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Speaker 1: Well, hello, Hi, how are you welcome to the Big

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Podcast on this Friday. Today is the sixteenth day of January,

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year of our Ward, twenty twenty five.

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Speaker 2: My name is Tom Sullivan. So here we go. Three

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day weekend for some people, Martin Luther King Junior Day

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is on Monday, markets are closed and so forth. So

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I've always thought it doesn't feel like a holiday because

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it's not as well recognized by businesses. Most businesses are

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going to be open. But at so is there really

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a three day weekend or not?

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Speaker 3: I don't know.

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Speaker 2: For some of you, yes, but.

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Speaker 3: A lot of you know.

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Speaker 2: So we've we've got a lot of the usual suspects today.

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We've got Iran and Minneapolis and Venezuela and all of

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these international stories. And it's interesting to see there's a

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lot of pulling out that if you look at the headlines.

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The polling basically is a significant majority fifty eight percent

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in one poll that I saw say that the first

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year of President Trump's term in office in his second

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term has been a failure. But when you when you

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just you don't even need to dig deep. All you

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got to do. But that's the headline that people are

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talking about and the reason why they're upset is because

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of the fact that he's not spending enough time on

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affordability and the economy and on them and domestic issues

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instead of Venezuela and Iran and everywhere else. But when

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when you peel back just one slice of the onion,

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you find out that Democrats are only seven percent think

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that Donald Trump has done done a good job, no surprise.

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Ninety three percent that thumbs down. Now, he's done a

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horrible job. His first year is a failure. Okay, so

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go to the Republicans. Eighty nine percent of Republicans think

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that his first his first year in the second term,

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has been a success. Eleven percent say no, he's been

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a failure. So it really is just the opposite between.

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It just shows we're still a very divided country where

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you get eighty nine percent of Republicans think he's done

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a good job and ninety three percent of Democrats think

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he hasn't. That I guess you get into is this

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the crowd that's going to decide things when it comes

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to the ballot box, and that is the independence and

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there he's lacking. One third say he's done a lot

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a good job, two thirds think he has failed. So

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it just goes to the focus needs to be on

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the independence. And I do think that you can chew

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gum and walk at the same time. And I think

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that he's going they're going to try to get him

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to do that. Although he gave that economic speech in

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Detroit a couple of days ago, and it was interesting

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because he basically wound up going off on He was

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supposed to stick with the economy, but instead he he

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went off on Joe Biden, he went off on transgender athletes,

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he went off on Venezuela. He talked about a lot

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of things that the board factory. That was supposed to

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be a folks on the economy. But that's him. He's

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That's who Donald Trump is. He doesn't uh, he doesn't

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follow the script. Let me just I guess that's the

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best way to put it. We've got some we've got

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some updates on the FED. Who is going to be

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the next FED chief? And this gets into you know,

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President Trump likes people that he sees on television. I

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mean that's where he got, uh, Pete Hegg said, that's

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where he got a bunch of people that are that

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are well. Mark Rubil came from the Senate, obviously, but

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there's a lot of people that he has that are

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former television people, and he loves the fact that I

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think Kevin has It does a great job on television.

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And he also kind of smiles a lot while he's

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talking about the economy and people like Kevin has It.

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And guess who else likes Kevin has It. That's Donald Trump.

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And he wants to keep Kevin Hasset, he said today

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right where he is, basically being a spokesman for things

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that the President is doing. Here's the President.

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Speaker 4: I see Kevin's in the onions and I just want

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to thank you. You were fantastic on television today. I

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actually want to keep you where you are. If you

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want to know the truth, Kevin Hassett is so good.

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I'm saying, wait a minute, if I move him these

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head guys, certainly the one we have, no, they don't

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talk much, I would lose you.

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Speaker 3: It's a serious concern to me.

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Speaker 2: It is a serious concern to him because Hassett does

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a good job of spending things the way the White

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House likes to see them spun. So that then changes

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things about who then is in the lead, because it

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was a tie essentially between the two Kevins, Kevin Hassett

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and Kevin Walsh. And now today the prediction markets have

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said fifty nine percent chance that Kevin Walsh is going

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to be the new FED chief and only fifteen percent

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that Kevin Hassett will be. He didn't say he wasn't

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going to appoint him to the Fed. He said I'd

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hate to lose you. And you can read into that

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whatever you want. But yeah, so the prediction markets are

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now going for Kevin Walsh. The other thing, the markets

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kind of like it too, And I'll tell you why.

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They looked at Kevin Hassett. They like him too. But

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the only thing is they want an independent FED chief

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and Kevin Hasset would be perceived to be not so

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independent but would be basically doing the President's bidding. And

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so Walsh is a much more independent guy. So, as

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the President said, he's going to make the announcement before

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the end of this month. So we'll see what goes

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on there. You want it, well, let's jump into Greenland

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on our international tour here today. Speaking of Poles, got

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a lot of polls today. Only seventeen percent of people

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are in favor of US taking over Greenland only seventeen percent.

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And then the second question that was asked was how

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about are you in favor of using the military to

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take over Greenland? And it's even lower. Only four percent

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are in favor of using the US military to take

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over Greenland. There's no question Greenland is strategically important where

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they sit. But I mean, if we're going to do Greenland,

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why don't we take over Sweden and Norway? They're also

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up in that area. It makes no sense, doesn't to me.

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It makes no sense, especially since we have an agreement

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with Greenland, and Greenland are saying, come on up, build

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as many military bases as you want, bring in more people.

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In fact, it would be we would love the investment.

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Congressman Don Bacon, who's a retired Air Force general, he's

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a Republican. This is his thought. We have a base

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there right now. It's a very important base. We used

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to have roughly I think fourteen bases at the height

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of our presidence in Greenland. What we should be doing

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is sitting down with the Danish leadership in Greenland leadership

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and saying, what do we really need to have for

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security in the Arctic. Do we need to have more

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presidence of US Navy. Do we need to have an

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air Force base. This is a discussion we should be having.

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Denmark would be very supportive of this. So with the

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the citizens of Greenland, they would love to have more

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presidents there, they would love to have more US investment

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and mining. So to threaten Greenland our ally, to achieve

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something that you could do in a frontly negotiation, a

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friendly handshake, it's really absurd. And the Monroe doctrine is

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to keep out other countries in the western hemisphere. Greenland

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is in the western northern hemisphere and they're our ally,

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and so it's really strange, absurd talking by the way,

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twenty years ago, we would even be madder, you know,

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in fact, to think of Ronald Reagan. But I had

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this discussion, it would have been impossible. Ronald Reagan honored

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and valued our alliances and they knew Russia was the

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threat and not our alliances. So this is this is

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not traditional Republican viewpoint, frankly, going back to its World

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War Two and it's more like eighteen nineties William McKinley

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kind of thinking, or was it sort of the minds

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that we had in the nineteen thirties before World War Two.

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We've learned from World War Two and after with the

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Cold War, that US is the leader of the free world.

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We should do it with humility, but also that we

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have to have close friends and alliances. Administration seems to

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forget those lessons learned, and its early comes out clear

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when we're talking about this Greenland issue. Yeah, so we'll

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see what goes on there. I again heavy majority. I

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don't want us to take over Greenland, especially not use

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the military. But what about Venezuela. Venezuela Maria Corina Machado

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has been in DC a couple yesterday and today she

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went to the White House and guessed what she brought

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with her. Yes, she brought with her the Nobel Prize

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medallion and it was boy, somebody did a nice job

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of framing it. They've put it on a matt and

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put a frame around it, and the frame is very gold,

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so it will fit in perfectly wherever Donald Trump wants

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toy hang it because he loves gold things on the wall.

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There's a little bit of what Murraa Karina Mashada was

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talking about earlier today.

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Speaker 5: He deserves it and it was a very emotional moment,

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I decided to present the novel piece Price Medal on

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behalf of the people of Venezuela.

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Speaker 6: It goes very well.

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Speaker 5: It went very well. I'm very grateful for the opportunity

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I had to speak with President Trump, something I've been

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looking forward for a very long time. It was a

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huge responsibility because I did it on behalf of a

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Venisuelan people that appreciate so much what he has done

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for not only the freedom of the Venezuelan people, but

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I would say the whole hemisphere. First of all, I

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wanted to share with President Trump my profound trust in

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the Venezuelan people, and I told him that, please trust

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of Venisonan people. We are people that love the United

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States of America, that share values, that admire the strength

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of your institutions, that want to leave with democracy and

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dignity and justice and freedom. We want to have our

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children coming back home and work together for the security

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of the whole hemisphere. And I wanted to convey this

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to him and for him to know how much support

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and hope there is today in Venezuela regarding what he's

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doing in our country.

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Speaker 2: So everything went well, and she was discussing about thanking

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America thanking him.

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Speaker 3: He loved that.

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Speaker 2: He soaked it right up, and then he gave him

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the medallion from the Nobel from the Nobel Peace Price

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looked thrilled as well. Virginia Coates, former national security official,

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kind of analyzed where she is in the whole operation

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regarding Venezuela.

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Speaker 7: So, I think, you know, Delsie Rodriguez is the actors.

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The vice president is now the acting president. That is

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part of how the Venezuelan constitution works. That's the process

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that's supposed to occur, and so I think what you're

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seeing the administration do is follow that process. And also

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part of the constitution is that when you have an

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interim president, you then go to elections. My understanding is

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their Supreme Court is figuring out what the timeline is

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for that.

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Speaker 3: Now.

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Speaker 6: Maria Karina has said very clearly she wants to run.

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That's great.

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Speaker 2: She should.

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Speaker 6: There are other opposition leaders who I'm sure will throw

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their hats in the ring as well, and we can

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have a robust debate about the future of Venezuela.

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Speaker 2: Well, good to hear. I think that they are going

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to get through this period, get things settle down and

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then hold a lack and then Machado can run and

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we'll see how she does in that. But they're trying

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to follow, according to Virginia Coach, they're trying to follow

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their country's constitution. As far as Iran goes. It takes

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a while. We moved a lot of our naval fleets

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down to the coast of Venezuela. So now we've got

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a hot potato back in the Middle East, and they've

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got ships heading as fast as they can back to

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that part of the world. It's going to take them

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about a week to get there, General Jack Keene, and

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it summarizes where things are on our efforts militarily with Iran.

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Speaker 8: Well, we have a lot, and I think a lot

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has already taken place. I mean, clearly, the president has

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made a statement. His credibility is online and listen. When

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he gives his word, he executes, and that is simply

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to hold the people that are accountable for what they

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have done to their own citizens and killing them. That

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is his promise to the people that have been on

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the street out there willing to risk their lives, and

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in thousands of cases that is exactly the tragedy that

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has taken place here, So what is likely taking place

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in what could take place?

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Speaker 3: Well, first of all, we're trying.

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Speaker 8: To squeeze around in terms of the ability to sell

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more oil that has been selling, that has taken place.

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That's not decisive in itself, but it's an enabler. We're

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likely helping the protesters communicate better given the Iranians have

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shut down the Internet, and that's a covert operation to

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do something like that. Cyber operations likely being conducted against

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Iranians command and control systems. They're telecommunications and ability for

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the IRGC and the Bass militia who are on the

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streets to communicate effectively. Also cyber operations against their surveillance

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capability of the population itself. All of those are capabilities

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of the United States has that are second to nobody's. Our

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offensive cyber capability is really something very special. And then

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we get the information operations. We are likely conducting information

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operations against the oppressors, the middle level leaders of the oppressors,

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the people also carrying the guns. Because if and when,

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and I believe it's when kinetic operations are conducted against

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that organization, against its leaders, we want divisiveness in it.

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We want that organization to break apart. We want some

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of them to go over to the side of the protesters,

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because the reality is the regime is more in trouble

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as a result of kinetic operations and then the administration

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into kinetic operations itself. Obviously, leaders obviously the organization is

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doing is suppressing, but you have to consider what else

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Aron's ability to retaliate. Who would they retaliate against US

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spaces and Israel. So one, let's make certain that the

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defense of those systems are as good as they can be,

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and that has to be taken into consideration. And then

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what do we do about the target set in reducing

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Iran's capability to conduct those retaliation attacks. These are all

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things that are laid out to the President and making

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decisions and options, and obviously that means we would have

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to expand the target set to make certain we take

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down some of Iran's ballitfictic missiles. I assume, I don't know.

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I don't ask those kind of questions, but just looking

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at the portfolio and what needs to be done, you

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always have to consider what is the retaliation that Iran

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is going to do?

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Speaker 3: Hen and let's get something straight.

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Speaker 8: The objective of this attack has never been they're going

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to go to collapse this regime.

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Speaker 3: And we're going to get a regime change. I mean

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that article.

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Speaker 8: I totally disagree with it. The president, and there's known

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that from the outset. At best, what would come of

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this is we put the Iran regime on a pathway

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to its collapse. That's at best, we don't have an

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organization to take it over. If there was an organization

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out there ready to take over the regime, what would

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Iran do with that? They would be killing them and

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they would be putting them in jail and hanging them.

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So this is a process that's taken place. We're focused

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on holding the people accountable for what they have done

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and then putting it on a pathway to so weaken

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the regime, which is already politically, economically, and military the

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weakest that has been in forty five years. Our actions

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here will further weaken it.

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Speaker 2: He makes a great point about the fact that, well,

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if we take the regime down, who's going to run

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the place? Now you've got a vacuum, and we know

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that has not worked out very well in other places

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in the world. But you look at what's going on

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with Iran. How weak are are they now versus Oh,

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let's go back to two thousand and nine, and Barack

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Obama was president at the time, and also in the

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twenty twenty two the people were uprising and they did

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not succeed. The people did not succeed, the regime did.

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So what's the general how does he size up this

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regime compared to those other events.

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Speaker 8: Oh? Yeah, it is absolutely better than nine when we

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did nothing. Certainly better than what took place in twenty nineteen,

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largely economic issues. Twenty twenty two dealing with Mashamini when

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she was killed. Yes, but of course the regime has

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reacted considerably more violently than than they have done in.

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Speaker 3: The past as well.

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Speaker 8: This is a huge opportunity because going in, as I said,

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the regime has never been this week, and that's fundamentally

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what's taking place. And the people peple on the streets

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understand that. That's why they keep coming out what the

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regime is doing. Right now, they're in all the neighborhood

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with guns pointing at the houses.

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Speaker 3: Every street has.

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Speaker 8: Guns out there and not wanting them to get out

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of the house, and they come out of the house,

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they're going to shoot them. And that is what has

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taken place in terms of suppressing the people's ability to

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get back out on the street. President Trump said he's

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going to hold them accountable. I take him out his word.

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Speaker 2: So there's the analysis on the military side from General Kean.

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As far as doing something about it, Lindsey Graham is

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probably the biggest hawk in the Senate and he has

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never seen a conflict that he doesn't want to dispatch

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the military too. Here's here's the Senator Lindsey Graham's view

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on what to do.

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Speaker 3: Iran being slaughtered in the streets.

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Speaker 9: If that's not a distraction, that's the moment where we

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need to add the idea. We're dealing with the most

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vicious regime on the planet. If you don't understand this

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is the biggest moment for change since the follow the

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Berlin Wall, you're missing a lot. This is a religious war.

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Speaker 2: So Lindsey Graham's predictable. But remember he also has the

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President's here. He's one of his regular golf buddies, So

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you know the President listens to Lindsey Graham at least

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when they're out on the golf course, And well, let's

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just talk about the politics of this, because, like I said,

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the polls are Democrats don't like Trump, the Republicans do.

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The independents are the ones you got to keep an

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eye on. But as far as economics go, let me

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just weigh in just a little bit here, because the

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president's been repeating some things that I want to just clarify.

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He talks about the fact that growth is exploding. It

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is growing, We have a growing economy, and it's growing

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fairly well. I don't think anybody will argue that he

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talks about investment is booming. That's true. He's bringing in

351
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lots of investments into this country. Incomes a rising and

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inflation is defeated. Well. Consumer prices are rising too, and

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they rose again last month, higher food and higher rent.

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In the numbers job the labor market is looking at

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best that it's steady, but the worry is that it's

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maybe starting to get sluggish. Affordability is still the top

357
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issue when people are asked about what they care about.

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As far as the factories, employment in factories actually went

359
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down eight thousand jobs in December, and that was below

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any number regarding employment in factories in his first term.

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So it's down. And as far as the the investment,

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that's great about the investments that are going to come in.

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And apparently a number of factories are starting to be built,

364
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but it takes probably a year to build some of it,

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maybe more to build some of these factories. And you

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can't have manufacturing jobs unless the factories are built. And

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so the manufacturing jobs have been down, not up. But

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a lot of people that want to criticize the president

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are focusing on, well, look at that manufacturing jobs are down. Okay,

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but wait till the factories are built and then they'll

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fill those people into those factories. He likes to brag

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about the tariffs are prompting a new wave of auto factories,

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but there's little evidence about any auto factories being constructed.

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And when it comes to automobiles, let me start there.

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Canada has just struck a new deal with China, which

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included in that is Canada is going to allow fifty

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thousand new EVS electric vehicles from China. Now, these Chinese

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electric vehicles, some of them are beautiful. They're out selling

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Tesla in China, and the price for Chinese automobiles in

380
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US dollars ranges from the cheaper models are down around

381
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ten thousand dollars, and they go all the way up

382
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to the most expensive model of Chinese cars about seventy

383
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thousand dollars. So I listened to some of the like

384
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Jamison Greer talking about, you know, the president's trying to

385
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protect American jobs. That sounds like what they said in

386
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the nineteen sixties they were trying to protect Detroit, and

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instead the Japanese moved in with their small, efficient automobiles

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and changed the entire economics of the Big three in Detroit.

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So Canada is going to be allowing fifty thousand Chinese evs.

390
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I could imagine people in the US will want to

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fly up to Canada, buy one of those things and

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drive back down here. I don't know whether they will

393
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allow you to buy one of those cars and drive

394
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around in the US or not. Here's a little bit

395
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from Jamison Greer. He and Sean Duffy and Lee Zelden

396
00:25:30,519 --> 00:25:35,960
were at him Otto factory in Ohio, and this is

397
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what Jamison Greer had to say.

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Speaker 10: Well, I think it's problematic for Canada. There's a reason

399
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why we don't sell a lot of Chinese cars the

400
00:25:44,519 --> 00:25:48,400
United States. It's because we have tariffs to protect American

401
00:25:48,400 --> 00:25:51,839
auto workers and Americans from those vehicles. You know, the

402
00:25:51,880 --> 00:25:53,799
Canadians were trying to get some tear for leaf on

403
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their own to get ANAG into there. I think in

404
00:25:55,680 --> 00:25:58,000
the long run they're not going to like having made

405
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that deal. All that being said, you know, American cars

406
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are still going to be sold into Canada. We have

407
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a huge market share there, and I think that the

408
00:26:07,359 --> 00:26:10,640
Canadians dependence on the United States are their GDP. The

409
00:26:10,680 --> 00:26:12,640
United States is always going to have an outsize role

410
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in that economy.

411
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Speaker 2: So it's going to be what you got to keep

412
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an eye on what the Canadians are going to do

413
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if they're going to have a choice between buying a

414
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US made car or buying a China made car. And

415
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Chinese cars, I'm telling you the quality of them looks

416
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really good. I don't know what the Canadian citizen is

417
00:26:35,720 --> 00:26:38,640
going to choose, but I mean, especially if the Chinese

418
00:26:38,640 --> 00:26:43,880
cars are less than half, substantially less than half of

419
00:26:43,920 --> 00:26:46,039
the cost of an American car, what would you do?

420
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Phil Lebou, who covers Detroit and the automobile sector for CNBC,

421
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Listen to what he has to talk about regarding how

422
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expensive US cars are at this.

423
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Speaker 11: Sticker shock and the administration's efforts to remove some of

424
00:27:04,359 --> 00:27:07,279
that sticker shock by making vehicles more affordable. Take a

425
00:27:07,319 --> 00:27:10,000
look what the average price paid is for a new

426
00:27:10,119 --> 00:27:12,640
vehicle right now. If you went out this is according

427
00:27:12,680 --> 00:27:14,880
to Cox Automotive, if you went out to a dealership,

428
00:27:15,039 --> 00:27:19,079
you'd be paying fifty thousand, three hundred and twenty six dollars.

429
00:27:19,119 --> 00:27:22,480
That is an all time high. And for the Trump administration,

430
00:27:22,759 --> 00:27:26,200
they realize, and they've heard the complaints from people across

431
00:27:26,200 --> 00:27:29,240
the country, Wait a second, it's too expensive to buy

432
00:27:29,279 --> 00:27:29,799
a new.

433
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Speaker 3: Vehicle right now.

434
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Speaker 11: Heck, use vehicle prices are close to a record high

435
00:27:33,640 --> 00:27:35,880
as well. And so this is the beginning of their

436
00:27:35,920 --> 00:27:39,000
efforts today to say, look, we need to make vehicles

437
00:27:39,039 --> 00:27:42,039
more affordable. The average monthly payment, and this is how

438
00:27:42,039 --> 00:27:45,079
most people look at buying a vehicle. The average monthly payment,

439
00:27:45,079 --> 00:27:47,720
according to Edmonds, right now is seven hundred and eighty

440
00:27:47,720 --> 00:27:50,880
one dollars. You really want to be surprised, look at

441
00:27:50,880 --> 00:27:54,440
the percentage of auto loans that include a monthly payment

442
00:27:54,599 --> 00:27:58,000
of at least one thousand dollars, if not more. It

443
00:27:58,160 --> 00:28:01,440
was five percent back in twenty nineteen. Now one out

444
00:28:01,440 --> 00:28:04,200
of every five auto loans, according to Edmunds, has a

445
00:28:04,240 --> 00:28:07,720
monthly payment of at least one thousand dollars. For GM

446
00:28:07,839 --> 00:28:10,640
Ford Stilantis, they're going to be part of the tour

447
00:28:10,680 --> 00:28:14,599
today with the administration where representatives will be talking about

448
00:28:14,640 --> 00:28:18,599
auto affordability. Look, their profits have been growing, and the

449
00:28:18,720 --> 00:28:20,440
argument that you will hear from people in the auto

450
00:28:20,480 --> 00:28:23,839
industry is it's not my job to tell people they

451
00:28:23,839 --> 00:28:26,759
can't afford a particular vehicle. My job is to give

452
00:28:26,799 --> 00:28:29,680
the market what it wants, and right now the market

453
00:28:29,720 --> 00:28:31,880
is willing to pay more for vehicles.

454
00:28:32,400 --> 00:28:34,839
Speaker 2: So there's a little bit of deja vu going on

455
00:28:34,960 --> 00:28:39,160
with me because I remember when there were big expensive

456
00:28:39,400 --> 00:28:43,240
forward in Chrysler and General Motors cars and they were

457
00:28:43,279 --> 00:28:48,720
gas hogs. And the Japanese came in with good quality,

458
00:28:49,319 --> 00:28:55,240
cheaper cars and they completely upended the big three in Detroit.

459
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And I just as like I said, a little dja

460
00:28:58,400 --> 00:29:01,519
vu going on about we're trying to protect the American

461
00:29:01,599 --> 00:29:07,039
automobile industry. Well, wait until people get their hands on

462
00:29:07,079 --> 00:29:09,519
some of these foreign made cars, if that are at

463
00:29:09,680 --> 00:29:14,480
much cheaper prices. Sean Duffy, the Secretary of transportation. He

464
00:29:14,680 --> 00:29:18,319
was with Lee Zelden and Jamison Greer and they were

465
00:29:18,359 --> 00:29:20,599
at a it's kind of noisy in the background, but

466
00:29:20,640 --> 00:29:24,359
they were at an auto factory in the Cincinnati area,

467
00:29:25,079 --> 00:29:27,960
and Duffy's talking about what they're trying to do to

468
00:29:27,960 --> 00:29:29,400
get the price of cars lower.

469
00:29:30,400 --> 00:29:32,799
Speaker 12: Well, first off, President Trump has put his whole team

470
00:29:32,799 --> 00:29:36,079
in place to make sure a pushing to have rules

471
00:29:36,079 --> 00:29:39,000
and regulations that are going to drive down prices. So

472
00:29:39,200 --> 00:29:40,880
you not talk to about this a little bit, but

473
00:29:41,480 --> 00:29:45,279
Cafe standards were the Liberals the Democrats wanted to have

474
00:29:45,359 --> 00:29:48,519
a transition to electric vehicles, which are driving up the

475
00:29:48,559 --> 00:29:51,720
cost of gas powered autos, and the American people were

476
00:29:51,720 --> 00:29:54,880
paying the price. We are taking that standard, the Cafe standard,

477
00:29:54,920 --> 00:29:57,480
from almost sixty miles a gallon back down to our

478
00:29:57,519 --> 00:30:00,440
reasonable standard of thirty five miles a gallon. What that's

479
00:30:00,440 --> 00:30:03,960
going to mean is at least one thousand dollars enterprice

480
00:30:04,000 --> 00:30:07,720
cut for those who are buying vehicles in America. Not

481
00:30:07,759 --> 00:30:11,119
only that, President Trump has been focused on energy prices

482
00:30:11,200 --> 00:30:14,599
or gas prices are at a six year low. And

483
00:30:15,400 --> 00:30:17,480
so again it's all of government approach, and that's why

484
00:30:17,559 --> 00:30:21,160
we're here together working on these policies, but also make

485
00:30:21,200 --> 00:30:24,039
it so the other workers know that this administration is

486
00:30:24,039 --> 00:30:24,640
paid attation.

487
00:30:25,279 --> 00:30:30,160
Speaker 2: So back to what Phil Lebo said, the average price

488
00:30:30,359 --> 00:30:32,680
of a new car not the top price, but the

489
00:30:32,880 --> 00:30:38,839
average is over fifty thousand dollars, and that twenty percent

490
00:30:39,000 --> 00:30:41,680
of people buying cars are paying one thousand dollars or

491
00:30:41,720 --> 00:30:45,599
more per month. So it's they got a lot of

492
00:30:45,640 --> 00:30:47,240
work to do. They got to find more than just

493
00:30:47,279 --> 00:30:50,599
one thousand dollars to trim off the price of automobiles.

494
00:30:50,759 --> 00:30:53,480
So one of the reporters that this tour of these

495
00:30:53,519 --> 00:30:57,519
officials asked about can you can the government or should

496
00:30:57,519 --> 00:31:00,680
the government put in some mandate It says that ottot

497
00:31:00,680 --> 00:31:04,599
want makers have to make cars that are no more

498
00:31:04,640 --> 00:31:09,440
than thirty thousand dollars in price, And Duffy went, no, way.

499
00:31:10,640 --> 00:31:12,279
Speaker 12: No, you can't have I mean failed, you can't have

500
00:31:12,319 --> 00:31:13,039
a mandate like that.

501
00:31:13,160 --> 00:31:15,079
Speaker 3: I mean places have gone up.

502
00:31:15,839 --> 00:31:18,920
Speaker 12: But the reality is, when we have good policies and

503
00:31:19,000 --> 00:31:22,880
great American workers, you're going to see more affordable cars.

504
00:31:22,920 --> 00:31:25,599
I mean, we don't want an old Soviet union style

505
00:31:25,720 --> 00:31:29,599
set of price fixing in autose that doesn't make any sense.

506
00:31:30,240 --> 00:31:33,799
But what you want is good policies, great companies and

507
00:31:33,880 --> 00:31:37,359
amazing American workers to produce cars that Americans actually want

508
00:31:37,359 --> 00:31:42,119
to buy and that are safe, high quality, and with that,

509
00:31:42,160 --> 00:31:44,160
I think you're going to get better pricings.

510
00:31:45,440 --> 00:31:47,480
Speaker 2: And that sounds like he took his speech right out

511
00:31:47,480 --> 00:31:50,839
of some dude back in nineteen seventy and here came

512
00:31:51,319 --> 00:31:54,519
the Japanese, and the Japanese may do it again, or

513
00:31:54,559 --> 00:31:57,519
if it's not the Japanese, maybe somebody else in the

514
00:31:57,559 --> 00:32:02,480
world besides China. But if the cost of a car

515
00:32:02,880 --> 00:32:08,279
average is fifty thousand dollars, there are opportunities for foreign

516
00:32:08,359 --> 00:32:12,880
automakers to try to move into this country. Because when

517
00:32:12,920 --> 00:32:15,000
a push comes to shove, all the things about the

518
00:32:15,039 --> 00:32:18,799
American automaker and all that wave the flag patriotic, that's

519
00:32:18,799 --> 00:32:22,079
all good. But I've seen people too many times go

520
00:32:22,200 --> 00:32:27,079
for what's the lowest price. And again I'm not trying

521
00:32:27,119 --> 00:32:29,400
to sell Chinese cars to you, but what I have

522
00:32:29,559 --> 00:32:33,559
seen and how they're doing versus U West cars in China,

523
00:32:34,119 --> 00:32:39,839
the Chinese are well, they subsidize they're automakers heavily, and

524
00:32:39,880 --> 00:32:42,559
that's why they're able to produce a high quality car

525
00:32:43,119 --> 00:32:47,000
for a very very low price. I'm going to keep

526
00:32:47,000 --> 00:32:49,440
an eye, especially on of those Canadians and find out

527
00:32:49,480 --> 00:32:53,200
for all of you in Canada which car you're going

528
00:32:53,279 --> 00:32:57,359
to buy. I can hardly wait to see what happens. Meantime,

529
00:32:57,400 --> 00:33:01,319
speaking of politics, so Chuck Schumer is now making a

530
00:33:01,319 --> 00:33:04,400
bunch of noises about the Senate and he says they

531
00:33:04,440 --> 00:33:07,039
only need to flip The Democrats only need to flip

532
00:33:07,599 --> 00:33:13,079
four seats in order to take control of the Senate.

533
00:33:13,720 --> 00:33:17,799
A Carl Rov who already in his Wall Street Journal article,

534
00:33:17,839 --> 00:33:20,559
is already saying that it looks like the Democrats are

535
00:33:20,599 --> 00:33:25,119
going to take control of the House. Yes he is,

536
00:33:26,119 --> 00:33:29,160
So let's see what he says about Chuck Schumer and

537
00:33:29,200 --> 00:33:30,680
his idea about flipping the Senate.

538
00:33:31,400 --> 00:33:33,319
Speaker 13: Well, he's got to say that they've got a shot

539
00:33:33,359 --> 00:33:35,440
because he's the Senate Democratic leader.

540
00:33:35,440 --> 00:33:36,480
Speaker 3: But think about this.

541
00:33:36,640 --> 00:33:40,400
Speaker 13: Alaska, Dan Sullivan won an election last time around by

542
00:33:40,880 --> 00:33:43,559
thirteen points at the same time that Donald Trump was

543
00:33:43,599 --> 00:33:47,359
winning Alaska by eleven He ran ahead of the president. Maine,

544
00:33:47,400 --> 00:33:51,319
Susan Collins won last time around by nine points, while

545
00:33:51,440 --> 00:33:54,839
Donald Trump is losing the state by nine points. That

546
00:33:55,480 --> 00:33:57,920
says she's pretty strong. Strong as an acre of garlic.

547
00:33:58,160 --> 00:34:02,359
North Carolina the last midterm election. At the time that

548
00:34:02,400 --> 00:34:05,240
people voted, the Democrats had a registration advantage of two

549
00:34:05,359 --> 00:34:09,400
hundred and seventy six thousand more Democrats and Republicans. As

550
00:34:09,440 --> 00:34:12,440
of this month, there are now five thousand more Republicans

551
00:34:12,440 --> 00:34:15,119
in North Carolina the Democrats the first time in the

552
00:34:15,159 --> 00:34:17,239
history of the state in which there have been more

553
00:34:17,280 --> 00:34:21,000
registered Republicans than Democrats. And finally Ohio, Donald Trump won

554
00:34:21,039 --> 00:34:24,880
the state by eleven points. The Republican Senator John Housteed

555
00:34:25,360 --> 00:34:28,880
was lieutenant governor, and the ticket of Mike Dwine and

556
00:34:28,960 --> 00:34:32,800
John Houstead in the last midterm election won by twenty

557
00:34:32,840 --> 00:34:36,760
five points. So, you know, Chuck is always an optimistic guy,

558
00:34:37,079 --> 00:34:40,039
but he's got a big uphill he'll decline.

559
00:34:40,199 --> 00:34:43,840
Speaker 2: So Carl covered the for state that Schumer thinks that

560
00:34:43,840 --> 00:34:46,079
they're going to be able to win. Carl Dost think so.

561
00:34:46,639 --> 00:34:49,800
But what about this business about the House and how

562
00:34:50,480 --> 00:34:51,840
Republicans could lose it?

563
00:34:52,000 --> 00:34:54,719
Speaker 13: Well, I put it in my column of predictions last

564
00:34:54,760 --> 00:34:57,760
week in the Wall Street Journal, It's I think the

565
00:34:57,960 --> 00:34:58,880
House goes Democrat.

566
00:34:58,920 --> 00:34:59,280
Speaker 3: You're right.

567
00:34:59,280 --> 00:35:01,840
Speaker 13: In the modern yar e go back to the end

568
00:35:01,840 --> 00:35:03,840
of World War Two, there have only been two mid

569
00:35:03,920 --> 00:35:07,719
term elections in which the president's party gained seats. Nineteen

570
00:35:07,800 --> 00:35:11,519
ninety eight, the Republicans that overplayed their hand on impeachment

571
00:35:11,559 --> 00:35:14,199
of Bill Clinton. His approval rating was in the sixties,

572
00:35:14,559 --> 00:35:19,760
and the Democrats picked up seats in the House in

573
00:35:19,880 --> 00:35:24,079
nineteen Actually, in two thousand and two, George Bush's approval rating,

574
00:35:24,159 --> 00:35:27,119
George W. Bush was at sixty some odd percent, and

575
00:35:27,159 --> 00:35:29,519
the Republicans picked up seats in the House and Senate.

576
00:35:29,719 --> 00:35:31,400
I happened to be in the White House then knew

577
00:35:31,400 --> 00:35:33,039
a little bit about what was going on. And let

578
00:35:33,079 --> 00:35:35,400
me tell you, even with a sixty percent approval rating,

579
00:35:35,639 --> 00:35:38,920
it was really tough. So with a narrow margin, you'd

580
00:35:38,960 --> 00:35:41,880
have to bet on the Democrats taking the House.

581
00:35:42,159 --> 00:35:46,239
Speaker 2: So we still have, what is it, ten months until

582
00:35:46,280 --> 00:35:49,880
election day. We'll see what happens. There's a lot that

583
00:35:49,960 --> 00:35:55,000
can have eternity. Let's talk about Wall Street. It was, well,

584
00:35:55,039 --> 00:35:57,400
we've got a three day week in markets, clothes on

585
00:35:57,440 --> 00:36:01,079
Monday because of Martin Luther King Junior Day, So today

586
00:36:02,320 --> 00:36:05,079
not much. Markets kind of stayed close to home. The

587
00:36:05,159 --> 00:36:09,800
doubt fell eighty three down to forty nine thousand and three,

588
00:36:09,960 --> 00:36:16,760
fifty nine, SMP down four Nazdack down fourteen, gold fell

589
00:36:17,039 --> 00:36:20,880
twenty four dollars is now at forty five ninety nine

590
00:36:20,960 --> 00:36:25,039
for an ounce of gold, and oil essentially unchanged today

591
00:36:25,119 --> 00:36:29,039
fifty nine dollars for one barrel of oil. That's it

592
00:36:29,119 --> 00:36:33,239
for today. Have yourself a wonderful weekend. I know it's

593
00:36:33,280 --> 00:36:36,039
a holiday on Monday, but we'll be here. I hope

594
00:36:36,039 --> 00:36:36,760
to see you then.

595
00:36:36,760 --> 00:36:38,360
Speaker 3: This one