e *Daily Wire* and NBC, personal incomes increased by 0.8 percent in April, well ahead of the forecasted 0.3. CNBC is talking about that.

So employment looks pretty good. Stock market looks pretty good. Inflation looks pretty good. Energy prices are coming down. And personal incomes have risen more than we thought. At the same time that we're in the middle of this tariff chaos, how can any of this be true? Even I thought that the tariff stuff would at least temporarily knock things down and might still, because the tariffs are still a little bit more in our future than in our past. But things sure aren't going as badly for all that chaos.

Larry Fink of BlackRock says the next big thing in financial assets is that all of your financial assets will be tokenized. That means every stock, every bond, every financial instrument will be on one general ledger. Now tokenized means something like a crypto or a Bitcoin so that everybody would have public access to look at the ledger, I guess, much like Bitcoin now does. Does that make sense?

It seems like it would maybe make banks unnecessary or something. Once you had all your ledger and all your money was in some kind of public thing that everybody could see and everybody would have access to, doesn't that mean that anybody could lend money and anybody could borrow it and you could charge interest to anybody you wanted? I feel like banks, the only thing that's keeping banks in business is if they have lobbyists. It seems like the technology has already gotten to the point where a traditional bank doesn't make any sense at all.

I mean, think about the fact that you have more than one checking account where you've got one savings account and one checking account. Wouldn't it make more sense if when you have money in the bank, they pay you interest and when you borrow from them, you pay them interest? It just seems like there's a way easier way to do banking.

I told you that the claims about Biden are just going to get worse and worse. Here's another one. So Jake Tapper, as you know, has his book out, *Original Sin*, and his new claim is that I think he said this on Bill Maher's show that Biden's mental deterioration led to the crisis at the border. And Tapper said you're complimenting it by calling it a policy. Meaning that he didn't really have a border policy.

He said that Senator Bennet from Colorado went to an event in 2024 where Biden seemed nonfunctioning. He left the event thinking this is why our border policy, our immigration policy was such a mess. So do you remember thinking as I did? You probably had the same thought. What is wrong with Biden? Like why can't he close the border? Is it really just incompetence? And it turns out according to Jake Tapper and according to Senator Bennet, it was literally incompetence. It was actual incompetence.

Now, there were of course lots of people who wanted the border open, but Biden wasn't one of them. Biden wasn't an open-border guy, but they still slipped it past the keeper and got their open border because he wasn't capable enough to stop it. I'm not even sure he knew what was going on. So I think that's t