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Speaker 1: Welcome to another episode of the Chicks on the Right

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podcast with our friend and sponsor of the show, Zach

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Abraham from Bulwark Capital Management. Zach, there is a lot

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going on. I don't know if you've realized how busy

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things are, but in particular in light of the debate

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that we just had recently, there's a lot of chitter

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chatter about Trump and his plans for tariffs, which of

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course Democrats are saying that's going to raise prices for everyone,

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like they care about that. All of a sudden, we

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want to know your take on the tariffs, and we

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also want to find out what you think about all

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these strikes, the port strikes.

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Speaker 2: Yeah, you know, my thoughts on the tariffs aren't and

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I took some heat on this one. So my thoughts

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on the tariffs aren't that different from the first round

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of tariff Trump did when he was in office, which

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is everybody throws a fit because in economics classes we're

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taught that tariffs are bad, right, and they are to

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a certain extent, meaning if you have two countries trading

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with each other and one slaps on tariffs, first of all,

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that cost gets put directly onto the shoulders of the consumer, right,

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and then the other country is going to answer with

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tariffs and you get a trade war going and it's

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not beneficial to anybody. Okay, But here's the part they

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always left They always they always left out, and they

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always leave out they're acting as if we're doing this

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on our own volition. China tariffs US. China tarifts tariffs US.

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They artificially suppress the value of their currency. They've done

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that in the past. Now they're trying to artificially inflate it.

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But they're playing all these games. When you answer back

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with a tariff, you're effectively reinstituting fair trade. So if

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they're tariffing our goods and we're not answering back.

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Speaker 3: That's idiotic. It's just it's just stupid. Now.

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Speaker 2: The other thing is, and I think that this would

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be eventually good for both countries, but China isn't looking

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for a solution that's good for both counts trees. They're

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only looking And I just wish our politicians would be

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a little bit more like that.

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Speaker 4: Right, Trump did well Trump, that's what precisely. He's like,

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they're punching us, we got to punch back, which is yeah.

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Speaker 2: Yeah, because when you don't, all you're doing is transferring

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that money directly into the pockets the PBOC and.

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Speaker 3: The and the CCP. Typically it's ridiculous.

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Speaker 2: So the whole debate to me is a joke. Like

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they're acting as they're acting, like it's this autonomous move

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that Trump's just pulling off, and you're like, he's.

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Speaker 3: Responding in kind, that's what you should do.

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Speaker 2: And I remember the first round, everybody was going, oh,

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fair trade, what's he doing then?

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Speaker 3: And I was and I said the same thing back then.

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Speaker 2: I went, hey, guys, this is this is a step

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closer to fair trade that it just is.

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Speaker 3: That's what it is.

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Speaker 2: So the whole thing, to me, I feel like it's

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sort of a any any politician that doesn't advocate for

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tariffs on China is either economically illiterate or I've got

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to really question their motives because.

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Speaker 4: You want it from you want it from a politic,

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you want it from a friendship, you want it from

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a financial advisor, you want somebody to advocate for you. You

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know you have it back basically, well.

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Speaker 2: Yeah, and it's not like we're trying to stick it

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to the people in China.

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Speaker 3: We're answering in kind and to not do that.

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Speaker 2: So the situation you've got right now is, first of all,

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China has We've effectively been exporting our inflation to China

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and they've benefited from it, right, all the manufacturing jobs

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on top of that, and they know, they know exactly

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what they're doing. They know that they've been the biggest

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beneficiary from quote unquote globalization in any country on the

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face of the earth. And in response to that, then

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they're hitting us with tariffs in addition, Like it's just

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it's it's complete nonsense, and I would love to have

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a world where there weren't okay, but that's not really

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our call. China, China, this is the game that's kinda started,

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and to not respond in kind is stupid.

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Speaker 1: Yeah, well will that help, Like I mean, will tariffs

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help make companies do stuff here? Because this is you know,

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we've been talking to about our on our show about

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the port strikes and just how infuriating that whole situation is.

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And we showed a video the other day during our

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show of China's ports and how they operate completely automated, right,

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and like it's incredible, and it just it made us

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so mad about how entitled and greedy and just jerky,

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these long Storm especially the boss that Harold Daggett guy,

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like he's so awful and so would would tariffs, like

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do those things kind of play together where putting tariffs

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on China would ultimately help keep more more manufacturing in

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the United States because there'd be an incentive to do that,

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And then would there also then be an incentive to maybe,

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you know, not rely on these people so much, because

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how why do they want to stop progress? This is

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what I don't get about the long Storm. I get

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that they want to keep jobs, but like they're doing

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it at the expense of our entire higher country.

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Speaker 4: And see, I feel like I feel like they're doing

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it they don't care about our they just care about themselves,

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like it's a selfish motive.

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Speaker 2: Well, I mean, if you listen to the words day

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get used like will hurt you? Or you know the

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word the vernacular use, yeah, crush you. You're sitting there.

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Speaker 3: Going, who's you? Are you talking about the rest of

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your countrymen? That's right?

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Speaker 4: And you live here too, yeah?

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Speaker 2: I live here?

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Speaker 3: Yeah?

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Speaker 2: And the whole thing like, uh, the unions, the unions

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to me are are kind of one of those things

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where first of all, I think people should be able

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to should be free to form unions. I think that's

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an economic expression of freedom. I don't think that most

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of the time they're particularly useful, but there are situations

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in which they are. I think a lot of companies

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bring union formation on themselves, meaning if you treat people

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the right way, now, eventually you can get entitlement and

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all that kind of stuff. And people will push that

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direction anyway sometimes. But you know, there's several different studies

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of companies. You look the company like Lincoln Electric, Okay,

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they make small electric motors.

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Speaker 3: They've never been unionized.

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Speaker 2: And one of the reasons they've never been unionized is

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because they're every single employee that works for them. We

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actually modeled bulwork after off of that model. But every

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company that works for them a good and I'm talking

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twenty five to forty percent of their annual salary is

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based on incentive bonuses, right, And so they just tell them,

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they're like, hey, look, you can make more money this way,

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but it's going to be tied to your productivity, or

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you can get paid less and be a union and

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the people are always like, you know, no, you know

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we're good. And so in a lot of ways, this

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to me is what the liberals, especially the far left,

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have done for so long, which is they've been like

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feeding and growing this monster in a cage, and eventually

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the monster was going to get out, invite them, and

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they were going to be able to control it. And

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I think that the unions are kind of an example

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of that, right because they have kowtowed did the unions

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for so long, because it's baked in political support, it's

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baked in political funding, and they've gotten out of control.

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And it's really easy to see when a union is

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basically threatening economic terrorism.

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Speaker 3: Because that's what it is.

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Speaker 2: Yekay, Now you're not doing good to anybody. Okay, And

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now now we like and I'm not advocating for like

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any type of violent action or anything like that, but

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in a way, you're becoming a domestic enemy of the

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upplying economy. Right yeah, So now do the two interplay?

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Speaker 3: Sure?

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Speaker 2: Right? Like do But everybody's like, oh, tariffs are going

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to cause inflation. I'm like, well, where were you on

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the Inflation Reduction Act? Like, now all of a sudden

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you care about it. May by the way, mayor Pete

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put out a tweet the other day where he's like,

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you know, we passed the Inflation Reduction Act eighteen months

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ago or whatever he said, and he goes and isn't

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it unbelievable that inflation is down?

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Speaker 3: And I'm sitting there going because and you're sitting.

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Speaker 2: There going, dude, it's because you have the biggest and

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fastest interest rate increase in history, and they like it.

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If anything, the reason that inflation still has a pulse

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is because of the inflation reduction And the truth just

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doesn't matter here. Now do the tariffs? Will they increase

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inflation a little bit? Sure? Right, those prices will get

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passed on to consumers. Is what's going on in the

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port increase inflation? Yeah, if it was allowed to go on,

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it would, right. But here's the question, right. This is

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the other thing that is so infuriating to me about

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modern political discussion. You act as if there's a good

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and bad idea. Whereat we as adults understand that everything

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is a cost benefit analysis.

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Speaker 3: Every decision we make.

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Speaker 2: Is going to have a benefit and it's going to

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have a cost. If you're advocating for no tariffs on China,

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then what you are advocating for is another twenty to

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thirty year run of the complete desolation and dismantling of

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what is now referred to as the rust belt. Right,

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used to be the Bible Belt. Now it's the rustbelt.

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All the manufacturing jobs left. So what I would say

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in a scenario like that is all inflation is not made.

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Speaker 3: For instance, if.

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Speaker 2: You brought all of those jobs back, or let's say

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you brought forty percent of those jobs back, Okay, that's

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gonna be a big boon to the underlying economy.

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Speaker 3: Right, consumers are gonna have more money.

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Speaker 2: What I would argue, and I think it's really easy

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to argue this, is that any inflation that was realized

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by those tariffs would be more than made up for

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in the economic gains that you'd get. And look the

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way that we've gone about doing this, just letting China

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loot our working class and loot our manufacturing base.

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Speaker 3: It's insane.

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Speaker 2: There's no benefit from it other than it's created a

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lot more billionaires. Why because they can double their margins. Right,

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they move over, They pay slave wages in China, import

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the stuff back in to sell to our consumers. And

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it really is it's pulling the the supports out from underneath.

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What a free market capitalism or capitalist society is supposed

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to is supposed to function on, right, that you sell

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the goods in the markets in which you employ people. Yes, right,

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So there's a feedback loop there. The money you're making

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is going back to employing people. Well, what a lot

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of American corporations did is they just cut.

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Speaker 3: Out the middleman.

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Speaker 2: He said, hey, we still want to be able to

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sell to the richest consumer base in the world, the

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US consumer.

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Speaker 3: We just don't want to pay them to generate the product. Right.

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Speaker 2: And I'd look at and go, hey, we're a free society.

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That's fine, you want to do that, You're more than

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free to do it. But here's the catch.

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Speaker 3: We're going to tear it for stuff.

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Speaker 2: Right. So I was still under the illusion that the

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Democrats were the party of the working man.

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Speaker 1: And yeah, that's not true anymore.

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Speaker 2: No, this is the clearest example of it. Every blue

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collar worker in this entire country should be sitting there going, uh,

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wait a second, what.

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Speaker 3: Do they want to do?

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Speaker 4: Well, they should be, but it's like, but that narrative

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has been so ingrained in their brains. I mean, it's

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been so pounded into them that oh, the Democrats are

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the party of you, and that's not necessarily.

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Speaker 1: But they're waking up.

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Speaker 4: I think a lot of them, even the unions. I

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think a lot of the union folks are waking up

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and they're like, wait, these aren't our people, right, Like the.

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Speaker 2: Teams still haven't announced somebody for president, right, Well, they

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haven't announced anybody. They haven't announced an endorsement because they've

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announced an endorsement, right. His unions just don't like what

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the members of the union have say, which is again

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another example of unions not representing the interests of their members.

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Speaker 3: Right.

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Speaker 2: You look at a guy like Daggett that's never actually

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made anything in his entire life, but he's making nine

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hundred grand driving Betley's in.

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Speaker 4: Yachts has a yacht. Oh my god, it's infuriating.

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Speaker 3: Yeah.

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Speaker 2: So when he says that we're stopping the port to

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support work, no he's not. He's stopping the port to

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secure his bag. Right, He's stopping the port to make

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sure that he's stuck in the middle and he continues

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to get paid ten x what his average union member makes.

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If that's what he's doing, right, Yeah, this isn't an

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interest what he's also doing, especially in the age of

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AI and like mock pointed out, go look at how

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go look at hout China's running the airports. What he's

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doing is he's expediting the elimination of the unions completely.

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That's what he's really doing. And if the left can

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how does he not see that? How does he not?

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Speaker 1: I mean, because if anything, this should this should make

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companies want to automate even harder and even faster because

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they don't want to have to deal with bullshit like this.

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Speaker 3: Yeah, so I can't.

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Speaker 1: I mean, how much can they? What do you expect

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is going to happen from this? Because I do worry

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that they're demanding. It's not just the seventy seven percent

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raise they're demanding. They're saying notally no automation whatsoever, that

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has to be in the contract.

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Speaker 2: Can they?

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Speaker 1: I mean, can that happen where they actually stop progress

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just to enrich themselves.

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Speaker 4: Yeah, when everybody else in every other country across it,

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if everybody else is saying yes, the progress or they're

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already there, which is crazy.

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Speaker 2: Yeah, No, I mean it's a completely irrational position and

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the only reason, the only reason he's taking it is. Look,

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if we look around society right now, we look around

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the economy, or we just look around our government, there's

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all of these things that if you're looking through the

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lens of just normal people, that don't make sense. And

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for instance, look at the border policy right like what

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you're sitting there like you're going, wait, wait, wait a

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second kind to people. If that's kind, then why don't

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we all get rid of.

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Speaker 3: Our front doors?

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Speaker 4: Right?

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Speaker 3: We got to come up with a solution.

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Speaker 2: We got to come up with an answer to this

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that actually makes sense because all the answers we're listening

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to don't right. Well, if you understand George Soros and

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the whole free society movement that he pushes, then things

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start to fall in line. And I think the dagg

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it is kind of one of those lackeys then, like

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why are you doing something that's going to harm you?

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Because as long as these folks are in line with

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those in power at the top of the heap, they've

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been told they're going to be fine. Right, it's the

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only thing that makes sense because what they're doing isn't

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economically rational.

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Speaker 3: It doesn't make sense.

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Speaker 2: Why would we want fifteen million people that we don't

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even know who they are pouring into our country every year. Well,

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it's because if you believe that the world should resemble

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John Lennon's song no war and no religions and no God,

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then that's what you do, right. You get rid of

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sovereign lines and you create a one world government, and

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so that makes sense. People are like, oh, it's a

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conspiracy theory, and I go, no.

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Speaker 3: It's not.

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Speaker 2: Go read George Soros's website, Go read what he's after,

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Go look at how many things he funds. Yeah, you

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don't think these people are influenced by the billions of

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dollars he throws around. Absolutely they are, and that's why

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they'll make these decisions that on the surface look completely

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uneconomically rational and you're scratching your head. But if you

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put it in that context, then it makes a lot

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of sense. You're like, oh, this is all you know,

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This is all making sense here, it's all evening out

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and strategiery.

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Speaker 3: Yeah, quote rush right with all its strategicy. Same thing

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on at the ports.

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Speaker 2: It's what you are effectively doing is you are giving

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a tunnel into, or you're giving a look through into

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how potentially unnecessary those jobs are in the not too

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distant future, so you're actually jeopardizing those people.

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Speaker 1: Yeah, and it's just it's crazy. I'm sure you are

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probably spending a bunch of time on these topics on

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your own radio show. Where can people listen?

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Speaker 2: Yeah, So Know your Risk Radio podcast? Just google it

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on all the different podcasts websites we do. Our Daily

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Dots is a daily update of everything that's gone on

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economically and politically that has to do with the markets

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and the economy. And yes, is Google Know your Risk Radio.

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Know Your Risk Radio Podcast. We're pretty easy to find,

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all right.

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Speaker 4: Thank you Sack, Thanks.

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Speaker 3: Bach, thank you ladies. Fun as always.

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Speaker 2: Investment advisory services offered through Trek Financial LLC and SEC

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Registered Investment Advisor. The opinions expressed in this programmer for

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general informational purposes only and are not intended to provide

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specific advice or recommendations for any individual or on any

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specific secure Any references to performance of security so thought

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to be materially accurate and actual performance may different.

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Speaker 3: Investments involve risk and are not guaranteed. Past performance doesn't

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guarantee future results. Track twenty four three zero Week