Episode Details

Clay is Optimistic

Clay Travis highlights what he sees as clear economic momentum under President Donald Trump, noting that the Iran naval blockade appears to be working as intended, with crude oil prices falling and both the S&P 500 and Dow Jones Industrial Average pushing toward record highs. Clay emphasizes that listeners who avoided panic during recent geopolitical tensions and tariff scares are being rewarded, as retirement accounts and 401(k)s are rebounding strongly—underscoring a recurring theme of market confidence and economic stability tied to Trump’s policies.

The hour then pivots to one of the most dramatic political collapses in recent memory: the downfall of California Congressman Eric Swalwell. Clay and Buck explain that Swalwell, once a leading favorite to become California’s next governor, has now not only withdrawn from the governor’s race but has also resigned his congressional seat amid escalating allegations of sexual misconduct and criminal behavior. The hosts stress how extraordinary the speed and severity of the collapse is, noting that Swalwell had survived previous scandals—including connections to a suspected Chinese spy and constant media exposure—only to see his career end just weeks before early voting in California’s June primary. They also note that a Republican congressman in Texas has stepped down around the same time over unrelated allegations, pointing to a broader moment of political reckoning around misconduct.

Sen. Rand Paul on Everything 

A wide‑ranging interview with Senator Rand Paul of Kentucky, who offers a constitutional critique of the U.S. military action against Iran. Paul reiterates that while he opposes Iran obtaining nuclear weapons, he believes Congress must authorize war and questions claims of imminent threat. He discusses the risks of escalation in the Strait of Hormuz, the economic impact of rising energy prices, and the uncertainty of whether negotiations can truly resolve the conflict. Paul also weighs in on Kentucky politics, strongly endorsing Congressman Thomas Massie as a constitutional conservative, emphasizing fidelity to the Constitution over unquestioning loyalty to any single political figure.

The conversation broadens into Second Amendment rights, where Senator Paul argues for national constitutional carry, citing data showing lawful gun owners commit crimes at significantly lower rates than the general population. Drawing on his personal experience during the 2017 congressional baseball shooting, Paul criticizes gun‑free zones and inconsistent state laws that disarm law‑abiding citizens while leaving criminals unchecked. He also addresses the SAVE Act and voter ID, arguing that voter identification should be a basic requirement for elections and criticizing mass mail‑in voting systems that weaken confidence in electoral integrity.

Two Can Play at That Game

A continued focus on the U.S.–Iran conflict, as Clay and Buck note signs of de‑escalation: the S&P 500 is within a half‑percent of an all‑time high, crude oil has fallen sharply to around $88 a barrel, and gas prices appear to be stabilizing after early war‑related spikes. They explain that markets are signaling confidence that President Trump’s blockade strategy and pressure campaign are working, with Iran’s leverage shrinking and expectations growing that further negotiations—possibly in Pakistan—could follow. Buck frames the standoff as a waiting game, describing Iran’s threats in the Strait of Hormuz as “economic terrorism” and highlighting comments from Vice President JD Vance that the United States can outlast Tehran economically and militarily.

The conversation then pivots back to the Eric Swalwell scandal, which dominates much of Hour 3. Clay plays extended audio from Lana Drews, the newly public accuser who alleges Swalwell drugged and violently raped her in a West Hollywood hotel room, ch