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<v Speaker 1>The voices of episode glad we have you heard daily

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<v Speaker 1>you're the only voice of reason on.

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<v Speaker 2>The radio fifty five krs the talk station.

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<v Speaker 1>Hey six at fifty five camera see the talk station.

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<v Speaker 1>It is that time of the week, Every Tuesday, it's

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<v Speaker 1>the inside Scoop with bright Bart News. I always start

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<v Speaker 1>out with a segment saying, book market br E I

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<v Speaker 1>t BA RT dot com. You'd be glad you did

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<v Speaker 1>great stuff there, most utly by the economics editor and

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<v Speaker 1>co author of the bright Bart Business Digest, The Return

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<v Speaker 1>of John Carney. Welcome back, John. It's always a pleasure

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<v Speaker 1>to have you on the morning show.

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<v Speaker 2>Yes, thanks for having me.

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<v Speaker 1>Now, we've been hearing about a market correction for months

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<v Speaker 1>and months, if not a couple of years. Market's overvalued.

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<v Speaker 1>There's going to be a correction. And lo and behold.

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<v Speaker 1>Now that the market is down and there has been

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<v Speaker 1>what is characterized as a correction with the S and

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<v Speaker 1>P five hundred ten percent, it's Trump's fault with the tariffs. Now,

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<v Speaker 1>I don't know if you can draw a straight line

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<v Speaker 1>between tariffs and the market. I know the market reacted

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<v Speaker 1>to tariffs and a lot of economists don't like them

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<v Speaker 1>because they say, it's an additional tax on the American people.

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<v Speaker 1>And I'm kind of sitting on the fence one way

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<v Speaker 1>or another about whether they're a good thing or not.

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<v Speaker 1>But you can't compete with a country like China. I mean,

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<v Speaker 1>they have slave labor, they don't have OSHA, they don't

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<v Speaker 1>have unions, they don't have regulations. I mean it's just,

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<v Speaker 1>you know, we don't have an equal playing field. And

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<v Speaker 1>so tariff seemed to be sort of an honest way

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<v Speaker 1>of dealing with goods flowing in from China. What's your take?

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<v Speaker 2>That's right. Look, it even goes further beyond that. China's

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<v Speaker 2>predatory practices actually have really depressed investment in US innovation

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<v Speaker 2>because let's say you want to build a rare earth

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<v Speaker 2>mining facility in the US. So you spend a couple

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<v Speaker 2>hilarious yeah dollars to build this facility. China will subsidize

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<v Speaker 2>its rare earth mining so that the price drops the

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<v Speaker 2>low the cost of production until the US facility goes

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<v Speaker 2>out of business. This has actually happened a few times,

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<v Speaker 2>not just in rare earths, but in many different fields.

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<v Speaker 2>And so what we see is a lack of investment

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<v Speaker 2>because you know, if you put in place that investment,

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<v Speaker 2>China will come in to wipe you out with their

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<v Speaker 2>state backed companies. So what does that mean. It means

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<v Speaker 2>that we have to do something about it if we

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<v Speaker 2>want to be innovative, if we want to be able

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<v Speaker 2>to do these kind of industries in the US, and

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<v Speaker 2>so Trump is doing that. I also have to say

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<v Speaker 2>I don't buy the tariffs caused the selloff argument at all.

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<v Speaker 2>Trump got elected back in November. Everybody knew tariffs were coming.

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<v Speaker 2>The market did very well in November, December, and January,

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<v Speaker 2>sold off in February and the beginning of March. That

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<v Speaker 2>timing doesn't make a lot of sense unless you have

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<v Speaker 2>the theory that somehow people thought Trump was joking about tariffs.

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<v Speaker 2>I mean, he was already president. We know he wasn't joking.

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<v Speaker 2>This was real, it was coming. I don't buy the

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<v Speaker 2>narrative that tariffs caused the sell off.

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<v Speaker 1>Yeah, and I recognize that completely. So I'm willing to

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<v Speaker 1>give that a nod, and again a correction was long overdue.

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<v Speaker 1>But the other component of it is, of course, when

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<v Speaker 1>you point out China, can you know, build something subsidize

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<v Speaker 1>it to to undermine any efforts here to compete on

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<v Speaker 1>any playing field. They also don't have to fight environmental

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<v Speaker 1>lawsuits and challenges that seem to come out of the

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<v Speaker 1>four corners of the globe.

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<v Speaker 2>Right, they don't have judges that will enjoin every single

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<v Speaker 2>thing that the that their government attempts to do to

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<v Speaker 2>encourage innovation. Right. If Donald Trump says, you.

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<v Speaker 3>Know what, I legally, under the law, I have the

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<v Speaker 3>authority to suspend this regulation, to change this regulation, because

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<v Speaker 3>that's been a power given by Congress to the executive

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<v Speaker 3>branch to set the regulations, a federal judge will.

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<v Speaker 2>Say, Nope, I'm not going to let you do that.

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<v Speaker 2>China doesn't have the problem a little of an activist

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<v Speaker 2>judiciary getting in the way of pro industrial reform.

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<v Speaker 1>If they did, they would be, in modern parlance, disappeared.

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<v Speaker 1>If you know what I mean, well, exactly right. And

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<v Speaker 1>the Trump's efforts, of course, are to return business to

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<v Speaker 1>the United States. You know, if it's more expensive to

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<v Speaker 1>do business elsewhere, then someone might likely relocate to the

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<v Speaker 1>United States where they're going to enjoy the tax advantages

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<v Speaker 1>of being here. And that's already borne fruit to some degree.

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<v Speaker 1>Got Ge Aerospace a Sahi JSW Steel Honda, Hyundai, LG, Samsung,

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<v Speaker 1>and stilanis promising to invest billions of dollars here in

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<v Speaker 1>the United States. And this is an effort that's going

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<v Speaker 1>to take time, but it also responds to a challenge

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<v Speaker 1>of something we all painfully learned from COVID is that

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<v Speaker 1>we woke up to the reality that China was making

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<v Speaker 1>literally everything that we needed by way of healthcare products,

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<v Speaker 1>including all of our medicines. That is scary that component itself.

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<v Speaker 1>Pharmaceuticals manufactured based on Chinese components or fully manufactured in China,

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<v Speaker 1>those are pharmaceuticals a Phillip Perry relies on as well.

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<v Speaker 2>That's right. Look, there are some things that it's fine

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<v Speaker 2>if you have to import it. We can make chocolate

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<v Speaker 2>in America without growing our own cocoa because if ever

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<v Speaker 2>there's a disruption in chocolate, that would break my wife's heart.

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<v Speaker 2>But it's not going to be a threat to national

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<v Speaker 2>suiture exactly. But we do need to grow our own

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<v Speaker 2>wheat and we have to have our own millers to

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<v Speaker 2>make the flour so that we can bake bread. So

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<v Speaker 2>and you know that's true about when it comes to

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<v Speaker 2>steel copper. It's true about medicines. Becoming dependent on imports

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<v Speaker 2>for critical things that you cannot survive without, or that

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<v Speaker 2>you cannot be the arsenal of democracy and freedom in

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<v Speaker 2>the world without should be a non starter. We absolutely

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<v Speaker 2>have to do this, and I think that the market

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<v Speaker 2>is actually going to realize that this is going to

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<v Speaker 2>be good for America. I think that that actually there's

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<v Speaker 2>a fun Man survey out of the back of America

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<v Speaker 2>today that says cash holdings among global fund managers are

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<v Speaker 2>very high.

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<v Speaker 3>They were very low.

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<v Speaker 2>This is a contrarian indicator. When there's a lot of

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<v Speaker 2>cash not invested in the market, that's a sign that

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<v Speaker 2>the market can go up. When there's very little cash

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<v Speaker 2>that's not invested, it's very hard for the market to

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<v Speaker 2>go up because nobody has more money to put into stocks.

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<v Speaker 1>Well, one of the other things that seems to be

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<v Speaker 1>bearing fruit, I know it isn't as expensive for me

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<v Speaker 1>to fill my gas tank up right now. Trump's energy

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<v Speaker 1>policies obviously one hundred and eighty degrees shift from the

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<v Speaker 1>Biden administration, and they're green a focus in this nonsensical

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<v Speaker 1>idea that we can rely on the wind and the

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<v Speaker 1>sun to power our electric grid. And fortunately on board

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<v Speaker 1>with the Trump administrations all the above policies. Some major

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<v Speaker 1>tech companies that now want to build their own modular

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<v Speaker 1>nuclear plants, which will allow that technology to come to

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<v Speaker 1>the unwashed masses, which it should have already. So reducing

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<v Speaker 1>the regulatory burden and opening up all of these different

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<v Speaker 1>areas of energy development is going to be really sick

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<v Speaker 1>helpful for our country.

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<v Speaker 2>That's right. If we can bring down the cost of energy,

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<v Speaker 2>that will be very helpful to the US economy. And frankly,

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<v Speaker 2>people who are very upset about things like USAID going

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<v Speaker 2>away should actually be one hundred percent on board with

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<v Speaker 2>energy abundance because guess what will help the developing world

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<v Speaker 2>more than any other handout that we can give them

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<v Speaker 2>is cheaper energy. That's great for the US economy, it's

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<v Speaker 2>great for the global economy, and we're going to get there.

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<v Speaker 2>I mean, I have never seen an administration more focused

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<v Speaker 2>on the production of energy than Donald Trump is. He

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<v Speaker 2>really believes that that is one of the key things

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<v Speaker 2>we can do to fire up our economy.

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<v Speaker 1>Well, and I'm convinced, you know, honestly, and I've never

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<v Speaker 1>been a person who believes that you and I are

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<v Speaker 1>exhaling our way into extinction. You know, CO two happens

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<v Speaker 1>to be plant food, which is good for plants, and

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<v Speaker 1>we chase our tails with this. And I'm I'm really

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<v Speaker 1>convinced considering China builds like two coal plants every single

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<v Speaker 1>day and they don't care whit's worth of what they're

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<v Speaker 1>putting into the environment, that they are one of the

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<v Speaker 1>entities evil they may be that is pushing this myth

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<v Speaker 1>on the United States and the European nations and perpetuating

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<v Speaker 1>this myth that we need to all you tighten our

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<v Speaker 1>belt and rely on the wind and sun to our

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<v Speaker 1>collective peril. Everything runs on energy, and the cheaper the energy,

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<v Speaker 1>the less expensive products and goods and services are. And

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<v Speaker 1>that's like giving everybody a tax break. If you can

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<v Speaker 1>lower my monthly energy bill by one hundred bucks, that's

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<v Speaker 1>making me one hundred dollars more wealthy. I can still

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<v Speaker 1>live in my house at the temperature I want, and

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<v Speaker 1>I've got a little bit more money in my pocket.

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<v Speaker 1>It's like they're whittling it away at every turn.

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<v Speaker 2>That's right. There is almost a semi religious aspect to

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<v Speaker 2>the climate change of armism, where they believe that if

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<v Speaker 2>we can you know, more or less get ourselves to

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<v Speaker 2>live in poverty. Yeah, than the gods of the climate

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<v Speaker 2>will forgive us and everything will go. Well, that's not

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<v Speaker 2>going to happen. There are no gods of the climate,

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<v Speaker 2>and there's very little. Look, I do believe that climate

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<v Speaker 2>change is happening in the world. I do not believe

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<v Speaker 2>that deciding that the US should be a poorer country

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<v Speaker 2>or use less energy is going to make a witch difference.

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<v Speaker 2>Not just because China is going to keep polluting as

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<v Speaker 2>much as they are. They'll even pollute more because if

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<v Speaker 2>we're not using the energy, they'll use more of it, Yeah,

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<v Speaker 2>but also because the long history suggests that climate change

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<v Speaker 2>is something that happens on Earth all the time.

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<v Speaker 1>Exactly, it happens all the time. There was a mini

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<v Speaker 1>ice age. We used to have a glacier that covered

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<v Speaker 1>the entire state of Ohio. It's why it's flat. It's

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<v Speaker 1>why we grow corn here now, you know. And I'm

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<v Speaker 1>glad it's gone. I'm glad they heat it up a

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<v Speaker 1>little bit.

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<v Speaker 2>We are not.

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<v Speaker 1>We couldn't survive if this is all a glacier still,

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<v Speaker 1>So they overlook that and just focus on the most

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<v Speaker 1>recent weather event, as if that one is, Oh, that's

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<v Speaker 1>our fault this time. It's nonsense, that's right.

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<v Speaker 2>You know, it's I was talking to a friend of

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<v Speaker 2>mine who lives in New Orleans and it snowed in

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<v Speaker 2>New Orleans for the first time in a long time,

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<v Speaker 2>and they told us that that is also because of

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<v Speaker 2>climate change. So if the weather's cold, then they say

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<v Speaker 2>that's because of global warming. If the weather's hot, they

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<v Speaker 2>say that's because of global warming. Frankly, as you said,

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<v Speaker 2>the climate changes, if you look at the history of Europe,

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<v Speaker 2>you'll see that climate change actually had a big effect.

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<v Speaker 2>I'm not saying it doesn't matter or it doesn't have

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<v Speaker 2>an effect. It will have an effect. Places like Ohio

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<v Speaker 2>and even further places like North Dakota will become more fertile,

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<v Speaker 2>become better farmland. Frankly, other places will become hotter. That

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<v Speaker 2>is going to happen. However, we can find ways to

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<v Speaker 2>live with that rabit than trying to bow down, you know,

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<v Speaker 2>sort of beat our backs with the whips of anti

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<v Speaker 2>energy policies in order to try to appease the gods

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<v Speaker 2>of climate change.

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<v Speaker 1>Well, you know, every time it happens, the volcano erupts.

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<v Speaker 1>We had the wildfires in California, statisticians. Statisticians come out

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<v Speaker 1>and point out, well, that negated all of our efforts

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<v Speaker 1>to rid the planet a CO two for the past

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<v Speaker 1>five or six years with what it belched out in

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<v Speaker 1>terms of the naturally occurring event. I mean, you're fighting

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<v Speaker 1>the Sissivian challenges. Is not going to happen. So nature

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<v Speaker 1>will take its course and negate what you've tried, and

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<v Speaker 1>we'll all end up starving while we're trying to fight nature.

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<v Speaker 1>Back over to USA, and you mentioned USA it earlier,

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<v Speaker 1>and I know it's just a just a small slice

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<v Speaker 1>of government spending, but what the revelations that are coming

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<v Speaker 1>out of what Department of Government Efficiency is doing are

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<v Speaker 1>just mind boggling. And the American taxpayers getting a real

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<v Speaker 1>eye full of all the waste and fraud and abuse

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<v Speaker 1>that the government has been engaged in, the crazy projects

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<v Speaker 1>we've been funding. And the Democrats are pulling their hair

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<v Speaker 1>out over it, and I keep calling it, they're trying

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<v Speaker 1>to defend the indefensible. I can't believe any single American

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<v Speaker 1>taxpayer really wants us to continue funding pick one trimp

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<v Speaker 1>on treadmills, you know, the Sesame Street in Iraq, I mean,

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<v Speaker 1>go on. The list is almost endless and the low

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<v Speaker 1>hanging fruit. Looking at the Social Security Administration, we've got

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<v Speaker 1>hundreds and thousands of Social Security numbers that are still

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<v Speaker 1>active now whether or not they're getting money from them,

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<v Speaker 1>but they're still active for people who are obviously dead

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<v Speaker 1>that should have been cleaned up a long time ago.

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<v Speaker 2>And those numbers have actually even if the Social Security

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<v Speaker 2>Administration is not sending out checks to people who are

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<v Speaker 2>one hundred and sixty years old, which by the way,

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<v Speaker 2>I know that people say they are not. We need

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<v Speaker 2>a thorough accounting to make sure they are not. I

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<v Speaker 2>do not trust that Bernie Sanders knows that they are

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<v Speaker 2>definitely not setting out checks. He said this the day

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<v Speaker 2>it came out. How could he know that. So yes,

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<v Speaker 2>let's look through the books. But those social Security numbers

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<v Speaker 2>of long den people are actually have actually been used

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<v Speaker 2>in all sorts of fraudulent ways, just getting small business

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<v Speaker 2>loans from the US government. So it is not a

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<v Speaker 2>harmless thing that those exist.

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<v Speaker 1>Of course, and people can use those who are not

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<v Speaker 1>lawfully eligible to be employed in this country. That if

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<v Speaker 1>using fake social Security numbers happens all the time, you

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<v Speaker 1>just grab one, you present it to your employer, and

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<v Speaker 1>boom you're in. So there's just all kinds of areas

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<v Speaker 1>that where it can be abused.

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<v Speaker 2>And also think that you brought up the you know,

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<v Speaker 2>one of the excuses people say, like usaid, it's just

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<v Speaker 2>the small piece of the federal government. First of all,

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<v Speaker 2>it's forty eight to sixty billion dollars. In my book,

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<v Speaker 2>that's that's not real money. Second, it's incredible that they

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<v Speaker 2>try to say, why do you care about that sixty billion? Well, okay, look,

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<v Speaker 2>if you write me a check for sixty billion, I

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<v Speaker 2>promise I will also waste it, and nobody should care.

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<v Speaker 2>The other thing I will say is that the way

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<v Speaker 2>our deficit is built is on a zillion little pieces

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<v Speaker 2>that you if you could say to any one part, oh,

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<v Speaker 2>that's just so small, don't do anything about it. Well

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<v Speaker 2>that means you can't do anything about anything, because every

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<v Speaker 2>aggregate is built of small pieces.

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<v Speaker 1>Well, I'm a firm believer in my lifelong adage, mind

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<v Speaker 1>the pennies, the dollars, mind themselves. So I wasn't trying

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<v Speaker 1>to negate the importance of what they're doing. Everything counts,

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<v Speaker 1>even if it's allows the four hundred thousand dollars grant

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<v Speaker 1>to some university for DEI or something cut it. We

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<v Speaker 1>shouldn't be spending our money on that. I'll tell you what.

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<v Speaker 1>John Carney, he is the economics senator co author of

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<v Speaker 1>the Breitbart Business Digest. I really strongly encourage you to

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<v Speaker 1>bookmark Breitbart dot com. It's an integral part of my

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<v Speaker 1>preparation for the morning show. They do great reporting and

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<v Speaker 1>they stay on top of things you're not going to

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<v Speaker 1>find the mainstream media.

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<v Speaker 2>John.

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<v Speaker 1>It's always a pleasure talking with you, my friend. I

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<v Speaker 1>look forward to our next conversation.

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<v Speaker 2>Thanks for having me.

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<v Speaker 1>This is great my pleasure. It's a twenty one stick

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<v Speaker 1>around the Daniel Davis Deep Dive. We're at the latest

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<v Speaker 1>on Russia, Ukraine, Israel and Jamas with Daniel at the

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<v Speaker 1>bottom of the hour. Hope you can stick around for that.

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<v Speaker 1>The first word for my good friends at USA Insallation.

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<v Speaker 1>Every time of year is a great time to have

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<v Speaker 1>your home insulated. If you're under insulated, you are paying

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<v Speaker 1>too much Beacon of energy bills. The warm weather's coming, folks,

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<v Speaker 1>You're gonna be running the AC and you want your

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<v Speaker 1>house to remain cool. With that temperature you like, and

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<v Speaker 1>you don't want to spend a blue billion dollars doing

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<v Speaker 1>it with the energy prices going through the roof. That's

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<v Speaker 1>what USA Insallation is all about. Under insulated or uninsulated homes.

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<v Speaker 1>You need to make the call. It's a free inspection

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<v Speaker 1>and a free quote find out if you're under insulated.

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<v Speaker 1>If your home is built after the mid seventies, you

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<v Speaker 1>may have insulation in those walls, but it's not sufficient.

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<v Speaker 1>That was my daughter's case. With like old R twelve,

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<v Speaker 1>it loses its insulated power and properties, but it's also insufficient.

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<v Speaker 1>From the get go USA's premium phone made right here

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<v Speaker 1>in the state of Ohio. We'll make you eligible for

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<v Speaker 1>a twelve hundred dollars energy tax credit, and it's still

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<v Speaker 1>only only ninety nine dollars a month interest free, and

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<v Speaker 1>you may very well save more than that on your

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<v Speaker 1>monthly bill. So do the right thing and call for

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<v Speaker 1>the free inspection. Five one three three A one three

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00:16:10.240 --> 00:16:13.159
<v Speaker 1>six two six that's three point eight one foam. Check

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<v Speaker 1>them out online learn more about the product at usainsulation

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<v Speaker 1>dot net. Fifty five KRC, the talk station

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<v Speaker 2>Our iHeartRadio Music Awards celebrated the music and artist