An Economic Realignment

Episode Transcript

Speaker 1 (00:00):
That's every night at the Casa Kooner at the house.
So now you know I gotta put up with. But
think Ashton and Ava siding with Mommy and egging her on,
and you get a sense of what I deal with.
Nine twenty here on the Great WRKAO Jeff Cooner Boston's bulldozer.

(00:20):
Six one seven two six x sixty eight sixty eight
is the number. Okay, this is from my sister who
didn't text the text line. She texted me personally, but
included Grace like a three way text. Grace. It shows
he doesn't pay the bills. You're not a nervous nelly.

(00:46):
So even my family now is taking offense that I
I'm calling Grace a nervous nelly boy. All right, this
is from Larry on messenger Jeff nervous Nellie. I'm sorry. Yes,
I think they're panicking. I think they're panicking. I don't

(01:09):
think they're seeing the long game here, and yeah, it's short,
gonna be a little bit of short term pain. But
I'm looking at it from Ava and Ashton's perspective, and
you know, I go back to that brilliant text I
read earlier. Think of this as a body ravaged by drugs,
A heroin addict, a drug addict. And what Grace is

(01:31):
essentially arguing for, with all due respect and all the
critics of Trump's tariffs, is take one more hit, ease
off the addiction. Don't don't, don't detox too quickly, don't
get rid of you know, don't you know, don't, don't
cut off the addiction too fast. No, it's now or

(01:52):
it's never. And honestly, if not now, when, if not? Trump?
Who six one seven two six six sixty eight sixty
eight agreed? Disagree? Brian in Bill Rica. Thanks for holding Brian.

Speaker 2 (02:10):
And welcome Jeff. Hey, Jeff, good morning, good morning. Always
a pleasure to hear your A lovely wife. Thank you,
No offense, buddy, but a lot's wtter than you. But
I think you know that. Here's I have a general

(02:35):
comment to make, and I will tell you right from
the start that I did vote reluctantly. It wasn't an
easy task, but in the end I pulled the lever
for Trump. And here is my biggest problem with everything
that is going on. I'm not even going to pretend
to say I understand world economics in tariffs, but my

(02:56):
biggest problem with the president is he never he correct
me if I'm wrong, But I would challenge you to
find one clip of him on the campaign trail saying
that this was going to involve short term pain and
in sacrifice for the American people. And we don't even

(03:17):
know how short term that short term is going to be.
But I wish he had for guys like me. I'm
sixty three years old. I was planning on retiring in
two years with my wife, Jeff. I'm down twenty two
percent in my four or one k. If I had
got honesty from this guy about this, I probably still

(03:39):
would have supported him, but I would have been able
to make some adjustments in my investments to preserve this debt.
What is a devastating loss to my retirement plans. And
I'm not a millionaire by any stretch of the imagination.
Jeff Right, I'd be happy to tell you even my
balance right now. But the guy was not honest with us,

(04:04):
pure and simple. And it reminds me of the early
days of COVID when he downplayed it and said things
are going to be okay, things are going to be okay.
And then we found out from that that recorded interview.
Did he knew just how bad it was? Who was
that guy that wrote the book there. I can't think
of his name right now, but the guy had recorded

(04:27):
him and he said, Jesus is terrible. It's in the air.
People don't know. People don't know in the ear. It's
in the air. It's going to be bad. It's going
to be bad. At the same time, he's telling us
this is going to be fine. It's going to go
away as soon as the warm weather comes around. I
don't want to go back to, you know, rehash covid,
but that's what this reminds me of. He was not

(04:48):
straight with us about this. If he had, I probably
still would have voted for him, but I would have
been able to make some subtle changes.

Speaker 1 (04:55):
No, I hear you, Ryan, Look, let me just say
this and you tell me a few It's up to you,
so obviously, I mean, it's your opinion. Look, he did
tell us to be fair to him. He did tell
us he was going to impose tariffs. He was crystal
clear about that. He was a centerpiece, I want to
say centerpiece, but it was a key pillar of his campaign.

(05:16):
He said, We're gonna have tariffs, he's going to be
across the board. We're gonna tariff countries. Look, Canada wasn't
shocked what happened. Mexico wasn't shocked, Europe wasn't shocked. Uh,
China clearly wasn't shocked. So in a way, Brian, look,
it's like someone says they're going to give you a
shot in the arm and then you say, well, had

(05:37):
you told me it was gonna hurt, I would have prepared.

Speaker 2 (05:40):
Well.

Speaker 1 (05:40):
Obviously the tariffs were going to deliver a shock to
the system. Anytime you put tariffs, it delivers a shock
to the system. So you know, in other words, I
don't know if that's fair to say, well, he didn't
tell us, or he should have prepared us. I think
it was pretty obvious the tariffs were coming. They were
going to be strong tariffs, deep, broad tariffs, and there

(06:02):
was going to be a disruption in the market. The
second point, Brian, and again you may disagree. You're sixty
three years old, you're still two years away from retirement.
I'm telling you now, barring some unforeseen catastrophe, the stock
market's going to rebound. Whatever you've lost, you're probably going
to get it back, and then some. I mean, when

(06:24):
we're talking about short term pain, we're talking about maybe
three six months tops. You've got trillions of dollars in
investment that's going to pour into the country just from
the deals that Trump is lined up right now. So
the economy is going to boom. And when the economy boom,
sold the stock market sold your four oh one k.

(06:45):
What say you, Brian?

Speaker 2 (06:47):
He is what I say, Jeff. Not only did he
not warn us, Absolutely, he's been died. It's the only
thing the really the guy's been consistent on his whole
life is TIS since the eighties.

Speaker 1 (06:58):
Oh, Brian, can you do me a favor? Hang on,
I'm gonna come right back to you. I'm up against
a heartbreak. Six one seven two, six sixty eight sixty
eight is the number, all right. So Grace is texting
me on my phone and she's really pulling my chain.
Now she's having a good time at my expense. Jeff,

(07:21):
I don't bother coming home tonight. I'm changing the locks.
American made locks. They cost more, but they will work.
You can drive around in your American made car for
hours enjoy. By the way, I do drive an American car.

(07:47):
By the way, but let that go. And my Italian
food it's now twenty five percent more expensive for you.

Speaker 3 (07:57):
Bravo.

Speaker 1 (08:00):
Boy, geez boy, oh boy, a lot of all you
say I said was nervous, Nelly, and then look at
this boy, you know, so yeah, is is Trump making
a lot of people nervous over his tariffs? Hey, you
better believe it? Six one seven too, you know. And

(08:21):
by the way, they're not even paying more yet so far.
I mean, yes, the tarriffs technically are kicking in, but
it's not as if you're seeing prices go up yet.
So in other words, outside of the stock market obviously
taking a bloodbath, outside of that, which I'm not dismissing obviously,
you know four to one ks, as Brian was talking about,

(08:41):
you know, something to sneeze at. I think the market's
going to rebound. I think it's going to be made
up and then some. But that's that's another story. But
I mean, there are no you know, shock prices yet,
things aren't going up yet. So, like you know, Grace
and others are getting all nervous and nothing's actually happened,

(09:03):
except as I pointed out to her, food is going down,
eggs are going down, groceries are going down, gas is
going down, energy is going down. Interest rates slowly but
surely are starting to edge downwards. But you know, what
can I tell you? I mean, they just see the
stock market and they start the panic. Paul in South Weymouth,

(09:27):
Thanks for holding Paul, and welcome Hi Paul.

Speaker 4 (09:34):
Yep, that's a great listen. I love is she the
sweetheart man. She's very smart, by the way, very smart and.

Speaker 5 (09:45):
Everything she says this, it's not untrue. Listen, Jeff. I
don't want to sound like a misogynist or anything like that,
but I'm just gonna say this. It's women don't have fortitude.
They they it's the maternal instincts, I think, in that

(10:05):
they don't want anybody to get hurt. You know, we
don't want any suffering. And there's uncertainty, like the term uncertainty.
We don't know what's gonna happen. And it's more not
all women, but so even very intelligent women are like
y he's very very smart, very knowledgeable. But Jeff, you're
probably gonna disagree with us. It's you have to have

(10:29):
some courage. I mean, there's a lot of things that
we probably should do as a country. Maybe we shouldn't
have declared war on Great Britain because we're gonna you know,
it's gonna take some hurt, some people are gonna die
or something. Or maybe things weren't looking good in the
warrant the Pacific. Uh, maybe in Germany things are not
looking good. You have to persevere, You have to understand

(10:51):
what the ultimate goal is. Now in China, it's they
have didn't protect the United States against cheap farm labor, okay,
bottom line, And that's basically what we're doing. And it's
also politics, it's communism, and there's a lot of things
that this country can do. But yeah, it's going to

(11:13):
be suffering. It's that courage that some people are missing
because they they don't want to have. The sacrifice is
the fear and the by the way, the media of
course is gloom and doom with them. They're on the
same campaign they were in first Trump term when we
had the very first sign that there was progress being

(11:33):
made on the China trade deal. First, I mean after
months people yelling and screaming, and all of a sudden,
China and it's right before COVID, Yes, China blink, China blink,
and they said, hey, this is all of a sudden,
they might be coming to some terms. And you know
what the you know what they said on the news
in the stock market, it took a dive. You know,

(11:55):
I took a dive. That's your hedge funds. That's all
that Wall Street find out sabotage the stock market, and
it did. It took a huge dive when the first
time we actually had progress, there was hope in it.
With your opposite pay no attention to the stock market.

Speaker 1 (12:14):
Well exactly, no, Paul. We've seen this movie before and Paul,
I just gotta say, Paula, you're trying to have me
sleep on the couch tonight. It's women. It's women. Sandy's
going nuts in the control room, Paul, between Sandy and
my wife, they're gonna kill me here.

Speaker 3 (12:30):
Paul.

Speaker 1 (12:31):
Uh yeah, well yeah, Sandy agrees with you, that's what
she's saying. Says, Paul, I agree with you in this case.
So why are you going after women? No, No, you
agree with me, That's what I'm saying. But Paul is
on our side on this on the tariff issue, so
you know, but she's like the moment you said women,
Sandy charged to the microphone in my ear. Women, what women?

(12:56):
My wife's going nuts on the text line, by the way.
But no, Paul, well we've seen this movie before. They
tried to tank the stock market the first time when
he imposed tariffs on China. But I'll tell you what
this reminds me of more than even that. You're right,
But even more than that China trade war, the first
Trump administration and the way the stock market reacted, a

(13:19):
lot of this fear mongering, this panic porn, And that's
what it is. It's pure fear mongering and panic porn.
The hysteria that you're seeing from the media, from the establishment,
from the from Wall Street. It reminds me a lot
of COVID. You touched on China's role in COVID, which

(13:39):
to me is unforgivable, unforgivable what they did to us.
But remember how they scared the living daylights out of us,
how this was going to be the mother of all pandemics,
and we had to lock down, and we had to
take the job, and we had to close the schools
and close businesses, basically destroy our civil liberes in the constitution.

(14:02):
And that's what they're doing now. They're relying on fear
to try to get people to have an emotional response
against Trump's tariff wall, which what, it's a week old
if that, and already, I mean, seventy countries are lining
up to renegotiate and lower their tariff substantially. So they've

(14:27):
been they're admitting, yes, we've been taking advantage of you,
we've been ripping you off. You're going to get a
better deal. Hello, he's already winning. Now. It's not going
to happen overnight. You've got to sign these deals. You
got to renegotiate, like everything else. It takes a bit
of time. And the final point I just want to

(14:48):
say is this, Paul, and thank you for your call.
The stock market is not the economy. A businessman like Trump,
of all people, understands that we've been taught to believe
this over the last thirty years. That's why we're obsessed
with the stock market.

Speaker 5 (15:06):
Is it up?

Speaker 1 (15:06):
Is it down? What's the Dow? The NASDAC s and
P five hundred? No, Main Street, not Wall Street, is
the economy. Do you have a good paying job, Can
you afford to put gas in your car? Can you
send your kids to school? Can you put food on
the table. Do you have some extra disposable income, I

(15:29):
don't know, for a vacation or whatever. Do you have
a good quality, middle class lifestyle and living standard? All right?
Kevin O'Leary, former Canadian like myself, now obviously an American citizen.
You see him on Shark Tank all the time. I
think he's frankly one of the best financial economic minds
out there, very smart, very articulate, knows the markets like

(15:52):
and no nobody else is backing Trump now in this
tariff war all the way. In fact, his advice now,
believe it or not, he's telling Trump, don't stop at
one hundred and four percent. As he just slept on China.
As of midnight tonight, he says, take it all the
way up the four hundred percent. O'Leary says, squeeze China's head,

(16:17):
Chinese heads, i e. The CCP, the Chinese Communist Party,
squeeze their heads into the wall. In other words, maximum
economic pressure. China needs us, we don't need them, and
we can economically break their back. And I'm with Kevin
O'Leary all the way, Agree, disagree six one seven two

(16:41):
six six sixty eight sixty eight. Mike who do you
want me to go to next Mike anytime this century?
Mike Paul in ash is it? I have ashburn Ham?

Speaker 2 (16:57):
That really?

Speaker 1 (16:57):
I thought it was asked? Okay, I'm kurs Sank corrected
Paul in Ashburnham. Thanks for holding Paul, and welcome.

Speaker 3 (17:05):
Good morning, Jeff, Good morning. Unfortunately, I have to inform
you probably shut off for a month from the missus.

Speaker 1 (17:17):
I mean, just that paraphalon on her past. That's gonna
that's gonna hurt me big, Paul.

Speaker 3 (17:23):
It is it is. Unfortunately, that's the way it.

Speaker 1 (17:26):
Rolls for us.

Speaker 3 (17:28):
But uh, my point is I have no fear in
the economy right now, and I'll tell you why.

Speaker 4 (17:34):
There's several reasons why.

Speaker 3 (17:36):
One, we're a nation of hyper consumers, so everyone wants
our markets. I mean, I don't know about your house,
but I got Amazon packages showing up on a daily basis.
I think we have our own clipboard.

Speaker 5 (17:47):
Yes.

Speaker 3 (17:48):
Yeah. And the second thing is people are looking at
this market drop all wrong. So the selloff is the
hedge funds because they need to make their quotas, so
they're selling off. It's drive the market down and they're
going to buy back when it's low. But what it
does for I'm a blue collar guy. I've been investing
for thirty years. I've made a lot of money with
a little What's approaching is the buying opportunity of a

(18:12):
lifetime because these good blue chips stocks are going down low,
and that's when you want to buy. The key is
is finding out the bottom where that is. I don't know.
I'm thinking thirty five, thirty six.

Speaker 5 (18:27):
I don't know.

Speaker 3 (18:28):
Like I said, I'm an average show. But I see
it as an opportunity because people ask me, like Paul,
what would you buy for stocks? And I say, I
don't know. Everything is so high, it's overinflated. I don't
know where to buy. But now when people call me,
I'm going to be like, get your cash together. So
in five, when we had a crash and the market

(18:49):
went weigh down, I don't remember the numbers now.

Speaker 5 (18:51):
But I picked up GE for.

Speaker 3 (18:53):
Five dollars a share. I made a boatload of money
on it and I had nothing. I just gathered the
funds that I that I could get it. Took the risk,
I too, like you like risk, and this is how
we get ahead.

Speaker 1 (19:07):
Paul honestly dropped the mic and it's all kidding aside.
This is what I've been trying to tell Grace. I go, look,
I remember two thousand and eight, two thousand and nine,
you know, I know, it was a big housing crash.
I get it. And we you know, we hit a recession,
a great recession. But the market collapsed and people bought
stalks low and they ended up making you know, a

(19:30):
windfall of cash. They made money hand over fist. So
when the market goes down, of course, I look, I
feel for guys like Brian's got a retirement four oh
one k he's looking at it and he's getting nervous.

Speaker 3 (19:41):
I get it.

Speaker 1 (19:42):
But when the market goes down, it will go back up.
So buy low, sell high. That's how you put money
in your pocket. And so I agree with you. I
think now is the time. I mean again, I'm not
giving financial advice. I'm just giving my opinion. That's all
it is. I think soon is the time to buy.
If you have some money, buy, That's what I would

(20:05):
do now. Personally, here's what I'm looking at, Paul. This
is the moment Trump starts signing these deals. He inks
a deal with Japan, a deal with South Korea, a
deal with the Europeans. The moment he starts inking deal
after deal after deal, you're gonna see the stock market roarback,
investor confidence warback to me, that's when I buy. I'm

(20:29):
not worried about a trade war with China. This thing
could go on for six months or a year. We're
gonna kill him. They're gonna regret the day they ever
did this. But when he starts inking deals with other
good you know, first world countries, and they're stabilizing that
trade relationship, that one that benefits us for the for
a change, Paul, then I know the market is going

(20:49):
to start roaring back. I know it's going to rebound.
That's when I would buy. Paul. I've got ten seconds left.
Yes or no, Agree, disagree. You can't put him back
on to say yes or no, Mike, A simple yes
or no, okay, Paul. If I can be so presumptuous,

(21:09):
I think Paul would say yes,