President Trump floats tariff divided checks and 50-year mortgages, don’t miss our economist David Bahnsen’s head exploding live on the air as I ask whether it’s a good idea??
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Speaker 1 (00:00):
Hey, it's Michael.
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It is pronounced Awa tukey, but we listen to.
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We will never forget that. By the way, I got
this from the program director of KFYI, Aaron Trimmer.
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How to pronounce it Awa tuki and then he goes and.
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If you guys decided to come to Phoenix, might I
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August in Alatuki would be hard on my tuki. One
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And if you missed our interview with supermodel the Face
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(01:33):
the Sports Illustrated Swimsuit edition.
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You can always check out the podcast.
Speaker 6 (01:37):
You'll find that link on our website, your spell it out,
your morning show online dot com. Well, if you're just
waking up, the government shutdown is over. The President signed
the funding measure last night from the Oval Office surrounded
by Republicans, and the government will reopen now that all
eyes are on the travel. The worst of the travel
(01:58):
cancelations today, I can tell you researching it during the
break is Los Angeles, Denver, in Chicago again. They were
ramping up to ten percent cancelations at the forty busiest
airports or hubs. The FAA made the decision to freeze
it at six now that the government's opening, But when
will they get to zero and back to normal?
Speaker 1 (02:15):
Time will tell.
Speaker 6 (02:17):
This is gonna be fun because I don't think you've
ever listened to a radio program where one of the
analysts head explodes live on the air. Now, this could
get really messy. But my economist David Bonson is here
and we the two big things, because he took last
week off the two big stories while you were gone. David,
(02:38):
the president with a two thousand dollars tariff dividend means
tested to be given to people, and of course his biggest.
Speaker 1 (02:48):
Idea, which was the fifty year mortgage.
Speaker 6 (02:51):
And so I ask you, do you think of fifty
year mortgage is a good idea?
Speaker 1 (02:57):
There goes that explosion.
Speaker 6 (02:59):
I think I know the answer, but I'll ask you
the president floated it didn't get very good response.
Speaker 4 (03:04):
Let me surprise you at the first part that I think,
if there's somebody out there who wants to amortize their
mortgage over fifty years as a borrower, and there's another
lender out there who wants to lend them money over
fifty years, and the government isn't subsidizing it, I actually
impall for the existence of it in terms of the
(03:27):
free market economy facilitating a borrower and lender coming to
terms on their own. Do I think it's a wise
idea for the borrower, of course, not the bigger issue here.
The bigger issue here is why would the administration think
this is helpful to bring down the price of housing
(03:49):
to the extent this is not just being done to
create more choice in financial products. It's part of a
policy to address affordability.
Speaker 1 (03:59):
And it just it doesn't make my head explode.
Speaker 4 (04:01):
It just makes my head shake as to what happened
to the economic competence of those on the right.
Speaker 1 (04:11):
This is just so utterly silly. It's kind of sad.
Speaker 4 (04:15):
What you do is you essentially push prices higher because
it pushes the monthly payment lower, and that gets priced
into the sticker payment.
Speaker 1 (04:24):
Hey where did I get that from? Where have I
heard that from?
Speaker 4 (04:27):
Oh?
Speaker 1 (04:27):
I don't know when.
Speaker 4 (04:28):
Every one of us told Kamala Harris that when she
wanted to give people more down payment as government subsidy
and her campaign plank a year ago. But the other
issue to it as well is that the interest rate
on fifty year money is higher than thirty year money,
which is higher than twenty year and higher than ten
year money for obvious reasons. The longer the money is
(04:50):
supposed to be outstanding, the higher the rate, and so
all you're doing is getting a slightly lower monthly payment
at a higher cost. And it makes people feel that
they are getting a house cheaper because they have a
lower monthly payment. In reality, it's just free, free, free
money to the base. Yeah yeah, ibster by the people
(05:11):
trying to buy a house they can't.
Speaker 6 (05:12):
Really afford, can't really afford, all right, So we did
the numbers, like on a two hundred thousand dollars house
and or four hundred thous if you did if you
did a four hundred thousand dollars house, your payment is
only like three hundred and something dollars cheaper, but you're
paying almost eight hundred thousand dollars in interest over fifty
years for something that's four hundred thousand dollars.
Speaker 1 (05:32):
It was just it was done.
Speaker 6 (05:33):
Two hundred thousand was the easiest to look at it
because your payment was only one hundred and twenty dollars cheaper,
and you were paying double the interest over fifty years
for a two hundred thousand I mean, it's just so stupid,
Like you just said, in a very nice way, if
they want to do it, great, you can do it.
If you're if you think This is going to impact
the housing crisis as long as the government isn't subsidizing it,
(05:55):
and people want to do it foolishly, let them do it.
But I think, what do you but what do you
make of the portable mortgage? I think the president floated
the fifty year mortgage, realizes that's a dud. Now they're
talking about the portable mortgage. Now, this, to your point,
could address freeing up inventory and get things moving. And
what that would do is I'm sitting on a house
right now a two point nine percent interest.
Speaker 1 (06:16):
I could sell it.
Speaker 6 (06:17):
I could go buy another house I like, and I
can bring that two point nine percent interest with me.
One the fifty year mortgage, the banks are going to love.
I don't think people should love it.
Speaker 1 (06:28):
This one.
Speaker 6 (06:29):
I think people would love it. I don't think banks
are going to like it very much.
Speaker 1 (06:33):
Oh you know why bank tuging to mind.
Speaker 4 (06:35):
They're not going to do it is in the agreement.
Speaker 1 (06:41):
They have a contract with a borrower. And now Fidel
Castro is going to come in and tell them. I mean,
this is just insane.
Speaker 4 (06:50):
I just putting up with this that the government is
going to tell Bates do they have to rewrite their contracts,
and do you think that that is going to affect
the future cost of capital negatively or not when every
bank has to read. Now, you're making my head explode.
Speaker 7 (07:06):
I never thought it would be over portable.
Speaker 1 (07:08):
I thought it would be over the fifty years.
Speaker 4 (07:12):
Because the difference is I try to be very consistent.
At least with a fifty year it's just a person
freely doing something that is stupid. With this, you're talking
about the government mandating something totally outside of their jurisdiction.
And then the unforeseen consequences are that banks now have
a higher cost to capital. They had a contract that
(07:34):
told them, hey, there's a certain amount of mortgages people
are going to be paying above market, a certain people
below market, and they price all.
Speaker 1 (07:42):
Of that into their underwriting.
Speaker 4 (07:44):
Now the government comes in and says, hey, you have
to make a mortgage portable. So that totally completely turns
your business model upside down, and in some cases it's
going to take away all net interest margin for banks.
Now there's no way they can if there's no way
it's constitutional. Some of us still talk about when President
Obama crammed down terms on the bondholders general motors. Is
(08:10):
it is just a completely statist idea. Now, do I
think that there are banks that would like to do it,
like we're going to earn your business by letting you
make your prior mortgage portable, and we're going to do
it as a loss leader, because then we're going to
offer you different products and services and make some money
off of you in the future before it let the
banks go compete for that business. But the government trying
(08:33):
to mandate a policy of portability is literally more statist
than anything I saw President Obama threatened to do. Now,
I want to say something defensive President Trump here. He's
not the one saying this, And I want listeners to
know where this is coming from, because I do try
not to talk. I have all this inside knowledge on things,
even when sometimes I do have people inside the administration
(08:55):
that I'm talking to. This is Bill Pulti, the director
of the FA, the Federal Housing Finance Agency.
Speaker 1 (09:03):
This is a guy who's.
Speaker 4 (09:05):
Become the Pete Navarro of the administration on housing. He's
outside the Reagunite script, he's outside the conservative script. Secretary Bessett,
the Treasury Secretary, doesn't like him, and he's giving President
Trump bad advice and we all need to pray President
Trump ignores it.
Speaker 1 (09:21):
Have I told you lately that I love you?
Speaker 6 (09:23):
David bonson our economists a joint Do I dare bring
up the two thousand dollars tariff dividend?
Speaker 1 (09:30):
Means test that I might add, Yeah, well this one.
Speaker 4 (09:34):
Hopefully listeners on their own can say, Okay, Bonston isn't unhinged.
Speaker 1 (09:39):
He is in some Trump's arrangement syndrome.
Speaker 4 (09:42):
Guy, He's trying to help President Trump from himself.
Speaker 1 (09:45):
Here.
Speaker 4 (09:46):
You know what this is called if there were a
different president, if I just told you, hey, the president
on stage just came of the idea of giving a
bunch of taxpayers two thousand dollars.
Speaker 1 (09:56):
And or what if I died? Sean he used to
do this.
Speaker 4 (09:59):
When interview people back in the Iraq War, and he
would say, oh, the you know President Bush and said
that there's this about weapons best destruction, and the guests
would go see President Bush was a liar, And then
Hannity would say, oh no, actually that was Obama Senator,
That was Quinton News Senator, that was Madeline Albright who
said it, if I told you the president Biden said,
I just want to give everybody two thousand dollars of
(10:21):
other people's money and the government's borrowing it to do it.
Speaker 1 (10:25):
Everybody, you already know what you would say.
Speaker 4 (10:28):
Of course everybody would be against it, because then you're leaving.
Speaker 1 (10:31):
Out five minutes.
Speaker 6 (10:31):
Ago, and you're leaving out the means tested part. Since
one of Republicans for means testing, picking and choosing winners
and losers, and of course they would be against him.
But when it's one of theirs.
Speaker 1 (10:42):
The means testing part.
Speaker 4 (10:44):
Yeah, but President Bush and every excuse the President Trump
and everything he did with the COVID money to people,
it was all means testing.
Speaker 1 (10:50):
All means the incomes.
Speaker 4 (10:52):
But the reason why the means testing is important here
is it reveals the lie of it being a tariff dividend. Ah,
it is is just taking money from people who are
paying tariffs and giving it to people who aren't paying
the tariffs.
Speaker 1 (11:07):
Well that's what I got.
Speaker 6 (11:09):
I explained that two days ago, because this is a tariff,
is a tax, and who's an attack support, Well the
people buying and who buys more, somebody with wealth or
someone without. So the ones paying the most of the
new tax don't get the dividend. Everyone else who doesn't does.
I mean, it's just but you kind of.
Speaker 4 (11:26):
Answered crually textbook textbook wealth redistribution, and everybody knows it.
Speaker 1 (11:32):
Now.
Speaker 4 (11:33):
There's also concern that it artificially stimulates demand, which when
Biden did it, we called it inflation. There's also the
concern that it is just rank redistribution by government fiat.
But then that final piece is that it is a
saying something to the American people that is dishonest that
we're bringing in this extra money we now have from tariffs.
Speaker 1 (11:54):
You spent all that money and then some before you ever.
Speaker 4 (12:01):
Taxes on American businesses by three hundred and fifty bit
of powers. So this is not new, fresh extra money.
We are running one point eight trillion dollar deficits right now.
This isn't like you got a bonus and now you're
giving it out to people you don't have the money.
You're borrowing it for our grandkids to pay back. I
(12:22):
just cannot believe that we're even talking about Well you.
Speaker 6 (12:25):
Kind of you, but you kind of you kind of
alluded to what I was ultimately going to add all
this up and ask you, uh, where why are all
these bad ideas coming out of Trump?
Speaker 1 (12:34):
Where are they coming from?
Speaker 6 (12:35):
And I know you address the one, but there just
doesn't seem to be I mean, I don't know.
Speaker 4 (12:40):
I think I have the answer to that, and I
just want to be very honest to be why. I've
known this about present Trump since the first term because
some of my best friends in the world were his
major economic advisors. There is a great economic instinct in
President Trump that is natural, that is organic, that is real.
And then there is a not so great in and
(13:00):
on one shoulder, since this protectionist and what I call
populist instinct where he thinks, oh, everything bad is to
somebody who's ripping someone else off, and I need the
power of the government to go fix it. And that's
the bad that's sort of the bad devil on the shoulder.
Speaker 1 (13:15):
But then the good angel on the other shoulder is
he does.
Speaker 4 (13:18):
Naturally understand that deregulation, energy and dependence and tax cuts
are good things. So there's kind of a Reagan's shoulder,
and then there's a bit more of a Jacksonian populist,
you know, almost a big government Teddy Roosevelt shoulder. And
in the first administration, the good shoulder won more than
the bad shoulder.
Speaker 6 (13:37):
And I just don't I don't think that's it, and
the jury's out on this particular term.
Speaker 1 (13:41):
David Boonson.
Speaker 6 (13:42):
Obviously, the good news is the government is back open.
The bad news is as we head from thirty seven
to thirty eight trillion dollars in debt being reopened. What's
coming up on the dividend Cafe at Dividendcafe dot com
tomorrow really.
Speaker 4 (13:55):
Really big one, really important one on are we in
a bubble about a and what do we do about
the bubble?
Speaker 1 (14:02):
How's it going to affect me?
Speaker 4 (14:03):
Just digging deeper into this story of why there are
about ten companies spending hundreds of billions of dollars that
are really responsible for so much of what's happening in
the stock market, and because I'm so confident it's not
going to end well, I want investors to start thinking
about what it.
Speaker 1 (14:22):
Means for them. Well, that's a muster.
Speaker 6 (14:24):
Read tomorrow Dividendcafe dot com and we might want to
follow up and talk about that next week. So good
to have you back, David, God bless you my brother.
Thanks brother, you got it. Owning a home is amazing, Well,
until it isn't, we've all lived it. Right one minute,
You're sipping coffee. The next your ankle deep in water.
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(14:46):
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Go to homeserf dot com.
Speaker 3 (16:22):
This is your Morning Show with Michael del Chrono.
Speaker 6 (16:27):
You're gonna need the podcast if you want to hear
David Bonnson's head explode, or what david' and I is
going to say next? Or supermodel interview with the face
Carol Alt to the lobby on the podcast. Go to
your Morning Show online dot com and you'll find that link.
The government shutdown is over. The President reopened the government,
signing the funding bill last night. Authorities have identified the
fourteen victims in last week's up s plane crash in Louisville.
(16:50):
Speaker Mike Johnson says a bill compelling the Department of
Justice to release all of the Jeffrey Epstein case files
will receive a vote on the House floor next week.
And the us men officially killed the penny. The last
penny was minted yesterday. No more, no moss.
Speaker 1 (17:09):
Yo. Hi everybody, this is Dion the Wanderer.
Speaker 8 (17:12):
My morning show is your morning show with Michael dell Jornal.
Speaker 4 (17:23):
Hi.
Speaker 2 (17:23):
I'm Michael del Jorno, and your morning show can be
heard live as it's happening five to eight am Central
and six to nine Eastern on great stations like six
point twenty WJDX and Jackson, Mississippi, or Akron's News Talk
six forty WHLO and AKRON Ohio and News Radio five
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of your morning routine. But we're glad you're here now.
(17:45):
Enjoyed the podcast, Thanks for bringing us along with you.
I do have an update from Roy, who is a
deer hunting in the woods in Pennsylvania. Michael, just a spike,
I let them walk. I agree, Dear cute, but they're
awful tasty. So far, the deer are living as I believe.
For the love a Bucks in Pennsylvania.
Speaker 6 (18:03):
You can always email Michael did at iHeartMedia dot com
or use the talkbacks and boy, hey, we've had too
much fun today. I think we've officially had so much
fun that we are not going to allow Jeffrey or
Read to take a paycheck today.
Speaker 1 (18:15):
You can't do that.
Speaker 6 (18:16):
You can. You cannot have this much fun and actually
get paid for it. David is used to not getting paid,
but you too, will give up your paycheck today. All right?
The government shutdown is over now? How long before things
are back to normal? The American voters view of Mom
Donnie was very interesting, the end of the penny and
all of your talkbacks that were so hysterical. Don't forget
(18:39):
if you missed any of that in our Supermodel interview
with Carol Alt. You can catch it all on the podcast.
Just go to your morning show online dot com and
you'll find the link there.
Speaker 1 (18:47):
All right.
Speaker 6 (18:47):
I sent David to Zanatia's story. I thought it was
really fascinating, and it's the things that we are saying
and using the AI for what they did. Is they
looked at forty seven thousand conversations on chat GPT, and
(19:08):
as I was reading it, I came to the ultimate conclusion,
this is how we're using AI today, now brace yourself,
or how it's going to use you tomorrow. But David,
were you taken by the things that we're asking chat GPT?
Because I noticed there are things that people ask me
that they won't ask their pastor it was kind of
like that. It was surprising the level of intimacy and
(19:33):
the personableness of the things that was asking chat GPT,
like anything online is secretive and safe. But as this
story proves. But what what shocked you when you read it?
Speaker 5 (19:47):
Well, first off, you and I have a difference of
opinion on the way we approach AI, and it's I
think it's very healthy and it's very interesting. And you
have an introcureuriosity about AI because you're naturally a curious
person and I'm very curious as well.
Speaker 1 (20:06):
But because I was raised just a little before you,
where the realm of the World War two veterans and
the reality of Stalin and big government and totalitarianism and
gulags was much more real in upbringing, even in public schools.
I've got.
Speaker 5 (20:27):
Folksters a little bit older than you guys have got
still a retained sense of fear about this whole thing.
This is like a nineteen eighty four Great New World
George Orwell.
Speaker 1 (20:37):
Sort of thing.
Speaker 5 (20:38):
That's one thing, sort of distinctive difference. Also, I think
it's fascinating on what your morning show is. You something
about people giving with their paychecks. People may assume that
I'm a paid consultant with you on this show. No,
that's not all the case. In fact, you have many
people who volunteered to be a part of this program,
which is the spirit and the ethos of your morning show.
Speaker 1 (20:59):
These are people getting together doing radio together.
Speaker 5 (21:01):
And your listeners are participating in actually building.
Speaker 1 (21:05):
The this program.
Speaker 6 (21:06):
Can I say it a different way by the way
that you know, But out of everything in the podcast,
I would want people to go back to listen to
is our one because I opened the show with talking
about how to view life and how to make an impact.
Even when you think you're not making a difference, you are,
yes and the goal of this show, and I'd love
for everybody to hear that. I don't want to repeat
(21:27):
it all right here, but I will say another way
of saying it. What were we talking about now? I
just want blank, Well, we're going to get back to
chat GPT.
Speaker 5 (21:38):
We're talking about the ethos of the program and how
people the people that make up the show, and then you.
Speaker 1 (21:43):
No, I was going to say it this way. I
couldn't afford you. We'll get you, thank you.
Speaker 6 (21:47):
I'm having a brain fart today. The people that I
have on this show, you David Bonson. And David Bonson
I used to see him on Fox New Fox Business
all the time, and then he's also a theologian. So
I had done an interview. Yeah, I'd done an interview
with him on a book about what We're going to
do in Heaven and it was it was he was
(22:09):
fascinating and that's how I met him. I'm trying to think,
who else do we do? A Lieutenant Colonel James Carafano.
I couldn't afford these people. You them. But the other
side of it is, these are the most trusted voices
I have found. Why because there's so many voices out
there and so few worth listening to. And you and
(22:30):
I have been doing this now. I don't know how
many here. You haven't been paid for like a decade
and a half. It's really sad. But yes, none of
these people are paid. We're all here to serve you.
And I think today has really been a celebration of
you because day in and day out, you guys never
let me down. I mean, the funny talkbacks today on
the end of the penny, I mean, it was just spectacular.
Speaker 1 (22:51):
So it is. It is unique. But all right, so
I'm actel Boston.
Speaker 5 (22:54):
Oh okay, because I'm gpt because the article that is
a perfect contrast, because Monson's about to do a piece
that you and I have been covering for a while.
He's about to do a feature this weekend on watch
out for the AI.
Speaker 1 (23:08):
Bubble like we had with the dot com bubble exactly.
And what's the premise of that is that the premise
of that is.
Speaker 5 (23:14):
That AI is not yet real as an as a
part of your investment portfolio, let alone.
Speaker 1 (23:20):
And I'm not giving investment advice.
Speaker 5 (23:21):
I'm just telling you I wouldn't invest in it because
I remember the dot bombs, I remember the car crash,
I remember all of this stuff.
Speaker 1 (23:28):
And the facts of the matter is, you take a
look at this article, it's really fascinating. So you get.
First off, how on the world.
Speaker 5 (23:35):
Does the Washington Post get forty five thousand private communications
between a AI bot and an individual and suddenly they're
being completely reviewed by the Washington Post.
Speaker 1 (23:48):
These are privacy statements. They got them on a technicality.
Speaker 5 (23:52):
People didn't realize that they could actually be overheard, that
the way that they had set up their communication back
and forth enabled a file to curated with that data.
Speaker 1 (24:02):
And oh, interestingly enough, it just happened to follow in
the hands of the Washington Post. What a coincidence. I
met you. I don't know.
Speaker 6 (24:10):
I don't even know how long it was seventeen years ago,
something like that, fifteen years ago. And when I first
met you, that was the weirdest thing I thought about you.
I was like, I love this guy. I choose him
as a mentor. I know you hate that word a boy.
He's really paranoid. And of course fifteen years later, i'm
you now there is Listen. I don't care what you're no,
(24:33):
I don't care what you're texting to who. Nothing is
a secret. There is no such thing as privacy. Don't
say anything into it, and a text to your kids
you wouldn't say live on a national radio program. There
is no such thing. But here's a great example of that.
And what we found in these forty seven thousand ripped
off by the Washington Post chat GPT questions were people
(24:54):
asking very intimate.
Speaker 9 (24:55):
Things yeah intimate, yeah, yeah, only people asking in space
being overheard by an artificial device that then offers them
a commentary.
Speaker 5 (25:07):
The concept of developing a relationship by tricking ourselves into
thinking that that voice is real, or like Red and
I were talking about during the break we were talking
earlier about someone coming up with a fake video of themselves.
The ability of us to trick ourselves. We know it's
not real, but we act differently anyways. We're able to
(25:28):
trick ourselves. We're just not that bullet proof to being
self deceived. So all those ethical questions, in philosophical questions
about AI are challenging. But the bigger question is this,
nobody can still define what AI is. The best experts
in the industry they take this little tiny scrape of AI,
which is people talking to their box machines, and call
(25:49):
that AI, when in reality, you have large language models
that are basically attempting to reconstruct reality, takeover corporations and
run things independently by computers without human involvement.
Speaker 1 (26:00):
Oh, what could go wrong with it?
Speaker 5 (26:01):
And then they're trying to monetize it, telling you that
it is the biggest power source of revenue coming up
for the next twenty years, so you better invest.
Speaker 1 (26:09):
I don't know.
Speaker 5 (26:09):
Does anybody remember nineteen twenty nine? It's wild speculation. Yeah,
I just I mean, I can't wait to hear boons
because my head's blown up just thinking about it.
Speaker 6 (26:18):
I want to give you the other side of it.
This is and this is not a defense of what
you're saying. I love the way you said it. I
am a curious person and I'm not I don't When
I make my decision and judgment, it's final, but I
take some time. Like I'll give you an example in defense.
I just asked, while you were talking chat GPT.
Speaker 1 (26:40):
Here we go. This is my perfect point.
Speaker 6 (26:42):
But no, no, I'm gonna I'm gonna walk right into
his head. But but no, but don't miss my point
coming up I got from a biblic I asked, chat GPT.
All right, so I'm let's pretend I'm one of these
lonely people and I'm laying in bed and I'm scared,
and I'm bewildered, and I just asked, GPT, chat GPT.
Speaker 1 (27:01):
What's the meaning of life?
Speaker 6 (27:02):
Well, it could give me any number of answers, but
if I ask it from a bibl this is what
I typed. From a biblical standpoint, what's the meaning of life?
And its answer? From a biblical standpoint, the meaning of
life centers on knowing, loving, and glorifying God, and living
in a relationship with Him forever. We are created by
(27:23):
God and for God. Lists all the scripture. Our purpose
is to glorify God, bunch of scriptures. We're meant to
enjoy relationship with Him, bunch of scriptures. Sin distorts that purpose,
but Jesus restores it bunch of scriptures. Our ultimate destiny
is eternal life with Him, bunch of scriptures. In summary,
the meaning of life biblically is to glorify God and
(27:45):
to enjoy Him forever. I mean, you would have a
hard time arguing.
Speaker 5 (27:49):
Well, that's a scrape from the basic catechisms of.
Speaker 1 (27:52):
The Christian filt I get it. But here's my point.
Speaker 6 (27:56):
If you don't know how to ask and talk to
this thing, you could get a completely different answer, and
most wouldn't listen if you knew from if a biblical
standard or scripture you believe to be the living word
of God. For goodness sakes, I would hope you would
have cracked it by now before you ask chat GPT,
(28:17):
and you would have read it for yourself, and you
probably wouldn't be sitting there in an existential angst or
wondering what the purpose of life is.
Speaker 1 (28:25):
It's the people that.
Speaker 6 (28:26):
Don't know that, that don't know how to ask it
that way, that are going to get a completely different answer.
That's what makes it the wild wild West. But what
you were hitting on is also important. There's going to
be just like with the dot com, there's only going
to be one or two winners in this yep.
Speaker 1 (28:40):
And these are people that are trying.
Speaker 5 (28:41):
The people that are trying to be winners now are
people who missed out in the first wave of billionaires
being created out of Silicon Valley and they want the
second wave. They don't have all the dots connected. They
don't truly know where this whole thing's going. They don't
know what the potentiality and the breakups. This is wildly speculative,
wildly speculative of this.
Speaker 1 (28:59):
Day in the game and smart money is not going
to run that way.
Speaker 5 (29:03):
But again, this is the big guys at the top
and people who want to be like you know, Michael.
There's a website that exists that is a completely unheralded
story in this country is called can I Know God
dot Com? Can I Know God dot Com? I know
a bunch of people who over the last twenty years
have put together the answer to the question you just
asked chat sheet PT.
Speaker 1 (29:23):
And then we'd rather you go there.
Speaker 5 (29:25):
Well, but the thing is is that they spend it
with human and they have reached the world. They have
reached millions and millions of people in this conversation with
live humans, live experiences and honest human dialogue. So the
point is that it's the point is this. It's convenient,
it's even lazy, but it's not necessary. That's the point.
(29:50):
There's enough human intelligence out there that we couldn't exhaust
that why do we need.
Speaker 1 (29:55):
Artificial closing moments?
Speaker 6 (29:56):
With David Sadaudi, our senior contributor on this Washington Post
study of forty seven thousand asks to AI, I think
you nailed the most troubling thing. How did Washington Post
get a hold of forty seven thousand intimate things we've
asked AI.
Speaker 1 (30:10):
Well, that'll tell you a lot about ethics to publish it.
Speaker 6 (30:13):
Yeah, I mean, where's the privacy? But bottom line, I
looked at you and I said, this is how we're
using it. Imagine compare that to how they're going to
use us in the future. I thought that was the
most troubling along with the lack of privacy.
Speaker 1 (30:28):
What was your takeaway?
Speaker 5 (30:30):
Online blackmail has hardly even begun. That's the problem. And
when you can make up stuff about anybody and then
it's their burden to prove it, that's a problem.
Speaker 6 (30:39):
You could even create the AI video of them actually
saying it in their voice, even though they never actually
said it with their face. All right, David, great week,
see you on the golf course.
Speaker 3 (30:49):
It's your morning show with Michael del Choano.
Speaker 1 (30:53):
Good morning. Our long national nightmare is over. The government
shut down has ended.
Speaker 8 (30:58):
President Trump signed the funding measure, which was just passed
by the House Wednesday night. The you measure finally made
it out of the Senate on Monday after a handful
of Democrats joined Republicans who passed the spending bill, which
extends funding until January thirtieth.
Speaker 6 (31:11):
I'm Mark Neefiewd and yesterday we said goodbye to the penny.
Speaker 10 (31:15):
The Treasurer says Indy. The penny is going to save
the US fifty six million dollars, but at what cost?
We'll lose a penny for your thoughts. You won't be
able to give your two cents no good luck because
you won't find one on the ground. What will you
throw in a wishing well? And is it the end
of penny loafers? The government is not making more, but
you can still use the ones you have, most likely
(31:37):
in a jar in your kitchen. I'm Bree Tennis.
Speaker 6 (31:39):
Rory O'Neil, our national correspondent, is here.
Speaker 1 (31:41):
Rory, why can't you be more like brie.
Speaker 8 (31:46):
H.
Speaker 1 (31:46):
We don't have that kind of time. She's my favorite.
I think she's so clever.
Speaker 6 (31:51):
All right, government shutdown is over, but we're a long
way from normal. Yesterday we had nine hundred flight cancelations
and two thousand delay Today the FAA has announced that
they're going to freeze it at six percent. Of course,
when do we get back to normal, which is zero
percent won't be today. Already we're seeing extended I believe
(32:11):
it's five hundred delays, nine hundred and ninety two cancellations,
most of them La, Denver and Chicago.
Speaker 1 (32:19):
So I would think I would think.
Speaker 6 (32:20):
My guess is Snap being restored can be immediate. The
airport situation not so immediate.
Speaker 7 (32:27):
Well, it's going to depend on the airline because again
this relates to the forty busiest airports. The airlines have
different hubs at each of them. We heard from the
CEO at Delta this week saying he thinks that if
everything goes, you know, with great weather and some fast action,
they think they could be normal operations with Delta this weekend.
(32:49):
So yeah, I think it's going to depend on the
airline and the airport specifically about getting back to quote
unquote normal. Keeping in mind that we're entering the Thanksgiving
travel season when things are pretty abnormal.
Speaker 6 (33:00):
Yes, it's pretty tight for Thanksgiving, but completely normal for Christmas.
That's half then you're avoided anyway. Uh So what's it
all about, Alphie? What do you think? What do you
think the lesson of the shutdown is? What do you
think the American people are gonna surmise is the lesson
of the shutdown?
Speaker 7 (33:18):
I think it was what we heard from the very
beginning that nobody benefits from a shutdown. You know, hopefully
this does spur some conversation about the American healthcare system
that's all kinds of messed up. That the Affordable Care
acted everything but make it affordable, you know, but we
haven't seen really any detailed plans from either side, and
(33:38):
that there's just essentially most Americans are just fed up
with Congress.
Speaker 6 (33:43):
Yeah, and once again it was it was probably pressure
at the airport that that that that's what stopped the
long the previous longest shutdown, and that's what stopped this one,
the longest shutdown. I add the food stamp to that too. Yeah,
foodstamp was a lot of pressure. You know, there's a
great story today buried that I didn't have a chance
to get to. And it was the secret meeting that
(34:05):
was entitled the Secret Meeting that ended the shutdown, and
it was a small group of Democrats who bypassed their
leadership and slipped into the office of Senator Thoon and
they worked this out. You wonder if that, along with
the momentum of the elections two weeks ago, you know,
(34:25):
this whole showdown of socialism versus capitalism in the midterm.
I think that's going to be a little bit possibly
what this shutdown legacy is, although there's the.
Speaker 1 (34:35):
Potential for another shutdown before that.
Speaker 6 (34:37):
So this only funds things through, funds a lot of
things through the fiscal year, but for a lot of
it only funds until January thirtieth.
Speaker 1 (34:46):
Paul Rory, we could live this again soon.
Speaker 7 (34:49):
It's literally groundhog Day. Groundhog right, It's going to be
a groundhog Day shutdown likely if they can't reach some
sort of consensus. Which is the remarkable part, and I'm look,
I'm the firm believer, but that this was all orchestrated
with the right senators being given permission to get on
(35:10):
board in order to end this shutdown, with the Democrats
wanting it to be over to realizing that this was
hurting both sides, and that the right senators not up
for reelection or retiring are taking the heat for this.
Speaker 6 (35:24):
Great reporting, Rory, as always, we'll talk again tomorrow.
Speaker 3 (35:26):
We're all in this together. This is your Morning Show
with Michael Vindheld, journo
Hey, it's Michael.
Speaker 2 (00:00):
I'm so glad you found the podcast, and don't forget
you can listen to your Morning Show live each weekday morning.
Your Morning Show can be heard in great cities like Youngstown, Ohio, Nashville, Tennessee,
Saint Louis, Sacramento, Phoenix, just to name a few. You
can find the Your Morning Show city closest to you
on our website, Your Morningshow online dot com, and we're
glad you're here for the podcast.
Speaker 3 (00:21):
Enjoy starting your morning off right, a new way of talk,
a new way of understanding.
Speaker 1 (00:28):
Because we're in listen together.
Speaker 3 (00:31):
This is Your Morning Show with Michael Dell Chorman.
Speaker 1 (00:35):
Good morning, Michael. Karen from New River, Arizona. It's Awa
turkey and we'd love to see you here.
Speaker 3 (00:45):
This is Debbie from Apache Junction, Arizona.
Speaker 4 (00:48):
It is pronounced Awa tukey, but we listen to.
Speaker 5 (00:51):
You every day on our way to work, right before
the Conservative Circus train.
Speaker 6 (00:56):
Haaren Allo your show, Thank you, we love you, and awatuki.
We will never forget that. By the way, I got
this from the program director of KFYI, Aaron Trimmer.
Speaker 1 (01:07):
How to pronounce it Awa tuki and then he goes and.
Speaker 6 (01:10):
If you guys decided to come to Phoenix, might I
suggest you choose to come in August? The weather's perfect.
August in Alatuki would be hard on my tuki. One
week from today, Scott Jennings on the show with us.
And if you missed our interview with supermodel the Face
Carol Alt, She's a part of a new documentary on
(01:33):
the Sports Illustrated Swimsuit edition.
Speaker 1 (01:35):
You can always check out the podcast.
Speaker 6 (01:37):
You'll find that link on our website, your spell it out,
your morning show online dot com. Well, if you're just
waking up, the government shutdown is over. The President signed
the funding measure last night from the Oval Office surrounded
by Republicans, and the government will reopen now that all
eyes are on the travel. The worst of the travel
(01:58):
cancelations today, I can tell you researching it during the
break is Los Angeles, Denver, in Chicago again. They were
ramping up to ten percent cancelations at the forty busiest
airports or hubs. The FAA made the decision to freeze
it at six now that the government's opening, But when
will they get to zero and back to normal?
Speaker 1 (02:15):
Time will tell.
Speaker 6 (02:17):
This is gonna be fun because I don't think you've
ever listened to a radio program where one of the
analysts head explodes live on the air. Now, this could
get really messy. But my economist David Bonson is here
and we the two big things, because he took last
week off the two big stories while you were gone. David,
(02:38):
the president with a two thousand dollars tariff dividend means
tested to be given to people, and of course his biggest.
Speaker 1 (02:48):
Idea, which was the fifty year mortgage.
Speaker 6 (02:51):
And so I ask you, do you think of fifty
year mortgage is a good idea?
Speaker 1 (02:57):
There goes that explosion.
Speaker 6 (02:59):
I think I know the answer, but I'll ask you
the president floated it didn't get very good response.
Speaker 4 (03:04):
Let me surprise you at the first part that I think,
if there's somebody out there who wants to amortize their
mortgage over fifty years as a borrower, and there's another
lender out there who wants to lend them money over
fifty years, and the government isn't subsidizing it, I actually
impall for the existence of it in terms of the
(03:27):
free market economy facilitating a borrower and lender coming to
terms on their own. Do I think it's a wise
idea for the borrower, of course, not the bigger issue here.
The bigger issue here is why would the administration think
this is helpful to bring down the price of housing
(03:49):
to the extent this is not just being done to
create more choice in financial products. It's part of a
policy to address affordability.
Speaker 1 (03:59):
And it just it doesn't make my head explode.
Speaker 4 (04:01):
It just makes my head shake as to what happened
to the economic competence of those on the right.
Speaker 1 (04:11):
This is just so utterly silly. It's kind of sad.
Speaker 4 (04:15):
What you do is you essentially push prices higher because
it pushes the monthly payment lower, and that gets priced
into the sticker payment.
Speaker 1 (04:24):
Hey where did I get that from? Where have I
heard that from?
Speaker 4 (04:27):
Oh?
Speaker 1 (04:27):
I don't know when.
Speaker 4 (04:28):
Every one of us told Kamala Harris that when she
wanted to give people more down payment as government subsidy
and her campaign plank a year ago. But the other
issue to it as well is that the interest rate
on fifty year money is higher than thirty year money,
which is higher than twenty year and higher than ten
year money for obvious reasons. The longer the money is
(04:50):
supposed to be outstanding, the higher the rate, and so
all you're doing is getting a slightly lower monthly payment
at a higher cost. And it makes people feel that
they are getting a house cheaper because they have a
lower monthly payment. In reality, it's just free, free, free
money to the base. Yeah yeah, ibster by the people
(05:11):
trying to buy a house they can't.
Speaker 6 (05:12):
Really afford, can't really afford, all right, So we did
the numbers, like on a two hundred thousand dollars house
and or four hundred thous if you did if you
did a four hundred thousand dollars house, your payment is
only like three hundred and something dollars cheaper, but you're
paying almost eight hundred thousand dollars in interest over fifty
years for something that's four hundred thousand dollars.
Speaker 1 (05:32):
It was just it was done.
Speaker 6 (05:33):
Two hundred thousand was the easiest to look at it
because your payment was only one hundred and twenty dollars cheaper,
and you were paying double the interest over fifty years
for a two hundred thousand I mean, it's just so stupid,
Like you just said, in a very nice way, if
they want to do it, great, you can do it.
If you're if you think This is going to impact
the housing crisis as long as the government isn't subsidizing it,
(05:55):
and people want to do it foolishly, let them do it.
But I think, what do you but what do you
make of the portable mortgage? I think the president floated
the fifty year mortgage, realizes that's a dud. Now they're
talking about the portable mortgage. Now, this, to your point,
could address freeing up inventory and get things moving. And
what that would do is I'm sitting on a house
right now a two point nine percent interest.
Speaker 1 (06:16):
I could sell it.
Speaker 6 (06:17):
I could go buy another house I like, and I
can bring that two point nine percent interest with me.
One the fifty year mortgage, the banks are going to love.
I don't think people should love it.
Speaker 1 (06:28):
This one.
Speaker 6 (06:29):
I think people would love it. I don't think banks
are going to like it very much.
Speaker 1 (06:33):
Oh you know why bank tuging to mind.
Speaker 4 (06:35):
They're not going to do it is in the agreement.
Speaker 1 (06:41):
They have a contract with a borrower. And now Fidel
Castro is going to come in and tell them. I mean,
this is just insane.
Speaker 4 (06:50):
I just putting up with this that the government is
going to tell Bates do they have to rewrite their contracts,
and do you think that that is going to affect
the future cost of capital negatively or not when every
bank has to read. Now, you're making my head explode.
Speaker 7 (07:06):
I never thought it would be over portable.
Speaker 1 (07:08):
I thought it would be over the fifty years.
Speaker 4 (07:12):
Because the difference is I try to be very consistent.
At least with a fifty year it's just a person
freely doing something that is stupid. With this, you're talking
about the government mandating something totally outside of their jurisdiction.
And then the unforeseen consequences are that banks now have
a higher cost to capital. They had a contract that
(07:34):
told them, hey, there's a certain amount of mortgages people
are going to be paying above market, a certain people
below market, and they price all.
Speaker 1 (07:42):
Of that into their underwriting.
Speaker 4 (07:44):
Now the government comes in and says, hey, you have
to make a mortgage portable. So that totally completely turns
your business model upside down, and in some cases it's
going to take away all net interest margin for banks.
Now there's no way they can if there's no way
it's constitutional. Some of us still talk about when President
Obama crammed down terms on the bondholders general motors. Is
(08:10):
it is just a completely statist idea. Now, do I
think that there are banks that would like to do it,
like we're going to earn your business by letting you
make your prior mortgage portable, and we're going to do
it as a loss leader, because then we're going to
offer you different products and services and make some money
off of you in the future before it let the
banks go compete for that business. But the government trying
(08:33):
to mandate a policy of portability is literally more statist
than anything I saw President Obama threatened to do. Now,
I want to say something defensive President Trump here. He's
not the one saying this, And I want listeners to
know where this is coming from, because I do try
not to talk. I have all this inside knowledge on things,
even when sometimes I do have people inside the administration
(08:55):
that I'm talking to. This is Bill Pulti, the director
of the FA, the Federal Housing Finance Agency.
Speaker 1 (09:03):
This is a guy who's.
Speaker 4 (09:05):
Become the Pete Navarro of the administration on housing. He's
outside the Reagunite script, he's outside the conservative script. Secretary Bessett,
the Treasury Secretary, doesn't like him, and he's giving President
Trump bad advice and we all need to pray President
Trump ignores it.
Speaker 1 (09:21):
Have I told you lately that I love you?
Speaker 6 (09:23):
David bonson our economists a joint Do I dare bring
up the two thousand dollars tariff dividend?
Speaker 1 (09:30):
Means test that I might add, Yeah, well this one.
Speaker 4 (09:34):
Hopefully listeners on their own can say, Okay, Bonston isn't unhinged.
Speaker 1 (09:39):
He is in some Trump's arrangement syndrome.
Speaker 4 (09:42):
Guy, He's trying to help President Trump from himself.
Speaker 1 (09:45):
Here.
Speaker 4 (09:46):
You know what this is called if there were a
different president, if I just told you, hey, the president
on stage just came of the idea of giving a
bunch of taxpayers two thousand dollars.
Speaker 1 (09:56):
And or what if I died? Sean he used to
do this.
Speaker 4 (09:59):
When interview people back in the Iraq War, and he
would say, oh, the you know President Bush and said
that there's this about weapons best destruction, and the guests
would go see President Bush was a liar, And then
Hannity would say, oh no, actually that was Obama Senator,
That was Quinton News Senator, that was Madeline Albright who
said it, if I told you the president Biden said,
I just want to give everybody two thousand dollars of
(10:21):
other people's money and the government's borrowing it to do it.
Speaker 1 (10:25):
Everybody, you already know what you would say.
Speaker 4 (10:28):
Of course everybody would be against it, because then you're leaving.
Speaker 1 (10:31):
Out five minutes.
Speaker 6 (10:31):
Ago, and you're leaving out the means tested part. Since
one of Republicans for means testing, picking and choosing winners
and losers, and of course they would be against him.
But when it's one of theirs.
Speaker 1 (10:42):
The means testing part.
Speaker 4 (10:44):
Yeah, but President Bush and every excuse the President Trump
and everything he did with the COVID money to people,
it was all means testing.
Speaker 1 (10:50):
All means the incomes.
Speaker 4 (10:52):
But the reason why the means testing is important here
is it reveals the lie of it being a tariff dividend. Ah,
it is is just taking money from people who are
paying tariffs and giving it to people who aren't paying
the tariffs.
Speaker 1 (11:07):
Well that's what I got.
Speaker 6 (11:09):
I explained that two days ago, because this is a tariff,
is a tax, and who's an attack support, Well the
people buying and who buys more, somebody with wealth or
someone without. So the ones paying the most of the
new tax don't get the dividend. Everyone else who doesn't does.
I mean, it's just but you kind of.
Speaker 4 (11:26):
Answered crually textbook textbook wealth redistribution, and everybody knows it.
Speaker 1 (11:32):
Now.
Speaker 4 (11:33):
There's also concern that it artificially stimulates demand, which when
Biden did it, we called it inflation. There's also the
concern that it is just rank redistribution by government fiat.
But then that final piece is that it is a
saying something to the American people that is dishonest that
we're bringing in this extra money we now have from tariffs.
Speaker 1 (11:54):
You spent all that money and then some before you ever.
Speaker 4 (12:01):
Taxes on American businesses by three hundred and fifty bit
of powers. So this is not new, fresh extra money.
We are running one point eight trillion dollar deficits right now.
This isn't like you got a bonus and now you're
giving it out to people you don't have the money.
You're borrowing it for our grandkids to pay back. I
(12:22):
just cannot believe that we're even talking about Well you.
Speaker 6 (12:25):
Kind of you, but you kind of you kind of
alluded to what I was ultimately going to add all
this up and ask you, uh, where why are all
these bad ideas coming out of Trump?
Speaker 1 (12:34):
Where are they coming from?
Speaker 6 (12:35):
And I know you address the one, but there just
doesn't seem to be I mean, I don't know.
Speaker 4 (12:40):
I think I have the answer to that, and I
just want to be very honest to be why. I've
known this about present Trump since the first term because
some of my best friends in the world were his
major economic advisors. There is a great economic instinct in
President Trump that is natural, that is organic, that is real.
And then there is a not so great in and
(13:00):
on one shoulder, since this protectionist and what I call
populist instinct where he thinks, oh, everything bad is to
somebody who's ripping someone else off, and I need the
power of the government to go fix it. And that's
the bad that's sort of the bad devil on the shoulder.
Speaker 1 (13:15):
But then the good angel on the other shoulder is
he does.
Speaker 4 (13:18):
Naturally understand that deregulation, energy and dependence and tax cuts
are good things. So there's kind of a Reagan's shoulder,
and then there's a bit more of a Jacksonian populist,
you know, almost a big government Teddy Roosevelt shoulder. And
in the first administration, the good shoulder won more than
the bad shoulder.
Speaker 6 (13:37):
And I just don't I don't think that's it, and
the jury's out on this particular term.
Speaker 1 (13:41):
David Boonson.
Speaker 6 (13:42):
Obviously, the good news is the government is back open.
The bad news is as we head from thirty seven
to thirty eight trillion dollars in debt being reopened. What's
coming up on the dividend Cafe at Dividendcafe dot com
tomorrow really.
Speaker 4 (13:55):
Really big one, really important one on are we in
a bubble about a and what do we do about
the bubble?
Speaker 1 (14:02):
How's it going to affect me?
Speaker 4 (14:03):
Just digging deeper into this story of why there are
about ten companies spending hundreds of billions of dollars that
are really responsible for so much of what's happening in
the stock market, and because I'm so confident it's not
going to end well, I want investors to start thinking
about what it.
Speaker 1 (14:22):
Means for them. Well, that's a muster.
Speaker 6 (14:24):
Read tomorrow Dividendcafe dot com and we might want to
follow up and talk about that next week. So good
to have you back, David, God bless you my brother.
Thanks brother, you got it. Owning a home is amazing, Well,
until it isn't, we've all lived it. Right one minute,
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Speaker 3 (16:22):
This is your Morning Show with Michael del Chrono.
Speaker 6 (16:27):
You're gonna need the podcast if you want to hear
David Bonnson's head explode, or what david' and I is
going to say next? Or supermodel interview with the face
Carol Alt to the lobby on the podcast. Go to
your Morning Show online dot com and you'll find that link.
The government shutdown is over. The President reopened the government,
signing the funding bill last night. Authorities have identified the
fourteen victims in last week's up s plane crash in Louisville.
(16:50):
Speaker Mike Johnson says a bill compelling the Department of
Justice to release all of the Jeffrey Epstein case files
will receive a vote on the House floor next week.
And the us men officially killed the penny. The last
penny was minted yesterday. No more, no moss.
Speaker 1 (17:09):
Yo. Hi everybody, this is Dion the Wanderer.
Speaker 8 (17:12):
My morning show is your morning show with Michael dell Jornal.
Speaker 4 (17:23):
Hi.
Speaker 2 (17:23):
I'm Michael del Jorno, and your morning show can be
heard live as it's happening five to eight am Central
and six to nine Eastern on great stations like six
point twenty WJDX and Jackson, Mississippi, or Akron's News Talk
six forty WHLO and AKRON Ohio and News Radio five
seventy WDAK and Columbus, Georgia. Love to be a part
of your morning routine. But we're glad you're here now.
(17:45):
Enjoyed the podcast, Thanks for bringing us along with you.
I do have an update from Roy, who is a
deer hunting in the woods in Pennsylvania. Michael, just a spike,
I let them walk. I agree, Dear cute, but they're
awful tasty. So far, the deer are living as I believe.
For the love a Bucks in Pennsylvania.
Speaker 6 (18:03):
You can always email Michael did at iHeartMedia dot com
or use the talkbacks and boy, hey, we've had too
much fun today. I think we've officially had so much
fun that we are not going to allow Jeffrey or
Read to take a paycheck today.
Speaker 1 (18:15):
You can't do that.
Speaker 6 (18:16):
You can. You cannot have this much fun and actually
get paid for it. David is used to not getting paid,
but you too, will give up your paycheck today. All right?
The government shutdown is over now? How long before things
are back to normal? The American voters view of Mom
Donnie was very interesting, the end of the penny and
all of your talkbacks that were so hysterical. Don't forget
(18:39):
if you missed any of that in our Supermodel interview
with Carol Alt. You can catch it all on the podcast.
Just go to your morning show online dot com and
you'll find the link there.
Speaker 1 (18:47):
All right.
Speaker 6 (18:47):
I sent David to Zanatia's story. I thought it was
really fascinating, and it's the things that we are saying
and using the AI for what they did. Is they
looked at forty seven thousand conversations on chat GPT, and
(19:08):
as I was reading it, I came to the ultimate conclusion,
this is how we're using AI today, now brace yourself,
or how it's going to use you tomorrow. But David,
were you taken by the things that we're asking chat GPT?
Because I noticed there are things that people ask me
that they won't ask their pastor it was kind of
like that. It was surprising the level of intimacy and
(19:33):
the personableness of the things that was asking chat GPT,
like anything online is secretive and safe. But as this
story proves. But what what shocked you when you read it?
Speaker 5 (19:47):
Well, first off, you and I have a difference of
opinion on the way we approach AI, and it's I
think it's very healthy and it's very interesting. And you
have an introcureuriosity about AI because you're naturally a curious
person and I'm very curious as well.
Speaker 1 (20:06):
But because I was raised just a little before you,
where the realm of the World War two veterans and
the reality of Stalin and big government and totalitarianism and
gulags was much more real in upbringing, even in public schools.
I've got.
Speaker 5 (20:27):
Folksters a little bit older than you guys have got
still a retained sense of fear about this whole thing.
This is like a nineteen eighty four Great New World
George Orwell.
Speaker 1 (20:37):
Sort of thing.
Speaker 5 (20:38):
That's one thing, sort of distinctive difference. Also, I think
it's fascinating on what your morning show is. You something
about people giving with their paychecks. People may assume that
I'm a paid consultant with you on this show. No,
that's not all the case. In fact, you have many
people who volunteered to be a part of this program,
which is the spirit and the ethos of your morning show.
Speaker 1 (20:59):
These are people getting together doing radio together.
Speaker 5 (21:01):
And your listeners are participating in actually building.
Speaker 1 (21:05):
The this program.
Speaker 6 (21:06):
Can I say it a different way by the way
that you know, But out of everything in the podcast,
I would want people to go back to listen to
is our one because I opened the show with talking
about how to view life and how to make an impact.
Even when you think you're not making a difference, you are,
yes and the goal of this show, and I'd love
for everybody to hear that. I don't want to repeat
(21:27):
it all right here, but I will say another way
of saying it. What were we talking about now? I
just want blank, Well, we're going to get back to
chat GPT.
Speaker 5 (21:38):
We're talking about the ethos of the program and how
people the people that make up the show, and then you.
Speaker 1 (21:43):
No, I was going to say it this way. I
couldn't afford you. We'll get you, thank you.
Speaker 6 (21:47):
I'm having a brain fart today. The people that I
have on this show, you David Bonson. And David Bonson
I used to see him on Fox New Fox Business
all the time, and then he's also a theologian. So
I had done an interview. Yeah, I'd done an interview
with him on a book about what We're going to
do in Heaven and it was it was he was
(22:09):
fascinating and that's how I met him. I'm trying to think,
who else do we do? A Lieutenant Colonel James Carafano.
I couldn't afford these people. You them. But the other
side of it is, these are the most trusted voices
I have found. Why because there's so many voices out
there and so few worth listening to. And you and
(22:30):
I have been doing this now. I don't know how
many here. You haven't been paid for like a decade
and a half. It's really sad. But yes, none of
these people are paid. We're all here to serve you.
And I think today has really been a celebration of
you because day in and day out, you guys never
let me down. I mean, the funny talkbacks today on
the end of the penny, I mean, it was just spectacular.
Speaker 1 (22:51):
So it is. It is unique. But all right, so
I'm actel Boston.
Speaker 5 (22:54):
Oh okay, because I'm gpt because the article that is
a perfect contrast, because Monson's about to do a piece
that you and I have been covering for a while.
He's about to do a feature this weekend on watch
out for the AI.
Speaker 1 (23:08):
Bubble like we had with the dot com bubble exactly.
And what's the premise of that is that the premise
of that is.
Speaker 5 (23:14):
That AI is not yet real as an as a
part of your investment portfolio, let alone.
Speaker 1 (23:20):
And I'm not giving investment advice.
Speaker 5 (23:21):
I'm just telling you I wouldn't invest in it because
I remember the dot bombs, I remember the car crash,
I remember all of this stuff.
Speaker 1 (23:28):
And the facts of the matter is, you take a
look at this article, it's really fascinating. So you get.
First off, how on the world.
Speaker 5 (23:35):
Does the Washington Post get forty five thousand private communications
between a AI bot and an individual and suddenly they're
being completely reviewed by the Washington Post.
Speaker 1 (23:48):
These are privacy statements. They got them on a technicality.
Speaker 5 (23:52):
People didn't realize that they could actually be overheard, that
the way that they had set up their communication back
and forth enabled a file to curated with that data.
Speaker 1 (24:02):
And oh, interestingly enough, it just happened to follow in
the hands of the Washington Post. What a coincidence. I
met you. I don't know.
Speaker 6 (24:10):
I don't even know how long it was seventeen years ago,
something like that, fifteen years ago. And when I first
met you, that was the weirdest thing I thought about you.
I was like, I love this guy. I choose him
as a mentor. I know you hate that word a boy.
He's really paranoid. And of course fifteen years later, i'm
you now there is Listen. I don't care what you're no,
(24:33):
I don't care what you're texting to who. Nothing is
a secret. There is no such thing as privacy. Don't
say anything into it, and a text to your kids
you wouldn't say live on a national radio program. There
is no such thing. But here's a great example of that.
And what we found in these forty seven thousand ripped
off by the Washington Post chat GPT questions were people
(24:54):
asking very intimate.
Speaker 9 (24:55):
Things yeah intimate, yeah, yeah, only people asking in space
being overheard by an artificial device that then offers them
a commentary.
Speaker 5 (25:07):
The concept of developing a relationship by tricking ourselves into
thinking that that voice is real, or like Red and
I were talking about during the break we were talking
earlier about someone coming up with a fake video of themselves.
The ability of us to trick ourselves. We know it's
not real, but we act differently anyways. We're able to
(25:28):
trick ourselves. We're just not that bullet proof to being
self deceived. So all those ethical questions, in philosophical questions
about AI are challenging. But the bigger question is this,
nobody can still define what AI is. The best experts
in the industry they take this little tiny scrape of AI,
which is people talking to their box machines, and call
(25:49):
that AI, when in reality, you have large language models
that are basically attempting to reconstruct reality, takeover corporations and
run things independently by computers without human involvement.
Speaker 1 (26:00):
Oh, what could go wrong with it?
Speaker 5 (26:01):
And then they're trying to monetize it, telling you that
it is the biggest power source of revenue coming up
for the next twenty years, so you better invest.
Speaker 1 (26:09):
I don't know.
Speaker 5 (26:09):
Does anybody remember nineteen twenty nine? It's wild speculation. Yeah,
I just I mean, I can't wait to hear boons
because my head's blown up just thinking about it.
Speaker 6 (26:18):
I want to give you the other side of it.
This is and this is not a defense of what
you're saying. I love the way you said it. I
am a curious person and I'm not I don't When
I make my decision and judgment, it's final, but I
take some time. Like I'll give you an example in defense.
I just asked, while you were talking chat GPT.
Speaker 1 (26:40):
Here we go. This is my perfect point.
Speaker 6 (26:42):
But no, no, I'm gonna I'm gonna walk right into
his head. But but no, but don't miss my point
coming up I got from a biblic I asked, chat GPT.
All right, so I'm let's pretend I'm one of these
lonely people and I'm laying in bed and I'm scared,
and I'm bewildered, and I just asked, GPT, chat GPT.
Speaker 1 (27:01):
What's the meaning of life?
Speaker 6 (27:02):
Well, it could give me any number of answers, but
if I ask it from a bibl this is what
I typed. From a biblical standpoint, what's the meaning of life?
And its answer? From a biblical standpoint, the meaning of
life centers on knowing, loving, and glorifying God, and living
in a relationship with Him forever. We are created by
(27:23):
God and for God. Lists all the scripture. Our purpose
is to glorify God, bunch of scriptures. We're meant to
enjoy relationship with Him, bunch of scriptures. Sin distorts that purpose,
but Jesus restores it bunch of scriptures. Our ultimate destiny
is eternal life with Him, bunch of scriptures. In summary,
the meaning of life biblically is to glorify God and
(27:45):
to enjoy Him forever. I mean, you would have a
hard time arguing.
Speaker 5 (27:49):
Well, that's a scrape from the basic catechisms of.
Speaker 1 (27:52):
The Christian filt I get it. But here's my point.
Speaker 6 (27:56):
If you don't know how to ask and talk to
this thing, you could get a completely different answer, and
most wouldn't listen if you knew from if a biblical
standard or scripture you believe to be the living word
of God. For goodness sakes, I would hope you would
have cracked it by now before you ask chat GPT,
(28:17):
and you would have read it for yourself, and you
probably wouldn't be sitting there in an existential angst or
wondering what the purpose of life is.
Speaker 1 (28:25):
It's the people that.
Speaker 6 (28:26):
Don't know that, that don't know how to ask it
that way, that are going to get a completely different answer.
That's what makes it the wild wild West. But what
you were hitting on is also important. There's going to
be just like with the dot com, there's only going
to be one or two winners in this yep.
Speaker 1 (28:40):
And these are people that are trying.
Speaker 5 (28:41):
The people that are trying to be winners now are
people who missed out in the first wave of billionaires
being created out of Silicon Valley and they want the
second wave. They don't have all the dots connected. They
don't truly know where this whole thing's going. They don't
know what the potentiality and the breakups. This is wildly speculative,
wildly speculative of this.
Speaker 1 (28:59):
Day in the game and smart money is not going
to run that way.
Speaker 5 (29:03):
But again, this is the big guys at the top
and people who want to be like you know, Michael.
There's a website that exists that is a completely unheralded
story in this country is called can I Know God
dot Com? Can I Know God dot Com? I know
a bunch of people who over the last twenty years
have put together the answer to the question you just
asked chat sheet PT.
Speaker 1 (29:23):
And then we'd rather you go there.
Speaker 5 (29:25):
Well, but the thing is is that they spend it
with human and they have reached the world. They have
reached millions and millions of people in this conversation with
live humans, live experiences and honest human dialogue. So the
point is that it's the point is this. It's convenient,
it's even lazy, but it's not necessary. That's the point.
(29:50):
There's enough human intelligence out there that we couldn't exhaust
that why do we need.
Speaker 1 (29:55):
Artificial closing moments?
Speaker 6 (29:56):
With David Sadaudi, our senior contributor on this Washington Post
study of forty seven thousand asks to AI, I think
you nailed the most troubling thing. How did Washington Post
get a hold of forty seven thousand intimate things we've
asked AI.
Speaker 1 (30:10):
Well, that'll tell you a lot about ethics to publish it.
Speaker 6 (30:13):
Yeah, I mean, where's the privacy? But bottom line, I
looked at you and I said, this is how we're
using it. Imagine compare that to how they're going to
use us in the future. I thought that was the
most troubling along with the lack of privacy.
Speaker 1 (30:28):
What was your takeaway?
Speaker 5 (30:30):
Online blackmail has hardly even begun. That's the problem. And
when you can make up stuff about anybody and then
it's their burden to prove it, that's a problem.
Speaker 6 (30:39):
You could even create the AI video of them actually
saying it in their voice, even though they never actually
said it with their face. All right, David, great week,
see you on the golf course.
Speaker 3 (30:49):
It's your morning show with Michael del Choano.
Speaker 1 (30:53):
Good morning. Our long national nightmare is over. The government
shut down has ended.
Speaker 8 (30:58):
President Trump signed the funding measure, which was just passed
by the House Wednesday night. The you measure finally made
it out of the Senate on Monday after a handful
of Democrats joined Republicans who passed the spending bill, which
extends funding until January thirtieth.
Speaker 6 (31:11):
I'm Mark Neefiewd and yesterday we said goodbye to the penny.
Speaker 10 (31:15):
The Treasurer says Indy. The penny is going to save
the US fifty six million dollars, but at what cost?
We'll lose a penny for your thoughts. You won't be
able to give your two cents no good luck because
you won't find one on the ground. What will you
throw in a wishing well? And is it the end
of penny loafers? The government is not making more, but
you can still use the ones you have, most likely
(31:37):
in a jar in your kitchen. I'm Bree Tennis.
Speaker 6 (31:39):
Rory O'Neil, our national correspondent, is here.
Speaker 1 (31:41):
Rory, why can't you be more like brie.
Speaker 8 (31:46):
H.
Speaker 1 (31:46):
We don't have that kind of time. She's my favorite.
I think she's so clever.
Speaker 6 (31:51):
All right, government shutdown is over, but we're a long
way from normal. Yesterday we had nine hundred flight cancelations
and two thousand delay Today the FAA has announced that
they're going to freeze it at six percent. Of course,
when do we get back to normal, which is zero
percent won't be today. Already we're seeing extended I believe
(32:11):
it's five hundred delays, nine hundred and ninety two cancellations,
most of them La, Denver and Chicago.
Speaker 1 (32:19):
So I would think I would think.
Speaker 6 (32:20):
My guess is Snap being restored can be immediate. The
airport situation not so immediate.
Speaker 7 (32:27):
Well, it's going to depend on the airline because again
this relates to the forty busiest airports. The airlines have
different hubs at each of them. We heard from the
CEO at Delta this week saying he thinks that if
everything goes, you know, with great weather and some fast action,
they think they could be normal operations with Delta this weekend.
(32:49):
So yeah, I think it's going to depend on the
airline and the airport specifically about getting back to quote
unquote normal. Keeping in mind that we're entering the Thanksgiving
travel season when things are pretty abnormal.
Speaker 6 (33:00):
Yes, it's pretty tight for Thanksgiving, but completely normal for Christmas.
That's half then you're avoided anyway. Uh So what's it
all about, Alphie? What do you think? What do you
think the lesson of the shutdown is? What do you
think the American people are gonna surmise is the lesson
of the shutdown?
Speaker 7 (33:18):
I think it was what we heard from the very
beginning that nobody benefits from a shutdown. You know, hopefully
this does spur some conversation about the American healthcare system
that's all kinds of messed up. That the Affordable Care
acted everything but make it affordable, you know, but we
haven't seen really any detailed plans from either side, and
(33:38):
that there's just essentially most Americans are just fed up
with Congress.
Speaker 6 (33:43):
Yeah, and once again it was it was probably pressure
at the airport that that that that's what stopped the
long the previous longest shutdown, and that's what stopped this one,
the longest shutdown. I add the food stamp to that too. Yeah,
foodstamp was a lot of pressure. You know, there's a
great story today buried that I didn't have a chance
to get to. And it was the secret meeting that
(34:05):
was entitled the Secret Meeting that ended the shutdown, and
it was a small group of Democrats who bypassed their
leadership and slipped into the office of Senator Thoon and
they worked this out. You wonder if that, along with
the momentum of the elections two weeks ago, you know,
(34:25):
this whole showdown of socialism versus capitalism in the midterm.
I think that's going to be a little bit possibly
what this shutdown legacy is, although there's the.
Speaker 1 (34:35):
Potential for another shutdown before that.
Speaker 6 (34:37):
So this only funds things through, funds a lot of
things through the fiscal year, but for a lot of
it only funds until January thirtieth.
Speaker 1 (34:46):
Paul Rory, we could live this again soon.
Speaker 7 (34:49):
It's literally groundhog Day. Groundhog right, It's going to be
a groundhog Day shutdown likely if they can't reach some
sort of consensus. Which is the remarkable part, and I'm look,
I'm the firm believer, but that this was all orchestrated
with the right senators being given permission to get on
(35:10):
board in order to end this shutdown, with the Democrats
wanting it to be over to realizing that this was
hurting both sides, and that the right senators not up
for reelection or retiring are taking the heat for this.
Speaker 6 (35:24):
Great reporting, Rory, as always, we'll talk again tomorrow.
Speaker 3 (35:26):
We're all in this together. This is your Morning Show
with Michael Vindheld, journo
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