>> David: AN ECONOMIC CATASTROPHE IN SLOW MOTION.

FROM BALLOONS TO TikTok, HOW THREATENING IS CHINA?

AND WHAT IF THEY HELD A CORONATION AND NOBODY CAME?

STAY TUNED.

"IVORY TOWER" IS NEXT.

♪ ♪ >> David: GOOD EVENING.

WELCOME TO "IVORY TOWER".

I'M DAVID CHANATRY, FROM UTICA UNIVERSITY.

I'M JOINED AROUND THE TABLE TONIGHT BY CHAD SPARBER FROM COLGATE UNIVERSITY, TARA ROSS FROM ONONDAGA COMMUNITY COLLEGE, TY SEIDULE FROM HAMILTON COLLEGE AND ANIRBAN ACHARYA FROM LEMOYNE COLLEGE.

CONGRESS AND THE WHITE HOUSE ARE PLAYING CHICKEN WITH THE ECONOMY AND THE CARS ARE GETTING CLOSER TOGETHER.

JUNE 1ST APPEARS TO BE DROP-DEAD DATE FOR A DEAL TO BE PASSED OR THE UNITED STATES DEFAULTS ON ITS BILLS.

WE'RE BEGINNING TO SEE HINTS OF AT LEAST "TALKS," IF NOT NEGOTIATIONS.

PRESIDENT BIDEN SAYS SPEAKER KEVIN McCarthy IS TRYING TO HOLD THE ECONOMY HOSTAGE TO PUSH DRASTIC SPENDING CUTS.

BUT IF McCarthy HAS LEVERAGE, WHY NOT USE IT?

>> BIDEN HAS A PROBLEM, AND PRESIDENT BIDEN HAS A PROBLEM THAT SENATOR BIDEN HAS BEEN A VOTING RECORD AGAINST RAISING THE DEBT CEILING THREE TIMES ON BUDGETARY CONCERNS.

ALSO GOT PROBLEMS BECAUSE 60% OF VOTERS DISAPPROVE OF HOW HE'S HANDLING THE ECONOMY TO BEGIN WITH AND BUSINESS AND STATE POLITICAL LEADERS STARTING TO PLEASURE HIM TO COMPROMISE.

MANSION MIGHT BE PART OF THE THAT HE DIVISION AS WELL.

SO, I DON'T REALLY SEE A WAY OUT OF THIS MESS IN WHICH BIDEN GETS EVERYTHING THAT HE WANTS.

>> David: SO THERE HAS BEEN TALK ABOUT MAYBE LIKE A LITTLE END RUN.

HOW IS THIS IDEA OF USING THE AMENDMENT TO SAY WE DON'T HAVE TO PAY ATTENTION TO THIS LAW ANY WAY?

>> ABSOLUTELY, IF I UNDERSTAND THE ARGUMENT CORRECTLY IT SAYS THAT THE 14TH AMENDMENT REALLY GIVES CONGRESS THE AUTHORITY TO BASICALLY MAKE SURE THAT THE GOVERNMENT'S DEBTS ARE PAID BUT NOT THE AUTHORITY TO BASICALLY SAY, WE WON'T PAY THE DEBT UNLESS YOU DO X, Y OR ZT PROBLEM FOR THE PRESIDENT IS, THAT THERE REALLY ISN'T ENOUGH TIME FOR HIM TO MAKE THE CASE THAT HE HAS THE AUTHORITY TO GO AROUND CONGRESS, AND NOT WORRY ABOUT WHETHER OR NOT THEY WILL EXTEND THE DEBT CEILING.

AND WITHOUT HAVING THE TIME TO MAKE THAT ARGUMENT, BASICALLY, IT WOULD LOOK LIKE THE PRESIDENT IS MAKING AN ARGUMENT THAT SOMEBODY HOW HE SUDDENLY FULL FIGURED OUT NO OTHER PRESIDENT FIGURED OUT, AND THAT SUDDENLY HE HAS THE RIGHT WAY WE SHOULD BE DEALING WITH THE DEBT.

YOU JUST DON'T HAVE TIME FOR IT.

>> David: THAT'S A PRETTY GOOD WAY TO PUT IT.

HE'S GOT SOMETHING -- HE KNOWS SOMETHING NOBODY ELSE DOES.

>> EXACTLY.

>> ACHARYA, WHAT DO YOU THINK?

SHOULD HE STICK TO HIS GUNS OR -- >> WE'RE STARING DOWN A PATH WHICH WE HAVE NEVER BEEN THERE BEFORE, RIGHT.

I MEAN, THE SENSE THAT THE UNITED STATES HAS NEVER DEFAULTED BEFORE.

AND THIS WOULD BE A REALLY GLOBAL CATASTROPHE FOR THE UNITED STATES FAILS TO PAY OBLIGATIONS AND SO ON.

SO, I THINK THAT BIDEN DOES HAVE SOME LEVERAGE IN THE SENSE THAT, CRASHING THE ECONOMY OUT OF SOME KIND OF PART OF THE SPEAKER, WOULD NOT REALLY BE LOOKED UPON WELL ON THE REPUBLICANS AS WELL.

BUT I ALSO THINK THAT KEVIN McCARTHY IS HELD HOSTAGE BY THE FAR RIGHT OF HIS PARTY WHO, HE'S FEELING THAT HE MIGHT HIMSELF BE TOPPLED.

MY PREDICTION IS IT WOULD BE RAISED, SUSPENDED FOR A FEW MONTHS FOR THE NEGOTIATIONS TO CONTINUE.

AND THEN, WE WILL COME BACK TO THE SAME POSITION AGAIN AND WE'LL SEE WHAT HAPPENS THEN.

AND THERE IS A NEW NOVEL IDEA THAT THE FEDS CAN MINT COINS SO -- THERE CAN BE A MILLION, TRILLION DOLLAR COIN THAT CAN BE MINTED AND THAT CAN SOLVE THIS CRISIS.

THE OTHER ONE IS THE DISCHARGE, TO KIND OF CIRCUMVENT THE SPEAKER AND HAVE A FLOOR VOTE, SO THERE ARE DIFFERENT OPTIONS GOING ON.

BUT I DO NOT THINK THAT THE REPUBLICANS HOLD ENOUGH POWER OR CONFIDENCE IN THAT SENSE TO SAY THAT, OKAY, WE WILL ALLOW THE COUNTRY TO DEFAULT AND THEN WHAT HAPPENS TO SOCIAL SECURITY PAYMENT, VETERANS PAYMENTS, YOU KNOW, IMPORTANT THINGS THAT REPUBLICANS DEPEND ON SO I THINK THAT BIDEN MIGHT WIN THIS CASE.

I THINK IT WILL BE SUSPENDED FOR A FEW MONTHS.

>> David: AT THE END OF THE DAY, WE DO HAVE A 31 TRILLION DOLLAR DEBT.

AND IT IS HARD TO UNDERSTAND A, HOW MUCH MONEY THAT IS, AND B, I DON'T KNOW HOW MUCH RISK THAT IS.

BUT, IT SEEMS LIKE PROBABLY NOT A GOOD THING.

TY?

>> I DON'T THINK THAT IT IS THAT BIG -- THE FED IS NOT NEARLY AS BIG AS THE IDEA THAT YOU'LL PUT A GUN TO YOUR HEAD AND BLOW YOUR OWN HEAD OFF WHICH IS WHERE WE ARE RIGHT NOW WITH THE DEBT CEILING.

IT IS IT WILL BE ECONOMIC CATASTROPHE WORLDWIDE, UNEMPLOYMENT IF WE DO THAT, AND THE REPUBLICANS ARE SAYING, I'M CRAZY ENOUGH TO DO IT.

AND I BELIEVE THEM.

THAT THEY'LL ACTUALLY NOT PASS THIS.

AND, BECAUSE McCARTHY IS PROBABLY THE WEAKEST SPEAKER SINCE WASHINGTON WAS A CORPORAL SO THERE IS NO WAY THAT HE IS GOING TO BE ABLE TO, I THINK, DELIVER THE VOTES FOR THIS.

SO I'M REALLY CONCERNED AND I THINK THAT BIDEN SHOULD DO WHATEVER HE CAN.

WHETHER IT IS A PLATINUM COIN OR PREMIUM BONDS OR THE 14TH AMENDMENT OR WHATEVER IT IS TO MAKE SO IT THIS DOESN'T HAPPEN.

>> David: WE'RE SAYING WE SHOULD MINT A PLATINUM COIN, CHAD.

>> NO, SO LET ME START OUT BY SAY THAT I AGREE WITH SECRETARY YELLEN THE DEBT CEILING SHOULDN'T EXIST BUT IT DOES SO WE HAVE TO DEAL WITH IT.

AND I'LL GIVE SOME -- WE HAVE TO RECOGNIZE THE REPUBLICANS DO HAVE THE VALIDITY IN THEIR ARGUMENT THEY ARE SAYING THAT, THE GROWING DEBT.

YOU MENTIONED FEDERAL DEBT TO GDP RATIO WAS 60% ON THE EVE OF THE GREAT RECESSION.

RIGHT NOW, IT IS TWICE THAT AT 120%.

THE CONGRESSIONAL BUDGET OFFICE ESTIMATES A CURRENT TRENDS WILL REACH 250%, BY MID-CENTURY.

NOW, I AGREE WITH YOU THAT WE SHOULDN'T BE PLAYING CHICKEN ON THIS ISSUE.

BUT THE FACT THAT THEY ARE FOCUSING ON THESE DEBT ISSUES, THAT'S A REAL THING THAT WE CAN'T GET AROUND.

AND I JUST DON'T SEE HOW AGAIN, BIDEN DOESN'T HAVE A WAY OUT OF THIS IF THE REPUBLICANS PASS THE CEILING, IN CONJUNCTION WITH THE BUDGET AGREEMENT IN THE HOUSE, AND THE CINEMA AND MANSION GET ON BOARD IN THE SENATE, ALL OF A SUDDEN BIDEN KIND OF HAS TO SAY, LIKE, WHAT IS BIDENEN GOING TO DO?

>> HOW CAN THE REPUBLICANS -- THEY CAN'T SIDE WHAT THEY WANT EITHER.

>> THEY PASSED A BILL BUT THAT TAKES -- >> TAKES EVERYTHING DOWN 22% TO THINGS THE REPUBLICANS REALLY WANT AS WELL.

>> David: NOT EVERYTHING BECAUSE NOT DEFENSE, RIGHT.

>> NOT DEFENSE BUT VETERANS BENEFITS WILL GO DOWN 22%.

>> BUT THAT'S WHY THEY BECOME KEY.

IF IN THEY MANAGE TO WORK OUT SOME SORT OF AGREEMENT WITH THE SENATE COLLEAGUES AND GOES BACK TO THE HOUSE, IF THEY GET A BILL THAT GOES TO BIDEN, HOW IS BIDEN GOING TO SAY NO TO THAT?

>> BUT THERE IS A HUGE ISSUE OF CONFIDENCE HERE, RIGHT.

LIKE, THE UNITED STATES IS AN ATTRACTIVE PLACE TO INVEST, AND TREASURY BONDS ARE LIKE GOLD ALMOST, RIGHT.

SO, I DO THINK THAT TAKING ON DEBT IS NOT REAL THINK THAT MUCH OF A CATASTROPHE, JAPAN HAS 4% DEBT TO THE GDP RATIO SO MAKING DEFAULT WOULD BE WORSE AND COSTLIER IN THE LONG TERM DEFINITELY SO BECAUSE IT WOULD ERODE THE CONFIDENCE IN THE U.S. ECONOMY.

>> MAKE IT JURORS THERE IS NO DOUBT ON THE DEFICIT ---IF WE DEFAULT THAT'S TERRIBLE BUT DON'T TELL ME THAT 250% DEBT GDP RATIO NOT A PROBLEM.

IT IS ABSOLUTELY A PROBLEM.

>> David: NOW, ONE AREA THAT WON'T BE CUT, IN ANY OF THIS, IS DEFENSE SPENDING.

WE'RE PRETTY SURE ABOUT THAT ONE REASON THERE IS SUCH STRONG SUPPORT FOR HIGH LEVELS OF DEFENSE SPENDING IS THE PERCEIVED THREAT FROM CHINA.

WORRIES ABOUT CHINA SEEM TO BE EVERYWHERE FROM SPY BRANS TO A SECRET CHINESE POLICE STATION IN NEW YORK CITY, EVEN TO THE POPULAR SOCIAL MEDIA APP TikTok.

A TOP DEFENSE OFFICIAL HAS LABELED CHINA THE MOST CONSEQUENTIAL THREAT TO THE U.S. FOR ITS PART, CHINA ASSURES THE WEST IT'S NOT A THREAT.

BUT THIS DOES SEEM TO BE A NEW COLD WAR BREWING.

AND HOW BIG OF A THREAT DO YOU THINK WE HAVE, TY AND IF SO, IF IT IS A THREAT, HOW DO WE DIFFUSE IT?

>> I THINK IT IS IMPORTANT TO LOOK AT THE CONTEXT WITH CHINA.

CHINA OVER THE LAST 30 OR 40 YEARS BROUGHT MORE PEOPLE OUT OF ABJECT POVERTY THAN EVER HAPPENED IN THE HISTORY OF THE WORLD.

AMAZING.

OF COURSE BEFORE THAT, THEY KILLED 40 TO0 MILLION PEOPLE UNDER MAO AND THAT WAS A PROBLEM.

BUT NOW THEY ARE A TRUE COMPETITOR AND THEY WERE DOING FINE UNTIL XI TOOK OVER AND PRESIDENT XI CREATED A SECURITY STATE AND ESPIONAGE STATE THAT'S REALLY FUNDAMENTALLY CHALLENGED THE WEST.

AND SO WE'RE GOING TO HAVE TO DEAL WITH THAT OVER THE LONG TERM.

AND WE'LL HAVE TO BE ABLE TO DETER THAT BUT HE -- BUT IN A WAY, IT IS GOING BE VERY DIFFERENT, UNLIKE THE SOFT YETS, WE'RE THE NUMBER ONE TRADING PARTNER AND WE'LL HAVE TO FIGURE OUT A WAY TO DEAL WITH THEM DIPLOMATICALLY, MILITARILY, ECONOMICALLY OVER THE LONG TERM OR WE'LL HAVE WAR AND THAT IS CERTAINLY A CONCERN.

WE HAVE TO WORRY ABOUT WAR, AND CONTINUE TO TRADE.

>> AND.

>> TRADE IS AN INTERESTING ASPECT BECAUSE WASN'T THE WHOLE IDEA OF ESTABLISHING TRADING WITH CHINA WAS TO BE FRIENDS AND NOT ENEMYS?

>> YES.

THAT WAS THE CONCERN.

THEY JOINED THE WORLD TRADE ORGANIZATION.

>> YOU'RE KIND OF ALLUDING TO ECONOMIC THREAT TOO SO IT IS INTERESTING TO THINK ABOUT THE ECONOMIC ANGLE.

ONE OF THEIR GOALS TO DECREASE GLOBAL DEPENDENCE ON THE DOLLAR BOTH IN INTERNATIONAL TRANSACTIONS AND AS A GLOBAL RESERVE CURRENCY.

THERE HAVE BEEN SORT OF EFFECTIVE IN THAT IN WAYS AND THAT DOES HARM US, BUT I'M NOT AN ALARMIST TERMS OF THE CHINESE THREAT ON AN ECONOMIC FRONT AND THAT'S BECAUSE, THE CURRENCY THAT THEY WANT IS A TRACEABLE CURRENCY POPULAR WITH NOBODY BUT AUTOCRATICS THAT WANT TO MONITOR WHAT THEIR CONSTITUENTS ARE DOING.

THE GOVERNMENT IS TOO INTERVENTIONIST IN INTERNATIONAL INVESTMENT AND DOMESTIC AND SEVERE CRACKDOWN THEY HAD IN RECENT YEARS ON PROFESSORS AND FREEDOM OF SPEECH AND PROFITS.

THAT'S NOT A RECIPE FOR FUELING ENTREPRENEURIAL ENGINES OF ECONOMIC GROWTH.

SO I'M NOT AS WORRIED ON AN ECONOMIC FRONT BUT I SHARE THE CONCERNS ON A POLITICAL FOR SURE.

>> SO, THE IMMEDIATE THREAT I GUESS WOULD BE TAIWAN.

AND IF -- YOU ALLUDED TO WAR.

IF IT CAME TO THAT WITH TAIWAN, WOULD AMERICANS, TAR REMARK DO YOU THINK THAT AMERICANS WOULD SUPPORT THAT?

>> YOU KNOW, THAT'S A TOUGH CALL BECAUSE, THIS CURRENT GENERATION OF AMERICANS DON'T HAVE SORT OF THE MEMORY OF THE COMMUNIST REVOLUTION, EVEN THEIR PARENTS DON'T HAVE THE MEMORY OF THE COMMUNIST REVOLUTION AND THE IMPORTANCE OF BACKING TAIWAN, HOW TAIWAN WAS ESTABLISHED.

I LITERALLY JUST TAUGHT THIS AND I CAN TELL YOU THEY DON'T HAVE MUCH OF A CLUE ABOUT THIS AT ALL.

SO, IT WOULD -- YOU WOULD REALLY REALLY HAVE TO WORK TO MAKE THE CASE THAT AMERICANS SHOULD LOSE THEIR LIVES OVER THINK THIS ANY ISLAND WHICH ORIGINALLY BASICALLY WAS PART OF CHINA ANYWAY, AND THINGS ARE NOT PERFECT IN HONG KONG BUT THEY SEEM TO BE ACCEPTABLE IN HONG KONG.

SO, I THINK THAT MOST AMERICANS WOULD SAY, WELL, YOU KNOW, HOW DIFFERENT IS TAIWAN FROM WHAT HAPPENED IN HONG KONG.

IT REALLY BELONGS TO CHINA ANYWAY.

SO, SHOULD WE LOSE OUR LIVES OVER IT?

IT WOULD BE A VERY HARD SELL.

BUT, TAIWAN I THINK IS PROBABLY THE BIGGEST INTERNATIONAL CHALLENGE IN TERMS OF OUR RELATIONSHIP WITH CHINA.

AND, PART OF WHAT I THINK CHINA IS DOING IS, STEADILY, STEPS SEEING HOW MUCH -- HOW WILLING THE UNITED STATES IS TO JUST KIND OF LET THEM GO AND MAKE THEIR ARGUMENTS ABOUT WHY THEY SHOULD BE REGAIN TAIWAN, REGAIN CONTROL OVER, ET CETERA.

SO I DON'T THINK THAT WE SHOULD GO TO WAR OVER TAIWAN.

BUT THAT WE WILL.

>> David: OKAY.

>> I THINK THAT CHINA AT LEAST IN RECENT TIMES, THEY HAVE BEEN ABLE TO PORTRAY FOR THE REST OF THE WORLD, IT IS NOT AT RISK OF LOSING POWER, MILITARILY SPEAKING AND IT HAS MORE, SHOWN MORE DIPLOMATIC BREAKTHROUGHS IN RECENT TIMES AND THAT, I THINK, CHIPS AWAY AT THE U.S.

IN SOME WAY OR THE OTHER.

NOW, I'M NOT TRYING TO BE AN ALARMIST ABOUT CHINA EITHER.

I DO THINK THAT CHINA'S ECONOMY CRISIS SPECTACULAR AND COULD BE -- TO KIND OF BLOCK THE ECONOMIC GROWTH BY MILITARY POWER.

NOW, THE UNITED STATES OF COURSE IS THE LARGEST MILITARY POWER IN THE WORLD, HAS MORE MILITARY EQUIPMENT AND FIREPOWER THAN THE NEXT SEVEN COUNTRIES COMBINED.

BUT I DO THINK THAT U.S. IS BETTER OFF IN ENGAGING CHINA DIPLOMATICALLY, AS A TRADE PARTNER AND AS A CORPORATE VENTURE RATHER THAN AN ENEMY BECAUSE, I MEAN, AS WE HAVE SEEN, THE REST OF THE WORLD DOESN'T SEE CHINA TO BE AN AGGRESSIVE FORCE THAT INVADES COUNTRY.

>> David: CHINA DOES HAVE THE INITIATIVE WHERE THEY ARE TRYING TO PROVIDE AID OR MAKE FRIENDS OR MAYBE GET LEVERAGE OVER -- >> ECONOMIC DEPENDENCY.

>> LIKE ZAMBIA.

ZAMBIA BASICALLY WENT BANKRUPT BECAUSE OF THE LOANS THAT THE CHINESE GAVE THEM.

SO I THINK THAT'S A BIG PROBLEM FOR CHINA GOING FORWARD IS HOW ARE THEY GOING TO DEAL WITH THE DEBT THAT EVERYONE OWES THEM.

>> David: AND ON.

>> ON THE TAIWAN ISSUE, IT GOES BACK TO THE UKRAINE, HOW IMPORTANT WE MAINTAIN OUR RESOLVE AND CHINA CAN TAKE A ROLE IN NEGOTIATING PEACE THAT WOULD BE A GREAT ROLE.

>> AND CHINA NEGOTIATE PEACE AND ZELENSKYY WAS VERY WARMED UP TO IT, BUT, AGAIN, THE WESTERN MEDIA SHOT IT DOWN SAYING THAT WE DON'T EVEN WANT TO LOOK AT THE PROPOSAL.

THAT'S A LUDICROUS PROPOSAL.

SO THIS INSTINCTIAL CONFRONTATION, WITH CHINA, I THINK THAT IT IS WRONG, AND IF WE WERE TO GO BACK TO THE FAMOUS PEOPLE FROM THE EARLY 20TH CENTURY, THEY MIGHT AGREE.

>> David: I'M TOLD BY RELIABLE SOURCES THAT THERE IS GOING TO BE A CORONATION THIS WEEKEND.

CHARLES THE THIRD WILL BE CROWNED AS KING AND FORMALLY BECOME HEAD OF THE CHURCH OF ENGLAND.

THE CROWN ITSELF IS THE 5-POUND St. EDWARDS CROWN, WHICH DATES BACK TO 1661 AND THE RESTORATION OF THE MONARCHY.

THERE WILL BE POMP AND PAGEANTRY AND DAZZLE AND LOTS OF JEWELS.

AND MILLIONS OF AMERICANS WILL GET UP EARLY TO WATCH.

WHY DO AMERICANS CARE SO MUCH ABOUT THE MONARCHY?

>> SEVERAL REASONS.

WE DO HAVE THIS LONG STANDING HISTORY WITH THE BRITISH BEING SORT OF OUR INITIAL MOTHER COUNTRY AND SO I THINK THAT IN OUR HEADS, THEY HAVE BEEN OUR ALLIES IN NUMEROUS WARS AND IN OUR HEADS, WE SEE THEM AS KIND OF OUR COUSINS ACROSS THE POND.

SO I THINK THERE IS THAT SORT OF INFIBBITY TO LET'S SEE WHAT THE COUSINS ARE DOING.

SECONDLY, I ALSO THINK THAT, THE CORONATION IN SOME WAYS IS SORT OF LIKE THE MET GALA.

WE JUST WANT TO SEE HOW BIZARRE IT CAN BE.

WE'RE SORT OF FASCINATED BY IT.

HOW BIZARRE, HOW STRANGE, HOW INTERESTING ARE THE OUTFITS GOING TO BE?

THERE IS THAT ASPECT OF IT AND I ALSO THINK THAT, ON A MORE SERIOUS NOTE, THERE IS SOMETHING ABOUT THE TRADITION AND THE PAGENTRY THAT IS ATTRACTIVE BECAUSE IT IS SORT OF REMINDS US OF A BY?

GONE ERA.

WE KNOW THAT THERE ARE MANY NEGATIVES TO THE BYGONE ERA BUT THERE IS SOMETHING ALLURING AND ALMOST COMFORTING THAT THERE IS STILL SOMETHING, SOME INSTITUTION OUT THERE THAT STILL HOLDS ON TO ITS TRADITIONS.

AND VERY QUICKLY I WANT TO CONNECT IT WITH, THE ANGST IN AMERICA OVER WHAT HAPPENED IN -- WITH THE ELECTION OF BIDEN AND HOW TRUMP DID NOT ACCEPT IT.

PART OF THAT ANGST WAS, THAT WAS OUR VERSION OF THE CORONATION.

AND TYPICALLY, IT WENT OFF VERY WELL, AND SUDDENLY, YOU HAVE THIS PERSON AND HIS SUPPORTERS NOT GOING ALONG WITH THE PAGENTRY, NOT GOING ALONG WITH THIS TRANSITION THAT WE HAD ACCEPTED THAT WAS SORT OF THE ONE THING, NO MATTER HOW PARTISAN WE BECAME, THAT WENT OFF WELL AND WE ALL ACCEPTED AND WE LOST THAT.

>> David: OKAY, NOW, I GUESS YOU DON'T FIND THE SAME COMFORT.

>> FIRST OF ALL, ALL AMERICANS ARE NOT GETTING UP EARLY TO WATCH ANYTHING ABOUT CHARLIE.

SOME AMERICANS ARE, AND I THINK ONE OF THE -- SURE, BUT NOT ALL I CAN ASSURE YOU A LARGE PART, NOBODY WILL, RIGHT.

SO IT IS NOT ALL AMERICANS AT ALL.

VERY FEW IF AT ALL I WOULD SAY.

NOW, I WOULD SAY THIS: WHY IS THAT IT THE AMERICAN CONSERVATIVE, CERTAIN OF COURSE INSTINCTIVELY FEEL A CERTAIN KIND OF AFFINITY TO PRIVILEGE THAT THEY WANT TO PROTECT IN THE UNITED STATES ALSO, RIGHT.

AND, THAT MIGHT BE ONE OF THE REASONS.

BUT, LET ME PUT IT IN HISTORICAL TERMS.

THE ROYAL FAMILY HAS BEEN, AND I'LL READ IT OUT LOUD, THESE ARE ALL HISTORICAL FACTS AND GOOGLE AND SEARCH A FREE LOADING MEGAMILLIONAIRE WITH SECRET WEALTH THAT IS BUILT PRIMARILY ON ENSLAVEMENT, RAPE, GLOBAL EXTORTION AND DRUG DEALING.

NOW, GO AND SEARCH EACH ONE OF THESE AND PUT BRITISH EMPIRE AND GOOGLE SCHOLAR AND SEE WHAT HISTORIANS HAVE WRITTEN,.

THE Y, RIGHT.

SO, AND THEY ARE MOOCHERS.

THEY HAVE LAN LAN CASTER AND CORNWELL AND THEY DON'T PAY CORPORATION TAXES.

IN ONE, A BRITISH PERSON ASKED CHARLIE, WE ARE FINDING IT DIFFICULT TO HEAT OUR HOMES AND WHY ARE WE PAYING FOR?

ALL CHARLIE COULD MUSTER IS, "OH."

THAT'S ALL HE COULD SAY, RIGHT.

AND AGAIN, SOMEONE THREW AN EGG AT HIM SO I'M NOT EVEN TALKING ABOUT THE REST OF THE WORLD AND SOUTH ASIA AND BUTCHERY THEY DID ALL OVER THE WORLD, INCLUDING SHOCKING PEOPLE IN DURING THE LAST QUEEN'S TERM.

I'M JUST SAYING THAT, IT IS THE IDEA THAT A STATE, A PERSON, CAN BE PART OF A STATE INSTITUTION BECAUSE OF MILITARY PRIVILEGE AND BLOOD LINE IS OFFENSIVE TO ME FOR THE VERY REASON I FIND IT OFFENSIVE THAT WE'RE IN A WORLD WHERE PEOPLE ARE BORN AND PROTECTED AND SOME ARE BORN INTO POVERTY AND CANNOT GET OUT OF IT.

IT IS A SHAME ON THE BRITISH.

STAGNATION BUT NOT -- MONARCHY NEEDS TO GO.

>> THAT'S TOUGH TO FOLLOW, ISN'T IT.

THAT'S TOUGH TO FOLLOW.

BUT DURING THERE CORONATION CEREMONY, I'M MORE PROUD TO BE AN AMERICAN THAN EVER BEFORE.

BECAUSE, I'M PROUD TO BE AN AMERICAN BECAUSE WE DON'T SWEAR ALLEGIANCE AS THEY WILL.

THEY ASK EVERYONE TO SWEAR ALLEGIANCE TO YOUR IMAGINE INDUSTRY, HEIRS AND SUCCESSORS SO HELP ME GOT.

I'M GLAD WE DON'T HAVE THE STATE AND RELIGION IN THE SAME PERSON.

IT IS LIKE A SECOND BAPTIST THIS PERSON IS GOING THROUGH.

I'M GLAD WE DON'T HAVE THIS.

I'M GLAD WE DON'T GIVE A RANK LIKED OR OTHER OF THE BRITISH EMPIRE TO GIVE VOICE TO WHAT IS THE WORST PART OF THE BRITISH CROWN.

SO ON THIS YEAR, AND ALSO MAKES ME REALIZE THAT, I'M GLAD THAT WE HAVE NOT HAD THE CONSERVATIVE PARTY THAT'S BEEN GOVERNING US SINCE 2008 UNDER THE AUSTERITY PROGRAM.

HIGH INFLATION, LOW GROWTH, I THINK AS TERRIBLE TIME FOR THE U.K. AND THINK THAT THE CORONATION IS SORT OF THE CHERRY ON THE TOP OF THAT.

>> David: BETTER BE ON THIS SIDE OF THE POND.

CHAD?

>> I SHOULD AGREE WITH THEM IN SPIRIT IF NOT TONE, THAT, LOOK, I'M IRISH CATHOLIC.

THE KING IS A HEAD OF THE CHURCH OF EVENING LAND WHOSE ANCESTORS PURSE CUTED MY OWN AND HAVING LIVED IN THE U.K. FOR A NON-CONSECUTIVE YEAR OF MY LIFE, YOU KNOW, THERE WAS A LOT MORE CHARM AND IMPORTANCE TO THE MONARCHY, SPECIAL RELATIONSHIP IS THE PHRASE THE BRITS USE TO DESCRIBE THIS COUSIN RELATIONSHIP THAT TARA WAS HINTING ON.

IT IS SO MUCH MORE COMPLICATED THAN I EVER APPRECIATED BEFORE I MOVED THERE.

>> David: OKAY.

THANK YOU.

AND WE ARE GOING TO GO TO OUR AS AND FS.

AND CHAD, WE'LL BEGIN WITH YOUR F. >> OKAY, SO YOU MIGHT HAVE HEARD ABOUT THE PROPRIETOR OF THE HAMILTON PROPERTY MANAGEMENT COMPANY WHO WAS PROMISING AN 8% RATE OF RETURN ON UNSECURED LOANS TO INVESTORS.

BUT IS NOW FILED FOR BANKRUPTCY CLAIMING 93 MILLION DOLLARS IN DEBT VERSUS 22 MILLION IN ASSETS.

THIS HAS BEEN DEVASTATING FOR OUR SMALL COMMUNITY.

THE INVESTORS ARE OUR FRIENDS, COLLEAGUES, NEIGHBORS, THERE ARE CHURCH, CEMETERIES AND OUR FIREDEPARTMENTS.

THERE ARE A LOT OF GOOD PEOPLE AND GOOD INSTITUTIONS THAT STAND TO LOSE SIGNIFICANT PORTIONS OF THEIR SAVINGS.

DISTRICT ATTORNEY LETITIA JAMES IS INVESTIGATING FOR POTENTIAL IRREGULARITIES NOW SO STAY TUNED.

>> David: OKAY, TAR REMARK F. >> MY F GOES TO EDUCATIONAL SYSTEM.

THE NATIONAL ASSESSMENT FOR EDUCATIONAL PROGRESS REPORT SHOWED THAT IN NATIONALLY IN HISTORY AND CIVIC SCORES ARE DOWN.

THESE SCORES REFLECT A SIMILAR DOWNTURN IN MATH AND READING SCORES THAT REPORT CAME OUT LAST OCTOBER.

MANY WILL BLAME THE PANDEMIC FOR THIS BUT THE REALITY IS THE PROBLEM EXISTED BEFORE THE PANDEMIC.

IT ONLY MADE IT WORSE.

AND, WE NEED TO ADDRESS THE FACT THAT MANY OF OUR STUDENTS ARE LEAVING GRADE SCHOOL AND AT THAT POINT, THEY NEED REMEDIAL SKILLS WORK AND THEY GET IT THEN AND IT ONLY BECOMES WORE AS THEY MOVE ON.

>> David: TY.

>> MY F GOES TO CHRISTOPHER RUFFO, THE ONE WHO WEAPONNIZED REPUBLICANS AGAINST CRITICAL RACE THEORY FALSELY SAYING THEY INVADED K-12 LEARNING AND NOW ON THE BOARD OF NEW COLLEGE IN FLORIDA AND NEW OUTRAGE IS DIVERSITY, EQUITY AND INCLUSION PROGRAM AND PROFESSIONALS.

DEI FOLKS ARE DOING GREAT WORK AT SCHOOLING GOVERNMENT AND BUSINESSES ACROSS THE LAND HE'S ONCE AGAIN WEAPONNIZING CONSERVATIVES TO ATTACK.

AND AGAIN, INNOCENT PEOPLE ARE PAYING THE PRICE.

HE EARNS MY F. >> AND, SEGUE TO THAT, MY F GOES TO THE NATIONAL TEST SCORES ON HISTORY AND CIVICS THAT CAME OUT RECENTLY.

AND, THE DECLINE HAS BEEN HAPPENING FOR A LONG TIME BUT THE REACHED AN ALARMING RESULT, THE PANDEMIC PLUNGE IN U.S. HISTORY WAS A DOWNWARD TREND THAT BEGAN, IT IS COMING USUAL ATTACK.

>> David: OKAY AND OUR AS.

CHAT CHAD.

>> MY A GOES TO THE MAKE A WISH FOUNDATION, AMERICAN HIGH AND THE LAND MARK THEY REAND EVERYONE WHO HELPED TO PRODUCE AND SCREEN "MARSHAL MAN" ABOUT A SUPERHERO STARRING CHENANGO RESIDENT MARSHAL.

HIS MAIN MORAL, NEVER GIVE UP.

>> AND TARA, YOUR A.

>> MY A GOES TO THE COLLEAGUES AT CAZENOVIA COLLEGE AS THEY COMPLETE THEIR LAST WEEKS OF SCHOOL AND THE LAST WEEKS OF CAZENOVIA.

I JUST WANT TO GIVE PEOPLE IN AN A FOR BEING A STUDY IN GRACE AND PERSEVERANCE.

THEY BASICALLY HAVE DONE THEIR JOBS WITHOUT SHORTCHANGING THE STUDENTS, AND AT THE SAME TIME, ENCOURAGING THE STUDENTS AND LETTING THEM KNOW THAT KATZ GOES WITH THEM WHEREVER THEY GO.

>> AND TY.

>> MY A GOES TO THE U.S. ARMY.

LAST WEEK AN ARMY BASE NAMED AFTER ROBERT E LEE DURING THE JIM CROW ERA CHANGED THE NAME TO FORT GREGG-ADAMS TO HONOR TWO AMAZING AFRICAN-AMERICAN ARMY OFFICER.

THE FIRST TIME A BASE HAS BEEN NAMED AFTER A BLACK OFFICER OR WOMAN.

CHARITY ADAMS LED THE BATTALION, THE HIGHEST RANKING WOMAN IN WORLD WAR II AND ARTHUR GREG THE HIGHEST RANKING BLACK OFFICER AT HIS RETIREMENT.

AT THE AGE OF 94, HE WAS THERE TO SEE THE BASE CHANGED TO HONOR HIM.

>> AND, YOUR A?

>> MY A GOES TO CAZENOVIA COLLEGE AND LEMOYNE COLLEGE WHO HAVE EXECUTED SEVERAL AGREEMENTS WHEREBY LEMOYNE WILL MAINTAIN KATZ I CAN'T NOVEMBER I CAN'T COLLEGE ALUMNI HUMAN RESOURCE RECORDS AND DEDICATE SPACE ON THE LEMOYNE CAMPUS TO PRESERVE THE LEGACY OF CAZENOVIA COLLEGE.

LEMOYNE LOOKS FORWARD TO WELCOMING CAZENOVIA STUDENTS IN THE FALL AND GAGING WITH CAZENOVIA.

>> OKAY.

AND, THANK YOU, AND WE HAVE A THEME GOING WITH CAZENOVIA COLLEGE AND I WOULD JUST LAKE TO POINT OUT THAT OUR FORMER "IVORY TOWER" COLLEAGUE BOB GREENE WILL DELIVER THE FINAL COMMENCEMENT ADDRESS THERE, AND, I'M SURE THAT HE WILL HIT IT OUT OF THE PARK AS -- HE'S A BASEBALL FAN TOO.

SO, AN A TO BOB GREENE.

THANK YOU FOR JOINING US THIS EVENING.

FOR COMMENTS YOU CAN WRITE TO THE ADDRESS ON YOUR SCREEN.

IF YOU WOULD LIKE TO VIEW THE SHOW AGAIN, YOU CAN VIEW IT ONLINE AT WCNY.ORG.

I'M DAVID CHANATRY, FOR ALL OF US AT "IVORY TOWER", HAVE A GOOD NIGHT.

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