1 00:00:02,000 --> 00:00:05,440 Speaker 1: Inflation numbers are out and stock good, and talk to 2 00:00:05,480 --> 00:00:07,760 Speaker 1: Carol Roth about that. I'm going to talk to Ross 3 00:00:07,840 --> 00:00:12,080 Speaker 1: Kennedy about supply chains. We have the system taking care 4 00:00:12,080 --> 00:00:13,920 Speaker 1: of its own. All that more coming up tonight. And 5 00:00:13,960 --> 00:00:28,080 Speaker 1: I'm right, inflation sucks. It sucks to be going into 6 00:00:28,080 --> 00:00:32,040 Speaker 1: this economic downturn. That's such a nice way to put 7 00:00:32,040 --> 00:00:34,920 Speaker 1: what we're going into here. And I did, look, I 8 00:00:35,000 --> 00:00:36,360 Speaker 1: know it's gonna be a bit of a down. We 9 00:00:36,360 --> 00:00:38,839 Speaker 1: gotta talk about some crappy numbers. What else can we 10 00:00:38,880 --> 00:00:43,760 Speaker 1: do but laugh. We are, however, in the early stages. 11 00:00:44,440 --> 00:00:47,640 Speaker 1: Please understand that and prepare accordingly. I don't tell you 12 00:00:47,640 --> 00:00:49,720 Speaker 1: that to scare you. I tell you that so you 13 00:00:49,760 --> 00:00:53,120 Speaker 1: can make preparations, whatever preparations you can make. We are 14 00:00:53,159 --> 00:00:56,640 Speaker 1: not whole, just about to come out of this economic downturn. 15 00:00:57,200 --> 00:01:01,319 Speaker 1: This is the beginning. This is the beginning. At eight 16 00:01:01,320 --> 00:01:03,480 Speaker 1: point three percent inflation, that's the news of the day. 17 00:01:04,319 --> 00:01:08,200 Speaker 1: They were expecting it to be lower. Before you get 18 00:01:08,240 --> 00:01:10,560 Speaker 1: ahead of yourself there. Why were they expecting it to 19 00:01:10,600 --> 00:01:14,760 Speaker 1: be lower because gas was down? Well that's great, right, 20 00:01:14,800 --> 00:01:17,080 Speaker 1: we've saw that. No, no, no, no, you don't understand. 21 00:01:18,240 --> 00:01:23,640 Speaker 1: Gas was down for two reasons One, we are draining 22 00:01:23,680 --> 00:01:26,680 Speaker 1: our strategic oil reserve at a level we haven't seen 23 00:01:26,920 --> 00:01:30,360 Speaker 1: in decades. They're doing that to artificially keep the prices low. 24 00:01:30,959 --> 00:01:34,600 Speaker 1: By the way, that's a national security issue. We need 25 00:01:34,640 --> 00:01:38,440 Speaker 1: a large strategic oil reserve in order to conduct any 26 00:01:38,520 --> 00:01:41,400 Speaker 1: kind of a large scale war. If we don't have 27 00:01:41,520 --> 00:01:45,039 Speaker 1: that oil, we're simply going to lose. You realize that, right. 28 00:01:45,280 --> 00:01:50,040 Speaker 1: Those jets don't fly on solar panels. Neither do those boats. Anyway, Anyway, 29 00:01:50,120 --> 00:01:54,160 Speaker 1: setting out aside, let's talk about why it didn't go 30 00:01:54,200 --> 00:01:57,400 Speaker 1: down because gas was down. Well, the cost of food 31 00:01:57,840 --> 00:02:01,840 Speaker 1: went up so much that it canceled out any gains 32 00:02:01,880 --> 00:02:05,160 Speaker 1: we would have made from gas. How bad is it who? Well, 33 00:02:06,160 --> 00:02:11,440 Speaker 1: fuel oil is up nearly seventy percent, gas twenty six, 34 00:02:11,720 --> 00:02:15,680 Speaker 1: air fares thirty three, eggs forty, milk seventeen, groceries thirteen 35 00:02:15,680 --> 00:02:19,480 Speaker 1: point five, electricity sixteen. Oh and by the way, you're earnings, 36 00:02:19,560 --> 00:02:23,600 Speaker 1: real hourly earnings, earnings, they're down close to three percent. 37 00:02:24,200 --> 00:02:29,160 Speaker 1: That is catastrophic for people, especially people on the lower 38 00:02:29,240 --> 00:02:32,000 Speaker 1: end of the economic spectrum. If you're lower middle class 39 00:02:32,120 --> 00:02:35,240 Speaker 1: or poor, this does more than hurt You're watching your 40 00:02:35,280 --> 00:02:37,880 Speaker 1: standard of living evaporate. I hear these stories from people 41 00:02:37,880 --> 00:02:40,320 Speaker 1: all the time. Now, even middle class people say, Hey, 42 00:02:41,240 --> 00:02:43,720 Speaker 1: my power bill is so bad. I don't I don't 43 00:02:43,720 --> 00:02:46,160 Speaker 1: know what to do. Hey, we're having to cancel theys. 44 00:02:46,200 --> 00:02:49,440 Speaker 1: Hey we cut cable. Hey, we're already seeing standard of 45 00:02:49,520 --> 00:02:52,959 Speaker 1: living going down. And one of the things we talked 46 00:02:52,960 --> 00:02:54,480 Speaker 1: about before on the show, and I really do I 47 00:02:54,520 --> 00:02:58,760 Speaker 1: find it fascinating, is how bad Joe Biden lies, how 48 00:02:58,880 --> 00:03:03,000 Speaker 1: much he lies. Again, I'm not a child. All politicians 49 00:03:03,040 --> 00:03:06,520 Speaker 1: lie in All presidents lie, Republicans and Democrats, they all lie, 50 00:03:06,880 --> 00:03:09,800 Speaker 1: fudge the truth a little here, lie about that there. 51 00:03:10,440 --> 00:03:15,079 Speaker 1: This administration. I don't know whether it's arrogance, whether he's 52 00:03:15,120 --> 00:03:18,080 Speaker 1: just a full blown sociopath. That's probably it, because he 53 00:03:18,120 --> 00:03:20,640 Speaker 1: has made a whole career out of this. They tell 54 00:03:20,760 --> 00:03:25,079 Speaker 1: lies that are blake. We got horrible inflation numbers out 55 00:03:25,080 --> 00:03:28,679 Speaker 1: there today. Oh Joe says, we're for surgeon, building an 56 00:03:28,680 --> 00:03:32,600 Speaker 1: economy that finally works from working families. We started with 57 00:03:32,639 --> 00:03:36,520 Speaker 1: the American rescue plans. That's taken us from economic crisis 58 00:03:36,600 --> 00:03:43,640 Speaker 1: to economic resurgence. Man, that's great news. Here. I was worried. 59 00:03:44,000 --> 00:03:48,080 Speaker 1: Joining me now, my friend Carol Roth recovering investment banker, 60 00:03:48,200 --> 00:03:50,640 Speaker 1: author of the book The War on Small Business. I 61 00:03:50,640 --> 00:03:53,600 Speaker 1: gotta be honest, Carol. I woke up today, rolled over, 62 00:03:54,080 --> 00:03:56,840 Speaker 1: wiped a sleep out of my eyes, saw these inflation numbers, 63 00:03:56,840 --> 00:03:59,400 Speaker 1: and I was worried. But then I heard Joe Biden. 64 00:03:59,480 --> 00:04:03,280 Speaker 1: Now I'm not stressing a thing. Yeah, he got the 65 00:04:03,920 --> 00:04:09,440 Speaker 1: word surging and resurgence mixed up. The inflation is surging, 66 00:04:09,640 --> 00:04:12,760 Speaker 1: but that is not a resurgence of the economy, or 67 00:04:12,800 --> 00:04:15,520 Speaker 1: perhaps it is in his world in a good way. 68 00:04:16,440 --> 00:04:20,040 Speaker 1: But I mean, my goodness, today's inflation report, which we 69 00:04:20,040 --> 00:04:23,039 Speaker 1: were hoping would give us, you know, some know, not 70 00:04:23,279 --> 00:04:26,240 Speaker 1: great news, but at least a path to say things 71 00:04:26,279 --> 00:04:29,960 Speaker 1: are getting better, was just a hot mess on every 72 00:04:30,000 --> 00:04:34,800 Speaker 1: single facet, on the headline number, on the core number, 73 00:04:34,800 --> 00:04:39,120 Speaker 1: which takes out food and energy month over month, Like 74 00:04:39,200 --> 00:04:41,920 Speaker 1: there was no way to slice and dice it where 75 00:04:41,960 --> 00:04:44,680 Speaker 1: we could go, Well, you know, here's something good that 76 00:04:44,720 --> 00:04:46,960 Speaker 1: we could hang our hat on. I guess perhaps that 77 00:04:47,040 --> 00:04:50,040 Speaker 1: it didn't go up year over a year, but you know, 78 00:04:50,080 --> 00:04:52,120 Speaker 1: we kind of knew that wasn't going to happen anyway. 79 00:04:52,800 --> 00:04:55,559 Speaker 1: But yeah, I mean, right to live in Joe Biden's world, 80 00:04:55,640 --> 00:04:57,120 Speaker 1: where you know, all you have to worry about is 81 00:04:57,160 --> 00:04:59,160 Speaker 1: what flavor pudding snack you're going to have that night. 82 00:04:59,279 --> 00:05:03,640 Speaker 1: So good for him, Carol. Okay, now I want you 83 00:05:03,680 --> 00:05:07,839 Speaker 1: to unpack this for people, actually for me. Headline number 84 00:05:07,960 --> 00:05:12,240 Speaker 1: versus core number? What are those things? So the headline 85 00:05:12,400 --> 00:05:16,400 Speaker 1: print is the CPI on a sort of year over 86 00:05:16,560 --> 00:05:19,440 Speaker 1: year basis that everybody looks at. It looks at all 87 00:05:19,640 --> 00:05:23,800 Speaker 1: different facets that they calculate in terms of inflation. This 88 00:05:23,920 --> 00:05:27,520 Speaker 1: is just one measure of inflation. As we've talked about before, 89 00:05:28,000 --> 00:05:32,159 Speaker 1: it's somewhat of a misnomer. They have manipulated the calculation 90 00:05:32,360 --> 00:05:35,120 Speaker 1: so many times, you know, since the nineteen eighties that 91 00:05:35,160 --> 00:05:40,040 Speaker 1: it doesn't really truly reflect the pain that you are feeling. 92 00:05:40,240 --> 00:05:42,400 Speaker 1: But you know, it is a data point that we use, 93 00:05:42,440 --> 00:05:44,400 Speaker 1: and we all kind of take it with a grain 94 00:05:44,480 --> 00:05:48,839 Speaker 1: of salt. The core number is when they back out 95 00:05:49,040 --> 00:05:52,440 Speaker 1: food and energy, their thoughts are, well, you know, no 96 00:05:52,480 --> 00:05:56,599 Speaker 1: matter what happens, people aren't going to change their lives. 97 00:05:56,600 --> 00:05:58,960 Speaker 1: It's not going to change demand much because obviously you 98 00:05:59,000 --> 00:06:01,120 Speaker 1: need to heat to eat, you need to put gas 99 00:06:01,160 --> 00:06:04,360 Speaker 1: in your car. So it's a secondary measure of inflation. 100 00:06:04,839 --> 00:06:08,760 Speaker 1: And you know, we knew that that energy prices, you know, 101 00:06:08,800 --> 00:06:11,120 Speaker 1: hadn't been going up and then coming back down again. 102 00:06:11,839 --> 00:06:15,599 Speaker 1: They actually the gasoline from month to month was a 103 00:06:15,680 --> 00:06:19,760 Speaker 1: much better number, but increases in food prices, increases in 104 00:06:19,839 --> 00:06:25,320 Speaker 1: shelter prices, and increases in medical care services more than 105 00:06:25,520 --> 00:06:29,440 Speaker 1: wiped out any of the gains quote unquote gains we 106 00:06:28,960 --> 00:06:31,520 Speaker 1: were made on a month to month basis from having 107 00:06:31,560 --> 00:06:34,920 Speaker 1: those lower gasoline prices slightly lower, and again these are 108 00:06:35,000 --> 00:06:38,040 Speaker 1: lower from the top. These are not lower from like 109 00:06:38,240 --> 00:06:42,719 Speaker 1: a year ago or a couple of year signal, Carol, 110 00:06:42,839 --> 00:06:46,159 Speaker 1: I have a question. I'm seeing something that concerns me. 111 00:06:46,200 --> 00:06:48,320 Speaker 1: I'm seeing many things that concern me, but there's something 112 00:06:48,320 --> 00:06:52,120 Speaker 1: out there that's really concerning me right now. What Janet 113 00:06:52,200 --> 00:06:55,960 Speaker 1: Yellen had to say here was Janet Yellen, it's the 114 00:06:56,000 --> 00:06:59,200 Speaker 1: fit is going to need great skill and also some 115 00:06:59,320 --> 00:07:03,600 Speaker 1: good look to achieve what we sometimes call a soft landing, 116 00:07:04,000 --> 00:07:08,560 Speaker 1: which is bringing inflation down while maintaining the strength of 117 00:07:08,600 --> 00:07:12,640 Speaker 1: the labor market. And my hope, I believe there is 118 00:07:12,680 --> 00:07:17,520 Speaker 1: a path to accomplishing that, Okay, Carol. That concerns me 119 00:07:17,520 --> 00:07:20,840 Speaker 1: for a couple different reasons. One, there's not great skill. 120 00:07:21,000 --> 00:07:23,640 Speaker 1: We don't have experts. We certainly don't have experts running 121 00:07:23,640 --> 00:07:26,320 Speaker 1: the finances in this country. That's just not even arguable 122 00:07:26,320 --> 00:07:28,720 Speaker 1: at this point. So, okay, there's no great skill. Even 123 00:07:28,760 --> 00:07:31,200 Speaker 1: if we had great skill, we need luck. That's one 124 00:07:31,200 --> 00:07:33,600 Speaker 1: thing that concerns me. The second thing is this that 125 00:07:33,720 --> 00:07:38,040 Speaker 1: sounds pessimistic. When I hear pessimistic things from people who 126 00:07:38,120 --> 00:07:41,280 Speaker 1: routinely lie to me and tell me how great things are, 127 00:07:41,680 --> 00:07:45,280 Speaker 1: that concerns me greatly that we are just at the 128 00:07:45,480 --> 00:07:48,960 Speaker 1: entry point of something really really ugly. Yeah. I mean, 129 00:07:49,080 --> 00:07:51,960 Speaker 1: Janet Yellen is the same one who's been telling us 130 00:07:52,040 --> 00:07:55,440 Speaker 1: things like inflation is going to be transitory or there 131 00:07:55,480 --> 00:07:59,000 Speaker 1: will be no inflation, and we have to look at 132 00:07:59,040 --> 00:08:03,080 Speaker 1: you six hundred account purchases online to make sure that 133 00:08:03,120 --> 00:08:06,440 Speaker 1: we're making the billionaires pay their fair share. So when 134 00:08:06,480 --> 00:08:11,320 Speaker 1: Janet Yellen is expressing some concern, that is the optimistic 135 00:08:11,400 --> 00:08:14,720 Speaker 1: spin and the challenges that you have the Federal Reserve, 136 00:08:14,800 --> 00:08:18,560 Speaker 1: which as you said, are not experts. They've created this 137 00:08:18,640 --> 00:08:21,920 Speaker 1: situation and now they have, you know, just a very 138 00:08:22,000 --> 00:08:24,200 Speaker 1: limited number of things that they could do to try 139 00:08:24,200 --> 00:08:27,800 Speaker 1: and fix it. The quote unquote tools they have are 140 00:08:27,840 --> 00:08:32,040 Speaker 1: on demand. Side. That means slowing down consumer purchases, slowing 141 00:08:32,040 --> 00:08:35,640 Speaker 1: down business investment. The issue that we have in the 142 00:08:35,679 --> 00:08:38,760 Speaker 1: economy is not on the demand side per se. It's 143 00:08:38,760 --> 00:08:43,560 Speaker 1: the mismatch between supplying demand, and really it's a supply issue. 144 00:08:43,600 --> 00:08:46,480 Speaker 1: We don't have enough food, we don't have enough labor, 145 00:08:46,600 --> 00:08:49,679 Speaker 1: we don't have the right amount of energy to create 146 00:08:49,800 --> 00:08:54,280 Speaker 1: that match. And unfortunately, the Federal Reserve cannot print workers, 147 00:08:54,320 --> 00:08:58,760 Speaker 1: they cannot print oil, they cannot print food. So you know, 148 00:08:58,880 --> 00:09:01,559 Speaker 1: they're stuck with the old only thing that they can do, 149 00:09:01,960 --> 00:09:05,720 Speaker 1: and that is trying to slow things down via interest rates. 150 00:09:06,080 --> 00:09:08,400 Speaker 1: And so that means that they are trying to slow 151 00:09:08,480 --> 00:09:12,199 Speaker 1: the economy. They're trying to slow the economy. And so 152 00:09:13,120 --> 00:09:15,560 Speaker 1: given that sort of scenario and the fact that they're 153 00:09:15,600 --> 00:09:19,360 Speaker 1: not going to be able to supply, that's the concern. 154 00:09:19,440 --> 00:09:23,080 Speaker 1: And the concern is that seeing these high inflation numbers, 155 00:09:23,120 --> 00:09:25,839 Speaker 1: it's going to get them to be even more aggressive, 156 00:09:26,320 --> 00:09:28,880 Speaker 1: even though it's not the right tool to fix the 157 00:09:28,920 --> 00:09:33,160 Speaker 1: problem that we have at hand. Okay, so let me 158 00:09:33,160 --> 00:09:36,000 Speaker 1: see if I understand this correctly. We're already in a recession. 159 00:09:36,040 --> 00:09:37,800 Speaker 1: I don't care how many times they try to change 160 00:09:37,800 --> 00:09:41,599 Speaker 1: the definition. We are officially in a recession, and they're 161 00:09:41,960 --> 00:09:46,160 Speaker 1: trying to slow the economy down more. Carol. This all 162 00:09:46,200 --> 00:09:50,760 Speaker 1: sounds terrible, it does, and the government is trying to 163 00:09:50,800 --> 00:09:55,280 Speaker 1: thwart their efforts by spending more on a government basis 164 00:09:55,320 --> 00:09:58,000 Speaker 1: as well. And that's just what's going on here, Jesse. 165 00:09:58,160 --> 00:10:01,640 Speaker 1: That you have what's going on in internationally. Obviously we 166 00:10:01,760 --> 00:10:05,320 Speaker 1: know Europe is in a world of furreds, completely self 167 00:10:05,360 --> 00:10:09,520 Speaker 1: inflicted because of the energy costs, and China is having 168 00:10:09,640 --> 00:10:13,040 Speaker 1: massive problems because their energy or excusing the real estate 169 00:10:13,040 --> 00:10:15,760 Speaker 1: bubble is popping. So we have all of these factors 170 00:10:15,760 --> 00:10:19,080 Speaker 1: that could contribute to a massive global recession at the 171 00:10:19,120 --> 00:10:21,800 Speaker 1: same time. And that's you know, not even taking into 172 00:10:21,800 --> 00:10:24,000 Speaker 1: account all the things we just talked about. And so 173 00:10:24,040 --> 00:10:27,160 Speaker 1: the FED into all of this is like, yes, we're 174 00:10:27,200 --> 00:10:29,520 Speaker 1: going to have to go higher. And this number, you know, 175 00:10:29,520 --> 00:10:32,440 Speaker 1: we were expecting that they were going to probably have 176 00:10:33,040 --> 00:10:35,480 Speaker 1: seventy five basis points, which is three quarters of a 177 00:10:35,600 --> 00:10:39,480 Speaker 1: percent raise in a couple of weeks. Here there was 178 00:10:39,520 --> 00:10:42,040 Speaker 1: a possibility if we got a number that looked like 179 00:10:42,160 --> 00:10:46,120 Speaker 1: inflation demand destruction was was bringing down inflation, that maybe 180 00:10:46,120 --> 00:10:48,160 Speaker 1: it would be a little bit less than that. But 181 00:10:48,280 --> 00:10:50,760 Speaker 1: now the market is pricing in well could actually even 182 00:10:50,840 --> 00:10:53,800 Speaker 1: be worse. And again that the FED was wrong on 183 00:10:53,840 --> 00:10:55,800 Speaker 1: the way down. They were wrong on the way up. 184 00:10:56,040 --> 00:10:58,560 Speaker 1: And if you go back to March of twenty twenty, 185 00:10:59,080 --> 00:11:02,480 Speaker 1: the FED, the government, they all said we had to 186 00:11:02,520 --> 00:11:05,760 Speaker 1: do these emergency measures so they could save the economy. 187 00:11:05,960 --> 00:11:09,960 Speaker 1: And what did they do. They destroyed the economy. So 188 00:11:10,000 --> 00:11:12,439 Speaker 1: we need to take this power away from them because 189 00:11:12,480 --> 00:11:18,040 Speaker 1: we're the ones paying the price quite literally for this, Carol, 190 00:11:17,880 --> 00:11:19,920 Speaker 1: could I could spend an hour with you unpacking the 191 00:11:20,000 --> 00:11:22,880 Speaker 1: Chinese markets and things like that. But let's talk about 192 00:11:22,920 --> 00:11:26,880 Speaker 1: this really briefly. The debt, the national debt, because when 193 00:11:26,920 --> 00:11:30,440 Speaker 1: I see things like the FED predicting massive raid hikes 194 00:11:30,440 --> 00:11:32,559 Speaker 1: which they're going to use to try to prevent mass 195 00:11:32,559 --> 00:11:36,400 Speaker 1: inflate or a hyperinflation, I say to myself, Okay, well, 196 00:11:37,120 --> 00:11:39,960 Speaker 1: interest rates are a funny beast, especially when you have 197 00:11:40,080 --> 00:11:44,559 Speaker 1: a thirty one trillion dollar national debt. Can you merge 198 00:11:44,600 --> 00:11:48,040 Speaker 1: those two worlds? Raising interest rates and a thirty one 199 00:11:48,120 --> 00:11:52,839 Speaker 1: trillion dollar national debt? That sounds like a freight train. Yeah. 200 00:11:52,880 --> 00:11:55,280 Speaker 1: So the FED has already come out and said that 201 00:11:55,360 --> 00:12:00,280 Speaker 1: the current path of government spending is unsustainable. Shot looking 202 00:12:00,360 --> 00:12:03,520 Speaker 1: to all of you that are listening, I know. The 203 00:12:03,640 --> 00:12:09,440 Speaker 1: challenge is as the Fed keeps raising their target interest rates, 204 00:12:09,520 --> 00:12:12,800 Speaker 1: it flows through the rest of the cost of financing, 205 00:12:13,000 --> 00:12:14,840 Speaker 1: not on a one to one basis. It's not like 206 00:12:14,880 --> 00:12:17,160 Speaker 1: it's a one percent increase and that means then the 207 00:12:17,200 --> 00:12:19,560 Speaker 1: government has to pay one percent more in treasury, but 208 00:12:19,720 --> 00:12:22,719 Speaker 1: it keeps putting upward pressure on it. And as the 209 00:12:22,760 --> 00:12:26,400 Speaker 1: government needs to pay more for the debt that they have, 210 00:12:26,600 --> 00:12:29,880 Speaker 1: the thirty one trillion dollars of debt that has varying maturities. 211 00:12:30,040 --> 00:12:31,600 Speaker 1: The last time I looked at it, I think it 212 00:12:31,679 --> 00:12:35,040 Speaker 1: was like somewhere between five and six years, every one 213 00:12:35,160 --> 00:12:40,040 Speaker 1: percentage point increase in the cost of their debt is 214 00:12:40,080 --> 00:12:43,760 Speaker 1: another three hundred billion dollars that we need to spend 215 00:12:44,080 --> 00:12:47,840 Speaker 1: an interest to service that debt. So that is money 216 00:12:47,840 --> 00:12:50,440 Speaker 1: that is going to come out of other spending. And 217 00:12:50,520 --> 00:12:52,679 Speaker 1: you know what that means that either they're going to 218 00:12:52,720 --> 00:12:55,079 Speaker 1: have to raise taxes or doing all of those things. 219 00:12:55,679 --> 00:12:58,920 Speaker 1: Just to put this all in perspective, if we went 220 00:12:59,080 --> 00:13:04,040 Speaker 1: back to twenty nineteen spending, so right before the pandemic, 221 00:13:04,320 --> 00:13:07,080 Speaker 1: with the amount of receipts that they expect to collect 222 00:13:07,080 --> 00:13:09,440 Speaker 1: for this year, we would actually be at a break 223 00:13:09,520 --> 00:13:12,600 Speaker 1: even point if we went back to twenty eighteen, if 224 00:13:12,640 --> 00:13:15,320 Speaker 1: they just dialed it back just to twenty eighteen, not 225 00:13:15,440 --> 00:13:17,880 Speaker 1: that long ago. That's spending. With the amount of receipts 226 00:13:17,880 --> 00:13:21,160 Speaker 1: that they're expecting to collect via taxes, we would have 227 00:13:21,200 --> 00:13:24,720 Speaker 1: a three hundred billion dollars surplus. And what are these 228 00:13:24,760 --> 00:13:28,880 Speaker 1: idiots doing. They're spending more and more money they expect 229 00:13:28,960 --> 00:13:31,120 Speaker 1: for this fiscal year, which ends at the end of 230 00:13:31,160 --> 00:13:35,320 Speaker 1: the month at one point for trillion dollar deficits. And 231 00:13:35,800 --> 00:13:37,560 Speaker 1: you know, we've seen all of the spending that they've 232 00:13:37,559 --> 00:13:39,560 Speaker 1: put in place, and that's not even included in that. 233 00:13:39,600 --> 00:13:43,079 Speaker 1: So that's just going to continue to increase. And as 234 00:13:43,080 --> 00:13:45,840 Speaker 1: I said again, it's just it destroys our purchasing power, 235 00:13:45,920 --> 00:13:49,000 Speaker 1: It destroys everything that we're working for, and it threatens 236 00:13:49,000 --> 00:13:54,800 Speaker 1: the economic security of our country. Rough, bright and sunny today. 237 00:13:54,800 --> 00:13:59,160 Speaker 1: Thanks by hard assets, Jesse, buy your medals, by goal, 238 00:13:59,320 --> 00:14:02,600 Speaker 1: by land and buy water. Right, Seriously, this is the 239 00:14:02,720 --> 00:14:05,360 Speaker 1: long term strategy here. We have to get people to help. Right, 240 00:14:05,400 --> 00:14:08,079 Speaker 1: what do you do long term? You want to own 241 00:14:08,559 --> 00:14:13,280 Speaker 1: hard assets? You heard it here, carow off everybody fall 242 00:14:13,360 --> 00:14:16,760 Speaker 1: over advice. Thank you all. That may have made you uncomfortable. 243 00:14:16,800 --> 00:14:19,800 Speaker 1: Probably did we gotta know, right, but I'm right. Now, 244 00:14:21,000 --> 00:14:24,760 Speaker 1: Let's dig into this a little bit more. Food prices, 245 00:14:24,960 --> 00:14:28,200 Speaker 1: supply chains. Remember about a month or two ago, supply chains, 246 00:14:28,200 --> 00:14:30,080 Speaker 1: we're all the rage, it's all anyone could talk about 247 00:14:30,120 --> 00:14:32,960 Speaker 1: it now. It's it's like that that problem went away, 248 00:14:33,600 --> 00:14:36,600 Speaker 1: or did it go away. We're gonna talk about that 249 00:14:36,680 --> 00:14:38,720 Speaker 1: with Ross Kennedy, and we're gonna talk about it next. 250 00:14:38,720 --> 00:14:41,160 Speaker 1: Before we talk about that, let's talk about that time 251 00:14:41,160 --> 00:14:44,120 Speaker 1: share you one out of and they're not letting you out. 252 00:14:45,120 --> 00:14:48,000 Speaker 1: I know how it works. I've heard all the stories. 253 00:14:48,880 --> 00:14:53,080 Speaker 1: Go to a timeshare seminar, you make the buye, maybe 254 00:14:53,080 --> 00:14:55,880 Speaker 1: you spend a bunch of time there with yourself, friends, family, 255 00:14:55,960 --> 00:14:59,120 Speaker 1: enjoying yourself. But eventually you stopped going. Or maybe you'd 256 00:14:59,120 --> 00:15:01,640 Speaker 1: never really win at all. Don't tell anybody that. And 257 00:15:01,760 --> 00:15:04,760 Speaker 1: now you want out, and the timeshare company says, no, no, no, no, no, 258 00:15:04,760 --> 00:15:08,520 Speaker 1: no no. You forgot to read the fine print. You're 259 00:15:08,560 --> 00:15:12,040 Speaker 1: in this forever. Every year you will pay your annual fees, 260 00:15:12,080 --> 00:15:14,680 Speaker 1: and we'll keep increasing those annual fees. You'll pay your 261 00:15:14,680 --> 00:15:19,920 Speaker 1: special assessments. There's no getting out. Yes, there is. Lone 262 00:15:19,960 --> 00:15:23,280 Speaker 1: Star Transfer will get you out. They guarantee it. They 263 00:15:23,320 --> 00:15:27,280 Speaker 1: guarantee it in writing. They even give you a date. Hey, 264 00:15:27,560 --> 00:15:29,760 Speaker 1: we will get you out, and we will get you 265 00:15:29,840 --> 00:15:33,400 Speaker 1: out by this time. That's amazing. That's confidence. That's the 266 00:15:33,440 --> 00:15:37,560 Speaker 1: confidence of helping over sixteen thousand people will get out permanently. 267 00:15:38,240 --> 00:15:41,560 Speaker 1: Your one phone call away from getting out eight four 268 00:15:41,680 --> 00:15:45,800 Speaker 1: four three one zero two six four six eight four 269 00:15:45,960 --> 00:15:50,880 Speaker 1: four three one zero two six four six or go 270 00:15:50,920 --> 00:15:59,480 Speaker 1: to loan star transfer dot com. We'll be back. Each morning, 271 00:15:59,600 --> 00:16:02,640 Speaker 1: the print of the United States receives a highly classified 272 00:16:02,640 --> 00:16:05,680 Speaker 1: briefing on the most important issues facing the country. It's 273 00:16:05,680 --> 00:16:09,200 Speaker 1: called the President's Daily Brief, or PDB. It's delivered by 274 00:16:09,200 --> 00:16:12,400 Speaker 1: America's spies and analysts. Well, now you can hear your 275 00:16:12,520 --> 00:16:15,720 Speaker 1: very own PDB in the form of a podcast hosted 276 00:16:15,720 --> 00:16:19,360 Speaker 1: by me Brian Dean Wright, a former CIA operations officer. 277 00:16:19,720 --> 00:16:22,440 Speaker 1: Each morning at six am Eastern, I'll bring you fifteen 278 00:16:22,480 --> 00:16:25,280 Speaker 1: to twenty minutes of the most important issues facing the country, 279 00:16:25,480 --> 00:16:28,760 Speaker 1: giving you the critical intelligence and analysis you need to 280 00:16:28,880 --> 00:16:41,800 Speaker 1: start your morning. Remember those long lines, you guys would 281 00:16:41,800 --> 00:16:46,080 Speaker 1: all film of cars, decent looking car not jelopis nice 282 00:16:46,160 --> 00:16:49,280 Speaker 1: cars just waiting for a box of food to be 283 00:16:49,320 --> 00:16:53,120 Speaker 1: put in the trunk in the United States of America, 284 00:16:53,680 --> 00:16:56,760 Speaker 1: waiting for over an hour to get food in a trunk. 285 00:16:57,360 --> 00:17:03,160 Speaker 1: Two weeks later, Yeah, is a line of desperation drivers 286 00:17:03,160 --> 00:17:07,040 Speaker 1: parked along a busy Dallas rode They're waiting for food. 287 00:17:07,600 --> 00:17:10,520 Speaker 1: This looks like what we saw a couple of years ago. Unfortunately, 288 00:17:10,560 --> 00:17:14,760 Speaker 1: it's worse than a couple of years ago. Don't you 289 00:17:14,840 --> 00:17:17,159 Speaker 1: loving an old jerk? Joe Biden still is. Did you 290 00:17:17,200 --> 00:17:19,679 Speaker 1: catch that part at the beginning? He just can't help himself. 291 00:17:19,960 --> 00:17:22,960 Speaker 1: Those lines, you guys all filmed as if they were 292 00:17:23,000 --> 00:17:26,080 Speaker 1: just obligated to censor those things to protect old Joe. 293 00:17:26,320 --> 00:17:28,919 Speaker 1: Joining me now, Ross Kennedy, he is the founder of 294 00:17:28,920 --> 00:17:33,560 Speaker 1: Fortis Analysis. Ross, Okay, that was a big food number today, 295 00:17:33,640 --> 00:17:37,600 Speaker 1: eleven point four percent increase in the food index. Well, 296 00:17:37,600 --> 00:17:39,280 Speaker 1: I don't know what the food index is, but that 297 00:17:39,359 --> 00:17:44,960 Speaker 1: sounds bad, Ross. Ye. Yes, So it's it's a baseline 298 00:17:44,960 --> 00:17:50,080 Speaker 1: measure of what certain staple ingredients and items cost within 299 00:17:50,119 --> 00:17:53,760 Speaker 1: the United States. So you would have not only account for, 300 00:17:54,560 --> 00:17:57,160 Speaker 1: you know, things like cereal, but you'd also haven't think 301 00:17:57,200 --> 00:18:01,680 Speaker 1: so that would be you know, milk, dairy egged components 302 00:18:01,720 --> 00:18:04,760 Speaker 1: like that. And unfortunately, when you're talking about you know, 303 00:18:04,880 --> 00:18:10,600 Speaker 1: demand and supply disruptions driving really really quick price increases, 304 00:18:10,920 --> 00:18:14,520 Speaker 1: it shows up there first. And the scary thing is 305 00:18:14,520 --> 00:18:16,480 Speaker 1: is that it's a it's a tailing indicator or a 306 00:18:16,520 --> 00:18:19,439 Speaker 1: lagging indicator. If we're hearing that it was reported to 307 00:18:19,480 --> 00:18:23,200 Speaker 1: be x amount in the previous month, whatever was potentially 308 00:18:23,240 --> 00:18:28,479 Speaker 1: driving those prices higher could still be ongoing or even worsening. Okay, 309 00:18:28,520 --> 00:18:30,359 Speaker 1: I guess that's where That's what I want to ask 310 00:18:30,359 --> 00:18:33,119 Speaker 1: you about today is where are we going? We know 311 00:18:33,160 --> 00:18:35,960 Speaker 1: where we are? It sucks everyone who's bought groceries knows 312 00:18:36,000 --> 00:18:39,560 Speaker 1: where we are. Where are we going? I have argued 313 00:18:39,600 --> 00:18:41,560 Speaker 1: just from the things I see, the things x where 314 00:18:41,600 --> 00:18:43,720 Speaker 1: it's like you tell me, I feel like we are 315 00:18:43,760 --> 00:18:47,080 Speaker 1: in the very beginning of a very deep, potentially long 316 00:18:47,200 --> 00:18:51,080 Speaker 1: lasting economic downturn. But hopefully I'm wrong. Gosh, I want 317 00:18:51,080 --> 00:18:53,680 Speaker 1: to be wrong bad? Where are we? Where are we going? Ross? 318 00:18:54,480 --> 00:18:56,360 Speaker 1: How scared do you want to be? A jesse Um? 319 00:18:57,320 --> 00:19:02,040 Speaker 1: There's having to me, there's whole range of outcomes here. 320 00:19:02,080 --> 00:19:09,160 Speaker 1: The go from fairly frightening to nearly apocalyptic. The one 321 00:19:09,200 --> 00:19:11,159 Speaker 1: benefit I will say to frame all of this is 322 00:19:11,200 --> 00:19:13,560 Speaker 1: that in the US we still have, on a per 323 00:19:13,600 --> 00:19:16,720 Speaker 1: acre basis, on a per calories per capita basis, we 324 00:19:16,800 --> 00:19:20,359 Speaker 1: are still the most wildly productive food system in the world. 325 00:19:20,440 --> 00:19:23,280 Speaker 1: So it's going to get worse in other places long 326 00:19:23,280 --> 00:19:25,960 Speaker 1: before it gets that bad here. But we do still 327 00:19:25,960 --> 00:19:30,280 Speaker 1: face some extremely significant challenges, not necessarily starvation, but certainly 328 00:19:30,320 --> 00:19:34,520 Speaker 1: food budgets, completely crippling the economy because people have to 329 00:19:34,560 --> 00:19:38,960 Speaker 1: eat before they can spend money on new furniture, new electronics, clothing, 330 00:19:39,640 --> 00:19:42,640 Speaker 1: whatever it may be. On the lower end here, we're 331 00:19:42,720 --> 00:19:45,960 Speaker 1: looking at six to twelve month disruption that's driven by 332 00:19:46,920 --> 00:19:51,040 Speaker 1: a range of factors, higher energy costs increasing not only 333 00:19:51,080 --> 00:19:55,280 Speaker 1: food production but also food transportation. We're looking at some 334 00:19:55,720 --> 00:19:58,760 Speaker 1: reduced yields, particularly on corn and wheat here in the 335 00:19:58,840 --> 00:20:00,720 Speaker 1: US for twenty twenty two, with a lot of the 336 00:20:00,800 --> 00:20:03,920 Speaker 1: drought issues that we've had. Rice is also down. Swathings 337 00:20:03,920 --> 00:20:07,159 Speaker 1: look pretty good for now, but despite the best efforts 338 00:20:07,160 --> 00:20:08,919 Speaker 1: of the world Economic form, we can only eat so 339 00:20:09,000 --> 00:20:11,920 Speaker 1: much soy or export so much soy in our diet. 340 00:20:12,640 --> 00:20:16,160 Speaker 1: So on the really bad end, the US is dependent 341 00:20:16,200 --> 00:20:18,840 Speaker 1: on about sixty percent of the amino acids that go 342 00:20:18,880 --> 00:20:22,200 Speaker 1: into animal food production. About ninety percent of the vitamins 343 00:20:22,280 --> 00:20:28,359 Speaker 1: that go into both animal and human ingredients come from China, 344 00:20:28,440 --> 00:20:32,000 Speaker 1: and so a significant disruption in the manufacturing base in 345 00:20:32,080 --> 00:20:36,160 Speaker 1: China or the ability to export those significantly cripples US 346 00:20:36,200 --> 00:20:39,679 Speaker 1: food production. If we have zero vitamins available to us 347 00:20:39,680 --> 00:20:42,520 Speaker 1: in the US, we can't supplement out of Europe. Only 348 00:20:42,520 --> 00:20:45,320 Speaker 1: a couple are made in Europe. Those factories are dependent 349 00:20:45,320 --> 00:20:49,119 Speaker 1: on Russian natural gas, probably to no one's surprise. But 350 00:20:49,160 --> 00:20:51,000 Speaker 1: if we can't give vitamins to our animals, and if 351 00:20:51,000 --> 00:20:53,480 Speaker 1: we can't add it into human food production, we're talking 352 00:20:53,520 --> 00:20:55,919 Speaker 1: an eight to ten percent or excuse me, eight to 353 00:20:55,960 --> 00:21:00,000 Speaker 1: ten x increase in the price of food within six months, 354 00:21:00,440 --> 00:21:04,200 Speaker 1: because it would it would decimate the animal population that 355 00:21:04,480 --> 00:21:09,600 Speaker 1: we manage for human food consumption and eight to ten 356 00:21:09,960 --> 00:21:16,639 Speaker 1: times increase in food. Yes, okay, that's before I before 357 00:21:16,640 --> 00:21:20,360 Speaker 1: I pass out from fear. Here, let's unpack why what's 358 00:21:20,400 --> 00:21:25,159 Speaker 1: wrong with China and they're manufacturing well, Chinese manufacturing is 359 00:21:25,840 --> 00:21:29,240 Speaker 1: undergoing a few things as well. China is some really 360 00:21:29,280 --> 00:21:33,320 Speaker 1: significant displacement of natural gas. For example, natural gas as 361 00:21:33,359 --> 00:21:36,240 Speaker 1: a critical key input or a lot of these manufacturing 362 00:21:36,280 --> 00:21:39,880 Speaker 1: processes for synthetic vitamins or for amino acids. Their corn 363 00:21:39,920 --> 00:21:43,359 Speaker 1: production is down significantly. Despite whatever their media reports are 364 00:21:43,400 --> 00:21:46,480 Speaker 1: lying about. They're struggling with corn production, and that's a 365 00:21:46,560 --> 00:21:50,399 Speaker 1: major raw material for amino acid production and a couple 366 00:21:50,440 --> 00:21:55,480 Speaker 1: potentially vitamins as well. So you've got significant raw you know, 367 00:21:55,600 --> 00:21:58,240 Speaker 1: raw input issues there as well. You also have the 368 00:21:58,640 --> 00:22:01,439 Speaker 1: October Party Congress coming up, and as we've seen with 369 00:22:01,520 --> 00:22:05,720 Speaker 1: Shanghai with the lockdowns there, the factionalization of the CCP, 370 00:22:05,920 --> 00:22:08,719 Speaker 1: the fighting over a hijinping is going to be emperor 371 00:22:08,720 --> 00:22:11,600 Speaker 1: for a life. That is going to have a significant 372 00:22:11,920 --> 00:22:14,600 Speaker 1: potential impact, if you will, on the ability of China 373 00:22:14,600 --> 00:22:19,240 Speaker 1: to export these ingredients to the US and too elsewhere. Okay, 374 00:22:20,720 --> 00:22:22,399 Speaker 1: let's let's rewind just a little bit when we were 375 00:22:22,440 --> 00:22:25,480 Speaker 1: talking about potentially on the low end six months to 376 00:22:25,600 --> 00:22:29,040 Speaker 1: a year. I understand there are external factors going on 377 00:22:29,160 --> 00:22:32,320 Speaker 1: right now, drought and Russia, Ukraine and all these other 378 00:22:32,320 --> 00:22:35,240 Speaker 1: things that nobody can control. Part of the reason I've 379 00:22:35,280 --> 00:22:37,119 Speaker 1: been warning people that I think this is going to 380 00:22:37,160 --> 00:22:39,280 Speaker 1: be very deep in the last a very long time 381 00:22:39,840 --> 00:22:43,040 Speaker 1: is because Joe Biden's not going anywhere for a few years. 382 00:22:43,040 --> 00:22:46,080 Speaker 1: Not to make it completely political, but they're waging and 383 00:22:46,160 --> 00:22:48,320 Speaker 1: all out war on the energy sector right now, and 384 00:22:48,440 --> 00:22:51,440 Speaker 1: open war. They're bragging about it. If you're waging in 385 00:22:51,560 --> 00:22:53,840 Speaker 1: war on one of the critical pillars that holds up 386 00:22:53,880 --> 00:22:58,200 Speaker 1: into economy, how could it be anything but a disaster. Yeah, 387 00:22:58,240 --> 00:23:00,760 Speaker 1: I mean, that's that's absolutely correct. If we look, for example, 388 00:23:00,800 --> 00:23:04,119 Speaker 1: at the fact that we are very we're built around 389 00:23:04,160 --> 00:23:05,600 Speaker 1: corn as a mono crop. We have a lot of 390 00:23:05,600 --> 00:23:08,280 Speaker 1: soybeans as well, but let's say corn is probably the 391 00:23:08,400 --> 00:23:11,960 Speaker 1: number one most critical raw material for the overall food 392 00:23:11,960 --> 00:23:15,000 Speaker 1: production in the US. From a biological side, we need 393 00:23:15,119 --> 00:23:19,120 Speaker 1: huge amounts of nitrogen or natural gas to produce nitrogen ingredients. 394 00:23:19,160 --> 00:23:22,360 Speaker 1: That is one of the probably key input for corn 395 00:23:22,400 --> 00:23:25,920 Speaker 1: production is the end part of NPK. You need natural 396 00:23:25,920 --> 00:23:27,720 Speaker 1: gas to make an awful lot of that, particularly for 397 00:23:27,720 --> 00:23:31,119 Speaker 1: our domestic industry. Without that, we can't produce as much corn. 398 00:23:31,359 --> 00:23:33,480 Speaker 1: We shift more to soy but a lot of things 399 00:23:33,480 --> 00:23:36,240 Speaker 1: that rely on corn as the base ingredient. And it's 400 00:23:36,240 --> 00:23:40,359 Speaker 1: not just hyproctose corn throw it's textures, texture, what they 401 00:23:40,359 --> 00:23:44,760 Speaker 1: called texturizers. It's various starches and sweeteners, things like zamping, 402 00:23:44,840 --> 00:23:47,600 Speaker 1: dumb things that enable us to produce food at an 403 00:23:47,640 --> 00:23:50,320 Speaker 1: industrial scale, whether it's healthy or not, but it's still 404 00:23:50,359 --> 00:23:53,960 Speaker 1: calories that would be dramatically disrupted. So you're talking about 405 00:23:54,000 --> 00:23:57,000 Speaker 1: natural gas production and transmission being crippled. It's got a 406 00:23:57,040 --> 00:23:59,879 Speaker 1: fertilizer impact. You also need a huge amount of natural 407 00:24:00,000 --> 00:24:02,280 Speaker 1: as in order to run these wet corn mills, to 408 00:24:02,400 --> 00:24:05,800 Speaker 1: run soybean mills, to run these plants, because it's it's 409 00:24:05,920 --> 00:24:10,040 Speaker 1: the most easily convertible fuel source or energy source into heat, 410 00:24:10,320 --> 00:24:12,119 Speaker 1: which you need to do, you know, to manufacture these 411 00:24:12,240 --> 00:24:15,960 Speaker 1: ingredients and you run these mills. So as both a 412 00:24:16,080 --> 00:24:18,800 Speaker 1: raw material as both a an energy component in the 413 00:24:18,840 --> 00:24:21,600 Speaker 1: system itself. When you talk about as well, about the 414 00:24:21,640 --> 00:24:26,080 Speaker 1: impact of very expensive diesel fuel, which we've obviously seen 415 00:24:26,080 --> 00:24:28,119 Speaker 1: throughout the year since you know, we broke about five 416 00:24:28,160 --> 00:24:31,399 Speaker 1: dollars and have stayed there. Nationally, tractors run on fuel, 417 00:24:31,560 --> 00:24:34,560 Speaker 1: Trucks run on diesel fuel. So our inability to produce 418 00:24:35,000 --> 00:24:37,280 Speaker 1: enough diesel fuel and get it into the right hands 419 00:24:37,280 --> 00:24:40,199 Speaker 1: of the Midwest to reduce costs, the inability to produce 420 00:24:40,720 --> 00:24:44,280 Speaker 1: lp at enough scale, which you know, grain dryers and 421 00:24:44,320 --> 00:24:46,600 Speaker 1: things like that in the Midwest run on You're talking 422 00:24:46,640 --> 00:24:49,000 Speaker 1: about energy is a critical component of all of these things, 423 00:24:49,000 --> 00:24:51,560 Speaker 1: as well as being a raw input. When that price 424 00:24:51,600 --> 00:24:53,359 Speaker 1: goes up on that, it doesn't just go up in 425 00:24:53,400 --> 00:24:55,919 Speaker 1: one thing, It goes up across the entire ecosystem of 426 00:24:55,960 --> 00:25:01,240 Speaker 1: production for the food and fuels that we rely on. Ross. 427 00:25:01,520 --> 00:25:04,960 Speaker 1: That was scary but very informative. Thanks for making us smarter, 428 00:25:05,040 --> 00:25:10,840 Speaker 1: my man, come back soon, please, thank you, Jesse. I 429 00:25:10,920 --> 00:25:12,960 Speaker 1: know that a lot of the stuff gets dart, but 430 00:25:13,640 --> 00:25:15,959 Speaker 1: don't you want to know? I mean that doesn't mean 431 00:25:15,960 --> 00:25:17,920 Speaker 1: we have to lay down and cry and suck our thumb, 432 00:25:17,920 --> 00:25:19,159 Speaker 1: but don't you want to know? I want to know? 433 00:25:19,560 --> 00:25:22,320 Speaker 1: And I want experts like to that to unpack for me. 434 00:25:22,560 --> 00:25:26,199 Speaker 1: Why where's it coming from? Where might this go? You 435 00:25:26,280 --> 00:25:29,560 Speaker 1: heard it? Just be telling you this. Just make preparations, 436 00:25:29,560 --> 00:25:34,040 Speaker 1: all right, Make some preparations. One thing I do know 437 00:25:34,400 --> 00:25:37,800 Speaker 1: is as dark as it's going to get, I hate 438 00:25:37,840 --> 00:25:39,920 Speaker 1: saying that, as dark as I think it's going to get. 439 00:25:40,200 --> 00:25:41,919 Speaker 1: I do know this. We are going to need to 440 00:25:41,920 --> 00:25:47,240 Speaker 1: be strong. I know that. I know. If testosterone levels 441 00:25:47,280 --> 00:25:50,359 Speaker 1: are half of what they were fifty years ago and 442 00:25:50,400 --> 00:25:54,000 Speaker 1: then you hit a great depression, that's not good because 443 00:25:54,000 --> 00:25:56,680 Speaker 1: the first great depression wasn't good. When great when testosterone 444 00:25:56,760 --> 00:26:03,320 Speaker 1: levels were high. Guys, all natural herbal supplements from chalk 445 00:26:04,080 --> 00:26:09,800 Speaker 1: A twenty percent increase in your testosterone in ninety days. 446 00:26:10,320 --> 00:26:13,399 Speaker 1: Twenty percent in the ninety days, not sticking needles in 447 00:26:13,440 --> 00:26:18,960 Speaker 1: your arm, not big farmycrap natural herbal supplements. I got 448 00:26:19,000 --> 00:26:21,800 Speaker 1: sixty year old, sixty one year old emailing me telling 449 00:26:21,800 --> 00:26:24,199 Speaker 1: me they're losing belly fat. When's the last time you 450 00:26:24,280 --> 00:26:27,320 Speaker 1: lost belly fat? I got women emailing me, Jesse, body 451 00:26:27,400 --> 00:26:29,280 Speaker 1: legs look better. Thank you so much because they have 452 00:26:29,320 --> 00:26:34,679 Speaker 1: a female vitality stack as well. Go choq dot com. 453 00:26:34,800 --> 00:26:37,400 Speaker 1: It's not just those two things either. They have endless 454 00:26:37,720 --> 00:26:43,200 Speaker 1: natural herbal supplements US manufacturing there. Go make sure you're healthy. 455 00:26:43,320 --> 00:26:48,919 Speaker 1: Avoid the doctor. C hoq dot com promo code Jesse. 456 00:26:49,520 --> 00:26:53,680 Speaker 1: Cchoq dot com promo code, Jesse, get your thirty percent 457 00:26:53,720 --> 00:27:07,399 Speaker 1: off the whole store. We'll be bad. Expert, What do 458 00:27:07,440 --> 00:27:10,720 Speaker 1: you do? What's your instinct? When I say that word expert? 459 00:27:11,080 --> 00:27:13,919 Speaker 1: Trust the experts. The experts are on it. I know 460 00:27:13,960 --> 00:27:17,560 Speaker 1: what you do the same thing I do. Now you go, No, sure, sure? 461 00:27:19,280 --> 00:27:22,359 Speaker 1: Why though? Why do you do that? Why do I 462 00:27:22,440 --> 00:27:26,040 Speaker 1: do that? Well? We've been treated, especially over the past 463 00:27:26,080 --> 00:27:29,800 Speaker 1: couple of years, to expert after expert after expert after 464 00:27:29,880 --> 00:27:34,720 Speaker 1: expert in whatever field, finances, medical, doesn't matter. Being wrong 465 00:27:34,800 --> 00:27:39,240 Speaker 1: about everything, I mean dead wrong. But the answer was 466 00:27:39,280 --> 00:27:41,600 Speaker 1: read and they picked black every time that they were 467 00:27:41,680 --> 00:27:47,040 Speaker 1: all wrong about everything. Why how's that happen? All these 468 00:27:47,080 --> 00:27:49,800 Speaker 1: people have these huge degrees and all these said, how 469 00:27:49,840 --> 00:27:53,200 Speaker 1: does it happen? Well, here's something you have to understand. 470 00:27:53,200 --> 00:27:55,520 Speaker 1: This is going to lead us into this Brian Stelter story. 471 00:27:56,359 --> 00:27:59,000 Speaker 1: In a late stage republic, which we are. And I 472 00:27:59,040 --> 00:28:00,879 Speaker 1: don't take pleasure and say in that that sucks, but 473 00:28:00,960 --> 00:28:02,960 Speaker 1: we are a late stage republic where you're in the 474 00:28:03,000 --> 00:28:07,680 Speaker 1: decay phase. All right. In a late stage republic, you 475 00:28:07,800 --> 00:28:13,119 Speaker 1: actually don't get access to experts anymore the way you 476 00:28:13,280 --> 00:28:17,360 Speaker 1: used to. You don't. Your society simply doesn't produce them. 477 00:28:17,400 --> 00:28:21,760 Speaker 1: The experts aren't there growing societies, societies that are thriving 478 00:28:21,760 --> 00:28:25,880 Speaker 1: and prospering. They produce experts all the time. Why because 479 00:28:25,920 --> 00:28:29,600 Speaker 1: the cultural institutions that build that society, that hold up 480 00:28:29,600 --> 00:28:34,320 Speaker 1: that society, they're all interested in performance and advancing. And 481 00:28:34,320 --> 00:28:36,239 Speaker 1: we got to get ahead, and I gotta get smarter. Hey, 482 00:28:36,440 --> 00:28:38,640 Speaker 1: I'm a doctor. I need a new piece of technology here. 483 00:28:38,680 --> 00:28:40,360 Speaker 1: We got to figure out this kind of medicine. I'm 484 00:28:40,400 --> 00:28:43,840 Speaker 1: a scientist here, I'm in construction. I mean, they're all 485 00:28:43,880 --> 00:28:46,239 Speaker 1: trying to get ahead. That that's the goal. You have 486 00:28:46,280 --> 00:28:48,239 Speaker 1: to be smarter, better than the other guys. So you 487 00:28:48,240 --> 00:28:50,760 Speaker 1: have to put in the time and the energy, and inevitably, 488 00:28:50,760 --> 00:28:53,480 Speaker 1: in the end you will have a society where you 489 00:28:53,520 --> 00:28:57,000 Speaker 1: have access to experts in every field. In a late 490 00:28:57,040 --> 00:29:02,360 Speaker 1: stage republic, which we have. That's not the motivation. Most 491 00:29:02,400 --> 00:29:05,040 Speaker 1: of our cultural leaders, as we've talked about a thousand times, 492 00:29:05,040 --> 00:29:07,160 Speaker 1: find out hate the country. But even the ones that 493 00:29:07,240 --> 00:29:11,520 Speaker 1: don't set them aside, they don't care about it. They 494 00:29:11,520 --> 00:29:15,800 Speaker 1: don't they're not interested in advancing America. They're not interested 495 00:29:15,840 --> 00:29:19,000 Speaker 1: in that next medical advancement. They're not interested in any 496 00:29:19,000 --> 00:29:23,120 Speaker 1: of these things. The system now, because it's all one ideology, 497 00:29:23,560 --> 00:29:27,600 Speaker 1: it simply exists to serve itself. That's why we say 498 00:29:27,640 --> 00:29:29,600 Speaker 1: all the time, the system takes care of its own. 499 00:29:31,120 --> 00:29:34,719 Speaker 1: You want exhibit A. Brian Stelter is a great example 500 00:29:34,760 --> 00:29:39,880 Speaker 1: this latest story Stelter. Stelter was a CNN host. He 501 00:29:40,000 --> 00:29:44,200 Speaker 1: hosted Reliable Sources on Sunday, The writings were terrible. Stelter's 502 00:29:44,280 --> 00:29:46,280 Speaker 1: terrible for TV. I'm not even trying to be mean. 503 00:29:46,320 --> 00:29:48,880 Speaker 1: I'm genuinely not trying to be mean. He just lacks 504 00:29:48,920 --> 00:29:51,640 Speaker 1: any kind of charisma whatsoever. It's just not interesting. It's 505 00:29:51,640 --> 00:29:54,840 Speaker 1: a boring human being without Donald Trump there to rage 506 00:29:54,840 --> 00:29:58,200 Speaker 1: against every day. Stelter just became a big white blob 507 00:29:58,280 --> 00:30:00,840 Speaker 1: on television. So he sucked, so the show didn't get 508 00:30:00,840 --> 00:30:05,080 Speaker 1: any ratings, so he got canned. But you see, we 509 00:30:05,120 --> 00:30:07,840 Speaker 1: live in a completely corrupted system where they take care 510 00:30:07,840 --> 00:30:10,320 Speaker 1: of their own. Stelter, Yes, he sucked on television, no 511 00:30:10,400 --> 00:30:14,840 Speaker 1: question about that. But he was a good boy. He 512 00:30:15,000 --> 00:30:18,040 Speaker 1: was a good servant to the system. And the system 513 00:30:18,120 --> 00:30:22,960 Speaker 1: therefore because they're not worried about expertise, they're not worried 514 00:30:22,960 --> 00:30:25,760 Speaker 1: about who's good, who's bad, who can perform, who can't perform. 515 00:30:26,000 --> 00:30:28,960 Speaker 1: They're only interested in serving each other. The system is 516 00:30:28,960 --> 00:30:32,000 Speaker 1: going to make sure Brian Stelter isn't hurting. Brian Stelter 517 00:30:32,080 --> 00:30:34,560 Speaker 1: is gonna have a soft landing. So what was the 518 00:30:34,640 --> 00:30:38,480 Speaker 1: news out from yesterday? Little news story? Brian Stelter is 519 00:30:38,560 --> 00:30:42,720 Speaker 1: going to Harvard. Just wrap your mind around this. The 520 00:30:42,920 --> 00:30:47,760 Speaker 1: guy who just flamed out at CNN horribly. I'm flamed out. 521 00:30:48,040 --> 00:30:53,160 Speaker 1: Bad performance. He's now going to go teach your son 522 00:30:53,320 --> 00:30:58,200 Speaker 1: Aiden at Harvard, at the most prestigious university in the country. 523 00:30:58,960 --> 00:31:02,720 Speaker 1: And so one day, your son Aiden, he's going a 524 00:31:02,760 --> 00:31:07,360 Speaker 1: major in journalism. He will have graduated from Harvard, and 525 00:31:07,440 --> 00:31:10,080 Speaker 1: people will look at Aiden and they'll say to themselves, 526 00:31:10,160 --> 00:31:14,520 Speaker 1: whoa man, I must be an expert. Did you see 527 00:31:14,560 --> 00:31:17,840 Speaker 1: his Harvard sweatshirt? Man, he must be an expert. But 528 00:31:17,960 --> 00:31:22,280 Speaker 1: in a decaying society like we are, it's losers and 529 00:31:22,360 --> 00:31:27,480 Speaker 1: idiots handing out the credentials that makes somebody qualified to 530 00:31:27,520 --> 00:31:32,480 Speaker 1: be called expert. You see, Aiden, he's a moron. Why 531 00:31:33,160 --> 00:31:36,840 Speaker 1: he was trained by morons. We have the name Harvard, 532 00:31:37,560 --> 00:31:41,560 Speaker 1: but we don't have any expertise anymore. That's what you're 533 00:31:41,600 --> 00:31:43,920 Speaker 1: seeing right now, and you're seeing it all over the place. 534 00:31:44,080 --> 00:31:46,440 Speaker 1: Oh there, I thought, I just unpacked that for you. 535 00:31:46,520 --> 00:31:48,280 Speaker 1: We're not done yet. We're not done yet at all. 536 00:31:48,280 --> 00:31:50,240 Speaker 1: We have Curtis howeck, he's going to join us in 537 00:31:50,280 --> 00:31:52,400 Speaker 1: a second to make fun of Brian's shelter. Before we 538 00:31:52,400 --> 00:31:54,240 Speaker 1: get to Curtis, I'm gonna get to this real quick. 539 00:31:56,560 --> 00:31:59,720 Speaker 1: The air quality right now in my area. I can't 540 00:31:59,720 --> 00:32:03,360 Speaker 1: speak for yours is disastrous. People with allergies are going 541 00:32:03,360 --> 00:32:06,120 Speaker 1: to the doctor banging up. Give me a shot, give 542 00:32:06,160 --> 00:32:09,960 Speaker 1: me something. Everyone's complaining about it, Jetsey. My eyes are 543 00:32:10,000 --> 00:32:13,560 Speaker 1: smallen and look, I'm not making fun of them. I sympathize. 544 00:32:13,680 --> 00:32:18,080 Speaker 1: I had brutal allergies for years, dear, decades, most of 545 00:32:18,120 --> 00:32:21,640 Speaker 1: my life I had them. This air isn't affecting me 546 00:32:21,720 --> 00:32:26,080 Speaker 1: down here right now? Why I have three Eden Pure 547 00:32:26,120 --> 00:32:29,520 Speaker 1: thunderstorms in my home. It's this little black box. It's 548 00:32:29,560 --> 00:32:32,040 Speaker 1: not like your normal air purifier, that big loud thing. 549 00:32:32,080 --> 00:32:34,320 Speaker 1: It's just this little black box. Goes right in the 550 00:32:34,320 --> 00:32:37,560 Speaker 1: outlet in the wall, plug it in. Come back to 551 00:32:37,640 --> 00:32:39,480 Speaker 1: the room an an hour later, and tell me what 552 00:32:39,560 --> 00:32:44,240 Speaker 1: you smell. You know what you'll smell. Smells so clean, 553 00:32:44,840 --> 00:32:48,760 Speaker 1: like nature smells after a thunderstorm. That's because it's constantly 554 00:32:48,880 --> 00:32:53,440 Speaker 1: cleaning your air. I don't even own allergy medication anymore. 555 00:32:54,320 --> 00:32:56,960 Speaker 1: They have a three pack for sale for my viewers. 556 00:32:57,880 --> 00:33:01,280 Speaker 1: You have to go to Eden Pure deal dot com. 557 00:33:01,480 --> 00:33:04,720 Speaker 1: Code Jesse gets you a three pack for two hundred 558 00:33:04,720 --> 00:33:09,840 Speaker 1: dollars off Eden Pure deals dot com code Jesse. We'll 559 00:33:09,840 --> 00:33:22,240 Speaker 1: be back, believe America needs CNN to be strong. I 560 00:33:22,320 --> 00:33:24,760 Speaker 1: believe the free world needs a CNN to be strong, 561 00:33:25,200 --> 00:33:27,560 Speaker 1: and it will continue to be because all of us 562 00:33:27,600 --> 00:33:32,920 Speaker 1: are going to help make that happen. The free world 563 00:33:34,040 --> 00:33:39,080 Speaker 1: needs a reliable source. So four reliable sources for the 564 00:33:39,160 --> 00:33:49,680 Speaker 1: last time. I'm Brian Stelter. Thanks for being with us. Sorry, 565 00:33:50,120 --> 00:33:52,600 Speaker 1: that's not nice. Joining me now my friend Curtis Health, 566 00:33:52,680 --> 00:33:56,800 Speaker 1: Managing Editor, Editor of the Media Research Center. Curtis. Obviously, 567 00:33:56,800 --> 00:33:59,600 Speaker 1: it's not surprising that Brian Stelter flamed out on TV. 568 00:33:59,760 --> 00:34:02,160 Speaker 1: He's just the boring, uninteresting person. I'm not even trying 569 00:34:02,160 --> 00:34:03,760 Speaker 1: to be me, and this is that guy's not gonna 570 00:34:03,760 --> 00:34:06,680 Speaker 1: be able to do TVs can't do it. But I 571 00:34:06,680 --> 00:34:09,080 Speaker 1: don't think people realize how predictable it was that he 572 00:34:09,160 --> 00:34:11,719 Speaker 1: was going to waltz right out of flaming out at 573 00:34:11,800 --> 00:34:15,440 Speaker 1: CNN into a nice, cushy gig in academia. This is 574 00:34:15,480 --> 00:34:18,359 Speaker 1: how it works in the system. You go from academia 575 00:34:18,400 --> 00:34:22,560 Speaker 1: to some congressman idiot's office, back to MSNBC to Harvard. 576 00:34:22,960 --> 00:34:25,000 Speaker 1: This is how it works. You simply you can't fail, 577 00:34:26,160 --> 00:34:28,120 Speaker 1: including yeah, and then you add a step into the 578 00:34:28,120 --> 00:34:31,319 Speaker 1: federal government, in and out of presidential administrations. If you're 579 00:34:31,320 --> 00:34:34,680 Speaker 1: a Democrat, there's an added stop for those folks as well. 580 00:34:34,920 --> 00:34:37,120 Speaker 1: But yes, I mean this is perfect proof that for 581 00:34:37,200 --> 00:34:39,880 Speaker 1: the elite in this country, the communists out there, money 582 00:34:39,920 --> 00:34:43,239 Speaker 1: does grow on trees that really that they support each 583 00:34:43,280 --> 00:34:46,080 Speaker 1: other no matter what you see this with Brian Stelter 584 00:34:46,200 --> 00:34:49,880 Speaker 1: being hired by the Shostein Center dealing with democracy and 585 00:34:49,880 --> 00:34:53,480 Speaker 1: he's convene panels and help enlighten the public and scholars 586 00:34:53,480 --> 00:34:58,280 Speaker 1: and students about the dangers to democracy and the forces 587 00:34:58,320 --> 00:35:03,520 Speaker 1: at work supposedly against it as in you me, patriotic 588 00:35:03,560 --> 00:35:08,880 Speaker 1: loving America, you know, America loving citizens. Fox News really 589 00:35:08,920 --> 00:35:11,799 Speaker 1: conservative media in general were not only national garity thrust 590 00:35:11,800 --> 00:35:14,359 Speaker 1: but enemies with people, you know, really alongside what Joe 591 00:35:14,360 --> 00:35:17,440 Speaker 1: Biden was talking about in his speeches. Um, you know. 592 00:35:17,480 --> 00:35:20,440 Speaker 1: And before this, Brian had been an adjunct professor NYU, 593 00:35:20,520 --> 00:35:23,240 Speaker 1: I should add, so this is not his first foray 594 00:35:23,280 --> 00:35:27,240 Speaker 1: into academia. He needs a way to help afford college 595 00:35:27,360 --> 00:35:35,120 Speaker 1: education for his children's Sonny and story Moons Shelter, I'm sorry, 596 00:35:35,320 --> 00:35:37,359 Speaker 1: did you are you making that up with that at Joe? 597 00:35:37,400 --> 00:35:39,680 Speaker 1: Please tell me he doesn't have a child named story 598 00:35:39,719 --> 00:35:42,480 Speaker 1: Moon are you Are you messing with me? No? No, 599 00:35:42,760 --> 00:35:49,280 Speaker 1: that is his son. A son is named story Moonstlter. Gosh, 600 00:35:49,280 --> 00:35:52,040 Speaker 1: these people were all lunatics. All right, what the I 601 00:35:52,120 --> 00:35:55,280 Speaker 1: made a point about the whole Harvard thing, Curtis, And 602 00:35:55,640 --> 00:35:58,800 Speaker 1: this is this is my problem as a late stage republic. 603 00:35:58,840 --> 00:36:00,520 Speaker 1: I'm not putting words in your mouth. That's what I 604 00:36:00,600 --> 00:36:03,239 Speaker 1: say we are as a late stage republic. I think 605 00:36:03,280 --> 00:36:05,719 Speaker 1: that people don't realize that we don't have access to 606 00:36:05,840 --> 00:36:08,880 Speaker 1: experts in very many fields anymore because our society doesn't 607 00:36:08,960 --> 00:36:11,400 Speaker 1: produce them. I mean, Brian Stelter is going to go 608 00:36:11,440 --> 00:36:14,000 Speaker 1: to Harvard, and some four point zero student is going 609 00:36:14,040 --> 00:36:17,040 Speaker 1: to attend Harvard and be taught by that loser about 610 00:36:17,040 --> 00:36:19,520 Speaker 1: ethics or journalism, and then he's going to leave an 611 00:36:19,520 --> 00:36:21,239 Speaker 1: act as if he's an expert when he was just 612 00:36:21,320 --> 00:36:24,240 Speaker 1: taught by the dumbest, least capable person on the planet. 613 00:36:24,280 --> 00:36:26,640 Speaker 1: And it's just never ending cycle of everything just going 614 00:36:26,680 --> 00:36:30,239 Speaker 1: to crap. Yeah, I think that's totally fair. I mean, 615 00:36:30,440 --> 00:36:33,320 Speaker 1: the Harvard Kennedy School of Government for many years was 616 00:36:33,520 --> 00:36:41,560 Speaker 1: run by a guy named David Gergen who worked for Nixon, Ford, Carter, Reagan, Clinton. 617 00:36:41,560 --> 00:36:44,600 Speaker 1: I mean he advised all those presidents in those years, 618 00:36:45,640 --> 00:36:47,719 Speaker 1: and really what would happen is he would bring in 619 00:36:47,800 --> 00:36:51,640 Speaker 1: CNN political commentators and analyst. It's just an endless cycle 620 00:36:52,320 --> 00:36:55,920 Speaker 1: of people from MSNBC. You know, you have Alice Stewart, 621 00:36:55,920 --> 00:37:00,640 Speaker 1: Carlos Carbello, Robbie Mood. I mean the psych Andrew Gillham 622 00:37:00,800 --> 00:37:02,719 Speaker 1: was one, I believe, you know, we all know how 623 00:37:02,760 --> 00:37:05,600 Speaker 1: that ended for him. So it's just a never ending 624 00:37:05,680 --> 00:37:09,400 Speaker 1: cycle of stupid as you pointed out, and there's no 625 00:37:09,440 --> 00:37:12,759 Speaker 1: real education and there's no real true experts. Their idea 626 00:37:12,800 --> 00:37:15,799 Speaker 1: of experts and expertise is the time Nickel's view of 627 00:37:15,840 --> 00:37:18,440 Speaker 1: the world, where we are going to tell you what 628 00:37:18,560 --> 00:37:21,840 Speaker 1: to think and if you question it, you're dumb, slash 629 00:37:21,880 --> 00:37:25,839 Speaker 1: a terrorist something in between, and we're going to demean you. 630 00:37:26,080 --> 00:37:28,040 Speaker 1: And by the way, we're going to attack your faith 631 00:37:28,440 --> 00:37:31,840 Speaker 1: by bringing in David French to back us up or 632 00:37:31,920 --> 00:37:34,640 Speaker 1: Michael Burson to suggest why do you guys care about 633 00:37:34,680 --> 00:37:40,480 Speaker 1: abortion so much? Well, I'm actually glad you brought this up, 634 00:37:40,520 --> 00:37:44,360 Speaker 1: because it seems like there is an ever increasing divide 635 00:37:44,960 --> 00:37:47,480 Speaker 1: between the elites. If that's what we're going to call them, 636 00:37:47,480 --> 00:37:49,880 Speaker 1: it's probably word we overuse a bit between the elites 637 00:37:49,920 --> 00:37:52,600 Speaker 1: and all of us, and one of that I view 638 00:37:52,640 --> 00:37:56,279 Speaker 1: part of that divide as being very much religious. Though 639 00:37:56,400 --> 00:38:00,480 Speaker 1: you're a Jewish man yourself, I'm a Christian man myself. 640 00:38:01,400 --> 00:38:03,960 Speaker 1: I don't know why people think there's not a battle 641 00:38:04,120 --> 00:38:06,959 Speaker 1: between religions in this country and it's not you and me, brother. 642 00:38:07,400 --> 00:38:09,880 Speaker 1: They seem to hate us with a fire of a 643 00:38:09,920 --> 00:38:12,920 Speaker 1: thousand sons, and they're getting more and more open about 644 00:38:12,920 --> 00:38:18,200 Speaker 1: their disdain Christo fascists than all that crap. Yeah, Christian 645 00:38:18,320 --> 00:38:22,640 Speaker 1: nationalism like this is really dangerous. Like my local newspaper 646 00:38:22,680 --> 00:38:25,800 Speaker 1: back in Lancaster was very upset about this church supporting 647 00:38:25,840 --> 00:38:30,719 Speaker 1: Doug Mastriano for the Guinean scubernatorial bit and that the 648 00:38:30,800 --> 00:38:33,320 Speaker 1: church had previous one of the pastors had said, wouldn't 649 00:38:33,320 --> 00:38:36,239 Speaker 1: it be great if we had judges and teachers and 650 00:38:36,840 --> 00:38:39,640 Speaker 1: other elected officials who are all Christians that we can 651 00:38:39,760 --> 00:38:44,000 Speaker 1: learn from and benefit from in society. And Lancaster Online 652 00:38:44,000 --> 00:38:45,960 Speaker 1: got really upset like, oh my gosh, how would you 653 00:38:46,040 --> 00:38:48,319 Speaker 1: dare say such a thing that a pastor would want, 654 00:38:48,680 --> 00:38:51,640 Speaker 1: you know, Christians to be elected to these positions so 655 00:38:51,680 --> 00:38:55,640 Speaker 1: that they can help grow their view of religion and 656 00:38:55,640 --> 00:38:59,040 Speaker 1: I're like, wait, what what you know? I mean, I'm 657 00:38:59,080 --> 00:39:02,040 Speaker 1: not saying that those people have to win. We're simply 658 00:39:02,080 --> 00:39:04,840 Speaker 1: saying that those people should run as open Christians and 659 00:39:04,880 --> 00:39:08,160 Speaker 1: not be afraid to speak of their faith. I mean, 660 00:39:08,239 --> 00:39:11,160 Speaker 1: we hear about that all the time. People die in 661 00:39:11,200 --> 00:39:14,840 Speaker 1: other countries for speaking out and living out their faith, 662 00:39:15,680 --> 00:39:18,399 Speaker 1: and that really is such a huge divide, whereas now 663 00:39:18,400 --> 00:39:21,240 Speaker 1: what we see in the news media is a religion 664 00:39:21,360 --> 00:39:25,760 Speaker 1: of the individual where they worship themselves, you know, Brian Stelter, 665 00:39:25,920 --> 00:39:28,120 Speaker 1: I don't know what there is to worship or look 666 00:39:28,120 --> 00:39:31,480 Speaker 1: at in the mirror, but there he is. And that's 667 00:39:31,480 --> 00:39:33,560 Speaker 1: the kind of people that they you know, they talk 668 00:39:33,600 --> 00:39:36,480 Speaker 1: about negative energy and they'd rather just sit a light 669 00:39:36,520 --> 00:39:38,880 Speaker 1: a candle in the corner and just like try and 670 00:39:39,000 --> 00:39:41,640 Speaker 1: channel positive energy or something like that. And when you 671 00:39:41,680 --> 00:39:46,680 Speaker 1: hear stuff like that, you're like, wait, fun, curtis one 672 00:39:46,680 --> 00:39:49,320 Speaker 1: of the things that I don't know how this is 673 00:39:49,360 --> 00:39:50,960 Speaker 1: going to work out. I feel like I can see 674 00:39:51,000 --> 00:39:52,520 Speaker 1: a lot of what's coming, but I don't know how 675 00:39:52,560 --> 00:39:55,440 Speaker 1: this is going to work is how blatant the lies 676 00:39:55,480 --> 00:39:57,399 Speaker 1: are now. I mean, Joe Biden coming out today seeing 677 00:39:57,400 --> 00:39:59,920 Speaker 1: the economy, so we're surgeons right after we got terrible 678 00:40:00,040 --> 00:40:03,200 Speaker 1: economic news. It's they're they're blatant, out in the open 679 00:40:03,239 --> 00:40:06,560 Speaker 1: lies for everyone to see. Washington Post running articles talking 680 00:40:06,600 --> 00:40:09,640 Speaker 1: about everybody feeling better about the economy. That's not real 681 00:40:09,760 --> 00:40:12,920 Speaker 1: at all. What I don't know is what percentage of 682 00:40:12,960 --> 00:40:15,520 Speaker 1: the population they're going to bring along with them in 683 00:40:15,560 --> 00:40:18,400 Speaker 1: that world of make believe, and what percentage they're just 684 00:40:18,440 --> 00:40:21,120 Speaker 1: flat out losing. People are turning it off, they're changing 685 00:40:21,160 --> 00:40:23,920 Speaker 1: the channel, they're going to different websites, they're just done 686 00:40:23,960 --> 00:40:27,000 Speaker 1: with that level of dishonesty. What kind of percentages are 687 00:40:27,040 --> 00:40:31,000 Speaker 1: we dealing with here? I know, I think conservatively I 688 00:40:31,040 --> 00:40:34,160 Speaker 1: would just say probably a quarter of the country, I 689 00:40:34,200 --> 00:40:37,879 Speaker 1: would say a third, but that portion between a quarter 690 00:40:37,960 --> 00:40:41,560 Speaker 1: and a third probably know what's going on, but they 691 00:40:41,560 --> 00:40:43,440 Speaker 1: just choose to go along with it anyway because they 692 00:40:43,440 --> 00:40:46,640 Speaker 1: hate the other side more. I think that's part of 693 00:40:46,640 --> 00:40:50,320 Speaker 1: the problem. You get a lot of these journalists who 694 00:40:50,400 --> 00:40:54,319 Speaker 1: I think to be honest, are performative in a lot 695 00:40:54,320 --> 00:40:58,200 Speaker 1: of ways. Some people I know, they're very nice people, 696 00:40:58,800 --> 00:41:00,640 Speaker 1: and they seem like they'd be great Everson. They don't 697 00:41:00,680 --> 00:41:03,000 Speaker 1: hate me for who I am, But you know, the 698 00:41:03,040 --> 00:41:06,280 Speaker 1: moment the lights go on, it's they're a completely different person, 699 00:41:06,440 --> 00:41:09,359 Speaker 1: and of course the viewer, the people being spoon fed 700 00:41:09,400 --> 00:41:11,680 Speaker 1: the stuff, don't really know. Now, Granny, you people like 701 00:41:11,719 --> 00:41:13,800 Speaker 1: Marga who say we need to continue wearing masks and 702 00:41:13,880 --> 00:41:17,640 Speaker 1: solidarity with the disabled community or something. Now that is 703 00:41:17,760 --> 00:41:20,960 Speaker 1: deranged kind of stuff where it's just a religion, as 704 00:41:21,040 --> 00:41:23,080 Speaker 1: I was talking about earlier. But I think that there 705 00:41:23,239 --> 00:41:25,960 Speaker 1: is a portion of the left in this country that 706 00:41:26,280 --> 00:41:30,600 Speaker 1: knows what's going on in so many areas is just insane. 707 00:41:30,640 --> 00:41:33,080 Speaker 1: So it's a matter of just getting those people to 708 00:41:33,160 --> 00:41:35,040 Speaker 1: realize that, like do you want to live with a 709 00:41:35,080 --> 00:41:37,479 Speaker 1: bunch of lunatics or do you want to be able 710 00:41:37,520 --> 00:41:40,600 Speaker 1: to live out your life? And so far those people 711 00:41:40,680 --> 00:41:43,319 Speaker 1: are willing to live with the lunatics simply because they're 712 00:41:43,360 --> 00:41:46,880 Speaker 1: on their team, and doing anything to even go along 713 00:41:46,920 --> 00:41:49,000 Speaker 1: with us means you're the enemy and you're going to 714 00:41:49,080 --> 00:41:54,279 Speaker 1: be chased down by the mob. Codis have thank you 715 00:41:54,280 --> 00:42:00,040 Speaker 1: by man. I appreciate you. Thanks, Jessie, I'm fast. I 716 00:42:00,120 --> 00:42:03,920 Speaker 1: need to buy that. How many people are going along 717 00:42:03,920 --> 00:42:07,560 Speaker 1: with it, how many people are entering that world of 718 00:42:07,600 --> 00:42:11,120 Speaker 1: nothing but lies, and how many they see it and 719 00:42:11,160 --> 00:42:13,759 Speaker 1: they're just turning it off and they're looking for something better. 720 00:42:13,840 --> 00:42:16,120 Speaker 1: I guess we're gonna find out. Either we have a 721 00:42:16,160 --> 00:42:18,239 Speaker 1: recovery and then we'll know they turned it off, or 722 00:42:18,280 --> 00:42:21,120 Speaker 1: we won't and we'll know they bought the lines. All right, 723 00:42:21,160 --> 00:42:22,680 Speaker 1: we have a light in the mood. Next, it's a 724 00:42:22,719 --> 00:42:26,319 Speaker 1: good one. Before we do that. Part of how we 725 00:42:26,400 --> 00:42:31,600 Speaker 1: fight back is fighting back with our money. This is 726 00:42:31,640 --> 00:42:35,040 Speaker 1: something we have failed at myself included on pointing fingers here. 727 00:42:35,360 --> 00:42:38,440 Speaker 1: We have failed at putting our money where our morals are. 728 00:42:38,520 --> 00:42:42,160 Speaker 1: We failed all the time. We've failed for years. They 729 00:42:42,360 --> 00:42:45,680 Speaker 1: the communists, they'll put their money where their morals are. 730 00:42:46,120 --> 00:42:48,320 Speaker 1: They're not out there shopping at Chick fil A. The 731 00:42:48,440 --> 00:42:51,279 Speaker 1: bragging that they don't. They put their money where their 732 00:42:51,280 --> 00:42:55,280 Speaker 1: morals are. We don't. In fact, we've been so weakympathetic 733 00:42:55,320 --> 00:42:58,240 Speaker 1: we brag about not doing it. I'm still gonna watch football, 734 00:42:58,960 --> 00:43:03,600 Speaker 1: love it too much. With health insurance, it's easy now. 735 00:43:04,000 --> 00:43:07,280 Speaker 1: One Share Health made it easy because they provide incredible coverage, 736 00:43:07,280 --> 00:43:11,480 Speaker 1: incredible coverage, great prices, and it's a faith based insurance 737 00:43:11,480 --> 00:43:15,720 Speaker 1: company that shares your values. What's the reason not to switch? 738 00:43:16,520 --> 00:43:19,480 Speaker 1: You know? Blue Cross just sponsored a child drag event 739 00:43:19,560 --> 00:43:24,080 Speaker 1: and boise. Go to my dot one sharehealth dot com 740 00:43:24,160 --> 00:43:29,120 Speaker 1: slash Kelly promo code Jesse Kelly my dot one, sharehealth 741 00:43:29,160 --> 00:43:31,960 Speaker 1: dot com slash Kelly promo code Jesse Kelly. Get you 742 00:43:32,000 --> 00:43:35,040 Speaker 1: seventy five bucks off your enrollment fee. We'll be back. 743 00:43:43,880 --> 00:43:46,080 Speaker 1: You remember what Carol Ross said before we get to 744 00:43:46,120 --> 00:43:48,240 Speaker 1: light in the mood in our president of the United States. 745 00:43:48,360 --> 00:43:50,520 Speaker 1: Do you remember what Carol Ross said earlier on in 746 00:43:50,600 --> 00:43:52,640 Speaker 1: the show? What does she say? We did a long 747 00:43:52,800 --> 00:43:55,799 Speaker 1: segment to open the show about the economy and inflation 748 00:43:55,880 --> 00:43:58,799 Speaker 1: and how this is just the beginning of you know 749 00:43:58,840 --> 00:44:00,920 Speaker 1: all that, But what she say gave advice at the end. 750 00:44:00,920 --> 00:44:04,440 Speaker 1: Did you hear what she said? She said, make sure 751 00:44:04,560 --> 00:44:11,759 Speaker 1: right now you are acquiring hard assets, hard assets. And 752 00:44:11,840 --> 00:44:14,480 Speaker 1: you remember what she said after that? How hard should 753 00:44:14,480 --> 00:44:20,120 Speaker 1: those assets be? Gold? Hard? You should be acquiring medals 754 00:44:20,200 --> 00:44:23,560 Speaker 1: right now, gold and silver, you should. We are in 755 00:44:23,600 --> 00:44:27,920 Speaker 1: the entry phase of something pretty bad. I'm gonna last 756 00:44:27,960 --> 00:44:30,120 Speaker 1: pretty long. I'm not talking about a month, six months 757 00:44:30,160 --> 00:44:32,359 Speaker 1: well after the election. It's gonna be pretty bad. It's 758 00:44:32,360 --> 00:44:34,719 Speaker 1: gonna be pretty bad for a while. Do you have 759 00:44:34,880 --> 00:44:38,680 Speaker 1: hard assets in your possession? Oxford Gold Group is one 760 00:44:39,080 --> 00:44:43,359 Speaker 1: phone call away. From having gold coins mailed to your 761 00:44:43,560 --> 00:44:47,319 Speaker 1: front door. Talk about hard assets in your possession, and 762 00:44:47,400 --> 00:44:49,319 Speaker 1: the beauty of it is. What if Jesse's a big 763 00:44:49,360 --> 00:44:51,000 Speaker 1: idiot and every we're about to come out of this, 764 00:44:51,080 --> 00:44:55,160 Speaker 1: Everything can be fine. You still have gold, still worth 765 00:44:55,160 --> 00:45:00,680 Speaker 1: a ton, gonna last forever, there's no downside. Call eight 766 00:45:00,760 --> 00:45:04,960 Speaker 1: three three nine nine five gold and tell Oxford Jesse 767 00:45:05,200 --> 00:45:09,000 Speaker 1: told you to call. Get hard assets in your possession. 768 00:45:09,600 --> 00:45:15,160 Speaker 1: Eight three three gold. Look, we're having some difficult times 769 00:45:15,160 --> 00:45:19,960 Speaker 1: coming in the United States of Carrera. This is the 770 00:45:20,080 --> 00:45:24,680 Speaker 1: United States. Kamara, for God's sake. This is the United States, Kamara, 771 00:45:24,800 --> 00:45:28,879 Speaker 1: for God's sake. This is the United says Kamara, for 772 00:45:29,000 --> 00:45:37,279 Speaker 1: God's sake. So embarrassing. Oh gosh, let's see them all. 773 00:45:46,920 --> 00:45:49,640 Speaker 1: Each morning, the President of the United States receives a 774 00:45:49,760 --> 00:45:53,240 Speaker 1: highly classified briefing on the most important issues facing the country. 775 00:45:53,560 --> 00:45:57,160 Speaker 1: It's called the President's Daily Brief, or PDB. It's delivered 776 00:45:57,160 --> 00:46:00,239 Speaker 1: by America's spies and analysts. Well, now you can hear 777 00:46:00,320 --> 00:46:03,360 Speaker 1: your very own PDB in the form of a podcast 778 00:46:03,440 --> 00:46:07,480 Speaker 1: hosted by me Brian Dean Wright, a former CIA operations officer. 779 00:46:07,840 --> 00:46:10,520 Speaker 1: Each morning at six am Eastern, I'll bring you fifteen 780 00:46:10,560 --> 00:46:13,240 Speaker 1: to twenty minutes of the most important issues facing the country, 781 00:46:13,560 --> 00:46:16,920 Speaker 1: giving you the critical intelligence and analysis you need to 782 00:46:16,960 --> 00:46:18,120 Speaker 1: start your morning.