Ben Shapiro (24:29)
Okay, now again, this sort of attack on Musk, this sort of neo Nazi, he raised his arm stuff is nonsense. But the populist, anti capitalist, anti free market, anti business attitude is going to be extremely common if the economy sinks. That's gonna be a real, real problem. Well, he is not a genius. But you know what is genius? Policy genius. Securing your family's future. It's of utmost importance in today's world. As somebody who's always advocated for smart financial planning, I can tell you having the right life insurance coverage is not just about peace of mind. It's about giving your family options if the unexpected occurs. That's why I want to tell you about policygenius. They're not an insurance company themselves. They are the country's leading online insurance marketplace. They let you compare quotes from America's top insurers side by side, completely free, with absolutely no hidden fees. 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That's policygenius.com Shapiro Also, what does the future hold for business? If you ask nine experts, you'll get 10 answers. Bull market. Bear market inflation. Up, down. Well, until we know for certain what's coming over 38,000 businesses have found a way to future proof their operations with NetSuite by Oracle, the number one cloud ERP. Imagine having your accounting, financial management, inventory all seamlessly integrated into one fluid platform. That's NetSuite. With this unified business management suite, you're not just juggling numbers, you're wielding a powerful tool that gives you visibility and control to make quick, informed decisions. It's like having a map in a maze of market uncertainties, real time insights and forecasting check. It's like peering into the future with actionable data at your fingertips. And here's a game changer. You'll be closing your books in days, not weeks. That means less time drowning in paperwork, more time focusing on what truly matters, steering your business towards success. At the Daily Wire, we're proud to partner with NetSuite because they're leading the way in future proofing operations for businesses around the world. Whether your company's earning millions or even hundreds of millions of dollars, NetSuite adapts to your needs, helping you respond to immediate challenges and seize your biggest opportunities. Speaking of opportunity, download the CFO's Guide to AI and Machine Learning at netsuite.com Shapiro the guide is free to you at netsuite.com Shapiro that's netsuite.com Shapiro now one of the theories here is that one of the things President Trump is trying to do actually is devalue the American dollar so as to BO exports for purposes of fixing the trade deficit. So I went to our friends over at Perplexity and I asked a simple question and Perplexity does a good job of explaining this sort of stuff. Quote what are the effects on the ability of the United States to sell our debt if the value of the dollar drops? Because this is sort of the biggest single question you heard Elon earlier talking about the fact that we pay more interest on our debt than we are currently paying on the defense budget. So what happens to can we raise new debt if the dollar is devalued? And here is Perplexity's excellent answer. Negative effect Reduced foreign demand for US Treasuries A weaker dollar may lower the appeal of dollar denominated assets, including U.S. treasuries for foreign investors. If the dollar depreciates, foreign holders of U.S. debt could face losses when converting interest payments or principal back into their own currencies. This could lead to reduced investment in US debt markets. 2. Higher interest rates to attract buyers for its debt amid declining demand, the US Government may need to offer higher Yields on Treasuries, increasing borrowing costs. Rising interest rates can also exacerbate concerns about debt sustainability and put upward pressure on real yields. 3. Loss of confidence A sustained drop in the dollar's value could signal broader economic instability, potentially triggering a loss of confidence among investors in U.S. financial assets. This could result in a sell off of U.S. treasuries and further depreciation of the currency. In other words, everybody else who's holding our debt thinks that the new debt actually is going to be less valuable than the old debt and they start selling it off. 4. Inflationary pressures A weaker dollar increases the cost of imported goods and services, potentially fueling inflation. Higher inflation erodes the real returns on fixed income assets like Treasuries, making them less attractive to investors. Now, what President Trump could be focusing on theoretically is the positive effects of a weaker dollar. And President Trump talks about how he wants the Federal Reserve to lower the interest rates and inject money into the economy. Increased competitiveness. A weaker dollar makes US exports cheaper and more competitive internationally, which could boost economic growth and improve trade balances over time. However, the reality of a weaker dollar is that America can be competitive without doing that. You don't need to upend America's ability to raise debt by increasing tariffs by lowering the value of the dollar. Those are not things that are necessary right now. We're already in an inflationary spiral. We don't need more inflation on top of all of this. And as Perplexity points out, the major long term effect of would be things like de dollarization. So again, something I was mentioning last week. The entire American economy is reliant on other people buying our debt on a continuous basis to fund our government spending. Countries might diversify away from dollar denominated assets, reducing their reliance on US Treasuries as reserve holdings. And concerns about sanctions or asset freezes might further reduce foreign official demand for US debt. I totally agree with Perplexity's conclusion here that while a weaker dollar could stimulate certain aspects of the economy, it poses risks to the US's ability to sell its debt efficiently by increasing borrowing costs, undermining investor confidence in treasury securities. That is correct. Thanks to our friends at Perplexity for sponsoring that search. Well, again, in the search for some sort of sobriety and stability in the economic space, the Congress right now is looking to push forward a continuing resolution. We spoke with Representative Chip Roy again, a very strong fiscal conservative in Congress, yesterday on the program. Speaker Johnson is now eyeing a House vote today on a six month funding extension that was crafted on a partisan basis. He's going to rely on only Republican votes to pass it in the House and dare Democrats to try to oppose. Looks as though there's a strong shot that it is going to pass. The shutdown countdown is down to three days. Because the shutdown happens on Friday. Many again of the more conservative members of the caucus are on board. There's one who is obviously not going to be, and that, of course, is Thomas Massie, who's reliable. No vote on everything. Like on everything. He's essentially Ron Paul, but from Kentucky. Same voting record, same general worldview, all of it. Well, this prompted President Trump to go after Massie, correctly noting that Massie basically has no interest in governing almost ever. And in a situation like this, what you actually need is Republicans who are willing to govern. Again, the job of being a congressperson is not the same as the job of being a podcast host or the job of being a CNN commentator or something like. It is literally your job to try and go for 80% of the pie. This is why, again, I think the chip Roy does a good job of this Chip actually tries to push the ball as far as it will go while recognizing that the ball eventually is gonna have to be kicked right. Something's gonna have to happen. He will push the line as far as he can without falling into the trap of just saying no to everything. Well, President Trump put out a statement yesterday saying that he will lead the charge to oust Thomas Massie for his refusal to support the government funding bill. He put out a truth social post. He said, congressman Thomas Massie of beautiful Kentucky is an automatic no vote on just about everything. He said Massey should be primaried and I will lead the charge against him. Now, Trump had also prior times tried to unsuccessfully oust Massie. Massey responded by saying, I've had a challenger who tried to be more maggot than me three times. None busted, 25% because my constituents prefer transparency and principles over blind allegiance. Again, totally fair for Massey there. However, it is a reality that Massey is reliable. No vote on everything. That would be sort of effective for Republicans to do. And even though I agree with Massey actually more than many other Republicans on his generalized spending proposals, is Trump wrong to target Massey about all of this? I mean, if the continuing resolution fails and we get to Friday and the government shuts down, the downside effects are going to be very, very strong for the Republicans, including Republican Congress. And it's easy for Massie to say since he's not in a purple district. He's not somebody who's gonna battle his way back to the. Back to the Congress. His district is like a plus 20 Republican district. So all of this, you would think, might provide an opening to Democrats. Right? This would be the moment where Democrats start to make their economic pitch. Oh, look at the oligarchic Republicans with their business ties, and yet they're sending your 401k spiraling down. Right? This would be like, if you were a smart Democratic politician, this is the thing you would be doing. Correct? You'd be focusing in like a laser beam on the economy, because if the economy continues to decline, if we fall into recession, that's gonna be your move. And yet Democrats are apparently complete idiots. They fell off the stupid tree and hit every branch on the way down because they are focused in laser, like on the defense of a Hamas sympathizer whose green card is going to be removed. This is the thing they have decided is absolutely vital for them to stand against. It's unreal. I mean, seriously, it's just political malpractice at this point. So this person's name is Mahmoud Khalil. Yesterday, the White House announced that they would be moving to deport Mahmoud Khalil. Who the hell is that Mahmoud Khalil? Well, he's an anti Israel, pro Hamas activist, and he's an actual pro Hamas activist who led protests at Columbia University when all those buildings were occupied and the Tentifada was taking place. It was announced by the White House that ICE would be arresting him and removing him. The White House put out a meme reading Shalom Mahmoud, which, of course is a reference to President Trump's statement Shalom Hamas, telling Hamas they needed to give up all the hostages or they would cease to exist. Obviously, the connection there has to do with the fact that this person is extraordinarily pro Hamas. President Trump said, we will find, apprehend, and deport terrorist sympathizers from our country, never to return again. Which seems like a pretty commonsensical policy that if you're here on a green card and you support terrorism, probably you shouldn't be here. We don't need you here. According to the Wall Street Journal, Columbia University student Mahmoud Khalil was the first to be arrested by Homeland Security agents for his participation in pro Palestinian demonstrations on campus. President Trump vowed he would not be the last. And again, that is a misread by the news department at the Wall Street Journal, which is to the left of the New York Times. He was not arrested because he went to a pro Palestinian demonstration. He was arrested because he has active ties to groups that openly support Hamas. That would be the reason Trump said in a social media post, quote, we know there are more students at Columbia and other universities across the country who have engaged in pro terrorist, anti Semitic, anti American activity. The Trump administration will not tolerate it. The Education Department said Monday it sent letters to 60 schools warning of potential enforcement actions if they don't fulfill obligations to protect Jewish students. And again, that is an outgrowth of the Civil Rights act, which lays out that all these colleges have anti discrimination policies on the basis of race. That applies to black students, white students, Jewish students, Arab students, everybody. So you can't selectively fail to enforce the law when it comes to the Jews is sort of the point that Trump has made. Khalil played a prominent role in organizing protests last year against the war in Gaza, often addressing crowds on Colombia's lawn and giving interviews to national media. He was inside the Barnard Library during an occupation last week to protest the expulsion of two students for earlier demonstrations, according to photographs posted on social media. But that is not actually the full story about Mahmoud Khalil and the people he has associated himself with. Secretary of State Marco Rubio put out a statement. We'll be revoking the visas and or green cards of Hamas supporters in America so they can be deported. The Homeland Security Department put out a statement as well. Quote, on March 9, 2025, in support of President Trump's executive orders prohibiting anti Semitism, and in coordination with the Department of State, U.S. immigration and Customs Enforcement arrested Mahmoud Khalil. A former Columbia University graduate student, Khalil led activities aligned to Hamas, a designated terrorist organization. Again, there's a difference between pro Palestinian and aligned with Hamas, although distinction has been obliterated by the pro Palestinian crowd who have largely aligned with Hamas at this point. So what are exactly beyond him saying bad stuff? What exactly is the thing that's getting him in trouble here? Well, it turns out that the group that he headed, Columbia University, Apartheid Divest, withdrew an apology that it made for a member who said Zionists don't deserve to live. Columbia University Apartheid Divest, which is this, this guy's group, put out a statement. This is according to the New York Times, October 9, 2024, quote, we support liberation by any means necessary, including armed resistance. That's not just pro Palestinian, that is pro Hamas. That is what you are talking about. They then distributed a newspaper with a headline that used Hamas's name, quote, one year since Al Aqsa flood. Revolution until victory. It read over A picture of Hamas fighters breaching the security fence to Israel. The group posted an essay calling the attack a moral, military and political victory. I mean, that's pretty pro Hamas. That's not like pro, that's like pro a terrorist group. And again, if you're an American citizen and you do this sort of stuff, that's one thing. If you're a green card holder, why do we need you here? Green card does not give you the right under American law to actively orient yourself toward terrorism. That is not a thing. When the founders were constructing the Constitution, they're not like, let's bring people from abroad who hate America and love terrorism. That was never considered a right under American law. The group wrote on October 7, 2024, quote, The Palestinian resistance is moving their struggle to a new phase of escalation. It is our duty to meet them there. It is our duty to fight for our freedom. That'd be Hamas that this person is talking about. So again, the New York Times recognized at the time, this is before the election, that this could lead to federal investigations into campus anti Semitism or on campus discipline if these were deemed to create a hostile environment for Jewish students. Now, again, it's more than that. It turns out that Khalil's group, the Columbia University apartheid divestiture, was one of 150 pro terrorism groups identified by journalist Ryan Morrow over at Capital Research. Khalil's group says that it is, quote, fighting for a total eradication of Western civilization. It also asked for help from violence extremists abroad. Quote, we seek instructions from militants in the global South. Khalil's group said, we in America must be killed, jailed and tortured and targeted in order to genuinely threaten the state. As part of the global intifada. He suggested the only way to respond to state repression is to storm prisons and release prisoners and burn down prisoners, prisons, government offices and state vehicles. That's Khalil's group. I mean, like, I don't know how much clearer your sympathy for Hamas has to get in order for you to, you know, violate the law. So what does the law actually say on this? What exactly does the law actually say? Well, good news. We actually know what the law says. According to Immigration and National act section 212, there are a number of grounds for ineligibility for a green card or immigration based on security grounds. That includes, quote, anyone who endorses or espouses terrorist activity or persuades others to endorse or espouse terrorist activity or support a terrorist organization. So Yeah, I mean, that the Supreme Court has ruled back in 1904 that anarchists, for example, could be barred from the United States Congress of the opinion that the tendency of the general exploitation of such views is so dangerous to the public wheel that aliens who hold and advocate them would be undesirable additions to our population. Again, there's a section of the INA that grants the State Department broad authority to deport any alien, quote, whose presence or activities in the United States, the Secretary of State has reasonable ground to believe would have potentially serious adverse foreign policy consequences for the United States. And that is exactly the authority that Secretary of State Rubio is citing in this guy's deportation. So you're hearing the sob stories from the left. He said it. So what did the Senate Judiciary Democrats do again? The stock market tanked to the tune of 900 points yesterday, and it has tanked to the tune of a significant percentage of the stock market's total value since the election. So what are Democrats focused laser like on their hero of the day, Hamas open. Hamas sympathizer and pseudo revolutionary, Mahmoud Khalil. They put out a tweet, the Senate Judiciary Democrats, with a picture of this guy that said, free Mahmoud Khalil. So, just to get this straight, Democrats would not cheer last week for the family of Lake and Riley. They would not stand up and applaud the family of Jocelyn Nungarry was killed by illegal immigrants, but they are going to stand four square behind a terrorist sympathizer who used to work for the UNRWA when not calling for the overthrow of Western civilization. They're gonna cheer for that guy. He has to stay in the United States. Guys, the political malpractice here is so strong. The Democrats here are so bad, so unbelievably bad at this. Truly, truly awful at this. Now a judge has temporarily blocked the deportation. He's gonna get overruled. This judge also happens to be brothers with Jason Furman, member of the Obama administration. Most of his relatives work in, like, deep blue American institutions and all the rest. Van Jones, perhaps the last sane man on the Democratic side of the aisle. He was pointing out, like, guys, what are you doing? Like, what are you doing?