Also tonight, donald trump is wasting his time in the bronx, following a Head Spinning week as a criminal defendant. Purveyor of nazi rhetoric, and bald faced liar that he was a target for assassination. Plus, how ron desantis fresh from his humiliating president ial campaign, is coopting the Civil Rights Era term Freedom Summer, to push his hateful agenda. We begin tonight with a very stark reality in america. Elections have consequences. And because this country elected donald trump in 2016, we have the most Extremist Supreme Court in modern history. Yesterday, the niemsz reported that Justice Samuel alito didnt just fly an upside down flag outside his virginia home, he also proudly displayed a flag that has become a symbol of Christian Nationalism outside his new jersey summer home. The flag seen here is called the appeal to heaven flag, which like the inverted u. S. Flag was carried by the Rioting Insurrectionists at the capitol on january 6th. Now, some will claim its a Revolutionary War flag, but that symbol fell out of favor and into obscurity. The flag has been repurposed as a symbol of support for trump, more importantly, a symbol of a religious sect in the stop to steal movement that advocates for a modern america defined in purely christian terms. And what im about to tell you next will not surprise you in the least. Propublica has learned leonard leo, the man who has single handed lay remade the judiciary in this country and played a key role in not just alitos confirmation but also the five other conservative justices, is flying that exact same flag outside his fancy summer home in maine. It will also not surprise you that House Speaker mike johnson has the same flag outside one of his offices. And let me be clear. What these men are choosing to signal to the world is that they are fighting for a theocratic america, one that dissurprises earl warrens Supreme Court that made landmark rulings, recognizing a right to contraception for married couples and to interracial marriage, barring state sanctioned school prayer, and guaranteeing access to public defenders for Indigent Criminal defendants. These men who hold incredible power over more than 340 million americans, are on a crusade against Secular America. Now, after notching wins on rolling back access to reproductive care, expanding prayer in schools, and crippling the Voting Rights act, they have delivered yet another blow to diversity and equity just this morning. And the justice who is flying a christian nationalist flag outside both his homes was the author of the Majority Opinion in a case that gave a fullthroated endorsement of political gerrymandering, even if its racially motivated. Samuel alito in his opinion stated that the purpose of the ruling was to prevent litigants from Repackaging A Partisan Gerrymandering claim as a racial gerrymandering claim by exploiting the tight link between race and political preference. He then went on to assault the notion that racism might exist in america as all, writing in his typically indignant prose, when a federal court finds that race drove a legislatures districting decisions, it is declaring that the legislature engaged in offensive and demeaning conduct. We should not be quick to hurl such accusations at the political branches. Alitos sneering words backed by all of the conservatives on the court, now codify the presumption of white racial innocence into the law. His words are truly delusional and breathtaking, but Justice Clarence thomas, his concurrence takes the cake. Thomas, making the argument that america is not racist and doesnt need the courts to push a fair and just society, assaults the warren courts ruling in brown v. Board of education, which found that Racial Segregation in Public Schools is unconstitutional. Thomas, whose craving for luxury is exceeded only by his clear selfloathing faults the warren court for taking a, quote, Boundless View of equitable remedies through extravagant uses of judicial power to end Racial Segregation in the 1950s and 60s. Thats right. Clarence thomas, who to americas endless shame succeeded the great thurgood marshall, is criticizing the Supreme Court for ruling that a racist system is unconstitutional. Let me just make it plain. The conservative majority does not believe that racism exists, and because they think it doesnt exist, they have now made it easier for republicans to use redistricting to help white republicans maximize their political power. Justice elena kagan on behalf of Justices Sotomayor and jackson, wrote this Stinging Rebuke in their dissent. Quote, this court is not supposed to be so fearful of telling discriminators, including states, to stop discriminating. Those actors will often have an incentive to use race as a proxy to achieve partisan ends. Go right ahead, this court says, to states today. And so this odious practice of sorting citizens built on racial generalizations and exploiting racial divisions will continue. Frankly, justices alito and thomas do not care. Alito famously bemoaned the fact that you cant say that marriage is a union between one man and one woman, which is a lie. You can say that all you want. Hashtag first amendment. And thomas once reportedly told clerks that he intended to remain on the court until the year 2034, because, quote, the liberals made my life miserable for 33 years and im going to make their lives miserable for 43 years. Folks, this is why elections matter. Because it does not stop here. They are coming for the right to contraception. Theyre coming for the right to gay marriage. Theyre coming for it all, every single 20th century advancement, except for interracial marriage, of course, because that one would affect clarence and ginni thomas, his martha ann. Because make no mistake, this is a war on Secular America that they intend to win. Joining me now is derrick johnson, president and ceo of the naacp. And david jolly, former congressman and msnbc Political Analyst. Derrick johnson, im going to allow you to respond first to what the court has done today. Well, its unfortunate. Youre correct, elections do have consequences. Clarence thomas is a grifter. Hes benefitting from positions that he actually for taking positions he benefitted from, but for desegregating society, we would not know Clarence Thomas. Clarence thomas is an unfortunate outcome of a tradition of black people grifting off their race to betray their race. It is unfortunate. What we have seen the Supreme Court do in the decision was to undermine the question of equal protection under the law, that no state should use race as a proxy to discriminate for political gain. We are Living In America in 2024, not 1950s apartheid south africa. I think they wish we were living in 1950s apartheid south africa, including clarence who thinks somehow he might benefit so long as hes some rich mans pet. Let me go to you, david. Lets talk about samuel alito. His contempt for his position, his blaming of his wife, his two coup flags, and then he is the author of a ruling which says, go ahead and discriminate as long as you color it is a political discrimination, because really, hes fine with Racial Discrimination and gerrymandering. Joy, i guess we gave credit to samuel alito that he gave his wife the ability to choose which flag to fly. This issue on the Gerrymandering Decision and all Voting Rights decisions that are considered by this court, is really fascinating to me because of how quickly the thomases and alitos will jump to the argument that racism is over. There is no racism in the United States anymore, and therefore, the protections against discriminated classes no longer need to be there. But all you have to do is go to certain political rallies tonight and youll see racism on display. But set that part aside as well and to suggest that the discriminate impact of a history of racism in the United States is still not affecting opportunities for communities of color across the country tonight requires a professed ignorance when the fact is right in front of their eyes. Perhaps they live in some pretty special neighborhoods where they dont see the disparity and economic inequality. They dont see the access to health care inequality, the access to education inequality. But its there, and that indiscriminate impact or discriminate impact is the result of centuries of racism in the United States, and there still is a role for the federal government. This court will not ever address it, and its why, joy, though i dont personally have a hard stance on this position, i think democrats right now need to Start Talking more about expanding the court. Run on the issue of expanding the court. Because the only way to dilute the power of the alitos and thomases now for the next several decades is to say were a party that will expand the court and expand your freedoms. I will note that democrat steve cohen of tennessee has introduced a bill calling to censure samuel alito for his coup flags, but derrick johnson, i think the i started this by saying elections matter. I think people need to democrats, just americans in general, independents, republicans who care about being a democracy, need to wrap their minds around the fact that if donald trump becomes president , samuel alito and Clarence Thomas will immediately retire, theyre both in their 70s. They want to retire under a republican. Theyre naked partisans. Theyre not jurists by any stretch of the imagination. They will retire and donald trump will replace them with 30something and 40somethingyearold versions of themselves. Means donald trump will have appointed at that point five out of nine members of the United States Supreme Court. He will have created a court that will last for 50 years or more. That is the legacy he will then inherit as somebody who did not win the popular vote the first time, who got a stolen court seat that he was allowed to flip after Justice Ginsburg died. This is insanity that people are even considering doing it. How do we get average citizens, derrick, to understand that that is what is at stake . I was in detroit on sunday, can i talked to a group of formerly incarcerated young men and they were talking about their frustration. I listened to them. After they finished, i said listen, in a twoparty system, there isnt a thirdparty candidate option. Thats throwing away your vote. In a game of chess, its not about one election in november. Its about the power your vote means long term. As a result, you have to move away from candidate a versus candidate b. This is about fascism or democracy, this is about the opportunity and the tone that you set and this power game. What we are looking at, unfortunately, is a small set of individuals that are highly funded by billionaires who are seeking to control tax policies, who gets taxed, who does not, and what those taxes are spent on and willing to risk our constitution and this democracy to maintain their supremacy. Thats unfortunate for Clarence Thomas to fall in the pocket of that reality. The bottom line is he thinks theres no racism because hes getting goodies from Rich Black Men and rich white men, as long as everyone is giving him goodies, i think he believes there is no racism. Its a sad state for any man to rely on somebody to take care of your mother. And thats what he has done. Hes not a man. Hes less than because hes depending on a billionaire to pay for his mothers rent to stay somewhere. Thats unfortunate. That tells you a lot about his character. That tells you a lot about who he is as an individual. Amen. You have now also have this world, david jolly, where donald trump is lying about the idea that the current president was trying to assassinate him when the fbi went to his home to get back americas property from his bedroom and ballroom, to get back our Nuclear Secrets from his house. When his actual lawyers have argued that he has the power to assassinate his political enemies. And when he has said he will unleash the police to assassinate anyone they want in this country and use the military to shoot protesters. I dont even know what else to say to people if they think that is a reality they would accept, because they think donald trump will make eggs 2 cheaper. Another very dangerous moment from donald trump, and dangerous because this is where the malfeasance of some republicans meets the ignorance of other republicans. Donald trump knows thats a lie, perhaps, but certainly his allies on fox news and many of the people around him know that it is a lie that somehow joe biden was going to target him with violence. This was standard language in any search warrant. Then it meets the toxic ignorance of the Marjorie Taylor greenes and those parts of the party, and you really see this false narrative, dangerous narrative take hold. The reason its dangerous is Donald Trumps whole theme is that the governments coming for him and theyre coming for you. January 6th was a stole your vote, so go to the capitol with strength, not weakness. Use strength. Now hes saying they tried to shoot me. They were coming to take my life. Theres an audience that hears that and says we have to rally behind donald trump and protect him. The fact is, most politicians, historically, try to deescalate, simmer down tensions. Donald trump ramps it right up and its a dangerous moment. Ill note the exact same guidance was used when President Bidens properties were searched in order its standard, and they believe actually police should have the power and not be accountable for shooting people, so its interesting. I want to end on a somewhat positive note, a good note in many ways. Let me play what marilyn moezby, the former attorney representing baltimore city. Heres what she said when her sentence which is Home Confinement for a year, not a day of jail time, this is what she had to say after that hearing. Im just so incredibly grateful. We love you. Thank you. This is not over. But god was here today and i know hes with me. He touched the heart of this judge and has allowed me to go home to my babies. Derrick, she received 12 months of Home Confinement, three years of supervised release, must forfeit her florida condo over a 5,00050. I want you to comment on that. I know you signed a petition for President Biden to pardon her, but this justice department, this doj is still allowing trump era prosecutions like this one to stand, that absolutely feel like retribution, and i want to note as you answer that question, the fbi has now raided the hines county, d. A. , the one who secured the convictions in mississippis Welfare Scandal when they were stealing from the poor. What is going on at the doj right now . This is supposed to be a democratic doj, but i want you to comment on all of that, please, including ms. Mosby. First, you have a lot of career individuals embedded inside all of our agencies. Some of those individuals are carrying forth political views thats not consistent with equal protection under the law. In 2015, there was an effort, and it was really, really successful in getting d. A. S to be more accountable to the communities they represent. Marilyn mosby is one of those d. A. S. She did a fantastic job. Now she was targeted because she was using her money to provide a better life for her family. I want to commend Angela Wright because shes the advocate behind this. Marilyn mosby must be pardoned because this is a targeted Precaution Cushion that even the standards by which they have used wouldnt meet the threshold. They only go after people with a threshold over a million dollars. Again, we need to do something about embedded Career Employees within doj and other agencies. Well said. Derrick johnson and david jolly, thank you both. Up next on the reidout, You Know American Politics is in a sad state when in this week alone, the republican nominee has baselessly accused his opponent of trying to assassinate him, posted a video with blatant nazi references and said he was open to states restricting birth control. Its overshadowing the actual president who is actually governing the country and getting things done. More on that next. Yeah. Nice going lou nothing like a little confidence boost to help ease you back in to the dating scene. That includes having a smile you feel good about. Fortunately, aspen dental specializes in dentures and implants made just for you. And with flexible financing, you dont need to sacrifice quality work for a price that fits your budget. At 0 down plus 0 interest if paid in full in 18 months. Helping our patients put their best smile forward. Its one more way aspen dental is in your corner. Smile you found it. The feeling of Finding Psoriasis cant filter out the real you. 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Plus, ask how to get up to an 800 prepaid card. Call today when you see president xi of china, when you see kim jongun of north korea, when you see putin and all of these people, theyre at the top of their game, whether you like it or not. And they cant believe that this has happened to the United States. We have lost respect All Over The World. Moments ago, Donald Trumps reverence for autocrats of the world was on full display on the city where he stands trial in the New York City Borough of the bronx, one of the most deeply blue counties in the nation, the bronx which posts a hispanic and black majority, might seem like an odd choice for a man who echoes Hitler On Immigration and whose truth social boasted about a unified reich, but its the icing on whats been a topsy turvy week in american politics. Already this week, Trump Accused President Biden of trying to kill him and then floated and then unconvincingly walked back the idea he was open to states restricting access to birth control. The once grand old party has totally caved. The latest being former president ial candidate nikki haley who once said she felt no need to kiss the ring, only to kiss the ring in public remarks when saying she plans to vote for donald trump. Meanwhile, the actual president is getting actual things done. On wednesday, President Biden announced the cancellation of an additional 7. 7 billion with a b dollars in Student Loans for 160,000 americans. He also reached an historic milestone of appointing more than 200 federal judges, the majority of them women and people of color. Joining me now is charles blow, msnbc Political Analyst and columnist for the new york times, and molly jong fast, vanity fair special correspondent and msnbc contributor. Let me play for you all to enjoy nikki haleys a bit of her speech. Juxtaposed with some of the facts to fact check it. Here it is. As a voter, i put my priorities on a president whos going to have the backs of our allies. Nato, you take a look at nato. Every deal is horrible. I havent seen any deals that are good deals. And hold our enemies to account. I think putin has been a strong leader for russia. When would cure the border, no more excuses. Nikki haley has been in the pocket of the Open Borders Establishment donors her entire career. Shes a globalist. Trump would be smart to reach out to the millions of people who voted for me and continue to support me. People behind nikki haley are pro amnesty, pro china, pro open borders. Pro war, pro deep state, and pro biden. Thats not too good. Make it make sense. Why is she endorsing him . We knew she was going to. Look, shes not a person with a lot of moral courage. And she has never been. She served in that admin. I thought maybe she would be smart and have an eye towards democracy. That is not how it works. Look, all these republicans have fallen in line, except mike pence. And chris christie. But mike pence was his former vice president. And he, again, trump did a lot of terrible stuff to him, but he did actually say, im not going to vote for him. Which i think is meaningful. By the way, a lot of people in Trumps Administration have also come out against trump. Just not nikki haley. Let me play what she said about kissing the ring. Hes gotten more unstable and unhinged. He spends more time in courtrooms than he does on the campaign trail. Many of the same politicians who now publicly embrace trump privately dread him. I feel no need to kiss the ring. Those who embrace trump privately dread him, charles. There is a thing in atocracy that everybody has to kiss the ring. Shes smart, articulate, also a person who lacks any integrity whatsoever, and thats always been the case. Shes also been one of the most transactional politicians that we have in this country, and she continues to show us that that is who nikki haley is. I was really kind of blown away during the republican primaries when people kept saying, oh, shes different. Its a different kind of republican. You know, this is a viable alternative. No, this is always who nikki haley has been. This is always who nikki haley will be. I covered the taking down of the Confederate Flag which she falsely took credit for, and she was as transactional as she could be because she was for that flag. Let me stay with you for a moment. What would be the point of donald trump going to the bronx and bringing up putin, xi jinping and kim jongun in a place he can never win . Right. You said it yourself in your question. Hes not going to win new york. Hes not going to win the bronx. But that audience is not the bronx. The audience is everyone else in states that he could possibly win, and what he tries to do, and theres no downside for him to do this, by the way, hes trying to signal to other people, signal to people in swing states who are white who dont want to be thought of as voting for a racist to soften the ground and say maybe hes not a racist and also to shave off a couple points among blacks and hispanics who say i dont want to vote for a racist. They say maybe hes not as racist as they say he is. This is signaling to other people, has nothing to do with new york, has nothing to do with the bronx. The unified reich thing, he just says things like that. Its trump. Unified reich is a thing, google it. Lets talk about biden for a moment. We should spend some time talking about the actual president. The student loan eliminating student debt, i know somebody, it happened to her and she cried. 30,000 wipes away. Thing about the possibilities for her child and family. 7. 7 billion, its a big deal. And hes got that going for him. While the confirmed judicial nominees, 200plus, 201 that hes done. 196 that trump did. Substantially women, people of color. Like, its a big deal. But is that enough to move the electorate . So, we are really early. This election is still almost six months away. I think that what we have seen, this was a week of insane polls. I truly believe that they need a little more time. They are running a campaign that is very organized. Where they are in the states they need to be in, they have a lot of money. And the reality is, joe biden is working really hard. Now, is he doing everything that any of us want . Absolutely not. And hes got issues on his side. Louisiana just lawmakers went to make Abortion Pills controlled substances. Kwouv rr got people like lawrence boebert running, pretending shes doing infrastructure that she didnt do. So the republicans even see that his issues are good. They want them, they want to take them. Youre seeing Swing State Senators backing away from the big lie because they know it doesnt sell. I do think that, look, and if we just look back at the most recent elections, every election since 2016 has basically been a referendum on donald trump. So look, things have to happen. People hate inflation, that is going to be a big deal. Biden world can do things for people trying to buy homes, but i do think there really is hes on the right side of history, and that has to mean something. Charles, can we talk a little more about the judges . We dont really talk much about judges but we have seen the dimunition of our rights by people going and snagging the right judge. They go to that judge in texas that wants to get rid of mifepristone. You have samuel alito, the Supreme Court, this could be our future. He could get five out of the nine justices that donald trump appoints. Judges are important. Judges are hugely important. The way that our judicial system is constructed and the way we appoint judges and they ascend is also slightly problematic, were getting to understand that. The constitution is not perfect, and this part of it, the idea that we could politicize the ascension of judges is a huge problem. Democrats rush to appoint as many as they can when they have the reins and republicans rush to do the same thing. Everybody is trying to nominate younger and younger and younger judges. So they will stay on the courts forever. This is actually not healthy for any of us. It is good that biden is confirming as many as he can because trump confirmed a tremendous number as well. You have to balance that out. Expand the court. Charles blow and molly jong fast, thank you. Coming up, another shameful move from, you guessed it, ron desantis. He just wont go away. And he had the utter gall to coopt the term Freedom Summer, landmark time in the civil rights movement, and use it to ban florida bridges from lighting up in any colors besides red, white, and blue. Seriously. Well be right back. After advil lets dive in but. What about your back . Its fineeeeeeee [splash] before advil Advil Dual Action fights pain two ways. Advil targets pain at the source, acetaminophen blocks pain signals. Advil dual action. the best way to solve a problem is to keep it from happening. at evernorth, we combine medical and pharmacy data with Behavioral Health data to identify members in need of care. Predicting and treating Behavioral Health issues quickly. While lowering costs for Plan Sponsors and members. Thats wonder made possible. Evernorth Health Services hi, im michael, ive lost 62 pounds on golo and i have kept it off. Most of the weight that i gained was strictly in my belly which is a sign of insulin resistance. But since golo, that weight has completely gone away, as you can tell. Thanks to golo and release, ive got my life and my health back. When enamel is gone, you cannot get it back. But you can repair it with Pronamel Repair. It penetrates deep into the tooth to actively repair acid weakened enamel. I recommend Pronamel Repair. With new Pronamel Repair mouthwash you can enhance that repair beyond brushing. They work great together. On june 15, 1964, a group of Black And White Civil Rights Activists led by bob moses and about 300 mostly northern volunteers poured into mississippi, the hardest state to register black voters, and the lynchingest state in the union. They called it Freedom Summer. The push built on the 1961 Freedom Rides that took mostly College Students on integrated buses through the south, from washington, d. C. , through alabama and mississippi, to their ultimate destination in new orleans. During those early rides, young activists like john lewis and Joan Mulholland met violence resistance from the klan and from white segregationist governors and sheriffs, beatings and fire bombings that encompassed the full weight of the souths massive resistance against the brown v. Board Supreme Court decision and other rulings mandating the end of segregation in public accommodations in the u. S. Freedom summer in 1964. A year after the assassination of medgar evers, marked a Turning Point on the way to the passage of the landmark Civil Rights Act of 1964 and the 1965 Voting Rights act, which finally made real the promises of the 13th, 14th, and 15th reconstruction amendments to the constitution. So the term Freedom Summer has a meaning. Or at least it should to any american with a passive knowledge of history. Enter ron desantis. Americas most boldly racist governor, whose president ial campaign ended in rank humiliation as he wound up Groveling To Trump and agreeing to fundraise for him after torching his state, sinking florida with a pointless war with disney, a sixweek abortion ban he signed in the middle of the night, and a performative war against covid vaccinations and masking to protect children and the elderly. All while florida led the nation in banning books, banning drag shows, banning diversity, equity, and inclusion, and turning itself into a White Nationalist hideout for every crook, criminal, and trump in america. Well, i guess those are kind of the same thing. You get the point. Not to mention the place where National Security documents get stuffed into Bathroom Showers and elderly narcissists bedrooms. Now, ron has decided to steal the term Freedom Summer to apply it to something vulgar, because he is vulgar. According to the washington post, as part of what desantis is calling Freedom Summer, his Transportation Department has told cities across the state that if they want to light up their bridges at night, they can only use the colors red, white, and blue. The order which was shared by the Florida Transportation secretary on social media, means that bridges across the state that normally illuminate in colorful aways of light to mark holidays or awareness events wont be able to use any other colors from may 27 through september 2nd. The goal of rons order is clearly to shut down any celebration of pride month, which begins june 1st. Its his attempt to strip the bright colors off florida and turn the state into alabama, which its panhandle was originally supposed to be. Mostly its a message to floridas large and vibrant lgbtq population that your governor hates you. Just as much as he loathes the black and migrant populations in your state. Well, ron, those of us who actually read books rather than banning them know what Freedom Summer was, and you cant have that term for your sorry, bigoted performative maga road show. It belongs to history, to john lewis and Joan Mulholland and bob moses and diane nash and goodman and cheney who were lynched during that long hot summer and all of the heroes, Black And White, jewish and gentile, free men and free women who fought for the right of black people to vote. To be served as a lunch counter, and for every american to live in dignity. Dignity. You should look it up, ron. Maybe if you had some, you could be president one day. You cannot shut down the dignity of our lgbtq Brothers And Sisters by limiting the colors of the rainbow on a bridge because those who came before us crossed the Edmund Pettus bridge to oppose people like you. So i would like to declare this coming summer to be Freedom Summer, too. Lets all of us commit to work and to vote for freedom, the freedom of women, even in florida and throughout the south, to control their own bodies, the freedom of gay, lesbian, and trans people to live their lives in a way that makes them happy and healthy. The freedom to read, including books that make you think, make you uncomfortable, make you grow. The freedom to vote. The freedom to march and to protest. To live free of gun violence, the freedom to go to school armed with your dignity and your diversity and all that you bring to the table. The freedom of immigrants to work free from fear of deportation. Im telling yall, every time that florida man bangs on about something with his awful self, i dont just get mad, i get motivated. Lets get motivated and make this a real Freedom Summer. Worthy of the heroes who created it, and ignore the racist governor who tried to steal it for whatever his evil agenda is. And that goes for his buddy rick scott too. Well be right back. 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Get your best sleep guaranteed. Save up to 800 during our memorial day sale. Visit purple. Com or a store near you okay, you have probably never heard this one before. What do red lobster and the Housing Affordability crisis have in common . Hear me out. So this past week, the Seafood Chain Red Lobster filed for bankruptcy and observers were quick to place the blame on the restaurants 20 endless shrimp deal which cost them a lot of money, but the story about what went wrong goes far beyond unlimited shrimp. Its corporate greed that ultimately put red lobster in hot water. A decade ago, the chain was bought by golden gate capital, a private equity firm for about 2 billion, which they financed in part by selling red lobsters real estate to a Company Called American Realty capital, who then immediately leased it back. That meant that red lobster had to start paying rent at an above market rate which added a massive expense. At the outset, they were paying more than 118 million, nearly half of their annual Operation Earnings in cash rent. And now those same leases are cited in red lobsters bankruptcy filing. Its not just red lobster falling victim to this practice. Wall street has been doing this with housing too. As propublica puts it, Private Equity Firms often act like a corporate version of a house flipper. They seek deals on Apartment Buildings or Single Family homes, and then unload the buildings at a higher price. Since they pay with cash, theyre able to outbid any first time home buyers or middle class families not to mention it happens in predominantly black or latino neighborhoods because gentrification, of course. This has been going on since the 2008 recession, but its only exacerbated since the pandemic and is another reason why so many of us, is so expensive to laugh or buy. Joining me is the laugh track to my read here, stephanie ruhle. First of all let me give you i have to compliment you. That was an extraordinary explanation. I was sweating it out thinking i was going to have to break it down for the audience, going im about to explain private equity sell lease backs. You did it beautifully. I will credit my i explained it and it took me about half an hour. It is my sons favorite restaurant. The cheddar bay biscuits. He does like the allyoucan eat shrimp. The reason im so obsessed with the stories because people are trying to understand why housing and rent is so expensive and i keep trying to tell people its the equity firms that are bang up all the stuff and they are jacking up all the prices and now they are doing it to red lobster. Private equity firms are not good at Operating Restaurant Oh or hotels, they are good at Financial Engineering and thats exactly what this is in the problem with this headline when he see red lobsters going bankrupt, for all the people who want to say, the economy is failing, look, a household name, red lobster is going under because no ones going out to eat. Thats not true. This allyoucaneat shrimp deal did hurt them they lost about 10 million but 10 million, they are paying that money to the Bankruptcy Law firm, help our audience understand, these Private Equity Firms they by the company, they say im going to sell the land and when they sell the land they automatically have this leaseback so all the restaurants then have to rent the space at a higher level and then they are underwater. I think people dont understand Companies Like mcdonalds and red lobster, they are selling to real estate firms. People are not understanding what the business is that these companies are in, its not food, flying planes, its bankcard stuff and land. Cash flow business. So couple that with yes the Restaurant Business got hit hard in the last few years. Then they do the shrimp deal and when you and i get all you can eat shrimp they cant turn the table over in 45 minutes. We want to sit for two hours. Some of this is like shocking, in atlanta, 21 of the Housing Market is bought out by private investors. Tampa, 15 , this is the reason housing is so expensive. Phoenix, nashville, and so locals cant afford it anymore, Private Equity Firms come in they say ill take it sight unseen i will buy it for cash, they cut out all the Operation Costs and then they jacked the rent and individuals cant afford it so when people say, the economy stinks, i dont feel well, its because rent is so high. Interest rates, where they are, they cant afford to buy a house. The polling that came up, its shocking to me, people actually believe that President Biden controls the prices of things. They think its the president , a lot or some, put that back up again. They think the president controls the prices of things. Private equity firms are controlling it, investors are controlling it. How come there is such a disconnect . Its a free market, the president certainly doesnt control it and the media doesnt help the narrative, talking about it every day all the negatives and life is expensive, when you go to the grocery store, a restaurant but heres one of the other issues, things cost more but we are making more money, people have more money in their pocket then they did prepandemic. The amount of people traveling this summer, airlines and hotels are expecting a booming summer, do you think people with no Disposable Income are not going on vacation . They are on vacation. This is the washington post, you have target, walmart and all day, all Doing Price Cuts off thousands of items that consumers have said that they are discontent with the cost. Theyve been price gouging, and they are automatically going to lower prices, inflation, thats what inflation is. Weve seen Consumer Brand after Consumer Brand, every time we hear their Quarterly Earnings they talk about well, theres some price elasticity, theres flexibility meaning they are able to test the market and raise the price and finally, consumers are saying, im not going for the irish butter. The doj, people are able to build these companies to be so huge that they can be a monopoly. Ticketmaster is a different situation people could say how come things are so much cheaper in europe, ticketmaster operates in europe, its cheaper in europe because in europe, there are serious regulations on scalping, Secondary Market and thats what kills you here, the Secondary Market, when you buy the original price of the ticket its not so bad, its the Secondary Market. Stephanie ruhle, the reason we are together is the reason we have to stay apart is because we will do this for another half hour. We will do a dance segment. We will be right back. Righk provides 2 shades whiter teeth and 24 7 sensitivity protection. I think its a great product. Its going to help a lot of patients. My grandfathers run meyer the hatter for over 75 years now. Hes got so many Life Experiences that he can share. Finding the exact date on ancestry that our Family Business was founded, was special to share with my grandfather. You dont get that moment every day. Slowing my cancer from growing and living longer are two things i want from my Metastatic Breast Cancer treatment. And with kisqali, i can have both. Kisqali is a pill that when taken with an Aromatase Inhibitor helps delay cancer from growing and has been proven to help people live significantly longer across three separate clinical trials. So, i have the confidence to live my life. Kisqali can cause Lung Problems or an abnormal heartbeat, which can lead to death. It can cause serious skin reactions, liver problems, and low white blood cell counts that may result in severe infections. Avoid grapefruit during treatment. Tell your doctor right away if you have new or worsening symptoms, including breathing problems, cough, chest pain, a change in your heartbeat, dizziness, yellowing of the skin or eyes, dark urine, tiredness, loss of appetite, abdomen pain, bleeding, bruising, fever, chills, or other symptoms of an infection, a severe or worsening rash, are or plan to become pregnant, or breastfeeding. Long live life and long live you. Ask your doctor about kisqali today. luke this will be a gold mine of local intel. A marci live you. So, tell us about this corn festival. stylist oooh you got your corn pudding. marci so. Is it safe around here . stylist sometimes. [luke gasping] marci no eyebrows . luke think of how light itll feel in the summer. We gotta run. Eleven thousand more neighborhoods to go vo ding dong homesdotcom. Join us tomorrow for a special two hours of the readout, we will get things started an hour early, stay with us for my full interview with wnba star brittney griner. Her joyful homecoming and much more including bonus content that has never air before, you dont want to miss it tomorrow night. And that is tonights reid out. Follow our sure are