April 10, 2025 • 36 mins
Hour 1 of A&G features...
- The tariff pause & buy the dip!
- Katie Green's Headlines!
- Trump's tariffs & how this could be good for US
- Mailbag!
Stupid Should Hurt: https://www.armstrongandgetty.com/
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:10):
Broadcasting live from the Abraham Lincoln Radio Studio, the George
Washington Broadcast Center. Jack Armstrong and Joe Kaddy Armstrong and
Jackie and Pee Arms get it.
Speaker 2 (00:34):
As he wrote in my favorite newsletter this morning, maybe
it was all a dreams.
Speaker 1 (00:43):
Oh it's only that's funny. Live from Studio C Season.
Speaker 2 (00:50):
You're a dimly lit room deep it from the bowels
of the Armstrong and Getty Communications Compound.
Speaker 1 (00:55):
Hey y'all today Thursday? Is that right? Yeah?
Speaker 2 (00:57):
Thursday, little Friday. We're under the tuteler of our general manager.
The pause, Yeah, the pause that refreshes. And since we
since we got up this morning, Europe has announced their
ninety day pause. So everybody's pausing except for with China,
which is what I think a lot of it has
been saying for a cottle. While the China thing I get.
Let's let's let's figure out how we're gonna decouple from China.
(01:20):
They're an s sworn enemy of this country.
Speaker 3 (01:23):
Indeed, and we're intertwined with them in a way that
is utterly unsustainable.
Speaker 1 (01:27):
So is Donald J. Behaving purely strategically.
Speaker 3 (01:30):
With the China tariffs or is it a bit of
a urinating contest between him and Hijion Ping or half
and half hard to say.
Speaker 1 (01:39):
I don't know.
Speaker 2 (01:41):
Yeah, I watched The News Nation for the first time
this morning, first time I've tuned that in, even though
our boss Bill has been telling me for a very
long time, you should check out News Nation. Way it's
way closer to what your show is than anything else.
And I would say, is right. I noticed no obvious
how do we make this story worse for Trump? Or
(02:03):
how do we make this story better for Trump? Which
you do get from Fox or MSNBC, But so I
didn't notice that on News Nation. But anyway, I have
to add them.
Speaker 1 (02:12):
To my rotation.
Speaker 2 (02:13):
Yeah, yeah, I got a lot of really good interesting
information out of it. But great, I do think it's
interesting the the Trump Hateen world. For weeks now, it
has been how he's just so stubborn and ideological, and
he's been saying the same thing from the eighties, and
he would he will not accept reality and blah blah
blah blah blah. And then when he you know, uh,
(02:35):
gets to a point of like this is just doing
too much damage. I got to pull the plug. Then
it's he said he'd do this and now he's backing off. Well,
you just were criticizing him for being unwilling to back off,
and now you're criticizing for backing off. And I just
I don't quite understand. Now you couldn't you pass Trump
no matter what happens. What's there to understand? Well, you could, obviously,
(02:58):
you could make the comment that it was somewhat predictable
that the markets would go crazy, and since that was true,
you wouldn't You didn't need to do this in the
first place.
Speaker 1 (03:06):
But that being said, I don't understand the it's one
or the other. You know you can't. It is kind
of funny.
Speaker 3 (03:14):
It's the proverbial kicking your dog when he finally comes
to you. Right, Well, Jack, speaking of the whole tariffs
and the upheaval and the paws and the rest of it,
and this is exciting. Folks are going to be canceling appointments,
keeping their kids home from school during the show. Today,
we're going to explain the bond marketing to you. I
(03:35):
might be in the bath day with us. That might
be when I take my bathroom break the bond Everything
turns on the bond market.
Speaker 1 (03:44):
That's quite possibly true, And in fact, if you won't
know it. You'll be adding in the bathroom.
Speaker 2 (03:50):
I've made it this far in my life without knowing
anything about it, so if I can make it till
dead without knowing anything about it, then I'll be all right.
It's not like you're living under a bridge. Well, obviously,
I was thinking about the last however many days it's been,
and partially and I didn't ask my financial guy. He
sent me an email. I imagine he sent everybody emails
because everybody was freaking out there for a couple of days.
(04:12):
But I didn't change a dollar of my life based
on anything in the last week.
Speaker 1 (04:17):
So no, really, no harm, no foul. I don't know.
Speaker 3 (04:22):
I was kind of kicking myself because I didn't have
any real money in my little playing around investment account
because this was the classic dip to buy.
Speaker 2 (04:32):
Yeah, but you didn't know it was going to come
back late. They could have been no, but I knew
it would come back eventually. He yeah, but he could
have held strong for nine months or who knew. Yeah,
That's why I think it's important to have, hey, just
you know, a play around. If this bet doesn't turn
out and for two years you got no money and
(04:53):
that's fine.
Speaker 1 (04:53):
So well that one of the problems with this that.
Speaker 3 (04:57):
Would have bet my my net worth on it, I
hear said, I wouldn't bet my house payment on it.
One of the problems with this whole thing is just,
you know, one guy, and this has been discussed a lot,
one guy having the ability to do this either direction.
And so, according to the Wall Street Journal, he tapped
out his post, his truth social post in the Oval
(05:18):
office at the desk with the Treasury Secretary sitting there
and the Commerce Secretary sitting there. Now, unfortunately this came
out like five minutes after we said goodbye, everybody, see
you tomorrow. I wish it would have happen while we
were on the air, because the markets reacted instantly, and
it was the biggest rise in the Nasdaq as a
percentage since the dot com bust, which is what late
(05:40):
nineties I mean that is that is amazing year two
thousand whatever it was. Yeah, we've had some you know,
pretty major ups and downs nine to eleven, the financial crash,
lots of different things and that amount of time.
Speaker 1 (05:52):
So it was a big deal. I wish it would
have happened while we were on the air. But so
he taps out his little truth social it says, that's it.
People are getting the yips.
Speaker 2 (06:00):
I'm gonna pause nine days stock market skyrocks. Obviously if
you had had that information that I'm I don't think
this is true, skinny neck?
Speaker 1 (06:13):
What's his almost used a bad word? Go ahead, do it,
Adam Schiff.
Speaker 2 (06:17):
Adam Schiff, I can't believe he's my US Senator Adam Schiff.
Show he wants in an immediate investigation for insider trading.
I don't think that's what Trump was up to, but it.
Speaker 1 (06:28):
Sure would be easy.
Speaker 2 (06:29):
It sure would have been easy to tell anybody, Hey, tomorrow, tomorrow,
tomorrow morning, about ten, I'm gonna pull the plug on
this thing.
Speaker 1 (06:38):
So I mean, Chris, call.
Speaker 3 (06:40):
Him up and say bye and hang up by the nip. Yeah,
no too much, No, don't blow the horn, just say by.
Speaker 1 (06:50):
A much more spy moves, don't be shut by.
Speaker 2 (06:56):
The shot, shoot a confetti cannon out to the top
of the White House and say I don't know what
that was.
Speaker 1 (07:02):
Oh no, sh not subtle laugh.
Speaker 2 (07:05):
But you gotta admit, with one guy making that decision
to make the stock market go up the most in
thirty years, I mean that a ton of money could
have been made if you knew at all what was
going gonna happen.
Speaker 1 (07:18):
Sorry, I am so sorry. I got to take this call. Hello.
Speaker 3 (07:22):
Uh huh really, uh huh okay, thanks by That was
Nancy Pelosi. She said she's been doing this for fifty years.
Speaker 2 (07:32):
I think they all do it all the time, but man,
not on this grand scale. I mean, this was the
all time five hundred pound gorilla of this sort of thing.
If anybody has tipped off, and I don't think they were,
but uh yeah, it's uh, it's it's something they are
our secrety. Keep to yourself, you know, a whole bunch
(07:52):
of rich guys with a lot of stock. By the way,
I ain't saying nothing, ain't something, just uh just a
little hint, uh Wednesday morning. I ain't say any else.
Speaker 1 (08:02):
No horn, no horn, shit the horns of it.
Speaker 3 (08:06):
So if you're a fan of power and influence and
who's got what sway in any White house, I think
it's it's super interesting that Scott has sent the Treasury
guy is clearly the voice that Trump is listening to
through the tumult less than a couple of other folks.
He is kind of the voice of let's not do
(08:27):
too much damage, common sense down to earth, and he's
willing to speak truth to Trump and then spin the
hell out of it on the South of Honor wherever
you're speaking yesterday. But he definitely has huge influence. And
I feel the need to point out because you will
never ever hear this pointed out in mainstream media.
Speaker 1 (08:46):
He happens to be a gay fella.
Speaker 3 (08:48):
You know, we Conservatives and Republicans with our hatred and
abuse of anybody who's gay. No, no, we just liked
the most competent person for the job in the job.
Speaker 1 (08:59):
Perry, the Secretary of the Treasury, lays down with other men.
Speaker 3 (09:03):
Oh, there's no need to put too fine a point
on it. We all know what that expression means.
Speaker 1 (09:08):
Good lord, all right, No, I didn't know that. And
who cares? Who cares? Uh? Yeah?
Speaker 2 (09:16):
Mark Halpern and his newsletter today, say said one the
powerbroker in that whole thing was Scott Bessen. Yeah, the
Treasury secretary. So let's start the show officially. I'm Jack Armstrong.
He's Joe Getty on this. It is Thursday, April tenth.
Hear twenty twenty five for Armstrong. You getting and we
approve of this program.
Speaker 3 (09:36):
Uh yeah, boy, the Master's kicks off today. Here we go,
let's begin the show officially according to the FCC rules
and REGs at Mark.
Speaker 4 (09:42):
Well, I thought that people were jumping a little bit
out of line. They were getting yippie, you know, they
were getting a little bit yippy, a little bit afraid,
unlike these champions, because we have a big job to do.
Speaker 1 (09:55):
No other president would have done to what I did.
Speaker 4 (09:57):
No other president I know the president, they wouldn't have
done it, and it had to be done.
Speaker 1 (10:02):
Except perhaps the late great Abrahamlets.
Speaker 2 (10:06):
As usual, it was hilarious that his people came out
and said this was the plan all along. Then Trump
comes out and says, now, I'm watching TV last night
and I think the bond market was going crazy.
Speaker 1 (10:14):
So I pulled the plug. Were getting yip? Why did you?
Speaker 2 (10:20):
Why did you make me go out and say it
was the plan all along? Or they thought that's what
they should do. One of the great risks is speaking
for Trump. From the first moment of term number one
till today, I thought the plan was oh never mind.
Speaker 1 (10:37):
Maybe it was all a dream.
Speaker 2 (10:40):
We were talking of yesterday about how it could he
could pull the plug at any moment, and then we'll
look back, you know, on it in six months and thinks, oh, yeah,
I remember that happened.
Speaker 1 (10:46):
It might end that whole tariff thing might be like that. Yeah.
Speaker 3 (10:51):
Although the China, again, as we've been saying from the
very beginfference story, China is an entirely different subject.
Speaker 2 (11:00):
I would say an on News Nation this morning that
I was watching, they did a feature on this new
nuclear weapon we've got. That's more about our ability to
deliver it, but it's mostly about keeping up with China specifically,
and also Russia in their aggressive increasing the strength of
their nuclear arsenal.
Speaker 1 (11:17):
So they're calling it a new nuclear arms race.
Speaker 2 (11:21):
Oh boy, now that's some serious stuff. We got Katie's
headlines on the way and more news of the day.
I hope you can stick around. Text line is four
one five two nine five Kftcarrong a new image out
of what our closest monkey an sister looked like, and
it's very human.
Speaker 1 (11:42):
I'll talk about that letter to love evolution stuff.
Speaker 2 (11:45):
Also speaking of images, based on our One More Thing
podcast yesterday, Katie sent me you must have How did
you get him to me so fast?
Speaker 1 (11:53):
Like within an hour? Amazon.
Speaker 2 (11:54):
I got in the mail some chicken leg socks and
I took pictures of him on my life les and
posted it at Twitter. This is an attempt to drive
up our Twitter numbers or drive them down. Maybe more
people left. Yeah, then we are serious. Yes, and somebody
said you have rickets, dude, get some vitamins.
Speaker 1 (12:11):
Wow. Yeah, mix in an orange or two. Huh. Anyway,
more on that later. Let's figure out who's reporting what.
It's the lead story with Katie Green Katie Well.
Speaker 5 (12:20):
Starting with CNN, Inflation drops to two point four percent,
lower than expectations.
Speaker 1 (12:26):
Of two point five percent. There you go, good inflation news.
The day after the stark market has a giant rise. Huh,
we're back. Everything's coming up, Trump, I'm back.
Speaker 5 (12:37):
Maybe from Fox News, Doge reveals bizarre findings of unemployment
insurance claims.
Speaker 1 (12:46):
Quote this is crazy. I'm sure. Oh, I have no doubt.
Speaker 3 (12:51):
Any system that involves government payouts is got billions and
billions and billions of dollars. With the old WAA Waste
Fraud and Abuse Guarantee.
Speaker 5 (13:02):
Nine point seven thousand people with birth rates are birth
dates over fifteen years.
Speaker 1 (13:09):
In the future. That's sixty nine million dollars. Wow.
Speaker 5 (13:14):
From the AP freed Israeli hostages, thank Trump for efforts
to get the Hamas hostages released.
Speaker 2 (13:23):
Oh I got it, well, Russia, I got a little tidbit.
Maybe after your headlines we have time on eight three
dimensional chess theory around Doge stay tune.
Speaker 5 (13:35):
From the Daily Mail update after brave female fencer took
me and refused to fight against transgender rival, she has
left her team completely.
Speaker 3 (13:48):
I want to know that woman's name. I want to
know it like I know Riley Gaines. I think she
should be hailed as the hero that she is.
Speaker 5 (13:56):
From CNBC The Rise of AI generated prof By twenty
twenty eight, globally, one in four job candidates will be fake.
Speaker 1 (14:07):
What's the benefit of that.
Speaker 5 (14:08):
They're just saying that these job seekers are using AI
tools to make fake identities, fake IDs, make resumes and
lying about.
Speaker 2 (14:15):
Their You can't actually come in work, though, So what's
what are you foltimate goal?
Speaker 5 (14:20):
They're doing this for remote hiring jobs.
Speaker 3 (14:22):
Oh yeah, a lot of engineering tech jobs are remote hiring,
and these guys have figured out I can hold three
jobs and do the minimum work for each of them
and get a triple salary.
Speaker 1 (14:33):
I wish I was smart enough to do it. I'd
do it today. Rarely hold one job from the La Times.
Speaker 5 (14:40):
Wife of Weezer bassist is shot by LAPD during a
hit and run manhunt and accused of attempted murder.
Speaker 1 (14:48):
I watched this yesterday's nut.
Speaker 3 (14:51):
What a crazy story. Oh yeah, I need to know more.
I'm flabbergasted. There's a lots around them.
Speaker 5 (14:58):
The LAPD was in per suit of a totally unrelated
incident for a hit and run, and they drove by
the house and the wife of the Weezer bassist was
out there waving a handgun at the cops, and so
they had to handle her and they ended up shooting
her on the shoulder. And now she's being charged with
the tempted murder.
Speaker 1 (15:17):
Wow.
Speaker 2 (15:18):
She she would not put down the gun, then pointed
at the cops. They shot her, and then amazingly she's alive.
Speaker 1 (15:24):
And that's a.
Speaker 2 (15:27):
Little what are they What are you trying to do
when when someone's pointing a gun at you, I would
think your goal is to take them out, take them out.
And there was a bunch of cops there. She's like,
I'm wounded, but I'm fine.
Speaker 3 (15:38):
Yeah, often, yeah, the result is quit an impressive number
of bullet woes. Yeah, I expect more from the wife
of the bassist of Weezer.
Speaker 5 (15:48):
From the New York Post, Australian surgeon fined ten thousand
dollars for sharing a picture of a coma patients swastika
tattooed Pennis.
Speaker 2 (16:00):
Oh wow, I can see how it'd be hard to
not share that with the buddies.
Speaker 3 (16:04):
Speaking of stories with a lot going on, look at this,
how would.
Speaker 1 (16:07):
You not share that? Nazi Germany? From The Free Beacon.
Speaker 5 (16:13):
Members of Congress agree Jerry Nadler is the capital's worst
smelling man.
Speaker 1 (16:19):
What, Yes, I have that story? Really a story? Yes,
an aggressive scent, it's a real story. Yes. Yeah.
Speaker 3 (16:28):
He is the big old weavil of a fat progressive
who's known first fill in his drawers, Jack, disgusting me this.
Speaker 5 (16:36):
And finally, the Babylon Bee analysts clarify that Trump is
only responsible for the stock market.
Speaker 1 (16:44):
When it goes down.
Speaker 5 (16:45):
Yeah, exactly, And Joe just de side note that that
defencer's name is Stephanie Turner.
Speaker 3 (16:52):
Stephanie Turner, God bless you dear for your courage.
Speaker 2 (16:56):
Yeah, the you remember Lucy, one of the oldest skeletons
of like a human that have ever. They've got a
new computer mock up of what it looked.
Speaker 1 (17:09):
Like, and it is. It's pretty interesting to see you.
I'll talk about that later. Love that story. Did did
Lucy go with Nathan? Pronouns?
Speaker 2 (17:17):
Well, since I don't know, I'm not going to assign
a gender, don't misgender.
Speaker 1 (17:21):
The monkey guard strong, and.
Speaker 6 (17:24):
The President announces he's putting a ninety day pause on
most of his terrafs after Wall Street lost nearly six
trillion dollars in one week. There is one exception. He
is upping the ante on China. Is there any strategy here?
Is this any way to run a global economy?
Speaker 1 (17:40):
Well?
Speaker 4 (17:41):
I thought that people were jumping a little bit out
of line. They were getting yippie, you know, they were
getting a little bit yippy, a little bit afraid, unlike
these champions, because we have a big job to do.
No other president would have done what I did. No
other president I know the presidents, they wouldn't.
Speaker 1 (17:58):
Have done it. And it had to be done. Did
it have to be done? I don't know. You could
have slept through this whole thing. I'm not sure it would.
Speaker 2 (18:05):
Have changed your life any at this point if you
had ignored it. Rich Lowry of National Review tweeted out yesterday,
you know, the easier way to enter into trade negotiations
with our major allies and tariff China would have been
to enter into trade negotiations with our major allies in
tariff China. Maybe he feels he got some leverage out
(18:28):
of this or not.
Speaker 1 (18:29):
I don't know. Others will decide that.
Speaker 3 (18:31):
Well, And the probably unanswerable question continues, although I suppose
the books will come out to the extent that you
trust them someday. But the question continues to be does
Trump have a strategy? Is this a coherent set of
maneuvers or is he just going moment to moment trust
in his guts and then reverses.
Speaker 1 (18:51):
Field willingly that one.
Speaker 2 (18:54):
Oh okay, I think, But I mean it's worked for
him his whole life, So I can understand why. You know,
if you're a successful financial person and her headed number
one TV show, you're a billionaire and you elected president
twice nearly three times, Yeah, I can see how you
trust your gun.
Speaker 1 (19:13):
Yeah I would too.
Speaker 3 (19:14):
It's not completely you know, out of left field. On
the other hand, pride goeth before the fall and almost
has so anyway, So is it all's well that ends well?
Is it no harm?
Speaker 1 (19:26):
No foul? Is it? Where are we? Has there been
no harm?
Speaker 3 (19:29):
That's the question a lot of people are asking in
terms of our allies, the world's perception of the United
States as the safest, best place to put their money always,
has that been hurt?
Speaker 2 (19:41):
Tom Friedman says yes in The New York Times. Course
he does. But he says that our allies in Europe
will never trust us again, and they'll see China as
a more steady, predictable partner.
Speaker 3 (19:54):
Okay, I you know, so many years ago I read
so many things from Tom Friedman of the that I
thought were fantastic. Honestly, I don't want his opinion on
anything other than what's the best Chinese food?
Speaker 1 (20:05):
Close to Times Square? At this point, I.
Speaker 2 (20:10):
Think, I mean, in terms of the world splitting between
US and China, which is what's happening. I still think
people are going to go with the United States because
China is They're all They want to take you over.
Speaker 1 (20:22):
They don't want to be your business partner.
Speaker 3 (20:24):
Yes, they have a way of making you truly regret
your partnerships through the years.
Speaker 1 (20:30):
So a glimpse behind the scenes.
Speaker 3 (20:31):
I was dealing with a bit of a domestic crisis
during the commercial break, and so we didn't really get.
Speaker 1 (20:35):
A chance to chat.
Speaker 3 (20:37):
Playing the Charlie Gasparino stuff seems apropos right now, How
do you feel about that?
Speaker 1 (20:42):
Yeah?
Speaker 3 (20:42):
He was on Fox News just after the pause was announced.
Speaker 1 (20:45):
Moments later.
Speaker 3 (20:47):
Yeah, the aforementioned Scott Bessen to and others came out
and said this was the plan all along. This president
negotiates like no other. And then Trump came out and
he said, yeah, I saw people freaking out, so we
changed our minds. Of course, people are like, thanks for that,
but it happens. I found this instructive. Perhaps you will too.
(21:08):
Let's start with clip sixty Michael and just go from there.
Charlie Gasprino yesterday.
Speaker 7 (21:12):
I want to tell you right now that Donald Trump
out smarted the world. Trust me, I'm an American. I
support my president. But that's not really what happened here
from what I understand, and I know I'll get pushed back,
but here's what it is. First off, we should point
out that one of the good things about this is
that Scott Bessen is finally in the White House. He's
finally leading this. I mean, up until a couple of
(21:34):
days ago, it was Lutnick, it was Peter Navarro, the Commerce.
Speaker 1 (21:38):
Secretary, the trade advisor, very much hawks.
Speaker 7 (21:40):
Now it's Scott Besson, who believes in cutting deals as
opposed to you know, not, you know, just putting these
tariffs out there. And let's be amercantilistic economy.
Speaker 1 (21:50):
All right, to see this set to the substance.
Speaker 7 (21:53):
But number two, let's recall what happened overnight. And from
what I understand, and I'm getting this from people that
are talking to the house, what happened in the bond
market overnight, the spike in yields on the thirty year
and the ten year bond, which showed that people were
dumping our bonds. And who are those people dumping our bonds? Japan,
(22:13):
the biggest holder of bonds, was selling bonds. That's what
I'm getting from some very big money managers. China maybe
to some extent, but it was largely Japan and others.
If you have a mass sale of bonds, that means
people are losing confidence in the US economy on the
ability to do deals with US. And from what I understand,
(22:35):
this is what forced the hand of this ninety day reprieve.
Speaker 2 (22:40):
And apparently apparently Trump didn't think that was going to happen,
or not as much as it was happening.
Speaker 1 (22:45):
Yeah.
Speaker 3 (22:46):
In other words, since we spend way more than we
take in, and it's good to have cash flow, even
if you're being smarter than we've been as a country.
It's nice to be able to say, hey, would you
like some of our bonds to invest your money?
Speaker 1 (23:01):
We'll pay you three and a half percent.
Speaker 3 (23:03):
And at some point, like overnight, they start saying, we
don't want your stinking bonds at three and a half percent,
Well would you take him at.
Speaker 1 (23:10):
Four and a half, How about five and a half.
Speaker 3 (23:12):
And all of a sudden, our borrowing costs are skyrocketing.
And I don't know if you're familiar with this, we
run hillacious debts in this country. We overspend like coke
binged and binging sailors. Anyway, So that's part of the panic.
A little more from mister Gasparino, you know, are.
Speaker 7 (23:29):
People coming to the table. Yeah, but if you know,
if you read me between the lines or not, even
what Scott Bessen said, we have no deals, right, there's
nobody that is really there saying this is what we're
going to do, and they paused it anyway, So my
thing that said, well, i'll give you this, there is
some art of the deal here, and by the way,
brilliant move by putting China in the corner.
Speaker 1 (23:52):
But that's a whole separate.
Speaker 7 (23:53):
Thing because remember that's a very difficult negotiation.
Speaker 1 (23:56):
Everybody else is a lot easier.
Speaker 7 (23:58):
They really wanted to, they do want to deal with us,
whether they want to be forced into really bad trade
deals on their end as a whole other negotiating story.
Speaker 2 (24:07):
Yeah, we haven't mentioned that. Along with the pause of
everyone else. He upped the tear off some China to
what now one hundred and twenty percent, So what it is?
Speaker 1 (24:15):
It might be more. In the last ten minutes.
Speaker 3 (24:17):
Everybody's ratcheting it up, and so everybody Trump and Chesion pick.
Speaker 1 (24:21):
Both of those things happen.
Speaker 3 (24:23):
But Jack, how would you describe the bond market now
it underpins the economy?
Speaker 1 (24:28):
I wouldn't. Would you say it's the plumbing of the economy,
That's what I would say.
Speaker 7 (24:33):
But make no mistake about it, you cannot divorce this
decision right here from what happened last night, which was
you know I and people focus on the stock market
all the time. It's the bond market and the sort
of lending markets that's the plumbing of the economy. And
those markets were imploding last night. And that's why we
have a ninety day freeze. Let's see if those markets improve.
(24:57):
I've someone told me we had a decent treasury wash
oction today. But if you can't sell your treasures, guys,
and people are unloading your treasures, like Japan, which is
I believe the largest foreign holder after China.
Speaker 1 (25:09):
Just to be clear, there was an option that.
Speaker 2 (25:11):
Just so, the bond market is the plumbing of the economy,
and it was imploding. And I can tell you, if
you're plumbing implodes, you're going to have to call into
work and say I'm not going to be.
Speaker 3 (25:20):
There today, call service master. Yeah it's terrible. It's oh,
it's so gross. So Charlie Gasparino there, I have no
reason to doubt his explanation. I have come across no
serious contradiction to his exploits.
Speaker 2 (25:35):
I think it's fascinating that there was some metric that
was enough to make Trump say, now this isn't working
or going to work.
Speaker 1 (25:46):
Yeah, And I don't know if he.
Speaker 2 (25:50):
So, He famously, as everybody has been talking about for
a week now, has been saying this since you know,
the eighties on Oprah Winfrey Show, that we're getting ripped
off and kneed teriff, Yeah, and you got so. Does
he still believe that? Does he believe that his that's
still true, but his cure for it doesn't work for.
Speaker 1 (26:12):
Whatever reason, I want, I wonder where he is on
all that.
Speaker 3 (26:15):
Yeah, I mean, and this is the sort of thing
that might freak out new listeners who think every radio
show ought to be one hundred percent pro Trump or
one hundred percent anti Trump. We calls him as we
see them. But I think a Trump is very adaptable.
He is more than willing to say that didn't work,
We're going to try this. He does not cling to
(26:36):
ideas that do not serve him. You know, he's a
little parapatetic and mercurial for my taste. And I think
some of the stuff he's pulling may damage our standing
in the world over the long term. Having said that
critical stuff, I think trade wise, this could end up
in a very very good place with reasonable trade barriers,
(26:57):
if any, with our friends and allies and non enemies
in a way that was way way overdoing happening. On
the other hand, he never counts when he talks about
trade surpluses and deficits.
Speaker 1 (27:08):
And he never counts services.
Speaker 3 (27:10):
And I understand the allure of manufacturing and making our
own stuff and being self reliant on critical industries, but
I mean we export. We have an enormous trade imbalance
in our favor, a surplus for services, banking, entertainments, financial advice,
to the thousand different things. So to the three dimensional
(27:33):
chess teck, I'm sorry the obvious tech. Yes, three dimensional chests.
Speaker 2 (27:37):
So I remember asking Bill O'Reilly this question back when
Bill O'Reilly was the number one show cable show in
America ten years ago, twenty fifteen, when Trump was running
is this three dimensional chess? Or is he just winging it?
And I remember Bill O'Reilly saying it's not three dimensional chess.
(28:00):
I think that is generally the case with Trump. But
I do wonder about this one. Maybe around Doge more
than the tariffs, because he's been talking about the tariffs thing,
you know, for for forty years, as we mentioned, But
maybe around the Doge thing getting so much attention. What
was everybody saying leading up to the election, including us.
(28:21):
The number one political story of twenty twenty five is
going to be the Trump tax cuts. That's going to
be all everybody's talking about. And nobody's talking about it,
and they're working on it behind the scenes. And there's
a bill last night that didn't happen, but they're working
on it constantly behind the scenes, and.
Speaker 1 (28:38):
Nobody's talking about it.
Speaker 2 (28:39):
And I mean, Trump is you know, a TV producer,
guy who understands the media and how they flock towards stories.
And I just wonder if some of this stuff might
be I'm going to get the biggest that tax cut redone,
and that is going to set the economy in place
the way I want it the rest of my term.
And that is the whole enchilada, and nobody's talking about it.
Speaker 3 (29:01):
I do enjoy a good enchilada. Perhaps that is the case.
We'll we'll all find out together from our friends that
simply save home security. It's a chaotic, scary world, and
we're not talking about trade negotiations. Too many junkies, too
many scumbags on the streets, too many policies.
Speaker 1 (29:16):
That have made crime too easy.
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But with simply save millions of Americans enjoy greater security
and peace of mind every time they arm their system.
Speaker 2 (29:24):
I love the outdoor out hm, I love the active
m mmm.
Speaker 3 (29:32):
I'll get to get the spoon from mister Armstrong's tongue
right out.
Speaker 2 (29:35):
They got this thing with cameras in your yard and
around the house, and there you can catch skip it.
Speaker 1 (29:39):
Yeah, I'll skip it.
Speaker 2 (29:40):
They can catch bad people before they break into your home,
which is really really cool. They use AI and also
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It's about a dollar a day.
Speaker 2 (29:48):
With no long term contract, which is a main Wait
a minute, something that advanced and unpronounceable.
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Is just a dollar a day. That's way less than
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Speaker 2 (30:14):
And then one more thing before we take a break,
because you got mail bag coming up, is this wasn't
on purpose, but ended up being. You know, everybody's talking
about the end of the all those other tariffs without
much focus on the fact that he just exploded Chinese
tariffs on China to one hundred and twenty percent from
what were they before forty five. And I mean, if
(30:37):
he had only done that, that would have been such
a giant headline. It never been to be talking about it,
and a lot of people would be saying it was
a horrible mistake.
Speaker 1 (30:43):
And now it's just kind of like not even a story. Yeah,
you're right.
Speaker 2 (30:47):
I don't think that was on purpose, but that is
the ultimate end result. I think, what was that movie?
Everything all at once, all the time. That's the news
flow right now. Yeah, what do you focus on?
Speaker 3 (30:57):
If you're a Democrat, they're miserable, their heads are in
their hand.
Speaker 1 (31:00):
I don't know what to yell about. Uh mailbag on
the white bunch of other stuff. Stay here.
Speaker 2 (31:08):
I had to get up backtra early to take my
dire Wolf pumps for a walk around the block.
Speaker 1 (31:14):
Before I went to work.
Speaker 3 (31:16):
Yeah, if they get to Nancy, they'll really tear up
the furniture being I eat your fish saw tall at
the soldier at the shoulder. Yeah, exactly, enormous. Here's your
freedom loving quote of the day. Love this one from
PJ O'Rourke. Jeff sent it along. It's terrific. It's just
quoting it the other day. An entitlement is what people
on welfare get, and how free are they. It's not
(31:36):
an endlessly expanding list of rights. The right to education,
the right to healthcare, the right to food and housing.
Speaker 1 (31:43):
That's not freedom, that's dependency. Those aren't rights.
Speaker 3 (31:45):
Those are the rations of slavery, hay into barn for
human cattle. There's only one basic human right, the right
to do as you damn well please, and with it
comes the only basic human duty, the duty to take
the consequences.
Speaker 1 (31:59):
I couldn't love that more. That's pretty good.
Speaker 3 (32:01):
If I had a manifesto, that would be in the
lead mailbag prob us a note mail bag at Armstrong
and getty dot com weirdly dental related mailbag today this
later today, two pm Eastern, I'll be listening to the
A and G podcast, as I have for many years,
but this time I'll be listening to it while undergoing
(32:22):
oral surgery. I mean a couple holes drilled to replace
an implant, et cetera. Why am I reading you this
because of the sign off, Michael, can you lower the music?
There's a hole in my mouth where my teeth once. Well,
somebody's my again, Monney anyway, owen too that it's Kevin.
That's really funny. And then this Mike from Surf City.
(32:47):
But the tennis today with my fifteen year old son.
He's been going to this place most of his life,
and we've always known there's this wackado roaming the halls.
Usually he's just loud and opinion that he'd opinionated, but
day he went full feral. Now he already had his
hands in my kid's mouth, so I've always let his
loud anti trump rant slide. But today he launched into
a tirade about the China tariffs and now everything comes
from China. I held my tongue for about half an hour,
(33:09):
but the mixt of dennist off his tension and one
lie after another finally pushed me to respond with a
little common sense. Anyway, so this guy gets all agitated
and starts yelling he's got no facts. He's just like
a homeless methadic coming at me on the street, just
pure intensity and zero logic and I'm gonna skip ahead
a little bit, but somewhere in the middle of his madness,
(33:30):
I somehow had him supporting slavery and child labor, all
while complaining that the minimum wage is too high in California.
Poor guy's never had so many truths at once. My
son looked at me afterwards and said, Dad, he was
gaslighting you. He didn't have a single good point. All
he could do is yell. Fifteen years old and already
smarter than half the country or more, says Mike from Serfs.
Speaker 4 (33:49):
Yeah.
Speaker 2 (33:50):
I for when I'm in those situations, I try to
get to a yeah. I don't talk about politics very quickly,
just yeah, I'm not listening to.
Speaker 1 (33:59):
Even if I with you, I don't want to talk
about this.
Speaker 3 (34:02):
Why you're working on my kid's teeth, that's great if
it persists. I am on the phone that day with
the dentist saying, you get rid of this person, or
we will go. We are gone, and we'll tell everybody
why we're gone. That has to end. Like day before yesterday,
Reagan put it. Let's see Burbank Luke with an excellent
point here. Larry Summers said, of the tariffs, this is
(34:23):
the first US bout of US financial stability caused by
the US government. What a statement, I guess the housing
bubble and subsequent recession of twenty oh eight slipped his mind. Excellent,
that was caused by granting mortgage just to anyone who
could fog a mayor. Thanks Bill Clinton and Barney Frank
excellent point while he was Bill Clinton's Treasury secretary. How
about our government racking up thirty six trillion dollars worth
(34:45):
of debt or allowing China wage total war on US
for the last thirty years with the favored nation status
we granted them. I wasn't going to count the disastrous
COVID policy lockdowns was disrupted every aspect of our lives,
causing massive inflation and job losses because state governments share
the blame. Then I remembered what government paid for the
gain of function research. What an f and clown Thomas
(35:07):
Soul was onto something with that quip about Harvard men
per Bank Luke bringing it.
Speaker 2 (35:13):
I'm I'm an ostrich head in the sand on a
lot of your macroeconomy stuff. I just I'm so cynical
and like practically conspiracy theory guide that I just feel
like there are very powerful people the top that run
all this and do whatever hell they want and get
really really witch And I mean the Scarborough was mentioning
the other day on MSNBC, and I was happy that
(35:34):
he brought this up. Was the Giant two thousand whatever
it was housing crash. Nobody went to jail, nobody, nobody
destroyed the economy.
Speaker 1 (35:46):
So many of us I lost hundreds of thousands of dollars.
Speaker 2 (35:49):
I mean, so many people lost so much money because
they are giving loans to people.
Speaker 1 (35:54):
That should have never gotten loved. Nobody name of equity.
Speaker 3 (36:00):
Nobody got except well and Progressive America never stood up
and said, yeah, that policy was disastrous.
Speaker 1 (36:07):
It was miserable. We have inflicted this dam engine we apologize. Nobody.
Speaker 2 (36:10):
Ah so excited, I can't get started on and it
makes me too angry. So that's why coming to the
reasons I've given up on that whole thing.
Speaker 3 (36:17):
Coming up next hour, Jack, Yes you can outrun a horse,
I will explain.
Speaker 1 (36:23):
Wow, that's the question of the day. How the hell
did that come up?
Speaker 2 (36:27):
If you missed the second, get the podcast Armstrong and
Getty on demand.
Speaker 1 (36:31):
Armstrong and Getty
Broadcasting live from the Abraham Lincoln Radio Studio, the George
Washington Broadcast Center. Jack Armstrong and Joe Kaddy Armstrong and
Jackie and Pee Arms get it.
Speaker 2 (00:34):
As he wrote in my favorite newsletter this morning, maybe
it was all a dreams.
Speaker 1 (00:43):
Oh it's only that's funny. Live from Studio C Season.
Speaker 2 (00:50):
You're a dimly lit room deep it from the bowels
of the Armstrong and Getty Communications Compound.
Speaker 1 (00:55):
Hey y'all today Thursday? Is that right? Yeah?
Speaker 2 (00:57):
Thursday, little Friday. We're under the tuteler of our general manager.
The pause, Yeah, the pause that refreshes. And since we
since we got up this morning, Europe has announced their
ninety day pause. So everybody's pausing except for with China,
which is what I think a lot of it has
been saying for a cottle. While the China thing I get.
Let's let's let's figure out how we're gonna decouple from China.
(01:20):
They're an s sworn enemy of this country.
Speaker 3 (01:23):
Indeed, and we're intertwined with them in a way that
is utterly unsustainable.
Speaker 1 (01:27):
So is Donald J. Behaving purely strategically.
Speaker 3 (01:30):
With the China tariffs or is it a bit of
a urinating contest between him and Hijion Ping or half
and half hard to say.
Speaker 1 (01:39):
I don't know.
Speaker 2 (01:41):
Yeah, I watched The News Nation for the first time
this morning, first time I've tuned that in, even though
our boss Bill has been telling me for a very
long time, you should check out News Nation. Way it's
way closer to what your show is than anything else.
And I would say, is right. I noticed no obvious
how do we make this story worse for Trump? Or
(02:03):
how do we make this story better for Trump? Which
you do get from Fox or MSNBC, But so I
didn't notice that on News Nation. But anyway, I have
to add them.
Speaker 1 (02:12):
To my rotation.
Speaker 2 (02:13):
Yeah, yeah, I got a lot of really good interesting
information out of it. But great, I do think it's
interesting the the Trump Hateen world. For weeks now, it
has been how he's just so stubborn and ideological, and
he's been saying the same thing from the eighties, and
he would he will not accept reality and blah blah
blah blah blah. And then when he you know, uh,
(02:35):
gets to a point of like this is just doing
too much damage. I got to pull the plug. Then
it's he said he'd do this and now he's backing off. Well,
you just were criticizing him for being unwilling to back off,
and now you're criticizing for backing off. And I just
I don't quite understand. Now you couldn't you pass Trump
no matter what happens. What's there to understand? Well, you could, obviously,
(02:58):
you could make the comment that it was somewhat predictable
that the markets would go crazy, and since that was true,
you wouldn't You didn't need to do this in the
first place.
Speaker 1 (03:06):
But that being said, I don't understand the it's one
or the other. You know you can't. It is kind
of funny.
Speaker 3 (03:14):
It's the proverbial kicking your dog when he finally comes
to you. Right, Well, Jack, speaking of the whole tariffs
and the upheaval and the paws and the rest of it,
and this is exciting. Folks are going to be canceling appointments,
keeping their kids home from school during the show. Today,
we're going to explain the bond marketing to you. I
(03:35):
might be in the bath day with us. That might
be when I take my bathroom break the bond Everything
turns on the bond market.
Speaker 1 (03:44):
That's quite possibly true, And in fact, if you won't
know it. You'll be adding in the bathroom.
Speaker 2 (03:50):
I've made it this far in my life without knowing
anything about it, so if I can make it till
dead without knowing anything about it, then I'll be all right.
It's not like you're living under a bridge. Well, obviously,
I was thinking about the last however many days it's been,
and partially and I didn't ask my financial guy. He
sent me an email. I imagine he sent everybody emails
because everybody was freaking out there for a couple of days.
(04:12):
But I didn't change a dollar of my life based
on anything in the last week.
Speaker 1 (04:17):
So no, really, no harm, no foul. I don't know.
Speaker 3 (04:22):
I was kind of kicking myself because I didn't have
any real money in my little playing around investment account
because this was the classic dip to buy.
Speaker 2 (04:32):
Yeah, but you didn't know it was going to come
back late. They could have been no, but I knew
it would come back eventually. He yeah, but he could
have held strong for nine months or who knew. Yeah,
That's why I think it's important to have, hey, just
you know, a play around. If this bet doesn't turn
out and for two years you got no money and
(04:53):
that's fine.
Speaker 1 (04:53):
So well that one of the problems with this that.
Speaker 3 (04:57):
Would have bet my my net worth on it, I
hear said, I wouldn't bet my house payment on it.
One of the problems with this whole thing is just,
you know, one guy, and this has been discussed a lot,
one guy having the ability to do this either direction.
And so, according to the Wall Street Journal, he tapped
out his post, his truth social post in the Oval
(05:18):
office at the desk with the Treasury Secretary sitting there
and the Commerce Secretary sitting there. Now, unfortunately this came
out like five minutes after we said goodbye, everybody, see
you tomorrow. I wish it would have happen while we
were on the air, because the markets reacted instantly, and
it was the biggest rise in the Nasdaq as a
percentage since the dot com bust, which is what late
(05:40):
nineties I mean that is that is amazing year two
thousand whatever it was. Yeah, we've had some you know,
pretty major ups and downs nine to eleven, the financial crash,
lots of different things and that amount of time.
Speaker 1 (05:52):
So it was a big deal. I wish it would
have happened while we were on the air. But so
he taps out his little truth social it says, that's it.
People are getting the yips.
Speaker 2 (06:00):
I'm gonna pause nine days stock market skyrocks. Obviously if
you had had that information that I'm I don't think
this is true, skinny neck?
Speaker 1 (06:13):
What's his almost used a bad word? Go ahead, do it,
Adam Schiff.
Speaker 2 (06:17):
Adam Schiff, I can't believe he's my US Senator Adam Schiff.
Show he wants in an immediate investigation for insider trading.
I don't think that's what Trump was up to, but it.
Speaker 1 (06:28):
Sure would be easy.
Speaker 2 (06:29):
It sure would have been easy to tell anybody, Hey, tomorrow, tomorrow,
tomorrow morning, about ten, I'm gonna pull the plug on
this thing.
Speaker 1 (06:38):
So I mean, Chris, call.
Speaker 3 (06:40):
Him up and say bye and hang up by the nip. Yeah,
no too much, No, don't blow the horn, just say by.
Speaker 1 (06:50):
A much more spy moves, don't be shut by.
Speaker 2 (06:56):
The shot, shoot a confetti cannon out to the top
of the White House and say I don't know what
that was.
Speaker 1 (07:02):
Oh no, sh not subtle laugh.
Speaker 2 (07:05):
But you gotta admit, with one guy making that decision
to make the stock market go up the most in
thirty years, I mean that a ton of money could
have been made if you knew at all what was
going gonna happen.
Speaker 1 (07:18):
Sorry, I am so sorry. I got to take this call. Hello.
Speaker 3 (07:22):
Uh huh really, uh huh okay, thanks by That was
Nancy Pelosi. She said she's been doing this for fifty years.
Speaker 2 (07:32):
I think they all do it all the time, but man,
not on this grand scale. I mean, this was the
all time five hundred pound gorilla of this sort of thing.
If anybody has tipped off, and I don't think they were,
but uh yeah, it's uh, it's it's something they are
our secrety. Keep to yourself, you know, a whole bunch
(07:52):
of rich guys with a lot of stock. By the way,
I ain't saying nothing, ain't something, just uh just a
little hint, uh Wednesday morning. I ain't say any else.
Speaker 1 (08:02):
No horn, no horn, shit the horns of it.
Speaker 3 (08:06):
So if you're a fan of power and influence and
who's got what sway in any White house, I think
it's it's super interesting that Scott has sent the Treasury
guy is clearly the voice that Trump is listening to
through the tumult less than a couple of other folks.
He is kind of the voice of let's not do
(08:27):
too much damage, common sense down to earth, and he's
willing to speak truth to Trump and then spin the
hell out of it on the South of Honor wherever
you're speaking yesterday. But he definitely has huge influence. And
I feel the need to point out because you will
never ever hear this pointed out in mainstream media.
Speaker 1 (08:46):
He happens to be a gay fella.
Speaker 3 (08:48):
You know, we Conservatives and Republicans with our hatred and
abuse of anybody who's gay. No, no, we just liked
the most competent person for the job in the job.
Speaker 1 (08:59):
Perry, the Secretary of the Treasury, lays down with other men.
Speaker 3 (09:03):
Oh, there's no need to put too fine a point
on it. We all know what that expression means.
Speaker 1 (09:08):
Good lord, all right, No, I didn't know that. And
who cares? Who cares? Uh? Yeah?
Speaker 2 (09:16):
Mark Halpern and his newsletter today, say said one the
powerbroker in that whole thing was Scott Bessen. Yeah, the
Treasury secretary. So let's start the show officially. I'm Jack Armstrong.
He's Joe Getty on this. It is Thursday, April tenth.
Hear twenty twenty five for Armstrong. You getting and we
approve of this program.
Speaker 3 (09:36):
Uh yeah, boy, the Master's kicks off today. Here we go,
let's begin the show officially according to the FCC rules
and REGs at Mark.
Speaker 4 (09:42):
Well, I thought that people were jumping a little bit
out of line. They were getting yippie, you know, they
were getting a little bit yippy, a little bit afraid,
unlike these champions, because we have a big job to do.
Speaker 1 (09:55):
No other president would have done to what I did.
Speaker 4 (09:57):
No other president I know the president, they wouldn't have
done it, and it had to be done.
Speaker 1 (10:02):
Except perhaps the late great Abrahamlets.
Speaker 2 (10:06):
As usual, it was hilarious that his people came out
and said this was the plan all along. Then Trump
comes out and says, now, I'm watching TV last night
and I think the bond market was going crazy.
Speaker 1 (10:14):
So I pulled the plug. Were getting yip? Why did you?
Speaker 2 (10:20):
Why did you make me go out and say it
was the plan all along? Or they thought that's what
they should do. One of the great risks is speaking
for Trump. From the first moment of term number one
till today, I thought the plan was oh never mind.
Speaker 1 (10:37):
Maybe it was all a dream.
Speaker 2 (10:40):
We were talking of yesterday about how it could he
could pull the plug at any moment, and then we'll
look back, you know, on it in six months and thinks, oh, yeah,
I remember that happened.
Speaker 1 (10:46):
It might end that whole tariff thing might be like that. Yeah.
Speaker 3 (10:51):
Although the China, again, as we've been saying from the
very beginfference story, China is an entirely different subject.
Speaker 2 (11:00):
I would say an on News Nation this morning that
I was watching, they did a feature on this new
nuclear weapon we've got. That's more about our ability to
deliver it, but it's mostly about keeping up with China specifically,
and also Russia in their aggressive increasing the strength of
their nuclear arsenal.
Speaker 1 (11:17):
So they're calling it a new nuclear arms race.
Speaker 2 (11:21):
Oh boy, now that's some serious stuff. We got Katie's
headlines on the way and more news of the day.
I hope you can stick around. Text line is four
one five two nine five Kftcarrong a new image out
of what our closest monkey an sister looked like, and
it's very human.
Speaker 1 (11:42):
I'll talk about that letter to love evolution stuff.
Speaker 2 (11:45):
Also speaking of images, based on our One More Thing
podcast yesterday, Katie sent me you must have How did
you get him to me so fast?
Speaker 1 (11:53):
Like within an hour? Amazon.
Speaker 2 (11:54):
I got in the mail some chicken leg socks and
I took pictures of him on my life les and
posted it at Twitter. This is an attempt to drive
up our Twitter numbers or drive them down. Maybe more
people left. Yeah, then we are serious. Yes, and somebody
said you have rickets, dude, get some vitamins.
Speaker 1 (12:11):
Wow. Yeah, mix in an orange or two. Huh. Anyway,
more on that later. Let's figure out who's reporting what.
It's the lead story with Katie Green Katie Well.
Speaker 5 (12:20):
Starting with CNN, Inflation drops to two point four percent,
lower than expectations.
Speaker 1 (12:26):
Of two point five percent. There you go, good inflation news.
The day after the stark market has a giant rise. Huh,
we're back. Everything's coming up, Trump, I'm back.
Speaker 5 (12:37):
Maybe from Fox News, Doge reveals bizarre findings of unemployment
insurance claims.
Speaker 1 (12:46):
Quote this is crazy. I'm sure. Oh, I have no doubt.
Speaker 3 (12:51):
Any system that involves government payouts is got billions and
billions and billions of dollars. With the old WAA Waste
Fraud and Abuse Guarantee.
Speaker 5 (13:02):
Nine point seven thousand people with birth rates are birth
dates over fifteen years.
Speaker 1 (13:09):
In the future. That's sixty nine million dollars. Wow.
Speaker 5 (13:14):
From the AP freed Israeli hostages, thank Trump for efforts
to get the Hamas hostages released.
Speaker 2 (13:23):
Oh I got it, well, Russia, I got a little tidbit.
Maybe after your headlines we have time on eight three
dimensional chess theory around Doge stay tune.
Speaker 5 (13:35):
From the Daily Mail update after brave female fencer took
me and refused to fight against transgender rival, she has
left her team completely.
Speaker 3 (13:48):
I want to know that woman's name. I want to
know it like I know Riley Gaines. I think she
should be hailed as the hero that she is.
Speaker 5 (13:56):
From CNBC The Rise of AI generated prof By twenty
twenty eight, globally, one in four job candidates will be fake.
Speaker 1 (14:07):
What's the benefit of that.
Speaker 5 (14:08):
They're just saying that these job seekers are using AI
tools to make fake identities, fake IDs, make resumes and
lying about.
Speaker 2 (14:15):
Their You can't actually come in work, though, So what's
what are you foltimate goal?
Speaker 5 (14:20):
They're doing this for remote hiring jobs.
Speaker 3 (14:22):
Oh yeah, a lot of engineering tech jobs are remote hiring,
and these guys have figured out I can hold three
jobs and do the minimum work for each of them
and get a triple salary.
Speaker 1 (14:33):
I wish I was smart enough to do it. I'd
do it today. Rarely hold one job from the La Times.
Speaker 5 (14:40):
Wife of Weezer bassist is shot by LAPD during a
hit and run manhunt and accused of attempted murder.
Speaker 1 (14:48):
I watched this yesterday's nut.
Speaker 3 (14:51):
What a crazy story. Oh yeah, I need to know more.
I'm flabbergasted. There's a lots around them.
Speaker 5 (14:58):
The LAPD was in per suit of a totally unrelated
incident for a hit and run, and they drove by
the house and the wife of the Weezer bassist was
out there waving a handgun at the cops, and so
they had to handle her and they ended up shooting
her on the shoulder. And now she's being charged with
the tempted murder.
Speaker 1 (15:17):
Wow.
Speaker 2 (15:18):
She she would not put down the gun, then pointed
at the cops. They shot her, and then amazingly she's alive.
Speaker 1 (15:24):
And that's a.
Speaker 2 (15:27):
Little what are they What are you trying to do
when when someone's pointing a gun at you, I would
think your goal is to take them out, take them out.
And there was a bunch of cops there. She's like,
I'm wounded, but I'm fine.
Speaker 3 (15:38):
Yeah, often, yeah, the result is quit an impressive number
of bullet woes. Yeah, I expect more from the wife
of the bassist of Weezer.
Speaker 5 (15:48):
From the New York Post, Australian surgeon fined ten thousand
dollars for sharing a picture of a coma patients swastika
tattooed Pennis.
Speaker 2 (16:00):
Oh wow, I can see how it'd be hard to
not share that with the buddies.
Speaker 3 (16:04):
Speaking of stories with a lot going on, look at this,
how would.
Speaker 1 (16:07):
You not share that? Nazi Germany? From The Free Beacon.
Speaker 5 (16:13):
Members of Congress agree Jerry Nadler is the capital's worst
smelling man.
Speaker 1 (16:19):
What, Yes, I have that story? Really a story? Yes,
an aggressive scent, it's a real story. Yes. Yeah.
Speaker 3 (16:28):
He is the big old weavil of a fat progressive
who's known first fill in his drawers, Jack, disgusting me this.
Speaker 5 (16:36):
And finally, the Babylon Bee analysts clarify that Trump is
only responsible for the stock market.
Speaker 1 (16:44):
When it goes down.
Speaker 5 (16:45):
Yeah, exactly, And Joe just de side note that that
defencer's name is Stephanie Turner.
Speaker 3 (16:52):
Stephanie Turner, God bless you dear for your courage.
Speaker 2 (16:56):
Yeah, the you remember Lucy, one of the oldest skeletons
of like a human that have ever. They've got a
new computer mock up of what it looked.
Speaker 1 (17:09):
Like, and it is. It's pretty interesting to see you.
I'll talk about that later. Love that story. Did did
Lucy go with Nathan? Pronouns?
Speaker 2 (17:17):
Well, since I don't know, I'm not going to assign
a gender, don't misgender.
Speaker 1 (17:21):
The monkey guard strong, and.
Speaker 6 (17:24):
The President announces he's putting a ninety day pause on
most of his terrafs after Wall Street lost nearly six
trillion dollars in one week. There is one exception. He
is upping the ante on China. Is there any strategy here?
Is this any way to run a global economy?
Speaker 1 (17:40):
Well?
Speaker 4 (17:41):
I thought that people were jumping a little bit out
of line. They were getting yippie, you know, they were
getting a little bit yippy, a little bit afraid, unlike
these champions, because we have a big job to do.
No other president would have done what I did. No
other president I know the presidents, they wouldn't.
Speaker 1 (17:58):
Have done it. And it had to be done. Did
it have to be done? I don't know. You could
have slept through this whole thing. I'm not sure it would.
Speaker 2 (18:05):
Have changed your life any at this point if you
had ignored it. Rich Lowry of National Review tweeted out yesterday,
you know, the easier way to enter into trade negotiations
with our major allies and tariff China would have been
to enter into trade negotiations with our major allies in
tariff China. Maybe he feels he got some leverage out
(18:28):
of this or not.
Speaker 1 (18:29):
I don't know. Others will decide that.
Speaker 3 (18:31):
Well, And the probably unanswerable question continues, although I suppose
the books will come out to the extent that you
trust them someday. But the question continues to be does
Trump have a strategy? Is this a coherent set of
maneuvers or is he just going moment to moment trust
in his guts and then reverses.
Speaker 1 (18:51):
Field willingly that one.
Speaker 2 (18:54):
Oh okay, I think, But I mean it's worked for
him his whole life, So I can understand why. You know,
if you're a successful financial person and her headed number
one TV show, you're a billionaire and you elected president
twice nearly three times, Yeah, I can see how you
trust your gun.
Speaker 1 (19:13):
Yeah I would too.
Speaker 3 (19:14):
It's not completely you know, out of left field. On
the other hand, pride goeth before the fall and almost
has so anyway, So is it all's well that ends well?
Is it no harm?
Speaker 1 (19:26):
No foul? Is it? Where are we? Has there been
no harm?
Speaker 3 (19:29):
That's the question a lot of people are asking in
terms of our allies, the world's perception of the United
States as the safest, best place to put their money always,
has that been hurt?
Speaker 2 (19:41):
Tom Friedman says yes in The New York Times. Course
he does. But he says that our allies in Europe
will never trust us again, and they'll see China as
a more steady, predictable partner.
Speaker 3 (19:54):
Okay, I you know, so many years ago I read
so many things from Tom Friedman of the that I
thought were fantastic. Honestly, I don't want his opinion on
anything other than what's the best Chinese food?
Speaker 1 (20:05):
Close to Times Square? At this point, I.
Speaker 2 (20:10):
Think, I mean, in terms of the world splitting between
US and China, which is what's happening. I still think
people are going to go with the United States because
China is They're all They want to take you over.
Speaker 1 (20:22):
They don't want to be your business partner.
Speaker 3 (20:24):
Yes, they have a way of making you truly regret
your partnerships through the years.
Speaker 1 (20:30):
So a glimpse behind the scenes.
Speaker 3 (20:31):
I was dealing with a bit of a domestic crisis
during the commercial break, and so we didn't really get.
Speaker 1 (20:35):
A chance to chat.
Speaker 3 (20:37):
Playing the Charlie Gasparino stuff seems apropos right now, How
do you feel about that?
Speaker 1 (20:42):
Yeah?
Speaker 3 (20:42):
He was on Fox News just after the pause was announced.
Speaker 1 (20:45):
Moments later.
Speaker 3 (20:47):
Yeah, the aforementioned Scott Bessen to and others came out
and said this was the plan all along. This president
negotiates like no other. And then Trump came out and
he said, yeah, I saw people freaking out, so we
changed our minds. Of course, people are like, thanks for that,
but it happens. I found this instructive. Perhaps you will too.
(21:08):
Let's start with clip sixty Michael and just go from there.
Charlie Gasprino yesterday.
Speaker 7 (21:12):
I want to tell you right now that Donald Trump
out smarted the world. Trust me, I'm an American. I
support my president. But that's not really what happened here
from what I understand, and I know I'll get pushed back,
but here's what it is. First off, we should point
out that one of the good things about this is
that Scott Bessen is finally in the White House. He's
finally leading this. I mean, up until a couple of
(21:34):
days ago, it was Lutnick, it was Peter Navarro, the Commerce.
Speaker 1 (21:38):
Secretary, the trade advisor, very much hawks.
Speaker 7 (21:40):
Now it's Scott Besson, who believes in cutting deals as
opposed to you know, not, you know, just putting these
tariffs out there. And let's be amercantilistic economy.
Speaker 1 (21:50):
All right, to see this set to the substance.
Speaker 7 (21:53):
But number two, let's recall what happened overnight. And from
what I understand, and I'm getting this from people that
are talking to the house, what happened in the bond
market overnight, the spike in yields on the thirty year
and the ten year bond, which showed that people were
dumping our bonds. And who are those people dumping our bonds? Japan,
(22:13):
the biggest holder of bonds, was selling bonds. That's what
I'm getting from some very big money managers. China maybe
to some extent, but it was largely Japan and others.
If you have a mass sale of bonds, that means
people are losing confidence in the US economy on the
ability to do deals with US. And from what I understand,
(22:35):
this is what forced the hand of this ninety day reprieve.
Speaker 2 (22:40):
And apparently apparently Trump didn't think that was going to happen,
or not as much as it was happening.
Speaker 1 (22:45):
Yeah.
Speaker 3 (22:46):
In other words, since we spend way more than we
take in, and it's good to have cash flow, even
if you're being smarter than we've been as a country.
It's nice to be able to say, hey, would you
like some of our bonds to invest your money?
Speaker 1 (23:01):
We'll pay you three and a half percent.
Speaker 3 (23:03):
And at some point, like overnight, they start saying, we
don't want your stinking bonds at three and a half percent,
Well would you take him at.
Speaker 1 (23:10):
Four and a half, How about five and a half.
Speaker 3 (23:12):
And all of a sudden, our borrowing costs are skyrocketing.
And I don't know if you're familiar with this, we
run hillacious debts in this country. We overspend like coke
binged and binging sailors. Anyway, So that's part of the panic.
A little more from mister Gasparino, you know, are.
Speaker 7 (23:29):
People coming to the table. Yeah, but if you know,
if you read me between the lines or not, even
what Scott Bessen said, we have no deals, right, there's
nobody that is really there saying this is what we're
going to do, and they paused it anyway, So my
thing that said, well, i'll give you this, there is
some art of the deal here, and by the way,
brilliant move by putting China in the corner.
Speaker 1 (23:52):
But that's a whole separate.
Speaker 7 (23:53):
Thing because remember that's a very difficult negotiation.
Speaker 1 (23:56):
Everybody else is a lot easier.
Speaker 7 (23:58):
They really wanted to, they do want to deal with us,
whether they want to be forced into really bad trade
deals on their end as a whole other negotiating story.
Speaker 2 (24:07):
Yeah, we haven't mentioned that. Along with the pause of
everyone else. He upped the tear off some China to
what now one hundred and twenty percent, So what it is?
Speaker 1 (24:15):
It might be more. In the last ten minutes.
Speaker 3 (24:17):
Everybody's ratcheting it up, and so everybody Trump and Chesion pick.
Speaker 1 (24:21):
Both of those things happen.
Speaker 3 (24:23):
But Jack, how would you describe the bond market now
it underpins the economy?
Speaker 1 (24:28):
I wouldn't. Would you say it's the plumbing of the economy,
That's what I would say.
Speaker 7 (24:33):
But make no mistake about it, you cannot divorce this
decision right here from what happened last night, which was
you know I and people focus on the stock market
all the time. It's the bond market and the sort
of lending markets that's the plumbing of the economy. And
those markets were imploding last night. And that's why we
have a ninety day freeze. Let's see if those markets improve.
(24:57):
I've someone told me we had a decent treasury wash
oction today. But if you can't sell your treasures, guys,
and people are unloading your treasures, like Japan, which is
I believe the largest foreign holder after China.
Speaker 1 (25:09):
Just to be clear, there was an option that.
Speaker 2 (25:11):
Just so, the bond market is the plumbing of the economy,
and it was imploding. And I can tell you, if
you're plumbing implodes, you're going to have to call into
work and say I'm not going to be.
Speaker 3 (25:20):
There today, call service master. Yeah it's terrible. It's oh,
it's so gross. So Charlie Gasparino there, I have no
reason to doubt his explanation. I have come across no
serious contradiction to his exploits.
Speaker 2 (25:35):
I think it's fascinating that there was some metric that
was enough to make Trump say, now this isn't working
or going to work.
Speaker 1 (25:46):
Yeah, And I don't know if he.
Speaker 2 (25:50):
So, He famously, as everybody has been talking about for
a week now, has been saying this since you know,
the eighties on Oprah Winfrey Show, that we're getting ripped
off and kneed teriff, Yeah, and you got so. Does
he still believe that? Does he believe that his that's
still true, but his cure for it doesn't work for.
Speaker 1 (26:12):
Whatever reason, I want, I wonder where he is on
all that.
Speaker 3 (26:15):
Yeah, I mean, and this is the sort of thing
that might freak out new listeners who think every radio
show ought to be one hundred percent pro Trump or
one hundred percent anti Trump. We calls him as we
see them. But I think a Trump is very adaptable.
He is more than willing to say that didn't work,
We're going to try this. He does not cling to
(26:36):
ideas that do not serve him. You know, he's a
little parapatetic and mercurial for my taste. And I think
some of the stuff he's pulling may damage our standing
in the world over the long term. Having said that
critical stuff, I think trade wise, this could end up
in a very very good place with reasonable trade barriers,
(26:57):
if any, with our friends and allies and non enemies
in a way that was way way overdoing happening. On
the other hand, he never counts when he talks about
trade surpluses and deficits.
Speaker 1 (27:08):
And he never counts services.
Speaker 3 (27:10):
And I understand the allure of manufacturing and making our
own stuff and being self reliant on critical industries, but
I mean we export. We have an enormous trade imbalance
in our favor, a surplus for services, banking, entertainments, financial advice,
to the thousand different things. So to the three dimensional
(27:33):
chess teck, I'm sorry the obvious tech. Yes, three dimensional chests.
Speaker 2 (27:37):
So I remember asking Bill O'Reilly this question back when
Bill O'Reilly was the number one show cable show in
America ten years ago, twenty fifteen, when Trump was running
is this three dimensional chess? Or is he just winging it?
And I remember Bill O'Reilly saying it's not three dimensional chess.
(28:00):
I think that is generally the case with Trump. But
I do wonder about this one. Maybe around Doge more
than the tariffs, because he's been talking about the tariffs thing,
you know, for for forty years, as we mentioned, But
maybe around the Doge thing getting so much attention. What
was everybody saying leading up to the election, including us.
(28:21):
The number one political story of twenty twenty five is
going to be the Trump tax cuts. That's going to
be all everybody's talking about. And nobody's talking about it,
and they're working on it behind the scenes. And there's
a bill last night that didn't happen, but they're working
on it constantly behind the scenes, and.
Speaker 1 (28:38):
Nobody's talking about it.
Speaker 2 (28:39):
And I mean, Trump is you know, a TV producer,
guy who understands the media and how they flock towards stories.
And I just wonder if some of this stuff might
be I'm going to get the biggest that tax cut redone,
and that is going to set the economy in place
the way I want it the rest of my term.
And that is the whole enchilada, and nobody's talking about it.
Speaker 3 (29:01):
I do enjoy a good enchilada. Perhaps that is the case.
We'll we'll all find out together from our friends that
simply save home security. It's a chaotic, scary world, and
we're not talking about trade negotiations. Too many junkies, too
many scumbags on the streets, too many policies.
Speaker 1 (29:16):
That have made crime too easy.
Speaker 3 (29:18):
But with simply save millions of Americans enjoy greater security
and peace of mind every time they arm their system.
Speaker 2 (29:24):
I love the outdoor out hm, I love the active
m mmm.
Speaker 3 (29:32):
I'll get to get the spoon from mister Armstrong's tongue
right out.
Speaker 2 (29:35):
They got this thing with cameras in your yard and
around the house, and there you can catch skip it.
Speaker 1 (29:39):
Yeah, I'll skip it.
Speaker 2 (29:40):
They can catch bad people before they break into your home,
which is really really cool. They use AI and also
professional monitoring agents.
Speaker 1 (29:47):
It's about a dollar a day.
Speaker 2 (29:48):
With no long term contract, which is a main Wait
a minute, something that advanced and unpronounceable.
Speaker 1 (29:53):
Is just a dollar a day. That's way less than
my old crappy system.
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Speaker 2 (30:14):
And then one more thing before we take a break,
because you got mail bag coming up, is this wasn't
on purpose, but ended up being. You know, everybody's talking
about the end of the all those other tariffs without
much focus on the fact that he just exploded Chinese
tariffs on China to one hundred and twenty percent from
what were they before forty five. And I mean, if
(30:37):
he had only done that, that would have been such
a giant headline. It never been to be talking about it,
and a lot of people would be saying it was
a horrible mistake.
Speaker 1 (30:43):
And now it's just kind of like not even a story. Yeah,
you're right.
Speaker 2 (30:47):
I don't think that was on purpose, but that is
the ultimate end result. I think, what was that movie?
Everything all at once, all the time. That's the news
flow right now. Yeah, what do you focus on?
Speaker 3 (30:57):
If you're a Democrat, they're miserable, their heads are in
their hand.
Speaker 1 (31:00):
I don't know what to yell about. Uh mailbag on
the white bunch of other stuff. Stay here.
Speaker 2 (31:08):
I had to get up backtra early to take my
dire Wolf pumps for a walk around the block.
Speaker 1 (31:14):
Before I went to work.
Speaker 3 (31:16):
Yeah, if they get to Nancy, they'll really tear up
the furniture being I eat your fish saw tall at
the soldier at the shoulder. Yeah, exactly, enormous. Here's your
freedom loving quote of the day. Love this one from
PJ O'Rourke. Jeff sent it along. It's terrific. It's just
quoting it the other day. An entitlement is what people
on welfare get, and how free are they. It's not
(31:36):
an endlessly expanding list of rights. The right to education,
the right to healthcare, the right to food and housing.
Speaker 1 (31:43):
That's not freedom, that's dependency. Those aren't rights.
Speaker 3 (31:45):
Those are the rations of slavery, hay into barn for
human cattle. There's only one basic human right, the right
to do as you damn well please, and with it
comes the only basic human duty, the duty to take
the consequences.
Speaker 1 (31:59):
I couldn't love that more. That's pretty good.
Speaker 3 (32:01):
If I had a manifesto, that would be in the
lead mailbag prob us a note mail bag at Armstrong
and getty dot com weirdly dental related mailbag today this
later today, two pm Eastern, I'll be listening to the
A and G podcast, as I have for many years,
but this time I'll be listening to it while undergoing
(32:22):
oral surgery. I mean a couple holes drilled to replace
an implant, et cetera. Why am I reading you this
because of the sign off, Michael, can you lower the music?
There's a hole in my mouth where my teeth once. Well,
somebody's my again, Monney anyway, owen too that it's Kevin.
That's really funny. And then this Mike from Surf City.
(32:47):
But the tennis today with my fifteen year old son.
He's been going to this place most of his life,
and we've always known there's this wackado roaming the halls.
Usually he's just loud and opinion that he'd opinionated, but
day he went full feral. Now he already had his
hands in my kid's mouth, so I've always let his
loud anti trump rant slide. But today he launched into
a tirade about the China tariffs and now everything comes
from China. I held my tongue for about half an hour,
(33:09):
but the mixt of dennist off his tension and one
lie after another finally pushed me to respond with a
little common sense. Anyway, so this guy gets all agitated
and starts yelling he's got no facts. He's just like
a homeless methadic coming at me on the street, just
pure intensity and zero logic and I'm gonna skip ahead
a little bit, but somewhere in the middle of his madness,
(33:30):
I somehow had him supporting slavery and child labor, all
while complaining that the minimum wage is too high in California.
Poor guy's never had so many truths at once. My
son looked at me afterwards and said, Dad, he was
gaslighting you. He didn't have a single good point. All
he could do is yell. Fifteen years old and already
smarter than half the country or more, says Mike from Serfs.
Speaker 4 (33:49):
Yeah.
Speaker 2 (33:50):
I for when I'm in those situations, I try to
get to a yeah. I don't talk about politics very quickly,
just yeah, I'm not listening to.
Speaker 1 (33:59):
Even if I with you, I don't want to talk
about this.
Speaker 3 (34:02):
Why you're working on my kid's teeth, that's great if
it persists. I am on the phone that day with
the dentist saying, you get rid of this person, or
we will go. We are gone, and we'll tell everybody
why we're gone. That has to end. Like day before yesterday,
Reagan put it. Let's see Burbank Luke with an excellent
point here. Larry Summers said, of the tariffs, this is
(34:23):
the first US bout of US financial stability caused by
the US government. What a statement, I guess the housing
bubble and subsequent recession of twenty oh eight slipped his mind. Excellent,
that was caused by granting mortgage just to anyone who
could fog a mayor. Thanks Bill Clinton and Barney Frank
excellent point while he was Bill Clinton's Treasury secretary. How
about our government racking up thirty six trillion dollars worth
(34:45):
of debt or allowing China wage total war on US
for the last thirty years with the favored nation status
we granted them. I wasn't going to count the disastrous
COVID policy lockdowns was disrupted every aspect of our lives,
causing massive inflation and job losses because state governments share
the blame. Then I remembered what government paid for the
gain of function research. What an f and clown Thomas
(35:07):
Soul was onto something with that quip about Harvard men
per Bank Luke bringing it.
Speaker 2 (35:13):
I'm I'm an ostrich head in the sand on a
lot of your macroeconomy stuff. I just I'm so cynical
and like practically conspiracy theory guide that I just feel
like there are very powerful people the top that run
all this and do whatever hell they want and get
really really witch And I mean the Scarborough was mentioning
the other day on MSNBC, and I was happy that
(35:34):
he brought this up. Was the Giant two thousand whatever
it was housing crash. Nobody went to jail, nobody, nobody
destroyed the economy.
Speaker 1 (35:46):
So many of us I lost hundreds of thousands of dollars.
Speaker 2 (35:49):
I mean, so many people lost so much money because
they are giving loans to people.
Speaker 1 (35:54):
That should have never gotten loved. Nobody name of equity.
Speaker 3 (36:00):
Nobody got except well and Progressive America never stood up
and said, yeah, that policy was disastrous.
Speaker 1 (36:07):
It was miserable. We have inflicted this dam engine we apologize. Nobody.
Speaker 2 (36:10):
Ah so excited, I can't get started on and it
makes me too angry. So that's why coming to the
reasons I've given up on that whole thing.
Speaker 3 (36:17):
Coming up next hour, Jack, Yes you can outrun a horse,
I will explain.
Speaker 1 (36:23):
Wow, that's the question of the day. How the hell
did that come up?
Speaker 2 (36:27):
If you missed the second, get the podcast Armstrong and
Getty on demand.
Speaker 1 (36:31):
Armstrong and Getty
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