The Charlie Kirk Show, April 7, 2025

Commentary on free trade, trade with China, tariffs, Brown University, the market, and global economy. 

Guests: Alex Shieh, Blake Neff, Andrew Kolvet, and Dr. E.J. Antoni.

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:17):
The Charlie kirkshow starts.

Speaker 2 (00:19):
Now, why we have to do what we're doing one
point two trillion dollar trade deficit. We've exported eighteen billion
dollars worth of our wealth since China joined the WTO
in two thousand and one by running these trade deficits,
and we'd give it away our houses or office buildings,
or food supply or farmland.

Speaker 1 (00:41):
That's got to stop.

Speaker 2 (00:42):
It's threatening our economic prosperity national security.

Speaker 3 (00:45):
So justin point in fact, the reason that the European Union,
even though they are our fourth biggest market for agricultural products,
as you know, don't take as much American pork as
you would like is because they have issues.

Speaker 1 (00:57):
With hormones used in fork.

Speaker 3 (00:59):
I don't want to get into a whole debate over that,
but that's it's not an issue about tariff's. Conservative economists
of the American enterproducts.

Speaker 4 (01:05):
No wait loa wait, hold on, Jake, no no no, no, no, no, no,
no no no, this is really important. You can't just
say that. So here's the bottom line. They are using
fake science and unsubstantiated claims to not take our products.

Speaker 1 (01:17):
So it isn't just that they have high tariffs.

Speaker 4 (01:19):
Thank you for making this point for me, by the
way I mean to make it. It's not just the
tariff numbers. It's the way they've treated our products. Oh sorry,
we can't take your beef since two thousand and two
because you use a certain type of feed. That's just
absolute bull. It is not correct and not appropriate. Our supplies,
our farmers and ranchers, we produce the safest, the most secure,

(01:40):
the best food in the world. And so to use
that for you to say, oh, oh my goodness, we
can't do it because of this reason, it's absolutely wrong
and it's not based on sound science.

Speaker 1 (01:50):
Okay.

Speaker 4 (01:50):
The bottom line is this, in the last four years,
the cost of inputs for our farmers lane up thirty percent.
In the last four years, we had an agriculture expert
deficit that increased from zero when President Trump left to
forty nine billion. Dollars. Are farming and our farmers and
ranchers are hurting. They are operating at profits of margins

(02:13):
of profit that are thinner than they have in a
really long time due to the policies of the last
four years. The long term, the tariffs worked, I mean,
the research shows that we had an activity increase in jobs, etc.
Until frankly, the Biden administration stopped enforcing some of those
the deal once we left office. In twenty twenty one.

Speaker 5 (02:35):
The Treasury Secretary said on another network, We're going to
hold the course. It's not the kind of thing you
can negotiate away in days or weeks. That makes it
sound like the tariffs are staying in place at least
for days or weeks. Is that correct or is the
present considering postponing implementation to negotiate.

Speaker 1 (02:57):
There is no postponing. They are definitely just paying place
for days and weeks.

Speaker 6 (03:01):
That is sort of obvious.

Speaker 7 (03:03):
The President needs to reset global trade. Everybody has a
trade surplus and we have a trade deficit. We are
paying away our future and our lives. The countries of
the world are ripping this off, and it's got to end.
The President has made it crystal crystal clear.

Speaker 1 (03:19):
This is the policy.

Speaker 7 (03:20):
We're going to protect the factories that come build in America.

Speaker 8 (03:24):
We are going to protect them.

Speaker 1 (03:25):
They're going to be successful.

Speaker 7 (03:27):
That's why they're going to build in America, the greatest
economy in the earth.

Speaker 9 (03:30):
We saw during COVID that optimal supply chains are not resilient,
and what I could say is the only good outcome
from COVID is it was a beta test for what
would happen if our supply chains got broken. And President
Trump has decided that we cannot be at risk like

(03:52):
that for our crucial medicines, for semiconductors they have for shipping,
and we are going to move forward. The American people
can know that they are going to have a more
secure future.

Speaker 10 (04:04):
Well, Chris, why, I want my cake and eat it
too as well. So I want to bring the jobs
back to America, end of the day.

Speaker 1 (04:09):
I do want zero tariffs.

Speaker 11 (04:10):
You.

Speaker 10 (04:10):
Growing up in Kansas, since the day I was born,
I've heard farmers say, you know, why does EUFFE have
a fifty percent tariff on American agriculture? India one hundred,
Canada two hundred, and Beyond the tariffs, it's the non
tariff barriers. A lot of those countries simply won't let
agriculture products into those countries.

Speaker 1 (04:26):
So yeah, short.

Speaker 10 (04:27):
Term pain, long term gain, bring the jobs back and
then get to true free reciprocal tariffs.

Speaker 12 (04:33):
I got a report from the USTR last night that
more than fifty countries have reached out to the President
to begin a negotiation but they're doing that because they
understand that they bear a lot of the tariff, and
so I don't think that you're going to see a
big effect on the consumer in the US, because I
do think that the reason why we have a persistent
long run trade deficit is these people have very in
elastic supply. They've been dumping goods into the country in

(04:55):
order to create jobs.

Speaker 13 (04:56):
Say in China, every day is a battle for your mind,
raging information coming from every angle.

Speaker 14 (05:06):
But the will to the sea, fear not. You found
the place for truth, the voice of a generation that
still has the will to believe in the greatest country
in the history of the world. This is the Charlie
Kirk Show.

Speaker 8 (05:19):
Fuck a lot, here we go.

Speaker 15 (05:24):
Okay, everybody, Radio stations across the country, honored to be
with you.

Speaker 16 (05:28):
As always.

Speaker 15 (05:29):
I will be heading on the campus at the University
of South Carolina momentarily. But first we are here breaking
down all of the news of the day. In fact,
news is moving so quickly, it is moving at such
an accelerated pace right now that it is difficult to
keep up. It is moving so quick we have to
basically have five different chats open of different responses from

(05:50):
foreign nations regarding tariff threats, regarding reciprocity.

Speaker 16 (05:57):
So there is a lot going on here.

Speaker 15 (05:59):
But instead of going into all the details, because that's good,
it's going to change by every five minutes, I think
we need to take a step back and reset the
foundational framework, to reset a thirty thousand foot view of
exactly what's going on here. President Donald Trump has been
railing against bad trade deals for the last thirty or
forty years. President Donald Trump, as a businessman, identified trade deficits,

(06:24):
and the way trade is supposed to be constituted is
we do what we do best, and you do what
you do best, and we will barter. By doing so,
you will make us wealthier and we will trade and
we will both be able to have a flourishing future.
But ended up happening in the nineteen nineties and early
two thousands. In the nineteen nineties, there were three critical

(06:45):
mistakes made by Bill Clinton, the entrance of China into
the World Trade Organization, the NAFTA, and also the repeal
of the idea of investment bank and commercial banks. That's
a whole separate issue for another time, but the inflation
of investment in commercial banks allowed the cheap flow of
money to go into the capital markets in a way

(07:05):
that that specific deregulation I think actually led us to
the two thousand and eight financial crisis and the lords
of easy money leading us closer and closer to fiscal
and financial apocalypse. Now, free trade did make the stock
market go up. Nobody is doubting that unlimited, unfettered free

(07:26):
trade did make the ten percent do very well.

Speaker 16 (07:29):
I am part of the ten percent.

Speaker 15 (07:31):
I can say this as somebody who is part of
the evil ten percent of the country. When you are
on the upper part of the socioeconomic ladder, specifically, if
you do work that does not involve your hands but
only involves your brain, that does not involve your body,
but only involves your brain. Free trade is traditionally a

(07:52):
great idea because we became an information economy and a
consumer economy and not an industrial one, because we were
entering into a technological revolution. Because that we were entering
into a brave new world of unfettered, unapologetic free trade,
that we would no longer need to make stuff. In fact,
that is what the third world does. The idea was

(08:14):
that the third world will make our products for us,
and that we will be able to become wealthier. Francis
Fukiyama famously wrote a book called The End of History.
The assumption was permanent US dominance. It was a post
Cold War mentality. It was that neoliberalism is the end

(08:35):
of history. Fukiyama wrote in the End of History that
this will be the end of war, that neoliberalism was
the apex of civilization. Neoliberalism was course, invade the world.
Invite the world. The idea of the Western liberal order
will be able to be spread to all corners of
the world, and we will end the Escaton. The Escaton,

(08:55):
of course, is a Christian view of when christ rules
are for a thousand year reign. Imminetizing the Esketon is
what the free traders thought they were going to get.
In fact, I remember growing up. I was in sixth
grade at MacArthur Middle School right there on Palatine Road,
right where I grew up, and.

Speaker 16 (09:15):
I remember we would watch they had these morning news bits.

Speaker 15 (09:22):
I forgot the name of it. Maybe Blake would know.
It was like five to ten minutes long. It was
like mandatory must runs. I remember one of them. I'll
think of it. I could find it in a break anyway.

Speaker 16 (09:34):
It was the news clips.

Speaker 15 (09:37):
In one of them, they said, can you find a
single thing when you're walking through a parking lot at
Walmart and ask people what they bought that was made
in America?

Speaker 16 (09:45):
And the answer was no.

Speaker 15 (09:47):
And of course all my sixth grade classmates like, that's wrong,
that's wrong. And I remember the teacher would interject, and
I wouldn't even say the teacher was liberal, the teacher
was neoliberal. And the teacher would interject and say, no,
this is a good thing. This made us wealthier. We
don't have to do that work. We are liberated. In fact,

(10:10):
what we were told, what I was told growing up,
is that free trade would then make it where the
Russians will be wearing Levi jeans, eating McDonald's, taking selfies.
Well at the time, just listening to iPads, iPods. And
it's not even that it's a bad thing for other
things to be made in other countries.

Speaker 16 (10:31):
Of course not.

Speaker 15 (10:32):
We want a competition, we want markets. We do not
want no trade. Instead, it is when nothing is made
in America, or next to nothing, when it's such a
small percentage when making something in America, almost people look
differently at you. Why would you do that now we
also must be fair. We have to be fair in
our analysis partially but not mainly. Partially as to why

(10:55):
the corporate class decided to move these jobs overseas is
that you unions got very greedy in the.

Speaker 16 (11:01):
Nineteen seventies and nineteen eighties.

Speaker 15 (11:03):
This is a lesser appreciated component of this analysis is
unions thought that they were too big for their bridges.
They were like, what are you gonna like leave? Literally,
some of the labor unions would look at the corporate
class and say, we want a forty percent increase in wages,
we want more days off, and the corporate class decided

(11:24):
to get back at the unions. America became less competitive.
Now again, a lot of the Trump coalition is union labor. However,
as Blake Astuteley pointed out, find one part of the
American economy that is mass unionized that isn't totally awful.
It's really hard to find, in fact, in the fact
where mass unionization, especially public sector unization, public sector teacher unions,

(11:49):
public sector janitorial unions, public sector government unions. I think
that there's a place, for example, a carpenter's union. They're
very good at training they're very good at apprenticeship. However,
there needs to be a balance between capital and labor.
And what happened, of course, is the capital, the corporate
class having no allegiance to the United States of America,

(12:10):
and the fact that unions overreached and unions got cocky.
They looked at the corporate class in the eye and said,
we're American labor. What are you going to really go
and make that trinket in China? And the mackenzie type said, yep,
that's exactly what we're going to do. Actually, and it
was made easier by this decision. Understand, what President Donald
Trump is doing is fixing and remedying the mistakes of past.

(12:35):
If you had to go look at what is the
original sin as to why we are in the place
that we are in. There are many places, there are
many decisions, but the one where we actually have it
on tape. Rarely do you have the original sin on tape.
And it was televised on c SPIN. And that is
when we decided to make what was then a third

(12:55):
World and maybe a second World country entrance into the
World Trade Organization. This was a glide path. We did
not do this to try and make us have greater
harmony with China. In fact, you could make an argument
that our relations with China were probably better before China
went into the World Trade Organization. The free trade zealots

(13:18):
told us that trade will bring us peace. In fact,
it turns out that mass trade with China brought us
closer and closer to conflict. President Donald Trump is fixing
this problem. From Bill Clinton play cut one twenty one.

Speaker 13 (13:33):
The WTO agreement will move China in the right direction.
It will advance the goals of America has worked for
in China for the past three decades, and of course,
it will advance our own economic interests. Economically, this agreement
is the equivalent of a one way street. It requires
China to open its markets with a fifth of the

(13:56):
world's population, potentially the biggest markets in the world, to
both our products and services in unprecedented new ways. All
we do is to agree to maintain the present access
which China enjoys. Chinese terifts and telecommunications, products to automobiles,
to agriculture will fall by half or more over just
five years. For the first time, our companies will be

(14:18):
able to sell and distribute products in China made by
workers here in America without being forced to relocate manufacturing
to China, sell through the Chinese government, or transfer valuable technology.
For the first time, we'll be able to export products
without exporting jobs.

Speaker 15 (14:41):
Boy, there is so much wrong with that. I'll analyze
that after the break. You look at that there's still
joint technology transfers. We are not allowed to sell our
products in China. Our technology companies are not allowed to
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Speaker 16 (15:35):
We'll be right back.

Speaker 14 (15:49):
Stop watching the news and start making some the Charliekirkshow.

Speaker 16 (15:56):
Okay, everybody, welcome back.

Speaker 15 (15:58):
I am about to be on campus all week University
South Carolina. We have Illinois State University, University of Illinois,
Perdue University, and Michigan State University. Next week we have
Boise State University, Washington State University. After that we have
Texts A and M, and then University of Wyoming. And
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Speaker 15 (17:12):
Email me freedom at Charliekirk dot com.

Speaker 16 (17:24):
Okay, everybody, welcome back. You are living through history.

Speaker 15 (17:27):
You're living through the attempted realignment of a failed rules
based international order. So one of the reasons why President
Trump's approval rating is going gone up. President Trump's daily
tracker of approval rating went up last week after the
application of tarots. It's so fascinating to me. I feel
as if I live in two different realities. And I

(17:48):
say this, by the way, as someone who is very
invested in the stock market. Thankfully I have a great
person and team that helps manage that stuff. I was
only down a couple percent. Well of other people were
down a lot more. You could have hedges by the Vicks,
you can have buffers all that stuff. But I feel
as if I live in two different realities. I was

(18:11):
walking around Arizona, a certain part of Phoenix, Arizona this weekend,
and a very wealthy guy came up and he was
very worried.

Speaker 16 (18:18):
Came out to me, Charlie, what is Trump think with
these tariffs? What do you think? What do you think?
What do you think?

Speaker 15 (18:22):
I said, Look, everything I'm going to tell you privately,
I also say publicly, I have no inside information, and
if I did, I certainly wouldn't just share.

Speaker 16 (18:28):
It with you.

Speaker 15 (18:29):
Very worried, he said, you know, my portfolios down, my
market's down zone. Okay, kind of almost freaking out. And
then in the other's reality, when I went out to
dinner with my wife, guy comes up to me and
he says, Charlie, I'm a welder.

Speaker 16 (18:44):
This is the greatest week I've ever seen in politics.
So what do you mean?

Speaker 15 (18:49):
He said, Finally someone is giving the middle finger to
the corporate class, and they're going to offend those of us.

Speaker 16 (18:56):
That work for a living.

Speaker 15 (18:59):
US blue collar world have a fighter in the White House,
and we've been waiting for it.

Speaker 8 (19:03):
Now.

Speaker 15 (19:03):
I'm not even saying one is right and one is wrong.
They're both are very valued constituencies. One is the capital
class and one is the labor. And properly understood and
properly balanced, you have hopefully some brokered equilibrium between capital
and labor. Understand, the top ten percent, which I am
part of and many of the audience are part of,

(19:23):
own about eighty eight percent of the equities.

Speaker 16 (19:25):
Now it's a little.

Speaker 15 (19:26):
Deceiving because a lot of teachers, and a lot of janitors,
and a lot of people that have four O one
k's they might get blended into a major wealth management fund.
Nobody is happy with what's going on with the stock market.
But again America, ten percent of Americans owte eighty eight

(19:46):
percent of equities. Next for own twelve percent of the
stock market, and the bottom fifty percent has debt. They
have credit card bills, They rent their homes, and they
have auto loans, and they've been.

Speaker 16 (19:57):
Screaming and crying for some relief.

Speaker 15 (20:02):
What's even worse is if Trump didn't do anything about this.
And I'm not even talking about economical because this is
a risk. This is a gamble. We must be honest
with This is an economic gamble. There is a risk
associated with it. I think it's going to work out.
I trust Stephen Miller, and I trust Susie Wilds, and
I trust Scott Besson, and I trust Jade Vance, and

(20:23):
of course most importantly I trust President Trump. But there
is a risk. There is a gamble involved in all
of this. But the greater risk would be if you
run on tariffs and you don't apply them, that would.

Speaker 16 (20:36):
Be the end of democracy as we know it.

Speaker 15 (20:39):
That means you could pander to a constituency endlessly to
just go get their votes and you don't do it. That,
to be perfectly honest with you, is far more horrifying
and terrifying to the health of our politics than the
stock market going down. And I know the stock market
right now going down is hurting.

Speaker 16 (21:00):
A lot of people.

Speaker 15 (21:02):
And look, this could go terribly wrong. Europe and China
are gonna be the main countries that will most likely escalate.
There could be a de dollarization. A lot of our
wealth in this country is built on the fact that
we are the world's reserve currency. So this is a
high wire. This is a live wire act, one that
I support. The markets knew this was coming, and Trump

(21:22):
gave plenty of notice, and still we are seeing a
sell off. But I think back to that blue collar
guy that came up to me. So this is the
best week of politics' ever seen. In the contrast, the
people that own in the market think this is terrible.
The people that have built the country think this is wonderful.

(21:43):
I would like to think them have them both think
something is wonderful.

Speaker 16 (21:48):
However, if you look at.

Speaker 15 (21:49):
The last five years, Wall Street has done very very well.
Main Street has not done very well the last five years,
been crushed by inflation, being crushed by consumer debt. They
don't own homes, and they have been screaming at their politicians,
please listen to us, please do something for us. And
that is what Donald Trump embodied, which is why, regardless

(22:12):
of what Trump said or how they attacked him, the
working class continued to rise up in record numbers. And
how President Trump is delivering it. He is the promise
keeper president. We've seen that on the border. The idea
of these tariffs is to smoke out behavior targeted at
American exports, and some of it is direct tariffs. But

(22:34):
it's not only that. There's a lot of howling going
on right now, and some of it is understandable. A
lot of countries got used to the existing system. Well,
Trump is starting our thousand mile journey with a great,
big leap. But most importantly is he's fulfilling the promises
that he made. And you want to see a much

(22:58):
more dramatic, horrifying political moment if President Trump would have
just said, huh, just kidding, just like ever the politician,
I say one thing and do another. Instead, it's promises made,
promises kept.

Speaker 17 (23:09):
Be right back, Welcome back to this Real America's Voice
news break.

Speaker 6 (23:19):
I'm Terrence Bads.

Speaker 17 (23:21):
Dozens of countries are reportedly ready to negotiate in the
face of President Trump's tariffs. Taiwan's president, for instance, is
offering zero tariffs in return for the US dropping its
trade barriers.

Speaker 6 (23:31):
Is rarely.

Speaker 17 (23:32):
Prime Minister Benjamin at Yahoo expected to ask for a
reprieve on the seventeen percent tariffs against his country during
an oval office visit coming up here shortly. And when
it comes to China and the European Union, the President
says his tariffs are all about leveling the playing field
after being ripped off for years.

Speaker 18 (23:50):
We have massive surplus countries that we're dealing with. We
have massive deficits. We've got to strade that out because
you can't continue to be that which been that way
for years now, and it can't go on any longer.
And with the Biggiebank, we have all the advantages. Forget
markage for a second, we have all the advantages. We'll

(24:11):
get it straight out. We're going to become a wealthy
nation again, wealthy like never before.

Speaker 17 (24:17):
US customs officials are reportedly collecting the across the board
ten percent tariffs already. The higher reciprocal tariffs of between
eleven and fifty percent on individual countries are set to
take effect on Wednesday. A weekend of storms and massive
flooding have at least eighteen people dead in communities from
Texas to Ohio. Drying out and preparing for a week

(24:38):
of insurance claims. Kentucky and Tennessee are dealing with the
worst of the flooding as some rivers there have risen
to near record levels. The flooding has been brought on
by NonStop rain for days. As a result, utilities in
some areas have cut off power and gas. Emergency officials
in north central Kentucky have ordered mandatory evacuations for a

(24:59):
couple of towns near the the bend of the Lucking
River or Licking River.

Speaker 6 (25:03):
I'm sorry, that's what it's called.

Speaker 17 (25:04):
As the water continues to rise, the situation is frightening
reminder of thirty years ago when the river reached a
record fifty feet, resulting in five deaths and one thousand
homes destroyed. The World Series champion Los Angeles Dodgers take
over the White House. The team is in Washington to
play the Nationals, but first stop by the White House

(25:25):
to meet with President Trump. As this tradition, the team
gave forty seven a Dodger's jersey with his name on
it before getting a private tour of the Oval Office.
That's a great check of your headlines. We appreciate you
being here with us. Now let's get you back to
the Charlie Kirk Show.

Speaker 14 (25:53):
This movement will not be silenced. You're listening to the
Charlie Kirk Show.

Speaker 16 (26:00):
Welcome back.

Speaker 15 (26:00):
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So I have a new obsession, which is I believe

(27:33):
the fight of the twenty first century is going to
be a fight against the bureaucracy. Not just the bureaucracy
and government, but bureaucracy in general. Very similar to how
men as they get older, middle aged men develop an intractable,
seemingly irreversible beer belly middle fat. It seems as if government, churches, charities, companies,

(27:57):
and of course colleges develop that kind of mid level
management job justification paper shuffling desk worker industry. In fact,
bureaucrat literally means desk worker from its original French doge
exists to try to get rid of the bureaucracy. What
do you do here? Is the lethal weapon against bureaucracy?

(28:21):
The question of what do you do here might be
the most effective, the most effective weapon against bloat that
I have seen. Well, we have a very special guest,
someone that goes to Brown Universities who obviously he's very smart,
and he decided to do something I love.

Speaker 16 (28:41):
His name is Alex Shay. I believe that's how you
say it.

Speaker 15 (28:44):
He's Brown University class of twenty twenty seven, software engineer
and a journalist.

Speaker 16 (28:48):
So what he decided to do.

Speaker 15 (28:50):
He's a software at Brown University, which is incredibly liberal,
as you know. He decided to email three thousand and
eight hundred Brown staff members with a very simple question,
describe what tasks you performed in the past week. Shaye
said he got about twenty responses to his email, including.

Speaker 16 (29:09):
One of them was f off.

Speaker 15 (29:11):
Shae created a website called Bloat at Brown where he
listed off every employee at the school and used ai.

Speaker 19 (30:22):
That they're gonna take away Brown schedule funding because of
DEDI and anti Semitism. But this is even before that,
because Brown get this. Brown costs ninety three thousand dollars
a year for one year of college. And I know
that you say college is always a scam. Charlie but
it's seeming more and more like that these days, because
where does all this money go? That's an excellent question.

(30:44):
And it's pretty much like you said, And five non
faculty staff members. These are not These are not professors
who are teaching the classes. These are people who sit
at desks and they push around papers and nobody exactly
knows what they do because they won't tell me especially,
And so I just find that all very suspect and suspicious.

Speaker 15 (31:04):
No, I just I first saw I love this, and
I want to just say, as a macro point, when
high IQ driven young patriots like yourself get disagreeable against power,
I love it because they don't know how to deal
with it. So you've created this, I'm not We're on
radio right now, Alex, so we can't give the exact title.
But let's just say BS job subscores. Is that fair

(31:26):
to say?

Speaker 6 (31:27):
Uh?

Speaker 15 (31:27):
And so you have a you have yet you have
a you score jobs for BS jobs that waste money.
So basically, you are the customer at Brown for ninety
three thousand dollars a year. You're a journalist. You're trying
to figure out what the heck are we paying all
this money for? In Providence, Rhode Island. You are the client.
Brown employees more than four thousand, four hundred employees, but

(31:49):
fewer than one thousand are instructors of any kind. So
that means that means seventy five percent of jobs at
Brown are not instructors. What BS jobs have you found
at Brown University?

Speaker 20 (32:02):
Well, that's a great question.

Speaker 19 (32:03):
So at our website right now Bloats dot bro Inspectator
dot com, we have about forty nine people that are
dedicated to DEI rolls. Again, these are the people that
just cost Brown five hundred and ten million dollars from
the Trump administration because they're refusing to comply with the
directives about DEI. But just in general, it's like there

(32:23):
are multiple people, Charlie, that are dedicated to ad sales
for the.

Speaker 20 (32:27):
Alumni magazine, for the Alumni Meg.

Speaker 19 (32:29):
I didn't even know that the alumni magazine ran ads,
but apparently one person is not good enough for that.
You need to have multiple people running ad sales for
the alumni magazine.

Speaker 20 (32:38):
There's about seven full time people.

Speaker 19 (32:40):
That are on the alumni magazine in general, in roles
in general.

Speaker 20 (32:44):
But the funny thing is that I couldn't find that many.

Speaker 19 (32:46):
Articles that were written by these seven time, full time staffers,
because they make freelancers and students write the actual articles.
So it's just blow like that in the Alumni magazine,
in all of these various offices that as a student,
I wouldn't even think to think that we had such
a thing that that these offices existed.

Speaker 20 (33:04):
Because they don't really interact those students. They're pretty much
just behind the scenes.

Speaker 19 (33:07):
But they're raising the cost of tuition that are making
schools like Brown like again. They always say that the
Ivy League is supposed to be uh an economic ladder.

Speaker 21 (33:18):
You know that that poor kids can go to the
Ivy League schools and and they'll they'll turn out successful
in life, But that that is really being put to
the test by this enormous price tag and sort of
disregard for financial planning of any sort.

Speaker 15 (33:36):
Alex you have, there's two there's two components here. I
want to make sure recover. First, I want to go
through these spot categories and I think it's hilarious and
so astute. And then I want to talk about the
disciplinary action. And then I have a third point that
I do want to make. So you have that you
have these five buckets if you will, that you have
distilled of trying to organize what these people do.

Speaker 16 (33:54):
I want you to go through them.

Speaker 15 (33:55):
You have flunky, you have goon, duct, taper, box, ticker,
and task master.

Speaker 19 (34:02):
Explain right, So, Charlie, I know that you're a conservative,
but these categories were actually dreamt up by David Graber,
who is an anthropologist, and he's hardly conservative. He's a
left anarchist. But I think this is sort of one
of the issues really that should be apolitical, that people
at both ends of the politicals backtum should see is
that there are a lot of these people with sort
of confusing.

Speaker 20 (34:23):
Jobs and just to run through them.

Speaker 19 (34:25):
The flunkies are people like administrative assistant, but there are
a lot of assistants for these mid level bureaucrats. Why
all of these mid level bureaucrats need assistance again, is unclear.

Speaker 20 (34:36):
Are they Are they really that busy? Maybe they are,
but maybe, and.

Speaker 19 (34:39):
This is what Graver says, is that the bureaucrats are
just there to make them feel more important, and that
also seems like a very plausible explanation. Again, we can't
know for sure unless we hear from them. And that's
why we sent that email. Goons are those who sort
of fight people on behalf of the university to see
people everybody in the communications office essentially.

Speaker 15 (35:00):
I know type that is keep going yes and.

Speaker 22 (35:04):
And and in particular, the Brown spokesperson has has been
putting a lot of misinformation out about about me in
the press because he's been saying that that this site
is using confidential information.

Speaker 20 (35:17):
He's been talking that to all the reporters. And that's
not true. But we can get into that later.

Speaker 19 (35:22):
But but your your title, your job is your that's
not confidential that.

Speaker 20 (35:27):
The duct tapers are the third category.

Speaker 19 (35:29):
These are sort of people like like like like think
about like all the IT staff that is dedicated to
maintaining an upkeep of of all these various.

Speaker 20 (35:40):
Data systems like that Brown the Wi.

Speaker 19 (35:42):
Fi goes out all the time, Like all the systems
the IT t citizens are not great.

Speaker 20 (35:48):
And so instead of just having like an end to
end solution that is like a well designed system, they
just have a whole lot of IT T staff just
just sitting around fixing things when it breaks, duct taping it,
so to say, instead of just designing it well in
the first place.

Speaker 19 (36:04):
The box stickers are essentially people compliance officers, DEI officers
that just go around and and and they just essentially
check boxes to.

Speaker 20 (36:13):
See are you doing this? Are you doing this? You
don't really add any value. They're just making sure that
everybody else toes the line.

Speaker 19 (36:21):
And then the task masters are just these mid level
administrators that just boss around the lower level.

Speaker 20 (36:27):
Administrators and give them tasks. Maybe they're they're writing memos,
maybe they're drafting strategic action plans.

Speaker 19 (36:35):
How this benefits students, I don't know, but I'm sure
they think that they are very.

Speaker 16 (36:40):
Very important, and so put it.

Speaker 15 (36:45):
I think this is this is one of my favorite
like distillations. I want all of you to think about
when you send your kid to college. That so at Brown,
just to repeat, four four hundred employees at Brown, A
thousand of them are instructors of any kind. And that's
even being generous because in close teachers assistants, and a
thousand is a generous number. So there are three four
hundred people that are either flunkies, goons, duck tabers, box tickers,

(37:09):
or task masters for ninety three thousand dollars a year.
And look, this would be even more hilarious if it
wasn't tragic. And by the way, Alex, you are a
great example as to why they do not want the
IVY League to be based in merit, why they don't
want Asians or whites to come to the IVY League.

(37:29):
They just want people. You're asked too many questions. You're
way too disagreeable for them. You're like, actually, no, what
do you do here?

Speaker 16 (37:35):
What is this?

Speaker 15 (37:36):
And you're kind of doing your own micro doge one minute, Alex,
I want to keep you after the break, but one
thing I want to make sure I express then I
want to get after the break. We're going to talk
about the disciplinarian action of this. But if anyone out there,
I know someone at Harvard, I want this should be happened.

Speaker 16 (37:52):
That you should start a whole movement of this. We
should have one at Harvard.

Speaker 15 (37:55):
We should have one at Princeton, we should have one
at Yale, we should have one at Stanford where students
to start mass emailing the entire faculty and saying I
go to school here and I pay one hundred thousand
dollars a year, what did you accomplish last week? And
start organizing the entire faculty database at the school that
you are going into debt for to justify why they exist.

Speaker 16 (38:18):
This could start a mass movement.

Speaker 15 (38:20):
And by the way, I'm going to also push Linda
McMahon and the Trump administration to demand this info as well.
What do you do here and organize everybody in those
five categories, Alex Brilliant stay right there. Then we're going
to talk about the disciplinarian action of this Patriotmobile dot
com slash Charlie.

Speaker 16 (38:37):
Think about it.

Speaker 15 (38:37):
Every day you spend, every dollar you spend is either
supporting your values or working against them. In today's economy,
where you spend your money matters. That's how we take
back our country. Patriot Mobile is leading the way. Is
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Speaker 16 (38:59):
Right now, we'll go to Patriot.

Speaker 15 (39:00):
Mobile dot com slash Charlie or called nine seven two
Patriot to get a free month of service with promo
code Charlie. That is Patriot Mobile dot com slash Charlie.
So take a look at it right now at Patriot
Mobile dot com slash Charlie. Patriot Mobile dot com slash
Charlie is an amazing way that you guys are able
to make the switch to support a company that shares
your values. If you have a cell phone in out there, listen.

(39:22):
If you have a cell phone, make the switch today
at Patriotmobile dot com slash Charlie. That is Patriot Mobi
dot com slash Charlie. Stop funding Woke Wireless and go
to Patriot Mobile dot com slash Charlie. I'll tell you what.
I don't know what Alex Sheha is gonna do in
his life, but he'll be successful.

Speaker 8 (39:38):
We'll be right.

Speaker 14 (39:39):
Back the American Maid darn proud of it, The Charliekirk Show.

Speaker 16 (39:55):
Okay, everybody, welcome back.

Speaker 15 (39:56):
Email us as always freedom at Charliekirk dot com and
subscribe to our podcast.

Speaker 16 (40:00):
Just reminder.

Speaker 15 (40:01):
I'll be at University South Carolina today and then I
go to Illinois State University tomorrow and the University of
Illinois for an evening event in Urbana, Champagne. On Thursday,
I will be going to West Lafayette, Indiana Purdue University
and wrapping out the week at Michigan State University. Next
week I will be at Boise State University in beautiful Boise, Idaho.

(40:25):
And then I will also be at Washington State University
in Pullman, Washington. The week after that, I will be
in Laramie, Wyoming at the University of Wyoming for both
approved me Wrong.

Speaker 16 (40:36):
And an evening event.

Speaker 15 (40:37):
And then I'll also be at Texas A and M
University where they say Gigham and howdy. And that is
just a little bit of a taste. We have a
lot more campus stops coming. On top of that, we
have stuff coming in Boston. We have a lot more
California stops. Were not slowing down. We have to keep
the pace up.

Speaker 16 (40:56):
It is. Look, you've got to be working hard. The
left there revenue.

Speaker 15 (41:00):
They've had rallies and protests and screaming sessions across the country.
We have to do more. And then turning point USA,
we are doing more. Tyranny never sleeps, and neither do
we stay right there. Okay, the Herzog Foundation is wonderful.

(41:25):
Check it out right now. Are you rethinking your kid's
educational path, wondering if their current school truly supports your
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(41:48):
they provide the resources families need to make informed decisions.
Visit readline dot com to access musty articles, and don't
forget to sign up for the Lions daily and weekly newsletters.
That's read line dot com. Stay informs, stay equipped, and
shaped your child's future. Read line dot Com. Portions of
The Charlie Kirk Show are brought to in part by
the Herzog Foundation. Alex Shay continues with us, Alex, if

(42:10):
you guys are just joining us, is dojing Brown University,
which he's exposed me a scam? So you've done this,
so let me just make sure you email all these
facults you ask these questions. How has the university responded
to you? The university that you are paying?

Speaker 19 (42:23):
Alex Kay, right, So this has been reported pretty widely
at this point, and I'm backed by fire The Foundation
for Individual Rights and Expression, and they put out a
blog post that pretty much outlies the entire situation. But
according to what Fire is saying is Brown is pursuing
a preliminary review against me for four different charges. They're

(42:44):
saying it's emotional and psychological harm. They're saying violation of
operational rules. They're saying misrepresentation because I said I'm a
reporter for the Brown Spectator and that's not recognized by
the Student Activities office, that must mean it's misrepresented. And
the last charge is invasion of privacy again for publishing

(43:05):
people's names and job titles that Brown themself publishes on
the internet. And so again it's not really clear how
that's confidential. Now in Rhode Island, where Brown is is,
we have a state law even that called the Students
Journalist Freedom of Expression Act, which protects student journalism like
is in my case. And I think this is really
just an evidence of double standards that Brown has.

Speaker 20 (43:28):
I don't know if your.

Speaker 19 (43:29):
Audience knows this, Charlie, but Charlie Kirk is also banned
from Brown University's campus.

Speaker 20 (43:34):
This was because of an incident that happened a few
years ago where Brown told him, he couldn't film.

Speaker 19 (43:40):
And so Charlie Kirk came came to our campus and
he wasn't filming.

Speaker 20 (43:44):
He was complying to all these rules. But some other
students were filming him and those got posted online and
that was deemed to be in violation of Brown's filming policy.

Speaker 19 (43:53):
And so now Charlie is unfortunately banned from UH from
Brown's campus. But take this into accounts what Brown has
been doing with these pro Palestinian protesters in twenty twenty three,
a group of like about thirty of them or just
trespassing in an administrative building. Again, what I'm doing is speech,
what they're doing is trespassing, and they actually got arrested

(44:14):
and charged with that, and then Brown just decided to
drop the charges because they didn't want to inflame tensions
or something like that. Then when there was the encampment,
the people who were in an encampment, they stuck struck
a deal with the Brown administration that they wouldn't be
that they wouldn't be held in the normal disciplinary proceedings,
and that expulsion and suspension would be.

Speaker 20 (44:35):
Off the table for all of them.

Speaker 19 (44:36):
And again, I think this just shows that there is
a clear double standard here about how people are treated.
I mean, like myself and Charlie were it's just speech,
it's freedom of speech. But when people get into disruptive
actions and breaking actual laws, as long as they're on
the left, they're pretty much protected.

Speaker 16 (44:56):
Yeah.

Speaker 15 (44:56):
So just to be clear, if instead of asking the
people that you employ, let's they do all day long?
If you would host i don't know, like a Student's
for Justice of Palestine encampment in the middle of Brown's campus,
then that's perfectly fine.

Speaker 16 (45:10):
They would settle with you. But going around and asking blow.

Speaker 15 (45:13):
To bureaucrats that are duct taper box tickers that you employ,
what do you do all day long? You are subject
now to a disciplinary investigation Alex one minute remaining. Would
you say that Brown is a place where I don't
want to again? Scam is kind of my thing. College scam.
But how would you describe Brown now after this experience

(45:34):
to the country, to the nation, how would you categorize it?

Speaker 20 (45:38):
I think it's elitist.

Speaker 19 (45:39):
That's the way that I would sum it up is
that they're coming after people who as fou as more rightling,
like libertarians and conservatives. They don't come after the far
left the pro Palestine people who are breaking actual rules.

Speaker 20 (45:51):
And also just think about the price tag. Ninety three
thousand dollars a year.

Speaker 19 (45:55):
Financially, it's not going to cut it for a lot
of people, and so people just can't go to Brown.

Speaker 20 (45:59):
And so this is a leaders' plain and simple.

Speaker 19 (46:01):
They only want to be accessible to people that are
on the coasts that can afford this price tag and
have those trendy progressive elite for perspective.

Speaker 20 (46:10):
And if you think DEI is bad.

Speaker 19 (46:12):
Even if you just want to criticize the blows, that's
not acceptable at a place like Brown University.

Speaker 16 (46:19):
Alex, you're a good man. You're going to succeed in
whatever you want to do.

Speaker 15 (46:21):
And if you if you ever want to go work
for the real dose, I'll be happy to write you
a letter recommendation. We need super geniuses and hyper patriots
like yourself that can ask the right questions.

Speaker 16 (46:30):
And I want to just repeat this.

Speaker 15 (46:32):
I hope you find counterparts at Cornell, Yes, Dartmouth, Blake,
but I'm sure they're not as bad Columbia. There should
be doges of every single major Ivy League school, every
school in the country. And boy, I hope Brown metaphorically
metaphorically has to be Let's just say go through a

(46:52):
transformational process. I'll be kinder Alex, Thanks so much, God
bless you man.

Speaker 16 (46:57):
Second hour coming up.

Speaker 17 (47:13):
Welcome back to this Real America's Voice news break. I'm
Terrence Bates. One can argue the fountain of youth is
inside of you. The ability to slow aging and live
a healthier lifestyle is as basic as stimulating yourselves. My
next guest has made a life and a business out
of doing just that. John Jubilee is the founder of
Energized Health. He joins me this morning with more. John

(47:35):
always good to see you.

Speaker 1 (47:37):
Great to see you to terrace. So let's get right
to it.

Speaker 6 (47:40):
Cellular hydration. That really is the fountain of youth in
your estimation, but.

Speaker 11 (47:47):
It really is, Terrence. You know, think about it. Any
farmer or any gardener knows. You know, how do you
have healthy plants, How do you have a healthy farm,
How do you have a healthy garden.

Speaker 1 (47:57):
It's all about hydration, right.

Speaker 11 (47:59):
If you don't want the next thing, you know, first
it shrivels and then it dies.

Speaker 1 (48:04):
And it's the same with us, Terrence.

Speaker 11 (48:06):
If we're not hydrated, we're going to shrivel and then
we're going to be in.

Speaker 1 (48:09):
Pain, and then we're gonna die. So cellular hydration is
the fountain of youth.

Speaker 17 (48:15):
And it's a way to help people transform not only
their bodies but also their minds.

Speaker 6 (48:20):
And you and I have.

Speaker 17 (48:21):
Talked about that quite a bit, but that's also part
of the healing process. It's not just the physical, it's
also the mental. And then you can add in the spiritual.

Speaker 20 (48:29):
If you'd like, Well, it really is.

Speaker 1 (48:32):
You know, we're you know, God made us. You know,
he made us a spirit.

Speaker 11 (48:37):
You know, we live in a body, and then we
have our soul, which is our mind, our will, and
our emotions, and we need to be healthy in all
three of those. You know, think about terrence, the fact
that if somebody a lot of times, when someone loses
a spouse of many decades that they've been married to,
it's common for them to die within one year the

(48:58):
other person. And why because their mental and their spiritual
side is so sad it just.

Speaker 1 (49:06):
Wants to go be with the other person.

Speaker 11 (49:07):
And so there is such a connection between the mind,
the body, and the spirit. The average life expectancy of
someone who retires, so when they have their their life
is tied up in their work and they retire, they
die within seven years. Well, why because they lost their
purpose in life. It's not even because they had a

(49:30):
physical decline. It's because their spirit is broken from losing
its purpose and the mind is sad from and not
active anymore like it used to be on that job
every day. So we need to be healthy in our mind,
our body, and our spirit. But Terrence, I'll give you
a couple of quick numbers in the Bible.

Speaker 1 (49:47):
Here.

Speaker 11 (49:48):
You know, Abraham lived to be one hundred and seventy
five years old, and then he had a son named Isaac.

Speaker 1 (49:53):
He lived to be one hundred and eighty years old.
And then Isaac had a son named Jacob. He lived
to be one hundred and forty seven years old.

Speaker 11 (50:01):
Interesting, when I could make a case the reason that
Jacob didn't live as long he thought Joseph was dead
for fourteen years. He broke his father's heart, and so
he lived about thirty years less than his father and
his grandfather. So there is such a mind body connection
with us. We got to be a sailar level and

(50:23):
we have to be healthy at all three areas.

Speaker 17 (50:25):
Let's talk lifestyle real quickly. You've seen people get back
to doing things like hiking and biking, dancing, golfing, all
the things that they thought they had to give up
forever as a result of a body decline. So how
does cellular hydration make that possible even after years of
joint pain or fatigue or other sorts of issues.

Speaker 11 (50:45):
Well, what happens here is when we get our intersalular hydration,
we regrow our cartilage and so now our joints are
back how they were when they were seventeen years old.
So the only reason people stop hiking or dancing or
doing the things they love is because they don't have
the physical strength that they used to have. But do
you know that muscle is three parts water. It's three

(51:07):
parts water and it's one part protein. So it's three
times more important to have sailor hydration if you want
to have lean muscle than it is even to eat
protein or lift weights.

Speaker 1 (51:19):
That's the power of sailor hydration.

Speaker 11 (51:21):
And so we have clients in their eighties and nineties, Terrence,
that are gaining ten fifteen pounds of solid muscle. You know,
they're climbing seven mountains, they're running these half marathons.

Speaker 1 (51:33):
You know, we had a.

Speaker 11 (51:34):
Ninety two year old guy he won the national champion,
the rowing Championship for seventy and over at ninety two
years old. We got an eighty five year old guy
that he qualified for the pickle ball fifty five and
over eighty five years old.

Speaker 6 (51:50):
Oh my god.

Speaker 1 (51:50):
We really can be.

Speaker 11 (51:51):
Healthy and do the things we love at any age.

Speaker 1 (51:54):
But we got to get healthy at the cellular level.

Speaker 17 (51:57):
John Jubileee Energizedealth dot Com. Go there and find find
out more information. Always a pleasure, my friend. Thanks for
being here.

Speaker 23 (52:20):
All right, Welcome back everybody, live from Bitcoin dot Com Studios,
sort of remote version of it here. I'm Andrew Covid,
executive producer of the Charlie Kirk Show as and I'm
joined by the one and only Blake Neff, one of
our producers here on the show. Blake, this has been
an action packed morning when it comes to the economy, financials,

(52:43):
the tariff war, the trade war. Charlie for those wondering,
had to depart to a campus stop and so we
were lucky to kind of squeeze him in.

Speaker 8 (52:54):
Blake. You and I are going to be taking it
from here.

Speaker 23 (52:57):
We also have EJ and Tony joining us at one
thirty Eastern economists from the Heritage Foundation, so that we
have to look forward to as well. But Blake, let's
just bring our audience up to speed. What's happened in
the last few hours here. We have seen the largest
just by point, maybe not by percentage, but by points,

(53:19):
a twenty six hundred points swing on the Doubt was
down like you know, let's say, fifteen hundred points. It
swung up to as high as about eight point fifty
eight sixty based on some rumors that President Trump was
considering a ninety day pause in his tariff regime. That

(53:39):
turned out to be fake news, fake news. But in
the meantime, we've seen the market fluctuate. Currently it's down
about nine forty the Dow. But here's what I would
say to everybody out there watching wonder what the heck
is going on.

Speaker 8 (53:54):
Don't pay too close attention to the market currently.

Speaker 23 (53:59):
There is a lot of moving pieces. There is a
lot that is changing in and influx any given moment.

Speaker 8 (54:06):
So everybody just take a breath, breathe.

Speaker 23 (54:09):
Let's just assume that the market has factored a lot
of this stuff in. There will continue to be market
shifts and fluctuations. Nevertheless, we don't know where all this is.

Speaker 8 (54:23):
Going to go.

Speaker 23 (54:23):
We don't know where it's going to land. But the
sky is not falling, I assure you, despite a lot
of prognosticators and economists ataalizing on the internet, afaalizing on
business shows and the like.

Speaker 8 (54:39):
So, Blake, I want to get your take on this.

Speaker 23 (54:41):
I know that you are, let's just say, in the
spectrum of pro tariff or anti tariff, you're sort of,
I would say, somewhere in the middle. So I'm curious
about your take of what you've seen this morning. We
were on chats Sunday night basically predicting, I would say,
a much bigger market collapse than what we've ultimately seen. Now,

(55:05):
the day's not done yet, it's about we're down eight
forty as I'm looking at it right now.

Speaker 8 (55:10):
What is your take on the news that's unfolded so far.

Speaker 16 (55:13):
Well, it's been back and forth all day.

Speaker 24 (55:16):
The line I saw was when there was basically a
false report that a ninety day pause was likely or imminent,
the overall stock markets rose about true trillion dollars in
value and three yeah, three trillion maybe, And you know,
it's gone up and down, up and down all the day.
And I think probably the reason it's more moderate is

(55:37):
I think there's a greater sense that some sort of
deals are likely to be made. We have the European
Union offering to junk a bunch of tariffs. We have
Vietnam offering to eliminate all tariffs if they can make
a deal. And we have Trump saying we're basically open
to negotiating with every country that isn't China. And if
you take the US trade deficit, you know, most trade

(56:00):
the US does is not with China. So if you
reduce the range of trade war from every single country
in the world to just China, that's undoing a lot
of what we've announced in the past week. As you said,
I'm you know, more in the middle on this. I
would say, what I feel, and what a lot of
people feel concerned about, is the sense that this was

(56:22):
like just taking a giant like it was like they
wanted to pit push one single button to achieve everything
they wanted to do. You know, there's been reporting that
one of the offices in the Trump White House they
actually did go and they figured out what would a
reciprocal tariff be on every tariff on US goods, So
they you know, they look at what actual tariffs are

(56:43):
they imposing in France, what are they imposing in Vietnam,
what are they imposing in Great Britain, and so on,
and then they were going to match those point for point,
and then apparently the White House just thought that's now,
let's just go for the easiest one, and so they
did this trade deficit based calculation. And what's missing from
that is what do we say our goal here is

(57:05):
our goal is to bring more manufacturing back to America.
But when it's just like this, it's not finely tuned
to that purpose. So for example, you're not you're doing
a flat tariff on everything. You're not doing, for example,
a tariff on finished goods, but then no tariff on
raw materials that would encourage people to bring raw materials

(57:27):
into the US and then make stuff here. Instead, it's
just basically a hike on everything, very abruptly, and I
think a lot of people are very worried about what
the impact of that will be.

Speaker 6 (57:41):
Yeah.

Speaker 23 (57:41):
No, And I think that is one of the critiques
that I've heard floated that it's a you know, a
sledgehammer when a scalpel was needed, and that sort of thing.
And I will say that listen, you know, President Trump,
he did not hide that this was going to happen.

Speaker 8 (57:57):
Now, we didn't understand the details or how.

Speaker 23 (57:59):
It was going to be, you know, sort of put
into place, put into practice.

Speaker 8 (58:04):
Nevertheless, this is not a mystery.

Speaker 23 (58:06):
President Trump has been very very clear about this, and I,
you know, I happen to and I mean, Blake, you
and I have talked about this privately. I am a
true believer in this, in this strategy. I hear every
one of the pushbacks, and I absolutely, you.

Speaker 8 (58:21):
Know, disagree.

Speaker 23 (58:21):
I will say, you know, they could have done it
without so much pomp and circumstance. They could have just
done it quietly and done it country by country. I
would have been fine with that. But directionally, here's what
I mean. I completely agree that there needed to be
as Jack Posovic calls, a reset of the great reset.
We needed a reset of the way that we do

(58:43):
business with our trading partners. And I do believe that
President Trump's art of the deal brinkmanship can be unnerving
for the market.

Speaker 8 (58:52):
It can be unnerving for many people that are just
watching it. Take place. But the base that voted for
Trump wanted change, and.

Speaker 23 (59:02):
There is there are clips after clips after clips of
you know, farmers, beef ranchers that are saying yes, thank
you because all of these other countries have been able
to sell into America for years, and you know, we
haven't been able to do the same to those countries Australia, Argentina, whatever.
This is recalibrating different parts of the economy and that's

(59:26):
going to.

Speaker 8 (59:26):
Be rough and bumpy for a little while.

Speaker 23 (59:28):
But I think what is very clear after this morning
is that President Trump is dead serious Peter Navarro's Dead
series Howard Letnik is dead serious about resetting and recalibrating
a lot of these trade negotiations.

Speaker 8 (59:41):
Now, one of the.

Speaker 23 (59:42):
Pieces of news that came across the wire this morning
was out of the EU. Okay, so I'm gonna go
go ahead and play this clip. This is what I
think is a good sign, and I'll explain on the
other side of it.

Speaker 8 (59:54):
One thirty six.

Speaker 25 (59:56):
We stand ready to negotiate with the United States. Indeed,
we have offered zero for zero terriffs for industrial goods,
as we have successfully done with many other trading partners.
Because Europe is always ready for a good deal, so
we keep it on the table, but we are also
prepared to respond through countermeasures and defend our interests.

Speaker 8 (01:00:19):
So this was European commissioned President Ursula.

Speaker 23 (01:00:23):
That's quite the name Von der Leyan And she says
the EU stands ready for a zero for zero terroriff deal. Now,
you know, she makes it sound like this is something
they do all the time. Everything's fine. I don't know
why we couldn't have just, you know, gotten together and
hammered this out.

Speaker 8 (01:00:39):
Well, here's the problem.

Speaker 23 (01:00:40):
They couldn't hammer this out because the EU are really
good negotiators. The United States has been locked in by
a free trading I would say cult that sold a
lot of our workers down the river.

Speaker 8 (01:00:54):
Meanwhile, EU has been.

Speaker 23 (01:00:55):
Very strategic about protecting its industry. And so why is
she willing to say this now? Now she's willing to
say it because President Trump is playing hardball and the
world is quickly catching up to the fact that we're
not messing around. Now, Yeah, we've lost trillions in market
value over this trade war.

Speaker 8 (01:01:15):
These tariff this tariff policy to.

Speaker 23 (01:01:18):
Adjust essentially a one to one point five trillion dollar
trade deficit and a lot of people say eight trillion
dollars in market cap is not worth a one point
five trillion dollar trade deficit. You have to expand that
over years, folks, And you have to also assume the
human price that has been paid as a result over
years of these trade tariffs and these trade barriers that

(01:01:41):
these countries put up.

Speaker 8 (01:01:42):
So guess what, as soon as we.

Speaker 23 (01:01:44):
Get resolution on this, you're going to see that market
cap shoot right back up more for the Charlie Kirk
Show will be right.

Speaker 14 (01:01:50):
Back at our researchers than the CDC. Yeah, may not
be saying much. It's the Charlie Kirk.

Speaker 23 (01:02:06):
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All right, so much more to get to this hour,
so much breaking news, and again we have EJ and
Tony joined and Tony joining us at one point thirty eastern,

(01:03:49):
So you're gonna want to stick around for that great economists.
And one other point I want to make here, Blake
and I said this to the break, and we're gonna
get in the Bill Acman stuff. We when we have
the when we join back. This is if you are
worried about how many trillions, if you hear them, bring
up how many trillions has.

Speaker 8 (01:04:10):
Been wiped away in net wealth on the market.

Speaker 23 (01:04:13):
Just see you as soon as there was a ninety
day pause, three trillion dollars rush back into the market
in about ten minutes. So just everybody take a breath,
stay the course, We'll be right back, right back. Charlie

(01:04:38):
kirkshow second parce Andrew Colvitt into Charlie the Bubble Bitcoin.

Speaker 8 (01:04:43):
Dot Com Studios.

Speaker 23 (01:04:44):
I'm joined by Blake nef extraordinaire Rome historian who has
studied the fall of nations.

Speaker 8 (01:04:51):
Blake is the sky falling? What does Bill Ackman say?
Ray write down this whole Bill Ackman story for.

Speaker 24 (01:04:58):
Us, of course, of course, so Bill ac he's a
Wall Street veteran, very opinionated. He's been a guy a
very loud voice on Twitter and then X over the
past few years. He very notably was one of the
sort of He's generally mostly a Democrat donor historically, and
he is one of the most prominent voices who shifted

(01:05:18):
towards being a pretty vocal Trump supporter. In twenty twenty four,
he denounced DEI. He was very involved in attacking universities
like Harvard after the ten to seven attacks. So he's
a guy who generally in the middle has moved towards
supporting the right, probably a good barometer of like the
centrist Wall.

Speaker 8 (01:05:37):
Street money person.

Speaker 24 (01:05:39):
And he has been pretty upset about the tariff announcement,
and he's been on a tear the last couple of days.
On x He had a very long post last night
that's already over twelve million views. I can't read the
whole thing, wanted to get to a few excerpts from it.
He says that you know, the country is one hundred
percent behind President Trump on fixing a global system of

(01:06:03):
tariffs that has disadvantaged the country. But he says business
is a confidence game, and confidence depends on trust. He
continues later by placing massive and disproportionate tariffs on our
friends and our enemies alike, and thereby launching a global
economic war against the whole world at once. We are

(01:06:23):
in the process of destroying confidence in our country as
a trading partner, as a place to do business, and
as a market to invest capital. He continues further down,
what CEO and what board of directors will be comfortable
making large, long term economic commitments in the United States
in the middle of an economic nuclear war. That's the

(01:06:45):
term he uses. He says, it's not just big companies
that will suffer. Small and medium sized businesses will experience
much greater pain because almost no business can pass through
an overnight massive increase in the cost of business, and
they can't pass that on to their customers. So he's
long story short, He's saying the president has an opportunity

(01:07:07):
on Monday. He was saying this yesterday to call a
timeout and have time to execute unfixing an unfair tariff system.
And he got pretty angry because just a short time
after he posted this, he then followed up and he said,
I just figured out why Howard Lutnik in the Trump
administration is indifferent to the stock market crashing.

Speaker 16 (01:07:26):
He and Canter Fitzgerald, the company that he was.

Speaker 24 (01:07:29):
From, are long bonds. He profits when our economy implodes
it's a bad idea to pick a Secretary of Commerce
whose firm is levered on long fixed income. It is
an irreconcilable conflict of interest. And then this morning he
walked back from that, he said it was unfair of
me to lash out at Howard Lutnik. I don't think

(01:07:50):
he is pursuing his self interest. I'm sure he is
doing the best he can. It is not an easy job.
But I am just I Bill Lackman am frustrated watching
I believe to be a major policy error occur after
our country and our president have been making huge economic
progress and that is now at risk due to tariffs.

Speaker 6 (01:08:09):
So this is just.

Speaker 24 (01:08:10):
One guy, but he is speaking for a lot of people.
I think there's a lot of people who are very
anxious about what the tariff policy is. They're warning that
this will have dramatic consequences if it's not paused or
mitigated in some way, and we can see their angst
playing out in the markets every day.

Speaker 23 (01:08:28):
Well, and I will agree with Actman. I think he's
a very smart guy. I don't necessarily think he's a
true believer in sort of reforming reshaping the American economy,
especially with our trade deficits, I think he likes it.

Speaker 8 (01:08:43):
I don't know that he's got the.

Speaker 23 (01:08:47):
Guts or the true belief and the conviction to stay
the course.

Speaker 8 (01:08:53):
When it gets rocky. And I'm a little bit different
in that way.

Speaker 23 (01:08:56):
I think, you know where I will agree with him
is that business is markets need predictability, and so the
sooner that we can get to a predictable.

Speaker 8 (01:09:05):
Baseline, the better it will be long term.

Speaker 23 (01:09:07):
And so whether that baseline is the ten percent tariff
across the board, so be it, or if we're going
to have right now Trump, you know, basically what happened
with China to bring the audience up to speak with
that is we essentially had fifty.

Speaker 8 (01:09:21):
Four percent tariffs on China. They reciprocal.

Speaker 23 (01:09:23):
They came back with reciprocal tariffs or you know, retaliatory
tariffs of thirty four percent.

Speaker 8 (01:09:30):
Trump now went true social.

Speaker 23 (01:09:32):
And said, listen, we're going to hit you with an
additional tariff of fifty percent, which would essentially put the
tariff over one hundred percent on Chinese imported goods. I
think China is his number one nemesis here that he
wants to take off the chessboard, and he's playing some
high risk poker. There's no doubt about it, basically saying
China cannot survive if without being able to trade all

(01:09:57):
these goods into the United States. Now, there's going to
be other problems for us that comes along with China
having supply chain issues into.

Speaker 8 (01:10:05):
The United States. But that is the number one though
that Trump is after.

Speaker 23 (01:10:09):
It's very very clear. So I happen to think that listen,
this guy's not falling.

Speaker 8 (01:10:15):
It's gonna get bumpy, but we got to stay the
course right now, We'll be right back. Cantoni joins us.

Speaker 17 (01:10:20):
Next, Terrence Bates here with your Real America's Voice News Break.

Speaker 6 (01:10:30):
Thanks so much for joining us today.

Speaker 17 (01:10:34):
We begin with a view of the White House. President
Trump hosting his latest high profile visitor is rarely Prime
Minister Benjamin Netanyao, who arriving in the White House about
five minutes ago. You can see him pulling up in
the car here only to be met by President Trump.
The two exchanged a couple of quick nighte andry pleasantries
excuse me, before ultimately walking in the door. There at

(01:10:55):
the White House, we of course are waiting for the
two to host the news conference in the city down
here in short order, the moment that happens will take
you there live. But as you can see the two
men shaking hands here, waving to the media, and then
entering the White House where they're going to be meeting
and discussing a number of issues. We expect that they'll
talk about Iran, obviously, the situation in Gaza and the

(01:11:16):
latest tariffs that the Trump administration is put on Israel,
as well as the rest of the country. Again, a
live report from the White House coming up here in
short order will take you there. In the meantime, dozens
of countries are reportedly ready to negotiate in the face
of President Trump's tariffs. Taiwan's president is offering zero tariffs
in return for the US dropping its trade barriers, and

(01:11:37):
as I just said, Israeli Prime Minister Benjamin at Yahoo
already at the White House right now looking for a
reprieve from the seventeen percent tariffs against his country. When
it comes to China and the European Union, the President
says his tariffs are all about leveling the playing field
after being ripped off for years.

Speaker 18 (01:11:55):
We have massive surplus countries that we're dealing with. We
have massive deficities We've got to straighten that out because
you can't continue to be that Whi's been that way
for years now and it can't go on any longer.
And with the Biggie Bank, we have all the advantages.
If we get martage for a second, we have all
the advantages we'll getting straight out. We're going to become

(01:12:17):
a wealthy nation again, wealthy like never before.

Speaker 17 (01:12:22):
US customs officials are reportedly collecting the across the board
ten percent tariffs already. The higher reciprocal tariffs of between
eleven and fifty percent on individual countries are set to
take effect Wednesday, a weekend of storms. The massive flooding
have at least eighteen people dead in communities from Texas
to Ohio, drying out and preparing for a week of

(01:12:43):
insurance claims. Look at this water here. It's a mess
and lots of cities and counties are in states of
emergency right now. That's a quick check of your headlines.

Speaker 23 (01:12:53):
I'm Terrance Beads, all right, Welcome back, everybody, back to
the Mobile Bitcoin dot Com studios here. Charlie is on

(01:13:14):
the road right now, so we're filling in on this busy,
busy news day and honored to be joined by doctor E. J.

Speaker 8 (01:13:21):
And Tony.

Speaker 23 (01:13:23):
He's an economist over at Heritage. Doctor Antoni, welcome to
the show. Thanks for making some time here on a
breaking news day. Sum up for us what you are
seeing the market looks like Dow is down four to eighty.

Speaker 8 (01:13:36):
I mean it was down much lower than that.

Speaker 23 (01:13:39):
Then it was shot up to about plus eight forty
on some fake news of a ninety day pause in
the tear excuse me, in the tariff war. Now we're
back down at for four fifty something like that. We're
hearing news is about fifty plus countries that are.

Speaker 8 (01:13:53):
At the negotiating table.

Speaker 23 (01:13:54):
We've got bb net and Yahoo has just arrived at
the White House. Lots happening, make it make sense for us.

Speaker 26 (01:14:01):
Well, Andrew, thanks for having me.

Speaker 1 (01:14:02):
You know.

Speaker 27 (01:14:03):
Unfortunately, a lot that we have to go on right
now is really just rumor, and that's why there's so
much volatility in the marketplace.

Speaker 18 (01:14:10):
Now.

Speaker 27 (01:14:10):
There are a few things that we know for sure,
right Like you mentioned Benjamin Netanyaho being in town, like
that's something we can defendit.

Speaker 26 (01:14:17):
If you say is the case.

Speaker 27 (01:14:18):
But as far as nations being at the negotiating table again,
there's rumors that there's a lot more. There's rumors that
there's a lot less. We have heard some EU officials
go on the record saying that they are willing on
certain things to go to zero tariffs if the US
does as well. So again, there is definitely some good
progress here, but overall there's a lot of rumor, which

(01:14:40):
means there's a lot of volatility. Another thing that we
know for sure was that because there were so many
short positions on Wall Street, as soon as we saw
a little bit of an uptick today in stocks, there
was a rush to cover. In other words, people were
starting to buy stocks for fear that if the price
went up, they'd have to buy them at an even
higher price. Now, normally stock prices going up would be

(01:15:01):
a good thing, but in the case of a short position,
it's exactly the opposite.

Speaker 26 (01:15:04):
You're betting on things going down, not up.

Speaker 27 (01:15:07):
So whatever the case, this all caused a tremendous, tremendous
amount of not just volatility, but a huge swing. The
Dow had its biggest intra day swing ever, moving over
twenty six hundred points between its lowest and its highest
point of the trading day. And we're only halfway done
at this point. So again tons of rumors, which means
tons of volatility. Markets are looking for direction, they're looking

(01:15:29):
for definitive answers. We thought we were going to get
that last week with the tariff announcement, and unfortunately, because
of the way these tariffs have been structured, we've gotten
exactly the opposite of clear answers. We've gotten a lot
of misdirection.

Speaker 23 (01:15:43):
Yeah, I want to go into that idea of the
way these tariffs are structured, doctor and TONI because there's
been a lot of back and forth, especially on social
media about that. Some people feel that President Trump shot
too high on the tariffs, that they're not one to one,
but they say they're factoring in uh, you know, trade

(01:16:04):
deficits as well as other.

Speaker 8 (01:16:06):
Non terror related trade barriers.

Speaker 23 (01:16:09):
Basically, President Trump, if I was if I was looking
at this, I would say that he is very provably,
a very a true believer that he wants to get
equal trade meaning no trade deficit ongoing with the United
States and our trading partners.

Speaker 8 (01:16:27):
I predict that this.

Speaker 23 (01:16:28):
Is going to be a fairly long term struggle in
a trade war, if we want to use that word.

Speaker 8 (01:16:35):
What are are you seeing the same.

Speaker 23 (01:16:37):
And please comment on the way that these tariffs were
structured in the first place, where they was.

Speaker 8 (01:16:42):
It done right with the things that we could have
done better?

Speaker 27 (01:16:45):
The floor is yours, Andrews are great questions, Thank you
for asking them. And it's really something I think where
we need to set the record straight because there is
so much misinformation out there.

Speaker 26 (01:16:56):
There are way too many versions of the truth. Here,
there's only one truth. So here it is.

Speaker 27 (01:17:00):
What President Trump wanted were true reciprocal tariffs. In other words,
he wanted a kind of economic golden rule, if you will,
where we say to other countries, look, you are imposing
these tariff and non tariff barriers on us. You are
penalizing our exporters and therefore our workers, and so we're
going to do exactly the same thing to you, holding
up a mirror as it were to these other countries.

Speaker 26 (01:17:22):
That is what he tasked members of his.

Speaker 27 (01:17:25):
Administration with, like the Commerce Department, like the US Trade Representative, etc.
That was the whole reason for the delay, for example,
waiting until April second, was to give those folks time
to calculate what are the average effective tariff rates among
all these different countries around the world. Instead, what we
got was something that has literally nothing to do Let

(01:17:47):
me be perfectly clear. These tariff rates have nothing to
do with other nations tariff and non tariff barriers. They
simply looked at the ratio of imports to exports and
only looked at the imports and exports of products, not
even services. And so at the end of the day,
you're simply looking at trade deficits, and again it's just
the trade deficit in terms of goods. Unfortunately, that means

(01:18:10):
for some countries where we actually have an overall trade surplus,
maybe we sell them shoes. Excuse me, they sell us shoes,
so we're buying shoes from them, let's say. And then
maybe we turn around and sell them financial services and
they are buying much more in financial services from us.
Then we buy shoes from them. That's a trade surplus
for the United States, except that according to this formula,

(01:18:32):
it's counted as a trade deficit, and we impose a
penalty tariff rate on that country for having that trade deficit.

Speaker 26 (01:18:39):
In goods with them. That's a ludicrous trade policy.

Speaker 27 (01:18:42):
It's not going to get us what we want, which
is more free trade.

Speaker 26 (01:18:46):
That's the whole point of reciprocal tariffs.

Speaker 27 (01:18:48):
It's to force other nations to get rid of their
tariff and non tariff barriers so that just as foreign
nations have access to our consumer markets, our producers can
have access to their consumer markets. That the here we
want more free trade, not less. It's not that we're protectionists,
it's that again we want true reciprocal free trade, free

(01:19:09):
and fair trade what some people call it. And the
problem with how these tariffs are structured, because they're not
actually looking at other nations tariff and non tariff barriers,
is that we have imposed penalty rates on many countries
who don't deserve them. Why on earth is it we
have a teriff rate on Israel that's almost twice as
high as the one on Iran. Why is it that
China has a teriff rate that's just frankly middle of

(01:19:31):
the pack. They should have the highest rate among any
nation because they engage in the most trade abuses, whether
that's manipulation of the currency, subsidizing industry, and dumping artificially
low priced products in other countries markets you have slave labor.
I can go on and on, whether it's currency manipulation, etc.
The list just goes on and on when it comes

(01:19:52):
to China and all of their unfair trade practices, and
yet again they have a middle of the road tariff rate.
So the issue here is not the goal, right. President
Trump absolutely has the right goal, and I even think
that his method, if you will, or his tactic of
reciprocal tariffs was a good one. The issue here is

(01:20:13):
how that was implemented. The issue here is that he
has people within his administration who frankly have not served
him well enough, who did not provide him with the
reciprocal tariff schedule that was promised.

Speaker 26 (01:20:26):
That's the issue here.

Speaker 27 (01:20:28):
And again, if you look at market's reaction when it
was first announced we were going to have this ten
percent across the board, tariff markets actually rallied. Initially, the
futures markets went up I think about one point five
percent on that news. But then all of a sudden,
when this tariff schedule appeared where it made absolutely no sense.
These numbers clearly did not come from tariff and non
tariff barriers. That's when futures started to tumble. And then

(01:20:51):
we've had now three days basically where the markets have
really taken it on the chin.

Speaker 26 (01:20:56):
Again.

Speaker 27 (01:20:57):
This all has to do with uncertainty. People don't know
where we're gonna go from here, and that's a problem.

Speaker 8 (01:21:03):
Yeah, And I think to your point, I mean, President Trump.

Speaker 23 (01:21:07):
I believe everything that I'm seeing and everything that I've
seen from him historically is dead said on correcting a
trade deficit that we currently are experiencing. Right, let's just
play one of many clips that are out there.

Speaker 8 (01:21:21):
Let's play one oh seven.

Speaker 23 (01:21:22):
This is a twenty twelve President Trump talking about in tariffs.

Speaker 8 (01:21:26):
One oh seven.

Speaker 26 (01:21:29):
And I said, somebody said, well, what would you do?

Speaker 6 (01:21:31):
What can you do so easy?

Speaker 28 (01:21:35):
I dropped a twenty five percent tax on China. And
you know, I said to somebody that is really the messenger.

Speaker 6 (01:21:44):
The messenger is important.

Speaker 28 (01:21:46):
I could have one man say we're going to text
you twenty five percent, and I could say another, listen,
we're going to text you twenty five percent.

Speaker 23 (01:22:01):
I mean, there's tons of these clips around. So I mean,
here's what I've and he's been consistent throughout the years,
and I think he's seeing this moment as his one
opportunity where he's early on in his term to seize
this issue and push it forward.

Speaker 8 (01:22:17):
Now, I will agree that.

Speaker 23 (01:22:18):
The way it was done, I think has spooked the markets.
I think you could have done it a different way.
So let's game this out then, doctor Antoni. So where
would you like to see his strategy go from here?
Because Trump is going to claim a win one way
or the other. So that's we know politically that's going
to be part of the next step.

Speaker 8 (01:22:40):
What does he have to do to sort of.

Speaker 23 (01:22:42):
Claim plausibly that his tariff and his policies have effectuated
the change he wanted while also rewarding the markets, bringing
everybody to a stable place with predictability.

Speaker 27 (01:22:54):
Well, I think one of the key things is going
to be during these negotiating processes with different countries will
be to come up with actual average effective TIF rates.
So you look at a nation like Canada, look at
all of their teriffs, but also their non tariff barriers,
their quotas for example that they put on things like
American dairy products.

Speaker 26 (01:23:14):
You that really hurts our dairy farmers.

Speaker 27 (01:23:17):
So figure out, okay, what is the mathematical equivalent in
terms of an overall tariff?

Speaker 26 (01:23:22):
And so say to Canada, look.

Speaker 27 (01:23:24):
If you are willing to get rid of X, Y
and Z tariffs or non tariff barriers that you currently
have in place, we will reduce this tariff rate by
a certain amount. Okay, and that's your negotiating tool. But
the problem with again, with the current tariff schedule, when
there is no real relationship between those trade barriers and
the rates, some of these nations are coming to the

(01:23:46):
negotiating table with their arms up in the air saying,
we have no idea what we're supposed to do here,
We have no idea how we can actually get these
tariff rates down. So I think some further explanation from
the White House and some further clarification on what the
actual rates should look like would go a long way.
The other really big thing is that it seems like
we've kind of put the cart before the horse.

Speaker 26 (01:24:08):
In a certain sense.

Speaker 27 (01:24:10):
What this economy really needs is supply side policies. We
need drastic I mean drastic cuts to government spending, to taxes,
to regulation. We need an energy production boom in this country.
And so by getting tariffs first without all of those
other things, the American middle class who has been drowning,
it's like we just threw them an anchor without first

(01:24:32):
building them a boat. And so it is imperative that
we get things like the tax cut across the finish line.
And also what I would really like to see from Congress.
You know, this isn't just the administration's fault. Congress has
been painfully slow to act on this. So I would
love to see Congress in the reconciliation process where we
get the tax bill through, to include in that process

(01:24:54):
this ten percent kind of baseline tariff that the President
has put in place. Put that into statute, but do
it as a border adjustment tax, and that has a
lot of different advantages. First, it gives a huge benefit
to our exporters, which encourages production here, encourages manufacturing, and
encourages American jobs, which is tremendous. But it also puts

(01:25:17):
the tariff only on imports, so you're not going to
have things like the car industry where a car part
may cross the border between the US, Mexico, and Canada
half a dozen times before it goes into the final
car assembly. You don't want that to get hit with
attax every single time. So a border adjustment tax solves
a lot of those problems.

Speaker 26 (01:25:36):
And the other great thing by putting it in.

Speaker 27 (01:25:38):
Statute is the fact that now you can include that
in the calculation of the reconciliation process, so that all
the revenues can be used to reduce income taxes.

Speaker 23 (01:25:48):
Doctor Antoni got hit a brake. Stay right there, We'll
be right.

Speaker 14 (01:25:51):
Back relentless spirit. You're listening to the Charlie Kirk Show.

Speaker 8 (01:26:04):
All right, Welcome back to the Charlie Kirk Show.

Speaker 23 (01:26:06):
Andrew Covid in for Charlie, who's on his campus tour
this week. I want to welcome back doctor e j
Antoni from Heritage.

Speaker 8 (01:26:15):
Doctor Antoni, you were talking about.

Speaker 23 (01:26:17):
Something and I think it's it's as nuanced point, but
I think it's incredibly important because you brought up the
reconciliation package.

Speaker 8 (01:26:25):
Now, there was some waffling, and.

Speaker 23 (01:26:28):
I would say they Congress was attempting to water down
some of these spending cuts, the tax extending Trump's tax cuts.
There was I mean, you've got the moderates and you've
got the fiscal hawks, and I mean what we were
getting was a muddled mess. I do think one of
the unintended consequences, positive consequences of what we're seeing in

(01:26:50):
the markets is now Congress has added incentive to ensure
that we are getting the supply side relief that you're
talking about, meaning are we going to get derecation, are
we going to get are we going to.

Speaker 8 (01:27:02):
Get these tax cuts extended?

Speaker 23 (01:27:05):
Are we also going to add this ten percent baseline tariff.

Speaker 8 (01:27:09):
Or you.

Speaker 23 (01:27:13):
Categorize it a different way, But what that does is
it essentially builds in that revenue into this reconciliation package.
Continue on with that, because I think it's a really
important point that nobody's really bringing up at this point.

Speaker 26 (01:27:27):
Well, thank you, Andrew.

Speaker 27 (01:27:28):
Basically, because these different tariffs which are going to generate revenue,
these tariffs are being put in place by the executive
and not put in statute by the legislature, they can't
be counted in the reconciliation process in terms of revenue
that's going to come into the treasury. And that's so
important because under reconciliation, this is supposed to be a

(01:27:50):
process by which you take an existing budget and you
basically just tweak it. And so you're not supposed to
have drastic changes to either revenue or expenditures. You're you're
supposed to essentially have no effect.

Speaker 26 (01:28:02):
It should it should even out.

Speaker 27 (01:28:04):
So if we're going to make a change like reducing
marginal tax rates on income taxes.

Speaker 26 (01:28:09):
Which is terrific. That's a great thing.

Speaker 27 (01:28:11):
It's exactly what the economy needs, it's what the middle
class needs.

Speaker 26 (01:28:14):
They need tax relief.

Speaker 27 (01:28:16):
But now you're going to need to offset that somewhere.
And I understand the fact that there's a law for
curve effect here.

Speaker 26 (01:28:22):
In other words, as you.

Speaker 27 (01:28:23):
Reduce tax rates, that increases economic activity, which grows your
tax base. And if you grow the tax base faster
than the tax rate declines, overall tax revenue actually increases.
That's what we saw during the first Trump administration. The
problem is that's not how the Congressional Budget Office scores it,
and so you need what they sometimes call an offset

(01:28:44):
to the reduction in personal income tax rates. And a
great way to do that would be to take the
revenue that's going to come in from a tariff, a
border adjustment tax is what we really have, and then
you can you can now essentially shift of the tax
burden onto foreigners, which is great from an economic standpoint,

(01:29:04):
because there is actually an externality at play here.

Speaker 26 (01:29:08):
It is our navy that patrols the world's sea lanes.

Speaker 27 (01:29:11):
It is our navy, at our expense, that keeps the
ocean safe for international trade, and so it only makes
sense that other nations would help pay that expense, and
a great way for them to do it would be
to tax the very thing that our navy is supporting,
which again is international trade.

Speaker 8 (01:29:30):
I totally agree. I think that's really well said doctor Antoni.

Speaker 23 (01:29:34):
I want to switch gears slightly here, and this clip
was making the rounds with Secretary of Treasury Scott Besson.
He sat down with Tucker Carlston and he made this
pretty remarkable statement. Now, I want to factor in what
Scott Besson says here in this clip and then kind
of use that to understand the way the market is reacting.

(01:29:57):
Is it an overreaction? Is are the wrong people incentivized
in the wrong ways here? So let's go ahead and
play cut one twenty four.

Speaker 29 (01:30:06):
And I'm not happy with what's going on in the
market today. But the distribution of equities across households. The
top ten percent of Americans own eighty eight percent of equities,
eighty eight percent of the stop market. The next forty
owns twelve percent of the stop market. The bottom fifty

(01:30:28):
has debt, they have credit card bills, they rent their homes,
they have auto loans, and we've got to give them
some relief.

Speaker 23 (01:30:39):
So doctor Antoine, let me frame it this way. There
seems to be a disconnect between Wall Street and Main Street.
And obviously when Trump has done this tariff regiment, we
are seeing Wall Street panic. They're unsure, there's no predictability.

Speaker 8 (01:30:58):
I understand that. Night.

Speaker 23 (01:31:00):
The point is, is this recalibration of our economy a
way to make it so that Main Street finally gets
that relief and Wall Street's just going to have to
take it on the chin, or is there a way
to make them both win too.

Speaker 26 (01:31:15):
That's a great great that's a great question, Andrew.

Speaker 27 (01:31:17):
And look, it's not that we need to redistribute wealth
from Wall Street to main Street. The redistribution of wealth
is not the answer here. Instead, what we primarily want
is we want to focus on main Street growing.

Speaker 6 (01:31:30):
Now.

Speaker 27 (01:31:30):
The good news for Wall Street is the fact that
when main Street does better, wall Street will too.

Speaker 13 (01:31:35):
Right.

Speaker 27 (01:31:36):
The problem is that in this country we haven't had
that happen in a very very long time. Instead, Wall
Street has continuously to has continued to do better at
the expense of Main Street. When you have runaway inflation,
for example, what goes up in price everything. The price
of a home goes up, rent goes up, food goes up.
But you know what else goes up, equities. So stocks

(01:31:57):
appreciate in price tremendously. Those who already own homes, those
who own an apartment complex, let's say, whatever the case
may be, all of those assets are going to rise
in price. And so for the people who have essentially
already established a wealth position, they do just fine. But
everyone else, as the Secretary was just saying, they're forced

(01:32:20):
to take on a lot of debt. Homes become perpetually
out of reach. The median mortgage payment on a home
today is literally twice as high as it was four
years ago. In other words, under the Biden administration, the
median price home became twice as expensive.

Speaker 26 (01:32:37):
That's obscene.

Speaker 27 (01:32:38):
And that's why, for the first time since the Great Depression,
people think they're not going to be able to achieve
the standard of living that their parents had. So this
whole reordering of global trade is not about trying to
penalize Wall Street or force the market to tank. No,
the reason the markets are tanking right now is because
they're looking for direction.

Speaker 26 (01:32:56):
They're trying to figure out what exactly is this new
world order gonna look like.

Speaker 23 (01:33:01):
No, I totally agree. I think you're one hundred percent right.
What they want is predictability.

Speaker 8 (01:33:04):
They're not.

Speaker 23 (01:33:05):
It's almost like the market isn't rejecting tariffs on its face.

Speaker 8 (01:33:09):
What it's rejecting is can we predict what the what the.

Speaker 23 (01:33:14):
Basic operating you know, assumptions are for businesses internationally. And
by the way, just as we're talking here, doctor Antoni,
we're seeing some green. The SMP five hundred looks up,
the Nasdaq looks back up.

Speaker 8 (01:33:27):
The Dow's down two hundred. It was down much much more.
I'm not sure what the one thing.

Speaker 23 (01:33:34):
Yeah, I'm not sure what any signals causing this, but hey,
perhaps we end on a high note here, doctor Antoni.
That that you know, the guy is not falling. We're
gonna get some resolution here. Stay the course, keep your
wits about you, but your points are well made. Thank
you for making the time on a on a on
a busy breaking news day.

Speaker 8 (01:33:53):
Doctor Antoni.

Speaker 26 (01:33:55):
Oh Andrew, thank you for having me.

Speaker 23 (01:33:57):
Absolutely we'll probably have you back on this week is
as the news keeps shifting, So take a look for
text coming your way. Thank you, everybody, We'll be back
tomorrow more Charlie Kirk

Speaker 1 (01:34:09):
Mm hmmm