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Jack Armstrong
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Jack Armstrong
And now, broadcasting live from the Abraham Lincoln Radio Studio, the George Washington Broadcast Center, Jack Armstrong and Joe Getty. Armstrong and Getty. And now he Armstrong and Getty.
Unknown
Welcome to a replay of the Armstrong and Getty Show. We are on vacation, but boy, do we have some good stuff for you.
Jack Armstrong
Yes, indeed we do. And if you want to catch up on your ang listening during your travels, remember, grab the podcast Armstrong and Getty on demand. You ought to subscribe wherever you like to get podcasts. Now on with the infotainment. Interesting story in the Wall Street Journal, America's new millionaire, class plumbers and H Vac entrepreneurs and. Well, it's what the headline would suggest. There's one twist to it, but I'm reminded of something that I We have been saying for years. The virtually every election comes down to how much the government is going to give you, and most of it's phony.
Unknown
Sure looks like it right now of.
Jack Armstrong
Other people's tax money with both candidates.
Unknown
Claiming all kinds of things they're going to give you or a wave is.
Jack Armstrong
A fee or whatever, just laying out the gifts and the handouts and the new programs and the rest of it when it's funny that 90 well, that's not true anymore. The vast majority of us, we make a living, we have a job and we, you know, the government's involved in our lives but more than we want. And it's just the idea that, well, I'm going to vote for who gives me the most is just ugly to me anyway.
Unknown
Yeah. It's never been part of my life.
Jack Armstrong
And oh, that gets back to, you know, what I've always tried to lay out. And I wish conservative America was better at this. And I'm not claiming some sort of mantle as some sort of eloquent hero, but I've always said I've come up with this program where you can feed, clothe, educate and medicate 10 to 10,000 families and it's not going to cost a dime of taxpayer money. It's called starting a business and growing it to success.
Unknown
Where is that?
Jack Armstrong
In our political discussions? That is the engine of prosperity. The engine the government handout stuff is crumbs around the edges.
Unknown
I hate for this to be true, but I think the reason you don't pitch that as an argument is because there are enough people that are going to decide the election that are that other thing you were talking about.
Jack Armstrong
Yeah.
Unknown
What are you going to give me without me doing anything for it? Really? You start talking about starting a business and all that sort of stuff that's.
Jack Armstrong
A lot of work. And the politics of envy has been so successful in convincing people that the successful have done something untoward to get there. They should be resented for that success. They have stolen from you. If they have more than you, it's because they have stolen from you. Which was not culturally, the attitude in the United States up until very, very recently.
Unknown
Oh, I heard a great thing yesterday on that from Jonah Goldberg of the Dispatch that he regularly says in his speeches, I guess when people talk about why is there poverty? He says, that's not the question. There's always been poverty. Poverty is the national, the natural state of human beings.
Jack Armstrong
Yes.
Unknown
Why is there wealth? Is the question. And then you get into the discussion of how capitalism creates wealth. Poverty is the way it would be for everyone if you didn't have capitalism. We'd all be poor. It's not like we'd all have, you know, nice sized homes and cars and go on vacations and. And a comfortable retirement.
Jack Armstrong
Yeah, yeah.
Unknown
That's not the natural state of things.
Jack Armstrong
Right. And my only quibble with Jonah, who's absolutely right, is that because of the resentment of, quote, unquote, wealth, you could break it down to never mind why there's poverty, why is there housing, why is there food to eat, why is there medical care? How did this happen? And we've just gotten away from that as a culture again, because the politics of envy works.
Unknown
And digression number 10, before you get to your main point, yes. When I said, I've never voted for somebody giving me stuff, I think that's factually true. But if you are to the left, you'd say, yeah, you vote for people who want lower taxes, are going to lower taxes, and they're giving you money as opposed to, I'm keeping my own.
Jack Armstrong
Letting me keep my money is not giving me anything. But, yeah, you're absolutely right. So this article in the Wall Street Journal is interesting. It is absolutely on the side of folks who build, learn a skill, build a business, hire others, teach them to do that business and grow it. One interesting wrinkle is that it's all about how private equity is now recognizing how the H Vac business, the plumbing business, are good, solid electrical contractors, too. They're good, solid, profitable businesses. And so venture capital is moving in and buying up these businesses, private equity businesses. They hope to profit by running larger, more profitable operations, more efficient, et cetera.
Unknown
Well, we endorse a heating and air company. Fantastic one. And I remember when we were talking to him last year and he was telling us what people can make to start and he can't find workers and they'll train them.
Jack Armstrong
Right, right. And there's some concern that. And you do have to watch for this if you've been with a company for a long time. Joe H Vac who learned the trade, smart guy, gal, family entrepreneur, hired people, grew it, et cetera. Then they sell to the private equity company and it becomes a different company. Standards of service change, priorities change, that sort of thing.
Unknown
That happens with everything. Absolutely everything. Oh yeah, not just hvac companies. Practically everything you go and buy in a store that has a name brand. Man, I'm thinking of Home Depot. So many different brands of things at Home Depot built their reputation years ago.
Jack Armstrong
Yes.
Unknown
On being super quality items that are not crap.
Jack Armstrong
Yes.
Unknown
Because they're, you know, they, they're run by what you're just talking about.
Jack Armstrong
The wave of investment is minting a new class of millionaires across the country. One that small business owners say is helping add more shine to working with a tool belt. Some of us don't need more shine for that. But anyway you don't need to go to Silicon Valley to have a successful career in entrepreneurial opportunities. Said this fellow with Detroit based private equity company that is doing a lot of investment in service companies. You know, I. Well, never mind. I was about to go off on a personal tangent but we have a 10 tangent limit and we've exceeded it. Why does everybody say space these days? Quote, everybody and their uncle owns an H Vac business in the private equity space today. Said another guy. That's hip. This private equity company, Redwood Services, where are they based? It doesn't matter. Tucson. Interesting. They've acquired 35 companies in the past four years. From small to large in the services trades. Have long offered a solidly hourly wage for workers without college degrees. Also springboards for those with bigger entrepreneurial ambitions. Goodness knows that is true. Wow. This guy spent five years in prison for selling meth before he co founded his plumbing business and now he, he's an entrepreneur.
Unknown
He was selling meth and now he's got a legitimate business but he was, it was in sales.
Jack Armstrong
Honestly, you know that's funny but true. I absolutely believe in second chances for people.
Unknown
I'm a one strike, you're out guy.
Jack Armstrong
Wow, that's harsh. Anyway, Saudi Arabia is calling. But yeah, there is an element to that. He grew up in a hardscrabble place where that was the entrepreneurial opportunity and something open. Well, he learned the trade. I don't know if it was in prison or what. But he learned the trade and realized, oh, there are better entrepreneurial opportunities than selling death to people. Anyway, that. Ain't that America for you and me. Land of the free.
Unknown
Anyway, I'm amazed by all you small business owners because you work so hard and you got everything on the line every day. Yeah, I don't know how you. I really don't know how you do it.
Jack Armstrong
That is why I so resent, and I'm so strongly against this idiotic, nonsensical idea that we're going to raise business taxes because businesses have to pay their fair share. Like everybody who runs a business is crazy wealthy. I know a lot of small business people and entrepreneurs who draw what they have to to keep a roof over their head. And they pour everything else back into the business.
Unknown
And the hours they work are insane.
Jack Armstrong
Right? Pardon. Pardon my French, folks. But I'll say gun instead of the B word. I heard many years ago. You want to work for your. You're going to hate the son of a gun. You're going to hate your boss because.
Unknown
He won't let you have Saturdays off.
Jack Armstrong
Or holidays or he's going to work you like you've never worked before.
Unknown
You know, stay home when you're sick. He's not going to let you.
Jack Armstrong
Yeah. So here's to you entrepreneurs and small business owners. May a private equity firm buy you out and I'll see on the golf course. I guess you can buy the drinks because you'll be richer than me.
Unknown
Armstrong and Getty.
Jack Armstrong
Jack Armstrong and Joe Getty.
Unknown
The Armstrong and Getty Show.
Jack Armstrong
So the sentencing of all of those activists and politicians and journalists in Hong Kong, it just reminds me how incredibly fragile a free system is unless it will defend itself by arms. I mean, because Hong Kong was a robust democracy, very wealthy, very educated, with every interest in protecting itself. And it couldn't. It was just. It was bullied into submission. And quickly. I'm reminded of one of my favorite memes, partly because it's a little snarky, but it's also funny. George Washington didn't use his freedom of speech to beat the British. He shot them. That's the only way to resist aggression. You can't talk a predator out of predating.
Unknown
I'll have to look into this after the show is trying to confirm that Chinese stuff that I read and figure out if it was real or not. This does not get the attention it deserves. The rising China, according to the report that I read. And again, whether he said it to Biden or Not whether it's just stuff being put out by the Chinese. It was, it was a lot of language like you're not the only nuclear power on Earth. And just, you know, very, very push, push backy. This means war. Oh, and you laid out, actually laid out four red lines for China that the US better not cross, that sort of thing.
Jack Armstrong
Yeah, well we'll see brah. From the perspective of if we were attacked by Martians we would all come together. On Earth we have been so obsessed with our internal divisions. I think that's why most Americans are unaware of the threats from abroad.
Unknown
Yeah, probably so. Big study that came out today and this was in the New York Times. China has now surpassed Europe as the second all time leading polluter on planet Earth. I'm not sure how much I care about the historical polluting that's gone on, but the climate change people care about it a lot because we've polluted more throughout the history of the world than any other country. So we owe more money than anybody else to try to fix the problem is what they claim. That's only going to be true for a few more years according to this graph though. So China has now passed Europe on this pretty much straight up graph because they just started polluting fairly recently because they were all living in huts and eating their cats and stuff like that and not a lot of pollution. But now they got all the coal fires and electricity and everything going on, they're polluting like crazy. How dare you. The country has now passed Europe as the second largest all time emitter. Shifting the debate about who pays for global warming. According to the New York Times, projections show that China may, may catch up with the United States in just a few years. China's soaring emissions are upending climate politics. Was the story. Let me just read a little bit of it. For many years wealthy places like the United States and Europe have had the biggest historical responsibility for global warming. China's astonishing rise is upending that dynamic. Over the past three decades, China has built more than 1,000 coal fired power plants. A thousand. As its economy has grown more than 40 fold in 30 years. Mostly because of our help thinking that if they got rich enough they'd be our friends. One of the dumbest gambles in the history of the planet. Whoops. The country has become by far the largest annual emitter of greenhouse gases in the world. So they're emphasizing the historical. How about emphasize the today? And on the today chart it's not even close like China's way up there and the United States is way down here with other countries underneath us.
Jack Armstrong
Right. So if you're trying to build some sort of framework for who owes the most, you're Paris Climate Accord folks. I suppose looking at the historical responsibility makes a little bit of sense, but for those of us who live in the real world, who's doing it now is a much more relevant question.
Unknown
I would say so. And according to this chart, it looks like China is polluting at about two and a half times what we are on a year by year basis at this point. Two and a half times?
Jack Armstrong
Yeah.
Unknown
And I'm supposed to alter my lifestyle and suffer the overall GDP consequences for what reason? And India's working on it. They'll be on that chart before you know it.
Jack Armstrong
Yeah. The actual biggest country on Earth. You go to them and say, hey, can you cut back on your fossil fuels a little bit because of the planet? The answer is yeah. No. Are you kidding? We've got 400 million people starving here and you want us to go solar? No. Yeah. I've got to hope that a lot of the climate change nonsense is going to be swept away during Trump's presidency. And I'm not talking about any legitimate claims about the atmosphere or the environment or whatever. I'm down with that. It's fine. But again, cut the crap. Cut the crap. Go to armstrongygetty.com, pick yourself up a Cut the Crab T shirt. They're selling like hotcakes.
Unknown
Speaking of trouble spots around the world that we ignore, this happened over the weekend. Haven't heard it anywhere. The Pentagon leaked to Axios that the Houthis are now effectively in control over the Red Sea, which is where, remember, they're telling us the numbers all the time. 15% or whatever of all world shipping goes through Houthi. Rebels are brandishing increasingly sophisticated weapons, including missiles that can do things that are just amazing, said the Pentagon's chief weapons somebody or other to Axios over the weekend. The big picture being that the militant group has for years used drones and missiles to strangle the waters off of Yemen, disrupting international shipping. And, well, I'll read this quote. I'm an engineer and a physicist, and I've. I've been around missiles my whole career, said a Pentagon employee to Axios. What I've seen of what the Houthis have done in the last six months is something. I'm just shocked. So the rest of the world is just let this ragtag group of camel riders take over a big major lane of shipping on planet Earth?
Jack Armstrong
I believe they have Toyota pickups there. But anyway, yeah, they're not building those missiles in Yemen. Who's sending them to them? And how soon can we get the mummy out of office? I mean he is useless pull out bad. And Kev care. Yeah, Michael, that's in his old vital days.
Unknown
Yeah, he isn't that good anymore.
Jack Armstrong
He hasn't. He hasn't unleashed a had about a calf care with that sort of forcefulness in a year.
Unknown
Quick question for you. What if you happen to miss this unbelievable radio program?
Jack Armstrong
The answer is easy, friends. Just download our podcast Armstrong and Getty on Demand. It's the podcast version of the broadcast show available anytime, any day. Every single podcast platform known to man.
Unknown
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The Armstrong and Getty Show.
Jack Armstrong
I love this from Andrew Stiles. The definitive list of winners and losers the 2024 election. And actually, much as I love Andrew, I'm going to quibble with his opening. He says the election's over. Donald Trump and the Republicans, excuse me, won a stunning and decisive victory. I would say Donald Trump won a stunning indecisive victory. The Senate performed very, very well and the House scraped by for the Republicans. Yeah, mentioned unified government.
Unknown
Mentioned this earlier. I hadn't thought about it until I heard a Democrat pointed out how can you call it a wave if you're going to have like a three seat majority in the House of Representatives? That ain't much of a wave. I mean when Obama won he had like an 80 seat majority.
Jack Armstrong
It's an itty bitty wave. Yeah. But anyway, winners and losers, winner diversity, actual diversity. All sorts of different people voted for Trump and got out of their electoral pens that the Democrat had told them they ought to stay and the Democrats rather, with the exception of seniors and college educated white Women. Huzzah. Trump improved his margins in every group. Winner, Hillary Clinton, no longer the only Democrat to lose to Trump. Winner. Mental health professionals about to make a fortune treating the emotional breakdowns of college educated white women and deranged liberals and journalists who base their entire personalities on hating Trump and his supporters.
Unknown
Wow, What a way to live your life.
Jack Armstrong
The same people who are cutting off friends and loved ones, who care about them deeply as a human being because they. Because they've bought, I think, the most hyperbolic, ridiculous stuff about politics.
Unknown
Spend Thanksgiving alone and in the comfort of knowing at least you're not hanging around with Trump voters. You weirdos.
Jack Armstrong
You are evil. That's right. Another winner. Dean Phillips. Only Democrat with the balls to run against Biden in the Democratic primary and say he's too old. He was mocked and ridiculed at the time.
Unknown
Oh, man. And the Democratic Party cut his legs out from underneath him, made it impossible for him to get anywhere. And he was a hundred percent right, it turns out.
Jack Armstrong
And telling the truth. Yeah. Which is not welcome in politics. Yeah. Another winner, Josh Shapiro. He dodged the bullet of being hitched to Kamala Harris's wife.
Unknown
Right.
Jack Armstrong
He looks smart for not taking the job, which he probably didn't want anyway. We've already forgotten the name of the guy she did pick. The guy in the camo hat who pranced around and lied about China. Yeah. What's his face? Tampons or other.
Unknown
How about his weird five minutes of fame? That'll never. You mean it'll be a trivia question.
Jack Armstrong
Please. Let's begin laughing at the laughing stock. Jeff Bezos, the whole temper tantrum, saying we gotta be a reporter of news, not an opinion machine. Tony Hitchcliffe. And garbage. He goes into how that was like the final week closing argument. Look at this monster. Trump amounted to nothing. Didn't amount to a pile of garbage in terms of electoral effect. Right. That was Elon Musk. Yes, Go ahead.
Unknown
That. Remember, we were counting the days. It had like five days of legs. That Puerto Rico joke as being one of the lead stories. What a stupid decision from the media who is hell bent on bringing down Trump. You thought that was your best argument. That comedian's joke apparently didn't work.
Jack Armstrong
Why? Because they see everything through the lens of identity politics. So this looked like an enormous faux pas and a great brick bet to beat Trump with the rest of us normal people, including plenty of Democrats and lefties, many of whom are listening right now. They're like, yeah, I can't afford my groceries. I don't care what some obscure comedian said about Puerto Rico. New media, alternative media, including ourselves, Big winners in the election. Sunny Hoston and the other ladies of the View for syncing the Harris campaign with the what would you do differently than Biden? There is not a thing that comes to mind, harris said in a breathtaking display of unpreparedness. Is Sunny Hostin a lock for journalist of the year?
Unknown
Well, as she has come out and said she was shocked at that answer, so she was trying to throw Kamala a life preserver because she had flubbed the answer the day before and instead of throwing her life preserver, she threw a cinder block that took her under the water.
Jack Armstrong
Yes. Yeah, well said. Another winner. Women Trump's victory will usher in a golden era of women's rights in spite of the mewling and screeching of college educated white women of a certain age. His chief of staff, Susie Wiles, will be the first woman to hold a job. It'll soon be safe to play sports again. Women can say Merry Christmas and be attractive without getting publicly shamed, et cetera.
Unknown
What are you gonna learn, ladies? America does not want a female president. I think that's the takeaway.
Jack Armstrong
Oh my God. That was an attempt. And I emphasize attempt at humor, ladies, and I apologize for it. Scott Jennings, I heard somebody say the.
Unknown
Other day, how about try something different than pantsuits? Two pantsuit ladies who bring in effeminate men to be their underlings. Try something different.
Jack Armstrong
Yeah, yeah. Margaret Thatcher wore dresses, didn't she? I don't remember. I don't care what they wear. Wear anything. I would wear nothing. Scott Jennings, Great on cnn. Very reasonable, smart, conservative Mark Halperin, whose independent reporting and sober analysis, much of which you heard mentioned here on the Armstrong and Getty show, is vastly superior and more informative than the mainstream media's hackish, hyperventilating. Another example of new media just whooping the old and then some other obscure stuff. Is real a winner.
Unknown
The pantsuit thing is actually interesting, and I learned this from listening to Sarah Isger in the Dispatch. I hadn't known about level one, level two, level three feminism, but like level two feminism or whatever. Maybe one was the pants suit. It's like, see, we can be just like men. We've got our version of suits and here we are in the workplace and then like the next level of feminism. No, I can dress like kind of hot like a woman likes to, sometimes in a skirt and high heels and also be effective. And I think that would be helpful to get Away from that old level of pantsuit thingy. I think there is sort of a subliminal thing going on there.
Jack Armstrong
Yeah. We're going to free you by demanding you adhere to our stereotypes and our orders. You will work outside the home. You will turn your nose up at raising children and being the leader of the family. You will make money for a corporation and you will wear pants in the name of freedom. Right, Right. Yeah. Level threes. Wear whatever you want. Do whatever you want. And I tell you what, that's. And. And I don't know if there's a name for guys like. I'll just speak for myself who are like, women can do whatever they want and achieve whatever they want. And who the hell am I to tell them that it's more satisfying to make another half of a percent for your corporation as opposed to raising children and being the actual functional chief operating officer. As a family, you do what you want. I trust you to make the decision. I don't believe in brow beating people to conform to some sort of pre fab image of what they ought to be. I find it disgusting no matter what label it puts on itself. We're going over the winners and losers from the recent election. Loser number one. Come on. Joe Biden. The experts told us Sleepy Joe would be the most consequential president since fdr. When he dropped out in July, those same experts compared Biden to George Washington, praising his selfless act as political courage.
Unknown
He will not be remembered that way.
Jack Armstrong
Now, in reality, Biden's decision to run for reelection. Rice Andrew Stiles will be remembered as one of the most reckless acts of political hubris in American history. His selection of Kamala Harris as a running mate in 2020, his decision to immediately endorse her, also regarded as monumental blunders. This is the legacy Biden deserves.
Unknown
They met. Trump and Biden met for two hours yesterday. I find that pretty interesting alone. What were they talking about? Trump says they talked a lot about Ukraine and talked a lot about Israel. But two hours? That's a pretty serious conversation.
Jack Armstrong
Oh, yeah, yeah, absolutely. I have no doubt. I'm glad to hear it, honestly. Another loser. Of course. Tim Waltz. Oh, right, the camo hat guy who pranced around on stage and lied constantly about China and other weird things. He was supposed to help the Harris campaign appeal to men. He pretended to go pheasant hunting, cackled with the ladies of the U and played video games with aoc. He said Republicans were weird. Trump won male voters by 13 points.
Unknown
Right. And obviously, if you're gonna pick somebody out of the whole crowd. That was weird. He was almost certainly the weirdest. And I'm a knucklehead at times.
Jack Armstrong
Another losers. Other losers. The Obamas. And, you know, he talked about various things, but they tried to shame black men into voting for. Yeah, Kamala scolding the brothers for hating women and. Oh, go away. Please go away. Other losers. Alex Soros, who's the son of billionaire George Soros, who funneled hundreds of millions of dollars into the Democrats in 2024. Hanging out with him at elite conferences, inviting them to his swanky Manhattan pad, et cetera, and some other people you've never heard of. The mainstream media journalists are the worst. They scolded the American people for feeling stressed about the economy and thinking Biden was too old to run for reelection. They still don't understand why no one trusts them or takes them seriously. They tried to put their thumbs on the scale for Harris, but it made no difference. Due to their rapidly diminishing credibility and relevance, they will learn nothing and carry on into the void.
Unknown
Speaking of spending money, did you see that Kamala Harris's campaign gave Al Sharpton a half a million dollars? $500,000 they gave to Kamala before he did the glowing interview with her.
Jack Armstrong
Wow.
Unknown
How? What kind of shakedown is that? And I can't believe that they play that game without freaking Sharpton. You gave him a half a million dollars so he'd do a softball interview with you?
Jack Armstrong
Yep. More losers. The Lincoln Project. Go away. Shameless grifters, criminals, terrorists in Iran. Not even Ben Rhodes can save you now. Losers.
Unknown
That Al Sharpton thing pisses me off because that interview got a fair amount of play in mainstream media because she was addressing the black community and all that sort of stuff. He wouldn't do the interview unless he got a half a million dollars.
Jack Armstrong
Oh, my God. Can we have some sort of giant statement from the black folks in America? Fabulous, loyal Americans who disavow the very concept of Al Sharpton being a spokesperson for anybody.
Unknown
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Jack Armstrong
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Jack Armstrong
The Armstrong and Getty show. This is interesting and not terribly shocking. Well, I guess when you get down to the granular details, it is fairly shocking. But Americans are more reliant than ever on government aid. An aging population in economic distress raised dependence on federal and state support. And it matters a hell of a lot for our elections, as you might guess. Wall Street Journal looking into a major study. This is a little graphics heavy, but I can interpret it for you. They're talking about the share of personal income from government assistance. How in how many counties is it 25% or more. In 1970, government safety net money accounted for significant income. That's more than 25%. 25% or more in fewer than 1% of America's counties.
Unknown
So say that again. In what year?
Jack Armstrong
In 1970, it was less than 1%. Okay, okay. In 2000, it went from less than 1% to roughly 10%. That's the year 2000.
Unknown
10%, which a tenfold increase is not minor.
Jack Armstrong
In the year 2022, 53%, more than half of U.S. counties drew at least a quarter of their income from government aid.
Unknown
So this is, we were talking about this last week and now that it's the average person in the bottom quintile. I know this is a lot of complicated talk here, but the bottom 20% of income earners in America get on average $68,000 per household of transfer payments. And that's left out of every argument about we have the highest inequality of any nation in the, in the world. They never include this stuff. And what you just talked about there, that's never included in these conversations from Bernie Sanders or probably Tim Walls tonight in the debate, people living paycheck to paycheck. Well, more people are getting the handouts from the government than ever before by a lot.
Jack Armstrong
And as we've discussed with Craig the healthcare guru, socialism is not a light switch. It's a, it's a fungus.
Unknown
Oh, absolutely.
Jack Armstrong
Spreads across a country and its programs, benefits and yeah, yeah, sure.
Unknown
Starts getting across. There's just no stopping it.
Jack Armstrong
Yeah. So the big reasons for this dramatic growth are interesting. Some of them I think most conservatives would reject out of hand. But it gets a little complicated when you dig into it. There are a much larger share of Americans who are seniors, period. We're living longer and we've aged as a population. We're not having kids anymore. And health care. I'm sorry, Health care costs have risen fairly dramatically as they've gotten more fantastic. The technology we have at our disposal to keep ourselves healthy and alive is truly awe inspiring. But it costs.
Unknown
Yeah. And as my doctor said last week, what exactly is the point? Sometimes he wonders as we just get, you know, our brains don't work, our bodies don't work, but we hang around longer at a great expense.
Jack Armstrong
Right? Well, could be the money is the point in at least some situations. Although it's. I understand it's an odd conundrum that a person could sit around rubbing their chin thinking about for a long time. You're not going to turn down medical advances? No, because it's. Every advance is an incremental step. It can lead toward other advances or cures or what have. But at the same time, you and your doctor are quite right. Hey, good news. We can keep Alzheimer suffering granny alive for one more year. We can stave off her cancer with this new gene therapy. Blah, blah, blah. What are we doing here?
Unknown
Yeah.
Jack Armstrong
Anyway, to get back to the major thread of the thingaruni here, blah blah, blah. At the same time many communities. So it's the aging and the development of medical technology, number one. At the same time, many communities have suffered from economic decline because of the challenges, including the loss of manufacturing, leaving government money as a larger share of people's income. In such places I could bore you to death. I won't because I do this for a living and enjoy getting the paycheck. But one of the big debates in conservative circles these days is the question of the Reagan esque free trade global economy, conservatives versus what's being called the new conservatism or whatever you want to call it.
Unknown
Government conservatism, some people call it, yeah, industrial planning.
Jack Armstrong
Sometimes people even call it central planning, what have you. And are bellowing at each other about it as if the solutions and the questions and answers are very simple. They're not at all. There are trillions of dollars at stake. So I understand why the people making lots and lots of money want to keep that money flowing. They don't care how much unemployment there is in rural Pennsylvania, for instance. At the same time. Oh, and the other point I was going to make on the side of the new conservatives. Back in Reagan's day, we didn't have the situation where our chief global adversary is one of our chief trading partners, technology partners, and practically indispensable to the economy. So if you are pitching free global trade of a Reagan esque sort. You are pitching continued interaction slash dependence with China, which is just a bad idea. Times have changed. The arguments have to change too. So I have sympathy with both sides, but it is not simple. So for its analysis of government spending, eig, which is the folks doing the analysis used a government definition of income that includes spending on programs that Americans pay into such as Medicare and Social Security. Another major government health program, Medicaid is counted. The analysis also includes unemployment insurance, food stamps, the earned income Tax credit, veterans benefits, Pell grants, Covid era payments and other income supports. States help pay for some of these programs like Medicaid, but the Federal government covers roughly 7, 70% of the cost and it doesn't include other ways government spending floods into corners of America such as farm subsidies or milit military bases. So this spending accounts for a big and growing share of not only the income of the nation but also our national debt. We are addicted to government spending slash social programs as a country. There's no weaning.
Unknown
There's no weaning off that either. I don't believe you can go backwards. I don't think it's possible.
Jack Armstrong
No, but you do have to be honest about the dollars and cents coming and going and we're headed for a cliff.
Unknown
So we went from 1% in 1970 to over half now?
Jack Armstrong
Correct.
Unknown
That's unbelievable. Not very many people could tell you that.
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Armstrong & Getty On Demand: The A&G Replay Monday Hour One – Detailed Summary
Release Date: November 25, 2024
Hosts: Jack Armstrong and Joe Getty
Podcast: Armstrong & Getty On Demand
Platform: iHeartPodcasts
The episode begins with Jack Armstrong and Joe Getty addressing their listeners from a live broadcast at the Abraham Lincoln Radio Studio. Despite being on vacation, they delve into substantial topics, ensuring listeners receive valuable insights and discussions typical of "The Armstrong & Getty Show."
Odoo Business Management Software
Jack Armstrong introduces Odoo, a comprehensive business management platform that integrates CRM, HR, and accounting into one system. He emphasizes the cost-effectiveness of Odoo, highlighting its ability to streamline business operations without the high expense typically associated with business software.
Private Equity in the HVac Industry
The discussion shifts to the impact of private equity on the Heating, Ventilation, and Air Conditioning (HVac) industry. Armstrong and Getty explore how private equity firms like Redwood Services are acquiring HVac businesses, aiming to enhance profitability and efficiency. They express concern over the potential decline in service standards post-acquisition.
Entrepreneurial Success Stories
Armstrong shares an inspiring story of an individual who turned his life around from selling meth to co-founding a legitimate plumbing business. This narrative underscores the American spirit of second chances and entrepreneurship.
Government Handouts vs. Business Growth
A significant portion of the discussion revolves around the dependency on government assistance versus fostering entrepreneurial efforts. Armstrong criticizes both major political parties for promising phony government handouts during elections, asserting that true prosperity stems from starting and growing businesses.
Resentment Towards the Wealthy
The hosts delve into the cultural shift where successful individuals are often resented rather than celebrated. Armstrong argues that the narrative of the wealthy stealing from others for their success is unfounded and harmful.
Capitalism as an Engine of Prosperity
Armstrong references Jonah Goldberg's perspective, emphasizing that poverty has always existed, but wealth is created through capitalism. He contends that without capitalism, widespread poverty would be the norm.
Critique of Socialism
The hosts discuss the dangers of socialism, describing it as an uncontrollable "fungus" that spreads across the country, increasingly dependent on government programs.
China’s Rise as a Leading Polluter
Armstrong and Getty analyze a Wall Street Journal report highlighting China's ascent to the second-largest polluter globally, surpassing Europe. They critique the focus on historical emissions over current ones, arguing that contemporary pollution levels are more relevant to climate policy.
Implications for Global Politics
The discussion touches on the complexity of addressing climate change when major polluters like China are integral global trade and technology partners for the U.S. Armstrong warns that simplistic solutions fail to account for the intertwined economic relationships.
Trump’s Victory and Its Impact
The hosts provide a critical overview of the 2024 election results, characterizing Donald Trump's win as "stunning yet indecisive." They highlight the modest Republican majority in the House compared to historical landslides, labeling it an "itty bitty wave."
Winners in the Election
Armstrong and Getty list several "winners" from the election, including:
Trump: Improved margins across diverse voter groups.
Dean Phillips: Noted as the only Democrat running against Biden in the primary.
Josh Shapiro: Avoided political pitfalls linked to Kamala Harris’s campaign.
Mark Halperin: Praised for independent reporting and analysis.
Quote:
Jack Armstrong [25:08]: "Another winner, Josh Shapiro. He dodged the bullet of being hitched to Kamala Harris's wife."
Losers in the Election
Conversely, they identify "losers" such as:
Joe Biden: Criticized for running for reelection and his choice of Kamala Harris as a running mate.
Kamala Harris’s Campaign: Targeted for poor strategy choices, including supporting Al Sharpton for financial gains.
Mainstream Media Journalists: Accused of losing credibility and failing to connect with the public.
Quote:
Jack Armstrong [31:32]: "Joe Biden will not be remembered as the most consequential president since FDR. His decision to run for reelection is recklessly hubristic."
Rise in Government Assistance
Armstrong presents alarming statistics from the Wall Street Journal, illustrating the dramatic increase in government aid dependency across U.S. counties. From less than 1% in 1970, over half of the counties now rely on government support for a quarter or more of their income.
Consequences of Increased Dependency
The hosts warn of the unsustainable trajectory of government spending, linking it to rising national debt and economic instability. They argue that this dependency undermines the nation's economic foundations and highlights the necessity for honest fiscal policies.
Jack Armstrong and Joe Getty wrap up the episode by reiterating the importance of entrepreneurship over government dependence, critiquing both political parties' reliance on handouts, and emphasizing the need for sustainable economic policies. They encourage listeners to engage with their podcast for ongoing discussions and insights into current events, politics, and economic issues.
Notable Quotes Summary:
Jack Armstrong [04:00]: "Sometimes business software can't talk to other programs, but Odoo has every program from CRM to HR to accounting in one platform."
Joe Getty [06:21]: "Poverty is the national, the natural state of human beings. Why is there wealth? That's the question."
Jack Armstrong [31:32]: "Joe Biden will not be remembered as the most consequential president since FDR. His decision to run for reelection is recklessly hubristic."
Entrepreneurship vs. Government Aid: The hosts advocate for business growth as a means to societal prosperity, criticizing the increasing reliance on government assistance.
Political Landscape: A critical analysis of the 2024 election highlights perceived shortcomings in both major political parties and the mainstream media.
Economic Dependencies: Alarming growth in government aid dependency threatens economic stability and underscores the need for policy reforms.
Climate and Global Politics: Addressing climate change requires nuanced strategies that consider current polluters like China and the intricate global economic relationships.
Cultural Shifts: There is a growing resentment towards wealth and success, which the hosts argue undermines the foundational principles of capitalism.
For more insights and detailed discussions, listeners are encouraged to subscribe to the Armstrong & Getty On Demand podcast available on all major podcast platforms.