WEBVTT 00:00:00.000 --> 00:00:02.220 Welcome back to The Deep Dive. It is Monday, 00:00:02.600 --> 00:00:06.200 January 26th, 2026. And if you were feeling, 00:00:06.280 --> 00:00:09.339 I don't know, a serious amount of cognitive dissonance 00:00:09.339 --> 00:00:12.359 this morning, you are definitely not alone. It 00:00:12.359 --> 00:00:14.380 feels like we're living in two totally different 00:00:14.380 --> 00:00:16.219 timelines. It really does. It's one of those 00:00:16.219 --> 00:00:19.239 weeks where, you know, if you only read the political 00:00:19.239 --> 00:00:20.960 headlines, you'd think the country is completely 00:00:20.960 --> 00:00:23.460 falling apart. Right. But then if you only looked 00:00:23.460 --> 00:00:25.679 at your brokerage account. you'd think we were 00:00:25.679 --> 00:00:28.199 in some kind of golden age. That is the exact 00:00:28.199 --> 00:00:30.719 disconnect we have to figure out today. Our mission 00:00:30.719 --> 00:00:33.659 is to connect these dots because they seem, I 00:00:33.659 --> 00:00:36.460 mean, just wildly contradictory. You have a government 00:00:36.460 --> 00:00:38.859 in Washington that's basically paralyzed, steering 00:00:38.859 --> 00:00:40.820 down a shutdown this Saturday. And then you have 00:00:40.820 --> 00:00:43.359 these geopolitical threats flying around on social 00:00:43.359 --> 00:00:46.079 media. Oh, everything from trade wars with our 00:00:46.079 --> 00:00:49.539 closest allies to buying Greenland again. Which 00:00:49.539 --> 00:00:51.799 is, believe it or not, back on the table. We 00:00:51.799 --> 00:00:53.719 will get to that. But then on the other side 00:00:53.719 --> 00:00:55.479 of the coin, you have financial markets that 00:00:55.479 --> 00:00:57.719 are just absolutely tearing it up. Gold, silver, 00:00:57.880 --> 00:00:59.619 stocks, everything's hitting all -time highs. 00:01:00.299 --> 00:01:03.299 So my question is, are we just distracted by 00:01:03.299 --> 00:01:05.480 the drama while the money knows something we 00:01:05.480 --> 00:01:08.349 don't? Or is the money just ignoring a cliff 00:01:08.349 --> 00:01:10.650 edge that we're all about to drive off of? That's 00:01:10.650 --> 00:01:13.090 the big question. And to answer it, we have to 00:01:13.090 --> 00:01:16.670 look at the specific machinery of what's happening. 00:01:17.269 --> 00:01:19.769 We need to look at this showdown over ICU, what 00:01:19.769 --> 00:01:22.310 they're calling the besant factor at the Treasury, 00:01:23.290 --> 00:01:25.670 and well, a peace plan for the Middle East that 00:01:25.670 --> 00:01:28.109 honestly looks more like a real estate brochure. 00:01:28.469 --> 00:01:30.689 Let's start with the immediate crisis then. If 00:01:30.689 --> 00:01:33.260 you're a federal employee, or just anyone who 00:01:33.260 --> 00:01:35.939 expects the government to function, this Saturday 00:01:35.939 --> 00:01:37.819 is the deadline. We're looking at a government 00:01:37.819 --> 00:01:40.980 shutdown. But this feels different than the usual 00:01:40.980 --> 00:01:43.519 budget fights, doesn't it? Oh, completely. Usually 00:01:43.519 --> 00:01:45.719 it's about spending caps or debt ceiling. Yeah, 00:01:45.920 --> 00:01:48.420 numbers. This is entirely ideological. It's not 00:01:48.420 --> 00:01:51.540 about decimal points in a budget. This is a fundamental 00:01:51.540 --> 00:01:53.620 clash over the Department of Homeland Security 00:01:53.620 --> 00:01:57.040 and specifically Immigration and Customs Enforcement, 00:01:57.359 --> 00:02:00.120 or ICE. And the catalyst, of course, is the situation 00:02:00.120 --> 00:02:02.560 in Minneapolis. Right. Reports confirmed over 00:02:02.560 --> 00:02:06.260 the weekend that ICE agents killed a second American 00:02:06.260 --> 00:02:09.159 citizen on camera there. And the public outrage 00:02:09.159 --> 00:02:12.039 is just at a boiling point. And that anger. has 00:02:12.039 --> 00:02:14.020 now officially moved from the streets to the 00:02:14.020 --> 00:02:17.139 Senate floor. Exactly. Senate Democrats are using 00:02:17.139 --> 00:02:19.680 this as their leverage point. They are blocking 00:02:19.680 --> 00:02:23.080 the entire DHS funding bill. Now, you know, normally 00:02:23.080 --> 00:02:24.879 you'd say, well, Republicans control the Senate, 00:02:24.939 --> 00:02:26.599 they can just push it through. But they only 00:02:26.599 --> 00:02:29.439 have 53 seats. Right. And you need 60 votes to 00:02:29.439 --> 00:02:32.240 pass anything, thanks to the filibuster. So Mitch 00:02:32.240 --> 00:02:34.979 McConnell needs to find seven Democrats to cross 00:02:34.979 --> 00:02:37.819 the aisle. And right now he has... How many? 00:02:38.080 --> 00:02:41.479 He has zero. Chuck Schumer has the caucus completely 00:02:41.479 --> 00:02:43.659 united. You have everyone from Patty Murray to 00:02:43.659 --> 00:02:46.240 Tim Kaine and especially the Minnesota senators, 00:02:46.319 --> 00:02:48.599 you know, Amy Klobuchar, saying absolutely not. 00:02:48.900 --> 00:02:50.780 They're demanding accountability measures be 00:02:50.780 --> 00:02:53.240 written into the law itself. OK, let's get into 00:02:53.240 --> 00:02:55.300 those demands because they're really specific. 00:02:55.479 --> 00:02:58.530 It's not just, you know, better training or something 00:02:58.530 --> 00:03:01.590 vague. No, no. They want to strip civil and criminal 00:03:01.590 --> 00:03:04.530 immunity for agents who violate state laws. Wait, 00:03:04.530 --> 00:03:06.509 explain what that means. That sounds huge. It 00:03:06.509 --> 00:03:08.909 is the nuclear option for a federal agency. I 00:03:08.909 --> 00:03:11.169 mean, think about it. Right now, a federal agent 00:03:11.169 --> 00:03:13.949 has what's called qualified immunity. If they 00:03:13.949 --> 00:03:16.389 make a mistake, they're generally protected from 00:03:16.389 --> 00:03:20.469 being personally sued or charged by like a local 00:03:20.469 --> 00:03:22.250 prosecutor. So the Democrats want to get rid 00:03:22.250 --> 00:03:24.009 of that. They're trying to pierce that veil. 00:03:24.229 --> 00:03:27.620 So if this passes, an ICE A C -E agent in Minneapolis 00:03:27.620 --> 00:03:30.580 who breaks a Minnesota state law could be arrested 00:03:30.580 --> 00:03:34.120 by local police. or sued personally. That changes 00:03:34.120 --> 00:03:35.960 everything for the agents on the ground. It changes 00:03:35.960 --> 00:03:38.900 the entire risk calculation. And on top of that, 00:03:38.939 --> 00:03:41.560 they want to ban on masks and mandatory name 00:03:41.560 --> 00:03:43.840 tags with unique personnel numbers. Which seems 00:03:43.840 --> 00:03:46.319 so basic, but I guess it ends the anonymity of 00:03:46.319 --> 00:03:49.080 these tactical units. It ends their ability to 00:03:49.080 --> 00:03:51.740 operate as a faceless entity. It forces individual 00:03:51.740 --> 00:03:53.840 accountability. And they're offering a three 00:03:53.840 --> 00:03:55.960 month extension, but only if these reforms are 00:03:55.960 --> 00:03:58.199 included. It's real hardball. So what's the Republican 00:03:58.199 --> 00:04:01.360 response? I would expect them to be screaming 00:04:01.360 --> 00:04:04.479 about defunding the police or open borders. But 00:04:04.479 --> 00:04:08.340 it feels quiet. It is surprisingly muted. You 00:04:08.340 --> 00:04:10.919 have Senator Bill Hagerty trying to blame the 00:04:10.919 --> 00:04:13.740 Minnesota governor, Tim Walsh, for encouraging 00:04:13.740 --> 00:04:15.919 violence, which is kind of the standard line. 00:04:16.319 --> 00:04:19.259 But. The moderates are paralyzed. The Susan Collins 00:04:19.259 --> 00:04:21.360 problem. Susan Collins is the perfect example. 00:04:21.439 --> 00:04:23.699 She represents Maine. She's in a brutal re -election 00:04:23.699 --> 00:04:26.639 fight. And recently, ICE conducted these big 00:04:26.639 --> 00:04:29.199 raids in Portland and Lewiston, Maine. They arrested 00:04:29.199 --> 00:04:31.779 over 100 people. And her voters are angry. Her 00:04:31.779 --> 00:04:34.600 voters are furious. So she votes to fund ICE 00:04:34.600 --> 00:04:37.500 with no changes. She alienates the very people 00:04:37.500 --> 00:04:40.180 she needs to win. But if she sides with Schumer 00:04:40.180 --> 00:04:42.720 and demands reforms... Then she crosses Trump. 00:04:42.879 --> 00:04:45.120 And Trump sees that as a personal betrayal. She 00:04:45.120 --> 00:04:48.420 is caught in a vice. And that's why the GOP can't 00:04:48.420 --> 00:04:50.600 find a unified message here. Speaking of the 00:04:50.600 --> 00:04:54.160 president, while the Senate is stuck, he is very 00:04:54.160 --> 00:04:56.160 active on social media. And it seems like he's 00:04:56.160 --> 00:04:58.319 just picking fights with, well, everyone. Let's 00:04:58.319 --> 00:05:01.759 start with Canada. Ah, yes. The Governor Carney 00:05:01.759 --> 00:05:04.579 incident. I have to ask, did he really forget 00:05:04.579 --> 00:05:07.920 that Mark Carney is the prime minister of Canada? 00:05:08.540 --> 00:05:10.819 He called him Governor Carney and called Canada 00:05:10.819 --> 00:05:14.009 a state. Was that a slip up? With Trump, you 00:05:14.009 --> 00:05:16.550 have to assume it's intentional. Mark Carney, 00:05:16.769 --> 00:05:18.649 you know, he ran the Bank of England, the Bank 00:05:18.649 --> 00:05:21.990 of Canada. He is the definition of a sophisticated 00:05:21.990 --> 00:05:24.589 globalist elite. Right. Calling him governor 00:05:24.589 --> 00:05:27.949 and Canada a state is a power move. It's meant 00:05:27.949 --> 00:05:30.569 to belittle him. It's a bully tactic. It is. 00:05:30.870 --> 00:05:33.310 But the actual threat is what's really scary. 00:05:33.470 --> 00:05:37.149 A 100 % tariff on all Canadian goods, because 00:05:37.149 --> 00:05:39.430 he says Canada is a drop -off port for China. 00:05:39.709 --> 00:05:42.769 OK, but a 100 % tariff on everything from Canada. 00:05:42.970 --> 00:05:44.589 Does he understand what that would do to our 00:05:44.589 --> 00:05:46.709 own economy? It would be an economic suicide 00:05:46.709 --> 00:05:49.569 pact, specifically for the Midwest, the very 00:05:49.569 --> 00:05:51.490 voters he says he's protecting. How does that 00:05:51.490 --> 00:05:54.170 work? Why does a tariff on Canada hurt, say, 00:05:54.290 --> 00:05:56.550 Michigan? Because the supply chain isn't a straight 00:05:56.550 --> 00:06:00.490 line, it's a circle. Take a Ford F -150. The 00:06:00.490 --> 00:06:02.910 engine block might be cast in Windsor, Ontario. 00:06:03.430 --> 00:06:05.230 It crosses the border to Michigan, then maybe 00:06:05.230 --> 00:06:07.250 goes back to Canada for assembly, then back to 00:06:07.250 --> 00:06:10.490 Ohio. A single part can cross that border seven 00:06:10.490 --> 00:06:13.569 times. If you tax it 100 % each time. You don't 00:06:13.569 --> 00:06:15.730 just make the truck expensive, you stop production. 00:06:15.910 --> 00:06:20.050 Period. You would bankrupt Ford and GM in weeks. 00:06:20.509 --> 00:06:22.709 And that's not even getting into lumber for housing. 00:06:22.810 --> 00:06:25.290 So it's a bluff. It has to be. It's likely a 00:06:25.290 --> 00:06:27.579 bluff to get Carney to crack down on China. But 00:06:27.579 --> 00:06:29.959 it's a dangerous game, and it's not just Canada. 00:06:30.060 --> 00:06:32.060 He's doing the same with Europe. Right. Which 00:06:32.060 --> 00:06:34.360 brings us to Greenland. He's back on the buy 00:06:34.360 --> 00:06:37.160 Greenland idea, threatening to leave NATO or 00:06:37.160 --> 00:06:40.399 slap 15 percent tariffs on the EU. But the European 00:06:40.399 --> 00:06:43.699 response to this is kind of brilliant. The soccer 00:06:43.699 --> 00:06:46.500 twist. This is fascinating. It's asymmetric warfare. 00:06:46.620 --> 00:06:48.740 There is serious talk among European nations 00:06:48.740 --> 00:06:51.379 about boycotting the 2026 World Cup. The one 00:06:51.379 --> 00:06:53.500 the US is hosting. The one the US is hosting. 00:06:53.699 --> 00:06:55.300 Wait, really? They would actually pull out of 00:06:55.300 --> 00:06:57.319 the biggest sporting event on the planet. It 00:06:57.319 --> 00:06:59.740 sounds crazy, right? But listen to this German 00:06:59.740 --> 00:07:02.939 MP, Roderich Kieswetter. He said he finds it 00:07:02.939 --> 00:07:05.439 hard to imagine participation if Trump starts 00:07:05.439 --> 00:07:08.720 a trade war or invades Greenland. But why? Why 00:07:08.720 --> 00:07:10.839 would they do that? Because it's the one thing 00:07:10.839 --> 00:07:13.779 Trump wants to show off. Hosting the World Cup 00:07:13.779 --> 00:07:16.500 is a huge prestige moment for his administration. 00:07:17.040 --> 00:07:19.639 A Make America Great Again spectacle for the 00:07:19.639 --> 00:07:22.980 whole world. And Germany, France, Spain. Yeah. 00:07:23.339 --> 00:07:25.860 If they don't show up. It turns a global triumph 00:07:25.860 --> 00:07:28.959 into a global humiliation. It's a soft power 00:07:28.959 --> 00:07:31.180 strike. They know they can't win a dollar for 00:07:31.180 --> 00:07:34.360 dollar tariff war, but they can ruin his party. 00:07:34.480 --> 00:07:37.259 It attacks his ego, which might be the only leverage 00:07:37.259 --> 00:07:40.439 that actually works. That is just wild. OK, from 00:07:40.439 --> 00:07:42.860 the soccer pitch to skyscrapers. Let's look at 00:07:42.860 --> 00:07:45.439 the Middle East. Jared Kushner is back with a 00:07:45.439 --> 00:07:48.000 plan to rebuild Gaza. But looking at the details, 00:07:48.040 --> 00:07:50.079 it feels less like a postwar plan and more like 00:07:50.079 --> 00:07:52.449 a pitch for a luxury resort. It really does. 00:07:52.490 --> 00:07:55.009 It reads like a developer's fantasy. The plan 00:07:55.009 --> 00:07:57.949 is to turn Gaza into, and this is a quote, Dubai 00:07:57.949 --> 00:08:01.110 with better weather. We're talking 180 skyscrapers, 00:08:01.269 --> 00:08:04.529 a new Rafa with 100 ,000 housing units, a huge 00:08:04.529 --> 00:08:06.750 industrial center. The drawings are probably 00:08:06.750 --> 00:08:10.529 beautiful. But what about the two million people 00:08:10.529 --> 00:08:12.769 who live there now? Where do they go in this 00:08:12.769 --> 00:08:15.699 plan? That is the massive hole in the middle 00:08:15.699 --> 00:08:18.399 of it. The plan seems to treat the land like 00:08:18.399 --> 00:08:21.439 it's a blank canvas. It just assumes Hamas will 00:08:21.439 --> 00:08:23.639 disappear or disarm because someone promised 00:08:23.639 --> 00:08:26.860 to build a nice hotel. Which seems, well... Naive. 00:08:27.360 --> 00:08:29.839 Especially with reports that Hamas is hoarding 00:08:29.839 --> 00:08:32.559 weapons for a long -term fight. It's incredibly 00:08:32.559 --> 00:08:35.279 naive. And then you have the logistics. Who provides 00:08:35.279 --> 00:08:38.919 security? Who polices the streets? And who pays 00:08:38.919 --> 00:08:41.000 the hundreds of billions of dollars to build 00:08:41.000 --> 00:08:43.080 it all? The assumption is always Saudi Arabia. 00:08:43.159 --> 00:08:45.200 That's always the assumption. But the Saudis 00:08:45.200 --> 00:08:47.639 are pragmatic. They're not going to pour... billions 00:08:47.639 --> 00:08:49.279 into infrastructure that could just be blown 00:08:49.279 --> 00:08:52.019 up again next year. It feels less like a diplomatic 00:08:52.019 --> 00:08:54.919 plan and more like peace through gentrification. 00:08:55.799 --> 00:08:59.000 It just ignores all the human and political realities. 00:08:59.379 --> 00:09:01.940 OK, so let's just pause and take stock. We have 00:09:01.940 --> 00:09:04.679 a potential government shutdown over police reform, 00:09:05.139 --> 00:09:07.460 a potential trade war with Canada that could 00:09:07.460 --> 00:09:10.360 wreck our auto industry, a World Cup boycott 00:09:10.360 --> 00:09:15.340 threat, a sci fi plan for Gaza. Logically, the 00:09:15.340 --> 00:09:17.500 stock market should be in a free fall. You would 00:09:17.500 --> 00:09:19.919 think so. Panic selling, a flight to safety. 00:09:20.179 --> 00:09:22.500 And yet we are seeing the exact opposite. The 00:09:22.500 --> 00:09:25.059 complete opposite. Gold, silver, platinum, all 00:09:25.059 --> 00:09:28.980 -time highs. Small cap stocks, the Russell 2000, 00:09:29.419 --> 00:09:31.659 are beating the S &P 500 for the longest streak 00:09:31.659 --> 00:09:35.320 since 1996. What is the market seeing that we 00:09:35.320 --> 00:09:37.039 are missing? There are two things going on. The 00:09:37.039 --> 00:09:38.940 first is the macro environment, what we call 00:09:38.940 --> 00:09:41.620 Quad 1. OK, break that down for us. What is Quad 00:09:41.620 --> 00:09:44.700 1? It's just a term for a scenario where economic 00:09:44.700 --> 00:09:46.860 growth is accelerating and at the same time, 00:09:46.960 --> 00:09:49.019 inflation is slowing down. It's the Goldilocks 00:09:49.019 --> 00:09:51.639 zone for investing. So despite all the political 00:09:51.639 --> 00:09:54.340 chaos, the underlying economic data is actually 00:09:54.340 --> 00:09:56.820 pretty strong. But how can inflation be slowing 00:09:56.820 --> 00:09:59.340 if the government is spending so much money? 00:09:59.559 --> 00:10:01.720 That brings us to the second and probably more 00:10:01.720 --> 00:10:04.779 important factor, the Besant factor, Treasury 00:10:04.779 --> 00:10:08.779 Secretary Besant. While Trump is on social media, 00:10:09.039 --> 00:10:12.200 Besant is quietly taking apart the entire regulatory 00:10:12.200 --> 00:10:14.559 framework of the financial system. This is Dodd 00:10:14.559 --> 00:10:16.519 -Frank, right? The rules they put in after the 00:10:16.519 --> 00:10:19.539 2008 crash. Exactly. Besant is systematically 00:10:19.539 --> 00:10:22.240 stripping those rules away. But here's the key 00:10:22.240 --> 00:10:26.000 part that explains the market boom. He's allowing 00:10:26.000 --> 00:10:29.259 banks to hold cryptocurrencies directly on their 00:10:29.259 --> 00:10:31.679 balance sheets. OK, why does that matter so much? 00:10:32.019 --> 00:10:34.740 Why does a bank holding Bitcoin make the S &P 00:10:34.740 --> 00:10:37.620 500 go up? It's all about liquidity. Think of 00:10:37.620 --> 00:10:40.500 crypto as this giant, isolated island of money. 00:10:40.639 --> 00:10:43.279 By letting major banks buy and hold it, you're 00:10:43.279 --> 00:10:45.580 building a bridge from that island to the mainland 00:10:45.580 --> 00:10:47.460 financial system. You're flooding the system 00:10:47.460 --> 00:10:50.200 with new cash. A sugar rush. It's a massive shot 00:10:50.200 --> 00:10:52.259 of adrenaline. You have Senator Elizabeth Warren, 00:10:52.259 --> 00:10:54.000 of course, screaming that this is unbelievably 00:10:54.000 --> 00:10:56.279 dangerous. She says removing these financial 00:10:56.279 --> 00:10:58.580 cops and letting banks gamble on crypto is setting 00:10:58.580 --> 00:11:02.100 us up for a crash that will make 2008 look tiny. 00:11:02.360 --> 00:11:05.299 Because if crypto tanks and the banks are holding 00:11:05.299 --> 00:11:07.850 the bag, And there are no rules forcing them 00:11:07.850 --> 00:11:10.909 to have cash reserves. Then the banks fail again. 00:11:11.049 --> 00:11:13.649 It creates this high risk, high reward environment. 00:11:14.049 --> 00:11:16.090 We actually saw a little flash of this with that 00:11:16.090 --> 00:11:18.610 VIX event recently. Volatility just spiked from 00:11:18.610 --> 00:11:21.649 15 to 20 in one day. I remember that. Normally 00:11:21.649 --> 00:11:24.669 that triggers a panic. But because there's so 00:11:24.669 --> 00:11:27.409 much cash sloshing around, the market just absorbed 00:11:27.409 --> 00:11:29.649 it and kept climbing. So the car is going faster 00:11:29.649 --> 00:11:31.850 because we took the brakes out. That's the perfect 00:11:31.850 --> 00:11:33.870 analogy. We are hitting top speed and it feels 00:11:33.870 --> 00:11:37.129 great. But if we hit a like a real trade war 00:11:37.129 --> 00:11:40.149 or a prolonged shutdown, we have no safety systems 00:11:40.149 --> 00:11:42.990 left. That's a sobering thought. Before we go, 00:11:43.029 --> 00:11:45.529 let's hit some political quick hits. The D .C. 00:11:45.570 --> 00:11:48.409 machine never really stops. First up, the Jeffrey 00:11:48.409 --> 00:11:51.750 Epstein story just will not go away. And Democrats 00:11:51.750 --> 00:11:53.850 are making sure it doesn't. The House Oversight 00:11:53.850 --> 00:11:56.389 Committee just subpoenaed his inner circle. Leslie 00:11:56.389 --> 00:11:59.429 Wexner, the billionaire benefactor, Darren Indyke, 00:11:59.549 --> 00:12:02.149 his lawyer, and Richard Kahn, the accountant. 00:12:02.409 --> 00:12:05.200 What are they looking for? Epstein is dead? What's 00:12:05.200 --> 00:12:08.100 left to find? The money trail. Specifically, 00:12:08.419 --> 00:12:12.320 more than 4 ,000 transactions at JP Morgan. Democrats 00:12:12.320 --> 00:12:14.440 think there's a huge cover -up about how he moved 00:12:14.440 --> 00:12:16.799 his money and who he was paying. They want this 00:12:16.799 --> 00:12:19.659 out before the midterms. And speaking of midterms, 00:12:19.980 --> 00:12:21.820 there's some new polling on young voters that 00:12:21.820 --> 00:12:24.399 should be terrifying. for Republicans. It's a 00:12:24.399 --> 00:12:26.639 complete collapse. They thought they'd made inroads 00:12:26.639 --> 00:12:30.059 with Gen Z, but recent polls show voters aged 00:12:30.059 --> 00:12:33.879 18 to 29 now disapprove of Trump by these huge 00:12:33.879 --> 00:12:36.639 margins like negative 26 to negative 43 percent. 00:12:36.659 --> 00:12:39.080 What's driving that shift? It's the civil liberties 00:12:39.080 --> 00:12:41.059 issue. And interestingly, what you could call 00:12:41.059 --> 00:12:44.120 the Joe Rogan effect. Rogan has turned on Trump 00:12:44.120 --> 00:12:46.759 over these ICE tactics. He actually compared 00:12:46.759 --> 00:12:48.820 them to the Gestapo. I heard that clip. He said 00:12:48.820 --> 00:12:50.440 something like, are we really going to be the 00:12:50.440 --> 00:12:52.990 Gestapo? Where's your papers? Exactly. when you 00:12:52.990 --> 00:12:55.750 lose Joe Rogan on personal freedom, you're losing 00:12:55.750 --> 00:12:57.629 a huge chunk of that demographic. They might 00:12:57.629 --> 00:13:00.169 not vote Democrat, but they might just stay home. 00:13:00.570 --> 00:13:02.389 And really quickly, Senator Amy Klobuchar is 00:13:02.389 --> 00:13:04.710 leaving her Senate leadership role to run for 00:13:04.710 --> 00:13:07.309 governor of Minnesota. It's a tell. She sees 00:13:07.309 --> 00:13:10.110 the gridlock. She can't get this DHS bill passed. 00:13:10.230 --> 00:13:12.509 And she wants out. She wants an executive job 00:13:12.509 --> 00:13:14.789 where she can actually do something. Of course, 00:13:14.789 --> 00:13:16.610 with the welfare fraud scandal in Minnesota, 00:13:16.750 --> 00:13:19.149 she's kind of jumping from the frying pan into 00:13:19.149 --> 00:13:22.370 the fire. And finally. The GOP is planning a 00:13:22.370 --> 00:13:26.230 midterm convention. In Vegas or Dallas? Yeah. 00:13:26.370 --> 00:13:28.289 It's never been done. It's basically a giant 00:13:28.289 --> 00:13:30.789 pep rally to get the base fired up because the 00:13:30.789 --> 00:13:33.250 polls are looking so grim. Don't expect any real 00:13:33.250 --> 00:13:36.250 news, just a lot of fireworks and speeches. It's 00:13:36.250 --> 00:13:38.110 a sign they're worried. So let's try to tie this 00:13:38.110 --> 00:13:40.389 all together. We have a government paralyzed 00:13:40.389 --> 00:13:43.450 by ideology. We have a president governing by 00:13:43.450 --> 00:13:46.370 threat and insult. And underneath it all, a financial 00:13:46.370 --> 00:13:48.809 system getting its safety regulations stripped 00:13:48.809 --> 00:13:51.970 away to fuel a historic rally. It is a precarious 00:13:51.970 --> 00:13:54.049 balance, to say the least. We're essentially 00:13:54.049 --> 00:13:56.230 redlining the engine of the economy while we're 00:13:56.230 --> 00:13:58.190 smashing the dashboard warning lights with a 00:13:58.190 --> 00:14:00.309 hammer. Which leaves us with the big question 00:14:00.309 --> 00:14:04.490 for today. Is this market rally a sign of real 00:14:04.490 --> 00:14:07.049 American resilience? Or are we just enjoying 00:14:07.049 --> 00:14:08.789 the view because we can't see the cliff we're 00:14:08.789 --> 00:14:11.070 speeding towards? I think we might find out the 00:14:11.070 --> 00:14:13.590 answer to that sooner than we'd like. Watch the 00:14:13.590 --> 00:14:16.669 Fed decision this Wednesday and definitely keep 00:14:16.669 --> 00:14:18.990 an eye on that shut down deadline Saturday. It's 00:14:18.990 --> 00:14:21.009 going to be a very long week. Thanks for diving 00:14:21.009 --> 00:14:21.490 in with us.