April 9, 2025 • 44 mins
China Hit Where it Hurts. Stocks Rebound Big. What Does it Mean?
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Transcript
Episode Transcript
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Speaker 1 (00:00):
Have you watched Australian rules football.
Speaker 2 (00:01):
I have not. I don't know what makes it so cool,
and it's something I need to check out.
Speaker 1 (00:05):
Just come to my house. Okay, we'll throw back some
hams and I'll tell you about why Australian rules football
is the greatest sport in the world.
Speaker 2 (00:13):
Okay, is it like is it more like soccer or
American football? Well, i'll tell you in a bit because
it's interesting. But I just needed an hour away from
stuff for a second. Sure, and by the time I
got back to checking out the news, everything's green on
the stock market all of a sudden. So Matt, can
you do me a favor and tell me what the
latest readings are on the Stock Exchange and the major
(00:36):
indexes or indices or whatever the term is. Yeah, I
would be happy to The Dow Jones is up two thousand,
four hundred and forty eight points. What two thousand, four
hundred and forty eight that's right, twenty four hundred, that's right.
And you know what we just did, by a bing baby,
We just got into forty forty thousand again.
Speaker 3 (00:57):
Wow.
Speaker 2 (00:58):
Now we don't know where it'll close. We still got
an hour to go. We have fifty two minutes left
before close. But right now it's up six and a
half percent. It just crested forty thousand again, the tank
is clean. What's the reference for finding NEMO? Sorry?
Speaker 1 (01:12):
Oh yeah, good, good idea. Okay, so that's dal Jones
industrial average. What is the s and P five hundred?
Speaker 2 (01:19):
The S and P five hundred is well, it just
it's switching around on me here. But I'll just say
seven and a half percent up, three hundred and seventy
four points up, sitting at five thousand, three hundred and
fifty seven. Yeah, seven and a half percent up, nas
Dak seven and a half percent, yeah, Nasdak even better.
We're feeling good about those tech stocks, okay, nine and
(01:40):
a half percent up? What yeah, one four hundred and
forty one. This is the biggest rally in a single
day in over five years. Fullall Street, tiny little Russell
two K, the little engine that could, is up seven
point seven four percent.
Speaker 1 (01:54):
I only should have bought yesterday. I am not a
financial advisor. Mat Case mc case is also not a
financial advice. Do not take financial advice from us, right
Everything that we say is about our personal lives and
not yours. Yeah, so don't don't do stuff based on
what we're saying. Okay, do you think I covered it
well there so nobody gets us in trouble.
Speaker 2 (02:16):
Yeah, I could cut a disclaimer for that. You can
just hit a button every time.
Speaker 1 (02:20):
I don't know. I don't I don't want you to read.
I don't want you to get too crazy with it.
There's so much on your plate already. Okay, so we'll
keep we'll keep poking around. Am I saying? Is it
twenty five? One hundred now? The dal Jones? Is this
still going up?
Speaker 2 (02:36):
Yeah, it's twenty five, it's still going up.
Speaker 1 (02:38):
I don't know, this is what I'm saying. Does anybody
really know what's going on out there? There's a few
people in the world that know what's going on. Scott
best since one of them. He is the Secretary of
the Treasury, and he gets asked about this. He's been
asked about it over and over again in the last week,
because remember this is only a week ago.
Speaker 2 (02:56):
I don't know.
Speaker 1 (02:56):
I feel like I've aged two years since the tariffs
were announced for a variety of reasons. But Secretary of
the Treasury, Scott Bessent has an update and this is
what he said when speaking with the media today.
Speaker 4 (03:08):
I could just add to what the secretary said. Many
of you in the media clearly missed the art of
the deal. You clearly failed to see what President Trump
is doing here. You tried to say that the rest
of the world would be moved closer to China, when
in fact we've seen the opposite effect. The entire world
is calling the United States of America, not China, because
they need our markets, they need our consumers, and they
(03:30):
need this president in the Oval Office to talk to them.
And that's exactly why more than seventy five countries have called.
Because the United States of America is the best place
in the world to do business, and as the President
has shown great courage, as the Secretary have said, and
choosing to retaliate against China.
Speaker 1 (03:45):
Ah, that's enough. Yeah, sorry, that's obviously not Scott Bess
and he's just in the picture. It's Caroline Levitt who
stepped in and said all that many of you in
the media clearly missed the art of the deal. M interesting,
So what now is this permanent? Is this tariff pause permanent?
Obviously it's not for China. We'll get to China a
(04:06):
bit later, because they are they're who we really want
to go after here. First of all, what do we
what do we believe here?
Speaker 2 (04:13):
What do we.
Speaker 1 (04:13):
Nazak is ten percent up? It's ten percent up today,
ten percent up? Ah wow, congratulations, cheers to everybody. It's
a Wednesday, but it's gonna get washy in.
Speaker 2 (04:26):
Here, feeling good? Yeah, Wednesday?
Speaker 1 (04:28):
What's that? What's that VIX doing? What's the what's the
vapor rub? No vix the volatile index. It's listed as
VIX on all the Wall Street stuff.
Speaker 2 (04:38):
Well, the only thing in the red these days is volatility.
Oh it's down twenty five, almost twenty six percent.
Speaker 1 (04:45):
It says thirty three on mine. Oh try again, that's
what mine says. What side are you on? What side
are you on? Uh wait wait, hold on what I
refreshed the page? And what does it say?
Speaker 2 (04:58):
Has it had to refresh?
Speaker 5 (05:00):
You know?
Speaker 2 (05:00):
Lifetime?
Speaker 1 (05:00):
Now it's down. Now it's down in twenty six?
Speaker 2 (05:02):
Oh, here we go. See now mine's down a twenty five. Okay,
what's thirty Three's? Thirty three is what happens and people overreact.
It's volatile, it is, you know, it's very volatile. It's
back down to twenty five. He's messing around.
Speaker 1 (05:17):
It's just crazy how big that number changes versus the
rest of everything else. We are. We are now almost
twenty six hundred up in the Dow Jones, We are
eight percent up, ten percent up in the S.
Speaker 2 (05:27):
And P and the das Deck.
Speaker 1 (05:30):
Oh doctor, where are you? What are you thinking out
there today?
Speaker 3 (05:36):
Now?
Speaker 1 (05:36):
The art of the deal? Sure, and Donald Trump and
the White House are going to be saying, hey, you
know what, this was the deal all along. All these
countries are coming to us, and we were just ready
to pounce. The tariffs took effect for most of these
countries yesterday he resigned them into law or he signed
the thing, but it was like a week later, and
all the terrifs has dropped temporarily. For if you're wondering me,
(05:58):
the number is ten. He has increased the Chinese one
to one hundred and twenty five percent effective immediately.
Speaker 2 (06:06):
And I don't know.
Speaker 1 (06:08):
We got a ninety day pause here to get a deal.
So for ninety more days, I guess we're gonna have
to sit. What's ninety days from now? When when's the
next day? Like if you can't come to a deal
in ninety days the tariffs, the reciprocal tariffs are going
to be, you know, going on here.
Speaker 2 (06:20):
Ninety days from now would be Wednesday, July ninth. It's
probably not accurate because there's a thirty one maybe in there. Yeah,
I don't know.
Speaker 1 (06:28):
It's probably like it's probably like the fourth seventh. No wait, yeah,
how many days you would take a day off? Because
we have May thirty first, that'd be the one day,
so it'd be like this, the eighth, seventh or eighth, Oh,
the eighth, July.
Speaker 2 (06:41):
Eighth, Tuesday, July eighth, ooh, the fourth's on a Friday
this year.
Speaker 1 (06:46):
Oh, party, can't wait to have my dog's freak out
because they're hearing a bunch of bangs in the sky. Anyway,
all right, so it's two sixteen. Open the phones. Will
have more information about what's going on if you are
if you didn't sell any which you shouldn't have. And
that is advice in hindsight twenty twenty, because we now
(07:06):
know that the markets have recovered. I don't know when
you sell then, but that's not what my job is.
My job is to be a radio talk show host
and to talk to you about how you feel about stuff,
how I feel is nobody knows anything. If you would
have said this a day ago, two days ago, and
you've been able to predict what happened on Monday with
that little blip when people were talking about the ninety
day tariff. Remember that, Remember Monday when that rumor started
(07:28):
that there was gonna be a ninety day pause on
tariffs on Monday, And there there was a big spike,
and then all of a sudden, the White House like add,
we're not even talking about this, and it's got mest
in today is like this was his strategy all along.
It's like somebody accidentally said something on Monday. It kind
of set the market up to be e. And then
yesterday it started out super duper green. Trump p announced
(07:50):
more terrifts on Chyinga, it went ahead and went low again,
and then today it was just kind of rolling along,
not a whole lot to talk about, and then bam,
pause on the tariffs two days after all the talk,
and here we are as green as green can be.
And at least the last five years, this is the biggest,
baddest jump up to the stock market has recovered in
(08:12):
one day. I'm flabbergacid, I'm beside myself. Call us at
four h two five five, eight eleven ten with your
ideas and what you think about all this and your
reaction here on news radio eleven ten kfab em Resung
on news Radio eleven ten kfab.
Speaker 6 (08:29):
If you look up reciprocal tariffs, you'll see that a
lot of the articles have reciprocal in quotes, and even
more of them will tell you the tariffs aren't reciprocal
at all. On Monday, the Wall Street Journal had an
article titled Trump says tariffs are reciprocal. They aren't. It
gives the example of Vietnam, where we're proposing a forty
(08:50):
six percent tariff when their tariff is actually five point
one percent, and Taiwan, which has a two percent tariff,
charging them thirty two percent, and they actually Trump had
spoken of it many times, how he thinks the Gilded
Age was just the greatest time economically from eighteen seventy
until the income tax was passed. And they have no
(09:13):
intention of their dropping the teriffs. They want tariffs to
replace the income tax, corporate tax, capital gains tax, and
inheritance tax. And this has happened before in history with
the smooth Holly terr eff Act they sold it in
something that would create jobs. That when people have to
spend more by things, that shuts down consumer demand and
(09:35):
we lose jobs. It also happened in eighteen twenty eight
with the tariff that came to be called the Tariff
of Abominations, and it almost started the Civil War because
South Carolina said, your tariffs are an abomination, so we're
going to do a nullification. So finally there was a
compromise where the tariffs were withdrawn, just like when in
(09:56):
nineteen thirty four Franklin Roosevelt signed the Reciprocal Agreements Act,
which got rid of the Smooth Holly tariffs, and things
were uphill from there.
Speaker 1 (10:05):
Okay, well, Brian, I guess what's the moral of this story?
Speaker 3 (10:09):
I guess, well, the.
Speaker 6 (10:12):
Moral is he just paused the tariffs so they can
pass the tax cut. And like with Elon Musk saying
there's a billion dollar survey with ten questions on it,
there's no billion dollar survey with ten questions on it.
I just want to do whatever they can to pass
the tax cuts, which never pay for themselves.
Speaker 2 (10:29):
Yeah.
Speaker 1 (10:29):
But right, Brian, this has been a week. Right, If
that was the plan, wouldn't they have just done that
and then do the tariff thing, or like, why did
they have to do the tariff thing? If it had
if they were concerned about that, wouldn't they have just
waited a week to do that. So they get the
tax thing done and then they do the tariffs.
Speaker 3 (10:47):
I mean that's because.
Speaker 6 (10:48):
That's because they're really stupid and didn't realize how negatively
it would be reacted to. And now they realized, oh,
we're not going to be able to pass the tax
cuts with all this negativity.
Speaker 1 (11:00):
But Brian, how do you explain all the countries that
came to the United States wanting to adjust their trade deal?
Then they have seventy five countries at least that they
say that they're talking to, including the EU, which is
not a country I understand, but the different entities that
they're speaking with to try to make deals. It has
affected all of these markets in a way that people say, hey,
we need the United States. How can we get this fixed?
(11:22):
And they seem to want to fix it. So how
do you explain that they can be really stupid because
maybe they didn't know how bad it would get. But
it does definitely seems like they have made some hay
here with what their goals were to adjust the trade
deals with these other countries. You can't say that that's
not happening.
Speaker 6 (11:40):
But other countries, many of them said that zero out
there tariff, but Trump and Navarro said, oh, that's no good.
Novara was on Fox News saying, oh, well, there are
other considerations, you know, so it doesn't matter if they
zero out.
Speaker 1 (11:54):
There ran which ones? Tell me which ones are you
talking about? Which country are you speaking of? One of
the zero out there tariffs in the United States said nope, nope,
that's not good enough.
Speaker 6 (12:03):
Which one the European Union? The European Union offered that.
Speaker 1 (12:07):
Yeah, they offered that on industrials, only they didn't. It
wasn't across the board. That was like for a specific
sector of business. It wasn't across the board. Brian, Brian,
I think you're trying to tell me, on a day
in which tariffs have been paused, that this was some
sort of like elaborate, you know, bait and switch so
(12:27):
they can get something else done. When everybody online that
is an expert in this that I'm reading within the
last two hours since all this has gone on, is
saying this actually was literally an accomplishment because you had
seventy five plus countries come to the table and say, look,
we want to fix this. How can we fix this?
(12:49):
And Trump said, for everybody but China, we will negotiate
for ninety days. It seems like a good thing that
we were able to achieve this in just a week.
And you're telling me, well, this is just a and
switch and they want to keep the tariffs on. They
just need to kill them for ninety days so they
can pass the tax cuts. I just don't see how
that correlates here, Brian. All right, I guess Brian. I
(13:09):
guess Brian has done saying stuff. But I believe you
can you can hate the Trump administration, you can dislike
conservative politics, but you can't just tell me that they're
stupid enough to just like, hey, we're gonna start tariffs,
and now we're gonna stop tariffs, and it's all about
that tax cuts now, and then we're gonna put tariff's back.
What Eric's on the phone line? Four oh two, five, five,
(13:29):
eight eleven ten, Eric, what's up?
Speaker 3 (13:32):
Hey?
Speaker 5 (13:33):
I just wanted to call and show appreciation for.
Speaker 7 (13:36):
The entire kfab audience that Brian decided to stop talking
I'm kind of surprised that more people don't call on
a regular basis and shame Brian that talks constantly without
stopping about nothing. He clearly has screws loose, and I'm
just surprised more people don't call and complain about Brian.
(14:00):
But equal time, equal time.
Speaker 1 (14:02):
Yeah, no, Eric, I wish I had enough that I
could I could argue, I could banter with you about
to allow you the same amount of time, But I
just have so many follow up questions for Brian that
just kind of like confuses me, and I get bamboozled. Sometimes.
I'm sorry that he has to take over the show,
but at the same time, I kind of like talking
to him because it's such a different perspective than we
usually get. Even if it sounds mildly insane most of
(14:24):
the time.
Speaker 7 (14:25):
It's okay, it's okay, I'm.
Speaker 5 (14:27):
Laughing, I'm glack.
Speaker 1 (14:28):
All right, Thanks buddy, appreciate the call. All right, Greg Mark,
more phone calls, keep me calling here. Let's talk the
big picture, Let's talk macro. Let's talk about what's going
to happen next four oh two, five, five, eight, eleven, ten,
We speak with you on this show next on News
Radio eleven ten kfab Emery Sunger. There's a real good
(14:48):
chance that we're in the top five of days all
time on the stock market. And this all has to
do if you missed it, Donald Trump saying we're putting
a ninety day pause on tariffs for every country that's
not China. And China, by the way, here's a one
and twenty five percent tariff for your for your craw
stick that in your craw Uh. We're talking to you though,
(15:10):
four two, five, five, eight, eleven ten. Greg is on
the line. Welcome in, Greg. Thoughts on what you're seeing today?
Speaker 5 (15:16):
Yeah, Hey, I think everybody needs to look at the
big picture. A lot of this what's going on is
to isolate China, and this will drive Brian crazy, but
it comes down to this, do you want the world
where the superpower is the United States of America or
communist China. That's what a lot of this is about.
It's like a freedom storry.
Speaker 8 (15:35):
Go ahead.
Speaker 1 (15:35):
Well, I'm just gonna say it's kind of a little
bit of a two point zero version of the Cold
War in a way, isn't it?
Speaker 5 (15:40):
Yes, exactly, it is, because who wants the country or
world for the top dog. Let's face it, there's always
been a top top dog in the world, whether it's
a British empire or whatever. Who wants that to be
a communist country? Not me and soda. Most Americans don't
want that either.
Speaker 1 (15:58):
Well, I don't think anybody in the world that's not
a communist government wants that. Which is that It's gonna
be right, and it'll be interesting to see what the general
reaction is here and if other countries help pile on
China and force them to kind of fold their hand
quite a bit and recognize where they are, or or
maybe they just decide, hey, you know, there's a there's
(16:19):
never been a better time for us to take Taiwan.
That's I guess that's all Plan B for them.
Speaker 5 (16:24):
Yeah, that's possibility. But you'll see the rest of the
world come around, the same world. They'll come around. They
know who's fight, they know where the money lies and
where the power lies. It lies in the United States
of America.
Speaker 2 (16:36):
Yeah.
Speaker 1 (16:37):
The only thing, yeah, no problem, Greg. The only thing
in that scenario would be if China decided to do
something a bit aggressive and say occupy Taiwan or whatever,
where Russia would go because Russia has a quasi relationship
with them, and Iran and North Korea. Right those are
like the four countries that have kind of been working together.
(16:57):
China starts getting isolated like this to those other countries,
say we're not with them. Actually it's okay, let's make
our own deals with the United States and stay on
their good side. And then what's the likelihood that China
is going to just do all that stuff by themselves?
I think quite unlikely. Mark's on a phone line four
O two five five, eight eleven ten, Mark, Welcome into
the show today.
Speaker 2 (17:17):
How you doing.
Speaker 3 (17:18):
Yeah, okay, Hey, I really don't understand a whole lot
of this stuff. And it's a legitimate. What's not legitimate.
I don't understand why the stock market was falling any
way for the last couple of days. There's tariffs coming
and going from all the countries in the first place. Now,
(17:39):
if this is all legitimate, I believe that Trump wants
to slay the dragon. That's all there is to it.
And like your previous caller, they want to see who
they can take the countries away from China. But again,
who's gonna fill China right now? I mean it would
take a while for even America, if we're going to
(18:00):
have these factories or whatever. I think this takes time
to start rebuilding this stuff back in this country. Yeah,
and in the meantime, the Democrats could get back in
charge again and then it'll all be wiped out anyway.
So I kind of look at the stock market, like
America votes. We're so fickle, you know. We go to
(18:22):
one side, then we drifted the other, and we need
to be more stable. But what really sends me the
most is Congress. They need, they need to fight for
this country. I don't care what your views are, you're
representing this country. I don't understand how they could be.
The Democrats could be trying to represent illegals in this country.
(18:46):
I don't understand that.
Speaker 1 (18:47):
Yeah, well, well Mark that that is a completely different
can of worms. And I'm not even sure I can
even think about help them.
Speaker 3 (18:54):
But it's still they're identifying themselves. America should always to
be first. And this is what I'm a little bit
older to you, and I grew up with the World
War two generations. My folks, Huh, they didn't care what
party it was. America was first, always sure, And this
is where we need to get back.
Speaker 1 (19:16):
To well, I think maybe we can get back to that,
especially if China somehow there's a way that they come
to the table and they want to make a deal
at some point. I don't know what the process is
going to be on that, but Mark, I do think
you're onto something there about just thinking about America first
and foremost. And I appreciate the call today. Tom's on
our phone line as we roll along, Tom, how you
(19:37):
feeling today?
Speaker 5 (19:39):
Well, Emory, I'll be doing a little better when I
cracked my first hands in a couple of hours.
Speaker 2 (19:44):
Oh that sounds good.
Speaker 5 (19:46):
You had you had a caller that said, nobody points
out to Brian, what you know what the stupidity is?
And I want to offer this to Brian because I
think he's still listening. Stupidity to me is an administration
that prints trillions of dollars and force it into the economy,
(20:07):
drives inflation of twenty percent. They make a deal with
Russia to buy oil from Russia ten percent of oil
from Russia. They never disclosed the price per barrel, and
shortly after that gas locally went up to four seventy
a gallon something like that. They went back to paying
for abortions in foreign countries. And then so of course
(20:30):
we look at the price of food. Bankerucies were up
sixty percent, personal credit card that sword and this is
all over the last administration, which really didn't care and
to me the ultimate disgraces. You still had sixty some
million people who were going to vote to continue that
(20:51):
administration just because they don't like the guy with orange hair.
Speaker 1 (20:56):
So yeah, well, the the what do they call it,
the the crow is coming to the rooster something like that, whatever,
whatever that's saying is, it's it's coming, It's coming tom
because as as soon as this these deals get done
and these tariffs aren't coming back the Brian's of the world.
And all due respect to Brian, like I said, I
(21:18):
enjoy having people with very different opinions come on the show,
and I appreciate anyone with the guts to debate me
on stuff, and I like that, But you're his entire
point was that this was some sort of bait and
switch to get tax cuts done and then he's going
to go right back to putting the tariffs on. Well
what if the deals get done and all of a sudden,
our trade agreements are better and the prices end up
(21:39):
going down for everything. And at the same time, we're
stimulating the American economy and at the same time we're
kind of harming China's economy in a way that they
have to come to the table and negotiate with us too.
That all sounds like a positive for us.
Speaker 5 (21:51):
Well, the other thing is, you know, Brian, you know,
he gets his interpretation of a reciprocal tariff from something
he reads, and what he needs to do is aren't
observing and what Trump means by a reciprocal tariff, Well,
this country is going to do this. We're going to
throw it right back at him until we can both
reduce this down to something manageable, because I firmly believe
(22:12):
Trump does not want to have terriffs. He wants to
have free trade. Yeah, he just doesn't want the country
to be taken advantage of. And you know, these anti
Trump people they're just so they're so blinded by their
CDEs that they just don't see it. And I mean,
the man hasn't even been in office for what three months?
Speaker 1 (22:32):
Yeah, no, two and a half, Yeah, two and a half.
We got a long way to go. Yeah, Hey, Tom,
appreciate the call. Thanks for listening to us Doug on
a phone line. Let's squeeze Doug in here before I
hit a break. Doug, thanks for holding what's on your
mind today?
Speaker 5 (22:43):
Thank you much, very Amory.
Speaker 8 (22:45):
You know, I think it's fassing what Trump really owes
allegiance to and somebody glad to he was the legacy media.
They're the ones that went crazy, you know, the writers,
the CNN and all those people do nettie about what's
going to happen to the country, how we're gonna fail
economically and everything else, because what's gonna happ with with tariffs?
Trump played them all like fools, like they always are.
(23:05):
They're predictable idiots, and frankly, I didn't realize you would
probably go back this quick lunch truth. You know, I
can see why he did. There's no reason to keep going.
Once you get the people on the table and they negotiate,
then you can achieve better outcomes for free trade. I
had a Trump wants trade tariffs, you know, to go
on forever, but some kinship will necessary to get them
(23:25):
to comply, and we'll do it. Yeah with China, it's
absolute necessary.
Speaker 1 (23:28):
Yeah, Well, I got some interesting audio. I'm going to
play from Kevin O'Leary, the guy from Shark Tank, mister Wonderful,
and he he was on CNN last night and I
thought he nailed China really well and explained the whole
thing from a good perspective. And I'm going to share
that audio. Like you said, Doug, I think it needed
to happen. I do appreciate the call today, and if
(23:49):
you want to call, we'll talk to you too. Bottom
of the next hour are going to be completely changing
things up, so I got a little bit more time
to chat about this. If you want four O two
five five eight eleven ten is the number, or you
can email me at kfab dot com. More on the
way on news Radio eleven ten Kfab em Marie Sunger, Terrence.
His name's Terrence, Thomas, Kevin O'Leary.
Speaker 2 (24:09):
What's he do with all those names? I don't know,
but here's Thomas, Kevin O'Leary.
Speaker 1 (24:13):
He went with Kevin and most people just know him
as mister Wonderful because of you know, Shark Tank and
all that stuff. But here's uh. I have some audio.
He was on CNN yesterday and what he was doing
on CNN was being questioned about tariffs, and this is
when we were still under one hundred and four percent
tariffs and acted against Charita is about to happen yesterday,
(24:34):
and here's what he had to say about it, because
I think it's pretty important from a real big business perspective.
And there will be some interjections from another CNN host
in the middle of it, but take a listen.
Speaker 9 (24:44):
One hundred and four percent tariffs in China are not enough.
I'm advocating four hundred percent. I do business to China.
They don't play by the rules. They've been in the
WHO for decades. They have never abided by any of
the rules they agreed to when they came in for decades.
They cheat, they steal, they steal ip I can't litigate
in their courts. They take product, technology, they steal it,
(25:06):
they manufacture it.
Speaker 2 (25:07):
And sell it back.
Speaker 9 (25:08):
Here never has an administrator and four or I want
chie on an airplane to Washington to level the playing field.
It says not about tariffs anymore. Nobody has taken on
China yet, not the Europeans, no administration for decades. As
someone who actually does business there, I've had enough. I
(25:30):
speak for millions of Americans who have ip that have
been stolen by the Chinese. I have nothing against the
Chinese people. They've brought great literacy, art, and tech to
the world. The government cheats and steals, and finally, an administration.
You may not like Trump, you may not like his
(25:50):
style or his rhetoric. Finally an administration that puts up
and says enough four hundred percent tariffs Tomorrow morning, he'll
tell you why. She can only stay the supreme leader
if people are employed, if we wipe out any business there,
Because we are still thirty nine percent of all consumables
(26:13):
on Earth and twenty five percent of the world's GDP,
America is the number one economy on Earth.
Speaker 1 (26:18):
With all the cards.
Speaker 9 (26:19):
We will not have that forever. It's time to squeeze
Chinese heads into the wall.
Speaker 1 (26:24):
Now, well, hold on, Terriff.
Speaker 6 (26:26):
I hear you, But hold on.
Speaker 10 (26:28):
If we're talking about people, the average consumer, not necessarily
the head honchos of businesses all across the globe. Can
they withstand the pressure of that sort of tax.
Speaker 1 (26:40):
On the goods lived?
Speaker 6 (26:41):
There will be?
Speaker 10 (26:42):
But yeah, but what's your timeline, comparent. You don't know
the average Americans timeline, what they can actually survive.
Speaker 6 (26:47):
There's people right now who can survive one.
Speaker 9 (26:50):
Percent tomorrow morning cheese on an airplane to Washington to
cut a deal.
Speaker 1 (26:54):
Yeah, it's it's an interesting way to talk about that
four hundred percent tariff on the Chinese happened. And I
think that was the first question that that person asks.
I don't know her name. I think he's thinking, I
don't think that's at all realistic, but you put a
four hundred percent tariff on Chinese goods there. That's one
of those things where it's like, Okay, you don't really
(27:14):
mean to do anything other than like, we know what
you're doing. There's not a lot of subtlety. There's not
gonna be a lot of pain there. That's like going
all in when you have an ace king in the
poker hand. You're going all in and it's such a
big bet that nobody else on the table even wants
to play right. Well, we're doing to them now at
least gives us a little bit of time, like a
window of time to see how they'll react, see if
(27:36):
they will come and want to make a deal with us.
But if they don't, if they decide to play stubborn,
they'll have we'll have a chance to see exactly how
we can operate without them or what other countries reaction
to their situation is. And I like that. I think
it's important to see that when you see that stuff
coming to fruition and you start understanding how it can
(27:56):
affect the market with just one large country like China
and then the entire world, you only have one place
to look for the blame. It's them, and it's their
markets have not recovered. You know, we're getting we're counting
down the minutes here to close. Dude, have you seen
the numbers? Are you looking at these numbers right now?
It's just getting bigger and better on Wall Street and
(28:20):
it will recap the numbers when you come back at
the top of the three o'clock hour here. But it's
mind boggling how much it's gained by just announcing that
all of the other countries essentially including the EU, including Canada,
including Mexico ninety day pause on those tariffs, the Chinese
tariffs have gone up to one hundred and twenty five percent,
and yet we're still seeing one of the biggest rebound
(28:43):
days ever on the stock market. It's absolutely insane the
numbers we're seeing here. So once they close, once we
actually have a final number on that, when the bell hits,
we're gonna give that to you on the other side.
But who what a day, What a day.
Have you watched Australian rules football.
Speaker 2 (00:01):
I have not. I don't know what makes it so cool,
and it's something I need to check out.
Speaker 1 (00:05):
Just come to my house. Okay, we'll throw back some
hams and I'll tell you about why Australian rules football
is the greatest sport in the world.
Speaker 2 (00:13):
Okay, is it like is it more like soccer or
American football? Well, i'll tell you in a bit because
it's interesting. But I just needed an hour away from
stuff for a second. Sure, and by the time I
got back to checking out the news, everything's green on
the stock market all of a sudden. So Matt, can
you do me a favor and tell me what the
latest readings are on the Stock Exchange and the major
(00:36):
indexes or indices or whatever the term is. Yeah, I
would be happy to The Dow Jones is up two thousand,
four hundred and forty eight points. What two thousand, four
hundred and forty eight that's right, twenty four hundred, that's right.
And you know what we just did, by a bing baby,
We just got into forty forty thousand again.
Speaker 3 (00:57):
Wow.
Speaker 2 (00:58):
Now we don't know where it'll close. We still got
an hour to go. We have fifty two minutes left
before close. But right now it's up six and a
half percent. It just crested forty thousand again, the tank
is clean. What's the reference for finding NEMO? Sorry?
Speaker 1 (01:12):
Oh yeah, good, good idea. Okay, so that's dal Jones
industrial average. What is the s and P five hundred?
Speaker 2 (01:19):
The S and P five hundred is well, it just
it's switching around on me here. But I'll just say
seven and a half percent up, three hundred and seventy
four points up, sitting at five thousand, three hundred and
fifty seven. Yeah, seven and a half percent up, nas
Dak seven and a half percent, yeah, Nasdak even better.
We're feeling good about those tech stocks, okay, nine and
(01:40):
a half percent up? What yeah, one four hundred and
forty one. This is the biggest rally in a single
day in over five years. Fullall Street, tiny little Russell
two K, the little engine that could, is up seven
point seven four percent.
Speaker 1 (01:54):
I only should have bought yesterday. I am not a
financial advisor. Mat Case mc case is also not a
financial advice. Do not take financial advice from us, right
Everything that we say is about our personal lives and
not yours. Yeah, so don't don't do stuff based on
what we're saying. Okay, do you think I covered it
well there so nobody gets us in trouble.
Speaker 2 (02:16):
Yeah, I could cut a disclaimer for that. You can
just hit a button every time.
Speaker 1 (02:20):
I don't know. I don't I don't want you to read.
I don't want you to get too crazy with it.
There's so much on your plate already. Okay, so we'll
keep we'll keep poking around. Am I saying? Is it
twenty five? One hundred now? The dal Jones? Is this
still going up?
Speaker 2 (02:36):
Yeah, it's twenty five, it's still going up.
Speaker 1 (02:38):
I don't know, this is what I'm saying. Does anybody
really know what's going on out there? There's a few
people in the world that know what's going on. Scott
best since one of them. He is the Secretary of
the Treasury, and he gets asked about this. He's been
asked about it over and over again in the last week,
because remember this is only a week ago.
Speaker 2 (02:56):
I don't know.
Speaker 1 (02:56):
I feel like I've aged two years since the tariffs
were announced for a variety of reasons. But Secretary of
the Treasury, Scott Bessent has an update and this is
what he said when speaking with the media today.
Speaker 4 (03:08):
I could just add to what the secretary said. Many
of you in the media clearly missed the art of
the deal. You clearly failed to see what President Trump
is doing here. You tried to say that the rest
of the world would be moved closer to China, when
in fact we've seen the opposite effect. The entire world
is calling the United States of America, not China, because
they need our markets, they need our consumers, and they
(03:30):
need this president in the Oval Office to talk to them.
And that's exactly why more than seventy five countries have called.
Because the United States of America is the best place
in the world to do business, and as the President
has shown great courage, as the Secretary have said, and
choosing to retaliate against China.
Speaker 1 (03:45):
Ah, that's enough. Yeah, sorry, that's obviously not Scott Bess
and he's just in the picture. It's Caroline Levitt who
stepped in and said all that many of you in
the media clearly missed the art of the deal. M interesting,
So what now is this permanent? Is this tariff pause permanent?
Obviously it's not for China. We'll get to China a
(04:06):
bit later, because they are they're who we really want
to go after here. First of all, what do we
what do we believe here?
Speaker 2 (04:13):
What do we.
Speaker 1 (04:13):
Nazak is ten percent up? It's ten percent up today,
ten percent up? Ah wow, congratulations, cheers to everybody. It's
a Wednesday, but it's gonna get washy in.
Speaker 2 (04:26):
Here, feeling good? Yeah, Wednesday?
Speaker 1 (04:28):
What's that? What's that VIX doing? What's the what's the
vapor rub? No vix the volatile index. It's listed as
VIX on all the Wall Street stuff.
Speaker 2 (04:38):
Well, the only thing in the red these days is volatility.
Oh it's down twenty five, almost twenty six percent.
Speaker 1 (04:45):
It says thirty three on mine. Oh try again, that's
what mine says. What side are you on? What side
are you on? Uh wait wait, hold on what I
refreshed the page? And what does it say?
Speaker 2 (04:58):
Has it had to refresh?
Speaker 5 (05:00):
You know?
Speaker 2 (05:00):
Lifetime?
Speaker 1 (05:00):
Now it's down. Now it's down in twenty six?
Speaker 2 (05:02):
Oh, here we go. See now mine's down a twenty five. Okay,
what's thirty Three's? Thirty three is what happens and people overreact.
It's volatile, it is, you know, it's very volatile. It's
back down to twenty five. He's messing around.
Speaker 1 (05:17):
It's just crazy how big that number changes versus the
rest of everything else. We are. We are now almost
twenty six hundred up in the Dow Jones, We are
eight percent up, ten percent up in the S.
Speaker 2 (05:27):
And P and the das Deck.
Speaker 1 (05:30):
Oh doctor, where are you? What are you thinking out
there today?
Speaker 3 (05:36):
Now?
Speaker 1 (05:36):
The art of the deal? Sure, and Donald Trump and
the White House are going to be saying, hey, you
know what, this was the deal all along. All these
countries are coming to us, and we were just ready
to pounce. The tariffs took effect for most of these
countries yesterday he resigned them into law or he signed
the thing, but it was like a week later, and
all the terrifs has dropped temporarily. For if you're wondering me,
(05:58):
the number is ten. He has increased the Chinese one
to one hundred and twenty five percent effective immediately.
Speaker 2 (06:06):
And I don't know.
Speaker 1 (06:08):
We got a ninety day pause here to get a deal.
So for ninety more days, I guess we're gonna have
to sit. What's ninety days from now? When when's the
next day? Like if you can't come to a deal
in ninety days the tariffs, the reciprocal tariffs are going
to be, you know, going on here.
Speaker 2 (06:20):
Ninety days from now would be Wednesday, July ninth. It's
probably not accurate because there's a thirty one maybe in there. Yeah,
I don't know.
Speaker 1 (06:28):
It's probably like it's probably like the fourth seventh. No wait, yeah,
how many days you would take a day off? Because
we have May thirty first, that'd be the one day,
so it'd be like this, the eighth, seventh or eighth, Oh,
the eighth, July.
Speaker 2 (06:41):
Eighth, Tuesday, July eighth, ooh, the fourth's on a Friday
this year.
Speaker 1 (06:46):
Oh, party, can't wait to have my dog's freak out
because they're hearing a bunch of bangs in the sky. Anyway,
all right, so it's two sixteen. Open the phones. Will
have more information about what's going on if you are
if you didn't sell any which you shouldn't have. And
that is advice in hindsight twenty twenty, because we now
(07:06):
know that the markets have recovered. I don't know when
you sell then, but that's not what my job is.
My job is to be a radio talk show host
and to talk to you about how you feel about stuff,
how I feel is nobody knows anything. If you would
have said this a day ago, two days ago, and
you've been able to predict what happened on Monday with
that little blip when people were talking about the ninety
day tariff. Remember that, Remember Monday when that rumor started
(07:28):
that there was gonna be a ninety day pause on
tariffs on Monday, And there there was a big spike,
and then all of a sudden, the White House like add,
we're not even talking about this, and it's got mest
in today is like this was his strategy all along.
It's like somebody accidentally said something on Monday. It kind
of set the market up to be e. And then
yesterday it started out super duper green. Trump p announced
(07:50):
more terrifts on Chyinga, it went ahead and went low again,
and then today it was just kind of rolling along,
not a whole lot to talk about, and then bam,
pause on the tariffs two days after all the talk,
and here we are as green as green can be.
And at least the last five years, this is the biggest,
baddest jump up to the stock market has recovered in
(08:12):
one day. I'm flabbergacid, I'm beside myself. Call us at
four h two five five, eight eleven ten with your
ideas and what you think about all this and your
reaction here on news radio eleven ten kfab em Resung
on news Radio eleven ten kfab.
Speaker 6 (08:29):
If you look up reciprocal tariffs, you'll see that a
lot of the articles have reciprocal in quotes, and even
more of them will tell you the tariffs aren't reciprocal
at all. On Monday, the Wall Street Journal had an
article titled Trump says tariffs are reciprocal. They aren't. It
gives the example of Vietnam, where we're proposing a forty
(08:50):
six percent tariff when their tariff is actually five point
one percent, and Taiwan, which has a two percent tariff,
charging them thirty two percent, and they actually Trump had
spoken of it many times, how he thinks the Gilded
Age was just the greatest time economically from eighteen seventy
until the income tax was passed. And they have no
(09:13):
intention of their dropping the teriffs. They want tariffs to
replace the income tax, corporate tax, capital gains tax, and
inheritance tax. And this has happened before in history with
the smooth Holly terr eff Act they sold it in
something that would create jobs. That when people have to
spend more by things, that shuts down consumer demand and
(09:35):
we lose jobs. It also happened in eighteen twenty eight
with the tariff that came to be called the Tariff
of Abominations, and it almost started the Civil War because
South Carolina said, your tariffs are an abomination, so we're
going to do a nullification. So finally there was a
compromise where the tariffs were withdrawn, just like when in
(09:56):
nineteen thirty four Franklin Roosevelt signed the Reciprocal Agreements Act,
which got rid of the Smooth Holly tariffs, and things
were uphill from there.
Speaker 1 (10:05):
Okay, well, Brian, I guess what's the moral of this story?
Speaker 3 (10:09):
I guess, well, the.
Speaker 6 (10:12):
Moral is he just paused the tariffs so they can
pass the tax cut. And like with Elon Musk saying
there's a billion dollar survey with ten questions on it,
there's no billion dollar survey with ten questions on it.
I just want to do whatever they can to pass
the tax cuts, which never pay for themselves.
Speaker 2 (10:29):
Yeah.
Speaker 1 (10:29):
But right, Brian, this has been a week. Right, If
that was the plan, wouldn't they have just done that
and then do the tariff thing, or like, why did
they have to do the tariff thing? If it had
if they were concerned about that, wouldn't they have just
waited a week to do that. So they get the
tax thing done and then they do the tariffs.
Speaker 3 (10:47):
I mean that's because.
Speaker 6 (10:48):
That's because they're really stupid and didn't realize how negatively
it would be reacted to. And now they realized, oh,
we're not going to be able to pass the tax
cuts with all this negativity.
Speaker 1 (11:00):
But Brian, how do you explain all the countries that
came to the United States wanting to adjust their trade deal?
Then they have seventy five countries at least that they
say that they're talking to, including the EU, which is
not a country I understand, but the different entities that
they're speaking with to try to make deals. It has
affected all of these markets in a way that people say, hey,
we need the United States. How can we get this fixed?
(11:22):
And they seem to want to fix it. So how
do you explain that they can be really stupid because
maybe they didn't know how bad it would get. But
it does definitely seems like they have made some hay
here with what their goals were to adjust the trade
deals with these other countries. You can't say that that's
not happening.
Speaker 6 (11:40):
But other countries, many of them said that zero out
there tariff, but Trump and Navarro said, oh, that's no good.
Novara was on Fox News saying, oh, well, there are
other considerations, you know, so it doesn't matter if they
zero out.
Speaker 1 (11:54):
There ran which ones? Tell me which ones are you
talking about? Which country are you speaking of? One of
the zero out there tariffs in the United States said nope, nope,
that's not good enough.
Speaker 6 (12:03):
Which one the European Union? The European Union offered that.
Speaker 1 (12:07):
Yeah, they offered that on industrials, only they didn't. It
wasn't across the board. That was like for a specific
sector of business. It wasn't across the board. Brian, Brian,
I think you're trying to tell me, on a day
in which tariffs have been paused, that this was some
sort of like elaborate, you know, bait and switch so
(12:27):
they can get something else done. When everybody online that
is an expert in this that I'm reading within the
last two hours since all this has gone on, is
saying this actually was literally an accomplishment because you had
seventy five plus countries come to the table and say, look,
we want to fix this. How can we fix this?
(12:49):
And Trump said, for everybody but China, we will negotiate
for ninety days. It seems like a good thing that
we were able to achieve this in just a week.
And you're telling me, well, this is just a and
switch and they want to keep the tariffs on. They
just need to kill them for ninety days so they
can pass the tax cuts. I just don't see how
that correlates here, Brian. All right, I guess Brian. I
(13:09):
guess Brian has done saying stuff. But I believe you
can you can hate the Trump administration, you can dislike
conservative politics, but you can't just tell me that they're
stupid enough to just like, hey, we're gonna start tariffs,
and now we're gonna stop tariffs, and it's all about
that tax cuts now, and then we're gonna put tariff's back.
What Eric's on the phone line? Four oh two, five, five,
(13:29):
eight eleven ten, Eric, what's up?
Speaker 3 (13:32):
Hey?
Speaker 5 (13:33):
I just wanted to call and show appreciation for.
Speaker 7 (13:36):
The entire kfab audience that Brian decided to stop talking
I'm kind of surprised that more people don't call on
a regular basis and shame Brian that talks constantly without
stopping about nothing. He clearly has screws loose, and I'm
just surprised more people don't call and complain about Brian.
(14:00):
But equal time, equal time.
Speaker 1 (14:02):
Yeah, no, Eric, I wish I had enough that I
could I could argue, I could banter with you about
to allow you the same amount of time, But I
just have so many follow up questions for Brian that
just kind of like confuses me, and I get bamboozled. Sometimes.
I'm sorry that he has to take over the show,
but at the same time, I kind of like talking
to him because it's such a different perspective than we
usually get. Even if it sounds mildly insane most of
(14:24):
the time.
Speaker 7 (14:25):
It's okay, it's okay, I'm.
Speaker 5 (14:27):
Laughing, I'm glack.
Speaker 1 (14:28):
All right, Thanks buddy, appreciate the call. All right, Greg Mark,
more phone calls, keep me calling here. Let's talk the
big picture, Let's talk macro. Let's talk about what's going
to happen next four oh two, five, five, eight, eleven, ten,
We speak with you on this show next on News
Radio eleven ten kfab Emery Sunger. There's a real good
(14:48):
chance that we're in the top five of days all
time on the stock market. And this all has to
do if you missed it, Donald Trump saying we're putting
a ninety day pause on tariffs for every country that's
not China. And China, by the way, here's a one
and twenty five percent tariff for your for your craw
stick that in your craw Uh. We're talking to you though,
(15:10):
four two, five, five, eight, eleven ten. Greg is on
the line. Welcome in, Greg. Thoughts on what you're seeing today?
Speaker 5 (15:16):
Yeah, Hey, I think everybody needs to look at the
big picture. A lot of this what's going on is
to isolate China, and this will drive Brian crazy, but
it comes down to this, do you want the world
where the superpower is the United States of America or
communist China. That's what a lot of this is about.
It's like a freedom storry.
Speaker 8 (15:35):
Go ahead.
Speaker 1 (15:35):
Well, I'm just gonna say it's kind of a little
bit of a two point zero version of the Cold
War in a way, isn't it?
Speaker 5 (15:40):
Yes, exactly, it is, because who wants the country or
world for the top dog. Let's face it, there's always
been a top top dog in the world, whether it's
a British empire or whatever. Who wants that to be
a communist country? Not me and soda. Most Americans don't
want that either.
Speaker 1 (15:58):
Well, I don't think anybody in the world that's not
a communist government wants that. Which is that It's gonna
be right, and it'll be interesting to see what the general
reaction is here and if other countries help pile on
China and force them to kind of fold their hand
quite a bit and recognize where they are, or or
maybe they just decide, hey, you know, there's a there's
(16:19):
never been a better time for us to take Taiwan.
That's I guess that's all Plan B for them.
Speaker 5 (16:24):
Yeah, that's possibility. But you'll see the rest of the
world come around, the same world. They'll come around. They
know who's fight, they know where the money lies and
where the power lies. It lies in the United States
of America.
Speaker 2 (16:36):
Yeah.
Speaker 1 (16:37):
The only thing, yeah, no problem, Greg. The only thing
in that scenario would be if China decided to do
something a bit aggressive and say occupy Taiwan or whatever,
where Russia would go because Russia has a quasi relationship
with them, and Iran and North Korea. Right those are
like the four countries that have kind of been working together.
(16:57):
China starts getting isolated like this to those other countries,
say we're not with them. Actually it's okay, let's make
our own deals with the United States and stay on
their good side. And then what's the likelihood that China
is going to just do all that stuff by themselves?
I think quite unlikely. Mark's on a phone line four
O two five five, eight eleven ten, Mark, Welcome into
the show today.
Speaker 2 (17:17):
How you doing.
Speaker 3 (17:18):
Yeah, okay, Hey, I really don't understand a whole lot
of this stuff. And it's a legitimate. What's not legitimate.
I don't understand why the stock market was falling any
way for the last couple of days. There's tariffs coming
and going from all the countries in the first place. Now,
(17:39):
if this is all legitimate, I believe that Trump wants
to slay the dragon. That's all there is to it.
And like your previous caller, they want to see who
they can take the countries away from China. But again,
who's gonna fill China right now? I mean it would
take a while for even America, if we're going to
(18:00):
have these factories or whatever. I think this takes time
to start rebuilding this stuff back in this country. Yeah,
and in the meantime, the Democrats could get back in
charge again and then it'll all be wiped out anyway.
So I kind of look at the stock market, like
America votes. We're so fickle, you know. We go to
(18:22):
one side, then we drifted the other, and we need
to be more stable. But what really sends me the
most is Congress. They need, they need to fight for
this country. I don't care what your views are, you're
representing this country. I don't understand how they could be.
The Democrats could be trying to represent illegals in this country.
(18:46):
I don't understand that.
Speaker 1 (18:47):
Yeah, well, well Mark that that is a completely different
can of worms. And I'm not even sure I can
even think about help them.
Speaker 3 (18:54):
But it's still they're identifying themselves. America should always to
be first. And this is what I'm a little bit
older to you, and I grew up with the World
War two generations. My folks, Huh, they didn't care what
party it was. America was first, always sure, And this
is where we need to get back.
Speaker 1 (19:16):
To well, I think maybe we can get back to that,
especially if China somehow there's a way that they come
to the table and they want to make a deal
at some point. I don't know what the process is
going to be on that, but Mark, I do think
you're onto something there about just thinking about America first
and foremost. And I appreciate the call today. Tom's on
our phone line as we roll along, Tom, how you
(19:37):
feeling today?
Speaker 5 (19:39):
Well, Emory, I'll be doing a little better when I
cracked my first hands in a couple of hours.
Speaker 2 (19:44):
Oh that sounds good.
Speaker 5 (19:46):
You had you had a caller that said, nobody points
out to Brian, what you know what the stupidity is?
And I want to offer this to Brian because I
think he's still listening. Stupidity to me is an administration
that prints trillions of dollars and force it into the economy,
(20:07):
drives inflation of twenty percent. They make a deal with
Russia to buy oil from Russia ten percent of oil
from Russia. They never disclosed the price per barrel, and
shortly after that gas locally went up to four seventy
a gallon something like that. They went back to paying
for abortions in foreign countries. And then so of course
(20:30):
we look at the price of food. Bankerucies were up
sixty percent, personal credit card that sword and this is
all over the last administration, which really didn't care and
to me the ultimate disgraces. You still had sixty some
million people who were going to vote to continue that
(20:51):
administration just because they don't like the guy with orange hair.
Speaker 1 (20:56):
So yeah, well, the the what do they call it,
the the crow is coming to the rooster something like that, whatever,
whatever that's saying is, it's it's coming, It's coming tom
because as as soon as this these deals get done
and these tariffs aren't coming back the Brian's of the world.
And all due respect to Brian, like I said, I
(21:18):
enjoy having people with very different opinions come on the show,
and I appreciate anyone with the guts to debate me
on stuff, and I like that, But you're his entire
point was that this was some sort of bait and
switch to get tax cuts done and then he's going
to go right back to putting the tariffs on. Well
what if the deals get done and all of a sudden,
our trade agreements are better and the prices end up
(21:39):
going down for everything. And at the same time, we're
stimulating the American economy and at the same time we're
kind of harming China's economy in a way that they
have to come to the table and negotiate with us too.
That all sounds like a positive for us.
Speaker 5 (21:51):
Well, the other thing is, you know, Brian, you know,
he gets his interpretation of a reciprocal tariff from something
he reads, and what he needs to do is aren't
observing and what Trump means by a reciprocal tariff, Well,
this country is going to do this. We're going to
throw it right back at him until we can both
reduce this down to something manageable, because I firmly believe
(22:12):
Trump does not want to have terriffs. He wants to
have free trade. Yeah, he just doesn't want the country
to be taken advantage of. And you know, these anti
Trump people they're just so they're so blinded by their
CDEs that they just don't see it. And I mean,
the man hasn't even been in office for what three months?
Speaker 1 (22:32):
Yeah, no, two and a half, Yeah, two and a half.
We got a long way to go. Yeah, Hey, Tom,
appreciate the call. Thanks for listening to us Doug on
a phone line. Let's squeeze Doug in here before I
hit a break. Doug, thanks for holding what's on your
mind today?
Speaker 5 (22:43):
Thank you much, very Amory.
Speaker 8 (22:45):
You know, I think it's fassing what Trump really owes
allegiance to and somebody glad to he was the legacy media.
They're the ones that went crazy, you know, the writers,
the CNN and all those people do nettie about what's
going to happen to the country, how we're gonna fail
economically and everything else, because what's gonna happ with with tariffs?
Trump played them all like fools, like they always are.
(23:05):
They're predictable idiots, and frankly, I didn't realize you would
probably go back this quick lunch truth. You know, I
can see why he did. There's no reason to keep going.
Once you get the people on the table and they negotiate,
then you can achieve better outcomes for free trade. I
had a Trump wants trade tariffs, you know, to go
on forever, but some kinship will necessary to get them
(23:25):
to comply, and we'll do it. Yeah with China, it's
absolute necessary.
Speaker 1 (23:28):
Yeah, Well, I got some interesting audio. I'm going to
play from Kevin O'Leary, the guy from Shark Tank, mister Wonderful,
and he he was on CNN last night and I
thought he nailed China really well and explained the whole
thing from a good perspective. And I'm going to share
that audio. Like you said, Doug, I think it needed
to happen. I do appreciate the call today, and if
(23:49):
you want to call, we'll talk to you too. Bottom
of the next hour are going to be completely changing
things up, so I got a little bit more time
to chat about this. If you want four O two
five five eight eleven ten is the number, or you
can email me at kfab dot com. More on the
way on news Radio eleven ten Kfab em Marie Sunger, Terrence.
His name's Terrence, Thomas, Kevin O'Leary.
Speaker 2 (24:09):
What's he do with all those names? I don't know,
but here's Thomas, Kevin O'Leary.
Speaker 1 (24:13):
He went with Kevin and most people just know him
as mister Wonderful because of you know, Shark Tank and
all that stuff. But here's uh. I have some audio.
He was on CNN yesterday and what he was doing
on CNN was being questioned about tariffs, and this is
when we were still under one hundred and four percent
tariffs and acted against Charita is about to happen yesterday,
(24:34):
and here's what he had to say about it, because
I think it's pretty important from a real big business perspective.
And there will be some interjections from another CNN host
in the middle of it, but take a listen.
Speaker 9 (24:44):
One hundred and four percent tariffs in China are not enough.
I'm advocating four hundred percent. I do business to China.
They don't play by the rules. They've been in the
WHO for decades. They have never abided by any of
the rules they agreed to when they came in for decades.
They cheat, they steal, they steal ip I can't litigate
in their courts. They take product, technology, they steal it,
(25:06):
they manufacture it.
Speaker 2 (25:07):
And sell it back.
Speaker 9 (25:08):
Here never has an administrator and four or I want
chie on an airplane to Washington to level the playing field.
It says not about tariffs anymore. Nobody has taken on
China yet, not the Europeans, no administration for decades. As
someone who actually does business there, I've had enough. I
(25:30):
speak for millions of Americans who have ip that have
been stolen by the Chinese. I have nothing against the
Chinese people. They've brought great literacy, art, and tech to
the world. The government cheats and steals, and finally, an administration.
You may not like Trump, you may not like his
(25:50):
style or his rhetoric. Finally an administration that puts up
and says enough four hundred percent tariffs Tomorrow morning, he'll
tell you why. She can only stay the supreme leader
if people are employed, if we wipe out any business there,
Because we are still thirty nine percent of all consumables
(26:13):
on Earth and twenty five percent of the world's GDP,
America is the number one economy on Earth.
Speaker 1 (26:18):
With all the cards.
Speaker 9 (26:19):
We will not have that forever. It's time to squeeze
Chinese heads into the wall.
Speaker 1 (26:24):
Now, well, hold on, Terriff.
Speaker 6 (26:26):
I hear you, But hold on.
Speaker 10 (26:28):
If we're talking about people, the average consumer, not necessarily
the head honchos of businesses all across the globe. Can
they withstand the pressure of that sort of tax.
Speaker 1 (26:40):
On the goods lived?
Speaker 6 (26:41):
There will be?
Speaker 10 (26:42):
But yeah, but what's your timeline, comparent. You don't know
the average Americans timeline, what they can actually survive.
Speaker 6 (26:47):
There's people right now who can survive one.
Speaker 9 (26:50):
Percent tomorrow morning cheese on an airplane to Washington to
cut a deal.
Speaker 1 (26:54):
Yeah, it's it's an interesting way to talk about that
four hundred percent tariff on the Chinese happened. And I
think that was the first question that that person asks.
I don't know her name. I think he's thinking, I
don't think that's at all realistic, but you put a
four hundred percent tariff on Chinese goods there. That's one
of those things where it's like, Okay, you don't really
(27:14):
mean to do anything other than like, we know what
you're doing. There's not a lot of subtlety. There's not
gonna be a lot of pain there. That's like going
all in when you have an ace king in the
poker hand. You're going all in and it's such a
big bet that nobody else on the table even wants
to play right. Well, we're doing to them now at
least gives us a little bit of time, like a
window of time to see how they'll react, see if
(27:36):
they will come and want to make a deal with us.
But if they don't, if they decide to play stubborn,
they'll have we'll have a chance to see exactly how
we can operate without them or what other countries reaction
to their situation is. And I like that. I think
it's important to see that when you see that stuff
coming to fruition and you start understanding how it can
(27:56):
affect the market with just one large country like China
and then the entire world, you only have one place
to look for the blame. It's them, and it's their
markets have not recovered. You know, we're getting we're counting
down the minutes here to close. Dude, have you seen
the numbers? Are you looking at these numbers right now?
It's just getting bigger and better on Wall Street and
(28:20):
it will recap the numbers when you come back at
the top of the three o'clock hour here. But it's
mind boggling how much it's gained by just announcing that
all of the other countries essentially including the EU, including Canada,
including Mexico ninety day pause on those tariffs, the Chinese
tariffs have gone up to one hundred and twenty five percent,
and yet we're still seeing one of the biggest rebound
(28:43):
days ever on the stock market. It's absolutely insane the
numbers we're seeing here. So once they close, once we
actually have a final number on that, when the bell hits,
we're gonna give that to you on the other side.
But who what a day, What a day.
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