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Unknown Host 2
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Crystal Ball
20 more minutes to kill in the pharmacy before my prescription is ready. Maybe I'll grab some deeply discounted out of season Halloween candy. Hmm. I never had a chocolate pumpkin with raisins before. Those were raisins, right?
Unknown Host 3
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Emily
Good morning, everybody. Happy Friday. Emily and Ryan, great to see you guys.
Ryan
Great to see you. Crystal. Crystal. For those who didn't see the behind the scenes was Ryan's tech support this morning.
Crystal Ball
Yeah, it was pretty impressive and she nailed it.
Ryan
Geek Squad.
Emily
Yep, got it worked right out.
Crystal Ball
Fixed. Boom. Here we are.
Emily
Yeah, I'm a woman of many talents. What can I say? We've been calling these shows internally the. The mini show, but they're increasingly sort of not really mini shows. They're just shows because of so much stuff that's going on. But excited to get both of your reaction to Liberation Day and, you know, take your temperature as to how liberated you're feeling this Friday. Got a bunch of. A bunch of different stuff with regard to that, including new jobs numbers that just came out, which actually came out much stronger than expected. So that's kind of interesting. We also have a new poll, hypothetical poll. AOC versus Chuck Schumer. And for Senate, she's destroying him, which is really interesting. Major turnabout in terms of how the Democratic base is feeling. Ryan also flagged for us, there's huge protests planned for, you know, from the Democratic base across the country. Thousand different protests planned in, you know, nationwide locations. We've got a few national security advisors who were officially loomered that interesting developments there. And we're also really looking forward to speaking to one of the members of the legal team of that Maryland father who was wrongly deported to the El Salvador prison. So she's, she actually represented him in that 2019 hearing where the judge ruled that he cannot be deported to El Salvador. So she knows, should know all the ins and outs of like the gang accusations and what they were saying and what the reality was, how the family's doing all of that sort of stuff. So definitely looking forward to that huge show.
Ryan
Like to your point about not calling these mini shows, that's a lot, Crystal.
Emily
Yes, indeed. All right, so let's kick things off here. I guess we'll start with the latest on the jobs reports. Obviously, Trump has upended the entire global economy, so, you know, a lot to get to there. But we also had the jobs report come out this, this morning and it actually crushed expectations. 228,000 unemployment rate actually rose a little bit to 4.2%. Joe Eisenthal here saying the economists had expected 140,000 jobs unemployment of 4.1%. The reason that the unemployment rate actually ticked up is because you had more people, higher workforce participation. So sort of more people jumping into the market and trying to find a job. Any reflections on that, guys, just before we get into the latest Liberation Day.
Crystal Ball
Fallout, I mean, what the business press was saying is that this was sort of a, an interesting but meaningless round of numbers because people were going to say, you know, if it was terrible, they're going to say, oh, well, like one more reason to sell. So a terrible report would have been bad and like, would have been like another kind of another straw on this camel's broken back. Yeah, but, but a good report is discounted by the market because they're like, okay, well that was a good report in March. That was before Liberation Day and the fall of Western civilization because of the Wisconsin race, Wisconsin Supreme Court race. So we're now in a post Liberation Day, post Western civilization world. So the things that happened before that, you know, don't, don't actually matter. So it, it, it staves off a little additional extra sell off potentially. And, but that's about it. And it, you know, it bakes in some hopes among these folks that Trump is going to, you know, you know, things up so badly that the Fed will step in and. And, you know, lower interest rates a whole bunch of times between now and the end of the year.
Emily
Yeah.
Crystal Ball
And that. And that. That'll cushion some of the blows.
Emily
Yeah, well, and that's kind of one of the high IQ arguments for the tariffs is like, oh, this is all an effort to bring down interest rates so that also when the US has to roll all of this debt, that it will be at a lower interest rate. And so we need to, like, destroy the entire economy so that we can bring interest rates down is one of the sort of, like, high IQ versions of the Trump tariff thing. And it's 9:15 when we're recording this right now. This is what, you know, cnbc, you got the ticker up here of the futures, what they look like. You know, yesterday obviously was pretty bad in terms of the stock market, although, to be honest with you, I thought it could have been even worse given the, you know, the nature of the tariffs, which are just so astonishing and massive and obviously global and insane, in my opinion. And, you know, we'll really have just. I think it's impossible to really gauge exactly what all the fallout is ultimately going to be. But even with this jobs report now coming in higher than expected, obviously futures still significantly down. And, you know, China announced this morning, or last night or sometime before I woke up, that they were going to be retaliating with significant tariffs of their own and targeting a few key American businesses and industries in particular. So, you know, the theory is the markets are sort of reacting to that, and that's why they're down even more than they already were yesterday.
Ryan
Also, really sweet to see you and Kyle Dming.
Emily
A lot of that.
Crystal Ball
Yeah. And, you know, China's response to me suggests what a difficult spot the US Is in. Like, I would imagine that Xi and his advisors are almost paralyzed by the sheer number of different effective ways they have to screw us. And they have a unified system whereby they can come up with an idea and then they can execute on it. Whereas in the United States, we are literally having ChatGPT come up with our plan. So it's like ChatGPT versus, you know, she and his economists.
Emily
Yeah.
Crystal Ball
Who are coming up when she and his economists are sitting on massive piles of cash and the manufacturing capacity of the world and the knowledge of the supply chains, and they can, you know, largely kind of guide a lot of their companies. I've seen a lot of people say that Trump's actual scheme Here is he's going to destroy the American economy, drive the prices down to, you know, bottom barrel, and then he and his billionaire buddies are going to buy up everything. I don't, I don't think that's right at all. But I think what he might end up doing is knock the price of everything way down. And then she and his buddies come in with their companies and buy everything up that they, that, that they can get at a, you know, steep discount.
Emily
Yeah, well, that's important to note is, you know, recessions, most people lose, but not everybody loses. You know, out of the financial crash, there was a massive consolidation. Banks got bigger than ever. It really was the, the kickoff of permanent capital being such a massive player in terms of buying up housing and, you know, these giant conglomerates becoming basically like America's landlord. Out of the COVID crash, we all know that the, the tech barons really consolidated a lot of power. Bezos, Zuckerberg, Elon, they all came out of the COVID crash massively wealthier than before. And to your point about China, their markets are not down all that much. They take it a little bit, but nothing like what our markets are down, which tells you that investors are betting that they're actually going to be more or less okay out of this. And you can start to see in the specific retaliation that they picked, you know, it was not only, okay, well, we're going to hit you with the same level of tariff that you're hitting us. It was also we're going to block you from being able to import some of these rare earth minerals that are in, you know, all of our modern electronics and are really important. And that China has been, to your point, right, about the level of planning for years and years, you know, consolidating their control over some of those supply chains. So they are certainly not powerless, to say the least, Emily, in this situation.
Ryan
No, they, they aren't. And it's interesting because a lot of this. Well, actually, a lot of the, like Liberation Day predicate, I was going back and looking at how people on the right talked about targeted tariffs in the years leading up to Trump 2.0. And it was always through the lens of national security. Always like there were. That was of justification for protectionism that some of these think tanks, like the Heritage foundation had for a really long time cast as socialist economics. And they've been such staunch champions of quote, unquote, free trade. And as they were warming up to Trump and acquiescing to Trump's hostile takeover of the Republican Party, it Was, okay, targeted tariffs, you could do targeted near shoring with Canada and Mexico. But it's because of national security and the argument that national security is stronger. In these just like couple of weeks to come, we're going to get a lot more clues as to whether or not that's really the case. But a China that's not significantly hampered by this. That was the goal. I mean, that was an explicit national security ambition of tariffs that some of the people put forward before they joined the administration.
Emily
Well, and some of the push to move manufacturing into like Vietnam was also, you know, okay, you know, we're not near shoring to Mexico or bringing jobs back to the U.S. but this is a country that we have better relations with and we feel more comfortable manufacturing there. Vietnam just got hit with a gigantic tariff. So, you know, some of those prior efforts are also being completely undermined by this. You know, one of the things that's. Go ahead, Ryan.
Crystal Ball
And just one little point. China is retaliating against us. We're doing a trade war against the entire world.
Emily
That's right.
Crystal Ball
Which makes China's position so much easier, stronger.
Emily
Right. Like we're, we're doing a trade war against Lesotho and, you know, and that don't even have inhabitants, you know, some island that's largely like British and American.
Crystal Ball
Military and against people that might be able to help us in a trade war with China.
Emily
That's right. That's exactly right. And that was actually one of the points that like Nate Silver was making is are we really going to be negotiating with all 192 countries or whatever it is that we just tariffed? So yes, if it was a, I mean, I hate to just keep repeating myself, but if it was focused, if it's, you know, targeted a particular industry or even a particular country in terms of China, then you can imagine a plan that where we could come out on top, where there would be, there would always be minuses, potentially short term pain for sure, but there could be something that was worth it on the other side. You know, I'm someone who thinks that tariffs can be a useful and important tool in certain instances. But the incredibly, not just chaotic, but, you know, insane way that this is done across the board and using chat GPT and pretending like a trade deficit is the same as a tariff just makes it impossible to imagine how this is ultimately going to work out. And one of the things, and on.
Crystal Ball
That I think this might help people understand that because I see a lot of people being like, we're getting screwed by all These countries, it's like imagine California and Oregon, like they trade with each other. Now, there's no tariffs because they're united. You know, there's their states within the United States. But I promise you that people in Oregon buy a lot more stuff from California than people in California buy from Oregon. So it would be like looking at that situation and saying, oh, wow, like there's a giant tariff up that Oregon has on California.
Emily
Right?
Crystal Ball
It's like, no, no, Oregon just doesn't make that much stuff. California makes an enormous amount of stuff.
Emily
Right?
Crystal Ball
That's how, that's how trade works. Well, so maybe that will help people understand that it's not that they're setting up. Oregon is not screwing California in a slight.
Ryan
I mean, I don't want to call it a defense of the administration because we haven't seen anything yet but them telling Besant, well, Besant going out and saying, you know, these will be the higher end of the rate if you don't retaliate. And then the White House saying, that is not the talking point. Like there were, there are reports that the White House was saying that do not include anything about these being negotiating points. These are the final numbers in your talking points. It's hard to imagine the Treasury Secretary, especially with something as sensitive as, as markets being literally off the talking points. So, like 180 degree from what you're supposed to be saying on that. But I like some of these random, completely random tariffs. I wonder if they like, didn't take them seriously because they don't take them seriously. And if you are Lesotho or someone else, maybe Trump just wants to have it look like he was doing 80 deals and successfully negotiated with all of these different countries. So, but, but the, like we'll see. I have, I genuinely have no idea. I don't think anybody has any idea.
Emily
But the, I don't think Besson has any idea. I mean, he seemed like he was completely clueless and terrified in all of those interviews. They're like, so are you going to go to China and talk to him? He's like, nothing on the calendar.
Ryan
Yeah, it's an interesting idea, but that's the, the USMCA exemptions and what happens with that is pretty critical to what happens vis China, obviously. So, you know, if you're, you're going to be tariffing the hell out of Canada and Mexico in order to rebalance those relationships at the same time as you're trying to rebalance the relationship with China, the economic relationship with China for national security concerns, Then you have to look very differently at your relationship with Canada, Mexico, which Besson also said he got Caitlin Collins and said there are USMCA exemptions, but that's going to be renegotiated. So yeah, who the hell knows?
Emily
Yeah, well, and I said this in the show yesterday, but just to, to drill down on the point Ryan was making to help people understand like why a trade deficit is not the same as a tariff and does not necessarily represent a country screwing us. Arno Bertrand laid out the example of Lesotho. This is an incredibly poor country in Africa. They're actually part of a regional trading block that has uniform tariff policy. So in theory you would think, okay, well, South Africa and Lesotho part of this trading block have uniform tariff policies, so they should be getting hit with the same level of tariff. No, South Africa's is far lower. Why? Because we do actually import a significant for that country and a significant amount of mostly diamonds and other sort of like, you know, raw materials. And this is a poor country. So the people there, they don't have the money to buy things like iPhones and Teslas from our market. So does that mean that they're screwing us? No, it just means, you know, and it's not like we have a domestic diamond market that we need to, you know, protect engine up here. And that's the other part of this. One of the other parts of this that makes no actual economic sense is that there are certain things that we just literally can't produce here. We don't have diamond mines. That's just how it is, right? We cannot grow bananas outside of a few locations. We cannot grow coffee beans in outside of a few locations. Something like 50% of our fruits and vegetables come from other markets. And so when you're doing this across the board, not only across the board with countries, across the board with all of these different products, all you're doing is creating a massively regressive tax. And that's the other part of this that is wild, that I don't think people should just let go is the president has claimed for himself the single handed ability to completely upend our economy, the global economy. These are powers that are supposed to be in the hands of Congress. You know, they're supposed to be power. The person raising revenue that is supposed to go through Congress. And so, you know, Jeff Stein was pointing out, he was like, you know, most experts that I'm talking to are saying that they probably legally are going to go through because the courts have taken a very permissive attitude towards President's ability to declare national emergencies or national security situations or whatever and do what they want in the sphere of tariffs. But compare that to Biden's, like, comparatively piddling student loan debt relief that gets struck down by the courts, and you have a, you know, you just have a very remarkable situation. And I think it's also fair to say, like, and I believe that the tariff regime that Trump has announced is less about a particular economic outcome and more about him consolidating more control for himself. And that comes not only from the extraordinary nature of the tariffs. Largest tax Hike probably in U.S. history, highest level of tariffs since, you know, it is much higher even than the Smoot Hawley Tariff act, which vastly exacerbated the Great Depression. But not only from just like that exercise of power, but also now every company, every country in the world, every industry, they all have to go on bended knee to the dear Leader and beg and plead their case. Which is precisely why these powers were supposed to be with Congress. Because that, Ryan, is the way that a king operates. It's not supposed to be the way that a president ultimately operates.
Crystal Ball
Yeah, I think they, There's a chance they might end up taking the powers away from him if, if he abuses them too seriously and we see too much pain going around. I could.
Emily
Who's they? Congress or Congress?
Crystal Ball
Yeah, Congress. Because you saw they. They would need probably two thirds, a two thirds vote. Because obviously Trump.
Emily
Because otherwise he'd veto. Yeah.
Crystal Ball
Right. So, I mean, this is imagining a world in which, you know, we've seen not just, you know, 20, 30% come off the markets. You know, that's. Those. That's still the market. But you start seeing, you know, manufacturing plants close and like, auto. Automakers lay off workers. Stellantis, I think, just laid off a thousand people yesterday. So if you start seeing, like, significant manufacturing industry layoffs and it's cutting against his. The notion that he's bringing manufacturing back, then I. Then, then I don't know. I don't know if it. I don't know if there is anything that breaks the hold. Well, yeah.
Ryan
Oh, I was gonna say this is the benefit of what Crystal was just laying out. Trump consolidating. I mean, other presidents have used these powers, but Trump using them more boldly than anyone in recent memory. The benefit, from his perspective, is that he can then cut these deals immediately to back off and try to course correct. He can just call up the folks in Lesotho and say, like, you guys, you know, you're such great partners. We're taking this rate down. You know, he's able to like, operate on his whims, which is absolutely, for any president, terrifying amount of power. It should belong with Congress. It's an Article one power. But the presidential emergency declarations have, yeah, held up in courts to that point. So. But I think you're right. There's something that he enjoys about being the guy who gets to have the final decision on such a significant basis because he feels like he's course correct. I mean, this is Trump's like, deepest ideological commitment. He's generally more transactional than ideological, except for tariffs and immigration. And so this is, you know, whether he ultimately backs down from a significant tariff regime I think is unlikely. But he's able to, he probably thinks he'll be able to do carve out type deals with the sort of flick of a pen or the picking up of a phone.
Emily
Yeah.
Crystal Ball
And I've seen like Matt Stoller, for instance, has been out there saying like, you know, people on the left need to stop just sounding like CNBC or MSNBC and freaking out at this. Like, you have to understand, like Trump, a legitimate argument about the nature of global trade imbalances and the way that it is screwed up the middle class over the last 50 years and, and undermined our ability to produce anything. It, to an extent that, you know, when there was a pandemic, if we hadn't gotten the supply chains going, we wouldn't have had masks.
Emily
Right.
Crystal Ball
We could, we could, we could barely make like, you know, soap. You know, they, they couldn't, they couldn't make any of the PPE that we needed. Agree with that. But to me, you don't get points for your virtue and for your correct analysis if what you implement doesn't really have a chance of working. And the reason it doesn't have a chance of working is that we're still a capitalist system which allows capitalists to decide where they're going to invest their money. The state doesn't, maybe it should, but the state does not direct in any considerable amount of investment. And so if you're an investor right now, like on the one hand, okay, it looks like it's going to be cheaper to, relatively cheaper to, you know, sell things to American consumers. If I build them right here in America, is that going to be the case two weeks from now?
Ryan
Yeah, that's true.
Crystal Ball
I don't know. And if you don't know, do you drop a $1.5 billion investment in a Wisconsin factory? Well, Trump's point, like, the answer to that is. No, you don't. Unless you have some, some sense of stability long term.
Ryan
No, I think that's the flip side of the coin. And Trump would say the uncertainty is the only thing that gets them to do that, because they are. So then Trump is a maniac. The bet on Trump.
Crystal Ball
Well, Trump, like, it's going to take them longer to like, get the deal together than the. Then the policies will be in place. There'll be new policies in like, three days.
Emily
That's right.
Crystal Ball
And then. And then new ones after that and new ones after that.
Emily
Right. And no one would expect that. I mean, this should, in theory be Trump's last term in office. No one is going to think that the next president is going to continue with this particular tariff regime.
Crystal Ball
So you're just getting your factory online in like two years and now Trump's a lame duck. And like, that's the problem. Like, if you want to do this, go to Congress and do an industrial policy and buy in. Get buy in from the American people. And Democrats, like, Democrats, you want to build factories in the United States. Democrats, they're all they're going to ask for is, as you know, Barat talked about daycare in the factory and union wages.
Emily
Yeah.
Crystal Ball
Is that we could do. We could.
Emily
That's so bad.
Crystal Ball
Is that so bad?
Emily
You know, this also one of the things that bothers me about this tariff regime is that I actually do think it is going to negatively polarize many people against tariffs, period. And I think that is terrible. And it comes at a time when there was an increasing. There was a bipartisan consensus in favor of targeted industrial policy. And Trump could rightly take credit for helping to create that shift in public policy. I mean, tariffs and industrial policy were like, you know, seen as knuckle dragging kind of stuff in the neoliberal era. And Trump comes in, he does his China tariffs. I supported them, Ryan. I suspect you probably did as well.
Crystal Ball
Definitely. Yeah.
Emily
And then Biden keeps them largely in place. Expands.
Crystal Ball
Supported, too. Yeah.
Emily
But couples it with actual industrial policies. So in truth, Biden's version of it was much more successful than Trump's version. You can see that with the, you know, the chips and Trump's had some.
Crystal Ball
Positive impacts on manufacturing and. Yeah, yeah.
Ryan
And so I drove through the Foxconn campus.
Emily
Oh, boy.
Crystal Ball
That was Scott Walker.
Emily
Yeah, that was, that was a major l. But put it, let's put that aside. But, you know, there was this true bipartisan consensus in favor of targeted industrial policy. And more, More, vastly more needed to be done. But Trump seems to have this idea that if you just put in place this giant tariff regime, everything is going to magically happen after that. And Ryan, you're so correct that he is not factoring in to this, the fact that, number one, the rest of the world is going to get a say, and number two, that you're still relying on capital and trying to figure out their incentives. And from the best we can tell, like, their incentives are just going to be okay. We're just not going to do really anything for the next couple of years, see how this shakes out. I wouldn't be hiring. You know, I mean, even thinking about our little business, the way that we're going to be impacted by this, it's like, I'm not taking on big new risks right now because same at drop site.
Crystal Ball
At drop site because of people's, like, the subscription base and the donation base. Like, we could add a couple people right now, but. But we're not going to, because we're probably going to see a downturn.
Emily
That's exactly right.
Crystal Ball
And, and companies like, well, we're a nonprofit, but so organizations like ours and like, breaking points, you know, they get hit in a recession because if you lose your job, it's like, hey, I'd love to, you know, help you guys out. I support the journalism that you're doing, but I'm going to watch the free clips on YouTube and I'm going to read the free stuff.
Laura Loomer
Yeah, I got rights.
Crystal Ball
And I don't blame people at all.
Emily
I don't have family to feed. Not at all.
Crystal Ball
Obviously, if it's a choice between, you know, making your bills and this, like, this has got to go.
Ryan
I mean, I would choose my premium subscription over feeding children, but that's just.
Crystal Ball
Depends on the children.
Emily
Yeah. One of the things that's wild to me is, like, people are going to get hurt by this. You know, it's. It's a massive thing that Trump has just done, like, insanely massive. And is he in the, you know, the, the, like, economic situation room, crunching the numbers, seeing what the market reaction is, making deals, whatever? No, he's like, I think it's going well. And then he's off to play golf. Like, this is so what. I just, I cannot comprehend the mentality of someone who is so casual about doing something that is such a nuclear bomb around the world. I mean, so here, you know, Jake Sherman, President Trump, leaving today for Florida, where he will attend the live golf tour dinner at his Doral Country Club. Here he is yesterday getting asked about like, hey, the markets are completely the bed. Are you like, you good with this? Like, how are you feeling about this? Let's take a listen to what he has to say.
Unknown Host 3
The markets today are way down the worst day in here because of the stereotypes. So how's it going? I think it's going very well. It was an operation like when a patient gets operated on and it's a big thing. I said this was exactly.
Emily
So hey, they love this. It's, you know, an operation, it's a patient. The operation went well. But yeah, he thinks, he thinks it's going great.
Crystal Ball
And if I thought a few years from now this was going to turn around American manufacturing and production, like I'd be like, that's the coolest thing ever.
Ryan
Yeah.
Crystal Ball
Based like go for it. Like, yes. Like it's, it's gonna short term pain, long term gain. I just don't see the long term gain.
Emily
Well, we have a state. Sorry Emily, just really quickly is we also. I agree with that, Ryan. I absolutely agree with that. But we also can't be cavalier about. This is a massive regressive tax. Massive regressive tax. At the same time as it's not like, you know, when he did tariffs in his first term, farmers got hurt and they had a big program to reimburse them. There's none of it's, it's the total opposite of that at this point where you can't get a hold of somebody at Social Security so you can get your benefits there. Republicans widely expected to cut Medicaid. They're also widely expected to give out a giant tax cut. So the, you know, one of the theories, they're trying to get the deficit down and do these things. Well, no, they're about to blow up the deficit more than they ever have before. And so you're doing austerity at the same time that you're expecting people to be able to shoulder this massive regressive tax hike at a time when they already were. Inflation was the number one issue for people like prices. They already feel so stretched because prices have been high. And that's what he was elected on, was to deal with those prices. So while I agree if there was like, you know, okay, and we're gonna, it's really gonna re industrialize middle class jobs like bring back the heartland of America and people are gonna be able to, you know, have this like solid union middle class job the way things were, like, okay, that's worth exchanging some short term pain for. But you also have to help people to get through that period. And there's first of all, it's just short term pain and long term pain. And second of all, there is none of that policy happening to help people who are truly going to be hurt, whether it's regular ordinary people, businesses, et cetera, in the interim to get to that theoretical promised promised land.
Ryan
I mean, I think that the tax cut situation is going to be completely crazy, but maybe they, maybe they come up with something. I have no idea. It doesn't seem like it. Josh Hawley said he went to the White House yesterday and secured commitments from Trump not to touch Medicaid or Social Security again. We will see. There's a White House statement on does.
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Ryan
From the jobs report that says quote the economy is starting to roar with a strong 228,000 jobs out in the month of March, well ahead of the market's expectation. There was also a sharp increase in transportation, construction and warehousing employment. The president's push to onshore jobs here in the United States is working. The Golden Age of America is on its way.
Crystal Ball
Awesome.
Ryan
Good luck with that.
Emily
The Gilded Age is a golden age. Not so sure about that one. Gilded Age, definitely. And I mean, that is their model is that era. The Gilded Age is the era that he says he's modeling these policies to achieve.
Ryan
I think it gets to your point about the. Not just the optics, because it's beyond optics. It's this optimism from multi, multimillionaires and billionaires as markets are completely volatile and people are worried about their savings, they're worried about their month to month that I think politically is going to be incredibly difficult for the administration to continue pulling off.
Crystal Ball
Yeah, Yeah. I was talking to a friend last night who. The couple is a, a teacher and a federal worker. And they would, they've been doing a little, you know, house rehab, like a kitchen and a bedroom. And she said that she just went to order like the sink and the couch and stuff. And I was like, well, first of all, you guys are morons. Like Trump told you a month ago, Liberation Day was coming. Yeah, you should have ordered it your stuff. She's like, she went back and looked and like bunch of stuff was like already, already up, like 100 bucks, 200 bucks. Like the couch had not moved yet. It was the same price as before. So she like immediately like, you know, hit on that. Yeah, but like things are moving. Like people are. This is not all just the, the Dow jumping, jumping around like these price hikes are coming.
Emily
Yeah. You know what, respond to that a little bit, Ryan, because that's been the other. You brought up solar before. I've seen him and others being like, well, the stock market, you know, this isn't really an important economic metric, so stop obsessing over it. And by the way, what it's down to, like where it was in the fall or something, that's really no big deal. How do you look at that?
Crystal Ball
I think that's fine. Yeah, like, if you're doing big, long term, huge structural things that are going to benefit the real economy and you know, the, and Wall street has a, has a, you know, panic attack and, and takes off. Like, like Stoller said, there was this big, you know, drive up in, in prices after Trump won, because as Jeff Stein keeps pointing out, the Wall street does not have a Subscription to newspapers. Like, they don't actually, they don't actually read the Washington Post or like the other papers that have been telling them very clearly that this is what Trump's doing. They're like, no, Trump, he's not really going to do this, no way.
Ryan
So they are our guys.
Crystal Ball
So they artificially, you know, drove up the price of equities and now they're shaving that off. So like, that's fine. Like, I'm, I'm on board with that kind of broad solar critique to, to a degree. Like there is a level, there is a level of correction at which counterparties start getting affected and you, you start to see us, you know, a seize up in, in liquidity and ability of, of, you know, businesses to like, access capital. Like, it becomes a problem. But this kind of stuff, if it, if it's, if it's good for the patient, you know, fine, like, you know, run it, run a little fever, kill that, kill that virus. But it's your. This, this to me is the equivalent of like bleeding. Like the way that they used to bleed patients in this in like the 17th and 18th century.
Emily
That's what it's like.
Crystal Ball
Yeah, you probably, A little bit of bleeding is probably not gonna actually hurt you that much. And if it was actually going to make you better, then sure, go for it. But it wasn't like that. That was wrong. So this is the wrong bleeding. So. Yeah, okay, a little, little bit of bleeding you can survive. But also, why are you.
Emily
It was like they're getting out the, the bad, the bad stuff. The bad blood or the bad.
Crystal Ball
The blood was too hot maybe. I don't know. Yeah, yeah. And Washington had like four doctors and they all bled him and he died of losing too much blood. Yeah. So if you lose too much blood and the stock market loses too much blood, you know, it can, it can be a problem. But yeah, that's the real problem is. Yeah, actual prices for sinks are going up, like right now.
Emily
Right.
Crystal Ball
And when people's washing machines break, they need, they need a new one.
Emily
Well, Mark Cuban was out yesterday. Like, go to Costco, go to Sam's Club. Stock up, like whatever storage space you have buy, fill with whatever, you know, non perishable consumables. You can bet toilet paper is going to be disappearing from shelves at a store near you very shortly. But Emily, on the other hand, he does have fantastic spokespeople like Howard Lutnick who are making the case here. I mean, why would you say that?
Ryan
I just took a sip of Coffee. I spit it onto my laptop.
Emily
You know, and this is the other part of it is like the argument that I saw from the cable news heads yesterday was just basically like, trust Trump because he knows what he's doing. And that's certainly what, what Lutnick was saying yesterday. I've got a great Jeanine Pirro clip I could show as well. But let's go ahead and take a listen to Lutnick and how he was pitching this.
Unknown Host 3
Let Donald Trump run the global economy. He knows what he's doing. He's 35 years. You got to trust Donald Trump in the White House. That's why they put him there. Let him fix it.
Emily
I understand.
Unknown Host 3
Let him fix $36 trillion deficit. Right. Is going to ruin our children's lives and our grandchildren's lives. Let Donald Trump fix the American economy.
Ryan
Follow up with you.
Emily
So that's, you know, we're just supposed to put our, put our faith in the great leader. Howard Lutnick certainly has. There are others, many others who, who feel the same way, Emily, that you just, you know, just trust in Trump and he'll, he'll work it out.
Ryan
Okay. But that quote, let Donald Trump run the global economy is a completely insane thing to say. But in true Trumpian fashion, it really is saying the quiet part out loud and so proudly, too. I mean, American presidents wield the power basically to run the global economy, much to the chagrin of many people in the rest of the world. And he's just saying, like this a wonderful thing. Let the dear leader run the global economy. It's just an insane way to approach it, but it's really what we have. Right? Like this is given that Bessant is off of the Trump talking points on something so significant, it's like, I don't know that his closest advisors actually understand where he could take this, where he plans to take this. I think that is entirely intentional. And so the American people are left with the option of trusting Donald Trump. It's really their only talking point because we can all agree, like the three of us from the left and the right on what's happened and the need for probably some tariffs. Like, we can probably all get to the table and think that through and chips act and all of that. But this particular execution of bringing jobs back to the United States and rebalancing global trade, the only thing you can do because there's so much uncertainty and so much bizarre tactical maneuvering is just say, hope it all turns out okay. And that is going to wear very thin Very quickly politically for them. And it's also just like, as people are making decisions about kitchen renovations, kind of. It's kind of a fucked up thing to do to people.
Crystal Ball
And Trump had a revealing and related remark yesterday where he said the problem with the bringing on an income tax is that it made the American people fund the American government rather than foreign countries, which should be funding the American government. And you're like, okay, well, that analysis is, like, completely insane because, like, it's actually, you know, people eventually that pay the tariffs, but, but like, hold on record, scratch, reverse a second. You think that in an ideal world foreign countries are funding the American government. It's like, what?
Emily
Right?
Crystal Ball
What do you mean? Like, can you unpack that for us? Like, why, why would they fund us? Like, why don't they fund themselves?
Emily
Like, you touch on something important, though. I mean, because part of the alliance with Trump and capital, which is verily, very firmly entrenched this time around, it does go back to that, you know, McKinley Utopia that he keeps referencing and did on the campaign trail. You know, I went back during that time, like, brushed up on my McKinley history. Is not a guy that I like particularly studied all that much. And the whole reason that the income tax was introduced is so you could have a progressive tax so that rich people, so that capital could, you know, would be the ones who bore more of the burden of funding the government. That was the whole idea. But now our income tax is not all that progressive at this point. That's a whole other can of worms. But that's the idea. Tariffs are deeply regressive. So what in practice, this is not going to mean that foreign governments are funding our government for us. Thank you very much, China. Thank you very much, eu. Thank you very much, Canada or whatever. It's going to mean that more of the burden of funding our government falls on working class people. And less of it, even less of it than currently falls on the rich, is going to fall on the rich, which of course, consistent with the tax plan. And why you should never. When these people talk about how they have to get the deficit under control, you should never take them seriously so long as one of their main economic priorities is extending the Tax Cuts and Jobs act, which is a $4 trillion tax cut for the wealthy and is going to greatly exacerbate our debt and deficit. So, you know, like, how much of this Trump knows or how much his view of tariffs is just like this sort of like, kindergarten level. Because also some of the things that he. His priorities are direct at Odds with each other. Maintaining the dollar as the world reserve currency is directly at odds with eliminating the trade deficit because you need the world to need dollars. And so, you know, those things don't fit together. The idea that these are going to fund the government also doesn't make sense. If everything's being reassured, then you're not going to be getting tariff revenue. Right. That you get this back and forth of. Oh, he's just a great negotiator. And these are just a starting point. Actually. The direction is to bring all tariffs to zero. That's some of the co from the like, you know, the chamber type Republicans is this is actually a tool. Yes, zero. You know, and it's like, well, if you wanted that, you should have just done tp TPP back in the day, you know, they were on a track with a bunch of Asian Pacific countries to go exactly in that direction. And then, you know, Trump is out there. No, no, no. This is the final offer. So all of it is very confused, which is why for me, the easiest lens to view it through is the same lens as the attacks on universities, attacks on the media, the attacks on the law firms, the attacks on free speech, the attacks on protesters, which is a power consolidation play. He is a CEO. He is used to making every decision and everyone jumping to his beck and call. And that is the way that autocratic CEO dictatorial style, that is how he wants things to be. And increasingly he is accomplishing that.
Crystal Ball
I think if the President could move tax rates unilaterally but had to go to Congress for tariffs, he'd be out here moving tax rates up and down like once a week.
Ryan
Don't give people ideas you can declare some type of emergency.
Crystal Ball
The historical irony, by the way, to pick up on your McKinley point. McKinley was in a long running war with the prairie populist movement and one of their main things that they hated was tariffs because it drove up their costs. Right. And it killed them.
Emily
Yeah.
Crystal Ball
Well, so that our new populace is embodying McKinley.
Emily
Right.
Crystal Ball
The enemy of the old populists is amazing.
Emily
Yeah, completely. And actually when McKinley was assassinated, he was giving a speech announcing that he was rolling back done with them. Yes. Because the world needed to train, we needed to move forward. And that was an old economic model. So even McKinley at the end realized the error of some of.
Crystal Ball
Trump is with the shooter there. I guess, you know, it was antifa.
Emily
We're taking this actual anarchist.
Crystal Ball
Actual antifa.
Emily
Yes. So we've all been following the story. Trump administration admitted this week that they made a, quote, administrative error and deported a Maryland father to that El Salvador prison. In spite of the fact that a judge had ruled he could not be deported to El Salvador. The administration, in spite of admitting this administrative error, has still maintained that, you know, he should have been deported. They also have maintained that there is nothing at this point that the courts can do to bring him back, even though they acknowledge this error. So we're very lucky to be joined this morning by part of the legal team for this man. His name is Kilmar Abrego Garcia, and her name is Lucia Curiel, and she represented him in a 2019 hearing where the judge originally ordered said he cannot be deported to El Salvador. And that, of course, is exactly where he is now. Welcome. So glad to have you.
Laura Loomer
Yes, thank you.
Emily
So, first of all, did I get all of the pieces there? Right? And can you just give us the timeline of his entrance into the country and, you know, his interactions with the legal system and especially address the allegations that he has been a gang member, or in the words of, I think, Caroline Levitt, the White House press secretary, a MS.13, gang leader.
Laura Loomer
Yes. So he, you know, he was born in El Salvador. He fled the country when he was around 16 years old, entered the United States illegally around 2011, and had been living in the United States, in Maryland until then, until about 2019 was his first kind of contact with the law enforcement. He was at a Home Depot soliciting employment with three other men, two of which he had interacted with only in that context of soliciting employment at a Home Depot. It turns out one of them, at least unbeknownst to him, did actually have gang affiliation and had actually been convicted previously of gang participation in. In Maryland. So he. But he was. He didn't know that, you know, he didn't really know this guy. They were just standing there chatting, trying to find work, when a police officer from the Hyattsville Police Department approaches the group. They talk to this one man that did have this known gang affiliation. Two of the men also allegedly kind of dropped something, took something out of their waistband and dropped it to the floor, some kind of plastic bottles that were later confirmed to contain marijuana. This was not Kilmar. This was some of the other two. And then this officer calls her backup and arrests all four of them. They don't tell. They don't talk to Kilmar at all. They don't tell him why he's being arrested, but they take all four of them to the police station and begin to interview all four of them. And just at the outset, the only thing they interview him about is his gang affiliation. They begin to say, okay, tell us what gang you're a part of. You know, what's your, your rank in the gang? You know, what's your, what's your name in the gang? And he's, he's just totally befuddled. You know, I don't know what you're talking about. I have absolutely no connection to gang in this case. They're talking about ms.13. They don't believe him. And the next thing he knows, an ICE officer is there to pick him up and take him to ICE detention center. This whole interaction is quite brief. So from the. There's only one document that kind of documents this whole interaction. It's a gang field interview sheet and it's the only single source of these supposedly gang allegations. The gangfield interview sheet, it all says that the officer approached the group at 2:27pm and the gang field interview sheet is entered into the system at 6:47pm so that means, you know, from the time that they apprehend the group, they then, you know, call for backup, arrest everyone, transport, interview, everything you know, and then, you know, write up the report, enter into the system is about 4 hours and 20 minutes. And in that time they have come to, you know, that thorough. After that very thorough, thorough investigation, they've concluded that he's an MS.13 gang member. And in the gang field interview sheet it says that the basis for that is that because he was wearing at the time a Chicago Bulls hat, which they say is. Officers know such clothing to be indicative of Hispanic gang culture. The Chicago wearing the Chicago Bulls hat represents that they are a member in good standing with the MS.13. And they also say that a hoodie that he was wearing which his wife had bought him and ordered off the Internet is also indicative of this Hispanic gang culture. And they know that it represents see no evil, hear no evil and say no evil, which is sort of one of the slogans of MS.13. And the final piece, proven reliable source that they, they say they contact.
Crystal Ball
Yeah, can you talk about that? This, this alleged confidential informant?
Laura Loomer
Yeah. All they say is that they contacted a past proven reliable source of information that said that he was a member of the Westerns. Click. They don't say any information it there and that's all. It doesn't say who this person is, what they said, their reason to fabricate. For all we know, you know, it could have been one of the people that, you know, was seen kind of throwing out some containers with marijuana because from what we saw, those people were never charged with any crime.
Emily
You know, let me, let me get you to respond a little bit to the vice president who has been very vocal on this case. So here he is sort of punching back, I guess, at Kyle Cheney, who's the legal affairs reporter at Politico. And he says he is apparently unable or unwilling to look at the facts here. In 2019, an immigration judge under the first Trump administration determined the deported man was in fact a member of the MS.13 gang. He also apparently had multiple traffic violations for which he failed to appear in court. A real winner. It's telling that the entire American media is going to run a propaganda operation today making you think an innocent father of three was apprehended by a gulag. Here are the relevant facts. Number one, the man is an illegal immigrant with no right to be in our country. Number two, an immigration judge determined he was a member of the MS.13 gang. Number three, because he is not a citizen, he does not get a full jury trial by peers. In other words, whatever due process he was entitled to, he received. What is, what's your response to the framing and the facts also that the vice President puts out?
Laura Loomer
Yes, all three of those are incorrect. The judge in the case that was actually very heavily litigated, which was his final hearing where the judge granted him withholding, that was a case that actually took place over two days, which is heavily unusual at immigration court. Those cases often last, you know, one to maybe three hours. This case lasted over two days. And you'll see that, I mean, the, the, the court decision granting him withholding is in the court court documents. And I think two things are notable there. One, that the gang allegations don't really even appear in there. So I think it's, it's just a testament to how the little weight the judge even gave them because they were, he was questioned very, very, very, very heavily about this. And in advance of that, we did also file a subpoena asking for the officers to appear and also asking for the government to produce any evidence substantiating the allegations. The government opposed that. They said that they had spoken to law enforcement partners and they had nothing else to offer. So the, again, the only single piece of evidence was this gain field interview sheet that some, some guy, basically no information about who that guy was, reason to fabricate why he was credible. I mean, it's kind of known in general, confidential informants are unreliable. And you know, what he said also doesn't really make sense. They said he was a member of clique in New York. But also number two, is he.
Crystal Ball
That's a pretty key point. Is it New York?
Laura Loomer
Yes. This westerns clique, as far as I've.
Crystal Ball
Seen, spent much time in New York.
Laura Loomer
No, he's never lived in New York. Yeah, he's only ever lived in Maryland.
Crystal Ball
Does Ms. 13 have remote work back in 2019?
Laura Loomer
No. I mean that's probably more of a.
Crystal Ball
That's an in office kind of.
Laura Loomer
Yeah, yeah, it's a day to day, you know you have, you have to be. Yeah.
Crystal Ball
It's not, not very liberal on the work from home in Ms. 13.
Laura Loomer
Yeah. But also number two in that decision you'll see that he finds him credible. Meaning he believed him and what he said not only about what happened to him in the past in El Salvador, which you know, gave him the basis to grant him humanitarian relief in the form of withholding removal, but that he believed him when he just vehemently denied being a member of Ms. 13.
Ryan
Can we talk about the decision in 2019 which I mentioned you were involved with to claim asylum after many years in the country? Because some critics, and I don't know if the vice president posted about this but would look at that and say immediately, huh, this seems like a sort of tactic to bolster the case. But I know that he claims, and you've claimed there were credible reasons to fear 18th street gang, purpose of business. Could you take us through that decision a little bit?
Laura Loomer
Yeah. I mean the legal standards are if you've suffered past persecution in the past in your home country, then that gives you a presumption, a future persecution in the future. And he had suffered past persecution. He had, he and his family had been through a lot by this, this gang in the past. His, his father I think had been attacked about 18 times, had been held up at gunpoint, the car robbed. He himself, they for many, many, many years were really like terrorizing him. On two occasions they like showed up at the family's home like fully armed, kind of if you do not give us money right now, we are ready to take your son from you, essentially kidnap him. And his brother had also been like beaten, you know, lost consciousness from, from many beatings. They had threatened to rape his sisters. The family had gone through. They had moved three times to three different neighborhoods and the threats persisted. So this wasn't sort of just a one time, hey, we want money. If you don't, you know, we'll hurt you if you don't give us money. This was like a sustained over basically his. His, you know, since he was like an adolescent until he left El Salvador.
Emily
Yeah.
Crystal Ball
And the criticism. Oh, no, the criticism I saw was that why didn't he apply in 2011 for this? Like, why did he wait until he's picked up at the Home Depot?
Laura Loomer
Yeah, I mean, I think that's. He could have. If he probably. If he knew he could have. He probably. And had legal counsel. You know, I certainly would have told him. If I had heard his story and he had access to legal counsel, I would have told him, you know, apply right now, and then he would have. He would have had a very strong case and probably would have been granted asylum instead of withholding a removal.
Emily
Lucia, to get back to. I think the core piece here, which I think can sometimes get lost in these details. Not that these details aren't also important, but everybody involved admits this was a mistake. Right. The administration admitted in court they made what they describe as an administrative error. And now Kilmar is in this prison in El Salvador indefinitely, a prison that is known for human rights abuses. You know, the. The whole point of sending them there seems to have been to send a message about, you know, exactly what sort of punishment will befall you. So everybody acknowledges this was a mistake. He should not have been removed to El Salvador, period. What happens now? What is the next. I understand there's a hearing at. At 1pm today. What do you think will happen there and what sort of remedies do you believe are available? Because I, I was. You know, administrations in the past have taken extraordinary measures to try to return people who were deported unlawfully or a mistake was made, but they may not be under an obligation to do so. So what. What are sort of the legal contours of that fight coming up?
Laura Loomer
Yeah, I mean, this. This is really is pretty unprecedented. Yes. As you stated, usually when in the past government does see that somebody was deported erroneously, and they see that, they do take steps to. To correct that, because, you know, a government makes a mistake, they should correct that. But here they're. They're refusing to do so, even though the consequences here are much more drastic than him. Just like being deported El Salvador and being able to just live a free life. He is now. Yeah. As you said, in a torture prison where he is. He, you know, he doesn't even know. His name's all over the news right now. You know, he is.
Emily
So you. You and his family have no ability.
Laura Loomer
Nobody is able to even contact him. There's no access even to lawyers in there. They can't even receive letters. They're, they are cut off from the world. So he is alone in there and has absolutely no idea that, you know, he's making national news that people are fighting for him. And he, you know, I'm sure he's very scared and he might be there forever. And so we're fighting to get him out of there. It's true that of course the court here can't tell El Salvador what to do. But what we're asking is pretty simple. We're telling, we're asking for the court to just order the government to stop paying El Salvador to keep him there and to just simply request for him to be released from there. And there really is no reason to doubt that El Salvador, which is a huge ally of the United States, would not, you know, do what the United States asks, but they're unwilling to do that.
Crystal Ball
What's his, what's his family situation? He still live in Hyattsville. Like kids, wife, like, what's his.
Laura Loomer
Yeah, he has a US Citizen wife. He has a one biological child and that was actually, he actually missed the birth of his son while he was detained. And in 2019. 2019, that child, you know, potentially because of the stress of, on the wife of, of her son, of her husband being detained on knowing what would happen to him. Son was born with autism. He's non verbal, he can't communicate. He, I believe is deaf in one ear and has severe developmental delays. And then he also has two stepchildren that he's. They, they. For all they. He's his, their father. Right? They, the biological father is not in the picture. One of the other kids also has some special needs and the other daughter has epilepsy and I believe had like an episode recently.
Emily
Lucia, my last question for you. If Emily or Ryan have any others, they can, they can feel free to, to jump in as well. But let's say that the court tells the Trump administration, you have to try to get him back. And the Trump administration actually complies and goes to Bukele, says, hey, we, we screwed up on this one. We want this guy back and he's brought back. What do you expect happens then? Because my understanding of his legal status is he could be deported somewhere else, just specifically not El Salvador. So if things work out and he is able to be brought back to the country, what do you think is the best case scenario for him then going forward?
Laura Loomer
Yeah, there it is possible for him to be deported somewhere else. There are procedures to follow though, to do that. It's also possible, you know, if they want, they might want to reopen his proceedings, which is what they would have had to do have done if they did want to.
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Laura Loomer
Deport him to El Salvador. In order to do that right, they can do a motion to reopen and to prove that, you know, either the that he no longer meets the requirements for withholding and in that case, you know, if that happens, you know, a new defense, deportation can be presented or you know, they could decide to do not do nothing, right, and just let him live with the status that he, he's he has because he, you know, he has a legal status. Here he is. Since he was granted withholding of removal in 2019, he has been in the United States legally.
Emily
Gotcha. Well, thank you so much for helping to break down all of these details because I think it, you know, really helps people to understand the ins and outs of the system and also the, you know, the. The horror of what has happened here with Kilmar and. And with his family. Lucien, thank you so much for your time.
Laura Loomer
Thank you very much.
Emily
Yeah, it's our pleasure. Pretty extraordinary getting to speak with Kilmar's lawyer and get all the details there. You guys have any. Any reflections before we move on to some. Some sort of political news here?
Ryan
It's one of those. Those interviews that we do sometimes, and we both, like, from both sides, we've all had this experience on our show. It's what makes our show cool. But for me, it's sort of like I have such a fundamental disagreement with the entire process that I was, like, really eager to hear her walk through the steps and how this happened, especially the 2019 thing. But, you know, she. It's. It's her job. She's doing her job. So it was. I thought it was. It was pretty interesting.
Crystal Ball
And, yeah, it's just appalling that he's in a torture chamber.
Emily
Yeah, yeah.
Crystal Ball
For what?
Emily
Like, if you want to go through the court system and you want to deport him whether to El Salvador, I mean, she says, look, you can reopen the case and say, hey, this particular gang, the Kelly dealt with him, he could go back. The pupusa business would be fine. You can do that.
Ryan
Yeah.
Emily
But you cannot just send him with no due process to a. Specifically to a country where a judge has said, you cannot send him. And then for all of these people, why are they being put in this torture chamber?
Ryan
No, I agree with that.
Crystal Ball
Like the, like the malnutrition, like the, the treatment in that prison for a guy who, since he's 16 years old, is probably, you know, worked, works harder every day than I do in, like, weeks. And for that and raising these, his step kids and his. And his kid who's got. Who's got special needs to do that for your full life. And then the reward is to get sent to a dungeon where you're tortured and malnourished. For what? Like, it's evil. It's evil.
Emily
It is evil. And especially since the administration's position is like, yeah, we up. No, we're not going to do anything about it. He just asked a rot. Like, we're not even going to ask Bukele when you just had Kristi Dom down there. Like, you know, you can get into the prison, you know, and then you.
Crystal Ball
Want to deport him.
Emily
Deport him, like, right, exactly. You don't think that Bukele would be like, sure if you were like, well, we screwed up with this one, we need to get this one back. But the, the thing is it, it reminds me. I don't want to say that it's exactly analogous situation or anything, but it reminds me of the same incentives that Bibi has to not return some of the hostages. Because when some of the hostages came back, they said, actually we were afraid for our lives from the IDF bombing. And when I saw that, I knew. Well, I mean, he had been indicating from the beginning like his priority was really not getting the hostages back, in spite of what he was saying. But it's the same thing here. You know, it's one thing to know about this man, theoretically, read an article about him, know he's a father, etc. It's another thing if he can actually tell you, like, this is what happened. This is what I went through. This is what that place is actually.
Crystal Ball
Right. They don't want him on 60 Minutes.
Ryan
Yeah, yeah, that's true.
Emily
That's exactly right.
Ryan
I mean. Yeah, I was just.
Emily
Go ahead, Emily.
Ryan
No, it's all good.
Emily
Okay.
Ryan
I was going to get back into the whole asylum process thing. We don't need to go there.
Emily
Well, I'm sure we will on another day, so we'll just put a pin in that for now. Wanted to get in some political news here because this was pretty extraordinary indication of how much the Democratic base has shifted in Trump 2.0. So data for Progress, admittedly a progressive polling firm, but they put a hypothetical matchup between AOC and Chuck Schumer for Senate in the field. And what they got back, pretty astonishing here. AOC winning handily, 55% to 36% for Schumer and Ryan. I mean, I'm, I'm really excited, excited to get your thoughts on this because it truly is a shift for the Democratic base. You know, it's this idea of AOC challenging Schumer in particular, or I guess potentially Kirsten Gillibrand, that has been around for a while, but I think even people like you and I were probably like, I don't know if she could actually win statewide. New York, like, it's a different deal. And she has, has had more of this, like, niche progressive appeal. Her district makes sense, obviously, but can she actually win statewide, let alone, you know, national ambitions? And because of the incredible contrast between the way she has taken the fight to the Trump administration versus how Schumer has been the emblem of laying down and playing dead, the Democratic base feeling very differently about this matchup going forward.
Crystal Ball
And for the same reason that some on the left have gotten upset with her for being more of a Democratic team player. Normie Democrats have warmed up to her because she is more of a, a team player with, with the Democratic Party. And this, that, that book right there at the end of it, it finishes not spoiler with a poll in New Hampshire where I think the Democratic primary voters in New Hampshire, you know, had the highest favorability rating for her. Like I think it might have been Bernie actually might have been number one or something or maybe she was even ahead of Bernie.
Emily
You can, I think Bernie usually comes in number one in these things, but.
Crystal Ball
In particularly among New Hampshire primary voters. So the, the question was could she, you know, beat Schumer with upstate New York? You know, it's a combination of suburban and rural Democrats. And I think right now Schumer's at his, I mean maybe he has further low to go, but like he's at it is he's at a lower after, you know, just his complete capitulation. So a lot of the, a lot of the lead you're seeing there is, is probably more anti Schumer nessus than necessarily pro AOC but it shows that there's a majority of Democrats in New York are willing to say yeah, yeah, AOC fine, let's, let's, let's give that a shot.
Emily
And Emily, I think it's not just, first of all, I don't think it is just anti shoe. AOC is such a big name. Like she comes with a whole, people have a feeling about her. Right. And I also don't think it's just that she decided tactically to take this approach of I'm not going to be the outsider bomb thrower. I'm going to play the inside game. But it's, it's, it's not only that that has made Norman Democrats more comfortable with her, it's also the fact that Normie Democrats fighting are becoming more comfortable with a bomb thrower and they want, I mean what they're disgusted with the Democratic leadership over is you aren't being aggressive enough. So AOC has been critical of, you know, Schumer and others, for example, and that's exactly actually what they want to see at this point. And that's what is really a very different dynamic with your average normie Democrat versus certainly back in, you know, 2017.
Crystal Ball
Yes.
Ryan
And the reason this is so dangerous for Chuck Schumer and this is why he knows it this is why the Democratic establishment has tried to co opt people like AOC and squash any sort of hint of dissent from leadership is that so many voters make a lesser of two evils calculation, especially in primaries. And so if they start to see Chuck Schumer as the greater of the two evils, maybe they're not culture warriors. And you can drag up things AOC may have said about the police or ICE or something like that back in 2020, and I think those things will genuinely be harmful to her odds in the, like upstate if she decides to run. But if, if they look at Chuck Schumer and say, this guy is just a simp, he's not doing anything, sometimes people will side with the culture warriors over the people like Chuck Schumer, especially if AOC sounds more like the version of her who unseated what's his name, Joe Crowley. Yeah. In the first place. I love that his name has just fallen away from our consciousness.
Emily
But Ryan and I haven't forgotten, can't forget.
Ryan
But, but it is really like this is what happened with the Tea Party. We talk about this like every week now. But the similarities are absolutely true. It's what happened with Donald Trump. Most Republican primary voters did not choose Donald Trump, and that's why there was some, you know, conversation about whether he would actually win the Republican primary in 2024. But they continued to see Trump as a lesser of two evils against the establishment. Even though people get exhausted with all of the posting and they don't like the way that he talks, they don't, you know, necessarily love his history with women. It just gets down to a lesser of two evils calculation. And Chuck Schumer is being dangerously, is flirting dangerously with being put in the greater of two evils camp. And, and that's really what could end up undoing him.
Emily
And he's not up for another four years. So to Ryan's point, like, this could be his low and he's able to get it back together. But Ryan, I mean, what do you, how are you feeling about the aoc, like potential national prospects? Because I was pretty skeptical. I'm still somewhat skeptical because I think Emily's right. I mean, she, she did do a lot of the, you know, the Latinx and birthing person. Like, she did do too much of that kind of academic language that doesn't land with normal people. But her messaging lately has been fantastic. You know, she's been on the Stop Oligarchy tour with Bernie. She's been on the, like bread and butter like class war messaging that I personally think is, you know, the most political politically, most both correct and also politically effective. And also she has won over a lot of the Democratic base. I think she's, you know, she's grown in a lot of ways. So I am more open to her as an effective national candidate than I was previously. Where are you on that question?
Crystal Ball
I think she's in the ball game for sure.
Emily
Yeah.
Crystal Ball
The. The. The virtue that Bernie had is that even people who didn't agree with him would say, you know, he's. He believes what he says. He's been saying the same thing, you know, for 50 years. And you can find clips of him saying it 50 years ago.
Emily
Yeah.
Crystal Ball
Like, verbatim. And so AOC will have the difficulty of, like, hey, why aren't you saying Latinx anymore? Like, what happened to your pronouns?
Ryan
Oh, and Chuck Schumer will go there.
Crystal Ball
Or she'll stick with. With.
Emily
Yeah.
Crystal Ball
Any of her opponents or the media will. Or she'll stick with Latinx and stick with pronouns. And, you know, so anytime she, you know, you know, tries to move beyond that era, she's going to get pulled back by it. And. And will, I think, will feel like she's being asked to throw some constituency under the bus and isn't going to want to do that.
Emily
Right.
Crystal Ball
But then are you going to get wrapped up in the axle of some, you know, silly policy as a result of that? And so she still has the kind of thorns of. She's kind of. She's kind of tangled up in it, and it's going to be difficult, I think, to untangle.
Emily
I think it would, honestly. I don't know, but, I mean, I think it's honestly better to just own it and lean into it than to be like, who me? Latinx? Especially when you're aoc, Devin Newsom, Kamala Harris. Right. Yeah. You know, just find a.
Crystal Ball
Find a way of messaging it a little bit more, a little bit better. She's. She's a great messenger. She could maybe find a way. Yeah. Give up on Latinx. I mean, maybe that's the. Maybe that's your sister soldier.
Emily
Because nobody.
Crystal Ball
No. Nobody will actually care about that.
Emily
Yeah. I mean, you could. You could see her saying, like, I find it interesting that you care more about a particular word that I use than the fact that the working class is getting screwed by Donald Trump and the billionaire. You know, like. Like, you can. Yes.
Crystal Ball
Right.
Emily
Yeah, you can throw.
Crystal Ball
There were some communities, like, there were some communities telling me that they wanted that term. They don't want it anymore. Fine.
Emily
Fine. Yeah, totally related to this. Ryan, you actually, this was not actually particularly on my radar, but these protests that are coming up this weekend appear to be quite large. Saturday, nationwide hands off anti Trump protests. You see the map here, Ryan. It's pretty extraordinarily broad movement. You said you knew, you knew someone who was going to the, one of the Villages.
Crystal Ball
Yeah, my dad, my dad is on the Villages right now. He says he's a Pennsylvania snowbird. He goes down to the Villages in the winter.
Ryan
So it says always on the Villages beat.
Emily
It says more than 1100 rallies. They've had nearly 250,000 RSVPs. That was as of March 29th, so I'm sure they have even more by now. So what's the particular messaging here? Is it just, just kind of everything or is there a particular focus?
Crystal Ball
It's, it's like anti Doge Doge, anti Doggy, hands off Social Security, hands off Medicare and Medicaid. Stop destroying the government. Make things better, not worse. So it's kind of a broad resistance to what Musk and Trump are doing kind of rallies. But yeah, I think you'll, you're going to see, I think, you know, huge numbers of people I think are going to, are going to turn out for this. There are buses coming to Washington D.C. so, you know, could be, could be sizable here. But even for, you know, if wherever you are watching this, there's probably a hands off rally, you know, fairly close. I asked my dad, I was like, is it a Tesla dealership? He said, no, it's at a, it's a parking lot. Which is, which sounds very, sounds very Villages. But yeah, if the Villages is able to bring out, you know, hundreds or even thousands of people, which is, this is famously a Republican leaning, you know, retirement community in Florida.
Emily
I think part of the Villages. It was in one of these Florida districts that was up last week, right?
Crystal Ball
Yeah, there were Randy Fine, which, which my dad was saying, no, like, like nobody down there likes the guy, including all the Republicans. DeSantis was just ripping him. I saw that yesterday. He's a pretty, it seems like a pretty despicable dude and kind of an arrogant guy who was like angered a lot of people with, with a real haughty attitude on whatever commission he was elected to serve before this. But you know, when Republicans, you know, win Those races by 30, 40 points, it's going to be hard to lose. And yeah, he ended up losing to this like a middle school teacher. Josh wheel by like 10 points or something. Like that. I mean, being a middle school teacher.
Emily
DeSantis said something like, you know, they wanted me to put this guy on the Florida Atlantic board. I tried to get rid of him, and they didn't want him. It was pretty.
Crystal Ball
Yeah.
Ryan
Nobody likes Ron DeSantis. You know what Ron DeSantis is like. This guy is unlikable.
Crystal Ball
Yeah. I don't say that in a partisan way. Like, people just do. Not like this.
Emily
No.
Unknown Host 1
Yeah.
Emily
Well, for good reason. When you see the horrific, like, monstrous things he says about kids getting slaughtered in. In Gaza. The. The thing that I think is important about these protests, Emily, is it does come at a moment when Democratic electeds have kind of realized, like, all right, we gotta. We gotta up our game. Right? That's what Cory Booker holding the floor that represents them realizing, like, okay, we're. We're not meeting, but we gotta do something. Something. Right? And or else there is going to be a Tea Party with, you know, pitchforks coming for us. And you also had these election results that Democrats are taking a lot of hard in. Obviously, you were in Wisconsin. The liberal there wins by double digits. They made huge, you know, 50, 15 and 20 point made up ground in those two Florida seats. So there's a little bit of mojo reentering the Democratic Party. And then these protests come in, and it's another, you know, visible demonstration of, okay, we, the base of the Democratic Party is fired up, like they are ready to, you know, they are ready to go to war. They are ready to go in whatever direction they think makes sense in order to protest what is being done in this country. So, you know, I think, like, I don't think anyone necessarily expects that it's going to change how the Trump administration is approaching Social Security, Medicare or whatever. But I do think it will probably strengthen the backbone, a little bit of the Democratic Party who will see this show of strength.
Ryan
I mean, it might change how Republicans approach Social Security and Medicare because it's a confirmation of Trump's longtime political instincts. And that's why, you know, you saw Josh Hawley going to the White House yesterday saying, I talked to Trump. He says, nobody is going to touch Social Security and Medicaid and, you know, trying to.
Emily
They are touching it. It's being touched right now.
Ryan
There's that. There's that video of Bill Cassidy this week on Newsmax. Did you see this crystal of him, like, accidentally saying, cut Medicaid and then realize he meant to say ref form and correcting it to the camera and giving a big old grin?
Emily
Yeah.
Ryan
And like, it may turn into one of those situations where Trump ends up saying, like, you guys gotta stop. We don't know, though. And that's probably not good enough assurance if you're just an average American who relies on those pro. Those programs. Which is why I think this is a study in contrast with the resistance that bubbled up in 2017. And Ryan, like, wrote a whole book about this. But I think as this has, we've seen this over the first, what, almost 100 days, 75 days, I think, as of tomorrow, of the Trump administration. It looks, this is a much better Democratic resistance than the 1 of 2017, because I increasingly think the one that came to be in 2017 morphed into something that ended up greatly backfiring on Democrats because it wasn't based on class criticism. And this one so far is, is much more focused on that, which is pretty interesting for the Democratic Party. And there's, there's just like a, A recognition that this isn't. Don't talk about, grab them by the pussy. Like, talk about actual nuts and bolts kitchen table issues that will break through with your regular voter every day.
Emily
So, so not hands off my pussy, Hands off my Social Security.
Ryan
It's like, it's such an obvious.
Crystal Ball
You would think, it's been clarifying, I think, for the Democratic base to have this multi billionaire, richest man on the planet literally wielding a chainsaw on stage, hopped up on ketamine, allegedly going after the, you know, going after the federal government and cutting, you know, and then, and then now they're watching all their 401ks, you know, collapse into, into some puddle. And that, you know, that. That's a lot worse for somebody in their 70s than it is for people in their 30s or 40s.
Emily
Dow is down 1200 points right now today, by the way.
Crystal Ball
Another 1200 on top of yesterday's 16. Yeah, that's like. Those are big. Those are, those are real numbers.
Emily
Starts to be real. Yeah, for sure. Okay, last thing here. Gotta get Emily in particular, but both of you to weigh in on our friend Laura Loomer.
Ryan
No, literally, Ryan. Ryan is actually in touch with Laura Loomer.
Crystal Ball
I'm more excited. She gave us a comment yesterday. I'll pull it up.
Emily
Oh, did she?
Crystal Ball
Yeah, yeah.
Emily
So she. So this again, like, while the, while the global economy is in free fall and like, you know, from Trump's tariffs, sheriffs, he's not doing. He's meeting with Laura Luber at the White House before going to play golf. Right. This is his, this is on his agenda. So anyway, after she visits, he fired, what, three people from the National Security Council. The way Axios frames that, the firings come a day after conspiracy theorist Laura Loomer visit the Oval Office, press Trump to fire specific NSC staffers. Axios does not confirm whether the firings were directly linked to that incident, but the source familiar said they were being labeled as an anti neocon move. So, Emily, what do we know about these people and their alleged sins? And of course, I mean, this comes as the whole Signal Gate thing happened, and no one was fired out of that, including Mike Waltz, who is definitely a neocon, as anyone can see for themselves within the Signal chats, as were pretty much everybody else in that chat, by the way. So he's not fired, but these three people appear to have been, have been Loomered here in the wake of this, of this meeting. Like, what do we know about these people? What do you think Laura Loomer, what is her issue with them, etc.
Ryan
Well, loomer is basically doing the Charlie Kelly chalkboard Pepysilva thing from It's Always Sunny in Philadelphia, the meme. And I don't mean that in a bad way, actually, because some of these people's careers, you actually really have to start piecing together a puzzle in order to get the big picture of like, okay, and Mike Waltz is one of them. They may be talking like, quote, unquote, America First Patriots right now, and, you know, staunch supporters of the Trump movement, which is you're moving towards China and, you know, moving away from the same neoconservative position on Ukraine and Russia. But, but Loomer is basically showing that these, some of these allies of Mike Waltz are sort of like him. You know, he's someone who was an advisor to Dick Cheney, founded a defense contracting group that had big business in Afghanistan, and she was, she was kind of connecting the dots and showing these, these folks had sort of similar career backgrounds that went through the, like the national security ringer. And they're, according to Loomer, bringing all of that baggage with them and wrapping it in the America first packaging. So it's, she's completely right, by the way. I mean, like, there's been some ideological, there's been some sincere ideological shifts among people in the Trump orbit who have reconsidered their own priors. And some of that is genuine. But if you look at Mike Waltz, I don't think it's really the case with him. And that's what she's saying is, look at these guys. He brought with him, you know, Ryan, you, you, you. What did she tell drop set yesterday?
Crystal Ball
Oh, she had a very statesmanlike respect.
Emily
For the White House and President Trump. I'm not going to divulge any details. Blah, blah, blah.
Crystal Ball
Yeah, which is. So we reported over drop site that inside the administration, Waltz's NSC is. Is just colloquially referred to as the neocon Security Council.
Ryan
So it's.
Crystal Ball
It's just. It's very much known as the kind of leading edge of the. Of the Warhawk element. You know, she went in and got Doug Feith's NEPO hired, you know, Doug Feith, one of the leading neocons of the Bush era. And his kid David apparently was. And it seemed. It seems like Trump learned about this and moved on it. Now he sort of denied it. Like, do. Do we have the Trump clip talking on Air Force One?
Ryan
On Air Force One.
Crystal Ball
It's quite funny to watch because he's like, look, Laura Loomer, gotta see it. I'll see if I can find. But he's like, look, Laura Loomer, very strong. And what's amazing is that she did this with Michael Waltz sitting there in the Oval Office.
Emily
Oh, really? Oh, he was there.
Crystal Ball
He was there. And she's just.
Ryan
And the Vice President apparently, too.
Emily
Loomer's got some balls, man. I will give her.
Crystal Ball
She has balls. She's just sitting there. Oh, here it is. She's dropping. Here, let me. Let me play this. She's just dropping all of this research, getting these. Getting these clowns fired, like, right in. Right in front of their bosses. It's like, you got to. You got to admire that. Here, let me play some Trump here a little bit about your meeting with.
Unknown Host 3
Laura Loomer and Mike Waltz today and how that came about. So Laura Loomer is a very good patriot. She's a very strong person. And I saw her. She has. She makes recommendations of things and people, and sometimes I listen to those recommendations like I do with everybody. I listen to everybody and then I make a decision. But I saw her yesterday. She was at the ceremony at. She is. She'll always have something to say. Usually very constructive.
Ryan
She'll always have something to say. Usually very constructive.
Unknown Host 3
Adding to the administration, not adding. Well, she'll recommend that, too. Yesterday, she recommends some people for jobs. Did she have anything to do with.
Emily
The NSC aids who were ousted?
Unknown Host 3
No, no.
Crystal Ball
Not at all. No, no, not at all. Not at all.
Emily
She'll always have something to say, usually.
Crystal Ball
Very constructive, very strong, good patriot. That's so good.
Emily
Didn't Suzanne.
Crystal Ball
She sat there and ripped these people.
Emily
Off of Air Force One. Then that happened on the campaign. Laura was like on the plane a lot and started in the inner circle and then Susie Wiles came in and.
Crystal Ball
They blamed, they blamed her for him doing that embarrassing thing. They're eating the pets, they're eating the cats, they're eating the dogs. They kicked her off for that.
Emily
Turned down not to matter.
Ryan
So, so, and to what we just watched from Trump, him claiming that it wasn't Loomer. Loomer just retweeted herself from 13 hours ago saying, you know, how, you know, how, you know, the NSC officials I reported to President Trump are disloyal people who have played a role in sabotaging Donald Trump. Because the fired officials are being defended by Jen psaki and Andrew McCabe on MSNBC and CNN right now. So, I mean, I think it's fair to take all of, of the way that she's talking about it and what happened is pretty clear evidence that this was directly connected to what Trump was.
Crystal Ball
Not making much of an effort to deny that. Yeah, that was one of his more casual. No, she didn't have anything to do.
Ryan
Yeah.
Emily
He said, oh, she recommended some people for jobs. Yeah, for those jobs. After she told you to fire those people.
Ryan
I mean, she also absolutely bodied Dana Bash. I mean, this is nobody. I feel like it just never gets enough attention that Dana Bash's ex husband. They're married. Well, she covered the Obama administration. You guys remember this better than I do.
Crystal Ball
But Jeremy Bash, chief of staff to the CIA. Yeah.
Ryan
Is very closely on Panetta. And I think what Loomer was pointing out, I didn't verify this, so it's probably true. Sounds true, but it didn't verify this. But that one of Waltz's NSC guys worked for Jeremy Bash, who obviously has been, you know, deep state circles.
Emily
Interesting.
Ryan
Very long.
Emily
Gotcha. Yeah. And Laura Loomer, she's never wrong. So no need to fact.
Ryan
There's a, I, I think, you know, I, I trust her, her fact checking New York, you know, New Yorker level fact checking.
Emily
I guess the last thing I'll say about this is, you know, Waltz seemed to have been protected by the fact that, that Trump hates Jeffrey Goldberg and didn't want to be seen as giving Jeffrey Goldberg a scalp. So instead, yeah. Fires in and is like, all right, well, I guess we're not going to take out that guy. But all of these underlings, they're vulnerable, so we're going to come in with a knife with them. So that seems to be kind of what played out here.
Ryan
It's completely insane. I mean he's Donald Trump. I have no idea why he is not pushing the issue with, with Mike Waltz because there are, this is the point that we were talking about the internal reporting about from Dropsite about people just calling it the neoconservative Security Council. It's, there's like a lot of internal irritation with Mike Waltz. He's, he's not the most popular person in Trump circles and he never has.
Emily
Been even outside of like ideology.
Ryan
Well, I think it's both like people see it both in the same way that he's someone who's wants to, he thinks he can steer Trump in the right direction.
Emily
He's the kind of guy that would have Jeffrey Goldberg in his phone.
Ryan
Exactly, exactly. And then go on Laura Ingraham when you know, he doesn't really have much of a defense to mount and say he got sucked in. It's not a. But that's why I don't understand. I mean he hasn't offered to resign, which would have probably been the patriotic thing to do, to borrow a phrase from Trump himself in reference to Laura Loomer. But maybe it's, I mean, I don't know, Ryan.
Emily
Maybe you've got a word with a Rhonda Start. Emily.
Crystal Ball
But from the perspective of the internal fight between the neocons and the America Firsters, Mike Waltz staying on but being completely denuded and like stripped of power and like losing his staff is probably better for the America first isolationist crew than having them replaced by another neocon.
Emily
Well, who are they? They weren't in that signal chat.
Crystal Ball
It's so. Well, it's jd. I mean, yeah, JD Vance. Whether or not Hegseth, you know, lives up to that or he just go reverts back to the, you know, what we saw in that signal chat, a lot of the, if you look at the, all the different people that made it into the administration despite, you know, Jewish Insider magazine, you're trying to stop them. Like yeah, those, those types. What's his name? Bridge.
Emily
Bridge Colby.
Crystal Ball
Yeah, Bridge Colby. Like that, his whole faction, like, you know, they're, they probably benefit from Walt's having. Sticking around but having less power. But yeah, but then are they just going to fill the vacuum themselves and get, get all war happy.
Emily
Yeah. Fall in line when Stephen Miller's like, nope, big guy wants to bomb. So that's what we're doing.
Ryan
I mean, I guess I would rather like my defense is I rather have those guys in the room than have a room full of Mike Waltz and John Bolton.
Emily
Yeah, yeah, no doubt. All right, guys. Anything else? Ryan, I know you had a story you were following in gossip.
Crystal Ball
Yeah, we're at drop site. We're. We're working on a piece about the medic massacre which has kind of broken through. It's not out yet, so I'll. We can talk about that later. But it's.
Emily
Yeah, look, for that.
Crystal Ball
People have been following that probably pretty closely. It's utterly, utterly incredible. Utterly unbelievable.
Emily
Yeah, well, March 23rd shows too. I mean, if this happened at the early stages of the onslaught in Gaza, there would have been huge press attention. There would have been an effort, a mass propaganda campaign coming from the Israelis.
Crystal Ball
Oh, they're all Hamas. And.
Emily
Yeah, slideshows. And here's a, you know, fabricated document.
Crystal Ball
That audio shows that the men.
Emily
Remember the fake phone.
Crystal Ball
Fake audio.
Emily
Yeah, yeah. The fake audio that was released there would have been a whole effort. Now they don't feel like they don't even have to really do it. Yeah. I mean, not to say that they didn't claim they were Hamas or whatever, but there was much less. Less effort required at this point.
Crystal Ball
Yep. Yep.
Emily
All right, guys, well, thank you as always, and thanks to all of you watching out there, by the way, guys, you know, we're able to do these extra Friday shows with your support. So if you're able to become a premium subscriber, we do really appreciate it. It helps us to be able to, you know, continue, because we've really been trying to be as on top of the news as possible given just how much things are breaking, like, like all the time, every hour. By now, when I go and check Twitter, there'll be like five more stories that we should have covered just right, right now that'll be ready.
Ryan
Your quote, unquote vacation seemed very relaxing. Like a great respite from.
Emily
I wasn't spending hours every day doom scrolling. Don't worry. Yeah, I totally wasn't doing that.
Ryan
Doesn't sound like you, but, you know.
Emily
Seriously though, I. I don't feel like I could.
Crystal Ball
I gotta get my daughter to a thrift.
Emily
Bye, Ryan. I don't feel like I could step away from the news for a week. Like, I feel like I would be lost when I came back. I feel like I would be completely lost. So I will say I'm glad it was that week and not Liberation week, because then I just would not have taken a vacation at all, honestly, because it's just too wild. But in any case. Yeah, those are the times we live in. So we appreciate you guys support if you're able to.
Ryan
And now we have these Friday shows to work through some of the stuff that happens throughout the week.
Emily
Yep. Indeed. Indeed. All right. Thanks, Emily. Have a great weekend, guys. We'll see you soon.
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Breaking Points with Krystal and Saagar – Episode Summary
Title: China Calls Trump's Bluff, Stocks Plummet, Lawyer Responds To JD Vance
Release Date: April 4, 2025
Hosts: Krystal Ball and Saagar Enjeti
Podcast by: iHeartPodcasts
Discussion Overview: Krystal Ball and Saagar Enjeti delve into the ramifications of former President Trump's aggressive tariff policies, examining how these measures have reshaped the global economic landscape. They highlight China's swift retaliation, which has exacerbated tensions and contributed to significant market volatility.
Notable Quotes:
Krystal Ball [07:07]:
"China's response to me suggests what a difficult spot the US is in. They have a unified system whereby they can come up with an idea and execute on it, whereas in the United States, we are literally having ChatGPT come up with our plan."
Saagar Enjeti [08:32]:
"China's retaliatory tariffs targeting key American industries demonstrate their strategic planning and control over supply chains, unlike the chaotic approach of the US administration."
Discussion Overview: The hosts analyze the latest job report, which revealed an unexpected addition of 228,000 jobs and a slight increase in the unemployment rate to 4.2%. They discuss the implications of higher workforce participation and how these figures interact with the ongoing tariff-induced economic strain.
Notable Quotes:
Krystal Ball [04:17]:
"The business press was saying this was an interesting but meaningless round of numbers because whether it was terrible or good, the market would discount it in the current post-Liberation Day economic climate."
Saagar Enjeti [05:33]:
"The theory is the markets are reacting to China's retaliation, which is why they're down even more than they already were."
Discussion Overview: Krystal and Saagar discuss the dramatic decline in the stock market, noting a drop of 1,200 points. They explore whether the tariffs and China's retaliatory measures could lead to further market instability and the long-term effects on American businesses and consumers.
Notable Quotes:
Krystal Ball [22:11]:
"We're seeing manufacturing plant closures and layoffs, which contradict the narrative that tariffs are bringing jobs back."
Saagar Enjeti [23:25]:
"It's impossible to gauge exactly what all the fallout is ultimately going to be, but even with the positive jobs report, futures remain significantly down."
Discussion Overview: A pivotal segment features an interview with Lucia Curiel, the lawyer representing Kilmar Abrego Garcia, a Maryland father wrongly deported to a notorious El Salvador prison despite a prior court ruling against his deportation. The hosts and Curiel discuss the legal missteps, human rights violations, and the broader implications for immigration policies.
Notable Quotes:
Lucia Curiel [46:31]:
"The gang allegations don't even appear in the judge's decision, showing how little weight they were given."
Krystal Ball [61:17]:
"He's now in a torture prison with special needs children at home, isolated and without due process – this is evil."
Saagar Enjeti [63:03]:
"If the court orders his return, there's a chance he could be deported elsewhere, but the administration's refusal to correct the mistake keeps him trapped in El Salvador."
Discussion Overview: The episode presents a hypothetical Senate matchup poll between Alexandria Ocasio-Cortez (AOC) and Chuck Schumer, revealing a surprising lead for AOC. This outcome is discussed as a sign of shifting sentiments within the Democratic base, indicating a preference for more progressive and anti-establishment candidates over traditional leadership.
Notable Quotes:
Krystal Ball [70:36]:
"The majority of Democrats in New York are willing to say, 'Yeah, AOC, fine, let's give that a shot,' reflecting a significant shift in the party's dynamics."
Saagar Enjeti [74:01]:
"Chuck Schumer is flirting dangerously with being seen as the greater evil, similar to what happened with the Tea Party on the Republican side."
Discussion Overview: With over 1,100 planned protests nationwide and approximately 250,000 RSVPs, the hosts examine the surge in Democratic-led demonstrations. These protests are positioned as a response to the Trump administration's policies, emphasizing resistance to measures perceived as threatening Social Security, Medicare, and Medicaid.
Notable Quotes:
Krystal Ball [78:44]:
"It's like anti Doge Doge, anti Doggy, hands off Social Security, hands off Medicare and Medicaid. Stop destroying the government."
Saagar Enjeti [82:25]:
"These protests are a confirmation of Trump's political instincts, showing widespread opposition to his economic policies and their impact on everyday Americans."
Discussion Overview: The episode covers the recent firings from the National Security Council (NSC) following Laura Loomer's meeting with Mike Waltz. Krystal and Saagar discuss Loomer's role in challenging neoconservative elements within the administration and the potential implications for national security policy.
Notable Quotes:
Krystal Ball [85:24]:
"She sat there and ripped these people off of Air Force One, pushing out those tied to neocon circles."
Saagar Enjeti [89:13]:
"Loomer is connecting the dots, showing that figures like Mike Waltz bring a neoconservative baggage into the Trump administration, despite the America First rhetoric."
In this episode of Breaking Points with Krystal and Saagar, the hosts provide a comprehensive analysis of the current economic turmoil driven by Trump's tariff policies and China's retaliation, the implications of the latest job reports, and the dramatic stock market decline. They also highlight significant political shifts within the Democratic Party, ongoing protests against the Trump administration, and internal conflicts within the NSC influenced by Laura Loomer's activism. The deportation case of Kilmar Abrego Garcia underscores the administration's strained immigration policies and their devastating human impact. Through engaging discussions and insightful commentary, Krystal and Saagar offer listeners a deep dive into the multifaceted challenges facing the United States in this tumultuous period.
Note: Advertisements and non-content segments have been excluded from this summary to focus on the core discussions and analyses presented in the episode.