071724 Steve Laffey

Episode Transcript

(00:00):
And gentlemen, Welcome to the secondhour of today's broadcast. If you're listening
to this in real time today,if you're listening on the app around the
globe, welcome to the program.It's a Wednesday morning, a lost track.
I'm on this, I'm on theconvention time. I feel like I'm

(00:20):
at the convention even though I'm notat the convention, just because I'm watching
it and I'm staying up and I'mtrying to figure out if I can get
some sleep and rest and how doI accommodate my bedtime. But nobody's on
a more different schedule than Steve Laffythis week. Steve Laughy joins us every
week at this time, and he'sactually in Vienna. He's watching all the
events of the last several days overseasand has a different perspective. And let's

(00:45):
bring Steve Laffey into the conversation.But before I do, let me remind
you that this hour of the programbrought to you by Dan Caplis Dan Caplis
Law, a serious firm for seriouscases. Dan Caplis, Dan Campis Law,
Dan Caplislaw dot is the website.Always feel free to go there.
Dan kaplis law dot com. Allright, I got to remind you also,

(01:07):
my friends said, if you wantto hear any of the interviews of
the radio show after the fact,go to Jimmy Lakey dot com. We
always put those up. Let mebring Steven Steve Steve Laffey from Vienna.
How are our roving reporter about town? How are you, sir, Jimmy.
We just came out of crackout polandbefore that Copenhagen, and now we're
in Vienna and having a wonderful timewith these famous Spanish horses and wandering the

(01:32):
streets at Saint Stephen's Cathedral, whichI hadn't been to in thirty years.
But yes, have a very differentperspective, I guess being over here in
Europe with people sitting next to me. Australians say to me, who is
jd Vance over dinner the other night, and I had to explained to him
as a senator, but they didn'tknow who he was. So yes,
so what a very different experience.Let me ask you you were overseas when

(01:52):
the news hit of the attempted assassinationof Donald Trump happened on Saturday. What
was the response wherever you were atwhen that happened, And I'm sure it's
kind of a different feeling when you'rehearing this about our former president here in
America and you're overseas without the accessto the information you might want. Yes,
And then we were in Copenhagen,and yes, I mean I was

(02:15):
horrified to hear the failures of theSecret Service and the local police and praying
for Donald Trump and God blessed him. He's alive, he's healthy, he's
going to work today. But aroundthat was in Copenhagen, I would say
was fairly muted, surprisingly so tome from people sitting around me at coffee
shops or at restaurants, and somepeople discussed it, but they didn't discuss

(02:37):
it in a bad way or agood way. Sort of a matter of
factor, I seem was a smallsample, Jimmy, it was fairly shocking
that people weren't a little bit morerowled up about it. But again,
the non Americans, right, sohe's alive and he raised his ears,
so they just went about eating theirfood. Usually during the political conventions,

(02:57):
the opposite side kind of stays quiet, it goes into dormance. But I
think a lot of those rules havebeen thrown out over the last several years.
We had Joe Biden doing a interviewon Lester Holt on Monday, and
then yesterday Joe Biden came out witha policy that he says he wants to
do that he wants to blow upthe Supreme Court, give him term limits,

(03:19):
ethnic codes. It's unusual that itused to It used to be unusual
for the opposition party to be makingstatements in policy during the during convention.
What are your thoughts on Joe Biden'sproposal on the Supreme Court? Well,
President Biden is now just like adrunk flailing around with anything. He not
only has he come up with theSupreme Court stuff, which these are things

(03:42):
like his student loan forgiveness. Theynever happened. They won't go to a
vote. He'll just keep saying it'sto play to some bass that is smaller
and smaller every day if you addhim. What about his new proposal he
just whips out a couple of hoursago about rent control. What is he
talking about. We went through wagetrue price control in the seventies. There's
no economists, there's no human beingwalking the streets who wants wage and price

(04:04):
controls on rentals. No one willbuild a rental and plus it's never happening.
Half the Democrats wouldn't vote for it, none of the Republicans. So,
Jimmy, this is a man whois gonna lose if they don't get
rid of them soon. The DemocraticParty will lose. And I told you
a week ago. Now it's worselosing a landslide. When the challenger gets
hit in the air, gets upand says, fight, fight, fight,

(04:27):
there are many Americans say, youknow, I don't anything about the
guy. I'm not panning attention.I'll go with that guy. And the
race is over effectively except for thisappointment of Jvvants, which totally reshapes the
Republican Party for the future, Isuppose, and leaves people like me out.
So you know, they have manyproblems, but people won't focus it
on that right now. They justhave a nice unified convention where if you
notice, at the convention seems tome from this is far away, Jimmy,

(04:49):
everybody who hated Donald Trump, likeDicka Haley, is that just there.
What does she want? She wantsthe job, So it's all the
sick of pants and backstabbers. Andremember they all ran against them. Can
they be vice president? Not me? I tried to defeat him. They
took they be vice present. Thatwas their shots to be vice president,
and to it. I'm not agreementwith the pick. But jd. Vance

(05:10):
didn't run against them, and soTrump remembered to reign against him. He
didn't pick any of them, andI think that's actually overall smart. Give
me your thoughts about JD. Vance. Obviously, he's kind of a newcomer
twenty sixteen, he was just anauthor getting a film deal for his book,
Kill Billy Elegy. But give meyour thoughts about his pick, knowing
what we know, well, wedo know he wants to raise the minimum

(05:32):
wage around the country, and thatto me is a to people like me,
which is still twenty five cent ofRepublicans. Now, most people just
do the dual party system that's goingto vote for Trump. Right, But
someone says they want to raise theminimum wage, that's like a zero bar
for me. I'll never speak toyou, I'll never vote for you,
which means you have no understanding ofanything to do with economics. Plus,

(05:55):
listen, I've been talking about nottrading with China for ten years before you
met me publicly made a movie aboutit. So they want to raise tariffs
on China, but they want tariffson everybody. That makes no sense.
Jimmy, this is no sense atall. The last thing that jd Vance
wants and I've been reading this likeonline, he wants a week dollar.
Well, I'm not voting for anybodywho wants a week dollar, and I

(06:17):
think people listening. The only othertime I mentioned anything on radio was one
time in twenty twenty in April,when I said silver was really cheap on
your show when it was seven it'snow thirty one. Okay, I'm just
telling you, if you on usdollars, it's time to stop moving elsewhere.
Now Gold's already made the move,and silver's made the move. But
it's time to get out because betweenTrump and what they're gonna do, Advance,

(06:39):
you're gonna get a very week dollarand you're gonna have a disaster.
Remember, nobody invests in a countrythat has a weak currency. Somebody called
Japan. The last six years,right, Nobody from the outside wants to
invest in that country because their ratedreturn of getting them money out goes down
precipitously when the currency declines. I'vebeen over this with your listeners twenty five

(07:00):
times and ten years. We wanta strong US dollar because for the long
term we get a lot more investment. But putting tariffs on everybody like England,
Canada are someone joking. We won'thave any out. All they're gonna
do is do it back to us. So this is really bad stuff.
The last thing that's still coming aroundnow with the president is somehow this thing
with the Federal Reserve. Listen theFederal Reserve. It's on my website,

(07:24):
Steve Laughy that time. I spokeabout it many million times, and need
to stop what they're doing, theneventually get rid of them. I've been
over this, but to talk abouthow you're gonna might you we're gonna get
rid of them, which you can'treally do. You can't. I mean,
by Lord, you can remove him, for course, but what's the
couse you don't like him? Andthen now he's gonna let him stay if
he does what he likes, thisis gonna be disaster. So these things

(07:46):
are big disasters. Economically, noneof them have to be done by Trump
advance. They could just do normalthings and win big. So we'll see
what happens because it seems to methat Jade Vance doesn't have an ideology either.
He'll just blow with the wind.Remember in twenty fifteen and sixteen,
Trump was the worst guy. Weget all the text from him, right,
and now he was the greatest guy. Trump is just Trump, no

(08:07):
ideology, no nothing, and Vanceis just Vance, no ideology. They
just want power. They want towin, and this time they will.
But they don't have a policy.And fact one thing they don't have is
any policy about the national debt.They have a single policy about it.
I guess they just want to makeit bigger like Biden. This is really
shaping up to be a giant disaster. But the Republicans will po least control
the Senate and the House. Theworst is Steve Laffey his website Steve Laffey

(08:31):
dot com. As he alluded toSteve Laffy dot com, Steve, I'm
watching this convention and I'm listening tothe Republicans talking. Of course, we
know that Trump was pretty good onterrorism and foreign policy. I appreciated that,
but they keep talking about make Americawealthy again. Let's get the economy
back. We're going to go backto the days of Donald Trump, where
inflation was lower and the price ofgas was lower. They say all this,

(08:54):
but nobody gives any specifics of howwe're going to do that. What's
the path forward? That is kindof missing. There's a lot of platitudes
being spoken. I think this happensat all, convinces a lot of platitudes.
And I know Donald Trump's path forwardon terrorism and foreign policy. I
get that, but I'm still notreal clear on the specificity of his economic

(09:16):
policy. I liked how the economywas, but I'm not sure if he
has the specifics of how to getus back there. Well, first of
all, they liked what it was. There is no way if we go
back to the Donald Trump economy,which was two percent growth, two percent
growth, two percent growth, andnegative two percent growth in four years,
we're never growing a way out ofany of these deficit problems. And when

(09:39):
we have this recession, which isstarted, as I told you a month
ago, started and now people beginto realize I'm right, you're going to
run a debt to GDP with vanceand Trump as president of eight nine ten
percent. You want to see aweak dollar, you want to see high
real interest rates, you're going toDonald Trump. We wish he got shot
between the eyes. I mean hypothetically, I mean figuratively. This is going

(10:00):
to be a disaster. They've gotto get some policies together. And if
I were there, if they wouldlet me run the country into a giant
recession by fixing it for a year. In other words, take the medicine
right, be a strong dollar person. Change to a fair tax, a
flat tax, the nine nine tonine plan, the twelve twelve Flouler plan,

(10:20):
change the whole shoot match so youcollect a lot more revenue, but
not raise the race right, andand they would be heroes in year three
and four like Reagan was. Rememberthere were two recessions under Reagan, but
by the time he got going ineighty four, the economy was growing in
those numbers for growth under Reagan wassomething like four, five and six.

(10:41):
So that's what we need to stopgrowing out of this. They have no
plan for this. It's not justplatitudes. They won't have a plan in
November. They don't have a planin January. They're just going to be
talking about Drewelis for oil well,to his credit, not you didn't do
anything about it. He tried toshut it down. We're still producing more
oil in America under bid than ever. So I don't know what to say

(11:01):
about any of this, but foreignpolicy will certainly be better in a sense.
You know, when we talk aboutwhat's happening with Iran and what happened
with Afghanistan, where somehow Joe Bidensaid no soldiers died. I think at
least thirteen died under that crazy thing. And we probably would not have had
an invasion of Ukraine if Trump waspresident. Remember Trump was going to say
these things and not do that.He's not going to negotiate. I'm going

(11:24):
to break this down now, folks. He's not going to negotiate the power
of Ukraine, even though he saysthe dude in a week, he's not
going to do that. He'll justsay something different in November or January,
something different. They just don't careabout policy. They just care about platitudes.
But in his own sense, Trumpdoes have a decent sense of foreign
policy to keep us out of entanglementsin a sense. But just these people

(11:48):
will if they don't get their acttogether, They're going to be the Calvin
Cooliches of the next four years.Because there's only one thing I know for
sure. The twenty twenty eight electionwill be all about the national debt and
about the dollar go getting weak,and about the fact we can't pay the
interest on the debt. It's nota subject today at all. It's my
subject, as you know, that'swhat I read for president on but it's
not a subject for these people,so they won't be able to handle it.

(12:09):
Neither will the people around them.Jimmy, they have no idea what
they're doing. They just keep changingtheir policies. In fact that some people
who are doing a twenty twenty fiveplan for Trump he doesn't know that,
he knows nothing about, and they'recoming up with crazy things, and he's
saying, I don't know anything aboutthese people who are his friends who would
do that to him. Coup ofthese policies can say they're kind of Trump's
right, but are they're not.The twenty twenty five plan is is a

(12:31):
proposal put up by the Heritage Foundation. In d says that's a Heritage Foundation,
not me. The Heritage Foundation isputting out their ideas, and you
know that's how they raise their money. You sent me a headline that's interesting
in our final couple of seconds together, Feds one trillion dollar, one hundred
one trillion dollars pile of paper lossesare turning into actual losses with more insight.

(12:52):
Now the average American reads that andgoes, I don't really know what
that means and how that affects me. Break it down, one trillion dollars
of paper losses by the fat they'velost some money, it seems like,
and there's more insight, Explain thisto us. Yes, when the rates
were really low and should not havebeen row, what did the Federal Reserve
keep doing? It kept buying bounds, putting them on the balance sheet.

(13:16):
The balance sheet of the Federal Reservewas four hundred billion in two thousand and
seven. It went to nine trillion. Now, get out of calculator,
folks. It's now they're taking itdown slowly. But when rates went up
because they finally had to raise rates, they're losing every money every day,
like one hundred billion dollars this yearof real losses. These are losses that

(13:37):
are actual losses that are part ofour national debt. So ask yourself the
question. If you're a member theFederal Reserve, one of the fifteen seventeen
members who created this problem and arenow losing one hundred billion. American citizens'
listeners don't know how to lose amillion. They're losing one hundred billion a
year. Once you resigned, wouldn'tsomeone say they were sorry? Finally?

(13:58):
Never, They'll never say. Andin fact, what Powell said last week
was he thought two percent growth ofthe economy today was good. These people
are clowns and they only represent theelite. This is why Trump is a
genius marketer. He's not saying trustme, He's saying, all those other
people suck, and we all knowthey do. And so that's all he

(14:18):
does, and it's got them tothe presidency once and probably twice. Yeah,
the voice of Steve Lafey, Steve, what's next on the travel itinerary?
You're in Vienna. Now, you'vebeen to Copenhagen, You've been all
over various parts of europere you headednext? We head tomorrow to Salzburg and
then to Innsbruck, and then Fridaywere in Zurich. I will go to

(14:41):
Liechtenstein for the first time in mylife. Looking up on a map,
it's near Zurich, and then wewill take it go to Paris on Sunday,
Amsterdam for two days, Tillsburg.I will call you next week from
the lovely place of London, Englandin the afternoon. In the following week,
I'm gonna call you from Dublin.Well, you're on the worldwide globe
trotting tour, Steve Laffy. Tellthe missus hello, and I'm glad you

(15:05):
guys are having a great time.I hope somebody, I hope somebody is
taking care of the animals back athome. Nice. We have relatives taking
care of the animals and we're notcoming back for a while. But at
some point the dollar is so stronganother reason I'm going, So you just
say, you know it's going toget so weak. I'm never leaving America,
so I better go now. I'vebetter planning my traveled africare real soon

(15:28):
and the dollar dollar where it's atnow. Steve Laffy, God bless you,
my friend travels. Safe, Safetravels Steve Laffy dot com, l
A F F E Y Steve Laffydot com. All right, I mentioned
earlier this hour of the program broughtto you by Dan Caplos. Dan Caplo's
Law serious firm for serious cases.I will also mention again that you need
to if you ever want to hearportions of the program that you might have

(15:50):
missed, you can always go toJimmy Laky dot com. Yesterday I had
the last two days, actually,I had a great security expert, the
number one security expert by security organizationsin the world. His name is Chuck
Andrews. And if you missed thatinterview talking about the attempted assassination of President
Donald J. Trump, cutting througha lot of the noise, you ought

(16:12):
to go listen to that interview.That is up at Jimmy Laky dot com.
You can hear the There's two interviewsup there. I think of Chuck,
I believe both of them. Listento yesterday's. It was a long
form interview. It happened in theseven o'clock hour yesterday morning, and I
think we replayed up a segment ofthat in the nine o'clock hour. But
very very fascinating. Everybody kept talkingabout that pitch roof. We couldn't have

(16:33):
snipers on the pitch roof. Ithad a slight slope to it. And
then somebody was smart enough to go, well, why are the other snipers
up on a roof that's even steeperthan that roof. There's some real blunders
here by the Secret Service and theleadership that was protecting that, and I

(16:55):
hope we get a very fast Iheard somebody last night at the convention say
we need to have a faster room, a fast investigation, fast and thorough.
But I'm afraid because the government it'sgoing to look bad, and government
entities are going to look bad.They're going to slow roll the truth.
I got a phone call last nightor yesterday afternoon, when I was heading

(17:17):
back to my house, I gota phone call that well, I'll tell
you what it was. It wasabout. It was about the Secret Service
and they said, you didn't hearthis from me. Cooberates a little bit
of what Dan Bongino's been saying aswell. Stambao tell you what the phone
call was all about. Next news, toxic case ol