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The unfolding war over America’s economic soul gets serious · Cultural Wars | America Out Loud News

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Broadcasting around the world.
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This is on the record with Christian Briggs.
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Serious talk about what's happening around the world and how it affects you.
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Unfiltered truth for a world on edge.
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Follow us on X at BMC underscore H AM live in three, two, one.
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Okay, welcome back, everybody.
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Today we're gonna be really diving into the tariffs.
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I've got two of the smartest people.
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I think we have three PhDs between the four of you because you got two personalities.
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We've got the good guys and the bad guys in the room.
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So today on the record, we're gonna be talking about the tariffs, China bricks, and what the heck is this National Defense Authorization Act where the anti-CBDC language was pulled out.
0:47
That's that's what I want to know.
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Why did you guys pull it out?
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Not you guys, but those guys, the guys up north.
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Why would they have pulled that out?
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Why would Elizabeth Warren be able to get some Republicans to take out the very language that supposedly is communist?
1:01
It's communist, right?
1:02
Yeah.
1:03
Okay.
1:03
Not great.
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So we've got Christopher.
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I can say it.
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Christopher Walker.
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I want to say Christopher Walken every time.
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I know.
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The actor, the man, the myth, Jeremy Tharp.
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Jeremy Thorpe.
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Okay.
1:14
Jeremy, say hi.
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Wave.
1:15
Hi.
1:16
Hey.
1:16
No, it's this way.
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What you're close.
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That way.
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Okay.
1:20
So today we're going to be talking a lot about exactly what exact what is the extent of the tariffs and how bad, if any, maybe they didn't hurt the economy, would be foolish to say that probably, but buddy, so today we're going to be talking a lot about the tariffs because it has become an issue.
1:36
It's it's not just political, it's financial.
1:38
It's it and it doesn't just stop at the door for the manufacturers or the importers that are bringing this stuff in or bringing parts in, certainly the manufacturer.
1:49
The kind of stuff that we were trying to bring back domestic uh here, you know, Trump's got a pretty good plan.
1:54
He's trying to say, hey, look, we're gonna we're gonna make it expensive for you to buy overseas manufactured imported things, whatever those things are, from cars to airplane parts all the way down to furniture.
2:06
And the reasoning behind it is actually pretty solid, and the amount of money that can be raised from the tariffs are pretty good.
2:12
The problem is is who's paying the tariffs.
2:14
If it's a guy making 70 grand a year buying the essentials, things of which that he has to have, and they're 30%, 40% or 50%.
2:22
Hell, if they're 10%, that's 10% inflation on at least a portion of what he's spending on, that is not good.
2:28
So we're gonna talk today with two guys who know this business because they've lived this business, and we're gonna ask them, and then we're gonna go right into China and BRIC.
2:37
So, how is China playing the tariff war against us for their own benefit?
2:41
And number three, which is mind-boggling why the National Defense Authorization Act last week was able to get stripped out, very specific language that is a deterrent for a central bank digital currency, which is programmable money, because once that comes out, you can't take it back, and next thing you know, all of your wealth, all of the things of which you you transact with, whatever we're gonna call these tokens, I don't know what the hell you want to call them.
3:06
They're not dollars, stable coins.
3:08
I don't even know where the hell stable coin came from.
3:10
It's not stable.
3:11
Yeah, it's not a coin.
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Just call it an algorithm.
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Call it funny money.
3:16
It's called monopoly money.
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It is the hard I uh I I don't know who defined it and how that came about, but it is the worst definition.
3:23
The worst definition in history.
3:24
Yeah, and they promote it like it's good.
3:26
Yeah, it's not good.
3:27
It's like it's like trying to do brain surgery yourself with a mirror, a butter knife, and a spoon.
3:32
I don't think that's gonna work that well.
3:34
I mean, you can give it a shot, but at the end of the day, you gotta look at it for what it is.
3:38
Stable coin is not a stable coin.
3:39
It's not even stable, it's not even a coin.
3:41
It's it's really just a form of communistic fake money.
3:46
Yeah, because they can control it.
3:48
Okay, here we go.
3:48
Digital money.
3:49
Digital money.
3:50
Yeah.
3:50
Okay, Christopher, take it from there.
3:52
What do you think it is?
3:52
Okay.
3:52
Or we can talk to tariffs.
3:53
Don't talk tariffs.
3:54
Tariffs.
3:54
I gotta talk tariffs.
3:55
Jeremy, we're talking tariffs.
3:56
Okay, go ahead.
3:57
Um, what's your thoughts?
3:58
Uh well.
4:00
I think tariffs uh I think you said it really well.
4:03
There is revenue that can come from it, but I think there's a couple pieces of this that are missing in the conversation.
4:10
One, I think there's a messaging problem here.
4:13
Um the president has gone out there and kind of talked consistently, and he's been consistent on since the 80s, frankly, um, about the benefit of having tariffs as a tool for revenue and for trade.
4:26
The problem is um it's being sold as an easy solution to budget problems, and it's not.
4:35
If you're going to go to a tariff-based revenue model for the federal government, one, you should be lowering taxes, and two, we need to be talking about the long-term um shift.
4:47
I mean, this is a 10-year project potentially to get out of the entire global economy and be reshore a lot of these things.
4:53
It's gonna take a long time.
4:55
Nobody has patience for that, but that needs to be kind of what some of the messaging is around tariffs.
4:59
If we're full in, the problem is we're kind of half in, half not.
5:02
We'll do one a tariff on one day and we'll kind of pull it back the next day because the bond market crashes.
5:07
And so we've talked about them a lot.
5:10
A lot of people are paying tariffs, but I don't think they're we're we're kind of half pregnant here on it, and it's not actually doing anything particularly beneficial to the economy because it's raising prices.
5:20
You're gonna have consistent price raises now because once they're up, they're not coming back down.
5:24
So you have people being able to use tariffs as a as a means to raise prices can like forever and blame President Trump on it rather than actually knowing what the market rate is for certain things.
5:36
So, you know, uh, and I also think unfortunately from the president's standpoint and the in the White House staff, um, trade deficits are not a good indicator of the need for tariffs.
5:46
They are um, you know, we have a trade deficit with a lot of people in part because they make goods that we don't, and that's fine.
5:53
Um, so you know, I'm generally a free market guy.
5:56
I think the the world has benefited from free trade, as Rand Paul said.
6:01
Um if goods don't cross borders, soldiers will.
6:05
Um, and I think there's some truth to that, and I think free trade is the best way to kind of ensure economic mobility and upward mobility.
6:13
Um, we're in the freest, most uh um open society we've ever had, and that's in part due to free free trade.
6:19
And I think of protectionist policy one, we've seen it happen in Great Britain in the 1940s, and what happens after that is that was American ascendancy.
6:27
Is we get into a nationalistic protectionist frame of mind, China becomes ascendant, and I think that's actually incredibly dangerous, both for world economic stability and also American supremacy over the long haul, and we are falling into that trap right now.
6:42
That's well said.
6:43
We're we're we're going too far in the protectionist mode.
6:46
What do you think, Jeremy?
6:47
Um, you know, I see it from a real world perspective.
6:50
Because uh, you know, one of my clients is a global tractor brand.
6:54
Um, you know, and I work in marketing for that brand, and you know, marketing globally has become difficult because they've seen 50% increases on parts and equipment.
7:05
Um, I mean, uh, I'm seeing it real time, and they, you know, from that perspective as well.
7:11
Farmers are seeing it real time.
7:12
Absolutely.
7:13
Um, so you know, it's it's interesting to see, and you know, the the budgets have been slashed literally in half, you know, and that's just one brand.
7:21
Um, and as they, you know, as more come across and we see more budgets for 26.
7:26
Um, we're seeing the same thing across the board.
7:28
And that could be anything from anything imported, anything, you know, domestically too.
7:32
We're seeing you know, domestic products go up and and budgets being slashed.
7:36
So from a marketing perspective, um, definitely seeing a decrease in a and a big increase in price.
7:43
Yeah, and that that's not sustainable.
7:45
No, that's not sustainable.
7:47
So when you look at the impact, let's just take it, let's just take widgets.
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The things of which are maybe from 50 cents to $10 to manufacture in China.
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And then you add probably a two to 300% increase in the in the price by the time it gets a distributor, another two to 300% by the time it gets to consumer.
8:02
So a dollar product could be $5, $6 retail consumer.
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Could be as high as $10.
8:07
That's okay.
8:08
It's not too bad.
8:09
Because it it's at the lowest point of manufacturing and the lowest point of consumption price model.
8:15
That's what it is when you're manufacturing in China without tariffs.
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It's at the absolute lowest point.
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Everybody in that supply chain tries to find the least cost related to that specific item from manufacturing to transportation, distribution, and then also ultimately retailing.
8:29
But all of a sudden, that $10 product, not at the dollar manufacturing side.
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The $10 side is now 50% higher.
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And sometimes that $10 item is a critical product.
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It's not just some ornament on a Christmas tree, which could be significant because the seller of that now can't sell it because the $15, $30.
8:50
Have you seen ornaments by the way?
8:52
Those class ones, the tariffs.
8:54
Those things blew up.
8:55
They're like $50.
8:57
$50.
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I'm not paying $50 for a $25 item last year.
9:01
So who's going to suffer?
9:02
Everybody in the supply chain.
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Everybody suffers.
9:06
It's not China that suffers the most.
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They've got manufacturing partners all over the world.
9:11
So now you have a consumer that says I'm not going to buy it.
9:14
And you go to these stores like Michaels or Hobby Lobby, Target, uh, Walmart, and their sales are down, which means that hurts their profits.
9:22
Company bonuses go down for the employees, salaries don't go up.
9:26
Why?
9:26
Well, because they're not making as much money.
9:28
The consumer's not spending because they can't afford it, or they don't feel the value is there.
9:33
Yeah.
9:34
I mean, a lot of people that have a lot of money can say to themselves, oh, I can afford it, but I don't want to spend it.
9:40
Well, we've seen a lot of people making choices right now.
9:44
You know, uh uh tourism spending is down.
9:47
Um, you know, we we we've got uh restaurant spending is down.
9:50
We've we've heard from even like the CEO of McDonald's saying that they're seeing people uh skipping meals where they wouldn't have before.
9:57
Um it it it it impacts not only those.
10:00
Businesses, but all of the ancillary businesses that are just part of our general economy because people want to go out to eat, they're doing it less.
10:06
So that impacts that business as well.
10:08
So again, I think that goes to the point of like this is going to be a 10-year transition if we're going to go to a tariff-based model.
10:14
The problem is, and I think you and I talked about this before we went on air.
10:18
You know, Democrats in Washington are willing to wait the president out.
10:22
And so from a standpoint of policy, we don't have the patience or the wherewithal to hold the line on a tariff-based federal government, you know, policy.
10:34
And again, I just maintain if you're going to talk about revenues for tariffs, then you have to lower taxes.
10:40
And um, because now you're you're hitting taxpayers on both sides, both on the tariff side that are you know, people are paying the tariffs, but also we're still paying the same rates of taxes.
10:50
And so it's a double whammy on the taxation and on the on the um decrease of of economic confidence.
10:57
This is a triple whammy on in terms of of its negative impact on the economy.
11:01
It's concerning to me that we're not addressing that larger issue.
11:05
So again, like I'm all for tariffs if that is our main source of income, great, but it's not because we still have an income tax, we still have a wealth tax, we still have all these other taxes that are still being implemented, and so it's it's it's double dipping on a revenue stream for the federal government, which is uh incapable of even managing an audit for even the Department of Defense.
11:24
So when you're asking for more money for a Leviathan that can't even cut the USAID program, it starts to get a little concerning to me of like what are we actually doing here?
11:33
Good point.
11:34
Yeah, what are we doing here?
11:35
So he's right.
11:36
So if you have a tariff, and let's say it's 10%, 50%.
11:41
Not only are you taking so much cash out of the economy, is the revenues worth the destruction of the economy for that bottom half of America.
11:52
Yeah, I don't know.
11:53
I mean, I would love to see, you know, I think tariffs in general, to me, as an idea makes sense.
11:59
And you know, I I would like to see that model work, but you know, I to your point, like I don't I don't know, double dipping doesn't work.
12:07
And when does it actually kick in and when does the uh you know the the breaker flip to where tariffs can actually really you know support the economy?
12:16
Um I I don't know that I I don't know the answer to that question, but um to me I think they work fundamentally I would agree with that if they're stable, and I think that's Congress one needs to reassert itself.
12:30
Congress has been completely uh they're just spectators in the situation right now.
12:34
Um the president wants um as much amiability as possible to be able to set tariff rates.
12:39
One, I don't think that's constitutional, and two, what do markets want?
12:42
They want stability.
12:43
What are we seeing?
12:44
The opposite of that.
12:46
You know, we somebody creates a documentary in Canada and all of a sudden tariffs go up by 50% because the president is mad about it.
12:53
Look, like I understand the negotiating thing.
12:56
I think sometimes people take President Trump too literally when you know he's literally written about this in the art of the deal.
13:00
He's literally negotiating on Twitter, fine, or I'm sorry, on true social for him, but um it leads to instability, which makes the markets harder to you know know one, what they're paying, they just want some level of understanding.
13:15
If I'm making a widget or if I'm in steel or if I'm in construction, what are my costs so I can like do it effectively?
13:21
We still don't know day in and day out what the cost of steel is going to be because the tariffs keep changing.
13:27
And it goes country by country, it's not even consistent.
13:30
So, you know, one, I think Congress needs to step in, and I think the Supreme Court's gonna rule against this tariff policy over time, and two, um, you've got to have some, you know, uh I I like the president's ability to negotiate.
13:48
It's important.
13:49
He's a businessman, and I think it he knows he understands that, and I think it's good, but I also think this isn't a business, and in terms of running national policy from a federal government perspective, again, you just need a little stability.
14:00
We're we're seeing anything but that right now.
14:03
Yeah, we're not seeing stability.
14:04
Yeah.
14:05
You know what?
14:05
It reminds me of of somebody who's walking down the aisles and it's your passionate products, whatever those are.
14:13
If it's if it's purses for girls and they're just in hoopala mall of different brands, I want this, I want that, I want this, I want that.
14:20
It's it's sensory overload.
14:22
I think he's got tariff overload or at least revenue overload or discounting the value of the hardship people are having right now.
14:30
And I'm a big proponent of tariffs.
14:32
I support the tariffs in a manner in which that has a minimal amount of impact on the bottom half of America and a maximum impact on deficit spending and debts.
14:41
I think the maximum impact has value, and it does.
14:45
But I see the farmers, let's take the soybean thing.
14:47
Yep.
14:48
What a mess.
14:49
Yeah.
14:50
Yeah.
14:50
Suicide rates skyrocketed for these poor farmers.
14:53
Yeah.
14:54
You know, I don't know if you know the story, but it was so bad, and it's still so bad.
14:58
And nothing's changed.
14:59
The money hasn't started flowing aggressively like it would like it should have been.
15:02
We should have never had that problem in the first place with soybeans, corn, wheat, all these different commodities were slow bucked by China or just continued or discontinued completely.
15:12
But there was a there was a story that I that I read about farmers all over America, but I guess Arkansas got hit really hard.
15:20
Oh, yeah.
15:21
Okay, really hard for soybeans.
15:22
West Tennessee, too.
15:23
Did it with the Missouri?
15:26
Okay, well, there we go.
15:26
So it's it's nationwide then.
15:28
All right.
15:29
Well, that the tractors, because the farmers were going broke so quickly.
15:33
I mean, that we went from income to zero.
15:35
And most of the farmers have no cash on hand.
15:38
They live and die by how the how the weather treats them, right?
15:41
And how it usually is the weather, and what the harvest is, and that these farmers were committing suicide at such an unprecedented rate.
15:48
I don't think it slowed down actually, that their attracted to come to auction.
15:52
And if they knew that the tractor or any equipment for that matter was related to a suicide of a family or a farmer, nobody was allowed to bid on them.
16:03
Nobody.
16:04
Because it was going to pay off usually bank debt, loans, you know, against the tractors, the house or whatever it might have been.
16:11
Zero.
16:12
And God bless those farmers for making that a mandate.
16:15
Nobody should be able to take advantage of someone's hardship like that.
16:19
Yeah.
16:20
Agree.
16:20
You know, and that was that was a heartbreaking moment when I read that.
16:23
I had to read it twice just to get the the gist of it.
16:26
And I'm like, who are these people?
16:28
Who are these people that at the end of the day feed off that?
16:35
And I want to know who in the administration was actively saying it's worth the effort.
16:41
Is it worth the effort?
16:42
Well, uh no.
16:44
No.
16:45
In my view, no.
16:46
And I would also argue, you know, there's been talk in Washington about doing a farm bailout in in response to the harm that the tariffs have caused to the farmers.
16:55
Don't do the tariffs, and you don't have the farmer issue.
16:58
Um, you know, look, we're Americans, and this is again a messaging issue that I'm just not sure why the president continues to double down on this.
17:05
Um, you know, he's talked about how kids should just have two dolls instead of 27.
17:10
In theory, he's right.
17:12
But Americans want choice, they want cheap products.
17:17
And putting American goods on the global marketplace is the best way to ensure that our farmers get the biggest bang for the buck for their products, but also all of our manufacturing.
17:28
Reshoring is important.
17:29
I agree.
17:30
And China's been eating our lunch.
17:31
The president is not wrong on the fact that China's been eating our lunch, and it's an unfair trade advantage from the standpoint of that they are underpricing and they um their their uh um their labor costs are so low, partly because they're a communist country and they don't care about capitalism per se.
17:46
That's true.
17:46
But they are in a position where um, you know, there isn't a um, you know, China just isn't playing fair.
17:55
So, like, yes, that is a situation that I think tariffs are um warranted for China in a targeted way, but again, we didn't have to do this for our farmers for um, you know, all the other things.
18:07
Friends of mine in the construction business are having a hell of a hard time figuring out how to build right now because they don't know what the goods are going to cost.
18:14
So uh a planning for a new building in West Tennessee probably has an increase of of potential of potential costs of 30 to 40 percent because they don't know what their materials are going to be.
18:26
And so again, this this was unnecessary from a standpoint of okay, we're trying to dissolve a budgetary problem in Washington, but we're artificially increasing spending for everything and delaying growth of construction here in the country.
18:39
What do you think?
18:41
Yeah, I mean tariffs are complicated, and you know, I feel like is there a world where there is a blanket tariff?
18:48
I know every country's different, I know every industry is different.
18:52
Um I know that was brought up when they first started negotiating the deal, but uh to me the complications around tariffs are because they are so variable over every different country, every different sector, every you know, every different industry.
19:06
Um if we focus more on the ones that are hurting the most people, which is you know, farming equipment, soybean exports, that sort of thing.
19:15
I mean, why couldn't we individualize every single industry that's hurting us the most, focused on those tariffs and then bring those back?
19:22
Ratchet those back to where it you know doesn't hurt the consumers much or or the producer as much.
19:28
That's that's to me what if anyone is able to do that, if he's able to make that policy work, I don't know.
19:34
Well, and again, I'd like to see a plan.
19:37
You know, I mean, I this isn't just uh a true social um experiment.
19:43
If you're going to make this massive trillion dollar economy um economic change, you need an on ramp.
19:52
You need a plan for how to get there.
19:54
It's a five year plan, and okay, we're going to be doing it this way.
19:58
2025, we'll be doing this 2025.
20:00
We'll be doing this, 2027, we're going to do that to ensure reshoring.
20:04
You know, if you're Ford and you have a factory in Mexico and you're being in disincentivized to be in Mexico anymore, you have to be in the United States.
20:11
That's a seven year window to get your factory here built and removed and all these other things.
20:17
So in the meantime, you're just having punitive cost for the idea of something that would happen in seven years when you have another people like, well, we're just gonna wait Trump out potentially.
20:28
So I I think Liberation Day, I think was a was a massive mistake.
20:33
And I would also argue that from a stand because I think the premise of it was wrong, but on top of that, I would also argue that there wasn't a long-term plan for it.
20:42
You need to have some type of seven, eight year here's how this is where we're going.
20:48
Get the get the public buy-in to get there.
20:51
You can't just go on Joe Rogan and say I like tariffs and then say people are okay with it.
20:54
Like this is impacting everybody.
20:57
And so I think from that standpoint, we've kind of missed a window to be able to say, here's why we're doing this.
21:02
It's not just a revenue thing for Washington, but this will strengthen America in every possible way.
21:06
I just don't think I think that's been a failure of communication on that front.
21:09
Oh, huge, huge failure of communication.
21:11
I agree with that 100%.
21:13
No, I I would say that the the White House, liberation day, April 3rd, I believe it was this year.
21:20
And the bond market crashed in Europe.
21:22
It literally crashed and had to repeal part of the tariffs the next day.
21:25
I mean, I was where I remember watching, going, oh boy, this is gonna be good.
21:30
And the Dow dropped 10%.
21:31
Yep.
21:32
You know, people were like freaking out.
21:34
You can't, you can't just raise somebody's cost of living by two and a half times in one day, and think that's gonna be normalization within any social.
21:43
I mean, the social impact alone, the can you imagine the fear these people had?
21:46
Yeah.
21:46
I mean, the the the oh my god, what's gonna happen and the markets are crashing, bond markets are I mean, nobody and then you have the fiscal impact.
21:54
First, it's the social, it's like the the mental.
21:56
You know, oh my god, that is a train.
21:58
Uh oh, I'm tied up on the tracks.
22:01
Well, when you were looking at the I feel like I'm being overly negative on it, and I guess I'm not gonna be able to do that.
22:05
Well, yeah, I almost warrant, though.
22:07
It's almost warned.
22:08
You know, you saw the data from from the chart that he that he showed that was wrong.
22:12
I mean, it was terrible.
22:14
It was a Chat GBT created chart on trade deficits that was inaccurate.
22:18
I know, completely inaccurate.
22:20
Yes, we're gonna have trade deficits with smaller countries, but that's good.
22:23
That means our our goods are going overseas and being going at competitive rates.
22:28
So the idea of trade deficits in of itself does not mean that one party is getting posed on the expense of the other.
22:34
It means both sides are winning.
22:37
And I think the idea that you're approaching trade from the standpoint that there's a winner and a loser is um anathema to the idea of free trade and creating an environments where people are prospering.
22:49
So instead, you have the situation where you're saying, okay, well, that trade imbalance here equals we're getting taken advantage of is is it sounds right, but it's not right.
23:00
And so again, I just I think some of the premise of this is is inaccurate.
23:04
Well, I agree with that.
23:05
I agree with that.
23:06
So I mean, I agree with you.
23:10
I really do.
23:11
Um it's hard hard to argue against it, isn't it?
23:13
I'm trying to find I'm trying to be there's affirmative and a narrative, and I'm trying to be the affirmative here, but but I can't find holes in what you're saying.
23:20
I'm a free trader.
23:21
I I I make no apologies for it.
23:23
Yeah.
23:23
Do I think we need you know 120% tariffs on some crazy island we've never heard of?
23:28
Like that was just to me, kind of showcase, you know.
23:32
Yeah.
23:33
Yeah.
23:33
The countries that matter.
23:35
Um, we need to have fair trade a hundred percent.
23:37
China.
23:38
Japan, the ones that we actually trade with.
23:41
But I think the rest um it's just it's just nonsense really.
23:46
It is.
23:46
If you had a focused tariff strategy on China, and I know we have uh a strong um competitive disadvantage with China on several fronts right now, but if you were going to actually work on trying to fix the China problem, that would be the best way to go about it.
24:02
Start there, build the relationships, and introduce the tariffs on Chinese goods.
24:08
I think that would have been a happy medium to where we are rather than doing the whole macro global economy and kind of setting everything up for massive chaos.
24:17
Yeah, yeah.
24:17
Well, I loved it when he when he did the liberation day and he had Brazil and the AI said, Oh no, we're running a trade deficit.
24:24
No, I looked it back up.
24:26
We're running a huge surplus with Brazil.
24:29
The hell are you doing?
24:30
And it took months for them to realize that that that board they put up, and and it's not Trump's fault to the extent.
24:37
He goes and he hires good people or the people around him that are supposed to give him information that is 100% accurate.
24:44
Oh, he's failed by his staff on that day by by by huge measure.
24:48
Um but you know, also um, but it was based on the premise of we want to find trade deficits.
24:54
But yeah, you can't chat GPT your way through it.
24:58
That's stuff that's not always accurate.
25:00
It is very important.
25:00
Trust me, I I've I've I've had fried eggs on my face a couple three times going, did you see what Chad or this or this?
25:07
And people are like, no, that's wrong.
25:08
Oh, it is.
25:09
Oh, sorry.
25:10
Okay.
25:11
But we we had a we had a multi-trillion dollar meltdown in the markets the next day.
25:16
The bond market was trillions.
25:18
We were like on the birds of default.
25:20
Yeah, people were dumping our bonds, and all you had to do is spend an extra $15 a month on maybe an org $15 an hour on an intern, they would have said, Mr.
25:30
President, that's not accurate.
25:31
Oh, well, thank you, Susie.
25:32
I appreciate that.
25:33
Oh, you just say it was $13 trillion in economic impact.
25:37
It's like wow.
25:38
Rich Lowry was talking about how he asked ChatGPT about what how the Yankees should improve their pitching, and Chat GPD suggested them trade for a pitcher that was already on the Yankee staff.
25:49
Oh, you know, it's like they were right.
25:53
Well, kind of.
25:54
Yeah, kind of.
25:54
Just play this guy over that guy.
25:56
Where's that guy?
25:56
Well, he's on the bench.
25:57
Who's he playing for?
25:58
Us.
25:59
Oh.
25:59
You know, okay, cool.
26:01
AI has some some some benefits, but you cannot rely on it solely for information.
26:06
And you certainly can't put the president of the United States out there based on AI and say, here's here's the facts.
26:12
No, no, no, no, we can't do that.
26:14
We can't do that.
26:14
George Bush will be like, that's bad.
26:16
That's not good, that's bad.
26:18
Wouldn't be prudent juncture.
26:20
That's right.
26:21
All right.
26:22
Well, so we're gonna take a break.
26:23
Okay.
26:23
Okay, we're gonna talk about uh China, because it it segues from tariffs because the tariffs were really to affect the trade deficit and the imbalance of fairness within the China US relationship.
26:38
That's really what it was about.
26:39
And so everybody else was kind of either a partner with us or a casualty of war of Liberation Day.
26:45
So we'll be right back.
26:47
We're talking tariffs, China bricks, and then we're gonna talk about this unbelievable disaster last week on digital currency that nobody wants.
26:59
Nobody wants this.
27:00
What's wrong with our cash money?
27:02
What's wrong with privacy?
27:04
What's wrong with having a driver's license versus digital ID biometrics?
27:09
What's wrong with having communication over social media?
27:12
Now we're gonna have a social media slash credit score.
27:16
The hell's going on.
27:17
Terrifying.
27:18
Terrifying, scary.
27:20
All right, like Halloween, but every day for the rest of our lives.
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So we'll be right back.
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Well, I challenge you to find a broader array of great voices, a deeper bench of experience or a more dedicated collection of passionate patriots than here on America Outlaw.
33:24
Now is our time, my fellow Americans.
33:28
America Outlaw dot news, liberty, and justice for all right.
33:44
Welcome back.
33:45
We just talked about the tariffs and and really kind of just gave a really heartfelt understanding, at least from a we're not in the administration.
33:53
Are you part of the administration?
33:55
No, we're not.
33:56
Okay.
33:56
Just making it sure.
33:57
So I know I'm not.
33:59
Not in the sense of trying to help shape policy on a day-to-day basis.
34:03
I mean, we obviously have influential friends up there.
34:05
We know people, we try to do the best we can.
34:07
We want them to do well.
34:08
We want them to do well.
34:09
We want them to do well because it it continues to grow the party base on the more of a conservative platform of fiscal responsibility.
34:19
That's really what it's all about.
34:20
When you think about the Republicans, we all pretty much agree on a lot of the social issues with Democrats to some extent.
34:25
Not quite.
34:27
There's some overlapping understandings.
34:29
But when it comes to fiscal policy, we couldn't be further apart.
34:31
That's right.
34:32
Democrats want 90% tax rates.
34:35
Republicans want 30% tax rates, meaningful tax rates that still help the government keep our borders safe, our military active and things like that, and social services are obviously there.
34:46
Democrats want 90%.
34:47
But the tariffs make it look like we're at 50 to 60, 70% taxes because someone's got to pay this stuff.
34:54
And China is playing a really smart game.
34:57
They did three primary things over the last 30 years, which was brilliant.
35:01
Indoctrination of communist policies or at least Marxist ideology within universities, and now they're going into the high schools, the junior highs, to the elementaries.
35:11
The K through 12 is now their new target.
35:14
Brilliant.
35:14
They really did the last 50 years.
35:16
Really since Nixon uh went over there and saw a Mao in 71.
35:20
Remember those days.
35:22
You know, I mean it was like a disaster.
35:24
Why would you do that?
35:25
Well, you wanted to normalize trade.
35:26
You want to normalize business opportunities, which was brilliant in the sense, but it was what it was not so much that he didn't put barriers of manufacturing.
35:34
And when they when they joined the World Trade Organization, they they cheated.
35:38
They've been cheating every day since.
35:39
And who was Nixon's ambassador to China?
35:41
Harry Kissinger.
35:42
Nope.
35:42
George H.W.
35:43
Bush.
35:43
Oh, George Bush, you're right.
35:45
Kissinger was secretary of state.
35:47
You're right.
35:47
It was the Bush.
35:48
I did know that, but you reminded me of that because he negotiated the trade deals.
35:52
Yes, he did.
35:53
That's right.
35:53
You're right.
35:53
And Kissinger negotiated bigger policies on a much much grander scale.
35:58
Yep.
35:59
And in fact, Kissinger was the one that convinced Nixon to get off the gold standard.
36:02
Disaster.
36:04
Disaster.
36:05
Here comes China going, yeah, you dumb.
36:09
One, you're going off the gold standard, tootle to the dollar.
36:13
Boom.
36:14
You let us in the WTO, tootles to your manufacturing.
36:17
And then Bill Clinton put the nail in the coffin with NAFTA.
36:20
Remember that?
36:21
Yep.
36:21
And Ross Perot was right.
36:23
He was a brilliant.
36:24
I'm I was fortunate to meet him a couple times.
36:27
And his son is also very, very, very smart.
36:29
Junior is very smart.
36:30
Rospo Jr.
36:31
and his dad.
36:32
They're great combination of the two of them.
36:34
Um in intelligence and understanding, both fiscal policy and politics and diplomacy and democratic, you know, things of which that we almost kind of compare Nixon to a Democrat.
36:46
Let's destroy the dollar.
36:47
We'll create inflation.
36:49
I wanted to get re-elected.
36:50
We have bad trade policies.
36:52
We inflated the uh the money supply, things like that.
36:57
You would think that they're Democrats.
37:00
But they're just dumb people.
37:02
Ignorant people, people that would just try to stay into power longer, but China's playing the game.
37:07
Your client is a tractor manufacturer and a big one.
37:11
Right.
37:11
Huge.
37:12
What do they think about this?
37:14
Um are they made in China?
37:16
They're parts.
37:17
Based in Japan.
37:18
Based in Japan.
37:19
So you know, not much different.
37:22
It's like I was saying, like, you know, we're seeing cuts on, you know, spending 50% of sometimes.
37:28
We're seeing uh equipment hung at uh import um you know all across the world.
37:36
So I mean there's definitely implications to it.
37:38
Um and like I said, it's going back to you know, the farmer, the construction worker, um, and they're having to raise their prices.
37:45
Like they've raised prices on um, I'd say almost all their equipment.
37:52
Parts two, or two.
37:54
Parts equipment.
37:55
There's sometimes there's some things that are made here.
37:57
I mean, there's uh a manufacturing plant in Georgia that's you know, a lot of it's put together out, but it's still gotta get imported here.
38:04
Engines, parts, um, all of that gets imported.
38:08
And uh, it's hurt, it's hurting, you know.
38:10
They're they're trying to be more dominant in America, and they already are a dominant company.
38:16
Um, but when it comes to the American made companies, which still import their their lottery parts or source overseas.
38:24
It's being felt across the entire industry, but uh their sales slowed down yet because of this have they been impacted?
38:30
You know, it's it's it's slowed down some.
38:32
I mean for sure.
38:33
I mean, but they have such a useful piece, everyone needs it.
38:36
It's like having a shovel.
38:37
They'll pay for it.
38:37
Yeah, they have to pay for it because they have to have it to do business.
38:40
But um, which means they raise their prices on construction, which maybe goes back to your, you know, your your home builder, which you know, they're moving dirt, they're doing anything, you know, in uh foundation work or anything.
38:51
That that price is higher.
38:54
So, what do you think about China's playbook?
39:01
I mean, they're smart.
39:03
How much money have they spent on?
39:04
I think a hundred years out, you know.
39:05
Dude, they do.
39:07
They haven't had a war in since 1850.
39:10
Um, at least not one that they actually spent money on bullets and military equipment that it's a financial war.
39:18
I I think they're playing a very brilliant long game right now.
39:22
Yeah.
39:23
But I also think I want to uh wax existential for a moment.
39:29
Um freedom beats not freedom every time.
39:33
And China's still a communist country.
39:36
And I think there are um I think there are opportunities that American freedom can present to the Chinese to allow for an understanding of what's possible versus what's not possible for them right now.
39:50
So they're they're winning in a lot of ways.
39:53
Um, both from a um kind of a global competitive standpoint and from a
40:00
Um, you know, quantum computing standpoint and from a um you know uh AI standpoint.
40:07
I mean, they are aggressively competing with the U.S.
40:10
And I think that's uh that's a challenge that we need to face, but I also think we can beat them when we talk about principles and freedom and opportunity that they don't have.
40:20
And I think the more it's how we beat communism, right?
40:22
There was times in the 70s, 60s in Khrushchev where we were very concerned that we couldn't beat the communist.
40:28
And it took Reagan, it took optimism, it took um, you know, uh a feeling of American can do ingenuity and spirit to do it.
40:38
Um, and I think that's something we need to kind of tap into again.
40:41
And I don't think we have in a good way.
40:42
I think Trump's actually probably one of the best cheerleaders that our country has seen in a long time as like a pro-American cheerleader.
40:49
I think if we got rid of the distractions a little bit and just focused on what Americans can do when they put their mind to something, I think we could do it.
40:55
But um we have to have that you know, um unifying moment.
41:00
You know, we're just not there right now.
41:01
We're too we're too divided.
41:02
I think the best thing that China's doing is using social media to divide us.
41:07
Yeah, and um, I think that's actually one of their their best strategic advantages to us right now, is just using pure um numbers-based algorithmic um manipulation that's you know, making our youth go against each other, we're you know, kind of addicted to our phones and social media, and that's more just what would you say?
41:27
I was reading a text.
41:29
That's more detrimental than anything China's doing from a policy standpoint.
41:32
I think if we were actually focused and determined and had leadership that said this is our project and our goal, let's go do it.
41:39
Let's go beat China, I think we would.
41:41
But it's a matter of having that that understanding and that actual clarity of vision to say this is what we are what we're up against, what we need to do.
41:48
Yeah, I agree with that.
41:49
I agree with that.
41:50
What do you think, China?
41:52
China trade here.
41:53
I mean, I think to go back to the social media part.
41:56
I mean, it's I I see it every day.
41:59
You know, working in this world of marketing and messaging and communication, you know, half of what's out there is you know, Chinese bot.
42:10
That's just yeah, igniting fires all over the internet all day, 24 hours a day.
42:16
Um it's just a biting, and actually that, you know, I'll give give them props.
42:21
That is causing a lot of rift here, it's causing division, it's causing all kinds of uh we can't come together.
42:27
No.
42:27
Um because we're believing something that's really not there.
42:30
We're believing stuff that's not true.
42:31
That's right.
42:32
Yeah.
42:32
It may not be a civil war, but it sure feels like one, right?
42:35
Yeah.
42:36
Well, in DC.
42:38
Yeah, yeah, yeah.
42:39
It feels like you're wearing a blue hat or a red hat, and you know, we need a red, white, and blue hat right now.
42:44
Like we have a real big problem against China, and we're not addressing it very effectively right now.
42:49
It's not partisan politics.
42:50
No, I know.
42:51
I know.
42:52
So, okay, so if we start to look at the at the I call it the China trade, which is really um the trade of how we can figure China within our our well, trying to figure out how we make money with China, because right now they're making money off us.
43:10
I mean, we're not making money from China, we're not at all making money from China.
43:13
People go, oh, we've manufactured all these goods, we kept prices low.
43:17
But if you look at the prosperity that they've had the last 35, 40 years, it's on our nickel.
43:22
It's on our dimes, our quarters, our half dollars, our silver dollars.
43:25
It is on our back.
43:26
It's like somebody once said China in 1971 was this not even a trillion dollar economy.
43:32
It's like a 500 billion, 300 billion.
43:34
I think it was 250 billion dollar economy.
43:36
So you think of 250 billion dollars.
43:37
I think we spend that much money a month in interest or something on the debt.
43:40
Okay.
43:41
And now they're a 20 trillion dollar economy.
43:45
It's not 10fold, it's 20fold.
43:48
It's 30fold.
43:49
It's 40fold.
43:50
And what's interesting is the perspective of what have we done since then.
43:54
Not even close to that.
43:56
And they've got some debt, but their debt has been from infrastructure success.
44:00
Yeah.
44:01
Putting the money back into their own cities and roads and bridges and schools and building manufacturing that now has stripped us of our brands.
44:09
Remember the point we made I made today with you, Chris, earlier before the show.
44:13
China copies everything.
44:15
Yeah.
44:15
Then they took it and they made it their own.
44:17
That's right.
44:18
Okay.
44:19
When Tesla went over there, yeah, they make it better.
44:21
When the well, I'll take two steps here.
44:23
First step was to talk about the Ford CEO, brilliant guy, goes over there earlier this year on behalf of the administration to check out China's products, goes to the car to car business, BYD, and a few other car manufacturers, comes back to Trump or people within the administration, and they say, Well, how was it?
44:40
Did you enjoy it?
44:41
Was it beautiful?
44:42
Was it great?
44:42
How was the food?
44:43
He goes, Okay, well, they build a car that's twice as good for half the price.
44:48
We're we're in trouble.
44:49
That's what he said.
44:50
We're in trouble.
44:52
Well, if you hand them the recipe, these guys, these little people, you know, whatever, you know, we recall the factory workers, the engineers, the business people of China.
45:03
These people are gonna reverse engineer this stuff, and they can make it better because here's why.
45:09
They have unlimited resources with government help.
45:11
Government subsidizes everything.
45:14
And two, they have the quarter of the labor cost.
45:17
Yeah.
45:17
It's a quarter of the labor cost.
45:19
So if you want to make a temptation, if we owe in the United States, we manufacture something for a dollar, they're gonna manufacture it for 20 to 25 cents and actually sell it for that.
45:30
Well, when you're talking about the Ford CEO, uh, you know, I'm I'm I'm thinking of um I'm thinking of uh, you know, unions, right?
45:39
I've been to the Dearborn Ford Auto facility, and you know, there's all these union posters and all those things, and I mean it just artificially increases the cost of producing anything there.
45:48
Um now amplify that by um, you know, uh a thousand X with the population and kind of the automation that's happening in China.
45:57
Yeah, I that's exactly why they're creating a better and cheaper.
46:00
Um, you know, where's that balance here?
46:03
Like, you know, taking care of jobs, you know, which the president is right to worry about and make sure that we have people that have purpose and meaning and have jobs at the same time being competitive in a global marketplace where where China is not ascendant, but you know, hopefully descendant and us ascended again.
46:20
And so um that's gonna be a real interesting balance for us over the long haul as we create things and you introduce AI into this process too.
46:29
It's you know, we've got a real labor issue that's coming up over the next five years that we've got to really figure out, both from a cost standpoint and an automation standpoint and a technology technological standpoint that we've gotta we've got to figure out how to get some policy around.
46:42
Yeah, no, I agree 100%.
46:43
I agree we've got to do policy in order to be able to do fiscal policy, policy on trade, policy on understanding of the cost structures of what we're gonna implement.
46:54
There was no thought process on these tariffs.
46:56
No.
46:57
And China loved it.
46:58
The BRICS, they're laughing all the way.
47:00
And here's something else I was reading, which I have known this for some months just by looking at it from uh even from an outsider perspective.
47:06
Russia doesn't want to end the war yet.
47:09
No.
47:09
Yeah.
47:09
They do not want to end this war yet.
47:12
They do not want to end this war.
47:14
They're depleting the resources of us and Europe.
47:18
They're depleting our resources, they're creating the inflationary.
47:21
They're also using all of our military strengths by depleting our military resources specifically.
47:28
Yeah.
47:28
And three, it's a detraction.
47:30
Well, China goes and spends billions of dollars in the Caribbean, South America, Africa, Southeast Asia, Latin America, and infrastructure deals, partnerships, long-term, they call them cooperation agreements.
47:41
We're over here worrying about Ukraine.
47:43
And every day Ukraine is getting a little bit less of Ukraine and a little more of Russia.
47:48
And you know North Korea, you know China is supplementing their military exercises with armament and military uh budgets that Russia could never have afforded.
47:59
And commodity prices are high, and they're in Russia's selling a lot of stuff.
48:03
I mean, India is helping China or helping Russia by buying oil, then flipping it over to us or flipping.
48:10
These guys are smart.
48:11
It's well, and look at what is the warfare happening over there from a cost standpoint.
48:16
We're using rockets and 20th century technology that's 30x the cost of the drone technology that is starting to be implemented over there.
48:26
And so we're seeing um an interesting kind of divergence on warfare costs that we are still playing kind of an older game.
48:35
And I, you know, look, we're spending a ton of money at the Pentagon.
48:39
I'm convinced that we are doing a lot of advanced technology too.
48:41
I just, if we're not, shame on us, and I'm sure we are.
48:44
But what we're seeing in the actual theater is um older technology versus newer technology and seeing how that's playing out.
48:52
And I think Russia's is taking notes, China's taking notes.
48:54
Obviously, we're taking notes too, and figuring out how all that stuff is is playing out.
48:59
Um, you know, again, yeah, uh what you're saying is is is scary in the sense of um, yeah, China's investing in a lot of places and playing the long game, and we're playing along with it.
49:10
And you know, the again the the strategy around that is is uh is lacking, it sounds like so.
49:15
I understand the president's view on trying to get us out of the Ukraine situation um quickly, in part because we we've got things to worry about here.
49:23
Um they're playing the long game.
49:26
Yeah, see, that's the problem with Americans, we're drive-through.
49:29
We're microwave, we're not the crock pot.
49:31
Right.
49:31
You know, you can't put a roast in a microwave and get the same net result of the of the quality of of the of the meal.
49:40
China is playing the long game, and they're they're gonna win this.
49:44
They're gonna win the table.
49:45
Remember the John White the high table?
49:47
Yeah, they're at the high table and they're feasting off our complacency.
49:52
That's what it's been for 50 years, complacency.
49:55
So the last thirty, thirty five years since the WTO put up brought them in and they've cheated every time.
50:00
You know, they they've done unbelievable amount of predatory selling through artificially selling it below cost, oversupply, hurting our manufacturing and heavy industry too, especially steel, aluminum, glass, um, especially commercial aviation manufacturing.
50:15
I mean, host of things, cars, cars, parts, and go on and on and on.
50:18
And they've done predatory selling, they've done predatory lending by lending money to all these third world countries by securing minerals that we would desperately need.
50:26
And we did do a Tennessee deal.
50:28
Did you see it got challenged today in court?
50:30
I did not see it.
50:30
Yes, it did.
50:31
It got challenged in court today.
50:33
Wow.
50:34
I'm sure the Chinese had a hand in that retainer.
50:37
I saw it.
50:38
One point about you know vehicles, right?
50:40
Yeah.
50:40
So, you know, the mega site outside of Memphis.
50:43
Yeah, it's gonna be all electric.
50:45
Right.
50:45
Ford lighting.
50:46
Maybe two days ago.
50:48
Yep.
50:48
Gonna be gas power.
50:49
So they can't compete.
50:50
They can't make it.
50:51
They cannot compete against the Chinese EVs.
50:54
Right.
50:54
So that's to me, that's a big black eye.
50:58
I'm okay with that though, because ultimately I, you know, you and I have talked about this multiple times.
51:04
Um, you know, I I am less bullish on electric vehicles overall because I actually think freedom and opportunity in terms of driving is better than you know, big brother in my car, whether or not it's Elon who I love, I love Teslas and looking what they're doing, but I also like the ability of not having a camera in my car telling me whether or not I should have my hands on the why not because I like freedom.
51:24
I don't like control.
51:25
If you're doing nothing wrong, it's okay, Chris.
51:27
Well, I think there was a whole uh Will Smith movie about that.
51:31
So uh, you know, I think we're uh there's a whole um the gig economy has advantages, but it has a lot of disadvantages.
51:41
And you know, again, Ben Franklin, you know, don't sacrifice freedom for uh you know for opportunity or not, I'm butchering that question.
51:48
I know you're butchering for don't sacrifice freedom for efficiency, safety, convenience, yeah.
51:54
I can even give it up for you know you're never getting it back.
51:57
You don't get it back.
51:58
You never get it back.
51:58
So yeah, that I've I'm and that goes to what we were talking about earlier about stable coins and other things.
52:04
I mean, you know, having freedom and autonomy is infinitely more important and worth fighting for over uh convenience and digital assets.
52:11
And you know, the number the the three top buzzwords, and the number one is is efficiency and this whole stupid stable coin thing.
52:18
It's just stupid.
52:19
It's stupid for us to go along with something that would lead to communistic monetary policy.
52:25
In order for things of which to be fulfilled, you have to go full digital.
52:30
You have to be fully digital in the whole world.
52:33
We are now the last holdout.
52:34
We were holding up the longest time because China was been doing this for years on the digital you want.
52:40
They have in Europe, obviously it starts embracing in Europe.
52:45
You won't even be able to hold private crypto over 10,000 euros come January of 27, and by July of 27, they're gonna negate cash altogether.
52:53
I like the term become ungovernable.
52:55
Yeah.
52:56
Um cash and uh precious metals metals.
53:03
You have the power, yes, not the politicians.
53:05
That's right.
53:06
That's right.
53:06
And yes, the Federal Reserve is printing too much, and yes, you know, they're and they're gonna we're gonna see 20% inflation based on the bond issue that they're working on right now.
53:14
But you know, again, it's about freedom versus control.
53:18
Yep.
53:18
And I am a uh freedom absolutist, and in that instance, again, I just you know embrace the idea of become ungovernable.
53:27
If the if the federal government or anyone is suggesting digital currency, digital IDs, and forcing it's it's it's COVID all over again.
53:34
I know.
53:34
We're like if you hated COVID, look at what's going to happen in a digital infrastructure where they're going to make you do things to get to a football game or to go to a store.
53:44
Yeah, that's not what we want.
53:45
We want choice and freedom, and that is the opposite of that.
53:48
Wait, wait, why would you want choice and freedom?
53:51
Because I'm an American, daggone it.
53:55
I don't know.
53:56
I don't know.
53:57
All right.
53:58
We got we gotta we gotta end it here.
54:00
My my 53 minutes is now up.
54:03
I'm really I I gotta cut off at 52 minutes.
54:05
We'll be on major network here today and tomorrow.
54:07
So thank you guys.
54:09
Thank you.
54:10
I think we solved the world's problems.
54:11
Yeah, hopefully.
54:13
Let's get a shot of Jeremy here.
54:15
Get a shot of Jeremy here.
54:17
Look at this guy.
54:18
And then this is Chris, the famous actor, Christopher Walking.
54:21
I loved you in Bond 84 movies.
54:23
Oh, yeah, so good.
54:25
All right, well, listen, we'll be back with another show tomorrow.
54:28
Thanks for joining me, gentlemen.
54:29
Thank you.
54:29
All right, thank you, everybody, for joining us.
54:31
We're on the record finally.
54:33
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54:37
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54:38
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54:45
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Follow on X at BMC underscore H A M for all news and the latest developments.
54:58
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55:07
That's a 124% gain, outperforming the market, and proving why gold is the ultimate long-term hedge.
55:14
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55:29
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55:31
So I I gotta tell you, I'm gonna I'm gonna end it at this, Chris.
55:34
And that is I'm disappointed the way people think so short term.
55:39
Biblically, you're supposed to think long term, and people expect immediate results.
55:44
People that are impatient are not understanding patience is a virtue.
55:49
And now they're looking for instant gratification.
55:51
They've elected these communist leaders, and now they expect all of these leaders to instantly give them some measure of their success, whether it's free health care, free cars, free transportation, free money.
56:05
They all expect this now today, and they're gonna want it today, and they're gonna keep voting it and voting it until they get that day.
56:12
And unfortunately, I think that day has now started again.
56:16
Short-term thinking is detrimental to well-being.
56:20
It's a detrimental to wealth creation.
56:23
And people that buy something on a Monday expecting to sell it on a Friday to be able to ever think that that is a real world opportunity.
56:30
It's gotta be look down the road three to five years, look down the road 10 years.
56:35
And if you do that, you can see everything coming.
56:37
It's all clear.
56:38
This is Christian Briggs on the record with Christopher Walker.
56:42
Thank you, sir, for joining us.
56:43
Thank you for having me.
56:44
As always, let's keep it going.
56:46
All right, yeah, we'll thank you so much.
56:48
Yep.
56:48
All right.
56:48
Yep.
56:49
Bye bye.