April 11, 2025 • 32 mins
What everyone is missing about the tariff fight…China!
It has been a wild week on Wall Street, driven by White House tariff policy. Does President Trump care about the markets? What should YOU do to protect your investments? JARED DILLIAN is a best-selling financial writer who spent part of his career on Wall Street and is also an active investor.
Some of President Trump’s advisors are reportedly split on supporting his tariffs. White House Correspondent JON DECKER has just spoken with the Secretaries of Agriculture and Interior.
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Episode Transcript
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Speaker 1 (00:00):
Hi, it's Michael.
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your question and you got thirty seconds to make a
(01:01):
comment and make your voice hurt. Can't have your morning
show without you. Six people are dead, a family of
five from Spain, including three children, and the pilot and
helicopter crash into the Hudson River. Speaker Mike Johnson says
the House and the Senate will continue working over the
coming weeks to get President Trump's budget plan in place
and stock futures they're up in pre market trading after
(01:24):
Wall Street had another dip yesterday. Jared Dillion is a
best selling financial writer who spent part of his career
on Wall Street and is also an active investor, is
joining us. Jared, this has been a pretty crazy week.
Like a mouse on a wheel. I'm ready to get off.
(01:44):
What do you make of what we've just experienced this
week and what may lie ahead when the market opens today.
Speaker 4 (01:50):
Yeah, I am exhausted. I went to bed at eight
thirty last night.
Speaker 1 (01:59):
Yeah, to say good for you, I didn't make eight thirty.
Speaker 4 (02:04):
I mean everything, everything went to hell when the reciprocal
tariffs were announced. The markets were down eleven percent in
two days, which has only happened four times in history,
and one of those was during the Financial Crisis, and
one of those was during COVID. You've also seen some
(02:26):
big moves in other asset classes. Bonds. Treasury bonds have
become totally unglued uh and people are speculating that China.
You know, China has about eight hundred billion treasury bonds.
People are speculating that China is selling them to retaliate
for the tariffs, which is driving interest rates up. You
(02:49):
also have the dollar, which was doing fine for a
while but in the last two days has completely collapsed.
The dollar was down about two percent yesterday, which is
a huge move for currentrencies, and it's down about another
percent today. So, yeah, it's going on.
Speaker 2 (03:04):
So you think you've had a bad week. I think
I've had a bad week. How would you like to
be in the mortgage business? What do you think they're
with with all this bond craziness. What do you think
their week was?
Speaker 5 (03:15):
Like?
Speaker 4 (03:16):
Yeah, probably the refis have dried up, I imagine, and
new purchases. Yeah. I actually have a couple of friends
here in my neighborhood who are appraisers, you know, so
they're watching ten year interest rates very closely. But look,
like you know what, I think I think that this
is going to be temporary. I do think stocks are
(03:37):
going to rebound pretty close to the highs. I think,
you know, ten year interest rates are going to get
pretty close to four percent, and this is going to pass.
What I'm concerned about is six to nine months from now,
if we if this actually does develop into a recession.
So that's my concern.
Speaker 1 (03:59):
Jared Diillion joy us, all right, so.
Speaker 2 (04:02):
Talk to us about because we do all think this
is going to be short term, although there is a
chance of a because I don't call the whole thing
a trade war. I think there's been a tariff battle
that is turning into a trade war with China. So
what I want you to dust out is if you're
(04:24):
looking down the horizon and you see this somewhat being
temporary for most of the conversation, But if the tensions
with China continue and it's a trade war, and they
start doing things you do in war, like one of
their weapons is selling off bonds, how do you see
that playing out? And I guess what I'm really asking
is if there's a trade war between the US and China,
who has more to lose?
Speaker 4 (04:45):
But China definitely has more to lose. For sure. We
import a lot more from China than they import from US.
So what Trump is trying to do. This is the
best way I can explain it. You know, Reagan gets
credit for inkrupting the Soviet Union back in the eighties
when we got into an arms race and there was
(05:05):
ridiculous amounts of defense spending and we ran up the
debt and we bankrupted the Soviet Union and the Berlin
Wall fell down. And Reagan has an airport named after him.
You know, that's he's a hero. So what I think
Trump is trying to do is something similar with China.
I think he is trying to you know, China is
already in a deep recession. They have a real estate crisis,
(05:29):
their industrial base has shot, they have terrible demographics. They're
in a recession, and he is trying to drive them
into a depression. And the reason he's trying to do
that is to weaken their military. He's trying to cut
back in their military spending. And I actually think I
think it might work. You know, I don't think that
the intent was ever to put tariffs above ten percent
(05:53):
on every country in the world. I don't think that
was the intent. I think this was about China all along.
Speaker 2 (05:58):
We had a conversation with an other financial expert, and
we were talking about what is being sold by the
White House, and my gut happens to be like yours
with the President on this, but you know, others got isn't.
But I think what the President is doing is you
got China that's been taking terrible advantage of us.
Speaker 1 (06:20):
He expects that from our enemies.
Speaker 2 (06:22):
It's our friends that have been taking advantage of that
he wants to address as well. I think that he
could have found a probably better way to do it
than all at once, but he did, and then he
went with the ninety day pause and everything seems, you know,
seventy five countries are lined up. The question becomes, is
this isolating China from the rest of the world. Has
(06:43):
he pulled that part off? Because that's going to be
key You don't want to wake up and Europe's doing
more business with China than with us kind of a thing.
Has he effectively isolated this to China? And if so,
and in timing of their recession, is he marched down
the road the Ronald Reagan marks with the Soviet Union
(07:03):
in the same way.
Speaker 1 (07:05):
How do you see that playing out? I think it's
I'm not you know, I'm more of.
Speaker 4 (07:09):
A financial analyst, I'm not really a geopolitical analyst.
Speaker 1 (07:12):
But I don't think he's I don't think.
Speaker 4 (07:14):
He's isolating China necessarily. I don't think that, you know.
I mean, look like China is going to trade more
with Europe and with Australia than with US, for sure,
But I don't, you know, I honestly think this is
going to work. I really do, and look like I
(07:34):
am a free trade guy. Like you know, I'm a libertarian.
I'm a free trade guy. Trade benefits everybody. This is
why our standards of living have risen so much since
the eighteen hundreds is because of free trade. But in
this particular instance with China, I look, they are they
are an existential threat. Chi Jingping. I think if he
(07:57):
had the ability, I think he would want to rule
the entire planet, and incrementally, I think that's what they're
going to try to do. So I think it's I
think it's good that we're putting these tariffs on them.
Speaker 2 (08:07):
So for the longest time, I mean that we go
back in time and the trade, the trade disparity was
leaning our way. Now it heavily leads China's way, and
with all that money they've been a building their military
and b buying our debts. So this is something that
does need to be addressed. All right, so let's let's
bring this all full circle. Jared Billion joining US best
(08:29):
selling author, financial writer, worked on Wall Street, also an
active investor. Talk to the investors out there. We knew
this was going to be short term pain for a
long term gain. This week was crazy, and people experience
the short term pain. What should they do to protect
their investments?
Speaker 4 (08:45):
Definitely, you want to diversify into other asset classes. If
you have a portfolio that is one hundred percent stocks,
that is a very fragile portfolio, and you were experiencing
a lot of volatility, you want to diversify into bonds.
You want to diversifying to gold, you want to diversify
into real estate. You know, the conventional wisdom is is
(09:08):
that you should have a sixty forty portfolio, maybe an
eighty twenty portfolio. And people are perfectly comfortable with this.
They're like, sure, eighty percent stocks, no problem, that seems
nuts to me. If I suggest to somebody that they
should have twenty percent gold in their portfolio, they're like,
oh my goodness, that's too risky. How can you have
twenty percent gold in your portfolio. I'm like, look, it's
(09:29):
actually less volatile than stocks. So, you know, I think
there's there's sort of this cult of stock ownership in
this country. You know, fifty percent of households a little
over fifty percent owned stocks at this point, and it's
because they're easy for people to understand and trade. But
you know, I disagree with it.
Speaker 1 (09:49):
Oh yeah, you got to have a pun, got to
have a portfolio.
Speaker 2 (09:53):
But the for the volatility that we are experiencing too,
would you be I mean I said this earlier in
the week when the market crashed after the announcement. I
was like, man, if I had a million dollars, I'd
be investing eight hundred thousand. I put two hundred thousand
on the Gators in the National championship and eight hundred
thousand on the market because it will all recover eventually.
Speaker 1 (10:13):
I mean, I guess, I guess address panic too.
Speaker 2 (10:16):
Even for whatever percentage stocks are in their portfolio.
Speaker 1 (10:19):
Address panic.
Speaker 4 (10:21):
Well, you're allowed to panic, but if you panic, you
have to panic before everybody else does. So now it
is too late to panic.
Speaker 1 (10:31):
It is too late.
Speaker 2 (10:33):
That's pretty wise, pretty wise way of saying it all right, Well,
it's been a crazy week. Thanks for sharing your insights
with us. If they want to get your book, where
can they find it?
Speaker 4 (10:44):
The book is No Worries how to Live a stress
Free Financial life. You can find it on Amazon. It
wasn't bookstores for a while, but I think it's pretty
much out of bookstores at this point, so you can
get it off Amazon.
Speaker 2 (10:55):
Jared Dillion, thank you so much for joining us this morning.
Appreciate it all right. Ten minutes after the hour and
we don't know what today has in store for us
in this crazy week. I can tell you that the
pre market trading futures look up, so there was a
great buyback on the pause announcement. There were some people
(11:16):
that wanted to take their wins, which caused a down
market yesterday. How much will were covered today? How much
will the futures influence the way the market closes? Only
time will tell. But I love Jared's line, if you're
panicked now, you panic too late? Write it out, baby.
Speaker 3 (11:33):
It's your morning show with Michael del Jarno.
Speaker 2 (11:38):
Heading towards a palm Sunday and not too far off
in the distance.
Speaker 1 (11:42):
Attacks Tuesday This is your morning show on the air
and streaming live on your iHeart app. I'm Michael del Journal.
Good morning, Welcome to Friday.
Speaker 2 (11:50):
Well Speaker Mike Johnson says the House and Senate will
continue to work over the coming weeks on President Trump's
budget plan.
Speaker 6 (11:57):
The House narrowly passed a revised blueprint for the budget
on Thursday morning. We have a responsibility to get our
country back on a sound fiscal trajectory. Afterward, Johnson said
committees from both chambers would be working collaboratively over the
two week recess to find more savings. The House approved
plan would raise the debt limit, cut taxes, and increase
spinning on defense and immigration enforcement. House Minority Leader Hakim
(12:18):
Jeffries voiced his opposition to the budget resolution, calling it
a disgrace.
Speaker 2 (12:22):
I'm Mark Neyfield. Want to torture yourself. Look at this
beautiful family posing in front of a helicopter before a
tour of the Statue of Liberty and the skyline of Manhattan,
and then know that the family of five from Spain,
including three children, along with the pilot of the helicopter
of the tour, all died and the cause not exactly known,
(12:46):
just that the helicopter began to fall apart over the
Hudson River.
Speaker 5 (12:50):
A family from Spain was on the BILL two o
six chopper along with the pilot from New York helicopter
to view sites along the Hudson when the choppers started
falling apart.
Speaker 1 (13:00):
So I was just walking.
Speaker 2 (13:01):
I heard like a weird noise, and when I looked up,
I just saw it falling from the sky, and I
just saw a big splash in the river.
Speaker 5 (13:07):
Dozens of first responders, including divers and scuba teams, were
in the cold, murky water within minutes, but then YPD
Commissioner Jessica Tish said the pilot and passengers could not
be saved.
Speaker 6 (13:19):
Four victims were pronounced unseen and two more were removed
to local area hospitals were sadly both succumbed to their injuries.
Speaker 5 (13:28):
I'm Sarah Lee Kessler.
Speaker 2 (13:30):
The trial of the so called Doomsday Mom got back underway.
Speaker 5 (13:34):
Lisa Taylor has more Rory Valo da Bell as accused
of conspiring to kill her fourth husband in twenty nineteen.
Her brother Adam Cox, took the witness stand Today. Valo
da Bell is representing herself in the case. She was
found guilty in Idaho in twenty twenty three of murdering
her two young children and conspiring to murder her husband,
Chad day Bell's first wife. At her first trial, witnesses
(13:54):
described how she believed some people were zombies or possessed
by evil spirits.
Speaker 1 (13:58):
I'm Missa Taylor.
Speaker 2 (14:00):
Kay Junior is claiming new research could help discover the
cause of autism and by September.
Speaker 7 (14:06):
The Secretary of Health and Human Services made the comment.
Thursday at a White House cabinet meeting, Kennedy told President Trump, quote,
We've launched a massive testing and research effort that's going
to involve hundreds of scientists from around the world. Kennedy
has reportedly hired a long time figure in the anti
vaccine movement to lead the research effort. Multiple studies have
found no link between autism and vaccines. I'm Tammy Triheo.
Speaker 2 (14:28):
A new study suggests that hearing loss can increase your
risk of heart failure.
Speaker 1 (14:32):
Michael Cassner reports.
Speaker 3 (14:33):
Researchers at the UK Biobanks say they've found that those
with mild hearing issues had a fifteen percent increased risk
of heart failure, while those with poor hearing had a
twenty eight percent increase risk of heart failure. Experts believe
the isolation caused by hearing issues may lead the heart problems.
They say it's also possible that heart issues may affect
(14:54):
blood vessels in the air. I'm Michael Cassen boy Justin
Rose hit the ground running at a gust a seven
under par. He's your leader after the first round. Heading
into round two today.
Speaker 2 (15:04):
Scotty Scheffler, who is my pick to click and defend,
is just three back at four under par, along with
Corey Connors and Ludovig oberg All at four under par,
Bryson d Schambeau at three underd not far back Freddie
Couples at sixty five one under par.
Speaker 1 (15:20):
In the opening round.
Speaker 2 (15:21):
Rory got to four under, and you know, you just
sense that, Rory, there's so much pressure to get this
first green jacket, to complete this Grand Slam, and golf
is just not a game that you can play in
your head. A couple bad breaks, two double bogies, he
ends at even par. Smeeth and Thomas are at one
(15:42):
over par, and Lefty Phil Mickelson three over par. The
Live Tour, with the exception of d Chambau at three
under not performing well at the Masters.
Speaker 4 (15:53):
Hi, my name is Bern Aaron and my morning show
is your Morning Show with Michael del Jorno.
Speaker 2 (16:05):
Hey, it's Michael. I'm so glad you found the podcast,
and don't forget. You can listen to your morning show
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Speaker 1 (16:19):
Just to name a few.
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You can find that your morning show city closest to
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Speaker 1 (16:27):
Enjoy.
Speaker 2 (16:27):
If you miss the show live, you can catch up
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Speaker 1 (16:41):
That way, whether.
Speaker 2 (16:42):
We're live or after the fact, we're just to touch away.
I thought that was an interesting conversation with Jaredillion. He's
the first to bring up the existential threat that is
China and a strategy that could be right up there
with Ronald Reagan bankrupting the Soviet Union in the Cole
War by catching them at a time of recession and
making things painful. I'd love to hear your talkbacks on that,
(17:06):
also what you made of those polls, which, by the way,
the interesting part about that one poll is the support
for every one of the President's tax cuts. Therefore, the
only presumptive assumptive reason to oppose it is it's attached
to Donald Trump. We played a piece that's going to
be in our Sounds of the day of Hillary Clinton
(17:27):
talking about what to do with the legals who commit crimes.
Donald Trump's not doing anything crazy and strange and disruptive.
That's just how far the left and the right hasn't
meant what they've been saying, or have shifted away from
what they were saying. The polls of plenty were very revealing,
So in the podcast section, you're going to appreciate that.
(17:47):
In the first hour, all right, if you're just waking up,
RFK Junior, our health secretary, says he's putting together a
team that will determine the cause of autism, and he
anticipates being able to have some pretty meaningful answers by
as early as September, a family of five from Spain,
along with a pilot, all crashed and died in their
helicopter in the Hudson River. Yesterday. Tragic to watch. The
(18:10):
stocks went down again. Futures say they're going to head
back up again. It's been a crazy wild ride. As
for inflation, you know, we always say you elected the
president to secure the border and the invasion and restore
law and order.
Speaker 1 (18:28):
Well he did that lickety split.
Speaker 2 (18:30):
You also hired him to bring down inflation and bring
down cost of living. He would suggest that this tariff
strategy is addressing that. Some would like to make the
case it's making things worse when it comes to inflation.
I thought maybe the left would say, well, it was
(18:50):
already coming down because of the great work of Joe Biden.
But everybody knows Joe Biden wasn't president, so I guess
they don't want to go there. So what they're trying
to do now is just gaslight you into thinking, well,
you elected the president to address inflation and it's getting worse.
We'll have this again in our sounds of the day.
(19:11):
But for those of you listening now on your way
to work, I wanted you to hear it, because you
know what happens to narratives, They all die of reality.
Speaker 1 (19:19):
Eventually.
Speaker 4 (19:20):
Trump promised that he would lower costs in fact on
day one, But what we've seen under his reckless leadership
is that costs aren't going down in America.
Speaker 1 (19:29):
They're going up. Inflation is going up.
Speaker 8 (19:31):
Breaking moments ago, brand new numbers showing inflation fell last
month much better than expected. So this was actually a
drop of point one percent negatives point one percent. That's
the first time we've seen that since COVID is COVID,
and somewhere Hakim Jeffreys is.
Speaker 1 (19:48):
Saying, disregard that and stick to the narrative.
Speaker 2 (19:51):
Well, some of President Trump's advisors are reportedly a little
bit split on this whole terriff situation. Not that there's
anything wrong with that, I mean, differences are certainly acceptable
in finding consensus, but it does beg the question, is
this one of the first chinks in the unity armor
of the Republicans and especially the tight group that makes
(20:15):
up this cabinet. Well, the one who follows him in
the room is our White House correspondent John Decker.
Speaker 1 (20:20):
John, are you sensing some splitting from who?
Speaker 9 (20:24):
Well, you don't see yesterday with the cabinet meeting that
the President had, you certainly didn't see it there. I
mean they were praising the president as they went around
the table. You saw that, Michael. But as it relates
to an outside advisor, Elon Musk, he's not one.
Speaker 1 (20:39):
Hundred percent on board. You know that.
Speaker 9 (20:40):
You saw that battle if you want to call it
that on social media between Peter Navarro, the trade.
Speaker 1 (20:47):
Advisor to the President, and Elon.
Speaker 9 (20:49):
Musk that you know, sort of went out into the open,
some insults traded by each of them. But the President,
you know how he is. He's comfortable with that. He
kind of likes that to a certain extent. But you
know that it's not changing the President's mind.
Speaker 1 (21:05):
In any way. You know, he's still.
Speaker 9 (21:07):
A one hundred percent tariff person, even though he's put
this ninety day.
Speaker 1 (21:11):
Pause in place.
Speaker 9 (21:12):
He also indicated yesterday that if countries don't reach a
deal with the US during this ninety day period, the
teriffs CDD announced in the Rose Garden last week they
will go back into place against those particular countries goods.
Speaker 2 (21:27):
This is irrelevant to waste your time with, but for
those that are in new markets and just learning what
the show's about. I'm very partisan, not politically partisan. I'm
not a Republican or a Democrat. I stopped being a
Republican because they failed to live what they believe. They
talk a good game, but they don't do it. Democrats
do what they say, and everything that they do and
(21:47):
say is anesthetical to my worldview and my policy views.
So but I have to tell you, watching the cabinet
meeting yesterday, and.
Speaker 1 (21:56):
I'm very interested.
Speaker 2 (21:57):
Don't feel like you well, you never feel like you
have to agree with me, But watching these people, I
mean from Tulsi and I specifically point to Tulsi Gabbard
and RFK Junior because they were both Democrat presidential candidates,
But I mean, everybody is just so on point, so
on focus. They're so in command of their department and
what the agenda is and where they're at and what
(22:18):
they're achieving and what they're doing next.
Speaker 1 (22:20):
I mean, you've you've probably.
Speaker 2 (22:22):
Been in a situation where you work for a not
so good company and you can really feel in a
department head meeting, and when you're working for a really
good company, you can sense that in a department and meeting.
These cabinet meetings. I guess because we're seeing them in full.
But they've been very impressive to me, I mean, everybody,
it looks different than previous cabinet meetings. What are your thoughts,
(22:44):
I mean, you've seen eight problems.
Speaker 1 (22:45):
I thought to this. You know, when president I've.
Speaker 9 (22:48):
Covered the president, the presidency, the Office of the President,
the White House since Bill Clinton's first term, and we
typically were not privy to what happens during a cabinet meeting.
But with Donald Trump we are. And he did this
in his first term. Go it went around the table,
allowed all of his cabinet secretaries to speak about what's
(23:09):
happening at their particular department or agency. And what we
see with President Trump is some of these cabinet officers
praise the president to the hilt in front of the cameras.
You know, you say that it's your view that it's
a good thing. There are some things that say, you know,
maybe they're you know, smooching somebody's behind, you know, a
(23:31):
little bit too much in front of the cameras. But
in any case, you know, you don't see any dissension
during those cabinet meetings, that's for sure, nor should you,
no matter who the president is. And the president likes that,
and so I think that's one of the reasons why
he allows the cameras into the start of his cabinet
meetings with his cabinet officers.
Speaker 1 (23:48):
I don't have to tell you.
Speaker 2 (23:49):
You study history as much as me, and you're an attorney,
but they used to be constitutionally all you're required to
do is do a report to Congress, and then it
became an actual speech, and then it became a television
event that has done annually. Do you think we might
start seeing more cabinet meetings in the future because of
Donald torm Is this going to be a Trump phenomenon.
Speaker 9 (24:11):
Only well, you know, again, like I said, this happened
in the first term, so it's not new. I've been
in the cabinet room when the president has these meetings,
you know, for an hour and a half while everybody
goes around the table and says there two cents. You know,
that's what the president likes to do.
Speaker 1 (24:28):
And yeah, that will certainly continue during the course of
his second term in office.
Speaker 2 (24:33):
All right, last question is I know you need to
go It's not just Elon Musk. We have a pretty
esteemed economist that joins us every week, and he's very
much on Trump's side, but he also is very concerned
about certain advisors and tactics that they're using. So while
the want the riff between Navarro and Musk was certainly public,
(24:54):
I suspect there's a lot of people that have some
differing views.
Speaker 1 (24:58):
How widespread do you think this is?
Speaker 9 (25:01):
Well, they keep their thoughts to themselves in front of
the cameras.
Speaker 1 (25:05):
Maybe they provide that advice to the president. You know.
Speaker 9 (25:07):
Certainly, the individual that has the most experience on Wall Street,
the most well respected on Wall Street is Scott Besant,
the Treasury Secretary. I think he lets his feelings be
well known to the president, and he also passes along
what he's hearing from his former colleagues on Wall Street
who are not pleased with this terrorist policy, feel that
(25:28):
it could possibly lead to a recession by the end
of this year, and certainly could lead to an uptick
in inflation and a slowdown and growth.
Speaker 1 (25:36):
All of that is conveyed to the president.
Speaker 9 (25:37):
I think all of that, actually, Michael, is one of
the reasons why the President put this ninety day pause
in place. Just the other day.
Speaker 2 (25:44):
What a crazy week, I know, you're a tennis guy,
but seriously put the masters down and take a nice
long nap on the couch. You've learned a very busy
John Decker. God bless you have a great week. We'll
talk again next week.
Speaker 9 (25:55):
All right.
Speaker 2 (25:56):
If you're just waking up, here are your top five
stories of the day. Over three hundred student visas are
being revoked by the Trump administration as it cracks down
on immigration.
Speaker 1 (26:05):
Mark Mayfield has the details.
Speaker 6 (26:09):
Secretary of State Marco Rubio says it's a privilege to
go to school in the US.
Speaker 1 (26:13):
If you come to.
Speaker 2 (26:13):
This country as a student, we expect you to go
to class and study and get a degree.
Speaker 6 (26:17):
If you come here to like vandalize a library, take
over a campus, and do all kinds of crazy things,
you know, we're going to get rid.
Speaker 1 (26:23):
Of these people.
Speaker 6 (26:24):
Some international students have seen their visas taken away for
allegedly supporting terrorist organizations. Others have had theirs reportedly revoked
for things like traffic lanolations. It comes as colleges watch
immigration databases to see if students are still allowed to
be in the US. Last month, Rubio said a couple
of hundred visas were revoked and more would be happening
every day by Mark Mayfield.
Speaker 2 (26:43):
The search for survivors has ended after this week's tragic
roof collapse at a nightclub in the Dominican Republic.
Speaker 10 (26:49):
Breaking into tiers at times. The head of the Dominican
Republic's Emergency Operations Center said Thursday would be the last
day of rescue and recovery efforts at the jet Set
nightclub in the capital, Santo Domingo. In the early hours
of Tuesday morning, jet Set's roof collapsed with hundreds inside.
(27:09):
The death toll has now risen to at least two
hundred and twenty one people, including two former Major League
Baseball players, a local governor, and marangue artist Ruby Perez,
who was performing at the time. Iras Meitzer, San Francisco Rfkay.
Speaker 2 (27:25):
Junior Health Secretary, is claiming new research effort is underway
to discover the cause of autism, an he thinks we
can get some answers by September.
Speaker 7 (27:33):
The Secretary of Health and Human Services made the common
Thursday at a White House Cabinet meeting. Kennedy told President Trump, quote,
We've launched a massive testing and research effort that's going
to involve hundreds of scientists from around the world. Kennedy
has reportedly hired a long time figure in the anti
vaccine movement to lead the research effort. Multiple studies have
found no link between autism and vaccines. I'm Tammy Trihillo.
Speaker 2 (27:55):
Well, the President paused his tariffs on the European Union
and the euro Opinion Union has counter paused their tariffs
for ninety days.
Speaker 1 (28:05):
Michael Castner has the details.
Speaker 3 (28:06):
It comes after President Trump announced the ninety day pause
yesterday on some tariffs. Yesterday, the EU voted in favor
of a package that was meant to respond to US
tariffs on steel and aluminum that were put in place
last month. He US retaliatory tariffs were meant to go
into effect on April fifteenth. European Commissioned President Ursula vonder
(28:26):
Land said they want to give negotiations with the US
a chance. I'm Michael Cassner.
Speaker 2 (28:32):
Val Kilmer's official cause of death has been released. The
Los Angeles medical officials listed his immediate cause of death
as pneumonia. Several underlying factors, including respiratory failure and cancer
also listed.
Speaker 1 (28:46):
This is Your Morning Show with Michael del Chrono.
Speaker 2 (28:50):
This has been a crazy week. But at least we
went through it together. We got to live it together,
understand it together, anticipate tomorrow together, no matter how it
turns out, no matter how well we understand it, just
going through it together. There's something comforting and powerful and
(29:10):
bonding about that.
Speaker 1 (29:12):
And I hope you're feeling the same way. We're going
to get to a couple of talkbacks here in a second.
Speaker 2 (29:16):
I got an email at Michael d at iHeartMedia dot com,
which is another way to communicate with us, addressed to
Pizza Boy. I guess I can thank forty seven for that.
He'll be along in about fifteen to twenty minutes, Pizza Boy.
The shows just keep getting better. I have followed Jared
for years on the financial interview website Real Vision. He's
(29:37):
a heavy hitter. Good job, great job this morning. I
appreciate that you keep adding contributors to the show and
bring on people with original opinions about world affairs, financial markets,
and the economy.
Speaker 1 (29:48):
Love the show.
Speaker 2 (29:49):
Exclamation point, exclamation point, Grant and Memphis And he said, ps,
which of Dw's cars during his career did you like
the most. I'm probably going to pick the Tide because
it was a Henderson and because I've actually seen it
in person. Probably the Tide ride number seventeen, But I
wonder what most people would.
Speaker 1 (30:10):
Say the eighty eight gator Rade probably I don't.
Speaker 2 (30:13):
Think eighty eight Gatorade, but the Tide was probably the
most iconic.
Speaker 1 (30:17):
Yeah anythink yeah? For me?
Speaker 2 (30:19):
Well, for me, the greatest throw was when he gave
me an uber ride home from a wedding car and
then he's giving me tips kids today. You know they're
doing nine to three o'clock or ten at two o'clock.
I always like the eleven o'clock. Here's why. Just point your fist.
The car is going to go where your fisted. And
I'm thinking to myself, I'm getting an uber right now
(30:41):
from the great one Darryl Waltrip.
Speaker 10 (30:42):
Does he have a piece of tape in the middle
of a steering wheel first of car?
Speaker 2 (30:46):
No? But won you know Andrew who makes every ride
with me like a near death experience.
Speaker 1 (30:50):
I don't know. I've never had an accident.
Speaker 2 (30:52):
The only time I got in an accident, I was
parked on the Interstate and a guy went eighty miles
an hour into the back of me. I had nothing
to do with it other than well, last thing I
saw was smoke coming from his tires and then I
woke up. But you know, but every time I'm driving,
she's hanging on like we're gonna die at any minute.
Speaker 1 (31:09):
But when Daryl was driving, she was just a relax.
Oh yeah, I said, why don't you you know? Ak care? Well,
he's gio.
Speaker 2 (31:15):
Oh I've never felt safe for he professional and he
went the speed limit, which was kind of boring. All right, talkbacks,
that's the other way to take your place here at
the kitchen table.
Speaker 1 (31:26):
This morning, we got a couple of quick reactions. Good morning, gentlemen.
Speaker 11 (31:30):
Just want to comment on your last guest, the financial expert.
Speaker 1 (31:34):
Didn't catch his name. I'll go check his book out, but.
Speaker 11 (31:37):
It's great to hear different views, especially with financial situations.
It's very subjective. Also, I just want to thank you
guys for a really good week. Shows were great. Have
a great weekend, and I will listen to you next week.
Speaker 1 (31:53):
Was that Roger at Zakramento? Yes? How do I know that?
Speaker 2 (31:57):
Either he calls too much or I really like him
one of them.
Speaker 1 (32:03):
I've got Blaine. Good morning, Michael.
Speaker 12 (32:05):
I'm calling from Iowa again. But it's funny every time
you hear Hakeem Jefferies talk, he sounds like, well, his
true calling was car salesman apparently, but he couldn't do that.
So now he's doing what he does. But every time
he says something, you know, he's.
Speaker 1 (32:20):
Way off base.
Speaker 12 (32:22):
He's coming from center left, but or centered down. I'm
not even sure anyway.
Speaker 1 (32:27):
That would be far left. We're all in this together.
This is Your Morning Show with Michael Ndheld Joe Now
Hi, it's Michael.
Speaker 2 (00:00):
Your morning show can be heard weekday mornings in great
cities like Tulsa, Oklahoma City, Oklahoma, Memphis, in Nashville, Tennessee,
and we got you covered in California, San Diego, Los Angeles,
San Francisco, Sacramento. We'd love to be a part of
your morning routine. We're thrilled you're here. Now enjoy the podcast.
Speaker 1 (00:18):
Starting your morning off right.
Speaker 3 (00:20):
A new way of talk, a new way of understanding
because we're in this together.
Speaker 1 (00:27):
This is your morning show with Michael o'del chouma. Well,
thank you, Mike mccannon.
Speaker 2 (00:32):
Your morning show is not a clever marketing slogan, it's
a reality.
Speaker 1 (00:37):
We can't have your show without your voice.
Speaker 2 (00:40):
Many ways to make yourself heard here at America's kitchen table.
You can email Michael Di at iHeartMedia dot com. That's
Michael d. We spare you the spelling of del jorno
Michael Di at iHeartMedia dot com. Or there's the talkback button.
Using your iHeart app to see a little microphone press it.
We'll count you down three two one. You can ask
your question and you got thirty seconds to make a
(01:01):
comment and make your voice hurt. Can't have your morning
show without you. Six people are dead, a family of
five from Spain, including three children, and the pilot and
helicopter crash into the Hudson River. Speaker Mike Johnson says
the House and the Senate will continue working over the
coming weeks to get President Trump's budget plan in place
and stock futures they're up in pre market trading after
(01:24):
Wall Street had another dip yesterday. Jared Dillion is a
best selling financial writer who spent part of his career
on Wall Street and is also an active investor, is
joining us. Jared, this has been a pretty crazy week.
Like a mouse on a wheel. I'm ready to get off.
(01:44):
What do you make of what we've just experienced this
week and what may lie ahead when the market opens today.
Speaker 4 (01:50):
Yeah, I am exhausted. I went to bed at eight
thirty last night.
Speaker 1 (01:59):
Yeah, to say good for you, I didn't make eight thirty.
Speaker 4 (02:04):
I mean everything, everything went to hell when the reciprocal
tariffs were announced. The markets were down eleven percent in
two days, which has only happened four times in history,
and one of those was during the Financial Crisis, and
one of those was during COVID. You've also seen some
(02:26):
big moves in other asset classes. Bonds. Treasury bonds have
become totally unglued uh and people are speculating that China.
You know, China has about eight hundred billion treasury bonds.
People are speculating that China is selling them to retaliate
for the tariffs, which is driving interest rates up. You
(02:49):
also have the dollar, which was doing fine for a
while but in the last two days has completely collapsed.
The dollar was down about two percent yesterday, which is
a huge move for currentrencies, and it's down about another
percent today. So, yeah, it's going on.
Speaker 2 (03:04):
So you think you've had a bad week. I think
I've had a bad week. How would you like to
be in the mortgage business? What do you think they're
with with all this bond craziness. What do you think
their week was?
Speaker 5 (03:15):
Like?
Speaker 4 (03:16):
Yeah, probably the refis have dried up, I imagine, and
new purchases. Yeah. I actually have a couple of friends
here in my neighborhood who are appraisers, you know, so
they're watching ten year interest rates very closely. But look,
like you know what, I think I think that this
is going to be temporary. I do think stocks are
(03:37):
going to rebound pretty close to the highs. I think,
you know, ten year interest rates are going to get
pretty close to four percent, and this is going to pass.
What I'm concerned about is six to nine months from now,
if we if this actually does develop into a recession.
So that's my concern.
Speaker 1 (03:59):
Jared Diillion joy us, all right, so.
Speaker 2 (04:02):
Talk to us about because we do all think this
is going to be short term, although there is a
chance of a because I don't call the whole thing
a trade war. I think there's been a tariff battle
that is turning into a trade war with China. So
what I want you to dust out is if you're
(04:24):
looking down the horizon and you see this somewhat being
temporary for most of the conversation, But if the tensions
with China continue and it's a trade war, and they
start doing things you do in war, like one of
their weapons is selling off bonds, how do you see
that playing out? And I guess what I'm really asking
is if there's a trade war between the US and China,
who has more to lose?
Speaker 4 (04:45):
But China definitely has more to lose. For sure. We
import a lot more from China than they import from US.
So what Trump is trying to do. This is the
best way I can explain it. You know, Reagan gets
credit for inkrupting the Soviet Union back in the eighties
when we got into an arms race and there was
(05:05):
ridiculous amounts of defense spending and we ran up the
debt and we bankrupted the Soviet Union and the Berlin
Wall fell down. And Reagan has an airport named after him.
You know, that's he's a hero. So what I think
Trump is trying to do is something similar with China.
I think he is trying to you know, China is
already in a deep recession. They have a real estate crisis,
(05:29):
their industrial base has shot, they have terrible demographics. They're
in a recession, and he is trying to drive them
into a depression. And the reason he's trying to do
that is to weaken their military. He's trying to cut
back in their military spending. And I actually think I
think it might work. You know, I don't think that
the intent was ever to put tariffs above ten percent
(05:53):
on every country in the world. I don't think that
was the intent. I think this was about China all along.
Speaker 2 (05:58):
We had a conversation with an other financial expert, and
we were talking about what is being sold by the
White House, and my gut happens to be like yours
with the President on this, but you know, others got isn't.
But I think what the President is doing is you
got China that's been taking terrible advantage of us.
Speaker 1 (06:20):
He expects that from our enemies.
Speaker 2 (06:22):
It's our friends that have been taking advantage of that
he wants to address as well. I think that he
could have found a probably better way to do it
than all at once, but he did, and then he
went with the ninety day pause and everything seems, you know,
seventy five countries are lined up. The question becomes, is
this isolating China from the rest of the world. Has
(06:43):
he pulled that part off? Because that's going to be
key You don't want to wake up and Europe's doing
more business with China than with us kind of a thing.
Has he effectively isolated this to China? And if so,
and in timing of their recession, is he marched down
the road the Ronald Reagan marks with the Soviet Union
(07:03):
in the same way.
Speaker 1 (07:05):
How do you see that playing out? I think it's
I'm not you know, I'm more of.
Speaker 4 (07:09):
A financial analyst, I'm not really a geopolitical analyst.
Speaker 1 (07:12):
But I don't think he's I don't think.
Speaker 4 (07:14):
He's isolating China necessarily. I don't think that, you know.
I mean, look like China is going to trade more
with Europe and with Australia than with US, for sure,
But I don't, you know, I honestly think this is
going to work. I really do, and look like I
(07:34):
am a free trade guy. Like you know, I'm a libertarian.
I'm a free trade guy. Trade benefits everybody. This is
why our standards of living have risen so much since
the eighteen hundreds is because of free trade. But in
this particular instance with China, I look, they are they
are an existential threat. Chi Jingping. I think if he
(07:57):
had the ability, I think he would want to rule
the entire planet, and incrementally, I think that's what they're
going to try to do. So I think it's I
think it's good that we're putting these tariffs on them.
Speaker 2 (08:07):
So for the longest time, I mean that we go
back in time and the trade, the trade disparity was
leaning our way. Now it heavily leads China's way, and
with all that money they've been a building their military
and b buying our debts. So this is something that
does need to be addressed. All right, so let's let's
bring this all full circle. Jared Billion joining US best
(08:29):
selling author, financial writer, worked on Wall Street, also an
active investor. Talk to the investors out there. We knew
this was going to be short term pain for a
long term gain. This week was crazy, and people experience
the short term pain. What should they do to protect
their investments?
Speaker 4 (08:45):
Definitely, you want to diversify into other asset classes. If
you have a portfolio that is one hundred percent stocks,
that is a very fragile portfolio, and you were experiencing
a lot of volatility, you want to diversify into bonds.
You want to diversifying to gold, you want to diversify
into real estate. You know, the conventional wisdom is is
(09:08):
that you should have a sixty forty portfolio, maybe an
eighty twenty portfolio. And people are perfectly comfortable with this.
They're like, sure, eighty percent stocks, no problem, that seems
nuts to me. If I suggest to somebody that they
should have twenty percent gold in their portfolio, they're like,
oh my goodness, that's too risky. How can you have
twenty percent gold in your portfolio. I'm like, look, it's
(09:29):
actually less volatile than stocks. So, you know, I think
there's there's sort of this cult of stock ownership in
this country. You know, fifty percent of households a little
over fifty percent owned stocks at this point, and it's
because they're easy for people to understand and trade. But
you know, I disagree with it.
Speaker 1 (09:49):
Oh yeah, you got to have a pun, got to
have a portfolio.
Speaker 2 (09:53):
But the for the volatility that we are experiencing too,
would you be I mean I said this earlier in
the week when the market crashed after the announcement. I
was like, man, if I had a million dollars, I'd
be investing eight hundred thousand. I put two hundred thousand
on the Gators in the National championship and eight hundred
thousand on the market because it will all recover eventually.
Speaker 1 (10:13):
I mean, I guess, I guess address panic too.
Speaker 2 (10:16):
Even for whatever percentage stocks are in their portfolio.
Speaker 1 (10:19):
Address panic.
Speaker 4 (10:21):
Well, you're allowed to panic, but if you panic, you
have to panic before everybody else does. So now it
is too late to panic.
Speaker 1 (10:31):
It is too late.
Speaker 2 (10:33):
That's pretty wise, pretty wise way of saying it all right, Well,
it's been a crazy week. Thanks for sharing your insights
with us. If they want to get your book, where
can they find it?
Speaker 4 (10:44):
The book is No Worries how to Live a stress
Free Financial life. You can find it on Amazon. It
wasn't bookstores for a while, but I think it's pretty
much out of bookstores at this point, so you can
get it off Amazon.
Speaker 2 (10:55):
Jared Dillion, thank you so much for joining us this morning.
Appreciate it all right. Ten minutes after the hour and
we don't know what today has in store for us
in this crazy week. I can tell you that the
pre market trading futures look up, so there was a
great buyback on the pause announcement. There were some people
(11:16):
that wanted to take their wins, which caused a down
market yesterday. How much will were covered today? How much
will the futures influence the way the market closes? Only
time will tell. But I love Jared's line, if you're
panicked now, you panic too late? Write it out, baby.
Speaker 3 (11:33):
It's your morning show with Michael del Jarno.
Speaker 2 (11:38):
Heading towards a palm Sunday and not too far off
in the distance.
Speaker 1 (11:42):
Attacks Tuesday This is your morning show on the air
and streaming live on your iHeart app. I'm Michael del Journal.
Good morning, Welcome to Friday.
Speaker 2 (11:50):
Well Speaker Mike Johnson says the House and Senate will
continue to work over the coming weeks on President Trump's
budget plan.
Speaker 6 (11:57):
The House narrowly passed a revised blueprint for the budget
on Thursday morning. We have a responsibility to get our
country back on a sound fiscal trajectory. Afterward, Johnson said
committees from both chambers would be working collaboratively over the
two week recess to find more savings. The House approved
plan would raise the debt limit, cut taxes, and increase
spinning on defense and immigration enforcement. House Minority Leader Hakim
(12:18):
Jeffries voiced his opposition to the budget resolution, calling it
a disgrace.
Speaker 2 (12:22):
I'm Mark Neyfield. Want to torture yourself. Look at this
beautiful family posing in front of a helicopter before a
tour of the Statue of Liberty and the skyline of Manhattan,
and then know that the family of five from Spain,
including three children, along with the pilot of the helicopter
of the tour, all died and the cause not exactly known,
(12:46):
just that the helicopter began to fall apart over the
Hudson River.
Speaker 5 (12:50):
A family from Spain was on the BILL two o
six chopper along with the pilot from New York helicopter
to view sites along the Hudson when the choppers started
falling apart.
Speaker 1 (13:00):
So I was just walking.
Speaker 2 (13:01):
I heard like a weird noise, and when I looked up,
I just saw it falling from the sky, and I
just saw a big splash in the river.
Speaker 5 (13:07):
Dozens of first responders, including divers and scuba teams, were
in the cold, murky water within minutes, but then YPD
Commissioner Jessica Tish said the pilot and passengers could not
be saved.
Speaker 6 (13:19):
Four victims were pronounced unseen and two more were removed
to local area hospitals were sadly both succumbed to their injuries.
Speaker 5 (13:28):
I'm Sarah Lee Kessler.
Speaker 2 (13:30):
The trial of the so called Doomsday Mom got back underway.
Speaker 5 (13:34):
Lisa Taylor has more Rory Valo da Bell as accused
of conspiring to kill her fourth husband in twenty nineteen.
Her brother Adam Cox, took the witness stand Today. Valo
da Bell is representing herself in the case. She was
found guilty in Idaho in twenty twenty three of murdering
her two young children and conspiring to murder her husband,
Chad day Bell's first wife. At her first trial, witnesses
(13:54):
described how she believed some people were zombies or possessed
by evil spirits.
Speaker 1 (13:58):
I'm Missa Taylor.
Speaker 2 (14:00):
Kay Junior is claiming new research could help discover the
cause of autism and by September.
Speaker 7 (14:06):
The Secretary of Health and Human Services made the comment.
Thursday at a White House cabinet meeting, Kennedy told President Trump, quote,
We've launched a massive testing and research effort that's going
to involve hundreds of scientists from around the world. Kennedy
has reportedly hired a long time figure in the anti
vaccine movement to lead the research effort. Multiple studies have
found no link between autism and vaccines. I'm Tammy Triheo.
Speaker 2 (14:28):
A new study suggests that hearing loss can increase your
risk of heart failure.
Speaker 1 (14:32):
Michael Cassner reports.
Speaker 3 (14:33):
Researchers at the UK Biobanks say they've found that those
with mild hearing issues had a fifteen percent increased risk
of heart failure, while those with poor hearing had a
twenty eight percent increase risk of heart failure. Experts believe
the isolation caused by hearing issues may lead the heart problems.
They say it's also possible that heart issues may affect
(14:54):
blood vessels in the air. I'm Michael Cassen boy Justin
Rose hit the ground running at a gust a seven
under par. He's your leader after the first round. Heading
into round two today.
Speaker 2 (15:04):
Scotty Scheffler, who is my pick to click and defend,
is just three back at four under par, along with
Corey Connors and Ludovig oberg All at four under par,
Bryson d Schambeau at three underd not far back Freddie
Couples at sixty five one under par.
Speaker 1 (15:20):
In the opening round.
Speaker 2 (15:21):
Rory got to four under, and you know, you just
sense that, Rory, there's so much pressure to get this
first green jacket, to complete this Grand Slam, and golf
is just not a game that you can play in
your head. A couple bad breaks, two double bogies, he
ends at even par. Smeeth and Thomas are at one
(15:42):
over par, and Lefty Phil Mickelson three over par. The
Live Tour, with the exception of d Chambau at three
under not performing well at the Masters.
Speaker 4 (15:53):
Hi, my name is Bern Aaron and my morning show
is your Morning Show with Michael del Jorno.
Speaker 2 (16:05):
Hey, it's Michael. I'm so glad you found the podcast,
and don't forget. You can listen to your morning show
live each weekday morning. Your Morning show can be heard
in great cities like Youngstown, Ohio, Nashville, Tennessee, Saint Louis, Sacramento, Phoenix.
Speaker 1 (16:19):
Just to name a few.
Speaker 2 (16:20):
You can find that your morning show city closest to
you on our website, your Morningshow online dot com, and
we're glad you're here for the podcast.
Speaker 1 (16:27):
Enjoy.
Speaker 2 (16:27):
If you miss the show live, you can catch up
with the podcast, usually available about an hour after the
show ends and easy to find on your iHeartRadio app.
Just search your Morning Show with Michael del Jorna. When
you find it, hit subscribe, maybe even consider adding it
to your preset buttons.
Speaker 1 (16:41):
That way, whether.
Speaker 2 (16:42):
We're live or after the fact, we're just to touch away.
I thought that was an interesting conversation with Jaredillion. He's
the first to bring up the existential threat that is
China and a strategy that could be right up there
with Ronald Reagan bankrupting the Soviet Union in the Cole
War by catching them at a time of recession and
making things painful. I'd love to hear your talkbacks on that,
(17:06):
also what you made of those polls, which, by the way,
the interesting part about that one poll is the support
for every one of the President's tax cuts. Therefore, the
only presumptive assumptive reason to oppose it is it's attached
to Donald Trump. We played a piece that's going to
be in our Sounds of the day of Hillary Clinton
(17:27):
talking about what to do with the legals who commit crimes.
Donald Trump's not doing anything crazy and strange and disruptive.
That's just how far the left and the right hasn't
meant what they've been saying, or have shifted away from
what they were saying. The polls of plenty were very revealing,
So in the podcast section, you're going to appreciate that.
(17:47):
In the first hour, all right, if you're just waking up,
RFK Junior, our health secretary, says he's putting together a
team that will determine the cause of autism, and he
anticipates being able to have some pretty meaningful answers by
as early as September, a family of five from Spain,
along with a pilot, all crashed and died in their
helicopter in the Hudson River. Yesterday. Tragic to watch. The
(18:10):
stocks went down again. Futures say they're going to head
back up again. It's been a crazy wild ride. As
for inflation, you know, we always say you elected the
president to secure the border and the invasion and restore
law and order.
Speaker 1 (18:28):
Well he did that lickety split.
Speaker 2 (18:30):
You also hired him to bring down inflation and bring
down cost of living. He would suggest that this tariff
strategy is addressing that. Some would like to make the
case it's making things worse when it comes to inflation.
I thought maybe the left would say, well, it was
(18:50):
already coming down because of the great work of Joe Biden.
But everybody knows Joe Biden wasn't president, so I guess
they don't want to go there. So what they're trying
to do now is just gaslight you into thinking, well,
you elected the president to address inflation and it's getting worse.
We'll have this again in our sounds of the day.
(19:11):
But for those of you listening now on your way
to work, I wanted you to hear it, because you
know what happens to narratives, They all die of reality.
Speaker 1 (19:19):
Eventually.
Speaker 4 (19:20):
Trump promised that he would lower costs in fact on
day one, But what we've seen under his reckless leadership
is that costs aren't going down in America.
Speaker 1 (19:29):
They're going up. Inflation is going up.
Speaker 8 (19:31):
Breaking moments ago, brand new numbers showing inflation fell last
month much better than expected. So this was actually a
drop of point one percent negatives point one percent. That's
the first time we've seen that since COVID is COVID,
and somewhere Hakim Jeffreys is.
Speaker 1 (19:48):
Saying, disregard that and stick to the narrative.
Speaker 2 (19:51):
Well, some of President Trump's advisors are reportedly a little
bit split on this whole terriff situation. Not that there's
anything wrong with that, I mean, differences are certainly acceptable
in finding consensus, but it does beg the question, is
this one of the first chinks in the unity armor
of the Republicans and especially the tight group that makes
(20:15):
up this cabinet. Well, the one who follows him in
the room is our White House correspondent John Decker.
Speaker 1 (20:20):
John, are you sensing some splitting from who?
Speaker 9 (20:24):
Well, you don't see yesterday with the cabinet meeting that
the President had, you certainly didn't see it there. I
mean they were praising the president as they went around
the table. You saw that, Michael. But as it relates
to an outside advisor, Elon Musk, he's not one.
Speaker 1 (20:39):
Hundred percent on board. You know that.
Speaker 9 (20:40):
You saw that battle if you want to call it
that on social media between Peter Navarro, the trade.
Speaker 1 (20:47):
Advisor to the President, and Elon.
Speaker 9 (20:49):
Musk that you know, sort of went out into the open,
some insults traded by each of them. But the President,
you know how he is. He's comfortable with that. He
kind of likes that to a certain extent. But you
know that it's not changing the President's mind.
Speaker 1 (21:05):
In any way. You know, he's still.
Speaker 9 (21:07):
A one hundred percent tariff person, even though he's put
this ninety day.
Speaker 1 (21:11):
Pause in place.
Speaker 9 (21:12):
He also indicated yesterday that if countries don't reach a
deal with the US during this ninety day period, the
teriffs CDD announced in the Rose Garden last week they
will go back into place against those particular countries goods.
Speaker 2 (21:27):
This is irrelevant to waste your time with, but for
those that are in new markets and just learning what
the show's about. I'm very partisan, not politically partisan. I'm
not a Republican or a Democrat. I stopped being a
Republican because they failed to live what they believe. They
talk a good game, but they don't do it. Democrats
do what they say, and everything that they do and
(21:47):
say is anesthetical to my worldview and my policy views.
So but I have to tell you, watching the cabinet
meeting yesterday, and.
Speaker 1 (21:56):
I'm very interested.
Speaker 2 (21:57):
Don't feel like you well, you never feel like you
have to agree with me, But watching these people, I
mean from Tulsi and I specifically point to Tulsi Gabbard
and RFK Junior because they were both Democrat presidential candidates,
But I mean, everybody is just so on point, so
on focus. They're so in command of their department and
what the agenda is and where they're at and what
(22:18):
they're achieving and what they're doing next.
Speaker 1 (22:20):
I mean, you've you've probably.
Speaker 2 (22:22):
Been in a situation where you work for a not
so good company and you can really feel in a
department head meeting, and when you're working for a really
good company, you can sense that in a department and meeting.
These cabinet meetings. I guess because we're seeing them in full.
But they've been very impressive to me, I mean, everybody,
it looks different than previous cabinet meetings. What are your thoughts,
(22:44):
I mean, you've seen eight problems.
Speaker 1 (22:45):
I thought to this. You know, when president I've.
Speaker 9 (22:48):
Covered the president, the presidency, the Office of the President,
the White House since Bill Clinton's first term, and we
typically were not privy to what happens during a cabinet meeting.
But with Donald Trump we are. And he did this
in his first term. Go it went around the table,
allowed all of his cabinet secretaries to speak about what's
(23:09):
happening at their particular department or agency. And what we
see with President Trump is some of these cabinet officers
praise the president to the hilt in front of the cameras.
You know, you say that it's your view that it's
a good thing. There are some things that say, you know,
maybe they're you know, smooching somebody's behind, you know, a
(23:31):
little bit too much in front of the cameras. But
in any case, you know, you don't see any dissension
during those cabinet meetings, that's for sure, nor should you,
no matter who the president is. And the president likes that,
and so I think that's one of the reasons why
he allows the cameras into the start of his cabinet
meetings with his cabinet officers.
Speaker 1 (23:48):
I don't have to tell you.
Speaker 2 (23:49):
You study history as much as me, and you're an attorney,
but they used to be constitutionally all you're required to
do is do a report to Congress, and then it
became an actual speech, and then it became a television
event that has done annually. Do you think we might
start seeing more cabinet meetings in the future because of
Donald torm Is this going to be a Trump phenomenon.
Speaker 9 (24:11):
Only well, you know, again, like I said, this happened
in the first term, so it's not new. I've been
in the cabinet room when the president has these meetings,
you know, for an hour and a half while everybody
goes around the table and says there two cents. You know,
that's what the president likes to do.
Speaker 1 (24:28):
And yeah, that will certainly continue during the course of
his second term in office.
Speaker 2 (24:33):
All right, last question is I know you need to
go It's not just Elon Musk. We have a pretty
esteemed economist that joins us every week, and he's very
much on Trump's side, but he also is very concerned
about certain advisors and tactics that they're using. So while
the want the riff between Navarro and Musk was certainly public,
(24:54):
I suspect there's a lot of people that have some
differing views.
Speaker 1 (24:58):
How widespread do you think this is?
Speaker 9 (25:01):
Well, they keep their thoughts to themselves in front of
the cameras.
Speaker 1 (25:05):
Maybe they provide that advice to the president. You know.
Speaker 9 (25:07):
Certainly, the individual that has the most experience on Wall Street,
the most well respected on Wall Street is Scott Besant,
the Treasury Secretary. I think he lets his feelings be
well known to the president, and he also passes along
what he's hearing from his former colleagues on Wall Street
who are not pleased with this terrorist policy, feel that
(25:28):
it could possibly lead to a recession by the end
of this year, and certainly could lead to an uptick
in inflation and a slowdown and growth.
Speaker 1 (25:36):
All of that is conveyed to the president.
Speaker 9 (25:37):
I think all of that, actually, Michael, is one of
the reasons why the President put this ninety day pause
in place. Just the other day.
Speaker 2 (25:44):
What a crazy week, I know, you're a tennis guy,
but seriously put the masters down and take a nice
long nap on the couch. You've learned a very busy
John Decker. God bless you have a great week. We'll
talk again next week.
Speaker 9 (25:55):
All right.
Speaker 2 (25:56):
If you're just waking up, here are your top five
stories of the day. Over three hundred student visas are
being revoked by the Trump administration as it cracks down
on immigration.
Speaker 1 (26:05):
Mark Mayfield has the details.
Speaker 6 (26:09):
Secretary of State Marco Rubio says it's a privilege to
go to school in the US.
Speaker 1 (26:13):
If you come to.
Speaker 2 (26:13):
This country as a student, we expect you to go
to class and study and get a degree.
Speaker 6 (26:17):
If you come here to like vandalize a library, take
over a campus, and do all kinds of crazy things,
you know, we're going to get rid.
Speaker 1 (26:23):
Of these people.
Speaker 6 (26:24):
Some international students have seen their visas taken away for
allegedly supporting terrorist organizations. Others have had theirs reportedly revoked
for things like traffic lanolations. It comes as colleges watch
immigration databases to see if students are still allowed to
be in the US. Last month, Rubio said a couple
of hundred visas were revoked and more would be happening
every day by Mark Mayfield.
Speaker 2 (26:43):
The search for survivors has ended after this week's tragic
roof collapse at a nightclub in the Dominican Republic.
Speaker 10 (26:49):
Breaking into tiers at times. The head of the Dominican
Republic's Emergency Operations Center said Thursday would be the last
day of rescue and recovery efforts at the jet Set
nightclub in the capital, Santo Domingo. In the early hours
of Tuesday morning, jet Set's roof collapsed with hundreds inside.
(27:09):
The death toll has now risen to at least two
hundred and twenty one people, including two former Major League
Baseball players, a local governor, and marangue artist Ruby Perez,
who was performing at the time. Iras Meitzer, San Francisco Rfkay.
Speaker 2 (27:25):
Junior Health Secretary, is claiming new research effort is underway
to discover the cause of autism, an he thinks we
can get some answers by September.
Speaker 7 (27:33):
The Secretary of Health and Human Services made the common
Thursday at a White House Cabinet meeting. Kennedy told President Trump, quote,
We've launched a massive testing and research effort that's going
to involve hundreds of scientists from around the world. Kennedy
has reportedly hired a long time figure in the anti
vaccine movement to lead the research effort. Multiple studies have
found no link between autism and vaccines. I'm Tammy Trihillo.
Speaker 2 (27:55):
Well, the President paused his tariffs on the European Union
and the euro Opinion Union has counter paused their tariffs
for ninety days.
Speaker 1 (28:05):
Michael Castner has the details.
Speaker 3 (28:06):
It comes after President Trump announced the ninety day pause
yesterday on some tariffs. Yesterday, the EU voted in favor
of a package that was meant to respond to US
tariffs on steel and aluminum that were put in place
last month. He US retaliatory tariffs were meant to go
into effect on April fifteenth. European Commissioned President Ursula vonder
(28:26):
Land said they want to give negotiations with the US
a chance. I'm Michael Cassner.
Speaker 2 (28:32):
Val Kilmer's official cause of death has been released. The
Los Angeles medical officials listed his immediate cause of death
as pneumonia. Several underlying factors, including respiratory failure and cancer
also listed.
Speaker 1 (28:46):
This is Your Morning Show with Michael del Chrono.
Speaker 2 (28:50):
This has been a crazy week. But at least we
went through it together. We got to live it together,
understand it together, anticipate tomorrow together, no matter how it
turns out, no matter how well we understand it, just
going through it together. There's something comforting and powerful and
(29:10):
bonding about that.
Speaker 1 (29:12):
And I hope you're feeling the same way. We're going
to get to a couple of talkbacks here in a second.
Speaker 2 (29:16):
I got an email at Michael d at iHeartMedia dot com,
which is another way to communicate with us, addressed to
Pizza Boy. I guess I can thank forty seven for that.
He'll be along in about fifteen to twenty minutes, Pizza Boy.
The shows just keep getting better. I have followed Jared
for years on the financial interview website Real Vision. He's
(29:37):
a heavy hitter. Good job, great job this morning. I
appreciate that you keep adding contributors to the show and
bring on people with original opinions about world affairs, financial markets,
and the economy.
Speaker 1 (29:48):
Love the show.
Speaker 2 (29:49):
Exclamation point, exclamation point, Grant and Memphis And he said, ps,
which of Dw's cars during his career did you like
the most. I'm probably going to pick the Tide because
it was a Henderson and because I've actually seen it
in person. Probably the Tide ride number seventeen, But I
wonder what most people would.
Speaker 1 (30:10):
Say the eighty eight gator Rade probably I don't.
Speaker 2 (30:13):
Think eighty eight Gatorade, but the Tide was probably the
most iconic.
Speaker 1 (30:17):
Yeah anythink yeah? For me?
Speaker 2 (30:19):
Well, for me, the greatest throw was when he gave
me an uber ride home from a wedding car and
then he's giving me tips kids today. You know they're
doing nine to three o'clock or ten at two o'clock.
I always like the eleven o'clock. Here's why. Just point your fist.
The car is going to go where your fisted. And
I'm thinking to myself, I'm getting an uber right now
(30:41):
from the great one Darryl Waltrip.
Speaker 10 (30:42):
Does he have a piece of tape in the middle
of a steering wheel first of car?
Speaker 2 (30:46):
No? But won you know Andrew who makes every ride
with me like a near death experience.
Speaker 1 (30:50):
I don't know. I've never had an accident.
Speaker 2 (30:52):
The only time I got in an accident, I was
parked on the Interstate and a guy went eighty miles
an hour into the back of me. I had nothing
to do with it other than well, last thing I
saw was smoke coming from his tires and then I
woke up. But you know, but every time I'm driving,
she's hanging on like we're gonna die at any minute.
Speaker 1 (31:09):
But when Daryl was driving, she was just a relax.
Oh yeah, I said, why don't you you know? Ak care? Well,
he's gio.
Speaker 2 (31:15):
Oh I've never felt safe for he professional and he
went the speed limit, which was kind of boring. All right, talkbacks,
that's the other way to take your place here at
the kitchen table.
Speaker 1 (31:26):
This morning, we got a couple of quick reactions. Good morning, gentlemen.
Speaker 11 (31:30):
Just want to comment on your last guest, the financial expert.
Speaker 1 (31:34):
Didn't catch his name. I'll go check his book out, but.
Speaker 11 (31:37):
It's great to hear different views, especially with financial situations.
It's very subjective. Also, I just want to thank you
guys for a really good week. Shows were great. Have
a great weekend, and I will listen to you next week.
Speaker 1 (31:53):
Was that Roger at Zakramento? Yes? How do I know that?
Speaker 2 (31:57):
Either he calls too much or I really like him
one of them.
Speaker 1 (32:03):
I've got Blaine. Good morning, Michael.
Speaker 12 (32:05):
I'm calling from Iowa again. But it's funny every time
you hear Hakeem Jefferies talk, he sounds like, well, his
true calling was car salesman apparently, but he couldn't do that.
So now he's doing what he does. But every time
he says something, you know, he's.
Speaker 1 (32:20):
Way off base.
Speaker 12 (32:22):
He's coming from center left, but or centered down. I'm
not even sure anyway.
Speaker 1 (32:27):
That would be far left. We're all in this together.
This is Your Morning Show with Michael Ndheld Joe Now
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