The Daily Show: Ears Edition - Bill O’Reilly and Jon Stewart Reunite, Scott Galloway on Boomers Hoarding Wealth | Guest Spotlight

Episode Date: July 21, 2024

Bill O’Reilly and Jon Stewart discuss the aftermath of the Trump assassination attempt, the pervasiveness of anger and hate speech in political rhetoric, and what this means for this year’s election.   Plus, Scott Galloway explains to Ronny Chieng how young people have a right to be enraged for their lack of economic mobility due in large part to the Boomer generation voting for their own economic benefits at everyone else’s expense.  See omnystudio.com/listener for privacy information.

Survivor 47 is here, which means we're bringing you a brand new season of the only official survivor podcast on fire. And this season we are joined by fan favorite and Survivor 46 runner-up, Charlie, Charlie, I'm excited to do this together. Thanks, Jeff. So excited to be here, and I can't wait to bring you inside the mind of a survivor player for season 47. Listen to On Fire the official Survivor podcast starting September 18th wherever you get your podcast. You're listening to the Bail Show, my guest tonight. He is the host of the O'Reilly Update, and he's the author of the forthcoming book, Confronting the President.

Please welcome back to the program Bill O'Reilly, sir. Come on now. Take the time. Take the time. Get up, huh. Take the time. Take the time. Go ahead. Go ahead. Thanks for me. Take your time.

Take your time. William. Yes, sir. we are in such a dangerous moment. You've written books on almost every assassination as you have a whole line of the killing. The killing, the children's series, you're right. About killing presidents, is the time we're in, in your mind, are we in a unique time in American history of polarization? Or as you looked back on those other moments of terrible tragedy in our country, are there similarities or differences? Yeah, it's not unique, but the social media and the corporate media heightened everything.

So- You're saying Lincoln's tweets were not a part of. He had to like get a pigeon and throw them out the window and right. Right. It's limited. But the assassins all have one thing in common. They were all mentally ill. All of them.

And most of them did their terrible deeds because they were in a rage. And you're going to find out that this guy in Pennsylvania fits both of those categories. That has been human nature since they... So do you believe then that the political rhetoric? I mean John Wilkes Booth was clearly a political actor, no, but he was also mentally ill. Well John Wilkes Booth was a fanatical conservative and racist who hated Lincoln. Good thing that's gone out of the country. Well, that's what I'm saying. No, I know. I was saying it too. I'm saying that's right. We were both saying it. No, we're obviously sharing that opinion. We're sympatical. Yes, exactly. Exactly. Don't throw Latin into it. I'm sorry.

So it's not new, right. new, but now in a society where hatred is rewarded. It's incentivized. That's right. And I'm on a, the hate brigade is now pulling back a little bit because they have to, but they're going to be back in two weeks. Because they get paid to do this. They're so untalented. And I going to be back in two weeks because they get paid to do this. They're so untalented. And I want to make this point because Stuart and I have a history, all right, we go back.

But if you watch, if you Google, all right, Stewart and I. Ship's passing in a night. It's really. We are able to disagree without hating each other. Now, I truly hate him. But I don't show it. You hold it very well. Yeah, I don't know. No, absolutely. But now, that's not rewarded.

That kind of detent where two people look at life differently isn't rewarded. The haters get the big money. And so, that's what you have. And I think all Americans start to hold the corporations accountable. You can't do anything about the guys in the basement that are chucking this stuff out,

that you just had it on, these conspiratorial nuts. Can't do anything about that. But you can say to corporations, you better knock this stuff off. You better stop calling people racist and Nazis and this and that. Now your question, and thank you for let me take over the show. Did I have a question? I don't remember. Thank you for let me for me. While you were talking, I was watching, I was watching a different program.

I'm watching South Park rerunctions right. But this one is better, so listen to me. Oh, I'm going to listen to you, but then I have a follow-up to this, which I think is important. Okay, so your question is then, what can people do about this? All right? Reject it. Don't celebrate it. So this kid, 20 years old in Pennsylvania, and we don't know what caused him to do that. We knew he was a miserable kid, who was bullied and all of this stuff. All right, we all know that. But we don't get into, oh he's a Republican. That's the first thing they said on the view. The first thing they said on Monday on the view, there's a Republican.

Stop it. That does nobody any good, all right? But Bill, let me push back a bit. Look, you and I are both somewhat fossilized practitioners of the rhetorical arts that are confrontational at times, provocative at times. And we made a really spectacular living, pushing those envelopes. It seems now to say, hey hey these other people should stop. Hey look. It's like it's like it's like free speech but don't you believe for

let me let me put it this way. Stewart we keep saying like we don't know why these people do it they're all mentally ill but let's stop the rhetoric even though we have no idea, wouldn't it be better to come up with? People can be passionate. People can defend their position and shouldn't we be, shouldn't the argument be, we have to start arguing with each other in good faith. Okay, so Biden made a good point last night in the Lester Holt interview when he said, what am I supposed to do? Not criticize Trump because I feel... He feels it is a threat to our democratic system. I feel he's the third Reich, you know, okay.

You know he didn't say that. But no, but he was thinking it, Stuart, he was thinking, and I can read him. Stop monetizing your anger. So anyway, stop, I don't like it. I don't like it one day. But he made a point where I gotta criticize the guy because I don't believe he's good for American. I believe he's X, Y, and Z. Okay. Criticism is good. Robust debate is good. I like coming on here in front of all of your friends out here. And the audience, you know, I have no friends here. Okay? My friend... friend well not just here we're all I'm giving them that one okay so we have made a nice living yes confronting

other people sometimes making fun of them yes sometimes making fun of them yes sometimes serious debate I'm'm going to do your podcast tomorrow, I'm going to kick your butt. Of course. So, but we don't want to see them, at least I don't, destroyed. That's the difference. The fanatics on the left and the right want to see their opposition destroyed. They want to hurt them. But I've heard a lot about, and even from you,

to be fair, are you? I'm not arguing that point. I think that's a more measured point than you've probably been making and that I've been hearing. Come on. Most of your points from what I've been following is that the left has to take it down a notch. You've mentioned MSNBC. I ran a montage on the no-spin news last night, it's on Bill O'Reilly.com, by the way, four million... By the way, happy. It's big. Log on, it is hard to get on there. It is. It's not hard for the four million people that watch me over the weekend. Yeah, four million? Four million? thiourn't thi. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. th. thi. thi. thi. th. thi. thi. thi. thi. thi. tho. tho. tho. the the tho. thi. th. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. Four. th. th. th. th. th. th. th. th. th. th. th. th. th. th. thi. thi. thi. thi. thi. thi. thi. thi. thi. thi. th. th. th. Thank you. All right. So I ran a montage of haters on the left and the right. OK. I just, and I didn't have to, no, he's terrible.

I just let their words speak for themselves. On the right, and I don't know if you would argue this. There is a feeling that they haven't been doing that and that it is the purview of the left. Okay, there's been a lot of that. People believe what they want to believe, but those of us who are seen and fact-based, right? And that might not be you. We know what reality is because we can see and hear it. But we're no longer agreeing. How can we have a conversation about rhetoric if we can't agree if there are delusions of it's their?? thiiii. th. they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they they that that that that that that that that that that that that that that that that that that that that that that that that that th. th. th. th. th. th. th. th. th. th. they they they they they they they they they they th. th. th. they they th. thi. thi. they they're they're they're they're they're they they they they're they they they they're they're they're they're they they're thi delusions of, it's really only them. I mean, when I watch the guy from the Heritage Foundation say, the revolution will be bloodless if the left, you know, allows that.

And you're just like, what are we doing here? You know, some of the fears of people are justified. Tens of millions of women lost access to reproductive choice based on the decisions of that party. Those are real-life consequences of great gravity and weight. How do we talk about those in a way that, so that you're able to express it. It's not difficult to talk about it and you don't have to see. The mistake that you you made one of the many. Yeah, understood.

You're trying to get the fringe people into be reasonable. You're never going to do that. The Heritage Foundation lead is not the fringe. And when I watch... No, no, no. No, I don't doubt that. Acrimony. They don't want violence. I don't doubt that. Those are the people you play to, not the fringe people who are just out there wanting to,

as I said, destroy the other party. Your candidate. No, I don't have a candidate. Oh, okay. I registered. See, that's what this guy did and the- No, no, no, I understand. This is what you did.

I really did to take a look at this Cornell Westfellow. Right. If you guys watch the rumble in the air condition going to the to-totaum, he did the same thing. Listen to me. Listen to the Yes, I'm listening. The candidate who represents many of your kinfolk. Of men. Kinfolk? He said, yeah. The election was stolen and and rigged. Right. And drove people to this madness on January 6th, how are we to deal with that truly, you know, what is the hallmark of a democracy, peaceful transfer, how are that put that in jeopardy?

That has haunted him every day since. Oh, he's paid a terrible price. No, he has. Can I explain the price? He's going to go back to the White House. If he... have to fix the damage the damage to fix to fix to fix the damage to fix to fix the damage to fix to fix the damage to fix the damage to fix the damage to fix to fix the damage the damage is gonna go back to the White House and if he have to fix the damage himself paint that wall if Trump hadn't done that on January 6th he'd be ahead of Biden by 25 points in the poll I mean that's how bad Biden has been for the country well I disagree with that but that's of course you do but that's okay well I can back it up do you want me to okay okay I mean you want to to do tho that I I I I I I I I I I I I I I I I I I I th I th I I to to to th I I I to th I to to to to to the to the to the to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to the the the the the the the the to the the the the the the the to the the the the the the the the the the the the true the to the to to to to to to to to to to to to to back it up. Do you want me to? Okay I mean I'm gonna ruin your day I'm gonna ruin your day you brought a handkerchief? All right. I was prepared for this. Food prices under Biden up 20% gas prices 38 yeah mortgage rates 160% yeah prices are gone on drug OD's up 36% okay car insurance

125% up these are folks they have to spend that money listen there's no question that post pandemic this country and the world have suffered try had two years of post pandemic right but trump ran an eight trillion dollar deficit he spent 1.7 trillion on tax cuts. He deregulated industry. He cut... One point five percent when he walked out the door. Right, but look at it in relation to the world. I respectfully say, yes, inflation was too high and that hurts American consumers? You want this? So what did Biden do to create that, though?

I don't know, and that's what I would have asked. You know so basically you wrote down a piece of paper but you didn't look up the answer? I I want to I want to need two days on the broadcast I want to ask Biden about that okay so you're saying why are you going to hear it and say? I'm not going to need two days on the broadcast. I want to ask Biden about that. OK. So you're saying, why are the Biden do it? I'm not going to hear it and say. If you don't mind, that was a very poor impression of how I've been saying. Why don't I do it? That's not too easy. Okay.

All right. So my job as a journalist is to say Oh, when did you get that job? Too easy. Too easy. You really make it too easy. We're going to talk to them all. We've got to go. This is too long. Thank you for being here. Confronting the President's comes out.

September 10th, available for pre-order, Bill O'Reilly. John Stewart. to the weekly show about the election economics ingredient to bread ratio on sandwiches Listen to the weekly show with John Stewart wherever you get your podcast the today's NYU professor entrepreneur and best-selling author whose book is called the Algebra of Wealth, a simple formula for financial security. Please welcome Scott Galloway. Thanks for joining me, Professor. Thanks for having me. Algebra of Wealth.

What is the algebra of wealth? So it's retrospective and all the mistakes. No, no, I mean what is the, what is the actual formula? How do you make money? Yes. Now I wanted to insert me into the story, Ronnie. So it's, okay, so the algebra. The first is focus. try and find your talent? How th, how th, th, th, th, to to th, to to to to to the the to the to the the to the to to the the th. Thanks, thi thi, thi, thi, thi, thi, thi, thi, thi thi, thi, thi, thi, the the the the the the the the the the the the the the the the the the the the the the the thi thi, th, th, th, th, th, th, th, th, th, th, th, th, th, th, th, th, th, thi, thi, thi, thi, thi, thi, thi, thi, tha, thanks, thanks, thanks, thanks, thanks, thanks, thanks, thanks, thanks, the a the a the a the a thanks, thanks, thanks, th me into this story, Ronnie. So it's, okay, so the algebra. The first is focus, try and find your talent, not your passion. Anyone who tells you to pursue your passion is already rich.

Find something you're good at in an industry that adds an employment rate above 90%. Side hustles mean your main hustle isn't working, go all in on something. Then you want to talk about stoicism, control the things you can't control, you can control your spending. Okay, this is very complicated. How do I... Why?

How are we doing so far? Why are people poor and who should we blame? That is, whose fault is it that everyone is poor? Is it baby boomers? Is it Bitcoin? Is it the government? Whose fault is it? Yes. That we are poor? Well, I think that every, essentially every fiscal policy in America over the last 20 or 30 years has been nothing but an elegant transfer of wealth from the young to the old.

We transfer one and a half trillion dollars from young people to the wealthiest generation in history, seniors. You can say it, boomers. You can the the the the the the th. Yes, th, boomers, th, th, th, th, th, th, th, th, th, th, th, th, th, thi thi, thi, thi, thi, thi, thi, thi, thi, thi, thi, thi, thoom-foom-foom-is, thoomfoom, thoom, thoom, thi, thi, thi, thi, thi, thi, thi, thi, thi, thi, thi, thi, thi, thi, thi, thi, thi-is, thi-is, thi-is, thi-is, thi-is. thi-is, is i i's is is, thi-s, thooma's thoooooooo-s, thooooooooooooooooooooooooooom an thi, thi, generation in history, seniors. You can say it, boomers. You can say fucking boomers, yeah. The two biggest tax deductions, capital gains, and mortgage interests, who owns homes and stocks, people my age, who makes their money from earnings and rent, people their age. So I think everything we do is nothing but an elegant transfer of wealth from young to old. People call them thi the tho people their thoe tho people tho people tho people tho tho tho tho tho tho tho tho tho tho tho tho tho tho tho tho tho tho tho tho tho thoes tho tho thoes to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to from young to old. People call them entitled, I think they're actually entitled to be enraged.

Wow, okay. I love how, I love how, you, you came in here, you're like, yeah, it's my fault that I'm rich and you're poor, I'm the fuck you, you can't do anything about this. But what can people do about? I mean, first of all, I mean, kudos to, you're, you, you, you, you, you, you, you, you, you, you, you, you, you, you, you're, you're, you're you, you're the first, you're the first, you're the first, you're the first, you're the first, you're the first, you're the first, you're their, you're their, you're their, you're their, you're their, you're their, you're their, you're th. th. th. th. th. th. th. th. th. th. their, you, you, you, you, you, you, you, you, you, you, you, you, you, you, you, you, you, you, you, you, you, you're, you're, you're, you're, you're the the th. th. th. th. thi. thi. thi. th. th th th th th th th th th th th th throoooooo. th th th th th th th th, you know, you're the first boomer I've heard in the last decade to give young people some props, you know? To be like, hey, it's not, because all I've heard for last decade is boomers yelling at millennials or being lazy and eating avocado. So, you know, we're like a refreshing voice here. Look, the average 70-year-old is 72% wealthier than th. their. they. they. th. th. th. th. th. th. th. th. th. th. th. the th. th. the the th. th. th. th. th. th. th. thi. thi. thi-in, the the the the thi-in, the the their their their their their their their their young young young young young young young young young young young young young young young young young young young young young young young young young young young young young young young young young young young young young young young young young young, they. It's, they. It's, they. It's, they. It's, the the the the the the the the the th. th. the th. thi. thi. thee. thee. thee. toeease, toea. B. B. B. toea. toea. B. toea. B. toea. the the the the the thease old is 72% wealthier than they were 40 years ago. The average person under the age of 40 is 24% less wealthy. The child tax credit gets stripped out of the Infrastructure Act, $40 billion, but the $120 billion increase, annual increase in cost of living adjustment for seniors flies right

through. Okay. How's it? So, I mean, I'd like to say, to say, the video. 100%. Just what this guy said. So, I mean, I love to continue making the case against boomers, but I also like to figure out, like, so what can we do about? Yeah, what can we do about? What can you do about? There's a variety of things. Lower taxes on, put more money in the pockets of young people.

Education count up fourfold. That was pretty populous. That was pretty populous. Housing's gone up four acts, education's gone up two X. Meanwhile, minimum wage. If it had just kept productivity, up with productivity inflation would be in 23 bucks an hour, but it's 7.25. We need a series of policies that make it easier for people to get ahead. 60% of people aged 30 to 34 used to have kids. Now it's 27%. They're literally opting out of America.

They look up, they look down, they see prosperity everywhere, and 210 times a day, they get a notification of someone vomiting their foe wealth in their face. It's no accident that we have we are raising a generation of the most obese, anxious, depressed, suicidal generation in history. So... Wait, you're doing so well there with praising the young people. And you took a hard turn, I just wasn't ready for, I'm sorry. Are we good or not?

I was our fault or not. But like, besides being civically engaged and caring about the world, what can a young person do to make money? Well, again, I think it's... Nobody got that one, but it's... Because what you're describing is policies, right? And I think a lot of young people feel disenfranchised and voting and so, besides... agency agency, everyone needs to have a sense of agency. You do have agency.

One, recognize how fast time is going to go. If between the ages of 20 and 30, if you just save 3 to 6 percent of your salary, you're going to end up wealthy by the time you're my age. Recognize the time is going a lot longer than you think. And so just try to develop a savings muscle and put a little bit of money away in case you don't go double platinum or sell a business. Most of us, because our species hasn't lived past 35, most of us, because our species hasn't lived past 35, most of us, because of us, the thirty-augh, to to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, and to, and to, and to, and to, and to, and to, and to, and to, and to, and to, and to, and to, and to to, and to, and to, and to, and to, and to, and to, and to, and to, and to, and to, and, and to, and, and to, and, and, and, and to, and, and to, and to, and to, and, and, and to, and to, and to, and to, and to, and to, and to, and, and, and, and to, and, and, and, and, and to, to, to, to me, to me, to, toe.a.a. toe. toe. toe. toe. toe. toe. toe. toe. toe. And, and to, and to, toe going to be my age. That's why we're so horrified when we look in the mirror past 35. We're just not used to saying.

I'm kind of horrified looking in front of me right now. So you're just you just made my wife your best friend. Anyways, this is essentially start, start early. And so you can save, you can control, control your spending, spend less than you make, develop a savings muscle, and then really lean into your strengths and try and become great at something. And pick a non-vanity industry that has greater than the 90-plus percent employment rate. So your advice, young people, is that the boomers are screwing you over, try to vote people in who can hopefully reverse that a little bit.

Our elected officials are a cross between the golden girls and the walking dead. The average age... But that is true. That is true, but I'm asking you as a person with more experience than me and much more well read on this. Do you feel like this is kind of like the last death grasp of the boomers trying to hold on? And if we just can wait them out another five years we can regain control and balance things out hopefully.

I think that's hopeful but the average age is now the oldest elected populace of any democratic institution. What happens in a democracy if you're not forward-leaning like our ancestors and investment in middle class? Old people have figured out they can vote themselves more money. Does a person, a speaker of the house when she had a first child, Castro had declared, just declared martial law in Cuba, two-thirds of houses did not have a TV. Does she really understand the challenges facing a 25-year-old single mother or a 22-year-old

male who has a lack of economic or romantic prospects? The average age of Americans is 35. We need a representative democracy. We need more young people that will vote for money and make forward-leaning investments. Right. That's right. That's right. That's right.

Man, you just said, then, they're entrenched in in decision-making positions and lowering the capital gains tax. So a net worth essentially compounds you have to you. So you got it. 92%. There's a, there's an incumbency rate of 95% or between 92 and 95% in addition because of gerrymandering, we essentially send to Washington hard right crazies and hard left crazies who have one thing in common and that is they're really old and they keep voting themselves more money. Sure. If we don't start investing in the future, democracy is literally gonna collapse on itself. And we get to these levels of income

inequality, they owe a self-correct through war, famine and revolution. We need to do something about this. But, but, so the solution is find people who speak this language and vote them in, right? That's, it sounds like what you're... We absolutely need a younger electorate, but we also need fiscal policies that do what our previous generations do to invest, invest in the future, an investment in the middle class, technologies. But as someone who speaks, no, I'm sorry to cut you up, but as someone who speaks boomer, when you talk to your fellow boomers and you tell them like you're kind of taking away the things that you benefited from, can we put them back in?

How do you convince these f-old people to do that? The key to progress with those FDR Teddy Roosevelt is having a series of class traders. If you don't make these forward-leaning investments, the reality is people, people, people, you have your world of work, you have your role the friends, you have your role the kids. When something comes off the track with one of your kids, the whole world strings to that kid. So the question is are moving forward. We have lost that sense of comedy of man. One solution I think would help us get back to that is that I think we need mandatory national service such as we can develop more connective tissue and young Americans can meet people from other ethnic groups, other sexual orientation and realize that they can build

something great in the agency of others and not see each other as Republicans, not see each other as Democrats or trans, but see to but see each other's Americans and start making these forward-leaning investments that have made America. Well, as a young person, thank you for trying to look after the next generation. I hope more old people can be like you. I appreciate that. The Algebra wealth is available now, Star Galloway. Explore more shows from the Daily Show podcast universe by searching The Daily Show. Wherever you get your podcasts.

Watch the Daily Show weeknights at 11, 10 Central on Comedy Central and stream full episodes anytime on Fairmount Plus. Paramount Podcasts Survivor 47 is here which means we're bringing you a brand new season of the only official Survivor podcast on fire and this season we are joined by fan favorite and Survivor 46 runner up Charlie Davis to bring you even further inside the action Charlie I'm excited to do this together. Thanks Jeff, so excited to be here and I can't wait to bring you inside the mind of a survivor player for season 47. Listen to On Fire, the official Survivor podcast starting September 18th, wherever you

get your podcast.