Latest / The 47 Morning Update with Ben Ferguson / Global Markets Cheer Trump-Iran Breakthrough as Vance goes after Critics of New Deal

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Global Markets Cheer Trump-Iran Breakthrough as Vance goes after Critics of New Deal · The 47 Morning Update with Ben Ferguson

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  Speaker 1: We have the greatest military anywhere in the world, and
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  Speaker 1: you saw that in Iran, where in one week virtually
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  Speaker 1: we knocked out their entire navy, their entire air force,
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  Speaker 1: their anti missile weapons, their radar. And now we have
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  Speaker 1: an agreement that was signed last night and it's sixty days.
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  Speaker 1: I have to make a deal otherwise we will do
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  Speaker 1: things that won't make them happy. But I don't think
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  Speaker 1: it's going to get to that. I think it's going
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  Speaker 1: to be very good.
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  Speaker 2: You're listening to the forty seven Morning Update with Ben Ferguson.
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  Speaker 3: Good Saturday morning to you. Ben Ferguson with you, and
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  Speaker 3: these are some of the stories that you may have
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  Speaker 3: missed that we talked about this week on the forty
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  Speaker 3: seven Morning Update. First up, the stock market, Well, they
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  Speaker 3: reacted in a big way, meaning more money in your
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  Speaker 3: pocket and what it could actually mean for prices at
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  Speaker 3: the pump moving forward. Plus jd Vance comes out explaining
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  Speaker 3: why the Trump Iran deal is a major victory for
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  Speaker 3: all Americans. It's the forty seventh Morning Update and it
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  Speaker 3: starts arts right now.
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  Speaker 2: Story number one, what a difference.
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  Speaker 3: A diplomatic breakthrough can make. And today the financial markets
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  Speaker 3: are sending a loud and clear message. After President Trump
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  Speaker 3: announced the deal with Iran aimed at ending the conflict
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  Speaker 3: and reopening the sort of hor moves and restoring stability
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  Speaker 3: to one of the most important energy corridors in the world,
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  Speaker 3: investors took politics out of it, and they reacted immediately.
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  Speaker 3: Wall Street surged on the news, the Nasdaq exploded higher
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  Speaker 3: by more than three percent, and the SMP climbed one
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  Speaker 3: point seven percent, and the Dow Jones Industrial averaged jump
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  Speaker 3: nearly four hundred and seventy points as investors celebrated the
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  Speaker 3: prospect of lower energy costs and reduce geopolitical risk as
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  Speaker 3: well as a more stable global economy. And perhaps the
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  Speaker 3: biggest story for everyday Americans happens in the oil markets.
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  Speaker 3: Oil prices collapsed. Now why does that matter? Because oil
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  Speaker 3: is the lifeblood of the global economy. When all prices rise,
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  Speaker 3: everything gets more expensive. The cost to fill up your car,
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  Speaker 3: the price of groceries, shopping costs, airline tickets. And President
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  Speaker 3: Trump knows that. And for months the markets had been
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  Speaker 3: pricing in fear. What would happen if the conflict in
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  Speaker 3: the Middle East continued and if the stratiform moves remained
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  Speaker 3: disrupted or closed roughly one fifth. As you know, the
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  Speaker 3: world's oil supply moves through that narrow waterway, and the
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  Speaker 3: fear of shortages drove the price is much higher. But
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  Speaker 3: when present Trump announced the deal had been reached to
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  Speaker 3: reopen the straight and restore energy flows, the traders immediately
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  Speaker 3: while they repriced the risk. As you know, crude oil
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  Speaker 3: has now fallen nearly five percent. US crew to oil
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  Speaker 3: has actually dropped more than five percent overall, it's fallen
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  Speaker 3: to the lowest levels in months. At one point, West
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  Speaker 3: Texas intermediate crued actually drop below eighty dollars a barrel
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  Speaker 3: for the first time since March as well, and that
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  Speaker 3: says on a number on a trading screen, that's a
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  Speaker 3: potential tax cut literally for American families. Lower oil prices
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  Speaker 3: can eventually translate into lower prices at the gas pump.
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  Speaker 3: Analysts say it could take one to two weeks before
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  Speaker 3: consumers starts seeing meaningful relief as cheap recruit works its
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  Speaker 3: way through the supply chain. But if you think about
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  Speaker 3: the ripple effect, here's what matters the most. A family
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  Speaker 3: filling up two vehicles every week spends less on gas.
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  Speaker 3: A trucking company spends less moving goods across America, airlines
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  Speaker 3: spend a lot less on fuel, and businesses then have
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  Speaker 3: lower transportation costs. And when people spend less, well, they
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  Speaker 3: have less pressure to raise prices on consumers. And that's
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  Speaker 3: why investors were so enthusiastic about everything that's happened the
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  Speaker 3: last twenty four hours. This wasn't just about any a
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  Speaker 3: conflict thousands of miles away. This was about reducing one
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  Speaker 3: of the biggest inflation threats facing the world economy. Even
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  Speaker 3: European markets reacted with enthusiasm, with major indexes hitting record
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  Speaker 3: highs as the proposed prospect of the US are Indian
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  Speaker 3: agreement not only lowered energy costs but boosted confidence all
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  Speaker 3: over the world. Now, Democrats are still trying to score
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  Speaker 3: political points, but let's be clear, what we're witnessing right
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  Speaker 3: now is the economy looking at what the world's going
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  Speaker 3: to look like when the deal is done. Now, the
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  Speaker 3: markets clearly they're beyond excited about this, and the judgment
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  Speaker 3: is simple. The possibility of peace is good for prosperity.
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  Speaker 3: Lower risk means lower oil prices. Lower oil prices mean
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  Speaker 3: lower inflation pressure, and lower infraation pressure is exactly what
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  Speaker 3: American consumers have been demanding after years of battling higher prices.
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  Speaker 3: It's really why Donald Trump was elected. Well, the stock
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  Speaker 3: market they're celebrating today is liberals are crying the old
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  Speaker 3: market is falling, and that means good things for everyone.
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  Speaker 3: So regardless of what the Democrats say, what we're witnessing
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  Speaker 3: right now is this the markets are betting that this
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  Speaker 3: deal could mean cheaper energy, stronger consumer confidence, and a
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  Speaker 3: major economic win for every American. In fact, that's exactly
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  Speaker 3: what the world markets are saying as well. So yes,
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  Speaker 3: Democrats are going to try to score points and tell
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  Speaker 3: you the deal is bad, but Wall Street and the
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  Speaker 3: economic markets they're reading the fine print, and what they're
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  Speaker 3: celebrating is a deal that gets Americans and the rest
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  Speaker 3: of the world moving in the right direction. Next story
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  Speaker 3: number two, Well, it is officially a war of words.
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  Speaker 3: The Democratic Party coming all out saying that the deal
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  Speaker 3: that Donald Trump has agreed to with Iran, well is
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  Speaker 3: a terrible deal. It is a horrible deal, and you
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  Speaker 3: should be disciplined in Donald Trump. Well, today, Vice President JD.
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  Speaker 3: Vance he went on offense defending the President's historic agreement
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  Speaker 3: with Iran and He laid out exactly why the administration
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  Speaker 3: believes this deal is a massive win for every American
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  Speaker 3: as well as for stability not only in the Middle East,
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  Speaker 3: but also for the global economy. Now, Vance made it
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  Speaker 3: clear from the beginning, this is not a giveaway to
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  Speaker 3: Iran that has been the talking points of Democrats. He
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  Speaker 3: went on Sean Handy's show on Fox News Channel and
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  Speaker 3: he was asked about the Barack Obama deal in Barack
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  Speaker 3: Obama criticizing this new deal that Donald Trump has come
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  Speaker 3: up with, and I want you to hear what Van
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  Speaker 3: Siden response.
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  Speaker 4: I'm gonna took a shot and said, I don't think
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  Speaker 4: this deal is any better than the deal we had before.
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  Speaker 4: The jcpoway was dramatically different than what you were describing
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  Speaker 4: here tonight.
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  Speaker 5: And I'd ask the president, the former president, I'd say, Obama,
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  Speaker 5: why in the world, if it's the same thing, why
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  Speaker 5: is it that the golf Arabs hated your deal and
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  Speaker 5: they love our deal.
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  Speaker 6: They are the ones who are in the region.
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  Speaker 5: They know what it means to enrich the worst terrorist
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  Speaker 5: regime in the world, and they also know what it
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  Speaker 5: means to turn over a new leaf and to go
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  Speaker 5: to a different future. So I think President Obama he
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  Speaker 5: should acknowledge that the people who are closest to this,
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  Speaker 5: they love the Trump deal, they hate the Obama deal,
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  Speaker 5: and that's maybe the biggest endorsement of this plan.
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  Speaker 6: Now.
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  Speaker 3: In the interviews that Jeddie Vance did clearly trying to
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  Speaker 3: push back on the lies of the left in the media.
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  Speaker 3: One of the things that Vance made very clear is
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  Speaker 3: he pushed back aggressively against the claims that the United
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  Speaker 3: States is handing Iran literally billions of dollars just for
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  Speaker 3: signing the agreement. Jd Vance said that is not what
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  Speaker 3: is happening here at all. And here's more of why.
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  Speaker 3: He says, the facts actually matter.
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  Speaker 4: To the people like me that have been very skeptical
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  Speaker 4: of the regime. Sure, for all these years, number one
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  Speaker 4: state sponsor terror, death to Israel, death to America. I'm
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  Speaker 4: skeptical if this is all true. Reagan talked about this
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  Speaker 4: in eighty five. He said there might be an opportunity
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  Speaker 4: for peace in that region, and it might be all
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  Speaker 4: of these countries finally getting along.
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  Speaker 6: And you even.
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  Speaker 4: Expressed hope that that might be a result of this.
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  Speaker 5: Well, again, I'll tell you the Gulf Coast countries under
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  Speaker 5: the President's leadership.
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  Speaker 6: They actually feel that that's possible.
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  Speaker 5: They don't believe anything either, They're not certain. They're not
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  Speaker 5: gonna predict what the Iranians are going to do five
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  Speaker 5: years from now, but they see real opportunity. So we're
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  Speaker 5: gonna walk down this pathway. We're gonna see how serious
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  Speaker 5: the Iranians are, and Shawn us, what if they don't
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  Speaker 5: meet these obligations, What if they don't do what they
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  Speaker 5: promise they're gonna do. Number One, they don't get any
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  Speaker 5: benefits of the bargain, And.
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  Speaker 6: As the President would say, we have all the cards.
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  Speaker 5: Their economy will still be in very tough shape if
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  Speaker 5: they don't get the relief that they need to get
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  Speaker 5: in order to make progress. We're still going to have
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  Speaker 5: incredible military might, We're still going to have diplomatic.
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  Speaker 6: Leverage over them.
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  Speaker 5: We have the cards, and if they don't out of
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  Speaker 5: the commitment, we'll figure out what to do when we
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  Speaker 5: get there.
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  Speaker 3: Now, that was one of the biggest points Advance wanted
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  Speaker 3: Americans to understand, and his words and as the White
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  Speaker 3: House put it out so clearly later in the day,
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  Speaker 3: Iran does not get rewards up front. Iran must earn
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  Speaker 3: any economic relief by actually changing their behavior. Now, according
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  Speaker 3: to Vance, the sanctioned relief and any broader economic opening,
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  Speaker 3: they're tied directly to Iran making long term commitments to
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  Speaker 3: abandon any path to a nuclear weapon and also allowing
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  Speaker 3: international verification to confirm their compliance at all times.
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  Speaker 4: We are not giving them an American dollar. Number one true?
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  Speaker 4: And number two, did the US ever sign off on
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  Speaker 4: the Qatari's paying that money?
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  Speaker 6: No, we've not.
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  Speaker 5: The agreement says they are not getting a single dime
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  Speaker 5: of American money.
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  Speaker 6: That's just not what this is.
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  Speaker 5: What the agreement does say, Sean is again, if the
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  Speaker 5: Iranians behave, and if there are sanctions relief, and if
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  Speaker 5: the Iranians are integrated into the world economy, we would
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  Speaker 5: invite other countries, not US, but other countries to invest
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  Speaker 5: in their country. That's fine, but only if they comply
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  Speaker 5: with the terms of the agreement.
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  Speaker 6: Really, we have an option here, right.
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  Speaker 5: The President of the United States has given us optionality,
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  Speaker 5: which is great for the American people.
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  Speaker 6: Step back for a second.
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  Speaker 5: Their conventional military is destroyed, their nuclear weapons program is destroyed.
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  Speaker 5: The strait of horror moves is now open.
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  Speaker 6: Now we have two.
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  Speaker 5: Pathways that are good to tell free. It is open,
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  Speaker 5: toll free, and that's very explicit in the agreement. But
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  Speaker 5: now we have two pathways we can go down. Pathway
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  Speaker 5: number one is the Iranian economy continues to be strangled.
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  Speaker 5: We don't want that, that's not our desire. But in
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  Speaker 5: order for them to get pathway too, which is reintegration
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  Speaker 5: into the world economy, they have to behave like a
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  Speaker 5: normal country.
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  Speaker 6: It's a very simple principle actually.
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  Speaker 5: And what's different about this than previous iterations of the
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  Speaker 5: Iranian government previous negotiations is one, the President's negotiating from
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  Speaker 5: a position of strength.
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  Speaker 6: But number two, we're actually talking directly to them.
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  Speaker 5: I tell you sean of five years down the road,
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  Speaker 5: they're going to honor that commitment. Because I can't predict
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  Speaker 5: the future, what I can tell you is if they
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  Speaker 5: don't honto their commitments, they don't get a dime from
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  Speaker 5: anybody the United States ever, but a dime from anybody
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  Speaker 5: else either.
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  Speaker 3: Vans went on to explain that the agreement ensures that
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  Speaker 3: Iran will never have a nuclear weapon, while simultaneously, as
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  Speaker 3: he mentioned, opening the straight of Worm moves and the
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  Speaker 3: second point is incredibly important. The straight up Hoor Moves
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  Speaker 3: is one of the most critical shipping lanes on Earth.
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  Speaker 3: We've talked about that on this show multiple times, and
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  Speaker 3: a huge percentage of the world's all supply, more than
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  Speaker 3: twenty percent, moves through that narrow passage. Now, when Iran
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  Speaker 3: threatened the waterway and the conflict, that escalated the energy markets,
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  Speaker 3: as you know, panicked. Oil prices climbed because traders fear
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  Speaker 3: the disruption of the global supply chain. Well, now with
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  Speaker 3: the agreement expected to reopen the straight of Hoom Moves
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  Speaker 3: without tolls or interference, Van says, the Americans now can
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  Speaker 3: have security and that is really important. Freedom of navigation
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  Speaker 3: for ships around the world and the stability for the
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  Speaker 3: global energy markets that helps Americans as well. Now, jd
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  Speaker 3: Vance also made it clear it was time to blast
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  Speaker 3: the media for literally selling the IRGC. That's the Islamic
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  Speaker 3: Revolutionary Guards talking points. Again, the media is selling this,
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  Speaker 3: Democrats selling this for twenty four hours and he already
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  Speaker 3: said this. The markets are reacting. They know what the
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  Speaker 3: deal says and they're not buying into what the media
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  Speaker 3: is selling you, which is the IRGC's talking points.
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  Speaker 6: And here's the thing. Yes, you're right.
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  Speaker 5: Sometimes when you information about this deal will leak out,
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  Speaker 5: you'll have somebody on a propaganda channel in that country,
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  Speaker 5: in Iran who will say something that isn't true.
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  Speaker 6: I think it's it's sort of expected.
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  Speaker 5: It frustrates me too, but it's expected that Yahoo is
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  Speaker 5: going to say something about the deal that is untrue.
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  Speaker 5: What really bothers me and frustrates me and is unexpected
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  Speaker 5: when the American media literally picks up talking points in
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  Speaker 5: propaganda from the RGC that has no support in the
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  Speaker 5: text of the agreement that we've actually negotiated and no
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  Speaker 5: basis in reality.
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  Speaker 6: This is good for the American people.
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  Speaker 5: The Iranians don't get a dime unless they behave and
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  Speaker 5: change their behavior, and this means that Iran will never
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  Speaker 5: have a nuclear weapons.
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  Speaker 6: That's why they did this at a dime.
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  Speaker 4: Did they ever get an American dime a taxpayer dollar?
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  Speaker 6: No, so, number one.
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  Speaker 5: First of all, they never get a dime of American
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  Speaker 5: tax payer money ever, full stop, not even close.
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  Speaker 6: What we have said is there's a lot.
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  Speaker 5: Of economic benefit in the United States relieving a lot
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  Speaker 5: of sanctions and welcoming them back into the world economy.
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  Speaker 6: There's a lot of benefit.
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  Speaker 5: They're not American money, but there's a lot of economic
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  Speaker 5: prosperity that can flow from that. What the President said
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  Speaker 5: to them is, we want you to be a successful country.
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  Speaker 5: But for you to be a successful country, you've got
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  Speaker 5: to give up on this threat. You've got to give
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  Speaker 5: up the desire to have a nuclear weapon. And if
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  Speaker 5: you do that, the United States is willing to have
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  Speaker 5: a much better relationship.
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  Speaker 6: Now.
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  Speaker 3: You listen to what jd Van says there, and he's
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  Speaker 3: assuring the American people that pallets of cash like went
• 14:11
  Speaker 3: out under the Obama administration, Well that's not going to happen.
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  Speaker 3: And what the Trump administration is saying is that peace
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  Speaker 3: through strength has quickly worked. It's produced a framework that
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  Speaker 3: achieves several major objectives. Number one being that Iran remains
• 14:26
  Speaker 3: blocked from obtaining a nuclear weapon. Number two, the strain
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  Speaker 3: of her moves is reopened, protecting global commerce and lowering
• 14:34
  Speaker 3: pressure on energy prices. Number three, America is not writing
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  Speaker 3: a blank check to Tehran. Any economic benefits are contingent
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  Speaker 3: on Iranian compliance. And number four, the agreement creates pathway
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  Speaker 3: to a more stable Middle East without a prolonged military conflict. Now,
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  Speaker 3: there are still technical negotiations ahead, and the full text
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  Speaker 3: Daman has not yet been seen by the public. But
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  Speaker 3: what Van said is the administration tends to release the
• 15:06
  Speaker 3: text so the American people can read it for themselves.
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  Speaker 3: A lot of this is because of how much the
• 15:12
  Speaker 3: media has been pushing Iranian propaganda, and yet again President
• 15:17
  Speaker 3: Trump showing the transparency is what his administration is all
• 15:21
  Speaker 3: about for the American people.
• 15:23
  Speaker 2: Thank you for listening to the forty seven Morning Update
• 15:26
  Speaker 2: with Ben Ferguson. Please make sure you hit subscribe wherever
• 15:30
  Speaker 2: you're listening to this podcast right now and for more
• 15:33
  Speaker 2: in depth news, also subscribe to the Ben Ferguson podcast
• 15:37
  Speaker 2: and we will see you back here on Monday morning.