February 6, 2025 • 24 mins
Host of ‘How to Money’ Joel Larsgaard joins the show to discuss Trump’s economic impact, restaurants raising prices, and Robinhood no longer offering Super Bowl betting. Biden promised, but failed, to end federal use of private prisons. And that has left the industry ready to cash in big under Trump. Host of ‘Later with Mo Kelly’ on KFI joins the show to speak on Alec Baldwin’s new reality show.
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Episode Transcript
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Speaker 1 (00:00):
You're listen Saints KFI AM six forty the bill Handles
show on demand on the iHeartRadio f KFI AM six
forty bill Handle.
Speaker 2 (00:09):
Here.
Speaker 1 (00:10):
It is a Thursday morning, February the six. Some of
the big stories we are looking at. The fun one
is President Trump yesterday saying that the United States should
go into Gaza and kick out or ask politely that
all the Palestinians leave into Jordan and Egypt while the
(00:33):
rebuilding is going on, and then they can come back.
It'll be a world resort. And Egypt and Jordan and
the rest of the world went Berzerik.
Speaker 3 (00:41):
I'll tell you who really liked the idea. Net To Yahu.
Speaker 1 (00:44):
He's in the Oval office where he was and as
Trump was saying that, I don't think he expected Trump
to say that, he was frothing at the mouth and
he had to quickly sit down because he was sporting
the biggest direction you've ever seen. He was so excited, brilliant,
brilliant asking the Palace Indians to leave Gaza. Now it
is Thursday, it is the eight o'clock hour, and we
(01:06):
have as a regular, not even as a guest, Joel Larsguard,
host of How to Money every Sunday twelve pm to
two pm. He are on KFI. His social address is
at how to Money, Joel.
Speaker 3 (01:20):
Morning, Joel Morning Bill.
Speaker 1 (01:22):
Okay, here's a story, and we're getting both positive and
negative as a result of these fires. We're getting some
real heroes out there that are just helping people, giving
their homes, restaurants giving out money to people who were impacted.
Speaker 3 (01:39):
And everybody needs a new home.
Speaker 1 (01:41):
Yeah, who, And stories of price gouging where these cockroaches
are taking advantage of these poor families.
Speaker 3 (01:50):
Let's talk a little bit about that and what's going on.
Speaker 4 (01:53):
Oh man, So, price gouging is a people have an
emotional reaction to it, and understandably so, right, and when
certain supplies are limited, it is it is beautiful and
wonderful that nonprofits come in and that generous people come
in and help relieve that stress and bring in water
where it's needed, bring in supplies that are needed to rebuild.
(02:17):
But then there's the other end of the spectrum too,
where if you put caps on certain things, on certain prices,
the free market doesn't work and supply and demand doesn't
take effect in the way that it needs to in
order to bring the relief that is necessary. And so
there is like, for instance, example of this at work
at play in the governor having limited and have instituted
(02:38):
price caps on how much people could ask for certain
rental properties. And what was happening was because those price caps,
not enough homes were going on the market to satisfy
the need. And there's just not enough homes to satisfy
the need anyway, let's be honest with how many homes
were destroyed in the fires. But if you instant those
price caps, so he just lifted those price came so
(03:00):
that it will bring more supply into the market to
help bring some relief. Yeah, to higher price point, but
at least there will be more supply out there for
people to choose from.
Speaker 3 (03:08):
Yeah, it's tough.
Speaker 1 (03:09):
I mean we're looking at when we talk about long
term whenever there's a natural disaster like not like this,
because this one is an outlier, you know, the long
term effects, rents go up, the everything has to be
re well, you know, they have to reconstruct that those
entire neighborhoods. Yeah, and the issues with insurance, I talk
(03:32):
about how public adjusters have to get involved in dealing
with the insurance companies that there's going to be scandal
after scandal.
Speaker 3 (03:39):
You know, I think it's.
Speaker 1 (03:40):
A little early to tell, But is there any idea
out there what the financial impact is going to be,
not only in terms of the homes, but the jobs
and the debris and the replacement of businesses.
Speaker 3 (03:54):
Do we have any idea at this point what the
financial hit? Gosh?
Speaker 4 (03:57):
I mean, the estimates I've seen are significant. I mean,
we are talking about tens of billions of dollars and
even and more than that. That's just an insured losses.
So we're talking about you know, just rebuilding efforts in
general are going to be incredibly expensive and it's going
to take a long time, right and even some of
the some of the imposed measures about how you can
(04:19):
rebuild in some of the places impacted, like the Palisades,
and how like, you can't build a bigger home than
you had on the on the lot. It has to
it has to be very similar to the home that
currently existed. This could create some some building issues too,
and and and then there are the thoughts of like, well,
how fire proof do these homes need to be to
(04:41):
kind of moving forward? And I'm wondering, you know what
sort of how the insurance companies are going to deal
with that, how the government's going to deal with that.
But the rebuilding effort is going to take a long time.
And I think the first things that the government needs
to prioritize are like schools and grocery stores, some of
those community centers, because you can build your home back,
but if there's no community to move back to, and
there aren't those other places where you tend to see
(05:03):
your neighbors or where you can send your kids off
during the day so they can get an education, it's
going to be hard to see those neighborhoods come back.
Speaker 3 (05:10):
Do you have limitations?
Speaker 1 (05:11):
I want the insurance companies will pay and homes in
the Palisades five six million dollars is not unusual, and
you have a three million dollar limit on insurance policies.
And then here's an interesting one that I didn't even know. Polo,
the contractor who is a remodeled my house. I was
talking to him and he has a couple of clients
(05:34):
in the Palisades that he start rebuilding their homes. He said,
you have two choices in terms of removal of the debris.
You can remove the debris yourself and that's money. Or
you can wait for the corp of Engineers to come
in and remove the debrie for free.
Speaker 3 (05:50):
Here's the problem.
Speaker 1 (05:51):
When they do it, they take out the foundation and
now you have an empty lot. And if you under
if you were grandfathered for a five foot uh set back,
it's now eight feet, you've got to go eight feet.
Speaker 3 (06:04):
If the foundation is.
Speaker 1 (06:05):
Still there, you can read, then you're back to five feet.
That's just one of the myriad of issues that are
going on. It's gonna be crazy. We're gonna be talking
about this for a long long time. Yeah, on this one. Yeah,
it's gonna be heres. It's gonna be heres. It's so
long covered nationally. I mean, the story has gone away, right,
no one talks about it. Everybody's talking about what's going
(06:26):
on with Trump, and everybody's talking about what's going on
with the storm. And we're just starting starting to come
to grips with this. All right, we have to talk
eggs now, Joel, because eggs are as important as anything
going on now, egg prices going up in the end.
Speaker 3 (06:44):
Really, how important is this is it?
Speaker 1 (06:46):
Because everybody eats eggs, and God forbid, you don't eat eggs.
I mean, it's not as important as smoke macke roll,
which everybody lives on.
Speaker 3 (06:54):
You know that, don't you. I mean, that is that's
an issue.
Speaker 4 (06:57):
I mean, if your caviar prices go up, Bill, you're
playing me more upset than the egg prices.
Speaker 1 (07:02):
So let me ask, how important is it or is
that just a market inflation? Is that just where it's going,
society is going, the prices are going.
Speaker 3 (07:10):
Explain the influence here.
Speaker 4 (07:11):
I think like six months ago, I would have said
the price of eggs going up kind of akin to
prices at the pump, where yeah it sucks if it
goes up by fifty cents a gallon twenty five cents
a gallon, and yes it does make an impact on
people's lives. But I would say that it's those bigger
things that we spend money on, Like we see those
lowest common denominator things, and when those move up in price,
(07:33):
there's like an emotional response, right, even though there are
more significant things that we can take care of when
it comes to our budget and it's like, oh, how
about well, I don't know, the brand new truck that
I bought, that's actually you know, hitting me much harder
in the pocketbook than the increased price of gases. But man,
these the way egg prices have gone in recent weeks
and where they're likely heading, and just to see some
(07:55):
of the things like that restaurants are doing to, you know,
cover the increased cost of eggs. Waffle House, of all places,
instituting a fifty cent per egg surcharge. It makes sense,
like how else can they get by. They've got to
raise the menu prices because eggs have gone up in
price so significantly. They're restaurants who were saying, I'm trying
(08:16):
to we're trying to like eliminate eggs from some of
their dishes or just serve fewer egg egg centric dishes
because they're so darn expensive they're harder to get. There
was even, I don't know if you saw this bill
a story in Pennsylvania where somebody stole one hundred thousand eggs, Yeah,
dollars worth of eggs.
Speaker 3 (08:32):
Yeah, incredible steel eggs.
Speaker 1 (08:35):
Before now former cartel smugglers who realized they were making
more money stealing eggs and bringing fentanyl across the border.
Speaker 3 (08:43):
Yeah, that's who.
Speaker 4 (08:45):
We were talking at dinner last night my family about
that story. And then literally last night put my daughter
to bed. She comes walking down the stairs and she
was like, Dad, is someone going to come in our
house and steal eggs out of our fridge? And that's
I mean, obviously little anxiety going on there. But I
was like, no, baby, nobody's gonna comes.
Speaker 3 (09:00):
Steal our eggs.
Speaker 4 (09:01):
But it's crazy town with where egg prices are at
and where they're likely to go, and it is the
lowest common denominator thing. We all feel the pain on that.
But and eggs are still relatively cheap source of protein.
But my goodness, it's getting hard to stomach the price.
Speaker 3 (09:15):
And very well said, hardest to make the price. I
like that.
Speaker 1 (09:20):
Let me ask this, when beef prices are really expensive,
almost out of control, which happens you go to chicken
or you go to pork. When egg prices are the
way there are, how do you substitute eggs? Because I
can't think of it's either eggs or no eggs, that
is the question.
Speaker 3 (09:38):
I think you're right. I think that's it.
Speaker 4 (09:40):
And that's the other problem because there are so many
other things in our life where there is an alternative,
And even with gas prices, it's like, oh, I can
try to drive less right, there are certain things I
can combine some trips, and there's a way to at
least reduce how much how many miles I'm driving.
Speaker 3 (09:56):
When it comes to eggs, it's literally eggs or.
Speaker 4 (09:58):
No eggs, and so so some people might say their
egg substitutes. I just don't know of any that come
to mind that are similar enough. And so you can
either have to stomach it or not. And so maybe
you can reduce your egg intake, but it's not like
you can substitute it for something it's kind of similar,
maybe not as satisfying, and go back to it when
the prices come down, and hopefully the prices will come down.
(10:21):
But the yeah, the bird flu and the cooling of
so many chickens is kind of what's what's led us here.
And I do think then that people see that riding
on the wall and the higher prices, and then maybe
they stock up, which leads to even higher prices. So
it's just kind of like the spiral gets worse and worse.
Speaker 1 (10:37):
Yeah, and we're being told by the FEDS as bad
as a situation is now, be prepared for a twenty
percent increase in the price of eggs over the next year.
I mean, it's kind of insane. I've been to I
live at Costco. That's my therapy, you know. It's just
it's not as cheap as my therapist, because I always
spend at least two hundred dollars when I walk in
(10:58):
the door of Costco. But I noticed you go to
where they have the eggs and they're stacked up to
the ceiling, usually those big sixty cartons of eggs that
are the Costco cells, there were none, yeah, I mean
zero eggs, And you go, wow.
Speaker 3 (11:16):
That is really unusual.
Speaker 4 (11:19):
It's freaky because it's one of those things that you
just expect to be there, like milk or whatever. And yeah,
you might be out of avocados, might be out of
season or something like that, or raspberries, but you just
expect to be able to find milk and eggs every
time you go into the grocery store. And yeah, some
places they're picked over. There's just not many left, and
if they are left, they're incredibly expensive.
Speaker 1 (11:39):
So are the price of eggs one of the basic
proponents And trying or the basic numbers and trying to
figure out what inflation is, it doesn't really add to
the inflation or take away from the inflation numbers.
Speaker 4 (11:52):
I mean no, I mean because you're looking at overall
grocery basket of goods right when you're trying to figure
out inflation numbers, and that is just one company of them,
and we are seeing reduced inflation on other items. They
either reduced prices, actual prices going down on some items
at the grocery store, or just a much much smaller
increases on the price of some items at the grocery store.
(12:14):
Eggs are just kind of the exception to that rule
right now. So we have seen I think prices moderating
at the grocery store. But again, eggs top of mind,
and they're so freaking expensive right now, that just it's
hitting everybody and in the emotional spot. But I don't
think that the price of eggs is significantly impacting your
overall grocery budget for the most part, even though it sucks.
Speaker 3 (12:38):
All right, Joel, thank you. We'll catch you this Sunday
twelve to two pm. You have a good one. All right,
sounds good. Thanks Bill. All right, now let's talk about
we're in a whole new world. But we're not in
a whole new world. One of the.
Speaker 1 (12:54):
Sort of sidebar stories about picking up immigrants and in
general putting.
Speaker 3 (12:59):
People into prison is the cost.
Speaker 1 (13:05):
We have more people in prison than we have prisons.
So a couple of choices happened with a state or
even the FEDS. The state, we have to build more prisons.
You know how expensive that is the cost of a
prison guard.
Speaker 3 (13:20):
It's a good job.
Speaker 1 (13:21):
By the way, the prison guard union is one of
the strongest in California. Are really good jobs, a lot
of money. So prisons were outsourced private prisons. It was cheaper,
they made money, and the problem there wasn't as much
oversight and there wasn't as much control, so allegations of
wrongdoing and abuse and sexual abuse went crazy. So what
(13:42):
Biden promised to do was to stop using private prisons
because they were being used, particularly for immigration. I mean,
where do the detainees go as they're picked up? They
have to go someplace and there aren't federal prisons. They
need detention center, they have to be built. How do
you man them, Well, you go to private prisons. And
(14:06):
so Biden tried.
Speaker 3 (14:08):
To stop it.
Speaker 1 (14:09):
He couldn't because one of the things about the presidency,
and this is not so much Donald Trump, one of
the first things when a president is asked, what is
the most surprising thing about being president, and the answer
inevitably is how little power I have caught up in
this MESSI of bureaucracy. Bureaucracy that is almost impossible to change.
(14:35):
It's like trying to move an aircraft carrier. It's heavy,
it's big, it takes a long time turning. An aircraft
carrier is miles before you can make a turn.
Speaker 3 (14:47):
That's the federal bureaucracy.
Speaker 1 (14:49):
Trump has proven that one wrong that he is changing
it very very quickly. And one of the things he's
doing is going balls to the wall and bringing back prisons,
private prisons, particularly for ICE, and today because of ICE
(15:10):
ICE detainees, the FEDS have more people in private prison
than when Biden took office. It was going down. He
couldn't stop it, but it was going down. And now
it's about to explode. Why because the president is going
balls to the walls. That I said in terms of
arresting people, going to deport people, it says it's not
(15:33):
as if an ICE or border patrol agent picks up
someone who is illegal and then they drive to the airport,
throw them on an airplane and they're back in Guatemala,
or they drive right to the border and let them
off the bus. No, they have to be detained. And
we're talking about thousands and thousands. So the only way
to do it at this point is private prisons. And
(15:56):
by the way, if you're building a prison, try to
do a governmental building versus the private industry.
Speaker 3 (16:05):
It's a fraction of the time, fraction of the cost.
Speaker 1 (16:08):
And so now, since the president has no problem and
in fact is in favor of private prisons, let me
tell you what's going on. Shareholders in a few companies
like Geogroup, core Civic, who own and are expanding private prisons, Well,
let me give you an idea of if you had
(16:31):
invested under Trump. Between election day in November and the
inauxuration day on January twentieth, Geogroup was his largest company
in the country that runs private prison in Geogroups shares
and we're talking about three months, rose one hundred and
thirty three percent, more than doubled. Even the smaller one
(16:53):
core Civic went up sixty percent. And we're seeing the
concept of private prisons explode. And as you can think
and you would, and it makes sense, private prison companies
rise and decline depending on the administration. Republican administrations love them,
(17:14):
Democrats do not. In twenty sixteen, Obama order the Department
of Justice to phase out and end private prisons because
an Inspector General report said they're more violent.
Speaker 3 (17:27):
And public facilities. Trump rescinded that order in his first term.
Speaker 1 (17:32):
Biden gets into office, brings back that order where for example,
the FBI, the Federal Bureau of Prisons is to stop
contracting with private prisons, and now it's coming back with
executive orders. One of the things about executive orders that
are signed and what you're seeing every day is President
Trump signing executive orders, and I mean stacks of him
(17:55):
where he's changing everything, some of which is questionable whether
they're legal or not. But most president does have the
power to issue those executive orders. Well, what he's doing
is issuing new ones or undoing Biden ones, Biden undoing
Trump ones when Biden came into office. And this really
(18:15):
is a yo yo. You have Obama who issued executive orders.
Trump comes in undoes those executive orders. Biden comes in
undoes those. Trump comes in undoes those. Mo Kelly, who
is host of Later with mo Kelly, every Monday through
(18:39):
Friday seven to ten pm.
Speaker 2 (18:40):
He's at mister Mokelly. Good morning Mo, Good morning Bill. Okay,
talk to you.
Speaker 3 (18:45):
Yeah, it's always a pleasure, particularly for you. Now.
Speaker 1 (18:49):
A couple of things. We watched the Osbourne's I have
their reality show. I didn't know that they were before
the Kardashians, but I guess they were. Of course, living
with the Kardashians exploded the reality show and we've had
so many of the Duggans.
Speaker 3 (19:02):
And all of that. Alec Baldwin has come up with
a new reality show.
Speaker 1 (19:07):
He would be the last person you would think that
would have a reality show.
Speaker 2 (19:11):
You would think, And in fact, if you look at
the Baldwin's coverage of this new series, which is going
to drop on TLC on February twenty third, every single
story that I saw made direct reference to the rush
shooting and the killing of Helena Hutchins. So you would
think that they would try to run from this, but no,
TLC is leaning into this. There's a trailer out and
(19:34):
it's about Baldwyn, his wife. There's seven kids and six animals,
and they're trying to portray Alec Baldwin. It's just an
everyday dad who has to deal with all the struggles
of being the father YadA YadA, YadA, blah blah blah.
But at the same time you wonder how it will
be received.
Speaker 3 (19:49):
Yeah, that's crazy, I understand.
Speaker 1 (19:50):
The very first segment, it opens up with one of
the camera people stepping over the dead body of a
camera person who was shot in the house.
Speaker 3 (19:59):
Do I have that right now?
Speaker 1 (20:00):
Oh?
Speaker 3 (20:01):
I don't know if that's correct. Let me go back
and look at the trailer.
Speaker 1 (20:04):
Hey, so you know I was talking to Anne about
this and I'm thinking, what, oh, sorry about my copy stand.
Speaker 3 (20:10):
Where's the motivation here?
Speaker 1 (20:12):
Is it for somehow to bring him back into the
public view as a regular decent guy and him straight
ahead attacking the issue and getting out of the way.
Speaker 3 (20:24):
Is it a money call?
Speaker 1 (20:26):
Does he live large and he hasn't worked the last
couple of years. What do you think the motivation is here?
Speaker 2 (20:32):
I think the answer is yes to all of those things.
If you're Alec Baldwin, I'm quite sure that the checks
are fewer and fewer as he gets older and older.
In fact of the trailer, they kind of make fun
of the fact that he doesn't look like what he
used to In nineteen eighty nine, and if you perceive
him as some homicidal rage monster, yeah, this was probably
to help undo that and make him more palatable for
(20:52):
any number of people or potential acting jobs.
Speaker 3 (20:56):
How old is How old are his kids? Do you
have to know?
Speaker 2 (20:59):
The run the gamut from like three to fourteen? I
think all at home and we had a view of
his house.
Speaker 3 (21:06):
I mean, I don't know.
Speaker 1 (21:07):
I know you've just seen the trailers and you did.
Don't have him into his house for dinner. I'm assuming
does he live large? Are we looking at someone who
you know, has an extraordinarily big home and fly to
vacations on private jets and that sort of thing.
Speaker 3 (21:21):
I don't know if he lives that large.
Speaker 2 (21:23):
But at the same time, if you have that many kids,
and I'm not trying to denigrate him for having a
big family, that's expensive in and of itself. So we
may not think of him as living large as Hollywood
actors star actors would, but he probably has a lot
of expenses. And you'd have to wonder how many television
(21:44):
show opportunities are there for Alec Balwood. Yes, he was
doing Esdale those bit appearances as Donald Trump years ago,
but you don't see a lot of him.
Speaker 1 (21:53):
You know, he's a very likable guy the way he
comes off and comedian, what's serious actor?
Speaker 3 (22:02):
If you remember, was it Glen Garry Glenn Ross.
Speaker 1 (22:06):
He was tremendous in that and that was a straight off,
major serious drama. So do you think this is going
to help his career, help him his reputation or not?
Speaker 2 (22:18):
Put it this way, there were no there was probably
nobody knocking on his door prior to this series. And
if this may open the door for him to do
other things, and yes, it might be just a temporary
bridge from here to there where he can make some
money in a short time, or could turn it into something
like the Kardashians or the Osbornes. We know that history
has demonstrated that this could be a pathway to a
(22:39):
whole new set of fans.
Speaker 1 (22:41):
All right, MO, thank you tonight seven to ten pm
right here on KFI. You have a good one mo
Bye bye, all right, take care. All right, A couple
of things. First of all, I'm taking phone calls for
a handle on the law off the air, and I'm
doing that just as soon as I lock out and
say goodbye to you. Then eight seven seven five to
(23:01):
zero eleven fifty, and as I always tell you, I
go through them very quickly. There'll be no breaks, no commercials,
no news, no weather, no patients on my side. So
we zip through those eight seven seven five two zero
eleven fifty. Gary and Shannon are coming up and they're
looking into Elon Musk's teenage engineers who now have access
(23:22):
to every bit of your information. Kind of sy scary
stuff that's coming round just the moment on the Gary
and Shannon Show.
Speaker 3 (23:30):
We're done, guys, that's it.
Speaker 1 (23:32):
Tomorrow morning, Amy starts at five am, Neil and I
are here from six to nine, and of course we've
got Ann Cono, Matt will God, we're adding up Michelle
who just walked in the door, who was the executive
pro is was our producer for twenty five years and
so she couldn't take it anymore. We'll see you tomorrow, everybody.
(23:54):
KFI am sixty.
Speaker 3 (23:57):
You've been listening to The Bill Handle Show.
Speaker 1 (23:59):
Catch I Show Monday through Friday six am to nine am,
and anytime on demand on the iHeartRadio app.
You're listen Saints KFI AM six forty the bill Handles
show on demand on the iHeartRadio f KFI AM six
forty bill Handle.
Speaker 2 (00:09):
Here.
Speaker 1 (00:10):
It is a Thursday morning, February the six. Some of
the big stories we are looking at. The fun one
is President Trump yesterday saying that the United States should
go into Gaza and kick out or ask politely that
all the Palestinians leave into Jordan and Egypt while the
(00:33):
rebuilding is going on, and then they can come back.
It'll be a world resort. And Egypt and Jordan and
the rest of the world went Berzerik.
Speaker 3 (00:41):
I'll tell you who really liked the idea. Net To Yahu.
Speaker 1 (00:44):
He's in the Oval office where he was and as
Trump was saying that, I don't think he expected Trump
to say that, he was frothing at the mouth and
he had to quickly sit down because he was sporting
the biggest direction you've ever seen. He was so excited, brilliant,
brilliant asking the Palace Indians to leave Gaza. Now it
is Thursday, it is the eight o'clock hour, and we
(01:06):
have as a regular, not even as a guest, Joel Larsguard,
host of How to Money every Sunday twelve pm to
two pm. He are on KFI. His social address is
at how to Money, Joel.
Speaker 3 (01:20):
Morning, Joel Morning Bill.
Speaker 1 (01:22):
Okay, here's a story, and we're getting both positive and
negative as a result of these fires. We're getting some
real heroes out there that are just helping people, giving
their homes, restaurants giving out money to people who were impacted.
Speaker 3 (01:39):
And everybody needs a new home.
Speaker 1 (01:41):
Yeah, who, And stories of price gouging where these cockroaches
are taking advantage of these poor families.
Speaker 3 (01:50):
Let's talk a little bit about that and what's going on.
Speaker 4 (01:53):
Oh man, So, price gouging is a people have an
emotional reaction to it, and understandably so, right, and when
certain supplies are limited, it is it is beautiful and
wonderful that nonprofits come in and that generous people come
in and help relieve that stress and bring in water
where it's needed, bring in supplies that are needed to rebuild.
(02:17):
But then there's the other end of the spectrum too,
where if you put caps on certain things, on certain prices,
the free market doesn't work and supply and demand doesn't
take effect in the way that it needs to in
order to bring the relief that is necessary. And so
there is like, for instance, example of this at work
at play in the governor having limited and have instituted
(02:38):
price caps on how much people could ask for certain
rental properties. And what was happening was because those price caps,
not enough homes were going on the market to satisfy
the need. And there's just not enough homes to satisfy
the need anyway, let's be honest with how many homes
were destroyed in the fires. But if you instant those
price caps, so he just lifted those price came so
(03:00):
that it will bring more supply into the market to
help bring some relief. Yeah, to higher price point, but
at least there will be more supply out there for
people to choose from.
Speaker 3 (03:08):
Yeah, it's tough.
Speaker 1 (03:09):
I mean we're looking at when we talk about long
term whenever there's a natural disaster like not like this,
because this one is an outlier, you know, the long
term effects, rents go up, the everything has to be
re well, you know, they have to reconstruct that those
entire neighborhoods. Yeah, and the issues with insurance, I talk
(03:32):
about how public adjusters have to get involved in dealing
with the insurance companies that there's going to be scandal
after scandal.
Speaker 3 (03:39):
You know, I think it's.
Speaker 1 (03:40):
A little early to tell, But is there any idea
out there what the financial impact is going to be,
not only in terms of the homes, but the jobs
and the debris and the replacement of businesses.
Speaker 3 (03:54):
Do we have any idea at this point what the
financial hit? Gosh?
Speaker 4 (03:57):
I mean, the estimates I've seen are significant. I mean,
we are talking about tens of billions of dollars and
even and more than that. That's just an insured losses.
So we're talking about you know, just rebuilding efforts in
general are going to be incredibly expensive and it's going
to take a long time, right and even some of
the some of the imposed measures about how you can
(04:19):
rebuild in some of the places impacted, like the Palisades,
and how like, you can't build a bigger home than
you had on the on the lot. It has to
it has to be very similar to the home that
currently existed. This could create some some building issues too,
and and and then there are the thoughts of like, well,
how fire proof do these homes need to be to
(04:41):
kind of moving forward? And I'm wondering, you know what
sort of how the insurance companies are going to deal
with that, how the government's going to deal with that.
But the rebuilding effort is going to take a long time.
And I think the first things that the government needs
to prioritize are like schools and grocery stores, some of
those community centers, because you can build your home back,
but if there's no community to move back to, and
there aren't those other places where you tend to see
(05:03):
your neighbors or where you can send your kids off
during the day so they can get an education, it's
going to be hard to see those neighborhoods come back.
Speaker 3 (05:10):
Do you have limitations?
Speaker 1 (05:11):
I want the insurance companies will pay and homes in
the Palisades five six million dollars is not unusual, and
you have a three million dollar limit on insurance policies.
And then here's an interesting one that I didn't even know. Polo,
the contractor who is a remodeled my house. I was
talking to him and he has a couple of clients
(05:34):
in the Palisades that he start rebuilding their homes. He said,
you have two choices in terms of removal of the debris.
You can remove the debris yourself and that's money. Or
you can wait for the corp of Engineers to come
in and remove the debrie for free.
Speaker 3 (05:50):
Here's the problem.
Speaker 1 (05:51):
When they do it, they take out the foundation and
now you have an empty lot. And if you under
if you were grandfathered for a five foot uh set back,
it's now eight feet, you've got to go eight feet.
Speaker 3 (06:04):
If the foundation is.
Speaker 1 (06:05):
Still there, you can read, then you're back to five feet.
That's just one of the myriad of issues that are
going on. It's gonna be crazy. We're gonna be talking
about this for a long long time. Yeah, on this one. Yeah,
it's gonna be heres. It's gonna be heres. It's so
long covered nationally. I mean, the story has gone away, right,
no one talks about it. Everybody's talking about what's going
(06:26):
on with Trump, and everybody's talking about what's going on
with the storm. And we're just starting starting to come
to grips with this. All right, we have to talk
eggs now, Joel, because eggs are as important as anything
going on now, egg prices going up in the end.
Speaker 3 (06:44):
Really, how important is this is it?
Speaker 1 (06:46):
Because everybody eats eggs, and God forbid, you don't eat eggs.
I mean, it's not as important as smoke macke roll,
which everybody lives on.
Speaker 3 (06:54):
You know that, don't you. I mean, that is that's
an issue.
Speaker 4 (06:57):
I mean, if your caviar prices go up, Bill, you're
playing me more upset than the egg prices.
Speaker 1 (07:02):
So let me ask, how important is it or is
that just a market inflation? Is that just where it's going,
society is going, the prices are going.
Speaker 3 (07:10):
Explain the influence here.
Speaker 4 (07:11):
I think like six months ago, I would have said
the price of eggs going up kind of akin to
prices at the pump, where yeah it sucks if it
goes up by fifty cents a gallon twenty five cents
a gallon, and yes it does make an impact on
people's lives. But I would say that it's those bigger
things that we spend money on, Like we see those
lowest common denominator things, and when those move up in price,
(07:33):
there's like an emotional response, right, even though there are
more significant things that we can take care of when
it comes to our budget and it's like, oh, how
about well, I don't know, the brand new truck that
I bought, that's actually you know, hitting me much harder
in the pocketbook than the increased price of gases. But man,
these the way egg prices have gone in recent weeks
and where they're likely heading, and just to see some
(07:55):
of the things like that restaurants are doing to, you know,
cover the increased cost of eggs. Waffle House, of all places,
instituting a fifty cent per egg surcharge. It makes sense,
like how else can they get by. They've got to
raise the menu prices because eggs have gone up in
price so significantly. They're restaurants who were saying, I'm trying
(08:16):
to we're trying to like eliminate eggs from some of
their dishes or just serve fewer egg egg centric dishes
because they're so darn expensive they're harder to get. There
was even, I don't know if you saw this bill
a story in Pennsylvania where somebody stole one hundred thousand eggs, Yeah,
dollars worth of eggs.
Speaker 3 (08:32):
Yeah, incredible steel eggs.
Speaker 1 (08:35):
Before now former cartel smugglers who realized they were making
more money stealing eggs and bringing fentanyl across the border.
Speaker 3 (08:43):
Yeah, that's who.
Speaker 4 (08:45):
We were talking at dinner last night my family about
that story. And then literally last night put my daughter
to bed. She comes walking down the stairs and she
was like, Dad, is someone going to come in our
house and steal eggs out of our fridge? And that's
I mean, obviously little anxiety going on there. But I
was like, no, baby, nobody's gonna comes.
Speaker 3 (09:00):
Steal our eggs.
Speaker 4 (09:01):
But it's crazy town with where egg prices are at
and where they're likely to go, and it is the
lowest common denominator thing. We all feel the pain on that.
But and eggs are still relatively cheap source of protein.
But my goodness, it's getting hard to stomach the price.
Speaker 3 (09:15):
And very well said, hardest to make the price. I
like that.
Speaker 1 (09:20):
Let me ask this, when beef prices are really expensive,
almost out of control, which happens you go to chicken
or you go to pork. When egg prices are the
way there are, how do you substitute eggs? Because I
can't think of it's either eggs or no eggs, that
is the question.
Speaker 3 (09:38):
I think you're right. I think that's it.
Speaker 4 (09:40):
And that's the other problem because there are so many
other things in our life where there is an alternative,
And even with gas prices, it's like, oh, I can
try to drive less right, there are certain things I
can combine some trips, and there's a way to at
least reduce how much how many miles I'm driving.
Speaker 3 (09:56):
When it comes to eggs, it's literally eggs or.
Speaker 4 (09:58):
No eggs, and so so some people might say their
egg substitutes. I just don't know of any that come
to mind that are similar enough. And so you can
either have to stomach it or not. And so maybe
you can reduce your egg intake, but it's not like
you can substitute it for something it's kind of similar,
maybe not as satisfying, and go back to it when
the prices come down, and hopefully the prices will come down.
(10:21):
But the yeah, the bird flu and the cooling of
so many chickens is kind of what's what's led us here.
And I do think then that people see that riding
on the wall and the higher prices, and then maybe
they stock up, which leads to even higher prices. So
it's just kind of like the spiral gets worse and worse.
Speaker 1 (10:37):
Yeah, and we're being told by the FEDS as bad
as a situation is now, be prepared for a twenty
percent increase in the price of eggs over the next year.
I mean, it's kind of insane. I've been to I
live at Costco. That's my therapy, you know. It's just
it's not as cheap as my therapist, because I always
spend at least two hundred dollars when I walk in
(10:58):
the door of Costco. But I noticed you go to
where they have the eggs and they're stacked up to
the ceiling, usually those big sixty cartons of eggs that
are the Costco cells, there were none, yeah, I mean
zero eggs, And you go, wow.
Speaker 3 (11:16):
That is really unusual.
Speaker 4 (11:19):
It's freaky because it's one of those things that you
just expect to be there, like milk or whatever. And yeah,
you might be out of avocados, might be out of
season or something like that, or raspberries, but you just
expect to be able to find milk and eggs every
time you go into the grocery store. And yeah, some
places they're picked over. There's just not many left, and
if they are left, they're incredibly expensive.
Speaker 1 (11:39):
So are the price of eggs one of the basic
proponents And trying or the basic numbers and trying to
figure out what inflation is, it doesn't really add to
the inflation or take away from the inflation numbers.
Speaker 4 (11:52):
I mean no, I mean because you're looking at overall
grocery basket of goods right when you're trying to figure
out inflation numbers, and that is just one company of them,
and we are seeing reduced inflation on other items. They
either reduced prices, actual prices going down on some items
at the grocery store, or just a much much smaller
increases on the price of some items at the grocery store.
(12:14):
Eggs are just kind of the exception to that rule
right now. So we have seen I think prices moderating
at the grocery store. But again, eggs top of mind,
and they're so freaking expensive right now, that just it's
hitting everybody and in the emotional spot. But I don't
think that the price of eggs is significantly impacting your
overall grocery budget for the most part, even though it sucks.
Speaker 3 (12:38):
All right, Joel, thank you. We'll catch you this Sunday
twelve to two pm. You have a good one. All right,
sounds good. Thanks Bill. All right, now let's talk about
we're in a whole new world. But we're not in
a whole new world. One of the.
Speaker 1 (12:54):
Sort of sidebar stories about picking up immigrants and in
general putting.
Speaker 3 (12:59):
People into prison is the cost.
Speaker 1 (13:05):
We have more people in prison than we have prisons.
So a couple of choices happened with a state or
even the FEDS. The state, we have to build more prisons.
You know how expensive that is the cost of a
prison guard.
Speaker 3 (13:20):
It's a good job.
Speaker 1 (13:21):
By the way, the prison guard union is one of
the strongest in California. Are really good jobs, a lot
of money. So prisons were outsourced private prisons. It was cheaper,
they made money, and the problem there wasn't as much
oversight and there wasn't as much control, so allegations of
wrongdoing and abuse and sexual abuse went crazy. So what
(13:42):
Biden promised to do was to stop using private prisons
because they were being used, particularly for immigration. I mean,
where do the detainees go as they're picked up? They
have to go someplace and there aren't federal prisons. They
need detention center, they have to be built. How do
you man them, Well, you go to private prisons. And
(14:06):
so Biden tried.
Speaker 3 (14:08):
To stop it.
Speaker 1 (14:09):
He couldn't because one of the things about the presidency,
and this is not so much Donald Trump, one of
the first things when a president is asked, what is
the most surprising thing about being president, and the answer
inevitably is how little power I have caught up in
this MESSI of bureaucracy. Bureaucracy that is almost impossible to change.
(14:35):
It's like trying to move an aircraft carrier. It's heavy,
it's big, it takes a long time turning. An aircraft
carrier is miles before you can make a turn.
Speaker 3 (14:47):
That's the federal bureaucracy.
Speaker 1 (14:49):
Trump has proven that one wrong that he is changing
it very very quickly. And one of the things he's
doing is going balls to the wall and bringing back prisons,
private prisons, particularly for ICE, and today because of ICE
(15:10):
ICE detainees, the FEDS have more people in private prison
than when Biden took office. It was going down. He
couldn't stop it, but it was going down. And now
it's about to explode. Why because the president is going
balls to the walls. That I said in terms of
arresting people, going to deport people, it says it's not
(15:33):
as if an ICE or border patrol agent picks up
someone who is illegal and then they drive to the airport,
throw them on an airplane and they're back in Guatemala,
or they drive right to the border and let them
off the bus. No, they have to be detained. And
we're talking about thousands and thousands. So the only way
to do it at this point is private prisons. And
(15:56):
by the way, if you're building a prison, try to
do a governmental building versus the private industry.
Speaker 3 (16:05):
It's a fraction of the time, fraction of the cost.
Speaker 1 (16:08):
And so now, since the president has no problem and
in fact is in favor of private prisons, let me
tell you what's going on. Shareholders in a few companies
like Geogroup, core Civic, who own and are expanding private prisons, Well,
let me give you an idea of if you had
(16:31):
invested under Trump. Between election day in November and the
inauxuration day on January twentieth, Geogroup was his largest company
in the country that runs private prison in Geogroups shares
and we're talking about three months, rose one hundred and
thirty three percent, more than doubled. Even the smaller one
(16:53):
core Civic went up sixty percent. And we're seeing the
concept of private prisons explode. And as you can think
and you would, and it makes sense, private prison companies
rise and decline depending on the administration. Republican administrations love them,
(17:14):
Democrats do not. In twenty sixteen, Obama order the Department
of Justice to phase out and end private prisons because
an Inspector General report said they're more violent.
Speaker 3 (17:27):
And public facilities. Trump rescinded that order in his first term.
Speaker 1 (17:32):
Biden gets into office, brings back that order where for example,
the FBI, the Federal Bureau of Prisons is to stop
contracting with private prisons, and now it's coming back with
executive orders. One of the things about executive orders that
are signed and what you're seeing every day is President
Trump signing executive orders, and I mean stacks of him
(17:55):
where he's changing everything, some of which is questionable whether
they're legal or not. But most president does have the
power to issue those executive orders. Well, what he's doing
is issuing new ones or undoing Biden ones, Biden undoing
Trump ones when Biden came into office. And this really
(18:15):
is a yo yo. You have Obama who issued executive orders.
Trump comes in undoes those executive orders. Biden comes in
undoes those. Trump comes in undoes those. Mo Kelly, who
is host of Later with mo Kelly, every Monday through
(18:39):
Friday seven to ten pm.
Speaker 2 (18:40):
He's at mister Mokelly. Good morning Mo, Good morning Bill. Okay,
talk to you.
Speaker 3 (18:45):
Yeah, it's always a pleasure, particularly for you. Now.
Speaker 1 (18:49):
A couple of things. We watched the Osbourne's I have
their reality show. I didn't know that they were before
the Kardashians, but I guess they were. Of course, living
with the Kardashians exploded the reality show and we've had
so many of the Duggans.
Speaker 3 (19:02):
And all of that. Alec Baldwin has come up with
a new reality show.
Speaker 1 (19:07):
He would be the last person you would think that
would have a reality show.
Speaker 2 (19:11):
You would think, And in fact, if you look at
the Baldwin's coverage of this new series, which is going
to drop on TLC on February twenty third, every single
story that I saw made direct reference to the rush
shooting and the killing of Helena Hutchins. So you would
think that they would try to run from this, but no,
TLC is leaning into this. There's a trailer out and
(19:34):
it's about Baldwyn, his wife. There's seven kids and six animals,
and they're trying to portray Alec Baldwin. It's just an
everyday dad who has to deal with all the struggles
of being the father YadA YadA, YadA, blah blah blah.
But at the same time you wonder how it will
be received.
Speaker 3 (19:49):
Yeah, that's crazy, I understand.
Speaker 1 (19:50):
The very first segment, it opens up with one of
the camera people stepping over the dead body of a
camera person who was shot in the house.
Speaker 3 (19:59):
Do I have that right now?
Speaker 1 (20:00):
Oh?
Speaker 3 (20:01):
I don't know if that's correct. Let me go back
and look at the trailer.
Speaker 1 (20:04):
Hey, so you know I was talking to Anne about
this and I'm thinking, what, oh, sorry about my copy stand.
Speaker 3 (20:10):
Where's the motivation here?
Speaker 1 (20:12):
Is it for somehow to bring him back into the
public view as a regular decent guy and him straight
ahead attacking the issue and getting out of the way.
Speaker 3 (20:24):
Is it a money call?
Speaker 1 (20:26):
Does he live large and he hasn't worked the last
couple of years. What do you think the motivation is here?
Speaker 2 (20:32):
I think the answer is yes to all of those things.
If you're Alec Baldwin, I'm quite sure that the checks
are fewer and fewer as he gets older and older.
In fact of the trailer, they kind of make fun
of the fact that he doesn't look like what he
used to In nineteen eighty nine, and if you perceive
him as some homicidal rage monster, yeah, this was probably
to help undo that and make him more palatable for
(20:52):
any number of people or potential acting jobs.
Speaker 3 (20:56):
How old is How old are his kids? Do you
have to know?
Speaker 2 (20:59):
The run the gamut from like three to fourteen? I
think all at home and we had a view of
his house.
Speaker 3 (21:06):
I mean, I don't know.
Speaker 1 (21:07):
I know you've just seen the trailers and you did.
Don't have him into his house for dinner. I'm assuming
does he live large? Are we looking at someone who
you know, has an extraordinarily big home and fly to
vacations on private jets and that sort of thing.
Speaker 3 (21:21):
I don't know if he lives that large.
Speaker 2 (21:23):
But at the same time, if you have that many kids,
and I'm not trying to denigrate him for having a
big family, that's expensive in and of itself. So we
may not think of him as living large as Hollywood
actors star actors would, but he probably has a lot
of expenses. And you'd have to wonder how many television
(21:44):
show opportunities are there for Alec Balwood. Yes, he was
doing Esdale those bit appearances as Donald Trump years ago,
but you don't see a lot of him.
Speaker 1 (21:53):
You know, he's a very likable guy the way he
comes off and comedian, what's serious actor?
Speaker 3 (22:02):
If you remember, was it Glen Garry Glenn Ross.
Speaker 1 (22:06):
He was tremendous in that and that was a straight off,
major serious drama. So do you think this is going
to help his career, help him his reputation or not?
Speaker 2 (22:18):
Put it this way, there were no there was probably
nobody knocking on his door prior to this series. And
if this may open the door for him to do
other things, and yes, it might be just a temporary
bridge from here to there where he can make some
money in a short time, or could turn it into something
like the Kardashians or the Osbornes. We know that history
has demonstrated that this could be a pathway to a
(22:39):
whole new set of fans.
Speaker 1 (22:41):
All right, MO, thank you tonight seven to ten pm
right here on KFI. You have a good one mo
Bye bye, all right, take care. All right, A couple
of things. First of all, I'm taking phone calls for
a handle on the law off the air, and I'm
doing that just as soon as I lock out and
say goodbye to you. Then eight seven seven five to
(23:01):
zero eleven fifty, and as I always tell you, I
go through them very quickly. There'll be no breaks, no commercials,
no news, no weather, no patients on my side. So
we zip through those eight seven seven five two zero
eleven fifty. Gary and Shannon are coming up and they're
looking into Elon Musk's teenage engineers who now have access
(23:22):
to every bit of your information. Kind of sy scary
stuff that's coming round just the moment on the Gary
and Shannon Show.
Speaker 3 (23:30):
We're done, guys, that's it.
Speaker 1 (23:32):
Tomorrow morning, Amy starts at five am, Neil and I
are here from six to nine, and of course we've
got Ann Cono, Matt will God, we're adding up Michelle
who just walked in the door, who was the executive
pro is was our producer for twenty five years and
so she couldn't take it anymore. We'll see you tomorrow, everybody.
(23:54):
KFI am sixty.
Speaker 3 (23:57):
You've been listening to The Bill Handle Show.
Speaker 1 (23:59):
Catch I Show Monday through Friday six am to nine am,
and anytime on demand on the iHeartRadio app.
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