March 10, 2025 • 41 mins
The stock market tanked after President Trump declined to dismiss the notion of a possible recession this year. The way we are going now, do you think we are heading for a recession? Amid a 3 front tariff war with China, Canada and Mexico, is Trump throwing his political capital out the window?
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Episode Transcript
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Speaker 1 (00:00):
It's a nice.
Speaker 2 (00:02):
Undoing Boston's News Radio.
Speaker 3 (00:06):
We're talking about what happened on Wall Street today. Again,
some of you may not have stock investments, but virtually
everybody in America is expect is impacted by what happened
on Wall Street today because if you have a pension plan,
(00:28):
if your union is invested in Wall Street, it's a
bud bath today. Okay, just no way to describe it
in any other way. So far, all the callers this
evening have been men, which always disappoints me. But it
disappoints me that we don't have a female perspective on this.
(00:50):
This was a rough, rough day, no matter how you
want to how you want to look at it. The
Dow lost eight and ninety points, down over two percent,
Nasdaq down four percent, the S and P five hundred
down two point seven percent. That's an average of about
three percent, and the futures tomorrow. Look, the market might
(01:12):
bounce back a little bit tomorrow, but it's not going
to bounce back from where it landed today. Okay. The
investors in Wall Street will call it a dead cat bounce,
but that's that's neither here nor there. The question is
has the administration decided to take on too many tasks simultaneously,
(01:34):
and it whether you want to talk about the tariffs
with China, Mexico, and Canada. Obviously, the Ukraine situation may
resolve itself. I mean there are indications that that could
resolve itself the most easily of everything, which is saying
something in of itself. So I just have one line
open at six one, seven, two, five, four, ten thirty.
(01:56):
You do not have to be an economics major from
Harvard to participate in the conversation. We're just looking to
find out what you think and are you concerned and
should the Trump administration be concerned? We played earlier and
if I have to, I will play them again. A
couple of soundbites from yesterday where he seemed to not
(02:17):
handle the question with the ease at which it seemed
that he was. He was caught off balance when this
interviewer on one of the Sunday shows asked him about
the R word. In the meantime, let's get Roland. Hey,
going to go back to Paul and Lynn. We've had
more pauls tonight that we normally have. Hi, Paul and Lynn,
how are you tonight?
Speaker 4 (02:37):
Yeah, I'm doing good.
Speaker 1 (02:38):
Dan.
Speaker 4 (02:40):
I don't know much about economics, but I got a question,
does Donald Trump have any thing to do with the
stock market happening today? And then I'm going to comment, in.
Speaker 3 (02:54):
My opinion, it has everything to do with what happened today.
I think the market doesn't like uncertainty, and certainly one
of the concerns that the market is always going to
have is when someone, particularly in his position, doesn't respond
quickly to the even mere suggestion of a recession. He
(03:16):
fumbled that question yesterday, in my opinion, and that has
contributed what have the market been up today? I doubt it,
but I think the market dove a lot deeper because
of that, in my opinion.
Speaker 4 (03:30):
And if we stayed with the other administration, which is
the worst of the you know. But I think with
all these tariffs that he has set that's never happened
in any president had any set before history that many tariffs.
(03:53):
And I think we wanted this change, and we need
to stand by him and not take the fall, but
stand by and see where this is going. Because it
is premature right now. But I think if I'm at
market basket and I'm looking at what, uh, you know, avocados,
(04:18):
I'm not going to buy them because I can't afford them.
And that's something that I can help out with if
you know, I can't help out much, but I can
help out by saying I'm going to give avocados until
the tariffs lifts it, you know.
Speaker 3 (04:37):
I mean, look, as individual consumers, we can do all
of that. And I think that's a pretty sophisticated comment
that you made there. If you look at a product
that you know came from Mexico and you say, guess what,
as long as they're going to throw some tariffs on us,
you would hope that cooler heads would prevail. I mean, ideally,
(04:59):
I agree with President Trump that what you want is
free trade. I mean that's always been the goal of Republicans.
Free trade. Uh, fair trade is fair trade. So that.
But but we've we've lost me car manufacturing plans to Mexico.
(05:20):
Jobs go to Mexico, and so Donald Trump is trying
to do something to bring those jobs back, which I
admire him for. But I just think and and there
is going to be some discomfort, if not pain, But
today was a pretty painful day for anybody who's invested
in the star market, stock market and all of us are,
whether directly or indirectly. Paul, I appreciate you call you.
(05:43):
You made some really really good point there, and I
think people.
Speaker 1 (05:46):
Should follow you.
Speaker 3 (05:47):
No, I'm serious, that was a pretty good economic point.
We're gonna you're gonna give you an A for economics tonight,
and I mean that seriously, that was a good one.
People need to need to not only voted elections, but
they also need to vote, you know, economically when you
go somewhere. There's some items that I'm not buying. I mean,
I know that there's been some items that have been
(06:08):
pumped up by particularly items that I like. Okay, I'm
not buying them, as simple as that, because I'm offended that,
you know, cookies that you know, a couple of years
ago were maybe two ninety nine are now five oh nine.
It's like that's forty percent or maybe more, that's sixty
(06:28):
seven percent. I don't care how much. That's way too
much in my opinion.
Speaker 4 (06:35):
Wait, now, the girl Scout Cookies, I will not give up.
Speaker 3 (06:40):
Well, you know, the Girl's Scout Cookies need to keep
their cookies in the price range too. Unless you look
at it and say, okay, give me two boxes of
cookies that I'm going to give you one hundred dollars
because I want to make a charitable contribution. But I'm
not making a charitable contribution to some corporation if they've
increased the price of cookies forty percent, trust me on that.
Speaker 4 (06:59):
Okay, see where that went? Well, see to see where
that went? Huh girl, book you see where that went?
Speaker 1 (07:05):
Over time?
Speaker 5 (07:06):
All right?
Speaker 3 (07:07):
Dan, all right, thank you? Yeah, quick break here at
nights I. This is a quick turnaround. We got Jack
on the Cape coming up next, followed by Kevin. I
got Susan and Cambridge into finally breaking the streak of
all male callers, and I got Jim as well. So
we're gonna get everybody in. Only line open sixty, that's
(07:27):
the only one, and dial that. I'll get you in six, one, seven, two, five,
ten thirty back after this.
Speaker 2 (07:34):
Now back to Dan Way live from the Window World
Nice Sight Studios on WBZ News Radio.
Speaker 3 (07:42):
Oh. Next up to Jack down on Cape cod beautiful
day of the Cape today. I hope for you, Jack.
Speaker 6 (07:49):
It certainly was. It really was. It's great to get
out and see the coast in the water. But Dan,
I'm i'm, I'm, I'm seventy and from my perspective, we
have the United we have not had a recession real
what I would consider a real recession since nineteen eighty seven.
Speaker 3 (08:10):
Oh, come on, two thousand, two thousand and seven, two.
Speaker 1 (08:13):
Thousand, Now listen to me.
Speaker 3 (08:14):
Now, go ahead, I'm listening. I just wanted to make
account of right ahead.
Speaker 6 (08:19):
What they've done is they have papered over any of
the necessary contractions of the economy, and that's why we've
got a thirty seven trillion dollar.
Speaker 1 (08:32):
Deficit.
Speaker 3 (08:33):
Okay, I agree at that point.
Speaker 6 (08:36):
Okay, so a lot of this is just my perspective
and analysis. But I see that they're they're they're they're
concealing the collapse of the currency in both the stock
market and housing. These are two massive into of a
(09:01):
dollar dollars, I mean, and this also reflects upon the
loss of the dollar as the reserve currency.
Speaker 1 (09:12):
So I think a lot.
Speaker 6 (09:13):
There's a lot going on here, and I really unfortunately,
fortunately and for whatever, it's just the nature of economics,
but I feel that a major contraction is necessary because
the the basic number formula that we're operating under, I
(09:34):
just don't see. It just doesn't work. Housing is just
out of this world, and if housing's out of this world,
the younger generation I'm thinking of, I think of them,
and it's they got a tough road to home.
Speaker 3 (09:54):
Well everyone, let me say this, Jack, let me just
give you a little bit of counter argument. Okay, as
I say, I do believe the two thousand and seven
two thousand and eight was a pretty tough recession under
the waiting days of the Bush administration. But putting that
behind us, housing in Greater Boston and on Cape Cod
(10:17):
is very expensive, but there's a lot of people, a
lot of places around the country where housing is not
as expensive. So you know, we live in an extraordinarily
expensive part of the state of the country. And ironically, ironically,
(10:38):
more people today can work remotely from their home by
virtue not just COVID, but by virtue of the skill
set that that younger people have, their their ability to
deal more comfortably with computers. And also there's a lot
more jobs that companies are willing to pay people for,
(11:01):
so people don't have to live within one twenty eight anymore.
Speaker 6 (11:05):
Okay, well, yeah, but these jobs are they're either this
touches on musks, getting rid of the government workers. I mean,
a lot of it is paper pushing, and a lot
of this remote work is information pushing. It's not creating
(11:26):
physical process I mean physical the physics. Okay. It's the
difference between the physical economy and the electronic economy. And
this stock market is an electronic economy. It's not real.
And if if president as far as President Trump, I
think he's getting a little caught up in the swamp
(11:48):
and the Wall Street scenario, he's got to go back
to main Street. This whole problem with our country is
going to be solved on main Street, not Wall Street
always is.
Speaker 3 (11:59):
But but what happened today is real. What might happen tomorrow?
Israel Jack, I mean Wall Street is real? Okay, I
mean there's there's people who lost money today.
Speaker 6 (12:10):
And our perception is as long as it goes up,
it's good, and if it goes down, it's bad. But
we have to look at what if it did really
go down? What if what if the market went down
to you know, nineteen eighty seven levels, Well, the dollars.
Speaker 3 (12:30):
That would be if the market went down to nineteen
eighty seven levels, that would make that correction bigger than
the Great Depression of nineteen twenty nine. Absolutely, all right,
I don't think that's going to happen, but but you know,
you never say never. The point is this, let's assume
(12:54):
that the average home within one twenty eight is now
a million dollars.
Speaker 1 (13:00):
Okay?
Speaker 3 (13:02):
Is that a fear assessment? What you said?
Speaker 6 (13:04):
Yeah, we'll, we'll, we'll take that.
Speaker 3 (13:07):
Okay. That means that there's some homes that are less
than a million dollars. Uh, and there are some homes
more than a million dollars, and salaries are greater today.
The question is when the salaries are out of whack
with the expense with the cost of the housing, then
the housing's gonna have to come down because you're going
to have fewer people able to buy that housing. What's
(13:28):
the free market is all about? Here?
Speaker 6 (13:31):
And Dan, Yeah, well let's end this conversation. And I
think that's where we are.
Speaker 3 (13:37):
Okay, fair enough, we can we can end it at
that point. Thanks, Jack, appreciate your calling very much. Have
a good one. Next up, Kevin is in Walpole. Kevin
next on Nightsig go right ahead, Dan, I was just.
Speaker 5 (13:48):
Gonna say, you know, listening to some of the callers,
I actually think the whole thing is planned out. And
what I mean by that is, I think we're over levered.
I think the stock market was way over levered. I
think Trump walked in thinking what does a what does
a correction look like? It's usually a bust of a bubble,
(14:12):
and I think they're trying to very carefully walk and
let air out of the bubble. I think cheap, cheap
interest rates for the last decade allowed companies to get
over levered. I mean, why has Warren Buffett, why has
he moved to over three hundred billion in cash and
now just sitting on the sidelines. What does he do
(14:32):
best when the market corrects and then he comes back in?
And I believe real estate's overlevered. I believe from a
decade of free or very low interest money, they have
to very carefully let the air out of the bubble
so it's not a major crash. And I think this
(14:52):
beset seems very very intelligent. And I think what Trump's
doing with all of this tariffs and this, what is
he doing. He's sending uncertainty to a market that demands certainty,
Like Wall Street functions on certainty.
Speaker 3 (15:08):
And by doing they don't demand it that they like it,
they like.
Speaker 5 (15:12):
It, they like it demands the wrong word. But but
but I think I think what he's doing is he's
trying to help the main street down, which lowering getting
interest rates down would do that. Well, if you take
money out of the stock market and it's sitting on
the sidelines and bank accounts aren't paying a lot, what
(15:33):
do you do. You'll go to something safe like bonds.
They need the bond yield to come down to lower
long term interest rates. I do real estate deal things
like that. You can't even find a good deal today.
They're so thin and the cost of money is so high,
and the and the properties have not come down. Usually
when money used to go up interest rates, the values
(15:56):
would come down. Neither one has given and something has
to give. And I think Trump. I was not a
Trump fan. I did end up voting for him because
I couldn't vote for Kamala or but he was never
my first choice. But I'll tell you, looking back in history,
sometimes the right person is in the right job at
(16:17):
the right time. You know, if a career politician came in,
how would they do these cuts. He doesn't need to
get re elected. He doesn't look for fred. He's not
making friends. I think the stuff he's doing is so
needed for us to remain a healthy country for the
next hundred years. All right, how sustainable?
Speaker 3 (16:40):
One last time you made some you made interesting arguments
that are based in uh, in pretty solid economic theory.
I mean the the interest rates went up very high,
uh in the last two or three years, and then
they started to come back down. UH. Now they're going
(17:01):
back up again. So it's it's like follow the bouncing
ball here.
Speaker 5 (17:06):
Well, and if I read this correctly, of the forty
trillion we're almost in debt, supposedly nine almost ten of
it matures this the end of this year and needs
to be refinanced. So if twenty five percent of the
country's dead, it would it makes sense to artificially bring
(17:27):
us into a recession to lower long term interest rates
in an effort to to be able to refinance that
debt at a lower rate. So I just think, I
think he I'm hoping.
Speaker 3 (17:40):
I understand. Yeah, I understand the point you're making, but
I think that you're giving him probably a little bit
too much credit my be in my opinion, I just
think that I didn't understand how they could allow the
Zelensky deal to get to the point that it got
to the other day. Your staff has to do that
(18:02):
agreement in advance, so that even when Zelensky and and
Trump would be sitting in the White House signing the deal,
the deal was signed four hours ago. Uh, and they're
just going through it. That was an astonishing, an astonishing moment.
And I'm looking now at everything that is up in
the air. He's opened up these tariffs. UH, Mexico and
(18:25):
and UH and China and and Canada has said you
want a war, You got a war. I just think you.
Speaker 5 (18:33):
They'd be fool to go to war. I think it's
all white noise to bring that uncertainty to the market.
Speaker 3 (18:39):
And so you think, do you think that you think
that Mexico and and and China and Canada are in
on this this plot. Is that what you're telling me?
Speaker 5 (18:48):
No, I don't, No, I don't. But I think they'll
get hurt a lot worse than we will. And I
think it's short term.
Speaker 3 (18:57):
Okay, we will, we will see yah. And I loved
your call. Lot of substance to the call. Again, it's
all theory. But guess what you know tomorrow, if all
of us could have seen this, you could have pulled
your money out of the market Friday at some point
(19:18):
and said, Okay, we're gonna get a big bump down
on Monday, and then you could go back in. I mean,
you can't time the market. Anybody who's selling tomorrow.
Speaker 5 (19:28):
The greatest investor has Warren Buffetts moved to over three
hundred billion in cash the last year. He saw this coming.
Speaker 3 (19:37):
Well, then let's see. Let's see where it plays out
when Buffett starts to reinvest. Kevin, you've got to let
us all know here on Night's side.
Speaker 5 (19:46):
Okay, yeah, yep, good luck.
Speaker 3 (19:49):
Yeah, you can get your investments done and then call
us the next day. Fair enough, thanks Kevin. Back to
some good, good analysis. We'll take a break. I got
one line in six month seven two, and I got
one line at six months seven nine. That's the tip,
one line each each place. Fill it up. Coming back
after this one night Side.
Speaker 2 (20:12):
It's night Side with Boston's news radio.
Speaker 3 (20:18):
Keep growing here. I'm gonna go to Susan and Cambridge. Susan,
you were next on Nightside. Welcome back.
Speaker 7 (20:25):
Hey, good evening, Dan. I don't know where all the
girls are at tonight, but yeah, I'm disappointed. So I
figured I would give a call, which is always dangerous
on a Monday, because you know, there's a whole week
ahead and I got, you know, miss out on things
later in the week to call him out.
Speaker 3 (20:44):
Give you a haul passed. Since you were brave enough
to call tonight, you got a hall pass for the
rest of the week as well. Rob marked that down.
Speaker 7 (20:51):
Go ahead, Susan, Okay, thanks so much. So I love
these callers who are like, you know, he's playing four
dimensional chests here, you know that what we're up to, look,
I think it's chaos, and I think that, uh, you know,
(21:15):
even if we were going to try and use terrors strategically,
there's a question of timing and would this be the
right time to do it, because you have an economy
and a world economy that's coming back from the pandemic
from everybody had inflation worldwide and things were just starting
(21:36):
to you know, we had supply change disrupted all that,
and we've just started to you know finally that had
kind of been pieced back together and interest rates were
starting to come down, prices were no longer going up
at the same rate, and so, you know, is that
(21:58):
the best time to suddenly turn it all you know,
turn it all up again, like I just think, just
on a basic timing issue, it's it's the wrong time
to do it.
Speaker 3 (22:11):
But well, but there's a lot going on too. I
mean this you've got obviously you have forget. I haven't
even mentioned the Middle East. Hamas is still holding hostages.
They don't know how many of them are dead, how
many of them are alive. So you got that situation
which is an open sore.
Speaker 8 (22:29):
Uh.
Speaker 3 (22:30):
You have all the stuff that he said earlier about
we're going to turn it into you know, the Riviera
on the mediterrane or whatever.
Speaker 1 (22:39):
You know, Yeah, we're.
Speaker 3 (22:41):
Gonna somehow take and that's that was kind of crazy,
just as a whole lot here that that you would say,
I mean, how many of these things are you going
to take on simultaneously? These are people and you know,
I listened to the press sect. Terry every day holds
(23:01):
a news conference and says things are going great. The
executive orders, the layoffs, the cutbacks, the closing of departments.
You know, you got to give the Democrats credit. They
gave him all of the nominations he wanted, controversial and otherwise.
So he kind of turned around to say, well, you
didn't give me this guy you give me that that
(23:22):
woman that he got all of them. To the rest
of my knowls, I don't think one one was rejected.
Speaker 9 (23:29):
Yeah, I don't think.
Speaker 3 (23:32):
So. I if it all goes south here, he's not
going to be able to point fingers he helped, you know,
Bell do it.
Speaker 7 (23:39):
He'll still be blamed blaming Biden and Hillary till the
day he dies. But I just wanted to say specifically
on tariff. Yeah, I want to break them down into
two different categories. One is like for manufacturing and one
is for like goods, uh, you know, farm goods, et cetera.
So he's lying, well, can I point out that he
(24:02):
renegotiated NAFTA in his last term, So he's complaining about
things with Canada that he negotiated. The two hundred percent
tariff on eggs or on dairy products is actually not
a two hundred percent tariff. What it is is if
it goes above a certain level of US dairy imports,
(24:25):
then that kicks in. It never goes above that level,
but he negotiated that, that was in his last term.
So and then you have the question of manufacturing. Well,
I mean from the experts I've heard, there is nothing
that is made these days, that is made if it
(24:45):
has more than two components, that is made in just
one country. Things go back and forth all over the place,
like components come from different places all over the world.
How are you going to like realign all of that?
Speaker 5 (25:00):
Like that's well the way.
Speaker 3 (25:04):
On that, No, your your your question. But how do
you relign it? You realign it by trying to get
to the point where no one's charging tariffs. I mean,
that's right, Okay, that's the goal. I mean, if you're
selling you know today in the goal, but if you're
selling beer from Massachusetts that people in Canada want to drink,
(25:26):
you know, it should go over the board. At the
same time, when Molson sends their beer down here, we
shouldn't be throwing tariffs on there because all it does
tariffs make it expensive for the for the end consumer.
And Republicans for years and years and years said, you know,
fair trade is no tariffs. So the goal is fine,
But the implementation of the goal and to open up
(25:47):
a trade war with China, Mexico and Canada simultaneously, I just.
Speaker 7 (25:54):
Think, and just to point out on the manufacturing front,
he's he's actually talking now about district trying the Chips Act,
which was a bipartisan deal that was supposed to, you know,
bring back semiconductor manufacturing to the US by all you
know measures, but it.
Speaker 3 (26:13):
Was well, wait a second, it was a bipartisan deal
that sent all that stuff overseas back. You've got to
go back to nineteen ninety six when Clinton and Gingrich basically.
Speaker 7 (26:26):
Sorry, but now it's been Biden brought it back.
Speaker 3 (26:29):
Well, I don't know how fast it's come back. I
don't know.
Speaker 7 (26:33):
Oh that's what this act is trying to do. And
he's saying it's a horrible, horrible and he wants to
gut it now.
Speaker 3 (26:39):
So well, I don't know enough about that specific I
don't know. I do know this that that we had
a lot of chips prior to ninety six that were
made in Puerto Rico, and we only seemed to have it.
Became aware of it when the supply chain problems associated
with COVID were explained to us as Americans, and we said,
(27:01):
was our chips are being manufactured in Taiwan. So I
don't know. I don't have that that data in front
of me. Okay, uh, anything that he can do to
bring chips back to the US. Manufacturing in the US
is a good thing. I guess we're arguing about how
it's being done. That's my problem.
Speaker 7 (27:22):
Weally said why he wants to get the chips ACKed?
I mean except that you know it was negotiated, you know,
And by by I mean he really has.
Speaker 3 (27:31):
Maybe he feels maybe he feels is not. I don't know,
but but that is lost at this point in the
stuff that we've seen, that Zolensky dvance or Trump WrestleMania
in the OVERLA it was crazy. It was crazy. I
will agree with you in that because I saw it
with my own eyes. I don't know.
Speaker 10 (27:52):
Which is just.
Speaker 7 (27:53):
I mean, I actually think they're creating more waste than
they're than they're cutting at the moment, I.
Speaker 3 (27:59):
Want to see. What I want to see is specific.
Show me what you've cut. Show you know. We all
know that this waste. There's no question about that. There's
waste in the federal government. Would you agree with that?
I hope? Can we agree? Sure? So if Elon Musk
or if William Proxmyer was the ghost of William Proxmyer,
who was a Democratic Senator from Wisconsin who used to
(28:22):
basically every year rail against that stuff if they if
they can, whoever it is, gets it out, Let's get
it out because I want my tax dollars to go
for to defend the country and to help people who
need help. Is that too much to ask?
Speaker 10 (28:38):
No?
Speaker 7 (28:38):
But I think bringing in somebody who knows absolutely nothing
about how you know, the government runs and having him
take a sledgehammer to things rather than a more you know.
Speaker 11 (28:52):
Scout right.
Speaker 3 (28:54):
Well, I'm saying I have said that. But what I
want to see is I want to see results. I
want to see results, specific results. Susan, great call. I
got to keep rolling here though. Okay, you got your
time of the night. Okay, and you get it awesome.
Thanks all right, let me I want to get Jim
in here. Jimmy've been very patient. Gets you in before
(29:14):
the break, right ahead.
Speaker 8 (29:15):
Jim, And thanks for getting me in before the break.
Thank you for taking my call. So lots of really
good h feedback here. So as hard as I try
to avoid the invest commercials, I still end up hearing
enough of them that I'm an actual expert on stock market.
So here's the deal.
Speaker 9 (29:39):
It's it's rocket science, but you don't have to be
a rocket scientist. In order to use it and understand.
Speaker 8 (29:44):
First of all, there's risk involved. You're supposed to be diversified.
Your diversification is supposed to be based on your adversity
to risk. And my this is my personal observation. When
securities go up, come on of these go down, and
generally speaking, when securities go down, commodities go up. So
(30:07):
you know it shouldn't You shouldn't have so much money
in there that in any way, in a way that's
gonna really hurt you. So I don't think you should
be pulling money. I don't understand why people are pulling
money out of there, but I don't understand everything about
So that's my observation.
Speaker 3 (30:24):
Look, I think we would agree panic selling is not
a good thing. Okay, anybody who's who panics and gets scared.
You can't be afraid in the market. You got to
say to yourself, Okay, bad day, let's try to see
what happens. I think there may be more bad days,
but I'm staying with the market because that over my lifetime,
(30:45):
you stay, you stay, and you buy, and you you
invest when you can on the downside. But but I
just think that this has been a really rough couple
of weeks beginning with the Zelensky meeting, and and it's
been a rough tent It's been a rough ten days.
Frankly for the first ten days of March after the
(31:07):
Zelenski meeting on the twenty eighth, been a top bunch
of tough days for this administration. And they came in
with wind at their back, and I think that wind
is slowly but surely swinging in the other direction. And
for this to happen this quickly, they better get their
act together too.
Speaker 9 (31:28):
Well. I agree with you on the wind, I I agree,
but I disagree with you. Better get their act together
because I think the United States is by far the strongest,
most wealthiest, productive country in the world. And I think
he's just trying to introduce everyone else to that idea
(31:50):
and they're not taking it very well. But eventually they will.
We'll get through to them, and then we will re
take our eat.
Speaker 8 (32:01):
With the right hand.
Speaker 5 (32:02):
Now.
Speaker 9 (32:03):
But I just I just think that people, he's you know,
he's just establishing his you know, his power. He's letting
everybody know I'm the boss.
Speaker 6 (32:14):
Now.
Speaker 2 (32:15):
Well, I don't like it if you don't like.
Speaker 3 (32:17):
It, as long as long as you win as long
as you win to fight you it can be the
toughest guy in the block, but you got to win
every fight, Okay. And I think that, Look, i've made
my point here. I think you've made yours. And I
think that it's going to get a little choppy. It's
going to probably get more choppy before it gets smooth.
And in the meantime, you take a day off the calendar,
(32:38):
a day off the calendar, and the Republicans are wasting time,
in my opinion.
Speaker 9 (32:42):
Something else.
Speaker 8 (32:42):
I'll tell you that. I just found out Canada started
the tariff thing by putting a twenty five percent tariff
on Chinese made electric cars about a year ago.
Speaker 3 (32:52):
Yeah, they've been in a fight. China and Canada have
been a fight as well for on a number.
Speaker 8 (32:56):
Of so they don't really have too much. They don't
really have too much mean to complain about tariffs.
Speaker 11 (33:02):
All right, I gotta go, all right, thank you, Jim,
have a great night.
Speaker 3 (33:05):
We'll be back on nightside right after the break. I
got some call. If you want to, I get you
in six one, seven, two, five, four ten thirty six
one seven, nine, three, one ten thirty Back on Nightside.
Been an interesting conversation. A lot of smart people in
my audience tonight, whether you agree or disagree with them,
people are bringing their a game, which is well we
ask you to do here on Nightside.
Speaker 2 (33:26):
Now back to Dan Ray Mine from the window World
Nightside Studios on WBZ News Radio.
Speaker 3 (33:34):
All Right, folks, all of a sudden, couple of folks
dropped off here, feel free. I would love to know.
I get concerned about the stock market. If you're a
Trump supporter, did you expect this. It's been a rough
ten days from the moment of the Zelensky meeting in
the Oval Office. This president, I think at this point,
(33:58):
has spent a lot of political capital, and I'm telling
you that, uh, it's the hounds are going to turn
on him real quickly.
Speaker 2 (34:07):
Here.
Speaker 3 (34:07):
He's got uh, he's got a debt ceiling vote coming
up later this week. There's there's a lot on his plate.
And I think that whether you're a supporter or not,
you're gonna look at him a little differently. He I
mean just from last when you when you go back
(34:28):
to what last Tuesday night. Uh, he looked in pretty
good shape at the Congressional speech, the speech to the
Joint Session of Congress today. This was a rough day
for the administration. Six six, seven nine. Going to go
(34:49):
to Mike in Beverly. Next, Mike, you're next on nightside.
Speaker 5 (34:52):
Go ahead, Mike, Hey, Dan Hawaii.
Speaker 11 (34:56):
Can hear me?
Speaker 3 (34:57):
I can hear you? Find Mike. I know you're support
order of President Trump from a prior phone calls.
Speaker 1 (35:04):
Yeah.
Speaker 11 (35:07):
Then he's fifty days in. Then five oh, fifty days in.
I mean one thing quickly, I'm a chip sacked. Why
we like that, Lady Biden spent taxpayer money to fund
a business for that ship sack, And that's why Trump
wasn't changing. He isn't want to use taxpayer money to
(35:28):
fund a private business. That's what that was about, which
I support. Okay, Okay, that was that about.
Speaker 3 (35:36):
How do you feel after the performance of the stock
market in the last ten days.
Speaker 11 (35:41):
It's a correction, then it is what it is. Then,
I mean my heroes up and then down. You know,
I mean, I get it. You know it's a correction,
and I've watched people today.
Speaker 1 (35:51):
I get it.
Speaker 11 (35:51):
Don't freak out. He's fifty days in. Joe Biden left.
Speaker 1 (35:55):
Us in a mess.
Speaker 11 (35:56):
He would blow money out like water, So like, how
can it you know, just fifty days. He's not more
than fifty days? Is binding four years?
Speaker 4 (36:06):
Don't panic.
Speaker 3 (36:08):
I'm not panicking. I'm not panicking. I'm not asking questions.
I'm asking questions. That's what I do for a living.
I asked questions again.
Speaker 11 (36:17):
But the thing, like the thing was like totally like
he was as like went off the rails and Joe
Biden have the same.
Speaker 10 (36:26):
Wait.
Speaker 3 (36:28):
The Zolensky situation was the result of bad staff work, okay,
because Zolensky never should have been invited to the White House.
If if there was even an inkling that that meeting
was going to blow up, You've never seen.
Speaker 11 (36:47):
I know, but Dererey had a deal already lying up
just to sign. They just wanted to do a correct
first thing in the front.
Speaker 3 (36:55):
You know what I'm saying to you, and I don't
think you're you're hearing me, is it was bad staff
work on the Trump administration that never should have happened.
Zelenski never should have been invited to the White House
until it was signed, sealed, and delivered. And you don't
freelance in front of the media in the Oval Office
and have a meeting devolved to what that what that
(37:19):
was that's bad staff work. All right, Mike, I got
one more. I'm gonna give you. Thank you much, have
a good one. Let me go to Jim and hide park. Jim,
you are next on nice. I go ahead, Jim.
Speaker 1 (37:30):
Hey, thanks there. I enjoy your prokrew very well. But
I got one problem here, and.
Speaker 3 (37:36):
I was just you just got one problem, come on,
good with this one.
Speaker 1 (37:43):
I have a lot furthermore. But I was always too
to follow the money, mister muss is fine. Uh what
was that about fifty so many thousands of people? And
he's often him twenty five thousand dollars to quit the cut?
Just where is that money coming from? With the coming
(38:05):
in the way it is?
Speaker 3 (38:06):
Yeah? Know what he what he said was and I
don't I don't know where that figure of the twenty
five thousand came from. Remember, initially they said, if you
choose to resign from office, you will be you will
be paid through September. Now, knowing the federal the average
federal salary in Washington, that's a lot more than twenty
(38:27):
five thousand dollars, Okay, So I mean it's it's it's
probably more like seventy five thousand, and what they didn't
do was they should. So if you're some sixty nine
year old old employee and you're ready to retire, why
not take take the puye out? They should have said,
(38:51):
it should have been. It just wasn't done well.
Speaker 1 (38:57):
He did out understood if you took a buyout, you
couldn't get unemployment. Is that correct?
Speaker 10 (39:06):
No?
Speaker 3 (39:07):
I don't think so.
Speaker 5 (39:08):
You might be.
Speaker 3 (39:09):
You may be right, but it would seem to me
that before I would take a buyout, I would want
to know, you know, depending upon your circumstances. If I
had another job lined up, I wouldn't worry about unemployment.
But if I was taking a buyout, uh and didn't
have a job prospect lined up, you bet I've contributed,
you know, would have contributed to the unemployment fund. So,
(39:31):
Jimmy Ray's good questions I don't have. I don't have
all the answers, But do me a favor. Keep calling.
I'll give you more time next time. Thanks for calling. Okay,
keep calling because you made some really good points. And
there's a lot of this stuff which I don't know
the answer to, and I want to know the answer to.
I want to know who are these people? Yeah, that's it.
(39:52):
We've been we've been told a lot of stuff and
we haven't represented with a lot of evidence. That troubles me,
that worries me.
Speaker 1 (39:58):
Okay, Okay, talk to you soon.
Speaker 3 (40:02):
Thanks. Okay, we're gonna get Lola in here from San Diego. Lola,
I can give you only about a minute, but boy,
it's good to hear your voice.
Speaker 10 (40:09):
How you doing, Wow, Dan, Well, everything's the same as
it was before I left. But we're talking about, you know,
not what's going on in Watertown, but what's going on
in the country. So, yep, a couple of couple of
quick things. We had all these beautiful factories in the
North East corridor and they moved him to the south
(40:32):
because the labor was cheaper. So all the cotton mills
went to Alabama. And then they figured out it's cheaper,
bigger profit margin to go to Mexico.
Speaker 3 (40:45):
Yep.
Speaker 10 (40:45):
So the greedy, greedy CEOs and CFOs of the United States.
Speaker 3 (40:53):
Lola, I got ten seconds for you. You got to
finish in ten seconds.
Speaker 10 (40:58):
Well, you were talking about all the businesses going to Mexico.
That's why.
Speaker 3 (41:03):
Now okay, well we'll see, we'll see, Lola. I flat
out of time. I got a run. Thank you so
much for calling. We're done for the night. Rob Brooks,
great job, Marie, a great job. All the callers, all
the listeners, all dogs, all cats, all pets go to heaven.
That's my Pelle, Charlie Rays, who passed fifteen years ago
in February. That's all. Your pets are our past. They
(41:23):
loved you and you love them. I do think you'll
see them again. I hope to see Gandemore night at
Night's side.
Speaker 1 (41:28):
Everyone.
Speaker 3 (41:28):
Thanks so much for listening. Have a great Tuesday. Everyone.
I'll be on Facebook in just a couple of minutes.
It's a nice.
Speaker 2 (00:02):
Undoing Boston's News Radio.
Speaker 3 (00:06):
We're talking about what happened on Wall Street today. Again,
some of you may not have stock investments, but virtually
everybody in America is expect is impacted by what happened
on Wall Street today because if you have a pension plan,
(00:28):
if your union is invested in Wall Street, it's a
bud bath today. Okay, just no way to describe it
in any other way. So far, all the callers this
evening have been men, which always disappoints me. But it
disappoints me that we don't have a female perspective on this.
(00:50):
This was a rough, rough day, no matter how you
want to how you want to look at it. The
Dow lost eight and ninety points, down over two percent,
Nasdaq down four percent, the S and P five hundred
down two point seven percent. That's an average of about
three percent, and the futures tomorrow. Look, the market might
(01:12):
bounce back a little bit tomorrow, but it's not going
to bounce back from where it landed today. Okay. The
investors in Wall Street will call it a dead cat bounce,
but that's that's neither here nor there. The question is
has the administration decided to take on too many tasks simultaneously,
(01:34):
and it whether you want to talk about the tariffs
with China, Mexico, and Canada. Obviously, the Ukraine situation may
resolve itself. I mean there are indications that that could
resolve itself the most easily of everything, which is saying
something in of itself. So I just have one line
open at six one, seven, two, five, four, ten thirty.
(01:56):
You do not have to be an economics major from
Harvard to participate in the conversation. We're just looking to
find out what you think and are you concerned and
should the Trump administration be concerned? We played earlier and
if I have to, I will play them again. A
couple of soundbites from yesterday where he seemed to not
(02:17):
handle the question with the ease at which it seemed
that he was. He was caught off balance when this
interviewer on one of the Sunday shows asked him about
the R word. In the meantime, let's get Roland. Hey,
going to go back to Paul and Lynn. We've had
more pauls tonight that we normally have. Hi, Paul and Lynn,
how are you tonight?
Speaker 4 (02:37):
Yeah, I'm doing good.
Speaker 1 (02:38):
Dan.
Speaker 4 (02:40):
I don't know much about economics, but I got a question,
does Donald Trump have any thing to do with the
stock market happening today? And then I'm going to comment, in.
Speaker 3 (02:54):
My opinion, it has everything to do with what happened today.
I think the market doesn't like uncertainty, and certainly one
of the concerns that the market is always going to
have is when someone, particularly in his position, doesn't respond
quickly to the even mere suggestion of a recession. He
(03:16):
fumbled that question yesterday, in my opinion, and that has
contributed what have the market been up today? I doubt it,
but I think the market dove a lot deeper because
of that, in my opinion.
Speaker 4 (03:30):
And if we stayed with the other administration, which is
the worst of the you know. But I think with
all these tariffs that he has set that's never happened
in any president had any set before history that many tariffs.
(03:53):
And I think we wanted this change, and we need
to stand by him and not take the fall, but
stand by and see where this is going. Because it
is premature right now. But I think if I'm at
market basket and I'm looking at what, uh, you know, avocados,
(04:18):
I'm not going to buy them because I can't afford them.
And that's something that I can help out with if
you know, I can't help out much, but I can
help out by saying I'm going to give avocados until
the tariffs lifts it, you know.
Speaker 3 (04:37):
I mean, look, as individual consumers, we can do all
of that. And I think that's a pretty sophisticated comment
that you made there. If you look at a product
that you know came from Mexico and you say, guess what,
as long as they're going to throw some tariffs on us,
you would hope that cooler heads would prevail. I mean, ideally,
(04:59):
I agree with President Trump that what you want is
free trade. I mean that's always been the goal of Republicans.
Free trade. Uh, fair trade is fair trade. So that.
But but we've we've lost me car manufacturing plans to Mexico.
(05:20):
Jobs go to Mexico, and so Donald Trump is trying
to do something to bring those jobs back, which I
admire him for. But I just think and and there
is going to be some discomfort, if not pain, But
today was a pretty painful day for anybody who's invested
in the star market, stock market and all of us are,
whether directly or indirectly. Paul, I appreciate you call you.
(05:43):
You made some really really good point there, and I
think people.
Speaker 1 (05:46):
Should follow you.
Speaker 3 (05:47):
No, I'm serious, that was a pretty good economic point.
We're gonna you're gonna give you an A for economics tonight,
and I mean that seriously, that was a good one.
People need to need to not only voted elections, but
they also need to vote, you know, economically when you
go somewhere. There's some items that I'm not buying. I mean,
I know that there's been some items that have been
(06:08):
pumped up by particularly items that I like. Okay, I'm
not buying them, as simple as that, because I'm offended that,
you know, cookies that you know, a couple of years
ago were maybe two ninety nine are now five oh nine.
It's like that's forty percent or maybe more, that's sixty
(06:28):
seven percent. I don't care how much. That's way too
much in my opinion.
Speaker 4 (06:35):
Wait, now, the girl Scout Cookies, I will not give up.
Speaker 3 (06:40):
Well, you know, the Girl's Scout Cookies need to keep
their cookies in the price range too. Unless you look
at it and say, okay, give me two boxes of
cookies that I'm going to give you one hundred dollars
because I want to make a charitable contribution. But I'm
not making a charitable contribution to some corporation if they've
increased the price of cookies forty percent, trust me on that.
Speaker 4 (06:59):
Okay, see where that went? Well, see to see where
that went? Huh girl, book you see where that went?
Speaker 1 (07:05):
Over time?
Speaker 5 (07:06):
All right?
Speaker 3 (07:07):
Dan, all right, thank you? Yeah, quick break here at
nights I. This is a quick turnaround. We got Jack
on the Cape coming up next, followed by Kevin. I
got Susan and Cambridge into finally breaking the streak of
all male callers, and I got Jim as well. So
we're gonna get everybody in. Only line open sixty, that's
(07:27):
the only one, and dial that. I'll get you in six, one, seven, two, five,
ten thirty back after this.
Speaker 2 (07:34):
Now back to Dan Way live from the Window World
Nice Sight Studios on WBZ News Radio.
Speaker 3 (07:42):
Oh. Next up to Jack down on Cape cod beautiful
day of the Cape today. I hope for you, Jack.
Speaker 6 (07:49):
It certainly was. It really was. It's great to get
out and see the coast in the water. But Dan,
I'm i'm, I'm, I'm seventy and from my perspective, we
have the United we have not had a recession real
what I would consider a real recession since nineteen eighty seven.
Speaker 3 (08:10):
Oh, come on, two thousand, two thousand and seven, two.
Speaker 1 (08:13):
Thousand, Now listen to me.
Speaker 3 (08:14):
Now, go ahead, I'm listening. I just wanted to make
account of right ahead.
Speaker 6 (08:19):
What they've done is they have papered over any of
the necessary contractions of the economy, and that's why we've
got a thirty seven trillion dollar.
Speaker 1 (08:32):
Deficit.
Speaker 3 (08:33):
Okay, I agree at that point.
Speaker 6 (08:36):
Okay, so a lot of this is just my perspective
and analysis. But I see that they're they're they're they're
concealing the collapse of the currency in both the stock
market and housing. These are two massive into of a
(09:01):
dollar dollars, I mean, and this also reflects upon the
loss of the dollar as the reserve currency.
Speaker 1 (09:12):
So I think a lot.
Speaker 6 (09:13):
There's a lot going on here, and I really unfortunately,
fortunately and for whatever, it's just the nature of economics,
but I feel that a major contraction is necessary because
the the basic number formula that we're operating under, I
(09:34):
just don't see. It just doesn't work. Housing is just
out of this world, and if housing's out of this world,
the younger generation I'm thinking of, I think of them,
and it's they got a tough road to home.
Speaker 3 (09:54):
Well everyone, let me say this, Jack, let me just
give you a little bit of counter argument. Okay, as
I say, I do believe the two thousand and seven
two thousand and eight was a pretty tough recession under
the waiting days of the Bush administration. But putting that
behind us, housing in Greater Boston and on Cape Cod
(10:17):
is very expensive, but there's a lot of people, a
lot of places around the country where housing is not
as expensive. So you know, we live in an extraordinarily
expensive part of the state of the country. And ironically, ironically,
(10:38):
more people today can work remotely from their home by
virtue not just COVID, but by virtue of the skill
set that that younger people have, their their ability to
deal more comfortably with computers. And also there's a lot
more jobs that companies are willing to pay people for,
(11:01):
so people don't have to live within one twenty eight anymore.
Speaker 6 (11:05):
Okay, well, yeah, but these jobs are they're either this
touches on musks, getting rid of the government workers. I mean,
a lot of it is paper pushing, and a lot
of this remote work is information pushing. It's not creating
(11:26):
physical process I mean physical the physics. Okay. It's the
difference between the physical economy and the electronic economy. And
this stock market is an electronic economy. It's not real.
And if if president as far as President Trump, I
think he's getting a little caught up in the swamp
(11:48):
and the Wall Street scenario, he's got to go back
to main Street. This whole problem with our country is
going to be solved on main Street, not Wall Street
always is.
Speaker 3 (11:59):
But but what happened today is real. What might happen tomorrow?
Israel Jack, I mean Wall Street is real? Okay, I
mean there's there's people who lost money today.
Speaker 6 (12:10):
And our perception is as long as it goes up,
it's good, and if it goes down, it's bad. But
we have to look at what if it did really
go down? What if what if the market went down
to you know, nineteen eighty seven levels, Well, the dollars.
Speaker 3 (12:30):
That would be if the market went down to nineteen
eighty seven levels, that would make that correction bigger than
the Great Depression of nineteen twenty nine. Absolutely, all right,
I don't think that's going to happen, but but you know,
you never say never. The point is this, let's assume
(12:54):
that the average home within one twenty eight is now
a million dollars.
Speaker 1 (13:00):
Okay?
Speaker 3 (13:02):
Is that a fear assessment? What you said?
Speaker 6 (13:04):
Yeah, we'll, we'll, we'll take that.
Speaker 3 (13:07):
Okay. That means that there's some homes that are less
than a million dollars. Uh, and there are some homes
more than a million dollars, and salaries are greater today.
The question is when the salaries are out of whack
with the expense with the cost of the housing, then
the housing's gonna have to come down because you're going
to have fewer people able to buy that housing. What's
(13:28):
the free market is all about? Here?
Speaker 6 (13:31):
And Dan, Yeah, well let's end this conversation. And I
think that's where we are.
Speaker 3 (13:37):
Okay, fair enough, we can we can end it at
that point. Thanks, Jack, appreciate your calling very much. Have
a good one. Next up, Kevin is in Walpole. Kevin
next on Nightsig go right ahead, Dan, I was just.
Speaker 5 (13:48):
Gonna say, you know, listening to some of the callers,
I actually think the whole thing is planned out. And
what I mean by that is, I think we're over levered.
I think the stock market was way over levered. I
think Trump walked in thinking what does a what does
a correction look like? It's usually a bust of a bubble,
(14:12):
and I think they're trying to very carefully walk and
let air out of the bubble. I think cheap, cheap
interest rates for the last decade allowed companies to get
over levered. I mean, why has Warren Buffett, why has
he moved to over three hundred billion in cash and
now just sitting on the sidelines. What does he do
(14:32):
best when the market corrects and then he comes back in?
And I believe real estate's overlevered. I believe from a
decade of free or very low interest money, they have
to very carefully let the air out of the bubble
so it's not a major crash. And I think this
(14:52):
beset seems very very intelligent. And I think what Trump's
doing with all of this tariffs and this, what is
he doing. He's sending uncertainty to a market that demands certainty,
Like Wall Street functions on certainty.
Speaker 3 (15:08):
And by doing they don't demand it that they like it,
they like.
Speaker 5 (15:12):
It, they like it demands the wrong word. But but
but I think I think what he's doing is he's
trying to help the main street down, which lowering getting
interest rates down would do that. Well, if you take
money out of the stock market and it's sitting on
the sidelines and bank accounts aren't paying a lot, what
(15:33):
do you do. You'll go to something safe like bonds.
They need the bond yield to come down to lower
long term interest rates. I do real estate deal things
like that. You can't even find a good deal today.
They're so thin and the cost of money is so high,
and the and the properties have not come down. Usually
when money used to go up interest rates, the values
(15:56):
would come down. Neither one has given and something has
to give. And I think Trump. I was not a
Trump fan. I did end up voting for him because
I couldn't vote for Kamala or but he was never
my first choice. But I'll tell you, looking back in history,
sometimes the right person is in the right job at
(16:17):
the right time. You know, if a career politician came in,
how would they do these cuts. He doesn't need to
get re elected. He doesn't look for fred. He's not
making friends. I think the stuff he's doing is so
needed for us to remain a healthy country for the
next hundred years. All right, how sustainable?
Speaker 3 (16:40):
One last time you made some you made interesting arguments
that are based in uh, in pretty solid economic theory.
I mean the the interest rates went up very high,
uh in the last two or three years, and then
they started to come back down. UH. Now they're going
(17:01):
back up again. So it's it's like follow the bouncing
ball here.
Speaker 5 (17:06):
Well, and if I read this correctly, of the forty
trillion we're almost in debt, supposedly nine almost ten of
it matures this the end of this year and needs
to be refinanced. So if twenty five percent of the
country's dead, it would it makes sense to artificially bring
(17:27):
us into a recession to lower long term interest rates
in an effort to to be able to refinance that
debt at a lower rate. So I just think, I
think he I'm hoping.
Speaker 3 (17:40):
I understand. Yeah, I understand the point you're making, but
I think that you're giving him probably a little bit
too much credit my be in my opinion, I just
think that I didn't understand how they could allow the
Zelensky deal to get to the point that it got
to the other day. Your staff has to do that
(18:02):
agreement in advance, so that even when Zelensky and and
Trump would be sitting in the White House signing the deal,
the deal was signed four hours ago. Uh, and they're
just going through it. That was an astonishing, an astonishing moment.
And I'm looking now at everything that is up in
the air. He's opened up these tariffs. UH, Mexico and
(18:25):
and UH and China and and Canada has said you
want a war, You got a war. I just think you.
Speaker 5 (18:33):
They'd be fool to go to war. I think it's
all white noise to bring that uncertainty to the market.
Speaker 3 (18:39):
And so you think, do you think that you think
that Mexico and and and China and Canada are in
on this this plot. Is that what you're telling me?
Speaker 5 (18:48):
No, I don't, No, I don't. But I think they'll
get hurt a lot worse than we will. And I
think it's short term.
Speaker 3 (18:57):
Okay, we will, we will see yah. And I loved
your call. Lot of substance to the call. Again, it's
all theory. But guess what you know tomorrow, if all
of us could have seen this, you could have pulled
your money out of the market Friday at some point
(19:18):
and said, Okay, we're gonna get a big bump down
on Monday, and then you could go back in. I mean,
you can't time the market. Anybody who's selling tomorrow.
Speaker 5 (19:28):
The greatest investor has Warren Buffetts moved to over three
hundred billion in cash the last year. He saw this coming.
Speaker 3 (19:37):
Well, then let's see. Let's see where it plays out
when Buffett starts to reinvest. Kevin, you've got to let
us all know here on Night's side.
Speaker 5 (19:46):
Okay, yeah, yep, good luck.
Speaker 3 (19:49):
Yeah, you can get your investments done and then call
us the next day. Fair enough, thanks Kevin. Back to
some good, good analysis. We'll take a break. I got
one line in six month seven two, and I got
one line at six months seven nine. That's the tip,
one line each each place. Fill it up. Coming back
after this one night Side.
Speaker 2 (20:12):
It's night Side with Boston's news radio.
Speaker 3 (20:18):
Keep growing here. I'm gonna go to Susan and Cambridge. Susan,
you were next on Nightside. Welcome back.
Speaker 7 (20:25):
Hey, good evening, Dan. I don't know where all the
girls are at tonight, but yeah, I'm disappointed. So I
figured I would give a call, which is always dangerous
on a Monday, because you know, there's a whole week
ahead and I got, you know, miss out on things
later in the week to call him out.
Speaker 3 (20:44):
Give you a haul passed. Since you were brave enough
to call tonight, you got a hall pass for the
rest of the week as well. Rob marked that down.
Speaker 7 (20:51):
Go ahead, Susan, Okay, thanks so much. So I love
these callers who are like, you know, he's playing four
dimensional chests here, you know that what we're up to, look,
I think it's chaos, and I think that, uh, you know,
(21:15):
even if we were going to try and use terrors strategically,
there's a question of timing and would this be the
right time to do it, because you have an economy
and a world economy that's coming back from the pandemic
from everybody had inflation worldwide and things were just starting
(21:36):
to you know, we had supply change disrupted all that,
and we've just started to you know finally that had
kind of been pieced back together and interest rates were
starting to come down, prices were no longer going up
at the same rate, and so, you know, is that
(21:58):
the best time to suddenly turn it all you know,
turn it all up again, like I just think, just
on a basic timing issue, it's it's the wrong time
to do it.
Speaker 3 (22:11):
But well, but there's a lot going on too. I
mean this you've got obviously you have forget. I haven't
even mentioned the Middle East. Hamas is still holding hostages.
They don't know how many of them are dead, how
many of them are alive. So you got that situation
which is an open sore.
Speaker 8 (22:29):
Uh.
Speaker 3 (22:30):
You have all the stuff that he said earlier about
we're going to turn it into you know, the Riviera
on the mediterrane or whatever.
Speaker 1 (22:39):
You know, Yeah, we're.
Speaker 3 (22:41):
Gonna somehow take and that's that was kind of crazy,
just as a whole lot here that that you would say,
I mean, how many of these things are you going
to take on simultaneously? These are people and you know,
I listened to the press sect. Terry every day holds
(23:01):
a news conference and says things are going great. The
executive orders, the layoffs, the cutbacks, the closing of departments.
You know, you got to give the Democrats credit. They
gave him all of the nominations he wanted, controversial and otherwise.
So he kind of turned around to say, well, you
didn't give me this guy you give me that that
(23:22):
woman that he got all of them. To the rest
of my knowls, I don't think one one was rejected.
Speaker 9 (23:29):
Yeah, I don't think.
Speaker 3 (23:32):
So. I if it all goes south here, he's not
going to be able to point fingers he helped, you know,
Bell do it.
Speaker 7 (23:39):
He'll still be blamed blaming Biden and Hillary till the
day he dies. But I just wanted to say specifically
on tariff. Yeah, I want to break them down into
two different categories. One is like for manufacturing and one
is for like goods, uh, you know, farm goods, et cetera.
So he's lying, well, can I point out that he
(24:02):
renegotiated NAFTA in his last term, So he's complaining about
things with Canada that he negotiated. The two hundred percent
tariff on eggs or on dairy products is actually not
a two hundred percent tariff. What it is is if
it goes above a certain level of US dairy imports,
(24:25):
then that kicks in. It never goes above that level,
but he negotiated that, that was in his last term.
So and then you have the question of manufacturing. Well,
I mean from the experts I've heard, there is nothing
that is made these days, that is made if it
(24:45):
has more than two components, that is made in just
one country. Things go back and forth all over the place,
like components come from different places all over the world.
How are you going to like realign all of that?
Speaker 5 (25:00):
Like that's well the way.
Speaker 3 (25:04):
On that, No, your your your question. But how do
you relign it? You realign it by trying to get
to the point where no one's charging tariffs. I mean,
that's right, Okay, that's the goal. I mean, if you're
selling you know today in the goal, but if you're
selling beer from Massachusetts that people in Canada want to drink,
(25:26):
you know, it should go over the board. At the
same time, when Molson sends their beer down here, we
shouldn't be throwing tariffs on there because all it does
tariffs make it expensive for the for the end consumer.
And Republicans for years and years and years said, you know,
fair trade is no tariffs. So the goal is fine,
But the implementation of the goal and to open up
(25:47):
a trade war with China, Mexico and Canada simultaneously, I just.
Speaker 7 (25:54):
Think, and just to point out on the manufacturing front,
he's he's actually talking now about district trying the Chips Act,
which was a bipartisan deal that was supposed to, you know,
bring back semiconductor manufacturing to the US by all you
know measures, but it.
Speaker 3 (26:13):
Was well, wait a second, it was a bipartisan deal
that sent all that stuff overseas back. You've got to
go back to nineteen ninety six when Clinton and Gingrich basically.
Speaker 7 (26:26):
Sorry, but now it's been Biden brought it back.
Speaker 3 (26:29):
Well, I don't know how fast it's come back. I
don't know.
Speaker 7 (26:33):
Oh that's what this act is trying to do. And
he's saying it's a horrible, horrible and he wants to
gut it now.
Speaker 3 (26:39):
So well, I don't know enough about that specific I
don't know. I do know this that that we had
a lot of chips prior to ninety six that were
made in Puerto Rico, and we only seemed to have it.
Became aware of it when the supply chain problems associated
with COVID were explained to us as Americans, and we said,
(27:01):
was our chips are being manufactured in Taiwan. So I
don't know. I don't have that that data in front
of me. Okay, uh, anything that he can do to
bring chips back to the US. Manufacturing in the US
is a good thing. I guess we're arguing about how
it's being done. That's my problem.
Speaker 7 (27:22):
Weally said why he wants to get the chips ACKed?
I mean except that you know it was negotiated, you know,
And by by I mean he really has.
Speaker 3 (27:31):
Maybe he feels maybe he feels is not. I don't know,
but but that is lost at this point in the
stuff that we've seen, that Zolensky dvance or Trump WrestleMania
in the OVERLA it was crazy. It was crazy. I
will agree with you in that because I saw it
with my own eyes. I don't know.
Speaker 10 (27:52):
Which is just.
Speaker 7 (27:53):
I mean, I actually think they're creating more waste than
they're than they're cutting at the moment, I.
Speaker 3 (27:59):
Want to see. What I want to see is specific.
Show me what you've cut. Show you know. We all
know that this waste. There's no question about that. There's
waste in the federal government. Would you agree with that?
I hope? Can we agree? Sure? So if Elon Musk
or if William Proxmyer was the ghost of William Proxmyer,
who was a Democratic Senator from Wisconsin who used to
(28:22):
basically every year rail against that stuff if they if
they can, whoever it is, gets it out, Let's get
it out because I want my tax dollars to go
for to defend the country and to help people who
need help. Is that too much to ask?
Speaker 10 (28:38):
No?
Speaker 7 (28:38):
But I think bringing in somebody who knows absolutely nothing
about how you know, the government runs and having him
take a sledgehammer to things rather than a more you know.
Speaker 11 (28:52):
Scout right.
Speaker 3 (28:54):
Well, I'm saying I have said that. But what I
want to see is I want to see results. I
want to see results, specific results. Susan, great call. I
got to keep rolling here though. Okay, you got your
time of the night. Okay, and you get it awesome.
Thanks all right, let me I want to get Jim
in here. Jimmy've been very patient. Gets you in before
(29:14):
the break, right ahead.
Speaker 8 (29:15):
Jim, And thanks for getting me in before the break.
Thank you for taking my call. So lots of really
good h feedback here. So as hard as I try
to avoid the invest commercials, I still end up hearing
enough of them that I'm an actual expert on stock market.
So here's the deal.
Speaker 9 (29:39):
It's it's rocket science, but you don't have to be
a rocket scientist. In order to use it and understand.
Speaker 8 (29:44):
First of all, there's risk involved. You're supposed to be diversified.
Your diversification is supposed to be based on your adversity
to risk. And my this is my personal observation. When
securities go up, come on of these go down, and
generally speaking, when securities go down, commodities go up. So
(30:07):
you know it shouldn't You shouldn't have so much money
in there that in any way, in a way that's
gonna really hurt you. So I don't think you should
be pulling money. I don't understand why people are pulling
money out of there, but I don't understand everything about
So that's my observation.
Speaker 3 (30:24):
Look, I think we would agree panic selling is not
a good thing. Okay, anybody who's who panics and gets scared.
You can't be afraid in the market. You got to
say to yourself, Okay, bad day, let's try to see
what happens. I think there may be more bad days,
but I'm staying with the market because that over my lifetime,
(30:45):
you stay, you stay, and you buy, and you you
invest when you can on the downside. But but I
just think that this has been a really rough couple
of weeks beginning with the Zelensky meeting, and and it's
been a rough tent It's been a rough ten days.
Frankly for the first ten days of March after the
(31:07):
Zelenski meeting on the twenty eighth, been a top bunch
of tough days for this administration. And they came in
with wind at their back, and I think that wind
is slowly but surely swinging in the other direction. And
for this to happen this quickly, they better get their
act together too.
Speaker 9 (31:28):
Well. I agree with you on the wind, I I agree,
but I disagree with you. Better get their act together
because I think the United States is by far the strongest,
most wealthiest, productive country in the world. And I think
he's just trying to introduce everyone else to that idea
(31:50):
and they're not taking it very well. But eventually they will.
We'll get through to them, and then we will re
take our eat.
Speaker 8 (32:01):
With the right hand.
Speaker 5 (32:02):
Now.
Speaker 9 (32:03):
But I just I just think that people, he's you know,
he's just establishing his you know, his power. He's letting
everybody know I'm the boss.
Speaker 6 (32:14):
Now.
Speaker 2 (32:15):
Well, I don't like it if you don't like.
Speaker 3 (32:17):
It, as long as long as you win as long
as you win to fight you it can be the
toughest guy in the block, but you got to win
every fight, Okay. And I think that, Look, i've made
my point here. I think you've made yours. And I
think that it's going to get a little choppy. It's
going to probably get more choppy before it gets smooth.
And in the meantime, you take a day off the calendar,
(32:38):
a day off the calendar, and the Republicans are wasting time,
in my opinion.
Speaker 9 (32:42):
Something else.
Speaker 8 (32:42):
I'll tell you that. I just found out Canada started
the tariff thing by putting a twenty five percent tariff
on Chinese made electric cars about a year ago.
Speaker 3 (32:52):
Yeah, they've been in a fight. China and Canada have
been a fight as well for on a number.
Speaker 8 (32:56):
Of so they don't really have too much. They don't
really have too much mean to complain about tariffs.
Speaker 11 (33:02):
All right, I gotta go, all right, thank you, Jim,
have a great night.
Speaker 3 (33:05):
We'll be back on nightside right after the break. I
got some call. If you want to, I get you
in six one, seven, two, five, four ten thirty six
one seven, nine, three, one ten thirty Back on Nightside.
Been an interesting conversation. A lot of smart people in
my audience tonight, whether you agree or disagree with them,
people are bringing their a game, which is well we
ask you to do here on Nightside.
Speaker 2 (33:26):
Now back to Dan Ray Mine from the window World
Nightside Studios on WBZ News Radio.
Speaker 3 (33:34):
All Right, folks, all of a sudden, couple of folks
dropped off here, feel free. I would love to know.
I get concerned about the stock market. If you're a
Trump supporter, did you expect this. It's been a rough
ten days from the moment of the Zelensky meeting in
the Oval Office. This president, I think at this point,
(33:58):
has spent a lot of political capital, and I'm telling
you that, uh, it's the hounds are going to turn
on him real quickly.
Speaker 2 (34:07):
Here.
Speaker 3 (34:07):
He's got uh, he's got a debt ceiling vote coming
up later this week. There's there's a lot on his plate.
And I think that whether you're a supporter or not,
you're gonna look at him a little differently. He I
mean just from last when you when you go back
(34:28):
to what last Tuesday night. Uh, he looked in pretty
good shape at the Congressional speech, the speech to the
Joint Session of Congress today. This was a rough day
for the administration. Six six, seven nine. Going to go
(34:49):
to Mike in Beverly. Next, Mike, you're next on nightside.
Speaker 5 (34:52):
Go ahead, Mike, Hey, Dan Hawaii.
Speaker 11 (34:56):
Can hear me?
Speaker 3 (34:57):
I can hear you? Find Mike. I know you're support
order of President Trump from a prior phone calls.
Speaker 1 (35:04):
Yeah.
Speaker 11 (35:07):
Then he's fifty days in. Then five oh, fifty days in.
I mean one thing quickly, I'm a chip sacked. Why
we like that, Lady Biden spent taxpayer money to fund
a business for that ship sack, And that's why Trump
wasn't changing. He isn't want to use taxpayer money to
(35:28):
fund a private business. That's what that was about, which
I support. Okay, Okay, that was that about.
Speaker 3 (35:36):
How do you feel after the performance of the stock
market in the last ten days.
Speaker 11 (35:41):
It's a correction, then it is what it is. Then,
I mean my heroes up and then down. You know,
I mean, I get it. You know it's a correction,
and I've watched people today.
Speaker 1 (35:51):
I get it.
Speaker 11 (35:51):
Don't freak out. He's fifty days in. Joe Biden left.
Speaker 1 (35:55):
Us in a mess.
Speaker 11 (35:56):
He would blow money out like water, So like, how
can it you know, just fifty days. He's not more
than fifty days? Is binding four years?
Speaker 4 (36:06):
Don't panic.
Speaker 3 (36:08):
I'm not panicking. I'm not panicking. I'm not asking questions.
I'm asking questions. That's what I do for a living.
I asked questions again.
Speaker 11 (36:17):
But the thing, like the thing was like totally like
he was as like went off the rails and Joe
Biden have the same.
Speaker 10 (36:26):
Wait.
Speaker 3 (36:28):
The Zolensky situation was the result of bad staff work, okay,
because Zolensky never should have been invited to the White House.
If if there was even an inkling that that meeting
was going to blow up, You've never seen.
Speaker 11 (36:47):
I know, but Dererey had a deal already lying up
just to sign. They just wanted to do a correct
first thing in the front.
Speaker 3 (36:55):
You know what I'm saying to you, and I don't
think you're you're hearing me, is it was bad staff
work on the Trump administration that never should have happened.
Zelenski never should have been invited to the White House
until it was signed, sealed, and delivered. And you don't
freelance in front of the media in the Oval Office
and have a meeting devolved to what that what that
(37:19):
was that's bad staff work. All right, Mike, I got
one more. I'm gonna give you. Thank you much, have
a good one. Let me go to Jim and hide park. Jim,
you are next on nice. I go ahead, Jim.
Speaker 1 (37:30):
Hey, thanks there. I enjoy your prokrew very well. But
I got one problem here, and.
Speaker 3 (37:36):
I was just you just got one problem, come on,
good with this one.
Speaker 1 (37:43):
I have a lot furthermore. But I was always too
to follow the money, mister muss is fine. Uh what
was that about fifty so many thousands of people? And
he's often him twenty five thousand dollars to quit the cut?
Just where is that money coming from? With the coming
(38:05):
in the way it is?
Speaker 3 (38:06):
Yeah? Know what he what he said was and I
don't I don't know where that figure of the twenty
five thousand came from. Remember, initially they said, if you
choose to resign from office, you will be you will
be paid through September. Now, knowing the federal the average
federal salary in Washington, that's a lot more than twenty
(38:27):
five thousand dollars, Okay, So I mean it's it's it's
probably more like seventy five thousand, and what they didn't
do was they should. So if you're some sixty nine
year old old employee and you're ready to retire, why
not take take the puye out? They should have said,
(38:51):
it should have been. It just wasn't done well.
Speaker 1 (38:57):
He did out understood if you took a buyout, you
couldn't get unemployment. Is that correct?
Speaker 10 (39:06):
No?
Speaker 3 (39:07):
I don't think so.
Speaker 5 (39:08):
You might be.
Speaker 3 (39:09):
You may be right, but it would seem to me
that before I would take a buyout, I would want
to know, you know, depending upon your circumstances. If I
had another job lined up, I wouldn't worry about unemployment.
But if I was taking a buyout, uh and didn't
have a job prospect lined up, you bet I've contributed,
you know, would have contributed to the unemployment fund. So,
(39:31):
Jimmy Ray's good questions I don't have. I don't have
all the answers, But do me a favor. Keep calling.
I'll give you more time next time. Thanks for calling. Okay,
keep calling because you made some really good points. And
there's a lot of this stuff which I don't know
the answer to, and I want to know the answer to.
I want to know who are these people? Yeah, that's it.
(39:52):
We've been we've been told a lot of stuff and
we haven't represented with a lot of evidence. That troubles me,
that worries me.
Speaker 1 (39:58):
Okay, Okay, talk to you soon.
Speaker 3 (40:02):
Thanks. Okay, we're gonna get Lola in here from San Diego. Lola,
I can give you only about a minute, but boy,
it's good to hear your voice.
Speaker 10 (40:09):
How you doing, Wow, Dan, Well, everything's the same as
it was before I left. But we're talking about, you know,
not what's going on in Watertown, but what's going on
in the country. So, yep, a couple of couple of
quick things. We had all these beautiful factories in the
North East corridor and they moved him to the south
(40:32):
because the labor was cheaper. So all the cotton mills
went to Alabama. And then they figured out it's cheaper,
bigger profit margin to go to Mexico.
Speaker 3 (40:45):
Yep.
Speaker 10 (40:45):
So the greedy, greedy CEOs and CFOs of the United States.
Speaker 3 (40:53):
Lola, I got ten seconds for you. You got to
finish in ten seconds.
Speaker 10 (40:58):
Well, you were talking about all the businesses going to Mexico.
That's why.
Speaker 3 (41:03):
Now okay, well we'll see, we'll see, Lola. I flat
out of time. I got a run. Thank you so
much for calling. We're done for the night. Rob Brooks,
great job, Marie, a great job. All the callers, all
the listeners, all dogs, all cats, all pets go to heaven.
That's my Pelle, Charlie Rays, who passed fifteen years ago
in February. That's all. Your pets are our past. They
(41:23):
loved you and you love them. I do think you'll
see them again. I hope to see Gandemore night at
Night's side.
Speaker 1 (41:28):
Everyone.
Speaker 3 (41:28):
Thanks so much for listening. Have a great Tuesday. Everyone.
I'll be on Facebook in just a couple of minutes.
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