October 23, 2025 • 40 mins
Americans have been trained to be financially dependent on the government. Health premiums, food stamps, paycheck-to-paycheck. These programs did not exist until the 1970s. We need better financial literacy. Bombshell arrests involving gambling and the NBA. Mayor's race in NYC debate last night. Beef prices are high and cattle ranchers are not happy with the President.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:22):
And welcome, Welcome, Welcome to the Big Podcast on this Thursday.
Today is the twenty third day of October, year of
our Lower twenty twenty five. My name is Tom Sullivan.
And interesting topics to float around today. But before we
get to the topics, I mean, we're just I was
(00:43):
just thinking about the last couple of days, some of
the some of the content that we have shared with you.
It's coming back around it. We've got the government workers yesterday,
a number of them in Maryland standing in a lawline
of a couple two hundred and three hundred of them
(01:04):
at a food bank. These are government workers. They're paid well,
they should have some money to go to the grocery store,
but they don't because they obviously, like I mentioned this yesterday,
there's a lot of Americans that are living paycheck to
paycheck and it doesn't matter. Well, I'm sure, I'm sure
(01:26):
at the lower income that you have, the more prone
to basically paycheck to paycheck. But there's also I know
people that make pretty good money and they're doing they
spend everything that they get. They don't safe a time.
So you got the government workers standing in food lines.
You've got yesterday we played John Fetterman just kept coming
(01:49):
back to the point that he says, I'm not here
for my party. I'm a thousand percent I'm a Democrat,
but I'm not here for my party. I'm here for
the people that I represent. And there's two million people
in Pennsylvania that are on food stamps that I represent,
and I'm here to protect them. And I'm going, all right,
(02:09):
two million people. It's a lot of people that you
and I are helping to buy their groceries. And then
I'll give you. I'll give you one more. Is just
off the top of my head. You've got. The fight
about the shutdown is the Democrats put in during the
(02:32):
time of the Biden administration, during COVID, they put in
a subsidy for People's Affordable Care Act for the premiums
because there were a lot of people lost their jobs
during COVID. Okay, so they put it was a lot,
it was a lot of money. It's one and a
half trillion dollars. And that's the fight between the Democrats
(02:55):
and Republicans. The Democrats say we need to renew that
it's going to expire if the end of this year.
They're the ones who said, let's put this temporary subsidy
in and it will expire at the end of twenty
twenty five. Well, back in twenty twenty one, that sounded
like it was future world. Well here we are, and
(03:15):
the Republicans are going it was temporary, it was supposed
to expire. We're going to let it expire. And the
Democrats are going, no, no, no, no, people can't afford
their health insurance. If you do that, and it goes
back again to people can't afford fill in the blank,
they can't afford their insurance premium for the Affordable Care Act. No,
(03:42):
it's not affordable. It hasn't been affordable since day one,
and it's getting worse. And the reason it's getting worse
is the government subsidies drive up the cost of whatever
it is that they're subsidizing, so health care and insurance.
Health insurance for healthcare has gone way up, partially because
(04:05):
of the subsidies. You've got subsidies for students at college.
We're going to give you some money so you can
go to college. The universities have just jacked up the
price of the tuition because they can, because the students don't.
They got the money from the government. They passed it
on to the college. They don't know. So we've got
(04:27):
government workers and food lines. We've got John Fetterman talking
about two million people who are not going to be
able to afford groceries because of SNAP. And you've got
the subsidies for people to afford their premiums of the
Affordable Care Act, and I'm going people are just financially
out of whack. I brought it up yesterday, but I mean,
(04:48):
it really isn't that long ago where we did not
have food stamps, we did not have subsidies at all
for your health insurance, we didn't buy people's groceries, we
did not have food lines for government employees. We're financially
(05:11):
a disaster. Not in a way that the world's going
to crumble, but I mean, there's just we have gone
way off the rails in this country where people have
been basically trained to rely upon the government for their
day today needs. I'm I don't have the answer, because
(05:37):
whatever the answer is, it would take It's taken decades
to get people trained to rely upon the government for
their necessities, and it's going to take decades of people
screaming like they are right now. The Democrats are screaming,
you can't. You can't stop the subsidies that were temporary. No,
(05:58):
you can't do that. And there's going to be a
lot of screaming to get people back to where they
rely upon themselves, their family, their friends, their house of worship, charities.
A lot of charities have gone out of business because
the government has taken over whatever the charity was doing.
(06:21):
So where do we want to start today? I'm just
ranting about I'm just reflecting on the last couple of
days about financial matters that are basic human day to
day needs upon which they people have been trained to
loot to the government. All right, enough of the ranting.
Big story today about the NBA and about the National
(06:46):
Basketball Association, not the NBA itself, but the players that
are in the NBA. And this has been it's been
a while since we've had one of these stories, but
it's an old story about gambling and that professional athletes
getting involved in gambling and the question about the games,
(07:11):
are they legit or are they being thrown? And the
mob is throwing in here as well. Yeah, yeah, the
mob families are involved in this scandal. Caris Scanell is
a reporter that was I believe she's a She may
be a lawyer, but she laid out what happened today,
(07:33):
the FBI, the US Attorney. There was just a fleet
of law enforcement that unveiled this story about the arrest
of a couple of top NBA players and coaches.
Speaker 2 (07:46):
The rest of just happened, and of course, the Miami
Heat guard Terry Rosier and the Chauncey Billups, head coach
of the Portland Trailblazers, have been arrested. A third former
NBA player is also charged. And what law enforcement officials
tell us is that there are two separate schemes here.
One involved like a game rigging scheme that's involved Terry Rosier,
(08:06):
and he allegedly provided information about who was playing in games,
who might be on the injury list to some of
the sports betters that he was involved with, and he
benefited himself financially. According to one official, he bowed out
of a game taking an injury about nine minutes in
to help whatever bet had been placed on that game.
Then there is a separate alleged scheme, and that's the
(08:26):
one that allegedly involves the coat of the Trailblazers, and
in that alleged scheme that also involves three families from
the New York mafia families, Genevez, the Banana and the
Gambino crime families. This is a poker scheme according to sources,
that involved playing Texas HoldEm and that Billips was part
of that scheme, attending these games and according to one official,
(08:51):
his attendance was there to be used as sort of
a distraction to some of the other players who were
playing all part of a poker ring. So two separate
sports getting betting schemes that they're announcing today, and we
will of course learn much greater detail about what all
of this entails next hour, when we do expect to
see the US Attorney for the Eastern District of New York,
(09:11):
the NYPD police chief, as well as FBI Director Cash
Battel kind of laying out the breath of these two
alleged schemes.
Speaker 1 (09:23):
Okay, that was from this morning, and they did have
a news conference, a Cash Betel was there and, like
I said, a whole bunch of law enforcement. It's it's
like a script from a movie that would be turned
down by Hollywood. They apparently the poker part of this
is they had one guy lost one point something million dollars,
(09:43):
So we're talking about big money. We're not talking about
twenty dollars bills here. And this was the charge is
against the head coach of the Trailblazers, Chauncey Billups, that
he was involved in as kind of a draw to
get some sucker to come in. Everybody at the table,
including the dealer, were all in on apparently the scam.
(10:07):
And they used a highly sophisticated card shuffling machine. They
had tables where they played the poker that were X
ray tables so that somebody somewhere could send a signal.
They could read the cards that are faced down on
the table, they could read them from below. It was
It was bizarre. So let's get into a little bit
(10:29):
of a with Cash Petel talking about the arrests that
were made today.
Speaker 3 (10:34):
The fraud is mind boggling. It's not hundreds of dollars,
it's not thousands of dollars. It's not tens of thousands
of dollars. It's not even millions of dollars. We're talking
about tens of millions of dollars in fraud and theft
and robbery across a multi year investigation.
Speaker 1 (10:53):
It's rather confusing because it is multi year and it's
on various athletes. Apparently they're still wrestling them across the
country today, so the number of people that are involved
in this is growing. Christine Brennan, she is a longtime
sports reporter, worked as a column in sports on USA
(11:13):
Today and other places. She was obviously shocked.
Speaker 4 (11:17):
You know, it is huge, and it's almost like when
was this going to happen? Here, it's happened, this bombshell
and of course the time he could not be worse
for the NBA, just starting at season, the Grand Opening,
every team having its first game, just as big a
story as you could have, and then this bombshell drops
right into the middle of it. Of course, as it
(11:38):
should in terms of investigation, national investigation. Of course, you
don't wait for a better time, but for the NBA,
could not be worse. And so yes, on one level,
it's shocking because you just can't believe, especially name like
Chauncey Phillips. If you've even just casually followed the NBA,
you know that name. He's fifty years old, a great career,
(12:01):
a lot with the Detroit Pistons, now a head coach,
he's the leader of the team, and now he is
alleged to have been involved, as as Tara was saying,
in this incredible scandal, again innocent until proven guilty. And
then also a player who's been around, Rosier, who's been
around and drafted first and a few years ago by
the Boston Celtics. So we're not talking about rookies, We're
(12:23):
not talking about people that have not been in the game,
have not heard the rules. I think what happens in
a situation like this is where you have gambling literally
enveloping sports, and we know this every commercial you turn it,
you know, you walk away, you're back. It's something sponsored
by a betting a gambling company, that this is the
(12:45):
kind of thing that is probably a disaster, potential disaster,
alleged disaster waiting to happen. And as I said, I
don't think we should be that shocked, and I don't
think this, sadly will be the last of these kinds
of stories.
Speaker 1 (12:59):
Other been lots of was shouldn't say loss. There have
been sports scandals in the past, with Pete Rose probably
one of them that comes to mind, but a number
of them that that gambling and sports they never have
gone together. But over the last I don't know what
five years, maybe longer, the sports betting business has exploded,
(13:23):
and a fan duel and what's the other one, another
big one out there that they're They're everywhere, They're on radio,
they're on television. They are a huge business. There's a
lot of money in gambling and we're seeing more and
more of it, and it's just, like Christine said, just
a matter of time. I would imagine this is the
(13:44):
tip of the iceberg.
Speaker 4 (13:45):
The idea that something that you want to be able
to trust. Right, the whole foundation of sports is that
what you're watching is real and that there's no funny business,
no shade dealings going on. And if that comes crumbling down,
then potentially, clearly that's a huge issue for the in
terms of any sport. But you had cho Aotan's interpreter
(14:09):
ensnared in something. So that's baseball. As you said, college sports,
these are younger athletes eighteen to twenty two, twenty three
years old, even probably more impressionable and more apt to
be able to be caught in something this terrible.
Speaker 1 (14:22):
Yeah, when this story broke, I thought about the fact
that the NCAA. I get the fact that they finally
came around to the point of where college athletes can
get paid for people buying their jerseys and things like that.
I'm for all of that, but before they could not
work at all. They could not work one hour for
(14:43):
an ice cream shop, nothing. But now they're talking about
letting these college athletes bet on sports. Dambling isn't just
sneaking in. It's not by usmosis. It's crashing into the
world of sports. You know, this is going to damage
(15:03):
people that are want to believe that sports is honest
and true and that the outcome of a sporting event
is based on talent, not on somebody throwing the game.
But I also stopped and thought, wait a minute, these guys.
This one guy that was arrested today, Terry Rosier, he
makes twenty six million dollars a year, twenty six million,
(15:27):
and so he was going to throw a game so
that the under bet would come through and his buddies
would make ten grand or something like that. Well, ten
thousand dollars I wouldn't leave on a park bench. But
for a guy that makes twenty six million dollars a year,
why would you risk that There was also another example
(15:51):
where they said at the news conference today that I
believe it was him that that was involved in some
shenanigans and they literally two hundred thousand dollars to his
home after the game. That was in question. Two hundred
thousand is a lot of money for you and me.
Two hundred thousand dollars is not that much money for
(16:11):
somebody that makes twenty six million dollars a year. It's
pocket fuzz. Paul morral ways in the former NYPD guy,
weighs in about, Yeah, why would they risk so much
or effectively so little?
Speaker 5 (16:29):
Yeah, you got to ask yourself that, I mean the
reason to be clear, And I know a lot of
people are asking this, why aren't they not going to
the legal outlets to make gambling bets? And one of
the things that's implicated here is the fact that if
you win from a bookie, moblinked or otherwise, you don't
have to pay the taxes.
Speaker 1 (16:46):
So it's if you're.
Speaker 5 (16:48):
Really gambling a lot of money, but it's on the books.
With a service over the internet, you have to pay
the taxes.
Speaker 1 (16:54):
So Paul worked here in New York City and the mob.
He obviously worked in crime issues regarding the mafia, and
in this particular case was kind of surprising is that
they talked about the fact that the involved three mafia
families Genevec, the Bonano and the Gambino family. I'm hearing
(17:15):
this afternoon that there may be another mob family or
The shocking part is that these families never work together
on anything, but apparently they did on this.
Speaker 5 (17:24):
Here's Paul So, yeah, the four to five families areolved.
Interestingly here to Columbus or not, and that's Brooklyn territory.
The indictments in Brooklyn, so it looks like maybe they're
on the air territories down.
Speaker 6 (17:34):
Well, yeah, I forgot the accent that says it all.
Speaker 5 (17:40):
I'm not in the indictment. Let me be clear, all right,
there's a number of people who are not in the indictment,
who are not named. Those are likely going to be flips. Interestingly,
no Rico charges here, but I'm sure they're working on
trying to get something organizational here to get the big
big bang of the Rico charges. And look, what it
really comes down to is we've had these before. There
was a fixing scandal in the NBA just a number
(18:01):
of years ago. Operation fairly there was a boyd shaving
in nineteen seventy nine. But right, yeah, And in fact,
going back to Hollywood, in the Friars Club, they had
a fixed poker game. They were watching with a camera
through the roof, and they were ripping off big, big
Hollywood names. They know institutionally, that is the mafia. They
know how to do this stuff institutionally, and that's the
big force multiplier for themization. That's kind of what sets
(18:23):
them apart.
Speaker 1 (18:24):
We actually the question about why would they risk so
much of their money. I mean, when they're making twenty
six million dollars a year, why would they risk something
for ten thousand dollars or even two hundred thousand dollars.
Because gambling is an addiction, an addiction, and the I
don't know, I don't understand it. I don't have a
gambling problem. I don't like gambling, simply, the maths doesn't
(18:47):
work in gambling. But these people obviously are human beings
and they obviously have gotten addicted. Remember Michelle Tafoya did
a lot of sideline reporting for the NFL for NBC.
Speaker 7 (19:04):
She weighs in, I was shocked about Chauncey Billups having
covered him as both a player and a coach, but
his gambling accusation, as Nate mentioned, has to do with pokers,
so it's totally unrelated to the game, at least it
seems so at this point. But as for the players
at these prop bets, these are easily manipulated. And there
(19:24):
was a guy on Twitter on x now who posted
about that game in twenty twenty three regarding Rosier that
got Lucky that I was fed some inside info that
Rosier was leaving in the first or second quarter so
that his unders would hit. So these players who want
to help out a buddy or affect somebody's income can
(19:44):
make a call and say, look, I'm not going to
play that long, and they can manipulate how these bets
come out.
Speaker 8 (19:50):
Now.
Speaker 7 (19:51):
I can remember a time when gambling was completely disassociated
with pro sports, but not only have they accepted it,
they've embraced it. When I went to turn on an
NBA game last night, the sideline reporter was holding a
microphone that said fan Duel on it. So fan Duel,
one of the largest platforms for gambling, now televises games.
Speaker 1 (20:10):
Yeah, every season, they're getting in deeper and deeper, and again,
as was mentioned, earlier. This is the NBA kickoff week.
Don't know about what NBA team you follow or if
you do, but the home openers are all this week.
There was one last night. The Nicks opened at Madison
Square Garden last night here in New York. Jim Gray,
(20:31):
longtime sports broadcaster analyst.
Speaker 9 (20:36):
His reaction, Well, all of these sports leagues, and in
this instance, the NBA, are dependent on the games being
real not being fixed. Once you lose the confidence of
the public that the games are not real and that
they can be thrown, then you have just a huge,
huge issue. And that's the biggest concern here. When you
have a current NBA player who's involved in Chauncey Billups
(20:58):
now not accused of throwing games or doing anything to
rig that game, but playing in poker, it just eats
at the credibility in the integrity and it's very dangerous
and very problematic.
Speaker 1 (21:10):
After every game, the team that lose has always tried
to analyze why they lost. The fans due and you
know a lot of fans are going to say, I
think it was fixed. Our team was better than that.
They shouldn't have lost. It was fixed, and that's gonna
They're not gonna Why buy a ticket to an NBA
game if you think it's all set up behind closed doors.
(21:33):
All right, So we've got that. We've also got last night,
was I told you that Nick's had their opening game.
Eric Adams, the current mayor of New York City, was
joined on the front row of the Garden by Andrew Cuomo.
Andrew Cuomo ran over to the garden from the debate.
(21:55):
There was the final debate for the mayoral candidates last night,
man Donnie and Curtis Sliwa, And I'll play a little
bit of that with you. But anyway, out of that
whole thing, Eric Adams then apparently has endorsed Andrew Cuomo.
(22:16):
But this is some of it from last night, ma'am.
Donnie the big socialist. Some people call him a communist.
Either way, he's got some crazy ideas. He wants to
have a thirty dollars minimum wage. And well, here I'll
let him talk about it.
Speaker 8 (22:35):
And the reason that we put forward thirty dollars by
twenty thirty is that that's the minimum that a New
Yorker needs to be paid to be able to afford
to live in this city. Our proposal that we've put
forward would be phased in over a longer period of
time for small business owners to ensure that they could
deal with this. And it's also one that we are
confident we would be able to accomplish.
Speaker 1 (22:55):
Okay, he's confident he can get that thing done. So
thirty thirty dollars is yeah, it's just thirty dollars minimum wage.
The mayor of Boca Raton, Florida, said, Hellllojah New Yorkers
are going to be moving into his town.
Speaker 10 (23:12):
And if the polls hold as they expect in the
next few weeks, we're going to see a lot more
people looking to bring their businesses here and create jobs
in Boca Retin. So I think one you're out, you're
going to see a substantial exodus companies that are able
to move. Two years out, you're going to see depressed values,
more unemployment, higher crime, and four years out, we don't know.
I think at that point they'll be ready for a
(23:33):
new mayor. O.
Speaker 1 (23:35):
There are a lot of people that live in Florida
that used to live in New York and they moved
there because well, it's much much less expensive and the
winters are much much nicer. Se Cup, the political analyst,
she looked at the debate last night.
Speaker 11 (23:51):
This way, what Cuomo and Sliewa were able to do
last night, which they had not been able to do before,
was really land attacks with some help by the moderators
on his experience, and I saw Zoron Mamdanni flustered for
the first time in this entire race and really kind
(24:11):
of back on his heels. Now, if you were just
tuning in to this election for the first time at
this debate, which we know a lot of voters just
tune in when the debate start, I don't know that
you saw a confidence Zoron Mamdani. I think you saw
someone who couldn't answer some questions. And I think when
we get some polling, we're going to see this race
(24:33):
as a little tighter than it was before.
Speaker 1 (24:35):
Well see because Mondannie is way ahead in all of
the polling. But there's we talked about it before. There's
a huge Jewish block in New York City and they're
a very important voting block. And this was brought up
last night. I mean, Andrew Coloma, there were some there
were some fireworks last night at this final debate the
U because early voting starts Saturday, and then We're less
(25:00):
two weeks now until election day. But here's my man
Dommi going, I'm sorry, Cuomo, going after ma'm donnie about
his view of the Jewish faith.
Speaker 8 (25:12):
I look forward to being a mayor for every single
person that calls the city home, That includes Jewish New
Yorkers who may have concerns or opposition to the positions
that I've shared about Israel and Palestine.
Speaker 6 (25:23):
Not everything is a TikTok video. You're the savior of
the Jewish people.
Speaker 5 (25:27):
You won't denounce globalize the in the Fada, which means
killed Jews.
Speaker 6 (25:31):
There's unprecedented fear in New York.
Speaker 12 (25:35):
It was not several rabbis, Earl, it was six hundred
and fifty rabbis who signed the.
Speaker 1 (25:41):
Letter, not several out over six hundred and fifty rabbis
that that do not vote for this guy. So we'll
see how that all thing goes. Noah Rothman over it.
National review sums it up this one.
Speaker 13 (25:53):
It was so enjoyable to hear somebody to say nothing
of two individuals expressing the views that are shared by
the majority of New Yorkers who will not pull the
lever for mister Momdannie. He's always been long on shtick
and rhetoric and short on substance. And they exposed it
last night, and they exposed it in ways that I
(26:15):
think very well could move the needle, although it's quite
late in the game. His housing policy, he defaults to
the activists. Give activist more control over rental, guidance and construction.
When it comes to the schools, let's give the teachers
unions more controls over the schools. And to say nothing
of public safety, where he's defaulting to defund activists who
want to give dispatchers who simply do not have access
to the information that could possibly need to make that
(26:36):
determination the level of threat. On the other end of
the line, this is all going to be a disaster
if he becomes mayor. And it was nice to see
Kurtis Liua devote some of his fire to Mandanie as
well as Andrew Cuomo and Andrew Cuomo finally not taking
the Zanex that he typically takes before these debates.
Speaker 1 (26:53):
It's true, I mean, Clomo is just not a very
inspiring guy. He's very boring, and so taking the Nannix
before the most debates kind of I thought it was funny.
Shut Down Day twenty What are we on? Day twenty
three is today. They took a vote today about paying
(27:18):
essential workers, the federal employees that are at work because
they're quote essential, but they haven't been getting paid, and
so the vote went up. This is in the Senate,
and they need sixty senators to vote in favor of this. Nope,
fifty four to forty five. Fifty four Senators said sure,
(27:42):
let's pay those people because tomorrow is supposed to be
when they get another paycheck, and they only got a
partial paycheck last time, and tomorrow is supposed to be
a full paycheck. And so fifty four to forty five,
forty five Democrats said no, fifty four republic plus a
couple of Democrats said yes. But it went down and flames,
(28:05):
so they're not going to be paid tomorrow. And there
was a big slip of the tongue. Catherine Clark is
the number three Democrat. You've got the hackeing Jeffries, who's
the head of the Democrats in the House, but she's
the whip. So she's number three, I believe, And she
(28:27):
was being interviewed this it was last night, and through
a slip of the tongue, she finally said she said
the part she wasn't supposed to say. She said it
out loud, that this is all a strategy game regarding politics, and.
Speaker 14 (28:46):
Of course there will be, you know, families that are
going to suffer. We take that responsibility very seriously. But
it is one of the few leverage times we have.
It is an inflection point in this budget process where
we have tried to get the Republicans to meet with us.
Speaker 1 (29:06):
Oh wait a minute. She started off by saying all
the right things about we're so desperately concerned about all
the people that are hurting out there, but this is
a key leverage point that we have on the budget process.
That's what this is about. Jerry Baker, who's editor at
large the Wall Street Journal, react.
Speaker 15 (29:29):
As a revealing moment. Yeah, they want Look, it's interesting
the polling still suggests that people maybe just buy small
margin blame Republicans more. Don't really understand that because it's
so clearly the Democrats who are I think there's some
general sense that because rubic Republicans have been responsible for
shutdowns in the past, they're blaming them again. Democrats have
got a lot at stake in this, a lot of
their own supporters are dependent on some of those government services.
(29:51):
Most of the people who work in the government, let's
be honest, probably almost certainly vote for the Democrats. You know,
they're not really gaining anything here by doing this. So yeah,
it was quite quite revealing.
Speaker 1 (30:01):
It was revealing because I mean she clearly said the
quiet part out loud that this we feel so sorry
about the people, but this is a key leverage point politically.
That's what is driving at least the Democrats. She's in
leadership of the Democrats in the House, so she basically
let out what she really feels. I think as this
(30:23):
thing goes on we're in the fourth week of it now,
that you'll get more and more people like that that
are going to spill the beans, either on purpose or
by accident and switching to trade because you know, I
don't like trade tariffs. I just don't. They've always in
the history has always said that they they hurt supply,
they drive up prices, they create more inflation, and by
(30:47):
the way, on prices and all of that out there,
there's and we're talking about the people that are in
food lines, that are government workers, and the people that
two million people in Pennsylvania need food stamps in order
to feed their family, and the subsidies to buy health
insurance all that. What's coming down is the economy, and
this is going to be important. Tomorrow morning, Friday morning,
(31:09):
the twenty fourth, eight thirty in the morning, they are
having the delayed report on the Consumer Price Index, that
is the inflation report, and we'll see how it goes.
But one of the things that's becoming very clear is
we have a bifurcated population economically. We have the top
(31:36):
ten percent of income earners are buying fifty percent of
consumption of retail consumption, so that means ninety percent are
buying the other fifty percent. It's people with money are
(31:57):
out there happily going about their lives, spending whatever they
want to spend, going on trips or buying a new
computer or a new car, whatever it might be. I know,
the prices are up, and so what I make a
lot of money is what their attitude is. It's not
a bad attitude. I mean they're not they have the money.
They're just not bothered by inflationary price increases. But most
(32:21):
people in this country are. And so you've got people
that are struggling. A majority of people that are struggling,
a minority of people that are not struggling. But the
economy because of the wealthy. The economy on paper, when
you add everything up and divide by whatever, it looks
pretty good. So I'm expecting tomorrow a decent consumer price
(32:46):
index report and we'll find out how that goes. But
one area that people have been talking about is the
price of beef. Beef prices are apparently, I'm not a shopper,
I have been guy rocketing. The reason for it is
because there is literally a shortage of cattle in this country,
(33:10):
and the cattle ranchers don't have as many cows to
go to slaughter, to wind up on a sullovane rapper
at your grocery store. So beef prices because of a
shortage of cattle, beef prices are higher. So President Trump,
he's doing these deals with his buddy Melai is how
(33:33):
we pronounced it, the head of Argentina. He sent them
twenty billion dollars to help out their economy. But China
stopped buying soybeans from US farmers and they're buying them
instead from Argentina. So Argentina is doing just fine. But
we sent them twenty billion dollars for a political friend.
(33:54):
Now we're finding out that since we have a shortage
of cattle in this country, has apparently signed the deal
for Argentine ranchers cattle ranchers to send their cattle to US,
which is now going to increase the cattle supply in
the United States, which will help prices at the grocery store.
(34:18):
But the cattle ranchers in this country are not happy,
to say the very least. Here's the President on his
thoughts about beef.
Speaker 12 (34:31):
I put tariffs on things coming in to the country,
including beef, and that gave them a chance to finally
have a decent industry. The ranchers understand that they're so
happy for what I've done for I saved them.
Speaker 1 (34:46):
Well, he's got that backwards because he didn't put a
terrif on them. He let them that. He let them
send their foreign product, their cattle into our market to
try to help out consumers with the cost of beef.
But he's killing the ranchers. Here's Ty Thompson from the
(35:06):
Cattle Ranchers Association.
Speaker 16 (35:09):
Consumers will tell us when the beef is too high.
I think it's outlandish for the President to come out
and say that beef is too high and he's going
to get it down himself. What is his problem with
higher price beef? Because consumers have a choice in proteins.
There's chicken, there's pork, there's all different proteins. Consumers have
chose to buy beef. President Trump ran on being a
(35:31):
free market guy, so what he was saying last week
goes totally against what he ran on.
Speaker 1 (35:38):
I don't mean to correct the man, but I don't
think Donald Trump ran on free market. He ran on
he was going to lay tariffs out there, he was
going to play trade games. And he has this guy.
His name is Bill Bullard. He is a cattle rancher
in from Billings, Montana.
Speaker 6 (35:58):
What we've eat it is it about. Our industry has
suffered under a huge trade deficit for decades, and as
a result, our industry has been shrinking for decades, and
our producers have received less than the cost of production
from the marketplace for several years. And finally the situation
got to where the supplies became so tight that the
(36:18):
competitive forces were unleashed in the marketplace and cattle prices
started to start to catch up with beef. Prices, and
so what we need to do is we need to
give our industry space to rebuild and to expand, and
the way to do that is to use the President's
tariffs and tariff rate quotas to limit the volume of
the price depressing imports that are preventing our industry from
(36:40):
growing and eliminating opportunities for new interests to enter our industry.
So when we heard the news about increasing imports from Argentina,
our concern was this was going to further exacerbate the
already crisis situation we're in. And we believe that if
President needs to help Argentina, then what we're going to
have to do is reduce imports from some of the
other toy different countries that we import from. We imported
(37:02):
a record four point six billion pounds of beef last year,
and these imports have put downward pressure on prices. Well,
it feels like there's a misunderstanding of how the industry works,
how are US cattle industry works, and a misunderstanding of
the fact that we've been in a state of crisis
for decades. This has been a chronic problem and it
has only grown acute in the last couple of years.
(37:23):
Producers are now receiving the highest prices in history. But
we lost over one hundred and six thousand producers just
in the five year period from twenty seventeen to twenty
twenty two. Excuse me, the industry's market is broken. We
had record beef imports last year six point four billion pounds,
and that has, as as I indicated, it has reduced
(37:44):
opportunities for producers. We need producers to have relief from
these excessive imports. We're proposing to the President that he
reduced imports by one point five billion pounds to give
our industry the space it needs to rebuild the cow
herd by about two million head. We've lost our three
billion heads since twenty eighteen, so our industry has been
(38:05):
shrinking for a long time. We've suffered from lack of profitability.
We need to expand we're not going to expand. If
we reduce the price point. That has finally triggered an
era where we can begin the expansion in the industry.
Speaker 1 (38:17):
I think the key point that he made that I
heard was that there's a misunderstanding about the beef industry,
and I would imagine that there's a lot of suits
that are in Washington, DC that don't have a clue
about the cattle industry the beef industry. But you heard
that that guy and the guy from the Cattle Association
(38:40):
are screaming saying you're telling us by importing all this
beef from Argentina. I mean, I don't understand the beef industry.
I'm not a commodities guy. Commodities is a very specialized
area that you need to know about with a lot
of experience. But I hope the cattle ranchers get some
(39:01):
relief so that they can build up their head of cattle,
which will eventually drive down the price of beef at
the grocery store. Speaking of the markets, well, what we
do today? We did a little bit of a rebound
from yesterday's sell off. We came back up. The Dow
up one hundred and forty four to forty six thousand
(39:24):
and seven thirty four, the S and P up thirty nine,
the Nasdaq did well up two hundred and one. Price
of gold rebounded today, up seventy eight dollars to forty
one forty three four one hundred and forty three dollars
for an ounce of gold and oil. This is because
of yesterday, it went up a buck and a half.
(39:46):
Today it's up another three dollars and twenty five cents.
Oil's at sixty two dollars now. It was in the
in the mid fifties last week. And the reason is
because of the tariffs that we are sorry, the sanctions
that we put on Russian oil, and the markets are
reacting negatively to that, thinking that without Russian oil in
(40:10):
the marketplace, the price of oil will go higher. So
we'll keep an eye on that. That's it for today.
Thank you for stopping by. I will be back again tomorrow.
Try it again then, hope you'll see you
And welcome, Welcome, Welcome to the Big Podcast on this Thursday.
Today is the twenty third day of October, year of
our Lower twenty twenty five. My name is Tom Sullivan.
And interesting topics to float around today. But before we
get to the topics, I mean, we're just I was
(00:43):
just thinking about the last couple of days, some of
the some of the content that we have shared with you.
It's coming back around it. We've got the government workers yesterday,
a number of them in Maryland standing in a lawline
of a couple two hundred and three hundred of them
(01:04):
at a food bank. These are government workers. They're paid well,
they should have some money to go to the grocery store,
but they don't because they obviously, like I mentioned this yesterday,
there's a lot of Americans that are living paycheck to
paycheck and it doesn't matter. Well, I'm sure, I'm sure
(01:26):
at the lower income that you have, the more prone
to basically paycheck to paycheck. But there's also I know
people that make pretty good money and they're doing they
spend everything that they get. They don't safe a time.
So you got the government workers standing in food lines.
You've got yesterday we played John Fetterman just kept coming
(01:49):
back to the point that he says, I'm not here
for my party. I'm a thousand percent I'm a Democrat,
but I'm not here for my party. I'm here for
the people that I represent. And there's two million people
in Pennsylvania that are on food stamps that I represent,
and I'm here to protect them. And I'm going, all right,
(02:09):
two million people. It's a lot of people that you
and I are helping to buy their groceries. And then
I'll give you. I'll give you one more. Is just
off the top of my head. You've got. The fight
about the shutdown is the Democrats put in during the
(02:32):
time of the Biden administration, during COVID, they put in
a subsidy for People's Affordable Care Act for the premiums
because there were a lot of people lost their jobs
during COVID. Okay, so they put it was a lot,
it was a lot of money. It's one and a
half trillion dollars. And that's the fight between the Democrats
(02:55):
and Republicans. The Democrats say we need to renew that
it's going to expire if the end of this year.
They're the ones who said, let's put this temporary subsidy
in and it will expire at the end of twenty
twenty five. Well, back in twenty twenty one, that sounded
like it was future world. Well here we are, and
(03:15):
the Republicans are going it was temporary, it was supposed
to expire. We're going to let it expire. And the
Democrats are going, no, no, no, no, people can't afford
their health insurance. If you do that, and it goes
back again to people can't afford fill in the blank,
they can't afford their insurance premium for the Affordable Care Act. No,
(03:42):
it's not affordable. It hasn't been affordable since day one,
and it's getting worse. And the reason it's getting worse
is the government subsidies drive up the cost of whatever
it is that they're subsidizing, so health care and insurance.
Health insurance for healthcare has gone way up, partially because
(04:05):
of the subsidies. You've got subsidies for students at college.
We're going to give you some money so you can
go to college. The universities have just jacked up the
price of the tuition because they can, because the students don't.
They got the money from the government. They passed it
on to the college. They don't know. So we've got
(04:27):
government workers and food lines. We've got John Fetterman talking
about two million people who are not going to be
able to afford groceries because of SNAP. And you've got
the subsidies for people to afford their premiums of the
Affordable Care Act, and I'm going people are just financially
out of whack. I brought it up yesterday, but I mean,
(04:48):
it really isn't that long ago where we did not
have food stamps, we did not have subsidies at all
for your health insurance, we didn't buy people's groceries, we
did not have food lines for government employees. We're financially
(05:11):
a disaster. Not in a way that the world's going
to crumble, but I mean, there's just we have gone
way off the rails in this country where people have
been basically trained to rely upon the government for their
day today needs. I'm I don't have the answer, because
(05:37):
whatever the answer is, it would take It's taken decades
to get people trained to rely upon the government for
their necessities, and it's going to take decades of people
screaming like they are right now. The Democrats are screaming,
you can't. You can't stop the subsidies that were temporary. No,
(05:58):
you can't do that. And there's going to be a
lot of screaming to get people back to where they
rely upon themselves, their family, their friends, their house of worship, charities.
A lot of charities have gone out of business because
the government has taken over whatever the charity was doing.
(06:21):
So where do we want to start today? I'm just
ranting about I'm just reflecting on the last couple of
days about financial matters that are basic human day to
day needs upon which they people have been trained to
loot to the government. All right, enough of the ranting.
Big story today about the NBA and about the National
(06:46):
Basketball Association, not the NBA itself, but the players that
are in the NBA. And this has been it's been
a while since we've had one of these stories, but
it's an old story about gambling and that professional athletes
getting involved in gambling and the question about the games,
(07:11):
are they legit or are they being thrown? And the
mob is throwing in here as well. Yeah, yeah, the
mob families are involved in this scandal. Caris Scanell is
a reporter that was I believe she's a She may
be a lawyer, but she laid out what happened today,
(07:33):
the FBI, the US Attorney. There was just a fleet
of law enforcement that unveiled this story about the arrest
of a couple of top NBA players and coaches.
Speaker 2 (07:46):
The rest of just happened, and of course, the Miami
Heat guard Terry Rosier and the Chauncey Billups, head coach
of the Portland Trailblazers, have been arrested. A third former
NBA player is also charged. And what law enforcement officials
tell us is that there are two separate schemes here.
One involved like a game rigging scheme that's involved Terry Rosier,
(08:06):
and he allegedly provided information about who was playing in games,
who might be on the injury list to some of
the sports betters that he was involved with, and he
benefited himself financially. According to one official, he bowed out
of a game taking an injury about nine minutes in
to help whatever bet had been placed on that game.
Then there is a separate alleged scheme, and that's the
(08:26):
one that allegedly involves the coat of the Trailblazers, and
in that alleged scheme that also involves three families from
the New York mafia families, Genevez, the Banana and the
Gambino crime families. This is a poker scheme according to sources,
that involved playing Texas HoldEm and that Billips was part
of that scheme, attending these games and according to one official,
(08:51):
his attendance was there to be used as sort of
a distraction to some of the other players who were
playing all part of a poker ring. So two separate
sports getting betting schemes that they're announcing today, and we
will of course learn much greater detail about what all
of this entails next hour, when we do expect to
see the US Attorney for the Eastern District of New York,
(09:11):
the NYPD police chief, as well as FBI Director Cash
Battel kind of laying out the breath of these two
alleged schemes.
Speaker 1 (09:23):
Okay, that was from this morning, and they did have
a news conference, a Cash Betel was there and, like
I said, a whole bunch of law enforcement. It's it's
like a script from a movie that would be turned
down by Hollywood. They apparently the poker part of this
is they had one guy lost one point something million dollars,
(09:43):
So we're talking about big money. We're not talking about
twenty dollars bills here. And this was the charge is
against the head coach of the Trailblazers, Chauncey Billups, that
he was involved in as kind of a draw to
get some sucker to come in. Everybody at the table,
including the dealer, were all in on apparently the scam.
(10:07):
And they used a highly sophisticated card shuffling machine. They
had tables where they played the poker that were X
ray tables so that somebody somewhere could send a signal.
They could read the cards that are faced down on
the table, they could read them from below. It was
It was bizarre. So let's get into a little bit
(10:29):
of a with Cash Petel talking about the arrests that
were made today.
Speaker 3 (10:34):
The fraud is mind boggling. It's not hundreds of dollars,
it's not thousands of dollars. It's not tens of thousands
of dollars. It's not even millions of dollars. We're talking
about tens of millions of dollars in fraud and theft
and robbery across a multi year investigation.
Speaker 1 (10:53):
It's rather confusing because it is multi year and it's
on various athletes. Apparently they're still wrestling them across the
country today, so the number of people that are involved
in this is growing. Christine Brennan, she is a longtime
sports reporter, worked as a column in sports on USA
(11:13):
Today and other places. She was obviously shocked.
Speaker 4 (11:17):
You know, it is huge, and it's almost like when
was this going to happen? Here, it's happened, this bombshell
and of course the time he could not be worse
for the NBA, just starting at season, the Grand Opening,
every team having its first game, just as big a
story as you could have, and then this bombshell drops
right into the middle of it. Of course, as it
(11:38):
should in terms of investigation, national investigation. Of course, you
don't wait for a better time, but for the NBA,
could not be worse. And so yes, on one level,
it's shocking because you just can't believe, especially name like
Chauncey Phillips. If you've even just casually followed the NBA,
you know that name. He's fifty years old, a great career,
(12:01):
a lot with the Detroit Pistons, now a head coach,
he's the leader of the team, and now he is
alleged to have been involved, as as Tara was saying,
in this incredible scandal, again innocent until proven guilty. And
then also a player who's been around, Rosier, who's been
around and drafted first and a few years ago by
the Boston Celtics. So we're not talking about rookies, We're
(12:23):
not talking about people that have not been in the game,
have not heard the rules. I think what happens in
a situation like this is where you have gambling literally
enveloping sports, and we know this every commercial you turn it,
you know, you walk away, you're back. It's something sponsored
by a betting a gambling company, that this is the
(12:45):
kind of thing that is probably a disaster, potential disaster,
alleged disaster waiting to happen. And as I said, I
don't think we should be that shocked, and I don't
think this, sadly will be the last of these kinds
of stories.
Speaker 1 (12:59):
Other been lots of was shouldn't say loss. There have
been sports scandals in the past, with Pete Rose probably
one of them that comes to mind, but a number
of them that that gambling and sports they never have
gone together. But over the last I don't know what
five years, maybe longer, the sports betting business has exploded,
(13:23):
and a fan duel and what's the other one, another
big one out there that they're They're everywhere, They're on radio,
they're on television. They are a huge business. There's a
lot of money in gambling and we're seeing more and
more of it, and it's just, like Christine said, just
a matter of time. I would imagine this is the
(13:44):
tip of the iceberg.
Speaker 4 (13:45):
The idea that something that you want to be able
to trust. Right, the whole foundation of sports is that
what you're watching is real and that there's no funny business,
no shade dealings going on. And if that comes crumbling down,
then potentially, clearly that's a huge issue for the in
terms of any sport. But you had cho Aotan's interpreter
(14:09):
ensnared in something. So that's baseball. As you said, college sports,
these are younger athletes eighteen to twenty two, twenty three
years old, even probably more impressionable and more apt to
be able to be caught in something this terrible.
Speaker 1 (14:22):
Yeah, when this story broke, I thought about the fact
that the NCAA. I get the fact that they finally
came around to the point of where college athletes can
get paid for people buying their jerseys and things like that.
I'm for all of that, but before they could not
work at all. They could not work one hour for
(14:43):
an ice cream shop, nothing. But now they're talking about
letting these college athletes bet on sports. Dambling isn't just
sneaking in. It's not by usmosis. It's crashing into the
world of sports. You know, this is going to damage
(15:03):
people that are want to believe that sports is honest
and true and that the outcome of a sporting event
is based on talent, not on somebody throwing the game.
But I also stopped and thought, wait a minute, these guys.
This one guy that was arrested today, Terry Rosier, he
makes twenty six million dollars a year, twenty six million,
(15:27):
and so he was going to throw a game so
that the under bet would come through and his buddies
would make ten grand or something like that. Well, ten
thousand dollars I wouldn't leave on a park bench. But
for a guy that makes twenty six million dollars a year,
why would you risk that There was also another example
(15:51):
where they said at the news conference today that I
believe it was him that that was involved in some
shenanigans and they literally two hundred thousand dollars to his
home after the game. That was in question. Two hundred
thousand is a lot of money for you and me.
Two hundred thousand dollars is not that much money for
(16:11):
somebody that makes twenty six million dollars a year. It's
pocket fuzz. Paul morral ways in the former NYPD guy,
weighs in about, Yeah, why would they risk so much
or effectively so little?
Speaker 5 (16:29):
Yeah, you got to ask yourself that, I mean the
reason to be clear, And I know a lot of
people are asking this, why aren't they not going to
the legal outlets to make gambling bets? And one of
the things that's implicated here is the fact that if
you win from a bookie, moblinked or otherwise, you don't
have to pay the taxes.
Speaker 1 (16:46):
So it's if you're.
Speaker 5 (16:48):
Really gambling a lot of money, but it's on the books.
With a service over the internet, you have to pay
the taxes.
Speaker 1 (16:54):
So Paul worked here in New York City and the mob.
He obviously worked in crime issues regarding the mafia, and
in this particular case was kind of surprising is that
they talked about the fact that the involved three mafia
families Genevec, the Bonano and the Gambino family. I'm hearing
(17:15):
this afternoon that there may be another mob family or
The shocking part is that these families never work together
on anything, but apparently they did on this.
Speaker 5 (17:24):
Here's Paul So, yeah, the four to five families areolved.
Interestingly here to Columbus or not, and that's Brooklyn territory.
The indictments in Brooklyn, so it looks like maybe they're
on the air territories down.
Speaker 6 (17:34):
Well, yeah, I forgot the accent that says it all.
Speaker 5 (17:40):
I'm not in the indictment. Let me be clear, all right,
there's a number of people who are not in the indictment,
who are not named. Those are likely going to be flips. Interestingly,
no Rico charges here, but I'm sure they're working on
trying to get something organizational here to get the big
big bang of the Rico charges. And look, what it
really comes down to is we've had these before. There
was a fixing scandal in the NBA just a number
(18:01):
of years ago. Operation fairly there was a boyd shaving
in nineteen seventy nine. But right, yeah, And in fact,
going back to Hollywood, in the Friars Club, they had
a fixed poker game. They were watching with a camera
through the roof, and they were ripping off big, big
Hollywood names. They know institutionally, that is the mafia. They
know how to do this stuff institutionally, and that's the
big force multiplier for themization. That's kind of what sets
(18:23):
them apart.
Speaker 1 (18:24):
We actually the question about why would they risk so
much of their money. I mean, when they're making twenty
six million dollars a year, why would they risk something
for ten thousand dollars or even two hundred thousand dollars.
Because gambling is an addiction, an addiction, and the I
don't know, I don't understand it. I don't have a
gambling problem. I don't like gambling, simply, the maths doesn't
(18:47):
work in gambling. But these people obviously are human beings
and they obviously have gotten addicted. Remember Michelle Tafoya did
a lot of sideline reporting for the NFL for NBC.
Speaker 7 (19:04):
She weighs in, I was shocked about Chauncey Billups having
covered him as both a player and a coach, but
his gambling accusation, as Nate mentioned, has to do with pokers,
so it's totally unrelated to the game, at least it
seems so at this point. But as for the players
at these prop bets, these are easily manipulated. And there
(19:24):
was a guy on Twitter on x now who posted
about that game in twenty twenty three regarding Rosier that
got Lucky that I was fed some inside info that
Rosier was leaving in the first or second quarter so
that his unders would hit. So these players who want
to help out a buddy or affect somebody's income can
(19:44):
make a call and say, look, I'm not going to
play that long, and they can manipulate how these bets
come out.
Speaker 8 (19:50):
Now.
Speaker 7 (19:51):
I can remember a time when gambling was completely disassociated
with pro sports, but not only have they accepted it,
they've embraced it. When I went to turn on an
NBA game last night, the sideline reporter was holding a
microphone that said fan Duel on it. So fan Duel,
one of the largest platforms for gambling, now televises games.
Speaker 1 (20:10):
Yeah, every season, they're getting in deeper and deeper, and again,
as was mentioned, earlier. This is the NBA kickoff week.
Don't know about what NBA team you follow or if
you do, but the home openers are all this week.
There was one last night. The Nicks opened at Madison
Square Garden last night here in New York. Jim Gray,
(20:31):
longtime sports broadcaster analyst.
Speaker 9 (20:36):
His reaction, Well, all of these sports leagues, and in
this instance, the NBA, are dependent on the games being
real not being fixed. Once you lose the confidence of
the public that the games are not real and that
they can be thrown, then you have just a huge,
huge issue. And that's the biggest concern here. When you
have a current NBA player who's involved in Chauncey Billups
(20:58):
now not accused of throwing games or doing anything to
rig that game, but playing in poker, it just eats
at the credibility in the integrity and it's very dangerous
and very problematic.
Speaker 1 (21:10):
After every game, the team that lose has always tried
to analyze why they lost. The fans due and you
know a lot of fans are going to say, I
think it was fixed. Our team was better than that.
They shouldn't have lost. It was fixed, and that's gonna
They're not gonna Why buy a ticket to an NBA
game if you think it's all set up behind closed doors.
(21:33):
All right, So we've got that. We've also got last night,
was I told you that Nick's had their opening game.
Eric Adams, the current mayor of New York City, was
joined on the front row of the Garden by Andrew Cuomo.
Andrew Cuomo ran over to the garden from the debate.
(21:55):
There was the final debate for the mayoral candidates last night,
man Donnie and Curtis Sliwa, And I'll play a little
bit of that with you. But anyway, out of that
whole thing, Eric Adams then apparently has endorsed Andrew Cuomo.
(22:16):
But this is some of it from last night, ma'am.
Donnie the big socialist. Some people call him a communist.
Either way, he's got some crazy ideas. He wants to
have a thirty dollars minimum wage. And well, here I'll
let him talk about it.
Speaker 8 (22:35):
And the reason that we put forward thirty dollars by
twenty thirty is that that's the minimum that a New
Yorker needs to be paid to be able to afford
to live in this city. Our proposal that we've put
forward would be phased in over a longer period of
time for small business owners to ensure that they could
deal with this. And it's also one that we are
confident we would be able to accomplish.
Speaker 1 (22:55):
Okay, he's confident he can get that thing done. So
thirty thirty dollars is yeah, it's just thirty dollars minimum wage.
The mayor of Boca Raton, Florida, said, Hellllojah New Yorkers
are going to be moving into his town.
Speaker 10 (23:12):
And if the polls hold as they expect in the
next few weeks, we're going to see a lot more
people looking to bring their businesses here and create jobs
in Boca Retin. So I think one you're out, you're
going to see a substantial exodus companies that are able
to move. Two years out, you're going to see depressed values,
more unemployment, higher crime, and four years out, we don't know.
I think at that point they'll be ready for a
(23:33):
new mayor. O.
Speaker 1 (23:35):
There are a lot of people that live in Florida
that used to live in New York and they moved
there because well, it's much much less expensive and the
winters are much much nicer. Se Cup, the political analyst,
she looked at the debate last night.
Speaker 11 (23:51):
This way, what Cuomo and Sliewa were able to do
last night, which they had not been able to do before,
was really land attacks with some help by the moderators
on his experience, and I saw Zoron Mamdanni flustered for
the first time in this entire race and really kind
(24:11):
of back on his heels. Now, if you were just
tuning in to this election for the first time at
this debate, which we know a lot of voters just
tune in when the debate start, I don't know that
you saw a confidence Zoron Mamdani. I think you saw
someone who couldn't answer some questions. And I think when
we get some polling, we're going to see this race
(24:33):
as a little tighter than it was before.
Speaker 1 (24:35):
Well see because Mondannie is way ahead in all of
the polling. But there's we talked about it before. There's
a huge Jewish block in New York City and they're
a very important voting block. And this was brought up
last night. I mean, Andrew Coloma, there were some there
were some fireworks last night at this final debate the
U because early voting starts Saturday, and then We're less
(25:00):
two weeks now until election day. But here's my man
Dommi going, I'm sorry, Cuomo, going after ma'm donnie about
his view of the Jewish faith.
Speaker 8 (25:12):
I look forward to being a mayor for every single
person that calls the city home, That includes Jewish New
Yorkers who may have concerns or opposition to the positions
that I've shared about Israel and Palestine.
Speaker 6 (25:23):
Not everything is a TikTok video. You're the savior of
the Jewish people.
Speaker 5 (25:27):
You won't denounce globalize the in the Fada, which means
killed Jews.
Speaker 6 (25:31):
There's unprecedented fear in New York.
Speaker 12 (25:35):
It was not several rabbis, Earl, it was six hundred
and fifty rabbis who signed the.
Speaker 1 (25:41):
Letter, not several out over six hundred and fifty rabbis
that that do not vote for this guy. So we'll
see how that all thing goes. Noah Rothman over it.
National review sums it up this one.
Speaker 13 (25:53):
It was so enjoyable to hear somebody to say nothing
of two individuals expressing the views that are shared by
the majority of New Yorkers who will not pull the
lever for mister Momdannie. He's always been long on shtick
and rhetoric and short on substance. And they exposed it
last night, and they exposed it in ways that I
(26:15):
think very well could move the needle, although it's quite
late in the game. His housing policy, he defaults to
the activists. Give activist more control over rental, guidance and construction.
When it comes to the schools, let's give the teachers
unions more controls over the schools. And to say nothing
of public safety, where he's defaulting to defund activists who
want to give dispatchers who simply do not have access
to the information that could possibly need to make that
(26:36):
determination the level of threat. On the other end of
the line, this is all going to be a disaster
if he becomes mayor. And it was nice to see
Kurtis Liua devote some of his fire to Mandanie as
well as Andrew Cuomo and Andrew Cuomo finally not taking
the Zanex that he typically takes before these debates.
Speaker 1 (26:53):
It's true, I mean, Clomo is just not a very
inspiring guy. He's very boring, and so taking the Nannix
before the most debates kind of I thought it was funny.
Shut Down Day twenty What are we on? Day twenty
three is today. They took a vote today about paying
(27:18):
essential workers, the federal employees that are at work because
they're quote essential, but they haven't been getting paid, and
so the vote went up. This is in the Senate,
and they need sixty senators to vote in favor of this. Nope,
fifty four to forty five. Fifty four Senators said sure,
(27:42):
let's pay those people because tomorrow is supposed to be
when they get another paycheck, and they only got a
partial paycheck last time, and tomorrow is supposed to be
a full paycheck. And so fifty four to forty five,
forty five Democrats said no, fifty four republic plus a
couple of Democrats said yes. But it went down and flames,
(28:05):
so they're not going to be paid tomorrow. And there
was a big slip of the tongue. Catherine Clark is
the number three Democrat. You've got the hackeing Jeffries, who's
the head of the Democrats in the House, but she's
the whip. So she's number three, I believe, And she
(28:27):
was being interviewed this it was last night, and through
a slip of the tongue, she finally said she said
the part she wasn't supposed to say. She said it
out loud, that this is all a strategy game regarding politics, and.
Speaker 14 (28:46):
Of course there will be, you know, families that are
going to suffer. We take that responsibility very seriously. But
it is one of the few leverage times we have.
It is an inflection point in this budget process where
we have tried to get the Republicans to meet with us.
Speaker 1 (29:06):
Oh wait a minute. She started off by saying all
the right things about we're so desperately concerned about all
the people that are hurting out there, but this is
a key leverage point that we have on the budget process.
That's what this is about. Jerry Baker, who's editor at
large the Wall Street Journal, react.
Speaker 15 (29:29):
As a revealing moment. Yeah, they want Look, it's interesting
the polling still suggests that people maybe just buy small
margin blame Republicans more. Don't really understand that because it's
so clearly the Democrats who are I think there's some
general sense that because rubic Republicans have been responsible for
shutdowns in the past, they're blaming them again. Democrats have
got a lot at stake in this, a lot of
their own supporters are dependent on some of those government services.
(29:51):
Most of the people who work in the government, let's
be honest, probably almost certainly vote for the Democrats. You know,
they're not really gaining anything here by doing this. So yeah,
it was quite quite revealing.
Speaker 1 (30:01):
It was revealing because I mean she clearly said the
quiet part out loud that this we feel so sorry
about the people, but this is a key leverage point politically.
That's what is driving at least the Democrats. She's in
leadership of the Democrats in the House, so she basically
let out what she really feels. I think as this
(30:23):
thing goes on we're in the fourth week of it now,
that you'll get more and more people like that that
are going to spill the beans, either on purpose or
by accident and switching to trade because you know, I
don't like trade tariffs. I just don't. They've always in
the history has always said that they they hurt supply,
they drive up prices, they create more inflation, and by
(30:47):
the way, on prices and all of that out there,
there's and we're talking about the people that are in
food lines, that are government workers, and the people that
two million people in Pennsylvania need food stamps in order
to feed their family, and the subsidies to buy health
insurance all that. What's coming down is the economy, and
this is going to be important. Tomorrow morning, Friday morning,
(31:09):
the twenty fourth, eight thirty in the morning, they are
having the delayed report on the Consumer Price Index, that
is the inflation report, and we'll see how it goes.
But one of the things that's becoming very clear is
we have a bifurcated population economically. We have the top
(31:36):
ten percent of income earners are buying fifty percent of
consumption of retail consumption, so that means ninety percent are
buying the other fifty percent. It's people with money are
(31:57):
out there happily going about their lives, spending whatever they
want to spend, going on trips or buying a new
computer or a new car, whatever it might be. I know,
the prices are up, and so what I make a
lot of money is what their attitude is. It's not
a bad attitude. I mean they're not they have the money.
They're just not bothered by inflationary price increases. But most
(32:21):
people in this country are. And so you've got people
that are struggling. A majority of people that are struggling,
a minority of people that are not struggling. But the
economy because of the wealthy. The economy on paper, when
you add everything up and divide by whatever, it looks
pretty good. So I'm expecting tomorrow a decent consumer price
(32:46):
index report and we'll find out how that goes. But
one area that people have been talking about is the
price of beef. Beef prices are apparently, I'm not a shopper,
I have been guy rocketing. The reason for it is
because there is literally a shortage of cattle in this country,
(33:10):
and the cattle ranchers don't have as many cows to
go to slaughter, to wind up on a sullovane rapper
at your grocery store. So beef prices because of a
shortage of cattle, beef prices are higher. So President Trump,
he's doing these deals with his buddy Melai is how
(33:33):
we pronounced it, the head of Argentina. He sent them
twenty billion dollars to help out their economy. But China
stopped buying soybeans from US farmers and they're buying them
instead from Argentina. So Argentina is doing just fine. But
we sent them twenty billion dollars for a political friend.
(33:54):
Now we're finding out that since we have a shortage
of cattle in this country, has apparently signed the deal
for Argentine ranchers cattle ranchers to send their cattle to US,
which is now going to increase the cattle supply in
the United States, which will help prices at the grocery store.
(34:18):
But the cattle ranchers in this country are not happy,
to say the very least. Here's the President on his
thoughts about beef.
Speaker 12 (34:31):
I put tariffs on things coming in to the country,
including beef, and that gave them a chance to finally
have a decent industry. The ranchers understand that they're so
happy for what I've done for I saved them.
Speaker 1 (34:46):
Well, he's got that backwards because he didn't put a
terrif on them. He let them that. He let them
send their foreign product, their cattle into our market to
try to help out consumers with the cost of beef.
But he's killing the ranchers. Here's Ty Thompson from the
(35:06):
Cattle Ranchers Association.
Speaker 16 (35:09):
Consumers will tell us when the beef is too high.
I think it's outlandish for the President to come out
and say that beef is too high and he's going
to get it down himself. What is his problem with
higher price beef? Because consumers have a choice in proteins.
There's chicken, there's pork, there's all different proteins. Consumers have
chose to buy beef. President Trump ran on being a
(35:31):
free market guy, so what he was saying last week
goes totally against what he ran on.
Speaker 1 (35:38):
I don't mean to correct the man, but I don't
think Donald Trump ran on free market. He ran on
he was going to lay tariffs out there, he was
going to play trade games. And he has this guy.
His name is Bill Bullard. He is a cattle rancher
in from Billings, Montana.
Speaker 6 (35:58):
What we've eat it is it about. Our industry has
suffered under a huge trade deficit for decades, and as
a result, our industry has been shrinking for decades, and
our producers have received less than the cost of production
from the marketplace for several years. And finally the situation
got to where the supplies became so tight that the
(36:18):
competitive forces were unleashed in the marketplace and cattle prices
started to start to catch up with beef. Prices, and
so what we need to do is we need to
give our industry space to rebuild and to expand, and
the way to do that is to use the President's
tariffs and tariff rate quotas to limit the volume of
the price depressing imports that are preventing our industry from
(36:40):
growing and eliminating opportunities for new interests to enter our industry.
So when we heard the news about increasing imports from Argentina,
our concern was this was going to further exacerbate the
already crisis situation we're in. And we believe that if
President needs to help Argentina, then what we're going to
have to do is reduce imports from some of the
other toy different countries that we import from. We imported
(37:02):
a record four point six billion pounds of beef last year,
and these imports have put downward pressure on prices. Well,
it feels like there's a misunderstanding of how the industry works,
how are US cattle industry works, and a misunderstanding of
the fact that we've been in a state of crisis
for decades. This has been a chronic problem and it
has only grown acute in the last couple of years.
(37:23):
Producers are now receiving the highest prices in history. But
we lost over one hundred and six thousand producers just
in the five year period from twenty seventeen to twenty
twenty two. Excuse me, the industry's market is broken. We
had record beef imports last year six point four billion pounds,
and that has, as as I indicated, it has reduced
(37:44):
opportunities for producers. We need producers to have relief from
these excessive imports. We're proposing to the President that he
reduced imports by one point five billion pounds to give
our industry the space it needs to rebuild the cow
herd by about two million head. We've lost our three
billion heads since twenty eighteen, so our industry has been
(38:05):
shrinking for a long time. We've suffered from lack of profitability.
We need to expand we're not going to expand. If
we reduce the price point. That has finally triggered an
era where we can begin the expansion in the industry.
Speaker 1 (38:17):
I think the key point that he made that I
heard was that there's a misunderstanding about the beef industry,
and I would imagine that there's a lot of suits
that are in Washington, DC that don't have a clue
about the cattle industry the beef industry. But you heard
that that guy and the guy from the Cattle Association
(38:40):
are screaming saying you're telling us by importing all this
beef from Argentina. I mean, I don't understand the beef industry.
I'm not a commodities guy. Commodities is a very specialized
area that you need to know about with a lot
of experience. But I hope the cattle ranchers get some
(39:01):
relief so that they can build up their head of cattle,
which will eventually drive down the price of beef at
the grocery store. Speaking of the markets, well, what we
do today? We did a little bit of a rebound
from yesterday's sell off. We came back up. The Dow
up one hundred and forty four to forty six thousand
(39:24):
and seven thirty four, the S and P up thirty nine,
the Nasdaq did well up two hundred and one. Price
of gold rebounded today, up seventy eight dollars to forty
one forty three four one hundred and forty three dollars
for an ounce of gold and oil. This is because
of yesterday, it went up a buck and a half.
(39:46):
Today it's up another three dollars and twenty five cents.
Oil's at sixty two dollars now. It was in the
in the mid fifties last week. And the reason is
because of the tariffs that we are sorry, the sanctions
that we put on Russian oil, and the markets are
reacting negatively to that, thinking that without Russian oil in
(40:10):
the marketplace, the price of oil will go higher. So
we'll keep an eye on that. That's it for today.
Thank you for stopping by. I will be back again tomorrow.
Try it again then, hope you'll see you
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