08-15-24 Your Morning Show Hour 3

Beyond politics, what does the economic report actually reveal and signal is next

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Episode Transcript

Speaker 1 (00:00):
Hi, it's Michael.

Speaker 2 (00:01):
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Speaker 1 (00:14):
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Live while you're getting ready in the morning, to take
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always say, better late than never. Thanks for joining us
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Speaker 3 (00:23):
Well two three, starting your morning off right, A new
way of talk, a new way of understanding because we're
in this togib This is your morning show with Michael
Dell Joran.

Speaker 2 (00:40):
Good morning, six minutes after the hour. Welcome to Thursday,
the fifteenth of August twenty twenty four.

Speaker 1 (00:45):
This is your morning show.

Speaker 2 (00:47):
I'm Michael del Jornal here to serve you on the
air and of course on your iHeartRadio app. This is
kind of one of those life imitating art moments. Gina
Rowlands who played Ali the old older Alzheimer's years in
her son's movie The Notebook. In fact, her son, Nick
the director, said, you know, when we did the romantic

(01:09):
comedy I.

Speaker 1 (01:10):
Don't know that i'd view it as a comedy, but when.

Speaker 2 (01:13):
We did the Notebook, Mom played Ali at an older
age with Alzheimer's. We really studied Alzheimer's. We wanted to
really understand what the whole experience was like so that
she could play it as an actress. And then, of course,
ironically she gets Alzheimer's. Five years ago, she lost her

(01:34):
battle and died at the age of ninety three years old.
Gina Rowlands is ninety four years old, has passed away.
Very interesting twist of fate there. New Pole shows Kamala
Harris is now leading or tied with Donald Trump in
all but one of the swing states. She's riding a high,
and that high has it back to being a toss
up hunter. Biden hires a high profile criminal defense attorney.

(01:57):
One of my favorite stories of the day. Suddenly the
Department of Justice has located the transcit scripts that Robert
Hurr had of revealing Joe Biden's cognitive impairment that they
couldn't find when the committees needed it. Now that Joe
Biden has been disposed of, they suddenly have no problem

(02:19):
accessing it. And then Joe and Kamala at a time
Wherekam was trying to distance herself from the administration. They
will actually appear today as president and vice president.

Speaker 1 (02:28):
That'll be an interesting play.

Speaker 2 (02:29):
They're going to tell you who everything they've done is
worked as she will turn around and tell you as
a candidate that she's changing her views and distancing herself
from the policies of the previous administration.

Speaker 1 (02:39):
Good luck with that one.

Speaker 2 (02:41):
And everything is so matrixed and polarized and turned into
a political weapon. Sometimes you can't make sense of anything,
even an economic report. So inflation's at two point nine percent?

Speaker 1 (02:53):
Are we going in the right direction? Is that good?

Speaker 2 (02:55):
Do you really feel that when you go to the
grocery store. What's lost in all of this, of course,
is everything's up thirty percent, So what it's done in
a year is kind of im material if we don't
make up the ground of the last four years. So
what to make of unemployment ticking up? Inflation still at
about three percent, and we think the Fed wants it
closer to two before their lower rates. That's why we

(03:18):
have a non political money whiz, David Bonnson from the
Bonson Financial Group. You see him on Fox Business all
the time. He joins US Weekly to make sense of
all of this. So, David, this is an administration today
that's going to celebrate this report yesterday, while Americans, of course,
they're going to go to the store and they're not
going to be very celebratory. So what's the reality. What

(03:40):
do you make of these reports when they come out?

Speaker 4 (03:42):
Yeah, it's funny because when you say non political financial whiz.
I take the compliment about the financial part, but you know,
I think most people would say, oh, David is political
in the sense that, like you, I have political opinions.
I have a political worldview and political philosophy. When we
talk about objectively analyzing the economy financial data, I want

(04:06):
to do that objectively. I want to do that without
a political lens or political preference at play. And so
this is the hard part is people get frustrated when
I'm trying to call balls and strikes. They don't stay
a political narrative. I'm wanting to get frustrated. I think
everybody wants to be able to frame a narrative into
political outcome. You know, this is kind of game time

(04:27):
for these following the election closely. But all I can
do is just tell the truth.

Speaker 5 (04:31):
And I can give you.

Speaker 4 (04:33):
One hundred criticisms of Biden Harris economic policy. I can
give you one hundred criticisms of things they did that
invacerbate inflation. But when we see grocery prices are up
thirty percent and don't say that wages are up, we're
not really telling the whole story. Now, that has nothing
to do with politics. The inflation is not all their fault.

(04:53):
The wages going up as well, certainly not their credit.
But what you really look at in qualit city of life,
in either good quality or misery, is real wages, meaning
how much of wages gone up relative to prices. That
number is not good, but it isn't thirty percent worse.

(05:15):
It's gross. If certain prices are up, take groceries out
across the whole price level, it's about nineteen percent wages
or seventeen point eight. Okay, So there's been a decline
in standard of living, but it's a very slight one.
But we're not used to that happening. We have a
free market economy. We have liberty, we have rule of law,
we have education, we have population growth, we have all

(05:37):
these good things. We're not supposed to have. Our quality
of life go down, So it's negative. But I don't
believe that the well certain prices are thirty percent captures
the whole thing. And I don't think it's a particular
political story because it really comes down to the fact
that four years ago they shut down our economy and
nobody wants to talk about and there's.

Speaker 2 (06:00):
Not I was just going to say, stop right there,
there's a villain in all of them. First of all,
COVID was a virus. Viruses happened. You don't defeat them,
You get them, and depending on you know your age
or your your your physical proclivities, you know, you get
a virus and you die, or you get a virus
and you live. We learn to live. We absorb viruses,

(06:22):
We never really conquer them. This one was created to
be something far more. And when Fauci told Trump two
million are going to die by Easter, he spoke to
them and we did. So our reaction to COVID had
a lot more consequence in some ways long lasting consequence.
And we get into education, that whole generation that mister
graduation and missed a year and a half of school.

(06:45):
You never catch up in some ways. So but that's
the culprit in all this. The decisions that were made
during COVID, the notion that you can turn off the
economy like a light switch and then it'll turn right
back on. That you can send everybody homes, control of
every business, tell which ones can be open, and if
they are open, how they can run, and how we

(07:05):
can go to them and not and then pay people
a small portion to stay home, and then just dump
a bunch of money into the economy that wasn't earth.
It's going to have an impact and a consequence. Why
is COVID. I mean, we've done it a couple of times.
I do it all the time. Nobody ever discusses this

(07:25):
is a COVID crisis that we're dealing with economically here.

Speaker 4 (07:30):
Well, I think part of the reason is the political
polarization I talked about is when we have settled into
a system in our country that if something is good
in the economy, we associate it with a person who
is president. It's an economically imperial view of the presidency.
And Michael, it is so stupid. I can barely sug well.

Speaker 1 (07:54):
It's not our funding. Fathers didn't have it. It was
never it.

Speaker 2 (07:58):
Was never intended it's become I guess it's kind of like,
for the longest time, remember when nothing was right, nothing
was wrong, nothing really meant only the Supreme Court was
like the fact checker, you know, and then the Supreme
Court kind of became god for this moralist country. And
then our worship of the presidency. It's not only wrong,
it's absolutely exactly backwards of our intent in what our

(08:21):
founding fathers envisioned and laid out. And here we go again,
where you know COVID caused this. No one will bring
it up. I'll never forget during COVID at the very beginning.
This is what got me researching David. When everybody, whether
it was a Visa television commercial, whether it was your
CEO in an email, whether it was a news anchor,

(08:42):
whether it was the President at a news conference, everybody
had this mantra down, stay home, stay safe. This is
the new normal. And I'm like, new normal, this is
a virus. It's gonna come, it's gonna go, and we're
gonna get here heard immunity. So now I'll ask you
four years later, is this a new normal? We're gonna
gauge inflation up or down. By the last year and

(09:03):
ignore this new normal of thirty percent increases across the board.
Insurance is through the roof, so I have less of
my paycheck. It's not keeping up with the cost of living,
and we're already deaded out because that's how we've been
covering it for four years. If so, these politicians are
going to go on tours bragging about how they've fixed
everything that they broke, and it don't feel fixed.

Speaker 4 (09:25):
Well, see, it's not new, okay. Inflation never goes backwards ever,
so it's not a new normal. It's an old normal.
You are always going to gauge inflation by year over
year price movements, not where the ice cream cone was
when your grandpa was around, let's alone where groceries were
five years ago. And there's a bad thing about that

(09:49):
because it does give politicians immunity over time, and that's
not good. But it also is understandable human nature. When
someone gets used to a new wage, get used to
a new cost structure, then you're dealing with the what
have you done for me lately? You're dealing with the
newer realities, not still thinking about what you used to pay,

(10:10):
and so real wages are the error element that affect
people's quality of life. If prices don't go up a lot,
but they stay thirty percent time and they were five
years ago, and wages are declining, then people will be
mad as hell, but it won't be overpriced, so it'll
be over wages. And that's where these two things interact
together in a way that economists like me are looking at.

(10:31):
But they also interact in a way that people who
don't think about economics at all deal with because it's
just intuitive to real life. It affects your checking account.
You don't have to sit there and understand it all,
contemplate it. You know if you still have money in.

Speaker 1 (10:44):
The bank or not.

Speaker 4 (10:45):
And so for middle class families dealing with the reality
of wages and prices, the relationship between the two matters,
and the relationship between the two does constantly reset and reinteract.
And it's not going to be about the thirty percent
base level of.

Speaker 1 (11:00):
Four years ago.

Speaker 4 (11:01):
That's now done. And I would say, but look at Michael,
nobody has been complaining about where the real inflation has been. Okay,
right now, core goods are in deflation. Right now. You
have about half of the elements in the price level
that are lower than they were a year ago. And
yet over thirty years, not forty years, college education, home

(11:23):
prices at healthcare have flown through the roof. So at
the end of the day, if we want to have
an ongoing, perpetual, real substance of conversation about inflation, it's
time to realize that where government subsidizes things, you get inflation,
and where it doesn't and you have a basically sound currency,
then there is not going to be inflation above the

(11:46):
cost the movement of the economy. Okay, nobody complains about
inflation when they're selling their house at a higher price.
This is the problem that we're dealing with now, is
that the chicken has come home to roost.

Speaker 5 (11:59):
People.

Speaker 4 (12:00):
All these boomers that are so happy about inflation in
their house price now realize that their kids can't afford
to buy a home. And that is the element that
I want to focus the economic conversation on. Why healthcare
cost is skyrocketed, why housing prices is skyrocketed. You know
the fact that cereal prices are down and bread prices

(12:20):
are down, but egg prices are up, that eating at
home is up one percent year over year, but that
restaurants are up five percent year over year. Those things
all have different nuances. They're not one conversation. Minimum wage
laws are part of it. With restaurants, they're supplied demand
things with eggs versus milk. That stuff isn't going to

(12:41):
become politically interesting, but it should be interesting why college
and healthcare keep going higher.

Speaker 2 (12:47):
And I might add, just like with our debt thirty
five trillion in growing, it's a bipartisan creation. I'll remind
everybody it was Donald Trump that closed the economy. It
was Donald Trump that brought forth the vaccination. So both
parties have no right in making any claims of blame
or solution. All right, so that's great news. I'm about

(13:08):
to go on a diet. The only thing that's going
down is bread, and I can't eat bread.

Speaker 1 (13:11):
Great.

Speaker 2 (13:12):
What did you make of the tick up in unemployment?
Just real quick, we're down to our final minute.

Speaker 4 (13:18):
Did you mean from two weeks ago?

Speaker 1 (13:20):
Yeah? That it's yeah, I did.

Speaker 4 (13:22):
I thought that it's pretty obvious that employment is worsening
to some degree. It's not huge. There was a time
when we would have considered four point three percent unemployment
full employment, and yet when you were at three point
five from three point five to four point three is
a move worth noting, and I think that clearly that's
why the FED is going to begin cutting rates at

(13:45):
the September eighteenth meeting, is that they've waited too long
and now the labor market is catching up. So I
don't think it's solving out of bed, but the very
very extremely low unemployment that we've enjoyed is going away.
It's ticked higher, and the Fed now is playing behind
the eight ball once again.

Speaker 2 (14:03):
All Right, so you kind of answered the question without
me asking it. So while the inflation number isn't closer
to two, which kind of was going to signal rate cuts,
that unemployment ticking up might bring it up.

Speaker 4 (14:14):
So you expect, I want to say, the employment level,
the inplacement, is it too?

Speaker 5 (14:18):
Okay?

Speaker 4 (14:18):
The two point nine is just simply not true. Five
point four percent of inflation. It was the shelter because
they are looking at rent levels from a year ago.
Is a very complicated thing, but it is such a
huge error in how they measure thirty okay, ninety percent

(14:39):
of the inflation last month from shelter ninety percent, you
have the inflation in core goods. So I think that
the FED is smart to be looking at the PCE,
which is the personal consumption expenditures, not the CPI where
it's measured differently, that is showing at two point two
percent inflation, not two point nine. There's much the way

(15:03):
a way they want to be, but remember there's bags
in this, so they can't wait till it gets there.
They have to be ahead of the curve.

Speaker 2 (15:09):
How many cuts do you expect between now and the
end of the year and how deep in terms of
interest rate?

Speaker 4 (15:13):
Three so down by seventy five basis points, but the
market disagrees with me. The market is still anticipating for
getting a full one percent out of the Fed funds.
I suspect it'll end up being three. So you end
up with the Fed funds rate that is three quarters
of a percent lower than it is now.

Speaker 2 (15:31):
You see him on Fox Business all the time. I'm
just grateful we get to talk to him once a week.
David Bonson, thank you so much for time. He's got
a great book by the way, called Full Time. Go
Full Time Book dot com and get that, especially those
of you of faith out there listening. This book will
impact your life and purpose tremendously.

Speaker 1 (15:47):
Thank you, David you have a great week. We'll talk
against than.

Speaker 3 (15:51):
This is your Morning Show with Michael Detuono.

Speaker 2 (15:55):
Good morning, Welcome to Thursday, August the fifteenth, for broadcasting
live from one oh four nine to the Paige in
the Leu Saint Louis, Missouri, where I have been living
on the hill. I think I'm going to be filling
my car with bread, salami, projutto, and pasta, maybe even
abakawa and hitting the road. If you're just waking up,

(16:16):
we usually are talking about what getting you out to
the polls for Trump? Well, guess what Trump went to
the polls yesterday. Brian Shook as our Road to the
White House. Road to the White House twenty twenty four.
Former President Trump has cast his ballot ahead of next
week's primary election in Florida. Trump had long spoken out
against voting anyway but in person on election day, claiming

(16:39):
voter fraud, but his campaign is now promoting early voting
and vote by mail. Trump said his campaign is going well.

Speaker 1 (16:46):
We think we're doing very well. We just had a
poll that shows we're.

Speaker 2 (16:50):
Doing very well, and we have an interesting couple of
months ahead of us.

Speaker 6 (16:55):
More than thirty percent of Americans feel the economy is
the most important thing on the ticket, according to a
recent Gallup Pole. Vice President Harris will outline her plan
for the economy in his speech in Raleigh, North Carolina, Friday.
In Washington, I'm Brian Shook.

Speaker 2 (17:11):
Hi, I'm Michael, and your morning show is heard on
great radio stations across the country like one oh five,
nine twelve fifty w HNZ and Tampa, Florida, News Radio
five seventy WKBN and Youngstown, Ohio and News Radio one
thousand KTOK in Oklahoma City. Love to have you listen
to us live in the morning, and of course we're
so grateful you came for the podcast.

Speaker 1 (17:31):
Enjoy.

Speaker 2 (17:32):
A lot of people wanted Donald Trump to get back
on message. He did yesterday focusing on the economy. Kamala
Harris tomorrow will lay out her economic vision. Today she's
reunited with Joe to take a victory lap on the
economy that I'm guessing she's gonna distance herself and pivot
a little bit in her presidential campaign the following day.

(17:53):
It just gets trickier and trickier. And by the way,
Aaron Rayal is here. We have breaking news this hour
from the Dell. Is This the Del Jorna home. So
I have very expensive cats, Maine coons and chocolate exotics.

Speaker 1 (18:07):
And persians and Hamalayans.

Speaker 2 (18:10):
And then we went and got a rescue cat, well,
the girls did for their dorm and then I got
stuck with him. And the first thing I noticed when
this cat came to the house was it sat down
and started eating mashed potatoes and meat loaf and a
little bit of corn.

Speaker 1 (18:23):
And I was like, this is a dumpster cat.

Speaker 2 (18:25):
And this dumpster cat has gone on to just steal
everyone's heart in the home. She's but apparently dumpster pete
on the bed last night. So we've got breaking news
at the Del Jorno home.

Speaker 7 (18:36):
I love, Oh that's brutal. My cat has done it too.

Speaker 8 (18:39):
I actually have a like a barn cat, like a
good old barn cat, and he is he's scrappy, he can,
he's coming for you, and he is Pete in the
bed as well.

Speaker 2 (18:49):
Their places may have to get a dumpster diaper for
dumpster cat. No, the real break, the real breaking news
is the economic report. And you know, we just had
a long conversation with David Bonson about politically and it
doesn't it shouldn't be viewed politically. But politically it's interesting
because you're going to see the President and Vice president

(19:09):
together today talking about the economy heading in the right direction,
and then tomorrow she's going to lay out an economic
vision which pivots from from the Biden administration a little bit.
That's tricky politically. But the latest inflation numbers are out.
What does it mean for the economy, the possibility of
interest cut interest rate cuts, and the possibilities of recession.

(19:34):
You know this is your beat. What do you make
of all these numbers?

Speaker 8 (19:38):
Listen, they're good, They're going in the right direction. I
think we're going to see a taper on September seventeenth.
Seventeenth and eighteenth is when we're going to get the
next FOMC meeting. Obviously, Palace had this really dubvish tone
for quite some time now, like the past two meetings,
and the data is backing him up. We're below three percent.

Speaker 7 (19:54):
That was like this.

Speaker 8 (19:56):
There's not much of a difference between two point nine
percent three percent in terms of inflation, but there is
when it comes to the fact that two summers ago.
I'm shocked, actually, Michael, that this happened so quickly. Two
summers ago we had nine percent inflation. To be back
in line with wayre where we were roughly prior to
the pandemic is huge, huge, It's no short it's no

(20:16):
small task. You know, get credit to the Fed when
it's due. This seems like something incredible because I fundamentally
did not think we would get here without a recession,
and thus far, I'm not taking recession off the table.
I never would. Anything's possible. Processions can always come, but
we haven't had one. Yes, it's been expensive, people are
in trouble. It's not great, but it's not a recession.

(20:38):
And maybe we forget eight but those are really painful.

Speaker 2 (20:42):
And we just had this long conversation with David Bonson
because the truth of the matter is if you compare
it to COVID, yeah, you're you're down below three percent,
but that's a new normal of things being thirty percent more.

Speaker 4 (20:55):
You know.

Speaker 1 (20:55):
We talked about that how inflation works.

Speaker 2 (20:57):
It goes up, but it never goes back down, so
you just track it year to year and it gets
absorbed and then you just start rooting for wages to
go up, and the wages are not keeping up. But
he brought up something very interesting because I don't want
people to yell at the radio. I understand what you're saying.
We're not going to celebrate the inflation number because it's
still sixty dollars for a pot roast, and now dinner
at the restaurant's always one hundred and fifty instead of

(21:19):
what it used to be seventy. But that's because you're
never going to get back to COVID, the one part
when they used to say stay home, stay safe.

Speaker 1 (21:26):
This is the new normal.

Speaker 2 (21:28):
Well, the inflation part is the new normal, but it's
heading in the right direction. Yes, there's no question about Uban.

Speaker 8 (21:33):
Exactly, and it's mainly driven in the right direction. And
I never take the possibility for an implument for a
recession off the table, like anything can happen, So I think,
like just dismissing it would be silly. But if things
continue on the way they're going, we're we're in a
quote unquote good place. It's been a long time coming,
but we're kind of here.

Speaker 1 (21:52):
But do you, like.

Speaker 2 (21:53):
David, see the unemployment ticking up going, Okay, that's the
cue that fed waited too long.

Speaker 1 (21:58):
Now you're going to get these interest rate cuts.

Speaker 2 (22:00):
He doesn't think it's going to be a full point
by the end of the year, but he thinks it
might be three quarters by.

Speaker 1 (22:03):
The end of the year.

Speaker 6 (22:04):
Yes, I think that.

Speaker 8 (22:05):
Like the pace of the cuts is now the question,
like they're coming, so what's the pace and how much
are they going to how steep are they going to be?
But you're right, you know, hiring has slowed below its
pre pandemic baseline. Workers are quitting their new gig, they
aren't quitting their new gigs rather, and they're increasing their
unemployment applications of the unemployment benefits. These are all signs
like so the Fed has a dual mandate maximize employment

(22:26):
like full employment and also keep inflation at two percent.
So they're getting closer to one. But you know, at
the expense of the other. That's not a good thing.
That's not what they want and that's not what they're
trying to do. But let's make no mistake, it's not
like unemployment is crazy high right now. It's still pretty
good all things considered.

Speaker 2 (22:44):
Well, we definitely have a border crisis and it's unchanged.
We definitely have a housing crisis. It's unchanged. Inflation maybe
going in the right direction, but that housing crisis is
rearing its ugly head in this If you take shelter out,
the inflation rate is two pc. It's the apartments in
housing that is still killing it. We don't have a

(23:04):
solution for this housing crisis yet, but the interest rates
will be a part of that.

Speaker 8 (23:08):
There's so much building, and actually I was looking at
a story earlier today that says that rent in particuli
in a sun belt are beginning to come down just
a bit because there's like, there is so much building.
But this is the thing with building, it takes.

Speaker 1 (23:20):
A while to appear.

Speaker 4 (23:22):
You know.

Speaker 8 (23:22):
It's not like it takes like five to six years
they start building this stuff, but you're not going to
feel it for quite some time. And even with incredible
building and the boom in it, wow do we need it.

Speaker 2 (23:34):
But interest rates coming down will move people from their homes.
They can get a comparable home at a comparable interest
rate right now, you'll get a lot for your home,
but you're going to pay a lot for your new
one at a much higher That's what because that's a
big part of the inventory as well, And that would
start loosening lips to God's ears and no other external
things like war.

Speaker 1 (23:55):
Something.

Speaker 2 (23:56):
But I'll tell you politically, what's fascinating to me is
how Kamala Harris, as vice President the United States will
stand by President Biden as they take a victory lap
on these numbers.

Speaker 1 (24:04):
And then the very next.

Speaker 2 (24:05):
Day, Friday, she lays out an economic plan that distanced
herself from his policies.

Speaker 8 (24:11):
Yeah, I mean, it doesn't remotely surprise me. It doesn't
remotely surprise me. I think that she had no other
option but to distance herself from him.

Speaker 2 (24:21):
No, your morning Yeah, your morning show reporter Aaron Real,
who is celebrating this tattoo removal day by getting I
love your morning show tattoo today in Connecticut.

Speaker 1 (24:31):
I appreciate that.

Speaker 2 (24:31):
Thank you so much.

Speaker 8 (24:32):
Yes, this afternoon, one pm, I'm scheduled.

Speaker 2 (24:34):
Don't touch the scab for two days. Aaron will join
us again tomorrow. Have a great day, talk to you soon. Thanks.

Speaker 1 (24:39):
Forty two minutes after the hour, these are your.

Speaker 2 (24:42):
Top five stories off the day. First things first, and
it's a crazy day. So they're going to have these
cease fire talks today. But a Moss isn't at the table,
so where is that going? Oh, it gets even worse
as a lot lot of people believe Iran is waiting
to see how the peace talks go before they decide

(25:04):
to attack Israel.

Speaker 1 (25:06):
Good luck.

Speaker 2 (25:06):
It's like following the economic ball in America. The US officials, however,
remain on high alert for that potential Iranian attack on
Israelisa Tailor's here with the details.

Speaker 7 (25:16):
This comes as efforts to reach a ceasefire and Gaza
are intensifying, with formal negotiations said to take place Thursday.
There are reports Hamas will not be taking part in
the ceasefire talks, rap Sanchez reports from Tel Aviv.

Speaker 9 (25:28):
A diplomat briefed on these talks, says Katar, Each of
the United States will meet with Israel, and then those
two Arab states will go and meet with the Hamas
side separately at a date to be determined.

Speaker 7 (25:39):
The potential for an attack on Israel by Iran comes
after the country vowed to avenge the deaths of Hesbalah
and Hamas leaders.

Speaker 2 (25:45):
Finally, Sa Taylor, I can see you all fighting at
lunch yesterday.

Speaker 1 (25:48):
Donald Trump needs to get back. He just needs to
focus on the economy. The economy of the economy.

Speaker 2 (25:52):
The border, the border, the border, inflation, inflation, inflation needs
to get back on that. Noh, he's on messages. What
makes Donald Trump bray? Well, guess what he got back
on message? He laid out his economic plan two days
before Kamala Harris can chameleonize hers from Joe Biden. Tammy
Trijuilo has that story.

Speaker 10 (26:10):
During a rally in Nashville, North Carolina, trum set Hill
sign an executive order directing his cabinet to take action
to bring down inflation and consumer prices in the first
one hundred days of his presidency. He said he'd also
target energy and electricity prices.

Speaker 4 (26:23):
We intend to slash prices by half within twelve months,
at a maximum eighteen months.

Speaker 6 (26:29):
And if it doesn't work out, you say, oh, well,
I voted for him.

Speaker 10 (26:33):
The former president spent much of his speech focusing on
his political rival Kamala Harris, accusing her of decimating the
middle class with radical liberal policies. Trump's appearance comes as
Harris is set to unveil her economic policies in North
Carolina on Friday.

Speaker 2 (26:48):
I'm Tammy Trihello, don't forget Friday. With forty five and
twenty three hours and thirty minutes. The White House is
dismissing reports that Hunter Biden asked the US Embassy in
Italy for help to land a business deal while his
father was Vice President Brian Shook as More.

Speaker 6 (27:03):
Press Secretary Karin Joan Pierre told reporters on Wednesday, President
Biden was not involved.

Speaker 11 (27:09):
The President has never done business with his son and
he was not aware of this, and for anything further,
I would have to refer you to Hunter Biden's personal representatives.

Speaker 6 (27:20):
The New York Times reports Hunter, who sat on the
board of Ukrainian energy company Barisma, tried to enlist the
support of the US Ambassador to Italy in twenty sixteen
to arrange a business meeting for a potential energy deal.
I'm Brian Schuk. The famous pretzel shop Anti ANNs is
debuting its first ever.

Speaker 2 (27:43):
Perfume, inspired by the brand's signature a Roma.

Speaker 1 (27:47):
Natalie Migliori has more.

Speaker 12 (27:49):
The company launched the Fragrance Need at a pop up
in New York City earlier this week, giving fans early
access to the scent that is now available for purchase online.
Since the website doesn't have a scritch snip, visitors are
describing what it smells like.

Speaker 1 (28:03):
Delicious, just like a pretzel.

Speaker 7 (28:06):
It really does smell like when you're walking through a
mall and you pass the Anti Annes.

Speaker 12 (28:10):
So do people really feel the need to smell like
a pretzel?

Speaker 1 (28:13):
Maybe not for me.

Speaker 11 (28:14):
Hanging out with my friends going to a concert, I'll
definitely wear it.

Speaker 7 (28:20):
I can't wait to wear it out in the winter.

Speaker 1 (28:22):
I think it's going to be a really nice song.

Speaker 2 (28:23):
I'm Natalie mcgliori. How you sent News Radio New York.
Why do you still smell like a pot roast? Why
can't you be like Judy and smell anianes principle?

Speaker 1 (28:35):
Stop fighting me?

Speaker 4 (28:38):
Hi.

Speaker 10 (28:39):
My name is Bern Aaron and my morning show is
Your Morning Show with Michael.

Speaker 2 (28:45):
Del Giorno, broadcasting live from one oh four nine the
Patriot in Saint Louis, one of our proud Your Morning
Show affiliates, one of the greatest staffs in America, and
one of the most amazing cities. Still full from dinner
last night on the Hill broadcast live.

Speaker 1 (29:00):
Good morning.

Speaker 2 (29:01):
All right, So, Randy Wright said Michael di Atiheartmedia dot Com.
Do you really think that this race is that close?

Speaker 1 (29:09):
Look?

Speaker 2 (29:09):
I think there is a narrative wave in progress. This
has all been orchestrated in time. How many times Roy
o'neilis here. How many times did we have a presidential
debate in June before both conventions? You know, but it
all ourchestrated, got Joe out of the way, reintroduced commas
something completely. She went from being the only thing worse
than Joe Biden to the savior of the part. There's

(29:30):
a lot of energy within the Democrat Party. There might
be some use of illusionary trickery to make everything look
bigger than life and filled with joy. Axios did a
story today on how she's doing the news ads. So
when you Google, they pop up like it's a headline
in the New York Times, when in fact it's sponsored.

Speaker 1 (29:49):
But look, they're pulling it off. I think they've energized
their party.

Speaker 2 (29:52):
I think when you look at the map, it's still
about Michigan, Wisconsin and Pennsylvania, and things have tightened. No,
I don't when people ask me, I don't know. If
they do this to you, Rory, who's gonna win? Who's
gonna win? That's you know, it's kind of just right
what they want to get to. And I don't know,
you don't know, And yes it's close and time will tell.
And there's a lot of time to be lived.

Speaker 5 (30:13):
But you know, and is this are we still in
drunken after glow when it comes to these polling numbers.
You know, the Quinnipiac poll yesterday on Pennsylvania showed that
stayed three points up for Harris, still within the margin,
but significant because realistically a Democrat can't win the White
House without without it.

Speaker 2 (30:32):
So Trump still can win without it, but they can't.
That's a huge mission accomplished for them. And that's what
makes it a coin flip now actually without picking Shapiro. Yeah, well,
and you know, I was waiting to talk to you
about this because we've kicked around the VP choice and
you know, I kept coming back to Younkin, you can
deliver Virginia or somebody that can deliver something, and then

(30:52):
the choice was made. I'll go to my grave believing
Junior influences father in Devance. I think the President was
going to choose Marko Rubio, but you know then yeah,
so but anyway, you know, the whole Virginia could be
key because I think Arizona, Nevada are going to be
huge like we thought they would be in twenty sixteen.
They didn't matter in twenty sixteen after Michigan, Wisconsin, Pennsylvania, Georgia, Virginia.

(31:17):
It never got to that. It'll come to that. I
really think David Sanati believes this. It's going to come
down to Pennsylvania, so, you know, you start the.

Speaker 1 (31:24):
Interesting thing they're doing.

Speaker 5 (31:25):
Now.

Speaker 1 (31:26):
Politico had a big piece on it this morning, looking
all right, so what does the down ballot look like?

Speaker 7 (31:32):
Now?

Speaker 1 (31:32):
How does this shake down the House and the Senate?

Speaker 5 (31:35):
You know, it looked like the Republicans were on their
way to cruising to a Donald Trump victory, taking the
House and Senate with them, especially after all these deaths
we've seen in the House of recent weeks. I don't
know if you've seen the healthcare report from Congress, is
they need to.

Speaker 1 (31:49):
Set up a hospital wing over there. But it's it's
not good.

Speaker 5 (31:54):
And you know, we really could see a lot of
changes coming up, and the.

Speaker 1 (31:58):
Thought was, oh, are going to roll in November. But now, well, gee,
I don't know.

Speaker 2 (32:04):
You know what, there's a lot of people out there
and everybody's just America's become obsessed with the presidency. Ore
founding fathers weren't. That's not how the intent was designed.
But that's thanks to television. Thanks to cable television, thanks
to social media, twenty four hour news. I think this
is easier for us to This is the opposite of
what our founding fathers. We treat presidents like kings. The
powers in the People's House, the powers in the House

(32:26):
and the Senate and the legislative branch.

Speaker 1 (32:28):
And you know, when.

Speaker 2 (32:29):
I'm sitting at lunch with people and they're panicked over this,
you know one thing that didn't dawn on them when
it looked inevitable Trump you were going to have a
very surprising night in the House and Senate, because America
loves a check in balance. Careful creating this narrative with
Kamala Harris that she's got in the bag, because they
may be shocked at how the House and Senate goes

(32:51):
for them. That all has to be orchestrated very carefully,
if anybody looked. And then, of course the sixty four
thousand dollars question is, and then what if we go
into election like you know, not knowing which way it's
going to go, how does that play out down ticket? Well,
then the energized party wins, and we'll see who's energized. Then,
not a month ago when it was Trump. Not today

(33:11):
when it's Kamala. They're still going to have to do interviews,
still have to do debates. She does have a way
of well, both of them have a way of grabbing
defeat from the jaws of victory when it comes to them.

Speaker 1 (33:25):
What did you.

Speaker 2 (33:25):
Make of You know a lot of people, I don't
know how much of this is manufactured or real. I mean,
I'm at lunch of people and it sounds like it's real.
They want Donald Trump on message. Well, he got back
on message yesterday. It was all about the economy, did
he Well? I mean there were some sections that Donald Trump,
but I mean he led.

Speaker 5 (33:41):
I mean, I got tic TACs, Kamala's laugh and you know,
the typical migration stuff with a little thing here sprinkled in,
I know, real details.

Speaker 1 (33:50):
I thought it was better. I thought it was better,
especially the part about the economy.

Speaker 2 (33:53):
And then, of course, the real fun is going to
be today Joe reunited with Kamala taking a victory lap
over the economy, and then she'll turn around the next
day and distance herself from this administration.

Speaker 5 (34:03):
Pretty much, say Joe, who is this guy?

Speaker 8 (34:05):
You know?

Speaker 5 (34:05):
I mean, look, I want to it was more of
a wish list from Donald Trump yesterday than any real
plan like I'm gonna cut your electric right bill by
half or or you know, three quarters, Really, are you?
How's that going to work on it from a federal level. Yeah,
that's the sort of stuff from it. Well wait, bow
and then both sides. Both sides are guilty of that.

(34:28):
That's why it's a lot of wishful thinking.

Speaker 2 (34:30):
This has been the I don't know, and then what's
the next political season going to be? I mean, we
just get stranger and stranger and stranger, at least in
Stranger things, there's a break between these episodes.

Speaker 1 (34:42):
We're all in this together.

Speaker 3 (34:44):
This is your Morning Show with Michaelton, Hill, Joe and
No