12.23.24 A look at four Supreme Court cases, avoiding a government shutdown, and celebrating Christmas during war

Summary

The World and Everything In It – Episode Summary (December 23, 2024)

The World and Everything In It, produced by listener-supported WORLD Radio, delivers comprehensive news coverage grounded in biblical values. In this episode, host Mary Reichert and co-host Nick Eicher delve into four pivotal Supreme Court cases, analyze the successful avoidance of a government shutdown, and reflect on the enduring spirit of Christmas amidst warfare. Additionally, financial analyst David Bonson provides insights into the Capitol Hill spending impasse and its repercussions on global markets.

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1. Supreme Court Focus: Four Landmark Cases

The episode begins with an in-depth exploration of four critical Supreme Court cases, each presenting unique legal challenges and implications.

a. Velasquez v. Garland

Issue: Interpretation of legal deadlines when they fall on weekends or holidays.

Gerard Cedron, representing Velasquez, argues, “[11:47] The 60-day time period in the voluntary departure statute works like any routine legal time period. When the last day falls on a weekend or holiday, the period continues to run until the next business day.” Conversely, Assistant Solicitor General Anthony Yang contends, “[12:00] The requirement to arrange for travel and to depart the United States involves primary conduct. ... no tradition ... exists for extending statutory deadlines for primary conduct.”

Justice Neil Gorsuch lightens the debate by comparing regulations to “garlic in front of a vampire,” humorously suggesting resistance to the government's stance ([12:46] Nick Eicher). Despite differing viewpoints, the majority appeared sympathetic to Velasquez, highlighting his two decades in the U.S., family ties, and lack of criminal history.

b. Williams v. Washington

Issue: Mandatory exhaustion of state processes before federal court involvement.

This case questions the fairness of requiring plaintiffs to navigate potentially slow state procedures prior to seeking federal intervention. Although discussed briefly, the implications revolve around the accessibility and efficiency of the legal system for citizens seeking justice.

c. Nvidia Corporation v. Eoman

Issue: Allegations of shareholder deception regarding the company's reliance on crypto mining sales.

The Supreme Court dismissed this case, with Justice Sonia Sotomayor stating, “[14:57] I'm not actually sure what rule we could articulate that would be clearer than our cases already say.” The dismissal underscores the Court's preference for cases with broader applicability over those deemed too fact-specific.

d. EMD Sales v. Carrera

Issue: Standards of proof for overtime pay eligibility under the Fair Labor Standards Act (FLSA).

Lawyer Lauren Bateman advocates for a "clear and convincing" standard, emphasizing the FLSA's role in protecting workers' fair compensation ([17:28] Gerard Cedron). Justice Clarence Thomas challenges this by comparing it to other discrimination cases, questioning why overtime disputes warrant more stringent proof ([18:33] Mary Reichert). The Court ultimately deferred to the lower court's interpretation, recognizing the profound impact on over 140 million employees and millions of businesses nationwide.

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2. Government Shutdown Avoided: Analyzing the Spending Extension

Mark Mellinger reports on the recent political maneuvering that averted a government shutdown. The U.S. Congress approved a spending extension extending federal operations until March, effectively delaying fiscal negotiations. President-elect Donald Trump's involvement was pivotal; he maintained close communication with key figures, including Speaker Mike Johnson and business magnate Elon Musk.

David Bonson provides economic analysis, noting the complexity introduced by Trump's active role and the potential challenges ahead. “[23:08] If they've had this kind of problem with a reasonably small task, then I think it should be indicative that there's going to be more issues ahead.” Bonson warns that the political tensions could impede future legislative agendas, affecting both domestic policies and international relations.

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3. Monday Money Beat: Market Implications of Political Struggles

David Bonson discusses the financial ramifications of the Capitol Hill spending impasse and its influence on global markets. He highlights the historic nature of the market's losing streak, emphasizing that an 1,100-point drop may appear less drastic when viewed as a percentage but remains concerning for investors:

[25:00] “Both sides of this lesson need to be understood for market actors, for investors... Things that go up very quickly can go down very quickly.” – David Bonson

Bonson also addresses the current fascination with artificial intelligence (AI) in the markets, drawing parallels to past market "shiny objects" like remote work technologies and SPACs. “[27:08] The biggest shiny object is AI... it can't become a big deal without a graveyard of companies along the way that fail..." He cautions investors about overconfidence in AI’s immediate transformative potential, suggesting a period of volatility and recalibration akin to previous technological revolutions.

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4. Celebrating Christmas Amidst War: Historic Truces of Peace

Paul Butler narrates compelling historical accounts of Christmas truces during World War I and World War II, illustrating the profound humanity that can emerge even in the bleakest times.

a. World War I Christmas Truce (1914)

On Christmas Eve 1914, Allied and German soldiers along the Western Front observed an unprecedented ceasefire. Private Marmaduke Walkington recounts the mutual decision to "no shoot," leading to soldiers exchanging gifts, sharing food, and engaging in informal soccer matches ([32:44] David Bonson). Despite initial skepticism from high command, this spontaneous act of peace became a legendary testament to the soldiers’ shared humanity.

b. World War II Christmas Truce (1944)

Thirty years later, amidst the Battle of the Bulge, American and German soldiers stumbled upon each other in a forested area. Fritz Wienken recalls how his mother welcomed the weary soldiers, leading to shared meals and prayers ([35:30] Nick Eicher). This encounter, documented in Wienken’s short story Truce in the Forest, underscores the enduring desire for peace and understanding, even among active combatants.

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Conclusion

This episode of The World and Everything In It offers a multifaceted exploration of pivotal legal battles, political strategies to sustain government operations, and heartwarming historical narratives that remind us of the innate human longing for peace. Through expert analysis and poignant storytelling, WORLD Radio continues to inform and inspire its audience with sound journalism grounded in biblical truth.

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Notable Quotes:

• “The government loves its regulations, except when it doesn't.” – Mary Reichert [00:05]
• “It's sort of like garlic in front of a vampire. You don't want to have anything to do with them.” – Nick Eicher [00:10]
• “The clear and convincing standard of proof is necessary to carry out the explicit public purpose of the Fair Labor Standards Act.” – Gerard Cedron [17:28]
• “Things that go up very quickly can go down very quickly.” – David Bonson [25:00]
• “We have to help, or rather work with our interim authorities officials to make.” – Roger Karsten [03:29]

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For more insightful discussions and expert analyses, tune into The World and Everything In It on Apple Podcasts.

Transcript

[Mary Reichert]

Good morning. The government loves its regulations, except when it doesn't.

[Nick Eicher]

You're running from your regulations. I mean, it's sort of like garlic in front of a vampire. You don't want to have anything to do with them. That's ahead today on Legal Docket. Also today, the Monday Money beat. Economist David Bonson is standing by. I'll ask him what message the Capitol Hill spending kerfuffle has on markets and the world history book today. Christmas in a time of war.

[David Bonson]

A German said tomorrow you no shoot, we no shoot. And the morning came and we didn't shoot and they didn't shoot.

[Mary Reichert]

It's Monday, December 23rd. This is the world and everything in it. From listener supported World Radio, I'm Mary Reichert.

[Nick Eicher]

And I'm Nick Eicher. Good morning.

[Mary Reichert]

Up next, Mark Mellinger with today's news.

[Mark Mellinger]

Two American Navy pilots have survived a friendly fire shoot down over the red Sea. The US military says the USS Gettysburg mistakenly fired upon and hit the F A 18 Sunday with both pilots aboard the plane. They ejected and are okay, though one has minor injuries. The US has stepped up its military presence in the area over the past year, conducting airstrikes to counter attacks on commercial ships by Iran backed Houthi rebels in nearby Yemen. That is Houthi military spokesman Yahya Sari claiming responsibility for Sunday's shoot down, saying without evidence that Houthi forces foiled a US UK Attack on Yemen. Saari has made several false claims about striking U.S. military assets in the past. The Pentagon won't say what the shot down pilot's mission was or how their plane could have been mistaken for an enemy aircraft or missile. Leaders on both sides of America's political aisle are hopeful Israel and the terror group Hamas are closer to a ceasefire than they have been in months. Last week, both Israel and Hamas expressed optimism that a deal could be reached soon to free the hostages and end the fighting in Gaza. President elect Trump's pick for national security adviser, Congressman Michael Waltz, told Fox News Channel's Sunday morning Futures. We are cautiously optimistic that deal making.

[Nick Eicher]

Is happening right now as we speak.

[Mark Mellinger]

People involved in the talks say the two sides are trying to work through key sticking points. In the meantime, the fighting continues in Gaza, where Israeli airstrikes killed at least 22 people over the weekend, according to Palestinian health officials. A top envoy from the White House is in Syria keeping the search for the missing American journalist Austin Tice on the radar of the country's new leaders. Tice disappeared in Syria 12 years ago. The Biden administration says it is committed to bringing him home after rebels overthrew Syria's totalitarian leader Bashar al Assad this month, U.S. special Envoy for Hostage Affairs Roger Karstens tells CBS's Face the Nation we have to help, or rather work with our interim authorities officials to make.

[Mary Reichert]

Sure that we do a good search.

[Mark Mellinger]

So that I can one day look Deborah Tice in the eyes and tell.

[Nick Eicher]

Him that our search has been exhaustive.

[Mark Mellinger]

Deborah Tice is Austin's mother. The White House says it believes Austin Tice is still alive, but has not elaborated. The man accused of ramming his car into a Christmas market, killing at least five people and hurting 200 more in Germany last week had been making increasingly hostile online comments and threats. German leaders say they'd received and followed up on several tips, including via social media that Talib al Abdulmosion was expressing radical views, CNN reports. Germany also received warnings from officials in the suspect's native country, Saudi Arabia. Counterterrorism analyst Dr. Hans Jakob Schindler says when troubling online comments emerge, governments need more direct help from social media platforms.

[David Bonson]

Whatever how many resources the German or other security forces have in Europe, they will never be able to police the entire Internet. We need those companies to help the security forces, highlighting radicalization processes that they enable with their algorithms that lead to violence.

[Mark Mellinger]

The suspect, a 50 year old psychiatrist who'd lived in Germany since 2006, had expressed dissatisfaction with the country's treatment of refugees. In May, he posted on X that German terrorism will be brought to justice. It's very likely that I will die this year in order to bring justice. President Elect Trump is floating the idea of the US Taking back control of the Panama Canal. Should that happen, Trump says this complete.

[David Bonson]

Rip off of our country will immediately stop. It's going to stop.

[Mark Mellinger]

Those comments came Sunday at Trump's first major rally since winning back the presidency. He says the US Is being charged excessive rights to use the passage between the Atlantic and Pacific oceans. Panama's president rejected Trump's comments as an affront to Panamanian sovereignty. The US and Panama jointly administered the canal from the late 1970s to 1999, when Panama took over control. During his speech at a Turning Point USA event in Arizona, Trump also pledged to seal the U.S. borders, create a booming economy and quickly settle wars in Ukraine and the Middle East. The accused killer in this month's fatal shooting of UnitedHealthcare CEO Brian Thompson faces arraignment on state charges in New York today. That means the state will officially inform Luigi Mangione of the charges he faces, including first degree murder as an act of terrorism. He's also facing federal charges. Those carry possible punishments of life in prison or the death penalty. Investigators say a notebook found on Mangione contained threats against the health insurance industry and outlined plans to target a CEO, former FBI agent Peter Licata.

[David Bonson]

We always talk about motive, opportunity, means.

[Mark Mellinger]

All three of those elements are addressed.

[David Bonson]

And captured in the criminal complaint as.

[Mark Mellinger]

Well as his notebook, and they seem to match up. Mangione remains in a federal detention facility. His trial on the state charges is expected to happen before his federal trial. I'm Mark Mellinger. Straight ahead, the Supreme Court considers a case when legal deadlines fall on weekends or holidays. Plus, the Monday money beat with David Monson. This is the world and everything in it.

[Mary Reichert]

It's the world and everything in it for this 23rd day of December, 2024. We're so glad you've joined us today. Good morning. I'm Mary Reichert.

[Nick Eicher]

And I'm Nick Iker. Well, we're down to our final days in the year end giving drive and I have to say it has been quite a year for us at World.

[David Bonson]

The flooding is devastating.

[Nick Eicher]

At the end of September, we were chased out of our home base in Asheville, North Carolina in tiny Biltmore Village as the remnants of Gulf Hurricane Helene stalled out and overwhelmed a flood prone river nearby, the Swannanoa. The local TV station is wlos.

[Mary Reichert]

We're waiting to see the damage in Biltmore Village.

[Nick Eicher]

Biltmore Village is underwater. So this should all still be treated.

[Paul Butler]

As an active natural disaster.

[Mark Mellinger]

We've already planned. We have National Guard soldiers, we have swift water rescue teams.

[Mary Reichert]

At 3 this afternoon, the Swannanoa river crested in biltmore more than 5ft over the previous record.

[Mark Mellinger]

And it didn't take a lot of wind to knock these trees down.

[Mary Reichert]

All roads in western North Carolina should be considered closed.

[David Bonson]

Now we want to emphasize this storm is far from over.

[Nick Eicher]

Historic flooding, high winds and more heavy.

[David Bonson]

Rain as Helene makes its way to the mountains.

[Mary Reichert]

We're going to go live now to.

[Candace Waters]

Gracie Matisse there in Biltmore Village.

[David Bonson]

Look at how fast that water is rushing over there.

[Mark Mellinger]

I mean we just saw this water.

[David Bonson]

Carry an entire propane tank. Oh, wow, look at that. That is a dumpster that is just being carried by the water.

[Mark Mellinger]

So powerful, powerful water there.

[David Bonson]

We've been constantly having to move our car up to get to higher ground.

[Nick Eicher]

Getting to higher ground indeed. That was the name of the game. And our friends at Evangelism explosion situated as they are on higher ground in western North Carolina. Well, they offered to share space with us, office space, studio space. And several of our people in Asheville are still using those fac. Thankfully, when disaster struck, we did have enough staff off site that we didn't miss a beat. We just kept on publishing. We stayed on the air. We didn't miss even a single deadline. When we put out that SOS call for help on the Monday after the flood, many listeners and readers and viewers of world were kind to respond with such generosity that we actually had to ask you to stop after just a few days. If you remember that we had collected what we thought we would to replace destroyed equipment and take care of emergencies. And we are so grateful for that.

[Mary Reichert]

Oh yes we are. And it's now more than two months later and here we are in the closing days of our year end giving drive. Now we have the same needs we always have had in bringing you sound journalism grounded in facts and biblical truth. So if you're a regular giver and you gave in October, again, thank you, we're so grateful. But we are asking if you can, to still participate in the year end giving drive.

[Nick Eicher]

Well, that's exactly it was asking simply to cover immediate emergency expenses due to the destruction of our offices and studios. But our year end campaign, well, that's about the resources to continue to do the job. So if you can help, we do still need you. So if you could please today visit.

[Mary Reichert]

Wng.Org yearendgift that's wng.org yearendGift and a sincere thanks from all of us. Well, tomorrow is Christmas Eve. So imagine you had an important legal deadline that fell on that day or Christmas day, or even on a weekend you know the government is closed. But would you assume the real deadline was the next business day?

[Mark Mellinger]

We'll hear argument first this morning in.

[Nick Eicher]

Case 23929, Velasquez v. Garland.

[Mary Reichert]

Mr. Cedron, this case is about exactly that. And given that the case is at the US Supreme Court, it's not such a straightforward set of questions.

[Nick Eicher]

Hu Mansalvo Velasquez came to the US as a teen in 2005 from Mexico. When US authorities began the process of deportation, they also granted him voluntary departure. Meaning you can do this the easy way or we can do it the hard way. And part of the hard way was a 60 day deadline. On the easy way, day 60 was a Saturday. Here is lawyer Gerard Cedron.

[Gerard Cedron]

The 60 day time period in the voluntary departure statute works like any routine legal time period. When the last day falls On a weekend or holiday, the period continues to run until the next business day.

[Nick Eicher]

His point was that a long standing legal principle ought to apply. If a deadline falls on a weekend, you get until the next business day. But the government's lawyer was not having it. Here is Assistant Solicitor General Anthony Yang. Section 1229, maximum 60 day period for voluntary departure is not extended when the last day falls on a weekend or a holiday. The requirement to arrange for travel and to depart the United States involves primary conduct. In the real world, nothing prevents departure on weekends or holidays when many prefer to travel. And unlike context involving the timing of litigation based or administrative acts before courts or agencies, no tradition, by rule or otherwise potentially exists for extending statutory deadlines for primary conduct.

[Mary Reichert]

Justice Neil Gorsuch injected some levity into an otherwise dry debate in this exchange with Yang.

[Nick Eicher]

But your regulation is clear. It says all any. And you've had this regulation for a very long time. And normally the government really likes its regulations. It used to come up here and say we have to defer to them. Now it comes up here and says we should give them great respect when they're contemporaneous and long standing, which. Check both those boxes here.

[Mark Mellinger]

Right.

[Nick Eicher]

So you're running from your regulations. I mean, it's sort of like garlic in front of a vampire. You don't want to have anything to do with them. Well, I don't know that that's quite right.

[Mary Reichert]

Justice Samuel Alito pointed to practicalities.

[David Bonson]

Why can't they say you've got to.

[Nick Eicher]

Get out of the country in 60 days?

[David Bonson]

You can get out of the country just as easily on a Saturday or.

[Nick Eicher]

A Sunday as you can on a Monday. Still, most of the justices seemed sympathetic to Velazquez. He's lived in the US for 20 years. He runs an auto detailing business. He has two kids who were born here and there is no record of criminality.

[Mary Reichert]

Maybe we need to make the obvious point that he's still fighting this deportation and he has been since he basically defied the order to leave back in 2011. He's been fighting in court ever since. Lower courts have ruled in contradictory ways on this very basic question of the deadline. So of course it wound up at the Supreme Court. All right, this next one I'll just mention very briefly, Williams v. Washington. This one asks about exhaustion and not the Christmas shopping kind of exhaustion, but rather the legal hoops you must jump through before suing in court. Exhausting all of those. First, the case asks whether it's fair to demand state processes be fully exhausted before heading to federal court even when the state is maddeningly slow to process those claims.

[Nick Eicher]

All right, that was brief and not really exhausting at all. Mar the next dispute, which may yet prove exhausting. Nvidia Corporation vs. Eoman. The court dismissed the case after oral argument. And that was no surprise, really, given how the justices kept making the same point again and again, like this one from Justice Sonia Sotomayor.

[Mary Reichert]

I'm not actually sure what rule we could articulate that would be clearer than our cases already say.

[Nick Eicher]

The case involved shareholders who claimed that the chipmaker Nvidia misled them. They say the company concealed how much it relied on sales from crypto mining and not its core business of gamers, and that affected the value of the stock. Nvidia is publicly traded. Now, the high court likes to resolve big legal questions so that its rulings apply down the line to all sorts of other cases. But sometimes cases are just too fact specific and seem not to have broad applicability. That's this case. So the justices punted the dispute back to the trial court to try to sort it out.

[Mary Reichert]

All right, moving right along to case four. This is our final one today, EMD Sales v. Carrera. It's a case about overtime pay and who gets it. The question is around the standard of proof. Is it enough for bosses to show workers probably don't qualify for overtime pay? Or do they have to put on clear and convincing evidence the company says it needs only tip the balance to 51% certainty, a preponderance of the evidence. Here's its lawyer, Lisa Blatt.

[Gerard Cedron]

For over a century, this court has held that the default standard in civil cases is preponderance of the evidence. That default rule should resolve this case. Nothing in the text suggests that Congress intended a clear and convincing evidence standard to apply to the 34 exemptions under the Fair Labor Standards Act. This court has reserved the clear and convincing standard to deprivations by the government of critical rights that don't involve money damages.

[Nick Eicher]

Here, the workers were sales reps for a company that distributes groceries in the Washington, D.C. area. Management negotiates the really big sales with grocers. So the workers here mostly restocked shelves, took care of in store displays and stopped in on grocers on their routes. They did make occasional sales, but that was not a major part of the job. Outside sales jobs are considered exempt from overtime pay given their actual job duties and the fact they often put in 60 hours per week. The workers sued under the Fair Labor Standards act, arguing they really aren't Exempt from overtime pay.

[Mary Reichert]

Their lawyer argued that employers have to meet a tougher standard of proof because fair wages are a big deal. Here's lawyer Lauren Bateman here, application of.

[Gerard Cedron]

The clear and convincing standard of proof is necessary to carry out the explicit public purpose of of the Fair Labor Standards Act. The preponderance of the evidence standard falls short of that purpose because it allocates the risk of factual error equally between employers and workers. But the FLSA is not your typical civil statute where only individual monetary damages are at stake. And so as far as the public is concerned, the interests of plaintiff and defendant are in equipoise. Instead, it's a statute that protects both the workers right to a fair day's pay for a fair day's work, but also the public's right to an economic system that doesn't depend on and inexorably lead to the impoverishment and immiseration of the American worker. It's also appropriate because employers are likely to possess and control evidence relevant to these kinds of factual determinations, and employers can and sometimes do manipulate evidence in their favor, such as job descriptions or titles. Unchecked, these factors lead to disproportionate errors of fact finding in favor of employers. Thus, it's sensible to insist that where an employer seeks to prove that an employee is exempt from these protections, the employer must do so clearly and convincingly.

[Mary Reichert]

Justice Clarence Thomas had a pointed question. Why should FLSA be treated more advantageously.

[David Bonson]

Than the discrimination cases?

[Nick Eicher]

Justice Alito took it further. Why, he asked, do we suppose that proof in overtime disputes is more important than proof in other disputes over money? The government provides lots of benefits that are critically monetary benefits that are critically.

[Paul Butler]

Important to some people.

[David Bonson]

Would you have us say that none.

[Nick Eicher]

Of those can rise to the level of importance that is present when what's involved is overtime payments under the flsa?

[Gerard Cedron]

I think that now necessarily this is a question left to the judiciary to ascertain in a case by case basis.

[David Bonson]

But yeah, well, how would we go about doing that?

[Nick Eicher]

Say it's the termination of welfare benefits. Is that less important than this?

[Gerard Cedron]

Certainly not. But I think one operative question is whether those rights are waivable by the individual. And because they're not waivable in the FLSA context, that is an indicator that there's a broader remedial scheme at issue than just individual monetary damage.

[Nick Eicher]

What about revocation of six federal circuits already use that more likely than not preponderance standard the employer wants. But the Fourth Circuit, where this case originates, requires employers to meet the higher standard of proof that is clear and convincing, something like 75% level of certainty.

[Mary Reichert]

This case has bounced around the courts for seven years now and it matters way beyond just the facts here. However, the court decides about exempting employees in sales positions. It'll affect all other exemptions within the Fair Labor Standards act as well. That affects about 10 million businesses in this country employing more than 140 million people. And that's this week's legal docket.

[Nick Eicher]

Additional support comes from Asbury University. Enrollment is now open for January online grad and undergrad classes. Asbury where Christ is central. And from season two of Eyewitness Silent Night, the student led podcast drama following time travelers to the first Christmas on podcast apps or at the letter I witnesspod.com.

[Mary Reichert]

Coming up next on THE world and everything in it, the Monday Money beat.

[Nick Eicher]

Time now to talk business markets and the economy with financial analyst and advisor David Bonson. David heads up the wealth management firm the Bonson Group. He is here now. And good morning to you, David.

[David Bonson]

Well, good morning, Nick. Good to be with you.

[Nick Eicher]

Well, I don't think we've ever seen an orderliness to these end of year, end of session scrambles in Congress, David, all of the brinkmanship around approving government spending and averting a government shutdown. But that said, you know, this seemed especially chaotic this year with a president elect waiting not in the wings really, but a lot more out front and center. And then of course, a high profile advisor who happens to be, you know, the richest man in the world. Have a quick list to the speaker of the House, Mike Johnson, after Congress okayed a spending extension that kicks the can down the road as far as March. Not clear how much money it is exactly, but suffice it to say, it's a lot. I was in constant contact with President Trump throughout this process. Spoke with him most recently about 45 minutes ago. He knew exactly what we were doing and why. And this is a good outcome for the country. I think he certainly is happy about this outcome as well. Elon Musk and I talked within about an hour ago and we talked about the extraordinary challenges of this job. And I said, hey, you want to be speaker of the House? I don't know. He said this may be the hardest job in the world. I think it is. Wow. Even keeled guy, the speaker. But David, what do you think trouble in paradise here?

[David Bonson]

Well, I think that you're right and I don't think people should be surprised. There was probably a little honeymoon phase after the election results that was never likely to be sustained. Now, that's not to say that things are completely and totally broken and that the entire agenda of Trump 2.0 administration has been derailed. It is though, from the vantage point of markets, a clear indicator that much of the stuff on the agenda, including things we've talked about on this very program, are highly unlikely to happen with the simplicity and ease that many had hoped for. Getting this budget impasse situation handled this week is a reasonably small task compared to some of the things that are ahead. And if they've had this kind of problem with a reasonably small task, then I think it should be indicative that there's going to be more issues ahead. Now, some of the tension between certain people, whether it's Speaker Johnson, Elon Musk, other key congressmen, congresswomen, of course, the president himself, the vice president, and let's not forget that bills don't become law without the Senate as well. And senators are much more immune to the political pressures of the White House than congressmen are just by nature of a six year term versus a two year term. So there's going to be some rocky roads ahead for a lot of this stuff. That's not to say that all of it won't come together. It's just not going to be as easy as people hoped.

[Nick Eicher]

Well, David, you wrote about this in Dividend Cafe, addressing the long losing streak in the markets, but making the point that an 1100 point drop mathematically isn't quite as much as it seems when you consider it as a percentage. But still, David, a losing streak is a losing streak.

[David Bonson]

Well, I do actually think that this week's Dividend Cafe is a pretty good one for world listeners to check out because both of those points are made that when you're talking about, you know, an 11 day in a row down streak in The Dow that's 50 years old, the record, you have to go back 50 years. That is something, you know, you had a bit of a comeback in the market on Friday, but nevertheless, you're still looking at a couple thousand points down. You're still looking at being higher than you were before the election. So both sides of this lesson need to be understood for market actors, for investors, for those looking to the market as if it were some kind of indication about what's happening in the economy. Things that go up very quickly can go down very quickly. And do people believe that the fundamentals and the real life situation changed that quickly up and down, or do they believe it more reflects, I use the word stupidity, but just the silliness the emotions, too much euphoria behind an election result that many people liked, too much panic behind other, you know, setbacks, and then just I think an under a misunderstanding of the way where we are in the cycle. Nick, things are very expensive in markets and so they don't require a good reason to go up or go down. And those things will happen quickly at times, as we've seen here in the last couple weeks.

[Nick Eicher]

All right, let's talk about shiny objects, David, that seem to mesmerize the markets at times. I remember a few years ago all the rage was anything that facilitated remote work. And I remember how you said that so many of these things were way overvalued and gave as an example Peloton, what you called an exercise bike with an iPad built in. This attracted billions of dollars in investment. But now the new shiny object in the markets is everything AI, artificial intelligence. Do you think we're looking at the same phenomenon?

[David Bonson]

Well, look, it is not quite like it was in 2022, where a lot of the shiny object critique I had was around things that were inexplicably stupid. The $50 billion valuation on an exercise bike with an iPad that quickly became a $1 billion valuation. It was hyper predictable. And a lot of these so called SPACs, which were single purpose acquisition companies that go public easy, they were not viable companies worthy of their valuation. The work from home moment, I get a lot of things wrong even as a financial professional. But, but my insistence that we were not changing, in some cases tens of years, in some cases thousands of years of human behavior out of the pandemic and that the way that people were looking at companies like Zoom and Doordash and obviously Peloton fit in there too, that you know, the world was going to reopen and market prices should reflect that, you know, some temporary changes were going to be just that temporary. So that stuff got kind of corrected in 2022 and unfortunately it did it to people who didn't know better. But now I think what you're dealing with is a little different in that the biggest shiny object is AI. This is the issue that is all at once going to be a big deal and yet going to inflict a lot of damage on people along the way in markets. Because it can't become a big deal without a graveyard of companies along the way that fail without miscalculation as to what the big deal actually looks like, what the real use will end up being. The way in which some of these big technological advancements of the last 25 years have played out. I can't think of a single one going back to the web browser. So I guess I'm aging myself. But really that's 30 years old now that when Netscape went public and people believed AOL would be the dominant email user and Netscape would be the dominant web browser. Well, guess what? Email is big and the web browser is big. And it's not Netscape or aol. That's just to me, the story of technology. And I think people are wildly overconfident that this thing is going to take place without some pain along the way.

[Nick Eicher]

Well, David Bonson is founder, managing partner and chief investment officer of the Bonson Group. David's Dividend Cafe mentioned earlier. It's available to you for [e-mail] hey David, thank you. I hope you and the family have a merry Christmas. We'll talk again one more time before the end of the year for a wrap up of 2024. Thanks.

[David Bonson]

Thanks so much, Nick. Merry Christmas.

[Nick Eicher]

Today is Monday, December 23rd. Good morning. This is the world and everything in it from listener supported World Radio. I'm Nick Iger.

[Mary Reichert]

And I'm Mary Reichard. Up next, next, the world history book. On this day During World War I, the evening peace began to break out. And another story of the transcendent power of Jesus Christ on a Christmas Eve during World War II. Here's World's Paul Butler.

[Paul Butler]

On Christmas Eve 1914, a battlefield falls silent. Allies Allied soldiers hunker down for the night across no Man's Land. Germans do the same, trying to keep warm. The fighting had stopped hours before. German officer Walther Stennis remembers the day. Audio here from Imperial War Museums.

[David Bonson]

Of course, it was unusual that the opposite side also ceased fire. Then my officer controlling the sentries came in and said, do you expect a surprise attack because it's very unusual situation? I said, no, I don't think so.

[Paul Butler]

Pauses in the fighting happen occasionally during the first five months of World War I. Enemies silence their weapons and let each other recover and bury their dead. Sometimes the sides even exchange souvenirs. Fraternization and random truces take place all along the Eastern Front. But they're highly localized and they end as quickly, quickly as they start as soldiers pick up their weapons and fight one another as if nothing happened. At the end of 1914, the Allied and Axis powers are at a stalemate on the Western Front in Belgium. Stuck in muddy trenches, hungry and cold, both sides deafened from bomb explosions and fierce gunfire. But as night falls on December 24, the Allied soldiers hear a very different sound. Audio here from Sainsbury, the British join in. Both sides sing Christmas carols together. British Private Marmaduke Walkington, stationed close to the German trenches, yells some jokes across the divide and the Germans yell back. Then one German soldier says, tomorrow you.

[David Bonson]

No shoot, we no shoot. And the morning came and we didn't shoot, and they didn't shoot. So then we began to pop our heads over the side and jump down quickly in case they shot, but they didn't shoot.

[Paul Butler]

Audio there once again from Imperial War museums. Further down the front, Germans extend the same offer. The Allied officers refused, thinking that the request is a trap and that the troops will be massacred. But on Christmas Day, they reconsider and give their men the go ahead. Allied soldiers walk slowly into no man's land where Axis soldiers are waiting. They exchange tins of food, cigarettes and season's greetings. Teams form to play soccer. Others join in prayer over the dead. Audio here from an interview with soldier Jay Reed.

[David Bonson]

And we were swapping tins of bully for their tins of meat, and the padre was out having a talk with them and they were burying any dead that was there and we were burying any dead. All this carried on for about a couple of days.

[Paul Butler]

When high command hears of the truce, they order the men back to the trenches. Gone are the carols. No more peace on earth, goodwill toward men. As machine command open fire once again, the event becomes something of a legend in military history. Official reports say as many as 100,000 men put down their weapons to celebrate Christmas together that day. But some skeptics wonder whether it really happened on such a large scale. The next year, officials on both sides preemptively forbid any kind of Christmas ceasefires. Soldiers are told they'll be charged with treason if they try to communicate with the enemy. But despite the order, some soldiers still extend peace on Christmas.

[Nick Eicher]

Facing the brief but furious German counteroffensive.

[David Bonson]

In Belgium, American engineers string barbed wire.

[Mark Mellinger]

Barricades in bitter winter weather.

[Paul Butler]

Next, a lesser known Christmas truce. It's 30 years later as World War II rages on and unity is a thing of the past. The German army invades a thin line of American soldiers during the Battle of the Bulge. At one point, three Allied soldiers lose sight of their battalion and they wander for several days, one of them with a bullet wound. On Christmas Eve, they stumble upon a house in the forest. A German woman answers the door. Her son, Fritz Wienken, remembers it clearly. He later writes about it in his short story, Truce in the Forest. Voice actor John Outside, like phantoms against.

[Nick Eicher]

The snow clad trees, stood two steel helmeted men. One of them spoke to Mother in.

[David Bonson]

A language we did not understand, pointing to a third man lying in the snow.

[Nick Eicher]

She realized before I did that these were American soldiers. Enemies.

[Paul Butler]

She lets them in. The wienken start preparing roast chicken with potatoes when there's another knock at the door. Four German soldiers have also lost their way and need a place to stay. Fritz's mother allows them to come inside on one condition. She says this is Christmas Eve and there will be no shooting here. The soldiers agree and throw their guns in a nearby wood pile and sit with the Americans. As Fritz's mother sets the food on the table, she says a prayer with tears in her eyes.

[Nick Eicher]

As I looked around the table, I.

[David Bonson]

Saw tears too, in the eyes of.

[Nick Eicher]

The battle weary soldiers.

[David Bonson]

Boys again.

[Nick Eicher]

Some from America, some from Germany. All far from home.

[Paul Butler]

The next morning, Christmas Day, a German soldier takes out a map and shows the Americans how to get back to their battalion. They shake hands and go their separate ways. According to the story, Fritz walks back into the house after saying his farewells and he notices his mother with the family box.

[Nick Eicher]

I glanced over her shoulder.

[David Bonson]

The book was open to the Christmas story. The birth in the manger and house.

[Nick Eicher]

Of icemen came from afar bearing their gifts.

[David Bonson]

Her finger was tracing the last line from Matthew 2:21. They departed into their own country another way.

[Paul Butler]

That's this week's world history book. I'm Paul Butler.

[Mary Reichert]

Well, before we go today, a special Monday commentary. This week will be full of last minute preparations as families host celebrations at home and at church. World Opinions contributor Candice Waters encourages parents to keep our eyes and hearts open for ways to involve your children.

[Candace Waters]

It was 30 minutes till our small group would arrive to our just cleaned and decorated family room for a Christmas party. With only the punch to make, table to set and brownies to cool and cut, I was feeling fairly optimistic about being able to get the final details in place before the first ring of the doorbell. Then those infamous words filled my ears. Mommy, can I help? Not one, not two, but all four of our kids, ranging from five to 13, wanted to make the punch. I know how this ends. You probably do too. I've been heard in moments of exasperation to announce in the midst of a crazy kitchen, it's not helping if you make my work harder. Help is supposed to make things easier for me. Still, I was inclined to let them. How much damage could they do? Pouring bottles of cranberry juice, Sprite and pineapple juice into the oversized bowl. But her 11 year old daughter wasn't so sure. She protested, mom, he might make a mess. Pointing to her younger brother, I replied, that's true, and so did you. But I let you do it. You made messes, and that's why you're a help to me now. My mom used to ask my dad to take me and my younger siblings with him on a last minute errand to the grocery store when she was expecting company. I can stay and help, I'd insist. But she knew what would help her most being alone to focus on the work without distraction or interruptions. All these years later, I understand why she said no. It is easier to be left alone with a quiet house to finish the meatballs and hummus, light the candles and pour the punch. We both had to learn what all moms have to it's worth the mess and inconvenience of letting kids help, because that's how they learn. Even today, I repress the occasional urge to ban kids from the kitchen in the countdown to company coming. But now that some of them are the company I'm preparing for, I'm glad for all the times I said yes. What about you? Do you do it yourself or let your kids help? That's a daily dilemma for busy moms whose kids long to jump in with unskilled hands and clumsy feet. It's rarely, if ever, efficient to say yes. It's so much easier to just do it yourself, the right way, or at least the way you prefer it. But if you always choose what's most efficient, you may miss out on vital windows of instruction. Kids need to learn, and we need to teach them. Making punch may not rise to the level of training our children in the instruction of the lord, as Ephesians 6 requires. But how we respond to their offers of help and the messes they make in their eagerness to jump in Does Every moment in the kitchen is teachable because our children are always watching? What do they see? A mom who's patient and loving when the cranberry juice splashes over the side of the bowl. A dad who's calm when they drop the tray of cookies. Parenting is nothing if not sanctifying. After our kids finished making the punch, I sent them to the family room to watch for our company while I cleaned up the inevitable spills made, ironically, by the 11 year old. It was then that I heard the Lord, as if whispering to me, I'm letting you help me. The thought struck me hard. With these children, God's letting me help. He could have made new people without me. He could have formed them and raised them to adulthood some other way, but he chose to use human parents to help with these precious children. Tears filled my eyes. I've made a lot of messes learning how to raise our kids with my own unskilled hands and clumsy feet. All along God has been teaching me as I teach them. And the more I've leaned into the work of it, the messes, the frustrations, the setbacks and the joys, the more he's changed me. This is by his design. When your kids ask you to let them help, err on the side of saying yes. When you do, you'll be growing to be more like your heavenly Father. Oh, and you might want to keep some extra paper towels nearby. I'm Candace Waters.

[Nick Eicher]

Tomorrow California has declared a state of emergency due to bird flu. Is that the right response? And we'll meet a family that won't be celebrating Christmas. That and more tomorrow. And reminder, we are down to about a week to go in our year end giving drive. Every gift does make a difference. Wng.org yearendgift I'm Nick Iger.

[Mary Reichert]

And I'm Mary Reichard. Our thanks to World's Emma Perley who wrote today's history book segment. The world and everything in it comes to you from World Radio. World's mission is biblically objective journalism that informs, educates and inspires. The Bible says for the day of the Lord is near upon all the nations. As you have done, it shall be done to you. Your deeds shall return on your own head. Verse 15 of Obadiah 1 Go now in grace and peace.

[Nick Eicher]

Sa.