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Sept. 20, 2012 - Rush Limbaugh Program
34:39
September 20, 2012, Thursday, Hour #3
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Greetings, my good friends, and welcome back.
Great to have you here, Rush Limbaugh, executing a signed host duties flawlessly, meeting and surpassing all audience expectations on a daily basis.
Great to have you here.
Telephone number 800 28282 and the email address, Lrushpo at EIB that not dot com.
This is from the uh the Washington, D.C. CBS affiliate.
But it is uh I think what this just spells out one of the results from the latest Pew research study.
This is not good.
Uh Democrat voter enthusiasm way, way up all of a sudden.
In the swing states.
And the story from the Washington, D.C. CBS affiliate headline is only 15% of Democrats believe economic news is bad.
According to a recent study from the Pew Research Center, new data found that just 15% of Democrats believe that recent economic news is mostly poor.
A percentage that took a significant drop from the 31% of Democrats last month, who thought the economic news was mostly bad.
According to the study, the 15% clip is among the lowest percentages during Obama's nearly four years in office.
Meanwhile, nearly 60% of Republicans find that most of the economic news is bad.
Among independents, the percentage is 36% who think the economic news is bad, and both of these data sets remain virtually unchanged from a month ago.
So the, I mean, you can fool some of the people all the time, but the good news here is that the drive-bys are not fooling anybody but the fools.
They're not, I mean, they're not creating new fools, they're not converting people into fools.
All they're doing is preaching to the fools.
You believe only 15% of Democrats think the economy is in badge.
Why would you say that?
It would be if you didn't care.
If you didn't care what the state of the economy was, then you probably would think it's okay.
And I'd venture to say that there's a heck of a lot of Democrats who probably don't care.
Because they don't depend on the economy.
They depend on the government.
And the government's always there, regardless of what the state of the economy is.
No, I'm not just saying that to be provocative.
There's a huge partisan dividing this country issue by issue or category by category.
When you have put 85% of Democrats think the economy's fine.
What does it tell you about those people?
We are at depression era growth rates, uh, shrinkage rates, whatever you want to categorize it.
60% of Republicans think that most of the economic news is bad.
So there are 40% of Republicans who think it's okay.
Somebody sent me an email, I get during the break.
Rush.
Why would a president want to be photographed and seen with all of these rich people when he's supposed to represent the little guy?
You know, I thought that's an interesting question.
I wanted to think about that.
Off the top of your head, Snarly, why would what here's here's Obama.
We're in the midst of, I guess maybe Obama knows only 15% of Democrats think the economy's bad.
But let's just say, why would Obama did Michelle?
Why would they do all these vacations?
Why would they live the opulent lifestyle?
Why would they hang around ostentatiously highly consuming people, rich people wealthy with all the trappings, Jay-Z's 4040 club with that giant pyramid of champagne?
Why would Obama do this if he wants to be seen as a man of the little guy and a representative of the little guy?
Why would he do it?
Okay, uh Snurdley's answer is that the little guy likes reality celebrity shows.
I have a different theory.
That of course is far more devious and far more cynical than your theory.
If you are President Obama, and if you are going to make your bones on taxing the rich, if your entire reason for getting elected is to tax the rich and to focus on them, how unfair, and they're not paying their fair share.
What better could you do to illustrate it than hang around them amidst all their opulence?
Why, look at that.
Look at that.
You only have to point it out.
It speaks for itself.
Look at that house for Obama's.
Look at the cars there.
Why those he's right.
Those people aren't paying their fair share.
The rich aren't being hurt at all in any of it.
Look at that.
That's right.
Go nail them, Barack.
That's my take.
That's my take on it.
That's Hollywood, baby.
That's Jay-Z.
That's uh that's Green Ivy, the baby would.
No, not the Obamas.
Look at the Well, they see the opulence.
They could maybe not the rich in terms of the enemy.
But but it didn't have to be just the Hollywood people he's hanging around with.
It could be a lot of these fundraisers he goes to are at Sarah Jessica Parker's place or Anna Winters, it's uh certainly not the dregs.
Well, he's hanging out.
If you if you want to make the point that there are plenty of rich people with a lot of money who could afford to pay more, why not hang around and illustrate how they're living?
Have the cameras accompany you around, and there you go.
You've got you got Jay-Z and you got Beyoncé, you got the golden champagne bottles.
Understand they covered a few of them.
The whole pyramid was not available.
But the point that you want to make is if you're Obama, there's so much money out there, and these people aren't paying their fair share.
Now, Obama doesn't say this while he's with those people.
No mis this is pure optics.
This is just creating the impression or cementing in these people's minds the reality.
There's a lot of rich people, and they aren't paying their but even more than that, they can afford a tax increase on them.
I mean, to these people, higher taxes are nothing.
These rich people live alike, they blow their money like it'll never run out, so make it look like it will never run out.
In the midst of this economic downturn, show people who have endless money, huge houses, lots of cars.
And it's another way of countering the whole idea that the economy is in bad shape.
Well, it isn't for these people, it only is for these uh the Hoi Poloi, and guess who's looking out for them?
Barack Hussein Obama, mm-mm.
I think that's why he's doing it.
That and to raise money, of course.
No question.
I mean, he's out there doing it to raise money, but it's it's also the optics of this.
Okay, now the audio sound bites, this is a pretty good Bill Hammer uh this morning on Fox News Channel.
Uh titled the show, America's Newsroom, and he had the um Obama campaign press secretary on a guy named Ben LeBolt.
And Hemmer hammered the guy.
All this guy wants to talk about is Romney, and Hammer hammers the guy on Libya.
Question.
The administration now confirming that the deaths of four Americans last week in Benghazi came as a result of a terror attack on September 11th.
It was not a spontaneous protest, as the consulate has previously suggested.
How damaging is this to your campaign when it comes to perceptions of foreign policy and keeping Americans safe?
In terms of the situation in Libya, I'd refer you to the director of the National Counterterrorism Center's testimony uh yesterday, they're conducting an investigation right now to find out who perpetrated uh this violence and to bring them to justice.
Listen, uh Governor Romney uh weighed in before he had a full set of facts about a developing situation.
We're not going to do that.
The president isn't somebody who shoots first and aims later.
Whoa.
You hear how this Gordon pointed it out with Stephanie Cutter.
Ask him, look at you guys are really blowing in the Middle East.
I mean, you you got a situation here keeping Americans safe.
You may not be able to keep America safe.
You're blaming it on this video and so forth.
Look at Mitt Romney.
Look at Mitt Romney.
Romney weighed in.
You know the problem is Romney said the same thing Obama said, only said it first.
Romney ripped that statement that came out of the Cairo embassy.
Well, so did the regime later.
Obama and the boys walked back that statement, that pre-apology.
The difference is Romney looked presidential.
We can't have that.
Romney got nothing wrong in what he said.
And the problem for these guys is that Mitt Romney did look like the president.
And that's why they've got to cut it down.
And that's why they've got to stop it.
But Hemmer does what all journalists used to do.
He doesn't let him get away with this.
Hemmer said, look, the president has addressed the American people officially on one occasion in Rose Garden.
Will he address this again and clear up a story and it changes by the hour?
What he's saying, look, you guys and the president are saying that the video's responsible.
We now know that that wasn't the case at all.
Will the president have another meeting or appearance and straighten this out?
A career national security official shared with the American people the information that we have about this situation.
I understand that, but at this time, we're not going to engage in speculation like that.
Everybody watching this tends to.
Everybody watching this knows that President Obama is the commander in chief.
It's his job.
Will he address the American people and clear up these stories?
Well, listen, uh, the administration testified before Congress yesterday and shared the information that we have at this time.
Let's uh talk about what the contrast here is uh with the other side.
Governor Romney is somebody who hasn't outlined uh a foreign policy, hasn't outlined a plan for America's relations with any region of the world.
He hasn't outlined a plan to end the war in Afghanistan.
He didn't mention Al Qaeda.
Yeah.
So Rich Hemmer tries one more time.
So LeBoe doesn't care about anything but criticizing Romney, which is his job.
But Hemer is still doing in this interview what journalists used to do.
You had a dead U.S. ambassador, one of our leading members fighting this war overseas, a man of enormous respect, and he is gone.
That's right, and that's why the administration uh is engaged uh 24 hours a day in investigation right now to find out exactly who perpetrated that violence and the officials working around to catch up.
I want to move on.
I just want to be clear on this.
There is no plan right now for President Obama to tell the American people what happened.
The administration will constantly update uh the American people uh as soon as uh new information is known.
And what we know now is that Mitt Romney came out shot before he aimed.
He didn't know what he was talking about, he didn't look good saying it, and he didn't even talk about Al Qaeda.
One more before we go to the break.
Yesterday, CNN's newsroom, Wolf Blitzer, totally in the tank.
Wolf used to be a serious newsman.
Wolf did.
I have to Wolf used to be a serious newsman.
He just he's an Obama fanboy now.
He's uh he's got uh is it with the uh uh co-anchor at Ashley Banfield?
And it's in a situation room, and they're talking about Obama being a letterman.
And the uh secretly recorded video of Romney and Banfield says Joe Biden skirted this issue, said I'm gonna let Romney's take uh tape speak for itself.
But uh Wolf, did you feel like this was President Obama getting tough or not getting tough enough?
If is he leaving this for the super PAC?
You know, I think what's clear is that he really came across very smooth, very confident, very presidential in that interview with Letterman last night.
He was really at the top of this game.
In the scheme of things, you know, who's gonna get you more votes?
A meeting that could be tense with Prime Minister Benjamin Atanyo, or go on Letterman and come across as well as he did last night.
Uh I think the answer is pretty clear.
So it's all about votes, which we've always known, but here's Wolf admitting it.
It's not about statesmanship, it's Not about security in the region.
Who would you rather meet with to get votes?
Netanyahu?
Who can smoke you?
Or Letterman, the clueless dunce who's gonna let you have a run of the show so that you don't even have to say anything, and Wolf Blitcher thinks that you shine.
And Obama didn't say he just sat there and looked professorial.
Well, Dave, and uh even fist bumped Letterman once.
He didn't say anything.
Do you see the interview?
He didn't say anything.
He just ripped into the video and so forth, and he oh, he did say that he got tough with the the Muslims over there.
The Egyptian he told them that they have to protect our people.
He lay he read them, the riot act, yeah, right.
But here you have it, Wolf Blitzer.
What would you rather do to get votes, Ashley?
Uh go sit around with Netanyahu or uh go with Letterman.
No question Obama did the right thing.
Really?
Half my brain tied behind my back just to make it fair.
You know how old I am.
Well, yeah, I'm 61, but I'm a minute uh I am so old.
I remember when Letterman used to be funny, and it was presidents who were serious.
That's how old I am.
And now look at what's happened.
It's Letterman, the comedian, who used to be funny, who's now getting all serious on it.
And the president goes on as the comedian joke guest.
Who's next?
Timothy in uh Leland, North Carolina.
Great to have you on the program, Timothy.
Hello.
Hi, Rush.
Uh first off, I'm a huge fan, and it's just awesome to get to talk to you today.
Thank you, sir, very much.
But secondly, I I tuned in during lunch and I I heard the uh one of the audio sound bites where um uh one of the newswomen mentioned that uh you know the economy is getting close to bottoming out, you know, showing signs of uh recovery.
And um just analyzing that statement, uh it it is just extremely contradictory to me because for the economy uh to bottom out, that would mean that it is still trending downward.
So we're traveling on a downward path, and for it to be in a recovery, the economy need to trend upward from that, you know, from bottoming out.
So, you know, by saying that we're close to hitting the you know, bottoming out of the economy.
I I don't know how you could say we were ever in a recovery to begin with.
That's interesting.
These people have been saying that we've been in a recovery since 2009, and yet yesterday they just realized we're in a recovery.
It's it's just uh it was just unbelievable to me that you know.
Well, grab the grab sound by two.
Let's play again what you're talking about.
It's it's actually a montage, and this we have since learned.
This this uh the news people you're hearing here are reacting to an AP story today, which cites census data.
Timothy, census data from 2011 shows that people are moving, moving homes, moving out of parents out, and that's what means the economy's recovered.
That alone, that's it.
Less than one half of one percent of the population moved, and and the media that's it, the economy we're finally roaring now.
People are moving around out there, they're leaving their parents home, they're changing homes, they're moving around finding work.
Wow, that's that that's what they're reacting to, and this was the montage we put together.
They played it in the first hour, it's what he's reacting to.
Big headlines on the economy this morning.
Are we on the road to recovery?
There's great news out this morning on the economy.
Are we really turning a corner?
Great news.
It looks like this recovery really has legs.
The economic downturn may have bottomed out.
It was like machine gun fire of good economic reports.
We finally hit a bottom that you're seeing this recovery really take hold.
Breaking news into the newsroom, another sign the real estate market could be improving.
So Timothy, you're right on the say we're bottoming out three years after the recovery began.
And that's what that's what you've noticed.
Right.
So I mean, wouldn't we it I don't see how we could be recovering until we've bottomed out and continued on an upward path from there.
So yeah, that was just my take on it.
Well, do you think we are recovering?
No, absolutely not.
Uh I'm still have to work twelve hours a day just to get by, so I work about eighteen.
So I hear you.
Nobody believes that, but I do.
Anyway, Timothy, what do you do, by the way?
Uh I'm a civil engineer.
Civil engineer?
Yes, sir.
Yes, sir.
I I work for a contractor.
We build uh water and wastewater treatment plants.
That is uh that's tough.
You have to you have to be smart as a whip for that.
That's a lot of education to become a civil engineer.
That is where'd you go to school?
I went to school at the University of Cincinnati.
University of Cincinnati.
Yes, sir.
And how's the economy dealing with your business or where where you work?
Um well, uh tell you what, Rush, it was, you know, tough in the beginning.
We were bidding a lot of work with without success, but um, you know, with it with the true American spirit, you've got to adjust to it, and we've made adjustments and found a way to you know get around that, and now we're doing we're we're starting to do quite well.
So you lowered your bids on the front end, and then you added in the real costs when the job was done and they had no choice but then to pay you.
Correct.
Just kidding, don't answer that, just kidding.
I have a contractor, but uh uh the the true answer to that question would be, you know, we found better ways to do things because you know the the economy forces you to do that.
Right, you had to.
Exactly.
Okay, Timothy in uh in in Leland, North Carolina.
Thanks, uh thanks very much for the for the call.
All right, folks.
Um I got to take a brief time out.
There's not enough time right now to be fair with another caller, even if it was a creep.
Uh who wouldn't deserve much time.
Take the brief time out here at the bottom of the hour and come back before you know it and resume.
Little uh I don't know what the word is.
Melancholy today.
It's the last day that I will be able to use my Mofi.
My it's uh well, but then there aren't gonna be any new ones for a while.
Um I have to use my new iPhone naked for it could be two months.
Yeah.
No, they don't.
They gotta even even if there weren't a new adapter, there wouldn't be a new Mofi for a couple of months.
It's just the way it is, because it's a different form factor on the phone.
So this is the last day of my trusty Mofi, which uh doubles the battery life of the iPhone.
It goes away, it won't fit on a new one.
Not only will it not fit, doesn't have the right connector because they've redone the connector.
I got an email from Mofi.
I think I'm having a little funeral.
I got an email from Mofi uh saying when we have the new iPhone 5 Mofi, we'll send you an email, but they didn't say when they were gonna have it.
So um I'm gonna be joining the rest of the plebs of the phone plugged in all the time.
Keep it charged.
Actually, batteries better on the new one than the current one.
But it's a sentimental attachment, I have to the Mofi.
I I No, I don't have I don't buy cases.
I don't do that.
I buy Mofi, that's the case with the with the battery, but you know, I have Mofis haven't been born yet.
I still have Mofi's in their original packaging and have never been used, and now uh it's like they're gonna be aborted.
Unless you know, maybe maybe I will give this phone, you know, wipe it and then give the phone away to somebody and then the mofi can still be used.
Yeah.
Recycling.
Yes.
Recycling.
Oh.
Recycling.
Anyway, I've been thinking about the last day for my Mofi.
There's a part of me that wasn't gonna be upset if the iPhone 5 was late, because I would still be able to use the Mofi.
Yeah.
Yes, nerdly shouting, this phone better be here tomorrow.
Okay, uh Joshua in uh in New Smyrna, Florida.
It's great to have you on the EIB network.
Hello.
Uh Megadinos, Rush.
Uh, you know, I'm uh like you just said, I'm here in Florida.
We're not uh we're not seeing too much recovery in our small business, but you know, I'm what kind of business are you in, Joshua?
Uh it's uh it's a family entertainment center.
Family entertainment center, okay.
Go-karts, uh go-karts, batting cages, miniature golf.
Oh, okay, cool.
But Rush, you know, I'm I'm even more worried uh about something else.
Uh you talk about the impending fiscal clip quite a bit.
Um and I I wanted to know, I wanted your take.
Do you see a currency crisis occurring here in the United States as we continue the uh expansion of the money supply as we continue the explosion of uh of our of our national debt.
That's a toughie.
Here's the here's the the logical or the rational line of thinking.
If you're gonna have QE three, which is more printing of money, at some point there has to be a corrective action for that.
And that means there has to be a contraction of the money supply.
And when that happens, Joshua, is when interest rates could get volatile.
And if there is a significant uptake in interest rates after QE three.
This this whole QE3 thing is just designed to get Obama reelected.
It's designed to prevent the economic collapse on paper.
But it's designed to make it avoid, make it not happen while it could hurt Obama.
But when they have to contract the money supply, because it's somebody we're gonna have to, or else all kinds of problems, then you've got the the uptick in interest rates.
And it's possible that one of the places to look for guidance on this might in fact be Japan.
Japan just went for QE eight.
They're in their twentieth year of this.
Twentieth year of economic essential stagnation.
No growth, shrinkage, no prosperity, on the th they're on the verge of war with the ChICOM.
Um there it's it's it's not pretty.
Um I there are a lot of people that have the fear that you do that the the the currency crisis could however you define that rampant runaway inflation.
Uh the purpose of the Federal Reserve is to prevent exactly what they're creating.
That's what everybody's so upset about.
Their job is to prevent exactly what they're creating or potentially creating.
Yeah, exactly.
I I just uh you know, it it's it's a real fear for me, uh, you know, not only as a as uh, you know, working in a small family business, but you know, uh, you know, I I love this country.
And you know, I I I'm looking at, you know, I'm looking at uh a scary world that we live in.
Yeah, you and me both.
You and me both.
I w I wish more people saw it the way you do.
Well, and maybe they do and we just don't know about it.
But I really wish more people saw it the way you do.
I too love the country.
I love it dearly.
I I am hurt by what I see happening.
I s I I'm hurt genuinely hurt by what I see being done to it on purpose.
And I'm bothered that apparently so many millions of people don't see it, or if they do, don't care or don't think it's gonna affect them one way or the other for whatever uh reason.
And the the thing that bothers me most about it is is that the people who are getting hurt are the people like you.
You are continuing to keep your business open.
You're doing everything you can to keep it open and to pay your employees.
And you're playing by the old rules that we all grow up believing would would pay off in the end.
Industriousness, hard work, you know, playing it as uh as close to the straight narrow as you can, uh and and basically thinking that this in itself will be your own its own reward.
You find out that people like you, the Democrat Party, you pose the problem.
You're not paying your fair share here, uh, or or your in you you don't care about uh other people are not doing as well as you are, whatever.
It's really really frustrating.
And you know the country's got this major partisan divide over a number of issues like this.
And the way you're missing it sounds to me like you Don't want to take an easy way out, you want to get this all fixed.
Exactly, Rush.
I mean, we we need interest rates to go up.
And uh, I mean that's what Yeah, but see, not too fast and not too soon.
If that that's there's your currency crisis right there.
If it if these if interest rates spike dramatically, look at gas prices figures.
They're already through the roof and continuing to rise.
If you add massive inflation to it real quickly, uh you've got you're gonna have a consumer crisis where people won't be.
I I agree with that, but I think that you know Japan's still on their crisis because they're you're they're keeping that in the right.
Well, okay, so you are of the school.
You you're f you're of the school that they're artificially keeping interest rates way too low, and that this is ultimately the harm itself.
Um, well, they they are.
Yeah.
I mean, uh you know, we're all feeling inflation while they're telling us it's not here.
Yeah.
And it's uh, you know, it's it's just it's which of course will lead to stagflation.
Yeah, and hopefully not uh in the future hyperinflation, but um and then disinflation, and that's just as bad.
Well, Russia, uh you know, uh it's an it was an honor, an uh absolute honor to talk you.
You're you're a hero of mine.
I've been listening to you since I was a I wish I had a better answer for you.
I I really do.
I wish I had a better answer.
I I'm not there none of us are uh in control of money supply.
Eleven people are, basically one guy.
And his objective with it is is not what yours or mine would be right now.
His objective is political.
Right.
Disinflation is very disinflated, people think wow, that'd be great.
Here's here's the problem with disinflation.
Disinflation, the manifestation without getting into the uh Financial World legalese definition of it, the manifestation of disinflation or deflation is that people who manufacture a product cannot sell it for what it cost them, and so they shut down.
They it once they and and by the way, even if they could sell it for what it cost them, there's no reason to make it.
If there's no pri if if at the end of your 18 hour day where you've you've worked yourself to the bone and all you've done is made back exactly what it costs you to produce whatever it is you produce, why do it?
There has to be some profit.
Disinflation prevents profit.
You simply cannot sell what you produce or even your service that you provide for what it costs you.
That's that's what it's it's uh it's not the opposite of inflation in the sense that the currency becomes super super valuable.
It's also a function of worthlessness, but it has a a different uh uh set of circumstances attached to it.
It you just disinflation is depression, and businesses just give up and quit.
There's no reason to stay in business.
There's no reason to sell anything because you can't even make back what it cost you.
And that's what happens when disinflation sets in.
Anyway, Joshua, thanks for the call and your very nice words.
I really appreciate it.
Stand by audio sound by 26.
Barack Hussein Obama this afternoon is in Coral Gables, Florida.
There's a Univision show called Meet the Candidates.
And uh Obama's the guest.
And the co-host is Maria Elena Salinas.
She said, uh, Mr. President, we have reports the White House said today the attacks in Libya were a terror attack.
Do you have information that it was Iran or Al Qaeda was organizing the protest?
Now listen, what do we know?
We know it was a terror attack.
It was planned two to three days in advance.
We know it had nothing to do with the video.
We know that our ambassador was tortured now before he was killed.
You can see the pictures.
They've been posted.
I you don't want to.
He was he was more just dragged through the street.
This poor man was tortured horribly.
This the the reaction that this administration had to this is so insufficient.
But even now, even now, knowing what we know.
The White House, Jay Carney is agreed.
Everybody the video had nothing to do with this in Benghazi.
Here's Obama answering the Univision question.
Do you have any information about this attack?
Terror attack, Libya, Iran, Al Qaeda, who behind it?
We're still doing an investigation, and there are going to be different circumstances in different countries.
And so I don't want to speak to something until we have all the information.
What we do know is that the natural protests that uh arose because of the outrage over the video were used as an excuse by extremists to see if they can also directly harm U.S. interests.
Okay.
Well, we don't know yet.
And so we're going to uh continue to investigate this.
Uh we've insisted on and have received so far full cooperation from countries like Egypt and Libya and Tunisia.
This is this is this, I don't know, malpractice or what have you.
The video had nothing to do with this.
And he's not going to tell us what happened until after the investigation.
Yeah, we're still investigating.
We got crime scene tape up.
The FBI's over.
It's an investigation, so we can't discuss the investigation.
You never do.
We never do discuss criminal investigations.
We know that it was a video.
Um natural protest uh arose because of the outrage over the video.
It wasn't the video.
Our ambassador was tortured before he was murdered.
No leadership whatsoever.
I don't think Barack Obama is capable of leadership.
He's capable of Svengali type mesmerizing.
But he's not capable of leadership.
Was it Al-Qaeda?
Oh, we don't know.
We don't know.
They know exactly what went on.
They're just not going to tell anybody till after the election.
If then, and I'm telling you, this media montage we played of them going yuck-yuck over this economic recovery.
Wait till you I've already printed out stuff, show prep for tomorrow about economic news around the world.
Wait till you hear there's no recovery out there, much less here.
It's gonna come back and bite them in the kazoo.
Okay, now one of the stacks I have for tomorrow about the economy is the Chicoms.
The ChICOM economy is slowing down rapidly.
It's admittedly a tease.
I don't have time to go into it right now, but I've got it for tomorrow.
That's not good for us, folks.
And other international economies are slowing down as uh as well.
And Bernanke's not gonna be able to do anything about those to uh try to save Obama's skin.
Also, as the new study, air pollution from grilled hamburgers is worse than from trucks.
I kid you not, it's right.
I'll save that for tomorrow, too.
So we'll we'll see you tomorrow on the on the last day for my Mulfi.
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