Latest / The Ben Ferguson Podcast / House Oversight Expands Inquiry into Biden’s Autopen Use & DC Crime Stats

Transcript

House Oversight Expands Inquiry into Biden’s Autopen Use & DC Crime Stats · The Ben Ferguson Podcast

0:01
Speaker 1: The Joe Biden autopen investigation continues to heat up. The
0:05
Speaker 1: headlines describe exactly what the game plan is of those
0:09
Speaker 1: that were around Joe Biden and just how massive the
0:12
Speaker 1: cover up actually is. Whether it's the AP saying quote
0:16
Speaker 1: Joe Biden aid invokes fifth to decline testimony and investigation,
0:21
Speaker 1: or the Guardian Republican leading inquiry into Biden's autopen use
0:25
Speaker 1: has digitally signed letters, or even the Daily Beast James
0:29
Speaker 1: Comber announces new investigation into Biden over the use of
0:32
Speaker 1: the autopen. Well, we now have new information as James
0:37
Speaker 1: Comer sat down with Fox News Sunday, and here is
0:40
Speaker 1: part of what he had to say about it. The
0:42
Speaker 1: assessment that Biden staffords are deliberately refusing to answer questions
0:49
Speaker 1: about the autopen use and providing extraordinary levels of obfuscation.
0:54
Speaker 1: Now James Comer seems to be really hammering in on
0:57
Speaker 1: the facts and continuing to press the investorstigation into whether
1:01
Speaker 1: Biden used an autopen to sign documents like pardons, raising
1:06
Speaker 1: major concerns about who may have truly been in charge
1:09
Speaker 1: during the final days, weeks, or months of the Joe
1:12
Speaker 1: Biden presidency. Now in May of this year, Comer initiated
1:17
Speaker 1: a fresh probe. He issued letters to key aids, including
1:21
Speaker 1: many of those close to President in non political roles
1:24
Speaker 1: for example, like Biden's physician, doctor Kevin O'Connor, and warning
1:29
Speaker 1: of subpoenas if they don't cooperate. Fast forward to June
1:33
Speaker 1: of this year, testimony from several raised major red flags,
1:37
Speaker 1: some admitting limited direct interaction with Biden and no insight
1:42
Speaker 1: into the autopen approval process, suggesting a total lack of
1:47
Speaker 1: transparency or oversight. And then the Fifth Amendment invocations continued.
1:54
Speaker 1: On July the sixteenth, a former aid to First Lady
1:58
Speaker 1: Joe Biden invoked the Fifth the Mania during his Oversight
2:01
Speaker 1: Committee appearance, becoming the second such individual in the probe
2:05
Speaker 1: to do so. Comber responded by stating that the public
2:08
Speaker 1: is concerned about unaccountable decision making within the White House.
2:13
Speaker 1: In other words, who was actually in charge. The bottom
2:17
Speaker 1: line is clear representative. Comer asserts he now has unprecedented
2:22
Speaker 1: evidence of a cover up involving the autopen use and
2:27
Speaker 1: Biden's cognitive decline. Now, this is what he had to
2:30
Speaker 1: say on Fox Sunday Morning.
2:33
Speaker 2: Take a listen.
2:34
Speaker 3: This week, the House Oversight Committee is set to continue
2:36
Speaker 3: its investigation into Joe Biden's mental fitness during his presidency
2:40
Speaker 3: when former White House Deputy Assistant Andrew Bates sits down
2:44
Speaker 3: for an interview on Friday. Former White House Press Secretary
2:48
Speaker 3: Kareeine Jean Pierre, and former White House Chief of Staff
2:51
Speaker 3: Jeff Zience are also slated to peer before the committee
2:55
Speaker 3: in coming weeks. Joining me now with more on his
2:58
Speaker 3: investigation into former President Biden and in the chairman is
3:01
Speaker 3: the chairman of the House Oversight Committee, Congressman James Comer.
3:05
Speaker 3: It's great to have you with us this morning.
3:07
Speaker 2: Welcome.
3:08
Speaker 3: I want to get the latest on the investigation, Congressman,
3:10
Speaker 3: but also what we've heard so far, key figures, taking
3:14
Speaker 3: the fifth key figures that day after day said that
3:17
Speaker 3: Biden was totally fit and ready to do the job.
3:20
Speaker 3: Now saying they really didn't spend that much time with him.
3:25
Speaker 3: The testimony doesn't add up with what we saw.
3:28
Speaker 2: Something is awry here, something's definitely awry.
3:32
Speaker 4: Look when you have Ian SAMs, who was the face
3:36
Speaker 4: of the White House response to the very damaging report
3:41
Speaker 4: that said that Joe Biden was a forgetful old man.
3:45
Speaker 4: He was the face of the White House response to
3:48
Speaker 4: our investigation Byron Donalds and myself as well as all
3:51
Speaker 4: the members of the House Oversy Committee, when we found
3:53
Speaker 4: that China had in fact wired money to LLC's owned
3:58
Speaker 4: by Biden family members. He was the one that would
4:00
Speaker 4: always respond and say he talked to Joe Biden, Joe
4:03
Speaker 4: Biden was vibrant, Joe Biden did not do this, The
4:05
Speaker 4: families sayesn't, and then come to find out when we
4:08
Speaker 4: put him under oath, he admits, well, I only saw
4:11
Speaker 4: Joe Biden two times over a two year period. That's unprecedented.
4:15
Speaker 4: We're trying to get to the bottom of who was
4:17
Speaker 4: operating the autopen and and we've brought in a dozen
4:21
Speaker 4: people so far, and they're all pointing the fingers at
4:24
Speaker 4: other people, the ones that I think may have a
4:27
Speaker 4: little more knowledge. They pled the Fifth to avoid self incrimination.
4:30
Speaker 4: So I think what you're gonna see iss unless John
4:34
Speaker 4: Pierre and some of these others come in and, you know,
4:38
Speaker 4: tell us more. It's becoming very apparent that Joe Biden
4:42
Speaker 4: really wasn't the one in command at the end of
4:44
Speaker 4: his presidency. And that's important because you're talking about thousands
4:48
Speaker 4: of pardons and dozens of executive orders that were signed
4:51
Speaker 4: with that autopen, and it appears without President Biden's knowledge.
4:55
Speaker 3: Absolutely, I want to move to this ten FBI whistleblowers.
4:59
Speaker 3: They they warned of political weaponization, and they also say
5:03
Speaker 3: that they faced retaliation from the Biden administration. We've been
5:06
Speaker 3: talking about this weaponization as a theme. It touches so
5:09
Speaker 3: many different aspects of what we've discussed just this morning alone.
5:14
Speaker 3: But it also shows you that it's not just the
5:16
Speaker 3: president who has faced this. It flows into all different
5:20
Speaker 3: levels and to everyday people that are just trying to
5:23
Speaker 3: serve and do their duties.
5:26
Speaker 2: Yeah.
5:27
Speaker 4: Well, look, the government is comprised of an overwhelming number
5:31
Speaker 4: of liberals, an overwhelming number of activists. During the Obama
5:35
Speaker 4: and Biden years, the government number swelled of liberal activists
5:40
Speaker 4: that came in. Whether they worked for the EPA or
5:42
Speaker 4: whether they worked for the Department of Justice or the FBI,
5:45
Speaker 4: they had an agenda. They weren't necessarily public servants. The
5:49
Speaker 4: ones that rose to the top were activists, and these
5:51
Speaker 4: activists tried to weaponize the federal government in various forms,
5:55
Speaker 4: whether to enact policy or whether to ruin the lives
6:00
Speaker 4: of people or influence elections as we've seen. So now
6:02
Speaker 4: we have people in place like Tulca Gabbert and John
6:05
Speaker 4: Ratcliffe and Cash Betail who are exposing this. Congress has
6:09
Speaker 4: exposed this, the House Oversught Committee is exposed to the
6:12
Speaker 4: Judiciary Committee under Jim Jordan's exposed it. Now we need accountability,
6:16
Speaker 4: and I'm hopeful that Pam Bondy will take this evidence
6:19
Speaker 4: and her Department of Justice will start holding people accountable.
6:22
Speaker 4: And we're seeing President Trump be more active on truth
6:25
Speaker 4: social encouraging his own Department of Justice to hold people
6:29
Speaker 4: accountable for wrongdoing. And I think it's going to happen.
6:32
Speaker 1: And I think it's going to happen very clearly. James
6:35
Speaker 1: Comer sharing unprecedented details surrounding the by not open investigation
6:39
Speaker 1: and also what the White House is doing to hold
6:42
Speaker 1: people accountable as well. This is exactly what so many
6:45
Speaker 1: Americans voted for and why I think there's many in
6:48
Speaker 1: Washington right now, in the Deep State that are very
6:50
Speaker 1: concerned about what's happening now. By the way, Comber wasn't
6:55
Speaker 1: done there. He also was asked this question listen carefully.
6:59
Speaker 3: And the weapon is is really interesting because in some
7:01
Speaker 3: ways it serves as a distraction. Look over here, so
7:05
Speaker 3: you're not really focusing on what was over here. Many
7:07
Speaker 3: Americans want to know what went on with Special Counsel
7:10
Speaker 3: Jack Smith going after the president. They want to know
7:13
Speaker 3: about Jim Comey and John Brennan and Russiagate and where
7:16
Speaker 3: the accountability is in those instances.
7:19
Speaker 4: I completely agree, as I travel Kentucky as well as
7:22
Speaker 4: all across America. That's the biggest question I get from people.
7:26
Speaker 4: When are people going to be held accountable for this wrongdoing?
7:29
Speaker 4: The evidence that the investigations are complete, more and more
7:32
Speaker 4: evidence is surfacing.
7:33
Speaker 5: One of the limiting.
7:34
Speaker 4: Factors we had, whether it was Jim Jordan's Weaponization Subcommittee
7:39
Speaker 4: or my House Oversight Committee, was the fact that the
7:41
Speaker 4: Bideny administration wouldn't turn over documents. Now we've got Trump
7:45
Speaker 4: administration officials lack Cash, Mattel and like John Ratcliffe and
7:49
Speaker 4: Tulsea Gabbart who are making public these documents. So I
7:53
Speaker 4: think the case now for the Department of Justice, Trump's
7:56
Speaker 4: Department of Justice, Pam Body's Department Justice is now there
8:00
Speaker 4: to hold these people account. When I think you're seeing
8:02
Speaker 4: more hints from President Trump that the day of accountability
8:08
Speaker 4: is near, and hopefully this is going to set an
8:10
Speaker 4: example for future people in the government never to let
8:14
Speaker 4: this deep state rise again and to try to weaponize
8:17
Speaker 4: the government to punish your enemies or to enact liberal
8:22
Speaker 4: legislative agendas like the Green New Deal.
8:25
Speaker 3: On Tuesday, Sir, House members are going to meet with
8:28
Speaker 3: Epstein victims. How is that going to play into how
8:32
Speaker 3: the Department of Justice is handling this As Americans have
8:35
Speaker 3: said they want to see the files and I want.
8:38
Speaker 2: To command the Department Justice.
8:40
Speaker 4: Pam Bondis has started turning over those documents to the
8:44
Speaker 4: House Oversite Committee is subpoena those documents. The Trump administration
8:49
Speaker 4: is cooperating with us. We're bringing in the families and
8:53
Speaker 4: the attorneys of the victims Tuesday afternoon to talk to
8:56
Speaker 4: the House oversighte Committee. This will be Republicans and Democrats
9:00
Speaker 4: because we're going to make this information public. That's what
9:03
Speaker 4: the American people want. When we travel around all of
9:05
Speaker 4: our districts. That's one of the things that people ask,
9:08
Speaker 4: when are we going to see the Epstein files. But
9:11
Speaker 4: it's very complicated because there are victims of the Epstein
9:14
Speaker 4: files and we want to listen to those victims and
9:16
Speaker 4: their families and their attorneys to see how best can
9:19
Speaker 4: we present this information. Do they want their names redacted?
9:22
Speaker 4: Do they not want their names redacted? And that's so
9:25
Speaker 4: that's one of the things that President Trump's talked about,
9:27
Speaker 4: like this is a lot more complicated than then. A
9:30
Speaker 4: lot of people want to realize there are victims that
9:32
Speaker 4: are involved here, and we want to protect their their
9:36
Speaker 4: futures and their reputations and their families. So we're going
9:39
Speaker 4: to have a good conversation to see how best then
9:42
Speaker 4: to turn around and present this information to the American
9:46
Speaker 4: people and hopefully put this issue to rest so Congress
9:49
Speaker 4: can focus on passing the spending bill and working with
9:52
Speaker 4: President Trump to reduce crime in our big cities.
9:55
Speaker 1: Translation, it is a very big week in Washington, d C.
9:59
Speaker 1: And James Comer helping lead the way on the House side.
10:03
Speaker 1: Many Democrats on the Senate side are worried about the
10:05
Speaker 1: Republicans there, and the media is obviously terrified what's happening
10:09
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Speaker 1: to seven to two Patriot. If you're a Democrat, what
12:21
Speaker 1: is the easiest way to make crime go down?
12:24
Speaker 2: Well, apparently it's not actually fighting crime.
12:26
Speaker 1: You just change and alter the stats to make it
12:29
Speaker 1: look like a city is getting safer. We now know
12:32
Speaker 1: that the Congressional Oversight probe is official, and the House
12:37
Speaker 1: Oversight Committee, led by Representative James Comer, has launched an
12:41
Speaker 1: investigation into what they described as quote disturbing allegations that
12:46
Speaker 1: the DC Metropolitan Police Department intentionally manipulated crime data to
12:53
Speaker 1: paint a rosier picture of public safety than what the
12:56
Speaker 1: reality was on the ground.
12:58
Speaker 2: Another way of putting.
12:58
Speaker 1: It is they would change and alter the way they
13:02
Speaker 1: would report on serious crimes to make you feel like
13:05
Speaker 1: it's safer of a city than it really was. How
13:08
Speaker 1: do we know this? A whistleblower reportedly told the committee
13:12
Speaker 1: that crime statistics were manipulated on a widespread basis and
13:17
Speaker 1: that the direction of supervisory officials potentially affecting all seven
13:25
Speaker 1: patrol districts in the District of Columbia. The Justice Department
13:29
Speaker 1: has a criminal inquiry now, and the US Attorney's Office
13:33
Speaker 1: for the District of Columbia, under US Attorney Jeanine Pirino
13:37
Speaker 1: you know her as Judge Janin from Fox News Channel,
13:40
Speaker 1: has initiated a criminal investigation into whether the DC police
13:46
Speaker 1: officials systematically quote altered crime reports to artificially suppress violent
13:53
Speaker 1: crime rates. This probe was triggered by the suspension in
13:58
Speaker 1: May of the command who led the third District in
14:02
Speaker 1: DC and is accused of downgrading serious instances such as
14:07
Speaker 1: stabbings and carjackings to make the crime stats look better,
14:12
Speaker 1: Which brings us to James Comer. He went on Fox
14:15
Speaker 1: News Channel and a linked the interview explaining exactly what's
14:18
Speaker 1: going on. I want you to hear what he had
14:21
Speaker 1: to say. Take a listen to this.
14:24
Speaker 6: Furthering President Trump's efforts to crack down on crime in
14:27
Speaker 6: our nation's capital. According to a report, House Republicans already
14:31
Speaker 6: with a slew of DC crime bills. The House Oversight
14:35
Speaker 6: Committee is also launching an investigation into possible crime data manipulation.
14:41
Speaker 6: Here now with more House Oversight Committee Chairman James Comber
14:46
Speaker 6: chairman said, thanks so much for joining us. Most people
14:48
Speaker 6: don't realize, but the chairman of the Oversea Committee has
14:50
Speaker 6: jurisdiction on the White House. They also have jurisdiction on Washington,
14:54
Speaker 6: d C. So this idea that these crime data had
15:00
Speaker 6: potentially been manipulated, what have you seen? Where is this going?
15:06
Speaker 6: What are you looking for?
15:08
Speaker 4: Well, first of all, for those of us who have
15:10
Speaker 4: lived in Washington, d C. Over the past several years,
15:12
Speaker 4: especially the past twelve months, we don't see any reduction
15:16
Speaker 4: in crime. But yet that's been the talking point for
15:19
Speaker 4: the liberal media, for the Democrats in Washington because they
15:22
Speaker 4: knew that President Trump campaigned and said he would do
15:25
Speaker 4: whatever it takes to get the crime crisis under control.
15:27
Speaker 5: In Washington, d C.
15:28
Speaker 4: So lo and behold the Washington d C. Statisticians come
15:32
Speaker 4: out and say, oh, crime's down fifty percent, carjackings are
15:36
Speaker 4: down fifty percent, when we see on the news every
15:38
Speaker 4: day multiple carjackings, homicides every day. The employees in our
15:45
Speaker 4: congression officers look out the window at all hours of
15:47
Speaker 4: the night and see kids running around spray painting, breaking things,
15:51
Speaker 4: stealing things. What we see is not what the statistics reflected.
15:55
Speaker 4: So we've seen time and time again where Democrats collude
16:00
Speaker 4: with people in the government who do things like the
16:03
Speaker 4: census and do things like recording statistics, that we have
16:08
Speaker 4: reason to believe that they've been lying about these statistics
16:11
Speaker 4: to have a talking point to try to prevent Donald
16:14
Speaker 4: Trump from doing exactly what he's doing, and that is
16:17
Speaker 4: sending the National Guardian to control the out of control
16:20
Speaker 4: crime in Washington, d C. So that's one thing we're
16:22
Speaker 4: working on the other thing. As you mentioned, we're working
16:25
Speaker 4: with the White House now on several bills that were
16:28
Speaker 4: pertain to reining in the out.
16:31
Speaker 2: Of control crime in Washington, d C.
16:32
Speaker 4: This is based on a city that is passed excessive
16:36
Speaker 4: criminal justice reform to the point to where you don't
16:39
Speaker 4: get arrested unless you commit a murder. And we've seen
16:42
Speaker 4: time and time again people get caught for carjacking in
16:45
Speaker 4: the morning, they get let out, and by that afternoon
16:48
Speaker 4: and evening they've tried to carjack again. So these are
16:52
Speaker 4: the issues we're working with the White House, and I
16:54
Speaker 4: think September is going to be a very busy month
16:56
Speaker 4: for the House Oversight Committee as we work with President
16:58
Speaker 4: Trump to try to legislation to reduce crime in.
17:02
Speaker 2: Washington, d C.
17:04
Speaker 5: Oh.
17:04
Speaker 6: Yeah, you want to see liberals and Democrats square and
17:07
Speaker 6: wait till these bills start coming up on the floor.
17:09
Speaker 6: Are you going to vote in favor of or against?
17:11
Speaker 6: You know, cashless bail and these types of debates on
17:14
Speaker 6: the floor are just going to be right because there's
17:16
Speaker 6: one party that's for law and order, that's Republicans. There's
17:19
Speaker 6: one party that's against it, that's the Democrats. And when
17:22
Speaker 6: you all start putting those bills up on the floor
17:24
Speaker 6: and you have to fort and you force people to vote,
17:27
Speaker 6: that's going to be highly entertaining, and not just entertaining,
17:31
Speaker 6: it'll be illumative. It'll illuminate the problem and the difference
17:35
Speaker 6: between the political parties. One last quick question, Chairman, is
17:40
Speaker 6: this also these crime statistics.
17:42
Speaker 2: I look at.
17:43
Speaker 6: Chicago, I look at la I look at California. I
17:45
Speaker 6: don't believe that what this they're doing is that something
17:49
Speaker 6: else that the committee can get after, because the crime stats,
17:53
Speaker 6: I'm telling you, they don't get they're not on there
17:56
Speaker 6: if they don't get reported, and then they brag about
17:59
Speaker 6: how crime is but everybody knows that's not true.
18:03
Speaker 4: Everybody knows it. Whether you're in Louisville, Kentucky, whether you're
18:06
Speaker 4: in Chicago, Illinois, all the big cities in America are
18:08
Speaker 4: facing a crime crisis. Because we have liberal prosecutors, we
18:12
Speaker 4: have liberal judges. We've taken criminal justice reform to the excesses.
18:17
Speaker 4: People aren't being held accountable for crimes. Therefore more people
18:21
Speaker 4: are committing crimes. I think if we can prove that
18:24
Speaker 4: Washington d C. Has been dishonest with their statistics. We'll
18:28
Speaker 4: take this show on the road to other cities because
18:31
Speaker 4: we've got to get serious about crime. The American people
18:33
Speaker 4: expect somebody to do something about it. The Democrats aren't
18:36
Speaker 4: doing anything about it. President Trump is, and the Republicans
18:38
Speaker 4: in Congress hopefully we'll be too.
18:41
Speaker 1: You notice one of the most important things that was
18:43
Speaker 1: said there by James Comer was we're going to take
18:45
Speaker 1: this show on the road. He is echoing what the
18:47
Speaker 1: President of the United States of America has said. If
18:50
Speaker 1: Democrats refuse to keep Americans safe, the federal government is
18:53
Speaker 1: going to do everything in their power to actually keep
18:56
Speaker 1: you safe, and they're not going to back down. Now
18:59
Speaker 1: this this also is a disaster politically for Democrats. Why
19:04
Speaker 1: would you want to be so against actually fighting crime
19:09
Speaker 1: but apparently willing to lie and alter crime statistics when
19:14
Speaker 1: you know that that is not giving a real sense
19:17
Speaker 1: of safety for the people that you claim to care about.
19:21
Speaker 1: Let's also just talk about the racial aspect of this
19:24
Speaker 1: for a moment.
19:25
Speaker 2: The majority of people.
19:25
Speaker 1: That are dying in many of the cities that are
19:27
Speaker 1: the most dangerous in America or African Americans, they claim
19:31
Speaker 1: that black lives matter.
19:33
Speaker 2: If black lives actually.
19:35
Speaker 1: Mattered, then why on earth would they not do everything
19:41
Speaker 1: they can to stop crime the way that the President
19:43
Speaker 1: of United States of America is wanting to do it.
19:45
Speaker 1: By the way it's working in DC, it is a
19:48
Speaker 1: perfect model to roll out in Baltimore, New Orleans, in
19:51
Speaker 1: Memphis and Chicago, in any major city that is filled
19:57
Speaker 1: with violent criminals. It is now to bely frustrating if
20:02
Speaker 1: you live in one of those cities and you now
20:04
Speaker 1: know clearly that the government that you elected is deliberately
20:09
Speaker 1: not keeping you safe and maybe lying about how dangerous
20:14
Speaker 1: the city actually is instead of actually fighting the criminals.
20:18
Speaker 1: And this is what the President is clearly going to do.
20:22
Speaker 1: The President is going to expose this. James Comer is
20:25
Speaker 1: going to expose it. They're going to go to these
20:28
Speaker 1: cities and say we are here to help. And the
20:31
Speaker 1: question you need to ask is why are your local
20:33
Speaker 1: elective officials fighting us? Now, this is going to be
20:36
Speaker 1: a political showdown, and the question is who's going to
20:39
Speaker 1: win the hearts and minds of the people in these cities.
20:42
Speaker 1: My money is on President Donald Trump. I know that
20:46
Speaker 1: Donald Trump has been saying for quite some time that
20:48
Speaker 1: he believes that interest rates are far too high, holding
20:51
Speaker 1: back America's economy and making it harder for Americans to
20:54
Speaker 1: own a home and to borrow money for small business
20:57
Speaker 1: loans and things like that. Well, there's been a war
21:01
Speaker 1: with Jerome Powell, and Jerome Powell actually opened the door
21:04
Speaker 1: finally to cuts in his August to twenty second Jackson
21:09
Speaker 1: Whole speech, saying quote conditions may warrant easing soon and
21:15
Speaker 1: stressing the Fed will move carefully based on inflation and
21:19
Speaker 1: the softening labor market. Now, part of this revolved around
21:24
Speaker 1: the real concern in the labor market. There are real
21:27
Speaker 1: worries and stress tests. Powell highlighted the job market as
21:32
Speaker 1: quote red flags, reinforcing why a cautious cut could now
21:38
Speaker 1: finally be on the table. CBS News even reporting on this,
21:42
Speaker 1: saying the inflation risks still matter, saying he flagged terror
21:47
Speaker 1: related prices pressuring the related FED and said that look,
21:53
Speaker 1: we're trying to do what we've got to do. They
21:55
Speaker 1: won't allow a quote one time price bump to become
21:58
Speaker 1: persistent inflatation, so deep rapid cuts are quote unlikely as well. Now,
22:06
Speaker 1: the market reaction to this was interesting. Stocks rallied Friday
22:09
Speaker 1: on the Davis tone then cooled at Monday's open as
22:13
Speaker 1: enthusiasm faded for what he actually said. Now, I want
22:17
Speaker 1: you to actually hear the reality of the situation. Peter
22:21
Speaker 1: Navarro at the White House talking on Fox Business Jennal
22:25
Speaker 1: with Maria Bartiromo, and I want you to hear what
22:28
Speaker 1: he said about all of this happening in Jackson Hall,
22:32
Speaker 1: and Powell said, Look, this is what we all knew
22:35
Speaker 1: all along. He's finally acknowledging what the Trump camp has
22:38
Speaker 1: been saying all along, that interest rates are too high
22:42
Speaker 1: and holding us back. Here is again, Peter Navarro at
22:46
Speaker 1: the White House, in his own words.
22:48
Speaker 7: Peter, it's great to see you this morning. Welcome, and
22:50
Speaker 7: I know you have an op ed out on Jay
22:53
Speaker 7: Powell which is going to be coming out later on
22:54
Speaker 7: in the week. Give us your assessment of the Chairman's
22:57
Speaker 7: speech and this new thinking for September's cut.
23:00
Speaker 8: Maria, great, thanks for asking. Look, it was twenty minutes
23:04
Speaker 8: of Powell gobbledegook in thirty seconds of pure Trump beauty.
23:09
Speaker 8: Powell finally acknowledged what we've been saying in the Trump
23:13
Speaker 8: camp all along, that tariffs don't create inflation. He had
23:17
Speaker 8: two sentences that said One, they don't even if they
23:22
Speaker 8: might create some inflation, it's only a one shot deal,
23:26
Speaker 8: so there's no inflationary spiral. And two, in the second sentence,
23:30
Speaker 8: he said that's not going to stop him from cutting rates.
23:33
Speaker 8: The markets off, they went, Maria, I'm on record as
23:37
Speaker 8: saying Dallas hitting fifty thousand. I said that, Maria, by
23:40
Speaker 8: the way, when we were at the plunge, the drop
23:44
Speaker 8: when Donald Trump first introduced the tariffs this term, and
23:48
Speaker 8: the market's rebounded, and it's going to be a rocket
23:51
Speaker 8: ship because we're going to have price stability and economic
23:56
Speaker 8: growth from the various aspects of Trump policy, the deregulation
24:01
Speaker 8: of tax cuts, the strategic energy dominics, and guess what
24:05
Speaker 8: fair trade, which is getting this tariffs. They're going to
24:07
Speaker 8: pay down our debt, pay down our debt, pay down
24:10
Speaker 8: our debt, and pay for the big beautiful tax bill.
24:14
Speaker 2: Now.
24:15
Speaker 1: Look, the markets obviously liked what he had to say.
24:18
Speaker 1: I thought it was interesting how Navarro said, Look, this
24:20
Speaker 1: is thirty forty five minutes of gobblygook with a you know,
24:23
Speaker 1: thirty seconds of Trump brilliance, where he's admitting what Donald
24:27
Speaker 1: Trump has been saying. Along you're holding back the economy.
24:31
Speaker 1: I also want you to hear what Charles Pain, good
24:33
Speaker 1: friend of mine, had to say at Fox Business Channel
24:36
Speaker 1: about this as the stock mark is responding and soaring
24:40
Speaker 1: and why why did that happen? Because they understand that
24:43
Speaker 1: lowering interest rates in September could have a big impact
24:47
Speaker 1: not only on our debt I'm talking about the federal
24:49
Speaker 1: government's debt, all right, but also could have a very
24:53
Speaker 1: big impact on something else. That's something else is on
24:57
Speaker 1: you and your dollars every single month.
25:00
Speaker 2: Take a listen, and.
25:02
Speaker 5: Everyone, I'm Charles paying this is making money. So last
25:06
Speaker 5: week was monumental on several fronts, right, notably the stock market,
25:11
Speaker 5: which you could see that the red all week long.
25:13
Speaker 5: In fact, we had a five day losing streak and
25:16
Speaker 5: that made Friday really, let's face it, there was sort
25:19
Speaker 5: of a do or die session. Major intersees, of course
25:21
Speaker 5: the sword sword on that Jackson Hole speech, but the
25:25
Speaker 5: composition of the rally change, and I think that's one
25:28
Speaker 5: of the big newsworthy things. This is for the week, right.
25:31
Speaker 5: You rarely see this, but the big red boxes, the
25:33
Speaker 5: big red rectangles, and those are your tech names, those
25:36
Speaker 5: are your mega cap names and summer down a lot,
25:38
Speaker 5: Palunteered down over ten percent, Microsoft, Apple, They all took
25:42
Speaker 5: pretty good hints. Meanwhile, more broadly, look at this all
25:45
Speaker 5: the other stocks of four ninety three stepping up to
25:48
Speaker 5: the plate and then they're small caps. A lot of
25:51
Speaker 5: false starts this year, but for the week, small cap well,
25:54
Speaker 5: there were small cap value, small cap core or small
25:57
Speaker 5: cap growth actually outperforming huge. One of the best weeks
26:01
Speaker 5: for small caps in a long time. The question is
26:03
Speaker 5: will it sustain itself? Can it be sustained? Of course,
26:06
Speaker 5: the other big news of the week, going back to
26:09
Speaker 5: Jackson Hall, is where many thought that Jay Powell will
26:12
Speaker 5: be confrontational, right, or at least, let's be honest, the
26:16
Speaker 5: media trying to nudge Jay Powell into the corner of
26:20
Speaker 5: sort of with these NonStop stories. He's going to stick
26:23
Speaker 5: to his guns. He's going to give it to President Trump.
26:25
Speaker 5: You know, he's not going to be pushing around. Well,
26:27
Speaker 5: they were disappointed. Many people were disappointed because Powell, you know,
26:31
Speaker 5: he didn't hold back in certain ways, though others actually
26:35
Speaker 5: said this whole thing, this whole not a charade, but
26:38
Speaker 5: whatever you want to call it, might actually be the
26:40
Speaker 5: twilight of the Central banking elite. I got to tell you,
26:44
Speaker 5: I came away thinking that Jay Powell, he's kind of
26:46
Speaker 5: dealing with realities. Right. Things aren't written into textbooks that
26:50
Speaker 5: necessarily pertain today. You have two hundred year old economic
26:53
Speaker 5: theories that don't necessarily apply completely today. This political rhetoric,
26:56
Speaker 5: this aging, there's.
26:57
Speaker 2: So many things.
26:58
Speaker 5: So maybe just maybe he cracked the current code.
27:03
Speaker 2: Now.
27:03
Speaker 1: Look, what Jerome Powell is now having to do is
27:06
Speaker 1: probably what he knows he should have been doing long
27:09
Speaker 1: before September. He's not in the political battle against the
27:13
Speaker 1: president as he was early on. Why because I think
27:16
Speaker 1: he understands he looks like an idiot. The President also,
27:20
Speaker 1: I think, willing to take this win, this w and
27:24
Speaker 1: take it and just move on from it because it's
27:27
Speaker 1: going to help the economy and the American people so much.
27:31
Speaker 1: When I look at where we are and what the
27:33
Speaker 1: President has been saying, and what the President's been advocating for,
27:37
Speaker 1: He's wanting Americans to be able to do things for themselves.
27:43
Speaker 1: He wants him to be able to build or buy
27:45
Speaker 1: a house. He wants him to be able to pay
27:47
Speaker 1: for things or borrow money at a low rate. He
27:49
Speaker 1: wants them to be able to expand their businesses or
27:52
Speaker 1: their small businesses. I mean, these are just basic things
27:56
Speaker 1: that the President of United States America has been in
27:58
Speaker 1: favor of. And unfortunate Democrats have been obsessed with fighting
28:03
Speaker 1: the president no matter what, every single time they get
28:07
Speaker 1: a chance.
28:08
Speaker 2: If they can.
28:09
Speaker 1: Fight the president, they will fight the president time and
28:13
Speaker 1: time again. And Democrats or Pale, the list goes on
28:17
Speaker 1: and on. Now there's somebody that say that the president
28:19
Speaker 1: should have just gotten rid of Powell.
28:21
Speaker 5: Right.
28:21
Speaker 1: It's independent, however, and there's a lot of questions about that,
28:24
Speaker 1: and the Federal Reserve should not be quote political. I
28:27
Speaker 1: do believe that Powell has been political. Should there be
28:31
Speaker 1: accountability for that?
28:32
Speaker 2: Right? We can debate that on another show another day.
28:36
Speaker 1: What I do know right now is it looks like
28:38
Speaker 1: that the Federal Reserve chairman is finally going to do
28:42
Speaker 1: not what I want. I think you can argue maybe
28:45
Speaker 1: not what you want. He's going to do what the
28:48
Speaker 1: market needs, what the market deserves, what the market should
28:54
Speaker 1: have already done, what he should have already done, I
28:57
Speaker 1: should say, for the market. And the only only reason
29:00
Speaker 1: why he's going to do it now is because I
29:03
Speaker 1: think he realizes he's actually holding back the American economy
29:08
Speaker 1: and he's hurting many Americans. A lot of Americans still
29:12
Speaker 1: live paycheck to paycheck. A lot are trying to get ahead.
29:15
Speaker 1: A lot of them have debt, credit card debt, or
29:18
Speaker 1: home debt, whatever it maybe are. There's people trying to
29:20
Speaker 1: buy their first home. And you look at where we are.
29:23
Speaker 1: It should be easier than it is right now to
29:26
Speaker 1: accomplish those things. Don't forget Share this podcast please with
29:31
Speaker 1: your family and your friends whereever they are, and I
29:35
Speaker 1: will see you back here tomorrow