As our military engages in brave interdiction on the high seas off the coast of Venezuela.

Plus, the University of Michigan needs a new football coach because yesterday their head man started wielding a knife at his paramore.

We've got reaction and analysis.

Plus theft of government money by government workers goes far beyond Minnesota.

We've got a story from la that is peak Newsome era corruption.

And bobcat hunting season has just been stopped early in Indiana.

Is this a win for the feeline or a disruption of nature?

It's all next to the Matt Gates Show.

Let's do this shaking up Washington, d C.

We're breaking the fever.

Do you haven't watch this guy on television.

It's like a machine.

He's great.

Matt Gates.

As we join you this evening.

It's been a busy week in Congress.

The body passed the National Defense Authorization Act.

It lays out nine hundred billion dollars for national defense.

Congressman Jimmy Pittronis represents one of the most military heavy in the country.

He'll be here in moments to break down the legislation.

And on the high seas, we are seeing great execution by our military, the FBI, Department of Homeland Security, Coast Guard, and other federal agencies.

A major oil tanker carrying Venezuelan oil to Iran was intercepted.

Incredible, incredible work.

This is tough stuff and we are glad that they are patriotic Americans willing to do it.

And as the year winds down, all focus is on an affordability agenda for the country.

My strong belief is that whichever political party can convince the country that their plans will make life more affordable will win the all important midterm elections.

Let's check the scoreboard.

Gasoline prices just fell to levels not seen in four years, with the national average reported around two dollars and ninety eight cents per gallon.

That's a real relief for a lot of rural and blue collar Americans.

They drive a lot to get to work, to get to groceries.

Inflation has declined from its post pandemic peak.

Month of or month inflation readings have shown consistent moderation, signaling stabilizing household costs.

As inflation cooled, real wages strengthened When inflation falls faster than wages grow households experience more purchasing power, allowing paychecks to go further than they did during these peak inflation days.

While housing affordability remains a national challenge, rent growth has slowed significantly.

Trump's deportation agenda could really ease housing prices.

That was a point made by senior DHS official Micah Bach on our program this week.

In high in high urban development areas that have seen an increase in rent prices due to illegal immigration, you've seen those housing prices plummets.

New multi family construction delivered hundreds of thousands of units nationwide that increased supply and may have been part of why rent increases were tempered in major cities.

Grocery inflation hit its forty year highs during the Biden era in twenty twenty two.

Prices for key staples like eggs, poultry, dairy, and produce stabilized or fell during twenty twenty five.

That reverses those earlier surges.

US manufacturing output has risen compared to the pre pandemic arolos.

Increased factory activity and reshoring trends have supported higher paying domestic jobs, improving income stability for a lot of working American families.

The stock market has also surged, hitting multiple record highs under Trump, and over half of American households hold retirement accounts that are somehow tied to market performance.

This is creating long term financial security.

Life has grown more affordable during Trump's second term because inflation has come down, real wages have improved, and gas and food prices have seen the growth of those indexes slowed.

Housing pressures have eased in many markets.

Combined with strong job markets and rising household wealth, these conditions contribute to greater economic breathing room for American families.

Communicating this message and having these improving economic conditions felt by everyday Americans, this is the key for Republicans to hold power.

Joining us now Florida Congressman Jimmy petronis, Jimmy, great.

To see you.

The NDAA just passed.

What should Americans expect with this big authorization?

So Matt, thank you for having me and thank you for your service.

We're going to see pay raises for our armed services three point eight percent, and you know we're going to start making sure the infrastructure dollars are getting out there to make sure our nation's best have the type of facilities they need in order to do their job.

One of the provisions in the bill that I was proud to get in, we actually had during the Biden administration a priority to ensure that all new vehicles purchased by the military had.

To be evs, which is crazy.

So we basically stripped that provision out, saying, you know, you didn't have to force our military to buy evs for their vehicles on the installation to do their day to day operation of work.

Secretary Hegseth has had a lot of cultural changes at the Pentagon.

We hope that those were also ensconced in law in the NDAA.

And there were a few hot button issues like IVF for military families and whether Representatives Stephonic would get these anti government weaponizations provisions in.

It seemed like that all was able to shake out.

Just fine, what's your report on some of those hot button issues.

Oh yeah, we brought it all in for a landing, and look at you know this process better than anybody else.

I know.

We've got a number of members of Congress that are looking to seek office in other areas for their future, whether it be running for statewide in the case of Elie she's running for governor and some of these things become real important take.

Home issues for them.

So Mike Johnson thinks the World of you spends a lot of time doing a lot of handholding and making these policies be part of a few sure solution as we continue to make sure our military gets what they deserve.

Our military showed exceptional skill on the high seas just south of Florida as the Venezuelan vessel that was headed to Iran was apprehended.

Is Congress being briefed on the plan here?

What's your reaction to that highly successful maneuver?

So I was just talking to some folks in my office about exactly that.

The one element of this conversation that's not being talked about.

You think of the thousands and thousands of labor of police man hours that now are not being out fighting drug dealers, doing covert surveillance, stakeouts, undercover operations, putting law enforcement life.

And Matt, I've always been a big believer.

I don't like fixing problems.

I like preventing problems.

And this is exactly what President Trump is doing.

He is preventing these problems from ever making it to us short, no different why the wall has been so important to him and his legacy.

With the oil tanker.

I was talking to Mario Diaz Blard, a South Board a member of Congress earlier day about this oil tanker has been notorious for hiding its track, its pattern, doing ghost images, shipping this illegal oil out of a sanction.

I've Runezuela into Iraq.

So yeah, look, I think what.

President Trump did was warranted, and I continued to wish him success and look in Pete, he Accept's leadership on this.

I want to talk about the vote in the Senate today, disappointing that they were not able to proceed on to the legislation that Senator Cassidy and others had advanced to do what President Trump is called for and utilized the Obamacare COVID subsidies for enhancements and health savings accounts.

What's your reaction to the Senate's vote and where does that leave the Congress when dealing with these extensions and what to do with the funds.

Well, unfortunately, the Senate is kind of broken, and it's kind of broken.

It actually is broken when you look at we're trying to bring a solution to bear that empowers the policy holder to shop with their tax dollars in order to get the best medical home possible.

We're trying to take an Obamacare crisis and be able to train and bring some market based solutions to place where those policy holders then can go shop and take their dollars where they get the best bang for their butt.

Rick Scott has always been a proponent for transparency in the medical delivery system.

This is where Senator Cassidy's coming from.

But it's unfortunate that the insurance companies, the PBMs, these players were trying to take a part who the problems are with this and this is probably more of a shakeup than they're expecting, and that's why they would just simply like a two year extension of these subsidies that unfortunately is just kicking the key down the road for.

Two more years.

Yeah, we had an opera ortunity for a Republican plan to advance again.

Rick Scott's got a long history of innovating in this healthcare efficiency space.

And when you see now that not occur, is the only thing left to be a discharge petition in the House where Democrats team up with Congressman Lawler and maybe some others in the New York delegation to roll the majority of Republicans and get these Obamacare extensions.

Well, and the discharge position is not the way you graft policy in this process.

It's painful, it's challenging, but here we are.

We have got a barely a five seat majority, and when you've got so many members of Congress to have other priorities for themselves, ultimately it makes it hard to bring these emperor landing us that you know, Mike Johnson as well as anybody used to be seat mates.

He is working around the clock within credit patients to try to bring the reality of some common sense, true conservative policy to the forefront.

So I truly hope that the discharge position route is not what we see, because you know, we definitely have those blue state Republicans that are just having a lot of difficulties supporting the policy that we need to pass.

A final question for you, Congressman, I got to know you as a restaurant owner, someone who regularly dealt with a lot of Americans who were blue collar service industry live in paycheck to paycheck, and I think that the upcoming midterms will be decided by who best answers the question, what will you do to make life more affordable?

How do you think Republicans are going to answer that question to the people who I know you care so much for and spent most of your life working right alongside.

Well, Matt, I've served you many a stuff flounder at my family's restaurant, and you know, I think that's what was so important to President Trump to get the one big, beautiful bill passed as quickly.

As we could.

As as you know, it does not take.

It doesn't happen overnight.

It's going to take six months, a year, eight months, or the type of savings, the tax savings actually make it down and affect somebody's pocketbook.

So whether it be the no tax on tips, the no tax on overtime, eighty five percent of our seniors not paying any income tax on Social Security, these things will not become a reality where they feel it overnight.

So you know, I'm looking forward.

As that trickling effect starts to make it in and that pocketbook starts to feel a little more filled because of President Trump's leadership.

Florida Congressman Jimmy Patrona's congratulations on the NDAA passing and thanks.

For joining us.

Say hey to Lewis for me will too.

And coming up, there is really a strange story coming out of Michigan where the former head coach of the Michigan football team was wielding a knife at his paramore.

We've got reaction to that story and I guess some understanding of what comes next next.

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The wildest sports news story in America right now is coming out of the state of Michigan.

The head coach of the Michigan.

Wolverines, Sharon Moore, has been fired not because he lost games, not because he broke NCAA rules, though he did do that in the past.

In a sign stealing scandal.

Now, Sharon Moore was fired for cause because this married father of three was having an affair with a staff member.

This is fairly clear that coach Moore had a type, but the affair didn't go well.

They rarely do.

He was having a fight with his wife yesterday, presumably about the affair, but we don't know.

Then he drove over to his girlfriend's house, broke into her dwelling, held out a knife to his own throat, insisted that he would kill himself and his staff for a lover.

It is unclear what his demands were, but she is asserting that she's the victim of his stalking.

Later the same afternoon, police responded to the alleged assault incident.

He was arrested and booked at the Washington Awk County Jail Facility.

Moore was the first black head coach at Michigan.

He was the interim head coach while Jim Harball was suspended during the National championship run of the Wolverines.

In an earlier year.

He coached tight ends and the offensive line.

Coach.

Moore was making six million dollars a year and gave it all up because there was something he apparently wanted more.

He must have wanted it more than the salary, more than the prestige of being the head coach at the University of Michigan, more than the chance to win a national championship.

So how is the Wolverine State responding to their coach going full knife wielding adulterer?

Joining us now?

Independent journalist James David Dixon.

He's the host of the Enjoyer podcast and publishes the history of Michigan politics substack James, how are people in Michigan reacting to this wild store worry about the football coach?

Matt, Thank you so much for having me on.

It's a bit of a split reaction.

I mean, half the Michigan fans are happy because coach Moore has been way underperforming given the resources, given the ten million dollar quarterback he has right now.

But there's also a sadness.

I mean, coach Moore got a once in a lifetime opportunity.

They don't grow blue bloods on trees, they don't grow this kind of job.

It's not easy to get.

But as we just saw, as we learned what Gary Moeller thirty years ago, very easy to lose.

So there's a split feeling about it.

Yeah, talk just a little bit about the role that the Michigan football program plays within the culture, in the zeitgeist of Michigan and how important it is to the identity of the state.

Perfect illustration.

So during the twenty twelve election, right Obama's going up against Mitt Romney.

I believe it was the Ohio State student newspaper they placed an ad that said, Rob he's a Michigan fan.

Now, when they come to town or something for the game, you always, you know, there'd always be some talk.

But when I saw that and I was like, Oh, they're playing for keeps in Ohio.

And then you come to study the history of it.

The reason they call us Wolverines and them Buckeyes goes back to the Toledo War.

I mean, we've been at it with each other since before there was even a state, and so it is, it is of huge importance.

A University of Michigan president once said, we could win a Nobel Prize or a championship in football and nobody would care about the Nobel.

That's true.

Yeah, this like story strikes me as just a series of cascading bad decisions.

Right, Like if you get married don't have an affair made that mistake.

If you have an affair, don't have it be with one of your staff members.

Definitely a mistake.

If you're gonna have an affair with a staff member, definitely don't be the head coach of the Michigan football program.

Then if your wife finds out about it, or anybody finds out about it, you definitely don't go over to the staffer's house and break in.

And then if broken in you don't get what you want, you definitely don't pull out a knife and threaten self harm and to hurt the other person.

Like what could have been I guess a human mistake that you might have some compassion or forgiveness for, turns into something where this guy's like totally unhirable.

Now right unhiable and has become a cautionary tale.

At you know, at the beginning of the week, we were arguing what kind of coach he is?

Now we're talking and asking what kind of man is Jeron?

More like, how well did we ever know this man who was the leader of men.

It's bad enough if this was one of the players, but for this to be the head coach is it is a supreme embarrassment.

It's bad for more, it's bad for the program.

He just you hate to see it be Michigan in this position.

Should coaches be making these like, you know, six, eight, ten, thirteen million dollar salaries.

It almost gives them like a god complex when what you're actually talking about is coaching student athletes.

You know, in the nineties, around thirty years from now, Gary Mueller, he was in the city.

I live in Southfield.

He's out at the restaurant with his wife, gets into a little argument, ends up punching a Southfield cop in the chest, loses his job.

So this was before the money exploded to the extent it has.

It just shows that these are basic human problems that you would find even in the Bible, and men have always struggled to keep the main thing the main thing, and put their libido either in the background or just cast it aside and say I have bigger fish to fry.

And here we have another example of a man who could not control himself and stay focused.

Yeah, I think we figured out what his main thing was and it wasn't the thing at home, and that cost him a lot.

John David Dixon, thank you so much for joining us and bringing your insights.

Thank you, Matt.

And coming up, we had to Los Angeles where there is another case of fraud related to public assistance.

Mike Netter will sound off next.

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Public benefits fraud.

We've been covering this extensively in Minnesota, where billions have been stolen and we've even seen that money send from the Land of Lakes to Somali Land.

It got us thinking about how common it must be in jurisdictions that don't watch out for taxpayer money as much as they police your pronouns and your signature block and usually if there's something bad going on in the country.

You can count on California and Los Angeles to be involved in some way.

Two dozen LA County employees, not several street level scammers, but like a lot of folks on the taxpayer payroll, are now facing felony charges for siphoning off seven hundred and forty thousand dollars in pandemic unemployed benefits.

They were fully employed collecting government checks at the exact same time they were telling the state they were jobless.

It is the kind of double dip grift you get when a system grows so bloated and mismanaged under democrats that even its own workers treat it like an open bar.

And let's be clear, these are not just some isolated slip ups.

Prosecutors didn't bring one or two cases.

They delivered indictments in two waves, with more likely coming.

It signals a culture problem, not a coincidence or just random thievery.

California spent years bragging about its nation leading benefit system while quietly hemorrhaging tens of billions of dollars during the pandemic because of fraud.

Now we're finding out some of the people administering the system we're running their own side hustle inside of it.

When government incentives drift away from accountability and toward unchecked spending, fraud doesn't just happen, It flourishes, and it always seems to happen in places where politicians are loudest, when morally self preening about compassion and operating the least competent bureaucracies.

Gavin Newsom is the governor of California.

He loves lecturing the rest of the country on values, but his government can even keep its own employees from defrauding a benefit system that already lost billions to criminals.

California and Minnesota treat public dollars like confetti.

Trump treats taxpayer funds like they belong to the people who earned them.

The LA indictments make something undeniable.

The Blue State model isn't compassionate, efficient.

Or moral.

It's porous, reckless, and ripe for abuse.

And the people paying the price aren't the bureaucrats or the politicians.

It's the taxpayers who foolishly trusted the Democrats.

Here with us now, vice chairman of Rebuild California and host of California Free Radio, our good friend Mike netter So Mike, this La scam, it just seems particularly corrupt to me because the public employees stealing the money.

We're supposed to be administering public funds.

What does it say to you about the culture in Los Angeles County?

Well, that's a great way to put it, because the culture, obviously, as we've seen in the last few weeks, starts at the top and apparently has been working its way up from the bottom, and we're not paying attention to me.

One of the most appalling ones Georgette McKinney, who is Child Services Department, and some of these you might say, Edd, well, it could be an accident, but she used twenty eight false identities.

Matt, let's think about that.

I would say that's pretty intentional, wouldn't you.

Yeah, twenty eight false identities makes you think that this probably should have been caught a lot sooner, like when it was happening.

Do you think that people just thought that there was such a lax oversight that they could get away with anything.

I think they know it, and I mean Sybil would have been jealous of twenty eight false identities.

I couldn't even come up with twenty eight different names to use, so give them an aid for creativity.

It's pretty obvious.

And we've seen this with Dana Williamson with the ro Banta situation with the newsom that not only is the oversight lacks, but the people at the top who are supposed to be making the rules aren't obeying the rules and breaking the rules.

And I would say, when you talk about a culture, I think that's a perfect way to put it.

Corruption is baked into the culture of the government of California, and it's certainly baked into the culture of La County, La City.

We've seen this over and over again.

I guess the only Semigon news is we're number two to Chicago.

But quote Avis, we are trying harder.

I mean, we literally have a councilman current price, and I'd like to say if he names price, please don't steal the puns too easy.

That was taking bags of cash in Las Vegas.

This is something with the movie.

The writers probably went on strike because reality is stealing.

The fiction from us.

The number of people and when you look down here, it is not only people that are supervisors.

It's the landscapers, for goodness sakes, It's the guys working in the maintenance sheds how deep business corruption do we literally need to fire everybody in Los Angeles County and start over.

When we think about what we've seen in Los Angeles County and also what we've seen in Minneapolis with the fraud there, it makes you want to peel back the layers of the onion and a lot of these major metropolitan jurisdictions.

What if we had a nationwide DOGE effort that went into these bloated municipal and state budgets and really ran them through the ring or if they wanted to get their federal draw down.

What effect do you think that would have nationwide if we scaled DOGE and deployed it downstream into the spending systems.

Let me also say, Matt, it's not only DOZE in terms of catching the money, it's in terms of the systematic effect of the people not watching.

I think the biggest classic thing I saw at the beginning of DOZE and President Trump's first term was that literally very few people were where there was.

Like a mind shaft.

I mean that you had to drop your retirement papers into There's systems that are broken.

And I want going back to the LA thing, the LA scandal, if you will eight billion dollars or whatever the billion is in Minnesota and the billions we talk about at California.

It's not as we envision it a lot of times in the public where someone is going and stealing eight billion.

Your point's well taken.

It's got to be a doze typefort because they're taking it two thousand, four thousand, five thousand, and then go up to one hundred thousand.

It's like the people that shoplift and then they start shoplifting more and more, and then they turn to maybe armed robbery, and they just keep up being their game.

We have to especially in Los Angeles, which is about a billion dollars in the red, and you have to wonder how did we get there?

And you have to wonder, how are all these people not supervised?

Then you look at it and go, it's the supervisors themselves.

Obviously, the government of Los Angeles and throughout apparently much of the state government throughout our great nation should not be unsupervised because we could see it just ends badly.

I wonder to what extent this is a crossover issue for voters.

I mean, you're involved in this effort rebuild California to showcase that it is possible to do better.

People don't just have to DeCamp from the Golden State, and there's a coalition for effectiveness that can be built that isn't ideologically driven, that isn't centered around MAGA or what we think about as our traditional political dogmas.

How do you take these things, just like the fraud being stolen from not having disaster response and getting people who might never have voted Republican before to think about better choices in their government officials.

I think exactly what you said, We engage them.

Look, the biggest party in California isn't the Democrats, it's the party of apathy.

It's not only getting them to vote Republican, it's getting them to vote period and showing how like the fraud we're talking about today, affects their everyday lives.

The think part of the problem mat is we've lost track of what a billion dollars is.

There's a lot of money, boys and girls, and when you start talking a couple hundred thousand, and you start to say what kind of services would that provide you?

And what Trump did selles kind of apply it to the kitchen table issues and that's what we're trying to do in rebuild California is simpler by this.

EDD fraud is a pretty basic fraud.

You have a job, you shouldn't be taking unemployment.

Wouldn't you like to have three thousand dollars extra this month that maybe you would deserve, but the government's out of money.

Boiling it down to Pacific Palisades.

A great example with Los Angeles City government.

Just this last week they put a hold on deciding whether or not they would wave the permit fees for people who homes burned because they didn't.

Know if they could afford it.

I'm gonna bet make a big bet right now that if you interviewed those people in Pacific Palisades and said, hey, you know why they can't wave your one hundred thousand dollars permit fee is because Sally has it over here.

And I think we have to boil these issues down to things that frankly hit them part of everyday life, the gas tax, the things that they talk about.

But this corruption what I what they like about this corruption is not a good way to put it.

But the corruption story.

To hear, it's basic things that people could do.

EDD fraud, but most of us choose not to do not because we're even afraid that we're going to get caught.

We know it's morally wrong, and I think whether your Republican or Democrat people, most of us moral compasses in the right place.

We don't even think of doing these things.

And I think we need to.

At Rebuild California, what we're doing is with initiatives and sign here, give you an action item for something that you can do about it, because the people can do something about it.

The reality is the government doesn't want them to know it because they're too busy stealing our money.

Hey, with Santa Claus isn't coming down the Chimney's going up the chimney apparently taking our money.

And we have to make people aware of things they can do, including going around things like That's why I love when American news, mainstream press barely reports this, and when they do the report it like it's a long way away.

And so what we do at Rebuild and on California Free Radio, we want to bring these issues right.

Home to how they affect them.

And again, most people aren't crooks.

Most people don't steal from the system, don't even use the system, and We're trying to show them how the theft from the system, how the corruption which is now turned to desperation, affects their everyday life.

And their paycheck, and how far that purchasing power goes.

I mean, we're going to spend a lot of time on the program tonight talking about these issues of affordability, and what I think political leaders need to do is connect the failures in the oversight and the high costs and the thievery to why stuff is more expensive to the inflation and certainly when it comes to services in California, it's a high indexed cost in your taxes relative to what you're getting back.

Folks don't have to live this way.

I will give you the last word on that.

Yeah, I want to make one more point here.

I think that people don't realize that this edd fraud is coming out of their paycheck.

And I think another way to put it for the average person, whether you work in a hotel or you do my lawn or whatever, and say, hey, do you realize you're pain an extra ten bucks a week, which still gets a burrito at a clabella.

I believe just one to pay the government to steal from you and I think if they would say, why would I be paying forty dollars a month?

The reality is you're now paying for the government to steal from you.

Matt, thanks for having me on follow me, Enter Mike on Twitter, rebuild California.

Thank you, my friend.

Appreciate you.

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That is an interesting little cycle that we will examine with economist Peter Saint One next.

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Today, the Fed decided to cut interest rates again, dropping the key rate by a quarter point.

That's the third time they've done this this year.

Lower rates basically make it cheaper for people and businesses to borrow.

We want to see lower costs for things like credit cards and car loans and business expansion.

President Trump reacted strongly.

He's been saying for months that the Fed should be cutting rates faster and harder to help main street to keep jobs strong and to let the American people keep more of the money that they earn working for them.

He said the FED didn't go far enough this time and wants an even bigger cut.

We should be able to do a lot better than three and four wish scheduled to be at four percent, which is pretty amazing because we have a deadhead FED FED hair and this guy, the head of the Federal Reserve is a stuff.

He did a rather i would say, a rather small number that could have been doubled, at least doubled.

We have to get a mindset that when a country is doing well, you don't want to.

Kill the growth.

On top of the rate cut, the FED also announced it's going to start buying short term treasury bills basically government IOUs in large amounts over the next few months.

People call this similar to quantitative easing.

The technical point here is the FED is trying to make sure there's enough cash flowing through the financial system so markets don't freeze up or get unstable.

It's a way to keep the plumbing of the economy working, but there are downfalls, and this decision is being made as President Trump is likely to decide that his next FED chair could be Kevin Hassett, certainly somebody who's been around the President Trump and understands his economic goals joining us now economist and publisher of profsatange dot com Peter saint One.

So, Professor, your reaction to this rate cut is any boost for the economy already baked in or our condition is going to get better as a consequence of what we saw today.

I think it's in that boost for the economy.

What has been baked in is rate cuts, And I think what's been surprising over the past couple of weeks is that the Fed has very quickly flipped over to quantitative easing that I don't think was priced in.

So quantitative tightening, which they've been doing for a couple of years now, which means selling off all of the stuff they bought during COVID and essentially canceling the dollars.

They'd been doing that since Biden.

Just a couple of weeks ago they announced that they were going to be ending that as of December first, and now here we are, what ten days later, Now they're flipping to QE, meaning that now the Fed is actually going to be going out and buying assets in the open market, specifically the US Treasury bonds, and it's going to be printing dollars to do that.

So I think that the liquidity injections markets didn't expect anything like this.

I think the debate back and forth had been whether rate cuts were going to come sooner or later.

QE is like a concentrated form of rate cuts.

That's much more money flowing the economy.

It's potentially inflationary down the line, and as we can see in the markets, it's been rocket fuel for pretty much anything, gold, silver stocks, AI, across the or.

I think there are a lot of people who would say, gosh, the federal government now is printing money to buy its own debt, and they're doing that at I think, you know, a faster rate than ever before in America's history.

What kind of danger does it create for an economy that prints money to buy its own debt.

Yeah, it's a problem, you know, if you zoom out.

This was Weimar Germany.

They got into a situation where they couldn't raise taxes.

It was a lot easier to print the money, and off they went.

So it's a pretty big problem.

Japan's been facing this for about thirty five years, now, so something like half of Japanese government bonds are owned by the central bank over there.

And now Japan has.

Not had inflation because they've got this zombie economy where they keep dumping money into businesses to keep them alive, so they haven't seen inflation.

But in our economy, which is not like that, our economy you know currently where four percent GDP, which is pretty close to Asia levels of growth.

Our economy is going gangbusters.

And so that's the concern, is that printing money to buy federal debt in this kind of economy could go straight into inflation.

And of course that's the big issue, right we keep having these these by elections.

What just in Miami we actually had a Democrat win there for the first time I think twenty years.

And the issue across all of these elections where Republicans keep getting their butts handed to them is the affordability crisis.

The federal reserve jumping in and buying federal debt with freshly printed dollars is not going to help that.

And I just wonder what the limiting principle is, like this is an outgrowth of poor government budgeting when you don't have a balanced budget when you have no no forcing function downward on the debt.

I mean, the big win Republicans gave us was Joe Biden's spending level.

That was the one big, beautiful, beautiful bill.

And so Republicans spent an entire election saying Joe Biden's spending levels are causing the inflation and the high prices that you're feeling.

And we kept those same spending levels, and now to service the debt, we're printing more money to buy our own debt.

It's very possible that one of President Trump's top economic advisors, Kevin Haslett, will be the next FED chair.

What impact do you think that'll have on the market.

Yeah, his reputation is a relatively easy money guy, meaning more money printing.

And you're absolutely right.

You know, we just had the dream team here, right.

We had Doge.

Republican voters were very excited about the whole Doge thing, actually cutting federal government.

You were there for and I was.

People were hyped.

We had unified a Republican control.

We had Donald Trump who every single budget in his first term, he tried to make big cuts every time the Rhinos said no.

So we had the perfect storm.

Every duck lined up, and what did we get for it?

Right?

We get what like little six billion dollar recisions.

It's an absolute joke.

So the concern at this point that bond investors are asking is is there any predator, like, you know, is there any controlling group in Washington who's actually against spending?

Because if you just had everything line up.

Perfectly, we pulled, you know, got.

Three sevens in a row, and we got absolutely no spending cuts for it, then that suggests that that.

It's just going to keep running.

And now that you've got the FED jumping in, essentially what they're putting about half a trillion a year now is what they're announcing, and they're claiming that it's not quantitative easy, that it won't be inflationary.

They say that it's just to kind of grease the skids in Wall Street.

But that then raises a separate question, which is, well, wait a minute.

Like is Wall Street that bad?

You know, like the FED didn't have to do that before two thousand and eight.

Now the Fed seems to think that, you know, it's just perfectly normal that yeah, we'll have to dump a half trillion into the financial markets to keep them running, Like what's flying this plane.

So you put all that together and I think that absolutely, at some point the bond vigilantes, where's the market, the people who are actually buying all this government debt, are going to start getting concerned.

We've seen that just in the past couple of years in Japan and in Britain.

They both had big blow ups where the bond markets could not digest the amount of debt coming out.

Here in the US, we've got nine trillion dollars of federal debt to finance over the coming year.

You know, that's the concern, is that something blows up and at that point we end the FED not because you know, we did it in a sort of a careful way, but the market ends it for.

US profitsinoge dot com is the website.

Thank you for the analysis.

It's terrifying and insightful all at the same time.

Appreciate your stopping by.

Thank you, Matt.

And coming up, there's a big debate over how many bobcats to capture and kill in the state of Indiana.

We've got an animal rights activist and a bobcat hunter with us next to discuss.

You won't want to miss this.

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Ever, how many bobcats should be trapped in the state of Indiana.

It's actually a big dispute right now, and we're about to debate it.

Trappers say there are enough to have an extended hunt.

Wildlife advocates disagree and say the last bobcat hunt in Indiana, which was just cut off after two hundred and fifty bobcats were captured, has some challenges, but the fact is so many cats were captured so quickly, it may indicate the state has a healthy population and a hunt won't disrupt the wild population.

Just take a look at this map.

It kind of seems like there are bobcats everywhere in Indiana.

We have bobcats in Florida.

I don't mess with them because they are mean and ferocious.

The Indian Apartment of Natural Resources is reviewing the data and expected to release its findings soon.

Joining us now Animal Wellness Action President Wayne Piselli, and animal trapping expert and owner of Who's Your Trapper Supply, Charlie Mashik.

So, Charlie, what should my viewers know about the bobcat hunt in Indiana?

We just closed our first season, and the season actually started on November eight.

It was due to close on January thirty, first or until the quota had been met.

The quota was.

Met within five weeks of the season, hoping, you know, we would call that quite a successful season.

Definitely feel like we have a sustainable number.

Of bobcats to support a season with a.

Really a relatively conservative quota in place for our first year.

So pretty happy about it, pretty excited about it quite frankly.

And Wayne, what's your perspective on the speed with which this quota was met?

Does that suggest a healthy population or just that the technology has gotten so good that people are able to capture a lot of bobcats very quickly.

You know, Matt, it's not clear, but I will tell you that it's a sad moment for us to think of these two hundred and fifty bobcats caught with steel geoltical traps or other body gripping devices.

These animals don't need to be controlled.

They're a predator spece.

They limit their numbers.

The reason that people are out to kill them is that bobcat pelts have the highest value of all fergering species in the United States.

These are cats who are needed in our ecosystems.

They're helpful.

They don't need to be trapped.

They haven't been trapped in Indiana for a very long time.

They're protected in national parks and wildlife refuges.

Steeled jaw traps are cruel and indiscriminate.

Animals suffer greatly.

They're killed during cold weather months, the body parts can freeze, they can catch other species and all for what so we can adorn the Chinese with bobcat coats.

Hold on, Charlie, is that the reason that the hunt happens for the pelts or is there some sort of protection element?

And maybe you could talk to us a little bit about the economic impact of the bobcat hunt.

So, I mean, it is true that some bobcats in some parts of the country are valuable.

The ones in Indiana don't really have much of an economic value in terms of the pelts themselves, probably in the thirty to fifty dollars range, so that you know, that's certainly not the driving force behind this.

I think Indiana originally started studying the bobcat population back in the nineties.

This was not something that was reintroduced by the state.

They've migrated in from other states, which shows that the populations and other states were adequate that or to the point where the bobcats could continue to expand their range.

And they've been here, you know, they were first collared in the nineties and they've been monitoring ever since.

Our Department National Resources in Indiana has biologists in place to take a look at the population levels and to establish this season.

Yeah, and Wayne, what do you look at to see whether or not it's a healthy population, because I'm trying to assess whether or not.

Gosh, the fact that these animals were caught so quickly, it might mean that there might need to be some sort of thinning of the population is there are there metrics regarding you know, the size of their litters or anything like that that is traditionally tracked.

I mean, listen, the state has no idea how many bobcats there are.

The states simply don't have money for censusing of these very kind of low density species.

The point is not that they need to be hunted or trapped.

They do not.

These are predator species.

They regulate their numbers.

Who talk to any serious minded wildlife biologists or ecologists, they'll tell you they don't need to be controlled.

And while the pelts may not be as valuable in Indiana as in some other parts of the country, they're still valuable.

That's the reason that people are out to do this.

I would say that anyone who also just wants to kill these animals for sport not really much of a sport.

To leave out a trap, It's kind of like leaving out a landmine for an animal.

What kind of sport is that?

We have norms in our society.

You know, we don't like dog fighting, we don't like conk fighting.

I don't want to use animals just purely for the sport, especially when there's no practical utilization, No one is eating a cat.

They're selling the pelt and commerce, and that violates one of the norms of the North American wildlife management model, which is you don't trade in the parts of the animals.

If you shoot a deer, you can consume the deer, you can personally mount the trophy, but you're not supposed to sell the parts of the deer.

This is a relic commercial trapping.

It's also inhumane because the traps are so they're so cruel and indiscriminated.

Charlie, what is the motivation of the people who come into your store and buy these things, and what would be a response to the manner in which an animal is trapped and dispatched.

So I start off with the equipment.

The equipment has actually come a long.

Ways over the years, and we've got off side jaw traps, We've got UH brand, we have the laminated jaws, and we've got shock springs in place where trapping itself in this in indiana's regulated heavily.

We're on a twenty four hour check.

Most traps are checked first thing in the morning, So you know, I think a lot of the traps have met the the MP standards, which are best management management.

Practices, So.

Our equipment is the best available as far as it's it's difficult to explain to someone that doesn't take part in the outdoors.

You know why people enjoy this.

It's part of our heritage.

It's something that we've we've grown up with and uh, you know, it's it's something that the you know, people that in the rural areas take part in.

And I, you know, I kind of take offense to the being called this cruel activity.

Yeah, well, what what.

Do you think the motivation other than just other than just standard practice and that they've done it before.

It is of the people are people mounting these bobcats?

They're they're not eating them?

So what are they?

What do they do with them?

So, actually, some some people do actually eat bobcats.

So do you know people who eat bobcat?

Charlie?

Yeah, yeah, really, how do how do they cook bobcat?

So?

I think they sure can generally cook.

It's it's a slow cook, like in a crock pot, that type of thing.

So I've never heard of this.

Yeah, people with that kind of appetite.

Well, I don't want to disparage anyone, but I do want to understand but you say some people eat them.

What about the.

Generally the scans are being tanned and people are keeping them.

Some are being mounted, uh for taxing near me, I quite frankly think out of the two and fifty that are caught here in Indiana are the majority and will not be sold.

Uh.

Certainly on the first one that somebody can catch, they can only keep one.

So it's not like, you know, you can go out and catch tan and or thirty bucks a piece and you got three hundred dollars.

That is definitely not the driving force for these guys to go out and do this.

It's a challenge.

It's a challenge.

Never Yeah, wait, I'll give you the last word to go right ahead.

Yeah.

I've never heard of a commercial trapping program in any state for any species where the state was limiting the commerce.

It's not like people are selling one number one.

I mean they shouldn't be killing five or ten or twenty.

I mean, we don't do that.

If you're participating in deer hunting, you shoot typically one deer year.

It's for personal utilization.

This is commerce.

It may not be as valuable as it was, but the reason is not as value is because people don't want to wear fur because there are alternatives where you don't have to sacrifice or harm or kill an animal.

This has no yeah, but what I think we're hearing is that there are multiple different inspirations for this activity, and we'll see which way the state of Indiana goes.

Wayne Piselli and Charlie Meyshak, thank you both so much for coming on the program and sharing your perspective.

Thank you, thank you.

That's all the time we have.

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Let's go get them