No Spin News - Weekend Edition - April 12, 2025

Summary

Bill O’Reilly’s No Spin News and Analysis – Weekend Edition Episode: April 12, 2025

Bill O’Reilly’s No Spin News and Analysis Weekend Edition, hosted by Bill O’Reilly, delves into pressing political and economic issues of April 2025. This detailed summary captures the episode's key discussions, insightful analyses, and varying perspectives presented by guest speakers, providing a comprehensive overview for listeners and newcomers alike.

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1. EU’s Tariff Policy and Its Implications

The episode opens with Doug Schoen analyzing recent developments in the European Union's trade policies. He highlights Ursula von der Leyen, the EU Commissioner based in Brussels, announcing the EU’s intention to eliminate all tariffs between the EU and another unspecified region, covering sectors such as chemicals, pharmaceuticals, machinery, and cars.

[00:59] Doug Schoen: "Ursula von der Leyen...announces that the EU wants 0 for 0 tariffs. No tariffs on either side. Big move, she made the announcement."

Schoen suggests that this policy could bolster Donald Trump’s position by fostering a more competitive trade environment, potentially benefiting the stock market. However, he voices caution, emphasizing the need for multiple perspectives to fully understand the ramifications.

2. U.S. Inflation and Economic Anxiety

Transitioning to the U.S. economy, Doug Schoen and an Unknown Political Analyst discuss the persistent issue of inflation. Despite localized relief in areas like Long Island, the Analyst asserts that widespread consumer benefits remain elusive.

[03:25] Unknown Political Analyst: "Inflation, Bill, we still haven't had prices come down. The average guy going to the supermarket hasn't seen a material benefit in his life, and that is his Achilles heel now, as it was Joe Biden."

They debate the broader economic landscape, noting that while some regions experience temporary price drops, the national trend indicates ongoing financial strain for average Americans. This economic pressure fuels uncertainty and diminishes confidence in the current administration’s policies.

3. Trump’s Support Base Amid Economic Challenges

The discussion shifts to the resilience of Donald Trump’s support base. The Analyst categorizes Trump's supporters into two groups: the steadfast 35% MAGA crowd and an additional 15-16% whose support is wavering due to economic instability.

[04:23] Unknown Political Analyst: "The way I see it, Bill is first to start with where I think I agree and where you're right, the 35% who are the MAGA crowd, they're with him. Come hell or high water, they're going to stay."

Schoen theorizes that if inflation persists and economic conditions worsen, Trump's approval ratings may decline, potentially damaging his political influence in the long term.

[08:55] Doug Schoen: "I think he's got six months. Am I wrong?"

The Analyst concurs, highlighting the necessity for the economy to show signs of improvement to maintain and grow Trump’s support base.

4. Media Landscape and the Associated Press Verdict

A significant portion of the episode examines the evolving role of mainstream media, particularly focusing on the Associated Press (AP) and its contentious relationship with Donald Trump.

[27:00] Doug Schoen: "Judge Trevor McFadden... holds that under the First Amendment, the government cannot shut doors to other journalists because of their viewpoint."

Dan Abrams, a media expert, joins the conversation to assert that traditional media outlets like the AP are losing their influence due to increased competition and heightened partisanship.

[28:13] Dan Abrams: "The mainstream media... has definitely lost influence. It's lost viewers, it's lost its power."

Abrams attributes this decline to the proliferation of alternative media sources that cater to specific political leanings, reducing the gatekeeping role once dominated by organizations like the AP.

5. Colorado’s Controversial Social Legislation and DEI Debate

The episode delves into Colorado’s recently passed bills related to abortion and transgender policies, which have sparked heated debates over constitutionality and parental rights.

[12:05] Doug Schoen: "The bills were passed include SB 25183, which requires taxpayers to fund abortion... CB 25 1312 prohibits cooperation in out-of-state investigations on transgender procedures and abortion services."

Bill O’Reilly invites Cornel West, a respected college professor and co-author with Robert George on "Truth Dialogue on Fruitful Disagreement in an Age of Division," to discuss the implications of these laws. The conversation centers around Diversity, Equity, and Inclusion (DEI) policies, with O’Reilly and West expressing concerns over equity measures fostering dependency and reverse discrimination.

[21:04] Bill O'Reilly: "I believe in truth, justice, and love. That's what I'm willing to live and die for. I'm not willing to die for diversity, equity, and inclusion."

West challenges the notion that DEI initiatives can correct historical injustices without creating new forms of inequality, advocating instead for policies that promote fairness without compromising merit.

[24:16] Bill O'Reilly: "How are we going to make sure that people who have been hated and despised like black folk are treated fairly and justly?"

This segment underscores the cultural and ideological divides surrounding contemporary social policies and their impact on societal cohesion.

6. U.S.-China Trade Relations and Economic Strategies

In the episode’s latter half, Dr. Nicholas Lardy, a professor of international economics, joins to discuss the complexities of the U.S.-China trade war and its broader economic implications.

[36:59] Dr. Nicholas Lardy: "China can offset loss of export revenue by increasing their fiscal expenditure, loosening their monetary policy."

Doug Schoen argues that while the U.S. holds leverage over China, China's vast economic resources allow it to sustain its trade and military expenditures despite reduced exports to the U.S.

[41:12] Dr. Nicholas Lardy: "They have an industrial complex that produces most of their military equipment. They're not buying a lot of sophisticated military equipment on the international market."

The conversation explores critical issues such as China’s dominance in rare earths—a sector crucial for various high-tech industries—and the potential relocation of major corporations like Apple out of China in response to ongoing tariffs.

[38:05] Dr. Nicholas Lardy: "rare earths is far and away the best example. China has almost a complete monopoly on the refining of rare earths."

While Schoen remains optimistic about negotiating a favorable trade deal, Lardy emphasizes the unpredictability of the outcome, cautioning that China's economic resilience presents significant challenges.

[42:02] Dr. Nicholas Lardy: "Trump is overestimating his leverage. He certainly has some leverage... but I think he's probably overestimating his leverage."

This dialogue highlights the intricate balance of power in international trade and the uncertain future of U.S.-China economic relations.

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Key Takeaways:

• EU Tariff Policies: The EU's move to eliminate tariffs aims to foster a more competitive trade environment but may have mixed economic implications for both regions.

• Persistent Inflation: Despite localized price drops, inflation continues to strain U.S. consumers, undermining confidence in the current administration’s economic strategies.

• Trump's Support Base: While Trump’s core MAGA supporters remain loyal, economic hardships and geopolitical tensions may erode broader support over time.

• Evolving Media Influence: Mainstream media outlets like the AP are declining in influence due to rising competition and increased partisanship, reshaping the information landscape.

• Social Policy Debates: Colorado’s controversial legislation on abortion and transgender issues exemplifies the ongoing cultural and ideological battles over social policies and DEI initiatives.

• U.S.-China Trade Dynamics: The trade war exhibits a complex tug-of-war, with both nations holding substantial economic leverage, making the outcome of negotiations uncertain.

Notable Quotes:

• Inflation Impact:

  [03:25] Unknown Political Analyst: "Inflation, Bill, we still haven't had prices come down. The average guy going to the supermarket hasn't seen a material benefit in his life, and that is his Achilles heel now, as it was Joe Biden."

• Trump’s Support Base:

  [04:23] Unknown Political Analyst: "The 35% who are the MAGA crowd...come hell or high water, they're going to stay."

• Media Influence:

  [28:13] Dan Abrams: "The mainstream media... has definitely lost influence. It's lost viewers, it's lost its power."

• DEI Debate:

  [21:04] Bill O'Reilly: "I believe in truth, justice, and love. That's what I'm willing to live and die for. I'm not willing to die for diversity, equity, and inclusion."

• U.S.-China Trade Relations:

  [36:59] Dr. Nicholas Lardy: "China can offset loss of export revenue by increasing their fiscal expenditure, loosening their monetary policy."

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This episode of No Spin News and Analysis provides a comprehensive examination of current political and economic challenges, offering listeners diverse viewpoints and in-depth analysis. From international trade disputes and inflation concerns to media transformations and social policy debates, Bill O’Reilly facilitates a critical dialogue on the forces shaping the contemporary landscape.

Transcript

[Bill O'Reilly]

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[Doug Schoen]

Do you know who Ursula von der Leven is? I'd probably say no. Last name? Leon. Ursula von der Leyen. She is the Commissioner of the EU, Ursula Brussels. She announces that the EU wants 0 for 0 tariffs. No tariffs on either side. Big Duna, she made the announcement. Stock market comes up. Just keep that in mind. Okay, so Ursula said we don't want any of these tariffs now. We want to do away with all of them. Good, good. Let everybody compete. Ursula, Donald Trump. Now this is this. If this happens and Ersa says chemicals, pharmaceuticals, rubber, plastic, machinery and cars, no tariffs. Now it'll be interesting to see how the hate Trump media. This is good for Trump, but caution, okay, this is just verbiage. Now. I'm sure there's a lot of other stuff in there, but I'm reporting what I know. Get another point of view. And as Doug Schoen, you know him, he was very good during the election cycle for us. He's a Democrat, political strategist, author of the book Politics of Life, and he joins us from Miami. All right, my analysis is it foolish, naive, misleading. What do you think?

[Unknown Political Analyst]

I think you're basically on the money. Bill. We're in the midst of a man made crisis that could resolve itself shortly or it could resolve itself over time. The dominant sentiment I pick up in the polling we were doing is uncertainty combined with, as you said correctly, Bill, doubt in the quality and judgment of our administration. Not dismissal, but deep, deep uncertainty.

[Doug Schoen]

But why would they be uncertain if the border has worked, if the Doge thing has uncovered billions of dollars of wasteful spending, if the DEI stuff is out, which most Americans don't want. Why would there be uncertainty about Trump? So far, he's doing pretty well, right?

[Unknown Political Analyst]

Inflation, Bill, we still haven't had prices come down. The average guy going to the supermarket hasn't seen a material benefit in his life, and that is his Achilles heel now, as it was Joe Biden.

[Doug Schoen]

All right, so inflation remains stubborn. Although where I live on Long island, gas is down. It went below three bucks a gallon over the weekend. Eggs are down 50%, you know, because the bird flu thing is subsided. I don't, I'm not, I'm not in the grocery store all that often. But I'll take your word for it that across the board, in most parts of the country, you haven't seen a lot of relief. All right, so that the folks, the ones that voted for Trump, are they going to bail now that their stock and bond portfolio is cratering? Do you believe they are going to bail?

[Unknown Political Analyst]

The way I see it, Bill is first to start with where I think I agree and where you're right, the 35% who are the MAGA crowd, they're with him. Come hell or high water, they're going to stay. There's no doubt there. The next 15, 16% that gave him his narrow majority in the popular vote, they're asking questions, what's happening to my 401k? Is inflation coming down? Are we in an unstable situation in the Middle east and with Russia and Ukraine? Not that they've turned on Trump, they haven't. He's at his highest level of approval ever recorded for him. But there's doubt. And the doubt is, I think, been exacerbated by the events of the last couple of days of last week and today.

[Doug Schoen]

All right, that polling is going to go down for him. You know that. Everybody knows that. You know, it's not. It's been four days. And the market today, as I said, is up and down and in and out. But the market can come back. I, I firmly believe that. I mean, I, people, I can't give financial advice to people. But in my column, I said, you know, if you panic in any part of life, not just here, that's not going to be a positive for you. You got to, you got to maintain. And if you believe in what you bought, the companies that you bought, it's not going to be as smooth as it thought. But dumping them now at a low level, you're never going to get it back.

[Unknown Political Analyst]

But if you hold them, don't give financial advice either. But as a life lesson, Bill, that is very Good advice. And Warren Buffett said basically the same thing you said in your Talking Points memo, which is, if you're worried about the markets in your portfolio, don't look, don't look.

[Doug Schoen]

I mean, and it's. But the frustration is there are a lot of older people and there. And a lot of people who have got college funds and they're getting hurt and they might need the money. And that's just the vagaries of life. I mean, sometimes it works out and sometimes it doesn't. Now, the Democratic Party, your party, should be able to take advantage of this kind of chaos. Any political chaos works for the opposition, but because it has no leader, no one, it can't take advantage of it. Am I wrong?

[Unknown Political Analyst]

It can only take advantage of it if, as you suggest, I think correctly, Trump's numbers and the Republican numbers come down, if the Republicans are able to keep their majority in both states.

[Doug Schoen]

But let's assume that they do come down. Let's assume that a week from now, on the 14th of April, that Trump's approval rating slides to the low 40s, which it could. Who's going to step up on the Democratic side?

[Unknown Political Analyst]

We don't have a leader in a midterm. You can win a midterm. As your Talking Point memo, your word was grizzly. I think the results can be grizzly. 2028, we don't have a leader. There's nobody on the horizon. Agree with the overall assessment.

[Doug Schoen]

All right. But it's still too early for the midterms. It's 19 months now for the midterms.

[Unknown Political Analyst]

Right. So the Democrats are running against Trump not for any ideas, that's for sure.

[Doug Schoen]

No, no, no, no, no. But as you know better than anybody in this country, because you do this for a living and have done it for a long time, I think since US Grant in the game, okay. That if you tear down a president that's hard to reverse. So you saw with Biden. So Biden just got into one mess after another after another after another, and people just lost confidence in him. But Trump is a different cat, as Dennis Miller would say. So Trump is defiant. My vision is going to work now, six months from now in the fall, if it's still. Inflation is still high, prices aren't down. In fact, if they go up and the stock market is still just impossible, then I think Trump will have damaged himself beyond repair. But I think he's got six months. Am I wrong?

[Unknown Political Analyst]

I would agree with that. But I would tell you the economy has to improve vis a vis inflation. And prices and bottom line, there has to be a relatively quick solution vis a vis the tariffs. We just can't go indefinitely with this uncertainty.

[Doug Schoen]

All right, last question. I think the tariff thing is going to work out with Europe. I think it'll work out with Canada and Mexico. But China is a different story. So China seems to be itching for some kind of confrontation. I don't really know why, because the Chinese economy is very shaky. How do you see that?

[Unknown Political Analyst]

I agree with you. That conflict, if it be limited to China. Bill, I believe Donald Trump will be supported by the American people en masse if he puts tougher, tougher retaliatory tariffs on the Chinese. If the rest of the world is resolved in the way you suggest, I think this will have a soft landing and a happy ending.

[Doug Schoen]

No, I don't know about happy ending because.

[Unknown Political Analyst]

You know.

[Doug Schoen]

All right. All right, Doug, thanks very much. We always enjoy talking. Thank you.

[Unknown Political Analyst]

Always.

[Doug Schoen]

We'll see you soon.

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[Doug Schoen]

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[Doug Schoen]

Stunning. The Boulder mentality has taken over Denver. Okay, so the legislature house pushed through a bill. Here is what the bill is quote, this is from a summation by FOX News. The bills were passed include SB 25 183, which requires taxpayers to fund abortion HB 25 1309, mandating insurers cover transgender procedures regardless of age HB 251312 imposes statemented gender policies on schools, considers it coercive control in child custody cases when a parent does not affirm a child's gender identity and SB25 129, which prohibits cooperation out of state investigations on transgender procedures and abortion services. Okay, so that's clearly unconstitutional because of the Hyde Amendment. You cannot force people of religious people, non religious who don't believe in abortion to pay for it. Colorado doesn't care. Taking all parental rights away. If you're a parent in Colorado, you have no rights. Now, if this is signed by the dopey governor out there who's a total loon, probably will be signed. You have no rights. Your 10 year old going to go, oh, I want to be a girl. And you can't stop it under Colorado law. This is just insane. So the good people of Colorado, and there are many, you need to get off your skis. You need to get out in the streets and you need to right this wrong. Throw these people out of office. All right, let's bring in a guy who sees it differently. Known him a long time. His name is Cornel West. All right. He is a college professor, taught at Harvard, Princeton, and he's now at the Union Theological Seminary. He's got a new book out with another professor, Robert George. Here's the book, reading it last night. Truth Dialogue on Fruitful Disagreement in an Age of Division. I guess Professor George is a little more conservative than Cornel west, but Alexandria Ocasio Cortez is more conservative than Dr. West and he joins us now from New York City. You know, I know this DEI executive order signed by Donald Trump wasn't in play when this book was written, but I wanted to get your feeling on it. I have no problem with diversity. I think that's a strength of the country that's provable. I have no problem with inclusion. I want every American to have an equal pathway to success. I have a big problem with equity, favoring certain groups because of gender, skin color, that kind of thing. Am I wrong?

[Bill O'Reilly]

Well, I mean, one, I think the important thing though, brother, and thank you so much for having me on. It's been a long time since we've had a chance to have these conversations that we used to have. But the important thing is just trying to keep a moral and spiritual compass at the center. So even before we talk about dei, talk about foreign policy, it seems to me we're at a moment now where we're seeing a kind of expansion of what I called a gangsterizing sensibility, which is push integrity, push honesty, push decency aside. And so empathy becomes an enemy, cruelty becomes a strategy, and truth becomes an afterthought. Brother Robert George, and he is a conservative Catholic brother who I love very deeply and respect. We talked together for 20 years at Princeton. We have deep ideological and political disagreements, but he's my brother and he's in many ways like family. So the question becomes, how do you stay in contact with the humanity of other people that you have deep disagreement with in a moment in which your culture is being more and more gangsterized?

[Doug Schoen]

Give me an example of the gangsterism. Give me one very vivid example of the gangsterism.

[Bill O'Reilly]

Yeah, Wonderful question. You remember the great Rabbi Heschel said, indifference to evil is more insidious than evil itself. I think there's an indifference to vulnerable people, the people who are on the margins, people who are weak and feeble, does not attempt to embrace and have a compassion, even when we have disagreements in policy. When you make the point, for example, about the brother who was taken to the El Salvadorian prison. Right. And we know that they got it wrong because every institution is going to be falling in some way. These are human beings. They definitely got it wrong. And we ought to bring him back. I don't hear that from any of the officials in Washington. They said they're not interested, even though they know that he's.

[Doug Schoen]

Well, that's an excellent point. That's an excellent point. Donald Trump, the president, should have said, we're going to bring him back, as I mentioned.

[Bill O'Reilly]

Absolutely.

[Doug Schoen]

All right, let me. Let me challenge.

[Bill O'Reilly]

Let me learn this at Marist College. You learned this from William and Winifred. There's got to be some moral sensibilities. I got it even in a moment of high poly.

[Doug Schoen]

And I do not disagree with that. I don't. I think that you have to do the right thing. And the right thing. The right thing is fairly clear to most people. But we live in a country that's divided between the politicians, the ruling class, and the folks. I'll submit to you based on data because I know you're a big shot Ivy League professor.

[Bill O'Reilly]

Union Seminary. Union Seminary, brother.

[Doug Schoen]

I know, I know, but I got a Harvard degree, okay? The American.

[Bill O'Reilly]

Well deserved. Well deserved.

[Doug Schoen]

Well, I don't know about that, but The American people are the most generous people on earth. All right? We give more money to help poor people, marginalized people, than any other population, okay? And our system, both state and local and federal, is loaded, loaded with entitlements for marginalized people. So that you, even the poorest in America, have air conditioning, computers, refrigerators, cars. Our poor live better than European middle class. So I don't know whether this. Whether this tsunami wave that you're portraying of insensitivity. Really.

[Bill O'Reilly]

Well, my brother, you know, We've got about 1.4 homeless people in the country.

[Doug Schoen]

Mostly drug addicted, mostly people who cannot.

[Bill O'Reilly]

Earn a living, have televisions that they out in the cold. I live in Harlem. I can see them. I give them money from my pocket.

[Doug Schoen]

But you know what they're doing with the money? They're buying heroin with it and fentanyl with it.

[Bill O'Reilly]

No, no, but some of them are unemployed and. Actually, some of them.

[Doug Schoen]

Not many.

[Bill O'Reilly]

Well, no, I don't think you can say that. The vast majority are, and I spent a lot of time with them.

[Doug Schoen]

Well, the stat is between 75 and 80% of homeless people are addicted to substance. That's the stat.

[Bill O'Reilly]

Yeah, but that. But that doesn't mean they're not worthy of a certain kind of passion.

[Doug Schoen]

But you can give them as much money as you as you want, and the money's going for substance. All right? The only time they see a television is when they steal it and sell it. Come on.

[Bill O'Reilly]

But we've got one out of five children who are in poverty.

[Doug Schoen]

Two out of five because their parents are substance abusers. Well, no, no, no.

[Bill O'Reilly]

You know, the vast majority of children who are poor don't have parents who are substance abusers.

[Doug Schoen]

75% of all. No, no, no. Come on, we're. We're academics here. 75% of all abused and elected children, neglected children, are the sires of addicted adults.

[Bill O'Reilly]

75%. I haven't seen that statistic. Now, if that's the case, Department of.

[Doug Schoen]

Health and Human Services just go to them and they'll give it to you.

[Bill O'Reilly]

I'd have to see that, though. But for me, whatever their condition, they deserve serious attention because the human beings made in the image of God and they have.

[Doug Schoen]

They deserve to be treated with dignity.

[Bill O'Reilly]

Absolutely. That's what I do agree.

[Doug Schoen]

You have to isolate them in order to do that.

[Bill O'Reilly]

Well, I can understand that, too, but the crucial point is the dignity. Because we're living in a time in which it's so easy to lose the dignity. So, for example, when we talk about Dei Right now, I've never been a big DEI person.

[Doug Schoen]

Why?

[Bill O'Reilly]

Because I believe in truth, justice, and love. That's what I'm willing to live and die for. I'm not willing to die for diversity, equity, and inclusion. DEI was an attempt to respond to the fact that for so long, black people enslaved for 244 years, nearly 100 years of lynching, Jim Crow, Jane Crow and segregation. And we finally raised the question, how are we going to treat black people fairly and decently in a society where they have not been treated that way? So we started with affirmative action. We had debates over affirmative action. We must ensure that people are qualified, but when they're qualified, they must not be discriminated against.

[Doug Schoen]

100% with you.

[Bill O'Reilly]

Why? Because we're concerned about truth, fairness, 100% with you.

[Doug Schoen]

But here's where you're making your mistake.

[Bill O'Reilly]

This is about what our lives ought to be about.

[Doug Schoen]

You don't correct historical wrongs by creating contemporary wrongs.

[Bill O'Reilly]

Oh, I agree. I agree.

[Doug Schoen]

To apply college admission or job acceptance based on skin color or gender is wrong.

[Bill O'Reilly]

Oh, I agree with that.

[Doug Schoen]

All right, so we're on the same page there for sure.

[Bill O'Reilly]

But part of the challenge is this, though, my dear brother, as you know, for so long, when the pool of the qualified was one in which, going back to the history of Harvard, right, was anti Catholic, was anti Jewish, was deeply anti black. It was the wasp. It was a white Anglo Saxon. Protestants qualified who were chosen, qualified Irish couldn't get in. Qualified Jews couldn't get, for the most part, couldn't get in. Yeah, quotas for Jews. Qualified black folk could hardly get in. W.B. du Bois, Ph.D. from Harvard, writes a dissertation in German and University of Humboldt in Berlin. He can't think about getting a job in university. We know that's racist. That's old racism. Just like you got anti Catholicism and you had anti Jewish sentiment. Now you move to the 60s and we say, oh, now we can expand the pool of the qualified, and we're not talking about the unqualified.

[Doug Schoen]

And I agree that that should happen. And that's why I was a big factor in President Obama's Brother's Keeper program, because that's the pathway. And here's my last question for you. I want you to think about this question. I believe that equity, which is now against the law by the executive order of President Trump, creates a culture of dependence and is actually insulting to the people who get hired or accepted in college because of it. It's basically saying to you, you know, you're not Good enough to compete. So we're going to get you in here based on something that doesn't have anything to do with the competition. And I believe that that creates a culture of dependency, that Big brother government. Okay, Or Big Brother Harvard or Princeton or whoever. We're going to decide that. You need a little help. I don't think that's right. Last word.

[Bill O'Reilly]

I think that you make a very important point. But the crucial thing is how are we going to make sure that people who have been hated and despised like black folk are treated fairly and justly? Because if you have a history of a country where in the name of marriage, you allow white male mediocrity and you know, there is a history of white male.

[Doug Schoen]

It happens. Sure.

[Bill O'Reilly]

History of white male.

[Doug Schoen]

Absolutely. Mediocrity absolutely happens.

[Bill O'Reilly]

And through family connections and legacies and so forth and so on, where is the fairness? Where's the truth? Where's the compassion?

[Doug Schoen]

Well, extra help is what I got when I needed it in biology and geometry and extra help is fine, but not exclusionary equity policies. The book is Truth Matters. I want everybody. And you know what? You know, it's really worthy. And I'm sorry you left Harvard, by the way. You want to tell us real quick why you left Harvard?

[Bill O'Reilly]

Well, we had a major struggle over the issues of the Palestinian struggle and my connection with what's going on in Gaza.

[Doug Schoen]

It was all of that, all right?

[Bill O'Reilly]

All of that going on. And for me, I believe in lifting every voice. Everybody has a right to be wrong. They have a right to be right.

[Doug Schoen]

Well, I can't, I can't identify with that doctor, because I'm never wrong. But thanks for coming on in. We appreciate it. We'll check it out. It's good to see you again. Thank you.

[Unknown Advertiser]

This is the no Spin News weekend edition.

[Doug Schoen]

Okay. To the media, another not a victory for the press, but interesting story. As you know, Donald Trump despises the Associated Press. The ap, that's the wire that goes out to the smaller newspapers across the country and the world. And it's been very anti Trump. I have been on record as saying, look, I understand why the president goes after these media companies. I can tell you that since 1996, when I started the O'Reilly Factor on Fox News, the Associated Press has not said one nice thing about me. Not one. David Bouder is a TV writer, hates me. I never, I think I met him twice. But it was like every cheap shot they could take, they took. So I, you know, if I could ban the Associated Press, I probably would, but I'm not the president. So Anyway, Judge Trevor McFadden, appointed by Trump U.S. district Court in D.C. said, look to the White House, you just can't exile them. And his reasoning was a court simply holds that under the First Amendment, the government opens its doors to some journalists, be it in the Oval Office or elsewhere, cannot shut doors to other journalists because of their viewpoint. Okay, I think that's right. All right. You gotta have a bigger view that you don't like them now. They don't have to call on eap. They don't have to give them special treatment, but you can't banish them. Now, the judge did suspend that ruling for five days so another court can take a look at it. Joining us now is a guy who has a tremendous amount of experience in the media. Not as much as me, but nobody does because I'm very old. But Dan Abrams, you know him, was at NBC. He's still at ABC as a legal correspondent. He runs a website called Mediaite where they write about media every day. He was on News Nation until recently. The guy knows the media. So number one question is the media, the linear media, corporate media, losing power in America?

[Dan Abrams]

Absolutely. That's an easy one. The mainstream media, the media that you and I grew up on, has definitely lost influence. It's lost viewers, it's lost its power. It doesn't mean it's powerless. It's still influential, but just doesn't have anything like the sort of influence that. That it once had. And I think, by the way, I think that applies to the Associated Press as well. I mean, AP used to, you know. You know, this. AP used to be the thing, right? AP sends something out. It goes to everyone, everywhere, all over the world. Well, now everything goes to everyone all over the world.

[Doug Schoen]

That's right. Now, why. Why are they losing power so rapidly? I know there's more competition with the social media, but I believe it has to do with partisanship, that people. And all the surveys show this. They don't trust the media anymore. It's in business to preach to the choir, tell people what they want to hear. I think that's the main reason for the decline.

[Dan Abrams]

I think it's a combination. I think it is definitely the medium. It is the fact that people can get information elsewhere. They don't have to turn on and be.

[Doug Schoen]

Why wouldn't you turn it on if you liked it?

[Dan Abrams]

Yeah, you might, but you might.

[Doug Schoen]

You liked it, but, you know.

[Dan Abrams]

Right.

[Doug Schoen]

Mine.

[Dan Abrams]

But you might prefer to hear more of what you know you want to hear. On a daily basis. And I will say that the major loss for the mainstream media has been among conservatives. There is no doubt about that.

[Doug Schoen]

Well, wait a minute. There's two networks that are 100% conservative, Fox and Newsmax.

[Dan Abrams]

Yes, correct. And, and I think that they, the ABCs and CBS's and put aside cable for a moment, right. The broadcast networks, the places that everyone used to get their news from. The folks who are on the right will now very often go to someone like Bret Baier on Fox News to get that quote unquote newscast or they'll go to folks like you by the way, who are on their own independent, not beholden to a bigger entity and they'll say, you know What? I like O'Reilly. What does he have to say about this? I think people now have a lot more choices than they ever had before and I think that has made a huge difference in these guys used to be the gatekeepers. It was all about if you weren't, you know, you couldn't get someone to cover it. Ah, then the story faded. Now there's a whole host of opportunities and options to get someone to get a story your take whatever it is out there.

[Doug Schoen]

I think Trump destroyed the media and he did it passively, not actively. Obviously this AP thing was active. He doesn't like them, he doesn't like NBC in particular, those two. But by hating Trump as much as msnbc, NBC News, cnn, by hating him viscerally hating him to this day, to this moment, fair minded Americans, not ideologues, makes us uneasy. Am I wrong?

[Dan Abrams]

I think you're right. I think you're right. Look, I think there is, you know, people use the term Trump derangement syndrome, right? And you know, either people on the right use it and say it with a sort of a smile and a snicker and people on the left say, oh, there's no such thing. But the truth is there is such thing. There, there really is this sense on the part of some, they are so angry at Trump all the time that they, that they just can't do what they're supposed to do in a remotely objective way. Now I will say this in defense of some of the folks on the left is that Donald Trump has gone into this Trump 2, his second effort here and has definitely taken more extreme measures and positions than he did in Trump 1. And as a result, if you are someone who is object quoted, there's no such thing as objectivity, pure objectivity, let's call it. So you're somewhere right of center Left of center, right. And the guy who's in power is taking positions that are pretty extreme in a lot of ways. You're gonna, you're gonna be calling him out and as a result, you're gonna hear more criticism of Trump than you might of another Republican in that role. All right, the same way, by the way, if you had AOC or Elon Omar, and I'm not saying that they're out there.

[Doug Schoen]

No, it wouldn't be at the same level though. It wouldn't be at the same level.

[Dan Abrams]

I think that's fair. I think you're right.

[Doug Schoen]

It wouldn't be. A corporate media tried to re elect the Biden administration through Kamala Harris. They tried everything. That 60 Minutes thing is a legitimate thing. They tried to help her.

[Dan Abrams]

Oh, come on. Do you think that 60 Minutes, I saw that transcript.

[Doug Schoen]

I saw how they edited it and they did not have to edit it that way. They tried.

[Dan Abrams]

How do we know that they edited it? We know they edited it because they.

[Doug Schoen]

Put it, they admit they put it.

[Dan Abrams]

Out in two different forms. They had one, they put out the, they didn't have to. Oh yeah, what is a tease on Face the Nation? They put out the other on 60 Minutes. They were doing it because they just thought, oh, these are two, you know, different ways of getting the same thing.

[Doug Schoen]

How long did it take for 60 minutes to put that transcript out?

[Dan Abrams]

That was the mistake. The mistake was not released. But now that we've seen it. But now that we've seen it, it wasn't that big a deal. I've edited typical editing.

[Doug Schoen]

You and I have edited thousands of pieces. I never would have edited my piece that way in a million years.

[Dan Abrams]

I wouldn't, I didn't, I didn't find that editing to be that disturbing. I didn't find it to be disturbing at all.

[Doug Schoen]

But I think they absolutely. And then subsequently every week on 60 Minutes, they just bash Trump. Just bash him every week. That's true. Once that happens, and that's the top of the line. 60 minutes with Mike Wallace, Morley Safer, Don Hewitt, Top of the line. Once that happens, then regular folks go, eh, something wrong with it. Now I'm gonna be on your show tomorrow. Tell people where they can find that, cuz I'll do more talking there, which would be much better for everybody. Where, where can we find that?

[Dan Abrams]

You can find it on Sirius XM on the potus channel at 2:00, but also the video of it will be on the Mediaite YouTube page which we are now building out. And you know, part of the build out is to get Bill O'Reilly.

[Doug Schoen]

Yeah. We're doing the same.

[Dan Abrams]

I'm gonna say something about Bill O'Reilly. I said this to Bill O'Reilly privately. I said this to my team at News Nation privately. There is no one better at broadcasting in the business than, than Bill O'Reilly. I've said it to my team. I've. So this is no secret, but I believe it. And I'd be wondering when I was thinking about you talking about the ap, you were saying they've never said anything good about you. I did wonder what good they could have said about you. But you know. Yeah.

[Doug Schoen]

Well, they could have said what you just said.

[Dan Abrams]

Exactly.

[Doug Schoen]

But it's somehow they missed it. They missed it.

[Dan Abrams]

They missed it.

[Doug Schoen]

All right, Abrams.

[Dan Abrams]

It's a fact.

[Doug Schoen]

We'll rock and roll tomorrow. We appreciate you coming on tonight.

[Dan Abrams]

Look forward to it.

[Unknown Advertiser]

You're listening to the no Spa News WEEKEND edition.

[Doug Schoen]

Now I want you to know the truth. We have leverage over China. I believe a deal will get done between Xi and Trump. Not going to be easy, obviously, but they're going to meet face to face. I hope it's in June, I'm hearing in the Gulf. And then let's iron all of this out. We don't need a worldwide economic war. No one needs that. Everyone will get hurt. United States getting hurt now, folks are getting hurt. Now China, you'll never hear about them getting hurt. It'll be like Covid. So the Chinese government said, yeah, yeah, we had a couple of hundred cases of COVID but that's all. Meanwhile, about 100,000 people died. But you'll never get that. They'll never say it. So this is very intense right now. Very, very intense. I'm rooting for my country. I'm not rooting for Donald Trump or the Republican Party. I'm rooting for my country. The trade deals are not fair. Everyone, every honest person knows that they're not. Let's hope they get better for the USA and that we can de intensify all of this. That's the memo. Now let's bring in another point of view. Dr. Nicholas Lardy is a professor of international economics, very smart guy, much smarter than I am. That's why I wanted him on program. And where am I going wrong here?

[Dr. Nicholas Lardy]

Dr. Well, Bill, you're right. The US does have leverage, but China has some leverage as well. And it's not clear to me that we're going to necessarily win in this contest. China is in a position where if their Exports to the US Fall. They can offset that loss of demand by increasing their fiscal expenditure, loosening their monetary policy. It won't be perfect, but they can offset part of the loss of export revenue.

[Doug Schoen]

But that's short term. They can't do that long term. They got 1.5 billion people, and those factories start to turn down. Those people don't have 401ks, doctor. They don't have anything in the bank. That's communists. They live week to week.

[Dr. Nicholas Lardy]

They can do it for quite a while. On the other hand, the United States depends on China for some goods that we can't produce here and we can't source from other countries. So I think our adjustment may be a little bit more challenging.

[Doug Schoen]

Give me an example of some of those goods that we can't source from another country.

[Dr. Nicholas Lardy]

Rare earths is far and away the best example. China has almost a complete monopoly on the refining of rare earths, which are.

[Doug Schoen]

That's why Trump wants to deal with Greenland. Right.

[Dr. Nicholas Lardy]

It will be a decade before you get any rare earths out of Greenland.

[Doug Schoen]

Okay, but that's the reason, right?

[Dr. Nicholas Lardy]

That's part of it, certainly, yes.

[Doug Schoen]

All right. And let's get back.

[Dr. Nicholas Lardy]

Let me go back to what you said about 401ks. Another reason the Russia, the Chinese are not in such a tough position is their pension system does not depend on. On the stock market in China. In the US we see a lot of people panicking because their 401ks are going down in value. They're cutting back on their expenditure.

[Doug Schoen]

That's a given. I mean, there's no free investment in China at all, except for the oligarchs. But you said that they can sustain supporting their own population, again, 1.5 billion, for a while. You know. You know that the Chinese deficit, now, the deficit spending over there is at a record high. I mean, their whole yuan gonna collapse if they can't get out of this trade war with Trump. It's gonna collapse. Nobody's gonna want their money. You know that.

[Dr. Nicholas Lardy]

They have a. They have. Yes, you're right. They do have a current deficit. But their government debt compared to that of the United States is very small. They've got some headroom, but again, we.

[Doug Schoen]

Have an economic machine that generates trillions of dollars. They don't have that. They're dependent on selling stuff to us, to Southeast Asia and the eu. Believe me when I tell you, Doctor, that part of the deal that Trump's gonna make with the EU is, yeah, we're gonna cut back a little on your China Exports, Right. He goes, okay, that's what's gonna happen. You know.

[Dr. Nicholas Lardy]

Maybe, but all I'm saying is the leverage is not entirely on the US Side.

[Doug Schoen]

No, no, and I agree with that. It's dangerous, ultra dangerous. What about the war machine? Are you worried about the Chinese war machine?

[Dr. Nicholas Lardy]

Well, they're ramping up their military expenditures and it's been going on for a decade. Quite frankly, not very much of it is financed by the 6 or 700 billion we send to China. They have a, you know, their domestic economy is 12, 13 trillion. So a few hundred billion coming from the United States is not a decisive factor.

[Doug Schoen]

But if they want to buy tech and stuff like that, they got to buy with dollars. Yuan's not going to. People aren't going to sell them stuff for their currency. They can operate within their borders with that, but if they want to go out, they have to pay dollars.

[Dr. Nicholas Lardy]

They have a, an industrial complex that produces most of their military equipment. They're not buying a lot of sophisticated military equipment on the international market. They don't need dollars to build up their military strength.

[Doug Schoen]

No, I disagree with that 100% because I know what they're doing with Star wars and these drones up there and the space stuff and all of those high tech weapons. They're not self sufficient in that area.

[Dr. Nicholas Lardy]

They're a leader in drones. They're a leader in drones and then producing them domestically.

[Doug Schoen]

Yeah, but they need parts to produce it. They need all of that tech to produce it. Now, what about Apple? Apple is going to probably pull out of China. How badly is Apple going to hurt them?

[Dr. Nicholas Lardy]

Well, the question I would say is how bad is Apple going to be hurt by Trump's tariffs? Their market in the US Is going to collapse when the price of iPhones doubles or triples.

[Doug Schoen]

All right, I don't disagree with that. Apple's going to get hurt, but they're going to find a way to bring down their costs. It's a pretty genius company. So the scenario that you're portraying is that China has much more advantage and that Trump's foolish to go up against them and should have just left everything alone. Is that what you tell me?

[Dr. Nicholas Lardy]

No, I'm saying that Trump is overestimating his leverage. He certainly has some leverage. He may prevail in the end. I'm not forecasting that he's going to fail, but I think he's probably overestimating his leverage. It's a more uncertain outcome, I would say, than what you're portraying.

[Doug Schoen]

Do you think that Xi wants this Confrontation?

[Dr. Nicholas Lardy]

No, I don't think he does.

[Doug Schoen]

Do you think he's willing then to deal?

[Dr. Nicholas Lardy]

Well, his people have said they're willing to come to the negotiating table, but they're not going to do it if they have to make a whole lot of concessions as so they're going to.

[Doug Schoen]

Keep the unfair trade thing in place no matter what.

[Dr. Nicholas Lardy]

They will make some concessions in a balanced negotiation, but I don't think they're going to put themselves in the same position as the 70 some other countries that are begging for a deal they.

[Doug Schoen]

Don'T want even if the economy of China wobbles, because that's what Trump is.

[Dr. Nicholas Lardy]

Hoping for, that maybe, but their economy has slowed down quite a bit over the last decade and they're still carrying out.

[Doug Schoen]

But quality of life is not approved in our country very much.

[Dr. Nicholas Lardy]

Well, for most people in China, their incomes are two to three times what they were a decade ago.

[Doug Schoen]

Yeah, which was nothing a decade ago. Come on. You know what the incomes are. They live, they live week to week over there. I mean, this is what I mean. If those factories start to slow down, those people are laid off. Yeah, you're right. The Chinese government can pump in artificial stuff to keep it going for a little while. But I'll tell you what, they're messing around with that fuse there. Whereas the United States capacity to support its population of 330 million is vastly superior to China. Last word?

[Dr. Nicholas Lardy]

Well, I'm not a predictor, but we'll see how this plays out. I think China has a few more strengths than you're giving them credit for.

[Doug Schoen]

All right.

[Dr. Nicholas Lardy]

I'm not saying they'll prevail.

[Doug Schoen]

No, I know. We got it. You think I'm underestimating Trump's advantage here, and you may be right. We appreciate you coming in, Doctor. Thank you.

[Unknown Advertiser]

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