August 8, 2025 • 41 mins
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Episode Transcript
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Speaker 1 (00:01):
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Speaker 2 (01:31):
We're just trying to turn a neckel into a dime.
Speaker 3 (01:35):
That's the bottom line.
Speaker 4 (01:43):
Welcome to real, honest talk about money, politics, news and
information you can actually use. Buggle up and hold on
type this is.
Speaker 3 (01:53):
That's the bottom line, the best thing.
Speaker 2 (02:02):
But you can give them to the bath and be the.
Speaker 5 (02:19):
Good morning everybody. This is that's at the bottom line.
I'm your host, Jeff Lewis of Asset Growth Associates along
with Jean Valerini. Thanks for sharing part of your weekend
with us. Our top line story this week, Texas Democrats
are on the run.
Speaker 2 (02:36):
What's wrong, dude? Ye?
Speaker 5 (02:39):
The cowardly Democratic caucus refused to allow a quorum during
the special legislative session this week in Austin. The Texas
House of Representatives has one hundred and fifty members, with
one hundred necessary to be present in order to conduct business.
There's only eighty eight Republicans, which means at least twelve
Democrats have to show up for the body to function.
(02:59):
At the heart or of the controversy is a bill
that would allow the legislature to redraw the lines of
the thirty eight congressional districts in the state, a move
that is only rarely done between censuses. So make no mistake,
this is a blatantly political move by the Texas GOP
and goes to show just how concerned Republicans are about
their slim majority in the United States House. Democrats are
(03:23):
overwhelming favorites to win back the lower chamber next year,
and Republicans are looking for any advantage they can get
to even the playing field and what history indicates should
be an unfavorable election cycle for the party in power.
Hence the effort to redraw the map, and Republicans are
understandably taking some political heat for it. The thought is
(03:43):
that Republicans can get roughly five more seats through their
redistricting efforts, but given the extremely narrow margin of the
Republican majority in Washington, even that is not likely to
be enough to keep the Democrats from retaking control. But
rather than simply right off their losses and trust the history,
Texas Democrats decided to abandon ship to where else Chicago?
Speaker 6 (04:11):
Come on, it's actually attempted to just let the rest
of your songs play out.
Speaker 5 (04:30):
Both break you know sneak out the Batic. They were
like the Blues Brothers doing movies. Great Gabbott was so
ticked off at the stunt that he threatened to have
the Truant members arrested and brought back to the capital
or even legally removed from office. Here's the governor explaining
his position on Newsmax.
Speaker 7 (04:47):
Listen, it's outrageous they flee to states like Illinois and Kennedy.
These Democrats fit right in in Illinois and New York
a whole lot better than they fit into the state
of Texas.
Speaker 8 (04:58):
What we're doing in the state of Texas.
Speaker 7 (04:59):
Is we are redrawing the congressional district lines to ensure
that the voters in the state of Texas are going
to have the opportunity to cast votes for members of
Congress that are consistent with the way they voted for
the United States presidency. We're going to add five more
Republican congressional districts in the set of Texas, and the
Democrats realize there's nothing they can do about it, but
(05:22):
in a very untexaned fashion, they're not staying here and fighting,
They're turning tail and running.
Speaker 8 (05:28):
That's the most untexing thing they can do.
Speaker 5 (05:31):
Let me just interrupt the governor here for a minute.
If you follow this show's Facebook page, I shared the
Illinois congressional district map on the site. Those boundaries look
like someone threw a ball of yarn on a map
with some catnip and let my three cats have at it.
There's no apparent methodology to it at all, at least
on the surface. In reality, though, these lines are drawn
(05:53):
in order to put little pieces of the urban center.
Chicago has long been a democratic fashion and as many
districts as possible while concentrating rural Republican support into as
few districts as possible. They've done this with great success,
which is why Democrats control fourteen of Illinois's seventeen congressional
districts despite winning only fifty two percent of the statewide
(06:16):
vote last fall. Similarly, in California, Democrats have a twenty
percent margin into popular vote but control forty three of
the fifty two seats, which is exactly the same seat
allocation percentage as Illinois eighty two percent of the available representation.
Now compared that to Texas, the GOP only holds just
(06:38):
under two thirds of the seats Here, a twenty five
to thirteen advantage. Yet Republicans carried the state by eighteen points,
literally triple the margin of that of Illinois, closer to
the level of dominance of California by the Democrats. If
Texas were to employ the same tactics here as the
Liberals do on the East and West Coast, the GOP
(06:59):
would control at least thirty seats. And that's the crux
of the argument. The Democrats are crying foul that national
Republicans are tired of being held at a disadvantage for
trying to play fair. Let's be honest, our politics have
devolved to the point that fairness isn't really an option anymore. Personally,
I think it sucks, but this is the new reality. Anyway,
(07:19):
back to the governor.
Speaker 7 (07:20):
And Chris, I have to add this, They're not just
turning their backs on their reditioning process. We're in a
special session called by me, and on that agenda, the
first items are to respond to the devastating floods in Kurbilt, Texas.
Speaker 8 (07:34):
And across the state of Texas.
Speaker 7 (07:36):
The Democrats are denying the ability of the state to
provide flood relief to our fellow Texas. They should be
kicked out of office by the voters.
Speaker 5 (07:46):
Which may include bribery charges. To hear the governor tell it,
Mind you, arresting these truant members of the House isn't
the same as what happens if you or I got arrested.
This is simply the escort the members to the capital
chamber where they belong. The stargeon of arms can even
lock the doors to keep members inside the Capitol. It's
part of what you sign up for when you run
for office, you know, to actually show up and vote.
(08:08):
Because it's not just about the redistricting bill. There's other
stuff on the agenda, like the government mentioned the Kerrville
flood responses on there too. In fact, that's up first.
Yet apparently all the Democrats cared about last month with
scoring political points in the face of tragedy, not for
the actual safety of their fellow Texans. This may prompt
(08:29):
yet a larger political battle. New York Governor Kathy Hokeel
made this confusing argument promising retribution.
Speaker 9 (08:35):
But Texas and Republican states are doing it the direction
of Donald Trump I says nothing short of a legal
insurrection against our capital. Legal meaning they're using the legal
process does not mean it's legal, and it must be stopped.
The Republicans are willing to rewrite these rules to give
(08:56):
themselves an advantage, then they're leaving us no choice.
Speaker 5 (09:00):
Now. The Democrat's best argument is that this is happening
mid decade. In other words, you should have jerrymandered better
at the census like we did. But the GOP has
a good counter argument here. There's been so much rapid
growth and migration into Texas in the last five years
that the districts no longer accurately reflect political realities, including
(09:24):
the massive shift of voting preferences among Hispanic voters towards
the Republican Party. In fact, I think the GOP should
have presented this argument in the first place, instead of
just saying, hey, we can flip five seats. But let's
be honest, we Republicans ain't always that bright, particularly when
(09:44):
it comes to our leadership. So when we come back,
we'll explore some of the changes to the economy in
the last week. Maybe some bad numbers came in, we'll
see how they fly back after this.
Speaker 2 (09:57):
We're just trying to turn a nekel into a die.
Speaker 3 (10:00):
That's the bottom line.
Speaker 1 (10:03):
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Speaker 10 (11:01):
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Speaker 1 (12:05):
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Speaker 2 (13:47):
We're just to turn anchel into what time?
Speaker 3 (13:51):
That's the bottom line?
Speaker 11 (13:57):
Peow, Now we're back with that's the bottom line.
Speaker 5 (14:25):
I'm Jeff Lewis to economic news. So where did all
the jobs go? It's like all these jobs just vanished overnight,
just like tweaks underpants. So anyway, the labor report was
(14:46):
dramatically revised downward over last weekend, with the economy adding
two hundred and fifty eight thousand fewer jobs in May
and June than originally reported. After the Bureau of Labor
Statistics Chief Erica mcintar failed to provide an explanation for
the abrupt provision, President Trump had this response. After the
Bureau of Labor Statistics chief Erica mcintiffer failed to provide
(15:10):
an explanation for the abrupt provision, President Trump had this response.
Speaker 2 (15:15):
I'm sorry, you're fired.
Speaker 5 (15:17):
I've been waiting to use that clip for this entire presidency. Now,
in fairness, this isn't the first time the Bureau has
gotten the numbers wrong, So it's not like Trump is
out there just shooting the messenger. Just days before the election,
the same person put out rosy data for the Biden
administration before having to revise those numbers downward five out
eight hundred thousand jobs after Kamala had already lost. So
(15:39):
Trump's got a legitimate beef with this lady's job performance,
whether it's incompetence or sabotage. The President gets into this
exchange about it with Joe Kernan on CNBC.
Speaker 12 (15:49):
Well, I think when somebody says the commissioner is not involved,
I don't want to get into any arguments with anybody
why should I should.
Speaker 13 (15:56):
A very nice well exactly, But would they say that
the that nobody was involved, that it wasn't political. Give
me a break.
Speaker 12 (16:04):
Look, before the election, I had this massive, massive.
Speaker 13 (16:08):
Outflow of beauty for Biden. I mean, he didn't know
he was alive, and but Biden, the economy was roaring.
It was a beautiful thing. And I said, there's no
way this is happening. It's going the opposite direction. And
two weeks later they said I was right.
Speaker 12 (16:25):
But even if you look at the original, the ones
from the other day, the numbers were very timid, and
then they announced something that made them even more timid
on top of it, instead of a reporting day.
Speaker 13 (16:36):
I don't know why. It just seemed a little bit
more more important than most times when they.
Speaker 8 (16:40):
Announced the numbers we talked earlier.
Speaker 2 (16:42):
The unemployment rate is still low. It's four point two percent.
Speaker 13 (16:48):
I'm but I will say this, the numbers before the
election were earth shattering.
Speaker 12 (16:54):
I'm not saying these were shattering, But then they announced
a couple one hundred thousand to make it look a
little bit worse from you know, months before, I said,
where did those numbers come from? So as much as
you want to highly political.
Speaker 13 (17:07):
It's a highly political situation. It's totally rigged. Smart people
know it, people with common tense know it. A lot
of people like you to keep the head under the coverage.
Speaker 5 (17:17):
And National Economic Council Director Kevin Hassett, who's in the
running become the new FED chairman, by the way, explain
the administration's confusion over the numbers and how they were released.
Speaker 14 (17:28):
Well, I think with the economy, it's really important to
keep our eyes on the horizon, and the eyes on
the horizon are seeing really smooth sailing ahead. We've got
three percent GDP growth and yes, this week disappointing jobs number.
When I first saw the big revisions, which by the way,
were the largest revisions going all the way back for
fifty years if we exclude the COVID years. But I
(17:49):
saw those revisions, I thought it must be a typo
that I've never seen a revision like this. And as
you know, you've known me a long time, I live
in these data, you know. I had the one hundredth
anniversary celebration of the Consumer Expenditure Survey at the Bureau
of Labor Statistics. Alan Greenspan and I were the keynote speakers.
I've been following this forever. I've never seen a revision
like that, and so I think that the underlying strength
(18:11):
is the headline. For me, the big Downer division is
something of a puzzle. I don't think it was explained
very well, and I think the markets might be as
much unsettled by the fact that the data are so noisy.
So imagine if the revision in the data, so the
correction of errors is five times bigger than the number itself,
(18:31):
then that makes you wonder, well, can I believe this
number at all? And I think that that's actually something
that needs to be fixed. It needs to be fixed fast.
Speaker 5 (18:37):
Well, heck, yeah, it needs to be fixed. We conservatives
were quick to jump on the Biden administration when it
looked like to us they were cooking the books. But
massive revisions like this have economic impacts. One of the
reasons the old Soviet Union fell as hard as they
did was the simple fact the government was lying to itself.
They didn't know how, or simply couldn't report good, clean
(19:00):
economic data. So the people in charge cauldn't make good decisions.
And that's the case Carl Cannon makes here on the
RCP podcast If an administration can't trust the numbers they're getting,
well what's the point of getting them in the first place.
Speaker 15 (19:14):
The good news about the Bureau Labor Statistics appears to
be they're not playing political games. The bad news is
they're just incompetent. You know, the press United States, in
the previous president States has had every reason to wonder
what the hell's going on? If they can't measure these numbers,
white try what or why not fix the system that
they're using, or why pretend that these numbers are more
(19:36):
authoritative than they are. These constant revisions to be maddening
if you're in the West wing.
Speaker 16 (19:43):
I get that now.
Speaker 5 (19:44):
It's not like all the economic news was doing gloom.
This week, Apple announced yet another one hundred billion dollars
of investment, on top of the half trillion they'd already
committed to earlier this year. Here's Trump making the announcement.
Speaker 17 (19:56):
Today.
Speaker 18 (19:57):
Apple is announcing that it will invest six hundred billion
dollars that's with the b in the United States over
the next four years. That's one hundred billion dollars more
than they were originally going to invest. And this is
the largest investment Apple has ever made in America.
Speaker 5 (20:16):
It's only common sense that as all these trillions of
dollars of investment start flowing into the country, that job
creation will boom along with it. There's a time element involved, though,
So while it's good to see GDP at three percent
growth last quarter and that unemployment remains in low four percents,
the economic impact of this level of investment is still
(20:38):
in its infancy. That's why it's so critical to get
the deep state economic saboteurs out of the way, and
by that I mean the Federal Research Chairman Jerome Powell. Fortunately,
this week a seat opened up on the Board of Governors,
which gives President Trump a unique opportunity if he'll take
advantage of it. Larry Kudlow explains how Trump can undercut
(21:01):
Powell before his term is even up next year.
Speaker 17 (21:04):
Put in who you want to be chair That will
essentially crowd out, almost blow up j Powell's term as chair, Okay,
and change the whole dynamic of the board, because you
already got Chris Waller and you got Mickey Bowman in there.
And look, Hasset is a brilliant person. Worsh is a
(21:24):
brilliant person. They're both people of enormous stature, and so
they will really start running things on a de facto basis. Okay,
they will, And there's nothing Jay Powell can do. Jay
Powell can speak, he can go up there at press conferences,
but you'll have a second press comperience. Everyone will want
to know what Kevin worsh wants or what Kevin Hassett wants,
more than they want to know what Jay Powell wants.
(21:47):
And that's a good thing because, as we've discussed so
many times, Powell's policy, I believe is standing in the
way of the Trump boom.
Speaker 5 (21:54):
When we come back, it's Dean val Orani with this
week's dirty little Secret.
Speaker 8 (21:58):
Stay with us.
Speaker 2 (22:00):
We're just trying to turn ankelint a dime.
Speaker 19 (22:03):
That's the bottom We're just trying to turn a nickel
in to a dime.
Speaker 3 (22:07):
That's the bottom line.
Speaker 16 (22:09):
Welcome back. This is Gene Valeradi reporting and it's time
in our weekly report to go to what we call
the derby little secret. The mainstream pro Democrat news media
has yet to report that a handful of operatives from
the Obama administration, including former President Obama himself, has been
(22:34):
turned over to a grand jury in Florida seeking indictments
for subverface subversive operatives, and they created when they created
these false charges against President Trump at the end of
Trump's first administration, when he was seeking reelection for a
(22:57):
second term and lost the election to Joe. From all
that's come out, it seems that a vivy of Obama
era operatives had concocted that so called a Leeged Russia
Gate lie that accuse President Trump of being a Russian spot. Now,
this was a false charge was carried out by a
(23:19):
handful of Obama appointees and by Hillary Clinton herself, who's
running against Donald Trump. Now, despite subjecting President Trump to
the false charges, most Americans remember how the FBI conducted
a raid on Trump's Mari Lago estate and they carried
(23:42):
out several trials accusing Trump of many things. They drug
him into the courthouse, and all of that turned out
to be fault. Nonetheless, the American voters still elected Trump
over Hillary Clinton to his first term as president. Now,
when Trump lost his re election bid, he lost the
(24:05):
presidency to Joe Biden. But then Trump came back and
was elected to a second term last November. Okay, that's
what that's how it's been going on so far. Now
the plot against Trump has now been exposed. This is
the main thing I'm wanting to get across to you
this morning. This was all brought forward recently when burnbags
(24:29):
sent to be burned but never were was discovered articles
about Barack Obama being immune from prosecution. Now this is important.
Listen to me. Let me let me underline this. Articles
about Barack Obama being immune from prosecution are turning out
(24:52):
not to be true. Obama played a role in all
of this conspiracy to have President Trump prosecuted. But for
the alleged crimes Obama committed. His involvement in all that
is still prosecutable as plotting crimes against Trump for political reasons,
(25:16):
and as such, despite presidents being immune from prosecutions conducted
in their official capacity as president, Obama's involvement was actually
with criminal intent and as such is still prosecutable. So
(25:36):
as it turns out, all those who allegedly plotted against
Trump to be charged criminally has failed. And now we
find out those plotters will soon become memorable names. And
I speak to you today about all this. You know,
(25:59):
while I'm taught can cue about this, it's being sent
to a grand jury. This whole deal about what was
found out sent to a grand jury, and we're going
to soon know whether names like former FBI Director James
Komy and other big names in the Obama administration are
(26:21):
going to end up being indicted by a grand jury,
a federal grand jury, and if found guilty after a trial,
could likely be faced with prison. Tine. Now, this is
the real truth. All this is really big news, and
the fact that the mainstream media is not covering it
(26:43):
in depth doesn't mean it won't come forward. All of
this was brought to light by a notable brought to
light by Taulsey Gabbern, a former Democrat who in recent
years has joined the Republican Party now works for President Trump.
(27:03):
All right, now we know that Tulsey Gabbert's a former Democrat,
she joined the Republican Party. She's working inside the Trump administration.
The pro Democrat news media has turned quickly on miss Gabbard, right,
they don't like her anymore because she turned Republican, and
they're claiming that everything Taulsy Gabbart has released is untrue.
(27:27):
So what we have is the pro Democrat news media
claiming Miss Gabbard's story about finding evidence of a plot
against Trump in burn bags. Well, the Democrats are claiming
that that's not true. But is it ari isn't it?
I don't know the answer. All I know is that
(27:48):
a grand jury is being put together. That is being
put together, I think in Florida. So how far will
this go? Well the news media circle the wagons to
protect Hillary Clinton and Barack Obama, or will miss Gabber
find herself the victim of the corrupt American news media,
which for the most part, you know, do you know
(28:09):
as well as I do that the news media leans left?
And I don't have an answer to any of these
questions about a grand jury looking into the matter, because
that's a secret process going on, but it sure has
been making news for a few days now. And usually
where there's smoke, there's fire. As we all should know
(28:29):
at this point in American history is that the Democrats
have swung so far to the left they might just
as well consider changing their names to the Socialist Party
of America or maybe even the Communist Party of America.
So we're gonna have to wait and see how all
(28:50):
this plays out.
Speaker 19 (28:51):
We're just trying to turn a nickel into what That's
the bottom.
Speaker 1 (28:55):
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Speaker 19 (30:56):
We're just trying to turn a neckel into a dive.
That's the bottom line.
Speaker 16 (31:01):
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learn more about us and the work that we do
(34:44):
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(36:13):
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(36:37):
more security, our enemies are still out there and who
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(37:45):
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in mind.
Speaker 2 (37:55):
We're just trying to turn a nickel into a dime.
Speaker 19 (37:59):
That's the bottom line. We're just trying to turn a
nekel into a die.
Speaker 3 (38:05):
That's the bottom line.
Speaker 5 (38:18):
Thank you for listening today to That's the bottom line.
On news talk radio a M five sixty kl v
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(39:03):
from the intersection of MLK and calder. With all of
these changes to the tax code since the Big Beautiful
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(41:16):
that's the bottom line.
Speaker 3 (41:18):
That's the bottom line.
Speaker 4 (41:21):
You can reach Asset Growth Associates by calling one eight
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investment advisor in the state of Texas.
Speaker 2 (01:31):
We're just trying to turn a neckel into a dime.
Speaker 3 (01:35):
That's the bottom line.
Speaker 4 (01:43):
Welcome to real, honest talk about money, politics, news and
information you can actually use. Buggle up and hold on
type this is.
Speaker 3 (01:53):
That's the bottom line, the best thing.
Speaker 2 (02:02):
But you can give them to the bath and be the.
Speaker 5 (02:19):
Good morning everybody. This is that's at the bottom line.
I'm your host, Jeff Lewis of Asset Growth Associates along
with Jean Valerini. Thanks for sharing part of your weekend
with us. Our top line story this week, Texas Democrats
are on the run.
Speaker 2 (02:36):
What's wrong, dude? Ye?
Speaker 5 (02:39):
The cowardly Democratic caucus refused to allow a quorum during
the special legislative session this week in Austin. The Texas
House of Representatives has one hundred and fifty members, with
one hundred necessary to be present in order to conduct business.
There's only eighty eight Republicans, which means at least twelve
Democrats have to show up for the body to function.
(02:59):
At the heart or of the controversy is a bill
that would allow the legislature to redraw the lines of
the thirty eight congressional districts in the state, a move
that is only rarely done between censuses. So make no mistake,
this is a blatantly political move by the Texas GOP
and goes to show just how concerned Republicans are about
their slim majority in the United States House. Democrats are
(03:23):
overwhelming favorites to win back the lower chamber next year,
and Republicans are looking for any advantage they can get
to even the playing field and what history indicates should
be an unfavorable election cycle for the party in power.
Hence the effort to redraw the map, and Republicans are
understandably taking some political heat for it. The thought is
(03:43):
that Republicans can get roughly five more seats through their
redistricting efforts, but given the extremely narrow margin of the
Republican majority in Washington, even that is not likely to
be enough to keep the Democrats from retaking control. But
rather than simply right off their losses and trust the history,
Texas Democrats decided to abandon ship to where else Chicago?
Speaker 6 (04:11):
Come on, it's actually attempted to just let the rest
of your songs play out.
Speaker 5 (04:30):
Both break you know sneak out the Batic. They were
like the Blues Brothers doing movies. Great Gabbott was so
ticked off at the stunt that he threatened to have
the Truant members arrested and brought back to the capital
or even legally removed from office. Here's the governor explaining
his position on Newsmax.
Speaker 7 (04:47):
Listen, it's outrageous they flee to states like Illinois and Kennedy.
These Democrats fit right in in Illinois and New York
a whole lot better than they fit into the state
of Texas.
Speaker 8 (04:58):
What we're doing in the state of Texas.
Speaker 7 (04:59):
Is we are redrawing the congressional district lines to ensure
that the voters in the state of Texas are going
to have the opportunity to cast votes for members of
Congress that are consistent with the way they voted for
the United States presidency. We're going to add five more
Republican congressional districts in the set of Texas, and the
Democrats realize there's nothing they can do about it, but
(05:22):
in a very untexaned fashion, they're not staying here and fighting,
They're turning tail and running.
Speaker 8 (05:28):
That's the most untexing thing they can do.
Speaker 5 (05:31):
Let me just interrupt the governor here for a minute.
If you follow this show's Facebook page, I shared the
Illinois congressional district map on the site. Those boundaries look
like someone threw a ball of yarn on a map
with some catnip and let my three cats have at it.
There's no apparent methodology to it at all, at least
on the surface. In reality, though, these lines are drawn
(05:53):
in order to put little pieces of the urban center.
Chicago has long been a democratic fashion and as many
districts as possible while concentrating rural Republican support into as
few districts as possible. They've done this with great success,
which is why Democrats control fourteen of Illinois's seventeen congressional
districts despite winning only fifty two percent of the statewide
(06:16):
vote last fall. Similarly, in California, Democrats have a twenty
percent margin into popular vote but control forty three of
the fifty two seats, which is exactly the same seat
allocation percentage as Illinois eighty two percent of the available representation.
Now compared that to Texas, the GOP only holds just
(06:38):
under two thirds of the seats Here, a twenty five
to thirteen advantage. Yet Republicans carried the state by eighteen points,
literally triple the margin of that of Illinois, closer to
the level of dominance of California by the Democrats. If
Texas were to employ the same tactics here as the
Liberals do on the East and West Coast, the GOP
(06:59):
would control at least thirty seats. And that's the crux
of the argument. The Democrats are crying foul that national
Republicans are tired of being held at a disadvantage for
trying to play fair. Let's be honest, our politics have
devolved to the point that fairness isn't really an option anymore. Personally,
I think it sucks, but this is the new reality. Anyway,
(07:19):
back to the governor.
Speaker 7 (07:20):
And Chris, I have to add this, They're not just
turning their backs on their reditioning process. We're in a
special session called by me, and on that agenda, the
first items are to respond to the devastating floods in Kurbilt, Texas.
Speaker 8 (07:34):
And across the state of Texas.
Speaker 7 (07:36):
The Democrats are denying the ability of the state to
provide flood relief to our fellow Texas. They should be
kicked out of office by the voters.
Speaker 5 (07:46):
Which may include bribery charges. To hear the governor tell it,
Mind you, arresting these truant members of the House isn't
the same as what happens if you or I got arrested.
This is simply the escort the members to the capital
chamber where they belong. The stargeon of arms can even
lock the doors to keep members inside the Capitol. It's
part of what you sign up for when you run
for office, you know, to actually show up and vote.
(08:08):
Because it's not just about the redistricting bill. There's other
stuff on the agenda, like the government mentioned the Kerrville
flood responses on there too. In fact, that's up first.
Yet apparently all the Democrats cared about last month with
scoring political points in the face of tragedy, not for
the actual safety of their fellow Texans. This may prompt
(08:29):
yet a larger political battle. New York Governor Kathy Hokeel
made this confusing argument promising retribution.
Speaker 9 (08:35):
But Texas and Republican states are doing it the direction
of Donald Trump I says nothing short of a legal
insurrection against our capital. Legal meaning they're using the legal
process does not mean it's legal, and it must be stopped.
The Republicans are willing to rewrite these rules to give
(08:56):
themselves an advantage, then they're leaving us no choice.
Speaker 5 (09:00):
Now. The Democrat's best argument is that this is happening
mid decade. In other words, you should have jerrymandered better
at the census like we did. But the GOP has
a good counter argument here. There's been so much rapid
growth and migration into Texas in the last five years
that the districts no longer accurately reflect political realities, including
(09:24):
the massive shift of voting preferences among Hispanic voters towards
the Republican Party. In fact, I think the GOP should
have presented this argument in the first place, instead of
just saying, hey, we can flip five seats. But let's
be honest, we Republicans ain't always that bright, particularly when
(09:44):
it comes to our leadership. So when we come back,
we'll explore some of the changes to the economy in
the last week. Maybe some bad numbers came in, we'll
see how they fly back after this.
Speaker 2 (09:57):
We're just trying to turn a nekel into a die.
Speaker 3 (10:00):
That's the bottom line.
Speaker 1 (10:03):
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Speaker 10 (11:01):
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will it's the lad that you did.
Speaker 1 (12:05):
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(13:17):
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indication of future results. Asset Growth Associates Wealth Advisors is
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Speaker 2 (13:47):
We're just to turn anchel into what time?
Speaker 3 (13:51):
That's the bottom line?
Speaker 11 (13:57):
Peow, Now we're back with that's the bottom line.
Speaker 5 (14:25):
I'm Jeff Lewis to economic news. So where did all
the jobs go? It's like all these jobs just vanished overnight,
just like tweaks underpants. So anyway, the labor report was
(14:46):
dramatically revised downward over last weekend, with the economy adding
two hundred and fifty eight thousand fewer jobs in May
and June than originally reported. After the Bureau of Labor
Statistics Chief Erica mcintar failed to provide an explanation for
the abrupt provision, President Trump had this response. After the
Bureau of Labor Statistics chief Erica mcintiffer failed to provide
(15:10):
an explanation for the abrupt provision, President Trump had this response.
Speaker 2 (15:15):
I'm sorry, you're fired.
Speaker 5 (15:17):
I've been waiting to use that clip for this entire presidency. Now,
in fairness, this isn't the first time the Bureau has
gotten the numbers wrong, So it's not like Trump is
out there just shooting the messenger. Just days before the election,
the same person put out rosy data for the Biden
administration before having to revise those numbers downward five out
eight hundred thousand jobs after Kamala had already lost. So
(15:39):
Trump's got a legitimate beef with this lady's job performance,
whether it's incompetence or sabotage. The President gets into this
exchange about it with Joe Kernan on CNBC.
Speaker 12 (15:49):
Well, I think when somebody says the commissioner is not involved,
I don't want to get into any arguments with anybody
why should I should.
Speaker 13 (15:56):
A very nice well exactly, But would they say that
the that nobody was involved, that it wasn't political. Give
me a break.
Speaker 12 (16:04):
Look, before the election, I had this massive, massive.
Speaker 13 (16:08):
Outflow of beauty for Biden. I mean, he didn't know
he was alive, and but Biden, the economy was roaring.
It was a beautiful thing. And I said, there's no
way this is happening. It's going the opposite direction. And
two weeks later they said I was right.
Speaker 12 (16:25):
But even if you look at the original, the ones
from the other day, the numbers were very timid, and
then they announced something that made them even more timid
on top of it, instead of a reporting day.
Speaker 13 (16:36):
I don't know why. It just seemed a little bit
more more important than most times when they.
Speaker 8 (16:40):
Announced the numbers we talked earlier.
Speaker 2 (16:42):
The unemployment rate is still low. It's four point two percent.
Speaker 13 (16:48):
I'm but I will say this, the numbers before the
election were earth shattering.
Speaker 12 (16:54):
I'm not saying these were shattering, But then they announced
a couple one hundred thousand to make it look a
little bit worse from you know, months before, I said,
where did those numbers come from? So as much as
you want to highly political.
Speaker 13 (17:07):
It's a highly political situation. It's totally rigged. Smart people
know it, people with common tense know it. A lot
of people like you to keep the head under the coverage.
Speaker 5 (17:17):
And National Economic Council Director Kevin Hassett, who's in the
running become the new FED chairman, by the way, explain
the administration's confusion over the numbers and how they were released.
Speaker 14 (17:28):
Well, I think with the economy, it's really important to
keep our eyes on the horizon, and the eyes on
the horizon are seeing really smooth sailing ahead. We've got
three percent GDP growth and yes, this week disappointing jobs number.
When I first saw the big revisions, which by the way,
were the largest revisions going all the way back for
fifty years if we exclude the COVID years. But I
(17:49):
saw those revisions, I thought it must be a typo
that I've never seen a revision like this. And as
you know, you've known me a long time, I live
in these data, you know. I had the one hundredth
anniversary celebration of the Consumer Expenditure Survey at the Bureau
of Labor Statistics. Alan Greenspan and I were the keynote speakers.
I've been following this forever. I've never seen a revision
like that, and so I think that the underlying strength
(18:11):
is the headline. For me, the big Downer division is
something of a puzzle. I don't think it was explained
very well, and I think the markets might be as
much unsettled by the fact that the data are so noisy.
So imagine if the revision in the data, so the
correction of errors is five times bigger than the number itself,
(18:31):
then that makes you wonder, well, can I believe this
number at all? And I think that that's actually something
that needs to be fixed. It needs to be fixed fast.
Speaker 5 (18:37):
Well, heck, yeah, it needs to be fixed. We conservatives
were quick to jump on the Biden administration when it
looked like to us they were cooking the books. But
massive revisions like this have economic impacts. One of the
reasons the old Soviet Union fell as hard as they
did was the simple fact the government was lying to itself.
They didn't know how, or simply couldn't report good, clean
(19:00):
economic data. So the people in charge cauldn't make good decisions.
And that's the case Carl Cannon makes here on the
RCP podcast If an administration can't trust the numbers they're getting,
well what's the point of getting them in the first place.
Speaker 15 (19:14):
The good news about the Bureau Labor Statistics appears to
be they're not playing political games. The bad news is
they're just incompetent. You know, the press United States, in
the previous president States has had every reason to wonder
what the hell's going on? If they can't measure these numbers,
white try what or why not fix the system that
they're using, or why pretend that these numbers are more
(19:36):
authoritative than they are. These constant revisions to be maddening
if you're in the West wing.
Speaker 16 (19:43):
I get that now.
Speaker 5 (19:44):
It's not like all the economic news was doing gloom.
This week, Apple announced yet another one hundred billion dollars
of investment, on top of the half trillion they'd already
committed to earlier this year. Here's Trump making the announcement.
Speaker 17 (19:56):
Today.
Speaker 18 (19:57):
Apple is announcing that it will invest six hundred billion
dollars that's with the b in the United States over
the next four years. That's one hundred billion dollars more
than they were originally going to invest. And this is
the largest investment Apple has ever made in America.
Speaker 5 (20:16):
It's only common sense that as all these trillions of
dollars of investment start flowing into the country, that job
creation will boom along with it. There's a time element involved, though,
So while it's good to see GDP at three percent
growth last quarter and that unemployment remains in low four percents,
the economic impact of this level of investment is still
(20:38):
in its infancy. That's why it's so critical to get
the deep state economic saboteurs out of the way, and
by that I mean the Federal Research Chairman Jerome Powell. Fortunately,
this week a seat opened up on the Board of Governors,
which gives President Trump a unique opportunity if he'll take
advantage of it. Larry Kudlow explains how Trump can undercut
(21:01):
Powell before his term is even up next year.
Speaker 17 (21:04):
Put in who you want to be chair That will
essentially crowd out, almost blow up j Powell's term as chair, Okay,
and change the whole dynamic of the board, because you
already got Chris Waller and you got Mickey Bowman in there.
And look, Hasset is a brilliant person. Worsh is a
(21:24):
brilliant person. They're both people of enormous stature, and so
they will really start running things on a de facto basis. Okay,
they will, And there's nothing Jay Powell can do. Jay
Powell can speak, he can go up there at press conferences,
but you'll have a second press comperience. Everyone will want
to know what Kevin worsh wants or what Kevin Hassett wants,
more than they want to know what Jay Powell wants.
(21:47):
And that's a good thing because, as we've discussed so
many times, Powell's policy, I believe is standing in the
way of the Trump boom.
Speaker 5 (21:54):
When we come back, it's Dean val Orani with this
week's dirty little Secret.
Speaker 8 (21:58):
Stay with us.
Speaker 2 (22:00):
We're just trying to turn ankelint a dime.
Speaker 19 (22:03):
That's the bottom We're just trying to turn a nickel
in to a dime.
Speaker 3 (22:07):
That's the bottom line.
Speaker 16 (22:09):
Welcome back. This is Gene Valeradi reporting and it's time
in our weekly report to go to what we call
the derby little secret. The mainstream pro Democrat news media
has yet to report that a handful of operatives from
the Obama administration, including former President Obama himself, has been
(22:34):
turned over to a grand jury in Florida seeking indictments
for subverface subversive operatives, and they created when they created
these false charges against President Trump at the end of
Trump's first administration, when he was seeking reelection for a
(22:57):
second term and lost the election to Joe. From all
that's come out, it seems that a vivy of Obama
era operatives had concocted that so called a Leeged Russia
Gate lie that accuse President Trump of being a Russian spot. Now,
this was a false charge was carried out by a
(23:19):
handful of Obama appointees and by Hillary Clinton herself, who's
running against Donald Trump. Now, despite subjecting President Trump to
the false charges, most Americans remember how the FBI conducted
a raid on Trump's Mari Lago estate and they carried
(23:42):
out several trials accusing Trump of many things. They drug
him into the courthouse, and all of that turned out
to be fault. Nonetheless, the American voters still elected Trump
over Hillary Clinton to his first term as president. Now,
when Trump lost his re election bid, he lost the
(24:05):
presidency to Joe Biden. But then Trump came back and
was elected to a second term last November. Okay, that's
what that's how it's been going on so far. Now
the plot against Trump has now been exposed. This is
the main thing I'm wanting to get across to you
this morning. This was all brought forward recently when burnbags
(24:29):
sent to be burned but never were was discovered articles
about Barack Obama being immune from prosecution. Now this is important.
Listen to me. Let me let me underline this. Articles
about Barack Obama being immune from prosecution are turning out
(24:52):
not to be true. Obama played a role in all
of this conspiracy to have President Trump prosecuted. But for
the alleged crimes Obama committed. His involvement in all that
is still prosecutable as plotting crimes against Trump for political reasons,
(25:16):
and as such, despite presidents being immune from prosecutions conducted
in their official capacity as president, Obama's involvement was actually
with criminal intent and as such is still prosecutable. So
(25:36):
as it turns out, all those who allegedly plotted against
Trump to be charged criminally has failed. And now we
find out those plotters will soon become memorable names. And
I speak to you today about all this. You know,
(25:59):
while I'm taught can cue about this, it's being sent
to a grand jury. This whole deal about what was
found out sent to a grand jury, and we're going
to soon know whether names like former FBI Director James
Komy and other big names in the Obama administration are
(26:21):
going to end up being indicted by a grand jury,
a federal grand jury, and if found guilty after a trial,
could likely be faced with prison. Tine. Now, this is
the real truth. All this is really big news, and
the fact that the mainstream media is not covering it
(26:43):
in depth doesn't mean it won't come forward. All of
this was brought to light by a notable brought to
light by Taulsey Gabbern, a former Democrat who in recent
years has joined the Republican Party now works for President Trump.
(27:03):
All right, now we know that Tulsey Gabbert's a former Democrat,
she joined the Republican Party. She's working inside the Trump administration.
The pro Democrat news media has turned quickly on miss Gabbard, right,
they don't like her anymore because she turned Republican, and
they're claiming that everything Taulsy Gabbart has released is untrue.
(27:27):
So what we have is the pro Democrat news media
claiming Miss Gabbard's story about finding evidence of a plot
against Trump in burn bags. Well, the Democrats are claiming
that that's not true. But is it ari isn't it?
I don't know the answer. All I know is that
(27:48):
a grand jury is being put together. That is being
put together, I think in Florida. So how far will
this go? Well the news media circle the wagons to
protect Hillary Clinton and Barack Obama, or will miss Gabber
find herself the victim of the corrupt American news media,
which for the most part, you know, do you know
(28:09):
as well as I do that the news media leans left?
And I don't have an answer to any of these
questions about a grand jury looking into the matter, because
that's a secret process going on, but it sure has
been making news for a few days now. And usually
where there's smoke, there's fire. As we all should know
(28:29):
at this point in American history is that the Democrats
have swung so far to the left they might just
as well consider changing their names to the Socialist Party
of America or maybe even the Communist Party of America.
So we're gonna have to wait and see how all
(28:50):
this plays out.
Speaker 19 (28:51):
We're just trying to turn a nickel into what That's
the bottom.
Speaker 1 (28:55):
Line planning your financial future. Taxes can be the one
of your biggest expenses in retirement, but they don't have
to be. With a tax efficient distribution plan, you can
keep more of what you've worked so hard to save.
Here's how it works. We help you strategically withdraw from
(29:15):
your accounts to reduce tax liabilities and maximize your retirement income.
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(30:01):
investment advisor in the state.
Speaker 5 (30:03):
Are you tired of watching your investments rise and fall
with the market. What if you could have growth potential
without the risk of losing your hard earned money. This
is Jeff Lewis with Asset Growth Associates. If this sounds interesting,
then you need to ask us about a principal protection plan.
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(30:27):
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(30:48):
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Speaker 19 (30:56):
We're just trying to turn a neckel into a dive.
That's the bottom line.
Speaker 16 (31:01):
Welcome back you're listening to. That's the bottom line. Your
weekly broadcast on KLBI that tells it like it is.
This is Gene Valerani reporting at Asset Growth Associates. We
offer risk free investments plans into the financial markets for earnings,
(31:22):
but without exposure to losses caused by a downturn on
Wall Street. Your dollars grow but never shrink when Wall
Street has a hiccup. As you've heard me say, time
and time again. Why risk your investment nest egg when
you have the availability of no risk investing and access
(31:48):
to your money and when you need it now you
can grow your money without exposure to losses caused by
a downturn on Wall Street. All you have to do
is call us at Asset Growth Associates four oh nine
eight four sixty nine hundred, meet with us, and we'll
show you how it's done. And here's something else about
(32:10):
these plans. They grow tax deferred and are available to
a named beneficiary by because they bypass probate. So if
you die before you retire, that money is not going
to be tied up anywhere. It's going to come straight
to a named beneficiary. Proceeds are available in a lump summer,
(32:33):
they can be paid out in monthly income. These plans
are not complicated, they can't provide security for investors, and
they're loved ones very important. So why not call us
for a sit down appointment learn more about it, because
these plans are excellent for four oh one K and
(32:54):
pension rollovers and transfers. You know that we have been
off ring for a long long before the financial services
industry that even began talking about them. We were among
the first, and we're right here in the local area
where we talk to you face to face. For anyone
(33:17):
nearing retirement already retired. At Asset Growth Associates, we can
simplify your investment life and have been doing so for
our clients for decades now. So if you have a
vested four one K, or if you have access to
(33:38):
funds now before you retire, you may be able to
pull those funds aside, roll them out and put them
where they're safe. They'll keep growing and you'll have even
more money and less and less risk. As you get
closer and closer to retirement and you want to add
(33:59):
that money to what you use money for everything you know,
there's an old saying which suggests that the journey of
a thousand miles begins with the first step. Why not
take that first step? You do that by calling us
at four oh nine eight four oh sixty nine hundred.
(34:22):
We have a toll free number one eight sixty six
seven two eight three six nine seven call us. We
can also be reached online by logging on to savemyretirement
dot com. You can blog onto that website. You can
learn more about us and the work that we do
(34:44):
for our clients. Money isn't everything. You've heard me say
that time and time again, but it sure comes in
handy sometimes. And our job is to help you grow
your money and do it safely without exposure to losses.
Another words, you can earn market returns without exposure to
(35:06):
market losses. There's nothing wrong with that. Ladies and gentlemen.
Remember our name, Asset Growth Associates, and our name means
what it says. We grow nest eggs and do it
without the risk of loss caused by downturns on Wall Street.
And we've been doing this now for decades. There's no
(35:30):
perfect plan. You've heard me say that before, but depending
on individual needs, some are just better than others. And
we feel we can help individuals grow their nest eggs
without ever being exposed to losses caused by downturns on
Wall Street. In other words, you're in one of these
(35:52):
plans and the market's up, you're making money. If the
market goes down, your money stastes put and it resects
whenever the market starts coming back up. So you can
never lose and have to come back from less because
you're just you're always moving forward, Face it, ladies and gentlemen.
(36:13):
We live in a hostile world where foreign enemies would
love to be able to carry out terrorist threats against
US and our homeland. Through the grace of God, we
now have more stability and common sense in Washington, DC,
and that's a good thing. And of course I'm talking
about President Trump and his administration. But while we have
(36:37):
more security, our enemies are still out there and who
knows what they're planning to carry out next or causing
more widespread mayhem threats, and a successful attack can cause
great harm. We all remember nine to eleven. If we don't,
we should, and all the losses that were caused on
(36:59):
Wall Street and elsewhere as well in just the times
that we live in, and why it's important to have
your investment dollars in safe places that do not lose
value or crashed or in a banic. Safety first with
proper planning, prevents losses. So why not call us soon
an Asset Growth Associates where we can help you both
(37:22):
grow and protect yourself from losses, no matter what brings
them about. Once again, the journey of one thousand miles
begins with the first step, So call us soon four
oh nine eight four sixty nine, one hundred. If you
live in far away places, toll free call one eight
six six seven two eight three six nine seven. It
(37:45):
costs nothing to talk to us, and we're ready and
willing to help you achieve your financial goals. Keep that
in mind.
Speaker 2 (37:55):
We're just trying to turn a nickel into a dime.
Speaker 19 (37:59):
That's the bottom line. We're just trying to turn a
nekel into a die.
Speaker 3 (38:05):
That's the bottom line.
Speaker 5 (38:18):
Thank you for listening today to That's the bottom line.
On news talk radio a M five sixty kl v
I or through our website at Savemyretirement dot com. All
of our broadcasts are available on demand online. Just go
to your iHeartRadio app and search for that's the bottom
line under the podcast tab. And remember that is the favorites.
(38:43):
We're on Facebook at Jeff Lewis. That's the bottom line.
Search for us name and show, and follow us for
all of the latest updates. If you want to schedule
an appointment with us, call our office toll free at
eight sixty six Save my Retirement. Our physical address and
Helmont is at thirteen ninety one Calder Avenue, a block
(39:03):
from the intersection of MLK and calder. With all of
these changes to the tax code since the Big Beautiful
Bill got passed, have you wondered how the new law
is going to benefit you this next tax year? With
all of these changes to the tax code since the
Big Beautiful Bill got passed, have you wondered how the
new law is going to benefit you this next tax year?
(39:25):
We're offering an early tax planning service for eighty dollars
that could help you better plan for your next tax
filing and potentially even reduce the amount you're withholding for taxes.
We don't like having to pay taxes anymore than the
next guy, so why pay any earlier than you have to. Plus,
we'll get rid of all the uncertainty you may have
(39:45):
when you file next year. And by choosing Asset Growth
Associates for your tax planning needs, you'll also be in house,
making it easier for our advisory team to coordinate your
investment portfolio with your tax strategy. Speaking of portfolios, are
you interested in increasing your retirement income? Schedule an appointment
with us to discuss our cover call ETF strategy. These
(40:09):
exchange traded funds base their values off of underlying equity
positions in big time companies like Nvidia and Netflix, but
pay dividends for a monthly income. Whether or not you're
already or retired, you can bring down the capital you
need for a new home or a vehicle. Our proprietary
portfolio builder can customize a plan based off your income needs. Now,
(40:34):
if you are close to retirement and more interested in
keeping your money safe, you're probably a good candidate for
a principal protection strategy where you can get market linked
rates of return with zero risk to your principle. We
generally recommend these as at least a portion of a
diversified portfolio, but regardless of your personal goals, we've got
(40:55):
multiple options and reasons to choose Asset Growth Associates. We've
got the experience and name you can trust. We know
how to handle your money consistently, safely, and always with
your best interest in mind. I'm Jeff Lewis. Remember that
you are greatly blessed and highly favored because as always,
(41:16):
that's the bottom line.
Speaker 3 (41:18):
That's the bottom line.
Speaker 4 (41:21):
You can reach Asset Growth Associates by calling one eight
six six seven to eight thirty six ninety seven are
by visiting Savemiretirement dot com
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