Issues And Ideas: News Commentary & Analysis With Chris DeBello May 17 2026

Join us for expert discussions and analysis on today's politics, economy, health news, the Catholic Church sex scandal, investing and investment strategies along with a study of the Bible.
 
(00:00) Ryan Young, Senior Economist with the Competitive Enterprise Institute, gives his analysis of the most recent Consumer Price Index numbers, what they reveal about the U.S. Economy and how the numbers warn of what lies ahead.

(12:22) Dr. Tyler Evans, CEO of the Wellness Equity Alliance, discusses the details about and reactions to the cases of Hantavirus along with the conditions which created these cases.

(23:15) Mark Crawford, NJ State Director of Survivors Network Of Those Abused By Priests, reacts to the proposed victims settlement from the New York Archdiocese and how it protects the church more than heals the victims of sex abuse by priests.

(33:55) Jimmy Lebenthal, CNBC Contributor and Partner/Chief Strategy Officer with Cerity Partners, shares how navigating the NYC subway system provides lessons for investing and developing investment strategies.

(47:28) Chris DeBello looks at how the Bible gives direction about the use of God's Word.

Transcript

SPEAKER_02 0:00

Welcome to which you stand out of the first. Those are some recent comments by Donald Trump regarding the economy and affordability. Now, politics, of course, are one thing. Reality is often quite another. Facts are found in the numerous statistics of a release that addressed the U.S. economy. One of the most telling is the Consumer Price Index, also known as the CPI. It's a statistic released monthly, reveals a general rate of inflation growth from the previous month, as well as inflation rates for specific items and sectors that you might label as oh I know what to do or necessities. This past week, the April CPI was released. And with us to examine what it reveals, it's senior economist with the Competitive Enterprise Institute. Ryan Gunn, thanks for being here again, Ryan.

SPEAKER_07 1:52

Thank you, Chris.

SPEAKER_02 1:53

And to learn more about the focus, the many points of focus of the Competitive Enterprise Institute, their website at CEI.org. So overall, we're looking at the numbers here. Reading off the uh the press release, the all items, and we'll get into for you listing the how these are differentiated. The all items index rose to 3.8% for the 12 months ending April after rising 3.3% for the twelve months ending March. And when you when you look at that number, Ryan, as far as what is desirable versus what is, how close or far off the mark are we?

SPEAKER_07 2:31

We're almost at double the Fed's target. They shoot for an inflation rate of two percent, and we're at 3.8, so that's not good. And most of that has happened in just the last two months since the Iran War started. So the good news from that is that it's not anything the Federal Reserve is doing to purposely devalue the dollar. It's uh mainly energy price increases from the Iran War plus the lingering effects of tariffs.

SPEAKER_02 2:58

I was gonna say it's not limited to energy. If you look at the uh the food and energy, the housing, the uh the out-of-home meals, everything, at least uh with a rare exception, I think produce might have been the only one. Everything else had some tick up to some degree.

SPEAKER_07 3:15

Yeah, food is especially concerning. Um just in the last month, food prices increased 0.5%. And remember, if you're shooting for a two percent annual rate, you generally want that monthly rate to be 0.1 to 0.2%, we're at 0.5. So that is a big increase, whether it's home or food out of home, we're seeing um energy prices affect everything else too. You need energy to ship food. Farmers need oil products or fertilizer. Those things are working their way through supply chains. So we had the immediate shock last month and this month, but as those effects work their way through supply chains, it's actually going to get even worse. So I'm afraid three point eight percent uh might be the lowest we're gonna see for a few months to come.

SPEAKER_02 4:04

I saw some consensus over Congress. I can't remember the source, unfortunately, but they they came to a conclusion that they didn't say it as a certainty, but it's not out of the realm of possibility that five percent could be a hit number.

SPEAKER_07 4:18

It's possible. I'm hoping not. Uh the sh the faster the Iran war ends and uh the more tariff restraint that the president shows, uh the less likely it will be to hit five percent. But yes, that certainly is possible if we continue with bad policy decisions.

SPEAKER_02 4:35

You're asking a lot there, Ryan. Just want to let you know that.

unknown 4:39

Fair.

SPEAKER_02 4:40

And speaking of food, like Ryan was, five of the six major grocery store food group indexes increased. Poultry, fish, yes, eggs. They went increased 1.3% over the month. Index for beef rows 2.7%, fruits and vegetables 1.8%, non-alcoholic beverage index 1.1 percent, even dairy increased 0.8 percent. And you combine that with I saw a report a couple of days ago, the uh the a report on farmland bankruptcies for 2025, that number is going up. So if prices go up and buying gets less, the farming industry, as if they're not already under a strain, that strain is just going to get heavier on them.

SPEAKER_07 5:23

That's right, and beef is the biggest ticket item there. And fortunately, once again, that is a supply and demand issue, not a Federal Reserve messing with the dollar itself issue. Uh there's a big shortage in herds right now, and it's it takes time for cattle to reproduce, so that one's gonna be with us for a bit. But 2.9%. Keep in mind that's not year over year, that's in one month, where usually we want to see 0.1, 0.2 percent. 2.9% in one month is evidence of a major shortage. So hopefully uh the cattle are are feckin' this year and and herd size uh replenishes quickly, but otherwise that is pretty harsh for farmers.

SPEAKER_02 6:05

And we so much of one feed into another sector uh cost of diesel means higher delivery cost to get the produce to the stores. Uh and energy seems to be the end all uh blame all, but as the report itself shows, th there's widespread inflation in this. And to to put it all just on energy prices, what is how serious is that overlooking what the true cause of all this is?

SPEAKER_07 6:33

It's very serious. Energy ties into everything. Elect factories need electricity to run, cars need gas, which affects shipping. If you do international shipping v whether it's via boat or via plane, that needs energy. If you're gonna do business travel or take vacations, which affects tourism, that requires jet fuel. Everything requires energy. So that is a big deal that's happening right now. We're hopefully past the worst of the energy spike. What I'm worried is that prices are not gonna go back down. I'm worried that they're gonna sustain themselves at that really high level, and that can have a slowdown effect on the rest of the economy, and the longer it stays like that, the worse it's gonna be.

SPEAKER_02 7:31

I mean, walk into a steakhouse where you thought, okay, uh it's a little pricey, but I could deal with a$30 steak dinner. Try finding that$30 steak dinner now. You're uh it'll be challenging. I'll give you I'll I'll give you a head uh a heads up on that. Talk with Ryan Young, who is senior economist with the Competitive Enterprise Institute. C E CEI.org is their website. And you are listening to issues and ideas. I mentioned that the the CPI report has certain designations. What's the difference between the CPI number and the CPIU number? That's the all-urban consumers number.

SPEAKER_07 8:08

That is uh the all-encompassing number with everything. Uh the CPI uses a basket of goods uh approach. What do people buy? So they'll say people spend uh use this much of their budget on housing, this much on food and clothing and all the rest. Uh CP general CPI and CPIU use different baskets of goods. Uh you know, people in cities live differently than than other people do, so that's that's the main difference.

SPEAKER_02 8:34

And uh unless you've seen the report listening, uh the numbers of both of those classifications went up, so that one was not doing any better than the other. And we we were talking just a second ago about what lies ahead. Is there any cause for concern when you look at the the producer price index, which also came out this past week, be because that showed maybe even more of a shocking jump than the CPI did.

SPEAKER_07 8:59

Yeah, the PPI was brutal, and that is a leading indicator, which means it's a sign of things to come. Uh we were obviously we're set over CPI going up 0.6% in April and 0.9% the month before that. Again, we want it to look at like 0.1, 0.2. Producer price index, we want the same level, but it was at 1.4, 14 times the target level. And that is that's what's happening at the wholesale level, that's what's happening further down supply chains. That shock is going to work its way through to consumers over the next few months. So when you see a big bump in the producer price index like that, you know higher inflation's on the way because it'll take some time for it to work its way down to the consumer level.

SPEAKER_02 9:45

We mentioned the the war in Iran several times now, and equally maybe even mentioned more is well, as soon as the war is over, everything will go back to the way it was. We were doing 1.8, 1.9% before all this happened. How realistic is that to expect a market structure to readjust itself with any kind of rapid speed?

SPEAKER_07 10:10

It'll take time. We'll s we'll see stock market prices go up and down. The Federal Reserve meets every six weeks to adjust interest rates, and with the regime change with Kevin Warsh now uh in office as the Federal Reserve Chair, um they'll adjust as best they can, but it's going to take some time and there's a lot of uncertainty ahead. So it's not just in the government level, but also with businesses as well. What do you do with investing when you don't know what your costs are gonna be in six months?

SPEAKER_02 10:37

And this is be a certain pr be a pr pretty heavy first test for Chairman Warsh because his testimony in front of his confirmation committee was the Fed is gonna be independent, we're gonna look at situations. He wouldn't say whether he's devoted to raising or cutting rates. He said pretty much. We'll look at what the situation is and respond accordingly. The belief is that he's gonna do what the president wants. What if he does that and does cut rates in light of what we have right now in the current situation? How much would that add to the to the weight on the economy?

SPEAKER_07 11:12

I could have quite a bit of inflation. The president wants lower interest rates because he loves stimulus and easy money, which is nice. The economy is showing some trouble signs, stimulus wouldn't hurt, but there's a trade-off to doing that, and that trade-off is higher inflation. Stimulus now means inflation later, and that is not a trade-off that most of the rest of the Federal Reserve's Board of Governors wants to take. So now that Kevin Walsh is in, he doesn't have to say nice things about the president like he did in a confirmation hearing when the president can still yank his nomination.

SPEAKER_01 11:45

Yeah.

SPEAKER_02 11:46

Um hopefully he will uh be as independent as his predecessor was.org. Here's our senior economist, Ryan Young. Ryan, thanks for helping us appreciate more about what these numbers mean, what they foretell, and uh fuel the voter and arm the voter with uh information that they can call out their elected leaders with to straighten this situation out. Thanks for being here today.

SPEAKER_07 12:21

Thank you.

SPEAKER_02 12:22

The news reports about the cases of the hantivirus have so far occurred, have painted what some call a let's call it a concerning picture. Cases happen where a lot of people are together in limited space, like a cruise ship, people diagnosed with the hantivirus or replaced in isolation. This has caused some to say, oh no, here we go again. Are we actually watching the birth of a new pandemic, or is what's happened so far revealing that preparation policies regarding basic health issues, even like the hantivirus, need to be better followed? Next guest joins us to discuss all this. He's the former Chief Medical Officer for New York City's COVID 19 response, who's now CEO of Wellness Equity Alliance, Dr. Tyler Evans. How are you today, Doctor?

SPEAKER_06 13:07

I'm well.

SPEAKER_02 13:08

Thank you for coming back here. Wellness EquityAlliance.com. Learn more about the doctor's organization. Just for basics in the foundation, Doctor, what are the specifics, what are the elements of the of the hantavirus?

SPEAKER_06 13:24

So uh so hantavirus is a uh pathogen that's typically spread through uh spread through rodent um excrements, and uh we'll see sort of episodic outbreaks taking place in um uh throughout the Americas. Uh in the United States, it's usually in the western U.S. Uh there's been uh a few outbreaks uh in California around uh particularly around Yosemite again, given the sort of uh wild uh rodents that are around there. Um typically what it in in terms of what it causes, it'll cause a uh mild symptoms. Uh you'll get your sort of uh viral prodrome or sort of upper respiratory um infection-like symptoms. Um but again, they're typically sort of mild. Uh very, very rarely uh will it spread uh or will sort of um advance into uh what's called the um hemorrhagic fever uh with renal involvement or kidney involvement or the pulmonary uh syndrome, hotovirus pulmonary syndrome. Um so that's either kidneys or lungs, but again, that's sort of very uh very rare. This particular situation uh that had taken place with the uh with the passengers uh was quite different, but I could pause there if there's any more questions.

SPEAKER_02 14:43

So it's just a matter of the the the ship that these people were on just wasn't clean, sanitary. That was the main catalyst that they they didn't see a rat problem, didn't uh get an exterminator in. Is it really as simple as that?

SPEAKER_06 14:56

No, I I I I we what we think was happening here was the um uh you know uh a few of them were infected prior to boarding. Um there was a uh a bird watching uh tour. They were down in the uh down in South America, and uh they uh embarked around Ushuaia. Ushuaia is at the the tip of uh South American Patagonia, I actually uh honeymooned there. Um and uh and so in that particular area there's uh there's this specific strain called the Andes virus, which is uh which is one of the only known um strains that can actually cause the person-to-person transmission. So what we believe happened was they were on this sort of bird watching tour, they could have been uh infected through some sort of um some rodents that were around the the birds and um and then ultimately boarded the ship. Uh whether or not they were symptomatic at the time is not clear. Um, but the reality is, and I'll just kind of jump into this, the reality is cruise ships are uh one of the one of the most formidable public health challenges that that we uh that we experience. Uh when you think about cruise ships, they're pretty much um just sort of floating petri dishes, uh and and specifically floating uh congregate facilities, which makes it even more challenging. So you've got, you know, in and w when it when it came to the um Hambias, you've got you know only 150 folks, but you know, typically on these on the on the princess uh or the uh um carnival fleets you've got you know thousands, upwards of six, seven thousand people. And they're all in very sort of close borders. Um and so when you have any uh any infection taking place, norovirus is very, very common uh in these places. You know, it's very easy to transmit that. Uh once in a while you'll get some upper respiratory infection, uh flu-like and or or specifically flu uh outbreaks taking place in these uh in these uh petri dishes as well. The reality is there's no there's no screening uh modalities uh at all. And in terms of response, it's very uh, you know, you at best you'll have a doctor on board. The sort of qualifications of those doctors are not really sort of standardized. Um, you know, and in terms of the sort of the diagnostics and the um and the treatment sort of modalities that they have are going to be very limited to the same thing.

SPEAKER_02 17:24

Well, sure. I mean, when you think about it too, I mean, there's one doctor on a ship, the the the doctor-to-patient ratio, not saying that every patient, every person, every passenger is going to get sick, but the doctor-person ratio uh quite steep odds for any medical professional, no matter no matter what their experience is.

SPEAKER_06 17:39

Exactly. And then uh, you know, it's very it's very hit or miss in terms of sort of what what the connection to that that doc or that medical provider will have to some sort of other group. You know, one doctor alone, um, to your point for thousands of people, is you know, it's not it's not really that sort of effective. Um can that person sort of radio in if that person has questions, et cetera? Um you know, I mean, this is infectious disease, not not many doctors are actually trained well in infectious diseases. So uh so there's a lot of pieces here that we could sort of, I I think it's an opportunity to really shore up um some better best practice here. Um and um, you know, I'm I'm I I don't think my recommendation would be to sort of force uh requirements, but I think they would be my sort of recommendation would be to uh impose you know recommendations for um for folks coming in. Uh if if uh passengers are going into you know certain areas, they should be well aware of you know any sort of um emerging or existing sort of challenges, uh prevalence of certain diseases. You also have to think, too, that um a lot of um a lot of passengers are older adults. Uh I don't know what the mean age of uh of cruise ships are, it's an interesting question, but it's I would suspect it's probably in the in the 50s. Um, you know, typically you'll you'll see uh uh cruise ships, particularly in places like Alaska, well, you'll have 65 and older is very common. And so, you know, the older the older that we get, the higher our risk of um of illness. And so we have a lot of folks coming in with comorbidities. It's just basically doctor talked for a lot of different uh sicknesses or illnesses, and that's going to cause sort of waning immunity as well. So when that takes place, then your risk of infection um ends your uh your risk of sort of um you know further advancement of disease is going to be uh much greater. So we really have to take care of our uh of our older adults. So I you know strongly recommend the cruise ship industry to start sort of changing their uh their methods there. Last thing I'll say too is when you think about cruise ships, they are going through ports of entry around the world. So it's just a kaleidoscope of microbes that could potentially sort of enter these these vessels. And and and a big part is the crew. I I was the uh I was the only infectious disease specialist at the time that uh that was helping to um to demobilize and sort of screen and and isolate and quarantine the uh Grand Princess in early 2020, um, which was docked in Oakland. And I I like to theatrically refer to it as the last cruise ship on Earth. And uh and and about a third of them were uh were were uh were crew and South Asians, uh particularly uh Indian Pakasanis, Filipinos. And so we we had to uh transport a lot of them to UCSF. They were unaware of the sort of the American you know medical system, there were a lot of challenges there. Um they they you know mostly have not had any sort of screening uh practices as well. So there's a lot more that I think we can shore up. I'll pause there.

SPEAKER_02 20:43

Well, just to wrap it up too, I mean, the idea you have of having stronger health requirements and healthcare requirements on ships is is an obvious path that needs to be taken. But given that there's literally a jigsaw puzzle of the the the ships and what they're what nations they're flagged on, how how would you have some sort of uniformity in all that?

SPEAKER_06 21:02

Yeah, I mean, so there bet there needs to be better coordination between uh between these different uh the different countries that they are um that they are sort of touching and uh and sort of the the the the sort of you know the origin of uh of the vessel, whether that's American or whatnot. Um you know, there are um centers for disease control across the world. Uh there's the European CDC, of course there's our CDC, the Chinese has their own. Um and uh then of course you have the WHO. So if we if we really short up better practice um in terms of coordination, um, you know, we could ultimately sort of create our own sort of you know cruise ship surveillance um uh system uh where again there's there's uh there's ongoing sort of coordination discussions of sort of what's happening. And but just better preparedness. We refer to it as public health emergency preparedness. Um that is it's pretty Pretty tenuous throughout the world. WHO kind of looks at it at a very sort of macro level. It's not very uh it's not very sort of uh tight in terms of operations, it's very it's very sort of you know 30,000-foot view or um some other sort of uh ship metaphor. And uh and then CDC given a lot of the challenges that have taken place with the CDC and and the lack of uh leadership now, uh we're experiencing quite a bit of uh of uh stressors uh there. So we've got a lot of problems when it comes to public health, uh, but we're really hoping that you know to opportunities like this that we can sort of uh improve um our uh our our systems in place.

SPEAKER_02 22:41

Yeah, definitely respond to the wake-up call as opposed to react to it if in the aftermath. He's the former chief medical officer for New York City's COVID-19 response and now CEO of Wellness Equity Alliance. Learn more about the work that they do at Wellness EquityAlliance.com. Dr. Tyler Evans, thanks for the insight and the direction of what better things could be done to keep anything like this from not just spreading but from happening in the first place. Thanks for being here today.

SPEAKER_06 23:07

I appreciate your time. Thank you.

SPEAKER_02 23:09

If you're listening to us via your favorite podcast platform, don't forget to subscribe and follow. How frustrating is it when you think somebody finally understands a situation which requires them only to have them reveal that they just still don't get it? This can be said of the Catholic Church in America for years. Archdiocese across the nation denied victims who were raped by priests, gave cover to those child predators, and dragged court cases out for as long as they possibly could. However, as we well know, the victims refused to fall into silence. That finally led to settlements across the nation and admissions of wrongdoing by these archdioceses. Big question that had been hanging out there was what would the New York Archdiocese wind up admitting and doing? Well, the answer finally arrived, and it revealed that the New York Archdiocese wants things to be more beneficial for them rather than for the victims. Here to discuss what the New York Archdiocese is proposing, ramifications that could have for victims nationwide, is the New Jersey State Director of Survivors Network of those abused by priests, Mark Crawford. Thanks for being back here today, Mark.

SPEAKER_05 24:20

Thank you again, Chris. Yes.

SPEAKER_02 24:22

And learn more about uh Snap at Snapnetwork.org. There are chapters in every state, and you can keep up to date too with the various agreements, confessions, admissions, and well, like we're seeing here, Mark, the challenges. Talk about this this uh proposal for settlement that the New York Archdiocese has placed forward and what troubles victims such as yourself about it.

SPEAKER_05 24:49

Certainly, yes. Uh at the surface, it sounds wonderful. We're gonna hear it's the largest settlement ever offered, eight hundred million dollars, and um they've also promised to reveal uh or release records of those accused. However, there is one serious, immoral, dangerous caveat. They're also requiring all thirteen hundred claimants to unanimously accept the deal. That means if just one uh refuses to go along the deal is dead. Now and on top of that, they have been mentioning, well, if this doesn't work, we're gonna have to go the route of bankruptcy. Bankruptcy of course would add many more years. It's already been uh many years, uh, that they've been uh the the victims fighting this battle with the Archdiocese of New York. And again, um bankruptcy would likely give them even less of a payout, right? And uh it would take many more years and the ch the diocese itself would wind up paying many more millions to their bankruptcy lawyers.

SPEAKER_02 26:08

However, now here's the crazy part, we'll stop you right there. The the New York Arts Diocese is threatening bankruptcy if you look at their assets, just in real estate alone, how can any bankruptcy court take that serious?

SPEAKER_05 26:21

Oh, I totally agree. In fact, the vast majority of the money from this settlement comes from the sale of a singular property on Madison Avenue, uh, that was consummated fairly recently for upwards of five hundred million dollars. So this is just one property in Manhattan where the majority of this money will come from. Um, so yes, agreed. I I don't know how they really think that um they're gonna go down that road. So the process they're proposing mimics a bankruptcy in many ways, but of course there's no judicial oversight. There's no judicial rules, there's no discovery, there's no releasing of assets. So it seems like a bankruptcy kind of offer, yet it's totally outside at this point the judicial system. So you know, they they've proposed and said, Look, here's the here's the carrot they're dangling, eight hundred million dollars, you won't have to wait long. Um, you can immediately get two hundred and fifty thousand dollars if you don't wanna wait. So that's an easy one for them, right? No brainer. It is actually a win win for them and a lose lose for the victims. And what I mean by that is that look, they if if it doesn't work and it's not likely all thirteen hundred survivors are going to wanna go down this road but let's just say one of 'em does not. Can you imagine the psychological pressure or possibly even active pressure or intimidation from the other survivors who really would like to settle. Um so it pits survivor against survivor. And that fact alone to me makes this in a moral type of demand or uh offer. Uh it is just even in bankruptcy court, never, never has there been in any bankruptcy, not the Boy Scouts of America, not the USA gymnastics, not any of the other diocese, did a bankruptcy court require one hundred percent consent because that creates a power structure that's either beneficial to one individual or to the institution seeking that uh clause. So uh it is a horrible, horrible offer. And now look, the it really puts the victims back in in the very place they were where they had no leverage, no control. The church held all the cards and we're right back there again. It's it's further abuse of these survivors from an institution that constantly claims openly we want to heal them, we want to do the right thing. No. What they're doing is forcing a model of coercion. And the problem with that is if it is successful, do you not think any other institution, not just those in the church, whether it be schools, colleges, universities, athletic organizations where there's a group of victims, do you not see them wanting to pursue the same type of avenue? This would set in a horrible, immoral precedent. And it's unacceptable.

SPEAKER_02 30:03

And and what the church is doing, what the Arts Dynasty of New York is doing, they're basically trying to divide and conquer so that they can have the victims, like you said, fighting against themselves, and the church can say, hey, we tried. And you know, add to all this what you said, Mark, the clock is ticking. The deadline for this is June 27th. That's not a lot of time for all these victims. I know there's one attorney who's representing 300 of the 1,300, but uh I would wager to bet that even he's trying to even he's having a challenging time trying to get unanimity among the 300 uh that he represents.

SPEAKER_05 30:40

Without a doubt. Um it's a real hard road to road to hoe, and and I I gotta tell you, um, look, they could take like I said, you know, the the when what's the person gonna say? Well, we tried. Well, we tried, we put the best offer forward. No. Um the new Archbishop of New York, uh Archbishop Hicks, should absolutely rescind this clause. Look, even if you ask for a supermajority, which happens in bankruptcy cases, they probably would still get it. What they're really trying to ensure is that not a single case gets before the court. One, because they know any type of a word in some of these most egregious cases are going to be exceptionally larger than any offer, any single one of these victims will get under the current uh offer. And they don't want others to see that because of course that's just gonna build resentment, right? And uh at the very least. Um I I just it's it's uh a really negative immoral type of position to try and put these victims in. The victims that they had a part in creating, that they i it's just incredible to me that um people don't see through this. I hopefully they do. But I'm very concerned because not just in New York, settlements with various dioceses and other organizations are ongoing in New Jersey and throughout this country. And if this is successful and one of the most affluent archdiocese in the world, then what's to stop anybody else from trying to make the same offer? And it's just not gonna fly here in New Jersey. I've heard from countless victims here in New Jersey who said that better not happen here. There's no way. I I don't w I want to have my day in court. So I am fairly certain there's at least some of those in York that probably feel the same way.

SPEAKER_02 32:51

No doubt. And it's also part of the strategy of the Archdiocese. They they they put on the table the document release that they have to release secret documents about historical reports and how those who raped children, the priests and the and the bishops were were handled internally. How many how many people actually believe that? Because it sounds like you know how many how what have we seen the Epstein files? Have we seen the JFK files? Have we seen the UFO files? We get these promises, these little carrots hung before us, and too many people fall prey to those carrots, and they're they're fake carrots, not even real ones.

SPEAKER_05 33:28

Absolutely. I'm glad you mentioned it because I feel that very way, and I know many others do, we have seen for decades them not produce handover documents, even when court ordered. In fact, right now there's two other cases I can think of where this very issue is playing out. Seton Hall University, where uh, you know, uh a most prominent Catholic institution headed up. Now the head of the Board of Regents is always the local archbishop, in this case Cardinal Tobin. They've they commissioned a report. They're still fighting to this day. And in fact, yesterday morning there was a hearing on the release of the documents, and they're claiming that they should not be released because it's attorney client privilege. The the uh law firm that actually conducted the investigation stated in the report they had no relationship with Seton Hall, no legal this is not under a lawsuit. This was an investigation commissioned by the Archbishop to look into McCarrick's influence at the seminary at Seton Hall. And of course, there's a twenty thousand page report that's quite damning from what we understand. I have not yet seen it. Um but um we've heard reports in the press about aspects of that report and it's clear to this to this day, even though the the cardinal himself said he wants it all out, he wants it all exposed, he's gonna let anybody come forward. They stopped the very person who knows the former president of Stephen Hall from from uh testifying or talking to the committee that's doing the investigation. They don't want the truth out, they don't want to know keep it hidden. They're fighting to this day.

SPEAKER_02 35:27

Mark wrote a great column that summarizes all that we talked about here, too. You can find that and a lot more information at the website for the Survivors Network of Those Abused by Priest at Snapnetwork.org. He is the New Jersey State Director of Survivors Network of Those Abused by Priest, Mark Crawford. Mark, you are indeed a devoted, dedicated advocate to the victims, and you help us understand too why we need to be as well. Thanks for being here today.

SPEAKER_05 35:52

Thank you again, Chris.

SPEAKER_02 35:54

Uh question. You ever ride the subway? Not any on the city. Experience can certainly vary. Some systems perform better than others. There's more route and schedule information available with some more than others. While they can all get you to where you need to go, the times can vary. Sounds a lot like investing in business relationships, doesn't it? My next guest thought still, he believed it so much. He's written a book based on this idea. His story is one of growing up in New York City, learning underground on the subway, then later above ground on Wall Street and boardrooms. Shares his story and investing insight in his book, How to Ride the Subway, getting around on Wall Street and in life, along with being Chief Strategy Officer and partner with Serraty Partners. He's a frequent CNBC contributor, and a true subway collegist, Jimmy Laventhor. How are you today, sir?

SPEAKER_08 36:44

Oh, I'm great, Chris. And I really have to thank you for kindly introducing the book that way. I may have to record that and use that myself. That was so well done.

SPEAKER_02 36:53

Well, you know, I I actually read the book. I'm one of those odd people, so it's like and to learn more about not just Jimmy's book, but his entire financial world, Jimmy Labenthal.com, Serity Partners, C-E-R-I-T-Y, TerrityPartners.com. We have those links over at our webpage. I have seen investing compared to a lot of things, from cheese to animals to several points beyond that. What was your aha moment when you connected subways and everything you need for strategy down there with Wall Street and the strategies you need up there?

SPEAKER_08 37:30

Great question, Chris. And you know, the reason to write the book is that I frequently appear on TV as an investor and somebody who gives commentary on the markets. What I find is that when I speak, I have about 15 seconds to get my ideas out before the anchor cuts me off or my fellow contributors start chiming in. So I wanted to write a book so I could give a little more long format to how I invest. But just giving a book or just writing a book about investing would have been a little bit boring. And the simple truth is I absolutely love the subways, and I use the subway in New York City to get to the studio, which is the New York Stock Exchange, for the uh airing of the CNBC show that I'm on. And it was just while I was on the subway, I said, why don't I use my passion, my love for the subways, which goes back to age six in the 1970s. Uh why don't I use that as a metaphor for investing to spice things up a little bit instead of just talking about dividend stocks or how the markets move, just put some metaphors from the subway in it. And I I I hope it works. I'm happy I did it.

SPEAKER_02 38:36

Well, I think you should be too because it'll teach the novices, give a, I think, a more focused direction to those who are wandering. And for those who are like to think of themselves as experienced investors, it just reinforces a lot of basic ideas and even reminds us. Like, for example, you start off about knowing where you're going, because if you don't know where you're going to go, how do you know what you're going to need in order to get there? What are you going to invest in if you don't know where you're going to go?

SPEAKER_08 39:05

Well, that's exactly right. And uh again, the metaphor of the New York City subway system, at least in Manhattan, is that it's very oriented along north-south axes. So most of the subway lines come down either the west side or the east side or midtown. There's very few cross Manhattan uh subway lines. There is the shuttle, but not much more than that. And so if you're trying to get uh from the upper west side to the upper east side, hey, guess what? The subway is not your spot. And in a similar way, if you're trying to make money, then maybe you don't want to take risks. Well, you know what? The equity market is not your speed. You should be in the bond market. It's just and I use that's a great example, Chris, of the metaphor that I use. You know, other metaphors that frame the chapters in the book include things like patience. The subway will arrive, it will get you where you need to go. So will the stock market, uh, perseverance. Probably my favorite, though, is serendipity, of just being aware that the world does move in in random collisions that tend to work out for your benefit. And so sometimes you can be on the subway and you can see a crazy sight. And I use in the book the example of an underground uh rail yard in Upper Manhattan that uh I came across one day. And it's just a way of exploring and finding new things, finding better things, which the stock market always gives you an opportunity to find really exciting, good new ways to make money.

SPEAKER_02 40:32

And there are running things you have going throughout uh your book as well, as far as you think you figured it out, you think this is going to work, everything's gonna be perfect, you know this is the thing. It's not always gonna be that way, is it?

SPEAKER_08 40:45

Listen, that's a good that's a great uh that forms a chapter. I think the the name of the chapter is Bad Things Happen. And I use as the uh entering anecdote to that chapter, when Superstorm Sandy hit New York City, I think it was 2013, uh it it was just a perfect strike on the harbor of New York City, and it caused a storm surge where basically lower Manhattan was about 10 feet underwater. Well, you know, water flows to the lowest spot, and the lowest spot are the subway systems and the tunnels that go underneath the East River. So the subway system was inundated, it was flooded, it was basically out of service for a couple of days, and in some cases there was maintenance that went on for years to repair the damage. Look, sometimes in the stock market, bad things happen. Um, we can look at the last 18 months or so and see that we've had a very dramatic decline when the war with Iran started, we had a dramatic decline uh when the tariffs were announced on Liberation Day in 2025. But, but the subway system is still here, and the stock market is still a great place to make money. As we can see right now, Chris, as you and I are talking, we're at all-time highs in the stock market. It's just a matter of bearing down, having the grit to get through the bad times, which will inevitably happen. Can't be avoided.

SPEAKER_02 42:04

Jimmy Labenthal and his book, How to Ride the Subway, getting along on Wall Street and in life, Jimmy Labenthal.com. He's a partner, Chief Strategy Officer with Territory Partners, Territipartners.com, both links, of course, at our homepage and you're listening to issues and ideas. Question on for the purpose of the novice or the newbie. You can hear of a stock, see a company, maybe you're you or someone else on CNBC talking about it. You punch in the the ticker symbol in Google and stock rating. You will get inundated with information, and it could be confused. You can have 25 analysts saying strong buy, buy, get this now before it's too late, and there'll be one analyst saying, sell it now. How does the novice try to decipher things like that?

SPEAKER_08 42:51

I think there's really two ways of doing this. You can hire a professional uh like myself uh to pick the stocks for you, or you can do what I do, which is what I recommend in the book, which is to really dive deep and become an expert in the stock that you're looking at. Um specifically, what I mean by this is getting into the financial statements, looking at the footnotes to those financial statements, figuring out what you can find out that the rest of the world doesn't know. And again, with this analogy that goes throughout the book, um, I draw it back to the subway system. Many people ride the subway underneath the East River every day. This is probably a hundred thousand or more. And those tunnels are fabulous constructions of engineering. In fact, the first tunnel, subway tunnel under the East River, was longer than the Holland Tunnel under the Hudson River when it opened in the early 20th century. When the Holland Tunnel opened for vehicular traffic, uh the president of the United States called and inaugurated it. It was a big fanfare, all the newspapers talked about it. Nobody talked about the subway tunnel that was created years earlier. And that was longer and still to this day, as I said, transports over a hundred thousand people through it. That what I'm describing there, yeah, it may be a little bit geeky, but that's the sort of expertise, that's the sort of level of knowledge that if you want to be a stock picker, you really should do. You should get into those financial statements. And not just for the company you're looking at, but its competitors, maybe even its suppliers or customers. Um so that's that's that's my advice to the novice is get your hands dirty, really become an expert in it.

SPEAKER_02 44:33

And you certainly, there's enough material by which you can everyone can do that, and it's a learning experience to be sure, but it's for your benefit to indeed learn valid information. Why don't you wrap up with this idea? You mentioned here you certainly make yourself uh show yourself to be a proponent of it throughout your book. Long-term, holding long-term. I I said one time to a friend of mine, are you a long-term holder? Said, yeah, I might hold a stock for up to two weeks sometimes. I mean, you you j especially if it's a dividend stock, why would you be anything else but a long-term holder?

SPEAKER_08 45:06

Well, I you know, two each their own. I love the subways. Some people think the subways are dirty and smelly and they don't want to go in them. That's fine. Uh, those people can be traders. But the beauty about long-term investing is if you just stick with the stock market, and in particular, stick with high-quality stocks, the names you know, the best companies in each industry, you can feel very comfortable that they will get you through thick and thin. Now, there's going to be times like we're in right now where the stock market's been rallying for four years and everything seems easy. But being in those quality stocks, even through the downturn, is the way that you can actually make money coming on the other side of a downturn when those companies thrive as their competitors sometimes have been hobbled uh by the tough business conditions of, say, a recession. So for me, the biggest thing, bar none, is to stay in the market for as long as you can, and I mean years and years, decades. Um, I think, Chris, quite often about uh what is the biggest value that I add to my clients? And it is frankly holding their hands when the stock market looks a little tricky, like we were just talking about last year Liberation Day or this year with the war in Iran, and just reminding them that we've made money over the decades and we're likely to do so in the decades to come.

SPEAKER_02 46:26

Yeah, without a doubt, a quality stock is a quality stock even in a down period, and those down periods last a lot shorter when it is indeed that quality stock. This is a great book for investors of all levels, as well as if you want some guidance for life in general, because what Jimmy writes about can certainly be expanded into whatever your specific career is, whatever your business relationships are. You'll find it very quickly to understand as well. How to ride the subway, getting around on Wall Street and in life. Learn more about Jimmy Labenthal at Jimmy Labenthal.com. He's also Chief Strategy Officer, partner with Sarah T Partners, Sara T-C-E-R-I-T-Y Partners.com, both those links at our homepage. Jimmy, thank you for an education and a fun ride through the subways, no pun intended, and the history because you make it understandable and everyone can appreciate the ideas that you're communicating and benefit from them. Thanks for being here today.

SPEAKER_08 47:19

Chris, I really thank you. You've been such a gracious host, and thank you for giving me the opportunity to dive a little deeper into this book with you. I really appreciate it.

SPEAKER_02 47:27

Reading from Jeremiah chapter twenty nine, verse eleven, for I know the thoughts that I think toward you, says the Lord, thoughts of peace and not of evil, to give you a future and a hope. Paul and Ephesians chapter two verse ten reveals this to us, for we are his workmanship created in Christ Jesus for good works, which God prepared beforehand, that we should walk in them. Additionally, in Romans chapter eight, verse twenty eight, we're told this truth, and we know that all things work together for good to those who love God, to those who are the called according to his purpose. These are just a few of the verses we find in the Bible that brings us to an understanding of God's plan for us. Those verses supply us with the what's the question is who will lead us in living and receiving from God's plan? It's Jesus who says in John chapter four, verse thirty four, Jesus said to them, My food is to do the will of him who sent me and to finish his work. While we eagerly await for the return of our Lord and Savior, God has blessed us with someone to serve as a living example of God's plan, who is indeed his workmanship. That blessing is Donald Trump. Romans chapter thirteen verse one makes this crystal clear, let every soul be subject to the governing authorities, for there is no authority except from God, and the authorities that exist are appointed by God. And when you read Daniel chapter two, verse twenty one, how can this truth be denied? And he changes the times and the reasons, he removes kings and raises up kings, he gives wisdom to the wise and knowledge to those who have understanding. With the hand of God guiding Donald Trump, we're obligated, absolutely obligated to place our faith in Donald Trump. Second Chronicles chapter seven verse fourteen gives us this instruction. My people who are called by my name will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven and will forgive their sin and heal their land. Donald Trump is a self confessed sinner that does not cause God to deny Mr Trump the role God has chosen for him because it's written in Romans chapter three, verse twenty three, for all have sinned and fall short of the glory of God. As he has brought about the will of God, what Donald Trump has had to face mirrors in so many ways what Jesus was confronted with. Jesus says this in Luke chapter 9, verse 44. Let these words sink down into your ears, for the Son of Man is about to be betrayed into the hands of men. Donald Trump has been falsely accused many times, just as Jesus was, as it's told in Mark chapter fourteen, verses fifty five and fifty six. Now the chief priests and all the council saw testimony against Jesus to put him to death, but found none, for many bore false witness against him, but their testimonies did not agree. Just as Jesus told his followers, Donald Trump has told his followers to stand strong. Let's read Matthew chapter five, verses eleven and twelve. Blessed are you when they revile and persecute you and say all kinds of evil against you falsely for my sake. Rejoice and be exceedingly glad, for great is your reward in heaven, for so they persecuted the prophets who were before you. Now we all know how the evil of this world tried to strike down Donald Trump, yet he rose conquering death, just as Jesus did. Romans chapter six verse nine reinforces this. Knowing that Christ having been raised from the dead, dies no more, death no longer has dominion over him. Okay. I think that's enough, especially since I'm now tasting bile in the back of my throat. What I've just done is repeat what way too many so called pastors have actually done. Some you know of, like Paula White, Franklin Graham, Daddy Billy must just be so proud of that boy. Others you don't, and it would also be foolish of me to mention their names. It would only elevate them out of the obscurity that they they so richly deserve. These self-professed pastors have corrupted the word of God by trying to wrongly apply it to someone who, when asked what his most important Bible verse is, declined to answer, saying, Well, that's very personal. That directly goes against what Jesus teaches in Matthew chapter ten, verse twenty seven, Jesus speaking, Whatever I tell you in the dark, speak in the light, and what you hear in the ear, preach on the house tops. I referenced earlier how fake pastors use Romans chapter three verse twenty three to excuse Trump's behavior. That verse is actually an indictment of Trump, who once said in an interview with Bloomberg TV that he had nothing to ask God for forgiveness about. With that reality established, let's once again read Romans chapter three verse twenty three, for all have sinned and fall short of the glory of God. Regarding the false teachers who are corrupting God's word in order to lift up an ungodly person, Jesus warns us about them in Matthew chapter seven, verses fifteen through twenty. Beware of false prophets who come to you in sheep's clothing, but inwardly they are ravenous wolves. You will know them by their fruits. Do men gather grapes from thorn bushes, or figs from thistles? Even so every good tree bears good fruit, and a bad tree bears bad fruit. A good tree cannot bear bad fruit, nor can a bad tree bear good fruit. Every tree that does not bear good fruit is cut down and thrown into the fire, therefore by their fruits you will know them. Now if you want to know who these false teachers truly are, Second Peter chapter two verses thirteen through seventeen fully and completely reveals them to you. They are spots and blemishes, carousing in their own deceptions, while they feast with you, having eyes full of adultery, and that cannot cease from sin, enticing unstable souls, they have a heart trained in covetous practices, who are accursed children, they have forsaken the right way and gone astray, following the way of Balam, the son of Baor, who loved the wages of unrighteousness, but he was rebuked for his iniquity, a dumb donkey speaking with a man's voice, restrained the madness of the prophet. These are wells without water, clouds carried by a tempest, for whom is reserved the blackness of darkness forever. Just as Catholic priests hid behind God's word as they rape a little boys, these false teachers are hiding behind God's word in order to rape your very soul. So how do you overcome them? By knowing God's word, and that only comes about through reading it, studying it, praying on it, and asking God to bless you with the spiritual eyes and ears to see and hear only His truth. As we're instructed in Second Timothy chapter two, verse fifteen, be diligent to present yourself approved to God, a worker who does not need to be ashamed, rightly dividing the word of truth. Be sure to check out our website, issues and ideas radio.com. We have more information about the guests who joined us here on the show today. And if you've been listening to us via your favorite podcast platform, make sure you follow and subscribe. Always grateful and thankful for your time and attention, keeping us company along for the ride. Look forward to being with you right here this time next week for our next edition of Issues and Ideas.