0:00

Hey guys, welcome to another huge

0:02

episode of Trigger. Things are moving

0:04

as fast as ever, myself included.

0:06

Every day, the news is happening

0:08

so rapidly it can be hard

0:11

to even keep up, but that's

0:13

why we're here, to tell you

0:15

all you need to know and

0:17

break down all of the biggest

0:20

stories. And today we actually have

0:22

two first-time guests. First, we'll get

0:24

into all things. Doge, DOJ, Department

0:26

of Education, with former Chief of

0:28

Investigations for the Education Department,

0:30

and former Senior Council

0:33

at the Justice Department,

0:35

Paul Moore, will also

0:37

reveal even more explosive revelations

0:39

about how our universities are selling

0:41

out to adversaries like China. Then,

0:43

we'll have CEO of MBS Highway,

0:45

entrepreneur and housing expert Barry Habib

0:48

to give you an inside look

0:50

at the economy and what to

0:52

expect next. So make sure you

0:54

guys are liking, sharing, subscribing, so

0:57

you never miss one of these

0:59

major episodes. Remember, you can get

1:01

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check it out there. If your friends

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of the top headlines that will spotlight

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can get the mainstream news without the

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mainstream bias. And of course, support our

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out. And now, let's take a

2:25

look at the top headlines. Yesterday

2:27

Attorney General Pam Bondi announced that

2:29

D-O-J is filing a lawsuit against

2:32

the state of New York. Governor

2:34

Kathy Hochle and the State Attorney

2:37

General Leticia James for harboring illegal

2:39

aliens, protecting violent criminals, and defying

2:41

federal immigration law. Obviously, that's what's

2:44

happening. We've seen it. This is

2:46

nothing new. But finally, someone's doing

2:48

something about it. Here's a clip

2:51

from the announcement yesterday, where Attorney

2:53

General Bondi made it clear that

2:55

if you violate the laws, it

2:58

ain't going to work out so

3:00

well for you. And that's why

3:03

President Trump has directed this to-stop.

3:05

And if you don't comply with

3:07

federal law, we will hold you

3:10

accountable. We did it to Illinois.

3:12

Strike 1. Strike 2 is New

3:14

York. And if you are a

3:17

state not complying with federal law,

3:19

you're next. Get ready. And the

3:21

great men and women of law

3:24

enforcement are standing behind me today.

3:26

We have FBI DEA. DEA, ATF

3:29

agents. They put their lives on

3:31

the line every single day to

3:33

protect us. And what New York

3:36

has? They have green light laws,

3:38

meaning they're giving a green light

3:40

to any illegal alien in New

3:43

York where law enforcement officers cannot

3:45

check their identity if they pull

3:47

them over. Law enforcement officers do

3:50

not have access to their background.

3:52

And if these great men and

3:55

women pull over someone and don't

3:57

have access to their background, they

3:59

have no idea who they're dealing

4:02

with. And it puts their lives

4:04

on the line every single day.

4:06

Violent criminals, gang members. drug traffickers,

4:09

human smugglers will no longer terrorize

4:11

the American people. And that is

4:13

why we are here today. You

4:16

will be held accountable if you

4:18

do not follow federal law. It's

4:21

over, it ends, and we're coming

4:23

after you. And those remarks came

4:25

around the same time that we

4:28

learned that, yes, we were right

4:30

all along. As usual, every conspiracy

4:32

theory ends up being fact. It's

4:35

just a matter of how long

4:37

it takes to get there. FEMA

4:39

was in fact dishing out funds

4:42

to house illegal aliens. Even as

4:44

residents in North Carolina were being

4:46

left behind after the hurricane back

4:49

in October. Remember they got that

4:51

$700 check well. According to DHS,

4:54

$59 million was sent under Biden

4:56

to New York City. to put

4:58

illegals in luxury hotels while Americans

5:01

were suffering. $59 million for illegals,

5:03

if you lost your home, a

5:05

loved one, your business, in North

5:08

Carolina, you got like a $700

5:10

check. Okay, just so we're clear

5:12

where you stand relative to the

5:15

Democrat mentality and their prior administration.

5:17

Here's my father reacting to the

5:20

findings yesterday. Because this is a

5:22

massive fraud that's taken place and

5:24

then you have judges that are

5:27

activists and they sit there and

5:29

they say oh as an example

5:31

59 million dollars going to a

5:34

little small group in New York

5:36

City You get nothing going to

5:39

North Carolina that helped nothing they

5:41

say we don't have any money

5:43

because they've given it away on

5:46

the border But you have nothing

5:48

what they did to North Carolina

5:51

is a shame and then they

5:53

sent 59 to New York City

5:55

for a little a little bit

5:58

of nothing, what they've done, a

6:00

hotel that was not luxury, that's

6:02

getting luxury rates for migrants, where

6:05

they're making a fortune. and we

6:07

catch him we catch him and

6:10

but a judge says well even

6:12

though it may be a fraud

6:14

you have to send the money

6:17

in anyway send the money I

6:19

said wait a minute we have

6:21

money that shouldn't go because we

6:24

caught it before it was sent

6:26

out but they want the money

6:29

to go anyway and I think

6:31

you're gonna have a lot of

6:33

things to look at Pam I

6:36

really do what's going on with

6:38

this whole thing and this is

6:40

just one group Now under the

6:43

Trump DHS that 59 million has

6:45

been clawed back But we need

6:48

a full investigation into just what

6:50

possible criminal conduct occurred and who

6:52

all benefited from it It's of

6:55

course yet another reason why we

6:57

need Doge to root out all

7:00

of this corruption all of the

7:02

waste all of the fraud and

7:04

all of the abuse It's why

7:07

the Democrats are losing their mind.

7:09

Who wouldn't want to know what's

7:11

going on, unless, of course, you're

7:14

indirectly benefiting it from when you're

7:16

not supposed to? But rogue judges,

7:19

shockingly all Democrat appointees, in liberal

7:21

places, are doing everything they can

7:23

to try to stand in the

7:26

way. The judge who issued an

7:28

injunction to block the spending freeze,

7:30

Judge John McConnell Jr, is basically

7:33

a far-left activist. He's on tape

7:35

claiming that a middle-class white-privileged male

7:38

person needs to understand criminals who

7:40

are women, black, or transgender. Again,

7:42

I gotta put it all in

7:45

quotes so that doesn't get mixed

7:47

out and claims that the trans

7:50

community needs special sentencing treatment. Again,

7:52

like all things trans, they don't

7:54

want to be equal, they want

7:57

to be a lot more. Certainly

7:59

the activists. Don't believe me? Here's

8:01

the tape, folks. government actions when

8:04

you sentencing someone when we talk

8:06

about sentencing that you have to

8:09

take a moment and realize that

8:11

this you know middle class white

8:13

male privileged person needs to understand

8:16

the human being that comes before

8:18

us that maybe a woman and

8:20

maybe black maybe transgender may be

8:23

poor maybe rich maybe whatever may

8:25

may have experiences that aren't yours

8:28

and you have to you have

8:30

to walk in their shoes and

8:32

understand that the law applies to

8:35

them where they are and then

8:37

you have to apply the law

8:39

accordingly. So, um, now when issuing

8:42

the injunction, the judge did admit

8:44

that the administration has the right

8:47

to limit access to federal funds

8:49

on the basis of the applicable

8:51

authorizing statutes regulation and terms. I'm

8:54

shocked he believes any of the

8:56

law, which, you know, again, they've

8:59

been known to totally ignore, but

9:01

that sets the stage for further

9:03

litigation, maybe at the appellate. level

9:06

and maybe even at the Supreme

9:08

Court. The good news is on

9:10

the issue of the deferred resignation

9:13

program for federal workers, a different

9:15

federal judge yesterday did rule in

9:18

favor of the Trump administration clearing

9:20

the way to clean out the

9:22

rot in the federal bureaucracy, at

9:25

least for now. And if you're

9:27

wondering just how bad the waste

9:29

and inefficiency really is, just look

9:32

what Elon posted yesterday. Federal employee

9:34

retirements are processed using paper files

9:37

by hand in an old limestone

9:39

mine in Pennsylvania. Literally 700 mine

9:41

workers operate 230 feet underground to

9:44

process 10,000 applications per month, which

9:46

are stored in Manila envelopes and

9:49

cardboard boxes. The retirement process takes

9:51

multiple months. You can't

9:53

make it up. I mean they

9:55

don't want us mining anything else,

9:57

but you know we can use

10:00

it to store retirement paper and

10:02

possibly the most inefficient way imaginable,

10:04

that's obviously okay folks. But like

10:06

I've been saying, this is yet

10:08

another reason why we need Congress

10:10

to actually pass legislation to codify

10:13

some of these executive actions into

10:15

law. We don't have anti- Trump

10:17

federal judges doing everything. We can't

10:19

have that. They're doing everything in

10:21

their power to stand in the

10:24

way. We need to put it

10:26

into law and we need Congress

10:28

to help do that. and we

10:30

can fully clean house. And now

10:32

Doge is now setting its sights

10:34

on overhauling the Department

10:37

of Education. We spend more

10:39

per pupil than any other

10:41

country in the world, but

10:43

we're ranked 40th. Think of

10:46

that, America, like America, with

10:48

everything we've done. We're

10:50

40th in the world, spending

10:53

more per capita than any

10:55

other country. It's ridiculous. Here's

10:57

my father discussing. the next

10:59

steps from the Oval Office.

11:02

Look, the Department of Education is a

11:04

big con job. We're ranked, so they

11:06

rank the top 40 countries in the

11:08

world. We're ranked number 40th. But we're

11:11

ranked number one in one department costs

11:13

per pupil. So we spend more per

11:15

pupil than any other country in the

11:18

world. But we're ranked number 40. We've

11:20

been between 38 and 40. The last

11:22

time I looked at was 38. And

11:25

then I looked two days ago. It

11:27

came out the new list. It came

11:29

out at number 40. So we're ranked

11:32

40. Norway, Denmark, Sweden. I hate

11:34

to say it China. As big

11:36

as it is, it's ranked in

11:38

the top five. And that's our

11:40

primary competitor. We're ranked number 40.

11:42

So if we're rank number 40,

11:45

that means something's really wrong, right?

11:47

And I say send it back

11:49

to Iowa, to Iowa, to Colorado,

11:51

send it back to places that

11:53

in a lot of Indiana, you

11:56

have a great new governor, you

11:58

have a great senator that... Jim

12:00

Banks just got elected, you got

12:02

great people. I'll tell you what,

12:04

Indiana's going to be fantastic. We

12:07

probably have 35, maybe 37 states

12:09

that will do as well as

12:11

Denmark, Norway, Finland, Sweden. They'll be

12:14

just as good. Then you have

12:16

the ones that we all know

12:18

about. It'll be the same story.

12:21

But you know what? Even they

12:23

will be good. Because you look

12:25

at New York, you give it

12:28

to Westchester County, you give it

12:30

to Long Island, you give it

12:32

to Nassau County, you give it

12:35

to Suffolk County. Same thing you

12:37

go out to, and you give

12:39

it to upstate New York. So

12:42

you have four or five sections.

12:44

You give it to Manhattan. Manhattan's

12:46

a little bit tougher. For some

12:48

reason, I don't know why it

12:51

would be tougher, but it is.

12:53

But generally, like if you go

12:55

to Iowa, you give it to

12:58

Iowa, you don't have subgroups, you

13:00

have Iowa and other places that

13:02

do a good job. If they

13:05

do a good job, they're going

13:07

to do a great job in

13:09

education. And meanwhile, yesterday, Tulsa Gabbard

13:12

was confirmed as the next director

13:14

of national intelligence, getting us one

13:16

more confirmation closer to getting the

13:19

cabinet that you all voted for

13:21

confirmed. But who did McConnell side

13:23

with? Uh, cocaine Mitch, who did

13:26

he side with? He sided with

13:28

the Democrats. He voted with them

13:30

as always, opposing yet another Trump

13:32

pick. This swamp runs deep, but

13:35

we're still winning bigger and better

13:37

anyway. I think when Mitch is

13:39

up in two years and he's

13:42

out of there, uh... Anyone he's

13:44

endorsing, you should probably vote against

13:46

Kentucky. No more of this crap

13:49

in the Senate. Enough is enough.

13:51

With Republicans like Mitch McConnell, you

13:53

might as well have Democrats. And

13:56

if you're wondering if the media

13:58

has learned anything... since January 20th?

14:00

The answer is clearly no. But

14:03

on CNN, Scott Jennings just keeps

14:05

delivering one reality check after another.

14:07

Check this out. That you have

14:09

these partisan hack Democrat attorney generals

14:12

they get together and the only

14:14

thing they know how to do

14:16

is try to nullify the results

14:19

of the last election by venue

14:21

shopping these district court judges They

14:23

find the most lunatic liberals they

14:26

can they file lawsuits knowing full

14:28

well They're going to try to

14:30

usurp the president's authority tie this

14:33

up in court for years. That

14:35

stuff is sacrosent, but you've got

14:37

people going in there who don't

14:40

know anything about it what you

14:42

just said is so profound. You

14:44

said these people don't know anything

14:47

and they don't know what they're

14:49

doing. That's right. But they're appointees,

14:51

but they are appointees of the

14:53

duly elected president. So your view,

14:56

you're here is our legal expert,

14:58

but your view is because you

15:00

don't personally believe they know enough

15:03

that the duly elected president who

15:05

appointed a treasury secretary and will

15:07

appoint special appointees like Elon Musk

15:10

shouldn't be able to act as

15:12

the president because... You don't personally

15:14

believe they know enough? Is that

15:17

how it works? No. Or do

15:19

elections mean anything? Well, it's got

15:21

nothing to do with elections. Of

15:24

course, the fact of the matter

15:26

is, the truth was true. And

15:28

perhaps the only ones more out

15:31

of touch than the media are

15:33

the Democrats themselves. Here's congressional Democrat,

15:35

John C. Lachowski, suggesting that the

15:37

word manufacturing, manufacturing folks is wait

15:40

for it. Drum

15:42

roll, manufacturing of a word

15:44

is sexist because it has

15:46

the word man in it.

15:49

Honestly guys, every time I

15:51

think the Democrats can't get

15:53

any more freaking... They do

15:55

this. And like I literally

15:57

have no words. It's literally

15:59

hard to believe how dumb

16:01

these people are. You know,

16:03

how many words do you

16:05

know? Can you come up

16:08

with the top of your

16:10

head that have ban in

16:12

it? Are we just gonna

16:14

ban all of those? Are

16:16

we gonna get rid of

16:18

any of the? I mean,

16:20

it's nuts. What about Manhattan?

16:22

I mean, you know, that's

16:25

a pretty liberal stronghold. Are

16:27

we going to change the

16:29

name of Manhattan? Because it

16:31

has the word man in

16:33

it. Does it mean that

16:35

there's no women in Manhattan,

16:37

you know, New York City?

16:39

I mean, I can't believe

16:42

this is real. But it

16:44

is. Yesterday, I met with

16:46

a manufacturing company, but they

16:48

also are engaged in getting

16:50

young people more engaged in

16:52

manufacturing. So I asked them,

16:54

so how many of those

16:56

students that are signing up

16:58

and want to do this,

17:01

how many are women? And

17:03

they said, well, I know

17:05

there's at least 13% or

17:07

something. It was a low

17:09

number. And you had mentioned

17:11

trying to engage more women

17:13

in manufacturing. I'm just wondering

17:15

if just the name manufacturing

17:18

sounds like a guy. Guys,

17:20

these are the same people

17:22

claiming your country is in

17:24

crisis because we want to

17:26

root out government waste. Think

17:28

about it. The geniuses that

17:30

gave you manufacturing is sexist

17:32

because it has the word

17:35

man in it. Want to

17:37

make sure we don't look

17:39

at government waste. We don't

17:41

do anything about it, and

17:43

we certainly can't expose it

17:45

to the American public. The

17:47

taxpayer. The people who pay

17:49

for everything, because that's not

17:51

a government funded program. There

17:54

are no government funded programs.

17:56

There are only taxpayer funded

17:58

programs, and they want to

18:00

make sure you don't know

18:02

where your money is going.

18:04

And lastly, guys, this week

18:06

we brought home yet another

18:08

American-held prisoner abroad. Mark Vogel

18:11

was a Pennsylvania teacher locked

18:13

up in a Russian prison

18:15

since 2021 for carrying medical

18:17

marijuana. His mother met my

18:19

father at a rally and

18:21

he promised he'd bring him

18:23

back home. Yet another promise

18:25

made and a promise kept.

18:32

Thank you. Guys, one more

18:35

thing to point out. Mark

18:37

Vogel, we didn't have to

18:39

trade the merchant of death

18:42

to get him back. We

18:44

just got him back because

18:46

strength and resolve in America

18:49

gets people to do things

18:51

that we want. That's how

18:53

it works. Remember when Biden

18:56

for Brittany Greiner, he had

18:58

to trade the merchant of

19:00

death, literally a terrorist arms

19:03

dealer who's apparently back in

19:05

action, probably using it against

19:07

either our Americans abroad, whatever

19:10

it may be. We just

19:12

got people back with strength

19:14

and resolve. Isn't it nice

19:17

to be strong again? Isn't

19:19

it nice to have America

19:21

first again? Don't forget to

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just like the name of

20:18

Well, I'm doing okay. Doing

20:20

okay. It's been a long

20:22

day. Red eyes and no

20:25

sleep and all of that,

20:27

but we gotta keep fighting,

20:29

keep working. So, you were

20:32

chief of investigations at the

20:34

education department. So you've seen

20:36

everything that Doge is talking

20:39

about right now up close

20:41

and personal. What do you

20:43

think stands out most to

20:46

you about how the Democrats

20:48

have weaponized that entire department

20:50

to the detriment of students?

20:53

Well, there's so many things.

20:55

It's, you know, where do

20:57

you begin? You know, the

21:00

first thing I would say

21:02

is, at my age, I

21:04

have to have a colonoscopy

21:07

every five years, and I

21:09

kind of speak about close

21:11

and personal. And they don't.

21:14

Yeah. And, you know, it

21:16

was 1982 when Ronald Reagan

21:18

had the Grace Commission look

21:21

into waste of federal agencies.

21:23

And he was actually the

21:25

first to kind of make

21:28

popular drain the swamp. And

21:30

so we got to do

21:32

it, folks. And nothing happened.

21:35

All that happened was slow

21:37

the rate of growth for

21:40

some of these agencies for

21:42

a few years. You know,

21:44

what's gone on? We've got

21:47

this department that's out of

21:49

control, but it's been on

21:51

the front line of using

21:54

the FBI and DOJ to

21:56

terrorize parents. to actually classify

21:58

them as domestic terrorists if

22:01

they dared speak up in

22:03

an unfortunate way to PTA

22:05

meeting, things like that. Oh

22:08

yeah, we talk about that

22:10

one all the time, it's

22:12

disgusting, yeah. No, it is.

22:14

They've redefined sex. You know,

22:16

they've given away $400 billion

22:18

in taxpayer money from hardworking

22:20

people to graduates who promise

22:22

to pay off their student

22:24

loans. You know, they've quit

22:26

investigating China's money at our universities, And

22:28

they, in my opinion, they've disqualified themselves

22:31

from continuing. I mean, if you have

22:33

a doctor that abuses their patients, you

22:35

say you can't practice medicine anymore. I

22:37

mean, that's really where we are. We

22:39

found out where this, where Cardona and

22:41

Biden were going to go in the

22:43

first, first year of the administration, December

22:45

2021. They had this thing called the

22:47

Civil Rights Data Collection. And so they

22:50

actually ordered that elementary schools and secondary

22:52

schools had to ask one of the

22:54

questions was, are you, are you male,

22:56

female or non- or non-binaryinary or non-binary?

22:58

You know, so you're asking kidney gardeners,

23:00

first graders, etc. If they're non-binary,

23:02

you're introducing the whole thing, you

23:05

know, it's the gender madness, we

23:07

can't start too early. And I'm

23:09

sure they start thinking about that

23:11

right now, just to create confusion

23:13

and already, you know, impressionable minds.

23:15

Yeah, totally. Also, you've got all

23:17

these teachers who, you know, really aren't

23:19

trained or equipped to be addressing that

23:21

matter. Some people might be old-fashioned say,

23:23

hey, that's the parents job. Uh, and

23:26

you know, let's just keep, keep the,

23:28

you know, education industry out of it,

23:30

but not this department. And they actually,

23:32

they required, I mean, you know, if

23:35

you're tiny town in Missouri, you've

23:37

got to where I'm from, you've got

23:39

to ask these questions. You have no

23:41

choice. If you don't, you're going to

23:43

lose your federal funding. And so, you

23:46

know, it's just, there's been such an

23:48

abuse of use of the illegal. And

23:50

they didn't rain themselves in, they should

23:52

have, and they need to go. And

23:54

beyond that, it's not like we're overperforming, right?

23:57

I mean, we spend more per capita on

23:59

it, you know. on students than any nation

24:01

in the world. And I believe we're

24:03

like 28th or 29th in education. I

24:05

mean, there's literally third world countries that

24:08

are educating their children for pennies on

24:10

the dollar relative to what we spend

24:12

and doing a better job of it

24:14

than we have. So it's not like

24:17

they're banking on any kind of actual

24:19

success, are that? No, they're not. And

24:21

I mean, we've got, you know, we're

24:23

in a situation, if money was the

24:26

solution, we would be number one, We're

24:28

now 40, a couple years ago, I

24:30

think last year actually, we were 38

24:32

out of 40. Now we're number 40

24:34

in terms of results. I mean, here's

24:37

the situation, we've got two-thirds of eighth

24:39

graders in Detroit can't read at a

24:41

basic level. 70% nationwide, fourth graders can't

24:43

read at a basic level. Baltimore, 71%

24:46

of eighth graders can't read a basic

24:48

level. They're basically illiterate. You can't read,

24:50

you can't learn. We're saying these kids

24:52

up for failure and actually it's the

24:55

worst in the solid blue cities run

24:57

by progressives. You would think they'd be

24:59

the ones saying, hey we gotta change

25:01

this, it's not working. But yeah, it's

25:03

so it's absolutely horrible, we need to

25:06

stop and back up and what are

25:08

we doing and stop what we're doing?

25:10

Well I know you've also testified on

25:12

Capitol Hill about how much our universities

25:15

have gotten away with in terms of

25:17

shady foreign donations from China. They've even

25:19

funded Chinese research that ends up being

25:21

used against against against us. How much,

25:24

you know, is it beyond elementary education?

25:26

How much are the colleges a part

25:28

of the whole story here? Well, you

25:30

have to think about higher ed colleges

25:33

and universities as big business. And so

25:35

we call them non-profits, they call themselves

25:37

non-profits, and they're kind of treated with

25:39

kid gloves, if at all. But in

25:41

fact, they're the ones who are running

25:44

the department education's policies that are supposed

25:46

to be regulating them. So we have

25:48

regulatory capture by the regulated industry, and

25:50

that's higher ed. international conglomerates. And so,

25:53

you know, where is Elizabeth Warren when

25:55

you need her to beat up on

25:57

a on a big business, right? She

25:59

ought to be beating up on these

26:02

international conglomerates that call themselves not. non-profits

26:04

get preferential tax treatment and are just

26:06

doing horrible things in this country. And

26:08

they've also, I mean, we're billions of

26:10

dollars they've accepted from China. You know,

26:13

UPenn is particularly famous for having received.

26:15

I think it was $61 million in

26:17

the run-up to Joe Biden becoming president.

26:19

Once he launched the UPenn Biden Center,

26:22

all of a sudden the money starts

26:24

rolling in. The person who the president

26:26

of UPenn was the one who was,

26:28

you know. out there rattling. I think

26:31

it was Amy Gutman at the time

26:33

because that's my alma mater so it's

26:35

sort of embarrassing to see what happened

26:37

there. Well it is right and of

26:40

course she was rewarded with becoming ambassador

26:42

to Germany and you know but I

26:44

mean you just and there were I

26:46

think I think 12 senior members of

26:48

the Biden administration that were working at

26:51

the Penn Biden Center and so they

26:53

were essentially on the payroll of the

26:55

CCP. You just can't make it up

26:57

but I mean you look at other

27:00

universities I mean Stanford Yale Harvard. hundreds

27:02

of millions of dollars from from these

27:04

universities to have something like 493 million

27:06

dollars in contracts. They've they finally decided

27:09

they're going to get out of some

27:11

of their Chinese operations. But you know

27:13

what we're doing is handing over our

27:15

research product to the Chinese who aren't

27:17

stupid. As your father often says, you

27:20

know, we're the ones. Yeah, there are

27:22

many things. They're not dumb. I'm not

27:24

saying they're good. That's not being an

27:26

apologist for them. But if you're playing

27:29

in a war game, they are playing

27:31

a much better game than us and

27:33

there's no question to me that they're

27:35

at war with us. Our Department of

27:38

Defense funded more than 2000 scientific research

27:40

collaborations with Chinese scientists who are working

27:42

on emerging technologies, hypersonic and fourth grade

27:44

generation nuclear weapons, artificial intelligence, semiconductors, advanced

27:47

lasers, high performance explosives, and rocket fuels.

27:49

I mean, this is our Department of

27:51

Defense. Our new secretary has his hands

27:53

full. And by the way, where was

27:55

the IG at the Department of Defense?

27:58

when this is happening. You know, this

28:00

is extraordinary. Same thing's happening with NASA.

28:02

NASA is prohibited from using any of

28:04

its funds in scientific collaborations with China,

28:07

Chinese universities, Chinese scientists. And yet there's

28:09

evidence that's happening at many of our

28:11

top universities around the country, research universities.

28:13

Incredible. So, you know, with all these

28:16

problems in the schools, given all of

28:18

what we're talking about now and, you

28:20

know, obviously there's so much more. Just

28:22

how far has this set back our

28:24

students at both the kind of K

28:27

through 12 level and as well as

28:29

the college level? I mean, I see

28:31

these elite universities, they're graduating all these

28:33

people with gender studies degrees, they're happy

28:36

to, you know, rack up $300,000 worth

28:38

of debt, but no possible way of

28:40

paying it back because there's no market

28:42

for that skill if it's even a

28:45

skill. And how much worse was it

28:47

made during the Biden administration with all

28:49

this stuff? You started talking about sort

28:51

of paying off the student debt, having

28:54

a plumber pay off, again, some PhD,

28:56

because the plumber is actually far better

28:58

off than the PhD, but the PhD

29:00

racked up probably half a million dollars

29:02

in debt. It seems like a huge

29:05

transfer of wealth from the alleged elite,

29:07

from the working class of America who

29:09

made better decisions and didn't make irresponsible

29:11

ones. Yeah, you're right. And I mean,

29:14

the, I think the problem goes really

29:16

deep because we're not just looking at

29:18

reversing four years of Biden. We're looking

29:20

at the eight years of Obama. That's

29:23

when all this really started and was

29:25

serious. So during Trump 45, we put

29:27

the brakes on it. And it took

29:29

the brakes on it. So during Trump

29:31

45, we put the brakes on it.

29:34

And it took the brakes on it.

29:36

And it took the brakes on it.

29:38

And it was serious. So during Trump

29:40

45, we put the brakes on we

29:43

put the brakes on. You know. You

29:45

know. And that's what's happened. But I

29:47

mean, you really, I mean, these students

29:49

who are graduating in their 20s and

29:52

later with worthless degrees, advanced degrees from

29:54

these, you know, paper mills that produce

29:56

diplomas, no wonder they're resentful, no wonder

29:58

they're angry. No wonder they're on drugs.

30:01

I mean, they have a right to

30:03

be angry. You know, the system is

30:05

failing them. They're getting these worthless degrees

30:07

supported. And then they owe all this

30:09

money, hundreds of thousands of dollars. It's

30:12

like, of course, they're radicalized. And so

30:14

we're, you know, we really top to

30:16

bottom, we've got to reexamine the system

30:18

and what we're doing, because it's not

30:21

education. We need, you know, the other

30:23

thing too is their program participation agreements,

30:25

federal student loan money and grants for

30:27

their students, even private universities, they've got

30:30

to enter into these program participation agreements.

30:32

And that's that's the tool that the

30:34

department education has, even if it's in

30:36

its limited lifetime expectancy to yank that

30:38

spring and say, you're doing things that

30:41

are wrong, stop doing this, stop teaching

30:43

that, stop, you know, indoctrinating and all

30:45

the gender madness. So I mean, you

30:47

know, there's a great opportunity using this

30:50

program participation agreements to immediately. reach deep

30:52

down, you know, because the tentacles of

30:54

the Department of Education doing its kind

30:56

of evil over the last few years,

30:59

they're really deep. And one other thing

31:01

I should point out, there are only

31:03

4,400 employees that still a lot with

31:05

the Department of Education, but the Department

31:08

of Education actually funds about 48,000 employees,

31:10

state employees, they're being funded by money

31:12

from the Department of Education, you know,

31:14

they're kind of shock troops out there

31:16

in a lot of cases carrying out

31:19

the same programs. You need to go

31:21

deep into those folks, figure out who

31:23

they are, what they're doing, you know,

31:25

really cut off that money or open

31:28

it up so it's examined by their

31:30

states. So, you know, it seems like

31:32

obviously you're of the opinion of the

31:34

Department of Education should be abolished. My

31:37

father's obviously been talking about that as

31:39

recently as like yesterday. But, you know,

31:41

what would that look like? What would

31:43

the sequence of events to make it

31:45

happen be? How does that work, you

31:48

know, in practice? Because you're right, I'd

31:50

rather go to the states and have

31:52

their responsibilities, but if you're, if 4,000

31:54

people are funding for... 38,000 people throughout

31:57

the state, so that's, you know, plus

31:59

a little less than a thousand people

32:01

estate. How do you get that rot

32:03

out of there as well? Because if

32:06

you just transfer it to the states,

32:08

but it's the same people just with

32:10

different funding mechanisms, how do you make

32:12

that happen to effectuate actual change? Well,

32:14

I think the way it's happening right

32:17

now is exactly the worst. You've got

32:19

to start there, and that's, you know,

32:21

been happening rapidly since day one, which

32:23

is wonderful. It's amazing, not wasting any

32:26

time. So I mean, you begin there,

32:28

ultimately it's got to go to Congress.

32:30

Congress needs to do something. But here's

32:32

what I would do. I would transfer

32:35

like the $1.7 million student loan portfolio

32:37

that's backstopped by the current education. The

32:39

Department of Education, financial aid, they have

32:41

no expertise in handling money. All they

32:44

do, they write checks. It's their job.

32:46

They write checks. So get it out

32:48

of their hands. They don't have the

32:50

expertise. Move it to the Treasury or

32:52

somewhere or private sector. But I mean,

32:55

at least have that portfolio overseen by

32:57

people that are trained to handle money

32:59

and know how to look at qualifications.

33:01

I mean, the rollout of the FFSSA,

33:04

which has happened a year and a

33:06

year and a half or so ago

33:08

by the department. is a perfect example

33:10

of apartments in competency when it comes

33:13

to handling financial. That's the application that

33:15

was supposed to be simplified from 100

33:17

questions, 18 questions for people who want

33:19

to go to college to apply to

33:21

the department to see if they qualify

33:24

for student aid financial aid. And they

33:26

completely bungled that. There was a GAO

33:28

study of it. I mean, they did.

33:30

rejected incorrectly about 500,000 applicants who then

33:33

couldn't proceed with their college plans. Maybe

33:35

a good thing, they have done them

33:37

favor, who knows. But I mean, you

33:39

know, just the ability this department handle,

33:42

that's about half of what the department

33:44

does. So get rid of that, move

33:46

into Treasury, there's some important things that

33:48

do happen. I think Doge needs to

33:51

have the council of people who say,

33:53

look, this is actually something important the

33:55

department does. Let's get it somewhere where

33:57

it can be done effectively. and competently

33:59

and if there are good people working

34:02

around that move them with it so

34:04

that the institutional knowledge isn't lost but

34:06

I mean that's a very small handful

34:08

of people so you know move things out

34:10

get them to the right places and then

34:13

have Congress pass a loss as we're done

34:15

with the Department of Education it is abused

34:17

its trust and no more. So

34:19

what do you do about

34:21

what's going on with the

34:23

student loan, you know, forgiveness,

34:25

so to speak? You know,

34:27

Biden did it. It was

34:29

ruled unconstitutional by the Supreme

34:31

Court. He did it again. It

34:34

didn't matter. It was pretty clear.

34:36

He was just trying to buy,

34:38

you know, buy votes. Where does

34:40

that sit right now? You know,

34:43

has it been actually forgiven? Is

34:45

it, you know, on a pause?

34:47

Yeah, well, that's I think you know from

34:49

everything I understand that's one thing that they

34:52

did competently They give way other people's money

34:54

very well and they you know even though frankly

34:56

they mangled that a few times But they because

34:58

they were rushing it for it to be done

35:00

right before elections and by the way they had

35:02

contracts to have Calling people like

35:04

right before the election weeks before the

35:06

election they had automated calls going out

35:09

saying President Biden has canceled your student

35:11

loan. Did you know that? make sure

35:13

you go to the polls in a

35:15

few weeks. I mean, it's just extraordinary

35:17

that these things were happening. But I

35:19

think that most of that, you know, $400

35:21

billion has already been, you know, granted. I

35:23

don't know if you claw that back somehow

35:26

from the people that no longer have to

35:28

make the payments. I can't imagine how you

35:30

do it, but I mean, it needs to

35:32

be exposed very thoroughly. And by the way,

35:35

the people that came in the Biden administration,

35:37

you know, largely from Massachusetts and Senator

35:39

Warrens, had promised to do exactly what

35:41

they did. And, you know, and, you

35:43

know, and also, you know, one of

35:45

their big purposes has been this story

35:47

for-profit educational institutions. So there's no competition.

35:49

So, you know, the other thing that

35:51

they've done incredibly well is protect the

35:54

NEA, the American Federation of Teachers. It's

35:56

like, if you want to know where

35:58

the department excels, it's in protecting. those

36:00

organizations not the suits yeah well you

36:02

saw that with the whole teachers union

36:04

during COVID you know well we don't

36:06

want to teach because it's not safe

36:08

well we don't want to do remote

36:10

learning because we don't really like it

36:12

we do want to get paid no

36:15

matter what you know it was sort

36:17

of it was so disgusting to me

36:19

to to watch that you know and

36:21

every time it's always a fight for

36:23

more vacation I'm like I don't know

36:25

anyone who has more vacation time than

36:27

you know teachers that get paid for

36:29

a full year it's It's sort of

36:32

wild. I'm not saying it's an easy

36:34

job or you know, there's not great

36:36

teachers out there, but the teachers union

36:38

itself has weaponized all of these things

36:40

so badly to the detriment of our

36:42

students. And again, it's not like we're

36:44

over performing. So I mean, I do

36:46

feel like something has to be done

36:49

about that one. The other thing too

36:51

is there was $190 billion thrown at

36:53

elementary and secondary and secondary schools, you

36:55

know, under the guys of code. And

36:57

so, you know, in the crazy year

36:59

2020. that was passed by Congress, but

37:01

most of them was then, you know,

37:03

doled out during the Biden administration. So

37:06

one of the first things the Biden

37:08

administration did is said states and localities

37:10

if you did at the school districts,

37:12

if you want any of this money,

37:14

you have to submit an equity plan

37:16

to the prior education. Otherwise, we won't

37:18

even consider it. So DEI was so

37:20

infused from day one, you know, tied

37:23

to any kind of money these these

37:25

agencies that any grant could be awarded.

37:27

So I mean, you know, this is

37:29

how abuse have been disgusting. The DEI

37:31

was a way to channel money to

37:33

their friends and to hold it back

37:35

from people that they didn't like, probably

37:37

mainly in red states. But they basically,

37:40

you know, they got four years of

37:42

everyone, you know, local school districts on

37:44

up through state agencies marching in between

37:46

their drummer. And so it's like the

37:48

executive orders that are coming out now

37:50

been wonderful and keep going down, down,

37:52

down, down to remove, you know, the

37:54

last. you know, vestiges of cancer. I

37:57

mean, you've got to keep treating this

37:59

patient until it's all gone, every state,

38:01

every local school district. Well, so you've

38:03

also worked at the DOJ. You know,

38:05

talk about what you think Pam Bond.

38:07

these top priorities should be, you know,

38:09

as she sort of, you know, really

38:11

gets rolling, is it to stop the

38:14

law fair and restore credibility? Is it,

38:16

you know, deeper than that? And what

38:18

can we do to stop those abuses

38:20

from the office of civil rights and

38:22

others? You know, civil rights except for

38:24

those they disagree with. Those people don't

38:26

get any civil rights. Yeah, that's exactly

38:28

right. And again, this is something where...

38:31

We're really decades. We're not, this isn't

38:33

following up on four years of law

38:35

for fair, we're decades into law fair.

38:37

And I was at the OJ for

38:39

most of your father's previous administration. And,

38:41

you know, the open sabotage by high-ranking

38:43

department officials, by the Deputy Attorney General,

38:45

others there, was just extraordinary. And it's,

38:48

it's, you know, the, the, completely beyond

38:50

their mission. It's an agency too that

38:52

has grown tremendously. If you pair it

38:54

back all of a sudden, they'll have

38:56

to focus on the things that actually

38:58

matter. To me, what I've seen, the

39:00

new internal general doing, you know, really

39:02

good stuff, focusing, you know, going after

39:05

these cities and saying, you're not going

39:07

to get any more funding if you're

39:09

going to be a sanctuary city, if

39:11

you're going to be a sanctuary state.

39:13

we're going to come after you because

39:15

you're actively passing these laws and enforcing

39:17

them to prevent the federal government from

39:19

doing its job on immigration and other

39:22

things. So I mean, I think she's

39:24

off to a great start. And, you

39:26

know, that's what the American people expect.

39:28

So, you know, it's finally being delivered.

39:30

I think there's a lot of shock

39:32

right now because, you know, a lot

39:34

of Republican presence and presidential candidates have

39:36

talked about it. No one's ever done

39:39

it. So it's absolutely shocking. I think

39:41

it's great how they're going at things

39:43

and get the FBI back in the

39:45

business of investigating and not counter intelligence,

39:47

not visiting its tools to go after

39:49

its political opponents or to go after

39:51

school school parents that express a different

39:53

viewpoint. I mean, it's just extraordinary. So

39:56

again, the technical of what's been done.

39:58

This has been a disease really from

40:00

the left. There's got to be a

40:02

lot of active work to pull out.

40:04

To have Elon Musk, you know, I

40:06

mean, the Twitter files, with Matt Taibi,

40:08

I think one of the best things

40:10

that's happened in this country, to have

40:13

that man leading the effort now to

40:15

expose what's been happening at different agencies,

40:17

I think it's terrific. No one better.

40:19

Paul I really appreciate it thank you

40:21

so much for your time a lot

40:23

of work to be done hopefully they

40:25

call you for some other tips if

40:28

they're not if they're not on it

40:30

already otherwise we'll have to just make

40:32

it very vocal in you know the

40:34

Twitter sphere absolutely happy to help thank

40:36

you on appreciate it man thanks a

40:38

lot have a great day and guys

40:40

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41:14

Check them. joining me now CEO of

41:16

MBS Highway entrepreneur and housing expert and

41:19

a good friend Barry Habb Barry great

41:21

to have you man. How are you?

41:23

I'm great. Thanks for having me. So

41:25

first I want to get to sort

41:27

of January's inflation numbers. They were worth

41:29

worse than expected which tells us that

41:31

the invited administration did in fact leave

41:33

us with a mess. We knew it

41:36

was building up. You saw all the

41:38

waste fraud abuse that they were throwing

41:40

in the last weeks after of the

41:42

election. Is it even worse than we

41:44

anticipated? We knew some of it was

41:46

going on. How much were we perhaps

41:48

missing? So yeah, the inflation numbers certainly

41:50

were hotter than expected. The thing is

41:53

that you look at inflation two ways,

41:55

the way that an economist looks at

41:57

the rate of change, the way that

41:59

a customer or consumer just everyday person

42:01

looks is how much is costing me

42:03

at the grocery store, which is a

42:05

cumulative effect. So even saying the rate

42:07

of change came down, which it did

42:10

to some extent. over the last year,

42:12

it still is adding to the inflation

42:14

that the consumer is feeling. So it's

42:16

just a little bit of a different

42:18

way to gauge the inflation numbers. So

42:20

look, I think that inflation while extraordinarily

42:22

hot under the Biden administration, we had

42:24

proficate spending, we also had the Fed

42:27

that was complicit in this because they

42:29

were looking at antiquated indicators. What I

42:31

am seeing now is that the actual

42:33

rate of change still adding to inflation

42:35

actually... is lower than what we're seeing

42:37

in the report, and that's because the

42:39

way that it's computed. And I know

42:41

that President Trump would like interest rates

42:44

to come down, but a key function

42:46

of this is seeing the correct information

42:48

on inflation going forward. Yeah, it feels

42:50

like they're always moving the goalpost. You're

42:52

right. The rate of change, that was

42:54

the metric that they used to say.

42:56

Inflation's coming down. It's like, no, no,

42:58

no. Inflation's still here. It's still going

43:01

up. It's just not going up as

43:03

fast. So they tried to say it's

43:05

coming down when it's actually going up,

43:07

and it's actually going up, and it's

43:09

not going up. this cost that is

43:11

essentially entirely self-flicted, specifically in housing. You

43:13

have illegal immigrants overwhelming the country, then

43:15

there's also a mass influx of foreign

43:18

ownership, especially in high-end markets. I mean,

43:20

just how hard is it to buy

43:22

a house for, let's call them, common

43:24

sense? middle class Americans these days relative

43:26

to what you would have seen five

43:28

or six years ago? Well it's a

43:30

challenge it's a challenge especially if you're

43:32

a first-time home buyer even people that

43:35

own a home they say well I

43:37

couldn't afford to buy my own home

43:39

today part of that's good they've gained

43:41

equity in their home because the value

43:43

has gone up but the other is

43:45

that mortgage costs have gone up rather

43:47

significantly yet again that goes back to

43:49

the inflation issue because in order to

43:52

get a real rate of return an

43:54

investor is going to lend money and

43:56

say well blended out at this rate,

43:58

but inflation is going to erode this

44:00

amount, so I got to preserve this

44:02

railroad return. So as inflation goes up,

44:04

it drives interest rates higher. So what

44:06

we need is we need to see

44:09

inflation come down. Now, fortunately, the way

44:11

that this is computed is, it's interesting,

44:13

Don, in that what we have to

44:15

look at is the biggest component in,

44:17

let's say, the consumer price index that

44:19

we got yesterday. is called shelter. Now

44:21

people think of shelter as a roof

44:23

over their head. The way that the

44:26

government looks at this is very antiquated.

44:28

They don't look at mortgage payments. They

44:30

don't look at what the value of

44:32

the home is. They simply convert it

44:34

into rent. So they look at housing

44:36

as a service and it's either rent

44:38

or the equivalent rent that if you

44:40

own a house that you could charge.

44:43

Now, if you were looking at these

44:45

numbers, the problem with the way the

44:47

government looks at it is it's antiquated.

44:49

in dividing the country up into panels

44:51

because they're understaff, meaning that they look

44:53

at one-sixth of the country every month.

44:55

So that means if you look at

44:57

an area of the country in January,

45:00

the next time you're going to revisit

45:02

it is in July. As things change,

45:04

you could see big influxes. The problem

45:06

with that is that you are not

45:08

going to capture what's actually happening, and

45:10

the result is this. Right now, the

45:12

government's telling us that rents are going

45:14

up on an annualized basis at four

45:17

and a half percent a year. If

45:19

you take a peek at what they're

45:21

really going up, it's only 1.5% by

45:23

all the real-time data we have, by

45:25

whether it's Zillow, Core Logic, realtor.com, apartment

45:27

list, redbed. The metrics that you have

45:29

available that were not available 50 years

45:31

ago when they came up with these

45:34

could be used. It's like adding instant

45:36

replay to football. So if you were

45:38

to simply make this change, inflation would

45:40

be at the Fed's target of 2%.

45:42

Again, still adding to inflation, but we

45:44

could actually see 2% inflation, you'd see

45:46

mortgage rates come down, and you'd see

45:48

housing become a lot more affordable, because

45:51

rates should really be at 6%, not

45:53

7% right now. That would help those

45:55

people buying a home because currently they're

45:57

under a lot of pain in trying

45:59

to make. a lot of wealth for

46:01

themselves for the future. Yeah, I mean,

46:03

that's a big one. I mean, just

46:05

that the notion of that home ownership

46:08

being there, but you're right, they, you

46:10

know, sort of, they, they utilize metrics

46:12

to see, to sort of suit their

46:14

needs. I remember, it was, I guess,

46:16

18 months ago or something, I was

46:18

talking about Paul Krugman, he wrote this

46:20

thing, inflation is great, it's totally under

46:22

control, and then you look at the

46:25

bar graph, you know, he's a Nobel

46:27

Laureate economist, he's, he's an economist, he

46:29

won, he won, he won a Nobel

46:31

Prize, he won a Nobel Prize, an

46:33

economics, an economics, an economics, he's an

46:35

economics, he's, he's, he's, he's, is clearly

46:37

just a liberal shill functioning, you know,

46:39

as a, you know, the arm of

46:42

the, you know, Democrat party, because you

46:44

look at the chart and it goes,

46:46

Asterix, if you exclude housing, food, transportation,

46:48

and energy, and I'm like, wait a

46:50

minute, like, for the average American, like,

46:52

you know, maybe, like, you know, there's

46:54

some nice ideas that you could have

46:56

in there, but like, in the grand

46:59

scheme of your life, like, It's like

47:01

90% of your life is housing food,

47:03

transportation, and energy. So that's all a

47:05

disaster. But like if you exclude that,

47:07

the inflation numbers look great. It's wild,

47:09

and they'll gas light you, and then

47:11

everyone else never gets past the headline.

47:13

They don't bother to check out what

47:16

the asterisk says. And so they just

47:18

lie to your face. Who would do

47:20

that? Just like with CPI, when they

47:22

exclude, you know, gas prices. It's like,

47:24

I don't know. Well to your point

47:26

I've had a few dinners with with

47:28

Krugman and he just the way his

47:30

thinking is is is it's bizarre let's

47:33

leave it at that okay and he's

47:35

just has an agenda in the way

47:37

he But really, the problem does come

47:39

not just in the inflation numbers done,

47:41

and it is the way that the

47:43

BLS reports, the employment numbers. They have

47:45

made several errors, and it's, let's put

47:47

it this way, it is at least

47:50

questionable what they did near the election.

47:52

Because around the time of election, they

47:54

did it every time, Barry. They put

47:56

up a great number. Oh, the jobs

47:58

reports, it's looking great. You know, two

48:00

months later, it gets revised down to,

48:02

like literally what would be... disaster level

48:04

numbers and they did it each and

48:07

every time and they certainly did it

48:09

right before the election it was like

48:11

but when they revised it and corrected

48:13

it to a bad number from a

48:15

glowing number you know that's on the

48:17

page 12 that was revised no one

48:19

don't worry about it you know no

48:21

one no one ever sees it no

48:24

one ever reports on it so I

48:26

mean it is sort of you know

48:28

this mafia of people gathered together to

48:30

sell you misinformation you misinformation they you

48:32

don't get it wrong every time and

48:34

by the Shouldn't there be a consequence

48:36

there? Shouldn't those people get changed? Shouldn't

48:38

there be other objective people looking at

48:41

it and, you know, doing a peer

48:43

review to say this is actually accurate,

48:45

not weaponized politics? It is reviewed. It's

48:47

reviewed by the Q CW, the quarterly

48:49

census of employment and wages. And what

48:51

they found was that although the Bureau

48:53

of Labor Statistics said. after they themselves

48:55

revise the numbers lower, there wasn't two

48:58

and a half million jobs created. There

49:00

was 1.25 million jobs created. So essentially

49:02

a hundred thousand jobs a month was

49:04

a BS number. And look, it's a

49:06

Herculean effort to do this, but you

49:08

have to be curious, especially around the

49:10

liberties that they took with something called

49:12

a seasonal adjustment. Now seasonal adjustment done

49:15

is meant to say, look, look, during

49:17

the holiday shopping season. You get all

49:19

of these hires. It doesn't mean the

49:21

economy is going gangbusters and when they're

49:23

let go in January, it doesn't mean

49:25

the economy is falling off a clip.

49:27

The same with teachers in June and

49:29

September. So they use a seasonal adjustment

49:32

to smooth it. But the last time

49:34

they did this before the election, they

49:36

did something they hadn't done in 49

49:38

years and gave the most generous seasonal

49:40

adjustment. to make the numbers look as

49:42

pretty as possible right before the election.

49:44

Now again, I'd have to say it's

49:46

at least questionable as to why they

49:49

did something like this and the timing

49:51

of why they did it. And we

49:53

know these folks did not want to

49:55

go back to work, which they have

49:57

to do now. We know that the

49:59

heads were Obama appointees. We know that.

50:01

So you have to at least go

50:03

in with eyes wide open and say,

50:06

is there a bias there? You're much

50:08

nicer than me Barry. I'm going to

50:10

go out there and say they definitely

50:12

did this. There's almost zero question in

50:14

my mind that they did this because

50:16

it was pretty consistent throughout. You know

50:18

where they stand. You know what they

50:20

want to do. What do you expect

50:23

right now as far as a possible

50:25

rate cut from the Fed? You touched

50:27

it on it a little bit before,

50:29

but what does that look like to

50:31

you? How do we get to that

50:33

point? Will some of the savings on

50:35

those, if we're not racking up the

50:37

extra debt that we don't need to

50:40

be doing, if Elon's able to cut

50:42

a trillion dollars out of the budget?

50:44

You know, you're still running a deficit,

50:46

but it's not racking up as much.

50:48

You know, what does all of that

50:50

look like to you? Because I mean,

50:52

I feel like if we can get

50:54

to a place where interest rates go

50:57

down, you know, that's going to be

50:59

when people start investing. That's when people

51:01

are going to start trying to buy

51:03

homes. That's when it's going to be

51:05

affordable for other people who aren't already

51:07

in a home to buy a home.

51:09

Well, again, as we mentioned, the accurate

51:11

information on where the rate of change

51:14

on inflation is will be critical. But

51:16

in addition to that, I do believe

51:18

that the labor market is not as

51:20

strong. When you look at more indicative

51:22

numbers. Job openings, which is a leading

51:24

indicator, has precipitously fallen. And the Wall

51:26

Street Journal said that one out of

51:28

five job postings is bullshit. In addition

51:31

to that, you also have the fact

51:33

that there's double counting. Nobody thinks about

51:35

this on job postings years ago. If

51:37

I wanted to hire somebody, I had

51:39

to post it locally. But with work

51:41

from anywhere, I can post it in

51:43

every state, and each one of those

51:45

states counts the same job opening as

51:48

it gets aggregated. because plus people. on

51:50

unemployment benefits is rising at a time

51:52

when they told us that the unemployment

51:54

rate was falling. So there's a lot

51:56

of moving parts here that lead me

51:58

to believe that the job market is

52:00

not as strong. If the job market

52:02

slows, which I think it will, if

52:05

inflation comes down, which I do think

52:07

it will as well, that means rates

52:09

will come down. And it also means

52:11

that the Fed... who can quickly change

52:13

their mind, maybe talking very tough now

52:15

about less rate hikes or even less

52:17

rate cuts or even potentially would they

52:19

do a rate hike? They can quickly

52:22

change their mind if they see the

52:24

data change. They give us their summary

52:26

of economic projections. And I think if

52:28

we get the unemployment rate to 4.4%,

52:30

14 of the 19 Fed members are

52:32

going to say, oh my gosh, we

52:34

got this wrong. We got to get

52:36

aggressive with rate cuts. So that's kind

52:39

of the magic number for everybody to

52:41

look at. 4.4% unemployment rate and watch

52:43

that interest rate, watch the inflation rate

52:45

of change come down closer to 2.3

52:47

from its current level of 2.8. Those

52:49

are the magic numbers that will help

52:51

interest rates come down. And by the

52:53

way, Don, housing is at a point

52:56

right now where people think, well, it's

52:58

overvalued. Housing has continued to be very

53:00

resilient. And I think that when you

53:02

just look at the sheer numbers of

53:04

the laws of economic supply and demand,

53:06

you get interest rates a little bit

53:08

lower in real estate may be one

53:10

of the best investments out there because

53:13

I do see a lot more price

53:15

appreciation. Yeah no that's interesting so I

53:17

had no idea about that on the

53:19

job postings that it just you know

53:21

each you know each time it's in

53:23

a newspaper or a different state it

53:25

counts as a new job posting I

53:27

mean How do you, you know, two

53:30

audits, I guess you asked, how do

53:32

you audit that? Where does that have

53:34

to take place? How do you get

53:36

that right so that the Fed is

53:38

actually looking at objective numbers or your

53:40

actual numbers? Or, you know, again, I

53:42

saw, you know, in the original job

53:44

numbers, a lot of people, well, if

53:47

you took on a second part-time job

53:49

because you needed it to make ends

53:51

meet, that was two jobs in the

53:53

job market, but it's one person just

53:55

struggling to struggling struggling. that they're putting

53:57

out and then you have Elon now

53:59

talking about auditing the Fed. Is that

54:01

feasible? What needs to be done? There's

54:04

a lot of good information right there

54:06

and a lot of good questions. So

54:08

starting with the data itself, yes it

54:10

is a Herculean effort to do it.

54:12

So I understand that. However, just like

54:14

we talked about earlier, you made. pro

54:16

sports better by introducing instant replay and

54:18

making it more modernized to get better

54:21

data. We need to be taking these

54:23

steps. You need to be taking the

54:25

data that is readily available and accessible

54:27

and using and implementing the data that's

54:29

there instead of going back to these

54:31

things. As far as the Fed goes,

54:33

you've got to remember Don that you've

54:35

got Fed members, people like Michelle Bowman,

54:38

even our Fed chair, Jerome Powell, these

54:40

are not economists. These are lawyers. Okay.

54:42

Yeah. It's there's a big difference between

54:44

understanding economic conditions and being an attorney.

54:46

I believe that these are things that

54:48

need to be looked at as far

54:50

as who is voting on the most

54:52

important price in the world, the price

54:55

of money, the US is the US

54:57

dollars, the world's reserve currency, and you've

54:59

got 19 people determining the value of

55:01

that. Are these 19 people really qualified

55:03

in order to make those decisions? when

55:05

it comes to what the Fed will

55:07

do going forward. As I mentioned, I

55:09

think that the Fed definitely should be

55:12

looking at these numbers much more objectively

55:14

and looking a little deeper. They aren't

55:16

looking at the numbers other than for

55:18

the most part just on the surface

55:20

what the headline is, but you have

55:22

to look under the hood. For example,

55:24

the same thing we talked about with

55:26

the delay that lag in the shelter

55:29

numbers, it made the Fed complicit. in

55:31

adding to the inflation problem, you had

55:33

the Biden budget buster of $1.9 trillion

55:35

that we did not need, and that

55:37

definitely added a lot of issues. Plus,

55:39

you had a lot of the fraud

55:41

that occurred with the spending that went

55:43

on, which of course, Doge is uncovering.

55:46

This is something that created a lot

55:48

of the inflation. But remember the Fed

55:50

continued with QE, they continued with zero

55:52

interest rate policy. Why? Because they were

55:54

looking at inflation numbers that were lagging

55:56

because of the same shelter component. And

55:58

while rent... in real time we're going

56:00

up and the inflation numbers were going

56:02

up because of the lack they said oh we're

56:05

okay to keep QE, oh we're okay to keep

56:07

interest rates at zero because what we're looking at

56:09

on the data remember they keep saying data dependent

56:11

shows that inflation is under control when in

56:13

real time how they had looked at that

56:16

they could have responded more quickly and at

56:18

least to some degree contained that level of

56:20

inflation. They're making the same mistakes today in

56:22

the opposite direction in the opposite direction. Would

56:25

you abolish the Fed? Does it

56:27

even serve a purpose anymore? Does

56:29

it, you know, obviously that's a

56:31

big thing for a lot of

56:33

people on, you know, my side

56:35

of the political spectrum, but, you

56:37

know, I'm sure there is some

56:39

purpose. What would your ideal scenario

56:41

be, whether it's, you know, sort

56:43

of extreme modification to make sure

56:45

that, you know, there aren't just

56:47

lawyers making economic decisions with, you

56:49

know, and just because they get

56:51

appointed to a prestigious position that...

56:53

probably they have no business being

56:55

in. So the latter point is excellent.

56:57

You need to have vetted qualified

57:00

individuals in this really critical position.

57:02

I do think an independent Fed

57:04

can be a good thing because

57:07

look, whoever is in control, whoever

57:09

it is, to have the ability

57:12

to set interest rate policy. You'd

57:14

have to think that there's potential

57:16

conflicts there that could occur. So

57:19

if you truly have an independent

57:21

Fed that is truly qualified, it's

57:23

probably a good thing that's probably

57:26

a good idea. And in many cases,

57:28

it does work well. This particular Fed

57:30

has bungled things. Again, I believe it's

57:33

because the way that they've looked at

57:35

the data look. When you have points

57:37

where things are relatively stable. Lagging data

57:39

doesn't really matter, but in points of

57:41

inflection, and we certainly have seen that

57:44

after the COVID disturbances and what it

57:46

caused in the economy, looking at lagging

57:48

data can be very, very painful in

57:50

the wrong thing to do, and having

57:53

people who aren't vetted, who aren't sharp,

57:55

who are bureaucrats, instead of sharp economists,

57:57

that will cause the pain that all of

57:59

us have. gone through. I mean, inflation

58:01

affects everyone. These changes in interest rates

58:03

affects everyone stealing the ability for someone

58:06

to purchase a home creates an enormous,

58:08

enormous issue for them generationally. Just think

58:10

about this, Don, you have currently in

58:13

the housing market, right? You have 136

58:15

million households in the United States. Of

58:17

those 136 million, you have about 45

58:19

million that are renters. They have zero

58:22

equity, zero equity. The 91 million that

58:24

have households. They have 91 million of

58:26

them have 37 trillion dollars in equity.

58:29

They average 571,000 per household versus zero.

58:31

We want to help people. You've got

58:33

to get people into homes. That's how

58:36

you could create generational wealth for them.

58:38

And also it's the best hedge against

58:40

inflation. Well, Barry, I really appreciate it,

58:42

man. There's so much to go here.

58:45

As we discover more stuff, I'll definitely

58:47

have to get you back on and

58:49

let you do the full thing with

58:52

the charts and the grass, because it's

58:54

fascinating. And there's just a lot of

58:56

nuance there that I think a lot

58:58

of people miss, that they should be

59:01

informed about, because we're all about getting

59:03

that information out there. So great seeing

59:05

you, man. I appreciate the time, and

59:08

I look forward to seeing you again

59:10

soon. Thank you, brother. Guys, thank you

59:12

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