August 1, 2024 • 34 mins
Going beyond interest rate news to real understanding
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Speaker 1 (00:00):
Hey, gang, it's me Michael. You can listen to your
morning show live. Make us a part of your morning
routine or your drive to work companion on great stations
like Talk Radio ninety eight point three and fifteen ten
WLAC in Nashville, Tuopulos News and Talk one to one
point one and ten sixty WKMQ, and how about Talk
six fifty KSTE in Sacramento, California. Love to have you
(00:21):
listen live, but are grateful you're here now for the
podcast Enjoy two three starting your morning off right.
Speaker 2 (00:30):
A new way of talk, a new way of understanding,
because we're in this stiget.
Speaker 1 (00:37):
This is your morning show with Michael Dell John. What
might that mean? A new way of understanding? Used to
be here on the radio and they would tell you
the who, what, where, when?
Speaker 2 (00:49):
Why?
Speaker 1 (00:51):
So yesterday the FED held interest rates steady, And then
maybe some people would endeavor to tell you what that
means to you. Every program director used to coach their
talent on that. Get in the minds of the listener,
tell them what it means to them, show them what
it means that that's not really understanding. Just telling you
the FED held interest rates is just a simple fact.
It's just awareness. It's not understanding what caused the interest
(01:15):
rates to rise, what caused inflation that caused the interest
rates to rise. Spending led to inflation led to interest rates.
I'll do you one better. Imagine if we just made
them one percent tomorrow? What would happen? Like weaning off
(01:38):
an an outepressant too fast. David Bonson is our money wiz.
He helps us so much with understanding. All right, So
David my Bonsen Financial Group first and foremost not shocked
that they held it steady like everyone else. I would
assume maybe September October somewhere around there we'll get our
first cut. But why is it we never discuss what
(01:59):
caused the inflation that caused the interest rates to rise,
to ease the inflation. That part gets all lost, doesn't.
Speaker 3 (02:07):
Well, it does. And I really want to make clear
what I believe about government spending and inflation, because I
don't think that government spending directly caused this inflation or
causes inflation in general. I think it does something much
worse than that. But I do think that you're exactly
right understanding what caused inflation and understanding why the FED
(02:32):
raised interest rates and why they need not cut rates.
It's very important. I think there's a lot of bad
information out there. But I do think that when we
say government spending causes inflation, and then inflation comes down,
and the government didn't stop stop spending, and in facts
continue to spend more. And when we say the FED
(02:55):
caused inflation by racing too low, and then the FED
can fix inflation by race using rates, all things I
totally disagree with and can prove or not correct through
the testimony of history. What we are doing is giving
the power to the government. We're giving the power to
the FED, and it's a power I don't think they
use very well. It's a power I don't think they deserve.
(03:17):
But I really believe that the testimony of Japan is
extremely important. No country on Earth is spent more, No
country on Earth has been more reckless with monetary policy.
Two hundred and fifty percent debt to GDP, we're just
at a lowly one hundred percent. We pale in comparison
(03:38):
to them, and they have had negative inflation for thirty years.
So this stuff's really important to me that we get right,
all right.
Speaker 1 (03:45):
So in this particular case, though, COVID shutting, by the way,
not just COVID didn't cause it. The response to COVID
caused it. So Fauci scared the death out of the president.
The president bought the Fauci scare, closed down every business,
pick and choose who could stay open, who then who
(04:06):
could reopen, and how they would run when they reopened,
but basically sent everybody home, closed every business down, and
paid people to stay home. That rush of money unearned
into the economy did cause inflation.
Speaker 3 (04:20):
Well, I think it was definitely a factor. But you
said the first part before the money going to people,
and the first part was the shutdown. And it's by
a factor of ten to one a bigger deal. When
we give people two thousand dollars that Trump wanted to
give everyone they get the money, there's a sugar high
to go spend it. The person who receives it might
(04:42):
even But then at some point that money gets extinguished,
it stops turning over. It's what we call velocity of money,
and we have brutally low velocity. Inflation is when the
money supplied goes up times the velocity, So a negative
velosophy times a higher money supply has tended to offset,
(05:05):
which is one of the reasons we've had very, very
low inflation for thirty years, because we've had a low
velocity of money, which is to say, the money turning
over in the economy autoly. It helps to give people
two thousand dollars. I vehemently disagreed with President Trump when
he did it. I vehemently disagreed when he wanted to
do it in the lame duck. The Senate ended up
doing six hundred dollars a month. I'd vmily disagreed to
(05:28):
Biden when he came in and did the other fourteen hundred.
But when all said and done, that amounted to a
reasonably small amount of money. Of the money they added
into circulation, the PPP from that first Trump Bill and
some some of those things outed a lot more money.
But shut down of goods and services is the issue,
(05:49):
because Milton Friedman taught us. And if there's only one
thing of all the yapping I'm doing today that our listeners,
that our listeners would remember, it's this line. Inflation is
too much money chasing too few goods and services. So
everybody focuses on the too much money part. We'd print
(06:10):
too much money or they spend too much money, but
it is relative to the goods and services in the economy.
I would rather have an economy with more money circulating
because we have more goods and services in the economy.
What they did was shut us down and then they
reopened it and were just shocked. If we wanted to
(06:31):
go out and live their lives.
Speaker 1 (06:33):
Money was David Bonsen kind of going into a deep
dive of understanding and interest rates and how we got
here and the Fed's decision. What would happen if what
if the Fed had decided yesterday you take interest down,
interest rates down to two percent, what would happen?
Speaker 3 (06:48):
Well, I mean they hadn't telegraphed it already, and if
markets weren't expecting it and prepared for it, then it
would be one of the most you know, shocking kind
of things ever. But the Fed won't do that telegraph
and they use a tool called forward guidance to kind
of prepare markets for what's going to happen ahead of time.
But if they had done it, then obviously markets sort
(07:10):
of been utterly shocked. The bond market would have rallied
like probably no bond rally in history. And yet I
think that it would just prove to be highly distorted.
What it would not be is inflationary. It would be
the opposite of inflationary, because what we see in Japan
is that there is a diminishing return with excessive monetary policy.
(07:35):
That effectively what you've done with excessively low rates all
those years is that you have passed the point where
it has in the efficacy where it's stimulative. And so
the factor of higher government debt puts downward pressure on
future nominal growth, not upward pressure. Right, And so when
(07:57):
we have to fact just think of it your own household.
If you think you're going to get a bonus next year,
and you go out and spend that bonus now, and
perhaps even spend a little bit more than that bonus now.
But even if you only spend the amount of the
future anticipated bonus now, what is the growth in the
future when you get your bonus?
Speaker 1 (08:18):
It is zero zero?
Speaker 3 (08:19):
Okay, we are taking future growth and putting it into
the present. That is called downward.
Speaker 1 (08:25):
Pressure on it. And what would it do to like
home values that everybody's so concerned about. The home values
are high, inventories down, interest rates are high. Nobody can
make them move.
Speaker 3 (08:35):
That's a great question, and this actually gets a little
tricky because it's certainly accessibly. Low rates is what helped
boost home values before, and everybody is so shocked that
high rates have not brought prices down. But the reason
is because everybody is frozen. Sellers don't want to sell
(08:58):
because why they know low rates are coming lower, So
all you've done is just take away activity. Paradoxically, I
could make an argument that lower rates would give a
sugar higher prices for a little bit, and then would
actually help bring prices down because you'd bring the buyers
back in and needed to clear the market. We have
(09:20):
way too little supply and a lot of these sellers
looking to sell and would get out. Buyers would get
the lower rate they want. Sellers don't want to sell
and have to go buy a new house and replace
their three percent mortgage with a seven percent mortgage. I
think lower rates would clear the market and then everybody
could say, oh my gosh, these prices are way too high,
what are we doing? And you would end up with
(09:42):
a ten twenty five percent Correctly, the.
Speaker 1 (09:44):
Reason I asked the question is it's so fascinating to
me right now, A lot of people are sitting on
a home that in some cases is tripled in value,
but you can't go anywhere because you'd pay the same
amount for something less at a higher interest rate. But
when those interest rates come down, I actually believe your
home value will go so sky high, even higher for
a period of time. That would be the time to
(10:05):
make the move. And that's exactly what I'm planning to do.
But I think we've got a lot of time to
plan for that. The meantime, Fed's gonna hold it steady,
although you do anticipate we'll probably get our first cut
September October somewhere in there.
Speaker 3 (10:18):
September to the market right now is one hundred percent
pricing and what's called the FED funds futures market, So
real people with root money are as one hundred percent
chance you get a cut in September, and then another
cut in December, and we end the year a half
a point lower than we are now.
Speaker 1 (10:34):
David Bonson with a Boons and Financial group, Gosh, we
appreciate your insights so much. We take us beyond news
into understanding and the true causes is a great book,
by the way, called Full Time. Encourage every believer out
there to read so you can understand your calling, your identity,
and your purpose. Full timebook dot com is the place
to get that and we'll talk next Thursday. David god Bless,
(10:54):
thanks so much, Michael. This is your morning show with
myno thanks for waking up with your morning show. On
Michael del Journal. Former President Trump says he will go
back to the city of his attempted assassination. VP Kamala
Harris presidential candidate, hitting back at former President Trump over
questioning her heritage. The FED left interest rates alone and unchanged.
(11:16):
The US leads the world with thirty medals, but the
host nation France is closing the gap at twenty six.
And we got NFL football tonight, the Hall of Fame
game the Houston Texans and the Chicago Bears from Canton,
Ohio on ABCESPM at eight eastern. John Decker is a
bar attorney of the Supreme Court. He's also the White
(11:37):
House correspondent. That was a crazy day yesterday. I think
I was focused all on wars and rumors of wars
and escalation of wars, and then we got whatever that
was in Chicago. So now the ugliness of campaigning has begun.
Speaker 2 (11:53):
Yeah, well, you know it'd begun earlier, you know, when
you had various Republicans labeling the Democratic presidential nominee as
a DEI candidate. So the ugliness began several weeks earlier,
but it reached a crescendo yesterday in Chicago. Not helpful
to Donald Trump. Not helpful to Donald Trump if you're
trying to win Pennsylvania, if you're trying to win Michigan, Michigan,
(12:17):
trying to win Wisconsin, if you're trying to win Georgia,
each of those states and North Carolina for that matter,
each of those states' sizeable black populations. And yeah, less
today can only energize the black electorate in those particular states.
That will make it that much more difficult for Donald
Trump to win in November.
Speaker 1 (12:37):
Yeah, we might see this differently in that it sure
felt like an ambush. The question was an ambush. He
answered it the first time, flawlessly, called her on a rudeness,
answered the question, went through a list of all the
things that he has done for Black Americans, which answers
your question why they should vote for him. It was
the second time a row where she's throwing what other
(12:58):
people have said what you've drawn right to that he
gets into. Well, I don't really know her. She seemed
like she was Indian, then she wanted to be black.
That part not so much. And it would be very
interesting John for people on the right side of the
matrix to say, yeah, Donald gave it to him. Well,
that's a room full of black journalists who are going
to be doing nothing but writing and trying to persuade
(13:18):
black voters between now and then and how they perceive
it or how the news took it and ran today
playing just that clip. I'm with you, not so fast
and probably not so good for Donald Trump, who was
on a role, you know, taking what about twenty percent
of the black vote, which would make all the difference
in swing states. It may be a turning point here
if he's not careful.
Speaker 2 (13:40):
Yeah, and that's called an unforced error inforced error also
in sports. But it really is, you know, in the
sense that it was an invitation that Donald Trump sought
this speaking to the NABJ convention in Chicago, the National
Association of Black Journalists Chicago. It's an event that formed
(14:03):
that the current president, Joe Biden, intended to speak to.
But he's no longer a candidate. That's the reason why
he's not addressing the NAPJ And in any case, I
don't think it was a good event for Donald Trump
yesterday anyway you slice it.
Speaker 1 (14:17):
Yeah, time will tell Donald Trump.
Speaker 2 (14:19):
You can't say that was a good event.
Speaker 1 (14:21):
No, Well, time will tell. But I will tell you this.
We took an entire hour and I'm not going to
do that when I have the valuable time with you.
But we played it in its entirety. The first answer,
had he ended it there, taken his microphone off and
said this is unacceptable and left, would have been fine.
After that, they finally got him to bite the bait.
Now they're playing the bait. Now I agree with you.
All right. So if if Kamalis headed to the Swing States, YA,
(14:46):
and we know she's going to be in Pennsylvania on Tuesday,
and all indications are she's going to make her announcement Tuesday,
come on, it's got to be Shapiro, right, Yeah.
Speaker 2 (14:55):
I mean I can understand why people would say that,
But also you have to look at where the rollout
tours is going to the various cities. One of them
is Phoenix, Arizona, who represents the Stale, Arizona Senator Mark
Kelly exactly. So, look, Pennsylvania is an important state. You
can't ignore Pennsylvania. You can't ignore Philadelphia. So I can
(15:15):
understand why they're starting this rollout in Philadelphia. Maybe it
is Joshapiro, I don't know, but you know, I know
he's certainly among the finalists that Kamala Harris is considering.
And I believe that we'll see the roll out the
announcement as it relates to her running mate, not not
at just this campaign rally, but I think that it
(15:36):
will likely be on social media first. That's when we'll
first hear of it, similar to the way they rolled
out that endorsement from the Obamas, that too, is on.
Speaker 1 (15:45):
Social media right now. Closing moments, a White House correspondent
John Decker, you know as well as I do, that
these national polls don't mean anything. What matters are these
swing states because they're the ones that are going to
decide it. And when you really cut it all down,
it could be a couple of precincts and a couple
district surrounding Philadelphia in Pennsylvania, I mean Arizona, Arizona, Michigan, Wisconsin,
(16:07):
A're gonna be wrong. That would look more like the
twenty sixteen map. It's its own unique twenty twenty fourmat
But I don't know that. It's really hard to find
a way for the Democrats without Pennsylvania. That's got to
be priority one. And if you don't have Pennsylvania, well
then you got to get Arizona, Michigan, and Wisconsin. Not
just Arizona, not just Phoenix.
Speaker 2 (16:26):
Yeah, I mean they're going to be they being both
the Trump campaign and the Harris campaign are going to
be fighting tooth and nail for every inch of Pennsylvania.
I know that state backwards and forts. I think you
may know this. I used to be an aid to
a US Senator from Pennsylvania, so I used to travel
the state with I did not know that John, Yes,
(16:46):
Senator John Hines. You know heinz ketchup, that's Yes Hines.
I worked for John Hines many years ago. And look,
it's an important state. It's a state that once has
been described by James Carville as you have Philadelphia on
one side, Pittsburgh on the other side, and Alabama in
the middle. But that is a great joke and it's
(17:09):
relevant to what that state's all about.
Speaker 1 (17:11):
Yeah, it's a great joke because it's accurate. All right, well, John,
I'm officially changing my vote to Shapiro. You sticking with Kelly.
Speaker 2 (17:19):
Look, I don't know. I'm not making that bet.
Speaker 1 (17:22):
You know.
Speaker 2 (17:23):
We'll see Ahi.
Speaker 1 (17:24):
It's Michael. Your morning show can be heard on great
radio stations across the country like News Talk ninety two
point one and six hundred WREC in Memphis, Tennessee, or
thirteen hundred The Patriot Tulsa or Talk six fifty KSTE
in Sacramento, California. We invite you to listen live while
you're getting ready in the morning and to take us
along for the drive to work. But, as we always say,
better late than never. Thanks for joining us for the podcast.
(17:46):
Just got an email from Eric, who's listening at one
O four nine The Patriot in Saint Louis. You wanted
to know if we got the gnat yet.
Speaker 4 (17:55):
No.
Speaker 1 (17:55):
I still haven't gotten them. I've got a single gnat
in my studio and I can't kill him, and he
keeps biting me. And then the worst part is you
can see him better than I can. I'll just take
a floater to me. You haven't hit your microphone. Yet
I have on a couple of accades. I think this
is going to be a good month.
Speaker 5 (18:12):
You think, so?
Speaker 1 (18:13):
I have my little in my studio, my little daily devotion,
and the scripture today is Proverbs eleven twenty five. Generous
soul will be made rich, and he who waters will
also be watered himself. It's a great proverb pointing to
how you know Jesus said in the Sermon on the
(18:33):
Mount the great opposites, Right, you want to live, die,
you want to be first be lads, what's the lesson
of all of that? Life is best live given away.
Our lives are enriched by giving it away to others.
Let's do that in the month of August. All right,
on that godly, cheerful note will open up a nasty email.
(18:59):
Michael D the news propagandist. Uh, it's actually Michael Howard
del George. But yeah, okay, if you want to come
with the big propaganda. It is an appropriate question for
Trump to be asked, why should black people vote for
him considering all the bad things he has said about
black people. Well, that's if you make the connection between
(19:23):
what he said to someone and their race. So if
somebody of color, comes up to me and spits in
my face and pushes me. Did I punch him in
the face because he's black or because he walked up
and pushed me and spit in my face. That's the
problem with your rationale. And the technical question is why
should they vote for you? And he did answer, Now,
(19:44):
we did in the five o'clock hour. But she gives
this long Megan Kelly attack question, which Donald Trump calls
her on a rudeness, and then he gives the answer.
And if he'd ha taken his microphone off and just
left after that answer, it would have been a perfect
(20:04):
failed assassination attempt. It's when she later doubles back with
what other people have said that John Decker just repeated,
to which Donald Trump should have said, Well, you would
have to go interview them to find out why they're
saying that. I'm not focused on Kamala Harris. I'm focused
on all Americans and Black Americans, what I've done for
them and what I'm going to do for them. Yes,
(20:26):
that would have been the wise answer. They control the media,
especially in that room. So you've taken away twenty percent
of the black vote and in swing states, that's the difference,
and you played right out of their hands on that question.
But the original one, by the way, I'm not a propagandist.
I was just trying to understand it. I learned a
(20:47):
lot yesterday thanks to all this nonsense. I had to
go find out that her father's name is Donald Donald Harris.
He's a Jamaican American born in Jamaica, a Stanford professor,
Amarica Artis. Her mother is Shyamala Goplan. She's from India,
South India. She's a biomedical scientist. They're both very impressive people.
(21:10):
I'm more impressed with who they are than what their
their racial makeup is. I never anybody ever send me
an email I hate you because you're Italian American. Who
cares that I'm Italian American? Just my doctor over my cholesterol.
That's about it. So I go and I study all this.
Now when you get to Jamaican. So she's half Jamaican,
half Indian, but Jamaican, even though we have two different things, right,
(21:35):
actual bloodline and ancestry, And then how someone politically correctly
identifies so, believe it or not, Jamaican's ninety two percent
identify as black, even though technically by blood. Seventy six
point three percent of them are of African descent. We
should be talking about what Kamala Harris stands for, what
(21:55):
Kamala Harris has done or will do, not the makeup
of her parents. They're doing great as professors and bioscientists.
But that's the answer to it. But it was when
we got to Koringejean Pierre's response that I thought was
the most telling. So a reporter because it was happening
(22:17):
in real time, states to her everything that was going
on with Trump at the NABJ and then asks for
Kryn Jean Pierre to respond and listen to her response, Ah,
he is.
Speaker 6 (22:31):
A candidate, so I'm going to be super careful.
Speaker 1 (22:33):
Wait no, no, no, hold on, hold on.
Speaker 6 (22:35):
I have more to say. I certainly have more to
say as a person of color, as a black woman
who is in this position that is standing before you
at this podium, behind this lectern.
Speaker 1 (22:48):
What he by the way behind her is a blue
black drop and an American flag. She is wearing a
black sport coat with red striping and it appears to
be a white tea underneath. While we're just describing things
in the room, like a scene out of anchor. Man,
let's get on to her response.
Speaker 6 (23:05):
He just said what you just read out to me
is repulsive.
Speaker 1 (23:09):
It's insulting, repulsive and insulting.
Speaker 6 (23:15):
Why And you know, no one has any right to
tell someone who they are how they identify. That is
no one's right.
Speaker 1 (23:26):
No one has the right to question how someone identifies.
So what is she? Are we talking about her blood, blood,
lying ancestry or what she chooses to identify as there
are two different conversations. It reminds me when we were
going through COVID and I would always have to stop
listeners and go, well, wait a minute, do you want
(23:48):
to talk about this from a viral medical perspective or
are we talking about this from a cultural or political perspective?
I can do either. Just let me know which one
we're having at the end of the day, though, on
Decker's right, First of all, you got ambushed when you
agreed to be there. Biden was supposed to be there
with you. The question itself was ridiculous, in an ambush
(24:11):
handled perfectly by Trump and answered perfectly with all that
he's done for black people to ask for their vote.
But when they come doubling back with what other people
said it's a diversity inclusion DEI higher, equity inclusion higher.
He should have just said, we'll go talk to them.
I didn't say it, but he didn't. Then he gets
(24:34):
into whether he knew he or not. How she identified
his Indian and she does primarily identifies Indian. We played
you about five examples of that and they're viral all
over the internet. At the end of the day, we
live in a matrix. How is this going to play? Well?
The Right's going to say, boy, Trump stuck it to her,
what a great answer. Oh man, he really gave it
to the media, and the left is now questioning, and
(24:57):
the narrative has shifted from well the Democrat that's always
take us for granted. The Democrats always panner to us,
but they never deliver. The Democrats allowed a border invasion
that has taken away all of our facilities and funding
to US legal black Americans. They have failed us. It's
time to consider that our life was better under Donald Trump.
That narrative now is Donald Trump a racist again? And
(25:18):
how it plays? I can't answer. That's up to black voters,
especially in swing precincts, of swing districts, of swing cities
and metropolitan areas in swing states. Time will tell, but
that's the game that was played yesterday, and why we're
focused on that and not a war between Israel now
expanding to Iran, or maybe even a world war with
(25:41):
Russia and China getting in, or why we're not talking
about fentanyl or a border invasion or what I thought
was the biggest story of the day that i'ven't had
time to get to because of all this nonsense, which
was the Lawful Pathways program of the Biden Harris administration
that was flying people in and the report shows ninety
three percent of them were not refugees coming here to
(26:03):
escape something. They were coming here because they chose to
come here. That's aiding in an invasion and breaking the
law and flying them in and putting them in our cities.
That's a scandal in an area of number one priority
of this election and a number one issue of not
(26:23):
only national homeland security but financial security. And no one's
talking about that, and everything's talking about this ridiculous exchange
that took place in Chicago. That's how you control the narrative, gang,
and that's how you wake up this morning and nobody
has seen what actually happened in Chicago. They're just hearing
(26:45):
Donald Trump's a racist. He falsely suggested Kamala Harris asn't black,
he attacked her for being black. Harris's response, this is
the divisive Trump we know, and America deserves better. These
are the games they play, because after all, it's a
shadow campaign to save democracy, and we know who moves
(27:09):
best in shadows.
Speaker 7 (27:12):
I'm Daniel COLSNY in Tampa, and my morning show is
your Morning Show with Michael dell Jornam.
Speaker 1 (27:17):
I'm Michael del Chorna.
Speaker 6 (27:18):
Well.
Speaker 1 (27:19):
Donald Trump was attacked by an ABC reporter at a
Black Journalist convention in Chicago. Brian Shook as our Rocky
Road to the White House.
Speaker 7 (27:26):
Former President Trump clashed with reporters that the National Association
of Black Journalist's annual convention in Chicago Wednesday. Trump took
issue with ABC News congressional correspondent Rachel Scott's opening line
of questioning, Well, first of all, I don't think I've
ever been asked a question so in such a horrible manner.
Speaker 1 (27:48):
A first question, you.
Speaker 3 (27:49):
Don't even say hello, how are you?
Speaker 1 (27:52):
Are you with ABC? Because I think they're a fake news.
Speaker 7 (27:55):
Network, Scott asked Trump why black voters should trust him
following disparaging comments he's made about his political opponents in
the past. Trump called the introduction disgraceful and rude. In Washington,
I'm Brian Shook.
Speaker 1 (28:09):
Well. The DNC has big plans to kick off their
convention with President Biden. Mark Mayfield has that story.
Speaker 5 (28:15):
Reports saying the president's speech will focus on passing the
torch to Vice President Kamala Harris. The convention that's sent
to begin August the nineteenth in Chicago. That's less than
a month since Biden made the decision to drop out
of the twenty twenty four presidential race and endorsed Harris.
Democrats will begin the process of officially nominating the party's
candidate for president with a virtual roll call on Thursday.
(28:37):
I'm Mark Mayfield.
Speaker 1 (28:38):
We have football tonight. The Hall of Fame game from Canton,
Ohio will kick off the season preseason. That is Houston
Texans and Chicago Bears. That'll be from Canton tonight at
eight o'clock on ABC and ESPN. The US added four
more medals yesterday. They now lead with thirty total medals,
but France, the host nation, is only four behind. Today,
the Women's gymnastics all around final will take centers stage
(29:00):
with Simone Biles and Sunny Lee. And that's your top
five stories of the day. Rory dropped the bomb of
the breaking news of the day, which is a hostage swap.
Let's start right there. Good morning Rory, Yeah, Good morning Michael.
Speaker 4 (29:12):
Finally, after years of waiting, it looks like there's been
movement on getting two American hostages released from Russia, including
Wall Street Journal reporter Evan Gershkovich and the former US
Marine Paul Wheeland. Wheeland has been held since twenty eighteen, convicted,
I think in twenty twenty on espionage charges. Gershkovich was
convicted just last month. Both men had been sentenced to
(29:34):
fourteen years in Russian prisons. Our State Department has said
they've been wrongfully held on trumped up political charges. Now,
this is a complicated deal, that's all we know. We
don't know who we're giving back to Russia. We know
that multiple nations are involved in this exchange, which could
be one of the largest ever with the US and Russia.
Speaker 1 (29:55):
And the hostages. Everybody is still laser focused on and
concerned about our American and his hostages and we don't
know how that's been complicated after the taking out of
a Hamas leader on Iranian soil. Meanwhile, I guess the
Iotol is somewhere right now plotting revenge. So we'll keep
an eye on wars and rumors of wars front what
is next in the Middle East rory and where should
(30:18):
we keep our eyes peeled at this moment.
Speaker 4 (30:21):
Well, we're waiting to see how Iran responds to Israel's
strike into Tehran taking out that political leader of Hamas.
We also got confirmation a few hours ago that the
military leader of Hamas was killed in a strike that
happened back on July thirteenth. So that would be the
top political leader and the top military leader for Hamas
(30:42):
had been taken out in the past couple of weeks
by Israeli forces. So it's a lot And now, of course,
with this attack into Tehran that certainly complicates things. As
Iran says it will respond directly to this move by Israel,
significant because Iran typically just sends cash and weapons to
(31:04):
its proxies Hesbela and Hamas, but in this case they
said they will respond directly.
Speaker 1 (31:09):
Well, and that's why we I think it was you
and I that were talking about it yesterday. A it
was embarrassing, all right. So this political leader of Hamas
is in Tehran, in Iran in a guest house, presumably
guarded by the Revolutionary Guard, and Israel takes them out
on their soil. That's embarrassing, but it's on their soil.
And the message it's sending is we know the proxy
(31:30):
war games you're playing with Hesbelan Hamas, and we'll come
right on your soil and decapitate the political and military
heads of that. Well. That would send them back to
your soil. And that takes it from being through the
proxies to a direct confrontation with Iran and Israel. We're
talking about Israel waging war where they supported Hamas and Hesbelah.
That's one thing. A direct war with Iran is something
(31:53):
completely different and a great escalation.
Speaker 4 (31:56):
And look, earlier this year we saw that massive drone
strike that Iran launched and had telegraphed to Israel, you know,
again as another saving face maneuver, and then just about
every drone was taken out and missile and rocket as well,
intercepted by either the Iron Dome or American planes or
a combination of everything. So yeah, but now we're gonna
(32:19):
it's also interesting that this guy that was taken out
the head of a mass was not Iranian, right, so
do they temper this because he was just a guest
and you know he's your enemy, but you didn't take
out Iranians, So I don't know if that's gonna temper
Iran's result.
Speaker 1 (32:37):
And you've already got the US kind of walk in
the line with their involvement in Ukraine. And if they
walk their line a little too closely with their support
of Israel, then you start looking at China and Russia
and what their response might be. Quickly you go from
a proxy war to an Iranian Israel war to a
world war. I mean, you've got to be very careful
how this has played out.
Speaker 4 (32:57):
Right, And this is where the US has said, we
will always help Israel defend itself, but we won't necessarily
help Israel when they do things like go into Tehran
to take out this Hamas target. So I think that's
been the rough line in the sand that we've tried
to draw, is that we will help Israel defend itself,
but offensively it's a bit of a gray area.
Speaker 1 (33:18):
How do you keep this from escalating point? If you
are blinking or Biden, I presume ultimately you got to
cool this down, and you got to cool this down
in a hurry, right, and good luck, good luck. Right,
Because it was not an.
Speaker 4 (33:33):
Iranian citizen, I think that might help a little.
Speaker 1 (33:37):
Yeah, that's a great points. That's a great point. You know,
it reminds me of if we were all we were
all debating lock boxes and celicial security with Al Gore
and w. Bush and then some hanging chads and a
late decision and what did it really get defined by war?
Here we are talking about interest rates and inflation and
(33:57):
border and you know, something seems to be brewing. Yeah,
race today. Something tells me whoever our next leader is
about to inherit a real mess. Very great reporting as always,
We're talking again tomorrow. We're all in this together. This
is your morning Show with micha openheld show Now
Hey, gang, it's me Michael. You can listen to your
morning show live. Make us a part of your morning
routine or your drive to work companion on great stations
like Talk Radio ninety eight point three and fifteen ten
WLAC in Nashville, Tuopulos News and Talk one to one
point one and ten sixty WKMQ, and how about Talk
six fifty KSTE in Sacramento, California. Love to have you
(00:21):
listen live, but are grateful you're here now for the
podcast Enjoy two three starting your morning off right.
Speaker 2 (00:30):
A new way of talk, a new way of understanding,
because we're in this stiget.
Speaker 1 (00:37):
This is your morning show with Michael Dell John. What
might that mean? A new way of understanding? Used to
be here on the radio and they would tell you
the who, what, where, when?
Speaker 2 (00:49):
Why?
Speaker 1 (00:51):
So yesterday the FED held interest rates steady, And then
maybe some people would endeavor to tell you what that
means to you. Every program director used to coach their
talent on that. Get in the minds of the listener,
tell them what it means to them, show them what
it means that that's not really understanding. Just telling you
the FED held interest rates is just a simple fact.
It's just awareness. It's not understanding what caused the interest
(01:15):
rates to rise, what caused inflation that caused the interest
rates to rise. Spending led to inflation led to interest rates.
I'll do you one better. Imagine if we just made
them one percent tomorrow? What would happen? Like weaning off
(01:38):
an an outepressant too fast. David Bonson is our money wiz.
He helps us so much with understanding. All right, So
David my Bonsen Financial Group first and foremost not shocked
that they held it steady like everyone else. I would
assume maybe September October somewhere around there we'll get our
first cut. But why is it we never discuss what
(01:59):
caused the inflation that caused the interest rates to rise,
to ease the inflation. That part gets all lost, doesn't.
Speaker 3 (02:07):
Well, it does. And I really want to make clear
what I believe about government spending and inflation, because I
don't think that government spending directly caused this inflation or
causes inflation in general. I think it does something much
worse than that. But I do think that you're exactly
right understanding what caused inflation and understanding why the FED
(02:32):
raised interest rates and why they need not cut rates.
It's very important. I think there's a lot of bad
information out there. But I do think that when we
say government spending causes inflation, and then inflation comes down,
and the government didn't stop stop spending, and in facts
continue to spend more. And when we say the FED
(02:55):
caused inflation by racing too low, and then the FED
can fix inflation by race using rates, all things I
totally disagree with and can prove or not correct through
the testimony of history. What we are doing is giving
the power to the government. We're giving the power to
the FED, and it's a power I don't think they
use very well. It's a power I don't think they deserve.
(03:17):
But I really believe that the testimony of Japan is
extremely important. No country on Earth is spent more, No
country on Earth has been more reckless with monetary policy.
Two hundred and fifty percent debt to GDP, we're just
at a lowly one hundred percent. We pale in comparison
(03:38):
to them, and they have had negative inflation for thirty years.
So this stuff's really important to me that we get right,
all right.
Speaker 1 (03:45):
So in this particular case, though, COVID shutting, by the way,
not just COVID didn't cause it. The response to COVID
caused it. So Fauci scared the death out of the president.
The president bought the Fauci scare, closed down every business,
pick and choose who could stay open, who then who
(04:06):
could reopen, and how they would run when they reopened,
but basically sent everybody home, closed every business down, and
paid people to stay home. That rush of money unearned
into the economy did cause inflation.
Speaker 3 (04:20):
Well, I think it was definitely a factor. But you
said the first part before the money going to people,
and the first part was the shutdown. And it's by
a factor of ten to one a bigger deal. When
we give people two thousand dollars that Trump wanted to
give everyone they get the money, there's a sugar high
to go spend it. The person who receives it might
(04:42):
even But then at some point that money gets extinguished,
it stops turning over. It's what we call velocity of money,
and we have brutally low velocity. Inflation is when the
money supplied goes up times the velocity, So a negative
velosophy times a higher money supply has tended to offset,
(05:05):
which is one of the reasons we've had very, very
low inflation for thirty years, because we've had a low
velocity of money, which is to say, the money turning
over in the economy autoly. It helps to give people
two thousand dollars. I vehemently disagreed with President Trump when
he did it. I vehemently disagreed when he wanted to
do it in the lame duck. The Senate ended up
doing six hundred dollars a month. I'd vmily disagreed to
(05:28):
Biden when he came in and did the other fourteen hundred.
But when all said and done, that amounted to a
reasonably small amount of money. Of the money they added
into circulation, the PPP from that first Trump Bill and
some some of those things outed a lot more money.
But shut down of goods and services is the issue,
(05:49):
because Milton Friedman taught us. And if there's only one
thing of all the yapping I'm doing today that our listeners,
that our listeners would remember, it's this line. Inflation is
too much money chasing too few goods and services. So
everybody focuses on the too much money part. We'd print
(06:10):
too much money or they spend too much money, but
it is relative to the goods and services in the economy.
I would rather have an economy with more money circulating
because we have more goods and services in the economy.
What they did was shut us down and then they
reopened it and were just shocked. If we wanted to
(06:31):
go out and live their lives.
Speaker 1 (06:33):
Money was David Bonsen kind of going into a deep
dive of understanding and interest rates and how we got
here and the Fed's decision. What would happen if what
if the Fed had decided yesterday you take interest down,
interest rates down to two percent, what would happen?
Speaker 3 (06:48):
Well, I mean they hadn't telegraphed it already, and if
markets weren't expecting it and prepared for it, then it
would be one of the most you know, shocking kind
of things ever. But the Fed won't do that telegraph
and they use a tool called forward guidance to kind
of prepare markets for what's going to happen ahead of time.
But if they had done it, then obviously markets sort
(07:10):
of been utterly shocked. The bond market would have rallied
like probably no bond rally in history. And yet I
think that it would just prove to be highly distorted.
What it would not be is inflationary. It would be
the opposite of inflationary, because what we see in Japan
is that there is a diminishing return with excessive monetary policy.
(07:35):
That effectively what you've done with excessively low rates all
those years is that you have passed the point where
it has in the efficacy where it's stimulative. And so
the factor of higher government debt puts downward pressure on
future nominal growth, not upward pressure. Right, And so when
(07:57):
we have to fact just think of it your own household.
If you think you're going to get a bonus next year,
and you go out and spend that bonus now, and
perhaps even spend a little bit more than that bonus now.
But even if you only spend the amount of the
future anticipated bonus now, what is the growth in the
future when you get your bonus?
Speaker 1 (08:18):
It is zero zero?
Speaker 3 (08:19):
Okay, we are taking future growth and putting it into
the present. That is called downward.
Speaker 1 (08:25):
Pressure on it. And what would it do to like
home values that everybody's so concerned about. The home values
are high, inventories down, interest rates are high. Nobody can
make them move.
Speaker 3 (08:35):
That's a great question, and this actually gets a little
tricky because it's certainly accessibly. Low rates is what helped
boost home values before, and everybody is so shocked that
high rates have not brought prices down. But the reason
is because everybody is frozen. Sellers don't want to sell
(08:58):
because why they know low rates are coming lower, So
all you've done is just take away activity. Paradoxically, I
could make an argument that lower rates would give a
sugar higher prices for a little bit, and then would
actually help bring prices down because you'd bring the buyers
back in and needed to clear the market. We have
(09:20):
way too little supply and a lot of these sellers
looking to sell and would get out. Buyers would get
the lower rate they want. Sellers don't want to sell
and have to go buy a new house and replace
their three percent mortgage with a seven percent mortgage. I
think lower rates would clear the market and then everybody
could say, oh my gosh, these prices are way too high,
what are we doing? And you would end up with
(09:42):
a ten twenty five percent Correctly, the.
Speaker 1 (09:44):
Reason I asked the question is it's so fascinating to
me right now, A lot of people are sitting on
a home that in some cases is tripled in value,
but you can't go anywhere because you'd pay the same
amount for something less at a higher interest rate. But
when those interest rates come down, I actually believe your
home value will go so sky high, even higher for
a period of time. That would be the time to
(10:05):
make the move. And that's exactly what I'm planning to do.
But I think we've got a lot of time to
plan for that. The meantime, Fed's gonna hold it steady,
although you do anticipate we'll probably get our first cut
September October somewhere in there.
Speaker 3 (10:18):
September to the market right now is one hundred percent
pricing and what's called the FED funds futures market, So
real people with root money are as one hundred percent
chance you get a cut in September, and then another
cut in December, and we end the year a half
a point lower than we are now.
Speaker 1 (10:34):
David Bonson with a Boons and Financial group, Gosh, we
appreciate your insights so much. We take us beyond news
into understanding and the true causes is a great book,
by the way, called Full Time. Encourage every believer out
there to read so you can understand your calling, your identity,
and your purpose. Full timebook dot com is the place
to get that and we'll talk next Thursday. David god Bless,
(10:54):
thanks so much, Michael. This is your morning show with
myno thanks for waking up with your morning show. On
Michael del Journal. Former President Trump says he will go
back to the city of his attempted assassination. VP Kamala
Harris presidential candidate, hitting back at former President Trump over
questioning her heritage. The FED left interest rates alone and unchanged.
(11:16):
The US leads the world with thirty medals, but the
host nation France is closing the gap at twenty six.
And we got NFL football tonight, the Hall of Fame
game the Houston Texans and the Chicago Bears from Canton,
Ohio on ABCESPM at eight eastern. John Decker is a
bar attorney of the Supreme Court. He's also the White
(11:37):
House correspondent. That was a crazy day yesterday. I think
I was focused all on wars and rumors of wars
and escalation of wars, and then we got whatever that
was in Chicago. So now the ugliness of campaigning has begun.
Speaker 2 (11:53):
Yeah, well, you know it'd begun earlier, you know, when
you had various Republicans labeling the Democratic presidential nominee as
a DEI candidate. So the ugliness began several weeks earlier,
but it reached a crescendo yesterday in Chicago. Not helpful
to Donald Trump. Not helpful to Donald Trump if you're
trying to win Pennsylvania, if you're trying to win Michigan, Michigan,
(12:17):
trying to win Wisconsin, if you're trying to win Georgia,
each of those states and North Carolina for that matter,
each of those states' sizeable black populations. And yeah, less
today can only energize the black electorate in those particular states.
That will make it that much more difficult for Donald
Trump to win in November.
Speaker 1 (12:37):
Yeah, we might see this differently in that it sure
felt like an ambush. The question was an ambush. He
answered it the first time, flawlessly, called her on a rudeness,
answered the question, went through a list of all the
things that he has done for Black Americans, which answers
your question why they should vote for him. It was
the second time a row where she's throwing what other
(12:58):
people have said what you've drawn right to that he
gets into. Well, I don't really know her. She seemed
like she was Indian, then she wanted to be black.
That part not so much. And it would be very
interesting John for people on the right side of the
matrix to say, yeah, Donald gave it to him. Well,
that's a room full of black journalists who are going
to be doing nothing but writing and trying to persuade
(13:18):
black voters between now and then and how they perceive
it or how the news took it and ran today
playing just that clip. I'm with you, not so fast
and probably not so good for Donald Trump, who was
on a role, you know, taking what about twenty percent
of the black vote, which would make all the difference
in swing states. It may be a turning point here
if he's not careful.
Speaker 2 (13:40):
Yeah, and that's called an unforced error inforced error also
in sports. But it really is, you know, in the
sense that it was an invitation that Donald Trump sought
this speaking to the NABJ convention in Chicago, the National
Association of Black Journalists Chicago. It's an event that formed
(14:03):
that the current president, Joe Biden, intended to speak to.
But he's no longer a candidate. That's the reason why
he's not addressing the NAPJ And in any case, I
don't think it was a good event for Donald Trump
yesterday anyway you slice it.
Speaker 1 (14:17):
Yeah, time will tell Donald Trump.
Speaker 2 (14:19):
You can't say that was a good event.
Speaker 1 (14:21):
No, Well, time will tell. But I will tell you this.
We took an entire hour and I'm not going to
do that when I have the valuable time with you.
But we played it in its entirety. The first answer,
had he ended it there, taken his microphone off and
said this is unacceptable and left, would have been fine.
After that, they finally got him to bite the bait.
Now they're playing the bait. Now I agree with you.
All right. So if if Kamalis headed to the Swing States, YA,
(14:46):
and we know she's going to be in Pennsylvania on Tuesday,
and all indications are she's going to make her announcement Tuesday,
come on, it's got to be Shapiro, right, Yeah.
Speaker 2 (14:55):
I mean I can understand why people would say that,
But also you have to look at where the rollout
tours is going to the various cities. One of them
is Phoenix, Arizona, who represents the Stale, Arizona Senator Mark
Kelly exactly. So, look, Pennsylvania is an important state. You
can't ignore Pennsylvania. You can't ignore Philadelphia. So I can
(15:15):
understand why they're starting this rollout in Philadelphia. Maybe it
is Joshapiro, I don't know, but you know, I know
he's certainly among the finalists that Kamala Harris is considering.
And I believe that we'll see the roll out the
announcement as it relates to her running mate, not not
at just this campaign rally, but I think that it
(15:36):
will likely be on social media first. That's when we'll
first hear of it, similar to the way they rolled
out that endorsement from the Obamas, that too, is on.
Speaker 1 (15:45):
Social media right now. Closing moments, a White House correspondent
John Decker, you know as well as I do, that
these national polls don't mean anything. What matters are these
swing states because they're the ones that are going to
decide it. And when you really cut it all down,
it could be a couple of precincts and a couple
district surrounding Philadelphia in Pennsylvania, I mean Arizona, Arizona, Michigan, Wisconsin,
(16:07):
A're gonna be wrong. That would look more like the
twenty sixteen map. It's its own unique twenty twenty fourmat
But I don't know that. It's really hard to find
a way for the Democrats without Pennsylvania. That's got to
be priority one. And if you don't have Pennsylvania, well
then you got to get Arizona, Michigan, and Wisconsin. Not
just Arizona, not just Phoenix.
Speaker 2 (16:26):
Yeah, I mean they're going to be they being both
the Trump campaign and the Harris campaign are going to
be fighting tooth and nail for every inch of Pennsylvania.
I know that state backwards and forts. I think you
may know this. I used to be an aid to
a US Senator from Pennsylvania, so I used to travel
the state with I did not know that John, Yes,
(16:46):
Senator John Hines. You know heinz ketchup, that's Yes Hines.
I worked for John Hines many years ago. And look,
it's an important state. It's a state that once has
been described by James Carville as you have Philadelphia on
one side, Pittsburgh on the other side, and Alabama in
the middle. But that is a great joke and it's
(17:09):
relevant to what that state's all about.
Speaker 1 (17:11):
Yeah, it's a great joke because it's accurate. All right, well, John,
I'm officially changing my vote to Shapiro. You sticking with Kelly.
Speaker 2 (17:19):
Look, I don't know. I'm not making that bet.
Speaker 1 (17:22):
You know.
Speaker 2 (17:23):
We'll see Ahi.
Speaker 1 (17:24):
It's Michael. Your morning show can be heard on great
radio stations across the country like News Talk ninety two
point one and six hundred WREC in Memphis, Tennessee, or
thirteen hundred The Patriot Tulsa or Talk six fifty KSTE
in Sacramento, California. We invite you to listen live while
you're getting ready in the morning and to take us
along for the drive to work. But, as we always say,
better late than never. Thanks for joining us for the podcast.
(17:46):
Just got an email from Eric, who's listening at one
O four nine The Patriot in Saint Louis. You wanted
to know if we got the gnat yet.
Speaker 4 (17:55):
No.
Speaker 1 (17:55):
I still haven't gotten them. I've got a single gnat
in my studio and I can't kill him, and he
keeps biting me. And then the worst part is you
can see him better than I can. I'll just take
a floater to me. You haven't hit your microphone. Yet
I have on a couple of accades. I think this
is going to be a good month.
Speaker 5 (18:12):
You think, so?
Speaker 1 (18:13):
I have my little in my studio, my little daily devotion,
and the scripture today is Proverbs eleven twenty five. Generous
soul will be made rich, and he who waters will
also be watered himself. It's a great proverb pointing to
how you know Jesus said in the Sermon on the
(18:33):
Mount the great opposites, Right, you want to live, die,
you want to be first be lads, what's the lesson
of all of that? Life is best live given away.
Our lives are enriched by giving it away to others.
Let's do that in the month of August. All right,
on that godly, cheerful note will open up a nasty email.
(18:59):
Michael D the news propagandist. Uh, it's actually Michael Howard
del George. But yeah, okay, if you want to come
with the big propaganda. It is an appropriate question for
Trump to be asked, why should black people vote for
him considering all the bad things he has said about
black people. Well, that's if you make the connection between
(19:23):
what he said to someone and their race. So if
somebody of color, comes up to me and spits in
my face and pushes me. Did I punch him in
the face because he's black or because he walked up
and pushed me and spit in my face. That's the
problem with your rationale. And the technical question is why
should they vote for you? And he did answer, Now,
(19:44):
we did in the five o'clock hour. But she gives
this long Megan Kelly attack question, which Donald Trump calls
her on a rudeness, and then he gives the answer.
And if he'd ha taken his microphone off and just
left after that answer, it would have been a perfect
(20:04):
failed assassination attempt. It's when she later doubles back with
what other people have said that John Decker just repeated,
to which Donald Trump should have said, Well, you would
have to go interview them to find out why they're
saying that. I'm not focused on Kamala Harris. I'm focused
on all Americans and Black Americans, what I've done for
them and what I'm going to do for them. Yes,
(20:26):
that would have been the wise answer. They control the media,
especially in that room. So you've taken away twenty percent
of the black vote and in swing states, that's the difference,
and you played right out of their hands on that question.
But the original one, by the way, I'm not a propagandist.
I was just trying to understand it. I learned a
(20:47):
lot yesterday thanks to all this nonsense. I had to
go find out that her father's name is Donald Donald Harris.
He's a Jamaican American born in Jamaica, a Stanford professor,
Amarica Artis. Her mother is Shyamala Goplan. She's from India,
South India. She's a biomedical scientist. They're both very impressive people.
(21:10):
I'm more impressed with who they are than what their
their racial makeup is. I never anybody ever send me
an email I hate you because you're Italian American. Who
cares that I'm Italian American? Just my doctor over my cholesterol.
That's about it. So I go and I study all this.
Now when you get to Jamaican. So she's half Jamaican,
half Indian, but Jamaican, even though we have two different things, right,
(21:35):
actual bloodline and ancestry, And then how someone politically correctly
identifies so, believe it or not, Jamaican's ninety two percent
identify as black, even though technically by blood. Seventy six
point three percent of them are of African descent. We
should be talking about what Kamala Harris stands for, what
(21:55):
Kamala Harris has done or will do, not the makeup
of her parents. They're doing great as professors and bioscientists.
But that's the answer to it. But it was when
we got to Koringejean Pierre's response that I thought was
the most telling. So a reporter because it was happening
(22:17):
in real time, states to her everything that was going
on with Trump at the NABJ and then asks for
Kryn Jean Pierre to respond and listen to her response, Ah,
he is.
Speaker 6 (22:31):
A candidate, so I'm going to be super careful.
Speaker 1 (22:33):
Wait no, no, no, hold on, hold on.
Speaker 6 (22:35):
I have more to say. I certainly have more to
say as a person of color, as a black woman
who is in this position that is standing before you
at this podium, behind this lectern.
Speaker 1 (22:48):
What he by the way behind her is a blue
black drop and an American flag. She is wearing a
black sport coat with red striping and it appears to
be a white tea underneath. While we're just describing things
in the room, like a scene out of anchor. Man,
let's get on to her response.
Speaker 6 (23:05):
He just said what you just read out to me
is repulsive.
Speaker 1 (23:09):
It's insulting, repulsive and insulting.
Speaker 6 (23:15):
Why And you know, no one has any right to
tell someone who they are how they identify. That is
no one's right.
Speaker 1 (23:26):
No one has the right to question how someone identifies.
So what is she? Are we talking about her blood, blood,
lying ancestry or what she chooses to identify as there
are two different conversations. It reminds me when we were
going through COVID and I would always have to stop
listeners and go, well, wait a minute, do you want
(23:48):
to talk about this from a viral medical perspective or
are we talking about this from a cultural or political perspective?
I can do either. Just let me know which one
we're having at the end of the day, though, on
Decker's right, First of all, you got ambushed when you
agreed to be there. Biden was supposed to be there
with you. The question itself was ridiculous, in an ambush
(24:11):
handled perfectly by Trump and answered perfectly with all that
he's done for black people to ask for their vote.
But when they come doubling back with what other people
said it's a diversity inclusion DEI higher, equity inclusion higher.
He should have just said, we'll go talk to them.
I didn't say it, but he didn't. Then he gets
(24:34):
into whether he knew he or not. How she identified
his Indian and she does primarily identifies Indian. We played
you about five examples of that and they're viral all
over the internet. At the end of the day, we
live in a matrix. How is this going to play? Well?
The Right's going to say, boy, Trump stuck it to her,
what a great answer. Oh man, he really gave it
to the media, and the left is now questioning, and
(24:57):
the narrative has shifted from well the Democrat that's always
take us for granted. The Democrats always panner to us,
but they never deliver. The Democrats allowed a border invasion
that has taken away all of our facilities and funding
to US legal black Americans. They have failed us. It's
time to consider that our life was better under Donald Trump.
That narrative now is Donald Trump a racist again? And
(25:18):
how it plays? I can't answer. That's up to black voters,
especially in swing precincts, of swing districts, of swing cities
and metropolitan areas in swing states. Time will tell, but
that's the game that was played yesterday, and why we're
focused on that and not a war between Israel now
expanding to Iran, or maybe even a world war with
(25:41):
Russia and China getting in, or why we're not talking
about fentanyl or a border invasion or what I thought
was the biggest story of the day that i'ven't had
time to get to because of all this nonsense, which
was the Lawful Pathways program of the Biden Harris administration
that was flying people in and the report shows ninety
three percent of them were not refugees coming here to
(26:03):
escape something. They were coming here because they chose to
come here. That's aiding in an invasion and breaking the
law and flying them in and putting them in our cities.
That's a scandal in an area of number one priority
of this election and a number one issue of not
(26:23):
only national homeland security but financial security. And no one's
talking about that, and everything's talking about this ridiculous exchange
that took place in Chicago. That's how you control the narrative, gang,
and that's how you wake up this morning and nobody
has seen what actually happened in Chicago. They're just hearing
(26:45):
Donald Trump's a racist. He falsely suggested Kamala Harris asn't black,
he attacked her for being black. Harris's response, this is
the divisive Trump we know, and America deserves better. These
are the games they play, because after all, it's a
shadow campaign to save democracy, and we know who moves
(27:09):
best in shadows.
Speaker 7 (27:12):
I'm Daniel COLSNY in Tampa, and my morning show is
your Morning Show with Michael dell Jornam.
Speaker 1 (27:17):
I'm Michael del Chorna.
Speaker 6 (27:18):
Well.
Speaker 1 (27:19):
Donald Trump was attacked by an ABC reporter at a
Black Journalist convention in Chicago. Brian Shook as our Rocky
Road to the White House.
Speaker 7 (27:26):
Former President Trump clashed with reporters that the National Association
of Black Journalist's annual convention in Chicago Wednesday. Trump took
issue with ABC News congressional correspondent Rachel Scott's opening line
of questioning, Well, first of all, I don't think I've
ever been asked a question so in such a horrible manner.
Speaker 1 (27:48):
A first question, you.
Speaker 3 (27:49):
Don't even say hello, how are you?
Speaker 1 (27:52):
Are you with ABC? Because I think they're a fake news.
Speaker 7 (27:55):
Network, Scott asked Trump why black voters should trust him
following disparaging comments he's made about his political opponents in
the past. Trump called the introduction disgraceful and rude. In Washington,
I'm Brian Shook.
Speaker 1 (28:09):
Well. The DNC has big plans to kick off their
convention with President Biden. Mark Mayfield has that story.
Speaker 5 (28:15):
Reports saying the president's speech will focus on passing the
torch to Vice President Kamala Harris. The convention that's sent
to begin August the nineteenth in Chicago. That's less than
a month since Biden made the decision to drop out
of the twenty twenty four presidential race and endorsed Harris.
Democrats will begin the process of officially nominating the party's
candidate for president with a virtual roll call on Thursday.
(28:37):
I'm Mark Mayfield.
Speaker 1 (28:38):
We have football tonight. The Hall of Fame game from Canton,
Ohio will kick off the season preseason. That is Houston
Texans and Chicago Bears. That'll be from Canton tonight at
eight o'clock on ABC and ESPN. The US added four
more medals yesterday. They now lead with thirty total medals,
but France, the host nation, is only four behind. Today,
the Women's gymnastics all around final will take centers stage
(29:00):
with Simone Biles and Sunny Lee. And that's your top
five stories of the day. Rory dropped the bomb of
the breaking news of the day, which is a hostage swap.
Let's start right there. Good morning Rory, Yeah, Good morning Michael.
Speaker 4 (29:12):
Finally, after years of waiting, it looks like there's been
movement on getting two American hostages released from Russia, including
Wall Street Journal reporter Evan Gershkovich and the former US
Marine Paul Wheeland. Wheeland has been held since twenty eighteen, convicted,
I think in twenty twenty on espionage charges. Gershkovich was
convicted just last month. Both men had been sentenced to
(29:34):
fourteen years in Russian prisons. Our State Department has said
they've been wrongfully held on trumped up political charges. Now,
this is a complicated deal, that's all we know. We
don't know who we're giving back to Russia. We know
that multiple nations are involved in this exchange, which could
be one of the largest ever with the US and Russia.
Speaker 1 (29:55):
And the hostages. Everybody is still laser focused on and
concerned about our American and his hostages and we don't
know how that's been complicated after the taking out of
a Hamas leader on Iranian soil. Meanwhile, I guess the
Iotol is somewhere right now plotting revenge. So we'll keep
an eye on wars and rumors of wars front what
is next in the Middle East rory and where should
(30:18):
we keep our eyes peeled at this moment.
Speaker 4 (30:21):
Well, we're waiting to see how Iran responds to Israel's
strike into Tehran taking out that political leader of Hamas.
We also got confirmation a few hours ago that the
military leader of Hamas was killed in a strike that
happened back on July thirteenth. So that would be the
top political leader and the top military leader for Hamas
(30:42):
had been taken out in the past couple of weeks
by Israeli forces. So it's a lot And now, of course,
with this attack into Tehran that certainly complicates things. As
Iran says it will respond directly to this move by Israel,
significant because Iran typically just sends cash and weapons to
(31:04):
its proxies Hesbela and Hamas, but in this case they
said they will respond directly.
Speaker 1 (31:09):
Well, and that's why we I think it was you
and I that were talking about it yesterday. A it
was embarrassing, all right. So this political leader of Hamas
is in Tehran, in Iran in a guest house, presumably
guarded by the Revolutionary Guard, and Israel takes them out
on their soil. That's embarrassing, but it's on their soil.
And the message it's sending is we know the proxy
(31:30):
war games you're playing with Hesbelan Hamas, and we'll come
right on your soil and decapitate the political and military
heads of that. Well. That would send them back to
your soil. And that takes it from being through the
proxies to a direct confrontation with Iran and Israel. We're
talking about Israel waging war where they supported Hamas and Hesbelah.
That's one thing. A direct war with Iran is something
(31:53):
completely different and a great escalation.
Speaker 4 (31:56):
And look, earlier this year we saw that massive drone
strike that Iran launched and had telegraphed to Israel, you know,
again as another saving face maneuver, and then just about
every drone was taken out and missile and rocket as well,
intercepted by either the Iron Dome or American planes or
a combination of everything. So yeah, but now we're gonna
(32:19):
it's also interesting that this guy that was taken out
the head of a mass was not Iranian, right, so
do they temper this because he was just a guest
and you know he's your enemy, but you didn't take
out Iranians, So I don't know if that's gonna temper
Iran's result.
Speaker 1 (32:37):
And you've already got the US kind of walk in
the line with their involvement in Ukraine. And if they
walk their line a little too closely with their support
of Israel, then you start looking at China and Russia
and what their response might be. Quickly you go from
a proxy war to an Iranian Israel war to a
world war. I mean, you've got to be very careful
how this has played out.
Speaker 4 (32:57):
Right, And this is where the US has said, we
will always help Israel defend itself, but we won't necessarily
help Israel when they do things like go into Tehran
to take out this Hamas target. So I think that's
been the rough line in the sand that we've tried
to draw, is that we will help Israel defend itself,
but offensively it's a bit of a gray area.
Speaker 1 (33:18):
How do you keep this from escalating point? If you
are blinking or Biden, I presume ultimately you got to
cool this down, and you got to cool this down
in a hurry, right, and good luck, good luck. Right,
Because it was not an.
Speaker 4 (33:33):
Iranian citizen, I think that might help a little.
Speaker 1 (33:37):
Yeah, that's a great points. That's a great point. You know,
it reminds me of if we were all we were
all debating lock boxes and celicial security with Al Gore
and w. Bush and then some hanging chads and a
late decision and what did it really get defined by war?
Here we are talking about interest rates and inflation and
(33:57):
border and you know, something seems to be brewing. Yeah,
race today. Something tells me whoever our next leader is
about to inherit a real mess. Very great reporting as always,
We're talking again tomorrow. We're all in this together. This
is your morning Show with micha openheld show Now
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