Chicago wakes up, Los Angeles unravels, and D.C. doubles down on lunacy. In this jaw-dropping third hour, Jersey Joe joins John Rush to unpack the latest unfiltered madness from the halls of Congress to the streets of LA and Chicago. A Democratic witness seriously argues Big Oil execs should be jailed for homicide—while arriving to the hearing in a gas-powered Uber. Meanwhile, the vice mayor of LA urges street gangs to take up arms against ICE, and Chicago residents unleash fiery rebukes against their mayor over illegal immigration and broken promises. Plus, John and Marty tackle housing affordability, Fed
SPEAKER 25 :
This is Rush to Reason.
SPEAKER 14 :
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 16 :
With your host, John Rush.
SPEAKER 21 :
My advice to you is to do what your parents did!
SPEAKER 12 :
Get a job, sir! You haven’t made everybody equal. You’ve made them the same, and there’s a big difference.
SPEAKER 24 :
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 12 :
Are you crazy? Am I? Or am I so sane that you just blew your mind?
SPEAKER 07 :
It’s Rush to Reason with your host, John Rush. Presented by Cub Creek Heating and Air Conditioning.
SPEAKER 08 :
And Hour 3, Rush to Reason, Denver’s Afternoon Rush, KLZ 560, Jersey Joe joining us now. Joe, how are you? John, I’m great. How about yourself? I’m always good. I appreciate you joining us.
SPEAKER 17 :
Hey, by the way, did you get that clip of what’s wrong with this guy’s engine?
SPEAKER 08 :
I did, actually, yes.
SPEAKER 17 :
Yeah, those are pretty easy. Pretty easy to figure out. So, John, we’ve got probably too much to talk about tonight. I’ve got three clips. You tell me which ones you want to play because we can probably only get two of the three in. We have the residents of Chicago unloading on the mayor about his harboring of illegal aliens. We have the vice mayor of Los Angeles urging street gangs to take up arms to do battle with ICE agents when they come into their neighborhoods. And we have a guy at a congressional hearing, a Democrat witness at a congressional hearing. advocating that oil company executives should be prosecuted and imprisoned for the crime of homicide.
SPEAKER 09 :
Let’s do that one first.
SPEAKER 17 :
All right. His testimony doesn’t start until the 1 hour, 30 minute, and 30 second mark.
SPEAKER 09 :
I got it.
SPEAKER 17 :
And this is Senator Ted Cruz, by the way.
SPEAKER 08 :
Yeah, this is Cruz.
SPEAKER 17 :
And the guy he’s questioning is a Democratic witness called by Senator Whitehouse, I believe, of Rhode Island.
SPEAKER 08 :
Okay, let me double check and make sure that we’ve got sounds set. Okay, Charlie, which we do. Okay, here we go. Takes a second for it to gear up, so give it one second here. Maybe. Come on, play.
SPEAKER 18 :
Here at the White House, one final bit of questioning for you, Mr. Arkush. Define for this committee what homicide means.
SPEAKER 03 :
Sure. So homicide is a legal term that refers to, it’s essentially a blanket term for any form of unlawful killing. And an unlawful killing is causing death with a culpable mental state. Causing a death means substantially contributing to it or accelerating it. And a culpable mental state could be negligence, knowledge, recklessness.
SPEAKER 18 :
So you wrote an article in 2023 entitled, quote, Climate Homicide, Prosecuting Big Oil for Climate Deaths. In that article, you argue that oil and gas executives could be prosecuted, not just sued, but criminally prosecuted for homicide, for murder based on climate change. Is that right?
SPEAKER 03 :
That’s right. I mean, I would be careful with the wording because murder, again, is a technical term. And definitely we’re not arguing that they could be prosecuted for first-degree murder. That’s killing with intent.
SPEAKER 18 :
But you want to put them in prison for homicide, lock them up, treat them as criminals, put them in – murderers get put – people who commit homicide get put in jails with violent criminals. And your position is this is a reasonable and rational thing that we should put – the people leading the energy companies in America producing 8.5 million jobs, we should arrest them and throw them in jail. Is that correct?
SPEAKER 03 :
It could be the case that some executives should be prosecuted in that way. Of course, you can’t put a corporation in jail, so there are other remedies in that situation.
SPEAKER 18 :
But you can put human beings in jail, and presumably you’d put the corporate officers in jail. Yes, you can. You’d prosecute them for murder. So don’t let there be any ambiguity. And by the way, Senator Whitehouse was really eager to make clear that you’re the minority witness. You’re the witness he wanted. He was eager to introduce you. I’m going to go on the record as saying that is a moonbeam, wacky theory that you want to prosecute people creating jobs and producing energy for murder. Let me ask you, Mr. Arkush, how did you get to the Capitol today? So…
SPEAKER 08 :
All right, I’m going to stop it there, Joe, because I already know the answer. He either drove flows or flew something along those lines. In other words, he used the gas company’s product to actually make it there in the first place.
SPEAKER 17 :
He took an Uber, and he admitted that it was an internal combustion-powered Uber. And then Cruz says, well, then, since you know the dangers of burning gas— Yeah, he uses the legal term mens rea, which means criminal intent.
SPEAKER 08 :
Yeah, aren’t you contributing?
SPEAKER 17 :
Yeah, and to see this guy squirm when he asked him, how did you get here today? And then he asked him, well, then why shouldn’t you be prosecuted for contributing to the deaths?
SPEAKER 08 :
Correct. Lunacy, Joe. Absolute, utter lunacy. And, you know, as I talk, especially even on Saturdays with Drive Radio and where new vehicles are today, even, Joe, from the time that I started doing, you know, Drive Radio some two and a half decades ago, not exaggerating, it’s how long I’ve been on on the weekends. So you look at where cars have come from. And they were pretty clean then, by the way. We had come a long way even at that point. You know, the… year, you know, 2000, 99, 2000, even vehicles then, they were pretty darn clean compared to vehicles that were even a decade older. And wow, Joe, where we’ve come in 25 years on vehicles and the lack of pollution that they actually emit is unreal.
SPEAKER 17 :
Right. And by the way, and let me say this, the production of crude oil in itself does not generate any meaningful amounts of greenhouse gases. I mean, You know, oil can be used to make asphalt, shingles. It’s the consumption and burning. So if you want to tax or sue anybody, you should be taxing the people who use it, not the people who produce it.
SPEAKER 08 :
True.
SPEAKER 17 :
Which, by the way, includes every city, federal, and state government in this county. You know, the state of California wants to sue the oil companies. Well, how many internal combustion engines… state of California, do you own and operate?
SPEAKER 08 :
A lot.
SPEAKER 17 :
A lot.
SPEAKER 08 :
Joe, a lot. I mean, all of these cities and counties, I’m glad you brought that up. I don’t think we’ve ever really covered that before on this program. They’re all such hypocrites because the same thing that they are advocating against and telling all of us that we cannot do, they are, in fact, doing themselves.
SPEAKER 17 :
Yeah, and again, it’s the usage, not the production, that contribute. If you believe, let’s assume for a minute they’re thorough at climate change’s you know, killing people and going to kill the planet. Well, it’s not the production of the crude oil. It’s the usage of the crude oil. In the state of California, you’re probably one of the biggest users of fossil fuels in the entire state of California. So why aren’t you suing yourself?
SPEAKER 08 :
You know, that is a great, great point, Joe. Again, one of those things that I don’t know that we or any guest I’ve ever had on has ever really even brought up. You know, how many government vehicles, you know, in this case, in the state of California, are there?
SPEAKER 17 :
And not your state of California, right. And we’re including municipal police departments, fire departments, you know, Department of Transportation, you know, the road crews. State of California, you are probably the single biggest user of fossil fuels in the state of California. Why aren’t you suing yourself?
SPEAKER 08 :
Good point. Yeah, in fact, all of these – this is going to crash. There are some states, Joe, where – you take a state like Wyoming where there’s not that much in regards to population, and I don’t know what the actual vehicle population in a place like Wyoming is, but the state of California in 2023 – has probably grown since then. All of the vehicles owned in California, state and federal, so this doesn’t count the local municipalities and so on like you’re talking about. This is just state and federal, and California is close to half a million.
SPEAKER 17 :
Vehicles, right, which again would make them the largest consumer of fossil fuels in the state.
SPEAKER 09 :
That’s right.
SPEAKER 17 :
You know, by a mile.
SPEAKER 09 :
That’s right.
SPEAKER 17 :
By the way, totally off topic, just I read this just before we came on air. The U.S. Department of Justice has filed an amicus brief, which means, you know, friend of the… Right, right. Because somebody has sued the state of Illinois over their ban on AR-15 style rifles, and the DOJ has joined in on the plaintiff’s side. So they’ve joined this amicus brief saying, yeah, we think the plaintiff is right, and we support the claim that you’re banned on AR-15s. is unconstitutional, which is a 180-degree reversal from the Biden administration.
SPEAKER 08 :
From what it’s been. That’s right. That’s right. Exactly right. All right. What’s the other one you want to cover? You pick.
SPEAKER 17 :
I don’t care. Can you do the one from Los Angeles? There is a 10- or 15-second commercial lead, and you’ll have to mute before you get there. This is on the L.A.
SPEAKER 08 :
County official?
SPEAKER 17 :
Yeah, and she’s the vice mayor.
SPEAKER 08 :
Okay.
SPEAKER 17 :
And for those not familiar with street gangs in Los Angeles, they mark their territories. You know, they spray paint, and basically you know when you’re going into their neighborhood. And if you’re an opposing gang member— and you cross the wrong side of the street, you’re dead. They’ll shoot you. They’ll kill you. And many, many of these gang members are, in fact, illegal aliens. Well, she’s urging these two particular street gangs, and one is called, I think, Fontana, the other is the 18th Street Gang, to literally take up arms when ICE comes to their neighborhood. So can we play this?
SPEAKER 08 :
Let me play it. Here we go.
SPEAKER 06 :
Not for nothing, but I want to know where all the cholos are at in Los Angeles. 18th Street, Florencia, where’s the leadership at? Because you guys are all about territory, and this is 18th Street, and this is Florencia. You guys tag everything up, claiming hood. And now that your hood’s being invaded by the biggest gang there is, there ain’t no peep out of you. It’s everyone else who’s not about the gang life that’s out there protesting and speaking up. We’re out there fighting our turf, protecting our turf, protecting our people. And where are you at? Bien calladitos. Bien calladitos. Todos los chulitos. Dude, they’re running amok all up on your streets. On your streets and in your city. And Pete, when the big… Unbelievable.
SPEAKER 08 :
I’ve got to leave it at that show. I can’t listen anymore. That’s ridiculous. First of all, how does she get elected?
SPEAKER 17 :
Yeah, and she’s the vice mayor of the city of Los Angeles, literally urging the street gangs to take up arms against ICE if they come into their neighborhood.
SPEAKER 08 :
Unbelievable.
SPEAKER 17 :
So, just… Drives me insane. Now, the one I like the best is there’s a town hall meeting. Now, and I’m going to mention this only because I think it’s relevant. The mayor of Chicago is a guy named Brandon Johnson. He’s a black man. The four people you hear challenging him about his broken promises and harboring illegal aliens, each and every one of these residents are also black. So you have four black residents calling out the mayor of Chicago and on his broken promises and harboring illegal aliens.
SPEAKER 05 :
Okay, here we go. …up there and said, you will not allow Trump to come in here and get these illegals. Yeah, you can smile. We’re in a billion-dollar deficit, and you spent half of our money, half of that, on illegals. You campaigned. You campaigned and doubled down. That you will not raise property taxes.
SPEAKER 27 :
I won’t raise your property taxes.
SPEAKER 05 :
You wanted to raise our taxes $300 million. They shut it down. Now we back here for $150 million. Okay. See, this is what we asking now. Since you want to crash out, some of y’all said y’all willing to go to jail for it. Trump. Tom Holman, make an example at this right here first. Please come here first. We’re going to spend our tax dollars to go, Michael Rob Reed, you said to take Trump to court to protect these illegals. That’s cool because we’re about to make all of y’all, all of us famous. Y’all think this is going to run? I think not. Flip Chicago real. We’re not playing.
SPEAKER 21 :
This was going to happen to you. You got Kash Patel and Pam Bundy that you’re going to have to deal with sooner than later. Then it’s going to be an audit. Next, it’s going to be an investigation. Then it’s going to be an indictment. Commission. That’s what’s going to happen to you.
SPEAKER 25 :
Mr. Brandon Johnson, I’m up here. I am speaking right now. So I will love your undivided attention, please.
SPEAKER 08 :
And the mayor’s doing something else, by the way. That’s why he’s saying this. The mayor’s off doing something else.
SPEAKER 25 :
So this just proves to you the lack of leadership that you show in this city. You can’t even give me straight eye contact. Now, I’m going to let you know now. The people of Chicago, we’re done with you. It is insane how we have been voting Democrat for over 60-plus years, and we’ve never seen a change from people like you, Lori Lightfoot, Rob Emanuel. It is insane. Chicago was 37% red. In 2020, it was only 15%. So we’re waking up. So you can pretend that this isn’t happening, but I know for a fact that you will not have that seat the next election.
SPEAKER 04 :
You’re so strong about protecting those aliens, but you won’t do nothing for the U.S. citizens.
SPEAKER 08 :
I’ll leave it at that. That was the end of that, Joe. I mean, wow, what a change in percentages in a town that you would have thought would have never, ever changed, meaning that when people get so sick and tired of being trampled all over, trampled all over, I should say, things start to change, Joe, and that’s what’s happening there.
SPEAKER 17 :
And who would have thought that you would have had a black people in Chicago pleading for Trump and Tom Holman to come into Chicago?
SPEAKER 08 :
I wouldn’t have, Joe. Honestly, if you would have told me that even four or five years ago, I would have said, yeah, no, that ain’t happening.
SPEAKER 17 :
Yeah. So, yeah, they’re turning on them, and I don’t think Chicago’s alone.
SPEAKER 08 :
Which, really quick, Joe, that shows you that no matter how— I guess maybe the way I should say it is when things get that bad, that they can finally see the destruction that the people that, as these people said, they have voted for, in that case, for 60 years, six decades, they’ve been voting for the same party, finally now waking up to the fact that you guys aren’t on our side. And, by the way, they’re not. You could tell from— You guys can’t see this because we’re just playing this, and you don’t have the ability to watch the video. We’ll put this in the show notes. You’ll have the ability to go watch it for yourself. But you should see, and Joe, you have, the body language of the mayor basically says, I don’t care about you people.
SPEAKER 17 :
Yep, he’s looking away. He’s looking down.
SPEAKER 08 :
He is not concerned in the least, Joe.
SPEAKER 17 :
Not in the least, so…
SPEAKER 08 :
Which, again, shows you, and I say this all the time and I mean this, and I wish other people would start waking up. I wish the left would start waking up. The left doesn’t care about itself, Joe. They will eat their own any time they can.
SPEAKER 17 :
It’s all about staying in power, doing what they have to do, and the people be damned. Talk about people be damned. John, did you talk this week about the group up in Colorado that helped the child rapists escape being arrested? No.
SPEAKER 08 :
I did not.
SPEAKER 17 :
Are you familiar with it?
SPEAKER 08 :
No, I didn’t read anything about it. Clue me in. I didn’t see it.
SPEAKER 17 :
Well, up in Longmont, there was a guy that ICE was looking for. He had been convicted of child rape in Italy and fled to the United States to escape. He’d already been prosecuted. He fled to escape being sent to prison in Italy. So he was hiding out in the United States. Italy put out through the European agency, they put out an alert, we want this guy. So ICE figured out, oh, we know where he is, he’s up in Longmont. So they put a car outside on the street watching him. And there’s a group in Colorado, and this was reported in the Denver Gazette, it’s called the Colorado Rapid Response Network. And their only goal in life is to help… is to help illegal immigrants evade capture.
SPEAKER 08 :
Evade police, basically.
SPEAKER 17 :
So before this one guy that was staking out his house could call for the rest of the guys, they tipped him off. They said, hey, there’s ICE agents on the street. They’re coming to get you. And they tipped him off, and he snuck out the back door, and his name was Jose Reyes Leon D. Ross.
SPEAKER 09 :
I see that.
SPEAKER 17 :
And they helped him. Escape and evade capture. Now, so you now have a child rapist running around somewhere in Colorado because this group tipped him off that ICE was coming to arrest him.
SPEAKER 08 :
What a bunch of sickos, Joe.
SPEAKER 17 :
You wonder, did they know he was a child rapist? Or were they just ignorant? It boggles the mind, John. I wonder if these people had any idea if they knew who they were helping to escape.
SPEAKER 08 :
Well, let me just say this. If they did, shame on them. I mean, shame on them anyways for interfering in something they don’t need to be interfering in, period. I mean, Italy basically put out a, you know, as you would say, an APB on, hey, we want this guy at the end of the day. If he was from El Salvador, basically, too, but to begin with. And at the end of the day, yeah, you got to know or you got to ask the question, what did this particular group know and why they still decide to do this?
SPEAKER 17 :
Yep, and maybe if they didn’t know, maybe they’ll think twice before they do it again and do a little research.
SPEAKER 08 :
Unbelievable, Joe. Unbelievable. First of all, I mean, I get it. Everybody’s got a cause, but is this the only thing these people can find to do?
SPEAKER 17 :
No, John, there’s so many other things they could be putting their time and energy to making, improving the lives of the people of Colorado, and helping criminal legal aliens escape capture is not one of them. Is not one of those. No, it is not. Hey, John, I know we’re running out of time. One more quick thing. Sure, go ahead. We’re finding all this fraud. Um, uh, USA ID, which of course, you know, Trump shut down the DOJ, uh, indicted four people for a 15 year fraud scheme. Four people have pled guilty to a 550 million USA bribery case. Wow. And, and none of it would have come to life had it not been for Doge.
SPEAKER 1 :
Wow.
SPEAKER 17 :
The four people are pleading guilty part of a half billion dollar bribery scandal, um, Anyway, the scheme involved cash, NBA tickets, paying for one of the executives’ country club’s wedding. It goes on and on and on. And they actually used a third party who didn’t have any contracts. The way it would work, USAID would award these contracts. One of them was for like $800 million to their buddies. And then the contractors would give money to a third party who didn’t have a contract with USAID. And that guy would take his cut. And then he would kick back the rest of the officials.
SPEAKER 08 :
Unbelievable. All of that has been so far nothing but a big laundry scheme. Laundering money, Joe, through that particular department, I guess you could say, has been what it’s been for a very long time.
SPEAKER 17 :
Yeah, and that’s how Stacey Abrams down in Georgia got $500 million. She opened a bank account. She created a nonprofit, put $100, opened a bank account with $100, and 90 days later she got $500 million in a grant from USAID. Unbelievable. Which, by the way, a lot of that was donated right back to the Biden campaign.
SPEAKER 08 :
Right, right. Unbelievable. Unbelievable. Joe, as always, I appreciate you. Thanks for your updates. My pleasure, John. All right, man, have a good night. Appreciate it very much. Talk to you next week. Geno’s Auto Service is up next. Any air conditioning problems at all with your vehicle, go to Geno’s. They’ve got a special right now. It’s genosautoservice.com, and Geno’s is with a J.
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SPEAKER 08 :
This is Rush to Reason on KLZ 560. All right, Rush to Reason, Denver’s Afternoon Rush, KLZ 560. Okay, I didn’t get much of a chance yesterday to talk to Scott Garlis about this, but there was an article out. In fact, I had a guest on earlier in the week that I actually asked this question to that seemed to sort of poo-poo this particular story, which I found, interestingly enough, today has resurfaced, and that is that Trump is considering naming the next Fed chair early. in a bid to undermine Jerome Powell. That’s coming out of the Wall Street Journal today. So Warsh, Hassett, and Besant are among those under consideration as Trump evaluates their commitment to cutting rates. President Trump’s exasperation over the Federal Reserve’s take-it-slow approach to cutting interest rates is prompting him to consider accelerating when he will announce his pick to succeed Chair Jerome Powell, whose term runs out in 11 months. Now, I’ve talked a ton about Jerome Powell. Not everybody agrees with me on this. That’s fine. We can agree to disagree. But let me tell you, when it comes to The economy, the small business end of things, the mortgage rate end of things, how houses work and so on, we are far too late in lowering rates at this point in time, and it’s now affecting and doing damage to the economy, not helping the economy. And it is supposed to be the Fed’s job to keep those things rolling along. Now, before anybody sends me a bunch of text messages and or calls and said, you know, We don’t need the Fed. It’s illegal. We shouldn’t have them. Okay, that doesn’t matter. I mean, I get that, and I get where some of you come from. That’s all fine and dandy. You can think that way, but the reality is we do have. We do have a Fed. You may not like it. You may think it’s wrong. You may think it’s illegal. You may think it’s not the way it should have been from day one. I get all of that, but we have it. And it affects everything that we do on a daily basis. I would be one to say that Jerome Powell probably has as much, well, financially speaking, has more power than the president. Now, when it comes to things like last weekend in regards to other countries and the bombing of and so on, yeah, he doesn’t have that power. But financially speaking, he sure does. Jerome Powell has a lot of power that has been bestowed upon him by being head of the Federal Reserve. And I am the first to tell you that I think he doesn’t do a very good job with his quote-unquote power. He didn’t raise rates quick enough when he should have to stave off inflation. He called it transitory. It wasn’t. And I was telling, and so was Andy and a lot of other people that I knew at the time, Scott Garlis as well, that no, it’s not transitory. It’s here. It’s going to be here. You could see it. It was plain as the nose on your face. And now that we’ve gone the other direction and inflation is no longer a problem and it’s headed the other direction, it’s time to cut rates. And he’s not. He won’t. And part of that is because he and he and, you know, Jerome Powell and Trump just don’t get along. And I feel like this wait and see approach isn’t because of what Jerome Powell thinks should happen economically. It’s because he doesn’t like Trump. And he is not going to put any kind of a feather in Donald Trump’s hat when it comes to this end of things. He is going to do every single thing that he possibly can to be against Trump, not for Trump. Marty, go ahead.
SPEAKER 19 :
Well, you’re just headed. That was my point. This was choreographed that if Kamala would have won or Joe Biden would have won, these rates would be slashed down.
SPEAKER 09 :
Agree.
SPEAKER 19 :
Nothing.
SPEAKER 09 :
Agree.
SPEAKER 19 :
And I both know that this hurts Trump. Now, it’s not working very well. That’s what’s backfiring. Here’s the tough spot, John. As soon as you lower rates. And those mortgage rates ticked down. Guess what? I just raised the price of my house. You got to buy it even up 75 grand because I know you have more now in your payment. John, that’s how we got here was this free money, cheap money. Old neighborhoods like mine should have no business selling for what they’re selling. So you got twofold rates ticked. High-priced homes, and then, John, tell me where they’re building and setting up brand-new, beautiful subdivisions for single-family homes. I don’t see any of that supply coming on either. It’s a major mess, so I’m glad you’re addressing it, John.
SPEAKER 08 :
There are some. As far as the single-family homes in Colorado, of course, on the front range here, it’s all on the outskirts. Marty, as you know, there’s nothing internal at all. Everything is either way up north, way out east, way down south, places like that. And you’re right. I mean, those low rates definitely had a huge factor in the raising of the values of homes and so on. Inflation does some of that, of course, as well. And we could talk the rest of the hour on how all this works together. The problem is, Marty, because of those low rates that a lot of people have gotten used to, It is, in fact, slowing the real estate market down to a crawl because people that have a very low rate and maybe in a lot of cases, I do think want to move. They want to either move to a different area. They want to upsize, downsize, whatever the case may be. But they won’t because they’re not going to give up that cheap rate they’ve got in. And by the way, I can’t say as I blame them that that other you know, that that extra three, four percent in some cases is a huge factor in buying the next house, no matter how much equity they’ve got right now. And they’ll just sit tight until those rates come back down. That’s exactly what they’re doing.
SPEAKER 19 :
That’s right. And, John, just to put it in reality, I don’t we couldn’t afford our house today at today’s prices and today’s rates. That payment would be too large. Right.
SPEAKER 08 :
And you are you and millions of others are the same way.
SPEAKER 19 :
Exactly. Second part of the rates thing is it’s also its most its main mechanism, even though they lie to us and say it’s to maximize employment and price stability. That’s the two mandates of the Fed that they talk about every single month that they’re doing not a good job with.
SPEAKER 09 :
Correct.
SPEAKER 19 :
The other trick that’s used mostly is stock market support. It’s been used as something to bounce stocks, go back to all, you know, kind of chaos moments, whether that was the housing crisis or 9-11. Or COVID, it’s a race to cut rates, and it does an automatic effect at the stock market level. It’s really bizarre. Actually, when you look at our inflation and our asset prices, asset prices are too high, and inflation is not coming down just status quo. The groceries are the same. All my bills are the same. Gas really is not. I can’t really feel a lot of difference there. But stock market prices are just as big of a problem. But here we are. At the top, John, we’re near records. We have these rates that probably should be moving up. It seems foolish for the Fed, with high inflation and high asset prices, to even suggest they would be cutting rates at these elevated asset prices. That just makes the common man squeezed even worse. He’s not going to get a piece of that rate cut to impact him enough because it offsets so many other areas, John, just on the prices we’re facing alone.
SPEAKER 08 :
Yeah, the biggest thing, though, too, that no one ever factors in, including the Fed, is keep in mind, Marty, that there are a ton of businesses, and a lot of them listening to us right now, that rely on lines of credit. They’ve got to fund their receivables, things along those lines. And those higher rates definitely affect them and, by the way, drive inflation because as the cost of those things go up in a business, so does the cost at the end of the day as to what they’re charging their customers. Of course, that gets passed on to the next customer and so on and so forth. So the reality is, and I believe it’s one of those things that the Fed just never looks at, is that borrowing cost for small businesses, which right now is is high. And it’s affecting even a lot of small businesses from growing, hiring, doing things, buying more equipment, things along those lines. And that’s the one thing that I don’t believe the Fed is looking at correctly at all. And they’re not or they would have lowered rates by now.
SPEAKER 19 :
Totally. Last thought, John, I think you have a good take on this one forever. Wages and housing prices track each other. They went up together. They trended together. We just connected from that some time ago. And now it’s huge chunks of a person’s income. You know what?
SPEAKER 08 :
I’m glad you brought that up, Marty, because I did something the other day along those lines. And I thought, you know what? Because you’re right. I’m not arguing with you. You are correct. Although here’s the caveat that nobody ever wants to talk about. I went back just for grins and said, OK, you know what? That’s right. The way things are tracking, even when I bought my first home and even looking at what my dad lived in and what he paid versus what his income was and so on, because I knew most of that back then at a pretty early age because I was one of those weirdos that started looking at things. You know, I bought a house at 21. And anyways, I was a weird kid. Anyways, regardless, Marty. The one thing that is different, though, today, and you’re right, I agree with you, but here’s the caveat. We all live, myself included, in much larger homes than we ever grew up in. My first home I bought was 900 square feet, and I grew up in a 7. 1700 square foot house that I thought was a mansion. And it’s nothing compared to what most people live in today. Marty, people are living in homes that are two and three times that square footage I just mentioned.
SPEAKER 19 :
Hey, we took the bait. They supersized this. And what was the cost? It made mom go to work to afford that house. That’s right. And that’s the shame.
SPEAKER 09 :
That’s right.
SPEAKER 19 :
Hey, I guess you pay for it on the short-term pleasure of a big home. Boy, did that change society.
SPEAKER 08 :
You’re right. And I agree with you. That ratio has definitely gone up. But the one thing that nobody ever throws in or throws in that caveat is we also all live in two to three times the size of home we used to.
SPEAKER 19 :
And the amenities are nothing like they looked 50 years ago. So, hey, it’s not like we’re not paying for it.
SPEAKER 08 :
That’s right.
SPEAKER 19 :
We needed those jobs.
SPEAKER 08 :
That’s right. That’s right.
SPEAKER 1 :
100%.
SPEAKER 08 :
Marty, thanks. I appreciate it. Let me go to Lionel, who’s next. Lionel, go ahead.
SPEAKER 10 :
I was just curious. You know, you brought up how some people think the Federal Reserve is illegal. They call it the creature from Jekyll Island. They snuck it in on Christmas Eve of 1913. When Trump had the military at his disposal a couple weeks ago, some people were wondering if he was actually going to do these mass arrests. Well, that didn’t happen. I was just trying to get your thoughts. Do you think that’ll ever happen?
SPEAKER 08 :
No, no, no, never going to happen. Nope. Nope. Those are all I mean, those are all great things to think about, talk about, even in regards to the whole, you know, Jekyll Island and all that sort of stuff, Lionel, which I’m not arguing anybody. I’m not saying that none of that is is incorrect. It is. But to get rid of the Fed today, not, you know. Not going to happen. And even a lot of these other folk that need arrested and so on. And there’s a ton of people in Washington and other places, Lionel, not just Washington, but other places around the country that need to go to jail. Not going to happen.
SPEAKER 10 :
Oh, yeah. Oh, okay. I just want to get your thought. You’re an intelligent man, and I appreciate listening to you.
SPEAKER 08 :
Well, thank you, Lionel, for listening as well. I appreciate you. And Lionel is 92 years old listening to the program. And, Lionel, I appreciate guys like you. I’ve learned a lot from a lot of folks that are older than me throughout my entire lifetime. I made it a point to hang around people that were older than me so I could learn more. in a better way and get as much information from them as i possibly could so lionel thank you so much for listening you’re a sharp individual and i appreciate that greatly roof savers of colorado coming up next and i say this a lot but i mean it don’t call your insurance company if you have any problem at all with your roof call dave instead 15 year workmanship and material warranty now on your roof that he would do for you on top of that he’s looking for some sales folks so if you’ve got a great sales background give dave a call as well three 303-710-6916.
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SPEAKER 16 :
The best export we have is Common Sense. You’re listening to Rush to Reason.
SPEAKER 08 :
Text message coming in, too, that with Independence Day being next week, next Friday, am I going to talk about how you go to the mountains safely with all the new folks that are out there? Yeah, but I’m going to do that more for Drive Radio on Saturday, to be honest with you. I just felt like that would fit better since it’s more of the traveling end of things and so on. So, yes, I will be talking about that on Saturday for Drive Radio. That was my plan. And then somebody else said that there are – of course 12 members or you know multiple members of the fed that vote and so on and jerome powell doesn’t control everything well um yeah i wish that were the case but he he still makes you know he is the president he is the final you know or chairman of the board i guess i should say chairman of the fed fed chair and all of the final decisions still come down to him even though everybody else votes and gives input and they have their meetings and so on He is still the one at the end of the day that makes the final call on what they do with rates and things along those lines. And that’s why he goes to Capitol Hill and has the meetings that he has and has to do the reports and so on. That’s all the chair’s job to do all of those things, which he did yesterday. You’re going to see them make a move next month. We will see. I may be right. I may be wrong. But I think you’re going to see at least a quarter point. You may see actually in July a half a point, because my gut feeling is you’re going to get July numbers that come out that essentially tell you that there’s still no inflation. All of the worries that he has had aren’t going to be there. And I think at that point in time, he’s not going to have much choice but to to do that. I want to go back really quick to the conversation with Marty about homes. This is something I was going to talk about on air a few weeks ago, and I just never got around to it. It was in my notes, and I just didn’t do it. So I appreciate Marty bringing that up. And that is the one thing that, again, it’s data. Data’s great. And so, you know, you’re going to see all of these different things written even about, you know, new home buyers. And, you know, they can’t afford what, you know, even I could afford when I bought my first home or what, you know, somebody else might have done even that was much older than me. Somebody like Lionel, who’s 92, that bought his first home. And so you’re going to hear all these certain articles and different things about how, you know, it’s much harder to buy a home today and the income level has to be so much higher to buy a home today and so on. Well, no. I’m going to argue that one for a moment. No, it doesn’t. It’s all in what you want. It goes back to what I had the conversation with Marty about a moment ago. It depends on how big of a house you want and where you want to live and what you want to do and so on and so forth. I mean, bear with me here. My very first rental, I didn’t own the home, but my very first rental was a mobile home, was a trailer. So, folks, let me tell you, you don’t have to go rent the high-end apartment or the high-end condo. You don’t have to. You can survive and live on a lot less than that if you want to. The problem is we are a spoiled society. And a lot of these young kids that are coming in to the workforce or whatever and they want to go out and buy their first home, well, they want what mom and dad have or even better than what mom and dad had. Or have, if your folks are still alive. That’s the problem that we’ve got, is most aren’t satisfied with having something less. They have to have something more. So, yes, when you have to have more… that difference of salary versus what you’re buying is a lot larger and it skews things and so i don’t think it’s always that fair to say that you know and it does cost more money today to buy a home than it did some you know decades ago but keep in mind the product that you’re buying isn’t one in the same it’s not apples to apples dan and blackhawk go ahead
SPEAKER 11 :
So I am working on two estates this year, my aunt and my cousin. Okay. My aunt was renting storage units because I think she was going to get a home here in Colorado when she moved to Colorado back in, I think, eight. My point is, they’re expensive.
SPEAKER 09 :
Right. Right.
SPEAKER 11 :
And so a lot of the… I’m not going to say this. I’m going to these storage units, and I’m seeing people coming in and out of them. They’re storing stuff in a storage unit because they don’t have room wherever they’re at. I’m like, you say you can’t afford a house, but if you’re paying $400 a month in storage fees, get rid of your stuff and bank that $400.
SPEAKER 09 :
Correct.
SPEAKER 11 :
A month, that’s $4,800. In two years, you’re going to have almost $10,000. Correct. To put as a down payment on a house.
SPEAKER 08 :
Correct. And, Dan, let’s not forget, too, that typically these are, and I know because I’ve talked to some of these people on a one-on-one basis, these are the same people that will have more cable and more channels and more things to watch than you and I have. And they’ll go to Starbucks, because I don’t go at all. They’ll go far more than I do. And, and, and, and, and, I’ll go down the list, Dan, of the things that they do that I don’t do.
SPEAKER 11 :
If you really want a house, you’re going to do what you want to do to get the house. Correct. But they want to complain. Correct. Because that’s the easy thing to do. Because complaining is much easier than actually complaining. putting forth effort to do which, if you really want a house, you’re going to do what you want to do.
SPEAKER 08 :
Well, and I don’t think I’m wrong, Dan, in what I’m saying when it comes to the expectations that a lot of these younger kids especially have. They look at what mom and dad have, and they think, well, I need to have that same thing. Well, maybe mom and dad live in a 5,000-square-foot house. Guess what? You’re not going to afford that as your first house. Not going to happen.
SPEAKER 11 :
No. No, I mean, so when I got ready to move out, I was looking at rent, And I’m like, why do I want to pay that money in rent? I can afford a small condo is what I got in the first place. And the amount was the same. It was the same as rent. So why pay rent when I could own and build equity?
SPEAKER 09 :
Correct. Absolutely.
SPEAKER 11 :
But I had to make the decision to not do some things that I enjoyed doing.
SPEAKER 20 :
Mm-hmm.
SPEAKER 11 :
But these people that want to complain that they can’t afford a house, like you said, you don’t start with a 5,000-square-foot house. You start with a 900-foot square house or a 1,000-foot square house on a small lot and don’t buy stuff in a storage unit. and then start putting money away so you can buy a bigger house, if that’s what your goal is.
SPEAKER 08 :
If that’s what your goal is, which, by the way, Dan, I am never going to criticize somebody that has goals and wants to move up and do better and have a larger whatever. I mean, if they want a nicer car, if they want a nicer home, if they want a second… You know what? Knock your socks off, Dan. You name it. You can go… This is the land of dreams. Go do whatever it is you want to do, but don’t expect me to pay for it.
SPEAKER 11 :
Right, and it’s going to take sacrifices on your part to do what you want to do too, you know, you got to make a decision of do I want this or do I want that? Which one do I want more? And like you said, going to Starbucks, doing cable, whatever else. that you’re spending money on. And by the way, the cable’s just brainwashing you.
SPEAKER 08 :
That’s true, too. Good point. Just quit watching it all together. Well, I’ll add some other things into that, too, Dan. I know I don’t have a lot of time. I’ve got to do commercials here in a moment. But, you know, it’s a Same where, you know, they’ve got to have the biggest and the best phone or the biggest and the best computer and laptop and this, that and the other. You just start running down the list of the things that, you know, you could run off a phone that’s three or four years old that hardly has any cost to it at all. Go buy a used one if you have. I mean, there’s so many things that you can do to save money to get to your goal, but they don’t want to make the sacrifice, Dan.
SPEAKER 11 :
Right. I always, when it’s time for me now, you know, my phone is a business asset. That’s different. Yeah, I know it’s different, but I go the full depreciation, and then it’s like, okay, time for another phone. But I don’t buy the newest phone. I always go a version or two behind. Right.
SPEAKER 08 :
Good point.
SPEAKER 11 :
But what I’m saying is I wait five years. or seven years, I don’t know, I can’t remember what it is. It might be seven years. I wait seven years, and then I’ll go get a phone when it’s fully depreciated. But that’s because I’m patient enough. I don’t need the newest and greatest. And it’s the same way with my laptop that I use for my business. I fully depreciate, and I even go past the depreciation, because to me, I’m saving money.
SPEAKER 09 :
That’s right.
SPEAKER 11 :
But that’s a choice I make. Could I get the best and fastest computer? I could, but I waited, and I get the fastest computer that I can afford. and then I wait five or seven years before I get another one. There you go. It’s decisions I make.
SPEAKER 08 :
There you go.
SPEAKER 11 :
Dan, as always.
SPEAKER 08 :
No, appreciate you, man. As always, somebody asked really quick, where do I go for coffee? I make my own in the mornings, folks. I don’t go anywhere. I go right to my own little machine, and it depends on what kind of coffee I want that day, whether I brew my own or do the K-Cup or whatever. But, yeah, I just make my own, and off I go. Golden Eagle Financial coming up next. Speaking of finances, talk to Al today. Find him at klzradio.com.
SPEAKER 23 :
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SPEAKER 16 :
It’s time to leave your safe space. This is Rush to Reason on KLZ 560.
SPEAKER 08 :
All right. Welcome back. Rush to Reason, Denver’s Afternoon Rush, KLZ 560. Wrapping things up for today, which, by the way, I appreciate each and every one of you listening in today. All the text messages as well. Lots of them, by the way, when it comes to now. Coffee shops, because I slipped that in really quick, and I’ve had several messages on. It’s amazing the amount of people that go to coffee shops that probably can’t pay attention, and yet they’re still there getting a $7, $8, whatever it is, cup of coffee at the end of the day. So that’s it for today, guys. Have a fabulous rest of your day. We’ll see you tomorrow, same place, same time. Rush to Reason, Denver’s Afternoon Rush, KLZ 560.
SPEAKER 1 :
Thank you.
No Kings, No Clue: Protest Logic Falls Apart