Speaker 1: It's a nice.
Speaker 2: Undoing Boston's News Radio.
Speaker 3: We're talking about what happened on Wall Street today. Again,
Speaker 3: some of you may not have stock investments, but virtually
Speaker 3: everybody in America is expect is impacted by what happened
Speaker 3: on Wall Street today because if you have a pension plan,
Speaker 3: if your union is invested in Wall Street, it's a
Speaker 3: bud bath today. Okay, just no way to describe it
Speaker 3: in any other way. So far, all the callers this
Speaker 3: evening have been men, which always disappoints me. But it
Speaker 3: disappoints me that we don't have a female perspective on this.
Speaker 3: This was a rough, rough day, no matter how you
Speaker 3: want to how you want to look at it. The
Speaker 3: Dow lost eight and ninety points, down over two percent,
Speaker 3: Nasdaq down four percent, the S and P five hundred
Speaker 3: down two point seven percent. That's an average of about
Speaker 3: three percent, and the futures tomorrow. Look, the market might
Speaker 3: bounce back a little bit tomorrow, but it's not going
Speaker 3: to bounce back from where it landed today. Okay. The
Speaker 3: investors in Wall Street will call it a dead cat bounce,
Speaker 3: but that's that's neither here nor there. The question is
Speaker 3: has the administration decided to take on too many tasks simultaneously,
Speaker 3: and it whether you want to talk about the tariffs
Speaker 3: with China, Mexico, and Canada. Obviously, the Ukraine situation may
Speaker 3: resolve itself. I mean there are indications that that could
Speaker 3: resolve itself the most easily of everything, which is saying
Speaker 3: something in of itself. So I just have one line
Speaker 3: open at six one, seven, two, five, four, ten thirty.
Speaker 3: You do not have to be an economics major from
Speaker 3: Harvard to participate in the conversation. We're just looking to
Speaker 3: find out what you think and are you concerned and
Speaker 3: should the Trump administration be concerned? We played earlier and
Speaker 3: if I have to, I will play them again. A
Speaker 3: couple of soundbites from yesterday where he seemed to not
Speaker 3: handle the question with the ease at which it seemed
Speaker 3: that he was. He was caught off balance when this
Speaker 3: interviewer on one of the Sunday shows asked him about
Speaker 3: the R word. In the meantime, let's get Roland. Hey,
Speaker 3: going to go back to Paul and Lynn. We've had
Speaker 3: more pauls tonight that we normally have. Hi, Paul and Lynn,
Speaker 3: how are you tonight?
Speaker 4: Yeah, I'm doing good.
Speaker 1: Dan.
Speaker 4: I don't know much about economics, but I got a question,
Speaker 4: does Donald Trump have any thing to do with the
Speaker 4: stock market happening today? And then I'm going to comment, in.
Speaker 3: My opinion, it has everything to do with what happened today.
Speaker 3: I think the market doesn't like uncertainty, and certainly one
Speaker 3: of the concerns that the market is always going to
Speaker 3: have is when someone, particularly in his position, doesn't respond
Speaker 3: quickly to the even mere suggestion of a recession. He
Speaker 3: fumbled that question yesterday, in my opinion, and that has
Speaker 3: contributed what have the market been up today? I doubt it,
Speaker 3: but I think the market dove a lot deeper because
Speaker 3: of that, in my opinion.
Speaker 4: And if we stayed with the other administration, which is
Speaker 4: the worst of the you know. But I think with
Speaker 4: all these tariffs that he has set that's never happened
Speaker 4: in any president had any set before history that many tariffs.
Speaker 4: And I think we wanted this change, and we need
Speaker 4: to stand by him and not take the fall, but
Speaker 4: stand by and see where this is going. Because it
Speaker 4: is premature right now. But I think if I'm at
Speaker 4: market basket and I'm looking at what, uh, you know, avocados,
Speaker 4: I'm not going to buy them because I can't afford them.
Speaker 4: And that's something that I can help out with if
Speaker 4: you know, I can't help out much, but I can
Speaker 4: help out by saying I'm going to give avocados until
Speaker 4: the tariffs lifts it, you know.
Speaker 3: I mean, look, as individual consumers, we can do all
Speaker 3: of that. And I think that's a pretty sophisticated comment
Speaker 3: that you made there. If you look at a product
Speaker 3: that you know came from Mexico and you say, guess what,
Speaker 3: as long as they're going to throw some tariffs on us,
Speaker 3: you would hope that cooler heads would prevail. I mean, ideally,
Speaker 3: I agree with President Trump that what you want is
Speaker 3: free trade. I mean that's always been the goal of Republicans.
Speaker 3: Free trade. Uh, fair trade is fair trade. So that.
Speaker 3: But but we've we've lost me car manufacturing plans to Mexico.
Speaker 3: Jobs go to Mexico, and so Donald Trump is trying
Speaker 3: to do something to bring those jobs back, which I
Speaker 3: admire him for. But I just think and and there
Speaker 3: is going to be some discomfort, if not pain, But
Speaker 3: today was a pretty painful day for anybody who's invested
Speaker 3: in the star market, stock market and all of us are,
Speaker 3: whether directly or indirectly. Paul, I appreciate you call you.
Speaker 3: You made some really really good point there, and I
Speaker 3: think people.
Speaker 1: Should follow you.
Speaker 3: No, I'm serious, that was a pretty good economic point.
Speaker 3: We're gonna you're gonna give you an A for economics tonight,
Speaker 3: and I mean that seriously, that was a good one.
Speaker 3: People need to need to not only voted elections, but
Speaker 3: they also need to vote, you know, economically when you
Speaker 3: go somewhere. There's some items that I'm not buying. I mean,
Speaker 3: I know that there's been some items that have been
Speaker 3: pumped up by particularly items that I like. Okay, I'm
Speaker 3: not buying them, as simple as that, because I'm offended that,
Speaker 3: you know, cookies that you know, a couple of years
Speaker 3: ago were maybe two ninety nine are now five oh nine.
Speaker 3: It's like that's forty percent or maybe more, that's sixty
Speaker 3: seven percent. I don't care how much. That's way too
Speaker 3: much in my opinion.
Speaker 4: Wait, now, the girl Scout Cookies, I will not give up.
Speaker 3: Well, you know, the Girl's Scout Cookies need to keep
Speaker 3: their cookies in the price range too. Unless you look
Speaker 3: at it and say, okay, give me two boxes of
Speaker 3: cookies that I'm going to give you one hundred dollars
Speaker 3: because I want to make a charitable contribution. But I'm
Speaker 3: not making a charitable contribution to some corporation if they've
Speaker 3: increased the price of cookies forty percent, trust me on that.
Speaker 4: Okay, see where that went? Well, see to see where
Speaker 4: that went? Huh girl, book you see where that went?
Speaker 1: Over time?
Speaker 5: All right?
Speaker 3: Dan, all right, thank you? Yeah, quick break here at
Speaker 3: nights I. This is a quick turnaround. We got Jack
Speaker 3: on the Cape coming up next, followed by Kevin. I
Speaker 3: got Susan and Cambridge into finally breaking the streak of
Speaker 3: all male callers, and I got Jim as well. So
Speaker 3: we're gonna get everybody in. Only line open sixty, that's
Speaker 3: the only one, and dial that. I'll get you in six, one, seven, two, five,
Speaker 3: ten thirty back after this.
Speaker 2: Now back to Dan Way live from the Window World
Speaker 2: Nice Sight Studios on WBZ News Radio.
Speaker 3: Oh. Next up to Jack down on Cape cod beautiful
Speaker 3: day of the Cape today. I hope for you, Jack.
Speaker 6: It certainly was. It really was. It's great to get
Speaker 6: out and see the coast in the water. But Dan,
Speaker 6: I'm i'm, I'm, I'm seventy and from my perspective, we
Speaker 6: have the United we have not had a recession real
Speaker 6: what I would consider a real recession since nineteen eighty seven.
Speaker 3: Oh, come on, two thousand, two thousand and seven, two.
Speaker 1: Thousand, Now listen to me.
Speaker 3: Now, go ahead, I'm listening. I just wanted to make
Speaker 3: account of right ahead.
Speaker 6: What they've done is they have papered over any of
Speaker 6: the necessary contractions of the economy, and that's why we've
Speaker 6: got a thirty seven trillion dollar.
Speaker 1: Deficit.
Speaker 3: Okay, I agree at that point.
Speaker 6: Okay, so a lot of this is just my perspective
Speaker 6: and analysis. But I see that they're they're they're they're
Speaker 6: concealing the collapse of the currency in both the stock
Speaker 6: market and housing. These are two massive into of a
Speaker 6: dollar dollars, I mean, and this also reflects upon the
Speaker 6: loss of the dollar as the reserve currency.
Speaker 1: So I think a lot.
Speaker 6: There's a lot going on here, and I really unfortunately,
Speaker 6: fortunately and for whatever, it's just the nature of economics,
Speaker 6: but I feel that a major contraction is necessary because
Speaker 6: the the basic number formula that we're operating under, I
Speaker 6: just don't see. It just doesn't work. Housing is just
Speaker 6: out of this world, and if housing's out of this world,
Speaker 6: the younger generation I'm thinking of, I think of them,
Speaker 6: and it's they got a tough road to home.
Speaker 3: Well everyone, let me say this, Jack, let me just
Speaker 3: give you a little bit of counter argument. Okay, as
Speaker 3: I say, I do believe the two thousand and seven
Speaker 3: two thousand and eight was a pretty tough recession under
Speaker 3: the waiting days of the Bush administration. But putting that
Speaker 3: behind us, housing in Greater Boston and on Cape Cod
Speaker 3: is very expensive, but there's a lot of people, a
Speaker 3: lot of places around the country where housing is not
Speaker 3: as expensive. So you know, we live in an extraordinarily
Speaker 3: expensive part of the state of the country. And ironically, ironically,
Speaker 3: more people today can work remotely from their home by
Speaker 3: virtue not just COVID, but by virtue of the skill
Speaker 3: set that that younger people have, their their ability to
Speaker 3: deal more comfortably with computers. And also there's a lot
Speaker 3: more jobs that companies are willing to pay people for,
Speaker 3: so people don't have to live within one twenty eight anymore.
Speaker 6: Okay, well, yeah, but these jobs are they're either this
Speaker 6: touches on musks, getting rid of the government workers. I mean,
Speaker 6: a lot of it is paper pushing, and a lot
Speaker 6: of this remote work is information pushing. It's not creating
Speaker 6: physical process I mean physical the physics. Okay. It's the
Speaker 6: difference between the physical economy and the electronic economy. And
Speaker 6: this stock market is an electronic economy. It's not real.
Speaker 6: And if if president as far as President Trump, I
Speaker 6: think he's getting a little caught up in the swamp
Speaker 6: and the Wall Street scenario, he's got to go back
Speaker 6: to main Street. This whole problem with our country is
Speaker 6: going to be solved on main Street, not Wall Street
Speaker 6: always is.
Speaker 3: But but what happened today is real. What might happen tomorrow?
Speaker 3: Israel Jack, I mean Wall Street is real? Okay, I
Speaker 3: mean there's there's people who lost money today.
Speaker 6: And our perception is as long as it goes up,
Speaker 6: it's good, and if it goes down, it's bad. But
Speaker 6: we have to look at what if it did really
Speaker 6: go down? What if what if the market went down
Speaker 6: to you know, nineteen eighty seven levels, Well, the dollars.
Speaker 3: That would be if the market went down to nineteen
Speaker 3: eighty seven levels, that would make that correction bigger than
Speaker 3: the Great Depression of nineteen twenty nine. Absolutely, all right,
Speaker 3: I don't think that's going to happen, but but you know,
Speaker 3: you never say never. The point is this, let's assume
Speaker 3: that the average home within one twenty eight is now
Speaker 3: a million dollars.
Speaker 1: Okay?
Speaker 3: Is that a fear assessment? What you said?
Speaker 6: Yeah, we'll, we'll, we'll take that.
Speaker 3: Okay. That means that there's some homes that are less
Speaker 3: than a million dollars. Uh, and there are some homes
Speaker 3: more than a million dollars, and salaries are greater today.
Speaker 3: The question is when the salaries are out of whack
Speaker 3: with the expense with the cost of the housing, then
Speaker 3: the housing's gonna have to come down because you're going
Speaker 3: to have fewer people able to buy that housing. What's
Speaker 3: the free market is all about? Here?
Speaker 6: And Dan, Yeah, well let's end this conversation. And I
Speaker 6: think that's where we are.
Speaker 3: Okay, fair enough, we can we can end it at
Speaker 3: that point. Thanks, Jack, appreciate your calling very much. Have
Speaker 3: a good one. Next up, Kevin is in Walpole. Kevin
Speaker 3: next on Nightsig go right ahead, Dan, I was just.
Speaker 5: Gonna say, you know, listening to some of the callers,
Speaker 5: I actually think the whole thing is planned out. And
Speaker 5: what I mean by that is, I think we're over levered.
Speaker 5: I think the stock market was way over levered. I
Speaker 5: think Trump walked in thinking what does a what does
Speaker 5: a correction look like? It's usually a bust of a bubble,
Speaker 5: and I think they're trying to very carefully walk and
Speaker 5: let air out of the bubble. I think cheap, cheap
Speaker 5: interest rates for the last decade allowed companies to get
Speaker 5: over levered. I mean, why has Warren Buffett, why has
Speaker 5: he moved to over three hundred billion in cash and
Speaker 5: now just sitting on the sidelines. What does he do
Speaker 5: best when the market corrects and then he comes back in?
Speaker 5: And I believe real estate's overlevered. I believe from a
Speaker 5: decade of free or very low interest money, they have
Speaker 5: to very carefully let the air out of the bubble
Speaker 5: so it's not a major crash. And I think this
Speaker 5: beset seems very very intelligent. And I think what Trump's
Speaker 5: doing with all of this tariffs and this, what is
Speaker 5: he doing. He's sending uncertainty to a market that demands certainty,
Speaker 5: Like Wall Street functions on certainty.
Speaker 3: And by doing they don't demand it that they like it,
Speaker 3: they like.
Speaker 5: It, they like it demands the wrong word. But but
Speaker 5: but I think I think what he's doing is he's
Speaker 5: trying to help the main street down, which lowering getting
Speaker 5: interest rates down would do that. Well, if you take
Speaker 5: money out of the stock market and it's sitting on
Speaker 5: the sidelines and bank accounts aren't paying a lot, what
Speaker 5: do you do. You'll go to something safe like bonds.
Speaker 5: They need the bond yield to come down to lower
Speaker 5: long term interest rates. I do real estate deal things
Speaker 5: like that. You can't even find a good deal today.
Speaker 5: They're so thin and the cost of money is so high,
Speaker 5: and the and the properties have not come down. Usually
Speaker 5: when money used to go up interest rates, the values
Speaker 5: would come down. Neither one has given and something has
Speaker 5: to give. And I think Trump. I was not a
Speaker 5: Trump fan. I did end up voting for him because
Speaker 5: I couldn't vote for Kamala or but he was never
Speaker 5: my first choice. But I'll tell you, looking back in history,
Speaker 5: sometimes the right person is in the right job at
Speaker 5: the right time. You know, if a career politician came in,
Speaker 5: how would they do these cuts. He doesn't need to
Speaker 5: get re elected. He doesn't look for fred. He's not
Speaker 5: making friends. I think the stuff he's doing is so
Speaker 5: needed for us to remain a healthy country for the
Speaker 5: next hundred years. All right, how sustainable?
Speaker 3: One last time you made some you made interesting arguments
Speaker 3: that are based in uh, in pretty solid economic theory.
Speaker 3: I mean the the interest rates went up very high,
Speaker 3: uh in the last two or three years, and then
Speaker 3: they started to come back down. UH. Now they're going
Speaker 3: back up again. So it's it's like follow the bouncing
Speaker 3: ball here.
Speaker 5: Well, and if I read this correctly, of the forty
Speaker 5: trillion we're almost in debt, supposedly nine almost ten of
Speaker 5: it matures this the end of this year and needs
Speaker 5: to be refinanced. So if twenty five percent of the
Speaker 5: country's dead, it would it makes sense to artificially bring
Speaker 5: us into a recession to lower long term interest rates
Speaker 5: in an effort to to be able to refinance that
Speaker 5: debt at a lower rate. So I just think, I
Speaker 5: think he I'm hoping.
Speaker 3: I understand. Yeah, I understand the point you're making, but
Speaker 3: I think that you're giving him probably a little bit
Speaker 3: too much credit my be in my opinion, I just
Speaker 3: think that I didn't understand how they could allow the
Speaker 3: Zelensky deal to get to the point that it got
Speaker 3: to the other day. Your staff has to do that
Speaker 3: agreement in advance, so that even when Zelensky and and
Speaker 3: Trump would be sitting in the White House signing the deal,
Speaker 3: the deal was signed four hours ago. Uh, and they're
Speaker 3: just going through it. That was an astonishing, an astonishing moment.
Speaker 3: And I'm looking now at everything that is up in
Speaker 3: the air. He's opened up these tariffs. UH, Mexico and
Speaker 3: and UH and China and and Canada has said you
Speaker 3: want a war, You got a war. I just think you.
Speaker 5: They'd be fool to go to war. I think it's
Speaker 5: all white noise to bring that uncertainty to the market.
Speaker 3: And so you think, do you think that you think
Speaker 3: that Mexico and and and China and Canada are in
Speaker 3: on this this plot. Is that what you're telling me?
Speaker 5: No, I don't, No, I don't. But I think they'll
Speaker 5: get hurt a lot worse than we will. And I
Speaker 5: think it's short term.
Speaker 3: Okay, we will, we will see yah. And I loved
Speaker 3: your call. Lot of substance to the call. Again, it's
Speaker 3: all theory. But guess what you know tomorrow, if all
Speaker 3: of us could have seen this, you could have pulled
Speaker 3: your money out of the market Friday at some point
Speaker 3: and said, Okay, we're gonna get a big bump down
Speaker 3: on Monday, and then you could go back in. I mean,
Speaker 3: you can't time the market. Anybody who's selling tomorrow.
Speaker 5: The greatest investor has Warren Buffetts moved to over three
Speaker 5: hundred billion in cash the last year. He saw this coming.
Speaker 3: Well, then let's see. Let's see where it plays out
Speaker 3: when Buffett starts to reinvest. Kevin, you've got to let
Speaker 3: us all know here on Night's side.
Speaker 5: Okay, yeah, yep, good luck.
Speaker 3: Yeah, you can get your investments done and then call
Speaker 3: us the next day. Fair enough, thanks Kevin. Back to
Speaker 3: some good, good analysis. We'll take a break. I got
Speaker 3: one line in six month seven two, and I got
Speaker 3: one line at six months seven nine. That's the tip,
Speaker 3: one line each each place. Fill it up. Coming back
Speaker 3: after this one night Side.
Speaker 2: It's night Side with Boston's news radio.
Speaker 3: Keep growing here. I'm gonna go to Susan and Cambridge. Susan,
Speaker 3: you were next on Nightside. Welcome back.
Speaker 7: Hey, good evening, Dan. I don't know where all the
Speaker 7: girls are at tonight, but yeah, I'm disappointed. So I
Speaker 7: figured I would give a call, which is always dangerous
Speaker 7: on a Monday, because you know, there's a whole week
Speaker 7: ahead and I got, you know, miss out on things
Speaker 7: later in the week to call him out.
Speaker 3: Give you a haul passed. Since you were brave enough
Speaker 3: to call tonight, you got a hall pass for the
Speaker 3: rest of the week as well. Rob marked that down.
Speaker 7: Go ahead, Susan, Okay, thanks so much. So I love
Speaker 7: these callers who are like, you know, he's playing four
Speaker 7: dimensional chests here, you know that what we're up to, look,
Speaker 7: I think it's chaos, and I think that, uh, you know,
Speaker 7: even if we were going to try and use terrors strategically,
Speaker 7: there's a question of timing and would this be the
Speaker 7: right time to do it, because you have an economy
Speaker 7: and a world economy that's coming back from the pandemic
Speaker 7: from everybody had inflation worldwide and things were just starting
Speaker 7: to you know, we had supply change disrupted all that,
Speaker 7: and we've just started to you know finally that had
Speaker 7: kind of been pieced back together and interest rates were
Speaker 7: starting to come down, prices were no longer going up
Speaker 7: at the same rate, and so, you know, is that
Speaker 7: the best time to suddenly turn it all you know,
Speaker 7: turn it all up again, like I just think, just
Speaker 7: on a basic timing issue, it's it's the wrong time
Speaker 7: to do it.
Speaker 3: But well, but there's a lot going on too. I
Speaker 3: mean this you've got obviously you have forget. I haven't
Speaker 3: even mentioned the Middle East. Hamas is still holding hostages.
Speaker 3: They don't know how many of them are dead, how
Speaker 3: many of them are alive. So you got that situation
Speaker 3: which is an open sore.
Speaker 8: Uh.
Speaker 3: You have all the stuff that he said earlier about
Speaker 3: we're going to turn it into you know, the Riviera
Speaker 3: on the mediterrane or whatever.
Speaker 1: You know, Yeah, we're.
Speaker 3: Gonna somehow take and that's that was kind of crazy,
Speaker 3: just as a whole lot here that that you would say,
Speaker 3: I mean, how many of these things are you going
Speaker 3: to take on simultaneously? These are people and you know,
Speaker 3: I listened to the press sect. Terry every day holds
Speaker 3: a news conference and says things are going great. The
Speaker 3: executive orders, the layoffs, the cutbacks, the closing of departments.
Speaker 3: You know, you got to give the Democrats credit. They
Speaker 3: gave him all of the nominations he wanted, controversial and otherwise.
Speaker 3: So he kind of turned around to say, well, you
Speaker 3: didn't give me this guy you give me that that
Speaker 3: woman that he got all of them. To the rest
Speaker 3: of my knowls, I don't think one one was rejected.
Speaker 9: Yeah, I don't think.
Speaker 3: So. I if it all goes south here, he's not
Speaker 3: going to be able to point fingers he helped, you know,
Speaker 3: Bell do it.
Speaker 7: He'll still be blamed blaming Biden and Hillary till the
Speaker 7: day he dies. But I just wanted to say specifically
Speaker 7: on tariff. Yeah, I want to break them down into
Speaker 7: two different categories. One is like for manufacturing and one
Speaker 7: is for like goods, uh, you know, farm goods, et cetera.
Speaker 7: So he's lying, well, can I point out that he
Speaker 7: renegotiated NAFTA in his last term, So he's complaining about
Speaker 7: things with Canada that he negotiated. The two hundred percent
Speaker 7: tariff on eggs or on dairy products is actually not
Speaker 7: a two hundred percent tariff. What it is is if
Speaker 7: it goes above a certain level of US dairy imports,
Speaker 7: then that kicks in. It never goes above that level,
Speaker 7: but he negotiated that, that was in his last term.
Speaker 7: So and then you have the question of manufacturing. Well,
Speaker 7: I mean from the experts I've heard, there is nothing
Speaker 7: that is made these days, that is made if it
Speaker 7: has more than two components, that is made in just
Speaker 7: one country. Things go back and forth all over the place,
Speaker 7: like components come from different places all over the world.
Speaker 7: How are you going to like realign all of that?
Speaker 5: Like that's well the way.
Speaker 3: On that, No, your your your question. But how do
Speaker 3: you relign it? You realign it by trying to get
Speaker 3: to the point where no one's charging tariffs. I mean,
Speaker 3: that's right, Okay, that's the goal. I mean, if you're
Speaker 3: selling you know today in the goal, but if you're
Speaker 3: selling beer from Massachusetts that people in Canada want to drink,
Speaker 3: you know, it should go over the board. At the
Speaker 3: same time, when Molson sends their beer down here, we
Speaker 3: shouldn't be throwing tariffs on there because all it does
Speaker 3: tariffs make it expensive for the for the end consumer.
Speaker 3: And Republicans for years and years and years said, you know,
Speaker 3: fair trade is no tariffs. So the goal is fine,
Speaker 3: But the implementation of the goal and to open up
Speaker 3: a trade war with China, Mexico and Canada simultaneously, I just.
Speaker 7: Think, and just to point out on the manufacturing front,
Speaker 7: he's he's actually talking now about district trying the Chips Act,
Speaker 7: which was a bipartisan deal that was supposed to, you know,
Speaker 7: bring back semiconductor manufacturing to the US by all you
Speaker 7: know measures, but it.
Speaker 3: Was well, wait a second, it was a bipartisan deal
Speaker 3: that sent all that stuff overseas back. You've got to
Speaker 3: go back to nineteen ninety six when Clinton and Gingrich basically.
Speaker 7: Sorry, but now it's been Biden brought it back.
Speaker 3: Well, I don't know how fast it's come back. I
Speaker 3: don't know.
Speaker 7: Oh that's what this act is trying to do. And
Speaker 7: he's saying it's a horrible, horrible and he wants to
Speaker 7: gut it now.
Speaker 3: So well, I don't know enough about that specific I
Speaker 3: don't know. I do know this that that we had
Speaker 3: a lot of chips prior to ninety six that were
Speaker 3: made in Puerto Rico, and we only seemed to have it.
Speaker 3: Became aware of it when the supply chain problems associated
Speaker 3: with COVID were explained to us as Americans, and we said,
Speaker 3: was our chips are being manufactured in Taiwan. So I
Speaker 3: don't know. I don't have that that data in front
Speaker 3: of me. Okay, uh, anything that he can do to
Speaker 3: bring chips back to the US. Manufacturing in the US
Speaker 3: is a good thing. I guess we're arguing about how
Speaker 3: it's being done. That's my problem.
Speaker 7: Weally said why he wants to get the chips ACKed?
Speaker 7: I mean except that you know it was negotiated, you know,
Speaker 7: And by by I mean he really has.
Speaker 3: Maybe he feels maybe he feels is not. I don't know,
Speaker 3: but but that is lost at this point in the
Speaker 3: stuff that we've seen, that Zolensky dvance or Trump WrestleMania
Speaker 3: in the OVERLA it was crazy. It was crazy. I
Speaker 3: will agree with you in that because I saw it
Speaker 3: with my own eyes. I don't know.
Speaker 10: Which is just.
Speaker 7: I mean, I actually think they're creating more waste than
Speaker 7: they're than they're cutting at the moment, I.
Speaker 3: Want to see. What I want to see is specific.
Speaker 3: Show me what you've cut. Show you know. We all
Speaker 3: know that this waste. There's no question about that. There's
Speaker 3: waste in the federal government. Would you agree with that?
Speaker 3: I hope? Can we agree? Sure? So if Elon Musk
Speaker 3: or if William Proxmyer was the ghost of William Proxmyer,
Speaker 3: who was a Democratic Senator from Wisconsin who used to
Speaker 3: basically every year rail against that stuff if they if
Speaker 3: they can, whoever it is, gets it out, Let's get
Speaker 3: it out because I want my tax dollars to go
Speaker 3: for to defend the country and to help people who
Speaker 3: need help. Is that too much to ask?
Speaker 10: No?
Speaker 7: But I think bringing in somebody who knows absolutely nothing
Speaker 7: about how you know, the government runs and having him
Speaker 7: take a sledgehammer to things rather than a more you know.
Speaker 11: Scout right.
Speaker 3: Well, I'm saying I have said that. But what I
Speaker 3: want to see is I want to see results. I
Speaker 3: want to see results, specific results. Susan, great call. I
Speaker 3: got to keep rolling here though. Okay, you got your
Speaker 3: time of the night. Okay, and you get it awesome.
Speaker 3: Thanks all right, let me I want to get Jim
Speaker 3: in here. Jimmy've been very patient. Gets you in before
Speaker 3: the break, right ahead.
Speaker 8: Jim, And thanks for getting me in before the break.
Speaker 8: Thank you for taking my call. So lots of really
Speaker 8: good h feedback here. So as hard as I try
Speaker 8: to avoid the invest commercials, I still end up hearing
Speaker 8: enough of them that I'm an actual expert on stock market.
Speaker 8: So here's the deal.
Speaker 9: It's it's rocket science, but you don't have to be
Speaker 9: a rocket scientist. In order to use it and understand.
Speaker 8: First of all, there's risk involved. You're supposed to be diversified.
Speaker 8: Your diversification is supposed to be based on your adversity
Speaker 8: to risk. And my this is my personal observation. When
Speaker 8: securities go up, come on of these go down, and
Speaker 8: generally speaking, when securities go down, commodities go up. So
Speaker 8: you know it shouldn't You shouldn't have so much money
Speaker 8: in there that in any way, in a way that's
Speaker 8: gonna really hurt you. So I don't think you should
Speaker 8: be pulling money. I don't understand why people are pulling
Speaker 8: money out of there, but I don't understand everything about
Speaker 8: So that's my observation.
Speaker 3: Look, I think we would agree panic selling is not
Speaker 3: a good thing. Okay, anybody who's who panics and gets scared.
Speaker 3: You can't be afraid in the market. You got to
Speaker 3: say to yourself, Okay, bad day, let's try to see
Speaker 3: what happens. I think there may be more bad days,
Speaker 3: but I'm staying with the market because that over my lifetime,
Speaker 3: you stay, you stay, and you buy, and you you
Speaker 3: invest when you can on the downside. But but I
Speaker 3: just think that this has been a really rough couple
Speaker 3: of weeks beginning with the Zelensky meeting, and and it's
Speaker 3: been a rough tent It's been a rough ten days.
Speaker 3: Frankly for the first ten days of March after the
Speaker 3: Zelenski meeting on the twenty eighth, been a top bunch
Speaker 3: of tough days for this administration. And they came in
Speaker 3: with wind at their back, and I think that wind
Speaker 3: is slowly but surely swinging in the other direction. And
Speaker 3: for this to happen this quickly, they better get their
Speaker 3: act together too.
Speaker 9: Well. I agree with you on the wind, I I agree,
Speaker 9: but I disagree with you. Better get their act together
Speaker 9: because I think the United States is by far the strongest,
Speaker 9: most wealthiest, productive country in the world. And I think
Speaker 9: he's just trying to introduce everyone else to that idea
Speaker 9: and they're not taking it very well. But eventually they will.
Speaker 9: We'll get through to them, and then we will re
Speaker 9: take our eat.
Speaker 8: With the right hand.
Speaker 5: Now.
Speaker 9: But I just I just think that people, he's you know,
Speaker 9: he's just establishing his you know, his power. He's letting
Speaker 9: everybody know I'm the boss.
Speaker 6: Now.
Speaker 2: Well, I don't like it if you don't like.
Speaker 3: It, as long as long as you win as long
Speaker 3: as you win to fight you it can be the
Speaker 3: toughest guy in the block, but you got to win
Speaker 3: every fight, Okay. And I think that, Look, i've made
Speaker 3: my point here. I think you've made yours. And I
Speaker 3: think that it's going to get a little choppy. It's
Speaker 3: going to probably get more choppy before it gets smooth.
Speaker 3: And in the meantime, you take a day off the calendar,
Speaker 3: a day off the calendar, and the Republicans are wasting time,
Speaker 3: in my opinion.
Speaker 9: Something else.
Speaker 8: I'll tell you that. I just found out Canada started
Speaker 8: the tariff thing by putting a twenty five percent tariff
Speaker 8: on Chinese made electric cars about a year ago.
Speaker 3: Yeah, they've been in a fight. China and Canada have
Speaker 3: been a fight as well for on a number.
Speaker 8: Of so they don't really have too much. They don't
Speaker 8: really have too much mean to complain about tariffs.
Speaker 11: All right, I gotta go, all right, thank you, Jim,
Speaker 11: have a great night.
Speaker 3: We'll be back on nightside right after the break. I
Speaker 3: got some call. If you want to, I get you
Speaker 3: in six one, seven, two, five, four ten thirty six
Speaker 3: one seven, nine, three, one ten thirty Back on Nightside.
Speaker 3: Been an interesting conversation. A lot of smart people in
Speaker 3: my audience tonight, whether you agree or disagree with them,
Speaker 3: people are bringing their a game, which is well we
Speaker 3: ask you to do here on Nightside.
Speaker 2: Now back to Dan Ray Mine from the window World
Speaker 2: Nightside Studios on WBZ News Radio.
Speaker 3: All Right, folks, all of a sudden, couple of folks
Speaker 3: dropped off here, feel free. I would love to know.
Speaker 3: I get concerned about the stock market. If you're a
Speaker 3: Trump supporter, did you expect this. It's been a rough
Speaker 3: ten days from the moment of the Zelensky meeting in
Speaker 3: the Oval Office. This president, I think at this point,
Speaker 3: has spent a lot of political capital, and I'm telling
Speaker 3: you that, uh, it's the hounds are going to turn
Speaker 3: on him real quickly.
Speaker 2: Here.
Speaker 3: He's got uh, he's got a debt ceiling vote coming
Speaker 3: up later this week. There's there's a lot on his plate.
Speaker 3: And I think that whether you're a supporter or not,
Speaker 3: you're gonna look at him a little differently. He I
Speaker 3: mean just from last when you when you go back
Speaker 3: to what last Tuesday night. Uh, he looked in pretty
Speaker 3: good shape at the Congressional speech, the speech to the
Speaker 3: Joint Session of Congress today. This was a rough day
Speaker 3: for the administration. Six six, seven nine. Going to go
Speaker 3: to Mike in Beverly. Next, Mike, you're next on nightside.
Speaker 5: Go ahead, Mike, Hey, Dan Hawaii.
Speaker 11: Can hear me?
Speaker 3: I can hear you? Find Mike. I know you're support
Speaker 3: order of President Trump from a prior phone calls.
Speaker 1: Yeah.
Speaker 11: Then he's fifty days in. Then five oh, fifty days in.
Speaker 11: I mean one thing quickly, I'm a chip sacked. Why
Speaker 11: we like that, Lady Biden spent taxpayer money to fund
Speaker 11: a business for that ship sack, And that's why Trump
Speaker 11: wasn't changing. He isn't want to use taxpayer money to
Speaker 11: fund a private business. That's what that was about, which
Speaker 11: I support. Okay, Okay, that was that about.
Speaker 3: How do you feel after the performance of the stock
Speaker 3: market in the last ten days.
Speaker 11: It's a correction, then it is what it is. Then,
Speaker 11: I mean my heroes up and then down. You know,
Speaker 11: I mean, I get it. You know it's a correction,
Speaker 11: and I've watched people today.
Speaker 1: I get it.
Speaker 11: Don't freak out. He's fifty days in. Joe Biden left.
Speaker 1: Us in a mess.
Speaker 11: He would blow money out like water, So like, how
Speaker 11: can it you know, just fifty days. He's not more
Speaker 11: than fifty days? Is binding four years?
Speaker 4: Don't panic.
Speaker 3: I'm not panicking. I'm not panicking. I'm not asking questions.
Speaker 3: I'm asking questions. That's what I do for a living.
Speaker 3: I asked questions again.
Speaker 11: But the thing, like the thing was like totally like
Speaker 11: he was as like went off the rails and Joe
Speaker 11: Biden have the same.
Speaker 10: Wait.
Speaker 3: The Zolensky situation was the result of bad staff work, okay,
Speaker 3: because Zolensky never should have been invited to the White House.
Speaker 3: If if there was even an inkling that that meeting
Speaker 3: was going to blow up, You've never seen.
Speaker 11: I know, but Dererey had a deal already lying up
Speaker 11: just to sign. They just wanted to do a correct
Speaker 11: first thing in the front.
Speaker 3: You know what I'm saying to you, and I don't
Speaker 3: think you're you're hearing me, is it was bad staff
Speaker 3: work on the Trump administration that never should have happened.
Speaker 3: Zelenski never should have been invited to the White House
Speaker 3: until it was signed, sealed, and delivered. And you don't
Speaker 3: freelance in front of the media in the Oval Office
Speaker 3: and have a meeting devolved to what that what that
Speaker 3: was that's bad staff work. All right, Mike, I got
Speaker 3: one more. I'm gonna give you. Thank you much, have
Speaker 3: a good one. Let me go to Jim and hide park. Jim,
Speaker 3: you are next on nice. I go ahead, Jim.
Speaker 1: Hey, thanks there. I enjoy your prokrew very well. But
Speaker 1: I got one problem here, and.
Speaker 3: I was just you just got one problem, come on,
Speaker 3: good with this one.
Speaker 1: I have a lot furthermore. But I was always too
Speaker 1: to follow the money, mister muss is fine. Uh what
Speaker 1: was that about fifty so many thousands of people? And
Speaker 1: he's often him twenty five thousand dollars to quit the cut?
Speaker 1: Just where is that money coming from? With the coming
Speaker 1: in the way it is?
Speaker 3: Yeah? Know what he what he said was and I
Speaker 3: don't I don't know where that figure of the twenty
Speaker 3: five thousand came from. Remember, initially they said, if you
Speaker 3: choose to resign from office, you will be you will
Speaker 3: be paid through September. Now, knowing the federal the average
Speaker 3: federal salary in Washington, that's a lot more than twenty
Speaker 3: five thousand dollars, Okay, So I mean it's it's it's
Speaker 3: probably more like seventy five thousand, and what they didn't
Speaker 3: do was they should. So if you're some sixty nine
Speaker 3: year old old employee and you're ready to retire, why
Speaker 3: not take take the puye out? They should have said,
Speaker 3: it should have been. It just wasn't done well.
Speaker 1: He did out understood if you took a buyout, you
Speaker 1: couldn't get unemployment. Is that correct?
Speaker 10: No?
Speaker 3: I don't think so.
Speaker 5: You might be.
Speaker 3: You may be right, but it would seem to me
Speaker 3: that before I would take a buyout, I would want
Speaker 3: to know, you know, depending upon your circumstances. If I
Speaker 3: had another job lined up, I wouldn't worry about unemployment.
Speaker 3: But if I was taking a buyout, uh and didn't
Speaker 3: have a job prospect lined up, you bet I've contributed,
Speaker 3: you know, would have contributed to the unemployment fund. So,
Speaker 3: Jimmy Ray's good questions I don't have. I don't have
Speaker 3: all the answers, But do me a favor. Keep calling.
Speaker 3: I'll give you more time next time. Thanks for calling. Okay,
Speaker 3: keep calling because you made some really good points. And
Speaker 3: there's a lot of this stuff which I don't know
Speaker 3: the answer to, and I want to know the answer to.
Speaker 3: I want to know who are these people? Yeah, that's it.
Speaker 3: We've been we've been told a lot of stuff and
Speaker 3: we haven't represented with a lot of evidence. That troubles me,
Speaker 3: that worries me.
Speaker 1: Okay, Okay, talk to you soon.
Speaker 3: Thanks. Okay, we're gonna get Lola in here from San Diego. Lola,
Speaker 3: I can give you only about a minute, but boy,
Speaker 3: it's good to hear your voice.
Speaker 10: How you doing, Wow, Dan, Well, everything's the same as
Speaker 10: it was before I left. But we're talking about, you know,
Speaker 10: not what's going on in Watertown, but what's going on
Speaker 10: in the country. So, yep, a couple of couple of
Speaker 10: quick things. We had all these beautiful factories in the
Speaker 10: North East corridor and they moved him to the south
Speaker 10: because the labor was cheaper. So all the cotton mills
Speaker 10: went to Alabama. And then they figured out it's cheaper,
Speaker 10: bigger profit margin to go to Mexico.
Speaker 3: Yep.
Speaker 10: So the greedy, greedy CEOs and CFOs of the United States.
Speaker 3: Lola, I got ten seconds for you. You got to
Speaker 3: finish in ten seconds.
Speaker 10: Well, you were talking about all the businesses going to Mexico.
Speaker 10: That's why.
Speaker 3: Now okay, well we'll see, we'll see, Lola. I flat
Speaker 3: out of time. I got a run. Thank you so
Speaker 3: much for calling. We're done for the night. Rob Brooks,
Speaker 3: great job, Marie, a great job. All the callers, all
Speaker 3: the listeners, all dogs, all cats, all pets go to heaven.
Speaker 3: That's my Pelle, Charlie Rays, who passed fifteen years ago
Speaker 3: in February. That's all. Your pets are our past. They
Speaker 3: loved you and you love them. I do think you'll
Speaker 3: see them again. I hope to see Gandemore night at
Speaker 3: Night's side.
Speaker 1: Everyone.
Speaker 3: Thanks so much for listening. Have a great Tuesday. Everyone.
Speaker 3: I'll be on Facebook in just a couple of minutes.