Hamilton Stood Up!

Summary

Armstrong & Getty On Demand

Episode: Hamilton Stood Up!
Date: May 4, 2026
Hosts: Jack Armstrong & Joe Getty

Episode Overview

In this engaging episode, Armstrong and Getty dive deep into the state of American politics past and present, using fresh historical insights and sharp commentary. The show bounces from high-stakes global events and the enduring chaos of American partisanship, to contemporary economic policy, California politics, wealth, and quirky social phenomena like “rich person face.” Listeners are invited to reflect on how political norm-breaking is nothing new and to question the sustainable future of progressive policies in places like Seattle and California.

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Key Discussion Points & Insights

1. Global Event: Tensions at the Strait of Hormuz

• Trump's "Project Freedom": Announced American military assertiveness in reopening shipping channels, but lacked operational details.
• IRGC Retaliation: Shortly after, the Iranian Revolutionary Guard Corps declared the Strait closed and reportedly fired on a South Korean vessel.
• US Ally Expectations: The hosts discuss strategic risks and international reactions, highlighting the dancing around direct provocations.
• Quote:

  “If I'm the IRGC, I might not fire on an American flag vessel...but I might see how America reacts to us hitting one of their allies.” — Joe Getty (05:21)

2. Lessons from the American Founding and Early Partisanship

• Jack’s Reading Journey: Inspired by the Fourth of July and the country's upcoming 250th birthday, Jack shares insights from Lindsay Chervinsky’s Making the Presidency and David McCullough’s John Adams biography.
  • Adams is praised for upholding norms and standing up to his own party — a move that cost him a second term.
• Early Political Partisanship: The myth that today’s politics are the most partisan is debunked. Jack and Joe note that vicious infighting and norm-shattering go back to Washington’s second term.
• Washington & Madison’s Rift:

  “By the time he gets to the second farewell address...he and Madison aren’t on speaking terms. That’s how quickly it fell apart.” — Jack Armstrong (09:01)

• Modern Parallels: The hosts connect founding-era disputes to our current polarized climate, noting that even national heroes quickly succumbed to partisan dynamics.
• Quote:

  “Maybe it’s only cataclysms pull us together briefly, and then we look back on that era — why can’t we go back to there? We only had that because of a cataclysm.” — Jack Armstrong (13:17)

3. The Invention of Political Norms

• Establishing Precedent: The idea that political norms require repetition is explored—Adams provided the crucial “second time” needed for real precedent.
• Ike’s Reluctant Second Term: Like Washington, Eisenhower considered stepping down despite high approval, but stayed on due to national need—a dynamic the hosts frame as rare and cataclysm-driven.

4. Progressive Politics in California & Seattle

• Gavin Newsom on Bill Maher: The hosts review Newsom’s recent appearance, focusing on his defense of the California Bullet Train and claims about state dominance, homelessness, and growth.
• Fact-Checking Newsom’s Bullet Train:

  “[The] Commission said $231 billion. He said, ‘oh, that’s not true at all.’ He’s just a liar. His own high speed rail Commission said 231 billion.” — Joe Getty (29:27)

• “Bubble Politics”: The increasing irrelevance of fact-checking in an era where voters only hear their own side is lamented.
• Quote:

  “Your own people never hear the pushback, so you don’t have to worry about it.” — Jack Armstrong (30:20)

• Seattle’s Progressive Politics:
  • The rise of socialist mayor Katie Wilson (famously funded by her parents at age 43), her anti-business rhetoric, and Starbucks’ and other wealthy residents’ exodus in response to punitive taxes.
  • The notion that wealth simply “exists” to be redistributed is critiqued using a Thomas Sowell quote.
  Memorable Riff:

  “What do the poor most need? They need to stop being poor. And how can that be done on a mass scale except by an economy that creates vastly more wealth?...the political left...has long had a remarkable lack of interest in how wealth is created...As far as they're concerned, wealth exists somehow, and the only interesting question is how to redistribute it.” — Joe Getty (35:21)

5. Cultural Commentary: Rich Person Face & Social Symbols

• Plastic Surgery as Wealth Display: Once travel and luxury goods became accessible to the upper middle class, extreme cosmetic surgery emerges as the “new” marker of elite status.
• Notable Quotes:

  “The new symbol of ‘I’m so rich, I can do anything’ is you get your face carved up.” — Joe Getty (22:12)
  “Subtle doesn’t work. It has to be obvious...My face is all carved up and you know it, and that shows that I have money.” — Jack Armstrong (24:16)

6. Wealth Flight and Economic Reality Checks

• Millionaires Leaving High-Tax States: Starbucks’ Howard Schultz and other business leaders depart Seattle for lower-tax jurisdictions. The hosts discuss how high tax and anti-business policies rapidly backfire in free countries.
• Thomas Sowell & Economic Literacy:

  “I think that Katie Wilson has no idea how wealth is created. She believes things to be true, particularly on the topic of economics, that simply are not true.” — Joe Getty (34:22)

• Recurring Theme: Socialist policies fail quickly when people and businesses can freely leave.
• Quote:

  “How much economic damage gets done before voters start electing politicians who reverse course?” — Joe Getty (37:34)

7. Senators Banned from Prediction Markets

• New Rule: US Senators are now prohibited from participating in prediction markets where bets can be placed on political and world events.
• Who Wins? The hosts note that almost all profits go to a tiny sliver of sophisticated traders, while most casual users lose.
• Quote:

  “Typical user is down between a dollar and a hundred dollars...You’re just having some fun with some major world events.” — Joe Getty (32:32)

• Ethics & Regulation: Jack and Joe agree lawmakers shouldn’t be betting on events they directly influence, but express uncertainty about broader regulation of such markets.

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Memorable Quotes & Moments

• On Modern and Historic Partisanship:

  “The period of peace and prosperity we just came out of, that's not the norm. Strife and struggle and war and being a little uneasy, that's the norm. You'll be okay. Similar lesson, I think.” — Joe Getty (11:44)

• On “Rich Person Face”:

  “Natural is the last thing they want.” — Jack Armstrong (24:26)

• On Socialist Naiveté:

  “It is the political version of a five year old saying, let's eat candy all day with absolutely no concept of how disastrous that would be.” — Joe Getty (38:32)

• California as a Cautionary Tale:

  “People who actually create wealth say the place of their nightmares is California.” — Joe Getty (40:01)

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Timestamps for Important Segments

• 03:43 – US-Iran tensions and “Project Freedom” recap
• 06:06 – Discussion of John Adams and political partisanship birth
• 09:01 – Washington & Madison’s personal/political rift
• 13:17 – Cataclysms as moments of unity and political norm creation
• 28:13 – Gavin Newsom and the California Bullet Train costs debated
• 32:58 – Seattle’s socialist mayor, Starbucks exodus, and tax policy fallout
• 35:21 – Thomas Sowell’s observations on wealth, economics, and the political left
• 44:31 – Senators banned from Participating in prediction markets, betting ethics discussed

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Summary

This episode is a fast-moving, historically informed, and wryly funny tour through America's recurring cycles of division, the folly of progressive policy “experiments,” and the enduring lessons of the Founders. Armstrong & Getty repeatedly tie today’s headlines—from Iran to California—to timeless dynamics, amplified by direct quotes, vivid anecdotes, and a knack for finding the sharpest lines. Whether you’re a policy wonk, news junkie, or just curious about America’s recurring struggles, this episode delivers depth with a light touch.

Transcript

[Podcast Announcer]

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[Jack Armstrong]

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[Jack Armstrong]

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[Jack Armstrong]

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[Commercial Voice]

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[Jack Armstrong]

broadcasting live from the Abraham Lincoln Radio Studio at

[Joe Getty]

the George Washington Broadcast Center, Jack Armstrong

[Jack Armstrong]

and Joe Getty Armstrong and Getty. And now here's Armstrong and Getty. Coors Light announced the launch of their first first non alcoholic beer, Core 0.0%. And I love their new slogan, Core 0.0.

[Commercial Voice]

Get custody back.

[Jack Armstrong]

Oh boy. Yeah, that's pretty funny. Oh boy and dark Quick update on Project Freedom before we move on. That's what Trump announced yesterday, and that was the whole we're going to get ships going through the straight again. He didn't announce we're opening the straight. He announced ships will go through the straight without a lot of details as to how they would.

[Joe Getty]

And I think everybody is making the same dog that heard something weird face that I am. Wait, wait, what?

[Jack Armstrong]

And we have guided missile destroyers in the area. We have 100 land and sea based aircraft, we have 15,000 service members that are going to be part of Project Freedom without a specific commitment to what we're going to do. Then CENTCOM announced before we came on the air today that two US Flagged merchant vessels that had been trapped there since February, since the war began got through okay. Well, that seemed like a good sign. Well, in just the last 45 minutes, the IRGC has declared the Strait of Hormuz closed. And after that, according to the South Korean news agency yonhap, which I subscribe

[Joe Getty]

to, you should too liberal for me.

[Jack Armstrong]

South Korean government officials are checking into reports that a South Korean vessel, South Korean flag vessel, has been struck in the Strait of Hormuz. So the IRGC said it ain't open, it's closed, and then they're apparently fired on a ship. So we'll keep you updated on how that whole thing's going. And in our three we'll talk to Mike Lyons and try to get a handle on what's happening.

[Joe Getty]

Hmm, interesting. If I'm the irgc, I may not, I might not fire on an American flag vessel because that'll, that'll bring hell raining down. But I might see how America reacts to us hitting one of their allies, a pretty good ally. Wonder how the allies are going to hang together. No, Now I would be wondering, right?

[Jack Armstrong]

Yeah, this could be a spicy day.

[Joe Getty]

Yeah, they are, because these people are evil. But they are smart. They read the headlines about Keir Starmer and the Germans criticizing Trump and saying he has no plan and merits saying America's been humiliated at the bargaining table and the rest of it, which is a bizarre take. But yeah, the IRGC is testing that.

[Jack Armstrong]

So every year around 4th of July, I decide to read a Founding Fathers sort of book, one of the classics or new one or whatever. This year I'm starting early. I'm going to read nothing but founding stuff leading up to 4th of July and our 250th birthday and all that sort of stuff. And a lot of my favorite podcasts had been mentioning this new book about John Adams called Making the Presidency by Lindsay Chervinsky. And enough of my favorites mentioned it. I thought, okay, I'll give it a look and some couple chapters into it and man, there's all kinds of new stuff in there that if I'd heard it before, I didn't remember it. And if you're a history buff, you read the John Adams David McCullough book 25 years ago when that came out, which moved John Adams from a, you know, kind of an also ran in the Founding Fathers derby. My whole life growing up, it was always Washington, Jefferson, maybe you get some Alexander Hamilton. Adams was always just, he was a one term president kind of. He is, he is right up there. And in terms of couldn't have had the country without him.

[Joe Getty]

Oh yeah.

[Jack Armstrong]

And glad he got rescued from history by David McCullough. And then this book will continue it. And a lot of what I'm learning from this book is the reason he was a one term president wasn't because he was a failed president, was because he stood up to the, to the extreme of his own party. Like no, no, no, no, no. Just because we're in office, we're not going to go that far. And that's what got him booted out. As we often know in modern politics, standing up to your own party in certain times will doom you.

[Joe Getty]

Wow. So he got primaried, huh?

[Jack Armstrong]

He basically, yeah, basically got Primaried by, By. By, you know, by history. And, you know, whether you're Paul Ryan, was that. Who is the speaker of House there beginning in Trump's term or whatever. And, you know, you know, if you're, if you're one of those people that are actually have the country's best interests at heart, sometimes it doesn't work out for you, depending on the times we live in. But here's the stuff that I thought was interesting, and this is the overall topic of Whenever we talk about things are more partisan than they've ever been and we're falling apart and all that sort of stuff, and then some smart person like our friend Tim Sandifer or whoever steps in, says, no, we've been partisan many, many times before Civil War, very partisan.

[Gavin Newsom]

And.

[Jack Armstrong]

But other times in our history, and, and I knew that about the, the founding, that, you know, we got into parties very quickly. I didn't realize it was this quickly. So George Washington writes his farewell address in year three of his first term because he's leaving. I am done. I am. This is it. Good luck to the country. I hope you all do well. But he is done. And. And everybody's like, what? You can't leave yet. You got to stay. No, I am done, dudes.

[Joe Getty]

I miss my farm.

[Jack Armstrong]

I'm tired of this, right? And, you know, running a war and then being in government, which he didn't want to do at all. He didn't want to be in charge of the Continental Congress, all that sort of stuff, and he wanted out. And so he writes his farewell address with the help of Madison, basically writes it for him. And that first cabinet that he had that you learn about in school, that is just full of all the people that are on our money and, you know, that are on mountains and stuff like that. They all. So. So he's convinced by a number of people in his cabinet and others to stay, that, look, we can't. You gotta stay for one more term. We ain't gonna make it. We just. We gotta figure some things out first. He reluctantly decides to stay again. Madison. Madison basically writes his first farewell address. By the time he gets to the second farewell address, when he actually leaves and they're still begging him to stay, he and Madison aren't on speaking terms. That's how quickly it fell apart. He and freaking father of the Constitution, James Madison would speak to each other in that second term. That's how bad things got so fast.

[Joe Getty]

What was the. The problem? Did a chick come between them?

[Jack Armstrong]

Chick. That's right. Dolly Madison. Not the snack treat. But the hottie, no, she was a snack. You know, just the factions that happen in all government, how much power the presidency should have and versus the. All the things that we still argue about to this day. But man, I didn't realize it turned so quickly in the first term. And all the heroes of the first term, your Alexander Hamilton's and your Thomas Jefferson as Secretary of State, they, they left after the first term and you had a bunch of people that aren't remembered by history in the second term and things got ugly so fast. And I don't know what the lesson is that you take from this. So then when he gives his farewell address, he, he decides to use the first farewell address that Madison wrote just because he knew he was going to be attacked so harshly by Madison and Jefferson and others in his farewell address, he used the one that Madison wrote. So they come out and say, hey, you know, you know where those words came from? Freaking James Madison. All right? So back off.

[Joe Getty]

Wow.

[Jack Armstrong]

That's where I mean it sounds very now. Ish.

[Joe Getty]

Yeah.

[Jack Armstrong]

That he had to do that. The freaking father of our country, George Washington, you know, the indispensable man, the one guy everybody could agree on, had to play those kind of games seven years in to avoid being attacked brutally in the press by the people. But that no longer agreed with him. So what is the lesson from that? That, that's, that's just the nature of democracy. Maybe it's, maybe it's why democracies don't work. I don't know that you end up in those situations.

[Joe Getty]

I think it's similar to what we're always trying to put across to the modern audience. That the period of peace and prosperity we just came out of, that's not the norm.

[Jack Armstrong]

Right.

[Joe Getty]

Strife and struggle and war and, and being a little uneasy, that's the norm. You'll be okay. Similar, Similar lesson, I think. What's the name of the book you're talking about again? George Washington. What a guy.

[Jack Armstrong]

Moby Dick. It's a, I don't. It's a John Adams book. Making the, Making the presidency. And it's a basic. Basically how they're the, the, the thesis is to have a norm, which we are now in the business of both parties destroying all norms. But to have a norm, it can't happen once, it needs to happen twice. And John Adams was the twice. You had this administration do it. Then when John, John Adams does it again. Now you've got a norm. And whether or not that holds or not is basically the premise of the book. But so maybe it's only cataclysms. Pull us together briefly and then we look back on that era. Why can't we go back to there? We only had that because of a cataclysm. Because funnily, in the same week, this book I'm reading, Ike's Bluff, which I've read before, included Eisenhower writing his farewell address in the middle of his first term because there's no freaking way he was going to run again. He had a 75% approval rating and didn't want to stick around for another term because everybody convinced him. Look, we, you gotta, we just, you have to. Because of this and that's going on. And why did he have a 75% approval rating? Because similar to Washington came out of a cataclysm. He wasn't really associated with either party. But those are outliers. Those are, those aren't really things you can get back to.

[Joe Getty]

Right.

[Jack Armstrong]

That were the standard that we should, you know, consider the norm. Those were outliers because of cataclysms. Yeah.

[Joe Getty]

Circumstances. Yeah. I would like to make a case for my favorite founding generation book these days. After a word from our friends at Trust and Will. Just like Washington, Jefferson and Adams, we will all pass into history. And when we do, it's really important those we care about know what our wishes are so you don't condemn them to a long, bitter, expensive legal fight. Why would you do that to people you love. Trust and Will offers affordable attorney designed estate plans online that you can create in as little as 30 minutes.

[Jack Armstrong]

Yeah, speaking of the founding generation, who gets your wooden teeth? You don't want your kids fighting over that, having that come between them.

[Joe Getty]

That's a myth.

[Jack Armstrong]

But anyway, in as little as 30 minutes, you can create a will that lets you document your wishes for guardians. We're talking who gets what, house, money, everything like that. Health care planning, you know, what are your end game plans and you don't want. I've seen this before. Where, God, I've got friends who did this one. One kid said, I think dad would want us to pull the plug. And the other kid, absolutely not. And I mean, that becomes a bitter fight.

[Joe Getty]

Yeah, this is high class adulting, folks. But you know, you have to do this. So go to Trust and Will affordable estate plans, priceless peace of mind. Go to trustandwill.comarmstrong to get 20% off. That's trustandwill.com armstrong once again, 20% off. Trustandwill.com armstrong I've touted this book before, I will tout it again. Now, our friend Tim Sandifer's new book, Proclaiming Liberty. What is the subtitle of that? I like a good subtitle. John Adams, Thomas Jefferson and the Declaration of Independence. Again, how Adams was indispensable working with Jefferson to craft the Declaration. And the thing I love so much about the book is, and I was reading it the other night, I got so fired up, if I'd had a musket, I'd have picked it up and gone to look for an Englishman. Wow. The idiotic idea, oh, my God, we're almost out of time. That, that some, like modern progressive historians are like, they just broke away from England to ensure their own wealth and to consolidate control or continue slavery is so freaking idiotic. It's unbelievable the way the Parliament, especially everybody, talks about King George, but the way the Parliament was constantly abusing us. And I know I was a couple of hundred years from appearing, but I mean, just jerking us around, utterly disregarding any. Not only like, you know, taxation without representation and the base and the natural rights of man, but like even being nice, just constantly changing this and extracting that and saying, shut up, you don't have a legislature anymore.

[Jack Armstrong]

We're.

[Joe Getty]

We're unconvening your legislature. And us saying, that's not a thing. And them saying, we'll shoot you in the face if you make a, if you make any noise about it. Utterly, horribly abusive relationship. And then Tim gets into the particulars of the Declaration of Independence, which, if you don't have perspective, you're like, he sent forth swarms of officers to eat our substance. What is he talking about? Oh, it's so good and so interesting. It explains why there was a revolution. And you'd have grabbed your musket too. Those bastards.

[Jack Armstrong]

So I'd be interested in hearing from you. If Washington and Madison were not on speaking terms before his second term ended, why would we expect any difference from Trump and Chuck Schumer? You know, and this where it's like they can't even go out to eat together. Washington and Madison couldn't go out to eat together.

[Joe Getty]

Correct me if I'm wrong, I think the two of them were both sincere, though, about their difference.

[Jack Armstrong]

Ah, that's a, that's a decent point.

[Commercial Voice]

Right?

[Joe Getty]

They weren't gaslighting, click baiting. Fundraising on lining liars.

[Jack Armstrong]

Interesting text line. 415295 KFTC.

[Joe Getty]

Armstrong and Getty.

[Commercial Narrator]

Most Mother's Day gifts end up in a drawer, but a song lives in the heart forever. This year, tryjoybox.com is giving away 1 million free custom songs to celebrate 1 million incredible moms. Just share a few memories and joy. Box produces an original track and greeting card just for her instantly. It's the most personal gift you'll ever give and right now it's completely free. Make mom the star of her own [e-mail] 1,000,000 songs $0 [e-mail] this is

[Jana Kramer]

Jana Kramer from Wind down with Jana Kramer. Every Mother's Day I tell myself I'm going to be more thoughtful than flowers because flowers are beautiful, but they don't last in my house. Everyone always ends up in the kitchen. Friends, family, the kids and I love having things around that spark conversation and feel special. That's why I love the Lenox Spice Village and your mom will too. It's a set of 24 hand painted little houses that are actually spice jars and I swear people notice it the second they walk in. It's charming, it's nostalgic, and it somehow makes even everyday cooking feel a little more fun. And here's the best part. It actually gets used every day. Whether you're starting the full set or helping her complete one she's loved for years, there's a whole world of Spice Village to explore this Mother's Day. Give her something she'll treasure all long after the card is put away. Trust me, once you see it, you'll want one too. Find the full [e-mail] SpiceVillage thank you

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[Commercial Voice]

Support for the show comes from Public, the investing platform for those who take it seriously. On public, you can build a multi asset portfolio of stocks, bonds, options, crypto and now generated assets which allow you to turn any idea into an investable index. With AI, it all starts with your prompt. From renewable energy companies with high free cash flow to semiconductor suppliers growing revenue over 20% year over year, you can literally type any prompt and put the AI to work. It screens thousands of stocks, builds a one of a kind index and lets you back test it against the S&P 500. Then you can invest in a few clicks. Generated assets are like ETFs with infinite possibilities, completely customizable and based on your thesis, not someone else's. Go to public.com podcast and earn an uncapped 1% bonus when you transfer your portfolio. That's public.com podcast paid for by Public Investing Brokerage Services by Open to the Public Investing Inc. Member FINRA and SIPC Advisory Services by Public Advisors llc SEC Registered Advisor Generated Assets is an interactive analysis tool. Output is for informational purposes only and is not an investment recommendation or advice. Complete disclosures available at public.comdisclosures Gastroenterologists are

[Jack Armstrong]

now saying that people can avoid getting hemorrhoids if they just stop sitting on

[Commercial Narrator]

the toilet for a long time while

[Jack Armstrong]

scrolling on their phones. No, I agree. I agree. I don't care what you say.

[Joe Getty]

So good news. Good news. I was shopping for like 450500 million dollar yacht and and at one point I thought, you know, I could just buy a 300 million dollar lot and Judy said, Joe, you'll be deal regret it. Buy quality. Good news. Jeff Bezos is selling his half billion dollar mega yacht Koru.

[Jack Armstrong]

How long did he have it? A year?

[Joe Getty]

No, he bought it. I can't remember when they said a few years ago the support ship that goes along with it. What's the support ship? The support ship is $75 million.

[Jack Armstrong]

Wow.

[Joe Getty]

Yeah, no kidding. It costs $30 million per year to operate the two ships together, which is something else.

[Jack Armstrong]

Why is he selling it?

[Joe Getty]

I don't know.

[Jack Armstrong]

His wife got tired of it. I think she makes all the decisions.

[Joe Getty]

The vote was so big it was denied a mooring in Monaco. It was just too big.

[Jack Armstrong]

Oh, going on the yacht again. I'm so tired of it. It's so 2022.

[Joe Getty]

Anyway, so this article includes a shot of Bezos with his new wife, Lauren Sanchez, with her fake bubs, which is fine, but why'd you mention them then?

[Jack Armstrong]

Because it's the premise of what I'm talking about. Wait a minute.

[Joe Getty]

And her obviously carved up face and her lips so large a toddler could sleep on them. She looks utterly, utterly unnatural. I come to this story. It's a guest essay in the New York Times. Rich people didn't look like this before. Amy o', Dell, who's written a bunch of books, but she says it's so hard now to differentiate yourself from the poor people as a Rich person because you can get a Hermes bag or however you pronounce that or whatever super designer bag or a knockoff or a factory second or whatever you got all sorts of people are traveling to exotic locations. The new symbol of I'm so rich, I don't I can do anything is you get your face carved up.

[Jack Armstrong]

You have.

[Joe Getty]

You have rich person face.

[Commercial Voice]

Wow.

[Jack Armstrong]

As a guy who's been to Rodeo Drive quite a few times in the last five years, that rings true. The super rich people whose ridiculous car pulls up and they get out, they all are carved up. But there's just too many people with fancy cars and fancy handbags and travel in the world. Like you said. So.

[Joe Getty]

Right. How am I supposed to know that I'm the super rich?

[Jack Armstrong]

How do I make it obvious when I walk into a room that I'm part of the super rich? I look ridiculous.

[Joe Getty]

There are procedures that cost $150,300,000. Plastic surgeons in Washington, for instance, are navigating a surge in requests for Mar a Lago face.

[Jack Armstrong]

This actually makes sense to me. Let many of these stories don't make sense to me and I think are made up. This one is true.

[Joe Getty]

Yeah. Boy, they go into detail.

[Jack Armstrong]

It's the you can't get a fake handbag that looks just like mine. This my face is all carved up and you know it. And I that which shows that I

[Joe Getty]

have money and one ship has sailed. Magazines such as Vogue and Allure are no longer advising readers just on fashion stuff. But when, not if, when they should get facelifts and explain plasties, blepharoplasties.

[Jack Armstrong]

And it explains why they go too far. Because it has to be obvious. Subtle doesn't work. It has to be. Obviously, I get my lips done, my eyes done, all that sort of stuff.

[Joe Getty]

Natural is the last thing they want.

[Jack Armstrong]

Yeah. Wow.

[Joe Getty]

How odd.

[Commercial Support Line]

Hunger Games, Armstrong and Getty.

[Commercial Narrator]

Most Mother's Day gifts end up in a drawer. But a song lives in the heart forever. This year, try joybox.com is giving away 1 million free custom songs to celebrate 1 million incredible moms. Just share a few memories and joy. Box produces an original track in greeting card just for her. Instantly, it's the most personal gift you'll ever give. And right now it's completely free. Make mom the star of her own [e-mail] 1 million songs $0 only.

[Jana Kramer]

@tryjoybox.com this is Jana Kramer from Wind down with Jana Kramer. Instead of giving your mom something that fades, give her something that becomes part of her home this Mother's Day. The Lenox Spice Village is a set of 24 hand painted little houses that are actually spice jars. Perfect for anyone who loves to cook, entertain or enjoy the little details that make everyday life special. As a mom, I love gifts that help turn ordinary moments into memories. Charming, timeless and meant to be used. This is one of those pieces she'll treasure and once you see it, you'll want it for your own home too. Find the full [e-mail] SpiceVillage you're a

[Commercial Voice]

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[Gavin Newsom]

You talk about California. We're the envy of the world. California is dominant. We also have seen the last three years population growth. We've got to update our talking points. We've seen a 9% decline in unsheltered homelessness. Got to update our talking points. Seen a 60% increase in permits for housing. We've got to update talking points. I'm very proud of the state of California.

[Jack Armstrong]

Was that edited Hansen, or is that actually the way he presented it?

[Joe Getty]

That's how he presented it.

[Jack Armstrong]

Interesting.

[Joe Getty]

It's obnoxious.

[Jack Armstrong]

I saw an ad, an anti Gavin ad by one of the gubernatorial candidates over the weekend. I guess where it does that whole California is the fourth biggest economy on earth thing. If it were its own country, which you say is misleading, and I've always wondered about that. We should, we should go deep on that someday. But it also went with, if California was its own country, it'd be about the most expensive country on earth. And here's why that I thought was really interesting. We should get into that later.

[Joe Getty]

You like living in Monaco? So Gabby boy was on with Bill Maher. And I think a lot of us were excited about that. That the great reformed liberal, the great speaker of truth to power, Bill Maher, would rake Gabby over the col. But no, it turns out they're buddies and he just softballed them. And it was incredibly disappointing. This was at least something.

[Jack Armstrong]

Gavin, you gotta get rid of the train.

[Gavin Newsom]

The train.

[Joe Getty]

I say this as a friend.

[Jack Armstrong]

You gotta let that train go.

[Joe Getty]

Let the train go.

[Jack Armstrong]

It's up to $231 billion.

[Gavin Newsom]

That's not. That's just nonsense. It's not. We're doing $119 million segment. We got it back on track. It goes back three administrations and inherited a mess. We put it back on track. All the environmental work is behind us. We're actually laying the track. All the legal litigation, all the land issues are all behind us. We're actually making this project work. And so that's a fact now on the issue of California.

[Jack Armstrong]

So for whatever reason, of course it has.

[Gavin Newsom]

And you can't make up for the past. I can only make up for my segment, literally and figuratively as governor over the last seven years.

[Jack Armstrong]

For whatever reason, Bill Maher decided to not say. This week, the California Bullet Train association on their own website said they had updated the total to whatever it is. 230.

[Joe Getty]

231 billion. Yeah. And experts who are like, if you're serious about building this thing even close to his promise, say it's gonna be like 400 to 500 billion. So Gavin was just flat out lying. His own high speed rail Commission said 231 billion. He said, oh, that's not true at all. He's just a liar.

[Jack Armstrong]

What does that mean?

[Joe Getty]

And then Trump, I wish I pushed

[Jack Armstrong]

him on it because I'd like to have heard what Gavin would say about that.

[Joe Getty]

Trump blasted out this long truth about how low rated Bill Maher is. Irrelevant. He's a weak and ineffective person. He was scared when he came to the White House and just terrible. Barely more talented than Kimmel. And Gavin's a liar, which is true. And look at la, San Francisco, the horrendous homeless problem over the railway catastrophe, blah, blah, blah. Anyway, so speaking of progressive, I'm not

[Jack Armstrong]

sure being a liar works at all anymore as a thinking that'll bring somebody down. As I keep saying, I think Trump figured out and now Gavin figured out. Oh, okay, I get it now. Nobody. Your own people never hear the pushback, so you don't have to worry about it.

[Joe Getty]

Yeah, he just said something wildly untrue and got applause for it. So, yeah, I think you're right. It's bubble politics and he's a fairly, you know, expert practitioner of it. So, speaking of the progressive Seattle and its utterly fuzzy headed progressive dream world, rainy pine tree soaked waterfront brand of progressivism elected this woman child, Katie Wilson in November. An avowed socialist who's been on an allowance of $10,000 a year from her parents because life is kind of expected. She's expensive. She's 43. 43. A socialist who mommy and daddy finance, which is honestly the history of most socialist thinkers, quote, unquote.

[Jack Armstrong]

Oh, I went to the May Day celebration in my town Friday. I was driving by the park and saw all the communist flags and stuff like that. All right, it's Mayday and I live in Davis, California, so of course there's, there's a gathering in the park. I'll have to talk about that later.

[Joe Getty]

Yeah, please.

[Jack Armstrong]

Wow.

[Joe Getty]

So nine days after winning Seattle's November mayoral election, Katie Wilson joined the Starbucks baristas who were picketing and pledging to boycott the coffee conglomerate until the union gets its way. And, and then in March, not long ago, the chain said, yeah, we're closing five additional stores in Seattle, including four that had unionized. Poor financial performance, bad customer experience, and by the way, last week they announced, we're establishing our new corporate headquarters in Nashville and we're gonna invest $100 million and bring 2,000 jobs to Nashville and out of here. Goodbye. And the 43 year old Ms. Wilson who gets the allowance from her mommy and daddy, is defiant about the consequences of her antagonism towards successful people who create value for society. That is a quote from the Washington Post editorial board. The Washington Post. Speaking recently at a Seattle University event, the mayor Brushed off claims that taxpayers are going to respond poorly to higher taxes.

[Jack Armstrong]

I think the claims that millionaires are going to leave our state are like super overblown. And if you know the ones that leave like bye.

[Commercial Narrator]

So.

[Joe Getty]

I will quote her and somebody, if you are skilled in calligraphy, please, please scratch this down in that fancy, fancy font. I think the claims that millionaires are going to leave our state are like super overblown. And if the ones that leave like bye.

[Jack Armstrong]

And then cheers that sentence again.

[Joe Getty]

And if the ones that leave like bye. Oh boy. And then the Washington Post editorial. So does she, does she not realize

[Jack Armstrong]

that millionaires and billionaires pay the vast majority of all the taxes?

[Joe Getty]

She, well, that crowd, do they not

[Jack Armstrong]

know the math on that or are they just being populists? And it plays well because most people don't know the math on that, that it's millionaires and billionaires that are paying practically all the taxes. And without them you're doomed. And if you could, as has been pointed out many people, by many people, you could, you could confiscate all the billionaires wealth, just confiscate it all. And we still wouldn't make a dent in our overall federal problem with, with our entitlements. Right.

[Joe Getty]

I'm reminded of the quote from Thomas Sowell, we hit the folks with just to open the show or toward the beginning of the show and I'll hit you with it in a second. But the answer to your question, I think is that Katie Wilson has no idea how wealth is created. She believes many things to be true, particularly on the topic of economics that simply are not true. She has been, you know, there's always been the contrast between book smart and street smart. The problem in the modern day is that book smart is fictional. Book smart is utterly like in contrast to what happens in the real world on the street. So these people, these socialists come out with these ideas that are just harebrained, they don't make sense, they don't work. They've been tested over and over again and failed over and over again. As Thomas Sowell said, what do the poor most need? They need to stop being poor. And how can that be done on a mass scale except by an economy that creates vastly more wealth? Yet the political left, Katie Wilson, has long had a remarkable lack of interest in how wealth is created. As far as they're concerned, wealth exists somehow. And the only interesting question is how to redistribute it. I think that's the long and short of it. She thinks like you're Jerry's Brown. And you're, you know, all sorts of progressives all over the place. That wealth just exists and the only question is how to divide up the pie. They never think about creating it because they can't. Back to the Washington Post. Her arrogance is increasingly typical of the state's political elites. In March, the governor signed, Bob Ferguson signed in a law millionaires tax that would add an additional 10% or so rate on incomes over a million dollars.

[Jack Armstrong]

10% at once. Oh, my God.

[Joe Getty]

With the tax on the horizon, that's

[Jack Armstrong]

when the CEO of Starbucks or the guy who started Starbucks announced he was leaving and claimed it wasn't related to that.

[Joe Getty]

Former Starbucks CEO Howard Schultz announced that he and his wife are leaving Seattle for Miami. Florida has no state income tax. Schultz is right there.

[Jack Armstrong]

He said.

[Joe Getty]

Speaking to a local TV station last year, Microsoft President Brad Smith acknowledged that, quote, I'm probably more worried right now about the business climate in Washington than at any point over the last 30 years. If other people are paying for jobs to leave and we're taxing them to stay, that will make everything harder. Hey, Brad, just say what you mean. I know you don't want to offend the stupid little socialists, but say it's going to drive business out of Washington. Yeah, I don't say that will make everything harder.

[Jack Armstrong]

That's the most annoying part of this whole thing is when Walgreens closed its doors in San Francisco, it didn't say it's because of the policies. There's too many junkies on the street and we get robbed all the time. They had to pretend it's. Well, there's cutbacks in a difficult economy, underperforming stores. Same as Schultz leaving Seattle. I remember when he made that announcement and he wouldn't say out loud. He pretended it wasn't because of the. No, it's a coincidence. This, this millionaires tax that you just passed that. I'm moving to Florida. Say it out loud. Say this is an anti business. Doesn't make sense. Look, I'm a liberal Democrat, but this doesn't make any sense.

[Joe Getty]

I wish he'd have said it out loud. Right. You're driving jobs out. Finally, this socialism has failed everywhere. But its flaws are exposed much faster in free countries like the United States, where individuals and businesses can simply leave for more welcoming jurisdictions. The question, and this is a question we've asked many times, is how much economic damage gets done before voters start electing politicians who reverse course.

[Jack Armstrong]

Man, my kids were. We walked through the May Day celebration and they Just kept asking me, how do these people believe this? Because they've heard my screed forever that communism has killed more people than anything else on earth. More than World War II. Many more people killed by communism. Socialism as a, as a way to run your government. All those people in the park. Would you like to help elect a socialist representative? People were yelling to me from tables, no thank you, you nut jobs.

[Joe Getty]

It is the political version of a five year old saying, let's eat candy all day with absolutely no concept of how disastrous that would be. The college kids who have been blessed

[Gavin Newsom]

the most, who have disproportionately extracted by whatever skill more and more from the national wealth, they're gonna have to share more of that.

[Joe Getty]

That is one of the worst statements

[Jack Armstrong]

ever made my the four term governor of California. I understand the young people that were at the May Day celebration, but there's a lot of older people there, including old people walking around with their signs. Like how you've been around for a long time. Where has this worked for you, this whole communism thing?

[Joe Getty]

You nut jobs. Human beings ability to ignore reality is unbelievable. Hey, a quick word from our friends at Simplisafe because those scumbags the progressives keep letting out of prison are coming to steal your stuff. Simplisafe is not just a camera that'll send you a text like some of these systems. It's a comprehensive ecosystem of sensors, cameras for inside and out and 247 professional monitoring. In the event of a break and fire flood, Simplisafe's agents are ready to take action for you and make it

[Jack Armstrong]

happen because I don't want you to loot it back from me. I do have the Simplisafe setup with all the cameras and the sensors and all that sort of stuff and I love it. And it's not very expensive and there's no contract. That's how much Simplisafe believes you're gonna like it. They don't need to lock you into a contract. They earn your business every day.

[Joe Getty]

Yeah, it's fantastic. All sorts of accolades and awards named America's best customer service and it's a fraction of the cost of traditional brands. So if you're thinking, wow, this seems amazing, but I can't afford it. No, no, no. It's much more affordable. Good people can get 50% off your new SimpliSafe system at simplisafe.com [e-mail] armstrong there's no safe like SimpliSafe. Now Colorado gets a brief kicking from the Wall Street Journal Entrepreneurs flock to Colorado now red tape is driving some away. Vocal group of California software engineers and venture capitalists are increasingly, increasingly grumbling that their tech haven in the Rocky Mountains is devolving into the place of their nightmares, California. You hear that, Gavin? People who actually create wealth say the place of their nightmares is California. They talked about how during the 2010s, the Rocky Mountains from Boulder to Colorado Springs was dubbed Silicon Mountain. And now you've got a collection of more than 300 prominent business leaders who are saying out loud all year, utopian regulations are hindering growth, and dozens of companies are skipping towns for more welcoming climbs than Colorado. Same policies, same results.

[Commercial Voice]

Duh.

[Jack Armstrong]

I just saw the video of that Kentucky Derby winner trainer, the first female trainer ever losing her s when the

[Joe Getty]

horse crossed the finish line.

[Jack Armstrong]

I hadn't seen that. And she goes berserko last place to first place. We'll have to play the audio of that later. That's exciting, I guess. Feel like beating horses with a stick to make them run fast? What?

[Joe Getty]

They like being whacked with a stick?

[Jack Armstrong]

Barbaric. More on the way.

[Joe Getty]

Stay here. Armstrong and Getty.

[Commercial Narrator]

Most Mother's Day gifts end up in a drawer, but a song lives in the heart forever. This year, tryjoybox.com is giving away 1 million free custom songs to celebrate 1 million, including incredible moms. Just share a few memories and joy. Box produces an original track in greeting card just for her. Instantly, it's the most personal gift you'll ever give, and right now it's completely free. Make mom the star of her own [e-mail] 1,000,000 songs $0 [e-mail] this is

[Jana Kramer]

Jana Kramer from Wine down with Jana Kramer. Instead of giving your mom something that fades, give her something that becomes part of her home this Mother's Day. The Lenox Spice Village is a set of 20 painted little houses that are actually spice jars, perfect for anyone who loves to cook, entertain, or enjoy the little details that make everyday life special. As a mom, I love gifts that help turn ordinary moments into memories. Charming, timeless and meant to be used. This is one of those pieces she'll treasure. And once you see it, you'll want it for your own home too. Find the full [e-mail] Spice Village thank

[Commercial Support Line]

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[Commercial Voice]

Support for the show comes from Public, the investing platform for those who take it seriously. On Public you can build a multi asset portfolio of stocks, bonds, options, crypto and now generated assets which allow you to turn any idea into an investable index with AI. It all starts with your prompt. From renewable energy companies with high free cash flow to semiconductor suppliers growing revenue over 20% year over year, you can literally type any prompt and put the AI to work. It screens thousands of stocks, builds a one of a kind inventory index and lets you back test it against the S P500. Then you can invest in a few clicks. Generated assets are like ETFs with infinite possibilities, completely customizable and based on your thesis, not someone else's. Go to public.com podcast and earn an uncapped 1% bonus when you transfer your portfolio. That's public.com podcast paid for by Public Investing Brokerage Services by Open to the Public Investing Inc. Member FINRA and SIPC Advisory Services by Public Advisors llc, SEC Registered Advisor. Generated as Assets is an interactive analysis tool. Output is for informational purposes only and is not an investment recommendation or advice. Complete Disclosures available at public.comdisclosures I missed

[Jack Armstrong]

this over the weekend. Maybe you did too. US Senators have been banned from trading on prediction markets effective immediately. That happened on Friday. So we're starting on saying you can't be betting on things that would influence the way you're going to make policy. Right? Right, Right.

[Joe Getty]

Members of the armed forces notably shouldn't be doing that either. You know the prediction markets, which really intrigued me because you know, we follow the news so carefully and I thought, you know, like I predicted Joe Biden wouldn't be the candidate in November, I probably could have made a ton of money on it, but I'm too lazy to worry about it. But the Wall Street Journal's pointed out today that casual traders lose, lose, lose, lose, lose. The sophisticated pros, which are trading firms with access to vast streams of data, are eating their lunch. That's who's on these things and making a lot of money. The Journal found that on one of the big markets, 67% of profits go to 0.1% of accounts. I'll say that again. Two thirds of the wins go to a tenth of a percent of the accounts. That means less than 2,000 accounts. Months netted a total of nearly half a billion dollars.

[Jack Armstrong]

Now I've never looked at one of these sites, but you can bet on like anything, right?

[Joe Getty]

Yeah, you buy shares in it, essentially. That's why it's not a quote unquote gambling site.

[Jack Armstrong]

But you know, just, you know, will, will the war with Iran and Wednesday or what, whatever the hell. The people that are making the money, do they have information that's not available to us or they just spend more

[Joe Getty]

time seeking out open information to reread that sentence. Sophisticated prose, including trading firms with access to vast streams of data.

[Jack Armstrong]

But is that vast streams of data that's not available to me? Is that what that reads as? That's what I didn't get.

[Joe Getty]

Well, they do this for a living. I mean it's because one of the interesting things that do this and yeah, I suspect they have access to more than you do.

[Jack Armstrong]

One of the interesting things about that open source intelligence thing that I follow all the time on the war is there's tons of information that's out there. Just most people don't take the time or know where to look or whatever.

[Joe Getty]

Yeah. On one of the other big trading markets, the unprofitable users outnumber the profitable by 3 to 1. That's not nearly as shocking to me as that, that previous percentage. I mean, and I'm not going to make a prediction slash bet on something unless I'm pretty sure I'm right. And it doesn't shock me that, you know, if it's somewhat counterintuitive that yeah, the losers outpace the winners by three to one or outnumber them, I should

[Jack Armstrong]

say betting is a funny thing. There's a Norm MacDonald joke where he says there's this guy who lost his shorts betting he'd bet on a bunch of NBA games and loss, lost, lost, lost everyone. Bet on a bunch of NFL games, lost everyone. But bet on a bunch of baseball games, lost everyone. What am I gonna do? And some guy said, well there's a hockey match tonight. And he said I don't know anything about hockey. That's the joke. Like you didn't know anything about the other stuff either that you thought you knew about. Cause you lost on those also. I mean that's kind of where you come down on a lot of betting, right?

[Joe Getty]

Yeah, if it was easily predictable, then

[Jack Armstrong]

that's interesting.

[Joe Getty]

So it's funny.

[Jack Armstrong]

Well, I don't want to outlaw it. Do you want it outlawed or anything? Not that we could outlaw it, probably,

[Joe Getty]

since it exists offshore. No, I really don't even know what to do about these things. I don't know. Even if you decided that the balance of liberty and order, blah blah, blah, yes, we need to ban it, then. The how, as you point out, is an enormous problem.

[Jack Armstrong]

Not having US Senators involved in it seems like a good idea, though.

[Joe Getty]

Journals analysis Poly market trading data indicates typical user is down between a dollar and a hundred dollars. Oh, that's fine.

[Jack Armstrong]

Yeah, you're just having some fun with some major world events.

[Joe Getty]

Yeah, yeah, be smart. If you're stupid, bad stuff happens. Play stupid games, Win stupid prizes.

[Jack Armstrong]

We're going to talk to Michael Irons about whatever we're doing. Operation Freedom. Have you heard about this? Just started yesterday. We're gonna talk to him to kick off hour three. If you miss a good podcast.

[Commercial Support Line]

Armstrong and Getty

[Commercial Narrator]

Most Mother's Day gifts end up in a drawer, but a song lives in the heart forever. This year, try joybox.com is giving away 1 million free custom songs to celebrate 1 million incredible moms. Just share a few memories and and Joybox produces an original track and greeting card just for her instantly. It's the most personal gift you'll ever give. And right now, it's completely free. Make mom the star of her own [e-mail] 1 million songs $0 only.

[Jack Armstrong]

@tryjoybox.com this is Jacob Goldstein from what's yous Problem? Business software is expensive, and when you buy software from lots of different companies, it's not only expensive, it gets confusing. Slow to use, hard to integrate. Odoo solves that, because all Odoo software is connected on a single affordable platform. Save money without missing out on the features you need. Odoo has no hidden costs and no limit on features or data. Odoo has over 60 apps available for any needs your business might have, all at no additional charge. Everything from websites to sales to inventory to accounting, all linked and talking to each other. Check out Odoo at o d o o dot com. That's O-O-O dot com.

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