1 00:00:00,080 --> 00:00:04,679 Speaker 1: And hello, Hi, How are you welcome to the Big Podcast. 2 00:00:04,719 --> 00:00:08,439 Today is Tuesday. It is the twelfth day of August, 3 00:00:09,080 --> 00:00:11,519 year of our lower twenty twenty five. My name is 4 00:00:11,519 --> 00:00:15,320 Tom Sullivan. Well, busy day today. We've got a lot 5 00:00:15,359 --> 00:00:18,719 to cover. I've got to follow up on the story 6 00:00:18,800 --> 00:00:21,839 still kind of ranking Number one today is about what's 7 00:00:21,879 --> 00:00:24,559 going on in Washington, d C. And the federal government 8 00:00:25,280 --> 00:00:27,800 taking control of the city and the police in order 9 00:00:27,879 --> 00:00:31,000 to knock down the crime. And we've got a lot 10 00:00:31,039 --> 00:00:34,439 to cover there. We've got the big meeting in Russia, 11 00:00:34,600 --> 00:00:38,840 the big meeting in Alaska with Russian President Putin and 12 00:00:39,000 --> 00:00:42,640 President Trump on Friday. We'll get you set up for 13 00:00:42,759 --> 00:00:45,280 some of the thoughts on that and the economy. We 14 00:00:45,359 --> 00:00:50,560 got the inflation rate out today and there was no nothing, 15 00:00:50,679 --> 00:00:53,520 nothing rattled the cages there. So we'll get into all 16 00:00:53,560 --> 00:00:55,479 of that. But let me start with Washington, d C. 17 00:00:56,479 --> 00:01:01,719 Because I yesterday I was talking about and I know 18 00:01:01,799 --> 00:01:04,480 that you're supposed to I guess if you're pro Trump, 19 00:01:04,519 --> 00:01:07,200 you're supposed to rave about how this is going to 20 00:01:07,239 --> 00:01:09,920 be so wonderful, and if you don't like Trump, you 21 00:01:09,959 --> 00:01:13,280 think this is the worst thing ever that could possibly 22 00:01:13,280 --> 00:01:17,959 have I'm not either of those. I just look at 23 00:01:18,000 --> 00:01:21,120 it and I really do hope that it would make 24 00:01:21,200 --> 00:01:25,840 some difference. And of course we're all rooting for less crime. 25 00:01:26,920 --> 00:01:29,439 I just Washington d C. I know it well enough 26 00:01:29,480 --> 00:01:31,799 to know that Washington, d C. Has had a high 27 00:01:31,879 --> 00:01:36,439 crime rate for as long as I can remember. And 28 00:01:37,079 --> 00:01:41,439 so yesterday statistics came out that well, look at this, 29 00:01:41,560 --> 00:01:43,959 the crime rate's been dropping. Why the crime rate is 30 00:01:44,000 --> 00:01:46,439 down to a thirty year low. We played a clip 31 00:01:46,480 --> 00:01:52,840 of Cash Patel, the FBI director, reading off the statistics, saying, 32 00:01:52,879 --> 00:01:57,040 this is the lowest we've had in thirty years. I 33 00:01:57,079 --> 00:01:59,319 thought it was funny because of the fact that he 34 00:01:59,439 --> 00:02:01,719 was supposed to be on the podium with the President 35 00:02:01,760 --> 00:02:04,280 and the Attorney General talking about how they're going to 36 00:02:04,280 --> 00:02:06,560 crack down on crime, and he gets up there and says, wow, 37 00:02:06,560 --> 00:02:09,400 it looks like crimes come down quite a bit. So 38 00:02:10,360 --> 00:02:17,280 statistics are nice, But the argument today is that that's 39 00:02:17,360 --> 00:02:22,120 not what people are experiencing. The problem with that sort 40 00:02:22,120 --> 00:02:24,360 of thing is all of you. I don't care if 41 00:02:24,400 --> 00:02:28,159 you live in small town USA or you live in 42 00:02:28,199 --> 00:02:33,080 New York City, you may or probably don't have much 43 00:02:33,800 --> 00:02:37,319 interaction with crime. But when it happens to you, it's 44 00:02:37,360 --> 00:02:40,080 a big deal. So there's now a bunch of people 45 00:02:40,120 --> 00:02:42,759 today out there talking about why I saw a guy 46 00:02:42,800 --> 00:02:45,759 shot in front of me, why there was a my 47 00:02:45,919 --> 00:02:49,199 house was broken into, my car was broken. So they've 48 00:02:49,199 --> 00:02:56,039 got all these anecdotal stories about crime. My problem isn't 49 00:02:56,039 --> 00:03:00,240 about any of that. The point I'm trying to make 50 00:03:00,400 --> 00:03:04,560 about the federal government stepping in to Washington, d C. 51 00:03:05,520 --> 00:03:07,120 Is that I don't know if they're going to be 52 00:03:07,159 --> 00:03:10,240 able to really accomplish anything. And that's what drives me 53 00:03:10,319 --> 00:03:14,599 crazy about government. They come up with some policy that 54 00:03:14,840 --> 00:03:20,639 does nothing effectively zero. And I have always in my 55 00:03:20,759 --> 00:03:24,000 business life, you don't waste your time on something that's 56 00:03:24,039 --> 00:03:28,479 not going to lead to some good result. You go 57 00:03:28,560 --> 00:03:32,240 on to something else. And what I'm referring to is 58 00:03:32,879 --> 00:03:38,719 that Washington is federal territory. It's not a state. They 59 00:03:38,800 --> 00:03:41,680 answer the organizational charge. Yeah, they've got a mayor and 60 00:03:41,719 --> 00:03:44,680 a chief of police and all that, but they answer 61 00:03:44,719 --> 00:03:48,960 to Congress and the President. So nineteen seventy three, Congress 62 00:03:49,000 --> 00:03:54,800 passed the Home Rule Act, and the Home Rule Act 63 00:03:55,000 --> 00:03:58,599 says it allows the President to take control of the 64 00:03:58,719 --> 00:04:02,439 DC police for forty eight hours if he determines that 65 00:04:02,520 --> 00:04:07,520 special conditions of an emergency nature exists. Well, you're talking 66 00:04:07,560 --> 00:04:12,400 about riots something like that in nineteen seventy three, coming 67 00:04:12,479 --> 00:04:16,000 off the Civil Rights Act, the Civil Rights Act, and 68 00:04:16,040 --> 00:04:20,040 then the civil rights riots going on in cities across 69 00:04:20,120 --> 00:04:22,920 America in the late sixties early seventies, So that's what 70 00:04:23,040 --> 00:04:26,319 that was about. It goes on to say forty eight 71 00:04:26,319 --> 00:04:29,959 hour period can be extended if he notifies the relevant 72 00:04:30,240 --> 00:04:35,160 congressional committees. I don't know which committees those are, but 73 00:04:35,279 --> 00:04:38,360 then you can be extended. Doesn't say for how long. 74 00:04:39,279 --> 00:04:44,279 And finally that president can take control for over thirty 75 00:04:44,360 --> 00:04:48,160 days only if it's passed into law. So he's got 76 00:04:48,160 --> 00:04:52,839 to go to Congress, and Congress I know they're worthless. 77 00:04:53,399 --> 00:04:57,600 They have to sit down and debate some new law 78 00:04:57,800 --> 00:05:00,759 and then pass it and then go to the president 79 00:05:00,800 --> 00:05:03,000 for signature. So I'm looking at this and I'm going 80 00:05:03,360 --> 00:05:06,759 you're not going to solve the crime problem in Washington, 81 00:05:06,839 --> 00:05:10,040 d C. In forty eight hours, okay, Tom, But they 82 00:05:10,040 --> 00:05:13,000 have thirty days, okay. So they get the extension to 83 00:05:13,040 --> 00:05:15,360 thirty days. You're not going to solve it in thirty days. 84 00:05:16,040 --> 00:05:19,879 To my point about this is not going to lead 85 00:05:20,519 --> 00:05:25,519 to Diddley Squad. It will sound good, there will be 86 00:05:25,560 --> 00:05:31,000 a lot of good soundbites, but I'm telling you, people 87 00:05:31,079 --> 00:05:34,560 are all twisted into a pretzel over this whole thing. 88 00:05:34,920 --> 00:05:38,759 I just told the whole thing is well, you can 89 00:05:38,800 --> 00:05:42,480 speculate on why they're doing this, but I just don't 90 00:05:42,519 --> 00:05:47,600 think it's going to change the crime rate in Washington, 91 00:05:47,680 --> 00:05:50,279 d C. If I was a criminal and I knew 92 00:05:50,279 --> 00:05:53,560 that they got the National Guard and all these other 93 00:05:53,680 --> 00:05:58,399 things out there to supplement the DC police, I just 94 00:05:58,519 --> 00:06:02,399 cool my jets for thirty days. Yeah, all right, So 95 00:06:02,519 --> 00:06:05,199 I can't go out there and break into cars this week. 96 00:06:05,519 --> 00:06:08,600 I'll wait until thirty days go by. Then I'm going 97 00:06:08,680 --> 00:06:11,759 to go back out to committee my crimes. I don't know. 98 00:06:12,199 --> 00:06:17,040 Harry Anton, the statistician over at CNN, had a look 99 00:06:17,079 --> 00:06:18,279 at this. Here's his take. 100 00:06:18,600 --> 00:06:20,800 Speaker 2: No, No, they hate this whole idea. I think there's 101 00:06:21,160 --> 00:06:23,680 some idea out there that trumps somehow a conquering hero. 102 00:06:23,759 --> 00:06:26,120 But he's in fact is welcomed in Washington, d C. 103 00:06:26,399 --> 00:06:28,879 As Eagles fans are Commander's games. What are we talking 104 00:06:28,920 --> 00:06:30,920 about here, Well, they could take a look here. DC 105 00:06:31,040 --> 00:06:33,839 residents on Trump and local issues, He's too involved. Look 106 00:06:33,879 --> 00:06:37,439 at this, seventy one percent say he is too involved, 107 00:06:37,439 --> 00:06:40,360 and this course was even before Monday's actions, compared to 108 00:06:40,519 --> 00:06:43,439 just eleven percent, just eleven percent who say they want 109 00:06:43,519 --> 00:06:46,720 him more involved. In fact, a majority of every single 110 00:06:46,959 --> 00:06:49,560 demo tested by The Washington Post and a poll earlier 111 00:06:49,600 --> 00:06:51,600 this year, found that they believed that he was in 112 00:06:51,639 --> 00:06:55,319 fact too involved. DC residents hate, hate this whole idea 113 00:06:55,319 --> 00:06:57,839 of Trump getting involved in local issues. Yeah, okay, so 114 00:06:57,920 --> 00:07:00,480 let's talk about that a little bit right. Residence on 115 00:07:00,519 --> 00:07:03,199 the top problem facing DC crime, violence, and guns in 116 00:07:03,199 --> 00:07:05,680 twenty twenty two was thirty six percent, but look at this, 117 00:07:06,040 --> 00:07:09,399 it dropped fifteen points to twenty one percent earlier this year. 118 00:07:09,680 --> 00:07:12,360 I should note that about fifty percent of DC residents 119 00:07:12,360 --> 00:07:16,319 do believe that crime is extremely a very important problem. 120 00:07:16,439 --> 00:07:19,480 But even that fifty percent is down from sixty five 121 00:07:19,480 --> 00:07:22,240 percent back in twenty twenty four. So DC residents, like 122 00:07:22,240 --> 00:07:25,680 the crime statistics themselves, suggest that crime is becoming less 123 00:07:25,680 --> 00:07:27,800 of an issue in our nation's capital. And at this 124 00:07:27,839 --> 00:07:30,680 particular point, just twenty one percent of DC residents in 125 00:07:30,680 --> 00:07:34,279 fact believe that the top problem facing Washington, DC is crime, violence, 126 00:07:34,319 --> 00:07:35,800 and guns and that might be part of the reason 127 00:07:35,800 --> 00:07:38,680 why DC residents in fact believe that Trump's getting too 128 00:07:38,720 --> 00:07:42,040 involved in local issues and won't exactly like this move. Yeah, 129 00:07:42,040 --> 00:07:44,519 a lot of people have been concentrating on the policy 130 00:07:44,839 --> 00:07:46,759 of this decision by President Trump, but I think it's 131 00:07:46,759 --> 00:07:49,879 also important to point out the politics of this decision 132 00:07:49,920 --> 00:07:52,439 and just talk about one reason why Donald Trump might 133 00:07:52,480 --> 00:07:55,079 not like Washington DC besides the crime issue, and that 134 00:07:55,199 --> 00:07:57,279 is because take a look at all of the counties 135 00:07:57,480 --> 00:08:00,839 or the county equivalents nationwide, we're talking over three thousand. 136 00:08:01,040 --> 00:08:04,120 Where did Donald Trump do the worst in twenty twenty four, Well, 137 00:08:04,160 --> 00:08:06,560 he did the worst in Washington DC, getting just six 138 00:08:06,879 --> 00:08:10,560 point five percent of the vote. The vast, vast majority, 139 00:08:10,639 --> 00:08:14,519 ninety percent plus of DC voters went against Donald Trump. Again, 140 00:08:14,639 --> 00:08:16,879 I just think it's so important to point out that 141 00:08:16,959 --> 00:08:20,079 DC residents don't like this move, and they really don't 142 00:08:20,160 --> 00:08:23,319 like President Trump. They hate Donald Trump, they hate Republicans. 143 00:08:23,439 --> 00:08:26,160 Over and over again, they have voted against Donald Trump, 144 00:08:26,279 --> 00:08:28,720 voted against Republicans and again on the crime issue. That's 145 00:08:28,720 --> 00:08:31,800 so important. A smaller and smaller percentage going down, down, down. 146 00:08:32,000 --> 00:08:34,840 Believe it is the top problem in our nation's capital 147 00:08:35,960 --> 00:08:36,679 So there you go. 148 00:08:37,120 --> 00:08:39,919 Speaker 1: The people of DC don't want anything to do with this. 149 00:08:40,039 --> 00:08:43,120 They don't like Donald Trump, they don't like Republicans. And 150 00:08:43,240 --> 00:08:46,480 you heard Harry, They've only six percent of the people 151 00:08:47,000 --> 00:08:50,080 that are residents of Washington, d C. Voted for Donald Trump. 152 00:08:50,600 --> 00:08:53,279 It's a political thing with him. They don't like Republicans, 153 00:08:53,320 --> 00:08:56,840 they don't like him, they don't want him involved. So 154 00:08:58,039 --> 00:09:01,679 that's it's their crime. If they won't live in a 155 00:09:01,799 --> 00:09:03,840 high crime city, it's up to them to figure out 156 00:09:03,840 --> 00:09:08,639 the solution. Megan Hayes is a big Democrat. She was 157 00:09:08,679 --> 00:09:13,159 on Biden's communication team. She thinks it's a trap for Democrats. 158 00:09:13,200 --> 00:09:16,320 Speaker 3: Listen, well, I think democrats have learned in the last 159 00:09:16,320 --> 00:09:19,080 election and how Donald Trump continues to frame things that 160 00:09:19,159 --> 00:09:22,159 talking about crime and immigration are two things that pull 161 00:09:22,360 --> 00:09:25,320 very popular with the American people. So when Democrats come 162 00:09:25,360 --> 00:09:27,559 out here and say, don't believe you're lying eyes DC 163 00:09:27,720 --> 00:09:30,639 doesn't have crime, nobody actually believes that, and it just 164 00:09:30,679 --> 00:09:33,559 falls into Donald Trump's messaging. In Donald Trump's trap because 165 00:09:33,720 --> 00:09:36,039 we just look crazy saying that. And so I think 166 00:09:36,039 --> 00:09:38,039 that it's smart for Mary Hobauser to come out and 167 00:09:38,080 --> 00:09:40,200 say we're going to work with you We're excited you're here. 168 00:09:40,240 --> 00:09:41,759 We wish you we would have done this differently, and 169 00:09:41,759 --> 00:09:44,080 we wish you would have you know, it is concerning 170 00:09:44,120 --> 00:09:45,720 to us, but we wish you would have worked with us. 171 00:09:45,720 --> 00:09:47,879 But we're not going to say, don't believe you're lying eyes. 172 00:09:48,720 --> 00:09:50,799 Speaker 1: The guy that agrees with her is on the opposite 173 00:09:50,799 --> 00:09:54,159 side of the aisle. He speaks for conservative Scott Jennings. 174 00:09:54,679 --> 00:09:55,679 He thinks she's right. 175 00:09:56,120 --> 00:09:56,960 Speaker 4: I totally agree. 176 00:09:57,039 --> 00:10:00,360 Speaker 5: I think that anybody who visits Washington on a regular basis, 177 00:10:00,360 --> 00:10:02,759 anybody who lives there, would tell you the city is unsafe. 178 00:10:02,759 --> 00:10:05,440 This argument that some people are putting forth that it's 179 00:10:05,759 --> 00:10:08,080 a totally safe place to be and the president's making 180 00:10:08,159 --> 00:10:09,480 up this crisis. 181 00:10:09,519 --> 00:10:10,879 Speaker 1: No, it's an emergency. 182 00:10:10,919 --> 00:10:12,759 Speaker 5: I mean, I myself saw a body hit the floor 183 00:10:12,799 --> 00:10:14,840 at the bottom of the escalator and Union station back 184 00:10:14,840 --> 00:10:17,000 in February. An eighteen year old kid was gunned down 185 00:10:17,000 --> 00:10:21,200 and murdered there in cold blood. So I think Megan 186 00:10:21,279 --> 00:10:23,919 is on the strategic piece is exactly right. I think 187 00:10:23,960 --> 00:10:26,720 Democrats did the same thing on immigration. Frankly, you know, 188 00:10:26,759 --> 00:10:28,799 the president says I want to crack down on immigration 189 00:10:28,919 --> 00:10:32,000 and have some internal enforcement and shut down the border 190 00:10:32,000 --> 00:10:34,440 and Democrats of course, went all in on defending the 191 00:10:34,480 --> 00:10:36,360 other position. I think he's going to find a lot 192 00:10:36,399 --> 00:10:38,960 of political support around the country for the idea that 193 00:10:39,000 --> 00:10:41,279 our national capital should be safer than it is. 194 00:10:41,679 --> 00:10:44,919 Speaker 1: It should be safer, all big cities should be safer. 195 00:10:44,960 --> 00:10:47,879 But I don't know how you're going to exactly eliminate crime. 196 00:10:48,440 --> 00:10:51,600 More importantly, I go back to the process of this 197 00:10:51,679 --> 00:10:54,559 is limited to forty eight hours or gets extended all 198 00:10:54,559 --> 00:10:57,840 the way out to thirty days, and I'm going whooped 199 00:10:57,879 --> 00:11:01,159 the dew. They're not going to solve the crime in Washington, 200 00:11:01,279 --> 00:11:05,639 DC in that period of time. But the police will 201 00:11:05,840 --> 00:11:10,639 like it because they're going to have eight hundred National 202 00:11:10,720 --> 00:11:15,080 Guard that will supplement them being eyes and ears out 203 00:11:15,279 --> 00:11:19,159 on the street trying to stop crime. Paul Moraw, former 204 00:11:19,399 --> 00:11:22,960 lieutenant with the NYPD, thinks they're going to like it. 205 00:11:23,200 --> 00:11:25,320 Speaker 6: Yeah, they're going to welcome it because they're going to 206 00:11:25,320 --> 00:11:27,759 get the assistance that they need in various things that 207 00:11:27,799 --> 00:11:29,720 are the kind of things they don't want to do. 208 00:11:29,879 --> 00:11:32,360 Let's tease it out. When you have something like the 209 00:11:32,440 --> 00:11:35,559 National Guard coming in, right, they're not trained to go in. 210 00:11:35,639 --> 00:11:38,919 Let's say, do search warrants, make arrests street encounters, but 211 00:11:38,960 --> 00:11:41,559 they're almost certainly going to be used for is prophylactic 212 00:11:41,639 --> 00:11:45,399 things that rely upon their professional presence. So we're going 213 00:11:45,440 --> 00:11:48,000 to have a curfew, right. They're actually have already put 214 00:11:48,000 --> 00:11:50,360 that in place, and in some cases they're actually making 215 00:11:50,360 --> 00:11:52,799 it even more draconian because they want the young kids 216 00:11:52,840 --> 00:11:55,279 who are committing a lot of these crimes off your streets. Well, 217 00:11:55,679 --> 00:11:58,600 if you have around some of the trouble areas stationed 218 00:11:58,720 --> 00:12:01,440 National Guard, some bi people that are going around that 219 00:12:01,480 --> 00:12:05,240 are visible, that stops stuff before it happens. It's a 220 00:12:05,279 --> 00:12:08,360 great force multiplier and it saves the police from having 221 00:12:08,440 --> 00:12:10,200 to do that kind of stuff, frees them up to 222 00:12:10,240 --> 00:12:12,480 handle the jobs that are coming over to radio, to 223 00:12:12,519 --> 00:12:14,480 go to the house, knock on the door, ma'am you 224 00:12:14,559 --> 00:12:16,840 called nine one one, what's going on? And that's the 225 00:12:16,919 --> 00:12:19,039 kind of thing that makes it easier for the cops 226 00:12:19,080 --> 00:12:20,600 to get out there to do the job they expect 227 00:12:20,639 --> 00:12:22,919 to do, as opposed to chasing the radio all night 228 00:12:23,039 --> 00:12:25,080 or standing around in front of seven eleven because it 229 00:12:25,159 --> 00:12:26,639 constantly gets shoplifted. 230 00:12:27,080 --> 00:12:29,519 Speaker 1: The biggest problem not only in Washington you see, but 231 00:12:29,639 --> 00:12:32,919 other cities as well, has a lot more to do 232 00:12:33,000 --> 00:12:35,279 not with the police. The police are doing their job 233 00:12:35,360 --> 00:12:38,360 the best they can possibly do. But you have a 234 00:12:38,399 --> 00:12:42,960 city council that is very, very left and they have 235 00:12:44,840 --> 00:12:49,519 the requirement for cash bail. They have reduced all kinds 236 00:12:49,559 --> 00:12:53,480 of crimes so that they're not felt responsible. They know 237 00:12:53,600 --> 00:12:55,600 they can commit the crime and nothing will happen to them, 238 00:12:55,639 --> 00:13:00,639 especially the juveniles. They are getting away with literally murder. 239 00:13:00,679 --> 00:13:04,559 Steve Moore, former FBI guy, this is his team. 240 00:13:04,840 --> 00:13:08,399 Speaker 7: You know. The best example I can give is that 241 00:13:09,200 --> 00:13:12,399 there's there's a heart surgeon and there's an orthopedist. They're 242 00:13:12,440 --> 00:13:15,600 both doctors. They're both great, they know what they're doing, 243 00:13:15,639 --> 00:13:18,440 and they're experts in their field, but they don't cover 244 00:13:18,519 --> 00:13:22,039 for each other when they're on vacation. You're not going 245 00:13:22,120 --> 00:13:24,600 to have a heart surgeon working on your knees and 246 00:13:24,679 --> 00:13:28,440 the orthopedis working on your heart in the same way, 247 00:13:28,559 --> 00:13:32,200 and maybe not to such a severe extent. The FBI 248 00:13:32,399 --> 00:13:36,440 are investigators. They do make arrests. They do, you know, 249 00:13:36,480 --> 00:13:39,360 their SWAT teams go out and do make violent crime 250 00:13:39,440 --> 00:13:43,480 arrests in you know, gangs and things like this. And 251 00:13:43,639 --> 00:13:49,159 police departments though know their streets, they know they have 252 00:13:49,279 --> 00:13:53,039 kind of tribal knowledge of what's going on in their areas, 253 00:13:53,440 --> 00:13:57,000 and they understand the city and they patroled. That is 254 00:13:57,080 --> 00:14:02,080 the difference. FBI agents investigate, they don't. So while there 255 00:14:02,120 --> 00:14:05,440 are law enforcement skills that are common, there has to 256 00:14:05,480 --> 00:14:09,639 be some kind of way that they can melt their skills. 257 00:14:09,960 --> 00:14:12,799 Speaker 1: Again, it's not about the police on the street or 258 00:14:12,840 --> 00:14:17,080 the FBI or the National Guard in Washington, d C. 259 00:14:17,399 --> 00:14:21,039 The judges are letting these people go in one door 260 00:14:21,080 --> 00:14:24,480 and out the other without any sort of penalty. They've 261 00:14:24,480 --> 00:14:29,120 got prosecutors, they're sorows funded prosecutors that don't want to 262 00:14:29,200 --> 00:14:32,559 prosecute a lot of the crimes that are taking place. 263 00:14:33,120 --> 00:14:36,600 And again they got the no cash bail situation, which 264 00:14:36,720 --> 00:14:39,159 if we haven't learned anything by now, it's been tried 265 00:14:39,200 --> 00:14:42,120 a number of places, and wherever it's been tried, crime 266 00:14:42,240 --> 00:14:45,720 has got has skyrocketed. I get it. If you're not 267 00:14:46,000 --> 00:14:48,320 going to be held responsible, why not go out and 268 00:14:48,320 --> 00:14:51,080 commit another crime. You don't have to pay any bail. 269 00:14:51,120 --> 00:14:53,120 They let you ride out the door. You don't get 270 00:14:53,159 --> 00:14:56,360 you don't have to sit behind bars. There's enough. There's 271 00:14:56,360 --> 00:15:01,279 no downside to committing crimes. Jim Trustee for Er DOJ 272 00:15:01,559 --> 00:15:05,919 Lawyer makes the point that the progressive city Council and 273 00:15:06,039 --> 00:15:08,679 judges is really the main problem. 274 00:15:09,159 --> 00:15:11,240 Speaker 4: I think it's a combination. I mean, the DC Council 275 00:15:11,320 --> 00:15:15,240 certainly has gone progressive in terms of softening notions of 276 00:15:15,320 --> 00:15:18,080 like bail, you know, not allowing for a cash bail, 277 00:15:18,120 --> 00:15:20,440 which I think is a horribly stupid idea. It basically 278 00:15:20,480 --> 00:15:23,440 means a whole bunch of offenders learn the lesson that 279 00:15:23,480 --> 00:15:25,879 they're not going to be arrested even when they get caught. 280 00:15:26,080 --> 00:15:28,000 And so I think there's room for reform there. But 281 00:15:28,000 --> 00:15:30,720 I gotta tell you, juvenile stuff is a tough thicket. 282 00:15:30,759 --> 00:15:30,919 Speaker 1: You know. 283 00:15:31,000 --> 00:15:33,120 Speaker 4: This is a difficult area where you have to pour 284 00:15:33,240 --> 00:15:35,600 resources in, where you have to figure out ways to 285 00:15:35,600 --> 00:15:40,600 have residential confinement for juveniles, which is expensive and challenging, 286 00:15:41,000 --> 00:15:43,279 and there's a lot to it. I mean, President Trump 287 00:15:43,320 --> 00:15:46,480 and Judge Janine are taking on something that I don't 288 00:15:46,519 --> 00:15:48,879 think is political at all, because the good politics would 289 00:15:48,879 --> 00:15:51,080 be to walk away and let d C fester. But 290 00:15:51,120 --> 00:15:54,279 they're taking on a very challenging, difficult area. It's going 291 00:15:54,320 --> 00:15:58,000 to require federal resources and DC resources to ever try 292 00:15:58,000 --> 00:16:00,000 to make it right. I think it's got a chance 293 00:16:00,240 --> 00:16:02,120 if you're serious about it. You know the problem is 294 00:16:02,440 --> 00:16:04,759 federal prosecution is not much of an option when it 295 00:16:04,799 --> 00:16:07,919 comes to juveniles. But federal resources can help. They're a 296 00:16:07,960 --> 00:16:11,639 force multiplier for the metropolitan police. You can make some 297 00:16:11,679 --> 00:16:14,960 good gang cases, make some good carjacking cases, hopefully have 298 00:16:15,000 --> 00:16:17,799 a little deterrence kick in and knock down that rate. 299 00:16:18,000 --> 00:16:22,279 Speaker 1: So I will hold back my tongue if you will 300 00:16:22,639 --> 00:16:26,639 on making a judgment about this until after the thirty days. 301 00:16:26,679 --> 00:16:29,159 See if Congress passes a law to allow the federal 302 00:16:29,159 --> 00:16:31,279 government to stay there for a long period of time, 303 00:16:31,559 --> 00:16:34,039 which it will take to really make a difference. It 304 00:16:34,080 --> 00:16:36,399 will take years to make a difference in the crime 305 00:16:36,480 --> 00:16:41,759 rate in Washington, DC. Big meeting on Friday. The President 306 00:16:42,120 --> 00:16:47,919 and President Putin are going to meet in Alaska. Kurt Volker, 307 00:16:48,399 --> 00:16:52,720 That's what he does, is all this international intrigue. Here's 308 00:16:52,759 --> 00:16:55,759 his view of what he thinks will happen or not 309 00:16:55,960 --> 00:16:57,039 happen on Friday. 310 00:16:57,799 --> 00:17:00,679 Speaker 8: Well, Vladimir Putin wants to see what he can extract 311 00:17:00,679 --> 00:17:03,919 from Trump. He wants to see whether Trump would agree 312 00:17:04,000 --> 00:17:08,240 to commit to supporting the transfer of territory from Ukraine 313 00:17:08,240 --> 00:17:13,039 to Russia, and in particular the Dombas Region Crimea, and 314 00:17:13,079 --> 00:17:17,079 then they occupy parts of two other regions, Zaparisha and Herson, 315 00:17:17,359 --> 00:17:19,519 and he wants to see whether Trump would commit to 316 00:17:19,960 --> 00:17:23,079 Ukraine being pressure to hand over that territory. I think 317 00:17:23,079 --> 00:17:25,480 he's misreading Trump. I don't think Trump is going to 318 00:17:25,559 --> 00:17:27,359 do that at all. I think He's going to say, look, 319 00:17:28,599 --> 00:17:30,599 there's got to be a deal here. I'm not just 320 00:17:30,640 --> 00:17:35,799 going to cause Ukraine to surrender. And remember, before going 321 00:17:35,839 --> 00:17:41,400 into this meeting, Putin actually increased his demands. He's occupying 322 00:17:41,440 --> 00:17:44,480 parts of those four provinces already. He said he wants 323 00:17:44,599 --> 00:17:48,440 Ukraine to withdraw from territory in the Dombas that it 324 00:17:48,480 --> 00:17:53,240 doesn't currently control that Russia doesn't currently control, as well 325 00:17:53,279 --> 00:17:55,480 as hang on to the parts of Zaparisia and Airsol. 326 00:17:55,839 --> 00:17:59,359 So this is actually demanding everything. I don't think Trump's 327 00:17:59,359 --> 00:18:01,839 going to be very sad aside with the conversation, but 328 00:18:01,920 --> 00:18:05,039 I also don't think that he's ready to pressure Ukraine 329 00:18:05,079 --> 00:18:06,240 to accept a bad deal. 330 00:18:06,279 --> 00:18:06,519 Speaker 5: I'd it. 331 00:18:07,200 --> 00:18:09,799 Speaker 8: Yeah, Well, that's exactly Putin's strategy. As you say, he 332 00:18:09,880 --> 00:18:13,039 wants to deal directly with the US over the heads 333 00:18:13,039 --> 00:18:15,359 of the Ukrainians and over the heads of the Europeans. 334 00:18:15,920 --> 00:18:19,839 But as we know, first off, President Trump is not 335 00:18:19,960 --> 00:18:22,359 in a position to cut a deal with Putin because 336 00:18:22,359 --> 00:18:25,000 it's not his territory, it's not his country, it's Ukraine. 337 00:18:25,079 --> 00:18:27,039 So the Ukrainians have to agree if there's going to 338 00:18:27,039 --> 00:18:30,400 be any deal. And secondly, the Europeans are on the 339 00:18:30,400 --> 00:18:33,799 hook to actually back it up. When we talk about 340 00:18:33,839 --> 00:18:38,200 defense spending, buying American arms, providing them to Ukraine, security 341 00:18:38,240 --> 00:18:41,480 of NATO, security of the European Union, that is all 342 00:18:41,519 --> 00:18:44,519 on the line. And so the Europeans who have to 343 00:18:44,559 --> 00:18:48,200 actually put up the funding for all this, they want 344 00:18:48,240 --> 00:18:50,240 to be sure that they agree with where this is going. 345 00:18:50,279 --> 00:18:52,440 To tell you where I think this wants to go. 346 00:18:53,440 --> 00:18:57,039 It wants to be a ceasefire in place, just where 347 00:18:57,119 --> 00:19:03,519 it is. The fighting stops. Recognition of Russia's illegal claims 348 00:19:03,519 --> 00:19:06,480 to Ukrainian territory, but no fighting to take it back. 349 00:19:06,680 --> 00:19:10,720 We just have a tense standoff that then enables the 350 00:19:10,759 --> 00:19:14,640 EU and European NATO states to lean in help build 351 00:19:14,680 --> 00:19:18,920 up Ukraine's military, their politics, their economy, get them stronger, 352 00:19:19,359 --> 00:19:24,279 and provide security guarantees that they will help to ensure 353 00:19:24,319 --> 00:19:27,759 that there aren't further Russian attacks once to cease fire 354 00:19:27,839 --> 00:19:31,079 is in place, and then this situation can last a 355 00:19:31,079 --> 00:19:33,640 long time, just like we had a divide to Germany 356 00:19:33,680 --> 00:19:36,279 for forty years, just like we had the Baltic States 357 00:19:36,279 --> 00:19:39,039 occupied for forty years. This can last a long time, 358 00:19:39,079 --> 00:19:43,240 but it can create some measure of stability and lack 359 00:19:43,319 --> 00:19:46,240 of fighting, so Ukraine can start to rebuild itself. 360 00:19:46,680 --> 00:19:46,839 Speaker 9: Yeah. 361 00:19:46,920 --> 00:19:50,160 Speaker 8: I do not expect a deal at all, partly because 362 00:19:50,160 --> 00:19:53,400 Putin's not ready to deal, he wants everything, and partly 363 00:19:53,440 --> 00:19:56,920 because President Trump knows that he can't make a deal 364 00:19:56,960 --> 00:19:59,640 with Putin and then just turn to the Ukrainians and say, 365 00:19:59,640 --> 00:20:02,519 now you implemented. The Ukrainians have a stake in this. 366 00:20:03,039 --> 00:20:04,920 So I don't expect a deal. But I do see 367 00:20:04,920 --> 00:20:07,680 what Trump is doing. He is stirring the pot, He's 368 00:20:07,720 --> 00:20:11,720 getting everybody talking, He's raising expectations that Putin needs to 369 00:20:11,759 --> 00:20:14,640 stop the war, and he is setting the stage for 370 00:20:14,880 --> 00:20:18,079 I believe a Trump Zelensky Putin mooting later on. 371 00:20:18,720 --> 00:20:20,920 Speaker 1: So there may not much be much that comes out 372 00:20:20,920 --> 00:20:24,319 of this meeting. Even the President was saying today that 373 00:20:24,359 --> 00:20:27,839 I think his expectations are somewhat in check. 374 00:20:28,440 --> 00:20:30,880 Speaker 10: This is really a feel out meeting, A little bit, 375 00:20:31,559 --> 00:20:36,559 and President Putin invited me to get involved. There'll be 376 00:20:36,640 --> 00:20:40,640 some land swapping going on. I know that through Russia 377 00:20:40,680 --> 00:20:44,480 and through conversations with everybody, to the good for the 378 00:20:44,480 --> 00:20:47,960 good of Ukraine. Good stuff, not bad stuff, also some 379 00:20:48,079 --> 00:20:49,400 bad stuff for both. 380 00:20:49,920 --> 00:20:52,160 Speaker 1: Oh, he's looking for some good stuff and some bad stuff. 381 00:20:54,359 --> 00:20:58,599 Frederick v Legen is a correspondent based in Moscow, and 382 00:20:58,640 --> 00:21:01,720 this is what he's here. From the Russian side. 383 00:21:01,440 --> 00:21:03,559 Speaker 11: Well, Kremlin certainly also sees it as somewhat of a 384 00:21:03,599 --> 00:21:05,880 feel out meeting. It's unclear whether or not any results 385 00:21:05,920 --> 00:21:07,559 are actually going to be reached. However, one of the 386 00:21:07,559 --> 00:21:09,160 things that we're seeing thing of this week is that 387 00:21:09,240 --> 00:21:12,759 the new strategy that the Kremlin seems to have before 388 00:21:13,000 --> 00:21:15,599 this meeting on Friday is to let President Trump pretty 389 00:21:15,640 --> 00:21:17,960 much do all of the talking. The last time that 390 00:21:18,000 --> 00:21:20,440 we've heard from a senior Kremlin official, or that we've 391 00:21:20,440 --> 00:21:24,039 heard from Russia's president himself, Vladimir Putin, was this past Friday, 392 00:21:24,039 --> 00:21:26,440 when the Russians confirmed that the meeting would be in Alaska. 393 00:21:26,880 --> 00:21:29,079 The Russians have a bit of a different take on 394 00:21:29,200 --> 00:21:31,519 things than what we just heard there from President Trump. 395 00:21:31,559 --> 00:21:33,839 Of course, President Trump saying that it was the Russians 396 00:21:33,880 --> 00:21:36,680 who wanted him to get involved and asked for this meeting. However, 397 00:21:36,759 --> 00:21:39,599 senior Kremlin aide said that it was actually the US 398 00:21:39,599 --> 00:21:41,240 that put a proposal on the table, and that for 399 00:21:41,279 --> 00:21:44,920 the Russians that proposal was, as they put it acceptable. 400 00:21:44,960 --> 00:21:47,279 Now at the same time that the Russians are remaining 401 00:21:47,519 --> 00:21:49,799 mute on what exactly the summit can achieve and what 402 00:21:49,839 --> 00:21:53,480 their strategy for it is, we do see Kremlin controlled media, 403 00:21:53,559 --> 00:21:56,839 Russian state media certainly trying to capitalize on things. The 404 00:21:56,880 --> 00:21:59,200 big message that's going on there is that Russia is 405 00:21:59,279 --> 00:22:02,960 starting to make ever larger territorial gains, especially on the 406 00:22:02,960 --> 00:22:05,359 eastern front in Ukraine. There's talk of a lot of 407 00:22:05,440 --> 00:22:08,039 momentum over the past couple of days, and that that's 408 00:22:08,039 --> 00:22:11,839 something that's going to strengthen Vladimir Putin's hand as he 409 00:22:11,920 --> 00:22:15,200 goes into that summit with US President Donald Trump. One 410 00:22:15,240 --> 00:22:17,279 of the things, of course, that the Russians have said 411 00:22:17,279 --> 00:22:20,160 that as far as they're concerned, they have not changed 412 00:22:20,200 --> 00:22:23,599 their stance on Ukraine, which of course has been pretty 413 00:22:23,640 --> 00:22:26,759 much from the get go that they want territorial concessions 414 00:22:26,799 --> 00:22:29,480 from the Ukrainians. They don't want Ukraine to become a 415 00:22:29,519 --> 00:22:32,559 member of NATO, and the pretty much also want the 416 00:22:32,640 --> 00:22:35,640 Ukrainians to all but disarm as well. So certainly it 417 00:22:35,640 --> 00:22:37,599 seems so it could be a difficult meeting. But the 418 00:22:37,680 --> 00:22:40,200 Russians so far not showing their hand as to what 419 00:22:40,240 --> 00:22:42,559 they might put on the table for President Trump to see. 420 00:22:42,559 --> 00:22:45,480 Speaker 1: That might take away simple there's nothing that's going to 421 00:22:45,480 --> 00:22:48,519 come from this meeting. And it's another strategy that Vladimir 422 00:22:48,559 --> 00:22:51,759 Putin is famous for, which is just keep kicking the 423 00:22:51,759 --> 00:22:54,359 can down the road. He wants to keep fighting. The 424 00:22:54,400 --> 00:22:56,759 fighting is not going to stop. People are still going 425 00:22:56,839 --> 00:23:00,720 to die. But they will have had their meeting. Then 426 00:23:00,799 --> 00:23:05,279 what do they do. So this is it's interesting to watch, 427 00:23:05,359 --> 00:23:08,079 but I will be shocked if they actually come out 428 00:23:08,079 --> 00:23:12,240 of the meeting with anything of substance. The economy here 429 00:23:13,400 --> 00:23:18,319 is plugging along. We got our inflation numbers out this morning, 430 00:23:19,200 --> 00:23:24,559 and yeah, the consumer price index it was up two 431 00:23:24,799 --> 00:23:29,799 ten seven percent year over year, inflation at two point 432 00:23:29,920 --> 00:23:34,160 seven percent. The core rate, which is you take out 433 00:23:34,200 --> 00:23:37,480 food and energy and everything else you buy, it was 434 00:23:37,599 --> 00:23:41,920 up three point one percent year over year, so that's 435 00:23:42,039 --> 00:23:48,680 higher than expected. But it was really focused on services. 436 00:23:48,920 --> 00:23:54,279 Services are airline fares, things like that way up much 437 00:23:54,319 --> 00:23:57,920 more than goods. Goods were rather subdued. So the inflation 438 00:23:58,480 --> 00:24:00,519 is not on the things that you pick up at 439 00:24:00,559 --> 00:24:05,279 the grocery store necessarily. It is on the services industry 440 00:24:05,279 --> 00:24:09,920 out there. Insurance, where you get your hair cut, airline fares, 441 00:24:09,960 --> 00:24:12,759 all that is all part of the services sector, and 442 00:24:12,799 --> 00:24:15,720 that is where there's more inflation than in the goods area. 443 00:24:16,279 --> 00:24:23,920 So energy prices down, shelter housing, all that up. Food 444 00:24:24,480 --> 00:24:31,240 pretty much unchanged. Stu Leonard is a big grocer in 445 00:24:31,279 --> 00:24:34,400 the New York City area, has a number of big stores, 446 00:24:34,559 --> 00:24:40,079 very popular grocer, and he was asked about the grocery 447 00:24:40,119 --> 00:24:41,480 prices in particular. 448 00:24:41,920 --> 00:24:45,200 Speaker 12: You know, ribby states are huge, and meat prices have 449 00:24:45,240 --> 00:24:49,960 gone up. We're at a historic low herd size in America, 450 00:24:50,079 --> 00:24:54,279 so the supply is very low and prices ap picked up. 451 00:24:54,319 --> 00:24:57,319 I just talked to our beat fire this morning and 452 00:24:57,359 --> 00:25:01,559 he said he's feeling even more escalation and meat could 453 00:25:01,559 --> 00:25:05,440 be around eighty cents to a dollar a pound coming 454 00:25:05,519 --> 00:25:08,920 up to the holidays. Another thing that's really vague as 455 00:25:08,960 --> 00:25:13,599 we have shrimp, you know, and you know right now 456 00:25:14,000 --> 00:25:17,319 we can either get it from Ecuador, we could get 457 00:25:17,319 --> 00:25:21,680 it from India, but the bay there India has huge tariffs, 458 00:25:21,680 --> 00:25:24,960 so we're not buying it from India right now. That's 459 00:25:25,000 --> 00:25:29,200 fifty percent, I believe, and now Ecuador is that fifteen percent. 460 00:25:29,359 --> 00:25:33,240 So we're trying to move our shrimp production over the Ecuador, 461 00:25:33,599 --> 00:25:36,359 which is huge. We do a half a million pounds 462 00:25:36,400 --> 00:25:39,640 of shrimp a year at Stud Leonard, So it's a 463 00:25:39,680 --> 00:25:44,079 big thing. Coffee is that's a supply and demand issue 464 00:25:44,160 --> 00:25:48,119 right now. They're having some you know, heat problems and 465 00:25:48,440 --> 00:25:52,920 weather problems, so coffee prices and spikes. But you know, 466 00:25:53,000 --> 00:25:55,759 this is a big one here because you know, usually 467 00:25:55,799 --> 00:25:59,119 what we can do here is I can resource product 468 00:25:59,519 --> 00:26:01,519 sort of like what I did during COVID. We were 469 00:26:01,599 --> 00:26:04,880 jumping all around trying to buy product from all over 470 00:26:04,920 --> 00:26:07,200 the world, and we're doing the same thing now because 471 00:26:07,200 --> 00:26:10,799 of the tariffs. So bananas is one thing. It's a 472 00:26:10,880 --> 00:26:13,960 fifteen percent terraff from Costa Rica. We don't grow them 473 00:26:13,960 --> 00:26:18,119 in America, so you have to import those and that's 474 00:26:18,119 --> 00:26:21,799 a fifteen percent tariff. Are importers eating the whole thing? 475 00:26:21,839 --> 00:26:24,920 They have not raised the price yet. So I talked 476 00:26:24,920 --> 00:26:28,559 to our buyers this morning, the Caesar Colm, We have 477 00:26:28,680 --> 00:26:31,440 not raised prices at stew Lenards due to the tariffs. 478 00:26:31,759 --> 00:26:35,599 We've had a little bit of increase in things like 479 00:26:36,079 --> 00:26:40,440 aluminum trays from some China and stuff negligible. We haven't 480 00:26:40,519 --> 00:26:44,599 raised prices, but I don't see that happening unless this 481 00:26:44,720 --> 00:26:48,559 tariff thing gets worked out by really next month or 482 00:26:48,599 --> 00:26:49,400 even October. 483 00:26:50,039 --> 00:26:51,799 Speaker 1: So I hear that a lot. There's a lot of 484 00:26:51,839 --> 00:26:56,079 companies that are trying to not raise prices. They've got 485 00:26:56,480 --> 00:26:59,079 a lot of them were able to buy inventory before 486 00:26:59,119 --> 00:27:02,880 the teriffs went into effect, but that inventory is starting 487 00:27:02,920 --> 00:27:06,920 to be diminished to the point where they don't have 488 00:27:07,079 --> 00:27:09,160 much of it left, and when they run out of that, 489 00:27:09,200 --> 00:27:12,400 they're going to be faced with raising prices. Or in 490 00:27:12,400 --> 00:27:16,160 the case of grocers, their margin, their profit margin is 491 00:27:16,200 --> 00:27:19,799 only two maybe three percent, so they don't have a 492 00:27:19,799 --> 00:27:23,440 lot of room if prices that they've got to pay 493 00:27:23,480 --> 00:27:28,599 go up fifteen percent. So anyway, it's part of the 494 00:27:28,599 --> 00:27:33,799 inflation story. By the way, the new head of the 495 00:27:33,799 --> 00:27:37,599 Bureau of Labor Statistics, his name is ej. Antoni, and 496 00:27:38,400 --> 00:27:42,400 he is talking about don't have this confirmed yet, but 497 00:27:42,480 --> 00:27:46,799 he's talking about just not even reporting the jobs report 498 00:27:46,920 --> 00:27:51,279 for months until they get their Act together over at 499 00:27:51,319 --> 00:27:55,000 the Bureau of Labor Statistics. So I don't know if 500 00:27:55,039 --> 00:27:59,759 this was the last CPI report for a while, but 501 00:27:59,839 --> 00:28:03,319 we're going to well it's it's it's garbage in, garbage out. 502 00:28:03,519 --> 00:28:07,880 Jim Kramer and David Faber over at CNBC were committing 503 00:28:07,920 --> 00:28:09,359 about it earlier this morning. 504 00:28:09,400 --> 00:28:11,200 Speaker 13: Ball As started to come around with the idea that 505 00:28:11,279 --> 00:28:13,119 all these numbers need to be rethought. 506 00:28:14,000 --> 00:28:15,680 Speaker 9: What do you mean when you say that? I mean 507 00:28:15,720 --> 00:28:18,200 I would think this number was important. Obviously, the Fed 508 00:28:18,279 --> 00:28:20,400 continues to look for real impacts, and I don't. 509 00:28:20,279 --> 00:28:22,680 Speaker 14: Know prices for the tariffs, and it's not happening here 510 00:28:22,880 --> 00:28:27,880 Labor Statistics. So I mean, like, hey, goodbye, because you're 511 00:28:27,920 --> 00:28:29,720 not going to believe them any longer as a result 512 00:28:29,799 --> 00:28:30,960 of the change in leadership there. 513 00:28:31,000 --> 00:28:32,480 Speaker 10: No, I'm not I'm not going to leave anything. 514 00:28:32,920 --> 00:28:33,680 Speaker 8: Well that's not good. 515 00:28:33,680 --> 00:28:37,359 Speaker 9: How are you supposed to navigate macroeconomic Look at company 516 00:28:37,400 --> 00:28:37,920 and the market. 517 00:28:37,920 --> 00:28:38,759 Speaker 1: I'm looking at companies. 518 00:28:38,799 --> 00:28:41,559 Speaker 13: I'm not going to have people buy and sell based 519 00:28:41,599 --> 00:28:45,119 on that nonset. So that buy and sell because the 520 00:28:45,160 --> 00:28:47,960 company is doing better or worse all this compact, say 521 00:28:48,039 --> 00:28:49,559 one of my Starbucks. But I look at the bo 522 00:28:49,640 --> 00:28:51,279 lesson and says she's I don't know, food at home 523 00:28:51,400 --> 00:28:54,079 is off? Should not buy Starbucks. That's the kind of 524 00:28:54,119 --> 00:28:56,759 thing that's happening to our audience. They're like saying, well, 525 00:28:56,880 --> 00:28:57,720 I guess they don't mean it. 526 00:28:57,759 --> 00:28:58,400 Speaker 7: Buy Starbucks. 527 00:28:59,079 --> 00:29:00,000 Speaker 1: Let's rewind for a second. 528 00:29:00,079 --> 00:29:03,319 Speaker 9: And so the fact that the president got rid of 529 00:29:03,319 --> 00:29:05,759 the person running the BLS mattered to you, Well. 530 00:29:05,640 --> 00:29:06,640 Speaker 1: Who's turning right now? 531 00:29:06,880 --> 00:29:11,200 Speaker 9: Just like nobody, he's got somebody in mind to talk about. 532 00:29:11,359 --> 00:29:15,000 Speaker 13: Who's running right now? Chat ept who's running? That would 533 00:29:15,039 --> 00:29:18,759 be back crock. I mean, like hello, ans rob It, 534 00:29:19,039 --> 00:29:19,640 who's running? 535 00:29:19,680 --> 00:29:22,920 Speaker 9: I'm sure there are a lot of very well meaning 536 00:29:23,119 --> 00:29:26,039 employees who work their butts off still trying to get 537 00:29:26,079 --> 00:29:29,240 all the information they can. Jim, I would assume that's. 538 00:29:29,119 --> 00:29:30,200 Speaker 7: The show was sweetie. 539 00:29:30,599 --> 00:29:33,119 Speaker 13: I can ask you, a nice guy, why should I 540 00:29:33,160 --> 00:29:34,160 trust these numbers? 541 00:29:34,480 --> 00:29:37,000 Speaker 1: So he didn't trust the numbers because of all the 542 00:29:37,039 --> 00:29:42,119 massive revisions. And now you have a new appointee that 543 00:29:42,720 --> 00:29:44,960 people will look at and go, is this new guy 544 00:29:45,119 --> 00:29:49,480 going to do political numbers so that he keeps Donald 545 00:29:49,519 --> 00:29:52,720 Trump happy? So I'm not sure if I can trust them, 546 00:29:52,720 --> 00:29:55,839 and they might be politics involved. So that's why Kramer 547 00:29:55,960 --> 00:29:58,599 is going nuts, saying I don't know what numbers to 548 00:29:59,759 --> 00:30:06,319 try anymore. Peter Earle, big economist, after seeing the three 549 00:30:06,559 --> 00:30:11,160 point one percent core CPI number, is react. 550 00:30:11,480 --> 00:30:13,400 Speaker 8: So first I just want to say legs are hard. 551 00:30:13,480 --> 00:30:15,279 Speaker 15: It's very hard to tell what a policy gets put 552 00:30:15,319 --> 00:30:17,079 in place when it's going to hit the economy. So 553 00:30:17,119 --> 00:30:19,440 that's the first thing. The second thing is that I'm 554 00:30:19,480 --> 00:30:21,839 not really a big fan of these numbers. My guess 555 00:30:21,920 --> 00:30:24,519 is that this reading the core number is a combination 556 00:30:24,920 --> 00:30:27,599 of tariff passed through as Steve said, but also there's 557 00:30:27,640 --> 00:30:30,559 some further prices in some consumer categories. Some surveys have 558 00:30:30,640 --> 00:30:34,319 showed that some retailers have accelerated their price increases as 559 00:30:34,319 --> 00:30:36,359 they're drawing down inventory that they built up early in 560 00:30:36,400 --> 00:30:40,319 the year, things like household furnishings, recreational products in peril, 561 00:30:40,319 --> 00:30:41,960 all which come from China, or most of which come 562 00:30:42,000 --> 00:30:45,559 from China. So we knew that terrefold cost pressures were 563 00:30:45,559 --> 00:30:47,680 going to be a key upside going to this release. 564 00:30:48,039 --> 00:30:50,880 Not as bad as we thought, but I mean still, 565 00:30:50,880 --> 00:30:52,359 this is going to complicate the work of the FEDER. 566 00:30:52,400 --> 00:30:55,640 Speaker 1: Bit it will complicate the work of the FED. Their 567 00:30:55,680 --> 00:31:00,200 next meeting is mid September, and there's a ninety percent 568 00:31:00,319 --> 00:31:03,640 chance that they will be cutting interest rates in that meeting, 569 00:31:03,960 --> 00:31:06,680 so by a quarter of a percent. Some people are 570 00:31:06,759 --> 00:31:08,960 mumbling about a half a percent. I don't think so. 571 00:31:09,839 --> 00:31:13,720 But the tariffs are poking their head up just a 572 00:31:13,839 --> 00:31:17,440 little bit, not making a big impact. A lot of 573 00:31:17,440 --> 00:31:20,400 people are still working down on the inventory they bought 574 00:31:20,480 --> 00:31:24,759 before the tariffs went into effect, but they're not widespread. 575 00:31:24,759 --> 00:31:27,279 But a lot of the economists are saying it's coming. 576 00:31:28,160 --> 00:31:30,960 But they also said a recession was coming and never 577 00:31:31,079 --> 00:31:34,920 gave So we'll wait and see what happens to prices 578 00:31:35,200 --> 00:31:40,079 and the impact from the tariffs. So despite the higher 579 00:31:40,119 --> 00:31:44,400 inflation numbers, what it does do is it gives they're 580 00:31:44,440 --> 00:31:48,079 just slightly higher. So what it does give is that 581 00:31:48,240 --> 00:31:50,839 opportunity for the Fed to drop their interest rates, which 582 00:31:50,880 --> 00:31:55,720 made Wall Street happy today. Dow Jones Industrials up four 583 00:31:55,799 --> 00:31:59,400 one hundred eighty three to close it forty four four 584 00:31:59,519 --> 00:32:03,359 fifty eight, SMP up seventy two. By the way, that's 585 00:32:03,359 --> 00:32:05,960 a new all time record for standard and porters five 586 00:32:06,039 --> 00:32:11,640 hundred sixty four forty five. Nasdaq up two hundred ninety six. 587 00:32:12,039 --> 00:32:14,319 So all in all, today was a good day, gold 588 00:32:14,839 --> 00:32:18,400 four dollars higher at thirty four h three, and oil 589 00:32:18,519 --> 00:32:21,440 prices down just a little more than a dime at 590 00:32:21,720 --> 00:32:25,880 sixty three dollars for a barrel of oil. Thank you 591 00:32:26,079 --> 00:32:28,759 for coming by today, have yourself a wonderful rest of 592 00:32:28,759 --> 00:32:31,160 your day, and we'll see you back here again tomorrow