Stormy Daniels Testimony, TikTok Sues U.S. & Kristi Noem Cancels Book Tour | PBD Podcast | Ep 408

30 seconds did you ever think you would

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this life

me why would you bet on Goliath when we

got bet David value giv vales contagious

this world of entrepreneurs we get no

value to hat Romie look what I become

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one number one PA M was my mom's cous it

is what it is Paul mol had a big long

hitting streak anyways uh uh Schmid and

Brett we're the we're live Tom podcast

episode 408 and we're sitting here

talking about who's the greatest third

baseman of all time anyways um okay so

let's go through some of the stories

that we got here to cover kind of few

weird things going on uh President Biden

says during uh 2020 when Trump was

President he says the inflation was what

9% is what he claims right 9% and he's

been able to lower it and he blasts uh

Americans claiming Americans have the

money to spend but not and some people

are pissed off about that Baron Trump

apparently wants to step into Political

Arena as Florida delegate at Republican

convention again that's NBC

News Green moves to oust speaker Johnson

but the audience starts boing Newsweek

interesting title is the economy as bad

as Americans think what do you think do

you think the economy as bad as you know

it is today that's some people talk

about red state is crowned best in us

for educ a wait till you see which state

is crowned the best state for Education

uh we'll share that with you here in a

minute next stormmy Daniels tells jury

about the sexual Tris with Trump at hush

money trial and the you know Adam and

Vinnie are excited to talk about this

one I mean this is a very very

interesting stuff that was shared Adams

uh uh this is not R Adams Eric Adams

says New York City is ready if Trump is

jailed is what he says by the way the

hill five twist that could shake up the

election before November X CNN reporter

mocked over comments about Mega closet

magga fans way to see what video

resurfaced from years ago of hers

canoeing through uh hardcore weather

conditions she'll show Rob will show it

to you Tik Tok sues the US government

argues ban violates Free Speech can you

imagine a company that owns Tik Tock in

us that's founded in a country that

doesn't have freedom of speech but

telling them to sue the country that

they're in for freedom of speech how

weird of a situation is that these guys

got some brass you got to give him

credit for Christine n calls off the

disasterous book to her cancelling hits

on Fox new CNN last minute we'll talk

about that cuz she keeps getting asked

the same exact question that she doesn't

want to answer Joe Biden calls illegal

aliens model citizens while promoting

amnesty and meanwhile new arrived newly

arrived illegal immigrant kidnaps

11-year-old girl and rapes

her we'll talk about the uh that Joe

Reed suggests Putin purposely Target a

Britney grinder because she's a black

queer celebrity can you can you imagine

like to go that far with that Federal

Reserve chairman uh uh says migration

boosts mortgage rates but at the same

time the President says Federal Reserve

President says rate Cuts may not come in

2024 Tom that's pretty heavy right there

for some people renters fear fear

they'll never own a home and Americans

are raking up Phantom debt in ways they

never have before I want to start off

with this Federal Reserve story here so

Federal Reserve President says rate cups

may not come in 2024 page nine uh

Minneapolis Federal Reserve president

Neil kashari Persian Guy app suggests

interest rates may remain steady

throughout 2024 stating I would need to

see multiple positive inflation readings

suggesting that this this inflation

process is on track cashar anticipating

a potential shift in labor market

dynamics indicates that a marked

decrease in job creation could warrant

an interest rate cut he previously

anticipated two rate Cuts in 2024 but

may revise this depending on upcoming

data despite reason inflation reduction

slowing and signs of a possible

reacceleration cash C aligns with fed

chare Jerome Powell in signaling

reluctance towards further rate hikes he

emphasizes the need for evidence of

declining inflation before the the

considering rate Cuts asserting there is

a limit when we say okay we need to do

more Tom thoughts on this story well Neo

cash Cari who is saying cash expensive

um with rates going to stay up he's

normally you like the way I did that um

he has normally been a a a moderate

levelheaded voice and so to hear him

coming out um

saying I'm not sure what he's really

saying here and in the spin room is I'm

not sure we were going to go with one

rate cut because here's what happened

yesterday and here's why he said it CPI

leaked yesterday CPI is not supposed to

be out to the 15th Consumer Price Index

and it looks like it's going to come out

at 3.8 3.9 which means inflation's

edging edging edging closer to 4% and

away from the 2% so they saw that and I

feel like this is him floating to the

markets to let them know hey pay

attention to your mirrors statistics

that are out there in CPI are not look

like they're getting better and we need

to see the labor market move so don't

automatically think there's going to be

Cuts now why is he saying this because

if you absolutely say there's no cuts

the stock market's going to move 2% that

day that what will happen right now

because they're counting 2% if somebody

says that if if they came out today and

said okay forget about September we

because remember everybody's angling

saying hey one rate cut this year

probably at the September mid-september

meeting of the fed and they're pricing

that in that was the markets are looking

for that cuz even a small cut in rates

on billions and billions and billions of

dollars of corporate debt is a lot of

iida and a lot of of um stock value that

you get back and so I think they're

trying to soften the blow with Consumer

Price data having leaked yesterday that

we're going to see next week it's

probably 37 38 so we're closer to four

than we are to two which really you know

um you know it says that the economy is

leveling and and struggling to get to

the better they want and it's staying

leveled that just okay so okay so let's

let's go a little further with this so

if there's if this guy's saying that and

Jerome is saying that and then you have

a story coming out with President Biden

that uh again this goes with rate

Cuts he says claims that 9% Biden Biden

claims inflation was 9% when he came

into to office when it was actually 1.4%

this is a New York Post Rob I don't know

if you have the video or not is there a

video of him saying that if you can play

this video watch this clip here folks

okay go ahead and play this I no

president's had the Run we've had in

terms of creating jobs and God bringing

down inflation was 9% when I came to

office 9% he says that without even

flinching now here's so 9% when he came

into office let me read the full story

president R interview dismissed concerns

over inflation potentially affecting his

re-election claim Americans have

multiple have ample funds to spend

despite Rising prices stating they have

the money to spend right that's the same

story with New York Post despite

acknowledging of acknowledgement of

inflation reality and impact on consumer

confidence Biden attributed to the issue

to greedy corporations so he's blaming

the corporations defending his

administration's handling of the economy

is amidst growing criticism and negative

poll ratings Biden's Defiance against

inflation worries contrast with public

sentiment and polling data with concerns

bounding over economic management so

here's where I'm going with this Tom

when did they change the way they

measure

inflation in what respect what do you

think do you remember when they used to

do it they used to do it every the the

way they uh measured inflation was every

two years and then they Chang it to uh

measuring inflation every 12 months I

don't know if you remember that do you

remember that this was like yep maybe

two years ago let me let me let me pull

this up to just a ver changing way you

measure inflation from 24 months to 12

months so we covered it here in the P

year ago so here's what I want to ask

Rob can you can you show if we have that

or not uh uh uh Brandon if you have that

if you can text that over uh uh uh uh uh

if you can text that over about uh what

do you call it U the fact that they

change it from 24 months to 12 months

okay so here's the thing here's the

thing with that when they change it from

24 months 12 months what was the

reasoning for it what was the reasoning

for it the reasoning for it is some

claim claim that going from 24 to 12

months actually showed the rates were

lower and people would say if we were

shown the 24mth rate inflation is

actually such and such it was always

higher than what they reported right and

the US government had a number that were

reporting for inflation then what versus

what it actually was so what is the

likelihood and I know this is a crazy

question I'm asking about him what is

the likelihood that Biden is saying

9% because maybe it was

9% on the way they measure it that works

against Trump but saying it's lower now

on the measurement that works in favor

of Biden I don't know if you understand

what I'm saying so it's kind of like

saying well in this category the way

these guys calculate on the golf score

of these three categories that is the

old way of doing it yes it was

99.1% but for us I'm going to measure on

this one that's a little bit more

friendly to me we're at 3.9% do you

think do you think that's what Biden it

or do you think he was just delusional

lying I first of all um if I think about

the man um I think he was probably

mistaken however you bring up a great

point it has been the great game of

politics to find the number you like the

way you like to measure it and find

somebody some Think Tank some Department

of the government oh the treasury

Department says this but the department

of agricultural said this how can you be

talking about crops if the agriculture

number I like and then oh well the

agriculture is going to favor themselves

I'm going with the treasury Department

there's always been this game on find

the number you like and then use that

and beat up the other guy but in this

case I think Biden is just plain

mistaken I think he's absolutely

mistaken like maybe he looked at his own

reports that showed that when we had

Peak inflation in 2022 it was nine

ladies and gentlemen when you put the

entire basket of goods and the total

impact on the American Consumer it was

nine and matter of fact some say it was

even worse

but they say well we're not including

energy or we are including energy Again

The Parlor game here in this case I

think Biden was just mistaken because I

mean this is a guy that's reading

teleprompters and getting mistaken the

last two weeks and he doesn't do well

just to be objective not picking on him

and not being bombastic he hasn't done

well in sort of analytical type

interviews going back and forth and I

think in this case he's just mistaken

yeah I mean he was very Analytical in

this interview Rob if you want to

played my

theology professor at the Catholic

school I went to was a guy named Riley

last name he had been drafted by the

Green Bay Packers that's pretty un name

I don't know what you're saying Tom when

you when you disrespect the president

you better watch yourself I'll take it

one step further I I watched that and it

reminds me that we're one step we're

only one set of stairs from a an even

worse president

so yeah what do you mean by that we're

only one set of

no no question about it but no Adam what

do you think about when you think about

these the inflation 9% what he said this

where was that where was that today

exactly let me just give you some

numbers um yeah you bring a great point

about going back two years versus one

year so inflation peaked at 9% in June

of 2022 here's the the chart right here

so if you go to June of 22 at that point

Biden had been president since what

January 20th 2021 that's when he took

off office so that is a year and 5

months 6 months after he took office it

peaked it hit

5% um June of 2021 so six months into

him taking Office boom it went up so the

question is how much lag time from all

the money printing that was done under

Trump and Biden so here's what Biden

could have done and should have done

better and actually what worked so we

all remember in March of 2020 Trump

passed the cares act how much money was

it $2.2 trillion of printing money so

whether that was necessary whether that

was a good decision whether that was a

bad decision go ahead and argue it boom

cares

act so obviously Biden wins the election

he comes in but he decides to do what

print more money so where does the

inflation culprit lie on is it Trump

printing the 2.2 and how much money how

much trillions of dollars did Biden

print after he got elected I would argue

that he shouldn't have done anything he

printed way too much Mone what was this

stat 40% of all the money supply in the

history of America was printed since

2020 inflation but I will give him

credit a 30-month period yep I will give

Biden credit because it peaked inflation

peaked in June of

22 a month after that two months after

that August of 2022 was that what did

Biden pass

the inflation reduction act so it

actually worked so go back to that to

that chart so since he passed it right

then inflation has come down so is he

guilty of doing the money printing in

2021 yes but is he also I guess deserved

some accolades for the inflation

reduction act the reality is this both

sides printed a hell of money and took

on more debt for the economy but we'll

see what happens with the economy at

this point by May the car's Act was

passed and ex me went into effect on

March 27 2020 Biden had been elected and

it was nearly 60 days later that they

were debating whether to change it and

he could as president he had executive

order power he had the ability to go

back with Congress that was favorable to

him and he could have there were things

that that could have could have happened

later and they talked about the

extension and they talked about where it

went the election wouldn't happen until

November you know you have march to

November but one of the first things

that he got up and did was extended it

and actually printed more so you can

talk about that but you can talk about

the inflation reduction act the

inflation reduction act that's a

misnomer that's not what it did power

raised rates radically yeah that's what

got after inflation so it wasn't like

two presidents that had the two knobs

that perfectly controlled everything

Adam yes March 27 cares started but the

it was barely one year old when Biden

and them were debating it and they

extended it so they didn't go back and

say bad Trump bad Trump we have to do

this they actually extended it and then

Powell raised rates radically poell

deserves the credit no doubt when it

comes to inflation on interest rates I'm

not saying Trump was innocent on this

I'm just saying let's make sure we look

both money is what I'm trying to say

look at all the NOS that were being just

to be clear the inflation reduction act

actually wasn't didn't have much to do

with inflation at all for when I recall

it had to do with

energy and Chip production and the chips

act there was a lot of sort of that was

stuffed like you're contradicting

yourself though no I'm not yeah if

you're saying it's because of the

inflation reduction are Act is the

reason why it work say inflation let me

let me let me say this I heard you say

the inflation reduction Act is the

reason why he could take some credit

because of that is how inflation came

down and then I you're saying the

inflation reduction act actually had

nothing to do with inflation it had to

do do with chips so which one is it is

it is it Powell is it the inflation

reduction act which one is it that

caused inflation to uh to lower and

tamper it's both is what I'm saying oh

so you're saying I'm say no one gets all

or none of the blame what I'm saying so

what part of inflation reduction are had

lowered

inflation what part of the inflation act

lowered the inflation yes go to the ACT

what was in there but I'm asking you

you're saying that Lord bro you're

asking me to find out what exactly

happened in 2022 I'm showing you the

numbers if you look at the data

this is not bro I'm saying to you you

just said the inflation reduction act

caused inflation to Tamper and go lower

then you're saying the inflation

reduction are act actually had nothing

to do with inflation it had to do with

chips so if it didn't have to do

anything with SH with in inflation

reduction it had to do with right there

look at this year according to n part

Congress the law that will raise $738

billion tax reform prescription drug

reform to lower prices and authorize

$891 total billion dollar in spending

including 783 on energy and climate

change and three years of Affordable

Care subsidies these are all taxes the

law represents the largest investment

Into Climate Change in US history yet

it's called inflationary reduction act

this thing had nothing to do with

reducing inflation so I know we want you

you know you uh uh

you your angle you're taking is this is

what reduced it I think the part where

you're always consistent what do you

always say you always say the most

powerful man what do you call it about

the uh America Jerome Jerome pal right

and he's got one of the toughest jobs

correct why because both sides hate him

right what are the chances if Trump gets

elected that pow gets fired um 100% he

already said that he's he named three

candidates Vinnie I like Vinnie kind of

converting this guy to start saying 100%

so 100% said 100% he well because I'm

not going on just sheer piss and vinegar

and emotion Trump has literally said

here are the three cand Community I

don't recall fed chairman who are

elected office and by the way we can

roll the tape I didn't say the inflation

reduction Act was the Reon inflation

come down I said in June of 2022 yeah

inflation peaked after inflation

reduction act it looked it went down

show the chart Rob do your job buddy but

what I'll tell you is this who

rightman me wait this make a t-shirt for

your job you don't like what Adam just

said to Rob Rob just got 30 minut the

other day Rob man with Rob and give him

some love cuz Rob does a great job here

we love him that's man Q code Rob

Garo cast but go ahead you were saying

That's not v he's not on the left Rob's

on the right Rob is the white guy with

the beard a white guy with the long

yesterday I really like to

share simply making one point which I

know you will agree with pbd just

because it was called the inflation

reduction act doesn't mean that it was

the only thing that was in the ACT we

saw the 95 billion doll border bill that

had nothing to do with the Border we

we're saying the same I'm simp now we're

say I'm trying to save your voice bro

all I'm saying to you this is me now Pat

this is are you sure it's 100% yes so so

what I'm saying to you is yeah the you

you gave credit to inflation reduction

act and what I'm saying it had nothing

to do with inflation cuz you said it had

nothing to do with inflation and we

looked it up I don't want to fight with

my boss but just as much as I didn't

think we were

fighting Tom we know your boss is your

wife she allows you to leave the house

for the podcast and then you have to go

back to the nursing home we know she

swings golf clubs insult her again she's

coming through the door but just like

your grilling me for or Vinnie for using

100 I'm also going to say you're saying

the word nothing the inflation eduction

did have something to

doow it's not 100 or Z I'm asking you

what and I'm saying a good percentage

say that call it 20% whatever perc what

I'm saying you is how how let's read the

700 bill on

the did we just looked at it it just

said 700 83 billion went to energy and

climate change how did that hang on Pat

there's something in there that actually

did reduce inflation is increase of

prices right yeah and we know

historically that the Affordable Care

Act 30 months after it was in place

resulted in a 20% year one increase in

people's health insurance coverage

remember that yeah it did and the by the

end of the second year people's health

insurance coverage you ran a company you

saw it increase 30% in price right so

Obama's affordable Care Act actually

increased the cost of health insurance

coverage for American workers getting it

from their employers but watch guess

what it also did the inflation reduction

act had three years of Affordable Care

Act subsidies which were meant to reduce

the cost of health insurance that your

previous boss Obama had increased with

the Affordable Care Act so I guess part

of the um inflation reduction act did

try to correct some inflation that was

caused by by the way I'm not making this

up

I I totally get it but all I want to do

is I want to make sure we look at this

thing here to see how fantastic this

inflation reduction Act was according to

Adam but years of go back to that

website okay so go to the link that

Brandon sent us if you can go to the

actual website which is the BLS okay so

check this out folks remember how I told

you they changed the way they measured

inflation so here's an article from what

website can you see the website at okay

us Bureau of Labor Statistics okay

Commissioners Cor cor look at the date

January 10th 2023 this is roughly put it

16 months ago 17 months ago okay read

the first words uh Rob if uh go ahead

every year on February 14 there's a

celebration of love this February BLS

will celebrate an improvement on

consumer price index which we hope you

will love now watch

this look at the way they're explaining

it beginning January 2023 index

scheduled for publication on February

14th Valentine's Day

BLS okay having nothing to do with BLM

BLM is something else this is BLS this

is Bureau of Labor Statistics plans to

update the spending weight in the

calculation of the CPI every year

instead of every two years

spending of every year instead of every

two years they Chang the calculation of

inflation to favor them at this time

because it would have been worse being

reported what it really was than what

they were sing so it made the American

people calmer but the real inflation was

like 30 40 50% higher give or take okay

and and and a part of this was because

China's economy slowed down and Biden

drained the Strategic petroleum Reserve

that's all kind of hand inand together

but anyways uh going back to asking the

question about him and he turns around

and he says Americans have the money to

spend they're not spending this leads to

the next story and this is a question

for you guys if you're listening to this

okay is the economy as bad as Americans

think is the economy as bad as Americans