Speaker 1: And hello, how are you happy Friday?
Speaker 2: To you.
Speaker 1: Friday, the twenty fifth day of July, year of our Ward,
twenty twenty five. My name is Tom Sullivan. Glad you
could come by, so man alive. We got a lot
going for a Friday isn't summer Friday is supposed to
be quiet, not today. And we've got the latest on
the Federal Reserve and their big building costs. We've got
the second day of meetings with how did she pronounce it?
Yesterday a Gallaine Maxwell, New York City being sued. Other
cities are about to feel the same because of the
fact that the federal government is going to basically ask
the courts to rule on this business about how can
you have a sanctuary city in the United States of America.
That says, basically, we're in the United States, but we're
going to ignore federal laws. So that lawsuit's coming. Russia
Gate update there on what Pulsey Gabbard's up to. So
we've got, anyway, a lot to go over today. Let's
start with, Oh, last night, I'm driving home and I
go up a major highway in New York City. It's
on the West Side Highway, and they've got pedestrian overpasses
over the top of the of the highways for people
to Basically, it borders along the Hudson Rivers, so people
that want to go to the Hudson River and there's
a bunch of parks along there and everything else. So
they have these pedestrian overpasses. And last night I'm driving
home and I come I'm coming up on one of
these overpasses and there must be I don't know, thirty
forty fifty people standing up on that overpass and they
have a big sign that stretches all the way across
the highway. Honk if you want the Epstein files, and
people were honking like crazy, and so oh yes, I honked,
of course I did. And the people up there were
waving and smiling. But that's where it is. We got
just average ordinary citizens on overpasses over highways with sons.
They had the American flag out there, they got the
whole thing. So it just shows this story isn't going
away anytime soon. So today's day two with Todd Blanche,
Deputy Attorney General, which is nobody understands this. Nobody has
ever seen this before. I've seen interviews with former DOJ officials,
with judges, with law enforcement people are credit to know.
Nobody has a deputy attorney general is a big position
with a lot of things to do when they got
a lot of things on their plate, and so he's
taken a little trip down to Tallahassee to sit down
in a room with Jelaine Matchwell. Well they went. One
report was they went five hours. One report said they
went six hours yesterday, So it was long. They sat
in a room in Tallahassee and it's the US Attorney's
office and where and they spent six hours yesterday going
over things. So we'll see what they come up with.
But the fact that they had more how many questions
did they ask? What kind of questions were they But
they also are back at it again today for day two. Yeah,
Todd Blanche is still there. So the question is are
we going to get a transcript? And it'll be interesting
to see everybody and their brothers saying you can't believe her.
If she says Donald Trump was involved, people will say,
I don't believe it. If she says Donald Trump was
not involved, there's a lot of people's I don't believe it.
She's not credible. So the question, then, is what are
the questions to who, where, what, why when questions? And
why is it taking so long? Hopefully they will release
the transcript of that, but with the way they're acting
about holding back on so much of this, I'm not sure.
So the Wall Street Journal out again today with more
exclusive reporting. And they're the ones who last week came
out with the report that said that Donald Trump's name
is in the file, and Trump sued them for ten
billion dollars. I know, it's crazy. So the Wallstreet Drunk
comes out today and says, guess what President Trump is?
Among a bunch of people, there's Wall Street billionaire Leon Black,
fashion designer Vera Wang, former New York Elle News owner
Mort Zuckerman. I know Mort, and no, I don't think
my name's in the quick never met Epstein? Who else
is on this list? And there's a whole bunch of
let's see, Oh a Screenberg, I think he passed away.
Leslie Wexner, who was Victoria's secret he owned that. Jean
Luke Brunel, he owned a modeling agency in I think
he was in Europe. Who's this guy over here? Peter Mandelsson,
a UK politician, Alan Dershowitz, and who else we got
it on this list here? Oh, Jimmy Kane, former Wall
Street Guy. Former he was the guy who ran bear
Stearns when it collapsed. And Jeffrey Epstein worked at bear
Stearns back in the nineteen seventies for a while. So
they have it grouped by groups of people. On this
birthday book in two thousand and three, they have a
category for science, another one because Epstein thought of himself
as a big guy in science, another one Brooklyn, another
one family. So he should go through the list. Let's see.
Now they got the writings and the poems, and it's
all very I think it's all very stupid. So anyway,
that's what's going on with all there's more names. Pete Sessions,
Congressman Republican from Texas, was asked about this whole Epstein thing.
Here's his take on it.
Speaker 3: Well, it's always easy when you're sitting in jail for
twenty years to be unhappy. But she was convicted, she
had her time in court, and she had that opportunity.
It seems like to me that she acts like she
wants to reset the record away from testimony that was
given that convictor in the first place, so it holds
very little water to me. I think it's pretty apparent
to me that there are that the people at Main
Justice that are looking at this recognize that there are
at least three distinctly different jurisdictional issues here, one Overseas,
the Island, number two, Miami, number three, which would be
New York, and that the putting together this compilation is
evidently being done because they want her to allow the
testimony or at least the transcripts of those to be
released to the public. Perhaps that tells a story. I
don't know whether it's one case, one jurisdiction, but they're
after the judge. They want the judge to see that
there's confirming data and information, and I'm sure they'll ask her,
do you have a problem with this information being released?
And if she can sense, then it makes it easier
for the judge to abide by the release of the data.
And that's what the Department of Justice is after the
facts of the case. The facts of the case should
be known and understood by the hundreds of hour, hundreds
of hours of day that the Department of Justice or
the FBI has within their purview. And that's the essential question.
The Department of Justice has already characterized, catalog things, They
already have things down. Did they make a client list,
I don't know. Did they make a list of the
people who were there. I'm sure the US Attorney did
fifteen years ago. And this is the conclusion that people want.
This is a heinous crime that has been hidden under
the vestiges of our system, and the system needs to know.
It's now time to come out. Definitely time to come out.
And he was talking about the three jurisdictions, So the
one in Florida has already said no, we're not going
to release the grand jury testimony. But we haven't heard
from the international system regarding the island that he had
and that we haven't heard apparently before a judge here
in New York to try to get some of that release.
But that's not that's just a fraction of what they have.
They have eons of files at the US Attorney's Office
or the DOJ. David Marcus, he is the lawyer for
Delaine Maxwell. Before he went into court this morning, he
was talking with reporters. It's kind of sketchy. He was
on the sidewalk walking along on his way into the
courthouse round two.
Speaker 4: Ready to go in for round two.
Speaker 2: We're hoping for another productive day.
Speaker 4: You know, it's Glenn has been treated unfairly for over
five years now. If you looked up scapegoat in the dictionary,
her face would be next to the definition, next to
the dictionary definition of it. So, you know, we're grateful
for this opportunity to finally be able to say what's
really happened, and that's what we're going to do yesterday
and today.
Speaker 5: Yeah, she's keeping her spirits up as much as she can.
Speaker 2: She's one of the strongest people I've ever She's been
in terrible, awful conditions for five years. We wouldn't keep
animals the way she's been kept in prison, So you know,
it's unbelievable that she can keep her spirits up as high,
and we're proud of her.
Speaker 1: Yeah, I'm not quite sure what he's talking about. They
had their chance in court five years ago to tell
their side of the story, and so they get another
slice at it apparently. But also talking about the prison,
I've heard that that's a low minimum security prison. In
other words, it's kind of a club fed. But no,
I'm sure it's not as comfortable as wherever it was
that she lived before. So that's what's going on with
Jeanne Max. Well, now the question is will we find
out what the trend? Well, we get the information on
what Todd Blanche was talking to her about for two days.
So we got that, plus we got Russia Gate. This
is Tulsa Gabbard coming out and making it very clear
that she has referred she's taken the old documents as
that were under security, and she's taken those documents, and
she has filed a criminal referral with the Department of Justice,
and in that she's accusing former President Barack Obama and
his deputies of participating in what she calls a treasonous
conspiracy to undermine the results of the twenty sixteen presidential elections.
She claimed a manufacturer a false intelligence analysis regarding Russia's
role in the election, and that this constituted a year's
long coup and treasonous conspiracy against the American people. So
Truck and Curmudgeon called me and had a very interesting
point because I was bringing up the fact yesterday that
President Obama, because of the ruling from the Supreme Court
on Donald Trump presidents have immunity for their official actions,
so nobody can prosecute Obama for this, But what about
Clapper and Susan Rice and John Brennan and go down
the list of the people that were close to Obama
and in his administration. Well, what I was told by
a lawyer was that there was a four year statute
of limitation. I looked at, tried to dig around and
look for more information. I found in some cases there's
a five year statute of limitation. But listen to what
Trucking pro mudgeon has to offer on this statute of
limitations business.
Speaker 6: Hi, Tom Trucking curmudgeon here. You know, you're talking about
statute of limitations on the Obama crime family and I
on individual charges. That may be correct, but in the
big picture, really driving home the treason word, I don't
believe there's a statute limitations on that because it is
punishable by answer on the ends of her rope.
Speaker 1: So I thought, well, that's a good point, and Tulsi
obviously used she didn't say treason participating in a treasonless conspiracy.
I'm not sure she's playing legal semantics games with all
of that. But in there she also talked about sedition,
and you get into the question about treason. Sedition all
that treason is simply the crime of betraying one's country,
specifically by levying war against your own country or giving
aid and comfort to its enemies. Well, I don't think
he levied war against the United States. They levied war
against Donald Trump as the president of the United States.
But sedition sounds like it's closer. It's related to treason.
But sedition typically involves acts that undermine the government, but
don't involve giving aid to a foreign country. So then
you get into the whole business about all of the
spooks that have done their investigation on.
Speaker 5: Russia, Russia, Russia.
Speaker 1: What most of them came away with was, no, they
weren't trying to get Donald Trump elected. He was the
beneficiary of What they really wanted was everybody thought, including
the Kremlin, that Hillary Clinton was going to win the election.
So what they were doing was they were trying to
damage Hillary Clinton, and they were trying to go after
her because they didn't like her. I don't know if
they gave two hoots about Donald Trump, but they didn't
care about Trump. They didn't think he was going to win.
I don't think he thought he was either, but in
any case, he won. And what they were doing was
putting their thumb on the scale to try to damage
Hillary so that when she became president she would not
be able to be as strong as a president, especially
dealing with Russia, as if they had not done their
work to try to undermine her. They also apparently held
back some juicy stuff that who knows if it was
true or not true, but it was held back because
they wanted to use it when she became president to
weaken her presidency. So this wasn't about going after Donald Trump.
This was about trying to damage Hillary Clinton. And what
the Democrats said was, see they were trying to get
Trump elected. No, they weren't trying to get him elected.
They were just trying to damage Hillary. And as a result,
did they get Trump elected? I don't think so, and
I don't think most of the investigators think so either.
I mean, there may have been a few people reading
Facebook posts that were posted by Saint Petersburg, but most
people were not influenced by whatever Russia was trying to do.
Most people made up their own minds about Hillary or Trump.
In twenty sixteen, if you remember it started off in
twenty sixteen. Is Jeb Bush was the guy that was
going to be the guy to beat and Hillary was
going to be the person to beat for the Dems.
And people said, I don't want another Bush. I don't
want another Clinton. So she already had a lot of
baggage and she's a terrible politician. Whether you like her
or dislike her. She did a terrible job on the
campaign trail. So that's that's what's good. A trucking Cromudge
and brought up a very good point. But I still
look at it and go, I don't know what treason is,
conspiracy is, but we'll we'll let this be sorted out
by the DOJ. And that's the other big question. Do
you think the DOJ is going to bring charges against
Barack Obama or Brennan or Clapper or any of those
other people. I will be surprised if they do, simply
because the history of Washington d C. Is they never
do those things. They never hold anybody accountable. Probably the
one that has the most legal exposure is Brennan because
of the fact that he clearly we played for you
yesterday Trey Gowdy was running that was the chair of
a committee investigating Russia USA Russia, and Brennan flat out
lied and so there's perjuring the Congress. I I'd have
to look up what the datutal limitation is on that.
But there's things that are going to maybe charge some
of the underlings with just so they can say you
can't do what you did and get away with it.
Scott Free Donald Trump was doing this doing the Driveway
news conference this morning. He's on his way. Well, he's
in Scotland by now. He's going to be there for
five days. And before he left, he did the Driveway
with all the media there and he was asked about
the Telsey Gabbert Russian investigation. Here's what the President said.
Speaker 7: Yeah, that's a terrible thing. I have great respect for
Telsey and the documents they found on President Obama. Frankly,
it was an Obama thing, but it was the people
that worked under him also working with him. And no,
it's a very very serious thing.
Speaker 1: Yeah, it is a very serious thing. The question is
will the DOJ do something about it? Andy McCarthy, former DOJ,
I'm sorry, Southern Diffect of New York prosecutor. This is
his reaction.
Speaker 8: Well, you know, look, we've already had a special counsel
look at this for four years.
Speaker 1: But putting that aside.
Speaker 8: When he was under indictment by the Biden Justice Department
Special Council, President Trump got the Florida indictment dismissed, arguing
that the Justice Department Special Council regulations are unconstitutional and
they result in unconstitutional appointments. So there's that problem. There's
the problem that President Trump also took the position that
presidents have to have, including former presidents, absolute immunity from prosecution.
Obviously that would apply to Obama too. But you know,
the most basic thing was, you only appoint a special counsel,
even assuming the regulations are constitutional, when there is a
conflict of interest between the Justice Department and whoever is
under investigation. You have that like in the Hunter Biden situation,
where it's the Biden Justice Department having to investigate the
president's son. There's no conflict of interest in the Trump
Justice Department investigating Russiagate. If they want to waste time
and go through that again, they can do that. They
don't need a special counsel for it. BONDI can just
appoint someone to do it.
Speaker 1: Yeah, so clearly Andy McCarthy thinks appointing a special council
does not work in this situation because there's no conflict
of interest. So if BONDI wanted to do what she if,
you do it, but there's really no purpose in doing that.
What else we got for you today? Oh yeah, there
were an interesting day in the Capitol because they've been
bringing in Biden staffers, top people around Joe Biden. One
of the top people that went in yesterday was a
guy by the name of Ron Klain. And Ron Klain
is a guy who has been a loyalist to Joe Biden.
He was with him for decades. He goes way back
into the Senate years. He was a Joe Biden top advisor.
He was Joe Biden's first chief of staff for the
first two years of the Biden administration. And guess what
he did. He was subpoened. And remember the doctor and
all these other people that were on the staff took
the Fifth Amendment, not Ron Klain. He went in and
answered all of their questions all day long yesterday in Congress.
Here's James Comer, the head of the Oversight Committee.
Speaker 5: Mitch Klain's being fairly responsive to our questions. There have
been tidbits we've asked specific questions. Obviously evidence emerges on
a daily basis that would suggest Joe Biden wasn't mentally
fit to be president the United States. We've had, you know,
we're about fifty to fifty with the Biden inner circle
answering questions, and I certainly appreciate the ones that are
coming in and answering questions.
Speaker 6: So far.
Speaker 5: Ron Klain has done that.
Speaker 1: Yeah, so kudos to Ron Klain, Rocanna, Democrat. He also
was a little bit surprised that Klain f answered all
the questions.
Speaker 9: There are times where he was asked about personal conversations
he had to the president, and he was forthcoming. I mean,
if he could have said it was a private matter.
So it was a I really appreciate his candor in
the comprehensive way he had answered every question.
Speaker 1: Even Jim Jordan from Ohio, the Republican, even he was amazed.
Speaker 2: I was a little surprised because everyone else did exercised
some kind of privilege. I figured he would too, being
you know, the former chief of staff.
Speaker 1: Yeah, so everybody was surprised, and in the testimony yesterday,
apparently he did say that Biden was getting more confused,
confusing names, and add some memory lapses that had gotten worse.
But Clane stuck up for Joe Biden by saying, regardless
of all that he was still competent enough to govern.
Chris Whipple, who wrote a book called Uncharted, He's been
a longtime friend of Joe Biden's, but this was his
reaction to the fact that Kline and everybody else, everybody
else took the fifth except for Ron Klain.
Speaker 6: Yeah.
Speaker 10: You know. Ron Klain is a fascinating character in this
whole story, and he's been in the doghouse with Joe
Biden and his inner circle ever since. He was devastatingly
candid to me about Joe Biden's condition and that pre
debate prep at Camp David. I wrote about it in
my book Uncharted, and it was stunning, you know. I mean,
Biden was out of it, he was disengaged, He wandered off,
sank into a lounge chair by the pool, so you know,
he was I'm sure that he was asked about all
of this. I'm sure that he confirmed every bit of it.
But the stunning thing to me, the most interesting thing
about Clain is that despite that devastating debate, which was
lights out game over, everybody knew it, Clain was still
all in on Joe Biden's nomination and reelection and somehow
thought he could beat Trump and is still stunning to
me coming from somebody as politically savvy as run claim. Yeah,
I do think so. And in fact, the mystery at
the heart of my book I'm Charted about the campaign
is the stunning extent to which Joe Biden's inner circle
became lost in a kind of fog of denial and
they just were convinced themselves. In effect, they believed what
they wanted to believe instead of their lying eyes. Even
during the debate when everything went south and Joe Biden said,
of course, you know, we finally beat Medicare, even during
the debate, his inner circle thought somehow that he had
won the debate.
Speaker 1: By the end.
Speaker 10: It was truly stunning, and it says something about breathing
the rarefied air of the West Wing.
Speaker 1: There had been many people in many administrations over decades
that have talked about the rarefied air of the West
Wing and that you lose your mind, you don't think properly.
But the other thing about ron Klain and Chris Whipple
is a pro Biden guy, but you could tell Eves
calling the shots like they were. And what happened with
ron Klain was he was the chief of staff for
the first two years of Joe Biden's term and then
he was replaced in I'm not sure why, whether on
his own desire or not. He's been like I said,
he's been with Biden for decades when he was a senator,
when he was vice president and his president, but only
for the first two years. But Joe did really wreck,
didn't really show us the problems he was having cognitively
until the second half of his administration, the last two years,
and Klane wasn't there during that period, so he said
Joe was he stuck up for Joe. He said he
was confused memory had gotten worse, but that he could
still govern. So that's what came out of so far
out of these oversight hearings. But there's more to go
on all of that. The White House is also filing
a lawsuit against New York City and specifically about the
fact that it's a sanctuary city. I mean, the legal
eaese is more detailed, but the fact that you're a
sanctuary city. How can you have a city within the
border of the United States of America that says we're
not going to follow the US government laws, federal laws.
And so it's not only New York, it's San Francisco's
Los Angeles. To go around the country and what this
is the first of many lawsuits that are going to
be coming and it's going to throw this question into
the court on whether or not you can have a
jurisdiction within the boundary of the United States refuse to
follow federal law. Here's Donald Trump at the in the
driveway before he was leaving for Scotland this morning.
Speaker 5: Was asked about it.
Speaker 11: Hey, agains, they are adam in the last states name
the cdg off Stern in Vo City, scott you're.
Speaker 12: Talking, yeah, yeah, that's DOJ going against New York. But
we're going again a lot of other places. We want
to bring safety to our cities. But that's a pretty uh,
that's going to be a pretty routine filing with other
cities to As you know, we've started numerous lawsuits with
other cities. We want to bring safety, we've got to
get the criminals out, and we're doing it in Rectord's number.
Speaker 1: So let's see how this court case goes. Because if
the court's rule in his favor, no question, they're going
to go after other cities and vice versa. If they
don't rule in his favor. Andy McCarthy again weighs in
on this business about filing a lawsuit against New York.
Speaker 8: Well, you know the battle line here that constitutional we're
speaking The states cannot be commondeared to enforce federal law,
but they can't obstruct it. So that's the line that exists.
It's the line that's often blurred. I think what the
administration can do is what it's been doing, which is
press every lever that's available to them legally, so that
what to the extent that a state or a city resists,
that that is more in the nature or seen by
the courts, is more in the nature of obstruction than
the federal government trying to illegally commandeer. But it's you know,
it's a fuzzy area, and that's why it gets litigated.
BIL Sanctuary policies didn't just sort of spontaneously appear, right.
These are progressive politicians who are elected by New Yorkers
who put them in So I may think that they're
irrational and that the federal law has to be enforced.
But it's a difficult environment for Adams, and what he's
obviously trying to do is serve two masters who are
very hard to serve. On the one hand, he wants
the immigration laws enforced so that he doesn't have crisis
conditions in the city like he had. On the other hand,
he's got an electorate that's kind of Trump hostile and
immigration enforcement hostile.
Speaker 1: So again, if this goes to court and the court's
rule in favor of the President of the White House,
then watch out. Other cities are going to be coming
after you as well. If not, I don't know what
the next step is for the federal government other than
what Andy said. It's just use a pressure from all
the other levers that the federal government has, and that
lever is primarily money. Yeah, that'll usually get everybody's attention.
So on this Friday, Financial Friday, you won't talk about
the FED because everybody's the Federal Reserve all of a
sudden is front and center. Did you know, let me
just set this up. I don't think a lot of
people know, and I don't think a lot of the
media knows this because they don't. Nobody's ever mentioned it.
I'm the only one who's ever mentioned this on any
form of media that I know of. But the Federal Reserve,
we've talked about it's independent, and it truly is independent.
It was created by Congress back in nineteen thirteen and
the only requirement that Congress gave them was they have
to report semiannually every six months. They have the humph
it's called the Humphrey Hawkins testimony that the Federal Reserve
chairman comes over on one day, talks to the House,
next day, talks to the Senate, and then goes away
and comes back and does the same thing every six months.
That's the only connection that they have. Means no, the
White House has no involvement. They are truly if the
FED is independent. And when you talk about independence, you go, yeah,
But Tom, what about the money? And the President is
trying to pressure Powell about the overspending on the remodel
of the fixing of the Federal Reserve buildings. Guess what,
and this is important. Not one dollar from the federal
government goes to the Federal Reserve Board, not a penny,
not a taxpayer dime, it is an independent bank. It
is owned by all the banks in the United States,
and they're the ones who pay the fees, and they're
the ones who buy and sell treasuries between the banks
and the Federal Reserve Bank, upon which the Federal Reserve
charges interest to the banks. That's how they make their money.
They don't get any taxpayer money. So on one hand,
everybody's having conniptions about the fact that they're way over
on their building, of their remodeling the old Federal Reserve building,
and I'm going, yeah, that doesn't look good for anybody,
especially somebody that is in the financial business, that's a banker.
How can they be watching it so bad? But on
the other hand, it's like, yeah, but it's not costing
you or me anything. It'd be kind of like going
next door to your neighbor and saying, you know, I
noticed you're doing remodeling here, but I want to talk
to you about how much you're spending on your remodeling
of your house. And you know what, your neighbor would
tell you, none of your business. And I'm surprised that
the Federal Reserve hasn't said that it's none of the
business of the White House or the Congress because it's
not taxpayer money, but it was rather embarrassing. Yesterday, the
President goes over and takes does you know, he loves
that real estate stuff. So he's got the hard hat
on and he's walking around with Jay Powell and they
come to a designated spot where the media is assembled,
and Donald Trump pulls out a piece of paper and says,
you're over by three billion dollars. And Jay Powell looked
all confused and said, what, no, no, no, you're wrong.
And of course Trump came prepared with a piece of
paper from the Federal Reserve saying they've overspent by three billion.
One of the caveats in that is the extra overspending
was for a building that they built five years ago.
But still it does bring up the question about this
is the Federal Reserve Bank. How can they be so
loosey goosey with the money? In any case, here's the
President along with Jay Palell yesterday when it was a
very awkward moment.
Speaker 7: It looks like it's about three point one billion. Who
went up a little bit or a lot, So the
two point seven is now three point one. Yeah, it
just came out.
Speaker 1: Yeah, it was a very awkward moment. Jay Powell said no, no, no, no, no,
no no, and Trump pulls out the piece of paper.
In any case, they're overspending, but it's not your money
or mine. So it doesn't look good though for the
Central Bank. Here's President Trump talking about it with the
news media in the driveway again before he was leaving
for Scotland this morning.
Speaker 12: Yeah, I think that your own well. I think we
had a very good meeting forgetting about the building that's
out of consoles, old enough, but I think we had
a very good meeting on interests. And he said to me,
and I don't know if he's going to say this
on Thursday or day every fax, but he said to
me very strongly, the country is doing well. He said, congratulations,
the country is doing really well. And I got that
to mean that I think he's going to start recommending
lower rate.
Speaker 1: Well, we'll find out. I know that. Listen. I'm with
the President. I'm on his side about this whole Unregarding
j Powell, I don't like the way he's handling it,
and I think he's making his case worse because next
Tuesday and Wednesday, the FED has another meeting Federal Open
Market Committee meeting and they will vote on what to
do about interest rates and let us know Wednesday at
around two o'clock in the afternoon Eastern time. But the
more he's putting pressure on the Federal Reserve, the more
they may dig their heels in and say, no, we're
not going to lower interest rates because he wants us to.
So they'll do it despite him. I don't know what
they're going to do. They may look around and go,
you know, maybe we do have some room to lower
interest rates. I'm with the president. They should have lowered
rates by now, but they haven't. And I agree with
his nickname of too late Powell. Powell was too late.
The Federal Reserve was too late in upping interest rates
when inflation took off back in twenty twenty one. They
could have dampened that inflation fire. They did not remember
the churchy Secretary Janet Yellen coming out and going now,
inflation is just transitory. It went up to nine and
a half percent consumer price index. It was out of control.
They did not they The fire department was called and
they didn't show up until the house was fully engulfed
in flames. And so the Powell is late the Federal
Reserve Open Market Committee is late. We played for you
yesterday some comments by Larry Lindsay, a former I just
admire him a lot. He's a great economist, but he
was a former member of the Federal Reserve Board. And
he said, what they've done is there's twelve members of
the Federal Open Market Committee, and they have chosen only
economists to be on that committee. And he said, I
think maybe we should have a banker, a business person,
some other people on there besides economists. And they all
had to be from either Harvard, Yale, Princeton, or Stamford,
and so it's a bunch of people that are all
taught the same thing in the various schools of businesses
at these universities, and they need to have somebody in
there with a different view other than these economists. So
they've done. Yeah, they're not doing a good job. They're
behind on everything. They should have lowered interest rates by now.
So Wednesday afternoon, at two o'clock in the afternoon, we
will find out what the Federal Board is going to
do this time. Wall Street's betting that using federal funds futures,
you can tell how much of their betting they don't
think they're going to drop interest rates at all. There's
another meeting in six weeks later in September, and they
think at that point there's a decent chance that they
will lower interest rates. But looking at the economy, and
this is what the President just said. Powell told him
that the economy is in good shape. The country's in
good shape economically, so they don't want to rock the
boat by changing interest rates, is what I read from that.
What the President read from that was he thinks that
the Fed is going to therefore drop interest rates. We'll
find out Wednesday. So back to today, Member George Santos,
the former congressman from Long Island, who just everything he
said was absolutely a lie. Well guess what today was
his day to enter prison. He's been off for say,
he starts his prison term today for seven years. He
was on a podcast Political Voices, and I don't know
what are we gonna do without George Santos around.
Speaker 13: Of course I'm remorse, of course I regret. Look at
what it's my own life. Do you think that I'm
not remorseful like only those who are with me in
my intimate setting on a day to day know how
much I sit back and I cry sometimes myself to
sleep of not just remorse, but of being like I repent,
like everything, Like if I could do it all over
it and it'd be so different. Not because I got caught,
because I was blinded by ambition and I did so
much stupid right in the name of what becoming a congressman.
Speaker 3: It's not even that cool.
Speaker 1: That's my favorite part of the whole thing, is to
be a congressman. And it's not even that cool. Funny. No,
he's got a lot of problems, and I wish him well.
But when he said he was blind to buy ambition, well,
ambition is good. You just have to have a little
bit of a governor on it. You can't violate laws
and make up lies and everything else to try to
pursue your ambition. Pursue your ambition with them and vigor.
But do it honestly, it's much better. You'll get a
much better dividend out of it later. What else have
we got today? CBS paramount the Federal Trade Commission said,
YEP deal is approved. So an eight I think it's
eight billion dollars is what Skydance has paid. And they
are the new owners of Paramount, which owns CBS, which
owns the production company that John Stewart works for. So
now that Coolbert is out the tour, we'll see what
happens at CBS, if they if they display anything new
and different. The problem with buying CBS, as the problem
with buying any of the networks, is that their era
I think is behind them. I really think most people,
not most. The numbers are huge now for it may
be most that you're getting your entertainment from other sources podcasts, streaming,
but not on broadcasting one to many instead, it's one
to one. When you want to tune in, you tune in.
You want to watch a movie on Netflix, you dial
that up tonight and you look at it. So no
sooner worth the deal done last night than South Park,
which I find their humor to be just weird enough
to where I like it. But they're a cartoon and
they make fun of presidents and especially Donald Trump, and
so last night it got a lot of publicity because
they showed a cartoon Donald Trump in bed with the Devil,
and it was interesting because nobody really said anything, and
the guys who do south Park basically were thumbing their
nose at CBS and saying they just signed I think
a one and a half billion dollar deal with CBS.
So we'll see what changes with not only CBS but
all the broadcast companies. NBC is spinning off a lot
of their MSNBC and CNBC and a bunch of their
other networks. So television changing rapidly right before our eyes.
We're going to get some phone calls in we got well,
we played Truck and Cromudgeon already. But again, the phone
number if you want to call it a leave a message,
phone numbers eight five, five, two, nine, five sixty six hundred.
You can find that number and all the links to
the show, to the podcast. All that's on my website,
which is Tom's dot com. Including for people or you know,
they can't figure out how to find my podcast. There's
a link on that page tomsullivan dot com that'll bring
him right to the podcast. Psy easy, peasy, let's start. Oh,
look who's here, Salty's here. Let's find out what's going
on with Salty.
Speaker 11: Hey Tom, it's Salty, just checking in, buddy. Uh ho
of cow, what a week we we've seen. We've lost
so many of our icons. Oh Moe. I don't even
know where to start. We lost Rio from the Cosby Show.
Uh we we you know, we lost uh the Ozzy
odd Born, you know, and uh, the crazy Train has
gone to it is gone forever, and and and and
then uh Chuck ban Jon, the man who blew that
that beautiful horn. It feels so good, Tom, It just
felt so good when you listen to him. And then, uh,
you know, then we lost the wholk Oh oh, the
little ulsters out there. Oh and he gave that speech
atto Republican Convention and Torette shirt off and he said,
I'm a Trump shirt anyway. Oh my gosh, Oh what
a week. We just can't lose as many in one week. Uh.
But I'm okay, I'm okay. I'm not I'm not going
back to drinking. I don't get that stuff up. But
I just do want to end on a positive note.
Oh my gosh, is the Tulcy gabber beautiful or what?
Oh my gosh, I hope she does press conference every day?
Speaker 14: Uh.
Speaker 11: And and Doc Trump said she's got thousands of pages
of documents, So that name means she's gonna be on
the TV a lot. And uh, you know, miss Saucy said,
why are you walking? Look? Look why you always go
to TV when you hear Tulca Gabbert's Lloyds. Why, I
said to miss Sophie because she's got some important information.
I got to, you know, because the world's crazy, Pat
and Pultre's out there trying to straighten it out with Trump. Anyway, Uh,
you know, I don't know what to do about that.
I guess I better take him pictures I got in
my shop or her down. Otherwise Miss Salty's gonna probably
kick me in the head. But anyway, Hey, Tom, have
a good weekend. Let's hope and pray people fingers crossed.
We don't lose no more, you know, people that's special
to us now, some of them dummies up in DC. Well,
I don't want to wish nothing bad on nobody, but
if they's just gone, that wouldn't be a bad thing.
I love you, buddy, have a good weekend.
Speaker 1: So so, what did we learn from Salty? A lot
of celebrities died, and that he's in love with Tulsa
Gabbard and he has pinups of her in his shop
and he doesn't want mississ Salty to see them. But
he's hoping that there's a lot, a lot of news
conferences with Tulca Gavert because he's got the Haughts for her.
I don't know what else we learn. All right, let's
let's wrap it with the comment line, Lady Laurie here
she is, I.
Speaker 14: Agree with the people who find the abrupt commercial breaks
to be disconcerting. You'll announce that you're going to play
a clip from a government official, and the next thing
we hear is do you have spinning hair and brittle
finger nails?
Speaker 6: Yeah?
Speaker 1: I know, I know, I know, I know, I know
I have I don't have control over that.
Speaker 6: I don't.
Speaker 1: There are just certain things you can't control. I'm trying
to work with them and see if we can iron
that out somehow. But well, do you have dunning hair
and brittle nails. I'll be surprised that they didn't put
it right here, just just plug it in right here.
But I don't I don't have control. Some computer somewhere
plugs all that sort of stuff in Wall Street. Today.
Well let's see what happened. Almost one more week of July.
But for today, the Dow Jones industrials up two hundred
and eight to forty four thousand and nineh one. Not
a record yet, but we're getting close. SMP new record up,
twenty five, NASDAK new record up fifty. Gold bouncing around
on the down side today thirty three dollars down to
thirty three thirty nine, and the price of oil bouncing
around as well, down a buck today to sixty five
dollars for one barrel of oil. Now we're having record
after record? Are we on Wall Street? I know, getting
pretty opty. Thank you for coming by. I hope you
have a wonderful weekend. We'll be back on a Monday.
I hope to see you then.
Speaker 12: Never dream