[00:00:09] [SPEAKER_06]: One Nation Under Fraud, completely visible with lying and spying for all. The Kate Dalley Show starts now.
[00:00:17] [SPEAKER_00]: So let me explain. The problem is that Democrats like me, we're not the brightest bulbs in the tanning bed.
[00:00:23] [SPEAKER_00]: We can't always distinguish between reality and fiction.
[00:00:26] [SPEAKER_00]: When Elon Musk posted Mr. Reagan's brilliant Kamala Harris parody video, I thought that was real.
[00:00:30] [SPEAKER_00]: And so I realized without laws governing what we are allowed to see and hear, how will we ever know what's really true?
[00:00:36] [SPEAKER_00]: How would we know that COVID came from bat soup and Trump told everyone to inject bleach?
[00:00:39] [SPEAKER_00]: How would we know that the COVID vaccines had zero side effects and that masks were 100% effective?
[00:00:44] [SPEAKER_00]: How would we know Kamala brilliantly invented her very own original idea, no tax on tips or that I'm totally not gay?
[00:00:50] [SPEAKER_00]: How would we know that Trump wrote Project 2025 or that Trump staged both of his assassination attempts?
[00:00:55] [SPEAKER_00]: And how would we know that Trump is literally Hitler? Reincarnation is definitely a thing.
[00:00:59] [SPEAKER_00]: Hitler died in 1945. Trump was born in 1946. Coincidence? I think not.
[00:01:04] [SPEAKER_04]: Oh, I love that. That was the Gavin gruesome parody, but maybe not a parody so much.
[00:01:11] [SPEAKER_04]: Maybe actually true. I love it. And I love it. That was just a great answer to, you know, to what he passed in California.
[00:01:20] [SPEAKER_04]: The absurdity of you can't, you know, these banning certain commercials, right? And banning certain things.
[00:01:27] [SPEAKER_04]: So that was the, yeah. Okay. We'll play this then. So I love that. Welcome back to the Kate Daly show.
[00:01:34] [SPEAKER_04]: So glad that you're with me. And I've got Mel Madison, who's always a blast. I love Mel. Mel, how are you?
[00:01:40] [SPEAKER_04]: Welcome to this hour. How are you?
[00:01:42] [SPEAKER_05]: I am doing well and it's, it's great to be back. It's been a little while and I'm glad that you're feeling better as well.
[00:01:50] [SPEAKER_04]: I know you were, uh, a little bit. So glad to have you back as well. Thank you so much. How's the, uh, cleanup going in the, in the, in the location that, uh, you are on in the East coast with, uh, Helene?
[00:02:04] [SPEAKER_05]: Yes. Uh, I am based out of North Carolina. I'm in kind of the center of the state. So we had some flooding, but nothing like the Western part of the state had, um, where I'm at.
[00:02:14] [SPEAKER_05]: Everything is relatively back to normal and good. Um, but there's still just tons of damage out there. Um, the areas that were hit hard, uh, are, are areas I'm very familiar with.
[00:02:25] [SPEAKER_05]: And they're just, they're just a lot of differences, I would say, especially for listeners that might be kind of in the Western part of the United States, because, um, a lot of the big federal areas, national forests and things in the Western part of the United States, people don't live in them.
[00:02:39] [SPEAKER_05]: Um, what happened out here, out East is, is because these areas were settled hundreds of years ago, a lot of communities are kind of grandfathered in and there there's literally like you drive through what seems like a wilderness area or a national forest area.
[00:02:54] [SPEAKER_05]: And you think it's just all open land. And then all of a sudden you hit a small community, um, in the mountains of 10 or 15 people that have been, you know, people have been living there literally for hundreds of years.
[00:03:04] [SPEAKER_05]: And so there's a lot of really disjointed communities that still don't have access. Uh, bridges are still out. So there's a lot of, uh, suffering still going on out there, but I think that the people are doing their best to take care of themselves.
[00:03:17] [SPEAKER_04]: Yeah. And, uh, that's interesting. Community is kind of grandfathered in. That's an interesting thing to think about.
[00:03:23] [SPEAKER_05]: Well, well, they are. And that's why you don't have, you know, like BLM land or wilderness designation where there's no roads. You don't have a lot of wilderness designations in North Carolina. It's simply because, uh, many of these areas were settled in the 16 and 1700s. And so by the time, um, people like, uh, Teddy Roosevelt with the national parks, by the time the federal government came in to say, Hey, we're claiming this as federal land.
[00:03:49] [SPEAKER_05]: There are already communities there. And so there's a lot of communities that are really back in those hills, um, in a way that you don't see much out West because they simply claim that land for the federal government, uh, before people had time to develop communities that, you know, the higher elevations or, or back in the, in, in the mountains and hills.
[00:04:10] [SPEAKER_05]: So, so you just have a lot of, uh, small communities, um, that really are isolated right now, uh, even, you know, two, three weeks later, uh, cause they're deep down back in there.
[00:04:22] [SPEAKER_04]: Wow. It reminds me sort of the, uh, you know, the Bundy ranch, um, and the letting go of, uh, or at least coming to going after, um, some of the things and saying, okay, uh, they're going to be let go, right.
[00:04:38] [SPEAKER_04]: Let out of prison and the case is going to go away, which it should, it was, shouldn't have even, they should have, should not have even been incarcerated, but it really goes back to trying to hide the 1866 law that 11,000 acres of Nevada are,
[00:04:52] [SPEAKER_04]: um, not owned by the feds. So I just wonder how much more that goes on where it wasn't adopted by their constitution. So they didn't want anyone to realize this. And so they just basically went, Oh, I'm okay. You're out of prison. And, um, we won't look at you guys anymore. You know, that is a non case, but it's kind of interesting when it comes to land. Right. And, uh, who owns what? I don't know. I always find it kind of fascinating.
[00:05:15] [SPEAKER_05]: So, you know, and a lot of this land is land, you know, that the government would love to get their hands on too. Um, you know, you have areas in these mountains, um, in North Carolina, there's a town called spruce pine where a certain type of courts is mine. That is necessary for like 95% of chips. You have different areas that weren't super severely affected by Helene, but just a little bit to the east of the
[00:05:45] [SPEAKER_05]: Appalachians in Kentucky, the Eastern side of the mountains where, you know, studies have shown like there's huge deposits of rare earth minerals and different things. Um, that just, you know, they're having trouble getting to, as I mentioned, because, because people actually own some of this land. And so you do wonder, uh, when you see these things happen, like it, it seems to work out a little bit that, Oh, well, maybe these people won't be able to rebuild, or they won't be able to pay the flood insurance premiums that they'll need to.
[00:06:13] [SPEAKER_05]: And it will give the government an opportunity to come in and clean some of this up. So I wouldn't be surprised to see, uh, you know, in the years to come that a lot of this land winds up being, uh, owned or bought by either large corporations or the government, um, for, for mineral resources, which is very, very rich.
[00:06:33] [SPEAKER_04]: Or the government behind those corporations. So not exactly a private deal, but more, more government money behind it to look private.
[00:06:43] [SPEAKER_04]: Yeah. Yeah. Um, interesting. Yes. Uh, okay. So there was so much, uh, to talk about. I want to talk about rising debt, uh, cost to service that debt. You've got to bring that up.
[00:06:56] [SPEAKER_05]: Yeah. I mean, so we, we run on here in the U S on a fiscal year, uh, meaning they, they account everything, um, from October 1st to September 30th. So just a couple of weeks ago, we finished that up.
[00:07:08] [SPEAKER_05]: Um, and so we finally get some of the first numbers on full year and in the, uh, congressional budget office, uh, released something on October 8th, which just showed exactly what's going on.
[00:07:23] [SPEAKER_05]: And, and they showed that even though our revenues as a country increased by a half of a trillion dollars, meaning we, we took in more in taxes, a ton more, uh, than last year, we actually had a huge continuing to explode fiscal deficit.
[00:07:38] [SPEAKER_05]: And when you, when you drill into the details of the reporting and what's going on and you say, well, where's all this extra tax money being spent?
[00:07:46] [SPEAKER_05]: It's pretty clear. It's going to, to basically just pay interest on the debt. And this is, this is why I think, even though, um, by, you know, measures that let's say wall street cares about the economy is doing good.
[00:08:01] [SPEAKER_05]: The average American is suffering, but by wall street measures, the economy is doing good. Stock markets doing well. GDP is doing well.
[00:08:08] [SPEAKER_05]: And you wonder why is the federal reserve cutting interest rates by 50 basis points. And I think the reason why Jerome Powell and the fed felt the need to really slash interest rate is they're looking at the amount of money that we're now spending on servicing the public debt.
[00:08:24] [SPEAKER_05]: So, um, the largest outlay by far, um, was interest on the public debt. So in 2023, we spent $710 billion and last year we spent $950 billion, which is a 35% increase.
[00:08:43] [SPEAKER_05]: Yeah. It's, it's, it's massive. Um, and in, and it goes ahead of defense department of DOD was 826 billion.
[00:08:53] [SPEAKER_05]: So well over a hundred billion dollars more on the debt. And the only thing that's bigger in the whole budget is social security. That's the only thing. And, and the only that, and there's nothing that increased more. Um, there was, um, due to accounting, uh, the department of education increased, but that was simply because the Supreme court overruled, um, the, the student loan forgiveness.
[00:09:19] [SPEAKER_05]: And so they had taken $300 billion credit, you know, they debited $300 billion to the department of education that they had a credit back to the, uh, department of education. And so it's, it skewed some numbers, but the reality is, is that this interest on the debt is just getting truly unsustainable where it's, it's so high that the federal reserve, it doesn't matter how well or how poorly the economy is doing.
[00:09:47] [SPEAKER_05]: They need to keep interest rates.
[00:09:49] [SPEAKER_05]: It's low because if it keeps at the, if they keep the interest rates at this level, um, it's going to go up another 30, 40% next year. Um, because there's the debt has to be reissued.
[00:10:02] [SPEAKER_05]: So the five year bonds that were issued five years ago in 2019 that were issued at, you know, half a percent, they need to be reissued that that's trading at 4% now. All of this is adding to this cost. And so what we're seeing, which is really interesting is the federal reserve cut interest rates, but the 10 year treasury bond is at a higher yield, meaning the rates are going up on debt instead of down.
[00:10:27] [SPEAKER_05]: And that's what you see in emerging market economies. That's what you see in places like Brazil or Columbia. It's a sign that investors are losing faith. And so we're really starting to head into this end game of this whole dollar debt spiral.
[00:10:42] [SPEAKER_04]: Right. And, um, you know, these are just signs of it. It's not here yet. Um, but it's, it's, it's, it's a sign. So these are things that you would see in those other countries. And, uh, you might want to say that once more for those that didn't catch that or in the car driving, you know, um, the, the cost is right. Is rising on what? So that people can understand, um, that this is not, this, this is, uh, not usual, right. For America to have this happen.
[00:11:11] [SPEAKER_05]: No, it's, it's not, it's not usual at all. And people look back and they look over time and they see at these emerging markets, countries like Argentina, Turkey, Columbia, Brazil, when do they have currency crisis? And normally a currency crisis starts to occur when what that country has to pay out, meaning non-discretionary type spending starts to exceed what they're taking in, in tax receipts. And we are now at that point.
[00:11:39] [SPEAKER_05]: And what I mean by non-discretionary spending is basically if you add up social security, Medicare interest on the debt, you essentially need every dollar the U S government collects in taxes just to pay Medicare, social security and interest on the debt. Everything else right now is being funded by new issuance of debt or deficits basically.
[00:12:03] [SPEAKER_05]: So the government's taking in four or 5 trillion, but they're spending 7 trillion. And every year we're now issuing $2 trillion in debt. So according to the CBO, um, just to give you the exact number, uh, the, the debt last year is estimated to be a 1.8 trillion. Okay. The deficit. So, so in other words, that's, that's $2 trillion. Now, just to give you an example of how much that is, um, before the financial crisis, as recently as 2008,
[00:12:31] [SPEAKER_05]: the entire balance sheet of, for example, the federal reserve of how much debt they had bought was $800 billion. Right. So we're talking like 225% of what it took this country, 225 years to build up. And we're doing it in a matter of 12 months.
[00:12:48] [SPEAKER_04]: Wow. Be right back more with the fantastic Mel Madison. The book is quads, by the way, Mel Madison.com on the Kate Daly show.
[00:12:59] [SPEAKER_01]: Guys, our country is literally $34 trillion in debt. Biden inflation is only making it significantly worse.
[00:13:07] [SPEAKER_01]: The fed just keeps on printing money. The printers are running 24 seven. It means your costs go up and your quality of life goes down.
[00:13:16] [SPEAKER_01]: So like I always say, I want you to be prepared. Don't just bury your head in the sand, actually do something.
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[00:13:52] [SPEAKER_04]: To learn more text 98 98 98 and then just text my name Kate. K A T E. How simple is that? You've got
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[00:14:14] [SPEAKER_11]: Kate. This is the Kate Daly show speaker soothes my brain. So in the sounds of Starbucks,
[00:14:40] [SPEAKER_04]: welcome back Kate Daly show. I've got Mel on with me today. And of course, it's always a good day
[00:14:46] [SPEAKER_04]: when you got Mel in the house. And of course, this is the next seven days. We've got Dennis Prager,
[00:14:51] [SPEAKER_04]: Laura Logan. I have the inventor of the ghost gun. I've got amazing grace, you know, her video,
[00:14:57] [SPEAKER_04]: and her deep dives, all kinds of guests coming up, even Gerald Salente. I know crazy. But I love
[00:15:05] [SPEAKER_04]: all of these wonderful guests. And Mel is one of my favorites. Mel Madison. The book is Quaz.
[00:15:11] [SPEAKER_04]: MelMadison.com. M-A-T-T-I-S-O-N. And of course, you've got to talk about Mel. You've got to talk
[00:15:17] [SPEAKER_04]: about this Trump spoke at in Chicago. Can you tell people about that? Yeah.
[00:15:23] [SPEAKER_05]: So this is very recent. Just a couple hours ago, he wrapped it up. He did a very long and in-depth
[00:15:31] [SPEAKER_05]: interview with the editor-in-chief of Bloomberg News, actually, who Trump pretty much destroyed.
[00:15:39] [SPEAKER_05]: I think he did his best to go after him and his policies. But Trump and him really got into a back
[00:15:47] [SPEAKER_05]: fourth. It was at the Economic Club in Chicago. And we saw the stock market kind of tail off and
[00:15:52] [SPEAKER_05]: go down a little bit at the end of the day. And I think part of that was in reaction to some of
[00:15:57] [SPEAKER_05]: Trump's comments. Because he made very clear, in a way that I've never heard him make clear before,
[00:16:04] [SPEAKER_05]: just exactly what he's prepared to do to reinstitute America as a manufacturing power,
[00:16:11] [SPEAKER_05]: as a place where labor is valued and to take care of the American worker. He basically said things
[00:16:18] [SPEAKER_05]: like, look, maybe this 10, 20 percent tariff stuff is not going to work because I want companies,
[00:16:24] [SPEAKER_05]: I don't care if they're based overseas, but I want them to build it in the U.S. I might need to do 200,
[00:16:31] [SPEAKER_05]: 2,000 percent tariffs. It doesn't matter what the number is. I'm going to basically stop all of this
[00:16:37] [SPEAKER_05]: importation of cheap goods that's destroying things. And the other thing he talked about,
[00:16:43] [SPEAKER_05]: Google, he talked about what might need to happen to organizations such as that and taking down some
[00:16:50] [SPEAKER_05]: of the power from big tech. He talked about other things. The one thing I might have disagreed with
[00:16:56] [SPEAKER_05]: him a little bit about is he's very defensive of keeping the U.S. dollar as reserve currency.
[00:17:04] [SPEAKER_05]: I feel that the dollar as reserve currency actually hurts the United States. It artificially
[00:17:10] [SPEAKER_05]: inflates the dollar. And what that does is it makes it easy for us to import things, but it makes
[00:17:16] [SPEAKER_05]: our labor expensive and harder for us to export things. And so, you know, I had one disagreement
[00:17:22] [SPEAKER_05]: with him on that. But other than that, he was very, very clear. He was very tough minded.
[00:17:28] [SPEAKER_05]: Terrifts are coming. Breakup of big tech, if necessary, is coming. All the things that he felt
[00:17:37] [SPEAKER_05]: like, you know, I think he wanted to do in his first term, but he wasn't confident enough to really
[00:17:42] [SPEAKER_05]: make happen. And he did in kind of half measures like, oh, we're going to put a little bit of tariffs
[00:17:47] [SPEAKER_05]: on China or whatever. And I think he realizes now he's got to really institute these things. The other
[00:17:53] [SPEAKER_05]: thing, last thing I'll mention is he talked about reigning in the Federal Reserve as well, which is
[00:17:59] [SPEAKER_05]: another one of my big concerns and what they do and how they manipulate our economy. So I think a lot
[00:18:05] [SPEAKER_05]: of these things, you know, even though they might have not been pleasantly received by the stock
[00:18:09] [SPEAKER_05]: market, when you look at the average American and what they mean for the average American, I think they
[00:18:13] [SPEAKER_05]: were very positive. And just a sign that he's feeling more confident as we get closer to election
[00:18:19] [SPEAKER_04]: day. Right. And kind of going more into detail instead of just talking about tips for waiters
[00:18:25] [SPEAKER_04]: and things like that and paying for, you know, pregnancy. I just there's some things where I just
[00:18:32] [SPEAKER_04]: left me scratching my head. And if anyone's wondering about tariffs, I know people want to hear that. I
[00:18:38] [SPEAKER_04]: know people want to hear that we've been giving them the slide. You know, they've been able to do
[00:18:42] [SPEAKER_04]: anything they want. Now he's going to come in and please that. Remember that Congress, article one,
[00:18:46] [SPEAKER_04]: section eight, paragraph one, the Congress shall have power to lay and collect taxes, duties, imports
[00:18:52] [SPEAKER_04]: and excises and to pay the debts and provide for the common defense and general welfare of the United
[00:18:57] [SPEAKER_04]: States. That does not mean the welfare program. And you mentioned social security earlier. So
[00:19:02] [SPEAKER_04]: Congress has to has to come forward on all of that. But which we never talk about. But you mentioned
[00:19:08] [SPEAKER_04]: social security in the last segment. And I was kind of chuckling because they never run out of welfare
[00:19:13] [SPEAKER_04]: money, only social security money. And it's kind of I mean, it's glaringly obvious, you know, what what
[00:19:21] [SPEAKER_04]: pile of money they like to abuse the most. And it's never going to be welfare money. And so when I brought
[00:19:28] [SPEAKER_04]: up the welfare, it just reminded me of that. It's just so amazing, isn't it? Amazing.
[00:19:32] [SPEAKER_05]: No, it is exactly. And you also bring up a lot of great points about who has the authority,
[00:19:38] [SPEAKER_05]: who has the power of the purse, which which is one of the most important things that our founding
[00:19:42] [SPEAKER_05]: fathers did. Right. Right. Is they they wanted a check on the executive. They gave the executive
[00:19:49] [SPEAKER_05]: a lot of powers, but they knew that if you gave those enforcement and those execution powers
[00:19:55] [SPEAKER_05]: and you also get in the money, it wouldn't work. We're going to come right back more with
[00:19:59] [SPEAKER_04]: melmadison.com. People need a reminder about about that. You know, be right back.
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[00:22:53] [SPEAKER_04]: All right. Welcome back. Kate Daly show. Oh man, if I don't laugh, I don't know what I'm going to do
[00:22:58] [SPEAKER_04]: through all of this, but let me just tell you, I've got Mel Madison on with me and that's always,
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[00:24:08] [SPEAKER_04]: if you can, as a supporter of this particular show, I've got Mel Madison on and you were going to say
[00:24:13] [SPEAKER_04]: something real quick about, I had brought up the Congress, you know, their duties and we don't
[00:24:18] [SPEAKER_04]: really ever get reminded of what is Congress's role and what is the presidential role. And then I
[00:24:23] [SPEAKER_04]: have a caller on hold. Did you want to make a few comments about that? Well, I think, I think really
[00:24:29] [SPEAKER_05]: quick, I did want to, you know, as I was agreeing with you on that point, but also add, you know, one
[00:24:34] [SPEAKER_05]: of the things I love about your show is, you know, we're not here like mass media or Fox news to just
[00:24:40] [SPEAKER_05]: be the mouthpiece of one party or the other one. And there is obviously a bit of a statesman and a
[00:24:48] [SPEAKER_05]: leader in Donald Trump, but there's also a little bit of a Barnum Bailey showman in Trump. And you
[00:24:54] [SPEAKER_05]: can't look at what he says with, you know, through rose colored glasses, you have to be real about it.
[00:24:59] [SPEAKER_05]: And, you know, the place that we've found ourselves in from a financial and economic standpoint as a
[00:25:05] [SPEAKER_05]: country, there's simply not like a free lunch way to just magically get out of it. And a lot of times
[00:25:10] [SPEAKER_05]: he comes on and we're going to do tariffs, but there's not going to be any inflation and everything.
[00:25:13] [SPEAKER_05]: I've got an answer for everything. And, and the truth is, I think what you have to do is you have
[00:25:18] [SPEAKER_05]: to rationally compare what is someone like a Kamala Harris saying is the solution and what are the
[00:25:24] [SPEAKER_05]: negative consequences there? And you know, she doesn't say anything. She just doesn't.
[00:25:28] [SPEAKER_05]: No. They put things out there, which is nothing but giveaways by the guy, just massive power grabs,
[00:25:37] [SPEAKER_05]: money grabs by the government and then redistribution. Yeah. Trump is more free market,
[00:25:41] [SPEAKER_05]: but that doesn't mean there's not consequences. If you're going to have tariffs on things,
[00:25:46] [SPEAKER_05]: there is a good chance that the prices of things are going to go up. Yes. But if you stop inflation,
[00:25:51] [SPEAKER_05]: excuse me, not inflation, immigration, um, and, and you have prices go up, there is a need for
[00:25:58] [SPEAKER_05]: workers in this country. There's a reason why wages, real wages went up under Trump and not under
[00:26:04] [SPEAKER_05]: Biden. Right. And the reason why is there was some inflation under Trump, but wages went up more
[00:26:08] [SPEAKER_05]: because there wasn't immigration. When you open up the floodgates of immigration, what you do is you
[00:26:13] [SPEAKER_05]: essentially give companies free labor. You, you take away any power of labor to, to negotiate wage
[00:26:21] [SPEAKER_05]: hikes in line with inflation. So while I believe Trump's policies will cause inflation, I think if he
[00:26:26] [SPEAKER_05]: seals up the border, you'll see wages, not only increase in line with inflation, but more than
[00:26:32] [SPEAKER_05]: inflation, just as they did under him, which is called real wage increases. Okay. And if you have
[00:26:37] [SPEAKER_04]: Kamala's plan, it's the opposite. I just want to be unburdened by Kamala. Cause if I have to listen
[00:26:42] [SPEAKER_04]: to that, she person for, uh, years, I, I don't know what I'll do. I'll jump off a bridge. Uh,
[00:26:49] [SPEAKER_04]: hi caller. Welcome to the show. Uh, go right ahead. You're on with the mill Madison.
[00:26:54] [SPEAKER_02]: Hello, this is one of my favorite subjects to speak about. And the fact that a lot of people don't
[00:27:00] [SPEAKER_02]: realize is that government spending is 22% of our GDP and currently government spending is 30% above
[00:27:08] [SPEAKER_02]: the revenue they take in. So if we cut just to baseline and say, we're going to run a balanced
[00:27:15] [SPEAKER_02]: budget, that is a 6% cut in our GDP. And right now that would put us at a negative GDP into recession.
[00:27:23] [SPEAKER_02]: So that's one reason why they keep this machine running at the weight they do is because that's,
[00:27:30] [SPEAKER_02]: it is a main driver to our economy. Right. And the way they're doing it today is so disingenuous.
[00:27:36] [SPEAKER_02]: We talk about the interest payments on debt, that interest is paid to the federal reserve and the
[00:27:44] [SPEAKER_02]: income of the federal reserve is income to the government. So to them, it's a zero, uh, interest
[00:27:52] [SPEAKER_02]: loan whenever they borrow money. So the government looks at it as zero interest because of the way
[00:27:58] [SPEAKER_02]: the twist works. When you have Janet Yellen, who is now the treasury secretary, who was the federal
[00:28:05] [SPEAKER_02]: reserve chairman, these two entities work together. Okay. All right. So it is a mess. Thank you. Uh,
[00:28:12] [SPEAKER_05]: Mel comments. Well, the caller's absolutely right about, about everything. So we are running like six,
[00:28:19] [SPEAKER_05]: seven percent, uh, deficits as a percentage of GDP. And if we did not have those, um, if we're growing
[00:28:27] [SPEAKER_05]: the economy at, let's call it 3%, let's be generous. And we're running a 6% deficit, we would be running
[00:28:33] [SPEAKER_05]: at a 3% negative GDP, which is a severe recession, right? It's a severe recession. There would be massive
[00:28:39] [SPEAKER_05]: unemployment. Um, and, and that, that is what is going on. Everything is being propped up by this
[00:28:46] [SPEAKER_05]: massive fiscal debt, fiscal deficit. He mentioned, uh, federal reserve in that recent CBO report I just
[00:28:53] [SPEAKER_05]: mentioned. They talked about how, uh, income to the federal treasury from the, from the federal
[00:28:58] [SPEAKER_05]: reserve was up over a third of a trillion dollars this year. This is because they're buying our debt
[00:29:04] [SPEAKER_05]: at higher interest rates. And then they take that and they pay it back. So all of this is what's going
[00:29:09] [SPEAKER_05]: on. This is a cahoots game between Powell in the fed yelling in the, in the treasury. Um, and this is,
[00:29:16] [SPEAKER_05]: this is all a Ponzi scheme. And in the United States stock market is a Ponzi scheme. It has
[00:29:21] [SPEAKER_05]: nothing to do with, uh, valuations. That's why you listen to these people on like CNBC, they're like,
[00:29:27] [SPEAKER_05]: well, the stock market normally trains at 15 or 16 times earnings. And now it's at 20 times
[00:29:32] [SPEAKER_05]: earnings. It's really expensive. It's because the stock market is not trading as a discounting
[00:29:38] [SPEAKER_05]: mechanism anymore. The stock market doesn't trade based on how well companies are doing or anything
[00:29:43] [SPEAKER_05]: like that. It, what it is, is we've, we've created and manufactured a system where everybody's payroll
[00:29:49] [SPEAKER_05]: gets automatically deducted and funneled into the stock market every week through mandatory enrollment
[00:29:55] [SPEAKER_05]: 401k plans. We, we structured it where basically everything that you can do to keep the stock market
[00:30:02] [SPEAKER_05]: up is being done because that's how we make money in this country is off of taxes from
[00:30:08] [SPEAKER_05]: capital gains. And in 2023, the reason why, uh, we, we brought in a half a trillion dollars more
[00:30:15] [SPEAKER_05]: in 2024 than we did in 2023 in taxes is because the 2023 tax year, there was no gains in the stock
[00:30:23] [SPEAKER_05]: market in 2022. And so the government cannot let the stock market fall. And that's why when you look
[00:30:29] [SPEAKER_05]: at the stock market and you say the stock market's up 20%, but then you compare it to gold gold's up over
[00:30:35] [SPEAKER_05]: 25% this year. So in other words, in dollar terms, the stock market is up in gold terms,
[00:30:41] [SPEAKER_05]: the stock market is down. And that is what's happening. Everything is being debased in our
[00:30:46] [SPEAKER_05]: country. Everything is going down and in, in gold terms, but it looks good because it's going up in
[00:30:52] [SPEAKER_04]: dollar terms. Ooh. Okay. Quick caller, a caller. Do you have a quick question for Mel?
[00:30:57] [SPEAKER_03]: Greetings, Kate. All you have to do is look at what Iceland did when the banker bailout was going
[00:31:02] [SPEAKER_03]: on. They gave the bankers, I think 72 hours to get out of the country. They were going to hang them
[00:31:08] [SPEAKER_03]: and they went back to their own currency that they created. They got off the federal reserve system
[00:31:12] [SPEAKER_03]: and look at Iceland. Look at how stable they are monetarily.
[00:31:16] [SPEAKER_04]: Yeah. Yes. Thank you. I love that. Mel?
[00:31:20] [SPEAKER_05]: Yeah, I love it too. And you know, there was a congressman, I forget his name. I think his last
[00:31:25] [SPEAKER_05]: name was McFadden in the 1930s who spoke vehemently in Congress and wanted Congress to essentially pass
[00:31:35] [SPEAKER_05]: laws and arrest central bankers and the head of the federal reserve. So we have had people in this
[00:31:41] [SPEAKER_05]: country who have realized the, the corruption that these bankers are doing. And look, Jerome Powell
[00:31:47] [SPEAKER_05]: as a person, I'm not here to pass any judgment on him, but he is part of a machine that has been set
[00:31:53] [SPEAKER_05]: up since 1913 when the federal reserve was put in place and goes back to 1694 when the bank of
[00:32:00] [SPEAKER_04]: England was started. We're going to come right back. It needs to be stopped. We're going to come right
[00:32:14] [SPEAKER_08]: guys. This is the Kate Daly show. The government can. I love that song. And it's so true too. It's
[00:32:48] [SPEAKER_04]: so criminal and so true. Welcome back to the show. Make sure and take advantage of that incredible
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[00:33:58] [SPEAKER_04]: Madison, let's talk about, um, uh, Hormala's, uh, economic plan.
[00:34:05] [SPEAKER_05]: Yes. And you know, I like to do a couple of things. One, my background is in economics, finance.
[00:34:12] [SPEAKER_05]: I have an MBA in finance from Duke university. I spent over 25 years working in financial services,
[00:34:18] [SPEAKER_05]: spent time as a CEO of, of three different broker dealers registered by the sec FINRA. So
[00:34:24] [SPEAKER_05]: I like to focus on what I know about. That's what I'm talking about. Congressional budget office
[00:34:28] [SPEAKER_05]: reports on, but Kamala did release an economic plan for black men yesterday. And I looked at it and
[00:34:35] [SPEAKER_05]: honestly, I couldn't believe how insulting it is to black men. Like if I was a black man, I would,
[00:34:41] [SPEAKER_05]: I would feel very, very like just who is this woman really? I mean, so it's, it's on her website.
[00:34:48] [SPEAKER_05]: It's a nine page document. I always go to primary sources. I don't read news articles. I find where
[00:34:53] [SPEAKER_05]: it comes from. Yes, who, yes, exactly. I mean, who is this Indian woman raised in Canada?
[00:34:59] [SPEAKER_04]: Talking down to these guys. Oh, sorry. Go ahead.
[00:35:03] [SPEAKER_05]: No, but this is her key. This is, it's titled vice president Harris will deliver for black men.
[00:35:10] [SPEAKER_05]: She will provide the tools to black men to build wealth, support their families and lead in their
[00:35:16] [SPEAKER_05]: communities. And she has five key points. Here's three of the key points. Number one,
[00:35:22] [SPEAKER_05]: she wants to legalize recreational marijuana and allow black men with criminal convictions to be
[00:35:27] [SPEAKER_05]: employed in this new industry. I mean, so this is what she thinks is what black men want. They want
[00:35:33] [SPEAKER_05]: weed legalized and they want to their criminal records swept clean so they can sell marijuana.
[00:35:39] [SPEAKER_05]: That's, that's, that's one of her key points.
[00:35:41] [SPEAKER_05]: Oh my gosh. Go ahead. Okay. Another one of her key points, support a regulatory framework for
[00:35:48] [SPEAKER_05]: cryptocurrency and other digital assets. So black men who invest and own these assets are protected.
[00:35:54] [SPEAKER_05]: So you see the picture she's painting here that black guys are a bunch of, you know, drug dealing
[00:36:00] [SPEAKER_05]: people that, that, that manage their finances and crypto. And then the third thing is she's going
[00:36:06] [SPEAKER_05]: provide $20 billion in forgivable loans to black men to start businesses. And then she lists the type
[00:36:14] [SPEAKER_05]: of businesses and it's like, so they can buy lawnmowers and mow lawns. This is in the document.
[00:36:20] [SPEAKER_05]: So they can buy a hair clippers and start a barbershop. These are the example. No, this is
[00:36:26] [SPEAKER_05]: in anyone wants to read this nine page document. It is the most insulting thing to black men that I've
[00:36:33] [SPEAKER_05]: heard since Obama said the only reason black men aren't voting for Kamala is because they're sexist.
[00:36:39] [SPEAKER_05]: So basically if you listen to Barack Obama and Kamala Harris, two people who honestly are less
[00:36:45] [SPEAKER_05]: a part of the black community in this country than I am, I I'm a white man, but I was born in Chicago.
[00:36:51] [SPEAKER_05]: I grew up in the Appalachian mountains of Virginia and Blacksburg. I went to public schools
[00:36:56] [SPEAKER_05]: that were 50 plus percent black. I think that's, that's, that's how I grew up. You want to know how
[00:37:02] [SPEAKER_05]: Barack Obama grew up in Hawaii and Indonesia? Kamala grew up the daughter of an Indian PhD or whatever
[00:37:09] [SPEAKER_05]: in Canada. And then these people come out and try to get black votes by literally promising them
[00:37:15] [SPEAKER_05]: a cryptocurrency. They can get jobs in the drug industry. We're not going to allow background
[00:37:21] [SPEAKER_05]: checks anymore for employment. We're going to let you mow lawns and start barbershops.
[00:37:27] [SPEAKER_04]: It's insulting. The Indian daughter of a Marxist, avowed Marxist, turns his daughter into a Marxist.
[00:37:33] [SPEAKER_04]: She's an Indian. She's mostly white, by the way, a sliver of Jamaican. And she's telling black man,
[00:37:40] [SPEAKER_04]: the black man that they need her loans, which is our tax money to start businesses in the
[00:37:48] [SPEAKER_05]: lawnmowers and clippers. Kate, I could go on and on. It's like, we're going to get black men,
[00:37:53] [SPEAKER_05]: federal jobs by abolishing any education requirements. Like it's so insulting. This is a quote.
[00:38:01] [SPEAKER_05]: Vice President Harris will eliminate degree requirements, you know, and promote pathways
[00:38:07] [SPEAKER_05]: for those without, this is what they're doing, you know, and then they want to also give away more
[00:38:14] [SPEAKER_05]: money. Something I haven't heard of before. This is one of the bullet points. She's going to relieve
[00:38:18] [SPEAKER_05]: the burden of medical debt. So she wants to just pay off everybody's medical debt, everybody's
[00:38:23] [SPEAKER_05]: student loans. She wants to give $25,000 down payment for homes. I mean, she wants to increase
[00:38:30] [SPEAKER_05]: the childcare tax credit. And all of this is in her plan to support black people. So it's painting the
[00:38:37] [SPEAKER_05]: picture of black people. These are people that are just having kids that are living off of welfare,
[00:38:41] [SPEAKER_05]: that want to start barbershops, that sell weed and do all their financial transactions in
[00:38:48] [SPEAKER_05]: cryptocurrency. That is the portrait that is painted by this document. It is the most insulting
[00:38:54] [SPEAKER_05]: and racist document I have ever heard. I'm just baffled. If I was a black man, I would be so
[00:38:59] [SPEAKER_05]: insulted by this. I would be like, who do you think we are? You think that we're not smart enough to
[00:39:04] [SPEAKER_05]: understand that your policies, that your high taxation, open border, you know, leftist Marxist
[00:39:12] [SPEAKER_05]: policies are not good for us as people that help build this country, people that the majority of
[00:39:19] [SPEAKER_05]: African-Americans, their ancestry goes back in this country hundreds of years. They fought in our wars,
[00:39:25] [SPEAKER_05]: that they deserve a part of the American dream. And that what they're not asking for is to be able
[00:39:31] [SPEAKER_04]: to sell weed and start barbershops. I don't, I hate to laugh because it is that bad. It's that
[00:39:37] [SPEAKER_04]: insulting. It's that horrific. And I promise you they're throwing this race. I mean, you can't get
[00:39:42] [SPEAKER_04]: any worse than, I don't know how to be more insulting to people. I, I, and I'm really hoping people aren't
[00:39:49] [SPEAKER_04]: going to stand for that, especially black folks. I hope you're not standing. I hope so. Because I
[00:39:54] [SPEAKER_04]: promise you, I just saw something that said she's getting out more freebies folks. She,
[00:39:59] [SPEAKER_04]: she's not getting the support. So now she's got to whip out more freebies and by freebies, I mean
[00:40:04] [SPEAKER_04]: our tax dollars, not free. So amazing. Yeah. Yeah. It's all this identity politics. It's
[00:40:11] [SPEAKER_05]: stereotypical. It's racist. The Democrat party has always been racist. They're the party of the
[00:40:16] [SPEAKER_05]: Ku Klux Klan. They're the party of Woodrow Wilson. They're the party of eugenics and they're
[00:40:21] [SPEAKER_05]: a party of racial politics. And I think the American people are starting to wake up for it. And I think
[00:40:26] [SPEAKER_05]: Winston Churchill said the American people can always be counted on to do the right thing
[00:40:31] [SPEAKER_05]: after they've tried everything else. And I think Americans are realizing this is a bunch of bunk.
[00:40:37] [SPEAKER_04]: Yes. And the Democrat party is known for skimming off the top of all the programs that they,
[00:40:44] [SPEAKER_04]: that they love to put people into. And this is the groups. These are the groups that they play off
[00:40:50] [SPEAKER_04]: of. Be faithful, be fearless. We'll see you back here tomorrow. And Mel Madison. Thank you.
[00:40:54] [SPEAKER_04]: Mel Madison.com and get this podcast by going to Kate Daly radio.com for the podcast. See you tomorrow.