Episode Transcript
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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 that we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
So many things happening over the first few weeks of
this presidency. I equated it out long ago. It's almost
having been like Christmas every single day. However, I got
to offer up a word of caution. I'm sure, I'm
sure that Trump is aware of this, but he really
needs to be very scared of Republicans. Actually, got to
(00:41):
be scared of Republicans. Don't worry about the Democrats. They're
flailing around all over the place, making fools of themselves
with their stupid rallies and their stupid songs and making
you know, absolute asses out of themselves on TV. Well,
I'm telling you right now, behind the scenes, Republicans, Republicans
(01:04):
are working hard to dismantle MAGA, dismantle the Trump administration,
dismantle what Doge and Elon Musk are doing. I want
to take it back in time a little bit. This
is back in the Obama. Obama you know, just went
in and the whole Tea Party movement started up and
(01:26):
it was big rally, big rally in southwest Florida. There
was thousands of people there and I was invited to
speak at the Tea Party and I went off. I said,
I'm not going to criticize Obama. I'm not going to
criticize Democrats. I'm going to criticize Republicans. Democrats at least,
you know they're crazy ideas. At least they follow through
(01:46):
and what they're going to do. Republicans will say one
thing and do something completely different. They lie, they lie again.
I wrote a column about this as well, entitled you
might be a Redneck. I was kind of like, you know,
you might be a you know, Republican if you know,
you promise this or you do something else. Don't have
(02:07):
a lot of true conservatives and for years again I
left the Republican Party a long time ago. True conservatives
they call them Republicans. And there's the country Club blue Blood, uh,
you know, Judge Smalls, doctor Beeper from Caddyshack, Republican crowd.
(02:27):
And it's interesting. You get a lot of them from
Texas too. You're gonna start You're gonna start seeing more
and more Republicans caught up in US AID deals and
and basically, oh, there's a.
Speaker 1 (02:40):
Lot of good going on over there. I can't make
sure that.
Speaker 2 (02:43):
And then to make sure that there's millions and millions
of dollars funneling their way in some way shape, matter
of form a. Many Shales had a piece in National
View and basically talking about, you know, all of the
things that Trump has is doing right now and pushing
for now getting rid of the income tax, going towards
(03:05):
a consumption tax. I mean, you remember guys like Lamar Alexander,
Bill Bennett. They wanted to get rid of the Department
of Education, and I mean Bill Bennett was in charge
of it. He tried to dismantle the entire thing. And
you know what we got. What we got is she
likes to call it the uh, you know, the the
accell A Quarter, the Accella Quarter class. You know the
(03:28):
people that take you know, the Excella, the Amtrak train,
you know all that that area go Boston, New York, Philadelphia,
d C. Okay, that's the Eccella Quarter. Those are the
policies that George H. W. Bush, Bill Clinton, George W.
Bush very very similar policies again you can go back,
(03:54):
and you can. You can take a look at one
of the Bush tax cuts, and I even forgot how
small these were. One point three five billion. That was
the Bush tax cuts, largest since Reagan. He did reduce
the top margin over rate to thirty five percent. Again
(04:21):
Reagan had it at twenty eight twenty eight. I remember
George H. W. Bush had read my lips, no new taxes.
Now he raised taxes because of our adventure and Iraq,
and you know Bill Clinton as well. George W. Bush
(04:41):
financial crisis. What did he do? Came a socialist, sorry,
bailing every bailing out whatever, everybody believing every but you
get a bail out, you get a bail out, You
get a bail is like the Oprah Winfrey show, automakers,
you get a bailout, AIG insurance. But if everybody gets
a bail out. And again we were told to bend over,
(05:06):
grab our ankles, okay, and get smacked on the ass
and tell us how awesome this all was. And they
were saving the world, right, maloney, No, you just what
you need to do is let the market clear, and
nobody lost their job. Executives got richer, people got thoroughly
disgusted and rightfully so. Remember Occupy Wall Street, Remember that
(05:28):
that that whole movement down there. Those kids weren't wrong
in their anger, they weren't. I mean, the thing got
usurped by a bunch of socialists, not knowing that what
was done was basically socialism in regards to handling the
banks at that point in time. Again, you know, George W. Bush,
(05:50):
let's look at you know, No Child Left Behind is
education bill? Uh yeah, how did how did that work?
And then again you know, he tried to reform social security. Yeah,
spending too much political capital in Iraq at the time.
(06:13):
You know, Joe Biden, Joe Biden come and I thought
Joe Biden was going to be basically the excella quarter
president as well, kind of you know, keep the keep
the system going, you know, keep the nice system going,
you know, between Democrats and Republicans. And now he went
and he was controlled by the Obama the far left crowd,
and uh, you know, went in that direction. And here
(06:37):
we are today. Here we are today in a situation
where classic conservative principles are being pushed for and put
forward and they're being called radical, radical, you know, outside
outside the usual rhino nonsense. Yeah maybe, but that's again.
(07:00):
These these are all things that used to be on
the conservative wish list. Again. Don't worry about the Dems.
They're they're making fools out of themselves. Uh, you know,
worry about the Republicans behind your back. But again, I
think he knows that. Watch dog on Wall street dot
(07:21):
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