10-1-25 - 7am - Argentina & The US, Spending Money and LOATHE

Episode Transcript

Speaker 1 (00:00):
All right, guys, did you hear it looks like I've
got to do some more exercising.

Speaker 2 (00:04):
But I'll tell you what, I am not giving up
my Taco Bell.

Speaker 3 (00:10):
I hate to admit this, but we're going to talk
about it later in the program. I watched the entire
forty five minutes of the You can't call him the
deaf Seck anymore. The Secretary of War. I mean, we
need some shorter version of Secretary of War warsick, second

(00:32):
War warsick. I don't know what it should be, but
I thought a girl dad during that, and I thought, yeah,
no more cheeseburgers for you, Buco. He's got a point,
especially now the Taco Bell brought back the cool ranch
taco and the seven lay burrito. Did you see where
Taco Bell is coming back to Denver International Airport? And

(00:52):
it's not just a Taco Bell. Apparently Taco Bell has
some offshoot still Taco Bell, but and I don't want
to say it's fine dining because it's Taco Bell, but
they have other things on the menu. And I think
I read where it's like sit down. I don't know which.

(01:15):
I don't whether it's going to be in the terminal
or one of the concourses. But yeah, Taco Bell is
coming back to the airport, so if it's if it's
in the terminal, you and I should have a like
a meet and greet with listeners out at the airport,
you know, just to help the airport. You know, they
need money for the parking and stuff, so we'll.

Speaker 2 (01:34):
Go out in park. I'm fine, I have meet and
greet with the listeners, but are you going to be there?

Speaker 3 (01:39):
If you because they don't want to meet me. They
just want to meet you. So no, I wouldn't be there.
I wouldn't wouldn't want to run your fun CNN now
now it's changed. The cairon right now says government shuts
down as Republican dam's deadlock on spending. The before I

(02:00):
got interrupted by that stupid talkback my son Dumbas in Alaska.

Speaker 2 (02:04):
Was that.

Speaker 3 (02:07):
Democrats Republicans blame each other for shutdown. Let me seem like, okay, Michael,
what's the point. Wouldn't you want be more likely to
expect CNN to say Democrats blame Republicans for shutdown. I

(02:27):
don't know what's happening at CNN, but there's something going on. Meanwhile,
over at Fox.

Speaker 4 (02:33):
We're going to have a shutdown because Senator Schumer and
the Democrats want one. It will be further evidence that
human evolution is a slow process. There's no reason for
the shutdown. What we've asked Sindraw, Schumer and his colleagues.

Speaker 2 (02:50):
To approve is what we've.

Speaker 4 (02:52):
Approved fifteen twenty times. But they want to shut down
because the loon wing of the Democratic Party is added Chuck,
and Chuck wants them to love him, So we're going
to have a shut down.

Speaker 3 (03:04):
Yeah, that really is it. Chuck is catering to the
looney wing of the Democrat Party, and that looney wing,
including Alexandria Cosaquortez and obviously Maxine Waters and the others
are going to continue to push for the shut down
because they think that somehow it in yours to their benefit.

Speaker 2 (03:27):
What it really does.

Speaker 3 (03:28):
Is in yours to the benefit of Chuck trying to
keep AOC from primary him when it comes to the
primary in the Senate racing in New York. But back
for a moment to Russ vote. The problem with the

(03:52):
calculations of the Democrats I think might be twofold. The
first is, as I said before the Trump and his
group really don't have any desire to keep the federal
government running. They don't as long as they can keep

(04:13):
public safety and national security and any other so called
essential services running. This enables them to move forward to
reduce even further size of the federal government, which means
that some people are going to lose their jobs. And
there may be within this audience there may be people

(04:36):
of Michael, you're so cold hearted. No, I'm not cold hearted.
I know what the private sector does. Dragon and I
have both been through what the private sector does in
terms of laying off people. Now, fortunately my little layoff
is like a little short vacation, So fine with me.
But oh, by the way, and I got paid during

(04:57):
it also, so I have no complaints whatsoever.

Speaker 2 (05:00):
But this is what the private sector does.

Speaker 3 (05:04):
And if there are federal fewer federal employees, as I've
tried to explain before, that administrating status where is where
the real dams and roadblocks occur. That keeps Trump from
implementing his agenda because at some point, whatever that agenda is,
he gets transformed from a strategy into a tactic. It

(05:30):
gets it gets transformed from an agenda to a program,
and it's in the program offices where the rubber meets
the road, where they actually start implementing things. Well, if
they're a federal if there are fewer federal employees, then
those at a higher level are generally the ones that

(05:50):
are going to now be implementing that agenda.

Speaker 2 (05:53):
So all the all the better for Trump.

Speaker 3 (05:56):
The second problem that could really screw up the Democrats
is the question of whether they can really remain united.
Because here's what I expect Speaker Johnson and John Thune
to do.

Speaker 2 (06:09):
Well.

Speaker 3 (06:10):
Johnson's not going to do it because they already passed the bill,
but Thune will do it, and that's to have vote
after vote after vote after vote to reopen the government.
Now we've already had three defections. I've seen some stories
that they didn't name the names. I've seen one story
on x that named three. Fetterman stuck out. Oh oh,

(06:32):
it was Angus King, who is independent from Maine. I
think John Fetterman. And then there was a third, so
getting pretty close to the five Democrats to open it
back up, it was Catherine Cortez Musto. Somebody just told me,

(06:54):
I don't know where she's from. Fetterman observed that a
shutdown would be Now I disagree with this, but it
shows that he's thinking ahead. Would be the ideal for
Project twenty twenty five. So for all the Project twenty
twenty five changes that the Aridaes Foundation and others came

(07:15):
up with, that we need to streamline and make the
government more efficient and more effective. Shut it down. That's
a great that's a great opportunity to start implementing that.
And of course AOC they want us to blink first.
We have to be the consequence. You know, why are domers.
We always have to be something Obama was. We are
the ones you've been waiting for. No, no, no, you're not.

(07:38):
And Alexandria Acossia Cortes they want us to blink first.

Speaker 2 (07:42):
We have to be the consequence. No, you don't have
to be the consequence.

Speaker 3 (07:46):
Nobody should underestimate how consequential the shutdown may prove for
Trump and his foes alike, in a good way for Trump,
in a bad way for the Democrats. The fact that
is even a curry considering everything that's been going on
around the world, and everything that's been going on in

(08:08):
terms of Trump's popularity, Trump's ability to actually get things done,
and keeping campaign promises that he made. You would think
the Democrats would be aware of that and would be
thinking to themselves, let's not buy into this insanity. But
Democrats can't help themselves, and so they are going to,

(08:32):
I think at some point blink. But in the meantime, Eh,
they'll keep pushing. They'll keep pushing. I don't have a
problem with that push all you want swerving into. There's
a whole debate that's underlying. Remember we played the speech

(08:53):
from Javey Malay, the President of Argentina, when he spoke
to the United Nations General Assembly, and I played the
entire what was it like nine minutes or something, because
I wanted you to hear about how he was singularly
focused on reducing the size of the Argentinian government, of

(09:14):
dispatching all of the parentises that still existed in the
Argentina government, getting rid of inflation, which he is cut
in half, starting to eliminate and downsize government programs in
order to start stabilizing the currency.

Speaker 2 (09:34):
Well, we apparently.

Speaker 3 (09:37):
There's a simple question at the center of the debate
going on about Argentina. Will a targeted use of the
US treasuries exchange Stabilization Fund and a federal reserve swap
line advance our interests while it doesn't cost taxpayers in

(09:59):
this country anything and indeed turns us a profit. And
then I would add thirdly, bolsters and supports Malay in Argentina.
The answer to that question is yes, and we should
be doing this. It's another example of how and again

(10:20):
we're going to get to eventually get to Pete Hegsath
and the speech that he gave to the generals and
the admirals yesterday. But this is another exercise of America's
power and strength, but doing it outside the military, instead
doing it with our economy and doing it with our diplomacy.

(10:43):
And the reasons for doing this are not very mysterious.
They're anchored in precedent, arithmetic and in strategy. When a
friendly government like Argentina pursues market reform in the face
of speculative attack, when the alternative to market reform is
a deeper reliance on Beijing's financial lifelines, which they use

(11:06):
all over the place, When the instruments on offer are
secured short data and historically repaid with interest, then the
America first choice, the conservative America first choice, is to
act carefully but decisively. This is something that Trump's doings,

(11:26):
that he talked about at Seapack that doesn't get enough attention,
and I think during the shutdown it's probably something that
they will move forward with because there won't be any
of bureaucrats in the way to stop them.

Speaker 2 (11:41):
Who would think, who would think?

Speaker 1 (11:45):
But he became president too.

Speaker 2 (11:47):
He's a maga guy too.

Speaker 4 (11:48):
Make Argentina great again, right, make Argentina great again.

Speaker 2 (11:56):
I kept hearing about this.

Speaker 1 (11:58):
Man, caring about this man in beautiful Argentina, and it
is beautiful, but boy did it have inflation.

Speaker 2 (12:06):
Inflation made it less beautiful. I hear you doing fantastically.
We're very proud of you.

Speaker 3 (12:10):
Actually, absolutely, He's kind of my hero in Latin America
right now. America First is not America alone. It is
a disciplined habit of asking will this policy make Americans
more secure and more prosperous, both immediately and in the future.

(12:33):
It is not America first. Conservative. America First is not
a mandate to shun mutually beneficial deals. It's a mandate
to choose those deals. This swap, the Treasuries Exchange Stabilization
Fund and the FED swap line, those are tools that
are made specifically for these kinds of deals.

Speaker 2 (12:55):
What do they do?

Speaker 3 (12:56):
Will they provide dollars against collateral when the case of
a swap, they exchange dollars foreign currency as at preset rates,
and then they unwind on schedule with interest paid. They
don't write checks to foreign treasuries without conditions. They're not gifts.
They are secure trucks transactions, and they have a truck

(13:18):
record of repayment. And when we use these prudently, they
protect and strengthen the dollar at the same time that
supports our allies and returns cash to US. This is
Scott Descent and Donald Trump, two businessmen acting as if

(13:39):
they were running a giant not a hedge fund, but
they're running a giant investment bank. And how can we
get the best ROI on our investment with an ally
that we want to support and keep China at bay.

Speaker 2 (13:54):
What's happening in Argentina right now, and.

Speaker 3 (13:57):
Why does it matter to the US, is that Argentina
is now emerging. See if this soundsn't familiar, emerging from
years of mismanagement, chronic inflation, and maybe not so much this,
but an exclusion from the capital markets Malay was elected
to end that drift and restore some discipline to the

(14:21):
markets and to the government in Argentina, exactly the same
thing that we're trying to do. So it's mutually beneficial
for us to do that with them and to help him.
It helps them, it helps us. Malay has cut spending,
he has simplified rules and regulations, he has signaled a

(14:41):
clear preference.

Speaker 2 (14:42):
For the West.

Speaker 3 (14:44):
And when you've got Brazil and Colombia and all these
other South American countries that are looking to China for help,
here's a chance for us to say, no, look what
we can do.

Speaker 2 (14:52):
For you, and it doesn't cost us. Now.

Speaker 3 (14:58):
A market, a stock market, a free market, an open market.
Often tests resolve at exactly moments like this. Reserves are thin,
confidence is fragile, and elections are approaching. And as I
pointed out when we played the SoundBite front the speech
from Malay when he was at the UN, he has

(15:21):
lost an election to a pronust and it was a
local election, but nonetheless it showed that there still is
this undercurrent of parentieses that are fighting every single thing
that he's doing. It's such a parallel between Argentina and
the United States. What we're doing is we're.

Speaker 2 (15:42):
Trying to.

Speaker 3 (15:45):
A speculative attack on their currency. Doesn't wait for the
reforms to bear fruit. It aims to break the patient
before the medicine takes effect. For example, so you got
George Soros take him during the sterling crisis in England.
That's shown how speculators can exploit those vulnerable moments and
enrich themselves while destabilizing democracies. Source is doing exactly the

(16:08):
same thing along with China and Argentina. In this setting,
a credible backstop does real work. It deters the attack,
it lowers the volatility, and it gives the reform path
time to show some results. Now, why should we care?
Why should you care about this? Because the choice is
not between the US and self help. It is between
US and China, between the United States and China. Because

(16:31):
in recent years, Argentine has been leaning or has leaned
on an RMB that's the Chinese currency swapt from the
People's Bank of China to meet their hard currency needs,
including payments on multilateral obligations, including to US. That dependence

(16:52):
is leverage for Beijing. And what Descent and Trump are
doing here If the US offers a dollar life flannel
market terms. That means Argentina can pivot toward US as
a friend and reduce their reliance on an adversary, both
to them in my opinion, and certainly to us. And

(17:15):
then it anchors that reform inside the rules based dollar
system that we lead the world. This is another realignment
taking place. This is a geopolitical alignment achieved through finance,
not through force. And it's the opposite end end of

(17:37):
what we consider generically as foreign aid.

Speaker 2 (17:41):
What is it.

Speaker 3 (17:41):
It's a short term bridge with outside strategic benefits. So
while the stupid Democrats are arguing about a shut down
and providing healthcare to illegal aliens, the work of the
first agenda contendents unobated and I think completely oblivious to

(18:06):
Democrat change is afoot.

Speaker 1 (18:10):
It's the United States federal government is only supposed to
provide national defense and help with interstate commerce and prevent
uprisings inside of states. Why do we care if it
shuts down all the non essential services?

Speaker 3 (18:33):
Because we have developed over time, starting with Woodrow Wilson,
accelerating through Roosevelt's New Deal, and then getting into hyperwarp
speed with lbj's War on Poverty and the Great Society
and then starting to increase incrementally, incrementally incrementally until.

Speaker 2 (18:56):
Oh, Bill Clinton for one.

Speaker 3 (18:59):
Fiscal year about the budget, and then Ronald Reagan actually
cut the budget one time, and then post that, everybody
just kept increasing, increasing, increasing, and then the pandemic comes
along and instead of having a you know, an average
of a four trillion dollar a year budget, now we
got to know I have six to seven trillion dollars
a year budget. So that metastatic cancer that is the

(19:21):
federal government dis continued.

Speaker 2 (19:23):
To grow and grow and grow. And the human.

Speaker 3 (19:28):
Nature aspect of it that you have to that you've
got to understand is that when you give somebody something
that they perceive as being free, you and I know
that it's not free. I haven't listened to it yet,
so I don't know if it's clean or not. So
I don't know whether I can play it or not.
But there is a TikToker who is really upset my

(19:52):
Actually it's on X my food stamps got cut. Now
now I can't buy pop, cereal and chips. Well, sweetheart,
get a job, go do something. And if you're really
that destitute, maybe you shouldn't be buying pop, cereal and chips.

(20:13):
That's not really nutritious and not good for you, and
I'm paying for it. I don't want to pay for it.
But how many if I said, if I said, I
don't care about this all right? She doesn't look to
be like it's not like an elderly woman. She's not

(20:35):
eighty years old. She looks like she might be in
her twenties. I don't give her rats, ass, I don't welcome.

Speaker 2 (20:42):
To the real world.

Speaker 3 (20:43):
You want to eat, you had to do something to
earn some money to eat, but not in this country. No,
not in this country. She's upset that her snap or
whatever she's using her food stamps as she calls him
is has been cut off. Not only what it's because
of the shutdown or what as you just appeared on
my timeline. But people get accustomed to that and then

(21:09):
it goes away. Think of the difference though, between like
our friend of the Dakotas, who just as long as
my retirement benefits that I paid into continue to get
paid back to me, that I don't care whether the
government shuts down or not. What's the difference between what
he's saying and what this girl is saying. What he's

(21:31):
saying is as a taxpayer, every single paycheck I took
home less than what I was paid by my company
because of income tax, state income tax, all the fight
of taxes, Medicare, Social Security, Medicaid, everything, all those taxes
paid out and I was promised by the government that

(21:53):
they would pay that money back to me in Social
Security benefits. So he has a legitimate entitlement. Now, whether
that legitimate entitlement should should continue for people in the
future that are coming into the workforce, I don't think so,
because it's unsustainable unless we start to get out of

(22:18):
this negative growth and this depopulation that we're going through
and we actually create more workers, or they pay more,
No doubt, they want to pay more. People get fat, dumb, lazy,
and happy with so called free stuff.

Speaker 2 (22:39):
Now what she's.

Speaker 3 (22:39):
Getting, I bet my life. But she thinks it's free.
She doesn't realize that I'm paying for it. Dragon's paying
for it. You're paying for it. And that's why it's
so difficult to reduce the size of the federal government,
because so many of those unnecessary things stop and thinking,
you know, let's take it to say it to immigration

(23:01):
for a moment. Illegal aliens probably don't know whether the
government has shut down or not, but I'll tell you
who does. The non government organizations, the NGOs that rely
on you and me as taxpayers. Let's quit saying the government.

(23:22):
Those NGOs that provide them legal services, housing services, medical services,
everything you can possibly imagine, telephone, cell phones, you name it.
They get everything. The government doesn't pay for that. You
and I pay for that. We pay for that through
our taxes, and the taxes we pay are not sufficient

(23:43):
to cover all of those costs, so we borrow, and
then when we borrow, we have to issue treasuries so
that we can actually convert some to cash so that
we can have the money to pay for her food stamps.
Now we're paying a double whimmy. We're paying an NGO

(24:05):
to pay her, or to pay an illegal alien. Now
they're getting cut off because the government shut down. Meanwhile,
the expenses continue. Because of all the things we've done,
the debt service is now the largest item in the
federal budget. We pay more on credit card interests, so

(24:25):
to speak, than we do on national defense or even
the entitlement programs, which we are required to do. Because
we paid in those FICA taxes, Social Security, medicare, medicay taxes,
and now we're paying double because even all of that
that we paid was not enough and so we had

(24:47):
to go borrow. All we're trying to do is to
eliminate those things. It's it is in concept, very simple.
We're spending to much money, the Democrats. We're spending too
much money as it is right now, even with Trump's recisions,

(25:09):
even with the money coming in from you know, Trump's
that he's gotten all of these companies to invest in
America manufacturing and productivity and businesses and everything. Even with
all of that, even with income from tariffs, even with
reduction in taxes which increases income, there's still enough, not

(25:30):
enough money to cover the budget. And on top of that,
Democrats wanted to spend an additional trillion dollars. Trillion dollars.
They are effing insane. And the fact that we just
continue to have these stupid battles with stupid people like

(25:50):
this girl. I'll listen to it during the break. Let
me see if I can play it for you. We've
raised an entire generation.

Speaker 2 (25:59):
They don't.

Speaker 3 (26:00):
Do you think that this dits understands anything that I
talked about about what we're doing with Argentina, which in
terms of global geopolitics is probably something pretty important to
do and actually actually has an ROI. We will get
money back from that. That's a business transaction in which

(26:21):
we're investing in Argentina's future, which will help stabilize South America,
keep the Chinese at bay, and at the same time
return money to the treasury. Do you think she understands
any of that concept whatsoever? Know, because she's stupid, and
she's stupid because she's been educated in the government schools
and all I want to do. I'm sure she's really

(26:42):
upset today about the governmenting shut down because oh, I
can't reload my EBT card. Sucks to be you, doesn't it.

Speaker 1 (26:53):
By the way, Maxine Waters didn't say that the Democrats
want to provide health care for legals.

Speaker 2 (27:00):
She said they want to.

Speaker 5 (27:01):
Provide healthcare for everyone the entire world, So.

Speaker 2 (27:07):
Open up your pocketbooks, agreed.

Speaker 3 (27:11):
That's what Democrats do want to do. They do want
nationalized healthcare. They want a national health service just like
the United Kingdom as they want socialized medicine, which invariably fails.
If you understand what's going on with the NHS. So yes,
that is true, But what else is true at the
same time is that she did not deny that they

(27:34):
as part of their shutdown. Reasoning is that they don't
want to eliminate the healthcare that is being given to
illegal aliens. But to go back to my point about,
we've raised a generation of people who have an expectation that.

Speaker 2 (27:55):
They are entitled, and I think this woman personifies the illiterate, the.

Speaker 3 (28:16):
You know, the baby mama that's got a bunch of kids.
I don't know anything about her background, but what I
can see, at least in the video which you'll be
able to see it in a minute up on Michael
says go here dot com. She's not living in a chanty.
She's not living in some lean to. She has what

(28:36):
it appears to be at least a for mica, if
not a granite countertop. She's I don't mean well dressed
in the sense that she's dressed formally, but her clothes
aren't ragged. She has a computer which obviously has a
cam that she's able to do something on TikTok or x.

Speaker 2 (29:02):
And she says this, you know.

Speaker 1 (29:06):
What I'm sick of.

Speaker 4 (29:07):
I'm sick of the food stamp.

Speaker 6 (29:08):
Offen said, Hey, okay, hang on, hang on, before I
get myself worked up. I just came here to talk
about how I went.

Speaker 2 (29:18):
I went from.

Speaker 6 (29:18):
Literally seventeen hundred dollars in food stamps for a family
of three.

Speaker 4 (29:24):
Okay, I don't work.

Speaker 6 (29:26):
I stay home every day. I'm not able to work,
So I should be getting the maximum mouse.

Speaker 2 (29:32):
I should be. I'm entitled to it.

Speaker 6 (29:36):
Especially because he needs cereal chips, pop. He needs all that,
and I need my energy drink.

Speaker 2 (29:43):
Oh you know, I miss that the first time, and
she needs her energy drinks. She's got to deal with
the rug rats. You need it.

Speaker 3 (29:50):
Yeah, you know, I guess I should. I let me
just rewind the tape and just eliminate everything I said
about this.

Speaker 2 (29:59):
Dumb So I'm not.

Speaker 6 (30:01):
Gonna have this taking me down from that much. And
they took me all the way down to one one
hundred and twenty dollars. Well, they didn't even tell me why.
I just got this notice in here. It says they
were cutting me back on food stamps. So now I'm
really gonna have to cut back on everything. He's not
gonna be able to have his pop no more. He's

(30:22):
not gonna be able to have his cereal every day
for breakfast and his ships that.

Speaker 2 (30:25):
He eats all day long.

Speaker 5 (30:27):
Wow, great, thanks, thanks.

Speaker 3 (30:30):
Make them unhealthy again. Meanwhile, Democrats are determined that we're
not going to reduce the size.

Speaker 2 (30:38):
Of the government.

Speaker 3 (30:39):
Chuck Schumer appeared just a little while ago on CNN,
and he didn't go too well.

Speaker 7 (30:45):
One of the things that Republicans are also doing, and
they're doing in the White House press be firm. It's
a running sound of Democrats talking about shutdowns in the past,
including sound of you. This is the type of thing
you've said about shutdowns in the past.

Speaker 2 (30:56):
Let's listen.

Speaker 5 (31:00):
If I persuaded my caucus to say I'm going to
shut the government down, I'm going to not pay our
bills unless I get my way, it's a politics of idiocy,
of confrontation, of paralysis. Shutting down government over a policy
difference is self defeating. We can never hold American workers
hostage again. While the CR bill is very bad, the

(31:23):
potential for a shutdown has consequences for America.

Speaker 2 (31:28):
That are much much worse.

Speaker 5 (31:30):
Therefore, I will vote to keep the government open and
not shut it down.

Speaker 2 (31:37):
That was you three times. That is good what's it.

Speaker 5 (31:41):
Yeah, that was in March, John, before they had done
these horrible things to healthcare, before they had introduced these
recisions which would allow them to ignore the budget process.
And the bottom line is when I was majority, hang on.

Speaker 3 (31:56):
The recisions are permitted under the Impoundment Act. Yes, that's
a law, Chuck, that the House and the Senate passed,
is sent to the President and he signed. I think
I think it was done back during Reagan, maybe been
before that, maybe been done during Nixon. Anyway, the Impoundment

(32:16):
Act is almost as old as you are.

Speaker 2 (32:19):
Chucked, Arty Leader.

Speaker 5 (32:21):
We had thirteen times to vote on a budget.

Speaker 2 (32:24):
Do you know why there was no shutdown?

Speaker 5 (32:26):
We sat and negotiated with the Republicans every.

Speaker 2 (32:29):
Time, and the Republicans caved every time.

Speaker 3 (32:32):
Oh between that and the woman who's bitching because her
rug rat can't eat his chips all day long.

Speaker 2 (32:43):
I have one word. The word of the day is loathe.

Speaker 3 (32:46):
La th e loathe