1 00:00:21,879 --> 00:00:25,160 Speaker 1: And here we are. How about that we made it 2 00:00:25,320 --> 00:00:30,399 to Black Friday. Welcome to the Big Podcast. It is Friday, 3 00:00:30,559 --> 00:00:33,960 the twenty eighth day of November, year of all our 4 00:00:34,039 --> 00:00:37,399 twenty twenty five. My name is Tom Sullivan, and yeah, 5 00:00:38,039 --> 00:00:45,439 Black Friday's underway. The numbers are shocking to me, but 6 00:00:45,920 --> 00:00:51,000 they should not be. Retail people are expecting one trillion 7 00:00:51,200 --> 00:00:55,439 dollars will be spent during this holiday seasons of between 8 00:00:55,479 --> 00:01:02,600 now and Christmas. I presume a trillion dollars. I know 9 00:01:02,719 --> 00:01:06,599 that it seems like it's excessive, doesn't it. So we'll 10 00:01:06,640 --> 00:01:08,680 start with that. We've got other things as well. We'll 11 00:01:08,719 --> 00:01:15,159 get you an update on all things involving the shooter, 12 00:01:15,359 --> 00:01:19,319 the shooting in Washington, d C. Of the two National 13 00:01:19,359 --> 00:01:25,560 guardsmen since we last were together on Wednesday. Sadly, the 14 00:01:25,599 --> 00:01:29,840 news came that the woman that was shot, the National 15 00:01:29,840 --> 00:01:34,200 guards woman that was shot has died. She was shot 16 00:01:34,239 --> 00:01:40,159 in the head, and the other guardsman, the male, is 17 00:01:40,239 --> 00:01:44,640 still in critical condition. So we pray for his speedy recovery. 18 00:01:44,959 --> 00:01:47,400 But let's start. Let's get Let's get started on this 19 00:01:47,439 --> 00:01:52,760 Black Friday with retail sales. Ryan Westberry. 20 00:01:53,120 --> 00:01:53,799 Speaker 2: I like him. 21 00:01:53,879 --> 00:01:57,560 Speaker 1: He's an economist. I've talked to him for years. He's 22 00:01:57,640 --> 00:02:03,280 the chief economist at First Trust, and he was asked 23 00:02:03,359 --> 00:02:08,039 all about this business of shopping and retail. 24 00:02:08,840 --> 00:02:11,360 Speaker 3: I go on Amazon, and you know what, to order 25 00:02:12,000 --> 00:02:15,080 a detergent for my washing machine, and I can pay 26 00:02:15,199 --> 00:02:18,919 for it in for installments. Now it's it's really amazing, 27 00:02:19,319 --> 00:02:22,960 and obviously this does encourage people. The savings rate in 28 00:02:23,000 --> 00:02:26,759 the United States keeps falling, and that worries me a 29 00:02:26,800 --> 00:02:31,080 little bit because savings in the end really equates to investment, 30 00:02:31,960 --> 00:02:35,240 and people are saving a lot less and consuming a 31 00:02:35,280 --> 00:02:35,719 lot more. 32 00:02:35,759 --> 00:02:37,840 Speaker 2: We need to really watch that. 33 00:02:37,960 --> 00:02:41,240 Speaker 3: I think personal responsibility has slipped a little bit in 34 00:02:41,280 --> 00:02:44,159 the last decade or so. But our economy is really 35 00:02:44,199 --> 00:02:47,400 interesting right now because if you have assets, if you 36 00:02:47,479 --> 00:02:49,719 own a home, if you have a four oh one k, 37 00:02:49,879 --> 00:02:53,800 if you own equities, you have really won. And the 38 00:02:53,840 --> 00:02:56,800 wealth effect is pulling a lot of that spending up. 39 00:02:57,120 --> 00:03:00,360 People without assets are having a tougher time, but. 40 00:03:00,960 --> 00:03:02,280 Speaker 2: Spending keeps going up. 41 00:03:02,319 --> 00:03:05,000 Speaker 3: It is amazing, and I think a lot of it 42 00:03:05,039 --> 00:03:07,199 has to do with the fact that we just lauded 43 00:03:07,319 --> 00:03:10,680 the system with money and we've been doing it since 44 00:03:10,719 --> 00:03:13,639 two thousand and eight, and then again in COVID and 45 00:03:13,680 --> 00:03:15,240 that money eventually gets that. 46 00:03:15,879 --> 00:03:18,240 Speaker 1: Yes, it does get spent, and that drives the economy. 47 00:03:18,280 --> 00:03:22,280 Consumer spending drives about two thirds of the economic engine 48 00:03:22,319 --> 00:03:25,479 in our country. The problem is is that a lot 49 00:03:25,520 --> 00:03:28,120 of that money was government money that was pushed into 50 00:03:28,120 --> 00:03:33,039 the system as opposed to earned body. Matthew Shay, he's 51 00:03:33,159 --> 00:03:38,199 the head of the National Retail Federation, and let's see 52 00:03:38,240 --> 00:03:40,840 what he thinks is going to happen this holiday season. 53 00:03:41,000 --> 00:03:43,599 Speaker 4: We're looking for a record holiday season this year. Our 54 00:03:43,680 --> 00:03:47,879 forecast that we released on November six preducts that we're 55 00:03:47,919 --> 00:03:50,199 going to have between three point seven and four point 56 00:03:50,240 --> 00:03:53,319 two percent growth over last year's holiday, so we'll be 57 00:03:53,360 --> 00:03:56,039 more than a trillion dollars in sales for the first 58 00:03:56,080 --> 00:03:59,280 time ever. So very big holiday. And I think that's 59 00:03:59,319 --> 00:04:02,199 really driven by the deals that are out there, the 60 00:04:02,240 --> 00:04:07,120 promotional opportunities, and consumers really thinking about the holiday season 61 00:04:07,919 --> 00:04:10,159 as a special time of year. They prepare for it, 62 00:04:10,199 --> 00:04:13,719 they plan for it, and we're seeing consumers behaving in 63 00:04:13,840 --> 00:04:19,519 smarter and savvier ways than ever, really timing their purchases, 64 00:04:19,879 --> 00:04:23,279 looking for sales, finding those opportunities to get the right 65 00:04:23,319 --> 00:04:26,040 gift at the right price, and retailers are meeting them 66 00:04:26,680 --> 00:04:30,519 with affordable opportunities to really serve them what they need, 67 00:04:31,279 --> 00:04:33,839 when they need it, and at the price they're looking for. 68 00:04:33,920 --> 00:04:37,399 So we're looking for a great, strong holiday season. This 69 00:04:37,480 --> 00:04:41,839 is the event that retailers plan for all year long. 70 00:04:42,800 --> 00:04:46,040 They work very closely with their supplier partners, with vendors, 71 00:04:46,839 --> 00:04:51,519 with their teams internally on marketing, on inventory, on pricing, 72 00:04:52,519 --> 00:04:56,120 and testing the consumer market of course constantly to find 73 00:04:56,160 --> 00:05:01,160 out what's being purchased, how consumers are respon. So I 74 00:05:01,199 --> 00:05:03,720 think we're in a very good place. Inventory has been 75 00:05:03,720 --> 00:05:08,040 managed very very effectively, and the CEOs and senior retail 76 00:05:08,079 --> 00:05:10,759 leaders with whom we've had conversations have made it clear 77 00:05:11,439 --> 00:05:15,519 that they're ready, they're prepared, They've dealt with the uncertainties 78 00:05:15,560 --> 00:05:18,040 that are out there that we've been talking about all 79 00:05:18,120 --> 00:05:21,079 year long, and so they've got the inventory in the 80 00:05:21,160 --> 00:05:23,959 right places at the right prices, and they'll be able 81 00:05:24,000 --> 00:05:27,199 to meet consumer demand throughout the next throughout the next 82 00:05:27,240 --> 00:05:27,519 four and. 83 00:05:27,480 --> 00:05:28,079 Speaker 2: A half weeks. 84 00:05:28,439 --> 00:05:31,560 Speaker 4: Yeah, it's certainly true that consumers have a high degree 85 00:05:31,600 --> 00:05:35,920 of awareness about pricing because inflation has been lingering in 86 00:05:36,000 --> 00:05:40,000 the economy for the last five years. It's something that 87 00:05:40,199 --> 00:05:43,519 consumers think about constantly. There's a high degree of price sensitivity, 88 00:05:44,360 --> 00:05:47,279 and retailers have been preparing for this by again working 89 00:05:47,319 --> 00:05:49,360 with their vendors. But you know, the nature of the 90 00:05:49,399 --> 00:05:52,279 tariffs were sort of on again, off again all year long, 91 00:05:52,399 --> 00:05:57,240 start stop, and retailers are purchasing inventory many months in advance, 92 00:05:57,759 --> 00:06:01,120 so lots of these goods were brought in in advance 93 00:06:01,160 --> 00:06:04,480 of tariff implications, so they were brought in at pre 94 00:06:04,600 --> 00:06:08,800 tariff prices. They're they're able to pass along those savings 95 00:06:08,800 --> 00:06:11,639 and discounts to consumers, and they're also able to work 96 00:06:11,680 --> 00:06:15,079 across their entire supply chain so as not to raise 97 00:06:15,160 --> 00:06:19,319 prices on consumers. I think retailers have been very very 98 00:06:19,360 --> 00:06:23,439 conscious of price sensitivity on behalf of consumers, worked very 99 00:06:23,519 --> 00:06:25,720 very hard to give them great value and have a 100 00:06:25,759 --> 00:06:27,040 really strong holiday season. 101 00:06:27,360 --> 00:06:30,360 Speaker 1: Yes, it is true that a lot of retailers were 102 00:06:30,399 --> 00:06:34,879 buying their products back in April and May and June 103 00:06:34,959 --> 00:06:38,279 before the teriffs kicked in, But at the same time 104 00:06:40,120 --> 00:06:43,040 they're very nervous about it. I mean, he's the head 105 00:06:43,040 --> 00:06:45,199 of the National Retail Federation, so he's going to sound 106 00:06:45,279 --> 00:06:48,319 very positive, but they're very nervous about whether or not 107 00:06:48,399 --> 00:06:51,480 people are going to step up and shop as much 108 00:06:51,519 --> 00:06:53,839 as they have in the past. Like I said, one 109 00:06:54,439 --> 00:06:57,920 trillion dollars seems to be mind blowing to me that 110 00:06:57,959 --> 00:06:59,959 they that people will spend that much money between them 111 00:07:00,839 --> 00:07:03,360 and Christmas. The other thing is that, I mean, one 112 00:07:03,360 --> 00:07:05,920 of the other indicators is I don't know about you, 113 00:07:06,040 --> 00:07:11,560 but in my travels, they've been advertising Black Friday specials 114 00:07:11,600 --> 00:07:16,279 for the last four weeks, So that was an indication 115 00:07:16,439 --> 00:07:19,879 to me that they were already doing sales before Black 116 00:07:19,920 --> 00:07:23,480 Friday came around. Black Friday, I'll tell you this, Black 117 00:07:23,519 --> 00:07:26,399 Friday isn't what it used to be. And the reason 118 00:07:26,439 --> 00:07:30,120 why they call it Black Friday. The story goes that 119 00:07:30,879 --> 00:07:35,879 retailers were losing money all the way through the year 120 00:07:36,680 --> 00:07:41,879 until now until today, and then they finally made a 121 00:07:41,920 --> 00:07:45,839 profit and they went from from the being in the 122 00:07:45,879 --> 00:07:48,519 red to being in the black. It's not true companies 123 00:07:48,560 --> 00:07:52,600 have been making money all year long, but that's the 124 00:07:52,680 --> 00:07:57,240 story because this is really the super Bowl for retailers. 125 00:07:57,519 --> 00:07:59,480 The other thing about it that I was glad to 126 00:07:59,519 --> 00:08:05,519 see is that we've gone back to something traditional. Most 127 00:08:05,759 --> 00:08:10,120 of the big department stores, retailers, the targets, the walmarts 128 00:08:10,160 --> 00:08:14,920 and all of that. They were closed yesterday for Thanksgiving. Hooray, 129 00:08:15,600 --> 00:08:19,519 Thank goodness. Remember they started opening up like in the 130 00:08:19,600 --> 00:08:23,800 late evening after dinner, come by and start shopping. Then 131 00:08:23,839 --> 00:08:26,000 they just said forget it, just opened the doors. They 132 00:08:26,000 --> 00:08:29,800 were open all day Thanksgiving. And so I'm glad to 133 00:08:29,879 --> 00:08:34,720 see that most of the big retailers respected the holiday 134 00:08:34,799 --> 00:08:37,559 and respected the time for a lot of people to 135 00:08:37,600 --> 00:08:41,120 be with their family and friends, and they closed yesterday. 136 00:08:41,600 --> 00:08:43,879 And as a result, it was kind of fun to 137 00:08:43,960 --> 00:08:46,840 see some of the news coverage this morning of the 138 00:08:46,840 --> 00:08:50,519 big crowds outside the doors at six am so that 139 00:08:50,559 --> 00:08:53,919 they could go in there and get their doorbuster deals. 140 00:08:54,399 --> 00:08:58,279 But so Black Friday actually was, we went back to 141 00:08:58,360 --> 00:09:01,279 what it used to be. All right, let's get to 142 00:09:01,960 --> 00:09:06,840 the shooting of the National guardsmen in Washington, DC. As 143 00:09:07,000 --> 00:09:11,039 I mentioned at the top, the one, the male is 144 00:09:11,080 --> 00:09:14,759 still in critical condition, the female passed away last night. 145 00:09:15,639 --> 00:09:21,279 What was rather chilling was that eyewitness to this, eye 146 00:09:21,320 --> 00:09:24,440 witnesses to this. In fact, there's some video floating around 147 00:09:24,480 --> 00:09:29,240 online of the actual shooting itself, but that the guy 148 00:09:29,639 --> 00:09:32,799 literally ran up to them, pulled out the gun shot. 149 00:09:33,279 --> 00:09:36,840 I believe the woman first, and that brings up the 150 00:09:36,919 --> 00:09:40,159 question about since he's from Afghanistan, they have no respect 151 00:09:40,159 --> 00:09:43,080 for women. Whether he picked on her first because of 152 00:09:43,120 --> 00:09:46,159 her gender, I don't know. I don't think we'll ever know. 153 00:09:46,320 --> 00:09:51,000 But he shot her first, and then he shot her 154 00:09:51,159 --> 00:09:54,960 again as she lay on the ground, and that's how 155 00:09:55,000 --> 00:10:00,320 she got shot in the head close range. Then shot 156 00:10:00,360 --> 00:10:05,360 the other soldier the mail and he also was shot 157 00:10:05,360 --> 00:10:08,679 in the head at that point. Others there were other 158 00:10:08,879 --> 00:10:12,919 National guardsmen there that pulled out their guns and fired 159 00:10:12,960 --> 00:10:15,759 at him and shot him. But they shot him in 160 00:10:15,879 --> 00:10:19,200 the legs, so he's alive, but he has bullet wounds. 161 00:10:19,960 --> 00:10:23,320 The firearm he used happened to be the exact same 162 00:10:23,440 --> 00:10:26,919 firearm that I used when I was a highway patrolman. 163 00:10:27,039 --> 00:10:29,320 I was issued at three a Smith and Western three 164 00:10:29,399 --> 00:10:38,720 fifty seven magnum. They are very brutal weapons. The reason 165 00:10:38,960 --> 00:10:41,559 they gave is three fifty Smith and Wesson three fifty 166 00:10:41,600 --> 00:10:45,879 seven magnums was I was told. I never experienced, at 167 00:10:45,919 --> 00:10:48,240 thank goodness, that it would go through. 168 00:10:48,039 --> 00:10:48,720 Speaker 2: A car door. 169 00:10:49,440 --> 00:10:52,600 Speaker 1: If I needed to shoot somebody that was in their car, 170 00:10:53,240 --> 00:10:56,799 I could shoot through their automobile door with this gun. 171 00:10:57,080 --> 00:11:01,600 That's the gun that he used, so very powerful pistol. 172 00:11:01,960 --> 00:11:06,440 I think we have a clip of Josh Campbell, former 173 00:11:06,559 --> 00:11:09,639 FBI guy, talking about the fact that the fact that 174 00:11:09,679 --> 00:11:12,120 it was a three point fifty seven, it's an old 175 00:11:12,159 --> 00:11:15,639 style weapon. It had. It was a revolver, which meant 176 00:11:16,279 --> 00:11:21,000 there was I believe six bullets that you put into 177 00:11:21,120 --> 00:11:25,440 the to load into the gun, and so it's not 178 00:11:25,759 --> 00:11:30,120 like a lot of modern guns that they have magazines 179 00:11:30,320 --> 00:11:33,639 and that can carry a lot of bullets, but this 180 00:11:33,799 --> 00:11:36,919 is it six and it takes a little while to 181 00:11:37,039 --> 00:11:40,240 reload those things. So let me play Josh Campbell for you. 182 00:11:40,320 --> 00:11:43,559 Like I said, former FBI guy talking about what his 183 00:11:43,639 --> 00:11:45,519 observations are regarding this shooting. 184 00:11:47,039 --> 00:11:49,120 Speaker 5: Well, I think it's important for people to understand that 185 00:11:49,159 --> 00:11:53,480 the whole vetting process is inherently an imperfect process, because 186 00:11:53,600 --> 00:11:56,919 if you're running someone's name against what the US government knows, 187 00:11:57,159 --> 00:11:59,519 it's just that you're running only what they know. And 188 00:11:59,519 --> 00:12:03,279 despite myths out there, the US intelligence community isn't all seeing, 189 00:12:03,399 --> 00:12:05,519 all knowing, and so it's important to note that the 190 00:12:05,559 --> 00:12:08,679 whole vetting process can help mitigate risks of dangerous people 191 00:12:08,679 --> 00:12:11,000 coming into the country, it cannot eliminate it. 192 00:12:11,120 --> 00:12:14,120 Speaker 2: The way the process works is that the US intelligence. 193 00:12:13,759 --> 00:12:15,200 Speaker 5: Community, whether that was you know, when I was an 194 00:12:15,279 --> 00:12:19,320 FBI agent, CIA officers, NSA officers, and analysts, if they 195 00:12:19,360 --> 00:12:22,080 come across someone who is a known or suspected terrorist 196 00:12:22,200 --> 00:12:24,519 during the course of their work, they will populate that 197 00:12:24,600 --> 00:12:27,360 into these various databases. One of the key databases is 198 00:12:27,399 --> 00:12:31,159 called TIDE, and this serves as a repository. So when 199 00:12:31,240 --> 00:12:34,159 the State Department is about to issue someone at visa, 200 00:12:34,320 --> 00:12:37,440 that person's name is run against those holdings, and if 201 00:12:37,440 --> 00:12:39,919 it doesn't come up that they were in contact with someone, 202 00:12:39,960 --> 00:12:43,080 then typically that person would move far and far along 203 00:12:43,159 --> 00:12:45,600 the process. But again it's limited to what the US 204 00:12:45,679 --> 00:12:48,519 intelligence community knows. One thing I will note in this case, 205 00:12:48,919 --> 00:12:51,159 just quickly on the motive, is that we still don't 206 00:12:51,200 --> 00:12:54,360 know whether this individual was directed or inspired by a 207 00:12:54,399 --> 00:12:57,240 foreign terrorist organization or whether he was acting on some 208 00:12:57,320 --> 00:12:59,799 kind of personal grievance. Based on the facts that we 209 00:12:59,840 --> 00:13:02,519 know right now, I would be a bit surprised if 210 00:13:02,519 --> 00:13:05,600 it turns out he was directed or inspired for two 211 00:13:05,679 --> 00:13:08,679 key reasons. First, and this is grim, but you look 212 00:13:08,720 --> 00:13:11,759 at the victim pool here, two people that were shot. 213 00:13:12,000 --> 00:13:14,360 Isis didn't want two people shot, They want two hundred 214 00:13:14,399 --> 00:13:16,840 people shot. And so someone who is working at their 215 00:13:16,840 --> 00:13:19,600 direction or inspiration you would know that. And then the 216 00:13:19,600 --> 00:13:22,279 second thing I'll note is the type of weaponry really 217 00:13:22,320 --> 00:13:23,200 stands out here. 218 00:13:23,440 --> 00:13:24,960 Speaker 2: The suspect use a revolver. 219 00:13:25,200 --> 00:13:27,720 Speaker 5: This is a clunky type of firearm that could often 220 00:13:27,960 --> 00:13:30,240 take longer to reload if someone doesn't have a lot 221 00:13:30,279 --> 00:13:32,279 of experience. There are a lot of other options for 222 00:13:32,320 --> 00:13:34,919 firearms out there that allowed this person to continue to 223 00:13:34,960 --> 00:13:38,399 shoot and quickly reload, but he opted for this revolver. 224 00:13:38,480 --> 00:13:39,919 Speaker 1: So a lot of a lot of questions. I think 225 00:13:39,919 --> 00:13:41,799 it was observation about the fact that it was a 226 00:13:41,879 --> 00:13:48,679 revolver only carries six bullets. It probably is his hunch 227 00:13:48,799 --> 00:13:51,720 maybe right, that this guy was not directed by anybody, 228 00:13:52,200 --> 00:13:56,360 But at the same time, it does make you wonder. 229 00:13:56,600 --> 00:14:01,360 This guy lived in Bellingham, Washington, way up in the 230 00:14:01,480 --> 00:14:04,840 very tippy top corner of the state of Washington, about 231 00:14:04,840 --> 00:14:08,159 as far away from Washington, DC as you can get, 232 00:14:08,200 --> 00:14:11,039 and he'd take He took his family with him. He 233 00:14:11,120 --> 00:14:14,200 has five kids and a wife, so the seven of 234 00:14:14,240 --> 00:14:18,360 them piled in an automobile and drove to Washington, d C. 235 00:14:20,399 --> 00:14:22,519 Anybody want to stop him along the way, say what 236 00:14:22,559 --> 00:14:24,159 are we doing? Did he just say to them, we're 237 00:14:24,159 --> 00:14:28,120 going to go see the nation's capital. So there are 238 00:14:28,159 --> 00:14:30,639 lots of it's still very very early in a lot 239 00:14:30,679 --> 00:14:33,200 of information to come out. But this whole thing that 240 00:14:33,240 --> 00:14:36,879 he brought up, the vetting. Everybody's talking about the vetting, 241 00:14:37,879 --> 00:14:44,080 and well, here's Senator Josh Holly from Missouri who was 242 00:14:44,159 --> 00:14:49,960 This goes back to March of twenty twenty one, so 243 00:14:50,080 --> 00:14:53,279 this was two months into the Trump two point zero 244 00:14:53,279 --> 00:14:58,559 administration and he was questioning the former head of Homeland Security. 245 00:14:59,200 --> 00:15:04,679 Speaker 6: I'll majorcis the standard procedure is an in person interview 246 00:15:05,200 --> 00:15:08,840 for refugees or visa applicants. Now you've testified that you're 247 00:15:08,879 --> 00:15:11,600 not doing those interviews, that they're not happening. 248 00:15:11,799 --> 00:15:14,559 Speaker 2: No, if I made, you have just testified. 249 00:15:14,600 --> 00:15:17,639 Speaker 6: You just said that they are not being interviewed unless 250 00:15:17,639 --> 00:15:20,480 they're already in our system as a known terrorist that 251 00:15:20,519 --> 00:15:23,039 would have captured none of the nine to eleven hijackers. 252 00:15:23,320 --> 00:15:26,399 Speaker 7: If I may, Senator, that is not and I apologize 253 00:15:26,519 --> 00:15:30,879 if I was not clear. You are correct that we 254 00:15:31,000 --> 00:15:35,799 are not conducting in person full refugee interviews of one 255 00:15:35,879 --> 00:15:37,960 hundred percent of the individual. 256 00:15:38,000 --> 00:15:41,240 Speaker 2: What percentage are you conducting? I don't have that information. 257 00:15:42,240 --> 00:15:44,960 Speaker 1: He had no idea and nobody else had any idea. 258 00:15:45,720 --> 00:15:51,840 And if you remember this all happened, this panic evacuation 259 00:15:52,840 --> 00:15:57,600 of people from Afghanistan from Kabul Airport was because of 260 00:15:57,679 --> 00:16:02,600 the disaster's withdrawal that the Biden administration ordered for people 261 00:16:02,600 --> 00:16:07,399 to pull out of Afghanistan. And this was Remember the 262 00:16:07,960 --> 00:16:12,399 C seventeens were there and they packed people in on 263 00:16:12,480 --> 00:16:15,679 top of each other. There was no way they could 264 00:16:15,759 --> 00:16:19,080 vet these people. They flew that most of them I believe, 265 00:16:19,159 --> 00:16:22,519 went to Doha and we had a facility there in 266 00:16:22,559 --> 00:16:25,480 which they ran them through some sort of vetting. But 267 00:16:25,519 --> 00:16:30,759 the vetting was, as Josh Campbell said, it's only you 268 00:16:30,879 --> 00:16:33,799 only get the information that we already knew that we 269 00:16:33,799 --> 00:16:36,840 could compare. There were no records, The Taliban didn't have 270 00:16:36,879 --> 00:16:39,960 any records on these people. All we know is that 271 00:16:40,039 --> 00:16:44,360 this guy worked for US, he worked for the CIA. 272 00:16:45,200 --> 00:16:48,080 That's the group that was allowed to come. And at 273 00:16:48,080 --> 00:16:52,360 the time, I was all for bringing people out of 274 00:16:52,519 --> 00:16:58,919 Afghanistan who were loyal supporters of the US military's efforts 275 00:16:59,639 --> 00:17:04,920 in Afghanistan. I had no idea that the number apparently 276 00:17:05,119 --> 00:17:11,759 was one hundred and ninety thousand. Dan Hoffman, former CIA guy, 277 00:17:12,119 --> 00:17:14,640 I believe he had that number. But here's what he 278 00:17:14,680 --> 00:17:15,839 had to say about the vetting. 279 00:17:16,039 --> 00:17:20,400 Speaker 8: Well, I would say, first, in regarding the individual who 280 00:17:21,440 --> 00:17:28,400 who shot our brave, courageous National Guard Army officers, he 281 00:17:28,599 --> 00:17:30,640 was vetted. I'm quite sure when he was working with 282 00:17:30,680 --> 00:17:33,559 the CIA years and years ago. But one of the 283 00:17:33,599 --> 00:17:35,720 things we always believed at CIA is that if we 284 00:17:35,839 --> 00:17:40,160 vetted someone six months ago, then that vetting might have 285 00:17:40,200 --> 00:17:42,400 been good then, but it doesn't mean it's good today. 286 00:17:42,440 --> 00:17:46,079 And so the questions that remain are what motivated the shooter. 287 00:17:46,279 --> 00:17:48,839 Was he radicalized online? Was he doing the bidding of 288 00:17:48,839 --> 00:17:51,200 ISIS or all kind of There are lots of unanswered 289 00:17:51,279 --> 00:17:53,799 questions there. I also think it's time for the Trump 290 00:17:53,880 --> 00:17:57,839 administration pastime to do a zero based review of whatever 291 00:17:58,240 --> 00:18:01,720 vetting was done or not done for the Afghans, the 292 00:18:01,759 --> 00:18:04,440 tens of thousands of them who came to the United States. 293 00:18:04,599 --> 00:18:10,160 I wouldn't hold all of them responsible for this vicious 294 00:18:10,200 --> 00:18:14,599 act of one lone wolf shooter, but it's still, from 295 00:18:14,640 --> 00:18:17,039 a policy perspective, an important step to take. 296 00:18:17,319 --> 00:18:21,119 Speaker 1: So the President wants to re examine all of these 297 00:18:21,200 --> 00:18:25,480 Afghan refugees, and Dan Hoffman seems to agree, well. 298 00:18:25,319 --> 00:18:28,839 Speaker 8: I think the administration needs to do a zero based 299 00:18:28,839 --> 00:18:32,920 review to determine how when they were vetted and determine 300 00:18:32,920 --> 00:18:34,720 whether additional vetting is required. 301 00:18:34,759 --> 00:18:37,079 Speaker 2: I think that's something that they may be looking at. 302 00:18:37,279 --> 00:18:38,559 What about motives? 303 00:18:38,599 --> 00:18:42,319 Speaker 1: Can you find out at this early stage what the 304 00:18:42,359 --> 00:18:43,839 motives of the shooter would be? 305 00:18:44,519 --> 00:18:46,920 Speaker 2: I mean, the possibilities are endless. 306 00:18:46,960 --> 00:18:49,559 Speaker 8: Frankly, it's certainly what we need to be If I 307 00:18:49,599 --> 00:18:51,960 were at CIA, what I'd be worried about is that 308 00:18:52,160 --> 00:18:55,359 he had been radicalized online, that he was in touch 309 00:18:55,480 --> 00:18:58,680 even with ISIS operatives or al Qaeda operatives who were 310 00:18:58,759 --> 00:19:01,920 encouraging him to do this, or perhaps he was radicalized 311 00:19:03,240 --> 00:19:07,319 online without having direct contact with with terrorists overseas. But 312 00:19:07,400 --> 00:19:09,319 those are the key questions we need to answer. Is 313 00:19:09,359 --> 00:19:11,720 this part of the network, and if so, we need 314 00:19:11,759 --> 00:19:14,880 to find where that network leads us and ensure that 315 00:19:14,920 --> 00:19:17,640 further attacks don't take place. So I think there's just 316 00:19:17,680 --> 00:19:19,279 a lot of work yet to be done. 317 00:19:19,799 --> 00:19:23,000 Speaker 1: Yeah, the National Guard is still on duty in Washington, DC, 318 00:19:23,640 --> 00:19:27,240 and they're going to be sending five hundred more. I 319 00:19:27,279 --> 00:19:30,799 don't think that helps personally. I think what what the 320 00:19:30,799 --> 00:19:36,680 federal government to do is try and fund, train, assist 321 00:19:37,400 --> 00:19:41,200 the Washington Metropolitan Police Department in hiring more police officers. 322 00:19:41,799 --> 00:19:47,279 You need a permanent, larger police force. Washington has always 323 00:19:47,400 --> 00:19:51,240 had high crime. Are the people that I've talked to 324 00:19:51,319 --> 00:19:54,359 and people I've heard from that live in Washington say, 325 00:19:54,799 --> 00:19:57,839 even though the National Guard was not supposed to do 326 00:19:57,880 --> 00:20:02,079 any law enforcement, that actually the crime is down. That 327 00:20:02,440 --> 00:20:08,960 seems to be having an impact. The weird part about 328 00:20:09,000 --> 00:20:13,079 all of that, however, is that if they were originally 329 00:20:13,119 --> 00:20:17,160 not armed, now they are, but they're not supposed to 330 00:20:17,240 --> 00:20:20,599 do law enforcement. They're supposed to just detain somebody and 331 00:20:20,640 --> 00:20:22,799 call the police and the police company, just like you 332 00:20:22,880 --> 00:20:27,119 or I would. So this is going to be interesting 333 00:20:27,160 --> 00:20:30,240 to see what happens. You can't just station the National 334 00:20:30,319 --> 00:20:34,000 Guard there forever. You're going to have to transition this 335 00:20:34,160 --> 00:20:39,640 over to the police department. The other strange part about 336 00:20:39,640 --> 00:20:43,519 all of this is is that they were basically just 337 00:20:44,400 --> 00:20:48,039 showcases the National Guard. Like I said, at first, they 338 00:20:48,119 --> 00:20:52,680 had no arms, but they were just there, and everybody 339 00:20:52,839 --> 00:20:55,000 in Washington I've talked to said, oh, yeah, you'd see 340 00:20:55,000 --> 00:20:57,359 them all over the place. They were here, they were there, 341 00:20:58,079 --> 00:21:02,720 everybody knew they were there. So does that also mean 342 00:21:02,799 --> 00:21:08,519 that there is another radicalized gihattist that is also going 343 00:21:08,559 --> 00:21:13,319 to do the same exact thing. That's what you need 344 00:21:13,359 --> 00:21:17,599 to be worried about. Another former FBI guy's name is 345 00:21:17,880 --> 00:21:23,640 Josh Scooley. He was a former FBI intelligence officer and 346 00:21:24,319 --> 00:21:26,160 this is what he had to say about the shooting. 347 00:21:27,000 --> 00:21:29,839 Speaker 9: Well, I think initially this subject was vetted as thoroughly 348 00:21:30,079 --> 00:21:32,839 as possible. He had a long track record of working 349 00:21:33,039 --> 00:21:36,920 not only with the intelligence community but with a special 350 00:21:36,960 --> 00:21:39,640 operations folks in country over a long period of time. 351 00:21:40,079 --> 00:21:43,160 He likely had support to obtain his special immigrant visa, 352 00:21:43,160 --> 00:21:47,279 which would have gone through a rigorous screening. That being said, 353 00:21:47,720 --> 00:21:50,160 there are two reports, one from the Department of Homeland 354 00:21:50,200 --> 00:21:54,400 Security OIG and one from Department of Justice OIG which 355 00:21:54,480 --> 00:21:58,480 highlighted some inaccuracies in the vetting and the pressure politically 356 00:21:58,599 --> 00:22:01,119 to bring Afghani refas into the country. 357 00:22:01,480 --> 00:22:03,920 Speaker 1: Yeah, the President was asked about this and he just 358 00:22:03,960 --> 00:22:09,519 says the guy was a mentally ill person. Expressed it 359 00:22:09,519 --> 00:22:11,480 in a little more graphic way. 360 00:22:11,400 --> 00:22:14,559 Speaker 10: Went cuckoo. I mean he went nuts. And that happened 361 00:22:14,599 --> 00:22:16,839 soon it happens too often with these people. Do you 362 00:22:16,839 --> 00:22:20,119 see him? But look, this is how they come in. 363 00:22:20,240 --> 00:22:22,799 Speaker 11: This is how they They're standing on top of each other, 364 00:22:22,880 --> 00:22:26,039 and that's an airplane. There was no vetting or anything. 365 00:22:26,079 --> 00:22:28,559 They came in unvetted, and we have a lot of 366 00:22:28,559 --> 00:22:30,400 others in this country. We're going to get them out, 367 00:22:31,240 --> 00:22:33,559 but they go cuckoo. Something happens soon. 368 00:22:34,200 --> 00:22:36,880 Speaker 1: So back to the former FBI guy, Jeff Scully on 369 00:22:36,960 --> 00:22:39,400 what he thought about the president's comments. 370 00:22:39,480 --> 00:22:42,519 Speaker 9: Well, I think that's the number one question that the 371 00:22:42,599 --> 00:22:45,240 victims want and the American public want, is what was 372 00:22:45,279 --> 00:22:48,400 the motive for somebody who supported the US's efforts in 373 00:22:48,440 --> 00:22:52,400 Afghanistan for so long to drive across country and clearly 374 00:22:52,759 --> 00:22:56,279 conduct a targeted attack against two National guardsmen. And our 375 00:22:56,279 --> 00:22:58,480 hearts go out to both of those families. But that 376 00:22:58,680 --> 00:23:01,279 is the number one question. Was he radicalized? Did he 377 00:23:01,400 --> 00:23:04,799 have mental health issues? And as the FBI unfolds this 378 00:23:04,880 --> 00:23:10,440 investigation in their numerous interviews with family, friends, co workers, associates, 379 00:23:10,440 --> 00:23:14,119 as well as what they're learning from his phones and computers, 380 00:23:14,759 --> 00:23:17,000 this will start to take a clearer picture. 381 00:23:17,519 --> 00:23:18,240 Speaker 2: In the coming day. 382 00:23:18,359 --> 00:23:22,319 Speaker 1: The governor of West Virginia, the home state for both 383 00:23:22,319 --> 00:23:25,359 of these guardsmen. He was the one, Patrick Morrison, he 384 00:23:25,400 --> 00:23:28,440 put out the note on Wednesday that they had died 385 00:23:28,480 --> 00:23:31,559 and then had to retract that. And now here we 386 00:23:31,640 --> 00:23:35,039 are with one of them in critical condition, the other 387 00:23:35,079 --> 00:23:39,319 one has passed away. Here's Governor Patrick Morrissey at West Virginia. 388 00:23:39,440 --> 00:23:44,160 Speaker 12: Protecting the safety of the capital is really an important mission. 389 00:23:44,559 --> 00:23:48,000 Then I'm supportive of that, and I know that what 390 00:23:48,119 --> 00:23:51,160 President Trump is trying to do in terms of additional vetting, 391 00:23:51,559 --> 00:23:54,960 I'm for anything that could help improve the situation because 392 00:23:55,000 --> 00:23:58,079 it's unfathomable how something like this could happen. 393 00:23:58,880 --> 00:24:02,039 Speaker 1: Well, I know he the term it's infathoable that this 394 00:24:02,079 --> 00:24:06,839 could happen. I didn't predict this, but I thought they're 395 00:24:06,880 --> 00:24:12,799 standing around and supposedly in a sitty with high crime 396 00:24:13,480 --> 00:24:16,680 and originally did not have any arms. But again, it's 397 00:24:16,799 --> 00:24:20,079 it's very much of a look at us. We're on 398 00:24:20,160 --> 00:24:24,359 display here, so everybody behave. If you're going to have 399 00:24:24,440 --> 00:24:26,759 somebody crack down on crime, you need somebody to go 400 00:24:26,799 --> 00:24:29,599 in there and do law enforcement. That's why I keep 401 00:24:29,640 --> 00:24:32,279 going back to the same point. They need to get 402 00:24:32,359 --> 00:24:35,359 rid of the National Guard, transition them out as they 403 00:24:35,400 --> 00:24:40,440 bring in more recruits and higher people for the Washington 404 00:24:40,519 --> 00:24:43,559 DC Police Department. I mean, if they were giving fifty 405 00:24:43,680 --> 00:24:49,440 thousand dollars bonuses for people to sign up for Homeland 406 00:24:49,440 --> 00:24:53,400 security for ICE, why don't they get fifty thousand dollars 407 00:24:53,440 --> 00:24:57,480 bonuses to existing police officers around the country. How would 408 00:24:57,480 --> 00:24:59,920 you like to work for the Washington DC Police Department. 409 00:25:01,160 --> 00:25:06,400 You'd beat that department up. Overnight. Mark Season has his 410 00:25:07,559 --> 00:25:09,079 comments on this whole situation. 411 00:25:10,680 --> 00:25:12,400 Speaker 13: It is one hundred percent of first of our hearts 412 00:25:12,440 --> 00:25:14,400 go out to the family of this This lost to 413 00:25:14,640 --> 00:25:17,279 guards woman. You know she took she actually offered to 414 00:25:17,319 --> 00:25:19,759 service as somebody else could go home for Thanksgiving, and look, 415 00:25:19,880 --> 00:25:22,440 look what's happened to her. And of course we're praying 416 00:25:22,480 --> 00:25:25,920 for the guardsman who's still fighting for his life. Look, 417 00:25:26,000 --> 00:25:27,720 this would have never happened if it hadn't been for 418 00:25:27,759 --> 00:25:31,480 the disastrous withdrawal from Afghanistan. In fact, it's I'm almost 419 00:25:31,480 --> 00:25:34,599 shocked that there haven't been more terrorist incidents since then. 420 00:25:34,960 --> 00:25:37,359 One of the things that they did, this particular person 421 00:25:37,400 --> 00:25:40,279 had worked with the CIA. Most of the people who 422 00:25:40,319 --> 00:25:44,079 worked with our forces are are loyal to the United States, 423 00:25:44,640 --> 00:25:46,519 but there have been some there was a sea. There 424 00:25:46,559 --> 00:25:48,559 was a somebody who was a double agent who blew 425 00:25:48,599 --> 00:25:51,119 up a CIA base in two thousand and nine in Afghanistan, 426 00:25:51,720 --> 00:25:54,039 so they have they have to go through vetting as well. 427 00:25:54,319 --> 00:25:58,160 But the Biden administration actually failed in the vetting process. 428 00:25:58,440 --> 00:26:01,599 We found as they left office that they had dog 429 00:26:01,680 --> 00:26:05,400 Inspector General over one thousand known or suspected terrorists had 430 00:26:05,440 --> 00:26:07,880 been let into the country because they didn't check them 431 00:26:07,880 --> 00:26:11,680 against the biometric data in our National counter Terrorism and Database, 432 00:26:11,920 --> 00:26:14,359 and later on checked their data and found out that 433 00:26:14,359 --> 00:26:18,480 they had things like fingerprints on IEDs and other derogatory 434 00:26:18,519 --> 00:26:21,200 information that indicated that they were involved with terrorism. 435 00:26:21,480 --> 00:26:22,920 Speaker 2: We never found all those people. 436 00:26:23,880 --> 00:26:25,880 Speaker 13: There could be as many as a thousand known or 437 00:26:25,920 --> 00:26:29,200 suspected terrorists wandering around the United States right now, so 438 00:26:29,240 --> 00:26:32,000 we absolutely have to find those people and get them 439 00:26:32,039 --> 00:26:32,720 out of the country. 440 00:26:33,039 --> 00:26:39,640 Speaker 1: There have been assault against law enforcement as well. There 441 00:26:39,720 --> 00:26:44,839 was an incident that happened over in Queen's I believe 442 00:26:44,839 --> 00:26:47,079 it was about seven eight years ago, or two police 443 00:26:47,079 --> 00:26:50,160 officers sitting it in their patrol car. A guy who 444 00:26:50,240 --> 00:26:56,359 hated cops walked up and fired into the car and 445 00:26:56,640 --> 00:27:00,279 killed both police officers. If I remember right. They were 446 00:27:00,319 --> 00:27:04,119 sitting there, I think doing paperwork and weren't doing anything. 447 00:27:04,240 --> 00:27:06,720 But he hated cops and he wanted to kill He 448 00:27:06,759 --> 00:27:09,279 wanted to kill cops. It could be down to being 449 00:27:09,319 --> 00:27:12,839 that simple, if this guy just doesn't like soldiers, but 450 00:27:12,920 --> 00:27:15,359 it seems like it's much more targeted. If you want 451 00:27:15,400 --> 00:27:18,640 to find soldiers and you live in the state of Washington. 452 00:27:19,079 --> 00:27:22,359 There are plenty of army bases around the state of Washington. 453 00:27:22,400 --> 00:27:24,960 You can go to why did he go all the 454 00:27:25,000 --> 00:27:27,960 way to the nation's capital. Why did he pick on 455 00:27:28,240 --> 00:27:32,799 a woman first and then the other soldier who was 456 00:27:33,279 --> 00:27:36,759 basically they were ready to well they did. They fired 457 00:27:36,799 --> 00:27:39,519 at him eventually, but he was able to get off 458 00:27:40,680 --> 00:27:44,960 two wounds that right out of the gate. Anyway, there's 459 00:27:45,000 --> 00:27:48,960 still a million questions to ask about all of this. 460 00:27:50,079 --> 00:27:51,640 So you want to go back to one of my 461 00:27:51,680 --> 00:27:55,319 favorite subjects in which is tariffs. You know, I don't 462 00:27:55,400 --> 00:28:01,119 like them. They harm the supply chain. They they are taxes, 463 00:28:02,200 --> 00:28:05,319 and taxes You get less of something when you tax it, 464 00:28:05,640 --> 00:28:09,599 so no wonder we're getting less beef and the terrorifs 465 00:28:09,640 --> 00:28:15,200 for the beef prices. It's all driving me crazy. The president, 466 00:28:15,240 --> 00:28:19,559 though he's got a totally different look at all of this, 467 00:28:20,279 --> 00:28:24,400 and he's all excited about tariffs, and he thinks, he 468 00:28:24,519 --> 00:28:28,119 really said this out loud, that he thinks we will 469 00:28:28,160 --> 00:28:32,400 be able to get rid of income taxes by the 470 00:28:32,519 --> 00:28:34,359 income produced by the tariffs. 471 00:28:34,880 --> 00:28:38,359 Speaker 11: So this is one of the biggest things economically that's 472 00:28:38,400 --> 00:28:39,160 never happened. 473 00:28:39,200 --> 00:28:40,559 Speaker 10: Nobody's ever seen anything like it. 474 00:28:40,599 --> 00:28:42,799 Speaker 11: And over the next couple of years, I think it 475 00:28:42,799 --> 00:28:46,400 will substantially be cutting and maybe cutting out completely, but 476 00:28:46,480 --> 00:28:51,160 we'll be cutting income tax could be almost completely cutting 477 00:28:51,200 --> 00:28:53,039 it because the money we're taken and is going to 478 00:28:53,079 --> 00:28:54,279 be so large. 479 00:28:54,960 --> 00:28:58,359 Speaker 1: Okay, that doesn't make any sense. I'm sorry, it just doesn't. 480 00:28:58,839 --> 00:29:03,319 Tariffs bring in right now, annualize it out. We're running 481 00:29:04,119 --> 00:29:08,359 somewhere around thirty billion dollars a month. So times twelve, 482 00:29:08,880 --> 00:29:12,079 three hundred and sixty billion dollars, let's say comes in 483 00:29:12,559 --> 00:29:18,680 from tariffs. We are spending for trillion dollars. You're not 484 00:29:18,799 --> 00:29:22,880 going to replace the four trillion dollars revenue that you 485 00:29:23,000 --> 00:29:26,400 need for the spending by the government with three hundred 486 00:29:26,440 --> 00:29:29,640 and sixty billion dollars. It's not even close. It's not 487 00:29:29,839 --> 00:29:35,400 even close. Even EJ and Tony, one of the economists 488 00:29:35,440 --> 00:29:39,039 who President was looking at to join the Federal Reserve Board. 489 00:29:39,440 --> 00:29:40,480 This is his reaction. 490 00:29:41,000 --> 00:29:43,079 Speaker 14: Well, sure, if you're going to have absolutely massive cuts 491 00:29:43,119 --> 00:29:45,559 to government spending, which I would love, don't get me wrong, 492 00:29:45,799 --> 00:29:48,440 but it's just not feasible again, unless you're going to 493 00:29:48,519 --> 00:29:52,880 have much higher tariffs and much much less government spending. 494 00:29:52,960 --> 00:29:55,279 You know, it is true historically, Lauren As, I'm sure 495 00:29:55,359 --> 00:29:58,559 you know that this country did fund the federal government 496 00:29:58,599 --> 00:30:02,319 almost exclusively with tariffs for a good number of years. 497 00:30:02,319 --> 00:30:04,920 That's how our country got started. But that was when 498 00:30:04,960 --> 00:30:08,440 government was only a couple percentages of the overall economy, 499 00:30:08,519 --> 00:30:12,119 not twenty to twenty five percent like we've seen more recently. 500 00:30:12,200 --> 00:30:14,200 So again, if you really want to get rid of 501 00:30:14,200 --> 00:30:17,200 something like the income tax, the government's main source of 502 00:30:17,279 --> 00:30:20,240 revenue every year, you could theoretically do it, but it's 503 00:30:20,279 --> 00:30:23,559 going to again require much higher tariffs and much much 504 00:30:23,640 --> 00:30:25,039 less government spending. 505 00:30:25,160 --> 00:30:25,319 Speaker 10: Yeah. 506 00:30:25,319 --> 00:30:29,240 Speaker 1: I named Adam Johnson, a Wall Street analyst, had this 507 00:30:29,319 --> 00:30:30,279 reaction as well. 508 00:30:30,440 --> 00:30:32,680 Speaker 2: Totally absurd, never going to happen. 509 00:30:33,000 --> 00:30:35,640 Speaker 15: It's like Steve Forbes, God bless them, but Steve Forbes 510 00:30:35,920 --> 00:30:38,720 flat tax. You know, I think that'd be wonderful. I 511 00:30:38,720 --> 00:30:41,400 don't believe in a progressive tax system. I don't believe 512 00:30:41,440 --> 00:30:45,119 in well transfer. I don't believe that government's purpose exists 513 00:30:45,119 --> 00:30:48,440 to tax one group of people in hand money to another. 514 00:30:48,519 --> 00:30:52,440 Speaker 2: I just don't like that. But no income tax, No, 515 00:30:52,599 --> 00:30:53,759 you got to be able to fund the government. 516 00:30:53,839 --> 00:30:57,880 Speaker 1: It totally observes what he said and EJ. Antony same thing. 517 00:30:57,920 --> 00:30:59,799 It's not going to happen. I think with the p 518 00:31:00,079 --> 00:31:03,599 that it's doing is he's trying to send a message 519 00:31:03,640 --> 00:31:06,079 to the Supreme Court. The Supreme Court is going to 520 00:31:06,200 --> 00:31:10,119 rule on one of the tariffs whether he has The 521 00:31:10,160 --> 00:31:13,720 President of the United States has the power to issue tariffs, 522 00:31:14,519 --> 00:31:17,279 and if he doesn't, all those tariffs that he has 523 00:31:17,319 --> 00:31:20,039 assessed in all these countries are going to have to 524 00:31:20,079 --> 00:31:24,039 be reversed. And the only ones who can issue tariffs, 525 00:31:24,039 --> 00:31:28,039 according to if you read the Constitution, is Congress. So 526 00:31:28,160 --> 00:31:31,039 maybe he can work something out with Congress to save 527 00:31:31,119 --> 00:31:33,920 the tariffs that he's already put out there. But this 528 00:31:34,000 --> 00:31:36,000 is going to be a big story as we go 529 00:31:36,519 --> 00:31:39,160 down the next few months. They can't wait for it. 530 00:31:39,160 --> 00:31:41,279 They can't wait till the summer to come up with 531 00:31:41,319 --> 00:31:45,279 a decision about tariffs. So but I think the President 532 00:31:45,319 --> 00:31:49,559 says stuff like that, he knows you can't replace the 533 00:31:50,079 --> 00:31:53,799 running the government on tariffs. The last time we did 534 00:31:53,799 --> 00:31:56,799 that was back in the eighteen hundreds, and like Adam 535 00:31:56,880 --> 00:31:59,759 Johnson was saying, we were just a fraction. The government 536 00:31:59,799 --> 00:32:02,799 was just it's a small little piece of the economy 537 00:32:02,920 --> 00:32:07,319 in this country. Oh, it's become a monster all on 538 00:32:07,359 --> 00:32:09,880 its own. So we have a lot to wait on. 539 00:32:10,279 --> 00:32:15,240 The President making noises today about using going after Venezuela 540 00:32:15,359 --> 00:32:20,599 with even some land action whatever that means, got everybody's 541 00:32:20,640 --> 00:32:24,240 eyebrows raised. We got the Supreme Court going to rule 542 00:32:24,279 --> 00:32:30,000 on tariffs. You've got the spending that the Retail Federation 543 00:32:30,119 --> 00:32:34,279 says it's going to be great during this holiday season. 544 00:32:34,519 --> 00:32:36,759 They always say that we'll see how it turns out. 545 00:32:37,440 --> 00:32:39,640 Let's see how Wall Street turned out today. Today was 546 00:32:39,680 --> 00:32:44,640 a shortened trading session that normally closes at four pm. Instead, 547 00:32:44,680 --> 00:32:47,880 the market's closed at one o'clock today. It's the lightest 548 00:32:47,960 --> 00:32:52,079 volume of the year. The reason why the stock market 549 00:32:52,200 --> 00:32:55,759 is even open on Black Friday as opposed to a 550 00:32:55,799 --> 00:32:59,400 lot of people having four day holiday with Thanksgiving Black Friday, 551 00:32:59,559 --> 00:33:03,599 Saturday Sunday. It goes to an old banking law that 552 00:33:03,680 --> 00:33:06,559 says you can't keep people away from their money for 553 00:33:06,599 --> 00:33:11,559 more than three days. Well that was before ATM machines 554 00:33:11,599 --> 00:33:17,440 and everything else took place. So, because the markets were 555 00:33:17,440 --> 00:33:21,200 closed yesterday for Thanksgiving, and they'll be closed again obviously 556 00:33:21,279 --> 00:33:25,400 tomorrow and Sunday, so they have to open on Black Friday, 557 00:33:25,440 --> 00:33:28,599 and they open just for a short crediting session. And 558 00:33:28,640 --> 00:33:31,559 when all was said and done, today it turned out 559 00:33:31,559 --> 00:33:33,799 to be a pretty good day. 560 00:33:34,039 --> 00:33:34,200 Speaker 10: Now. 561 00:33:34,319 --> 00:33:39,240 Speaker 1: Jones Industrials went up two hundred and eighty nine points 562 00:33:39,279 --> 00:33:43,200 to close at forty seven thousand and seven sixteen s 563 00:33:43,279 --> 00:33:47,599 and pup thirty six, Nasdaq up one hundred and fifty one. 564 00:33:48,279 --> 00:33:51,160 The price of gold big gain, up fifty four dollars 565 00:33:51,519 --> 00:33:55,359 to four thousand and two fifty six, and oil went 566 00:33:55,440 --> 00:33:58,400 down part of a dollar. It's now fifty eight dollars 567 00:33:58,400 --> 00:34:01,480 for a barrel of oil. We thank you for coming by. 568 00:34:01,880 --> 00:34:05,200 We appreciate it, especially on this Black Friday. Hope you 569 00:34:05,279 --> 00:34:07,680 have a wonderful weekend. We'll be back on Monday. I 570 00:34:07,720 --> 00:34:08,559 hope to see you then.