Latest / Wayne Allyn Root’s WAR Zone Audio Hours / ROOT REACTION w/ Wayne Allyn Root 04-08-25 Hour 1
Transcript
- 0:10Speaker 1: Warning, The Root, The Root, The Roots on fire. You're
- 0:14Speaker 1: about to experience the most high octane pedal to the
- 0:17Speaker 1: metal controversial show of your life. Please buckle up and
- 0:20Speaker 1: hold on tightly. This station is not responsible for injuries.
- 0:24Speaker 1: This is Wayne Alan Root, America's favorite conservative rock star,
- 0:28Speaker 1: direct from the entertainment capital of the world, Las Vegas.
- 0:32Speaker 1: What time is it?
- 0:33Speaker 2: It's time war war.
- 0:37Speaker 1: Here's your host, one hundred percent raw truth, one hundred
- 0:40Speaker 1: percent American made the Warrior, Wayne Alan Roots.
- 0:57Speaker 3: All right, they tell me I'm live Roots the Root Reactions.
- 1:04Speaker 2: Roots Roots is here and it's a great day. A
- 1:07Speaker 2: lot of good things happening, except for the stock market.
- 1:10Speaker 3: Obviously, there's a lot of enemies of America who trying
- 1:12Speaker 3: to bomb the stock market. Obviously Wall Street, the Deep State, China,
- 1:16Speaker 3: the George Soros is the world again. It's an opinion show,
- 1:20Speaker 3: just my opinion. Those are the enemies of the United
- 1:23Speaker 3: States of America. Barack Obomb has taken orders from those
- 1:26Speaker 3: enemies and they're trying to destroy the stock market to
- 1:28Speaker 3: try and destroy Trump right now before his term barely
- 1:32Speaker 3: has begun. This is their moment to try and destroy him.
- 1:37Speaker 3: But guess what the voters are for the tariffs again
- 1:40Speaker 3: and again and again.
- 1:41Speaker 2: Here's is this the ras use one Yeah.
- 1:44Speaker 3: Latest rass must reports national telephone and online survey finds
- 1:50Speaker 3: that forty five percent of likely US voters say the
- 1:54Speaker 3: government doesn't do enough to protect US manufacturers.
- 1:57Speaker 2: And businesses from foreign competition.
- 2:00Speaker 3: Just seventeen percent think the government protects American business too much.
- 2:05Speaker 3: So people are on the side of the tariffs. And then,
- 2:08Speaker 3: if I can find it real quick, here it is.
- 2:11Speaker 3: CNN's data expert Harry Inton shares the latest poll on
- 2:15Speaker 3: President Trump. He's not a lame duck, he says, he's
- 2:18Speaker 3: a soaring eagle. CNN Senior data reporter Harry Inton delivered
- 2:23Speaker 3: unwelcome news to Democrats who rage against President Trump and
- 2:27Speaker 3: call him a king. According to a recent poll, a
- 2:29Speaker 3: majority of American voters disagree. Harry Enton, I think there's
- 2:35Speaker 3: concern among some folks that Donald Trump would come in
- 2:40Speaker 3: for a second term.
- 2:41Speaker 2: And be a lame duck. That sure wasn't me.
- 2:43Speaker 3: By the way, I told you, I know him, you know,
- 2:45Speaker 3: like the like the back of my hand. Here, nobody
- 2:47Speaker 3: knows Trump better than me. Trump rules in my book,
- 2:50Speaker 3: and I understand everything about this guy, and I identified
- 2:52Speaker 3: all the rules and make them the greatest guy that's
- 2:55Speaker 3: ever walked the face of the earth.
- 2:56Speaker 2: Human. You know, he's not Jesus Christ, but he's a human,
- 2:59Speaker 2: and no U human.
- 3:00Speaker 3: Has ever been as flawless in everything, real estate, branding, business, celebrity,
- 3:06Speaker 3: you name it. How about politics, I mean, how about television,
- 3:12Speaker 3: Apprentice and celebrity Apprentice.
- 3:14Speaker 2: He's been incredible at everything, And so I knew that.
- 3:17Speaker 3: He would not be a lame duck. He'd come in
- 3:19Speaker 3: and be the most active president in history. But Harry
- 3:22Speaker 3: Enten says, what am I talking about here? Let's talk
- 3:24Speaker 3: about Trump's executive orders. He has already signed one hundred
- 3:27Speaker 3: and eleven. That's the most at this point in a
- 3:30Speaker 3: presidency in at least one hundred years. In fact, it's
- 3:34Speaker 3: the most in any in a presidency in the whole
- 3:36Speaker 3: four years. It's the most in a single year ever.
- 3:41Speaker 3: We're only in April. In April, the bottom line is,
- 3:44Speaker 3: whether you like Trump you don't like him, you can't
- 3:46Speaker 3: say he's coming and not try to deliver on what
- 3:50Speaker 3: he at least believes was his promises on the campaign
- 3:53Speaker 3: trail and doing so in historic fashion. So then the
- 3:57Speaker 3: gall On TVs at CNN, how are people acting and
- 4:01Speaker 3: how do they feel about Trump's approach? So Trump's approach here,
- 4:04Speaker 3: Harryeten says, Trump's approach to presidential power. I think the
- 4:09Speaker 3: American people recognize what he's doing here is completely different.
- 4:12Speaker 2: We're talking get this, eighty six percent of the.
- 4:16Speaker 3: American public believes that Trump's approach to presidential power is
- 4:20Speaker 3: completely different from past presidents, compared to only fourteen percent
- 4:24Speaker 3: who believe it's in line. So again, you can agree
- 4:28Speaker 3: or you can disagree with Donald Trump. What you can't
- 4:30Speaker 3: agree with, what you can't disagree with is that he's
- 4:32Speaker 3: doing things very uniquely differently. I've used the Frank Sinatra
- 4:36Speaker 3: quote before, He's doing it my way, and that is
- 4:38Speaker 3: what Donald Trump has done throughout both his presidential terms.
- 4:42Speaker 3: And then the gall On TV for CNN, Karen Boldwin says,
- 4:47Speaker 3: do people think he is doing too much? Has he
- 4:50Speaker 3: taken too much power? Harry Entten says, yeah, I think
- 4:53Speaker 3: this is the real question. Forty seven percent say too much,
- 4:58Speaker 3: but then you get thirty six percent who say the
- 5:00Speaker 3: right amount and seventeen percent who say too little. So
- 5:04Speaker 3: you're essentially dealing with a majority of the American people
- 5:08Speaker 3: fifty three percent, who say that he's either doing the
- 5:11Speaker 3: right amount or not even enough.
- 5:14Speaker 2: He should do more so. The argument that Donald Trump.
- 5:17Speaker 3: Is a king, I don't think holds with the American people.
- 5:21Speaker 3: The executive orders he signed certainly suggests he's no lame duck.
- 5:25Speaker 3: Harrie Enton says he is a soaring eagle. Trump's going
- 5:30Speaker 3: for history and redefining the presidency.
- 5:33Speaker 2: Number one, record number of executive orders.
- 5:35Speaker 3: Number two, eighty six percent say his approach completely different
- 5:39Speaker 3: from others.
- 5:39Speaker 2: And number three, this isn't seen as a power grab.
- 5:42Speaker 2: A majority fifty three percent says.
- 5:44Speaker 3: Power is just right or even too little, that he
- 5:47Speaker 3: should do more so, so far.
- 5:50Speaker 2: So good. They got it all wrong.
- 5:52Speaker 3: And I mentioned yesterday the Daily Mail, who has really
- 5:55Speaker 3: good pollsters. I mean, I've really used the Daily Mail
- 5:59Speaker 3: a lot during the Trump Kamala campaign, and they were
- 6:02Speaker 3: right on everything. And the Daily Mail said that Trump
- 6:06Speaker 3: has gained so much support since the tariffs that it's
- 6:10Speaker 3: shocking seventeen percent points up among black people and dramatically
- 6:15Speaker 3: up above everyone.
- 6:17Speaker 2: More good news.
- 6:17Speaker 3: Supreme Court grants Trump's ability at least temporarily to fire
- 6:22Speaker 3: thousands of federal employees. So that's good, that's good news.
- 6:26Speaker 3: You know, as of yesterday, the Supreme Court sided with
- 6:28Speaker 3: Trump over Venezuelan deportations.
- 6:32Speaker 2: But again that wasn't quite as good as we thought
- 6:34Speaker 2: it was.
- 6:36Speaker 3: Yes, they sided with him, he has a right to
- 6:38Speaker 3: send them to El Salvador. But the Supreme Court required
- 6:42Speaker 3: due process for each and every case. You have to
- 6:45Speaker 3: prove each case individually should be sent to El Salvador.
- 6:51Speaker 2: So it was a good ruling, it was not a great.
- 6:52Speaker 3: Ruling as usual from the Supreme Court, and the other
- 6:55Speaker 3: thing that came out of it, which was shocking. And
- 6:57Speaker 3: I think I said this on the show yesterday. I
- 7:02Speaker 3: can't remember her name now, the Supreme Court lady. I
- 7:05Speaker 3: can't even remember her name. I've gone totally blank. Whatever
- 7:08Speaker 3: her name is.
- 7:08Speaker 2: She's the one appointed by Trump.
- 7:10Speaker 3: She's Catholic, and she's been a disaster, and she voted
- 7:13Speaker 3: against Trump in that ruling. She voted for the Al
- 7:18Speaker 3: Salvadoran you know, gangbangers from Trend de Arragua.
- 7:22Speaker 2: She voted they have a right to stay in the
- 7:24Speaker 2: United States.
- 7:25Speaker 3: Shocking, Amy Barrett, Right, Amy Coney Barrett, There we go.
- 7:29Speaker 2: It came to me it took a second. The files
- 7:30Speaker 2: that opened up in my brain.
- 7:32Speaker 3: Amy Coney Barrett is a disaster and an embarrassment. She
- 7:36Speaker 3: is just either a fraud, or she's blackmailed, or she's
- 7:40Speaker 3: playing for the other team.
- 7:42Speaker 2: Who knows what it is.
- 7:44Speaker 3: She's a fraud in that she was always a liberal
- 7:46Speaker 3: and she played conservative to get nominated to the Supreme
- 7:49Speaker 3: Court and then the real person came out.
- 7:51Speaker 2: Or she's being bribed or blackmail.
- 7:52Speaker 3: I don't know, but you know, it's amazing to me
- 7:55Speaker 3: because I've always said that about Justice Roberts, and he
- 7:57Speaker 3: ruled in favor of Trump on that one.
- 8:00Speaker 2: She ruled against him.
- 8:01Speaker 3: Amy Coney Barrett glad the name finally came to me.
- 8:04Speaker 3: I've got one hundred thousand names in my brain. It's
- 8:07Speaker 3: hard to get them all out quickly. On TV, President
- 8:10Speaker 3: Trump to sign unleashing American energy executive orders during a
- 8:16Speaker 3: ceremony with energy executives. And one of the things he's
- 8:20Speaker 3: unleashing is to revitalize the coal industry. Look, if you
- 8:25Speaker 3: want us to be the richest nation in the world,
- 8:27Speaker 3: if you want good paying, middle class jobs, if you
- 8:31Speaker 3: want middle class people with a high quality of life,
- 8:34Speaker 3: you gotta get the electric bills down, and the natural
- 8:37Speaker 3: gas build down, and the fuel you put in your
- 8:41Speaker 3: car that build down.
- 8:42Speaker 2: You gotta use coal.
- 8:44Speaker 3: You gotta use every facet of dirty fossil flee you
- 8:49Speaker 3: really have to. So Trump is unleashing American energy with
- 8:53Speaker 3: new executive orders, and he's hosting mining company executives in
- 8:59Speaker 3: the East room of the White Houses he signs the order.
- 9:02Speaker 2: Executives from Peabody Energy Company.
- 9:04Speaker 3: Core Natural Resources, and Ramaco Resources are in attendance.
- 9:10Speaker 2: The executive order will unleash the might of our.
- 9:13Speaker 3: Beautiful clean coal industry in this country, which is a
- 9:16Speaker 3: reliable energy source for AI. You know, for all you
- 9:20Speaker 3: people that think, oh, climate change, climate change.
- 9:23Speaker 2: I've argued this for twenty five years.
- 9:25Speaker 3: Since the year twenty twenty five years, I've been arguing
- 9:27Speaker 3: this that if the United States tomorrow ended all dirty
- 9:31Speaker 3: fossil fuel and went just with green energy, we would
- 9:35Speaker 3: be destroyed and China would be the most dominant nation
- 9:37Speaker 3: in the world. But China would keep belching pollution in
- 9:40Speaker 3: the air because they build not clean coal, but coal
- 9:43Speaker 3: plants dirty call all over their country, and they use
- 9:47Speaker 3: every form of dirty fossil fuel, and they would keep
- 9:51Speaker 3: pumping it in the air, and the world would be
- 9:53Speaker 3: exactly the same, and we'd all sacrifice our lives, our careers,
- 9:57Speaker 3: our children's futures, and we'd all be broke losers like
- 10:00Speaker 3: we'd be living in Cuba, and we'd have constant energy
- 10:03Speaker 3: blackouts and our lives would be misery, and your electric
- 10:05Speaker 3: bills would be three thousand a month for a small apartment,
- 10:09Speaker 3: And we wouldn't do a thing about climate change. We
- 10:11Speaker 3: wouldn't do a thing about polluting the air because.
- 10:14Speaker 2: China and India and.
- 10:16Speaker 3: All the other bricks countries polluted every day and nobody
- 10:19Speaker 3: stops them.
- 10:20Speaker 2: But why would we be the only one that does it.
- 10:23Speaker 3: Here's more good news again, everything's good except the stock market.
- 10:26Speaker 2: Stock market was up.
- 10:28Speaker 3: A thousand points when I woke up this morning, and
- 10:30Speaker 3: it ended up down three hundred and twenty points. So
- 10:32Speaker 3: I mean, another day that whipsaws your neck like a
- 10:35Speaker 3: Wimbledon tennis match, and another down day on Wall Street.
- 10:38Speaker 3: But again, the people on Wall Street are deep state
- 10:41Speaker 3: China owned China. You know, they make money off China.
- 10:45Speaker 3: They're not owned by China, so call them China dependent.
- 10:48Speaker 3: They just want to stop Trump from cracking down on
- 10:52Speaker 3: China because they're beholden to China.
- 10:55Speaker 2: But here's another good news.
- 10:56Speaker 3: Trump cracks down illegal aliens will be fined nearly one
- 11:00Speaker 3: thousand dollars a day for refusing to leave and face
- 11:04Speaker 3: property seizures. Legal protection for over nine hundred thousand migrants
- 11:10Speaker 3: is revoked. When we get back, I'll dig into that
- 11:13Speaker 3: heavy duty details.
- 11:15Speaker 2: Details.
- 11:15Speaker 3: Got to dig down into the weeds about what Trump
- 11:18Speaker 3: today did to crack down.
- 11:21Speaker 2: On illegal immigration. On Wayne aler Route.
- 11:23Speaker 3: This is my two hour nationally syndicated radio show on
- 11:27Speaker 3: Talk Media Network as well as because it's simulcast as
- 11:30Speaker 3: well as my two hour video podcast on Rumble.
- 11:33Speaker 2: Type in WAYN Root or Wayne Allen Root.
- 11:35Speaker 3: Go to Rumble it shows right up, or go to
- 11:38Speaker 3: unteamed nation dot com or my ex page or my
- 11:40Speaker 3: geinner page at Real Wayne Root. It is live stream
- 11:43Speaker 3: at the top.
- 11:44Speaker 2: We'll be right back. Don't go anywhere. Stay tuned.
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- 15:06Speaker 3: All right, So, my good buddy here, Petar Lascu, who
- 15:10Speaker 3: has been my director for thirty five years and sits
- 15:12Speaker 3: by my side directing and producing this show every single day,
- 15:16Speaker 3: brought me some mail today because he happen to stop
- 15:18Speaker 3: by my ups store where I get my mail, and
- 15:21Speaker 3: he brings me my mail and there's a letter from
- 15:23Speaker 3: a prison.
- 15:24Speaker 2: I didn't tell you, what was it, Pete. I'm going
- 15:25Speaker 2: to surprise you.
- 15:26Speaker 3: So there's a letter from a prison, certified mail from
- 15:30Speaker 3: an Oklahoma prison, and the first thing I think is,
- 15:33Speaker 3: oh God, it's another inmate that says he loves my
- 15:35Speaker 3: show and he loves me, and he's innocent.
- 15:37Speaker 2: They all claim they're innocent. What do you want me
- 15:39Speaker 2: to do about it?
- 15:40Speaker 3: Come on, seriously, I'm not a lawyer and I'm not
- 15:42Speaker 3: a public official.
- 15:43Speaker 2: I'm not in office. There's nothing I can do about it.
- 15:47Speaker 2: I can't change your prison sentence.
- 15:49Speaker 3: So I open it up and it was actually the
- 15:52Speaker 3: most surprising letter I've ever gotten from a prison.
- 15:54Speaker 2: I get a lot of them, Evidell.
- 15:56Speaker 3: There's a lot of prisoners who watch my show, probably
- 15:58Speaker 3: because they have a lot of time. I'm on their hands,
- 16:00Speaker 3: they have nothing to do, and so they're searching the
- 16:02Speaker 3: internet and they stumble on my show and they like it.
- 16:05Speaker 3: And there's a bunch of conservatives in prison like my show.
- 16:07Speaker 2: What can I tell you? Anyway?
- 16:09Speaker 3: This letter from Oklahoma and Oklahoma prison was signed by
- 16:15Speaker 3: four doctors, all mds in prison who were sent to
- 16:19Speaker 3: prison because they claim that they were trying to help
- 16:24Speaker 3: people get better prescribing drugs, and the government charged them
- 16:28Speaker 3: with over prescribing, and the government comes in with an
- 16:31Speaker 3: expert that lies, they say, and.
- 16:34Speaker 2: The government's expert is paid by the government.
- 16:36Speaker 3: They make their living to lie for the government and
- 16:39Speaker 3: convince the jury or the judge that they gave too
- 16:43Speaker 3: many drugs out and shouldn't have been giving them out.
- 16:47Speaker 2: And they said, it's a totally open.
- 16:49Speaker 3: Ended question how much a doctor's supposed to give out
- 16:52Speaker 3: or not give out. We're not pillbushers, we're not drug dealers.
- 16:56Speaker 3: We were sent to prison and given thirty to forty
- 16:59Speaker 3: years sent is and we're grown men who went to
- 17:02Speaker 3: medical school and we were trying to help people in
- 17:05Speaker 3: our lives have been ruined, destroyed, will be old men
- 17:08Speaker 3: by the time we get out. They're treating us like
- 17:10Speaker 3: we're heroin dealers or fentanyl dealers.
- 17:12Speaker 2: From the Mexican drug cartel. And it's signed by four mds.
- 17:17Speaker 3: Now, if this had been ten years ago and I
- 17:20Speaker 3: had gotten this, I would think it's a bunch of poppycock,
- 17:23Speaker 3: and I would think they're, you know, just another prisoner
- 17:25Speaker 3: who claims they're innocent. Everyone on what says they're innocent.
- 17:28Speaker 3: But this is me now today, after seeing how the
- 17:31Speaker 3: government lied about the January six ers, and how the
- 17:35Speaker 3: government lies about everything and everyone, and how as far
- 17:39Speaker 3: as I'm concerned, it's the biggest lie in America.
- 17:42Speaker 2: Is you're innocent still proven guilty. No, you're guilty until
- 17:45Speaker 2: proven innocent.
- 17:46Speaker 3: And if you can't afford a good lawyer, you're dead
- 17:49Speaker 3: because the government has unlimited money to destroy you and
- 17:52Speaker 3: lie about you.
- 17:53Speaker 2: I never thought i'd say this.
- 17:55Speaker 3: The whole thing is a joke, just like I used
- 17:57Speaker 3: to think America was the only country in the world
- 18:00Speaker 3: that wasn't you know, a tinpot dictator and everything's about
- 18:03Speaker 3: payoffs and bribery. Now I think America is as bribed
- 18:06Speaker 3: and dirty and corrupt as any nation in the world.
- 18:09Speaker 3: So I tend to believe these four doctors that they
- 18:13Speaker 3: were railroaded by the government. I don't know that I
- 18:16Speaker 3: can do anything about it. But if you're watching or
- 18:19Speaker 3: listening the letter, get home with me. I feel bad
- 18:22Speaker 3: for you. I feel like you got railroaded. I can't
- 18:25Speaker 3: believe four doctors in one prison in Oklahoma are all
- 18:31Speaker 3: combining to send this letter to me to ask for help.
- 18:34Speaker 3: I just don't know how I can help, just like
- 18:37Speaker 3: I don't know how I can help with all the
- 18:38Speaker 3: people who send me letters from prison, but I've never
- 18:41Speaker 3: gotten a letter from prison from a doctor an MD,
- 18:44Speaker 3: let alone four mds. Pretty wild, pretty tragic, pretty confusing.
- 18:49Speaker 3: What's happening in our country now? Pretty disappointing. What's happening
- 18:53Speaker 3: in our country right now? Disillusioning?
- 18:56Speaker 2: How about that word?
- 18:56Speaker 3: It's disillusioning that you know someone comes in point to
- 19:00Speaker 3: finger at you for whatever reason, and then the government
- 19:03Speaker 3: hires an expert to say that you're a criminal and
- 19:05Speaker 3: you're a liar and you're a bad person, even though
- 19:08Speaker 3: you have a medical degree that you spent like two
- 19:10Speaker 3: hundred and fifty thousand dollars on, and you got a
- 19:12Speaker 3: wife and kids, and that expert testifies against you. It
- 19:15Speaker 3: convinces the jury that they get you gave the wrong
- 19:18Speaker 3: amount of drugs, when in reality.
- 19:20Speaker 2: Maybe you gave just the right amount, because there's no
- 19:22Speaker 2: set amount.
- 19:23Speaker 3: It's totally up to the doctor and the patient and
- 19:26Speaker 3: the situation. So I believe them when they say that
- 19:30Speaker 3: they were railroaded. I believe them, boy or We need
- 19:33Speaker 3: a lot of trouble, a lot of problems in this country.
- 19:35Speaker 3: I don't even know if Trump can fix them in
- 19:37Speaker 3: four years and I don't know if eight years after that.
- 19:39Speaker 2: If we elect another Republican, we can fix them. And
- 19:42Speaker 2: by the way, I don't hear any music. If music is.
- 19:44Speaker 3: Supposed to be on, I don't know, Daniel, if it's
- 19:45Speaker 3: supposed to be on in my ear, but I hear
- 19:47Speaker 3: absolutely nothing.
- 19:48Speaker 2: Zero. So this is the second.
- 19:51Speaker 3: Term of President Trump. It's all about drill, baby, drill.
- 19:54Speaker 3: You know he just signed that coal Executive Order. He
- 19:58Speaker 3: wants to make America the energy capital of the world.
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- 20:36Speaker 2: We'll be right back. I'm Wayne al Rout. Don't go anywhere.
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- 21:55Speaker 3: Alright, just looking up a gold gold had a good
- 21:58Speaker 3: day today, Well, actually, Gold was up when I looked
- 22:01Speaker 3: earlier today like something like forty dollars.
- 22:03Speaker 2: An OUN's an incredible day.
- 22:06Speaker 3: The market was up a thousand, and crypto was up,
- 22:11Speaker 3: and all of a sudden, the market's down and crypto's
- 22:13Speaker 3: down and gold was only up seven dollars, actually, golden
- 22:16Speaker 3: out of a great day. Gold had a slightly update,
- 22:19Speaker 3: but on the day where everything else was down.
- 22:21Speaker 2: Gold was up. So good day for gold from that standpoint.
- 22:26Speaker 3: And before I get to my guest, I want to
- 22:27Speaker 3: mention up to seventy countries have contacted the White House
- 22:30Speaker 3: since the tariff announcement. Press Secretary Caroline Levitt says countries
- 22:34Speaker 3: are falling over themselves to reform their unfair trade practices.
- 22:39Speaker 2: Again. It's the road Runner and Wiley E. Coyote I
- 22:44Speaker 2: called it yesterday. Everybody thought they had Trump.
- 22:46Speaker 3: Again, and oh my god, and the world's gonna collapse
- 22:49Speaker 3: and the market's gonna collapse, and the economy's gonna collapse,
- 22:52Speaker 3: and Trump's gonna get the blame. It's just not true.
- 22:55Speaker 3: Everything's gonna be great. It's gonna create the greatest economy ever.
- 22:58Speaker 2: Trump knew it.
- 22:59Speaker 3: Trump intuitive, he knew it, and he attacked early in
- 23:02Speaker 3: his presidency, and he took the heat and it's gonna
- 23:04Speaker 3: work out. Advantage Gold is the sponsor of the segment.
- 23:07Speaker 3: That's why I was looking up the price of gold.
- 23:09Speaker 3: Another good day for gold compared to everything else. And
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- 23:14Speaker 3: but to actually hold its value or go up a
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- 23:20Speaker 3: maybe to go down a little will everything else is
- 23:21Speaker 3: going down a lot. It certainly is better than owning
- 23:24Speaker 3: dollars when the dollar does nothing but go down in value.
- 23:28Speaker 3: Central banks around the world buying gold at record levels.
- 23:31Speaker 3: Over one thousand tons of gold they bought last year alone,
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- 23:37Speaker 2: What do they know that you don't.
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- 24:26Speaker 2: All right.
- 24:27Speaker 3: My guest is here, Todd Sheets, author of the newsletter
- 24:30Speaker 3: on Wealth and Progress. It's on sub stack. He's the
- 24:34Speaker 3: author of the book two thousand and eight What Really Happened.
- 24:36Speaker 3: His website is Todd Sheets Writer dot com. Toddsheets Writer
- 24:42Speaker 3: dot com. Todd Welcome to the Waynel Root Show.
- 24:44Speaker 2: How are you.
- 24:46Speaker 5: I'm doing great, Wayne, thanks for having me on.
- 24:49Speaker 2: I'm gonna make it a sumbsh here. I'm gonna take
- 24:51Speaker 2: a stamp.
- 24:52Speaker 3: So, did somebody else have the domain name toddsheets dot
- 24:56Speaker 3: com because you have Todd sheets writer dot com. Was
- 24:59Speaker 3: that name a he taken Todd sheets dot com?
- 25:03Speaker 6: Yeah, I hesitate to say it's actually there's a guy
- 25:05Speaker 6: that does horror films that has taken that don't and
- 25:10Speaker 6: far from what I'm doing as you could possibly imagine.
- 25:14Speaker 5: So yeah, I had to go with something a little different.
- 25:15Speaker 2: There, there you go. I knew it as soon as
- 25:18Speaker 2: I saw it. I said, well, boy, there must be
- 25:19Speaker 2: another Todd Sheets, all right. And it's certainly an unusual,
- 25:23Speaker 2: unique name.
- 25:23Speaker 3: So it's kind of funny there's another guy with the
- 25:25Speaker 3: same name who wants to put it in a website.
- 25:27Speaker 2: Very rare. Trump's tariffs are.
- 25:29Speaker 3: Designed to reorder the global trading system.
- 25:33Speaker 2: I think it's gonna work. I really do.
- 25:35Speaker 3: It's just, of course, it's gonna be a lot of
- 25:36Speaker 3: pain in the transition period. But America has a chance
- 25:40Speaker 3: now to really hum and to really boom, and the
- 25:44Speaker 3: middle class can really get back in the ballgame if
- 25:48Speaker 3: this game is played right by President Trump over the
- 25:51Speaker 3: next year. But there will be some pain, as there
- 25:54Speaker 3: has been on Wall Street. What are your thoughts? Are
- 25:56Speaker 3: you on my team on this one? Are you gonna
- 25:58Speaker 3: debate me on this one?
- 26:00Speaker 5: No, I'm not going to debate you on this.
- 26:03Speaker 6: You know, the piece I put out on Substack today
- 26:06Speaker 6: that you were referring to basically tries.
- 26:09Speaker 5: To address a couple of things.
- 26:11Speaker 6: One is, there's been a great deal of fear mongering
- 26:14Speaker 6: over these tariffs. People have made allusions to the Smooth
- 26:19Speaker 6: Holly tariffs of the nineteen thirties, to Richard Nixon in
- 26:22Speaker 6: the early seventies when we went off the gold standard
- 26:24Speaker 6: and we then went into a huge period of inflation.
- 26:27Speaker 5: But the fact of the matter is, I.
- 26:29Speaker 6: Think those are very inappropriate analogies to what's happening right now.
- 26:34Speaker 6: The problems in the nineteen thirties had almost nothing to
- 26:38Speaker 6: do with Smooth Hally. We now know that for a
- 26:41Speaker 6: long time we were thought that that was a big factor,
- 26:43Speaker 6: that you know, this trade war that took place, was
- 26:46Speaker 6: a big problem in causing the depression, and that type
- 26:49Speaker 6: of thing. What we now know is that the depression,
- 26:53Speaker 6: in fact was an outgrowth of two major things. One
- 26:57Speaker 6: was World War One and the enormous budget deficits that
- 27:01Speaker 6: were incurred by the European belligerent company countries that pushed
- 27:06Speaker 6: them into unsustainable debts and massive inflations that pretty much
- 27:12Speaker 6: shredded their economies during the nineteen twenties. So they went
- 27:16Speaker 6: through a decade of failed policy responses to those problems,
- 27:21Speaker 6: and then the international monetary and financial systems collapsed in
- 27:25Speaker 6: the early nineteen thirties. So that's a key lesson for
- 27:28Speaker 6: us to learn from that period of time, you know,
- 27:31Speaker 6: not an inappropriate reference to what happened with tariffs. The
- 27:34Speaker 6: second key problem was that the Federal Reserve, when things
- 27:38Speaker 6: started to collapse and we started to have banking panics
- 27:41Speaker 6: in the United States, the Fed failed to do the
- 27:43Speaker 6: job it was created for, which was to provide the
- 27:45Speaker 6: liquidity to the system. Well, they've since acknowledged that mistake,
- 27:49Speaker 6: and they've learned from it. So I don't think we're
- 27:51Speaker 6: headed back into anything like that, and I don't think
- 27:53Speaker 6: people should be afraid, you know, that we're headed into
- 27:56Speaker 6: some kind of catastrophic situation, or that the stock market
- 28:00Speaker 6: declines are going to take us there.
- 28:02Speaker 3: Well, War Todd, let me throw a couple more in,
- 28:06Speaker 3: because I've studied the Great Depression, and the minute we
- 28:09Speaker 3: got in a Great depression, a minute it started to
- 28:11Speaker 3: be a recession.
- 28:13Speaker 2: Not yet a Great depression, but a recession.
- 28:16Speaker 3: Hoover raised taxes dramatically, and then when FDR became president,
- 28:21Speaker 3: he raised taxes dramatically and added regulations dramatically. And we
- 28:25Speaker 3: all know, you know, you and I in the business world,
- 28:28Speaker 3: taxes and regulations destroy business and the economy and jobs.
- 28:33Speaker 3: So I would throw in high taxes and high regulations
- 28:38Speaker 3: helped to cause the Great Depression and compound did and
- 28:41Speaker 3: make it worse.
- 28:43Speaker 6: They absolutely did. And in fact, I've gone back and
- 28:47Speaker 6: done the research on this. I'm actually working on a
- 28:49Speaker 6: book on this subject right now. But if you go
- 28:51Speaker 6: back and look at the downturns that preceded the Great Depression,
- 28:55Speaker 6: you know, in the late eighteen hundreds and in the
- 28:58Speaker 6: early nineteen hundreds, know, the characteristic of all of those
- 29:03Speaker 6: was that there was often a somewhat severe downturn, but
- 29:08Speaker 6: there was an enormously rapid recovery that occurred afterward. And
- 29:13Speaker 6: that partly because the federal played a very a small
- 29:17Speaker 6: role and there was very little regulation, and so the
- 29:20Speaker 6: system could adjust to the problem get back on its
- 29:24Speaker 6: feet almost always within twelve to eighteen months, you know,
- 29:29Speaker 6: we were back at the place that we had been
- 29:31Speaker 6: before the downturn started, and back on a rate of
- 29:34Speaker 6: health that we haven't matched since that.
- 29:36Speaker 5: Period of time.
- 29:38Speaker 6: Well, and I think that's a lot you're trying to do,
- 29:40Speaker 6: is move us back towards that type of a model
- 29:42Speaker 6: right now.
- 29:43Speaker 3: Right And the other thing I remember, you know, when
- 29:46Speaker 3: I study the Great Suppression, something I remember sticks out
- 29:48Speaker 3: in my mind is that things got much much better
- 29:53Speaker 3: early in FDR's term, and then they got much much
- 29:57Speaker 3: worse because he was met we actually were out of
- 30:01Speaker 3: the Great Depression, and then he raised regulations and he
- 30:05Speaker 3: raised taxes, and he did all kinds of things unionized
- 30:09Speaker 3: and the next thing you know, our country is getting
- 30:11Speaker 3: deeper and deeper.
- 30:13Speaker 2: Unemployment goes to levels.
- 30:14Speaker 3: That were worse than under Herbert Hoover because he caused
- 30:18Speaker 3: it to get worse. FDR. He's known as this great president.
- 30:22Speaker 3: He wasn't a great president. He was a socialist, and
- 30:24Speaker 3: his socialist policies tug the whole deeper and deeper and
- 30:28Speaker 3: got us from the point where we were.
- 30:30Speaker 2: About to get out and recover to.
- 30:32Speaker 3: Where it went to the absolute depths of the Great Suppression.
- 30:35Speaker 2: Do I have that one right?
- 30:38Speaker 1: Yeah?
- 30:39Speaker 5: I mean essentially yes.
- 30:40Speaker 6: I mean I think it's an underrecognized fact that he
- 30:43Speaker 6: essentially inherited a recovering economy. Industrial growth started to kick
- 30:50Speaker 6: up in the summer before he took office. It was
- 30:53Speaker 6: too late to save Hoover, but I think in a
- 30:57Speaker 6: little too early to be recognized what it was. But
- 31:00Speaker 6: that was the beginning of a recovery the bank failures
- 31:03Speaker 6: bottomed out in the first quarter that of the year
- 31:07Speaker 6: that FDR took office, and so there was an emerging
- 31:12Speaker 6: recovery that was inherited, but then it was thwarted by
- 31:16Speaker 6: these over regulations and that type of thing, and that
- 31:18Speaker 6: put us into what was later called the Roosevelt Recession
- 31:22Speaker 6: and the downturn, and so on and so forth.
- 31:24Speaker 5: But you know, part of what happened was that.
- 31:27Speaker 6: Recovery coincided so perfectly with his taking office that two
- 31:32Speaker 6: things occurred. One was, he got a great deal of
- 31:37Speaker 6: credit for it, and everybody thought that these new programs,
- 31:41Speaker 6: the New Deal, was associated with that recovery. But the reality,
- 31:46Speaker 6: the second reality was it that those things happened even
- 31:50Speaker 6: before the New Deal programs were being unfolded.
- 31:53Speaker 3: Into that right well, by the way it happened in
- 31:55Speaker 3: modern times, George H. W. Bush was was, you know,
- 32:00Speaker 3: for this economy being bad, but all of a sudden
- 32:03Speaker 3: he came out of it right at the end, but
- 32:04Speaker 3: it was too late. He didn't get any credit for it,
- 32:06Speaker 3: and Bill Clinton beat him in the election, and then
- 32:09Speaker 3: when the economy turned really good, they all credited Bill Clinton.
- 32:12Speaker 3: But the reality is we were coming out of the recession.
- 32:15Speaker 3: And that's how it always happens, you know, people and numbers.
- 32:19Speaker 3: Data is always behind by a few months. So it
- 32:22Speaker 3: looked like Bush caused a recession. Bush actually got us
- 32:25Speaker 3: out of a recession. It got blamed for the recession
- 32:28Speaker 3: right when we were coming out of it, and then
- 32:30Speaker 3: Bill Clinton picks up all the accolades.
- 32:32Speaker 2: It's just sad. You know what, We're headed to a break.
- 32:36Speaker 2: Stay with me.
- 32:37Speaker 3: I want to talk about this for a minute when
- 32:39Speaker 3: we get back, So don't Coney wear todd sheets.
- 32:41Speaker 2: I want to talk about.
- 32:42Speaker 3: Get ready to answer why is the stock market getting
- 32:46Speaker 3: hit so hard this time around? And I you know,
- 32:50Speaker 3: my answer is most Americans are behind Trump and they
- 32:54Speaker 3: want the tariffs, and they see what Trump's try to.
- 32:56Speaker 2: Do and they support him.
- 32:57Speaker 3: But not on Wall Street because they all make money
- 33:00Speaker 3: off of China, so they're scared to death they're gonna
- 33:02Speaker 3: lose money, and they're very greedy and very selfish on
- 33:06Speaker 3: Wall Street, all these corporate guys. I think that's the
- 33:09Speaker 3: reason Wall Street's down, but not the rest of the country.
- 33:13Speaker 3: I think Main Street is recovering from the Biden recession,
- 33:16Speaker 3: and I think Wall Street is just upset because Trump
- 33:19Speaker 3: is gonna upset their Apple card. Let's see what todd
- 33:22Speaker 3: Sheet says. When we get back on way down the roote,
- 33:24Speaker 3: don't go anywhere. Great stuff coming up next. Hi, this
- 33:33Speaker 3: is conservative TV and radio host and best selling author
- 33:36Speaker 3: Wayne Ellen Root for Advantage Goal. The dollar is lost
- 33:40Speaker 3: ninety eight percent of its purchasing power over the last
- 33:43Speaker 3: one hundred years. You heard me right, ninety and it's
- 33:46Speaker 3: about to get worse. The government keeps printing money like crazy,
- 33:49Speaker 3: inflation and debt or exploding, and your savings are worth
- 33:52Speaker 3: less every single day.
- 33:54Speaker 2: So let me ask you, what's your plan when the
- 33:56Speaker 2: dollar collapses? Gold is the answer. It's it's valuable.
- 34:01Speaker 3: It has survived every economic disaster in history, and the
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- 34:22Speaker 2: That's Root to eight five five four to five.
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- 36:48Speaker 3: as I was going out, you heard a woman ask
- 36:51Speaker 3: you a question. It was Siri on my cell phone.
- 36:54Speaker 3: I have no idea that happened. I think I brushed
- 36:56Speaker 3: it with my hand and suddenly Siri is asking me
- 37:00Speaker 3: when you say that again, please ask that question again.
- 37:03Speaker 2: It was very weird, Like in the last.
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- 38:29Speaker 3: Todd Sheets is with us, author of the newsletter on
- 38:32Speaker 3: Wealth and Progress on Substack, author of the book two
- 38:35Speaker 3: thousand and eight What Really Happened and his website Todd
- 38:38Speaker 3: Sheets Writer dot com as in wr R Todd Sheets
- 38:43Speaker 3: Writer dot com.
- 38:44Speaker 2: Todd, welcome back to the show.
- 38:47Speaker 3: By the way, as far as your book two thousand
- 38:49Speaker 3: and eight, What Really did Happen?
- 38:51Speaker 2: In two thousand and eight.
- 38:54Speaker 6: Yeah, well, so that actually will lead us right into
- 38:56Speaker 6: where we left. Two big things really happened to lead
- 39:00Speaker 6: us into the housing bubble that took us into the
- 39:03Speaker 6: financial crisis. The first was that Banni May and Freddie Mack,
- 39:07Speaker 6: the government sponsored enterprises, by the late nineteen nineties, had
- 39:12Speaker 6: become the dominant and driving force in the housing finance markets,
- 39:16Speaker 6: so big that for the first time in the history
- 39:19Speaker 6: of the country's housing markets, they alone were able to
- 39:23Speaker 6: move housing price appreciation. And they undertook a massive expansion
- 39:28Speaker 6: of their business in nineteen ninety eight, and if you
- 39:30Speaker 6: go back and look at the data, that's exactly when
- 39:33Speaker 6: the housing bubble was triggered.
- 39:35Speaker 5: That was the liftoff phase.
- 39:36Speaker 6: The second key thing that happened, and this is what
- 39:39Speaker 6: will lead into kind of where we are right now
- 39:41Speaker 6: in the stock market reaction that we're looking at as
- 39:44Speaker 6: a result of these tariff proposals. The second thing that
- 39:47Speaker 6: happened was in the early two thousands, after the dot
- 39:51Speaker 6: com bubble collapsed and the markets fell apart, the Federal
- 39:56Speaker 6: Reserve stepped in and drove short term interest rate to
- 40:00Speaker 6: historic lows to try and.
- 40:02Speaker 5: Reinvigorate the economy.
- 40:04Speaker 6: The mistake that they made, unwittingly is that they drove
- 40:08Speaker 6: the cost of short term mortgages down, or the interest
- 40:12Speaker 6: rate on short term mortgages down below the rate of
- 40:15Speaker 6: elevated housing price appreciation that had been triggered previously by
- 40:19Speaker 6: the GSS. That was a historically unique set of circumstances,
- 40:23Speaker 6: which basically meant if you leveraged up a housing purchase
- 40:28Speaker 6: with short term variable rate financing an financing adjustable rate mortgage,
- 40:34Speaker 6: you could massively leverage up the returns you could expect
- 40:38Speaker 6: on your equity investment, and all of a sudden, housing
- 40:41Speaker 6: became a short term speculative investment instead of like a
- 40:46Speaker 6: long term store of value which it had been before.
- 40:49Speaker 6: And that's what really fueled all the craziness that then
- 40:52Speaker 6: occurred through the mid two thousands and the Yeah.
- 40:57Speaker 5: So let's get to the day. So the FED fail to.
- 41:00Speaker 6: Understand and has still not acknowledged that that was a
- 41:04Speaker 6: major part of causing the housing bubble with those excessively
- 41:07Speaker 6: easy money policies. So when the financial crisis came, they
- 41:12Speaker 6: repeated the same thing, and we went through the twenty
- 41:15Speaker 6: tens with even more extreme easy money policies.
- 41:18Speaker 5: And as a result, today what do we have.
- 41:22Speaker 6: We have extraordinarily high housing prices, which has created an
- 41:26Speaker 6: affordability crisis. And we also have very high valuations in
- 41:30Speaker 6: the stock and bond markets. And so part of the
- 41:34Speaker 6: issue with the stock markets right now is that we're
- 41:37Speaker 6: in a period of time where valuations are very high,
- 41:41Speaker 6: which makes them very susceptible to disruptions or potential uncertainty.
- 41:46Speaker 5: And that's part of what's happened with the proposed tariffs here.
- 41:50Speaker 6: If these tariffs, yeah, uncertain because basically what happened, yeah,
- 41:56Speaker 6: in the way it gets translated through Wall Street. I
- 41:58Speaker 6: used to be a Wall Street investment anchor for you know,
- 42:00Speaker 6: that's the first part of my career is in the
- 42:04Speaker 6: earnings projections and expectations for companies. So all the analysts
- 42:09Speaker 6: and the research people are looking at the next twelve
- 42:13Speaker 6: to twenty four months. You're trying to estimate what company
- 42:15Speaker 6: earnings are going to be. And if you have a
- 42:17Speaker 6: potentially significant event like this, right, it creates uncertainty market
- 42:23Speaker 6: and they go down.
- 42:24Speaker 2: I got it, I got it. But the people are
- 42:26Speaker 2: the people are behind Trump.
- 42:27Speaker 3: The average working class, middle class guy or gal is
- 42:30Speaker 3: behind Trump and likes the tariffs. That understands it's going
- 42:33Speaker 3: to help them get a higher quality of life. Eventually
- 42:35Speaker 3: they might have to take a hit. Now, no pain,
- 42:38Speaker 3: no gain. They understand there's going to be some pain.
- 42:40Speaker 3: But on Wall Street they don't like pain. They don't
- 42:43Speaker 3: like any uncertainty or any pain.
- 42:45Speaker 2: So Todd is right.
- 42:46Speaker 3: And Wall Street is ratcheting down, but the rest of
- 42:49Speaker 3: the country is happy with what's going on.
- 42:51Speaker 2: This is the divide.
- 42:52Speaker 3: Now in America between Wall Street and Main Street. And
- 42:55Speaker 3: I'm with main Street, solidly with main Street. Always happened
- 42:58Speaker 3: Todd Sheets, author of two thousand and eight. What really
- 43:01Speaker 3: happened is website Toddsheets writer dot com.
- 43:04Speaker 2: Thank you, Todd.
- 43:06Speaker 3: I'm Waynelarot will be right back. Don't go anywhere. Our
- 43:08Speaker 3: number two coming up next.
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