1 00:00:25,879 --> 00:00:30,000 Speaker 1: And Hi, how are you welcome to the Big Podcast. 2 00:00:30,239 --> 00:00:36,079 It's the thirteenth day of January. It's too no, yeah, yeah, Tuesday. 3 00:00:36,320 --> 00:00:39,640 I got it right, Tuesday, the thirteenth year of our Lord, 4 00:00:39,679 --> 00:00:43,320 two thousand and twenty six. My name is Tom Sullivan. 5 00:00:43,520 --> 00:00:48,200 So well, busy day we've got. They came out with 6 00:00:48,280 --> 00:00:52,640 our inflation report this morning. I won't bury it. It 7 00:00:52,679 --> 00:00:57,600 was it was okay. There's no big no big shakes 8 00:00:57,600 --> 00:01:00,799 about that. Wall Street kind of yawned about it. Actually, 9 00:01:01,840 --> 00:01:05,359 there's a hearing going on in the Oversight Committee in 10 00:01:05,400 --> 00:01:10,959 the House about Epstein. I told you yesterday. So whatever 11 00:01:11,079 --> 00:01:14,560 happened to that Epstein story? Because of all the other 12 00:01:15,040 --> 00:01:18,079 stuff that's going on, has this been bearing all that 13 00:01:18,519 --> 00:01:21,959 stuff about Epstein? Well, James Comer, the head of the 14 00:01:21,959 --> 00:01:27,840 Oversight Committee, is busy holding hearings, and he had subpoenaed 15 00:01:29,159 --> 00:01:34,359 former President Bill Clinton and former Secretary of State Hillary 16 00:01:34,359 --> 00:01:39,719 Clinton to appear before the committee. Bill today, Hillary tomorrow, 17 00:01:40,680 --> 00:01:44,159 build in show. So we'll get into that as well. 18 00:01:44,239 --> 00:01:50,799 We've got still a lot of reverberations about the investigation 19 00:01:51,480 --> 00:01:55,200 into Jerome Powell, the head of the Federal Reserve. What 20 00:01:56,519 --> 00:02:01,000 a bunch of pushback I mean by party artisan, it's 21 00:02:01,000 --> 00:02:04,159 coming from it's coming from the private sector, from Democrats, 22 00:02:04,159 --> 00:02:09,680 from Republicans, and even Janine Piro, who's the US Attorney 23 00:02:09,680 --> 00:02:13,759 in Washington, d C. Who started the announced the investigation. 24 00:02:14,280 --> 00:02:16,400 She's backpedaling as fast as she can. 25 00:02:17,439 --> 00:02:17,520 Speaker 2: Uh. 26 00:02:17,680 --> 00:02:20,840 Speaker 1: The president's in Detroit today speaking to the Economic Club there, 27 00:02:20,840 --> 00:02:24,639 and he's also going to one of the big forward 28 00:02:24,719 --> 00:02:30,120 plants in Dearborn, still talking about putting a cap on 29 00:02:30,240 --> 00:02:33,639 credit card interest rates. So we've got a lot to 30 00:02:34,319 --> 00:02:37,479 uh to go over today. Let's you want to start 31 00:02:37,520 --> 00:02:42,560 with the with the cap on interest rates. It's never ever, 32 00:02:43,159 --> 00:02:48,319 ever worked before. This is a bad idea. I mean, 33 00:02:48,400 --> 00:02:51,800 I got a lot of pushback that I saw yesterday 34 00:02:51,919 --> 00:02:57,280 on this exact. Well here's when from Steve Wore ste 35 00:02:57,479 --> 00:03:02,120 you know, the economic guy, and he says he put 36 00:03:02,159 --> 00:03:06,719 this on his on his X feed last night. Price 37 00:03:06,879 --> 00:03:12,400 controls on credit cards never in capital words, capital letters, 38 00:03:12,439 --> 00:03:17,080 never work. Nixon and Carter cried it. It was a disaster. 39 00:03:18,000 --> 00:03:21,560 Capping rates at ten percent may sound popular, but it's 40 00:03:21,840 --> 00:03:26,199 risk cutting access to credit for millions of Americans who 41 00:03:26,280 --> 00:03:30,840 rely on it for emergencies. So what banks will do 42 00:03:31,240 --> 00:03:34,479 is that they will cut off credit to people that 43 00:03:34,520 --> 00:03:38,240 are high risk, even medium risk. They are not going 44 00:03:38,319 --> 00:03:40,719 to issue they're going they're going to cancel credit cards. 45 00:03:40,840 --> 00:03:43,159 They're not going to allow people to have a credit 46 00:03:43,199 --> 00:03:46,639 card because it's it's going to cost them a lot 47 00:03:46,680 --> 00:03:48,639 of money and they're not going to take the chance. 48 00:03:49,000 --> 00:03:51,719 So a lot of people will turn that don't have 49 00:03:51,800 --> 00:03:56,000 good credit, will turn to payday lenders. And I don't 50 00:03:56,039 --> 00:04:00,159 know Louis on the corner, but it's it's it's going 51 00:04:00,159 --> 00:04:04,719 to hurt the people who are the most vulnerable. The 52 00:04:04,840 --> 00:04:07,280 rich people won't care. They'll still get their credit card, 53 00:04:07,439 --> 00:04:10,319 no problem there. But once again, you're going after the 54 00:04:10,360 --> 00:04:15,599 people who don't have a voice. Mark Penn, the Democrat poster, 55 00:04:15,800 --> 00:04:21,160 was asked about this in this context. Elizabeth Warren gave 56 00:04:21,399 --> 00:04:26,040 a speech last night where she was just ripping President Trump. 57 00:04:26,120 --> 00:04:32,319 As you would imagine, after her speech, President Trump called 58 00:04:32,360 --> 00:04:35,319 her out of the blue. She was very surprised, and 59 00:04:35,399 --> 00:04:38,000 she said, I told him exactly what I just said 60 00:04:38,040 --> 00:04:41,480 in the speech about all the things that he's doing wrong. 61 00:04:44,800 --> 00:04:49,920 She wants to get the credit cards to more people. 62 00:04:50,439 --> 00:04:54,279 She wants to help the lowest income, the most vulnerable, 63 00:04:54,720 --> 00:04:58,639 and she also hates big banks. So this is what 64 00:04:58,720 --> 00:05:03,439 Mark Penn said about the chance of getting credit card 65 00:05:03,600 --> 00:05:04,920 interest rates capped. 66 00:05:06,120 --> 00:05:09,279 Speaker 2: Somewhat surprised that he picked up the phone, but you know, 67 00:05:09,560 --> 00:05:12,800 when you're a Republican and you want to get your 68 00:05:12,879 --> 00:05:16,079 numbers higher, you need some Democrats, and when you're a Democrat, 69 00:05:16,160 --> 00:05:19,000 you need some Republicans. So he's got a proposal to 70 00:05:19,079 --> 00:05:23,120 maybe cap credit card interest rates, and it is possible 71 00:05:23,240 --> 00:05:26,720 that he and Warren would come to an agreement on 72 00:05:26,879 --> 00:05:30,480 this proposal and get it into laws. So I think 73 00:05:30,519 --> 00:05:33,680 from that perspective that call made a lot of sense, 74 00:05:34,120 --> 00:05:37,439 because if the president gets the credit card interest rate 75 00:05:37,519 --> 00:05:41,360 cap under his watch, that's a pretty good accomplishment with 76 00:05:41,439 --> 00:05:42,240 a lot of Democrats. 77 00:05:42,240 --> 00:05:45,199 Speaker 1: Well, sadly, I agree with with Mark Penn because it 78 00:05:45,240 --> 00:05:49,279 would be popular and Donald Trump is a populist, and 79 00:05:49,720 --> 00:05:53,040 so always Elizabeth Warren. But no, they don't come from 80 00:05:53,079 --> 00:05:56,279 the same place. But it would be something that people 81 00:05:56,279 --> 00:05:59,639 would If you ask the person on the street, are 82 00:05:59,680 --> 00:06:02,839 you for credit card interest rates to being capped at 83 00:06:02,879 --> 00:06:06,000 ten percent? They're going to yes, of course. Because I 84 00:06:06,120 --> 00:06:08,319 don't like the big banks. The big banks are mean 85 00:06:08,399 --> 00:06:10,639 to me and they charged me a lot of fees 86 00:06:11,079 --> 00:06:14,279 so yes, So maybe there will be a lot of 87 00:06:14,319 --> 00:06:17,079 members of Congress that will actually go for this. Can 88 00:06:17,120 --> 00:06:21,319 you imagine Donald Trump and Elizabeth Warren working together on 89 00:06:21,360 --> 00:06:25,160 getting a ten percent cap on credit card interest rates? 90 00:06:25,839 --> 00:06:28,720 If you don't have sterling credit, say bye bye to 91 00:06:28,800 --> 00:06:31,319 your credit card. I'll tell you that. And speaking of 92 00:06:31,360 --> 00:06:36,959 the President and financial matters, so the President was in 93 00:06:37,040 --> 00:06:42,800 Detroit today. He went to a Ford factory in Dearborn, Michigan. 94 00:06:43,480 --> 00:06:49,279 And what he said there was all very optimistic. And 95 00:06:49,319 --> 00:06:55,079 he's a great politician, and so he was handshaking all 96 00:06:55,120 --> 00:06:57,199 the guys and gals that worked at this Ford factory. 97 00:06:57,240 --> 00:07:01,360 I wanted to bring up a story about and this 98 00:07:01,480 --> 00:07:09,240 is from their financial statements. They have lost a fortune 99 00:07:09,680 --> 00:07:14,680 on evs. They are taking a massive nineteen and a 100 00:07:14,759 --> 00:07:19,639 half billion dollar write off due to the electric vehicle 101 00:07:19,800 --> 00:07:26,439 investments because they're canceling future EV models. They're scaling back production, 102 00:07:26,800 --> 00:07:30,399 they're ending their f one point fifty lightning production to 103 00:07:30,519 --> 00:07:36,399 refocus on profitable hybrids and gas vehicles. It is a 104 00:07:36,480 --> 00:07:41,759 significant shift due to the weaker than expected EV demand 105 00:07:42,240 --> 00:07:46,519 and the high costs. So this is a huge rite off. 106 00:07:46,680 --> 00:07:50,040 General voters took a similar one forid and general voters 107 00:07:50,040 --> 00:07:54,160 are getting out of the ev business. So President Trump 108 00:07:54,240 --> 00:07:56,240 was there and he walked around the plant and talked 109 00:07:56,279 --> 00:07:59,079 to everybody who shook hands. But he also gave a 110 00:07:59,079 --> 00:08:04,839 speech later at the Detroit Economic Club. Kevin o'larry mister wonderful, 111 00:08:05,560 --> 00:08:09,680 listened to the speech and was asked his reaction to it. 112 00:08:10,279 --> 00:08:14,680 Speaker 3: Optimism, as the administration should be. But let's drig dig 113 00:08:14,720 --> 00:08:17,399 down a little bit. Two point seven percent is not 114 00:08:17,519 --> 00:08:21,000 two you said it yourself. The mandates two percent, So 115 00:08:21,399 --> 00:08:25,480 that's as a percentage, it's significantly above where we have 116 00:08:25,519 --> 00:08:28,759 to get to. So I'm not as optimistic that job 117 00:08:28,800 --> 00:08:32,200 owning the FED is going to get rates reduced anytime soon, 118 00:08:32,519 --> 00:08:35,600 because I mean they, I mean, it is an unusual 119 00:08:35,639 --> 00:08:39,960 situation obviously, but I don't think you can count on 120 00:08:40,120 --> 00:08:44,639 rate cuts While Powell's there, He's obviously under some pressure. 121 00:08:44,720 --> 00:08:47,360 But at the same time, his mandate is to guide 122 00:08:47,360 --> 00:08:50,679 the ship, and the ship means get inflation to two percent. 123 00:08:51,399 --> 00:08:55,279 This tariff situation is getting really interesting. I think what's 124 00:08:55,279 --> 00:08:58,000 going to happen, And I'm certainly talking to a lot 125 00:08:58,039 --> 00:09:02,759 of businesses that have boring the input increases, I mean 126 00:09:02,840 --> 00:09:05,720 tariffs themselves on commodities. Are goods that you don't create 127 00:09:05,759 --> 00:09:09,399 yourself is inflationary, There's no way around it. So potash, 128 00:09:09,919 --> 00:09:16,960 potash box site, pineapples, bananas, softwood, lumber, that stuff is 129 00:09:17,000 --> 00:09:19,159 not not enough if it's made in the United States. 130 00:09:19,159 --> 00:09:22,600 So when you tariff it, you make your prices go up, 131 00:09:22,600 --> 00:09:24,480 and that's what's happened. So I think what the misfre 132 00:09:24,879 --> 00:09:28,240 administration has to do there waiting for the Supreme Court 133 00:09:28,600 --> 00:09:31,440 is put a moratorium on anything that we don't make 134 00:09:31,480 --> 00:09:33,960 get rid of those tariffs so they can bring down 135 00:09:34,399 --> 00:09:39,480 those increased costs on that affordable affordability issue. Secondly, here's 136 00:09:39,519 --> 00:09:42,159 how the Supreme Court's going to come down. The majority 137 00:09:42,200 --> 00:09:45,360 of these tariffs will be legal, in my opinion. The 138 00:09:45,399 --> 00:09:47,320 ones that aren't going to hold are the ones that 139 00:09:47,360 --> 00:09:51,279 we're put on with emergency measures around things like fentanyl 140 00:09:51,559 --> 00:09:55,679 on Canada and Mexico. So this is a treasury issue. 141 00:09:55,759 --> 00:09:58,039 So let's say they brought in year round numbers two 142 00:09:58,159 --> 00:10:00,960 hundred billion dollars in tariffs in the life past eleven months. 143 00:10:01,440 --> 00:10:04,159 Maybe fifty billion of that's going back to the people 144 00:10:04,159 --> 00:10:06,679 that paid it. It's not the end of the free world. 145 00:10:06,919 --> 00:10:09,879 It's going to be a compromise situation. I don't think 146 00:10:09,879 --> 00:10:13,000 there's any way the administration can keep that money. They 147 00:10:13,039 --> 00:10:15,799 may be able to modify the policy so that going 148 00:10:15,840 --> 00:10:19,399 forward they can continue to tariff and then keep that, 149 00:10:19,840 --> 00:10:22,320 but I think that's what the Supreme Court is going 150 00:10:22,360 --> 00:10:24,320 to do. This is going to be a boon for 151 00:10:24,399 --> 00:10:26,879 accountants everywhere to try and figure out how do I 152 00:10:26,960 --> 00:10:29,600 file to get this money back. I can't imagine that 153 00:10:29,720 --> 00:10:32,960 nightmare because it's not IRS, it's Treasury. We'll wait and 154 00:10:33,039 --> 00:10:35,600 see how that comes down. But I really think at 155 00:10:35,639 --> 00:10:37,519 the end of the day, where we're going on tariffs, 156 00:10:37,519 --> 00:10:39,840 and most of the market believes this is we will 157 00:10:39,879 --> 00:10:44,240 get eventually with all countries to a reciprocal tariff so 158 00:10:44,279 --> 00:10:46,960 that you can't weaponize the tool and say, look, we're 159 00:10:46,960 --> 00:10:49,600 going to slam China with one hundred percent again, or 160 00:10:49,600 --> 00:10:52,399 we're going to slam these guys that trade with a 161 00:10:52,440 --> 00:10:56,960 certain Middle East country with tariffs. While they do that, 162 00:10:56,960 --> 00:11:00,240 that was not trade policy was used for. And I 163 00:11:00,240 --> 00:11:02,679 think that's what's going to happen in Supreme Court. They're 164 00:11:02,679 --> 00:11:05,159 going to try and fine tune that. I think it's 165 00:11:05,240 --> 00:11:08,919 making some in Congress a little uncomfortable the way this 166 00:11:09,080 --> 00:11:10,519 task sus been being used. 167 00:11:11,639 --> 00:11:15,559 Speaker 1: I could not agree more with Kevin O'Leary about the 168 00:11:15,600 --> 00:11:17,799 fact that I think that's exactly what the Supreme Court 169 00:11:17,840 --> 00:11:21,120 is going to say. Mister President, you're using teriffs to 170 00:11:21,600 --> 00:11:26,639 exact behavior out of other countries that you can't do 171 00:11:27,519 --> 00:11:33,440 but for reciprocal tariffs. If Japan charges US five percent 172 00:11:33,519 --> 00:11:37,000 tariff for pencils, we can charge them five percent for 173 00:11:37,080 --> 00:11:40,240 their products. That sort of thing. I think that is 174 00:11:40,279 --> 00:11:45,440 where it's going to go. But Kevin mentioned the inflation rate. 175 00:11:45,440 --> 00:11:48,720 The Consumer Price Index came out this morning and it 176 00:11:49,080 --> 00:11:55,159 was up three tens of a percent, which when you 177 00:11:55,200 --> 00:11:59,320 do year over year two point seven percent inflation rate 178 00:11:59,440 --> 00:12:02,879 over the last year over year, the core rate was 179 00:12:02,879 --> 00:12:07,120 two point six, but the overall headline rate two point seven. 180 00:12:07,720 --> 00:12:10,080 That's what he was talking about. It's not two. That's 181 00:12:10,120 --> 00:12:12,559 where the Fed wants it to get to, and two 182 00:12:12,639 --> 00:12:15,159 point seven is not to. It sounds close, but it's 183 00:12:15,200 --> 00:12:19,159 not that close. And when you look at the list 184 00:12:19,200 --> 00:12:23,799 of what was inflationary in the month of December, housing, 185 00:12:24,320 --> 00:12:28,720 shelter rent, everything to do with putting the roof over 186 00:12:28,759 --> 00:12:34,080 your head, and food. Food had the biggest monthly gain 187 00:12:34,480 --> 00:12:39,240 in three years. Mostly that was driven by beef, and 188 00:12:39,360 --> 00:12:42,080 most of the beef that we're talking about comes from 189 00:12:42,559 --> 00:12:46,600 Brazil because we are not producing enough beef with a 190 00:12:46,799 --> 00:12:51,879 shortage of cattle in this country. Beef up sixteen percent. 191 00:12:53,159 --> 00:12:59,480 Coffee also from Brazil up twenty percent. Those that coffee, 192 00:12:59,559 --> 00:13:02,799 we don't we don't make coffee in this country. Wow, 193 00:13:02,840 --> 00:13:05,879 we don't. Yeah, coco bean, we don't do that. So 194 00:13:06,159 --> 00:13:09,240 why we have a tariff on that? All it's doing 195 00:13:09,320 --> 00:13:13,240 is just driving up the cost of various things. Greg 196 00:13:13,360 --> 00:13:17,039 Ipp from the Wall Street Journal was asked his reaction 197 00:13:17,279 --> 00:13:24,240 to not only the inflation rate, but also this surprise 198 00:13:24,399 --> 00:13:27,240 attack on Jerome Pal Here's Greg Yip. 199 00:13:27,720 --> 00:13:29,320 Speaker 4: So, I mean, if the point you're making is that 200 00:13:29,440 --> 00:13:33,159 like even modest rates of inflation still like out of 201 00:13:33,200 --> 00:13:35,679 the price level. No, you're absolutely right. But this is 202 00:13:35,679 --> 00:13:37,720 a good number for the FED. It's a good number 203 00:13:37,720 --> 00:13:41,960 for the country that inflation is still relatively moderate, the 204 00:13:42,000 --> 00:13:44,440 core inflation rate coming in a little bit lower than expected. 205 00:13:45,440 --> 00:13:47,159 I don't think it moves the Fed in the direction 206 00:13:47,200 --> 00:13:49,960 of cutting again. But should we get further weakness in 207 00:13:49,960 --> 00:13:52,919 the labor market, this certainly means that the inflation numbers 208 00:13:52,960 --> 00:13:55,120 are not giving them a strong reason to hold back. 209 00:13:55,480 --> 00:13:58,720 Speaker 1: But what about the Fed? Loud people are on Wall 210 00:13:58,720 --> 00:14:02,960 Street in the financial market are extremely concerned and I 211 00:14:03,039 --> 00:14:07,320 use that word extremely on purpose, extremely worried about the 212 00:14:07,360 --> 00:14:12,720 independence of the Federal Reserve. Greg Yep also is concerned. 213 00:14:14,200 --> 00:14:15,759 Speaker 4: Yes, it is at risk, and I think people are 214 00:14:15,840 --> 00:14:19,639 right to be worried. I mean, look on the positive side. 215 00:14:19,679 --> 00:14:24,120 The blowback to the alleged investigation of Chair Powell has 216 00:14:24,159 --> 00:14:26,559 been so severe that a lot of the people responsible 217 00:14:26,559 --> 00:14:28,679 for it are trying to distance themselves from it. The 218 00:14:28,799 --> 00:14:31,720 President claims he didn't know about it, you know. The 219 00:14:31,840 --> 00:14:36,000 US attorney in charge of the probe claims to say, hey, 220 00:14:36,000 --> 00:14:38,360 we didn't even use the word indictment. So and I 221 00:14:38,440 --> 00:14:41,440 think that's a reflection that there's still a strong muscle 222 00:14:41,480 --> 00:14:46,080 memory in the body politic and among thoughtful policy leaders 223 00:14:46,120 --> 00:14:49,159 that you should not go this distance. But Joe, I 224 00:14:49,159 --> 00:14:51,600 guess what I would fall back on is that this 225 00:14:51,639 --> 00:14:53,679 is not the last first and it's not the last 226 00:14:53,679 --> 00:14:56,039 attempt by Trump to corral the independence of the FED. 227 00:14:56,480 --> 00:14:58,960 We've seen him repeatedly take runs at the FED, threatening 228 00:14:58,960 --> 00:15:02,600 the Firechair Powell, trying to fire Governor Lisa Cook putting 229 00:15:02,639 --> 00:15:04,960 his own White House advisor on the Board of Governors, 230 00:15:05,279 --> 00:15:08,519 and he has also, through this process of interviewing new 231 00:15:08,559 --> 00:15:11,759 candidates to succeed out, made it clear what his priority is, 232 00:15:11,840 --> 00:15:15,279 You must lower interest rates, and based on their public comments, 233 00:15:15,320 --> 00:15:18,399 both Kevin Hassett and Kevin worsh the leading candidates, have 234 00:15:18,519 --> 00:15:20,879 said that is what they will do. So I would 235 00:15:20,879 --> 00:15:23,600 say that at least twenty to four to forty eight 236 00:15:23,679 --> 00:15:27,559 hours into this latest brew haha, it's not perhaps the 237 00:15:27,799 --> 00:15:30,600 death blow that some of us worried about, but I 238 00:15:30,759 --> 00:15:33,720 think that this is a president who does not give 239 00:15:33,799 --> 00:15:35,480 up when there's something that he wants, and I would 240 00:15:35,480 --> 00:15:37,200 expect him to come back and try this again in 241 00:15:37,200 --> 00:15:37,799 some other way. 242 00:15:38,159 --> 00:15:42,320 Speaker 1: So it wasn't just here in the US. The international 243 00:15:42,440 --> 00:15:45,960 central bankers of all the various countries around the world 244 00:15:46,200 --> 00:15:49,840 put together a joint statement and it reads, the independence 245 00:15:49,919 --> 00:15:54,600 of central banks is a cornerstone of price, financial and 246 00:15:54,679 --> 00:15:58,840 economic stability in the interest of the citizens that we serve. 247 00:15:59,440 --> 00:16:02,639 It is there for critical to preserve the independence with 248 00:16:02,840 --> 00:16:07,720 full respect for the rule of law and democratic accountability. 249 00:16:08,120 --> 00:16:12,879 Then Jamie Diamond, the head of Chase Bank, the biggest bank, 250 00:16:12,919 --> 00:16:17,360 and he says on fat independence is first, I just 251 00:16:17,399 --> 00:16:19,279 want to say that I don't agree with everything that 252 00:16:19,320 --> 00:16:22,200 the FED has done. I do have enormous respect for 253 00:16:22,279 --> 00:16:27,200 j Powell, the man. Two. Anything everyone we know believes 254 00:16:27,240 --> 00:16:30,360 and FED independence and you all repeat it all at 255 00:16:30,360 --> 00:16:33,840 the same time as most people do, so do we. 256 00:16:35,039 --> 00:16:39,960 And anything chips away at that is probably not a 257 00:16:40,000 --> 00:16:43,200 great idea, and in my view, it will have the 258 00:16:44,000 --> 00:16:50,919 reverse consequences, will raise inflation expectations and probably increase rates 259 00:16:50,919 --> 00:16:54,799 over time. So Jamie Diamonds saying you're going to shoot 260 00:16:54,799 --> 00:16:58,039 yourself in the foot on this business of going after 261 00:16:59,279 --> 00:17:04,319 Jay Powell. So the pushback is quite wide, and again 262 00:17:04,519 --> 00:17:09,319 it is bipartisan. Back to regib We had. 263 00:17:09,160 --> 00:17:11,839 Speaker 4: A couple of Republican senators come out against that, but look, 264 00:17:11,839 --> 00:17:14,920 one of them, Tom Tillis, is already an now he's 265 00:17:14,960 --> 00:17:18,640 retiring because he has gone up against the president once 266 00:17:18,640 --> 00:17:20,440 too often and he could see the writing on the wall. 267 00:17:20,680 --> 00:17:23,599 The other was Lisa Murkowski, who's obviously always on an 268 00:17:23,599 --> 00:17:27,480 independent street. The majority of Republican senators haven't really sent anything. 269 00:17:27,640 --> 00:17:31,240 Speaker 1: Jim Kramer and David Faber over at CNBC when they 270 00:17:31,599 --> 00:17:35,279 started their Morning Conversation this morning, this was topic a. 271 00:17:35,920 --> 00:17:38,640 Speaker 5: Look, foods too high. A lot of that is tariffs, 272 00:17:38,640 --> 00:17:40,319 A lot of that is safe. For instance, when you 273 00:17:40,400 --> 00:17:42,599 deal with Brazil, Brazil would be a way to get 274 00:17:42,680 --> 00:17:46,839 cattle down. Cattle's principal source of food inflation. I'm surprised 275 00:17:46,920 --> 00:17:49,720 the President hasn't addressed it yet. But when you're a 276 00:17:49,759 --> 00:17:53,880 political enemy, you're as Brazil's regarded now are, you're not 277 00:17:53,880 --> 00:17:56,400 going to get lower tarifs. And I think that what 278 00:17:56,519 --> 00:17:59,039 the President's going about incorrectly. And I know now the 279 00:17:59,039 --> 00:18:00,799 president feels like a little bit of a free fire 280 00:18:00,920 --> 00:18:04,160 zone after what he if A Justice did with Palell 281 00:18:04,440 --> 00:18:05,279 is you're just. 282 00:18:05,240 --> 00:18:06,160 Speaker 6: Going to make a deal. 283 00:18:06,319 --> 00:18:07,480 Speaker 1: Let's get beef down. 284 00:18:07,519 --> 00:18:10,480 Speaker 5: That is a principal source, a staple, and it's way 285 00:18:10,519 --> 00:18:12,240 too high, and it's up to the president. 286 00:18:12,240 --> 00:18:14,839 Speaker 1: Dealer. Where's your head right now? On do oj and Powell? 287 00:18:15,279 --> 00:18:18,440 Speaker 5: Well, look, I mean everyone keeps talking about the attack 288 00:18:18,519 --> 00:18:20,000 on the Federal Reserve and independence. 289 00:18:20,000 --> 00:18:21,319 Speaker 1: That's because we're business network. 290 00:18:21,799 --> 00:18:25,400 Speaker 5: That the fact that the Justice Department is being revealed 291 00:18:25,400 --> 00:18:27,559 as a point of the president, even to the point 292 00:18:27,559 --> 00:18:29,759 where the President doesn't even know what's a pawn, That's 293 00:18:29,759 --> 00:18:30,880 what's the real tack is on. 294 00:18:31,000 --> 00:18:32,559 Speaker 1: I think the Just You don't want the Just Department 295 00:18:32,640 --> 00:18:33,759 to be a farce or a joke. 296 00:18:34,000 --> 00:18:36,079 Speaker 5: It tends to be a really important arm of government, 297 00:18:36,319 --> 00:18:38,000 but right now it just seems like a kind of 298 00:18:38,000 --> 00:18:39,559 a hack. 299 00:18:39,000 --> 00:18:39,720 Speaker 1: Group of people. 300 00:18:39,920 --> 00:18:41,359 Speaker 5: You know, when I got out of law school, the 301 00:18:41,440 --> 00:18:43,440 number one job that you get was, before you go 302 00:18:43,480 --> 00:18:46,039 to any of these firms like Paul Weiss or a 303 00:18:46,119 --> 00:18:49,240 Kravat or Sullivan, you went to the Justice Department. I 304 00:18:49,240 --> 00:18:51,880 don't think anyone would be thinking about going to the 305 00:18:51,920 --> 00:18:53,839 Just Department now because you just have to do the 306 00:18:53,839 --> 00:18:56,960 bidding of someone else to go after Palell to make 307 00:18:57,000 --> 00:18:58,200 it so that he could be in jail. 308 00:18:58,960 --> 00:18:59,759 Speaker 1: It's farcical. 309 00:19:00,079 --> 00:19:02,119 Speaker 5: I think that the Just Apartment is the one the 310 00:19:02,160 --> 00:19:04,519 agency that is really being hammered, not the FED. 311 00:19:04,960 --> 00:19:07,920 Speaker 1: Yeah, and the water cooler talking DC apparently is all 312 00:19:08,000 --> 00:19:10,799 about how long Pam Bondy is going to stay as 313 00:19:10,880 --> 00:19:15,480 Attorney General, the rumor being that the President's not tickled 314 00:19:15,839 --> 00:19:21,640 with her. We'll see, let's see. How about how about 315 00:19:21,640 --> 00:19:25,799 the Clintons. We haven't talked about the Clintons in a 316 00:19:25,880 --> 00:19:29,519 long time. Well, they're back in the news because I 317 00:19:29,599 --> 00:19:32,960 told you Comber James Comer, the head of the Oversight Committee, 318 00:19:33,599 --> 00:19:39,759 has been looking at epstein documents and wanting to interview people, 319 00:19:40,440 --> 00:19:43,240 and he gave a subpoena to Bill Clinton and won 320 00:19:43,279 --> 00:19:45,839 to Hillary Clinton. Bill was suppoth to show up today. 321 00:19:46,079 --> 00:19:51,480 He did not, and Comber went to the microphones to say, 322 00:19:51,519 --> 00:19:52,160 what's going on. 323 00:19:52,279 --> 00:19:56,279 Speaker 7: Voted by the entire committee in a unanimous vote of 324 00:19:56,319 --> 00:20:00,559 the House Overside Committee to subpoena former President Clinton and 325 00:20:00,759 --> 00:20:03,720 former Secretary State Hillary Clinton. Now Hillary Clinton supposed to 326 00:20:03,720 --> 00:20:06,119 show up tomorrow. We'll see what happens there. But with 327 00:20:06,160 --> 00:20:10,640 respect to the former president, he did not show up today. 328 00:20:11,359 --> 00:20:14,720 One reason I think most Americans want President Clinton to 329 00:20:14,720 --> 00:20:16,319 answer some questions. 330 00:20:15,880 --> 00:20:21,279 Speaker 6: Who is because he visited the White House. Jeffrey Epstein 331 00:20:21,359 --> 00:20:24,640 visited the White House seventeen times while Bill Clinton's president. 332 00:20:24,839 --> 00:20:27,720 I've been in Congress nine years. I think I've been 333 00:20:27,720 --> 00:20:30,720 to the White House nine times to nine years. Epstein 334 00:20:31,079 --> 00:20:33,599 was in the White House, double the amount of time 335 00:20:33,720 --> 00:20:36,559 that I was under one president. And then we know 336 00:20:36,640 --> 00:20:41,279 that Bill Clinton flew on Epstein's playing somewhere around twenty 337 00:20:41,319 --> 00:20:45,559 seven times after the presidency. So no one's accusing Bill 338 00:20:45,599 --> 00:20:48,799 Clinton of any wrongdoing. We just have questions and that's 339 00:20:48,839 --> 00:20:52,880 why the Democrats voted along with Republicans to subpoena Bill Clinton. 340 00:20:53,680 --> 00:20:57,720 Not a single Democrat showed up today, Not a single Democrat, 341 00:20:57,720 --> 00:21:00,599 the ones that have press conferences on the cap steps 342 00:21:00,599 --> 00:21:03,039 and talk about how they're trying to get justice for 343 00:21:03,079 --> 00:21:05,720 the victims and all that, it just seems like they 344 00:21:05,799 --> 00:21:11,920 only care about questioning Republicans. And we've had We've had 345 00:21:11,920 --> 00:21:16,079 a former Cabinet Secretary of Costa in for a grilling, 346 00:21:16,680 --> 00:21:20,400 we had Bill Barr, former Attorney General, in for a grilling. 347 00:21:21,400 --> 00:21:24,680 But for whatever reason, President Clinton didn't show up, and 348 00:21:24,720 --> 00:21:28,480 the Democrats on the committee don't seem to have a problem. 349 00:21:28,720 --> 00:21:31,319 This is the amount of preparation that went into this 350 00:21:31,440 --> 00:21:35,000 deposition today. These were the questions that we were prepared 351 00:21:35,039 --> 00:21:39,720 to ask. We've communicated with President Clinton's legal team for 352 00:21:40,039 --> 00:21:45,400 months now, given them opportunity after opportunity to come in 353 00:21:45,519 --> 00:21:50,440 to give us a day, and they continue to delay, delay, delay, 354 00:21:50,519 --> 00:21:52,160 to the point where we had no idea whether they're 355 00:21:52,160 --> 00:21:53,839 going to show up today or not. I think it's 356 00:21:53,920 --> 00:21:58,279 very disappointing as a result of Bill Clinton not showing 357 00:21:58,359 --> 00:22:01,160 up for his lawful subpoena, which again was voted on 358 00:22:01,240 --> 00:22:04,160 it unanimously by the Committee in a bob partisan matter. 359 00:22:04,599 --> 00:22:07,319 We will move next week in the House Overside Committee 360 00:22:07,440 --> 00:22:10,839 mark up to hold former President Clinton in cond tip 361 00:22:10,960 --> 00:22:11,480 to Cougress. 362 00:22:12,279 --> 00:22:15,759 Speaker 1: So I don't know, I see them do a lot 363 00:22:15,799 --> 00:22:20,319 of subpoenas, and they never seem to actually lead to anything, 364 00:22:20,359 --> 00:22:24,039 even though even if you or I told Congress, who 365 00:22:24,079 --> 00:22:26,160 are not going to show up, oh no, they would 366 00:22:26,200 --> 00:22:30,720 come get you. Elliott Williams, former federal prosecutor, he kind 367 00:22:30,720 --> 00:22:32,160 of shrugged about this as well. 368 00:22:32,519 --> 00:22:36,799 Speaker 8: This is common saber rattling in Congress over the issuance 369 00:22:36,799 --> 00:22:39,480 of subpoenas. Now, to be clear, before anyone has ever 370 00:22:39,519 --> 00:22:42,559 held in contempt of Congress, there's usually an extended period 371 00:22:42,799 --> 00:22:45,519 of back and forth negotiation between the parties. Like it's 372 00:22:45,599 --> 00:22:48,839 rare to go from zero to sixty of subpoena issued. 373 00:22:49,200 --> 00:22:51,599 Recipient of subpoena says, well, you know, I'm not going 374 00:22:51,640 --> 00:22:53,480 to come into testify and immediately that they're slapped with 375 00:22:53,480 --> 00:22:55,599 a contempt proceeding. Usually what would happen is there would 376 00:22:55,599 --> 00:22:58,920 be some back and forth over okay, perhaps perhaps your 377 00:22:58,920 --> 00:23:01,960 appearance won't be public, perhaps it won't be transcribed, perhaps 378 00:23:01,960 --> 00:23:04,759 it'll be just a conversation with the chair or whatever else. 379 00:23:04,799 --> 00:23:10,279 And so you know, there's obviously huge political a huge 380 00:23:10,319 --> 00:23:12,759 political umbrella hanging over this, and I think that's what's 381 00:23:13,079 --> 00:23:14,640 driving some of this. But we haven't seen the end 382 00:23:14,640 --> 00:23:16,960 of it. There will be some negotiation between the parties 383 00:23:17,000 --> 00:23:19,480 because it is still a subpoena from Congress. 384 00:23:19,960 --> 00:23:23,680 Speaker 1: So, in other words, the Epstein story hasn't completely died. 385 00:23:23,880 --> 00:23:27,759 There's still theoretically working on it out there. Probably the 386 00:23:29,160 --> 00:23:34,680 real story today that we don't know what the answer 387 00:23:34,720 --> 00:23:39,400 is going to be. But the heated rhetoric between the 388 00:23:39,559 --> 00:23:44,160 United States and Iran is getting hotter by the moment. 389 00:23:44,640 --> 00:23:49,920 Now we know that the people of Iran are rising 390 00:23:50,000 --> 00:23:55,599 up against their leaders, the Ayatola, but the Ayatola is 391 00:23:55,640 --> 00:23:59,400 also apparently there are lots and lots and lots of 392 00:23:59,440 --> 00:24:02,599 body baggs from the limited information we can get out 393 00:24:02,640 --> 00:24:07,279 because they've cut off the internet. There. It's getting to 394 00:24:07,319 --> 00:24:12,200 the point where it appears like something is going to happen. 395 00:24:13,119 --> 00:24:17,160 Brett McGirk, former National Security Council guy, was asked all 396 00:24:17,200 --> 00:24:20,039 about what he thinks is going to take place. 397 00:24:20,240 --> 00:24:23,240 Speaker 9: Well, he drew a red line last week, and Iran 398 00:24:23,319 --> 00:24:25,759 appears have made the choice to massacre his own people, 399 00:24:25,799 --> 00:24:28,000 so they kind of crossed that line, and the President 400 00:24:28,000 --> 00:24:31,000 today has doubled down on that. I think what they're 401 00:24:31,039 --> 00:24:34,039 doing is trying to put together a holistic policy I 402 00:24:34,039 --> 00:24:38,200 think goes down some measures. I expect to see Iran 403 00:24:38,319 --> 00:24:41,599 is still exporting almost two million barrels a day despite 404 00:24:41,640 --> 00:24:43,920 a US policy to get those down to zero. So 405 00:24:43,960 --> 00:24:48,079 I think you'll have increased enforcement against sanctions trying to 406 00:24:48,119 --> 00:24:51,440 get around this black this communications blackout that the regime 407 00:24:51,480 --> 00:24:54,240 has put on its own people. I was in the 408 00:24:54,240 --> 00:24:56,599 White House during the Women Like Freedom protests in twenty 409 00:24:56,640 --> 00:25:00,359 twenty two. We work with Starlink other tech companies. The 410 00:25:00,400 --> 00:25:03,880 technology is advanced now, so there's direct to sell technology 411 00:25:03,920 --> 00:25:05,759 that might be available for RON. I think you want 412 00:25:05,759 --> 00:25:07,640 to try to do that so allow people to communicate. 413 00:25:07,640 --> 00:25:11,039 That's critical. You want to work with allies, particularly the Europeans, 414 00:25:11,519 --> 00:25:14,880 none of whom have designated the Revolutionary Guards core kind 415 00:25:14,880 --> 00:25:17,000 of the core, the repressive apparatus of the regime as 416 00:25:17,000 --> 00:25:19,279 a terrorist group. I think that all goes out saying 417 00:25:19,480 --> 00:25:22,200 big question is military force and whether or not the 418 00:25:22,240 --> 00:25:24,759 president is going to order strikes here. I think the 419 00:25:24,759 --> 00:25:27,240 indications based on the statement today is that is where 420 00:25:27,279 --> 00:25:30,559 this is heading. That is much more complicated than what 421 00:25:30,599 --> 00:25:34,039 we saw in June. The June operation was against the 422 00:25:34,119 --> 00:25:39,440 nuclear facilities, rehearsed operation over years across administrations. This would 423 00:25:39,440 --> 00:25:42,039 be much more open ended, much more dynamic, And I 424 00:25:42,119 --> 00:25:44,759 have to say the option for a limited strike I 425 00:25:44,759 --> 00:25:46,920 don't think is really there because you can't do a 426 00:25:47,039 --> 00:25:50,519 small strike inside Roun. You have to go after the 427 00:25:50,559 --> 00:25:54,519 missiles and what Iran could do to retaliate. So potentially 428 00:25:54,559 --> 00:25:58,759 we're looking at quite a significant military operation triggered by 429 00:25:59,759 --> 00:26:03,279 a on making this decision again to massacre its own people. 430 00:26:03,319 --> 00:26:05,759 The numbers that are coming out, we can't confirm them, 431 00:26:05,799 --> 00:26:07,599 but they continue to grow and they seem to be 432 00:26:07,680 --> 00:26:10,599 quite large. So I think probably within the White House, 433 00:26:10,640 --> 00:26:12,799 within the intelligence community, they know more than we know 434 00:26:13,359 --> 00:26:15,880 about what is really going on. But it looks pretty grim. 435 00:26:16,200 --> 00:26:20,599 Speaker 1: It does look grim, and maybe the Ayatola and the 436 00:26:20,640 --> 00:26:24,960 top people of the government of Iran will flee the country. 437 00:26:25,359 --> 00:26:29,680 But where does it go from here and is there 438 00:26:29,960 --> 00:26:33,359 anything that can be offered that will bring this to 439 00:26:33,480 --> 00:26:35,960 a halt before we actually have a war? No? 440 00:26:35,960 --> 00:26:39,480 Speaker 9: No, I thought the dangle of talks, which came out yesterday. 441 00:26:39,480 --> 00:26:43,440 The present mentioned yesterday a couple days ago. It's almost absurd. 442 00:26:43,519 --> 00:26:44,680 I got negotiated with Iran. 443 00:26:44,720 --> 00:26:45,079 Speaker 1: Iran. 444 00:26:45,599 --> 00:26:47,799 Speaker 9: Iran will talk to the United States about two issues, 445 00:26:48,279 --> 00:26:50,319 hostages and it's nuclear program. 446 00:26:50,400 --> 00:26:50,759 Speaker 1: That's it. 447 00:26:51,839 --> 00:26:53,559 Speaker 9: And they're trying to dangle talks to talk about the 448 00:26:53,599 --> 00:26:57,440 nuclear program, which of course we struck last summer. There's 449 00:26:57,480 --> 00:27:01,000 really no unless Iran is willing to talk about it's 450 00:27:01,000 --> 00:27:04,000 support for terrorism, is oppression of its own people, the 451 00:27:04,119 --> 00:27:06,240 kind of the core of what it is as a regime. 452 00:27:06,599 --> 00:27:08,960 There's really nothing right now to discuss, and I thought 453 00:27:09,000 --> 00:27:10,880 the President took that off the table today. 454 00:27:11,319 --> 00:27:11,960 Speaker 1: So again I. 455 00:27:13,640 --> 00:27:16,759 Speaker 9: Was looking at this yesterday kind of weighing fifty to 456 00:27:16,799 --> 00:27:20,039 fifty whether the President might order a military force. It 457 00:27:20,079 --> 00:27:23,160 appears that that is now where this is heading. I 458 00:27:23,160 --> 00:27:24,839 just have to say that is going to open up 459 00:27:25,960 --> 00:27:29,960 a lot of unknowns. Unlike Venezuela and unlike the June War. 460 00:27:30,640 --> 00:27:33,920 It's hard to know exactly what the objective here would be. 461 00:27:34,640 --> 00:27:37,240 But the president's statement today is telling the Iranan people 462 00:27:37,359 --> 00:27:41,279 stay in the streets, take over your institutions. Help is coming. 463 00:27:41,759 --> 00:27:44,279 Very hard to walk back from that, So I suspect 464 00:27:44,319 --> 00:27:46,799 now we're gearing up for that, and I have to 465 00:27:46,799 --> 00:27:49,599 say I just I dealt with the crisis from October seventh, 466 00:27:49,640 --> 00:27:53,240 twenty twenty three. Throughout, Iran has made choices from the 467 00:27:53,279 --> 00:27:55,839 first days of that crisis. It chose to join in 468 00:27:55,839 --> 00:28:00,000 with Hamas, it chose to start attacking us, It killed Americans, 469 00:28:01,279 --> 00:28:04,759 it joined the Mayhem, and this is all blowback from 470 00:28:04,799 --> 00:28:07,839 those decisions. And then it's made the decision here this 471 00:28:07,920 --> 00:28:12,039 week to massacre its own people. You know, it speaks 472 00:28:12,039 --> 00:28:14,720 to who what this regime is. And while we all 473 00:28:14,759 --> 00:28:18,559 want to see it changed, however, changing a regime is 474 00:28:18,599 --> 00:28:22,160 extremely difficult. And even if the Supreme Leader was no 475 00:28:22,240 --> 00:28:25,359 longer around, who is actually going to fill the vacuum. 476 00:28:25,359 --> 00:28:27,920 It could be the Revolutionary Guard's corps and the people 477 00:28:28,880 --> 00:28:31,160 with all the guns. So this has the waste to go. 478 00:28:31,400 --> 00:28:33,680 We need to be on support. We on the side 479 00:28:33,720 --> 00:28:36,319 of the Iranian people in the streets. Every single Iranian 480 00:28:36,359 --> 00:28:39,960 you see in the streets is risking their life. Their 481 00:28:40,000 --> 00:28:42,440 friends are being shot and they're still in the streets. 482 00:28:43,079 --> 00:28:47,720 Is extraordinary, it's inspiring. But you know, this situation around 483 00:28:47,759 --> 00:28:51,799 right now is extremely serious, very grim. It's a huge country. 484 00:28:51,960 --> 00:28:53,920 We might know what's going on Tehran, it's hard to 485 00:28:53,960 --> 00:28:56,319 know what's going on in all the other cities and 486 00:28:56,359 --> 00:28:59,880 smaller towns and villages. So look, I think the president 487 00:29:00,559 --> 00:29:03,079 decision to make he may have already made it. 488 00:29:03,519 --> 00:29:07,920 Speaker 1: Yeah, I suspect if you follow the President and his 489 00:29:08,359 --> 00:29:11,559 decision making, he doesn't make it a big announcement. He 490 00:29:11,599 --> 00:29:14,759 has made all kinds of warnings. He has told them 491 00:29:14,799 --> 00:29:18,759 to keep protesting. Help is on the way, and like 492 00:29:19,119 --> 00:29:22,480 McGirk said, that's very hard to walk back. So I'm 493 00:29:22,480 --> 00:29:27,279 guessing something will happen, but the President is not going 494 00:29:27,319 --> 00:29:30,200 to announce it to the media, that's for sure. One 495 00:29:30,200 --> 00:29:33,759 more story for today, that is the Supreme Court spent 496 00:29:33,880 --> 00:29:37,920 this morning hearing the case of two students that are 497 00:29:38,039 --> 00:29:44,000 trans students, one West Virginia, one in Idaho. And this 498 00:29:44,160 --> 00:29:49,079 is about the fact that they are not allowed to 499 00:29:50,480 --> 00:29:54,079 play on the girls' sports teams. So it's more than 500 00:29:54,119 --> 00:29:58,680 about sports, but that's the tool that's being used to 501 00:29:58,680 --> 00:30:04,559 get this before the Supreme Austin Newtson is the Attorney 502 00:30:04,599 --> 00:30:08,279 general for the state of Montana. Uh No, he doesn't 503 00:30:08,319 --> 00:30:10,599 have a he's not part of this case, but he 504 00:30:10,720 --> 00:30:15,920 is advising Idaho in West Virginia on what they could 505 00:30:16,079 --> 00:30:19,519 be doing as they went before the Supreme Court this morning. 506 00:30:20,079 --> 00:30:21,039 Speaker 6: Well, what stood out to me. 507 00:30:21,240 --> 00:30:23,640 Speaker 10: I mean, obviously we're seeing some tough questions from from 508 00:30:23,720 --> 00:30:26,640 Justice so sodo may r from from some of the 509 00:30:27,480 --> 00:30:30,799 more liberal members of the court. Uh, not surprising. I 510 00:30:30,839 --> 00:30:32,960 think we're seeing some good questions from from some of 511 00:30:32,960 --> 00:30:36,160 the other members as well. But I mean, these these 512 00:30:36,160 --> 00:30:37,759 are the kind of cases that you're going to get 513 00:30:37,799 --> 00:30:40,079 tough questions like that. But we've got a couple of 514 00:30:40,079 --> 00:30:42,960 really good solicitors in there who are well prepared and 515 00:30:43,000 --> 00:30:44,880 I think are making good arguments. Well, I mean, I 516 00:30:44,920 --> 00:30:47,160 think that's anitie that likes to get thrown at us. 517 00:30:47,160 --> 00:30:48,759 But actually we were the first in the country to 518 00:30:48,759 --> 00:30:51,920 have an NC double a athlete actually take a position 519 00:30:51,920 --> 00:30:55,599 from a female athlete, but a transgender that came into 520 00:30:55,599 --> 00:30:58,640 our one of our university systems. So this does happen. 521 00:30:59,680 --> 00:31:02,599 It's a it's not something that's just remote. We have 522 00:31:02,680 --> 00:31:05,759 seen this numerous times in Montana. But look big picture, 523 00:31:05,799 --> 00:31:09,640 we've got over fifteen hundred competitions that have been taken 524 00:31:09,680 --> 00:31:13,359 away from girls, over eight hundred and fifty medals that 525 00:31:13,400 --> 00:31:16,359 have been taken away from women and females. So this 526 00:31:16,400 --> 00:31:19,000 isn't something that's just remote that doesn't happen. We know 527 00:31:19,079 --> 00:31:22,279 this happens. We've got documented cases of it in Montana 528 00:31:22,319 --> 00:31:25,880 and Idaho and West Virginia and all the states. 529 00:31:26,160 --> 00:31:28,279 Speaker 1: The state of Idaho is one of the parties in 530 00:31:28,319 --> 00:31:31,240 this case. Of Attorney General for the State of Idaho 531 00:31:31,319 --> 00:31:34,920 is Raoul Labrador, and he had this to say. 532 00:31:35,519 --> 00:31:37,440 Speaker 11: You know, I think if anybody ten years ago would 533 00:31:37,440 --> 00:31:39,119 have said that we would be before the US Supreme 534 00:31:39,160 --> 00:31:43,920 Court today argue whether a male who identifies as a 535 00:31:43,960 --> 00:31:46,920 female should have a right to participate in women's sports, 536 00:31:47,240 --> 00:31:49,440 I think most people would think that we were crazy. 537 00:31:49,640 --> 00:31:52,240 I think all of a sudden, people started realizing that 538 00:31:52,319 --> 00:31:55,640 it did make sense when you saw these athletes who 539 00:31:55,759 --> 00:31:59,279 were clearly males who were competing and dominating in sports. 540 00:32:00,119 --> 00:32:02,240 Speaker 1: Yeah, that is where we are. I mean, he was 541 00:32:02,319 --> 00:32:06,119 even somewhat exasperated by the fact that can you believe 542 00:32:06,119 --> 00:32:08,839 we're before the Supreme Court arguing about what is a 543 00:32:08,839 --> 00:32:11,920 boy and what is a girl? And that is what 544 00:32:12,079 --> 00:32:15,319 So they heard the case today. We'll get a decision 545 00:32:15,359 --> 00:32:17,240 from them, but they're willing to take this on. We'll 546 00:32:17,279 --> 00:32:22,680 get a decision by sometime may or June of this year. 547 00:32:23,319 --> 00:32:27,920 Kamilla Taylor. She is a lawyer for LAMBDA, which represents 548 00:32:28,240 --> 00:32:32,480 the transgender students. Well, let's be clear about what this 549 00:32:32,599 --> 00:32:33,079 law did. 550 00:32:33,720 --> 00:32:36,720 Speaker 12: The legislature in West Virginia passed a law that banned 551 00:32:36,799 --> 00:32:40,519 transgender girls from participating in school sports. And the state 552 00:32:40,599 --> 00:32:44,039 acknowledges that there is only one kid in all of 553 00:32:44,079 --> 00:32:47,039 West Virginia to whom this law applies, and that's Becky 554 00:32:47,200 --> 00:32:50,799 Pepper Jackson, a bubbly fifteen year old who is a 555 00:32:50,839 --> 00:32:53,240 girl like any other girl. She's been understood to be 556 00:32:53,279 --> 00:32:56,119 a girl from the time that we met her for sure, 557 00:32:56,160 --> 00:32:59,319 which was when she was age eleven. She is now fifteen. 558 00:33:00,119 --> 00:33:03,319 She wants to participate on track and cross country with 559 00:33:03,400 --> 00:33:05,680 her friends. She wants to benefit from all of the 560 00:33:05,720 --> 00:33:08,039 things that every other kid in school benefits from when 561 00:33:08,079 --> 00:33:11,240 they participate in school sports. So the matter of fairness 562 00:33:11,319 --> 00:33:13,839 is why the state of West Virginia would pass a 563 00:33:13,920 --> 00:33:16,519 law to address a problem that simply did not exist. 564 00:33:17,240 --> 00:33:21,480 Speaker 1: Oh, the problem definitely exists. She's trying to pretend it 565 00:33:21,480 --> 00:33:25,559 doesn't exist. So Supreme Court, like I said, they'll give 566 00:33:25,640 --> 00:33:29,359 us a decision come may or June of this year, 567 00:33:30,200 --> 00:33:34,160 Wall Street Today decided to take the records that were 568 00:33:34,160 --> 00:33:39,119 set yesterday and on record them today. The dow fell 569 00:33:39,720 --> 00:33:43,000 three hundred ninety eight, the dow at forty nine thousand 570 00:33:43,000 --> 00:33:48,319 and one ninety one, SMB down thirteen Nazdak down twenty four, 571 00:33:48,960 --> 00:33:52,799 gold was down eighteen dollars to forty five ninety six, 572 00:33:53,519 --> 00:33:57,519 and the price of oil continuing to go higher, up 573 00:33:57,559 --> 00:34:00,000 a buck and a half. It's at sixty one dollars 574 00:34:00,039 --> 00:34:04,359 ours now for one barrel of oil. That's it for today. 575 00:34:04,440 --> 00:34:07,279 Thank you for coming by. We will be back again tomorrow. 576 00:34:07,319 --> 00:34:09,480 Hope you are as well. We'll see you then