July 30, 2025 • 30 mins
Sean opens with shocking new revelations about the Biden administration’s border deception and Donald Trump’s booming economic wins. Hannity outlines the unprecedented $12 trillion in committed manufacturing investments, the return of energy dominance, and the largest tax cut in American history. Listeners also hear from callers frustrated with left-wing media bias and the surge in woke ideologies. Plus, a tribute to hard-working Americans making the country great again.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
All right, thank you Scott Shannon, and thanks to all
of you for being with us. Right down our toll
free telephone number if you want to be a part
of the program. Just breaking as we come on the air,
Kamala Harris will not be running for California governor. We
will get into that. Cash Betel has now found thousands
of sensitive Trump Russia probe documents inside a burn bag
(00:24):
in a secret room with the FBI. Whoop the daisy's
smoking guns. I have it on good authority. That is
likely why dam Bongino put out that cryptic tweet or
ex post this weekend saying that he'll never be the
same again seeing what he has seen, which is the
Grand Conspiracy and how deep state actors have literally subverted
(00:50):
our very own government. We'll get to that. We have
great economic news, and then we have a chairman of
the Federal Reserve that is absolutely doing everything in his
power to hold back what is a strong, thriving economy.
Do you realize the US economy grew at a three
(01:11):
percent rate in quarter two? Oh? Always better than expected,
that's what they always is. Better than expected, better than
the experts anticipated. And all of this, you know, would
warrant a significant cut in interest rates. I mean this one,
this this one powerful position which is appointed and you
(01:33):
can make the point Donald Trump appointed him. But he's
doing a horrible job. And that is Jerome Powell. He
is single handedly keeping interest rates artificially high and that
is having an impact on the economy. He's he'll be
out in May, if not sooner, we'll see. I mean,
any honor frankly knows he's not wanted in that position,
(01:56):
but he would leave and uh, it is beyond frustrating.
And I'll tell you he's getting hurt the most by this.
People that would like to get into the housing market.
It is interest rates are so cost prohibitive for people.
New home buyers, first time home buyers. They're not they're
not able to get or afford that that first mortgage
(02:18):
because interest rates are so high. That means a lot
of young people are shut out. Sales of pre existing homes.
They are going to remain stagnant as long as interest
rates remain artificially unfairly high, and that means new home
construction is also going to be hit because there's not
going to be a need or a desire because people
(02:38):
are not going to be buying new homes or or
or pre existing homes. Nobody's going to give up a
three four percent thirty year fixed rate mortgage and trade
it in for a seven seven and a half percent
thirty year fixed rate mortgage, because that's thousands of dollars
more a month. They're not going to do it. And
it's beyond frustrating. By the way, Marxist mum Don is
(03:00):
now claiming that his past comments about defunding the police
and other comments about the police, which we'll get into
a great specificity, they were just made out of frustration
just four years ago. Oh, that's the real reason. So
there's a lot happening here. Now. We have one person,
(03:24):
and I believe this is rooted, and this is my theory.
I don't know what's in the guy's heart or mind,
but I think that Jerown Powell is allowing the power
of his position to now greatly negatively impact the economy
by keeping interest rates artificially high. We got incredible news today,
(03:45):
incredible news today, and that's why the announcement earlier that
he was not going to lower interest rates is so
frustrating on every level. I think that's probably the reason
why this stock market didn't react to the economic news.
The US economy grew at a much stronger than expected
whenever Donald Trump was successful, oh stronger than expected pace
(04:09):
in the second quarter, powered by a turnaround in the
trade balance, renewed consumer strength. Gross domestic product, which is
a sum of goods and services activity across the sprawling
US economy, jumped three percent for the month of April
through for the period April through June, meaning the second quarter,
according to figures adjusted for inflation, and that top the
(04:32):
Dow Jones had only estimated two point three percent growth
of the second quarter to help reverse a decline of
zero point five percent for the first quarter, which you
know that was the Biden Harris economy. Financial markets, I
think have not reacted because they knew that the Fed
was unlikely to cut interest rates, and once they once
(04:52):
interest rates come down, I would say today would have
been the perfect time for a full basis point reduction.
If that happened, we would now be in the swing
of things, and it would reflect the reality of Donald
Trump and what he's doing with the economy. We spent
you know, look at we now have over twelve trillion dollars.
(05:17):
Howard Lutnek puts the number closer to fifteen trillion in
committed manufacturing investments in this country. We have never in
our history had anything like this when you factor in
the seven hundred and fifty billion dollars commitment by the
EU in terms of purchasing energy, which by the way,
(05:39):
has the added impact and effect of ending the funding
of Western Europe for Putin's war machine. I mean, you
can't even factory in how big a deal it's going
to be once America gets its energy infrastructure up and
running based on the deregulation of President Trump. Now you
can add to that a number of other factors. There's
(06:01):
twelve to fifteen trillion dollars. Whatever the money the actual
number is is never happened before. This is committed manufacturing
moneies that are going to be spent in America. We
have now have commitments for automobile manufacturing by numerous manufacturers.
They're moving their plants to America, They're moving their facilities
(06:22):
to America. That's going to be high paying career jobs
for many Americans. We also now are committed to building
out pharmaceutical manufacturing this country, so we're not dependent on
foreign nations. That's another more high paying career jobs for Americans.
Even foreign pharmaceutical companies like AstraZeneca, they're going to be
(06:44):
building out manufacturing facilities here. Rolls Royce they're going to
be manufacturing some of their products here. Foreign foreign automakers,
they're going to be manufacturing their automobiles here to avoid
the tariffs that President Trump otherwise would we be putting
in place. Then we've got rare earths and the deal
(07:05):
that was made to mine in this country, something we
haven't done in decades and decades because of this adherence
to this environmental radicalism that is critical to manufacturing defense
equipment and critical to automotive manufacturing, including magnets, et cetera.
But if you put all of this together, the twelve
(07:26):
to fifteen trillion, whatever the amount is, from countries and companies,
you put together the incalculable impact on the economy by
becoming energy dominant, knowing that oil always has been and
will remain in energy. Oil, gas and coal remain the
lifeblood of the world's economy, and we are more than
(07:48):
more than energy independent. That happened in Donald Trump's first term.
Now the goal is energy dominance. This trade deal with
THEEU is also very very critical because they're going to
now purchase a lot of their energy that they need
for their economies from US, on top of other committed
investments that they've made over six hundred billion dollars. Then
(08:09):
the look of the trade deal with Japan and Vietnam
and Indonesia and the European Union and Great Britain and
Australia now will import American beef, and the pending trade
deal with China, and you know, then you add to
that the largest tax cut in American history. Now, somebody's
(08:30):
always believed in supply side economics, that has been proven
over and over again. When you cut taxes, you end
up creating more revenues for the federal government. Reagan dropped
the top marginal rate from seventy to twenty eight percent.
Revenues to the federal government didn't go down, they doubled.
It created twenty one million new jobs, the longest period
(08:50):
of peacetime economic growth and history. I told you yesterday
one of the big investment banks is now predicting that
these are going to be boom times financial in America.
The only thing holding this back at all, the only
sector of the economy that is getting hurt is the
housing market, and that's being hurt specifically by one person,
(09:12):
one man that has an animist and an agenda that
is contrary to President Trump, and that is the FED
Chair to her own Powell. I mean, if they could
find a reason to fire him, I think he deserves
to be fired. He's not up to the job if
he had any honor. Knowing that he's disliked to the
extent that he is, and his policies are that out
of sync with a duly elected president, he should resign,
(09:34):
get out of the way, and let President Trump appoint
somebody that is more in sync with getting interest rates
to a level that is more aligned with where the
rest of the world happens to be. But the largest
tax cut in history, then no tax on tips. In overtime,
you're going to have and more job opportunities than Americans
have ever ever had at one given time. Considering the
(09:57):
manufacturing dollars committed, I mean, I don't see how the
economy cannot prosper at a level maybe we've never seen before. Foundationally,
everything is there now. You always have to factor in
the possibility that something can happen that is unforeseen I mean,
we could have another God forbid nine to eleven. You
(10:17):
could have another COVID, you could have you know, all
sorts of unpredictable things can arise that could impact the
economy in negative ways. But putting all of those unknowns aside,
assuming there isn't something as severe as those scenarios, I
just have never seen an opportunity like this. This EU
(10:40):
trade deal with the President ushers in a huge opportunity.
There's a great story even in USA today for blue
collar workers. I've been listening to Mike Row and I've
read this article and I've referenced it many times on
this program. The next generation of millionaires are going to
be blue collar workers and tradesmen because they're going to
(11:01):
be in such high demand, and the workforce is going
to change. It's going to be altered, and it's going
to be altered because of technology. That technology is artificial intelligence,
and America is going to be on the cutting edge
of providing all the energy that is needed for all
of that. But this trade deal with the European Union
includes tariffs on US imports and significant European Union investment
(11:24):
in American industries, and the deal aims to boost the
US economy, create jobs, and add to that in the
one big beautiful bill that Democrats constantly try to demonize,
there is what's called bonus depreciation for manufacturers. In other words,
if you build out your facilities in a year, you
(11:46):
get to write off the entire project that year. Usually
you get to write it off over a series over
a period of years. Well, that's going to cause a
lot of people to to build those facilities that much faster,
meaning that the economy will recover that much faster. You know,
(12:06):
there's a massive shift that is happening here. You know
this is you know, all of these trade deals. Nobody
believed that Donald Trump's trade policy would be this successful,
and people are now even saying it now. There are
some Republicans that want, for example, to give stimulus checks.
I know Josh Hawley's looking for a six hundred dollars check.
(12:29):
I would say maybe if you, as long as some
of the money goes towards paying down the debt, I
would be fine with that. I think that's similarly, it's
a shot in the arm. It's like a shot of adrenaline.
It's a one time thing, but I think it would
be pretty good ADP came out with their unemployment report
and it shows you know that the Labor Department's official
(12:52):
numbers for the last months. Last month, they actually claim
the economy lost thirty three thousand jobs. Well, ADP is
reporting that the economy added one hundred and five thousand jobs.
But here's the best part of the report. With an
annualized wage gain of four point four percent. And by
the way, this three percent growth in quarter two is
(13:15):
larger than any one quarter that Joe Biden and Kamala
Harris ever had economic experts. The US economy grew at
a much stronger than expected pace gross domestic product. I
go through the whole story. The anti Trump story has
been that we're going to have a recession or depression
because of the terraces. And what has resulted is one
(13:35):
trade deal after another, and now it would probably be
culminating with the final trade deal with China. And this
is just opportunities for Americans to prosper. And it's been
a long time in coming. By the way, President Trump
earlier today floating the idea reported by justinnews dot com
(13:57):
that former Speaker of the House Nancy Polo should be
the subject of an insider trading investigation as a ban
on congressional stock trading advances in the Senate. He said
Nancy Pelosi should be investigated. She has the highest return
of anybody practically in the history of Wall Street. How
did that happen? He knows exactly what's going to happen.
(14:19):
She buys stock and then the stock goes up after
the announcement's made. I think it's certainly worthy of an investigation. Now.
Probably the biggest news of the day is that the
FBI Director Cash Pttel found a trove of sensitive documents
related to the origins of Russia. Russia, Russia, apparently buried
(14:39):
in multiple burn bags. I'll explain with that as in
a minute in a secret room inside the FBI. One
of the documents THEI officials allegedly found in the burn
bag was the classified annex to former Special Counsel John
Durham's final report, which includes the underlying intelligence that he reviewed.
Uh oh, if you're Rennan, Clapper, Komi, or others, I
(15:04):
hope you have a good attorney. You may need one,
you know. The choppy performance in the housing market continued
in June. In case you're interested, and this was my point,
housing will always be a lagging indicators as long as
your own. Powell refuses to lower interest rates that are
are so artificially high that he's now hurting the American economy,
(15:25):
but more importantly, he's hurting American people. And we're paying
massive trillions of dollars more in interest payments than we
would otherwise ever have to pay. And most other countries
around the world, they have significantly reduced their interest rates
and they've gotten in line with the current reality of
(15:48):
the economy. And what's so frustrating about all of this
is you get, you know, the US economy three percent
rate of growth in quarter two, on top of everything
that the President has done in terms of trade deals
and what the President is doing with energy, what the
President has done to secure you know, twelve to fifteen
trillion dollars in new commitments. Clearly Powell doesn't understand the
(16:13):
power of the largest tax cut in history. Clearly doesn't
seem to care about working men and women with these
artificially high interest rates. You know, if you look at
the choppy performance in the housing market, it will remain
that way. And they continued in June. Pending home sales
fell zero point eight percent month over month. It will
be the lagging indicator because nobody's given up a two
(16:37):
point eight percent or three percent, a three point five
or four percent thirty year fixed rate mortgage for a
seven and a half percent one. Nobody's going to do that.
So sale of pre existing homes is stemid. New home
construction will be steymid You know, year over year sales
are down zero point three percent, the seventh straight monthly
(16:59):
decline and annual growth. And I blame one person, and
that's Jerome Powell. Thank you, Jerome Powell. The supply of
existing homes for sale has now reached an almost five
year high as more people list their homes for sale,
but the extra inventory is not pushing prices down. People
don't want to, you know. That's for most people, their
biggest investment. They're not just going to give away their home.
(17:20):
A Federal Reserve just refuses once again the lower rates.
To me, it's personal. I think Jerome Powell hates Donald Trump,
and you had a divided Federal Reserve making this vote
earlier today to keep their benchmark rates unchanged, despite a
descent from two of their top officials, despite public criticism
(17:42):
from President Trump himself. The Federal Open Market Committee, the
group that decides the cost of borrowing money, you know,
they voted to hold interest rates that a range between
four point two four five percent and four point five percent.
That means the benchmark rate for determining the rates of
credit cards, mortgages, auto loans, bank loans is going to
(18:03):
stay the same. The decision met strong opposition from FED
Governors Michelle Bauman and Christopher Waller. Both of them argued
that inflation is under control the labor market could start
weakening soon. It is the first time since nineteen ninety
three that multiple governors cast no votes on a rate decision.
(18:24):
Although swings and net exports continue to impact data, recent
indicators suggests the growth of the economic activity moderated in
the first half of the year. The document, I mean,
every sign, every piece of the puzzle is put together
for you know, robust economic growth, you know, in the
(18:45):
near and distant future. And that's the frustrating part. By
the way, Axio says today, yes, Trump wins the trade battle,
and Trump is winning the global trade battle with a
series of deals, and he says, and they go on
to say it matters because the question now is whether
(19:06):
these victories high level, roughly sketched agreements among several major
economies will translate to winning the trade war. The big
picture is the interest is in obvious. Yes, all of
these countries need access to America American markets and New
York posted an interesting piece on this, how Trump is
bursting the bureaucrats DC bubble, one agency at a time,
(19:32):
and you know, we'll see what happens. Just frustrating young
people want to get their first home. They're just they're
priced out of the market by artificially high interest rates.
People that want to sell pre existing homes priced out
of selling their current home because of high interest rates.
You know, contractors, builders, they are priced out of of
(19:54):
building and creating high paying career jobs. Now on to
another issue. So the FBI director, now this is a
big piece on foxnews dot com. Cash Battel has found
thousands of sensitive Trump Russia probe documents inside burn bags
in a secret room of the FBI. Anyway, apparently cash
(20:16):
Battel found a trove of the sensitive documents related to
the origins of the Trump Russia probe buried in multiple
burn bags. It's in a secret room inside the bureau
of the FBI. One of the documents FBI officials allegedly
found in the burn bag was the classified annex to
former Special Counsel John Durham's final report, which includes the
(20:40):
underlying intelligence that he reviewed. The declassification of the classified
annex is being done in close coordination with the CIA
Director John Ratcliffe, Cash Bettel himself, Director of National Intelligence
Tulca Gabbert, Attorney General Pam Bondi, National Security Agency Director
William Hartman, Director Patel. In an interview in June with
(21:03):
Joe Rogan, revealed that he found a room full of
documents and computer hard drives that no one had ever
seen or heard of. The declassification annex will be transmitted
to the Senate Judiciary Committee Chairman Chuck Grassley, who ultimately
will release the document to the public, and the sources
exclusively briefed on this, telling Fox News Digital that some
(21:26):
of the contents on the classified annex include the US
intelligence community what they had that they had credible foreign
sources indicating the FBI would play a role in spreading
this pony Russia Russia Russia Trump Russia collusion narrative before
the Bureau ever launched their own controversial Crossfire Hurricane probe.
(21:46):
That's pretty scary. Yet they had intel that this would
all happen. Who's talking to our foreign adversaries or how
are they spying on us one or the other. A
source familiar with the contents told Fox News that while
it may not have been exactly clear in the moment
what the intelligence collection meant, with the benefit of hindsight,
(22:07):
it predicted the FBI's next move with alarming specificity. Ultimately,
the release of declassified annex will lend more credibility to
the assertion that there was a coordinated plan inside our
government to help the Clinton campaign stir up controversy by
falsely connecting Trump to Russia, and the source was granted
(22:28):
anonymity to discuss sensitive intelligence matters that have not yet
been made public. Mere days after this intelligence was collected,
the FBI launched Crossfire Hurricane. It's really hard to see
how Brennan Clapper comy are going to be able to
explain this away. I don't want to raise people's expectations here,
but we've been following this story for an awful long
(22:49):
period of time, and there's no doubt we now know
and we have been able to corroborate through the declassification
that everything that we were port on this program and
on Hannity the TV show is absolutely true. Axios had
I'm sorry. The Epic Times had a really good point
that they made today and they point out what they
(23:10):
believe of the five biggest revelations from the newly he
classified Russia records, and you know, one is the Steele dossier.
How often have you heard Hillary Clinton's bought and paid
for Russian disinformation dossier. John Brennan testified under oath to
Congress that the infamous Steele dossier was not in any
(23:32):
way used as the basis for the Intelligence community assessment
that was done. This is the second assessment, because they
didn't like the first assessment that career rank and file
senior professionals put together and said it didn't happen. But
then the records released this month, CIA director overruled those
who objected to the inclusion of the Steele dossier, and
(23:54):
he apparently said the exact opposite to Congress. That's another
issue that he's going to have to deal with. The
dossier was cited in the main body of the assessment,
and a summary of it was included in the highest
classification version of the dossier that was used to brief
both Trump and Obama. These are the ICA authors. Multiple
(24:15):
senior CIA managers, including two senior leaders of the CIA
Mission Center for Russia, strongly opposed it. CIA's deputy director
for Analysis warned the CIA director that including the dossier
in any form risked undermining the credibility of the entire paper.
(24:35):
Another newly declassified record shows that the committee that a
host of other issues with the presentation preparation of the
intelligence assessment. Again they didn't like the first one. The
judgment violated six analytics standards by failing to properly describe
quality and credibility of underlying sources and not remaining independent
(24:59):
of polytical considerations. You realize what they're saying is that
this whole thing was manufactured and corrupt when you actually
look at the wording of it. The assessment fails to
clarify that the plan was just an email with no date,
no identified sender, no clear recipient, no classification. I mean,
(25:20):
you can't get any more damning. Then they compressed the timeline.
The CIA memo, released earlier this month summarizes the findings.
You know, all of this done to sabotage and incoming president,
and then the Obama administration officials pushed for the ICA
on Russian interference in the US election to be completed
(25:44):
and released by January sixth, twenty seventy. House report states
they rushed the timeline that gave the CIA director an
opportunity to control the narrative and briefings before Congress. It
was a setup, and then they prebunked the Hunter lap
that was to put cinderblocks on the scale of that election.
(26:06):
By the way, nearly six hundred illegal alien criminals that
Canadian officials were supposed to deport they're now on the loose. Biden.
Illegals recently nabbed by Ice include a would be baseball
bat murderer, a child rapist, a met dealer, and a
criminal alien sex offender. We're the Senator Van Hollow when
(26:26):
you need him. Trump has now set a new record
for prosecuting criminal illegals and set a record in June
with more than three thousand felony cases brought against the
illegals whom prosecutors have charged with the illegal entry, meaning
that they were caught sneaking back into the country after
they have been deported and then it goes through. We
(26:47):
have another town hall piece out today, Katie Pavlich wrote this,
how many sex offenders Ice has arrested in just one city,
Houston alone, more than two hundred. You just can't get
any worse than that. I will tell you we're living
in trouble times. By the way, this whole issue of
you know, this war why the woke mob hates Sydney
(27:10):
Sweeney is unbelievable. Out kicks Sidney Sweeney's American Eagle ad
attacked by Good Morning America being compared to Nazi propaganda MSDNC.
Sydney's Sweeney's ad shows an unbridable He's an attractive, younger woman. Fine,
he has quote good jeens. He's doing an ad for
(27:31):
jeans like blue jeans that people wear. It's not any
more complicated than that. By the way, those five people
charged in the viral Cincinnati brawl that you see this
woman being knocked out cold, middle aged woman, unbelievable. And
they had all these people watching this. Nobody but one
(27:51):
person contacted the police. Everybody's there taking their videos. We
have Marxist Mundami back from his honeymoon. He says, oh
all my past comments to scrap the NYPD unit. Yeah,
oh no, that was Those were comments just made out
of frustration. I didn't really mean them when he said
(28:12):
in December of twenty twenty four as a candidate that
he wanted to disband the police department Strategic Response Group,
which is the very group that showed up and shows
up at situations like what happened earlier in the week. Mandani,
by the way, armed with private security guards protecting him,
(28:35):
you know, while he's in this you know, mansion in Uganda,
wherever the hell he was posting in November of twenty twenty,
nature is healing. I just saw a cop crying in
his car, laughing my ass off. We don't need an
investigation to know that the NYPD is quote racist his words,
anti queer, and a major threat to public safety. What
(28:58):
we need is hashtag d fund the NYPD. He wrote
on an ex post OBAMAI, Mam Donnie pledged to disband
this key police unit. Mom Donnie supports no bail laws, defund, dismantle,
want social workers hired instead. A real genius. One has
to wonder will this incident that took place Monday in
(29:22):
New York City have any impact on the race for mayor.
I hate to tell you I don't really think so,
but well, I hope I'm wrong. Listen, at times, in
this dangerous world, there is only one option. If you
want to save your life or your family's life, you
must use lethal force. I hope it never happens to anybody.
(29:42):
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Today
All right, thank you Scott Shannon, and thanks to all
of you for being with us. Right down our toll
free telephone number if you want to be a part
of the program. Just breaking as we come on the air,
Kamala Harris will not be running for California governor. We
will get into that. Cash Betel has now found thousands
of sensitive Trump Russia probe documents inside a burn bag
(00:24):
in a secret room with the FBI. Whoop the daisy's
smoking guns. I have it on good authority. That is
likely why dam Bongino put out that cryptic tweet or
ex post this weekend saying that he'll never be the
same again seeing what he has seen, which is the
Grand Conspiracy and how deep state actors have literally subverted
(00:50):
our very own government. We'll get to that. We have
great economic news, and then we have a chairman of
the Federal Reserve that is absolutely doing everything in his
power to hold back what is a strong, thriving economy.
Do you realize the US economy grew at a three
(01:11):
percent rate in quarter two? Oh? Always better than expected,
that's what they always is. Better than expected, better than
the experts anticipated. And all of this, you know, would
warrant a significant cut in interest rates. I mean this one,
this this one powerful position which is appointed and you
(01:33):
can make the point Donald Trump appointed him. But he's
doing a horrible job. And that is Jerome Powell. He
is single handedly keeping interest rates artificially high and that
is having an impact on the economy. He's he'll be
out in May, if not sooner, we'll see. I mean,
any honor frankly knows he's not wanted in that position,
(01:56):
but he would leave and uh, it is beyond frustrating.
And I'll tell you he's getting hurt the most by this.
People that would like to get into the housing market.
It is interest rates are so cost prohibitive for people.
New home buyers, first time home buyers. They're not they're
not able to get or afford that that first mortgage
(02:18):
because interest rates are so high. That means a lot
of young people are shut out. Sales of pre existing homes.
They are going to remain stagnant as long as interest
rates remain artificially unfairly high, and that means new home
construction is also going to be hit because there's not
going to be a need or a desire because people
(02:38):
are not going to be buying new homes or or
or pre existing homes. Nobody's going to give up a
three four percent thirty year fixed rate mortgage and trade
it in for a seven seven and a half percent
thirty year fixed rate mortgage, because that's thousands of dollars
more a month. They're not going to do it. And
it's beyond frustrating. By the way, Marxist mum Don is
(03:00):
now claiming that his past comments about defunding the police
and other comments about the police, which we'll get into
a great specificity, they were just made out of frustration
just four years ago. Oh, that's the real reason. So
there's a lot happening here. Now. We have one person,
(03:24):
and I believe this is rooted, and this is my theory.
I don't know what's in the guy's heart or mind,
but I think that Jerown Powell is allowing the power
of his position to now greatly negatively impact the economy
by keeping interest rates artificially high. We got incredible news today,
(03:45):
incredible news today, and that's why the announcement earlier that
he was not going to lower interest rates is so
frustrating on every level. I think that's probably the reason
why this stock market didn't react to the economic news.
The US economy grew at a much stronger than expected
whenever Donald Trump was successful, oh stronger than expected pace
(04:09):
in the second quarter, powered by a turnaround in the
trade balance, renewed consumer strength. Gross domestic product, which is
a sum of goods and services activity across the sprawling
US economy, jumped three percent for the month of April
through for the period April through June, meaning the second quarter,
according to figures adjusted for inflation, and that top the
(04:32):
Dow Jones had only estimated two point three percent growth
of the second quarter to help reverse a decline of
zero point five percent for the first quarter, which you
know that was the Biden Harris economy. Financial markets, I
think have not reacted because they knew that the Fed
was unlikely to cut interest rates, and once they once
(04:52):
interest rates come down, I would say today would have
been the perfect time for a full basis point reduction.
If that happened, we would now be in the swing
of things, and it would reflect the reality of Donald
Trump and what he's doing with the economy. We spent
you know, look at we now have over twelve trillion dollars.
(05:17):
Howard Lutnek puts the number closer to fifteen trillion in
committed manufacturing investments in this country. We have never in
our history had anything like this when you factor in
the seven hundred and fifty billion dollars commitment by the
EU in terms of purchasing energy, which by the way,
(05:39):
has the added impact and effect of ending the funding
of Western Europe for Putin's war machine. I mean, you
can't even factory in how big a deal it's going
to be once America gets its energy infrastructure up and
running based on the deregulation of President Trump. Now you
can add to that a number of other factors. There's
(06:01):
twelve to fifteen trillion dollars. Whatever the money the actual
number is is never happened before. This is committed manufacturing
moneies that are going to be spent in America. We
have now have commitments for automobile manufacturing by numerous manufacturers.
They're moving their plants to America, They're moving their facilities
(06:22):
to America. That's going to be high paying career jobs
for many Americans. We also now are committed to building
out pharmaceutical manufacturing this country, so we're not dependent on
foreign nations. That's another more high paying career jobs for Americans.
Even foreign pharmaceutical companies like AstraZeneca, they're going to be
(06:44):
building out manufacturing facilities here. Rolls Royce they're going to
be manufacturing some of their products here. Foreign foreign automakers,
they're going to be manufacturing their automobiles here to avoid
the tariffs that President Trump otherwise would we be putting
in place. Then we've got rare earths and the deal
(07:05):
that was made to mine in this country, something we
haven't done in decades and decades because of this adherence
to this environmental radicalism that is critical to manufacturing defense
equipment and critical to automotive manufacturing, including magnets, et cetera.
But if you put all of this together, the twelve
(07:26):
to fifteen trillion, whatever the amount is, from countries and companies,
you put together the incalculable impact on the economy by
becoming energy dominant, knowing that oil always has been and
will remain in energy. Oil, gas and coal remain the
lifeblood of the world's economy, and we are more than
(07:48):
more than energy independent. That happened in Donald Trump's first term.
Now the goal is energy dominance. This trade deal with
THEEU is also very very critical because they're going to
now purchase a lot of their energy that they need
for their economies from US, on top of other committed
investments that they've made over six hundred billion dollars. Then
(08:09):
the look of the trade deal with Japan and Vietnam
and Indonesia and the European Union and Great Britain and
Australia now will import American beef, and the pending trade
deal with China, and you know, then you add to
that the largest tax cut in American history. Now, somebody's
(08:30):
always believed in supply side economics, that has been proven
over and over again. When you cut taxes, you end
up creating more revenues for the federal government. Reagan dropped
the top marginal rate from seventy to twenty eight percent.
Revenues to the federal government didn't go down, they doubled.
It created twenty one million new jobs, the longest period
(08:50):
of peacetime economic growth and history. I told you yesterday
one of the big investment banks is now predicting that
these are going to be boom times financial in America.
The only thing holding this back at all, the only
sector of the economy that is getting hurt is the
housing market, and that's being hurt specifically by one person,
(09:12):
one man that has an animist and an agenda that
is contrary to President Trump, and that is the FED
Chair to her own Powell. I mean, if they could
find a reason to fire him, I think he deserves
to be fired. He's not up to the job if
he had any honor. Knowing that he's disliked to the
extent that he is, and his policies are that out
of sync with a duly elected president, he should resign,
(09:34):
get out of the way, and let President Trump appoint
somebody that is more in sync with getting interest rates
to a level that is more aligned with where the
rest of the world happens to be. But the largest
tax cut in history, then no tax on tips. In overtime,
you're going to have and more job opportunities than Americans
have ever ever had at one given time. Considering the
(09:57):
manufacturing dollars committed, I mean, I don't see how the
economy cannot prosper at a level maybe we've never seen before. Foundationally,
everything is there now. You always have to factor in
the possibility that something can happen that is unforeseen I mean,
we could have another God forbid nine to eleven. You
(10:17):
could have another COVID, you could have you know, all
sorts of unpredictable things can arise that could impact the
economy in negative ways. But putting all of those unknowns aside,
assuming there isn't something as severe as those scenarios, I
just have never seen an opportunity like this. This EU
(10:40):
trade deal with the President ushers in a huge opportunity.
There's a great story even in USA today for blue
collar workers. I've been listening to Mike Row and I've
read this article and I've referenced it many times on
this program. The next generation of millionaires are going to
be blue collar workers and tradesmen because they're going to
(11:01):
be in such high demand, and the workforce is going
to change. It's going to be altered, and it's going
to be altered because of technology. That technology is artificial intelligence,
and America is going to be on the cutting edge
of providing all the energy that is needed for all
of that. But this trade deal with the European Union
includes tariffs on US imports and significant European Union investment
(11:24):
in American industries, and the deal aims to boost the
US economy, create jobs, and add to that in the
one big beautiful bill that Democrats constantly try to demonize,
there is what's called bonus depreciation for manufacturers. In other words,
if you build out your facilities in a year, you
(11:46):
get to write off the entire project that year. Usually
you get to write it off over a series over
a period of years. Well, that's going to cause a
lot of people to to build those facilities that much faster,
meaning that the economy will recover that much faster. You know,
(12:06):
there's a massive shift that is happening here. You know
this is you know, all of these trade deals. Nobody
believed that Donald Trump's trade policy would be this successful,
and people are now even saying it now. There are
some Republicans that want, for example, to give stimulus checks.
I know Josh Hawley's looking for a six hundred dollars check.
(12:29):
I would say maybe if you, as long as some
of the money goes towards paying down the debt, I
would be fine with that. I think that's similarly, it's
a shot in the arm. It's like a shot of adrenaline.
It's a one time thing, but I think it would
be pretty good ADP came out with their unemployment report
and it shows you know that the Labor Department's official
(12:52):
numbers for the last months. Last month, they actually claim
the economy lost thirty three thousand jobs. Well, ADP is
reporting that the economy added one hundred and five thousand jobs.
But here's the best part of the report. With an
annualized wage gain of four point four percent. And by
the way, this three percent growth in quarter two is
(13:15):
larger than any one quarter that Joe Biden and Kamala
Harris ever had economic experts. The US economy grew at
a much stronger than expected pace gross domestic product. I
go through the whole story. The anti Trump story has
been that we're going to have a recession or depression
because of the terraces. And what has resulted is one
(13:35):
trade deal after another, and now it would probably be
culminating with the final trade deal with China. And this
is just opportunities for Americans to prosper. And it's been
a long time in coming. By the way, President Trump
earlier today floating the idea reported by justinnews dot com
(13:57):
that former Speaker of the House Nancy Polo should be
the subject of an insider trading investigation as a ban
on congressional stock trading advances in the Senate. He said
Nancy Pelosi should be investigated. She has the highest return
of anybody practically in the history of Wall Street. How
did that happen? He knows exactly what's going to happen.
(14:19):
She buys stock and then the stock goes up after
the announcement's made. I think it's certainly worthy of an investigation. Now.
Probably the biggest news of the day is that the
FBI Director Cash Pttel found a trove of sensitive documents
related to the origins of Russia. Russia, Russia, apparently buried
(14:39):
in multiple burn bags. I'll explain with that as in
a minute in a secret room inside the FBI. One
of the documents THEI officials allegedly found in the burn
bag was the classified annex to former Special Counsel John
Durham's final report, which includes the underlying intelligence that he reviewed.
Uh oh, if you're Rennan, Clapper, Komi, or others, I
(15:04):
hope you have a good attorney. You may need one,
you know. The choppy performance in the housing market continued
in June. In case you're interested, and this was my point,
housing will always be a lagging indicators as long as
your own. Powell refuses to lower interest rates that are
are so artificially high that he's now hurting the American economy,
(15:25):
but more importantly, he's hurting American people. And we're paying
massive trillions of dollars more in interest payments than we
would otherwise ever have to pay. And most other countries
around the world, they have significantly reduced their interest rates
and they've gotten in line with the current reality of
(15:48):
the economy. And what's so frustrating about all of this
is you get, you know, the US economy three percent
rate of growth in quarter two, on top of everything
that the President has done in terms of trade deals
and what the President is doing with energy, what the
President has done to secure you know, twelve to fifteen
trillion dollars in new commitments. Clearly Powell doesn't understand the
(16:13):
power of the largest tax cut in history. Clearly doesn't
seem to care about working men and women with these
artificially high interest rates. You know, if you look at
the choppy performance in the housing market, it will remain
that way. And they continued in June. Pending home sales
fell zero point eight percent month over month. It will
be the lagging indicator because nobody's given up a two
(16:37):
point eight percent or three percent, a three point five
or four percent thirty year fixed rate mortgage for a
seven and a half percent one. Nobody's going to do that.
So sale of pre existing homes is stemid. New home
construction will be steymid You know, year over year sales
are down zero point three percent, the seventh straight monthly
(16:59):
decline and annual growth. And I blame one person, and
that's Jerome Powell. Thank you, Jerome Powell. The supply of
existing homes for sale has now reached an almost five
year high as more people list their homes for sale,
but the extra inventory is not pushing prices down. People
don't want to, you know. That's for most people, their
biggest investment. They're not just going to give away their home.
(17:20):
A Federal Reserve just refuses once again the lower rates.
To me, it's personal. I think Jerome Powell hates Donald Trump,
and you had a divided Federal Reserve making this vote
earlier today to keep their benchmark rates unchanged, despite a
descent from two of their top officials, despite public criticism
(17:42):
from President Trump himself. The Federal Open Market Committee, the
group that decides the cost of borrowing money, you know,
they voted to hold interest rates that a range between
four point two four five percent and four point five percent.
That means the benchmark rate for determining the rates of
credit cards, mortgages, auto loans, bank loans is going to
(18:03):
stay the same. The decision met strong opposition from FED
Governors Michelle Bauman and Christopher Waller. Both of them argued
that inflation is under control the labor market could start
weakening soon. It is the first time since nineteen ninety
three that multiple governors cast no votes on a rate decision.
(18:24):
Although swings and net exports continue to impact data, recent
indicators suggests the growth of the economic activity moderated in
the first half of the year. The document, I mean,
every sign, every piece of the puzzle is put together
for you know, robust economic growth, you know, in the
(18:45):
near and distant future. And that's the frustrating part. By
the way, Axio says today, yes, Trump wins the trade battle,
and Trump is winning the global trade battle with a
series of deals, and he says, and they go on
to say it matters because the question now is whether
(19:06):
these victories high level, roughly sketched agreements among several major
economies will translate to winning the trade war. The big
picture is the interest is in obvious. Yes, all of
these countries need access to America American markets and New
York posted an interesting piece on this, how Trump is
bursting the bureaucrats DC bubble, one agency at a time,
(19:32):
and you know, we'll see what happens. Just frustrating young
people want to get their first home. They're just they're
priced out of the market by artificially high interest rates.
People that want to sell pre existing homes priced out
of selling their current home because of high interest rates.
You know, contractors, builders, they are priced out of of
(19:54):
building and creating high paying career jobs. Now on to
another issue. So the FBI director, now this is a
big piece on foxnews dot com. Cash Battel has found
thousands of sensitive Trump Russia probe documents inside burn bags
in a secret room of the FBI. Anyway, apparently cash
(20:16):
Battel found a trove of the sensitive documents related to
the origins of the Trump Russia probe buried in multiple
burn bags. It's in a secret room inside the bureau
of the FBI. One of the documents FBI officials allegedly
found in the burn bag was the classified annex to
former Special Counsel John Durham's final report, which includes the
(20:40):
underlying intelligence that he reviewed. The declassification of the classified
annex is being done in close coordination with the CIA
Director John Ratcliffe, Cash Bettel himself, Director of National Intelligence
Tulca Gabbert, Attorney General Pam Bondi, National Security Agency Director
William Hartman, Director Patel. In an interview in June with
(21:03):
Joe Rogan, revealed that he found a room full of
documents and computer hard drives that no one had ever
seen or heard of. The declassification annex will be transmitted
to the Senate Judiciary Committee Chairman Chuck Grassley, who ultimately
will release the document to the public, and the sources
exclusively briefed on this, telling Fox News Digital that some
(21:26):
of the contents on the classified annex include the US
intelligence community what they had that they had credible foreign
sources indicating the FBI would play a role in spreading
this pony Russia Russia Russia Trump Russia collusion narrative before
the Bureau ever launched their own controversial Crossfire Hurricane probe.
(21:46):
That's pretty scary. Yet they had intel that this would
all happen. Who's talking to our foreign adversaries or how
are they spying on us one or the other. A
source familiar with the contents told Fox News that while
it may not have been exactly clear in the moment
what the intelligence collection meant, with the benefit of hindsight,
(22:07):
it predicted the FBI's next move with alarming specificity. Ultimately,
the release of declassified annex will lend more credibility to
the assertion that there was a coordinated plan inside our
government to help the Clinton campaign stir up controversy by
falsely connecting Trump to Russia, and the source was granted
(22:28):
anonymity to discuss sensitive intelligence matters that have not yet
been made public. Mere days after this intelligence was collected,
the FBI launched Crossfire Hurricane. It's really hard to see
how Brennan Clapper comy are going to be able to
explain this away. I don't want to raise people's expectations here,
but we've been following this story for an awful long
(22:49):
period of time, and there's no doubt we now know
and we have been able to corroborate through the declassification
that everything that we were port on this program and
on Hannity the TV show is absolutely true. Axios had
I'm sorry. The Epic Times had a really good point
that they made today and they point out what they
(23:10):
believe of the five biggest revelations from the newly he
classified Russia records, and you know, one is the Steele dossier.
How often have you heard Hillary Clinton's bought and paid
for Russian disinformation dossier. John Brennan testified under oath to
Congress that the infamous Steele dossier was not in any
(23:32):
way used as the basis for the Intelligence community assessment
that was done. This is the second assessment, because they
didn't like the first assessment that career rank and file
senior professionals put together and said it didn't happen. But
then the records released this month, CIA director overruled those
who objected to the inclusion of the Steele dossier, and
(23:54):
he apparently said the exact opposite to Congress. That's another
issue that he's going to have to deal with. The
dossier was cited in the main body of the assessment,
and a summary of it was included in the highest
classification version of the dossier that was used to brief
both Trump and Obama. These are the ICA authors. Multiple
(24:15):
senior CIA managers, including two senior leaders of the CIA
Mission Center for Russia, strongly opposed it. CIA's deputy director
for Analysis warned the CIA director that including the dossier
in any form risked undermining the credibility of the entire paper.
(24:35):
Another newly declassified record shows that the committee that a
host of other issues with the presentation preparation of the
intelligence assessment. Again they didn't like the first one. The
judgment violated six analytics standards by failing to properly describe
quality and credibility of underlying sources and not remaining independent
(24:59):
of polytical considerations. You realize what they're saying is that
this whole thing was manufactured and corrupt when you actually
look at the wording of it. The assessment fails to
clarify that the plan was just an email with no date,
no identified sender, no clear recipient, no classification. I mean,
(25:20):
you can't get any more damning. Then they compressed the timeline.
The CIA memo, released earlier this month summarizes the findings.
You know, all of this done to sabotage and incoming president,
and then the Obama administration officials pushed for the ICA
on Russian interference in the US election to be completed
(25:44):
and released by January sixth, twenty seventy. House report states
they rushed the timeline that gave the CIA director an
opportunity to control the narrative and briefings before Congress. It
was a setup, and then they prebunked the Hunter lap
that was to put cinderblocks on the scale of that election.
(26:06):
By the way, nearly six hundred illegal alien criminals that
Canadian officials were supposed to deport they're now on the loose. Biden.
Illegals recently nabbed by Ice include a would be baseball
bat murderer, a child rapist, a met dealer, and a
criminal alien sex offender. We're the Senator Van Hollow when
(26:26):
you need him. Trump has now set a new record
for prosecuting criminal illegals and set a record in June
with more than three thousand felony cases brought against the
illegals whom prosecutors have charged with the illegal entry, meaning
that they were caught sneaking back into the country after
they have been deported and then it goes through. We
(26:47):
have another town hall piece out today, Katie Pavlich wrote this,
how many sex offenders Ice has arrested in just one city,
Houston alone, more than two hundred. You just can't get
any worse than that. I will tell you we're living
in trouble times. By the way, this whole issue of
you know, this war why the woke mob hates Sydney
(27:10):
Sweeney is unbelievable. Out kicks Sidney Sweeney's American Eagle ad
attacked by Good Morning America being compared to Nazi propaganda MSDNC.
Sydney's Sweeney's ad shows an unbridable He's an attractive, younger woman. Fine,
he has quote good jeens. He's doing an ad for
(27:31):
jeans like blue jeans that people wear. It's not any
more complicated than that. By the way, those five people
charged in the viral Cincinnati brawl that you see this
woman being knocked out cold, middle aged woman, unbelievable. And
they had all these people watching this. Nobody but one
(27:51):
person contacted the police. Everybody's there taking their videos. We
have Marxist Mundami back from his honeymoon. He says, oh
all my past comments to scrap the NYPD unit. Yeah,
oh no, that was Those were comments just made out
of frustration. I didn't really mean them when he said
(28:12):
in December of twenty twenty four as a candidate that
he wanted to disband the police department Strategic Response Group,
which is the very group that showed up and shows
up at situations like what happened earlier in the week. Mandani,
by the way, armed with private security guards protecting him,
(28:35):
you know, while he's in this you know, mansion in Uganda,
wherever the hell he was posting in November of twenty twenty,
nature is healing. I just saw a cop crying in
his car, laughing my ass off. We don't need an
investigation to know that the NYPD is quote racist his words,
anti queer, and a major threat to public safety. What
(28:58):
we need is hashtag d fund the NYPD. He wrote
on an ex post OBAMAI, Mam Donnie pledged to disband
this key police unit. Mom Donnie supports no bail laws, defund, dismantle,
want social workers hired instead. A real genius. One has
to wonder will this incident that took place Monday in
(29:22):
New York City have any impact on the race for mayor.
I hate to tell you I don't really think so,
but well, I hope I'm wrong. Listen, at times, in
this dangerous world, there is only one option. If you
want to save your life or your family's life, you
must use lethal force. I hope it never happens to anybody.
(29:42):
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