Did you know that Hitler may have been living in South America after World War II, and the CIA was looking for him 10 years after he supposedly died? And the Democrats are putting on a play about it, called The People's Cabinet.
00:04:58.640Harvard was getting $9 billion in government funding.
00:05:04.860Now, one of the things that many of you have heard but don't understand is that the so-called
00:05:11.580endowments that colleges have, they can't really use it for whatever they want.
00:05:16.600So if you say to yourself, but Harvard has endowments worth X billions of dollars, why don't they
00:05:24.540spend that instead of charging people for tuition?
00:05:27.300And the answer is the endowments usually are limited, as in, here's some money to build the science building and put my name on it.
00:05:37.140But they can't just use it for whatever they want.
00:05:39.880Or here's an endowment to give scholarships to a certain class of people.
00:05:45.600They can't just take it and use it for other stuff.
00:05:49.180So if you want to be the smartest person in the room, when somebody else says, they've got these rich endowments, you should say, they do, but they're all restricted.
00:05:59.560They can't just use them as a piggy bank.
00:06:01.820Anyway, $9 billion, and again, I don't know over what time period that is.
00:06:07.520That can't possibly be one year, but maybe anything's possible.
00:06:13.680But the reason that they might lose that $9 billion is that Trump is insisting that they get rid of their DEI programs and clamp down on all the anti-Semitic protests and stuff.
00:06:26.320And he also wants them to ban face masks on campus, because that's one of the reasons that the protests can get out of control, because people can cover their faces.
00:06:44.600Well, according to Newsmax, Sam Barron is reporting that the Department of Energy has decided that 44% of their staff is what they call non-essential.
00:06:58.84044% of their entire staff is non-essential.
00:07:06.520Now, I wonder how they figured that out.
00:07:09.640So in all likelihood, there's going to be some big employee cuts there.
00:07:14.600I think they should rename the department.
00:07:17.520If 44% of your employees are non-essential, I wouldn't call it the Department of Energy.
00:07:24.020I would call it the Low Energy Department.
00:07:31.660Meanwhile, housing and urban development that you call HUD is going to stop funding housing in sanctuaries, cities, and states.
00:07:46.440So if you were one of those states that depended on HUD to help you build some housing, and you had a shortage of housing, good luck if you're a sanctuary city or a sanctuary state, because the HUD Secretary, Scott Turner, just sent in a letter saying you're not going to get it if you're a sanctuary city.
00:08:09.020Now, I've never seen the government use its power this way before, because I guess I didn't realize how many things the government funds, but watching the government use its just funding authority to change things is kind of interesting.
00:08:28.140But it makes me wonder, if Democrats win, are they just going to reverse everything, and they would just use the same threat?
00:08:49.740The gold standard of online casinos has arrived.
00:08:52.580Golden Nugget Online Casino is live, bringing Vegas-style excitement and a world-class gaming experience right to your fingertips.
00:09:00.200Whether you're a seasoned player or just starting, signing up is fast and simple.
00:09:04.660And in just a few clicks, you can have access to our exclusive library of the best slots and top-tier table games.
00:09:10.700Make the most of your downtime with unbeatable promotions and jackpots that can turn any mundane moment into a golden opportunity at Golden Nugget Online Casino.
00:09:20.380Take a spin on the slots, challenge yourself at the tables, or join a live dealer game to feel the thrill of real-time action, all from the comfort of your own devices.
00:09:29.060Why settle for less when you can go for the gold at Golden Nugget Online Casino?
00:10:39.400Now, I think that, you know, for however many billion dollars are at risk, the damage it would do to Trump if it just got closed down in the United States might be worth it for China.
00:10:57.260They might say, well, you know, China was only going to make, I don't know, 30 or 50 billion dollars.
00:12:26.320And RFK Jr. said that he wonders why those drugs are made in other countries, but they don't give us the same version that they allow in their own country.
00:13:44.960You would eat like crazy until you were at 30 and then you would go get the drug because the drug would take you all the way past 25 and keep going.
00:13:54.280So it's not like they're going to deny you the drug once it's working.
00:13:58.680You know, once you're on the program, you get to lose the weight.
00:14:01.100So, yes, all the people who are close to 30, they would be incentivized to just eat terrible food until they reach 30.
00:14:08.960And then they're like, I think I reached it, Doc.
00:14:11.540And the doctor would say, oh, finally, I can get you this free drug.
00:14:16.960Now, do you tell me there wasn't one Democrat who understood that would have been just a nightmare?
00:14:23.360There's no way that that wouldn't have been a big problem.
00:14:52.960Well, President Trump has called on the Fed chairman, Jerome Powell.
00:15:01.200Now, he doesn't have control over him.
00:15:03.260The Fed is an independent entity, so it can do what it wants.
00:15:06.780But Trump's trying to embarrass Powell into cutting interest rates on the 10-year treasury.
00:15:12.060Oh, because the 10-year treasury has fallen below 4%.
00:15:16.980So, at one point, it was above 5%, not too long ago.
00:15:21.340But between the tariffs and maybe some other stuff, interest rates have drifted down.
00:15:29.860And this would be a terrific time to give everybody a little raise if they're paying anything on interest.
00:15:36.100So, well, at least anything that's going to be adjustable.
00:15:42.220But more importantly, apparently, the government has to refinance something like $9 trillion pretty soon.
00:15:50.340And the difference between refinancing it at 5% and 4% is really, really big.
00:15:57.260So, the theory that I mentioned yesterday that the big play with tariffs might have been to tank the stock market temporarily because then people move their money into bonds.
00:16:13.240And if they have their money in bonds, supply and demand causes the interest rate to go down.
00:16:18.280And then you refinance your trillions and trillions and then slowly you can let the stock market come back to the level you want.
00:16:30.040Now, if that's what the Trump administration had in mind the entire time, and honestly, it's starting to look that way.
00:16:39.740It's starting to look like that was always part of the plan.
00:17:14.260But I don't know that Jerome Powell is going to want to look like he was influenced by the president.
00:17:20.700So, I don't know that Trump is playing this right because he's putting Powell in a position where he's supposed to be the independent guy.
00:17:30.040But if Trump is publicly saying you should do this and then he does it, it's going to look like he got influenced.
00:17:38.520So, I'm not sure the persuasion play here is quite right.
00:17:42.900It looks like Trump might be doing anti-persuasion.
00:17:47.140On the other hand, Powell is going to have a lot of explaining to do if he doesn't do it because everybody's going to be hurt by it.
00:17:53.840And it's going to be a lot of pain for the country.
00:17:57.660So, you'd have to ask yourself, is Jerome Powell on the side of the United States or his own side or somebody else's side if he doesn't lower interest rates?
00:18:12.680Well, so far, the number of countries who have decided that they're going to immediately negotiate their tariffs with Trump, it's a small number.
00:18:24.140But it's so far Vietnam, Cambodia, Argentina, Israel's already gone.
00:20:55.720So, yes, I think the golden age is looking actually pretty strong.
00:21:00.100But Trump and everybody smart warned that there would be a period of turmoil, which is the period when.
00:21:09.080Now, there's almost nothing I can think of that doesn't require some sacrifice to get there.
00:21:15.580If you wanted to get in shape at the gym, it's going to be harder when you start.
00:21:23.220If you wanted to go on a diet, it's going to be kind of painful.
00:21:27.860If you wanted to improve your job, you're probably going to have to, I don't know, go to training or school at night or, you know, double your efforts.
00:22:00.440If you're playing small ball, like the troll on YouTube, and you don't understand how anything works, it just looks like, oh, my stock went down.
00:22:29.740And since the stock market was down, she decided that what she would do is, it looks like she was drunk, go in public and say, I don't want to say, I don't want to say, I don't want to say, I told you so.
00:22:51.440I don't want to say, I don't want to say, I don't want to say, I don't want to say, I don't want to say, I don't want to say, I don't want to say it.
00:32:51.280But I'm going to give you a frame because we're in such an unusual situation.
00:32:57.260If the stock market continued to go down and we got into a Great Depression, the value of stocks would be even better once we were in the Depression.
00:33:09.060If you had bought stocks at the depth of the Great Depression, you would have done great.
00:33:51.740Where else are you going to put your money?
00:33:55.080Would you put it in some other country?
00:33:57.840If the United States was going to go down the toilet and just be completely out of business, that would take most of the world would follow, I think.
00:34:07.820So you have one of these weird situations where it seems like things can't get much worse.
00:34:17.700But if they did get worse, it wouldn't matter where your money was.
00:34:54.280Then there's the argument that the only people being hurt are the wealthy because it's the top half of the economic United States that own stocks.
00:35:05.040There's almost nobody in the bottom half that owns any stocks.
00:35:08.980And the top 10% own, I don't know, 88% of them are some crazy number.
00:35:13.940So if what Trump is doing is reforming the United States economy such that it brings back more manufacturing jobs,
00:35:28.080then that would be great for the bottom 50% of the country.
00:35:32.960And ultimately, it would be great for the top half as well.
00:35:36.640But in the short run, the people at the top are going to take a little scare.
00:35:41.080And the scare is, well, there goes 20% of your money.
00:35:46.340But it's not really gone as long as they can ride it out.
00:35:50.080And rich people can ride it out generally.
00:36:30.580Probably just the economy sometimes has a good month.
00:36:35.840And so I don't think it predicts anything about tariffs.
00:36:39.840It doesn't say that the tariffs are a good idea or a bad idea.
00:36:43.060It doesn't tell you that it will be the same next month.
00:36:47.120It's just sort of good news for March because it could have been worse.
00:36:52.400But it does show a little bit of strength, which is a good time to do the tariff stuff.
00:36:57.260Then there's the inflation argument, the argument that the tariffs are going to cause inflation because isn't that what happens when prices go up?
00:37:58.420So if you said, but the cost of my German car went up 20%, I say to you, well, why don't you buy a Ford, which is giving you now the employee discount that's cheaper than it used to be?
00:38:13.320So you're going to have an option of spending less if you're OK with American choices over other choices.
00:38:21.500The other thing is, in the long run, of course, if manufacturing comes back and we can make our own products, you know, prices could drift down, potentially.
00:38:34.240But also, if food and energy prices went way down, your overall inflation rate would look pretty good.
00:38:42.640And it turns out that if we make and sell all of our food to Americans instead of selling some of it overseas, it might actually be cheaper.
00:39:00.340You know, we might find that food prices are not that affected by the tariffs.
00:39:06.300But oil, it just reached an all-time low.
00:39:08.720So if every one of our goods and services went up in price, but oil went to an all-time low, it might cancel out because oil and energy is one of the biggest expenses that goes into any product.
00:39:28.280So you might end up finding out, oh, the economy looks like it took a big hit, which causes the demand for oil to go down, which causes the products to cost less.
00:39:41.420So the argument on inflation is that the only thing that causes it is printing money and that tariffs can cause individual prices to go up in the short run, but it doesn't cause inflation in the long run.
00:39:58.280Then there's the trade deficit argument, where most of the countries we're dealing with, they sell us way more things than they buy from us.
00:40:13.220And I've seen two arguments from smart people.
00:40:16.840One said the trade deficit is nothing you need to worry about because it's just numbers on a piece of paper.
00:40:23.380And it doesn't matter that we're buying more than we're selling.
00:41:57.860When Smoot-Hawley put their tariffs on, did five countries immediately contact the U.S. and say, hey, how about we all drop all of our tariffs?
00:42:07.740Because that's what just happened with these tariffs.
00:42:10.100So I don't think you can compare a country that was teetering on the edge and wasn't using it for negotiating with whatever's happening today.
00:42:22.080There would be just too many differences.
00:42:23.620And then you might remember, as a cynical publicist, who's on Acts, a great account to follow, cynical publicist, argues that back when Gore was arguing with Ross Perot about NAFTA, Gore argued that NAFTA was a good idea.
00:42:47.520And Perot was saying there would be this giant sucking sound that would suck the industry out.
00:43:17.520So some are saying that, I saw the Wall Street Journal had an opinion piece, that China had a good week, meaning that things are looking good for China because of this, you know, they just have some kind of negotiating advantage.
00:43:40.480So one of the things China has, as I mentioned, is the TikTok thing.
00:43:43.800Trump has a lot riding on the TikTok deal because I think one of his biggest funders is an owner of it and needs to need some kind of an exit or some kind of a deal to not lose all of his billions.
00:44:01.280And, you know, Trump's put his reputation on it and now China just yanked it back.
00:44:08.340So now they have something to negotiate with in addition to the tariffs themselves.
00:44:13.720So then there's also the China has those Panama ports that we don't want China to be controlling.
00:44:21.960But I don't know, does that work for China or against it?
00:44:26.640Because we could always just go in there and just take it.
00:44:29.280And I don't think China would start a war over it.
00:45:00.960It seems to me they can ride this down pretty well.
00:45:06.320So they probably played this exactly right by just matching our tariffs, which are unsustainable in either direction probably.
00:45:16.740Whereas we might need the things they have, like their various parts that are necessary for our industries and the rare earth minerals, et cetera.
00:45:25.740We might need them a lot more than they need us.
00:45:30.960If you would ask me how much of China's exports go to the United States, if I hadn't looked it up, probably would have guessed north of 30%.
00:45:42.480And if that were the case, then we would have a pretty good negotiating position.
00:45:48.800Because, you know, 30% of what they export, you know, they're not going to lose that.
00:45:55.140But 15%, 15% is right at the point where they could say, you know what?
00:46:01.320There are other people who will buy these things.
00:46:04.460It's not like we're even going to lose any sales.
00:46:07.300We'll just sell it to Russia instead of you.
00:46:10.540We'll just sell it to Japan instead of you.
00:46:13.700So China is in an unusually strong position.
00:46:21.600So I don't know where that's going to go, but I hope Trump has some negotiating tricks in his bag.
00:46:31.420Well, according to Fox News, the military looks like it might cut 90,000 troops because of budget reasons.
00:48:56.160I'm just going to say, unfortunately, we live in a world where this can happen.
00:49:00.460And I don't have any further opinion on it.
00:49:05.540Well, Trump's tax plan is being hammered out in Congress.
00:49:11.300And the Republicans are going ahead with what they call trillions of dollars in tax cut extensions because we don't want the current tax system to time out.
00:49:23.800It was scheduled to time out, and then taxes would have gone up.
00:49:29.080But he wants to increase some border security and some military.
00:49:33.940It looks like Rand Paul and Susan Collins broke with the party and voted against it.
00:49:42.480But what they're working on is what they call a fiscal framework.
00:49:49.520If you said, hey, I'd like you guys to come up with a budget.
00:49:54.780And instead of coming up with a budget, they came up with a fiscal framework.
00:49:59.220Would you think that they had done a job?
00:50:03.520If this were corporate America, and you knew that all these people were working on a budget, but what they returned to you with was a fiscal framework, that's almost like not doing work.
00:51:31.260But I think all the Democrats now are trying to find a get out of jail free card where they can give you some reason why it wasn't really their fault that they were supporting a candidate with no brain.
00:53:37.000So he says that apparently Zelensky had guaranteed that the deal was on and then kind of threw the U.S. under the bus by, you know, going into the White House and the knackling like it wasn't on or he was still negotiating and blowing it up.
00:53:54.500And here's what Scott Bessent thinks is the real reason the deal looked like it was going to be signed but then wasn't.
00:54:03.980Now, this is his own speculation, but he's pretty clever, so I think I'm going to go with him on this.
00:54:10.520He said, quote, he said to Tucker, quote, you know who doesn't sign that deal?
00:54:19.400Because apparently the mineral deal was designed in a way that was hard to skim.
00:54:26.300So that the Ukrainian people would have gotten a benefit and the American people would have gotten a benefit, but it would not have gone through the skimmer in between third parties who want to take their billion dollars from everything.
00:54:39.780And so it was the criminals who killed the deal because they weren't getting a cut.
00:54:47.280Now, he doesn't have proof of that as far as I can tell, but it would explain everything we saw.
00:54:56.940So the fact that it explains everything has some weight, but that's his opinion and I won't argue it.
00:55:04.240I guess the Supreme Court gave Trump a win on the DEI funding for schools, so now he's going to be allowed to block $65 million that the Department of Education otherwise would have granted to Democrat NGOs to promote DEI in schools.
00:55:22.160It's amazing to me that DEI is just flat-out illegal, and we still have to fight to defund it.
00:55:30.740How many illegal things that are obviously illegal, and the government has, you know, the current administration has declared illegal, how hard should you have to fight to not give money to the illegal thing?
00:55:48.060Speaking of that, James O'Keefe got on Hidden Video on his OMG company there.
00:55:55.340He got this NIH official who said that he was coaching researchers how to work around the DEI ban by using the word ancestry instead of race.
00:56:16.220I feel like, you know, the worst offenders are the white guys who just can't, they can't let go of their DEI because they have their jobs, so they want to make sure that, you know, no white guy coming up can get their job.
00:56:31.020Then, FBI Director Cash Patel says he's going after China's influence on American farmlands.
00:56:41.840China has bought a whole bunch of farmland in the U.S., and a lot of it is near our military bases.
00:56:48.300But, to me, this seems like as big an issue as it is, it seems to me like it's one of a thousand things that China's doing to the U.S. every day.
00:56:58.700Apparently, China's expenses for spy stuff on the United States is just through the roof.
00:57:09.740That's Fox News was reporting on that.
00:57:11.800Then, the European Union is still trying to censor Elon Musk on X.
00:57:20.200So, interesting, engineering is talking about this.
00:57:25.220So, the European Union, the regulators are trying to levy a billion-dollar penalty against X.
00:57:33.420And it's because they violated their European Digital Services Act, according to the New York Times.
00:57:44.640Now, we assume that all this is just a way to get to Musk and, you know, defang him and also to destroy free speech in the United States because X is the primary place.
00:57:56.280And if they can find a way to make it impossible for Musk to stay in business, then the last bastion of free speech in the United States will be destroyed by Europe.
00:58:09.460Probably with the help of Democrats in this country, but by Europe.
00:58:13.480Now, I've got to say this puts the future of NATO very much in question because I'm not willing to defend a country that's destroying free speech in the United States, no matter how cleverly they do it.
00:58:32.880You know, they create a set of laws and then act like it's for everybody, but then they really go after X and try to put them out of business.
00:59:36.700And they've got several of them that they're working on.
00:59:39.140They've got six of them they're playing with.
00:59:41.320And apparently, they're pretty close to having autonomous jets, at least the F-16s.
00:59:47.120Now, at the same time that we're putting these F-16s up autonomously, the U.K. has developed a drone killer laser weapon that only costs them $13 per shot.
01:00:03.380And it usually takes one shot to take on a drone.
01:00:07.020So, I'm not so sure that F-16 drones are going to last in the battlefield too long.
01:00:13.940Because, you know, you've got to figure all of our adversaries are going to have these $13 drone killing lasers, too.
01:00:21.400So, your drone better cost a lot less than an F-16.
01:00:30.560I don't know if the F-16 drones have much of a future.
01:00:35.140According to Ars Technica, most Americans think AI won't improve their lives.
01:00:41.400But the people in the business think it's going to be terrific.
01:00:44.020So, there's this gigantic difference between the people who are just casually reading the news about AI and saying, I don't think this is going to make my life better.
01:00:55.100And then the researchers and the techies saying, oh, man, this is going to be the most amazing thing.
01:01:00.900So, we're really not on the same page on this.