World Over - 2019-11-07 - Full Episode with Raymond Arroyo

the House Democrats impeachment inquiry continues to gain momentum this week for analysis of the latest attorney and author David Limbaugh joins us and the US bishops meet in Baltimore next week for their full meeting here with a preview and to tell us about the traditional Latin Mass he'll be celebrating here in Washington is the Archbishop of San Francisco salvatore cord leone and later part two of my interview with bishop Athanasius Schneider about his new book Christus dean sheet and finally the stock market is breaking records but is a downturn coming for investors financial expert ave maria fund manager George Schwartz will tell us a jam-packed world over begins right now [Music] now from Washington DC Raymond Arroyo a warm welcome to all of you joining us in the United States and the world over we've got a great show for you tonight David Limbaugh Archbishop Sal Corleone a bishop Appalachia Schneider and George Schwartz are all straight ahead if you'd like to comment on tonight's show send me a tweet I'm at Raymond Arroyo lots to cover this evening but first some news the US House of Representatives impeachment probe will begin its first public hearing next week as the drumbeat to impeach the president grows louder my first guest is an attorney and a New York Times bestselling author his latest book guilty by reason of insanity is just out here to talk about what's next in the impeachment inquiry and the new book I'm joined by David Limbaugh from his home state of Missouri David thanks for being with us thank you Raymond thanks for having me on I want to start with this ongoing impeachment inquiry of President Trump about an alleged quid pro quo with Ukraine now all this goes back to a call the President had with the president of Ukraine now in exchange for investigations it's alleged that would benefit Trump politically he he said look I need a favor here on Tuesday it was revealed that the u.s. by the US ambassador to the EU Gordon sundaland that he updated his testimony to say that a top Ukrainian official told him the following I said that resumption of the US aid would likely not occur until Ukraine provided an anti-corruption statement Sanda admits that quote I did not know and still do not know when why or by whom the aid was suspended I presumed the aid suspension had been linked to the proposed anti-corruption statement now Democrats David were quick to hail this as proof of a quid pro quo that they've been alleging all along is this enough to impeach the president it's not even enough for a censure I mean we we talk about high crimes and misdemeanors this even if what they say is true it's not a high crime and misdemeanour misdemeanor Trump was asking if he did this at all in the sense they're talking about he was asking but out of frustration that Biden be investigated he's so sick of Democrats orchestrating this coup against him he says look why don't you start investigating their real corruption their real coup against me if he thought he was doing something improper do you think he would have done it transparently like he always does speaking off the off the cuff in front of perhaps as many as 12 people that could have heard him there was nothing sinister in his intent and there was no movement on the part of the Ukrainians and this Sanderlin guy as you said presumed his intent or presumed what he was up to there it is very thin stuff not impeachable well David isn't it true and just to clarify for the audience what the definition of high crimes and misdemeanors is really relies on whatever the House Majority believes it to be correct there's no question that as a practical matter that's what it is and I think in English common law it had a meaning and involved either criminal activity or something involving an egregious abuse of power but as you say even though that was a common law precedent as a practical matter impeachment is political in the United States and it's shaped up that way too but if you notice Nancy Pelosi said she did not want it to be overtly political she did not want it to be one house doing one party doing it it had to be bipartisan and she's betrayed her own earlier assertion it is not bipartisan the only bipartisanship is against this process Soglin apparently never said he was told by the president that there was a quid pro quo and in fact during his original testimony in October he said this regarding the conversation with the president President Trump I asked him one open-ended question what do you want from Ukraine he said I want nothing I want no quid pro quo I once the last key to do the right thing and I said what does that mean and he said I want him to do what he ran on now does this back and forth regarding a quid pro quo does this help the president I don't see how it can help but help him I mean this they don't they don't have anything they're grasping and that is an affirmative negation express negation of a quid pro quo why isn't more being made of that I want to move on on Wednesday the Democrats released testimony of a top US envoy to the Ukraine Bill Taylor again according to Democrats because it was private testimony this testimony Taylor's testimony suggests a quid pro quo but in reading the transcript David which I have it does not appear to be so in one exchange between GOP representative Lee Zeldin and Taylor Taylor was asked if he had first-hand knowledge of Trump conditioning an investigation into the 2016 election and the Biden's on military aid Taylor says this what I know is what ambassador Sandlin was able to tell me about these investigations and ambassador Volker I don't know what was in the president's mind even if a quid pro quo is found does this rise to the level of impeachment again David no there is no way it involved it rises to that level and other people have made that argument and the Democrats know this they planned this in advance they tried to get him on the Russia hoax it failed after they promised they had direct evidence and they lied they've never been held to account Schiff has never been held to account for promising and failing to produce objective evidence of that of collusion and now we have them shifting pivoting to Ukraine they don't have anything they plan it from the beginning and they're just trying to pile up now a process crime on Ukraine trying to get trumped for obstruction or abuse of power there's nothing there it's almost embarrassing to be honest with you you may say you don't like the fact that he did it but impeachable give me a break no way former national security adviser john bolton refused to testify to this committee the House Democrats rescinded the subpoena because they don't want to get tied up in a court battle with the White House but what they said today Adam Schiff came out and said this is evidence of the administration obstructing justice your take on that to assert to properly assert executive privilege is not by definition and obstruction of justice if you have a legitimate assertion of executive privilege you're not obstructing justice you're availing yourself of your constitutional prerogatives now if he's doing it wrongly and abusing is power doing it trying to keep Bolton from talking you can inquire into that but to say merely the assertion of executive privilege when the president has a right in fact of Duty Mark Levin used to argue that during the Clinton impeachment you don't want to denigrate the president's executive authority and undermine it and let the Congress didn't just run roughshod over the executive branch if it's not warranted I want to move on to the political analysis here it seems the House Democrats are placing an awful lot of capital on this impeachment inquiry and in this impeachment cause is that wise on the less than a year from an election is it wise to try to eradicate the last election vacated in the midst of a new one you know they've they've not they're in their own echo chamber and I don't think they have a clue what goes on in middle America they ought to tune in to a trump rally and see being unprecedented enthusiasm people's outrage that these overreaches I do not think it's wise I think the polling shows that their efforts at impeachment their own power grabs are backfiring and people are beginning to say this is an abuse of power and they can't be entrusted with the presidency and the Congress of the majority of both houses if they're going to continue to devote their entire legislative and agenda to undermining this elected president they will have if this continues have tried to a house to president for four full years this has never happened they have ignored any legislative agenda they've lost all credibility that they care about passing legislation in furtherance of their own policy agenda which is utterly bankrupt they're reduced to identity politics and advocating socialism and spending the people's money in unsustainable environmental and health care programs I'm amazed at the polling I mean in the last three weeks you see a seven-point shift against impeachment which you would imagine you know it would move in the other direction given all the media attention but it doesn't seem to be a you know movie the impeachment direction at least among the people I got to get to your book before we run out of time in your new book guilty by reason of insanity you disgust David the political discourse changing in recent years how has it changed and how do we get civil discourse back in this country given what we've been talking about the last 10 minutes or so well well it used to be that the people would say that the parties have the same goals just to have different ideas about how to get there right we no longer share the same goals they want abortion on demand killing babies up to the point of birth and beyond they want open borders flooding our country with illegals protecting them with sanctuary cities they are for full fledged socialism they're for racial color consciousness rather than blindness rejecting and spitting all over Martin Luther King's legacy of judging people by the content of their character not the color of their skin they're authoritarian there is no way we can place this idea of civility above the idea of opposing what they want to do and promoting what we want to do they want to fundamentally transform America into a vision that our framers would have abhorred and wouldn't have recognized I think a lack of civility it is an acceptable price to pay for standing up for America because if you allow these people to return to office they will obliterate America as founded and we will lose our Liberty and prosperity the writing is on the wall we have to resist what they're doing and promote what we know is the correct thing to do for our kids David what would you say and this is my final question before we go I hear from people all the time I was just in New York and a friend of mine who's really left-of-centre she said you know my upset 'men tis you have a president that is degraded the national character what would you respond to that through his tweets through his pronouncements through his you know uh counterpunching against political enemies I would say the pox on their house they are the ones who call him a Nazi they call him an idiot they did denigrate him every day Trump is a counter puncher he doesn't start these fights he's defending himself the left has been doing that too conservatives calling us racist there is not a greater slander you can level against a person they've been doing that against the entirety of the conservative movement and Republicans and they want to talk to us about decency I don't care about creased pants I don't care about this politeness if you're going to put politeness above what is decent in this country in terms of the values they're killing babies in the womb and you want to talk to me about Trump's tweets I'm sorry it just doesn't hold water for me yeah he can he can be a little unorthodox but I think unusual times call for extraordinary counter measures David Limbaugh thank you for being here the book guilty by reason of insanity is available at bookstores everywhere and online from Regnery thanks David Archbishop Salvatore cordially Oni is coming up in a moment but first some news in the wake of the Amazon Synod the vicars general of the Catholic Church in Germany issued a letter this week calling fundamental reform of the church urgently necessary the vicars general represent the ten archdiocese's of germany as they embark on a two-year long synodal path instituted by Cardinal Reinhardt marks the president of the German Bishops Conference in the letter they called for a church in which plurality and diversity are desired and permitted the so called synodal path of meetings will address key issues including the sex abuse crisis priestly celibacy and the role of women in the church seems we just saw this movie and built Thanksgiving has yet to pass it's beginning to look a lot like Christmas in Manhattan Cardinal Timothy Dolan presided over the traditional blessing of the Nativity animals at Radio City musical in addition to a rather friendly camel who took a liking to the Cardinals stylish beret several Radio City Rockettes we're also pressed and from New York to San Francisco my next guest is a candidate for president of the US Bishops Conference when they meet next week in Baltimore I sat down with him earlier to talk about the fall meeting the Amazon Synod and a special Mass a traditional Latin Mass that he will be celebrating on November 16th here in Washington DC here's my interview with Archbishop Salvatore cordially owning archbishop court Leonie I want to start with the bishops full General Assembly coming up next week now one of the items on the agenda is an update to the program of priestly formation what needs reform there in your opinion the new vision of priestly formation well continuing vision looks at it as matter of going through different stages the new PPF is implementing what they call a proper Dudek stage there's a proper Dudek stage a discipleship stage pastoral integration stage the idea is that the students would complete one stage before moving on to the other I think a big part of the discussion will be this proper Dudek stage bishops will be interested in knowing how to fulfill the demands of this this would be focusing a lot on areas having to do with human formation before moving on to the next level of seminary formation ways to accomplish this effectively without I think dragging on more time that is required for seminarians to go through their priestly formation Archbishop given the abuse scandals that we've seen here in the US what changes do you foresee or would you like to see in the formation of priests visa vie seminaries I'd mentioned human formation which will be especially a focus of the Prophet Munich stage I think that will be a key element of certainly continuing to vet candidates who are admitted to the seminary we need to be ever attentive to that and and clear with that but helping them to understand overcome any any challenges they might have in the area effective maturity and healthy living healthy sexuality so we can focus on that in this proper Dudek stage and then of course it needs to continue throughout their seminary formation but I think this is this area of human formation that is critical Archbishop I want to move on for briefly to this Amazon Synod which just wrapped up in Rome as you know the the Synod fathers called for the ordination of married men on a regional basis at least that's how it appears now they also asked for an explanation or exploration rather into the possibility of female deacons your thoughts on this is this what we need now is this the solution to the priests crisis we've had two Commission's already study the question of women and the diaconate and have concluded there is no historical basis for certainly there was an order of Deaconess that had their own specific duties and responsibilities I think looking at issues such as these are is too superficial of an approach if we think that for a long time the church had plenty of priests now the numbers are down in many parts of the world especially those parts of the world where Christianity as goes back to for many centuries or even to the very beginning so the problem is at a much deeper level it's it's as more of a spiritual crisis than just a numerical crisis so I think we need to look to the deeper issues we won't really want to resolve what problems were facing with regard to the vocations to the priesthood and religious life Archbishop at the November assembly the bishops will vote on a new president currently Cardinal DiNardo of Galveston Houston serves as president a total of 10 Archbishop's and bishops are on that presidential ballot including yourself now if you are elected what would you consider the most pressing item that the conference needs to address in this moment the life of the church we are constantly hearing at all levels in all areas of the church and go to the need for evangelization especially evangelization of the young people I think this would have to be kind of the focus issue or for this of these forthcoming years we under Bishop Baron of course has done a lot of work in this area he understands the issue very much in depth I think we have great great tools to use great resources with certainly he provides us among others so I think we need to utilize those better in evangelizing our people and especially the young people who I think are open there's their spiritually hungry and I think they're open to receiving the message if we know how to communicate it to them effectively Bishop Baron was actually here on the hill not long ago last week and during a talk he mentioned that Pew study that found 26% of the population now identified itself as having no religious affiliation at all how do you reach those people what would you do to reach them and evangelize them and then initiative I'm working on and now is holding up truth beauty and goodness the churches always understand understood the power of truth beauty and goodness and heads built Western civilization on these pillars whether it's the area of science and with truth the new categorical resource we have available in the area of goodness the church is the largest private provider of social services in the world largest private provider of health care in this country the church is doing so much in that area of goodness I think we also need to pay attention to the area of beauty and lift that up I think that's the one of the three that has been least looked at and the church has so much have so much in our patrimony in the area of music and art and architecture and literature and what we need to build that up and we're beginning to work on that especially especially with the area of sacred music new compositions of masses of sacred music which and will be yeah reloading added event in Washington DC next right well related to that I want you to tell me about this Pontifical high mass of the Americas it's really a part of a Marion unity tour and you helped organize this it began in Mexico in February it's coming to the Basilica of the National Shrine of the Immaculate Conception in DC on Saturday November 16 tell me about it and why did you want to initiate this kind of roving tribute and and really it's it's it's almost a moving prayer service yes the whole inspiration for this began almost two years ago when in the Archdiocese of San Francisco the Saturday before December 12th we have an arch diocesan wide celebration of Our Lady of Guadalupe what we call the drisana Guadalupe Ana begins with the procession at six o'clock in the morning a twelve mile procession it arrives at the Cathedral at about two o'clock and where we celebrate the mass with thousands of people there Wow well last year when I noticed early in the calendar year last year that would be December 8th so we would be celebrating the solemnity of the Immaculate Conception the patroness of the United States as we were having this big archdiocese and wide celebration and Order of Our Lady of Guadalupe the patroness of Mexico and all of the Americas so that's when I got the inspiration to take advantage of that moment hold up Our Lady as the mother of all of God's children she like any mother wants us United as one family in God so with this idea of commissioning new masses of sacred music we have a composer an accomplished composer of sacred music in our area here in the Bay Area frankly Rock I asked not to compose this mass of new compositions of sacred polyphony but incorporating the melodies and the sounds of the popular music the Mexican people seeing on our Our Lady of Guadalupe especially the email Guadalupe on oh yeah so they can recognize those melodies it has the feeling of those sounds so that's how we came up with this name of the mass of the Americas we see this as having a great power for uniting our church we all love our mother she has various titles she's appeared in various parts of the world and she's the one who really brings us together so we begin to sort of take this on the road the first time it was celebrated was in our Cathedral Samir's Cathedral on December 8th it was celebrated in Tijuana in February the archbishop asked for it to be the concluding mass of a national congress on liturgical music he was hosting and we will be doing it as you had mentioned in the National in Washington DC on November 16th this time it will be in an extraordinary forum solemn high Pontifical maths this is also a sense of building up unity with the church worship because there were some adaptations had had to be made with the music but it will be the same music the same vestments a special set of vestments was commissioned for this mass so the same vestments and the same theme of unity to bring us all together again holding up this a pillar of beauty as a way of evangelizing and uniting and healing Archbishop I want to give people a little sample of Frank laRocca's music this is the the music that was composed for this forthcoming Mass and really for all these masses that that you've been celebrating but watch [Music] why do this now why undertake an effort like this what what do you see in the times that require this that this equality this outpouring of music and and and tribute to our lady in her various forms very good question we're facing so many crises in the church in the world so much conflict and division and attacks on the church and we're reacting a lot I think what we need to do is again hold up what has helped the church build the civilization we've inherited and that's within our patrimony again the power of beauty to evangelize it will call attention call people's attention to all that is true good and beautiful yeah I think this is a way of in the current context when we're so much kind of reacting and trying to defend defend the church and make sure we're doing everything correctly it's we can get too bogged down with being on it in a defensive posture and we need to go out and evangelize we need to show what the church has to offer to the world this is a one I think there are one very effective way of doing that yeah five years ago you founded the benedict xvi Institute for sacred music and divine worship in your diocese why and how important is it to keep these sacred traditions alive in the church today especially the gestures associated with the old Mass the extraordinary form mm-hmm it's an attempt to continue the work of liturgical renewal that had begun as people have studied history the liturgy know well before the Second Vatican Council was certainly called for it the Second Vatican Council has been furthered by Pope Benedict the 16th which is why we named the Institute after him of the sense of continuity with the church's worship that what came as Pope Benedict teaches what was beautiful at one time and holy doesn't cease being that it continues now so to help with the sense of continuity in the church's worship to reclaim what it was within our patrimony but in a way that builds up with continuity so this the idea of doing this mass of the Americas in both forms with the same music say investments and the same thing is to try to show this sense of continuity with the church's well we have certainly we have much more diversity than the way the church worships today and we need to do it all very well because different forms of styles of music or styles of worship will connect with different people so we need to do all of them well but I think we need to continue to hold up what is sacred within our tradition it happens in the secular realm right classical music it's not like Beethoven and Brahms or passe and enlarged speak to today they're still performed and new compositions of classical music are still made and so I see this principle also applying to the sacred realm mmm before I let you go there's a there's been a lot of reportage on this priest in South Carolina that denied Communion to Joe Biden and explicitly for his support of abortion his public support of abortion on demand your thoughts on denying the sacrament to elected individuals public figures who remain entrenched in teachings and ideas opposed to the church in a public way I've said and thought for many years that this is another this is a crisis in in catechesis people have to be taught about what the Eucharist really is in the sense of worthiness to receive communion being in a state of grace of course none of us is worthy of this tremendous gift but the idea of being in a state of brace which means accepting and believing all the teachings of the church living in accordance with those teachings of the church so anyone who contradicts that or fails that in a serious way has to avail themselves of the sacrament of reconciliation and penance this is basic Catholic teaching I think a lot of people don't understand we've seen the the recent Pew Research poll that shows the decline and belief of the the real presence and I think too many people see the Eucharist as just a gesture of welcome and being part of the family that's a part of it but it's so much more than that so we first of all need to help people to understand what it means when we're receiving the Eucharist and people who advocate for what is seriously evil such as abortion is it's hard to imagine anything more gruesome who publicly advocate for that which is different from voting for policies or promoting issues that might have have the effect of reducing abortions but still keep it for example legal there are lots of policies about informed consent and so forth but to aggressively advocate for these it also causes a scandal and and causes people to be to be misled so I think we need to do a major education effort on the part of our people to understand these principles yeah well yeah and I think even in the press reportage it you know it's portrayed as somehow a negative thing in a penalty against an individual instead in the mind of the church this is a merciful act to wake up the the individual involved the public individual and say wait a minute you're outside of communion now you need to write yourself and come back in I mean that's really what the denial of the sacraments about and protecting the the sacrament itself which is your vow yes and and the good of the old the individual soul it's never merciful to do anything that's against the truth and the destruction of innocent human life is is a very grave matter so it's also for the good of the individual to understand the seriousness of this evil and the need to repent of that and to seek reparation for that so the the individuals good protection of the sacrament as you mentioned and the integrity of the sacrament and the public good in terms of not creating scandal all those that have has to be respected Archbishop quarterly only thank you so much for being here for more information on the mass of the Americas on Saturday November 16th at the Basilica of the National Shrine here in Washington DC visit mass of the Americas dot-org Archbishop thank you for being here he's an auxilary bishop in Kazakhstan and a staunch defender of the traditional Church teaching last week I spoke to him at length about the Pachamama idol controversy and the Amazon Synod and his new book with journalist Diane Montaigne turistas VIN sheet christ triumph over the darkness of the age this week I'm pleased to bring you part 2 of this very important interview with Bishop Athanasius Schneider take a look your excellency you spend a chapter in the book Christos Vinci discussing secularism and this new dictatorship which I would suspect is responsible for much of what we've been discussing the ambiguity in the church the ambiguity and the confusion we see this is what you right now we have reached a peak of secularism of this complete independence of man of this enormous anthropocentrism where everyone decides for himself what is true and what is good or evil such secularism brings us a horrible and cruel Society we are witnessing this it is cruel and what is the result egoism secularism leads to egoism we have now reached a peak of egoism and egoism is cruel only I and no one else where does this lead this idea this thinking is pervasive movement in society and how is this related to Benedict the sixteenth dictatorship of relativism yes maybe we can go back ok further this secularism and anthropocentrism is to my opinion the core of sin itself because when Adam and Eve sinned they want to be without God and so this is secularism without God we alone God know we exclude God and this is the core of every sin and this is the continuous temptation of man individually and collectively to to exclude God or from their personal life or the social life and but they cannot be a vacuum when you exclude God you have to put something on in this planet and so and these are idols and therefore the entire humanity lived in idolatry and this was the gravest sin in the in the Jews that the Hebrew people and all the prophets continuously fought against these deep sin but then Christ redeemed us from all sins but especially from this gravest sin of idolatry of of secularism when you were last year we spoke about the inter-religious dialogue particularly the Abu Dhabi document which I'll get to in a moment in the book you spend a chapter an entire chapter devoted to Islam and the D Christianisation of Europe and you write this for several years now in Europe we have been witnessing a massive influx and presence of Islam and its effect is supplanting and in some cases overtly opposing what remains of Christian European culture but since the recent war in Syria the influx of Muslims into Europe has been at least in part organized by those who plan to islamís eyes Europe and to Islam Asajj Europe means practically to destroy Christianity in the region to D Christianize Europe what's to be gained by D Christianizing Europe is the only one religion has we already said the only true one religion built by God it is the Catholic Church the Catholic Christianity and this is the only one religion which which is super natural supernatural to give God the place the central central place the true God this is Jesus Christ the Incarnate God in our life in the public life and so and the secularism starting in the 18th century specifically then supported and spread with the freemasonic ideology and political powers was to eliminate Christianity or at least the influence of of the light of Christ in the public life and their duties throughout 200 years and now Europe is practically not more Christian in the public life and in this vacuum now it's coming the Islam and this is also a strategical movement to use the Islam to further the Christian eyes Europe which already was the Christian eyes through the secularism in the European countries and and we need to talk about the other as I said a moment ago we talked about that Abu Dhabi statement that the Pope signed earlier this year in it he says or the document says the pluralism and the diversity of religions color sex race and language are willed by God in His wisdom does God really will that kind of pluralism religious pluralism other religions of course no this is a contradiction to the entire divine revelation God set in the first commandment you shall not have other gods and this was the constant appeal on the prophets in the Old Testament and Jesus Christ also said there is no other way than I I am the way only Jesus said I am the truth and so this statement contradicts divine revelation to say that God wills the diversity of religions so this is contradicting the entire revelation completely and and opens the door even to this movement which we are now witnessing in Europe to welcoming the spread of the Islamic religion according to this statement of this phrase in the Abu Dhabi document God wills the diversity and pluralism of religion saw God wills also the Pachamama religion with their cult it was a logical consequence and so we see we have to go again back to the roots and reject this phrase in the statement or similar statements as contradicting divine revelation another subject you cover in your book is the doctrinal confusion which we have been seeing over the last few years here I want you to react to a point in the book you talk about decentralization here's the quote there can be no decentralization in doctrinal matters otherwise the Catholic Church would be transformed into countless doctrinally different Christian denominations as we can see occur daily in the Protestant world there can be a decentralization and pastoral approaches which of course always have to be in conformity with doctrine how do you square that with the Sonata approach to governance that we're seeing coming out of Rome yes we have to clarify what does mean see not oh yes it is - my opinion only a means to promote an agenda a specific agenda which agenda the agenda true - Protestant ISTAT Catholic Church further and tool to introduce new doctrines and new practices in the church as we already mentioned in the senate of the amazon the abolition of the priestly celibacy celibacy or the introduction of a female deeakron aid and so on and the equality and diversity of all religions this is a further step and they only use the verts inability for this aim you talk about the loss of the supernatural in the book you dedicate a whole chapter to that as well how important is it to recover a sense of the supernatural and why has it been lost people clearly want it I see it when I speak to children in schools they have a very refined sense in the supernatural you have to almost beat it out of them what has happened to us as a society and a church yes supernatural is God himself his divine life is supernatural by definition creation creature and creatures are natural not supernatural this is the basic difference between God and the creature the supernatural and the greatest gift and mercy of God was that he was a con descendant to us to invite us feeble humble creatures from our nature simple nature to go to this other level of life and life and knowledge in his life his own divine life this is supernatural to give us a part to take part in his own life and so the Amazon sin it was the contrary of the gospel because the main impact and stress was put on the material aspects of the nature of the temporal so not of the supernatural before I let you go you talk here about reforming the church at the end of the book what would be your recommendations to reform the College of Cardinals we have to reform of course the College of Cardinals with man who are true men of God who are true apostles who have the the purity integrity of the catholic and apostolic faith as it is called in the Canon of the mass we have to renew the College of Cardinals with man who are in some way a hundred percent sure in the purity integrity of the Catholic faith and also in moral life what would be your advice to the layman watching tonight considering all that's coming out of Rome now and that they're hearing in their own communities and around the world first I would say dear brothers and sisters from the laity I thank you very much as a bishop for your fidelity which you have kept in these dark times please keep this fidelity and read go to catechism which you know better the old catechism because this is clear and simple and reflects the gospel and this is one advice to you and the other to pray in family to pray the rosary to make hours of reparation for the sins of the high clergy who betray today Christ and and also to pray for go to new priests and and to support good bishops who are still are did they have courage and strengths and wisdom to be faithful shepherds in these dark times Christus Vinci to Christ's triumph over the darkness of the age by Bishop a Venetian Schneider is available bookstores everywhere online and through ewtn religious catalogue at ewtn RC dot-com he's the CEO of schwartz investment counsel portfolio manager of the ave maria mutual funds and author of the book in god we trust' morally responsible investing i sat down with him recently here in washington to talk about the year-end financial markets which are going through the roof and how folks can get the most out of their investments by investing wisely and f quickly here's my interview with George Schwartz George I want to start with some things we've been seeing in reading in the news about the general health of the economy and the direction of things the Fed has already dropped rates interest rates twice they're threatening to do so again or promising - what does this tell us about the stability this economy well the big mistake the Fed made Raymond was in December last year when they raised rates and also cut back on their bond buying program the fact that they raised rates and reduced the other accommodations so-called monetary accommodation really whacked the economy they quickly got chastised for that by Wall Street the banks and a guy named Trump and they've changed course and praise God they changed course because they're lowering interest rates now they will do so again presumably on October 30th and then again in December and now should help that should help turn the economy around plus they're buying short maturity instruments again which has the effect of pushing short-term interest rates lower what is the overall health of this economy as you look at it from an investor's point of view I think it's still very strong it's slower than it was 12 months ago but 12 months ago things were really on fire and when I say it's slower it doesn't mean that we're going into a recession that means the rate of growth is slowing but corporate profits remain quite strong after being up 20 percent last year they're going to be up another five percent this year and probably ten percent next year so it's a sound economy with you know interest rates very low there's no inflation the unemployment rate is practically not a instance yeah and especially among minorities yeah historically low compared that to the rest of the world I know you were as you're balancing your portfolio of your various funds at shorts investing in Ave Maria funds you are always looking to international markets as well what's happening with China do you invest in China no we don't really we have an overseas fund the abi-maria world equity fund right no there's no money in China and it's in developed markets not emerging markets but develop markets largely in Europe and in South America but that's a small portion of our practice we do keep track of the international markets and how was the trade war with China and the battle over tariffs affecting the the the health of that economy looks like their growth is bottoming out you know the their growth rate is down to now 6% in China after being 12% for many years and those numbers are always subject to question you don't know you can believe what the Chinese are cranking out when they talk about their economic growth or medium growth and unemployment and the rest of it but the China tariffs are are bad it's a mess I don't like him I wish they didn't exist I don't think there's gonna be a great deal of progress made on those with the exception of the intellectual property IP if that got solved that would be huge if they got the international property intellectual property problem solved that would be a big big plus and the rest of Europe is is stagnating thanks to their socialist policies that they have implemented for a long time but there's great companies over there that we do invest in that don't violate our moral screens well the focus of your work is morally responsible investing what would you advise the mom and dad sitting at home and they're saying look I've got a little nest egg I've been saving things are going great you know I've got a little extra cash in my pocket because of tax cuts and the health of the economy where should they look and what types of companies slash stocks should they be looking at or mutual funds well they should look at very high quality companies particularly now there will be another recession I don't think it's on the near-term horizon but when that comes the lower quality stocks probably small cap companies will get hurt most but even they'll come back eventually but high quality is particularly important and a family should invest in a conservative way in balance their investments between stocks and bonds and I've been preaching for many years that a a good mix is 70% stocks and 30% bonds if someone was getting older you know they're in their 80s or something a lower level of commitment to stocks is appropriate and move it into bond yes which are safer really even now when you have these low interest rates well in in the case of our Ave Maria bond fund right it has nothing but very high quality short maturity bonds and that's important the those short maturity bonds again Triple A rated Double A rated will not deteriorate in price if interest rates were to rise lying maturity bonds is a different story if you buy a 30-year bond and interest rates rise the price gets waxed big-time so you buy those short instruments yes now what would your advice be to an investor because I know a lot of people they want to buy into these S&P 500 funds or they want to buy a general index fund or an Ave Maria mutual fund but they stand back and say wait a minute I'm gonna get this much of an income then you've got to take away the percentage which is the fee that comes attached to that mutual fund and then by the time taxes come around for capital gains whatever I've gained is gone so that can be but it depends on the fund like our Ave Maria Growth Fund is up 27 percent this year and that's not gonna happen every year but if you don't sell it you don't pay taxes except on the realized gains which are passed out at the end of the year but quality is crucially important high quality and our funds of course are all pro-life we don't invest in companies that tell me about that screening process you have a board you've got you had our old friend Bowie Kuhn on the board you now have Lou Holtz and I know you've added members of your board recently tell me what how does that board how do you evaluate mm-hmm funds based on what they're doing and what's out there well the board made up as you said of prominent people exactly what are the qualifications of all these people to be on a investing board yeah they don't make the investment decisions of course these people set the criteria for what we should not invest in AHA the they said the big one the main one is abortion don't invest in companies that support abortion that's many of the drug companies that make abortifacient drugs and insurance companies that pay for abortions and so forth but that's the big one beyond that they asked us not to invest in companies engaged in embryonic stem cell research mostly linked to abortion so you you keep moving the bar depending on what's happening out there and the board helps you regulate the what's acceptable and what's not in the fund well they're pretty strict on what we can't invest in that's abortion Planned Parenthood embryonic stem cell research and pornography mm-hmm other than that we can invest in anything we want we as analysts and portfolio managers hmm research specialist that's our big strength research okay give me a sense of bitcoin we hear a lot about these bitcoins these crypto currencies you're not a fan of them why not I think it's crazy I think it's going to zero I really do and it's not an investment that's a it's a gamble it's a speculation and it's a dot on the screen it's not well this really oh this really speaks to what you were saying a minute ago about look for companies that have real value and that are solid when you're dealing with something like cryptocurrency you may simply what you know be investing in this old used water model and saying it's gonna be worth 10 million dollars next week right yeah I mean it really is predicated on nothing but a bunch of people thinking oh this has value for you know you hate to bring up something from the 1600s but there was a tulipmania you know Howard back then when people thought tulips were a great investment and they were selling their houses to buy one tulip bulb oh my gosh didn't work out so work out though that's why they were they wouldn't wooden clogs well they can't afford them you know Johnson and Murphy before we move on I want you to talk about how this election season could impact the health of the economy and investors prospects in the days ahead I know from friends of mine on Wall Street they they're not fans of Trump but they are very worried about an Elizabeth Warren presidency for instance why are you concerned about that yes yeah very much so she could do a lot of damage to the economy and to the American people and some of that she could do on her own she could you know operate without Congress to do things like re-regulation that trump has removed she could do things that would hurt the economy in the market with antitrust things but she can't do is hurt the economy without Congress she can't change the tax laws which Trump had put through with the help of Congress she can't put in a wealth tax for instance which is further ridiculous on her part you know she wants to tax 2% of 3% of wealthy people's assets not income hmm Wow so I thought it was the income the overall asset a 50 million and then whatever it is a hundred million threshold next row right and she could further do damage if she got the nomination and elected she could do damage in the area of pro-life activities you know she could do like put appoint judges that are pro-abortion which would be disaster but her and Bernie Sanders and Bernie's new best friend OAC and the liberal media are all pushing this socialism and I think she's pushing the socialist as much as anybody so anyone that has studied history or has a brain in her head knows that socialism can't work it won't work it's never worked when I was out in your show a year ago I quoted the great Ronald Reagan saying that socialism can only work in two places in heaven where they don't need it and in Hell where they already have it that's true okay you you released this book a year ago in god we trust' and they're morally responsible investing it's real really your philosophy laid out there were some principles that you went through walk us through those quickly your first one was be conservative why particularly in boom times look this is a great economy roaring economy these companies are all turning out profits and paying dividends if if you reach for yield like in buying junk bonds you almost always pay a heavy price for it if you downgrade in quality on stocks by buying hot stocks or rumored stocks and so forth they almost always end up painful for the investor but if you stick with high quality companies like we buy in the of a Maria mutual funds high quality companies with a long history of paying dividends the long history of having strong management and good business plans and stick with them you almost always make money your next principle is know the field what does that mean that means don't operate outside of your area of competency in our analyst focus on things that they understand that they know that they you know interview management's and talk to the competition and talk to the suppliers of companies it's hard to do that for an individual but if you can do it through a professional management organization like the avid Merrion mutual funds you can get a broadly diversified portfolio and be confident that the work is being done for you to know to know your to know you your field know what you're investing in what does it mean to be a contrarian that seems to run against everything else you've given us so far p-nut contrarian means buy stocks when they're low buy stocks of good companies when they have a problem they've been hamper or a problem when the stocks down and because all these companies a friend of mine is very successful in investing all these companies have momentary glitches of press for a bit the company's devalued but then but the it doesn't change the bones of the company that's right if it's a solid company with a solid product product good management's the stocks gonna come back up but you've got to buy it when the it looks the worst and then I'm almost out of time be patient which I'm not yeah obviously no it's a long-term proposition it's a marathon it's not a sprint and if you buy high-quality companies of or occurred in good neutral funds stick with them and you'll be you'll be happy and you prefer an index a bouquet of stocks to blue chip companies well we don't index we don't index like the S&P 500 index or the Nasdaq index but we have a diversified portfolio of anywheres from a 30 to 50 stacks or 30 to 50 bonds and a bond fund and it's fairly focused I mean it's really focused hundreds and hundreds of no no it's not no it's fairly focused we do extensive research our staff of analysts and portfolio managers who are all CFA's and MBAs do a lot of homework and interview management's and as I said competitors and then invest the mutual fund shareholders money when the stock prices are low mm-hmm buy low and sell high yeah well we're from your mouth to God's ears George Ford's thank you for being here Thank You Raymond being with you in god we trust' morally responsible investing by George Schwartz is available at bookstores everywhere and you can find out more about the Ave Maria mutual funds that Ave Maria funds com well that is all the time we have for now until next week the show continues on Facebook and Twitter like me on Facebook you can follow me on Twitter the links are drain and Arroyo com be sure to catch us next week until then we'll be scouting the world over for all that is seen and unseen on behalf of the staff and crew of EWTN news thank you for watching I'm Raymond Arroyo from Washington DC will have the minority leader of the house with us next for you much to share with you see you next [Music]

Channel: EWTN

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Keywords: ytsync-en, wot06083, wot

Id: tC6zh1c6QgY

Length: 58min 56sec (3536 seconds)

Published: Thu Nov 07 2019