August 29, 2025 • 41 mins
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Episode Transcript
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Speaker 1 (00:01):
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(01:11):
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Call us at four O nine eight four zero sixty
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Speaker 2 (01:31):
We're just trying to turn anchel into a time.
Speaker 3 (01:35):
That's the bottom line.
Speaker 4 (01:43):
Welcome to real honest talk about money, politics, use and
information you can actually use.
Speaker 2 (01:50):
Buckle up and hold on type this is.
Speaker 5 (01:53):
That's the bottom line.
Speaker 2 (01:59):
The best thing.
Speaker 5 (02:02):
But you can give them to the bed and burning everybody.
Speaker 6 (02:15):
In happy later day weekend. This is and that's the
bottom line. I'm your host, Jeff Lewis the Asset Growth Associates,
along with Jean Valerani. Thanks for sharing part of your
long weekend with us. Our top line story this week
focused once again on reditioning, and on that note, we
sat down this week with the Honorable Randy Weber, Representative
(02:37):
of the Congress for the fourteenth Thirshik of Texas, which
includes many of us right here in the Golden Triangle.
The Congressman was gracious enough to spend forty minutes in
conversation with us about a whole range of issues. We've
got the entire interview on our website, Saved my Retirement
dot com, but here's part of that conversation. My first
question to the congressman was how the new maps would
(02:58):
affect the district lines right here in southeast Texas.
Speaker 7 (03:01):
Well, I want to remind everybody my beautiful bride is
from Needle in Texas. So she's here and she's right here, witness. Actually,
we've watched the Gulf Coast of Texas. As I said earlier,
I've served four years in the Texas House before I
got demoted to Congress, and so we've watched this area grow.
Brenda grew up on the east side of the District fourteen.
I grew up the south on the Parilan kind of
(03:23):
the Bassouria County side of the district. Laws are from there, yeah, right,
so we know that area quite well. The theme here
was that Texas is an extremely red state and we
if you followed the voting patterns from the last presidential election,
we should have had more Republican districts than we had.
(03:43):
And so the lawyers and the White House got together.
They made sure that all the laws were passed, voting right,
attacks followed. Everything was copesthetic, if you will, and so
they said we should have five more districts, and so
that's what they've done. They've said about drawing that map
the Texas delegation. You remember, there's twenty five members of
the Texas House and of course thirteen members of the
(04:06):
other side. And so what we did was we got
with our lawyer and we said, okay, all of our
discussion about the actual gets of the process that it's
going to work, we're going to keep between ourselves because
that way we had client attorney client privilege in case
somebody want to say, we y'all plan on going race
that y'all plan on this ship. No, we didn't either.
(04:26):
That's stupid, you know. So we watched it for a while. Yes,
it changes the districts. Yes, you're going to see some districts,
District fourteen, for example, go from about a sixty four
percent RU factor down to probably sixty percent. But you're
still talking sixty.
Speaker 6 (04:43):
So what did we lose in terms of what's in
our district? The mass was very very similar on our end.
Speaker 7 (04:48):
Right, Well, doctor bad and good friend of mine actually,
as you know, had East Texas. You mentioned East Texas
District thirty six. He had a higher r value than
I did. He's going to he's losing Liberty County. He's
going to come down across the top side of Galveston County.
I'm sorry to get Harris County, the bocomcot of Harris County,
and pick up Parland where I actually grew up on
(05:08):
the north side of Parland. And then my district is
gonna it's gonna move over and pick up the south
side of Paarland, which I didn't have before Troy Nals
had that. And I'll then go up north across to
eighty eight or how many people know the map, and
I'll pick up five precincts in Fort Ben County. For
them are Democrat, Fort Bend County for them are Democrat.
(05:28):
One is Republican. Now what that does is it helps
Troy Nails. Most people are not going to know this,
but Fort Ben County has over eight million people. It
is really massive. So Troy Nails now is going to
come down along to eighty eight. He's gonna get all
the southern half of Missouri County that I had most
of actually probably two thirds. I mean fourteen. District fourteen
(05:51):
has has seven ports, more than the other memory of Congress.
Some have four, we have seven. Troy's going to get
one of our seven ports, so now we're gonna have six.
Speaker 6 (06:00):
So most of what's being redrawn is going to be
more of the use in side of the Golden Triangle
is going to be largely unaffected by this.
Speaker 7 (06:06):
Correct, Well, Brian Bavin is going to take some people
from Beaumont area from us. Like I said, we're getting
up into Parland where we weren't before. And then of
course we're going over four p You know, I don't
I can't give you the exact parameters, but just think
of it this way.
Speaker 6 (06:21):
We'll put it on our website later.
Speaker 7 (06:22):
Right, you talked about Jeffer You talk about Liberty County
coming southeast right below that Harrison County as he's going west,
and he's going to come across Beaumont there as he's
headed that direction. He had to. He had twenty five
thousand people in the Beaumont area before redistrict. He's now
picking up more.
Speaker 6 (06:40):
Okay, but well he was actually not so much Mamont.
He was more than a hardened count absolutely right, Liberty
jeff Okay, So Jefferson County is larger than just remains
within here, is correct?
Speaker 7 (06:49):
Uh, probably I'd have to do the numbers on it.
I wouldn't be he may have a third I don't
think he has a half. We haven't run the numbers.
We've been studying the maps every time I try to
print one.
Speaker 6 (07:00):
Maybe we literally spring this on you.
Speaker 7 (07:01):
We were just trying to figure out what that was.
Speaker 6 (07:04):
So let's talk about transition to this little part of it,
because you brought up you know, this was basically the
administration talking about and potentially saving the midterms next year,
which I mean, we got what a plus three majority
in the House. That's pretty precarious for a midterm year,
and the second cycle of president. Numbers aren't earning a
favor there. Okay, this changes the map. Obviously, in changed
(07:25):
the game a little bit because I've seen where Sean
Trendy was even predicting it possible plus twenty swing towards Republicans.
If you know, the fifteen states involved we're talking about
redistriing all got into it because, like you said, I mean,
California has already milked that turn it for all it's worth.
We don't have a single seat on the easterner seaboard
and up in New England, I mean, and why okay,
(07:46):
because of redisharying. So the point I wanted to get
to is it seemed to me the argument that was made.
It was a little disingenuous because we just came out
and said, hey, we're just trying to regain five Republican seats,
when there was a far better argument I thought out there,
because we brought this up on the show last week
or two weeks ago, was Texas is unique in that,
(08:08):
out of all the states of the Union, we've experienced
the largest and most seismic growth to our state that
an actual mid decade redistrict actually makes sense for our
state because we've had so much growth from outside the state,
and we've had so much of a political shift in
our state, it actually does make sense to redistrict at
the five instead of the zero.
Speaker 7 (08:29):
Absolutely it does, Jeff. And not only that, but it's lawful.
The Democrats, of course, they left for what was it,
two weeks or whatever. Then they come back in the
Senate boats eighteen to eleven, and then they complained, oh,
we had no input in it. Well, you left town.
You're crazy people.
Speaker 8 (08:45):
You left.
Speaker 6 (08:46):
Well that was an object of scoring around here. Obviously
in fun of.
Speaker 7 (08:51):
That, Absolutely it makes sense they didn't want to recognize that.
They wanted to If anything, they wanted to get more
Democrat seats. That's what there were.
Speaker 6 (08:59):
Wells Texas Democrats. This is the national plan. I mean basically,
anytime Democrats are into the trouble, they're running like squirrels
for the nearest tree. But you know, granted, I know
they're all nuts, but it's there. There is a problem with,
you know, abandoning your district or abandoning your state at
a time when in special session. The first thing that
was on our special session was not redistricting, it was
(09:23):
the flooding and the cataclysmic event in West Texas where
I mean we had what was it four local children die?
Speaker 9 (09:30):
Was it four?
Speaker 7 (09:31):
Or here? And then yeah, just here and some more
part of the district.
Speaker 6 (09:34):
Yeah, when I say local, obviously we're talking about But
my point of that is it's one thing when you
take an oath, you're not there for political victory, Okay,
You're actually there to represent people who may or may
not even agree with you at all times.
Speaker 10 (09:48):
Okay.
Speaker 6 (09:49):
And I think you've done pretty good job on this.
We'll have more with Congressman Weber on next week's show.
Up next, it's the economy. Right after this, were just trying.
Speaker 4 (09:57):
To turn a neckel into a die that's the bottom line.
Speaker 1 (10:03):
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Speaker 11 (11:01):
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Speaker 1 (12:02):
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Speaker 2 (13:44):
We're just trying to turn an ekul into what time.
Speaker 3 (13:48):
That's the bottom line below.
Speaker 6 (13:55):
Now from now, we're back with that's the bottom line.
(14:22):
I'm Jeff Lewis onto this week's top economic news. FED
chairman Jerome Powell conceded at the Jackson Hole Summit that
the terrorists appeared to be merely a one time adjustment
the crisis, despite his previous insistence that terrorist would be
highly inflationary. He even admitted that the one time adjustment
could itself be largely mitigated by foreign companies absorbing the
(14:45):
cost of the terrifs themselves instead of passing them on
to American consumers. Wow, it seems mister Powell finally started
tuning into our show, because we've been saying that for
months now, as you are loyal listeners know all too well.
So it seems now that it is no longer a
question of whether interest rates will be cut in September,
(15:07):
but by how much. While most analysts expect a conservative
cut of just twenty five basis points, or a quarter
of a percent, a push for an even more aggressive
cut is building up steam. Peter Navarro advocated this week
for a full percentage cut one hundred basis points, as
did James Bullard, former president of the Saint Louis Federal Reserve,
(15:29):
in these comments on Bloomberg.
Speaker 12 (15:31):
I have set one hundred basis points, you know, going
into twenty twenty six, so I think you could adjust
as you go forward.
Speaker 6 (15:40):
The market rallied on the news this week, alongside revised
Q two data that moved GDP even higher to a
three point three percent growth. Charles Pain said on his
show on Fox Business that the impact of these tariffs
are challenging even some of the basic assumptions of the
economic theories we were all taught back in call.
Speaker 13 (16:00):
I got to tell you, I came away thinking that
Jay Powell, he's kind of dealing with realities, right. Things
aren't written into textbooks that necessarily pertain today. You have
two hundred year old economic theories that don't necessarily apply
completely today. This political rhetoric that's aging, There's.
Speaker 2 (16:14):
So many things.
Speaker 13 (16:15):
So maybe just maybe he cracked the.
Speaker 6 (16:18):
Current code, because in the end, theories are just models
of how we think things really are. In reality, people
are people, and people have a funny way of doing
things you may not expect. Case in point, this week,
President Trump announced that the government purchased a ten percent
(16:38):
ownership position in chip manufacturer Intel. This prompted a whole
new line of criticism, with Katie Turre over at MSNBC
or whatever it's called now asking this question, is Trump
a socialist?
Speaker 14 (16:56):
Here's a question, is President Trump a socialist? So far
in second term he has he has approved a US
chip sale to China in exchange for fifteen percent of Profits,
signed off on the sale of US Steel in return
for a government golden share, strong armed law firms into
providing free services to his administration, told companies like Walmart
(17:18):
to eat the costs of tariffs, secured a ten percent
government stake in Intel just the other day, and now
today Commerce Secretary Howard Lutnek said the Pentagon is weighing
equity stakes in defense contractors.
Speaker 6 (17:34):
Okay, so that's a pretty big gauntlet to throw down,
and the argument has been gaining traction am all members
of boat parties. After all, wasn't it conservative Republicans who
were so against the government takeover of General Motors back
in two thousand and nine, with Obama using tart to
get a sixty percent controlling interest in GM, we decried
the bailout. Then isn't this basically the same thing. That's
(17:58):
a fair argument and encounter it this way. A ten
percent minority position in Intel compared to a sixty percent
majority stake in GM are two very different themes. In
the latter case, Obama replaced the entire board of directors
of GM with people appointed by the Treasury Department, so
the level of government and interference and INTEL pales in
(18:21):
comparison to what was done in the past, and I
must grudgingly concede the taxpayer one on the exchange. By
the time the government surrendered its final positions of GM
in twenty thirteen, it's still prompted White House correspondent Phil
Wegman to ask this question to the President in the
Oval Office.
Speaker 15 (18:42):
During the campaign, you call it Tamala Harris a communist,
but the Biden Harris administration they never called for nationalizing
a private company with the federal government like you're proposing
with Intel. What do you say to some who say
this is a bit hypocritical and is this the new
way of doing a.
Speaker 9 (19:00):
Through a policy.
Speaker 8 (19:00):
Yeah, I assure it is. I want to try and
get as much as I can and people come in
and they need something. As an example, as a real
estate person, if I have an agreement and I have
any form of a stop gap where I can stop
somebody from doing something, right, I have a covenant and
an agreement, and they come to me and they say,
(19:21):
I would like you to I would like to do something,
but you have us restricted. If I do that, they
usually have to pay. Now, in the case of Intel,
was interesting, but I hope I'm gonna have many more
cases like it. Intel came in. I met with a gentleman.
I had a lot of respect for him. He came
in under a little bit of a cloud. I liked
(19:42):
his story. I thought he was good. I think he
really means to do a good job with Intel. I said,
I'd like to ask whether or not you'd give the
United give you know, because a lot of people said
I invested in Intel. I didn't invest, but I invest
my heart in it and my soul because I I
want the country to be strong. But I said, I'd
(20:03):
like you to give ten percent of Intel to the
United States of America, not to me, to the United
States of America. And I said, if you have them
as a partner, you have the United States as a partner.
I think that would be a very good thing for Intel.
Speaker 16 (20:16):
And he thought about it a little bit different than
he said, I like that idea very much. We have
a deal, and that's I just made ten billion dollars
or eleven billion dollars for the United States of America.
Speaker 6 (20:27):
Now, the pushback slightly against the President's remarks, this wasn't
exactly a gift, President Biden. If you'll recall had already
sent this money out the door into form of grants
to Intel without getting a thing in return. So this
was Trump's way of calling the money back, just in
the form of shares of Intel. Treasury Secretary Bessant explains.
Speaker 10 (20:49):
President Trump is going to be the only president in
modern times who creates assets for the American people rather
than debt. And we look, he saw that Intel had
been given grants and wanted to know why the American
taxpayer wouldn't participate in the upside. So there's eleven billion
(21:13):
of immediate value.
Speaker 6 (21:14):
And I still this shift in the industrial policy is
raising operas. Rcp's Carl Cannon offered this.
Speaker 9 (21:20):
Objection, the idea that the private sector needs help from
the government. You know, they need help in lowering trade barriers,
they need help in doing these kinds of things. But
public ownership of private companies is something to me that
that just hasn't worked very well anywhere it's been tried.
Speaker 6 (21:37):
Actually, Carl, that's not true at all, even though it's
never been American tradition. Even outright nationalization of critical industries
happens to all the time in democracies all over the world.
Take Brazilient old company Petro bross a court of its
shares owned by the government, and their dividends go straight
through the treasury. There's no reason kill can't do the
same thing for us. Geen Valerani after this, we're just trying.
Speaker 2 (21:58):
To turn a necklin.
Speaker 4 (22:00):
That's the bottom line. We're just trying to turn ankel
into a dime. That's the bottom line.
Speaker 12 (22:12):
Welcome back, you're listening to that's the bottom line. You're
weekly broadcast on KLVII. That tells it like it is.
This is Gene Ballerai reporting, Well, here's the big deal
going on right now. Earlier this week, Kilmar Alboreco Garcia,
who you may remember, was deported to a prison in
(22:33):
Central America, only then to become a cause celebri for
the Democrats. That means that he was just their their
penna poster. I guess the Democrats succeeded in getting him
freed from a prison in l Salvador and flown back
to the United States, where he's been locked up again
(22:53):
and scheduled to be deported originally to Uganda to wait
his trial back the United States, but a Democrat judge
is blocking is his deportation. Though in case you forgot.
Now listen carefully. Mister Garcia's background. Among the crime of
(23:14):
crossing the border illegally is that he allegedly beats women
and young girls that he forces into prostitution. He's allegedly
committed murder, and he also transported many young females illegally
to the US to serve as prostitutes. Obviously, for today's
(23:36):
modern Democrat politicians, he's their kind of guy.
Speaker 7 (23:40):
Yah.
Speaker 12 (23:41):
He's in jail now and as far as we know,
he will either remain in jail or be deported to Uganda,
where he will then be brought back to stand trial
in the United States for human trafficking and also, lest
we forget, for beating his wife. But for the Democrats,
he's a fine fellow, deserves every courtesy available for the
(24:05):
crimes of murder, kidnapping, and beating the women he holds captives.
And one would think that the elected Democrats and judges
would not want to be known for such behavior. But
then I forgot. Today's Democrat party is no longer your
grandfather's Democrat party. There's a little doubt in my mind
(24:28):
the Democrat politicians in Washington, d C. Have forgotten their
supposed they're supposed to represent we, the American people. But
one must ask, how can such behavior continue? And how
long will the American people awaken to what the Democrat
(24:48):
have become and who are they representing up there in Washington,
d C. Obviously they've forgotten their constituents back home. I
would imagine New York City, for example. They have this
young thirty three year old communist seeking to be elected
mayor of New York City. His name is do Ruanda Mandami.
(25:13):
I said, they're right, Joe ran Emi Madami, Joe ran Madambi,
I think I got it that right this time. They
say he's leading in the polls and denying he's a
communist but claiming rather to be a socialist. Then New
York City, among other things, is the epitome of wealth, entertainment,
(25:33):
and financial enterprise. So what's a communist doing to be
elected there? All that will quickly end if this guy wins.
But so far it looks like he's the leading candidate
to become the next mayor of New York. It's almost
It's also supposed to be the financial capital of the world,
(25:54):
New York City, So I suppose if Mandemi wins, we
will this the financial capital of the world come crashing down.
And this is what happens when capitalism takes a back
seat to communism. And I have a feeling if Mandami
destroys New York's financial system, there'll be a bee line
(26:16):
for Texas. In case you didn't know it, Dallas, Texas
is becoming an investment center nowadays and may well end
up being the financial capital of the United States before
it's all over with now. I remember many years ago,
when I was young, hearing there's no such thing as
a free lunch. So obviously left wing pro communist politicians
(26:40):
will try to destroy our way of life as Americans.
But even if New York collapses collapses, if New York collapses,
it doesn't mean Texas will follow suit. But where were
all those wealthy New Yorkers flee to New York City
turns communists? And when you think about that, must must
(27:01):
make one wonder what the future holds. The entire history
of mankind suggests that we earth things. Well, for we earthings,
it's all about our survival of the fitness. So I
guess as Mandami succeeds in destroying New York City on
a mad man's dreamlike communism, socialism and any other such isms,
(27:29):
the future will be bleak, but I wouldn't worry too much.
In America. We don't have any rivers across anymore to
seek our fortunes. But then what we do have is
galaxies out there with new worlds waiting to be discovered.
And someday, I suppose historians will write numerous books about
(27:54):
the United States. But as they say, we're still a
work in progress. And I guess that's truly the truly
the bottom line. So here we go on a on
a new adventure, ladies and gentlemen. This business with this
za dammy guy in uh Mandamni, however he says it's
(28:16):
his name in New York City. He's the He's the
guy that wants to bring socialism to the United States,
and uh I doubt that he'll succeed. But then again,
he may succeed, and if he does, New York, I
(28:36):
guess will no longer be the financial capital of the
United States. I guess that'll next. The next stop will
be Dallas, Texas, and then beyond that, who knows, We'll
be back with much more for you to digest. Right
after this.
Speaker 4 (28:54):
We're just trying to turn a nickel into a dime.
That's the bottom.
Speaker 1 (28:58):
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Speaker 6 (30:13):
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Speaker 2 (31:06):
We're just trying to turn a nickel into a dime.
That's the bottom.
Speaker 12 (31:10):
Welcome back, ladies and gentlemen you're listening to. That's the
bottom line. Your weekly broadcast on tail the eye that
tells it like it is. This is Gene Valerine Reporting
and as we do each week, at this time, we
want to offer you a solution to your investing or
(31:33):
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Speaker 2 (38:05):
Where's Josh trying to turn a neckel in?
Speaker 16 (38:08):
What?
Speaker 4 (38:09):
That's the bottom line. Where's Josh trying to turn a
neckel in to what?
Speaker 3 (38:18):
That's the bottom line?
Speaker 6 (38:35):
Thank you for listening today. That that's the bottom line.
All of our broadcasts are available on demand online at
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(39:19):
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(40:44):
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. Thanks once again to
our Congressman Randy Weber for joining us this week, and
we look forward to sharing more of our conversation with
you next week. If you want to hear the whole
interview in its glorious entirety, simply go to our website
(41:08):
by searching for Save my Retirement Radio and click the link.
I'm Jeff Lewis for Jean Valerani and everyone here at
Asset Growth Associates. Remember that you are greatly blessed and
highly favored because as always, that's the bottom line.
Speaker 2 (41:30):
That's the bottom line.
Speaker 4 (41:33):
You can reach Asset Growth Associates by calling one eight
six six seven to eight thirty six ninety seven are
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investment advisor in the state of Texas.
Speaker 2 (01:31):
We're just trying to turn anchel into a time.
Speaker 3 (01:35):
That's the bottom line.
Speaker 4 (01:43):
Welcome to real honest talk about money, politics, use and
information you can actually use.
Speaker 2 (01:50):
Buckle up and hold on type this is.
Speaker 5 (01:53):
That's the bottom line.
Speaker 2 (01:59):
The best thing.
Speaker 5 (02:02):
But you can give them to the bed and burning everybody.
Speaker 6 (02:15):
In happy later day weekend. This is and that's the
bottom line. I'm your host, Jeff Lewis the Asset Growth Associates,
along with Jean Valerani. Thanks for sharing part of your
long weekend with us. Our top line story this week
focused once again on reditioning, and on that note, we
sat down this week with the Honorable Randy Weber, Representative
(02:37):
of the Congress for the fourteenth Thirshik of Texas, which
includes many of us right here in the Golden Triangle.
The Congressman was gracious enough to spend forty minutes in
conversation with us about a whole range of issues. We've
got the entire interview on our website, Saved my Retirement
dot com, but here's part of that conversation. My first
question to the congressman was how the new maps would
(02:58):
affect the district lines right here in southeast Texas.
Speaker 7 (03:01):
Well, I want to remind everybody my beautiful bride is
from Needle in Texas. So she's here and she's right here, witness. Actually,
we've watched the Gulf Coast of Texas. As I said earlier,
I've served four years in the Texas House before I
got demoted to Congress, and so we've watched this area grow.
Brenda grew up on the east side of the District fourteen.
I grew up the south on the Parilan kind of
(03:23):
the Bassouria County side of the district. Laws are from there, yeah, right,
so we know that area quite well. The theme here
was that Texas is an extremely red state and we
if you followed the voting patterns from the last presidential election,
we should have had more Republican districts than we had.
(03:43):
And so the lawyers and the White House got together.
They made sure that all the laws were passed, voting right,
attacks followed. Everything was copesthetic, if you will, and so
they said we should have five more districts, and so
that's what they've done. They've said about drawing that map
the Texas delegation. You remember, there's twenty five members of
the Texas House and of course thirteen members of the
(04:06):
other side. And so what we did was we got
with our lawyer and we said, okay, all of our
discussion about the actual gets of the process that it's
going to work, we're going to keep between ourselves because
that way we had client attorney client privilege in case
somebody want to say, we y'all plan on going race
that y'all plan on this ship. No, we didn't either.
(04:26):
That's stupid, you know. So we watched it for a while. Yes,
it changes the districts. Yes, you're going to see some districts,
District fourteen, for example, go from about a sixty four
percent RU factor down to probably sixty percent. But you're
still talking sixty.
Speaker 6 (04:43):
So what did we lose in terms of what's in
our district? The mass was very very similar on our end.
Speaker 7 (04:48):
Right, Well, doctor bad and good friend of mine actually,
as you know, had East Texas. You mentioned East Texas
District thirty six. He had a higher r value than
I did. He's going to he's losing Liberty County. He's
going to come down across the top side of Galveston County.
I'm sorry to get Harris County, the bocomcot of Harris County,
and pick up Parland where I actually grew up on
(05:08):
the north side of Parland. And then my district is
gonna it's gonna move over and pick up the south
side of Paarland, which I didn't have before Troy Nals
had that. And I'll then go up north across to
eighty eight or how many people know the map, and
I'll pick up five precincts in Fort Ben County. For
them are Democrat, Fort Bend County for them are Democrat.
(05:28):
One is Republican. Now what that does is it helps
Troy Nails. Most people are not going to know this,
but Fort Ben County has over eight million people. It
is really massive. So Troy Nails now is going to
come down along to eighty eight. He's gonna get all
the southern half of Missouri County that I had most
of actually probably two thirds. I mean fourteen. District fourteen
(05:51):
has has seven ports, more than the other memory of Congress.
Some have four, we have seven. Troy's going to get
one of our seven ports, so now we're gonna have six.
Speaker 6 (06:00):
So most of what's being redrawn is going to be
more of the use in side of the Golden Triangle
is going to be largely unaffected by this.
Speaker 7 (06:06):
Correct, Well, Brian Bavin is going to take some people
from Beaumont area from us. Like I said, we're getting
up into Parland where we weren't before. And then of
course we're going over four p You know, I don't
I can't give you the exact parameters, but just think
of it this way.
Speaker 6 (06:21):
We'll put it on our website later.
Speaker 7 (06:22):
Right, you talked about Jeffer You talk about Liberty County
coming southeast right below that Harrison County as he's going west,
and he's going to come across Beaumont there as he's
headed that direction. He had to. He had twenty five
thousand people in the Beaumont area before redistrict. He's now
picking up more.
Speaker 6 (06:40):
Okay, but well he was actually not so much Mamont.
He was more than a hardened count absolutely right, Liberty
jeff Okay, So Jefferson County is larger than just remains
within here, is correct?
Speaker 7 (06:49):
Uh, probably I'd have to do the numbers on it.
I wouldn't be he may have a third I don't
think he has a half. We haven't run the numbers.
We've been studying the maps every time I try to
print one.
Speaker 6 (07:00):
Maybe we literally spring this on you.
Speaker 7 (07:01):
We were just trying to figure out what that was.
Speaker 6 (07:04):
So let's talk about transition to this little part of it,
because you brought up you know, this was basically the
administration talking about and potentially saving the midterms next year,
which I mean, we got what a plus three majority
in the House. That's pretty precarious for a midterm year,
and the second cycle of president. Numbers aren't earning a
favor there. Okay, this changes the map. Obviously, in changed
(07:25):
the game a little bit because I've seen where Sean
Trendy was even predicting it possible plus twenty swing towards Republicans.
If you know, the fifteen states involved we're talking about
redistriing all got into it because, like you said, I mean,
California has already milked that turn it for all it's worth.
We don't have a single seat on the easterner seaboard
and up in New England, I mean, and why okay,
(07:46):
because of redisharying. So the point I wanted to get
to is it seemed to me the argument that was made.
It was a little disingenuous because we just came out
and said, hey, we're just trying to regain five Republican seats,
when there was a far better argument I thought out there,
because we brought this up on the show last week
or two weeks ago, was Texas is unique in that,
(08:08):
out of all the states of the Union, we've experienced
the largest and most seismic growth to our state that
an actual mid decade redistrict actually makes sense for our
state because we've had so much growth from outside the state,
and we've had so much of a political shift in
our state, it actually does make sense to redistrict at
the five instead of the zero.
Speaker 7 (08:29):
Absolutely it does, Jeff. And not only that, but it's lawful.
The Democrats, of course, they left for what was it,
two weeks or whatever. Then they come back in the
Senate boats eighteen to eleven, and then they complained, oh,
we had no input in it. Well, you left town.
You're crazy people.
Speaker 8 (08:45):
You left.
Speaker 6 (08:46):
Well that was an object of scoring around here. Obviously
in fun of.
Speaker 7 (08:51):
That, Absolutely it makes sense they didn't want to recognize that.
They wanted to If anything, they wanted to get more
Democrat seats. That's what there were.
Speaker 6 (08:59):
Wells Texas Democrats. This is the national plan. I mean basically,
anytime Democrats are into the trouble, they're running like squirrels
for the nearest tree. But you know, granted, I know
they're all nuts, but it's there. There is a problem with,
you know, abandoning your district or abandoning your state at
a time when in special session. The first thing that
was on our special session was not redistricting, it was
(09:23):
the flooding and the cataclysmic event in West Texas where
I mean we had what was it four local children die?
Speaker 9 (09:30):
Was it four?
Speaker 7 (09:31):
Or here? And then yeah, just here and some more
part of the district.
Speaker 6 (09:34):
Yeah, when I say local, obviously we're talking about But
my point of that is it's one thing when you
take an oath, you're not there for political victory, Okay,
You're actually there to represent people who may or may
not even agree with you at all times.
Speaker 10 (09:48):
Okay.
Speaker 6 (09:49):
And I think you've done pretty good job on this.
We'll have more with Congressman Weber on next week's show.
Up next, it's the economy. Right after this, were just trying.
Speaker 4 (09:57):
To turn a neckel into a die that's the bottom line.
Speaker 1 (10:03):
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Speaker 11 (11:01):
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is Gene Valeranti of Asset Growth Associates. What is principal protection?
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An easy way to remember that is one eight six
(11:45):
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be it's the lad that you did.
Speaker 1 (12:02):
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Speaker 2 (13:44):
We're just trying to turn an ekul into what time.
Speaker 3 (13:48):
That's the bottom line below.
Speaker 6 (13:55):
Now from now, we're back with that's the bottom line.
(14:22):
I'm Jeff Lewis onto this week's top economic news. FED
chairman Jerome Powell conceded at the Jackson Hole Summit that
the terrorists appeared to be merely a one time adjustment
the crisis, despite his previous insistence that terrorist would be
highly inflationary. He even admitted that the one time adjustment
could itself be largely mitigated by foreign companies absorbing the
(14:45):
cost of the terrifs themselves instead of passing them on
to American consumers. Wow, it seems mister Powell finally started
tuning into our show, because we've been saying that for
months now, as you are loyal listeners know all too well.
So it seems now that it is no longer a
question of whether interest rates will be cut in September,
(15:07):
but by how much. While most analysts expect a conservative
cut of just twenty five basis points, or a quarter
of a percent, a push for an even more aggressive
cut is building up steam. Peter Navarro advocated this week
for a full percentage cut one hundred basis points, as
did James Bullard, former president of the Saint Louis Federal Reserve,
(15:29):
in these comments on Bloomberg.
Speaker 12 (15:31):
I have set one hundred basis points, you know, going
into twenty twenty six, so I think you could adjust
as you go forward.
Speaker 6 (15:40):
The market rallied on the news this week, alongside revised
Q two data that moved GDP even higher to a
three point three percent growth. Charles Pain said on his
show on Fox Business that the impact of these tariffs
are challenging even some of the basic assumptions of the
economic theories we were all taught back in call.
Speaker 13 (16:00):
I got to tell you, I came away thinking that
Jay Powell, he's kind of dealing with realities, right. Things
aren't written into textbooks that necessarily pertain today. You have
two hundred year old economic theories that don't necessarily apply
completely today. This political rhetoric that's aging, There's.
Speaker 2 (16:14):
So many things.
Speaker 13 (16:15):
So maybe just maybe he cracked the.
Speaker 6 (16:18):
Current code, because in the end, theories are just models
of how we think things really are. In reality, people
are people, and people have a funny way of doing
things you may not expect. Case in point, this week,
President Trump announced that the government purchased a ten percent
(16:38):
ownership position in chip manufacturer Intel. This prompted a whole
new line of criticism, with Katie Turre over at MSNBC
or whatever it's called now asking this question, is Trump
a socialist?
Speaker 14 (16:56):
Here's a question, is President Trump a socialist? So far
in second term he has he has approved a US
chip sale to China in exchange for fifteen percent of Profits,
signed off on the sale of US Steel in return
for a government golden share, strong armed law firms into
providing free services to his administration, told companies like Walmart
(17:18):
to eat the costs of tariffs, secured a ten percent
government stake in Intel just the other day, and now
today Commerce Secretary Howard Lutnek said the Pentagon is weighing
equity stakes in defense contractors.
Speaker 6 (17:34):
Okay, so that's a pretty big gauntlet to throw down,
and the argument has been gaining traction am all members
of boat parties. After all, wasn't it conservative Republicans who
were so against the government takeover of General Motors back
in two thousand and nine, with Obama using tart to
get a sixty percent controlling interest in GM, we decried
the bailout. Then isn't this basically the same thing. That's
(17:58):
a fair argument and encounter it this way. A ten
percent minority position in Intel compared to a sixty percent
majority stake in GM are two very different themes. In
the latter case, Obama replaced the entire board of directors
of GM with people appointed by the Treasury Department, so
the level of government and interference and INTEL pales in
(18:21):
comparison to what was done in the past, and I
must grudgingly concede the taxpayer one on the exchange. By
the time the government surrendered its final positions of GM
in twenty thirteen, it's still prompted White House correspondent Phil
Wegman to ask this question to the President in the
Oval Office.
Speaker 15 (18:42):
During the campaign, you call it Tamala Harris a communist,
but the Biden Harris administration they never called for nationalizing
a private company with the federal government like you're proposing
with Intel. What do you say to some who say
this is a bit hypocritical and is this the new
way of doing a.
Speaker 9 (19:00):
Through a policy.
Speaker 8 (19:00):
Yeah, I assure it is. I want to try and
get as much as I can and people come in
and they need something. As an example, as a real
estate person, if I have an agreement and I have
any form of a stop gap where I can stop
somebody from doing something, right, I have a covenant and
an agreement, and they come to me and they say,
(19:21):
I would like you to I would like to do something,
but you have us restricted. If I do that, they
usually have to pay. Now, in the case of Intel,
was interesting, but I hope I'm gonna have many more
cases like it. Intel came in. I met with a gentleman.
I had a lot of respect for him. He came
in under a little bit of a cloud. I liked
(19:42):
his story. I thought he was good. I think he
really means to do a good job with Intel. I said,
I'd like to ask whether or not you'd give the
United give you know, because a lot of people said
I invested in Intel. I didn't invest, but I invest
my heart in it and my soul because I I
want the country to be strong. But I said, I'd
(20:03):
like you to give ten percent of Intel to the
United States of America, not to me, to the United
States of America. And I said, if you have them
as a partner, you have the United States as a partner.
I think that would be a very good thing for Intel.
Speaker 16 (20:16):
And he thought about it a little bit different than
he said, I like that idea very much. We have
a deal, and that's I just made ten billion dollars
or eleven billion dollars for the United States of America.
Speaker 6 (20:27):
Now, the pushback slightly against the President's remarks, this wasn't
exactly a gift, President Biden. If you'll recall had already
sent this money out the door into form of grants
to Intel without getting a thing in return. So this
was Trump's way of calling the money back, just in
the form of shares of Intel. Treasury Secretary Bessant explains.
Speaker 10 (20:49):
President Trump is going to be the only president in
modern times who creates assets for the American people rather
than debt. And we look, he saw that Intel had
been given grants and wanted to know why the American
taxpayer wouldn't participate in the upside. So there's eleven billion
(21:13):
of immediate value.
Speaker 6 (21:14):
And I still this shift in the industrial policy is
raising operas. Rcp's Carl Cannon offered this.
Speaker 9 (21:20):
Objection, the idea that the private sector needs help from
the government. You know, they need help in lowering trade barriers,
they need help in doing these kinds of things. But
public ownership of private companies is something to me that
that just hasn't worked very well anywhere it's been tried.
Speaker 6 (21:37):
Actually, Carl, that's not true at all, even though it's
never been American tradition. Even outright nationalization of critical industries
happens to all the time in democracies all over the world.
Take Brazilient old company Petro bross a court of its
shares owned by the government, and their dividends go straight
through the treasury. There's no reason kill can't do the
same thing for us. Geen Valerani after this, we're just trying.
Speaker 2 (21:58):
To turn a necklin.
Speaker 4 (22:00):
That's the bottom line. We're just trying to turn ankel
into a dime. That's the bottom line.
Speaker 12 (22:12):
Welcome back, you're listening to that's the bottom line. You're
weekly broadcast on KLVII. That tells it like it is.
This is Gene Ballerai reporting, Well, here's the big deal
going on right now. Earlier this week, Kilmar Alboreco Garcia,
who you may remember, was deported to a prison in
(22:33):
Central America, only then to become a cause celebri for
the Democrats. That means that he was just their their
penna poster. I guess the Democrats succeeded in getting him
freed from a prison in l Salvador and flown back
to the United States, where he's been locked up again
(22:53):
and scheduled to be deported originally to Uganda to wait
his trial back the United States, but a Democrat judge
is blocking is his deportation. Though in case you forgot.
Now listen carefully. Mister Garcia's background. Among the crime of
(23:14):
crossing the border illegally is that he allegedly beats women
and young girls that he forces into prostitution. He's allegedly
committed murder, and he also transported many young females illegally
to the US to serve as prostitutes. Obviously, for today's
(23:36):
modern Democrat politicians, he's their kind of guy.
Speaker 7 (23:40):
Yah.
Speaker 12 (23:41):
He's in jail now and as far as we know,
he will either remain in jail or be deported to Uganda,
where he will then be brought back to stand trial
in the United States for human trafficking and also, lest
we forget, for beating his wife. But for the Democrats,
he's a fine fellow, deserves every courtesy available for the
(24:05):
crimes of murder, kidnapping, and beating the women he holds captives.
And one would think that the elected Democrats and judges
would not want to be known for such behavior. But
then I forgot. Today's Democrat party is no longer your
grandfather's Democrat party. There's a little doubt in my mind
(24:28):
the Democrat politicians in Washington, d C. Have forgotten their
supposed they're supposed to represent we, the American people. But
one must ask, how can such behavior continue? And how
long will the American people awaken to what the Democrat
(24:48):
have become and who are they representing up there in Washington,
d C. Obviously they've forgotten their constituents back home. I
would imagine New York City, for example. They have this
young thirty three year old communist seeking to be elected
mayor of New York City. His name is do Ruanda Mandami.
(25:13):
I said, they're right, Joe ran Emi Madami, Joe ran Madambi,
I think I got it that right this time. They
say he's leading in the polls and denying he's a
communist but claiming rather to be a socialist. Then New
York City, among other things, is the epitome of wealth, entertainment,
(25:33):
and financial enterprise. So what's a communist doing to be
elected there? All that will quickly end if this guy wins.
But so far it looks like he's the leading candidate
to become the next mayor of New York. It's almost
It's also supposed to be the financial capital of the world,
(25:54):
New York City, So I suppose if Mandemi wins, we
will this the financial capital of the world come crashing down.
And this is what happens when capitalism takes a back
seat to communism. And I have a feeling if Mandami
destroys New York's financial system, there'll be a bee line
(26:16):
for Texas. In case you didn't know it, Dallas, Texas
is becoming an investment center nowadays and may well end
up being the financial capital of the United States before
it's all over with now. I remember many years ago,
when I was young, hearing there's no such thing as
a free lunch. So obviously left wing pro communist politicians
(26:40):
will try to destroy our way of life as Americans.
But even if New York collapses collapses, if New York collapses,
it doesn't mean Texas will follow suit. But where were
all those wealthy New Yorkers flee to New York City
turns communists? And when you think about that, must must
(27:01):
make one wonder what the future holds. The entire history
of mankind suggests that we earth things. Well, for we earthings,
it's all about our survival of the fitness. So I
guess as Mandami succeeds in destroying New York City on
a mad man's dreamlike communism, socialism and any other such isms,
(27:29):
the future will be bleak, but I wouldn't worry too much.
In America. We don't have any rivers across anymore to
seek our fortunes. But then what we do have is
galaxies out there with new worlds waiting to be discovered.
And someday, I suppose historians will write numerous books about
(27:54):
the United States. But as they say, we're still a
work in progress. And I guess that's truly the truly
the bottom line. So here we go on a on
a new adventure, ladies and gentlemen. This business with this
za dammy guy in uh Mandamni, however he says it's
(28:16):
his name in New York City. He's the He's the
guy that wants to bring socialism to the United States,
and uh I doubt that he'll succeed. But then again,
he may succeed, and if he does, New York, I
(28:36):
guess will no longer be the financial capital of the
United States. I guess that'll next. The next stop will
be Dallas, Texas, and then beyond that, who knows, We'll
be back with much more for you to digest. Right
after this.
Speaker 4 (28:54):
We're just trying to turn a nickel into a dime.
That's the bottom.
Speaker 1 (28:58):
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Speaker 6 (30:13):
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Speaker 2 (31:06):
We're just trying to turn a nickel into a dime.
That's the bottom.
Speaker 12 (31:10):
Welcome back, ladies and gentlemen you're listening to. That's the
bottom line. Your weekly broadcast on tail the eye that
tells it like it is. This is Gene Valerine Reporting
and as we do each week, at this time, we
want to offer you a solution to your investing or
(31:33):
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And that's why we offer these contracts. And for decades now,
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listen to me carefully, having available money in a n
est nag helps and when you think about this time
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(37:05):
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Speaker 2 (38:05):
Where's Josh trying to turn a neckel in?
Speaker 16 (38:08):
What?
Speaker 4 (38:09):
That's the bottom line. Where's Josh trying to turn a
neckel in to what?
Speaker 3 (38:18):
That's the bottom line?
Speaker 6 (38:35):
Thank you for listening today. That that's the bottom line.
All of our broadcasts are available on demand online at
savemiretirement dot com, or just go to your iHeartRadio app
and search for it. That's the bottom line under the
podcast tab, and remember to add us to favorites. We're
on Facebook at Jeff Lewis. That's the bottom line. Search
(38:56):
for us name and show, and follow us for all
of the latest updates. If you want to schedule an
deployment with us, call our office toll free at eight
sixty six Save my Retirement. Our physical address and full
might is at thirteen ninety one Calder Avenue, a block
from the intersection of MLK and Calder. Don't forget about
our early tax planning service. We can help you better
(39:19):
plan for your next tax filing and even reduce the
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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. Thanks once again to
our Congressman Randy Weber for joining us this week, and
we look forward to sharing more of our conversation with
you next week. If you want to hear the whole
interview in its glorious entirety, simply go to our website
(41:08):
by searching for Save my Retirement Radio and click the link.
I'm Jeff Lewis for Jean Valerani and everyone here at
Asset Growth Associates. Remember that you are greatly blessed and
highly favored because as always, that's the bottom line.
Speaker 2 (41:30):
That's the bottom line.
Speaker 4 (41:33):
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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