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WealthBreak Host
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Rodney Williams
I'm Rodney Williams.
Travis Holloway
And I'm Travis Holloway. Welcome to the wealthbreak podcast, a real conversation about finance.
Rodney Williams
Let's be honest, building wealth doesn't look the same for everyone.
WealthBreak Host
I feel like sometimes being broke is a cycle and that we might have.
Travis Holloway
To revisit that and we're not stopping at success stories.
WealthBreak Host
What happens when it doesn't go right?
Ben Ferguson
How do you cope with it?
Rodney Williams
Because wealth isn't just about money. It's about creating a life where you thrive and help others do the same.
Travis Holloway
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WealthBreak Host
I think Trump's gonna have a willing dance partner because I think Mamdani's gonna be seeing this as a way to enhance his own national profile. He wants to be the one to take on Trump. The problem is some of the money that might dry up. Trump has a real opportunity. There is some money that's discretionary. Trump can cut it there. There is some money that's required that he can't. And there's other dollars that are probably politically sensitive. When you start thinking about the congressional races that rely on New York funding, you know, I'm sure some of the members here in the suburbs don't want New York to use that much funding.
Ben Ferguson
You're listening to the 47 Morning Update with Ben Ferguson.
Good Wednesday morning. It is election night. Or morning in America. I'm coming to you live with a 47 morning update from Jerusalem. In Israel and what we witnessed was a beatdown of Republicans but in very liberal cities and states. So what does it mean moving forward? And how much of an impact did the shutdown have on the election results?
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Ben Ferguson
It's the 47 Morning Update and it starts right now.
Story number one, as it is 7am.
Right now in Jerusalem where I am doing this show from, it is well after midnight in America and what you're waking up to is a big Democratic win. But let's be clear, it was wins in places that Democrats almost always win. They are going to spin this in the media as this was a bloodbath and a referendum on Donald Trump. I want to be clear. I think that is a exaggeration and, and not even close to reality. So we are going to go for you state by state so you understand exactly what was happening, you understand? Yes. I would have loved for us to win in places like Virginia in New Jersey, in New York City, or Proposition 50 in California. But Democrats spent incredible amounts of money in places like Virginia. And there are issues that had a huge impact on Election Day. So let's start in Virginia. As I break down the reality of what you need to know and why I am not that concerned about what this means for the midterms coming up. Virginia was a very interesting race in general. You had a strong Democratic candidate that probably at the end of the day will have outspent the Republican side three to one. You had incredible amounts of outside money coming from outside of Virginia from the Democratic Party, who was desperate for a win. The Virginia governor's race with Spamberger there, it was clear the entire Democratic Party had united with, in essence, unlimited funding to say we have a big win. You may also hear, well, this is huge because a Republican is the governor now and they're rejecting Donald Trump. And that's why they moved to the Democratic Party. One of the things you need to remember about Virginia is that the last time when Governor Youngkin was on the ballot, it was a perfect storm. You had a well funded candidate. And Governor Youngkin, you also had two incredible issues that turned that state to the Republican Party. One of them was the shocking moment that we found out that the public school systems in Loudoun county had covered up a boy dressing like a girl, going into a women's restroom and sexually assaulting a child. We found out that that child was not actually dealt with the right way by the school system. Instead, they just moved that boy to another school where he did the same thing again in a bathroom. What made this even more of a shock for the people that were voting in Virginia last time when Youngkin was running is that the school board didn't listen to the father who called them out and then had him arrested, all caught on tv. This was a flashpoint in Virginia. And you also had something else that happened in Virginia during that time. The Democratic candidate who was running against Glenn Youngkin said that your children are not actually yours, but the state, in essence, owned by the government. That made for a perfect storm and for Governor Youngkin to get his job. We didn't have that this time. In fact, we had a perfect storm for Democrats as they shut down the government on purpose and they noticed that the government shutdown was playing to their advantage in Virginia. Why? Because Virginia has a disproportionately high number of workers who are government workers and aren't receiving a paycheck right now compared to many other states. It's proximity to Washington, D.C. is a perfect example of that. And they understood that if they could keep the government shut down until election day, it was probably going to play well for them on election night. That is exactly what happened. You also have to understand just how liberal Virginia really is at its core. You had a candidate on the ballot there that had been busted in his own words in a text message chain calling for the assassination, the death of a former Republican speaker of the House in Virginia. Not only that, he said it's time for them to feel pain, referring to the children of that elected official, saying they should also be murdered. Not a single Democrat in a major part of the Democratic Party condemned these comments. And that candidate in Virginia also won last night. Which brings me to the overall perspective on Virginia. Would I have loved for Republicans to win this race? Yes. Do I feel like this was a race that is a referendum on Donald Trump or a terrifying moment of what's to come during the midterms? No. So let's move to New Jersey. New Jersey is a little bit different. The New Jersey race there was one that many conservatives thought was a real chance for us to win a governor's race in a liberal state. Unfortunately, it didn't work out that way. It, in fact, it wasn't even as close as many believed it was going to be. Again, this goes back to simple politics and math. Virginia and New Jersey are liberal states. New Jersey even more liberal, you could argue, than Virginia. This is not surprising if you look at the history of voting in New Jersey. I think it's pretty clear in New Jersey as well, where there are a lot of government workers that the shutdown had a big impact for Cheryl to win over Catrinelli. This wasn't a close race, 56 to 43 as the numbers are coming in at 95% reporting right now. It was a beat down. So then you move to New York City, Mandani, it is official now, it is a communist red apple. Comrade Mandani won overwhelmingly there. And even if the Republican spoiler would have dropped out, someone who I called to drop out on national tv and even if you gave all of the Republican votes to Governor, former Governor Cuomo, it still would have not meant there was a victory. What is obvious about New York City is, is one of the most radical left cities in America who now has a communist running the city. A man who said he wanted to abolish the police, believe the police are, is evil and Also said that if Bibi Netanyahu came to New York, he would have him arrested. So this is the reality of the situation. Democrats had three places where they were supposed to win and Democrats had incredible amount of money coming in to win and shut down the entire federal government to make sure they got the win. Finally, we look to California. No surprise there. Gerrymandering is real and it has been for decades. But what California has now done is said that Even though almost 40% of the state is Republican, 90% of its representation will be Democrat. They've redrawn the lines to add five Democratic seats, which will have an impact on Congress. And it passed in the liberal state of California. So what is the takeaway? California is saying to Republicans, get out. Move, Leave. You will not be represented here. We can't stand you. We can't stand what you believe in. We cannot stand your values. And the liberal woke ideology has totally infected the brains of the Democratic movement and the voters in California. It's a really sad moment for the country to see this type of gerrymandering play out. So what is the takeaway from election night in America? You had a communist win in New York City, Democrats having a big night in Virginia, New Jersey, New York and Democrats gerrymandering in California. Am I concerned that this is a foreshadow of what's going to come on the election night during the midterms? I am not. I think these are all places where Democrats were supposed to win. Democrats were inspired to raise money at record levels and give at record levels from outside of these states to make sure that they got the victories. They also shut down the federal government to get these victories. Could you do that and have the same results nationwide? The answer is obvious.
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Ben Ferguson
So am I concerned? Sure, I would have loved for Republicans to have a big win somewhere, but does this mean that this is a total disaster and is a referendum on Donald Trump? No, it's not. And it's clear with Donald Trump's approval rating going up during this government shutdown that he still has a mandate from the American people to make America great again. That is the ultimate takeaway from election night in America.
Thank you for listening to the 47 Morning Update with Ben Ferguson. Please make sure you hit subscribe wherever you're listening to this podcast right now. And for more in depth news, also subscribe to the Ben Ferguson Podcast and we will see you back here tomorrow.
Rodney Williams
I'm Rodney Williams.
Travis Holloway
And I'm Travis Holloway. Welcome to the wealthbreak Podcast, a real.
Ben Ferguson
Conversation about finance let's be honest, building.
Rodney Williams
Wealth doesn't look the same for everyone.
WealthBreak Host
I feel like sometimes being broke is a cycle and that we might have.
Travis Holloway
To revisit that and we're not stopping at success stories.
WealthBreak Host
What happens when it doesn't go right?
Ben Ferguson
How do you cope with it?
Rodney Williams
Because wealth isn't just about money. It's about creating a life where you thrive and help others do the same.
Travis Holloway
Listen to the Wealth Break podcast on the iHeartRadio app.
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WealthBreak Host
This is an iHeart podcast.
Date: November 5, 2025
Host: Ben Ferguson (Premiere Networks)
Location: Jerusalem, Israel
Ben Ferguson delivers a sharp and candid post-election analysis in this episode, pushing back against media narratives framing Democratic victories as a "referendum on Trump." Broadcasting live from Jerusalem, Ferguson breaks down key races in Virginia, New Jersey, New York City, and California. He argues that results in deep-blue strongholds are unsurprising and do not forecast trouble for Republicans nationwide, challenging perceptions of a Democratic sweep and urging listeners to reject media spin.
"Let’s be clear, it was wins in places that Democrats almost always win. They are going to spin this in the media as this was a bloodbath and a referendum on Donald Trump. I want to be clear. I think that is an exaggeration and, and not even close to reality."
— Ben Ferguson
"You had a strong Democratic candidate that probably at the end of the day will have outspent the Republican side three to one... They shut down the government on purpose and noticed that the government shutdown was playing to their advantage in Virginia."
— Ben Ferguson
"You had a candidate on the ballot there that had been busted in his own words in a text message chain calling for the assassination, the death of a former Republican speaker of the House in Virginia... That candidate in Virginia also won last night."
"New Jersey is a little bit different. The New Jersey race there was one that many conservatives thought was a real chance for us to win a governor's race in a liberal state. Unfortunately, it didn't work out that way... Again, this goes back to simple politics and math. Virginia and New Jersey are liberal states."
— Ben Ferguson
"It is official now, it is a communist red apple. Comrade Mandani won overwhelmingly there. And even if the Republican spoiler would have dropped out... it still would have not meant there was a victory."
— Ben Ferguson
"Even though almost 40% of the state is Republican, 90% of its representation will be Democrat. They've redrawn the lines to add five Democratic seats... California is saying to Republicans, get out. Move, Leave. You will not be represented here." — Ben Ferguson
"Does this mean that this is a total disaster and is a referendum on Donald Trump? No, it's not. And it's clear with Donald Trump's approval rating going up... he still has a mandate from the American people to make America great again."
— Ben Ferguson
On Media Spin:
"They are going to spin this... as a bloodbath and a referendum on Donald Trump. I want to be clear. I think that is an exaggeration and, and not even close to reality." (04:37)
On Virginia's Unique Circumstances:
"The government shutdown was playing to their advantage in Virginia. Why? Because Virginia has a disproportionately high number of workers who are government workers and aren't receiving a paycheck right now..." (07:42)
On Political Extremism:
"Not a single Democrat in a major part of the Democratic Party condemned these comments. And that candidate in Virginia also won last night." (08:35)
On California's Gerrymander:
"California is saying to Republicans, get out. Move, Leave. You will not be represented here." (11:15)
On National Implications:
"Could you do that and have the same results nationwide? The answer is obvious. No." (13:12)
Ben Ferguson’s post-election breakdown is resolutely optimistic for conservatives, insisting Democratic wins were expected and driven by outsized spending, targeted shutdowns, and deep structural advantages rather than a broad anti-Trump sentiment. He challenges listeners to ignore the “referendum” narrative and reiterates confidence in Trump’s standing and future Republican prospects. The tone is combative, occasionally sardonic, and unambiguously partisan—offering a counter-narrative to mainstream election coverage.