Latest / Profits & Politics / Bob and Jerry chat with guest Dennis Kneale about politics and economy -- good or bad?

Transcript

Bob and Jerry chat with guest Dennis Kneale about politics and economy -- good or bad? · Profits & Politics

0:17
SPEAKER_00: Good morning, folks.
0:18
SPEAKER_00: Welcome to the morning call show.
0:20
SPEAKER_00: I'm Bob Sellers here with Jerry Burke.
0:22
SPEAKER_00: And there's a lot going on, Jerry.
0:24
SPEAKER_00: Of course, to remind people we try to look for the right and wrong in between the right and left.
0:28
SPEAKER_00: And it seems like the extremes on the right and the left aren't really where the American people are.
0:33
SPEAKER_00: So we try to ferret that out as best possible.
0:37
SPEAKER_00: So what do you have today, Jerry?
0:40
SPEAKER_06: I have a lot of stories, including one about the right and the and the left and the right and the wrong.
0:45
SPEAKER_06: But we'll get to that in a minute.
0:48
SPEAKER_06: I have a story here about uh gasoline prices, which is top of mind for a lot of people.
0:55
SPEAKER_06: Shell Oil Company is set for another record quarter as refining profits surge.
1:03
SPEAKER_06: The firm said three the firm said three third quarter oil and gas trading was in line with the previous three months when they helped deliver Shell's second highest quarterly profit on record.
1:16
SPEAKER_06: It has been driven by refining margins at$42 a barrel that they're making, almost double the$24 a barrel in the second quarter.
1:26
SPEAKER_00: Right.
1:26
SPEAKER_00: That that yeah.
1:29
SPEAKER_00: So they have what they paid$42 for, and the going rate now is approaching$100.
1:36
SPEAKER_00: And and so this is one of the things that people are like, well, wait a minute.
1:41
SPEAKER_00: If it's in your tanks at$42, why are you paying the top?
1:45
SPEAKER_00: Because it's a global market.
1:46
SPEAKER_00: You know, I'd love to talk to somebody that's a business expert about this.
1:50
SPEAKER_06: I wonder if we have one available.
1:52
SPEAKER_00: Huh.
1:53
SPEAKER_00: Let's see.
1:54
SPEAKER_06: Oh, hey.
1:56
SPEAKER_06: Hello, gentlemen.
1:58
SPEAKER_06: It's uh former manager, managing editor of Forbes magazine, Dennis Neal, author of the Oregonins.
2:06
SPEAKER_03: The Oregoners, yes, and the leadership genius of Elon Musk.
2:10
SPEAKER_03: And I was honored to have worked with both of you gentlemen at uh at various networks.
2:17
SPEAKER_03: So it's good to see you.
2:19
SPEAKER_03: Happy almost Friday.
2:21
SPEAKER_00: Yeah, let's see.
2:22
SPEAKER_00: Um uh this uh here's a little picture.
2:25
SPEAKER_00: Oh yeah.
2:26
SPEAKER_00: Oh, how about that?
2:28
SPEAKER_00: From back in the day.
2:30
SPEAKER_00: That's awesome.
2:31
SPEAKER_00: How about that?
2:33
SPEAKER_00: Like that.
2:34
SPEAKER_00: And and I remember doing uh business shows at uh Fox, subbing for Neil Kubudo, and then uh Dennis, you were constant on there, Forbes on Fox and all that.
2:45
SPEAKER_00: Yeah, so uh yeah, we go way back, and we we wanted to have you on for various reasons because you're really good at this kind of thing.
2:54
SPEAKER_00: And Jerry was just mentioning uh oil prices, uh they're quite high, people are complaining, and and so let me ask you about this.
3:02
SPEAKER_00: The Democrats are running against Trump, partly against his personality, which is kind of a separate conversation, right?
3:09
SPEAKER_00: But entirely against his personality.
3:13
SPEAKER_00: Exactly.
3:14
SPEAKER_00: But let's talk about the economy itself, because there are people that say my groceries are outrageous, gas prices are high, uh, it seems like everything's going up.
3:25
SPEAKER_00: I've got no control and over what's going on.
3:29
SPEAKER_00: I don't know how I'm gonna keep up.
3:31
SPEAKER_00: And so the narrative, at least for a lot of people, including Democrats who are running against Republicans, is the economy's all messed up.
3:41
SPEAKER_00: It's the economy stupid, as all of us are familiar with, going back to the Clinton era.
3:47
SPEAKER_00: Uh, but I think you beg to differ.
3:50
SPEAKER_03: I mean, okay, let's consider this.
3:53
SPEAKER_03: All right.
3:54
SPEAKER_03: Um, front page of the Wall Street Journal this morning says that the NASDAQ and the SP 500, those big indexes of stocks, both hit all-time record highs.
4:08
SPEAKER_03: And the University of Michigan, much watched consumer sentiment survey, has the way we're feeling about the economy plumbing all-time lows.
4:20
SPEAKER_03: Now, the stock market is saying where we're going to be six to nine months out, twelve months out, and yet consumer sentiment keeps plumbing all-time lows.
4:28
SPEAKER_03: What's happening in that gap?
4:30
SPEAKER_03: In that gap is the quiz show the media playing called What You Don't Say.
4:35
SPEAKER_03: It's what you don't say that counts.
4:37
SPEAKER_03: And they aren't covering the economic miracle that is going on right now.
4:41
SPEAKER_03: May I just rattle off a few bullets for you?
4:43
SPEAKER_03: Please, please.
4:44
SPEAKER_03: Okay.
4:45
SPEAKER_03: GDP, current growth going at more than 5%.
4:49
SPEAKER_03: Real growth after deducting inflation.
4:51
SPEAKER_03: Uh, previous quarter second, revised upward.
4:55
SPEAKER_03: Um, median income in the U.S.
4:58
SPEAKER_03: just rose to an all-time record high of$87,000 a year.
5:02
SPEAKER_03: In Europe, median income is$24,000 a year.
5:07
SPEAKER_03: U.S.
5:08
SPEAKER_03: poverty rate just hit an all-time low of 10%.
5:13
SPEAKER_03: No one's barely even covered that.
5:16
SPEAKER_03: We just had household spending in the most recent 12-month period go at 6%.
5:21
SPEAKER_03: That's 50% more than in the previous year.
5:24
SPEAKER_03: That's not just because of inflation, it's because consumers have the money to spend.
5:30
SPEAKER_03: So this is really actually looking pretty good.
5:32
SPEAKER_03: The SP 500 in 16 months is up 32%.
5:39
SPEAKER_03: So what's happening?
5:40
SPEAKER_03: What's happening is people more than ever before, and I interviewed the director of the University of Michigan survey about this, people more than ever before are deciding how the economy, how they feel about the economy based on their politics.
5:54
SPEAKER_03: And there are so many people on Wall Street and in hedge funds and running big uh retirement plans who are so anti-Trump.
6:02
SPEAKER_03: At the Federal Reserve, over 90% of the donations from employees at the Fed go to Democrats.
6:09
SPEAKER_03: The same is true across all kinds of different groups.
6:12
SPEAKER_03: They have let their hatred of Trump get in the way of their ability to see just how good life is going and just how strong our economy really is.
6:24
SPEAKER_03: Jerry?
6:25
SPEAKER_06: I have a I have a Trump derangement story here.
6:28
SPEAKER_00: Well, well, can I can I respond to if if you're not going to follow up on that?
6:32
SPEAKER_00: Let me just give you the arguments against what you're saying, Dennis, and and you can respond to them.
6:37
SPEAKER_00: First of all, there's some people who say it's a K-shaped economy.
6:40
SPEAKER_00: So when you show the overall numbers, including the stock market, there's no question that over the years, the top 10%, the top 1% have been doing very well, especially compared to those that are lower.
6:52
SPEAKER_00: And remember, those that are in the lower income levels vote also.
6:56
SPEAKER_00: And they also voted in Trump twice.
7:00
SPEAKER_00: So those votes do count.
7:01
SPEAKER_00: And if it's K-shaped, let me finish and then you can jump on it.
7:05
SPEAKER_00: The GDP was actually a little bit higher under Biden than it was under uh than it has been under Trump.
7:14
SPEAKER_00: Um, you've got inflation that's higher than when Trump took over.
7:20
SPEAKER_00: And uh what else?
7:22
SPEAKER_00: The poverty rate is pretty much however you define it.
7:24
SPEAKER_00: The government can say, oh, it's under 35,000 or 60,000 or whatever.
7:29
SPEAKER_00: So that's always a little harder to track.
7:31
SPEAKER_00: Oh, come on, man.
7:33
SPEAKER_00: No, no, give me a second.
7:35
SPEAKER_00: The SP 500, I think, has been doing well.
7:38
SPEAKER_00: September wasn't a great month, but this year it's up, what, about 14%, 13%.
7:43
SPEAKER_00: So it's been doing okay.
7:45
SPEAKER_00: And the good news for anybody who does look forward is midterm elections tend to have a very strong stock market the following year.
7:52
SPEAKER_00: Maybe it's because if the other uh party takes over, government can't do anything, and everybody likes the government not doing anything.
7:59
SPEAKER_00: But I'm just throwing those out there, Dennis, as as uh counters to what those arguments are.
8:06
SPEAKER_00: Because what you're saying is if you believe what you're saying, and if the Trump administration believes that, it's not really breaking through.
8:14
SPEAKER_03: Okay, so it's not breaking through because the media are burying the story on purpose.
8:19
SPEAKER_03: They're terrified of helping Trump and the Republicans.
8:22
SPEAKER_03: Number one.
8:23
SPEAKER_03: Number two, this K-shaped economy bull I keep hearing, the bottom 25% of earners in America right now, their wages are going up the fastest, faster than people earn higher wages.
8:35
SPEAKER_03: Second, the reason of that wealth gap is because the upper percentage of earners, it's not what they earn, it's that they're in the stock market, it's that they own equity.
8:44
SPEAKER_03: So make it easier for people to own equity.
8:46
SPEAKER_03: So, what do we got?
8:48
SPEAKER_03: We've got something like 50 or 60 million new retirement accounts opened up for kids in this country who will be able to watch that wealth compound and they will get a piece of the rock.
8:59
SPEAKER_03: That's a great story.
9:00
SPEAKER_03: The media aren't covering that at all either.
9:03
SPEAKER_03: There is a conspiracy going on by the mainstream media that I was a part of for more than 30 years to ignore the success and the good news that's happening in the economy.
9:14
SPEAKER_00: You know, I know what's happening as you're talking.
9:17
SPEAKER_00: I I hope we're done by I've got a conspiracy meeting at 10:30, and I was hoping we were uh done by then.
9:25
SPEAKER_00: What do you mean there's a conspiracy?
9:27
SPEAKER_03: I mean, I well it's a de facto conspiracy.
9:31
SPEAKER_03: They aren't covering what's happening.
9:33
SPEAKER_03: You know what?
9:34
SPEAKER_03: The facts that I just rattled off all in one place just here, but you can't find that anywhere in the New York Times, the Washington Post, CNN.
9:43
SPEAKER_00: You could find it at Cudlow every afternoon.
9:46
SPEAKER_03: You know what?
9:46
SPEAKER_03: You can't even find it well there.
9:48
SPEAKER_03: And the Republicans are at fault in part for not doing a better job of selling.
9:52
SPEAKER_03: Trump is doing a great job lately of selling and talking about.
9:56
SPEAKER_03: Oh, and that's the other thing, guys.
9:57
SPEAKER_03: We're about to win in Iran.
9:59
SPEAKER_03: The Strait of Hormuz has oil shipments back up to pre-war level.
10:07
SPEAKER_03: During the Biden administration, Biden came out, the administration came out and said that Iran is two weeks away from being able to produce a nuclear weapon.
10:18
SPEAKER_00: Yeah.
10:18
SPEAKER_03: Now, that ability is gone.
10:21
SPEAKER_03: The thought that it was not necessary, yeah.
10:24
SPEAKER_03: Every president before Trump said we should do something about Iran.
10:28
SPEAKER_03: No one did.
10:30
SPEAKER_00: They actually did.
10:30
SPEAKER_00: They had the JC.
10:32
SPEAKER_00: I always get the the initials wrong, but they did have a deal.
10:36
SPEAKER_00: Look, I think I think Obama did a bad deal by sending over pallets with millions of dollars over there.
10:42
SPEAKER_00: That was a dumb thing to do, to give all their money.
10:44
SPEAKER_00: The argument was that was their money anyway, that we had been holding back.
10:48
SPEAKER_00: And so we gave it to them back to the money.
10:50
SPEAKER_03: But you don't give it to a terrorism sponsor, Bob.
10:52
SPEAKER_03: Do you really wish that the top 100 people running uh uh Iran were still alive?
11:00
SPEAKER_06: Yeah.
11:01
SPEAKER_00: No, no, don't no, but and don't put me in that position, Dennis.
11:04
SPEAKER_00: I'm not sure.
11:05
SPEAKER_03: Well, I'm just asking, do you wish that that we had not invaded, that we had not attacked, and that they were still in control?
11:10
SPEAKER_00: Yes, I would we would I wish we had not invaded uh Duncan.
11:15
SPEAKER_03: And that they were still alive and in control.
11:17
SPEAKER_00: I think the difference in the people who are still who are alive and in control is not hugely different from what was there before.
11:25
SPEAKER_00: Literally.
11:26
SPEAKER_03: Oh my god, we're we're we're crushing them.
11:28
SPEAKER_03: It's another story the media are burying, okay?
11:31
SPEAKER_03: They have no economy left, they have no currency.
11:34
SPEAKER_03: We're we're crushing them, okay?
11:36
SPEAKER_03: And and they have no other choice but to end up surrendering.
11:40
SPEAKER_03: And with the world, the entire world will be in a better place, and still the media won't admit that.
11:45
SPEAKER_00: Yes, and right after the election, everything will be fine.
11:48
SPEAKER_00: Jerry, I know you love when you have two guests that are going at it.
11:51
SPEAKER_00: I know, I know, and be quiet and watch it.
11:54
SPEAKER_00: That's why you just watch it.
11:56
SPEAKER_00: But I do want to get you in here.
11:57
SPEAKER_00: And Dennis, I enjoy talking with you, and and I agree with you usually like 80% of the time.
12:03
SPEAKER_00: So I think we're just battling over the 20%.
12:06
SPEAKER_00: I love the free markets, I believe in the stock market and the this country, and I believe in the American trade.
12:12
SPEAKER_00: So don't put me on the other side.
12:14
SPEAKER_00: I I I'm with you.
12:15
SPEAKER_06: Yeah.
12:16
SPEAKER_06: Uh Dennis mentioned Trump derangement syndrome, and he gave a speech.
12:21
SPEAKER_06: Trump gave a speech the other day uh and talked about Iran bombing uh LA and San Diego.
12:29
SPEAKER_06: And that part of the speech was wildly misunderstood.
12:33
SPEAKER_03: Yes, they cut it off, just like the fine people hoax, right?
12:37
SPEAKER_03: And then Ann Coulter, you know, that skinny blonde who's super conservative, fantastic.
12:42
SPEAKER_03: My producer produces uh a couple of her podcasts.
12:45
SPEAKER_03: She came out on X and said, I find it appalling that Trump, you know, singled out San Diego and LA for bought for nuking by Iran and didn't mention San Francisco.
12:58
SPEAKER_06: Well, the this this opinion writer is pointing out that Trump was merely arguing that the temporary spike in gas prices is a very small price to pay compared to what a terrible cost it would be if Iran did indeed go and nuke a major city like LA or San Diego.
13:16
SPEAKER_03: And in the old days, guys, before the free X platform, that misimpression and misinformation would have spread across the entire media.
13:27
SPEAKER_03: But on X, it is able to be debunked instantly because it showed the broader tape.
13:32
SPEAKER_03: And that's how the fine hoax, the fine people hoax got exposed, is by people showing the broader, the longer tape, where he then said, do you know, be peaceful, etc.
13:41
SPEAKER_03: And they cut that out.
13:42
SPEAKER_03: You know, there's another big litmus test coming up, guys.
13:46
SPEAKER_03: And that is the administration's order that this Muslim in the military, American military, who killed 13 people, and Obama first classified as workplace violence.
13:59
SPEAKER_06: Yeah.
13:59
SPEAKER_03: They didn't call it terrorism.
14:01
SPEAKER_03: Now they want him to be shot on a firing squad in December.
14:05
SPEAKER_03: What are the Democrats going to say about this?
14:07
SPEAKER_03: I haven't seen any Democrat reaction yet.
14:10
SPEAKER_03: See these guys come out.
14:11
SPEAKER_03: They have to for their new Muslim base.
14:14
SPEAKER_03: They have to say this is terrible.
14:15
SPEAKER_03: We're against it.
14:16
SPEAKER_03: And yet, dare they.
14:18
SPEAKER_03: They will expose themselves to the American public for whose side they really are on.
14:23
SPEAKER_06: Yep.
14:24
SPEAKER_06: Yeah, that's true.
14:26
SPEAKER_06: The um, you know, uh, somebody said last night on one of the channels that they should they should strap him to a cruise missile and drop it on Iran.
14:36
SPEAKER_00: Very Dr.
14:37
SPEAKER_00: Strangelove.
14:38
SPEAKER_00: Uh yeah.
14:40
SPEAKER_00: Yeah.
14:41
SPEAKER_03: Yeah, it is.
14:42
unknown: You know, go riding it down.
14:44
SPEAKER_03: Uh but I want to see where where are they gonna, you know, they haven't figured out, you know, a Democrat leader can't do anything, it seems like, just from the hip, the way Trump does almost everything.
14:55
SPEAKER_03: They're too afraid, and so they've got to get their talking points in a row.
14:57
SPEAKER_03: And it's why you hear them all come out around the same time saying pretty much the same thing.
15:01
SPEAKER_03: They haven't figured out this talking point yet.
15:03
SPEAKER_03: They don't know what stance to take on it.
15:05
SPEAKER_03: Right.
15:05
SPEAKER_06: Well, and you're absolutely right.
15:07
SPEAKER_06: You know, they have they have a morning call just like we do here, and they that's how you end up with those dozens of media clips where Democrats are all saying the same word or phrase.
15:18
SPEAKER_03: Yes.
15:19
SPEAKER_06: They do it on four sides.
15:21
SPEAKER_06: They do it.
15:21
SPEAKER_06: Affordability.
15:23
SPEAKER_06: And I'll bet you anything on both sides.
15:25
SPEAKER_03: I'll I'll bet you anything, though.
15:26
SPEAKER_03: Yeah, that's true.
15:27
SPEAKER_03: But I'll bet you anything that there are media members on some kind of private Slack chat or something talking to each other about how to play things.
15:37
SPEAKER_03: There's been records of that coming true in the past.
15:39
SPEAKER_00: And whether or not they get each other, I don't know that they need anything official.
15:45
SPEAKER_00: From my experience, if you're on the floor somewhere in a in a more liberal outlet, the conversations that go on are more liberal.
15:55
SPEAKER_00: And then when you're in a conservative outlet, the conversations going on are more conservative.
16:01
SPEAKER_03: I never realized this when I was outside the TV business, Bob, but when I went to CNBC and the meltdown of 08, okay, and I'm saying to Larry Cudlow, before we go on air and we're mic'd, you know, and I'm saying to him, you know, everyone else here is hanging crepe, they're so panicked.
16:17
SPEAKER_03: I think it's because they haven't seen that we're gonna be okay, and I know we're gonna be okay.
16:20
SPEAKER_03: And Larry Cudlow says, no, that's not it.
16:22
SPEAKER_03: And then because we're on mics, he just writes on a piece of paper in front of me, he said, liberals, and he underlines it, saying that the staff of CNBC is a bunch of liberals, and that's why they're being and I I had never even thought of it that way.
16:36
SPEAKER_03: And it changed the way I viewed a lot of what was going on.
16:39
SPEAKER_06: Well, you know, that's a one of the first times I met Roger Ayles, he said to me, Burke, you're a liberal and you don't even know it.
16:45
SPEAKER_06: And I said, What?
16:46
SPEAKER_06: He goes, You worked in a newsroom.
16:48
SPEAKER_06: He said, Do you know a goldfish doesn't know what's in the water?
16:51
SPEAKER_06: It swims around with all the other goldfish and it breathes, it breathes the same water, it says, spouts off the same stuff.
16:57
SPEAKER_06: He said, That's what every newsroom in America is like.
17:00
SPEAKER_00: You know, here's the thing that I'm I'm perplexed by, and and I'll lay this out to you, uh, both of you.
17:07
SPEAKER_00: I'm not a Democrat and I'm not a Republican.
17:10
SPEAKER_00: And I'm uh pro-business, free enterprise, pro-stock market, and all that.
17:15
SPEAKER_00: But I also um I don't care what people do behind closed doors.
17:20
SPEAKER_00: I don't want biological uh men playing basketball or sports with uh biological women.
17:27
SPEAKER_00: That's stupid to me.
17:28
SPEAKER_00: And I think a lot of people are in the middle, but what they see, it's like the offerings they get are the extremes on the right and the left.
17:39
SPEAKER_00: And that's one of the things we do try to address here is we try to look at the middle.
17:44
SPEAKER_00: Dennis, what what solves that?
17:47
SPEAKER_00: Because the Democratic Party that exists today, I don't recognize.
17:52
SPEAKER_00: If you go back to Bill Clinton, that's a good old Southern boy.
17:57
SPEAKER_00: He was pro-business, uh, he came from the South, he understood the working class person, and and then the Republican Party, I'm not sure I recognize that either.
18:09
SPEAKER_00: The the Reagan uh Republican Party, it's really not like the Trump Republican Party, although it's more of just the Trump Party, if you ask me.
18:18
SPEAKER_00: So I I don't know where we get back into something that is more moderate.
18:25
SPEAKER_00: And I don't mean that as a bad word.
18:28
SPEAKER_00: I just mean that as something where we're not constantly fighting, and we can get certain things done, like maybe do something about the budget.
18:37
SPEAKER_03: The big, the yeah, that that that'll never happen without, I think, one of these uh the what is this, like the constitutional gathering of states, you know, where they come together to make some changes, and the states can end up passing some changes that Congress is unwilling to pass since both parties spend like crazy.
18:52
SPEAKER_03: Trump spends like crazy.
18:54
SPEAKER_03: Do we think that this bitter divide and the takeover by the extreme whip-ins of each side, do we think that that bitterness disappears when Trump moves on?
19:07
SPEAKER_03: I helped Lou Dobbs uh write the book, The Trump Century, but before the 2020 election.
19:13
SPEAKER_03: And when I say helped, I mean I wrote every most every single word of that book.
19:17
SPEAKER_03: And and Lou Dobbs very smartly argued that long after Trump leaves, even if he loses, his agenda, his style, everything will continue to shape what happens.
19:28
SPEAKER_03: And I wonder whether, yeah, he might be right about that, that even after Trump leaves, the Democrats won't let him go.
19:34
SPEAKER_03: And the bitter divide will continue.
19:36
SPEAKER_03: What do you guys think?
19:37
SPEAKER_00: Well, let me answer that by in one thing.
19:40
SPEAKER_00: And Rick Santorum, who is a senator from Pennsylvania, uh, that all three of us know, he said something very smart one day.
19:48
SPEAKER_00: Uh, he said, politicians are actually not leaders, they're actually people that get in front of movements.
19:56
SPEAKER_00: And so that I think Trump got in front of a movement, which would make true what you're arguing.
20:02
SPEAKER_00: It would be that the people believe um it that certain things need to be done or need to be changed, and that he may have been an agent for that.
20:13
SPEAKER_00: And if he goes away, if it was just about him, all of the rest goes away.
20:20
SPEAKER_00: But if it was about more, if it was about some of the other things that uh he supposedly stands for, being fed up, being fed up with the way everything is going.
20:30
SPEAKER_00: Well, that's right, that's what and he got in front of that movement.
20:32
SPEAKER_00: But I would argue this, Dennis, and I and I know your head may explode, but uh Mam Dani is kind of similar in that he's in front of a movement uh of people who are not happy with the way things are going.
20:48
SPEAKER_00: And Jerry and I, I gotta play this video for you because I thought it was crazy.
20:51
SPEAKER_00: I know Jerry, you're getting raped, but I think this is this was something the other day.
20:56
SPEAKER_00: It's just maybe you've seen it, Dennis, but we wanted to get your socialism, right?
20:59
SPEAKER_01: Because it's it's a buzzword, right?
21:02
SPEAKER_01: Because socialism, will you define socialism for us because people say it a lot and don't know what it is, and sometimes those people are me.
21:11
SPEAKER_05: I'm so happy to be with those people right now.
21:14
SPEAKER_05: Um socialism to me, it means that you will have whatever you need to live a dignified life, and that it is the government's job to deliver on that.
21:28
SPEAKER_03: Oh my god.
21:31
SPEAKER_03: So it's up to government to babysit and take care of us.
21:34
SPEAKER_03: It's not up to us as individuals with freedom to build our own wealth, to build our own lives.
21:40
SPEAKER_03: No, it's up to government to make sure that we have what we need.
21:43
SPEAKER_03: Oh my God, it is so infantilizing.
21:45
SPEAKER_03: And you see that smile.
21:47
SPEAKER_03: Do you know what takea is?
21:49
SPEAKER_03: It is the Quran word in the Quran that says it's okay to lie everywhere to advance the Muslim agenda, okay?
21:58
SPEAKER_03: Takia.
21:58
SPEAKER_03: And that's exactly what this.
22:00
SPEAKER_03: This guy is practicing and socialism taking over.
22:03
SPEAKER_03: I mean, look at that.
22:05
SPEAKER_03: Europe is socialist, the US is capitalist, they were the same size in 2008.
22:10
SPEAKER_03: And today the US economy has grown 120%, and the European economy has grown less than 50%.
22:17
SPEAKER_03: That's what socialism will get you.
22:19
SPEAKER_03: And in terms of him suddenly coming out to a movement of disgruntled people, this is more manipulated than that.
22:26
SPEAKER_03: The Muslim Brotherhood, other Muslim groups targeted this guy who was born and raised in Uganda in 2014 in the U.S.
22:35
SPEAKER_03: to start grooming him.
22:36
SPEAKER_03: He became a U.S.
22:37
SPEAKER_03: citizen in 2018.
22:38
SPEAKER_03: And in his campaign for mayor, two dozen Muslim groups were funding him.
22:43
SPEAKER_03: Now it also turns out that a dozen or two dozen Democrat and labor unions also were funding him.
22:48
SPEAKER_03: But no other candidate got that kind of thing.
22:50
SPEAKER_03: And when he ran, he told a Muslim audience, we have one million Muslims in New York City.
22:56
SPEAKER_03: There's no reason we can't go take over City Hall.
22:59
SPEAKER_03: That's what his real agenda is.
23:01
SPEAKER_03: And shame on the voters in New York City where I lived and where I voted for Cuomo, I think.
23:08
SPEAKER_03: No, I voted for uh Curtis Sliwa uh in both the uh yeah uh and and if you look at what happened there, my gosh, he got more votes than Cuomo and Sliwa together.
23:21
SPEAKER_03: And yet in some districts, only 10% of voters turned out.
23:25
SPEAKER_03: Shame on the voters for letting this happen.
23:28
SPEAKER_06: Yeah.
23:30
SPEAKER_06: Well, you know, we were talking about uh getting in front of a movement.
23:33
SPEAKER_06: I think it was the Tea Party that's that started it all back in the the late 2000s.
23:39
SPEAKER_06: Rick Santelli, I remember clearly, on the floor in Chicago, and he yells up to the camera, what we need is a good old-fashioned tea party.
23:49
SPEAKER_06: And by God, that that phrase just took off.
23:53
SPEAKER_06: And next thing you know, there were rallies being held in parks everywhere, and people were turning out.
23:58
SPEAKER_06: And I think Trump recognized that and looked at it and said, you know what?
24:01
SPEAKER_06: I'm gonna put it.
24:02
SPEAKER_06: And then next thing you know, you saw Trump wearing a hat, you know?
24:05
SPEAKER_03: Yeah, and I think a hundred years from now, won't historians be stunned that the phrase make America great again could stir Americans to fisticuffs.
24:18
SPEAKER_03: So inappropriate and such a hated slogan when all it is about making our country great.
24:23
SPEAKER_00: I'm I don't think that's I don't think that's what historians are gonna write.
24:27
SPEAKER_00: First of all, he took that line from Reagan.
24:30
SPEAKER_00: Reagan uh had the same thing back in 80.
24:33
SPEAKER_03: That in no way debunks what I just said.
24:36
SPEAKER_03: Well that's not why they're doing fights, is because he took the line from Reagan.
24:40
SPEAKER_00: Well, he took the line from Reagan, and it's it's uh um and I don't think that historians are gonna write well of a president who is presiding over um an era in which we we have seen uh his popularity go down depending on what polls you want to read.
25:02
SPEAKER_00: And I know give me a break, man.
25:05
SPEAKER_03: I don't need to hear the poll uh his popularity is three times the approval rating of Congress.
25:11
SPEAKER_03: Correct.
25:11
SPEAKER_03: And that's that's the problem.
25:13
SPEAKER_03: So he's not presiding over this.
25:14
SPEAKER_03: Look, it's what the opposition is doing.
25:16
SPEAKER_00: Dennis, here's my theory on uh congressional uh polls.
25:21
SPEAKER_00: That is, everybody hates TV, but they have their favorite anchor.
25:26
SPEAKER_00: Everybody hates Congress, but they like a particular congressman or congresswoman.
25:31
SPEAKER_00: So even though they may say all of them are bums, although I do like so-and-so.
25:37
SPEAKER_03: So I I And then the same about the economy.
25:40
SPEAKER_03: They say the economy is terrible.
25:42
SPEAKER_00: As far as making America a great uh great again, I find it as an American offensive that somebody like Trump thinks he owns America.
25:51
SPEAKER_00: I got news for you.
25:53
SPEAKER_00: We became a what was it, a 26, 28 trillion dollar economy when we came along.
25:59
SPEAKER_00: There's nothing in that slogan.
26:01
SPEAKER_03: And when he leaves, when he leaves, I can tell you hate Trump, you've never voted for Trump.
26:07
SPEAKER_03: I voted for him three times.
26:09
SPEAKER_00: I would not, no, I would not.
26:10
SPEAKER_03: And and I think Yeah, because you can't stand him, and yet that's getting in the way.
26:14
SPEAKER_00: That's irrelevant, though.
26:16
SPEAKER_03: Make America great again.
26:17
SPEAKER_03: It doesn't say Trump's, you know, it's a call to greatness.
26:21
SPEAKER_03: What's wrong with that?
26:22
SPEAKER_03: We had a President Obama for eight years telling us that American exceptionism was wrong.
26:28
SPEAKER_00: We have not been great.
26:30
SPEAKER_06: And did you ever think that American is country in the world?
26:33
SPEAKER_03: What the fuck are you talking about?
26:34
SPEAKER_03: That's the point.
26:35
SPEAKER_00: But that's the point.
26:37
SPEAKER_03: That's not the point.
26:38
SPEAKER_00: That is exactly the point.
26:40
SPEAKER_00: I'm saying we're a great country with or without Donald Trump.
26:44
SPEAKER_00: That's fine.
26:45
SPEAKER_03: And I'm saying the fact that that slogan can set your side crazy shows how crazy that side really is.
26:52
SPEAKER_03: Stop it.
26:53
SPEAKER_03: I'm not a Democrat.
26:54
SPEAKER_03: Yes, you are, Bob.
26:55
SPEAKER_03: You're a Trump hater, just like Democrats are Trump haters.
26:59
SPEAKER_03: Just own it, man.
27:03
SPEAKER_03: You know, I know quite a few Republicans who just hate Trump, man.
27:06
SPEAKER_03: The Wall Street Journal on that page states.
27:13
SPEAKER_03: No, no one's bowing down.
27:15
SPEAKER_03: I think the$5,000 for every adult American is a terrible idea.
27:20
SPEAKER_03: Terrible idea that Trump came up with.
27:24
SPEAKER_00: Well, Biden offered$2,500.
27:27
SPEAKER_03: Biden offered$2,500.
27:29
SPEAKER_03: But in both cases, why give someone money when they haven't done anything to earn it?
27:33
SPEAKER_00: COVID payments, Trump was right up there giving away the money we don't have.
27:37
SPEAKER_03: Yeah.
27:37
SPEAKER_03: And that$2 trillion giveaway that the Biden administration did is what fueled inflation to 9%.
27:44
SPEAKER_00: $1.9 trillion, I agree.
27:46
SPEAKER_00: Let's remember the gasoline.
27:47
SPEAKER_00: I think Biden screwed up too.
27:49
SPEAKER_03: Let's remember the gasoline prices today are cheaper than the peak prices under Biden.
27:54
SPEAKER_00: But they're much higher than they were when Trump took over.
27:57
SPEAKER_03: Yeah, okay.
27:58
SPEAKER_03: I'd pay a dollar more per gallon of gasoline happily for a year to get rid of the most murderous government regime in modern history.
28:05
SPEAKER_00: Yeah, that's okay.
28:06
SPEAKER_00: You can buy that narrative.
28:07
SPEAKER_00: That's fine.
28:08
SPEAKER_06: Uh by the way, Bob, do you have that photograph of the statue of the fat naked golden Trump?
28:15
SPEAKER_03: I saw that.
28:16
SPEAKER_03: That's one disgusting.
28:18
SPEAKER_06: This let me that's that's a big fat Trump.
28:23
SPEAKER_06: And he's he's sitting, he's sitting on the shoulders.
28:26
SPEAKER_06: Yeah it is.
28:27
SPEAKER_06: Yeah, he's sitting on the shoulders of a little man.
28:30
SPEAKER_06: Yeah, that statue, that statue is on display uh in the European Parliament.
28:37
SPEAKER_00: Now, where is that?
28:38
SPEAKER_00: This said it was in France.
28:40
SPEAKER_00: I wasn't familiar with the place.
28:42
SPEAKER_06: Um the statue's called the Orange Plague.
28:47
SPEAKER_06: Uh, it's been put on display in the European Parliament Building.
28:51
SPEAKER_06: A Danish artist created the statue and is said to have coated the satirical statue with 24, 23 karat gold leaf.
28:59
SPEAKER_06: It sits inside the building in Strasbourg, France.
29:04
SPEAKER_06: Is also known by the name of the King of Injustice.
29:07
SPEAKER_03: You know, there's this thing called Jungian projection after Carl Jung, J-U-N-G, where we take the things we hate in ourselves, we project them onto others and decry it on others.
29:17
SPEAKER_03: That's what that statue's doing.
29:19
SPEAKER_03: Because in Europe, the median income is$24,000 a year, and that entire economy has grown less than 50% in like 20 years since 2008.
29:29
SPEAKER_03: So they're the ones who are oppressing poor people.
29:32
SPEAKER_03: They're the ones who have 1,500 people dying every year in the summer because of lack of air conditioning, because they wanted to reduce carbon emissions.
29:41
SPEAKER_06: Yeah, but also don't they have their hands full with migrants knifing and raping people?
29:46
SPEAKER_03: And you think they have time on the 200,000 girls in Britain raped over, I think 20 years, was it, by Pakistani Muslim men immigrants in the UK, which the media largely never covered.
30:00
SPEAKER_00: Yeah.
30:01
SPEAKER_03: Yeah, they've got a problem in the UN in Europe that and look at how the American media are reporting on the uh Paris protests.
30:09
SPEAKER_03: They keep students or intuition.
30:13
SPEAKER_03: Now I see Palestinian flags everywhere.
30:15
SPEAKER_03: I see, you know, you know, men in black bloc.
30:19
SPEAKER_03: Okay, they are not college students.
30:20
SPEAKER_03: The college students are just pawns, yet again, the way the Democrats have made themselves into pawns for the socialists and the Muslims.
30:28
SPEAKER_00: Yeah, Jerry, can I can I point out today's October 7th.
30:31
SPEAKER_00: Now, I don't want to dwell on that event because it it was a horrible event.
30:38
SPEAKER_00: What I do want to uh ask Dennis about is we have seen a change over the years in the perception of Israel and the perception of Jewish people.
30:50
SPEAKER_00: Polls show this.
30:51
SPEAKER_00: I'm not making it up.
30:53
SPEAKER_00: Um, and and I'm and I'm somebody that's worked in New York and had a lot.
30:59
SPEAKER_00: I mean, that this is so alien to me.
31:02
SPEAKER_00: I also grew up at a time that we understood why Israel was created.
31:06
SPEAKER_00: Uh we we were always on the side of Israel that was just trying to survive.
31:11
SPEAKER_00: They were literally attacked the day they they started as a country.
31:15
SPEAKER_00: And and yet now you see the popularity or the approval ratings for Palestinians higher than Jewish people in a lot of age groups, especially younger age groups.
31:28
SPEAKER_00: So I wanted to ask you your thoughts on that.
31:32
SPEAKER_03: Okay, so in 1977 at the University of Florida, 76, I was a freshman, and I met this absolutely gorgeous Palestinian woman who told me, you just don't know because the media is so slanted.
31:52
SPEAKER_03: You don't you have no idea, blah, blah, blah, blah, blah.
31:54
SPEAKER_03: Okay.
31:55
SPEAKER_03: Now, in the 1990s, know that the FBI has tape recordings of the Muslim Brotherhood and other Muslim groups strategizing about what they wanted to do in America to change public opinion.
32:08
SPEAKER_03: Okay.
32:08
SPEAKER_03: And what we're seeing today is the product of that over all of those uh years.
32:14
SPEAKER_03: And it's been a concerted effort on their part.
32:17
SPEAKER_03: And the media ended up going really anti-Israel.
32:20
SPEAKER_03: And yet, when I was a freshman in college at the University of Florida, I met a lifelong friend who still to this day is one of my closest friends.
32:28
SPEAKER_03: And he had just spent a year in Israel.
32:30
SPEAKER_03: Um, he's a Jewish American, a year on kibbutz in Israel.
32:36
SPEAKER_03: And he told me that he never felt more strongly Jewish.
32:40
SPEAKER_03: And his father was a rabbi when he came back because he realized this little country was surrounded by all these countries that hated it.
32:47
SPEAKER_03: And he, you know, was in a movie theater with a girlfriend and uh walked to Palestinian terrace and rolled a hand grenade down the central center aisle.
32:55
SPEAKER_03: And he had to, you know, try to cover her.
32:57
SPEAKER_03: And he said he felt so under siege, but also so united by this.
33:01
SPEAKER_03: And I always felt like in the Middle East, most of those other countries hate us.
33:06
SPEAKER_03: I don't trust Saudi Arabia, which had 17 of the 19 hijackers at 911.
33:11
SPEAKER_03: I don't trust any of those guys.
33:13
SPEAKER_03: And yet, Israel, I trust.
33:16
SPEAKER_03: It's the only country there that truly supports us.
33:18
SPEAKER_03: And yes, they need us, but we need them.
33:21
SPEAKER_03: But they're the strongest punch and above their weight nation I've ever seen.
33:25
SPEAKER_03: They're amazing at technology.
33:27
SPEAKER_03: We are lucky to have them as an ally.
33:29
SPEAKER_03: And what Hamas did on this day three years ago, it deserves every single thing that has happened to it.
33:37
SPEAKER_03: 4,000 of the 6,000 Gaza residents, Hamas members that went into Israel that day have already been hunted down and killed.
33:47
SPEAKER_03: And I look forward to the Israelis taking out the last 2,000.
33:51
SPEAKER_03: And they will.
33:54
SPEAKER_03: Right.
33:54
SPEAKER_06: I mean, these are the people, I think I've said it before.
33:57
SPEAKER_06: They literally created the phrase an eye for an eye or tooth for a tooth.
34:01
SPEAKER_06: And you're going to go try to kill those people?
34:03
SPEAKER_03: And Muslims, that that group I talked about, invented the phrase Islamophobia so that we couldn't come out and criticize Muslims every time there was another terrorist attack.
34:12
SPEAKER_03: And in the last 45 years, there have been something like 66,000 terrorist attacks by Muslims that have killed almost 250,000 people.
34:25
SPEAKER_03: But if you point that out, oh, you're guilty of Islamophobia.
34:29
SPEAKER_03: So one last thing.
34:31
SPEAKER_03: Yeah, yeah.
34:31
SPEAKER_03: Go ahead.
34:32
SPEAKER_03: Attacks on Muslims in America are at one-third the rate of attacks on Jews.
34:37
SPEAKER_03: Yet the but the Biden administration created a whole new bureau for Islamophobic attacks.
34:43
SPEAKER_04: Okay.
34:44
SPEAKER_03: So it's an entire made-up thing.
34:46
SPEAKER_03: And I I stand with Israel.
34:48
SPEAKER_00: Uh and Jerry and I do too.
34:50
SPEAKER_00: And we've talked about that before on our podcast.
34:54
SPEAKER_00: Here's my question, though.
34:57
SPEAKER_00: How do you fix it?
34:58
SPEAKER_00: Because and how did we get here?
35:00
SPEAKER_00: I think you're opposing at least part of that, is they have a long-term plan to try to change attitudes in America.
35:08
SPEAKER_00: Um I'm wondering if it's a failure of our educational system.
35:13
SPEAKER_00: It seems like they're not teaching what happened to the Jews and why Israel didn't exist.
35:18
SPEAKER_00: They are buying the argument that some put out there that the Jews oppress the Palestinians, that they are oppressed people, and the Jews by by and large, white people who are oppressing these people of color.
35:36
SPEAKER_00: And so they go with that narrative.
35:38
SPEAKER_00: And it seems like there's a great there's a lack of education as far as why Israel exists, why it exists where it is, and what the dynamics are uh with the Palestinian people.
35:52
SPEAKER_03: It's not a lack of education, it's biased education intentionally skewed against the Israel side, right?
35:59
SPEAKER_03: Look at how when when this came out, the focus in education and in some media stories were it's been so hard for Muslims since the October 7th attack on Israel.
36:08
SPEAKER_03: Hard for the Muslims.
36:11
SPEAKER_03: I mean, it's just incredible.
36:12
SPEAKER_03: But you know, guys, it's it's anti-Semitism in all of this, isn't there?
36:18
SPEAKER_06: I mean, it's not a black and white issue because there were Jews in New York who voted for Mamdani.
36:24
SPEAKER_06: Yeah, and there are Jews who don't like Israel.
36:27
SPEAKER_03: These young kids.
36:28
SPEAKER_03: These these young kids, LGBTQ, who are marching for for for Gaza and marching for Palestinians, and they would be thrown off rooftops if they went there.
36:37
SPEAKER_00: Yeah, and that there's also a Muslim uh uh mayor of London, right?
36:42
SPEAKER_00: Is he still mayor of London?
36:44
SPEAKER_03: 60 cities in the UK have Muslim mayors mayors.
36:48
SPEAKER_00: Yeah.
36:49
SPEAKER_00: And you tell me that's not a long-term plan.
36:51
SPEAKER_03: I mean, right, exactly.
36:53
SPEAKER_00: It's like that they're playing the long road.
36:57
SPEAKER_03: I I I saw uh these amazing historical figures and I checked them with Grok, which is pretty good on fact-checking stuff and debunking.
37:04
SPEAKER_03: And it said that if you go back to something like 600 AD when Muhammad was first doing whatever, and that that there's something like 20 countries today that are Muslim majority countries that back then were not Muslim majority countries at all.
37:22
SPEAKER_03: They were colonized by Muslims.
37:25
SPEAKER_00: Well, I I will take issue with some AI.
37:29
SPEAKER_00: We hear how AI is gonna kill us, but my concern is it'll kill us inadvertently because it makes so many mistakes.
37:38
SPEAKER_00: Let me let me show you a video I saw that I like.
37:42
SPEAKER_02: That's my mistake.
37:42
SPEAKER_02: You do need to turn off the power at the breaker before replacing the outlet to avoid a potentially lethal electrical shock.
37:48
SPEAKER_02: Thanks for catching that.
37:50
SPEAKER_02: Would you like me to put together a quick step-by-step electrical safety checklist?
37:58
SPEAKER_00: That's the reaction.
38:01
SPEAKER_00: Literally, like a month ago, I had a guy uh I had to work on my car, uh long story, um, but I needed to jump it.
38:09
SPEAKER_00: And for some reason on the battery it wasn't marked.
38:12
SPEAKER_00: You know, you usually have a plus and a minus, and the and you set up your jumple cable.
38:17
SPEAKER_00: So I just took a picture and put it in and asked Chat GPT, okay, which one of these is positive?
38:21
SPEAKER_00: And I told me.
38:22
SPEAKER_00: So I put it on there, no, it was wrong.
38:25
SPEAKER_00: And I and I said, You got that wrong.
38:27
SPEAKER_00: He said, Okay, take another picture and said, No, I think I got the answer now.
38:32
SPEAKER_06: Thanks the whole lot.
38:33
SPEAKER_00: 50% video I thought, yeah.
38:36
SPEAKER_00: I worry about uh um, yeah, I worry about AI killing us, not meaning to.
38:42
SPEAKER_03: Utterly inadvertently.
38:44
SPEAKER_03: Oh, was that the missile codes?
38:45
SPEAKER_03: I'm sorry, I thought it was a game of bingo.
38:47
SPEAKER_00: Worry about that whole human race thing.
38:49
SPEAKER_03: Yes, well, that's that's all I am today, guys.
38:52
SPEAKER_03: Oh uh, although, you know, just one more thing about that.
38:56
SPEAKER_03: Again, because of the X platform, when that first kid came out and said, Oh my gosh, I'm resigning from Anthropic after three months there because they they're worried that it's gonna kill us all.
39:06
SPEAKER_03: And then his tweet he had never posted before, he had no followers.
39:09
SPEAKER_03: It gets posted by four key guys that are in the degrowth movement against AI, right?
39:15
SPEAKER_03: Because they want the big companies to kind of get get get a lock on it.
39:18
SPEAKER_03: They instantly put it out to 140 million views.
39:20
SPEAKER_03: UNC realizing that all of this was orchestrated, it was a psy-op, it was planned, and and and it wasn't at all this grassroots things that appeared, and X debunked that on the first day.
39:32
SPEAKER_00: Okay, we only got like two minutes left, but I gotta ask you this.
39:35
SPEAKER_00: My theory is the guys who are in charge of developing AI are now telling us that there's a danger in developing AI.
39:46
SPEAKER_00: And what I'm wondering, Dennis, is is it possible that out of the billions, if not trillions of dollars that have gone into these companies to develop the AI uh capabilities, that they realize they're not gonna be able to deliver at the bottom line.
40:02
SPEAKER_00: And so they're trying to slow it down and blame it on something else uh because they're not they're not gonna Oh no, it's not that, it's that this is the Marlboro man strategy in the 60s when the government said, you know what, cigarettes are dangerous, we should get them off TV.
40:21
SPEAKER_03: You know, Philip Morris, the maker of Marble, came out and said, Yeah, you're right, let's take those ads off TV.
40:26
SPEAKER_03: Because then they made sure that no startup brand with a great ad campaign could topple it.
40:33
SPEAKER_03: And that's what anthropic control and and uh uh open AI are doing.
40:37
SPEAKER_03: You know, Elon Musk, the reason he put up the first$50 million for OpenAI, took no equity.
40:42
SPEAKER_03: Today, that$50 million would be worth hundreds of billions of dollars.
40:46
SPEAKER_03: But the reason he set it up is because he thought Google and Microsoft are gonna blow this, they're reckless, they don't realize the dangers.
40:53
SPEAKER_03: This could get out of control.
40:55
SPEAKER_03: He truly believed that.
40:56
SPEAKER_03: And in the end, OpenAI ends up aligning with Microsoft.
40:59
SPEAKER_03: The opposite outcome happened.
41:01
SPEAKER_03: But now these guys want regulatory capture, right?
41:03
SPEAKER_03: They want to stop all the other little guys because they could come in, open source it, and they can do it at a tenth of the cost.
41:10
SPEAKER_03: And yet these guys have already committed, like you said, Bob, hundreds of billions of dollars.
41:14
SPEAKER_03: Now, did you see Greg Ipps' incredible story, I think over the weekend in the Wall Street Journal saying, I've we've calculated how much investment they've announced.
41:23
SPEAKER_03: And basically, AI would have to be 9% of GDP going up to 2020, 35 to pay off this investment.
41:31
SPEAKER_03: I agree.
41:32
SPEAKER_00: And that's what I think they're doing, is they're trying to justify slowing it down.
41:36
SPEAKER_03: But the one flaw is that AI already is 8.8% of GDP.
41:40
SPEAKER_03: And the thought that it goes down rather than up as it goes in and powers more productive economy, I I think 9% won't be any problem at all.
41:48
SPEAKER_00: Well, Jerry, I think it's come down to two words.
41:53
SPEAKER_06: Free birds.
42:23
SPEAKER_03: I love it.
42:24
SPEAKER_03: Thanks a lot, guys.
42:25
SPEAKER_03: I appreciate the oxygen.
42:26
SPEAKER_03: It's great to see you.
42:28
SPEAKER_06: Thank you, Dennis.