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You know, everything is the same status quo.
Yup.
I was like, I can't, I was listening to the jurors
on the Lindsay trial.
I was getting literally physically sick, stock mom.
These people are, are looming to say crazy.
And that's why this, that's why Reddington
was talking about making a deal
because he knows the chances of getting a jury exact
like that, that good.
Or there was only one holdout when this woman brutally
strangled her three children one by one,
the chances are slim, right?
I mean, I know it's mask and a stand,
but I really think the chances of getting a jury
where everyone is absolutely completely not job
except for one person is, you know, it's kind of slim.
So, well, when people tell you that they are,
okay, when they say the prosecution was not
compassionate to Reglindsay in the opening statement,
I by lost it, stock mom, I by lost it, compassionate to Lindsay,
not to the three children she murdered.
Yeah, but what?
What?
That's ridiculous, absolutely ridiculous.
If I saw that woman I'd spit right in her face,
seriously, I would, I would.
And we are not talking about the young little kids,
you know, that like 18, 20 year old.
We're talking about the elderly women already.
That's absolutely disgusting.
All right, well, you know what,
we might as well get right into the song, right?
And then we can get Wall Street out of the way.
I want to talk about some data.
We do have some market moving data coming up this week.
We also have oil ripping, a lot higher.
President Trump coming out and saying that this oil prices
are not going to come down until after the midterms
and he expects, doesn't he expects this to be wrapped up
after the midterms.
And guys, here's, I just want to comment on that.
People understand that all these people are also,
oh, he lied.
He like, he never, first fully never get a timeline.
Number one, number two, he's getting ahead of the news
cycle, the news story because this is on purpose.
All right, the IRGC knows exactly what they're doing.
They're dragging their feet.
I guarantee you there's democratic backing for them
to drag this out as long as possible.
All right, so it's not that President Trump
wants this to drag on.
Do you really think he wants this to go into midterms
or past midterms?
Do you really think he wants American citizens
to suffer at the pump and diesel to be this high?
I see all these people, I believe for him three times.
Listen, keep whining the way you are.
We actually, this actually could cause a larger pullback
in the market that I have been talking about for a while.
And it could be a good buying opportunity
if you're looking to purchase equities.
Other than that, I'm not sure what to tell people
that you've got to, you really did you really think
when we got into this was a conflict then,
or that it was going to be over in a couple months?
Wars in the Middle East never lasts a few months.
Did I hope that it would be wrapped up over the summer?
Yes, of course, everyone wants that.
I don't want to see my fellow Americans suffering at the pump.
I don't want to see grocery prices going back up
because diesel is moving products across the country
and it's costing more.
You know, I don't, no one is blindly, you know,
just taking what this administration is saying
without analyzing it.
There are things that we can criticize President Trump's choice.
We can criticize this administration
and some of the choices that they're making.
But I'll tell you, at the end of the day,
all right, we dodged a bullet.
Could you know where we would be economically
if a Democrat if Kamala Harris was sitting in the White House?
Do you guys have any idea how bad it would be?
All right, our market made, people's 401Ks at all time highs.
The market making all time highs over and over and over again.
Yes, the bond market is struggling right now for sure.
But people just take a step back and just take a deep breath.
Look at where we are.
Look at how much we've gotten accomplished.
And if you really voted for President Trump three times
and you're giving up because this Warren I ran
is taking longer than we originally thought,
I don't know what to tell you.
I really don't.
What do you think, Jay?
No, I mean, if people, if you're going to be old about that,
then you're cutting off you nose despite your face.
That's all you don't like now.
You're going to hate it a lot more, trust me.
It's not going to be close.
And it's going to happen fast.
Oh, yeah.
Oh, yeah.
We had inflation, guys, that was,
people were saying 9%.
Keep going.
It was three times that.
All right, we had a politicized,
you know, I should get into this afterwards.
I'll just say one last thing.
We had a politicized Fed that cut rates
before the last midterms.
It was a gift to Kamala Harris.
Inflation was high then.
Inflation earlier this year, trueflation had CPI down
under 2% at 1.9.
At Jerome Powell, turned his nose up to President Trump.
It said, you want to investigate my spending
at the Fed Mahal as I call it.
Well, I'm not going to give you a rate cut.
So, but we'll get into all that.
All right, you want to get the song, get the song on?
Yeah.
Just right before that.
I just want to, we want to be accurate.
We hate Mamdani.
But this whole thing going on around,
he said something happened is quite honestly
being taken out of context.
It apparently stems from his story of when he was in school.
And he said he was pulled out of school
on September 11, 2001.
And a teacher pulled him out and another student
and told them because they were Muslim.
Now, I don't believe even a lot of this happened at all.
But he said the teacher said that something happened this morning
and warning them that they might face bullying
because of their background.
That's where the something happened apparently came from.
Ilhan Omar said some people did things.
That we know she said because that's on video.
But I just want to be accurate and have everybody accurate
and trust me, it doesn't change anything about Mamdani
and all the other stuff that he's said who he's associated with,
things that his family has said at all.
But we just want to be accurate on that.
That it the something happened is kind of being pulled
and used out of context.
Just saying, just putting that out there to be accurate.
That's all.
Fair enough, yep.
But you know some of the things that his wife has said too.
Oh, absolutely.
Yeah, his father, his wife, 100%.
The people he associates with, the son Piker, the whole lot.
100%.
Absolutely.
He did the other day handing the pen to the lawyer,
you know, who defends, you know, Al-Qaeda?
Yes.
Oh, absolutely.
He has no business being there.
He will be there.
If he doesn't show up, I will be shocked.
He's going to be there.
And what should happen is everybody should simply turn
their back and not turn around until he leaves.
And bow him.
I don't want to do that.
I don't, I don't, I believe me.
I hear people saying they should do that.
They're not doing that on those grounds.
That's not happening.
It's not going to turn into a circus.
It's not going to turn into something real.
And it shouldn't.
You turn around.
You don't face him.
You turn your back on him.
And that's what you do.
That's what I would do.
But we'll see.
We'll see how the families want to handle it.
It's up to them.
All right.
Guys, please quote post, repost for stock mom and this space
as we get started on this already Wednesday.
Sir, to chew bubble gum and kick ass.
And I'm all out of bubble.
This space street means wall street with three voices.
Lads all back down.
And he's dropped it raw.
Stock mom raised the market like a rowdy truck to the noise.
Well, guys, you got to start over.
It's awful.
Sorry.
Got to start over.
It's unbearable.
Can't listen to it.
Black spectrum.
All right, give me a second.
It was on white spectrum.
I don't know what happened.
All right.
Just hit the speaker a little bit.
We'll start again.
I'm going to like Fonsey.
Ready?
I'm going to smack.
Hit the jukebox.
Let's go.
Work.
I have come here to chew bubble gum and kick ass.
And I'm all out of bubble.
This is my history.
It's the name.
Movement.
It moves a certain distance.
Then it stops.
You see?
A revolution gets its name by always coming back around in your face.
You tried to kill me.
You son of a bitch.
So welcome to the revolution.
All right.
And guys, the reason why I did that about Mamdani.
Listen, there's plenty to despise about Mamdani without having to take something and twisting
it.
And we can't stand when they do it to President Trump.
And they do it all the time and we go after them for it.
So I don't want to be a part of it.
And we shouldn't.
All right.
It's being clipped and taken completely out of context.
And like I said, we don't need to do it.
There's plenty on Mamdani.
We don't need to take a statement out of context to use it to bash him.
Because he's got plenty there without us doing the same thing that they do to us and the
President Trump.
Go ahead, Stockman.
All right.
All right.
All right.
So first, I want to address what Scott percent is doing with the Treasury by-backs.
The long dated Treasury by-backs and financing it with short term, with short term treasuries.
So because I think there's some misconception.
People like, oh, we'll get treasuries one up today.
Well, first it's going to take a while.
OK.
One by-back is not going to move the needle much.
So let me explain to you in simple terms what he's trying to do.
So he wants to slow or cap the rise in long term borrowing costs without pretending that
he can set the price of bonds forever.
So our long term yields have jumped because of our deficits, right?
Inflation fears, especially oil, and lots of new debt.
So higher long yields make mortgages, car loans, and business borrowing more expensive.
When I say long yields, I'm talking about the 10 year, the 20, the 30 year Treasury,
which we are seeing.
We saw the 10 year take up higher than it's been since 2023.
And the 30 year higher than it's been since 2007, which is, you know, the bond market
is spooked right now.
So Treasury is buying some of these older long bonds.
So there's less of that paper sitting around and it can support prices and then yields
can come down.
Number bonds have an opposite, there's an opposite relationship when nobody wants yields.
They have bonds.
They have to offer higher yields to attract people to buy our debt.
People don't want to buy our debt because they're free.
The inflation is eroding the US dollar rate now.
So why do they want to buy US debt?
So they will buy it if they get paid more.
So that's why the bond yields have been higher.
So best and a said that he can't change the equilibrium price of the Treasury's, but
he can try to slow things down and stop a one way panic narrative.
So he's also saying that the program helps liquidity holders of these old bonds sell
them to the Treasury and then they roll them into new bonds.
It's, listen guys, it's a modest technical tool, plus a signaling tool, but it's not a
magic one.
And mortgage rates, especially 30 year fix, track the 10 year Treasury yield more than the
Fed short term rate because I know everyone's like, oh, Fed's going to cut mortgage,
was going to cut the, cut rates and my mortgage rates are going to come down.
That's not, that's not exactly how it happens.
So if these buybacks and then future larger ones succeed in keeping long yields lower,
then the otherwise would be mortgage rates could actually ease and stop rising as fast.
Cheaper long term borrowing will help home buyers, businesses that are doing long term investments.
And the government's own interest bill itself.
We have to refinance $9 trillion worth of debt this year.
We want to refinance it lower.
And it'll support growth and affordability.
So $6 billion today is not going to move the needle much by itself.
Last month, the first announcement briefly lowered yields because it was a little bit of,
a sigh of relief.
But then moved in the reverse just like today.
Today, the 10 year was up to I think 4.83%.
So again, this is just one modest buyback.
What we really need is we really do need this conflict to get wrapped up.
We need oil prices to come down.
We saw that we made out.