April 27, 2023 • 53 mins
As the United States is on the verge of a fisfcal crisis, the House passed a GOP debt ceiling bill to increase the debt ceiling. Then, Jason Middleton is back for MACRO! The banking crisis may have set the stage for an IPO comeback, new home sales have risen for the 4th month in a row, GM is set to discontinue production of its popular EV and speaking of EV's, electriv vehicle sales are booming in California. And Mo Kelly comes on for Musings with Mo! He and Bill talk about the Tucker Carlson and Don Lemon firings and reflect on the life of Harry Belafonte, who passed away earlier this week at the age of 96.
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Transcript
Episode Transcript
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You're listenings kf I AM six fortythe bill Handles show on demand on the
iHeartRadio f KFI AMI forty live everywhereon the iHeartRadio app bill Handle here Thursday
morning, April twenty seven. Acouple of things are going on that we
are covering. First of all,the prep former President Trump loses his appeal
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to block former Vice President Pence fromtestifying about direct communications that he had with
Pence on January six. And ifyou have if you have bed, bath
and Beyond coupons, the container storeis going to take them, even expired
coupons. So that's kind of bignews. There's a story that broke I
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think yesterday of the day before,and it has to do with something that
we've talked about many times that havebeen the news many times, and that
is the huge in flux of citycounty employees teachers who have molested children.
And then the big settlements come andit's a matter of how many are out
there, Is there just a hugeuptick, or is it that we're covering
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it and we find out that it'sthere, or that you know what,
this is really pervasive. But there'sa story that just broke that is extraordinary
in its depth and magnitude, andthat has to do with this Santa Monica
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employee, Eric Uhler. He wasa civilian employee with the Santa Monica Police
Department, very well known, highend tech guy, and he was volunteer
in what was the Police Activities League, and beginning in the late eighties when
it first started, he worked withboys and girls. It's an after school
program. He often traveled around inpolice vehicles and befriended generation of youths.
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Turns out that for thirty years hewas a sexual predator. Hundreds of young
boys that he molested, that heabused, that he raped using his position,
driving them around in police cars orto unmarked police cars, and they're
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all coming forward. There are twohundreds that have come forward. And it's
you know, I almost dismiss thesecriminals because they're in a different league.
You put them away for the restof their lives. And as I said
yesterday about the murders of the youngboy Avolo, it is a shame and
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a crime that it's the authorities whodo nothing about it knowing about it.
Here when you're talking about Eric Uler, people complained they went to the authorities.
There were sheriff's deputy said there's somethingwrong here, this is not right,
and time after time they were shutdown. Mind your own business.
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There's nothing wrong here. And thisis where I really lay I really lay
the blame, because it's a giventhat we have just horrible human, evil
human beings that live and we haveto deal with them on an individual basis.
Someone gets caught molesting a child,you go ahead and take him or
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herd of court, usually him,and you put that person away. Now
when you have an entire system,governmental system that protects them. For example,
what happened in the Catholic church happenednot so much anymore. I don't
think it does happen anymore, especiallywhen they find out about it. That
is almost as much as a crime. And that's what's happening here Santa Monica.
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And you know what, it comeshome to bite you. The lovely
folks who live in the city ofSanta Monica. Their city is paying hundreds
of millions of dollars for what thisguy did. How's that that work out
for you? How big do youthink the city of Santa Monica is?
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Do you think they can afford athree? Three hundred million dollars hit.
This isn't Fox that could easily affordseven eight hundred million dollars. I mean,
it's not fun, but they caneasily afford it. How about how
about Santa Monica, this municipality,So you think there's gonna be some city
taxes there just it's a horrific story. So as of right now, Santa
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Monicas pay two hundred and thirty milliondollars and it's going to get a whole
lot more. I think Santa Monicamaybe very well filed for bankruptcy. You
know, you can do it.I mean to sippol bankruptcy. Yeah.
The only people they can't go evenstates can go bankrupt. The only organization
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that can't is the federal government thatactually is exempt from going bankrupt, that
banking the federal under federal law.It exempted itself. Well didn't accept itself.
You just can't do it. Everybodyelse go it can go bankrupt.
And we've had him, We've hadWe've had utilities go bankrupt, we've had
city goes bankrupt, stopped and Ithink went bankrupt. Orange County went bankrupt.
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Now one of the big stories that'sin the news this is massive.
And this has to do with thedebt ceiling and the build that's in Congress
right now, not anymore. It'salready passed through Congress, and I mean
squeaked through by just the smallest majority, and Kevin McCarthy did it. And
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it has to do with voting toincrease the debt ceiling. What ends up
happening is two things. When itcomes to end of the year stuff.
One, we spend way too muchmoney, that more than what we have.
We take your checkbook, to takeyour credit card. You have let's
say a five thousand dollars credit limit, you spend seven thousand dollars, Well,
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the bank has to okay the extratwo thousand dollars, or if you
have the ability, you okay theextra two thousand dollars. That's the way
it works with the federal government.All right, so far, so bad.
Now. The other issue is thedebt ceiling. How much money the
government can raise its debt ceiling?What is the maximum it is allowed to
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borrow? And every year or sowe go, sometimes several times a year,
we go over that, and wehave to Congress has to vote itself
the ability to borrow more money that'sthe big one. And if Congress says
no, for example, if thebank says nope, we're done, your
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credit is finished, well you endup defaulting. And that's what's happening with
the federal government. If it doesn'tvote itself the ability to borrow more money
in the way they do it isselling treasury bonds, then there's a default.
And the problem is when America defaults, the entire world trembles. I
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mean, it's catastrophic for our economy. Our credit rating collapses, we go
into a full blown recession, ifnot a depression. The dollar becomes far
less valuable. I mean it ishuge. And Kevin McCarthy is willing to
say, okay, I'm prepared todo that. Now the president is saying,
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give me a clean bill. Inother words, just vote the ability,
just do it without any other politicalconsiderations. This is outside of politics.
Well that not quite, because partof going to and to the trough
and being able to borrow more moneyis the amount of money you spend.
God, I used to remember whentwo hundred three hundred billion dollars deficit was
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astronomical. Now it's a trillion dollarsa year deficit. When Donald Trump ran
and ran his first race against Hillary, talked about Obama bringing the national debt
to twenty trillion dollars and talked aboutthe utter disaster and how America was going
to collapse. Now the national debtis thirty one trillion dollars. A lot
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of it is COVID, but alot of it is just spending. One
of the things that Joe Biden does, he spends money. The Democrats are
not shy about spending money, noteven a little bit. And they will
keep on borrowing and borrowing till themoon comes home. That a phrase.
I don't think so moon coming home. Yeah. Whatever. In the meantime,
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So here's happening with Kevin McCarthy.He finally got his bill through,
his debt ceiling bill through Congress andthen has to go to the Senate and
the President has to sign it,which is not going to happen in the
Senate, and the President will vetoit. And he connected all kinds of
restrictions on spending. And I wantto go through it. But it's a
lot of it as medicaid, alot of it is food stamps, a
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lot of it is taking various entitlementprograms and raising the limit as to how
long you get federal help if youcan't work. I mean, it goes
on the loom, the student loanforgiveness program, I mean, the environmental
programs that the president wants and haspassed. And McCarthy says, we want
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to really cut into those, trulycut into those, and I'm willing to
negotiate. If you give me thosecuts, I will allow Congress to pass
a bill. Well, Congress didwith those cuts, and as they said,
I think the vote was two seventeento two fifteen, a margin of
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two people out of four hundred andthirty five. Now, there were some
Republicans there against this. Why itdidn't go far enough. McCarthy didn't do
enough cutting, And so here yougo, we're playing chicken. McCarthy says,
we're not going to pass a billuntil we get these huge cuts.
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Matter of fact, it passed inthe House, but it includes the cuts.
Biden is saying, you give mea clean bill. There is nothing
attached to it. Like every otherpresident and every other debt ceiling bill in
the history of debt ceiling bills,there's never been restrictions or any kind of
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political attachments to it, and McCarthysays nope. And now we're looking at
sometime in June where the government hasto either go ahead and raise the debt
limit, make it available, giveit itself permission to borrow more money,
or default happens. And the governmentUnited States has never defaulted. Argentina did
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took him ten years to get backten years after the default. And the
United States is a lot more importantthe world economy than Argentina ever was.
So it's now the question is howideological is Kevin McCarthy. Is he prepared
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to take the economy, even theworld economy, in a downward spiral to
at those tax cuts to get thespinning cuts. I don't know is President
Biden prepared, although it's just goingto be a no, it'll it just
there. It is chicken. EitherBiden gets it or McCarthy gets it.
Do you know who died, noidea? Jerry Springer. Jerry Springer died
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apparently he had cancer. Wow,I was just talking to Michelle. I
didn't either dead at seventy nine.You know, he's a very interesting guy.
You know, he was mayor ofCincinnati, the youngest mayor they ever
had. He had he had aPhD in history. I did not know
that. Yeah, No, veryinteresting guy he was. You could tell
he was a smart man, andeven when he was mayor. But then
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when he started doing the show andstuff. I mean I remember once an
interview where the interviewer said, youknow how ridiculous your show is. Everybody
just screaming, and he would encouragea screaming in the fighting. Why would
you do something like that? Andit came back with you ever looked at
my paycheck? Yeah? All right. There is an area a matter of
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fact, pretty close to here atthe station in Burbank, and that is
La Kanyada flint Ridge. And itis this oasis of very wealthy homes.
A matter of the average of valueof a home there's two million dollars.
I mean, these are big lots, very white, obviously, lots of
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money. And La Kanyada flint Ridgeto give you an idea of the kind
of growth that it has. Well, the rest of the state has exploded
in growth. Look at your cityhow much it has it grown? Well?
La Kanyada is right around twenty thousandpeople. Guess what it was in
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nineteen eighty, right around twenty thousandpeople. You know, lack Kenyada is
not moving and growing and growing.More importantly, it's not interesting you moving
there, even if you can affordit. They don't want you there well,
particularly if you can't afford it.Me if you have two million bucks
and houses for sale, okay,congratua issues. But if you want to
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live in moderate homes, if youwant to live in a multi unit dwelling,
if you think in terms of ADUsand I mean all of the issues
surrounding more housing because we don't haveenough of it, it's not going to
happen in La Kanyada. And they'vebeen fighting it and successfully because there are
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a lot of laws out there andgroups are formed. Every time there is
either enforcement of a tax issue ora government issue to force La Kanyada to
meet certain housing standards, the LaKanyada residents fight it. And when the
last group that tried to build amulti family housing in La Kanyata, the
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leader of that group got a deadrat in the mail. Needless to say,
that was done. I mean thecity, I mean the package.
Message couldn't have been clearer. Therewas a city planning commissioner and a public
hearing in twenty thirteen. We likeit the way it is now. So
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the city, of course, youwould think, and it has a reputation
for being fiercely anti development, andit's real simple quality of life versus free
market capitalism. And this is onewhere it's almost counterintuitive because you have the
free market developers who are generally prettyconservative when you think about it, except
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when it comes to, of course, developing property. There is a fight
going on right now. There's aone point three acre lot that has a
Christian science church building on it that'svery old, and there's developers trying to
get hold of this to put upmulti family dwellings, and there is a
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lawsuit going. And this is reallycomplicated stuff because the lawsuit that the developers
are saying, because the city hasnot complied with its own housing rules,
the developers are going to bypass cityplanners altogether and build an even bigger project
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than they asked. And can youimagine the people of lah Kenyada are going
out of their minds with that.And this has to do with a law
put in by under Ronald Reagan whenhe was governor, and that is every
eight years, every community in Californiahas to put forth a plan that anticipates
population growth and anticipates the kind ofhousing and the number of housing that is
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necessary. Now, there are somecounties and cities that have gone forward and
said here it is, and thenthe commission comes back and go that's not
enough. And they go back andforth, and there are a few out
there that just ignore it. It'sas if it didn't happen all it's uh
no, no, thank you.And what can the state do about it?
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You know, not a lot,because there are no there's no teeth
in that kind of a law theypass. Because there are other communities that
have just ignored it, just havingfulfilled the plan, and the state says,
okay, well here's what we cando. We can terminate state contracts,
we can make it more difficult foryou, and nothing has happened.
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Nothing has happened. So as ofright now, the City of La Kanyada
is stopping developers. Although there's onegroup that actually might happen this latest lawsuit
and this latest end around as faras the developer versus the City of La
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Kanyada. But I think the folksat lak Kanyada are going to win because
this fight has been going on fordecades, and what's the takeaway here?
If you're white and rich. No, I don't even say if you're white,
because I don't think they really care. If you're rich and rich.
They want you there. They likethe idea of people having money, and
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they want you to join the fight. You move in, and it's almost
you have to join the crowd saying, you know what, it's good for
me, but it's not good foryou. It's like owning a really nice
house and being well, I havea nice house. You would think because
I've you know, moved up thereand I make a good living. And
I'm one hundred and ninety years oldand I've sold four or five houses,
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went up, great house, greatlot. Totally in favor of ADUs.
I love ADUs, just not myneighbors. I just don't want to see
them. You do it down,you know, go to Jennifer's house,
put them up there on her lot. No thank you. Yeah, well
that's the problem we all, eveneven those people don't want to live at
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my house because my dogs, wellthere you are. They're like, heck
no, yeah, I've dogs thatjust love everybody. It's really pressing.
Okay, uh yeah, I know, I know, Well, they have
to make up for your lack oflove for I have a lack of love
for everything. I like dogs,I'm very much I'm a dog person.
You're so good when I bring Daisy, and I like dogs. Dogs like
me. The fight with Rhonda Santisof Florida and Disney has just hit another
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level. And now it's Disney suingDesantists in the state of Florida. So,
as you know, is a quickbackground here Desantists being insanely conservative.
I don't even know if he reallyis that conservative. I don't know if
he's that nuts conservative, but hecertainly comes off that way because that's his
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base. Do you think Donald Trumpreally cares about gun control? No,
I think it really cares about abortion. No, here's about Donald Trump.
Yeah, that's it desantists. AndI'm not going to argue he's the same
level as Donald Trump. Very fewpeople are. But his politics are such
it's all about the base. Idon't think there's much of a compass that
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he has, at least that's theway I view it. And so what
he did in terms of Disney ishis position. One of his positions is
he hates wokeness or wokeness, andhe has said that, well, Florida
is a place where woke comes todie if you are actually where liberalism comes
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to die. He is ultra conservative. He won in virtual landslide last election.
He's running for president on the rightwing ticket, his base. If
he gets the nomination, he's takingthe entire base with him and it's going
to be a fight between him andTrump. I believe that for the nomination.
So with that being said, whatis the one of the most woke
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corporations out there? And that isDisney. Disney has been at the forefront
of recognizing lbg TQ rights. Itwas one of the first corporations that not
only hired people who were LGBTQ,homosexuals, gay people, lesbians. By
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the way, aren't gay people lesbians? I think so and O and trans
I mean, and we're proud andwas proud of it. You have to
give them a lot of credit forthat, whether you believe it or not.
You know, Mickey, even thoughyou don't see them, Mickey Mouse
has balls. It's real simple.So now Disney is the biggest corporate corporation
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in Florida, seventy thousand people it'sthe biggest employer in Florida, and the
fight is going on. So whatDisney did when it started nineteen sixty seven,
it formed its own special taxing area, it's own Basic County, and
it was a special taxing district inwhich it got the legislature to back them
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up, the Ready Development Organization,and it passed its own laws, building
law, building in safety. It'sDisney. They figured we're going to build
a castle. What they he's buildingin safety? Know about castles? Will
pay for all the infrastructure, buildingthe roads, fire department, water filtration,
I mean, all of that thatmunicipality has normally done. It's its
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own government, and the legislature hasalways been in favor of it. So
now you get to Santists, who'sreally pissed off at Disney, And we're
gonna show you because of the don'tSay Gay law, Because the Santists pushed
this law. Don't say gay isthe name of it. Actually it's not
the name. It is sort ofthe nickname of it. And it says
that in public schools, we don'ttalk about gay, we don't talk about
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any kind of gay rights, wedon't talk about trans we don't recognize that
those people even exist in grades one, two, three, one through three,
and then they extended all the waythrough high school. Nope, they
don't exist those people. Okay,passes. Of course, the conservative part
of Florida overwhelmingly in favor of it, and Disney comes out against it.
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Now, there was a little bitof the CEO saying yes and then saying
no and under public pressure, butbottom line, Disney comes out against the
bill, well, coming out againstthe don't say gay bills, coming out
against Rhonda Santist. If you're awoke corporation, remember that woke comes to
die in Florida. All Right.The fight starts, and what Rhnda Santist
does is invalidates the district that Disneycreated and forms a new one and then
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chooses the five commissioners or members ofthe board of that district. And just
before the state takes it over,Disney cuts a deal with it cuts a
contract with a state de Santists didn'tknow about it, in which a contract
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is created that says we're going tokeep the same power, the same ability
for Disney to control its own destinyfor the next hundred years or next seventy
years, and it's the equation isa little complicated. So it's now there's
a lawsuit De Santists filed against them, saying you don't have a right to
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do that. Disney turns around andfile as a lawsuit against Desantists saying you're
stopping our First Amendment rights. Youcan't do that. This is retaliatory or
just going against us. De Santissays, oh, that's not true.
This is for the public good.And they're screaming at each other. It's
going to go to court. Bothsides have an argument. I think Disney
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is going to win because this pureretaliation. As a matter of fact,
on the floor of the State Houseit was said this is pure retaliation.
They admitted, they admit is it'sa political move and say but we can
do it. So if you rememberearlier, and I don't know if you
were listening earlier, I think wedid this on handle on the news.
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One of the things that DeSantis isarguing is Disney has that special district,
that unique district, which we're goingto undo. Do you know there are
eighteen hundred special districts in Florida,eighteen hundred special taxing districts, cities have
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them, counties have them, municipalities, utilities have them, all have special
taxing districts. So that's one.I can't wait for that one to come
up. And the other thing isthis is where Da Santis maybe in a
little trouble. Remember I told youthat Disney has it's the biggest employer.
Seventy thousand people work for Disney.That's no small amount of money that goes
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into the economy. And what ifDisney. Now, Disney is not going
to pull Disney World, but itcan pull a lot of jobs. Nikki
Hayley just said, hey, cometo our state, we'll take will gladly
take your jobs. And the otherthing unforeseen consequences. How many times have
I mentioned an unforeseen consequences? SoDisney's the Red Creek Development District is dissolved,
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and now the state basically takes itover. And you know who gets
to pay for the infrastructure, themaintenance on the roads, the fire departments,
the utilities. Who pays for allthat infrastructure now is the taxpayers?
WHOA wait a minute, you sayDisney used to pay for that, Yes
they did, And now you're sayingwe have to pay for it, Yes
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I do. Oh Okay, thatsort of complicates things, doesn't it.
And as Santis likes to dress upas aerial at parties, I just want
to make that that's not true.Uh, it sounds that'd be a great
story, wasn't it. Oh mygod, I know that's not true and
(27:15):
immediately made thee google it. ReallyYeah, no, I wish I pray
for that. Okay, that's whattrending. But now we go to Jason
Middleton. This shares the way weknow best how to make money money a
mattress. We're all gonna die.It's time to gets macro Macro with Jason
(27:37):
Middleton on the Bill Handle Show.And uh, Jason, who was heard
Sunday two to four pm right hereon kfive Morning. Jason, Good morning,
Bill. Oh do we have news? Uh, we are at I
guess the beginning of the fight betweenKevin McCarthy and President Biden over the debt
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ceiling. And they're playing chicken,yes, and it is. But this
is this is big chicken. Thesethis is a Costco size chicken. I
mean, well, yeah, it'spumped full of water and ready to rock.
Yeah, So why don't you explaina little bit of what's going on?
And more importantly, what it meansif it goes in one way or
(28:21):
the other, Well, it's toobad. This has become a political football
right now because we haven't seen thissince the Obama administration. Are these are
obligations we've already approved. Congress hasalready passed these. So these are things
that yes, we will pay ourbills basically, and then all of a
sudden, if you don't raise itagain, then you can't go to the
next one. And this would causeif you thought the two thousand and eight
(28:41):
financial crisis was bad, this isyou could put this one on the roids
because this would ripple through the stocks, the bonds, the treasuries, everything.
Our credit rating could get lower,which means our cost of lending would
go up. That's going to havea long tail if it happens, and
it happened once before and it quicklywas replaced after Obama blinked last time,
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which I think politically, and I'mnot a political animal necessarily about this one,
but I think that's what their hopingis going to happen this time too.
But it doesn't look like the presidentright now wants to blink or give
any any sway on this because it'sgoing to stick to them. I was
listening to a more conservative media outleton my drive in this morning, and
they seem to think, and theseare business reporters saying that this doesn't stick
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politically to the Democrats on this one. This will have a longer tail of
sticking to Republicans if they cause this. The Republicans have been hit with,
for example, the deficits, budgetdeficits and voting the government voting itself ability
to pay its spills, right,that has hit the Republicans pretty hard.
(29:44):
Now this this is on a wholedifferent level. Absolutely the last time and
when you talk about out and nowdefault, which would happen, Yeah,
the country with your bills, right, you can't pay your bills now the
way the government pays its spills,it just borrows more and more and more
and more. So at some pointI thought there was a reach a point
that is insurmountable. The problem thatyou can't it's never gonna happens. That's
(30:06):
a valid that's a valid argument.But don't have it now. This has
already been passed. You know what, when an election and then have that
conversation with the budget, I mean, and the deficit. Now it's you
remember when two hundred billion dollar defitswas oh my god, the end of
the world is here. Now it'sa trillion. Our national debt is thirty
one trillion. I mean, atsome point the entire budget of the United
States will go towards paying interest.But that's third world level. That's well,
(30:30):
I mean, that's the way themath works. When a government defaulted
and simply stopped paying its bills,and that which would happen here or if
the national debt is not raised isnot the limit is not going up.
Was Argentina, and it took tenyears for that country to come back.
It went bankrupt effectively, and itribbled through the rest of South America and
(30:52):
a lot of the other world economieswhen that when that default happened, because
everything everything got unstable. It's justlike this little banking cold that we have
right now. We don't want itto turn into a pneumonia, and so
we're trying to contain the banking thing. Imagine that on a scale that's that's
global. Yeah, now I haveto share this with you, by the
way, and jan you'll appreciate thisalso. Uh here we go. I
(31:14):
was just informed by unknown sources,that if sources. If you look at
science alert dot com, uh,the headline is, and I'm not making
this up, throat cancer becoming anepidemic and our sex lives could be behind
it. Now, I would findit far more entertaining if it said colorectal
(31:37):
cancer is becoming an epidemic and oursex lives could be behind it. But
I Am not going to go there. Okay, Okay, this is true.
By the way, is it up? This is the MS? Okay,
just to let you know, right, Okay, is that from screaming
at the top of your lungs?Is that No, it's not. I
(32:01):
I don't know, No, Idon't think so. All right, that's
why I'm a business record exactly.Jason Middleton and it's mackerel with Jason.
He's heard Sundays two to four pmright here on KFI. All Right,
we just talked about the debt SeaLeague but which is a god awful mess.
Now, new home sales are goingup for the fourth month in a
(32:22):
row. I guess that's good news. That is good news. Usually that
when you see an increase in thatsector and you have these talk of a
pending recession, that tends to slowdown that talk a little bit. We're
gonna get a point two five percentrate hike probably from the Fed next week,
and then that's going to be itfor a while. So the thirty
year fixed as of this morning camein at an average of six point eight
(32:43):
seven percent, So it's going togo up to seven or over seven days
getting it close to seven. It'sgonna get. It's not necessarily correlative from
the point two five percent in theFED to a mortgage rate, you do
see a bit of an uptick.I have an interview actually this weekend on
housing affordability, and it talks aboutlike how we calculate those rates. But
it's going to get close to sixpoint nine. The value of homes uh
(33:05):
is it was increasing so dramatically andthen it really slowed down. It did
a plateau for sure, and it'sstill at a plateau or nothing back because
it's not dropping. We don't haveenough inventory. So if there's not enough
to buy, then the prices aregoing to stay up even if you have
a drop in those interested or canbuy put down the ten percent for the
down payment, Even when you havethat, when you have limited inventory like
(33:27):
we have nationwide. It's going tokeep things elevated somewhat artificially. That's what
the mortgage rate thing is supposed todo, is supposed to tamp things down.
So the Fed's plan to bring downinflation includes slowing these things down a
little bit too. Now, wegot other news this morning. I know
you wanted to touch on. I'llgo real quick. The GDP came in
at one point one percent. That'sa full percent slower than we anticipated.
(33:49):
GDP is the growth in most investageproduct, which basically everything we produce and
sell, right, And a goodeconomy, a good strong economy is what
three to four percent sound? Ohyeah, totally? Uh five? When
you hit six seven percent and thenit's too hot, it's too hot,
it's not. And so the sweetspot in an economy is growth of three
(34:09):
or four percent, inflation at threethree and a half percent and lower if
you can yet between two and three. And that is a smooth sailing economy.
Oh so we're close to a recessionat one point. Why aren't we?
Yeah, you are, because technicallya recession is negative GDP, no
growth for the quarter. I thinkwhat we're still anticipating in the majority of
(34:30):
US are a smaller recession, ashort recession later this year, that'll be
that'll complete the cycle from the FED. That will completely give us a restart,
a reboot on the economy starting intonext year, which is just in
time for the you know, presidentialelection. Strangely enough, weird. Yeah,
it's always weird, isn't it whenthe president when you have a new
presidential Okay, let's move over toEV sales. A couple of stories,
(34:55):
one being the number of EV salesin California across the board, and how
many there are if you drive aroundand I'm particularly looking at Tesla's that I
see because they're fairly easy to spot. No one has license plates on the
front. Just doesn't exist, eventhough it's law that you have to.
(35:17):
And the reason I look at themis because I want to roll down my
window and yell at every one ofthose drivers saying, don't you hate this
car like I do? Right,Tesla's going to produce what one point four
one point five million units this year? I mean, that's an extraordinarily,
it's a it's a company that evenafter dropping prices four times or five year,
(35:42):
still makes buckets of money. Ohyeah, totally the margins are still
very high what they're going for herewith the sale price, the MSRP if
you will coming down so much asscale they're looking to get in because there's
another car that I know. Youwant to mention that it's coming out of
the market where Tesla wants to positionitself at that price point that'll give it
scale. Now you said one pointfour to one point five. Yes,
that's what they say they're going tobe able to produce. I don't know
(36:06):
if you have to factor in therecalls that might happen. They're not necessarily
known for their durability when it comesto this, but I will say that
as far as license plate goes,if you don't have one on the front,
they compensate because most of the Tesla'sI see have vanity plates on the
back anyway. Yeah, yeah,if I had to get one, I
couldn't get one that said bad car. I hated mine and I sold it
(36:27):
two weeks after I bought it andwith no miles on it. And what
a dump I took on it becausejust before that, of course, they
lowered their price. Well there's thatfor sure, And I think that other
people are starting to feel that pincha little bit as well, but hey,
that's the cost of doing business.Right now, the EV market is
going to be federally regulated and mandated. They need to be at a price
point. You take the Chevy Boltout of the market, which was on
(36:50):
the lower end of the cost,somebody's got to fill that need, so
water goes to the bottom. Tesla'slooking to hit that price, all right.
So GM is ending the Chevy Voltand it's a popular car. Oh
yeah, I mean it does reallyreally well. Why would a company stop
production of a car that's doing greatin this one? It has to do
with the technologies outdated. The batteriesin them just aren't up to code,
(37:13):
well not code, but up toexpectations in the marketplace. So they're going
to have to redo their battery technologyand this will let them move away those
resources that they're putting into that inthe capital investment and move it over here
to a couple of other models thatthey can get to the market quicker.
All right. Talking about the technology, and at one point it was Tesla
that had the only technology that enableda car to have a mileage of two
(37:37):
hundred and fifty three hundred mile range, right and exactly, and people,
if I'm not mistaken, car companieswould take that technology and Tesla would license.
Said yeah, now today everybody hastheir own right, But isn't isn't
it the basic same technology? That'sa bit above my pay grade when it
(37:58):
comes to it. But I thinkwhat the licensing you're talking about bought them
time to make their own investments intheir own R and D, the research
and development budgets that they needed toget there. Now, of course you've
seen recently speaking of batteries and recycling, Apple is going to start recycling.
It's cobalt, which gives you anidea of the rare earth minerals that are
often used in these batteries. They'retrying to find alternatives to those, yeah,
which come from China for the mostpart, I mean in Central Africa.
(38:21):
I mean it's well, the problemwith China, of course, is
that even to the point now,I mean, the worst financial hit that
we've ever experienced. To show howlow our relationship is with China, they
took back their panda panda left theUnited States after twenty years, either Yang
(38:42):
or Yang or Ping or Prong,whatever they held the name of that panda
was yeah, I mean it's itshows how miserable it is. So in
terms of the EV market, Imean everybody is coming into the market,
I mean just everybody. Tessa usedto own that market, yes, and
even at the higher price points.Yeah, and so mostly in California,
(39:04):
let's be honest. Yeah. Yeah, you go to Orange County, go
to Ala County, every other carbecause I am looking out for them,
every other car. Yeah, it'sall at Tesla. I mean it's amazing.
So what's going to happen? Whatis the forecast? Is Tesla going
to well, certainly have to movelose market share because more people are coming
in. But the future for Tesla, what are we hearing? It seems
(39:27):
very stable. I think that theinitial reaction to the earnings report was,
look, our profit margins is goingto be smaller now, so we have
to get used to that as investors. Joe, So, I mean,
that's just that's just a new worldorder. And you're right, when more
competitors come into the market, it'sgoing to be sharp elbows for a while.
But that seventy five hundred dollars rebateyou get from the federal government helps
that too. Yeah. Well,so Tesla unfortunately has to make only five
(39:50):
times as much as any other carcompany in terms of profit instead of ten
times. Investor expectations are a weirdworld, they really are, all right,
Jason Sunday two to four or pmevery Sunday right here on KF I
have a good one, Jason.Now it is time for Mo Kelly mood
morning. Good morning Mo. AndI was just about to pitch your show
(40:12):
Monday through Friday seven to ten pmevery evening, and so now it is
time for Mo Kelly. I lovehow you say that. That's good.
Well, that's all right. I'vedone it twice. All right, Good
morning MoU. The big, huge, insane story, at least in the
world of media is the Tucker Carlsonstory and how two days after he was
(40:36):
canned, I mean, he wenton the air or on he went on
I think it was an Instagram orTwitter, and he posted or he posted
his little diatribe about how both partiesare a bunch of liars. I mean,
it was just completely crazy. What'syour take on this and what's happening
with the industry cable news specifically,Well, certain things have not changed,
(40:58):
and one thing which has not changedhis no singular entity or personality is bigger
than the network that he or shewas on. We can talk about Tucker
Carlson today, but we can goback and talk about Glenn Beck, Makan,
Kelly Bill, O'Reilly Shepherd Smith.And after they've lost a left Fox
News, they have not commanded thesame type of audience after that. Now
(41:19):
will that be the same case withTucker Carlson. We shall see. But
Tucker has made it very clear thathe has not phased, at least publicly,
surrounding being let go of this mutualparting of the ways. However,
it's want you want to characterize it, and he does have plans to still
have a place and a voice,and not only media but also the political
space. There have been rumors abouthim possibly running for president. I don't
(41:43):
know how real those rumors are,but he's definitely going to have a presence
leading up to the presidential election.I mean, you know, the guy
is the darling of the far right, and some of the stuff he's done
is just downright nuts. Just readingan article in the New York Times at
the Fox to get executives at somepoint had to just give up the ghost
(42:04):
and toss him because it just cameout just a couple of days before the
even night before. Some of theemails were so offensive that he wrote that
we don't even know that they werein there. And then credibility too,
I mean, what happened. KevinMcCarthy releases or gives to him all of
the video that the house had,and he actually goes on the air and
(42:28):
show it, says it was apeaceful demonstration, there was no overrunning of
the capitol, and he has videosof people calmly walking, and I mean,
where's the credibility there. I don'tthink credibility is an issue in the
terms of why he left. Ithink it's more about liability and legal exposure
potential. His former ex booker andex producer, Abby Grossberg already has a
(42:49):
lawsuit which is filed at which he'sa named party as well as other Fox
executives as far as a hostile workenvironment and also suppose anti simmit and other
issues within the workplace. And thisis coming on the heels of the Dominion
lawsuit. And there's also the SmartMadic lawsuit. And Abby Grossberg has at
least ninety recordings that she has recordedwhile in there. While in the employee
(43:13):
of Fox News, which have yetto come out in large part, so
I'm quite sure Fox News made thecalculation that if something should come out damaging
beyond those emails which you reference,they have at least a little bit of
safety in a sense of, well, they can say that, well we
fired him, or he's no longeran employee of the company. Did Is
he going a Newsmax? You thinkor I don't think so. I don't
(43:34):
think so. I think there's probablysome sort of non compete clause in there
which has been hashed out long beforethis moment, which would preclude him going
across the street to Newsmax or oeN. That's first thing. And I
don't know if either those networks havethe cash truck to back up to give
Tucker Carlson what he would be demanding. Yeah, it's probably true, and
I'm assuming that as long as theypay him for the rest of the contract,
(43:58):
then you know, he is precludedfrom walking across the street. I
mean, he's gonna right, He'sgonna do Okay. Megan Kelly did just
fine with the attorney that she hires, same attorney everybody hires. It's a
that's a good gig. So whatis Fox great to do in terms of
that space? And I'm talking aboutmore so than just right now. There's
(44:19):
a there's a filler going on,you know, all right, just to
keep it going with other hosts doingthe rotating business. What do you think
Fox is going to do another personality? Yeah, past this prologue. I
would think it's predictive of the future. In the way that Tucker Carlson wasn't
a really known quantity or a belovedquantity when he kind of slid into the
spot and then slid into Bill O'Reilly'sspot. I could see a Jesse Waters
(44:43):
or someone like that eventually taking afull time. But Fox promotes the brand
more than any individual personality. Andthat's why Fox has done so well and
has lasted for so many years,because they understand what how to butter their
bread. All right? So,mo, are we ed to b seeing
you on Fox anytime soon as oneof the contenders. Look, I always
(45:04):
say bye. They know how toreach me if they want me, they
know how to call me. No, seriously, I go where I'm asked
to go. Uh yeah, No, I've seen you on various sources,
not usually you don't do too muchof right wing stuff. But that's not
true. Bill, Oh, Ididn't know. I've done Owa and a
number of times. I didn't knowthat. Yes, I did not know.
I know you do a lot ofstuff all over the map, but
I didn't know that. Heymo.Do you want to come on wake up?
(45:27):
Call it five oh five p m. See okay, he will I
tell truth? All right? Thatis true he had. Now let's move
into and someone you've met someone youcertainly know a lot about Harry Belafoni.
And usually we overuse the word iconic. I mean everybody's iconic. But in
(45:49):
his case, uh, that's thetruth. Harry Belafoni just died, and
so let's share about some information,some some musings about that. Well.
I had been in his presence sixor seven times. It's spent a lot
of time around him, just inmy last job working with Tavis Smiley,
so he would frequently come through forinterviews, dialogue, sitting down. He
(46:10):
was very accessible and he's one ofthose people even though he wasn't of tallest
stature, he was about maybe sixone or so, but his presence,
going back to being an icon wouldjust fill up the room. He was
revered in such a way that fewpeople are. And although people may know
him as a musician, a singer, and they may know him as an
actor and an activist, they don'tnecessarily know the depths in which his activism
(46:36):
went. I mean, he intimatelyunderstood the power and role of Hollywood,
specifically in shaping the civil rights movement. People may not know he was one
of the principal planners of the Marchon Washington for Jobs and Freedom back in
sixty three. That was the whereDoctor King gave his I Have a Dream
speech, And for that speech,specifically, Harry Bellefonte charted a plane to
bring in people like Charlton Heston,James Garner, like from the Rockfords,
(47:00):
Rita Moreno, Marlon Brando, becausehe believed fundamentally that Hollywood could evangelize and
people needed to be able to seewhat was going on that sea of people,
and they weren't brought in to beseen or to be celebrated, but
just so they could see the humanityof African Americans and also speak about that
when people would later ask them intheir own interviews. Yeah, one of
(47:21):
the things. I mean, youlook at the I have a dream speech,
and there he is, and atmany of the marches, there he
is. And I was a hugefan still in he brought Calypso music and
just loved that music. He boughtthat genre to America. But let me
ask he is not one or wasnot one of those singers whose career went
(47:44):
on forever. Frank Sinatra, forexample, saying until twenty minutes before he
died. He ended his career fairlyearly, didn't he? Yeah, there
are a couple of reasons. One, he was focusing on a movement.
He had some issues and multiple surgerywith nodules on his throat. If you
listen to him in later interviews,his voice was very gravelly in nature.
(48:05):
I would say it deteriorated where manytimes where you're around him, he didn't
speak much louder than a whisper becauseit was very difficult for him to speak,
even though he was a commanding president, So he was less focused about
becoming personally successful and more concerned withsocietal success. I mean, he was
one of the last contemporaries of DoctorKing. Harry Belafonte more used his celebrity
(48:29):
to forward the movement. He's creditedwith bailing out doctor King when he was
in the Birmingham jail where King wrotethat legendary letter. He was also responsible
for bailing out many of the freedomwriters in the South and recruiting other activists
to the cause. And also therewas a pushback from the civil rights movement
against Harry Bellefonte at certain point,because Harry Belafonte was very, very demanding
(48:51):
of the movement and people in themovement to make sure that they kept their
eyes on the prize and moved thecountry forward as a whole. A good
looking guy too, if you lookat when he was a film star,
which he was, and of coursea singer, and I think his first
hit was Do That he Brought andit just exploded and he became an international
(49:13):
star. Um career stopped. Washe a wealthy guy when he died.
I can't speak to his level ofwealth, but I'm quite sure he was
very comfortable, if only because we'llput his way, he always had enough
wealth to do what he wanted todo, and that was primarily helping others
and helping even to the day hedied the forty of civil rights issues and
(49:35):
justice issues. But I don't thinkhe was wealth centered in any way personal
life. Do you know much abouthim marriage as kids. Yes, I've
been friends with his daughters over theyears, Gina and Sherry Bellefonte. He
was very close to his daughters.In fact, in his last Instagram post,
which is around his birthday, whichis I think March first, he
(49:57):
was I think he was co presentof his declining health and we were saying
how much he loved his daughters andhe was thankful for the birthday wishes.
He was self aware in that regard, but he was very much a family
man. Of course, he wasa man of Hollywood, so I quite
sure there are plenty of stories ofhim as being a sex symbol and icon
in everything which comes with that,But primarily he was beloved to be interested.
(50:20):
I always asked this of celebrities whenI haven't met them, and when
I do, I pay attention tothis. And you and I have talked
about this, and that is washe aware of who he was? I
mean, did he think he wasHarry Belafonte, the international star? Or
was he just a regular guy whohappened to have gone and had this incredibly
(50:45):
good career. Oh I love thisquestion, if only because he was a
quintessential gentleman in every sense of theword. He's a gentle man, soft
spoken, he was always warm,always warm, and accommodating. He was
to always speak to someone younger thanhim because he felt it was necessary to
pass on his wisdom and also histute religion instruction to someone else who was
(51:08):
curious. He often held court,but he never saw himself above anyone else,
not in my presence. He wasa beloved man and I miss him
dearly. That's cool, I mean. And for those people who have never
heard him saying, you would justgo on to YouTube and just put in
Harry Belafoni and you'll hear some ofthese amazingly wonderful Calypso songs that he uh
(51:30):
that he's sang. And then justa quick and the one I know,
the person of personality who is onthat that ILK was, uh, jeez,
my mind has just gone unlis Dondeluis sorry about And here was a
guy who on that same ILK andI was I was like enough to socialize
(51:52):
and hang in some certain circles.He didn't know he was a movie star.
He did not get that he wasa major star are and as I
watched him where we went someplace andpeople would come and go, mister Louise,
can I have an autograph? Hewas more excited than they were.
Hewen, Oh my god, thankyou. It's it's extraordinary. I love
(52:15):
that story and I'm such a hugefan. And how old was he?
Need died like nineties? Right ninetysix? You know what that's you know,
that's a life well well lived,to say the least. Mo,
thank you. We'll do this againas always next Thursday, and then don't
forget tonight seven to ten o'clock.Mo Kelly, The Mo Kelly Show.
You have a good one talks takecare. Yeah, it was good.
(52:37):
Yeah, it's Mo knows everybody,you know when it comes to oh yeah,
yeah, I do you know,yeah, yeah, we used to
hang out together. Also, Iwant to remind you that I am taking
phone calls starting in just a momentfor a handle on the law marginal legal
advice. I'm gonna do it offthe air, although we'll use the calls,
and the number is eight seven sevenfive two zero eleven fifty eight eleven
(53:00):
seven five two zero eleven fifty Startingin just a moment, coming up.
It's gonna be Gary and Shannon,Gary what's happening on the show. Well,
you mentioned the death of Jerry Springer. We're gonna talk more about kind
of the impact that that guy hadon all of tabloid television. Yeah.
Also the latest Tucker Carlson and DonLemon. Both of them made appearances yesterday
(53:22):
one on video one at an awardshow. We'll talk about what they said
and what their futures hold for them. We've got strange science coming up late
in the show. We got asports round up to get to. It's
a it's a full show. You'vebeen listening to The Bill Handles Show.
Catch My Show Monday through Friday,six am to nine am, and anytime
on demand on the iHeartRadio app.
You're listenings kf I AM six fortythe bill Handles show on demand on the
iHeartRadio f KFI AMI forty live everywhereon the iHeartRadio app bill Handle here Thursday
morning, April twenty seven. Acouple of things are going on that we
are covering. First of all,the prep former President Trump loses his appeal
(00:24):
to block former Vice President Pence fromtestifying about direct communications that he had with
Pence on January six. And ifyou have if you have bed, bath
and Beyond coupons, the container storeis going to take them, even expired
coupons. So that's kind of bignews. There's a story that broke I
(00:51):
think yesterday of the day before,and it has to do with something that
we've talked about many times that havebeen the news many times, and that
is the huge in flux of citycounty employees teachers who have molested children.
And then the big settlements come andit's a matter of how many are out
there, Is there just a hugeuptick, or is it that we're covering
(01:15):
it and we find out that it'sthere, or that you know what,
this is really pervasive. But there'sa story that just broke that is extraordinary
in its depth and magnitude, andthat has to do with this Santa Monica
(01:37):
employee, Eric Uhler. He wasa civilian employee with the Santa Monica Police
Department, very well known, highend tech guy, and he was volunteer
in what was the Police Activities League, and beginning in the late eighties when
it first started, he worked withboys and girls. It's an after school
program. He often traveled around inpolice vehicles and befriended generation of youths.
(02:05):
Turns out that for thirty years hewas a sexual predator. Hundreds of young
boys that he molested, that heabused, that he raped using his position,
driving them around in police cars orto unmarked police cars, and they're
(02:29):
all coming forward. There are twohundreds that have come forward. And it's
you know, I almost dismiss thesecriminals because they're in a different league.
You put them away for the restof their lives. And as I said
yesterday about the murders of the youngboy Avolo, it is a shame and
(02:53):
a crime that it's the authorities whodo nothing about it knowing about it.
Here when you're talking about Eric Uler, people complained they went to the authorities.
There were sheriff's deputy said there's somethingwrong here, this is not right,
and time after time they were shutdown. Mind your own business.
(03:19):
There's nothing wrong here. And thisis where I really lay I really lay
the blame, because it's a giventhat we have just horrible human, evil
human beings that live and we haveto deal with them on an individual basis.
Someone gets caught molesting a child,you go ahead and take him or
(03:43):
herd of court, usually him,and you put that person away. Now
when you have an entire system,governmental system that protects them. For example,
what happened in the Catholic church happenednot so much anymore. I don't
think it does happen anymore, especiallywhen they find out about it. That
is almost as much as a crime. And that's what's happening here Santa Monica.
(04:04):
And you know what, it comeshome to bite you. The lovely
folks who live in the city ofSanta Monica. Their city is paying hundreds
of millions of dollars for what thisguy did. How's that that work out
for you? How big do youthink the city of Santa Monica is?
(04:26):
Do you think they can afford athree? Three hundred million dollars hit.
This isn't Fox that could easily affordseven eight hundred million dollars. I mean,
it's not fun, but they caneasily afford it. How about how
about Santa Monica, this municipality,So you think there's gonna be some city
taxes there just it's a horrific story. So as of right now, Santa
(04:51):
Monicas pay two hundred and thirty milliondollars and it's going to get a whole
lot more. I think Santa Monicamaybe very well filed for bankruptcy. You
know, you can do it.I mean to sippol bankruptcy. Yeah.
The only people they can't go evenstates can go bankrupt. The only organization
(05:11):
that can't is the federal government thatactually is exempt from going bankrupt, that
banking the federal under federal law.It exempted itself. Well didn't accept itself.
You just can't do it. Everybodyelse go it can go bankrupt.
And we've had him, We've hadWe've had utilities go bankrupt, we've had
city goes bankrupt, stopped and Ithink went bankrupt. Orange County went bankrupt.
(05:33):
Now one of the big stories that'sin the news this is massive.
And this has to do with thedebt ceiling and the build that's in Congress
right now, not anymore. It'salready passed through Congress, and I mean
squeaked through by just the smallest majority, and Kevin McCarthy did it. And
(05:54):
it has to do with voting toincrease the debt ceiling. What ends up
happening is two things. When itcomes to end of the year stuff.
One, we spend way too muchmoney, that more than what we have.
We take your checkbook, to takeyour credit card. You have let's
say a five thousand dollars credit limit, you spend seven thousand dollars, Well,
(06:15):
the bank has to okay the extratwo thousand dollars, or if you
have the ability, you okay theextra two thousand dollars. That's the way
it works with the federal government.All right, so far, so bad.
Now. The other issue is thedebt ceiling. How much money the
government can raise its debt ceiling?What is the maximum it is allowed to
(06:41):
borrow? And every year or sowe go, sometimes several times a year,
we go over that, and wehave to Congress has to vote itself
the ability to borrow more money that'sthe big one. And if Congress says
no, for example, if thebank says nope, we're done, your
(07:02):
credit is finished, well you endup defaulting. And that's what's happening with
the federal government. If it doesn'tvote itself the ability to borrow more money
in the way they do it isselling treasury bonds, then there's a default.
And the problem is when America defaults, the entire world trembles. I
(07:26):
mean, it's catastrophic for our economy. Our credit rating collapses, we go
into a full blown recession, ifnot a depression. The dollar becomes far
less valuable. I mean it ishuge. And Kevin McCarthy is willing to
say, okay, I'm prepared todo that. Now the president is saying,
(07:48):
give me a clean bill. Inother words, just vote the ability,
just do it without any other politicalconsiderations. This is outside of politics.
Well that not quite, because partof going to and to the trough
and being able to borrow more moneyis the amount of money you spend.
God, I used to remember whentwo hundred three hundred billion dollars deficit was
(08:11):
astronomical. Now it's a trillion dollarsa year deficit. When Donald Trump ran
and ran his first race against Hillary, talked about Obama bringing the national debt
to twenty trillion dollars and talked aboutthe utter disaster and how America was going
to collapse. Now the national debtis thirty one trillion dollars. A lot
(08:35):
of it is COVID, but alot of it is just spending. One
of the things that Joe Biden does, he spends money. The Democrats are
not shy about spending money, noteven a little bit. And they will
keep on borrowing and borrowing till themoon comes home. That a phrase.
I don't think so moon coming home. Yeah. Whatever. In the meantime,
(08:58):
So here's happening with Kevin McCarthy.He finally got his bill through,
his debt ceiling bill through Congress andthen has to go to the Senate and
the President has to sign it,which is not going to happen in the
Senate, and the President will vetoit. And he connected all kinds of
restrictions on spending. And I wantto go through it. But it's a
lot of it as medicaid, alot of it is food stamps, a
(09:22):
lot of it is taking various entitlementprograms and raising the limit as to how
long you get federal help if youcan't work. I mean, it goes
on the loom, the student loanforgiveness program, I mean, the environmental
programs that the president wants and haspassed. And McCarthy says, we want
(09:43):
to really cut into those, trulycut into those, and I'm willing to
negotiate. If you give me thosecuts, I will allow Congress to pass
a bill. Well, Congress didwith those cuts, and as they said,
I think the vote was two seventeento two fifteen, a margin of
(10:07):
two people out of four hundred andthirty five. Now, there were some
Republicans there against this. Why itdidn't go far enough. McCarthy didn't do
enough cutting, And so here yougo, we're playing chicken. McCarthy says,
we're not going to pass a billuntil we get these huge cuts.
(10:30):
Matter of fact, it passed inthe House, but it includes the cuts.
Biden is saying, you give mea clean bill. There is nothing
attached to it. Like every otherpresident and every other debt ceiling bill in
the history of debt ceiling bills,there's never been restrictions or any kind of
(10:52):
political attachments to it, and McCarthysays nope. And now we're looking at
sometime in June where the government hasto either go ahead and raise the debt
limit, make it available, giveit itself permission to borrow more money,
or default happens. And the governmentUnited States has never defaulted. Argentina did
(11:22):
took him ten years to get backten years after the default. And the
United States is a lot more importantthe world economy than Argentina ever was.
So it's now the question is howideological is Kevin McCarthy. Is he prepared
(11:45):
to take the economy, even theworld economy, in a downward spiral to
at those tax cuts to get thespinning cuts. I don't know is President
Biden prepared, although it's just goingto be a no, it'll it just
there. It is chicken. EitherBiden gets it or McCarthy gets it.
Do you know who died, noidea? Jerry Springer. Jerry Springer died
(12:11):
apparently he had cancer. Wow,I was just talking to Michelle. I
didn't either dead at seventy nine.You know, he's a very interesting guy.
You know, he was mayor ofCincinnati, the youngest mayor they ever
had. He had he had aPhD in history. I did not know
that. Yeah, No, veryinteresting guy he was. You could tell
he was a smart man, andeven when he was mayor. But then
(12:31):
when he started doing the show andstuff. I mean I remember once an
interview where the interviewer said, youknow how ridiculous your show is. Everybody
just screaming, and he would encouragea screaming in the fighting. Why would
you do something like that? Andit came back with you ever looked at
my paycheck? Yeah? All right. There is an area a matter of
(12:54):
fact, pretty close to here atthe station in Burbank, and that is
La Kanyada flint Ridge. And itis this oasis of very wealthy homes.
A matter of the average of valueof a home there's two million dollars.
I mean, these are big lots, very white, obviously, lots of
(13:18):
money. And La Kanyada flint Ridgeto give you an idea of the kind
of growth that it has. Well, the rest of the state has exploded
in growth. Look at your cityhow much it has it grown? Well?
La Kanyada is right around twenty thousandpeople. Guess what it was in
(13:39):
nineteen eighty, right around twenty thousandpeople. You know, lack Kenyada is
not moving and growing and growing.More importantly, it's not interesting you moving
there, even if you can affordit. They don't want you there well,
particularly if you can't afford it.Me if you have two million bucks
and houses for sale, okay,congratua issues. But if you want to
(14:01):
live in moderate homes, if youwant to live in a multi unit dwelling,
if you think in terms of ADUsand I mean all of the issues
surrounding more housing because we don't haveenough of it, it's not going to
happen in La Kanyada. And they'vebeen fighting it and successfully because there are
(14:22):
a lot of laws out there andgroups are formed. Every time there is
either enforcement of a tax issue ora government issue to force La Kanyada to
meet certain housing standards, the LaKanyada residents fight it. And when the
last group that tried to build amulti family housing in La Kanyata, the
(14:46):
leader of that group got a deadrat in the mail. Needless to say,
that was done. I mean thecity, I mean the package.
Message couldn't have been clearer. Therewas a city planning commissioner and a public
hearing in twenty thirteen. We likeit the way it is now. So
(15:07):
the city, of course, youwould think, and it has a reputation
for being fiercely anti development, andit's real simple quality of life versus free
market capitalism. And this is onewhere it's almost counterintuitive because you have the
free market developers who are generally prettyconservative when you think about it, except
(15:31):
when it comes to, of course, developing property. There is a fight
going on right now. There's aone point three acre lot that has a
Christian science church building on it that'svery old, and there's developers trying to
get hold of this to put upmulti family dwellings, and there is a
(15:54):
lawsuit going. And this is reallycomplicated stuff because the lawsuit that the developers
are saying, because the city hasnot complied with its own housing rules,
the developers are going to bypass cityplanners altogether and build an even bigger project
(16:17):
than they asked. And can youimagine the people of lah Kenyada are going
out of their minds with that.And this has to do with a law
put in by under Ronald Reagan whenhe was governor, and that is every
eight years, every community in Californiahas to put forth a plan that anticipates
population growth and anticipates the kind ofhousing and the number of housing that is
(16:41):
necessary. Now, there are somecounties and cities that have gone forward and
said here it is, and thenthe commission comes back and go that's not
enough. And they go back andforth, and there are a few out
there that just ignore it. It'sas if it didn't happen all it's uh
no, no, thank you.And what can the state do about it?
(17:07):
You know, not a lot,because there are no there's no teeth
in that kind of a law theypass. Because there are other communities that
have just ignored it, just havingfulfilled the plan, and the state says,
okay, well here's what we cando. We can terminate state contracts,
we can make it more difficult foryou, and nothing has happened.
(17:27):
Nothing has happened. So as ofright now, the City of La Kanyada
is stopping developers. Although there's onegroup that actually might happen this latest lawsuit
and this latest end around as faras the developer versus the City of La
(17:48):
Kanyada. But I think the folksat lak Kanyada are going to win because
this fight has been going on fordecades, and what's the takeaway here?
If you're white and rich. No, I don't even say if you're white,
because I don't think they really care. If you're rich and rich.
They want you there. They likethe idea of people having money, and
(18:11):
they want you to join the fight. You move in, and it's almost
you have to join the crowd saying, you know what, it's good for
me, but it's not good foryou. It's like owning a really nice
house and being well, I havea nice house. You would think because
I've you know, moved up thereand I make a good living. And
I'm one hundred and ninety years oldand I've sold four or five houses,
(18:33):
went up, great house, greatlot. Totally in favor of ADUs.
I love ADUs, just not myneighbors. I just don't want to see
them. You do it down,you know, go to Jennifer's house,
put them up there on her lot. No thank you. Yeah, well
that's the problem we all, eveneven those people don't want to live at
(18:53):
my house because my dogs, wellthere you are. They're like, heck
no, yeah, I've dogs thatjust love everybody. It's really pressing.
Okay, uh yeah, I know, I know, Well, they have
to make up for your lack oflove for I have a lack of love
for everything. I like dogs,I'm very much I'm a dog person.
You're so good when I bring Daisy, and I like dogs. Dogs like
me. The fight with Rhonda Santisof Florida and Disney has just hit another
(19:19):
level. And now it's Disney suingDesantists in the state of Florida. So,
as you know, is a quickbackground here Desantists being insanely conservative.
I don't even know if he reallyis that conservative. I don't know if
he's that nuts conservative, but hecertainly comes off that way because that's his
(19:41):
base. Do you think Donald Trumpreally cares about gun control? No,
I think it really cares about abortion. No, here's about Donald Trump.
Yeah, that's it desantists. AndI'm not going to argue he's the same
level as Donald Trump. Very fewpeople are. But his politics are such
it's all about the base. Idon't think there's much of a compass that
(20:03):
he has, at least that's theway I view it. And so what
he did in terms of Disney ishis position. One of his positions is
he hates wokeness or wokeness, andhe has said that, well, Florida
is a place where woke comes todie if you are actually where liberalism comes
(20:30):
to die. He is ultra conservative. He won in virtual landslide last election.
He's running for president on the rightwing ticket, his base. If
he gets the nomination, he's takingthe entire base with him and it's going
to be a fight between him andTrump. I believe that for the nomination.
So with that being said, whatis the one of the most woke
(20:51):
corporations out there? And that isDisney. Disney has been at the forefront
of recognizing lbg TQ rights. Itwas one of the first corporations that not
only hired people who were LGBTQ,homosexuals, gay people, lesbians. By
(21:11):
the way, aren't gay people lesbians? I think so and O and trans
I mean, and we're proud andwas proud of it. You have to
give them a lot of credit forthat, whether you believe it or not.
You know, Mickey, even thoughyou don't see them, Mickey Mouse
has balls. It's real simple.So now Disney is the biggest corporate corporation
(21:34):
in Florida, seventy thousand people it'sthe biggest employer in Florida, and the
fight is going on. So whatDisney did when it started nineteen sixty seven,
it formed its own special taxing area, it's own Basic County, and
it was a special taxing district inwhich it got the legislature to back them
(21:59):
up, the Ready Development Organization,and it passed its own laws, building
law, building in safety. It'sDisney. They figured we're going to build
a castle. What they he's buildingin safety? Know about castles? Will
pay for all the infrastructure, buildingthe roads, fire department, water filtration,
I mean, all of that thatmunicipality has normally done. It's its
(22:21):
own government, and the legislature hasalways been in favor of it. So
now you get to Santists, who'sreally pissed off at Disney, And we're
gonna show you because of the don'tSay Gay law, Because the Santists pushed
this law. Don't say gay isthe name of it. Actually it's not
the name. It is sort ofthe nickname of it. And it says
that in public schools, we don'ttalk about gay, we don't talk about
(22:47):
any kind of gay rights, wedon't talk about trans we don't recognize that
those people even exist in grades one, two, three, one through three,
and then they extended all the waythrough high school. Nope, they
don't exist those people. Okay,passes. Of course, the conservative part
of Florida overwhelmingly in favor of it, and Disney comes out against it.
(23:10):
Now, there was a little bitof the CEO saying yes and then saying
no and under public pressure, butbottom line, Disney comes out against the
bill, well, coming out againstthe don't say gay bills, coming out
against Rhonda Santist. If you're awoke corporation, remember that woke comes to
die in Florida. All Right.The fight starts, and what Rhnda Santist
does is invalidates the district that Disneycreated and forms a new one and then
(23:41):
chooses the five commissioners or members ofthe board of that district. And just
before the state takes it over,Disney cuts a deal with it cuts a
contract with a state de Santists didn'tknow about it, in which a contract
(24:03):
is created that says we're going tokeep the same power, the same ability
for Disney to control its own destinyfor the next hundred years or next seventy
years, and it's the equation isa little complicated. So it's now there's
a lawsuit De Santists filed against them, saying you don't have a right to
(24:26):
do that. Disney turns around andfile as a lawsuit against Desantists saying you're
stopping our First Amendment rights. Youcan't do that. This is retaliatory or
just going against us. De Santissays, oh, that's not true.
This is for the public good.And they're screaming at each other. It's
going to go to court. Bothsides have an argument. I think Disney
(24:48):
is going to win because this pureretaliation. As a matter of fact,
on the floor of the State Houseit was said this is pure retaliation.
They admitted, they admit is it'sa political move and say but we can
do it. So if you rememberearlier, and I don't know if you
were listening earlier, I think wedid this on handle on the news.
(25:12):
One of the things that DeSantis isarguing is Disney has that special district,
that unique district, which we're goingto undo. Do you know there are
eighteen hundred special districts in Florida,eighteen hundred special taxing districts, cities have
(25:36):
them, counties have them, municipalities, utilities have them, all have special
taxing districts. So that's one.I can't wait for that one to come
up. And the other thing isthis is where Da Santis maybe in a
little trouble. Remember I told youthat Disney has it's the biggest employer.
Seventy thousand people work for Disney.That's no small amount of money that goes
(26:02):
into the economy. And what ifDisney. Now, Disney is not going
to pull Disney World, but itcan pull a lot of jobs. Nikki
Hayley just said, hey, cometo our state, we'll take will gladly
take your jobs. And the otherthing unforeseen consequences. How many times have
I mentioned an unforeseen consequences? SoDisney's the Red Creek Development District is dissolved,
(26:29):
and now the state basically takes itover. And you know who gets
to pay for the infrastructure, themaintenance on the roads, the fire departments,
the utilities. Who pays for allthat infrastructure now is the taxpayers?
WHOA wait a minute, you sayDisney used to pay for that, Yes
they did, And now you're sayingwe have to pay for it, Yes
(26:52):
I do. Oh Okay, thatsort of complicates things, doesn't it.
And as Santis likes to dress upas aerial at parties, I just want
to make that that's not true.Uh, it sounds that'd be a great
story, wasn't it. Oh mygod, I know that's not true and
(27:15):
immediately made thee google it. ReallyYeah, no, I wish I pray
for that. Okay, that's whattrending. But now we go to Jason
Middleton. This shares the way weknow best how to make money money a
mattress. We're all gonna die.It's time to gets macro Macro with Jason
(27:37):
Middleton on the Bill Handle Show.And uh, Jason, who was heard
Sunday two to four pm right hereon kfive Morning. Jason, Good morning,
Bill. Oh do we have news? Uh, we are at I
guess the beginning of the fight betweenKevin McCarthy and President Biden over the debt
(28:00):
ceiling. And they're playing chicken,yes, and it is. But this
is this is big chicken. Thesethis is a Costco size chicken. I
mean, well, yeah, it'spumped full of water and ready to rock.
Yeah, So why don't you explaina little bit of what's going on?
And more importantly, what it meansif it goes in one way or
(28:21):
the other, Well, it's toobad. This has become a political football
right now because we haven't seen thissince the Obama administration. Are these are
obligations we've already approved. Congress hasalready passed these. So these are things
that yes, we will pay ourbills basically, and then all of a
sudden, if you don't raise itagain, then you can't go to the
next one. And this would causeif you thought the two thousand and eight
(28:41):
financial crisis was bad, this isyou could put this one on the roids
because this would ripple through the stocks, the bonds, the treasuries, everything.
Our credit rating could get lower,which means our cost of lending would
go up. That's going to havea long tail if it happens, and
it happened once before and it quicklywas replaced after Obama blinked last time,
(29:03):
which I think politically, and I'mnot a political animal necessarily about this one,
but I think that's what their hopingis going to happen this time too.
But it doesn't look like the presidentright now wants to blink or give
any any sway on this because it'sgoing to stick to them. I was
listening to a more conservative media outleton my drive in this morning, and
they seem to think, and theseare business reporters saying that this doesn't stick
(29:23):
politically to the Democrats on this one. This will have a longer tail of
sticking to Republicans if they cause this. The Republicans have been hit with,
for example, the deficits, budgetdeficits and voting the government voting itself ability
to pay its spills, right,that has hit the Republicans pretty hard.
(29:44):
Now this this is on a wholedifferent level. Absolutely the last time and
when you talk about out and nowdefault, which would happen, Yeah,
the country with your bills, right, you can't pay your bills now the
way the government pays its spills,it just borrows more and more and more
and more. So at some pointI thought there was a reach a point
that is insurmountable. The problem thatyou can't it's never gonna happens. That's
(30:06):
a valid that's a valid argument.But don't have it now. This has
already been passed. You know what, when an election and then have that
conversation with the budget, I mean, and the deficit. Now it's you
remember when two hundred billion dollar defitswas oh my god, the end of
the world is here. Now it'sa trillion. Our national debt is thirty
one trillion. I mean, atsome point the entire budget of the United
States will go towards paying interest.But that's third world level. That's well,
(30:30):
I mean, that's the way themath works. When a government defaulted
and simply stopped paying its bills,and that which would happen here or if
the national debt is not raised isnot the limit is not going up.
Was Argentina, and it took tenyears for that country to come back.
It went bankrupt effectively, and itribbled through the rest of South America and
(30:52):
a lot of the other world economieswhen that when that default happened, because
everything everything got unstable. It's justlike this little banking cold that we have
right now. We don't want itto turn into a pneumonia, and so
we're trying to contain the banking thing. Imagine that on a scale that's that's
global. Yeah, now I haveto share this with you, by the
way, and jan you'll appreciate thisalso. Uh here we go. I
(31:14):
was just informed by unknown sources,that if sources. If you look at
science alert dot com, uh,the headline is, and I'm not making
this up, throat cancer becoming anepidemic and our sex lives could be behind
it. Now, I would findit far more entertaining if it said colorectal
(31:37):
cancer is becoming an epidemic and oursex lives could be behind it. But
I Am not going to go there. Okay, Okay, this is true.
By the way, is it up? This is the MS? Okay,
just to let you know, right, Okay, is that from screaming
at the top of your lungs?Is that No, it's not. I
(32:01):
I don't know, No, Idon't think so. All right, that's
why I'm a business record exactly.Jason Middleton and it's mackerel with Jason.
He's heard Sundays two to four pmright here on KFI. All Right,
we just talked about the debt SeaLeague but which is a god awful mess.
Now, new home sales are goingup for the fourth month in a
(32:22):
row. I guess that's good news. That is good news. Usually that
when you see an increase in thatsector and you have these talk of a
pending recession, that tends to slowdown that talk a little bit. We're
gonna get a point two five percentrate hike probably from the Fed next week,
and then that's going to be itfor a while. So the thirty
year fixed as of this morning camein at an average of six point eight
(32:43):
seven percent, So it's going togo up to seven or over seven days
getting it close to seven. It'sgonna get. It's not necessarily correlative from
the point two five percent in theFED to a mortgage rate, you do
see a bit of an uptick.I have an interview actually this weekend on
housing affordability, and it talks aboutlike how we calculate those rates. But
it's going to get close to sixpoint nine. The value of homes uh
(33:05):
is it was increasing so dramatically andthen it really slowed down. It did
a plateau for sure, and it'sstill at a plateau or nothing back because
it's not dropping. We don't haveenough inventory. So if there's not enough
to buy, then the prices aregoing to stay up even if you have
a drop in those interested or canbuy put down the ten percent for the
down payment, Even when you havethat, when you have limited inventory like
(33:27):
we have nationwide. It's going tokeep things elevated somewhat artificially. That's what
the mortgage rate thing is supposed todo, is supposed to tamp things down.
So the Fed's plan to bring downinflation includes slowing these things down a
little bit too. Now, wegot other news this morning. I know
you wanted to touch on. I'llgo real quick. The GDP came in
at one point one percent. That'sa full percent slower than we anticipated.
(33:49):
GDP is the growth in most investageproduct, which basically everything we produce and
sell, right, And a goodeconomy, a good strong economy is what
three to four percent sound? Ohyeah, totally? Uh five? When
you hit six seven percent and thenit's too hot, it's too hot,
it's not. And so the sweetspot in an economy is growth of three
(34:09):
or four percent, inflation at threethree and a half percent and lower if
you can yet between two and three. And that is a smooth sailing economy.
Oh so we're close to a recessionat one point. Why aren't we?
Yeah, you are, because technicallya recession is negative GDP, no
growth for the quarter. I thinkwhat we're still anticipating in the majority of
(34:30):
US are a smaller recession, ashort recession later this year, that'll be
that'll complete the cycle from the FED. That will completely give us a restart,
a reboot on the economy starting intonext year, which is just in
time for the you know, presidentialelection. Strangely enough, weird. Yeah,
it's always weird, isn't it whenthe president when you have a new
presidential Okay, let's move over toEV sales. A couple of stories,
(34:55):
one being the number of EV salesin California across the board, and how
many there are if you drive aroundand I'm particularly looking at Tesla's that I
see because they're fairly easy to spot. No one has license plates on the
front. Just doesn't exist, eventhough it's law that you have to.
(35:17):
And the reason I look at themis because I want to roll down my
window and yell at every one ofthose drivers saying, don't you hate this
car like I do? Right,Tesla's going to produce what one point four
one point five million units this year? I mean, that's an extraordinarily,
it's a it's a company that evenafter dropping prices four times or five year,
(35:42):
still makes buckets of money. Ohyeah, totally the margins are still
very high what they're going for herewith the sale price, the MSRP if
you will coming down so much asscale they're looking to get in because there's
another car that I know. Youwant to mention that it's coming out of
the market where Tesla wants to positionitself at that price point that'll give it
scale. Now you said one pointfour to one point five. Yes,
that's what they say they're going tobe able to produce. I don't know
(36:06):
if you have to factor in therecalls that might happen. They're not necessarily
known for their durability when it comesto this, but I will say that
as far as license plate goes,if you don't have one on the front,
they compensate because most of the Tesla'sI see have vanity plates on the
back anyway. Yeah, yeah,if I had to get one, I
couldn't get one that said bad car. I hated mine and I sold it
(36:27):
two weeks after I bought it andwith no miles on it. And what
a dump I took on it becausejust before that, of course, they
lowered their price. Well there's thatfor sure, And I think that other
people are starting to feel that pincha little bit as well, but hey,
that's the cost of doing business.Right now, the EV market is
going to be federally regulated and mandated. They need to be at a price
point. You take the Chevy Boltout of the market, which was on
(36:50):
the lower end of the cost,somebody's got to fill that need, so
water goes to the bottom. Tesla'slooking to hit that price, all right.
So GM is ending the Chevy Voltand it's a popular car. Oh
yeah, I mean it does reallyreally well. Why would a company stop
production of a car that's doing greatin this one? It has to do
with the technologies outdated. The batteriesin them just aren't up to code,
(37:13):
well not code, but up toexpectations in the marketplace. So they're going
to have to redo their battery technologyand this will let them move away those
resources that they're putting into that inthe capital investment and move it over here
to a couple of other models thatthey can get to the market quicker.
All right. Talking about the technology, and at one point it was Tesla
that had the only technology that enableda car to have a mileage of two
(37:37):
hundred and fifty three hundred mile range, right and exactly, and people,
if I'm not mistaken, car companieswould take that technology and Tesla would license.
Said yeah, now today everybody hastheir own right, But isn't isn't
it the basic same technology? That'sa bit above my pay grade when it
(37:58):
comes to it. But I thinkwhat the licensing you're talking about bought them
time to make their own investments intheir own R and D, the research
and development budgets that they needed toget there. Now, of course you've
seen recently speaking of batteries and recycling, Apple is going to start recycling.
It's cobalt, which gives you anidea of the rare earth minerals that are
often used in these batteries. They'retrying to find alternatives to those, yeah,
which come from China for the mostpart, I mean in Central Africa.
(38:21):
I mean it's well, the problemwith China, of course, is
that even to the point now,I mean, the worst financial hit that
we've ever experienced. To show howlow our relationship is with China, they
took back their panda panda left theUnited States after twenty years, either Yang
(38:42):
or Yang or Ping or Prong,whatever they held the name of that panda
was yeah, I mean it's itshows how miserable it is. So in
terms of the EV market, Imean everybody is coming into the market,
I mean just everybody. Tessa usedto own that market, yes, and
even at the higher price points.Yeah, and so mostly in California,
(39:04):
let's be honest. Yeah. Yeah, you go to Orange County, go
to Ala County, every other carbecause I am looking out for them,
every other car. Yeah, it'sall at Tesla. I mean it's amazing.
So what's going to happen? Whatis the forecast? Is Tesla going
to well, certainly have to movelose market share because more people are coming
in. But the future for Tesla, what are we hearing? It seems
(39:27):
very stable. I think that theinitial reaction to the earnings report was,
look, our profit margins is goingto be smaller now, so we have
to get used to that as investors. Joe, So, I mean,
that's just that's just a new worldorder. And you're right, when more
competitors come into the market, it'sgoing to be sharp elbows for a while.
But that seventy five hundred dollars rebateyou get from the federal government helps
that too. Yeah. Well,so Tesla unfortunately has to make only five
(39:50):
times as much as any other carcompany in terms of profit instead of ten
times. Investor expectations are a weirdworld, they really are, all right,
Jason Sunday two to four or pmevery Sunday right here on KF I
have a good one, Jason.Now it is time for Mo Kelly mood
morning. Good morning Mo. AndI was just about to pitch your show
(40:12):
Monday through Friday seven to ten pmevery evening, and so now it is
time for Mo Kelly. I lovehow you say that. That's good.
Well, that's all right. I'vedone it twice. All right, Good
morning MoU. The big, huge, insane story, at least in the
world of media is the Tucker Carlsonstory and how two days after he was
(40:36):
canned, I mean, he wenton the air or on he went on
I think it was an Instagram orTwitter, and he posted or he posted
his little diatribe about how both partiesare a bunch of liars. I mean,
it was just completely crazy. What'syour take on this and what's happening
with the industry cable news specifically,Well, certain things have not changed,
(40:58):
and one thing which has not changedhis no singular entity or personality is bigger
than the network that he or shewas on. We can talk about Tucker
Carlson today, but we can goback and talk about Glenn Beck, Makan,
Kelly Bill, O'Reilly Shepherd Smith.And after they've lost a left Fox
News, they have not commanded thesame type of audience after that. Now
(41:19):
will that be the same case withTucker Carlson. We shall see. But
Tucker has made it very clear thathe has not phased, at least publicly,
surrounding being let go of this mutualparting of the ways. However,
it's want you want to characterize it, and he does have plans to still
have a place and a voice,and not only media but also the political
space. There have been rumors abouthim possibly running for president. I don't
(41:43):
know how real those rumors are,but he's definitely going to have a presence
leading up to the presidential election.I mean, you know, the guy
is the darling of the far right, and some of the stuff he's done
is just downright nuts. Just readingan article in the New York Times at
the Fox to get executives at somepoint had to just give up the ghost
(42:04):
and toss him because it just cameout just a couple of days before the
even night before. Some of theemails were so offensive that he wrote that
we don't even know that they werein there. And then credibility too,
I mean, what happened. KevinMcCarthy releases or gives to him all of
the video that the house had,and he actually goes on the air and
(42:28):
show it, says it was apeaceful demonstration, there was no overrunning of
the capitol, and he has videosof people calmly walking, and I mean,
where's the credibility there. I don'tthink credibility is an issue in the
terms of why he left. Ithink it's more about liability and legal exposure
potential. His former ex booker andex producer, Abby Grossberg already has a
(42:49):
lawsuit which is filed at which he'sa named party as well as other Fox
executives as far as a hostile workenvironment and also suppose anti simmit and other
issues within the workplace. And thisis coming on the heels of the Dominion
lawsuit. And there's also the SmartMadic lawsuit. And Abby Grossberg has at
least ninety recordings that she has recordedwhile in there. While in the employee
(43:13):
of Fox News, which have yetto come out in large part, so
I'm quite sure Fox News made thecalculation that if something should come out damaging
beyond those emails which you reference,they have at least a little bit of
safety in a sense of, well, they can say that, well we
fired him, or he's no longeran employee of the company. Did Is
he going a Newsmax? You thinkor I don't think so. I don't
(43:34):
think so. I think there's probablysome sort of non compete clause in there
which has been hashed out long beforethis moment, which would preclude him going
across the street to Newsmax or oeN. That's first thing. And I
don't know if either those networks havethe cash truck to back up to give
Tucker Carlson what he would be demanding. Yeah, it's probably true, and
I'm assuming that as long as theypay him for the rest of the contract,
(43:58):
then you know, he is precludedfrom walking across the street. I
mean, he's gonna right, He'sgonna do Okay. Megan Kelly did just
fine with the attorney that she hires, same attorney everybody hires. It's a
that's a good gig. So whatis Fox great to do in terms of
that space? And I'm talking aboutmore so than just right now. There's
(44:19):
a there's a filler going on,you know, all right, just to
keep it going with other hosts doingthe rotating business. What do you think
Fox is going to do another personality? Yeah, past this prologue. I
would think it's predictive of the future. In the way that Tucker Carlson wasn't
a really known quantity or a belovedquantity when he kind of slid into the
spot and then slid into Bill O'Reilly'sspot. I could see a Jesse Waters
(44:43):
or someone like that eventually taking afull time. But Fox promotes the brand
more than any individual personality. Andthat's why Fox has done so well and
has lasted for so many years,because they understand what how to butter their
bread. All right? So,mo, are we ed to b seeing
you on Fox anytime soon as oneof the contenders. Look, I always
(45:04):
say bye. They know how toreach me if they want me, they
know how to call me. No, seriously, I go where I'm asked
to go. Uh yeah, No, I've seen you on various sources,
not usually you don't do too muchof right wing stuff. But that's not
true. Bill, Oh, Ididn't know. I've done Owa and a
number of times. I didn't knowthat. Yes, I did not know.
I know you do a lot ofstuff all over the map, but
I didn't know that. Heymo.Do you want to come on wake up?
(45:27):
Call it five oh five p m. See okay, he will I
tell truth? All right? Thatis true he had. Now let's move
into and someone you've met someone youcertainly know a lot about Harry Belafoni.
And usually we overuse the word iconic. I mean everybody's iconic. But in
(45:49):
his case, uh, that's thetruth. Harry Belafoni just died, and
so let's share about some information,some some musings about that. Well.
I had been in his presence sixor seven times. It's spent a lot
of time around him, just inmy last job working with Tavis Smiley,
so he would frequently come through forinterviews, dialogue, sitting down. He
(46:10):
was very accessible and he's one ofthose people even though he wasn't of tallest
stature, he was about maybe sixone or so, but his presence,
going back to being an icon wouldjust fill up the room. He was
revered in such a way that fewpeople are. And although people may know
him as a musician, a singer, and they may know him as an
actor and an activist, they don'tnecessarily know the depths in which his activism
(46:36):
went. I mean, he intimatelyunderstood the power and role of Hollywood,
specifically in shaping the civil rights movement. People may not know he was one
of the principal planners of the Marchon Washington for Jobs and Freedom back in
sixty three. That was the whereDoctor King gave his I Have a Dream
speech, And for that speech,specifically, Harry Bellefonte charted a plane to
bring in people like Charlton Heston,James Garner, like from the Rockfords,
(47:00):
Rita Moreno, Marlon Brando, becausehe believed fundamentally that Hollywood could evangelize and
people needed to be able to seewhat was going on that sea of people,
and they weren't brought in to beseen or to be celebrated, but
just so they could see the humanityof African Americans and also speak about that
when people would later ask them intheir own interviews. Yeah, one of
(47:21):
the things. I mean, youlook at the I have a dream speech,
and there he is, and atmany of the marches, there he
is. And I was a hugefan still in he brought Calypso music and
just loved that music. He boughtthat genre to America. But let me
ask he is not one or wasnot one of those singers whose career went
(47:44):
on forever. Frank Sinatra, forexample, saying until twenty minutes before he
died. He ended his career fairlyearly, didn't he? Yeah, there
are a couple of reasons. One, he was focusing on a movement.
He had some issues and multiple surgerywith nodules on his throat. If you
listen to him in later interviews,his voice was very gravelly in nature.
(48:05):
I would say it deteriorated where manytimes where you're around him, he didn't
speak much louder than a whisper becauseit was very difficult for him to speak,
even though he was a commanding president, So he was less focused about
becoming personally successful and more concerned withsocietal success. I mean, he was
one of the last contemporaries of DoctorKing. Harry Belafonte more used his celebrity
(48:29):
to forward the movement. He's creditedwith bailing out doctor King when he was
in the Birmingham jail where King wrotethat legendary letter. He was also responsible
for bailing out many of the freedomwriters in the South and recruiting other activists
to the cause. And also therewas a pushback from the civil rights movement
against Harry Bellefonte at certain point,because Harry Belafonte was very, very demanding
(48:51):
of the movement and people in themovement to make sure that they kept their
eyes on the prize and moved thecountry forward as a whole. A good
looking guy too, if you lookat when he was a film star,
which he was, and of coursea singer, and I think his first
hit was Do That he Brought andit just exploded and he became an international
(49:13):
star. Um career stopped. Washe a wealthy guy when he died.
I can't speak to his level ofwealth, but I'm quite sure he was
very comfortable, if only because we'llput his way, he always had enough
wealth to do what he wanted todo, and that was primarily helping others
and helping even to the day hedied the forty of civil rights issues and
(49:35):
justice issues. But I don't thinkhe was wealth centered in any way personal
life. Do you know much abouthim marriage as kids. Yes, I've
been friends with his daughters over theyears, Gina and Sherry Bellefonte. He
was very close to his daughters.In fact, in his last Instagram post,
which is around his birthday, whichis I think March first, he
(49:57):
was I think he was co presentof his declining health and we were saying
how much he loved his daughters andhe was thankful for the birthday wishes.
He was self aware in that regard, but he was very much a family
man. Of course, he wasa man of Hollywood, so I quite
sure there are plenty of stories ofhim as being a sex symbol and icon
in everything which comes with that,But primarily he was beloved to be interested.
(50:20):
I always asked this of celebrities whenI haven't met them, and when
I do, I pay attention tothis. And you and I have talked
about this, and that is washe aware of who he was? I
mean, did he think he wasHarry Belafonte, the international star? Or
was he just a regular guy whohappened to have gone and had this incredibly
(50:45):
good career. Oh I love thisquestion, if only because he was a
quintessential gentleman in every sense of theword. He's a gentle man, soft
spoken, he was always warm,always warm, and accommodating. He was
to always speak to someone younger thanhim because he felt it was necessary to
pass on his wisdom and also histute religion instruction to someone else who was
(51:08):
curious. He often held court,but he never saw himself above anyone else,
not in my presence. He wasa beloved man and I miss him
dearly. That's cool, I mean. And for those people who have never
heard him saying, you would justgo on to YouTube and just put in
Harry Belafoni and you'll hear some ofthese amazingly wonderful Calypso songs that he uh
(51:30):
that he's sang. And then justa quick and the one I know,
the person of personality who is onthat that ILK was, uh, jeez,
my mind has just gone unlis Dondeluis sorry about And here was a
guy who on that same ILK andI was I was like enough to socialize
(51:52):
and hang in some certain circles.He didn't know he was a movie star.
He did not get that he wasa major star are and as I
watched him where we went someplace andpeople would come and go, mister Louise,
can I have an autograph? Hewas more excited than they were.
Hewen, Oh my god, thankyou. It's it's extraordinary. I love
(52:15):
that story and I'm such a hugefan. And how old was he?
Need died like nineties? Right ninetysix? You know what that's you know,
that's a life well well lived,to say the least. Mo,
thank you. We'll do this againas always next Thursday, and then don't
forget tonight seven to ten o'clock.Mo Kelly, The Mo Kelly Show.
You have a good one talks takecare. Yeah, it was good.
(52:37):
Yeah, it's Mo knows everybody,you know when it comes to oh yeah,
yeah, I do you know,yeah, yeah, we used to
hang out together. Also, Iwant to remind you that I am taking
phone calls starting in just a momentfor a handle on the law marginal legal
advice. I'm gonna do it offthe air, although we'll use the calls,
and the number is eight seven sevenfive two zero eleven fifty eight eleven
(53:00):
seven five two zero eleven fifty Startingin just a moment, coming up.
It's gonna be Gary and Shannon,Gary what's happening on the show. Well,
you mentioned the death of Jerry Springer. We're gonna talk more about kind
of the impact that that guy hadon all of tabloid television. Yeah.
Also the latest Tucker Carlson and DonLemon. Both of them made appearances yesterday
(53:22):
one on video one at an awardshow. We'll talk about what they said
and what their futures hold for them. We've got strange science coming up late
in the show. We got asports round up to get to. It's
a it's a full show. You'vebeen listening to The Bill Handles Show.
Catch My Show Monday through Friday,six am to nine am, and anytime
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