1 00:00:04,839 --> 00:00:07,120 Speaker 1: What's going on? Thank you so much for listening to 2 00:00:07,160 --> 00:00:09,599 this podcast. It is heard live every day from noon 3 00:00:09,640 --> 00:00:12,439 to three on WBT Radio in Charlotte. And if you 4 00:00:12,519 --> 00:00:16,679 want exclusive content like invitations to events, the weekly live stream, 5 00:00:16,719 --> 00:00:18,679 my daily show prep with all of the links, become 6 00:00:18,679 --> 00:00:22,320 a patron, go to dpeakclendarshow dot com. Make sure you 7 00:00:22,399 --> 00:00:24,879 hit the subscribe button. Get every episode for free right 8 00:00:24,920 --> 00:00:27,280 to your smartphone or tablet, And again, thank you so 9 00:00:27,359 --> 00:00:30,879 much for your support. Last hour I mentioned a piece 10 00:00:30,879 --> 00:00:36,200 by Megan mccardal, not the Duchess of Sussex, Megan McCardell. 11 00:00:37,200 --> 00:00:41,159 She said Trump and his supporters have offered many justifications 12 00:00:41,200 --> 00:00:43,399 for high tariffs, which can be boiled down to four 13 00:00:43,520 --> 00:00:47,840 broad arguments. One is that these are a negotiating tool 14 00:00:47,920 --> 00:00:50,320 to be used to force other countries to lower their 15 00:00:50,320 --> 00:00:54,479 trade barriers. Another is that they will restore our manufacturing 16 00:00:54,520 --> 00:00:57,119 base and turn us into the superpower exporter we used 17 00:00:57,119 --> 00:01:00,280 to be. Third explanation is that we are trying to 18 00:01:00,359 --> 00:01:05,519 halt China's rise into a geostrategic rival. And the best argument, 19 00:01:05,599 --> 00:01:08,239 she said, is that we need to rebuild our manufacturing 20 00:01:08,280 --> 00:01:12,200 capacity for vital goods such as semiconductors just in case 21 00:01:12,239 --> 00:01:17,079 of another pandemic or a war. The tariffs, however, she says, 22 00:01:17,239 --> 00:01:21,400 suit none of these theories for starters. If you're trying 23 00:01:21,400 --> 00:01:23,719 to use tariffs to compel other countries to lower their 24 00:01:23,760 --> 00:01:27,959 trade barriers, you would impose levees in proportion to the 25 00:01:28,000 --> 00:01:31,319 tariffs that they impose on us. Yet, if you look 26 00:01:31,359 --> 00:01:33,760 at the example of Israel, which just announced that it's 27 00:01:33,840 --> 00:01:36,519 dropping all of its tariffs on US goods, they got 28 00:01:36,599 --> 00:01:40,120 hit with seventeen percent tariffs anyway, because the new duties 29 00:01:40,159 --> 00:01:44,159 were calculated based on relative trade flows, not the size 30 00:01:44,200 --> 00:01:50,239 of trade barriers. That's a key part here. Their formula 31 00:01:50,799 --> 00:01:56,959 is based on trade flows, not barriers. The trade deficit 32 00:01:57,599 --> 00:02:03,519 measures the flow, not the bear. Next up, the idea 33 00:02:03,640 --> 00:02:07,959 to eliminate trade deficits and rebalance the economy towards manufacturing. Okay, 34 00:02:08,039 --> 00:02:10,639 even if you think that's a worthwhile goal, you would 35 00:02:10,639 --> 00:02:15,000 want tariffs that achieve that globally, not with each individual country. 36 00:02:15,240 --> 00:02:17,319 For the same reason that you don't spend your entire 37 00:02:17,400 --> 00:02:22,319 salary on your employer's products, nor do you demand that 38 00:02:22,400 --> 00:02:24,960 the grocery store give you a part time job with 39 00:02:25,039 --> 00:02:28,680 a wage equal to your food bill. Right, that's not 40 00:02:28,800 --> 00:02:32,080 a one on one thing. You don't necessarily want to 41 00:02:32,080 --> 00:02:35,439 buy exactly as much from a trading partner as they 42 00:02:35,439 --> 00:02:39,800 want to buy from you. You may be specializing in 43 00:02:39,919 --> 00:02:44,560 certain products, certain services, or something, and in order to 44 00:02:44,639 --> 00:02:48,039 deliver that, you need some raw materials or something, and 45 00:02:48,120 --> 00:02:50,879 the country that has the raw materials does not want 46 00:02:50,919 --> 00:02:53,800 what you are selling as the final product for whatever reason, 47 00:02:55,080 --> 00:02:57,960 nor do they buy enough of it to offset the 48 00:02:58,000 --> 00:03:00,199 amount of raw materials that you are buying from them, 49 00:03:00,800 --> 00:03:04,240 So that trade deficit, that's the flow. That's not a barrier, 50 00:03:05,000 --> 00:03:08,000 even if that tariff is zero percent going both directions. 51 00:03:08,400 --> 00:03:11,400 If I'm buying more raw material from your country, I 52 00:03:11,479 --> 00:03:13,840 produce something with it, but your people are too poor 53 00:03:13,879 --> 00:03:16,639 to buy it from me, your country's going to have 54 00:03:16,759 --> 00:03:19,919 a surplus on me. That doesn't mean I'm cheating you 55 00:03:21,800 --> 00:03:25,639 or you're cheating me. It doesn't. The other problem with 56 00:03:25,719 --> 00:03:27,080 this theory is that a lot of what we buy 57 00:03:27,080 --> 00:03:29,840 from other countries here, she says, is inputs for our 58 00:03:29,919 --> 00:03:33,280 own manufacturing industries. It's hard to stand up a globally 59 00:03:33,280 --> 00:03:37,400 competitive manufacturing sector if you don't have the raw materials 60 00:03:37,879 --> 00:03:42,360 or the parts. All right, Next, argument was containing China. 61 00:03:42,759 --> 00:03:44,199 If you're going to try to do that, you would 62 00:03:44,240 --> 00:03:46,919 want to build up your relationships with the regional allies 63 00:03:47,039 --> 00:03:49,319 who would be at your side in case there's any 64 00:03:49,400 --> 00:03:52,360 kind of a fight, like Japan, for example, who just 65 00:03:52,400 --> 00:03:55,120 got hit with twenty four percent tariffs. Maybe you want 66 00:03:55,120 --> 00:03:58,000 to encourage the growth of export industries in countries like 67 00:03:58,080 --> 00:04:01,639 Vietnam that competes with China, they got a forty six 68 00:04:01,719 --> 00:04:07,719 percent tariff. As for the fourth argument, re shoring strategically 69 00:04:07,759 --> 00:04:12,479 vital goods, these tariffs, though exempt some of the most 70 00:04:12,520 --> 00:04:21,680 critical goods semiconductors, steel, aluminum, and pharmaceuticals. I mean, for 71 00:04:22,560 --> 00:04:26,040 now at least, maybe that changes. But if the purpose 72 00:04:26,120 --> 00:04:28,720 is to bring these things back to America so we 73 00:04:28,800 --> 00:04:33,480 can't have our supply chains disrupted in emergencies, why would 74 00:04:33,519 --> 00:04:37,399 you exempt all of these industries? This is what I mean. 75 00:04:37,439 --> 00:04:41,000 This is not reciprocal. They're calling them that. That's just branding. 76 00:04:42,639 --> 00:04:46,040 On one level, it's smart because the sudden shortage of 77 00:04:46,079 --> 00:04:49,360 any of these goods would be catastrophic for us. But 78 00:04:49,480 --> 00:04:52,079 on another level, what exactly are we trying to protect 79 00:04:52,120 --> 00:04:55,839 again the nation's strategic toaster reserve. None of these theories work, 80 00:04:55,920 --> 00:04:58,120 she says, and that's because Trump doesn't really have a 81 00:04:58,160 --> 00:05:01,360 theory of tariffs. He had as is a series of 82 00:05:01,439 --> 00:05:05,920 intuitions that exports make you strong and imports make you 83 00:05:06,000 --> 00:05:09,800 weak and dependent. Right, this is what I said. If 84 00:05:10,439 --> 00:05:13,639 Donald Trump believes that tariffs are the end in and 85 00:05:13,680 --> 00:05:16,839 of themselves and not a means to an end. But 86 00:05:17,519 --> 00:05:20,199 tariffs are fine, Tariffs are good. I want more tariffs. 87 00:05:20,399 --> 00:05:22,199 I want to be exporting more than I'm importing, so 88 00:05:22,240 --> 00:05:27,839 I'm making money. Right. If that's the view, then I don't. 89 00:05:28,040 --> 00:05:30,720 I don't. I don't have a lot of confidence in 90 00:05:30,759 --> 00:05:32,600 this approach. All right, let me go back to the 91 00:05:32,600 --> 00:05:35,480 phones here. This is Lee, Welcome to the show. Hello, Lee, 92 00:05:36,079 --> 00:05:36,839 my dear. 93 00:05:37,319 --> 00:05:40,720 Speaker 2: Y joy your show always. I missed unfortunately most of 94 00:05:40,800 --> 00:05:44,000 yours today, and I told you so. I'm not up 95 00:05:44,079 --> 00:05:49,480 to speed, but I'm seventy two years old, still working 96 00:05:50,480 --> 00:05:53,560 lifelong independent. Have loaded on both sides of the aisle. 97 00:05:53,839 --> 00:05:58,160 Just to set the ground straight. You mentioned there's a 98 00:05:58,199 --> 00:06:00,319 couple of things I want to say, and I'll be quick. 99 00:06:02,399 --> 00:06:08,040 I'm on lunch. Anyway. You mentioned about thirty years ago 100 00:06:08,360 --> 00:06:12,439 how this was a Democrat thing and how Trump was 101 00:06:12,480 --> 00:06:15,879 a Democrat and he's doing what the Democrats did. What 102 00:06:16,040 --> 00:06:19,800 I It's amazing you said that because I just watched 103 00:06:20,120 --> 00:06:26,160 an old C SPAN on television dated nineteen ninety six 104 00:06:26,439 --> 00:06:30,519 with Nancy Pelosi, and I believe Chuck Schumer was there 105 00:06:30,560 --> 00:06:34,319 as well, But she was speaking to the US China 106 00:06:34,360 --> 00:06:38,079 trade and the status quo back then in nineteen ninety six, 107 00:06:38,120 --> 00:06:41,560 which is thirty years ago, just as you mentioned, and 108 00:06:42,680 --> 00:06:45,519 there was a nineteen ninety five trade deficit of thirty 109 00:06:45,600 --> 00:06:52,079 four billion vent the tariff on Chinese goods was two percent, 110 00:06:52,839 --> 00:06:57,680 and the average for the Chinese it was thirty five 111 00:06:57,720 --> 00:07:02,720 percent on US sending to them. And Nancy Pelosi was 112 00:07:03,079 --> 00:07:07,600 saying almost every talking point that Trump is saying with 113 00:07:07,800 --> 00:07:11,079 the with the tariffs and the deficits, So that I 114 00:07:11,160 --> 00:07:14,680 found very interesting. The other thing that I wanted to 115 00:07:14,759 --> 00:07:20,600 make mention of is I'm I haven't retired yet, and 116 00:07:20,639 --> 00:07:23,519 am I scared what's happening right now? You bet I am. 117 00:07:24,240 --> 00:07:27,279 But at the same time, I'm just going to stay 118 00:07:27,319 --> 00:07:30,480 towed in. I'm not going to panic and do anything. 119 00:07:30,480 --> 00:07:32,759 There's a lot of short sales that are going on. 120 00:07:32,879 --> 00:07:36,240 With these short sales is betting against the market, so 121 00:07:36,839 --> 00:07:42,480 that's very disruptive in itself. But I'm going to hang 122 00:07:42,519 --> 00:07:46,000 in there. I remember Reagan when he came in after Carter, 123 00:07:46,160 --> 00:07:48,360 he said, we're gonna have to take some bad tasting 124 00:07:48,439 --> 00:07:52,000 medicine before we can get well again. I remember that quote, 125 00:07:52,839 --> 00:07:55,680 and I'm not going to panic. I'm just going to 126 00:07:55,839 --> 00:07:59,560 sit here and view this and hope I'm right that 127 00:07:59,639 --> 00:08:02,439 there is a terrific sale going on right now. 128 00:08:03,439 --> 00:08:04,120 Speaker 3: We bargains. 129 00:08:04,399 --> 00:08:06,839 Speaker 1: Yeah, well, I mean that's all we can do. 130 00:08:07,680 --> 00:08:10,160 Speaker 2: That's all we can do, because you know, if we're 131 00:08:10,160 --> 00:08:13,079 going to sit here and stew about everything else, I mean, 132 00:08:14,000 --> 00:08:18,199 where we're at now is unsustainable, even before the tariffs, 133 00:08:18,279 --> 00:08:24,000 it's unsustainable. And our medications are all coming from overseas. 134 00:08:24,680 --> 00:08:28,160 Everything's coming from over there, and that does make us 135 00:08:28,199 --> 00:08:32,879 weak and terribly vulnerable. And I think I fear that 136 00:08:33,120 --> 00:08:36,120 more than what this market is doing today. And I 137 00:08:36,159 --> 00:08:38,799 don't have that my age to get the time to 138 00:08:38,919 --> 00:08:41,279 wait for our market to write itself and make my 139 00:08:41,360 --> 00:08:44,120 money back. But I'm just going to keep the faith 140 00:08:44,200 --> 00:08:49,080 in there, because now this is Roosevelt. Now we have 141 00:08:49,200 --> 00:08:53,720 nothing to fear but fear itself. There's a Democrat for you. 142 00:08:53,840 --> 00:08:58,879 But I just I just want people to just hold on, 143 00:08:59,600 --> 00:09:03,519 just don't slip your wig over this, and hold on 144 00:09:03,600 --> 00:09:05,759 and see what happens. I've seen a lot of history. 145 00:09:06,080 --> 00:09:08,279 I'm sure you've seen a real good part of it too, 146 00:09:08,360 --> 00:09:11,080 and you're very well spoken on it, and you're up 147 00:09:11,080 --> 00:09:13,679 on things a lot more than me. But if we 148 00:09:13,759 --> 00:09:17,320 start caving in and flying by the seat of our pants, 149 00:09:17,639 --> 00:09:19,759 we're going to be in bigger trouble than we are now. 150 00:09:20,960 --> 00:09:22,960 Speaker 1: Lee, I appreciate the call. Thank you very much for 151 00:09:23,080 --> 00:09:26,639 showing yes, ma'am, absolutely, thank you. Have a great weekend, 152 00:09:26,960 --> 00:09:29,919 you too, all right, take care well, Yeah, And I 153 00:09:29,960 --> 00:09:32,200 think and that's that's all I've been trying to do, 154 00:09:32,320 --> 00:09:35,679 is to lay out like these are my concerns. But 155 00:09:35,879 --> 00:09:38,519 what did I say yesterday? Give it a minute. I've 156 00:09:38,519 --> 00:09:42,000 been saying this on everything Trump does. Just take a 157 00:09:42,000 --> 00:09:45,360 couple of deep breaths, and let's see what happens. We'll see, 158 00:09:46,120 --> 00:09:47,919 all right. If you're listening to this show, you know 159 00:09:48,000 --> 00:09:50,000 I try to keep up with all sorts of current events, 160 00:09:50,000 --> 00:09:52,039 and I know you do too. And you've probably heard 161 00:09:52,120 --> 00:09:56,200 me say get your news from multiple sources. Why, well, 162 00:09:56,200 --> 00:09:58,919 because it's how you detect media bias. Which is why 163 00:09:58,960 --> 00:10:02,159 I've been so impressed with ground News. It's an app, 164 00:10:02,360 --> 00:10:05,559 and it's a website, and it combines news from around 165 00:10:05,600 --> 00:10:08,039 the world in one place, so you can compare coverage 166 00:10:08,240 --> 00:10:10,960 and verify information. You can check it out at check 167 00:10:11,200 --> 00:10:15,440 dot ground, dot news slash pete. I put the link 168 00:10:15,480 --> 00:10:18,559 in the podcast description too. I started using ground News 169 00:10:18,600 --> 00:10:21,320 a few months ago and more recently chose to work 170 00:10:21,320 --> 00:10:23,399 with them as an affiliate because it lets me see 171 00:10:23,399 --> 00:10:27,240 clearly how stories get covered and by whom. The blind 172 00:10:27,279 --> 00:10:30,080 spot feature shows you which stories get ignored by the 173 00:10:30,159 --> 00:10:33,840 left and the right. See for yourself. Check dot ground, 174 00:10:34,080 --> 00:10:37,720 dot news slash pete. Subscribe through that link and you'll 175 00:10:37,720 --> 00:10:40,919 get fifteen percent off any subscription. I use the Vantage 176 00:10:40,919 --> 00:10:44,399 plan to get unlimited access to every feature. Your subscription 177 00:10:44,519 --> 00:10:47,200 then not only helps my podcast, but it also supports 178 00:10:47,240 --> 00:10:50,519 ground News as they make the media landscape more transparent. 179 00:10:51,519 --> 00:10:53,240 We'll go over here and chat with Ray. 180 00:10:53,360 --> 00:10:56,159 Speaker 4: Hello, Ray, good afternoon, Heank. 181 00:10:56,240 --> 00:10:59,799 Speaker 5: I want to tell you first, I respect your intellectual integrity. 182 00:11:00,039 --> 00:11:00,279 Speaker 2: Wow. 183 00:11:00,639 --> 00:11:02,759 Speaker 5: You look at each issue and you make your decisions 184 00:11:02,799 --> 00:11:03,559 based on it. 185 00:11:03,639 --> 00:11:04,080 Speaker 1: Thank you. 186 00:11:04,159 --> 00:11:06,600 Speaker 5: And I've been on hold while a few people have 187 00:11:06,639 --> 00:11:10,440 gotten close to my point Donald Trump was a lifelong Republican. 188 00:11:10,600 --> 00:11:13,320 He has good I mean Democrat, he has good ideas, 189 00:11:13,320 --> 00:11:17,399 he has bad ideas. He is, in fact, parroting the 190 00:11:17,480 --> 00:11:20,240 Democrat line for a long time that they didn't want 191 00:11:20,279 --> 00:11:24,080 to push. Another mid day talk radio show has been 192 00:11:24,120 --> 00:11:28,000 playing Nancy Pelosi and Chuck Schumer and Sanders and all 193 00:11:28,039 --> 00:11:30,399 these people that were calling for tariffs and talking about 194 00:11:30,440 --> 00:11:34,840 the trade deficits. So in his mind, he's still buying 195 00:11:34,919 --> 00:11:37,399 chandeliers for his casinos. 196 00:11:37,440 --> 00:11:38,879 Speaker 4: It's a direct. 197 00:11:38,559 --> 00:11:42,639 Speaker 5: Cost benefit analysis. The Democrats get to say, oh, look 198 00:11:42,679 --> 00:11:45,200 how terribly he is, Look how terrible he is, and 199 00:11:45,240 --> 00:11:48,720 it's like the rabbit saying, don't throw me in the 200 00:11:48,759 --> 00:11:52,039 brier patch it with their loving it because it's going 201 00:11:52,120 --> 00:11:54,399 to work out for them. It's either going to cut 202 00:11:54,440 --> 00:11:57,399 down on the trade deficits the flow as you very 203 00:11:57,440 --> 00:12:02,120 aptlete you talked about, and it may end up hurting 204 00:12:02,159 --> 00:12:05,080 Trump enough that it gets them out of their hair. Yeah, 205 00:12:05,120 --> 00:12:08,000 as far as and you know so for them, it's 206 00:12:08,039 --> 00:12:09,960 what they asked for for years and years and years 207 00:12:10,000 --> 00:12:12,440 because they do need to do it. It was going 208 00:12:12,480 --> 00:12:14,320 to hurt They never had the courage to do it. 209 00:12:14,720 --> 00:12:18,919 Trump's doing it, admitting it's going to hurt, and he's looking, 210 00:12:18,960 --> 00:12:22,759 as you pointed out, long term rather than oh tomorrow, 211 00:12:22,840 --> 00:12:23,799 this is going to be fixed. 212 00:12:24,120 --> 00:12:26,799 Speaker 1: So they yeah, they get to they get the policy 213 00:12:26,840 --> 00:12:29,320 they wanted, and they get to whack the guy they 214 00:12:29,399 --> 00:12:30,679 hate all at the same time. 215 00:12:31,559 --> 00:12:32,279 Speaker 6: Exactly. 216 00:12:32,480 --> 00:12:35,799 Speaker 1: Yeah, that's that's a that's a a stute point. 217 00:12:35,960 --> 00:12:36,120 Speaker 3: Ray. 218 00:12:36,159 --> 00:12:39,559 Speaker 1: I appreciate the call. Have a great weekend you too. Hright, buddy, 219 00:12:39,600 --> 00:12:45,559 say it. Let's go over to Steve. Hello, Steve, good afternoon. Hey, 220 00:12:45,799 --> 00:12:46,440 what's going on. 221 00:12:47,480 --> 00:12:50,159 Speaker 3: I was listening to the show and my truck coming 222 00:12:50,200 --> 00:12:52,480 back from a Sporting Play tournament, and I thought I 223 00:12:52,480 --> 00:12:54,960 would call in and chat with you about Tariff's for 224 00:12:54,960 --> 00:12:55,200 a bit. 225 00:12:55,279 --> 00:12:55,600 Speaker 6: Sure. 226 00:12:56,440 --> 00:12:57,840 Speaker 3: The first thing I want to do is tell you 227 00:12:57,879 --> 00:12:59,039 the Coulot stories. 228 00:12:59,080 --> 00:13:02,960 Speaker 1: You know what a coulot is, the the not shorts 229 00:13:03,000 --> 00:13:04,039 and not pants thing. 230 00:13:04,919 --> 00:13:06,799 Speaker 6: Yeah, yeah, yeah. 231 00:13:07,039 --> 00:13:08,960 Speaker 3: I had a couple of buddies that I played golf 232 00:13:09,000 --> 00:13:13,039 with down in South Florida and they had each had 233 00:13:13,120 --> 00:13:15,440 contracts for a couple of million kuosts. This is back 234 00:13:15,480 --> 00:13:19,000 in the seventies, Bush, those those. 235 00:13:18,799 --> 00:13:22,000 Speaker 1: Were very those that that was the high days of Kulot. 236 00:13:23,039 --> 00:13:29,039 Speaker 3: Yeah, exactly, a fad that did not last no. So 237 00:13:29,759 --> 00:13:34,399 these guys had their manufacturing facilities in South Carolina. UH. 238 00:13:34,600 --> 00:13:40,000 As soon as Bush recognized China in the World Trade 239 00:13:40,080 --> 00:13:44,120 Organization UH, it was far cheaper for them to manufacture 240 00:13:44,120 --> 00:13:46,799 in China, and literally within ninety days everything was. 241 00:13:46,759 --> 00:13:47,679 Speaker 2: Moved to China. 242 00:13:47,519 --> 00:13:50,480 Speaker 3: Yea, and they had about six plants in South Carolina. 243 00:13:50,519 --> 00:13:55,039 They closed and one day after golf I said, hey, guys, 244 00:13:55,279 --> 00:13:58,279 if this ever reverses, what are you going to do, 245 00:13:58,360 --> 00:14:02,919 because you're you're manufacturing over there. Their response was, it'll 246 00:14:02,960 --> 00:14:07,039 take us about six months, primarily because of the permitting 247 00:14:07,080 --> 00:14:10,679 process in South Carolina, but we'll be back within six months. 248 00:14:12,000 --> 00:14:16,679 So I don't think people realize how quick business guys 249 00:14:16,679 --> 00:14:19,600 that are capitalists can respond to these things. 250 00:14:19,679 --> 00:14:23,080 Speaker 1: If there's enough of a profit to be made in 251 00:14:24,159 --> 00:14:27,960 selling the goods. Like the downside on the tariffs is 252 00:14:27,960 --> 00:14:31,960 that the consumer pays the increased costs and if now 253 00:14:32,039 --> 00:14:36,240 you can't move as much product, then the profit margin 254 00:14:36,320 --> 00:14:38,559 might be might not be high enough for you to 255 00:14:38,600 --> 00:14:39,519 make that investment. 256 00:14:40,399 --> 00:14:43,120 Speaker 3: Well, you have to pass. It's not just the tariff 257 00:14:43,159 --> 00:14:46,919 that you're looking at, right, because if you're going to 258 00:14:47,000 --> 00:14:49,759 move back, you're going to have state of the art 259 00:14:49,840 --> 00:14:54,159 technology which means far fewer people in the plant and so, 260 00:14:54,840 --> 00:14:58,720 and the logistics costs are not trivial between Trona and 261 00:14:58,720 --> 00:15:01,840 the US, and so by the time you factor all 262 00:15:01,879 --> 00:15:05,360 that in with the tariffs being applied, it's going to 263 00:15:05,399 --> 00:15:08,679 be cheaper to do it in the US, especially when 264 00:15:08,799 --> 00:15:13,120 Tesla's got these twenty three degree freedom of robots that 265 00:15:13,399 --> 00:15:15,679 you are going to cost twenty grand and work twenty 266 00:15:15,720 --> 00:15:17,360 four hours day, seven days a week. 267 00:15:17,480 --> 00:15:19,879 Speaker 1: Well, and that's yeah, You've hit on one of the 268 00:15:19,919 --> 00:15:23,279 aspects of this conversation that is so far as I 269 00:15:23,320 --> 00:15:26,679 can tell, not really covered much at all, which is 270 00:15:26,679 --> 00:15:30,240 that a lot of the job losses in manufacturing is 271 00:15:30,320 --> 00:15:34,639 due to automation. It's due to the robotics. It's not 272 00:15:34,639 --> 00:15:37,360 not anymore at least, it's not like the textile industry 273 00:15:37,399 --> 00:15:40,919 moving overseas, or the furniture makers and stuff, a lot 274 00:15:41,000 --> 00:15:43,799 of the stuff. Now, again, we're the second largest manufacturing 275 00:15:43,840 --> 00:15:46,919 country on the planet, and most of our job losses 276 00:15:46,960 --> 00:15:48,080 come from automation. 277 00:15:49,639 --> 00:15:52,240 Speaker 3: But what you're going to see with the tariffs is 278 00:15:52,279 --> 00:15:55,200 that a large amount of manufacturing will come back to 279 00:15:55,240 --> 00:15:57,840 the US, and it's going to come back face faster 280 00:15:57,919 --> 00:16:01,879 than I'm saying most people realize I hope so, and 281 00:16:01,919 --> 00:16:03,879 the jobs that are going to be created are going 282 00:16:03,919 --> 00:16:06,120 to be high dollar jobs because they're going to be 283 00:16:06,519 --> 00:16:11,039 sophisticated manufacturing jobs, I hope. So there's a real training 284 00:16:11,080 --> 00:16:13,440 effort that's going to have to occur sort of at 285 00:16:13,480 --> 00:16:18,919 the at the States, probably junior college level. But if 286 00:16:18,960 --> 00:16:21,240 you get a good workforce train like that, they're going 287 00:16:21,320 --> 00:16:27,200 to be terrific jobs Number one. Number two. Let's take 288 00:16:27,240 --> 00:16:30,240 India for example. So one of my companies, we were 289 00:16:30,320 --> 00:16:34,879 in sixty five countries, and for example, in India, when 290 00:16:35,960 --> 00:16:39,639 we had an operating company there, we had to leave 291 00:16:40,440 --> 00:16:45,720 sixty five percent of the profit in India by regulation. 292 00:16:47,200 --> 00:16:50,480 And so not only is he going to use the 293 00:16:51,480 --> 00:16:57,279 new administration going to use tariffs as a negotiating but 294 00:16:57,320 --> 00:16:59,600 it's going to be negotiating other things other than tariffs. 295 00:16:59,639 --> 00:17:03,399 For example, if you told India all their companies in 296 00:17:03,440 --> 00:17:05,839 the US would have to leave sixty five percent of 297 00:17:05,839 --> 00:17:08,039 their capital in the US and it could not be 298 00:17:08,119 --> 00:17:12,319 repatriated and we're doing the same thing that they're doing, 299 00:17:12,519 --> 00:17:16,960 they would stop that probably and within ninety days. 300 00:17:16,759 --> 00:17:17,680 Speaker 5: To six months. 301 00:17:18,240 --> 00:17:19,960 Speaker 3: And so there are a lot of things like this 302 00:17:20,119 --> 00:17:24,440 that are barriers for US companies that are they're not teriffs, 303 00:17:24,480 --> 00:17:26,279 but they're tariff related. 304 00:17:26,000 --> 00:17:27,279 Speaker 1: Right, Yeah, they're trade barriers. 305 00:17:27,359 --> 00:17:28,960 Speaker 6: Yeah, exactly. 306 00:17:29,039 --> 00:17:31,240 Speaker 3: And so that's why you can't just look at one 307 00:17:31,319 --> 00:17:35,039 number because they're each country is. You've got to look 308 00:17:35,039 --> 00:17:38,319 at it on a standalone basis because they're all different, right, 309 00:17:38,680 --> 00:17:44,960 some tariffs, some don't, Some have repatriation limits on what 310 00:17:45,000 --> 00:17:45,799 you can bring back. 311 00:17:46,880 --> 00:17:50,079 Speaker 1: It's not simple, right, And that's why he went, that's 312 00:17:50,119 --> 00:17:54,680 why their formula that they used was looking at the 313 00:17:54,839 --> 00:17:59,039 deficit and then divided by imports, because they just they said, 314 00:17:59,039 --> 00:18:02,200 any deficit is going to capture all of that other stuff. 315 00:18:03,039 --> 00:18:05,640 Speaker 3: Well, I mean, you got to give them some slack things. 316 00:18:05,680 --> 00:18:06,720 You're just getting started. 317 00:18:06,799 --> 00:18:08,720 Speaker 1: No, I understand, but they've been working on it for 318 00:18:08,759 --> 00:18:11,559 a while. And you know, when you're slapping tariffs on 319 00:18:11,599 --> 00:18:14,640 countries that we have a surplus against, I'm kind of 320 00:18:14,680 --> 00:18:17,759 doubting the formula there. But no, all, you made very 321 00:18:17,759 --> 00:18:19,599 good points, Steve. I appreciate the call man. Have a 322 00:18:19,599 --> 00:18:22,039 great weekend. I got to run two news. Here's a 323 00:18:22,079 --> 00:18:24,960 great idea. How about making an escape to a really 324 00:18:25,000 --> 00:18:28,240 special and secluded getaway in western North Carolina? Just a 325 00:18:28,319 --> 00:18:30,920 quick drive up the mountain and Cabins of Ashville is 326 00:18:31,000 --> 00:18:34,839 your connection. Whether you're celebrating an anniversary, a honeymoon, maybe 327 00:18:34,839 --> 00:18:37,200 you want to plan a memorable proposal, or get family 328 00:18:37,240 --> 00:18:39,920 and friends together for a big old reunion. Cabins of 329 00:18:39,960 --> 00:18:42,759 Asheville has the ideal spot for you where you can 330 00:18:42,799 --> 00:18:46,000 reconnect with your loved ones and the things that truly matter. 331 00:18:46,279 --> 00:18:49,240 Nestled within the breath taking fourteen thousand acres of the 332 00:18:49,279 --> 00:18:53,119 Pisga National Forest, their cabins offer a serene escape in 333 00:18:53,160 --> 00:18:55,960 the heart of the Blue Ridge Mountains. Centrally located between 334 00:18:56,000 --> 00:18:58,880 Ashville and the entrance of the Great Smoky Mountain National Park. 335 00:18:59,039 --> 00:19:03,200 It's the perfect of seclusion and proximity to all the 336 00:19:03,240 --> 00:19:07,839 local attractions with hot tubs, fireplaces, air conditioning, smart TVs, 337 00:19:07,960 --> 00:19:11,599 Wi Fi, grills, outdoor tables and your own private covered porch. 338 00:19:11,880 --> 00:19:15,920 Choose from thirteen cabins, six cottages, two villas and a 339 00:19:15,960 --> 00:19:20,039 great lodge with eleven king sized bedrooms. Cabins of Ashville 340 00:19:20,079 --> 00:19:23,279 has the ideal spot for you for any occasion, and 341 00:19:23,480 --> 00:19:27,000 they have pet friendly accommodations. Call or text eight two eight, 342 00:19:27,160 --> 00:19:30,359 three six seven seventy sixty eight or check out all 343 00:19:30,400 --> 00:19:33,119 there is to offer at cabins Offashville dot com and 344 00:19:33,240 --> 00:19:37,599 make memories that'll last a lifetime. So Trump has now 345 00:19:37,640 --> 00:19:40,279 just announced that his administration has been working very hard 346 00:19:40,319 --> 00:19:42,759 on a deal to save TikTok, and they have made 347 00:19:42,799 --> 00:19:46,079 tremendous progress. The deal requires more work to ensure all 348 00:19:46,160 --> 00:19:48,960 necessary approvals are signed, which is why I am signing 349 00:19:48,960 --> 00:19:51,319 an executive order to keep TikTok up and running for 350 00:19:51,359 --> 00:19:54,119 an additional seventy five days. Dude, you can't do that. 351 00:19:55,279 --> 00:19:58,880 This was a law passed by Congress, signed by the President. 352 00:19:59,039 --> 00:20:01,759 They were supposed to I have divested this, they were 353 00:20:01,759 --> 00:20:04,039 supposed to have sold it. You don't get to write 354 00:20:04,079 --> 00:20:12,079 executive orders that ignore laws. Like oh my gosh. But 355 00:20:12,160 --> 00:20:18,079 apparently China's not happy with the tariffs. So yeah. Here's 356 00:20:18,119 --> 00:20:21,680 a pete tweet from Jeff who says, hopefully when these 357 00:20:21,759 --> 00:20:24,400 jobs come back to the US, the American people will 358 00:20:24,559 --> 00:20:27,240 want the jobs. I have been trying to hire people, 359 00:20:27,279 --> 00:20:29,279 but nobody wants to work. I mean, they want to 360 00:20:29,279 --> 00:20:35,200 get paid, but they don't want to work. That's a problem. Travis, 361 00:20:35,240 --> 00:20:36,880 Welcome to the program. Hello Travis. 362 00:20:37,680 --> 00:20:40,759 Speaker 6: Hey, I hear a lot of people calling in saying 363 00:20:41,160 --> 00:20:46,720 the pain is temporary. Yeah, this way, Well, the problem 364 00:20:46,759 --> 00:20:50,920 with that is in uncertainty makes the pain longer. 365 00:20:51,079 --> 00:20:51,279 Speaker 3: Right. 366 00:20:51,799 --> 00:20:54,880 Speaker 6: Let's say I'm a billionaire and I see that these 367 00:20:54,880 --> 00:20:57,279 tariffs are in place, and I go, well, right down 368 00:20:57,279 --> 00:21:00,279 the road from me, there's a closed down textile mill. 369 00:21:00,680 --> 00:21:04,119 I'll just buy that and reopen it and take a 370 00:21:04,119 --> 00:21:07,960 lot of money. So I opened it, and the next 371 00:21:08,079 --> 00:21:13,200 day Trump goes, great news, these tariffs worked. I got 372 00:21:13,200 --> 00:21:15,759 a trade deal, and all of a sudden, now I'm 373 00:21:15,799 --> 00:21:19,279 competing with whatever country Trump made this trade deal with. 374 00:21:20,119 --> 00:21:26,000 So is the goal repatriating jobs or is the goal. 375 00:21:27,240 --> 00:21:28,079 Speaker 1: Tariffs? 376 00:21:28,720 --> 00:21:28,920 Speaker 5: Yeah? 377 00:21:29,039 --> 00:21:31,960 Speaker 1: Is the tariffs. 378 00:21:33,119 --> 00:21:37,279 Speaker 6: Yeah? Yeah? Or you get a deal because don't don't 379 00:21:37,319 --> 00:21:41,000 let don't make me bring back jobs. And then you 380 00:21:41,079 --> 00:21:43,480 get a deal, and now we're right back to competing 381 00:21:43,480 --> 00:21:44,279 with the foreign country. 382 00:21:45,000 --> 00:21:47,519 Speaker 1: Right, And this is you know why I played the 383 00:21:47,559 --> 00:21:52,200 audio yesterday Scott Besson, the Treasury Secretary, you know, urging 384 00:21:52,240 --> 00:21:55,519 people to just wait, you know, give us some time, 385 00:21:55,960 --> 00:22:01,000 and like business doesn't move that slowly though. So yeah, 386 00:22:01,000 --> 00:22:03,119 I mean, if you're if you're looking at these tariffs 387 00:22:03,160 --> 00:22:05,920 and they're going into effect, you have to start making 388 00:22:05,960 --> 00:22:09,079 decisions about how to how to adjust to that. And 389 00:22:09,200 --> 00:22:11,680 that's a very fair that's a very fair concern. 390 00:22:12,720 --> 00:22:15,039 Speaker 6: Give us time to do what, Give us time to 391 00:22:15,079 --> 00:22:17,480 get a deal, give us time to bring jobs back, 392 00:22:17,559 --> 00:22:18,960 give us time to do what. 393 00:22:20,680 --> 00:22:23,240 Speaker 1: Yeah, that's a good question, Travis. I appreciate the call man. 394 00:22:23,279 --> 00:22:26,359 Have a great weekend, all right, Yeah, take care of 395 00:22:26,440 --> 00:22:28,240 Let me go over and get Jeff on too real quick. 396 00:22:28,279 --> 00:22:29,720 Hello Jeff, welcome to the show. 397 00:22:30,799 --> 00:22:32,240 Speaker 4: Hey Pete, how you doing good? 398 00:22:32,359 --> 00:22:32,799 Speaker 1: What's up? 399 00:22:33,799 --> 00:22:34,440 Speaker 6: Oh? Not much? 400 00:22:34,440 --> 00:22:36,559 Speaker 4: First time caller here, so I'm a little nervous. 401 00:22:36,599 --> 00:22:39,039 Speaker 1: So that's all right, you'll do fine. I got faith 402 00:22:39,079 --> 00:22:39,640 in you, Jeff. 403 00:22:40,799 --> 00:22:44,960 Speaker 4: Thank you. You know, I heard one another radio show 404 00:22:45,039 --> 00:22:50,079 this morning. I won't say where about, you know how suddenly, 405 00:22:50,480 --> 00:22:54,079 you know, on X there's some of these Republicans, you know, 406 00:22:54,240 --> 00:23:00,200 like Leader John Thune and Mike Johnson coming out and saying, okay, okay, 407 00:23:00,200 --> 00:23:02,599 we got to get this deal done, you know, like 408 00:23:02,960 --> 00:23:05,440 the tax cut deal and then Trump's agenda. 409 00:23:06,599 --> 00:23:07,279 Speaker 6: You know, just. 410 00:23:07,839 --> 00:23:11,079 Speaker 4: Basically I didn't put two and two together, but somebody 411 00:23:11,119 --> 00:23:14,920 else did. About to now, because of these caar IFFs, 412 00:23:14,920 --> 00:23:18,480 it seems like they are wanting to negotiate because somebody 413 00:23:19,480 --> 00:23:23,799 also said that you know, there's two sides of that. Trying 414 00:23:23,839 --> 00:23:27,440 to bring jobs back. Number one, can make it expensive 415 00:23:27,519 --> 00:23:30,359 to manufacture somewhere else, but you got to make sure 416 00:23:30,400 --> 00:23:33,759 it's economically feasible for them to manufacture it here. And 417 00:23:33,799 --> 00:23:36,759 I believe that's part of Trump's plan is to cut 418 00:23:36,799 --> 00:23:40,279 the corporate tax. And you know, these taxes are what 419 00:23:40,640 --> 00:23:46,200 drives some businesses, you know away. Yeah, so regulation and 420 00:23:46,559 --> 00:23:50,759 hopefully you know, we can basically kill two birds with 421 00:23:50,839 --> 00:23:53,920 one stone by getting those jobs back here and getting 422 00:23:53,920 --> 00:23:57,400 the corporate tax to make it, you know, cut down 423 00:23:57,440 --> 00:24:00,240 to make it more favorable for them, and and to 424 00:24:00,920 --> 00:24:05,079 you know, also just try and you know, get our 425 00:24:05,119 --> 00:24:09,559 economy back up on the on the rails because you know, 426 00:24:10,440 --> 00:24:15,480 eventually about the manufacturing our stuff elsewhere because it's cheaper, 427 00:24:15,519 --> 00:24:19,440 Eventually those chickens come home to roost, and uh, when 428 00:24:19,480 --> 00:24:24,119 we have absolutely no competitive advantage, then they could basically 429 00:24:24,160 --> 00:24:26,079 pull the rug out from under us and then hike 430 00:24:26,319 --> 00:24:30,119 the rates. And so I see what he's trying to 431 00:24:30,160 --> 00:24:32,240 do here. Now I'm not going to act like a 432 00:24:32,279 --> 00:24:34,240 profit because I could wind up looking like a fool, 433 00:24:34,480 --> 00:24:36,440 you know, saying how successful is this going to be? 434 00:24:36,759 --> 00:24:39,160 Or is he going to be flexible between you and 435 00:24:39,200 --> 00:24:40,960 me and the gate posts. I think he probably will 436 00:24:41,000 --> 00:24:43,640 be because I think that's in the best interest, but 437 00:24:43,759 --> 00:24:44,559 he can't say it. 438 00:24:45,240 --> 00:24:50,400 Speaker 1: But no, I think I think all of that is 439 00:24:50,400 --> 00:24:53,480 is fair. Like that is the unknown, and that's I've made. 440 00:24:53,839 --> 00:24:57,039 Like you, I've made no predictions about what's going to happen, 441 00:24:57,039 --> 00:25:00,200 because I have no idea. My only uh you know, 442 00:25:00,400 --> 00:25:02,720 I've laid out my concerns with how this could go 443 00:25:03,079 --> 00:25:05,960 to prepare myself and other people in case it does 444 00:25:06,000 --> 00:25:10,519 go sideways. But I hope he's right, and I hope 445 00:25:10,519 --> 00:25:14,519 he gets a deal done. If it's beneficial to America, 446 00:25:14,680 --> 00:25:15,839 that would be fantastic. 447 00:25:16,799 --> 00:25:19,119 Speaker 4: And I do think that's what the end game is. 448 00:25:20,319 --> 00:25:22,759 I don't think he's trying to say, well, I'm going 449 00:25:22,799 --> 00:25:24,759 to stick it to them because they've been sticking it 450 00:25:24,799 --> 00:25:27,599 to us. There might be a little bit of that 451 00:25:27,640 --> 00:25:30,519 in there, but I don't think that's the ultimate goal, 452 00:25:30,680 --> 00:25:33,960 you know, just to I guess the thing is, let's 453 00:25:34,039 --> 00:25:37,519 try to be as less swappy about it as possible, 454 00:25:37,599 --> 00:25:40,799 but you know, try and be you know, like calculated, 455 00:25:41,039 --> 00:25:45,359 and you know, hopefully everybody wants to come and play 456 00:25:45,359 --> 00:25:47,319 ball with us. Yeah, you know if we can create 457 00:25:47,400 --> 00:25:50,039 the you know, the right playing field. 458 00:25:50,359 --> 00:25:52,799 Speaker 1: Yeah, Jeff, I appreciate the call. You did. Great, I will. 459 00:25:53,200 --> 00:25:55,359 I wish you're happy or a good weekend. 460 00:25:55,079 --> 00:25:57,880 Speaker 4: I should say, and see y on less than two weeks. 461 00:25:57,920 --> 00:26:00,400 Speaker 1: All right, buddy, all right, see then, thanks, Jeff, appreciate 462 00:26:00,400 --> 00:26:04,359 the call. This is from Sean Pete, three time Trump voter. 463 00:26:04,440 --> 00:26:04,640 Speaker 3: Here. 464 00:26:04,680 --> 00:26:07,839 Speaker 1: While I implicitly trust the President, the latest terrifactions leave 465 00:26:07,880 --> 00:26:11,240 me with questions, assuming millions of jobs come back here, 466 00:26:11,400 --> 00:26:14,440 who will work in these factories and plants? Illegal labor 467 00:26:14,559 --> 00:26:17,119 is going away. I don't support illegal labor to begin with, 468 00:26:17,519 --> 00:26:19,319 and these new jobs won't be good enough for many 469 00:26:19,359 --> 00:26:22,160 laid off government workers. On top of that, a large 470 00:26:22,200 --> 00:26:24,799 part of our working age population simply won't take on 471 00:26:24,960 --> 00:26:28,720 such jobs, as many recent statistics show. So I'm scratching 472 00:26:28,720 --> 00:26:31,400 my head at how we'll swing this one without also 473 00:26:31,440 --> 00:26:34,759 economically cratering in the meantime. Thanks for any insight or 474 00:26:34,799 --> 00:26:40,200 even reassurance, Sean from Burnsville. Yeah, I don't know me, 475 00:26:40,640 --> 00:26:42,640 and I have no problem telling people that I do 476 00:26:42,759 --> 00:26:44,880 not know. I am making no predictions on how this 477 00:26:44,920 --> 00:26:47,680 all works out because I don't know. I cannot tell 478 00:26:47,720 --> 00:26:50,680 the future, and nobody else can. Whether they're telling you 479 00:26:50,680 --> 00:26:52,799 it's all going to work out perfect or it's all 480 00:26:52,839 --> 00:26:55,960 going to crash, nobody knows. All right, So spring is 481 00:26:56,000 --> 00:27:00,480 here a time of renewal and celebrations. You've got graduations, weddings, 482 00:27:00,519 --> 00:27:03,480 anniversaries and the special days for mom and dad. Your 483 00:27:03,519 --> 00:27:05,839 family's making memories that are going to last a lifetime. 484 00:27:05,839 --> 00:27:08,599 But let me ask you, are all of those treasured 485 00:27:08,640 --> 00:27:11,319 moments from days gone by? Are they hidden away on 486 00:27:11,359 --> 00:27:16,559 old VCR tapes, eight millimeter films, photos slides? Are they preserved? 487 00:27:16,960 --> 00:27:20,359 Because over time, these precious memories can fade and deteriorate, 488 00:27:20,680 --> 00:27:24,240 losing the magic of yesterday. At Creative Video, they help 489 00:27:24,279 --> 00:27:28,000 you protect what matters most. Their expert team digitizes your 490 00:27:28,079 --> 00:27:31,440 cherished family moments and transfers them onto a USB drive, 491 00:27:31,680 --> 00:27:33,920 freezing them in time so they can be enjoyed for 492 00:27:34,039 --> 00:27:37,400 generations to come. I urge you do not wait until 493 00:27:37,440 --> 00:27:41,279 it's too late this spring. Celebrate your past. Visit Creative 494 00:27:41,359 --> 00:27:44,200 Video today and let them preserve your legacy with the 495 00:27:44,319 --> 00:27:48,119 love and care that it deserves. Creative Video Preserving Family 496 00:27:48,200 --> 00:27:51,559 Memories since nineteen ninety seven. Located in Mint Hill just 497 00:27:51,640 --> 00:27:54,720 off four eighty five. Mail orders are accepted to get 498 00:27:54,759 --> 00:27:58,960 all the details that createavideo dot com. It's been a while, 499 00:27:58,960 --> 00:28:02,519 but we are pregaming again in Brett winterbal three till 500 00:28:02,759 --> 00:28:08,359 I think midnight. Now they've got him on WBT three 501 00:28:08,440 --> 00:28:10,440 to seven. Brett Winter will here on News Talk eleven 502 00:28:10,480 --> 00:28:14,440 ten and ninety nine three WBT, and he is colonizing 503 00:28:14,480 --> 00:28:17,640 a portion of my program as he has. That's been 504 00:28:17,680 --> 00:28:21,319 your stated goal is to colonize every single program on 505 00:28:21,440 --> 00:28:25,480 the station. I think you have you Is it mission accomplished? 506 00:28:25,519 --> 00:28:25,599 Speaker 3: Now? 507 00:28:25,680 --> 00:28:27,880 Speaker 7: No, because I don't have any access to Nori. And 508 00:28:27,920 --> 00:28:30,839 once I get that, you know that's. 509 00:28:30,680 --> 00:28:33,039 Speaker 1: Like a whole, then you then you wouldn't When would 510 00:28:33,079 --> 00:28:35,319 you sleep? I don't know, it doesn't matter, doesn't matter. 511 00:28:35,400 --> 00:28:37,759 Speaker 7: As Curtis Lee what famously said, there's time to sleep 512 00:28:37,759 --> 00:28:38,240 when you die. 513 00:28:38,319 --> 00:28:40,799 Speaker 1: That's that is true. That is true. And you take 514 00:28:40,839 --> 00:28:43,119 a lot of B twelve. As I learned about two 515 00:28:43,119 --> 00:28:46,480 weeks ago. He gave me the first bumps always free. 516 00:28:46,559 --> 00:28:49,400 That's what I've been told he gave me. He gave 517 00:28:49,440 --> 00:28:52,359 me one of your one of your B twelve Zip Phizz, 518 00:28:52,519 --> 00:28:55,400 Zip Fizz. He didn't help you dude, I was wired. 519 00:28:55,960 --> 00:28:56,160 Speaker 6: Yeah. 520 00:28:56,559 --> 00:28:59,119 Speaker 1: Yeah, So now I know the secret to no sleep 521 00:28:59,160 --> 00:29:04,400 and colination of all the shows. So all right, so 522 00:29:05,119 --> 00:29:07,079 I was not actually like I have show prep for 523 00:29:07,160 --> 00:29:09,759 other topics that I was going to get to today. 524 00:29:09,839 --> 00:29:11,200 Speaker 7: You've probably got nowhere near it. 525 00:29:11,359 --> 00:29:12,720 Speaker 1: Nowhere near it. 526 00:29:12,720 --> 00:29:15,839 Speaker 7: It's all tariffs all the time, right, yeah, I love that. 527 00:29:16,039 --> 00:29:21,119 Speaker 1: So all right, okay, so what do you think the 528 00:29:21,319 --> 00:29:26,200 grand strategy is for Trump on this? 529 00:29:26,279 --> 00:29:32,200 Speaker 7: For Trump, it's it's to reset the entire world's balance 530 00:29:32,240 --> 00:29:36,000 with the United States to what end so that we 531 00:29:36,240 --> 00:29:40,039 can genuinely I believe what he's trying to do is 532 00:29:40,160 --> 00:29:41,920 bring in enough money that we can get rid of 533 00:29:41,960 --> 00:29:42,640 the income tax. 534 00:29:43,799 --> 00:29:44,440 Speaker 1: Interesting. 535 00:29:45,680 --> 00:29:47,160 Speaker 7: I think that's what he's trying to do. I think 536 00:29:47,160 --> 00:29:51,720 he's trying to do two things. Okay, yeah, two things. Okay, 537 00:29:52,000 --> 00:29:55,119 So I think what he's doing is he is trying 538 00:29:55,160 --> 00:29:59,240 to beat Powell into submission. 539 00:29:59,440 --> 00:30:00,759 Speaker 1: Do you see what pal said today? 540 00:30:00,880 --> 00:30:03,440 Speaker 7: Yes, yeah, yeah, And I think he's trying to beat 541 00:30:03,480 --> 00:30:04,279 him into submission. 542 00:30:04,359 --> 00:30:06,440 Speaker 1: That's the Federal Reserve chairman, Yes. 543 00:30:06,400 --> 00:30:08,240 Speaker 7: Because it went down to it went down to three 544 00:30:08,400 --> 00:30:13,559 nine today three point nine. Okay, So he wants to 545 00:30:13,599 --> 00:30:16,599 be able to start paying down this debt, right that 546 00:30:16,640 --> 00:30:18,440 we've got thirty six trillion. 547 00:30:18,160 --> 00:30:19,960 Speaker 1: And do we have like some payments or something come 548 00:30:20,000 --> 00:30:20,920 and doing we do have them. 549 00:30:21,039 --> 00:30:24,440 Speaker 7: Yeah, So he's he's what he's done now is because 550 00:30:24,440 --> 00:30:27,079 of the way the stock market is, he has driven 551 00:30:27,960 --> 00:30:31,799 people to cash in the in the ten year treasuries now. 552 00:30:32,200 --> 00:30:35,519 And so that means if he can keep pum pummeling 553 00:30:35,559 --> 00:30:38,480 that and making it hard on Powell, then what will 554 00:30:38,519 --> 00:30:41,799 happen is we'll be able to pay those that money 555 00:30:41,799 --> 00:30:45,279 back at much lower rates and lock them in and 556 00:30:45,279 --> 00:30:47,799 lock them in for ten years. And I think that 557 00:30:47,920 --> 00:30:50,480 is that is what his objective is. So when people 558 00:30:50,519 --> 00:30:54,480 are screaming about like different, oh, it's too much, it's expensive, 559 00:30:54,559 --> 00:30:57,240 all this, he's playing a much longer game. 560 00:30:57,319 --> 00:31:00,400 Speaker 1: So do you think then that the the the tariff 561 00:31:00,440 --> 00:31:03,240 regime goes away. If if that's the goal and he 562 00:31:03,319 --> 00:31:06,920 gets he gets the the debt locked in at the 563 00:31:06,960 --> 00:31:11,720 lower rates, interest rates drop, yeah, then he just says 564 00:31:12,920 --> 00:31:16,039 and we're not well yeah, yeah, uh well no, no, 565 00:31:16,240 --> 00:31:18,559 I mean it's gonna be a right, it's gonna be 566 00:31:18,559 --> 00:31:21,359 a negotiation twenty four to seven, right, because what's gonna 567 00:31:21,359 --> 00:31:22,799 happen is like if you rent an apartment, and I 568 00:31:22,839 --> 00:31:25,559 rent an apartment, and the first the least is like 569 00:31:25,640 --> 00:31:26,680 eighteen hundred bucks. 570 00:31:27,839 --> 00:31:31,960 Speaker 7: Then the next year it's like nineteen hundred bucks. Whatever 571 00:31:32,000 --> 00:31:34,559 it is. All that stuff can be negotiated, right, And 572 00:31:34,640 --> 00:31:36,759 so I think he believes that this negotiation is going 573 00:31:36,839 --> 00:31:38,559 to be happening. But the thing that's important to know 574 00:31:38,599 --> 00:31:41,400 about Trump is he's playing with house money. Because he's 575 00:31:41,400 --> 00:31:43,039 not going to try to get re elected. He could 576 00:31:43,039 --> 00:31:45,559 do anything he wants between now and then, right, and 577 00:31:45,599 --> 00:31:48,599 so he's able to do these big, bold things. They 578 00:31:48,640 --> 00:31:50,960 would have been better off instead of stealing the election. Okay, 579 00:31:50,960 --> 00:31:53,200 not really. I don't know who the president was for 580 00:31:53,200 --> 00:31:56,759 the last four years, so I'm conf yeah, autop right, yeah, 581 00:31:56,799 --> 00:32:00,359 President auto pan. If they had just let him coming 582 00:32:00,400 --> 00:32:04,759 in and win the second election, he wouldn't have been 583 00:32:04,799 --> 00:32:07,680 doing this like he But they brought Hey, you guys, 584 00:32:07,960 --> 00:32:10,799 here you go. You went good atalk, good Eta. 585 00:32:10,880 --> 00:32:12,440 Speaker 1: And now he's on a mission from God. 586 00:32:12,839 --> 00:32:16,720 Speaker 7: Absolutely he is, and so he this he is playing 587 00:32:16,759 --> 00:32:18,920 with house money basically. 588 00:32:19,000 --> 00:32:22,559 Speaker 1: Yeah. I have heard had a caller during the show 589 00:32:22,599 --> 00:32:25,759 today who mentioned this, and I have heard the left 590 00:32:25,759 --> 00:32:27,319 he's saying that, oh, he's doing this so he could 591 00:32:27,359 --> 00:32:30,880 you know, buy the dip and he and Elon can 592 00:32:30,880 --> 00:32:32,480 make all this money on the stock market and all 593 00:32:32,519 --> 00:32:35,079 this stuff. It's like, of all of the explanations, that's 594 00:32:35,119 --> 00:32:35,759 the stupidest. 595 00:32:35,839 --> 00:32:38,960 Speaker 7: Okay, So, so like let's think about this for a second. 596 00:32:40,200 --> 00:32:42,640 What have we had to fight with for the last 597 00:32:43,480 --> 00:32:44,240 three four years? 598 00:32:44,799 --> 00:32:45,279 Speaker 1: Inflation? 599 00:32:45,400 --> 00:32:45,799 Speaker 6: Yeah? Yeah? 600 00:32:45,880 --> 00:32:46,119 Speaker 1: Yeah? 601 00:32:46,160 --> 00:32:48,400 Speaker 7: So how do we know the stock market's not inflated? 602 00:32:49,279 --> 00:32:50,160 Speaker 1: Isn't it always? 603 00:32:50,519 --> 00:32:51,920 Speaker 6: Right? No? 604 00:32:51,960 --> 00:32:54,759 Speaker 7: But right? I mean, like, why all this stuff that's 605 00:32:54,759 --> 00:32:57,319 getting all this stuff that's getting pummeled down now, I mean, 606 00:32:57,359 --> 00:33:00,279 it's that's the way I kind of view it. I 607 00:33:00,319 --> 00:33:01,160 think it's awesome. 608 00:33:01,680 --> 00:33:03,480 Speaker 1: Do you think it's awesome? I do think it's awesome. 609 00:33:03,480 --> 00:33:07,480 Speaker 7: The chaos it No, the chaos is a byproduct of 610 00:33:07,519 --> 00:33:12,799 the awesomeness. Look, if you don't sell your position, you 611 00:33:12,839 --> 00:33:14,079 didn't lose any money. 612 00:33:13,880 --> 00:33:15,319 Speaker 1: Of the stock market in the stock market. 613 00:33:15,359 --> 00:33:15,759 Speaker 6: Right. 614 00:33:15,920 --> 00:33:18,880 Speaker 1: So here's so my here here's what I say. I 615 00:33:18,920 --> 00:33:22,480 am raised in a in an environment. I am the 616 00:33:22,480 --> 00:33:24,680 fish that doesn't know it's wet. I've been raised in 617 00:33:24,680 --> 00:33:28,759 an environment that tariffs are inflationary, uh, and they tax 618 00:33:29,079 --> 00:33:34,119 the domestic consumer. That is the economic philosophy that I 619 00:33:34,359 --> 00:33:36,880 was under. The belief that this is the norm. So 620 00:33:37,319 --> 00:33:39,839 I make no predictions on what this how this all 621 00:33:39,880 --> 00:33:45,119 shakes out. It could be very beneficial, but we'll see. Yeah, 622 00:33:45,440 --> 00:33:47,839 we'll see what we So we got two more minutes. Roughly. 623 00:33:48,160 --> 00:33:49,680 I forgot I've been out of practice. 624 00:33:49,759 --> 00:33:50,160 Speaker 7: It's okay. 625 00:33:50,359 --> 00:33:51,960 Speaker 1: I took a Friday off and now here I am. 626 00:33:52,039 --> 00:33:53,319 Speaker 7: I'm following your lead. 627 00:33:53,440 --> 00:33:55,640 Speaker 1: I know it's which is weird because I'm used to 628 00:33:55,640 --> 00:33:59,839 following yours. Have you noticed that the view looks the 629 00:34:00,079 --> 00:34:02,720 aim as the hangover? 630 00:34:02,920 --> 00:34:05,319 Speaker 7: Oh my gosh, I guess I thought you meant the 631 00:34:05,359 --> 00:34:06,039 TV show. 632 00:34:06,480 --> 00:34:08,719 Speaker 1: No, God, why would I bring them up? 633 00:34:08,800 --> 00:34:10,880 Speaker 7: I don't know. You said the view, And I'm like, 634 00:34:11,679 --> 00:34:11,960 I'm not. 635 00:34:12,079 --> 00:34:13,679 Speaker 1: I mean, we can mock the view. 636 00:34:13,920 --> 00:34:15,360 Speaker 7: Well, you can't mock them enough. 637 00:34:15,679 --> 00:34:19,320 Speaker 1: Correct? Correct? Yeah, So I don't know how it shakes out. 638 00:34:19,519 --> 00:34:20,239 Speaker 7: Yeah, nobody. 639 00:34:20,280 --> 00:34:22,079 Speaker 1: And I don't write, and I don't pretend to. All 640 00:34:22,119 --> 00:34:24,840 I say is he'd better be right whatever it is 641 00:34:24,840 --> 00:34:27,119 that he is doing, he'd better be right, because if 642 00:34:27,159 --> 00:34:30,239 he's not right and this doesn't work out, My fear 643 00:34:30,320 --> 00:34:34,800 is you see wipeouts of wealth, but also you see 644 00:34:34,800 --> 00:34:38,880 wipeouts of Republicans for a long time to come. That's 645 00:34:38,920 --> 00:34:40,199 my that's really. 646 00:34:39,960 --> 00:34:40,559 Speaker 7: You think it'd be. 647 00:34:40,599 --> 00:34:42,800 Speaker 1: It'll be like that if it's bad enough. 648 00:34:43,079 --> 00:34:45,480 Speaker 7: Are you talking like great depression kind of a thing here? 649 00:34:45,760 --> 00:34:48,400 Speaker 1: I did. I did reference the smoot Holly. I heard 650 00:34:48,440 --> 00:34:50,440 it several times. I took great umbrage against him. He 651 00:34:50,480 --> 00:34:52,639 took umbradge at the smooth Haliet Are you are you 652 00:34:52,679 --> 00:34:54,559 a smooter? No? 653 00:34:54,679 --> 00:34:57,119 Speaker 7: But but the reality is the fundamental. I did a 654 00:34:57,159 --> 00:34:59,719 whole breakdown of that in the fourth hour last night. 655 00:34:59,760 --> 00:35:03,480 Speaker 1: I stuff. I know if i'd say, oh, the fourth hour, yeah, 656 00:35:03,559 --> 00:35:07,360 like dude, I'm eating dinner, going to bed. You know. 657 00:35:07,519 --> 00:35:11,199 Speaker 7: I was walking around the track trying to find where 658 00:35:11,199 --> 00:35:11,599 we were. 659 00:35:11,679 --> 00:35:14,119 Speaker 1: Did you buy any parts? 660 00:35:14,320 --> 00:35:15,119 Speaker 7: No? 661 00:35:15,119 --> 00:35:17,559 Speaker 1: No, okay, I don't. I mean no. 662 00:35:18,000 --> 00:35:20,400 Speaker 7: I figured I would leave them for the people because 663 00:35:20,440 --> 00:35:22,320 they may need that because of the tariffs. 664 00:35:22,559 --> 00:35:25,519 Speaker 1: That's fair. That's fair, all right, that's Brett Winnervo. You 665 00:35:25,519 --> 00:35:26,960 can listen to him actually, and I'm going to be 666 00:35:27,039 --> 00:35:29,280 right back with them. I'm sure he'll ask me more 667 00:35:29,320 --> 00:35:33,079 important things when we do that in a moment at 668 00:35:33,079 --> 00:35:35,239 three o'clock here on News Talk eleven ten nine three 669 00:35:35,280 --> 00:35:37,760 WBT pregaming with Brett that's what we call it, or 670 00:35:37,760 --> 00:35:41,719 pregaming with winter bul either way. All right, that'll do 671 00:35:41,760 --> 00:35:44,320 it for this episode. Thank you so much for listening. 672 00:35:44,440 --> 00:35:46,559 I could not do the show without your support and 673 00:35:46,639 --> 00:35:49,480 the support of the businesses that advertise on the podcast, 674 00:35:49,679 --> 00:35:51,760 so if you'd like, please support them too and tell 675 00:35:51,800 --> 00:35:53,519 them you heard it here. You can also become a 676 00:35:53,559 --> 00:35:58,199 patron at my Patreon page or go to dpetecleanershow dot com. Again, 677 00:35:58,480 --> 00:36:01,000 thank you so much for listening, and don't break anything 678 00:36:01,000 --> 00:36:01,639 while I'm gone. 679 00:36:08,880 --> 00:36:09,079 Speaker 7: Hmm.