1 00:00:04,879 --> 00:00:07,160 Speaker 1: What's going on. Thank you so much for listening to 2 00:00:07,200 --> 00:00:09,640 this podcast. It is heard live every day from noon 3 00:00:09,679 --> 00:00:12,480 to three on WBT Radio in Charlotte. And if you 4 00:00:12,560 --> 00:00:16,719 want exclusive content like invitations to events, the weekly live stream, 5 00:00:16,760 --> 00:00:19,239 my daily show prep with all the links, become a patron, 6 00:00:19,320 --> 00:00:22,640 go to dpeakclendershow dot com. Make sure you hit the 7 00:00:22,640 --> 00:00:25,160 subscribe button. Get every episode for free right to your 8 00:00:25,160 --> 00:00:27,679 smartphone or tablet, And again, thank you so much for 9 00:00:27,760 --> 00:00:31,480 your support. The news broke less than thirty minutes ago 10 00:00:31,519 --> 00:00:34,799 that Donald Trump is now giving a ninety day pause 11 00:00:34,880 --> 00:00:40,840 to all of the tariffs except China, and all the 12 00:00:40,840 --> 00:00:43,759 tariffs are going to ten percent a baseline ten percent. 13 00:00:45,200 --> 00:00:50,719 The market has responded quite positively, shooting up now it's 14 00:00:50,799 --> 00:00:54,039 up twenty or yeah, twenty six hundred points. It looks 15 00:00:54,119 --> 00:01:02,960 like over forty thousand right now. And I find myself, 16 00:01:03,560 --> 00:01:06,239 you know, reading, you know, I've got some messages here 17 00:01:06,319 --> 00:01:09,680 about it, and I'm seeing some of the the hot 18 00:01:09,719 --> 00:01:15,079 takes that are being promulgated on the social media. And 19 00:01:17,359 --> 00:01:20,560 it is as I said at the very beginning of 20 00:01:20,599 --> 00:01:22,920 all of this, was that I'm going to wait and 21 00:01:22,959 --> 00:01:26,560 see number one, but also number two. If you have 22 00:01:26,719 --> 00:01:32,400 faith and trust in Donald Trump, then you're going to 23 00:01:33,000 --> 00:01:35,640 you're going to believe whatever it is that he's saying 24 00:01:35,799 --> 00:01:38,040 is the strategy or why we need to do whatever 25 00:01:38,040 --> 00:01:41,799 the thing he's doing. I mean not in all cases. 26 00:01:42,079 --> 00:01:44,599 I'm just saying on this, but there is a tend 27 00:01:44,640 --> 00:01:48,560 to believe, a tendency to believe him because you like him. 28 00:01:48,879 --> 00:01:52,239 And I get that. I understand that. I'm not putting 29 00:01:52,280 --> 00:01:55,879 people down for that. There are people that hate him, 30 00:01:56,400 --> 00:01:58,959 and it doesn't matter what he says, they will say 31 00:01:59,000 --> 00:02:01,560 he's lying about everything. Right. I'm not in either of 32 00:02:01,560 --> 00:02:05,959 those camps. Okay, I'm not in either of those camps. 33 00:02:06,000 --> 00:02:07,799 As much as people want me to be in one 34 00:02:07,840 --> 00:02:13,120 of those camps. I have a bit of oppositional defiance 35 00:02:13,879 --> 00:02:18,159 disorder going on here. I don't. I've had it for 36 00:02:18,199 --> 00:02:22,240 a very long time. Anti authoritarian, anti authority streaking me. 37 00:02:23,840 --> 00:02:25,960 I don't do well with people bosso me around like that, 38 00:02:26,120 --> 00:02:27,960 ordering me around and telling me I have to think 39 00:02:28,000 --> 00:02:32,680 this way whatever. I bristle at that, and that's just me. 40 00:02:34,280 --> 00:02:38,360 So I'm skeptical of these things that I hear, and 41 00:02:38,400 --> 00:02:40,719 I wonder, you know, why are they doing that? What's 42 00:02:40,759 --> 00:02:42,919 the rationale for it. How does this look as it 43 00:02:42,960 --> 00:02:48,039 plays out? You know? And so now that Trump has 44 00:02:48,159 --> 00:02:52,759 reversed course after and this has been this has been 45 00:02:52,759 --> 00:02:56,919 a common pattern we have seen right where Trump will 46 00:02:56,960 --> 00:03:00,800 say something or do something, everybody rushes to fill the zone, 47 00:03:00,919 --> 00:03:04,439 defend the action or speech, and then of course the 48 00:03:04,479 --> 00:03:08,800 other side rushes in to fill their zone, telling us 49 00:03:08,800 --> 00:03:11,599 how it's the worst ever and how he's a racist 50 00:03:11,719 --> 00:03:16,439 or whatever. And then you wait a little while and 51 00:03:16,520 --> 00:03:21,199 it turns out, oh no, like the left was wrong. 52 00:03:22,240 --> 00:03:25,240 But also then Trump reverses himself, and now his defenders 53 00:03:25,360 --> 00:03:28,919 are having to fall back to a different position and 54 00:03:29,000 --> 00:03:32,240 pretending oftentimes that that was the point the whole time, 55 00:03:32,599 --> 00:03:37,560 when they don't know that. They just trust Trump. And 56 00:03:37,599 --> 00:03:40,960 so if Trump takes this in a certain direction, advances 57 00:03:40,960 --> 00:03:45,000 a policy, they rush to defend it. Trump falls back, 58 00:03:45,599 --> 00:03:48,520 They rush to defend that too. They fall back with 59 00:03:48,639 --> 00:03:54,800 him because they believe him. Again, not insulting anybody, I'm 60 00:03:54,879 --> 00:03:58,599 not attacking people. I'm just saying that it's hard for 61 00:03:58,639 --> 00:04:05,080 me to witness this pattern and just go along with it. 62 00:04:05,080 --> 00:04:06,960 It's just not in my DNA, So I don't go 63 00:04:07,039 --> 00:04:10,080 along with that pattern. So I'm curious to know what changed. 64 00:04:10,599 --> 00:04:13,800 If Eric Erickson is correct, as I mentioned last hour, 65 00:04:14,400 --> 00:04:17,800 that people in Trump world told him last night that 66 00:04:19,079 --> 00:04:22,680 Trump had been he had spoken with a bunch of 67 00:04:22,680 --> 00:04:28,800 his big donors from the business world, and they were 68 00:04:28,959 --> 00:04:31,519 urging him to find some sort of an off ramp, 69 00:04:31,600 --> 00:04:33,519 and that it would likely look like something like, oh, 70 00:04:33,519 --> 00:04:35,759 we don't have time to negotiate all of these deals 71 00:04:35,759 --> 00:04:39,519 because there's so many countries that want to negotiate the deals, 72 00:04:40,160 --> 00:04:43,319 and that's why they're going to have to put a 73 00:04:43,360 --> 00:04:46,240 pause on it. And that is precisely what Trump just did. 74 00:04:47,600 --> 00:04:52,160 So I find that to be that's pretty persuasive evidence 75 00:04:52,600 --> 00:04:56,000 that that, in fact was the rationale for this. There's 76 00:04:56,040 --> 00:05:01,279 another reason, Colonel retired Colonel Kurt Schlickter from town Hall 77 00:05:01,360 --> 00:05:05,399 dot Com, a lawyer, he said, I think the tariff 78 00:05:05,480 --> 00:05:09,279 pause except for China was a very smart idea for 79 00:05:09,360 --> 00:05:14,319 a reason that the talk show host down in California, 80 00:05:14,399 --> 00:05:17,319 Hugh Hewitt, has also seen coming. I'm not sure I 81 00:05:17,399 --> 00:05:21,600 agree with the legal reasoning, but there is a substantial 82 00:05:21,680 --> 00:05:25,279 chance that the courts would have stopped the broad tariffs 83 00:05:25,519 --> 00:05:28,240 using the same reasoning that led to the overruling of 84 00:05:28,279 --> 00:05:32,759 the Chevron doctrine for various reasons. I don't think the 85 00:05:32,839 --> 00:05:39,040 courts will overrule focused tariffs on China alone. So Trump 86 00:05:39,079 --> 00:05:41,959 got ahead of it, got dozens of countries to the table, 87 00:05:43,120 --> 00:05:48,240 and essentially rendered moot a potential precedent that would have 88 00:05:48,279 --> 00:05:52,920 stripped him of tariff power. Also, nobody minds that the 89 00:05:52,959 --> 00:05:56,600 markets are recovering, because that was one of the other 90 00:05:56,720 --> 00:06:00,519 arguments that was that, like Senator Ran Paul was making, 91 00:06:01,600 --> 00:06:04,160 there were a couple of Republicans that were now including 92 00:06:04,199 --> 00:06:07,879 Tom Tillis from North Carolina, that were talking about clawing 93 00:06:07,959 --> 00:06:11,040 back this power away from the executive branch and putting 94 00:06:11,040 --> 00:06:14,319 it back into the hands of Congress alone. Because tariffs 95 00:06:14,360 --> 00:06:17,399 are taxes, they argue that has to originate in the House. 96 00:06:19,199 --> 00:06:23,720 And if the and I mentioned the Chevron doctrine, and coincidentally, 97 00:06:24,120 --> 00:06:28,040 I've got a piece here by Jim Rickards audio that 98 00:06:28,079 --> 00:06:30,040 I just played at the end of the last hour, 99 00:06:30,959 --> 00:06:36,920 and he has a piece over at Yahoo Finance where 100 00:06:36,920 --> 00:06:41,360 he talks about the Chevron doctrine and the ruling or 101 00:06:41,399 --> 00:06:45,639 the rationale at the core of that ruling has the 102 00:06:45,759 --> 00:06:55,319 potential to position America as a powerhouse when it comes 103 00:06:55,360 --> 00:07:02,399 to various types of industries. But because of these bureaucracies, 104 00:07:02,480 --> 00:07:05,000 these agencies that have been writing all of these rules 105 00:07:05,040 --> 00:07:09,240 and regulations for decades, they have crippled us as a country. 106 00:07:09,480 --> 00:07:12,480 And now with the Chevron doctrine overturned by the Supreme Court, 107 00:07:13,720 --> 00:07:17,000 now if Trump does it correctly right, you could unleash 108 00:07:17,040 --> 00:07:20,800 this potential. But I think this is an interesting argument 109 00:07:20,800 --> 00:07:22,600 as well that hasn't been the focus of a lot 110 00:07:22,600 --> 00:07:26,800 of this debate, which is whether or not the courts 111 00:07:26,839 --> 00:07:31,680 would look favorably upon such a sweeping tariff regime. And 112 00:07:31,720 --> 00:07:34,600 so what Schlickter is saying is that by now stripping 113 00:07:34,639 --> 00:07:37,240 it all down, putting a baseline ten percent, in leaving 114 00:07:37,279 --> 00:07:40,639 that alone, and then going after China alone, which is 115 00:07:40,759 --> 00:07:46,360 really the worst offender here, then it makes it more 116 00:07:46,399 --> 00:07:49,360 difficult for that argument to win in court. Even though 117 00:07:49,399 --> 00:07:53,360 Schlichter says he doesn't think that that would win in court, 118 00:07:53,879 --> 00:07:58,079 but he recognizes that there's enough of a doubt. I 119 00:07:58,079 --> 00:08:02,720 should say that that that coupled with you know, the 120 00:08:02,800 --> 00:08:07,240 market issue, coupled with the business leaders coming to Trump, like, 121 00:08:07,399 --> 00:08:09,560 all of these factors all played a part in it, 122 00:08:10,439 --> 00:08:15,720 Besson said today after they announced this pause, Besson said 123 00:08:15,920 --> 00:08:18,879 this was driven by the president's strategy. This was his 124 00:08:18,959 --> 00:08:23,920 strategy all along. You might even say he goaded China 125 00:08:24,279 --> 00:08:27,439 into a bad position. They have shown themselves to the 126 00:08:27,480 --> 00:08:30,120 world to be the bad actors, and we are willing 127 00:08:30,120 --> 00:08:33,519 to cooperate with our allies and with our trading partners 128 00:08:33,679 --> 00:08:39,559 who did not retaliate. So here again, do you believe 129 00:08:39,799 --> 00:08:44,440 bessont do you believe that this was the strategy the 130 00:08:44,480 --> 00:08:51,320 whole time or not? And I feel like people who 131 00:08:52,440 --> 00:08:56,120 you know, just by default believe Donald Trump, they will 132 00:08:56,159 --> 00:08:58,799 believe this, and people who don't believe Donald Trump will 133 00:08:58,879 --> 00:09:02,480 not point out one piece of evidence like that we 134 00:09:02,559 --> 00:09:06,039 hit Mexico and Canada with some additional tariffs beyond the 135 00:09:06,080 --> 00:09:10,919 ten percent or whatever, so like I don't and they retaliated, 136 00:09:12,399 --> 00:09:14,879 So I don't know if that was the standard, but look, 137 00:09:15,200 --> 00:09:18,559 focusing the fire on China, I think that is the 138 00:09:18,679 --> 00:09:23,960 right move, absolutely all right. If you're listening to this show, 139 00:09:24,000 --> 00:09:25,559 you know I try to keep up with all sorts 140 00:09:25,559 --> 00:09:27,600 of current events, and I know you do too, And 141 00:09:27,679 --> 00:09:32,480 you've probably heard me say get your news from multiple sources. Why, Well, 142 00:09:32,480 --> 00:09:35,200 because it's how you detect media bias, which is why 143 00:09:35,240 --> 00:09:38,440 I've been so impressed with ground News. It's an app, 144 00:09:38,639 --> 00:09:41,879 and it's a website, and it combines news from around 145 00:09:41,879 --> 00:09:44,320 the world in one place so you can compare coverage 146 00:09:44,519 --> 00:09:47,240 and verify information. You could check it out at check 147 00:09:47,480 --> 00:09:51,720 dot ground, dot news slash Pete. I put the link 148 00:09:51,759 --> 00:09:54,840 in the podcast description too. I started using ground News 149 00:09:54,879 --> 00:09:57,600 a few months ago and more recently chose to work 150 00:09:57,639 --> 00:09:59,600 with them as an affiliate because it lets me see 151 00:09:59,639 --> 00:10:03,519 clearly how stories get covered and by whom. The blind 152 00:10:03,559 --> 00:10:06,360 spot feature shows you which stories get ignored by the 153 00:10:06,440 --> 00:10:10,120 left and the right. See for yourself. Check dot ground, 154 00:10:10,360 --> 00:10:14,000 dot news slash Pete. Subscribe through that link and you'll 155 00:10:14,000 --> 00:10:17,200 get fifteen percent off any subscription. I use the Vantage 156 00:10:17,240 --> 00:10:20,679 plan to get unlimited access to every feature. Your subscription 157 00:10:20,799 --> 00:10:23,519 then not only helps my podcast, but it also supports 158 00:10:23,519 --> 00:10:26,799 ground News as they make the media landscape more transparent. 159 00:10:28,080 --> 00:10:32,159 Jeff says Pete. The egg prices are coming down, the 160 00:10:32,200 --> 00:10:35,320 stock market is coming back. Now, what do the Democrats 161 00:10:35,320 --> 00:10:38,360 have to complain about? That's a fair point. It's a 162 00:10:38,360 --> 00:10:45,000 tough spot. Tough spot. Dwayne Patterson, who is the producer 163 00:10:45,039 --> 00:10:48,320 of The Hugh Hewitt Show and host of Dwayne's World, 164 00:10:48,440 --> 00:10:52,600 The podcast. Oh. He also follows me on Twitter. Nice okay, 165 00:10:52,879 --> 00:10:56,519 He says, people who hate Trump, who will never get 166 00:10:56,559 --> 00:11:01,639 Trump naturally don't understand. Today Trump forces the rest of 167 00:11:01,639 --> 00:11:06,759 the free world to basically choose China or US. Seventy 168 00:11:06,799 --> 00:11:11,000 five plus countries are choosing US. They are now agreeing 169 00:11:11,039 --> 00:11:17,759 to renegotiate trade. Inevitably, we'll be better off in every 170 00:11:17,799 --> 00:11:21,120 one of these deals, some marginally, but some a lot. 171 00:11:21,519 --> 00:11:24,080 The only reason these negotiations are now in line to 172 00:11:24,120 --> 00:11:27,440 happen are because of the tariffs. Now that they've committed 173 00:11:27,720 --> 00:11:32,320 to deal and we're down to haggling over the price, 174 00:11:32,720 --> 00:11:36,759 the tariffs can be suspended in good faith. Second, by 175 00:11:36,799 --> 00:11:40,919 seventy five plus nations basically choosing US over China, the 176 00:11:41,000 --> 00:11:45,879 commis are now more isolated, I said, the commies. Trump 177 00:11:46,039 --> 00:11:49,720 is now going to squeeze them hard. Markets know China 178 00:11:49,799 --> 00:11:53,240 decoupling has to happen. They've known it for a while. 179 00:11:53,519 --> 00:11:58,360 The transition is well underway. This accelerates it. As for 180 00:11:58,440 --> 00:12:01,919 that baseline ten percent tariff, consider that a global or 181 00:12:02,000 --> 00:12:05,840 consider that a global insurance premium. When disaster happens, the 182 00:12:05,879 --> 00:12:08,759 world comes to the US for help. Ten percent for 183 00:12:08,799 --> 00:12:13,559 the big guy you might say, I see, I see 184 00:12:13,600 --> 00:12:16,159 what he did there. If China truly is the are 185 00:12:16,200 --> 00:12:18,840 the ones who play the long game, they'll have to 186 00:12:18,919 --> 00:12:22,080 cave soon in order to be a player. Later their 187 00:12:22,120 --> 00:12:26,159 economy will not be able to tolerate tariffs ratcheting up higher. 188 00:12:26,519 --> 00:12:29,879 This whole tariff thing was always a move to deal 189 00:12:29,960 --> 00:12:34,000 with China before having to deal with China later anyway, 190 00:12:34,360 --> 00:12:37,200 but with a worse hand, to. 191 00:12:37,200 --> 00:12:41,720 Speaker 2: Play Chinatown where they don't speak even English in that Chinatown. 192 00:12:41,759 --> 00:12:45,080 Speaker 1: It's true, he told us. Then Kim says, if they 193 00:12:45,120 --> 00:12:47,200 are treating us unfairly, he needs to stick with it 194 00:12:47,279 --> 00:12:49,519 unless behind the scenes they've told him they swear they're 195 00:12:49,559 --> 00:12:51,600 going to make it better. I believe him when he 196 00:12:51,639 --> 00:12:54,159 says they've come to ask him to please make a deal. 197 00:12:54,519 --> 00:12:57,279 That's the reason for the pause. So that's what I mean. 198 00:12:58,200 --> 00:13:02,320 If you believe in don Trump, you will believe that 199 00:13:02,360 --> 00:13:05,279 this was the strategy the whole time. And that's fine 200 00:13:05,320 --> 00:13:07,679 because I don't know it wasn't. I'm not saying it wasn't. 201 00:13:07,759 --> 00:13:10,039 I don't know if it was or was not, So 202 00:13:10,120 --> 00:13:11,879 you were free to believe whatever you want to believe 203 00:13:11,879 --> 00:13:16,320 on this. But my only request through low these many 204 00:13:16,440 --> 00:13:20,080 years of radio hosting, is do not whiz on my 205 00:13:20,279 --> 00:13:24,200 boots and tell me it's raining. That's all right, And 206 00:13:24,240 --> 00:13:26,320 I'm not saying that's happening right now. I'm just that 207 00:13:26,320 --> 00:13:30,240 that's my sort of my standard, right. I don't appreciate 208 00:13:30,279 --> 00:13:34,919 people telling me lies and then when I can see 209 00:13:34,960 --> 00:13:38,039 that the thing is not actually true. And again, I 210 00:13:38,159 --> 00:13:40,399 don't know that any of this is not actually true. 211 00:13:40,480 --> 00:13:41,799 It very well could be. This could have been the 212 00:13:42,240 --> 00:13:46,399 play the whole way, and they kept it all under 213 00:13:46,399 --> 00:13:49,720 wraps in order to have this moment. That's possible. That 214 00:13:49,840 --> 00:13:56,279 is possible, But nobody knows that. Nobody on Twitter, right, 215 00:13:56,320 --> 00:13:59,559 nobody in the audience, nobody in the studio except maybe 216 00:13:59,679 --> 00:14:04,639 is but that's it. Nobody knew, Pete. I feel this 217 00:14:04,679 --> 00:14:06,559 is from Trent, who says, Pete, I feel like most 218 00:14:06,559 --> 00:14:09,120 of this was to show that the Emperor has no 219 00:14:09,200 --> 00:14:12,840 clothes China. Maybe the other tariffs were to bring others 220 00:14:12,840 --> 00:14:15,440 to the table, but China was always the goal. But 221 00:14:15,480 --> 00:14:18,799 then again, I'm no Trump whisperer, see, And that's perfectly 222 00:14:18,840 --> 00:14:22,879 fair the way Trent. Trent frames that, that is perfectly fair. 223 00:14:23,639 --> 00:14:26,519 That's not peeing on my boots like He's just saying, 224 00:14:27,080 --> 00:14:28,759 this is what I think might be the case, but 225 00:14:28,919 --> 00:14:31,799 I don't know. And that's the thing I guess that 226 00:14:32,399 --> 00:14:38,879 kind of irks me is people who express certainty about 227 00:14:38,879 --> 00:14:42,639 the motivations of others, about a strategy that they had 228 00:14:42,720 --> 00:14:46,039 no insight into, but are only looking at it in 229 00:14:46,080 --> 00:14:48,519 real time as we are, and people can make, you know, 230 00:14:49,600 --> 00:14:52,799 predictions about what could come. They could offer up theories 231 00:14:52,840 --> 00:14:57,120 about what happened, fair enough, it's the certainty of the thing. 232 00:14:57,759 --> 00:15:00,879 It's all over media too, you know. It's it's just 233 00:15:02,120 --> 00:15:05,519 I don't know. I just I look at these things 234 00:15:05,559 --> 00:15:08,159 in a little bit less certain way. I guess in 235 00:15:08,200 --> 00:15:14,080 my old age. I'm I'm not old, but anyway, Timoteo says, 236 00:15:14,159 --> 00:15:17,120 I like mister wonderful Kevin O'Leary. I played his SoundBite earlier, 237 00:15:17,279 --> 00:15:19,200 but when it comes to China, he has a huge 238 00:15:19,320 --> 00:15:22,480 axe to grind that maybe is that may be affecting 239 00:15:22,480 --> 00:15:25,360 his views on tariffs on China. Here is the thought 240 00:15:25,360 --> 00:15:27,879 I had last night. As you pointed out, early in 241 00:15:27,919 --> 00:15:31,799 the tariff situation, wars have started like shooting. Wars have 242 00:15:31,879 --> 00:15:35,360 started with tariffs. Back during the first year of the 243 00:15:35,360 --> 00:15:37,879 Biden administration, there was an article that came out making 244 00:15:37,919 --> 00:15:40,080 the case that we would be at war with China 245 00:15:40,120 --> 00:15:42,519 within ten years. So the last thing Trump would want 246 00:15:42,559 --> 00:15:45,519 to do is push China towards that end. Placing massive 247 00:15:45,559 --> 00:15:48,960 tariffs on China might lead to that war, unless tariffs 248 00:15:48,960 --> 00:15:52,799 are placed on the entire world, So China isn't singled out. 249 00:15:53,679 --> 00:15:56,679 Now there is a dust up between Trump and Jijinping, who, 250 00:15:56,679 --> 00:15:59,200 by the way, looks like Winnie the Pooh. Anyway, tariffs 251 00:15:59,279 --> 00:16:02,759 can continue to be elevated against China and it will 252 00:16:02,799 --> 00:16:06,519 be seen as a conflict of egos between Trump and 253 00:16:06,799 --> 00:16:10,399 Winnie the Pooh rather than a prelude to war, even 254 00:16:10,399 --> 00:16:13,440 while lowering tariffs on the rest of the world. I 255 00:16:13,480 --> 00:16:15,919 would like to think that this was the strategy, or 256 00:16:15,960 --> 00:16:17,720 it could be that Trump just bid off more than 257 00:16:17,759 --> 00:16:25,720 he could chew. Yeah, I don't know the Hellia says. 258 00:16:25,759 --> 00:16:31,399 I think Trump could have hedged on both sides. That's possible. 259 00:16:34,279 --> 00:16:36,960 Thomas says. The mainstream media will not report it, but 260 00:16:37,080 --> 00:16:42,320 China is in economic, military, and political turmoil. See I 261 00:16:42,360 --> 00:16:44,960 know this, Thomas, because I have reported on this. Just 262 00:16:45,039 --> 00:16:46,639 last week. I was talking about this very thing, and 263 00:16:46,679 --> 00:16:49,240 you are correct. They are in no place to wage 264 00:16:49,240 --> 00:16:51,799 to trade war with us in this country. Keep the 265 00:16:51,840 --> 00:16:54,600 politicians out of this initiative. They are the source of 266 00:16:54,600 --> 00:16:56,679 the problem. The government only knows how to waste our 267 00:16:56,679 --> 00:16:59,679 money and knows nothing about negotiating anything. Well, they do 268 00:16:59,759 --> 00:17:02,360 know how to break things, Thomas. That's what Russia always 269 00:17:02,360 --> 00:17:07,279 told us, right, that's what the that's what the military does, right, 270 00:17:07,400 --> 00:17:09,680 kill people and break things. They're pretty good at it. 271 00:17:10,000 --> 00:17:14,799 So we should make China's main concern, sorry, we should 272 00:17:14,839 --> 00:17:18,720 make China's main concern and focus how to feed one 273 00:17:18,799 --> 00:17:22,599 point five billion Chinese three square meals a day. This 274 00:17:22,640 --> 00:17:26,160 would change their focus and slow their expansionism and or 275 00:17:26,400 --> 00:17:30,880 maybe even change regimes. That was what Remember there was 276 00:17:30,920 --> 00:17:33,680 a story from George W. Bush. He talked about meeting 277 00:17:33,720 --> 00:17:35,920 with the president I forget what his name was at 278 00:17:35,920 --> 00:17:40,079 the time of China, and they were talking about like 279 00:17:40,079 --> 00:17:42,000 what keeps you up at night, like the big things 280 00:17:42,000 --> 00:17:44,480 that are you know, that are weighing on your mind 281 00:17:44,480 --> 00:17:47,400 as this, you know, leader of this large nation. And 282 00:17:47,400 --> 00:17:51,759 he said, you know, finding like a million jobs a 283 00:17:51,759 --> 00:17:54,680 month for my people, Like that's the big thing, because 284 00:17:54,680 --> 00:17:58,000 if people aren't working, they're not eating, you know, all right, 285 00:17:58,039 --> 00:18:01,319 So Spring is here a time of renew and celebrations. 286 00:18:01,519 --> 00:18:05,119 You got graduations, weddings, anniversaries and the special days for 287 00:18:05,240 --> 00:18:07,559 mom and dad. Your family's making memories that are going 288 00:18:07,599 --> 00:18:10,000 to last a lifetime. But let me ask you are 289 00:18:10,119 --> 00:18:13,279 all of those treasured moments from days gone by? Are 290 00:18:13,279 --> 00:18:16,599 they hidden away on old VCR tapes, eight millimeter films, 291 00:18:16,759 --> 00:18:21,119 photos slides? Are they preserved? Because over time, these precious 292 00:18:21,119 --> 00:18:25,279 memories can fade and deteriorate, losing the magic of yesterday. 293 00:18:25,480 --> 00:18:28,640 At Creative Video, they help you protect what matters most. 294 00:18:28,799 --> 00:18:32,720 Their expert team digitizes your cherished family moments and transfers 295 00:18:32,759 --> 00:18:35,599 them onto a USB drive, freezing them in time so 296 00:18:35,640 --> 00:18:38,640 they can be enjoyed for generations to come. I urge 297 00:18:38,680 --> 00:18:41,799 you do not wait until it's too late this spring, 298 00:18:42,039 --> 00:18:45,400 celebrate your past. Visit Creative Video today and let them 299 00:18:45,440 --> 00:18:48,799 preserve your legacy with the love and care that it deserves. 300 00:18:49,079 --> 00:18:53,440 Creative Video Preserving Family Memories since nineteen ninety seven, located 301 00:18:53,440 --> 00:18:56,119 in mint Hill, just off four eighty five. Mail orders 302 00:18:56,119 --> 00:18:59,039 are accepted to get all the details that create a 303 00:18:59,240 --> 00:19:02,160 video dot Org. I don't know who this guy is. 304 00:19:02,240 --> 00:19:04,440 Let me see, I'm just reading all of the reactions here. 305 00:19:04,519 --> 00:19:10,559 This is oh, okay, the co founder of yimby Democrats. 306 00:19:11,240 --> 00:19:13,839 Yimbi means yes in my backyard. So this is, I 307 00:19:13,839 --> 00:19:17,400 guess like a pro growth democrat. So basically a unicorn 308 00:19:18,000 --> 00:19:22,920 and the same as armand Doma Luski. And he says, 309 00:19:22,960 --> 00:19:26,240 call me crazy, but I think the markets are underreacting 310 00:19:26,920 --> 00:19:30,480 to what is effectively an immediate cessation of trade between 311 00:19:30,519 --> 00:19:36,240 the two largest economies on the planet. Yeah, I could 312 00:19:36,240 --> 00:19:40,839 see that. I mean, it's uh, it's really Look, it's 313 00:19:40,880 --> 00:19:43,680 not about the trade war, the tariffs or anything like that. 314 00:19:43,720 --> 00:19:46,359 It's about the friends we made along the way. Okay. 315 00:19:48,839 --> 00:19:52,000 Jim Rickards I mentioned him earlier, played a couple of 316 00:19:52,039 --> 00:19:55,119 his soundbites from an appearance he had on the podcast 317 00:19:55,200 --> 00:19:58,519 called Triggernometry. But he had a piece over at Yahoo 318 00:19:58,559 --> 00:20:02,519 Finance the other day and that I happened upon while 319 00:20:02,519 --> 00:20:09,720 I was doing research about this guy. And he says, 320 00:20:09,720 --> 00:20:15,039 have we been lied to? America was never broke? He says, 321 00:20:15,079 --> 00:20:17,559 the American public has long been told that the nation 322 00:20:17,720 --> 00:20:21,960 is bankrupt, But according to former US intelligence advisor and 323 00:20:22,880 --> 00:20:27,240 economic strategist Jim Rickards, the truth is far more complicated 324 00:20:28,160 --> 00:20:33,160 and far more hopeful. He says, America is anything but broke, 325 00:20:33,480 --> 00:20:36,000 and if you understand what's bound to happen next, you 326 00:20:36,039 --> 00:20:39,519 could watch your own net worth soar in the years ahead. 327 00:20:40,839 --> 00:20:43,079 As an aside, let me point out, I am not 328 00:20:43,160 --> 00:20:46,400 a financial advisor. This is not financial advice. I'm just 329 00:20:46,759 --> 00:20:52,000 reading a story out of Yahoo Finance. Okay. Ricords, who 330 00:20:52,039 --> 00:20:55,519 has advised the CIA, the Pentagon, and the US Treasury, 331 00:20:56,039 --> 00:20:58,839 claims that the government has been sitting on an immense 332 00:20:59,400 --> 00:21:04,640 under utilized national asset for over a century, one that 333 00:21:04,680 --> 00:21:07,880 could now be tapped for the first time in generations. 334 00:21:09,920 --> 00:21:13,960 It is due to the recent dismantling of the Chevron Doctrine, 335 00:21:14,440 --> 00:21:19,000 a legal precedent that empowered federal agencies to override courts 336 00:21:19,440 --> 00:21:24,119 and enact sweeping regulations. With its reversal by the Supreme Court, 337 00:21:24,680 --> 00:21:29,079 control is shifting away from bureaucrats and back towards constitutional 338 00:21:29,200 --> 00:21:34,920 and state level authority. Rickard says, quote Trump's Supreme Court 339 00:21:35,039 --> 00:21:39,279 overturned the Chevron Doctrine, and it essentially gave so called 340 00:21:39,319 --> 00:21:46,279 government experts kill shot power that the Chevron Doctrine did. Now, 341 00:21:46,960 --> 00:21:49,640 for the first time in half a century, we can 342 00:21:49,720 --> 00:21:55,480 go get our resources Rickard says the legal reversal could 343 00:21:55,519 --> 00:21:59,160 signal the beginning of a massive realignment, one that restores 344 00:21:59,319 --> 00:22:06,599 access two vast federal resources previously locked behind environmental red tape. 345 00:22:06,839 --> 00:22:15,400 Estimated value one hundred and fifty trillion dollars, Not cash, 346 00:22:15,799 --> 00:22:20,119 not gold, but something far more essential in our twenty 347 00:22:20,119 --> 00:22:27,480 first century, strategic minerals and materials used in infrastructure, defense, 348 00:22:27,960 --> 00:22:33,400 and energy. According to Rickards, this is more than an 349 00:22:33,440 --> 00:22:37,799 economic shift, it's a political and cultural realignment. He says 350 00:22:37,799 --> 00:22:41,359 we are entering a new era now with the regulatory 351 00:22:41,440 --> 00:22:45,519 chokehold broken and political momentum building. He believes the nation 352 00:22:45,720 --> 00:22:49,599 is poised to reclaim control over its own wealth, its 353 00:22:49,640 --> 00:22:56,160 own future, and its destiny. He also talked about how 354 00:22:56,160 --> 00:22:58,119 he believes we are in a recession. I played those 355 00:22:58,160 --> 00:23:01,960 clips at the end of the last hour. But he 356 00:23:02,039 --> 00:23:05,400 is also a fan of the tariffs and the thing 357 00:23:05,400 --> 00:23:07,559 I talked about in the first hour, which was the 358 00:23:07,759 --> 00:23:13,319 balanced trade economic model, which is a competing philosophy to 359 00:23:13,720 --> 00:23:17,839 quote unquote free trade. Here is what he said regarding 360 00:23:17,880 --> 00:23:18,759 the tariffs. 361 00:23:19,519 --> 00:23:23,039 Speaker 2: Trump's putting all these tarists on its the best economic 362 00:23:23,079 --> 00:23:27,119 policy you can think of. It's extremely good for the US. 363 00:23:27,160 --> 00:23:29,519 I get in this debate all the time. I'll expand 364 00:23:29,559 --> 00:23:30,799 on that a little bit. But when I have this 365 00:23:30,880 --> 00:23:33,519 debate and I explain to people that my tarifts are good, 366 00:23:33,559 --> 00:23:37,000 they say putting the AUS States to go, well, yeah, Jim, yeah, 367 00:23:37,039 --> 00:23:39,039 but this is really going to be bad for Vietnam 368 00:23:39,160 --> 00:23:42,599 and China and Malaysia. And I say, yeah, that's their problem. 369 00:23:43,119 --> 00:23:46,720 You know that our job is to make America great again. 370 00:23:46,839 --> 00:23:49,759 Tell Presidency to make China great again if he wants to, 371 00:23:49,839 --> 00:23:53,160 let him figure out policies that actually work other than overborrowing, 372 00:23:53,200 --> 00:23:55,720 real estate boom and corruption and skimming and a lot else. 373 00:23:56,160 --> 00:23:58,599 So our job is to take care of America. And 374 00:23:58,920 --> 00:24:02,319 you know, Kirstarmer can make the UK great again. 375 00:24:02,880 --> 00:24:05,839 Speaker 1: That's all. That A slightly questionable statement. 376 00:24:05,880 --> 00:24:09,400 Speaker 2: Yeah, but that's all. That's all fair. So looking at 377 00:24:09,400 --> 00:24:13,240 from the American perspective, what we're seeing is a return 378 00:24:13,279 --> 00:24:16,279 to something called the American system. It was invented by 379 00:24:16,279 --> 00:24:19,319 Alexander Hamilton of seventeen ninety. You know, his problem was, 380 00:24:19,640 --> 00:24:24,519 first Turasury secretary, we had revolutionary ward debt and state 381 00:24:24,559 --> 00:24:26,920 debt that had kind of hung over from for the 382 00:24:26,960 --> 00:24:30,279 creation of the United States, and one of the first 383 00:24:30,319 --> 00:24:32,359 issues facing Congress is what do we do about all 384 00:24:32,400 --> 00:24:35,119 this debt? And so the Congress said, well, that's easy, 385 00:24:35,160 --> 00:24:38,440 will just default as the American way. And Hamilton said, no, 386 00:24:38,880 --> 00:24:41,480 We'll borrow more, use that money to pay off the 387 00:24:41,480 --> 00:24:43,799 old debt, and then we'll just keep borrowing and just 388 00:24:43,920 --> 00:24:45,720 roll over the debt. And that was the creation of 389 00:24:45,720 --> 00:24:48,279 the government securities market. It's been going strong for two 390 00:24:48,400 --> 00:24:50,440 hundred and thirty years and called a ponzi, but you 391 00:24:50,440 --> 00:24:51,799 know it works. 392 00:24:53,000 --> 00:24:57,720 Speaker 1: So he likes the idea of all the tariffs. He's 393 00:24:57,759 --> 00:25:00,319 on board with this. The wrap on the terror is 394 00:25:00,319 --> 00:25:02,519 it's a sales tax on American people, right, That's what 395 00:25:02,559 --> 00:25:06,000 I've always been told. He disagrees. Here's a great idea. 396 00:25:06,119 --> 00:25:08,880 How about making an escape to a really special and 397 00:25:08,920 --> 00:25:12,119 secluded getaway in western North Carolina. 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Call or text eight 415 00:26:09,839 --> 00:26:13,319 two eight, three six seven seventy sixty eight or check 416 00:26:13,319 --> 00:26:15,839 out all there is to offer at Cabins Ofashville dot 417 00:26:15,880 --> 00:26:19,640 com and make memories that'll last a lifetime. Going over 418 00:26:19,720 --> 00:26:25,279 some of these comments from Jim Rickards from the Triggernometry podcast, 419 00:26:25,519 --> 00:26:26,920 you talked about a whole bunch of stuff. It was 420 00:26:26,920 --> 00:26:31,680 an hour long discussion, but on the tariff issue specifically, 421 00:26:33,119 --> 00:26:34,640 one of the things that we have heard and I 422 00:26:34,759 --> 00:26:38,160 have said and I believe was that is that tariffs 423 00:26:38,160 --> 00:26:42,359 are paid by the consumers, the end user. It's a 424 00:26:42,400 --> 00:26:45,839 sales tax on the American people. Record says that is 425 00:26:45,960 --> 00:26:48,319 not true. 426 00:26:48,640 --> 00:26:52,160 Speaker 2: In a TOWERFF transaction, you have three parties, could be more, 427 00:26:52,200 --> 00:26:55,240 but at least three. You have the producer exporter in 428 00:26:55,759 --> 00:26:59,079 China or Vietnam, et cetera. You have the importer who's 429 00:26:59,119 --> 00:27:02,839 a wholesaler distributor, and then you have the consumer. So 430 00:27:03,519 --> 00:27:05,440 we are going to put twenty percent tariffs on things. 431 00:27:05,480 --> 00:27:07,599 That is going to raise the price, at least initially. 432 00:27:08,119 --> 00:27:11,079 Who actually pays the tariff? What's the importer? The person 433 00:27:11,119 --> 00:27:12,759 who takes the goods off the ship at the poor 434 00:27:12,880 --> 00:27:14,680 Los Angeles has got to write a check to the 435 00:27:14,720 --> 00:27:17,240 treasury for twenty percent of the value of those goods. 436 00:27:17,400 --> 00:27:21,720 But who pays it? Economically, it is split between the 437 00:27:21,759 --> 00:27:24,759 producer and the importer, or it's completely pushed back the 438 00:27:24,799 --> 00:27:27,960 supply back down the supply chain to the producer. So 439 00:27:28,039 --> 00:27:30,960 the importer says, hey, I just paid twenty percent more. 440 00:27:31,000 --> 00:27:33,400 You need to lower your price twenty percent so that 441 00:27:33,519 --> 00:27:35,960 when you or whatever the numbers say that when you 442 00:27:36,039 --> 00:27:37,920 throw on the tarer if it comes out about the 443 00:27:37,960 --> 00:27:42,319 same or the importer will eat it and inform of 444 00:27:42,319 --> 00:27:47,720 reduced margins or profits. The original exporter or the producer 445 00:27:47,759 --> 00:27:50,799 will eat it in terms of reduce profits or margins. 446 00:27:51,119 --> 00:27:53,319 The one party that does not eat the tariff is 447 00:27:53,319 --> 00:27:55,319 the consumer. There is no price increase. 448 00:27:56,440 --> 00:27:59,880 Speaker 1: There is no price increase, he says, And then he 449 00:28:00,119 --> 00:28:01,920 gave an analogy here. 450 00:28:03,359 --> 00:28:06,759 Speaker 2: If Walmart or Costco or Target or Best Buy could 451 00:28:06,839 --> 00:28:09,200 raise prices twenty percent, why wouldn't they just do it? 452 00:28:09,720 --> 00:28:11,160 I mean, why do you need tiers to do that. 453 00:28:11,279 --> 00:28:13,599 Of course you wouldn't raise prices. The reason they can't 454 00:28:13,759 --> 00:28:16,920 is because the consumer can't pay it. The consumers tapped out. 455 00:28:17,759 --> 00:28:20,960 You know, credit card lines are used up, Mortgage rates 456 00:28:20,960 --> 00:28:24,359 have been high, hiring is dried up. There are a 457 00:28:24,359 --> 00:28:28,119 lot of you know, inflation generally, we're still you know 458 00:28:28,119 --> 00:28:30,279 the thing about the Biden inflation. They say, well, inflation 459 00:28:30,400 --> 00:28:32,960 went down from it was nine point one percent in 460 00:28:33,039 --> 00:28:36,319 June twenty twenty two, it's about three percent today. You know, 461 00:28:36,359 --> 00:28:38,200 give or take cans bounce around a little bit. They say, 462 00:28:38,240 --> 00:28:40,920 well inflation has come down, yeah, but the nine percent 463 00:28:40,960 --> 00:28:43,400 never went away. That nine percent increase is still there. 464 00:28:43,720 --> 00:28:47,119 The three percent increase is still there. Prices are still 465 00:28:47,160 --> 00:28:50,759 going up. But when you know the financial television talking 466 00:28:50,799 --> 00:28:52,920 hits that you know inflation is coming down and people 467 00:28:52,960 --> 00:28:56,279 think prices are coming down, prices aren't coming down. If 468 00:28:56,480 --> 00:28:58,559 inflation is going up at a slower level, but it's 469 00:28:58,559 --> 00:29:01,440 still going up. And we're building on top of the 470 00:29:01,519 --> 00:29:04,079 nine percent that we had in twenty twenty two, which 471 00:29:04,119 --> 00:29:08,400 is the highest since the early nineteen eighties. So given 472 00:29:08,440 --> 00:29:10,960 all those price increases which are now embedded, and the 473 00:29:11,000 --> 00:29:15,039 other headwinds I described, people can't afford to pay higher prices, 474 00:29:15,079 --> 00:29:16,400 like I say. If they could, they would have been 475 00:29:16,440 --> 00:29:20,799 charged that already. So in other words, the tariff does 476 00:29:20,839 --> 00:29:23,720 not fall on the consumer. It falls on the producer 477 00:29:23,880 --> 00:29:26,480 or the importer, where it's split between them in some fashion. 478 00:29:26,960 --> 00:29:29,440 So the idea of this inflationary is not true, and 479 00:29:29,480 --> 00:29:32,039 the idea that it is a sales tax on consumer 480 00:29:32,279 --> 00:29:35,279 is not true. It does it could affect margins further 481 00:29:35,359 --> 00:29:37,839 up the supply chain, but not at the consumer level. 482 00:29:38,279 --> 00:29:41,880 Speaker 1: So this is an argument and a position I have 483 00:29:42,039 --> 00:29:45,920 never heard articulated. I'm not saying I believe this to 484 00:29:46,039 --> 00:29:48,079 be true, but this is the other side of it. 485 00:29:48,119 --> 00:29:51,440 This is the approach and the thinking of the balanced 486 00:29:51,599 --> 00:29:57,400 trade advocates. He then predicts that the tariff regime, which 487 00:29:57,440 --> 00:30:01,279 Donald Trump has now paused, will create high paying jobs 488 00:30:01,759 --> 00:30:02,440 in America. 489 00:30:04,119 --> 00:30:06,000 Speaker 2: You can sell whatever you want to the American people, 490 00:30:06,160 --> 00:30:08,960 no problem, but build it here. Put your plant in 491 00:30:09,039 --> 00:30:11,920 the United States because you got it instead of paying 492 00:30:11,920 --> 00:30:13,799 the tires. If you're the producer, going back to what 493 00:30:13,880 --> 00:30:16,000 I just said, the producer bears it. Well, if you 494 00:30:16,000 --> 00:30:18,160 don't want to bear, jump over the tarafall. Put your 495 00:30:18,200 --> 00:30:21,680 plant in the United States. Taiwan semi Conductor is spending 496 00:30:23,480 --> 00:30:28,279 upwards of one hundred billion dollars building new fabusand fabrication 497 00:30:28,359 --> 00:30:31,960 plants for semi conductors in the United States. Apple just 498 00:30:32,000 --> 00:30:35,640 announced five hundred billion dollars of investment in the United States. 499 00:30:35,720 --> 00:30:39,400 Now the US company, but they've been investing mainly in 500 00:30:39,480 --> 00:30:45,960 China and Malaysia and elsewhere around the world. So Honda 501 00:30:46,000 --> 00:30:49,480 announced that builling a major car manufacturing plant in the 502 00:30:49,559 --> 00:30:51,799 United States. I love my friends, you know, in the 503 00:30:52,400 --> 00:30:55,400 upscale zip codes they're driving Mercedes. I got a nice 504 00:30:55,440 --> 00:30:57,799 German Cars. Said no, it's not it's made in South Carolina. 505 00:30:58,359 --> 00:31:01,880 I stick to alleys because they actually are made in Germany. 506 00:31:02,440 --> 00:31:05,200 They said, more and more of these cars are build 507 00:31:05,200 --> 00:31:09,279 the Uni States. What we're seeing is stage two. This 508 00:31:09,319 --> 00:31:12,799 is Letheiser two point zero. Robert Littheiser was the deput 509 00:31:12,880 --> 00:31:16,400 US trade representative to Ronald Reagan. He did this in 510 00:31:16,519 --> 00:31:19,480 the Japanese car industry in the early eighties. He saved 511 00:31:19,720 --> 00:31:22,440 the US car industry, and the Japanese finally said, Okay, 512 00:31:22,480 --> 00:31:26,319 we hear you. Because huge tariffs on them, do we 513 00:31:26,440 --> 00:31:28,880 hear you? Will put our plants in the United States 514 00:31:28,960 --> 00:31:29,680 in They're here. 515 00:31:30,480 --> 00:31:33,559 Speaker 1: All right. So a couple of the people, there are 516 00:31:33,559 --> 00:31:37,400 three brothers, Richmond, the Richmond brothers. Jesse Richmond wrote a 517 00:31:37,440 --> 00:31:40,440 piece or wrote a book along with his two brothers 518 00:31:41,119 --> 00:31:47,279 about the balanced trade economic model ending the unbearable costs 519 00:31:47,319 --> 00:31:50,000 of America. That's what he is, what the title was, 520 00:31:51,200 --> 00:31:53,960 and this is from This is an excerpt from Goodreads 521 00:31:54,799 --> 00:31:57,440 talking about what the book is about. How should a 522 00:31:57,480 --> 00:32:01,920 principal nation which believes in the benefits of mutually beneficial 523 00:32:02,160 --> 00:32:08,640 trade respond to the predations of mercantilist trading partners and 524 00:32:09,000 --> 00:32:13,440 imbalanced trade. Many argue that the response should be to 525 00:32:13,480 --> 00:32:16,799 do little or nothing balance. I've never been one of those. 526 00:32:16,839 --> 00:32:21,240 By the way, balanced trade argues that achieving the full 527 00:32:21,279 --> 00:32:25,640 benefits of international trade requires an effective response. Although trade 528 00:32:25,640 --> 00:32:29,720 deficits provide short term gains in consumption, these are combined 529 00:32:29,759 --> 00:32:36,480 with long term losses in consumption, innovation, investment, employment, and power. Furthermore, 530 00:32:37,000 --> 00:32:43,200 market mechanisms do not correct trade imbalances that result from mercantilism, 531 00:32:44,000 --> 00:32:46,799 nor do they compensate for the long term shift in 532 00:32:46,880 --> 00:32:53,119 production and consumption towards the mercantilist. Balancing trade can make 533 00:32:53,160 --> 00:32:57,440 important short run and long run contributions to economic stability 534 00:32:57,440 --> 00:32:59,839 and prosperity. And one of the best options, they say 535 00:32:59,839 --> 00:33:03,559 in the book is the scaled tariff. By targeting countries 536 00:33:03,960 --> 00:33:07,160 with which the US has a large current account deficit, 537 00:33:07,480 --> 00:33:13,039 the scaled tariff would efficiently, legally and effectively balanced trade. 538 00:33:13,319 --> 00:33:20,880 So that's the premise of the balanced trade argument. And 539 00:33:20,920 --> 00:33:25,920 then there's this from Rachel Beauvard. She says, I am 540 00:33:25,920 --> 00:33:32,000 a millennial. She's a writer and a conservative, and she says, 541 00:33:32,680 --> 00:33:35,759 I'm a millennial who was raised in the institutional right. 542 00:33:36,519 --> 00:33:40,839 I was waterboarded for years with free trade dogma and 543 00:33:40,960 --> 00:33:45,000 Austrian economics. But the problem is the theory didn't line 544 00:33:45,119 --> 00:33:49,400 up with the practical needs and realities. It's true, up 545 00:33:49,480 --> 00:33:53,279 to a point. Markets are still the best sorting profit 546 00:33:53,400 --> 00:33:59,559 making and intuiting institutions. Human behavior cannot be predicted or 547 00:33:59,599 --> 00:34:04,599 control by policy makers. But the Austrians always pretend like 548 00:34:04,720 --> 00:34:09,360 free trade simply exists in practice, when it never does. 549 00:34:10,199 --> 00:34:15,559 Multilateral deals are full of special interest distortions. The World 550 00:34:15,639 --> 00:34:21,119 Trade Organization did not work and diminished American sovereignty while 551 00:34:21,119 --> 00:34:25,480 other nations head padded and then ignored it. The US 552 00:34:25,519 --> 00:34:28,320 has been taken advantage of for years by not responding 553 00:34:28,320 --> 00:34:32,679 in kind to nations getting rich off our planned industrial demise. 554 00:34:33,239 --> 00:34:36,360 All of this was a policy choice. So let's use 555 00:34:36,440 --> 00:34:40,760 policy as a tool to level set back to neutral. 556 00:34:41,599 --> 00:34:45,840 If anything, She says, I'm a Rothbardian Murray rothbard In 557 00:34:45,920 --> 00:34:50,039 that the World Trade Organization was a mistake, and bilateral 558 00:34:50,119 --> 00:34:55,800 trade deals are clearly superior to the giant multilateral elite 559 00:34:56,000 --> 00:34:59,719 priority pork fests that we have now. By the way, 560 00:34:59,760 --> 00:35:01,559 this is one of the things always in this case, 561 00:35:01,559 --> 00:35:03,880 whenever you're talking about these types of tariffs and deals, 562 00:35:04,159 --> 00:35:08,880 the special interests are always swarming around, right, They're always 563 00:35:08,880 --> 00:35:12,679 in the water, and they're they're lobbying and stuff to 564 00:35:12,719 --> 00:35:15,360 try to get exemptions and carve outs and everything else. 565 00:35:16,280 --> 00:35:19,480 So I guess from like a centralization perspective, much like 566 00:35:19,480 --> 00:35:22,440 with the federal government versus state governments. If the lobbyists 567 00:35:22,480 --> 00:35:25,599 just have to go, you know, on one trade deal 568 00:35:26,880 --> 00:35:29,880 versus you know with like a world trade organization, one 569 00:35:29,920 --> 00:35:32,920 big deal versus have to go and lobby every single 570 00:35:33,039 --> 00:35:36,119 industry and every single country's deal, that becomes a harder 571 00:35:36,159 --> 00:35:41,840 thing to do. We shall see, all right, that'll do 572 00:35:41,880 --> 00:35:44,440 it for this episode. Thank you so much for listening. 573 00:35:44,559 --> 00:35:46,679 I could not do the show without your support and 574 00:35:46,719 --> 00:35:49,440 the support of the businesses that advertise on the podcast, 575 00:35:49,800 --> 00:35:51,880 so if you'd like, please support them too and tell 576 00:35:51,920 --> 00:35:53,639 them you heard it here. You can also become a 577 00:35:53,679 --> 00:35:58,320 patron at my Patreon page or go to dpetecleanershow dot com. Again, 578 00:35:58,559 --> 00:36:01,119 thank you so much for listening, and don't break anything 579 00:36:01,119 --> 00:36:01,760 while I'm gone. 580 00:36:05,800 --> 00:36:09,159 Speaker 2: H m hmm.