April 10, 2025 • 34 mins
If this tariff battle ends in a trade war with China only…who wins? We asked economist and YMS money wiz David Bahnsen who has more to lose, the US, China or “we” the consumer in general??
Always revealing and often entertaining, it’s The Sounds of The Day!
A new national poll is out and it looks at how Americans feel about tariffs, the economy and the Presidency. National Correspondent RORY O’NEILL shares the results.
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hi, I'm Michael. I'd love to have you listen to
your morning show live. Every day we're heard on great
stations like News Talk five point fifty k f YI
and Phoenix News Radio eleven ninety k EX in Portland
and ten ninety The Patriot in Seattle. Make us a
part of your morning routine. We'd love to have you
listen live, But in the meantime, enjoy the podcast two.
Speaker 2 (00:18):
Three starting your morning off right. A new way of talk,
a new way of understanding because we're in this together.
Speaker 3 (00:29):
This is your Morning Show with Michael Gill Chruman. Seven
minutes after the hour, Welcome to Recovery. Thursday April the tenth,
Our Lord, twenty twenty five. What a crazy twenty four
hours it has been.
Speaker 1 (00:44):
You know, my goal every morning is to inform you
first and foremost, not tell you what to think or
how to think, but give you a lot to think about,
because our challenge every day is to a not be
ignorant and stay aware, be understand the best we can
and see anticipate what is next. Now I use a
(01:04):
lot of people to achieve that. One of the things
that I value most about this platform God has provided
for me is I can give people exposure to minds
in a sea of voices, in an ocean of opinions.
Not all voices and opinions are the same. So I
get the unique opportunity to share some experts with you,
(01:24):
and I know you value them. One of them you
value most is David Bonson from the Bonson Financial Group.
You may have seen him on Fox Business. You may
actually go to his Dividendcafe dot com weekly pieces that
he writes and of course joins us every Thursday. David,
I want to give you the open, en it easy question.
(01:46):
You lived through the same last twenty four hours we
did in the last week we've did.
Speaker 4 (01:51):
What do you make of all of this?
Speaker 1 (01:53):
And what might we be missing and what shouldn't we
miss the last few days.
Speaker 5 (01:57):
We're really months and months of activity condensed into just
a few days.
Speaker 6 (02:01):
It's meant something that will be in the history books.
Speaker 5 (02:04):
And I think just for listeners that aren't interested in
the kind of deeper dive as to what was happening
inside financial markets that just at a high level, I
would say we're in a position right now where there's
like China and then there's like the rest of the world.
And I think that it is really, really never going
(02:26):
to make sense to.
Speaker 6 (02:27):
Me why we didn't do this to begin with.
Speaker 5 (02:31):
And I'm not at all convinced that we're in for
an easy ride in terms of the negotiations with China.
I think those that are predicting that we have all
the leverage over them have a really shallow understanding of
how they think and the differences in their society. But nevertheless,
(02:52):
we at least have been able to isolate what now
we want to go forward and attempt to do. I'm
really curious to see in the months ahead what will
happen with some of the unemployment. I'm getting a lot
of reports across my desk of damage already done to
dock workers at ports, with drivers, with other blue collar,
(03:12):
you know, middle class type American worker jobs. And I'm
hoping that some of that impact will not be as
bad as I severe, as a severe as I fear,
But I do I do think that it's been a
wild ride, and it is not over yet.
Speaker 1 (03:28):
Okay, our biggest question today is and I resisted? And
when you listen to the nuance of what he's saying,
there's two kinds of bother he expects it from enemies
like China.
Speaker 4 (03:41):
What really appalled him?
Speaker 1 (03:42):
This kind of like you know, and when you listen
to the nuance of what he's saying, there's two kinds
of bother he expects it from enemies like China. What
really appalled him this kind of like you know, Revelation
three sixteen, it's our friends doing it to us that
made him want to really spit and vomit. So I
think he's addressed friends taking advantage of us. He's got
(04:05):
seventy four lined up to renegotiate. That's going to take
some time. He uses the ninety day pause because the
American people were behind him in principle, but they weren't
willing to pay a lot of pain, and especially in
the market with their retirement. He's managed to isolate our friends.
They know he means business. It's going to take time
to renegotiate. That could help cost of living. And he's
(04:27):
isolated China. So I'm going to take these one at
a time. How important is it that he has made
this China not versus America, but he's isolated them from
the world. I think that's a powerful outcome. Oh, Michael,
I couldn't disagree. More, he has not isolated China from
the world.
Speaker 5 (04:44):
China and Europe right now have the potential to be
more allied than they ever have now. I definitely agree
it could go that way, but it is not there yet.
That is an intention, not a conclusion. China and Europe
are going to very likely end up his higher partners
out of this, so I certainly agree that that would
be The thing I have to ask, is what we're
(05:05):
talking about when we say that we were offended by
our friends taking advantage of us? I just want to
know what friends were taking advantage to us. I have
to ask, is what we're talking about when we say
that we were offended by our friends taking advantage of us?
I just want to know what friends were taking advantage
to us.
Speaker 1 (05:24):
Well, the disproportionate trade agreements with Vietnam with India.
Speaker 5 (05:29):
Well what what disproportionate trade going to Vietnam? They paid
zero percent? They charged a zero percent tariffs. So you
disagree with the White House nomb zero. No, the White
House numbers don't say that the White House. The White
House said they were going to say that that they
were going to focus on reciprocity, and.
Speaker 6 (05:48):
Then when it came out they had one of.
Speaker 5 (05:50):
The highest numbers of Vietnam, and it said that this
was the terriffs, and then it put in parentheses or
other trade barriers, and then this is what.
Speaker 6 (05:58):
We talked about last week.
Speaker 5 (06:00):
Really what they were defining that as is the trade deficit,
that it was unfair that Vietnam sold us ten times
more things than we and we sold them all right,
let me, but I just want to know how that
is anybody treating us unfair, because that, to me is
the fundamental issue that really has done the most damage here.
Speaker 6 (06:19):
And you're right he said it to Opra nineteen eighty eight.
He was talking not about China.
Speaker 4 (06:24):
He was farked about Japan.
Speaker 5 (06:25):
So it doesn't really seem that his predictions of Japan
eating America's lunch economically played out very well since they
then went in a thirty year period of the zero
percent growth. Well, America grew more than any other country
on Earth. So if that is us getting ripped off,
I hope every country will rip us off the same way.
Speaker 1 (06:48):
David bonds and joining us in the bonds and financial group.
That brings up my most important question I had, which is,
and this goes back to bb Netnyahou at the Oval
Office earlier in the week when he talked about not
just release lowering ten praffs, but releasing trade barriers. I
don't want to get in the weeds because we lose
people economically on that. But explain to the difference between
(07:08):
tariff levels and barriers in which are more dan which
are more detrimental.
Speaker 6 (07:14):
And this is where I'm.
Speaker 5 (07:15):
Most critical of the White House, Michel, because I think
that they poison the well in this secession, because I
do believe there are such things is trade non tariff
trade barriers, things that aren't tariffs, but other things the
country can do that is a barrier to trade, manipulating
your currency or setting certain quotas or limits on certain goods.
(07:37):
So you're just kind of mudding up the field a
little bit. I don't think it happens a lot. It
does happen to some degree.
Speaker 6 (07:43):
And we do it too. By the way, I don't
like any of it.
Speaker 5 (07:47):
I like there to be less impediments to trade with
ally nations. Now, what the White House did is, as
I just said a moment ago, define a trade barrier
as a country that sells US more than we sell them,
which is called a trade deficit. So that's why Vietnam,
I'm South Korea, Switzerland, the evil country that sells us chocolate,
(08:11):
became one of the worst countries we were going after.
Speaker 6 (08:14):
After the announcement last week.
Speaker 5 (08:17):
One of the things that I am most confirmed by
in my theory here that this was their fatal mistake
is there's not one person in the White House willing
to admit that they came up with that idea. Steve
Moran at CEE CEA was originally said to have done it.
He said no, he thinks it came from Commerce Commerce
dos it came from Treasury.
Speaker 6 (08:36):
Treasury says it came from USTR. They're all pointing the
finger at each other.
Speaker 5 (08:41):
But a trade barrier is a real thing, and just
like national security concerns are a real thing. But when
you start saying everything is a national security issue, then
nothing is a.
Speaker 6 (08:50):
National security issue. And the same goes for trade barriers.
Speaker 5 (08:54):
I believe we have to get our terms straight still,
that we can make progress so we can have better deal,
so we can protect American workers and implement what.
Speaker 6 (09:02):
President Trump's ultimate agenda is here.
Speaker 5 (09:05):
But we can't do that if we're using dishonest or
disingenuous terminology. And a trade barrier is something you're doing
to impact, to keep or impede trade from happening. Trade
deficit is not a trade barrier.
Speaker 1 (09:21):
Final two questions for me, and then I want you
to just be able to say whatever you want to say.
But the recovery yesterday when the President announced the pause
was that shocking to you? Do you expect it to continue? Futures,
The futures have been wrong a lot this week. They
said we'd lose four percent. We lost less than one percent.
Speaker 5 (09:40):
In fact, no no, no, no, no, no, no, no, no, no, no.
Speaker 6 (09:42):
Mike, I gotta jump in. Futures are never wrong.
Speaker 5 (09:45):
The futures are not predicting what the market's going to
close at. The futures are predicting what the market's going.
Speaker 4 (09:49):
To open at.
Speaker 6 (09:50):
They haven't.
Speaker 5 (09:50):
They've never been wrong on that. Anything can change in
the middle of a trading day. So that's different than
say in the futures are wrong. The futures are just
current at that moment, and when the facts change, the
market changes. So the future said yesterday markets were going
to be opening down, and they did open down, and
then at ten thirty Pacific time, one thirty Eastern, the
(10:13):
President made his announcement, and of course markets violently reversed and.
Speaker 4 (10:18):
Right open eight hundred to one thousand down, did they?
I didn't know.
Speaker 5 (10:22):
No, the futures had been ticking slowly better throughout the morning.
It had been about one thousand down at three thirty
in the morning Pacific when I woke up, and then
it was seven hundred and six hundred, five hundred. It
was slowly but surely moving forward, and then and then
it did open better. Particular Nasdact. What you had was
(10:42):
what's called a margin.
Speaker 6 (10:44):
They're just a lot of people that had got wiped out.
Speaker 5 (10:46):
This is the whole story of the bond market too,
is people said.
Speaker 6 (10:49):
Oh gosh, these treasure yields are going higher, not lower.
Speaker 5 (10:53):
And the reason is more and more people were selling
off bonds to pay for the margin calls on their stock.
And I don't mean like mister and missus Smith, I
mean very large leveraged institutional players. So it was a
real mess in markets.
Speaker 1 (11:07):
Okay, so but today now the future's point to perhaps
starting down, what are you anticipating today hours later?
Speaker 6 (11:14):
Because nobody knows.
Speaker 5 (11:15):
I think that the issue the markets have to price
in is and then the Nasdaq is what's down the
most this morning, and it's what was up the most yesterday.
Speaker 6 (11:23):
Later, because nobody knows.
Speaker 5 (11:25):
I think that the issue the markets have to price
in is and then the NASZAK is what's down the
most this.
Speaker 6 (11:31):
Morning, and it's what was up the most yesterday. So
you do probably have some.
Speaker 5 (11:35):
People that are just taking the recovery they got yesterday
and looking to hit the sell button today.
Speaker 6 (11:40):
Just kind of like, I don't want to mess with
this right now.
Speaker 5 (11:43):
But look, if we were just announcing yesterday, not after
one of the worst weeks of the market in history
and going into a full blown bear market, if all
we were doing was at a flat level, and then
we announced one hundred and twenty five percent tariffs on
China and ten percent tariffs elsewhere, the market would be
down thousands of points, not up thousands. It was only
(12:05):
thousands because it was recovering from what was such a
worse place. So the markets do still have some uncertainty ahead.
Speaker 7 (12:12):
Now.
Speaker 5 (12:12):
President Trump's saying I'm confident we're going to get a
deal with China, versus I don't care if we get
a deal with China, We're going to keep these tariffs
on forever.
Speaker 6 (12:20):
That to me was a sign that the.
Speaker 5 (12:22):
White House is still optimistic as to where this is
going to go. But one hundred and twenty five percent
tariff is not a way to impede trade. Them charging
us to eighty four percent retaliatory tariff is not a
way to impede trade.
Speaker 6 (12:34):
That's just a way to cut off trade.
Speaker 5 (12:36):
That's just like they're going to have a full blown
cessation of trade with the two largest countries on Earth.
Speaker 4 (12:43):
So there we're in.
Speaker 6 (12:45):
We're in, you know, go time here to try to
get through some of these things.
Speaker 5 (12:49):
And I think the markets are going to have to
stay volatile because that China issue alone is still a
big deal. But hey, at least we took Swiss chocolate
off the list.
Speaker 6 (12:59):
Of national emerge.
Speaker 1 (13:00):
Don't mess with our chocolate. Final question is how will
the Fed respond all this? Do you think this this
uncertainty is going to equal no cuts and interest rates
or how much.
Speaker 5 (13:10):
Are they're definitely they're definitely going to be cutting.
Speaker 6 (13:12):
I don't know if they'll cut in May or not.
Speaker 5 (13:14):
The market, the future's market has doubted about a fifty
percent chance. I always say look to the market, not
to what the Fed says, but June is almost one
hundred percent chance, so the next cut is coming very soon.
And then the more important part is that the market
is now predicting five rate cuts, or at least a
good chance of five rate cuts by the end of
the year, and four is basically a given a full
(13:37):
one percent lower.
Speaker 6 (13:39):
But that's not because of the Fed responding to uncertainty.
Speaker 5 (13:41):
That's the prediction as to how bad the economy is
going to be, that the Fed is going to have
to be cutting throughout the year. So I still believe
we have a very good chance of tipping into recession
in the second quarter. We may not know we went
into a Q two recession until Q three, but you know,
the FED generally is cutting rates when we're seeing some
kind of recession. The issue right now is how mild
(14:02):
it may or may not be, and how quick it
may or may not be.
Speaker 1 (14:06):
Last question was the one we were going to start with,
which is if this turns into a trade war with China,
who has more to lose us or China?
Speaker 4 (14:12):
Are both? Yes? I knew you were gonna end with that.
Speaker 1 (14:17):
David Bonza, what's on the dividend cafe?
Speaker 5 (14:19):
This week, all about the trade issues, the tear off issues,
what happened in the bond market this week. You know,
I would say that Dividend Cafe last week really.
Speaker 6 (14:30):
Talked about a lot of the things that happened this week.
Speaker 5 (14:33):
So I'm proud of the work we did last week, Michael,
And you know what, I'm proud to be on your show.
Speaker 4 (14:37):
My friends. Oh, I love you very much and listen.
Speaker 1 (14:41):
If people love these weekly visits, you get it in
depth and even more in the Dividendcafe dot com.
Speaker 2 (14:48):
It's your morning show with Michael Bill Choino.
Speaker 1 (14:53):
Your voice from the talkback line. Let's start. It's good
as many as we can and here's Chris first.
Speaker 8 (14:57):
Good morning, Michael. We're not just in a AI arms race,
it's an AI everything race. Whoever, when's the AI race wins?
Speaker 5 (15:07):
It?
Speaker 8 (15:07):
All for the foreseeable future, manufacturing, military, everything.
Speaker 4 (15:13):
That's why we put that top on our list today.
Speaker 7 (15:15):
And John, the one thing Jonathan Decker didn't mention is
that Scott Bessett mentioned yesterday that China's imports are five
to one over the United States.
Speaker 4 (15:27):
Who's gonna win that tarlet for you?
Speaker 7 (15:29):
Tell me?
Speaker 6 (15:31):
Breton Brenton Tennessee. My morning show is your Morning Show
with Michael del Joino.
Speaker 5 (15:40):
Hi.
Speaker 4 (15:41):
It's me Michael.
Speaker 1 (15:41):
Your morning show can be heard on great stations across
the country like Talk Radio eleven ninety and Dallas Fort
Worth Freedom one oh four point seven and Washington, DC
and five point fifty k FYI and Phoenix, Arizona. We'd
love to be a part of your morning routine or
take us along. I'm the drive to work. But as
we always say, better late than never. Enjoy the podcast.
There are ways beyond even the talkback button to be
(16:03):
a part of the show. You can always email Michael
de at iHeartMedia dot com. I got this from the dentist,
not mine, but the dentist putting Trump on Mount Rushmore
forget that he needs his own mountain, and knowing Donald Trump,
he'll give it to himself. That stories haven't gotten around
to covering at great length. There was a great Amax
(16:24):
story today headline Democrats AOC nightmare is coming true and
it goes over the polling information that we went over
earlier in the week and how she is dominating Chucky
Schumer in a coming and that is she's the air
apparent to Bernie Sanders, who presumably at eighty five isn't
going to be running for president, And if she is,
(16:46):
keep in mind, and that is, she's the air apparent
to Bernie Sanders, who presumably at eighty five isn't going
to be running for president. And if she is, keep
in mind the primary voters of the day Democred Party,
we're going to make him the nominee in twenty sixteen,
and him the nominee in twenty twenty. And now they
(17:09):
stand as though they're going to make AOC the nominee
in twenty twenty eight, which means they'll have to finagle
like they did with Hillary, like they did with Biden,
like they did with Kamalam, and somehow override their own voters.
I think it's gonna be Ronnie Manuel and Wes Moore
they do it with. But that'll be the f marror
they'll have to deal with, and they can't deal with
the way they've dealt with it in the past. It's
(17:31):
a great, great story. The Meta Whistleblower is a great story.
These deals that Meta was cut or they'll have to
deal with and they can't deal with the way they've
dealt with it in the past. It's a great, great story.
The Meta whistleblower is a great story. These deals that
Meta was cutting with China to get AI billions, and
(17:53):
the data they sold along the way, and how they
lied to the American people into Congress along the way
becoming a national security issue, and it begs the AI
arms race and YAI is so important to the future. Yeah,
it's going to do a lot of good, but it's
also going to be able to be used for a
lot of evil, kind of like we saw with ground, air, sea,
(18:16):
and space when it comes to war. And I can't
find a story I like more than this. The very
Biden era CBP one app, the very you live by
the app, you die by the app. The very app
that the Biden administration use to sneak in millions of
(18:37):
migrants and hide them is the very app that Trump
is using to find them and deport them. You might
want to look up on the Hill Legal Status re
vote for nine hundred and eighty five thousand migrants who
under the US under the same app that Trump is
using to remove them.
Speaker 4 (18:52):
I mean, those are my three favorite stories of the.
Speaker 1 (18:54):
Day, right oright o?
Speaker 4 (18:58):
This is the news?
Speaker 9 (19:00):
More Papaller watching the cartoon network Spongebobbery runs right now.
Speaker 4 (19:03):
I'm a big, good democratic. This is like a gold
song in a pass.
Speaker 10 (19:07):
You should have a government that just minds its own
damn business and leaves people alone.
Speaker 4 (19:11):
We're just never going to have a president like this again,
are we.
Speaker 1 (19:15):
My I always have a theory when it comes to
hotels that if we were at the check in desk
and they said, well, you're going to be in room
six thirty seven, really, and then they plopped a photo
album on the table and you got to scroll through
and see pictures of everybody that's stayed in six thirty
seven in the last month, you'd never check in.
Speaker 4 (19:35):
That thing was at my toilet. Can I get another room?
Speaker 1 (19:38):
So my brother and I get in this argument about
hotels and we start prioritizing things. My number one priority,
like my brother, is water pressure. Now, if you have
a lousy TV, that's going to be a problem. If
you have a lousy bed, that's going to be a problem.
But if you have lousy water pressure, I'm never going
(19:59):
to stay there again. The president is going to address
water pressure regulations in our country, but look at how
he explains it.
Speaker 4 (20:06):
This is so you.
Speaker 11 (20:07):
Take a shower, wash your hands, whatever you do, including dishwashes.
Speaker 4 (20:11):
When no water comes out.
Speaker 11 (20:12):
But if you wash your hands, and in my case,
I like to take a nice shower to take care
of my beautiful hair. I have the stand of the
shell of fifteen minutes till it gets wet, it comes out.
Speaker 4 (20:24):
Drip, drip, drip. It's ridiculous.
Speaker 11 (20:27):
And what you do is you end up washing your
hands five times longer.
Speaker 6 (20:30):
So it's the same water.
Speaker 11 (20:32):
And we're going to open it up so that people
can live, and we're going to hopefully have Congress approve
it so it's memorialized.
Speaker 1 (20:38):
Well, you know what it's all said and done. Water pressure.
It may be what I'm most grateful to the President for. Uh,
you guys always love when Senator John Kennedy offers new sound.
What did John Kennedy make of this incredible last twenty
four hours we've lived.
Speaker 9 (20:57):
They decided that it was in their best answer to
make a deal, and the President wasn't bluffing and he
sees the opportunity. I mean, look, no, no reasonable no
person with an IQ above his age can believe that
these countries would have come to the table. But for
(21:19):
what President Trump did. Now some don't want to admit that,
but it's the truth. And you know, deal making is
an art. President Trump has clearly mastered the art. It
was a it was an impressive It was an impressive.
Speaker 4 (21:34):
Couple of weeks.
Speaker 1 (21:36):
Well that's not how the Democrats feel about it. What
will be their narrative pivot? Well, Chuck, you who trails
Ac in New York and a presumptive Senate race, framed
it this way.
Speaker 10 (21:49):
One Number one, he's feeling the heat, tremendous heat, and
that heat is not going to be We're not going
to let up, and the American people are not going
to let up because this is doing such damage to
people's pocketbooks. Second, there's still he has not.
Speaker 12 (22:10):
Is it partial retreat by Trump, but there's still a lot.
Speaker 10 (22:13):
Of damage that's in place. Will happen to American consumers
even getting what Trump said.
Speaker 12 (22:20):
But Third, this is chaos. This is government by chaos.
He keeps changing things from day to day. His advisors
are fighting among themselves, calling each other names, and you
cannot run a country with such chaos.
Speaker 1 (22:41):
Well, if the chaos means lower cost of goods and services,
After seventy four friendly nations, renegotiate and then an all
out trade war with China that they're going to have
to resolve. We buy way more from China than China
buys from us. Give me more chaos like this. Here's
(23:03):
Tim Walls. I can't tell.
Speaker 4 (23:08):
Listen. I've listened to this several times.
Speaker 1 (23:11):
I can't tell if he's trying to talk out of
both sides of his i'll be nice mouth, or if
this is Tim Walls trying to pivot but can't even
make the pivot with a straight face, let alone if
I add a fact to it. But this is Tim
Walls talking about he's trying to pivot away from Demo.
(23:33):
This is some of the Democrats are terrible. The line
between rich and poor depends on the specific narrative. I've
seen the very same statistic use as a narrative for
being poor, and I would look at it and I'd go,
wait a minute, eighty thousand dollars a year, a three
bedroom house with two baths, two cars, everybody's got a phone,
everybody's got cable.
Speaker 4 (23:54):
That's poor. That used to be the American dream.
Speaker 1 (23:57):
So that fine line is always moving, But by and large,
the left would have you believe that poor people are
great in spite of being victims, and they're working hard,
they're never getting a fair deal. And when it's all
said and done, small business is great. But if it
(24:17):
ends up being big business and successful, that it's demonized.
If an individual works hard and becomes successful, that it's
demonized and they're the evil rich. So he's kind of
trying to address that with a straight face as he's.
Speaker 4 (24:33):
Demonizing Elon Musker being rich.
Speaker 13 (24:35):
Listen, okay, in America, to be successful, we should celebrate that.
Speaker 6 (24:39):
People should say what my beat is, what my beat is.
Speaker 4 (24:44):
Once you get successful, don't be agreed and not pay your.
Speaker 6 (24:47):
Hats what.
Speaker 2 (24:56):
Men who is?
Speaker 5 (24:58):
Now?
Speaker 11 (24:59):
I would argue this, we're creating a false narrator from
them that everybody is super rich and has Lamborghini's and
life is easy.
Speaker 4 (25:05):
But that's what we're going to.
Speaker 12 (25:06):
Have to figure out our society about social media and
on boast things. But I don't think we should be
the party that demonizes someone because they're able to afford something,
are they able to work hard and.
Speaker 4 (25:16):
Got something well, we should.
Speaker 14 (25:18):
Demonize as people like Elon Musk and those people do well.
Speaker 1 (25:22):
Elon Musk in twenty twenty one paid eleven billion dollars
in personal tax, So good luck with that, Timmy. And
if you google about the company and Texas, they didn't pay.
That was for deals cut by leftist leadership of government
to fund a climate change e the agenda of which
even the personal loan I think that Tesla took. They
(25:45):
paid back early and even paid a penalty to pay
back early. So yeah, good luck fact checking whatever Timmy
was up to. No wonder he's pulling so poorly. I
love this question that came from the audience and the
president answer yesterday.
Speaker 4 (26:01):
Humor in Nancy Pelosi. They've been talking about tariffs for decades.
Speaker 14 (26:04):
How come when these Democrat elites want tariffs, everything's hunky dory.
Speaker 15 (26:07):
But when President Trump wants tariffs, Paul Hell breaks loose.
Speaker 4 (26:10):
Do you see the stubble standard? I love this guy,
you love the hell that is? That's really not I
appreciate that question.
Speaker 16 (26:17):
No, Chuck Schumer, Nancy, everybody knew you how to do it,
but they never had the guts to do it.
Speaker 4 (26:21):
It does take guts.
Speaker 16 (26:22):
It even takes guts for our country to go through it.
That's why I say be cool. They was taking about
should just be cool?
Speaker 4 (26:28):
It's going to work out.
Speaker 16 (26:30):
It's going to work out, and it's it's working out.
I can tell you working out, maybe faster than I thought.
But I said, it's you know, it's it's going to
take a little conditioning. It's a transition to it's really
I think it's a transition to greatness.
Speaker 4 (26:46):
It's going to be great news.
Speaker 1 (26:47):
So the President knew that the American people were behind
him in principle, but knew they didn't have a stomach
to pay too much of a price. Brilliantly with the pause.
That will make them? Or the question should be will
that make them more on board and more willing to
sustain them? That will make them? Or the question should
(27:11):
be will that make them more on board and more
willing to sustain themselves in the downtimes? Having seen it
go down and then write back up, I think that's
what the President's laying out. Our favorite moment was sweet
Caroline Levitt where she interrupts the Treasury Secretary to pull
a red and remind everybody.
Speaker 4 (27:33):
Read the damn book.
Speaker 1 (27:34):
Did she call and get permission from you two use
that line? And then you told her don't say damn right?
She texted me, Yeah, yeah, and you said, yeah, do it,
but Dan would be beneathy of them. Read the book,
I love it. From your morning show to the lips
of Caroline Levitt to America, listen, excuse.
Speaker 15 (27:52):
Me if I excuse me, or call if I could
just add to what the secretary said. Many of you
in the media clearly missed the art of the deal.
Clearly we failed to see what President Trump is doing here.
You tried to say that the rest of the world
would be moved closer to China, when in fact we've
seen the opposite effect. The entire world is calling the
United States of America, not China, because they need our markets,
(28:14):
they need our consumers, and they need this president in
the Oval Office to talk to them. Because that's exactly
why more than seventy five countries have called. Because the
United States of America is the best.
Speaker 6 (28:23):
Place in the world to do business.
Speaker 15 (28:25):
And as the President has shown great courage, as the
Secretary has said, and choosing to retaliate against China even higher.
Speaker 4 (28:33):
Right, everybody, look come up.
Speaker 7 (28:36):
Harder, not the sup sounds after the opportunity for a
brief civics lesson.
Speaker 11 (28:40):
Sure, perhaps you not to be alone with deteriorating mental condition.
Speaker 1 (28:49):
Always revealing, often entertaining.
Speaker 4 (28:51):
Your sounds of the day. This is your morning show
with Michael del Chona.
Speaker 1 (28:58):
Well, we're about forty minutes away from the opening bell.
What drama will the market bring us today? After yesterday?
Former Arkansas Governor Mike Huckabee broad morning show on Michael
del journal Well, we're about forty minutes away from the
opening bell.
Speaker 4 (29:10):
What drama will the market bring us today?
Speaker 1 (29:12):
After yesterday, former Arkansas Governor Mike Huckabee prepares to be
confirmed as ambassador to Israel and the Masters gets underway.
Yesterday was just pure magic, the par three and all
the kids. We gave the award to Rory's daughter, What
a poppy, Just an absolutely breathtaking little four year old girl,
and then she sinks an eighteen foot pot at Augusta
(29:36):
in the par three contests. The mood will be much
different today as round one of the Masters gets under
away at the Dream of Bobby Jones, the Augusta National Masters,
a new national poll is out with there are a
couple that I saw. I'm not sure which one Rory's
looking at, but he's about to share with us how
the American people feel about tariffs, the economy, and the presidency.
Speaker 4 (29:57):
Rory, good morning, Hey there, Michael, good morning. Right.
Speaker 14 (30:00):
This is the monthly poll we get out of Quinnipiac
University that you know, again with Poles, this is a snapshot.
You got to look at the trends, right, and what
we're seeing is support for Donald Trump is holding pretty steady.
Forty one percent of voters approved of the way that
Donald Trump is handling his job as president. It was
forty two last month, so within the margin of error.
(30:21):
This poll was taken after the Liberation Day announcement from
the President in.
Speaker 4 (30:26):
The Rose Garden.
Speaker 14 (30:27):
So we see that the vast majority of voters seventy
two percent think there will be some pain with these
tariffs in the short term. Fifty three percent think that
tariffs will hurt the US economy in the long term
as well.
Speaker 1 (30:41):
Now, Quinnipiac tends to lean in its sample size, so
I just say that to say you can always expect
Quinnipiac to be the worst view of the president, and
then the dates the survey was taken, and how that
may have changed now since the way things played out yesterday.
Speaker 4 (30:59):
But you're right to point.
Speaker 1 (31:00):
Out if Quinnipiac has because it basically went from what
like minus thirteen underwater or twelve underwater to thirteen underwater
or something like that.
Speaker 4 (31:07):
That's pretty remarkable. I thought it would have been worse, right, well.
Speaker 14 (31:12):
Considering the the way things were so topsy terby just
after the Rose Guard announcement, that right, things could have
been worse. But look, the president certainly has his strong
base of supporters and they're showing up as we've seen.
Speaker 4 (31:26):
Yeah.
Speaker 1 (31:27):
Well, but the consistency though, you know, it's all how
the questions are asked, and I don't think they were
asked that way. But in particular, there was another poll
that really delved into it, and it clearly showed in
principle the American people are behind the president significantly. They
just didn't have a lot of stomach. So I use
the analogy worry, when we were going through a lot
(31:47):
of the climate change stuff, you would have X percentage
of America say yes, this is global warming, it's an
existential threat, it was caused by us, and it must
be solved by us. But then when you get into
some kind of a specific set sacrifice like give up
your car, walk, ride a bike, they were never interested,
and so I think one of the things they had
to know inside the Oval Office was the American people
(32:10):
are behind this in principle, They're only willing to pay
so much and sacrifice so much. That made what led
to the ninety day pause solution. But I think part
of that you could almost glean in these numbers as well. Well.
Speaker 14 (32:22):
Yeah, I think there's an education curve, right as people
learn more and more about it and what the president's
plan is, and you know, but it's also that the
same criticism I think that we saw from Doge. You know,
everyone wants to have more efficient government, right, we don't
want waste, we don't want fraud or abuse. But it's
the chainsaw approach that turned off a lot of people.
(32:43):
And whether or not this, you know, one tariff for
the world plus extra terriffs for some, whether or not
that was the right approach, I think, maybe what is
the disconnect with the voter?
Speaker 1 (32:54):
Yeah, well, I don't think there's a gentle version of
Donald Trump available right now. Great reporting is always we'll
talk again tomorrow. I want to get a couple of
final words from the listeners. Oh my gosh, I lost
the names, but I know, I know, we're going first
to Phoenix and then to Sacramento.
Speaker 4 (33:10):
So let's start with Joe and Phoenix.
Speaker 1 (33:12):
Hey, Pizza boy, your morning shows, my morning show.
Speaker 6 (33:15):
I just want to say one thing.
Speaker 5 (33:16):
When I hear Trump speak and he's talking about the tariffs,
I just wish he would keep some of it to himself.
Speaker 7 (33:25):
We all know what's going on.
Speaker 4 (33:26):
We're going to feel the pitch. Well.
Speaker 1 (33:28):
I felt that way when he said they lined up
to kiss his butt. I don't know that I felt
that yesterday. But yeah, I think that's a very very good,
valid point in style. But again, I don't think that's DONL.
Trump's style sacrament if we can get it in.
Speaker 13 (33:43):
Morrian Michael, I'm just mildly frustrated today with some of
the comments.
Speaker 4 (33:47):
You know, I do love to hear different points of view, but.
Speaker 13 (33:51):
First off, somebody can't use seventy five things at once
from a journalist over somebody who's a doer. And second,
as far as Trey, I will have to give chunks
of plastic coming from China and they're gonna have to
give up food.
Speaker 4 (34:05):
I think we're gonna win that one. You get the
final say Roger, we're all in this together. This Is
Your Morning Show With Michael ndel Joo
Hi, I'm Michael. I'd love to have you listen to
your morning show live. Every day we're heard on great
stations like News Talk five point fifty k f YI
and Phoenix News Radio eleven ninety k EX in Portland
and ten ninety The Patriot in Seattle. Make us a
part of your morning routine. We'd love to have you
listen live, But in the meantime, enjoy the podcast two.
Speaker 2 (00:18):
Three starting your morning off right. A new way of talk,
a new way of understanding because we're in this together.
Speaker 3 (00:29):
This is your Morning Show with Michael Gill Chruman. Seven
minutes after the hour, Welcome to Recovery. Thursday April the tenth,
Our Lord, twenty twenty five. What a crazy twenty four
hours it has been.
Speaker 1 (00:44):
You know, my goal every morning is to inform you
first and foremost, not tell you what to think or
how to think, but give you a lot to think about,
because our challenge every day is to a not be
ignorant and stay aware, be understand the best we can
and see anticipate what is next. Now I use a
(01:04):
lot of people to achieve that. One of the things
that I value most about this platform God has provided
for me is I can give people exposure to minds
in a sea of voices, in an ocean of opinions.
Not all voices and opinions are the same. So I
get the unique opportunity to share some experts with you,
(01:24):
and I know you value them. One of them you
value most is David Bonson from the Bonson Financial Group.
You may have seen him on Fox Business. You may
actually go to his Dividendcafe dot com weekly pieces that
he writes and of course joins us every Thursday. David,
I want to give you the open, en it easy question.
(01:46):
You lived through the same last twenty four hours we
did in the last week we've did.
Speaker 4 (01:51):
What do you make of all of this?
Speaker 1 (01:53):
And what might we be missing and what shouldn't we
miss the last few days.
Speaker 5 (01:57):
We're really months and months of activity condensed into just
a few days.
Speaker 6 (02:01):
It's meant something that will be in the history books.
Speaker 5 (02:04):
And I think just for listeners that aren't interested in
the kind of deeper dive as to what was happening
inside financial markets that just at a high level, I
would say we're in a position right now where there's
like China and then there's like the rest of the world.
And I think that it is really, really never going
(02:26):
to make sense to.
Speaker 6 (02:27):
Me why we didn't do this to begin with.
Speaker 5 (02:31):
And I'm not at all convinced that we're in for
an easy ride in terms of the negotiations with China.
I think those that are predicting that we have all
the leverage over them have a really shallow understanding of
how they think and the differences in their society. But nevertheless,
(02:52):
we at least have been able to isolate what now
we want to go forward and attempt to do. I'm
really curious to see in the months ahead what will
happen with some of the unemployment. I'm getting a lot
of reports across my desk of damage already done to
dock workers at ports, with drivers, with other blue collar,
(03:12):
you know, middle class type American worker jobs. And I'm
hoping that some of that impact will not be as
bad as I severe, as a severe as I fear,
But I do I do think that it's been a
wild ride, and it is not over yet.
Speaker 1 (03:28):
Okay, our biggest question today is and I resisted? And
when you listen to the nuance of what he's saying,
there's two kinds of bother he expects it from enemies
like China.
Speaker 4 (03:41):
What really appalled him?
Speaker 1 (03:42):
This kind of like you know, and when you listen
to the nuance of what he's saying, there's two kinds
of bother he expects it from enemies like China. What
really appalled him this kind of like you know, Revelation
three sixteen, it's our friends doing it to us that
made him want to really spit and vomit. So I
think he's addressed friends taking advantage of us. He's got
(04:05):
seventy four lined up to renegotiate. That's going to take
some time. He uses the ninety day pause because the
American people were behind him in principle, but they weren't
willing to pay a lot of pain, and especially in
the market with their retirement. He's managed to isolate our friends.
They know he means business. It's going to take time
to renegotiate. That could help cost of living. And he's
(04:27):
isolated China. So I'm going to take these one at
a time. How important is it that he has made
this China not versus America, but he's isolated them from
the world. I think that's a powerful outcome. Oh, Michael,
I couldn't disagree. More, he has not isolated China from
the world.
Speaker 5 (04:44):
China and Europe right now have the potential to be
more allied than they ever have now. I definitely agree
it could go that way, but it is not there yet.
That is an intention, not a conclusion. China and Europe
are going to very likely end up his higher partners
out of this, so I certainly agree that that would
be The thing I have to ask, is what we're
(05:05):
talking about when we say that we were offended by
our friends taking advantage of us? I just want to
know what friends were taking advantage to us. I have
to ask, is what we're talking about when we say
that we were offended by our friends taking advantage of us?
I just want to know what friends were taking advantage
to us.
Speaker 1 (05:24):
Well, the disproportionate trade agreements with Vietnam with India.
Speaker 5 (05:29):
Well what what disproportionate trade going to Vietnam? They paid
zero percent? They charged a zero percent tariffs. So you
disagree with the White House nomb zero. No, the White
House numbers don't say that the White House. The White
House said they were going to say that that they
were going to focus on reciprocity, and.
Speaker 6 (05:48):
Then when it came out they had one of.
Speaker 5 (05:50):
The highest numbers of Vietnam, and it said that this
was the terriffs, and then it put in parentheses or
other trade barriers, and then this is what.
Speaker 6 (05:58):
We talked about last week.
Speaker 5 (06:00):
Really what they were defining that as is the trade deficit,
that it was unfair that Vietnam sold us ten times
more things than we and we sold them all right,
let me, but I just want to know how that
is anybody treating us unfair, because that, to me is
the fundamental issue that really has done the most damage here.
Speaker 6 (06:19):
And you're right he said it to Opra nineteen eighty eight.
He was talking not about China.
Speaker 4 (06:24):
He was farked about Japan.
Speaker 5 (06:25):
So it doesn't really seem that his predictions of Japan
eating America's lunch economically played out very well since they
then went in a thirty year period of the zero
percent growth. Well, America grew more than any other country
on Earth. So if that is us getting ripped off,
I hope every country will rip us off the same way.
Speaker 1 (06:48):
David bonds and joining us in the bonds and financial group.
That brings up my most important question I had, which is,
and this goes back to bb Netnyahou at the Oval
Office earlier in the week when he talked about not
just release lowering ten praffs, but releasing trade barriers. I
don't want to get in the weeds because we lose
people economically on that. But explain to the difference between
(07:08):
tariff levels and barriers in which are more dan which
are more detrimental.
Speaker 6 (07:14):
And this is where I'm.
Speaker 5 (07:15):
Most critical of the White House, Michel, because I think
that they poison the well in this secession, because I
do believe there are such things is trade non tariff
trade barriers, things that aren't tariffs, but other things the
country can do that is a barrier to trade, manipulating
your currency or setting certain quotas or limits on certain goods.
(07:37):
So you're just kind of mudding up the field a
little bit. I don't think it happens a lot. It
does happen to some degree.
Speaker 6 (07:43):
And we do it too. By the way, I don't
like any of it.
Speaker 5 (07:47):
I like there to be less impediments to trade with
ally nations. Now, what the White House did is, as
I just said a moment ago, define a trade barrier
as a country that sells US more than we sell them,
which is called a trade deficit. So that's why Vietnam,
I'm South Korea, Switzerland, the evil country that sells us chocolate,
(08:11):
became one of the worst countries we were going after.
Speaker 6 (08:14):
After the announcement last week.
Speaker 5 (08:17):
One of the things that I am most confirmed by
in my theory here that this was their fatal mistake
is there's not one person in the White House willing
to admit that they came up with that idea. Steve
Moran at CEE CEA was originally said to have done it.
He said no, he thinks it came from Commerce Commerce
dos it came from Treasury.
Speaker 6 (08:36):
Treasury says it came from USTR. They're all pointing the
finger at each other.
Speaker 5 (08:41):
But a trade barrier is a real thing, and just
like national security concerns are a real thing. But when
you start saying everything is a national security issue, then
nothing is a.
Speaker 6 (08:50):
National security issue. And the same goes for trade barriers.
Speaker 5 (08:54):
I believe we have to get our terms straight still,
that we can make progress so we can have better deal,
so we can protect American workers and implement what.
Speaker 6 (09:02):
President Trump's ultimate agenda is here.
Speaker 5 (09:05):
But we can't do that if we're using dishonest or
disingenuous terminology. And a trade barrier is something you're doing
to impact, to keep or impede trade from happening. Trade
deficit is not a trade barrier.
Speaker 1 (09:21):
Final two questions for me, and then I want you
to just be able to say whatever you want to say.
But the recovery yesterday when the President announced the pause
was that shocking to you? Do you expect it to continue? Futures,
The futures have been wrong a lot this week. They
said we'd lose four percent. We lost less than one percent.
Speaker 5 (09:40):
In fact, no no, no, no, no, no, no, no, no, no, no.
Speaker 6 (09:42):
Mike, I gotta jump in. Futures are never wrong.
Speaker 5 (09:45):
The futures are not predicting what the market's going to
close at. The futures are predicting what the market's going.
Speaker 4 (09:49):
To open at.
Speaker 6 (09:50):
They haven't.
Speaker 5 (09:50):
They've never been wrong on that. Anything can change in
the middle of a trading day. So that's different than
say in the futures are wrong. The futures are just
current at that moment, and when the facts change, the
market changes. So the future said yesterday markets were going
to be opening down, and they did open down, and
then at ten thirty Pacific time, one thirty Eastern, the
(10:13):
President made his announcement, and of course markets violently reversed and.
Speaker 4 (10:18):
Right open eight hundred to one thousand down, did they?
I didn't know.
Speaker 5 (10:22):
No, the futures had been ticking slowly better throughout the morning.
It had been about one thousand down at three thirty
in the morning Pacific when I woke up, and then
it was seven hundred and six hundred, five hundred. It
was slowly but surely moving forward, and then and then
it did open better. Particular Nasdact. What you had was
(10:42):
what's called a margin.
Speaker 6 (10:44):
They're just a lot of people that had got wiped out.
Speaker 5 (10:46):
This is the whole story of the bond market too,
is people said.
Speaker 6 (10:49):
Oh gosh, these treasure yields are going higher, not lower.
Speaker 5 (10:53):
And the reason is more and more people were selling
off bonds to pay for the margin calls on their stock.
And I don't mean like mister and missus Smith, I
mean very large leveraged institutional players. So it was a
real mess in markets.
Speaker 1 (11:07):
Okay, so but today now the future's point to perhaps
starting down, what are you anticipating today hours later?
Speaker 6 (11:14):
Because nobody knows.
Speaker 5 (11:15):
I think that the issue the markets have to price
in is and then the Nasdaq is what's down the
most this morning, and it's what was up the most yesterday.
Speaker 6 (11:23):
Later, because nobody knows.
Speaker 5 (11:25):
I think that the issue the markets have to price
in is and then the NASZAK is what's down the
most this.
Speaker 6 (11:31):
Morning, and it's what was up the most yesterday. So
you do probably have some.
Speaker 5 (11:35):
People that are just taking the recovery they got yesterday
and looking to hit the sell button today.
Speaker 6 (11:40):
Just kind of like, I don't want to mess with
this right now.
Speaker 5 (11:43):
But look, if we were just announcing yesterday, not after
one of the worst weeks of the market in history
and going into a full blown bear market, if all
we were doing was at a flat level, and then
we announced one hundred and twenty five percent tariffs on
China and ten percent tariffs elsewhere, the market would be
down thousands of points, not up thousands. It was only
(12:05):
thousands because it was recovering from what was such a
worse place. So the markets do still have some uncertainty ahead.
Speaker 7 (12:12):
Now.
Speaker 5 (12:12):
President Trump's saying I'm confident we're going to get a
deal with China, versus I don't care if we get
a deal with China, We're going to keep these tariffs
on forever.
Speaker 6 (12:20):
That to me was a sign that the.
Speaker 5 (12:22):
White House is still optimistic as to where this is
going to go. But one hundred and twenty five percent
tariff is not a way to impede trade. Them charging
us to eighty four percent retaliatory tariff is not a
way to impede trade.
Speaker 6 (12:34):
That's just a way to cut off trade.
Speaker 5 (12:36):
That's just like they're going to have a full blown
cessation of trade with the two largest countries on Earth.
Speaker 4 (12:43):
So there we're in.
Speaker 6 (12:45):
We're in, you know, go time here to try to
get through some of these things.
Speaker 5 (12:49):
And I think the markets are going to have to
stay volatile because that China issue alone is still a
big deal. But hey, at least we took Swiss chocolate
off the list.
Speaker 6 (12:59):
Of national emerge.
Speaker 1 (13:00):
Don't mess with our chocolate. Final question is how will
the Fed respond all this? Do you think this this
uncertainty is going to equal no cuts and interest rates
or how much.
Speaker 5 (13:10):
Are they're definitely they're definitely going to be cutting.
Speaker 6 (13:12):
I don't know if they'll cut in May or not.
Speaker 5 (13:14):
The market, the future's market has doubted about a fifty
percent chance. I always say look to the market, not
to what the Fed says, but June is almost one
hundred percent chance, so the next cut is coming very soon.
And then the more important part is that the market
is now predicting five rate cuts, or at least a
good chance of five rate cuts by the end of
the year, and four is basically a given a full
(13:37):
one percent lower.
Speaker 6 (13:39):
But that's not because of the Fed responding to uncertainty.
Speaker 5 (13:41):
That's the prediction as to how bad the economy is
going to be, that the Fed is going to have
to be cutting throughout the year. So I still believe
we have a very good chance of tipping into recession
in the second quarter. We may not know we went
into a Q two recession until Q three, but you know,
the FED generally is cutting rates when we're seeing some
kind of recession. The issue right now is how mild
(14:02):
it may or may not be, and how quick it
may or may not be.
Speaker 1 (14:06):
Last question was the one we were going to start with,
which is if this turns into a trade war with China,
who has more to lose us or China?
Speaker 4 (14:12):
Are both? Yes? I knew you were gonna end with that.
Speaker 1 (14:17):
David Bonza, what's on the dividend cafe?
Speaker 5 (14:19):
This week, all about the trade issues, the tear off issues,
what happened in the bond market this week. You know,
I would say that Dividend Cafe last week really.
Speaker 6 (14:30):
Talked about a lot of the things that happened this week.
Speaker 5 (14:33):
So I'm proud of the work we did last week, Michael,
And you know what, I'm proud to be on your show.
Speaker 4 (14:37):
My friends. Oh, I love you very much and listen.
Speaker 1 (14:41):
If people love these weekly visits, you get it in
depth and even more in the Dividendcafe dot com.
Speaker 2 (14:48):
It's your morning show with Michael Bill Choino.
Speaker 1 (14:53):
Your voice from the talkback line. Let's start. It's good
as many as we can and here's Chris first.
Speaker 8 (14:57):
Good morning, Michael. We're not just in a AI arms race,
it's an AI everything race. Whoever, when's the AI race wins?
Speaker 5 (15:07):
It?
Speaker 8 (15:07):
All for the foreseeable future, manufacturing, military, everything.
Speaker 4 (15:13):
That's why we put that top on our list today.
Speaker 7 (15:15):
And John, the one thing Jonathan Decker didn't mention is
that Scott Bessett mentioned yesterday that China's imports are five
to one over the United States.
Speaker 4 (15:27):
Who's gonna win that tarlet for you?
Speaker 7 (15:29):
Tell me?
Speaker 6 (15:31):
Breton Brenton Tennessee. My morning show is your Morning Show
with Michael del Joino.
Speaker 5 (15:40):
Hi.
Speaker 4 (15:41):
It's me Michael.
Speaker 1 (15:41):
Your morning show can be heard on great stations across
the country like Talk Radio eleven ninety and Dallas Fort
Worth Freedom one oh four point seven and Washington, DC
and five point fifty k FYI and Phoenix, Arizona. We'd
love to be a part of your morning routine or
take us along. I'm the drive to work. But as
we always say, better late than never. Enjoy the podcast.
There are ways beyond even the talkback button to be
(16:03):
a part of the show. You can always email Michael
de at iHeartMedia dot com. I got this from the dentist,
not mine, but the dentist putting Trump on Mount Rushmore
forget that he needs his own mountain, and knowing Donald Trump,
he'll give it to himself. That stories haven't gotten around
to covering at great length. There was a great Amax
(16:24):
story today headline Democrats AOC nightmare is coming true and
it goes over the polling information that we went over
earlier in the week and how she is dominating Chucky
Schumer in a coming and that is she's the air
apparent to Bernie Sanders, who presumably at eighty five isn't
going to be running for president, And if she is,
(16:46):
keep in mind, and that is, she's the air apparent
to Bernie Sanders, who presumably at eighty five isn't going
to be running for president. And if she is, keep
in mind the primary voters of the day Democred Party,
we're going to make him the nominee in twenty sixteen,
and him the nominee in twenty twenty. And now they
(17:09):
stand as though they're going to make AOC the nominee
in twenty twenty eight, which means they'll have to finagle
like they did with Hillary, like they did with Biden,
like they did with Kamalam, and somehow override their own voters.
I think it's gonna be Ronnie Manuel and Wes Moore
they do it with. But that'll be the f marror
they'll have to deal with, and they can't deal with
the way they've dealt with it in the past. It's
(17:31):
a great, great story. The Meta Whistleblower is a great story.
These deals that Meta was cut or they'll have to
deal with and they can't deal with the way they've
dealt with it in the past. It's a great, great story.
The Meta whistleblower is a great story. These deals that
Meta was cutting with China to get AI billions, and
(17:53):
the data they sold along the way, and how they
lied to the American people into Congress along the way
becoming a national security issue, and it begs the AI
arms race and YAI is so important to the future. Yeah,
it's going to do a lot of good, but it's
also going to be able to be used for a
lot of evil, kind of like we saw with ground, air, sea,
(18:16):
and space when it comes to war. And I can't
find a story I like more than this. The very
Biden era CBP one app, the very you live by
the app, you die by the app. The very app
that the Biden administration use to sneak in millions of
(18:37):
migrants and hide them is the very app that Trump
is using to find them and deport them. You might
want to look up on the Hill Legal Status re
vote for nine hundred and eighty five thousand migrants who
under the US under the same app that Trump is
using to remove them.
Speaker 4 (18:52):
I mean, those are my three favorite stories of the.
Speaker 1 (18:54):
Day, right oright o?
Speaker 4 (18:58):
This is the news?
Speaker 9 (19:00):
More Papaller watching the cartoon network Spongebobbery runs right now.
Speaker 4 (19:03):
I'm a big, good democratic. This is like a gold
song in a pass.
Speaker 10 (19:07):
You should have a government that just minds its own
damn business and leaves people alone.
Speaker 4 (19:11):
We're just never going to have a president like this again,
are we.
Speaker 1 (19:15):
My I always have a theory when it comes to
hotels that if we were at the check in desk
and they said, well, you're going to be in room
six thirty seven, really, and then they plopped a photo
album on the table and you got to scroll through
and see pictures of everybody that's stayed in six thirty
seven in the last month, you'd never check in.
Speaker 4 (19:35):
That thing was at my toilet. Can I get another room?
Speaker 1 (19:38):
So my brother and I get in this argument about
hotels and we start prioritizing things. My number one priority,
like my brother, is water pressure. Now, if you have
a lousy TV, that's going to be a problem. If
you have a lousy bed, that's going to be a problem.
But if you have lousy water pressure, I'm never going
(19:59):
to stay there again. The president is going to address
water pressure regulations in our country, but look at how
he explains it.
Speaker 4 (20:06):
This is so you.
Speaker 11 (20:07):
Take a shower, wash your hands, whatever you do, including dishwashes.
Speaker 4 (20:11):
When no water comes out.
Speaker 11 (20:12):
But if you wash your hands, and in my case,
I like to take a nice shower to take care
of my beautiful hair. I have the stand of the
shell of fifteen minutes till it gets wet, it comes out.
Speaker 4 (20:24):
Drip, drip, drip. It's ridiculous.
Speaker 11 (20:27):
And what you do is you end up washing your
hands five times longer.
Speaker 6 (20:30):
So it's the same water.
Speaker 11 (20:32):
And we're going to open it up so that people
can live, and we're going to hopefully have Congress approve
it so it's memorialized.
Speaker 1 (20:38):
Well, you know what it's all said and done. Water pressure.
It may be what I'm most grateful to the President for. Uh,
you guys always love when Senator John Kennedy offers new sound.
What did John Kennedy make of this incredible last twenty
four hours we've lived.
Speaker 9 (20:57):
They decided that it was in their best answer to
make a deal, and the President wasn't bluffing and he
sees the opportunity. I mean, look, no, no reasonable no
person with an IQ above his age can believe that
these countries would have come to the table. But for
(21:19):
what President Trump did. Now some don't want to admit that,
but it's the truth. And you know, deal making is
an art. President Trump has clearly mastered the art. It
was a it was an impressive It was an impressive.
Speaker 4 (21:34):
Couple of weeks.
Speaker 1 (21:36):
Well that's not how the Democrats feel about it. What
will be their narrative pivot? Well, Chuck, you who trails
Ac in New York and a presumptive Senate race, framed
it this way.
Speaker 10 (21:49):
One Number one, he's feeling the heat, tremendous heat, and
that heat is not going to be We're not going
to let up, and the American people are not going
to let up because this is doing such damage to
people's pocketbooks. Second, there's still he has not.
Speaker 12 (22:10):
Is it partial retreat by Trump, but there's still a lot.
Speaker 10 (22:13):
Of damage that's in place. Will happen to American consumers
even getting what Trump said.
Speaker 12 (22:20):
But Third, this is chaos. This is government by chaos.
He keeps changing things from day to day. His advisors
are fighting among themselves, calling each other names, and you
cannot run a country with such chaos.
Speaker 1 (22:41):
Well, if the chaos means lower cost of goods and services,
After seventy four friendly nations, renegotiate and then an all
out trade war with China that they're going to have
to resolve. We buy way more from China than China
buys from us. Give me more chaos like this. Here's
(23:03):
Tim Walls. I can't tell.
Speaker 4 (23:08):
Listen. I've listened to this several times.
Speaker 1 (23:11):
I can't tell if he's trying to talk out of
both sides of his i'll be nice mouth, or if
this is Tim Walls trying to pivot but can't even
make the pivot with a straight face, let alone if
I add a fact to it. But this is Tim
Walls talking about he's trying to pivot away from Demo.
(23:33):
This is some of the Democrats are terrible. The line
between rich and poor depends on the specific narrative. I've
seen the very same statistic use as a narrative for
being poor, and I would look at it and I'd go,
wait a minute, eighty thousand dollars a year, a three
bedroom house with two baths, two cars, everybody's got a phone,
everybody's got cable.
Speaker 4 (23:54):
That's poor. That used to be the American dream.
Speaker 1 (23:57):
So that fine line is always moving, But by and large,
the left would have you believe that poor people are
great in spite of being victims, and they're working hard,
they're never getting a fair deal. And when it's all
said and done, small business is great. But if it
(24:17):
ends up being big business and successful, that it's demonized.
If an individual works hard and becomes successful, that it's
demonized and they're the evil rich. So he's kind of
trying to address that with a straight face as he's.
Speaker 4 (24:33):
Demonizing Elon Musker being rich.
Speaker 13 (24:35):
Listen, okay, in America, to be successful, we should celebrate that.
Speaker 6 (24:39):
People should say what my beat is, what my beat is.
Speaker 4 (24:44):
Once you get successful, don't be agreed and not pay your.
Speaker 6 (24:47):
Hats what.
Speaker 2 (24:56):
Men who is?
Speaker 5 (24:58):
Now?
Speaker 11 (24:59):
I would argue this, we're creating a false narrator from
them that everybody is super rich and has Lamborghini's and
life is easy.
Speaker 4 (25:05):
But that's what we're going to.
Speaker 12 (25:06):
Have to figure out our society about social media and
on boast things. But I don't think we should be
the party that demonizes someone because they're able to afford something,
are they able to work hard and.
Speaker 4 (25:16):
Got something well, we should.
Speaker 14 (25:18):
Demonize as people like Elon Musk and those people do well.
Speaker 1 (25:22):
Elon Musk in twenty twenty one paid eleven billion dollars
in personal tax, So good luck with that, Timmy. And
if you google about the company and Texas, they didn't pay.
That was for deals cut by leftist leadership of government
to fund a climate change e the agenda of which
even the personal loan I think that Tesla took. They
(25:45):
paid back early and even paid a penalty to pay
back early. So yeah, good luck fact checking whatever Timmy
was up to. No wonder he's pulling so poorly. I
love this question that came from the audience and the
president answer yesterday.
Speaker 4 (26:01):
Humor in Nancy Pelosi. They've been talking about tariffs for decades.
Speaker 14 (26:04):
How come when these Democrat elites want tariffs, everything's hunky dory.
Speaker 15 (26:07):
But when President Trump wants tariffs, Paul Hell breaks loose.
Speaker 4 (26:10):
Do you see the stubble standard? I love this guy,
you love the hell that is? That's really not I
appreciate that question.
Speaker 16 (26:17):
No, Chuck Schumer, Nancy, everybody knew you how to do it,
but they never had the guts to do it.
Speaker 4 (26:21):
It does take guts.
Speaker 16 (26:22):
It even takes guts for our country to go through it.
That's why I say be cool. They was taking about
should just be cool?
Speaker 4 (26:28):
It's going to work out.
Speaker 16 (26:30):
It's going to work out, and it's it's working out.
I can tell you working out, maybe faster than I thought.
But I said, it's you know, it's it's going to
take a little conditioning. It's a transition to it's really
I think it's a transition to greatness.
Speaker 4 (26:46):
It's going to be great news.
Speaker 1 (26:47):
So the President knew that the American people were behind
him in principle, but knew they didn't have a stomach
to pay too much of a price. Brilliantly with the pause.
That will make them? Or the question should be will
that make them more on board and more willing to
sustain them? That will make them? Or the question should
(27:11):
be will that make them more on board and more
willing to sustain themselves in the downtimes? Having seen it
go down and then write back up, I think that's
what the President's laying out. Our favorite moment was sweet
Caroline Levitt where she interrupts the Treasury Secretary to pull
a red and remind everybody.
Speaker 4 (27:33):
Read the damn book.
Speaker 1 (27:34):
Did she call and get permission from you two use
that line? And then you told her don't say damn right?
She texted me, Yeah, yeah, and you said, yeah, do it,
but Dan would be beneathy of them. Read the book,
I love it. From your morning show to the lips
of Caroline Levitt to America, listen, excuse.
Speaker 15 (27:52):
Me if I excuse me, or call if I could
just add to what the secretary said. Many of you
in the media clearly missed the art of the deal.
Clearly we failed to see what President Trump is doing here.
You tried to say that the rest of the world
would be moved closer to China, when in fact we've
seen the opposite effect. The entire world is calling the
United States of America, not China, because they need our markets,
(28:14):
they need our consumers, and they need this president in
the Oval Office to talk to them. Because that's exactly
why more than seventy five countries have called. Because the
United States of America is the best.
Speaker 6 (28:23):
Place in the world to do business.
Speaker 15 (28:25):
And as the President has shown great courage, as the
Secretary has said, and choosing to retaliate against China even higher.
Speaker 4 (28:33):
Right, everybody, look come up.
Speaker 7 (28:36):
Harder, not the sup sounds after the opportunity for a
brief civics lesson.
Speaker 11 (28:40):
Sure, perhaps you not to be alone with deteriorating mental condition.
Speaker 1 (28:49):
Always revealing, often entertaining.
Speaker 4 (28:51):
Your sounds of the day. This is your morning show
with Michael del Chona.
Speaker 1 (28:58):
Well, we're about forty minutes away from the opening bell.
What drama will the market bring us today? After yesterday?
Former Arkansas Governor Mike Huckabee broad morning show on Michael
del journal Well, we're about forty minutes away from the
opening bell.
Speaker 4 (29:10):
What drama will the market bring us today?
Speaker 1 (29:12):
After yesterday, former Arkansas Governor Mike Huckabee prepares to be
confirmed as ambassador to Israel and the Masters gets underway.
Yesterday was just pure magic, the par three and all
the kids. We gave the award to Rory's daughter, What
a poppy, Just an absolutely breathtaking little four year old girl,
and then she sinks an eighteen foot pot at Augusta
(29:36):
in the par three contests. The mood will be much
different today as round one of the Masters gets under
away at the Dream of Bobby Jones, the Augusta National Masters,
a new national poll is out with there are a
couple that I saw. I'm not sure which one Rory's
looking at, but he's about to share with us how
the American people feel about tariffs, the economy, and the presidency.
Speaker 4 (29:57):
Rory, good morning, Hey there, Michael, good morning. Right.
Speaker 14 (30:00):
This is the monthly poll we get out of Quinnipiac
University that you know, again with Poles, this is a snapshot.
You got to look at the trends, right, and what
we're seeing is support for Donald Trump is holding pretty steady.
Forty one percent of voters approved of the way that
Donald Trump is handling his job as president. It was
forty two last month, so within the margin of error.
(30:21):
This poll was taken after the Liberation Day announcement from
the President in.
Speaker 4 (30:26):
The Rose Garden.
Speaker 14 (30:27):
So we see that the vast majority of voters seventy
two percent think there will be some pain with these
tariffs in the short term. Fifty three percent think that
tariffs will hurt the US economy in the long term
as well.
Speaker 1 (30:41):
Now, Quinnipiac tends to lean in its sample size, so
I just say that to say you can always expect
Quinnipiac to be the worst view of the president, and
then the dates the survey was taken, and how that
may have changed now since the way things played out yesterday.
Speaker 4 (30:59):
But you're right to point.
Speaker 1 (31:00):
Out if Quinnipiac has because it basically went from what
like minus thirteen underwater or twelve underwater to thirteen underwater
or something like that.
Speaker 4 (31:07):
That's pretty remarkable. I thought it would have been worse, right, well.
Speaker 14 (31:12):
Considering the the way things were so topsy terby just
after the Rose Guard announcement, that right, things could have
been worse. But look, the president certainly has his strong
base of supporters and they're showing up as we've seen.
Speaker 4 (31:26):
Yeah.
Speaker 1 (31:27):
Well, but the consistency though, you know, it's all how
the questions are asked, and I don't think they were
asked that way. But in particular, there was another poll
that really delved into it, and it clearly showed in
principle the American people are behind the president significantly. They
just didn't have a lot of stomach. So I use
the analogy worry, when we were going through a lot
(31:47):
of the climate change stuff, you would have X percentage
of America say yes, this is global warming, it's an
existential threat, it was caused by us, and it must
be solved by us. But then when you get into
some kind of a specific set sacrifice like give up
your car, walk, ride a bike, they were never interested,
and so I think one of the things they had
to know inside the Oval Office was the American people
(32:10):
are behind this in principle, They're only willing to pay
so much and sacrifice so much. That made what led
to the ninety day pause solution. But I think part
of that you could almost glean in these numbers as well. Well.
Speaker 14 (32:22):
Yeah, I think there's an education curve, right as people
learn more and more about it and what the president's
plan is, and you know, but it's also that the
same criticism I think that we saw from Doge. You know,
everyone wants to have more efficient government, right, we don't
want waste, we don't want fraud or abuse. But it's
the chainsaw approach that turned off a lot of people.
(32:43):
And whether or not this, you know, one tariff for
the world plus extra terriffs for some, whether or not
that was the right approach, I think, maybe what is
the disconnect with the voter?
Speaker 1 (32:54):
Yeah, well, I don't think there's a gentle version of
Donald Trump available right now. Great reporting is always we'll
talk again tomorrow. I want to get a couple of
final words from the listeners. Oh my gosh, I lost
the names, but I know, I know, we're going first
to Phoenix and then to Sacramento.
Speaker 4 (33:10):
So let's start with Joe and Phoenix.
Speaker 1 (33:12):
Hey, Pizza boy, your morning shows, my morning show.
Speaker 6 (33:15):
I just want to say one thing.
Speaker 5 (33:16):
When I hear Trump speak and he's talking about the tariffs,
I just wish he would keep some of it to himself.
Speaker 7 (33:25):
We all know what's going on.
Speaker 4 (33:26):
We're going to feel the pitch. Well.
Speaker 1 (33:28):
I felt that way when he said they lined up
to kiss his butt. I don't know that I felt
that yesterday. But yeah, I think that's a very very good,
valid point in style. But again, I don't think that's DONL.
Trump's style sacrament if we can get it in.
Speaker 13 (33:43):
Morrian Michael, I'm just mildly frustrated today with some of
the comments.
Speaker 4 (33:47):
You know, I do love to hear different points of view, but.
Speaker 13 (33:51):
First off, somebody can't use seventy five things at once
from a journalist over somebody who's a doer. And second,
as far as Trey, I will have to give chunks
of plastic coming from China and they're gonna have to
give up food.
Speaker 4 (34:05):
I think we're gonna win that one. You get the
final say Roger, we're all in this together. This Is
Your Morning Show With Michael ndel Joo
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!