January 23, 2023 • 36 mins
Dems jumped to blame bigotry in California shooting... and then the Asian shooter was identified. Fox News weatherman attacked on NYC subway, Manhattan DA Bragg allows assailants to go free. Patrick Bet-David, Founder and CEO of Valuetainment and author of "Your Next Five Moves: Master the Art of Business Strategy" joins Clay and Buck to discuss the Biden economy and how to prep for an ugly 2023. Buck discovers professional slap fights.
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Episode Transcript
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Speaker 1 (00:00):
Welcome to today's edition of the Clay Travis and Buck
Sexton Show podcast. Welcome in our number two Clay Travis
buck Sexton Show. Appreciate all of you hanging out with
us as always. Encourage you to go subscribe to the podcast.
Lots of podcast originals dropping in the feed there that
you'll be able to choose, as well as listening to
(00:20):
any different hour of the show if you happen to miss.
Tens of millions of you are downloading The Clay and
Buck Show every single month, and we appreciate you guys
for doing that. Encourage you to go get signed up
as a part of twenty twenty three. So, unfortunately, we
had a mass shooting in Los Angeles over the weekend,
(00:42):
and the mass shooting was committed by a seventy two
year old Asian man who later committed suicide, and he
tried to do multiple mass shootings, but there were individuals
who stood up to him and kept the second mass
shooting from happening. The most recent number that I have
seen are that ten Asian people were killed in the
(01:05):
LA area. This story, I suspect will mostly vanish because
it does not fit the prevailing Democrat narrative based on
the weapon that was used, but also based on the
fact that the shooter was a seventy two year old
Asian person. And again we try not to name mass
shooters on this show because in many ways, the mass shooter,
(01:29):
unless the mass shooter is still at large and we're
trying to catch him, typically almost always a him, then
they are doing it to a large extent for the
media attention they get. But given that this is a shooting,
not by a white man, not by a Trump supporter,
this will almost immediately get memory hold. This story will
(01:52):
vanish because it does not fit the prevailing left wing
narrative that. However, Buck did not stop many Democrat politicians
in the immediate aftermath of this shooting, when the shooter
was still at large and there hadn't yet been a
description of who that shooter was, there was an immediate
leap to the idea that this is right wing white men,
(02:16):
maga enthusiasts who are committing mass shootings. And Buck, you've
got a few of those Democrat tweets that were out
there as soon as this story happened. Right away, you
get Chuck Schumer, for example, with you saying he's heartbroken,
he's praying for the victims. Totally fine, totally agree, absolutely
correct response, heartbroken by this horrible tragedy, praying for the victims.
(02:40):
But then at the bottom, we must stand up to
bigotry and hate wherever they rear their ugly heads, and
we must stop, I mean, we must keep working to
stop gun violence, well, bigotry and hate. It seems that
this was effectively mass murder spurred by a domestic dispute.
(03:02):
They think that he was looking for his wife, right,
and there were some and they think that he went
into some kind of jealous rage. That's from the authorities.
And as you pointed out, it's an Asian, middle aged
Asian American man who did the shooting, so it's not
a racial hate crime. Adam Schiff though, ten dead and
Monterey Park I'm sick and right. And then he writes
(03:22):
with bigotry toward AAPI individuals as a possible motive. Okay,
I mean anything is a possible motive. Why even bring
that up? Why not just wait till you have some
evidence for the motive, Like just because there were people
who are shot who happened to be of a certain
ethnicity to jump to that's probably or possibly even why
(03:46):
they were shot. Seems like a strange thing for California
congressman to do in this situation, except we know why
they do this, Clay. The point is score political points,
stick a thumb in the eye of you know on owners,
the NRA, you know whomever, and then when the actual
facts come out, just ignore. So, oh, yeah, I didn't know.
(04:07):
They do this all the time. Yeah, And the data
overwhelmingly reflects, and it's worth mentioning all the time. You are,
if you are going to be a victim of an
act of violence, especially shootings, murders, things of those nature,
almost always going to know the person who shoots you
(04:28):
really well. In other words, true acts of random violence
are rare in this country. They're also almost always if
you are white, Asian, Black, Hispanic, whatever your race and
ethnicity is, you are almost always going to be a
victim of the same race and ethnicity. So we have
(04:48):
created this weird kabuki theater style world where the only
time that shootings get a lot of attention is it
feels like to me, buck when there is a cross
racial element to them. Right. So, using it as an example,
most recent FBI data that I have seen suggests that
(05:11):
ninety four percent of all black people in the country
who are murdered are killed by members of their own race.
So basically, what is that nineteen out of twenty black
victims would be killed by black perpetrators? Yet how often
do we hear anything about a black murder by of
(05:36):
another black person? Almost never. The minute that there is
a white person involved, it becomes a huge story, and
you can say, Okay, well, why does that matter? Because
it sets the perspective out there that the number of
black victims of white criminals is massive And the reality
(05:58):
is nineteen out of twenty times when a black person
dies in this country, they are dying at the hand
of another black person. Yet how many people out there
do you think even know that stat buck? I mean
a tiny percentage, because if you judged it based on
the media, It's like we talk about the number of
police shootings period, seventy five percent of all police shootings
victim is white Asian or Hispanic only twenty five percent
(06:20):
of the time, or a police shooting victim black. Those
stats matter, But the way that our narrative shifts in
this country is creating divisions that are artificial well, the
shaping of the narrative is very apparent with misperceptions based
on the numbers and on a whole range of issues.
For example, the data that shows how many Americans believe
(06:44):
that that thousands of unarmed black men are killed by
police every year in this country is staggering. Yeah, I
mean it's something like, you know, thirty percent or twenty five,
thirty percent of people think that it's in the thousands.
And the more reality may be a Democrat, the more
likely you will leave the furthest thing from the truth.
That's right, And the Democrats, it's only far leftists that
(07:05):
have that misperception because of what is constantly being fed
to them via focus, via repetition, via the tools of
propaganda that the Democrat apparatus uses so regularly. And another
issue is what is really going on? We talk about
crime in major cities, violent crime in major cities. What's
really happening, Who's actually responsible for a majority of the crime,
(07:29):
What areas of the city is the crime happening in
and what can be done to address this to make
those cities and those neighborhoods safer for everybody. And that
includes the disproportionate number of minorities, particularly young black men
who are affected by the high crime rates because of
the involvement of other young black men in shootings, which
(07:53):
is what we're really talking about here. We're talking about
violence in cities across America that is. I mean, look,
the FBI satistic show that the African American percentage of
the homicide rate nationwide is over fifty percent, and you're
talking about about twelve I believe about twelve to fifteen
percent of the US population is black. So the Democrats
(08:16):
don't want to actually look at the failure of their policies,
their beliefs, and their narrative and how it affects all
of this. And right now, that's why you're starting to
see for the first time, I think some Democrat mayors
who they're out of excuses, they're out of options. I mean,
look in some places, maybe like San Francisco, they're so
crazy they're never going to figure this out, but they're
out of options. And so now enforcing the law in
(08:38):
more meaningful ways becomes the only option unless you just
expect people to continue to suffer with these incredibly high
rates of violence and crime. And now people will say, oh,
it's not incredibly high. Look at that. I love this, dude.
They're always shifting the goalposts, right, CLA, these cities aren't
that violent? Okay, well why were they so much less
violent three years ago? Let's start with that. When you
(08:58):
have one hundred percent in recent murders, which some of
these cities have had, I think that's something we're allowed
to be alarmed about. The fact that, you know, thirty
years ago it was much worse in some places doesn't
really matter, right, I mean, if we could have achieved
such a reduction, why should we give up the gains
that were made? Because it makes Honestly, overwhelmingly this is
(09:19):
about white rich liberals feeling good about themselves at CNN
and the Democrat fancy cocktail parties where they raise the money.
They feel good about themselves, so they push these policies
and because it gets them votes. It's also a function
of how so many people in this country are fraid
to share actual facts and data because they're afraid of
being called racist. Right. You mentioned twelve percent of population,
(09:42):
roughly twelve to thirteen percent is black. Almost all violent crime,
particularly murders, is committed by men. Right, So you can
automatically say ninety five percent or more of shootings are
going to be created by male perpetrators. So, really, when
you're the data point that you hit as an important one,
over half of all murders are committed by black people
(10:05):
in this country, right, and almost all of those murders
are committed by black men. So you're talking about roughly
six percent of the population, half of the black population,
and over fifty percent of the murders in this country
are being committed by six percent of the population. That's
pretty significant. And then you can dial it back even
(10:26):
further and say, hey, most really young men, right like
under fifteen, and most really old men and I'm not
even defining old that substantially, but over fifty commit almost
no crimes, right, So you're really talking about a tiny
subset of the American population that is committing a huge
(10:48):
portion of violent crime in this country. Basically, if you know,
men sixteen to forty commit almost all violent crime in
this country, and black men sixteen to forty commit almost
half of all violent crime as it pertains to murders
in this country, despite representing what three percent of the
overall population. So the point on this is, and you
(11:09):
know this from when you worked in the police force, buck,
the data of who you need to be policing and
who needs to be protected is not reflecting that your
average seventy five year old grandma needs to have the
long arm of the law paying attention to what she's
doing on a day to day basis. Well. Well, even
in the case of say New York City, I mean
I worked in the Intelligence Division of the NYPD. I
(11:30):
was there on a rotation, so I was never, like,
you know, a careerist there, but I was there for
about eighteen months from my time as a CIA analyst. Right,
So I'm at the NYPD on rotation, and I was
able to look at and the Intelligence division, which is
where that is the the surveillance data, number crunching, you know,
tip of the spear on that stuff, right, Not the
(11:51):
making arrests and doing that kind of stuff, but in
terms of the analysis side of the house, that's where
it's all. That's where it's done at the highest level.
And what's remarkable play as to your point about how
when you actually break down the number statistically and you
look at it, it's even smaller percentage overall of people
who are committing disproportion number of the crimes, and even
within let's say you break it down to adult male
(12:15):
Black population of New York City aged sixteen to forty,
as you did, within that subset, you're talking about a
small percentage, very small percentage. You know, I don't know
if it's you know, two percent or five percent who
are committing a vast majority of the series of violent crimes.
(12:36):
So I would I always tell people, as you look
at New York City, you've got and I'm we're going
a lot of numbers here, I'm going off hand, but
you know, the black population New York City is I believe,
well over a million. I think it's closer close to
two million. Now, maybe it's one point five something like that.
It's it's very luck you have a few thousand people,
and the police are generally generally know and have had
contact as individuals before a few thousand who are responsible
(12:59):
for a vast majority of all the serious crime. And
what the Democrats say is, don't punish those few thousand
too harshly and allow all of the rest of the
problems of lack of investment, of you know, this a
sense of being unsafe on the streets, the psychological toll
of this, all the victims and all that we have
(13:20):
to bear that cause as a society because we don't
want to be too harsh on a couple thousand people.
I mean, I think the Wallstree Journal going to break
down up. It's it's an astonishingly small number that are
responsible for a huge portion of the overall violence. And
that's what all the criminal justice reforms stuff that we
see in New York and all the veil reform is
to make things easier on this very very very small
(13:41):
group that's committing so much of the overall crime because
they think this is achieving social justice. Yeah, and it's
injuste it's unjust. Rather, it's injustice. Yeah, and we know
how to fix it. And I'm cautiously optimistic that a
lot of people have finally hit the point of so
much frustration over the rates of crime that they're going
to stop pretending that somehow it is in the interest
(14:05):
of equality and equity to protect violent criminals from being
forced to pay the consequences for their behavior. It is
also just amazing. I just have to say this at
a time when Democrats are gleeful about locking up someone
like QAnon Shaman for almost four years. Yea, a guy
with clear mental health issues who hurt physically no one
(14:28):
and as far as I know, didn't even destroy any property.
They think that's amazing, and that's a great example of
the usage of law, enforce and resources. You could look
at Larry Krasner, the DA in Philadelphia. Oh well, you
shot at somebody, but you didn't kill them. Let's give
you another chance. That's the attitude. It's just it's just
wrong folk. What they've been doing is destroying cities, destroying
cities like we mentioned, like like New Orleans, and it's
(14:51):
time that there's a reality check with all of this.
We also need a reality check with the economy, because
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(15:55):
of the Clay Travis and Buck Sexton Show. You know,
the stuff about crime really hits home, especially for a
lot of New Yorkers out there when you see these stories.
Fox News has a weather man, Adam Klotz, who was
attacked by a group of youths on the subway over
the weekend. They were harassing and threatening an elderly man.
(16:18):
So Clots who's thirty seven, steps in just says hey, guys,
can you knock that off? And they just viciously assault
him his face is all all mangled here he is
talking about a play the cut. I'm told they'll probably
get some sort of a summons and that might be
the end of it. Does that make you feel you know,
it's I mean, I want there to be something done.
It's more like, why is the weather guy on the
(16:39):
train trying to stop crime in the middle of the night, Like,
where is Eric Adams? Where's the city? Why am I
doing this? I can tell you where the city is. Play.
They caught a few, or there was a group of them.
They caught four of the However, many were attacking this guy.
And by the way, I know a lot of people think, oh,
sixteen four sixteen year olds, you know you're gonna get
You're gonna get really badly hurt, you know, fighting more
(17:01):
than one person. I know people tend to think that
they're going to be more adept in these situations than
they will. It's really hard to fight off more than
one attacker, no matter who you are. They did to
raise the age law change one of the criminal justice changes.
Clay So, the seventeen year old who bashed in this
guy's face after threatening to bash in an elderly man
on the subway, not going to touch him because they
(17:22):
just changed the law, because you know, let's not be
too hard on him. Yeah, and this is the whole
good samaritan aspect. I mean, arguably good for this guy
for standing up and trying to defend this elderly person.
But there's a lot of people out there that would
stay quiet in this scenario because they're afraid they might
end up dead. Right. I mean, if you try to
step in and protect somebody in one of these kids
(17:43):
has a knife for a gun, next thing you know,
you're dead. And here's even saving somebody. This is even
scarier in some ways than the basic premise there, Clay.
What if these kids all attack him and they come
out and they say he yelled a racial epithet of us.
You'll have Al Sharpton and the whole machine January protesting
that these kids were it was not you know, that
wasn't their fault and it was racism and whatever. They
(18:05):
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are joined now by Patrick beat David, founder and CEO
of Value Tainment. He's got a book out, Your Next
Five Moves Master the Art of Business Strategy. Appreciate you
(19:12):
joining us, Patrick and Bucket. I have been trying to
follow the story here of the economy, as I'm sure
many of our listeners have. As we roll into twenty
twenty three. What do you see out there on the horizon?
What do you expect twenty twenty three to look like
from a business perspective? And thanks for making the time
for us. Well, first of all, thanks for having me.
(19:33):
I'll love the work you guys are doing. But yeah,
I'll give you a couple data points for the listener
to be thinking about. This is what concerns me. So
if we're looking at the Biden economy and purely his resume.
He gives the inauguration speech January twenty to twenty twenty one,
which is roughly two years ago. To be exact, it's
(19:54):
three days two years ago. He gets it, gives a
speech two months later, twenty twenty one. We have the
one twenty nine trillion relief build that they're very excited about.
The next couple of months, all we hear about that
the US savings rate hit twenty six percent. Everybody was celebrating.
(20:15):
You see how great of an idea this is. We
got to send more money to the American people. Look
what's happening. People are not spending their money, They're saving
their money. Savings rate twenty six percent, which is beautiful.
Everybody was bragging about it. Well, fast forward to today.
At that time was twenty six percent. Today, current savings
(20:36):
rate is the worst it's been in seventeen years. That's
two point four percent is what we have today. Here's
another data to be thinking about. Just a year ago
Q four of last year, so Q four is October
November December, we had roughly seven hundred and fifty billion
dollars of credit card debt. Okay, we're talking thirteen months ago.
That is not a long time ago. We went from
(20:59):
seven hundred fifty million dollars and credit card debt, so
nine hundred and twenty six billion dollars in credit card debt.
We're about to cross a trillion dollars for the first
time ever in the history of US and credit card debt,
and everybody's talking about the national debt thirty one trillion.
You know, a lot of times when people say that
kind of stuff, the average family and the worker doesn't
really feel it. They're like, yeah, you know, I can
(21:20):
go on the death clock and kind of see that website.
But we definitely do feel the credit card debt in
ways we've never seen before. So that's one data that
concerns me tremendously. When you see sales at ninety nine
cent stores being up eighty percent year over year. That
means people are no longer going and buying stuff that
(21:40):
they were at the regular place. They're going to places
that are discounted. Is a sign that they're not able
to afford things. And the last, but not least, on
this topic to be looking at when you're thinking about this.
So everybody was branking last year about we'll look at this.
I understand what they're talking about with inflation and what
they're doing with inflation, but you've got to look at unemployment.
(22:01):
Look how quat the numbers are at unemployment. Look how
awesome it is. The economy is doing great. The economy
is doing great. If that was the SoundBite last year,
I would love to see them use that same SoundBite
que three of this year, when unemployment takes a hit,
they will not be talking about that. So in regards
to twenty twenty three, unfortunately, it's not looking good. The
(22:24):
policies are not making the American economy better than it
was two years ago or three years ago. Hey, Patrick,
it's buck really appreciate you being with us and for
everyone you should check out the Pat Patrick Bet David
Show PbD Show, which is an excellent podcast Patrick, What
does it mean when you're trying to figure out what
the indicators would be if things are about to get
(22:46):
ugly in the economy? You know, what are the worry
signs you laid out for us? What you gave us
is the data of where we already are. If we're
looking out three months, six months and we're going to ahead,
people are saying we're already in some form of recession.
But if we go into something more like a Biden depression,
what are you looking for? Excellent questions? So think about
it this way. Collectively, beginning of twenty twenty one, US Americans,
(23:12):
if we put all our networks together, we were roughly
worth two point one trillion dollars. That's how much cash
we add, specifically cash, not network. Let me correct that,
specifically cash. We collectively had two point one trillion dollars
in cash. Okay, that's Q one of last year. Second
quarter that dropped from two point one to one point nine,
(23:34):
third quarter to one point six, and we're getting close
to one point three trillion dollars of savings. That is,
losing nearly a trillion dollars of cash in twelve months.
So what does that mean? Why is that such a concern.
Here's what it means. Rates went up. I want to say,
fourteen months ago, not even fourth Yeah, fourteen months ago,
(23:54):
we could get a nice three percent interest rates. I've
even got two point eight five or thirty or fixed
mortgage payment is not a big mortgage payment. You can
afford that everything was good. Property value hasn't dropped significantly
yet because people are still sitting on cash. Meaning say
somebody owns a seven hundred thousand dollars house and it
(24:14):
was seven hundred thousand dollars fourteen months ago, but they're
sitting on one hundred thousand dollars of cash, and now
it's eighty thousand out sixty thousand. Now it's forty five thousand,
Now it's thirty eight thousand. Now, husband and wife are
sitting there talking to each other, saying, Babe, we're trying
to sell this house. No one's biting at seven hundred
and fifty thousand. Let's lower to seven hundred, let's lower
(24:35):
to six to fifty. Babe, we may need to sell
this thing for five to eighty and then boom if
dumps at five eighty, how do I know that. I'll
give you a perfect example myself eight months ago. I
want to look at this local building here in four
law to doll the owners. It's a multi billion dollar company.
They kind of want this building to be off their
balance sheet. There's sixty million dollars into this building. I
(24:56):
go in. They're like, look, we're trying to get rid
of it. Buyers don't want to see. We're willing to
dump it at thirty two million. Guy. I said, I'm
not paying you thirty two million. I'll offer twenty six million.
They walk. I get a call this week. This week
they come up to me and they say, Patrick, we'll
sell it to you right now for twenty million, but
we need this thing to get done within four weeks.
And I said, I'll give you fifteen million dollars for it.
(25:17):
And they're entertaining the idea. By the way, they're entertaining
the idea. So if the big money people are willing
to take those kinds of losses because they want debt
off the balance sheet, we're about to experience Middle America
folks who are living in five hundred eight hundred, seven
hundred thousand dollars homes or million dollar homes. We're gonna
start seeing people saying, you know, that thing we thought
(25:39):
was worth a million, maybe it's really only worth eight fifty.
So that's what's going to be experienced now because people
are running out of cash. So this is fascinating because
Buck and I have talked a lot about this. There's
a lot of people out there who are just staying
in their homes because they have a three percent mortgage
or eight and they don't want to have to pay
six and a half or seven to be able to move.
(26:01):
And at some point that all starts to add up.
I think we've had whatever it is, eleven straight months
of declining home sales and a lot of people, you
know this, Patrick, huge percentage people out there listening to
us right now. Their net worth is very often tied
up into their homes. And in that what you're discussing,
at least in your head, you get those zero emails
(26:23):
and the value of your home is higher than what
you paid, and so psychologically for past few years you've
been able to use that home as a piggy bank.
How does this rectify itself? So if what you're talking about,
people are trying there's a flight to quality, basically a
flight to cash, how does this spiral. What happens in
your mind in twenty three as we moved through this year, Well,
(26:44):
it's not going to be a pretty year. I mean,
I think everybody. It's funny because when you talk to realtors,
just the best ways to find out how the industry
is going to do. Call realtors and ask them, what
is your indication, what is your prediction of what's going
to happen to the market in twenty twenty three. Here's
what they'll say, We're expecting a flat year. If realtors
(27:05):
who are in the business of being optimistic tell you
they're expecting a flat year, you know what it means.
They're expecting twenty to thirty percent drop off, right, because
typically realtors are always very motivational, very optimistic, very excited.
So that part is given math. You cannot fight math.
Math is math. When our savings goes to the levels
that it goes to, you know, people panic, We don't
(27:27):
do well when we don't have money in the bank.
We come from a concerned place. My suggestion and my
thought is more towards solution. I remember when I was
working on Morgan Stanley Dean Whider. My first day with them,
was nine ten oh one. My second day at Morgan
Stanley Dean Widder was nine to eleven. So we're talking.
First day, everybody's excited. This is going to be great.
(27:49):
You're officially a stockbroker. Next day, people are afraid to
answer the phones. And if you remember when we shut
down the stock market because they were worried it was
going to just plunge the next day. And then they
shut it down. The market was clothed, brokers weren't working.
I sat there and I said, oh my god, what
are we going to be doing? So that was kind
of a case study to see what happened. A documentary
(28:11):
came out at the time by the former Controller General
of US, David Walker. He's in it, and then Warren
buffets in it. And in the documentary a lady asks
the following question, which is which I think this is
the most important part. She says, Listen, Warren, I'm a mother,
I have three kids. I'm so worried. What do I do?
(28:33):
How do I pay the bills? If America's did is
at this situation, we owe this much money, here's what's
going How do I handle myself? I don't know what
to do and Warren said something very powerful and I'll
never forget this. The biggest insurance policy the individual can
have in an economy like this, He says, Listen, there's
always a demand for experts. There's always a demand for
(28:55):
people who are very very good at what they do.
Meaning if somebody is listening to this and this color,
they're probably like, listen, clay Buck, why do'd you guys
bring this? Guys depressing right now? He's right, saving is this,
I'm not optimistic about it. To that color. You have
to figure out a way to learn and a new
skill set or two or three or four or five
or whatever you're in, become an expert in it. Because
(29:18):
tens of thousands of jobs we're seeing fifty five thousand
jobs in technology right now, we're not even feeling the
bed bath and beyond, which many of us have been
to bed bath and beyond, maybe by a choice, maybe
by force, they just went bankrupt. There's gonna be a
lot of stories like that. So the individual, rather than
sitting there panic in whatever job you're in, do whatever
you can to become an expert, improve yourself, learn new
(29:41):
ways of taking care of your customers so you're more
competitive in the marketplace. That doesn't mean the next twelve
months is not going to be is going to be
pretty It doesn't. It just means when this two shell
path and we're going to twenty twenty four, twenty twenty five,
by that time you'll be recovered, and then five ten
years from now, when this happens again, you'll be ready
for the next crisis. Unfortunately, it's too late. If you
(30:03):
weren't ready for this one, this is now an indicator
for us to be prepared for the next one. Check
out everybody the p b D podcast, Patrick Bet David Patrick.
We got to have you back for one of our
long forms because we've got to go to station break
now because it's radio, but we'd love to talk to
you on the podcast side. So thank you so much
for being with us. Thanks fellas, Thank you, Take care,
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miss a minute of Clay in Buck and get behind
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the scene access to special content for members only. Subscribe
to C and B twenty four to seven. I am
like a character in the Matrix. Clay is like a
character in Matrix. Where online in the interwebs space all
the time looking at stuff, trying to find all the
most interesting stories and clips and cuts and you know,
(31:51):
hottakes and you name it. And it is rare that
I find myself seeing something that has gone totally viral
where my response is just what the heck is this?
And I had one of those over the weekend, right.
I mean, you know, you'll see things that are surprising
or crazier or whatever in the general news sense. But Clay,
(32:11):
I came upon something I did not. I had no
idea this was a thing that even existed. I had
never heard of this before, and it does, I believe,
roughly fall into the realm of sport. So I wanted
to ask you about this. I saw a video of
like burly dudes standing across like like, you know, what's
(32:34):
the show Family Feud? Like they're at a family Feud
podium and they're gonna be like, hey, like things you
take with you to the store, But instead they are slapping.
They literally slapping the you know what out of each other.
They're actually slapping each other as hard as they cat
across the face. And this is apparently some kind of
(32:55):
a league. Now it's like MMA, but with slapping only
what Clay, what is going on? So Dana White, who
runs the UFC, is behind this, and I believe it
airs on TBS. It's only been out for a couple
of weeks now, but you're right, they basically stand. It's
almost if you remember, I'm sure you do, because a
(33:17):
nice to the top the arm wrestling competition where they
stand basically on the little you know, there's a little
kind of table in between them. And I've watched it
a little bit because the guys are getting knocked out
by the slaps. I don't understand how it isn't beyond
a significant factor who gets to slap first, right, because
(33:42):
it's like a duel. If you shoot first, you a
lot of times have an advantage. And if you take
one of these slaps, even if you aren't knocked down,
it has to diminish your ability to give as hard
of a slap back once you've taken one yourself. But
I mean, I saw a Dan slap for people open
(34:04):
hand slaps. I saw this because you know, I saw
this Cliff and I said, wait, is this really a thing?
And this I didn't know this is a Dana White thing,
and that it's a league now, But there were some
guy who was just I mean, the side of his
face looked like like a pufferfish, like a blowfish, you know,
like it was just swelling and swelling up. And I'm like,
and he keeps getting whacked on that side of the face.
(34:26):
And there's I mean, there's video of some other guy
who gets knocked out cold and his hands are kind
of shaking. People are saying that could be a sign
of neurological damage, Like is this catching on or people
are people, you know, in enjoying this is what is
happening in the way. I don't know what the long
standing success or failure of this will be, but you know,
(34:48):
one of the great all time business moves was the
UFC in the nineties was bought for two million dollars
I believe by the Fatida brothers two million, and then
they sold it for four billion, if I'm not mistaken,
to Endeavor, the big Hollywood talent agency. And honestly, it's
(35:10):
been a super brilliant move by Endeavor to buy it
for four billion dollars. And the reason why you could
buy it for two million dollars buck was because at
that time John McCain and people like him were saying
that UFC was human cockfighting, and they went and they
got it, regulated weight classes, all these other things, and
now the UFC is very much like boxing. When I
(35:32):
watched this slap fight stuff, I can't help but think
you're one hit away from basically the sport ending forever, right,
because if you, I cannot imagine how much you'd have
to pay me to take one of these slaps from
these guys, because I think I would. I don't think
there's an amount of I don't think there's any because
when you finally people are thinking it's not a slap,
(35:54):
like a stage slap back in the lap, which was
not to think of like a like a two hundred
and eighty pound guy named Oleg who just showed up
from Siberia who is winding up with the full force
of his arm and the noise and you can see
and slow people do these slow motion videos too, where
the whole face kind of shakes. I mean, it's clay.
(36:15):
It's the craziest thing I've ever seen that's supposed to
be somehow kind of normal. Yeah, I don't know whether
it's going to last because I think it might be
too vile because at least in the UFC or boxing,
there is the concept of keeping your gloves up and
protecting yourself in some way. This is it's a lot
(36:35):
like dueling because you just have to stand there and
take it and you just take the punishment. Though. Right
in UFC, if someone gets you know, if they can't
defend themselves and they're not you know, they jump in
and they stop the fight, stop it. Yeah, this is
just straight up punishment. Oh, it's crazy, it's it's absolutely bananas.
Welcome to today's edition of the Clay Travis and Buck
Sexton Show podcast. Welcome in our number two Clay Travis
buck Sexton Show. Appreciate all of you hanging out with
us as always. Encourage you to go subscribe to the podcast.
Lots of podcast originals dropping in the feed there that
you'll be able to choose, as well as listening to
(00:20):
any different hour of the show if you happen to miss.
Tens of millions of you are downloading The Clay and
Buck Show every single month, and we appreciate you guys
for doing that. Encourage you to go get signed up
as a part of twenty twenty three. So, unfortunately, we
had a mass shooting in Los Angeles over the weekend,
(00:42):
and the mass shooting was committed by a seventy two
year old Asian man who later committed suicide, and he
tried to do multiple mass shootings, but there were individuals
who stood up to him and kept the second mass
shooting from happening. The most recent number that I have
seen are that ten Asian people were killed in the
(01:05):
LA area. This story, I suspect will mostly vanish because
it does not fit the prevailing Democrat narrative based on
the weapon that was used, but also based on the
fact that the shooter was a seventy two year old
Asian person. And again we try not to name mass
shooters on this show because in many ways, the mass shooter,
(01:29):
unless the mass shooter is still at large and we're
trying to catch him, typically almost always a him, then
they are doing it to a large extent for the
media attention they get. But given that this is a shooting,
not by a white man, not by a Trump supporter,
this will almost immediately get memory hold. This story will
(01:52):
vanish because it does not fit the prevailing left wing
narrative that. However, Buck did not stop many Democrat politicians
in the immediate aftermath of this shooting, when the shooter
was still at large and there hadn't yet been a
description of who that shooter was, there was an immediate
leap to the idea that this is right wing white men,
(02:16):
maga enthusiasts who are committing mass shootings. And Buck, you've
got a few of those Democrat tweets that were out
there as soon as this story happened. Right away, you
get Chuck Schumer, for example, with you saying he's heartbroken,
he's praying for the victims. Totally fine, totally agree, absolutely
correct response, heartbroken by this horrible tragedy, praying for the victims.
(02:40):
But then at the bottom, we must stand up to
bigotry and hate wherever they rear their ugly heads, and
we must stop, I mean, we must keep working to
stop gun violence, well, bigotry and hate. It seems that
this was effectively mass murder spurred by a domestic dispute.
(03:02):
They think that he was looking for his wife, right,
and there were some and they think that he went
into some kind of jealous rage. That's from the authorities.
And as you pointed out, it's an Asian, middle aged
Asian American man who did the shooting, so it's not
a racial hate crime. Adam Schiff though, ten dead and
Monterey Park I'm sick and right. And then he writes
(03:22):
with bigotry toward AAPI individuals as a possible motive. Okay,
I mean anything is a possible motive. Why even bring
that up? Why not just wait till you have some
evidence for the motive, Like just because there were people
who are shot who happened to be of a certain
ethnicity to jump to that's probably or possibly even why
(03:46):
they were shot. Seems like a strange thing for California
congressman to do in this situation, except we know why
they do this, Clay. The point is score political points,
stick a thumb in the eye of you know on owners,
the NRA, you know whomever, and then when the actual
facts come out, just ignore. So, oh, yeah, I didn't know.
(04:07):
They do this all the time. Yeah, And the data
overwhelmingly reflects, and it's worth mentioning all the time. You are,
if you are going to be a victim of an
act of violence, especially shootings, murders, things of those nature,
almost always going to know the person who shoots you
(04:28):
really well. In other words, true acts of random violence
are rare in this country. They're also almost always if
you are white, Asian, Black, Hispanic, whatever your race and
ethnicity is, you are almost always going to be a
victim of the same race and ethnicity. So we have
(04:48):
created this weird kabuki theater style world where the only
time that shootings get a lot of attention is it
feels like to me, buck when there is a cross
racial element to them. Right. So, using it as an example,
most recent FBI data that I have seen suggests that
(05:11):
ninety four percent of all black people in the country
who are murdered are killed by members of their own race.
So basically, what is that nineteen out of twenty black
victims would be killed by black perpetrators? Yet how often
do we hear anything about a black murder by of
(05:36):
another black person? Almost never. The minute that there is
a white person involved, it becomes a huge story, and
you can say, Okay, well, why does that matter? Because
it sets the perspective out there that the number of
black victims of white criminals is massive And the reality
(05:58):
is nineteen out of twenty times when a black person
dies in this country, they are dying at the hand
of another black person. Yet how many people out there
do you think even know that stat buck? I mean
a tiny percentage, because if you judged it based on
the media, It's like we talk about the number of
police shootings period, seventy five percent of all police shootings
victim is white Asian or Hispanic only twenty five percent
(06:20):
of the time, or a police shooting victim black. Those
stats matter, But the way that our narrative shifts in
this country is creating divisions that are artificial well, the
shaping of the narrative is very apparent with misperceptions based
on the numbers and on a whole range of issues.
For example, the data that shows how many Americans believe
(06:44):
that that thousands of unarmed black men are killed by
police every year in this country is staggering. Yeah, I
mean it's something like, you know, thirty percent or twenty five,
thirty percent of people think that it's in the thousands.
And the more reality may be a Democrat, the more
likely you will leave the furthest thing from the truth.
That's right, And the Democrats, it's only far leftists that
(07:05):
have that misperception because of what is constantly being fed
to them via focus, via repetition, via the tools of
propaganda that the Democrat apparatus uses so regularly. And another
issue is what is really going on? We talk about
crime in major cities, violent crime in major cities. What's
really happening, Who's actually responsible for a majority of the crime,
(07:29):
What areas of the city is the crime happening in
and what can be done to address this to make
those cities and those neighborhoods safer for everybody. And that
includes the disproportionate number of minorities, particularly young black men
who are affected by the high crime rates because of
the involvement of other young black men in shootings, which
(07:53):
is what we're really talking about here. We're talking about
violence in cities across America that is. I mean, look,
the FBI satistic show that the African American percentage of
the homicide rate nationwide is over fifty percent, and you're
talking about about twelve I believe about twelve to fifteen
percent of the US population is black. So the Democrats
(08:16):
don't want to actually look at the failure of their policies,
their beliefs, and their narrative and how it affects all
of this. And right now, that's why you're starting to
see for the first time, I think some Democrat mayors
who they're out of excuses, they're out of options. I mean,
look in some places, maybe like San Francisco, they're so
crazy they're never going to figure this out, but they're
out of options. And so now enforcing the law in
(08:38):
more meaningful ways becomes the only option unless you just
expect people to continue to suffer with these incredibly high
rates of violence and crime. And now people will say, oh,
it's not incredibly high. Look at that. I love this, dude.
They're always shifting the goalposts, right, CLA, these cities aren't
that violent? Okay, well why were they so much less
violent three years ago? Let's start with that. When you
(08:58):
have one hundred percent in recent murders, which some of
these cities have had, I think that's something we're allowed
to be alarmed about. The fact that, you know, thirty
years ago it was much worse in some places doesn't
really matter, right, I mean, if we could have achieved
such a reduction, why should we give up the gains
that were made? Because it makes Honestly, overwhelmingly this is
(09:19):
about white rich liberals feeling good about themselves at CNN
and the Democrat fancy cocktail parties where they raise the money.
They feel good about themselves, so they push these policies
and because it gets them votes. It's also a function
of how so many people in this country are fraid
to share actual facts and data because they're afraid of
being called racist. Right. You mentioned twelve percent of population,
(09:42):
roughly twelve to thirteen percent is black. Almost all violent crime,
particularly murders, is committed by men. Right, So you can
automatically say ninety five percent or more of shootings are
going to be created by male perpetrators. So, really, when
you're the data point that you hit as an important one,
over half of all murders are committed by black people
(10:05):
in this country, right, and almost all of those murders
are committed by black men. So you're talking about roughly
six percent of the population, half of the black population,
and over fifty percent of the murders in this country
are being committed by six percent of the population. That's
pretty significant. And then you can dial it back even
(10:26):
further and say, hey, most really young men, right like
under fifteen, and most really old men and I'm not
even defining old that substantially, but over fifty commit almost
no crimes, right, So you're really talking about a tiny
subset of the American population that is committing a huge
(10:48):
portion of violent crime in this country. Basically, if you know,
men sixteen to forty commit almost all violent crime in
this country, and black men sixteen to forty commit almost
half of all violent crime as it pertains to murders
in this country, despite representing what three percent of the
overall population. So the point on this is, and you
(11:09):
know this from when you worked in the police force, buck,
the data of who you need to be policing and
who needs to be protected is not reflecting that your
average seventy five year old grandma needs to have the
long arm of the law paying attention to what she's
doing on a day to day basis. Well. Well, even
in the case of say New York City, I mean
I worked in the Intelligence Division of the NYPD. I
(11:30):
was there on a rotation, so I was never, like,
you know, a careerist there, but I was there for
about eighteen months from my time as a CIA analyst. Right,
So I'm at the NYPD on rotation, and I was
able to look at and the Intelligence division, which is
where that is the the surveillance data, number crunching, you know,
tip of the spear on that stuff, right, Not the
(11:51):
making arrests and doing that kind of stuff, but in
terms of the analysis side of the house, that's where
it's all. That's where it's done at the highest level.
And what's remarkable play as to your point about how
when you actually break down the number statistically and you
look at it, it's even smaller percentage overall of people
who are committing disproportion number of the crimes, and even
within let's say you break it down to adult male
(12:15):
Black population of New York City aged sixteen to forty,
as you did, within that subset, you're talking about a
small percentage, very small percentage. You know, I don't know
if it's you know, two percent or five percent who
are committing a vast majority of the series of violent crimes.
(12:36):
So I would I always tell people, as you look
at New York City, you've got and I'm we're going
a lot of numbers here, I'm going off hand, but
you know, the black population New York City is I believe,
well over a million. I think it's closer close to
two million. Now, maybe it's one point five something like that.
It's it's very luck you have a few thousand people,
and the police are generally generally know and have had
contact as individuals before a few thousand who are responsible
(12:59):
for a vast majority of all the serious crime. And
what the Democrats say is, don't punish those few thousand
too harshly and allow all of the rest of the
problems of lack of investment, of you know, this a
sense of being unsafe on the streets, the psychological toll
of this, all the victims and all that we have
(13:20):
to bear that cause as a society because we don't
want to be too harsh on a couple thousand people.
I mean, I think the Wallstree Journal going to break
down up. It's it's an astonishingly small number that are
responsible for a huge portion of the overall violence. And
that's what all the criminal justice reforms stuff that we
see in New York and all the veil reform is
to make things easier on this very very very small
(13:41):
group that's committing so much of the overall crime because
they think this is achieving social justice. Yeah, and it's
injuste it's unjust. Rather, it's injustice. Yeah, and we know
how to fix it. And I'm cautiously optimistic that a
lot of people have finally hit the point of so
much frustration over the rates of crime that they're going
to stop pretending that somehow it is in the interest
(14:05):
of equality and equity to protect violent criminals from being
forced to pay the consequences for their behavior. It is
also just amazing. I just have to say this at
a time when Democrats are gleeful about locking up someone
like QAnon Shaman for almost four years. Yea, a guy
with clear mental health issues who hurt physically no one
(14:28):
and as far as I know, didn't even destroy any property.
They think that's amazing, and that's a great example of
the usage of law, enforce and resources. You could look
at Larry Krasner, the DA in Philadelphia. Oh well, you
shot at somebody, but you didn't kill them. Let's give
you another chance. That's the attitude. It's just it's just
wrong folk. What they've been doing is destroying cities, destroying
cities like we mentioned, like like New Orleans, and it's
(14:51):
time that there's a reality check with all of this.
We also need a reality check with the economy, because
what's it going to do this year? Who knows. I
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(15:55):
of the Clay Travis and Buck Sexton Show. You know,
the stuff about crime really hits home, especially for a
lot of New Yorkers out there when you see these stories.
Fox News has a weather man, Adam Klotz, who was
attacked by a group of youths on the subway over
the weekend. They were harassing and threatening an elderly man.
(16:18):
So Clots who's thirty seven, steps in just says hey, guys,
can you knock that off? And they just viciously assault
him his face is all all mangled here he is
talking about a play the cut. I'm told they'll probably
get some sort of a summons and that might be
the end of it. Does that make you feel you know,
it's I mean, I want there to be something done.
It's more like, why is the weather guy on the
(16:39):
train trying to stop crime in the middle of the night, Like,
where is Eric Adams? Where's the city? Why am I
doing this? I can tell you where the city is. Play.
They caught a few, or there was a group of them.
They caught four of the However, many were attacking this guy.
And by the way, I know a lot of people think, oh,
sixteen four sixteen year olds, you know you're gonna get
You're gonna get really badly hurt, you know, fighting more
(17:01):
than one person. I know people tend to think that
they're going to be more adept in these situations than
they will. It's really hard to fight off more than
one attacker, no matter who you are. They did to
raise the age law change one of the criminal justice changes.
Clay So, the seventeen year old who bashed in this
guy's face after threatening to bash in an elderly man
on the subway, not going to touch him because they
(17:22):
just changed the law, because you know, let's not be
too hard on him. Yeah, and this is the whole
good samaritan aspect. I mean, arguably good for this guy
for standing up and trying to defend this elderly person.
But there's a lot of people out there that would
stay quiet in this scenario because they're afraid they might
end up dead. Right. I mean, if you try to
step in and protect somebody in one of these kids
(17:43):
has a knife for a gun, next thing you know,
you're dead. And here's even saving somebody. This is even
scarier in some ways than the basic premise there, Clay.
What if these kids all attack him and they come
out and they say he yelled a racial epithet of us.
You'll have Al Sharpton and the whole machine January protesting
that these kids were it was not you know, that
wasn't their fault and it was racism and whatever. They
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didn't do anything. That's that'll be the argument, and a
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are joined now by Patrick beat David, founder and CEO
of Value Tainment. He's got a book out, Your Next
Five Moves Master the Art of Business Strategy. Appreciate you
(19:12):
joining us, Patrick and Bucket. I have been trying to
follow the story here of the economy, as I'm sure
many of our listeners have. As we roll into twenty
twenty three. What do you see out there on the horizon?
What do you expect twenty twenty three to look like
from a business perspective? And thanks for making the time
for us. Well, first of all, thanks for having me.
(19:33):
I'll love the work you guys are doing. But yeah,
I'll give you a couple data points for the listener
to be thinking about. This is what concerns me. So
if we're looking at the Biden economy and purely his resume.
He gives the inauguration speech January twenty to twenty twenty one,
which is roughly two years ago. To be exact, it's
(19:54):
three days two years ago. He gets it, gives a
speech two months later, twenty twenty one. We have the
one twenty nine trillion relief build that they're very excited about.
The next couple of months, all we hear about that
the US savings rate hit twenty six percent. Everybody was celebrating.
(20:15):
You see how great of an idea this is. We
got to send more money to the American people. Look
what's happening. People are not spending their money, They're saving
their money. Savings rate twenty six percent, which is beautiful.
Everybody was bragging about it. Well, fast forward to today.
At that time was twenty six percent. Today, current savings
(20:36):
rate is the worst it's been in seventeen years. That's
two point four percent is what we have today. Here's
another data to be thinking about. Just a year ago
Q four of last year, so Q four is October
November December, we had roughly seven hundred and fifty billion
dollars of credit card debt. Okay, we're talking thirteen months ago.
That is not a long time ago. We went from
(20:59):
seven hundred fifty million dollars and credit card debt, so
nine hundred and twenty six billion dollars in credit card debt.
We're about to cross a trillion dollars for the first
time ever in the history of US and credit card debt,
and everybody's talking about the national debt thirty one trillion.
You know, a lot of times when people say that
kind of stuff, the average family and the worker doesn't
really feel it. They're like, yeah, you know, I can
(21:20):
go on the death clock and kind of see that website.
But we definitely do feel the credit card debt in
ways we've never seen before. So that's one data that
concerns me tremendously. When you see sales at ninety nine
cent stores being up eighty percent year over year. That
means people are no longer going and buying stuff that
(21:40):
they were at the regular place. They're going to places
that are discounted. Is a sign that they're not able
to afford things. And the last, but not least, on
this topic to be looking at when you're thinking about this.
So everybody was branking last year about we'll look at this.
I understand what they're talking about with inflation and what
they're doing with inflation, but you've got to look at unemployment.
(22:01):
Look how quat the numbers are at unemployment. Look how
awesome it is. The economy is doing great. The economy
is doing great. If that was the SoundBite last year,
I would love to see them use that same SoundBite
que three of this year, when unemployment takes a hit,
they will not be talking about that. So in regards
to twenty twenty three, unfortunately, it's not looking good. The
(22:24):
policies are not making the American economy better than it
was two years ago or three years ago. Hey, Patrick,
it's buck really appreciate you being with us and for
everyone you should check out the Pat Patrick Bet David
Show PbD Show, which is an excellent podcast Patrick, What
does it mean when you're trying to figure out what
the indicators would be if things are about to get
(22:46):
ugly in the economy? You know, what are the worry
signs you laid out for us? What you gave us
is the data of where we already are. If we're
looking out three months, six months and we're going to ahead,
people are saying we're already in some form of recession.
But if we go into something more like a Biden depression,
what are you looking for? Excellent questions? So think about
it this way. Collectively, beginning of twenty twenty one, US Americans,
(23:12):
if we put all our networks together, we were roughly
worth two point one trillion dollars. That's how much cash
we add, specifically cash, not network. Let me correct that,
specifically cash. We collectively had two point one trillion dollars
in cash. Okay, that's Q one of last year. Second
quarter that dropped from two point one to one point nine,
(23:34):
third quarter to one point six, and we're getting close
to one point three trillion dollars of savings. That is,
losing nearly a trillion dollars of cash in twelve months.
So what does that mean? Why is that such a concern.
Here's what it means. Rates went up. I want to say,
fourteen months ago, not even fourth Yeah, fourteen months ago,
(23:54):
we could get a nice three percent interest rates. I've
even got two point eight five or thirty or fixed
mortgage payment is not a big mortgage payment. You can
afford that everything was good. Property value hasn't dropped significantly
yet because people are still sitting on cash. Meaning say
somebody owns a seven hundred thousand dollars house and it
(24:14):
was seven hundred thousand dollars fourteen months ago, but they're
sitting on one hundred thousand dollars of cash, and now
it's eighty thousand out sixty thousand. Now it's forty five thousand,
Now it's thirty eight thousand. Now, husband and wife are
sitting there talking to each other, saying, Babe, we're trying
to sell this house. No one's biting at seven hundred
and fifty thousand. Let's lower to seven hundred, let's lower
(24:35):
to six to fifty. Babe, we may need to sell
this thing for five to eighty and then boom if
dumps at five eighty, how do I know that. I'll
give you a perfect example myself eight months ago. I
want to look at this local building here in four
law to doll the owners. It's a multi billion dollar company.
They kind of want this building to be off their
balance sheet. There's sixty million dollars into this building. I
(24:56):
go in. They're like, look, we're trying to get rid
of it. Buyers don't want to see. We're willing to
dump it at thirty two million. Guy. I said, I'm
not paying you thirty two million. I'll offer twenty six million.
They walk. I get a call this week. This week
they come up to me and they say, Patrick, we'll
sell it to you right now for twenty million, but
we need this thing to get done within four weeks.
And I said, I'll give you fifteen million dollars for it.
(25:17):
And they're entertaining the idea. By the way, they're entertaining
the idea. So if the big money people are willing
to take those kinds of losses because they want debt
off the balance sheet, we're about to experience Middle America
folks who are living in five hundred eight hundred, seven
hundred thousand dollars homes or million dollar homes. We're gonna
start seeing people saying, you know, that thing we thought
(25:39):
was worth a million, maybe it's really only worth eight fifty.
So that's what's going to be experienced now because people
are running out of cash. So this is fascinating because
Buck and I have talked a lot about this. There's
a lot of people out there who are just staying
in their homes because they have a three percent mortgage
or eight and they don't want to have to pay
six and a half or seven to be able to move.
(26:01):
And at some point that all starts to add up.
I think we've had whatever it is, eleven straight months
of declining home sales and a lot of people, you
know this, Patrick, huge percentage people out there listening to
us right now. Their net worth is very often tied
up into their homes. And in that what you're discussing,
at least in your head, you get those zero emails
(26:23):
and the value of your home is higher than what
you paid, and so psychologically for past few years you've
been able to use that home as a piggy bank.
How does this rectify itself? So if what you're talking about,
people are trying there's a flight to quality, basically a
flight to cash, how does this spiral. What happens in
your mind in twenty three as we moved through this year, Well,
(26:44):
it's not going to be a pretty year. I mean,
I think everybody. It's funny because when you talk to realtors,
just the best ways to find out how the industry
is going to do. Call realtors and ask them, what
is your indication, what is your prediction of what's going
to happen to the market in twenty twenty three. Here's
what they'll say, We're expecting a flat year. If realtors
(27:05):
who are in the business of being optimistic tell you
they're expecting a flat year, you know what it means.
They're expecting twenty to thirty percent drop off, right, because
typically realtors are always very motivational, very optimistic, very excited.
So that part is given math. You cannot fight math.
Math is math. When our savings goes to the levels
that it goes to, you know, people panic, We don't
(27:27):
do well when we don't have money in the bank.
We come from a concerned place. My suggestion and my
thought is more towards solution. I remember when I was
working on Morgan Stanley Dean Whider. My first day with them,
was nine ten oh one. My second day at Morgan
Stanley Dean Widder was nine to eleven. So we're talking.
First day, everybody's excited. This is going to be great.
(27:49):
You're officially a stockbroker. Next day, people are afraid to
answer the phones. And if you remember when we shut
down the stock market because they were worried it was
going to just plunge the next day. And then they
shut it down. The market was clothed, brokers weren't working.
I sat there and I said, oh my god, what
are we going to be doing? So that was kind
of a case study to see what happened. A documentary
(28:11):
came out at the time by the former Controller General
of US, David Walker. He's in it, and then Warren
buffets in it. And in the documentary a lady asks
the following question, which is which I think this is
the most important part. She says, Listen, Warren, I'm a mother,
I have three kids. I'm so worried. What do I do?
(28:33):
How do I pay the bills? If America's did is
at this situation, we owe this much money, here's what's
going How do I handle myself? I don't know what
to do and Warren said something very powerful and I'll
never forget this. The biggest insurance policy the individual can
have in an economy like this, He says, Listen, there's
always a demand for experts. There's always a demand for
(28:55):
people who are very very good at what they do.
Meaning if somebody is listening to this and this color,
they're probably like, listen, clay Buck, why do'd you guys
bring this? Guys depressing right now? He's right, saving is this,
I'm not optimistic about it. To that color. You have
to figure out a way to learn and a new
skill set or two or three or four or five
or whatever you're in, become an expert in it. Because
(29:18):
tens of thousands of jobs we're seeing fifty five thousand
jobs in technology right now, we're not even feeling the
bed bath and beyond, which many of us have been
to bed bath and beyond, maybe by a choice, maybe
by force, they just went bankrupt. There's gonna be a
lot of stories like that. So the individual, rather than
sitting there panic in whatever job you're in, do whatever
you can to become an expert, improve yourself, learn new
(29:41):
ways of taking care of your customers so you're more
competitive in the marketplace. That doesn't mean the next twelve
months is not going to be is going to be
pretty It doesn't. It just means when this two shell
path and we're going to twenty twenty four, twenty twenty five,
by that time you'll be recovered, and then five ten
years from now, when this happens again, you'll be ready
for the next crisis. Unfortunately, it's too late. If you
(30:03):
weren't ready for this one, this is now an indicator
for us to be prepared for the next one. Check
out everybody the p b D podcast, Patrick Bet David Patrick.
We got to have you back for one of our
long forms because we've got to go to station break
now because it's radio, but we'd love to talk to
you on the podcast side. So thank you so much
for being with us. Thanks fellas, Thank you, Take care,
boll bye. If you're a gun owner, you should know
(30:26):
about a great new way of training and keeping your
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(30:46):
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M A N T I s X dot com. Don't
miss a minute of Clay in Buck and get behind
(31:29):
the scene access to special content for members only. Subscribe
to C and B twenty four to seven. I am
like a character in the Matrix. Clay is like a
character in Matrix. Where online in the interwebs space all
the time looking at stuff, trying to find all the
most interesting stories and clips and cuts and you know,
(31:51):
hottakes and you name it. And it is rare that
I find myself seeing something that has gone totally viral
where my response is just what the heck is this?
And I had one of those over the weekend, right.
I mean, you know, you'll see things that are surprising
or crazier or whatever in the general news sense. But Clay,
(32:11):
I came upon something I did not. I had no
idea this was a thing that even existed. I had
never heard of this before, and it does, I believe,
roughly fall into the realm of sport. So I wanted
to ask you about this. I saw a video of
like burly dudes standing across like like, you know, what's
(32:34):
the show Family Feud? Like they're at a family Feud
podium and they're gonna be like, hey, like things you
take with you to the store, But instead they are slapping.
They literally slapping the you know what out of each other.
They're actually slapping each other as hard as they cat
across the face. And this is apparently some kind of
(32:55):
a league. Now it's like MMA, but with slapping only
what Clay, what is going on? So Dana White, who
runs the UFC, is behind this, and I believe it
airs on TBS. It's only been out for a couple
of weeks now, but you're right, they basically stand. It's
almost if you remember, I'm sure you do, because a
(33:17):
nice to the top the arm wrestling competition where they
stand basically on the little you know, there's a little
kind of table in between them. And I've watched it
a little bit because the guys are getting knocked out
by the slaps. I don't understand how it isn't beyond
a significant factor who gets to slap first, right, because
(33:42):
it's like a duel. If you shoot first, you a
lot of times have an advantage. And if you take
one of these slaps, even if you aren't knocked down,
it has to diminish your ability to give as hard
of a slap back once you've taken one yourself. But
I mean, I saw a Dan slap for people open
(34:04):
hand slaps. I saw this because you know, I saw
this Cliff and I said, wait, is this really a thing?
And this I didn't know this is a Dana White thing,
and that it's a league now, But there were some
guy who was just I mean, the side of his
face looked like like a pufferfish, like a blowfish, you know,
like it was just swelling and swelling up. And I'm like,
and he keeps getting whacked on that side of the face.
(34:26):
And there's I mean, there's video of some other guy
who gets knocked out cold and his hands are kind
of shaking. People are saying that could be a sign
of neurological damage, Like is this catching on or people
are people, you know, in enjoying this is what is
happening in the way. I don't know what the long
standing success or failure of this will be, but you know,
(34:48):
one of the great all time business moves was the
UFC in the nineties was bought for two million dollars
I believe by the Fatida brothers two million, and then
they sold it for four billion, if I'm not mistaken,
to Endeavor, the big Hollywood talent agency. And honestly, it's
(35:10):
been a super brilliant move by Endeavor to buy it
for four billion dollars. And the reason why you could
buy it for two million dollars buck was because at
that time John McCain and people like him were saying
that UFC was human cockfighting, and they went and they
got it, regulated weight classes, all these other things, and
now the UFC is very much like boxing. When I
(35:32):
watched this slap fight stuff, I can't help but think
you're one hit away from basically the sport ending forever, right,
because if you, I cannot imagine how much you'd have
to pay me to take one of these slaps from
these guys, because I think I would. I don't think
there's an amount of I don't think there's any because
when you finally people are thinking it's not a slap,
(35:54):
like a stage slap back in the lap, which was
not to think of like a like a two hundred
and eighty pound guy named Oleg who just showed up
from Siberia who is winding up with the full force
of his arm and the noise and you can see
and slow people do these slow motion videos too, where
the whole face kind of shakes. I mean, it's clay.
(36:15):
It's the craziest thing I've ever seen that's supposed to
be somehow kind of normal. Yeah, I don't know whether
it's going to last because I think it might be
too vile because at least in the UFC or boxing,
there is the concept of keeping your gloves up and
protecting yourself in some way. This is it's a lot
(36:35):
like dueling because you just have to stand there and
take it and you just take the punishment. Though. Right
in UFC, if someone gets you know, if they can't
defend themselves and they're not you know, they jump in
and they stop the fight, stop it. Yeah, this is
just straight up punishment. Oh, it's crazy, it's it's absolutely bananas.
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