Iran Deal Confusion, LA Mayor Race, Inflation, Freedom 250

Added: 2026-05-31

[00:00:13]Hello America, I'm Eric Ericson. It is May 28th and these are the four things you need to know this afternoon. Up first, there's real conflicting reports over the Iran deal. We may have a 60-day kick the can approach that Iran has agreed to. Except Israeli media says that the Ayatollah of Iran has actually told the negotiators for Iran not to take the deal and there may be disagreements inside Iran over the deal.

[00:00:37]We're also waiting to see if the president of the United States would take the deal. Now the White House spin is that they're getting everything they want except we would actually get a nuclear deal with Iran. We would kick the can down the road for 60 days. We would however get the straight of formoose open fairly immediately within 30 days if this sticks. However, there are some reports the Iranians might continue to toll the straight of formoose which every nation opposes.

[00:01:00]There's just a mixed bag as to what actually will happen. Again, I mean the White House says they're getting everything they want. We'll just put off nuclear talks. We're not getting Iran to give up nuclear weapons without regime change. The Iranians are saying they're not even sure if they can sign off on the deal without the Ayatollah's approval. We'll see. Meanwhile, gas prices are going down, oil prices are going down because it looks like there's some hope we may get something out of it. If you're new here and like what you're hearing, hit subscribe. I drop honest analysis every single day. Millie Vanilli. Remember Millie Vanilli? Not now going to play at the Freedom 250 concert on the mall. Everyone is scratching their heads over this with the exception of Martina McBride, the famous country music artist. Most of these are washed up has been acts. some of whom like Millie Vanilli were chased out in scandal. There's also Vanilla Ice uh and and others. It's just an odd assortment. And now multiple groups including Millie Vanilli say they never had any intention to play. This is just an epic disaster uh for this Freedom 250 event to do some sort of uh country fair on the mall with washed up music acts.

[00:02:09]It's kind of an embarrassment. And I realize Trump is kind of radioactive for celebrities, but really, no celebrity wants to step up and help America celebrate its 250th anniversary. Can someone get Dolly Parton on the phone, please?

[00:02:23]There's a tight mayor race in Los Angeles. It looks like Karen Bass, the commie from the city council, no one had ever even heard of, and Spencer Price are all clustered around 27, 26, 25 in the polling. Pratt in second place, Bass in first place, the Kami from city council, no one can remember, in third place. But for those of you getting excited about this, if it was a race between Karen Bass and Spencer Pratt, Karen Bass would get over 50% of the vote. That's the problem. Pratt is getting a lot of internet attention. He was on CNBC this morning. And in fact, he's getting very favorable buzz by residents of Los Angeles. But many of the residents of Los Angeles want to be a third world hell hole and they feel guilty because of the color of their skin and wish to have uh the slums of Los Angeles expand and the homeless drug addicts run free. That's not Spencer Pratt's fault. It's just many of the people of Los Angeles. They've given up hope and they feel guilty about being white and wealthy. So, they want the drug addict homeless to run over the streets. And when they see them, they feel good about the feral drug addicts running through the streets. And it's a city in decline. It's a city in decay.

[00:03:25]And it's a city that's getting exactly what it voted for. We'll see if Pratt can cause these people to have a change of heart in a runoff, assuming he gets there. Lastly, the personal consumption expenditures price index, which is the Federal Reserve's favorite monitor for inflation, increased a seasonally adjusted point4% for the month, putting the 12-month inflation rate at 3.8%.

[00:03:47]Now, this is what economists expected.

[00:03:50]They were looking at 3.8%. 8% and it's exactly what they got. Excluding food and energy, core prices rose 2% for the month and 3.3% for the year against estimates of.3% and 3.3%. So pretty much in line with estimates. Here's the problem. The Federal Reserve will not be cutting interest rates with inflation at 3.3%. They want it at 2% before they do anything. Inflation is still high and some economists are warning it could go higher as this war drags out. And also due to storms, weather, drought, and food prices, we may be seeing more inflation. And consumers, they're not happy. And as gas prices continue to stay elevated, those costs will get passed on to consumers. And this will be a problem in the midterms for the GOP, which going full circle to story number one is probably why the president wants a deal that gets the straight of Hormuz open and he's willing to kick the can on nuclear weapons and nuclear issues in Iran. I'm Eric Ericson. These are the four things you need to know this afternoon. Have a great day. I'll see you tomorrow.