March 10, 2025 • 39 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
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
It's Nightside with Dan Ray.
Speaker 2 (00:03):
I'm telling you easy Boston's Radio.
Speaker 3 (00:07):
Willa was an ugly day on Wall Street today. It
just was an ugly day. There's just no way to
look at it. The stock market has been up and
down for the last I don't know, at least the
last three or four weeks, has had some big days,
but generally those are recovery days, and then the next
(00:28):
day it gets worse. Today was the worst on the
dal Jones was down two point zero eight percent, let's
just call it two percent, the NASDAC down and even
four percent. That's what they call the tech heavy at
S and P five hundred down two point seven percent.
So I don't know how far we have to go
(00:49):
back to find a worst day at the stock market.
But the irony is that whatever was going to happen
today probably became worse because of a couple of questions
that the President dealt with yesterday. He was on one
of the Sunday morning talk shows and he was asked
(01:12):
about the possibility of a recession, and you could see again,
I don't know who prepped him for the well, it
certainly should have anticipated that. So let me play the
SoundBite which probably was heard around at least Wall Street.
Cut number twenty. Rob, let's go to that.
Speaker 4 (01:29):
Got the Atlanta Federal Reserve, say we're going to have
a contraction in the first quarter. Look, I know that
you inherited a mess and.
Speaker 3 (01:35):
I've only been here too far.
Speaker 4 (01:37):
Are you expecting a reception this year?
Speaker 5 (01:41):
I hate to predict things like that. There is a
period of transition because what we're doing is very big.
We're bringing wealth back to America. That's a big thing,
and there are always periods of it takes a little time.
It takes a little time, but I think it should
(02:01):
be great for us. I mean I think it should
be great.
Speaker 3 (02:05):
Well, it wasn't great today, mister President, that's for sure.
Also again, I just think the normally Trump is much
more adept at answering questions. This is one other SoundBite
from that interview. This is a cut number twenty one. Again,
I think that these are the two answers that shook
(02:28):
an already shaky stock market, and it may continue tomorrow.
Cut twenty one.
Speaker 4 (02:32):
Please, Rob, before you came into the Oval office the
first time, you were a very successful businessman, very successful
real estate executive, and a lot of people said, oh,
this is the business president.
Speaker 3 (02:43):
This is it.
Speaker 4 (02:43):
He's watching the stock market. He knows all about you know,
he doesn't want the.
Speaker 3 (02:47):
Market to go down.
Speaker 4 (02:48):
And now we've got tariffs and the market has been going.
Speaker 6 (02:50):
Down, well not much.
Speaker 3 (02:52):
I mean, in all fair you.
Speaker 4 (02:54):
Said, look, we're going to have a disruption, but we're
okay with that. Is that what you meant the stock
market going down as the disruption? What are the disruptions
were you alluding to?
Speaker 3 (03:03):
Look, what I have to.
Speaker 5 (03:03):
Do is build a strong country. You can't really watch
the stock market. If you look at China, they have
one hundred year perspective. We have a quarter who we
go by quarters. That's true, and you can't go by that.
You have to do what's right. What we're doing is
we're building a tremendous foundation for the future.
Speaker 3 (03:21):
Tremendous foundation. Well, there were a lot of people who
were watching the stock market today, I'm sure, and I
suspect there were a lot of people who bailed out today.
I'm not giving any any stock advice.
Speaker 6 (03:33):
But.
Speaker 3 (03:35):
If you're in there for the long term, hopefully it
will turn around. But when he said it, well, it
hasn't been much two percent in one day on the Dow,
four percent in one day on Nasdaq, almost three percent
on the S and P. I mean, we haven't seen
a day like this in a long time, and I
(03:57):
think that I don't. I mean, the futures tomorrow are
not looking at some sort of robust rebound, that's for sure.
The rebounds have gotten weaker every time the market has tanked.
So the question is this is the administration going too
(04:18):
fast and too furiously to harken back to an administration
of a few a couple of terms ago, They're cutting
everything they can find. I think that the President has
recognized that and has slowed down a little bit on that.
In terms of the tariffs, Canada now has a new
(04:41):
leader of the Liberal Party, and by virtue of that,
at least for a short term, a prime minister until
an election is held. But the tariffs, we're fighting with Mexico,
fighting with Canada, fighting with China. Doesn't sound to me
as if Canada, Mexico or China are scared or intimidated.
(05:04):
I wish I knew more about tariffs. I think that
they have traditionally been used by folks on the other
side of the isle, presidents on the other side of
the isle, but he slapped him on. He's threatened more.
He got the tariffs. China the other day said that
(05:26):
they were ready for a war with the US, any
type of war. That chilled the market one day last
week as well. So I just would love to just
chat about this. Are you concerned or are you not concerned?
This has had where we are yet, We're ten days
(05:48):
away from the two month mark, and I think that
there's been a lot of action and a lot of activity,
a lot of bluster. I haven't seen much results as yet,
but maybe some of you have. So here are the
numbers six one, seven, two, five, four ten thirty six
one seven, nine, three, one, ten thirty. I thought that
(06:08):
his speech to the Joint Session of Congress the other
night was pretty effective, and I thought the Democrats looked
pretty inept and impotent sitting there with their signs. I
wasn't sure if they thought they were at an auction
or not holding up their signs. But the last few
days have been tough for the stock market by extension,
(06:30):
tough for the country, and certainly tough for this administration.
And I think that he probably couldn't say, yeah, we'll
headed for a recession, whether he thoughts it or not.
But I think we took a big step taught a
reception following his somewhat evasive answer, love to get your
(06:50):
reaction to it. Six one, seven, two, five, four ten
thirty six one seven, nine three one ten thirty. Believe me,
the stock market effects everyone. It's just not the we're
wealthy that are in the stock market. If you are
a union member, uh and you'r uh your four one
k is in the stock market, or any sort of
(07:12):
investment that you might have, Uh, it's affecting everyone. We'll
be back on nightside. Let's get the phone calls going.
Six months, seven two thirty, six, seven, nine, three, one
ten thirty. I think we'll have a little group psychology
for the next couple of hours and let's see where
it leads us. Back on nightside right after this. Now
back to Dan ray Line from the Window World Nightside
(07:35):
Studios on WBZ News Radio. Go to the phone. See
what my listeners think about the stock market today. It's
been a rump, bumpy ride down and it was a
big drop today. Let's go to Tom in West Virginia. Tom,
I'm sure you get some investments in the market what
do you think?
Speaker 7 (07:55):
Yeah, my Ira, I have an IRA. It's down seven percent.
Am I going to sit there and cry spill milk over? No?
And it was a couple of years ago where it
lost almost eighteen percent. However, whatever happened during the Biden administration,
(08:18):
things got better. So I'm not going to sit there
and like, oh my god, I gotta.
Speaker 8 (08:24):
Act that money.
Speaker 3 (08:25):
No, no, no, no, but look, the worst day to
sell is a day after a day like today.
Speaker 7 (08:31):
However, yeah, right, and you know what I'm going on here.
Speaker 3 (08:36):
There's a lot of stuff going on here. Okay, So tariffs,
you got the car, you got all of that, go.
Speaker 7 (08:41):
Ahead, okay, So all right, So here's the point. Canada
they pay one point three percent of their gross somatic GDP,
and they're a member of NATO. For their defense, they're
supposed to pay two percent. They have all kinds of
(09:02):
tariffs on our goods. And what Trump is doing with tariffs?
Listen up very closely, union members. Okay, union members. Remember
when the af of l CIO said back in the nineties,
fair trade not free trade. Hello, union members.
Speaker 3 (09:23):
Hello, Tom, we got it.
Speaker 8 (09:25):
No, no, all right, do be your.
Speaker 3 (09:27):
Favorite Tom, all right, don't try to like take the
microphone away and make a speech, make a conversation.
Speaker 7 (09:32):
That's no, okay, all right, all right, But but anyway,
the point being is what he's doing with the tariff,
they are a negotiating tool. These tariffs are not forever.
And what he is doing is he's basically browbeating Canada
and Mexico. That know, you open your markets to us
(09:53):
for goods that we can sell into your country, and
the goods that you make you can sell into our
country where they are totally tear a free. That is
not a bad thing.
Speaker 3 (10:06):
And but Tom, Tom, let's have a conversation. Let's have
a conversation.
Speaker 7 (10:12):
I'm having Go ahead, Hell, you know you're.
Speaker 3 (10:13):
Making a speech. You make I feel like I'm in
a campaign rally.
Speaker 7 (10:17):
Let's make it.
Speaker 3 (10:17):
Let's have a conversation. The other day, the president of Mexico,
I noticed, returned about twenty cartel members who they had
in custody. Now I think the president was asked after
that did he have a response, And I think that
he should have taken advantage of that and said, okay,
(10:40):
that's a sign of good faith. Let's let's get let's
get a conversation going. And I think that if he
wants to play hardball with some of these countries, I
think that's, you know, fine, but you also have got
to recognize when one of them says, hey, we'll do
this or we'll do that. And I just think that sometimes,
(11:01):
you know, half a loaf is better than none. So
again I agree, will hopefully move us towards towards a
faaroh marketplace. Okay, but this and what what?
Speaker 7 (11:18):
Okay? So what you're telling me is the Mexican president
was a pragmatist that gave up twenty cartel members. I
don't know how many cartel members are there, Okay? And
do I support okay, do I support this current president
saying the Mexican drug cartels are terrorist organization? I fully
(11:38):
support that. I agree, and it is okay. So if
I look back on my history as a union member,
as a member of the ib E W that totally
opposed NAFTA, what did Barack Obama say as a presidential
candidate in two thousand and eight to a crowd at
the a f of L c IO convention that summer,
(12:01):
he said, the first thing I will do as president
is reno renegotiate the NATA trade agreement. NAFTA destroyed manufacturing
unions in this country.
Speaker 3 (12:15):
Might have no question about that. And Bill Clinton, thank you,
and Newt Gingridge pardon me for interrupting, But Bill Clinton
and new Gingrish, both Democrats and Republicans, were on board
with that. If George Bush had been president, the Democrats
would have risen up and stopped NAFTA. They didn't because
(12:37):
they was a Democratic president and it was a disaster.
Speaker 7 (12:42):
Yes, And in need I remind you that people like
John Curry said that if we have most favored trading
with China, they will become more of a democracy, less
likely to build up the military.
Speaker 3 (12:58):
Okay, all of that is true. That all of that
is true.
Speaker 6 (13:02):
Okay, look, maybe maybe.
Speaker 3 (13:04):
Six weeks from now the market will have recovered everything, uh,
and that that everyone has agreed on fair trade. And
at that point, when that happened six weeks from now,
I want you to call me back and say, Dan,
I told you so. But I think right now, seeing
the reaction of the market today, we are gonna have
I think we're in for some chopping waters. That's all.
(13:25):
I'm glad to get your perspective, but I got to get.
Speaker 7 (13:28):
The book, all right, But what one real quick point. Okay,
we were told to accept mandates of electric cars. It
didn't work, and we were laying a guilt trip on that. Okay,
so now I'm going to lay a guilt trip on
all the people. Have faith in Trump. I think he
has the nation's interest at heart. Thank you to see
(13:50):
what that.
Speaker 3 (13:50):
Thanks Tom, appreciate it. Let me go next to Bill
and Danvers. Bill, you were next on nights. I get
you here before the break at the bottom of the hour.
Speaker 9 (13:56):
Go ahead, Bill, Ye yeah, I'm not.
Speaker 6 (14:00):
Particularly ready to jump off any buildings or bridges. I mean,
I turned fifty this week or this past week, and
I probably got a while to go. I don't particularly
pay attention. And the way I look at it, if
it goes down another even ten percent, I can grab
more and on the upswing whenever that is, I'll be
better off, you know, dollar cost averaging.
Speaker 3 (14:21):
So whatever the fund's doing, and absolutely.
Speaker 6 (14:27):
And and you know it takes twelve to eighteen months
to really move to your car. I think Wall Street
maybe it's a little over. Maybe they're following the press
and the hype, because I mean, the mother's milk of
stocks is corporate profits. And if you look at the
last few quarters, most of corporate America looks pretty healthy.
Now they go a quarter or two and despites into
(14:50):
their profit margins, then I can see a reason for correction,
because again, you.
Speaker 8 (14:56):
Know, the margins on is good.
Speaker 6 (14:57):
You know, so I'll wait and see twelve day months.
Speaker 3 (15:00):
You know what would what I see happening. What I
see happening, Bill is this morning, I'm reading my Boss
and Globe and there's a story about some brewery in
northern Maine that has just had the rug pulled out
from underneath them, uh as a result of the tariffs.
They were they were going to open up exporting their
their beer uh to to Canada, and the rug was
(15:25):
pulled out from underneath them. Bad timing, I get it,
And it's a tough time for craft beer companies. But
you know that the Globe and the Times, and maybe
not so much the Washington Post anymore, but the Globe
and the Times are going to find every every industry
which has been is going to be hurt by the tariffs,
(15:45):
and they're going to focus on them. And I just
think that the question is is the Trump administration trying
to do too many things too fast, too quickly and
to a larger extent, are they biting off more that
they can shoot?
Speaker 6 (16:02):
Well, we'll find out. I mean I'm not. I mean,
you know, he is doing what he said he was
going to do. And I think momentum is almost you know,
everything to do with degree you pull back. I mean,
the guys that do the articles aren't going to give
any more leeway, you know, if you know, if you
if you hesitated and you pulled back for a little bit,
(16:23):
the New York Times and the Globe's still going to
write stories. I mean, you know, and in the legacy
papist you know.
Speaker 3 (16:29):
So yeah, no noticed. And I think I think you're
right on that. All I'm just saying is that I
think he pulled the leash in a little bit on
Elon Musk and basically said we're going to start to
use more of a scalpel than a sledgehammer. But I
just thought he mishandled that question yesterday when I heard,
(16:52):
I was actually watching that, and when he said it,
I thought to myself, well, I really don't like to
comment on things like that. Well you may not like
to comment. And it had just been asked by a
friendly reporter, a question which I think is a software question,
and he whiffed on it.
Speaker 6 (17:08):
But you know, the thing I'm nervous about a little
bit is, you know, you look at the job numbers
in the last two years. Now I don't, and you
pay attention, Dan, I'm sure you caught this. The job
numbers come out and they say, well, two hundred thousand jobs.
Speaker 8 (17:21):
Are created this month.
Speaker 6 (17:22):
But then if you look at the months before that,
almost every time they were revised down. Yes, so yep,
you know.
Speaker 3 (17:30):
It wasn't I think it was. I think it was
one fifty this month, so it wasn't.
Speaker 6 (17:35):
Even Yeah, we got yeah, but I just threw that
out there.
Speaker 8 (17:38):
I knew this, but was I just rought it?
Speaker 3 (17:40):
You're absolutely right. Yeah. And now again a lot of
that was happening while Biden was president, so maybe, uh,
you know, maybe the fix was in. I don't know.
Speaker 6 (17:51):
Yeah, so I think that stuff has to be cleaned up.
But by doing that and and straightening some of that out,
we're gonna, you know, you're gonna you're gonna see it.
It's like in the restaurant business, you know, and you
uncover things that are dirty in the operation, you know,
to get it back up and streamline things. It's uh,
you know when new management comes in.
Speaker 2 (18:11):
You know?
Speaker 3 (18:11):
All right, Bill, I got you in before the ten
thirty news. I appreciate you taking time. Thanks my fight.
Talk to you so good night. Six one seven two
five four ten thirty. That's the only line that is
available if you're dialing right now and get you in there.
The other lines will full up. So I will tell
you six one seven two five four ten thirty. Did
the stock market rattle you today? If it didn't, you
weren't paying attention. And what does it really mean in
(18:34):
the long run? Is this just a bump in the
road or a ditch on the side of the road
and the economy will be back tomorrow. Well I don't
think so. But at what point is the president He
may be thinking about the stock market tonight, but he's
going to start to think about polls because this is
(18:54):
not a president with a mandate. He's a president who
won seventy seven to seventy five million million votes. So
he won by a couple million votes, but it's not
a mandate in the classic sense of the term. Back
on Nightside, if you want to disagree, feel free bring
it on. The ladies have been pretty quiet tonight, so
(19:15):
I invite them just so they can understand that they
have more than welcome to joining as well. They might
be a little close. The good news last week was
the gas prices had dropped a little bit, which was
a pleasant surprise to me. On Sunday, there was no
emphasis on that we'll be back on nightside after this
news break at the bottom of the hour, You're on
(19:39):
Nightside with Dan Ray on WBZ Boston's news radio. Just
to put this in a little bit of perspective, when
the president was elected on November fifth, twenty twenty four,
the market was about forty two thousand, one hundred and thirteen.
It's now just about forty two one hundred and thirteen,
(20:03):
so whatever gains. And by the way, the market did
top out, let me see if I can find out
what date it was. It topped out on February fifth,
the market was up to forty five thousand, so it's
lost almost three thousand points. And well, it's virtually lost
(20:27):
three thousand points off of the off of the high,
which was just a month ago, a little over a
month ago. So this is not going to cost him
in the polls. Among those who don't like Donald Trump.
(20:50):
It will cost him in the polls. Amongst those who
voted for him but weren't necessarily all on board, they
liked him as the alternate, and that's where the political
capital tends to slip away, and for any president, that
is a problem. Paul in Pennsylvania, Paul, you're next on nights.
(21:10):
I appreciate you. You're taking the time. Go ahead, Paul, Yeah.
Speaker 8 (21:14):
Down, he's trying to wish you an earlier save Patris Stay.
Speaker 3 (21:17):
Hey. Thanks very much, Paul, if you celebrate right back
at you, and what I wanted.
Speaker 8 (21:24):
To say it was you brought up a really good
point about the people that voted for Trump. But Trump
is like the first presidents Glover Cleveland, to win, lose,
then win again. So I don't know if he I
know he's trying to do it's best in the country.
I know he's not necessarily were worried about the Republican
Party and what happens in twenty twenty eight. Maybe he is.
I don't know, but he's got to be worried.
Speaker 3 (21:45):
Well, what he's got to worry about is what happens
in twenty twenty six, which is now about twenty months away.
I mean the midterm elections. He's got to worry about
a razor thin margin in the House, and he's got
a fifty three forty seven advantage in the Senate. If
(22:06):
he loses one or both of those majorities, the last
two years of his presidency won't be a lot of fun.
I mean, yes, I'll be then, Yeah, of course you will.
And at that point you can forget. I mean, that
sets the stage for the Democrats to take over in
twenty twenty eight. I mean, the Democrats right now seem
(22:29):
to be lost, but in the last week or so
things have been very good for the Democrats, and he's
spending political capital here and now. Maybe this will pay
off in April and May or June and July. But
I'm telling you, I think I don't think the end
of the rough ride is over here. I'm not predicting
(22:51):
what the market's going to do tomorrow. I would be
a fool to do that. I'm not pulling the money
that I have in the stock market. I'm not pulling.
I tend to to hold. But that's not my advice.
You people got to do what they gotta do.
Speaker 8 (23:05):
But at some point, yeah, go ahead, that's like the
James Carvel just said a few weeks ago. He said
that the Democrats were pretty much dead in the water.
And then U they you know, with this dose thing
or whatever you call it, prompts really yeah, all they
have to do is play possible. He's pretty much hurt
himself and like out of your collars before me, he said,
we'll just have to wait. There's no way for us
(23:26):
to really find out.
Speaker 3 (23:28):
Well, no, I mean, you know, I mean if all
of a sudden, the same way with the Zolensky thing,
I mean, they seem to be making some progress on
the Dolensky uh kerfuffle at the White House. A we
could go Friday where it all you know, fell apart.
Maybe with Zolensky's letter last week and this meeting coming
(23:50):
up in Saudi Arabia, maybe he pulls that rabbit out
of the hat and Zelensky agrees to a cease fire.
Putin agrees to a cease fire, and he it's you know,
a little bit of a bump there. But I'm telling you,
it's been an ugly couple of weeks for President Trump
during a period of time when he should be enjoying
(24:11):
you know that, so called Honeymoon for his case in
the second Honeymoon.
Speaker 8 (24:17):
Well, he's you know, we used to have to put
some faith in him. But like you said it a
few months if things don't go his way, I don't
know always gonna you know this one, but but yeah,
you might have asked you a real quick question off topic,
what Saint Potter's Day coming up? With Saint Potter's date
coming up? I told someone that I know, I thought
in my opinion, I know, supposedly near city is the
(24:38):
biggest one. But when you say per cap as far
as having per capital irishman, that Boston's the biggest one.
Speaker 3 (24:46):
I don't know that for sure. I can tell you this,
but I was talking with the former governor of Hampshire recently,
Chris Sinunu, New Hampshire, of all the states, has the
highest per capita residents who are of Irish heritage than
(25:07):
any state in the Union, including Massachusetts.
Speaker 2 (25:10):
Warner.
Speaker 8 (25:11):
If they'll let a lot of them left Boston, Oh.
Speaker 3 (25:14):
Yeah, I think that's I think that they brought their
heritage with it, that's for sure. Uh. Paul, great to
hear your voice, Thanks very much for calling. Thank you
so much.
Speaker 8 (25:22):
Thanks, thank you very much you soon.
Speaker 3 (25:24):
Bye bye. Let me go from Paul in New Hampshire
to Paul in Dorchester a little closer to home. Paul
in Dorchester. Next on Nightside, Paul.
Speaker 2 (25:33):
Hey Dan, let me make the statement that the Stark
market is driven by greed and fear. It's really not
based on reason or common sense. And to carry away
or drive any further analysis, I think is ludicrous. It's
you say the wrong thing and you can change the
Stark market. Look what happens every time the Treasury Secretary
(25:57):
was changing rates and things started flying.
Speaker 3 (26:00):
It's like, that's that's not the Secretary treasure that's the
Secretary of the Treasury. That's the Chairman of the Fed.
But I understand the point you're making. But it's exactly
the point I made. Was that an inadequate answer by
the President yesterday to what seemed to me to be
a fairly softball question from a friendly interviewer. I think
(26:22):
is driving what happened today on Wall Street. That's all.
And I think that that there's other things that are
factors here. I think people are scared of the tariffs,
which is understandable that his goal is to bring American
manufacturing back to the country back to the USA.
Speaker 2 (26:42):
The add of the deal, I believe, is what's going on.
We're witnessing the art of the deal from Trump's book
in nineteen eighty seven.
Speaker 6 (26:51):
I have seen that.
Speaker 3 (26:52):
And if you're it sounds to me like you're confident
in his ability to make the deal. They think. The
question is, he's got a lot of balls in the
air right now. He's got the Zelinsky Ukraine one situation. Right,
He's got the tariffs with not only Mexico and Canada
(27:14):
but also China. And you got the Democrats. Well, the
Democrats are going to be the Democrats. Look when he
gave the address to Congress, the Joint Session of Congress
last Tuesday night, the Democrats literally looked impotent. I mean
they were sitting there. It looked to me like they
(27:34):
might have been at a charity auction. You know, we're
holding up their paddles. They've done little. The only Democrat
who made any headlines was the guy that got arrested,
and because it were not arrested, the guy who who
was thrown out of the House and was censured by
the House the next day, in which ten Democrats actually
joined all the Republicans, but it just.
Speaker 2 (27:58):
To he ripped up his statement.
Speaker 8 (28:01):
Nobody.
Speaker 2 (28:02):
There was no Pelosi ripping up the constitution behind.
Speaker 3 (28:06):
Him, right, no doubt. And look, this guy is in
the rump, rough and tumble. He gives as good as
he gets. I get that, I too late.
Speaker 6 (28:14):
It came.
Speaker 2 (28:14):
Jeffries sees blood and he's like a shock. They go
after every little thing, the price of eggs. They killed
all the chickens and now there's no eggs.
Speaker 3 (28:22):
Oh well, I think it was avian flu that killed
the chickens. I don't think it was Hakeem. Jeffries came.
I'm with you on that, all right, Paul. I appreciate
the levity and the conversation added a little nice touch.
Thanks Paul, Thank you all right, thanks to listening to
(28:43):
Night Side. All right, all of a sudden, the lines
are slowing down here six one, seven, two, five, four
ten thirty six one seven, nine, three thirty. I want
to hear from the Trump supporters and I want to
hear from the Trump detractors. Uh. The stock market is
something that is a huge story today. The numbers are huge,
the losses are huge. Now the market reopens tomorrow, I
(29:06):
can tell you right now, the UH the Dow futures,
they're all down. The futures are down. Uh, so it
isn't like there's going to be a snap back tomorrow.
As a matter of fact, the nastac UH is down
another percentage point. Uh Does it worry you? You could?
(29:27):
It can. You might be worried from your own economic
standpoint if you're in the market, or if you're invested
through your U you know, your your IRA or your
furrow one K. But the question is are they going
so fast, so quickly, trying to do so much? Are
(29:50):
they to the point where they are the victims of
their own success, that that that they think they can
do anything? I think again, you know, the pace here
has been discomforting. I was going to say frightening, but
I'll say discomforting. Back on Nightside right after this. Now
(30:10):
back to Dan Ray live from the Window World Nightside
Studios on WBZ News Radio. All right, lines filled up,
let's keep robling. I'm going to go to kenon Walting
Ken next on Nightside. Your thoughts go right ahead? Ken?
Speaker 6 (30:25):
Hi?
Speaker 8 (30:25):
Dan?
Speaker 1 (30:27):
Yeah, you know, my major thought, which I think ties
into what you're talking about, is, you know, if us
MCA was such a great deal. Uh, you know the
biggest deal we ever made, you know why, and it
was with Canada and Mexico. Why do we have to
do anything at all? Didn't we have a great deal
back then? And if we still have to make adjustments,
(30:50):
why not do it like he did you know, five
years ago. It doesn't He did it in a non
dis rat you know, independent of how good the deal was,
it was certainly non disruptives.
Speaker 8 (31:01):
You know.
Speaker 1 (31:02):
I think you're right, he's kind of going crazy here
and it's an overreaction.
Speaker 3 (31:07):
Yeah. Yeah, I think that there's there. I think he's
rolled the dice here, and you know, if it all
works out, he's going to look back and say that's great.
But boy, I'm telling you right now, it suggests to
me that there's that there's problems. The market reaction today
(31:31):
is the first time that that I thought to myself,
there's a there's we Houston, we have a problem. Yeah.
Speaker 1 (31:37):
Yeah, Well I heard that Elon Musk lost twelve billion
dollars today of his own out of his own pocket.
Speaker 3 (31:44):
Yeah, let's let's see what the boy say. How much
does he have he's got? I think I read four
hundred billion, So yeah, let's seeah, okay, so three percent
of four hundred billion, that'd be twelve billion. Now that's
about right because when you when you look at the numbers,
you got the Dow was down to something and the
(32:05):
Nasdaq is down. For he it was about a three
three percent. So yeah, twelve billion would have been his
his hit. I don't think any one in my audience
other than Elon Musk lost twelve billion dollars today.
Speaker 1 (32:16):
That's probably not yeah, but I you know, I've been
trying to think, you know, what is Trump thinking? I mean,
the only thing I can think of is, you know,
perhaps you know, he just thinks whatever he you know,
he said he was going to solve you know, the
Ukraine War in twenty four hours and you know, eggs
(32:38):
we're going to go down in one day. He I
think he thought, you know, he was going to threaten
the East tariffs and Mexico and Canada would give him
whatever he wanted. I don't know, I'm just guffing, by
the way.
Speaker 6 (32:50):
I have no idea.
Speaker 3 (32:51):
Yeah, well, we're the big we're the big dog on
the block. But the Mexican chihuahua and the Canadian wolf
found snapped that get him?
Speaker 8 (33:01):
Right?
Speaker 1 (33:02):
Right, they've got pride.
Speaker 3 (33:03):
As well, you got it? Yeah.
Speaker 1 (33:07):
Yeah, And then I think he was a little off.
You know, I think if Jake Tappert had asked him
maybe the same questions that Maria Bartiromo. Yeah, I thought
maybe he maybe he was a little too relaxed, and
that's why he was off his game a little because
he was with a friendly interviewer.
Speaker 2 (33:23):
Yeah.
Speaker 3 (33:24):
Well, yeah, I guess. You know, the big power hitter
who step up to the plate and the picture has
him down. You know, there's a two or two count.
The guy sitting there expected to fastball. The pitcher throws
a dinky change up over and the guy's called out.
You know, it's like he's just looking for a wrong,
wrong pitch here. I don't know, but it did.
Speaker 1 (33:42):
Have an impact today.
Speaker 3 (33:45):
Thank you.
Speaker 1 (33:45):
Can't appreciate your call.
Speaker 3 (33:46):
As always, we'll talk soon. Okay, thank you much. Let's
keep rowling. Here are going to go to We're we're
going to go next here. Yeah, Rick is in Dover. Rick,
you're next on nice side.
Speaker 7 (33:55):
Welcome, Hi Dan, Hi Rick.
Speaker 3 (33:58):
Well I get you and at least one more in
here before we close up for the eleven o'clock news.
Speaker 10 (34:03):
Go right ahead, So what's the main topic, Tody, you
listened to the show. Yes, I know it's about Trump,
but I wasn't sure if it was about him making
friends with all of our allies over the country or.
Speaker 3 (34:20):
We're talking we're talking about the drop rick. You know,
we've been talking for the last hour about a pock
market in the stock market, as well as the tariffs,
uh and as well as whether or not you know,
with with Doge the administration has taken on too much
(34:41):
if they if they're bitten off more than they can chew.
I know you're not a Trump supporter, even though you're
lo in Dover, but was considered a Republican stronghold. So
this is a great opportunity to take your best shot here.
Speaker 10 (34:54):
Well, you know, I mean, he's definitely taken on more
than you can show, because I don't think he thinking
these things out. I mean, we don't have any allies anymore.
And you know when you I don't know, I mean
unless he's playing a game of selling short every month,
you know, and the rich people making more money that way.
(35:16):
I don't see anything too popular for anybody else that
has a retirement fun with this guy playing games with
stock market uncertainty.
Speaker 3 (35:25):
Yeah, I don't. I don't think his focus. I don't
think his his focus is on short selling. I think
his focus is on how he believes where he wants
to take the country. And we do have allies. That's
a little bit of an overstatement there. We have allies
in Europe, we have allies in the Middle East, we
have allies down Under, and we have allies in Mexico
(35:47):
and Canada. Where you have a family disagreement in your family,
who's everybody always on the same page?
Speaker 10 (35:53):
Yeah, yeah, but they all you know, I mean, the
whole European Union decided that they weren't going to invite
him to their mut.
Speaker 3 (36:00):
They they had an emergency meeting. Come on, Rick, don't
mischaracterize something. Had an emergency meeting. Uh and uh and
and Zelinsky flew from Washington to London and they were
going to step into the breach all of a sudden.
Let's see what, let's see why the Zolensky kerfuffle of
ten days ago that may be getting close to getting resolved. So,
(36:23):
you know, don't as they.
Speaker 10 (36:25):
Say anything that happened there. The guy's kind of desperate.
You know, what's he gonna do?
Speaker 3 (36:32):
Well, if if you think that, if you want to
write that off and as just as the act of
a desperate guy, I think that that Dylensky has stood
face to face with Putin for three years in a
tough set of circumstances. I wouldn't call him desperate.
Speaker 7 (36:46):
Rick.
Speaker 10 (36:47):
I want to get one the money, all right, I
got you, Thank you, thank you much.
Speaker 3 (36:52):
Call Lulureli. Give you more time, Thank you much. Let
me get the war on, Warren, you get the last
shot at this, will continue this into the next hour,
Go right ahead, Warren.
Speaker 9 (37:01):
Oh yes, yeah, Hi Dan. Yeah.
Speaker 11 (37:05):
Whenever there is bad news, Americans get nervous, and that's
what's happening here with the stock market. And you know,
whenever you know, they don't like Trump making an you know,
warring with Canada or Mexico or or even China. All
(37:26):
of this should have been should be done behind the
scenes quietly. You know, you have the people working working
for the president, working behind the scenes and trying to
get better deals.
Speaker 9 (37:41):
But you know, he's bombastic, and he's his ego is
you know that.
Speaker 11 (37:48):
Of New York City.
Speaker 9 (37:49):
So yeah, but that's that's.
Speaker 3 (37:54):
What we have. Well. I think I think he's probably
doing too much, too fast. I mean I haven't even
mentioned the the flurry of executive orders obviously, which which
are very much related to DOGE. There's a lot of
people whose lives have been genuinely upturned. Uh. There, there
(38:17):
were some of these things. They were talking about. The
five people at the Kennedy Library who lost their jobs.
They will returned the next day, so no harm. Yeah,
I mean a little bit of eggs for five people.
But when you start closing you know, an entire departments.
Uh yeah, this.
Speaker 9 (38:34):
Yeah, I mean, yeah, he's a bullock tier shop right now.
And what you know what I thought he was going
to do is I thought he was going to do
all the low hanging groups, you know, like you know,
like what's in the port book every year when they
do a budget and all these things come out, Like
(38:55):
what's the intent on in its foolishness? I thought, you
go go there and take.
Speaker 11 (39:01):
The all hanging throuit and just you know, get rid
of that.
Speaker 3 (39:04):
Well, he's fired about, you know, to to use the
football metaphor, he's fired about four Hail Mary passes and
so far none of them.
Speaker 7 (39:13):
Yeah, completed.
Speaker 9 (39:16):
Drink men going back on the on the on the
one and trying to throw at ninety nine yards.
Speaker 3 (39:21):
You got it, you got it war and I got
you none of the wire. Thanks, my friend, We'll talk.
Speaker 9 (39:25):
Thank you, Thank you so much, appreciate it.
Speaker 3 (39:27):
Got some open lines six one, seven, two, five, four
to ten thirty or six one, seven, nine three one
ten thirty. Let's talk about it. I mean, if maybe
you think nothing's going on, or maybe you think something
big is going on, I tend to be in the
somewhat big category, uh, in terms of what's going on.
Join the conversation. Coming back
It's Nightside with Dan Ray.
Speaker 2 (00:03):
I'm telling you easy Boston's Radio.
Speaker 3 (00:07):
Willa was an ugly day on Wall Street today. It
just was an ugly day. There's just no way to
look at it. The stock market has been up and
down for the last I don't know, at least the
last three or four weeks, has had some big days,
but generally those are recovery days, and then the next
(00:28):
day it gets worse. Today was the worst on the
dal Jones was down two point zero eight percent, let's
just call it two percent, the NASDAC down and even
four percent. That's what they call the tech heavy at
S and P five hundred down two point seven percent.
So I don't know how far we have to go
(00:49):
back to find a worst day at the stock market.
But the irony is that whatever was going to happen
today probably became worse because of a couple of questions
that the President dealt with yesterday. He was on one
of the Sunday morning talk shows and he was asked
(01:12):
about the possibility of a recession, and you could see again,
I don't know who prepped him for the well, it
certainly should have anticipated that. So let me play the
SoundBite which probably was heard around at least Wall Street.
Cut number twenty. Rob, let's go to that.
Speaker 4 (01:29):
Got the Atlanta Federal Reserve, say we're going to have
a contraction in the first quarter. Look, I know that
you inherited a mess and.
Speaker 3 (01:35):
I've only been here too far.
Speaker 4 (01:37):
Are you expecting a reception this year?
Speaker 5 (01:41):
I hate to predict things like that. There is a
period of transition because what we're doing is very big.
We're bringing wealth back to America. That's a big thing,
and there are always periods of it takes a little time.
It takes a little time, but I think it should
(02:01):
be great for us. I mean I think it should
be great.
Speaker 3 (02:05):
Well, it wasn't great today, mister President, that's for sure.
Also again, I just think the normally Trump is much
more adept at answering questions. This is one other SoundBite
from that interview. This is a cut number twenty one. Again,
I think that these are the two answers that shook
(02:28):
an already shaky stock market, and it may continue tomorrow.
Cut twenty one.
Speaker 4 (02:32):
Please, Rob, before you came into the Oval office the
first time, you were a very successful businessman, very successful
real estate executive, and a lot of people said, oh,
this is the business president.
Speaker 3 (02:43):
This is it.
Speaker 4 (02:43):
He's watching the stock market. He knows all about you know,
he doesn't want the.
Speaker 3 (02:47):
Market to go down.
Speaker 4 (02:48):
And now we've got tariffs and the market has been going.
Speaker 6 (02:50):
Down, well not much.
Speaker 3 (02:52):
I mean, in all fair you.
Speaker 4 (02:54):
Said, look, we're going to have a disruption, but we're
okay with that. Is that what you meant the stock
market going down as the disruption? What are the disruptions
were you alluding to?
Speaker 3 (03:03):
Look, what I have to.
Speaker 5 (03:03):
Do is build a strong country. You can't really watch
the stock market. If you look at China, they have
one hundred year perspective. We have a quarter who we
go by quarters. That's true, and you can't go by that.
You have to do what's right. What we're doing is
we're building a tremendous foundation for the future.
Speaker 3 (03:21):
Tremendous foundation. Well, there were a lot of people who
were watching the stock market today, I'm sure, and I
suspect there were a lot of people who bailed out today.
I'm not giving any any stock advice.
Speaker 6 (03:33):
But.
Speaker 3 (03:35):
If you're in there for the long term, hopefully it
will turn around. But when he said it, well, it
hasn't been much two percent in one day on the Dow,
four percent in one day on Nasdaq, almost three percent
on the S and P. I mean, we haven't seen
a day like this in a long time, and I
(03:57):
think that I don't. I mean, the futures tomorrow are
not looking at some sort of robust rebound, that's for sure.
The rebounds have gotten weaker every time the market has tanked.
So the question is this is the administration going too
(04:18):
fast and too furiously to harken back to an administration
of a few a couple of terms ago, They're cutting
everything they can find. I think that the President has
recognized that and has slowed down a little bit on that.
In terms of the tariffs, Canada now has a new
(04:41):
leader of the Liberal Party, and by virtue of that,
at least for a short term, a prime minister until
an election is held. But the tariffs, we're fighting with Mexico,
fighting with Canada, fighting with China. Doesn't sound to me
as if Canada, Mexico or China are scared or intimidated.
(05:04):
I wish I knew more about tariffs. I think that
they have traditionally been used by folks on the other
side of the isle, presidents on the other side of
the isle, but he slapped him on. He's threatened more.
He got the tariffs. China the other day said that
(05:26):
they were ready for a war with the US, any
type of war. That chilled the market one day last
week as well. So I just would love to just
chat about this. Are you concerned or are you not concerned?
This has had where we are yet, We're ten days
(05:48):
away from the two month mark, and I think that
there's been a lot of action and a lot of activity,
a lot of bluster. I haven't seen much results as yet,
but maybe some of you have. So here are the
numbers six one, seven, two, five, four ten thirty six
one seven, nine, three, one, ten thirty. I thought that
(06:08):
his speech to the Joint Session of Congress the other
night was pretty effective, and I thought the Democrats looked
pretty inept and impotent sitting there with their signs. I
wasn't sure if they thought they were at an auction
or not holding up their signs. But the last few
days have been tough for the stock market by extension,
(06:30):
tough for the country, and certainly tough for this administration.
And I think that he probably couldn't say, yeah, we'll
headed for a recession, whether he thoughts it or not.
But I think we took a big step taught a
reception following his somewhat evasive answer, love to get your
(06:50):
reaction to it. Six one, seven, two, five, four ten
thirty six one seven, nine three one ten thirty. Believe me,
the stock market effects everyone. It's just not the we're
wealthy that are in the stock market. If you are
a union member, uh and you'r uh your four one
k is in the stock market, or any sort of
(07:12):
investment that you might have, Uh, it's affecting everyone. We'll
be back on nightside. Let's get the phone calls going.
Six months, seven two thirty, six, seven, nine, three, one
ten thirty. I think we'll have a little group psychology
for the next couple of hours and let's see where
it leads us. Back on nightside right after this. Now
back to Dan ray Line from the Window World Nightside
(07:35):
Studios on WBZ News Radio. Go to the phone. See
what my listeners think about the stock market today. It's
been a rump, bumpy ride down and it was a
big drop today. Let's go to Tom in West Virginia. Tom,
I'm sure you get some investments in the market what
do you think?
Speaker 7 (07:55):
Yeah, my Ira, I have an IRA. It's down seven percent.
Am I going to sit there and cry spill milk over? No?
And it was a couple of years ago where it
lost almost eighteen percent. However, whatever happened during the Biden administration,
(08:18):
things got better. So I'm not going to sit there
and like, oh my god, I gotta.
Speaker 8 (08:24):
Act that money.
Speaker 3 (08:25):
No, no, no, no, but look, the worst day to
sell is a day after a day like today.
Speaker 7 (08:31):
However, yeah, right, and you know what I'm going on here.
Speaker 3 (08:36):
There's a lot of stuff going on here. Okay, So tariffs,
you got the car, you got all of that, go.
Speaker 7 (08:41):
Ahead, okay, So all right, So here's the point. Canada
they pay one point three percent of their gross somatic GDP,
and they're a member of NATO. For their defense, they're
supposed to pay two percent. They have all kinds of
(09:02):
tariffs on our goods. And what Trump is doing with tariffs?
Listen up very closely, union members. Okay, union members. Remember
when the af of l CIO said back in the nineties,
fair trade not free trade. Hello, union members.
Speaker 3 (09:23):
Hello, Tom, we got it.
Speaker 8 (09:25):
No, no, all right, do be your.
Speaker 3 (09:27):
Favorite Tom, all right, don't try to like take the
microphone away and make a speech, make a conversation.
Speaker 7 (09:32):
That's no, okay, all right, all right, But but anyway,
the point being is what he's doing with the tariff,
they are a negotiating tool. These tariffs are not forever.
And what he is doing is he's basically browbeating Canada
and Mexico. That know, you open your markets to us
(09:53):
for goods that we can sell into your country, and
the goods that you make you can sell into our
country where they are totally tear a free. That is
not a bad thing.
Speaker 3 (10:06):
And but Tom, Tom, let's have a conversation. Let's have
a conversation.
Speaker 7 (10:12):
I'm having Go ahead, Hell, you know you're.
Speaker 3 (10:13):
Making a speech. You make I feel like I'm in
a campaign rally.
Speaker 7 (10:17):
Let's make it.
Speaker 3 (10:17):
Let's have a conversation. The other day, the president of Mexico,
I noticed, returned about twenty cartel members who they had
in custody. Now I think the president was asked after
that did he have a response, And I think that
he should have taken advantage of that and said, okay,
(10:40):
that's a sign of good faith. Let's let's get let's
get a conversation going. And I think that if he
wants to play hardball with some of these countries, I
think that's, you know, fine, but you also have got
to recognize when one of them says, hey, we'll do
this or we'll do that. And I just think that sometimes,
(11:01):
you know, half a loaf is better than none. So
again I agree, will hopefully move us towards towards a
faaroh marketplace. Okay, but this and what what?
Speaker 7 (11:18):
Okay? So what you're telling me is the Mexican president
was a pragmatist that gave up twenty cartel members. I
don't know how many cartel members are there, Okay? And
do I support okay, do I support this current president
saying the Mexican drug cartels are terrorist organization? I fully
(11:38):
support that. I agree, and it is okay. So if
I look back on my history as a union member,
as a member of the ib E W that totally
opposed NAFTA, what did Barack Obama say as a presidential
candidate in two thousand and eight to a crowd at
the a f of L c IO convention that summer,
(12:01):
he said, the first thing I will do as president
is reno renegotiate the NATA trade agreement. NAFTA destroyed manufacturing
unions in this country.
Speaker 3 (12:15):
Might have no question about that. And Bill Clinton, thank you,
and Newt Gingridge pardon me for interrupting, But Bill Clinton
and new Gingrish, both Democrats and Republicans, were on board
with that. If George Bush had been president, the Democrats
would have risen up and stopped NAFTA. They didn't because
(12:37):
they was a Democratic president and it was a disaster.
Speaker 7 (12:42):
Yes, And in need I remind you that people like
John Curry said that if we have most favored trading
with China, they will become more of a democracy, less
likely to build up the military.
Speaker 3 (12:58):
Okay, all of that is true. That all of that
is true.
Speaker 6 (13:02):
Okay, look, maybe maybe.
Speaker 3 (13:04):
Six weeks from now the market will have recovered everything, uh,
and that that everyone has agreed on fair trade. And
at that point, when that happened six weeks from now,
I want you to call me back and say, Dan,
I told you so. But I think right now, seeing
the reaction of the market today, we are gonna have
I think we're in for some chopping waters. That's all.
(13:25):
I'm glad to get your perspective, but I got to get.
Speaker 7 (13:28):
The book, all right, But what one real quick point. Okay,
we were told to accept mandates of electric cars. It
didn't work, and we were laying a guilt trip on that. Okay,
so now I'm going to lay a guilt trip on
all the people. Have faith in Trump. I think he
has the nation's interest at heart. Thank you to see
(13:50):
what that.
Speaker 3 (13:50):
Thanks Tom, appreciate it. Let me go next to Bill
and Danvers. Bill, you were next on nights. I get
you here before the break at the bottom of the hour.
Speaker 9 (13:56):
Go ahead, Bill, Ye yeah, I'm not.
Speaker 6 (14:00):
Particularly ready to jump off any buildings or bridges. I mean,
I turned fifty this week or this past week, and
I probably got a while to go. I don't particularly
pay attention. And the way I look at it, if
it goes down another even ten percent, I can grab
more and on the upswing whenever that is, I'll be
better off, you know, dollar cost averaging.
Speaker 3 (14:21):
So whatever the fund's doing, and absolutely.
Speaker 6 (14:27):
And and you know it takes twelve to eighteen months
to really move to your car. I think Wall Street
maybe it's a little over. Maybe they're following the press
and the hype, because I mean, the mother's milk of
stocks is corporate profits. And if you look at the
last few quarters, most of corporate America looks pretty healthy.
Now they go a quarter or two and despites into
(14:50):
their profit margins, then I can see a reason for correction,
because again, you.
Speaker 8 (14:56):
Know, the margins on is good.
Speaker 6 (14:57):
You know, so I'll wait and see twelve day months.
Speaker 3 (15:00):
You know what would what I see happening. What I
see happening, Bill is this morning, I'm reading my Boss
and Globe and there's a story about some brewery in
northern Maine that has just had the rug pulled out
from underneath them, uh as a result of the tariffs.
They were they were going to open up exporting their
their beer uh to to Canada, and the rug was
(15:25):
pulled out from underneath them. Bad timing, I get it,
And it's a tough time for craft beer companies. But
you know that the Globe and the Times, and maybe
not so much the Washington Post anymore, but the Globe
and the Times are going to find every every industry
which has been is going to be hurt by the tariffs,
(15:45):
and they're going to focus on them. And I just
think that the question is is the Trump administration trying
to do too many things too fast, too quickly and
to a larger extent, are they biting off more that
they can shoot?
Speaker 6 (16:02):
Well, we'll find out. I mean I'm not. I mean,
you know, he is doing what he said he was
going to do. And I think momentum is almost you know,
everything to do with degree you pull back. I mean,
the guys that do the articles aren't going to give
any more leeway, you know, if you know, if you
if you hesitated and you pulled back for a little bit,
(16:23):
the New York Times and the Globe's still going to
write stories. I mean, you know, and in the legacy
papist you know.
Speaker 3 (16:29):
So yeah, no noticed. And I think I think you're
right on that. All I'm just saying is that I
think he pulled the leash in a little bit on
Elon Musk and basically said we're going to start to
use more of a scalpel than a sledgehammer. But I
just thought he mishandled that question yesterday when I heard,
(16:52):
I was actually watching that, and when he said it,
I thought to myself, well, I really don't like to
comment on things like that. Well you may not like
to comment. And it had just been asked by a
friendly reporter, a question which I think is a software question,
and he whiffed on it.
Speaker 6 (17:08):
But you know, the thing I'm nervous about a little
bit is, you know, you look at the job numbers
in the last two years. Now I don't, and you
pay attention, Dan, I'm sure you caught this. The job
numbers come out and they say, well, two hundred thousand jobs.
Speaker 8 (17:21):
Are created this month.
Speaker 6 (17:22):
But then if you look at the months before that,
almost every time they were revised down. Yes, so yep,
you know.
Speaker 3 (17:30):
It wasn't I think it was. I think it was
one fifty this month, so it wasn't.
Speaker 6 (17:35):
Even Yeah, we got yeah, but I just threw that
out there.
Speaker 8 (17:38):
I knew this, but was I just rought it?
Speaker 3 (17:40):
You're absolutely right. Yeah. And now again a lot of
that was happening while Biden was president, so maybe, uh,
you know, maybe the fix was in. I don't know.
Speaker 6 (17:51):
Yeah, so I think that stuff has to be cleaned up.
But by doing that and and straightening some of that out,
we're gonna, you know, you're gonna you're gonna see it.
It's like in the restaurant business, you know, and you
uncover things that are dirty in the operation, you know,
to get it back up and streamline things. It's uh,
you know when new management comes in.
Speaker 2 (18:11):
You know?
Speaker 3 (18:11):
All right, Bill, I got you in before the ten
thirty news. I appreciate you taking time. Thanks my fight.
Talk to you so good night. Six one seven two
five four ten thirty. That's the only line that is
available if you're dialing right now and get you in there.
The other lines will full up. So I will tell
you six one seven two five four ten thirty. Did
the stock market rattle you today? If it didn't, you
weren't paying attention. And what does it really mean in
(18:34):
the long run? Is this just a bump in the
road or a ditch on the side of the road
and the economy will be back tomorrow. Well I don't
think so. But at what point is the president He
may be thinking about the stock market tonight, but he's
going to start to think about polls because this is
(18:54):
not a president with a mandate. He's a president who
won seventy seven to seventy five million million votes. So
he won by a couple million votes, but it's not
a mandate in the classic sense of the term. Back
on Nightside, if you want to disagree, feel free bring
it on. The ladies have been pretty quiet tonight, so
(19:15):
I invite them just so they can understand that they
have more than welcome to joining as well. They might
be a little close. The good news last week was
the gas prices had dropped a little bit, which was
a pleasant surprise to me. On Sunday, there was no
emphasis on that we'll be back on nightside after this
news break at the bottom of the hour, You're on
(19:39):
Nightside with Dan Ray on WBZ Boston's news radio. Just
to put this in a little bit of perspective, when
the president was elected on November fifth, twenty twenty four,
the market was about forty two thousand, one hundred and thirteen.
It's now just about forty two one hundred and thirteen,
(20:03):
so whatever gains. And by the way, the market did
top out, let me see if I can find out
what date it was. It topped out on February fifth,
the market was up to forty five thousand, so it's
lost almost three thousand points. And well, it's virtually lost
(20:27):
three thousand points off of the off of the high,
which was just a month ago, a little over a
month ago. So this is not going to cost him
in the polls. Among those who don't like Donald Trump.
(20:50):
It will cost him in the polls. Amongst those who
voted for him but weren't necessarily all on board, they
liked him as the alternate, and that's where the political
capital tends to slip away, and for any president, that
is a problem. Paul in Pennsylvania, Paul, you're next on nights.
(21:10):
I appreciate you. You're taking the time. Go ahead, Paul, Yeah.
Speaker 8 (21:14):
Down, he's trying to wish you an earlier save Patris Stay.
Speaker 3 (21:17):
Hey. Thanks very much, Paul, if you celebrate right back
at you, and what I wanted.
Speaker 8 (21:24):
To say it was you brought up a really good
point about the people that voted for Trump. But Trump
is like the first presidents Glover Cleveland, to win, lose,
then win again. So I don't know if he I
know he's trying to do it's best in the country.
I know he's not necessarily were worried about the Republican
Party and what happens in twenty twenty eight. Maybe he is.
I don't know, but he's got to be worried.
Speaker 3 (21:45):
Well, what he's got to worry about is what happens
in twenty twenty six, which is now about twenty months away.
I mean the midterm elections. He's got to worry about
a razor thin margin in the House, and he's got
a fifty three forty seven advantage in the Senate. If
(22:06):
he loses one or both of those majorities, the last
two years of his presidency won't be a lot of fun.
I mean, yes, I'll be then, Yeah, of course you will.
And at that point you can forget. I mean, that
sets the stage for the Democrats to take over in
twenty twenty eight. I mean, the Democrats right now seem
(22:29):
to be lost, but in the last week or so
things have been very good for the Democrats, and he's
spending political capital here and now. Maybe this will pay
off in April and May or June and July. But
I'm telling you, I think I don't think the end
of the rough ride is over here. I'm not predicting
(22:51):
what the market's going to do tomorrow. I would be
a fool to do that. I'm not pulling the money
that I have in the stock market. I'm not pulling.
I tend to to hold. But that's not my advice.
You people got to do what they gotta do.
Speaker 8 (23:05):
But at some point, yeah, go ahead, that's like the
James Carvel just said a few weeks ago. He said
that the Democrats were pretty much dead in the water.
And then U they you know, with this dose thing
or whatever you call it, prompts really yeah, all they
have to do is play possible. He's pretty much hurt
himself and like out of your collars before me, he said,
we'll just have to wait. There's no way for us
(23:26):
to really find out.
Speaker 3 (23:28):
Well, no, I mean, you know, I mean if all
of a sudden, the same way with the Zolensky thing,
I mean, they seem to be making some progress on
the Dolensky uh kerfuffle at the White House. A we
could go Friday where it all you know, fell apart.
Maybe with Zolensky's letter last week and this meeting coming
(23:50):
up in Saudi Arabia, maybe he pulls that rabbit out
of the hat and Zelensky agrees to a cease fire.
Putin agrees to a cease fire, and he it's you know,
a little bit of a bump there. But I'm telling you,
it's been an ugly couple of weeks for President Trump
during a period of time when he should be enjoying
(24:11):
you know that, so called Honeymoon for his case in
the second Honeymoon.
Speaker 8 (24:17):
Well, he's you know, we used to have to put
some faith in him. But like you said it a
few months if things don't go his way, I don't
know always gonna you know this one, but but yeah,
you might have asked you a real quick question off topic,
what Saint Potter's Day coming up? With Saint Potter's date
coming up? I told someone that I know, I thought
in my opinion, I know, supposedly near city is the
(24:38):
biggest one. But when you say per cap as far
as having per capital irishman, that Boston's the biggest one.
Speaker 3 (24:46):
I don't know that for sure. I can tell you this,
but I was talking with the former governor of Hampshire recently,
Chris Sinunu, New Hampshire, of all the states, has the
highest per capita residents who are of Irish heritage than
(25:07):
any state in the Union, including Massachusetts.
Speaker 2 (25:10):
Warner.
Speaker 8 (25:11):
If they'll let a lot of them left Boston, Oh.
Speaker 3 (25:14):
Yeah, I think that's I think that they brought their
heritage with it, that's for sure. Uh. Paul, great to
hear your voice, Thanks very much for calling. Thank you
so much.
Speaker 8 (25:22):
Thanks, thank you very much you soon.
Speaker 3 (25:24):
Bye bye. Let me go from Paul in New Hampshire
to Paul in Dorchester a little closer to home. Paul
in Dorchester. Next on Nightside, Paul.
Speaker 2 (25:33):
Hey Dan, let me make the statement that the Stark
market is driven by greed and fear. It's really not
based on reason or common sense. And to carry away
or drive any further analysis, I think is ludicrous. It's
you say the wrong thing and you can change the
Stark market. Look what happens every time the Treasury Secretary
(25:57):
was changing rates and things started flying.
Speaker 3 (26:00):
It's like, that's that's not the Secretary treasure that's the
Secretary of the Treasury. That's the Chairman of the Fed.
But I understand the point you're making. But it's exactly
the point I made. Was that an inadequate answer by
the President yesterday to what seemed to me to be
a fairly softball question from a friendly interviewer. I think
(26:22):
is driving what happened today on Wall Street. That's all.
And I think that that there's other things that are
factors here. I think people are scared of the tariffs,
which is understandable that his goal is to bring American
manufacturing back to the country back to the USA.
Speaker 2 (26:42):
The add of the deal, I believe, is what's going on.
We're witnessing the art of the deal from Trump's book
in nineteen eighty seven.
Speaker 6 (26:51):
I have seen that.
Speaker 3 (26:52):
And if you're it sounds to me like you're confident
in his ability to make the deal. They think. The
question is, he's got a lot of balls in the
air right now. He's got the Zelinsky Ukraine one situation. Right,
He's got the tariffs with not only Mexico and Canada
(27:14):
but also China. And you got the Democrats. Well, the
Democrats are going to be the Democrats. Look when he
gave the address to Congress, the Joint Session of Congress
last Tuesday night, the Democrats literally looked impotent. I mean
they were sitting there. It looked to me like they
(27:34):
might have been at a charity auction. You know, we're
holding up their paddles. They've done little. The only Democrat
who made any headlines was the guy that got arrested,
and because it were not arrested, the guy who who
was thrown out of the House and was censured by
the House the next day, in which ten Democrats actually
joined all the Republicans, but it just.
Speaker 2 (27:58):
To he ripped up his statement.
Speaker 8 (28:01):
Nobody.
Speaker 2 (28:02):
There was no Pelosi ripping up the constitution behind.
Speaker 3 (28:06):
Him, right, no doubt. And look, this guy is in
the rump, rough and tumble. He gives as good as
he gets. I get that, I too late.
Speaker 6 (28:14):
It came.
Speaker 2 (28:14):
Jeffries sees blood and he's like a shock. They go
after every little thing, the price of eggs. They killed
all the chickens and now there's no eggs.
Speaker 3 (28:22):
Oh well, I think it was avian flu that killed
the chickens. I don't think it was Hakeem. Jeffries came.
I'm with you on that, all right, Paul. I appreciate
the levity and the conversation added a little nice touch.
Thanks Paul, Thank you all right, thanks to listening to
(28:43):
Night Side. All right, all of a sudden, the lines
are slowing down here six one, seven, two, five, four
ten thirty six one seven, nine, three thirty. I want
to hear from the Trump supporters and I want to
hear from the Trump detractors. Uh. The stock market is
something that is a huge story today. The numbers are huge,
the losses are huge. Now the market reopens tomorrow, I
(29:06):
can tell you right now, the UH the Dow futures,
they're all down. The futures are down. Uh, so it
isn't like there's going to be a snap back tomorrow.
As a matter of fact, the nastac UH is down
another percentage point. Uh Does it worry you? You could?
(29:27):
It can. You might be worried from your own economic
standpoint if you're in the market, or if you're invested
through your U you know, your your IRA or your
furrow one K. But the question is are they going
so fast, so quickly, trying to do so much? Are
(29:50):
they to the point where they are the victims of
their own success, that that that they think they can
do anything? I think again, you know, the pace here
has been discomforting. I was going to say frightening, but
I'll say discomforting. Back on Nightside right after this. Now
(30:10):
back to Dan Ray live from the Window World Nightside
Studios on WBZ News Radio. All right, lines filled up,
let's keep robling. I'm going to go to kenon Walting
Ken next on Nightside. Your thoughts go right ahead? Ken?
Speaker 6 (30:25):
Hi?
Speaker 8 (30:25):
Dan?
Speaker 1 (30:27):
Yeah, you know, my major thought, which I think ties
into what you're talking about, is, you know, if us
MCA was such a great deal. Uh, you know the
biggest deal we ever made, you know why, and it
was with Canada and Mexico. Why do we have to
do anything at all? Didn't we have a great deal
back then? And if we still have to make adjustments,
(30:50):
why not do it like he did you know, five
years ago. It doesn't He did it in a non
dis rat you know, independent of how good the deal was,
it was certainly non disruptives.
Speaker 8 (31:01):
You know.
Speaker 1 (31:02):
I think you're right, he's kind of going crazy here
and it's an overreaction.
Speaker 3 (31:07):
Yeah. Yeah, I think that there's there. I think he's
rolled the dice here, and you know, if it all
works out, he's going to look back and say that's great.
But boy, I'm telling you right now, it suggests to
me that there's that there's problems. The market reaction today
(31:31):
is the first time that that I thought to myself,
there's a there's we Houston, we have a problem. Yeah.
Speaker 1 (31:37):
Yeah, Well I heard that Elon Musk lost twelve billion
dollars today of his own out of his own pocket.
Speaker 3 (31:44):
Yeah, let's let's see what the boy say. How much
does he have he's got? I think I read four
hundred billion, So yeah, let's seeah, okay, so three percent
of four hundred billion, that'd be twelve billion. Now that's
about right because when you when you look at the numbers,
you got the Dow was down to something and the
(32:05):
Nasdaq is down. For he it was about a three
three percent. So yeah, twelve billion would have been his
his hit. I don't think any one in my audience
other than Elon Musk lost twelve billion dollars today.
Speaker 1 (32:16):
That's probably not yeah, but I you know, I've been
trying to think, you know, what is Trump thinking? I mean,
the only thing I can think of is, you know,
perhaps you know, he just thinks whatever he you know,
he said he was going to solve you know, the
Ukraine War in twenty four hours and you know, eggs
(32:38):
we're going to go down in one day. He I
think he thought, you know, he was going to threaten
the East tariffs and Mexico and Canada would give him
whatever he wanted. I don't know, I'm just guffing, by
the way.
Speaker 6 (32:50):
I have no idea.
Speaker 3 (32:51):
Yeah, well, we're the big we're the big dog on
the block. But the Mexican chihuahua and the Canadian wolf
found snapped that get him?
Speaker 8 (33:01):
Right?
Speaker 1 (33:02):
Right, they've got pride.
Speaker 3 (33:03):
As well, you got it? Yeah.
Speaker 1 (33:07):
Yeah, And then I think he was a little off.
You know, I think if Jake Tappert had asked him
maybe the same questions that Maria Bartiromo. Yeah, I thought
maybe he maybe he was a little too relaxed, and
that's why he was off his game a little because
he was with a friendly interviewer.
Speaker 2 (33:23):
Yeah.
Speaker 3 (33:24):
Well, yeah, I guess. You know, the big power hitter
who step up to the plate and the picture has
him down. You know, there's a two or two count.
The guy sitting there expected to fastball. The pitcher throws
a dinky change up over and the guy's called out.
You know, it's like he's just looking for a wrong,
wrong pitch here. I don't know, but it did.
Speaker 1 (33:42):
Have an impact today.
Speaker 3 (33:45):
Thank you.
Speaker 1 (33:45):
Can't appreciate your call.
Speaker 3 (33:46):
As always, we'll talk soon. Okay, thank you much. Let's
keep rowling. Here are going to go to We're we're
going to go next here. Yeah, Rick is in Dover. Rick,
you're next on nice side.
Speaker 7 (33:55):
Welcome, Hi Dan, Hi Rick.
Speaker 3 (33:58):
Well I get you and at least one more in
here before we close up for the eleven o'clock news.
Speaker 10 (34:03):
Go right ahead, So what's the main topic, Tody, you
listened to the show. Yes, I know it's about Trump,
but I wasn't sure if it was about him making
friends with all of our allies over the country or.
Speaker 3 (34:20):
We're talking we're talking about the drop rick. You know,
we've been talking for the last hour about a pock
market in the stock market, as well as the tariffs,
uh and as well as whether or not you know,
with with Doge the administration has taken on too much
(34:41):
if they if they're bitten off more than they can chew.
I know you're not a Trump supporter, even though you're
lo in Dover, but was considered a Republican stronghold. So
this is a great opportunity to take your best shot here.
Speaker 10 (34:54):
Well, you know, I mean, he's definitely taken on more
than you can show, because I don't think he thinking
these things out. I mean, we don't have any allies anymore.
And you know when you I don't know, I mean
unless he's playing a game of selling short every month,
you know, and the rich people making more money that way.
(35:16):
I don't see anything too popular for anybody else that
has a retirement fun with this guy playing games with
stock market uncertainty.
Speaker 3 (35:25):
Yeah, I don't. I don't think his focus. I don't
think his his focus is on short selling. I think
his focus is on how he believes where he wants
to take the country. And we do have allies. That's
a little bit of an overstatement there. We have allies
in Europe, we have allies in the Middle East, we
have allies down Under, and we have allies in Mexico
(35:47):
and Canada. Where you have a family disagreement in your family,
who's everybody always on the same page?
Speaker 10 (35:53):
Yeah, yeah, but they all you know, I mean, the
whole European Union decided that they weren't going to invite
him to their mut.
Speaker 3 (36:00):
They they had an emergency meeting. Come on, Rick, don't
mischaracterize something. Had an emergency meeting. Uh and uh and
and Zelinsky flew from Washington to London and they were
going to step into the breach all of a sudden.
Let's see what, let's see why the Zolensky kerfuffle of
ten days ago that may be getting close to getting resolved. So,
(36:23):
you know, don't as they.
Speaker 10 (36:25):
Say anything that happened there. The guy's kind of desperate.
You know, what's he gonna do?
Speaker 3 (36:32):
Well, if if you think that, if you want to
write that off and as just as the act of
a desperate guy, I think that that Dylensky has stood
face to face with Putin for three years in a
tough set of circumstances. I wouldn't call him desperate.
Speaker 7 (36:46):
Rick.
Speaker 10 (36:47):
I want to get one the money, all right, I
got you, Thank you, thank you much.
Speaker 3 (36:52):
Call Lulureli. Give you more time, Thank you much. Let
me get the war on, Warren, you get the last
shot at this, will continue this into the next hour,
Go right ahead, Warren.
Speaker 9 (37:01):
Oh yes, yeah, Hi Dan. Yeah.
Speaker 11 (37:05):
Whenever there is bad news, Americans get nervous, and that's
what's happening here with the stock market. And you know,
whenever you know, they don't like Trump making an you know,
warring with Canada or Mexico or or even China. All
(37:26):
of this should have been should be done behind the
scenes quietly. You know, you have the people working working
for the president, working behind the scenes and trying to
get better deals.
Speaker 9 (37:41):
But you know, he's bombastic, and he's his ego is
you know that.
Speaker 11 (37:48):
Of New York City.
Speaker 9 (37:49):
So yeah, but that's that's.
Speaker 3 (37:54):
What we have. Well. I think I think he's probably
doing too much, too fast. I mean I haven't even
mentioned the the flurry of executive orders obviously, which which
are very much related to DOGE. There's a lot of
people whose lives have been genuinely upturned. Uh. There, there
(38:17):
were some of these things. They were talking about. The
five people at the Kennedy Library who lost their jobs.
They will returned the next day, so no harm. Yeah,
I mean a little bit of eggs for five people.
But when you start closing you know, an entire departments.
Uh yeah, this.
Speaker 9 (38:34):
Yeah, I mean, yeah, he's a bullock tier shop right now.
And what you know what I thought he was going
to do is I thought he was going to do
all the low hanging groups, you know, like you know,
like what's in the port book every year when they
do a budget and all these things come out, Like
(38:55):
what's the intent on in its foolishness? I thought, you
go go there and take.
Speaker 11 (39:01):
The all hanging throuit and just you know, get rid
of that.
Speaker 3 (39:04):
Well, he's fired about, you know, to to use the
football metaphor, he's fired about four Hail Mary passes and
so far none of them.
Speaker 7 (39:13):
Yeah, completed.
Speaker 9 (39:16):
Drink men going back on the on the on the
one and trying to throw at ninety nine yards.
Speaker 3 (39:21):
You got it, you got it war and I got
you none of the wire. Thanks, my friend, We'll talk.
Speaker 9 (39:25):
Thank you, Thank you so much, appreciate it.
Speaker 3 (39:27):
Got some open lines six one, seven, two, five, four
to ten thirty or six one, seven, nine three one
ten thirty. Let's talk about it. I mean, if maybe
you think nothing's going on, or maybe you think something
big is going on, I tend to be in the
somewhat big category, uh, in terms of what's going on.
Join the conversation. Coming back
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