
It's a Thursday morning, December 4th.
Nice to have you back here up north.
Parker Olson producing things down in Madison Studio A2.
We'll be joined in a little while by Sean O'Malley, financial expert to talk about your money and the markets.
and blindfolding the Federal Reserve when it comes to setting interest rates because of the lack of some key statistics due to the government shutdown.
Joseph Heckey will be along as well to talk about the entry of former Lieutenant Governor Mandela Barnes into the governor's race, but before all that, we'll check in with Chad Holmes from 98.9 WXCO.
Out in Wasauer, he does the local updates throughout these mornings powered by UpNorth News.
Chad, how are you?
Cold.
Yes.
It
Yeah, this is a little bit unusual because, I mean, it feels like last number of years, winter has been pushed back.
I remember back in the day, Thanksgiving.
and the early December there would always be snow when I was a kid and then
Recently, it has not been.
I mean, what could be causing that?
I don't know.
I don't know.
It
I don't know what.
It's a coincidence.
Yes, I know.
It's a mystery, very much so.
I saw that you had Nancy Stencil on the other day, and when you were on a little break, you were nice enough to loan her to us, Chair of the Marathon County Dems, Seventh CD Dems Chair, either current or past, something like that.
Always.
always has things to talk about up there, especially, you know, in this seventh congressional district where Tom Tiffany is running for governor.
So you have a wide open race now.
And I can only imagine this was after she was on last with you.
But I can only imagine what she and others have to say about Trump, President Trump calling affordability a con job.
As Congressman Mark Pochan reacted to in our in our last hour, I can almost hear Nancy's laugh the next time she's on with you talking about this.
But the thing about it is, every time you hear the president talking about issues, it is more and more apparent he has no idea what he's talking about.
And I don't mean that to be just throwing mud at the wall or anything like that, but it just is where the first thing out of his mind and out of his mouth is that anything that is of
Any criticism that he takes against him, it's got to be some sort of hoax.
And that's no way to lead a government.
That's the thing that jumps out at me.
It's like, man, I mean, you could do this in so many different ways.
And I think it was you yesterday, if I'm not mistaken, talked about last year.
the idea that the Democrats made some mistakes, especially the president, President Biden, in terms of not acknowledging maybe the issue that was inflation, I think earlier, more significantly in his administration, but that some had said, yes, we understand it, we're gonna try to fix some of these issues, not just ignoring the issue.
And I think Donald Trump takes that so much beyond any other president we've ever seen, where if there's a problem out there,
No, no, there's no problem out there.
he has talked about, he talked on the campaign trail about affordability, but you could tell he never had the, you know, with Bill Clinton, they always use the line, I feel your pain.
And it was easy to mock him for it.
But you also knew that he meant it.
And Donald Trump has never meant that.
He, at no point has he shown
personal empathy toward the plight of the people who support him.
I mean, even look when that guy passed out in the Oval Office a couple of weeks back.
Did he go over and try to render any assistance or comfort?
No, he just stood there and stared at the wall.
You know, if Joe Biden had done that, they'd be saying, when can we lock this guy up in a nursing home?
And he's not
getting any healthier, and he's not showing the empathy that would be required at a time like this.
So no wonder you have people watching that Tennessee special election this week and going, ooh, next year's gonna be rough unless Republicans figure out real quick how to show some empathy or service.
Ignoring it that he ignored a guy that was could have been dying next to him Yeah, and I think that is a microcosm of the the Republican health care plan or lack thereof that millions of people are gonna be either Paying a lot more money for their health care or losing their health care completely and of course when that happens people die and the thing that I there was a member of Congress on
One of the cable networks either yesterday or the day before talking about, you know, the outlines again of what they want to do.
The idea that that again, you talk about high risk folks compared to other folks when it comes to insurance that yes, we want to be able to cover the people in the certain groups and not other groups.
And my thought is, well, I could be or not be in a certain high risk group, but that doesn't mean that next week I won't get sick.
No matter what it, I could be somebody that people say, well, there's no way that he's going to get sick in the next two years.
So maybe we don't have to spend all this money on whatever, but there's no guarantees that anybody won't get sick next week.
And then we put in a situation where they have to spend thousands, tens of thousands, hundreds of thousands, millions of dollars to try to save their life.
The idea again, that putting your head in the sand on that issue, especially,
where people are going to die is inexcusable.
And yes, I saw that, you know, we, we've heard about the Tennessee race, but was it seven, eight, nine points?
It was like a 22 point
Because you you've had and I've seen the interviews now around the country of people who are losing like for example their farm and being asked at the at the auction you know
to what degree do you hold President Trump responsible?
And they say, oh, not at all.
He's doing the right thing.
Even though it cost me my farm, I feel like he's on the right track.
So it's that kind of cognitive dissonance that's getting in the way of having service driven.
Republicans joining with service driven Democrats in getting things done.
We're talking to Chad Holmes from 98 9 WXCO in Warsaw.
You can see a lot of the work that he's doing and updated high school sports that he covers at WXCO.fm.
And you've had a busy few days covering high school sports.
It looks like you got do you cover do the hockey as well as the basketball?
I was gonna say I see a couple of
hockey games on the dock at Friday, Wausau West at Waukesha High School.
look, and the same goes for Diane Hendricks, another billionaire who has put a ton of money into, uh, blight sports facilities.
Yeah.
And again, good, good for her on that.
Maybe just spend a little less on the people who are giving billionaires like you all the big tax breaks.
But I bring up the sports only to close with, uh, again, uh, it seems we're, we're going to do this every year.
if the bucks aren't, uh, you know, if they're, if they don't have a perfect record, we're going to be talking about whether, uh, Yana Santatacupo is being traded or not.
Do we, do we buy into the hype or do, are we just waving it all dismissively and saying they got to talk about something?
You cannot wave it dismissively this time because I mean, you kind of, you know, people kind of, oh, you know, it was a social media.
He or somebody within his group decided to make a statement by scrubbing the social media.
You don't do that if things are going hunky-dory.
So that this is not a national.
I know a lot of people like to say, oh ESPN is trying to best us to get clicks and and discuss discuss where where Yanis can go next.
I mean, I saw an article last night when I got home from my from work and I'm one of the sports sites that I follow talking about ranking the the 29 other NBA teams in order in their likelihood of getting Yanis.
I mean,
Giannis did make an active move there by by by taking you know cleaning off his
his social media outside of the championships.
And he was saying something there.
And, and I, and I don't think it's all just being made up by the ESPN insider shams that there's not going to be a discussion.
And I don't think it's, I don't think it was a coincidence that happened after the most embarrassing loss that you could possibly have in Washington earlier in the week.
And now who knows?
I mean, we have to find out exactly how serious that calf injury is that he suffered last night,
amount of time all this goes to the back burner anyways because you're you're not trading him when he's hurting because you got to make sure that number one you if it gets to the point where they need to trade them you cannot be saying well you honest where would you like to go we're gonna try to do
well by you because you've been great to us.
No, you go out and you make this an auction for as much as you can get to try and rebuild the franchise because that's the only way you can turn it around in a rather quick way.
And there is an outline.
I mean, longtime Bucks fans will recall it was about 50 years ago when they were
put in a position where Kareem Abdul-Jabbar wanted to be traded and they traded them and it did not tank the franchise.
They actually had a really good run for more than a decade after that because they were able to get some really good players.
They got a couple of players whose numbers are in the rafters at Pfizer Forum like Brian Winters and Junior Bridgeman and Dave Myers was part of this trade with the Lakers and a number one pick.
I mean, they were able to, they were able to reload.
So if they get to the point they have to trade
Giannis, you cannot be playing this.
Well, we're gonna try to do well by him.
No, you put you go out there and you try to get as much as you possibly can for them to try to make the transition to the next phase as painless as possible and not be forced to go into a full level tank and they really can't because they've traded so many of their top draft picks over the next handful of years.
So a tank really is not an option because it won't do any good if you don't have any draft picks when they're going to somebody else.
Make the call.
Sports show Saturday mornings from seven to eight on the Civic Media app because you really ought to.
We should.
Your name has been thrown around.
You're on our radar.
Yeah.
Well, not this weekend.
He's going to be out carousing with the hockey
I'm not into sports very often, but I do like listening to Chad Holmes.
He knows how to make it interesting.
Thank you, Ardeth.
That goes right in the file that I will be sending Civic Media Management saying, give that guy a raise.
Let's check in now with Sean O'Malley to talk about your money and the markets, taking that extensive Wall Street career of his coming back home to Wisconsin and sharing with us some of his
the problem with the knowledge though is that you got to have basic statistics to back it all up and that seems to be a problem.
We're going to kick things off with essentially blind folding the Federal Reserve.
Sean, good morning.
How are you?
I thought the the intro song there, Pat, you know, Steely Dan's I'm a fool to do your dirty work.
Yep.
That is the perfect intro for this particular segment because what we're dealing with is
It smells a lot like dirty work.
Yeah, we we know that we had a lack of economic data when the federal government shutdown was on Okay, that made sense.
We understood what was going on and a couple weeks ago, right?
We did have one number come out.
We had non-farm payroll come out We announced it, you know, basically Right after it was announced on your show It was up for September 115,000 jobs But there was an increase in unemployment
Right from 4.3% to 4.4% which kind of goes to show that even if you have an increase in jobs You can also have an increase in the unemployment rate because the replacement rate Which I've been talking about for a while tends to need to be around 150 so 100,000 is is pretty anemic well We're gonna have even less to talk about in terms of economic news because now
the federal government has decided that they are not going to be announcing the October reports for any of the major categories.
So that means non-farm payroll, not for October, unemployment, not for October, and inflation or the consumer price index also will not be announced for October.
and the worst part is that now they've decided to change the calendaring of the announcements for December of the November data So we're skipping October entirely doesn't exist will never exist in the records from an economic data perspective But the November data instead of being announced like non-farm payroll that first Friday
in December?
Oh, no, no, is being moved until after the December 9th and 10th Fed Open Market Committee meeting at which they decide interest rates.
Blind blind, let's maximize our political influence.
I mean, that's what I read about that.
You know, this is dirty work.
We're going to maximize the influence that we can exert on the, you know, Federal Reserve governors politically, and we're going to deny them the data that they would normally have to be able to talk about things in an intelligent way.
And that just enables you to continue to ratchet up the political pressure, just do it the way that we want to do it.
That would be
dirty work enough in and of itself.
Now we have an item about the Secretary of the Treasury essentially playing politics with the withholding that people do with their paychecks.
What is it he's he's suggesting and why do you think it's not such a great idea?
I mean, it's what can we do to increase affordability?
This is again, probably the dumbest way because all you're doing is you're moving it.
And the thing is you're not moving it that far.
But most importantly, you're moving it to April of 2027.
So in other words, after
the midterms in 2026.
Oh,
So people are going to get to April 2027, they haven't withheld enough, because they listened to Scott Besant, the Trump's Treasury Secretary.
And then they're going to get this bill.
But by that point, again, in much like a lot of the Medicaid cuts in the
you know, big boondoggle bill won't happen until after the midterms.
They're trying to push this pain off as well.
There's just so much sleight of hand here from blindfolding the Fed to giving bad advice on withholding.
I mean, honestly, if this administration had a motto, it would be la la la la la.
Not pay attention to the bad stuff right now and push it all off
So, you know, again, put off the pain.
I just don't know that that's going to fly with with a lot of folks.
Sean O'Malley is with us.
We're going to get into some of the payroll numbers for employment as well coming up in just a bit.
And then we're going to be joined after that by Joseph Peckie.
We will talk about Mandela Barnes entry into the governor's race and what that does to the field.
It had all been speculation, but now we're actually at that point.
So
Where does that go with a large democratic field of people who want to succeed Tony Evers as governor?
I'm Pat Crightlow from UpNorth News.
This is the Civic Media Radio Network, back in a minute.
Joseph Becky is coming up in just a bit, 8.35 on this Thursday morning.
I'm Pac Wright, low in Chippewa Falls, and we're talking about your money in the markets with Sean O'Malley right now.
And let's get to the point of some nasty numbers.
I mean, the numbers don't lie when it comes to payroll, but also when it comes to, as people like to say, the vibe about the economy.
Let's start with the payroll numbers, which, again, we're not having some government numbers, but that doesn't mean
There aren't some numbers out there to guide us along the way, right, Sean?
Um, yeah.
So what has sort of been the default proxy for non-farm payroll given its sporadic, uh, announcements, uh, this fall, people are turning to, you know, the large payroll provider ADP for their jobs data.
And, uh, there was an expectation for fairly anemic, uh, 40,000 jobs up reported for November.
Uh, that didn't happen.
Didn't go up at all, in fact, went down, went down 32,000 jobs.
So we are definitely seeing a continuing softening of the labor market in the US, which is never a good thing.
How much of this, I know we talked about this a week or two ago, but I mean, is it, is it, how over simplified?
How much oversimplification is it to say that if it weren't for the AI bubble, that the Trump folks obviously want to stay inflated.
But if it weren't for that, people would be much more aware of how soft all of the other economic numbers are.
Markets up, you know, 15% on the S&P for the year, roughly.
And yeah, you know, you're sitting pretty, no big deal.
Your taxes are probably going down a little bit.
But for the vast majority of Americans, it is not a great situation.
Jobs are being lost.
People are hanging out the jobs that they've got, even though their satisfaction with them is decreasing, because they're so scared about the economic uncertainty.
You have the hit from tariffs, which, even though the Trump administration denies that they're attacks, they're attacks.
And they've basically had to say as much to the Supreme Court in the hearing on the issue.
And you've got a lot of friction in there.
And stagflation is still the big economic mover.
I mean, the latest Gallup poll, which tends to be the most widely accepted and also kind of a little bit more on the conservative side, they don't really do wild swings.
They came out with a very surprising number of 60% disapproval for Trump and 36% approval.
Now, ironically,
But perhaps not surprisingly, those are the exact same numbers for approval and disapproval on the economy.
Yes, I don't know if I've told the follow-up story, but yes, the furnace is working again.
It turns out we found a new technician, a new company, and the guy didn't just look and go, well, I'm not seeing the problem.
Call me back when it repeats itself.
He actually waited.
And he waited almost an hour, but the problem did finally pop up again so he could see exactly what it was.
Replace the part, the furnace is working again.
It's amazing what happens when you get people who are actually, who take service seriously.
And I know that sounds like an old man thing, but I don't feel like it is.
I feel like
Thank you so much.
You know, we'll get to Mandela Barnes on the governor's race, but let's piggyback off of what Sean had to say about public sentiment.
And again, we know in Wisconsin, perhaps more than any place else, being as purple a state as we are, that polling
especially well ahead of an election does not translate and the quintessential example is Ron Johnson.
He has never been anything other than underwater in polling in terms of approval disapproval and yet he has won three different elections so you know the the lesson of course is you know you cannot count your your electoral chickens before they're hatched here but having said all that these numbers forgive the naughty word here but if you're any republican in wisconsin or elsewhere these numbers they
What I often say is polling is noise, election results are signal.
And what we saw this week in Tennessee in a special election in a overwhelming like plus 22 plus 23 Trump district was a 13 point over performance by the Democratic candidate Afton Bain.
And it wasn't a low turnout special election.
In the 2022 election in Tennessee's seventh congressional district, there were 180,000 votes cast.
On Tuesday, there were 179,000 votes cast.
And, you know, so if you are a Republican, whether you are a statewide Republican who won by less than 13 points, or whether you are Brian Stile,
or Derek Van Orden sitting in a congressional district that you won by a lot less than 13 points.
This is a five alarm fire for Republicans.
And it speaks to the broader challenges that the country is facing, the economy is facing, and a failure by Donald Trump and Republicans to do a damn thing about it.
And by the way, things are going to get even worse.
it does not appear that Trump and Republicans have a solve to skyrocketing health care prices.
No.
We have no reason to believe that Donald Trump is all of a sudden going to have the Midas touch when it comes to the economy.
How could we when this week he described the affordability crisis as a Democrat hoax.
And you and I both know because we have worked with people who would be considered more moderate Republicans.
We know what would happen in a in a more normal time is you'd see.
Republicans who want to work on some kind of solution to say, for example, well, we don't want all of the enhanced premium credits for the Affordable Care Act restored, but we're willing to come up a little bit on it because it's hurting people.
But instead, we've got a bunch that will double down and say, we're ignoring your pain because we're right, or at least we're just going to do whatever it is that we want to do.
And right now, Joe,
i'm not seeing any sign in madison or washington that there are republicans who are going you know maybe we shouldn't be joined at the hip with this guy
no they refuse to do it the easiest thing in the world for republicans to do would be to extend the tax credits for a short period of time and then roll out their own health care plan but they don't have one right they've had 16 years and they don't have one
So I loved this little anecdote I saw.
President Trump's pollster was advising congressional Republicans this week that when people complain about rising health care premiums, they should ignore that question and pivot to things they can do to lower drug costs.
It's like, yeah, maybe if you just ignore the problem, American families won't see that their premiums are spiking.
Come
That's but that's it that that that's how this works and They're continuing well, especially in the White House, you know continuing to do whatever it is they want to do and that that includes, you know the The the tone deafness of all of these
pardons that Trump is granting.
And I know people like to say, well, you know, Biden granted a lot of pardons and blah, blah, blah.
Here are the numbers.
I saw this on CNN yesterday.
George W. Bush, 189 pardons.
Barack Obama, 212 pardons.
Trump in his first term, 144 pardons.
You had Joe Biden, 80 pardons.
Trump so far.
more than 1,500 pardons starting with everything about the domestic terrorism that happened on January 6th in the capital of the United States, but now drug kingpins and grifters who rip people off to the tune of over a billion dollars.
I mean, Joe, I think people are kind of figuring out if you elect a convicted criminal as president, he's the one that's going to be opening up the prison gates, not somebody else who's
quote unquote soft on crime this is the ultimate soft on crime
yeah and the raw numbers don't even begin to speak to the corruption of it or the dissonance between we have the united states armed forces committing probably war crimes and extrajudicial killings on the high seas in the name of preventing drugs from reaching america on the one hand and on the other hand
Donald Trump just pardoned someone who is convicted of flooding America's streets with these same drugs.
So it's just, it's a mess.
Was the boat heading to Trinidad or was the boat heading to the US?
There's so much about the story that they can't keep straight because, again, there isn't
anything about them that wants to say, you know, guys, we're going to level up.
We, we, we kind of, you know, didn't get this one right.
And because any, anything like that is a sign of weakness.
When you and I and the voters know better, we actually want to see a little humility
Listen, and
Folks like Derek Van Orden know full well that if you fire on survivors of an attack who are clinging to debris, that is a war crime.
It is literally the textbook example that people in the Navy get and when you get to the level that Mr. Van Orden did in his service,
you get that drilled into your head over and over and over again.
So this story is far from done.
But some people are going to be out of a job
We are seeing it in some little pockets of places.
but I cannot believe a certain Wisconsin Republican or two, Scott Fitzgerald, has served in the military as well, that we're not seeing it from them.
We're talking to Joseph Pecky, and in a bit we will get to the other big topic in Wisconsin politics, and that is what's happening with the Wisconsin governor's race.
Now that former Lieutenant Governor Mandela Barnes is in, along with not just a former Lieutenant Governor, but the current Lieutenant Governor, a state senator, a state representative, a county executive,
former, you know, top state official, and more.
Where's a Democratic voter supposed to go assessing all of this?
We'll talk to Joseph Pecky about that coming up in just a bit.
Tomorrow, of course, we'll have our Week in Review panel as we do every Friday.
I'm Pat Crightlow.
This is the Civic Media Radio Network.
Be sure you sign up for it over at UpNorthNewsWI.com.
Mandela Barnes getting into the governor's race in just a bit.
First, of course, the obligatory hand wringing about the Milwaukee Bucks and the whole, oh, Yannis wants to be traded.
No, Yannis has never said anything about it whatsoever.
You are much more of a fan and follower of this, so this is my check in with you on where you are with all this.
Yep.
So we'll see how that happens.
They play at home against Philadelphia tomorrow.
All right.
Well, we've, we've spent a lot of time, you know, speculating that, you know, will he or won't he, and this week we learned that Mandela Barnes is now in the governor's race.
It is, there are six Democrats all with their various
of experience.
We have kind of been to this rodeo before back in 2017, 2018 with a large field of Democratic candidates.
So again, this is more of a, how are you feeling question, but to you as you look at the field right now and you look at the landscape that's likely to be there in 2026, how do you feel about this field writ large?
Our Democratic candidate cup
runneth over.
Wherever you fall within the Democratic Party, there is somebody for you.
And what I'm a little frustrated by this week is some of what we've seen in terms of the reaction to Mandela Barnes getting into the race.
This is a six pack of really good candidates.
You can find somebody to be for.
And if you don't know who to be for, you can
Find a way to figure out which one you're gonna be for.
You can ask them questions.
You can go see them do the thing.
You can send an email.
There are ways to figure this out.
And then you can go and be for that person.
And that is the way that primaries can really be a good thing, a way to build the party and grow the party.
What we don't need to see are cheap shots and people who either haven't picked a candidate yet.
or have picked a candidate, but think it's fun to dunk on a candidate that they're not supporting, we don't need that.
There's just no place for it.
Mandela Barnes is a guy who got 1.3 million votes in Wisconsin, came closer than any Democrat in America to unseating a Republican incumbent in the United States Senate in 2022.
And he was a really good lieutenant governor, a really good partner to Tony Evers.
Sarah Rodriguez, really good partner to Tony Evers.
David Crowley, running the largest county in the state of Wisconsin.
Missy Hughes, somebody who ran a billion dollar business.
There is someone for you in this race.
So be for your person.
Don't, you know,
For sport, dunk on people you may not be supporting because whoever emerges from this, the day after the primary next August, every Democrat and every person who knows that we can do better than what we're getting out of Trump and Republicans in this country, we're going to have to come together as one team.
And so that's what I think it's important to say this week.
But then if that person comes up short, understand, eyes on the prize.
Yeah, this is where we got to go.
We're talking to Joseph Peckie here.
We started the show with this, with the former Chief Justice of the Wisconsin Supreme Court, conservative justice Annette Ziegler, using essentially a made up quote to
completely changed the meaning of a U.S.
Supreme Court decision as it involves the congressional maps and whether lower courts can get involved in them.
She did then issue kind of a revision but didn't really take back her, I would argue, intentional misinterpretation of what this court did.
It doesn't get a lot of attention because it sounds kind of technical, but
This is a big no-no for a state Supreme Court justice, but it's also very in line with MAGA world of never admitting you're wrong.
Listen, I don't know if this was a mistake from a clerk or if Justice Ziggler herself was actually writing this opinion, but it is, it's a pretty tough look.
And she's been on the bench for a very long time.
So she knows better, I'm gonna, you know, speaking of grace and space, give her the benefit of the doubt that this was not intentional.
And whether it was or wasn't, doesn't matter because she was in the minority.
And now there's a couple of three judge panels that are gonna look at this.
I'm still pretty skeptical that there's gonna be new maps before 2026, but there's no question that
having a 6-2, six Republicans, two Democrats in Congress representing our state, when we are literally the definition of a 50-50 state, it's a little out of whack.
Something's off there.
I only need 30 seconds on this, which is fine, because we're getting back to the governor's race, but the one in Minnesota, because Mike Lindell, the my pillow guy, has filed paperwork to run for governor.
So Joe, we got that working in our favor.
We don't have any wackadoodles quite yet.
Doesn't make the ideas any better, exactly.
Joseph Pecky, thank you very much.
We'll talk to you later.
Have a good one.
All right, thanks to all of our guests today.
Of course, Joe Specky there, Congressman Mark Pocan, Sean O'Malley, Chad Holmes, James Kelly, Sharita Booker, Parker Olson, and to you for being here this morning.
I'm Pat Critello, founding editor of Up North News, part of Courier Newsroom, a pro-democracy news network.
Enjoy the rest of your Thursday.
We'll see you back here tomorrow morning, bright and early 6 a.m.
here up north.
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