August 13, 2025 • 19 mins
In this current events kickoff, Jerremy Newsome and Dave Conley dissect Trump's push to federalize DC police, deploy the National Guard, and relocate homeless encampments far from the Capitol—linking to broader homelessness fixes like workforce integration in depopulated cities. They expose the Federal Reserve's shadowy independence fueling unchecked money printing and national debt, urging reforms like public audits for voter power, while noting tariff truces as hidden consumer pressures.
Timestamps:
- (00:00) Introduction and Current Events Overview
- (00:01:23) Homelessness and DC Cleanup
- (00:02:08) Trump's Federal Control and Homeless Relocation
- (00:03:14) Small Cities as Solutions for Homeless Integration
- (00:14:08) U.S.–China Tariff Truce: Impact on Consumer Prices
- (00:15:55) Federal Reserve's Private Power and Debt Crisis
- (00:17:43) Reforming the Fed: Voter Accountability and Audits
- (00:18:23) Deep Dive Proposal on Fed Evolution
📢 Solving America’s Problems Podcast – Real Solutions For Real Issues
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Dave Conley (00:00):
Welcome to another great episode of Solving America's Problems.
(00:03):
I am your co-host, Dave Conley, and I'mhere with the esteemed, the brilliant.
The amazing Jerremy AlexanderNewsom, and we are taking a little
bit of a break from our series onimmigration, which we are loving.
We still have a couple ofepisodes coming up on that.
And we decided to take alook at current events.
(00:23):
We've done this a couple oftimes and we've liked it and
we've gotten good feedback on it.
And the idea behind this really isn'tto be a we're, we're not in information.
We're not a news podcast.
There's plenty of those andpeople are hearing plenty of that.
This is about us learning and looking atour biases and where we are today, because
(00:43):
someday we are going to be, Jeremy's goingto be in a position where, he's making
big decisions and this is about okay,what did we think about this in 2025?
How did our.
Ideas around this evolve.
Now that he's in a positionwhere he's making big decisions,
it's what did he get right?
What did he get wrong?
And what do we need to know more about?
So that's why we are doing this.
(01:04):
It's a little bit selfish, and it'sreally for our, also our listeners
to generate some more ideas becausethis is about solving America's
problems and that is about you.
And that's why we talk to allsorts of different people, and
that's why we're doing this.
Mr.
Newsom welcome.
Jerremy Newsome (01:21):
Yeah.
you.
Thank you.
In fact, one of the recenttopics is pretty closely to one
of the discussions that we had.
We were discussing atlength about homelessness,
Dave Conley (01:35):
Right.
Jerremy Newsome (01:35):
and there was a headline, DC cleanup,
control and homeless relocation.
It's almost like they werelistening, they took notes, but
Dave Conley (01:46):
Let's see what.
Which one is this?
What is he saying?
I, like I've been, for our listeners outthere, I've been dealing with some, to go
back to our whole series on healthcare.
I've been dealing with some wildstuff and fortunately I've been,
on top of it, but I've also beena little bit out of the loop.
So what's, what is this?
What's going on?
What did Trump say?
What's going on?
Is this DC
Jerremy Newsome (02:07):
Yeah, exactly.
DC to summarize, Trump said he's placingDC police under federal control, deploying
the guard and relocating encampments ofhomeless individuals far from the capitol.
Dave Conley (02:22):
Oh, wow.
Jerremy Newsome (02:24):
I don't know what that means.
He didn't give any, in true Trumpfashion, he just said giant statements
without any actual information and justused the word billions a couple times.
then you have a Trump speech.
That's what he is working on right now.
Apparently he is moving some things andsome people out, getting 'em somewhere
different, which, not entirely surewhat that means exactly right now.
(02:44):
But that is again, just to tieit back to what we are chatting
about about homelessness.
We do understand that there is a capacityfor something to that point and the fact
that the relocation, the placing potentialindividuals, maybe not the ones like
everyone, but those who want or need orwould love a really beautiful, exciting
(03:06):
second chance, place them in, a spotin the US that needs more workers, more
labor, more population, more people.
Dave Conley (03:14):
Yeah.
Jerremy Newsome (03:14):
And there's tons and tons of small cities where that is a need.
Dave Conley (03:17):
On the other side of this, is this just outta sight, outta mind, like
when we were doing this, I think we camearound to her, like I heard pretty loudly
from some of our guests, which is weallow people to like, sleep on the street.
And that's just like the most inhumanething that we could possibly do.
Jerremy Newsome (03:36):
Yeah.
Dave Conley (03:37):
And is this just like scooping people up
and sending them someplace?
Or is this like scooping peopleup and being like, okay, let's
get their mental health evaluated.
Let's get their regular held evaluated.
Let's get them, like in a process?
Or is it just oh let's ship'em to the eastern shore,
Jerremy Newsome (03:52):
don't think he's doing the first part.
Dave Conley (03:54):
Oh.
Jerremy Newsome (03:54):
I don't wanna see homeless people when I walk into my big
white house, get 'em off my golf course.
I think that's whatTrump's doing right now.
Dave Conley (04:02):
The, what's the upside to this?
I don't like, I, okay, so Iget it on one sense of okay.
Yeah, you're right.
You don't wanna just have a bunch ofhomeless people hanging out and we don't
want people hanging out on the streets.
But on the other hand, you just didn'twanna make it somebody else's problem.
Or you just want to, oh,let's send them to the woods.
That's even more inhumane,let's send them to the camps.
(04:24):
I'm like, oh.
Jerremy Newsome (04:25):
Yep.
There's that again, I don't think heis, obviously you have the left and
right bias of what's going on there.
Obviously some of the federalmuscle versus local sovereignty
with a different police, a littlebit of an authoritarian overreach,
potentially criminalizing poverty.
And then you have, the far right'sprobably gonna be like, Hey, get him out.
(04:46):
He's taking decisive action.
After some type of local failure, localnot doing what he wanted them to do.
I don't know, ma'am, thatone's an interesting one.
Obviously you have the reallyunique one from a stock market
perspective potentially is the USChina tariff truce runs out tomorrow.
(05:08):
90 day pause expires August 12th.
So today, as of thisrecording is August 11th.
are racing around the clock asbroader tariff regimes already
strained prices and supply chains.
Markets will read the call as leverageor consumers tax, which is probably
what a lot of us are feeling right now.
(05:30):
So we're looking around and we're justseeing that pretty much everything
is becoming more expensive and itdefinitely feels more expensive.
So that's happening atthis exact moment in time.
Dave Conley (05:41):
So here's the, there's a little bit of a
deep dive in this briefing.
It's okay, Trump's historic tariff bomb,10% to 41% on 70 different countries.
I love this headline, thisis like total bias and crash.
The market 542 points.
You live this, 542 pointsis like a rounding error.
If you just zoom back like, I don'tknow, six months a year, 542 points is
(06:04):
like a necessary slight correction thatprobably bounced back the next day.
I can't stand those kind of headlines.
China 90 Day Pause expiresthis Tuesday, so it's tomorrow.
So this is gonna be actually launching onTuesday with the China Tariffs ex, going,
and then India's getting hammered too.
So everybody who was Hey.
Get outta China.
A lot of 'em went to India.
(06:25):
And so then they get this.
So like these companies are likeracing around the world, being
like, okay, where do we go next?
Jerremy Newsome (06:30):
Yeah.
Dave Conley (06:30):
I don't know.
We had an entire thing the lasttime we did this was on tariffs.
I'm still scratching my head.
This seems like total chaos and we'retrying to drive international relations
through this one lens of tariffs.
And you're like, Hey, actually there'ssome good thing I like, there's some
good stuff that's coming outta this.
And like the other halfof this is I don't get it.
So I don't know.
What's your you are more of anexpert on this than I've heard.
(06:53):
Like 99%.
What is this?
Jerremy Newsome (06:56):
really, again, it's gonna be a, it is a
posturing play presently as well.
Gotta think about it this way.
If Trump says, Hey, we're gonna tariff you
Now, it's a negotiation.
Dave Conley (07:06):
yeah.
Jerremy Newsome (07:06):
It's a chip, right?
It's a bargaining chip, and itdoesn't mean that he ever has to.
Dave Conley (07:10):
Yeah.
Jerremy Newsome (07:11):
just having the ability to do so opens up that negotiation,
because then if he removes said tariff,which he never actually put into place
in the first place, then he's nicer.
And it's really probably like thisleverage that he doesn't actually have
to implement unless he really wants to.
And he did with Switzerland.
(07:32):
He called him and was like, Hey, we'reputting a, I'm putting a 30% terra all
goods, all Switzerland effective now.
And they're like, no.
And they didn't have to, theydidn't have any time to negotiate.
And so it, it did bring thatconversation to a forefront.
And I think ultimately that's really whatTrump's doing right now is just picking
(07:54):
and choosing who he wants to come to thenegotiation table so that he can attempt
to get his way with whatever he wants hisway with this ultimate negotiation of.
If you want to work with me and youwanna do something with me, you have
to bring something to the table.
And that's kinda what happened withthe China Nvidia Apple chips play
(08:15):
with, Tim Cook and Trump is, Tim Cooksaid, Hey, we're gonna, I'm gonna
put in almost a trillion dollars intothis American infrastructure play.
And I'm quite confident that the way hegot that, this being Trump, the way he got
that conversation to happen was because.
(08:35):
was going to tariff the absolute crapout of Apple and everything that was
getting produced and manufacturedin China, all the chips, all the
companies that were gonna be usingChina for the manufacturing, it
was gonna cost so much more money.
He said, Hey, bring someof that infrastructure.
Bring some of that dollars that you'regonna spend, of spending it now on
(08:57):
increased prices, bring some of yourprofits here to the US and start
building out more US infrastructurefor this particular sector or industry.
Which, did pull that off correctly.
That did actually happen.
And then Apple had a really beautifulrunup two or three days after they
earnings, which they came in $5 billionover what they were estimating, which is
Dave Conley (09:19):
Wow.
Jerremy Newsome (09:20):
Yeah, after that, they increased 13% in the next week,
which was also on the tail of thenews of them, spending more money to.
Build out the systematic infrastructureof the us So that's what's happening, man.
It's posturing, right?
He's throwing around this word.
He's throwing around a defensive mechanismwhere if I say the word tariff to a
(09:42):
country, they're now on the defensive.
I'm in the offensive and they haveto come and play in my golf course.
They gotta come to me and have aconversation being on the defensive,
and I really think that's justwhat he's gonna continue doing.
Dave Conley (09:54):
And this was also India this week, like he slapped these giant tariffs
Jerremy Newsome (09:59):
Giant.
Dave Conley (10:00):
to drive Russian oil.
Right.
You know, because, I mean, I wentto grad school with a lot of Indian
nationals, so like a couple of thingsthat I, I know from these awesome
people that I went to school with.
One they're very proud of India.
So like, I can imagine, andthey're also quite conservative,
meaning, you know, just socially.
(10:21):
Um, and so like you're gonna find someTrump supporters in there, or you're
gonna find some libertarians in there.
Like they're quite conservativeand extremely smart, right?
This kind of posturing of we're justgonna slap these giant tariffs on India.
I gotta light some of 'em up and ask them,I know they're not gonna take this well,
and these are, they're living in America,but they're quite tied to the old country.
I don't know.
(10:41):
That's gonna drive like a lot ofand certainly the brilliance around
this is, the Indians were basicallytaking, what do they call it?
Sort of the difference between thediscount price and being able to
repackage it and sell it to thepeople who need oil in the area, so
they were able to work that margin.
Ah, I would do that too.
That's some brilliantbusiness right there.
Jerremy Newsome (11:00):
yeah.
Dave Conley (11:01):
I,
Jerremy Newsome (11:01):
Yeah.
Dave Conley (11:01):
so in a sense, like he's driving foreign policy through tariffs.
Is the consumer actually feeling this?
Part of this is also tied up withthe Fed and Chairman Powell, right?
Who's holding steady and beingcalled like a big moron by Trump.
And he's saying look, the tariffsare gonna cause some inflation.
(11:23):
So we're keeping like this rate,this big dial, where it is.
And then, like our consumers actuallyseeing this, anecdotally, like I was
actually looking at some electronicsfor my boo and it turned out that it
was, the price had gone like reallyhigh for this piece of electronics that
she was interested in because she oftencomes to the United States and she'll
buy something here and then take itback home because it's a lot cheaper.
(11:46):
But it turned out to be the exactsame price as what she was paying,
Jerremy Newsome (11:48):
yep.
Dave Conley (11:49):
I don't know if people are actually feeling
this isn't the CPI tomorrow?
I dunno, I'm rambling, but part of thisis I'm also listening to Peter Zion,
like we've read his books and he'ssaying, look, they're doing all these
tariffs, but there's nobody on the otherend actually negotiating these things.
There's nobody in the commerce departmentthat's like picking up the phone and all
these countries are like, yeah, we'rehere to do it, but who do we talk to?
(12:10):
Do we just ring the president?
Like, how does this work?
So I'm seeing it as chaos and isit actually affecting anything?
Is it affecting the economy?
I don't know.
Jerremy Newsome (12:19):
I think it is, yes.
Affecting the economy.
I mean it is being felt, I thinkprices across the country on
almost everything have increased
Dave Conley (12:31):
Okay.
Jerremy Newsome (12:32):
insurance, eggs, gas.
Car payments.
Other than probably variableinterest rate loans, which haven't
increased recently, everything elseis probably going up or has gone up.
At least I'm noticing that.
Firsthand and I've goneacross the entire country,
Dave Conley (12:51):
Right
Jerremy Newsome (12:51):
over the last three or four weeks.
I've gone everywhere from Pennsylvania,West Virginia, North Carolina, California,
Dave Conley (12:57):
Alaska
Jerremy Newsome (12:58):
Alaska, Cal.
Yeah.
Nevada.
But everywhere are going up, man on
Yep.
Every single thing all over.
So it is very noticeable.
And again, it could be an interestingtrickle down effect, but that's
also why Jerome hasn't lowered theinterest rates, which is the number
one thing I mentioned that Trump wants.
(13:18):
'cause that's gonna increase the price ofreal estate dramatically immediately, but.
Inflation is going up, right?
Inflation is the cost ofgoods and services higher?
And the answer is yes.
So not gonna lower interestrates right now because
everything is so expensive still.
Dave Conley (13:36):
All right.
Do you, I want to do a deep dive onthe whole and the Fed folks, like
the libertarians and like the historyand as soon as, and then I'll, I'm
sure I'll hear like Rothchild andI'll just like completely tune out
because I'm like, ah, soon as I hearthose names I'm like, ah, forget it.
You guys are, you'rejust not, I can't do it.
Now I did hear, like somebody interviewedrecently, I think it was on Tucker
(13:58):
Carlson, which I've been, surprisinglylistening to a lot more who was
actually an economist who actually,gave a lot more information on the
Fed, but I didn't quite understand it.
So this has been, your world is moneyand finance and stocks in the world.
What do you know about can yougive me like a little bit of like a
thumbnail sketch of and the fed andthe, like this fight that Trump's
(14:20):
having and lowering the interest rate.
Raising the interest rate, like it'sjust a big dial that they have in order
to try and keep inflation under check.
But if we lower that andinflation is going up, aren't we
just gonna see more inflation?
Like why is, what is this what is thisweirdness te teach me something on this.
Jerremy Newsome (14:39):
I'll try.
'Cause ultimately the Federal Reserve.
The Fed, right?
That's the long name for it isn't federal,
Dave Conley (14:47):
Cool.
Jerremy Newsome (14:48):
nor is it a reserve.
So it's really fascinating as you divemore and more into it because it really
was created by JD Rockefeller, right?
Dave Conley (15:00):
Oh, great.
Rothchild and Rockefellers and who else?
Jerremy Newsome (15:03):
Yeah.
That's the problem is though,that's the historical fact.
Like it's all their money.
Dave Conley (15:08):
Yeah.
Jerremy Newsome (15:09):
And so there is some very uniqueness to that because
the reason, and this is the evidencethough, Dave is like the reason that the
president can't just go, yo, do this.
Dave Conley (15:17):
Yeah.
Jerremy Newsome (15:17):
'cause he doesn't have control over it,
Dave Conley (15:19):
Okay.
Jerremy Newsome (15:21):
right?
He has none.
He has no control.
It's a private organization.
It's
Dave Conley (15:24):
Huh?
Huh.
Jerremy Newsome (15:26):
So no one, we can't vote it like he can choose a fed chair.
Like he can he, he actually was upset.
This is a fun, I haven't fact checkedthis, but he was upset that Jerome
Powell was doing such a terrible job.
He is whoever appointed you isawful, he appointed him in 20.
Dave Conley (15:44):
He's a Trump appointee.
That's hilarious.
Whoever, what's, who's the moron?
Who appointed?
Oops.
Jerremy Newsome (15:50):
yeah.
Oh boy.
So I didn't, I haven't fact checkedthat if that's entirely true.
I just thought on Twitter, but it sounds
Dave Conley (15:55):
Sounds right.
Jerremy Newsome (15:57):
Yeah, but I mean that, the interesting thing is about the Federal
Reserve, like it's really the centralbanking system that's not under government
control and it's not under people control.
And so it is I would say98% a private institution.
Very interesting.
There's a fascinating bookthe Creature of Jeal Island.
Is goes a lot more into that.
Like when Rockefeller set it up inthe twenties and like how he donated
(16:19):
to it and the reason he was doingthat and the point and the purpose
of all of it, and how he was gettingpaid and how he was structuring the
debt and the loans and the notes.
It really was interesting.
Now the downside to that, or theinteresting thought that I have is
right now if the Federal Reserve,let's actually pretend, became federal
and then became an actual reserve ifthat happened under whatever regime
(16:41):
made it occur, it would probablyimpact the US dollar pretty greatly.
Negatively because I think in avery unique way, that's probably a
large reason for our debt, a largereason for our debt is borrowing
from the Federal Reserve to then.
stimulus.
(17:01):
That's one of our, that's ourcheck writing process, right?
Is the fed prints all the cash.
So if we start fighting the Fedtoo aggressively, we're gonna
need to pay them back somehow.
Somewhere.
Dave Conley (17:12):
Geez.
Jerremy Newsome (17:12):
Yeah.
And I don't know if we even havethe capacity or the capability
of doing that in the short term.
Yeah, man, when it's fight the fed that,that's the thing is like people are
just starting to wake up to just theiroverall importance and also incompetence.
And at the same time non-governmentappointed individuals
like you and I can't vote
Dave Conley (17:31):
Yeah.
Jerremy Newsome (17:32):
anything that the Fed does
Anywhere.
It's quite fascinating.
So
That's why people are trying to take it.
Like the libertarians arelike, take it down and
Dave Conley (17:39):
right,
Jerremy Newsome (17:39):
right?
Make it something we can vote on.
Make it people that we can appoint
Dave Conley (17:43):
Oh, I see.
Jerremy Newsome (17:43):
we can go, Hey, lower interest rate or raise it.
Let's all vote.
Dave Conley (17:46):
Yeah.
Jerremy Newsome (17:46):
figure it out.
Dave Conley (17:48):
I feel, yeah, I wanna do a deep dive in, we need to do like a
mini series on the Fed and all that.
We did, I think we did a test broadcastactually on the debt, didn't we?
Yeah.
Jerremy Newsome (17:57):
Yeah, we did test podcast.
It was beta.
Probably like a year ago.
When we were testing all this stuff out.
Dave Conley (18:02):
Because I'm like, ah, I'm a little bit fuzzy, like it's a lender of
last resort, but then it's sets all thesethings and it buys all these things and I
dunno, man, seems like shenanigans to me.
And then didn't Hamilton not want it, orHamilton did want it and we don't need it.
Let the market do it.
I'm like, oh God, this is what is this?
Jerremy Newsome (18:23):
Yeah.
Dave Conley (18:23):
And ultimately I think, I want to know from that discussion it's
okay, you are in a position of power.
Would you reform the Fed?
Change the Fed, evolve the Fed,knowing it's an independent agency.
Or an independent entity, whatdoes need to happen, if anything?
Or is it like, yeah, let itkeep doing what it's doing.
I don't know
Jerremy Newsome (18:43):
I think reform is probably the better word.
In that regard I definitely would it upto some scrutiny, to some accounting.
Dave Conley (18:51):
Tell us what you're doing.
Jerremy Newsome (18:52):
Yeah.
Maybe you have some records havea balance sheet per Yeah, exactly.
Create some actual publicinformation people can review.
Alex (19:03):
“From hidden games on Wall Street to the raw realities on
DC’s streets, we’ve mapped theeconomic moves shaping America now.
And that’s just the opening act—next,climate clashes, a summit that could
reshape global power, and the hardtruths tying energy to conflict.”
Welcome to another great episode of Solving America's Problems.
(00:03):
I am your co-host, Dave Conley, and I'mhere with the esteemed, the brilliant.
The amazing Jerremy AlexanderNewsom, and we are taking a little
bit of a break from our series onimmigration, which we are loving.
We still have a couple ofepisodes coming up on that.
And we decided to take alook at current events.
(00:23):
We've done this a couple oftimes and we've liked it and
we've gotten good feedback on it.
And the idea behind this really isn'tto be a we're, we're not in information.
We're not a news podcast.
There's plenty of those andpeople are hearing plenty of that.
This is about us learning and looking atour biases and where we are today, because
(00:43):
someday we are going to be, Jeremy's goingto be in a position where, he's making
big decisions and this is about okay,what did we think about this in 2025?
How did our.
Ideas around this evolve.
Now that he's in a positionwhere he's making big decisions,
it's what did he get right?
What did he get wrong?
And what do we need to know more about?
So that's why we are doing this.
(01:04):
It's a little bit selfish, and it'sreally for our, also our listeners
to generate some more ideas becausethis is about solving America's
problems and that is about you.
And that's why we talk to allsorts of different people, and
that's why we're doing this.
Mr.
Newsom welcome.
Jerremy Newsome (01:21):
Yeah.
you.
Thank you.
In fact, one of the recenttopics is pretty closely to one
of the discussions that we had.
We were discussing atlength about homelessness,
Dave Conley (01:35):
Right.
Jerremy Newsome (01:35):
and there was a headline, DC cleanup,
control and homeless relocation.
It's almost like they werelistening, they took notes, but
Dave Conley (01:46):
Let's see what.
Which one is this?
What is he saying?
I, like I've been, for our listeners outthere, I've been dealing with some, to go
back to our whole series on healthcare.
I've been dealing with some wildstuff and fortunately I've been,
on top of it, but I've also beena little bit out of the loop.
So what's, what is this?
What's going on?
What did Trump say?
What's going on?
Is this DC
Jerremy Newsome (02:07):
Yeah, exactly.
DC to summarize, Trump said he's placingDC police under federal control, deploying
the guard and relocating encampments ofhomeless individuals far from the capitol.
Dave Conley (02:22):
Oh, wow.
Jerremy Newsome (02:24):
I don't know what that means.
He didn't give any, in true Trumpfashion, he just said giant statements
without any actual information and justused the word billions a couple times.
then you have a Trump speech.
That's what he is working on right now.
Apparently he is moving some things andsome people out, getting 'em somewhere
different, which, not entirely surewhat that means exactly right now.
(02:44):
But that is again, just to tieit back to what we are chatting
about about homelessness.
We do understand that there is a capacityfor something to that point and the fact
that the relocation, the placing potentialindividuals, maybe not the ones like
everyone, but those who want or need orwould love a really beautiful, exciting
(03:06):
second chance, place them in, a spotin the US that needs more workers, more
labor, more population, more people.
Dave Conley (03:14):
Yeah.
Jerremy Newsome (03:14):
And there's tons and tons of small cities where that is a need.
Dave Conley (03:17):
On the other side of this, is this just outta sight, outta mind, like
when we were doing this, I think we camearound to her, like I heard pretty loudly
from some of our guests, which is weallow people to like, sleep on the street.
And that's just like the most inhumanething that we could possibly do.
Jerremy Newsome (03:36):
Yeah.
Dave Conley (03:37):
And is this just like scooping people up
and sending them someplace?
Or is this like scooping peopleup and being like, okay, let's
get their mental health evaluated.
Let's get their regular held evaluated.
Let's get them, like in a process?
Or is it just oh let's ship'em to the eastern shore,
Jerremy Newsome (03:52):
don't think he's doing the first part.
Dave Conley (03:54):
Oh.
Jerremy Newsome (03:54):
I don't wanna see homeless people when I walk into my big
white house, get 'em off my golf course.
I think that's whatTrump's doing right now.
Dave Conley (04:02):
The, what's the upside to this?
I don't like, I, okay, so Iget it on one sense of okay.
Yeah, you're right.
You don't wanna just have a bunch ofhomeless people hanging out and we don't
want people hanging out on the streets.
But on the other hand, you just didn'twanna make it somebody else's problem.
Or you just want to, oh,let's send them to the woods.
That's even more inhumane,let's send them to the camps.
(04:24):
I'm like, oh.
Jerremy Newsome (04:25):
Yep.
There's that again, I don't think heis, obviously you have the left and
right bias of what's going on there.
Obviously some of the federalmuscle versus local sovereignty
with a different police, a littlebit of an authoritarian overreach,
potentially criminalizing poverty.
And then you have, the far right'sprobably gonna be like, Hey, get him out.
(04:46):
He's taking decisive action.
After some type of local failure, localnot doing what he wanted them to do.
I don't know, ma'am, thatone's an interesting one.
Obviously you have the reallyunique one from a stock market
perspective potentially is the USChina tariff truce runs out tomorrow.
(05:08):
90 day pause expires August 12th.
So today, as of thisrecording is August 11th.
are racing around the clock asbroader tariff regimes already
strained prices and supply chains.
Markets will read the call as leverageor consumers tax, which is probably
what a lot of us are feeling right now.
(05:30):
So we're looking around and we're justseeing that pretty much everything
is becoming more expensive and itdefinitely feels more expensive.
So that's happening atthis exact moment in time.
Dave Conley (05:41):
So here's the, there's a little bit of a
deep dive in this briefing.
It's okay, Trump's historic tariff bomb,10% to 41% on 70 different countries.
I love this headline, thisis like total bias and crash.
The market 542 points.
You live this, 542 pointsis like a rounding error.
If you just zoom back like, I don'tknow, six months a year, 542 points is
(06:04):
like a necessary slight correction thatprobably bounced back the next day.
I can't stand those kind of headlines.
China 90 Day Pause expiresthis Tuesday, so it's tomorrow.
So this is gonna be actually launching onTuesday with the China Tariffs ex, going,
and then India's getting hammered too.
So everybody who was Hey.
Get outta China.
A lot of 'em went to India.
(06:25):
And so then they get this.
So like these companies are likeracing around the world, being
like, okay, where do we go next?
Jerremy Newsome (06:30):
Yeah.
Dave Conley (06:30):
I don't know.
We had an entire thing the lasttime we did this was on tariffs.
I'm still scratching my head.
This seems like total chaos and we'retrying to drive international relations
through this one lens of tariffs.
And you're like, Hey, actually there'ssome good thing I like, there's some
good stuff that's coming outta this.
And like the other halfof this is I don't get it.
So I don't know.
What's your you are more of anexpert on this than I've heard.
(06:53):
Like 99%.
What is this?
Jerremy Newsome (06:56):
really, again, it's gonna be a, it is a
posturing play presently as well.
Gotta think about it this way.
If Trump says, Hey, we're gonna tariff you
Now, it's a negotiation.
Dave Conley (07:06):
yeah.
Jerremy Newsome (07:06):
It's a chip, right?
It's a bargaining chip, and itdoesn't mean that he ever has to.
Dave Conley (07:10):
Yeah.
Jerremy Newsome (07:11):
just having the ability to do so opens up that negotiation,
because then if he removes said tariff,which he never actually put into place
in the first place, then he's nicer.
And it's really probably like thisleverage that he doesn't actually have
to implement unless he really wants to.
And he did with Switzerland.
(07:32):
He called him and was like, Hey, we'reputting a, I'm putting a 30% terra all
goods, all Switzerland effective now.
And they're like, no.
And they didn't have to, theydidn't have any time to negotiate.
And so it, it did bring thatconversation to a forefront.
And I think ultimately that's really whatTrump's doing right now is just picking
(07:54):
and choosing who he wants to come to thenegotiation table so that he can attempt
to get his way with whatever he wants hisway with this ultimate negotiation of.
If you want to work with me and youwanna do something with me, you have
to bring something to the table.
And that's kinda what happened withthe China Nvidia Apple chips play
(08:15):
with, Tim Cook and Trump is, Tim Cooksaid, Hey, we're gonna, I'm gonna
put in almost a trillion dollars intothis American infrastructure play.
And I'm quite confident that the way hegot that, this being Trump, the way he got
that conversation to happen was because.
(08:35):
was going to tariff the absolute crapout of Apple and everything that was
getting produced and manufacturedin China, all the chips, all the
companies that were gonna be usingChina for the manufacturing, it
was gonna cost so much more money.
He said, Hey, bring someof that infrastructure.
Bring some of that dollars that you'regonna spend, of spending it now on
(08:57):
increased prices, bring some of yourprofits here to the US and start
building out more US infrastructurefor this particular sector or industry.
Which, did pull that off correctly.
That did actually happen.
And then Apple had a really beautifulrunup two or three days after they
earnings, which they came in $5 billionover what they were estimating, which is
Dave Conley (09:19):
Wow.
Jerremy Newsome (09:20):
Yeah, after that, they increased 13% in the next week,
which was also on the tail of thenews of them, spending more money to.
Build out the systematic infrastructureof the us So that's what's happening, man.
It's posturing, right?
He's throwing around this word.
He's throwing around a defensive mechanismwhere if I say the word tariff to a
(09:42):
country, they're now on the defensive.
I'm in the offensive and they haveto come and play in my golf course.
They gotta come to me and have aconversation being on the defensive,
and I really think that's justwhat he's gonna continue doing.
Dave Conley (09:54):
And this was also India this week, like he slapped these giant tariffs
Jerremy Newsome (09:59):
Giant.
Dave Conley (10:00):
to drive Russian oil.
Right.
You know, because, I mean, I wentto grad school with a lot of Indian
nationals, so like a couple of thingsthat I, I know from these awesome
people that I went to school with.
One they're very proud of India.
So like, I can imagine, andthey're also quite conservative,
meaning, you know, just socially.
(10:21):
Um, and so like you're gonna find someTrump supporters in there, or you're
gonna find some libertarians in there.
Like they're quite conservativeand extremely smart, right?
This kind of posturing of we're justgonna slap these giant tariffs on India.
I gotta light some of 'em up and ask them,I know they're not gonna take this well,
and these are, they're living in America,but they're quite tied to the old country.
I don't know.
(10:41):
That's gonna drive like a lot ofand certainly the brilliance around
this is, the Indians were basicallytaking, what do they call it?
Sort of the difference between thediscount price and being able to
repackage it and sell it to thepeople who need oil in the area, so
they were able to work that margin.
Ah, I would do that too.
That's some brilliantbusiness right there.
Jerremy Newsome (11:00):
yeah.
Dave Conley (11:01):
I,
Jerremy Newsome (11:01):
Yeah.
Dave Conley (11:01):
so in a sense, like he's driving foreign policy through tariffs.
Is the consumer actually feeling this?
Part of this is also tied up withthe Fed and Chairman Powell, right?
Who's holding steady and beingcalled like a big moron by Trump.
And he's saying look, the tariffsare gonna cause some inflation.
(11:23):
So we're keeping like this rate,this big dial, where it is.
And then, like our consumers actuallyseeing this, anecdotally, like I was
actually looking at some electronicsfor my boo and it turned out that it
was, the price had gone like reallyhigh for this piece of electronics that
she was interested in because she oftencomes to the United States and she'll
buy something here and then take itback home because it's a lot cheaper.
(11:46):
But it turned out to be the exactsame price as what she was paying,
Jerremy Newsome (11:48):
yep.
Dave Conley (11:49):
I don't know if people are actually feeling
this isn't the CPI tomorrow?
I dunno, I'm rambling, but part of thisis I'm also listening to Peter Zion,
like we've read his books and he'ssaying, look, they're doing all these
tariffs, but there's nobody on the otherend actually negotiating these things.
There's nobody in the commerce departmentthat's like picking up the phone and all
these countries are like, yeah, we'rehere to do it, but who do we talk to?
(12:10):
Do we just ring the president?
Like, how does this work?
So I'm seeing it as chaos and isit actually affecting anything?
Is it affecting the economy?
I don't know.
Jerremy Newsome (12:19):
I think it is, yes.
Affecting the economy.
I mean it is being felt, I thinkprices across the country on
almost everything have increased
Dave Conley (12:31):
Okay.
Jerremy Newsome (12:32):
insurance, eggs, gas.
Car payments.
Other than probably variableinterest rate loans, which haven't
increased recently, everything elseis probably going up or has gone up.
At least I'm noticing that.
Firsthand and I've goneacross the entire country,
Dave Conley (12:51):
Right
Jerremy Newsome (12:51):
over the last three or four weeks.
I've gone everywhere from Pennsylvania,West Virginia, North Carolina, California,
Dave Conley (12:57):
Alaska
Jerremy Newsome (12:58):
Alaska, Cal.
Yeah.
Nevada.
But everywhere are going up, man on
Yep.
Every single thing all over.
So it is very noticeable.
And again, it could be an interestingtrickle down effect, but that's
also why Jerome hasn't lowered theinterest rates, which is the number
one thing I mentioned that Trump wants.
(13:18):
'cause that's gonna increase the price ofreal estate dramatically immediately, but.
Inflation is going up, right?
Inflation is the cost ofgoods and services higher?
And the answer is yes.
So not gonna lower interestrates right now because
everything is so expensive still.
Dave Conley (13:36):
All right.
Do you, I want to do a deep dive onthe whole and the Fed folks, like
the libertarians and like the historyand as soon as, and then I'll, I'm
sure I'll hear like Rothchild andI'll just like completely tune out
because I'm like, ah, soon as I hearthose names I'm like, ah, forget it.
You guys are, you'rejust not, I can't do it.
Now I did hear, like somebody interviewedrecently, I think it was on Tucker
(13:58):
Carlson, which I've been, surprisinglylistening to a lot more who was
actually an economist who actually,gave a lot more information on the
Fed, but I didn't quite understand it.
So this has been, your world is moneyand finance and stocks in the world.
What do you know about can yougive me like a little bit of like a
thumbnail sketch of and the fed andthe, like this fight that Trump's
(14:20):
having and lowering the interest rate.
Raising the interest rate, like it'sjust a big dial that they have in order
to try and keep inflation under check.
But if we lower that andinflation is going up, aren't we
just gonna see more inflation?
Like why is, what is this what is thisweirdness te teach me something on this.
Jerremy Newsome (14:39):
I'll try.
'Cause ultimately the Federal Reserve.
The Fed, right?
That's the long name for it isn't federal,
Dave Conley (14:47):
Cool.
Jerremy Newsome (14:48):
nor is it a reserve.
So it's really fascinating as you divemore and more into it because it really
was created by JD Rockefeller, right?
Dave Conley (15:00):
Oh, great.
Rothchild and Rockefellers and who else?
Jerremy Newsome (15:03):
Yeah.
That's the problem is though,that's the historical fact.
Like it's all their money.
Dave Conley (15:08):
Yeah.
Jerremy Newsome (15:09):
And so there is some very uniqueness to that because
the reason, and this is the evidencethough, Dave is like the reason that the
president can't just go, yo, do this.
Dave Conley (15:17):
Yeah.
Jerremy Newsome (15:17):
'cause he doesn't have control over it,
Dave Conley (15:19):
Okay.
Jerremy Newsome (15:21):
right?
He has none.
He has no control.
It's a private organization.
It's
Dave Conley (15:24):
Huh?
Huh.
Jerremy Newsome (15:26):
So no one, we can't vote it like he can choose a fed chair.
Like he can he, he actually was upset.
This is a fun, I haven't fact checkedthis, but he was upset that Jerome
Powell was doing such a terrible job.
He is whoever appointed you isawful, he appointed him in 20.
Dave Conley (15:44):
He's a Trump appointee.
That's hilarious.
Whoever, what's, who's the moron?
Who appointed?
Oops.
Jerremy Newsome (15:50):
yeah.
Oh boy.
So I didn't, I haven't fact checkedthat if that's entirely true.
I just thought on Twitter, but it sounds
Dave Conley (15:55):
Sounds right.
Jerremy Newsome (15:57):
Yeah, but I mean that, the interesting thing is about the Federal
Reserve, like it's really the centralbanking system that's not under government
control and it's not under people control.
And so it is I would say98% a private institution.
Very interesting.
There's a fascinating bookthe Creature of Jeal Island.
Is goes a lot more into that.
Like when Rockefeller set it up inthe twenties and like how he donated
(16:19):
to it and the reason he was doingthat and the point and the purpose
of all of it, and how he was gettingpaid and how he was structuring the
debt and the loans and the notes.
It really was interesting.
Now the downside to that, or theinteresting thought that I have is
right now if the Federal Reserve,let's actually pretend, became federal
and then became an actual reserve ifthat happened under whatever regime
(16:41):
made it occur, it would probablyimpact the US dollar pretty greatly.
Negatively because I think in avery unique way, that's probably a
large reason for our debt, a largereason for our debt is borrowing
from the Federal Reserve to then.
stimulus.
(17:01):
That's one of our, that's ourcheck writing process, right?
Is the fed prints all the cash.
So if we start fighting the Fedtoo aggressively, we're gonna
need to pay them back somehow.
Somewhere.
Dave Conley (17:12):
Geez.
Jerremy Newsome (17:12):
Yeah.
And I don't know if we even havethe capacity or the capability
of doing that in the short term.
Yeah, man, when it's fight the fed that,that's the thing is like people are
just starting to wake up to just theiroverall importance and also incompetence.
And at the same time non-governmentappointed individuals
like you and I can't vote
Dave Conley (17:31):
Yeah.
Jerremy Newsome (17:32):
anything that the Fed does
Anywhere.
It's quite fascinating.
So
That's why people are trying to take it.
Like the libertarians arelike, take it down and
Dave Conley (17:39):
right,
Jerremy Newsome (17:39):
right?
Make it something we can vote on.
Make it people that we can appoint
Dave Conley (17:43):
Oh, I see.
Jerremy Newsome (17:43):
we can go, Hey, lower interest rate or raise it.
Let's all vote.
Dave Conley (17:46):
Yeah.
Jerremy Newsome (17:46):
figure it out.
Dave Conley (17:48):
I feel, yeah, I wanna do a deep dive in, we need to do like a
mini series on the Fed and all that.
We did, I think we did a test broadcastactually on the debt, didn't we?
Yeah.
Jerremy Newsome (17:57):
Yeah, we did test podcast.
It was beta.
Probably like a year ago.
When we were testing all this stuff out.
Dave Conley (18:02):
Because I'm like, ah, I'm a little bit fuzzy, like it's a lender of
last resort, but then it's sets all thesethings and it buys all these things and I
dunno, man, seems like shenanigans to me.
And then didn't Hamilton not want it, orHamilton did want it and we don't need it.
Let the market do it.
I'm like, oh God, this is what is this?
Jerremy Newsome (18:23):
Yeah.
Dave Conley (18:23):
And ultimately I think, I want to know from that discussion it's
okay, you are in a position of power.
Would you reform the Fed?
Change the Fed, evolve the Fed,knowing it's an independent agency.
Or an independent entity, whatdoes need to happen, if anything?
Or is it like, yeah, let itkeep doing what it's doing.
I don't know
Jerremy Newsome (18:43):
I think reform is probably the better word.
In that regard I definitely would it upto some scrutiny, to some accounting.
Dave Conley (18:51):
Tell us what you're doing.
Jerremy Newsome (18:52):
Yeah.
Maybe you have some records havea balance sheet per Yeah, exactly.
Create some actual publicinformation people can review.
Alex (19:03):
“From hidden games on Wall Street to the raw realities on
DC’s streets, we’ve mapped theeconomic moves shaping America now.
And that’s just the opening act—next,climate clashes, a summit that could
reshape global power, and the hardtruths tying energy to conflict.”
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