Speaker 1: Welcome.
Speaker 2: It is verdict with Senator Ted Cruz Ben Ferguson with you, Senator,
Speaker 2: It's like one in the morning, and I can't believe
Speaker 2: I'm actually saying this to you, But is it fair
Speaker 2: to say that Kamala Harris is stealing campaign ideas from
Speaker 2: socialists and communists, you know, people like Stalin and I
Speaker 2: don't know Maduro with her new plan on food prices.
Speaker 3: Well, we're twenty five days in to Kamala Harris being
Speaker 3: the presumptive Democrat nominee. For twenty three of the days,
Speaker 3: she had a total of zero policy proposals.
Speaker 1: Her website still.
Speaker 3: Has no policy positions listed on it. Then, twenty four
Speaker 3: days into it, she discovered her first policy proposal and
Speaker 3: it was a good one. It was no taxes on tips,
Speaker 3: something Donald Trump proposed, something that I introduced and authored
Speaker 3: the legislation.
Speaker 1: And so that was a good sign.
Speaker 3: She had found one position that she liked and it
Speaker 3: was actually a tax cutting position. Well, that moment, that
Speaker 3: moment of clarity lasted about twenty four hours. She's now
Speaker 3: come out with her second policy position. And mind you,
Speaker 3: this is the second out of two, because in twenty
Speaker 3: five days she has not had any other policy positions whatsoever. Unfortunately,
Speaker 3: position number two was not nearly as good as position
Speaker 3: number one. Position number two is she Queen Kamala the
Speaker 3: federal government czar is going to set prices, well, not
Speaker 3: on anything that matters, just food, just groceries, just what
Speaker 3: you feed your children and your family. That the federal
Speaker 3: government is now going to be in the business that
Speaker 3: the Soviet Union, their government was in for a long time,
Speaker 3: deciding the prices of goods that people need and want.
Speaker 3: The only problem is history has shown that is absolutely disastrous.
Speaker 3: We're gonna break that down, We're gonna explain it to you.
Speaker 3: And then secondly, Kamala Harris desperately, desperately won want you
Speaker 3: to forget that. She has been the borders are for
Speaker 3: four years. There's a reason for that. The border is
Speaker 3: the single greatest disaster under Joe Biden and her administration.
Speaker 3: Just this week, we've seen a potential terrorist, a Palestinian, apprehended.
Speaker 3: We've also seen a criminal, a mass murderer, who had
Speaker 3: been apprehended at the border. These are inconvenient facts, as
Speaker 3: of the facts that she and Joe Biden have lost
Speaker 3: over eighty thousand illegal immigrant children they've just lost them.
Speaker 3: They handed them over to adults. They didn't vet, they
Speaker 3: don't know who they are. They don't know if the
Speaker 3: adults are abusing the kids. They don't know if the
Speaker 3: adults are putting the kids in slave labor, they don't
Speaker 3: know if the adults are engaging in sexual abuse of
Speaker 3: the kids. They've just lost them. Because it's all politics
Speaker 3: and if children have to suffer, well, they're willing to
Speaker 3: accept that price. We're gonna explain that as well.
Speaker 2: I want to remind you about what's going on in Israel.
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Speaker 2: with the people in Israel Center. When this came out,
Speaker 2: I was actually kind of laughing, and then I realized
Speaker 2: how close we are to turning into a Soviet style
Speaker 2: food market, grocery stores. And if you go back and
Speaker 2: look what Soviet style markets look like, they didn't actually
Speaker 2: even have shelving in the majority of them.
Speaker 1: They had pallets and boxes.
Speaker 2: And then you open the box and whatever they had
Speaker 2: for you there that day is what you went home with.
Speaker 2: You didn't go shopping, you went and found whatever they
Speaker 2: brought you. There are lots of videos of this that
Speaker 2: you can see online of just how bad it is
Speaker 2: when the government takes over. But what Kamala Harris is
Speaker 2: doing is she's trying to appease to voters, saying, Hey,
Speaker 2: I'm going to put price controls on food. The issue
Speaker 2: is and I want you to take a moment to
Speaker 2: explain this to people. If the government does that and
Speaker 2: the farmer's prices go up and the price of grain
Speaker 2: or the price of fuel or the price of transportation,
Speaker 2: they start losing money, they go under instantly, leaving no
Speaker 2: one but the government to basically feed you.
Speaker 3: Well, I want to break down a couple of pieces
Speaker 3: of this. I want to break down the politics of it,
Speaker 3: and then I want to break down the substance of it.
Speaker 3: Let's start with the politics of it. Kamala Harris and
Speaker 3: her team have been on a sugar high for twenty
Speaker 3: five days. The press has been engaged in a relentless
Speaker 3: campaign of lionization and canonization. They've been turning her into
Speaker 3: Saint Kamala. But it has been utterly substance free her team.
Speaker 3: They're not stupid. They understand as we get closer to
Speaker 3: election day, people are actually going to care about substance.
Speaker 3: The top two issues in the country, and this is
Speaker 3: true in pretty much every single opinion poll that is done.
Speaker 3: They are number one the chaos at the open border
Speaker 3: eleven and a half million people crossing to this country illegally,
Speaker 3: and number two jobs in the economy, and in particular
Speaker 3: inflation and inflation is hurting people all across the country.
Speaker 3: And it varies poll to poll whether illegal immigration is
Speaker 3: one and economy inflation is two, or whether economy inflation
Speaker 3: is one and illegal immigration is two, but those are
Speaker 3: consistently one and two. They're both at about thirty percent,
Speaker 3: by the way, in a typical poll in terms of
Speaker 3: how many of the voters say this is my top concern,
Speaker 3: so the two together are about sixty percent, and Kamala's
Speaker 3: record on them, on both of them is terrible. Now
Speaker 3: on the border, her strategy is simple. She's just trying
Speaker 3: to gaslight the American people and claim she wasn't the
Speaker 3: borders are, it's not her fault, pay no attention to
Speaker 3: what's going on here. So it's just denial. Because she
Speaker 3: has no other answer on inflation. This is her effort
Speaker 3: to provide an answer. Now, I want to explain where
Speaker 3: inflation comes from first, and then what's wrong with her
Speaker 3: bogus political solution. What has caused the inflation of the
Speaker 3: last four years, And it's been two things. Principally, Number one,
Speaker 3: it has been the federal government spending trillions of dollars
Speaker 3: we don't have, borrowing trillions of dollars we don't have
Speaker 3: from foreign countries, including China, and printing trillions of dollars
Speaker 3: we don't have. And this is where it's important to understand. Listen, Democrats,
Speaker 3: unfortunately in Washington, are economically illiterate. That's a real problem
Speaker 3: because one of the major jobs of serving in the
Speaker 3: federal government is to understand the economy. My number one
Speaker 3: priority in the Senate is jobs. You have to know
Speaker 3: something about the economy to be able to fight for
Speaker 3: jobs for thirty million Texans. Now, what is the role
Speaker 3: of prices. And let's go back to first principles. All right,
Speaker 3: if you go to ancient agrarian societies, maybe Ben, you
Speaker 3: might be a fisherman and I might be a farmer.
Speaker 3: And let's say I grow apples, and maybe it's the
Speaker 3: case that initially exchanges were done by barter. So let's
Speaker 3: say I wanted a fish, and you were a fisherman,
Speaker 3: and I could come and I could give you three apples,
Speaker 3: and you could give me a fish, and you and
Speaker 3: I could agree. I guess I had a lot of apples.
Speaker 3: Fish were harder to come by, they took more effort,
Speaker 3: they took more labor, they took more capital. You needed
Speaker 3: a boat to be able to get your fish. So
Speaker 3: we would agree on a price of three apples for
Speaker 3: one fish. And so that's how we set the relative
Speaker 3: value of the two things we were producing. The problem
Speaker 3: is it was really inconvenient to carry around apples in
Speaker 3: your pocket all day long or fish in your pocket
Speaker 3: all day long, aside from the fact that it kind
Speaker 3: of stinks and they go rotten. And so what arose
Speaker 3: is the growth of money. Now the value of money
Speaker 3: is prices serve as a signaling effect. Now they serve
Speaker 3: as a signaling effect. Number one, the relative value of
Speaker 3: goods and services visa each other. They also have a
Speaker 3: different signaling effect, which I'll discuss in a minute, but
Speaker 3: let's just focus on the relative value. So if we
Speaker 3: come up with let's say a dollar, that's going to
Speaker 3: be our medium of currency. And if the ratio was
Speaker 3: three apples to every fish, it would be very simple.
Speaker 3: We would agree that the price of a fish is
Speaker 3: three dollars and the price of an apple is one dollar.
Speaker 3: Now that's that same ratio. It's the identical thing you
Speaker 3: and I have agreed. That's the relative value of the two.
Speaker 3: But the beauty of it is we could both carry dollars,
Speaker 3: and we knew if I wanted a fish, I gave
Speaker 3: you three bucks. If you wanted an apple, you gave
Speaker 3: me a dollar. By the way, you didn't have to
Speaker 3: give me a third of a fish, like giving me
Speaker 3: the fish head is kind of lousy. You could just
Speaker 3: give me a dollar and that was a third of
Speaker 3: the value of the fish. So it was also divisible
Speaker 3: to smaller units, and it enabled exchange and trade. Now,
Speaker 3: to understand inflation at the very simplest level, let's the
Speaker 3: entire purpose of money, or one of the central purposes
Speaker 3: entires a bit much. But one of the central purposes
Speaker 3: is providing a relative valuation of one good in service
Speaker 3: versus another. In a simple hypothetical, let's assume we double
Speaker 3: the number of dollars that exists in our land, our country,
Speaker 3: wherever we're living.
Speaker 1: Let's say there are.
Speaker 3: A million dollars in circulation on day one, and then
Speaker 3: on day two there are two million dollars. Now, if
Speaker 3: you double the number of dollars in circulation, look, the
Speaker 3: relative value of a fish to an apple didn't change.
Speaker 3: You and I still agree a fish is worth three
Speaker 3: times as much as an apple, Which means if there
Speaker 3: are twice as many dollars, and the dollars are serving
Speaker 3: a signaling function to let me know how valuable a
Speaker 3: fish is compared to how valuable an apple is. It
Speaker 3: means when you double the money supply and you go
Speaker 3: from a million dollars in circulation to two million dollars
Speaker 3: in circulation, you know what the price of a fish
Speaker 3: is the next day six dollars. You know what the
Speaker 3: price of an apple is two dollars. Why because the
Speaker 3: ratio of six dollars to two dollars is still three
Speaker 3: to one. And we also want to be able to
Speaker 3: value the price of a fish and an apple, visa
Speaker 3: viv a banana, visa v an F one to fifty
Speaker 3: pickup truck, and so you need pricing gives relative values.
Speaker 3: Why do we have inflation? There were two major drivers.
Speaker 3: Number One, the Democrats spend a crap ton of money
Speaker 3: they didn't have, and they grew the money supply. There
Speaker 3: are a lot more dollars. If there are a lot
Speaker 3: more dollars, the price of everything goes up. But secondly,
Speaker 3: there is a second component of inflation, which is for
Speaker 3: four years, Kamala Harris and Joe Biden have waged a
Speaker 3: war on energy and in particular oil and gas. And
Speaker 3: understand oil and gas. The United States is the world's
Speaker 3: biggest producer of oil and gas. We are the world's
Speaker 3: greatest superpower when it comes to oil and gas. This administration,
Speaker 3: because they've given in to the Green New Deal lunatics,
Speaker 3: and in fact not just give it in, they've embraced them,
Speaker 3: and that's who they are. They have launched regulatory effort
Speaker 3: after regulatory effort trying to hammer US oil and gas production.
Speaker 3: The result has been the price of gasoline has risen,
Speaker 3: the price of energy has risen. The price of oil
Speaker 3: and gas across the board has risen. That is their
Speaker 3: intended effect. Why because Kamala Harris and Joe Biden want
Speaker 3: to make it really expensive when you fill up your
Speaker 3: pickup truck, when you fill up your minivan, when you
Speaker 3: fill up your suburban. They want it to be painful
Speaker 3: because they want you to sell your suburban and go
Speaker 3: buy a little electric vehicle. And they figure if they
Speaker 3: make enough American families hurt, then you will change your
Speaker 3: behavior and you will comply with their woke political demands.
Speaker 3: Now that war on energy is a major, major driver
Speaker 3: of inflation. Let's take food. So when it comes to food,
Speaker 3: a big driver of the cost of food is the
Speaker 3: cost of fertilizer, and fertilizer natural gas is a major
Speaker 3: ingredient energy costs or a major ingredient in the cost
Speaker 3: of fertilizer. And so by driving up the cost of energy,
Speaker 3: they're driving up the cost of growing food. But not
Speaker 3: just growing food. Look, if you want to plow your
Speaker 3: field right now, a farmer uses a tractor. A tractor
Speaker 3: runs on diesel. If the cost of diesel is a
Speaker 3: lot more. It's a lot more expensive to plow your field.
Speaker 3: Once you plow your field, you've got to harvest your field.
Speaker 3: That again takes diesel. That becomes a lot more expensive.
Speaker 3: Then after you harvest it, you've got to take it
Speaker 3: to the wholesaler. The wholesaler has to take it ultimately
Speaker 3: to the grocery store. Every one of those trucks runs
Speaker 3: on diesel as well, and so by waging a war
Speaker 3: on oil and gas, Kamala Harris is directly responsible for
Speaker 3: causing a massive increase in the cost of food at
Speaker 3: the grocery store. Now she's got a political problem. This thing,
Speaker 3: which millions of Americans hate because it's hurting their families
Speaker 3: is her fault. It is her fault because of bad
Speaker 3: policies that she is championed day in and day out
Speaker 3: for four years. She can't admit any of that. So instead,
Speaker 3: what is their solution. The government will magically decree prices
Speaker 3: will be lower. You must lower prices politically. This is
Speaker 3: driven by a mandate to have some answer to inflation,
Speaker 3: and she can't give the answer. I'm going to stop
Speaker 3: my terrible policies that cause this inflation. So instead wave
Speaker 3: a magic amount wand the government will fix it out.
Speaker 3: In a minute, we'll get to the substance. But her
Speaker 3: solution is an absolute train wreck. It is a disaster.
Speaker 3: It would hurt the American people badly. But understand, she
Speaker 3: doesn't know this far. Too few Democrats in Washington have
Speaker 3: even a basic understanding of economics, and so their answer is,
Speaker 3: we will just decree no longer will fish, and my
Speaker 3: hypothetical will be three dollars. Now, mister Ferguson, you must
Speaker 3: sell fish for a dollar because people like fish, and
Speaker 3: three dollars is too much for a fish, so you
Speaker 3: must sell fish for a dollar.
Speaker 1: That is her answer.
Speaker 3: History teaches us in every society that has tried this,
Speaker 3: from the Soviet Union to Venezuela, it is a disaster.
Speaker 3: It doesn't work, It results in massive shortages, it results
Speaker 3: in consumers getting royally screwed. And yet Kamala Harris and
Speaker 3: the people around her have no idea about this.
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Speaker 2: Let's talk about how this how quickly this can unravel
Speaker 2: the idea and look, I understand this is another way
Speaker 2: of in essence Biden and Harris. All right, I should
Speaker 2: now just say Harris is trying to buy votes. Hey,
Speaker 2: vote for me. I'll give you cheaper food with guaranteed pricing.
Speaker 2: But the collapse apps of the private sector can literally
Speaker 2: happen overnight. I go back to COVID is a great
Speaker 2: example of this. The entire system would have fallen instantly
Speaker 2: if you had price mandates. That meant that the people
Speaker 2: that were producing, whether it's whether it's dealing with cattle
Speaker 2: or chicken, or eggs or milk, dairy, whatever, grain, everything,
Speaker 2: we saw the prices go up. And if you have
Speaker 2: a set price at hey, farmer, you have to sell
Speaker 2: a pound of ground beefit a dollar ninety nine, and
Speaker 2: then it's costing you three point fifty four five dollars produce.
Speaker 2: You're out of business instantly. It all shuts down instantly.
Speaker 2: You can't you can't run in deficits like that on
Speaker 2: end because the government tells you must sell your dozen
Speaker 2: eggs for a buck fifty when it's cost you three
Speaker 2: twenty five because of grain prices.
Speaker 1: That is exactly right.
Speaker 3: And what you're touching on now is a second very
Speaker 3: important function of prices. So when I was first laying
Speaker 3: this out, and let me just say as it aside,
Speaker 3: this is one of the reasons I like doing this
Speaker 3: podcast is we actually get into substance. Like like if
Speaker 3: you're watching the news on CNN, they don't cover substance
Speaker 3: that they just engage in political propaganda.
Speaker 1: And this podcast.
Speaker 3: One of the things I love about our listeners is
Speaker 3: our listeners run the gamut in terms of age, in
Speaker 3: terms of experience. So we've got some people that listen
Speaker 3: to this who are PhD economists and university professors. That's great,
Speaker 3: they understand everything I'm saying. We've got other people. We
Speaker 3: have We have high school kids and even junior high
Speaker 3: kids who listened to the We we have college students,
Speaker 3: we have young professionals. We have people some who study economics,
Speaker 3: others who who are lawyers, others who are doctors, others
Speaker 3: who are who are working mowing lawns. I mean, we
Speaker 3: have the entire array of listeners. What unifies verdict listeners
Speaker 3: is they actually care about the truth and they want
Speaker 3: to know the truth and they're interested. You and I
Speaker 3: have talked about the fact that my wife, Heidi, listens
Speaker 3: regular to this podcast. Now I've been married now twenty
Speaker 3: three years. It's not easy to get your wife to
Speaker 3: listen to anything you do. But the reason she tells
Speaker 3: me she listens to it.
Speaker 1: Yeah, I mean, I know, you know, you just hope
Speaker 1: me up. Trust me. I'm on the same We're on
Speaker 1: the same boat on this one, my friend.
Speaker 3: But you know why Heidi says she listens to it.
Speaker 3: She says she learns things. It's actually useful and helpful
Speaker 3: to her on a topic.
Speaker 2: And so.
Speaker 3: Let's talk about the second function of prices. One is
Speaker 3: the relative value of one good or service visa of
Speaker 3: the another. But another function, how is a price determined?
Speaker 3: And it's determined? So you learn this when you take
Speaker 3: economics one oh one. Typically that's like an introductory college course. Uh.
Speaker 3: A price is determined from the intersection of two lines.
Speaker 3: One line is supply and one line is demand. Now
Speaker 3: what does that mean. Let's explain this in simple terms.
Speaker 3: Let's go back to the fish example. In the fish example,
Speaker 3: you are Ben Ferguson is providing the supply of fish.
Speaker 3: You're out there fishing every day. Now a price the
Speaker 3: supply line is sloped upwards, which means the higher the price,
Speaker 3: the more fish you're going to supply. Why is that
Speaker 3: If fish are suddenly ten bucks apiece, Ben, you're gonna say, hot,
Speaker 3: diggity damn, people like them some fish. Maybe sushi became popular.
Speaker 3: I don't know what it is. They want fish. I
Speaker 3: sell a fish, I get ten bucks. That means I
Speaker 3: get to buy all sorts of other stuff I really
Speaker 3: care about. And so maybe Ben, you had one fishing boat,
Speaker 3: but fish went up to ten dollars, You're like, we're
Speaker 3: going to expl expand supply because this price is really
Speaker 3: attractive to me. I'm going to go buy me two
Speaker 3: other boats because I want to make more fish. Because
Speaker 3: at ten bucks of fish, it's really profitable. So supply
Speaker 3: will increase if the price goes up. On the other hand,
Speaker 3: if the price goes down down, if suddenly instead of
Speaker 3: three bucks for fish, fish is a dollar at a minimum,
Speaker 3: you're going to say, you know, I'm not interested in
Speaker 3: investing any more capital in this business. I'm definitely not
Speaker 3: buying another vote, and I might not even be able
Speaker 3: to survive in this business because the price has gotten
Speaker 3: so low. So the price gives a signaling effect to
Speaker 3: the producers of how much to invest in producing the product.
Speaker 3: In any business, in any product, there are two and
Speaker 3: only two inputs, labor and capital. Labor is maybe you
Speaker 3: hire three other fishermen. That's one way of increasing your production.
Speaker 3: If you had one fisherman and you hired two more,
Speaker 3: you're going to produce more fish. Another way of increasing
Speaker 3: your production is more capital. You get two more boats.
Speaker 3: That's another way of producing more capital. It is the
Speaker 3: price that gives you the instantaneous signaling effect to know
Speaker 3: do I need to invest more or less in my
Speaker 3: fishing business. By the way, if the price stays at
Speaker 3: ten minus fish, I might decide screw it with these apples.
Speaker 3: I'm getting me a boat. I'm getting into the fishing business.
Speaker 3: I'm tired of a dollar an apple for apples.
Speaker 1: Now.
Speaker 3: The other line on the graph is the demand curve,
Speaker 3: and the demand curve slopes downward, And what that means
Speaker 3: is the higher the price, the less demand. So if
Speaker 3: fish or a hundred bucks of fish, I may love
Speaker 3: me some fish like, Oh, it's delicious stuff.
Speaker 1: I love it.
Speaker 3: But at a hundred bucks, you know what, I'm eating
Speaker 3: the apples. I don't want any fish at a hundred bucks.
Speaker 3: I can't afford it. Nope, I am not in the
Speaker 3: fish business if it's a hundred bucks. So in my hypothetical,
Speaker 3: let's assume at a hundred bucks, demand for fish is zero
Speaker 3: because no one can afford it, or it's so high
Speaker 3: they don't want it. Now, as the price of fish
Speaker 3: gets cheaper and cheaper and cheaper, if fish is three bucks,
Speaker 3: I may say, all right, I like fish. Maybe I
Speaker 3: go have fish once a week or twice a week.
Speaker 3: That's what I feed my family. It's a good choice.
Speaker 3: And a fish get even cheaper than that fish dropped
Speaker 3: to a do I might say, you know what, even
Speaker 3: though I like beef, if I can't afford beef anymore
Speaker 3: and fish has suddenly become really expensive, I'm going to
Speaker 3: have fish five days a week. And so demand responds
Speaker 3: to price. The lower price gets typically the more demand increases.
Speaker 3: And if you look at it as an economic and
Speaker 3: mathematical matter, the price is the intersection between those two
Speaker 3: lines between supply and demand. Now, why is Kamala Harris's
Speaker 3: Soviet price fixing such a bad idea because history has
Speaker 3: told us that government bureaucrats, all government bureaucrats are absolutely
Speaker 3: terrible at fixing prices. And there's a reason, frankly, nobody
Speaker 3: is smart enough to do this, right, You're not, I'm not.
Speaker 3: Nobody is if you look at free enterprise, you look
Speaker 3: at capitalism, you look at the market, Supply and demand
Speaker 3: are responding to milli millions of factors simultaneously to set
Speaker 3: the price, and those prices change the behavior. So if
Speaker 3: you're a fisherman and the cost of your inputs go up,
Speaker 3: suppose you use fishing nets and the cost of fishing
Speaker 3: nets go from ten dollars to twenty dollars. That's an input,
Speaker 3: you know, and you're like, okay, I got to buy
Speaker 3: fishing nets. My nets are more expensive, so I have
Speaker 3: to raise the price. You respond instantaneously to that, you
Speaker 3: know what. Nobody in government is smart enough to know that,
Speaker 3: and Kamala Harris most certainly is not smart enough to
Speaker 3: know that. So what happens. What the Soviet Union did
Speaker 3: all the time is they would set a price, and
Speaker 3: usually they'd set it too low because by the way.
Speaker 3: Government's incentive is always to give away free stuff. So
Speaker 3: if a normal free market price for a fish was
Speaker 3: three bucks, a politician that wants to be popular is
Speaker 3: going to say a dollar fish for everyone. Look how
Speaker 3: generous I am. And what will happen is what you
Speaker 3: started by saying. Ben in this hypothetical. If it's a
Speaker 3: dollar fish and you discover you can't afford the cost
Speaker 3: to your boat, you can't afford to pay your fishermen,
Speaker 3: you can't afford to buy nets, you know what you're
Speaker 3: gonna do. You're gonna go out of business. And the
Speaker 3: result is no fish. And we saw that the Soviet
Speaker 3: Union in their stores where people would go and they'd
Speaker 3: want rice, they'd want food, they want beans, they'd want fish,
Speaker 3: they'd want apples, and it wasn't there because the government
Speaker 3: that set the price so low that it put people
Speaker 3: out of business.
Speaker 2: The other part that is, and I encourage people show
Speaker 2: this to your kids and your grandkids. You can go
Speaker 2: back and just google supermarkets in Russia or in the
Speaker 2: USSR and you can see extremely long lines and zero selection.
Speaker 2: You got whatever they had, and food that you and
Speaker 2: I would never purchase in the United States of America.
Speaker 2: In fact, it would never be allowed to be sold
Speaker 2: in America with our standards that we have, and that
Speaker 2: became their almost day to day life and reality. That's
Speaker 2: point number one. But there's also a very interesting part
Speaker 2: of history here, and it involves, i think, in such
Speaker 2: a cool way, Houston and NASA, with the USSR leader
Speaker 2: Yeltsin coming to America and he went to NASA and
Speaker 2: then he went to a supermarket. It was an unplanned
Speaker 2: visit to go to this supermarket. It was not far
Speaker 2: from NASA, and he was in total amazement at what
Speaker 2: he saw.
Speaker 3: Well, that's exactly right. And so this was bors Yeltsen
Speaker 3: was the president of Russia. It was nineteen eighty nine,
Speaker 3: and he came to Texas. He came to NASA, and
Speaker 3: then he stopped by a supermarket and he was utterly
Speaker 3: flabbergasted because he looked at the supermarket and he saw
Speaker 3: this incredible array of choices. Houston Chronicle reported Yeltsin, then
Speaker 3: fifty eight years old quote roamed the aisles of Randalls.
Speaker 3: Randall's was popular supermarket chain in Texas, and Houston nodding
Speaker 3: his head in amazement, he told his fellow Russians at
Speaker 3: his entourage that if they're people who must often wait
Speaker 3: in line for most goods, saw the conditions of US supermarkets, quote,
Speaker 3: there would be a revolution, and he was utterly flabbergasted.
Speaker 3: He was used to and so it describes how Yelton
Speaker 3: asked customers about what they were buying and how much
Speaker 3: it cost, later asking the store manager if one needed
Speaker 3: a special education to manage a store. And in the
Speaker 3: photos in the Houston Chronicle, you can see him marveling
Speaker 3: at the produce selection the fresh fish market. We were
Speaker 3: talking about fish. It was literally the price of fish.
Speaker 3: He's looking at it, going wow, wait, you've got salmon,
Speaker 3: You've got tuda, You've got all these different kinds of fish.
Speaker 3: And the checkout counter and he looked especially excited about
Speaker 3: frozen pudding pops. And and here's what he says. He says,
Speaker 3: quote even the Pollit Bureau doesn't have this choice, not
Speaker 3: even mister Gorbachev. And the fact that there were stores
Speaker 3: like this on virtually every street quarter in America amazed him.
Speaker 3: They offered him at Randall's, they offered him free cheese samples,
Speaker 3: and he was shocked. And it played a real role
Speaker 3: in America winning the Cold War, and in convincing him
Speaker 3: that Soviet style price controls doesn't work. And and and
Speaker 3: here let me read what what What What? Yeltson wrote
Speaker 3: in his book that he later wrote, quote, when I
Speaker 3: saw those shelves crammed with hundreds, thousands of cans, cartons,
Speaker 3: and goods of every possible sort, for the first time,
Speaker 3: I felt quite frankly sick with despair for the Soviet people.
Speaker 3: That such a potentially super rich country as ours had
Speaker 3: been brought to a state of such poverty. It is
Speaker 3: terrible to think about it.
Speaker 1: And yet.
Speaker 3: That lesson Kamala Harris hasn't learned, None of her left
Speaker 3: wing little Marxist around her have learned. They just want
Speaker 3: to promise people one dollar fish. And if it doesn't
Speaker 3: work out and suddenly there's no fish, that's not their problem.
Speaker 3: You know what they'll do. They'll blame the greedy fisherman.
Speaker 3: Ben when you shut down your shop because you can't
Speaker 3: afford to sell one dollar fish, They'll say, you're a greedy,
Speaker 3: voracious capitalist, and why are you trying to deny the
Speaker 3: hungry people they're fish? That, sadly is the same thing
Speaker 3: Stalin said, and you know what, if if Kamala were Stalin,
Speaker 3: maybe she'd send you to the Gulac.
Speaker 2: You look at the fact that in twenty twenty four
Speaker 2: we are here at this point where it just seems
Speaker 2: that the new strategy of the left. And I keep
Speaker 2: saying it because I believe it. I think the Democratic
Speaker 2: Party's dead. I think they're filled with communists and Marxists
Speaker 2: and socialists masquerading as Democrats.
Speaker 1: I think that's another data point to that.
Speaker 2: But when you look at this, it just seems like
Speaker 2: their new game plan is, Okay, if we're down in
Speaker 2: the polls, we got to buy bote votes from a sector.
Speaker 1: How do we do it?
Speaker 2: Last time it was all right, we'll just buy votes
Speaker 2: from people that have student loans, right, And that worked
Speaker 2: pretty well for them.
Speaker 3: Yeah, it was successful. They gave away a trillion dollars
Speaker 3: they didn't have. It was illegal for them to give
Speaker 3: They were lying about it, but they were counting on
Speaker 3: young people being foolish and gullible and believing it, and
Speaker 3: at least some did. And by the way, they're trying
Speaker 3: to repeat that same scam again. They're counting on people
Speaker 3: being even more gullible. You know, as the old saying goes,
Speaker 3: there's no learning from the second kick of a mule.
Speaker 3: Joe Biden and Kamala Harris kicked young people once and
Speaker 3: they discovered they were lying with the t a dollar
Speaker 3: student loan giveaway. They're trying to kick them a second time,
Speaker 3: and they're hoping young voters are foolish enough to be
Speaker 3: deceived yet again.
Speaker 1: And if they do go through with this.
Speaker 2: I go back to Obamacare and when it was pretty
Speaker 2: clear that you know, they weren't joking when they said
Speaker 2: we won't know what's in the bill until we passed
Speaker 2: the bill, right, and then they did, and then we
Speaker 2: saw our entire healthcare system up ended overnight. My worry
Speaker 2: is this could happen that quickly as well, except with
Speaker 2: even I think more catastrophic consequences. Because you look at
Speaker 2: the big, big grocery stores. They're in business to make
Speaker 2: money for their shareholders or private equity or families. Right,
Speaker 2: We've already seen the squeezing out of the mom and
Speaker 2: pop grocery stores because they couldn't compete with the prices
Speaker 2: of the big dog. So now we have, you know,
Speaker 2: very few grocers nationwide that have the mass majority of
Speaker 2: the marketplace. But if Harris gets elected and really implements
Speaker 2: this idea, you could see these grocery stores being shit
Speaker 2: down left and right.
Speaker 3: And by the way, it will not be uniformly distributed.
Speaker 3: You know who would be hurt the most by Kamala's
Speaker 3: proposal for price fixing a.
Speaker 2: Food places where there's already quote food deserts and heavy
Speaker 2: highly populated minority communities are those that are poor communities
Speaker 2: as well.
Speaker 3: My god, Ben, it's almost like you understand basic economics. Yeah,
Speaker 3: Kamala doesn't know that.
Speaker 1: Listen.
Speaker 3: I know Kamala well. I served with her for many
Speaker 3: years in the Senate. She has no idea, and you
Speaker 3: and I didn't rehearse this. I didn't know you'd know that.
Speaker 3: I just know you're a really bright guy who understands
Speaker 3: the world, and so I was fairly confident you'd know that.
Speaker 3: She doesn't. If I asked her that same question, she'd like,
Speaker 3: I don't know, what do you mean? And listen, understand,
Speaker 3: even with this price fixing, rich people will be by
Speaker 3: and large are right whole foods, and fancy neighborhoods will
Speaker 3: still have really expensive wine and cheese. You may remember
Speaker 3: when Barack Obama was running for president. At one point
Speaker 3: he said, have you seen the price of arugula? Which
Speaker 3: which was a fairly amazing level of disconnectedness. All right,
Speaker 3: I want to I want to test something. Ben, You
Speaker 3: and I are both guys. I'm gonna guess I don't
Speaker 3: know this, but I'm gonna guess you're not a huge
Speaker 3: grocery shopper in the family. How much is a dozen eggs?
Speaker 3: You're gonna laugh. I'm gonna go right now. The ones
Speaker 3: that have to be quote cage free. They're about four
Speaker 3: bucks at the moment, three seventy eight.
Speaker 1: Okay, you look that up.
Speaker 3: You didn't know.
Speaker 2: No, you're gonna laugh that. This is I love to cook.
Speaker 2: That's my I love to cook. That's why I'd start
Speaker 2: a barbecue restaurant. So I actually enjoy going to the
Speaker 2: grocery store.
Speaker 1: All right.
Speaker 3: So that's fascinating. So as I was sitting here, we're
Speaker 3: getting ready to do this podcast. You may remember George
Speaker 3: Herbert Walker Bush was famously lambasted because he didn't know
Speaker 3: how much a gallon of milk was and he was
Speaker 3: painted as this out of touch wealthy guy. Right before
Speaker 3: we started recording this pod, I googled how much for
Speaker 3: a dozen eggs, and I think the average price right
Speaker 3: now is three dollars an eight sense, but I wasn't
Speaker 3: googling the cage free organic, you know, brown funky eggs.
Speaker 3: I will say, as a guy, this may shock you,
Speaker 3: but I am not typically the grocery shopper in our family.
Speaker 3: I will go grocery shopping on occasion, but it's usually
Speaker 3: because my daughter is cooking a meal and she's like, Dad,
Speaker 3: will you get me some pasta and tomatoes and garlic,
Speaker 3: And She'll give me a list and I'll go, I'll
Speaker 3: go with my list and get it. I do go
Speaker 3: occasionally get fruit. I like going to the produce thing
Speaker 3: and getting some nectarines and plums and grapes and cherries,
Speaker 3: and so I'll just kind of collect that. I bought
Speaker 3: a dozen eggs a number of times before, but I
Speaker 3: have no freaking clue how much they are. I mean,
Speaker 3: I just I don't buy eggs very often, and so
Speaker 3: it's just not it's not front of mine to me.
Speaker 3: But I will say the idea that you can just
Speaker 3: magic change it. By the way, Joe Biden did this
Speaker 3: same thing right before the last election, and the price
Speaker 3: of gasoline. So the price of gasoline has risen massively
Speaker 3: under Joe Biden Kamala Harris. Now this was an intended effect.
Speaker 3: They want the price of gasoline higher, but as they
Speaker 3: get closer to an election, they realize, oh crap, this
Speaker 3: is a problem because it turns out voters don't like
Speaker 3: paying more at the pump or paying more at the
Speaker 3: grocery store. So right before election day they need a
Speaker 3: short term fix. So what Joe Biden did last time.
Speaker 3: Number one, he released a bunch of oil from the
Speaker 3: Strategic Petroleum Reserve that is designed to be there for emergencies,
Speaker 3: and he did that to increase supply, impacting price because
Speaker 3: more supply lowers price. But he also, if you remember,
Speaker 3: Joe Biden attacked the greedy gas station owners, which is
Speaker 3: an economic matter. Is about as ludicrous as anything you
Speaker 3: could come up with. Look, if you're owning a gas station,
Speaker 3: most gas day owners or small business owners, they're often
Speaker 3: they own maybe one or two gas stations, many of
Speaker 3: them in Houston, I suspect across the country. Many of
Speaker 3: them are immigrants. Many of them know this is their business.
Speaker 3: Their family works, they're often their kids are working at
Speaker 3: the gas station too. They are not price makers when
Speaker 3: it comes to gasoline. They are price takers. They don't
Speaker 3: have sufficient market influence to set the price markedly different
Speaker 3: from what the price is being set by global supply
Speaker 3: and demand. But yet Joe Biden, and by the way,
Speaker 3: the useful idiots in the media, he demagogue those mean,
Speaker 3: greedy capitalists that own gas stations. They're just charging you
Speaker 3: seven bucks a gallon because they're mean, because they're greedy.
Speaker 3: And by the way, the premise of this was that
Speaker 3: during Donald Trump, apparently those capitalists were not greedy. They
Speaker 3: didn't want money, and it was only when Democrats came
Speaker 3: to office that they wanted to make a profit. Look,
Speaker 3: every business owner would love to sell their goods for
Speaker 3: a higher price, but it is driven by the cost
Speaker 3: of their inputs, and it's driven by demand. Those are
Speaker 3: the factors they're facing. And what she is doing is
Speaker 3: the same thing that when the price of food has
Speaker 3: skyrocketed because of her policies, she can't take the blame
Speaker 3: for that, so instead she says, the mean mom and
Speaker 3: pop that owns the little grocery store, they're just robbing you.
Speaker 3: So I'm going to order them to stop robbing you.
Speaker 3: And as you noted, the people who are going to
Speaker 3: pay the most are people in low income neighborhoods where
Speaker 3: the stores there are often barely scraping by, and if
Speaker 3: you force them to sell things at below cost, you're
Speaker 3: going to drive them out of business, and you're gonna
Speaker 3: end up having people having much fewer choices and real
Speaker 3: shortages and scarcity because and you end up in the
Speaker 3: scenario where you mandate, let's go back to my fish
Speaker 3: hypothetical one dollar fish when the cost of producing a
Speaker 3: fish is let's say two dollars, you end up with
Speaker 3: no fish because you bankrupt the producers or people decide
Speaker 3: to do something else. And it's why in the Soviet
Speaker 3: Union are in Venezuela. Look Venezuela. Venezuela used to be
Speaker 3: the third wealthiest country in the world per capita in
Speaker 3: nineteen fifty. The United States was number one, New Zealand
Speaker 3: was number two. Venezuela was number three. You look at
Speaker 3: what Maduro has done, you look at what socialism has done.
Speaker 3: And by the way, Maduro in Venezuela promised we're going
Speaker 3: to put in place price controls to stop inflation. He
Speaker 3: had the same proposal. Kamala Harris had inflation skyrocket and
Speaker 3: I think it's something like three hundred percent in Venezuela,
Speaker 3: and people are starving now in Venezuela because the food disappeared.
Speaker 3: That's how economically illiterate and disastrous.
Speaker 1: Her proposal is.
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Speaker 2: to switch to another topic Senat that we mentioned earlier,
Speaker 2: and this is another cautionary tel A warning and the
Speaker 2: border doesn't seem to give a crap. A Palestinian on
Speaker 2: the terror watch list was arrested on the southern US border.
Speaker 3: That's exactly right. It's an individual named Omar Shaheda who
Speaker 3: is accused of explosives and arms use and was caught
Speaker 3: in Santa Theresa, New Mexico. Omar Shaheda is a Palestinian
Speaker 3: from Juday and Samaria, and he is on the terror
Speaker 3: watch list for alleged prior use of explosives at arms.
Speaker 3: He was arrested. The New York Post reported, and let
Speaker 3: me read from the memo that has been leaked showing
Speaker 3: the arrest notification of the suspected Palestinian terrorist. The arrest
Speaker 3: notification says, on August twelfth, twenty twenty four, Border Patrol
Speaker 3: agents assigned to the Sanatresa Border Patrol Station encountered a
Speaker 3: person with a terror screening data sent record. At approximately
Speaker 3: one ten am, agents apprehended a group of seven individuals
Speaker 3: who legally entered the United States from Mexico near Santa Theresa,
Speaker 3: New Mexico. During processing, research revealed that Omar nawaf Issa
Speaker 3: Shaheda was a possible match to a terror watch list record.
Speaker 3: Border Patrol agents at the National Targeting Center generated an
Speaker 3: NTC event. Shejeda was confirmed to be a positive match
Speaker 3: and is watch listed as a Category fifteen used explosives
Speaker 3: slash arms. Global Appis revealed that Scheheda traveled from Madrid,
Speaker 3: Spain to Bogoa, Columbia on a flight with a connecting
Speaker 3: flight to Panama City, and that Scheheda arrived in San Salvador,
Speaker 3: El Salvador on a flight and Sjeda is currently being held.
Speaker 3: He was encountered as a single adult. Now this is
Speaker 3: a pattern. Weeks earlier, three other suspected Palestinian terrorists were
Speaker 3: caught at the California border. Those and we talked about
Speaker 3: those three on this podcast previously. One of them had
Speaker 3: a photo on their phone including pictures of a masked
Speaker 3: man holding an AK forty seven rifle Kamala Harris. The
Speaker 3: borders are is responsible for an open border that continues
Speaker 3: to be a magnet inviting terrorists to come into this country,
Speaker 3: and in fact, an alert that was issued by the
Speaker 3: Border Patrol said quote individuals inspired by or reacting to
Speaker 3: the current Israel Hamas conflict may attempt to travel to
Speaker 3: or from the area of hostilities in the Middle east
Speaker 3: via circuitous transit across the southwest border. This is what
Speaker 3: Kamala Harris's open border is doing to us.
Speaker 2: You look at this and you put it together with
Speaker 2: the fact that they say she's not the borders are,
Speaker 2: and then she says, oh, I'm doing everything I can
Speaker 2: to protect you at the border. It doesn't match up.
Speaker 2: It's just lie after lie after lie after lie. And
Speaker 2: you look at these gang leaders that are arrested, You
Speaker 2: look at the children that are being assaulted. Unfortunately, now
Speaker 2: it's on a weekly basis. We also know, and I
Speaker 2: think we should just remind people that the system is
Speaker 2: so broken now that the administration has just been busted
Speaker 2: handing kids over to non family members, okay, non family
Speaker 2: members a lost track. Within a month, a third of
Speaker 2: the kids are hand over to their quote sponsors who
Speaker 2: are non family members, with no response and no follow
Speaker 2: up from the federal government. So, in other words, a
Speaker 2: handed child over to a non family member, they call
Speaker 2: thirty days later to check in, No one answers, no
Speaker 2: one's talking to them, and they can't find the kid.
Speaker 2: And that's apparently happening with at least a third of
Speaker 2: the kids that they're bringing into this country.
Speaker 1: That is pure evil. It is pure evil.
Speaker 3: And I'll tell you that the New York Times is
Speaker 3: even reporting on this, and they're reporting Javier Bessera, who
Speaker 3: is the Secretary of Health and Human Services. He has
Speaker 3: no background in healthcare, He has no background. He's not
Speaker 3: a physician, he doesn't know anything about healthcare. But what
Speaker 3: he is is a radical left wing lawyer who was
Speaker 3: the Attorney General of California. And that's who Joe Biden
Speaker 3: Kamala Harris wanted in charge of HHS, and AHHS is
Speaker 3: the one that deals with unaccompanied miners. And we've seen
Speaker 3: an explosion of unaccompanied miners coming into this country because
Speaker 3: Joe Biden Kamala Harris opened up the border and it
Speaker 3: ended up with a lot of little boys and a
Speaker 3: lot of little girls being trafficked in by human traffickers,
Speaker 3: being abused, many of them physically, many of them sexually.
Speaker 3: But then when they get here, the Biden administration had
Speaker 3: a problem, and they had a problem because they wanted
Speaker 3: to avoid kids in cages. They had made a huge
Speaker 3: deal of it under Donald Trump. Never mind that the
Speaker 3: actual cages were built by Barack Obama, but they wanted
Speaker 3: to avoid the bad optics of having kids in cages
Speaker 3: under Joe Biden. So what they did is they began
Speaker 3: releasing young people and releasing them to adults who who
Speaker 3: couldn't pass basic background checks. And when people in the
Speaker 3: system said, wait, we don't know who these adults are.
Speaker 3: We don't know if they're bad people. We don't know
Speaker 3: if they're looking for kids to work in child labor
Speaker 3: and slave labor. We don't know if they're violent. We
Speaker 3: don't know if they want to abuse the kids.
Speaker 1: You know, what have you hear?
Speaker 3: Bessera said, shut up and release them faster. And so
Speaker 3: let me read from the Wall Street Journal. This is
Speaker 3: an article on July eighth and the Wall Street Journal.
Speaker 3: In twenty twenty one, when the new Biden administration was
Speaker 3: struggling to cope with a sudden influx of unaccompanied migrant
Speaker 3: children at the US Mexico border, the government repeatedly overrode
Speaker 3: the concerns of lower lefele workers who warned about placing
Speaker 3: them in certain households. Documents and interviews show quote, it
Speaker 3: does not appear safe for the minor to be released
Speaker 3: to a home environment that was not fully assessed. A
Speaker 3: caseworker road about a child slated to live in a
Speaker 3: hostile like home in Florida with at least three adults.
Speaker 3: A few days later, unofficial dismissed the recommendation to reject
Speaker 3: the proposed guardian. According to internal government memos, at another
Speaker 3: facility in Pomona, California, about thirty miles east of Los Angeles,
Speaker 3: more than one hundred children that summer were sent to
Speaker 3: temporary guardians who were issued denials early in the process
Speaker 3: by case coordinators. According to a review of internal government
Speaker 3: data that tracks on accompanied children, emails and other communications
Speaker 3: and interviews with caseworkers, about two dozen more denials were
Speaker 3: overturned because of clerical errors or issues such as missing
Speaker 3: fingerprints that were resolved, record show, but many of the
Speaker 3: others were approved with scant details explaining why, and stunningly,
Speaker 3: the Wall Street Journal couldn't determine what happened to the
Speaker 3: children after they left the facility. Joe Biden and Kamala
Speaker 3: Harris have lost over eighty thousand children that came as
Speaker 3: unaccompanied miters to this country. They don't know where they are,
Speaker 3: they don't know who has them, they don't know what
Speaker 3: has happened to the kids. And you know what Kamala
Speaker 3: Harris has zero interest in finding the answer to that.
Speaker 3: She will never talk about it. Mind you, she was
Speaker 3: the borders are, she still is, and yet losing eighty
Speaker 3: thousand children apparently doesn't concern her at all.
Speaker 2: Yeah, and there doesn't seem to be accountability for this either.
Speaker 2: Is there anything that Congress can do now, knowing what
Speaker 2: we just learned in that report.
Speaker 3: There's a lot Congress can do, but in the Senate,
Speaker 3: the Senate will do none of it. And the reason
Speaker 3: is the Democrats, who are in the majority of the
Speaker 3: Senate do not care. I've raised this issue repeatedly in
Speaker 3: the Judiciary Committee. You know what, Democrats in charge Judiciary.
Speaker 3: We have not had a single hearing in four years
Speaker 3: on the crisis at our southern border. We've had multiple
Speaker 3: hearings on the Democrats desired to grant amnesty to illegal aliens.
Speaker 3: We have not had a hearing in Judiciary on the
Speaker 3: eighty thousand kids that Joe Biden Kamala Harris has lost
Speaker 3: because the Democrats want to cover it up. And listen,
Speaker 3: we know that some significant number of those individuals are
Speaker 3: in child labor work sites, are being abused, are being
Speaker 3: physically abused, are being sexually abused. If you look for example,
Speaker 3: I'm gonna go back to the Wall Street Journal article
Speaker 3: that says following an internal investigation, the Inspector General for
Speaker 3: the US Department of Health and Human Services, which oversaw
Speaker 3: a network of shelters caring for ant accompanied minors, found
Speaker 3: gaps in the process to screen temporary guardians. It said
Speaker 3: in February that sixteen percent sixteen percent of records for
Speaker 3: children who were released to sponsors in March and April
Speaker 3: twenty twenty one lacked evidence that a required safety check
Speaker 3: was conducted.
Speaker 1: Quote.
Speaker 3: Although well intentioned, these sites were unregulated and unsafed, said
Speaker 3: Niha Desai, the senior director of Immigration at the National
Speaker 3: Center for Youth Law. There was enormous pressure placed on
Speaker 3: the sites to rapidly release children from custody, and the
Speaker 3: Biden Harris administration pressed them to release. At these emergency shelters,
Speaker 3: case workers were told to discharge children within ten to
Speaker 3: fourteen days, and so they released kids without knowing if
Speaker 3: the people they were giving them too were dangerous, without
Speaker 3: knowing what was happening, and yet tragically the result is
Speaker 3: many kids suffered horrific mistreatment.
Speaker 1: It is an election your issue.
Speaker 2: And this is what I hope the Trump administration, the
Speaker 2: Trump team, i should say, is going to do, is
Speaker 2: to lay out much of what we have laid out
Speaker 2: here for the American people to hear because it is
Speaker 2: such shocking news when you listen to the reports, and
Speaker 2: this is reports from our own government that are stating this.
Speaker 2: People are losing their jobs because they're trying to protect
Speaker 2: the kids. And they said, if you don't move them
Speaker 2: through the system fast enough for us, then you can
Speaker 2: find another job.
Speaker 3: You're done here. I'll find some politics over people. And
Speaker 3: that is the consistent pattern of Joe Biden, Kamala Harris.
Speaker 3: It's always, always always politics. And if people have to die,
Speaker 3: if women have to be sexually assaulted, if children have
Speaker 3: to be brutalized, they're willing to look the other way
Speaker 3: if they believe there's a political benefit for the Democrats.
Speaker 1: Don't forget. We do this show Monday, Wednesday, and Friday.
Speaker 2: We do a week in review of what you may
Speaker 2: have missed during the week on Saturdays as well, so
Speaker 2: make sure you hit that subscribe or auto download button
Speaker 2: and those in between days grab my podcast, The Ben
Speaker 2: Ferguson Podcasts. I'll keep you up to date on the
Speaker 2: latest breaking news. The Senator and I will see you
Speaker 2: back here Saturday morning for the week in review.