April 9, 2025 • 36 mins
In hour 3 of the Clay Travis and Buck Sexton show, the hosts delve into the latest developments in the stock market, which has seen a significant surge following President Trump's announcement of a 90-day pause on tariffs for most countries, while increasing tariffs on China to 125%. They discuss the strategic implications of this move, emphasizing how it isolates China and strengthens the U.S. position in global trade negotiations. The hosts highlight the positive market reaction, with major indices like the S&P 500, Dow, and Nasdaq experiencing substantial gains. Biggest stock market rise in a day in nearly 20 years.
The conversation includes insights from Treasury Secretary Scott Bessant and White House spokesperson Caroline Levitt, who explain the rationale behind the tariff adjustments and the broader strategy to encourage fair trade practices. The hosts also revisit their interview with economist Dr. Art Laffer, discussing his views on free trade and the economic impact of tariffs. Dr. Laffer advocates for zero tariffs globally, emphasizing the benefits of free trade and foreign investment in the U.S. economy.
Additionally, Clay and Buck address the complexities of the U.S.-China trade relationship, including issues of intellectual property theft and national security concerns. They explore the broader geopolitical implications, such as China's demographic challenges and potential aggression towards Taiwan. The hosts engage with callers, discussing various aspects of the trade wars and the economic strategies at play.
Towards the end of the hour, Buck Sexton shares personal updates about his impending fatherhood, receiving advice and well-wishes from listeners. The segment concludes with a heartfelt discussion about the joys and challenges of becoming a parent, marking a significant moment in Buck's life.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome back in Clay Travis buck Sexton Show. Appreciate all
of you hanging out with us. I hope you bought
the dip, because if you did, the stock market is
soaring S and P five hundred up eight percent right now, Buck,
(00:21):
I've never seen anything like it, nearly four hundred points.
The Dow is up twenty five hundred points, NASDAK up
fifteen hundred points. As I mentioned earlier, basically stocks are
priced where they were in September. I hope a lot
(00:41):
of you did not buy into the frenzy, the left
wing panic. I hope that you bought the dip, and
if you did, you have been handsomely rewarded already.
Speaker 2 (00:55):
I think it's worth noting that Donald Trump on truth
Social did put out yesterday. Now is a good time
to buy, so you know he's trying to help. He's
trying to help. Yes, I'm sorry, it was no, it
was four hours ago, not last night, four hours ago.
(01:17):
Trump in all caps, this is a great time to buy,
and yes, he was telling you the truth.
Speaker 1 (01:27):
All right, So let's give you the latest news and
then we're going to talk about the Art Laugher interview
and the larger tariff battle. So tariffs on China are
now going to one hundred and twenty five percent. And
what I will tell you is, if you go back
and listen to the first hour, if you go back
and listen to yesterday, we really kind of zeroed in
(01:50):
on the issue at play here. Zero tariffs is actually
a really good idea for Europe, for Japan, for Australia,
for South Korea, for countries that are fairly trading, there
should be reduced dishonesty, for lack of a better way
(02:11):
of putting.
Speaker 3 (02:11):
It, unfair trade from some of these tariffs.
Speaker 1 (02:15):
And I think bucket on a good example that Canada
has two hundred and fifty percent tariffs on dairy because
they don't want American milk, which is not much different
than Canadian milk, to come across their border because we
can produce milk at a cheaper rate than Canada can.
So they are protecting Canadian dairy farmers because they want
(02:39):
that industry to continue, as opposed to Canadians being able
to go to their supermarkets and get milk much cheaper
because it's coming from the United States. And look, there
are some tariffs that that might make sense. For instance,
let's say France. I think you mentioned this, Buck, France
has high tariffs on wine. They consider the French wine
(03:02):
to be superior to other wines, and they want French
people to be drinking their wine.
Speaker 3 (03:07):
Anyway.
Speaker 1 (03:08):
We can get into the economics basis for tariffs another time,
but basically, there are many countries with which free trade
makes sense, and what Trump is diagnosing is that China
right now is not one of those. And let's listen
to what Treasury Secretary Scott Bessant just announced, and we
(03:31):
have that audio right now. Let's go ahead. Here is
cut twenty five talking about every country out there ninety
day pause because they have not retaliated, but China's going
to be treated differently again cut twenty five.
Speaker 4 (03:48):
We saw the successful negotiating strategy that President Trump implemented
a week ago. Today, it has brought more than seventy
five countries forward to negotiate. It took great for great
courage for him to stay the course until this moment.
And what we have ended up with here, as I
told everyone.
Speaker 5 (04:08):
A week ago there in.
Speaker 4 (04:10):
This very spot, do not retaliate and you will be rewarded.
So every country in the world who wants to come
and negotiate.
Speaker 5 (04:20):
We are willing to hear you.
Speaker 4 (04:22):
We're going to go down to a ten percent baseline
tariff for them and China will be raised to one
five due to their insistence on escalation.
Speaker 1 (04:35):
Okay, So that is that explanation. Then he was asked,
is this a tariff war?
Speaker 3 (04:41):
Now? Is this a trade war?
Speaker 1 (04:44):
And so that was the next question that was asked,
and here was Besant's response, cut twenty six.
Speaker 6 (04:51):
So it's going to see it now this trade war
is China versus the Risen.
Speaker 4 (04:55):
Well, I'm not calling it a trade war, but I
am saying that China has s delated. And President Trump
responded very courageously to that, and we are going to
work on a solution with the are trading partners.
Speaker 3 (05:11):
Okay.
Speaker 1 (05:11):
Caroline Levitt, White House folksperson, then came out and said
what we have been telling you for some time, don't panic.
You don't seem in the media to be able to follow.
And let's be honest here, Buck, there's also any time
that there can be a panic that works against Trump.
The media stokes the fears, they drive up the terror,
(05:33):
and we tried to tamp that down and tell you, hey,
if you can't, you're too emotional, don't look at prices.
But a lot of people out there weren't willing to
do that. A lot of people sold Caroline Levitt cut
twenty seven.
Speaker 7 (05:45):
Many of you in the media clearly missed the art
of the deal. You clearly failed to see what President
Jump is doing here. You tried to say that the
rest of the world would be moved closer to China,
and in fact we've seen the opposite effect. The entire
world is calling the United States of America, not China,
because they need our markets, they need our consumers, and
they need this president in the Oval Office to talk
(06:08):
to them. If that's exactly why more than seventy five
countries have called. Because the United States of America is
the best place in the world to do business, and
as the President has shown great courage, as the Secretary
has said, in choosing to retaliate against China even higher.
Speaker 1 (06:22):
Okay, so that is the absolute latest from the White House. Now, buck,
let's dive in with Art Laugher, who wrote a great
piece in the Wall Street Journal. Art Laugher believes that
there should be zero, zero tariffs anywhere in the world.
He believes completely in free trade. He's a brilliant economist,
(06:44):
and I think sometimes there are going to be people
who come on the show and use the forum that
we have, which is very widely followed by the White House,
as is Fox News, to make arguments to the president.
I think that's why he wrote the editorial at the
Wall Street Journal. I think that's why he wanted to
come on, and I need to go have dinner with
(07:05):
him because he's a brilliant guy. But the idea, and again,
let me just kind of break this down from you
from my perspective, I'm curious if you will agree if
we went to zero tariffs with China. Let's pretend that
China said, hey, we're laying down our arms, no tariffs,
United States said no tariffs too. We would still have
a massive trade imbalance with China. And the massive trade
(07:28):
imbalance means that China produces a lot of goods and
they have a lot of jobs to produce those goods,
and the United States buy and large buys them. But
we don't have the jobs producing the same amount of goods.
And one of the challenges Trump is trying to rectify
is what's going on in the industrial heartland. Where the
jobs have been lost. Now, Art Laffer said, and I
(07:49):
do think this is true that Illinois, for instance, has
made awful economic decisions and that has led to jobs
inside of the United States migrating to states that have
made better economic decisions where you live Florida, where I live, Tennessee.
That's certainly true, and there is some culpability. But for instance,
(08:10):
Ohio has Republican leadership top to bottom now and it
still has lost a lot of jobs. Pennsylvania voted for
Donald Trump and voted for McCormick, and they have lost jobs.
Speaker 8 (08:22):
Now.
Speaker 1 (08:22):
It's true they have Democrat leadership in cities and many
oftentimes in governorships. But what was your take on that?
What is your take now with rapidly evolving news cycle,
as is often the case with the Trump administration.
Speaker 2 (08:36):
Well, I think this is what's interesting to me is
that the areas where there is some disagreement. I mean,
clearly Art was trying the art of the deal himself,
there by putting full faith in Trump, but not agreeing
with some of the principles that Trump has espoused for
a very long time, not just in this recent bout
(08:58):
of trade negotiations, but at some level. Saying the things
that Trump is saying is a necessary component of that
negotiation process because people have to be people have to
believe that you are willing to do the things you
say you will do. If I mean, let's be honest,
you're making kind of an economic threat. You know, empty threats.
(09:22):
The fastest way to lose all of your power, lose
all of your influence, is to make empty threats.
Speaker 5 (09:26):
Right.
Speaker 2 (09:27):
You know, if you ever shout at somebody you know,
oh I'm gonna get you know, You're you'll never work
in this town again, and they can laugh at you,
then you've lost a lot a lot of ground. And
if you say, I'm going to terrify you, but really,
I'm going to pause the tariffs next week, and really
I have no interest in taking this to the mat.
Speaker 3 (09:46):
If I have to do, you have no leverage.
Speaker 2 (09:48):
So so Trump some of what he has been saying,
I think has been a combination of the rebalancing that
he wants to achieve, but also establishing the necessary leverage
in the negotiations. You know, to get people leverage is
about pushing, right, you push a lever, pushing people to
do the things all in the global trade in these
(10:09):
global trade negotiations that he wants them to do. So
I think that that is bearing fruit already and really
the country when we're talking about national security concerns, Let's
be honest, Clay.
Speaker 3 (10:20):
You know, if France.
Speaker 2 (10:21):
Wants to have a ten percent or a twenty percent
or whatever tariff on their chemombert, you know, or on
their champagne, which is different than sparkling white wine. As
we know, even though Americans may be in the habit
of calling their sparkling white champagne, it's named for the region,
as we learned from Rob Low in Wayne's World. But
if they want a tariff cheese, we can live with that.
(10:43):
But if China is going to be providing all of
our robotics, electronics, antibiotics go down the list. That's a
problem for us, a bigger problem than I would if
the EU is doing that. I think we would feel
a lot better. I'm not saying that that's a desirable
scenario either, but your primary adversary, we have to remember,
(11:05):
China's an authoritarian regime, okay, It's run by the Chinese
Communist Party. Mal Sittong is one of the most evil
people who have ever run any country. In the history
of the planet, and he's the founder of modern China.
Like they got problems over there. This is not this
is not the UK, this is not Australia. Right, not
all countries are equal, And so focusing in the pressure
on China for this makes sense because that's they're not
(11:28):
only the biggest trade you know, manipulator and cheat. And
by the way, I disagree with Art when he says
like China's fine. I mean this is where we get
to the national security side of things. I don't know
if he's aware of how much IP theft they've engaged
in and how much cyber intrusion they have done, both
on the national security and economic espionage side. It's substantial. Again,
Arts an economics guy, I worked in the CIA.
Speaker 1 (11:50):
He said at the start, he said, like I think
Trump's the greatest, Like he basically said, all I care
about is economics.
Speaker 3 (11:55):
Which here's economics.
Speaker 2 (11:57):
So he does not know anything about national security in
this respect. And China is a national security threat in
trade as well because of the way that they steal
intellectual When I say intellectual property, I mean think about
someone like Elon Musk.
Speaker 3 (12:11):
SpaceX is rockets.
Speaker 2 (12:13):
It's the private company, but it's rockets. You know, you
can do a lot with that technology, right, and China's
stealing technology is a huge problem.
Speaker 1 (12:22):
Am I the only one who's still furious at China
because they let COVID happen. I mean, I know it's
five years ago, and maybe more than five years ago
based on some of the studies that are now coming
out about when exactly COVID may have started to circulate
in China. But I know much of our fight in
the United States was over Hey, some people want to
(12:42):
put on masks and their morons, and some people want
to shut down schools and their morons. And the worst
stuff we did to ourselves in this country, that's my problem.
The worst stuff we we the worst COVID stuff was
the result of stupid, just stupid decisions made here in America,
and we funded as we know, we funded that lab
as well, which not all of it, but some of it,
(13:02):
which was an useful decision. But my point on it
is China paid no penalty. China unleashed COVID on the world,
led to awful I agree with you policy decisions being
made in the United States, but they didn't come clean
about how it got out they never have told the
full story about anything, and so my inclination is not
(13:26):
to give China the benefit of the doubt on anything.
If anything, I actually am inclined to be more draconian
in the way that we treat them going forward, because
I think we're in a modern day Cold war, and
if China wins, I think the world loses.
Speaker 2 (13:44):
Yes, but see, this is the point. It's about more
than just correct who can make the cheapest widgets. It's
about more than that with China.
Speaker 3 (13:52):
With the EU, you know, it's about who.
Speaker 2 (13:55):
It's about cheese and beef products and cars and things.
And Trump can work all that out with It's something else.
We are not worried about a first strike from the
United Kingdom and them cutting off our critical supplies of
electronics and the things that we would need in order
to fight a modern war. We are worried about that
with China. Okay, So this is why it is in
(14:17):
fact different. It is not just we make stuff, they
make stuff. We have money, they have money. There are
additional factors that complicate the analysis. So we should get
to some of these talkbacks, play some of these calls,
because yeah, we touched on some of that, and look,
I think we should invite Senator Rampaul on soon because
he just thinks this whole thing is completely nuts and
(14:38):
he's a very smart guy, and I think we should
hear him out on this. Senator ramp Paul is a
very think I think I might agree with him more
than any Senator a greater percent of the time on issues.
I think that's probably true. I mean, there's a few,
you know, Ted Cruise, there's a few, but he's certainly
I know aman Ron Johnson just because I love him.
He's great there in Wisconsin holding it down all right.
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Speaker 2 (16:43):
A week of whiplash in the markets, my friends, focs
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Speaker 3 (17:00):
Clay.
Speaker 2 (17:01):
We have a lot to get into here, and I
think also people's opinions are they're fired up over what's
going on right now, not just with this swing, but
just everything about the trade, of the tariffs, that China
is increasingly the focus of all this China, which we
all remember first term Trump was all about China. So
we'll dig into this more calls, more talkbacks and really
(17:25):
kind of roll up our sleeves and look at where
we are.
Speaker 1 (17:28):
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Speaker 1 (18:54):
Welcome back in Clay, Travis buck Sexton Show. Appreciate all
of you hanging out with us. Okay, tons of you
weighing in wanting to talk about the absolute latest on
the trade battle that has been taking place. Again, if
you're just getting in your car, the stock market is
(19:16):
soaring nearly a twenty year high. NASDAC up over ten percent,
nearly a twenty year high. I am saying for purposes
of one day surge, the Dow is up seven percent.
Putting that into context, over twenty five hundred points. The
S and P five hundred has popped up massively, nearly
(19:40):
four hundred points, nearly eight percent, roughly of a pop
in the S and P five hundred. And by the way,
if you're out there and you're you know, wondering about stocks,
in the past year, the stock market S and P
five hundred up about four percent. So this whole calamitous
(20:01):
idea that they tried to sell, Oh my goodness, what
about your retirement? The stock prices are effectively the same
right now as they were in September of last year,
and you're up right around four percent in the last year. Again, average,
you're gonna make eight or nine percent. Some years you
might go down thirty, some years you might go up thirty.
(20:23):
But a lot of people out there went away in Okay,
who should we go to First, let's go to Larry
down in Palm Beach. Larry, what you got for it?
Speaker 6 (20:33):
Hey, guys, you know this thing with China, the one
thing that that's not been talked about is right now,
China's got a GNP of about three point seven trillion dollars,
but the United States has sold them eight hundred billion
dollars worth of treasury paper that they hold on their books.
And if they did anything really stupid, I have to
(20:55):
believe Trump holding the Trump card could put a match
to that eight hundred billion dollar debt to China.
Speaker 1 (21:02):
Thank you for the call, Larry. You raise a good point.
I actually think it's way more than eight hundred billion dollars.
I thought China had several team when you looked us
up in New York, I thought China had several trillion
dollars in debt securities. Now I mentioned this earlier Buck
because my concern if things went truly nuclear is China
(21:26):
could go on the market and flood the market with
our debt and basically torpedo the debt markets in general. Now,
that would be awful for them, because they have assets.
It doesn't make sense that.
Speaker 2 (21:38):
They would tend that value for their that's letting themselves
on fire to light us on fire.
Speaker 3 (21:42):
That's not going to make a lot.
Speaker 1 (21:43):
Of sense, correct, But I do think that that is
the caller's point is a good one, and honestly, I
don't think it's ideal that we allow. Frankly, this is
my opinion. I don't think it's ideal that we have
foreign countries holding massive amounts of our debt. I think
that that is a is a security risk on some level.
(22:03):
But China does have a massive amount. I'll look up
the exact dollars ken in Southeast Michigan. What you got
for us?
Speaker 8 (22:11):
Well, I just wanted to share with you an example
the prices increasing.
Speaker 6 (22:16):
Now.
Speaker 8 (22:16):
I support Trump, I understand what's going on. But for
people that don't, just in an example, the price of
the same can of suit when Biden took over was
a dollar seventy nine. Last week when I did my
grocery shopping, it was two dollars and thirty nine cents
(22:37):
today two dollars and fifty nine cents. So prices are
going up.
Speaker 3 (22:43):
Okay, thanks for the call.
Speaker 1 (22:44):
Look, I look, let me just say this, the data
does not reflect that that is occurring.
Speaker 3 (22:50):
Okay, the UH.
Speaker 2 (22:52):
I can actually jump in with something cause I think
he said when Biden took over. Yeah, well, when Biden
took over, what was the price in two years? If
you're talking about starting in twenty twenty, that is when
inflation went completely out of control? Is Biden came in
and spent trillions of dollars unnecessarily, So it's not about when,
But you have to look at Biden starting, Biden ending,
(23:14):
and then look where we are, or else you're not
even getting a relevant snapshot.
Speaker 3 (23:19):
Yeah.
Speaker 1 (23:19):
Sorry, and just talking to his point, the price for
Biden went up over twenty percent. He is correct if
that's what he was talking about. Since Trump has come
into office, the data is that grocery prices are increasing
actually slower than the rate of inflation out there. Okay,
so here, by the way, he may be right. China
(23:39):
eight hundred billion. I want to correct myself. I thought
they had over a trillion, and they used to have
over a trillion.
Speaker 3 (23:46):
They used to have over a trillion.
Speaker 1 (23:47):
They have sold down the amount of death that they
have according to this foreign country's own eight trillion dollars,
that's around twenty percent between twenty and twenty five five
percent of the total US debt out there, and China
used to have over a trillion dollars. They since have
sold it back. So I want to correct myself. A
(24:08):
caller there was, right, Steve in Columbus, Ohio. What you
got for us?
Speaker 5 (24:12):
Yeah?
Speaker 9 (24:13):
Hey, As far as opening up our markets or their
markets to us, I've been selling on eBay for twenty
years and I have over four thousand listings. In that
amount of time, I've had three shipments I had to
send to China because their people don't have access to
the to our Internet sales and we're locked out of that.
Speaker 3 (24:37):
Yeah, thank you for the call.
Speaker 1 (24:38):
This this has been my argument buying large Buck you
have been let's talk about TikTok, which they're talking about
trying to get a deal done, and it's now hung
up in the geopolitical tensions with China. My argument on
the TikTok front has been that we should have reciprocity
in technology. In other words, Google's not allowed to access
(24:59):
the Chinese mone market. Twitter is not allowed access to
the Chinese market. Our big social media tech companies Buy
and Large Facebook are not allowed to have access to
Chinese markets. That's an example of a sort of tariff
that's put up. It's a tech tariff, so that China
can basically create clone companies that do many of the
(25:20):
same things, but they are Chinese owned. Meanwhile, they want
to come here and they want to create TikTok, which
is Chinese owned. Now, if it's American owned, which is
the report that's out there, that Chinese ownership of TikTok
would go down to twenty percent, that it would be
fifty percent owned by American entities and thirty percent with
(25:40):
existing investors. That I think is a good solution. But
that is to his caller point, you're not allowed to
compete in the Chinese marketplace. Meanwhile, they flood what is it,
timu and which is they flood the American marketplace with
cheaply produced Chinese goods. Will not allow us to compete
(26:01):
on a reciprocal basis in China.
Speaker 2 (26:04):
For a lot of us. If you're on Amazon, what
you find is that Amazon is like one giant shipping
shipping depot for stuff made in China. Yes, now I
know they have a lot of stuff that's not from
but you know, most of the things when you're getting
random things on Amazon that you just need for your
house or whatever it may be. I don't know, maybe
you need a portable sleeping bag. Suddenly guess what comes
(26:27):
from China. So you need to keep that in mind
as well. This is what has been This is what
has been going on here, and I think, you know,
if all the things that China has been doing aren't
a problem. Again, not to argue with Art in his absence,
but I guess that's what I'm doing. If everything that
China's been doing isn't a problem, why does the World
(26:48):
Trade Organization have all these agreements that China violates, right violating? Like,
what's the point of the WTO If you can break
all the rules of the WTO and that doesn't actually
hurt anybody, Yes, there would be no need for any
rule and everybody should be in the WTO.
Speaker 3 (27:02):
Okay.
Speaker 2 (27:02):
So clearly there's some downsides to what China is doing,
and I think we need to be very aware of that.
And Trump, look what's this gosh, I'm forgetting his name now,
the acman, Bill Ackman, the hedge fund guy. You know,
he said that we should have a ninety day pause.
Now we have a ninety day pause. So and the
(27:24):
markets are reacting to this because what they really just
need is is a sense of stability and a roadmap
for what's going to happen here. What freak outs them,
what freaks the market out, is what the heck is
going on? We don't know what's going on, right, And
that's why I had all this hedge fund money getting
pulled from the markets and everything else. Because but now
that they have some sense of what the future, at
least the next ninety days is going to look like.
(27:45):
But I think also the strategy is more clear to people.
David in Houston has an idea he wants to share.
Speaker 3 (27:50):
What's up, David.
Speaker 10 (27:51):
Yeah, I was thinking that if Trump, if Trump really
wanted to do the Trump cart on the Chinese debt,
what he can do is he can do a government
the government transaction privately, not even enter into the markets.
Pay fifty cents on a dollar on the US debt
that the Chinese hold put on the Federal Reserve balance
sheet in the government's name. And then what we have
(28:13):
here is we got debt paid off at fifty cents
on the dollar and it doesn't affect the interest rate market.
And that's a private transaction.
Speaker 1 (28:24):
Look, what Trump wanted to do with the debt, which
I loved and didn't happen was he argued we should
be able to refy our debt and basically lock in
interest rates. That is really kind of an interesting angle
when interest rates were super low. Because buck, as we
have pointed out, I appreciate the call China doesn't produce.
(28:47):
I don't think China has a substantial debt. I mean,
the reason they're buying the United States debt obligations is
because they actually have a trade surplus I believe. I
don't think they have created a massive death the likes
of which we have created. Again, I'm not an expert
in the Chinese budget, and frankly, a lot of the
(29:09):
data that comes out of China you can't trust, for instance,
their historic growth rates, all those things. I will say
one issue that China has, which is I think something
that is undergirding much of this. Their population is peaked.
If you look at the projections because of the one
child China policy, which did have immediate short term benefits,
(29:32):
it's a bit of a sugar high because over the
next eighty or one hundred years, the population of China
is projected to cut in half because they can't get
people to have kids, and that's a larger issue in
the world, whether it's Italy, whether it's Japan, frankly, whether
it's United States for native born population. And so I
think China is probably at the peak of their economic
(29:54):
might right now. In fact, I think China's economic might
has already passed. And I've made the argument buck it
reminds me a little bit of Japan in the eighties.
If you're old enough to remember, everybody looked at the
trajectories and they said, oh my goodness, China's I mean,
Japan's going to buy everything. Japan is going to own
everything in the United States. And meanwhile there's stock market
flat lined and it didn't grow for about forty years.
(30:15):
And so I think we have reached peak China power,
and I think we're actually on the backside now. And
certainly demographics are part of that, and I think that's
why there's a quiet panic setting in in China, and
I have some fear that they might invade Taiwan as
a result, because if you look historically, usually countries don't
(30:37):
act at their peak. They act when they have begun
their decline in ways that appear irrational. Because deep down
there's a fear of the decline. So anyway that is
out there I think floating around, I would submit to
you that I think China is on the back end
and that they are actually going to panic more so
in the years ahead going.
Speaker 2 (30:58):
Well, But countries that feel like they're actually in decline
and have problems can get very aggressive.
Speaker 1 (31:04):
Well, that's when they actually tend to get the most aggressive,
which is why you know, it's not.
Speaker 2 (31:09):
Like, oh, we can just be on this glide path
that China's economic and power deterioration. Things become destabilized inside
of a place like China as they have more problems
and less rosy prospects for the future.
Speaker 1 (31:26):
Let me talk to you a little bit about Israel,
which has moved off the front pages because there's been
so much attention on the tariff battles of late. But
Israel has gone back into Gaza. They have restarted the
war in the North with Hesboula, and certainly you've probably
seen some of the stories about the Hooties and what's
going on there and the larger geopolitical tension with Iran
(31:48):
with talks scheduled on Saturday. Lots going on there but
the key thing to remember is the people of Israel
are still fighting to preserve Western civil is a, freedom
of religion, freedom of speech. They are uniquely the good
in what is often countries ruled by awful despots in
(32:09):
the Middle East, and as a result, the union between
Christians and Jews is substantial. And that's what happens every
single day at the International Fellowship of Christians and Jews.
They provide life saving aid and security essentials to everyone,
and your urgently needed gift today will help provide security
essentials like bomb shelters, flack jackets, bulletproof vests. They'll help
(32:32):
first responders, armored security vehicles, ambulances and more. Join us,
both Buck and myself in standing with Israel. Call to
make your gift at eight eight eight for eight eight IFCJ.
That's eight eight eight four eight eight four three two five.
You can go online at SUPPORTIFCJ dot org to give
(32:53):
as well. That website support IFCJ dot org. With the
biggest political comeback in world history. On the Team forty
seven podcast, Clay and Buck highlight Trump free plays from.
Speaker 3 (33:07):
The week Sundays at noon Eastern.
Speaker 1 (33:09):
Find it on the iHeartRadio app or wherever you get
your podcasts.
Speaker 3 (33:15):
Welcome back. In the last segment.
Speaker 1 (33:17):
For Buck before he becomes a dad, I got a
couple of great advice points for him. He's gonna be
headed to the hospital here in a little bit for
induced baby.
Speaker 3 (33:27):
I can't wait.
Speaker 1 (33:28):
Congratulations to you and carry It's gonna be fantastic. And
let's get the last couple of bits of advice out
there from our audience. Scott practical advice about what to
do when a baby cries.
Speaker 5 (33:46):
Hey, Buck, my advice if your baby is crying and bussy,
she is either hungry, or she's dirty and needs to
be clean, or she's pull it needs to be perm
and make sure you purper or you will put it
on you just either those didn't take your form or
your wrist and check your forehead or fever.
Speaker 1 (34:06):
I will say, Buck, one of the cool things. And
I think you're going to find this out in the
years ahead, and I bet most of the moms and
dads and grandmas and grandpa's out there will sign off
on this too. No matter what you do, that kid
is going to have its own unique personality. And you
can get a baby that sleeps like an angel, or
you can get an absolute crazed child, and the differences
(34:31):
between baby one, Baby two, baby three can be seismic
and you can treat them all the exact same and
things will be very different.
Speaker 3 (34:39):
But it's so exciting, and it is I.
Speaker 1 (34:42):
Mean, for me, when I go back in time now
and think about, you know, seventeen years ago when my
first son was born, it is such an incredible experience
to realize that you get the gift of helping to
shape the next generation. And whether you're a dad or
a mom, or grandma or grandpa, that experience of seeing
(35:03):
a new generation born is just such an incredibly optimistic moment.
So I'm happy for you and Carrie. I think you
will be blown away, even though you've been thinking about
it a lot, that moment of crystallization, when the baby
is there and suddenly you're holding that baby for the
first time, it's hard not to be incredibly optimistic, in
my opinion, about the future of the world. When you
(35:26):
actually are holding the future of the world in your arms.
It's pretty awesome. That was very beautiful.
Speaker 2 (35:36):
I don't even know, I'm I'm a little I mean.
Speaker 1 (35:40):
It's it's I mean, it's it really is just super awesome,
and so you can prepare for it. You got nine
months to think about it, but until you got that
baby in your arms, it's hard to crystallize it. And
I think you'll know what I'm talking about later tonight,
late tonight, or maybe early tomorrow morning. So we're excited
for you. We'll give you updates. By the way, you
want to say your last minute without being a dad
(36:02):
on the radio.
Speaker 2 (36:03):
Well that I'm so excited to join the ranks of
the parents out there, and I know so many of
you listen to this show, and it's going to be
a fun journey with me telling you about my first
steps in parenthood. I'm going to be out tomorrow through
at least Monday. I might be back Monday, maybe a
little later next week. We'll kind of see how things go.
(36:25):
But all of your well wishes and prayers and high
fives and hugs are very very much appreciated. You will
be in excellent hands with mister Clay Travis for the
rest of the week here. He has assured me that
he will prevent the global economy from completely melting down.
Speaker 3 (36:40):
No pressure, no pressure, that's the goal. Thanks everybody.
Speaker 2 (36:44):
I'll give some updates and the show we'll share with you,
God willing, everything goes great, and I'll talk to you
all next week
Welcome back in Clay Travis buck Sexton Show. Appreciate all
of you hanging out with us. I hope you bought
the dip, because if you did, the stock market is
soaring S and P five hundred up eight percent right now, Buck,
(00:21):
I've never seen anything like it, nearly four hundred points.
The Dow is up twenty five hundred points, NASDAK up
fifteen hundred points. As I mentioned earlier, basically stocks are
priced where they were in September. I hope a lot
(00:41):
of you did not buy into the frenzy, the left
wing panic. I hope that you bought the dip, and
if you did, you have been handsomely rewarded already.
Speaker 2 (00:55):
I think it's worth noting that Donald Trump on truth
Social did put out yesterday. Now is a good time
to buy, so you know he's trying to help. He's
trying to help. Yes, I'm sorry, it was no, it
was four hours ago, not last night, four hours ago.
(01:17):
Trump in all caps, this is a great time to buy,
and yes, he was telling you the truth.
Speaker 1 (01:27):
All right, So let's give you the latest news and
then we're going to talk about the Art Laugher interview
and the larger tariff battle. So tariffs on China are
now going to one hundred and twenty five percent. And
what I will tell you is, if you go back
and listen to the first hour, if you go back
and listen to yesterday, we really kind of zeroed in
(01:50):
on the issue at play here. Zero tariffs is actually
a really good idea for Europe, for Japan, for Australia,
for South Korea, for countries that are fairly trading, there
should be reduced dishonesty, for lack of a better way
(02:11):
of putting.
Speaker 3 (02:11):
It, unfair trade from some of these tariffs.
Speaker 1 (02:15):
And I think bucket on a good example that Canada
has two hundred and fifty percent tariffs on dairy because
they don't want American milk, which is not much different
than Canadian milk, to come across their border because we
can produce milk at a cheaper rate than Canada can.
So they are protecting Canadian dairy farmers because they want
(02:39):
that industry to continue, as opposed to Canadians being able
to go to their supermarkets and get milk much cheaper
because it's coming from the United States. And look, there
are some tariffs that that might make sense. For instance,
let's say France. I think you mentioned this, Buck, France
has high tariffs on wine. They consider the French wine
(03:02):
to be superior to other wines, and they want French
people to be drinking their wine.
Speaker 3 (03:07):
Anyway.
Speaker 1 (03:08):
We can get into the economics basis for tariffs another time,
but basically, there are many countries with which free trade
makes sense, and what Trump is diagnosing is that China
right now is not one of those. And let's listen
to what Treasury Secretary Scott Bessant just announced, and we
(03:31):
have that audio right now. Let's go ahead. Here is
cut twenty five talking about every country out there ninety
day pause because they have not retaliated, but China's going
to be treated differently again cut twenty five.
Speaker 4 (03:48):
We saw the successful negotiating strategy that President Trump implemented
a week ago. Today, it has brought more than seventy
five countries forward to negotiate. It took great for great
courage for him to stay the course until this moment.
And what we have ended up with here, as I
told everyone.
Speaker 5 (04:08):
A week ago there in.
Speaker 4 (04:10):
This very spot, do not retaliate and you will be rewarded.
So every country in the world who wants to come
and negotiate.
Speaker 5 (04:20):
We are willing to hear you.
Speaker 4 (04:22):
We're going to go down to a ten percent baseline
tariff for them and China will be raised to one
five due to their insistence on escalation.
Speaker 1 (04:35):
Okay, So that is that explanation. Then he was asked,
is this a tariff war?
Speaker 3 (04:41):
Now? Is this a trade war?
Speaker 1 (04:44):
And so that was the next question that was asked,
and here was Besant's response, cut twenty six.
Speaker 6 (04:51):
So it's going to see it now this trade war
is China versus the Risen.
Speaker 4 (04:55):
Well, I'm not calling it a trade war, but I
am saying that China has s delated. And President Trump
responded very courageously to that, and we are going to
work on a solution with the are trading partners.
Speaker 3 (05:11):
Okay.
Speaker 1 (05:11):
Caroline Levitt, White House folksperson, then came out and said
what we have been telling you for some time, don't panic.
You don't seem in the media to be able to follow.
And let's be honest here, Buck, there's also any time
that there can be a panic that works against Trump.
The media stokes the fears, they drive up the terror,
(05:33):
and we tried to tamp that down and tell you, hey,
if you can't, you're too emotional, don't look at prices.
But a lot of people out there weren't willing to
do that. A lot of people sold Caroline Levitt cut
twenty seven.
Speaker 7 (05:45):
Many of you in the media clearly missed the art
of the deal. You clearly failed to see what President
Jump is doing here. You tried to say that the
rest of the world would be moved closer to China,
and in fact we've seen the opposite effect. The entire
world is calling the United States of America, not China,
because they need our markets, they need our consumers, and
they need this president in the Oval Office to talk
(06:08):
to them. If that's exactly why more than seventy five
countries have called. Because the United States of America is
the best place in the world to do business, and
as the President has shown great courage, as the Secretary
has said, in choosing to retaliate against China even higher.
Speaker 1 (06:22):
Okay, so that is the absolute latest from the White House. Now, buck,
let's dive in with Art Laugher, who wrote a great
piece in the Wall Street Journal. Art Laugher believes that
there should be zero, zero tariffs anywhere in the world.
He believes completely in free trade. He's a brilliant economist,
(06:44):
and I think sometimes there are going to be people
who come on the show and use the forum that
we have, which is very widely followed by the White House,
as is Fox News, to make arguments to the president.
I think that's why he wrote the editorial at the
Wall Street Journal. I think that's why he wanted to
come on, and I need to go have dinner with
(07:05):
him because he's a brilliant guy. But the idea, and again,
let me just kind of break this down from you
from my perspective, I'm curious if you will agree if
we went to zero tariffs with China. Let's pretend that
China said, hey, we're laying down our arms, no tariffs,
United States said no tariffs too. We would still have
a massive trade imbalance with China. And the massive trade
(07:28):
imbalance means that China produces a lot of goods and
they have a lot of jobs to produce those goods,
and the United States buy and large buys them. But
we don't have the jobs producing the same amount of goods.
And one of the challenges Trump is trying to rectify
is what's going on in the industrial heartland. Where the
jobs have been lost. Now, Art Laffer said, and I
(07:49):
do think this is true that Illinois, for instance, has
made awful economic decisions and that has led to jobs
inside of the United States migrating to states that have
made better economic decisions where you live Florida, where I live, Tennessee.
That's certainly true, and there is some culpability. But for instance,
(08:10):
Ohio has Republican leadership top to bottom now and it
still has lost a lot of jobs. Pennsylvania voted for
Donald Trump and voted for McCormick, and they have lost jobs.
Speaker 8 (08:22):
Now.
Speaker 1 (08:22):
It's true they have Democrat leadership in cities and many
oftentimes in governorships. But what was your take on that?
What is your take now with rapidly evolving news cycle,
as is often the case with the Trump administration.
Speaker 2 (08:36):
Well, I think this is what's interesting to me is
that the areas where there is some disagreement. I mean,
clearly Art was trying the art of the deal himself,
there by putting full faith in Trump, but not agreeing
with some of the principles that Trump has espoused for
a very long time, not just in this recent bout
(08:58):
of trade negotiations, but at some level. Saying the things
that Trump is saying is a necessary component of that
negotiation process because people have to be people have to
believe that you are willing to do the things you
say you will do. If I mean, let's be honest,
you're making kind of an economic threat. You know, empty threats.
(09:22):
The fastest way to lose all of your power, lose
all of your influence, is to make empty threats.
Speaker 5 (09:26):
Right.
Speaker 2 (09:27):
You know, if you ever shout at somebody you know,
oh I'm gonna get you know, You're you'll never work
in this town again, and they can laugh at you,
then you've lost a lot a lot of ground. And
if you say, I'm going to terrify you, but really,
I'm going to pause the tariffs next week, and really
I have no interest in taking this to the mat.
Speaker 3 (09:46):
If I have to do, you have no leverage.
Speaker 2 (09:48):
So so Trump some of what he has been saying,
I think has been a combination of the rebalancing that
he wants to achieve, but also establishing the necessary leverage
in the negotiations. You know, to get people leverage is
about pushing, right, you push a lever, pushing people to
do the things all in the global trade in these
(10:09):
global trade negotiations that he wants them to do. So
I think that that is bearing fruit already and really
the country when we're talking about national security concerns, Let's
be honest, Clay.
Speaker 3 (10:20):
You know, if France.
Speaker 2 (10:21):
Wants to have a ten percent or a twenty percent
or whatever tariff on their chemombert, you know, or on
their champagne, which is different than sparkling white wine. As
we know, even though Americans may be in the habit
of calling their sparkling white champagne, it's named for the region,
as we learned from Rob Low in Wayne's World. But
if they want a tariff cheese, we can live with that.
(10:43):
But if China is going to be providing all of
our robotics, electronics, antibiotics go down the list. That's a
problem for us, a bigger problem than I would if
the EU is doing that. I think we would feel
a lot better. I'm not saying that that's a desirable
scenario either, but your primary adversary, we have to remember,
(11:05):
China's an authoritarian regime, okay, It's run by the Chinese
Communist Party. Mal Sittong is one of the most evil
people who have ever run any country. In the history
of the planet, and he's the founder of modern China.
Like they got problems over there. This is not this
is not the UK, this is not Australia. Right, not
all countries are equal, And so focusing in the pressure
on China for this makes sense because that's they're not
(11:28):
only the biggest trade you know, manipulator and cheat. And
by the way, I disagree with Art when he says
like China's fine. I mean this is where we get
to the national security side of things. I don't know
if he's aware of how much IP theft they've engaged
in and how much cyber intrusion they have done, both
on the national security and economic espionage side. It's substantial. Again,
Arts an economics guy, I worked in the CIA.
Speaker 1 (11:50):
He said at the start, he said, like I think
Trump's the greatest, Like he basically said, all I care
about is economics.
Speaker 3 (11:55):
Which here's economics.
Speaker 2 (11:57):
So he does not know anything about national security in
this respect. And China is a national security threat in
trade as well because of the way that they steal
intellectual When I say intellectual property, I mean think about
someone like Elon Musk.
Speaker 3 (12:11):
SpaceX is rockets.
Speaker 2 (12:13):
It's the private company, but it's rockets. You know, you
can do a lot with that technology, right, and China's
stealing technology is a huge problem.
Speaker 1 (12:22):
Am I the only one who's still furious at China
because they let COVID happen. I mean, I know it's
five years ago, and maybe more than five years ago
based on some of the studies that are now coming
out about when exactly COVID may have started to circulate
in China. But I know much of our fight in
the United States was over Hey, some people want to
(12:42):
put on masks and their morons, and some people want
to shut down schools and their morons. And the worst
stuff we did to ourselves in this country, that's my problem.
The worst stuff we we the worst COVID stuff was
the result of stupid, just stupid decisions made here in America,
and we funded as we know, we funded that lab
as well, which not all of it, but some of it,
(13:02):
which was an useful decision. But my point on it
is China paid no penalty. China unleashed COVID on the world,
led to awful I agree with you policy decisions being
made in the United States, but they didn't come clean
about how it got out they never have told the
full story about anything, and so my inclination is not
(13:26):
to give China the benefit of the doubt on anything.
If anything, I actually am inclined to be more draconian
in the way that we treat them going forward, because
I think we're in a modern day Cold war, and
if China wins, I think the world loses.
Speaker 2 (13:44):
Yes, but see, this is the point. It's about more
than just correct who can make the cheapest widgets. It's
about more than that with China.
Speaker 3 (13:52):
With the EU, you know, it's about who.
Speaker 2 (13:55):
It's about cheese and beef products and cars and things.
And Trump can work all that out with It's something else.
We are not worried about a first strike from the
United Kingdom and them cutting off our critical supplies of
electronics and the things that we would need in order
to fight a modern war. We are worried about that
with China. Okay, So this is why it is in
(14:17):
fact different. It is not just we make stuff, they
make stuff. We have money, they have money. There are
additional factors that complicate the analysis. So we should get
to some of these talkbacks, play some of these calls,
because yeah, we touched on some of that, and look,
I think we should invite Senator Rampaul on soon because
he just thinks this whole thing is completely nuts and
(14:38):
he's a very smart guy, and I think we should
hear him out on this. Senator ramp Paul is a
very think I think I might agree with him more
than any Senator a greater percent of the time on issues.
I think that's probably true. I mean, there's a few,
you know, Ted Cruise, there's a few, but he's certainly
I know aman Ron Johnson just because I love him.
He's great there in Wisconsin holding it down all right.
(15:02):
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Speaker 5 (16:28):
You know him as conservative radio hosts, Now just get
to know them as guys.
Speaker 1 (16:33):
On this Sunday hang podcast with Clay and Buck. Find
it in their podcast feed on the iHeartRadio app or
wherever you get your podcasts.
Speaker 2 (16:43):
A week of whiplash in the markets, my friends, focs
skyrocketing right now. Somebody told you a good time to
buy four hours ago, probably telling you the truth because
it's a good time. It was a good time, and
his name was Donald Trump.
Speaker 3 (17:00):
Clay.
Speaker 2 (17:01):
We have a lot to get into here, and I
think also people's opinions are they're fired up over what's
going on right now, not just with this swing, but
just everything about the trade, of the tariffs, that China
is increasingly the focus of all this China, which we
all remember first term Trump was all about China. So
we'll dig into this more calls, more talkbacks and really
(17:25):
kind of roll up our sleeves and look at where
we are.
Speaker 1 (17:28):
No doubt, and a lot of you want to weigh in.
But again, this is the biggest stock market rise in
a day in nearly twenty years, so it is popped
and popped in a good way. We'll break all that
down for you, But do you need more energy? Are
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Speaker 1 (18:54):
Welcome back in Clay, Travis buck Sexton Show. Appreciate all
of you hanging out with us. Okay, tons of you
weighing in wanting to talk about the absolute latest on
the trade battle that has been taking place. Again, if
you're just getting in your car, the stock market is
(19:16):
soaring nearly a twenty year high. NASDAC up over ten percent,
nearly a twenty year high. I am saying for purposes
of one day surge, the Dow is up seven percent.
Putting that into context, over twenty five hundred points. The
S and P five hundred has popped up massively, nearly
(19:40):
four hundred points, nearly eight percent, roughly of a pop
in the S and P five hundred. And by the way,
if you're out there and you're you know, wondering about stocks,
in the past year, the stock market S and P
five hundred up about four percent. So this whole calamitous
(20:01):
idea that they tried to sell, Oh my goodness, what
about your retirement? The stock prices are effectively the same
right now as they were in September of last year,
and you're up right around four percent in the last year. Again, average,
you're gonna make eight or nine percent. Some years you
might go down thirty, some years you might go up thirty.
(20:23):
But a lot of people out there went away in Okay,
who should we go to First, let's go to Larry
down in Palm Beach. Larry, what you got for it?
Speaker 6 (20:33):
Hey, guys, you know this thing with China, the one
thing that that's not been talked about is right now,
China's got a GNP of about three point seven trillion dollars,
but the United States has sold them eight hundred billion
dollars worth of treasury paper that they hold on their books.
And if they did anything really stupid, I have to
(20:55):
believe Trump holding the Trump card could put a match
to that eight hundred billion dollar debt to China.
Speaker 1 (21:02):
Thank you for the call, Larry. You raise a good point.
I actually think it's way more than eight hundred billion dollars.
I thought China had several team when you looked us
up in New York, I thought China had several trillion
dollars in debt securities. Now I mentioned this earlier Buck
because my concern if things went truly nuclear is China
(21:26):
could go on the market and flood the market with
our debt and basically torpedo the debt markets in general. Now,
that would be awful for them, because they have assets.
It doesn't make sense that.
Speaker 2 (21:38):
They would tend that value for their that's letting themselves
on fire to light us on fire.
Speaker 3 (21:42):
That's not going to make a lot.
Speaker 1 (21:43):
Of sense, correct, But I do think that that is
the caller's point is a good one, and honestly, I
don't think it's ideal that we allow. Frankly, this is
my opinion. I don't think it's ideal that we have
foreign countries holding massive amounts of our debt. I think
that that is a is a security risk on some level.
(22:03):
But China does have a massive amount. I'll look up
the exact dollars ken in Southeast Michigan. What you got
for us?
Speaker 8 (22:11):
Well, I just wanted to share with you an example
the prices increasing.
Speaker 6 (22:16):
Now.
Speaker 8 (22:16):
I support Trump, I understand what's going on. But for
people that don't, just in an example, the price of
the same can of suit when Biden took over was
a dollar seventy nine. Last week when I did my
grocery shopping, it was two dollars and thirty nine cents
(22:37):
today two dollars and fifty nine cents. So prices are
going up.
Speaker 3 (22:43):
Okay, thanks for the call.
Speaker 1 (22:44):
Look, I look, let me just say this, the data
does not reflect that that is occurring.
Speaker 3 (22:50):
Okay, the UH.
Speaker 2 (22:52):
I can actually jump in with something cause I think
he said when Biden took over. Yeah, well, when Biden
took over, what was the price in two years? If
you're talking about starting in twenty twenty, that is when
inflation went completely out of control? Is Biden came in
and spent trillions of dollars unnecessarily, So it's not about when,
But you have to look at Biden starting, Biden ending,
(23:14):
and then look where we are, or else you're not
even getting a relevant snapshot.
Speaker 3 (23:19):
Yeah.
Speaker 1 (23:19):
Sorry, and just talking to his point, the price for
Biden went up over twenty percent. He is correct if
that's what he was talking about. Since Trump has come
into office, the data is that grocery prices are increasing
actually slower than the rate of inflation out there. Okay,
so here, by the way, he may be right. China
(23:39):
eight hundred billion. I want to correct myself. I thought
they had over a trillion, and they used to have
over a trillion.
Speaker 3 (23:46):
They used to have over a trillion.
Speaker 1 (23:47):
They have sold down the amount of death that they
have according to this foreign country's own eight trillion dollars,
that's around twenty percent between twenty and twenty five five
percent of the total US debt out there, and China
used to have over a trillion dollars. They since have
sold it back. So I want to correct myself. A
(24:08):
caller there was, right, Steve in Columbus, Ohio. What you
got for us?
Speaker 5 (24:12):
Yeah?
Speaker 9 (24:13):
Hey, As far as opening up our markets or their
markets to us, I've been selling on eBay for twenty
years and I have over four thousand listings. In that
amount of time, I've had three shipments I had to
send to China because their people don't have access to
the to our Internet sales and we're locked out of that.
Speaker 3 (24:37):
Yeah, thank you for the call.
Speaker 1 (24:38):
This this has been my argument buying large Buck you
have been let's talk about TikTok, which they're talking about
trying to get a deal done, and it's now hung
up in the geopolitical tensions with China. My argument on
the TikTok front has been that we should have reciprocity
in technology. In other words, Google's not allowed to access
(24:59):
the Chinese mone market. Twitter is not allowed access to
the Chinese market. Our big social media tech companies Buy
and Large Facebook are not allowed to have access to
Chinese markets. That's an example of a sort of tariff
that's put up. It's a tech tariff, so that China
can basically create clone companies that do many of the
(25:20):
same things, but they are Chinese owned. Meanwhile, they want
to come here and they want to create TikTok, which
is Chinese owned. Now, if it's American owned, which is
the report that's out there, that Chinese ownership of TikTok
would go down to twenty percent, that it would be
fifty percent owned by American entities and thirty percent with
(25:40):
existing investors. That I think is a good solution. But
that is to his caller point, you're not allowed to
compete in the Chinese marketplace. Meanwhile, they flood what is it,
timu and which is they flood the American marketplace with
cheaply produced Chinese goods. Will not allow us to compete
(26:01):
on a reciprocal basis in China.
Speaker 2 (26:04):
For a lot of us. If you're on Amazon, what
you find is that Amazon is like one giant shipping
shipping depot for stuff made in China. Yes, now I
know they have a lot of stuff that's not from
but you know, most of the things when you're getting
random things on Amazon that you just need for your
house or whatever it may be. I don't know, maybe
you need a portable sleeping bag. Suddenly guess what comes
(26:27):
from China. So you need to keep that in mind
as well. This is what has been This is what
has been going on here, and I think, you know,
if all the things that China has been doing aren't
a problem. Again, not to argue with Art in his absence,
but I guess that's what I'm doing. If everything that
China's been doing isn't a problem, why does the World
(26:48):
Trade Organization have all these agreements that China violates, right violating? Like,
what's the point of the WTO If you can break
all the rules of the WTO and that doesn't actually
hurt anybody, Yes, there would be no need for any
rule and everybody should be in the WTO.
Speaker 3 (27:02):
Okay.
Speaker 2 (27:02):
So clearly there's some downsides to what China is doing,
and I think we need to be very aware of that.
And Trump, look what's this gosh, I'm forgetting his name now,
the acman, Bill Ackman, the hedge fund guy. You know,
he said that we should have a ninety day pause.
Now we have a ninety day pause. So and the
(27:24):
markets are reacting to this because what they really just
need is is a sense of stability and a roadmap
for what's going to happen here. What freak outs them,
what freaks the market out, is what the heck is
going on? We don't know what's going on, right, And
that's why I had all this hedge fund money getting
pulled from the markets and everything else. Because but now
that they have some sense of what the future, at
least the next ninety days is going to look like.
(27:45):
But I think also the strategy is more clear to people.
David in Houston has an idea he wants to share.
Speaker 3 (27:50):
What's up, David.
Speaker 10 (27:51):
Yeah, I was thinking that if Trump, if Trump really
wanted to do the Trump cart on the Chinese debt,
what he can do is he can do a government
the government transaction privately, not even enter into the markets.
Pay fifty cents on a dollar on the US debt
that the Chinese hold put on the Federal Reserve balance
sheet in the government's name. And then what we have
(28:13):
here is we got debt paid off at fifty cents
on the dollar and it doesn't affect the interest rate market.
And that's a private transaction.
Speaker 1 (28:24):
Look, what Trump wanted to do with the debt, which
I loved and didn't happen was he argued we should
be able to refy our debt and basically lock in
interest rates. That is really kind of an interesting angle
when interest rates were super low. Because buck, as we
have pointed out, I appreciate the call China doesn't produce.
(28:47):
I don't think China has a substantial debt. I mean,
the reason they're buying the United States debt obligations is
because they actually have a trade surplus I believe. I
don't think they have created a massive death the likes
of which we have created. Again, I'm not an expert
in the Chinese budget, and frankly, a lot of the
(29:09):
data that comes out of China you can't trust, for instance,
their historic growth rates, all those things. I will say
one issue that China has, which is I think something
that is undergirding much of this. Their population is peaked.
If you look at the projections because of the one
child China policy, which did have immediate short term benefits,
(29:32):
it's a bit of a sugar high because over the
next eighty or one hundred years, the population of China
is projected to cut in half because they can't get
people to have kids, and that's a larger issue in
the world, whether it's Italy, whether it's Japan, frankly, whether
it's United States for native born population. And so I
think China is probably at the peak of their economic
(29:54):
might right now. In fact, I think China's economic might
has already passed. And I've made the argument buck it
reminds me a little bit of Japan in the eighties.
If you're old enough to remember, everybody looked at the
trajectories and they said, oh my goodness, China's I mean,
Japan's going to buy everything. Japan is going to own
everything in the United States. And meanwhile there's stock market
flat lined and it didn't grow for about forty years.
(30:15):
And so I think we have reached peak China power,
and I think we're actually on the backside now. And
certainly demographics are part of that, and I think that's
why there's a quiet panic setting in in China, and
I have some fear that they might invade Taiwan as
a result, because if you look historically, usually countries don't
(30:37):
act at their peak. They act when they have begun
their decline in ways that appear irrational. Because deep down
there's a fear of the decline. So anyway that is
out there I think floating around, I would submit to
you that I think China is on the back end
and that they are actually going to panic more so
in the years ahead going.
Speaker 2 (30:58):
Well, But countries that feel like they're actually in decline
and have problems can get very aggressive.
Speaker 1 (31:04):
Well, that's when they actually tend to get the most aggressive,
which is why you know, it's not.
Speaker 2 (31:09):
Like, oh, we can just be on this glide path
that China's economic and power deterioration. Things become destabilized inside
of a place like China as they have more problems
and less rosy prospects for the future.
Speaker 1 (31:26):
Let me talk to you a little bit about Israel,
which has moved off the front pages because there's been
so much attention on the tariff battles of late. But
Israel has gone back into Gaza. They have restarted the
war in the North with Hesboula, and certainly you've probably
seen some of the stories about the Hooties and what's
going on there and the larger geopolitical tension with Iran
(31:48):
with talks scheduled on Saturday. Lots going on there but
the key thing to remember is the people of Israel
are still fighting to preserve Western civil is a, freedom
of religion, freedom of speech. They are uniquely the good
in what is often countries ruled by awful despots in
(32:09):
the Middle East, and as a result, the union between
Christians and Jews is substantial. And that's what happens every
single day at the International Fellowship of Christians and Jews.
They provide life saving aid and security essentials to everyone,
and your urgently needed gift today will help provide security
essentials like bomb shelters, flack jackets, bulletproof vests. They'll help
(32:32):
first responders, armored security vehicles, ambulances and more. Join us,
both Buck and myself in standing with Israel. Call to
make your gift at eight eight eight for eight eight IFCJ.
That's eight eight eight four eight eight four three two five.
You can go online at SUPPORTIFCJ dot org to give
(32:53):
as well. That website support IFCJ dot org. With the
biggest political comeback in world history. On the Team forty
seven podcast, Clay and Buck highlight Trump free plays from.
Speaker 3 (33:07):
The week Sundays at noon Eastern.
Speaker 1 (33:09):
Find it on the iHeartRadio app or wherever you get
your podcasts.
Speaker 3 (33:15):
Welcome back. In the last segment.
Speaker 1 (33:17):
For Buck before he becomes a dad, I got a
couple of great advice points for him. He's gonna be
headed to the hospital here in a little bit for
induced baby.
Speaker 3 (33:27):
I can't wait.
Speaker 1 (33:28):
Congratulations to you and carry It's gonna be fantastic. And
let's get the last couple of bits of advice out
there from our audience. Scott practical advice about what to
do when a baby cries.
Speaker 5 (33:46):
Hey, Buck, my advice if your baby is crying and bussy,
she is either hungry, or she's dirty and needs to
be clean, or she's pull it needs to be perm
and make sure you purper or you will put it
on you just either those didn't take your form or
your wrist and check your forehead or fever.
Speaker 1 (34:06):
I will say, Buck, one of the cool things. And
I think you're going to find this out in the
years ahead, and I bet most of the moms and
dads and grandmas and grandpa's out there will sign off
on this too. No matter what you do, that kid
is going to have its own unique personality. And you
can get a baby that sleeps like an angel, or
you can get an absolute crazed child, and the differences
(34:31):
between baby one, Baby two, baby three can be seismic
and you can treat them all the exact same and
things will be very different.
Speaker 3 (34:39):
But it's so exciting, and it is I.
Speaker 1 (34:42):
Mean, for me, when I go back in time now
and think about, you know, seventeen years ago when my
first son was born, it is such an incredible experience
to realize that you get the gift of helping to
shape the next generation. And whether you're a dad or
a mom, or grandma or grandpa, that experience of seeing
(35:03):
a new generation born is just such an incredibly optimistic moment.
So I'm happy for you and Carrie. I think you
will be blown away, even though you've been thinking about
it a lot, that moment of crystallization, when the baby
is there and suddenly you're holding that baby for the
first time, it's hard not to be incredibly optimistic, in
my opinion, about the future of the world. When you
(35:26):
actually are holding the future of the world in your arms.
It's pretty awesome. That was very beautiful.
Speaker 2 (35:36):
I don't even know, I'm I'm a little I mean.
Speaker 1 (35:40):
It's it's I mean, it's it really is just super awesome,
and so you can prepare for it. You got nine
months to think about it, but until you got that
baby in your arms, it's hard to crystallize it. And
I think you'll know what I'm talking about later tonight,
late tonight, or maybe early tomorrow morning. So we're excited
for you. We'll give you updates. By the way, you
want to say your last minute without being a dad
(36:02):
on the radio.
Speaker 2 (36:03):
Well that I'm so excited to join the ranks of
the parents out there, and I know so many of
you listen to this show, and it's going to be
a fun journey with me telling you about my first
steps in parenthood. I'm going to be out tomorrow through
at least Monday. I might be back Monday, maybe a
little later next week. We'll kind of see how things go.
(36:25):
But all of your well wishes and prayers and high
fives and hugs are very very much appreciated. You will
be in excellent hands with mister Clay Travis for the
rest of the week here. He has assured me that
he will prevent the global economy from completely melting down.
Speaker 3 (36:40):
No pressure, no pressure, that's the goal. Thanks everybody.
Speaker 2 (36:44):
I'll give some updates and the show we'll share with you,
God willing, everything goes great, and I'll talk to you
all next week
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