Two weeks ago a recession was supposed to be imminent. Instead, the stock market has recovered and job numbers are beating expectations. Naturally, the left is miserable. Charlie and Andrew chat about America's economic prospects while at an investment retreat in San Diego. The two also touch on defunding NPR, the feats of DOGE, and more. Become a member at members.charliekirk.com! Get new merch at charliekirkstore.com!Support the show: http://www.charliekirk.com/supportSee omnystudio.com/listener for privacy information.
Chapter 1: What does the latest jobs report reveal about America's economy?
Well, the jobs report beat expectations. I think Stephen Moore put it really well, where this was over 400,000 actual new jobs, people being employed over 400,000. Jobs report will say 177,000. That beat Wall Street expectations, which had it around 130,000. But non-farm... Payroll went through the roof. We're seeing a lot of manufacturing get reshored.
So the the changes that President Trump is making in the economy, namely through tariffs, tax incentives, regulatory incentives, they're already showing signs that those are working. Stock market took off like a rocket this morning. And actually, what's interesting, two weeks ago, Charlie, everybody was saying the sky is falling. The sky is falling. We got a recession is imminent.
And here we are about two weeks later. The stock market's up twenty eight hundred points. And counting, and you have a lot of these changes that are being implemented in the economy already taking effect.
486.
Let's play cut 486.
436,000 increase in the number of people who are employed. So this is an amazing report. The number of people, the labor force participation rate rose. So this is a really strong number. I wanted to mention one other quick thing. You know, about two weeks ago, Every headline, Wall Street Journal, New York Times, Washington Post, was, oh, the stock market is crashing.
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Chapter 2: How are tariffs and reshoring manufacturing affecting the U.S. economy?
And since then, the market has been up, what, like 2,800 points. Yeah, well, you don't see that headline. And by the way, I don't see headlines about that.
That was the point that Scott Besson made.
Well, it's important to note, too, that the stock market is not the economy. The stock market can react to jitters and news. The economy is growing incredibly strong and is only going to grow stronger with the tax cut that we see coming and deregulation. Let's go to CNBC. Let's play cut 483.
The job, job, jobs report for April hitting the wires, non-farm payrolls, a greater 177,000. We're expecting, as Joe pointed out, 133,000. 177,000 would be the second best of the year outside of what's in the rearview mirror.
Now, you have to wonder, are the Democrats happy about this? I mean, they're the ones saying that the recession is – are they thrilled that the American economy is doing better and is actually only going to further improve? You see, the prediction was that by now we would have major job losses. We have the tariffs. They said by the summer we're going to see major drop-offs.
But this jobs report has exceeded expectations.
Well, yeah, this just reminds me of just about every other –
chapter of president trump's political career where the elites and the experts tell us he's doing it wrong only to find out in the end that he's doing it right that his instincts have been right all along now he's not right about everything listen we're free to disagree with president trump but i i time and time again whether it's foreign policy energy policy tariffs president trump has has an instinct for these things he's a businessman he's seen it up close and personal but
I've always been a fan of tariffs. We have internal disagreements on our team about tariffs. I get it that it causes jitters in the short term, but we're already seeing, especially with auto manufacturing, where they're starting to replace producers and their supply chains. They're reshoring those supply chains. They're already working on it.
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Chapter 3: Why do some believe the stock market and economy perceptions are misleading?
And also remember, remember, they told us that if the border was closed, it would crater America without cheap illegal labor. This is a very important point. The border is completely secure. Ninety nine percent border crossing.
Incredible.
And then we have deportations happening. So it turns out, actually, when you close the border, more Americans get hired. That actually on the books, like what a concept. Well, it's a direct correlation with you close the southern border and American jobs actually increase.
There's actually a clip from Bernie Sanders in 2015 talking about how he is not for open borders. Why? Because that depresses American wages. This is a very, very clear line. And you've made this point on the show a bunch of times, and it's a point that it's worth reiterating, is that we are looking down the barrel of an AI revolution, of a robotic revolution.
So if you're going to keep flooding your country with cheap third-world labor— It's unnecessary. You're also going to be causing a problem down the road where those jobs no longer exist. And that time frame is way closer than most people realize.
Here's Scott Besant, Cut 145, talking about how the doomsdayers said it was going to be the worst— stock market ever. Again, the stock market is not the economy. The stock market can react to economic news. But we're seeing the stock market catch up remarkably. I think the Dow was at 41,000 this morning. Again, invest for the long term, everybody. Play cut 145.
There was a story 10 days ago that said, this is the worst April for the stock market since the Great Depression. Ten days later, the NASDAQ is now up in the month of April, and I haven't seen a story that says, oh, stock market has biggest bounce back ever.
Well, it certainly has gone back and forth.
I think a lot of this is media-driven.
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Chapter 4: What impact has President Trump's policies had on job growth and investment?
Of course, and this is the most important clip of them all, which is this is Joel Shileman, who's a CEO of a company called eShares. Even these CEOs believe the propaganda. They think like, well, the economy must be bad because everyone says the economy is bad. So he is on the front lines of hiring and investing. And he's even surprised at how good the numbers are. Let's play cut 489.
What's interesting, the numbers, by the way, were very, I was a little surprised to see how strong they were. But this is very encouraging because we're already seeing many of the companies dependent upon foreign suppliers already reshoring some of their jobs. In fact, I talked just recently to a couple of entrepreneurs who are getting off their China dependency.
They are going to other Southeast Asia companies for their supplies. And they're starting to look at the message.
manufacturers so they're putting orders in already for the third and fourth quarter for this so and you combine all this together president trump this economy will only get better and it's very important everybody because the media has almost been calling and cheering for an economic collapse i mean can you think of anything more sinister and more wicked than a group of people that want americans to suffer
They actually – if they got their way, the market would go down to 25,000 and people would be out of work. They say, see, I told you Trump is this terrible and awful person.
Well, it's an existential dilemma for them though, Charlie, because if Trump succeeds, that means their entire worldview is cast into doubt.
These are bad people. I hate to say it that way. They're not patriots. If you are cheering for the downfall of America and you're cheering for – if you want bad economic news – then you care much more about political power than any sort of patriotic allegiance to the United States. Do you want to play a piece of tape here?
Yeah, I want to play Charles Payne, 484. One more piece of econ here, and this is talking about manufacturing directly, 484.
As I look at this initially, the one thing that really jumps out to me that I love, transportation and warehousing, up 29,000. Some of this manufacturing, some of these deals that the White House has announced, maybe we're starting to see that already play out.
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Chapter 5: Why is President Trump defunding NPR and PBS, and what are the arguments for it?
Now, defunding is also one way to put it, but here's my challenge to NPR. Go raise your own money like Turning Point USA has to raise money. You see, you got to go. You got to go meet your own donors. You got to go talk to people. Just don't go to the U.S. taxpayer and have us subsidize your radicalism. And so think about that. That's half a billion dollars.
I mean, I think NPR and PBS are completely redundant anyways. You already have New York Times, right? I mean, what do we need NPR and PBS for?
The problem with PBS— PBS used to have some good stuff. —is that PBS is able to get into child environments because it's PBS with incredibly sexually explicit content that is now— laced in this trans insanity and this radicalism and critical theory. But, look, NPR, NPR especially, has become – it's too bad because I actually remember a different NPR growing up.
I mean, they were still liberal, but it was at least, like, entertaining. I mean, you guys remember Garrison Keillor was, like, Little House on the – not Little House on the Prairie. Was that what it was called? Was that what it was called? Little House on the Prairie, right? No, it was – what? Prairie Garden. Prairie Home Companion. That was close.
He was from Mankato, Minnesota, if I remember correctly, right? And that was somewhat listenable. And then Wait, Wait, Don't Tell Me was a pretty good show, if you guys remember, on NPR. And then they had the car show every Saturday morning, which, right, you know what I'm talking about? And now you listen to NPR, and they might still have these shows, but this is what's important.
NPR was really smart. They took the taxpayer money, and they diversified into podcasting, And NPR podcasts are very popular because they have $500 million to produce it, and they are unspeakably radical.
That sounds like they should be making money then, Charlie.
Well, that's right. But here's the thing. So the third biggest podcast out there is NPR. We right now are on the charts. We're number nine, which is great, in Apple News. And just so we're clear, I go through NPR's list, like the list of their episodes, continued crackdown on immigration. Trump defies the law. I mean, it's so outrageous.
And so if you want to go do that, NPR, you've got to sell a lot more tote bags if you want to finance yourself. And that's fine. This is my position with Harvard. No one's saying you can't exist. Go raise your own money. Go to donors like we do on the conservative side and go convince people to voluntarily give you money.
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Chapter 6: How has NPR's content and funding strategy evolved over time?
Chapter 7: What role does capitalism play in the current economic discussion?
I mean, they were still liberal, but it was at least, like, entertaining. I mean, you guys remember Garrison Keillor was, like, Little House on the – not Little House on the Prairie. Was that what it was called? Was that what it was called? Little House on the Prairie, right? No, it was – what? Prairie Garden. Prairie Home Companion. That was close.
He was from Mankato, Minnesota, if I remember correctly, right? And that was somewhat listenable. And then Wait, Wait, Don't Tell Me was a pretty good show, if you guys remember, on NPR. And then they had the car show every Saturday morning, which, right, you know what I'm talking about? And now you listen to NPR, and they might still have these shows, but this is what's important.
NPR was really smart. They took the taxpayer money, and they diversified into podcasting, And NPR podcasts are very popular because they have $500 million to produce it, and they are unspeakably radical.
That sounds like they should be making money then, Charlie.
Well, that's right. But here's the thing. So the third biggest podcast out there is NPR. We right now are on the charts. We're number nine, which is great, in Apple News. And just so we're clear, I go through NPR's list, like the list of their episodes, continued crackdown on immigration. Trump defies the law. I mean, it's so outrageous.
And so if you want to go do that, NPR, you've got to sell a lot more tote bags if you want to finance yourself. And that's fine. This is my position with Harvard. No one's saying you can't exist. Go raise your own money. Go to donors like we do on the conservative side and go convince people to voluntarily give you money.
You know what would happen if PBS and NPR had to start making money and justifying their own existence? You'd get classics like Ken Burns' baseball. Come on, that was actually fantastic. Do we have any baseball fans out here in the audience? Come on now. Give me some. All right. Thank you.
So Ken Burns and baseball, they replay this stuff still because it's still their most popular content as opposed to their more radical stuff.
But yeah, and like the New York Times is not publicly financed and they do fine. They have a subscription based model and I do not. Here's the theory. They know this. NPR is so redundant. What niche are they really feeling other than they're just more left wing noise? And I will say this.
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