs, within the next couple of weeks at

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<v Speaker 1>the very least, President said he wants to have a

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<v Speaker 1>conversation a phone call with Maduro.

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<v Speaker 5>Well, the President has said he's very willing to talk.

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<v Speaker 5>You know, he's always going to choose diplomacy if that

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<v Speaker 5>is possible. And as I said, there could be an

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<v Speaker 5>off ramp for Maduro. We have putin hosting, for example,

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<v Speaker 5>Beshier Alasade, who was ousted this time last year US

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<v Speaker 5>from Syria. So maybe Maduro joins him in Sochi and

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<v Speaker 5>you know, is able to keep some of his billions

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<v Speaker 5>and have a retirement of sorts. If you will, bet

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<v Speaker 5>that we could then have a much more democratic, free

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<v Speaker 5>Venezuela that would be a friend in the United States.

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<v Speaker 1>That's the plan. Try and take some of these South

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<v Speaker 1>American countries and make them into our friends. While we're

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<v Speaker 1>speaking about problems overseas. Ukraine, they've been working over time

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<v Speaker 1>over the weekend, Marco Rubio heading up the crew that

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<v Speaker 1>had been in Geneva talking to Ukraine about a peace agreement.

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<v Speaker 1>What's strange about this is it's the US and Ukraine talking,

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<v Speaker 1>but no, Russia is not there. But somehow Russia is

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<v Speaker 1>responding to what they're hearing from the talks between the

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<v Speaker 1>US and Ukraine. Here's Marco Rubio talking about where they are.

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<v Speaker 6>We arrived here today with one goal, and the goal

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<v Speaker 6>was to take what knows twenty eight points to twenty

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<v Speaker 6>six points depending on which version as it continue to evolve,

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<v Speaker 6>and try to narrow the ones that were open items.

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<v Speaker 6>And we have achieved that today in a very substantial way.

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<v Speaker 6>I think the report today is that I think today

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<v Speaker 6>was worthwhile. It was very very It is probably the

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<v Speaker 6>most productive day we have had on this issue, maybe

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<v Speaker 6>in the entirety of our engagement, but certainly in a

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<v Speaker 6>very long time. Work remains, and because this continues to

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<v Speaker 6>be a working process, you know, I don't want to

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<v Speaker 6>declare victory or finality here. There's still some work to

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<v Speaker 6>be done, but we are much further ahead today at

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<v Speaker 6>this time than we were when we began this morning

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<v Speaker 6>and where we were a week ago.

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<v Speaker 1>For so now, there was a news item over the

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<v Speaker 1>weekend that the President had given Zelensky until Thursday till

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<v Speaker 1>Thanksgiving Day to either fish or cut bait. If you

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<v Speaker 1>don't accept this peace agreement that we came up with,

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<v Speaker 1>then we're leaving you and you're on your own. Well

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<v Speaker 1>that's changed since the weekend. The deal right now that

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<v Speaker 1>is on the table for Russia and Ukraine is as

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<v Speaker 1>far as territory, Ukraine would see the don Esque, lou Hansk, Zapporzia,

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<v Speaker 1>Kierson and Crimea, so they would get rid. They would

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<v Speaker 1>say goodbye to the area that Russia currently occupies. As

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<v Speaker 1>far as security, no NATO in Ukraine, the army, the

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<v Speaker 1>Ukrainian army would be capped at six hundred thousand people

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<v Speaker 1>and there would be no foreign bases from any other

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<v Speaker 1>country anywhere in Ukraine. As far as withdrawals, Russia would

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<v Speaker 1>retreat from parts of Kharkiv. Kharkiv one hundred billion dollars

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<v Speaker 1>in frozen Russian money would be used to rebuild Ukraine.

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<v Speaker 1>Sanctions would be eased against Russia, and as far as

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<v Speaker 1>Ukraine would drop their war crime cases and Russia would

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<v Speaker 1>rejoin the global economic world. So that's the deal that's

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<v Speaker 1>on the table. As we go through this Monday, we'll

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<v Speaker 1>find out if it's a work in process. General Jack

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<v Speaker 1>Keene was asked his thoughts about what's happening with this agreement.

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<v Speaker 7>Well, I think what we're already seeing here is the

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<v Speaker 7>president's determination to end this war. I mean, we saw

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<v Speaker 7>what happened as a result of the Alaska summit. You know,

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<v Speaker 7>Putin made promises that he didn't keep, and then all

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<v Speaker 7>the European leaders came to Washington with Zelenski and they

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<v Speaker 7>all pretty much were unified in their support for Ukraine

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<v Speaker 7>and also for a peace process going forward. And where

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<v Speaker 7>are we today. The reality is the presidents still trying

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<v Speaker 7>to get that wars stop, and we're putting together a

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<v Speaker 7>process to do that. I think what happened here the

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<v Speaker 7>initials document gets out, gets leaked out, and it appears,

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<v Speaker 7>and you know, so I read it just like everybody else,

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<v Speaker 7>to favor Russia at the expense of Ukraine. But what

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<v Speaker 7>was miss is it was an open process here. You know,

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<v Speaker 7>that was the initial document, and the administration welcomed comments

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<v Speaker 7>from friends and partners, Ukraine itself, European allies, and even

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<v Speaker 7>I put together a group of thought leaders in Washington

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<v Speaker 7>yesterday and provided some comments to the administration as well.

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<v Speaker 7>So this process is moving on, and likely that document's

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<v Speaker 7>going to improve and improved rather significantly because it is

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<v Speaker 7>an open process, and I think many people missed that

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<v Speaker 7>in terms of the initial thing that was out there.

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<v Speaker 7>So yeah, it remains to be seen.

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<v Speaker 1>This is tough stuff.

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<v Speaker 7>I mean, we've got Putin on the other side of it,

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<v Speaker 7>and the reality is he has not taken one single

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<v Speaker 7>step towards a temporary ceasefire or a piece deal whatsoever.

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<v Speaker 1>Where he is.

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<v Speaker 7>He still believes that eventually he's going to break the

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<v Speaker 7>will and resolve of the United States and the Europeans

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<v Speaker 7>and the Zelenski government and he will eventually have his

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<v Speaker 7>way here. And that is the determined process that we're

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<v Speaker 7>on here, putting this peace plant together yeather, hopefully with

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<v Speaker 7>good security guarantees that certainly favor Ukraine as a result

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<v Speaker 7>of the process, and some other things that we can

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<v Speaker 7>do to help Ukraine will convince Putin that negotiation is

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<v Speaker 7>the best answer as opposed to continue is wartime objectives

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<v Speaker 7>to achieve his strategic objectives, which haven't changed. Is top

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<v Speaker 7>of the government of Ukraine and expand into Eastern Europe.

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<v Speaker 1>One guy that's on the opposite side of this is

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<v Speaker 1>Senator Mark Warner. He's the head of the Senator or

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<v Speaker 1>the ranking member of the Senate Intelligence Committee. He doesn't

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<v Speaker 1>like this deal at all.

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<v Speaker 8>This initial plan would be a total capitulation by Ukraine.

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<v Speaker 8>I think it would go down, Frankly as a historically

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<v Speaker 8>bad deal. And my fear is the person who's watching

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<v Speaker 8>this as close as Latimer Putin is President She and China,

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<v Speaker 8>because if we throw in the towel on Ukraine, I

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<v Speaker 8>think that gives Frankly more fuel to the fire in

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<v Speaker 8>terms of She taking on Taiwan. I think there's a

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<v Speaker 8>banzial all the way around.

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<v Speaker 1>So we may get some definitive answers, not today, but

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<v Speaker 1>within a week to ten days. Venezuela, something's going to

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<v Speaker 1>happen there. Elliott Abrams, who was the ambassador to Venezuela,

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<v Speaker 1>he thinks Trump's going to do something very quickly.

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<v Speaker 9>We're at the point now where the game is on.

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<v Speaker 9>Either Nicholas Vnduro is going to win or Donald Trump

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<v Speaker 9>is going to win. And if you think that Donald

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<v Speaker 9>Trump doesn't like losing, then I think he's going to

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<v Speaker 9>use those forces in some way.

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<v Speaker 1>Okay, so we got this huge build up of military.

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<v Speaker 1>They're not going to sit there forever. We've got the

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<v Speaker 1>deadline on Thursday. But it sounds like it's movable. On Ukraine,

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<v Speaker 1>they got to come up with either agreed to this

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<v Speaker 1>deal or not. And that doesn't even bring Russia completely

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<v Speaker 1>to the table. So you know it's moving. Everything's being

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<v Speaker 1>pushed as hard as they can push it. But I

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<v Speaker 1>don't know whether they're going to get a need answers

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<v Speaker 1>right away, but it seems like there's a decent chance

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<v Speaker 1>that we will get an answer on both of those

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<v Speaker 1>countries within a week to ten days. Breaking news coming

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<v Speaker 1>out today the judge that they remember they consolidated, uh,

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<v Speaker 1>not the cases, but consolidated the question on James Comey

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<v Speaker 1>and Letitia James about whether Lindsay Halligan was properly the

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<v Speaker 1>appointed acting US Attorney, and the judge in that case

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<v Speaker 1>ruled this afternoon she's not. And so the cases have

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<v Speaker 1>not been dismissed as far as the indictments against them,

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<v Speaker 1>but the cases have been thrown out as far as

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<v Speaker 1>Lindsay Halligan having the authority to be able to prosecute.

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<v Speaker 1>This is Jonathan Turley reacting to the judge's decision.

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<v Speaker 10>He can in the sense that novelty is not good

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<v Speaker 10>when it comes to criminal indictments, and there was a

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<v Speaker 10>lot of novelty in the final day to get this

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<v Speaker 10>indictment through. They were right up against the clock, and

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<v Speaker 10>particularly with Komy, they had rejected one of the counts,

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<v Speaker 10>and so Halligan sort of put together the other two

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<v Speaker 10>counts rapidly and then submitted that. Now she and the

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<v Speaker 10>Department of Justice say that they showed that to two

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<v Speaker 10>of the jurors, including the foreman, but that the grand

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<v Speaker 10>jury had approved those two counts. But the biggest problem

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<v Speaker 10>that the judge saw here is Halligan herself. And this

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<v Speaker 10>is something that a number of us raised when the

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<v Speaker 10>indictment first came out. Under federal law, the president has

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<v Speaker 10>one hundred and twenty days to use an interim US

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<v Speaker 10>attorney and acting US attorney. That time was effectively used

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<v Speaker 10>up by her predecessor, and reportedly he was shown the

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<v Speaker 10>door because he had misgivings about some of these charges.

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<v Speaker 10>So the judge here is dismissing without prejudice, so that

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<v Speaker 10>in some ways is a small victory and that this

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<v Speaker 10>is not the end of the prosecution of James Comy

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<v Speaker 10>or Leticia James. The question is whether and how they

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<v Speaker 10>will cure this problem. Well, we're going to wait to see,

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<v Speaker 10>I think, and we're going to have the answer very soon.

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<v Speaker 10>Whether the Department of Justice is going to go back

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<v Speaker 10>to the grand jury and try to sort of clean

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<v Speaker 10>this one up. The key is going to be the

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<v Speaker 10>status of the US Attorney and that's going to be

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<v Speaker 10>an issue which they're going to have to address the

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<v Speaker 10>court here saying you simply didn't have this authority. Now,

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<v Speaker 10>the Justice Department has some good faith arguments that the

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<v Speaker 10>reading of that law is wrong and that it impedes

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<v Speaker 10>upon the president's authority. But I think a lot of

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<v Speaker 10>judges would have raised the same concern. The general view

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<v Speaker 10>has been that you sort of get one bite in

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<v Speaker 10>the apple at one hundred and twenty days.

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<v Speaker 1>Well, teacher James is putting out statements this afternoon talking

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<v Speaker 1>about how she's so thankful for the victory. It wasn't

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<v Speaker 1>a victory. The crimes have not been dismissed, the accusations,

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<v Speaker 1>the indictments have not been dismissed. The only thing that

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<v Speaker 1>was dismissed was that the US attorney was improperly appointed

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<v Speaker 1>and therefore cannot prosecute this case. So will they appeal

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<v Speaker 1>it or will they get another US attorney somewhere to

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<v Speaker 1>be able to prosecute this case. So that's still it's

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<v Speaker 1>not dead, but it sounded like it at first when

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<v Speaker 1>we heard the judge dismissed both of the Komi and

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<v Speaker 1>Leticia James cases. But there's a long way still for

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<v Speaker 1>both of those to go. You want to talk about inflation,

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<v Speaker 1>because people keep arguing about the President says prices are down,

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<v Speaker 1>prices are down, Treasury Secretary says prices are going to

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<v Speaker 1>be down. Next year is going to be great. There's

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<v Speaker 1>a lot of that going on. Let's start with car prices.

418
00:26:10.200 --> 00:26:16.440
<v Speaker 1>Fill the Bow covers Detroit for CNBC, and he's talking

419
00:26:16.480 --> 00:26:20.279
<v Speaker 1>about how car prices are way way up.

420
00:26:21.279 --> 00:26:24.559
<v Speaker 11>Take a look at what's happened with auto prices. Everybody

421
00:26:24.559 --> 00:26:26.200
<v Speaker 11>knows that they've gone up, but I'm not sure they

422
00:26:26.200 --> 00:26:29.119
<v Speaker 11>appreciate just how much they have gone up. We've asked

423
00:26:29.160 --> 00:26:33.079
<v Speaker 11>Cox Automotive to calculate the average transaction price going back

424
00:26:33.480 --> 00:26:35.759
<v Speaker 11>starting in October of this year, going all the way

425
00:26:35.759 --> 00:26:40.039
<v Speaker 11>back to twenty and eighteen. Look at the change in October.

426
00:26:40.200 --> 00:26:43.440
<v Speaker 11>The average transaction price, this is the average paid in

427
00:26:43.519 --> 00:26:47.400
<v Speaker 11>the dealership, not MSRP, was just under fifty thousand dollars.

428
00:26:47.960 --> 00:26:51.160
<v Speaker 11>That's roughly eleven thousand dollars more than what we saw

429
00:26:51.200 --> 00:26:54.160
<v Speaker 11>back in twenty eighteen before the pandemic, an increase of

430
00:26:54.200 --> 00:26:57.160
<v Speaker 11>twenty nine point five percent. And you really see it

431
00:26:57.200 --> 00:27:01.680
<v Speaker 11>reflected in terms of the autumn own monthly payments. According

432
00:27:01.720 --> 00:27:05.279
<v Speaker 11>to TransUnion, they now are above seven hundred and fifty dollars.

433
00:27:05.400 --> 00:27:08.920
<v Speaker 11>They've been steadily edging higher. The real increase was during

434
00:27:08.920 --> 00:27:12.000
<v Speaker 11>the pandemic, but they continue to move higher. And again

435
00:27:12.079 --> 00:27:15.960
<v Speaker 11>this is from TransUnion showing the average monthly new vehicle

436
00:27:16.079 --> 00:27:19.319
<v Speaker 11>auto loan payment is more than seven hundred and fifty dollars.

437
00:27:19.400 --> 00:27:22.359
<v Speaker 11>So a couple of things have been driving auto prices

438
00:27:22.400 --> 00:27:26.359
<v Speaker 11>and auto payments higher. First of all, automakers are focusing

439
00:27:26.400 --> 00:27:29.559
<v Speaker 11>on higher trim levels. I know everybody says, well, what

440
00:27:29.640 --> 00:27:32.599
<v Speaker 11>about the base price. Someone will order a vehicle a

441
00:27:32.640 --> 00:27:35.640
<v Speaker 11>base model. You know how few people order a base model.

442
00:27:35.839 --> 00:27:39.079
<v Speaker 11>It just doesn't happen. And the automakers realize that people

443
00:27:39.440 --> 00:27:43.200
<v Speaker 11>want the technology and the features that they've become used

444
00:27:43.240 --> 00:27:46.599
<v Speaker 11>to in automobiles. So as a result, higher trim levels

445
00:27:46.640 --> 00:27:48.960
<v Speaker 11>are what they're focusing on. Those are the vehicles that

446
00:27:49.000 --> 00:27:52.000
<v Speaker 11>are selling, and they're also facing higher costs. They're not

447
00:27:52.119 --> 00:27:55.640
<v Speaker 11>just doing this because they're saying, well, let's charge more.

448
00:27:56.119 --> 00:27:59.359
<v Speaker 11>They have to figure out a way to as much

449
00:27:59.400 --> 00:28:02.799
<v Speaker 11>as possible will protect their profit margins. And they have

450
00:28:02.880 --> 00:28:05.359
<v Speaker 11>to do that because costs have gone up, whether it's

451
00:28:05.440 --> 00:28:10.920
<v Speaker 11>raw materials, whether it's the impact of new labor contracts, tariffs.

452
00:28:10.960 --> 00:28:14.000
<v Speaker 11>In certain cases, suppliers have been able to push along

453
00:28:14.160 --> 00:28:17.720
<v Speaker 11>a lot of their increased costs increased cost excuse me.

454
00:28:17.920 --> 00:28:19.279
<v Speaker 11>So the bottom line is this that you take a

455
00:28:19.279 --> 00:28:21.920
<v Speaker 11>look at gm Ford and stillants. There will be a

456
00:28:21.960 --> 00:28:25.599
<v Speaker 11>hearing next month or in January, i should say, Senator

457
00:28:25.599 --> 00:28:28.640
<v Speaker 11>Ted Cruz wants to take a look at auto affordability.

458
00:28:28.799 --> 00:28:31.920
<v Speaker 11>It will be interesting to see what comes out of this. Yes,

459
00:28:31.960 --> 00:28:35.279
<v Speaker 11>people are not happy that auto monthly loan payments are

460
00:28:35.359 --> 00:28:37.839
<v Speaker 11>more than seven hundred and fifty dollars for a new vehicle,

461
00:28:37.839 --> 00:28:40.559
<v Speaker 11>but they've also gone up for used vehicles. It's about

462
00:28:40.559 --> 00:28:42.720
<v Speaker 11>one hundred and fifty to one hundred and seventy dollars

463
00:28:43.079 --> 00:28:47.079
<v Speaker 11>less for a used vehicle monthly payment. I think it's

464
00:28:47.079 --> 00:28:50.319
<v Speaker 11>somewhere in the five seventies five to eighty range. The

465
00:28:50.319 --> 00:28:53.559
<v Speaker 11>bottom line is this, these prices show no indication that

466
00:28:53.640 --> 00:28:57.359
<v Speaker 11>they are going to stop and reverse. They have plateawed

467
00:28:57.359 --> 00:28:59.960
<v Speaker 11>to a certain extent, but there's no indication that they're

468
00:29:00.079 --> 00:29:02.759
<v Speaker 11>going to be coming back down. And the interesting thing

469
00:29:02.839 --> 00:29:04.880
<v Speaker 11>is you will hear people say, well, I would buy

470
00:29:04.920 --> 00:29:08.319
<v Speaker 11>a more modestly priced vehicle if it was thirty five

471
00:29:08.400 --> 00:29:10.960
<v Speaker 11>or forty thousand dollars. And to be clear, there are

472
00:29:11.000 --> 00:29:14.279
<v Speaker 11>some vehicles that sell in that price point, at least

473
00:29:14.359 --> 00:29:18.160
<v Speaker 11>as a starting price. But you start adding on features.

474
00:29:18.240 --> 00:29:21.440
<v Speaker 11>You say to somebody, you want navigation, do you want

475
00:29:21.480 --> 00:29:24.119
<v Speaker 11>this particular feature, do you want heads up display? Whatever

476
00:29:24.160 --> 00:29:28.279
<v Speaker 11>it might be. And we have become as consumers convinced

477
00:29:28.400 --> 00:29:30.240
<v Speaker 11>that when we have a new vehicle, I want the

478
00:29:30.319 --> 00:29:33.000
<v Speaker 11>latest features, and so we go up a trim level.

479
00:29:33.160 --> 00:29:36.000
<v Speaker 11>And that's what the automakers are focusing on. They realize

480
00:29:36.039 --> 00:29:39.960
<v Speaker 11>that nobody buys a base price vehicle. It just doesn't happen.

481
00:29:40.319 --> 00:29:43.200
<v Speaker 11>I mean, I shouldn't say it never happens, very very

482
00:29:43.240 --> 00:29:46.359
<v Speaker 11>small percentage of buyers. So as a result, the prices

483
00:29:46.440 --> 00:29:47.319
<v Speaker 11>keep moving higher.

484
00:29:47.759 --> 00:29:52.720
<v Speaker 1>So phil Rush past tariffs pretty quickly, but he also

485
00:29:52.759 --> 00:29:57.240
<v Speaker 1>talked about raw materials, Well, what are raw materials? What

486
00:29:57.240 --> 00:29:58.880
<v Speaker 1>do you make cars out? Are you make out of

487
00:29:58.960 --> 00:30:03.160
<v Speaker 1>steel and aluminum? And those tariffs are in some cases

488
00:30:03.240 --> 00:30:06.359
<v Speaker 1>fifty percent. And when it comes to the s he

489
00:30:06.480 --> 00:30:10.440
<v Speaker 1>called it trim. You want a navigation, you want a GPS,

490
00:30:10.480 --> 00:30:15.440
<v Speaker 1>you want all these various things. The cars are loaded

491
00:30:15.599 --> 00:30:18.960
<v Speaker 1>with computer chips today, and those computer chips are coming

492
00:30:18.960 --> 00:30:21.799
<v Speaker 1>in from overseas, and those are cost of the car makers.

493
00:30:21.839 --> 00:30:25.400
<v Speaker 1>More so, it's a combination of a lot of things.

494
00:30:25.440 --> 00:30:31.839
<v Speaker 1>But I don't dismiss the tariffs there at all. Marcus Lamonis,

495
00:30:33.079 --> 00:30:35.400
<v Speaker 1>guy who did the profit now, I don't know, he's

496
00:30:35.400 --> 00:30:38.640
<v Speaker 1>got some other show on, but he's a big investor

497
00:30:38.759 --> 00:30:42.440
<v Speaker 1>in small businesses and he was asked about inflation.

498
00:30:43.000 --> 00:30:45.519
<v Speaker 12>Affordability is an issue, but what's the bigger issue for

499
00:30:45.559 --> 00:30:48.400
<v Speaker 12>me is how these exotic new financing tools have been

500
00:30:48.440 --> 00:30:52.359
<v Speaker 12>made available for consumers. By now, pay next year, buy now,

501
00:30:52.480 --> 00:30:55.720
<v Speaker 12>don't pay for three years, by now, never pay. And

502
00:30:55.759 --> 00:30:58.279
<v Speaker 12>when we have this drug that people have, which is

503
00:30:58.319 --> 00:31:01.000
<v Speaker 12>this access to credit, people are going to buy things

504
00:31:01.039 --> 00:31:03.799
<v Speaker 12>that they don't need. And while we hear people talk

505
00:31:03.839 --> 00:31:07.319
<v Speaker 12>about affordability. When you walk up and down New York City,

506
00:31:07.599 --> 00:31:09.119
<v Speaker 12>you see a lot of people coming in and out

507
00:31:09.119 --> 00:31:10.759
<v Speaker 12>of stores and a lot of people with bags. So

508
00:31:10.880 --> 00:31:14.000
<v Speaker 12>is it affordability or is people are people just not

509
00:31:14.119 --> 00:31:16.519
<v Speaker 12>feeling comfortable with what they're spending their money pull And

510
00:31:16.559 --> 00:31:18.519
<v Speaker 12>when we think about the digital age where we're on

511
00:31:18.559 --> 00:31:21.799
<v Speaker 12>our phones and we're not paying attention to people changing

512
00:31:21.799 --> 00:31:24.039
<v Speaker 12>and exchanging gifts like the one I got you that

513
00:31:24.079 --> 00:31:26.920
<v Speaker 12>you don't know about. It gives us a sense to

514
00:31:26.960 --> 00:31:29.960
<v Speaker 12>have camaraderie communication. It doesn't mean that it has to

515
00:31:30.000 --> 00:31:32.319
<v Speaker 12>be an expensive gift. And I think what we're seeing

516
00:31:32.319 --> 00:31:35.720
<v Speaker 12>happen this year is the average cart size at retail down,

517
00:31:36.160 --> 00:31:40.279
<v Speaker 12>the average order size down. That's something that I think

518
00:31:40.279 --> 00:31:42.039
<v Speaker 12>people need to pay attention to. So what I mean

519
00:31:42.119 --> 00:31:44.559
<v Speaker 12>is when you go into a big box retailer, Walmart, Target,

520
00:31:44.599 --> 00:31:46.799
<v Speaker 12>whatever it may be, the number of items that people

521
00:31:46.839 --> 00:31:48.599
<v Speaker 12>are putting in their cart and the amount of their

522
00:31:48.640 --> 00:31:53.160
<v Speaker 12>total order is actually not up. I see these trends,

523
00:31:53.160 --> 00:31:56.000
<v Speaker 12>but I also see other retailers that I have relationships with,

524
00:31:56.079 --> 00:31:59.079
<v Speaker 12>who you can tell are forecasting based on the amount

525
00:31:59.119 --> 00:32:01.799
<v Speaker 12>of labor they're going to put on the floor this holiday.

526
00:32:02.119 --> 00:32:03.799
<v Speaker 12>The amount of jobs that are going to be on

527
00:32:03.799 --> 00:32:06.400
<v Speaker 12>the floor of this holiday are down about fifteen percent

528
00:32:06.480 --> 00:32:07.279
<v Speaker 12>from a year ago.

529
00:32:07.519 --> 00:32:08.119
<v Speaker 1>Why is that.

530
00:32:08.160 --> 00:32:10.240
<v Speaker 12>Are people expecting more or less traffic?

531
00:32:10.240 --> 00:32:11.640
<v Speaker 9>Well, they're expecting less traffic.

532
00:32:11.720 --> 00:32:15.240
<v Speaker 1>The Fox newspoll just out on it came out on Friday.

533
00:32:15.440 --> 00:32:18.559
<v Speaker 1>I was looking through it over the weekend. Majority of

534
00:32:18.599 --> 00:32:24.119
<v Speaker 1>Americans say cost of goods are up. Groceries the answer.

535
00:32:24.240 --> 00:32:27.160
<v Speaker 1>Eighty five percent of the people say groceries are up,

536
00:32:27.559 --> 00:32:31.519
<v Speaker 1>seventy eight percent of people say their utility bill is up,

537
00:32:31.640 --> 00:32:35.920
<v Speaker 1>sixty seven percent say their healthcare is up, sixty six

538
00:32:35.960 --> 00:32:39.720
<v Speaker 1>percent say their housing is up, and fifty four percent

539
00:32:39.799 --> 00:32:43.559
<v Speaker 1>say their gas prices are up, which is kind of

540
00:32:43.599 --> 00:32:47.960
<v Speaker 1>interesting because tech technically they're right. I was looking at

541
00:32:48.400 --> 00:32:53.519
<v Speaker 1>Triple A's national average of gasoline, and the national average

542
00:32:53.920 --> 00:32:57.839
<v Speaker 1>is three oh seven. A year ago it was three

543
00:32:58.000 --> 00:33:01.279
<v Speaker 1>oh five, So it's bouncing around down there, just a

544
00:33:01.279 --> 00:33:05.119
<v Speaker 1>little bit above three bucks on the national average for

545
00:33:05.240 --> 00:33:08.880
<v Speaker 1>the cheap stuff. Well, since we're talking financial numbers, why

546
00:33:08.920 --> 00:33:12.000
<v Speaker 1>don't we take a look at Wall Street. We started off.

547
00:33:12.599 --> 00:33:16.279
<v Speaker 1>You know, it's fickle. Everybody's trying to figure out, as

548
00:33:16.359 --> 00:33:18.160
<v Speaker 1>you know, you buy on the dip or is there

549
00:33:18.200 --> 00:33:21.200
<v Speaker 1>more of the falling knife to catch in any case.

550
00:33:21.240 --> 00:33:25.079
<v Speaker 1>Today it started off on the tech stocks, the ones

551
00:33:25.079 --> 00:33:29.440
<v Speaker 1>that sold off last couple of weeks. They started buying

552
00:33:29.519 --> 00:33:33.799
<v Speaker 1>them today. The Dow up two hundred and two to

553
00:33:33.880 --> 00:33:37.079
<v Speaker 1>finish at forty six four forty eight s and p

554
00:33:37.319 --> 00:33:39.480
<v Speaker 1>up one hundred two. That's a big gain for the

555
00:33:39.559 --> 00:33:43.519
<v Speaker 1>SMP index. Here's where the tech stocks are. Nasdaq up

556
00:33:43.920 --> 00:33:48.759
<v Speaker 1>five hundred and ninety nine, five hundred niney nine points

557
00:33:48.839 --> 00:33:53.119
<v Speaker 1>up to twenty two thousand and eight seventy two. Price

558
00:33:53.160 --> 00:33:56.519
<v Speaker 1>of gold up fifty dollars to forty one twenty nine,

559
00:33:56.599 --> 00:33:58.799
<v Speaker 1>and the price of oil was up a little less

560
00:33:58.799 --> 00:34:01.359
<v Speaker 1>than a dollar. It's up at fifty eight dollars now

561
00:34:01.400 --> 00:34:05.400
<v Speaker 1>for one barrel of oil. Thank you for coming by.

562
00:34:06.240 --> 00:34:09.559
<v Speaker 1>I know it's going to be a shortened week, but

563
00:34:09.719 --> 00:34:12.760
<v Speaker 1>we plan on being here, so I thank you for

564
00:34:12.800 --> 00:34:15.239
<v Speaker 1>coming by today. We'll certainly be here tomorrow and I

565
00:34:15.280 --> 00:34:16.559
<v Speaker 1>look forward to seeing you then.
