PBD Podcast Episode 245. In this episode, Patrick Bet-David is joined by Adam Sosnick, Tom Ellsworth and Vincent Oshana. Try our sponsor Aura for 14 days free - https://aura.com/pbd to see how many times your personal information was found on the dark web today.
0:00 - Start
5:04 - Reaction To Jerome Powell Increasing The Rates To New Highs
24:12 - Patrick Bet-David BLASTS 4 Day Work Week Argument
51:28 - "It's a Ridiculous Number!" - Why Jamie Daimon and Major Tech Companies Are Moving To Florida
56:16 - Reaction To Ron DeSantis new book
1:03:50 - Will Michelle Obama run for president in 2024?
1:17:13 - Apple plans to invest $700 million in India
1:22:52 - Reaction to Walmart closing stores In Large U.S Cities
1:25:04 - Reaction to sky-rocket car prices
1:33:38 - Reaction to Tucker Carlson leaking January 6 footage
2:00:22 - Reaction to JJ Redick slamming Kendrick Perkins
FaceTime or Ask Patrick any questions on https://minnect.com/
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Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal bestseller Your Next Five Moves (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.
Why would you bet on Joliet when we got bet Jesus?
Value payment, giving values contagious.
This world of entrepreneurs, we get no value to haters.
How they run, homie, look what I become.
I'm the one.
Okay, we are on home team today.
Sauce, Vinny, we got Tom in the house, BizDoc, as well as Rob, aka in the house as well.
Okay, home team.
A lot of topics.
We haven't had a chance to talk issues all week long.
Your suit looks amazing, but the pants look sharper.
Thank you.
The pants.
Sharp.
They're not pants that were painted on.
You're not wearing anything under the table.
The zipper is weird.
I go, that's not a zipper.
Very, very impressive.
This will be the first time any of our experts have done a podcast.
This is a good thing about camera angles is Vinny's actually wearing briefs right now.
And today's podcast is sponsored by, I think, who was it?
Yes, it's Haines or who are you going to do?
I love Haines.
I can't.
Haynes from Costco.
Costco Haines or which Haines?
The big, the packing brand.
I'm still wearing brand new ones.
Gentlemen, Calvin Klein.
We got a lot to talk about.
Here's what happened.
By the way, this man, every time this guy gets on TV, he scares the crap out of people.
Jerome Powell gets out there and there's a video of himself and Senator Kennedy going back and forth.
We'll talk about it.
Wall Street Journal, Fed Explorer, faster rate increases.
Boom.
What happens?
Dow, NASDAQ down 1.5%.
You got S ⁇ Ps down 1.5%.
You got everybody down 1.5% pretty much yesterday after this announcement was made.
I don't know if you heard what FTC is doing.
They have demanded the Twitter turnover internal communication related to Owner Musk as well as detailed information about layoffs, documents viewed by the Wall Street Journal.
I wonder why the FTC is now investigating Elon Musk.
There's a guy that said this year is going to be called the year of investigation.
There's more investigations going on.
U.S.-China having more problems.
We'll talk about that.
Tucker, January 6th.
I think what is trending right now on Twitter, if I'm not mistaken, what is trending on Twitter right now is Tucker Carlson is a liar.
We'll talk about whether the folks getting that hashtag to be trending are right or wrong.
Five takeaways, New York Times from Ron DeSantis' book.
You got Vivek Ramaswani, who was just on the podcast six or seven weeks ago, rips Trump, vows to banish FBI and 10 Fed agencies.
That'd be an interesting talk about.
AOCN Kevin O'Leary went at it.
I think Kevin O'Leary, I mean, he had some, whether you like what happened with FTX or not, his thoughts on what AOC has done, calling her the top job killer in America was powerful.
There's some things Jamie Dimon said.
I don't know if you saw what Jamie Dimon said about a couple different states in America.
They may want to pay attention to that.
He's a big fan of where they're investing.
Couple states.
It's very important to know.
TikTok is limiting teens to 60 minutes of screen time a day, but, and there's a big but.
Oh, yeah, there is.
Twitter revenue took a big kid.
iPhones are making a plant in Indiana, $700 million.
We'll talk about that.
Financial Times had an article.
Who to fire?
How the biggest companies plan mass layoffs.
We'll definitely talk about Powell.
We'll talk about car debt pals up as more Americans struggle to make payments.
Hannity gives interview to Ron DeSantis before Trump and Half of America lost their minds.
How could you do that?
A bill is being pitched on four-day work week, which is being reintroduced in the House as IDEA gains speed.
By the way, I did some digging on this one.
It'd be interesting to see if you can guess what country, without Googling this, what country works the least amount of hours per week and what that number is.
We'll talk about that.
Manchin had some things to say to Biden.
You can't just tax your way out of debt.
We got some rules on China investments.
An ex-NBC doctor gets no jail time after asking a girl, nine-year-old, for nudes.
Pretty well.
Pretty wild.
When you hear these stories.
Okay.
So let's go into the first story, which is people want to know what is going on.
Just two days ago, Wall Street Journal said the fact that mortgage applications in the month of February were the lowest in 28 years.
A lot of people were concerned.
30-year fix was at 6.65 if your credit is flawless.
A lot of people are paying 7.5 points right now.
Had a call yesterday with a guy that runs a mortgage company out of LA with 100 loan officers.
He says February was his worst month in his career in loans and selling real estate across the board for all of his guys.
And we talked about a little bit on what message I give him.
But Tom, I'm going to go on to page eight story.
Fed share opens door to faster rate moves and a higher peak.
Okay, a higher peak.
So Powell's comments were that the clearest acknowledgement yet that the recent reports showing inflation remains stubborn and that the job market remains resilient are likely to shake Sean inflation up the policy trajectory for American central banks.
Powell suggested that the peak rate projection of five to five and a quarter for interest rates would need to be adjusted by more than that without specifying how much more.
Tom, how bad is this going to get?
We said it was happening and it's here.
Right now, just for everybody's reference, the federal rate is 475, 4.5.
It's in a quarter point span, the way they do it.
And what that means, that's what banks borrow the money from.
And then they turn that into car loans, mortgages, and things like that.
At the beginning of the year, Pat, people thought that the rate increases were going to stop probably around May or June and then start getting some reductions.
Yep.
So that car loans would be more affordable as we hit back to school.
Mortgages may be more affordable fourth quarter, third quarter.
That's what people thought that this first half of Tale of Two Cities.
First half of 23, kind of tough.
Second half of 23, things getting better.
A little bit of sunshine.
Well, economic data came out and it looks bad.
It looks like inflation is really hot and not being tamed.
In the last podcast, we talked about Larry Summers said, hey, the Fed's really behind the curve here.
They got to make a move.
And guess what?
Jerome Powell yesterday said we're going to be raising rates.
He won't say how much, but everybody is basically, and the market has reacted, everybody saw the market down, that it's going to be a half a point in about a week on March 22nd.
What they're worried about is that it'll also be a half a point on May 3rd, and then a quarter point in June, a quarter point in July.
So that is a point and a half that would take it not to the 5.5.
Remember, everybody's looking at 5.5?
Yeah.
But all the way to six, maybe 6 and a quarter.
And so with those rates up, mortgages just hit a wall.
We covered on the last podcast, a 28-year low in the number of mortgages per week.
28 years.
That's phenomenal.
And so it basically translates to car loan percentages, interest rates are not going down anytime soon, probably not until the fourth quarter, the way this is looking.
I want to show you this.
I want to show you this.
If you can play this clip with Jerome Powell yesterday, him and Senator Kennedy going back and forth.
And what's important about this is three minutes and 45 seconds.
I asked Elon if he can speed up the stuff on Twitter.
I don't think they have it yet to do the playback speed.
I think you just have to play it at the speed that they have.
But everybody has to watch this exchange.
Watch this.
Typically, when you see these things, what do you think about?
The guy's not going to admit to anything.
He's going to play bullshit.
He's going to play dumb.
He's going to play this.
Watch what Powell does.
He doesn't stonewall it.
He just tells you, yep, that's what's going to happen.
That's what's going to happen.
There is zero fluffla answers here.
He straight up gives it to you.
Play the clip.
Watch this.
Anti-fluff.
You're raising interest rates.
You're raising interest rates to slow the economy, are you not?
Yes, to cool the economy off.
And one of the ways you measure your success other than fluctuation in gross domestic product is the unemployment rate.
Is it not?
Yes, one of the measures.
Okay.
So in effect, I'm not being critical.
When you're slowing the economy, you're trying to put people out of work.
That's your job, is it not?
Not really.
We're trying to restore price stability.
No, you're trying to raise wages.
You're trying to raise the unemployment rate.
I know you don't like the phrase, so let me strike it.
You're trying to raise the unemployment rate, are you not?
No, we're not trying to raise it.
We're trying to realign supply and demand, which could happen through a bunch of channels, like, for example, just job openings.
Let me put it another way, okay?
The economists did a wonderful study.
They looked at 10 disinflationary periods in America going all the way back to the 1950s.
Disinflation is what you're trying to do.
It's a slowing in the rate of inflation.
Am I right?
Yes.
In other words, prices don't go down.
They just don't go up as fast.
Deflation is when prices actually go down.
You're trying to achieve disinflation, are you not?
Yes, we are.
Okay.
Based on history, in the 10 times that we got inflation down, disinflation since the 1950s, in order to reduce inflation by 2%, unemployment had to go up 3.6%.
Now, that's history, is it not?
I don't have the numbers in front of me, but yes, the standard has been that there have been recessions and downturns when the Fed has tried to stop.
Why do you have some plans?
Right now, the current inflation rate is 6.4% and the current unemployment rate is 3.4%.
Now, if history is right, I'm not asking you to, again, blame anybody, but if history is right, unless you get some help in order to get inflation down from 6.4% to, let's say, 4.4%, the unemployment rate is going to have to rise to 7% based on history.
That's what the record would say.
Okay.
And to get inflation down to 2.2%.
Watch this.
Based on history.
Here we go.
An immutable fact.
Watch.
Unemployment would have to go to 10.6%.
Would it not?
No.
I wouldn't.
That's what the record shows.
That's what the history shows.
I don't think that kind of a number is at all in place.
I mean, I know you're reluctant to admit it, and you don't want to get in the middle of a policy dispute.
But I think it's undeniable, it's undeniable, that the only way we're going to get this sticky inflation down is to attack it on the monetary side, which you're doing, and on the fiscal side, which means Congress has got to reduce the rate of growth of spending and reduce the rate of growth of debt accumulation.
Yes, we do.
I get that.
You don't want to get in the middle of that fight.
But the more we help on the fiscal side, the fewer people you're going to have to put out of work.
Isn't that a fact?
Please answer.
Could work out that way.
Could work out that way.
It could work out that way.
Yes, sir.
Thank you.
Senator Reed of Robinson.
Pause this.
Watch this.
Zero hiding anything.
Now, here's the thing.
Kennedy is a what?
He's a Republican, right?
From Louisiana.
Jerome Powell was assigned by who?
Trump.
Trump.
And he's still here by who?
Biden.
So he is both.
Unbiased, but he knows.
I think he's disliked by both sides.
Okay.
Let me tell you.
You're saying disliked or disliked?
Disliked.
L-I-I-S-L-I-K-E-D.
He's disliked by both sides.
And let me tell you, this is going to sound weird.
He's exactly where he needs to be.
Okay.
Here's my opinion.
Yes, you have to not be spending more money and forcing Congress to not have a bigger budget.
Yes.
Yes, we have to do it.
Yes.
You have to kind of go through this.
What do you want to do?
Delay the time bomb even more and more and more for other people?
What else do you need to do with this?
We're going to go through a season that's going to suck.
I'm talking to this guy yesterday.
First question I asked, how much money you got saved?
He says, we're good.
Okay, good.
Because, you know, one of our MOs is, you got to always have your cash in place so you don't have to make desperate decisions.
I said, just so you know, how long do you think this is going to last?
I'm asking this guy who's in the real estate business.
Him and his wife are on.
He says, Pat, we're not counting 23 as a year where anything's going to go our way.
I say that's good because that's probably what's going to end up happening to the real estate and a mortgage.
They're bracing for the storm, right?
They are.
And by the way, there are some great crusaders who are in the real estate and the mortgage side that have convinced everybody everything's going to be fine.
This season is coming.
And when unemployment, remember when he asked the question, what should I do?
What number should he?
And I said, we looked at unemployment by states.
And remember, Nevada was at 5%.
Like, wow, look at Nevada.
And it's like, no, they went from 23% to 5%.
Okay.
If this thing goes the way it's going, unemployment hits 5, 6, 7.
He's saying 10 point something percent.
Listen, when is the last time unemployment hit 10% outside of COVID?
Outside of COVID.
Don't count COVID.
Outside of COVID.
Pat, that's 10%.
Do you think the nice man is in hospice care in Plains, Georgia?
Well, it's Jimmy Carter.
Before I was even born, before the late 70s?
I think it's 79, 80.
When is the last time?
If you just go to history of unemployment rate, that's all you got to do.
History of.
Certainly not in my lifetime.
History of unemployment rate.
They go 1982, 10.1.
The last time I hit double digits was 1982, 10.1.
And by the way, do you know the month that Joe Biden became president?
I think that month or the following month, I did a video comparing him to Jimmy Carter.
Those two guys have all, we have a case study of this.
It's called Jimmy Carter, and we're there.
Yeah.
Yeah, I mean, obviously, if it gets that extreme.
Right.
That's what you're saying.
If it gets to 10%.
Okay.
So if you don't do that, then what is the alternative?
Imagine if Powell doesn't do it.
So let's say Powell doesn't do what he's doing right now.
What happens?
The economy overheats.
Inflation runs amok.
You know, pricing is out of control.
I think Jerome Powell is.
Exactly right.
Yeah.
Jerome Powell is doing what he's got to do.
I agree.
And by the way, you know what I like about the way he took his position?
He came, you know what he looked like?
He looked like, listen, guys, I don't give a shit what you ask me.
We're raising the rates.
Thank you.
That's what he looked like.
Left, right, middle, we're raising the rates.
What do you like?
Yeah, it's almost like that.
I think what is, it's funny because Senator John Kennedy from Louisiana seems like a character of a guy.
I just don't know what the hell he's talking about, but he actually, in essence, did know.
He just doesn't sound like it.
Yeah.
But so he's a credible dude.
He's been around forever.
He's a crazy senator.
If you get past his accent, that's my point.
That's what I'm saying.
You can't get past the accent.
But he was a former treasurer of Louisiana, senator, attorney, lawyer.
He just happens to sound like he's a wild bill.
But what, what, what, what?
No 70 cents.
Bang, bang.
Yeah, bang, bang.
What we also know is that.
Oh, I don't know what just happened.
No, it'd be, it's the equivalent of a guy trying to come up to BizDoc who's been around the block a little bit, but not nowhere near BizDoc's level.
And BizDoc's just like, okay, I'm hearing a pitch for the billionth time about raising capital.
But how many conversations do you think?
Jerome Powell is an economist extraordinaire.
This guy's a senator who kind of knows a little bit.
I appreciate the questions, but Jerome Powell is a beast, and I think he's doing a great job.
And I think temper for that guy.
Even Tammerman, he's almost like that guy in Goodfellow's been like, oh, you can't buy it.
By the way, what's his birthday real quick, Jerome Powell?
This is random.
February 32nd.
No, no, no.
You guys are.
Have you nailed that?
I'm buying a lot of stuff.
February 4th.
Oh, I. That's also my birthday.
So I'm going to think about that.
32nd.
32nd.
There you are.
But if you could give a grade to Jerome Powell, not a household name, at this juncture in the economy right now, what grade would you give him today?
I give him a solid A, not an A minus, not an A plus, just a solid A.
Yeah, I think he's got a hard job, bro.
You know what's the hardest job?
Here's the hardest job.
So think about it this way.
The hardest job is when you're about to make a decision and your mom and dad have never, ever agreed on anything in their lives and they're divorced.
So whatever your dad agrees on, your mom disagrees.
Whatever your mom thinks is a good idea, your dad disagrees.
Such a great analogy.
You go to your mom and you say, hey, mom, here's what I'm thinking about.
I'm thinking about lowering interest rates.
What do you think?
Terrible idea.
Did dad tell you to do that?
Oh, it's a terrible idea.
Terrible idea.
Did your father know you came up here?
It's the first time ever in 50 years your parents have disagreed on the same thing and you're confused and you still think you're making the right decision.
That's Jerome Powell.
So he's in a rough place, but listen.
But between unemployment and everything, you know, the bottom line here, and let's bring it home so everybody can understand this.
The economy is in a pickle.
You got unemployment and you got the interest rates.
I mean, the graphics are 200%.
No, we're in a pickle.
So basically, you guys know all the questions I always ask.
So I have to wait till 2024 to think about buying unless there's a shift in listings in South Florida, right?
Pretty much.
Do you have any graphs to back up this pickle?
No, but you went through the numbers.
So is there like a chart that I could see to understand?
Like, I understand the cheerleader being the economy and Jerome Powell's headed upstairs again next week.
That's your thing right.
But do you have a chart?
Do you have something to...
Actually, Vinny, I think we might.
Yeah.
Okay. Okay.
Rob, do you have the interest rate chart?
That's very interesting.
Look at that.
You have the interest rate chart.
Let's take a look at this.
This is called a pickle chart.
I wonder why.
So on the left hand side.
Please explain what's going on with each other.
So on January 1st, the consensus estimates of economic people was the pickle on the left.
See, thinking that it was going to get up to about 5.4, start to lose a little steam, and then second half of the year is going to be looking a little bit better.
The revised estimates that we're hearing now because the economy is still overheated is the pickle on the right.
And unfortunately, that is a much more formidable pickle than the American economy was expecting.
Got it.
Yep.
And that's it.
And so the portrait is heading for a half a percent romp next week on March 22nd.
Another half point fling probably.
What is the national average of a pickle interest rate, size?
I don't know if that's where you're going with this.
I'm still sitting here waiting to see what's going on.
So Vinny, go ahead, Gennie.
What are you going to do?
So because I took notes, so a couple quarter-point quickies in June and July, and then the interest rates will start deflating or that's right.
And that's when we'll see Powell, you know, we'll see what he needs to see.
And he kind of runs out of steam in September.
We definitely don't want the economy to run out of steam in the middle of the day.
Let me stay the cheerleader because I really want to buy a townhouse or a house.
For the audience, on behalf of the crew, we'd like to apologize for you happen to see a couple pickles here.
Just so you guys know, this is nothing.
It's a pickle.
It's just a chart.
It's a chicken.
By the way, I just had a hamburger today that Alpermate, and there were pickles in it.
It was great.
You don't like pickles?
I loved it.
It was great.
I took the onions out because there's a few things.
Onions, cigarettes, certain things you shouldn't do in life.
Or around you, though.
It's just, you just, there's a certain smell.
You touch your hands.
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10 times more than usual.
This is going to be happening.
That's a good point.
Okay, so, you know, next thing, if we want to get into this four-day workweek conversation that they're starting to have, a four-day workweek bill is being reintroduced in the house as idea gains speed.
Okay, let's see if this is a good idea or a bad idea.
By the way, the other day, Tom, I did a survey.
Okay, I did a survey, which, by the way, Kai and I are sitting there and we're debating what we believe the results of the survey are going to be.
Before I get into this article, let me read you what the survey was.
The survey was the four-day workweek, okay?
Four-day workweek.
Is it a good idea?
Is it a bad idea?
Or you don't care?
25,000 people voted for this.
Did you see this or no, Tom?
The poll?
Was this on Twitter?
I've not seen the poll yet.
Okay, so 25,000 people voted for this on Twitter.
The four-day workweek.
What would you say?
I think you just saw it, so I don't want to say that.
I didn't.
I actually didn't see it.
Which one do you think people voted for the most?
From the least to the highest?
Don't show it yet, Rod.
I've just texted it to you.
Let me ask the question again.
What are your thoughts on four-day work weeks?
Don't care.
Bad idea, good idea.
What got the most votes?
What got the least votes, Tom?
I would assume if we're talking 410, so I work 10 hours, four days, there's my 40 hours.
I would assume good idea probably gets the most, and people would want like a three-day weekend.
So you're saying most people voted for Good Idea.
What do you say?
I'm the same as if I think people just write up the rip knowing that they're going to have Friday off as well.
I say they're going to say that's the most one.
So it's good idea, bad idea, and don't care.
And don't care.
Oh, everybody cares, I'm assuming.
Okay.
Yeah.
I agree.
People want this.
Okay.
So watch this.
If you want to pull up the poll, this is what the poll results were.
Good idea.
55% said it's a good idea.
Half.
55%.
So let me read this entire article.
I got some thoughts on this, and I want to hear yours.
I can't believe that there's 25% almost that don't care to your fucking life here, buddy.
I don't know.
Shut up five days, seven days a week.
Democratic Democratic.
Whatever.
I don't give a shit.
Democratic Representative Mark Takano from California plans to reintroduce a bill that will shorten the standard work week.
Tom, it's not what you said.
It's not for 10-hour workdays.
It's going from 40 hours to 32 hours a week.
Okay.
Several bits of it.
I'm going to let you finish.
The proposal would improve the quality of life workers, meeting the demand for more truncated work week that allows room to live, pay, play, enjoy life more outside of work.
Takano bill has been endorsed by major labor unions like AFL, CIO, Union Food, and Commercial Workers and Service Employees International Union, as well as the Congressional Progressive Caucus, is made up of 100 members of Congress.
The proposal has historical precedent with labor unions successfully pressuring lawmakers to shorten the work to eight hours of four days a week instead of five.
Go ahead, Tom.
I'll go to your first.
Can you read the last sentence of that paragraph in the middle there?
That's important, Pat.
Hours worked past that period, unless otherwise specified, would be subject to higher compensation.
There we go.
Okay, so tell us about it, Tom.
This Takano, the Democrat from California, he is trying to move the overtime line.
And he's doing it on a populist thing about a four-day work week.
Well, look, let me talk about two things.
In California, 410s, it's called, is very common in the entertainment industry.
Editors do it in Southern California.
Those motion picture companies still having editors, Southern California.
Universal's got them all in Orlando, Florida.
And so a 410 means you work 10 hours, four days, shooting schedules for entertainment, also very common, 410s.
So that's your 40 hours.
What this guy is doing is saying the standard work week would be 32 hours and hours work past that period subject to higher compensation.
Code word, overtime.
This is giving basically a rate.
He's trying to give a raise to workers by changing, moving the line on the 40-hour workweek.
So there's a lot can be said about a four-day workweek, especially if I commute a long way.
Hey, if I'm commuting a long way away, maybe I want to work 410s.
That's not so bad.
That would be 8 to 7 with a one-hour lunch in there.
You know, maybe you want to do that.
If I'm an editor and I just sit there cranking away or doing something like that, and then I take an extra day on my weekend, but I've worked my 40 hours.
This guy's trying to move a burden onto employers, Pat, and move the overtime line.
Adam, what do you think about it?
I actually have very strong feelings about this.
I think it's almost laughable.
The work-life balance, I got to have a work-life balance.
But this is very important for workers.
Here's my suggestion.
I love like when doctors, nurses, firefighters, where they like work their fucking ass off, and then they get to take like three days off, four days off.
And I think we all know that the average worker just kind of comes, they work, they do their thing, they do their thing, whatever.
I don't know, kind of have a gig.
It's been a while since Pat has even thought about that.
So he always laughs what the average man does these days.
He was once that guy.
But for me, I'm working 24-7.
I'm never like not.
I'm like, don't call me.
I'm not working.
Here's my suggestion, though.
If you're going to work four days a week, I wouldn't go from 40 hours to 32 hours.
I would go from 40 hours to 45 hours.
I would, that word truncated that we were discussing, I would mash in four days of fucking crushing it for your company.
Give someone the option to do that.
I think because the company is going to be open on Friday.
Some companies are open seven days a week.
Give the employee the option of what they want to do.
Hey, you can do your standard five-day, 40-hour week.
If you want to work four days, you're actually going to work more hours, not less.
And let them pick.
I think if the sentiment of this poll is any indicator of what's going on, people actually kind of agree with this.
Let's not live in this.
All right, let's see.
I mean, I have some thoughts, but I want to hear you guys first.
Go ahead.
Well, I'm just saying, for somebody like me, Pat, working at Value Etienne, I have no family here.
You guys are my friends.
I'm coming in Monday through Friday.
Four days.
Get the hell out of here.
People are going to go nuts in those four days.
I like it.
Monday through Friday.
Keep it old school.
Then those people are going to start complaining about those four days.
I'm like, can you believe they made us, Adam made us do 45 hours that tiring work?
And then that shit, that problem.
When you're at work, I work to have an idea.
Can I offer one more thing here?
I got so many thoughts.
You guys know I'm going to.
This isn't the last word.
This is something to add on.
Here we go.
How many time zones in the United States?
Three outside of Hawaii.
Hawaii.
So if you need people and you want to say, hey, we want to cover nine to five in all time zones so that if you need something from us, you can call our home office.
You can get customer service.
Four time zones.
Eastern, central, mountain, Pacific, then Hawaii, five, right?
No, no, no.
The continental U.S. is just three.
You have to cover three hours because it's three hours between here and LA.
Keep going.
Make your point.
And so what you do is you ask people, it says, would you like to work this so that you can cover these hours so we can cover our customers?
And we provided a vision to them.
Hey, we're just trying to cover our customers.
So nine to five in any time zone, they can get a hold of us and we can answer questions and help them.
Okay.
So there's reasons to do it, not this guy.
Can I give my thoughts?
Here's my thoughts.
Let me share some of my thoughts here.
So number one, okay, for this whole concept, we have to, first thing we have to do is we have to define success.
What is success?
Okay, let's define success.
Is success people having more time on their hands to chill out and do nothing?
Is that what success is?
Or is success building companies that creates jobs that the government doesn't have to come and bail people out?
The moment we define success, every single decision is predicated based on the definition of success.
The moment we do that, okay, so if we go with the first one and we say success is giving people more time on their hands, no problem.
Let's investigate that.
When you and I were kids, okay, I have four kids.
You and I were kids.
When we were kids, what's the secret sauce we've always heard parents did to prevent kids from doing stupid shit?
What do parents do?
How do you keep your kids away from making dumb decisions?
You give them activities after school.
Such as what?
Such as reading a book.
You monitor their homework.
Police sports.
They're playing basketball in the driveway with their friends.
You know what they're doing, but they're active.
So let me ask you this.
What happened when you and I as kids had too much time on our hands?
Honestly, what do we do?
I lit fires with magnifying glasses and I burned them.
What do we do if we have, and I'm being very serious with you.
What did we do when we had too much time on our hands?
My brother and I informed you.
I was playing more sports, but for certain kids, they will get into more trouble.
No, no, not for certain kids.
They will get in trouble if you have more time on your hands.
You having more time on your hands, you're going to get in trouble.
You are going to do drugs, alcohol, gangs, porn, more video games.
Stupidity the moment you have more time on your hands.
Fine.
Okay.
So watch this.
A lady who's a liberal from UCLA University goes and does a study to see how much free time produces good things with people.
And you know what number she figured out?
I'll read it to you here because we had to do the research on this based on a project that we're working on.
Here's what she came up with.
This is a lady named Mogilner Holmes.
They did a research and a survey on 21,000 different people, and this is the number they found out.
Okay.
They wanted to find out at what point is your mental health taking a shot?
This study was specifically done when COVID happened.
Everybody's being home.
They're like, we got to figure this part out.
How much free time is good?
How much free time is bad?
Here's what she realized.
People need two hours of free time.
Why?
To be able to go out there and do their you know your chores, pay the bills, go get the haircut, go do the shop and all this other stuff.
If it's less than two hours of free time a day, they have stress and anxiety.
It's not good for them.
So, you got an hour and a half lunch and you got an hour at night, that's two and a half hours.
She said, The moment it went to five hours of free time, stress and anxiety went up.
Why?
Because you started realizing, Am I not valued?
Am I not important?
Can you not use me to do productive things?
People want to be valued if they're not being used to be valued.
They see themselves as I'm worthless.
I don't feel that good.
I become bitter.
I have an attitude.
Now, let's continue a little bit more with this topic here on four-day work week.
Okay, so if we define success of producing companies that did very well, the country in the world that they work the least amount of hours a week.
You know what country it is?
Italy.
It's Netherlands.
You know how many hours a week?
It's number one on the list.
29 hours a week is what they work.
29 hours a week.
So we went through the bottom 10.
Smoking a lot of weed there in Amsterdam.
No question about it.
Again, if we define success as production that the world benefits from your innovation, if that is the definition of success, you are not going to do that a 29-hour at a, what do you call it?
At 29 work week.
I agree.
At a right there, they're doing 27 and a half hours.
The study I saw was 29.
It's gone down to 27 and a half hours.
Netherlands, number one on the list.
What about the least amount of work they do?
Hours they work.
Germany's next.
They dropped the leaves.
They're so industrial.
They have dropped recently.
This is a recent number.
Keep going.
This is the Germans.
Keep going.
Keep going.
Norway.
Population.
Scandinavians.
Ulrich.
Get back to Warmark.
Keep going.
Keep going.
These Democrats.
Keep going.
There they are.
Selling Europe.
Slowly.
Sol Europe.
Keep going.
Go to Africa.
Keep going.
Switzerland.
Keep going.
They're just making one watch a year.
Keep going.
One watch a year.
Austria keep going.
But what the hell is going on?
Here's a problem.
Watch this here.
Here's a question.
We looked at what companies they have invented that has come out of their countries that we've benefited from.
We have benefited from.
The reason why Europe can work as little as they do is because we end to innovate, they take advantage of.
We fund NATO, they sit around and don't do shit.
Europe is a socialist nation, not a nation.
What do you want to call it?
Nation in a country.
Europe is the union.
They are.
They are socialists because we allow them to become socialists.
Okay.
Let me go to the next one here.
Some industries, four-day workweek works.
Not all industries, it does.
There's another one.
It depends on the phase of a company.
If a company has been around for 100 years, it's a $100 billion company.
They don't give a shit if you work four-day workweek.
I mean, well, go.
They're already working four-day work week.
There's so many executives in the nation.
I remember one insurance company.
There was a guy that was making a fat salary with this big ass insurance company all of us know about.
You could never get a hold of them.
You could never do anything with them.
Never called you back.
Never did anything.
Work from home is making a half a million a year, not doing shit.
One day we had a meeting.
I think you were part of that meeting.
Do you remember what happened in that meeting?
Very heated meeting.
Do you know which one I'm talking about?
Where I said, why the hell are you giving me a rep like this that doesn't do shit?
I said, let me tell you, doesn't call me back, doesn't do the guy got fired.
Okay.
He had to leave and he called me and says, what I have to do, nobody can ever get a hold of you.
Nothing.
You're not supporting us.
There are a lot of major companies you can do the four-day work week, maybe even mid-size.
There's no way in the world you can do a four-day workweek in a startup.
No way.
Good luck to you.
How the hell are you going to do a four-day workweek in a startup?
You're not going to do it.
So here's the point.
I love it if they convince people to voluntarily go to a four-day workweek.
You know why?
Because the people that are going to voluntarily do six-day work weeks, game over.
Totally fine.
All the four-day people go to the four-day companies.
All the five, six-day people that want to go take over the world and make this and do something impactful come to us.
We're okay with that.
The level of consequences on a four-day workweek is so massive that all people are thinking about is what is the next thing I can pitch for people to vote for me so I can get re-elected and get another eight years of salary and whatever else I need to be doing.
It's a bunch of bullshit, but it's very marked.
In fact, COVID was one of the main reasons for all this talk.
Because people are like, bro, I'm doing everything from home.
If I do come in now, I want to be here less than I would have been before.
So let me stay home for one more day.
Am I knows?
What state was that media company in that I was running when I had to do all this?
California.
Oh, Cali.
Oh, and did what is that group in Sacramento, EDD?
Yeah.
They were just a pain.
Both of them.
Yeah.
So you get regulated into this.
These things that I did, I did to accommodate, to get the job done, to get customer service.
But you know what?
My fantasy football team, for my employees, Pat, you're absolutely right.
It's the people that were there six days.
That was my fantasy team.
Guess what, though, man?
Listen, the only thing that concerns me, if it is mandatory, if it's going to be volunteer, do it.
I say, I'll vote for it.
I'll vote for it if you want to do it volunteer.
If it's volunteer, if it's mandatory, it's problematic.
By the way, let me add another thing to you, and I'll wrap up.
I'll come to you.
Early retirement, good thing or a bad thing.
55 years old or 62 years old or 60.
Is it a good thing or a bad thing?
No, I do not like that.
Let me read this to you.
Early retirement before the age of 60.
I'm reading it to you from my computer.
Early retirement before the age of 62 has been associated with higher mortality rate risk in some instances.
A study of Shell Oil Company.
Watch this.
A study of Shell Oil Company found those who retire at 55.
Listen to this, Tom.
Tom, listen to this, Tom.
A study of Shell employees found that those who retire at 55 lived to be 65, die 37% sooner than those who retire at 65.
They're not doing anything.
They're just stagnant.
Those who retire at 55, 10 years before 65, they die 37% sooner.
And in general, people who retire at 55 are 89% more likely to die within 10 years.
Those that retire at 55 are 89% more likely to die within 10 years than those who retire at 65.
So four-day workweek is a form of retirement is what it is.
That's exactly what I said.
A reason I held up those nine figures right there, Pat, where you were talking is because I've heard after age 58, and this is what this is saying: retire whenever you want.
You got nine years.
Wow.
That's scary.
That's crazy.
That's what it's saying.
Retire when you want.
After 58 or later, you have nine years.
And Pat, why would you, so how would you correlate that to what?
So are you saying because they're just sitting around, they're not active, they're not doing anything?
Bro, you and I and I want to feel important.
We are put here to feel important.
You ever see these protesters that go out there and scream?
Yeah.
You're like, what the hell?
That is a form of that girl feeling important.
Okay.
We teach our kids how to feel important.
If the way they get our attention every time they get in trouble, they're always going to get in trouble because that's how they get your love.
It's the way we teach importance.
When you're sitting around, you got nothing you're doing anything for, you're not making an impact, you feel useless.
What the hell am I living for?
Maybe I'm no longer needed.
You're right.
I'm no longer.
What am I doing?
I'm checking out.
I'm checking out.
So if I could add to that, absolutely right.
The number one thing that I think everyone is looking for, everyone that's listening to this right now is having meaning and purpose to their life.
No doubt.
That's like above work, above starting a business.
Everyone's searching for that.
My whole thing was I went from being sort of when I was young, not really trying to work, jack of all trades, nightclubs, having fun here and there, wasn't concerned about money.
The exact opposite of building a business.
And then I went all in into the finance world and I'm working ridiculous amount, working like burning the midnight owl, making cold calls, just for like 10 years, grinding.
And then I look back and I'm like, holy shit, I've got money in the bank.
I've got hundreds of thousands.
I'm a millionaire.
This is crazy.
And what did I do at that point?
I took the pedal off the metal and I went back.
I started doing a four-day work week.
I said, Fridays, you can go fuck yourself.
Like, don't call me.
I'm not answering the phone.
I was living in South Beach, vacation time.
Money in the bank.
I'm not worried.
I'm chilling.
But that only lasts for so long.
So at some point, I said, all right, I'm going to Mikonos.
I'm going to San Chope.
I'm going to St. Bart's.
I'm dating a girl.
She lives in Europe and London.
I'm having a great time.
Travel, travel, travel.
The girl and I don't work out.
What happens?
I'm like, all right, I want to do something.
I'm sick of the travel.
I've done it.
I ask everybody.
He's like, how often do you want to travel for?
It's like, I want to travel the world.
It's like, all right, after you do that, what are you going to do?
The rest of your life.
There's another world.
So then what I realizes now is that like having meaning and purpose in your life, I started a little Instagram show that Pat and I were like, this is years ago.
He's like, dude, start doing stuff.
I was like, oh, I like this.
And now I'm doing two jobs, working my ass off.
So that Friday that I replaced now became every Friday, Saturday, Sunday, I'm working on a side hustle because I wanted to have meaning and purpose in my life.
I always say that my job is what I do.
It's not who I am.
There's a big difference, a big disconnect.
This is a little bit more who I am.
So money gives you options, right?
So what happens is as I'm doing my job and I'm starting interviewing all these wealthy people, NALBA, Heckerling, financial conferences, I started asking the really, really rich people, the millionaires and the billionaires.
And I said, all right, like after you get the millions and billions, like what do you do?
Do you just retire?
They're like, retire.
Like, I'm going to do this forever.
Like, because to Pat's credit, you want to have meaning and purpose in your life.
It's not just about the money.
And what I found out is that these really wealthy people didn't just retire and do nothing.
What did they do?
There's three major things.
They travel.
They pursue a passion, starting a podcast, whatever, right?
Or they give away their money and they donate their money.
Why?
Because they want to leave a legacy.
So there's different phases.
I just kind of walked you through three phases.
One phase of just like party guy, not worried about shit.
You know, I don't care about money until like, holy shit, money's pretty important.
Let me do that.
I made money.
Let me take my pedal off the metal.
And then you kind of get re-engaged with the next phase of your career.
You're big on chapters in your life, Pat, right?
Zero to 20.
Don't fuck it up.
I mean, you can kind of say what those things are.
By the way, Adam, you're making a very good point because you've experienced it, right?
You didn't have to do it.
And when you live like that, by the way, years go by so quickly.
You ain't doing shit all of a sudden.
Four years went by.
Not four years went by.
Waste of a life when you do that for too long of a time.
But by the way, just to wrap this thing up, I'll just give you a more logic side to this.
What happens if a person's working five days, they go to four days?
That's one on five is what?
20%, right?
If a company loses 20% of labor, they have to hire 20% of labor for the same amount.
Okay.
So if they go have to make up the other 20% of hours that they're going to need the labor, what happens then?
Then I have to raise my prices by 20%.
A $5 burger becomes $6.
Okay.
A $50,000 car has to become $60,000.
Okay.
I just have to do it because I got to make up that additional 20% that I got to go hire labor.
For people that sell this from the manipulative way that unions sell this, thinking they're doing the right thing, they have no, they don't care about the person that's sitting there, what is going to happen on the other end.
You think they care if price is going to go up on 20%?
They're just happy to get re-elected.
Doesn't affect them that much.
And by the way, I'm going to send you this thing.
Take a look at this.
Your states that population change in 2022.
Show this chart if you can, Rob, on what happened.
I'm sending it to your MacBook Pro.
I don't know if you're seeing it or I'll send it to your phone and the computer.
If you're seeing it, pull it up.
Check this out.
And while they're looking it up, remember, unions get dues based on a little percent based on what you earn.
They'd love you to make more over time, and they'd love to have more people making less.
They make more that way.
100%.
So guess what?
If you can show this chart, guys, watch this here.
Not the pickle chart, please, Rob.
We've had enough pickles for the day.
Watch this here.
Look at this.
Make it big so we can see it.
You know what that is?
That's the states that lost people and states that gained people.
California, keep doing stupid things.
Keep doing it.
The people that are leaving you are the people we want in Florida.
Wow, that's a great chart.
The people that are leaving you, they're coming to states like ours.
Keep doing four-day work week bullshit union stuff, driving the entrepreneur out, just like you keep losing people like Musk, Rogan, big job creators keep leaving you first-time net, you know, of your population going lower since 1851.
You keep doing stuff like that.
Look at the North, by the way.
Look on the other side.
Look up Pennsylvania.
Look at New York.
Look at what they're going through.
Look at Illinois.
Look at all those guys.
No problem, Oregon.
Keep doing it.
Texas winning.
Florida winning.
Arizona winning.
Utah winning.
South Carolina winning.
North Carolina winning.
That's totally fine.
There you go.
This is, I would break this down to.
Yeah, I was going to say, I'll break this down into 80-20 rule.
Like 80% of the map where people are getting the hell out of are the over-regulated, highly liberal blue states, typically, right?
They're getting the hell out of California.
They're getting the hell out of Oregon.
They're getting the hell out of New York.
Yeah, left paycheck, right?
Illinois, all that.
Absolutely right.
They're moving to Florida, Texas, no doubt.
But the flip side is the 20%.
What the hell is going on in Louisiana, Mississippi, West Virginia?
I mean, nobody wants any part of that.
Nobody's moving to these states.
Just a little food for thought.
Nobody wants to be part of a shitty state.
And so what kind of rules are going on in those states that is driving out their people?
That's what I'm wondering.
We know what's driving out people from liberal states to more conservative states.
We know that.
You know, I'll tell you, Adam.
I'll tell you this.
Give me the shittiest state.
Okay.
Let me run it for 20 years.
I believe you'll do nothing.
Hear me out.
Whatever you call as a shitty state, any one of these states, let us run it for 20 years.
It will be the greatest state in America where will attract the best talent to come to our small little state that we have.
I don't care how big of a state that is.
Listen, bad policies have consequences.
Bad ideas have consequences.
Leadership, good ideas, attracts people who go there because one thing happens to creators.
Doers and creators are interested in one thing.
They want to feel safe.
They want to go to a state that they feel safe.
Trust me, they can sit there and say, well, I have to deal with mosquitoes.
I have to deal with lizards.
I have to deal with rabbits.
I have to deal with this.
I have to deal with hurricane.
I have to deal with tornado.
I have to deal with.
I don't care if you got any crisis you got in any state.
Free thinkers and doers want to go to a place that they're going to feel safe, that their ideas are not going to be ripped apart and they're going to be treated like shit like California is treating them.
No doubt.
Period.
Scream.
By the way, when people say, well, why is California the top economy in the world, top economy in America?
It's the number four, number five economy in the world, if it was a country, because of policies that came out 50 years ago, not right now.
A policy that came out 30 years ago, not right now.
They're so into it deep now that those companies cannot leave anymore.
You think if Bezos had to do it all over again, you think he would have gone to Seattle?
What do you think?
No.
But it's too late.
You kind of are stuck.
Now you're in Seattle across the street from Microsoft.
Some of these things happen.
New York and Wall Street.
I mean, he's building headquarter two in Virginia.
Yeah, massive.
After AOs for a different reason.
So, Pat, just looking at this real quick, if we had to, as a team with you as the leader, take over one of these states.
Yeah, it's called Florida, buddy.
No, take it over.
I mean, besides us, where would you go on there?
Anywhere.
I don't care where you go.
You don't give a damn.
I'm just telling you.
I believe it.
I don't care where you put it.
We'll get the best people to come.
I believe it.
I don't care where you put it.
New Mexico, wherever we're going.
Are you about to make an announcement right now?
Is an announcement happening?
I just want New Mexico.
Pat, people are asking.
No, no.
Everyone wants to know.
No, Don't create rumors.
I'm just saying, like, all I'm saying is certain policies are going to attract those people.
I'd be good.
I would be in California for a month straight in a freaking RV driving up and down, up and down, up and down, up and down.
Hey, this is Patrick B. David from the state of XYZ.
We're here to talk to those of you that are actually working that are feeling like you're paying too much taxes.
We got a solution for you.
Come to our state.
Come on now.
Let me explain to you what we're doing.
Well, no, no, no.
And there's a sick and tired of the union.
That's what we'd be doing.
We would literally be sitting there recruiting people.
Don't worry, get on the bus.
We'll drive down to our state together here.
That's what we'd be doing.
I love it.
And we'd have a freaking time of our lives.
But we're building a media company.
It's a whole different story.
So come on down to Valutainment.
We're all extending applications right now.
We're a free thinker.
All right, let's go to the next one.
Don't joke about that because Valutainment, on a serious note, if you want to work in media and you want to work in South Florida, you should go check us out because we've got opportunities for people that want to hustle.
Thank you.
End of plug.
By the way, it's not even end of plug.
We interviewed our ninth editor-in-chief.
The people that are calling us are from some of the biggest media companies in America.
Pretty impressive people that are coming in with the resumes that are some of the names you know.
We're hiring.
We just hired a CFO.
We're hiring a general manager to run the entire, what do you call it?
Our consulting firm is blowing up.
Yeah.
We need technology folks.
We need CTOs.
We need COOs.
By the way, qualified.
We're not talking about let me just send a resume because I want to be part of the team.
We need folks who are maybe retired, but you had a couple exits for 50 million, 100 million that you have a lot of value to bring to others.
We want experts because we can sell your time as a consultant.
There's a lot of different things we're looking for right now.
If you do have a resume, email at Robert at Valutainment.
Once again, robert at value tainman.com.
Robert at valuetiman.com.
Okay.
All right.
Next.
Can you play that clip?
Jamie Diamond was asked this question.
I'm going to read this article and then I want to play this clip.
By the way, quality.
Who is this, Pat?
Rob, was that you?
We need folks.
I hear Pat.
I hear.
I think it's every time you open it up, it comes up.
So I don't know what it's a replay.
We want experts.
I hear Pat.
Private on audio.
Okay.
Okay.
So let's take a look at this.
So JP Morgan is growing in Florida and Texas.
States that like business.
Diamond says.
Watch.
Just play this clip.
Let him say what he's saying about these different states.
I think you have the clip somewhere.
Yeah, that's the one right there.
If you can play that, you got it, Rob.
Is it?
Just refresh it.
Click on it to refresh.
If there we go.
There we go.
Tell me we don't have to watch it.
There you go.
Audio.
Audio, Rob.
Morgan is growing in Florida and Texas.
States that like business.
Diamond says one of the YouTube channels.
Just play this clip.
Let him say what he's saying about these different states.
I think Rob, one of your windows is open.
Yeah, that one.
Close it.
Close that YouTube book.
Anything that's YouTube, close it.
Okay, let me start it from the beginning.
Hang on.
Let me start it.
We love hearing your voice, Pat.
Don't you soothing.
JP Morgan is growing in Florida and Texas.
States that like business, Diamond says.
He says the following about recession.
And some people that were not part of these two states were not happy.
Play this clip.
What are you worried about?
Great to be here, by the way.
So thank you.
The thing I worry the most about is, you know, it's Ukraine.
It's oil, gas, so the leadership of the world and our relations with China.
I mean, that is much more serious than the economic vibrations you all have to deal with on a day-to-day basis.
Can you stop it?
I feel like it's so loud.
I don't know what just happened with that clip.
If you can.
It's live and telephone.
Jamie Diamond yelling at that rules.
No, he wasn't all the audio rules.
There's a 30-second clip of him saying that.
You have the longer one.
There's a short of him saying that that he's talking about.
And while you're looking for that, I'll just read the article here.
He explains the J.P. Morgan Chase is expanding in Florida, opening branches.
We can hear you typing.
Opening branches in a state that's seen an increased influx of Wall Street firms since the pandemic.
We love Florida.
We're growing in Florida left and right.
Jamie Dimon says in an interview in Miami, it's part of a broader move that's seen firms like Ken Griffin Citadel move headquarters from Chicago to Miami last year, as well as ARC Investment Management's Kathy Wood relocate to St. Petersburg, Florida.
Florida and Texas are states that like business.
They want you to come.
They want you to come.
We now have more employees in Texas than in New York State.
It shouldn't have been that way, but Texas loves you being there.
Texas loves you being there.
How long is that?
This is 57 seconds.
It's pretty much what he's saying.
It's the same thing I just read.
Play the clip, so if some audience can see this.
And it's roiling trade relations between America, China, and the rest of the world.
So this is probably the most serious geopolitical thing we've seen.
No, it's playing the other one.
I don't know what's going on.
Your computer's out of whack right now.
Yeah.
It's not playing well.
Don't worry.
Tom.
What are your thoughts about what Jamie's talking about, Florida and Texas?
Jamie is saying out loud what everybody's been watching for the last 10 years that people are moving here.
And now, what Jamie is saying, he is, here's what he's doing.
He's speaking in code.
He's also speaking to the governor of New York.
You want me, you want me to stay here.
You need to start playing live.
So there's a little, you know what I mean, Pat?
When you say something to somebody and you leave somebody out, the person that's left out gets the message.
But he's also stating the obvious, saying, hey, these states want us to be here.
The climate's good.
Things are good for business.
And it shouldn't have to be that way.
But Texas loves you being there with the emphasis on loves you being there.
They feel welcome.
And he says, and we're growing in Florida.
Yeah, so it's where he's getting growth.
So it's, I think, treat me well and I'll show up.
That's it.
So treat me well and I'll show up.
I'll say one thing about Florida being born and raised in Miami.
I remember in the 80s and 90s where I was like the weird cousin that lived in Miami.
Now it's not so weird.
Now I'm like, it's cool to live in Florida, but it's kind of like bittersweet that our little secret, that our cat is out the bag here in Florida.
A guy like Pat should have never lived in Florida.
He should have been in California.
That's where his family's from.
But at some point, you're going to push someone out who says, like, if I just do this and this and this, we've done this all the time.
At some point, a guy like Pat is going to leave freaking California.
A guy like Ken Griffin is going to leave New York.
You saw that he was the number one hedge fund manager in the world, by the way.
He made $44 billion.
What's the number that he made?
Some ridiculous billion dollars.
Four and a half with his firm himself.
Some ridiculous.
I think he left Chicago, by the way.
Not yet.
Okay, sorry.
But all these guys are basically moving to Florida.
But the leadership in Florida that we've seen, whether it's DeSantis, whether it's Mayor Suarez down in Miami, hedge funds are coming.
Big tech's coming.
The crypto world has moved here.
It's a very good climate to be in, literally and figuratively, for business and for lifestyle.
And I think the cat's out the bag of what's going on in South Florida and Florida overall.
I think there's a complete different message we're missing on what Jamie Dimon is saying.
What?
Jamie Dimon is in Miami.
If Jamie's in Miami talking, doing what he's doing, he's also selling the guy who runs this state called Florida.
What's his name?
His name is Ron DeSantis.
I know that guy.
Right?
That he just came out with a book, Ron DeSantis.
And I don't know if you read his book.
In his book, it's interesting.
New York Times just did a article about his book.
Of course, New York Times has to trash his book.
It's what they do for a living.
But here's what New York Times said.
Five takeaways from this book.
DeSantis avoids clashing with Donald Trump.
DeSantis praises Trump for bringing unique star power to the 2016 campaign.
He criticizes the Russia investigation and mostly blames Dr. Anthony Fauci and other health experts for federal government's initial response to the coronavirus pandemic.
Yeah, because Russia was fake and Fauci and them were wrong, okay, for the way they handled it.
And Florida showed that they did it the right way, not some other states.
Now, again, that is my opinion.
A lot of numbers can show that, but that's the first part.
Second, DeSantis underplays Trump's influence.
It's widely accepted that Trump's support was critical to DeSantis' victory in 2018 race for governor, but DeSantis presents a different take.
His debate performance was the clincher he writes.
I disagree.
I read the book.
DeSantis specifically said that President Trump, one time before DeSantis even announced he's running, he asked him for a favor to say something.
Trump tweeted about DeSantis saying if he ever ran, he would be great prior to him announcing.
Then DeSantis announced that he's running for governor.
And then when it's getting close, when the debate happened between him and Andrew Gillum?
Yeah, not Gillum, the one, the Republican.
Charlie Chris?
Not Charlie Chris.
No, no, no.
DeSantis, the first one he went with.
Not 2018.
Andrew Gillum.
Is it Gillum?
2018.
Okay.
So he's going against Gillam and they're having the debate.
And then it comes to the point where he needs an endorsement.
Then Trump tweeted again.
So he gave credit to Trump supporting him twice in the book.
So whatever New York Times is saying, if a person, if the average person doesn't read the book, they're going to say, oh, did you see what he did?
In the book, he clearly states, if it wasn't for those tweets, that would have not been the same.
So he gave credit.
I just want to make sure people know that.
Number three, DeSantis sees the COVID pivot point.
When 2020 got underway, I was merely a state governor entering his second year in office.
DeSantis writes, within six months, I would emerge as one of the leading anti-lockdown elected officials in the world.
Yeah, that's a pretty big decision he made.
Number four, DeSantis boasts of his use of executive power.
Both critics and courts have rebuked the governor for executive overreach, but DeSantis is unbowed.
He writes proudly about promising to overly overrule any major that did not want to host ultimate fighting championship events during the pandemic.
The book touts his removal of the elected prosecutor in Tampa, a Democrat, and he calls state budget vetoes a source of leverage against GOP lawmakers who do not want to face primaries.
He explains all of that in the book.
The way you were going to say something.
I would say, don't forget about point number one.
It's not just the UFC.
Where did the NBA pay?
That's right.
Where did the Super Bowl came?
Everybody came.
Where did AOC go for vacation for Christmas?
She was hanging out with me.
Number five, DeSantis does not dish.
Anyone looking for insight into the famously closed off governor will be disappointed.
DeSantis offers a few behind the scenes details and skips over some parts of his biography entirely, including the 2016 run for U.S. Senate.
He does write about marrying his wife, Casey, at Disney World, but without Mickey Mouse or Donald Duck in our wedding photos.
You know, I will tell you this from reading it.
You know how the book was written?
I've worked with people like DeSantis in my career, and people like DeSantis in my career that I've met, they're very structured.
Like, let me tell you, this is the kind of guy that from 25 years ago he was careful on every text and email that he wrote because he knew this day was coming.
Got you.
Okay, this is the guy that's very methodical, who gets in, who's close.
I can probably tell you, he probably doesn't have 40 friends.
This is the kind of guy that probably has two to five friends max, is what DeSantis got.
And that's intentional.
This is not a guy that trusts a lot of different people.
This is not a guy that lets a lot of people into his life.
So if a person says things like that, would I say, yeah, they're right?
Yeah, if you read the book, there's some parts of it where he's aloof.
He's not giving you a lot.
Gotcha.
But that's because that's his personality.
So I mean, that's think about having that vision, that focus, that dedication, Pat, from all those years to know that all those years later, it's going to come to a point where you're not going to have that grab them by the you-know-what moment or the this or the text or the, you're just a clean cut.
You hope you see.
You hope.
Oh, don't get me wrong.
If he is the front guy, the left is 100% going to find some shit because they have people looking at that right now for Trump number two.
If you know he's running and for DeSantis, but it's going to be way more difficult to find it on this guy, bro.
Way more difficult.
I found that review by the Times a little more balanced than I would have expected from the Times.
But there is one thing that they need to go look in the mirror, catch a little reflection.
Oh, he abuses executive power.
It's the New York Times that's been asking Biden to use the executive order pen against conservatives for the past two years.
And they were pushing Obama last day in office to do certain executive orders.
So let's calm down on that part of it because that's the way this game is played.
Exactly.
Yeah, obviously he's kind of what he did with these five points right here.
He's basically saying, thanks, Trump, but no, thanks.
Exactly.
Appreciate it.
What he does here with point number two.
Like he's saying, thanks.
You got me in 2018.
But thanks.
I'm kind of this way now.
But no disrespect.
He's kind of not talking trash out there, even though Trump, you talk about what's going on.
He leaked that picture of Ron DeSanctimonias with underage girls.
Like Trump's got to have some more stuff off his playbook.
I think at the end of the day, if you're asking just any old average American, what they think that DeSantis sort of represents freedom and Trump is more the chaos candidate.
And that's not who's going to be in the primary.
I mean, but for a general election.
You know what I saw today?
I think it was on Vanity Fair or I saw it on Economist or one of them where it said Trump can still be president even if he's convicted or he's charged or he's this.
That's kind of what they were saying.
Really?
Yeah.
So there is, listen, there is a lot of fear.
Is this the one?
Yeah, here it is.
This is from who?
Can you tell me who this is from?
ABC.
ABC.
Trump could still be elected president if indicted or convicted, experts say.
Okay.
So let me ask you, why would ABC write this article?
Why would you keep the heat on?
On who?
On Trump.
They want to keep the heat on Trump.
They want to keep people revved up attacking Trump.
They don't want people.
They do not want people to back off.
That's the last thing they want.
Oh, he's been indicted.
He can't go.
So you back off.
And what that does, that clears the runway for DeSantis not to have, to build momentum and not have to deal with the Trump conflict.
Yeah, I think to me.
Am I making ABC sound too smart?
No, I get it.
I think it shows signs of weakness and fear that Trump could win.
I think this shows signs of fear that Trump could win.
And they have to kind of mentally get ready.
Did you see the article about the fact that Democrats are thinking they got to get Michelle Obama in the mix?
Do we have that article or no, Rob?
Which page is that one in?
Do you know about Michelle Obama?
Call her that phone.
She's her only hope.
There it is.
Page 10.
There's a story about Michelle Obama for president of the United States in 2024.
Behind the scenes, Democrats are mulling the best leader for the party who could win against former President Donald Trump in 2024.
Amongst the names of possible contenders, former late First Lady Michelle Obama, who's 59 years old, and with her it factor could emerge as a top candidate.
However, she has repeatedly denied any interest in seeking office.
Some high-level Democrats are rallying to President Biden's reelection, not because they think it's the best interest of the country to have an 82-year-old start a second term, but because they fear the potential alternative to the nomination of Kamala Harris and election of Donald Trump, other possible candidates include those who previously won the Democratic presidential nomination, such as Hillary Clinton, John Kerry, Al Gore, but they failed to address the concerns of some voters who want a younger president as Clinton 75, Kerry 79, Gore 74.
She's 59?
She's a very, very formidable candidate.
100%.
Huge, formidable.
Huge.
She is huge.
No, I don't.
Is there any indication?
Any?
What?
That she's even interested in running.
It doesn't matter.
I don't think there's anything that's that she's given no indication that she's going to be running.
I don't think she's running.
I think there's some hope for her to run.
I think if you're looking, if you're a Democrat and you're looking at Biden, you're like, all right, buddy, keep it moving, Sleepy Joe.
You might, this is sort of wishful thinking, sort of re-emergence, a renaissance of Obama, and here her husband will be in the White House.
I don't see it.
I've seen nothing of it.
She keeps getting pulled in the polls for the top five.
There's nothing.
She announced Adam and she was up running against.
Would you vote for her?
Until I see a candidate that I think is a better candidate than Ron DeSantis, I'm in the DeSantis.
And I respect you for that.
We talked about that earlier.
Even over Michelle Obama, but here's my question.
Adam, I think there could be a moment, because, bro, think about it.
We're the audience, Pat, everybody in here.
We're not stupid.
Joe Biden is not in charge of anything.
The real people, the real Democrats that are part of the Democratic Party, Obama's in there with Hillary and them.
I'm telling you right now, if they get scared to a point where they're like, hey, guys, this cat's not going to win.
Maybe Newsom's not really the guy.
We're going to have to pull the trigger and say, listen, Michelle, we love you.
We know you don't want to do it because you're selling out arenas, just talking about God knows what.
We need you to run.
Why would she say no?
They need her.
If your husband's like, yo, the party needs you.
Well, we can make our change.
We can make our policies, make our things.
I think she should say yes.
100%.
By the way, first, let's ask this question.
The first question is, would you put her at the top of the list on the left that's the most formidable if she ran?
100% yes.
Is she above Newsom?
Think like a Democrat, not that you like or don't like.
100%, Pat.
Likeability, her last name.
You agree?
I think at the top, you have Michelle and Newsom.
And if you want me to handicap between the two, I think it's 60-40.
And she's 60, and he's 40 on the top two.
And I don't care about anybody else.
And stop talking about Kamala Harris.
The big money and the DNC want her to go away yesterday.
Perfect.
Kamala.
So every time he stumbles.
I think the story she told about conservatives.
Yeah, she's when she does that, I have a diarrhea.
I have to go to the restroom.
I love hearing her talk about space because space, you know, space.
Space is so vast.
That's why they call it space.
Here's a question.
Here's a question.
If Michelle Obama, did you agree that she is the most formidable on the left?
I don't.
Who do you think is?
Formidable?
Yeah.
I think.
Formidable?
Yes.
You still have to put Biden on the list because he's the incumbent president.
Do I think he's formidable in general?
No, but currently, then I would put Gavin Newsom up there.
Go ahead on Michelle.
Yes.
Michelle's not anywhere even on my top 10 list.
Me, personally.
Really?
You might be like, I'm crazy.
That's nuts.
She's given no indication.
Why, though?
She's done nothing in the nation.
This is not an indication question.
This is a question of she's African-American.
She's the wife of Barack Obama.
She's not really a first lady.
She was seen as a partner of Barack Obama.
She is strong on the left.
They love her.
Oprah, Hollywood music, Beyoncé.
There's a lot of different things there, right?
She's a dance person.
Okay, so you're not saying whether she's formidable, Mark.
You just don't think she's going to run.
I'm just, you know, there's nothing that's basically motivating me to give two shits about Michelle Obama right now.
Yeah, but that's not the question.
No, I get it.
I wouldn't go to a Michelle Obama rally.
I don't know what she stands for.
She's never led anyone.
She's the wife of a president in my eyes.
That's it.
Do you realize, like, even the AV people didn't go to Biden's rally?
They left.
The audiovisual people that were working the mic, they just left because they said anyone's going to be here.
Okay, let's play this game with Michelle Obama.
Why would Michelle Obama, if you're sitting there with her, you're at her house, she trusts you, you're somebody with her and a Barack, you're having dinner, you and four other people that she trusts.
And you say, Michelle, why do you not want to run?
She's going to say, what?
I just want to be a mother.
I enjoy being a wife.
I enjoy your life.
Money's good.
Life is good.
Money's good.
We are living low-key.
We get to do whatever we want to do.
I'm enjoying my years with my husband.
We got plenty of years left in us on what we want to do.
I just don't want to do it.
Okay.
So then you have to go through the concerns.
My schedule, da-da-da-da-da.
So now the other person's got to sell it and say, what if we could put a team together around you where you can still do a lot of things you want to do, but we go out there and do this and we do a one-term thing right now?
Because the only reason we do a one-term is because Trump's probably not going to run four years from now.
Do one term.
Let's pick a VP.
Let's give the VP to whoever else.
Anyways, the conversation about how to sell her to run where she doesn't have to give up the life.
Do you sell the supporting cast or do you sell the history or do you sell America Democrats need you?
What do you sell?
What do you sell to Michelle for her to run?
I don't think you ever go up to somebody like that and say, American needs you, do us a favor.
I think you sell her on cause, president, and legacy.
You'll be the first female president.
You will be able to set a chart for a lot of the things that you believed in and you were working on.
Do you remember when you cried the afternoon, the inauguration, because you said you felt like you were giving up the momentum that you had on the causes?
Michelle, you can put all back on the front burner.
You're only 59 years old.
And by the way, American needs you to lead this cause.
I sell her on cause and legacy.
I think there's going to be one problem, Pat.
It's, you know, the holy thing, they're not going to find one picture of her on the internet where she's pregnant.
Here we go.
And that's going to be one of the problems.
I'll put that.
That's the challenge for anybody that's watching.
You cannot find one photo of Michelle Obama pregnant online.
And I'm telling you right now, that's going to be a problem where they're going to go, wait a minute.
Where are you pregnant?
That's where you're going to go with this.
I was just going to say, people are going to be like, dude, show me one.
Danny, I know you love these types of.
I'm just saying.
I'll put my gauntlet out there.
I'm going to address the question.
Go ahead, if I may.
Even if there's no pictures, here's a question for you.
Yeah, objectively.
We're playing fantasy football.
Elect the president.
You have to be the Democrat captain.
Sell me on selling her to do it.
I'm picking you as my quarterback.
Selling me to have Michelle do it.
You're talking to Michelle.
You're selling Michelle on doing it.
Run, Michelle.
I would say, listen, first of all, the way that it's looking, the guy that's in charge right now, we're going to lose everything with this guy.
You're going to be the savior of the party.
Look what your husband did.
Look at your legacy.
Look at your family.
We need you because the way that it's looking, guess who's coming back?
Trump.
I'm telling you.
And if you don't like Trump, Trump Light is going to be DevSantis.
We need you.
Your husband needs you.
I think you guys got it all wrong.
I don't think so.
And I'll tell you why.
There's nothing to sell her on.
Either she wants to do it or she doesn't.
That's my opinion.
You don't think her husband has any hear me out?
You don't think Barack Obama is.
It's going to be a conversation between her and Obama.
And, you know, hey, you're 6'10.
You're a big guy.
You should be of NBA power for it.
You should work.
It's like, yeah, I don't want to play basketball.
You're not going to sell somebody to want to do something.
How many sales guys do we have upstairs that work a value team?
Shout out to them.
Hey, if you do this, you can make this amount of money.
I promise it's a life of your dreams.
Yeah, I don't really want to make cold calls.
There's nothing that shows me that she has the heart and the fierceness to want to do this.
No one has to sell her on this.
If she needs to sell herself or she needs to look in the mirror or have a conversation with her husband, who was the two-term president, and there's nothing that I'm seeing that she wants this.
Trump, he fucking wants this.
Like him or not, he wants this.
DeSantis is heading that direction where you know behind closed doors, he's like, I can do this.
Okay.
Even Biden had to kind of get pushed into it.
He didn't want to run against Hillary.
2016.
Now there was nothing to sell.
This time around, he kind of got sold this time.
There's nothing to sell Michelle Obama.
She either wants it or she doesn't.
And in my mind, she does not want this job.
She doesn't want this smoke.
She doesn't want it, Adam.
But the reason she is who she is is because the Democratic Party's husband has made her.
You would never have known who she was.
This is going to be.
You don't think he has no say in this?
Like, hey, we need you all this time.
This is going to be very controversial, and I hate to do this on International Women's Day.
What?
Okay.
Obama's the man.
He's the husband.
He's the president.
Okay.
She's a first lady.
That's it.
Melania, hottest first lady ever.
I don't need her fucking running the country.
Okay.
That's it.
That's the extent of what I think of Michelle Obama.
Do you think she's more than I disagree with that?
And I challenge you to go back and look at the origins of Melania and look at the origins of Michelle Obama.
Michelle Obama was not some model, hotty communications major at college.
She's a lawyer.
She was formidable.
They were working together in Chicago one thing.
She's got cause in her heart.
And that's why I say cause, president, legacy.
That's how I sell it.
You're absolutely right that she's not just some Slovenian model that showed up to be a third wife.
I got that part.
Very high.
Okay.
I got that.
She's a hypothetical example.
I know, exactly.
I got that part.
No doubt.
They met in law school.
I get it.
You either want this fight or you don't want this fight.
There's nothing that I see about Michelle Levana that she wants this at all.
Listen, I would bring Ryan Gosling and I would have him stand in front of her and say, what do you want?
What do you want?
And then we would watch the notebook and we would say, let's go build that White House for you.
Pat, you're a percentage guy, and I value you exactly because you're not, you don't go down Vinny conspiracy lane.
That's not a conspiracy.
Find the photo of her pregnant.
What isn't one?
Chances.
Her electability is high, no doubt, that she wants to do this.
She wants to?
That she would do this.
Less than 1%.
Okay, so you're at less than 1%.
I'm less than 1%.
All right, so you're in Sussex camp.
But she doesn't want this.
No, no, it's not she doesn't want this.
Listen, there are honestly, there are certain jobs that you don't get to choose if you want to do it or not.
It's a calling.
It's a the conversation is like, okay, when you get a call, say somebody becomes a president and they say, Adam, you're worth 70 million bucks.
It's 20 years from now.
You're 60 years old.
Okay.
Adam, I need you to come in and be the secretary or whatever, or I need you to do this.
We need your help on this part here.
And it's a guy that you respect a lot, and he's done a lot for you.
And you're like, dude, I'm married.
I got kids.
Listen, I'm telling you right now, I need you.
This is not a call to ask you.
I'm telling you, I need you.
So I'm not recruiting you.
I'm telling you, you're the right guy for this job.
And I know you like the country club lifestyle.
I know you've been chilling.
I know you like to get on that boat.
I know you like doing all this stuff.
Totally get it, bro.
But America is bigger than you and I, and I need you right now.
So when can I get you to come to D.C. for us to have this conversation together?
That's the phone call you would get from me if I was the guy there.
So if the people she respects, the conversation is, we kind of need you right now.
Here's what's going on.
There's a difference when you're called versus a job to do.
This is not a job.
This is a calling.
So I don't know.
I would take a different approach with her if it came down to it.
But at this point of the game, who knows?
Maybe if we're all of a sudden somebody out of nowhere like a mayor Lori Lightfoot could come in and say, I want to be this.
Betelgeuse, Beetlejuice, Beetlejuice.
Lori Lightfoot's the mayor of Chicago.
She's kind of busy.
She used to always be.
Yeah, she's not.
You got me.
Well, that's what I'm saying.
There's a job opening.
So let's go to page number six.
Tom, I'm going to give this one to you with what's going on with India.
iPhone maker plan, $700 million plant in India to shift away from China.
This is a Bloomberg story.
Apple Inc. partner, Foxconn Technology Group, plans to invest $700 million in a new plant in India to make phones, parts, and possibly assemble handsets on a 300-acre site close to Bengaluru airport.
According to anonymous sources, the investment is one of Foxconn's biggest single outlays in India to date and may be used to produce some parts for its nascent electric vehicle business.
The factory is expected to create 100,000 jobs and marks a shift of manufacturing away from China and midtensions between U.S. and China.
India has offered financial incentives to Apple suppliers and the move away may help the country close its tech gap with China.
Tom.
People need to think about India this way.
It's kind of the same shade.
India is the Texas of foreign manufacturing.
They are trying to attract a lot away from California, which is China.
That's what's going on here.
And Foxconn, so India's government's trying to do that.
And Foxconn is hedging a bet because they see risk in China.
And they also get a lot of blowback right now from the United States on Chinese manufacturing.
This, I believe, is one of the early shots in what's going to be an insane war over the next 10 years economically for the manufacturing center.
And there's only one country on earth that has population that starts with a B that China fears, and it is India.
Yep, I've been saying that for, I agree with you.
I've been saying that for a minute.
I think India is the country they go to sleep fearing the most because India says, we don't fear you.
We don't give a shit what you think about it.
Adam, do you have any thoughts on this?
Yeah, I mean, it's good to see that these big manufacturers are moving away from China and everything they've done to steal our intellectual property.
I think Modi's been in charge since, what, 2014, give or take.
So he's doing his thing out there.
And then, you know, the only thing cheaper than underage Chinese labor is young Indian labor.
I mean, you're being wrong.
I mean, he's being on this.
Sounds like India is the new home of cheap child labor.
I mean, he's being honest.
So these companies are not there because they give two shits.
They want to make money.
So it hurts, but it's cheaper than Chinese labor.
And this isn't the companies coming in running sweatshops.
This is the Indian government giving financial incentives for 300 freaking acres and 100,000 jobs.
That's pretty freaking meaningful.
That's amazing.
That's great.
Vinny, give us your insight from the AI standpoint.
From the AI standpoint, robots are going to take over that thing in 20 years.
100%.
That's all I have to say.
In India?
Oh, yeah.
But Pat, speaking of AI, just really fast, I know we have January 6th and all that to talk about.
Have you been seeing the fake where they're having Biden speak and it's not Joe Biden?
And it's scary as well.
It's on top of a deep fake.
It's the voice, if you close your eyes, is so accurate.
I'm saying right now, in 10 years when they perfect it, you're not going to know who the hell called you and told you to come here or give you this or you didn't say that or you said something racist.
It's going to be a fake AI saying that you said it.
It's going to be almost impossible to prove that it was you.
I can't wait to meet your fake AI.
Oh my God.
I mean, that's good.
Have you heard them, Pat?
Look at them.
Is this the rest of it?
Are you familiar with the 2011 film We Bought a Zoo?
The Matt Damon picture.
Scarjo is in it as well.
Although her performance isn't anything to shake a stick at, if I'm being honest, it was directed by Cameron Crowe, the fellow who made Jerry Maguire.
Show me the money.
Anyway, so I was watching We Bought a Zoo a few days ago because he was on my discount.
If they perfect that, if they perfect that, how much better does that sound than I like being in a pool with kids and they rub on the leg and all my legs?
Like, what the that sounds presidential.
By the way, that could help him in 2024.
100%.
By the way, all he has to do is he has to go like this.
He has to go like this.
Like, can you see my mouth what I'm saying?
As long as they can't see my mouth, you'd just be like, put on the mask.
The microphone has a jump.
Another pandemic comes.
Put on the mask.
By the way, did you see what the mayor of New York said, Adams?
No.
With all the camera when they're catching all these guys that are going in with Eric Adams, they're going in with masks on.
He says, moving forward, we have to remove masks in New York because we can't catch criminal anymore.
Are you kidding me?
How funny?
How funny is that?
How freaking funny is that?
These are the numbers have been wearing Mayor Adams to New York City shoppers, drop that mask to prevent robberies.
Mayor Eric Adams telling shopkeepers good bar customers who refuse to lower their masks.
You would think this is a Babylon B story, but it's not.
Who is this, by the way?
New York Times.
Oh, my God.
Can you zoom in so we can see the logo at the time?
It's a freaking New York Times story.
Like, what a flip.
And Pat, think about it.
You know what COVID made me realize, especially in California?
The old gray lady.
Yo, you know what?
COVID made me realize what masks in California.
It was never really that serious wearing a mask inside of a bank.
I would wear the whole cover and nobody.
Security's like, yeah, come in.
Nobody cared.
And then COVID hit, people like, put on your cover your face, come into the bank.
So it's not even a big freaking deal.
Big deal out there.
Did you see, you know how rare it is for Walmart to close stores?
You know how rare it is for Walmart to close a store?
Okay.
Walmart and one of their blue cities that they're in.
Okay.
Okay, here we go.
On Thursday, company spokesperson from two locations in Portland, Oregon.
I wonder why.
What?
They're going in there taking products, leaving.
You can't do shit about it.
Portland, Walmart closures attract national attention.
Wheeler, Texas Governor Abert Spars with.
And the way they put it, it's like, well, you know, they're having a hard time.
But look at this story.
Walmart last month announced it's closing two of his Portland stores, but it's drawn a fresh round of attention this week as politicians spark online over the cause.
The detailed giant will lay off 580 employees when the stores close March 24th, according to a regulatory disclosure.
Here are five things to know about the closures.
Whose article is this, by the way?
There's no single.com.
OregonLive.com.
So why is Walmart closing?
Some are saying it's because Walmart's not having a lot of business.
Some are saying because they're being robbed and they're like, there's no profit in it.
So why is it getting so much attention?
They're going back and forth.
Go a little lower to see the data on this one here.
Go a little lower.
So you see Texas Governor Abbott, who took aim at Portland over the issue, saying the closure is what happens when cities refuse to enforce the rule of law.
Exactly.
Portland, Oregon, out of all the cities.
It's not like it's Dallas, Texas.
And Walmart rarely ever closes stores.
I've never seen that.
Or Walmart to say we quit.
That says a lot about your city.
Whoever the mayor of Portland is, when you lose Walmart, that's like when you were the coach when LeBron or Michael or Kobe says, I'm leaving your team.
How the hell do you lose Walmart?
How do you lose LeBron?
It's like 600 jobs for your guys in your city.
Were they the same as New York and Cali where it's like under $1,000?
They don't give a shit.
They're not going to be able to.
California is lowering it from $1,000.
I believe Portland or California is lowering it from $1,000 to $450 to minimize.
But to Walmart, how many people leave with $450?
Yeah.
Don't shit.
You're taking the whole thing at TV.
Exactly.
What is the number?
Yeah, they lowered it from $1,000 to $450.
I can find the article here.
Anyway, let's go into this next story here.
Car debt piles up as more Americans struggle to make car payments.
Okay, we talked about this last time and it created a lot of buzz.
A rising number of Americans are struggling to keep up their car payments.
Hello.
Indicating financial stress amid high car prices and persistent inflation.
The percentage of auto borrowers who were at least 60 days behind on their bills rose 2% from December at 20.4% a year ago, while loan defaults increased 6.2% over January and were up 33.5% over a year ago.
Although the high level of severe delinquencies has not led to equivalent growth and defaults, reposition rates have climbed.
The number of repossessed cars increased 11% in 2022 compared to the previous year.
The rapid increase in auto loans rates to 6.9% in January, up from 4.3% a year ago.
That's a 50% increase, by the way, a little over a 50% increase.
And high car prices averaging nearly $50,000 have made it harder for Americans to make car payments with many monthly payments above.
What did we talk about last time?
$1,000.
Rising interest rates and high car prices threaten the auto industry.
Shoot more consumer defaults on their loans.
It's coming.
It's just a matter of time.
Go ahead, Tom.
It's basically here.
I mean, this is, we talk about upstream problems and downstream problems.
Downstream, as you look about a bunch of things.
Downstream, the pond is polluted, and the Democrats say, let's make a $1 billion filter and drop it into the lake.
Republicans say, let's go upstream and find out what the hell is in the river that's filling up the lake.
Well, this is an upstream, downstream problem.
Upstream, interest rates have been going up since March of 22.
That's when Powell first met the cheerleader.
And so now those are up.
And then we saw last week that the average car had gone from $40,000 to $50,000 on average price on a basic low-end, you know, good, solid, good mileage, good, safe, basic car with nice features.
And this is basically downstream.
It's coming home to roost.
The repossessed cars is up 11%, but the loan defaults have only come up 6%, but they're increasing.
This is accelerating.
And if inflation is not under control, this is going to get worse.
And as inflation comes down, unfortunately, you're going to see unemployment come up.
The people that are in that unemployment in a low line, it's going to come up.
So basically, let me translate this for you.
If you want to buy a car, you know, hang on for a few months because the price of used cars are going to come down because the supply of used cars has to go up with what's happening here.
Oh my God.
Go ahead, Adam.
Well, we talk a lot about how college is a scam.
You know, there's college outdated.
You know, the government got involved.
Student loans.
I mean, we can go on for days, the alternatives rather than going to college.
I would argue that the car industry and car loans and car debt is by far a greater scam than college.
People are still in the 1980s mindset that you need a car.
It's like, there are so many alternatives these days to driving yourself into debt.
I mean, look at the numbers.
Two out of three Americans are paycheck to paycheck.
Housing prices are skyrocketing.
Foods are inflation.
You know, you went to buy an egg the other day.
It was like $12 for a dozen.
Done.
The car situation.
I've been saying this for years.
Everyone knows.
I haven't had a car for over a decade.
What a sham.
Adam.
Yeah.
Go have a family, bro.
Hurry up.
Please hurry up and have kids.
Pat, can you imagine that?
And then you know what I'm saying?
And ironically, twist of fate, by the time that happens, I'll have a lot of money in the bank and I'll get whatever car I want.
Well, can you imagine that?
It's all good.
Adam, right now, with kids, like, kids, you want to go to Slacker Practice?
Hold on.
I got to get an Uber.
Yeah.
At that point, after I actually got one of those Florida rainstorms, it comes up in 30 seconds.
But I will give you a, obviously, as a single guy, you have a car.
It's easy to.
When you don't have a family, you don't have to discuss the seven things.
But for the people with families out there, I'll give a case example.
A guy was working.
He was like the handyman in my building where I lived in Miami.
He was struggling.
He didn't like where he lived.
He was living out in Kendall, which is like an outside of Miami.
He was driving.
Handyman.
What was his pronoun?
No, no.
He's just a regular old man.
Just curious.
And what he did was he said, you know what, these fucking car prices are insane.
I got two cars.
I got kids.
I got this.
I got that.
I said, you're living a house.
You're 45 minutes an hour from work because you're way outside of Miami.
I said, where do you want to be?
He's like, I'd love to live downtown.
What did he do?
He sold one of his cars.
Him and his wife and kid sold one of the cars, got it out of his life, moved downtown.
Now he lived five minutes from work.
He would just Uber to work.
Okay.
His wife had the car all day.
If they needed a car for the kid, they had it.
But the point is they figured it out.
They weren't like, well, we're a two-family, two-kid person, and now we have two cars.
That's just cookie cutter.
They realized that there's things they can do.
We saw them are all in Secret, dude.
I agree.
They did that for a long time.
Secret did that?
For a long time.
They did that with one car, both of them, and they crushed it.
And they had two kids.
So there's ways to do that.
But Adam, the day you have a family.
Triplets, and the content's going to change when you're talking on the podcast.
And you're going to say, Adam, how was your night?
Oh, not good.
Junior didn't let me sleep.
I'm on an hour and a half and you're complaining and grouchy.
That's when the content's going to get juicy.
I agree.
Yeah.
But we're not there yet.
We made an ad video yesterday.
You guys walked in.
I was making a video.
Both of you guys saw this thing.
This thing's going to be launched here soon for a very interesting ad video that we have to kind of release to people, but not right now.
So anyways, FY, real quick with Matt Walsh.
When Stephen Crowder was on, I said, you know, I made a comment about the fact that, hey, what I say, I said, what do we, there's levels to the game.
What do I need to do to be able to see future family emergencies happening from canceling?
I know I'm not at your level yet, Crowder.
I called him out and Matt Walsh and I said, Matt Walsh also did it because today is the International Woman's Day.
Yes.
And the guy who wrote and made the documentary, What is a Woman, we wanted him to come and teach us what a woman is.
That's why we did it on International Women's Day.
It was a very appropriate day.
And I said, hey, you know, Matt Walsh canceled as well last minute, et cetera, et cetera.
Anyways, his team reached out.
He texted me.
He communicated with me.
He is going through a, it's a private, he shared it with me.
I respect him for doing that, for him not to be here.
We're looking forward to having him on.
Hopefully, one of these days we'll have him on to have a conversation with him.
I think his work is very necessary.
I think what he did got a lot of people to ask questions.
And for parents who have girls, I think he did a major service to a lot of families to produce that documentary, What is a Woman?
It was one that he got a lot of hate for.
I respect him for it.
But this is my style of doing business.
For anybody that maybe in the future books us to be on a podcast and all of a sudden can't make it, call me before.
Just tell me, can I talk to Pat the host?
Pat, here's what's going on.
I don't want it to be bad.
Here's what's going to be happening.
I can't make it because that's what I would do to you.
100%.
If I cannot make it, that's what I'm asking for anybody in the future.
If they see it, if they hear it.
The same way I don't like onions.
Yes.
The same way I don't like the smell of onions or shaking hands when people smoke cigarettes.
This is one of my pit peeps.
Obviously, Tom knows nothing about this, but it is what it is.
By the way, if I could just say, just to your credit, I see your schedule.
You're flying.
You're in.
You're out.
Like, you're taking time out of your day.
By the way, this is what they don't know.
You know, I'm not supposed to be here today.
I know.
You're flying out of town.
I think that's not.
No, no, I'm not supposed to be here today because this is spring break.
Where am I going right after this?
You're going to the Bahamas, aren't they?
I got a flight in 30 minutes.
Your kids are playing on my desk.
I changed the schedule just because of Matt Walsh.
Dylan and Tico are right there right now by your desk.
They're playing on my desk.
I'm not supposed to be in town today.
I was only staying in town for Matt Walsh.
That's the part where when you're running an 80-hour week schedule, we're not doing this because we're doing this because we're running businesses as well.
But it is what it is.
Okay, I don't want to say that, but...
It's all good.
No, but your schedule is busy as hell.
I appreciate that.
I don't want to put that out there.
The scheduled version of Hangry.
All right.
So let's go through a couple different things here that we got to.
Let's go to what happened with this trending topic on Twitter, which is what?
It's Tucker Carlson is a liar.
It is trending right now on Twitter.
It keeps getting more and more and more.
So I'll read the story.
I'll show a clip from Kevin McCarthy.
I think I just texted it to you.
If you have it, please get that ready.
And then, Vinny, I'm going to come to you first because you look like you've been chomping.
I'm chomping.
You've been waiting for this one here.
So let's kind of go through it.
All right.
Tucker Carlson releases exclusive January 6th footage.
Says politicians, media light about SickNick, QAnon, Shaman, Shiman.
Tucker Carlson released this, pushed by, he says, and January 6th, 2021, Rice, that challenges various narratives, pushed by the Democratic Control House Select Committee on mainstream media.
The footage shows Trump supporters peacefully touring the building, contradicting the news coverage of January 6th that likened the event to 9-11 and the attacks on Pearl Harbor.
Capitol Police officers were seen escorting Jacob Chansley, the QAnon Shiman, around the building without incident.
Carlson reported that officers were seen showing Chansley around, even trying to open locked doors for him.
The footage also challenges the narrative that the events of January 6th were a deadly insurrection.
Officer Brian Sisnik was seen walking normally while guiding Trump supporters out of the building while wearing a helmet, which contradicts the media narrative that he died of a head injury.
So this is this.
Now, everyone's saying stuff about Tucker negatively.
I mean, Twitter blowing up.
I can't believe he said this.
I can't believe he said that.
Did you get the clip I sent you about what Kevin McCarthy said?
I don't have it.
Do you have it?
If you don't have it, let me just send it to you so you have it.
I texted it to myself.
If you go to, let me send this to you.
You have to see this.
While we're pulling this up, Vinny, why don't you give us your thoughts and then I'll go to Kevin McCarthy?
So, and I want to ask everybody, I want to ask you, Pat, Rob, all the, you know, everybody, everybody in chat, what was the reason for the January 6th situation?
And mind you, I call it a situation because it wasn't an insurrection.
Insurrection is a violent uprising against the government or authority.
Let me explain something.
For everybody that saw what's happening, especially with Tucker, it was none of that.
All right.
So, and when I asked why, Pat, why did the people go to the Capitol?
It's a rhetorical question.
Why'd they go?
Because those people that the election was stolen from them.
And my question is, Pat, is that such a far-fetched idea for them to think that the left would do something like that?
All right.
And you know what?
The answer is no, Pat.
They've lied, the left and the government.
They lied about Russia.
They lied about COVID.
They lied about vaccines.
They lied about Hunter Biden.
They lied about the border.
They lied about China.
The audacity to be like, how dare you guys question us?
It's like, bro, shut the hell up.
And then you have Schumer, it's left and right.
Schumer and Mitch McConnell, the alien going, hey, Fox, don't you dare show this.
Pat, why not?
Let us see the truth.
And you know the people that died, Pat?
It was the Ashley Babbitt was one of the ones that was murdered.
She was a United States Air Force veteran, Air Force veteran, unarmed.
She was shot and murdered by a capital police.
That's one.
And that Brian Sicknick, who was wearing a helmet, they said was killed with blunt flourish trauma, he had a stroke.
Okay.
So it wasn't what they tried to say that it was.
These people were there because you know what?
They don't believe the government.
And this is my thing.
I'm actually not proud, but impressed.
You know what?
When you have a problem and you think the government is effing with you, that's what you go to the government.
You don't burn down your city.
You don't kill your own people.
You don't burn down businesses in your town.
Like remember with the riots, people were burning down BLM, Antifa.
They burned down their own city.
If you have a problem with authority, go to the authority.
And from what I saw, Tom, that shaman was walking around, smiling, taking selfies, talking to people.
They had ropes, escorting people.
And what about walking slowly, and they would touch him on the shoulder to say, no, this way.
And they would open the door for him.
He was waiting at doors and they're like, hang on a second, open this for you.
And you're looking at it.
It says, wait a minute.
It's a tour.
Because he was wearing that headdress and the fur, the media used that as this is a psycho person.
This is part of the insurrection.
But the truth was, yeah, he was wearing a headdress with the fur, but he was walking around.
It looked like a guided tour field trip.
And Ray Epps, who Chrissy, one of our writers in here, wrote about it, Pat.
She said insurrection or Fed surrection or one of those things.
Everybody thought the guy was the FBI agent.
And in court, they showed his text.
You know what he told his nephew?
He goes, I orchestrated the protests at the Capitol.
He goes, I helped people get there.
That's that guy that was wearing the Trump hat and was yelling at people to go.
This is when we're going to go and we're going to attack the Capitol.
And why isn't that guy in jail?
If you give four years to the shaman guy that was on a tour of the Capitol, but Ray Epps, the guy that was inciting violence, and guess what?
I don't trust them.
So good for them.
They should have, you know what?
It shouldn't have happened on January 6th.
When they found out these people with Russian collusion was all a hoax with Hillary and the government lied, that's when they were late.
You guys should have gone there a year earlier, two years earlier, and gone and talked shit.
So I'm not for violence, but I'm for if you have a problem with the government, go talk to the fucking government.
Don't burn down your own city.
That's my point.
Tom, thoughts.
I'm just listening to this, and I'm, Danny, I thank you for your passion.
I mean, I was disappointed and shocked, and what came to my mind was they freaking lied to the public about this guy, and they railroaded him.
This guy is doing three years, actually.
And apparently, he's got a couple psychomedical issues, you know, and real issues.
And so this guy got railroaded.
All the footage that we see, now I understand why all the committee members didn't want Fox to put this up because it immediately shows that Capitol Police and the prosecution took this guy and put him in jail because he looked funny and was walking around with a headdress and it fit the narrative.
I was incredibly disappointed when I saw this yesterday.
Just like there he is.
Look, he's on a tour.
Where's the insurrection?
Where's him stop?
He's going to come back.
Yeah, and dude, the guy was on a freaking field trip that was roped off and guided around.
Like, yes, guess what?
There were some hooligans.
Every time you get hundreds of people together, look at this.
Look at the cops.
Two cops.
Two cops in the call.
Let them go in.
And they said that security detail in the orange vest.
Look at this.
Now he's going to walk through here.
Look, the cop behind him, where's the violence?
This guy, dude, you know how many people are in solitary confinement right now?
You know how many people are not going to see the light of day?
So let me show this.
Can you show me what Chuck Schumer's reaction was to this?
It's very different than what Vinny said.
I just texted it to you.
If you can play Chuck Schumer's reaction, here's Schumer's reaction.
These lies continue tonight.
Rupert Murdoch, who has admitted they were lies and said he regretted it, has a special obligation to stop Tucker Carlson from going on tonight now that he's seen how he has perverted and slimed the truth and from letting him go on again and again and again.
Not because their views deserve such opprobrium, but because our democracy depends on it.
There's lies.
Let me go.
Let me get this.
Our democracy depends on Tucker not showing this.
Let me explain something to you.
The threat of the future.
Yeah, maybe it does.
Maybe there's going to be a real insurrection when the people see what's happening.
Tom, here's my question.
What is wrong, Pat, with just let me see?
I guess the 40,000 hours, they picked just those type of moments.
What are you so scared of?
What is the fear in letting me see what's happening?
It's like the Zapruder frame.
Well, they're like, out of everybody, one guy recorded it.
The government was like, no, no, they tried not to show it.
Let me see it so I can make my own decision.
I don't need Chuck Schumer.
I don't need Mitch McConnell to tell me what I can and what I can't see.
Can you play Kevin McCarthy's video?
Can you play Kevin McCarthy, what his reaction was?
Because of the footage that you gave Tucker Carlson last night, he went out and said this was a mostly peaceful chaos.
As he said, he downplayed Brian Sicknick's death, said it was not related to January 6th, said this was not an insurrection.
Do you regret giving him this footage so he could whitewash the events on that day?
No, I said at the very beginning, transparency.
And so what I wanted to produce for everybody is exactly what I said, that people could actually look at it and see what's going on.
Good for you.
Good for you.
Mr. Speaker, Mr. Speaker, look, each person come up with their own conclusion.
What I could make sure is I had transparency.
Because I know in CNN, I mean, I had here where you guys actually broke where we were.
This was a secret location for.
I don't know if you got concerned by that.
I don't even know from a point of view of security if we could ever be taken there again.
But when you broke that in CNN, that was a real concern to a lot of people.
I had a real concern also when I wanted to make sure transparency.
Look, the officer's death is tragic.
Anytime an officer is passed in this situation, I want to make sure they're protected.
I want to make sure the transparency goes forward.
Speaking of factors, was this in any way part of the deal that you made to win the speakership?
Do you give the content to the title?
No, the answer is no.
And if you follow, I'm not sure if you were there the times before.
I got asked the question in a press what I would do.
In the process, I've watched on January 6th committee how it was overpolitically.
How on the January 6th committee, you couldn't open the minority side, you wasn't allowed to put people on.
And I just thought it was fair if someone asked me the question.
Just transparency.
So, what I tried to do is be able to release the information, which we'll do to everybody.
It's good.
I worked.
Like, I mean, Pat, you know what that is?
You know why the left is so pissed off?
It's like, how dare you change our narrative that we've been sitting on to try to get Trump not to run again?
That's exactly what the hell you're seeing.
And good for him.
I don't give a damn about what deal he did.
That's ballsy.
And I love the fact that Pat had an article right in front of your face, CNN giving our location because you guys wanted us to get hurt.
So kiss my ass.
Adam.
All right, Vinny, thank you for your passion.
We appreciate that.
Yeah.
I actually spent a lot of time watching Tucker last night, watching Hannity last night.
I was watching CNN last night, just to kind of see different perspectives here.
And what is clearer than ever is that both sides are just going to just deliver news that just feeds their base to just drive their narrative, both sides.
We all know how easy it is to edit things.
And that's not a political statement.
So whatever Tucker shows on his show can be edited.
Same thing goes for CNN.
So I think January 6th, from an overall standpoint, was a very sad and disgusting day in a stain on America.
With that being said, I think the majority of people there were just generally there to protest.
The shaman and whatever clowns broke into the Capitol, they should be held to the highest extent of the law, period.
And if they're in jail for two years, three years, two months, whatever it is, it's deserved, period.
What I'm finding interesting now is that you can say the January 6th committee, sham.
Nobody on there, Lich Cheney, Adam Kinzinger, a bunch of Democrats.
People are losing trust in what the government is.
And each media narrative, each side of the narrative, is just going to basically say what people want to say.
So I believe, and I'm just going to use Tucker's words, Tucker doesn't like Trump behind closed doors, but he loves his base.
So he's trying to thread the needle of genuinely appeasing the base, but at the same time, distancing himself from Trump.
His words, you're seeing what's going on with this whole Dominion lawsuit.
Like, let's not forget that Fox is going to be dealing with some shit with this Dominion lawsuit and Murdoch and everything they said.
And essentially, they knew that Trump lost the election, but they kept perpetuating the story.
Carlson, his words, passionately hates Trump.
Okay, in a number of text messages in November 2020, Carlson said that Trump's decision to snub Joe Biden's inauguration was quote unquote so destructive.
Tucker Carlson added that Trump's post-election behavior was quote unquote disgusting and that he was trying to look away from Trump.
In another text in a conversation two days before the January 6th attack, Tucker Carlson said, We are very, very close to being able to ignore Trump on most nights.
I truly can't wait.
These are Tucker's texts.
Last but not least, Tucker added, I hate him passionately.
Okay, I actually didn't know this about Tucker.
I actually thought that he genuinely liked Trump.
But again, I think Trump, there it is right there.
I hate him passionately.
These are Tucker Carlson's words.
Don't believe Saw's over here?
Look it up yourself.
Okay, he can't wait for Trump to be out there.
But who he does respect and he does appreciate in Trump's base.
So Tucker's trying to thread the needle, distancing himself from Trump, and at the same time appeasing the base.
And that's exactly what Fox seems to be doing at this point.
So Adam, so January 6th, you're saying one of the most disgusting, you're not on the AOC and Alcamal and all them saying it was compared to 9-11 and Pearl Harbor.
Hold on.
Because I want to make sure I definitely got to.
You don't think it was where thousands and thousands of people died and burned and jumped off of buildings.
It's took.
I hope you're not trying to say because it was disgusting in your eyes.
It was nowhere near that because that's what they're saying.
So what's your question?
So my question is, I can care less about the Tucker text and all that stuff.
We're going, I don't care about editing.
You're seeing, you just saw, because you could watch all these videos.
It wasn't what they said, an insurrection of trying to take over, whatever.
People were just walking around.
And hold on.
I'm trying to get to your question.
So who died?
Like, what was the.
Are you asking, do I think January 6th is equal to 9-11?
Is that your question?
No, I'm just saying, you think it was disgusting.
Why do you think it was so disgusting?
Because people thought that it was.
That's your question.
Was it going too much to go there and just protest?
And a couple of assholes got out of line?
That's what it was.
Are you mad about that?
Okay, so let's go.
Hang on, hang on.
So let me go through some of the questions.
So do you compare January 6th to 9-11 on Pearl Harbor?
Not even close.
Okay, no, he's not there, just so you know.
No, no, no, no.
Thousands of people died in these fucking things.
It's not even close.
Let's go to the same.
Okay, go ahead.
Sorry.
At the same time, finish your point.
Go ahead.
Yeah, I mean, at the same time, it wasn't a proud moment in American history.
These are people that should not have been in the Capitol.
Again, if you want to go and protest and you want to be out there waving flags, God bless you, do it.
America, do everything.
But let's stop pretending that these people were up to no good.
Okay?
Like, this guy, the shaman, should have not been in the Capitol that day.
Why was he in there?
None of these guys should have been in there.
Adam.
Adam.
Okay.
So the opposite argument to that would be during the BLM protests, how many people died?
20 to 30.
I think more than that.
What have we heard about it?
You're right.
Yeah.
Two things can be true.
No, but January 6th was disgusting, and those protests are disgusting.
No, it's the dose of the protest.
But that's my point.
That's what I'm saying.
I get that.
But your point can be your opinion, but it's not the truth.
Because you have to give it to data, meaning.
Do you know how I said earlier the four-day work week, you have to have a definition of success?
Let's define success.
Define, give me a specific definition of which crisis was bigger based on data, not opinion, data.
Comparing three different crises, if we have, how do we define which crisis is worse than the other based on what data?
We have deaths.
Hang on, hang on.
I'm asking.
No, I'm not asking you guys.
I'm asking him.
I'm sorry.
I'll answer any question you ask, but I don't feel like they even need to be compared.
They're both shitty situations.
But that's not how life works.
Okay.
Listen.
But that's no.
January 6th can be a disgusting thing, and the protest could also be a disgusting thing.
That's not the question, though.
That's not the question, though.
The question is the following.
I'm going to ask the question one more time.
It's a very logical question.
There's no emotion behind this thing here.
Okay.
When people compare LeBron and Michael and Kobe, okay?
Statistically, where does the argument win for LeBron?
Where does the argument lose for Kobe?
Where does the argument lose for MJ?
So I'll give you mine.
Kobe's field goal percentage was the lowest.
It's terrible.
Okay.
Kobe's field goal percentage is not good.
To me, he is a good top five best player of all time.
I don't put him as a number one or two or three or four, but I have him in top five.
That's my opinion based on data.
Field goal percentage takes a hit.
Okay.
LeBron James, the greatest human specimen in the history of the league ever, ever.
Did he make the NBA product better or worse like Michael made?
I don't know.
What did he do to the league?
The career in the, what do you call it, finals is what?
He's four and what?
What's his record?
Four and six?
Some record like that in the finals, right?
Okay.
But statistically, most points ever, most assist, more rebounds than any of those guys.
Field goal percentage, over 50%.
Better three-point shooter.
Pa-pa-pa-pa-pa-pa-pa-pa-pa.
Great, right?
Michael Jordan, 6-0.
All-defensive player of the year, defensive player of the year.
I mean, I can give you a bunch of different things with him.
He played 82 games in a season, I think, 10 times or 8 times in his career.
His last year, when he played, he played 82 games.
I don't know if LeBron's ever played 82 games in a year.
Maybe one, okay?
Those are data.
I'm asking data again.
Question from you again.
What specific data makes a crisis worse than the other?
Data.
Deaths.
Okay, good.
I agree.
Okay.
What else?
Damage to the city.
Property.
Property damage.
Okay.
What else can we do?
We're coming up.
I didn't know.
So death is one, property damage.
What else?
Death, property damage.
Would you add anything else or those two?
I would add to casualties.
So death and injured people, people that were absolutely injured.
So I would call it casualties.
But yes, I agree with property.
I mean, those are how much it affects democracy.
How much it affects democracy.
That was like a political.
What does that mean, though?
He's trying to get hit.
No, but no, no, but hang on.
If we go based on data, if we go based on data, the BLM riots and what they did supersedes January 6th in death 25, 30 to 1.
Yes.
Damage to the city.
It's not 20 to 1.
It's a million to 1.
Because the insurrection wasn't any damage to the local businesses or anything.
Nothing.
The damage in BLM protests, riots in the streets, fires, local businesses getting hit.
It's not a thousand to one.
It's more like, to be honest with you, it could be a billion to one.
It could be 10 billion to one.
The damage to the local business owners.
This is data.
So for one to be more fanatical to pin one being bigger than the other, that is propaganda.
That is manipulative.
That is deceptive.
That's the part, the two.
In regards to Tucker not liking Trump, I'm not surprised that Tucker doesn't like Trump.
I'm not surprised that you think it's like saying, does Anderson Cooper love Joe Biden?
Are you kidding me?
Hell no.
Do you think they like Joe Biden?
No.
You think any of these left people, you think Rachel Matter goes to sleep saying, oh my God, I can't wait to correct the way that my picture of Joe Biden is in my office when I walk in.
No, they don't like Joe Biden.
They can't stand here.
For every one text of Tucker Carlson saying, I hate Trump, there's thousands of texts on the other side saying, let's get this freaking whatever, whatever leader out of here, Biden, because he's making it horrible for us.
Let's set that part aside.
They have opinions about each other, and Trump's not one that Tucker likes.
Fine.
All I'm saying here is this was overly promoted by people calling this worse than 9-11 terrorists, all this stuff to put fear into people and divide America.
And they won.
They did.
And they wanted to push this guy out, Trump, to make sure he never could run again.
Those are fanatical things to be saying.
Okay.
Fanatical things to be saying.
That's all I'm saying here.
I'll give you the final thoughts.
We'll go to the last topic here.
Everything you said is accurate.
No doubt.
Here's where I would like to at least draw a line between your argument and my argument.
If you're going to compare the riots or everything that happened during COVID, I think it's unfair to compare them to what happened in January 6th.
And I'll tell you why.
Compare those riots to the LA riots in the 90s.
Compare those riots to what happened in Ferguson, Missouri.
And January 6th, different situation.
Compare that to what we just saw happen in Brazil.
Compare that to what we just saw in that coup attempt in Turkey five, six years ago with Erdogan.
To me, those are the comparisons.
The, well, you did this, so you did this.
That to me is an unfair.
This is my opinion.
Okay.
And you could have it.
Yeah, it's fine.
And to me, that's where I'm comparing it.
And then, and Pat, because I know you want to say something.
What was the worst?
But wait.
No, no.
But you can't say that.
Let me, you can say that, but that just because you said doesn't make it right.
Okay.
If you're committing crime, robbing store, running out with Louis Vuitton and all these other bags and nobody's doing shit to you, this guy's going to be in jail for four years.
That's a life-changing thing for this individual.
He's going to be there for four years.
How many of those guys got away with it?
What are they doing to them?
It's okay.
You're right on that.
But that's where you, you know, like, for example, when crimes, when laws come out, let's just say we're starting a country, you and I, okay?
And we're sitting there saying, let's, hey, guys, Tom, can we get a board and let's get a paper and pen?
Let's write the crimes on the board here.
All right, rape.
How many years should rape get?
All right, pedophile.
How many years should he get?
All right, selling drugs.
Well, weed.
I don't know.
Well, how about if you smoke it?
That's fine.
How about if you distribute it?
What's the age?
Hey, how about cocaine?
Oh, cocaine.
How about fentanyl?
How this?
How about I'm selling Vicoden?
Boom.
And then we, how about you kill somebody?
How about you have a gun that's illegal underage?
How about if a 27-year-old is caught with a 16-year-old girl?
If you go through these things, what are we going to do?
We as leaders have to decide which crime is bigger, okay?
Which crime is bigger, okay?
Stealing from property, whatever, whatever.
Dude, you cause billions of dollars of damages to local businesses that are creating jobs for black communities, black communities, your own communities, BLM.
And you're saying this is worse than that?
Really?
Based on data?
No, there's levels to crime.
Here, one person, one is one too many.
Over there, 25, nearly 30.
The damage is not even close.
Yeah, there's ways to measure.
And it's easy to gaslight.
It's easy to confuse.
It's easy to say, no, how could you do that?
How dare you?
You're a racist, this, this, that.
Just because you call somebody racist, bigot, whatever, doesn't make your argument stronger.
I agree.
All it does is gets others to be like, oh, that guy's pretty emotional.
Gets the people that want to say he is.
You're right.
That's the true.
No, it's not.
Here's data, folks.
You effed up.
Okay?
So who's the bigger damage to America?
So don't sit here, you know, saying these guys are worst thing ever since 9-11 with Pearl Arbor, which is not you.
Not saying you said that.
A lot of the people we voted in said that.
They have to realize the comparison of those two with data.
Adam, catastrophic difference.
And Pat, and one of my points was the FBI, and that's why they were showing the Ray Eps guy.
If Adam, the FBI, was in there and had ground agents pushing people to go in because I saw the Ray Eps guy broke down the barrier with these people and made them go.
If the mind you, the same FBI that fucking lied to us, sorry about my language, about Russia and gave us a four year, a four year, dude, I lost friends.
I lost Russia inclusion.
That same lying Peter Strzok, Lisa Page, FBI, all these corrupt pieces of garbage.
Now they're on the ground telling people push.
No, inciting a riot, Pat.
You're going to jail.
How is Ray Epps still walking around?
But the goddamn guy that's wearing a ferret on his head that was walking around is going to jail for four years.
So if the FBI, by the way, FBI has been dropping the ball forever and they're involved doing shit like this, good for them, bro.
That's all I'm going to say.
That's it.
All right, cool.
By the way, this was good.
The audience gets to say, Pat, you have no clue what you're talking about.
Vinny, relax.
Or Adam, you're full of it.
Or one of us is right.
And Tom, do you know about Biz?
You get it?
Okay, if we had to do one last story, is there anyone you really have a strong opinion on to wrap up with?
Megan Kelly.
I'm sorry.
Kellyanne Conway single.
Is that the one you want to wrap up with?
I love her.
Kelly, I love you.
Do you want to do Cotton with Garden?
Do you want to do Hannity with DeSantis?
Do you want to do Kellyanne Conway?
I love you, Kelly.
Do you want to do Ford allows you to lock your car if you don't make your car payment?
They lock you out.
Do you want to do TikTok 60 Minutes?
Do you want to do AOC against?
Do you want to do Ramazwani Rips Trump?
Pick one of them, guys.
Do you want to do Joe Manchin Blasts Biden?
Pick a story.
JJ Reddick.
You want to do J.J. Reddick?
Do you really have to?
Really?
Let's hit it.
Are you serious?
Sure.
Play the clip of J.J. Reddick.
And here we go.
Plays the clip of J.J. Reddick if you got it.
Do you want to frame this?
This is a conversation.
Why don't you frame it?
Yes, please.
Go ahead and frame it.
I'm a big NBA fan, and anything NBA, I know a lot about.
Let's just put it that way.
Friends that play in the NBA, you are next.
So I can go head to toe with anybody that wants to talk about NBA.
J.J. Reddick, respect what the hell this guy just has done in his career.
6'4 white boy out of Duke, all-time Duke leading scorer.
He took Kendrick Perkins and Stephen A to task about some of their thoughts on biasness of race in an MVP race.
Can you play this clip?
Just make it bigger.
Pause it first.
Pause it first.
Okay, make it first.
And what did you tell Adam?
He basically said, who's the guy in the right perk?
Kendrick Perkins played for the self-tested.
And what did he say, Adam?
Oh, KC2.
I don't know.
Let's see what he said, but I know what JJ said.
It is an honor to be on this desk every day.
It really is.
But what we've just witnessed is the problem with this show, where we create narratives that do not exist in reality.
The implication, what you are implying, that the white voters that vote on NBA are racist.
They favor white people.
You just said that.
Yes, you did.
That is exactly what you implied, Kendrick Perkins.
That is exactly what you implied.
Secondly, hold on.
Hold on.
I did not call.
I stated the facts.
I stated the facts.
And you're not about to shit up.
We all know what you implied the other day.
We all know what you implied.
Perfect.
I stated at times.
It's the fact.
It's the facts.
It's the facts.
It is.
I think.
So basically, Adam, what Perkins was saying is that it's racist because it's a white guy.
Is this the third time that he's going to win?
Potentially.
He's the one too.
They're talking about Nicola Jokic, who's the center for Denver Nuggets.
And he was in the top three of the MVP race for the last three years.
He won it the last two years running, and he's averaging a triple-double this year.
And essentially, the storyline is that white voters prefer to vote for white MVPs over black players, black MVPs.
So, which to me, this is what J Day is like.
J.J. Reddick is basically like, dude, you're ridiculous.
And even, you've said what Charles Barkley had to say?
Charles Barkley went in on Kendrick Perkins.
He says, you suffer from ESPN disease.
Okay.
He says, basically, you know what the hell you're talking about.
You're all caught up in this.
You know how many white MVPs there have been in the last 30 years?
How many?
Okay, I think Steve Nash won it twice.
Jokic has now won it twice, possibly a third time.
And I think you got to go back to fucking like the late Ps. Larry Bird.
Larry Bird.
Okay.
Since then, Kevin Durant, James Harden, LeBron, K.J. Harden, Russell Restbrook, Giannis, like the list goes on and on.
So, you know, 10% of the time, a white guy wins the EPA.
By the way, here's what people have to realize.
I don't think people realize J.J. Reddick is not a Republican.
No, he's not.
J.J. Reddick is not a Trump guy.
J.J. Reddick trashed Trump just a few years ago, talking about the fact that waking up in the morning and having breakfast, you should wake up in the morning, have breakfast, and criticize Trump because that's the right thing to do.
Like, JJ is not in this, it looks like, well, yeah, you know, he's a Republican, he's conservative, he's this.
No, all he's saying is, dude, what the hell are you doing here, man?
Like, and by the way, if Kendrick Perkins wants to play the racist game, why is the NBA 70% black?
Tell me that.
Why is the NBA 70% black?
While America is 13% black, why is the NBA 70% black?
Why does the NBA not have enough whites?
While America is 22%, 23% Hispanic, why isn't the NBA have a lot of Jose playing in it?
Yeah, how come we don't have a Ricardo aguilar starting three guard for freaking LA Clippers?
How come we don't have that a lot?
That's racist, right?
No, his logic doesn't make any sense.
But by the way, you have to realize that to me, this is my opinion.
This is my opinion.
I go to ESPN to interview Stephen A. Smith.
I've been looking forward to interviewing Stephen A. Smith.
While we're going out there, he knows this is, you know, I've done Magic, Kobe, I've done a lot of different things.
ESPN comes up to me and they're like, look, I just finished my interview with Ray Dalio.
And they said, hey, Patrick, you can't talk to him about politics.
ESPN's asked you to cut the interview.
Wow.
I said, what do you mean?
I'm just going to ask what if he wants to talk about it.
Even if he does want to talk about it, we'll cut the interview.
So what are you talking about?
Yeah, we're going to cut the interview.
By the way, if you look at the set of my interview, you'll recognize the set.
Go on YouTube, type in Stephen A. Smith with Bed David.
You have to see this.
They won't even let you talk anything.
When you see our set, you're going to know where this set is.
Just look at the set.
Okay.
Look at the set.
Look at the set.
Click on it.
I won't flag it.
Come on.
You know what set that is?
You see Muhammad Ali in the back?
That's the ESPN set.
Go up or you're showing both of us together like we're all sitting that pause right there.
Yeah.
You know that set.
Yeah.
That's the ESPN set.
There's ESPN guys right on this side looking at me saying you can't talk about that.
Wow.
And I'm about to go into it.
You can't talk about that.
And Mario's like, Pat, I don't know what to do.
Mario's trying to tell the guy.
Let him ask the question.
He couldn't talk.
Well, anyway, Stephen A started talking about politics.
I think Stephen A is in a tough place.
And the tough place I think he's in right now, he has sometimes in life when your philosophies outgrow your peers and you become clear about your philosophies, but you're still in a community where your peers haven't outgrown those philosophies of victimhood, all this other stuff.
You sit there privately and you have to make a decision.
And the decision is this.
Man, do I compromise all my friends and the community I'm a part of to stand up for what I now believe in?
Or do I keep these relationships?
What do I do?
And I think a lot of people, believe it or not, they compromise and they don't want to lose those relationships.
It's not an easy place to be because you immediately become lonely.
You immediately go from getting 79,000 likes on Instagram posts to 13,000 likes.
You immediately go from getting 693,000 views on a first day clip to 173,000 views.
And that's a scary thought.
And ESPN right now is getting killed.
Clay Travis is saying that these guys are going to go out of business in no time.
I don't know if that's going to happen.
I think they're going to let go of a lot of their lower-level talent.
I think that could possibly happen.
And if you think about the companies that Disney's willing to sell, this is definitely one of them.
Yeah, I was just going to say, who owns ESPN?
Disney?
They're willing to sell it.
Actually, they're shopping it.
Yeah, exactly.
Quietly, that's how they divided the companies into three different categories so they can one by one sell them.
Okay, so exactly.
Bobbiker's a genius.
So they want to sell ESPN because they've already seen a writing on the wall.
But, you know, here's a crazy question for you: What's the opposite side of ESPN?
What is the ESPN competitor?
Fox News sports.
We don't know about that.
Like Barstool.
I don't know.
I don't know.
You will never, ever watch.
Like, I still till today will watch ESPN news.
I don't know if I've watched any Fox News sports back in the days I used to when it was good.
I don't know if I've watched a Fox News sport.
No, it's one of the few monoliths, ESPN.
ESPN sports.
ESPN military packets.
ESPN is 10 national channels.
FYI.
There's nothing like that.
FYI, FYI.
We're not going to do it, but somebody ought to do it.
It's a wide open space for somebody to compete directly with ESPN.
I think there's a marketplace for it because for the fact that JJ Reddick just made a basic comment like that and that video got 15 million views, you know what it tells you?
There's 15 million people that would subscribe to your show if you had a conservative competitor to ESPN.
And it's not out there.
Big time.
No competitors.
Direct competitors, number one, Fox Awards.
I get that, but look how shitty it is.
Nobody watches Fox Awards.
What about ESPN, the Ocho?
Remember that?
Yeah, yeah.
Look at number two.
It's Star Sports.
Who the hell is Star Sports?
Keep going down the list.
Who the hell is Star Sports?
Nobody knows.
Sky Sports.
I'm sure NBC has got to be on this list.
NBC, okay, Ford, keep going.
Keep going.
Sony 10.
I've never heard of it.
Keep going.
Eurosport.
Okay, great.
You're not even an American.
Neo sport.
Now we're in another financial geography.
That's sport.
That's racist.
Animals sport.
Fucking racist.
Animals now.
I don't want to go there.
Now that's racist.
Adam's right.
Which bat.
Yes.
I'm going to get fired.
But to my point, just really fast, I know we have to go, but what do you guys think Kendrick Perkins's intention was to say something like that?
Is it to get eyeballs?
Is it to prove a point?
Why do you think he would say that?
When you know it's false, when he knows it's false, can I tell you what?
Please.
Go ahead.
I'll tell you what Charles Barkley had to say because that's a credible voice who speaks his mind.
Oh, yeah, he don't give a shit.
I don't know too many people that hate Charles Barkley these days.
No, he don't give like this.
Yeah.
So he says, argument between Reddick and Perkins apparently had been simmering for over a week.
And Barkley said that he was happy to see Reddick challenge Perkins on his opinion.
Quote unquote, this crossed the line.
JJ is the only person to challenge Perk last week, and I'm glad he did it.
Because when I heard it first, I said, man, that's got to be one of the stupidest things I had ever heard.
Barkley mentioned that race was such a touchy subject when he particularly bothered this about this argument.
He added that the MVP analysts often don't analyze MVP races properly because they don't consider a strictly regular season award.
So essentially, Barkley lavished praise on Jokic, the MVP candidate, again, and credit him for not chasing stats, something that he mentioned should be counted for the MVP stats.
This guy, black, white, European, gray, yellow, Asian.
I don't give a shit.
This guy, Jokic, is an MVP candidate and deserves all the praise and the acknowledgement he has received.
Barkley would know he was in a really heavy-duty MVP race with Michael Jordan.
And he won.
Damn right.
1992.
Look at that with the numbers, Adam.
Let's go, baby.
Let's go.
Yeah, I mean, it's sort of laughable.
But if you just look at the stats, Denver's number one in the league.
Jokic is the best player on that team.
He's averaging a triple-double.
Nobody's done that since Russell Westbrook, a black guy that won the league.
I think this is such a bullshit argument.
Now, if you want to talk about front offices being racist in the NBA, that's another topic that we can, that's a whole nother segment.
Oh, my God.
You want to finish it like that?
Come on, Adam.
This is freaking crazy.
He's going to get the money.
The tape guy is racist.
The guy that's wrapping your ankles.
That guy's the front office.
The general managers are talking about the owners.
That's another level.
Oh, here we go.
Paul, we're going to miss you.
Well, it's going to be great now.
I'm going to miss you guys as well.
But I tell you, this is so, we'll talk to audiences.
There's a group of PBD podcasters that'll say, man, I only want to see a home team.
I heard that.
You guys talk, Sheldon.
And there's those that want to see the interviews and people that come in.
But there's a different story when we're sitting here shooting the shit, having a home team type of conversation.
I love it.
We have a lot of fun doing that.
And we appreciate you for doing the same.
Gang, again, this will be the last one we are finalizing right now whether the event will be on the 6th, Thursday, April, or the 7th.
Once we finalize one of those two dates, you will get a text probably sometime this week to buy tickets.
The last one sold out within six hours.
If you do want to be on our next live, if you want to just go on Twitter and play the clip to show what the last one was like, even if it's just 10 seconds of it, if you go on my Twitter account just to show what it was like, the last PBD podcast, we had a great time.
Sat there, we did two hours of podcasts, and we did 30 minutes of questions with people going back and forth.
We laughed, we joked, we met each other, we took pictures, and then afterwards, those who were VIP came in the back.
We had cigars together.
We talked for another hour about politics, business, family, a bunch of different things.
And a bunch of, by the way, what's the craziest thing?
Out of all the people that showed up, we asked the question, how many guys run businesses?
Do you remember the number?
80%.
80%.
So if you want to be in a place to network with other guys and talk politics, business, all of that, and laugh, don't miss the next live that we're having.
Text award podcast to 310-340-1132.
Again, text the word podcast to 310-340-1132.
I'll put it here one more time: 310-340-1132.
Text the word podcast, and we will send the link.
It'll sell out immediately.
And I think this next one that we're doing, we're going to have a special guest with us on this next podcast because it falls on the weekend of the UFC.
Let's go.
So we'll do the podcast.
We may have a guest.
And then Friday, Saturday, I'm most likely going to the fight on Saturday.
