After Donald Trump's stunning presidential nomination, a small group of Never Trump advocates have been pressing forward with an attempt to recruit somebody to run as a third party candidate. Is it a good idea? Is it bad? And what s the best way to deal with it? All of these questions and more are answered in this episode of The Ben Shapiro Show with Ben Shapiro, hosted by Ben Shapiro ( ) on today's episode of the Ben Shapiro Podcast. Links From This Episode: All Previous Podcast Episodes Leave Us a Review On Apple Podcasts Subscribe To Our YouTube Channel Learn more about your ad choices. If you like what you hear here, please consider becoming a supporter of our show by becoming a patron. It helps us to keep bringing you high quality, high profile guests on the show. Thank you so much to our sponsors, including VaynerMedia. We look forward to seeing what you all think of the show and the work you do for us in the coming weeks and months. Thanks for listening and supporting us! Ben Shapiro and Ben Shapiro Thanks again for being loud and proud of what you do! -Ben Shapiro and the Shapiro Project Logo by Courtney DeKorte Music by Ian Dorsch and produced by Skandalous Art by Jeff Kaale and the Vigilante Graphics by Mark Phillips Additional music by Ian McKinnon and the team at the Electric Light Company This episode was produced and edited by Jake Chapman and Matthew Kuchta We are working on this episode was edited and mixed by Bobby Lord Our theme music is by Matthew McConaugte by Jeff Perla , and the music was done by Matthew McDermott for the excellent work by Daniel Ellsworth . and our logo is by John Rocha is in color by Matthew Boll thanks to the outstanding work by , & on black and white at the Goodfellows sojourno and ( ) with thanks to of the excellent editing by to the amazing thank you and , thanks to our band all of our thanks to my good friend please also we hope you all are listening to us and all of your support is amazing and we really appreciate it
00:00:00.000In the aftermath of Donald Trump's stunning presumptive Republican 2016 presidential nomination, a small group of never-Trump advocates have been pressing forward with an attempt to recruit somebody to run as a third-party candidate.
00:00:12.000According to the Washington Post, Republicans including Bill Kristol, Eric Erickson, Mike Murphy, Stuart Stevens, and Rick Wilson have been throwing out names.
00:00:21.000Senator Ben Sasse from Nebraska, Ohio Governor John Kasich, retired General James Mattis, and even, ridiculously, another reality TV billionaire, Mark Cuban.
00:00:31.000A viable third-party candidate could achieve a couple of things for conservatives who don't like Trump.
00:00:35.000One, it could consolidate support outside the Trump movement, providing the core for a rebuilding movement after Trump goes down.
00:00:42.000Second, it could theoretically throw a few key states to the third party candidate, stopping both Hillary and Trump from winning the requisite number of electors to gain the White House.
00:00:52.000If you don't get 270, it goes to the House of Representatives.
00:00:55.000And if it goes to the House of Representatives, throws the process into the House of Representatives, then presumably somebody else becomes president.
00:01:02.000So here's the case against doing any of this.
00:01:05.000There are five reasons not to run a third party candidate.
00:01:49.000We know Trump is a disaster for the GOP and the country.
00:01:52.000Hillary is a disaster for the country.
00:01:54.000We don't need to prove it by attempting to consolidate in a way that fails.
00:01:58.000Third reason, it's kind of tough to find a conservative who can unify Never Trump.
00:02:03.000So here's the thing, Trump's utter incomprehensibility as a Republican candidate, it underscores the fact that finding a consensus politician is kind of hard.
00:02:11.000All successful politicians have to build consensus.
00:02:13.000Kasich and Ben Sasse, for example, they have very little in common politically other than their opposition to Trump.
00:02:19.000Would that be enough to consolidate a real conservative opposition?
00:02:22.000Or would it instead fragment the opposition by providing an alternative that many members of Never Trump don't like?
00:02:32.000The Trumpsters are really looking desperately for an excuse to blame anybody but themselves for the looming electoral disaster that may await Trump.
00:02:39.000They're already saying openly, never Trump is going to bear responsibility if Trump fails.
00:02:44.000Consolidating the third party grants unmerited credibility to this particular argument.
00:02:49.000If Trump goes down, and all the betting markets say he will, the Trump advocates need to own it.
00:02:58.000It's better to sit this one out than be blamed for Trump's failures or cast out of the party altogether.
00:03:02.000No matter what happens, this is going to be four years in the wilderness for conservatives.
00:03:06.000But building an alternative party infrastructure is kind of unlikely and much more difficult than allowing Trump to demonstrate he's a historic black swan and then fighting for control of the GOP again.
00:03:17.000Listen, I'd be happy to vote for Senator Sasse over Trump or Hillary, of course.
00:03:42.000Alrighty, so here we are, and it's been a busy day for Donald Trump.
00:03:45.000Lots to talk about in Trump World, and we all live in Trump World now.
00:03:48.000Some of it's good, some of it's bad, all of it is interesting and fascinating, and as we said yesterday, we are dedicated to the proposition that watching the apocalypse with a comedic grin is more fun than watching it with a downcast glare.
00:04:26.000Donald Trump was asked about it, and here's what he said to the Washington Post, quote, It is a very, very small portion of the population, transgenders.
00:04:33.000But as I say, you have to protect everybody, including small portions of the population.
00:04:37.000Presumably, this means you need to have state legislation or federal legislation of the kind that President Obama is pushing.
00:04:43.000But then, of course, Trump takes both sides of the issue.
00:04:45.000He says that states need to make the right decisions.
00:04:47.000He doesn't really explain what that means.
00:04:49.000He says he hasn't had any exposure to these issues, and he's learning more.
00:05:10.000It's the greatest referendum on political correctness today, because there's the politically correct position,
00:05:15.000Which is that women can become men and men can become women and we have to force children to embrace this idea by putting boys in girls bathrooms.
00:05:22.000And then there's the politically incorrect position called science.
00:05:38.000The transgender bathroom issue is important.
00:05:40.000Not because of bathrooms, but because of transgenderism
00:05:43.000As a social construct, transgenderism as a concept, and the unmitigated attempts of the left to target your children in order to push their leftist agenda.
00:05:53.000So President Obama, always for the left, always for the left, it has to be done through schools and through children.
00:05:57.000They always have to push the left agenda through children.
00:06:34.000That was basically solved by two things.
00:06:36.000One, me standing up for myself, and two,
00:06:39.000My parents, and I've told this story on the air before, my parents going to the school and mandating that there be a crackdown on bullying generally.
00:06:46.000There shouldn't be bullying in schools, period, for any reason.
00:06:49.000You don't need to teach kids that heterosexuality and homosexuality are on moral par in order to stop bullying, and you don't need to teach them the idiocy that men can become women and women men in order to stop bullying.
00:07:00.000That's silly, but this is what the left says.
00:07:10.000And anybody who's been in school, been in high school, who's been a parent, I think should realize that kids who are sometimes in the minority, kids who have
00:07:40.000A different sexual orientation or transgender are subject to a lot of bullying, potentially.
00:07:51.000And I think it is part of our obligation as a society to make sure that everybody is treated fairly, and our kids are all loved, and that they're protected, and that their dignity is affirmed.
00:08:18.000And this idea that there's tons of gay kids who are seven and eight years old is also nonsense, but beyond that, this is a straw man saying that transgenderism and homosexuality are the same issue.
00:08:26.000They're not the same issue by any stretch of the imagination.
00:08:29.000In fact, homosexuality is sort of destroyed by transgenderism.
00:08:32.000Transgenderism says gender and sex are completely arbitrary, which sort of defeats the idea that men should only be attracted to men if you're homosexual.
00:08:55.000He's saying he has to stop bullying, he has to make everybody feel comfortable.
00:08:58.000How about the 99.999% of the population in these school bathrooms who feels uncomfortable when somebody of the opposite sex walks in and they're unclad?
00:09:08.000How about the little girls who don't feel comfortable with a boy peeing next to them in the bathroom?
00:09:12.000Those people have to be made to feel like bigots and feel uncomfortable?
00:09:15.000So the bullying thing really goes both ways, but there's a lot less- but let's put it this way.
00:09:19.000The bullying of transgender kids is a lot less of an issue for our government and our society than the federal government bullying everyone in the United States into embracing the idea that an 18-year-old man walking into a 15-year-old girl's locker room is suddenly okay.
00:10:00.000Well, supposedly it's because the left believes that sexual identity, sexual identity is unchanging and rigid.
00:10:07.000And sex itself, gender itself, is malleable.
00:10:10.000Therefore, if you teach kids that they get to choose your sex, since it's malleable, it's a social construct anyway, you're not doing them any harm.
00:10:16.000You tell a five-year-old girl to choose whether she's a girl or a boy, you're not harming her in any way, because that's all just social construct nonsense.
00:10:22.000Similarly, if you tell a five-year-old girl that lesbianism is fine, she's not gonna be more likely to try out lesbianism because she's already set in her ways.
00:10:31.000It's ingrained right there in the biology.
00:10:34.000Of course, precisely the reverse is true.
00:10:36.000You tell a five-year-old girl she can be a girl or a boy, you're gonna screw with her head.
00:10:39.000You tell a five-year-old girl that anybody she chooses to have sex with, when she's not even pubescent yet, right?
00:10:46.000That anybody who she will eventually choose to have sex with is perfectly morally hunky-dory and you think this isn't gonna change behavior,
00:10:53.000Particularly because science tends to show that sexuality is remarkably fluid.
00:10:57.000Sexual identity certainly is remarkably fluid.
00:11:00.000There's a reason that two generations ago, there's a poll in Britain recently, it showed for people who were born two generations ago, 95% say they're straight.
00:11:08.000Of people who were born in our generation, millennials, something like only 43% say they are binary straight.
00:11:22.000Their whole case is that parents should not be allowed to raise their children with traditional morality and traditional sex roles because that's bad.
00:11:30.000And that's bad because the government can't control the kids then.
00:11:32.000It's bad because traditional sex roles, the idea of man-woman marriage, creation of a family, it's an obstacle to government control of your child.
00:11:40.000And so what they do is they use the bullying agenda in order to come in and take control of your children by saying that if we leave it to you to educate your own kid, then your kid will end up being a bully and targeting other kids, which of course is absolute nonsense.
00:11:52.000So on that issue, where, you know, some real moral leadership would be good,
00:13:28.000Here's Donald Trump going after David Cameron, saying that, this is the Prime Minister of Britain, saying that, you know, we're not going to have a very good relationship.
00:14:52.000Unlike our president now, I'm a unifier.
00:14:54.000I'll say this, when I made the statement six months ago and there was a clamor only by the politicians, millions of people were calling and saying Donald Trump is right.
00:15:04.000You know that and so do I. People that live in Great Britain and people that live all over the world were saying Donald Trump is right.
00:15:11.000Okay, so he says that we're going to have a bad relationship, that Cameron and he will have a bad relationship if he's president.
00:15:17.000Good way to set off on his international tour.
00:15:21.000And again, there again you hear him do the routine that we talked about last week, which is, I may have said something wrong, but it was really popular, so that makes it okay.
00:15:28.000Yeah, there's something to be said even about this for Trump.
00:15:31.000So Trump is brash, he's bold, he says things no one else will say, and then he refuses to back off of them.
00:15:37.000Now, Donald Trump is laying forth his new strategy against Hillary Clinton, and his new strategy against Hillary Clinton is basically to hit her with everything that is possible to hit her with.
00:15:48.000In order for that to succeed, the media really has to be quite terrible.
00:15:53.000Fortunately for Trump, the media are quite terrible.
00:15:56.000So it feels like when the media are trying to cover for Hillary Clinton, they're trying to cover for Hillary Clinton.
00:16:01.000Trump has perfected an art that was first coined, I think by Newt Gingrich in 2012, of attacking the media as the as the unfair arbiter, and he's exactly right.
00:17:12.000Not only when they ran the deficit and the debt up during the Bush years, but also they elected the Tea Partiers in 2010 to get rid of Obamacare and do other great things that didn't happen.
00:17:43.000So at the same time they're saying that, they're also trying to tear him down.
00:17:46.000They're also trying to tear down Trump.
00:17:47.000So Scarborough himself says he doesn't like, he doesn't back Trump for president because of his Muslim policies, which is, of all his policies, if you're gonna target one that's truly awful, awful, awful, that one, for me, stacks well behind, let's start a giant trade war that destroys the international economy, and also, let's make sure that we nuke
00:18:08.000There are certain policies that seem to rise above that one, in my estimation, as far as dangerous.
00:18:13.000But the media that are building Trump up are also trying to tear him down.
00:18:17.000So, for example, on Sunday, Chris Wallace on Fox News Sunday, he says to Bob Woodward, Bob Woodward is of the Washington Post, and there's a report that the Washington Post is going to put 20 reporters on Donald Trump.
00:18:28.000And here's Chris Wallace asking Woodward about it.
00:18:30.000The Washington Post has 20 people working on every phase of Donald Trump's life.
00:18:37.000We've announced a month ago that we're doing a book and we're going to do stories as this evolves.
00:18:44.000The equivalent effort will be made on Hillary Clinton.
00:18:48.000I mean, it's traditional, and I think particularly in this campaign, which is one of those pivot points in the history of the country, we need to tell people everything we can find out.
00:19:54.000I mean, you don't get to claim that the guy who allegedly raped people is less bad than the guy who brought a swimsuit model to a bathroom and asked her to put on a bikini and then said she looked nice in the bikini.
00:20:07.000The New York Times reporters have now been ripped by even the women quoted in the story.
00:20:12.000These New York Times reporters appeared on MSNBC to talk about it.
00:20:15.000There's no single dimension to Donald Trump and women.
00:20:20.000And I think our story makes that clear.
00:20:22.000I think it makes it clear through the voices of the people we interviewed.
00:20:25.000What's your response to the reaction from Donald Trump so far?
00:20:28.000Well, you know, we spoke to Donald Trump for an hour and included his voice in our story and really valued the time that we got to spend with him on the phone.
00:20:38.000And we believe that at every opportunity in the story, we gave him a chance to sort of give his side of the story.
00:20:45.000And we'd be happy to continue talking to him about this.
00:20:47.000If he wants to get back on the phone with us and chat more about his experiences with women, we'd welcome that.
00:20:52.000I believe Roanne has asked for an apology.
00:21:08.000Now here are the women who are actually in the story talking about Donald Trump with Megyn Kelly last night.
00:21:14.000So at the time, when you're experienced with him, did he seem sexist to you?
00:21:21.000Well, you have to understand, you've got to put it in the context of the time.
00:21:23.000This was 1980, so everybody was sexist, and we were in the construction industry, so that was sexist.
00:21:30.000But as far as Donald was concerned, no, he wanted the best person, and he thought I was the best person, and he picked me.
00:21:37.000And so, the Times talks about a moment that you had with Donald Trump, where you started to think he was getting worse in that regard, that he was getting more sexist as the years went on.
00:22:36.000Slowly but surely, he started saying more things that surprised me up to this day.
00:22:41.000And I'm going to get the specifics of that, but I want to bring in Sonata, who, you have nothing but glowing things to say about Mr. Trump.
00:22:48.000You also experienced some language that may have been diminishing, but you say he was an equal opportunity offender.
00:22:55.000Well, listen, he's a businessman, and I know that he doesn't have the greatest history in terms of what he says about many women, but in a professional setting, and I was running four different projects in terms of marketing between 2003 and 2007, he was extraordinarily professional.
00:23:44.000Bottom line is that a lot of the women in the New York Times are quoting that they're not super on board with the New York Times attempt to tear down Trump.
00:23:52.000Donald Trump is almost invulnerable on these scores.
00:23:55.000Donald Trump, it's very difficult for them to take down Donald Trump on the he was mean to women routine.
00:24:00.000After they've blown all their credibility on Hillary Clinton.
00:24:03.000They really have blown a lot of credibility on Hillary Clinton.
00:24:17.000Do I think that Donald Trump is somebody, and the reason I say he's a sexist is just from this campaign, attacking Heidi Cruz, talking about Carly Fiorina's face, talking about Megyn Kelly bleeding from her wherever, Donald Trump saying back in the 80s that women ought to be treated like pieces of crap, Donald Trump constantly talking about women as pieces of ass for decades.
00:25:22.000But I fight very hard to pay as little tax as possible.
00:25:27.000Okay, and then he would go on to say to George Stephanopoulos that the tax returns are not only none of George Stephanopoulos' business, but that George Stephanopoulos worked for Hillary Clinton, and that therefore he doesn't get to ask him questions about it.
00:26:30.000Donald Trump tweeted out, no wonder the New York Times is failing.
00:26:33.000Who can believe what they write after the false, malicious, and libelous story they did on me.
00:26:37.000Those are all legal terms, false and malicious, libelous.
00:26:40.000And so Donald Trump says that he might go after the New York Times and his attorney has to walk it back.
00:26:45.000That's not the only time that Trump has targeted the media legally, which is the part where I start to say, well, hold on a second.
00:26:50.000Roger Stone, who is legitimately one of the worst people in all of American politics, he was on the radio, and he says that if Donald Trump is the president of the United States, he will take control of the FCC, which is an independent agency, and then force the FCC to reject CNN's license for broadcast.
00:27:09.000So he'll take CNN off the air if Donald Trump is president.
00:27:16.000I believe every one of these women are credible and telling the truth.
00:27:19.000But you have organizations like CNN, which is not a news organization, but an advocacy group.
00:27:25.000And if you attempt to discuss this on the air, and I've seen this done with Steve Malzberg and Kurt Schlichter and yours truly, they literally pull, they pull the cord on your microphone.
00:28:06.000The same boardrooms where they made the decision to have Donald Trump on The Apprentice and make him into a national media personality for the last 20 years,
00:28:13.000Those same boardrooms are the ones where they're now saying, what can we do to destroy Donald Trump?
00:28:17.000And the answer is, once you've made the Frankenstein monster, you have no capacity to destroy the Frankenstein monster.
00:28:23.000More than that, the media have actually done Trump a service by covering him over the top, over the top coverage of Donald Trump.
00:28:30.000Every scandal, every foible, every peccadillo, everything that Donald Trump does has been in the public eye for a generation, really a full generation in American life.
00:28:39.000Every time you schtup somebody, it's on the front page of the New York Post.
00:28:42.000You do that enough, and basically what you're really doing is you're vaccinating Trump against dirt.
00:28:47.000Because at a certain point, if you're entirely covered in dirt, another piece of dirt doesn't look like anything.
00:28:59.000And so it's very difficult to throw mud on somebody who's completely made of mud.
00:29:04.000At this point, he's a mud monster, and they made him a mud monster, so there's no way to take him down, especially since they told us that the mud monster was fun.
00:29:10.000They told us the mud monster was good and entertaining, that he was a playboy, that he was a gallant, that Donald Trump was the kind of guy who was squiring the most beautiful women, that he was Bruce Wayne in the Batman flicks, that he was squiring around two models on each arm in a Lamborghini.
00:29:26.000Right, that was Donald Trump, to Wayne Tower.
00:29:30.000And now when they say, well, you know, he's a really, really bad guy, it doesn't wash and it doesn't work.
00:29:35.000So, on the other hand, what they've been doing with Hillary is protecting her for years, and the Clintons, they've been protecting for years.
00:29:43.000So instead of just exposing the public to all of the Clintons' dirt, they've been burying the Clintons' dirt.
00:29:48.000And this juxtaposition is really good for Donald Trump, really good for Donald Trump, not bad, good.
00:29:53.000On the one hand, the media have vaccinated him against dirt.
00:29:56.000On the other hand, the media have basically done, for the Clintons, what overprotective parents used to do for their kids back during the polio days.
00:30:03.000In the 1930s, before the polio vaccine, rich kids actually had an outsized chance of coming down with poliomyelitis.
00:30:10.000The reason for this is because they weren't out in the streets playing in the dirt, so their immune system had not been built up to handle polio.
00:30:17.000So if they got polio, then it was much more severe for them.
00:30:20.000Okay, that's the Clintons with regard to the media.
00:30:22.000The media have protected the Clintons in this magic bubble, like John Travolta in the Bubble Boy.
00:30:26.000They've protected them with this media bubble for so long that if anyone pierces the bubble, it's really damaging.
00:30:31.000The Hillary Clinton immune system is not built to handle this.
00:30:34.000She only has one response, which is, Oh, I'm always being attacked by the vast right-wing conspiracy.
00:30:39.000Nobody cares if the dirt is good and juicy.
00:30:42.000Nobody cares if the stuff that's being thrown against the wall sticks.
00:30:45.000So, take for example, here's the juxtaposition.
00:30:48.000This is what the entire race is going to be like.
00:30:49.000That's why it's going to be wildly entertaining to cover.
00:31:49.000This is a crappy ad for a variety of reasons.
00:31:51.000So folks, if you can't see it, this is why you need to subscribe to Daily Wire so you're up on the news.
00:31:55.000Subscribe to this podcast so you're up on the news and you can actually see what we're looking at.
00:31:59.000It's not just they're playing audio of Donald Trump there.
00:32:01.000They're also having women mouth what Donald Trump is saying while wearing t-shirts of Donald Trump, which is visually confusing.
00:32:06.000It's just visually, you're looking at this and going, why is this black lady mouthing Donald Trump's words with a picture of Donald Trump on her face, on her chest?
00:32:25.000Problem number two is that the music behind this, and this is just a basic semiotic thing, the music behind this, if you're going to do a Donald Trump is scary for women ad, you need to use scary music.
00:32:36.000It needs to be Donald Trump is scary for women.
00:33:43.000Amazing that Crooked Hillary can do a hit ad on me concerning women when her husband was the worst abuser of women in US political history.
00:33:50.000And this is the part where Donald Trump...
00:34:13.000By any stretch of the imagination, that's true.
00:34:16.000It makes it very difficult to say, oh, it's terrible that Donald Trump said she's bleeding from her wherever, when your husband was literally raping people and you were threatening the rape victims.
00:34:41.000And he's about to kill Hillary Clinton.
00:34:43.000Her candidacy is going to die at the hands of a 73-year-old, almost inert virus.
00:34:48.000What happens when there's an actual virus that attacks her in the name of character attacks?
00:34:52.000So the best tweet that Trump tweeted today was actually none of these.
00:34:56.000It was Trump's tweet on Hillary's claim that she was going to have Bill handle the economy.
00:35:00.000So Hillary came out and she said, Bill won't be a member of my campaign or a member of my cabinet, but he will be a member of, he will be the guy who handles the economy, is what he says.
00:35:10.000He'll be the guy who handles the economy.
00:35:13.000So, Donald Trump rightly tweets, quote, Crooked Hillary said her husband is going to be in charge of the economy.
00:35:24.000For people who don't know what the Energizer is, the Energizer is a reference.
00:35:28.000In Ronald Kessler's book about the Secret Service, it's a reference to Bill Clinton's blonde mistress, who is squired in to Chappaqua every time Hillary Clinton goes out of town.
00:35:37.000Right, so the implication here, right?
00:35:40.000Donald Trump is not afraid to just throw the kitchen sink.
00:37:36.000Now, you are entitled to your opinion, but you're not entitled to your own facts.
00:37:51.000And I'll be happy when I finish talking to everybody else for you to come over here and you can tell me what you're saying and we can talk and we can hear what's on your mind.
00:38:04.000But I'll tell you what the truth is and you know it's time people stopped listening to Republican propaganda.
00:38:11.000Okay, first of all, okay, so quick note.
00:38:14.000I used to watch the Behind the Rings of Lord of the Rings, right?
00:38:16.000And the Behind the Rings of Lord of the Rings, which is my favorite film trilogy.
00:38:20.000And one of the things they talk about is how they created the voice of the Balrog.
00:38:24.000Okay, how they created that voice, how that sound effect was made.
00:38:27.000And what they did is they took legitimately the sound of a brick,
00:38:34.000Uh, like a gravel brick, like a, what do you call it, a cinder block.
00:38:37.000Like, they took a cinder block, and they rubbed it against another piece of cinder block, really slowly, and then miked it up.
00:39:53.000I'm trying to remember which school this was.
00:39:55.000I think this is Virginia Tech, I think.
00:39:58.000I was speaking at Virginia Tech, and I was confronted by someone who disagreed, and you'll see how it goes.
00:40:03.000And I'll describe it to you if you don't subscribe.
00:40:05.000But again, subscribe, folks, so that you'll get the joke.
00:40:07.000It's very difficult for me to see how it's not a privilege to get a lower score on the SAT than the Asian guy who's living in exactly the same circumstance.
00:40:15.000He gets penalized 50 points, you get 230 points on the SATs.
00:41:18.000Okay, so, folks, you can't see these things.
00:41:22.000Basically, the system of marriage has been raised to elude women of all time, and then feminism came along and said that women need men like fish need a bicycle, and it turns out that women need men like women need men.
00:41:36.000So somebody took all of these clips of doing stuff.
00:41:39.000The reason you're hearing this obnoxious kind of rap track underneath, folks, if you're listening, is because somebody took these clips of me, and then they did like a freeze frame of me, and they put a blunt in my mouth, and a- and like a gold chain around my neck, and then it says thug life.
00:42:50.000And one of the problems with the economic collapse, one of the reasons we had an economic collapse, was because of the politicization of our economic system via the federal government.
00:42:58.000So the subprime meltdown, the subprime crisis, was caused in part because the federal government felt that minorities were being systemically discriminated against, systematically discriminated against.
00:43:09.000So what they did is they gave tremendous incentives by the federal government to give subprime mortgages to minority buyers of homes who couldn't afford it.
00:43:18.000And then it turned out they couldn't afford it because the reason banks weren't giving them loans is because they had bad credit or because they couldn't afford things.
00:43:24.000So then everything went south and it all imploded.
00:43:27.000The lesson Democrats learned from this is that we need more of that, not less.
00:43:30.000So Hillary Clinton has a new plan for the Federal Reserve.
00:43:33.000The Federal Reserve, for people who aren't versed in economics very much, the Federal Reserve is a, there's something called the Federal Reserve Board, and it's seven governors who are appointed by the President and confirmed by the Senate.
00:43:43.000And then another 12 regional presidents of banks, Federal Reserve banks across the nation.
00:43:48.000The Federal Reserve was instituted in 1913 to do a few things.
00:43:51.000The first thing it was really instituted to do was insist that federally chartered banks, federally licensed banks, kept a certain amount of their money in reserve in case there was a panic and a run on the bank.
00:44:02.000The reason that banks used to go bust is because everybody would show up at the same time and say, give me my money.
00:44:08.000Everybody shows up at the same time and they, or in Mary Poppins, everybody shows up at the same time
00:44:13.000And there's what they call a run on the bank, and a lot of the money isn't there, right?
00:44:16.000Because all the money has been lent out to other people for their various projects.
00:44:20.000So what they said is, your deposits are guaranteed.
00:44:23.000So there was a guarantee by the Federal Reserve that up to a certain amount of money, I think right now it's $250,000, if you put that in a federally deposit, if it's part of the FDIC, then it's going to be insured that money is available to you, even if the bank were to, for some reason, go bust.
00:44:39.000The other thing the Federal Reserve does, and it's much more powerful, is they lend out money to these banks at a prevailing interest rate.
00:44:45.000This is why whenever you see Janet Yellen set the interest rate, what she's doing is she's setting the rate at which banks can borrow from the central bank to make loans to other people.
00:44:53.000So if you have a high interest rate, what that means is less loans are being given to people, and that means there's less inflation in terms of real price.
00:45:00.000Right now, if it's the opposite, if the interest rates don't exist, then banks can take out loans and they can invest it in the stock market, which is why the stock market has gone up, or invest it in real estate.
00:45:10.000Now, there's an argument to be made that the Federal Reserve shouldn't do any of these things.
00:45:14.000That basically, the monetary supply should be the monetary supply, the government should not mess around with it, it should always be what it is, you can't just print dollars to get out of government debt, you can't just print dollars to bail out banks, right?
00:45:24.000That's a good case, I tend to agree with it.
00:45:32.000You'd probably want the people on it to be economists, people who are familiar with banking, right?
00:45:37.000You wouldn't want it to be a political agency.
00:45:39.000Hillary Clinton has now come out, and she says, we need more black people, and we need more women on the Federal Reserve, and we need less bankers on the Federal Reserve.
00:45:47.000So she presumably wants, like, DeRay McKesson on the Federal Reserve explaining to people why it is that we need to inflate the currency for the sake of black inner-city communities.
00:45:56.000If you want to destroy the American economy and destroy the value of the dollar, put a bunch of political hacks in charge of the Federal Reserve.
00:46:03.000Put them in charge of the Federal Reserve.
00:46:05.000By the way, when that's happened before, when Richard Nixon, for example, used the Federal Reserve in order to manipulate currency, manipulate the inflation rate in the 70s, it led to a malaise that lasted most of the decade and included the Jimmy Carter administration.
00:46:18.000Hillary wants to do that same thing, but she wants to fully politicize the Federal Reserve, which is just a genius idea on every level.
00:46:27.000And we will part on an even-handed note
00:46:30.000Roger Stone, who we quoted earlier, Trump's surrogate.
00:46:33.000You got Hillary Clinton, who wants to take control of the Federal Reserve by putting in charge a bunch of people on diverse bases.
00:46:38.000And then you have Roger Stone, who says that Donald Trump, you know, when Donald Trump was acting as his own PR man and using a fake name, as we played yesterday, Roger Stone is about to tell you why there's such a grand history in American tradition of doing this.
00:47:11.000By the way, he's actually pretty effective at dealing with the press, if we haven't seen that from the course of this campaign.
00:47:19.000Well, and let's face it, there are just far more important questions before the American people about what, other than whether Donald Trump, you know, essentially acted as his own PR agent 20 years ago on a personal matter.
00:47:32.000I just don't understand the relevance.
00:47:33.000Okay, so we can cut it off there, but the best part of that was where Roger Stone suggests that Donald Trump acting as his own PR agent to talk about who he's schtupping this week is the same as James Madison and Alexander Hamilton using pen names to write about
00:47:46.000The Federalist Paper is about the Constitution.
00:47:50.000You have to be fully stupid to believe this.
00:47:52.000But I guess, honest to God, you kind of have to be fully stupid to believe that either one of these people is going to be a great president in any way, shape, or form.
00:48:00.000But we'll be back tomorrow to cover more of the unfolding circus as it unfolds before us with laughter in our hearts and tears in our eyes.