In this episode - Was Trump right the entire time about the "wiretaps," and does the media owe Mark Levin a huge apology? http://fb.me/8Zlcspi9K Liberals are losing their minds over an op-ed piece promoting hard work and family values. https://www.wsj.com/articles/higher-eds-latest-taboo-is-bourgeois-norms-1505774818 The Secret Service is collapsing because of inept politicians and poor management, if we don't fix it soon someone is going to get hurt, or worse. https://shar.es/1VrXhD You should be very concerned about this Fed policy and its impact on your wallet. https://www.bloomberg.com/news/articles/2017-09-18/wall-street-s-bond-gurus-have-it-all-wrong-as-qe-unwind-looms Why are illegal immigrants shouting down Democrats? This is a really bad strategy. http://insider.foxnews.com/2017/09/19/nancy-pelosi-confronted-dreamers-over-daca-deal-trump-dan-bongino-reacts Sponsor Links: www.BrickhouseNutrition.com/Dan www.PreparewithDan.com
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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
They don T know you want the truth comes at his pipe guess. You want someone to be issued and before the crap go to a political reality, dandelions knows we have to call it what it is. We have to stop being delicate about waiting to hear the truth about America. When I like the left this network, conservatives don't need, say spaces, they don't need lollipops in colouring, books and Teddy bears. I'm good. Ok on a showed its not immune to the banks. With your host Dan Bonn Jean, I was running in public about their budget ovaries jar. You re doing fine on this national top. Like a pirate stay down like us, I could see that people wanted to jump off the top of their reaction. If, if national talk like a pirate, Gabriel Carbon Game,
don't get out. I know I've really, after about five minutes of that, I'd be like no more. I was I promise national talk like a pirate. They who
gotta that I don't know. Man,
You know where to start, because there's so much material today, so I had a number that this stuff, the number my story so we get to it, but before we
yesterday I promise you that I would get this clip
and Shapiro absolutely annihilating a you know, goofy liberal, at this,
each at Berkeley and adjusted the recap a bit from yesterday the Lib
last question that destroyed liberalism in the course of the liberal asking a question and a liberal was a smart enough, even figure it out. He basically visit
I can venture Piero for not having a phd in sociology or psychology in commenting on social issues of the day that the word so his prayers
this Shapiro, not smart enough to have
opinion on social issues, although deliberate his realise. Of course, if you say yes, we show that the entire premise of his question destroys liberalism altogether. So you,
to a Harvard trained lawyer by the way is: that's me
enough to have opinions.
Critical issues, but liberals can
the entire government health care businesses, banking, everything, it's a joke, so here
They caught listen,
a guy opens up by the sounds a little tough together, thanks to all the listers email me with this clip. I really appreciating Tyler sent that over me. So I appreciate that are played a car, so I was it tat you see, lay in political science and then not harbour lawful.
You have been in
I dont cancer sociology, particularly expert, feel, but God I think
able to read a sociological study last. There are lots of fields and static may not allow us about welding than I do about sociology says well brought up tonight a lot more about all those others. Then, let's be necessary. As far as if you wanna take issue with the argument, I would urge you not to use the argument from authority, which is somebody has a phd by they didn t know it they're talking about that's Denmark. Ok, remember the remedies
Ernie of experts have discussed this before the pass. All your folks never ever buy into the tyranny of so called experts. In other words,
Shapiro said, is absolutely correct and had Tipp to him for saying, because someone
as a phd behind their name does not give them the right to declare that facts are therefore not facts and data, because you have a phd and the example. I give all the time that some of you are tired of some of you. Not is the bill
Clinton surplus. I cannot tell
you. How many phd economists who are liberal will tell you that Bill Clinton ran a surplus when he was
the present United States government surplus he presided over when, in fact no such surplus exists because
the national debt rose every single year of the Bill Clinton presidency. This is just the left, the guy
liberal, asking these dope request again only the recap yesterday showing that this is important. If the question
critical! The question
exposes the leper? What it is you have
oh right to an opinion unless you have a phd and yet the guy's entire opinion is a people or elected into government office without said, Phd should be.
Every single aspect of your life, including the local congressmen who may have been whatever he may have
a business executive in pharmaceuticals whose now presiding over banking policy. He has no phd in either by the way so liberal
submit just full adults, but don't let that get in the way pay another thing: cleaning up our descendants to die, never Joe right. I never send you stuff on issues on email because- and I want to bother you, but I
anyone yesterday chop walking into the EU are now by the way,
I don't know what else to say about the social security show. Ok,
a guy email me yesterday, Guy named John, I guess you didn't listen to show or if he did AEGIS angry listen, I don't I don't.
Get a lot. I get a lot of glowing email. I get a couple or not so glowing emails, but what I don't appreciate her all is people sending emails about things I didn't say in and asking me to defend them in an email is water.
Bobby you to stop taking my show security a die, or I do I'm done. I'm done with that. I'm done
I've got about a hundred emails on the social security, explicit, show John
open your ears or please this continue. I don't care, I don't
the money from the show. I don't you, I do the show because I enjoy it. I enjoy put
good ideas, and hopefully you I'm not going to listen to stupid email. Ok, you know you. That is not what I said. I said this agenda dude. If I get one more these emails, I'm telling you I fired right back and go duty, endless solution about answering this. Some people will hear what they were.
Here, Dan, that's! But when I reply to you that is
exactly mean capital letters. You said that I am. That is not what I said about the social security show.
That is clear as day there's no
in the programme, I did not say that
Fifty five and older. You should stop sage, taking your social security and die. I said the exact opposite as a matter of fact that the program's bankrupt by no fault of your own, you did pay money in. You are not old, you're, not young enough at this point to start your entire working career over again that we should prioritize getting those funds. Do you did you not hear that or are you intentionally death? My
God. I can. I buy meat. I really turned my age and behaviour
I can't believe you you'd again
These do not send me emails. If you don't listen to I'm sorry, don't your way
the real listeners time. It's really offensive.
The com- and I do you want me to respond to you about some. I didn't say.
I really was annoyed about and what other thing it's daddy, Glover, not dance like you. Even Joe was right or wrong now and daddy
however, is an actor. I know that he was in a lethal weapon. I think he was an operation dumbo drop recently that is
the actor I was talking about yesterday's show there is.
Other act or a younger guy at the Rec, using a tiny glover, not Danny their different people.
I appreciate that you too Walton should really be the males me a lot and given Joe tried to correct it, show he goes dude. I think it was Danny, clever, it's not as Daddy Glover. That was the guy who gave me terribly speech at the Academy awards about Trump oppressing black people body. It's not any added. I met
polite Bronx, Bolivia, cultures, that but not this one. Ok, I dig into this jokes. Are so much talk,
today. So Levin was right. The info Markel event tomorrow, right, Markel Vain, deserves a big apology from all of the hacks at sea and ends Brian Spelter with who
it was just become a disgrace to media member when the VIN one about what
Consent eight listen up.
Seeing the wiretapping stories about Trump being wiretapped under New York, timezone reporting and everybody attack. Levinus bar
Bavarian right wing conspiracy theories,
through a man with them all the
conspiracy. There's people they said this guy's, not
credible LISA he's looking for ratings. They all attack them.
It turns out what, by them,
Mark was using New York Times own reporting about wiretaps. That Mark Levin was right,
breaking last night poor man afford who was
the campaign manager when one of the campaign executives further Donald Trump presidential campaign,
Zat CNN of all people broke a story last night that man afford
I was in fact wiretapped and mode of waiting
for live job Trump Tower.
During the time in question, so not only was Donald Trump. It appears at this point because
I see that I'm gonna hold out cause they're using sources and even though it CNN reporting on a story that would hurt CNN. I give them credit for doing that reluctantly, but I do
I'm still not willing to accept the story at face value until we get something confirmed here, because
not going to make a mistake they make of on names sources, but
these unnamed sources are correct, Donald Trump,
about being wiretap. The Trump tower was true now
don't expect the media people are most of the media acts to go back to New York Times and admit they were wrong the whole time, but I do expect Brian stouter and all the people who attacked
Scarborough it at mornings
as well who attacked Mark Levine. I do expect you to
some decency, so
the decency to go and apologize television for saying he was a conspiracy theories for promoting economic value
promoting for just documented what the New York Times in fact reported themselves that the Trump campaign was wiretap. Now this to take
ways from this that are really important before we get to that is to take away next
was the Obama police state. At this point, you may say: bye
It is true that what out there? That's a lot of really you just do it in their so casually about yeah yeah. I did because it's on
is there any reasonable person right now that the Obama administration at a minimum in its last year. I would debate law
that happened at a minimum its last year, while the presidential campaign was going. I use police state tactics we now
Susan Rice as National security adviser admitting to unmask ing without
any good reason at least no good reason, anybody's heard yet and definite
you're, not a national security reason. We now
is national security, but visor admitting to spying on trumped campaign, offers that's already but admit that liberals,
time to show off now position.
We do facts,
and always some. It's me. Some Zippo treated me back last night, some liberal writer as well.
One way to look at it, not that that the Obama Administration Police state, corrupt, theirs,
No other way.
That's, the only way to look at it. There is no
other way. Susan Rice already admitted to it, and if this story
What we do and masking trap of inward spying on trumped campaign, members,
This story turns out to be true and see and ends. Reporting is accurate. There is no other way. These are police state tactics. What a police states do they spy
their political opponents, what the Obama administration do its pilot, its political opponents motive, that's open for
interpretation anymore, the degree of it
if there was unmask king and wiretapping as well, which you can
like the same thing under different premises year, one Pfizer one criminal
in in a Kazan there's. This is
You stay tactics. There's no other way to look at this now. Couple
take away from this agenda, but what is it that allegedly, the decree
there was a criminal wire folks as a former lot
I'm a it's important for me to make the distinction here a wired
It would be listening in on a call without the permission of at least one port in New York.
State where Trump towers located as a one party consent state is critical. You understand the legal terminology. One party consent state means that it's not a technically a wire tap if
I give permission for the call be recorded Joe, doesn't care so
say.
Gee, always is being investigated for conspiracy to inflate the renegade republican Download downloads. Rosato, don't be ridiculous and where
they get arrested Joe and I, the FBI, pinches- means as you inflated your download numbers on a renegade Republican you're going to jail, but
we know the armor cost. Is the technical genius behind the add the renegade Republican in these egg producers? So here's what we're gonna do we're gonna put. It
device on that and that phone and we're gonna give Joel calling you gonna recorded.
Who's. The one party who gave consent to record it made me now fly,
You know where I live. Now is a two party consent state, meaning both of us have to get permission for the call, or else you need a warrant right, a wire tap
in what New York, therefore, which is one
already consent. State job would mean by default
neither Joe nor I
it can said, because it
One party consent state. There are refugees.
No consent. That means
ones, listening in a third party being the government, so there was a criminal case built
apparently against man afford or trying to be.
Against a man afford that they use that
mental case warrant to get the wiretap that went away
the case because, according to see an end to reporting, I can't believe I'm saying this:
I really according to see an edge reporting. There was a lack of evidence. Lack of evidence really
there was a lack of evidence of a cried folks that again, in some circles, rude call that a clue that there's no there there, but the government led
the Obama administration, apparently hell bent on record,
the conversations without the consent of either Party of Trump Administration officials. Good, didn't too good
wasn't good enough that there was no evidence of criminality. So what did they do? They want for
as a warrant Joey far and intelligent surveillance act born, which is now
require probable cause of a crime. It just
acquire some evidence that you were in fact interacting with a foreign power and effort to harm the United States hears the kicker, though
Tell me how this is a police state package. You want for a criminal weren't you get the criminal war.
So now the conversations cases drop no evidence you there
a good enough is good and you go back for a fire of weren't. You claim that,
evidence of a foreign power trying to influence man a fortune. You go to these surveillance courts. Instead, what did they base it on?
allegedly again, according to CNN reporting, they based its of it's. What we
hearing on the dossier, the fake trumped up
yeah, but how he likes all these perverted sexual things. That's a family shell
We don't need to cover that gives a dossier is garbage. It was made up, is all fabricated spent discredited by every credible person on the planet? Think about what I just told you job again. Liberals listening, including
ass. The twitter knucklehead decided Tweed Bactria cited this evidence of trump corruption. Think about what I just said.
But this is what he said, not Obama. You went after trumps. People on a criminal case- you had nothing
having nothing wasn't good enough, you went back to a foreign intelligence court with no probable costs. Apparently you couldn't get probable cause for anything at this point, so you went back in a legit. They were allegations of foreign interference in it or to get those
allegations of foreign interference in front of a far Pfizer court judge. You use the dossier that is categorically untrue.
Then listened on. Conversations between man afford and passed
Black Donald Trump as well depressed
and shall now many folks. This is the big,
political scandal of our lifetimes now do what you did.
Eleven to me, I don't care. Call me a conspiracy theories. Call me crazy. I'm telling you if you are on the wrong side of this, you are supporting absolutely the downfall of the constitutional republic in the implementation of police. They tactics in the in the last. Surely free country on shit,
shame! Shame on you! Shame you disk!
to me. If you support this, don't like tromp, fine, don't fall for Trump fine, don't like Republicans hate Republic, as I don't care
supporting this, makes you when apps
lately: morally corrupt ethically bankrupt illegal criminal and despicable despot who acts.
Ultimately supports the use of violence and the monopoly of government force to destroy the lives of people who don't align with political ideology. It's all. You are you're, nothing more! Don't pay yourself on the back. Don't take your on the right side, a history! You are a disgusting person. I would never ever ever, regardless of the timeline
regardless of the politics of people involved
on my experience in the government and my fear of what goes on the inside ever support
use a police state tactics like this, the spying on a political people and they wired
being a political people for clearly nothing,
then a political agenda. I don't care what the parties involved. You should be ashamed.
Give yourself view self. If you support this, I got a lot of stories to cover day so
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This story has be fired up to eight. I addressed this a couple weeks ago and its resurfaced again due to end up added a wonderful up had written and while she Journal today by Heather Mcdonald, does some terrific work, our criminal justice as she's, just a really fantastic right,
and she has an up in the Wall Street Journal today, a body a u pen, a piece
by a: U Pan, profession,
university Pennsylvania who wrote a piece Joe talking about now. I'm only quotas to be exact.
This has been a big uproar by the left there on fire about this peace. Now I'm gonna region
controversial ideas. She wrote their name is Amy,
back she's, a. U pen, professor who wrote,
at these highly controversial ideas and liberals are losing their collective about type- is a quote from our other metals piece in the journal today to the
list of forbidden ideas on American College campuses Ed Bourgeois norms such as hard work of wall,
self discipline by this is. Could oh my man,
marriage and respect for a third way hardened.
Self discipline, marriage and respect for authority. Liberals are losing, thereby ok go on last month. You,
A professors publishing up in the Philadelphia require calling for a revival of the cultural script that prevailed in the nineteen. Fifty
and still does among African Americans. Here's a quote from the filled for filling inquiry
these Joe. This is highly highly controversial material. Liberals I'm not kidding Joe the drawing of petitions to get this woman out of the classroom. The professor who wrote this the dean of the universe is right and what is
as the claiming this is this is,
pepper, Aeneas without white supremacy. Therefore, alleging that connection, here's the culture
script? She thinks we should all be talking about, not and not the other alternative to what she says. Very controversial, get married before you
children and strive to stay married for their snake. Oh my
Is she doesn't do that then watch chain
This is not Joe about actually crazy. She says we get a lot of this. One
get the education you need for gainful employment work hard,
avoid idleness of why I do too
I can't listen understand? Did you
there was a comedy skit years ago about the thousand ways to manage the word do. Did you ever see this one? I think there was it's funny. It's like in genoa,
watching a horror movie and is a guy around a corner at it. In a Friday, the thirteenth talking and ask with it with them.
That machete and you're in the house alone and you're ready
peak around a corner near like dirt
cuz you're, afraid he's gonna to be there, but is like two quizzical do like someone says I'm to. I do like tat
the greatest comedy school. This is one of those two really
This is controversial. Let me get this straight. Get married,
work hard, avoid idleness. Ok, wait, there's more more
controversial spoke. This goes to the intellectual vacuum that has become the pathetic disturbing.
Our duty and tea for violent forelimbs. She says
you, substance, abuse and violence. Why this is so. We should recommend what that pay,
take on substance, abuse and crime. I don't issues
eschew substance of other issues
beginning of these. Traditional norms has contributed to today's low rates of our work,
participation lagging educational levels, widespread opiate abuse. The professors argued folks. Liberals are losing their.
There is a petition on one of these college campuses now again to get her ban from tee
into the school said that this is contemporaneous with white supremacy,
I got I got alike like
I really like I deal with with Paul. I get that she gets upset when I do too many
We liberals shows that's gonna break it up. There's a reason here. Folks, there's a why here now
for those of you who will think that
maybe some credibility that I want you to understand that radical foreign left. This understand that what the
author is saying is true: they are not stupid, don't for a SEC,
I'm begging you as illicit my show do not for a second. By into that, the fact that the EU or the up the any assertions that these liberals are dumb. These people are not dumb. They are very bright. They understand exactly what their due
and they understand that the promotion of hard work of marriage, of stable families, of avoiding drug abuse they understood,
but all this stuff will lead to a successful society, but what is it also lead to job? Let me ask you this: what do
but who are poor? Who may not have jobs and people who may not have a high level of education?
people who are some who are dependent on drugs, what is their ultimate
backstop, I mean, did you're a Democrat that what they depend on the state debts.
They just a guy. I should I you know I should marry you always come through for me to close by going to take a little nerve cells. Afraid I wasn't set not upright agar. Has this state, of course?
stay folks. The liberals provoke Bob. I promise
she's me victim biology and victim culture. In other words,
we can't hard work its people work. If you don't work on, it's, not your fault, but where is your fault?
but where is your fault?
I'm really sorry, just like the social security show that drives people crazy. I'm sorry, I'm not here to be ass. You, if you're, a liberal or even of Europe, you know a demo,
leaning left.
Working hard is your fault there
nobody that can make you work hard, but you making
people work already servitude you have to work
Car debt? Is your fault in the middle
liberal star promoting these values. Theirs,
Nobody to blame sucks.
So be it your fault? It's the promotion of the pharmaceutical industry. You know what substances
I'm sorry! I have this. In my family s is very biochemical component to it. Yes is theirs.
Physiological component- yes, but don't worry, I'm not gonna to fall. It's a disease, it is a choice. Ok, I'm sorry! It is a choice,
If there is a disease.
Putting a pill and your mouth or smoking a joint or so
putting cocaine or May mining heroin is a choice:
It is a volitional at the fact that you are
predisposed to do it because of some bio, chemical or biological propensity for addiction in your family. I don't deny that I dont denied
your situation, Joe, is more difficult than others, and I dont for some
their people, just our approach to addiction, no matter how many times you put a couple lines of cocaine in front of them: they're not gonna, doing there's a pie
chemical signal in your head? That debt pushes you and await its I've doesn't push other people. I don't doubt that, and I don't mean to discredit your fight and I'm not judging you don't mistake. This
living through this right now, my family, so I don't need any lectures.
Don't tell me for a second: this isn't a choice. It is a choice. You know folks, my wife's gonna kill me, but it's all right. It's important you matter me. I've got a lot of fights a mile
I've had a ton of him. I really there were areas. I've been very weak in my life and I to this day I it pains me I mean it does
I say to you all the time you know I'm a sinner, because I mean that I may use that term. Very deliberately. I can't
they trying to correct my back. When I get know when I pray, I pray very deliberately IDA. You know I say the our father, because those are the words Jesus gave us in his words mean something, but a lot of my prayers
Extemporaneous but there they their spoken from the heart and I pray constantly Father make.
It better man Amar than I was today. Please move me back to that righteous path because a temptation for envy greed last rage anger. It's always there.
I know I'm not in a position here too, morally lecture any of you, but there are things I
the temptations out there, all the time and folks in his heart. It is really hard to avoid
a lot of this nonsense in your life
Have the matter to you and you have to
a conscious choices you
to make real choices, to do the right thing
and an excuse can't be well all. You know what it's just a guy thing:
or a family thing or a drug saying or a history. Just that's not an excuse, liberals
want to push that excuse on you, because they,
blame it on other people as an avenue to move the state state control back into your life,
that's why they're gone wild over this. That is why they're losing their mind over a woman, highlighting the fact that if you stay married, if you
children and your line, you're Europe, your faithful to your wife, your faithful to your kids, you get your kids in
If you go and school who work hard, the minute you stop,
to propose those values on a massive scale and suggest to people the obvious job, the obvious that this is the path forward,
This is the path to a collective, better future, to steal the less own terms. The idea that this state
Can I help you do that or that you been a victim of some?
dangerous republic getting conservative movement and the liberal democratic state is gonna help you goes away folks. This is a big
Peace, I'll put the peace and shone out. Forgive me.
If it's a subscriber only. I can't help that if the journal I'm not, I don't think it is
being the show no tap on GINO that company it is
really really good
these by Heather Mcdonald and its
comes up to you, why I am so passionate. It gets this fight about above issued before this fight.
Against liberal ideology, because, as
said, do you repeatedly it's not that this victim ology doesn't help people? It doesn't
but for supplying? That's, not the pernicious part of it. I'm worried about its that view.
Homology and liberal ideology active
harms you. It actively hurts people
by promoting the idea.
There's no individual control over their life that they are the victim of
Side circumstances that outside circumstances, those circumstances can only be changed by elected leaders. You know
liberal visionaries using air quotes and politicians
you put all of that aside, and you say to yourself: I'm not working hard,
having taken my marriage seriously. I haven't focused on my kids, I decided to take drugs. I have worked hard in school. I screwed this up. That is the first step towards saying I can fix this.
I can fix this, not Nancy Policy, not Donald Trump,
not Bernie Sanders. Not George W Bush, I can fix, is the only way forward. Folks, it's an impasse.
Peace, liberals are losing their minds over this. For a reason. Don't ever forget when I told them this one, I'm telling you this is really important stuff. I finish
What's your brought you by bodies at my patriot supply? Thank you to everyone who picked up a supply of emergency food. That business has been really do well. Obviously, since the hurricanes focus is really sad me did you see the story on drug problem put a Rico, they ve already get slants as this incredible, my wife is Diana help.
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go just one through the outskirts of Irma. Another gotta get hit by Marie End of drudge, say the soup for super supermarket over there.
This is Porter Rico, we're not talking about the third world here we're talking about Puerto Rico.
Eighty, are u S? Citizens, importer Rico! The supermarkets are look it up.
You think I'm making this up go to dredge today are rationing food. Now.
These are: U S, citizens! This is happening to again. Please
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actually rationing food in supermarkets, importer Rico? What are you
If we get a loss of power, what are you gonna do something like that happens here? Please go pick it up today, prepare within duck
breakfast lunch and dinner? All you need. Is water prepared cause a nice little box thicket your closet? Hopefully you never needed. Please pick it up today, folks be prepared at matters I got so many stories have not done enough to carry moment Marcia by the way.
I'm not going to mention it again. So I in again
My apologies people, don't like me doing.
Promotion for my book am, I shall I actually understands get emails from really support of this is gonna screw those guys you're shall promote whatever you want now. I understand I do I really
You know I don't like knots,
commercials for privacy debate did put a lot of work into the book it. It means a lot to me. It's called protecting the president.
And it is the issue.
Story. Folks are the collapse of the secret service and I wrote it for reason because protecting the press.
The United States, is a bipartisan issue and if you want to
you know you're in law enforcement, and you ve, been a victim of you know miss
diversity politics. All we gonna put that person under protection detail because they're a hispanic
whatever I mean, if it's any kind of that's what happens in the secret service often- and you get
qualified people protecting the president because of diversity initiatives. Now I talk about
things in a book and you know what that a pc, no but their correct, and someone needs to expose these problems before someone gets hurt. I go into the fall of the sea
service from the inside perspective. Please pick it up. Today, it's available today, South bookstores, also on Amazon Bonds, a noble cause protecting the president at the last I'm going to mention it, but I do appreciate, might you're a great audience. You move my boy
from sight. Ten thousand an amateur hunter like three thousand a day. I mentioned that which is pretty good, considered eight million bucks for sale there. So thanks so much folks. I appreciate picking it up all right, so are you
So I get mixed feedback on the economic stories post with this one's really important. All right.
Economics and in a passion about it, but the fact is finally decided on wine is balance sheet now without get to walk about. This is
topic. I bring up often storing them
The financial crisis, the Federal Reserve, decided it
be a good idea. The Federal Reserve Prince our Prince money. It's got Federal Reserve notes, look on the frontier dollars or you're twenty certifies whenever they
monopoly power over printing money, so someone at the fair daughter would be a good idea to print money. I kid you not go out by government bonds, so you
this clause, I government agency, which it is, I don't care what anybody tell
the Federal Reserve. It has a monopoly, prickly, pear money, printing,
going out mean giving the government the money to buy bond, so the government it by so they have about four trillion dollars in bonds. They have to give you exact numbers. They have one point, seven trillion
the two point: four trillion of: U S: treasuries they bought with printed money and one point: seven trillion mortgages. Folks. This is a big deal. It's a big deal
because they're holding onto these mortgage bonds now and these Treasury bonds, and I have
the hard time figuring out what to do with it, so they release the statement.
Recently says: ok, here's what we're gonna do we work up to releasing about fifty billion in these bonds
now, there's a really good example. I read today in
an a peace about what this means- and I have kind of explained before
he's an bangles but the hallmark? It's is better.
Here's. What we're having a real problem right now, so the government,
money, so the government did print money through the FED by its own assets. Imagine if this happened in your neighborhood ripe and what they wanted to do as they wanted to prop up the prices of bonds that forget just this
the. Why believe? For another shout pursuing have a lot of time at the government. The federal government wanted to prop up the prices of bonds
because the prices of bonds or inversely related to interest rates, so by propping up the prices,
They would keep interest rates, love which will make it easy for people to get loans makes sense it
moving invert. They move the opposite right. I know you know what inverse means, but you get my point.
Imagine this if they did this in the real estate mark, is with the bond market. People get confused because prices and interest rates move in the opposite direction. Scrooge people up financial assets, it gets complicated, but imagine this in simpler terms. Let's say that government wanted a proper,
the price of your house,
Fifty percent of the houses in your neighborhood, where Foresail Joe,
Fifty percent of the houses in your neighbour for sale and no one
spying-
prices are going to take a pretty huge tumble, get pretty darn fast.
So is gonna, be like all right. There has been on the market for six months and I want to
I do not want one. Ninety one, eighty, I'm almost sixty. I want what fifty the government said why we got a fixed this. Instead of letting the price signals readjust which it should have, they said we have to fix this price.
Rate problem right now, so we have to butter. Is the bond markets are working to come in and we're gonna buy up those houses to stabilize they? The stabilize the housing market offer great idea. Right sounds one
liberals loved this exhorted some misguided, dopey republicans. You have no idea what you're talking about their like this
great the gun,
it came in Joe bought up all the houses and now it's holding out. Nobody lives there, but a part of it bought them
he asking price to say the fifty percent of how they are wanted. Two hundred thousand dollars so now
Abraham. This is everything's fine,
there, the prices of stabilized? What's that
Joe who was the house? No, not you that the government
Are we going to do with the houses? That's been if I've been bringing this up on the show forever, they have all these bonds just like they have the houses. What are they going to do with the bond? The same thing
do it the houses they gotta get rid of us so now.
Happens when they get rid of the house's Joe bigger,
start selling the house again now all of a sudden, just when Praxis stabilized
Why are all these houses for sale sell my block because
We owe them the government or the so now there,
government is unleashing the torrent of bonds, they're, saying they're going to do
the billion a month which granted I understand here,
here too. The four trillion they are now between were mortgage bonds and treasury bonds is not a lot, but the problem here, Joe
This thing is gonna, screw up and distort the market, because no one's ever done this before understood at this
Nobody knows, what's going to happen,
there's, no historical precedent for this. This was
really bad idea that can only get worse. Here's what's gonna happen here, right now,
when these low interest rates, the problem with because remember prices by trying to stabilize the price you
or the interest rate by trying to bump the price up prices
Aren't you going to move in the opposite direction, for a lot of reasons as prices go up, interest rates go down as interest rates. Go up prices good that so by the guy
I'm trying to keep the price of houses up with the price of bonds. In this case, they kept interest rates low. Now what happened with that the stock market one up or why did the stock market go up?
people could invest in bonds, because the interest rates were low, Joe.
And a prices were high. The intro,
rates were low because the government drove them down because he kept the price up. So nobody so
could there was no yield, so what
people do they survive back and invest in a crappy interest rate applicable to all my money in the stock market. Why
telling you this folks, listen I've this
that investment show K. I don't do it
Advise you know? I be
everything mine investments if, but I bought
little bit a gold. I
little bit in inequities. I got a little bit in the specific stocks in a lot and index funds and a lot of cash right now, because I
very worried that the minute this tape
Our starts to happen and they start to let those houses or, in this case bond, show get back on the market and prices started.
All again and interest
its go up. What are people going to do?
they're going to say well, I can get a higher interest rate and more security by get out of the stock market and go buy in a bond or house instead be careful.
Now tell me what to do your money? Just be careful sex,
This has been absolutely crushing. Savers out there because by their efforts
keep the prices of bonds again. Interest rates go down, prices go up, woman, agent,
rates go down. Sir
version, mostly older folks who are living on fixed incomes, haven't been making a dime. They ve been getting crushed
so this may actually benefit the middle class and savers by interest rates going up, but it has a really really heavy.
And shall be hurt the housing market stock. More just be careful but I'll put that peace,
So an interesting Bloomberg peace output and shone out today. How people have this all wrong economists about this, and you could take a look at its pretty good piece or I ll see what else our one last thing here on that
I got a couple of tourism get to Timor, one on too liberal policies that are just again not helping but blowing up a people's faces, one about trying to get
oh people, low income, housing, that's actually benefiting rich.
I'm builders and that people who would low income, housing, no surprise air and other what about truth. In
Efforts where, though, trying to
out the trees to prevent forest fires in the browser actually causing more forest fires, but that no worries, let's keep it up, but I'm not going
I'm today to hammer those, but I want to finish up with one: maybe this maybe another one to this dark. I think so.
He's dhaka recipients. Yesterday, you see
is Joe. They Nancy Pelagia, liberal Democrats, given a speech in these dark recipients interrupted
each start screaming the idea had on Fox about it this morning. It I just want to say quickly. These
What kind of stupid strategy is this here in the country illegally? That's not in question other tough cases here.
Are human beings issue? Yes, they should be treated as such
here illegally, in violation of the law you invite? You have actual,
broken the law by being in the United States.
Not only are you making demands upon the? U S taxpayer and demands on legal status. When you have you didn't, do it the right way, but now
you're only friend and ally, the democrats- or, I should say, only got hacked Republicans who don't stand for the rule of law either, but you're
only ally whose big, loud boisterous about it in this case Nancy Policy and you attack or to make what kind of dumb strategy I set on foxes morning do not afford them
General chess is decided strategic brilliance, one dimensional checkers isn't. This is possibly the dumbest strategy. I've ever heard my life. Let's go
down Nancy Policy and a political rally. Good move like me why I really needs to be done
you ve done to your causes incalculable and what more or less,
that was interesting from actually yesterday. Skies
no political guy who started this website.
They have a Nemo was that other email is today they say, listen, there's a problem, develop
around trot. But I found this interesting. I've heard this on a few conservative with serves I e mail. This I am on
They said Joe, who surround tromp right now, is more important than who surrounded people president's in the past, and now I'm not saying it's their sing sing. Listen he's not, I think, every
it gets us he's, not ideological tromp he's a deal.
He's not ideological on die, hard ideological conservative. He was a democratic one point, but how
not ideological there's, not really strong ideological underpinning he's a deal make we want to get things done, so the play
as if it is who we surrounds himself with is more important than it was in past presidents, because the last person basically to leave the room can infer
when someone direction at the president's would have got.
The fear amongst some conservatives out there is at the last person leaving the room are saying things to him than are not conservative. You know you'll, give TAT
cuts to the ridge we have to get these dhaka, kids taking care of, so that they are saying that they did.
Archer of banning and a lot of these you know my
Flynn early on a lot of these people, who would have been associated with conservative, but maybe populism to in some respects that, then, being God, is
the establishment in charge they bring up. One other point on that: they stated
can you see it because the only time you
see Trump tweeting things that do not aligned with what the establishment wants him to right now is
their hours. When he's not
basically in the White House he's in the residents and the media manager over their dance. Greenow, who is it was not establishment. Guy is speed
we control Twitter account, so the point is trying to make is that the White Ass may be taken over by swamp rats and after
where's. The media account is a reflection,
Sk Vinos more and not at the establishment thou leanings. I just found out really interesting how axioms pointed that out and folks. The departure
it may not have been may have been a really bad thing for us. We need some. I don't agree
leave on everything, especially trade approach, but
cabin and ate the establishment voice in the White House would have been important and, frankly folks, don't really are many left anymore. So
taxing effort you today? I really appreciate a fox. I will see you are just ten bond GINO. She did more than all mine in time and conservative review Don com. You can also get dance, podcast zone, Itunes or sound cloud and follow then on twitter. Twenty four seven at De Bonn, GINO.
Transcript generated on 2020-03-04.