More companies and high-earning CEOs are leaving high-tax, high-regulation states for lower-cost places to do business. What’s driving the shift, and which states are benefiting? National Correspondent RORY O’NEILL will break it down.
Mortgage rates, interest rates, gas prices…no matter what side of the debate you’re on, why do both sides always look for a government solution? What is the proper role of government when it comes to the economy? We’ll ask economist David Bahnsen if we’d be better off if they just stayed out of it!
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Speaker 1 (00:00):
Hey, it's me Michael.
Speaker 2 (00:00):
You can listen to your morning show live on the
air or streaming live on your iHeart app Monday through
Friday from three to six Pacific, five to eight Central,
and six to nine Eastern on great radio stations like
Talk six fifty KSTE and Sacramento or one oh four
nine The Patriot in Saint Louis and Impact Radio one
oh five nine and twelve fifty whd Z in Tampa, Florida.
(00:21):
Sure hope you can join us live and make us
a part of your morning routine. In the meantime, enjoy
the podcast.
Speaker 3 (00:26):
Well two three starting your morning off right. A new
way of talk, a new way of understanding because we're
in this togiven. This is your Morning show with Michael
gil Charn.
Speaker 4 (00:43):
Defense Department officials say the first six days.
Speaker 1 (00:45):
Of war costs about eleven million dollars.
Speaker 4 (00:47):
US plans to release one hundred and seventy two million
barrels of oil from the Strategic Petroleum Reserve and uh
FBI warning law enforcement agencies across the country and especially
in cal on terrorist plots and a big blow to
New York City. Moodies is downgrading the Big Apples financial outlook.
We'll have more of that. Top five stories coming up
(01:09):
a minutes. David Bonson is going to be joining US
mortgage rates, interest rates, gas prices. No matter what side
of the debate you're on, why do both sides always
look for a government solution? What happened to Ronald Reagan's
wise words? The government isn't the solution, it's the problem.
We'll talk more about that. It's never more true than
with the economy. Our money was David Bonson next half hour.
(01:31):
First things first, more companies and higher earning CEOs and Boyd,
we have a compelling list for you today. Are leaving
high taxes, leaving high regulation states for lower cost places
to do business. It's the ultimate Founding Father gift, the
right to vote with your feet, and especially in California,
(01:51):
billionaires are doing just that. Our national correspondent Roy O'Neil
is here. Good morning, Rory.
Speaker 5 (01:56):
Good morning California and Washington State as well. This week
we heard that former Starbucks CEO Howard Schultz is pulling
up roots out of Seattle and moving down to South Florida.
This is after Washington Washington State lawmakers advanced the so
called millionaire tax bill that would levy at nearly ten
(02:16):
percent annual tax on personal earnings over one million dollars. Now,
mister Schultz won't be all by himself down there. Jeff Bezos,
who actually grew up in South Florida, also relocated back
there after finding all of his success with Amazon. Also
news this week that Mark Zuckerberg just made the largest
most expensive home purchase in Miami Dade County history, spending
(02:38):
one hundred and seventy million dollars to locate there. All
three of these billionaires now find themselves in a state
with no income tax and on the verge of eliminating
the property tax as well.
Speaker 1 (02:50):
I guess, and you're doing, we're doing rich people.
Speaker 4 (02:52):
The company itself, Starbucks, is going to open a new
office in Nashville, moving many of its jobs from Seattle
to Nashville. As often as the case when Rory and
I are following these mass exodus from well, i'll say
it so you don't but blue states to more tax
friendly red states, it's usually to fill up and jam
(03:12):
his traffic more or mine, because the majority always seemed
to pick Tennessee, Florida, and I guess Texas, North Carolina
and Georgia's we're seeing more.
Speaker 1 (03:22):
In george is picking up.
Speaker 5 (03:24):
Actually, well Yamaha, Yeah, and this week in California, after
fifty years of having its American headquarters in California, Yamaha
announced that it's relocating to Georgia. As you said, as
the Starbucks operated what opening a big operational facility in Nashville.
But it's sort of like a wink, wink, nudge, nudge,
the whole kitt kaboodle.
Speaker 1 (03:44):
Maybe there pretty.
Speaker 4 (03:45):
Soon exactly just well, and we just saw in and
out moved its entire headquarters and now opening up restaurants
all over Nashville. So, and I saw the economic study
on that this whole millionaire billionaire taxing, it's actually going
to cost them twenty five billion dollars.
Speaker 1 (04:02):
I don't even know what they're thinking.
Speaker 4 (04:03):
In the state of Washington, they were the ones that
were first with the fifteen dollars an hour minimum wage,
and all it really did was take because minimum wage
was never designed to raise your family on It's an
entry level position. But what it ended up doing is
they got replaced with kiosks or people wanted to work
half as much to make the same amount of money.
It was a complete disaster. But you know, policies have consequence,
(04:27):
and this is ultimately one of the consequences. They just
pack up and move and take the jobs with them
and the economic impact with them.
Speaker 1 (04:36):
Rory's gonna be back in the third hour.
Speaker 4 (04:37):
We'll obviously get you an update on everything in and
around Iran, and we'll talk to you then.
Speaker 1 (04:41):
Rory.
Speaker 4 (04:41):
Thank you can't have your morning show without your voice,
and we would never have your morning show without your voice.
I want to start. I think Big John. Let's go
with Big John first. So this one went right under
the radar.
Speaker 6 (04:56):
Moodies downgraded New York City from stable the negative.
Speaker 1 (05:01):
I mean, the guy's a maya for two months. Sarah
Lee Kessler reports.
Speaker 7 (05:07):
Moody's, one of the world's most important credit rating agencies,
is attributing its outlook down great to mayorsor on Mom
Donnie's plan to use a billion dollars in New York
City rainy day funds to help plug a five point
four billion dollar budget deficit. It's seen as a wake
up call to the city about its financial footing, but
Moody's is maintaining it's double A two rating for New York,
(05:30):
so that means the negative outlook won't have an immediate
effect on the city's ability to borrow money. I'm Sarah
Lee Kessler.
Speaker 4 (05:37):
But elections have consequences, and again reality winning over narrative.
Good point, Big John. All right, let's go to Columbus,
Georgia and Dave.
Speaker 8 (05:47):
Back when Obama was president, gas prices went up high,
and they can went up fast, and it seemed to
me it was like a trial run to see how
far the gas prices could go up before people just
truly freaked out, lining up at the gas trying to
get gas and extra containers just because they were afraid.
Speaker 4 (06:04):
Just my thoughts, it's one of the more graphic. I
mean that two of the most graphic memories of my
life involved gas because I remember the gas shortage during
the Jimmy Carter administration, and I remember those lines, and
I remember as a kid, just the nightmare of it.
(06:27):
Whereas the Obama one, I remember the human volatility. I
live in the closest thing you would ever find to Pleasantville,
remember the movie Pleasantville. That's like with Nashville. But yeah,
I mean I live in Franklin, Tennessee. I once had
a police officer knock on my door at three o'clock
(06:48):
in the morning. Can you imagine the panic. I have
three small children. Three o'clock in the morning. Who the
heck is at my door? I come downstairs and I
see a policeman. I mean, my adrenaline is like to
my heart rate is pounding out of my chest. I
opened the door.
Speaker 1 (07:04):
Excuse me.
Speaker 4 (07:05):
I didn't mean to bother you, sir, but I noticed
the lights are on in your car. Didn't want you
to wake up to a dead battery. That's Pleasantville. Now
I ripped that police officer the next morning out of
the air and he all of a sudden. My producer
goes line, too, is the police officer? And I do
(07:25):
this to this day because it wasn't three o'clock in
the morning, was one twenty. I mean, I'd rather have
a dead battery than wake up the middle of the
night's see a cobba my door.
Speaker 1 (07:36):
But I make a long story short. I've been pleasant Phil.
Speaker 4 (07:40):
It's like Maybury our FD around here, and I'm watching
people literally getting almost fist fights trying to fill get well,
you know, because one guy would fill his car and
they need to have a couple of the things, and
then another customer waiting line we got of the car.
I mean, you know, people don't realize how it can
turn to chaos quick. Now what's that line? I mean,
(08:01):
I think that's a very smart call from Dave because
that one in two thousand and eight, it wasn't really
it's like this one with fifty cents. I expect fifty cents.
We just bombed roun the straight of hormones. I expect
fifty cents. What was going on in two thousand and eight?
And were they just testing how high could we go?
Because they don't care. They're making the tax per gallon?
(08:27):
What's more important? Funding government or you. We're going to
get to this. This is a big point of the
day because I want you to hear nude Gingrich. Even
over the president today, it sounds like I'm pounding away
giving you narratives for the right.
Speaker 1 (08:43):
I'm not.
Speaker 4 (08:44):
I'm telling you this gas is a serious issue, or
could become a serious issue, but it's not the issue.
The narrative's trying to make it. But you don't have
that much time, and it can increase that much more
before it is a real political problem, and I wouldn't
be I mean, I'm watching the President yesterday. I'm getting
shades of mission accomplished with George Bush, and I want
(09:08):
to do this for Red because he tells the story
of it that was all misunderstood. The mission accomplished was
the battleship itself had nothing to do with the war
being over, but the way it was staged and the
time it was staged, he played right into their hands
with a very bad optic and clearly the war was
not over and it didn't ended victory, not as the
(09:30):
narrative's history would make it. This is a different John, Youngstown, Pa.
Speaker 1 (09:35):
John.
Speaker 6 (09:36):
Our gas in this area was usually right around two
forty nine to fifty nine a gallon prior to the conflicts.
Now it's holding steady about three twenty nine, three thirty nine.
I can tell you from driving back and forth to
work past about four or five different gas stations every morning.
So that's just our perspective in Youngstown.
Speaker 1 (09:58):
Yeah, that's what I But that's why I loved it.
Our grass muse and polling.
Speaker 4 (10:03):
They start breaking it down by race, ethnicity, by political party.
I mean, why does a Democrat see a different number
than a Republican or an Asian versus a Hispanic yeah,
just driving.
Speaker 1 (10:16):
You will look and you will see.
Speaker 4 (10:17):
Now, we're not gonna all have the same price, and
we don't all have the same boutique blends in our counties.
Speaker 1 (10:22):
But roughly it's with certainty.
Speaker 4 (10:25):
I can tell you the gas is up forty eight cents,
and I don't know how much of that forty eight
cents is war.
Speaker 1 (10:30):
Some of it could be fleecing.
Speaker 4 (10:34):
But the actions are being taken supposedly to secure the
strait as soon as possible. I'd make it sooner. And
now the releasing of reserves. Now that note, we go
to Woody in Arizona, our smartest caller of the day.
Speaker 9 (10:50):
I hate the thought of draining this strategic reserve just
to shave a few pennies off the price per gallon.
That's not the purpose. And at this time I don't
see any shortages that any station. Supply is not the issue.
You know, we use roughly nine million barrels a day
in the US, so what Trump plans on releasing equates
(11:13):
to less than three weeks.
Speaker 1 (11:15):
It's not going to move the needle.
Speaker 4 (11:22):
There's no there's no consumption or shortage need to do it.
So is the president doing it in an attempt to
counter a narrative for a political reason. That's why sometimes
(11:45):
I go, this is narrative, or I go, this is
just political. This political theater. Those are real things. Now
they're they're vowing to use about a third of the
reserve and have it replenished within a year. If you're
the commander in chief, you kind of know what the
objectives are. You know how long this is really going
to last. I mean, it could all be very well
(12:06):
thought out. Then again, it could all be reaction to politics.
I want to present to you whom I think is
the wisest person in the room right now, and it
was new Kingdridge. Now remember you've got an advantage over me.
I like to read newt not see him or hear him.
(12:27):
There's something smirky about but.
Speaker 1 (12:31):
This is wise.
Speaker 4 (12:35):
Yes, the American people expected gas and will to go up,
but not too high and not for too long or else.
Speaker 10 (12:44):
Well, I think they'll back him for a little while,
but they're not going to back him forever. I look,
there are three huge challenges that this administration has tackled.
Speaker 1 (12:56):
The first is.
Speaker 10 (12:58):
That and they should have frankly moved on this day one.
They have to keep the trade of hormost open. Yes,
I don't care what it costs. If they can't keep
it open, this war will in fact be an American
defeat before very long, because the entire world, including the
American people, will react to the price of oil if
the strait stays closed very long. So I lived through
(13:20):
this with Reagan as you did in the late eighties.
Keeping this trade open is the number one job because
it buys you.
Speaker 11 (13:27):
Time for the other the two other jobs.
Speaker 10 (13:29):
The second job is we're going to discover that the
Revolutionary Guard is tougher than we thought, it was, better connected,
and have at least two hundred thousand people who are
true believers, and they have no future. I mean that
Trump can say unconditional struner. These folks know if they
lose power, they have no future. And the third challenge
(13:52):
is how do you arouse and organize the street the
eighty five million or so pople in Iran who do
not want the current regime. But they're unarmed, they're unorganized,
and that has to be solved. These three problems are
going to decide whether this was a stroke of genius.
Speaker 4 (14:13):
We're going to talk more about this, or try to anyway.
Next half hour. That last one's a biggie because I
don't care what anybody says. Regime changes what they were after.
Now they could be telling the truth. Israel couldn't wait
any longer. We're going in. That's going to stir the
hornets ast well, that's going to make some defense issues
(14:34):
for us. So we got to go in with you
so we can protect all of our interests. But it
gets you going, get you ready, shoot aim. We saw
the people rising up, and we saw thirty thousand of
them killed, and then this happens. They may have overestimated
(14:55):
what the people could and would do in this circumstance
terms of risking their life. So in the end, your
best case scenario scenario becomes you take away a current
immediate threat of nuclear capability, but long term you haven't
changed anything. You don't have that long to play with
(15:16):
oil prices in the strait of horn moves. Trust me,
and it pains me to say that New Gingrich is
the wise man in the room. Right now, let me
paint you a picture. It's midnight, sirens are blaring. You
have only seconds to grab your children and get to
a bomb shelter. Seconds Or how about the elderly, your
(15:39):
legs don't work like they used to, and you gotta
get downstairs and it feels impossible, and then get to
the bomb shelter, where you get stuck for days because
you can't go all the way back. You may not
be able to get back. This is what happens every
day across to Israel. This is not a television event.
Speaker 1 (15:53):
In Israel.
Speaker 4 (15:55):
As Operation Epic Fury continues, children are being traumatized, Families
are exhausted, home are being destroyed, Lives are being lost.
And that's why the International Fellowship of Christians and Jews
is there and on the ground or bringing food, emergency equipment,
care for children, help for the elderly, supplying bomb shelters
in medical centers of critical needed essentials. If you've ever
(16:18):
wondered what it looks like to stand for Israel and
stand for good over evil, this is it. Please act now,
prayerfully consider giving forty five dollars right now and rushing
life saving essentials to the vulnerable who are under attack
even as we speak in Israel. Call eight eight eight
(16:39):
four eight eight IFCJ eight eight eight four eight eight IFCJ,
or gifts securely online at IFCJ dot org. That's IFCJ
dot org and yl Extein is going to join us
from Israel. Coming up in the third hour today, we'll
get an update on what's happening on the ground in Israel.
Speaker 1 (16:58):
This is your Show with Michael del Chuno.
Speaker 4 (17:02):
Next hour, El x Steen will be joining us from
Israel on the ground with the International Fellowship of Christian
Jews David Snati with our journey of discovery. Can you
imagine if we were all on the road today and
everybody was using different GPS maps simultaneously conflicting maps. There
is no true north, no south. Everybody's got different roads. Well,
(17:24):
we got news for you. That's how we're living in
our culture. We're good at taking sides and fighting, but
are we capable of uniting and solving anything. We're going
to visit the what's now and now what with David
Sonati coming up next hour as well. We'll get your
top five stories a day and Sounds of the day
as well. Next and of course throughout the show. Can't
have your morning show without your voice. There's a talkback
(17:46):
button on your iHeartRadio app. Use it and take your
place at the kitchen table or email me at Michael
d at iHeartMedia dot com.
Speaker 1 (17:53):
I got a few of o's for you too.
Speaker 3 (17:57):
I'm Jim Schultz in Tampa and my morning show is
your Morning Show with Michael GILJOHNO.
Speaker 2 (18:08):
Hi, it's me Michael. Your Morning show can be heard
live daily on great radio stations like News Radio six
fifty k e NI Anchorage, Alaska, Talk Radio eleven ninety
Dallas Fort Worth, and Freedom one oh four seven in Washington,
d C. We'd love to have you listen live every day.
Make us a part of your morning routine, but better
late than never. Enjoy the podcast on the air and
streaming live on your iHeartRadio app. This is your morning show.
(18:30):
I'm Michael del Jornal. Honored to serve you. Jeffreys got
the sound Red Keeping an eye on the content. Welcome
to Thursday, March to twelfth Year of Our Lord. Twenty
twenty six.
Speaker 4 (18:38):
The US is planning to release about one hundred and
seventy two million barrels of oil from the Strategic Petroleum Reserve.
Speaker 11 (18:44):
Now.
Speaker 4 (18:44):
Meanwhile, the IAE, the International Energy Agency, is set to
release over four hundred million barrels. Now, I believe they
have one point two billion barrels so this is not
quite even fifty percent of their reserves. For the US,
I think we have four hundred and twenty five billion
barrels in reserve and we're looking at one hundred and
seventy two millions so and the administration is vowing to
(19:07):
replenish the reserves within twelve months. Officials are downplaying the
threat after the FBI reportedly warned California police about Iran
targeting a West coast with retaliatory strikes. These were going
to be drone attacks in California. As we all sit,
with our Congress unable to fund homeland security at a
time of war, you can downplay it. But if it happens, boy,
(19:32):
I think attention might turn to an ineffective derelict of
duty Congress and American voters confidence in the Supreme Court
hits a record level at more on that in our
Top five Stories of the day. All Right, We're always
looking at different things, whether it's the housing crisis, in
mortgage rates or interest rates, or now gas prices, and
it seems like no matter what side of the debate
(19:52):
you're on to defend your worldview and your narrative, both
sides always seem to end up in the same place
government solution. It begs the question what is the proper
role of government when it comes to the economy? Remember
Ronald Reagan saying government isn't the solution, it's the problem.
Time to ask our economist the money was David Bonson
(20:15):
with the Bonds and Financial Group, if we'd be better
off if the government just stayed out of most economic issues,
and I guess today gas would be the big one.
Speaker 1 (20:23):
Good morning, David, thanks for joining us. Well, good morning,
you're to be with you.
Speaker 11 (20:28):
I sure hope some of these are rhetorical questions.
Speaker 4 (20:31):
Well they all well, it depends no, for most of America,
they're not.
Speaker 1 (20:35):
Yeah, that's right.
Speaker 4 (20:41):
As an economist, what is the view I mean, and
I would, and I don't know if it's just you
as as you personally an economist or economists in general,
what is their view of the government's constant involvement or
why don't we come back to the big question, what
is in your mind the proper role of government?
Speaker 11 (21:01):
Well, when it comes to the economy, my view, which
is not the majority view of contemporary economists, my view
is that governmental interventions come with trade offs that are
usually negative. They come at a cost, They invite unattended consequences,
(21:22):
They impede the otherwise productive and rational decision making of
free men and women who are operating in their own
self interests and have better incentives and better knowledge to
administer their own affairs. So it is not a libertarian view,
it is not an anarchist view. It is a realistic
(21:44):
view that there are certain government involvements to enforce rule
of law, to have certain regulatory things that are within
the realm of what our society wants to have. But
whenever we invite governmental involvement, it comes at a cost.
And so the majority view, Michael, is what John Maynard Kines,
(22:09):
the great twentieth century economists, looked at as we need
central planning. We don't want the government to control the
means of production. We're not socialistic, but yeah, we want
some technocratic expertise to do monetary policy, to set what
wage control should be, to et cetera, et cetera. So
(22:33):
from the New Deal to great society to just this
massive regulatory state we have, that's really what we've invited
into our view of economics, a heavy government hand, which
is different than my view. And as I've gotten to
know you over the years different than your view.
Speaker 4 (22:50):
Yeah, so most people listening right now already have you know,
probably a shaped different perspective. I mean what you see government,
I mean this think of the American people. Oh guess
just one of twenty cents? What's the president going to do?
Do we just immediately make a wrong move?
Speaker 1 (23:08):
It's like, well, why do you have it? What comes first?
Even they're trying to ask the government to fix it.
Speaker 11 (23:16):
But see, what's so ironic is that they're not even
that's bad enough if they're asking the government to fix it.
But like, I have just been mortified for years now
at how even what we ask government to do, and
when we ask government not to do something, it is
so incredibly partisan, like like this release of one hundred
and seventy million barrels some strategic Patroy reserve right now,
(23:38):
when no one in their right mind believes we have
an iota a problem of US energy production. We don't
have an iota a problem of an US energy supply.
It is a rank manipulation of prices on the margin
for absolutely no reason.
Speaker 4 (23:58):
Well now I know, no, the reason is political.
Speaker 1 (24:03):
Yes, that's right.
Speaker 11 (24:04):
Yeah, But so when Joe Biden did it, one side
was hopping mad and one side said it was okay.
And when President Trump does it, those roles get reversed.
Now the people who are down on Biden say it's okay,
Trump's doing it, and the people who defended Biden doing
it are now mad and Trump for doing it. I
just cannot stand the lack of consistency, and it gets
(24:26):
manifested worse with economic issues than anything else.
Speaker 4 (24:30):
That's why when we met, I said, well, I had
a discernment that we were going to be heading into
very difficult to understand and navigate economic times. And nobody
you know. I mean, look, not every subject is in
my wheelhouse, history, political science. There are things sports that
are in my wheelhouse or things.
Speaker 1 (24:51):
That are not.
Speaker 4 (24:53):
And that's why when I met you, I asked you
to come on board. It's one of the great things
that I think God appreciates about the show is I
find very smart people and I expose them to people.
They're smarter than me, and I expose them to people.
But I'll give you an example of why I can't
imagine how hard it is to be you in your
field with this going on. Here's one for you. Forty
(25:15):
five cents. Roughly forty five to forty eight cents a
gallon is what gases up right now, not presumably forever,
and realistically after this conflict in some question marks with
the strait of horror moves, and that is apparently, the
world is on fire and we're all go going to
die forty five cents. It was up over five dollars
(25:38):
and fifty cents, and that was for green initiatives, and
not a peep. That was apparently okay forty five cents. Now,
how about a blank check for the war with Ukraine?
Endlessly was okay? But now the first six days of
this war to fight terrorism and the largest sponsor of
(25:59):
terror and they're in present danger eleven billion is outrageous
and it's endless.
Speaker 1 (26:03):
I mean, you just can't stop. How much of this
is narrative over reality and how.
Speaker 11 (26:08):
Much of this Yeah, it's all narrative of reality. And
the only reason why I want to chime in with
the part that my side is doing wrong is because
it already goes without saying that the left is a
bunch of hypocrites and that everything you just highlighted was
a leftist selectivity, a leftist error, and I'm with you
(26:32):
one hundred percent, and it's all true. It should be
called out. But you know, there's a biblical concept about
keeping our own backyard, queen, calling out our own you know,
expelling the immoral from among you like these are sort
of Corinthian dynamics. I am more concerned these days, Michael,
keeping our side running than the other side. And and
(26:53):
what you just said can all be reversed. Then gas
when gas was five fifty because of what Russia did Ukraine,
we all said, oh, what is Biden doing politicizing this, Oh,
it's a midterm year. Well, guess what, it's a midterm year.
The prices aren't even close too high now, is what
Biden was dealing with. And yet where people are sitting
(27:14):
on their hands about the president and we By the way,
I got to say, President Biden never said this thing
with Ukraine and Russia would be done in four day
weeks because he knew it wouldn't be President Trump's when
he said this thing is going to be done very quickly.
Speaker 1 (27:30):
And I believe him.
Speaker 11 (27:31):
I think that they are handling it the right way.
I think they will get it done. But why is
it both it's.
Speaker 8 (27:37):
Going to be done quickly, and.
Speaker 11 (27:39):
We have to go do all these emergency measures over
twenty five cents of gallon that they taint. Now, it
does still drive me up a wall that Gavin Newsom
comes out and says, oh, I can't believe what Trump's
doing your gas prices while California has two dollars of
extra gas and admissions and so all I'm saying is
(27:59):
a pox on all their houses.
Speaker 4 (28:03):
All right, let's talk about the impact. Even though we
perceive it as temporary. What's all this doing to the
market itself, because that's all narrative is too.
Speaker 11 (28:15):
Yeah, but markets have enhanced volatility because in volatility is
a byproduct of uncertainty. So to the extent there's uncertainty
and oil prices, uncertainty when the war, and uncertainty and
administration's messaging about what exactly we're doing and how long
we're going to be doing it. Markets, really, I've been
doing this for a long time with billions of dollars market.
(28:38):
It shocks me to this day, but it speaks to
just how incredibly rational God made market mechanisms. Markets don't
really struggle that much with bad news, but they do
struggle a lot uncertainty with uncertain yeah, right now.
Speaker 4 (28:54):
So the uncertainty is gas because gas is how we
get goods and services transported. It effects everything, imports, trap
things at sea.
Speaker 1 (29:03):
So that's all.
Speaker 4 (29:03):
Those are big uncertainties, and the timing is uncertain. And
what's also uncertain is the objective. Like I'm sitting here
right now, and I'm a pretty smart person that follows
all this, I am convinced that the President is being
honest when he says, listen, Israel saw clear and present
danger and they were going. And if they go and
(29:24):
they stir up this hornet's nest, just like they lob
missiles at other Arab nations, something was coming our way.
We've got to protect our bases in their retaliation and
protect our people in our country. So if Israel goes,
we've got to go with them. Not the narrative of well,
Israel's really dictating foreign policy for America. No, that's an
enemy that wants to first destroy Israel, first kill the Jews,
(29:44):
then destroy America, then kill the Christians and rule the world.
It's been a fourteen hundred year stated goal. I do
believe it. Now while we're going, Gee, it'd be nice
if we could cut the head of the snake off
and then we were all like sitting around, going, well,
I wonder if he's going and wait till then, or
or is he waiting for the end of the Olympics
or after the State of the Union. No, he was
waiting from all the gather in the same room and boom,
(30:05):
So that was a priority. I would think getting the
strait of horn moves open as quickly as possible is
probably the number one goal right now. But is there
uncertainty in the economic world concerning the future long term
of Iran? Because mission accomplished in kicking the can and
maybe leaving with the enriched geranium that may take ground troops,
(30:29):
but regime change, well, that's a dream and a hope
and the people rising up, and that's not likely to happen.
Speaker 11 (30:38):
Well, look, I think that there's a few things you
said there that all speaks to various uncertainties, but it
also includes some upside uncertainty. Right there is the possibility
of a more friendly regime in Iran. On the other
side of this that it gets finction relief that allows
more oil to come on and therefore puts prices lower
(30:58):
into the future and so there's like a positive upside
in that regard, but right now everything has to be
priced around the negative, the uncertainty that has a downside.
And as you point out, there's straight up for moves issues,
which by the way, it's not about it being closed,
it's about it being safe to it's effectively closed with
(31:20):
insurance companies, and when insurance companies don't want to allow
things to go through, and then and then the focus
is actually on oil prices, but it really is more
than oil. It's aluminum and it's cargo. I mean, there's
one hundred and forty seven ships that are not moving
right now that do not have oil on them. They
have goods.
Speaker 4 (31:41):
So military X, we've got to get rid of all
these mines and these mind vessels that are planting them,
which the Revenue Revolutionary Guards using individual boats to do. So,
you got to get the mines out of the water.
You got to secure the straight of horror moves. Even
with the president offered to back and be the insurance
for these ships. Nobody wants to be that first ship
until they know it's here. But my main question was
(32:02):
does regime change have to happen for uncertainty to go
or just the straight of them. You know, the operations
to be over, the can to be kicked a decade,
and then the market will stabilize with certainty.
Speaker 11 (32:15):
Yeah that yeah, that's right. It's all marginal and to
the extent that something is set that isn't regime change,
but it gives ten years of clarity. That would be
plenty good enough for markets. You know, we've gone seventy
years with really really robust asset markets and known uncertainty
(32:37):
in the Middle East, in Pakistan, in Iran, in Iran
and Iraq and Siris. So nobody's saying I go. Any
outcome other than the Middle East becoming Oklahoma is a problem.
It's not going to be Alahoma.
Speaker 1 (32:51):
It's not going to be.
Speaker 11 (32:52):
Westernized, it's not going to be democratized, it's not going
to be Christianized. So what you're trying to do is
just something better than what it.
Speaker 4 (33:00):
Was three weeks ago. New Ingrich number of places in
sounds a day coming up. He has a strong belief
that American people are behind the president and they'll stay
behind him, but only for so long and only at
so much of an expense. He needs to prioritize getting
the straight of horror moves open. How much time do
you think the president has before this becomes an economic concern,
let alone American supports concern.
Speaker 11 (33:24):
Well, I'm with the speaker. The president is my support,
even if it takes a.
Speaker 1 (33:28):
Little while longer.
Speaker 11 (33:29):
I think his messaging is remarkably inadequate compared to how
good he usually isn't some of that. I think the
mixed messaging here has done a lot of what the
cariffs did where nobody takes it seriously anymore. Like how
many days can you say, Oh, if Ronda does this,
we're going to really really get him. And then they
(33:50):
were now we're going to blow him up even more
than we.
Speaker 1 (33:52):
Blew him up before.
Speaker 11 (33:53):
Like you've got to at some point realize the boy
who cried Wolf is a real thing.
Speaker 1 (33:57):
But the American people were with him.
Speaker 11 (33:59):
But it's Maga. There's certain people in Maga that have
turned and I say good riddance to those people.
Speaker 4 (34:04):
Yeah, well, it's kind of like double secret probation serve
from animal House moment. But yeah, the President does play
to his side of the matrix very well. He doesn't
play to the middle and the other side of the
matrix often as effectively as he needs to, or as
transparently as he can't.
Speaker 3 (34:22):
It's Your Morning Show with Michael del Chino.
Speaker 4 (34:26):
Coming up next, our national correspondent Roy and Neil take
a look at securing the Strait of Horn. Mouze Yayl Eckstein,
who is the President and CEO of the International Fellowship
of Christians and Jews, will join us live from Israel.
We'll talk about what's happening on the ground. Just a
quick update. The Hesba Lah first started lobbing missiles and
(34:52):
striking Israel, and now Israel is retaliating with missiles. So
believe it or not, it strikes from Hesba Law that
are really rocking things on the ground right now. A
large scale wave of strikes on Hesbalah's infrastructure after issuing
an urgent and dangerous evacuation alert for the area. Was
how Israel retaliated Since March second, when Israel began issuing
(35:15):
evacuation warnings a minutes air strikes. According to the Lebanese
Health Ministry, over six hundred and thirty people have been
killed nearly sixteen hundred injured in Lebanon. But again, this
is a proxy funded by Iran terror group from Lebanon
firing in Israel, now Israel retaliating. We also have the
(35:39):
FBI warning Iran had aspired to carry out an attack
on California using drones. And again, this is at a
time where Congress is not funding homeland security. Let's hope
God continues to protect us without this funding and operations
on the ground taking place. And in six days of war,
(36:00):
the way the cross has been eleven point three billion.
Speaker 1 (36:02):
That's the latest down the war. We're all in this together.
This is your Morning Show with Michael Ndel Jorno.
Hey, it's me Michael.
Speaker 2 (00:00):
You can listen to your morning show live on the
air or streaming live on your iHeart app Monday through
Friday from three to six Pacific, five to eight Central,
and six to nine Eastern on great radio stations like
Talk six fifty KSTE and Sacramento or one oh four
nine The Patriot in Saint Louis and Impact Radio one
oh five nine and twelve fifty whd Z in Tampa, Florida.
(00:21):
Sure hope you can join us live and make us
a part of your morning routine. In the meantime, enjoy
the podcast.
Speaker 3 (00:26):
Well two three starting your morning off right. A new
way of talk, a new way of understanding because we're
in this togiven. This is your Morning show with Michael
gil Charn.
Speaker 4 (00:43):
Defense Department officials say the first six days.
Speaker 1 (00:45):
Of war costs about eleven million dollars.
Speaker 4 (00:47):
US plans to release one hundred and seventy two million
barrels of oil from the Strategic Petroleum Reserve and uh
FBI warning law enforcement agencies across the country and especially
in cal on terrorist plots and a big blow to
New York City. Moodies is downgrading the Big Apples financial outlook.
We'll have more of that. Top five stories coming up
(01:09):
a minutes. David Bonson is going to be joining US
mortgage rates, interest rates, gas prices. No matter what side
of the debate you're on, why do both sides always
look for a government solution? What happened to Ronald Reagan's
wise words? The government isn't the solution, it's the problem.
We'll talk more about that. It's never more true than
with the economy. Our money was David Bonson next half hour.
(01:31):
First things first, more companies and higher earning CEOs and Boyd,
we have a compelling list for you today. Are leaving
high taxes, leaving high regulation states for lower cost places
to do business. It's the ultimate Founding Father gift, the
right to vote with your feet, and especially in California,
(01:51):
billionaires are doing just that. Our national correspondent Roy O'Neil
is here. Good morning, Rory.
Speaker 5 (01:56):
Good morning California and Washington State as well. This week
we heard that former Starbucks CEO Howard Schultz is pulling
up roots out of Seattle and moving down to South Florida.
This is after Washington Washington State lawmakers advanced the so
called millionaire tax bill that would levy at nearly ten
(02:16):
percent annual tax on personal earnings over one million dollars. Now,
mister Schultz won't be all by himself down there. Jeff Bezos,
who actually grew up in South Florida, also relocated back
there after finding all of his success with Amazon. Also
news this week that Mark Zuckerberg just made the largest
most expensive home purchase in Miami Dade County history, spending
(02:38):
one hundred and seventy million dollars to locate there. All
three of these billionaires now find themselves in a state
with no income tax and on the verge of eliminating
the property tax as well.
Speaker 1 (02:50):
I guess, and you're doing, we're doing rich people.
Speaker 4 (02:52):
The company itself, Starbucks, is going to open a new
office in Nashville, moving many of its jobs from Seattle
to Nashville. As often as the case when Rory and
I are following these mass exodus from well, i'll say
it so you don't but blue states to more tax
friendly red states, it's usually to fill up and jam
(03:12):
his traffic more or mine, because the majority always seemed
to pick Tennessee, Florida, and I guess Texas, North Carolina
and Georgia's we're seeing more.
Speaker 1 (03:22):
In george is picking up.
Speaker 5 (03:24):
Actually, well Yamaha, Yeah, and this week in California, after
fifty years of having its American headquarters in California, Yamaha
announced that it's relocating to Georgia. As you said, as
the Starbucks operated what opening a big operational facility in Nashville.
But it's sort of like a wink, wink, nudge, nudge,
the whole kitt kaboodle.
Speaker 1 (03:44):
Maybe there pretty.
Speaker 4 (03:45):
Soon exactly just well, and we just saw in and
out moved its entire headquarters and now opening up restaurants
all over Nashville. So, and I saw the economic study
on that this whole millionaire billionaire taxing, it's actually going
to cost them twenty five billion dollars.
Speaker 1 (04:02):
I don't even know what they're thinking.
Speaker 4 (04:03):
In the state of Washington, they were the ones that
were first with the fifteen dollars an hour minimum wage,
and all it really did was take because minimum wage
was never designed to raise your family on It's an
entry level position. But what it ended up doing is
they got replaced with kiosks or people wanted to work
half as much to make the same amount of money.
It was a complete disaster. But you know, policies have consequence,
(04:27):
and this is ultimately one of the consequences. They just
pack up and move and take the jobs with them
and the economic impact with them.
Speaker 1 (04:36):
Rory's gonna be back in the third hour.
Speaker 4 (04:37):
We'll obviously get you an update on everything in and
around Iran, and we'll talk to you then.
Speaker 1 (04:41):
Rory.
Speaker 4 (04:41):
Thank you can't have your morning show without your voice,
and we would never have your morning show without your voice.
I want to start. I think Big John. Let's go
with Big John first. So this one went right under
the radar.
Speaker 6 (04:56):
Moodies downgraded New York City from stable the negative.
Speaker 1 (05:01):
I mean, the guy's a maya for two months. Sarah
Lee Kessler reports.
Speaker 7 (05:07):
Moody's, one of the world's most important credit rating agencies,
is attributing its outlook down great to mayorsor on Mom
Donnie's plan to use a billion dollars in New York
City rainy day funds to help plug a five point
four billion dollar budget deficit. It's seen as a wake
up call to the city about its financial footing, but
Moody's is maintaining it's double A two rating for New York,
(05:30):
so that means the negative outlook won't have an immediate
effect on the city's ability to borrow money. I'm Sarah
Lee Kessler.
Speaker 4 (05:37):
But elections have consequences, and again reality winning over narrative.
Good point, Big John. All right, let's go to Columbus,
Georgia and Dave.
Speaker 8 (05:47):
Back when Obama was president, gas prices went up high,
and they can went up fast, and it seemed to
me it was like a trial run to see how
far the gas prices could go up before people just
truly freaked out, lining up at the gas trying to
get gas and extra containers just because they were afraid.
Speaker 4 (06:04):
Just my thoughts, it's one of the more graphic. I
mean that two of the most graphic memories of my
life involved gas because I remember the gas shortage during
the Jimmy Carter administration, and I remember those lines, and
I remember as a kid, just the nightmare of it.
(06:27):
Whereas the Obama one, I remember the human volatility. I
live in the closest thing you would ever find to Pleasantville,
remember the movie Pleasantville. That's like with Nashville. But yeah,
I mean I live in Franklin, Tennessee. I once had
a police officer knock on my door at three o'clock
(06:48):
in the morning. Can you imagine the panic. I have
three small children. Three o'clock in the morning. Who the
heck is at my door? I come downstairs and I
see a policeman. I mean, my adrenaline is like to
my heart rate is pounding out of my chest. I
opened the door.
Speaker 1 (07:04):
Excuse me.
Speaker 4 (07:05):
I didn't mean to bother you, sir, but I noticed
the lights are on in your car. Didn't want you
to wake up to a dead battery. That's Pleasantville. Now
I ripped that police officer the next morning out of
the air and he all of a sudden. My producer
goes line, too, is the police officer? And I do
(07:25):
this to this day because it wasn't three o'clock in
the morning, was one twenty. I mean, I'd rather have
a dead battery than wake up the middle of the
night's see a cobba my door.
Speaker 1 (07:36):
But I make a long story short. I've been pleasant Phil.
Speaker 4 (07:40):
It's like Maybury our FD around here, and I'm watching
people literally getting almost fist fights trying to fill get well,
you know, because one guy would fill his car and
they need to have a couple of the things, and
then another customer waiting line we got of the car.
I mean, you know, people don't realize how it can
turn to chaos quick. Now what's that line? I mean,
(08:01):
I think that's a very smart call from Dave because
that one in two thousand and eight, it wasn't really
it's like this one with fifty cents. I expect fifty cents.
We just bombed roun the straight of hormones. I expect
fifty cents. What was going on in two thousand and eight?
And were they just testing how high could we go?
Because they don't care. They're making the tax per gallon?
(08:27):
What's more important? Funding government or you. We're going to
get to this. This is a big point of the
day because I want you to hear nude Gingrich. Even
over the president today, it sounds like I'm pounding away
giving you narratives for the right.
Speaker 1 (08:43):
I'm not.
Speaker 4 (08:44):
I'm telling you this gas is a serious issue, or
could become a serious issue, but it's not the issue.
The narrative's trying to make it. But you don't have
that much time, and it can increase that much more
before it is a real political problem, and I wouldn't
be I mean, I'm watching the President yesterday. I'm getting
shades of mission accomplished with George Bush, and I want
(09:08):
to do this for Red because he tells the story
of it that was all misunderstood. The mission accomplished was
the battleship itself had nothing to do with the war
being over, but the way it was staged and the
time it was staged, he played right into their hands
with a very bad optic and clearly the war was
not over and it didn't ended victory, not as the
(09:30):
narrative's history would make it. This is a different John, Youngstown, Pa.
Speaker 1 (09:35):
John.
Speaker 6 (09:36):
Our gas in this area was usually right around two
forty nine to fifty nine a gallon prior to the conflicts.
Now it's holding steady about three twenty nine, three thirty nine.
I can tell you from driving back and forth to
work past about four or five different gas stations every morning.
So that's just our perspective in Youngstown.
Speaker 1 (09:58):
Yeah, that's what I But that's why I loved it.
Our grass muse and polling.
Speaker 4 (10:03):
They start breaking it down by race, ethnicity, by political party.
I mean, why does a Democrat see a different number
than a Republican or an Asian versus a Hispanic yeah,
just driving.
Speaker 1 (10:16):
You will look and you will see.
Speaker 4 (10:17):
Now, we're not gonna all have the same price, and
we don't all have the same boutique blends in our counties.
Speaker 1 (10:22):
But roughly it's with certainty.
Speaker 4 (10:25):
I can tell you the gas is up forty eight cents,
and I don't know how much of that forty eight
cents is war.
Speaker 1 (10:30):
Some of it could be fleecing.
Speaker 4 (10:34):
But the actions are being taken supposedly to secure the
strait as soon as possible. I'd make it sooner. And
now the releasing of reserves. Now that note, we go
to Woody in Arizona, our smartest caller of the day.
Speaker 9 (10:50):
I hate the thought of draining this strategic reserve just
to shave a few pennies off the price per gallon.
That's not the purpose. And at this time I don't
see any shortages that any station. Supply is not the issue.
You know, we use roughly nine million barrels a day
in the US, so what Trump plans on releasing equates
(11:13):
to less than three weeks.
Speaker 1 (11:15):
It's not going to move the needle.
Speaker 4 (11:22):
There's no there's no consumption or shortage need to do it.
So is the president doing it in an attempt to
counter a narrative for a political reason. That's why sometimes
(11:45):
I go, this is narrative, or I go, this is
just political. This political theater. Those are real things. Now
they're they're vowing to use about a third of the
reserve and have it replenished within a year. If you're
the commander in chief, you kind of know what the
objectives are. You know how long this is really going
to last. I mean, it could all be very well
(12:06):
thought out. Then again, it could all be reaction to politics.
I want to present to you whom I think is
the wisest person in the room right now, and it
was new Kingdridge. Now remember you've got an advantage over me.
I like to read newt not see him or hear him.
(12:27):
There's something smirky about but.
Speaker 1 (12:31):
This is wise.
Speaker 4 (12:35):
Yes, the American people expected gas and will to go up,
but not too high and not for too long or else.
Speaker 10 (12:44):
Well, I think they'll back him for a little while,
but they're not going to back him forever. I look,
there are three huge challenges that this administration has tackled.
Speaker 1 (12:56):
The first is.
Speaker 10 (12:58):
That and they should have frankly moved on this day one.
They have to keep the trade of hormost open. Yes,
I don't care what it costs. If they can't keep
it open, this war will in fact be an American
defeat before very long, because the entire world, including the
American people, will react to the price of oil if
the strait stays closed very long. So I lived through
(13:20):
this with Reagan as you did in the late eighties.
Keeping this trade open is the number one job because
it buys you.
Speaker 11 (13:27):
Time for the other the two other jobs.
Speaker 10 (13:29):
The second job is we're going to discover that the
Revolutionary Guard is tougher than we thought, it was, better connected,
and have at least two hundred thousand people who are
true believers, and they have no future. I mean that
Trump can say unconditional struner. These folks know if they
lose power, they have no future. And the third challenge
(13:52):
is how do you arouse and organize the street the
eighty five million or so pople in Iran who do
not want the current regime. But they're unarmed, they're unorganized,
and that has to be solved. These three problems are
going to decide whether this was a stroke of genius.
Speaker 4 (14:13):
We're going to talk more about this, or try to anyway.
Next half hour. That last one's a biggie because I
don't care what anybody says. Regime changes what they were after.
Now they could be telling the truth. Israel couldn't wait
any longer. We're going in. That's going to stir the
hornets ast well, that's going to make some defense issues
(14:34):
for us. So we got to go in with you
so we can protect all of our interests. But it
gets you going, get you ready, shoot aim. We saw
the people rising up, and we saw thirty thousand of
them killed, and then this happens. They may have overestimated
(14:55):
what the people could and would do in this circumstance
terms of risking their life. So in the end, your
best case scenario scenario becomes you take away a current
immediate threat of nuclear capability, but long term you haven't
changed anything. You don't have that long to play with
(15:16):
oil prices in the strait of horn moves. Trust me,
and it pains me to say that New Gingrich is
the wise man in the room. Right now, let me
paint you a picture. It's midnight, sirens are blaring. You
have only seconds to grab your children and get to
a bomb shelter. Seconds Or how about the elderly, your
(15:39):
legs don't work like they used to, and you gotta
get downstairs and it feels impossible, and then get to
the bomb shelter, where you get stuck for days because
you can't go all the way back. You may not
be able to get back. This is what happens every
day across to Israel. This is not a television event.
Speaker 1 (15:53):
In Israel.
Speaker 4 (15:55):
As Operation Epic Fury continues, children are being traumatized, Families
are exhausted, home are being destroyed, Lives are being lost.
And that's why the International Fellowship of Christians and Jews
is there and on the ground or bringing food, emergency equipment,
care for children, help for the elderly, supplying bomb shelters
in medical centers of critical needed essentials. If you've ever
(16:18):
wondered what it looks like to stand for Israel and
stand for good over evil, this is it. Please act now,
prayerfully consider giving forty five dollars right now and rushing
life saving essentials to the vulnerable who are under attack
even as we speak in Israel. Call eight eight eight
(16:39):
four eight eight IFCJ eight eight eight four eight eight IFCJ,
or gifts securely online at IFCJ dot org. That's IFCJ
dot org and yl Extein is going to join us
from Israel. Coming up in the third hour today, we'll
get an update on what's happening on the ground in Israel.
Speaker 1 (16:58):
This is your Show with Michael del Chuno.
Speaker 4 (17:02):
Next hour, El x Steen will be joining us from
Israel on the ground with the International Fellowship of Christian
Jews David Snati with our journey of discovery. Can you
imagine if we were all on the road today and
everybody was using different GPS maps simultaneously conflicting maps. There
is no true north, no south. Everybody's got different roads. Well,
(17:24):
we got news for you. That's how we're living in
our culture. We're good at taking sides and fighting, but
are we capable of uniting and solving anything. We're going
to visit the what's now and now what with David
Sonati coming up next hour as well. We'll get your
top five stories a day and Sounds of the day
as well. Next and of course throughout the show. Can't
have your morning show without your voice. There's a talkback
(17:46):
button on your iHeartRadio app. Use it and take your
place at the kitchen table or email me at Michael
d at iHeartMedia dot com.
Speaker 1 (17:53):
I got a few of o's for you too.
Speaker 3 (17:57):
I'm Jim Schultz in Tampa and my morning show is
your Morning Show with Michael GILJOHNO.
Speaker 2 (18:08):
Hi, it's me Michael. Your Morning show can be heard
live daily on great radio stations like News Radio six
fifty k e NI Anchorage, Alaska, Talk Radio eleven ninety
Dallas Fort Worth, and Freedom one oh four seven in Washington,
d C. We'd love to have you listen live every day.
Make us a part of your morning routine, but better
late than never. Enjoy the podcast on the air and
streaming live on your iHeartRadio app. This is your morning show.
(18:30):
I'm Michael del Jornal. Honored to serve you. Jeffreys got
the sound Red Keeping an eye on the content. Welcome
to Thursday, March to twelfth Year of Our Lord. Twenty
twenty six.
Speaker 4 (18:38):
The US is planning to release about one hundred and
seventy two million barrels of oil from the Strategic Petroleum Reserve.
Speaker 11 (18:44):
Now.
Speaker 4 (18:44):
Meanwhile, the IAE, the International Energy Agency, is set to
release over four hundred million barrels. Now, I believe they
have one point two billion barrels so this is not
quite even fifty percent of their reserves. For the US,
I think we have four hundred and twenty five billion
barrels in reserve and we're looking at one hundred and
seventy two millions so and the administration is vowing to
(19:07):
replenish the reserves within twelve months. Officials are downplaying the
threat after the FBI reportedly warned California police about Iran
targeting a West coast with retaliatory strikes. These were going
to be drone attacks in California. As we all sit,
with our Congress unable to fund homeland security at a
time of war, you can downplay it. But if it happens, boy,
(19:32):
I think attention might turn to an ineffective derelict of
duty Congress and American voters confidence in the Supreme Court
hits a record level at more on that in our
Top five Stories of the day. All Right, We're always
looking at different things, whether it's the housing crisis, in
mortgage rates or interest rates, or now gas prices, and
it seems like no matter what side of the debate
(19:52):
you're on to defend your worldview and your narrative, both
sides always seem to end up in the same place
government solution. It begs the question what is the proper
role of government when it comes to the economy? Remember
Ronald Reagan saying government isn't the solution, it's the problem.
Time to ask our economist the money was David Bonson
(20:15):
with the Bonds and Financial Group, if we'd be better
off if the government just stayed out of most economic issues,
and I guess today gas would be the big one.
Speaker 1 (20:23):
Good morning, David, thanks for joining us. Well, good morning,
you're to be with you.
Speaker 11 (20:28):
I sure hope some of these are rhetorical questions.
Speaker 4 (20:31):
Well they all well, it depends no, for most of America,
they're not.
Speaker 1 (20:35):
Yeah, that's right.
Speaker 4 (20:41):
As an economist, what is the view I mean, and
I would, and I don't know if it's just you
as as you personally an economist or economists in general,
what is their view of the government's constant involvement or
why don't we come back to the big question, what
is in your mind the proper role of government?
Speaker 11 (21:01):
Well, when it comes to the economy, my view, which
is not the majority view of contemporary economists, my view
is that governmental interventions come with trade offs that are
usually negative. They come at a cost, They invite unattended consequences,
(21:22):
They impede the otherwise productive and rational decision making of
free men and women who are operating in their own
self interests and have better incentives and better knowledge to
administer their own affairs. So it is not a libertarian view,
it is not an anarchist view. It is a realistic
(21:44):
view that there are certain government involvements to enforce rule
of law, to have certain regulatory things that are within
the realm of what our society wants to have. But
whenever we invite governmental involvement, it comes at a cost.
And so the majority view, Michael, is what John Maynard Kines,
(22:09):
the great twentieth century economists, looked at as we need
central planning. We don't want the government to control the
means of production. We're not socialistic, but yeah, we want
some technocratic expertise to do monetary policy, to set what
wage control should be, to et cetera, et cetera. So
(22:33):
from the New Deal to great society to just this
massive regulatory state we have, that's really what we've invited
into our view of economics, a heavy government hand, which
is different than my view. And as I've gotten to
know you over the years different than your view.
Speaker 4 (22:50):
Yeah, so most people listening right now already have you know,
probably a shaped different perspective. I mean what you see government,
I mean this think of the American people. Oh guess
just one of twenty cents? What's the president going to do?
Do we just immediately make a wrong move?
Speaker 1 (23:08):
It's like, well, why do you have it? What comes first?
Even they're trying to ask the government to fix it.
Speaker 11 (23:16):
But see, what's so ironic is that they're not even
that's bad enough if they're asking the government to fix it.
But like, I have just been mortified for years now
at how even what we ask government to do, and
when we ask government not to do something, it is
so incredibly partisan, like like this release of one hundred
and seventy million barrels some strategic Patroy reserve right now,
(23:38):
when no one in their right mind believes we have
an iota a problem of US energy production. We don't
have an iota a problem of an US energy supply.
It is a rank manipulation of prices on the margin
for absolutely no reason.
Speaker 4 (23:58):
Well now I know, no, the reason is political.
Speaker 1 (24:03):
Yes, that's right.
Speaker 11 (24:04):
Yeah, But so when Joe Biden did it, one side
was hopping mad and one side said it was okay.
And when President Trump does it, those roles get reversed.
Now the people who are down on Biden say it's okay,
Trump's doing it, and the people who defended Biden doing
it are now mad and Trump for doing it. I
just cannot stand the lack of consistency, and it gets
(24:26):
manifested worse with economic issues than anything else.
Speaker 4 (24:30):
That's why when we met, I said, well, I had
a discernment that we were going to be heading into
very difficult to understand and navigate economic times. And nobody
you know. I mean, look, not every subject is in
my wheelhouse, history, political science. There are things sports that
are in my wheelhouse or things.
Speaker 1 (24:51):
That are not.
Speaker 4 (24:53):
And that's why when I met you, I asked you
to come on board. It's one of the great things
that I think God appreciates about the show is I
find very smart people and I expose them to people.
They're smarter than me, and I expose them to people.
But I'll give you an example of why I can't
imagine how hard it is to be you in your
field with this going on. Here's one for you. Forty
(25:15):
five cents. Roughly forty five to forty eight cents a
gallon is what gases up right now, not presumably forever,
and realistically after this conflict in some question marks with
the strait of horror moves, and that is apparently, the
world is on fire and we're all go going to
die forty five cents. It was up over five dollars
(25:38):
and fifty cents, and that was for green initiatives, and
not a peep. That was apparently okay forty five cents. Now,
how about a blank check for the war with Ukraine?
Endlessly was okay? But now the first six days of
this war to fight terrorism and the largest sponsor of
(25:59):
terror and they're in present danger eleven billion is outrageous
and it's endless.
Speaker 1 (26:03):
I mean, you just can't stop. How much of this
is narrative over reality and how.
Speaker 11 (26:08):
Much of this Yeah, it's all narrative of reality. And
the only reason why I want to chime in with
the part that my side is doing wrong is because
it already goes without saying that the left is a
bunch of hypocrites and that everything you just highlighted was
a leftist selectivity, a leftist error, and I'm with you
(26:32):
one hundred percent, and it's all true. It should be
called out. But you know, there's a biblical concept about
keeping our own backyard, queen, calling out our own you know,
expelling the immoral from among you like these are sort
of Corinthian dynamics. I am more concerned these days, Michael,
keeping our side running than the other side. And and
(26:53):
what you just said can all be reversed. Then gas
when gas was five fifty because of what Russia did Ukraine,
we all said, oh, what is Biden doing politicizing this, Oh,
it's a midterm year. Well, guess what, it's a midterm year.
The prices aren't even close too high now, is what
Biden was dealing with. And yet where people are sitting
(27:14):
on their hands about the president and we By the way,
I got to say, President Biden never said this thing
with Ukraine and Russia would be done in four day
weeks because he knew it wouldn't be President Trump's when
he said this thing is going to be done very quickly.
Speaker 1 (27:30):
And I believe him.
Speaker 11 (27:31):
I think that they are handling it the right way.
I think they will get it done. But why is
it both it's.
Speaker 8 (27:37):
Going to be done quickly, and.
Speaker 11 (27:39):
We have to go do all these emergency measures over
twenty five cents of gallon that they taint. Now, it
does still drive me up a wall that Gavin Newsom
comes out and says, oh, I can't believe what Trump's
doing your gas prices while California has two dollars of
extra gas and admissions and so all I'm saying is
(27:59):
a pox on all their houses.
Speaker 4 (28:03):
All right, let's talk about the impact. Even though we
perceive it as temporary. What's all this doing to the
market itself, because that's all narrative is too.
Speaker 11 (28:15):
Yeah, but markets have enhanced volatility because in volatility is
a byproduct of uncertainty. So to the extent there's uncertainty
and oil prices, uncertainty when the war, and uncertainty and
administration's messaging about what exactly we're doing and how long
we're going to be doing it. Markets, really, I've been
doing this for a long time with billions of dollars market.
(28:38):
It shocks me to this day, but it speaks to
just how incredibly rational God made market mechanisms. Markets don't
really struggle that much with bad news, but they do
struggle a lot uncertainty with uncertain yeah, right now.
Speaker 4 (28:54):
So the uncertainty is gas because gas is how we
get goods and services transported. It effects everything, imports, trap
things at sea.
Speaker 1 (29:03):
So that's all.
Speaker 4 (29:03):
Those are big uncertainties, and the timing is uncertain. And
what's also uncertain is the objective. Like I'm sitting here
right now, and I'm a pretty smart person that follows
all this, I am convinced that the President is being
honest when he says, listen, Israel saw clear and present
danger and they were going. And if they go and
(29:24):
they stir up this hornet's nest, just like they lob
missiles at other Arab nations, something was coming our way.
We've got to protect our bases in their retaliation and
protect our people in our country. So if Israel goes,
we've got to go with them. Not the narrative of well,
Israel's really dictating foreign policy for America. No, that's an
enemy that wants to first destroy Israel, first kill the Jews,
(29:44):
then destroy America, then kill the Christians and rule the world.
It's been a fourteen hundred year stated goal. I do
believe it. Now while we're going, Gee, it'd be nice
if we could cut the head of the snake off
and then we were all like sitting around, going, well,
I wonder if he's going and wait till then, or
or is he waiting for the end of the Olympics
or after the State of the Union. No, he was
waiting from all the gather in the same room and boom,
(30:05):
So that was a priority. I would think getting the
strait of horn moves open as quickly as possible is
probably the number one goal right now. But is there
uncertainty in the economic world concerning the future long term
of Iran? Because mission accomplished in kicking the can and
maybe leaving with the enriched geranium that may take ground troops,
(30:29):
but regime change, well, that's a dream and a hope
and the people rising up, and that's not likely to happen.
Speaker 11 (30:38):
Well, look, I think that there's a few things you
said there that all speaks to various uncertainties, but it
also includes some upside uncertainty. Right there is the possibility
of a more friendly regime in Iran. On the other
side of this that it gets finction relief that allows
more oil to come on and therefore puts prices lower
(30:58):
into the future and so there's like a positive upside
in that regard, but right now everything has to be
priced around the negative, the uncertainty that has a downside.
And as you point out, there's straight up for moves issues,
which by the way, it's not about it being closed,
it's about it being safe to it's effectively closed with
(31:20):
insurance companies, and when insurance companies don't want to allow
things to go through, and then and then the focus
is actually on oil prices, but it really is more
than oil. It's aluminum and it's cargo. I mean, there's
one hundred and forty seven ships that are not moving
right now that do not have oil on them. They
have goods.
Speaker 4 (31:41):
So military X, we've got to get rid of all
these mines and these mind vessels that are planting them,
which the Revenue Revolutionary Guards using individual boats to do. So,
you got to get the mines out of the water.
You got to secure the straight of horror moves. Even
with the president offered to back and be the insurance
for these ships. Nobody wants to be that first ship
until they know it's here. But my main question was
(32:02):
does regime change have to happen for uncertainty to go
or just the straight of them. You know, the operations
to be over, the can to be kicked a decade,
and then the market will stabilize with certainty.
Speaker 11 (32:15):
Yeah that yeah, that's right. It's all marginal and to
the extent that something is set that isn't regime change,
but it gives ten years of clarity. That would be
plenty good enough for markets. You know, we've gone seventy
years with really really robust asset markets and known uncertainty
(32:37):
in the Middle East, in Pakistan, in Iran, in Iran
and Iraq and Siris. So nobody's saying I go. Any
outcome other than the Middle East becoming Oklahoma is a problem.
It's not going to be Alahoma.
Speaker 1 (32:51):
It's not going to be.
Speaker 11 (32:52):
Westernized, it's not going to be democratized, it's not going
to be Christianized. So what you're trying to do is
just something better than what it.
Speaker 4 (33:00):
Was three weeks ago. New Ingrich number of places in
sounds a day coming up. He has a strong belief
that American people are behind the president and they'll stay
behind him, but only for so long and only at
so much of an expense. He needs to prioritize getting
the straight of horror moves open. How much time do
you think the president has before this becomes an economic concern,
let alone American supports concern.
Speaker 11 (33:24):
Well, I'm with the speaker. The president is my support,
even if it takes a.
Speaker 1 (33:28):
Little while longer.
Speaker 11 (33:29):
I think his messaging is remarkably inadequate compared to how
good he usually isn't some of that. I think the
mixed messaging here has done a lot of what the
cariffs did where nobody takes it seriously anymore. Like how
many days can you say, Oh, if Ronda does this,
we're going to really really get him. And then they
(33:50):
were now we're going to blow him up even more
than we.
Speaker 1 (33:52):
Blew him up before.
Speaker 11 (33:53):
Like you've got to at some point realize the boy
who cried Wolf is a real thing.
Speaker 1 (33:57):
But the American people were with him.
Speaker 11 (33:59):
But it's Maga. There's certain people in Maga that have
turned and I say good riddance to those people.
Speaker 4 (34:04):
Yeah, well, it's kind of like double secret probation serve
from animal House moment. But yeah, the President does play
to his side of the matrix very well. He doesn't
play to the middle and the other side of the
matrix often as effectively as he needs to, or as
transparently as he can't.
Speaker 3 (34:22):
It's Your Morning Show with Michael del Chino.
Speaker 4 (34:26):
Coming up next, our national correspondent Roy and Neil take
a look at securing the Strait of Horn. Mouze Yayl Eckstein,
who is the President and CEO of the International Fellowship
of Christians and Jews, will join us live from Israel.
We'll talk about what's happening on the ground. Just a
quick update. The Hesba Lah first started lobbing missiles and
(34:52):
striking Israel, and now Israel is retaliating with missiles. So
believe it or not, it strikes from Hesba Law that
are really rocking things on the ground right now. A
large scale wave of strikes on Hesbalah's infrastructure after issuing
an urgent and dangerous evacuation alert for the area. Was
how Israel retaliated Since March second, when Israel began issuing
(35:15):
evacuation warnings a minutes air strikes. According to the Lebanese
Health Ministry, over six hundred and thirty people have been
killed nearly sixteen hundred injured in Lebanon. But again, this
is a proxy funded by Iran terror group from Lebanon
firing in Israel, now Israel retaliating. We also have the
(35:39):
FBI warning Iran had aspired to carry out an attack
on California using drones. And again, this is at a
time where Congress is not funding homeland security. Let's hope
God continues to protect us without this funding and operations
on the ground taking place. And in six days of war,
(36:00):
the way the cross has been eleven point three billion.
Speaker 1 (36:02):
That's the latest down the war. We're all in this together.
This is your Morning Show with Michael Ndel Jorno.
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