May 12, 2025 • 9 mins
Listen on:
Apple Podcasts:https://podcasts.apple.com/us/podcast/watchdog-on-wall-street-with-chris-markowski/id570687608
Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i
Watch on: https://www.youtube.com/@WatchdogOnWallstreet/featured
Chris sounds the alarm on the disappearance of true free-market advocates within American politics, likening them to the last survivors in I Am Legend. He critiques the rise of economic nationalism within the so-called “New Right,” condemning bipartisan support for tariffs, crony capitalism, and government-led industrial policy. Through sharp analysis and pointed cultural references, Markowski dismantles the myth that tariffs are a free-market solution and argues that real economic progress stems from individual entrepreneurship, not political manipulation. With both parties drifting toward centralized control, he warns that without free markets, there can be no free people. www.watchdogonwallstreet.com
Apple Podcasts:https://podcasts.apple.com/us/podcast/watchdog-on-wall-street-with-chris-markowski/id570687608
Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i
Watch on: https://www.youtube.com/@WatchdogOnWallstreet/featured
Chris sounds the alarm on the disappearance of true free-market advocates within American politics, likening them to the last survivors in I Am Legend. He critiques the rise of economic nationalism within the so-called “New Right,” condemning bipartisan support for tariffs, crony capitalism, and government-led industrial policy. Through sharp analysis and pointed cultural references, Markowski dismantles the myth that tariffs are a free-market solution and argues that real economic progress stems from individual entrepreneurship, not political manipulation. With both parties drifting toward centralized control, he warns that without free markets, there can be no free people. www.watchdogonwallstreet.com
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
The Omega Men of Free Markets, The Omega What am
I talking about? What I mean? Omega Man Well Again
was a movie in nineteen seventy one seventy two, Charlton
Heston movie. It was based on a book called I
Am Legend and Again. They made a remake with Will
Smith I Am Legend. Well, anyway, I'll kind of get
(00:38):
to the you know, the crux of it. You know,
the whole idea of I Am Legend, which was the
original book was is that basically, the hero in the
book hunting Vampires, he ends up being the last human
being left. So in essence, he becomes the vampire because
(00:58):
the entire vampire society is afraid of him, So in
essence he becomes the legend like the vampire. But anyway,
why do I bring this up? There's not many of
us left, not many of us free market people left,
most certainly not in the Republican Party anymore. With the
various different things that they're discussing in the ideas that
(01:20):
they're coming up with. Free markets, free markets seem to
be going by the wayside, and it's it's frightening. It's
like this. They're calling it, some calling it the new right.
It's not right. Okay, you're going to call it a
new wrong, quite frankly, is what it is. Andy Kessler
(01:41):
had a pretty interesting piece on this talking about talking
about well tariffs in particularly, he talks about how only
three Republican senators voted to block Trump's tariff policies. Again,
they wanted to basically end the April second National Emergency Declaration.
(02:02):
Only three, Only three, that's how scared they were being
primaried or being ostracized by Donald Trump. So they're all
singing the praises of this fair trade nonsense and trade
deficits that quite frankly, don't make any sense. Again, the
(02:23):
idea that politicians and I've explained this before, that they
can actually control or direct a global economy, that's what
one hundred and fifteen and twenty trillion, that they know
how many dollars your kids should have for Christmas. It's
(02:44):
it's bad, it's bad. Kessler rights power corrupts like identity
politics and climate hysteria. Passion for tariffs is a sleight
of hand to grab power. Tariffs bring insider dealing in
special interests is right. We've talked about this. Here we
see with the iPhone and auto exemptions are barbie exemptions. Next,
(03:06):
miss Trump admits that tech leaders all hated me in
my first term, and now they're kissing my ass. It's
cronyism on steroids. Tariff bedfellows are far and wide. Michigan
Democratic Governor Gretchen Whitmer said last month tariffs need to
be used like a scalpel, not a hammer. Let me
guess carving out foreign autos. Oh yeah, you got a
(03:28):
mod squad. Progressive tariffs can be incredibly useful to invest
in American jobs, except, of course, she doesn't like how
Trump is doing them, or in casts of American compass,
which is again this guy is a big new wrong
or new right, whatever you want to call him. Told
the New York Times, I actually see tariffs as the
(03:49):
much more free market position. Again, they keep using that word.
I don't think it means what they think it means.
I mean free market. How do you figure ah boy,
Their ideas again are not working. It's not demand side,
(04:13):
it's not supply side. Trump says, we're all about jobs.
That's labor side. Economics. Who came up with that one?
Oh yeah, what's his name? Carl? Oh, Karl Marx came
up with that one. Tariff lovers talk about bringing back
low end factory jobs from the nineteen fifties and sixties,
(04:36):
suggesting that not every American can master spreadsheets, program robots
or twittle artificial intelligence. Uh huh No, I'm sorry people,
you can't. You can't engineer the economy this way. Again,
(04:57):
we hear that the shouts it's a negotiating tact supply
chains again, you know a lot of it complete nonsense.
You want to deal with the wt O, deal with
the wt O. Supporting free markets is now labeled zombie Reaganism. Again,
(05:19):
we omega men of free market supporters. We're heretics at
this point in time. And again I hear it, I
hear it all the way. Oh, Reagan's going out different nowadays. No,
I got to do with maga stuff. Yeah yeah, again,
(05:41):
makes no sense whatsoever. There's no logic or reason and
the things that they're putting out there and again I
keep asking for people to give some sort of logic
and reason behind their positions, and they can't. It's all motion.
Forgotten is that the markets do the dirty work of
facilitating trade by finding the right price, rather than whoever
(06:04):
last whispered in the president's ear. People do the dirty
work of figuring out what's next in delivering progress. Entrepreneurs,
not bureaucrats, drive change in the economy and wealth building productivity.
Self interested politicians never hit on the right price to
clear markets or to pick the right industries to support.
(06:25):
Mister market always has them beat. Proponents shouldn't go weak
need or lilylivered. Now again this rang cass free trade,
free markets, choose one that doesn't make any sense again,
exposes corrupt biases and appetites for power. Manufacturing enabled by
(06:48):
free trade helps developing countries move up the value chain
again something we've discussed here at great length, and afford
to educate their next generation better jobs and education. That's freedom.
Without free markets, you don't get free people. Whether it's tariffs,
green jobs, Made in America, mandates, or identity politics, they
(07:10):
all have the same aim. Government expressed bossiness because of
self serving cronyism for dollars or votes. Government industrial policy
always glitches, capital gets misallocated, prosperity suffers. Again, we just
had a trade deal, well trade deal, what do you
(07:33):
want to call it? Deal or no deal? I don't
even know what it is, stepping back from in essence
the brink, I guess with China. And again we can
want to take that as a win. We'll take that
as a win. But the free market works every single
time it's tried. And again the stepping back. It's really
(07:54):
odd to see right now, even the Republicans right now
talking about their big, beautiful bill and their inability to
get any sort of reform. When it comes to Medicaid
that needs to be fixed. I mean, it's a great
opportunity to do it, and they don't want to, just
like they had a great opportunity to get rid of
(08:15):
Obamacare and Trump's first term and they didn't want to
do it. Last week could have codified many of the
things that Elon Musk had done when it came to doze,
when it came to spending, didn't want to do it.
(08:36):
So again, I don't know who we have. You know,
we're told, we're told that you know, there's an essence
to two different ways of thinking that's out there. It
almost it almost getting to the point in time where
it seems like, you know, the only difference between the
Republicans and Democrats is on social issues. That's that's basically it.
(09:01):
They seem to be pushing the exact same thing. Watchdog
on Wall Street dot Com
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
The Omega Men of Free Markets, The Omega What am
I talking about? What I mean? Omega Man Well Again
was a movie in nineteen seventy one seventy two, Charlton
Heston movie. It was based on a book called I
Am Legend and Again. They made a remake with Will
Smith I Am Legend. Well, anyway, I'll kind of get
(00:38):
to the you know, the crux of it. You know,
the whole idea of I Am Legend, which was the
original book was is that basically, the hero in the
book hunting Vampires, he ends up being the last human
being left. So in essence, he becomes the vampire because
(00:58):
the entire vampire society is afraid of him, So in
essence he becomes the legend like the vampire. But anyway,
why do I bring this up? There's not many of
us left, not many of us free market people left,
most certainly not in the Republican Party anymore. With the
various different things that they're discussing in the ideas that
(01:20):
they're coming up with. Free markets, free markets seem to
be going by the wayside, and it's it's frightening. It's
like this. They're calling it, some calling it the new right.
It's not right. Okay, you're going to call it a
new wrong, quite frankly, is what it is. Andy Kessler
(01:41):
had a pretty interesting piece on this talking about talking
about well tariffs in particularly, he talks about how only
three Republican senators voted to block Trump's tariff policies. Again,
they wanted to basically end the April second National Emergency Declaration.
(02:02):
Only three, Only three, that's how scared they were being
primaried or being ostracized by Donald Trump. So they're all
singing the praises of this fair trade nonsense and trade
deficits that quite frankly, don't make any sense. Again, the
(02:23):
idea that politicians and I've explained this before, that they
can actually control or direct a global economy, that's what
one hundred and fifteen and twenty trillion, that they know
how many dollars your kids should have for Christmas. It's
(02:44):
it's bad, it's bad. Kessler rights power corrupts like identity
politics and climate hysteria. Passion for tariffs is a sleight
of hand to grab power. Tariffs bring insider dealing in
special interests is right. We've talked about this. Here we
see with the iPhone and auto exemptions are barbie exemptions. Next,
(03:06):
miss Trump admits that tech leaders all hated me in
my first term, and now they're kissing my ass. It's
cronyism on steroids. Tariff bedfellows are far and wide. Michigan
Democratic Governor Gretchen Whitmer said last month tariffs need to
be used like a scalpel, not a hammer. Let me
guess carving out foreign autos. Oh yeah, you got a
(03:28):
mod squad. Progressive tariffs can be incredibly useful to invest
in American jobs, except, of course, she doesn't like how
Trump is doing them, or in casts of American compass,
which is again this guy is a big new wrong
or new right, whatever you want to call him. Told
the New York Times, I actually see tariffs as the
(03:49):
much more free market position. Again, they keep using that word.
I don't think it means what they think it means.
I mean free market. How do you figure ah boy,
Their ideas again are not working. It's not demand side,
(04:13):
it's not supply side. Trump says, we're all about jobs.
That's labor side. Economics. Who came up with that one?
Oh yeah, what's his name? Carl? Oh, Karl Marx came
up with that one. Tariff lovers talk about bringing back
low end factory jobs from the nineteen fifties and sixties,
(04:36):
suggesting that not every American can master spreadsheets, program robots
or twittle artificial intelligence. Uh huh No, I'm sorry people,
you can't. You can't engineer the economy this way. Again,
(04:57):
we hear that the shouts it's a negotiating tact supply
chains again, you know a lot of it complete nonsense.
You want to deal with the wt O, deal with
the wt O. Supporting free markets is now labeled zombie Reaganism. Again,
(05:19):
we omega men of free market supporters. We're heretics at
this point in time. And again I hear it, I
hear it all the way. Oh, Reagan's going out different nowadays. No,
I got to do with maga stuff. Yeah yeah, again,
(05:41):
makes no sense whatsoever. There's no logic or reason and
the things that they're putting out there and again I
keep asking for people to give some sort of logic
and reason behind their positions, and they can't. It's all motion.
Forgotten is that the markets do the dirty work of
facilitating trade by finding the right price, rather than whoever
(06:04):
last whispered in the president's ear. People do the dirty
work of figuring out what's next in delivering progress. Entrepreneurs,
not bureaucrats, drive change in the economy and wealth building productivity.
Self interested politicians never hit on the right price to
clear markets or to pick the right industries to support.
(06:25):
Mister market always has them beat. Proponents shouldn't go weak
need or lilylivered. Now again this rang cass free trade,
free markets, choose one that doesn't make any sense again,
exposes corrupt biases and appetites for power. Manufacturing enabled by
(06:48):
free trade helps developing countries move up the value chain
again something we've discussed here at great length, and afford
to educate their next generation better jobs and education. That's freedom.
Without free markets, you don't get free people. Whether it's tariffs,
green jobs, Made in America, mandates, or identity politics, they
(07:10):
all have the same aim. Government expressed bossiness because of
self serving cronyism for dollars or votes. Government industrial policy
always glitches, capital gets misallocated, prosperity suffers. Again, we just
had a trade deal, well trade deal, what do you
(07:33):
want to call it? Deal or no deal? I don't
even know what it is, stepping back from in essence
the brink, I guess with China. And again we can
want to take that as a win. We'll take that
as a win. But the free market works every single
time it's tried. And again the stepping back. It's really
(07:54):
odd to see right now, even the Republicans right now
talking about their big, beautiful bill and their inability to
get any sort of reform. When it comes to Medicaid
that needs to be fixed. I mean, it's a great
opportunity to do it, and they don't want to, just
like they had a great opportunity to get rid of
(08:15):
Obamacare and Trump's first term and they didn't want to
do it. Last week could have codified many of the
things that Elon Musk had done when it came to doze,
when it came to spending, didn't want to do it.
(08:36):
So again, I don't know who we have. You know,
we're told, we're told that you know, there's an essence
to two different ways of thinking that's out there. It
almost it almost getting to the point in time where
it seems like, you know, the only difference between the
Republicans and Democrats is on social issues. That's that's basically it.
(09:01):
They seem to be pushing the exact same thing. Watchdog
on Wall Street dot Com
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