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Speaker 1: Well, I'm coming to y'all city saying you a conscious

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Speaker 1: with all the desire and if you want a little

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Speaker 1: banging union, come along. If the technical definition is two

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Speaker 1: quarters of contraction, you're saying that's not a recession. That's

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Speaker 1: not the take, that's not the technical definition. In terms

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Speaker 1: of the technical definition, it's not a recession. The technical

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Speaker 1: definition considers so much broader spectrum of data points. What

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Speaker 1: is exactly the White Houses definition of a recession? Again,

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Speaker 1: we don't We don't define. I'm not going to define

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Speaker 1: it from here. I don't think we're going to God willing.

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Speaker 1: I don't think we're reaching recession. Freedom is back in style.

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Speaker 1: Welcome to the revolution. Yeah, where I'm coming to your site,

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Speaker 1: going to pay ours and saying you a conscious New

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Speaker 1: Sean Hannity Show behind the scenes information on breaking news

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Speaker 1: and more bold inspired solutions for America. This is a

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Speaker 1: special edition of The Sean Hannity Show Amy Day number

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Speaker 1: three forty six and Day three fifty nine. Since Joey R.

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Speaker 1: President promised that he wouldn't abandon Americans, Green cardholders are

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Speaker 1: Afghan allies and billions of dollars and the most sophisticated

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Speaker 1: military weaponry technology in the world. But here we are

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Speaker 1: coming up on the one year mark and everybody pretty

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Speaker 1: much has turned the page except for us, and obviously

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Speaker 1: the families. They're scared to death about their family members.

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Speaker 1: We've played a lot yesterday that the administration is panicked.

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Speaker 1: They are in a full on panic. The Atlanta Fed

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Speaker 1: is predicting a contraction in the second quarter, meaning negative

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Speaker 1: growth to the economy of one point six percent, so

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Speaker 1: they're trying to get ahead of this, and they keep

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Speaker 1: it's not the technical definition of very recession. It's every

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Speaker 1: definition of a recession. Recession is defined as two consecutive

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Speaker 1: quarters of economic growth. Quarter number one, we will minus

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Speaker 1: one point six percent quarter number two, if the Atlanta

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Speaker 1: Fete is right, means will be a negative territory. Again,

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Speaker 1: is one point six one point five? Maybe one point oh,

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Speaker 1: I don't know. But the bottom line is it is

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Speaker 1: by anybody's rational definition, a recession. But they're all going

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Speaker 1: out there it's not the technical definition. Not the technical definition,

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Speaker 1: Joe Biden this week, We're not going to see a recession.

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Speaker 1: They're just lyne to us. Here's one interesting as we

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Speaker 1: get into the real impact of all of this, I

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Speaker 1: want you to understand one thing that the Epic Times

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Speaker 1: is the only other place that I know is that

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Speaker 1: has talked about it. We've discussed it in the past.

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Speaker 1: All right, So they inherited one point four percent consumer

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Speaker 1: price index. Oh and I forgot to mention consumer confidence

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Speaker 1: came out today, you know, is now you know, at

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Speaker 1: a three month low. Again, how can anyone have any

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Speaker 1: confidence in the economy, record high gas prices, you know,

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Speaker 1: forty one year high of inflation. Joe Biden said, Oh

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Speaker 1: that we've we've hit the worst of it. That was

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Speaker 1: back in December at seven percent. Now at nine point

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Speaker 1: one percent. Inflation is only transitory. I mean they keep

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Speaker 1: moving the bar left, right, and sideways. Steve Moore will

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Speaker 1: join us later. You know what, we have to redefine everything. Now.

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Speaker 1: We're just going to redefine what a recession is because

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Speaker 1: their economic and energy policies have failed so miserably. Just like, oh,

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Speaker 1: now we're going to read what's peaceful? What do you

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Speaker 1: mean what's peaceful? How do we define war? Well, it

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Speaker 1: might just be a minor incursion. What's a minor incursion?

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Speaker 1: To find a minor incursion? What's the definition of a woman?

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Speaker 1: We have to now debate what is a woman? Now?

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Speaker 1: Can actually asking questions in Congress? Can men get pregnant? Okay,

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Speaker 1: maybe I didn't learn that in my biology classes. Maybe

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Speaker 1: someday they can as of now according to my knowledge. No,

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Speaker 1: what's the definition of border security? Because ma Orcists keeps

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Speaker 1: saying the borders very secure? No, it's not. What does

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Speaker 1: transitory mean? Well, that could mean over a period of years,

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Speaker 1: because that's what transitory has become. You know, government never

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Speaker 1: spends your money, they invest your money. There's all investment.

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Speaker 1: We're investing in our future, you know, just like you know,

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Speaker 1: we're transitioning into an energy form that doesn't exist at

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Speaker 1: the capacity that could run our economy at a cost

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Speaker 1: point that would be doable, viable for anybody. We're twenty

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Speaker 1: when we talk about transitioning away from fossil fuels, you're

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Speaker 1: taught talking about decades before they could ever achieve this insanity.

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Speaker 1: You know, I'm going to eliminate our addiction of fossil fuels.

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Speaker 1: Joe Bike, look me in the eye. I'm gonna eliminate it. Well,

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Speaker 1: he didn't say he said eliminated. He just meant eliminated

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Speaker 1: domestically because he has no problem doing business with Russia.

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Speaker 1: Last year they imported six and eighty four million barrels

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Speaker 1: of oil a million barrels of oil from Iran. We

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Speaker 1: haven't done that since the nineties. Nobody saw it until

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Speaker 1: we picked it up somewhere. Now he's willing to do

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Speaker 1: deals with let's see Iran, another dumb, stupid, idiotic deal

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Speaker 1: that's only gonna embolden in power and make them rich.

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Speaker 1: He's already made Russia rich. Now he's gonna make Venezuela

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Speaker 1: rich again and pull them out of the economic doom

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Speaker 1: and gloom they've They've put themselves in so much for collectivism, socialism.

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Speaker 1: Authoritarianism doesn't quite work, does it. Now he's gonna make

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Speaker 1: Saudi Arabia even richer, OPEC nations even richer. You know,

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Speaker 1: there's a story out today Russia announced. And you would

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Speaker 1: think we would have learned from the mistakes of NATO

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Speaker 1: allies and Western Europe, because they all made the mistake

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Speaker 1: they gave in to environmentalists. Now we discovered through reporting

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Speaker 1: and read numerous reports that environmental activist groups in Germany

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Speaker 1: were funded by Russia and by Putin, why so that

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Speaker 1: they would mothball which they did their coal fired plant

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Speaker 1: for their electric grid, and that then they would do

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Speaker 1: exactly what America's about to do and what America is doing,

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Speaker 1: and that would be end their own independence on energy

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Speaker 1: and rely on Vladimir Putin. They were making Russia rich

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Speaker 1: again billions of dollars in energy deals with Germany. Now

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Speaker 1: now Germany pissed off Russia because they've helped out Ukraine

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Speaker 1: after the invading of an invasion of a sovereign country

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Speaker 1: by Putin. Anyway, so Russia's you know, Russia said Monday

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Speaker 1: that they would further reduce their natural gas flow, in

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Speaker 1: other words, of shutting off the spicket through nord Stream one,

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Speaker 1: that pipeline to Europe to twenty percent of capacity. They

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Speaker 1: had already cut it down to forty percent capacity, and

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Speaker 1: the Russian state owned company tweeted they're going to reduce

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Speaker 1: the daily output of nord Stream one's pipeline to Germany

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Speaker 1: to thirty three million cubic meters as of Wednesday. As

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Speaker 1: of tomorrow, the head of Germany's network regulator confirmed the reduction,

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Speaker 1: so that basically have now cut in half the non

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Speaker 1: the nord Stream one was announced, but they had already

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Speaker 1: cut it to six by sixty percent in mid June,

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Speaker 1: so they're only in forty percent of what they had

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Speaker 1: been prior to Russia's invasion of Ukraine. Now, what's the

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Speaker 1: lesson you should learn there? Don't rely on hostile regimes

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Speaker 1: for the lifeblood of your economy. We have hundreds of

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Speaker 1: years worth of oil, gas and coal available in this country.

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Speaker 1: We are an energy rich country. We shouldn't rely on Russia, Iran, Venezuela,

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Speaker 1: Saudi Arabia or OPEC. It's in our best national security

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Speaker 1: interest to remain energy independent. It'll reduce it'll create high

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Speaker 1: paying career jobs from millions of Americans. We could be

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Speaker 1: so filthy rich we wouldn't have to worry about the

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Speaker 1: inflation that Biden's causing because we could sell all our

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Speaker 1: extra natural gas. We can produce it at a level

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Speaker 1: we've never done before and send it over to our

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Speaker 1: allies in Western Europe. We'll make a fortune. We will

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Speaker 1: make will be We could cut taxes to next to nothing,

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Speaker 1: but of course nobody's smart enough to do that. That's

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Speaker 1: not gonna We're just gonna make the same mistakes that

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Speaker 1: Western Europe made anyway. But if we used just as

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Speaker 1: a matter of fact, and the Epic Times is the

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Speaker 1: only place that has pointed this out. Now, we've been

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Speaker 1: pointing out if you're an individual, Biden's inflation has costing

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Speaker 1: you thirty four a year. We've also discovered if you

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Speaker 1: drive a car too and from work on average Japan,

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Speaker 1: about another two grand a year because they've doubled the

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Speaker 1: gas prices, all gas prises have come down, it's still

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Speaker 1: doubled what we were paying anyway. So they inherited a

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Speaker 1: CPI Consumer Price index of one point four percent the

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Speaker 1: measurement of inflation now where it's nine point one percent.

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Speaker 1: What's fascinating about this? And Trump actually made this point

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Speaker 1: when he gave his speech over the weekend in Arizona

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Speaker 1: Friday night in Arizona that if we used the inflation

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Speaker 1: calculations the way we calculated it in the nineteen eighties,

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Speaker 1: we'd be over seventeen percent. In other words, when calculated

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Speaker 1: according to the same methodology that the US government used

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Speaker 1: in the nineteen eighties, inflation would be at a seventy

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Speaker 1: five year high of seventeen point three percent. So they're

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Speaker 1: correct about that, you know. Trump also said he believes

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Speaker 1: the country's facing a much bigger problem than a recession.

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Speaker 1: Americans now face a combination of high inflation slow growth

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Speaker 1: that's known as stagflation, and they better brace for even

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Speaker 1: far worse consequences. You know what bothers me and anybody,

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Speaker 1: any of you out there that I have kids. You

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Speaker 1: know exactly what I'm talking about. Every kid is going

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Speaker 1: to do stupid stuff. My kids would do a lot

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Speaker 1: of stupid stuff when they're young, right, all right, when

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Speaker 1: they do something stupid? All right, Hey, did you just

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Speaker 1: didn't I tell you not to eat that cookie? I

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Speaker 1: didn't hear you. Okay, whatever, Don't lie to me because

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Speaker 1: you're not gonna get in trouble usually for what you did.

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Speaker 1: You're gonna get in trouble when you start lying to me.

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Speaker 1: Then it starts pissing me off. I used to say

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Speaker 1: to my kids all the time, you're insulting my intelligence.

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Speaker 1: You're not good at it. They're not. They're just not

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Speaker 1: as street wise as I was. I don't know anyway,

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Speaker 1: but their efforts to now spin away and lie about

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Speaker 1: the bad state of this economy. I mean, it's breathtaking

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Speaker 1: to watch this. You know, the Bureau of Analysis, you

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Speaker 1: know that when we get the GDP numbers in the

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Speaker 1: second quarter, if the Atlanta Feds right, we're going to

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Speaker 1: contract one point six percent, just like in the first quarter.

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Speaker 1: They're trying to say that technically doesn't constitute a recession,

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Speaker 1: even though it's the standard interpretation and definition of a recession.

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Speaker 1: Whether they're saying the technical definition of a recession is

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Speaker 1: not two negative quarters of growth, insisted Biden's economists Briandes

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Speaker 1: on Monday, citing the National Bureau of Economic Researches broader

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Speaker 1: characterization quote a significant decline in economic activity that is

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Speaker 1: spread across the economy and that lasts more than a

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Speaker 1: few months. Now, that's not the definition. Treasury Secretary Janet

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Speaker 1: Yelling got the talking points. Joe Biden got the talking points.

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Speaker 1: Every Democrat now has the talking points. Later, we're playing

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Speaker 1: the program NYU economists now Norio Rubini and some people

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Speaker 1: call him doctor Doom, but he was right in two

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Speaker 1: thousand and eight in his prediction of the financial collapse.

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Speaker 1: Apps that happened, and he says anyone even expecting merely

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Speaker 1: a shallow downturn is delusional. A play is cut coming

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Speaker 1: up in a little bit later in the saying prices

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Speaker 1: have declined in average is sixty cents on gasoline. Okay,

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Speaker 1: that's from their five dollars and twenty five cent high. Okay,

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Speaker 1: but you're still paying twice what you were paying when

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Speaker 1: Donald Trump was president and when Joe Biden first became president.

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Speaker 1: You know, so the bull never stops. Last month, you know,

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Speaker 1: Biden called the US economy the fastest growing in the world.

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Speaker 1: They just make this atom shift up. They're full of it,

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Speaker 1: none of which is true. You know, we're now living

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Speaker 1: in this this bizarre world where up as down, and

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Speaker 1: down as up, and white as black and black as white,

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Speaker 1: et cetera, et cetera. We are in a recession. Kaarne.

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Speaker 1: Jean Pierre sounded idiotic, you know. And by the way,

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Speaker 1: it is ridiculed for claiming economic indicators don't show a

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Speaker 1: recession or even a pre recession. Oh there's an economic

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Speaker 1: genius for you. I'm Rubini's right. Any prediction for a

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Speaker 1: mild recession or a soft landing as they call it,

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Speaker 1: is delusional. And just just look at all of it,

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Speaker 1: you know, there's so many anecdotal instances for that. I'll

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Speaker 1: go into it with you. Now. I've been predicting, and

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Speaker 1: I stand by my prediction, and I'll go into more

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Speaker 1: detail in this hour about my prediction. Democrats claim they

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Speaker 1: care about working men and women. Who's getting cloud the

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Speaker 1: most poor people, middle class people, people, I'm fixed income,

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Speaker 1: the elderly. You know. Here's the story I've read the

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Speaker 1: story about a Flushing Meadows, Corona Park, Queens, New York. Guy.

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Speaker 1: I grew up with either Good Humor ice cream trucks

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Speaker 1: or mister Softy ice cream trucks, which are soft serve

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Speaker 1: if you like that. And you know, and they talked

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Speaker 1: about this guy. Guy's name is Jamie Cabals's name. He

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Speaker 1: would always have a line of cuss demers, you know, milkshakes,

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Speaker 1: vanilla soft serve, strawberries on. My favorite was a vanilla

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Speaker 1: Walnuts Sunday with wet walnuts, extra wet walnuts and chocolate syrup.

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Speaker 1: I don't know. I don't have the sweet tooth I

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Speaker 1: used to have. I'll tell you that anyway. He you know,

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Speaker 1: some kids would get the SpongeBob square pants, you know, popsacles,

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Speaker 1: whatever you call these things whatever. But now he says,

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Speaker 1: the crowds are becoming rarer because all across vendors across

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Speaker 1: the country are now having to charge a lot more

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Speaker 1: because it costs a lot more. They got to run

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Speaker 1: their freezers, and they run them on fuel, and so

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Speaker 1: the high price of fuel is feeding their inflation. You know,

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Speaker 1: he might not think about the guy that serves ice cream,

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Speaker 1: the ice cream man, my ice cream. Might hear that

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Speaker 1: either the music or the guy ringing the ice cream

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Speaker 1: truck bell on the Good Humor truck was a kid.

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Speaker 1: I couldn't be happier. Dad, Please, Dad, Please please. Father

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Speaker 1: loved Good Humor toasted almonds. So usually odds were pretty

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Speaker 1: high because he wanted one. We get one anyway, but

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Speaker 1: only an ice cream truck would be a pretty lucrative

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Speaker 1: proposition for these guys. They work hard and it's a

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Speaker 1: seasonal job for a lot of people. But the diesel

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Speaker 1: the powers the trucks is over seven bucks and a gallon.

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Speaker 1: Then all ice cream now costs thirteen bucks a gallon.

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Speaker 1: Twenty five pound box of sprinkles now goes for sixty

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Speaker 1: double what it used to cost a year ago. So

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Speaker 1: people are looking at it that they can't even keep up.

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Speaker 1: And who's thinking about the ice cream truck driver. The

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Speaker 1: guys that we love growing up when they came happiness

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Speaker 1: came with them, holding them accountable. Sean gets the answers

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Speaker 1: no one else does. America deserves and know the truth

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Speaker 1: about Congress. All right, twenty five to the top of

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Speaker 1: the hour. So we're getting three days now in a

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Speaker 1: row of bad economic news. Consumer confidence down today, but

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Speaker 1: that's just the obvious one. Now we'll get the Fed

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Speaker 1: announcement tomorrow and we're not We expect I don't know,

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Speaker 1: seventy five basis points three quarter of an interest rate increase.

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Speaker 1: So we'll see what happens, and it should get pretty interesting.

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Speaker 1: But it's none of this is good for anybody in

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Speaker 1: the economy. Unemployment is going to rise as a predictable

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Speaker 1: result of that, and and it's it's it's this is

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Speaker 1: going to be a long haul. This is not gonna

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Speaker 1: be as soft landing as they say. You know, I

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Speaker 1: mentioned this guy, the people that's sell ice cream, you know,

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Speaker 1: ice cream truck. How many people, Linda, do you have

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Speaker 1: an ice cream truck come by your house? You might

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Speaker 1: even where you live, you might even still have them.

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Speaker 1: Do you have them? Yeah? We do, We got mister softy. Yeah,

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Speaker 1: I mean, and they play that music that sticks in

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Speaker 1: your head. I hate the music I prefer the bells

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Speaker 1: on the Good Humor truck. There's a guy I know

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Speaker 1: in my town and he has an old Good Humor truck.

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Speaker 1: I want to buy it from the guy just I

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Speaker 1: don't know why. I just love it. It It made me

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Speaker 1: happy memories when that truck would come by as a kid.

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Speaker 1: But Dad, please, Dad, please you. I could see you

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Speaker 1: doing that. Are you kidding? I was unrelenting, just to

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Speaker 1: shove me up, you know what I mean, having your

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Speaker 1: own ice cream truck and going around selling ice cream. No, actually,

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Speaker 1: I would just give it away. I'd love that. That'd

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Speaker 1: be fun. Probably pat people would think I'm crazy, But

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Speaker 1: it brought me happiness. It brings everybody happiness. Ice Cream

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Speaker 1: is awesome. But look at what's happened. The Wall Street

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Speaker 1: Journal has a piece out today, and maybe maybe many

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Speaker 1: of you don't care about it. Says the headline is

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Speaker 1: the upper middle class is getting seast So we know

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Speaker 1: the poor are getting crushed. High gas prices alone or

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Speaker 1: crushing them, and people are making decisions changing their eating habits.

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Speaker 1: We've gone over all of this because of Biden's implation

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Speaker 1: they cannot afford it. Credit card debt is going through

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Speaker 1: the roof. You know what's back. Remember the repo man

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Speaker 1: we used to hear so much about over the years. Yeah,

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Speaker 1: repo is back, meaning they're repossessing cars at unprecedented rates,

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Speaker 1: like rates we haven't seen in a long long time.

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Speaker 1: And those are just some of the headlines today. I'll

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Speaker 1: go through them all for you. So the upper middle

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Speaker 1: class is getting squeezed. They're getting killed. They have money

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Speaker 1: in their four oh one k if they have money,

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Speaker 1: and the stock market that's getting killed. They invested in

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Speaker 1: crypto that's getting killed. If you know many Now, if

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Speaker 1: you're in the banking industry, the investment sector, there's gonna

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Speaker 1: be a lot of layoffs probably coming down the line.

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Speaker 1: You can see that happening. There is a report in

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Speaker 1: the Hill today half of older Americans cannot afford essential

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Speaker 1: expenses because of these policies. This is all self induced.

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Speaker 1: So much of this could be solved and resolved if

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Speaker 1: they would just snap out of their indoctrination into their

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Speaker 1: climate alarmist cult. They need to be deep programmed. Because fine,

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Speaker 1: I'm all for im and all of the above. Energy guy,

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Speaker 1: come up with cheaper, cleaner energy. I'm in, count me in.

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Speaker 1: I want to save as much money as I possibly can.

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Speaker 1: If we could produce so much energy that we can

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Speaker 1: provide all of Western Europe's needs and get them so

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Speaker 1: they not reliant on Vladimir Putin anymore. But that's what

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Speaker 1: has a double whammy effect. We bankrupt Putin, he won't

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Speaker 1: be able to I guess he'll sell his energy Indian

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Speaker 1: and China, but at least he won't be holding our

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Speaker 1: allies hostage. Their economy's hostage, which is what he's doing now.

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Speaker 1: Rising inflation coupled with higher costs of living and put

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Speaker 1: strange strains on many American purse strings. Estimate University of

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Speaker 1: Massachusetts Boston Elder Index detail the toll cost of the

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Speaker 1: cost of eight of aging on the nation's elderly residents.

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Speaker 1: They don't have the option of going back to work.

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Speaker 1: Many of them. More than half of older women who

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Speaker 1: live alone are classified as poor under the federal poverty

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Speaker 1: standards or have insufficient incomes to pay for essential expenses.

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Speaker 1: Forty five percent of men share the same financial situation.

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Speaker 1: What are we gonna do. We're gonna put eighty five

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Speaker 1: year olds back in the workplace. That's unrealistic. It's not

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Speaker 1: going to happen. Now. By the way, if you can

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Speaker 1: find a new car, you're paying way above MSRP. There's

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Speaker 1: a Fox Business article today use car prices have jumped

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Speaker 1: by an average of ten thousand dollars per vehicle. Now

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Speaker 1: my lease ran out. They couldn't get me another car,

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Speaker 1: so I bought the car. Okay, bought the car. I'm

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Speaker 1: told I could sell this car and make tens of

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Speaker 1: thousands of dollars. My sense a, my mixed martial artist teacher.

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Speaker 1: You know, he's a motorhead. He has motorcycles, he has cars,

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Speaker 1: he loves everything, and he's a total motor You know

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Speaker 1: you can sell that make this much money. I'm like,

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Speaker 1: I need a car. I got to drive here and

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Speaker 1: there and everywhere. Walmart yesterday put out more alarm bells

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Speaker 1: for the US economy. They're the world's biggest retailer. Their

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Speaker 1: stores are a beacon of low prices, kind of like Costco, Target,

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Speaker 1: you know, and corporate culture. Famously, you know, they penny pinch,

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Speaker 1: although they do pay their employees much better than they

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Speaker 1: are ever given credit for. If anyone was to thrive

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Speaker 1: in the current economic environment, it would have been a

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Speaker 1: big box retailer like Walmart. But yet they warned yesterday

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Speaker 1: on profit for a second time in just over two months.

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Speaker 1: And as they say, it's an ominous sign for the

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Speaker 1: whole consumer sector and the broader US economy. And especially

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Speaker 1: with rising interest rates. A seventy five basis point three

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Speaker 1: quarter point rate hike or a full rate point rate hike,

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Speaker 1: you know that that investors are looking for guidance. Where

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Speaker 1: did they go? Demand for food banks is surging, saw

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Speaker 1: this article today, food prices hitting both poor New Yorkers

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Speaker 1: and food pantries that support them. Saint Louis food pantries

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Speaker 1: squeezed between inflation and need as new clients arrive in droves.

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Speaker 1: I get an update fairly regularly from a friend of

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Speaker 1: mine that helps out of the food pantry of my town,

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Speaker 1: and I tell them anytime they're short they need something,

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Speaker 1: give me a call. I'll be glad to donate. And

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Speaker 1: I'm getting more calls than usual because demand has gone

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Speaker 1: up that dramatically. Local Milwaukee food banks are facing a

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Speaker 1: shortage of food and surging demand. If you live in Milwaukee,

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Speaker 1: maybe you can help some people out there. Illinois Valley

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Speaker 1: food pantries, we're starting to feel the hurt Vegas food

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Speaker 1: banks experiencing heightened demand an inflation spikes. Local Indiana food

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Speaker 1: banks are facing challenges of inflation. Second Harvest Food Bank

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Speaker 1: in Ohio is suffering amid rising inflation. I mean, it's

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Speaker 1: happening everywhere the economy we are in. Wall Street Journal

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Speaker 1: had a good piece out today there an editorial board

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Speaker 1: that the economic mess that we are in, and now

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Speaker 1: we're about to get another rate hike from the Fed

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Speaker 1: chair and he's already getting criticism for the recession that

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Speaker 1: we'll probably find out we're in on Thursday, and the

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Speaker 1: Central Bank is barely tightened policy, and they're going to

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Speaker 1: find out if Powell had the fortitude to make up

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Speaker 1: the feds great inflation make up of their great inflationary

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Speaker 1: miss steak, which was they were telling everybody it's transitory.

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Speaker 1: And I don't think. I think the time they wasted

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Speaker 1: is awful. Used car prices way up and the repo

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Speaker 1: man is back. I saw this on Yahoo Finance today,

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Speaker 1: another pandemic pandemic fallout, use car prices way up, the

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Speaker 1: repo man is back. You know they talk about a guy,

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Speaker 1: a healthcare worker, Cleveland Wishop landed at Baltimore, Washington, and

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Speaker 1: International last fall, expecting to retrieve his car and drive

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Speaker 1: home from long term parking. Never crossed the mind that

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Speaker 1: he had fallen into one of the economic traps stemming

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Speaker 1: from the pandemic. His blue Camaro had vanished the dealer

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Speaker 1: that sold it to him, and you know, the twenty

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Speaker 1: ten car. I guess he bought it used the year earliers.

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Speaker 1: They seized it after he fell just nineteen days behind

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Speaker 1: making his August payment. He says. I was pissed. He said.

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Speaker 1: In times past, auto dealers lenders would were a lot

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Speaker 1: slow or to retake cars when borrowers fell behind. Finding

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Speaker 1: and repossessing vehicles was often difficult, occasionally even risky. But

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Speaker 1: now the dealerships, they're not waiting because they have such

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Speaker 1: a demand for their cars and they can sell it

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Speaker 1: for a much higher rate. Housing market chills as mortgage

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Speaker 1: rates and prices scared buyers. That's the next big shoe

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Speaker 1: to drop. By the way, I saw this in Canada,

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Speaker 1: this grabbed my attention. A meeting of federal provincial ministers

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Speaker 1: wrapped up on Friday, with several provinces saying they're disappointed

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Speaker 1: because they're pushing ahead. You know, baby Trudeau's pushing ahead

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Speaker 1: on fertilizer reduction as provinces and farmers are like dying.

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Speaker 1: We've had farmers calling this program. The price of fertilizer

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Speaker 1: is twice what it used to be. That's how bad

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Speaker 1: this is, and it gets worse. I have more information

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Speaker 1: for you. Census survey finds fifty percent of American adults

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Speaker 1: are now having trouble covering just basic expenses every month.

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Speaker 1: Data from the Census Bureaus Household Pulse survey show one

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Speaker 1: hundred and fifty million American adults reporting difficulty paying for

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Speaker 1: usual household expenses in the last seven days. Other signs

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Speaker 1: that are emerging that inflation is altering shopping habits. A

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Speaker 1: day after Walmart had warned their investors its profit would

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Speaker 1: shrink as rising prices or forcing shoppers to make fewer

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Speaker 1: purchases at their stores anyway, the consumer goods giant, whose

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Speaker 1: product line retailer shelves, reinforce the message. On Tuesday, the

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Speaker 1: maker of Dove soap, ben and Jerry's ice cream Hellman's

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Speaker 1: Mayonnaise said they raised price units eleven percent higher than

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Speaker 1: in the same quarter last year. Wow. Nearly half of

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Speaker 1: all Americans as a CNBC falling deeper in debt as

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00:26:57,560 --> 00:27:03,480
Speaker 1: inflation continues to boost costs. Consumer confidence I mentioned this earlier,

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00:27:04,640 --> 00:27:08,600
Speaker 1: fell to a sixteen month low on worries about inflation

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00:27:08,840 --> 00:27:12,680
Speaker 1: and the economy. Well, that's that's not even going to

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00:27:12,720 --> 00:27:15,560
Speaker 1: be the worst news of the week. And tomorrow we're

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00:27:15,560 --> 00:27:19,240
Speaker 1: going to find out what the Federal Reserve does. Anyway,

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00:27:19,240 --> 00:27:22,360
Speaker 1: from Bloomberg points out, growth is already slowing in response

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00:27:22,359 --> 00:27:26,480
Speaker 1: to the Fed's repeated interest rate increases. Housing market is softening,

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00:27:26,520 --> 00:27:31,120
Speaker 1: technology companies are curbing hiring. Employment claims are edging up,

434
00:27:31,119 --> 00:27:34,760
Speaker 1: but with inflation proving persistent at a four decade high,

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00:27:34,800 --> 00:27:36,800
Speaker 1: a growing number of analysts say it will take a

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00:27:36,880 --> 00:27:43,800
Speaker 1: recession markedly higher joblessness to ease the price pressures significantly.

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00:27:44,920 --> 00:27:49,159
Speaker 1: Bloomberg survey of economists this month put the probability, you know,

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00:27:49,840 --> 00:27:53,280
Speaker 1: up a whopping seventeen and a half percent higher than

439
00:27:53,320 --> 00:27:57,760
Speaker 1: they put it in the month before. General Motors is

440
00:27:58,040 --> 00:28:02,600
Speaker 1: now curtailing hiring plan as profits as plunged forty percent.

441
00:28:03,560 --> 00:28:06,439
Speaker 1: Their net profit tumbled forty percent in the second quarter,

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00:28:06,960 --> 00:28:10,480
Speaker 1: hurt by a loss in China supply chain troubles. You know,

443
00:28:10,520 --> 00:28:13,480
Speaker 1: they're having a lot of problems with these computer chips shortages.

444
00:28:14,520 --> 00:28:16,320
Speaker 1: And by the way that you know they've had a

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00:28:16,359 --> 00:28:20,320
Speaker 1: provision in the build to punish China, but Democrats don't

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00:28:20,320 --> 00:28:23,280
Speaker 1: want to do that. China may drop the diamond. The

447
00:28:23,280 --> 00:28:26,640
Speaker 1: Biden family syndicates, you can't have that. By the way,

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00:28:26,880 --> 00:28:31,400
Speaker 1: the price of crude oil again yesterday, following Joe Biden's

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00:28:31,440 --> 00:28:33,720
Speaker 1: failure to get a deal to boost production out of

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00:28:33,720 --> 00:28:39,400
Speaker 1: OPEC and Saudi Arabia anyway, US West Texas intermediate August

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00:28:39,440 --> 00:28:42,720
Speaker 1: crude oil futures it rose to one hundred and two

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00:28:43,440 --> 00:28:46,280
Speaker 1: dollars a barrel of oil on Monday and increase of

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00:28:46,360 --> 00:28:49,960
Speaker 1: four point six seven percent. Ren crude futures rose to

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00:28:50,040 --> 00:28:53,040
Speaker 1: a hundred and five dollars a barrel. In other words,

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00:28:53,440 --> 00:28:58,000
Speaker 1: cast prices. Whatever short term band aid fix they put

456
00:28:58,040 --> 00:29:02,720
Speaker 1: in places, just it's never gonna work. Yahoo finance again,

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00:29:02,840 --> 00:29:07,080
Speaker 1: Difficulty paying bills tops pandemic high in US Census survey.

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00:29:07,400 --> 00:29:11,160
Speaker 1: And they gave the areas where it's the highest, and

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00:29:11,240 --> 00:29:16,400
Speaker 1: it's pretty remarkable. Dallas, Fort Worth, Houston, Riverside, San Bernardino, Miami.

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00:29:18,200 --> 00:29:22,680
Speaker 1: You know these people households having trouble paying for usual expenses.

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00:29:23,240 --> 00:29:43,440
Speaker 1: Detroit Atlanta, Phoenix, LA, Chicago, New York, New Jersey, Jersey City, Pennsylvania, Philly, Camden, Wilmington, Seattle, Tacoma, Bellevue, Boston, Cambridge, Newton, Massachusetts, Washington, Arlington, Alexandria, Virginia,

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00:29:43,800 --> 00:29:48,960
Speaker 1: d C. San Francisco, Oakland, Berkeley County, California. That's all

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00:29:48,960 --> 00:29:54,160
Speaker 1: because of Joe's economic and energy policies. You know, this

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00:29:54,240 --> 00:29:59,760
Speaker 1: is all predictable. New climate regulations threatened Canada's food supply.

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00:30:00,680 --> 00:30:03,640
Speaker 1: Get Canada's government has set a goal to cut emissions

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00:30:03,680 --> 00:30:08,280
Speaker 1: from synthetic fertilizer use by thirty percent by twenty thirty

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00:30:08,320 --> 00:30:12,200
Speaker 1: without first consulting the provinces on what is achievable or attainable.

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00:30:12,200 --> 00:30:15,840
Speaker 1: They just you know, government mandate. So, just like Western

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00:30:15,920 --> 00:30:20,400
Speaker 1: Europe is given into environmental radicals and climate alarmist cultists,

470
00:30:20,440 --> 00:30:23,480
Speaker 1: so has the US, and now so has Canada. The

471
00:30:23,600 --> 00:30:26,600
Speaker 1: US is about to make the exact same mistake Western

472
00:30:26,600 --> 00:30:30,360
Speaker 1: Europe made, and we're going to rely on hostile regimes

473
00:30:30,440 --> 00:30:35,440
Speaker 1: run by hostile actors. Russia now has cut eighty percent

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00:30:36,400 --> 00:30:40,680
Speaker 1: of the natural gas flow into countries like Germany and

475
00:30:40,760 --> 00:30:45,320
Speaker 1: other European countries, and is now selling their energy to

476
00:30:45,440 --> 00:30:48,840
Speaker 1: India and China and helping or ran out in any

477
00:30:48,840 --> 00:30:52,600
Speaker 1: way that they can. Grain prices are up, are up,

478
00:30:52,720 --> 00:30:58,320
Speaker 1: Russia is slashed, the gas supply. Biden feels, the Biden

479
00:30:58,360 --> 00:31:01,000
Speaker 1: officials feel the China may make can move on Taiwan

480
00:31:01,040 --> 00:31:05,160
Speaker 1: in the next eighteen months. That's kind of obvious. Just

481
00:31:05,320 --> 00:31:08,800
Speaker 1: sad because it's all preventable crisis at the border, preventable

482
00:31:10,760 --> 00:31:16,240
Speaker 1: economic crisis, preventable energy crisis, preventable. By the way, Biden's

483
00:31:16,280 --> 00:31:19,400
Speaker 1: hometown of Scranton, PA hates them. They can't even stand

484
00:31:19,480 --> 00:31:23,480
Speaker 1: them anymore. He claims it's his hometown. Climate hysterics have

485
00:31:23,640 --> 00:31:26,560
Speaker 1: vowed to shut down DC if Biden doesn't declare a

486
00:31:26,600 --> 00:31:30,000
Speaker 1: climate emergency. I would expect he'll give in to the pressure.

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00:31:30,640 --> 00:31:32,040
Speaker 1: That's pretty predictable. Also