The Matt Walsh Show - Morning Wire： Wall Street Woes & Missing Migrant Records ｜ 1.2.23

00:00:00.000 Hey guys, we won't be releasing an episode of the Matt Wall Show today, but to keep you informed on

00:00:03.920 the biggest news of the day, here's today's episode of Morning Wire, another show here at

00:00:08.360 The Daily Wire where you get the news you need to know every day in 15 minutes or less. Check it out.

00:00:17.300 2022 closed out with the worst year on Wall Street since the financial crisis of 2008.

00:00:23.440 It was food, it was energy, it was utilities, right? So that hits the consumer and hits the

00:00:28.700 average American very, very hard. How much did the market decline? And is a turnaround coming

00:00:34.720 anytime soon? I'm Daily Wire editor-in-chief John Bickley with Georgia Howe. It's Monday,

00:00:40.520 January 2nd, and this is Morning Wire. The Department of Homeland Security says they don't have any

00:00:49.200 records on hundreds of thousands of illegal immigrants they were supposed to be tracking.

00:00:53.440 How many cases is the agency tracking, and why are so many slipping through the cracks?

00:00:57.620 And police have arrested a suspect in the November murders of four University of Idaho

00:01:03.340 students. How were police able to link him to the crime, and what charges is he facing?

00:01:09.280 Thanks for waking up with Morning Wire. Stay tuned. We have the news you need to know.

00:01:16.760 The current administration's New Year's goals are to tax, spend, and turn a blind eye to inflation.

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00:01:51.480 On Friday, markets closed for the final time in 2022, marking the worst year on Wall Street since the

00:01:58.500 08 financial crisis. Now, as the new year begins, investors say they're still worried that things

00:02:04.580 could get even worse in 2023. Here with more on which industries suffered the worst in 2022 and what

00:02:10.740 economists are predicting for the year ahead is Daily Wire senior editor Cabot Phillips. Cabot,

00:02:15.440 not what you want to hear at the start of the year here.

00:02:17.720 Yeah, this certainly will not be news to anyone who's been checking their 401k or mutual fund

00:02:22.060 throughout the year. But 2022 was a brutal time for the markets. Across the board, all three major

00:02:27.940 averages fell significantly. The Dow fell 8.8 percent, the S&P 500 was down 19.4 percent,

00:02:34.640 and the Nasdaq fell 33 percent on the year. A big part of that is because the Nasdaq is comprised

00:02:40.440 heavily of tech stocks, which had a really bad year. Overall, that is the seventh worst year

00:02:45.220 since record keeping began in the early 1900s. That means last year was up there with the Great

00:02:50.180 Depression and the dot-com bubble. Not the kind of list you want to be on.

00:02:54.180 Not at all.

00:02:54.560 Now, for context, overall, stocks are still up about 19 percent since the start of 2019.

00:03:00.100 Remember, 2020 and 21 both saw pretty massive gains, but this year erased a lot of that progress.

00:03:06.000 All right. So, seventh worst declines all time. What caused the drop?

00:03:09.660 As always, there are a number of factors, and it depends on who you ask, but we'll start

00:03:14.400 with inflation. Obviously, as the dollar becomes less valuable, operating costs go up and profits

00:03:19.020 come down, which just means less money for investors. But more importantly, the inflation

00:03:23.900 we saw this year caused the Federal Reserve to really clamp down and raise interest rates

00:03:28.380 to their highest point since the 1980s, meaning money was harder to come by, and the markets

00:03:33.720 responded accordingly. On that note, I talked to Kenny Polcari, a market strategist and CEO

00:03:38.200 of Case Capital Advisors.

00:03:40.860 It's very interesting, right? Because on the one hand, you could say that the Fed put us

00:03:44.320 in this position, and then we look at them to get us out of this position. And so I say

00:03:48.920 that because by now, many of us realize that the Fed went on and stimulated for much too

00:03:53.720 long. They kept rates at zero for much too long. So until they finally had to admit that

00:03:59.140 they were wrong, that they misinterpreted, that in fact, inflation wasn't transitory. And so

00:04:03.400 now the Fed who put us in this position, we look for them to take us out. And so what's

00:04:08.340 the role now? So now they're starting to do what they should have done.

00:04:12.660 So how long is the bear market expected to last?

00:04:15.280 Well, I hate to be the bearer of bad news, but again, many investors say that things will

00:04:19.100 likely continue to get worse, at least until recession takes hold and we bottom out, which

00:04:23.140 would likely cause the Fed to begin loosening things up and lowering interest rates once again.

00:04:27.760 Here's how Polcari put it.

00:04:28.840 So I'm expecting to see the first quarter or into the second quarter of more volatility

00:04:33.540 because I think the Fed's going to be faced with what to do next, right? I think by the

00:04:38.360 late spring, early summer of 23, then we will start to see all these rate increases significantly

00:04:44.660 slow the economy. We're going to see unemployment go higher, which just happens to be a byproduct

00:04:49.620 of a slowing economy.

00:04:51.100 What sort of political reaction have we seen to all this?

00:04:53.780 So one thing we constantly see over the years is that when the markets are up, politicians

00:04:58.000 are quick to take the credit, but when they fall, they're often the first ones claiming

00:05:01.680 that politicians have little influence over the market. And that is what we've started

00:05:06.120 to see once again from the Biden administration as well. In 2021, when markets were up, here's

00:05:11.240 what the president had to say.

00:05:12.900 The stock market, the last guy's measure of everything, is about 20% higher than it was

00:05:19.180 when my predecessor was there. It has hit record after record after record on my watch.

00:05:24.460 So sort of taking credit there for how well things were going. But as things took a turn

00:05:28.860 for the worse and the gains of 2021 were wiped out this year, the White House started to change

00:05:33.360 their tune a bit. Former press secretary Jen Psaki, for example, at the start of the year said,

00:05:37.660 quote, the president does not look at the stock market as a means by which to judge the economy.

00:05:42.100 And then later this year, as stocks continue to go down, current press secretary,

00:05:46.260 Coringe and Pierre had this to say. Nothing has changed on how we see the stock market.

00:05:52.040 We do not, that's not something that we keep an eye on every day. So I don't, I'm not going to

00:05:56.280 comment about that from here. So a little bit of political maneuvering going on there. You can

00:06:00.760 expect to see Republicans highlighting that messaging shift as the year continues.

00:06:05.220 Yeah, it makes sense. Cabot, thanks for reporting. Anytime. That's Daily Wire senior editor,

00:06:09.400 Cabot Phillips. Coming up, ICE says it's missing key information on hundreds of thousands

00:06:15.240 of migrants released into the country. The American Heart Association recommends 0.98

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00:06:45.240 The Department of Homeland Security appears to not have any records on hundreds of thousands

00:06:52.440 of illegal immigrants it was supposed to be electronically tracking. Immigration and

00:06:57.120 Customs Enforcement, known as ICE, told university researchers it couldn't respond to an open records

00:07:02.740 request because it said it had, quote, no records on the migrants.

00:07:07.080 Here to discuss the DHS monitoring program is Daily Wire's Tim Pierce. Tim, let's start with

00:07:12.240 the open records request. What exactly was it for? Hey John, it had to do with ICE's alternatives to

00:07:17.800 detention programs. Those programs were started nearly 20 years ago as an alternative to alien 0.89

00:07:22.680 detainment while their immigration cases are processed. Immigration courts are under a pretty

00:07:27.100 long backlog and any one immigration case could take years before a final order is issued. ICE created

00:07:33.080 these programs to relieve some pressure on its crowded detainment facilities. Migrants who qualify for

00:07:38.320 these programs are released into the United States under certain kinds of monitoring, such as mandatory

00:07:43.540 check-ins with case agents or electronic monitoring with ankle bracelets. And just how many migrants are

00:07:49.460 in this program? Hundreds of thousands. The open records request was filed by researchers at Syracuse

00:07:54.960 University's Transactional Records Access Clearinghouse, also known as TRAC. The researchers asked for

00:08:00.880 information on every illegal alien enrolled in monitoring programs since October 2018. Syracuse Assistant

00:08:07.100 Professor Austin Coker, who works on TRAC, said that the request covered over 350,000 migrants that ICE

00:08:13.240 couldn't come up with a single record or data point for. Now ICE did report in its end-of-the-year data

00:08:18.460 last week that 321,000 migrants are currently enrolled in some kind of alternative to detention program.

00:08:24.980 So the agency is keeping tabs on these aliens somehow, we just aren't sure to the extent.

00:08:30.380 Has the agency made a statement on the missing records? Have they offered any explanation here?

00:08:35.360 Not from ICE, at least not yet. It's worth mentioning that this isn't the first time ICE's alternatives to

00:08:42.020 detention programs have caused controversy. Earlier this month, the agency actually apologized for misreporting

00:08:48.060 figures on the number of migrants it has released into the U.S. without any form of electronic tracking. As

00:08:53.360 recently as November, the agency claimed on its website that it had released just 266 migrants from its custody

00:08:59.500 without electronic tracking. An investigation by the Daily Caller News Foundation found that ICE had

00:09:04.920 misreported that number. The real tally is nearly 50,000 migrants released. So the actual figure was

00:09:11.380 about 180 times more than ICE had claimed on its website. The agency apologized on December 8th and

00:09:17.620 blamed the misreporting on a miscalculation.

00:09:19.840 And how many immigration cases is ICE tracking in total? These release programs only make up a fraction

00:09:26.260 of those cases, right?

00:09:27.660 Right. According to data DHS released on Friday, ICE is tracking the cases of nearly 4.8 million migrants

00:09:33.760 who could eventually be ordered out of the U.S. About 1.2 million aliens already have been. The number of

00:09:39.780 cases ICE is tracking is reflective of the crisis at the southern border. The 4.8 million cases that ICE is

00:09:45.260 tracking, that number is 29 percent higher than it was a year ago. Illegal aliens continuing to stream

00:09:51.380 across the border is a big reason why. And if you're wondering if all these deportation orders have led

00:09:56.120 to more actual deportations, they really haven't. ICE deported a total of just 72,000 people in fiscal

00:10:02.200 year 2022. That's more than last year, but still low historically. We'll see where these kinds of

00:10:07.580 numbers take us next year. Tim, thanks for reporting. Thanks for having me. That was Daily Wire reporter Tim Pierce.

00:10:15.260 On Friday, police arrested a 28-year-old graduate student in connection with the murders of four

00:10:22.300 University of Idaho students in mid-November. The Daily Wire is not naming the suspect, but he's

00:10:28.540 reportedly a graduate student at Washington State University in Pullman, Washington, which is just

00:10:33.680 about 10 miles from the city where the students were killed. Here to discuss the chilling case and what

00:10:39.000 we know about the suspect so far is Daily Wire senior editor Ash Short. So Ash, what happened here?

00:10:45.580 This is a really tragic case. Four friends, Kaylee Goncalves, Madison Mogan, Ethan Chapin,

00:10:52.300 and Zaina Kurnodal returned home November 12th after attending various parties. Kaylee, Madison,

00:10:58.340 and Zaina were all roommates, and Ethan was dating Zaina. All four undergraduate students returned to the

00:11:05.020 off-campus residence, and at some point in the early hours of November 13th, they were all stabbed to

00:11:10.780 death. Now, six weeks later, we finally have an arrest. What do we know about the suspect?

00:11:17.820 Well, the suspect was pursuing his PhD in criminology and criminal justice and had previously studied

00:11:23.380 psychology at DeSalle University in Pennsylvania. While at DeSalle, the suspect reportedly worked as a

00:11:30.140 student investigator for a survey exploring motives behind crimes. One question in the survey reportedly

00:11:36.300 asked, why did you choose that victim or target over others? While another question asked, after

00:11:42.520 committing the crime, what were you thinking and feeling? We also know that the suspect is expected

00:11:48.080 to plead not guilty to the crimes, and that he and his parents were reportedly shocked by his arrest.

00:11:54.240 His attorney told media outlets that the suspect wasn't on the run and had driven across the country

00:11:59.180 with his father a few weeks before his arrest, just as they had planned to do for some time.

00:12:04.840 Now, what led the police to this particular suspect?

00:12:08.880 We don't know the exact details at this time, since the probable cause affidavit is sealed until

00:12:14.420 the suspect has appeared in an Idaho court. But we do know that police tracked the suspect to Monroe

00:12:19.940 County, Pennsylvania, some 2,400 miles away from the University of Idaho and where the suspect is

00:12:26.200 originally from. Police reportedly used genealogy records to find the suspect, and cell phone

00:12:32.380 records showed that he was often in the same area as the victims in the weeks leading up to the crime,

00:12:37.780 appearing to stalk them. He also allegedly wore gloves during that time to avoid leaving fingerprints

00:12:43.780 anywhere in public. The big question right now is whether he knew the victims and how he chose them,

00:12:50.200 but we likely won't know all of the details until it goes to trial.

00:12:53.920 Right. Well, we are going to follow this case. Ash, thanks for reporting.

00:12:58.160 You're welcome.

00:12:59.200 That was Daily Wire senior editor, Ash Short.

00:13:05.580 Other stories we're tracking this week. Authorities say the man suspected of carrying out a New Year's

00:13:10.740 Eve machete attack on three police officers near Times Square may have been motivated by jihadist

00:13:16.900 intentions. The 19-year-old suspect from Maine had no previous arrests, but was reportedly known to law

00:13:22.980 enforcement after his family members warned authorities about his turn toward extremist

00:13:27.100 Islamic ideology. All three officers are in stable condition, as is the suspect who was shot in the

00:13:32.960 shoulder by one of the officers. A baggage handler for American Airlines affiliate Piedmont Airlines

00:13:38.820 died Saturday after being sucked through the engine of a jet. Authorities say the tragic incident

00:13:44.600 occurred on Saturday afternoon at the Montgomery Regional Airport and is being investigated by the

00:13:49.660 Federal Aviation Administration and the National Transportation Safety Board.

00:13:54.220 The body of Pope Benedict XVI, who stepped down in 2013 due to health concerns, will be on display in

00:14:00.640 St. Peter's Basilica beginning today for mourners to visit. The funeral is scheduled for Thursday.

00:14:06.960 The former pope passed away Saturday at the age of 95.

00:14:09.820 Thanks for listening to Morning Wire. We created this show to bring more balance to the national

00:14:15.040 conversation. If you love our show and you stand with our mission, please consider subscribing,

00:14:20.040 leaving us a five-star rating, and most importantly, sharing our podcast with a friend.

00:14:24.580 Well, that's all the time we've got this morning. Thanks for waking up with us. We'll be back this

00:14:28.440 afternoon with more of the news you need to know.

00:14:30.200 Used car prices are dropping, but before you walk into a dealership, you've got to check out

00:14:37.040 Carzing. Carzing is an online car shopping website with millions of listed vehicles. By partnering with

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00:14:46.720 stepping foot into a dealership. Visit carzing.com slash wire today to skip the guesswork and find the

00:14:52.260 best deals near you. That's carzing.com slash wire. Well, that's all we've got for you here today. If you

00:14:57.980 enjoyed this episode of Morning Wire, you can hear John in Georgia anywhere my show is available. So

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The Matt Walsh Show - January 02, 2023

Morning Wire： Wall Street Woes & Missing Migrant Records ｜ 1.2.23

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