Black Friday & Kamala’s Next Steps | 11.29.24

Summary

Morning Wire Podcast Summary: "Black Friday & Kamala’s Next Steps" | 11.29.24

Release Date: November 29, 2024
Host/Author: The Daily Wire
Presented by: John Bickley and Georgia Howe

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1. Black Friday Consumer Confidence and Shopping Trends

Black Friday Performance Expectations
Daley Weiher opens the episode at [00:03] discussing retailers' optimism for a profitable Black Friday, citing increased shopper enthusiasm compared to the previous year.

Exclusive Deals and Shopping Atmosphere
John Bickley elaborates at [00:09] on the substantial discounts available, mentioning deals "up to 70% off our everyday prices," and anticipates a "excitement on Black Friday, not a craziness."

Holiday Shopping Forecast
Georgia Howe introduces the segment on holiday shopping forecasts at [00:19], setting the stage for an in-depth analysis.

Increased Consumer Participation
Amanda Prestigiacomo, a Daily Wire reporter, explains at [01:56] that Black Friday has evolved into a multi-day shopping event extending through Cyber Monday, driven by a significant rise in online shopping. Last year saw nearly $10 billion spent online during this period, a sharp increase from under $2 billion a decade ago.

Impact of Inflation on Shopping Behavior
At [02:48], Prestigiacomo addresses ongoing inflation concerns, noting that consumers are focusing on deals for essential items over luxury goods. She warns shoppers to be vigilant about "supposed deals that aren't really deals," citing a WalletHub report at [03:36] which found that "41% of the items at major retailers are actually not less expensive compared to their pre Black Friday prices."

Tariff Concerns and Consumer Purchases
The discussion shifts to President Trump's proposed tariffs at [03:36]. Prestigiacomo explains that a potential 10% tariff on Chinese imports and a 25% levy on products from Mexico and Canada could influence consumer behavior, with some experts predicting a surge in sales before any tariff impacts take hold.

Corporate Responses to Tariffs
She further highlights corporate strategies to mitigate potential tariff effects. For instance, Steve Madden plans to "move production out of China," reducing its reliance from "more than 70% of the brand's US imports" to about a quarter [03:36].

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2. President Trump's Energy Policy and Tariff Implications

Trump’s Vision for Energy Independence
At [05:03], Georgia Howe transitions to discussing Trump's energy agenda with Tim Rice, Daily Wire Deputy Managing Editor. John Bickley quotes Trump at [05:45]: “I just said, but Bobby, leave the oil to me. We have more liquid gold, oil and gas...”

Executive Orders and Policy Shifts
John Bickley outlines Trump's plan to reverse Biden's energy policies, including expediting drilling approvals and lifting bans on LNG exports [05:45]. These actions signify a pivot back to traditional energy sources like oil and gas, emphasizing "global dominance as much as it's about energy independence."

Long-Term Energy Strategy
Daley Weiher probes at [07:04] about Trump's plans beyond immediate executive orders. Bickley responds by mentioning the intention to replenish the Strategic Petroleum Reserve and potentially withholding funding from the International Energy Agency (IEA), reinforcing the U.S.'s commitment to energy self-sufficiency.

Leadership Appointments in Energy Sector
John Bickley discusses key appointments, including Chris Wright leading the Department of Energy and Doug Burgum chairing the National Energy Council [08:11]. Wright's stance reflects skepticism towards climate change's impact, advocating for continued reliance on fossil fuels.

Symbolic and Strategic Moves
Trump's strategy includes both substantive policy changes and symbolic actions, such as reducing support for the IEA, positioning the U.S. as resistant to foreign influence on its energy policies [07:13].

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3. Kamala Harris’s Political Future Post-Election Defeat

Harris’s Current Status and Future Plans
Daley Weiher introduces the topic at [09:00], highlighting Kamala Harris's retreat to Hawaii post-defeat. Mary Margaret Olihan, a senior reporter, details at [09:20] that Harris is "plotting her next move over the holidays," considering a presidential run in 2028 or a gubernatorial bid in California.

Strategic Positioning Within the Democratic Party
Olihan explains that Harris aims to "establish herself as a Democratic leader," particularly by opposing President Trump, positioning herself favorably for future leadership roles [09:20].

Democratic Party's Reception of Harris
At [10:45], Olihan discusses the Democrats' support for Harris, noting her strong performance with "more than 74 million votes." A Puck News poll indicates Harris is still the top choice for the 2028 Democratic nominee, ahead of Gavin Newsom and Josh Shapiro [10:45].

Potential Gubernatorial Ambitions and Implications
The possibility of Harris running for California governor is examined at [11:56]. While a gubernatorial run could capitalize on her popularity in the state, it may delay her presidential ambitions until 2032, a significant gap in political timelines.

Financial Challenges and Campaign Debt
Olihan addresses Harris's financial struggles at [12:29], revealing that her campaign is "reportedly $20 million in debt." Despite ongoing fundraising efforts to "fight back against Trump," the campaign has faced significant expenditures, including a costly town hall event [12:36].

Democratic Party's Internal Dynamics
The Democratic National Committee (DNC) is undergoing changes, with the upcoming election for its chair and layoffs affecting long-term staffers [12:36]. This period of transition could influence Harris's strategic positioning within the party.

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Notable Quotes

• John Bickley on Black Friday Deals
  "We have items on sale up to 70% off our everyday prices. We anticipate excitement on Black Friday, not a craziness."
  [00:09]

• Donald Trump on Energy Independence
  "I just said, but Bobby, leave the oil to me. We have more liquid gold, oil and gas... More than Saudi Arabia. We have more than Russia, Bahamas. Bobby, stay away from the liquid gold."
  [05:45]

• Mary Margaret Olihan on Kamala Harris’s Ambitions
  "I'm staying in the fight."
  [09:20]

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Conclusion

In this episode of Morning Wire, John Bickley and Georgia Howe delve into the evolving dynamics of Black Friday shopping, analyzing consumer confidence and the impact of potential tariffs on retail behavior. They also explore President Trump's strategic shifts in energy policy aimed at reinforcing U.S. energy independence and global dominance. Additionally, the podcast examines Kamala Harris's post-election strategies, her standing within the Democratic Party, and the financial challenges facing her campaign. Through insightful discussions and expert analysis, the hosts provide listeners with a comprehensive overview of current political and economic landscapes.

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Transcript

[Daley Weiher]

Retailers are hoping for a profitable Black Friday as shoppers show increased enthusiasm from last year.

[John Bickley]

As far as the deals go, we have items on sale up to 70% off our everyday prices. We anticipate excitement on Black Friday, not a craziness.

[Georgia Howe]

We break down the holiday shopping forecast.

[Daley Weiher]

I'm Daley Weiher, editor in chief. John Bickley with Georgia Howe. It's November 29th, and this is a Black Friday edition of Morningwire.

[Donald Trump]

I make this pledge to the great people of America. I will end the devastating inflation crisis immediately, bring down interest rates and lower the cost of energy. We will drill, baby, drill.

[Daley Weiher]

What is the president's plan to return the country to domestic energy sources such as oil and gas?

[Georgia Howe]

And following her decisive defeat, Kamala Harris is looking to stay in the political spotlight. What's next for the vp?

[Daley Weiher]

Thanks for waking up with MORNING wire. Stay tuned. We have the news you need to know.

[Ben Shapiro]

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[Daley Weiher]

Black Friday enthusiasm suggests consumer confidence is ticking up.

[Georgia Howe]

Here to discuss is Daily Wire reporter Amanda Prestigiacomo. So, Amanda, what can we expect for this Black Friday?

[Amanda Prestigiacomo]

Hey, Georgia. Well, first, Black Friday is no longer this standalone day of shopping madness. Instead, consumers are doing a lot of their holiday shopping and deal hunting on that Friday all the way through Cyber Monday. And of course, that's because of the massive growth in online shopping. For example, last year, nearly $10 billion were spent online from Black Friday to Cyber Monday. A decade ago, online sales in that timeframe were just under 2 billion. And despite Americans still struggling with cumulative inflation over the past three years, today is still expected to be the biggest shopping day of the year. One recent survey found that 47% of respondents said that they plan on shopping on Black Friday. That's up from 31% last year. And there was a similar increase for Cyber Monday. Overall, Friday through Cyber Monday, a global consulting firm called Bain & Co. Has forecasted that we'll see 5% growth in retail sales compared to last year.

[Georgia Howe]

You mentioned inflation still being an issue. Is that going to affect what consumers are looking for this time around?

[Amanda Prestigiacomo]

Well, Americans are wanting a deal on essentials, and they're not necessarily buying. Luxury chains known for reasonably priced goods like TJ Maxx and Walmart had particularly strong numbers heading into Black Friday. Basically, the price has to be right for the right goods. But shoppers on the hunt should really be on the lookout for supposed deals that aren't really deals. A report from WalletHub compared Black Friday ads against their Amazon prices just a few months ago, and they found that 41% of the items at major retailers are actually not less expensive compared to their pre Black Friday prices. Retailers are sometimes inflating original prices, so it looks like a deal. It would be wise to cross check any deal you think you're getting. Personally, I've seen a lot of this happen online specifically.

[Georgia Howe]

Right. It's frustrating. Now, there have been a few headlines about how Trump's signaling around tariffs could affect the price environment. Do we know for sure that that's happening?

[Amanda Prestigiacomo]

Yeah. So as we've covered here, Trump has proposed an extra 10% tariff on Chinese imports and a 25% levy on all products from Mexico and Canada. He tied that to the flow of migrants and illegal drugs coming into the U.S. some experts have speculated that this will boost sales between Friday and Monday. They think Americans will want to buy those big ticket items before they see the effects from tariffs. But on the other side of that, the markets really didn't have a huge reaction to Trump's proposed tariffs. And actually the US Dollar rose on Tuesday and the Mexican peso and Canadian dollar slid. Experts say that they see the signaling on tariffs from Trump as negotiating art of the deal style. They see it as more of a threat than something he'll actually do right away. Perhaps consumers view it that way, too. Also worth noting, some of these companies that have previously relied heavily on China are now moving elsewhere. In one example, fashion company Steve Madden said in response to Trump's prop that it's putting a plan in motion to move production out of China. More than 70% of the brand's US imports currently come from China, but the CEO said he'll decrease that to just about a quarter of its business. So companies already trying to head off those potential price increases for consumers.

[Georgia Howe]

Well, all I want this year is a microwave air fryer. So if anyone has a recommendation, I'm interested. Amanda, thanks for reporting.

[Amanda Prestigiacomo]

You're welcome.

[Georgia Howe]

Now that Trump's made all of his cabinet picks, the question is, what will they do? One area of particular Interest energy.

[Daley Weiher]

Here with a look at Trump's second term energy agenda is Daily Wire Deputy Managing editor Tim Rice. Hey, Tim. So it's safe to say this will be one of the biggest changes when Trump returns to the White House. What exactly will this look like?

[John Bickley]

Yeah, John, you're absolutely right. Things are going to look a lot different from what the Biden administration has done. Basically, we're going to see a return to so called traditional energy sources like oil and gas. Remember, Trump signaled this as early as election night in his victory speech when he teased RFK Jr about being an environmentalist.

[Donald Trump]

I just said, but Bobby, leave the oil to me. We have more liquid gold, oil and gas. We have more liquid gold than any country in the world. More than Saudi Arabia. We have more than Russia, Bahamas. Bobby, stay away from the liquid gold.

[John Bickley]

That is honestly a pretty good distillation of Trump's thoughts on energy policy. For him, this is about global dominance as much as it's about energy independence. And if we look at the energy policy checklist the Trump transition team began circulating earlier this week, we'll see both of these goals reflected. Trump says that on day one, he'll sign executive orders that would expedite approvals for drilling projects on federal land and off the coast and lift Biden's ban on liquefied natural gas exports. He's going to reapprove the Keystone pipeline, which Biden canceled with an executive order on his first day in office. And he's going to roll back a lot of the Biden administration's climate and energy policies, plans to transition away from natural gas, subsidies for electric vehicle charging stations, things of that nature. So taken together, these policies basically announced to the world that the United States is done with green energy. Trump is saying, we're a major energy producer, we're going to remain a major energy producer and we're going to start competing with Russia and Saudi Arabia and these other countries that currently supply the world with oil.

[Daley Weiher]

Well, I'm sure that sounds good to a lot of people and it certainly would send a strong signal across the globe. Is Trump planning anything beyond day one executive orders?

[John Bickley]

Yeah. One of the long term goals included in the checklist is asking Congress for funds to replenish the Strategic Petroleum Reserve, which the Biden administration depleted to offset price hikes after Russia invaded Ukraine. That's expected to boost oil demand, which would encourage oil production. There are also some rumblings that Trump is going to withhold funding from the International Energy Agency, the French group that's focused on reducing carbon emissions that last one is a good reminder that Trump is going to go for some symbolic wins in addition to his more substantive policy proposals. Certainly, the IEA will still soldier on without funding from the United States, and Democrats will still point to their emission standards to justify their bans on fracking and things like that. But once again, Trump is sending a clear signal we, the United States and its taxpayers, are not funding a foreign group whose main goal is to undermine American energy independence.

[Donald Trump]

Right.

[Daley Weiher]

It falls right in line with his messaging throughout the campaign. And who on the Trump team is going to be tasked with implementing these policies?

[John Bickley]

Well, we've got Chris Wright, a fracking exec and prominent defender of the oil and gas industry, leading up the Department of Energy. Notably, Wright has repeatedly said that he does think fossil fuels contribute to climate change, but that climate change isn't as big of a threat as Democrats suggest. Wright has been a major critic of the IEA and emissions caps and said in 2023 that the world runs on oil and gas and we need that. And in addition to running the Department of the Interior, North Dakota Governor Doug Burgum is also going to chair a newly formed National Energy Council. Trump says the council will oversee the path to US Energy dominance by cutting red tape and stop the radical left's war on American energy.

[Daley Weiher]

Doesn't get much clearer than that. Tim, thanks for report.

[John Bickley]

Anytime.

[Daley Weiher]

After a resounding defeat, Kamala Harris has retreated to Hawaii with members of her family and senior aides. But according to new reports, she's determined not to fade from the political landscape.

[Georgia Howe]

Here to discuss Harris's future plans is Daily Wire senior reporter Mary Margaret Olihan. So, Mary Margaret, what is the vice president up to right now?

[Mary Margaret Olihan]

Well, she just wrapped up a vacation in Hawaii in a luxury estate overlooking the Pacific Ocean. And the White House has defended her absence by saying she deserves some time off after a chaotic presidential run. But she's also been doing some strategizing. Politico reported Monday that Kamala has been telling her advisors to keep her options open and that she'll be plotting her next move over the holidays. She's reportedly open to running for president in 2028 or even running for governor of California in 2026, saying on phone calls, and I'm quoting, I'm staying in the fight, that matches what she said in her concession speech to supporters. One former Harris campaign aide suggested to Politico, and I'm also quoting here, the natural thing to do would be to set up some type of entity that would give her the opportunity to travel and give speeches and preserve her political relationships. Now, what exactly that would be is unclear. And when she leaves the White House in January, it will be the first time that Harris has been a private citizen since she was elected San Francisco's district attorney back in 2003. And she does have some options. Typically, presidential election losers may run again. They might write books, teach, START think tanks, launch their own advocacy organizations and more. But in the meantime, Harris is reportedly planning to establish herself as a Democratic leader, partially by using her platform to aggressively oppose the new president, Donald Trump.

[Georgia Howe]

Now, how receptive are Democrats to having Harris take on a leadership role?

[Mary Margaret Olihan]

Well, as the dust settles, Harris's allies think that Kamala didn't do too badly in the election. She did win more than 74 million votes, and they believe she successfully portrayed herself as more moderate and that she isn't associated with the post election toxicity in the way that John Kerry or Hillary Clinton were. And many top Democrats are still blaming her defeat on President Biden for not getting out of the race sooner. One Puck News poll released last week found that Harris is still Democrats top choice to be their 2028 presidential nominee. Gavin Newsom placed second, while Pennsylvania Governor Josh Shapiro placed third. Bill Clinton, for example, defended Harris by saying she only had a brief period to make her case to the American people.

[Donald Trump]

You know, she only had 107 days to introduce herself to America. Different people, particularly people that worry about, you know, doing their work, paying their bills and raising their kids and don't have a lot of extra bandwidth for politics. It takes a long time for call this.

[Georgia Howe]

Now, you mentioned this, but a few people have floated the possibility of her running for California. Governor Newsom's term ends in 2026 and he can't run again due to term limits. Is Harris exploring that option?

[Mary Margaret Olihan]

Well, we don't totally know yet. Polling from UC Berkeley released in mid November found that Harris would have a very clear advantage if she decided to run in the Golden State. Almost half of voters would be very or somewhat likely to support her. She also has a long history in the state. But running for governor might impede her chances to run for president in 2028. And she'd have to start campaigning for president pretty much as soon as she got elected governor of California, meaning that if she still has presidential ambitions, she might have to wait until 2032 to run. And that's a long time in politics.

[Georgia Howe]

Now, we've reported in the past that Harris's campaign is in a lot of debt. What's the status of her financial situation.

[Mary Margaret Olihan]

Well, she's still fundraising. My inbox is full of increasingly desperate fundraising emails from the Harris campaign asking for funds to, quote, fight back against Trump. Her fight fund continues to ask her supporters for money. She's reportedly $20 million in debt, though, and her campaign has denied this. But after spending 1.5 billion in 15 weeks on advertising in influencers, rallies, celebrity concerts, private flights, and one infamous town hall featuring Oprah that she reportedly paid over $1 million for. So that's put the DNC in a tough position. They reportedly laid off a large number of long term permanent staffers just last week on one day's notice with no severance pay. And meanwhile, the DNC announced on Monday that it will hold the election for its chair on February 1st. DNC Chair Jaime Harrison won't be seeking reelection. And so far we're seeing people like Ken Martin, the chairman of the Minnesota Democratic Farmer Labor Party, or former Maryland governor Martin O'Malley throw their hats in the ring.

[Georgia Howe]

Well, whoever they choose, it's going to give us kind of a sense of where the Democratic Party is headed post election. Mary Margaret, thanks for reporting.

[Mary Margaret Olihan]

Thanks for having me.

[Georgia Howe]

Thanks for listening to Morning wire. We created this show to bring more balance to the national conversation. If you love our show and you stand with our mission, please consider subscribing, giving us a five star rating and most importantly, sharing our podcast with a friend.

[Daley Weiher]

Thanks for waking up with us. We'll be back tomorrow with more news you need to know.