PBD Podcast
White House COVID Bombshell & Nancy Mace's Daisy Dukes Fight | PBD Podcast | Ep. 579
Tue, 22 Apr 2025
Patrick Bet-David, Tom Ellsworth, Vincent Oshana, and Adam Sosnick dive into JP Morgan’s explosive take on the U.S.-China trade war showdown, Nancy Mace’s fiery clash with a guy wearing daisy dukes, JD Vance’s jaw-dropping meeting with Modi in India, and Gavin Newsom squirming under scorching heat for LA’s chaotic 2028 Olympics prep.------🥤THE VT YETI COLLECTION: https://bit.ly/4iHfe8Q👕 THE LATEST VT MERCH: https://bit.ly/3BZbD6l📕 PBD'S BOOK "THE ACADEMY": https://bit.ly/41rtEV4📰 VTNEWS.AI: https://bit.ly/3OExClZ🎙️ FOLLOW THE PODCAST ON SPOTIFY: https://bit.ly/4g57zR2🎙️ FOLLOW THE PODCAST ON ITUNES: https://bit.ly/4g1bXAh🎙️ FOLLOW THE PODCAST ON ALL PLATFORMS: https://bit.ly/4eXQl6A📱 CONNECT ON MINNECT: https://bit.ly/4ikyEkC👔 BET-DAVID CONSULTING: https://bit.ly/3ZjWhB7🎓 VALUETAINMENT UNIVERSITY: https://bit.ly/3BfA5Qw📺 JOIN THE CHANNEL: https://bit.ly/4g5C6Or💬 TEXT US: Text “PODCAST” to 310-340-1132 to get the latest updates in real-time!ABOUT US:Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.
Chapter 1: What are JPMorgan Chase's predictions on Trump's trade war and tariffs?
And we think it's going to land 10 to 20 percent tax on certain goods, which is what we said before Liberation Day. And I think they missed the headlines. I think that's what J.P. Morgan is. That's exactly what they're saying here. And oh, by the way, call J.P. Morgan because we can help you buy some of these things. Operators are standing by.
Adam, I guess, you know, for those of us that support Trump, you know, many of us in this room, including myself who voted for Trump. At what point are we going to sound the alarm and say. I don't know. Is this actually working out? I think we all understand the need for tariffs. I think we all understand the need for taking on China.
I think we all understand the need for not kicking the can down the road. But at the same time, when are we going to say, is this actually working? I think it's totally fair to ask questions. You know, this is the Tom and I were talking about this earlier, the number one story in The Wall Street Journal. was the following.
The Dow is now headed for the worst April in 100 years as investors send a no-confidence signal to the market. Now, we all said brace for impact. We kind of have to have a short term, take a couple steps back in order to take 10 steps forward. But the market is getting a little fearful. You know, as Warren Buffett always says, be fearful when people are greedy, be greedy when people are fearful.
I'm still investing in the market. I'll always bet on America. But if you go to the Fear Greed Index, which we tend to take a look at on this show, right now, people are in extreme fear. So, you know, I don't want to be... This is not a joke, but on Liberation Day, April 2nd, the only thing that's been liberated so far is trillions of dollars of wealth from the U.S. stock market.
And I don't want that, nor does anybody want that. But since then, since it's potentially the worst April in almost 100 years... The Dow is down. Stocks are down. The S&P is down. The dollar is down. U.S. treasuries and bonds are down. Consumer sentiment is down. Gold is up because that's obviously a store of value. The VIX is up because that's volatility index.
And the fear and greed index is very fearful. So at what point do we say, look, Trump, we're rooting for you, bro.
But hopefully this thing turns around very quickly. It's three months to... And I get it, Adam. Trust me. I'm with you 100%. But isn't this something that we have to go through as a nation because of how horrible everything... $37 trillion in debt.
Nobody respects it. I'm going to answer this, and then I'm going to let you do your thing. The debt is obviously one thing, but the tariffs are a totally other thing. I understand what Doja's doing. But if Trump, who is very mindful of his legacy and how... Things are talked about in the news, even if he doesn't trust the mainstream media.
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Chapter 2: How is the US-China trade war affecting manufacturing and global supply chains?
Yeah, the volatility of words that go back and forth that causes the market to get a little concerned. And then, you know, people are making research. And Wall Street Journal today, as Adam pointed out, saying, hey, this could be the worst April since the Great Depression. That's a fair headline based on historical facts. But those words make the market nervous because...
But trade deals are things that now go the other way and will calm the market. But we need more days like this morning.
Well, it's very hard to compete with China just because they cheat. You know, China is the world's warehouse that makes everything. And we've been shipping away manufacturing jobs for a few decades now. You know, how many times do you look at any good you buy and it says made in China, made in China, made in China?
You even see videos of like people trying to call Trump out for things in Trump MAGA world that are made in China. I don't know what the validity of that, but. They're like this factory of a billion-plus people that just never sleeps.
And it's very hard for smaller countries or even America to compete with these people when you have low costs, they're cutting out competitors, undercutting competition. The CCP is heavily subsidizing many of these industries, just like Trump did with some of the farmers in some industries here. They pay low wages. They have zero environmental regulation. They have low standards for the workplace.
They don't give a shit if kids are working and chopping off fingers. They don't care. They don't care about their people. All they care about is keeping the CCP in power, which leads me to the final point. We covered this on the town hall, the live podcast we did the other day, where you have Xi right now, where China was alienated just a short six, 12 months ago.
Now she's going on, what do they call it, like this charm offensive? Going around the world. Hello, good to see you. Vinny said he wouldn't eat Chinese food for the next six to 12 months. I haven't, and I'm not. Exactly. So the guy on... whatever it was, like one of their foreign ministers, whatever it was, talking about calling us peasants. So China was alienated.
Now they're sort of back in the fold. They're kind of playing with a little house money right now. The bottom line is it's going to be very hard to decouple from China. It's not like we're just going to cut off all our manufacturing. We have very cheap labor and cheap goods that came from China. I don't think these jobs are necessarily coming back to America.
So Trump needs to navigate this relationship.
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Chapter 3: What progress has been made in the US-India trade deal negotiations with Modi?
So in addition to their own rare earth and to have their rare earth, they're trying to – China's trying to play the Monopoly game and get all the yellows because a set of yellows is rare earth minerals, which means they control any technology economies because they control that supply. That's what's going on. And Greenland, you know, would be a big help.
And haven't heard words about Greenland recently because we've been trying to get that deal done. So I think Zelensky knows. I think he wants cash. He always wants a little more, always wants a little more, always wants a little more.
Let me ask you, who can help in this situation? Because Putin's also not helping, right? Putin's also not helping the fact that he's not wanting to come to the table. You know, it's almost like he's trying to say, hey, Trump, mind your own business. I'm dealing with my kid here, Ukraine. This is none of your business. Leave it alone. I'll let you know when we want to do something.
You don't dictate the terms. Is that kind of the vibe you get from Putin? That's the vibe I get.
And there are two words that would that the rest of the world would probably flip out at. But there's two words that Trump could utter to Putin to help move that forward. Crimea and Dornbus. And say, tell you what. We draw the new line, Crimea, Donbass. We call off the war. We do all this. Do you see what I mean? And I think – remember, Russia feels that that is historically theirs.
They feel that the creation of Ukraine stepped on their historical territory, and they've been upset about it for decades. as long as Ukraine has been separate. And so I think that's what Putin also has his desires, and it's territory and what he says is legitimate Russian historical soil.
Does Ukraine have a deal with China at all? Rob, can you check that? Does Ukraine have a deal with China on minerals? Do they have a mineral deal? I don't think they need them, but let's just see if there's anything there.
I haven't heard of one.
Yeah. Yeah. I said I'm exactly engaging with their nations. Okay.
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Chapter 4: Why is the rare earth minerals deal with Ukraine critical for the US economy?
They will never keep their commitment on their contract. They're not going to do it. So do you want to partner with somebody like that? Or do you want to partner with somebody like us? Who do you want to partner up with? And that doesn't mean the U.S. is a perfect, like, we don't have any... stuff that we bully and we challenge and we expect and all that other stuff.
But that kind of comes with the territory when you got a good business.
Can I tell you, I so much agree with you because what I've said so many times here is that Donald Trump is one of the most brilliant marketers we've ever had. But for some reason, when he's rolling out policies, he doesn't use his marketing skills as much as he should. Like he should be basically explaining, guys, here's the plan. Here's what we're doing. You know, I've said this a million times.
Drain the swamp. Lock her up. Build the wall. All of these great three word terms. Got him elected. So if you want to get a rate cut with Jerome Powell, cut that rate. If you want to deal with China, make China pay. It's so easy. But there's so much uncertainty in the marketplace. My one request for Trump is just be very clear on your messaging and America will be with you.
There's so much uncertainty and you're adding to the chaos by not being clear. I think he could do better on the messaging.
Yeah. We'll see. We'll see what's going to happen there. The reality of it is that we're still in the thick of things, and it doesn't look like a deal is around the corner yet, specifically with one country everybody's looking at, which is China. And all the markets love the Indian news today.
That's right.
Green, green, green. So let's go to the next one. Trump's studying if removing Powell is an option. Tom, is there anything new with this year of him removing Powell?
No, it's just statements. You know, I'll remove you. And everybody goes, how? Trust me, I'll figure something out.
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Chapter 5: What is the controversy surrounding Anthony Fauci and the lab leak theory on COVID-19?
We can. We're commenting. All right. So Jon Stewart goes on. I remember this. Stephen Colbert. After Stephen Colbert did a mariachi samba dance. For vaccines.
With all the vaccines. To get your vaccine.
And mind you. This whole thing. Before you play it. So what year is this when we play this? This is 2022, I'm assuming. What year is this?
And remember, if you talked about.
What year is this, Rob? 2021.
And remember this. What we're doing now, if we did this during COVID, they would shut down the channel. Think about that. They would shut down the channel, which it boggles my mind that they were suppressing it, and now they're getting away with murder.
We used to have conversations about, should we talk about this? Should we not talk about this? Is it worth the channel? I mean, hopefully, guys, everything okay? We're having a discussion. But I remember this dance. From Stephen Colbert. Look how uncomfortable he is right now. Watch this. Go ahead. Stephen Colbert with Jon Stewart.
We owe a great debt of gratitude to science. Science has in many ways helped ease the suffering of this pandemic. Which was more than likely caused by science And that's kind of Listen, listen.
It's coffee. I wouldn't do that to you. I wouldn't do that to you. What do you mean by that?
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Chapter 6: What allegations are being made against Andrew Cuomo regarding the COVID-19 nursing home deaths?
Well, the second one or the first one? First one. The first one, I actually think Nancy is mostly in the wrong. You're at a public forum, you're at what looks like a CBS or a Walgreens or whatever. The guy was not as sassy as the article made it out to be. His shorts were a little bit lower than I thought they would be, no doubt. He basically said, hey, when's your next town hall?
He wasn't like, fuck you, I hate you. He said, when's your next town hall? And she was quick on the trigger. I mean, I think she went to the Citadel, right? She was like one of the first women, if not the first person to graduate from the Citadel, from some certain segment of the Corps of Cadets of the Citadel. You can fact check that. So she's a badass. I get it.
But, you know, sometimes when you have a trigger finger, you're a little quick on the trigger. So all he said was, hey, when's your next town hall? And it devolved into, no, you, no, you. What? I think it's a little aggressive on her part. Not a good look for her.
Yeah, go ahead, Tom. I'll let you know what I got to say.
So do you know how many times? You know, you can't go to the store as a House representative or a senator or anybody. You can't go out. You can't go to dinner. You can't go places. We see it. People just get in your face. And so does she have a quick trigger? Maybe. You know, this guy was playing this little game of kind of you didn't answer the question, you didn't answer the question.
She said, I did 12 town halls last year. I'm doing town halls this year. Why don't you go to the last year or this year? So I agree that she was a little maybe quick on the trigger. But how many times do you think – Folks are getting in her face. And so they end up with a naturally quick trigger. Look at look at the way athletes evolve as they get fame.
There are those that know how to deal with it and they have a handler get you in and out of restaurants. And they have those sometimes gets a little good. You know, they get a little chippy with people because, you know, you drop the ball, you don't know this. And in this case.
Yeah, is she a little quick? A little quick, but you know what? I'm for her because you know what? She is a female, a rape victim female that is pro-woman, obviously. She's been sticking up for women. She's sticking up for women not to have men be in the bathroom with women in Congress. And did you see the backlash?
Or schools, specifically.
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Chapter 7: What happened during Congresswoman Nancy Mace's confrontation with a constituent in Daisy Dukes?
And I'm there, and I sit and watch everybody. I don't make a single noise. Vinny, do you know how many people out of the 300 people in the room rooted for Trump once? Do you know how many people? Zero. Zero. You know what's the next thing I did? I went straight to the administrator. I said, can I ask you a question? Do you guys like debate here? Of course we do.
How come all of you are for Hillary? No, we're not. I said, tell me one person here is not for Hillary. Go ahead. You know me when we go to Chops. I'm going to bring up the conversation. So tell me, how come none of you guys are rooting for Trump? He's not a good guy? Is that what it is? So all of you guys know what's right for the rest of us. Is that what it is? Yeah.
I said, I can't come back to Harvard again. Why? Because you guys don't believe in debate. This is not a place where you guys believe in debate. This is a place where you guys want to brainwash everybody to think the way you think. This is not a place where you welcome debate. You all look down at people like me.
You all look down at people like us who have a different opinion on what can happen, right? And Harvard's going through right now. I'm telling you, if discovery opens up, it is going to be horrible for Harvard. Adam.
Well, this is a shock to nobody. I mean, what percentage of university professors lean liberal versus conservative? I think it was 13 to 1. It could be even higher at this point.
13 to 1 for every one conservative? 13 is liberal.
Yeah, there's actually a new report out there that could be as high as 28% Harvard studies indicate that over 80% of Harvard faculty identify as liberal. Only 2% identify as conservative, which is 18%. Is that according to Chad GBT? This is according to Chad GBT.
Can you tell Rob to ask this question? Because Chad GBT is owned by OpenAI. What question did you ask, by the way?
I said, what percentage of university professors are liberal versus conservative? And then find out what Harvard was. I'm sorry, Harvard was. Harvard is a different university. But nobody's shocked to hear what's going on here. And you talked about the hotbed of this type of mentality. Harvard is the tip of the spear with this.
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Chapter 8: How does the podcast panel view the political and social implications of these current events?
He gets the top because I respect him. You know what I mean? Tom stays over, and I don't drink. Tom doesn't drink like that. And then we just put on a football game, and we just get into it. And then that's it. And then we just fall asleep twice a week, Monday and Friday.
When I see this, you know what I think, Vinny? That's not gay at all, Vinny.
No, what do you mean? Adam, it's for his health.
It's totally masculine. I get it.
Oxford, find out that. Look at that word. Requires two guys' nights. I'm helping. What are you talking about? He needs it.
I bet you he needs it. Whenever you see a university does a study, somebody paid for the study. Yeah, for sure. Right, like this public money. So who would pay for this? A bar? Yeah, it's the London Association of Pubs. Probably paid Oxford for this.
You're going to bars not enough times.
You've got to go twice a week. A conclusion of our study is two nights a week, you need to be at the pub. And drink. Pub owners rejoice at results of new studies.
But, I mean, can you see, probably, let's just say somebody's, you know, I'm married, and it's just, he's at the house with the family, with the kids, you know, and they're just all about that. A break to be, because I don't know, because I'm a single guy. Like, don't you think to be with your friends and get that vibe is good?
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