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In an episode packed with engaging conversations and insightful analysis, host John Rush tackles everything from political strategies to economic dilemmas with guest Adam Goulet from Accuracy in Media. Explore the societal implications of critical race theory in education and the role of influential policymakers in shaping future narratives. The episode wraps with a financial analysis that highlights the tension between government mandates, like electric vehicles, and free-market forces, posing fundamental questions about sustainability and economic viability in today’s world.
SPEAKER 04 :
This is Rush to Reason.
SPEAKER 09 :
You are going to shut your damn yapper and listen for a change because I got you pegged, sweetheart. You want to take the easy way out because you’re scared. And you’re scared because if you try and fail, there’s only you to blame. Let me break this down for you. Life is scary. Get used to it. There are no magical fixes.
SPEAKER 04 :
With your host, John Rush.
SPEAKER 09 :
My advice to you is to do what your parents did! Get a job, Turk! You haven’t made everybody equal. You’ve made them the same, and there’s a big difference.
SPEAKER 16 :
Let me tell you why you’re here. You’re here because you know something. What you know, you can’t explain. But you feel it. You’ve felt it your entire life. That there’s something wrong with the world. You don’t know what it is, but it’s there. It is this feeling that has brought you to me.
SPEAKER 09 :
Are you crazy? Am I? Or am I so sane that you just blew your mind?
SPEAKER 17 :
It’s Rush to Reason with your host, John Rush. Presented by High Five Plumbing, Heating, and Cooling, where every call ends with a high five.
SPEAKER 05 :
All right, we are back. Rush to Reason, Denver’s Afternoon Rush, KLZ 560. Waiting on Adam. If he checks in with us, we’ll put him right on air. If not, we’re going to continue on. There was a X post that went out a moment ago. This happened to be on Clay Travis’s X account. And I could probably play this, and then I’ll give you the description of. It’s not a very long clip here, so let me go ahead, Charlie, and I’ll just hit play. Here we go.
SPEAKER 09 :
How do you like my garbage truck? This truck is in honor of Kamala and Joe Biden.
SPEAKER 05 :
Okay, so he’s in a garbage truck. with his Trump sign on the side of said garbage truck. Looks like a brand-new garbage truck. He must have got one from somebody that manufactures them, and it wasn’t all done up like they normally are. It must have been a new one that hasn’t been put in service yet. And it’s got his Trump Make America Great Again sign on the side of the garbage truck, and he’s in the passenger seat answering media questions. Got to love the guy. I mean, he is probably one of the best trolls when it comes to the left that there’s ever been. And I mean that sincerely. I mean, the wit at times. And by the way, I don’t think this is my take on this. Charlie, you can chime in and tell me if you think I’m right or wrong. I don’t think this is his handlers that do this. I think when Donald Trump heard something like he did last night where Joe Biden comes out and calls all of his supporters garbage. I think Trump immediately just says, hey, you know what we need tomorrow? A garbage truck. And I’m going to be in the passenger seat, and I’ll answer some media questions from. Now, it could be his media team, and they’re all together talking about this. But I really feel like Donald Trump himself has the kind of wit where he just says, hey, I know what we can do tomorrow. Let’s do X. And he does. And if you get a chance to watch this clip, do so. And there’s probably more to it than that. That’s just about a six-second clip of what I just played you a moment ago. But absolutely hilarious. Now, again, the left is going to try to spin what Joe said last night in a different way than what Joe actually said, which, by the way, they’re very well known for. They have pretty much, from the time Joe started to go downhill with whatever disease Joe has, and I don’t know. They won’t say. which really is elder abuse when you really want to get down to it, because they won’t tell us what Joe really has. And Joe shouldn’t be president right now. But because of the deal that was struck, which, by the way, I said way back when, when Joe decided to step down, I’ll remind all of you that I said he would be there till Inauguration Day, unless he dies. A lot of people didn’t believe me. In fact… I’m not sure that Bob Duco and Neil Boron believed me. But here we are. He’s still president. And that hasn’t changed, nor will it, because that was the deal I believe that he made with the Biden family. You know, the Biden family made for him on behalf of him. Jill Biden actually made that deal on behalf of Joe Biden. So that she could retain her White House position, by the way, as first lady all the way to Inauguration Day. She was not going to allow Kamala Harris into the White House one day sooner than her earning it. And I think even Jill’s thought was if she doesn’t earn it, then you know what? She’s not going to ever be here. I think that’s how Jill and Joe both are looking at Kamala Harris. Charlie, you want to take a break really quick while we get Adam lined up? Do you want to do that? Would that be easier? Okay, let’s do that. We’ll take a break. Adam’s going to join us here in just one minute. We’ll make this thing easier for Charlie this way. Flesh Law coming up next, 303-806-8886.
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SPEAKER 04 :
This is Rush to Reason on KLZ 560.
SPEAKER 05 :
And we are back, Rush to Reason, Denver’s Afternoon Rush, KLZ 560. Adam Goulet joining us. Adam, how are you, sir? I’m great. Thank you so much for having me. I appreciate it. President of Accuracy in Media, as we head down this election stretch, and who knows what’s going to happen next Tuesday? I don’t think anybody’s got a crystal ball. One thing that we do know that doesn’t seem to be slowing down, though, is the anti-Semitism, especially on college campuses.
SPEAKER 08 :
Unquestionably, and even more worrisome, many of these anti-Semites have now graduated and are spreading their hatred to the workforce.
SPEAKER 05 :
Yeah, unfortunately, you are correct in that. And I would have hoped by now some of this would have gone the other direction. It’s not. And I guess, Adam, other than just the Marxist movement that we have going on in this country right now, I don’t know any other way of explaining what’s happening.
SPEAKER 08 :
That’s a perfectly good way of summarizing it, because what we have now, essentially, is a growing Marxist-Islamist alliance. It’s a coalition of people who have nothing in common other than the fact that they hate the West. They hate classical liberal values. They hate Judeo-Christian values. And they certainly hate America.
SPEAKER 05 :
No, you’re exactly right. And I… I guess, Adam, I don’t know. I shouldn’t be shocked, although I am. I guess growing up in this country, being a native here in Colorado, being somewhat removed even from a lot of these Marxist ideals the way that I was raised by my folks, I am a little bit taken back by this. I guess I shouldn’t be because this has been in the works for some 60, 70 years.
SPEAKER 08 :
Well, exactly. And particularly in the last few years, they’ve been fueling this in K-12 education. School districts across the country, especially red states, have full-time equity officers focused exclusively on pushing the radical principles of critical race theory and DEI into every single facet of public education. We find it in rural Republican areas. We find it in Texas and in Florida. And that is where this hatred comes from.
SPEAKER 05 :
You’re right. No, you’re exactly right. Adam, when it comes to the presidency itself, I’m one that believes, and again, correct me if I’m wrong, while I do believe presidents can have an effect on what we’re talking about, positive or negative, I also know that we still are moving forward with this Marxist movement, and we’ve had lots of conservative presidents over the years, and yet none of them, they may have slowed it down some, but none of them have put a full force stop to this.
SPEAKER 08 :
Well, gosh, I mean, for the good things that George W. Bush did, he also, let’s remember, let Ted Kennedy write our education bill, which dramatically increased the federal government’s involvement in K-12 education, which is obviously quite worrisome. Trump, for all of his faults, appointed Betsy DeVos to the Department of Education, perhaps his best appointee. She really struck fear into the heart of the teachers’ unions. Now, what the president could do, first off, Why are we funding this at a higher educational level? Thank you. Columbia University, America’s most anti-Semitic university, gets a billion dollars from the taxpayers annually. Let them go get that from Qatar. Let them get that from their students who pay 80 grand in tuition a semester. Why do the taxpayers have to give them a billion dollars each year?
SPEAKER 05 :
I’ll go one step further that the president could do. Why do we need a Department of Education, period? Why not let each state just handle their own education, which, by the way, they do anyways. We’re double covering that, if you would, Adam, spending twice as much money, in my opinion, as what we should. Why not just eliminate it?
SPEAKER 08 :
Yeah, that’s exactly right. They have no role in that at all. And what I also want to know, this stuff goes on in states like Florida and Texas and Ohio. Why? On the state level, why are we funding crazy radical Marxism, teaching people to hate their own country? If they want to do that in Berkeley, California, sure, I would expect that. If they want to do that nearby you in Boulder, I would kind of expect that as well. But in Texas, Ohio, Florida, Wyoming, Idaho, why are these universities far-left cesspools of hate, divisiveness, and radicalism? And instead of actually doing something, many Republican legislators just look the other way and pretend, oh, that doesn’t happen in our state. They’re wrong.
SPEAKER 05 :
They are wrong, and I’ve interviewed many a politician over the years. And while there’s some really good, smart, intelligent politicians out there, Adam, and I’m not talking about those right now, I will tell you, though, there’s a lot of them out there that they’re really good at getting elected. And outside of that, I’ll just tell you straight up, Adam, they are clueless. These guys don’t have the brains that God gave an ant, and I’m not exaggerating when I say that. So it’s no surprise to me where I’m going with this is there’s no surprise to me that some of them let this stuff go by because, frankly, Adam, I think they’re clueless.
SPEAKER 08 :
Well, that’s exactly right. You know, I met with a hidden camera one time with the director of curriculum for Nashville Public Schools, a state where they had banned critical race theory in K-12 education. And he said to me, one of the most honest things I’ve heard one of these deceptive people say when referring to their CRT law, he said, this law is really well-crafted to accomplish nothing. And it’s not entirely true. It accomplished one thing. It placated Republican constituents who thought their politicians were looking out for them. But no, their politicians were placating them, passing a meaningless law and patting themselves on the back and saying, look what I did. Will the full time administrators and teachers and principals continue radicalizing each and every classroom?
SPEAKER 05 :
So you’re really just proving a lot of what I’ve thought and what we’re saying here. OK, so here’s a question. What’s the fix for this?
SPEAKER 08 :
Well, there’s a variety of fixes. First of all, obviously, you and I would agree, get rid of the Department of Education. Absolutely. On the state level, universal school choice where the money follows the child like they’ve enacted in Arizona and in Florida. And in the university level as well, accountability needs to be delivered to these crazy, violent, racist radicals. And even when they get arrested, what we see consistently is the charges are dropped. So what we do as an organization is we deliver our own accountability. We buy their domain names, their first and last name, .com usually, set up a profile page… done we run ads so that their fans and friends and social media connections see these web pages which make it quite an awkward conversation at a thanksgiving dinner and what we’ve started doing as i’ve said is visit those who have graduated so that their colleagues and co-workers and hr team can learn the exact racist person that they hired yep you are 100 correct all right where do folks find you accuracy in media adam Our website is aim.org, A-I-M.org. You could send one message that goes to the leaders of these companies that hired racists into the boards of these universities. The next one in our crosshairs we just discovered is, believe it or not, the Virginia Military Institute, which hired one of these racists to be a visiting faculty member and a fellow. These are who are training our best and brightest.
SPEAKER 05 :
Adam, thank you for all that you’re doing. We’ll get that message out, and we’ll continue having you on. We appreciate all that you’re doing, sir. Thank you for having me. You’re very welcome. Adam Goulet, and that’s G-U-I-L-L-E-T-T-E is how you spell it. Accuracy in media. And let’s do this. We’ve got Scott Garlis joining us here in just a few minutes. Before we do that, I have a financial article that I want to talk about before Scott comes on anyways. And I guess I could also say this. John from Cheyenne, I know you had called in. We had Adam join us really quickly. John, if you’re listening and you want to join us quickly before we go to the bottom of the hour with Scott Garlis, you’re welcome to do so. So I’ll throw that out there, too. If you’re listening, John, you want to call in, feel free to do so. Volkswagen. Volkswagen. VW. German car company, yes. Closing plants, laying off thousands of workers to save itself. These are things, by the way, you’re not necessarily seeing in mainstream media. Volkswagen, by the way, just came out with their old van redone into an EV, which might be very popular, although it’s not going to save them, because most likely, like the majority of EVs out there, they’ll probably lose money on that van. Part of what they’re encountering, Volkswagen, along with a lot of other companies, what they’re running into is they’re They’re losing money on EVs, the development of, the sales of, and so on. And this is another one of those areas. The reason I wanted to dovetail this into what Adam was talking about a moment ago is even Ford is now being slammed for backing off of its diversity targets. a lot to what Adam was just saying a moment ago. These companies are figuring out, wait a minute, this stuff’s not making us any money at the end of the day. The whole DEI stuff’s not making us any money. In fact, it’s probably costing us money. And then on top of it, this whole push that government wanted us to do EV-wise, mandate-wise, state government mandates even, Colorado, California, and some others, these things are costing us money. Newsflash, I told you that a while back. Folks like myself that are in the auto industry and in media both, I told some of these guys on air publicly, this stuff’s not going to work. A lot of you listening said exactly the same thing. It’s not going to sell. Anytime you mandate something versus having the free market dictated, it’s going to cost you money. And it has, to the point that, again, Volkswagen, along with some other car companies that are struggling, I won’t talk about Stellantis right now, but Volkswagen, they’ve been through the ringer here lately. They’re facing falling profits, struggling sales. They’ve tried to pivot to electric cars around the world. That has failed dismally for them. It’s not working. They’re trying to figure out a way to some of their money problems. So one of the ways they’re going to do that, as I said a moment ago, they’re going to cut costs, lay off staff, shutter some factories. In doing so, hoping that they’ll regain some of that momentum that they’ve lost. Will it work? I mean, Volkswagen’s big. They probably can recover if they do the right strategy shift, which it sounds like they are. Get away from some of the EV nonsense they’ve gone down. And really quick, when I say EV nonsense, what I mean by that is not the EV being nonsense, but the mandating on how many they’re going to produce, shove onto dealer lots, making the dealers then have to have these things and then try to figure out a way to get rid of them. In other words, kowtowing to government, they have to stop doing that. If you want to sell EVs, fine, sell EVs. But don’t shove them down people’s throats. That never works. Inventory’s already piling up, no matter what the vehicle is. It’s why I talked about a couple of days ago the fact that 30%, a third, of car owners right now, new car owners, are upside down in their car, meaning they owe more on the car than it’s worth. A third. A third. The reality is there’s plenty of inventory now on lots. There’s plenty of deals to be had. The problem is, though, when there’s that many people, as I said on Monday, that are upside down in their own vehicle, they won’t be able to buy those. They might try. A dealer might be able to wrap some of that into the next one. But I read a story yesterday of a couple that had bought a new EV Volvo. They were so far upside down in it that it was only worth several months. Three months after buying it was only worth a third of what they paid. A third. Meaning they’re two-thirds upside down in that car. So they have no choice but to keep driving that car. They wanted to trade out of it, the article said, because they had had some software problems and different things with the EV. It wasn’t that they didn’t like the EV. They didn’t like that particular one and felt like they have some problems with they wanted to get away from. Problem is they can’t. And unless they can get whatever state they’re in to have some sort of lemon law or something along those lines, they’re bound to just drive that car till they get to the point where they’re not upside down. The problem is what I don’t think they’re even realizing is that upside downness. I know that’s not grammatically correct, but that being upside down will continue for a while because that car is not appreciating. It will continue to depreciate as time goes by. So they’re going to be in bad shape for a while, and most likely will have to drive that car the next five, six years to even be halfway, basically have to get the car paid off before they can come back and recoup anything on the car. And at that point, they’ve literally just spent all their money for the car and they won’t have a lot of value at that point. That’s what a lot of these folks that have bought not only EVs, but other cars will figure out. And it’s why even on Drive Radio, I talk all the time, too, that keep in mind, the better you care for your car. through this whole process, EV or not, makes it worth more money on the backside. That’s a drive radio subject I maybe can get into more this coming Saturday. But the reality is this is a financial burden that a lot of people have gone through, and it’s affecting the point of this article with Volkswagen is it’s affecting new car sales because of what I just said. Again, I spoke about it Monday. This news came out today. You’re going to see other manufacturers do similar things. And this goes back to the politics of it. Unless you get somebody elected like Donald Trump that understands how to get the economy rolling again. One of the things Donald Trump has even said won’t help Volkswagen. Well, I guess it could. because they built some cars here in the U.S. One thing Donald Trump has said that would help spur some new car sales along is he wants to make the interest you pay on that loan for the car tax deductible, which they used to be, by the way. In fact, Charlie, when you and I were probably in our teens and growing up and first buying cars and so on, way back when in the 80s, you could deduct the interest on your new car back in those days. That changed. So these are some things that Donald Trump understands that might actually spur some of these things along. And my point is, you get him elected, you might see some of these things change and not have some of this abruptness in manufacturing that you have from the likes of Volkswagen. Will he be able to fix everything overnight? No, it’ll take time. The left has got things so screwed up right now that it will take him time. He will not be able to fix things overnight. So folks, please be aware of that as well. Even if he wins… On Tuesday, the reality is he will not be able to fix it overnight. That’s how screwed up the left has made things. Just look at the car companies and the story I just read and the whole shift to EVs, which was thrown upon them by the left. The reality is that takes, in some cases, years to overcome because everything they’re doing has to change. So I can talk more about that possibly here with Scott Garlis in a moment. Hi-Fi Plumbing is next. Don’t forget they do electrical now as well. So Hi-Fi Plumbing and Electrical, 877-WE-HIGH-5.
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SPEAKER 17 :
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SPEAKER 05 :
All right, we are back. Rush to Reason, Denver’s Afternoon Rush, KLZ 560. Somebody mentioned also that when it comes to EVs, watch them as far as the insurance sides of it goes because not all companies will insure them, and that is a true statement. Scott Garlis joining us now. Scott, how are you? Hey, John, I’m well. How are you this evening? I’m doing well. All right. As we head down this backstretch into the election, which is less than a week away now, what is Wall Street’s or what we talked about last week? Are Wall Street’s thoughts still a Trump victory or where are we at with that?
SPEAKER 07 :
Sorry, I lost you for a second there. You’re saying?
SPEAKER 05 :
No, we’re heading down the backstretch into the election. We talked last week that Wall Street has baked in a Trump win. Is it still that way?
SPEAKER 07 :
Yeah, it’s getting a little more tenuous, though. They’re starting to see a couple of analysts coming out and saying they’re now predicting a Harris win. But the consensus is still it’s going to be a tight race. I know Ken Griffin, who is a big fund manager, Citadel for anybody that might be familiar with the name or unfamiliar with Ken Griffin. He was saying the other day he expects this to be a very tight race, but still expects Trump to come out on top.
SPEAKER 05 :
I think a lot of folks feel that way, and I’ve been talking about it most of the week, and I think for me, Scott, it just kind of depends upon what, I don’t know, what feeling I have at a particular moment maybe. I mean, I don’t have a crystal ball. I have no idea. I do feel, and I talked about this quite a bit the last couple of days, I do feel like—this is a side note outside of finances and all, but I do feel like the left has really stubbed its toe in certain areas, the Harris campaign especially— And the male vote in general, I know Obama’s have been running around trying to chastise the young male, young black male voter into voting for, you know, Kamala. But really, Scott, I think in general, they’ve kind of forgotten or or sort of pushed away the male voter thinking that, you know, they can have special interest groups in the female vote and they can win it all by doing that. The reality is the numbers don’t work that way. They need the male vote, too.
SPEAKER 07 :
Completely. Yes, you definitely do. I think where some of these people got nervous was this Madison Square Garden event. Was it Sunday night? Yeah. And yeah, it was, you know, what what they’ve been talking about is that Trump was getting a bigger share of the Latino vote heading into this. And then I think they’re concerned that this comedian that. I just don’t understand if somebody didn’t vet this guy.
SPEAKER 05 :
I don’t either. That one I have no idea. Dumb move. Had I been in charge of that, that would not have happened. I mean, I get it. He’s an insult comedian, and I get all of that. But I wouldn’t have had him at that event. Although I will say this, and this is where I don’t understand some of these guys on Wall Street. The polling numbers haven’t really, if anything, Scott, they haven’t changed at all in that regard.
SPEAKER 07 :
No, and most importantly, it’s what’s going on in the swing states, and they are still really a toss-up. Correct. I mean, that’s what you really got to focus on right now is who’s going to come out in those swing states. And, you know, the one big thing, I mean, what’s really going to be interesting to me to see, and I think we mentioned this last week, the Jimmy Carville quote about it’s the economy, stupid.
SPEAKER 06 :
Right, right.
SPEAKER 07 :
You know, the one big thing there, look, we had GDP numbers that came out today that They slowed down a little bit, but they were still pretty good at 2.8 percent. But, you know, if you look at the polling numbers, though, you know, Kamala doesn’t do really well on how the economy is doing. And more importantly, you know, she and the Democratic Party take a lot of blame for inflation. And I think rightly so, because 2.3 percent. trillion dollar spending package that was done in 21. You know, and I think it wasn’t needed.
SPEAKER 05 :
And, you know, you and I talked about that back then, even it just it wasn’t needed. It was an overdue. It was a, you know, let’s loosen up the purse strings even more than they already are coming out of COVID. And the reality is it didn’t. And the other thing about it, Scott, is the majority of what they planned for in that and wanted to take place. I talked about the whole, you know, rural broadband end of things. They allocated like forty two billion dollars for that. And they haven’t connected one house yet.
SPEAKER 07 :
Yeah, I mean, you know, I’d love to see the paper trail on where all this money’s gone.
SPEAKER 05 :
But reality is it’s been allocated. It’s been, quote, unquote, printed. That has an effect upon the economy and inflation. And I think you’re right. People are looking at, wait a minute, you’ve been in charge for three and a half years. I’m paying now more for milk, bread, and eggs than I was four years ago. I can’t travel and do the things that I would have liked to have done otherwise. In fact, there’s times I’m having a hard time even just feeding my family and enjoying the life I had four years ago. I want that back.
SPEAKER 07 :
Well, not to mention, you know, the starter house, if you look at interest payments and what it costs for a monthly mortgage payment, I mean, that’s double.
SPEAKER 05 :
Correct.
SPEAKER 07 :
It’s not going up even more, so… Yeah, I mean, that’s a big part of expenses for everybody, and I think that’s a very hard thing for people to stomach.
SPEAKER 05 :
I agree. Okay, so when it comes to things, though, in Wall Street, the 10-year Treasury, some of the jobs reports and so on, give us a rundown of some of that.
SPEAKER 07 :
Yeah, so one of the big concerns right now, so when the Fed cut interest rates, gosh, it was mid-September, like the 18th, they cut by 50 basis points. People thought, okay, we’re going to start to see Treasury yields come off more. Well, actually… Since that time, they’ve gone from 3.6% to 4.3%, which is a massive move. But the issue here is Wall Street’s worried about what’s going on from a spending perspective, especially from the people in the White House right now, and the potential for more spending going forward. So because of that, borrowing costs are going up because they’re like, look, if we’re going to see spending pick up, you know, they’re worried that it’s going to cost even more to borrow because people aren’t going to want to give us that money. I mean, look at China. You know, China is buying lots of gold right now. They’re not buying U.S. debt. So that’s a concerning problem because China has been one of those countries that’s been one of the biggest buyers of U.S. debt for a long time. But so if we, let’s look at it from the standpoint, if we go down a Kamala Harris gets elected as the next president of the United States. Well, you know, the bipartisan committee for a responsible federal budget put out an estimate that if she gets in there, her plans would cost $3.5 trillion in deficit spending. Wow. That’s a massive number. Yes, it is. So that’s why we’re seeing yields rise. But now… One of the other things here that I think some of these people aren’t remembering or aren’t thinking about is that, you know, if she does win, she still has to get these spending bills through Congress. She has to get congressional approval. You know, and I don’t think that’s going to be as easy as some people may be forecast or expecting, you know, because. the big thing is going to be what the thinking is, whoever wins the white house is going to get the house of representatives.
SPEAKER 05 :
And I think that’s, I think that’s the wrong thinking by the way. Yeah. Yeah. If it’s close and she happens to squeak out a win, that’s not a guarantee she gets the house. In fact, I would argue that she doesn’t get the house no matter what. So whoever’s predicting that frankly, isn’t looking at the numbers very well.
SPEAKER 07 :
This is fair, but, uh, But the other big, more important thing here is the Senate. There’s basically the odds are 90-10 that the Republicans are going to win the Senate. Right.
SPEAKER 05 :
All comes down to Montana.
SPEAKER 07 :
Yeah, yeah. And I think it’s like there’s seven seats, right, Democratic seats right now that are up for election. And it’s a tenuous hold at best. And the thinking is at least two of them are gone and that that’s going to push the Republicans over the edge in terms of, majority in the Senate. Now, the other thing I’ve heard is if the Democrats are successful in their bids to win back these seats, they’re going to wind up with 50 seats at best in the Senate.
SPEAKER 05 :
So that still doesn’t give them full control.
SPEAKER 07 :
Yes.
SPEAKER 05 :
Especially if you end up with a Trump presidency with a vice president on our side.
SPEAKER 07 :
Yeah, well, then that would be because if you had a reconciliation vote or just a tie vote, the vice president decides. That’s correct.
SPEAKER 05 :
Vance becomes the tiebreaker at that point.
SPEAKER 07 :
Yeah, but the big thing I don’t think some of the people on Wall Street are thinking about, or they’re not really advertising right now, is the fact that Republicans, if they do take back the Senate, and they’re very much expected to, Harris is going to have a difficult time at best. Getting any for I mean, I’m sorry, difficult time at the least getting any of her bills through Congress. And certainly big budget deficit spending. That’s not going to fly.
SPEAKER 05 :
Right. Right. And by the way, I would agree with that. I mean, I think even if she wins, it’s a stalemate in D.C. Not as much gets done that she thinks she’ll have to executive order things, which, by the way, those things will get fought if they’re not done correctly. So it’s not a slam dunk for her if she wins. On the same token, this is the flip side to it. If Trump does win. I think he does at that point pick up some seats because that’ll change some trajectory of many things if he wins. I think you pick up some House seats. I think you do control the Senate. The reality is he’d have possibly the ability to control the whole nine yards. What happens from there? we could easily have a lot of things take place to get the economy bounce back much faster. I hate to say this for people listening, but if the other happens I just talked about a moment ago, the economy stalemates for a while. You’re not going to see it bounce back much at all. If anything, it might get worse. Under Trump, it will bounce back. Am I right, Scott?
SPEAKER 07 :
It would certainly seem that way, right? You would think for the next two years it’s going to be difficult to get anything through Congress if Harris wins. Correct.
SPEAKER 05 :
Where Trump, on the other hand, for example, he’s talking, he’s throwing some things around. For example, some of the tax things he wants to do. You know, no tax on tips, no tax on that. He was talking yesterday about putting incentives back in, or if you buy an American car or a car made American, in America, even if it’s a Volkswagen, but it’s made on our soil, you can have that interest written off on your taxes. In other words, you can get that interest deduction, which, by the way, years and years ago, you used to be able to get across the board. So he’s talking in light of some of these things, which, by the way, Scott, those things stimulate growth and stimulate buying in the economy.
SPEAKER 07 :
Yeah, they do. Raising taxes certainly don’t help growth, but it’s It’s finding that fine line between where our tax is sort of just right, like that Goldilocks type environment, right? Where tax is just right and where’s economic production just right that, you know, hey, we blow our taxes, but the receipts coming in the door. or so much that that’s offsetting the higher taxes and less receipts.
SPEAKER 05 :
One thing I want to talk about, and I didn’t throw it into our notes, but I want to throw it in. We’ve got a few minutes here left for a weekend. Tariffs. Trump’s talking a lot about tariffs. There’s all sorts of quote-unquote experts out there, and I follow some of these guys even on social media that talk about Trump’s tariffs being an awful idea. I’m one to say I think it depends on… the item or the sector. For example, if you want more American car production, then yeah, you may want to tariff some of the import cars coming in to create more of that production of cars here on our soil, where some of them right now are being made off shore or in south america for example incentivize those folks to bring some of those plants back to the united states of america so i’m one that says if you use tariffs strategically it’s not bad for the economy it’s actually good for it but most economists out there scott will tell you the tariffs in general are just bad bad bad yeah i mean again i think it’s it’s situational i mean look if
SPEAKER 07 :
If Trump wins, Lighthizer is going to go after China right away. There’s talk of putting Lighthizer in as the chief of staff immediately because getting confirmed as a U.S. trade representative will take time. So starting January 20th, China hasn’t lived up to its end of the bargain on the phase one trade agreement. That was where they had to buy like $200 billion worth of goods over four years above and beyond 2017 levels. They’re going to call him out on that. You know, you got to remember, too, Lighthizer grew up in Ohio, which is where he the area he grew up is now the Rust Belt.
SPEAKER 05 :
Right.
SPEAKER 07 :
So, yeah, I mean, I think what they’re going to do with tariffs is they’re probably going to go after a lot of industrial inputs like alloys, like steel, aluminum, things like that. Yeah. And goods made abroad. Trump has talked about a 60 percent tariff on China goods and maybe 10 percent on all other goods. But I think when it comes to consumer-facing goods like beauty products, stuff like that, they’re probably going to back off a bit. But it’s more on the industrial input side that isn’t going to be as noticeable to people where it’s going to go up. But I have read some estimates that say if Trump pushes forward with his tariff plans, you’ll see inflation pop up by 1% initially. I would offset that by saying, The Federal Reserve has about 260 basis points or 2.6 full percentage points. We’re talking about interest rates of room cut before they get to neutral. So if inflation takes back up by a percent, the Fed still has room to cut interest rates. So, you know, that that makes me feel a lot better about the growth situation because the Fed has tools to immediately offset and help these things out.
SPEAKER 05 :
All right, if folks are looking to invest and do some things on their own right now, what should they be looking at?
SPEAKER 07 :
Yeah, you know, again, because of where yields are, I think they’re super high and they’re going to come back in afterward. After this election is done, I would look at the iShares 20-plus year bond ETF. The ticker symbol is TLT. And again, you know, I like the S&P 500 ETF. The ticker symbol there is SPY. And especially if Trump gets in, I would look at small cap stocks. I would look at the Russell 2000 ETF. The ticker symbol there is IWM.
SPEAKER 05 :
All right. I’ve got these in my notes. I appreciate it, Scott, very much. Have a great rest of your day. Next week, we may have a new president, you know, may have an election result. We may not. I guess we’ll find out as we talk next week. Definitely. All right, man. Appreciate you. Have a great night. And that, again, is Scott Garlis. And you can find him by going to Twitter, S. Scott Garlis. You can find him on X as well. Affordable Interest Mortgage is next, 720-895-0500.
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It’s time to leave your safe space. This is Rush to Reason on KLZ 560. All right, we are back.
SPEAKER 05 :
Got about a minute or so left here. And I think I’ve said this before, but I’ll say it again. I don’t remember a time and maybe it’s because my memory isn’t very good. And Charlie, you can correct me on this if I’m wrong, but I can’t remember an election cycle in the past. whereby previous presidents like Obama, Hillary Clinton, right now Joe Biden, of course, it’s rare that you have the president not be the incumbent running. But I can’t remember a time, Charlie, where we had this many ex-presidents running around for a particular candidate trying to be her mouthpiece. I just – yeah, thank you, Charlie. Not this many. You might get an endorsement here or there. You might get some ex-president to come to a particular rally and speak or do something along those lines. But to actually be out, quote-unquote, on the campaign trail trying to get this person, Kamala Harris, elected, I’ve never seen the likes of. For example, Obama. Obama. He spoke, I believe it was Monday night. And he was railing on Donald Trump for what happened at the Sunday Madison Square Garden rally. And he’s just upset from the tonality and the things that he was going through. I mean, you talk about pushing somebody’s buttons. Holy cow. And he said things along the lines of this. This is the reason why this election should not be close. It should be clear. Here’s a good rule. If someone does not respect you, if someone does not see you as fellow citizens with equal claims to opportunity, to the pursuit of happiness, to the American dream, you should not vote for them. In other words, he didn’t like the fact that Puerto Rico, the island, was being called an island of garbage. But then you’ve got Joe Biden, who last night called Donald Trump supporters garbage. It’s like, OK, Obama, what do you want here? You’re yelling at Donald Trump for saying he didn’t even say it. A comedian that was there said it. By the way, an antagonistic type comedian that that’s what he does for comedy. He said it, not Donald Trump. Yet the president of the United States, Joe Biden, called all Trump supporters garbage. I’ll leave it at that, guys. Listen to the National Crawford Roundtable next. This is Rush to Reason, Denver’s Afternoon Rush, KLZ 560.
