1 00:00:24,079 --> 00:00:29,039 Speaker 1: And hello, how are you welcome? Welcome to the Big 2 00:00:29,079 --> 00:00:33,560 Podcast on this Tuesday. Today is the twentieth day of January, 3 00:00:34,200 --> 00:00:37,439 Year of Our Lord, twenty twenty six. My name is 4 00:00:37,479 --> 00:00:42,479 Tom Sullivan. So yep, this is every four years on 5 00:00:42,520 --> 00:00:46,560 this day we do inauguration Day. So that means it's 6 00:00:46,600 --> 00:00:49,000 been one year to the day that Donald Trump is 7 00:00:49,039 --> 00:00:53,479 into his second term. I know it goes by fast, 8 00:00:53,479 --> 00:00:57,399 but if you stop and you think about it a lot, 9 00:00:57,640 --> 00:01:01,520 there's a lot of people today talking about what happened 10 00:01:01,520 --> 00:01:05,319 in the last year. The Democrats are grumbling, the Republicans 11 00:01:05,319 --> 00:01:09,640 are all thrilled. But it's it's and so we've got that. 12 00:01:09,680 --> 00:01:16,159 Plus go back to April to the Liberation Day. Remember 13 00:01:16,200 --> 00:01:20,640 this stock market took a big dive. Well did it again? 14 00:01:20,840 --> 00:01:23,760 Because the President has come out on this whole business 15 00:01:23,799 --> 00:01:29,239 about Greenland and he has said, you know, I'm going 16 00:01:29,319 --> 00:01:34,239 to put tariffs on eight European countries if you don't 17 00:01:34,280 --> 00:01:39,200 go along with the United States, basically getting Greenland and 18 00:01:40,959 --> 00:01:46,640 Europe's man. And the President is well, when we sort 19 00:01:46,719 --> 00:01:49,760 through all this today, I think what you'll learn is 20 00:01:49,799 --> 00:01:53,280 that the President is it's his style. I've told you before. 21 00:01:54,040 --> 00:01:59,079 I agree with about eighty percent. I don't know, some 22 00:01:59,280 --> 00:02:02,359 number like that. A decent majority of the things that 23 00:02:02,760 --> 00:02:06,920 President Trump has done or is trying to do, I'm 24 00:02:06,959 --> 00:02:11,439 with him, but I'm against about eighty percent of the 25 00:02:11,479 --> 00:02:15,000 way he does it. But that's him. I'm not him, 26 00:02:15,199 --> 00:02:20,840 you're not him. He's a unique cat. He really goes 27 00:02:20,879 --> 00:02:26,000 out and in order to negotiate something, he goes right 28 00:02:26,080 --> 00:02:29,080 to the top hilt of whatever it is out there 29 00:02:29,159 --> 00:02:33,159 that he wants to negotiate. So we'll get into that. 30 00:02:33,199 --> 00:02:36,599 We've got Greenland, we've got the economy, we've got the 31 00:02:36,639 --> 00:02:40,479 markets taking a big dive today because of all the tariffs, 32 00:02:40,520 --> 00:02:43,479 the ten percent tariffs which go into effect on the 33 00:02:43,520 --> 00:02:47,800 European nations on February first, and twenty five percent tariffs 34 00:02:47,800 --> 00:02:51,680 which going to effect if we don't have Greenland by 35 00:02:51,759 --> 00:02:54,439 June first. So we've got all that little bit of 36 00:02:54,520 --> 00:02:58,800 update out of Minnesota. The game, the football game last 37 00:02:58,840 --> 00:03:07,039 night for the college football Championship. Congratulations Indiana. It was 38 00:03:07,120 --> 00:03:09,719 it was the toughest They've been rolling over everybody, but 39 00:03:09,759 --> 00:03:13,439 they did not roll over Miami. Miami put up a very, very, 40 00:03:13,560 --> 00:03:19,560 very tough game. But let's start with looking back a 41 00:03:19,680 --> 00:03:27,080 year and on the economy, and it's well, there's I mean, 42 00:03:27,120 --> 00:03:29,479 you can go through a lot of it. Basically, inflation 43 00:03:29,680 --> 00:03:33,439 is about where it was a year ago. The unemployment 44 00:03:33,520 --> 00:03:37,680 rate is actually higher than where it was a year ago. 45 00:03:38,280 --> 00:03:43,360 Interest rates on today's news about the terrorists on Europe, 46 00:03:44,000 --> 00:03:47,080 the stock market took a dive, and guess what bonds did. 47 00:03:47,199 --> 00:03:50,680 They went down to, which meant interest rates went up. 48 00:03:51,919 --> 00:03:54,960 Mortgage rates were starting for the first time to get 49 00:03:55,199 --> 00:03:57,840 there was a five, a very high five, but a 50 00:03:57,960 --> 00:04:01,240 five in front of the average mortgage rate last week. 51 00:04:01,280 --> 00:04:05,800 And now they're based off of the ten year treasury bond, 52 00:04:06,039 --> 00:04:11,000 and now the tenuere went up today. Interest rates went up, 53 00:04:11,039 --> 00:04:14,159 so that means that the mortgage market is probably going 54 00:04:14,199 --> 00:04:16,160 to look at this and go, well, there goes interest 55 00:04:16,199 --> 00:04:18,680 rates again going the wrong direction. So there's a lot 56 00:04:18,720 --> 00:04:22,879 to talk about. Robert Wolf, who used to run ubs 57 00:04:22,959 --> 00:04:28,040 here in America, and Steve Moore, economists out of Washington, 58 00:04:28,959 --> 00:04:34,360 had commits earlier today about where and how the economy's doing. 59 00:04:34,600 --> 00:04:38,639 Speaker 2: Yeah, first of all, Liberation Day was chaotic and crazy 60 00:04:38,680 --> 00:04:41,240 and the execution was poorly and everyone said that the 61 00:04:41,279 --> 00:04:45,560 Republicans and the Democrats. So what I would say is yes, 62 00:04:45,639 --> 00:04:48,279 the market has gone up, but the glass could be 63 00:04:48,319 --> 00:04:51,519 half full of half empty, depending who speak to manufacturing 64 00:04:51,600 --> 00:04:53,879 jobs and down almost one hundred thousand for the last 65 00:04:53,879 --> 00:04:57,519 twelve months. You look at today's announcement on tariffs. Yes, 66 00:04:57,560 --> 00:05:01,079 the stock market didn't like. Okay, right now, our biggest 67 00:05:01,120 --> 00:05:04,639 trading partners are France and Germany and the European Union 68 00:05:05,160 --> 00:05:08,839 and they're not happy today. And this approach with tarifs 69 00:05:08,959 --> 00:05:11,240 over Greenland. I don't think it is a smart approach. 70 00:05:11,319 --> 00:05:13,920 The market doesn't think it is a smart approach. Besson 71 00:05:14,000 --> 00:05:16,600 can gaslight everyone he wants and say everyone stand by. 72 00:05:16,920 --> 00:05:21,519 But today affordability is getting hit. Mortgage prices have backed up. Okay, 73 00:05:22,040 --> 00:05:25,120 I guarantee. With rates backing up, that's not a good sign. 74 00:05:25,439 --> 00:05:29,120 And people are selling America. So to Marth's point, yes, 75 00:05:29,480 --> 00:05:31,600 he's acting like a bull in a China shop and 76 00:05:31,639 --> 00:05:34,959 I'm hopefully that long run it works. But day to day, 77 00:05:35,000 --> 00:05:38,839 this undue volatility is not good for business. And that 78 00:05:38,959 --> 00:05:41,680 thinks a trading war with the European Union is a 79 00:05:41,720 --> 00:05:44,439 good right now. Look, you're right, today is a down 80 00:05:44,879 --> 00:05:47,800 day on the market, but you know, the market's up a. 81 00:05:47,839 --> 00:05:49,120 Speaker 1: Lot in the last year. 82 00:05:49,160 --> 00:05:52,279 Speaker 2: I'm not talking a very market economy, Steve, I'm not 83 00:05:52,279 --> 00:05:54,560 talking about the stock market. Just like the Wall Street 84 00:05:54,639 --> 00:05:58,439 Journal said, ninety six percent of tariffs have been paid 85 00:05:58,439 --> 00:06:02,519 by American companies and American consumers. Let's quick gaslighting the 86 00:06:02,560 --> 00:06:06,120 Americans that even you say, Steve, it's a tax on 87 00:06:06,199 --> 00:06:08,800 the consumer. You've said it a thousand times. So how 88 00:06:08,920 --> 00:06:12,079 is tarish today a good thing? No more tarish today 89 00:06:12,079 --> 00:06:13,959 a good thing? Just to answer that question, is it 90 00:06:14,000 --> 00:06:14,720 a good thing or not? 91 00:06:15,079 --> 00:06:15,240 Speaker 1: No? 92 00:06:15,439 --> 00:06:17,639 Speaker 2: Look, I'm not a big fan. I'm not a big 93 00:06:17,680 --> 00:06:19,879 fan of Terrist, but look at the You got to 94 00:06:19,920 --> 00:06:22,399 look at it in total, and it's looking really good. 95 00:06:22,600 --> 00:06:24,560 Speaker 3: When was the last time we saw five percent growth? 96 00:06:24,639 --> 00:06:26,560 Speaker 2: Robert, I think that's a fair point to make. 97 00:06:29,040 --> 00:06:31,759 Speaker 1: Well, that comment about from Steve Moore about five or 98 00:06:31,759 --> 00:06:35,079 ten growth, we haven't seen it yet. The Atlanta Fed, 99 00:06:35,800 --> 00:06:41,680 which has very noisy numbers, even Scott Besson the troysure sector. 100 00:06:41,839 --> 00:06:45,040 Let me pull that clip out here because even he 101 00:06:46,639 --> 00:06:49,639 started off talking about the fact that the Atlanta Fed 102 00:06:49,839 --> 00:06:53,279 has noisy numbers. Listen to what Listen to what Scott 103 00:06:53,319 --> 00:06:54,879 Besson has to say. 104 00:06:54,720 --> 00:06:58,959 Speaker 4: The Atlanta Sted GDP now number, which is very noisy 105 00:06:59,079 --> 00:07:03,720 number is now reading five point three because remember the 106 00:07:03,759 --> 00:07:10,079 fourth quarter gdpluded included the Schumer shutdown, so some of 107 00:07:10,120 --> 00:07:13,399 that will be pushed into the first quarter. So I'm 108 00:07:13,439 --> 00:07:17,480 expecting that we could be well over well north to three, 109 00:07:18,079 --> 00:07:21,759 and we'll have inflation coming down. As you said, productivity 110 00:07:21,839 --> 00:07:27,160 is very high, and we have measured inflation and observed inflation, 111 00:07:27,680 --> 00:07:30,800 and with the observed inflation, I think we can see 112 00:07:31,040 --> 00:07:35,839 that prices already down and that will trickle into the 113 00:07:35,839 --> 00:07:38,519 CPI and the PCE, which the Fed looks at. 114 00:07:38,879 --> 00:07:42,800 Speaker 1: He started off by the noisy numbers from the Atlanta Fed. 115 00:07:42,839 --> 00:07:45,199 They really are because they include gold and other things 116 00:07:45,199 --> 00:07:49,639 in their numbers. But bottom line is, most economists say 117 00:07:50,079 --> 00:07:53,480 twenty twenty six is going to be a very good 118 00:07:53,600 --> 00:07:59,759 year for the economy to grow. How they handle the 119 00:07:59,800 --> 00:08:03,959 pre ices, and they're still high, they should be lower, 120 00:08:04,439 --> 00:08:07,079 But trying to lower prices isn't really the goal. The 121 00:08:07,120 --> 00:08:11,720 goal is to get people's wages higher. Yet there seems 122 00:08:11,759 --> 00:08:15,800 to be a little tiny crack in the labor numbers 123 00:08:15,800 --> 00:08:18,920 that show that there is maybe a softening, and if so, 124 00:08:19,079 --> 00:08:22,639 then you're not going to get big pay raises. If 125 00:08:22,959 --> 00:08:26,199 companies aren't all that interested in hiring anyway. The bottom 126 00:08:26,240 --> 00:08:29,160 line is back to Robert Wolf and Steve Moore, is 127 00:08:29,199 --> 00:08:32,360 that mortgage prices were coming down now on this announcement 128 00:08:32,399 --> 00:08:36,600 about the tariffs. And we were also waiting today to 129 00:08:36,679 --> 00:08:42,200 see if the Supreme Court was going to report their 130 00:08:42,279 --> 00:08:46,559 ruling on the tariffs, on whether the president has the 131 00:08:46,759 --> 00:08:52,240 power to enact tariffs or is that something that can 132 00:08:52,279 --> 00:08:56,360 only be done by Congress. And the other day mister 133 00:08:56,399 --> 00:08:58,360 Wonderful was talking about and I agree with him one 134 00:08:58,440 --> 00:09:00,799 hundred percent. I think what we're the Supreme Court is 135 00:09:00,840 --> 00:09:04,399 going to come down to pure speculation on my part, 136 00:09:05,159 --> 00:09:08,960 is that they will say for reciprocal tariffs, the power 137 00:09:09,200 --> 00:09:12,159 the president has the power to do that. In other words, 138 00:09:12,200 --> 00:09:16,679 if Japan charges us five percent for their products, we 139 00:09:16,799 --> 00:09:21,279 can charge them five percent for our products. But the 140 00:09:21,840 --> 00:09:26,200 President Trump uses it, just like this business about Greenland, 141 00:09:26,879 --> 00:09:33,679 to enact behavior from another country. Not based on he's 142 00:09:33,720 --> 00:09:37,000 going to He's going to punish the European countries, our 143 00:09:37,080 --> 00:09:40,320 biggest trading partners. By the way, the EU is a 144 00:09:40,360 --> 00:09:46,960 bigger trading partner than Canada or Mexico or anybody even China. 145 00:09:47,279 --> 00:09:50,200 So the EU is really critical when it comes to trade. 146 00:09:50,240 --> 00:09:54,000 So the President is going to punish them unless they 147 00:09:54,039 --> 00:10:00,440 get on board with the United States somehow owning trolling. 148 00:10:01,240 --> 00:10:05,200 I don't know Greenland, so you know the whole debate there. 149 00:10:08,039 --> 00:10:12,279 Let's top Greenland for a minute. It's also starting to 150 00:10:12,399 --> 00:10:18,279 make more sense to me that Greenland is not just 151 00:10:18,320 --> 00:10:24,320 a little a lot strategic, I mean very, very important, 152 00:10:24,440 --> 00:10:28,120 and what President Trump is trying to do is keep 153 00:10:28,159 --> 00:10:31,519 it from falling into the hands of Russia or China, 154 00:10:32,200 --> 00:10:36,320 not today, but twenty years, thirty years down the road. 155 00:10:36,559 --> 00:10:40,240 Plus they've got a bunch of rare earth minerals and 156 00:10:40,320 --> 00:10:45,240 who knows what else. Mike Lawler, who is a Republican 157 00:10:45,240 --> 00:10:49,840 Congressman from New York, this is his idea about Greenland. 158 00:10:50,600 --> 00:10:55,360 Speaker 5: Look, I think there is broad bipartisan opposition in Congress 159 00:10:55,399 --> 00:10:58,639 to any use of force. But I think the President 160 00:10:59,480 --> 00:11:04,720 has made an important point about the importance of Greenland 161 00:11:05,120 --> 00:11:10,360 strategically and from the standpoint of national and global defense, 162 00:11:10,440 --> 00:11:14,440 and especially in relation to NATO. The oil tanker that 163 00:11:14,600 --> 00:11:17,600 was seized off the coast of Iceland. That oil tanker 164 00:11:17,679 --> 00:11:21,200 came from Iran, went to Venezuela and was headed to Russia. 165 00:11:21,879 --> 00:11:26,799 This unholy alliance that has been brought over the last 166 00:11:26,879 --> 00:11:32,159 few years by China, Iran, Russia, Venezuela, North Korea and 167 00:11:32,200 --> 00:11:36,480 others has sought to destabilize the US, Europe and the 168 00:11:36,480 --> 00:11:40,120 free world. And what the President is focused on extensively 169 00:11:41,080 --> 00:11:45,240 is pushing back against that malign influence in our region. 170 00:11:45,600 --> 00:11:50,759 We already have military presence on Greenland. I think if 171 00:11:51,000 --> 00:11:55,480 the end result is a greater cooperation with NATO and 172 00:11:55,960 --> 00:11:58,279 increased in the long run, that is a good deal. 173 00:11:58,679 --> 00:12:02,759 If there was an opportunity to negotiate a sale, as 174 00:12:02,960 --> 00:12:06,600 in the past with Alaska or the Louisiana purchase, this 175 00:12:06,679 --> 00:12:10,399 is not a new concept, great but the use of 176 00:12:10,440 --> 00:12:13,320 military force, in my opinion, should be off the table. 177 00:12:14,120 --> 00:12:17,080 I do not think that is in our interest and 178 00:12:17,120 --> 00:12:18,879 certainly not that of our allies. 179 00:12:19,200 --> 00:12:24,159 Speaker 1: I could play clips of twenty five other people basically 180 00:12:24,159 --> 00:12:26,320 the same thing, going, no, we're not going to do 181 00:12:26,360 --> 00:12:29,679 the military thing, but we really do want to have 182 00:12:29,759 --> 00:12:33,320 some sort of control more than control, and make them, 183 00:12:33,519 --> 00:12:37,440 like I said yesterday, maybe like Guam a territory. In fact, 184 00:12:37,440 --> 00:12:43,120 the President posted on Truth's Social an AI version of 185 00:12:43,399 --> 00:12:49,639 him standing with JD. Vance and Marco Rubio as the 186 00:12:49,679 --> 00:12:54,799 President putting a sign into the earth and it says 187 00:12:55,879 --> 00:13:00,799 Greenland Territory of the United States two thousand, twenty six. 188 00:13:01,279 --> 00:13:03,759 So maybe that's what it will be, will be a territory. 189 00:13:04,799 --> 00:13:10,480 And again the President's point is Denmark isn't doing anything 190 00:13:10,840 --> 00:13:15,200 to help the people of Greenland to support them financially. 191 00:13:16,240 --> 00:13:19,879 Greenland cannot financially stand on their own. They need somebody, 192 00:13:20,799 --> 00:13:27,399 They need a sugar daddy somewhere to basically support that country. 193 00:13:27,759 --> 00:13:30,559 There's fifty seven thousand people that live in Greenland, most 194 00:13:30,559 --> 00:13:35,159 of it is ice, but they need somebody. And so 195 00:13:36,080 --> 00:13:40,399 we would rather it be US than Denmark because Denmark 196 00:13:40,440 --> 00:13:45,279 isn't really helping them along. Here's the President last night 197 00:13:46,480 --> 00:13:52,320 on the airport apron talking about Denmark or about Greenland. 198 00:13:53,600 --> 00:13:55,360 I don't think they're going to push back too much. 199 00:13:55,360 --> 00:13:55,600 Speaker 6: Sick. 200 00:13:56,120 --> 00:13:57,080 Speaker 3: We have to have it. 201 00:13:57,559 --> 00:13:59,039 Speaker 7: They have to have this done. 202 00:13:59,440 --> 00:14:01,039 Speaker 1: They can't protected Jed Clark. 203 00:14:01,159 --> 00:14:04,600 Speaker 7: They're wonderful people, and I know the leaders are very 204 00:14:04,720 --> 00:14:07,840 good people, but they don't even go there. 205 00:14:08,440 --> 00:14:09,480 Speaker 1: And you know, because. 206 00:14:09,240 --> 00:14:12,039 Speaker 7: About what they're five hundred years ago and then left. 207 00:14:12,600 --> 00:14:16,679 That doesn't give you title to property. So we'll be 208 00:14:16,799 --> 00:14:19,080 talking about it with the various people. 209 00:14:20,240 --> 00:14:24,639 Speaker 1: Well, he'll be talking about it tomorrow morning. The President 210 00:14:24,679 --> 00:14:30,320 tonight is taking off for Davos, Switzerland, and usually Davos 211 00:14:30,440 --> 00:14:35,519 is a bore of a bunch of business executives around 212 00:14:35,559 --> 00:14:39,000 the world, basically going off to play, but they are 213 00:14:39,279 --> 00:14:42,480 actually the world leaders are there. President Trump is going 214 00:14:42,519 --> 00:14:45,399 to be there and apparently he's going to give a 215 00:14:45,399 --> 00:14:48,639 speech tomorrow morning, but then after that it's going to 216 00:14:48,759 --> 00:14:51,440 I think he's staying for a day or two, and 217 00:14:51,519 --> 00:14:53,960 after that it's meeting after meeting, after meeting with all 218 00:14:54,000 --> 00:14:57,200 the European leaders about what to do. So I expect 219 00:14:57,559 --> 00:15:02,720 we should get an announcement coming out of that. Back 220 00:15:02,840 --> 00:15:08,159 to Scott Besson talking specifically about Greenland. 221 00:15:07,919 --> 00:15:11,039 Speaker 4: I think the President is worried that if there were 222 00:15:11,159 --> 00:15:15,080 an incursion into Greenland, the US would be called upon 223 00:15:15,519 --> 00:15:20,600 to defend Greenland. Greenland's becoming more and more attractive for 224 00:15:20,960 --> 00:15:25,679 the foreign conquest, and he very strongly believes that it 225 00:15:25,759 --> 00:15:28,279 must be part of the United States to prevent a 226 00:15:28,399 --> 00:15:33,759 conflict rather than getting the US engaged in expost into 227 00:15:33,799 --> 00:15:35,799 a hot conflict. 228 00:15:35,600 --> 00:15:39,200 Speaker 1: And if you remember him, Gordon Sunland, he was the 229 00:15:39,240 --> 00:15:46,240 former EU ambassador in Trump one point zero but she 230 00:15:48,080 --> 00:15:52,279 I think made a very good point about why it 231 00:15:52,320 --> 00:15:55,759 would be smart to have more control over Greenland. Here's 232 00:15:55,799 --> 00:15:56,519 Gordon Sland. 233 00:15:57,080 --> 00:15:59,120 Speaker 8: Let's clear up a couple of things. First of all, 234 00:15:59,240 --> 00:16:02,279 the United States is not going to take Greenland by force. 235 00:16:03,360 --> 00:16:06,279 This is an issue that President Trump brought up in 236 00:16:06,279 --> 00:16:10,720 his first term through his ambassador to Greenland, and it 237 00:16:10,799 --> 00:16:14,759 is becoming a more critical piece of real estate given 238 00:16:14,799 --> 00:16:18,919 our future alliance on Golden Dome and our future alliance 239 00:16:18,960 --> 00:16:22,120 on rare earths. What President Trump is trying to do 240 00:16:22,720 --> 00:16:27,519 is to focus the EU on its importance and preemptively 241 00:16:27,600 --> 00:16:31,360 box out Russia and China if we did nothing, if 242 00:16:31,360 --> 00:16:35,279 we just held the status quo. He's absolutely correct. There 243 00:16:35,360 --> 00:16:40,600 is virtually no defense of the island, and very very insidiously, 244 00:16:40,879 --> 00:16:43,039 all of a sudden, you could wake up one day 245 00:16:43,440 --> 00:16:46,879 and someone has built a weather station or a dock 246 00:16:47,080 --> 00:16:50,840 or an outpost, and then you have to engage one 247 00:16:50,879 --> 00:16:54,759 of our adversaries directly to kick them off. What he's 248 00:16:54,799 --> 00:16:58,559 trying to do is foreclose all of that and immediately 249 00:16:59,639 --> 00:17:03,879 folk the Europeans on this issue as we start investing 250 00:17:03,960 --> 00:17:07,960 billions and billions of dollars in a very novel and 251 00:17:08,039 --> 00:17:11,720 effective defense system. He's not doing a great job of 252 00:17:11,759 --> 00:17:13,240 explaining what he's doing. 253 00:17:14,119 --> 00:17:17,440 Speaker 1: Yeah, he's not doing the normal let me tell you 254 00:17:17,480 --> 00:17:23,319 what I plan on doing. That's his style, and a 255 00:17:23,319 --> 00:17:28,359 lot of people don't get it that he will create 256 00:17:28,480 --> 00:17:32,640 all kinds of havoc to basically get to the point 257 00:17:32,640 --> 00:17:36,240 where he gets them into negotiations to get what he 258 00:17:36,319 --> 00:17:39,680 eventually wants. Someone goes on about that. 259 00:17:40,200 --> 00:17:43,680 Speaker 8: Well, that's the Trumps style, and I'm not going to 260 00:17:43,759 --> 00:17:47,839 try to explain or apologize. But let me tell you something. 261 00:17:48,039 --> 00:17:51,799 There are going to be numerous meetings in Davos between 262 00:17:51,880 --> 00:17:56,240 Trump and our allies, and I predict something will come 263 00:17:56,240 --> 00:18:00,839 out of Davos or shortly thereafter that will more greatly 264 00:18:01,000 --> 00:18:06,640 solidify our position in Greenland, make it clear that Russia 265 00:18:06,680 --> 00:18:10,200 and China have no place in Greenland of any kind 266 00:18:10,240 --> 00:18:14,079 in the future, not even the teeny tiniest bit of 267 00:18:14,799 --> 00:18:17,839 claim on that island. And that's what Trump is trying 268 00:18:17,880 --> 00:18:20,640 to do. He's looking at ten or twenty or thirty 269 00:18:20,720 --> 00:18:23,599 years from now. He's not looking at tomorrow. And no, 270 00:18:23,759 --> 00:18:26,319 we're not going to fight NATO, we're not going to 271 00:18:26,359 --> 00:18:29,279 fight the EU, and we're not pulling out of NATO either. 272 00:18:29,559 --> 00:18:33,880 The Europeans are always offended by everything. And you know, 273 00:18:33,960 --> 00:18:36,720 if I had to count how many time ambassador. 274 00:18:37,400 --> 00:18:39,920 Speaker 1: So the reporter was saying, don't you think, don't you think? 275 00:18:39,960 --> 00:18:43,240 Don't you think what he said was offensive? And something 276 00:18:43,359 --> 00:18:44,559 goes of course it was. 277 00:18:45,000 --> 00:18:48,240 Speaker 8: Of course it's offensive. That's his playbook and you've been 278 00:18:48,279 --> 00:18:51,839 watching the Sarah for years. That's how he gets these 279 00:18:51,880 --> 00:18:55,960 people focused. They have a long and treasured history of 280 00:18:56,000 --> 00:18:59,880 playing ropodope on every issue and on every subject save 281 00:19:00,119 --> 00:19:04,160 two issues, and two subjects. One is regulation. They can 282 00:19:04,200 --> 00:19:07,920 move rapidly to pass additional regulations, and they can move 283 00:19:08,039 --> 00:19:11,759 rapidly to increase their taxes. Other than that, they move 284 00:19:11,880 --> 00:19:15,359 glacially on every other issue. And what Trump is trying 285 00:19:15,359 --> 00:19:18,160 to do is he's checking his watch, not his calendar. 286 00:19:18,400 --> 00:19:21,440 But yes, you're correct, of course they're offended. But in 287 00:19:21,480 --> 00:19:24,759 that offense comes a meeting and comes an outcome, and 288 00:19:24,759 --> 00:19:27,160 that's what he wants, and he wants the outcome in 289 00:19:27,279 --> 00:19:29,160 days and weeks, not in decades. 290 00:19:29,400 --> 00:19:31,640 Speaker 1: Yeah. So the more I listen to some of these 291 00:19:31,680 --> 00:19:34,799 people about what Donald Trump is doing, and obviously Sutherland 292 00:19:34,880 --> 00:19:38,000 was was an ambassador in Trump one point. Oh, he 293 00:19:38,039 --> 00:19:41,799 knows Trump and he knows how Trump works. And it 294 00:19:41,799 --> 00:19:44,599 may be offensive, it may be brash, it may be bold, 295 00:19:44,759 --> 00:19:46,920 and when you first hear what he has to say 296 00:19:47,400 --> 00:19:50,799 is shocking and many times many cases, but you sit 297 00:19:50,880 --> 00:19:53,160 back and watch a little bit and listen a little bit, 298 00:19:53,160 --> 00:19:56,559 and pretty soon you figure out what he is up to. 299 00:19:57,119 --> 00:20:01,680 Even Christa Nunu, the former governor of New Hampshire, said 300 00:20:01,720 --> 00:20:04,920 that again that is just Donald Trump's style. 301 00:20:05,400 --> 00:20:08,720 Speaker 3: Is Greenland important yes? Is it a strategic asset yes? 302 00:20:09,119 --> 00:20:11,079 Is it at risk with Russia and John yes? So 303 00:20:11,160 --> 00:20:14,440 should we do more there to secure that? Absolutely? But 304 00:20:14,519 --> 00:20:16,200 with the president, a lot of us say, well, what 305 00:20:16,240 --> 00:20:18,279 are the methods here? Are we going to have military action? 306 00:20:18,400 --> 00:20:18,440 Speaker 9: No? 307 00:20:18,559 --> 00:20:18,839 Speaker 1: I don't. 308 00:20:19,160 --> 00:20:22,079 Speaker 3: But like everything with the President, we're here, he's going 309 00:20:22,160 --> 00:20:23,720 to start ociating up here. He's going to go to 310 00:20:23,799 --> 00:20:25,960 the kind of the most extreme, try to find some 311 00:20:26,000 --> 00:20:26,880 sort of middle ground. 312 00:20:27,640 --> 00:20:29,359 Speaker 1: I think that was well said. He goes to the 313 00:20:29,400 --> 00:20:33,279 most extreme and then people all are in shock, and 314 00:20:33,319 --> 00:20:37,119 then they find a way to meet some agreement. So 315 00:20:37,279 --> 00:20:40,319 kind of speaking about tariffs, so everybody was kind of 316 00:20:40,960 --> 00:20:43,920 biting their nails this morning because the Supreme Court at 317 00:20:43,960 --> 00:20:46,839 ten o'clock in the morning is when they finally released 318 00:20:46,880 --> 00:20:49,279 whatever they're going to rule on, and everybody was thinking 319 00:20:49,279 --> 00:20:52,000 they're going to do the tariffs ruling today, aren't they 320 00:20:52,000 --> 00:20:57,319 And Nope, they did not. That's going to be important. 321 00:20:57,359 --> 00:20:59,400 Like I said, I think they are going to give 322 00:20:59,440 --> 00:21:03,400 the president the power to go ahead with reciprocal tariffs, 323 00:21:03,440 --> 00:21:08,480 but I don't know about using tariffs for non financial reasons. 324 00:21:10,119 --> 00:21:14,319 Jonathan Turley was kind of weighing in on the fact 325 00:21:14,359 --> 00:21:18,519 that if the president, if the White House loses and 326 00:21:18,599 --> 00:21:20,759 the Supreme Court says that he doesn't have the power 327 00:21:20,759 --> 00:21:25,119 to do tariffs, they've got a lot of plan bs 328 00:21:25,880 --> 00:21:26,480 ready to go. 329 00:21:26,880 --> 00:21:30,119 Speaker 10: Well, you know if it's been against the administration, because 330 00:21:30,319 --> 00:21:36,119 this act called IEPA is essentially silent on this particular power. 331 00:21:36,359 --> 00:21:38,319 But I think people were really taking it back during 332 00:21:38,319 --> 00:21:41,440 the oral argument when the Solicitor General's Office, I thought, 333 00:21:41,519 --> 00:21:45,079 did an extraordinary job and they pointed out to this 334 00:21:45,200 --> 00:21:49,400 court that the predecessor of DIEPA had these very same words. 335 00:21:49,799 --> 00:21:52,640 Speaker 1: Yeah, the IEPA he's talking about, that's the acronym for 336 00:21:52,680 --> 00:21:57,039 the Emergency Act that the President's been issuing the tariffs 337 00:21:57,079 --> 00:22:00,559 based on that there's been a national emergency and when 338 00:22:00,599 --> 00:22:03,559 the case went before. When the Supreme Court heard the case, 339 00:22:04,000 --> 00:22:06,039 there were a lot of the justices that were going, 340 00:22:06,400 --> 00:22:10,920 I don't know about this emergency. So again, it did 341 00:22:10,960 --> 00:22:14,319 not happen today. So I'm reporting to you on something 342 00:22:14,359 --> 00:22:17,680 that did not happen. It will be soon, we hope. 343 00:22:17,920 --> 00:22:20,519 I'm sure the president's hoping. So we want to talk 344 00:22:20,519 --> 00:22:27,000 a little bit about Virginia because there has been a 345 00:22:27,119 --> 00:22:30,920 change in the management in the great State of Virginia. 346 00:22:31,559 --> 00:22:37,680 Glenn Youngkin left office on Saturday, and the new Governor 347 00:22:38,200 --> 00:22:43,359 of Virginia, Abigail Spanberger. She took the oath of office 348 00:22:43,400 --> 00:22:49,519 on Saturday and immediately sat down very trumpy. She issued 349 00:22:49,640 --> 00:22:57,200 ten new executive orders, and like a good Democrat, she 350 00:22:57,440 --> 00:23:02,000 increased taxes on a whole list of things. So for 351 00:23:02,119 --> 00:23:04,960 those of you in Virginia, congratulations, you're going to be 352 00:23:04,960 --> 00:23:09,640 paying more. And I thought they were griping about affordability. 353 00:23:10,000 --> 00:23:14,839 So she raises taxes on all kinds of things. She 354 00:23:14,960 --> 00:23:19,519 also is pushing a new congressional map to try and 355 00:23:19,559 --> 00:23:22,079 make it so that redistricting if you will get more 356 00:23:22,119 --> 00:23:27,400 Democrats to be elected from Virginia. If She also said 357 00:23:27,440 --> 00:23:32,519 that abortion will be decided by the voters she's been 358 00:23:32,680 --> 00:23:37,720 telling while she ran for Virginia governor and won. She 359 00:23:39,720 --> 00:23:42,519 told the people of Virginia that the Democrats were running 360 00:23:42,519 --> 00:23:45,759 the wrong kind of campaign, that they needed to shift 361 00:23:45,920 --> 00:23:50,599 to the middle. But instead she raises taxes. She wrote 362 00:23:50,640 --> 00:23:55,559 one of the executive orders was she was ending cooperation 363 00:23:55,799 --> 00:24:00,000 with Ice, and then that she says is the first 364 00:24:00,680 --> 00:24:06,480 step toward a sanctuary state. So that's yeah, she thinks 365 00:24:06,519 --> 00:24:09,599 that is somehow running in the middle. But I guess 366 00:24:10,000 --> 00:24:12,839 from where she stands. I guess. So Virginia is a 367 00:24:13,240 --> 00:24:17,079 blue state. It's a light blue state, and they haven't 368 00:24:17,640 --> 00:24:20,759 done well. They had poor growth and poor business tax 369 00:24:21,559 --> 00:24:26,119 and regulatory rules until Glenn Youngkin came along, and he 370 00:24:26,160 --> 00:24:31,240 was a business guy, and he turned it around in 371 00:24:31,279 --> 00:24:34,160 his wanted minute. It's a one term deal in Virginia. 372 00:24:34,680 --> 00:24:37,799 He turned the state around for the first time in 373 00:24:37,920 --> 00:24:41,519 ten years. More people moved to Virginia last year than 374 00:24:41,599 --> 00:24:45,599 moved away to the other forty nine stints. And he 375 00:24:45,640 --> 00:24:51,480 said common sense works. So the rank number one as 376 00:24:51,519 --> 00:24:57,839 the list of top states for business. On education, Youngkin 377 00:24:58,079 --> 00:25:04,960 ended COVID era mandates, decreased chronic absenteeism, ended critical race theory, 378 00:25:05,039 --> 00:25:10,880 in schools. He won his election on giving more power 379 00:25:11,000 --> 00:25:16,559 to the parents on the school children. So now the 380 00:25:16,640 --> 00:25:19,880 question is what's Glenn Youngkin going to do? Because he 381 00:25:20,000 --> 00:25:24,400 left office on Saturday and he had an amazingly good 382 00:25:24,440 --> 00:25:28,839 four years, so already people are buzzing about is he 383 00:25:29,359 --> 00:25:33,160 possibly one of the candidates to run for president in 384 00:25:33,200 --> 00:25:38,039 two thousand and twenty eight. So we'll find out together, 385 00:25:38,119 --> 00:25:41,599 But right now he hasn't said. I think he could 386 00:25:41,720 --> 00:25:48,440 win a lot of moderate Democrat voters, so and he's 387 00:25:48,480 --> 00:25:51,359 not a far far righty so he would pick up 388 00:25:51,400 --> 00:25:53,359 a lot of the Republicans and a lot of the 389 00:25:54,079 --> 00:25:56,160 a number of Democrats, which is what you have to 390 00:25:56,160 --> 00:26:00,279 do if you're going to win a statewide national race 391 00:26:00,440 --> 00:26:03,440 like president. Since we're speaking of states, we can't leave 392 00:26:03,480 --> 00:26:11,000 out Minnesota. No, it's nothing changed, not really, but this 393 00:26:11,160 --> 00:26:15,440 was rather surprising. Keith Ellison, he was the attorney general 394 00:26:15,480 --> 00:26:21,519 in Minnesota. He's a lawyer, he was a congressman from Minnesota, 395 00:26:22,200 --> 00:26:25,079 and he's been the attorney general for quite some time. 396 00:26:25,839 --> 00:26:30,640 He should know the law. There's something called the Face Act, 397 00:26:30,960 --> 00:26:34,519 which basically said was back in the nineties that it 398 00:26:34,599 --> 00:26:38,200 was a law that basically said you cannot obstruct abortion 399 00:26:38,400 --> 00:26:41,440 clinics for ladies that want to go in and get 400 00:26:41,440 --> 00:26:43,720 an abortion. You can't do that. It's against the law. 401 00:26:44,039 --> 00:26:49,599 And you also can't obstruct people in the house of worship. 402 00:26:51,440 --> 00:26:56,079 So the Face Act is pretty simple, but Keith Ellison 403 00:26:57,400 --> 00:26:59,480 did not seem to know anything about it. 404 00:26:59,559 --> 00:27:03,640 Speaker 11: Stretching either of these laws to apply to Peapman's reproductive 405 00:27:03,680 --> 00:27:08,079 health centers right, So how they are stretching either of 406 00:27:08,079 --> 00:27:11,319 these laws to apply to people who protested in a 407 00:27:11,400 --> 00:27:14,200 church over the behavior or the proceived behavior of a 408 00:27:15,119 --> 00:27:16,799 religious leader is beyond me. 409 00:27:17,359 --> 00:27:19,160 Speaker 1: He kind of showed that he didn't know what he 410 00:27:19,200 --> 00:27:21,880 was talking about. Yeah, it does. It takes care of 411 00:27:21,920 --> 00:27:26,920 abortion clinics and churches carry or Bond even thought that 412 00:27:27,000 --> 00:27:29,480 combination was kind of weird. But she explains the law. 413 00:27:29,880 --> 00:27:32,039 Speaker 9: Yeah, look, if you can read, you can fact check him. 414 00:27:32,079 --> 00:27:34,079 I know that it's not true, and that's I was 415 00:27:34,240 --> 00:27:37,079 really disturbed by the fact that he would what I 416 00:27:37,119 --> 00:27:39,599 feel like, is lie about the law. He's the attorney 417 00:27:39,599 --> 00:27:42,720 general for the state of Minnesota. He is supposed to 418 00:27:42,720 --> 00:27:46,400 be neutrally applying and implementing the law. Instead, he went 419 00:27:46,400 --> 00:27:49,200 on Don Lemon, who in my opinion, also acted disgracefully 420 00:27:49,480 --> 00:27:52,240 and goes on his show and then lies about the law. 421 00:27:52,359 --> 00:27:53,960 There are people who are listening to that who are 422 00:27:53,960 --> 00:27:55,920 going to take his word for it because he's the age. 423 00:27:56,359 --> 00:27:57,960 But yet, as you just put up on the screen, 424 00:27:57,960 --> 00:27:59,480 and if anyone wants to google it, they can look 425 00:27:59,480 --> 00:28:02,720 for themselves, it's just not true. It protects access to 426 00:28:03,319 --> 00:28:06,440 abortion clinics and churches. Does that sound like a strange 427 00:28:06,440 --> 00:28:09,000 marriage of sorts. Yes, it is, and that's because when 428 00:28:09,039 --> 00:28:11,559 the law is passed in the nineties, that was the 429 00:28:11,599 --> 00:28:16,440 compromise with Republicans. Democrats wanted protection for abortion clinics, and 430 00:28:16,480 --> 00:28:18,799 Republicans said, okay, fine, but we're going to throw in 431 00:28:18,880 --> 00:28:21,599 churches too. So that's how this came to be. And 432 00:28:21,880 --> 00:28:25,759 it certainly protects against the kind of behavior that we 433 00:28:25,839 --> 00:28:29,200 saw happen on Sunday. But look, you don't even need 434 00:28:29,240 --> 00:28:31,880 the Face Act. There are other federal statutes as well 435 00:28:31,920 --> 00:28:34,480 that really, in my opinion, very much applied to what 436 00:28:34,480 --> 00:28:35,599 we saw unfold there. 437 00:28:35,680 --> 00:28:38,480 Speaker 1: Well, that was weird that he did not know the 438 00:28:38,559 --> 00:28:41,599 Face Act. He knew about the abortion clinic part, not 439 00:28:41,720 --> 00:28:44,839 about the churches. So we'll leave it with that. What 440 00:28:44,920 --> 00:28:48,119 else do we have. Oh the football game last night. 441 00:28:48,160 --> 00:28:52,400 Congratulations again to the Hoosiers Indiana Hoosiers, they won the 442 00:28:52,480 --> 00:28:56,920 national championship in the college football playoffs. They've been rolling 443 00:28:57,240 --> 00:29:01,839 over everybody, I mean, embarrassing some really good teams. Indiana 444 00:29:01,880 --> 00:29:06,200 has been phenomenal. But they ran against the University of 445 00:29:06,279 --> 00:29:10,720 Miami last night, and man, Miami. They they were never 446 00:29:10,799 --> 00:29:13,160 in the lead, but they were always close on the 447 00:29:13,200 --> 00:29:17,400 heels of Indiana. Indiana won the game twenty seven to 448 00:29:17,440 --> 00:29:20,799 twenty one. But I thought it was interesting because Carson Beck, 449 00:29:22,039 --> 00:29:26,519 the quarterbacks for both teams, were both extremely talented young men. 450 00:29:26,799 --> 00:29:28,759 One of them Carson Becks, he was the talent. He 451 00:29:28,880 --> 00:29:34,279 was the quarterback for Miami, and they interviewed him before 452 00:29:34,359 --> 00:29:39,960 the game about well you listened to it. I was 453 00:29:40,000 --> 00:29:45,599 surprised he hasn't. He graduated from that college two years ago. 454 00:29:45,720 --> 00:29:50,200 Speaker 2: Listen, Carson, I'm curious, did you have class yesterdays? 455 00:29:50,480 --> 00:29:53,440 Speaker 9: What has it been like being you as a student 456 00:29:53,559 --> 00:29:55,160 this week, particularly yesterday? 457 00:29:55,960 --> 00:29:56,039 Speaker 1: No? 458 00:29:56,160 --> 00:30:01,720 Speaker 6: Class I graduated two years ago, so I've been working 459 00:30:01,720 --> 00:30:03,960 towards other degrees now that I've gotten to Miami. But 460 00:30:04,160 --> 00:30:06,240 these programs take a little longer than just a year 461 00:30:06,279 --> 00:30:10,599 to finish, so obviously I'm not enrolling again next semester. 462 00:30:11,000 --> 00:30:14,559 Speaker 1: Yeah, he graduated two years ago. So college sports. This 463 00:30:14,680 --> 00:30:18,000 is sad because it used to be college kids. This 464 00:30:18,079 --> 00:30:23,559 guy graduated two years ago. He makes between three and 465 00:30:23,640 --> 00:30:27,440 four million dollars a year under the new rules about 466 00:30:27,480 --> 00:30:30,880 paying college athletes. I'm going to the guy's a pro. 467 00:30:31,200 --> 00:30:38,279 He's a paid athlete. Anyway, he's a great quarterback. The 468 00:30:39,000 --> 00:30:42,279 Miami's a great team. Indiana was better and they won 469 00:30:42,400 --> 00:30:47,400 twenty seven twenty one. It just makes you go. I mean, 470 00:30:47,400 --> 00:30:49,440 everybody was surprised me. He said, no, no, I agres he 471 00:30:49,480 --> 00:30:51,680 said the quiet part out loud. He said, yeah, yeah, 472 00:30:51,680 --> 00:30:54,279 I graduated two years ago. She was asked him about 473 00:30:54,640 --> 00:30:56,839 how do you go to school and take classes and 474 00:30:56,839 --> 00:31:02,720 prepare for a game like this Wall Street today back 475 00:31:02,759 --> 00:31:07,359 at work, and like I said, the President shocked everybody 476 00:31:08,039 --> 00:31:14,000 with his threats against Greenland and about using military and 477 00:31:14,039 --> 00:31:18,880 about primarily tariffs. The thing about the tariffs is, yes, 478 00:31:18,920 --> 00:31:22,519 they don't like the amounts, the ten percent now twenty 479 00:31:22,559 --> 00:31:27,559 five percent in June. First, it's the on again, off again. 480 00:31:28,000 --> 00:31:31,480 Now we've got tariffs, now we don't. It makes for it. 481 00:31:31,880 --> 00:31:36,400 It's very difficult for businesses to plan on what their 482 00:31:36,440 --> 00:31:38,880 budget should be. If you don't know what your costs 483 00:31:38,880 --> 00:31:42,039 are going to be, how can you possibly run a 484 00:31:42,160 --> 00:31:47,319 business's financial aspect with any sort of assurance. That's the 485 00:31:47,359 --> 00:31:51,319 part this bugging people is that. And when Trump was 486 00:31:51,759 --> 00:31:54,599 a real estate guy, I didn't bother anybody else. But 487 00:31:54,680 --> 00:31:58,160 he's the president and people have to make plans. And 488 00:31:58,200 --> 00:32:02,880 if he's got tariffs on products that come and go, 489 00:32:04,839 --> 00:32:08,119 it drives the market nuts. But this is very much 490 00:32:08,960 --> 00:32:12,920 Liberation Day A two point zero. After Liberation Day, the 491 00:32:12,960 --> 00:32:16,400 stock market tanked and then it came back and went 492 00:32:16,519 --> 00:32:22,759 on to new record highs. So today it tanked. The 493 00:32:23,000 --> 00:32:28,759 Dow Jones Industrials down eight hundred and seventy to forty 494 00:32:28,799 --> 00:32:32,920 eight thousand and four eighty eight, the SMP down better 495 00:32:32,960 --> 00:32:35,759 than two percent, down one hundred and forty three points, 496 00:32:36,119 --> 00:32:39,960 the Nasdaq down better than two percent, five hundred and 497 00:32:40,079 --> 00:32:44,640 sixty one points. Lower the price of gold. That's what 498 00:32:44,799 --> 00:32:49,279 the problem is. Mortgage prices went up, interest rates went up, 499 00:32:49,359 --> 00:32:52,920 and people are getting out of the dollar and going 500 00:32:53,000 --> 00:32:56,640 to gold. And gold went up one hundred and seventy 501 00:32:56,720 --> 00:33:00,799 three dollars to day to four thousand and seven sixty 502 00:33:00,880 --> 00:33:04,400 nine and oil up a little more than a dollar. 503 00:33:04,720 --> 00:33:06,279 It's got a six in front of it for the 504 00:33:06,319 --> 00:33:10,599 first time in a long time. Six dollars and yeah, 505 00:33:10,680 --> 00:33:14,039 sixty dollars, sixty dollars and fifty cents for one barrel 506 00:33:14,039 --> 00:33:16,400 of oil. So that's it for today. Thank you for 507 00:33:16,440 --> 00:33:19,599 coming by. Hope you have a wonderful rest of your day. 508 00:33:19,680 --> 00:33:21,960 We'll be back again tomorrow. I hope to see you 509 00:33:22,039 --> 00:33:25,079 that