September 6, 2024 • 21 mins
Trump’s Economic Dud! www.watchdogonwallstreet.com
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski Man.
Speaker 2 (00:16):
That was disappointing, one big, fat economic dud. I don't
really know how else to put it. You know, you
get excited, maybe you know you're looking forward to seeing
a film or television show's coming out, and you watch
it and you're like, oh boy, that's really Yeah. Anyway, Yeah,
(00:41):
I'm gonna tick off all the super Trumpsters out there. Yeah.
Trump's economic speech was lousy at best. It is what
it is. I'm gonna go through here and first and foremost, Okay,
I can't recall I can't recall an election election cycle
(01:08):
so void of any real economic proposals, any policy whatsoever.
I really can't. And you know the funny thing is
there are things that you know, they're basically on a
batting tee for both Kamala Harris and Donald Trump to
just smack if they really wanted to, and they're not
(01:32):
doing it. Let's go through some of the things that
Donald Trump new proposals that he put forward during his
economic speech. And again you know he had his uh,
he had a surrogates out. They were on the talkers
this morning, Doug Burnham, I was out there, all right.
Donald Trump won the election with that economic speech yesterday.
(01:56):
No he didn't, Doug, Now he didn't. He didn't move
move the frickin needle. And if he did move the
meat needle, he moved it backwards anyway. Sovereign Wealth Fund.
I got a kick out of this one, okay, because
I've talked about this for some time, the fact that
we don't have sovereign wealth fund here in this country.
(02:17):
Now again, I understand some of the logistics and problems
with the sovereign Wealth fund because the politics that are involved,
but one could be established where the United States government
doesn't have any proxy rights on anything that it's investing in. Again,
(02:39):
it's hard to get politics out of it, but you
see what has been built up in some of the
Scandinavian countries and the UAE. Basically it's the government investing,
not the government. The government taking dollars, tax dollars and
investing them in private concerns. So let's just say if
they had Let's say the federal government actually had taken
(03:01):
the surplus social security dollars back in the day and
actually invested them, invested them in a conservative matter over time,
what they would be worth today. Trump said he wants
to create a sovereign wealth fund to invest in great
national endeavors, including major infrastructure projects such as highways and airports.
(03:27):
That those are not things for sovereign wealth funds. Okay,
that's infrastructure, So you're basically he doesn't even he doesn't
understand what he's talking about. I'm sorry. Sovereign wealth funds
are not made up of bridges and roads and airports.
That's not what they are, unless, of course, it was
(03:48):
a road that you were investing in, or a bridge
where it was making a profit charging tolls for the
sovereign wealth fund. He said this fund would be created
through tariffs and other intelligent things. Through tariffs and other
(04:10):
intelligent things. No details though. As a financial advisor, I
talk to people all the time, and oftentimes people will
they want to start saving money, they want to start
building up wealth, yet they are in debt and serious
(04:33):
I'm talking credit card debt, high interest credit card debt.
And what do I tell those people. So hold on, wait, okay,
before before you start, before you start investing. Okay, you
need to pay down all of this ridiculous high interest
credit card debt because quite frankly, it doesn't make any sense.
(04:55):
Now we're thirty thirty fourth I don't know, give or
take a trillion, that's where we've gotten to this point
in time, give or take a trillion. Thirty four to
thirty five trillion dollars mentioned yesterday, three billion dollars a
day in interest. I would love to have a sovereign
wealth fund too, But but don't you think maybe we
should tackle our national debt first? Don't you think we
(05:20):
should tackle that first? Get cut that down to size.
Now I get it. It's it's low interest debt for
the most part, but it's out of control. Out of control.
They don't, I mean, wouldn't it be better out? They
come out and say, we're going to look to balance
the budget, and then this is what we're going to do.
(05:41):
This is that, this is a plan. We're going to
do this next, you do it in phases. Sovereign wealth
fund tax cuts for domestic producers. Okay, this is this
is interesting because we've had this before. We've had this before. Actually,
a lot of these these tax cuts for domestic producers,
(06:04):
they were eliminated when Donald Trump put his twenty seventeen
reform and lowered corporate taxes. He wants to reduce part
of this. He wants to reduce the corporate tax rate
from twenty one percent, which he got it down to
from thirty five under Obama, to fifteen percent and fifteen
percent for companies that make their products in the United States. Okay,
(06:31):
what does that mean? Means to mean a lot of things.
There's a lot of gray area right there. What counts?
But what what? What does it mean to be made
in America? But again I'm curious. I'm curious because again
(06:53):
it's a lot of ways around that. Is it just
solely made in America? What if you're you manufacture your
your products, you're the pieces that go into your final
product overseas, but then you finally put the entire kit,
cann kaboodle, whatever it may be together here in the
(07:15):
United States. He said here, he said, if you outsource
offshore or replace American workers, you're not eligible for any
of these benefits. In fact, you will pay a very
substantial tariff. When a product comes in from another country,
(07:36):
back and back. Before his tax cuts. Back in twenty seventeen,
companies could deduct nine percent of their domestic production income,
which reduced their tax rates at the time to thirty
one point eight five percent. Again, you find you're going
(07:58):
to be helping companies out, warning companies what they're doing. Anyway,
I don't mind any of that, But again, how do
you go about policing this? What what is the definition
of domestic manufacturing? Because I know what I would do. Okay,
(08:20):
if I was the CEO of X y Z, and
you know, let's say I'm a manufacturer and I get
certain certain pieces of equipment and certain products from here,
there and everywhere, but I put it together here in
the United States, I would I would take advantage of this.
(08:41):
I would. What's the worst thing going to happen? You
get audited and they reject it later on, that's what
everyone is going to do. Again. Under the provision that
was repealed, companies that wouldn't normally be thought of as
manufacturers were able to take advantage of the tax break.
(09:01):
For example, Okay, this was actually cited by I'm going
to make sure I get the name right Fordham School
of Law Economics Professor Rebecca Kaisar Starbucks. Starbucks considered itself
a domestic manufacturer because roasting coffee beans qualified as manufacturing.
(09:31):
There was one case a company that assembled chocolate and
cheese for gift baskets. They actually won. They argued successfully
that this counted as a manufacturing activity and therefore qualified
for the break. So yeah, you're going to have all
sorts of game, the ship and whatnot taking place. Again,
(09:54):
I just think it makes the tax cuts quite frankly
overly complicated. And I want I want simplicity. Okay, I
want simplicity. And again, you know one of the things
that people really kind of fail to understand, and I
have manufacturing manufacturing but like politicians love throwing that word out.
(10:18):
And by the way, in the jobs report, manufacturing employment
declined by twenty four thousand. We have to what we
do here in this country is we always put the
car before the horse. There are certain there's certain things
that we don't train our people to do here in
the United States. Take see interviews with Tim Cook from
(10:39):
Apple and saying we don't have the the people here
in the United States that are capable of doing the
type of work that's involved putting together some of their products.
It's the same problem with the chips and the fact
Taiwan semiconductors. We're going to have to actually if they're
going to actually have to bring workers from Taiwan here
(11:02):
to the United States to you know, to actually work
in the plants and try to train people to do
this type of work. Anyway, Anyway, moving on Elon Musk
as efficiency zar Ah, if he wants to set up
an independent government efficiency panel headed by Elon Musk to
(11:26):
root out waste in the federal government, no details and
how it would function, but it would develop a plan
to root out fraud and improper payments. It's not just
that it's fraud and improper payments, it's what we're spending
(11:48):
money on. Let's let's take a look at commissions that
are put together, especially interviewed about this today, everybody remember
that commission commission to Obama put together after he and
John Bayner couldn't agree on the cuts that were necessary
(12:11):
and taxes back in the day it first started out,
they put together a plan that was rejected, and then
they supposedly put together Remember it was a bunch of
senators that were supposed to come up with something, and
they came up with nothing. Well, it came up, but
they didn't do anything. That Ronald Reagan put together was
(12:35):
called the Grace Commission to do the same thing during
his presidency. You know, we have various different things there,
the Government Accountability Office, whatever it may be. Nothing I
find it hard to believe. I think what you need
to do is just to start eliminating agencies. You have
(12:57):
to hold the Pentagon account of Are you going to
be able to do that? I mean, it'd be nice,
nice if we would again. I think, you know, putting
business people behind this, trying again trying to make the
country a lean, mean fighting machine is a good thing.
But you know, quite frankly, again, you can't come up
(13:18):
with some details on this. How many people are just
sick and tire. You to hear in pie in the
sky type crap. How would you do this? How would
it be done? You know, I was thinking about it.
I don't if you remember that movie, Dave, remember Kevin Klein,
But he he became the well he was a doppelganger
(13:39):
for the President of the United States, and the president
was sick and they hit him in the basement of
the White House and they brought this you know Dave
In who ran a what was it? He was an
employment agency. And it was funny because he brought his
accountant in when he was the fake president, I was
played by Charles Groden, and they were going through the
(14:01):
budget and account was like, how does anybody do their
books this way? It's really not that hard. It's really
not a difficult thing to do. Not difficult, but it's
not easy. What does that mean again? All of the
rent seekers that we have here in this country, all
of the people that live off the government. And I'm
(14:24):
not talking I'm not talking you know welfare, I'm talking
corporate welfare. I'm talking business welfare. I'm talking people that
are tied in Why do you think how do you
think all these politicians get so rich? Why do you
think DC has become DC? And the amount of wealth
that is concentrated in the surrounding areas? These are all
rent seekers. These are people that are just living off
(14:45):
the taxpayers money. And again, you're gonna I would love
to see that torn down. I'm not confident that that's
going to happen again. Interesting, I'd like to see some
sort of plan. He pledged to issue a national emergency
declaration to boost domestic energy supply. He wants to eliminate
(15:08):
bureaucratic curl hurdles holding up new energy projects. I I
don't have any problem with that. I really don't. You're
gonna you're gonna start seeing as soon as you do that, though,
you're gonna start seeing some you know, lawsuits fly saying oh,
(15:28):
you're you're skipping through various different regulations. That's gonna happen again.
I think we really have to move away at this
point in time, really move away from what isn't working.
Really move away from the solar and the windmills. And
let's just say we're going to go nuclear here in
(15:49):
this country. That's it. It's over all this other nonsense
where we're gonna stop. We're gonna stop polluting our country
with solar panels, because that's what it is you think about.
Remember by back in the seventies. I remember, oh, you know,
hug a tree, save a tree. Now we're freaking cutting
them down and putting up stupid solar panels. Anyway, this one,
(16:14):
this one doesn't. It's just honestly, it is dumb. Sorry,
it was dumb. Okay, Oh great, you're gonna ban mortgages
for migrants living in the US illegally. That's great, man.
Do you know how many do you know how many
mortgages are issued to illegals here in the United States?
Speaker 1 (16:35):
Year?
Speaker 2 (16:36):
Five thousand, five thousand. I mean again, you want to
lower housing costs by doing that? It's like, yeah, you're
trying to you know, you're trying to empty a swimming
pool with a spoon. Just one doesn't do a damn thing.
I got another sound bite, bs nonsense for your freaking
maga crowd. Stop pandering, Stop pandering to your stupid magat crowd.
(17:07):
It's not gonna do anything to lower housing goes. And
this is part of the damn problem, okay, is you
know that the fact that both sides do. We have
issues here in this country. We have problems with commercial
real estate. It's a disaster. You you know, you might
want to say, hey, listen, we got this major problem
(17:29):
coming down the pike. This is what we're going to
look to do to convert this. And you have a problem,
you have a couple of problems. You can solve it,
and it makes sense, how difficultes that this is the
best you coming up with bringing prices down. We're gonna
ban mortgages for migrants living illegally in the United States.
(17:50):
His other idea for housing is opening up portions of
federal land for large scale housing construction. Uh again, do
you have any idea how many federal office buildings that
are just sitting empty that we the taxpayers, are paying for?
Why not start there? Why don't you combine your government
(18:13):
efficiency okay, with housing? I don't understand how difficult this is,
not to mention as many as government workers don't even
show up to work any more. We've gone over this
with the key card strokes and everything goes along with that.
Why don't you do that first before you decide, I
(18:34):
don't know, you know, start bulldozing Yosemite or something like that.
I don't get that he wants to rescind the Biden
Inflation Reduction Act. And again, I don't know if you
saw this yesterday, Biden actually came out admitted that shouldn't
(18:55):
have called it the Inflation Reduction Act. It was a
green New Deal. But anyway, we all knew that. Anyway,
anybody would half a brain knew that he's going to
rescind all unspent funds under the Inflation Reduction Act. Well,
you better hurry up, because that Biden spending as fast
as he possibly can not to mention the fact. Good
(19:18):
luck with that. Let me tell you why, because Republicans.
Republicans are just as piggy as Democrats are. Oh they are.
But you don't think that Republicans are feeding at this
Inflation Reduction Act trough. And they're various different districts. Of
(19:40):
course they're because they know, shame, what the hell, there's
several forty billion. I got to get some of that
money for my district. And that's what they're gonna do.
And they've already got projects lined up in their districts,
ready to go, ready to go. And you're going to
tell them, no, luck with that. Good luck with that anyway,
(20:04):
All all said and done here kids, always the other one.
He wants to make America the crypto capital. It was.
It was bad because it do it is what it
is people. Okay, sorry, sorry, you watch you can watch
how you know. Various different pundas, even on Fox, found
(20:26):
themselves a real difficult time trying to get excited. There
was nothing, really, nothing of that much substance here but
that's on both sides, both sides. But with all of
the issues that we have, like I said that these
are things that you could problems that we have as
a nation, things that are coming down the pike, you
can combine some diftain different things coming coming up with
(20:46):
some really good policies and ideas that that aren't going
to cost the taxpayers. Anybody actually saved the taxpayers money
in the long run, and we're not getting any of that.
Watchdog to Wall Street dot com
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski Man.
Speaker 2 (00:16):
That was disappointing, one big, fat economic dud. I don't
really know how else to put it. You know, you
get excited, maybe you know you're looking forward to seeing
a film or television show's coming out, and you watch
it and you're like, oh boy, that's really Yeah. Anyway, Yeah,
(00:41):
I'm gonna tick off all the super Trumpsters out there. Yeah.
Trump's economic speech was lousy at best. It is what
it is. I'm gonna go through here and first and foremost, Okay,
I can't recall I can't recall an election election cycle
(01:08):
so void of any real economic proposals, any policy whatsoever.
I really can't. And you know the funny thing is
there are things that you know, they're basically on a
batting tee for both Kamala Harris and Donald Trump to
just smack if they really wanted to, and they're not
(01:32):
doing it. Let's go through some of the things that
Donald Trump new proposals that he put forward during his
economic speech. And again you know he had his uh,
he had a surrogates out. They were on the talkers
this morning, Doug Burnham, I was out there, all right.
Donald Trump won the election with that economic speech yesterday.
(01:56):
No he didn't, Doug, Now he didn't. He didn't move
move the frickin needle. And if he did move the
meat needle, he moved it backwards anyway. Sovereign Wealth Fund.
I got a kick out of this one, okay, because
I've talked about this for some time, the fact that
we don't have sovereign wealth fund here in this country.
(02:17):
Now again, I understand some of the logistics and problems
with the sovereign Wealth fund because the politics that are involved,
but one could be established where the United States government
doesn't have any proxy rights on anything that it's investing in. Again,
(02:39):
it's hard to get politics out of it, but you
see what has been built up in some of the
Scandinavian countries and the UAE. Basically it's the government investing,
not the government. The government taking dollars, tax dollars and
investing them in private concerns. So let's just say if
they had Let's say the federal government actually had taken
(03:01):
the surplus social security dollars back in the day and
actually invested them, invested them in a conservative matter over time,
what they would be worth today. Trump said he wants
to create a sovereign wealth fund to invest in great
national endeavors, including major infrastructure projects such as highways and airports.
(03:27):
That those are not things for sovereign wealth funds. Okay,
that's infrastructure, So you're basically he doesn't even he doesn't
understand what he's talking about. I'm sorry. Sovereign wealth funds
are not made up of bridges and roads and airports.
That's not what they are, unless, of course, it was
(03:48):
a road that you were investing in, or a bridge
where it was making a profit charging tolls for the
sovereign wealth fund. He said this fund would be created
through tariffs and other intelligent things. Through tariffs and other
(04:10):
intelligent things. No details though. As a financial advisor, I
talk to people all the time, and oftentimes people will
they want to start saving money, they want to start
building up wealth, yet they are in debt and serious
(04:33):
I'm talking credit card debt, high interest credit card debt.
And what do I tell those people. So hold on, wait, okay,
before before you start, before you start investing. Okay, you
need to pay down all of this ridiculous high interest
credit card debt because quite frankly, it doesn't make any sense.
(04:55):
Now we're thirty thirty fourth I don't know, give or
take a trillion, that's where we've gotten to this point
in time, give or take a trillion. Thirty four to
thirty five trillion dollars mentioned yesterday, three billion dollars a
day in interest. I would love to have a sovereign
wealth fund too, But but don't you think maybe we
should tackle our national debt first? Don't you think we
(05:20):
should tackle that first? Get cut that down to size.
Now I get it. It's it's low interest debt for
the most part, but it's out of control. Out of control.
They don't, I mean, wouldn't it be better out? They
come out and say, we're going to look to balance
the budget, and then this is what we're going to do.
(05:41):
This is that, this is a plan. We're going to
do this next, you do it in phases. Sovereign wealth
fund tax cuts for domestic producers. Okay, this is this
is interesting because we've had this before. We've had this before. Actually,
a lot of these these tax cuts for domestic producers,
(06:04):
they were eliminated when Donald Trump put his twenty seventeen
reform and lowered corporate taxes. He wants to reduce part
of this. He wants to reduce the corporate tax rate
from twenty one percent, which he got it down to
from thirty five under Obama, to fifteen percent and fifteen
percent for companies that make their products in the United States. Okay,
(06:31):
what does that mean? Means to mean a lot of things.
There's a lot of gray area right there. What counts?
But what what? What does it mean to be made
in America? But again I'm curious. I'm curious because again
(06:53):
it's a lot of ways around that. Is it just
solely made in America? What if you're you manufacture your
your products, you're the pieces that go into your final
product overseas, but then you finally put the entire kit,
cann kaboodle, whatever it may be together here in the
(07:15):
United States. He said here, he said, if you outsource
offshore or replace American workers, you're not eligible for any
of these benefits. In fact, you will pay a very
substantial tariff. When a product comes in from another country,
(07:36):
back and back. Before his tax cuts. Back in twenty seventeen,
companies could deduct nine percent of their domestic production income,
which reduced their tax rates at the time to thirty
one point eight five percent. Again, you find you're going
(07:58):
to be helping companies out, warning companies what they're doing. Anyway,
I don't mind any of that, But again, how do
you go about policing this? What what is the definition
of domestic manufacturing? Because I know what I would do. Okay,
(08:20):
if I was the CEO of X y Z, and
you know, let's say I'm a manufacturer and I get
certain certain pieces of equipment and certain products from here,
there and everywhere, but I put it together here in
the United States, I would I would take advantage of this.
(08:41):
I would. What's the worst thing going to happen? You
get audited and they reject it later on, that's what
everyone is going to do. Again. Under the provision that
was repealed, companies that wouldn't normally be thought of as
manufacturers were able to take advantage of the tax break.
(09:01):
For example, Okay, this was actually cited by I'm going
to make sure I get the name right Fordham School
of Law Economics Professor Rebecca Kaisar Starbucks. Starbucks considered itself
a domestic manufacturer because roasting coffee beans qualified as manufacturing.
(09:31):
There was one case a company that assembled chocolate and
cheese for gift baskets. They actually won. They argued successfully
that this counted as a manufacturing activity and therefore qualified
for the break. So yeah, you're going to have all
sorts of game, the ship and whatnot taking place. Again,
(09:54):
I just think it makes the tax cuts quite frankly
overly complicated. And I want I want simplicity. Okay, I
want simplicity. And again, you know one of the things
that people really kind of fail to understand, and I
have manufacturing manufacturing but like politicians love throwing that word out.
(10:18):
And by the way, in the jobs report, manufacturing employment
declined by twenty four thousand. We have to what we
do here in this country is we always put the
car before the horse. There are certain there's certain things
that we don't train our people to do here in
the United States. Take see interviews with Tim Cook from
(10:39):
Apple and saying we don't have the the people here
in the United States that are capable of doing the
type of work that's involved putting together some of their products.
It's the same problem with the chips and the fact
Taiwan semiconductors. We're going to have to actually if they're
going to actually have to bring workers from Taiwan here
(11:02):
to the United States to you know, to actually work
in the plants and try to train people to do
this type of work. Anyway, Anyway, moving on Elon Musk
as efficiency zar Ah, if he wants to set up
an independent government efficiency panel headed by Elon Musk to
(11:26):
root out waste in the federal government, no details and
how it would function, but it would develop a plan
to root out fraud and improper payments. It's not just
that it's fraud and improper payments, it's what we're spending
(11:48):
money on. Let's let's take a look at commissions that
are put together, especially interviewed about this today, everybody remember
that commission commission to Obama put together after he and
John Bayner couldn't agree on the cuts that were necessary
(12:11):
and taxes back in the day it first started out,
they put together a plan that was rejected, and then
they supposedly put together Remember it was a bunch of
senators that were supposed to come up with something, and
they came up with nothing. Well, it came up, but
they didn't do anything. That Ronald Reagan put together was
(12:35):
called the Grace Commission to do the same thing during
his presidency. You know, we have various different things there,
the Government Accountability Office, whatever it may be. Nothing I
find it hard to believe. I think what you need
to do is just to start eliminating agencies. You have
(12:57):
to hold the Pentagon account of Are you going to
be able to do that? I mean, it'd be nice,
nice if we would again. I think, you know, putting
business people behind this, trying again trying to make the
country a lean, mean fighting machine is a good thing.
But you know, quite frankly, again, you can't come up
(13:18):
with some details on this. How many people are just
sick and tire. You to hear in pie in the
sky type crap. How would you do this? How would
it be done? You know, I was thinking about it.
I don't if you remember that movie, Dave, remember Kevin Klein,
But he he became the well he was a doppelganger
(13:39):
for the President of the United States, and the president
was sick and they hit him in the basement of
the White House and they brought this you know Dave
In who ran a what was it? He was an
employment agency. And it was funny because he brought his
accountant in when he was the fake president, I was
played by Charles Groden, and they were going through the
(14:01):
budget and account was like, how does anybody do their
books this way? It's really not that hard. It's really
not a difficult thing to do. Not difficult, but it's
not easy. What does that mean again? All of the
rent seekers that we have here in this country, all
of the people that live off the government. And I'm
(14:24):
not talking I'm not talking you know welfare, I'm talking
corporate welfare. I'm talking business welfare. I'm talking people that
are tied in Why do you think how do you
think all these politicians get so rich? Why do you
think DC has become DC? And the amount of wealth
that is concentrated in the surrounding areas? These are all
rent seekers. These are people that are just living off
(14:45):
the taxpayers money. And again, you're gonna I would love
to see that torn down. I'm not confident that that's
going to happen again. Interesting, I'd like to see some
sort of plan. He pledged to issue a national emergency
declaration to boost domestic energy supply. He wants to eliminate
(15:08):
bureaucratic curl hurdles holding up new energy projects. I I
don't have any problem with that. I really don't. You're
gonna you're gonna start seeing as soon as you do that, though,
you're gonna start seeing some you know, lawsuits fly saying oh,
(15:28):
you're you're skipping through various different regulations. That's gonna happen again.
I think we really have to move away at this
point in time, really move away from what isn't working.
Really move away from the solar and the windmills. And
let's just say we're going to go nuclear here in
(15:49):
this country. That's it. It's over all this other nonsense
where we're gonna stop. We're gonna stop polluting our country
with solar panels, because that's what it is you think about.
Remember by back in the seventies. I remember, oh, you know,
hug a tree, save a tree. Now we're freaking cutting
them down and putting up stupid solar panels. Anyway, this one,
(16:14):
this one doesn't. It's just honestly, it is dumb. Sorry,
it was dumb. Okay, Oh great, you're gonna ban mortgages
for migrants living in the US illegally. That's great, man.
Do you know how many do you know how many
mortgages are issued to illegals here in the United States?
Speaker 1 (16:35):
Year?
Speaker 2 (16:36):
Five thousand, five thousand. I mean again, you want to
lower housing costs by doing that? It's like, yeah, you're
trying to you know, you're trying to empty a swimming
pool with a spoon. Just one doesn't do a damn thing.
I got another sound bite, bs nonsense for your freaking
maga crowd. Stop pandering, Stop pandering to your stupid magat crowd.
(17:07):
It's not gonna do anything to lower housing goes. And
this is part of the damn problem, okay, is you
know that the fact that both sides do. We have
issues here in this country. We have problems with commercial
real estate. It's a disaster. You you know, you might
want to say, hey, listen, we got this major problem
(17:29):
coming down the pike. This is what we're going to
look to do to convert this. And you have a problem,
you have a couple of problems. You can solve it,
and it makes sense, how difficultes that this is the
best you coming up with bringing prices down. We're gonna
ban mortgages for migrants living illegally in the United States.
(17:50):
His other idea for housing is opening up portions of
federal land for large scale housing construction. Uh again, do
you have any idea how many federal office buildings that
are just sitting empty that we the taxpayers, are paying for?
Why not start there? Why don't you combine your government
(18:13):
efficiency okay, with housing? I don't understand how difficult this is,
not to mention as many as government workers don't even
show up to work any more. We've gone over this
with the key card strokes and everything goes along with that.
Why don't you do that first before you decide, I
(18:34):
don't know, you know, start bulldozing Yosemite or something like that.
I don't get that he wants to rescind the Biden
Inflation Reduction Act. And again, I don't know if you
saw this yesterday, Biden actually came out admitted that shouldn't
(18:55):
have called it the Inflation Reduction Act. It was a
green New Deal. But anyway, we all knew that. Anyway,
anybody would half a brain knew that he's going to
rescind all unspent funds under the Inflation Reduction Act. Well,
you better hurry up, because that Biden spending as fast
as he possibly can not to mention the fact. Good
(19:18):
luck with that. Let me tell you why, because Republicans.
Republicans are just as piggy as Democrats are. Oh they are.
But you don't think that Republicans are feeding at this
Inflation Reduction Act trough. And they're various different districts. Of
(19:40):
course they're because they know, shame, what the hell, there's
several forty billion. I got to get some of that
money for my district. And that's what they're gonna do.
And they've already got projects lined up in their districts,
ready to go, ready to go. And you're going to
tell them, no, luck with that. Good luck with that anyway,
(20:04):
All all said and done here kids, always the other one.
He wants to make America the crypto capital. It was.
It was bad because it do it is what it
is people. Okay, sorry, sorry, you watch you can watch
how you know. Various different pundas, even on Fox, found
(20:26):
themselves a real difficult time trying to get excited. There
was nothing, really, nothing of that much substance here but
that's on both sides, both sides. But with all of
the issues that we have, like I said that these
are things that you could problems that we have as
a nation, things that are coming down the pike, you
can combine some diftain different things coming coming up with
(20:46):
some really good policies and ideas that that aren't going
to cost the taxpayers. Anybody actually saved the taxpayers money
in the long run, and we're not getting any of that.
Watchdog to Wall Street dot com
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