1 00:00:24,440 --> 00:00:27,920 Speaker 1: And hello, how are you welcome to the Big Podcast 2 00:00:28,640 --> 00:00:33,359 on this Friday. Today is the first day of May. 3 00:00:33,759 --> 00:00:37,320 Happy May Day to you. We'll get into that as 4 00:00:37,399 --> 00:00:42,439 we progress today. But May first year of our Lord, 5 00:00:42,520 --> 00:00:46,159 twenty twenty six. My name is Tom Sullivan. So we 6 00:00:46,240 --> 00:00:50,640 have we have another very busy Friday, very busy day. 7 00:00:51,119 --> 00:00:53,840 We'll talk about oil and gas, we'll talk about the war. 8 00:00:55,079 --> 00:00:59,920 We've got again a lot of May Day celebrations going on, 9 00:01:00,039 --> 00:01:03,359 which I want to get into. We also have a 10 00:01:03,399 --> 00:01:07,640 little business to start off with here. Spirit Airlines is 11 00:01:07,719 --> 00:01:14,319 prepared to shut down today or tomorrow, probably tomorrow, and 12 00:01:14,359 --> 00:01:17,200 it should not come as a surprise, but a lot 13 00:01:17,200 --> 00:01:21,359 of people don't pay attention to news about the airlines 14 00:01:21,439 --> 00:01:26,359 or business news, but they have well, they've been they've 15 00:01:26,400 --> 00:01:29,079 they've been in bankruptcy before and they came out and 16 00:01:29,120 --> 00:01:33,799 they were back in bankruptcy bankruptcy now and they're just 17 00:01:33,840 --> 00:01:36,200 not making money. And then on top of that, you 18 00:01:36,319 --> 00:01:41,400 throw the they're the ultra low cost airline in the country, 19 00:01:41,959 --> 00:01:45,079 and you throw on the higher fuel prices for them, 20 00:01:45,200 --> 00:01:48,760 and it's broken their back. So they are ready to 21 00:01:48,840 --> 00:01:52,159 shut down. But the President today, I've got a number 22 00:01:52,159 --> 00:01:57,000 of clips one. He's went to the villages in Florida 23 00:01:57,079 --> 00:02:00,280 today to give a speech to them. But before he 24 00:02:00,359 --> 00:02:03,000 left the White House, he did the usual thing in 25 00:02:03,040 --> 00:02:06,400 the driveway talking to reporters and they had a lot 26 00:02:06,439 --> 00:02:10,759 of questions for him, and one was about Spirit Airlines. 27 00:02:12,919 --> 00:02:15,280 Speaker 2: Did you decide to get failing out Spirit Airline? 28 00:02:16,080 --> 00:02:18,039 Speaker 3: Well, I guess we're looking at it and we could 29 00:02:18,039 --> 00:02:19,520 do it. We'll do it, but only if it's a 30 00:02:19,520 --> 00:02:21,719 good deal. I think that they're preparing to shut down 31 00:02:21,800 --> 00:02:24,400 this weekend because they haven't gotten it. You're looking at it, 32 00:02:24,439 --> 00:02:27,120 but if we can't make a good deal, no institution's 33 00:02:27,159 --> 00:02:29,319 been able to do it. I said, I'd like to 34 00:02:29,360 --> 00:02:32,560 save the jobs, but we'll have an announcement sometime today. 35 00:02:32,599 --> 00:02:40,599 Speaker 1: We gave them, we gave them a final footbook. Christ 36 00:02:42,360 --> 00:02:44,599 all right, you heard them that they may have a 37 00:02:44,639 --> 00:02:47,479 deal for them today. They'll make an announcement today. Now 38 00:02:47,479 --> 00:02:52,120 they're saying today or tomorrow. But I'll tell you what. 39 00:02:52,360 --> 00:02:57,560 The stockholders are going to lose everything. The bondholders are 40 00:02:58,199 --> 00:03:01,840 madder than hornets, and they are trying trying to negotiate something. 41 00:03:01,879 --> 00:03:05,439 They may go to court, but they're trying to negotiate 42 00:03:05,479 --> 00:03:07,960 to try to get some money that they lent to 43 00:03:08,000 --> 00:03:11,080 the company in bonds. And as far as the other 44 00:03:11,120 --> 00:03:15,840 airlines are concerned, I think they're all basically glad to 45 00:03:15,919 --> 00:03:20,000 see them go because less capacity means that the other 46 00:03:20,120 --> 00:03:23,080 airlines get more business and can raise their fares. But 47 00:03:24,280 --> 00:03:30,240 the problem with this is from an economic standpoint. First 48 00:03:30,280 --> 00:03:34,120 of all, the government should not be involved in bailing 49 00:03:34,159 --> 00:03:38,159 out the private sector. There's plenty of airline seats out 50 00:03:38,199 --> 00:03:40,400 there you don't need. It's not like we don't have 51 00:03:40,560 --> 00:03:46,319 enough airlines. And secondly, there's a concept in economists called 52 00:03:46,639 --> 00:03:50,639 moral hazard, and the moral hazard is if you can 53 00:03:50,680 --> 00:03:57,159 get bailed out, then why bother to live by the rules? 54 00:03:57,199 --> 00:04:01,759 Why bother to be watching your expenses and staying within 55 00:04:01,840 --> 00:04:06,280 your income. And for the other airlines that are out there, 56 00:04:06,280 --> 00:04:07,840 and there's a lot of them that are sitting there 57 00:04:07,840 --> 00:04:10,240 paying a lot of fuel bills right now, but there's 58 00:04:10,240 --> 00:04:14,479 some that are they're not doing that great well, then 59 00:04:14,639 --> 00:04:17,720 why should they pay attention to their finances if the 60 00:04:17,720 --> 00:04:21,480 government's just going to bail you out. So I'm voting 61 00:04:21,560 --> 00:04:24,639 for let Spirit Airlines go. They have given it their 62 00:04:24,680 --> 00:04:27,560 best shot. They went into bankruptcy, they came out, they 63 00:04:27,639 --> 00:04:30,759 reorganized and they still could not make money. And this 64 00:04:30,959 --> 00:04:35,160 was all before the war in Iran. The war just 65 00:04:35,680 --> 00:04:40,560 complicates things even more so the jet fuel situation. We 66 00:04:40,759 --> 00:04:43,120 have enough jet fuel in this country, but there's a 67 00:04:43,120 --> 00:04:46,959 lot of countries, especially in Asia, that are running out, 68 00:04:47,439 --> 00:04:51,839 and so this is going to affect international airlines from 69 00:04:51,720 --> 00:04:55,399 the cost and not only the cost, but also the 70 00:04:55,480 --> 00:05:00,920 supply of the jet fuel. But speaking of oil and gas, 71 00:05:01,839 --> 00:05:07,240 David Goldman, whose Financial reporter was talking about that earlier today, Yeah, 72 00:05:07,279 --> 00:05:08,079 let's be clear, they. 73 00:05:07,959 --> 00:05:10,240 Speaker 4: Are high right now. Filling up a tank is about 74 00:05:10,279 --> 00:05:12,160 as fun as for you and me as watching the 75 00:05:12,199 --> 00:05:14,680 Celtics last night, I thought, not fun at all. So 76 00:05:14,920 --> 00:05:18,160 I think that, you know, it's important to just acknowledge 77 00:05:18,160 --> 00:05:20,519 that it is painful for many, many Americans to fill 78 00:05:20,519 --> 00:05:23,120 their tanks right now, as you've said, But it was 79 00:05:23,560 --> 00:05:27,800 so much higher in twenty twenty two when Russia went 80 00:05:27,839 --> 00:05:30,839 to war with Ukraine and took three million barrels of 81 00:05:30,879 --> 00:05:34,079 oil off the market. Now the Strait of Hormuz has 82 00:05:34,120 --> 00:05:38,759 taken fourteen million barrels a day off the market. And 83 00:05:38,800 --> 00:05:40,759 the other thing to keep in mind is that when 84 00:05:40,879 --> 00:05:43,920 Russia took those barrels off they actually didn't, right, They 85 00:05:44,000 --> 00:05:46,680 had their shadow fleets, and so there wasn't much of 86 00:05:46,720 --> 00:05:49,480 a change at all. So why is it that gas 87 00:05:49,519 --> 00:05:52,439 prices and oil prices aren't nearly as high as they were? 88 00:05:52,439 --> 00:05:55,959 They were five dollars in twenty twenty two. They oil 89 00:05:56,120 --> 00:05:59,560 hit one twenty two in twenty twenty two. We haven't 90 00:05:59,560 --> 00:06:02,040 really a p coach that yet. Okay, So there's three 91 00:06:02,240 --> 00:06:04,800 things that are going on here. The first thing is 92 00:06:04,839 --> 00:06:09,920 that there were eight billion barrels of oil sitting around 93 00:06:10,000 --> 00:06:13,079 the world before we went to war with a run. 94 00:06:13,360 --> 00:06:15,319 That's a lot of oil. Now not all of that 95 00:06:15,399 --> 00:06:18,199 is accessible, but jap Morgan says that almost six hundred 96 00:06:18,319 --> 00:06:21,079 million of them are, and so it's created a little 97 00:06:21,079 --> 00:06:23,480 bit of a buffer for us, so that even though 98 00:06:23,519 --> 00:06:25,040 a lot of oil is locked in the Strait of 99 00:06:25,040 --> 00:06:28,000 hor Moves, there is accessible oil. That's the first thing. 100 00:06:28,439 --> 00:06:30,240 The other thing is that there are some parts of 101 00:06:30,240 --> 00:06:33,800 the world that have literally run out of oil, right Cambodia, 102 00:06:33,879 --> 00:06:36,560 Me and Mars, some parts of Asia can't get parts 103 00:06:37,000 --> 00:06:41,040 for plastics right, and so they can't demand something that 104 00:06:41,079 --> 00:06:45,000 they literally don't have access to. That's kept a price 105 00:06:45,079 --> 00:06:46,160 cap as well, all. 106 00:06:46,120 --> 00:06:49,920 Speaker 1: Right, So the President today was talking about the price 107 00:06:49,959 --> 00:06:54,839 of oil and price of gas. And I've said it before. 108 00:06:54,879 --> 00:06:59,160 He many times talks about things that I think are 109 00:07:00,079 --> 00:07:03,279 dreams in his head, not reality, but where he would 110 00:07:03,399 --> 00:07:05,600 like things to be. And this is this is one 111 00:07:05,639 --> 00:07:05,920 of them. 112 00:07:06,120 --> 00:07:08,079 Speaker 5: The average price of the gallon of gas is now 113 00:07:08,199 --> 00:07:10,040 four dollars in this country. 114 00:07:10,120 --> 00:07:11,399 Speaker 6: And you know what, and we're not going to have 115 00:07:11,480 --> 00:07:14,240 a nuclear weapon in the hands of Iran, but the 116 00:07:14,279 --> 00:07:16,800 gas will go down as soon as the war's over. 117 00:07:16,800 --> 00:07:17,879 Speaker 7: It'll drop like a rock. 118 00:07:17,920 --> 00:07:20,120 Speaker 6: There's so much other it's all over the place, sitting 119 00:07:20,120 --> 00:07:22,160 all over the oceans of. 120 00:07:22,160 --> 00:07:25,120 Speaker 2: The world, and it'll be it'll go down. 121 00:07:25,240 --> 00:07:29,839 Speaker 6: But what won't happen is if Iran had a nuclear 122 00:07:29,839 --> 00:07:33,240 weapon and use it, then the whole world is a 123 00:07:33,279 --> 00:07:33,959 different place. 124 00:07:34,800 --> 00:07:39,319 Speaker 1: Well, very very good point that he makes. Oil. The 125 00:07:39,360 --> 00:07:41,199 only argument I have is that I don't know if 126 00:07:41,199 --> 00:07:43,360 it'll drop like a rock that he said, but it 127 00:07:43,399 --> 00:07:47,680 will go down. I don't know. There's an infrastructure damage 128 00:07:47,680 --> 00:07:50,920 in the oil fields and other countries and things like that. 129 00:07:51,600 --> 00:07:53,279 It will take a while, I think, to get back 130 00:07:53,319 --> 00:07:55,279 to where it was prior to the war. But it 131 00:07:55,360 --> 00:07:59,199 will go down, which will make people happy that any 132 00:07:59,240 --> 00:08:01,600 price going down would be better than what it is today. 133 00:08:01,639 --> 00:08:05,759 And prices today, let me look at the Yeah, the 134 00:08:05,959 --> 00:08:09,639 average across the country today for regular the cheap stuff 135 00:08:10,240 --> 00:08:14,759 four dollars and thirty nine cents. That's up nine cents 136 00:08:14,759 --> 00:08:20,680 from yesterday. Diesel five dollars fifty seven cents. That's up 137 00:08:20,720 --> 00:08:28,519 seven cents in one day. Washington, Oregon, Nevada, and Hawaii 138 00:08:28,639 --> 00:08:36,759 are all over five dollars. California is now over six dollars. Yeah, 139 00:08:36,799 --> 00:08:41,519 they're the only one. Six six is the average in California. 140 00:08:42,320 --> 00:08:45,399 The highest price in California is again if you go 141 00:08:46,039 --> 00:08:50,799 to Yosemite, beautiful place to visit, but just load up 142 00:08:50,840 --> 00:08:55,080 your wallet six dollars and ninety eight cents in the 143 00:08:55,080 --> 00:08:58,480 county where Yosemite is located, six ninety eight. Call it 144 00:08:58,519 --> 00:09:02,879 seven bucks. And if you're flying into San Francisco, it's 145 00:09:02,919 --> 00:09:06,440 six dollars and twenty six cents. The average around the 146 00:09:06,519 --> 00:09:11,240 San Francisco airport. Actually LA is cheaper, but the most 147 00:09:11,279 --> 00:09:17,279 expensive is actually in northern California. Patrick Dahan is the 148 00:09:17,360 --> 00:09:19,919 guy from Gas Buddy of the Triple A group to 149 00:09:20,000 --> 00:09:23,360 keep track of gas prices. He knows gas prices inside 150 00:09:23,360 --> 00:09:25,960 and out. This is what he had to say about it. 151 00:09:26,120 --> 00:09:28,679 Speaker 5: Okay, not so much. I do think that the increase 152 00:09:28,679 --> 00:09:30,840 of will continue, thankfully, not at the pace in the 153 00:09:30,919 --> 00:09:33,440 last week. You mentioned your home state of Indiana. Some 154 00:09:33,519 --> 00:09:38,039 exceptional refining issues added to the extension of the blockade 155 00:09:38,039 --> 00:09:40,399 of the Strait of Hormuz, which set oil prices out 156 00:09:40,480 --> 00:09:43,639 significantly earlier this week. That's why the majority of Americans 157 00:09:43,679 --> 00:09:46,639 are paying more. Great Lake States got a bit of 158 00:09:46,639 --> 00:09:49,879 an enhancement from refinery snags that developed over the weekend. 159 00:09:50,000 --> 00:09:52,759 That is why all of those states in the Great 160 00:09:52,799 --> 00:09:56,799 Lakes from Michigan to Indiana, Ohio, Illinois, Wisconsin experiencing a 161 00:09:56,799 --> 00:10:00,279 bit of sticker shock with prices that literally jumped a 162 00:10:00,399 --> 00:10:03,759 dollar a gallon in a six hour time period. So 163 00:10:04,039 --> 00:10:06,840 that is more focused on refining issues, which can happen 164 00:10:06,840 --> 00:10:09,159 this time of year. But for the majority of us, 165 00:10:09,159 --> 00:10:12,360 we're all feeling the gut punch from the extension. The 166 00:10:12,360 --> 00:10:15,919 President talking about extending the blockade of the strain offore moves. 167 00:10:16,120 --> 00:10:19,840 We've already lost a billion barrels of oil due to 168 00:10:19,879 --> 00:10:24,120 the shutdown, and now US exports of oil and products 169 00:10:24,360 --> 00:10:29,399 are also hitting new records as countries start buying our oil, gasoline, diesel, 170 00:10:29,440 --> 00:10:32,399 and jet fuel. The EIA reporting in the last week 171 00:10:32,399 --> 00:10:36,080 that nearly one hundred million barrels of oil products left 172 00:10:36,240 --> 00:10:38,679 US shores in the last week. That is going to 173 00:10:38,679 --> 00:10:41,519 put more upward pressure on our prices in the weeks ahead. 174 00:10:41,799 --> 00:10:43,799 Speaker 1: Yeah, you heard that right. He says there's going to 175 00:10:43,879 --> 00:10:47,159 be more pressure on oil prices and gas prices going 176 00:10:47,240 --> 00:10:50,159 up in the weeks ahead. Here's what else he said. 177 00:10:50,559 --> 00:10:53,679 Speaker 5: Well, can't be understated, especially as farmers are getting out 178 00:10:53,759 --> 00:10:57,519 to plant their crops ahead of the season in the 179 00:10:57,559 --> 00:11:00,240 next couple of weeks. And as you mentioned, diesel now 180 00:11:00,279 --> 00:11:03,200 on the cusp of hitting six dollars, and many of 181 00:11:03,240 --> 00:11:10,480 those very significant agriculture states from Iowa to Kansas, Nebraska, Indiana, Illinois, 182 00:11:10,720 --> 00:11:13,240 all of the worst potential time. Not that there's any 183 00:11:13,279 --> 00:11:16,799 good time for such a surgeon prices, but the wholesale 184 00:11:16,879 --> 00:11:21,639 costs of diesel on Wednesday alone soared seventy three cents 185 00:11:21,639 --> 00:11:25,519 a gallon for those states, indicative of major refining issues 186 00:11:25,759 --> 00:11:28,279 in the Great Lakes region. Now, I'm hopeful that those 187 00:11:28,320 --> 00:11:31,320 refinery issues will be worked out here over the next week. 188 00:11:31,600 --> 00:11:33,799 The national average may eventually see a little bit of 189 00:11:33,840 --> 00:11:36,799 relief at least from that angle. But my worry is, 190 00:11:36,960 --> 00:11:39,519 as long as the Strait of Ramouse continues to be closed, 191 00:11:39,840 --> 00:11:43,480 oil prices are likely to face continued upward pressure. If 192 00:11:43,480 --> 00:11:46,759 we don't see reopening soon, it's possible that by Memorial 193 00:11:46,840 --> 00:11:50,720 Day or maybe July four, gasoline prices nationally could be 194 00:11:50,799 --> 00:11:52,320 getting close to the five dollars mark. 195 00:11:52,879 --> 00:11:55,399 Speaker 1: Yeah, so we keep talking about oil and gas prices 196 00:11:55,399 --> 00:11:59,000 going up from here, and especially for those of you 197 00:11:59,039 --> 00:12:03,840 in the Great Lakes ere, it's refinery issues. You've got 198 00:12:03,840 --> 00:12:08,320 some major refinery problems that supply the Great Lakes States 199 00:12:08,399 --> 00:12:11,440 and they are seen. These are that seventy three cent 200 00:12:11,600 --> 00:12:16,360 increase in diesel in one day. So keep your fingers 201 00:12:16,360 --> 00:12:19,840 crossed that we can get this thing solved as soon 202 00:12:19,879 --> 00:12:24,279 as possible. So how is that war going? 203 00:12:25,799 --> 00:12:26,039 Speaker 3: Well? 204 00:12:26,120 --> 00:12:28,879 Speaker 1: Is it a war? Because today is also the sixtieth 205 00:12:29,000 --> 00:12:33,080 day and the War Powers Act says that the president 206 00:12:33,120 --> 00:12:36,000 can do basically whatever he wants to do with the military, 207 00:12:36,080 --> 00:12:38,600 but no longer than sixty days. He's got to go 208 00:12:38,639 --> 00:12:43,000 to Congress within sixty days and say, hey, I need 209 00:12:43,039 --> 00:12:46,399 you to bless this thing. And of course there's a 210 00:12:46,440 --> 00:12:48,840 split in Congress. A lot of the Democrats are saying, 211 00:12:48,879 --> 00:12:53,480 no way, but it's sixty days, and the President is saying, 212 00:12:53,840 --> 00:12:57,360 wait a minute, the cease fire part did not count 213 00:12:57,399 --> 00:13:00,399 towards the sixty days. And by the way, there are 214 00:13:00,440 --> 00:13:06,080 no military activities going on right now, so the sixty 215 00:13:06,159 --> 00:13:09,960 days doesn't apply today. So they're going to go through 216 00:13:10,000 --> 00:13:14,480 the semantics on that. General Jack Keene, this is his view. 217 00:13:15,879 --> 00:13:18,159 Speaker 8: Well, first of all, I mean, where are we right now? 218 00:13:18,360 --> 00:13:20,320 You know, so the American people on the stand, We've 219 00:13:20,360 --> 00:13:24,080 been three plus weeks into an attempt to negotiate after 220 00:13:24,120 --> 00:13:28,919 the Iranians shut down the straits. Your administration believe that 221 00:13:29,000 --> 00:13:32,080 there would be an opportunity here for negotiations. I think 222 00:13:32,120 --> 00:13:34,840 the Iranians put some feelers out there. They convinced our 223 00:13:34,879 --> 00:13:39,879 negotiators that they clearly was some realistic possibilities here, and 224 00:13:39,960 --> 00:13:42,559 none of that turned out to be the case, because 225 00:13:42,559 --> 00:13:45,720 the hard liners in charge are not about to present 226 00:13:45,799 --> 00:13:48,919 the President Trump a deal that he's willing to accept. 227 00:13:49,120 --> 00:13:52,200 That's number one. Number two, he's not going to make 228 00:13:52,240 --> 00:13:55,279 a bad deal himself. So we have a stalemate here. 229 00:13:55,320 --> 00:13:57,440 They own the straits of a mouse and we have 230 00:13:57,519 --> 00:14:00,799 shut down all their exports with the blockade, so we 231 00:14:00,840 --> 00:14:05,200 could continue that, and because the blockade is definitely effective 232 00:14:05,600 --> 00:14:08,039 and we can make a huge list of everything that's 233 00:14:08,039 --> 00:14:11,200 happening to the Iranians in terms of the economic peril 234 00:14:11,679 --> 00:14:14,720 and the suffering is about to take place. But they 235 00:14:14,720 --> 00:14:19,000 have to again recognize who are we really dealing with here. 236 00:14:19,679 --> 00:14:22,159 The guys running the regime, all they care about is 237 00:14:22,200 --> 00:14:25,240 staying in power. They don't care about their people. They've 238 00:14:25,279 --> 00:14:28,799 demonstrated that time and time again in terms of their 239 00:14:28,960 --> 00:14:32,480 economic peril that they put them in themselves and also 240 00:14:32,600 --> 00:14:36,120 killing them to make certain they stay in power, so they, 241 00:14:36,559 --> 00:14:39,279 in their minds, can outlast us in a sense that 242 00:14:39,399 --> 00:14:42,960 political pressure getting closer to the midterms, economic pressure with 243 00:14:43,039 --> 00:14:46,879 gas prices on the administration. They believe, even though we 244 00:14:46,919 --> 00:14:50,080 have the economic blockade, at some point we will end 245 00:14:50,080 --> 00:14:52,840 the war, stop everything, or make a deal with them 246 00:14:53,360 --> 00:14:58,159 that meets some of their objectives. The other alternative was 247 00:14:58,200 --> 00:15:02,159 to recognize that they are steadfast than that, and they 248 00:15:02,200 --> 00:15:06,000 will certainly don't care about their people suffering. The people 249 00:15:06,000 --> 00:15:07,720 that think this is going to cause a collapse and 250 00:15:07,720 --> 00:15:10,600 they're going to make a deal, I think they're underestimating 251 00:15:10,600 --> 00:15:14,279 who these guys really are, so the reality is, then 252 00:15:14,279 --> 00:15:17,480 what else are our options? Well, I think option one 253 00:15:17,600 --> 00:15:20,679 is return and finish what we started. We spend three 254 00:15:20,720 --> 00:15:23,039 weeks here trying to work something out with these guys. 255 00:15:23,960 --> 00:15:27,240 We have assigned objectives to sen come soda is Israel. 256 00:15:28,320 --> 00:15:31,320 We are two weeks short of accomplishing that. Let's go 257 00:15:31,399 --> 00:15:34,759 finish that once and for all. Complete that mission that 258 00:15:34,799 --> 00:15:37,080 we've given to them. And we can go through a 259 00:15:37,120 --> 00:15:39,559 list of targets. But there's leadership targets out there, there's 260 00:15:39,559 --> 00:15:42,639 politic missiles out there, there's the remnants of the nuclear 261 00:15:42,679 --> 00:15:46,360 program that's out there, there's drone stories that's out there, 262 00:15:46,399 --> 00:15:50,759 and energy infrastructure, etc. There's plenty of targets that we 263 00:15:50,799 --> 00:15:53,080 have assigned that we want to finish there. We have 264 00:15:53,120 --> 00:15:55,639 twice the amount of combat power to do that from 265 00:15:55,720 --> 00:15:59,320 when we started, and the Israeli is a flush foot munitions. Also, 266 00:16:00,039 --> 00:16:01,879 we do about the straits of Moves. We can't leave 267 00:16:01,919 --> 00:16:04,799 them in Iranian's hands. They believe now they own it. 268 00:16:05,120 --> 00:16:08,639 We have to militarily force that to be cleared and 269 00:16:08,799 --> 00:16:12,080 secured and open, and we have the military capability to 270 00:16:12,120 --> 00:16:14,960 do that. Another option, what do we do about car gallon? 271 00:16:15,679 --> 00:16:19,279 Car gallon is blocked right now by our blockade. An 272 00:16:19,279 --> 00:16:22,799 option when we finish military operations, or maybe even start 273 00:16:22,879 --> 00:16:26,840 with military operations. It's an option the President has certainly 274 00:16:27,279 --> 00:16:31,320 and likely was discussed. We could destroy it, and that 275 00:16:31,399 --> 00:16:34,639 would force an eventual economic collapse in the regime. There's 276 00:16:34,639 --> 00:16:37,919 no doubt about that. They don't have much alternatives because 277 00:16:38,440 --> 00:16:41,399 literally eighty percent of their revenue comes from that distribution 278 00:16:41,440 --> 00:16:43,879 of oil itself, right out of that one place. So 279 00:16:44,000 --> 00:16:48,080 those military options went through discussions last week, and the 280 00:16:48,159 --> 00:16:51,440 President has those decisions to make. I do think we'll 281 00:16:51,440 --> 00:16:55,679 probably move on and do something here other than the blockade, 282 00:16:56,000 --> 00:16:59,679 because the blockade in of itself I don't believe is 283 00:16:59,679 --> 00:17:02,559 going to any concessions out of these people, given who 284 00:17:02,559 --> 00:17:03,320 they really. 285 00:17:03,080 --> 00:17:04,839 Speaker 1: Are, all right, So we're going to move on and 286 00:17:04,880 --> 00:17:10,559 do something. The Senate had a classified briefing behind closed 287 00:17:10,559 --> 00:17:16,680 doors yesterday last night. Senator Richard Blumenthal. I'm not a fan, 288 00:17:17,079 --> 00:17:20,799 but he came out it basically spilled some of the 289 00:17:20,799 --> 00:17:24,920 beans from the classified hearing. But you can gather that 290 00:17:25,000 --> 00:17:27,079 they're well, I'll let him talk. 291 00:17:27,319 --> 00:17:31,640 Speaker 9: I do have the impression from some of the briefings 292 00:17:31,640 --> 00:17:35,279 that I have received, as well as other sources that 293 00:17:35,880 --> 00:17:40,839 an imminent military strike is very much on the table. 294 00:17:41,200 --> 00:17:45,400 I can't be more specific because I received at least 295 00:17:45,440 --> 00:17:48,279 one of these briefings, several of them in classified settings. 296 00:17:48,279 --> 00:17:53,319 But I'm not saying with any certainty as to when 297 00:17:53,359 --> 00:17:56,880 it would happen, but very much on the table as 298 00:17:57,079 --> 00:17:58,319 a potential plant. 299 00:17:58,799 --> 00:18:01,279 Speaker 1: He spilled some of the beans saying they're planning to 300 00:18:01,279 --> 00:18:06,079 do some sort of military strike back to the President. 301 00:18:06,119 --> 00:18:08,839 As he was in the driveway leaving for Florida today, 302 00:18:09,400 --> 00:18:12,880 he commented on a couple different comments about this. 303 00:18:13,200 --> 00:18:17,720 Speaker 3: Oh, they're very, very confused by what's happened because essentially 304 00:18:17,839 --> 00:18:20,759 most of their military has been wiped out. But we 305 00:18:21,000 --> 00:18:23,720 just had a conversation with a rant. Let's see what happens. 306 00:18:23,720 --> 00:18:26,839 But I would say that I am not happy. 307 00:18:28,799 --> 00:18:31,440 Speaker 1: And that's the key point is that Iran apparently put 308 00:18:31,519 --> 00:18:34,599 some new deal on the table, and you heard what 309 00:18:34,680 --> 00:18:37,920 the President's reaction was is he's not happy with it. 310 00:18:38,279 --> 00:18:40,960 So he was also asked about are you going to 311 00:18:41,039 --> 00:18:43,359 do a military attack yesterday? 312 00:18:43,680 --> 00:18:47,160 Speaker 5: But's he breeching you on a dim print approach? 313 00:18:47,319 --> 00:18:48,559 Speaker 2: Options? What kind of options? 314 00:18:48,559 --> 00:18:50,119 Speaker 5: How would it look web options? 315 00:18:50,200 --> 00:18:52,079 Speaker 3: I mean, do we want to go and just blast 316 00:18:52,119 --> 00:18:54,880 the hell out of him and finish him forever. Or 317 00:18:54,920 --> 00:18:56,759 do we want to try and make a deal and 318 00:18:56,880 --> 00:18:57,880 me those are the optics. 319 00:18:57,920 --> 00:18:59,559 Speaker 5: Do you want to go blast the hell out of them? 320 00:18:59,559 --> 00:19:02,839 Speaker 3: I burn Iver on a human basis. 321 00:19:02,839 --> 00:19:04,440 Speaker 2: I prefer that for TESSI up. 322 00:19:04,680 --> 00:19:07,119 Speaker 3: Do we want to go in there heavy and just 323 00:19:07,519 --> 00:19:10,680 plast them away, or do we want to do something? 324 00:19:11,480 --> 00:19:15,559 They're very disjointed Wnership, as you can understand, Peter're very disjointed. 325 00:19:15,599 --> 00:19:20,200 I mean they h They're not getting along with each other, 326 00:19:20,839 --> 00:19:23,480 and it puts us in a bad position. One group 327 00:19:23,720 --> 00:19:26,039 wants to make a certain deal. The other group wants 328 00:19:26,079 --> 00:19:29,160 to make a certain deal, including the hard liners. The 329 00:19:29,200 --> 00:19:31,920 hardliners want to make a deal too. Why wouldn't they 330 00:19:32,279 --> 00:19:34,839 They have no navy, they have no air forces, they 331 00:19:34,880 --> 00:19:38,640 have no anti aircraft, they have they have no nothing And. 332 00:19:42,319 --> 00:19:45,519 Speaker 1: All right, so he's got the opera from Iran that 333 00:19:45,559 --> 00:19:48,559 he's not happy with. He had the briefing by the 334 00:19:48,599 --> 00:19:53,960 military h yesterday and that's on the table and that 335 00:19:54,160 --> 00:19:56,960 he's not going to say back. The reporter asked him, said, 336 00:19:56,960 --> 00:19:59,559 well what do you what are you going to attack them? 337 00:19:59,799 --> 00:20:04,000 And these is why would I tell you? So he's 338 00:20:04,039 --> 00:20:06,720 not going to spill the beans on that. Joe Bisino, 339 00:20:06,759 --> 00:20:10,000 who used to be a big Pentagon official, this is 340 00:20:10,039 --> 00:20:11,000 what his thoughts are. 341 00:20:11,240 --> 00:20:15,559 Speaker 10: Well, I think we resume the military destruction here. I 342 00:20:15,559 --> 00:20:18,880 think what you've got is you're laying two measures of 343 00:20:18,920 --> 00:20:21,400 pressure on top of each other. You got the military pressure, 344 00:20:21,759 --> 00:20:23,480 and then on top of that you got the economic 345 00:20:23,559 --> 00:20:27,599 destruction really here imposed by the blockade. You know, the 346 00:20:27,599 --> 00:20:31,319 military component of this has in many ways already been one. 347 00:20:31,880 --> 00:20:37,000 But we can continue the strikes on infrastructure, on bridges, 348 00:20:37,480 --> 00:20:41,039 on oil facilities, on commanded control nodes, you know, continue 349 00:20:41,079 --> 00:20:45,920 those strikes, and then really just behind that, continue the 350 00:20:45,960 --> 00:20:50,480 economic stranglehold we've got on top of iron and all 351 00:20:50,559 --> 00:20:53,279 those pressures. The idea is that we'll bring them back 352 00:20:53,319 --> 00:20:55,319 to a negotiation that we can live with. 353 00:20:55,519 --> 00:20:58,000 Speaker 1: I don't know about bringing them back to negotiations. I 354 00:20:58,039 --> 00:21:01,599 still say you've got to get rid of this group there. 355 00:21:01,680 --> 00:21:07,240 They're hardliners and they are stuck in their theological beliefs. 356 00:21:07,559 --> 00:21:12,119 They're not going to negotiate. So what do you do. 357 00:21:12,160 --> 00:21:14,599 You do what we've done in every war is you 358 00:21:14,680 --> 00:21:18,160 go in and you take over. You arrest the former 359 00:21:18,240 --> 00:21:22,880 leaders of the country and let the people choose somebody new. 360 00:21:23,359 --> 00:21:27,880 Gordon Solon was a former ambassador from the United States 361 00:21:27,920 --> 00:21:31,359 to the European Union, and this is his view. 362 00:21:31,480 --> 00:21:34,680 Speaker 11: This is all rope a dope lo who's the dope, 363 00:21:34,799 --> 00:21:40,119 who's the dopware, who's the dope? The Iranians think we're 364 00:21:40,160 --> 00:21:42,480 the dope, and we're not the dope. What's been going 365 00:21:42,519 --> 00:21:46,160 on in the last few weeks is giving our men 366 00:21:46,240 --> 00:21:51,319 and women a good rest and rearmament. And I think 367 00:21:51,359 --> 00:21:54,640 what you're going to see is another series of strikes 368 00:21:55,119 --> 00:21:59,559 and perhaps another round of leadership decapitations, which is badly 369 00:21:59,640 --> 00:22:04,400 needed in order to bring the Iranians finally to their knees. Look, 370 00:22:04,680 --> 00:22:07,960 we're not trying to tell the Iranians how to run 371 00:22:08,000 --> 00:22:12,599 their society, and that's very well proven in Venezuela. We're 372 00:22:12,599 --> 00:22:16,400 putting up with the kind of society that we loathe 373 00:22:16,480 --> 00:22:21,279 in Venezuela. But they're not trying to impose their will externally, 374 00:22:21,640 --> 00:22:24,359 which is what the Iranians are trying to do. If 375 00:22:24,400 --> 00:22:27,319 the Iranians would leave the Israelis alone, if they would 376 00:22:27,400 --> 00:22:32,599 quit sponsoring Hamas the houthis Hesbola, if they want to 377 00:22:32,680 --> 00:22:37,880 run a fundamentalist, clerical society. That's fine as long as 378 00:22:37,920 --> 00:22:41,599 it doesn't leave their borders. And as soon as it 379 00:22:41,640 --> 00:22:45,000 starts to leave their borders, that's when the US, Israel, 380 00:22:45,160 --> 00:22:47,880 and frankly the rest of the world have an interest 381 00:22:48,000 --> 00:22:49,640 in how things go in the Middle East. 382 00:22:49,839 --> 00:22:50,519 Speaker 2: That's sure we are. 383 00:22:51,240 --> 00:22:55,160 Speaker 1: It sounds like more than probably three quarters of the 384 00:22:55,160 --> 00:22:57,279 people I just played for you were thinking that it's 385 00:22:57,319 --> 00:23:00,759 time to use the military again and shut off. I mean, 386 00:23:01,039 --> 00:23:06,279 we did seventy some percent of the military checklist, and 387 00:23:06,319 --> 00:23:09,160 they still have more to go. General Keen is itching 388 00:23:09,200 --> 00:23:11,839 to go ahead and finish that list off, and it 389 00:23:12,119 --> 00:23:18,039 includes targeting lots of important things that run the government 390 00:23:18,079 --> 00:23:21,640 of Iran, including targeting their leaders. So some of these 391 00:23:21,720 --> 00:23:25,640 leaders that are negotiating may not be with us much longer, 392 00:23:25,920 --> 00:23:30,920 all right. So that's the war. That's oil and gas prices. 393 00:23:30,920 --> 00:23:36,200 May day is today and may day is I remember 394 00:23:36,559 --> 00:23:39,200 when I was a young man that it was a 395 00:23:39,279 --> 00:23:43,759 thing that they did in Moscow in front of the Kremlin. 396 00:23:43,799 --> 00:23:46,839 They had a parade, and they had the leaders of 397 00:23:48,279 --> 00:23:50,680 the former Soviet Union would get out there and they 398 00:23:50,680 --> 00:23:54,160 would look down on the parade and they had they 399 00:23:54,240 --> 00:23:57,240 would drive by their tanks and their missiles and all 400 00:23:57,240 --> 00:24:00,720 that sort of stuff. Well, it started off as yeah, 401 00:24:00,880 --> 00:24:06,839 kind of a celebration of communism, and it transformed into 402 00:24:07,359 --> 00:24:13,359 the International Workers Day to commemorate a labor violent crackdown 403 00:24:13,400 --> 00:24:17,920 in Chicago back in the eighteen hundreds. And today it's 404 00:24:17,960 --> 00:24:20,920 supposed to be a labor solidarity day, but it's not. 405 00:24:21,960 --> 00:24:25,880 It's turned into a protest day, and there are groups 406 00:24:26,160 --> 00:24:29,960 that are behind the protests that are going on around 407 00:24:30,000 --> 00:24:33,400 the country today. It's come here to the US and 408 00:24:33,519 --> 00:24:39,079 in Chicago in particular, it's in really bad shape. There 409 00:24:39,160 --> 00:24:43,039 is a group that has organized and they call themselves 410 00:24:43,279 --> 00:24:50,319 Mobilized for May Day. They have six hundred far left 411 00:24:50,359 --> 00:24:54,319 extremist groups that have been that are organized. They're on 412 00:24:54,359 --> 00:24:57,279 the email list to go out and do things. Today. 413 00:24:57,920 --> 00:25:03,200 There is about three one thousand different events scheduled by 414 00:25:03,240 --> 00:25:06,759 this group Mobilized for May Day. They have a budget 415 00:25:07,359 --> 00:25:10,480 of over two billion dollars, So when you see them 416 00:25:10,480 --> 00:25:13,279 carrying their banners and their signs and all of that, 417 00:25:13,359 --> 00:25:15,920 it's all paid for. It's all taken care of. And 418 00:25:16,000 --> 00:25:21,359 it's basically people who want to see our country and 419 00:25:21,480 --> 00:25:25,519 our form of government completely demolished. They want to put 420 00:25:25,559 --> 00:25:29,720 it back together again very much under communism or socialism 421 00:25:30,079 --> 00:25:35,200 and so democrat socialist. They're all excited about today because 422 00:25:35,519 --> 00:25:39,920 it gives them something to rally around. But in Chicago 423 00:25:40,720 --> 00:25:47,319 it's particularly bad. They have the schools in Chicago basically 424 00:25:47,359 --> 00:25:52,079 are being let out so that the kids they're not 425 00:25:52,200 --> 00:25:55,720 let out to go protests. They're told where to go 426 00:25:55,880 --> 00:25:58,920 and where to protest and are given signs to take 427 00:25:59,000 --> 00:26:03,119 with them. The students are basically being not only indoctrinator, 428 00:26:03,160 --> 00:26:07,519 but also being followed. Now Brandon Johnson, who is the 429 00:26:07,599 --> 00:26:10,720 mayor of Chicago, he was a former teacher and the 430 00:26:10,759 --> 00:26:16,119 teachers' unions are really big on promoting May Day. So 431 00:26:16,240 --> 00:26:20,319 here's a little bit from the Mayor of Chicago today. 432 00:26:20,480 --> 00:26:23,359 Speaker 7: There's across the country on a May Day, not just 433 00:26:23,440 --> 00:26:25,039 with wearers, but with action. 434 00:26:25,680 --> 00:26:26,799 Speaker 5: Taking a page. 435 00:26:26,519 --> 00:26:29,799 Speaker 7: Out of our four Bearer's book, I'm houted to sign 436 00:26:29,839 --> 00:26:33,039 on to the Haymarket Declaration, a symbol of solidarity and 437 00:26:33,079 --> 00:26:36,359 a shared commitment to pursue local actions across a blaw 438 00:26:36,440 --> 00:26:39,599 set of priorities, from protecting our First Amendment rights to 439 00:26:39,640 --> 00:26:43,079 building safer and welcoming communities. And I look forward to 440 00:26:43,160 --> 00:26:45,839 commemorating May Day with the people of Chicago. 441 00:26:46,519 --> 00:26:49,880 Speaker 1: Well, I'm a big supporter of you want to go 442 00:26:49,960 --> 00:26:52,839 protest that you're right, we have the First Amendment here. 443 00:26:53,079 --> 00:26:55,200 But here's a little more from the mayor with a 444 00:26:55,240 --> 00:26:56,359 better microphone. 445 00:26:56,640 --> 00:27:00,559 Speaker 12: We have an opportunity in this moment to pushed the 446 00:27:00,640 --> 00:27:04,839 narrative not just at the federal level, but for Chicago 447 00:27:04,920 --> 00:27:07,440 and the state of Illinois to show up on behalf 448 00:27:07,519 --> 00:27:12,079 of working people and workers raising their voices to demand 449 00:27:12,079 --> 00:27:15,960 that millionaires and billionaires and large corporations put more skin 450 00:27:16,000 --> 00:27:16,440 in the game. 451 00:27:16,880 --> 00:27:19,880 Speaker 1: That was from a zoom meeting, if you will. It 452 00:27:20,000 --> 00:27:23,200 was the mayor of Chicago, Brandon Johnson, and the new 453 00:27:23,319 --> 00:27:27,640 socialist Democrat mayor of Seattle, along with the socialist mayor 454 00:27:27,720 --> 00:27:30,720 of Portland, Oregon. And they're all on the same page 455 00:27:31,240 --> 00:27:38,400 and they're very much for this anti wealth, anti billionaires. 456 00:27:38,880 --> 00:27:41,400 I don't know if they even mentioned millionaires anymore. They're 457 00:27:41,599 --> 00:27:48,440 anti billionaires and it's all about the union movement, but 458 00:27:48,599 --> 00:27:51,839 in a much more far left way than they ever 459 00:27:51,920 --> 00:27:54,440 had before. I don't know about you, but when I 460 00:27:54,480 --> 00:27:57,880 grew up, we didn't we didn't have we didn't have 461 00:27:57,960 --> 00:28:00,359 our schools letting us out to go to pro tests. 462 00:28:00,400 --> 00:28:03,799 And things like that. But that's where we are today. 463 00:28:04,359 --> 00:28:08,359 A lot of money behind two billion dollars, behind these 464 00:28:08,400 --> 00:28:11,680 three thousand events that are going on around the country today. 465 00:28:12,359 --> 00:28:16,279 The man who ran against Brandon Johnson but lost was 466 00:28:16,319 --> 00:28:20,119 also a school teacher. His name is Paul Vallas and 467 00:28:20,160 --> 00:28:21,200 this is his reaction. 468 00:28:22,000 --> 00:28:23,720 Speaker 10: Yeah, it really is. 469 00:28:23,759 --> 00:28:26,519 Speaker 13: Look what's happened, not only in Chicago, but I think 470 00:28:26,559 --> 00:28:30,240 across the country in particularly large cities, is the unions 471 00:28:31,079 --> 00:28:34,640 aligned themselves with far left organizations in part to protect 472 00:28:35,400 --> 00:28:38,079 their monopoly over public schools. You know, the emergence of 473 00:28:38,079 --> 00:28:40,680 the charter school movement et such as a school choice movement. 474 00:28:41,200 --> 00:28:44,200 So they recoiled by finding alliances and they certainly did 475 00:28:44,200 --> 00:28:47,079 in Chicago. And this is all advancing this far left 476 00:28:47,079 --> 00:28:51,440 political agenda. The school performance in Chicago are absolutely abysmal. 477 00:28:51,519 --> 00:28:55,799 They are absolutely abysmal. And this is not the first time. 478 00:28:56,519 --> 00:28:57,880 And let me tell you what they did. The state 479 00:28:57,960 --> 00:29:02,720 actually lowered the the standards in order to boost test course, 480 00:29:02,759 --> 00:29:05,880 they couldn't and they couldn't prove instruction, so they decided 481 00:29:05,920 --> 00:29:08,960 to modify the standards. Look, the bottom line is they're 482 00:29:09,000 --> 00:29:12,599 exploiting these the children for political purposes. They've pulled kids 483 00:29:12,599 --> 00:29:16,480 out of school to protest Israel. They've mobilized kids to 484 00:29:16,880 --> 00:29:19,480 be part of the defund the police movement. There are 485 00:29:19,480 --> 00:29:23,039 no Chicago public schools. There are no Chicago police officers 486 00:29:23,359 --> 00:29:26,920 in any of the high schools now at the entrances 487 00:29:27,000 --> 00:29:31,240 to protect the schools against active shooters. So this is 488 00:29:31,279 --> 00:29:33,720 just a move of the political left. And they've and 489 00:29:34,079 --> 00:29:36,799 the unions are really a political party. They're a left 490 00:29:36,839 --> 00:29:39,079 wing political party in Chicago and other major cities. 491 00:29:39,160 --> 00:29:41,440 Speaker 1: Now the teachers Union has become a political party, There's 492 00:29:41,480 --> 00:29:44,039 no question about it. They really have a lot of 493 00:29:44,039 --> 00:29:48,240 political muscle and they use it. They support democrats, and 494 00:29:48,279 --> 00:29:50,319 the further to the left, the better it is for them. 495 00:29:50,799 --> 00:29:54,799 So this isn't just democrats, this isn't moderate democrats. This 496 00:29:54,960 --> 00:29:58,920 is far left organizing. And the thing about it is 497 00:29:58,960 --> 00:30:01,400 it's having result talk to younger people where you look 498 00:30:01,440 --> 00:30:04,720 at the polls about younger people and they think socialism 499 00:30:04,799 --> 00:30:08,680 is a much better deal than capitalism. So they're chipping 500 00:30:08,759 --> 00:30:14,640 away at capitalism, the system this country has grown on successfully, 501 00:30:15,079 --> 00:30:17,519 and they're chipping away at it and chipping away at it, 502 00:30:17,559 --> 00:30:20,920 and they want to turn us into one of these 503 00:30:21,079 --> 00:30:25,640 countries that have failed under socialism. I mean, they all 504 00:30:25,640 --> 00:30:29,279 have a little more information from Paul Vallace. 505 00:30:29,920 --> 00:30:30,480 Speaker 5: I think they do. 506 00:30:30,559 --> 00:30:34,039 Speaker 13: The school district has lost well since since I was 507 00:30:34,079 --> 00:30:39,160 school chief. They've lost one hundred and twenty six thousand students. Incidentally, 508 00:30:39,240 --> 00:30:42,240 the funding has still increased. They're spending thirty two thousand 509 00:30:42,319 --> 00:30:47,039 dollars per child in the Chicago possibles. Only barely half 510 00:30:47,119 --> 00:30:49,680 the money actually reaches the classroom. Most of it is 511 00:30:49,680 --> 00:30:51,839 diverted before it ever hits the classroom. 512 00:30:51,920 --> 00:30:54,599 Speaker 1: So Chicago may be unique, but I don't think it's 513 00:30:54,640 --> 00:30:56,640 that unique. There's a lot of studies where this is 514 00:30:56,680 --> 00:30:59,960 also going on. By the way, the proficiency the students 515 00:31:00,039 --> 00:31:04,200 in Chicago schools basically are proficient to about twenty five 516 00:31:04,240 --> 00:31:08,599 percent of them are proficient, seventy five percent cannot perform 517 00:31:08,720 --> 00:31:13,759 at grade level seventy five percent, And so they encourage 518 00:31:13,759 --> 00:31:16,640 the kids to skip school today and go out and 519 00:31:17,160 --> 00:31:22,119 hold protest signs. But they're losing students, but they're increasing 520 00:31:22,200 --> 00:31:26,480 the money they're spending on their schools. So yeah, try 521 00:31:26,480 --> 00:31:30,319 and square that into a circle. In any case, people 522 00:31:30,319 --> 00:31:33,319 are pulling their kids out, or they're moving, they're getting 523 00:31:33,359 --> 00:31:35,720 out of Chicago, or they're pulling their school, their kids 524 00:31:35,720 --> 00:31:38,240 out and putting them in private school if they can't 525 00:31:38,279 --> 00:31:40,759 afford it. The ones that are left are the ones 526 00:31:40,799 --> 00:31:44,480 that can't afford it and are stuck. So here's one 527 00:31:44,519 --> 00:31:48,359 of the parents talking about his experience in Chicago. 528 00:31:49,519 --> 00:31:53,720 Speaker 14: Yeah, it's absolutely absurd, and it really speaks to the 529 00:31:53,799 --> 00:31:57,359 distraction that the teachers Union is bringing into classrooms. This 530 00:31:57,400 --> 00:31:59,640 really amounts to a state sponsored protest at the end 531 00:31:59,640 --> 00:31:59,960 of the day. 532 00:32:00,039 --> 00:32:00,680 Speaker 2: At the end of the. 533 00:32:00,720 --> 00:32:05,519 Speaker 14: Day, tax payer funded buses and lunches are going to 534 00:32:05,559 --> 00:32:09,000 be supporting students coming from school to Union Park for 535 00:32:09,039 --> 00:32:13,319 a protest that includes extremist groups like the FRSO who 536 00:32:13,400 --> 00:32:16,519 call for the downfall and overthrow of America and for 537 00:32:16,519 --> 00:32:21,200 the Palestinian Youth Movement who are connected to multiple terrorist organizations. Meanwhile, 538 00:32:21,319 --> 00:32:26,079 the curriculum that you spoke about that NBC five uncovered, 539 00:32:26,400 --> 00:32:30,599 which came from curriculum fairs and webinars, you know, it 540 00:32:30,720 --> 00:32:36,960 called America inherently fascist and authoritarian, end upholding genocide domestically 541 00:32:37,480 --> 00:32:41,960 and internationally. So this is actually what they're trying to 542 00:32:41,960 --> 00:32:45,279 get into schools, the teachers' unions, and in those webinars 543 00:32:45,319 --> 00:32:48,880 they even refer to what's called fugitive pedagogy, which is 544 00:32:48,920 --> 00:32:52,400 to say, this is how teachers you sneak this curriculum 545 00:32:52,480 --> 00:32:58,119 into classrooms past administrators. So this really is a big problem. 546 00:32:58,480 --> 00:33:01,720 And you know they're teaching social justice instead of teaching 547 00:33:01,759 --> 00:33:04,000 them how to read and do math. You know another 548 00:33:04,079 --> 00:33:07,519 stat that I think is astounding. Over fifty schools in 549 00:33:07,640 --> 00:33:11,920 Chicago have zero proficiency, zero percent proficiency in math. 550 00:33:12,200 --> 00:33:14,960 Speaker 1: And I was saying that the overall total is twenty 551 00:33:14,960 --> 00:33:18,200 five percent of proficient, but there's four over fifty schools 552 00:33:18,279 --> 00:33:25,119 are zero. I can't believe that there isn't more done 553 00:33:25,160 --> 00:33:28,519 to try to change it. These, like I said, they're 554 00:33:28,640 --> 00:33:31,839 chipping away at the beliefs that maybe you had and 555 00:33:31,920 --> 00:33:35,359 the school system that you had growing up. So let's 556 00:33:36,119 --> 00:33:40,240 take a broader look at the country. Some statistics out 557 00:33:40,279 --> 00:33:43,519 about the economy. I didn't I don't think I mentioned 558 00:33:43,519 --> 00:33:46,200 this yesterday because we had the GDP numbers yesterday and 559 00:33:46,240 --> 00:33:50,519 they were good. But the first time jobless claims came 560 00:33:50,559 --> 00:33:55,440 out one hundred and eighty nine thousand. I haven't seen 561 00:33:55,680 --> 00:33:59,799 anything below two hundred thousand in a very years, very 562 00:34:00,039 --> 00:34:03,279 long time. So I went back first time jobless claims 563 00:34:03,359 --> 00:34:07,319 one hundred and eighty nine thousand. That's the lowest since 564 00:34:07,480 --> 00:34:14,599 nineteen sixty nine. Yes, we're talking nineteen sixty nine. So 565 00:34:15,519 --> 00:34:20,599 they're they're not firing people. That's they're keeping people. They're 566 00:34:20,639 --> 00:34:25,199 not firing, they're not hiring. Continuing jobless claims a million, 567 00:34:25,360 --> 00:34:29,519 seven eighty five. That's also I haven't seen anything that 568 00:34:29,639 --> 00:34:33,360 low in many, many months. And this is despite large 569 00:34:33,519 --> 00:34:37,719 job cuts that were announced by Meta and Nike. There's 570 00:34:37,760 --> 00:34:39,800 a bunch of them big job cuts. 571 00:34:40,239 --> 00:34:41,079 Speaker 2: So it's. 572 00:34:43,719 --> 00:34:47,079 Speaker 1: The job market looks like it is still strong. And 573 00:34:47,159 --> 00:34:50,039 this is where you take a look at It just 574 00:34:50,199 --> 00:34:52,880 adds to the question about what is the Fed going 575 00:34:52,960 --> 00:34:56,679 to do now? Again, depending upon how this whole fight 576 00:34:56,840 --> 00:35:00,559 regarding Jay Powell and Kevin Warsh and everything else happens 577 00:35:00,599 --> 00:35:05,000 regarding the Fed, the Fed. Well, Jeremy Siegel, who is 578 00:35:05,000 --> 00:35:10,840 a professor of business at the Wharton School, very prestigious school, 579 00:35:11,000 --> 00:35:15,639 very prestigious economics professor, let him talk about what he 580 00:35:15,719 --> 00:35:16,760 sees in the markets. 581 00:35:17,119 --> 00:35:21,920 Speaker 15: You see the earnings increases, I mean despite higher pump in, 582 00:35:22,039 --> 00:35:24,679 and it's going to get higher before it goes down 583 00:35:24,719 --> 00:35:27,280 because we can see those wholesale prices and the retail 584 00:35:27,280 --> 00:35:29,719 prices as you file two or three days later, So 585 00:35:29,760 --> 00:35:34,960 I maybe another thirty cents, but the degree the harm 586 00:35:35,000 --> 00:35:39,800 to consumer spending is offset by AI defense spending is 587 00:35:40,639 --> 00:35:43,559 definitely going to be going up. Also, you know, we've 588 00:35:43,559 --> 00:35:48,239 commented on the increased earnings of the energy sector. Don't 589 00:35:48,280 --> 00:35:51,800 forget we're an energy net exporter, so it's not just 590 00:35:52,199 --> 00:35:55,079 one side that we have to look at the consumer side. 591 00:35:55,119 --> 00:35:58,079 We have to look at the producer side, and because 592 00:35:58,079 --> 00:36:00,480 we're net exporters, we get a lot of benefit there. 593 00:36:00,760 --> 00:36:04,599 So there's a lot of you know, very favorable factors 594 00:36:04,639 --> 00:36:09,559 going into the market. However, take a look at what's 595 00:36:09,599 --> 00:36:13,519 going on with prices. You know, Donald Trump said I 596 00:36:13,519 --> 00:36:16,679 don't care whether Chairman Palce stays or not. 597 00:36:16,760 --> 00:36:19,480 Speaker 2: Well, he should care if he wants. 598 00:36:21,400 --> 00:36:23,159 Speaker 15: If he wants, it is ready to go down because 599 00:36:23,159 --> 00:36:24,480 I don't think he has him any more. 600 00:36:26,280 --> 00:36:28,440 Speaker 2: You know friends there on the FED that are going 601 00:36:28,519 --> 00:36:29,159 to go with him. 602 00:36:29,719 --> 00:36:32,719 Speaker 16: Yeah, so Maren's departure would be the loss of a 603 00:36:32,760 --> 00:36:37,079 major dove. And then Steve mentioned Steve mentioned Logan Hammock 604 00:36:37,119 --> 00:36:40,599 today Koshkary. I mean, the comments out of Koshkari are 605 00:36:40,639 --> 00:36:45,400 really interesting. Jeremy, I think his quote is, but looking 606 00:36:45,480 --> 00:36:48,519 at the potential for RT hikes, potentially a series of 607 00:36:48,559 --> 00:36:51,519 them could be warranted, even at the risk of further 608 00:36:51,599 --> 00:36:53,159 weakness to the labor market. 609 00:36:53,440 --> 00:36:56,360 Speaker 2: Wow, Yeah, I don't think any I don't he. 610 00:36:56,719 --> 00:36:59,519 Speaker 15: I haven't heard any FED governor or president say something 611 00:37:00,199 --> 00:37:01,199 like that within. 612 00:37:01,000 --> 00:37:02,679 Speaker 2: The last year or so. 613 00:37:03,320 --> 00:37:05,840 Speaker 15: I mean, that definitely shows concern, you know, taking a 614 00:37:05,840 --> 00:37:09,280 look at the price trends right now with the strong employment, 615 00:37:09,400 --> 00:37:10,119 look at that. 616 00:37:10,320 --> 00:37:11,920 Speaker 2: I mean, it was unbelievable. 617 00:37:13,159 --> 00:37:18,639 Speaker 15: Jabos claims had a fifty year low yesterday. They're not 618 00:37:18,760 --> 00:37:24,840 laying off workers and unemployment stays low. Earnings are up, 619 00:37:25,360 --> 00:37:28,679 production is up, but prices are up. 620 00:37:28,840 --> 00:37:29,559 Speaker 2: That's not. 621 00:37:31,400 --> 00:37:34,599 Speaker 15: A recipe for the FED being into an easy mode. 622 00:37:35,000 --> 00:37:37,440 Seemed like every week that goes on, we think that 623 00:37:37,559 --> 00:37:39,679 oil is going to stay higher. You look one year 624 00:37:39,760 --> 00:37:42,480 out on oil and in seventy five to eighty, I 625 00:37:42,559 --> 00:37:44,920 mean it was fifty five to sixty before the year, 626 00:37:45,000 --> 00:37:48,400 So one year out we're up twenty twenty five percent. 627 00:37:48,760 --> 00:37:52,360 We talk about fertilizer, food and all that. I mean, 628 00:37:52,400 --> 00:37:54,920 I'm not talking about that necessarily. We know we're going 629 00:37:55,000 --> 00:37:57,039 to have to raise the FED fund rate one hundred 630 00:37:57,119 --> 00:38:00,360 basis points. But it seems really hard to think about 631 00:38:00,400 --> 00:38:04,760 lowering the FED funds of fate at all in these circumstances. 632 00:38:05,199 --> 00:38:08,159 Speaker 1: And Jeremy Siegel is not alone about you know, the 633 00:38:08,199 --> 00:38:11,320 President wants interest rates to be cut, he wants Kevin 634 00:38:11,360 --> 00:38:14,000 Walsh to do it. Kevin Walsh won't commit to it. 635 00:38:14,960 --> 00:38:19,519 He's very politically savvy. But Jeremy Siegel is the normal 636 00:38:19,920 --> 00:38:24,599 economics professor saying no, the Fed, if anything, they won't 637 00:38:24,639 --> 00:38:27,880 lower interest rates in this economy. They in fact, they 638 00:38:27,920 --> 00:38:33,239 may hire hike them. So stand by for that war 639 00:38:33,480 --> 00:38:37,920 if Kevin Walsh gets appointed and President Trump doesn't get 640 00:38:37,960 --> 00:38:40,880 his price cuts. Speaking of the President, by the way, 641 00:38:40,920 --> 00:38:43,360 he went to the villages today in Florida. It's a 642 00:38:43,400 --> 00:38:46,519 retirement community. It's all retired people. And you know how 643 00:38:46,559 --> 00:38:50,039 they have a backdrop on the wall behind when the 644 00:38:50,079 --> 00:38:55,280 president's speaking. Well, what they have is the Village's Florida 645 00:38:55,440 --> 00:38:59,760 their logo, and then scattered all around is no tax 646 00:38:59,880 --> 00:39:06,960 on Social Security. They keep saying that, and it's not true. 647 00:39:07,159 --> 00:39:10,960 No they have. They no tax on tips, no tax 648 00:39:11,119 --> 00:39:16,840 on overtime, but social Security seniors age sixty five and 649 00:39:17,000 --> 00:39:21,360 older can claim an additional deduction of up to six 650 00:39:21,559 --> 00:39:26,440 thousand dollars per person. But this is for people that 651 00:39:27,400 --> 00:39:31,440 it phases out once you're single, seventy five thousand, couples 652 00:39:31,440 --> 00:39:34,320 one hundred and fifty thousand. But this and it's only 653 00:39:34,320 --> 00:39:37,760 a four year deal, so this is not no tax 654 00:39:37,840 --> 00:39:41,599 on Social Security. Just I don't know why they do 655 00:39:41,639 --> 00:39:45,079 that because it's absolutely easy to check, and it's it's 656 00:39:45,119 --> 00:39:49,719 just wrong. But setting the record straight. All right, let's 657 00:39:49,719 --> 00:39:52,639 see what the record said today on Wall Street. Starting 658 00:39:52,679 --> 00:39:57,039 with the Dow it was down one hundred and fifty two, 659 00:39:57,840 --> 00:40:00,679 down to forty nine thousand and fourty nine, but the 660 00:40:01,079 --> 00:40:04,079 S and P was up twenty one, and the NASDAK 661 00:40:04,280 --> 00:40:07,320 was up two hundred and twenty two. The price of 662 00:40:07,360 --> 00:40:10,119 gold was down six dollars to four thousand and six 663 00:40:10,280 --> 00:40:15,360 twenty three, and oil it came down a little bit, 664 00:40:15,440 --> 00:40:17,719 but it's still over one hundred bucks a barrow. It's 665 00:40:17,719 --> 00:40:21,719 one hundred and two dollars and some change for one 666 00:40:21,719 --> 00:40:24,480 barrel of oil. So that's it for today. Thank you 667 00:40:24,519 --> 00:40:28,119 for coming by. I have a wonderful weekend. We'll be 668 00:40:28,159 --> 00:40:30,000 back on Monday. I hope to see you there.