Rock n' Roll Legend Tina Turner passed away yesterday at the age of 83 - we remember her. The battle regarding the debt-ceiling could ultimately come down to spending - to freeze or cut? And KFI Anchor, Business Expert and Host of MACRO Jason Middleton joins the show to talk some business! We are slowly but surely being overwhelmed with streaming services that require subscriptions; who will figure out how to rebuild pay-television first? Interest rate increases may not yet be done. And the home improvement boom in America may be fizzling out.
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Your listening to kf I Am sixforty the bill Handles show on demand on
the iHeartRadio f K five Am fortyBill Handle Here. It is a Thursday
morning, May twenty five. Someof the bigger stories we are covering,
and that is the debt ceiling votenot going to happen today June first,
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next week, and Congress is goinghome for the holidays. They're not even
meeting until next Tuesday. And yesterdaywe heard, in an astoundingly surprising move,
that DeSantis is running for governor andhe was gonna He was doing it
on a Twitter feed from with theElon Musk and it just didn't work.
It just glitches all over the place. The other big news, probably the
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biggest that we have seen today,was yesterday's announcement that Tina Turner had died.
And Tina Turner, of course theR and B legend she was eighty
three years old, died in Switzerlandbecause that's where she lived, and there's
a whole story there, just afascinating woman, insanely talented. Her representative,
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I guess her PR person issued astatement, Tina Turner, the Queen
of rock and roll, has diedpeacefully. Today, at the age of
eighty three, after a long illnessin her home at kus Nacht near Zurich.
The world loses a music legend anda role model. Now usually you
get this pr you know, justthis pablum about people. This one is
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absolutely on point. She made hercrossover. Remember Proud Mary. If you've
ever seen a video of her singingProud Mary, I mean it is electric
and she I gotta tell you herhistory is so fascinating that she started as
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a young obviously a young black girlsinging in the church choir. And that's
basically her music career was a totalfluke. And part of it was Ike
Turner, and he's the one thatgave her her name, and he ended
up they ended up getting married andhaving a child, and she became the
star of that duo. I Turnerhad a band and she was I think
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sixteen years old when she just Turnerwas at a club and she just asked,
can I sing a song? AndTurner looked at her and said,
oh boy, do we have someonehere. And it was almost like Aeneus
stepping into a role and becoming thebig star. If you ever seen forty
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seconds Street. So she grew upshuttling between relatives as a child's or mother
left an abusive father when she waseleven, graduated high school, began working
as a nurse's aide, but goingto these Saint Louis Black Nights night spots.
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That's where she grew up. Nomusical experiences outside the choir. And
it was a nineteen fifty eight sitin where she sang that song at the
gig that Ike Turner had at thetime, and he gave a response as
a backup singer, and she gotinvolved with one of the band members and
they had a child and one dayhere we go. Here's the Angeneus story.
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In nineteen sixty one of the artistsfailed to show up for a recording
session, so she was drafted takethe lead, You've got to do it,
and that love was that song wasa fool in love. Then the
tap found its way to the presidentof an R and B label, Sue
Records, who then said we've gotsomeone here. Ike Turner said that's Tina
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Turner made up the name, andthen they went from label to label and
for ten years she was just bouncingaround. They had some modest hits,
nothing spectacular, and so how didhe become a huge star? Well,
if you remember Phil Spencer, andnot Phil Spencer, I mean Specter,
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Phil Spector who looked at her andsaid, Okay, we're going to take
a song and we're gonna make thisas part of the wall of sound,
and it became, if you everheard it, one of the biggest flops
in record history. Tina Turner withher first big, big hit, was
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not a hit. It just diedand she kept on going from label to
label and singing. I'm assuming shemade some kind of a living traveling with
Turner. And then came nineteen seventyone Proud Mary Clearance. They covered Creton's
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Clearwater. Fogerty wrote that song,John Fogerty and it turned out to be
a huge hit. And then shejust exploded from there. And then she
became a movie star member the Gibsonfilm Thunderdome, Mad Max Thlenderdome. I
think it was where she played thevillainous spectacular sang the lead song to one
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of the James Bond films. Andremember the single that was for forty five
days or six months on the fortyfive day roles number one, What's Love
Got to do with it. Justan extraordinary woman. And she met this
record executive, a businessman. Actuallyhe was German, or he is German.
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He's still he's still there and theymoved to Switzerland and they've been together
for twenty five years. And it'sit's someone who really, really is going
to be missed because you look atthe talent of this woman, you shake
your head and go, this isextraordinary. And she kept on performing into
her seventies and she looked great.And she reminds me almost a female Mick
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Jagger the way she pranced and dancedand the energy that she shows or she
did show on stage. Just awonderful, wonderful woman. One of the
other big ones. And this oneaffects every one of us. Not that
Tina Turner dying doesn't affect us,but this is big time in our pocketbook,
everyday life kind of thing. Andthis is the debt ceiling fight that's
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coming down the wire. There isno compromise at this point, there is
no deal cut. June first isthat magic day when the country just runs
out of money. We're in defaultnow, it's going to be incremental.
June first is the worst case scenario. Janet Yelling Treasury Secretary, and she
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was former head of the FED,so she's got some credentials. Has said
that if we go into default,which we're going to, if the President
and McCarthy don't cut a deal,then the country doesn't have the ability to
borrow money to pay bills. We'renot talking about the budget coming forward.
We're talking about bills that are owed. And so what does that mean If
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the country doesn't allow Congress doesn't allowthe US to keep borrowing money to pay
its bills, that means bills aren'tpaid, like Social Security checks, like
pensions, like Medicare payments. Imean, we're talking something that is well.
I think catastrophic is a legitimate termto be used. So let's talk
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about the fight. It is atraditional fight ongoing, and it should be
a fight. I mean, thisis what makes America America, where you
have a political right and a politicalleft. Unfortunately, the political right has
gone crazy right, the political leftnot as much, but the polarization still
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takes place. The left has notgone so far left that compares with the
right going right. But you knowwhat, it's happened before. It's happened
when liberals co opted the entire country. And now it's the Republicans. The
Republican fundamentalists, the hard right haveco opted the entire Republican party have co
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opted. And this is election.So you can't argue with this. State
legislatures, forget Congress. State legislatureswhere many cases have far more power than
Congress. It's astounding how far rightthey've gotten. Look at some of the
abortion bands. Six weeks before awoman, even though she's pregnant, you
can't have an abortion, but weallow abortions before the six weeks even if
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you don't know you're pregnant. Imean, it's pretty crazy stuff. Oh
by the way, if a doctorperforms it nine to nine years in jail,
you think that's going to be aproblem. Of course, if you
murder seven or eight people, it'stwenty five to life and then at least
you have a shot for parole.I mean, go, figure, now,
what's going on? What is thephilosophy? What is the basic problem?
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And that is we go down toright wing versus left wing? Right
wing Kevin McCarthy says, we cannotspend more money than we have makes sense
true, because at some point itbecomes insurmountable when you cannot pay your bills
and you have bills that are morethan you make, and you keep on
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borrowing and borrowing and borrowing, atsome point it becomes insurmountable. Well,
not with the US government. TheUS government can keep on borrowing forever if
Congress allows it to borrow. AndCongress is stopping it cold because Kevin McCarthy
is saying, you can't spend morethan comes in, and we want a
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freeze, no more than last yearor even better, we want to cut
spending. Let's bring the deficit down, because Joe Biden and the and the
Democratic Congress is completely out of control, spending far, far more money,
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do you remember, than they shouldon programs that shouldn't be funded. And
these are usually liberal programs, socialprograms. When it comes to defense,
they're fine. But it's a questionof philosophy, that's all. When you
have Democrats thinking that every program,every social program, is great, let's
just spend money like crazy, versusconservatives who say, wait a minute.
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You know, not that they wakeup in the morning say let's have children
starve, but say, wait aminute, we can't keep on spending this
money. And you have liberals saying, let these people across the border because
they should have to be given achance. And then you have conservat saying
you're crazy. So you know,it's legitimate discussions. But here is the
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utter hypocrisy, and that is KevinMcCarthy saying, we don't want to spend
more money than we come in unlessDonald Trump is president of the United States,
then whatever deficit will gladly fund.How about this a trillion dollar deficit.
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How about this, President Trump spentmore money, more money as a
percentage and a deficit than any presidentin history. And that is we're not
talking about pandemic either. I giveeverybody a pass during the pandemic. I
certainly give President Trump at that pointa pass spending billions of dollars on developing
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the vaccine, and I give JoeBiden a complete pass on the distribution of
the vaccine and the stimulus package,because America is in deep, deep trouble
under President Trump. As a deficit, every year more money was spent than
during World War Two, where theentire country was at war and the entire
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country was on a war footing andborrowing money like crazy and selling treasury bonds
and just going and everybody was onthe same side too. So now because
you have a congressional the makeup ofCongress is democratic by three. I mean,
it's just as by a hair andthere's the democratic president. We are
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going to make sure that we don'tspend the money, and we're willing to
say there will be no borrowing unlessyou freeze the budget no more. Or
they're even talking cuts, and it'slegitimate the cuts. I mean, there's
it's real cuts they're talking about.And so you're gonna it's gonna it's gonna
come right down to the wire.And I'll tell you what, if there
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is a Republican Congress, there isnow, and a Republican wins. I
think, uh, Donald Trump isgoing to certainly win the nomination. I
guarantee you Kevin McCarthy will go theother way. We spend whatever our president
wants us to spend, and itdoesn't matter if it's trillion dollar deficits.
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And I know those of you whoare Trump followers, and you know I'm
not particularly a Trumpist, I wantyou to refute that. I want you
to say that's not true. FormerPresident Trump did not spend more money a
trillion an access of a trillion dollardeficit every year he was in office.
Tell me that's not true. I'dlove to hear that it's gonna go crazy
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over the next few days. Yeah, I think June first is gonna come
and go, and we're gonna seenot on June first. But look at
what the markets of doing this lastweek, down hundreds of points every day.
One of the topics that we havecovered, and it's something that is
on the good news side, andthat is the accept of mental illness,
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not the acceptance as mental illness,because we like mental illness. That kind
of acceptance. It's acceptance of identifyingand knowing that it's here and whatever stigma
attached to mental illness should go awayand removing in that direction. And there's
a bill that's just been introduced bya state Senator, John Laird, he's
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a Democrat out of Santa Cruz andit had to do with PTSD and other
illnesses, any kind of mental illness. And it literally is from work and
it is limited to first responders,firefighters, firefighters, police, other first
responders. And why is that Well, because of the kind of work that
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is done, because of the hours, because of what they see. I
mean, ambulance emt s show upat car accidents, you know, in
these fatal car accidents, and theysee just horrific scenes. And this goes
on year after year, and youwould think that mental illness would be part
of that subsequent to that. AndI've heard no I disassociate, no I
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compartmentalize. No I can put thataside. Well, the answers, you
really can't. Very few people can. And so and the other thing about
first responders and why this bill isso important, is that first responders are
macho men, maybe even macho women. But for the most part, you
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know they're not going to admit I'mmentally ill. I'm a firefighter. Come
on, I'm a cop. Lookat the stigma that is attached to admitting
you are mentally ill. Now,you could have always gone to workers comp
And the rules are pretty extensive too. You have to be diagnosed. You
have to prove that your illness asa result, your mental illness as a
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result a direct result of the workyou've done. I mean, that can
be done, and as a matterof fact, the law does allowed it.
But this new bill, which passedthe state Senate thirty five zero unanimous,
and there are Republicans in the stateSenate. I think one point eight
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republicans, not many of them,certainly Democrats have a supermajority. Everybody voted
for this, and really what itdoes, it really doesn't extend much.
Those are other bills going in thework, in the works extending the ability
of firefighters, first responders to gethelp programs. What this one does is
simply say, you know Worker's compwhich covers the first responders, Well,
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this program that is that is nowin existence only lasts through January first,
Yeah, twenty twenty five, twomore years, and then it expires.
So what this bill does to say, Okay, let's go through twenty thirty
two, give the US giving ustime to expand programs. But I think
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the takeaway here is ian we obviouslyon our first responders. I mean,
they have some of the toughest jobsout there, cops putting in their lives
on their line, firefighters rushing intosay burning babies, maybe even you on
a good day, and they reallyhave a tough time and getting them to
remember when it admit there's a problem, going to a shrink and dealing with
there's a problem, and so we'removing in the right direction. And there's
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another one, this bill that justcame in extending the extending the coverage until
we get more in coverage right intotwenty thirty two. I want to get
into flying on I mean, Igo away this summer. I'm going to
jump on an airplane, which Ido every summer and sometimes every winter.
I get on an airplane and Ifly. I also go to Las Vegas
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to visit my best friend and partner, and so I'm on an airplane a
lot. And one of the thingsI do is I fly coach, and
when I buy enough stuff, I'llupgrade. Alright, So I'm not gonna
scream about business class. I've doneit a few times and it is wonderful.
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Most of us fly coach, andmost of us have a miserable time
flying coach. And we know allthe reasons. People are just packed in
like sardines. The peanuts they oh, they don't hand out peanuts anymore because
of peanut allergy. The pretzels they'rehanding out are now stale pretzels because they're
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cheaper to buy. And it's justmiserable. And so there was an article
in the New York times written bya in this case a female stewardess as
opposed to a male stewardess. Andit has to do with etiquette. You're
flying, and she has twelve etiquette. Etiquette rules. Okay, I'll get
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there. She has twelve etiquette rules. Some are okay, some are,
you know, not surprising, andmaybe one or two were kind of really
I didn't know that, all right, So let's start. Everyone has the
right to recline. That's absolute starter. But there's a polite way of doing
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it. Now she talks about slammingback the seat quickly, which of course
really disrupts everything behind you. Youhave spilled drinks, you have laptops,
Fist fights have been caused. Sothe suggestion here is before reclining, look
behind you and nicely ask if thatperson minds, well, two things are
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going to happen. If the personis going to say yes, I mind,
that's for starters. I wouldn't evenask. On top of that,
if you really want to be polite, don't lean back. And in reality,
is you lean back, you gainan inch. What's an inch?
Well, certain circumstances an inches alot, But what is an inch?
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So you know what's happening. Moreand more people aren't reclining. They're not.
Okay, that works, but notbecause of her rule of etiquette,
clean up after your kids, andno one does that, she says.
We're not mates. We don't haveaccess to vacuums or brooms or cleaning supplies.
So whatever we can do, wesort of clean it up if we
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can. But you know you're apig. You ever been the last one
off the airplane or way in theback and you're moving towards the front to
get off the plane nothing but garbageon the seats in the aisles. Yeah,
one of the worst jobs is cleaningthat stuff up. The only worst
job is it used to be we'recleaning up at porno theaters after this.
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That was horrible. Didn't have thatjob. By the way, the overhead
bins, as she puts it,aren't your personal Tetris games. The bins
are first come, first served.You don't own the spot directly above your
seat. It's not acceptable to takeout someone else's bag to make yours fit.
Have you ever seen that happen whereyours is crammed all the way over?
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And I've never had actually my bagtaken off but I certainly have my
bag where stuff is put on topof, moved, crammed over and so
here let me tell you here's atakeaway, and this may be surprising,
and that is if you can,before you get on any airplane, rent
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a wheelchair, go to the frontof the line, never a problem putting
your bags on the overhead bin.Or if you don't want to get a
wheelchair, get a cane. Thoseare cheap. You go to Walmart,
you get one of those collapsible canesand then just move really slowly out in
gimping and guess what I find thatworks beautifully. Otherwise you know you're small
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bags under your seats? What apain that is? No one wants to
hear your FaceTime conversation. People dothat way too much. Shut up,
and I've told people, hey stopit. The middle seat if you're unlucky
enough to get middle seat. However, if you're lucky enough to get the
middle seat, you get both armrests. Now, did you know that that
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is an upgrade? So your armrest, which is about one point two inches
in with you get to put yourarmrest. If you're going to be a
very heavy person that has a saggyarm you know it actually trapes over the
armrest. Those are always fun tosee. If you have a conversation that
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you don't want to hear next year, just put some headsets on. Now,
bring some headsets and just throw themon, and that usually that usually
helps. Here is one that makesall the sense in the world. Keep
your socks on now. No onehas a problem with you taking your shoes
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off. I do that all thetime. You know, you want to
be comfortable. There's no room upfrontshoes or bulky. However, according to
this and a lot of people,feet stinks and that's really the first place
where you have this odoriferous odor.And so she says, just do us
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all a favor now. But youcan't go a stewart eye. That's many
stewardesses cannot go up and say putyour socks back on. They won't say
that, but just do that.Don't discipline other people's kids. Oh god,
I once gotten so much trouble.Kid wouldn't shut up, so I
started slapping the kid. I mean, granted it was only seven months old,
but still there was so much noise. Use the call button. Wisely,
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that makes sense. A few othersdeal with your seating issues before you
get on the plane. Before Ihad my bariatric surgery, I once got
on an airplane and I was coached, and it was it was a two
seater on one row and then threeseats on the other row. And I
was in the two seats section andI walked up and there was someone a
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woman who ate must have weighed threehundred and fifty pounds, who had put
the arm rest up and she wasninety percent across both seats. And I
just went to the stewardess because thatwas in stewardess days, and literally handed
her the ticket and says, wheredo I sit? And she just burst
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out laughing and they found another seat. But ask upfront, and you don't
have to switch seats. If someoneask you no, no, don't do
it now. They gotta get pissedat you, especially if you have family
members. You're gonna have a littlekids that are flying and they put different
seats because maybe they booked late,and you have a back Again, do
we go to our seven month old? Can I switch with you? No?
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You can't the kids seven months youknow it's time for him to grow
up. And the last one isplease please flush. Oh yeah, that's
pretty disgusting. Well, you gotone hundred and thirty people using one bathroom.
You're gonna find one slob there,aren't you? Yes, yeah,
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yeah. It is now time formacro with the Jason Middleton Economy, Economy,
where are you? The economy isin the crapper. It's time to
get its macro. Macro with JasonMiddleton on the Bill Handall Show, and
(25:53):
Jason is heard two pm to fourpm on Sunday. His show is Macro
and it's macroeconomics. And uh,the only uh, if you ever took
economics in school, which I did, the only thing that was more complicated
and more difficult to understand than microeconomicswas macro economics. Uh, it is
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not easy stuff. Micro academic microeconomics pretty easy. It's your checkbook.
You reconcile your checks when you hadhim. Macro economics is everything big picture
that's going around. So Jason,h big picture and I mean the biggest
picture is the story about the debtceiling and June one as the drop date.
(26:41):
Uh, let's talk about it whetherit really is June one or is
this on some kind of um,what's the word I'm looking for, um
uh, some kind of a aladder effect. There's a word there I'm
looking for. But i'll effect,yeah, I'll do. I'll wake up
in the middle of the night andjust bolt up and start screaming it.
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There's a couple of reasons why thishas the latter effect, why it has
so many potential ripples. First,we don't have any experience with what happens
if we move past the X date. The X date floats because of incoming
tax revenues and what not to fundthe government. And that's what Janet Yellen,
the Treasury Secretary, is getting behindwith her calculations and her department.
And don't forget she was also FederalReserve chair for a long time, so
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she knows how to look at itfrom the macro economic stool that Jay Pie
sits on right now. But asfar as what he could do if things
come back this way, but honestly, okay, quick, sharp deep recession
immediately happens if we defaults. Hey. One of the things that I was
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watching last night is the government.You would think the government knows exactly how
much money is coming in and howmuch money is going out. They really
the government really doesn't know how muchis coming in in terms of taxes paid,
revenue. It's sort of up inthe air, and some months the
government is taking in piles of moneyand spending little, and sometimes it's reversed.
Yeah, it's all formulas, right, which is why economists tend to
(28:10):
be pessimists. They're like farmers thisway because it's hard to predict the future
using the past as your only basis. But that's pretty much what they have
to do when it comes to predictingthe economy, which is why the discussion
about a recession later this year evenwithout a debt ceiling default, even without
that, that's why it's a littleiffy as to what it is. It
depends on what data you want tolook at as it comes in. Now,
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as far as this debt ceiling goes, the only thing that yeah,
it's I looked up the numbers andit looks like if we go into Q
three, right, so the Qthree is July through September. If we
go into Q three and we've alreadydefaulted, it could have an impact of
six point one percent on our GDP. That is insane. That's one point
five trillion dollars that could happen bythen. Now, if we just go
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into it a little bit, it'sstill point six percent GDP. That's if
we have a three to five weekdebt ceiling default, and even point six
percent hit is front page end ofthe world high headlines. Well, yeah,
because right now, look, it'sthe cost of ensuring our debt our
treasuries. It's already gone up justbecause of the iffiness what's happening right now.
If we go into that new area, then we're going to see the
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costs of ensuring our debt go wayup. Then we're gonna see our credit
rating drop, which means, ofcourse, you know, those costs up
two. SMP dropped US about tenyears ago to double A, and now
other credit rating agencies are considering thesame kind of move. Yeah. And
it's interesting to know that the economy, the value of US bonds, for
example, and selvium, is determinedby private companies that determine the value of
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the US economy. Yeah, whichis kind of interesting when it comes to
selling bonds. Yeah. The Moodiesis the one that we watch. SMP
is the one who downgraded US.Moodies is now has US on a watch
list for possible removal from Triple A. So is this the reason why every
single FED office has a dartboard init with a really big bulls eye.
Yeah, and the numbers going upand around. Yeah, it's predicted these
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tax receipts is not easy business.Now pay TV it's I just there was
a story on how much ESPN ischarging for being on platforms, and I'm
paying for that, and I meanI'm paying I don't know, ten twelve
bucks a month maybe, and Idon't watch ESPN, right, the last
(30:30):
thing I do is watch sports,maybe curling during the Olympics. Okay,
I'll buy that, but I don'twant to pay it. And we're close
to me saying i'll buy I'll buya platform without a ESPN. So explain
how that works. Well, thisis a great unbundling rebundling that's happening.
So the streaming the services that wehave right now, there are too many
competitors in the marketplace. This isfascinating to watch. I think this year,
(30:52):
for the rest of this year intothe beginning of next year, this
is gonna be the year of chaos. There's gonna be wheat and chaffs operation.
That's happening here now. Disney isvery well positioned with Hulu, and
Comcast has a new offering called Nowthat came out on Tuesday, and their
their Peacock service is top tier aswell. And then you've got YouTube TV
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in the background that offers unlimited DVRand other channels as well. So you're
talking about the carriage fees for ESPN, that is that is the big dog,
right, So if if they don'tgo linear, if they move there
what they call premium content, they'rethey're Daily Sports Center and those kind of
shows live television, if they movethose to streaming, well that that really
is the that's the death knell forfor what's happening as far as linear television
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goes. So we are going tobe at a point where we literally have
our menu and we choose the show, and we choose the platforms a la
carte. Yes, quite a lot. I mean I haven't had ever since
I left NBC and I didn't getComcast anymore for free I started doing this,
right, So I have different Ihave I have Hulu, uh and
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Disney Plus. Now we have ParamountPlus as well, and I think we
have BritBox, which I've had fora year, we're not going to renew.
But that's the thing. People willdrop in and drop out of different
subscriptions as they move forward, whichis why the fight for content is so
big. And the next domino tofall there is the cost of contact with
AI, because AI is basically goingto take content creation to almost bare minimum
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levels when it comes to creating newand fresh content swimming around the same time,
I assume it's also going to tellme how often I watch programs on
one of the streaming services and sayyou're spending too much money or you should
try this. Yeah, I mean, it's just every time I come up
with something, AI changes all ofit, right, And well, there
(32:43):
are apps out there to help youwith your subscriptions, because they do.
There are some nefarious things that happenwith certain apps where they just auto renewed
and they don't tell you about it, and so you have to go searching
and things like that. When I'mtalking about a real deep, deep level.
Yeah, yeah, you know,it's like credit card information, which
already have all the information, soit doesn't matter. But here's the other
question about these pay programs or payplatforms, is it's constantly changing you buy
(33:10):
one and you get HBO Max.That's the separation we're going to be seeing,
right, yes, and it's alwayschanging. Yeah, and I think
that I think we're gonna start seeinga gelling around this now. Don't forget
Hulu is owned by Disney and Comcasttogether, and the rumor is that Disney
wants to be able to fold ESPNinto Hulu and buy out Comcast steak.
I think Comcast is showing us thisweek that they see that coming, which
(33:32):
is why they're jazzing up their Peacockslash now TV. And all this goes
back to fast TV, which isfree ad supported television Fast TV. And
this is where you know Netflix fortwenty years built said they would never run
ads until they did about a yearago they said they were gonna start running
adds again. So how Netflix goesis how the rest of the industry is
going to go. That's why I'mfascinated with this space. Yeah, the
(33:54):
thought of can you imagine before cablecame in, before or streaming services came
in, before Netflix went to streaming, and it was simply you you bought
the CDs. If I were totell you you are going to pay for
the privilege of watching TVs or watchingTV with commercials. You go, what
(34:15):
are you out of your mind?Yeah, but they have they have such
a treasure trove of data around theirviewers, they know how to customize these
ads coming in. We're back tothe AI point two because you've seen that
just this week Photoshop added an AIfilter to itself. So that's a subscription
right there. So people are goingto be generating more and more content for
(34:36):
a lot less money, and they'regoing to be able to super micro target
it for the right viewers. AndNetflix is charging sixty five bucks per thousand
impressions. That's huge. Now ifthey can keep that going and others can
find that money and advertisers willing topay sixty five cpm, that's a game
changer right there. Again, Socarriage fees will become almost minimal, especially
if you see ESPN move out ofthe cable bundle and linear TV start to
(35:00):
circle the drain even faster. Yeah. I don't even know how much I
spend a month. I know it'shundreds of dollars a month. I really,
I'm so upset about it that Ijust write the check. And one
of the YouTube TV is where Igo to for local stations, et cetera.
And you're right. For some reason, I go to CNN is one
(35:20):
of my go tos. I alsoBBC, at a few others in Fox,
etc. CNN. I wake upin the morning and I turned that
on to find out what's going on, and I get ninety seconds of content,
and then five and a half hoursof five and a half minutes of
commercials, then ninety seconds of content, then a number another five and a
(35:42):
half minutes. Well, they're incommercial television. There's worse problems to have,
right than a spotload that that that'sheavy. There could be KFI.
Oh yeah, Oh, I can'tsay that. That's the horrible thing to
say. Okay, let's quickly moveinto a different direction before I get an
email from someone there. And thatis home improvement boom. When you're talking
about home depot and lows and howwell they're doing, and everybody was building
(36:06):
and repairing, gone, gone,gone. Yeah, this is a cycle
that's going to repeat too, becauseeverybody did it during COVID. Everybody it
was updating their homes because they werestuck in their homes. So those updates
are not necessary for the next Idon't know, say five to six years,
and then people will go through itagain. So this boom bust is
going to be a long tail whenit comes out of COVID. I think,
because you got have to think aboutthe knock on effects. If you
(36:29):
see home Home Depot and Lows godown in their demand, well, the
knock on effects are for contractors thathelp, and for raw materials that need
to be bought as well that youcan't necessarily get at home depot all at
once, heavy equipment and trucking.So this was This is something that we
always watch in macro economics, theseretailers because it shows the demand and it's
(36:52):
cooling off, which is why therecession talk remains high. Yeah. I
would think though, when you havea Lows or a Home Depot or any
major home movement store, they andCOVID has exploded the entire market. They
have to plan that COVID is goingto end, and then they have to
figure out how they're going to sell, and it seems like they don't or
(37:14):
am I missing something? No,I don't think you're missing anything. I
would I would have thought they wouldhave come up with new products and programs
to keep people on a recurring revenuestream. So they get people in the
door that want to do their stuffduring COVID for their house. Right,
Well, how do you retain thosecustomers? Will you find them? You
give them a rewards program or somethinga little bit better. Now, they
did have a little bit of that, but not enough to keep it.
And it's proof. It's in thepudding. The earnings reports both say things
(37:36):
are slowing down moving forward as well. All right, Jason, it's this
Sunday coming up, yes, ortwo to four pm. You also hear
Jason all over the station because healso ams to be a newsman extraordinaire.
The reason I say that is hewrote it right there on the intro sheet.
I have a question for both ofyou. From where did the phrase
proof in the pudding come? Oh, that's a good one. I'm good
(37:59):
to guess it's a name whole thingbecause I've been reading a naval book,
you know, under the weather,under the weather's navel because they used to
put six sailors below the deck sothey couldn't see the sunshine or the rind
of the rain. Or I thinkthat's what under the weather comes from.
I know where rule of thumb comesfrom. That's a fun one. Yeah,
that's not great. That is commoncommon law says you can beat your
(38:19):
wife with a stick as long asit's snow bigger than a thumb. Is
that true? Yes? Absolutely?Oh my, that's the rule of thumb.
All right, let's not use thatone anymore. All right? Did
you find out what the proof andthe putting one was? No? I
was literally just ask guys, Yeah, okay, I don't have a laptop
in front of me. I willreport back soon. It is an expression
that means the value, quality,or truth of something based on blah blah
(38:43):
blah. It's an alteration of anolder saying that means make it a bit
clearer. Okay that they did noclearer. Thank you that that helped a
lot. There was I want toa couple of things I want to put
together here, and I'm gonna wrapit up because it seems like there's three
distinct stories here, but they reallydo a wrap up together. First of
all, And I don't know whenthe Democratic Convention we're talking about, where
(39:07):
do you remember Chris Reeves came out? There was a video of him coming
out and walking. He was,you know, former Superman and there,
and he was paralyzed. He wasquadriplegic. He couldn't move. He was
in that wheelchair, I mean,the ones that with the back brace and
(39:28):
the head brace. I mean,it was really screwed up. And the
video showed him walking on stage.It was a video and it just showed
him walking, and he was walkingwith very stuttered steps and having a hard
time walking, but making a fewsteps. And of course people thought this
was for real, and it wasn't. It was a promo piece for the
(39:51):
Democratic Party was going to spend money, or as much money as possible on
the research regarding this spinal cord injury. And it went across the country and
phone calls were made in medical centersall over the place. That was not
real. Okay, that was apiece of propaganda, if you will.
It was just a piece of videoto help the Democratic Party. Now,
(40:17):
yesterday I saw on the news astory out of Switzerland. Not Tina Turner
living in Switzerland and dying, butit was a story of a guy doing
the same thing, walking very slowly, tentative steps, could barely move.
He was on those crutches that youput your arm through and you hold on
(40:38):
too and he was barely moving.Now it turned out that he had been
in a wheelchair for ten years andhe had gotten into an auto accident,
actually a motorcycle accident, and hisspinal cord was severed or cut through at
the point where the lower extremity becamedead, became paralyzed. And what science
(41:05):
was able to do is through AIthey were able to implant a spine an
electric signal going up to his brainand bypassing that area of injury and creating
a bridge. And the way hewas able to walk is he thought that
(41:30):
he could walk. It was brainwaves that made it happen. And that's
the first time anything like this hashappened. And they interviewed the doctor and
it was I mean, this isthe wave of the future where spinal cord
injuries, where people who are paralyzedbecome quadriplegic, paraplegic can walk if you
(41:52):
can imagine that, even walk upstairs. Now it's very early days and we
are looking at I mean, thisis considered a breakthrough, a real breakthrough.
(46:00):
M CAF fight AMZI forty live everywherehandle here on Thursday morning, May
(46:46):
twenty five, as we end theprogram and a couple of stories that you're
gonna hear about all day long.Tita Turner died yesterday to eighty three,
and you'll hear O bit after ohbit because what an extraordinary woman she has.
Also, well, Rhonda Santis officiallyannounced his very glitchy announcement for president.
(47:07):
Did that with Elon Musk on Twitter. Didn't work so well, and
we're still looking at a debt limitdeal with President Biden and Kevin McCarthy.
Now, I just did a segmenton artificial intelligence and some real miracles in
the medical world, one of thembeing something going to happen out of Switzerland
(47:29):
where, through the use of AI, the scientist, the neuroscientists actually got
a paraplegic walking by building a bridgeover the injured spinal cord and into the
brain and literally the brain gave instructionsto the footpoot to his legs and feet.
(47:52):
But this was done through AI becausescience has never been able to figure
this out. So let me tellyou what's going on with chat GPT.
This was at the University of Texasin Austin, and neuroscientists there a figure
out a way to translate scans ofbrain activity into words using AI, and
(48:13):
this was using the same AI thatchat GPT uses. And what this one
is about is people who have lostthe ability to speak will have the ability
to speak, will revolutionize that.And I'll think about this. Someone is
let's say they have Alue Garrick syndromeand they lose their ability to type,
(48:37):
they lose their ability to communicate anyway other than speaking. Then they lose
their ability to speak. Then theonly thing that's left is eyeball movement,
which is the last thing. Orblinking, which of course the last thing
that is lost. And there areseveral ways of doing that. You blink
(48:58):
and a cursor goes across us,and you stop at a letter, and
it's very very hard. Now imaginethat you have a the ability for your
brain which is still functioning with LukeGarreas. I make an example here,
you are trapped in at you talkabout a horrific way to exist. Your
(49:20):
mind is functioning as well as itever has, and you cannot move any
part of your body. You aretrapped in your body. Well, big
example of death with dignity. Boy, I tell you I'd be the first
one to line up for that whichyou can't do. But that's a different
subject for a different time. Inany case, what the scientists have done
(49:44):
is taken brain waves and they havethe subject has, in fact, just
through thought, been able to utterwords. And this was all as result
of AI. Now it was alittle bit wonky because you had actually the
(50:06):
assistant professor neuroscience at the University ofTexas. He was the first subject and
so test it on me. Andso he was the first research subject.
And they had to spend time inan MRI machine about twenty hours listening to
audio clips. I don't know ifyou've ever been in an MRI machine.
(50:28):
They're absolutely delightful. They smashed soundat you. They're horrifically loud. But
that's the only way that the scientistscould get detailed views of the brain in
real time, twenty hours worth,i might add. And so the AI
model analyzed the brain and the audiothat he was listening to, because there
(50:50):
were audio clips going on while themachines snapped details, and it was over
and over again, were the sameaudio clips of Actually, the AI program
was able to predict the words hewas hearing just by watching his brain,
and that translated into the first languagemodel, which learned how sentences are constructed,
(51:15):
how humans talk and think, andthey trained the model to analyze the
activity of this professor other volunteers brainswhile they listened to specific words, and
the AI learned enough to predict whatHuth and others were listening to or watching
(51:36):
just by monitoring their brain activity,and therefore could than utter words, in
other words, talking not by youcreating the brainwave to talk, but by
AI creating the brainwave to talk.I mean, this is extraordinary stuff.
(51:58):
This is I love story is aboutwhat's going on with AI. And sometimes
it's a little bit above my paygrade in terms of understanding. So I
try to bring it back to orbring it down to the lowest common denominator,
and that is us. I'm nota scientist at all. I'm certainly
not a neuroscientist, although I playone on TV. Remember that Gal from
Big Bang, The Big Bang Theory? She was what's her name? Penny?
(52:22):
Was that her name? She wasSheldon's girlfriend. Yes, and she's
actually a neuroscientist. She's for real. Oh no, wait, that's myam
B Yeah it but not my ambialicokay, thank you, yeah, yeahs
Blossom. I don't remember what thehell her name was. I forget her
name too, and you know,you know how good I am with names.
(52:43):
But anyway, so what happened wasthat this technology now is being looked
at in the future by people whohave this locked in syndrome stroke victims brains
are functioning, they're not able tospeak. In the AI reading their brain
waves, we'll start conversations and itis the AI that does it. And
(53:06):
now there are some ethical problems.You think, how about getting a confession
from a prisoner, Not that hevoluntarily gives, mind you, matter of
fact, he just shuts up,But the AI goes through his brain and
doesn't tell him what to say.What it does is analyze everything out there,
(53:30):
analyze him speaking, any kind ofactivity that he does, and then
predicts, now, is that possiblyused in court? Of course not,
you know, we're not at thatpoint yet. But you know you're going
in there exposing our deepest, darkestsecrets where we no longer have deep dark
(53:50):
secrets. I mean, every timeI think of where AI can go,
it is scary to the point inthis story, to the point of predicting
what you're going to say saying it, and you really had no control over
that right. Oh wow, justnow, that's a possibility, that's a
(54:15):
theory, except that this proved thatit's right there. All right, we're
done, guys, coming up ourFriday show in the meantime, coming right
up, Gary and Shannon and they'llbe here from nine to one. Gary,
What is going on on your show? Well, we're gonna start with
some of the glitches that played GrandeSantis's big announcement for president. He did
(54:37):
do better in some of the interviewsafter his Twitter space's debut, but we'll
talk about what's going on. Microsoftsays China is literally in the process right
now as we speak, of hackinginto some of our major infrastructure here in
the United States. And we havesome updates on how easy it is to
get booed in an open air drugmarket in San Francisco. Welcome to America.
(55:01):
KFI and KOs t HD to LosAngeles, Orange County
Your listening to kf I Am sixforty the bill Handles show on demand on
the iHeartRadio f K five Am fortyBill Handle Here. It is a Thursday
morning, May twenty five. Someof the bigger stories we are covering,
and that is the debt ceiling votenot going to happen today June first,
(00:22):
next week, and Congress is goinghome for the holidays. They're not even
meeting until next Tuesday. And yesterdaywe heard, in an astoundingly surprising move,
that DeSantis is running for governor andhe was gonna He was doing it
on a Twitter feed from with theElon Musk and it just didn't work.
It just glitches all over the place. The other big news, probably the
(00:45):
biggest that we have seen today,was yesterday's announcement that Tina Turner had died.
And Tina Turner, of course theR and B legend she was eighty
three years old, died in Switzerlandbecause that's where she lived, and there's
a whole story there, just afascinating woman, insanely talented. Her representative,
(01:07):
I guess her PR person issued astatement, Tina Turner, the Queen
of rock and roll, has diedpeacefully. Today, at the age of
eighty three, after a long illnessin her home at kus Nacht near Zurich.
The world loses a music legend anda role model. Now usually you
get this pr you know, justthis pablum about people. This one is
(01:30):
absolutely on point. She made hercrossover. Remember Proud Mary. If you've
ever seen a video of her singingProud Mary, I mean it is electric
and she I gotta tell you herhistory is so fascinating that she started as
(01:51):
a young obviously a young black girlsinging in the church choir. And that's
basically her music career was a totalfluke. And part of it was Ike
Turner, and he's the one thatgave her her name, and he ended
up they ended up getting married andhaving a child, and she became the
star of that duo. I Turnerhad a band and she was I think
(02:15):
sixteen years old when she just Turnerwas at a club and she just asked,
can I sing a song? AndTurner looked at her and said,
oh boy, do we have someonehere. And it was almost like Aeneus
stepping into a role and becoming thebig star. If you ever seen forty
(02:36):
seconds Street. So she grew upshuttling between relatives as a child's or mother
left an abusive father when she waseleven, graduated high school, began working
as a nurse's aide, but goingto these Saint Louis Black Nights night spots.
(02:57):
That's where she grew up. Nomusical experiences outside the choir. And
it was a nineteen fifty eight sitin where she sang that song at the
gig that Ike Turner had at thetime, and he gave a response as
a backup singer, and she gotinvolved with one of the band members and
they had a child and one dayhere we go. Here's the Angeneus story.
(03:22):
In nineteen sixty one of the artistsfailed to show up for a recording
session, so she was drafted takethe lead, You've got to do it,
and that love was that song wasa fool in love. Then the
tap found its way to the presidentof an R and B label, Sue
Records, who then said we've gotsomeone here. Ike Turner said that's Tina
(03:44):
Turner made up the name, andthen they went from label to label and
for ten years she was just bouncingaround. They had some modest hits,
nothing spectacular, and so how didhe become a huge star? Well,
if you remember Phil Spencer, andnot Phil Spencer, I mean Specter,
(04:06):
Phil Spector who looked at her andsaid, Okay, we're going to take
a song and we're gonna make thisas part of the wall of sound,
and it became, if you everheard it, one of the biggest flops
in record history. Tina Turner withher first big, big hit, was
(04:26):
not a hit. It just diedand she kept on going from label to
label and singing. I'm assuming shemade some kind of a living traveling with
Turner. And then came nineteen seventyone Proud Mary Clearance. They covered Creton's
(04:46):
Clearwater. Fogerty wrote that song,John Fogerty and it turned out to be
a huge hit. And then shejust exploded from there. And then she
became a movie star member the Gibsonfilm Thunderdome, Mad Max Thlenderdome. I
think it was where she played thevillainous spectacular sang the lead song to one
(05:11):
of the James Bond films. Andremember the single that was for forty five
days or six months on the fortyfive day roles number one, What's Love
Got to do with it. Justan extraordinary woman. And she met this
record executive, a businessman. Actuallyhe was German, or he is German.
(05:34):
He's still he's still there and theymoved to Switzerland and they've been together
for twenty five years. And it'sit's someone who really, really is going
to be missed because you look atthe talent of this woman, you shake
your head and go, this isextraordinary. And she kept on performing into
her seventies and she looked great.And she reminds me almost a female Mick
(06:01):
Jagger the way she pranced and dancedand the energy that she shows or she
did show on stage. Just awonderful, wonderful woman. One of the
other big ones. And this oneaffects every one of us. Not that
Tina Turner dying doesn't affect us,but this is big time in our pocketbook,
everyday life kind of thing. Andthis is the debt ceiling fight that's
(06:23):
coming down the wire. There isno compromise at this point, there is
no deal cut. June first isthat magic day when the country just runs
out of money. We're in defaultnow, it's going to be incremental.
June first is the worst case scenario. Janet Yelling Treasury Secretary, and she
(06:46):
was former head of the FED,so she's got some credentials. Has said
that if we go into default,which we're going to, if the President
and McCarthy don't cut a deal,then the country doesn't have the ability to
borrow money to pay bills. We'renot talking about the budget coming forward.
We're talking about bills that are owed. And so what does that mean If
(07:11):
the country doesn't allow Congress doesn't allowthe US to keep borrowing money to pay
its bills, that means bills aren'tpaid, like Social Security checks, like
pensions, like Medicare payments. Imean, we're talking something that is well.
I think catastrophic is a legitimate termto be used. So let's talk
(07:34):
about the fight. It is atraditional fight ongoing, and it should be
a fight. I mean, thisis what makes America America, where you
have a political right and a politicalleft. Unfortunately, the political right has
gone crazy right, the political leftnot as much, but the polarization still
(07:55):
takes place. The left has notgone so far left that compares with the
right going right. But you knowwhat, it's happened before. It's happened
when liberals co opted the entire country. And now it's the Republicans. The
Republican fundamentalists, the hard right haveco opted the entire Republican party have co
(08:16):
opted. And this is election.So you can't argue with this. State
legislatures, forget Congress. State legislatureswhere many cases have far more power than
Congress. It's astounding how far rightthey've gotten. Look at some of the
abortion bands. Six weeks before awoman, even though she's pregnant, you
can't have an abortion, but weallow abortions before the six weeks even if
(08:41):
you don't know you're pregnant. Imean, it's pretty crazy stuff. Oh
by the way, if a doctorperforms it nine to nine years in jail,
you think that's going to be aproblem. Of course, if you
murder seven or eight people, it'stwenty five to life and then at least
you have a shot for parole.I mean, go, figure, now,
what's going on? What is thephilosophy? What is the basic problem?
(09:03):
And that is we go down toright wing versus left wing? Right
wing Kevin McCarthy says, we cannotspend more money than we have makes sense
true, because at some point itbecomes insurmountable when you cannot pay your bills
and you have bills that are morethan you make, and you keep on
(09:26):
borrowing and borrowing and borrowing, atsome point it becomes insurmountable. Well,
not with the US government. TheUS government can keep on borrowing forever if
Congress allows it to borrow. AndCongress is stopping it cold because Kevin McCarthy
is saying, you can't spend morethan comes in, and we want a
(09:48):
freeze, no more than last yearor even better, we want to cut
spending. Let's bring the deficit down, because Joe Biden and the and the
Democratic Congress is completely out of control, spending far, far more money,
(10:09):
do you remember, than they shouldon programs that shouldn't be funded. And
these are usually liberal programs, socialprograms. When it comes to defense,
they're fine. But it's a questionof philosophy, that's all. When you
have Democrats thinking that every program,every social program, is great, let's
just spend money like crazy, versusconservatives who say, wait a minute.
(10:33):
You know, not that they wakeup in the morning say let's have children
starve, but say, wait aminute, we can't keep on spending this
money. And you have liberals saying, let these people across the border because
they should have to be given achance. And then you have conservat saying
you're crazy. So you know,it's legitimate discussions. But here is the
(10:56):
utter hypocrisy, and that is KevinMcCarthy saying, we don't want to spend
more money than we come in unlessDonald Trump is president of the United States,
then whatever deficit will gladly fund.How about this a trillion dollar deficit.
(11:20):
How about this, President Trump spentmore money, more money as a
percentage and a deficit than any presidentin history. And that is we're not
talking about pandemic either. I giveeverybody a pass during the pandemic. I
certainly give President Trump at that pointa pass spending billions of dollars on developing
(11:43):
the vaccine, and I give JoeBiden a complete pass on the distribution of
the vaccine and the stimulus package,because America is in deep, deep trouble
under President Trump. As a deficit, every year more money was spent than
during World War Two, where theentire country was at war and the entire
(12:05):
country was on a war footing andborrowing money like crazy and selling treasury bonds
and just going and everybody was onthe same side too. So now because
you have a congressional the makeup ofCongress is democratic by three. I mean,
it's just as by a hair andthere's the democratic president. We are
(12:30):
going to make sure that we don'tspend the money, and we're willing to
say there will be no borrowing unlessyou freeze the budget no more. Or
they're even talking cuts, and it'slegitimate the cuts. I mean, there's
it's real cuts they're talking about.And so you're gonna it's gonna it's gonna
come right down to the wire.And I'll tell you what, if there
(12:54):
is a Republican Congress, there isnow, and a Republican wins. I
think, uh, Donald Trump isgoing to certainly win the nomination. I
guarantee you Kevin McCarthy will go theother way. We spend whatever our president
wants us to spend, and itdoesn't matter if it's trillion dollar deficits.
(13:15):
And I know those of you whoare Trump followers, and you know I'm
not particularly a Trumpist, I wantyou to refute that. I want you
to say that's not true. FormerPresident Trump did not spend more money a
trillion an access of a trillion dollardeficit every year he was in office.
Tell me that's not true. I'dlove to hear that it's gonna go crazy
(13:41):
over the next few days. Yeah, I think June first is gonna come
and go, and we're gonna seenot on June first. But look at
what the markets of doing this lastweek, down hundreds of points every day.
One of the topics that we havecovered, and it's something that is
on the good news side, andthat is the accept of mental illness,
(14:03):
not the acceptance as mental illness,because we like mental illness. That kind
of acceptance. It's acceptance of identifyingand knowing that it's here and whatever stigma
attached to mental illness should go awayand removing in that direction. And there's
a bill that's just been introduced bya state Senator, John Laird, he's
(14:26):
a Democrat out of Santa Cruz andit had to do with PTSD and other
illnesses, any kind of mental illness. And it literally is from work and
it is limited to first responders,firefighters, firefighters, police, other first
responders. And why is that Well, because of the kind of work that
(14:50):
is done, because of the hours, because of what they see. I
mean, ambulance emt s show upat car accidents, you know, in
these fatal car accidents, and theysee just horrific scenes. And this goes
on year after year, and youwould think that mental illness would be part
of that subsequent to that. AndI've heard no I disassociate, no I
(15:15):
compartmentalize. No I can put thataside. Well, the answers, you
really can't. Very few people can. And so and the other thing about
first responders and why this bill isso important, is that first responders are
macho men, maybe even macho women. But for the most part, you
(15:37):
know they're not going to admit I'mmentally ill. I'm a firefighter. Come
on, I'm a cop. Lookat the stigma that is attached to admitting
you are mentally ill. Now,you could have always gone to workers comp
And the rules are pretty extensive too. You have to be diagnosed. You
have to prove that your illness asa result, your mental illness as a
(16:02):
result a direct result of the workyou've done. I mean, that can
be done, and as a matterof fact, the law does allowed it.
But this new bill, which passedthe state Senate thirty five zero unanimous,
and there are Republicans in the stateSenate. I think one point eight
(16:22):
republicans, not many of them,certainly Democrats have a supermajority. Everybody voted
for this, and really what itdoes, it really doesn't extend much.
Those are other bills going in thework, in the works extending the ability
of firefighters, first responders to gethelp programs. What this one does is
simply say, you know Worker's compwhich covers the first responders, Well,
(16:51):
this program that is that is nowin existence only lasts through January first,
Yeah, twenty twenty five, twomore years, and then it expires.
So what this bill does to say, Okay, let's go through twenty thirty
two, give the US giving ustime to expand programs. But I think
(17:14):
the takeaway here is ian we obviouslyon our first responders. I mean,
they have some of the toughest jobsout there, cops putting in their lives
on their line, firefighters rushing intosay burning babies, maybe even you on
a good day, and they reallyhave a tough time and getting them to
remember when it admit there's a problem, going to a shrink and dealing with
there's a problem, and so we'removing in the right direction. And there's
(17:38):
another one, this bill that justcame in extending the extending the coverage until
we get more in coverage right intotwenty thirty two. I want to get
into flying on I mean, Igo away this summer. I'm going to
jump on an airplane, which Ido every summer and sometimes every winter.
I get on an airplane and Ifly. I also go to Las Vegas
(18:02):
to visit my best friend and partner, and so I'm on an airplane a
lot. And one of the thingsI do is I fly coach, and
when I buy enough stuff, I'llupgrade. Alright, So I'm not gonna
scream about business class. I've doneit a few times and it is wonderful.
(18:23):
Most of us fly coach, andmost of us have a miserable time
flying coach. And we know allthe reasons. People are just packed in
like sardines. The peanuts they oh, they don't hand out peanuts anymore because
of peanut allergy. The pretzels they'rehanding out are now stale pretzels because they're
(18:45):
cheaper to buy. And it's justmiserable. And so there was an article
in the New York times written bya in this case a female stewardess as
opposed to a male stewardess. Andit has to do with etiquette. You're
flying, and she has twelve etiquette. Etiquette rules. Okay, I'll get
(19:08):
there. She has twelve etiquette rules. Some are okay, some are,
you know, not surprising, andmaybe one or two were kind of really
I didn't know that, all right, So let's start. Everyone has the
right to recline. That's absolute starter. But there's a polite way of doing
(19:29):
it. Now she talks about slammingback the seat quickly, which of course
really disrupts everything behind you. Youhave spilled drinks, you have laptops,
Fist fights have been caused. Sothe suggestion here is before reclining, look
behind you and nicely ask if thatperson minds, well, two things are
(19:51):
going to happen. If the personis going to say yes, I mind,
that's for starters. I wouldn't evenask. On top of that,
if you really want to be polite, don't lean back. And in reality,
is you lean back, you gainan inch. What's an inch?
Well, certain circumstances an inches alot, But what is an inch?
(20:15):
So you know what's happening. Moreand more people aren't reclining. They're not.
Okay, that works, but notbecause of her rule of etiquette,
clean up after your kids, andno one does that, she says.
We're not mates. We don't haveaccess to vacuums or brooms or cleaning supplies.
So whatever we can do, wesort of clean it up if we
(20:38):
can. But you know you're apig. You ever been the last one
off the airplane or way in theback and you're moving towards the front to
get off the plane nothing but garbageon the seats in the aisles. Yeah,
one of the worst jobs is cleaningthat stuff up. The only worst
job is it used to be we'recleaning up at porno theaters after this.
(21:00):
That was horrible. Didn't have thatjob. By the way, the overhead
bins, as she puts it,aren't your personal Tetris games. The bins
are first come, first served.You don't own the spot directly above your
seat. It's not acceptable to takeout someone else's bag to make yours fit.
Have you ever seen that happen whereyours is crammed all the way over?
(21:22):
And I've never had actually my bagtaken off but I certainly have my
bag where stuff is put on topof, moved, crammed over and so
here let me tell you here's atakeaway, and this may be surprising,
and that is if you can,before you get on any airplane, rent
(21:42):
a wheelchair, go to the frontof the line, never a problem putting
your bags on the overhead bin.Or if you don't want to get a
wheelchair, get a cane. Thoseare cheap. You go to Walmart,
you get one of those collapsible canesand then just move really slowly out in
gimping and guess what I find thatworks beautifully. Otherwise you know you're small
(22:08):
bags under your seats? What apain that is? No one wants to
hear your FaceTime conversation. People dothat way too much. Shut up,
and I've told people, hey stopit. The middle seat if you're unlucky
enough to get middle seat. However, if you're lucky enough to get the
middle seat, you get both armrests. Now, did you know that that
(22:30):
is an upgrade? So your armrest, which is about one point two inches
in with you get to put yourarmrest. If you're going to be a
very heavy person that has a saggyarm you know it actually trapes over the
armrest. Those are always fun tosee. If you have a conversation that
(22:51):
you don't want to hear next year, just put some headsets on. Now,
bring some headsets and just throw themon, and that usually that usually
helps. Here is one that makesall the sense in the world. Keep
your socks on now. No onehas a problem with you taking your shoes
(23:11):
off. I do that all thetime. You know, you want to
be comfortable. There's no room upfrontshoes or bulky. However, according to
this and a lot of people,feet stinks and that's really the first place
where you have this odoriferous odor.And so she says, just do us
(23:33):
all a favor now. But youcan't go a stewart eye. That's many
stewardesses cannot go up and say putyour socks back on. They won't say
that, but just do that.Don't discipline other people's kids. Oh god,
I once gotten so much trouble.Kid wouldn't shut up, so I
started slapping the kid. I mean, granted it was only seven months old,
but still there was so much noise. Use the call button. Wisely,
(24:00):
that makes sense. A few othersdeal with your seating issues before you
get on the plane. Before Ihad my bariatric surgery, I once got
on an airplane and I was coached, and it was it was a two
seater on one row and then threeseats on the other row. And I
was in the two seats section andI walked up and there was someone a
(24:23):
woman who ate must have weighed threehundred and fifty pounds, who had put
the arm rest up and she wasninety percent across both seats. And I
just went to the stewardess because thatwas in stewardess days, and literally handed
her the ticket and says, wheredo I sit? And she just burst
(24:45):
out laughing and they found another seat. But ask upfront, and you don't
have to switch seats. If someoneask you no, no, don't do
it now. They gotta get pissedat you, especially if you have family
members. You're gonna have a littlekids that are flying and they put different
seats because maybe they booked late,and you have a back Again, do
we go to our seven month old? Can I switch with you? No?
(25:08):
You can't the kids seven months youknow it's time for him to grow
up. And the last one isplease please flush. Oh yeah, that's
pretty disgusting. Well, you gotone hundred and thirty people using one bathroom.
You're gonna find one slob there,aren't you? Yes, yeah,
(25:32):
yeah. It is now time formacro with the Jason Middleton Economy, Economy,
where are you? The economy isin the crapper. It's time to
get its macro. Macro with JasonMiddleton on the Bill Handall Show, and
(25:53):
Jason is heard two pm to fourpm on Sunday. His show is Macro
and it's macroeconomics. And uh,the only uh, if you ever took
economics in school, which I did, the only thing that was more complicated
and more difficult to understand than microeconomicswas macro economics. Uh, it is
(26:18):
not easy stuff. Micro academic microeconomics pretty easy. It's your checkbook.
You reconcile your checks when you hadhim. Macro economics is everything big picture
that's going around. So Jason,h big picture and I mean the biggest
picture is the story about the debtceiling and June one as the drop date.
(26:41):
Uh, let's talk about it whetherit really is June one or is
this on some kind of um,what's the word I'm looking for, um
uh, some kind of a aladder effect. There's a word there I'm
looking for. But i'll effect,yeah, I'll do. I'll wake up
in the middle of the night andjust bolt up and start screaming it.
(27:06):
There's a couple of reasons why thishas the latter effect, why it has
so many potential ripples. First,we don't have any experience with what happens
if we move past the X date. The X date floats because of incoming
tax revenues and what not to fundthe government. And that's what Janet Yellen,
the Treasury Secretary, is getting behindwith her calculations and her department.
And don't forget she was also FederalReserve chair for a long time, so
(27:27):
she knows how to look at itfrom the macro economic stool that Jay Pie
sits on right now. But asfar as what he could do if things
come back this way, but honestly, okay, quick, sharp deep recession
immediately happens if we defaults. Hey. One of the things that I was
(27:47):
watching last night is the government.You would think the government knows exactly how
much money is coming in and howmuch money is going out. They really
the government really doesn't know how muchis coming in in terms of taxes paid,
revenue. It's sort of up inthe air, and some months the
government is taking in piles of moneyand spending little, and sometimes it's reversed.
Yeah, it's all formulas, right, which is why economists tend to
(28:10):
be pessimists. They're like farmers thisway because it's hard to predict the future
using the past as your only basis. But that's pretty much what they have
to do when it comes to predictingthe economy, which is why the discussion
about a recession later this year evenwithout a debt ceiling default, even without
that, that's why it's a littleiffy as to what it is. It
depends on what data you want tolook at as it comes in. Now,
(28:30):
as far as this debt ceiling goes, the only thing that yeah,
it's I looked up the numbers andit looks like if we go into Q
three, right, so the Qthree is July through September. If we
go into Q three and we've alreadydefaulted, it could have an impact of
six point one percent on our GDP. That is insane. That's one point
five trillion dollars that could happen bythen. Now, if we just go
(28:52):
into it a little bit, it'sstill point six percent GDP. That's if
we have a three to five weekdebt ceiling default, and even point six
percent hit is front page end ofthe world high headlines. Well, yeah,
because right now, look, it'sthe cost of ensuring our debt our
treasuries. It's already gone up justbecause of the iffiness what's happening right now.
If we go into that new area, then we're going to see the
(29:15):
costs of ensuring our debt go wayup. Then we're gonna see our credit
rating drop, which means, ofcourse, you know, those costs up
two. SMP dropped US about tenyears ago to double A, and now
other credit rating agencies are considering thesame kind of move. Yeah. And
it's interesting to know that the economy, the value of US bonds, for
example, and selvium, is determinedby private companies that determine the value of
(29:42):
the US economy. Yeah, whichis kind of interesting when it comes to
selling bonds. Yeah. The Moodiesis the one that we watch. SMP
is the one who downgraded US.Moodies is now has US on a watch
list for possible removal from Triple A. So is this the reason why every
single FED office has a dartboard init with a really big bulls eye.
Yeah, and the numbers going upand around. Yeah, it's predicted these
(30:07):
tax receipts is not easy business.Now pay TV it's I just there was
a story on how much ESPN ischarging for being on platforms, and I'm
paying for that, and I meanI'm paying I don't know, ten twelve
bucks a month maybe, and Idon't watch ESPN, right, the last
(30:30):
thing I do is watch sports,maybe curling during the Olympics. Okay,
I'll buy that, but I don'twant to pay it. And we're close
to me saying i'll buy I'll buya platform without a ESPN. So explain
how that works. Well, thisis a great unbundling rebundling that's happening.
So the streaming the services that wehave right now, there are too many
competitors in the marketplace. This isfascinating to watch. I think this year,
(30:52):
for the rest of this year intothe beginning of next year, this
is gonna be the year of chaos. There's gonna be wheat and chaffs operation.
That's happening here now. Disney isvery well positioned with Hulu, and
Comcast has a new offering called Nowthat came out on Tuesday, and their
their Peacock service is top tier aswell. And then you've got YouTube TV
(31:14):
in the background that offers unlimited DVRand other channels as well. So you're
talking about the carriage fees for ESPN, that is that is the big dog,
right, So if if they don'tgo linear, if they move there
what they call premium content, they'rethey're Daily Sports Center and those kind of
shows live television, if they movethose to streaming, well that that really
is the that's the death knell forfor what's happening as far as linear television
(31:37):
goes. So we are going tobe at a point where we literally have
our menu and we choose the show, and we choose the platforms a la
carte. Yes, quite a lot. I mean I haven't had ever since
I left NBC and I didn't getComcast anymore for free I started doing this,
right, So I have different Ihave I have Hulu, uh and
(31:57):
Disney Plus. Now we have ParamountPlus as well, and I think we
have BritBox, which I've had fora year, we're not going to renew.
But that's the thing. People willdrop in and drop out of different
subscriptions as they move forward, whichis why the fight for content is so
big. And the next domino tofall there is the cost of contact with
AI, because AI is basically goingto take content creation to almost bare minimum
(32:20):
levels when it comes to creating newand fresh content swimming around the same time,
I assume it's also going to tellme how often I watch programs on
one of the streaming services and sayyou're spending too much money or you should
try this. Yeah, I mean, it's just every time I come up
with something, AI changes all ofit, right, And well, there
(32:43):
are apps out there to help youwith your subscriptions, because they do.
There are some nefarious things that happenwith certain apps where they just auto renewed
and they don't tell you about it, and so you have to go searching
and things like that. When I'mtalking about a real deep, deep level.
Yeah, yeah, you know,it's like credit card information, which
already have all the information, soit doesn't matter. But here's the other
question about these pay programs or payplatforms, is it's constantly changing you buy
(33:10):
one and you get HBO Max.That's the separation we're going to be seeing,
right, yes, and it's alwayschanging. Yeah, and I think
that I think we're gonna start seeinga gelling around this now. Don't forget
Hulu is owned by Disney and Comcasttogether, and the rumor is that Disney
wants to be able to fold ESPNinto Hulu and buy out Comcast steak.
I think Comcast is showing us thisweek that they see that coming, which
(33:32):
is why they're jazzing up their Peacockslash now TV. And all this goes
back to fast TV, which isfree ad supported television Fast TV. And
this is where you know Netflix fortwenty years built said they would never run
ads until they did about a yearago they said they were gonna start running
adds again. So how Netflix goesis how the rest of the industry is
going to go. That's why I'mfascinated with this space. Yeah, the
(33:54):
thought of can you imagine before cablecame in, before or streaming services came
in, before Netflix went to streaming, and it was simply you you bought
the CDs. If I were totell you you are going to pay for
the privilege of watching TVs or watchingTV with commercials. You go, what
(34:15):
are you out of your mind?Yeah, but they have they have such
a treasure trove of data around theirviewers, they know how to customize these
ads coming in. We're back tothe AI point two because you've seen that
just this week Photoshop added an AIfilter to itself. So that's a subscription
right there. So people are goingto be generating more and more content for
(34:36):
a lot less money, and they'regoing to be able to super micro target
it for the right viewers. AndNetflix is charging sixty five bucks per thousand
impressions. That's huge. Now ifthey can keep that going and others can
find that money and advertisers willing topay sixty five cpm, that's a game
changer right there. Again, Socarriage fees will become almost minimal, especially
if you see ESPN move out ofthe cable bundle and linear TV start to
(35:00):
circle the drain even faster. Yeah. I don't even know how much I
spend a month. I know it'shundreds of dollars a month. I really,
I'm so upset about it that Ijust write the check. And one
of the YouTube TV is where Igo to for local stations, et cetera.
And you're right. For some reason, I go to CNN is one
(35:20):
of my go tos. I alsoBBC, at a few others in Fox,
etc. CNN. I wake upin the morning and I turned that
on to find out what's going on, and I get ninety seconds of content,
and then five and a half hoursof five and a half minutes of
commercials, then ninety seconds of content, then a number another five and a
(35:42):
half minutes. Well, they're incommercial television. There's worse problems to have,
right than a spotload that that that'sheavy. There could be KFI.
Oh yeah, Oh, I can'tsay that. That's the horrible thing to
say. Okay, let's quickly moveinto a different direction before I get an
email from someone there. And thatis home improvement boom. When you're talking
about home depot and lows and howwell they're doing, and everybody was building
(36:06):
and repairing, gone, gone,gone. Yeah, this is a cycle
that's going to repeat too, becauseeverybody did it during COVID. Everybody it
was updating their homes because they werestuck in their homes. So those updates
are not necessary for the next Idon't know, say five to six years,
and then people will go through itagain. So this boom bust is
going to be a long tail whenit comes out of COVID. I think,
because you got have to think aboutthe knock on effects. If you
(36:29):
see home Home Depot and Lows godown in their demand, well, the
knock on effects are for contractors thathelp, and for raw materials that need
to be bought as well that youcan't necessarily get at home depot all at
once, heavy equipment and trucking.So this was This is something that we
always watch in macro economics, theseretailers because it shows the demand and it's
(36:52):
cooling off, which is why therecession talk remains high. Yeah. I
would think though, when you havea Lows or a Home Depot or any
major home movement store, they andCOVID has exploded the entire market. They
have to plan that COVID is goingto end, and then they have to
figure out how they're going to sell, and it seems like they don't or
(37:14):
am I missing something? No,I don't think you're missing anything. I
would I would have thought they wouldhave come up with new products and programs
to keep people on a recurring revenuestream. So they get people in the
door that want to do their stuffduring COVID for their house. Right,
Well, how do you retain thosecustomers? Will you find them? You
give them a rewards program or somethinga little bit better. Now, they
did have a little bit of that, but not enough to keep it.
And it's proof. It's in thepudding. The earnings reports both say things
(37:36):
are slowing down moving forward as well. All right, Jason, it's this
Sunday coming up, yes, ortwo to four pm. You also hear
Jason all over the station because healso ams to be a newsman extraordinaire.
The reason I say that is hewrote it right there on the intro sheet.
I have a question for both ofyou. From where did the phrase
proof in the pudding come? Oh, that's a good one. I'm good
(37:59):
to guess it's a name whole thingbecause I've been reading a naval book,
you know, under the weather,under the weather's navel because they used to
put six sailors below the deck sothey couldn't see the sunshine or the rind
of the rain. Or I thinkthat's what under the weather comes from.
I know where rule of thumb comesfrom. That's a fun one. Yeah,
that's not great. That is commoncommon law says you can beat your
(38:19):
wife with a stick as long asit's snow bigger than a thumb. Is
that true? Yes? Absolutely?Oh my, that's the rule of thumb.
All right, let's not use thatone anymore. All right? Did
you find out what the proof andthe putting one was? No? I
was literally just ask guys, Yeah, okay, I don't have a laptop
in front of me. I willreport back soon. It is an expression
that means the value, quality,or truth of something based on blah blah
(38:43):
blah. It's an alteration of anolder saying that means make it a bit
clearer. Okay that they did noclearer. Thank you that that helped a
lot. There was I want toa couple of things I want to put
together here, and I'm gonna wrapit up because it seems like there's three
distinct stories here, but they reallydo a wrap up together. First of
all, And I don't know whenthe Democratic Convention we're talking about, where
(39:07):
do you remember Chris Reeves came out? There was a video of him coming
out and walking. He was,you know, former Superman and there,
and he was paralyzed. He wasquadriplegic. He couldn't move. He was
in that wheelchair, I mean,the ones that with the back brace and
(39:28):
the head brace. I mean,it was really screwed up. And the
video showed him walking on stage.It was a video and it just showed
him walking, and he was walkingwith very stuttered steps and having a hard
time walking, but making a fewsteps. And of course people thought this
was for real, and it wasn't. It was a promo piece for the
(39:51):
Democratic Party was going to spend money, or as much money as possible on
the research regarding this spinal cord injury. And it went across the country and
phone calls were made in medical centersall over the place. That was not
real. Okay, that was apiece of propaganda, if you will.
It was just a piece of videoto help the Democratic Party. Now,
(40:17):
yesterday I saw on the news astory out of Switzerland. Not Tina Turner
living in Switzerland and dying, butit was a story of a guy doing
the same thing, walking very slowly, tentative steps, could barely move.
He was on those crutches that youput your arm through and you hold on
(40:38):
too and he was barely moving.Now it turned out that he had been
in a wheelchair for ten years andhe had gotten into an auto accident,
actually a motorcycle accident, and hisspinal cord was severed or cut through at
the point where the lower extremity becamedead, became paralyzed. And what science
(41:05):
was able to do is through AIthey were able to implant a spine an
electric signal going up to his brainand bypassing that area of injury and creating
a bridge. And the way hewas able to walk is he thought that
(41:30):
he could walk. It was brainwaves that made it happen. And that's
the first time anything like this hashappened. And they interviewed the doctor and
it was I mean, this isthe wave of the future where spinal cord
injuries, where people who are paralyzedbecome quadriplegic, paraplegic can walk if you
(41:52):
can imagine that, even walk upstairs. Now it's very early days and we
are looking at I mean, thisis considered a breakthrough, a real breakthrough.
(46:00):
M CAF fight AMZI forty live everywherehandle here on Thursday morning, May
(46:46):
twenty five, as we end theprogram and a couple of stories that you're
gonna hear about all day long.Tita Turner died yesterday to eighty three,
and you'll hear O bit after ohbit because what an extraordinary woman she has.
Also, well, Rhonda Santis officiallyannounced his very glitchy announcement for president.
(47:07):
Did that with Elon Musk on Twitter. Didn't work so well, and
we're still looking at a debt limitdeal with President Biden and Kevin McCarthy.
Now, I just did a segmenton artificial intelligence and some real miracles in
the medical world, one of thembeing something going to happen out of Switzerland
(47:29):
where, through the use of AI, the scientist, the neuroscientists actually got
a paraplegic walking by building a bridgeover the injured spinal cord and into the
brain and literally the brain gave instructionsto the footpoot to his legs and feet.
(47:52):
But this was done through AI becausescience has never been able to figure
this out. So let me tellyou what's going on with chat GPT.
This was at the University of Texasin Austin, and neuroscientists there a figure
out a way to translate scans ofbrain activity into words using AI, and
(48:13):
this was using the same AI thatchat GPT uses. And what this one
is about is people who have lostthe ability to speak will have the ability
to speak, will revolutionize that.And I'll think about this. Someone is
let's say they have Alue Garrick syndromeand they lose their ability to type,
(48:37):
they lose their ability to communicate anyway other than speaking. Then they lose
their ability to speak. Then theonly thing that's left is eyeball movement,
which is the last thing. Orblinking, which of course the last thing
that is lost. And there areseveral ways of doing that. You blink
(48:58):
and a cursor goes across us,and you stop at a letter, and
it's very very hard. Now imaginethat you have a the ability for your
brain which is still functioning with LukeGarreas. I make an example here,
you are trapped in at you talkabout a horrific way to exist. Your
(49:20):
mind is functioning as well as itever has, and you cannot move any
part of your body. You aretrapped in your body. Well, big
example of death with dignity. Boy, I tell you I'd be the first
one to line up for that whichyou can't do. But that's a different
subject for a different time. Inany case, what the scientists have done
(49:44):
is taken brain waves and they havethe subject has, in fact, just
through thought, been able to utterwords. And this was all as result
of AI. Now it was alittle bit wonky because you had actually the
(50:06):
assistant professor neuroscience at the University ofTexas. He was the first subject and
so test it on me. Andso he was the first research subject.
And they had to spend time inan MRI machine about twenty hours listening to
audio clips. I don't know ifyou've ever been in an MRI machine.
(50:28):
They're absolutely delightful. They smashed soundat you. They're horrifically loud. But
that's the only way that the scientistscould get detailed views of the brain in
real time, twenty hours worth,i might add. And so the AI
model analyzed the brain and the audiothat he was listening to, because there
(50:50):
were audio clips going on while themachines snapped details, and it was over
and over again, were the sameaudio clips of Actually, the AI program
was able to predict the words hewas hearing just by watching his brain,
and that translated into the first languagemodel, which learned how sentences are constructed,
(51:15):
how humans talk and think, andthey trained the model to analyze the
activity of this professor other volunteers brainswhile they listened to specific words, and
the AI learned enough to predict whatHuth and others were listening to or watching
(51:36):
just by monitoring their brain activity,and therefore could than utter words, in
other words, talking not by youcreating the brainwave to talk, but by
AI creating the brainwave to talk.I mean, this is extraordinary stuff.
(51:58):
This is I love story is aboutwhat's going on with AI. And sometimes
it's a little bit above my paygrade in terms of understanding. So I
try to bring it back to orbring it down to the lowest common denominator,
and that is us. I'm nota scientist at all. I'm certainly
not a neuroscientist, although I playone on TV. Remember that Gal from
Big Bang, The Big Bang Theory? She was what's her name? Penny?
(52:22):
Was that her name? She wasSheldon's girlfriend. Yes, and she's
actually a neuroscientist. She's for real. Oh no, wait, that's myam
B Yeah it but not my ambialicokay, thank you, yeah, yeahs
Blossom. I don't remember what thehell her name was. I forget her
name too, and you know,you know how good I am with names.
(52:43):
But anyway, so what happened wasthat this technology now is being looked
at in the future by people whohave this locked in syndrome stroke victims brains
are functioning, they're not able tospeak. In the AI reading their brain
waves, we'll start conversations and itis the AI that does it. And
(53:06):
now there are some ethical problems.You think, how about getting a confession
from a prisoner, Not that hevoluntarily gives, mind you, matter of
fact, he just shuts up,But the AI goes through his brain and
doesn't tell him what to say.What it does is analyze everything out there,
(53:30):
analyze him speaking, any kind ofactivity that he does, and then
predicts, now, is that possiblyused in court? Of course not,
you know, we're not at thatpoint yet. But you know you're going
in there exposing our deepest, darkestsecrets where we no longer have deep dark
(53:50):
secrets. I mean, every timeI think of where AI can go,
it is scary to the point inthis story, to the point of predicting
what you're going to say saying it, and you really had no control over
that right. Oh wow, justnow, that's a possibility, that's a
(54:15):
theory, except that this proved thatit's right there. All right, we're
done, guys, coming up ourFriday show in the meantime, coming right
up, Gary and Shannon and they'llbe here from nine to one. Gary,
What is going on on your show? Well, we're gonna start with
some of the glitches that played GrandeSantis's big announcement for president. He did
(54:37):
do better in some of the interviewsafter his Twitter space's debut, but we'll
talk about what's going on. Microsoftsays China is literally in the process right
now as we speak, of hackinginto some of our major infrastructure here in
the United States. And we havesome updates on how easy it is to
get booed in an open air drugmarket in San Francisco. Welcome to America.
(55:01):
KFI and KOs t HD to LosAngeles, Orange County
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