Best of the Program ｜ Guest： Carol Roth ｜ 4⧸7⧸25
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Summary
The Dow and S&P 500 hit new all-time low levels on Monday morning, and it only got worse from there. Glenn and Stu recall Black Monday of 1987, and Carol Roth joins them to talk about the psychology behind the human psyche of thinking, "I could outrun a horse."
Transcript
00:00:00.000
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Learn more at scotiabank.com slash banking packages.
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flashback to 1987, see how bad that day actually was.
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Also, what's behind the human psyche of thinking,
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And Carol Roth joins us all on today's podcast.
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Pain has a really funny way of convincing you to settle.
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Anything's going to change because this is probably only going to get worse.
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You start planning your day around things that hurt less.
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If you hear nothing else, let me whisper this in.
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One thing I want you to explore is Relief Factor.
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It's like Z-Factor, which is offered for sleep.
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And that's the source of most of the pain and our disease.
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And when my wife said, try Z-Factor, I was like, that's not going to work.
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You can get Relief Factor's three-week quick start.
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You're listening to the best of the Glenn Beck program.
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Things are, they're going to get a little bit better.
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The ups and downs of the market every 10 seconds.
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When you're not concerned, it's almost the worst possible thing.
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I'm actually, I'm actually okay through all of this.
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I'm not like panicked or, you know, or anything.
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That's because you're an evil rich person, Glenn.
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Lost a lot of money last week as an evil rich person.
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No, just don't think that it was, I don't know.
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I think this is, people are always so tough on Jim Cramer.
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He goes out there and he makes a bunch of stock predictions.
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You know, bloodbath, crash, Black Monday, Asian markets sliding as we speak.
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We are now 21 minutes and 26 seconds away from the open.
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We've had, what, two or three really, really bad days in a row.
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I don't think we'll see another whole, like, it would be surprising.
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Even during COVID, I'm thinking back to the COVID days when, like, there's a real reason
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Like, we're just turning all of our businesses off for six months.
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In that period, though, we still saw days of big gains.
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So, I would think that it's going to bounce around wildly is what we're going to see until
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And if it continues to escalate, like, for example, we put all these tariffs on China.
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Like, what Donald Trump promised going into this is that he would, if you raise tariffs
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on us, we're going to continue to raise them on you, right?
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I don't, I don't think, I don't want that to happen.
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But if he, if he could, if he goes there, and then China goes there, and we have this
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escalation, I would assume we're going to, this is going to last longer.
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So far, you have 50 countries that have asked to negotiate the tariffs.
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They're like, um, we've, we've, we've, we've rethought this.
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So if a country turns them to zero, we should go to zero would be your policy.
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I mean, their, their response to Vietnam was like, great, now buy more of our stuff.
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Like, like, so Madagascar, for example, this is one that is on our list.
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Because where else are we going to get talking animals?
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So, Madagascar, we have a trade deficit with Madagascar.
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We really love, we, Americans love their freaking vanilla beans.
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Okay, so we take in a lot of their vanilla beans.
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You'll be surprised to hear that the people of Madagascar have very little appetite for our
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In fact, they don't have any money to buy anything that we sell.
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That one seems to be, like, one we should negotiate, you know?
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We should, on our side, we should be like, okay, Donald, Madagascar, we might want to
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Because they have, we have a trade surplus with them, largely because the things that
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The things that they export, which are actually also valuable-
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There was an article about this that I was reading recently that, like, metals was the
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example where we were pretty good at coming up with that stuff ourselves.
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I don't know where helium balloons come from, but whatever that country that is, we have
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There's a reason why we have a deficit or a surplus.
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So, there shouldn't be for, like, a place like Ireland.
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I mean, you know, we buy a lot of Lucky Charms.
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Because we've made, like, seven or eight of those.
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I banned those already in my own private little kingdom.
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So, we are possibly looking, and the reason why they're saying it's, you know, this could
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I don't know if anybody remembered Black Monday.
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That would be looking at almost a 10,000-point plunge today if it was Black Monday.
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Well, it wouldn't happen because we'd close the market.
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Because after Black Monday, we were like, we should close the market.
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When that happens again, maybe we should just go, everybody needs to take a breath.
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We, you know, by the 87, we were seeing cracks because of greed, basically.
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Deregulation, tax cuts, a sense of invincibility.
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We always go through these cycles, and everybody started to get greedy, and buying stocks, and
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then it just went too high, and we had problems with computers and everything else, and boom.
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It was an actual reaction to Trump and his tariffs.
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What we're not talking about is this is the Great Reset.
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We had two ways to go, and Donald Trump never said it this way, but I thought I had articulated
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this, and maybe I hadn't clearly enough, and I've been trying to say it for the last few
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So, the first choice was what Klaus Schwab was doing, where we could all eat, you know,
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Go all globalism and push everything up to a global government.
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All of the stuff we've talked about for the last five years, that's real.
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Donald Trump came along and said, don't like that.
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The problem is, you can't just not do that, because the problems are real.
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The solutions, the way the world works now, no longer works.
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So we need to update the system and repair all of the damage that has been done for the Great Reset.
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To manage the decline of the West, just to keep it going enough so nobody really,
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and then it'll come in one violent shock, and everybody will be like, oh my gosh, panic.
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And that's when they will finally change everything and make the final switch.
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So, Donald Trump, we elected him because we didn't want that, right?
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If you thought you were going to get a replay of 2016, you're mistaken, because this time he gets it.
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Remember we said, you know, the 2020 election was really good, it turns out,
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because he had time to think and realize what he was fighting and where everybody is and make a plan?
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And he told us, now he didn't say about the Great Reset part, but he told us that we're going in a completely different direction.
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So, it will be an America first, and anybody else that wants to join us, you know, England first, whatever,
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we'll all get along, we'll trade, but we're not going to do it the way the globalists have done it.
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So, what we're going through now is the shock to the system of the beginning of the shaking off the calcification of this system
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and restarting the engine and saying, we're going in a different direction.
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And so, all of the gears and everything that has been turning one direction now for almost 100 years,
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and especially in the last 25 to 30 years with the Great Reset and the WEF and everything else,
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all those mechanisms, all those gears that have been going one way only,
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all of a sudden are grinding to a halt and reversing.
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I mean, I was expecting that I would see progress on the border.
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I was hoping I would see more regulation cuts by now because those two things are vital
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before you put in the tariffs or at least right after you put in the tariffs.
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I don't know why he's not pounding his fist on their heads right now to get that job done.
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And this is going to – this is why Donald Trump said over the weekend – what was it?
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But this is an economic revolution and we will win.
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It's about changing the entire system away from that system, which was pounding America
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I would – I think Donald Trump had a – what I expected from Donald Trump.
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There's no reason to believe this won't bounce back and we'll – you know, this is – I'm
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not at all – we still have to see how all this works out.
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We're nine minutes and 38 seconds away from the opening bell.
00:15:51.160
But I think it's reasonable to look at when Donald Trump re-election and say to yourself,
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there are some things that went well and some things that didn't go well.
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And what I would – what I did expect was him to continue with the policies that went
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well, the areas – like, for example, the economy.
00:16:10.440
I think the economy went really well during his first term.
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And I thought we would get more of those policies and that similar approach.
00:16:17.740
And then in, you know, something like the border where –
00:16:24.600
I know, but he never – he never – he never gave any indication he was just going
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to rearrange the chairs at the same table again.
00:16:33.820
I mean, he said we had the greatest economy we've had in a long time.
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However, to get there, you can change the levers and make things work a little better,
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Until you stop the spending, until you change the fundamentals of how this economy works,
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I don't remember ever hearing a speech of Donald Trump saying he was managing the decline
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I don't think – he walked in, he didn't realize how deep this went.
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Stu, we didn't realize – when did we find out about the Great Reset?
00:17:17.260
That's when we found out about the Great Reset.
00:17:19.780
I mean, nobody knew that this is really – we didn't know how deep this was.
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It's just hard to – I mean, look, again, he did hit these things.
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I'm not trying to – but, like, the cure to the Great Reset is, you know,
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Richard Trumka's policy platform for the last 30 years.
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I mean, it's the same tariffs the guy's been calling for forever.
00:17:45.520
Yeah, but that's not all that he's calling for.
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This is the best of the Glenn Beck program, and we really want to thank you for listening.
00:19:20.580
The market bounced back after it was released in the news that Donald Trump may consider a 90-day pause.
00:19:35.200
And then all of a sudden, it dropped back down again.
00:19:45.100
Not sure what happened until we checked the news.
00:19:48.620
It seems like all these media organizations reported an interpretation from some social
00:19:56.360
media user of an interview in which the interview was like-
00:20:14.300
So we have Trump, and then we have the Trump official, and then it's somebody on social
00:20:21.220
media doing an analysis of what that Trump official said.
00:20:31.680
National Economic Council Director Kevin Hassett.
00:20:35.020
And basically all he said was like, look, I think the-
00:20:38.220
He was asked by Brian Kilmeade, would Trump consider a 90-day pause?
00:20:43.960
And has it said, I think the president's going to decide what the president is going
00:20:48.760
Well, that means, yes, he's going to consider a 90-day pause.
00:20:56.620
We go off the air and go into the commercial break, and then it's all reversed, and the
00:21:02.780
I think we should probably slow down a little bit.
00:21:07.200
The only reason we even brought it up is to discuss why the market moved, and it was
00:21:18.980
It's official, it's breaking, White House now just says 90-day pause is fake news.
00:21:23.520
So it's not, there's no pause, and so now the market's down again.
00:21:29.180
I will say this, Glenn, and I don't know what you think about this as far as politics
00:21:33.260
Again, taking out of where we end up on all of this.
00:21:36.160
We've had, we'd have really bad economic times before, right?
00:21:40.160
COVID, housing crisis in 08, you know, the bursting of the bubble of the internet back
00:21:51.640
All of those, though, came from what seemed like an outside event, right?
00:21:59.680
Seemed like, like you had talked about the housing policies and what led to the housing
00:22:07.260
So there were policy, policies that were directly associated with that.
00:22:11.840
But that's not how the American people took that.
00:22:14.160
It felt like it was like, oh gosh, the housing market just crashed, right?
00:22:19.080
You know, this one, I think to the American people, right or wrong, is going to feel like
00:22:27.100
And I'm wondering, I'm worried about how they interpret that.
00:22:30.180
So let me, let me, let me help you out on that.
00:22:32.180
That's because people did not interpret the stock market and what's going on in our economy
00:22:40.040
It's all this bogus money that the Fed keeps printing and putting into the system with
00:22:48.640
The, the stock market is no longer tied to anything real.
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And everybody, everybody just bypassed that and went, wow, things are really good.
00:23:04.560
I think they sensed the weakness though, during Biden, right?
00:23:12.560
I think the optimism for Trump's policies launched into another stratosphere.
00:23:23.360
That is a, uh, yeah, I'd like some tariffs and a diet Coke.
00:23:32.720
You're not going to get it by the time you get up to the window.
00:23:35.820
But I think that that is the, that's the point I'm bringing up.
00:23:38.840
Which is, I think that's how a lot of people consume things.
00:23:47.340
People who are supposedly, you know, educated, they turn that thing on a dime.
00:23:53.500
But that, that's people who are really engaged, right?
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And they're overreacting to, to news that they're seeing.
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The average person is not even following this on a day-to-day basis.
00:24:02.740
All they're seeing is the, they're seeing that general downturn.
00:24:06.600
And if that continues with them, I, I wonder if this is going to be seen.
00:24:11.360
If, if this is, turns into a recession, which it's not yet.
00:24:14.560
If it turns into a long-term negative consequences, it is a, it could be seen as essentially Trump's fault.
00:24:20.740
Which means that the entire movement has, has problems.
00:24:24.200
As opposed to like COVID, what people saw was, okay, there's, it's China released this virus or it started in China.
00:24:31.200
No, they blamed it on Trump because the media did.
00:24:33.320
I don't think the, I don't think he took, I mean, I think he won in 2024 because of what people remembered from his economy in 2019.
00:24:41.480
They looked at 2020 as some outside thing he couldn't do anything about.
00:24:45.740
Well, the economy was doing really, really well.
00:24:56.380
You know, the stuff that he did that made sense at the very, you know, the very beginning.
00:25:01.440
I, I, I, I remember that being more broad an argument than it wasn't.
00:25:06.320
No one thought it was Trump's fault that the economy crashed because of COVID.
00:25:10.000
You can blame him and say, Hey, I don't think he should have locked down.
00:25:22.680
So I think it's just, I mean, I think that's just the, the ill-informed again.
00:25:27.540
And that's, I mean, let me, let me give you the survey.
00:25:34.660
Out of, out of 50 men, if you ask them in a hundred meter sprint, can you beat a horse?
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So we assume a normal horse running on a normal speed.
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Because, you know, a racehorse can run 40 miles an hour.
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That's the one they say is number 15 on the big charts of animals I could beat.
00:26:48.540
I'm going to just pass that off on maybe you don't think zebras actually exist.
00:27:08.280
A cheetah would be the one I would think would be the lowest number.
00:27:17.400
I don't even know what a mongoose is, so I'm going to give that one a pass.
00:27:33.460
Why wouldn't people just run if the bees, when you're being swarmed, just run?
00:28:00.160
When I see a, I'm thinking of a goat, they're kind of like,
00:28:26.140
But I, you know, like a hippo doesn't seem like a fast animal.
00:28:36.220
Oh, they're fast and they'll stomp you to death.
00:28:47.480
Why don't we just tell that to the African nations?
00:28:49.840
Just be like, guys, tell your people to outrun the mosquitoes.
00:28:58.120
Yeah, see, like an elephant doesn't look like it moves quickly, but the strides are large.
00:29:18.120
I, I, look, I can, I'm not saying I would, I would say that I could outrun an elephant,
00:29:23.000
but I can understand why someone might say that.
00:29:32.300
That's the only reason why we're at the top of the food chain is because we're like,
00:29:45.540
Because then it'll be dead and you can walk away from it.
00:29:49.280
So we don't, we have a pretty healthy, we have a pretty healthy view of ourself.
00:29:55.420
10% say that they have actually, sorry, 28% say they have actually been out in the wilds,
00:30:04.000
someplace, and clocked an animal and thought to themselves, I can outrun that.
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Now, out of those showdowns, mainly with dogs, 61% have tried to, you know, race their dog.
00:30:35.200
But 60%, only 60% say, yeah, I couldn't, I couldn't, I couldn't run.
00:30:48.640
I mean, I think we both, I talked to the goat afterwards and I'm like, you agree, right?
00:30:53.480
I mean, we finished, I mean, basically we're at the same place, right?
00:30:58.620
So, you know, you might've run double the distance, but you have double the legs.
00:31:11.380
18% say they would back themselves to beat somebody in an arm wrestling match.
00:31:35.140
It's probably because of what men have said to women,
00:31:37.960
that you're not strong enough to beat a big, strong guy, right?
00:31:44.440
72% of all respondents admitted men are more likely to believe that they could beat an animal
00:32:01.700
But some people, one in 50, believe they can out swim a dolphin.
00:32:21.660
You put one on the beach, I'll beat him every single time.
00:32:34.880
You're streaming the best of the Glenn Beck program,
00:32:37.260
and you can find full episodes wherever you download podcasts.
00:32:42.200
You know, Glenn, I told you several times that this year was probably going to be
00:32:48.060
a historic economic year, and we probably see things that we haven't seen before
00:32:52.980
or didn't imagine, and unfortunately, I'm living in the middle of all of that right now.
00:33:01.520
I mean, I think maybe we should stop panicking just a little bit.
00:33:06.420
I mean, it started with, it's going to be Black Monday,
00:33:09.300
and then we had this weird thing about an hour ago where it's released.
00:33:17.680
Donald Trump is reconsidering the tariffs, putting a 90-day pause on it.
00:33:21.460
Stock market zooms up, and within a couple of minutes,
00:33:32.640
We should probably slow down just a bit, maybe.
00:33:35.400
Yeah, the challenge for me, Glenn, you know, when I think about the stock market,
00:33:39.060
there are so many people who are worried directly about the stock market,
00:33:42.900
and I'm not as much directly worried about the day-to-day machinations.
00:33:53.080
I even, I think, mentioned multiple months ago that I felt that the stock market was overvalued.
00:33:57.760
I am not so much concerned about that because stocks go down,
00:34:01.160
and like we saw, when good news happens, stocks are going to go back up again.
00:34:06.680
My concern are what I consider the butterfly effects.
00:34:10.320
The butterfly effects, you know, is when a butterfly flaps, it swings,
00:34:13.580
and that makes, you know, kind of an air current.
00:34:18.920
So there are two things that I'm very much worried about in terms of that.
00:34:23.180
One is that if this happens over a long period of time,
00:34:27.800
the stock market is actually a pretty major driver of tax receipts.
00:34:32.780
And we've talked about this choreography and this math before,
00:34:37.940
The Biden administration left us a horrible fiscal position.
00:34:41.140
And the butterfly effect is that if we do not get enough receipts because of capital gains,
00:34:47.700
because of consumer spending, you know, whatever it is,
00:34:50.560
that we're not going to collect enough revenue into the government,
00:34:54.660
and that will actually end up exploding the deficit.
00:35:01.800
The second is the downstream effects on Main Street.
00:35:06.180
Main Street, as we know, has been beaten up for five years.
00:35:17.940
They do not have the wherewithal to weather the machinations and the changes.
00:35:23.680
You know, big companies, they have big balance sheets.
00:35:27.720
But the small companies that have been hanging on by a thread, you know, that is an issue.
00:35:33.080
And so when, A, if they have the direct tariffs, and I have many clients and companies that have
00:35:38.280
come to me that have direct tariffs, people who take it, who import from overseas because they
00:35:44.200
don't have another choice currently, who've seen containers that used to cost four figures,
00:35:49.240
now costing, I'm not exaggerating this, six figures.
00:35:52.620
And that's going to increase with the announcements from, quote unquote, Liberation Day.
00:35:56.600
Or if you're not directly importing and consumers are pulling back because of the reverse
00:36:01.600
wealth effect, their 401ks are down, they're worried about the economy, that's also going
00:36:08.300
So I think when we talk about the issues of Wall Street, we really need to bring it home
00:36:13.180
to Main Street because that is the backbone of the economy.
00:36:17.620
So President Trump just tweeted a minute ago, you know, did you see this?
00:36:27.460
Yeah, basically, come on, guys, let's pull ourselves together.
00:36:35.500
But how do you tell a small business who is expecting to pay $6,000 to bring in a container
00:36:42.900
and now has to spend $150,000 to bring in a container and has beaten up for four years
00:36:50.180
Unless they're going to come out, if they're going to exempt small business from tariffs
00:36:53.480
and find a way to return it to them, you know, this is not a panic because, you know,
00:37:01.380
If this is, I'm going to have to fire people, I'm not going to be able to pay my bills, I
00:37:06.260
may not have a company in a few months if this continues to go on.
00:37:12.800
And I will note, Glenn, that the people who talked about government freedom during COVID,
00:37:17.600
that the government should not be creating barriers for companies, are the same people
00:37:22.560
who are cheerleading small businesses having barriers and saying, well, if we don't like
00:37:27.900
the way you're doing business, you don't deserve to be in business.
00:37:30.880
And it's starting to sound like a lot of people who are, you know, fans of Trump.
00:37:37.380
But there are some diehard fans who are starting to sound a lot like leftist Bernie bros right now.
00:37:43.620
So I am against, you know this, I've been against tariffs and always have been.
00:37:49.780
Uh, however, I feel as though we, this is not a surprise to any of us, none of us, we knew
00:37:57.660
We also know that, uh, he is, he's actually gunning for the entire global system.
00:38:06.100
He's, I think the way, the reason why it's called liberation day, why he called it liberation
00:38:13.900
When that war was over and we put that system into place that we've been using since 1945,
00:38:27.080
He is going the opposite direction of the globalization, et cetera, et cetera.
00:38:31.860
And I think he is, he's, he is churning absolutely everything.
00:38:40.700
He even said, well, I didn't say it would be ugly.
00:38:45.020
And I don't think he, I don't, I don't think people understood everything that he's taking
00:38:50.520
And I feel as though I am nervous about the effects because I see it too.
00:38:57.280
My friends, my friends who have small businesses, they buy anything and it, it's not like they're
00:39:03.420
They may have one part, but it's an important part or the only part they can get from that
00:39:11.340
So they, they're going to have to buy that part, whether they like it or not.
00:39:17.420
Um, but I'm, I'm not sure this is a really long-term thing.
00:39:22.200
Do you, I think he's, I think he's playing chicken with the rest of the world.
00:39:27.320
So here's the thing is that you said that, that Trump said this, Trump says lots of things
00:39:32.340
and we've all known to take him seriously, but not literally.
00:39:35.800
So we all had an expectation that he would probably do something with tariffs.
00:39:40.460
I think that what we didn't expect is that he would do it first.
00:39:43.820
We thought that he would do deregulation, get, you know, some of the, the tax cuts made
00:39:49.260
permanent, do some of those things to juice growth and then turn the intention.
00:39:53.320
And so the fact that we didn't have that optimism streak extended before he attacked that, I
00:40:00.780
I also think the scope, by the way, I think the scope was a mistake and they're just living
00:40:05.360
with it because they were supposed to be reciprocal tariffs.
00:40:08.920
A reciprocal tariff would have been, Hey, they're charging us 700% on rice.
00:40:13.140
We're going to start charging them 700% on rice, or there's charging us 20% on this.
00:40:24.820
They came up with some insane formula that was based on a trade deficit divided by imports.
00:40:33.620
And I think that, by the way, a lot of people are saying they think that that was a mistake
00:40:36.660
and nobody checked the math on there and now they have to live with it.
00:40:40.500
And I think that's the concern that had this been 10% across the board for everyone, had
00:40:46.100
this been truly reciprocal, you would have a very different tenor that all of a sudden, you
00:40:51.940
know, we're putting 30% and 40% and 50% tariffs on countries and really escalating things.
00:40:59.580
And I also think the communication here needs a complete overhaul because there are a lot
00:41:06.200
of different things that are being said that are in conflict with each other.
00:41:10.720
I really hope that this is an art of the deal, that this is, you know, a blunt hammer approach,
00:41:18.060
I would have done a cocktail party or something, but a blunt hammer approach.
00:41:28.360
But there are people who are making actual, like, ridiculous arguments that are in conflict
00:41:35.120
You have some of his spokespeople out on TV saying things like, oh, we're going to raise
00:41:40.900
a bunch of money and eliminate taxes, at the same time saying they're going to try to take
00:41:47.600
Well, those things are in conflict with each other.
00:41:49.560
We're going to raise a bunch of money, but we're also trying to bring back manufacturing.
00:41:53.820
Well, those things are in conflict with each other.
00:41:55.880
There are people like me thinking that this is probably a way to try to refinance the debt,
00:42:00.940
but that's in conflict with some of these other things that he's doing.
00:42:05.700
And sure, if you leave all the options open, you can declare victory much more easily.
00:42:10.120
But now you have everybody infighting because you have people who are actually arguing really
00:42:17.820
So I, again, and maybe I'm giving the president too much benefit of the doubt here, too much
00:42:24.680
room, but I don't think I am because what he does is negotiate.
00:42:29.560
And I know because I know people who have been on his team and they all say the same
00:42:35.420
You walk into a room with him when he takes the room, he senses what's going on and he
00:42:43.580
What you do know is at the end, it will be good for the Trump organization.
00:42:48.900
And so I think that these all are Trump organization or America.
00:42:53.720
I said negotiating with him, you know, in, in real estate deals.
00:43:01.020
So I'm taking what he, how he negotiates for his company.
00:43:05.900
And he's applying those same principles now for our country.
00:43:10.780
Um, and so he's walking into a room and I think all those options are on the table.
00:43:19.700
You're not going to get all these jobs and all this tax revenue coming in.
00:43:26.420
The, so the things that are, uh, incongruent here, I think, uh, is the negotiating room.
00:43:35.160
Well, let's see which one plays out, which, which one, which one are we going for?
00:43:39.160
Yeah, but it's a little hard for the American people to palette a non strategy.
00:43:47.840
I don't, I don't know which one, or if that's the, or if that's the plan that just communicated
00:43:52.560
And listen, if, if this ends in a week or a couple of weeks, and especially if they're
00:43:57.740
willing to pay back these small business owners for the huge amounts that they've had
00:44:05.840
But, you know, there are so many things that can get damaged in the meantime.
00:44:11.360
And the longer it goes on, the more risk it is inherent.
00:44:18.320
I do believe there there's a shelf life of this.
00:44:23.040
And I, I don't mean to be giving him too much, uh, leeway here.
00:44:29.420
I mean, I told the story last week of he's going in to sell the Plaza hotel.
00:44:39.500
They're focused on the Plaza hotel five minutes in without saying anything to his team.
00:44:52.460
But he said, after the meeting, I knew I could tell they're not going to buy the Plaza.
00:44:57.220
So I pivoted here instead of a wasted meeting, I sold them this.
00:45:00.860
And I don't think that's wrong to give him the benefit of the doubt.
00:45:05.720
Cause that's the way he shoots from the hip that I hear.
00:45:09.680
Let me just, let's just take a step back on central planning though for a second.
00:45:13.680
And, and yes, and we're, again, we're, we're all on his side.
00:45:18.120
We're just discussing if this is the best tactic.
00:45:20.560
The issue is the central planning, even him sort of being able to do this.
00:45:27.720
What happens, Glenn, if you know, this, even, even if it doesn't turn out badly, but let's
00:45:32.680
say whether it's four years, eight years, 12 years down the road, we get in a new administration
00:45:36.860
and they want to do things completely differently.
00:45:40.160
They say, well, that was the Trump way and we don't like it.
00:45:45.380
And now every business now needs to go and roll and change.
00:45:54.060
Cause we were told China bad and now they're getting punished again.
00:45:57.440
So it's very challenging when we have a government that has that much power to put up these barriers.
00:46:09.480
I said this last week, you know, I have a problem with is Congress.
00:46:17.200
The minute Congress wants to reclaim their, their duties and their power, I am all for it.
00:46:24.440
I do not like the government giving more power or anybody giving more power to the administrator.
00:46:36.760
They are, they are the ones that are making this giant hole.
00:46:40.940
Congress should have said right at the very beginning.
00:46:46.460
We're going to, we're going to pass the regulation.
00:46:49.740
We're passing the reins act that gets rid of half of the regulation already, maybe more than half.
00:46:54.380
And that's our purview, but they're not doing it because nobody in Congress has the balls to do what Donald Trump does.
00:47:05.300
And it doesn't mean that I want somebody to, you know, continue this in the next administration.
00:47:11.060
We're setting up some bad precedent, but it requires Congress to take their power back.
00:47:17.680
So where is, um, where do you think Scott Besson is, Carol?
00:47:26.500
Um, he certainly has been on some of the shows and he has been sticking to the party line.
00:47:32.660
And I think that, you know, that's one of the challenges when you're in an administration that has, you know, a lot of power at the top is that, you know, you have to know your place.
00:47:42.800
And so, of course, he is not going to go against whatever the president's wishes are.
00:47:47.220
There have been some rumblings that there are divisions kind of behind the scenes that, you know, Besson and Hassett want a little bit more of a focused and, you know, lower tariff approach.
00:48:00.400
And that, uh, you know, Lutnick and Navarro are the ones that are really pushing on this.
00:48:05.860
So I think that there is some internal conflict and we're seeing that play out.
00:48:10.340
And unfortunately, I think at the end of the day, it's going to be Trump's call.
00:48:14.420
I don't think any of them are going to go against what the president is.
00:48:17.260
I have less now, less than a minute, but I have to ask you, this, I think, is the best cabinet I've ever seen in my lifetime.
00:48:23.060
And especially the people on the economic advisors, the people you just mentioned, all really, really accomplished and quite brilliant.
00:48:30.940
Well, I'll say that I think some of them are very accomplished and brilliant.
00:48:35.400
And I think that maybe we don't have the same, but I'm not going to be the one who's going to, you know, go get into that on air.
00:48:45.220
Okay. I mean, I don't care. If you want to get into it, we can get into it. I don't really care.
00:48:52.280
But, uh, uh, Carol, thank you very much. I appreciate it.
00:48:58.000
When I found out my friend got a great deal on a wool coat from Winners, I started wondering, is every fabulous item I see from Winners?
00:49:06.780
Like that woman over there with the designer jeans. Are those from Winners?
00:49:11.040
Ooh, are those beautiful gold earrings? Did she pay full price?
00:49:14.540
Or that leather tote? Or that cashmere sweater? Or those knee-high boots?