WEBVTT 1 00:00:00.480 --> 00:00:01.159 It's a nice. 2 00:00:02.839 --> 00:00:05.440 Undoing Boston's News Radio. 3 00:00:06.360 --> 00:00:11.279 We're talking about what happened on Wall Street today. Again, 4 00:00:11.800 --> 00:00:19.160 some of you may not have stock investments, but virtually 5 00:00:19.199 --> 00:00:23.760 everybody in America is expect is impacted by what happened 6 00:00:23.760 --> 00:00:26.640 on Wall Street today because if you have a pension plan, 7 00:00:28.000 --> 00:00:34.560 if your union is invested in Wall Street, it's a 8 00:00:34.600 --> 00:00:38.479 bud bath today. Okay, just no way to describe it 9 00:00:38.560 --> 00:00:41.799 in any other way. So far, all the callers this 10 00:00:41.880 --> 00:00:45.640 evening have been men, which always disappoints me. But it 11 00:00:45.679 --> 00:00:50.200 disappoints me that we don't have a female perspective on this. 12 00:00:50.200 --> 00:00:53.759 This was a rough, rough day, no matter how you 13 00:00:53.799 --> 00:00:56.359 want to how you want to look at it. The 14 00:00:56.560 --> 00:01:01.079 Dow lost eight and ninety points, down over two percent, 15 00:01:01.600 --> 00:01:04.840 Nasdaq down four percent, the S and P five hundred 16 00:01:05.079 --> 00:01:08.359 down two point seven percent. That's an average of about 17 00:01:08.400 --> 00:01:12.280 three percent, and the futures tomorrow. Look, the market might 18 00:01:12.359 --> 00:01:14.640 bounce back a little bit tomorrow, but it's not going 19 00:01:14.680 --> 00:01:19.719 to bounce back from where it landed today. Okay. The 20 00:01:20.079 --> 00:01:22.799 investors in Wall Street will call it a dead cat bounce, 21 00:01:23.280 --> 00:01:26.920 but that's that's neither here nor there. The question is 22 00:01:27.439 --> 00:01:33.400 has the administration decided to take on too many tasks simultaneously, 23 00:01:34.040 --> 00:01:36.159 and it whether you want to talk about the tariffs 24 00:01:36.239 --> 00:01:42.159 with China, Mexico, and Canada. Obviously, the Ukraine situation may 25 00:01:42.239 --> 00:01:45.159 resolve itself. I mean there are indications that that could 26 00:01:45.239 --> 00:01:50.280 resolve itself the most easily of everything, which is saying 27 00:01:50.319 --> 00:01:53.120 something in of itself. So I just have one line 28 00:01:53.159 --> 00:01:55.480 open at six one, seven, two, five, four, ten thirty. 29 00:01:56.280 --> 00:01:59.200 You do not have to be an economics major from 30 00:01:59.280 --> 00:02:02.439 Harvard to participate in the conversation. We're just looking to 31 00:02:02.439 --> 00:02:06.200 find out what you think and are you concerned and 32 00:02:06.760 --> 00:02:10.800 should the Trump administration be concerned? We played earlier and 33 00:02:10.840 --> 00:02:13.159 if I have to, I will play them again. A 34 00:02:13.240 --> 00:02:17.120 couple of soundbites from yesterday where he seemed to not 35 00:02:17.360 --> 00:02:22.159 handle the question with the ease at which it seemed 36 00:02:22.199 --> 00:02:25.639 that he was. He was caught off balance when this 37 00:02:26.120 --> 00:02:28.599 interviewer on one of the Sunday shows asked him about 38 00:02:28.680 --> 00:02:31.599 the R word. In the meantime, let's get Roland. Hey, 39 00:02:31.639 --> 00:02:33.520 going to go back to Paul and Lynn. We've had 40 00:02:33.520 --> 00:02:36.240 more pauls tonight that we normally have. Hi, Paul and Lynn, 41 00:02:36.240 --> 00:02:36.919 how are you tonight? 42 00:02:37.599 --> 00:02:38.800 Yeah, I'm doing good. 43 00:02:38.919 --> 00:02:39.120 Dan. 44 00:02:40.000 --> 00:02:45.080 I don't know much about economics, but I got a question, 45 00:02:46.719 --> 00:02:50.199 does Donald Trump have any thing to do with the 46 00:02:50.479 --> 00:02:54.479 stock market happening today? And then I'm going to comment, in. 47 00:02:54.400 --> 00:02:57.280 My opinion, it has everything to do with what happened today. 48 00:02:57.319 --> 00:03:04.479 I think the market doesn't like uncertainty, and certainly one 49 00:03:04.520 --> 00:03:06.479 of the concerns that the market is always going to 50 00:03:06.520 --> 00:03:10.960 have is when someone, particularly in his position, doesn't respond 51 00:03:11.240 --> 00:03:15.560 quickly to the even mere suggestion of a recession. He 52 00:03:16.479 --> 00:03:20.439 fumbled that question yesterday, in my opinion, and that has 53 00:03:20.479 --> 00:03:22.919 contributed what have the market been up today? I doubt it, 54 00:03:23.280 --> 00:03:26.280 but I think the market dove a lot deeper because 55 00:03:26.280 --> 00:03:28.120 of that, in my opinion. 56 00:03:30.400 --> 00:03:37.199 And if we stayed with the other administration, which is 57 00:03:37.719 --> 00:03:41.759 the worst of the you know. But I think with 58 00:03:41.879 --> 00:03:47.080 all these tariffs that he has set that's never happened 59 00:03:47.080 --> 00:03:53.319 in any president had any set before history that many tariffs. 60 00:03:53.360 --> 00:03:58.919 And I think we wanted this change, and we need 61 00:03:58.919 --> 00:04:04.599 to stand by him and not take the fall, but 62 00:04:05.120 --> 00:04:07.919 stand by and see where this is going. Because it 63 00:04:08.080 --> 00:04:11.960 is premature right now. But I think if I'm at 64 00:04:12.000 --> 00:04:18.240 market basket and I'm looking at what, uh, you know, avocados, 65 00:04:18.399 --> 00:04:22.600 I'm not going to buy them because I can't afford them. 66 00:04:23.480 --> 00:04:27.360 And that's something that I can help out with if 67 00:04:27.560 --> 00:04:30.439 you know, I can't help out much, but I can 68 00:04:30.519 --> 00:04:34.879 help out by saying I'm going to give avocados until 69 00:04:34.920 --> 00:04:37.240 the tariffs lifts it, you know. 70 00:04:37.439 --> 00:04:40.839 I mean, look, as individual consumers, we can do all 71 00:04:40.879 --> 00:04:45.439 of that. And I think that's a pretty sophisticated comment 72 00:04:45.480 --> 00:04:48.199 that you made there. If you look at a product 73 00:04:48.240 --> 00:04:52.879 that you know came from Mexico and you say, guess what, 74 00:04:53.040 --> 00:04:55.399 as long as they're going to throw some tariffs on us, 75 00:04:55.639 --> 00:04:59.680 you would hope that cooler heads would prevail. I mean, ideally, 76 00:04:59.759 --> 00:05:03.839 I agree with President Trump that what you want is 77 00:05:03.920 --> 00:05:07.959 free trade. I mean that's always been the goal of Republicans. 78 00:05:09.439 --> 00:05:13.079 Free trade. Uh, fair trade is fair trade. So that. 79 00:05:13.759 --> 00:05:19.720 But but we've we've lost me car manufacturing plans to Mexico. 80 00:05:20.879 --> 00:05:24.079 Jobs go to Mexico, and so Donald Trump is trying 81 00:05:24.079 --> 00:05:26.720 to do something to bring those jobs back, which I 82 00:05:26.759 --> 00:05:29.839 admire him for. But I just think and and there 83 00:05:29.959 --> 00:05:33.199 is going to be some discomfort, if not pain, But 84 00:05:33.319 --> 00:05:36.240 today was a pretty painful day for anybody who's invested 85 00:05:36.279 --> 00:05:39.199 in the star market, stock market and all of us are, 86 00:05:39.279 --> 00:05:43.279 whether directly or indirectly. Paul, I appreciate you call you. 87 00:05:43.279 --> 00:05:45.639 You made some really really good point there, and I 88 00:05:45.639 --> 00:05:46.360 think people. 89 00:05:46.079 --> 00:05:47.839 Should follow you. 90 00:05:47.879 --> 00:05:50.319 No, I'm serious, that was a pretty good economic point. 91 00:05:50.399 --> 00:05:53.040 We're gonna you're gonna give you an A for economics tonight, 92 00:05:53.079 --> 00:05:55.079 and I mean that seriously, that was a good one. 93 00:05:55.519 --> 00:05:59.000 People need to need to not only voted elections, but 94 00:05:59.040 --> 00:06:02.480 they also need to vote, you know, economically when you 95 00:06:02.519 --> 00:06:05.439 go somewhere. There's some items that I'm not buying. I mean, 96 00:06:05.560 --> 00:06:08.360 I know that there's been some items that have been 97 00:06:08.399 --> 00:06:13.040 pumped up by particularly items that I like. Okay, I'm 98 00:06:13.079 --> 00:06:16.680 not buying them, as simple as that, because I'm offended that, 99 00:06:17.279 --> 00:06:21.000 you know, cookies that you know, a couple of years 100 00:06:21.040 --> 00:06:24.879 ago were maybe two ninety nine are now five oh nine. 101 00:06:25.120 --> 00:06:28.839 It's like that's forty percent or maybe more, that's sixty 102 00:06:28.879 --> 00:06:33.879 seven percent. I don't care how much. That's way too 103 00:06:33.959 --> 00:06:34.920 much in my opinion. 104 00:06:35.000 --> 00:06:39.199 Wait, now, the girl Scout Cookies, I will not give up. 105 00:06:40.279 --> 00:06:42.759 Well, you know, the Girl's Scout Cookies need to keep 106 00:06:42.759 --> 00:06:45.360 their cookies in the price range too. Unless you look 107 00:06:45.399 --> 00:06:47.639 at it and say, okay, give me two boxes of 108 00:06:47.680 --> 00:06:49.480 cookies that I'm going to give you one hundred dollars 109 00:06:49.519 --> 00:06:52.360 because I want to make a charitable contribution. But I'm 110 00:06:52.399 --> 00:06:56.199 not making a charitable contribution to some corporation if they've 111 00:06:56.240 --> 00:06:58.920 increased the price of cookies forty percent, trust me on that. 112 00:06:59.040 --> 00:07:02.560 Okay, see where that went? Well, see to see where 113 00:07:02.600 --> 00:07:05.480 that went? Huh girl, book you see where that went? 114 00:07:05.560 --> 00:07:06.120 Over time? 115 00:07:06.560 --> 00:07:07.000 All right? 116 00:07:07.120 --> 00:07:11.160 Dan, all right, thank you? Yeah, quick break here at 117 00:07:11.240 --> 00:07:14.160 nights I. This is a quick turnaround. We got Jack 118 00:07:14.199 --> 00:07:16.839 on the Cape coming up next, followed by Kevin. I 119 00:07:16.879 --> 00:07:20.480 got Susan and Cambridge into finally breaking the streak of 120 00:07:20.519 --> 00:07:23.959 all male callers, and I got Jim as well. So 121 00:07:24.000 --> 00:07:27.959 we're gonna get everybody in. Only line open sixty, that's 122 00:07:27.959 --> 00:07:31.480 the only one, and dial that. I'll get you in six, one, seven, two, five, 123 00:07:32.279 --> 00:07:33.680 ten thirty back after this. 124 00:07:34.959 --> 00:07:37.959 Now back to Dan Way live from the Window World 125 00:07:38.079 --> 00:07:41.600 Nice Sight Studios on WBZ News Radio. 126 00:07:42.360 --> 00:07:46.279 Oh. Next up to Jack down on Cape cod beautiful 127 00:07:46.360 --> 00:07:48.720 day of the Cape today. I hope for you, Jack. 128 00:07:49.319 --> 00:07:53.319 It certainly was. It really was. It's great to get 129 00:07:53.360 --> 00:07:56.839 out and see the coast in the water. But Dan, 130 00:07:56.959 --> 00:08:02.800 I'm i'm, I'm, I'm seventy and from my perspective, we 131 00:08:02.879 --> 00:08:06.360 have the United we have not had a recession real 132 00:08:06.480 --> 00:08:10.079 what I would consider a real recession since nineteen eighty seven. 133 00:08:10.680 --> 00:08:13.160 Oh, come on, two thousand, two thousand and seven, two. 134 00:08:13.000 --> 00:08:14.560 Thousand, Now listen to me. 135 00:08:14.680 --> 00:08:17.800 Now, go ahead, I'm listening. I just wanted to make 136 00:08:17.800 --> 00:08:19.079 account of right ahead. 137 00:08:19.920 --> 00:08:24.920 What they've done is they have papered over any of 138 00:08:24.920 --> 00:08:28.600 the necessary contractions of the economy, and that's why we've 139 00:08:28.600 --> 00:08:30.759 got a thirty seven trillion dollar. 140 00:08:32.200 --> 00:08:32.720 Deficit. 141 00:08:33.320 --> 00:08:35.240 Okay, I agree at that point. 142 00:08:36.000 --> 00:08:41.279 Okay, so a lot of this is just my perspective 143 00:08:41.320 --> 00:08:47.840 and analysis. But I see that they're they're they're they're 144 00:08:47.879 --> 00:08:52.679 concealing the collapse of the currency in both the stock 145 00:08:52.759 --> 00:09:01.200 market and housing. These are two massive into of a 146 00:09:01.320 --> 00:09:06.320 dollar dollars, I mean, and this also reflects upon the 147 00:09:06.759 --> 00:09:12.200 loss of the dollar as the reserve currency. 148 00:09:12.360 --> 00:09:13.000 So I think a lot. 149 00:09:13.120 --> 00:09:18.240 There's a lot going on here, and I really unfortunately, 150 00:09:18.279 --> 00:09:22.440 fortunately and for whatever, it's just the nature of economics, 151 00:09:22.440 --> 00:09:28.559 but I feel that a major contraction is necessary because 152 00:09:29.120 --> 00:09:34.279 the the basic number formula that we're operating under, I 153 00:09:34.360 --> 00:09:38.840 just don't see. It just doesn't work. Housing is just 154 00:09:39.919 --> 00:09:44.440 out of this world, and if housing's out of this world, 155 00:09:46.639 --> 00:09:50.320 the younger generation I'm thinking of, I think of them, 156 00:09:50.399 --> 00:09:54.120 and it's they got a tough road to home. 157 00:09:54.720 --> 00:09:58.399 Well everyone, let me say this, Jack, let me just 158 00:09:58.399 --> 00:10:02.480 give you a little bit of counter argument. Okay, as 159 00:10:02.480 --> 00:10:04.600 I say, I do believe the two thousand and seven 160 00:10:04.639 --> 00:10:08.799 two thousand and eight was a pretty tough recession under 161 00:10:08.919 --> 00:10:12.080 the waiting days of the Bush administration. But putting that 162 00:10:12.200 --> 00:10:17.559 behind us, housing in Greater Boston and on Cape Cod 163 00:10:17.919 --> 00:10:22.759 is very expensive, but there's a lot of people, a 164 00:10:22.799 --> 00:10:25.120 lot of places around the country where housing is not 165 00:10:26.080 --> 00:10:30.919 as expensive. So you know, we live in an extraordinarily 166 00:10:31.679 --> 00:10:37.919 expensive part of the state of the country. And ironically, ironically, 167 00:10:38.600 --> 00:10:43.440 more people today can work remotely from their home by 168 00:10:43.519 --> 00:10:46.919 virtue not just COVID, but by virtue of the skill 169 00:10:47.000 --> 00:10:50.960 set that that younger people have, their their ability to 170 00:10:51.039 --> 00:10:55.919 deal more comfortably with computers. And also there's a lot 171 00:10:56.000 --> 00:11:00.960 more jobs that companies are willing to pay people for, 172 00:11:01.519 --> 00:11:05.759 so people don't have to live within one twenty eight anymore. 173 00:11:05.919 --> 00:11:12.840 Okay, well, yeah, but these jobs are they're either this 174 00:11:13.320 --> 00:11:16.279 touches on musks, getting rid of the government workers. I mean, 175 00:11:16.399 --> 00:11:19.399 a lot of it is paper pushing, and a lot 176 00:11:19.440 --> 00:11:25.159 of this remote work is information pushing. It's not creating 177 00:11:26.000 --> 00:11:30.960 physical process I mean physical the physics. Okay. It's the 178 00:11:31.000 --> 00:11:35.960 difference between the physical economy and the electronic economy. And 179 00:11:36.200 --> 00:11:41.559 this stock market is an electronic economy. It's not real. 180 00:11:41.759 --> 00:11:45.840 And if if president as far as President Trump, I 181 00:11:45.879 --> 00:11:48.240 think he's getting a little caught up in the swamp 182 00:11:48.279 --> 00:11:51.399 and the Wall Street scenario, he's got to go back 183 00:11:51.440 --> 00:11:55.440 to main Street. This whole problem with our country is 184 00:11:55.480 --> 00:11:57.720 going to be solved on main Street, not Wall Street 185 00:11:58.759 --> 00:11:59.399 always is. 186 00:11:59.759 --> 00:12:04.080 But but what happened today is real. What might happen tomorrow? 187 00:12:04.159 --> 00:12:07.919 Israel Jack, I mean Wall Street is real? Okay, I 188 00:12:07.960 --> 00:12:11.279 mean there's there's people who lost money today. 189 00:12:10.600 --> 00:12:15.960 And our perception is as long as it goes up, 190 00:12:15.960 --> 00:12:18.399 it's good, and if it goes down, it's bad. But 191 00:12:18.720 --> 00:12:20.960 we have to look at what if it did really 192 00:12:21.000 --> 00:12:24.200 go down? What if what if the market went down 193 00:12:24.240 --> 00:12:31.000 to you know, nineteen eighty seven levels, Well, the dollars. 194 00:12:30.720 --> 00:12:33.720 That would be if the market went down to nineteen 195 00:12:33.799 --> 00:12:40.639 eighty seven levels, that would make that correction bigger than 196 00:12:40.720 --> 00:12:45.240 the Great Depression of nineteen twenty nine. Absolutely, all right, 197 00:12:46.200 --> 00:12:49.360 I don't think that's going to happen, but but you know, 198 00:12:50.399 --> 00:12:54.080 you never say never. The point is this, let's assume 199 00:12:54.200 --> 00:12:59.000 that the average home within one twenty eight is now 200 00:12:59.080 --> 00:13:00.279 a million dollars. 201 00:13:00.600 --> 00:13:01.639 Okay? 202 00:13:02.320 --> 00:13:04.480 Is that a fear assessment? What you said? 203 00:13:04.559 --> 00:13:06.840 Yeah, we'll, we'll, we'll take that. 204 00:13:07.559 --> 00:13:11.559 Okay. That means that there's some homes that are less 205 00:13:11.559 --> 00:13:14.559 than a million dollars. Uh, and there are some homes 206 00:13:14.559 --> 00:13:19.200 more than a million dollars, and salaries are greater today. 207 00:13:19.279 --> 00:13:21.600 The question is when the salaries are out of whack 208 00:13:21.679 --> 00:13:24.480 with the expense with the cost of the housing, then 209 00:13:24.519 --> 00:13:26.320 the housing's gonna have to come down because you're going 210 00:13:26.399 --> 00:13:28.679 to have fewer people able to buy that housing. What's 211 00:13:28.720 --> 00:13:30.639 the free market is all about? Here? 212 00:13:31.279 --> 00:13:35.919 And Dan, Yeah, well let's end this conversation. And I 213 00:13:35.960 --> 00:13:36.919 think that's where we are. 214 00:13:37.679 --> 00:13:39.720 Okay, fair enough, we can we can end it at 215 00:13:39.720 --> 00:13:42.240 that point. Thanks, Jack, appreciate your calling very much. Have 216 00:13:42.279 --> 00:13:44.600 a good one. Next up, Kevin is in Walpole. Kevin 217 00:13:44.600 --> 00:13:48.360 next on Nightsig go right ahead, Dan, I was just. 218 00:13:48.240 --> 00:13:51.399 Gonna say, you know, listening to some of the callers, 219 00:13:51.879 --> 00:13:55.279 I actually think the whole thing is planned out. And 220 00:13:56.440 --> 00:14:00.799 what I mean by that is, I think we're over levered. 221 00:14:01.120 --> 00:14:03.320 I think the stock market was way over levered. I 222 00:14:03.360 --> 00:14:07.840 think Trump walked in thinking what does a what does 223 00:14:07.840 --> 00:14:11.600 a correction look like? It's usually a bust of a bubble, 224 00:14:12.039 --> 00:14:15.919 and I think they're trying to very carefully walk and 225 00:14:16.039 --> 00:14:19.960 let air out of the bubble. I think cheap, cheap 226 00:14:20.240 --> 00:14:24.039 interest rates for the last decade allowed companies to get 227 00:14:24.080 --> 00:14:27.799 over levered. I mean, why has Warren Buffett, why has 228 00:14:27.840 --> 00:14:30.320 he moved to over three hundred billion in cash and 229 00:14:30.399 --> 00:14:32.320 now just sitting on the sidelines. What does he do 230 00:14:32.440 --> 00:14:35.360 best when the market corrects and then he comes back in? 231 00:14:36.080 --> 00:14:40.879 And I believe real estate's overlevered. I believe from a 232 00:14:41.000 --> 00:14:45.759 decade of free or very low interest money, they have 233 00:14:45.879 --> 00:14:49.399 to very carefully let the air out of the bubble 234 00:14:49.480 --> 00:14:52.480 so it's not a major crash. And I think this 235 00:14:52.639 --> 00:14:57.360 beset seems very very intelligent. And I think what Trump's 236 00:14:57.440 --> 00:15:00.879 doing with all of this tariffs and this, what is 237 00:15:00.919 --> 00:15:04.960 he doing. He's sending uncertainty to a market that demands certainty, 238 00:15:05.080 --> 00:15:08.559 Like Wall Street functions on certainty. 239 00:15:08.639 --> 00:15:11.840 And by doing they don't demand it that they like it, 240 00:15:12.000 --> 00:15:12.480 they like. 241 00:15:12.480 --> 00:15:16.639 It, they like it demands the wrong word. But but 242 00:15:16.639 --> 00:15:18.960 but I think I think what he's doing is he's 243 00:15:19.000 --> 00:15:24.799 trying to help the main street down, which lowering getting 244 00:15:24.879 --> 00:15:27.840 interest rates down would do that. Well, if you take 245 00:15:27.960 --> 00:15:30.879 money out of the stock market and it's sitting on 246 00:15:30.919 --> 00:15:33.480 the sidelines and bank accounts aren't paying a lot, what 247 00:15:33.519 --> 00:15:35.720 do you do. You'll go to something safe like bonds. 248 00:15:35.799 --> 00:15:38.799 They need the bond yield to come down to lower 249 00:15:39.039 --> 00:15:43.559 long term interest rates. I do real estate deal things 250 00:15:43.559 --> 00:15:45.840 like that. You can't even find a good deal today. 251 00:15:45.840 --> 00:15:50.039 They're so thin and the cost of money is so high, 252 00:15:50.240 --> 00:15:53.000 and the and the properties have not come down. Usually 253 00:15:53.039 --> 00:15:56.080 when money used to go up interest rates, the values 254 00:15:56.080 --> 00:15:59.360 would come down. Neither one has given and something has 255 00:15:59.440 --> 00:16:02.879 to give. And I think Trump. I was not a 256 00:16:02.919 --> 00:16:05.919 Trump fan. I did end up voting for him because 257 00:16:05.919 --> 00:16:09.000 I couldn't vote for Kamala or but he was never 258 00:16:09.080 --> 00:16:13.519 my first choice. But I'll tell you, looking back in history, 259 00:16:14.600 --> 00:16:17.279 sometimes the right person is in the right job at 260 00:16:17.279 --> 00:16:21.200 the right time. You know, if a career politician came in, 261 00:16:21.320 --> 00:16:24.840 how would they do these cuts. He doesn't need to 262 00:16:24.840 --> 00:16:27.840 get re elected. He doesn't look for fred. He's not 263 00:16:27.960 --> 00:16:31.759 making friends. I think the stuff he's doing is so 264 00:16:32.399 --> 00:16:35.799 needed for us to remain a healthy country for the 265 00:16:35.840 --> 00:16:39.000 next hundred years. All right, how sustainable? 266 00:16:40.000 --> 00:16:44.799 One last time you made some you made interesting arguments 267 00:16:44.840 --> 00:16:48.840 that are based in uh, in pretty solid economic theory. 268 00:16:48.879 --> 00:16:52.919 I mean the the interest rates went up very high, 269 00:16:53.559 --> 00:16:57.320 uh in the last two or three years, and then 270 00:16:57.600 --> 00:17:01.240 they started to come back down. UH. Now they're going 271 00:17:01.279 --> 00:17:04.920 back up again. So it's it's like follow the bouncing 272 00:17:05.000 --> 00:17:05.519 ball here. 273 00:17:06.799 --> 00:17:10.160 Well, and if I read this correctly, of the forty 274 00:17:10.279 --> 00:17:15.640 trillion we're almost in debt, supposedly nine almost ten of 275 00:17:15.680 --> 00:17:18.559 it matures this the end of this year and needs 276 00:17:18.559 --> 00:17:21.880 to be refinanced. So if twenty five percent of the 277 00:17:21.920 --> 00:17:27.440 country's dead, it would it makes sense to artificially bring 278 00:17:27.519 --> 00:17:30.799 us into a recession to lower long term interest rates 279 00:17:30.839 --> 00:17:33.920 in an effort to to be able to refinance that 280 00:17:34.039 --> 00:17:38.519 debt at a lower rate. So I just think, I 281 00:17:38.559 --> 00:17:40.000 think he I'm hoping. 282 00:17:40.400 --> 00:17:44.519 I understand. Yeah, I understand the point you're making, but 283 00:17:44.680 --> 00:17:47.079 I think that you're giving him probably a little bit 284 00:17:47.119 --> 00:17:50.799 too much credit my be in my opinion, I just 285 00:17:50.839 --> 00:17:55.039 think that I didn't understand how they could allow the 286 00:17:55.119 --> 00:17:58.319 Zelensky deal to get to the point that it got 287 00:17:58.359 --> 00:18:02.039 to the other day. Your staff has to do that 288 00:18:02.279 --> 00:18:06.079 agreement in advance, so that even when Zelensky and and 289 00:18:06.119 --> 00:18:08.440 Trump would be sitting in the White House signing the deal, 290 00:18:08.640 --> 00:18:11.599 the deal was signed four hours ago. Uh, and they're 291 00:18:11.640 --> 00:18:16.480 just going through it. That was an astonishing, an astonishing moment. 292 00:18:17.079 --> 00:18:21.759 And I'm looking now at everything that is up in 293 00:18:21.799 --> 00:18:25.960 the air. He's opened up these tariffs. UH, Mexico and 294 00:18:25.960 --> 00:18:29.440 and UH and China and and Canada has said you 295 00:18:29.480 --> 00:18:32.559 want a war, You got a war. I just think you. 296 00:18:33.079 --> 00:18:35.200 They'd be fool to go to war. I think it's 297 00:18:35.240 --> 00:18:38.880 all white noise to bring that uncertainty to the market. 298 00:18:39.200 --> 00:18:42.000 And so you think, do you think that you think 299 00:18:42.000 --> 00:18:46.119 that Mexico and and and China and Canada are in 300 00:18:46.200 --> 00:18:48.680 on this this plot. Is that what you're telling me? 301 00:18:48.839 --> 00:18:51.920 No, I don't, No, I don't. But I think they'll 302 00:18:51.960 --> 00:18:56.160 get hurt a lot worse than we will. And I 303 00:18:56.200 --> 00:18:57.240 think it's short term. 304 00:18:57.960 --> 00:19:00.599 Okay, we will, we will see yah. And I loved 305 00:19:00.599 --> 00:19:03.680 your call. Lot of substance to the call. Again, it's 306 00:19:03.799 --> 00:19:11.000 all theory. But guess what you know tomorrow, if all 307 00:19:11.000 --> 00:19:14.119 of us could have seen this, you could have pulled 308 00:19:14.119 --> 00:19:18.039 your money out of the market Friday at some point 309 00:19:18.400 --> 00:19:21.160 and said, Okay, we're gonna get a big bump down 310 00:19:21.319 --> 00:19:24.200 on Monday, and then you could go back in. I mean, 311 00:19:24.440 --> 00:19:28.200 you can't time the market. Anybody who's selling tomorrow. 312 00:19:28.400 --> 00:19:32.200 The greatest investor has Warren Buffetts moved to over three 313 00:19:32.279 --> 00:19:36.240 hundred billion in cash the last year. He saw this coming. 314 00:19:37.720 --> 00:19:40.720 Well, then let's see. Let's see where it plays out 315 00:19:40.839 --> 00:19:44.599 when Buffett starts to reinvest. Kevin, you've got to let 316 00:19:44.640 --> 00:19:46.000 us all know here on Night's side. 317 00:19:46.039 --> 00:19:48.880 Okay, yeah, yep, good luck. 318 00:19:49.039 --> 00:19:51.240 Yeah, you can get your investments done and then call 319 00:19:51.359 --> 00:19:54.599 us the next day. Fair enough, thanks Kevin. Back to 320 00:19:54.720 --> 00:19:57.519 some good, good analysis. We'll take a break. I got 321 00:19:57.559 --> 00:20:00.839 one line in six month seven two, and I got 322 00:20:00.839 --> 00:20:04.839 one line at six months seven nine. That's the tip, 323 00:20:05.000 --> 00:20:08.920 one line each each place. Fill it up. Coming back 324 00:20:09.000 --> 00:20:12.440 after this one night Side. 325 00:20:12.960 --> 00:20:17.680 It's night Side with Boston's news radio. 326 00:20:18.880 --> 00:20:22.519 Keep growing here. I'm gonna go to Susan and Cambridge. Susan, 327 00:20:22.559 --> 00:20:24.559 you were next on Nightside. Welcome back. 328 00:20:25.680 --> 00:20:29.000 Hey, good evening, Dan. I don't know where all the 329 00:20:29.039 --> 00:20:35.039 girls are at tonight, but yeah, I'm disappointed. So I 330 00:20:35.119 --> 00:20:37.759 figured I would give a call, which is always dangerous 331 00:20:37.799 --> 00:20:39.759 on a Monday, because you know, there's a whole week 332 00:20:39.799 --> 00:20:42.759 ahead and I got, you know, miss out on things 333 00:20:42.839 --> 00:20:44.160 later in the week to call him out. 334 00:20:44.240 --> 00:20:46.519 Give you a haul passed. Since you were brave enough 335 00:20:46.559 --> 00:20:48.640 to call tonight, you got a hall pass for the 336 00:20:48.680 --> 00:20:51.119 rest of the week as well. Rob marked that down. 337 00:20:51.200 --> 00:20:56.839 Go ahead, Susan, Okay, thanks so much. So I love 338 00:20:56.920 --> 00:21:00.599 these callers who are like, you know, he's playing four 339 00:21:00.599 --> 00:21:08.559 dimensional chests here, you know that what we're up to, look, 340 00:21:08.640 --> 00:21:15.160 I think it's chaos, and I think that, uh, you know, 341 00:21:15.279 --> 00:21:19.839 even if we were going to try and use terrors strategically, 342 00:21:20.400 --> 00:21:24.279 there's a question of timing and would this be the 343 00:21:24.359 --> 00:21:27.279 right time to do it, because you have an economy 344 00:21:27.519 --> 00:21:30.720 and a world economy that's coming back from the pandemic 345 00:21:31.200 --> 00:21:36.920 from everybody had inflation worldwide and things were just starting 346 00:21:36.960 --> 00:21:40.920 to you know, we had supply change disrupted all that, 347 00:21:41.519 --> 00:21:45.319 and we've just started to you know finally that had 348 00:21:45.400 --> 00:21:49.480 kind of been pieced back together and interest rates were 349 00:21:49.480 --> 00:21:52.240 starting to come down, prices were no longer going up 350 00:21:52.240 --> 00:21:58.599 at the same rate, and so, you know, is that 351 00:21:58.720 --> 00:22:03.119 the best time to suddenly turn it all you know, 352 00:22:03.680 --> 00:22:06.960 turn it all up again, like I just think, just 353 00:22:07.000 --> 00:22:10.240 on a basic timing issue, it's it's the wrong time 354 00:22:10.279 --> 00:22:10.759 to do it. 355 00:22:11.559 --> 00:22:14.839 But well, but there's a lot going on too. I 356 00:22:14.839 --> 00:22:19.079 mean this you've got obviously you have forget. I haven't 357 00:22:19.119 --> 00:22:22.880 even mentioned the Middle East. Hamas is still holding hostages. 358 00:22:24.000 --> 00:22:25.720 They don't know how many of them are dead, how 359 00:22:25.759 --> 00:22:28.000 many of them are alive. So you got that situation 360 00:22:28.039 --> 00:22:29.079 which is an open sore. 361 00:22:29.799 --> 00:22:29.920 Uh. 362 00:22:30.440 --> 00:22:34.079 You have all the stuff that he said earlier about 363 00:22:34.319 --> 00:22:37.480 we're going to turn it into you know, the Riviera 364 00:22:37.759 --> 00:22:39.240 on the mediterrane or whatever. 365 00:22:39.480 --> 00:22:41.319 You know, Yeah, we're. 366 00:22:41.119 --> 00:22:45.440 Gonna somehow take and that's that was kind of crazy, 367 00:22:47.279 --> 00:22:52.839 just as a whole lot here that that you would say, 368 00:22:52.960 --> 00:22:54.839 I mean, how many of these things are you going 369 00:22:54.880 --> 00:22:58.720 to take on simultaneously? These are people and you know, 370 00:22:58.880 --> 00:23:01.200 I listened to the press sect. Terry every day holds 371 00:23:01.200 --> 00:23:03.960 a news conference and says things are going great. The 372 00:23:04.039 --> 00:23:08.839 executive orders, the layoffs, the cutbacks, the closing of departments. 373 00:23:09.680 --> 00:23:13.079 You know, you got to give the Democrats credit. They 374 00:23:13.119 --> 00:23:17.200 gave him all of the nominations he wanted, controversial and otherwise. 375 00:23:18.319 --> 00:23:20.200 So he kind of turned around to say, well, you 376 00:23:20.279 --> 00:23:22.799 didn't give me this guy you give me that that 377 00:23:22.880 --> 00:23:25.319 woman that he got all of them. To the rest 378 00:23:25.359 --> 00:23:28.160 of my knowls, I don't think one one was rejected. 379 00:23:29.079 --> 00:23:30.240 Yeah, I don't think. 380 00:23:32.400 --> 00:23:35.160 So. I if it all goes south here, he's not 381 00:23:35.200 --> 00:23:37.839 going to be able to point fingers he helped, you know, 382 00:23:38.200 --> 00:23:39.119 Bell do it. 383 00:23:39.519 --> 00:23:42.359 He'll still be blamed blaming Biden and Hillary till the 384 00:23:42.400 --> 00:23:45.359 day he dies. But I just wanted to say specifically 385 00:23:45.480 --> 00:23:48.119 on tariff. Yeah, I want to break them down into 386 00:23:48.359 --> 00:23:51.960 two different categories. One is like for manufacturing and one 387 00:23:52.039 --> 00:23:56.119 is for like goods, uh, you know, farm goods, et cetera. 388 00:23:57.839 --> 00:24:01.920 So he's lying, well, can I point out that he 389 00:24:02.160 --> 00:24:06.880 renegotiated NAFTA in his last term, So he's complaining about 390 00:24:06.880 --> 00:24:11.440 things with Canada that he negotiated. The two hundred percent 391 00:24:11.559 --> 00:24:15.720 tariff on eggs or on dairy products is actually not 392 00:24:15.799 --> 00:24:18.480 a two hundred percent tariff. What it is is if 393 00:24:19.640 --> 00:24:25.160 it goes above a certain level of US dairy imports, 394 00:24:25.279 --> 00:24:27.960 then that kicks in. It never goes above that level, 395 00:24:28.880 --> 00:24:32.119 but he negotiated that, that was in his last term. 396 00:24:32.599 --> 00:24:37.079 So and then you have the question of manufacturing. Well, 397 00:24:38.160 --> 00:24:41.240 I mean from the experts I've heard, there is nothing 398 00:24:41.359 --> 00:24:45.319 that is made these days, that is made if it 399 00:24:45.359 --> 00:24:48.440 has more than two components, that is made in just 400 00:24:48.519 --> 00:24:52.519 one country. Things go back and forth all over the place, 401 00:24:52.640 --> 00:24:55.400