In this episode I address the latest outrageous charges by this leading Democrat against President Trump. I also discuss the latest Trump proposal to end birthright citizenship. Finally, I address the suspicious disappearance of FBI emails and texts and what they’re really hiding.
News Picks:President Trump is seriously considering ending birthright citizenship.
This brief article sums up the birthright citizenship issues.
More ridiculous Paul Krugman liberal predictions gone wrong.
A NY Times employee is exposed for his anti-Semitic tweets.
A troubling ruling about the electoral college.
Copyright Dan Bongino All Rights Reserved.
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Get ready to hear the truth about America on a show that's not immune to the facts with your host, Dan Bongino.
They're doing it again, folks.
They are doing it again.
Again, waking up every morning as a liberal looking in the mirror must be deeply disturbing knowing your life is a lie.
It's a lie, a fabrication, a Teddy Ruxpin fairy tale, an Aesop's fable, a made-up myth, a Roman Greek mythology.
It's a joke.
Oh boy, it gets old.
Alright, welcome to the Dan Bongino Show.
Producer Joe, how are you today, my friend?
Again with the lies on this thundering Thursday!
Again with the lies!
Hey dude, you're always so dramatic!
He cracks me up.
Really?
Joe is a performer, you can tell, at one point in his life when he was a big-time rock and roller.
We need some pictures of that on the show, by the way.
Oh, you'll love it.
I want a Joe Armacost rock and roll picture, man.
Blonde, curly hair and all.
The audience would go crazy over that.
Yeah, they would love that.
All right, I got a stacked show for you today.
I'm going to open up with a video that's going to disturb you.
A hat tip to Francis Brennan for putting it together.
Proving to you Conclusively, again, that the liberals' new myth, remember it was Russian collusion, then it went on to racism, Trump's a racist, now it's moving on to the fake recession they're trying to create.
Proving you it's a myth.
I also have, yeah, this is good, the three R's, we'll call them, and it's not reading, writing, and arithmetic, right?
I also want to move on to some damning information about what the FBI is up to now that it's going to really blow your mind.
I want to explain to you why they're doing it.
All right, let's get right to it.
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All right, let's go!
Nice!
Man, I just can't get that right.
My coordination's awful.
It's me getting old.
Okay, so story number one.
Let me just play this video.
Again, I told you the three R's.
Keep the three R's in mind.
You'll understand what's going on right now.
The Democrats have completely belly flopped on their fake Russian collusion charge.
Now, as indicated by the New York Times in a leaked memo, The New York Times is now moving on to another hoax, the Trump is a racist hoax, and then they're also going to move on to the other R, the fake recession hoax.
They want a recession, the New York Times and others.
So, to advance this Trump is a racist false narrative, they're going to continue to lie to your face.
Here is a damning piece of video, again, hat tip at Francis Brennan on Twitter, a damning piece of video of Joe Biden laying out a charge A completely false charge, and I want you to watch, it's about a minute and a half, I want you to watch and listen to the video and audio afterwards of the charge being completely rebutted, but no one in the media, of course, will hold Joe Biden to account.
Check this video out.
David Duke, head of the Ku Klux Klan, former head of the Klan, when that group came out of the woods, carrying the fields, carrying those torches, he said, quote, that's why we voted for Donald Trump.
He said he would take the country back.
And the white nationalist, Richard Spencer, he hailed Trump.
He said, this is the white nationalism we've been looking for.
Did you hear him condemn either one of those people?
Ever utter a word of condemnation?
I totally disavow the Klux Klan.
I totally disavow David Duke.
When you say the party is self-destructing, what do you see as the biggest problem
with the Reform Party right now?
Well, you've got David Duke just joined.
A bigot, a racist, a problem.
I mean, this is not exactly the people you want in your party.
So are you prepared right now to make a clear and unequivocal statement renouncing the support of all white supremacists?
Of course I am.
Of course I am.
Do I have to reject?
I've rejected David Duke.
Rejected David Duke.
I've rejected the KKK, the Ku Klux Klan.
About the neo-Nazis and the white nationalists, because they should be condemned totally.
All right.
Change those batteries, Joe.
Yeah.
That was good.
Thank you.
You.
You.
You're good.
You.
You.
I can't stand Robert De Niro, but you.
You.
Did I miss something?
I mean, this is my problem with the media.
Listen, my problem, candidly, is not with Joe Biden.
You may say, what do you mean he's a liar?
Joe Biden's a liar.
He's a liar like every liberal Democrat politician that lies to you about fairytale economics, socialism.
They're just liars.
That's what you expect.
They're power hungry lunatics.
Like Joe Biden.
Uncle Joe.
He's not my uncle.
I didn't have any uncles.
I had uncles that actually worked for a living.
Not like Uncle Joe who's never had a real job outside of politics, okay?
Uncle Joe is a liar.
He's a lying lunatic who's fumbling and bumbling through his campaign Sleepy, low energy Joe.
Lion Joe.
Ukraine Joe.
China Joe.
With all of these connections to these countries and his son and these shady deals.
Corrupt Joe.
Swamp rat Joe.
Lion Joe.
Obama takes a shower Joe.
Remember Joe, that one you were talking about with me before the show?
Obama, he's the first candidate we have who's African-American and clean.
What the heck does that mean?
He takes a shower?
What are you, some kind of a racist?
Let me get this straight, Joe.
That's the first black man you've met that you think is, quote, clean?
His words, not mine.
I could introduce you to quite a few, I promise you.
That's the first black man you've met you think is clean?
How do you interpret that any other way?
Joe Biden is an idiot.
But I'm not mad at Joe for being an idiot, because it's just what I expect.
I know that may sound bad, but you can't be disappointed when your expectations are nil.
Right?
Right!
I mean, I know Joe Armacost and his work product.
If Joe were to send me over a podcast with awful audio, because my expectations are high, I'd be like, Joe, what did you do?
But if I'm working with Joe, Joe's terrible and we have no money, which he's not.
And I have to pay a low budget producer who really doesn't know what they're doing.
And my expectations are low and I get usable but crappy audio.
I'm not disappointed.
That's what I expected.
Yes.
I expected crappy audio from Biden and that's exactly what you get.
Why I'm disappointed why I'm bringing this up is not to just pile on crappy lying Biden, but he's a liar.
He's a liar.
I love the media talk.
Oh, he's engaging in misinformation.
No, he's a liar.
He's a liar.
He knows what he's saying is false.
What I'm mad at is the media.
Yeah.
Because this at Francis Brennan on Twitter probably did a basic Google search.
This video's right there for everyone to see of Trump renouncing the Ku Klux Klan, racism, David Duke.
Anybody can see it.
It's not an altered video.
And they just pretend it doesn't happen.
The New York Times, the Washington Post, we're going to report on every lie Donald Trump tells.
Okay, fine.
What about the lies Biden's told?
Over and over and over.
Folks, it's pathetic.
It is pathetic.
It is so sad to watch what once was, well, not in my lifetime, but maybe prior to my lifetime, what was a semi-reputable field in journalism entirely collapse into conspiracy theory, basically blogging.
That's all this is now.
You're not going to hold Biden to account for saying that yesterday, knowing the evidence is clear that he is absolutely categorically lying and making it up.
Outrageous.
Yeah.
Outrageous.
All right, I could spend all day on this.
Hey, by the way, quick shout out.
A friend of mine asked me to...
Just mention this, and I really want to, because we share some work history in common, let's say.
Our friend Eric Littlejohn, get better, man.
I heard you're a listener to the show.
I know you're struggling right now.
I'm not going to mention what, but it's a medical thing, and God bless you, brother.
We'll be praying for you, folks.
Eric Littlejohn, so friend of a friend.
We share some work history together.
We get your struggles, so I want to make sure I brought that up.
All right, moving on, because this is an important story.
Ladies and gentlemen, again, this SpyGate thing is blowing wide open right now for a number of reasons.
I'm getting a little hot in here, so I'm just blowing my stuff all over the place, but it's, you know, I always need to have the temperature like at 65 degrees.
It's ridiculous.
I just saw that thing that, what is it, they're putting out, sleep under your air conditioner at 82 degrees.
Yeah, okay, sure.
I put it at 68 with the fan on.
Yeah, exactly.
What are you guys, nuts?
So, Tom Fitton put this tweet out yesterday, and I want to explain to you what's going on behind the scenes, why this matters to you, and what the FBI is really hiding.
Christopher Wray, head of the FBI, has been a total disaster since his appointment, right?
So, Tom Fitton from Judicial Watch.
He's at Tom Fitton on Twitter.
Christopher Wray wants the FBI to stall until well after the next presidential election before completing the release of the emails and texts between corrupt FBI officials Peter Stroke and Lisa Page.
26 months?
That's how long they want, after the election.
For 13,000 pages, Donald Trump should order the FBI to comply with law and stop the stonewalling.
Ladies and gentlemen, what's going on here?
Now those texts and the specific time period I'm referring to, they're not necessarily the same batches, but what is the FBI hiding?
What's going on behind the scenes?
I want to hat tip my buddy 279, one of my sources on this, but folks, it's clear now that the time period of December of 2016, up And until the appointment of Bob Mueller in May of 2017.
That time period, ladies and gentlemen, is critical.
Why?
That's the time period that suspiciously We have had a difficult time acquiring the texts and emails of FBI investigator investigating the Trump spy gate thing, Peter Stroke, and his FBI lawyer girlfriend who was involved in this at the management level too, Lisa Page.
We can't get those texts.
The FBI is claiming all kinds of technical problems.
Mueller's team, oh, we don't know what happened to them.
We don't know what happened to that time period.
Why are they hiding those texts?
What do I think they're hiding?
It's becoming clear yesterday in light of these Broussard 302s.
Folks, here's the long and short of it.
I want to put up for you first an Epoch Times piece.
This is an Epoch Times piece by Nick Short.
Spit it out, Dan.
And maybe this will make some sense.
The Epoch Times did John Brennan perjure himself in denying use of the Steele dossier by Nick Short August 8th, 2019.
There's a quote from this that is damning.
Here's John Brennan up on the hill giving some testimony and asked specifically about his use of Steele's information.
And remember, I want you to keep this December to May time period in mind.
Okay.
From the Epoch Times piece, Trey Gowdy asks him, John Brennan, under oath, do you know if the FBI ever relied on the Steele dossier as any part of any court filings, applications, petitions, or pleadings?
Brennan, I have no awareness.
Nick Short goes on, what is even more telling is Brennan's outright denial that the CIA ever relied on the Steele dossier.
And that it was, quote, not in any way used as the basis for the intelligence community assessment that was done.
Gowdy asked Brennan, did the CIA rely on it?
Talking about the dossier.
Mr. Brennan, no.
Folks, here's the problem.
Christopher Steele, who is putting together this information for the FBI and the CIA and the Clinton campaign.
He's being paid by the Clinton campaign to gin up this information.
He's a UK, a former UK spy, who's now in private business.
He's being paid for this.
We know he hates Donald Trump.
We know his motivations are political.
How do we know that?
Because he's already told the FBI his goal is to not get Donald Trump elected.
At some point, he starts piping information into the FBI right around late fall, winter of 2016.
What's the problem with that?
The problem is the information he's piping to the FBI is obviously false.
We've seen it.
He wrote it down in the dossier.
The information is incorrect.
The charges aren't true, ladies and gentlemen.
Now, as we know from John Solomon's article yesterday, he has sources indicating that, and I have sources too, again, hat tip to my guy, that the FBI may have been reciprocating and giving information to Steele too.
Now, ladies and gentlemen, this is a big problem.
Here's what I think is going on.
Here's how I tie it to the December-May time period and John Brennan.
I think, and I write this again in my second book, this is kind of the spy story told in narrative format rather than my first book, Spygate, which is more of a kind of a police file story.
Folks, there's a cabal of people.
former intel people and having talked with my source this morning the best way to explain it is when you leave whatever profession you have in law enforcement or intel you don't really leave ladies and gentlemen in other words like i left the secret service and afterwards there is a A group of people, former Secret Service agents and managers, and they basically run security for some of the biggest firms.
It's not a bad thing, it's just they have expertise and companies hire them.
Banks hire them, celebrities hire them, executives hire them for security and their investigative expertise.
Those group of secret service agents, they talk to each other.
It's not some formal, you know, thing meant to be evil or pernicious.
It just is.
It's a contact network.
They talk through LinkedIn and emails.
The same thing happens in the Intel community.
Follow me here.
And the intel community, when you are working there as an upper level manager, the CIA, the NSA, you keep contacts, foreign contacts, domestic contacts.
These people leave, they do what Steele does, they create their own private businesses where they leverage their formal intel contacts.
And what do they do?
They provide intel then to the business world.
You diggin'?
I'm a CIA guy, I leave, I retire, I'm a former CIA guy, I start Bongino Intel, and then businesses hire me to get intel.
A business is opening a shop in Indonesia, they want some intel on what the environment is like over there, so who are you gonna go to?
You're gonna go to the CIA guy, a former guy who has his own business, who then contacts his former contacts in Indonesia and says, hey, can you give me some stuff?
Folks, Mmm, untoward a little bit, maybe, but it's just the way things work.
How does this relate to what's going on now and why Christopher Wray is hiding these texts and emails?
It's now becoming clear that a cabal of former intel people and active intel people who all know each other, Christopher Steele, former British spy working for Hillary, Richard Dearlove, former head of the British Intel Service, who knows Steele, who vouches for Steele.
Trebnikov, a Russian former spy directly connected to Putin.
There's no former spies in Russia, ironically, but you get the point.
Who teaches a class!
With Halper, who knows Dearlove, who knows Steele.
This is a network of former Intel community people.
Steele, Dearlove, Halper, Trebnikov, who clearly at this point, these charges originate within that small group of Intel people.
Steele becomes the face of those charges.
Those charges are written down in the form of the Steele dossier, which becomes the FISA warrant to spy on Trump.
The question now becomes, what was ground zero for those charges?
Now, I think it's clear that a lot of it comes from Glenn Simpson, who wrote the movie script article in 2007 in the Wall Street Journal, where he talks about some of the same players in the dossier.
So, in other words, although Steele's the public face of the charge, he has to be because he's a verified source with the FBI from working with them before.
He has to be the guy.
I believe the charges do not originate exclusively with Steele.
A lot of them come from Simpson, his Wall Street Journal movie script.
Simpson's wife, who at one point acknowledges on her Facebook page that Simpson is the one who took down Trump.
She says it in a roundabout kind of way.
She deletes the post later.
But, I don't believe it only came from Simpson.
I believe a lot of this information may have originated within that cabal, and that cabal may have been getting some information from our own upper-level intel people.
Think about that.
Think about what I just told you.
Intel used to spy on a presidential campaign, a transition, and an administration is not coming from a verified source, Christopher Steele, as the FBI is swearing to in their FISA warrant.
This all came from Steele.
Some of it, ladies and gentlemen, may have been originating from our own people.
The FBI and intelligence folks.
Now does that epic times, the transcript of John Brennan, him distancing himself from Steele, make a little bit more sense?
Now, I want you to think about something.
I know this is going to be a little confusing today, and I'm going to move on.
I had a lot more to get to, but this is critical because it goes back to, again, how we opened up the segment.
What is the FBI hiding in these emails and texts?
Lisa Page, the FBI lawyer, who's intimately involved in this whole case, she's having an affair with Stroke, the lead investigator, FBI investigator, is up on Capitol Hill and is asked at one point under oath if she's aware that Steele may have been, his information may have made its way to the CIA too.
She says, I would be shocked by that.
Ladies and gentlemen, I don't think she's lying.
Steele and the CIA and this small group of people Brennan knows and is working with, I believe, are engaging in a two-way street.
Steele gives them something, they give Steele something, Steele gives it to Halper, Halper gives it back to Steele, Steele feeds it back to the FBI, it somehow winds up in a document.
What's the document?
The spy on the Trump team.
What's the problem with that?
Ladies and gentlemen, it's never designed to be a two-way street.
The source is supposed to be providing information himself.
Now, how does this relate to the text and the December to May time period?
Because it's clear that the only way to spy on the Trump team is to produce probable cause to go in front of a FISA court that someone on the Trump team, you have to produce two things, is working on behalf of a foreign agent and is doing so in violation with U.S.
law.
You have to produce evidence amounting to probable cause that this is happening.
Ladies and gentlemen, they don't have any evidence.
All they have are the allegations that Steele puts his name on.
Right.
Now, that may have flown in the original FISA in October, where they swear to it and say, okay, we got this information from Steele.
Ladies and gentlemen, they renewed it three times.
Showing you they didn't have anything else.
They go back to Steele after he's fired by the FBI and deemed not suitable for use through Bruce Ohr.
They use Bruce Ohr, a DOJ official, to reconnect to Steele after they fired him.
Why?
Because they have to renew the FISA three more times with new, new, new, new information.
They can't just recycle the old stuff.
What's the problem, Joe?
They don't have any new information!
They've only got Steele and the cabal of intel people that are feeding him stuff and he's feeding it back!
So they tell Orr, go reconnect with Steele!
It's all they have!
Do you understand why the renewals are so devastating?
They already know Steele's information is garbage!
It's already been discredited!
What is the time period Steele, who's been fired by the FBI, what is the time period he reconnects?
During his interviews with Bruce Orr, December of 2016, all the way through May.
Conveniently!
The same time period, the texts and emails of Stroke, the FBI investigator, and Lisa Page have, poof, disappeared.
Ladies and gentlemen, is it just possible that those two are emailing each other about the continued use of an already fired, terminated source?
Laundering his information, Steele that is, through Bruce Ohr?
And that they're openly questioning if this information has any bones on it at all as they're swearing it's true to a court three times?
From December all the way through June of the next year?
Why is Christopher Wray hiding this?
Folks, this was a sophisticated information laundering scheme.
Information is being passed, it seems clear at this point, from either our FBI or intel community, to Steele or people in his small cabal of former intel people that network with each other, Trebnikov, Dearlove, Steele, Halper.
It's then being fed back through the public face of it, Steele, public at least investigatively, the investigators, not public to all of us at the time.
Because he's the only guy who's worked with the FBI to be deemed credible.
He's then fired for leaking to the media, and then because they have nothing else to re-establish probable cause, they bring him back in, in this December to May period, where conveniently, the texts and emails have disappeared.
Folks, this was a parallel construction scheme from the start.
It is transparently obvious at this point.
Paige is confused about Steele being a source for the CIA because she's hearing information from the CIA that mirrors what Steele is saying.
Why is she hearing information from the intelligence agency that mirrors what Steele is saying?
Because it steals information!
She just doesn't know it!
Your neighbor tells you Joe robbed the bank!
Your other neighbor tells you, did you hear Joe robbed the bank?
Another neighbor, did you hear Joe robbed the bank?
You're pretty convinced Joe robbed the bank.
What's the problem?
It all started with a fourth neighbor who hates Joe made up the rumor that Joe robbed the bank and told the three other neighbors.
Yeah.
You get it?
Yeah.
It all originated with this two-way street, this cabal, Steele, the Dear Love folks, Hannigan, these Intel folks, foreign Intel people, who are making all of this up.
Devastating.
Devastating stuff.
And now it explains why Ray is hiding all of this.
I guarantee you, I guarantee you when this becomes public, they're going to find those texts and emails.
I guarantee you, you are going to see exchanges between the lead investigator Stroke and Page, where they are publicly questioning the information Steele's providing through Orr.
Repeatedly saying this can't be true, and they're going into court and swearing it's true.
No doubt in my mind.
Anymore.
Again, hat tip to 279.
Always on the ball.
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Okay.
Moving on.
Joe, is that just so I can kind of tie that up?
Is it a little confusing?
It could be, but I think you did a pretty good job of it.
There's just so much stuff there, you know, it's hard to condense it.
It is.
Just understand that the time period in question, December to May, The FBI and the upper-level men know they have damning information, emails and texts, where the FBI themselves is questioning a source.
That source is Steele and their cabal.
They know this information is garbage as they're swearing to it.
That's the takeaway, hence Tom Fitton's tweet.
And the reason I put that Epoch Times piece up is because I believe Brennan was using that source as well, feeding that information to the FBI and pretending it wasn't coming from the same guy, Steele.
Okay.
So when the FBI hears it for the second time from Brennan, they're like, oh, that sounds legit.
That's why Brennan's running away from it.
Okie dokes.
But it's important you understand that because all this is going to come out soon.
All right, moving on.
I said yesterday I was going to talk about this piece.
I've got a couple.
I've got some crazy video, by the way, of de Blasio.
It's hysterical.
Don't miss it.
It's coming up.
But I wanted to address this in regards to the economy because it feeds into my three R's theory, right?
Russian collusion, the hoax, the media's transitioning seamlessly from hoax to hoax to hoax.
So it was the Russian collusion hoax, then it's the Trump is a racist hoax, and now they're moving on to the recession hoax.
There's no recession.
There may be.
Government spending's out of control.
I hope there isn't.
But there's no recession now.
There's no evidence that there's a recession.
But the media loves to promote a recession because they hate Donald Trump and they want to see a recession, as Bill Maher indicated on his own show.
And they keep pointing to this inverted yield curve.
I wanted to kind of...
Unscrew this yield curve inversion thing to you because it keeps getting cited in the media and it's tough for a lot of people to digest what it means and why the media keeps using it as evidence a recession is near.
Here's this article in the Wall Street Journal that was really well done.
It was from yesterday.
It's in yesterday's show notes.
It's by subscription only but you may be able to get into it.
It's really good.
It's worth your time.
Andy Puzder and John Hartley.
Recession feels are overblown.
The yield curve is no longer a reliable predictor and other economic indicators are strong.
Let's put out the broken media hypothesis first.
They're saying the inverted yield curve, which means interest rates paid on bonds, short-term and long-term, It inverted.
Now, in a normal functioning economy, ladies and gentlemen, just think this through.
The interest you would demand to lend someone money on a long timeline, 10 years, is pretty much always going to be higher than if you're lending them that money overnight or for a few weeks.
Why?
Well, it's simple.
Just think it through.
If you're lending your buddy money for 10 years, there's risk he could go bankrupt.
Yeah.
Right?
God forbid, he could die.
He could get into a medical bankruptcy.
He could just not like you anymore and say, I'm not paying that back.
So people who lend money long term typically demand more compensation from their risk and therefore a higher interest rate, higher payments for them.
Very simple.
Short term, it's not that much.
If I'm lending Joe money for a couple weeks, I know Joe's going to pay.
It's really not that much of a risk.
I'd probably just say, you don't even worry about the interest, Joe.
Just take it.
You know, that's how it works.
So, what happens is, low interest rates for short-term lending, because there's pretty low risk, higher interest rates.
Well, what's happening, and what's happened before pretty much every recession, is that yield, the yield, the interest rate, inverts.
And by inverts, I mean long-term interest rates are lower than short-term ones.
Now, why is that?
Well, there are a lot of theories as to why that happens, but one of the generally accepted ones is people, before a recession, businesses start to see a bad economic environment ahead.
They're uncertain about the economic conditions in the future.
So they see in the future there's not going to be a lot of good investment opportunities and a lot of return on their money.
So they rush into buying stuff, say, 10-year and 5-year bonds, folks, because they just want to lock in basically whatever return they can get.
You get what I'm saying?
Yeah, yeah, yeah.
That's an easy one, yeah.
Long-term becomes a real risk because you think the economy's going to stink.
So you're like, OK, what is it, 1%?
Just give me the 1%.
I just don't want to lose my money.
OK.
So that's what typically happens, and people rush into longer term stuff, they stay away in general from the short term stuff, and because they rush to buy the stuff, the interest rate drops.
Why?
Because there's so much demand for this long term stuff that the people loaning the money say, well I'm not going to give you, if I got 20 buyers for it, why would I give Joe 5%, you know, I'm not going to give him 5% interest, this guy's willing to take only 2.
Simple supply-demand.
The demand for long-term stuff gets high.
People start to supply more.
The yield goes down.
You don't have to pay as much.
That's what's happening.
Now, the yield curve has inverted.
The 1030 and others.
It's back to the non-inverted now.
But Puzder's piece is great.
Because, folks, I believe the yield curve's inverting now.
And I said this on, I think it was Judge Jeanine's show, on Saturday.
I didn't have the time to explain it.
Unfortunately, the clips are short.
You've got to be brief.
But the judge asked me about that, about the yield curve, and I said, I think it's more of a monetary phenomenon right now.
Ladies and gentlemen, here's why the yield curve is inverting now.
I don't believe it's because businesses think there's going to be a recession.
The Treasury Department to fund our outrageous deficits.
Outrageous.
We're looking at a trillion dollar deficit this year alone.
Unbelievable.
I mean, these are Obama year deficits.
I don't care who's in charge.
We're spending too much money.
In a rush, Joe, to fund To fund all this, the Treasury's issuing a whole boatload of short-term, short-term U.S.
government-denominated assets, which people are scooping up.
People are scooping up and they're flooding the market with these things.
It's causing, basically, the yields to rise as the prices go down, because the yields and prices move in the opposite direction, for the reasons I stated before.
So the yields are either stable or rising a little bit because they're flooding the market with these short-term assets.
On the long-term side, people are rushing to buy on long-term U.S.
government assets as well, long-term, because there are negative yields around the world.
The bottom line is it's not a reflection of, I think, business sentiment.
It's more a reflection of the poor rest of the world's economy and negative interest rates there, as Puzder indicates in his piece, and the flooding of the market with these short-term bonds to fund their government, these ridiculous assets.
Bottom line is this.
Don't let the media panic you about a recession.
It may happen.
It may, but the yield curve doesn't mean what it used to.
It's not a reflection necessarily on business sentiment.
I think it's more of a reflection of the flooding of the market and simple supply demand and the lack of investment opportunities around the world right now.
Been dying to get to that, but it's important.
Remember with bonds, prices and yields move in the opposite direction.
You know, if a bunch of people are looking to buy your bond, you're not going to pay them top dollar in interest rates.
If a bunch of people, you're going to pay them as little as you can.
You know?
If people want to borrow my money, I'm not going to give them 5% if I only have to pay them 1%.
That's why they move in the opposite direction.
All right.
Moving on, because there's been so much going on.
I don't want to miss out on the stories.
This has been a Stacked Newsweek.
Trump mentioned yesterday at the White House he's looking at, again, Getting rid of birthright citizenship.
The tenet that if you were born in the United States, you are in fact a citizen.
I think this is a good idea.
Now, liberal myths, of course, liberals wake up in the morning and have to lie to you.
They'll insist to you the 14th Amendment, as we can see here, indicates that this birthright citizenship is in the Constitution.
Ladies and gentlemen, it is not in the Constitution.
Let me read to you the 14th Amendment, Section 1.
All persons born or naturalized in the United States And, and subject to the jurisdiction thereof, are citizens of the United States in the state wherein they reside.
Notice what this doesn't say.
It doesn't say all persons born in the United States are citizens of the United States.
That's not what it says.
Because the liberals and the media are already saying, well Trump would have to change the Constitution.
Now, there is some ambiguity based on some court rulings about what ends subject to the jurisdiction thereof means, to be fair and give you both sides.
But there has never been a Supreme Court ruling saying conclusively, if you are born here, no caveats at all, you are a U.S.
citizen.
That is not what it says.
There are two different kinds of jurisdiction.
This has kind of been a deep show today.
Sorry if it's like a little much, dude.
But it's important.
There's a lot going on.
I know.
I know we're digging into some complicated stuff.
It's good.
But it's really important.
Yeah, we need it.
Liberals will lie to you constantly.
It's up to us to clear the fog and get to the facts.
Liberals want you to believe that.
That line, all persons born here and subject to the jurisdiction thereof, means territorial jurisdiction.
In other words, liberals want you to believe that it is a settled matter that if you are born in our territory, United States territory, you're a citizen.
Folks, there is a strong body of historical texts and documents indicating that when this was written after the, thankfully, the abolition of slavery, that that is not what it was meant to mean.
A lot of constructionists, originalists in the Constitution, and people who have read the historical texts here, believe it means political jurisdiction.
In other words, if you were born to two American citizen parents in France, you are a citizen because you end subject to the jurisdiction.
You are subject to the political jurisdiction of the United States based on your parents being citizens.
Vice versa.
If two foreign diplomats are working in the United States and give birth to a child, they are not U.S.
citizens, they are ambassadors, diplomats, bureaucrats, and subject to the political jurisdiction of another country, that child is not a citizen, even though they were born in the territory.
The distinction is clear.
Now, Again, to be fair and give you the full argument, there would likely be a significant court fight if Trump were to move to pushes.
There's absolutely no doubt.
And the court records and the historical texts are not crystal clear on this.
But that buttresses our argument, not the left's.
The left wants you to believe, so I gotta move on, some other stuff here.
Blasio video, I can't wait for it, so funny.
But the left wants you to believe it's a decided matter.
They are referring to territorial jurisdiction.
If you were born in the United States, you were a citizen.
That has not been decided in the courts, full stop.
It is an open question that Trump is fair and free and fair to entertain.
If they mean political jurisdiction and two citizens of Mexico, Guatemala, Canada or somewhere else come here solely to have a child, in an effort to gain citizenship for that child, and none of those, neither of the parents are subject to the political jurisdiction of the United States based on their citizenship, Then Trump is free and fair to ask the question, is that child in fact a citizen?
Don't believe the liberal hype.
They're making it up that this is a decided issue.
It is not.
Territorial jurisdiction and political jurisdiction has never been conclusively decided.
Don't believe the nonsense.
The media will lie to you endlessly.
It's actually embarrassing what they've been doing, what they're up to.
All right, last sponsor of the day, and I want to get to de Blasio and another, you know, everything liberals touch, they destroy because it's just... Did I?
Oh, no, I didn't, man.
I'm looking at my stories a number today.
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Okay.
So yesterday, you may have seen this.
I usually don't do kind of comic relief stuff on the show because I've only got an hour with you, but this is worth it only because it's so funny.
You may have seen it last night on Tucker and some of the Fox Channel.
So here's the backstory.
Communist mayor of New York, comrade Bill de Blasio.
De Blasio was supposed to fly out to this union get-together gathering to speak to them.
I believe it was out in Iowa.
His flight gets cancelled, I don't know what it was, weather or regardless, but de Blasio of course doesn't want to give up the opportunity to propagandize people, so he says, you know what, I can't make it, but let me talk via the internet.
I don't know if he did a Skype or whatever.
They established a connection with Comrade de Blasio and the speech begins.
So what you're going to hear is this is the guy running the conference who's about to introduce him and I want you to listen very clearly.
Hat tip Joe for cleaning this up.
I want you to listen to what happens to the audio and hapless Comrade de Blasio at his one percent as he's beginning to speak.
Listen to this.
This is hysterical.
Check this out.
Our next Speaker was unable to make his flight, but still wanted to join us through video conferencing.
Our next candidate to speak is the mayor of New York City, Mayor Bill de Blasio.
Thank you.
Hey, thank you, everybody.
I'm so happy with you, and I apologize I couldn't be there in person.
I had a canceled flight and could not get to you by my time slot.
But I want to just say, before I get into anything about why I'm running for president and what we have to do in this country, I want to thank you for the fight you're waging every day.
day.
I didn't discuss it.
I don't want to put you on the spot.
I didn't discuss it with you before the show.
What do you think happened?
Folks, by the way, that's not a joke.
That's really how the audio sounded.
And Paula's like, why isn't anybody laughing?
And I'm like, maybe they were just in shock.
They thought it was a scam, a joke.
What do you think happened?
Did they set the settings on the audio?
I don't know what happened with that.
It could be audio settings.
It could be a compression issue, a codec issue of coding and encoding.
It's something like that.
You hear that kind of noise occasionally in a Skype call.
Can you imagine that?
You're sitting there, and Paula brought up a great point this morning.
She goes, imagine, right, you're de Blasio.
You don't know, right?
Obviously, he doesn't know.
You know, he sounds like someone's got a rubber band on some of his body parts.
Obviously, de Blasio doesn't know this.
So she goes, imagine this, right, de Blasio's trying to talk tough, and imagine trying to sound tough with a voice digitally manipulated like that.
So de Blasio's like, You gotta take the fight!
We're gonna fight!
Like a new Rocky speech!
We're gonna fight!
A Winston Churchill!
We're gonna fight on the beaches!
We're gonna fight on the shore!
We're gonna fight on the sky!
We are gonna fight on land!
On sea!
We're gonna fight!
Fight!
And everybody in the audience is like... Dude!
Burning Man!
Stop talking, please!
Comrade de Blasio!
I mean, he's talking, he doesn't realize that he's in this high-pitched voice and he's just...
I gotta fight!
I gotta fight on!
We will not back up!
And everybody in the audience has to be sitting there like, wait, is this some kind of a joke?
You know, listen, union workers are, whether you're pro or anti-union, I grew up in a union household and I know a lot of union guys.
I mean really tough guys.
Like farm boy strong, tough guys with serious calluses on their hands, dirt under their fingernails.
Again, I know I'm not an anti-union guy, I'm an anti-monopoly guy, I always Celebrate the manual laborers and, you know, the skilled craftsmen in this country that built this country.
You guys and women are great.
They are super tough.
But can you imagine sitting in a room listening to this communist mayor of New York who's never had a real job in his life.
This guy couldn't even, you know, he can't even manufacture ice.
He's so physically incapable of doing anything.
They have to be looking at each other like this is the worst speech ever.
There are people who, I doubt anyone supported him.
He's got zero support.
But if he had 1% in the room, the 1% walked around after that, they were like, now I'm definitely not voting for the Biden.
That's the one speech.
That's it.
He's down from 0.05% to 0.00%.
He now has no support in that room at all.
5% to 0, 0, 0%. He now has no support in that room. How embarrassing. But that was a great
She's like, can you imagine trying to sound tough in your voice?
He doesn't even know.
This guy's campaign, ladies and gentlemen, is doomed.
It's over.
Just let it go, Bill.
I'm going to cover this, I think.
You know, I told you I'm filling in for Hannity on Friday.
I appreciate if you tune in.
But at the end of the Tucker show on Friday, I always do my news explosion.
I'll be doing it right before I fill in for Hannity.
I am going, this has to be included.
So tune in on Friday night too.
This is going to be one of my top three stories of the week.
It may be number one.
Bill de Blasio's just absolutely cursed presidential campaign.
Oh man, what a clown.
Total joker.
Alright, I got one last story, but before I get to that, I bring this up.
Often, quite a bit, on a very serious note.
Segues are always tough from funny stuff to serious stuff, but it's worth mentioning.
I got a Facebook message from a guy, you know who you are, a regular listener, I responded.
I don't get to respond to all the Facebook messages anymore because I just get a lot of them.
I read them though, folks, and I'm sorry for doing that.
I would really love to be more interactive, but the reality is I have to work for a living.
I do read them, I just can't respond to every single one.
But we get a lot of messages out there from I think it's cause I brought it up once on the show from former addicts, people who've had substance abuse issues in the past who are fighting those demons and they're tough.
And with it running in my family, I want you to know that those particular emails mean a lot to me and that those of you out there suffering with substance abuse issues, you know, listen, I'm not your preacher, man.
I'm not trying to be anybody's like a saving grace.
That's not my goal.
I'm just here to tell you that this show, you are always welcome here and your emails and your, your, You sharing your personal experiences with me really matters.
It's in, you know, it's run in my family for a very, very long time.
I don't personally know the experience of it, and I thank the Lord for that every day, but people I love and adore have battled it their entire lives.
And you are always welcome here, always.
You know, you matter, man.
You matter to me, your words matter to me.
It's actually very inspirational hearing that because I know the power these things have over you.
I've seen it, I've seen it collapse lives.
Um, it's, I know you do too, Joe, you know about it and I know you, you know, it's the power it takes over and, and, and, and the willpower it takes every day, you know, to wake up and combat this is strong.
And I deeply, deeply appreciate your emails.
You are always welcome here.
You matter.
You matter to me, you matter to your families, you know, and, and I just hope even if you Have a bad day, you have that relapse that you realize that there's always a tomorrow, and there's always that opportunity to be a better man tomorrow than you were today, or woman.
But you're always welcome here.
So again, just a quick thank you.
I get a lot of those, and I haven't had the opportunity in a while just to express my deep gratitude to people who are suffering with that.
We're all sinners, folks.
Everybody's waging our own battle, whether it's with substance abuse, alcohol, sex, drugs, rock and roll, whatever it may be, we've all got our own vices.
That's yours.
We've all got our own fights.
You're always welcome on this show.
We love you here, man.
You matter.
You matter to me, so thanks a lot.
All right, moving on.
Last story of the day.
Again, we've had a lot during the week I haven't been able to get to because the Spygate stuff is breaking, and forgive me if that was a little convoluted or confusing today, but it's essential you understand what exactly they're hiding.
So that's why I got to that.
This is a story I've been holding for a bit, too.
There's a story in the Wall Street Journal about, again, everything liberals touch, they burn down and destroy.
It's a cancer.
It's a forest fire.
Liberalism can't figure anything out because liberalism is based on the fatal conceit, to quote Hayek.
The idea that government bureaucrats can manage an economy better than people who have skin in the game can.
Which is on its face a very absurd, ridiculous idea.
So, you can't point out to me a situation where the government has managed something and done it better than the private sector.
Matter of fact, it's fascinating because when you talk to liberals, Liberals will cite these examples of government successes, and even the examples they cite are failures in disguise.
I'll give you just a quick example.
You're going to hear this a lot.
I'm trying to prepare you for debating in this 2020 cycle.
Because, you know, a lot of you work for a living.
This is what I do.
I get to read all day and put this together.
You know, a lot of you don't get to do it.
You're out getting dirt under your fingernails working for a living.
So my goal is to get you prepared in snippets.
Liberals will say to you, well, you know, the government can do a lot of things better.
I mean, look, you know, DARPA, they invented the internet.
That was a defense project funded by the government.
They'll say things like the government, you know, they were an integral part of inventing fracking.
Well, I was listening to one of my favorite podcasts, Econ Talk by Russ Roberts.
It's a once a weeker, comes out on Monday.
It's an hour long.
It's pretty wonky, but Russ is a really brilliant guy.
He doesn't share a lot of my political views, but he's brilliant.
And he had an interesting guy on last week.
Liberals use that example all the time.
Look, the government is, they're better at investing.
Look at the internet.
Thanks to DARPA.
DARPA did that.
Well Russ said this guy on this weekend, he's like, that's actually totally not true.
There's a guy at DARPA who worked at DARPA.
I believe his name was Bob Taylor.
And this guy, Bob Taylor, actually left DARPA and went to work at, you know, outside of the government.
And to this, you know, to this day, you can look at his writings where he says, the government, DARPA didn't invent the internet.
The DARPA funded thing was a project between like colleges and universities where they could talk to each other.
The idea that the internet would connect the world instantly through websites and email, that was not DARPA's idea.
That was outside.
The private sector did that.
My whole point is this is that and the fracking thing the government oh they invented fracking no they actually didn't they had one research study about some uh what's this guy george mitchell or someone puts a about foam in the ground or something like that and the fracking industry used the study but it wasn't like the genesis of fracking and the whole point of the thing is when government gets involved in an industry what they do is they take money from the private sector that probably would have invented the product faster and better Now, from the Wall Street Journal piece, the government took over the student loan industry.
We were told, well, when they take over student loans, this is going to be just terrific and peachy.
The government's going to make a lot of money.
Well, James Freeman in Wall Street Journal today writes, Elizabeth Warren's crisis has arrived.
She claimed taxpayers would profit from the scam that helped make her rich.
She's talking about the whole student loan industry and the universities.
From the piece, where they actually cite another piece I read in the Wall Street Journal the day before, ladies and gentlemen, we were told when the government took over the student loan industry, we were going to make oodles of money.
Well...
Warren made headlines recently by predicting an economic crisis, but the crisis has already arrived for taxpayers, I'm quoting the piece, and her fingerprints are all over it.
The journal explains, listen to this, folks.
Since the government's taken over the student loan industry, 10% of the $1.5 trillion federal student loan portfolio is 30 days or more past due.
Another 20% is in deferment or forbearance.
And about 30% is in income-based repayment plans that allow most borrowers to cap monthly payments at 10% of discretionary income and discharge the remaining balance after 20 years or 10 years for folks in quote, public service.
What does this mean to you, ladies and gentlemen?
That means the cost to taxpayers is estimated by professionals looking at this, the cost to you to pay for other people's college that was supposed to make the government oodles of money because they're so good at dictating loan terms and determining creditworthiness and not subjecting the loans to political influence.
We've got to make more loans to these people and those people.
You are about to lose over 10 years, 306.
Billion with a B dollars.
Failures in disguise.
Yeah!
Transformers.
Once in a blue moon.
I'll actually pick one of those up.
You're about to lose a third of a trillion dollars paying for other people's college because the government couldn't determine the credit risk of these people and had to succumb later to a political thing.
Well, if you go in public service, we'll dismiss a lot of that.
The government doesn't have the knowledge to do all this.
The fatal conceit.
Hayek's idea.
The government thinks it's smart enough to manage this stuff.
If it was, it'd be in the private sector.
It wouldn't be in the government.
There are people who have skin in the game in banks who make these loans to students based on their ability to repay in the future.
The government doesn't do any of that.
They take into account political considerations and therefore we're losing a fortune.
There you go.
Yes, sir.
They can't get anything right.
My gosh, free college!
It's already free!
It's already costing us $300 billion and it's not even free yet!
Wait till it's free!
Then you're really gonna see the price go up!
All right, folks, thanks again for tuning in.
I really appreciate it.
Again, I know today's show is a little complicated, but once in a while we got to do deep dives into these topics so it makes sense when we get into, you know, the election issues and you'll have some kind of base so we can argue and debate with our liberal friends.
It matters.
Remember, you're never arguing with the liberal.
They're unconvincible.
You're arguing with the liberal so that the third person listening, who is somewhat impressionable, understands we're on the right side of this.
All right, thanks again for tuning in.
Please subscribe to my YouTube channel, youtube.com slash Bongino.
Also subscribe to our audio podcast on Google Podcasts, Apple Podcasts, SoundCloud as well.
The subscriptions help us move up the charts.
We really appreciate it.
Thanks a lot, folks.
I'll see you all tomorrow.
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