Latest / The Ben Ferguson Podcast / BIDEN BUSTED BY SAUDIS LYING TO AMERICANS, plus BILL O'REILLY joins me to talk massive inflation going into the holidays!
Transcript
- 0:00Speaker 1: The consumer price index has surged higher than expected, up
- 0:05Speaker 1: to eight point two percent, and this as the Saudis
- 0:09Speaker 1: have thrown President Biden under the bus, claiming now that
- 0:14Speaker 1: the US had urged the Kingdom to postpone a decision
- 0:19Speaker 1: by OPEC and its allies, including Russia, to cut oil production.
- 0:25Speaker 1: OPEC announced the cut in October fifth, and President Biden
- 0:29Speaker 1: has said there will be quote consequences for the move.
- 0:33Speaker 1: Now they're also now accusing the President of a quid
- 0:37Speaker 1: pro quo. They are saying that they again, the Saudis
- 0:41Speaker 1: are saying the US had urged the Kingdom to postpone
- 0:44Speaker 1: a decision by OPEC and its allies until after the
- 0:48Speaker 1: mid term elections. And now the president is in a
- 0:51Speaker 1: bad spot because that on top of the consumer price
- 0:54Speaker 1: surge higher than expected. And Wall Street is responding. Now,
- 0:59Speaker 1: if you want to know why the President clearly can't
- 1:01Speaker 1: get any of this under control, it's also because it's
- 1:04Speaker 1: obvious the President doesn't actually know what's going on. He
- 1:09Speaker 1: is wandering through his day. Bill O'Reilly is going to
- 1:13Speaker 1: join me in a few moments to talk about the
- 1:15Speaker 1: state of Joe Biden as a human being. But this
- 1:19Speaker 1: is from a speech in Colorado where Joe Biden said
- 1:22Speaker 1: that his son Bo lost his life in Iraq when
- 1:26Speaker 1: actually he died in America. Listened and let mean sincerely.
- 1:30Speaker 1: I say this as a father of a man who
- 1:32Speaker 1: won the broad Star to can speak of Service Medal
- 1:35Speaker 1: and lost his life in Iraq. Imagine the courage, the daring,
- 1:40Speaker 1: and the genuine sacrifice, genuine sacrifice they all made. He's
- 1:46Speaker 1: slurring his words, and then Biden says that his son
- 1:49Speaker 1: Bo lost his life in Iraq during a speech in Colorado.
- 1:53Speaker 1: That's not what happened. He did not lose his life
- 1:56Speaker 1: in Iraq. He lost his life in America. He died
- 2:00Speaker 1: to brain cancer in two thousand and fifteen. But he
- 2:03Speaker 1: says that his son lost his life in Iraq. Now,
- 2:05Speaker 1: I genuinely feel bad for anybody that has a cognitive decline.
- 2:09Speaker 1: But the rest of the world is looking at this
- 2:11Speaker 1: and that's why they're taking advantage. Also, America's ability to
- 2:15Speaker 1: even buy a home has gotten a much much harder
- 2:20Speaker 1: to do and accomplish because of inflation. In fact, the
- 2:24Speaker 1: average thirty year fixed rate mortgage on a home loan
- 2:28Speaker 1: has more than doubled since he took office. I'm gonna
- 2:31Speaker 1: give you those details in a moment before I get
- 2:33Speaker 1: to that. If you love being outdoors, if you love tailgating,
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- 3:47Speaker 1: off and free shipping. Now back to the interest rates here,
- 3:51Speaker 1: the average thirty year fixed rate on a home loan
- 3:54Speaker 1: has more than doubled under Biden's term in office. It
- 3:58Speaker 1: has gone up from three point two percent to now
- 4:02Speaker 1: six point seven percent. This on top of the fact
- 4:07Speaker 1: that the monthly figure show inflation is accelerating, not falling.
- 4:12Speaker 1: That means there's going to be more pain for you
- 4:15Speaker 1: and I as American consumers. The price of goods purchased
- 4:19Speaker 1: by US households surged higher in September as a wide
- 4:24Speaker 1: range of goods and services have become more expensive. Prices
- 4:29Speaker 1: rose eight point two percent compared with a year earlier.
- 4:32Speaker 1: That's the latest consumer price index show, showing evidence that
- 4:36Speaker 1: the price stability sought by the Federal Reserve raising interest
- 4:40Speaker 1: rates remains an elusive and distant destination for them, meeting
- 4:46Speaker 1: more pain is coming. Compared with August, prices did not
- 4:50Speaker 1: go down. In fact, prices rows prices were up zero
- 4:54Speaker 1: point four percent. The Department of Labors Bureau of Labor
- 4:59Speaker 1: statistics stead. In their new statement, they said core CPI,
- 5:04Speaker 1: which strips out volatile full food and energy prices, rose
- 5:08Speaker 1: six point six percent compared to a year ago. That
- 5:11Speaker 1: is the highest rate of core inflation in my lifetime
- 5:16Speaker 1: since nineteen eighty one, the year I was born. It
- 5:19Speaker 1: surpassed the recent six point four percent highs that we
- 5:23Speaker 1: hid in February and the highs that we also hid
- 5:26Speaker 1: in March. For the month, core prices were up listen carefully,
- 5:31Speaker 1: zero point six percent in one month. In a thirty
- 5:36Speaker 1: day average, economists had expected the index would be up
- 5:41Speaker 1: zero point two percent on a monthly basis, at eight
- 5:44Speaker 1: point one percent compared with a year ago, with course
- 5:47Speaker 1: CPI forecasts as rising zero point four percent month to
- 5:51Speaker 1: month and six point five percent compared a year ago.
- 5:54Speaker 1: In other words, they got it all wrong. The monthly
- 5:57Speaker 1: figure show inflation is except rating. After falling to zero
- 6:02Speaker 1: in July, the headline consumer Price index has now risen
- 6:06Speaker 1: for two straight months, meaning the FETE has not gotten
- 6:09Speaker 1: it under control. In August it was rising at zero
- 6:13Speaker 1: point one two percent rate. Core prices were up zero
- 6:17Speaker 1: point three one percent in July and zero point five
- 6:20Speaker 1: six percent almost doubling the number of July in August,
- 6:25Speaker 1: and then you have to deal with food. This is
- 6:28Speaker 1: everybody's problem right now. Food prices have risen almost an
- 6:32Speaker 1: entire percentage point in September alone, matching the previous month's increase.
- 6:38Speaker 1: Compared with a year ago, food prices under the Biden
- 6:42Speaker 1: regime are up eleven point two percent. Prices of food
- 6:47Speaker 1: purchase from home consumption, known to the rest of US
- 6:52Speaker 1: as groceries, the government has now said rows zero point
- 6:57Speaker 1: seven percent for the second straight month, the meaning one
- 7:00Speaker 1: point four percent increase in the price of your groceries
- 7:04Speaker 1: in the last sixty days. These are up thirteen percent
- 7:10Speaker 1: compared to a year ago. So it's a massive tax
- 7:14Speaker 1: on your groceries, basically inflation. You are paying thirteen cents
- 7:18Speaker 1: more and every dollar that you're spending at the grocery store.
- 7:23Speaker 1: How is the world reacting to this? CNN's Christine Romans
- 7:28Speaker 1: had this to say about the numbers, and this is
- 7:30Speaker 1: again on CNN. Listen carefully, This just into CNN concerning
- 7:35Speaker 1: new data this morning. As the US looks to combat
- 7:38Speaker 1: rising inflation, consumer prices rising point four percent in September
- 7:43Speaker 1: eight point two percent year over year. Now, that's higher
- 7:46Speaker 1: than many experts had predicted. S in chief Business corresponding
- 7:49Speaker 1: Chriscine Romans joins me now to walk through these numbers, Christine,
- 7:53Speaker 1: these are figures that every American feels every time they
- 7:57Speaker 1: go to the grocery store or to the gas station.
- 7:59Speaker 1: Why does it remain so stubbornly high? You know? And
- 8:02Speaker 1: that is the big question. The Fed has been raising
- 8:04Speaker 1: interest rates now for months, and these numbers are still
- 8:08Speaker 1: near forty year highs. And when you dig inside these numbers,
- 8:11Speaker 1: and this is what everyone's really paying close attention to
- 8:13Speaker 1: this morning, Beanna, when you strip out food and energy,
- 8:16Speaker 1: that core inflation, annual core inflation six point six percent,
- 8:21Speaker 1: that is the highest since nineteen eighty two. So that
- 8:23Speaker 1: is a fresh forty year high for core inflation. And
- 8:27Speaker 1: month over month core inflation zero point six percent. That
- 8:30Speaker 1: matches what we saw in August. Overall inflation, you can
- 8:33Speaker 1: see on a line chart how it's off the worst
- 8:36Speaker 1: levels that we'd seen earlier this year, maybe showing signs
- 8:41Speaker 1: of turning or peaking. That's what everybody wants to know.
- 8:44Speaker 1: But what you are feeling year over year, gasoline prices
- 8:48Speaker 1: up more than eighteen percent from last year. Food prices
- 8:51Speaker 1: still up eleven percent, and shelter shelter prices have been rising,
- 8:55Speaker 1: and this is the part of the economy that you
- 8:57Speaker 1: can't quickly change. You can go to different store brands,
- 9:00Speaker 1: or you can shop differently and switch out your cuts
- 9:03Speaker 1: of meat, right if you're a shopper for your grocery bill.
- 9:05Speaker 1: Much more difficult when you're talking about your housing costs. Now,
- 9:09Speaker 1: these rising prices have been so punishing for so long.
- 9:12Speaker 1: The cost of living adjustment for Social Security recipients last year.
- 9:16Speaker 1: Next year, we've just found out, will be eight point
- 9:18Speaker 1: seven percent. So the seventy million people who receive a
- 9:21Speaker 1: Social Security checker those sorts of benefits starting in January,
- 9:25Speaker 1: we'll have about one hundred and forty six dollars on
- 9:27Speaker 1: average more a month to try to compensate for this
- 9:29Speaker 1: high inflation. Beianna. Yeah, these two ures. Again, this is
- 9:33Speaker 1: CNN you're hearing, Okay, so be clear about that. This
- 9:36Speaker 1: is CNN telling you all of this. They're now saying
- 9:41Speaker 1: to you that this is really bad. They're saying to
- 9:44Speaker 1: you that this is brutal. They're saying to you that
- 9:47Speaker 1: these numbers are skyrocketing and you are going to be
- 9:52Speaker 1: the victim of this for probably years to come. Because
- 9:56Speaker 1: the annual core inflation at six point six percent is
- 9:59Speaker 1: the highest sense nineteen eighty two. That's a fresh forty
- 10:03Speaker 1: year high for core inflation. And that's coming from CNN.
- 10:08Speaker 1: Like they're not screwing around with this. They're understanding they
- 10:11Speaker 1: can't keep lying to you about just how bad this is.
- 10:15Speaker 1: Bloomberg has come out talking about just how bad things
- 10:19Speaker 1: are this morning as well, and they had this to
- 10:22Speaker 1: say moments ago on Bloomberg about the economy, he says,
- 10:25Speaker 1: a prudent use of the asset. Other people are very
- 10:27Speaker 1: worried about this. You've drained the spr so it's lowest
- 10:30Speaker 1: level in four decades. The some accusation that you're using,
- 10:33Speaker 1: you're putting the polls before America's energy security, Brian. The
- 10:37Speaker 1: Saudis themselves said this morning that the US requested a
- 10:40Speaker 1: one month's delay to the OPEC plus output. I wonder
- 10:43Speaker 1: why that would be, Brian, Can you tell me whether
- 10:45Speaker 1: you did ask the Saudie's for a one month's delay
- 10:47Speaker 1: to that decision? Are they toning the truth now? This
- 10:50Speaker 1: is obviously Bloomberg calling out this Senior House by an
- 10:54Speaker 1: economic advisor. All right, Brian Das, who's who's asking Like,
- 10:58Speaker 1: you guys clearly are trying to fix the markets. You
- 11:00Speaker 1: asked for one month delay from OPEC. They're saying that
- 11:04Speaker 1: you guys are trying to artificially, you know, change the
- 11:07Speaker 1: price of gas for just one month to make it
- 11:09Speaker 1: through the midterms, and they're now calling you out for
- 11:13Speaker 1: this quid pro quo. You know, what do you have
- 11:15Speaker 1: to say the thoughties? Listen to the White House's response. Look,
- 11:20Speaker 1: we we clearly communicated our views to OPEC members that
- 11:24Speaker 1: we thought it was shortsighted for them to take the
- 11:26Speaker 1: action that they were contemplating, and they announced with respect
- 11:30Speaker 1: of the Strategic Patroleum Reserve. This was a calibrated decision
- 11:34Speaker 1: to address the real issues in the market. We talked
- 11:38Speaker 1: to US industry last winter. We identified that there was
- 11:40Speaker 1: about a million barrel a day gap between what they
- 11:43Speaker 1: were producing this winter and what they said that they
- 11:45Speaker 1: could get production to buy late this fall. That million
- 11:49Speaker 1: barrel gap was what we calibrated to make the decision
- 11:52Speaker 1: on the use of the Strategic Patroleum Reserve. And people
- 11:55Speaker 1: should feel confident that the Strategic Patrol and Reserve continues
- 11:58Speaker 1: to be an asset that we can deploy to address
- 12:01Speaker 1: our economic and national security needs. That's always what has
- 12:05Speaker 1: dictated the present's decision making on this, and that's what
- 12:07Speaker 1: I will dictate his decision making on this going forward.
- 12:09Speaker 1: And you didn't ask the questions. I love It's right,
- 12:11Speaker 1: Bloomberg is like, you didn't answer the question. You just
- 12:14Speaker 1: made up a bunch of crap. Right, you're the White
- 12:16Speaker 1: House National Economic Council Director. You didn't answer the question.
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- 13:59Speaker 1: Even Boomberg is saying, you guys are stupid. You didn't
- 14:03Speaker 1: answer our question. You're in charge, Brian Dast You're the
- 14:06Speaker 1: White House National Economic Council Director. We asked you a
- 14:09Speaker 1: basic question about you guys trying to influence the price
- 14:13Speaker 1: of all in gas for just one month with OPEC
- 14:16Speaker 1: basically trying to bribe OPEC to give you what you
- 14:18Speaker 1: need to hopefully, you know, make it where your losses
- 14:21Speaker 1: in the midterms aren't that bad. By having a fake
- 14:24Speaker 1: gas price, it's gonna immediately skyrocket the day the elections happened,
- 14:28Speaker 1: because you're gonna stop dumping oil from the strategical reserves
- 14:31Speaker 1: and you know that OPEC is going to cut oil production.
- 14:34Speaker 1: And listen to Bloomberg, just tear into the White House, Brian,
- 14:39Speaker 1: you didn't asker the question, so I'm going to ask
- 14:40Speaker 1: it again. I'm going to share with you and share
- 14:42Speaker 1: with our audience the quote from the saudiast to Semonic.
- 14:46Speaker 1: The Government of the Kingdom of Saudi Arabia would like
- 14:48Speaker 1: to clarify the based on this belief in the importance
- 14:50Speaker 1: of dialogue and exchange of views with its allies and
- 14:52Speaker 1: partners outside of OPEC PLUS regarding the situation of the
- 14:55Speaker 1: oil markets. The Government of the Kingdom clarified through its
- 14:58Speaker 1: continuous consultation with the US administ the all economic analyses
- 15:02Speaker 1: indicate the postponing the OPEC PLUS decision for a month.
- 15:05Speaker 1: According to what it's been suggested would have had negative
- 15:08Speaker 1: economic consequences. Brian, Again, it's a really straight question. Did
- 15:12Speaker 1: you ask the Saudis to delay that decision for a month?
- 15:15Speaker 1: Are they telling the truth or not? Look, I'm not
- 15:19Speaker 1: going to I'm not going to get on air and
- 15:22Speaker 1: disclose private conversations that have shad it with us. It's
- 15:25Speaker 1: called the opportunity to societs true or not? Is it
- 15:28Speaker 1: true or not? What I will say, what I will
- 15:30Speaker 1: say or what I will say clearly is that the
- 15:32Speaker 1: communications that we've had with OPEC members and continuing have
- 15:35Speaker 1: been based on our assessment of the economic circumstances of
- 15:39Speaker 1: supply and demanding global oil markets. We disagree. I mean,
- 15:43Speaker 1: these guys they're just getting hammered today because there's no
- 15:46Speaker 1: way to overlook what the Saudis have come out and said,
- 15:49Speaker 1: and what the Saudis have come out and said is, hey,
- 15:51Speaker 1: you guys just need to know, uh, you know that
- 15:54Speaker 1: that that we were basically bribe by the Biden administration
- 15:58Speaker 1: to artificially change what we were going to do. That's
- 16:02Speaker 1: what the Saudis are saying. They're saying, this is a
- 16:04Speaker 1: quid pro quote. Where's the impeachment hearings, right, because that's
- 16:07Speaker 1: what that's exactly what this should be. And Brian Dee's,
- 16:09Speaker 1: by the way, goes out. They're also on CNN and
- 16:13Speaker 1: has this to say about gas prices again, lying to
- 16:15Speaker 1: you and Americans expect to see higher prices at the
- 16:18Speaker 1: pump with OPEC plus a surprising decision to cut production
- 16:21Speaker 1: by two million barrels a day. Well, here's what I'll say.
- 16:25Speaker 1: Most Americans are seeing presses the pump now that are
- 16:27Speaker 1: down a dollar a dollar twenty from where they were
- 16:30Speaker 1: this summer. And the prices that energy companies are paying,
- 16:33Speaker 1: the wholesale prices are at historically low levels compared to
- 16:37Speaker 1: what the retail prices are being paid. And so if
- 16:40Speaker 1: market markets do what they should do, those retail prices
- 16:43Speaker 1: should come down. They should come down over the course
- 16:45Speaker 1: of the next couple of weeks, and consumers should see
- 16:48Speaker 1: that at the in terms of the retail price that
- 16:51Speaker 1: they pay. So that's where we are communicating when we're
- 16:54Speaker 1: talking to energy companies and industry anals. Those prices should
- 16:56Speaker 1: come down, and we're hopefully they will over the next
- 16:58Speaker 1: couple of weeks. Oil prices up from their low just
- 17:01Speaker 1: last month. We of course will be following and watching
- 17:04Speaker 1: it closely. I mean, these scumbags ever seen in like
- 17:07Speaker 1: the way she asked that, she asked the question. He
- 17:09Speaker 1: gets to lie, he gets to put out his propaganda,
- 17:12Speaker 1: and they're like, well, well see what happens. Right, Thank
- 17:15Speaker 1: you Brian for coming on and giving us that propaganda.
- 17:17Speaker 1: At least Bloomberg flat out called him out on this
- 17:20Speaker 1: and was like no, no, like, we're not going to
- 17:23Speaker 1: allow this to happen, right, I mean even the White
- 17:25Speaker 1: House today they went on Fox News channel, and Fox
- 17:28Speaker 1: News asked questions the way they should have asked questions, saying,
- 17:31Speaker 1: you guys are all over the place on inflation. Listen
- 17:34Speaker 1: to this percent in September. Clear, I stripped energy out
- 17:40Speaker 1: of my question because I was just talking about core inflation. Continue, No,
- 17:43Speaker 1: core inflation strips out energy and food. But when we're
- 17:46Speaker 1: talking about squeezing family budgets, we really have to talk
- 17:49Speaker 1: about energy and food. And it is the case that
- 17:52Speaker 1: while gas prices did start to rise at the end
- 17:55Speaker 1: of September, in today's report they were down five percent.
- 17:58Speaker 1: But look, nobody is denying fundamental point, which is this
- 18:02Speaker 1: is a real squeeze on family budgets, and I think
- 18:05Speaker 1: the question is our policymakers doing what they need to do.
- 18:09Speaker 1: The President released oil from the Strategic Reserve that contributed
- 18:12Speaker 1: to almost one hundred day of gas de clients. I
- 18:14Speaker 1: mentioned our work on the supply side, the Inflation Reduction Act,
- 18:18Speaker 1: lowering medical care costs, lowing prescription drug costs, lowering the
- 18:21Speaker 1: cost of clean energy. I mean, is this is it
- 18:25Speaker 1: when you know they're desperate? Right? This is Jared Bernstein,
- 18:28Speaker 1: White House Council of Economic Advisors, who's going through the
- 18:32Speaker 1: entire list of all the things that they're trying to
- 18:35Speaker 1: claim they're doing and saying, well, yeah, it's a real
- 18:37Speaker 1: squeeze on family budgets. But everything's moving in the right direction.
- 18:40Speaker 1: Everything is not moving them moving in the right direction.
- 18:42Speaker 1: He just said it's moving the right direction. It's literally
- 18:44Speaker 1: not moving in the right direction. It's moving the opposite direction.
- 18:49Speaker 1: Dana Perino jumps in, she says, all right, and then
- 18:52Speaker 1: he says this, so all of these are moving in
- 18:55Speaker 1: the right direction. They take time to factor into these
- 18:59Speaker 1: price into and we'd like to have a quick cost
- 19:03Speaker 1: But first question, have a couple of questions here. So
- 19:05Speaker 1: I love this right, like, oh, you know, you know
- 19:08Speaker 1: it's it's head in the right direction. No, it's not.
- 19:10Speaker 1: None of this is heading in the right direction. It's
- 19:14Speaker 1: all heading in the wrong direction. And you guys sit there,
- 19:18Speaker 1: you're like, no, heading the right direction. I, No, it's not.
- 19:20Speaker 1: It's Every number says that you're lying. Every number says
- 19:23Speaker 1: that you're wrong. The Saudis are throwing you under the
- 19:26Speaker 1: bus now. They're telling you that you're lying that The
- 19:29Speaker 1: Saudis are are literally looking at you saying watch this
- 19:33Speaker 1: right like, watch it, We're gonna bring it to you.
- 19:37Speaker 1: You guys did a quid pro quo here it is
- 19:41Speaker 1: a forty year high with inflation, and then immediately says,
- 19:45Speaker 1: we don't need to change our economic policies. What we're
- 19:50Speaker 1: doing is working. The White House says that Bill Hammers
- 19:54Speaker 1: is sir, is it time for the White House and
- 19:55Speaker 1: the Biden administration to pivot on its economic policies? Burn
- 20:00Speaker 1: seeing No, I think what we have is the white
- 20:02Speaker 1: at the White House, the Federal Reserve. We're actually aware
- 20:05Speaker 1: of the pressures that cause that this causes on American
- 20:08Speaker 1: families and budgets. The Presents started out this morning by
- 20:11Speaker 1: talking about how Americans are squeezed by the cost of living,
- 20:13Speaker 1: and they didn't need this report to remind them of that.
- 20:16Speaker 1: But that's certainly in the report. But we're headed in
- 20:19Speaker 1: the right direction, We're not headed in the right direction.
- 20:22Speaker 1: Inflation was eight point two percent in September. Inflation is
- 20:26Speaker 1: outpacing wages. We're actually, we're acutely aware of the pressure
- 20:31Speaker 1: that this caused on American families and American family budgets.
- 20:34Speaker 1: Budgets here that if you are acutely aware of what
- 20:39Speaker 1: is happening right and the way that you're describing it,
- 20:41Speaker 1: and why would you say we're heading the right direction
- 20:44Speaker 1: when the numbers actually say we are headed in the
- 20:47Speaker 1: wrong direction. Because when you have a media the way
- 20:51Speaker 1: that we have a media that can lie to you
- 20:53Speaker 1: this way, they can have these representatives go out there
- 20:56Speaker 1: on TV and just act like all this is is
- 21:00Speaker 1: is completely normal, right, and just say everything's fine, even CNBC.
- 21:07Speaker 1: This is how they described the inflation numbers. And finally,
- 21:11Speaker 1: year over years strip out food and energy also hotter
- 21:14Speaker 1: than expectations of six point six. That follows six point three,
- 21:20Speaker 1: and six point six is a new high. The old
- 21:24Speaker 1: high was six point five in March that went back
- 21:27Speaker 1: to nineteen eighty two, nineteen eighty two. The wheels are
- 21:33Speaker 1: coming off the bus, and I don't think they're gonna
- 21:36Speaker 1: be able to hide it through the election. That's what
- 21:39Speaker 1: this means, right. The inflation was hotter than expected in September,
- 21:44Speaker 1: and yet the White House says, no, no no, no, we're
- 21:45Speaker 1: headed in the right direction. All right. So we're looking
- 21:48Speaker 1: at a month over month gate of point four percent.
- 21:51Speaker 1: The estimate was point two percent month over month, coming
- 21:54Speaker 1: in at pot point four percent year over year eight
- 21:58Speaker 1: point two percent, that is hotter than expected. Again, coming
- 22:04Speaker 1: in month over month hotter than expected at point four percent,
- 22:08Speaker 1: and again eight point two percent is the headline CPI
- 22:12Speaker 1: number for the month of September. That is hotter than expected. Again,
- 22:17Speaker 1: if you strip out food and energy six point six percent,
- 22:21Speaker 1: that is your core number a year of year, hotter
- 22:25Speaker 1: than expected. Guys, hotter than expected. There goes your markets down,
- 22:29Speaker 1: down two hundred and forty one points. By the way,
- 22:31Speaker 1: in the time that she said that Dow future is
- 22:35Speaker 1: when she's started the comments I just played for you
- 22:38Speaker 1: were up two hundred and ninety three points. That's where
- 22:43Speaker 1: the Dow futures were. Then they went down seventy one.
- 22:47Speaker 1: This in real time, all right, as she was talking.
- 22:50Speaker 1: Then they go down another eighty right, This is I mean,
- 22:54Speaker 1: this is happening in real time as she's speaking for
- 22:56Speaker 1: forty seconds. Then they jumped down one hundred and sixty
- 22:59Speaker 1: one one points because it's and then it goes to
- 23:03Speaker 1: one hundred and seventy six. The dow down in one
- 23:05Speaker 1: seventy six in the futures, So we went from then
- 23:08Speaker 1: one eighty right, and this is thirty three seconds in
- 23:11Speaker 1: I'm watching this in real times, and then it goes
- 23:13Speaker 1: to one ninety five down right as she's finishing up
- 23:17Speaker 1: these numbers it's hitting. Then it goes then it hits
- 23:19Speaker 1: two forty one down. So in a span of forty
- 23:25Speaker 1: one seconds, the dow went from two ninety five up
- 23:31Speaker 1: to at the very end when she was saying the
- 23:33Speaker 1: last thaying down two forty one a five hundred point
- 23:37Speaker 1: you know, total split out of nowhere. Because this administration
- 23:42Speaker 1: has no idea what the hell to do when it
- 23:45Speaker 1: comes to inflation, and they have no idea what to
- 23:48Speaker 1: do when it comes to energy, and they refuse to
- 23:50Speaker 1: allow us to do what we need to do to
- 23:51Speaker 1: protect ourselves with energy independence. And now we find out
- 23:55Speaker 1: they were basically trying to bribe the Saudis to delay
- 23:58Speaker 1: their two million barrel a day of old protection that
- 24:01Speaker 1: they were going to decrease until after the midterm elections.
- 24:05Speaker 1: Then they were going to say go ahead and do it,
- 24:07Speaker 1: just say the liberal Democrats until then, that was the
- 24:10Speaker 1: quid pro quo. Now, before I get into more of
- 24:13Speaker 1: this story, I want to say thank you and tell
- 24:15Speaker 1: you about our good friends at Legacy Precious Medals. Without them,
- 24:18Speaker 1: the show wouldn't be possible. And if you have not
- 24:22Speaker 1: looked at gold and silver as a way to protect
- 24:24Speaker 1: your hard earned dollars against what the happening on Wall
- 24:26Speaker 1: Street with inflation, it's time for you to call them
- 24:30Speaker 1: and get the free Investor's Guide. Why because so many
- 24:32Speaker 1: around the world are now using gold and silver, and
- 24:35Speaker 1: historically they have for decades as a protection a hedge
- 24:39Speaker 1: against inflation, which is exactly what we're dealing with right now.
- 24:42Speaker 1: If you're terrified to look at your retirement account, your
- 24:45Speaker 1: four one case statement because of what's happening on Wall Street,
- 24:48Speaker 1: that's all the more reason why you should call and
- 24:50Speaker 1: get the investors God in gold and silver protect your
- 24:53Speaker 1: hard earned money and diversify. Call them and get the
- 24:56Speaker 1: free investor's Guide from Legacy Precious Medals eight six six
- 25:01Speaker 1: seven five one twenty two eighteen one eight six six
- 25:06Speaker 1: seven five one twenty two eighteen or online at Legacy
- 25:10Speaker 1: PM investments dot com. All right, a few minutes ago,
- 25:16Speaker 1: I sat down with my good friend Bill O'Reilly and
- 25:18Speaker 1: we talked about this quid pro quo, and I want
- 25:21Speaker 1: you to hear our conversation. Take a listen. Bill. It's
- 25:24Speaker 1: always a pleasure to have you on. Nice, nice to
- 25:26Speaker 1: have you with us. Thank you, Benn. How are you
- 25:30Speaker 1: doing well. I want to hit a couple big headlines
- 25:32Speaker 1: real quick, and then I want to get into the book.
- 25:35Speaker 1: One of those headlines is this shock this morning, and
- 25:40Speaker 1: this is really, I think, telling you about the Saudis
- 25:44Speaker 1: and how little respect they have for our president. The
- 25:47Speaker 1: Kingdom of Saudi Arabia has come out and confirmed that
- 25:52Speaker 1: Biden attempted to coerce them to postpone their oil cuts
- 25:56Speaker 1: until after the mid terms, and announced that they have objected.
- 26:00Speaker 1: They're calling at this a quid pro quo. Your reaction
- 26:05Speaker 1: to the Saudi's basically throwing the United States of America
- 26:09Speaker 1: are President under the bus in this way. I've never
- 26:12Speaker 1: had much respect for Saudi Arabia. I don't think it's
- 26:15Speaker 1: a country that is looking out for Americans in any way.
- 26:19Speaker 1: We need them as a bulwark against Iran, which is
- 26:22Speaker 1: why there are ally But they're fairly pernicious people, harmful people. Obviously,
- 26:29Speaker 1: they don't like Biden. They want to embarrass them. They have.
- 26:32Speaker 1: The worst thing is they've thrown in with putin the Saudi's.
- 26:36Speaker 1: I mean, that's just a disgrace and is known. But
- 26:39Speaker 1: I mean these are people who execute, you know, thirty
- 26:41Speaker 1: forty people at a at a throw. I'm chopping people's
- 26:44Speaker 1: hands off. I mean, this is a primitive government with
- 26:47Speaker 1: no human rights perspective at all. And as for Biden,
- 26:51Speaker 1: I interviewed former Secretary of State Mike Pompeo this week
- 26:56Speaker 1: and he basically said, and I believe this is true, Ben,
- 27:01Speaker 1: very few world leaders respect Biden, even our allies. They
- 27:04Speaker 1: know he's be fuddled, they know he's incompetent. They're very
- 27:07Speaker 1: worried about the next two years. So the Saudis knew
- 27:10Speaker 1: to get away with this. If Trump were president, obviously
- 27:14Speaker 1: they wouldn't have done it because Trump would have had
- 27:16Speaker 1: a huge reprisal against the Saudis, but Biden would do
- 27:20Speaker 1: anything because that's who Biden is. But all Americans are gonna,
- 27:25Speaker 1: you know, get pounded in the next three or four
- 27:27Speaker 1: months on as gas prices go up again, and that'll
- 27:31Speaker 1: lead to hire food prices. So there you go. You
- 27:34Speaker 1: look at the president and you just mentioned that everybody's
- 27:37Speaker 1: taking advantage of him. He had another big blunder yesterday.
- 27:41Speaker 1: Biden said that his son Bo lost his life in
- 27:44Speaker 1: Iraq during the speech that he gave in Colorado. His
- 27:47Speaker 1: son Bo died of brain cancer in twenty fifteen, not
- 27:50Speaker 1: in Iraq. When you look at these types of blunders,
- 27:55Speaker 1: I am at the point now and I genuinely feel
- 27:57Speaker 1: sorry for anyone that's losing their cognitive function. I feel
- 28:01Speaker 1: sorry for anybody that's dealing with whether it be Alzheimer's, dementia, etc.
- 28:05Speaker 1: I'm not a doctor, right, I don't know what's wrong,
- 28:08Speaker 1: but I do know something's wrong, and the rest of
- 28:10Speaker 1: the world is watching this, and like you said, they're
- 28:12Speaker 1: taking advantage of it. Yeah, there's no question that everybody knows.
- 28:16Speaker 1: Now Biden's in cognitive decline. He's going to be eighty
- 28:20Speaker 1: in November on the bow Biden front. I caught him
- 28:24Speaker 1: slack because there is a school of thought that says
- 28:27Speaker 1: that bo got the brain cancer through chemical agents that
- 28:33Speaker 1: he countered in a wreck. So maybe maybe that's what
- 28:37Speaker 1: his father was talking about. See these kind of small
- 28:39Speaker 1: ball things, they don't really matter to me. You know,
- 28:43Speaker 1: there's Biden on a stage asking for a dead person.
- 28:47Speaker 1: It's more of a car wreck than policy. What I'm
- 28:51Speaker 1: concerned about is that, in my opinion, and I believe
- 28:55Speaker 1: I am absolutely right, Joe Biden is incapable of absorbing information.
- 29:01Speaker 1: Then that's the key to this. He cannot absorb information.
- 29:06Speaker 1: So he doesn't understand that if you attack the facile
- 29:10Speaker 1: fuel industry, if you attack American energy, that American energy
- 29:15Speaker 1: is then going to cut back. If you put regulations
- 29:18Speaker 1: on the industry, it's harder to harvest oil. He doesn't
- 29:22Speaker 1: understand that, and that has led to the inflation into
- 29:26Speaker 1: all of the economic car they were experiencing. Now you
- 29:29Speaker 1: got a guy to run into country who doesn't understand
- 29:33Speaker 1: cause and effect. You got a major problem. You look
- 29:37Speaker 1: at gas prices now, and you mentioned this earlier bill,
- 29:41Speaker 1: and that was you know, Democrats saying, all right, well,
- 29:43Speaker 1: we're gonna blame Russia for this and the Saudis for this. Well,
- 29:46Speaker 1: if you know that Russia and the Saudis always act
- 29:49Speaker 1: this way, and you and I both know they always
- 29:51Speaker 1: will anytime they can screw us, they're gonna do it.
- 29:54Speaker 1: It's part of their foreign policy. Then why would you
- 29:59Speaker 1: not go back to more energy independence? And yet they're
- 30:02Speaker 1: still sitting there just basically acting like, hey, we'll artificially
- 30:05Speaker 1: try to keep the prices down. Our strategic oil reserves
- 30:08Speaker 1: at the lowest level they've been in my lifetime. They're
- 30:11Speaker 1: pumping millions of barrels of oil into the market every day,
- 30:14Speaker 1: yet half that's going overseas, if not more, and they're
- 30:18Speaker 1: just trying to keep these prices down until the midterms.
- 30:21Speaker 1: That then that that artificial deflation, right, that artificial price
- 30:26Speaker 1: decrease of the million plus barrels are putting out there
- 30:29Speaker 1: every day from our strategical reserves is going to dry
- 30:31Speaker 1: up literally the day of the election. Sure, I mean,
- 30:36Speaker 1: it's you know, this is the way politics work in America.
- 30:42Speaker 1: I think that the November eighth election is crucial that
- 30:47Speaker 1: if Republicans can take the House, that'll put the brakes
- 30:51Speaker 1: on the Biden administration. They're not going to be able
- 30:54Speaker 1: to get anything past anything done. Any executive order be
- 30:57Speaker 1: immediately challenged in federal court. They're not going to be
- 31:00Speaker 1: able to reverse the damage that Biden is done, but
- 31:03Speaker 1: to be able to stop it, particularly on the mass
- 31:06Speaker 1: of spending front the Senate. Um, you know, who knows
- 31:11Speaker 1: some bad Republican candidates in the UH on the sheet here,
- 31:15Speaker 1: So nobody really knows that that's going to come down.
- 31:17Speaker 1: But I am fairly confident that the House will go
- 31:21Speaker 1: overwhelmingly to the Republicans. And then you're gonna see a
- 31:25Speaker 1: lot of hearings about Biden and the things that Biden
- 31:29Speaker 1: is done that are going to be really gruesome, and
- 31:33Speaker 1: he may be impeached over failure to enforce border laws
- 31:38Speaker 1: that are along on the border. Biden could be impeached
- 31:40Speaker 1: on that. Not going to get condicted, but you know
- 31:42Speaker 1: it would be paid back for the Trump stuff that
- 31:45Speaker 1: could happen. So anyway, Um, you know, if you want it,
- 31:49Speaker 1: if you like your country the way it is now,
- 31:51Speaker 1: vote Democrat on November eight. I want to ask you
- 31:54Speaker 1: one last question before you get to the book, and
- 31:55Speaker 1: that's what you mentioned the border and let's let's talk
- 31:58Speaker 1: about the feedinal that's coming across the border. The numb
- 32:00Speaker 1: number one killer of forty and under this year is
- 32:03Speaker 1: going to be fetnel, and it is. There's a lot
- 32:05Speaker 1: of people that unfortunately use drugs but have no intention
- 32:09Speaker 1: of dying instantly from there being laced with fetnel. And
- 32:13Speaker 1: this administration refuses to do anything at all to secure
- 32:17Speaker 1: the border. It's obvious we have more people coming across
- 32:20Speaker 1: the border now than any other time in history. This
- 32:23Speaker 1: administration keeps lying and saying, oh, we have a secure border.
- 32:26Speaker 1: Obviously we don't have a secure border. It's wide open.
- 32:30Speaker 1: And yet we saw this phone call that got leaked
- 32:33Speaker 1: yesterday of Bo Biden pleading with his brother's ex wife
- 32:39Speaker 1: for her to release him some airline points to quote
- 32:44Speaker 1: check himself into rehab. Now, it was obvious he was
- 32:47Speaker 1: an addict, you could hear it. I felt compassion for him,
- 32:50Speaker 1: I felt sad. But there was something very revealing in
- 32:53Speaker 1: that in that audiotape, and that is he said, well,
- 32:55Speaker 1: give it to uncle Jimmy, and she said no because
- 32:58Speaker 1: she didn't trust the uncle to actually do the right thing.
- 33:01Speaker 1: And he says, we'll give it to my dad, and
- 33:02Speaker 1: she says no, she says, I'll put you into rehab.
- 33:05Speaker 1: I'm not going to trust them to do it for you.
- 33:07Speaker 1: And I look at this and it's almost like this
- 33:10Speaker 1: family knew that their son and their nephew was an addict.
- 33:14Speaker 1: They exploited it to make money off him, knowing he
- 33:17Speaker 1: could do things they would never do. And then their alibi,
- 33:20Speaker 1: which is clearly what this administration has been talking about.
- 33:22Speaker 1: The President did in this big interview with Jake Tapper
- 33:25Speaker 1: right where he's like, well, he's an addict. He overcame this.
- 33:27Speaker 1: I'm so proud of him. That's the alibi for this.
- 33:30Speaker 1: And it's like, well, if they don't even care about
- 33:32Speaker 1: their own son and helping protect him from the addiction
- 33:35Speaker 1: and giving him and cutting him off from the millions
- 33:37Speaker 1: right that he was bringing in and saying, you're not
- 33:40Speaker 1: working this business anymore if it was legitimate, they exploited him, Bill,
- 33:44Speaker 1: and then people expect him to do something at the
- 33:47Speaker 1: border with no, he didn't even care to stop the
- 33:50Speaker 1: drug abuse with his own son. Well, I can't address
- 33:55Speaker 1: the own son business because I was in there and
- 33:57Speaker 1: I don't know the dynamic and signed the family. But
- 34:00Speaker 1: I can't address the fact that the president of the
- 34:03Speaker 1: United States does not care and that's absolutely true what
- 34:07Speaker 1: you said. He does not care about massive amounts of
- 34:13Speaker 1: narcotics crossing into the United States. He has no plan
- 34:18Speaker 1: to combat it, he has put no emphasis on it,
- 34:22Speaker 1: hasn't done a nationwide address, hasn't done anything because number one,
- 34:27Speaker 1: he doesn't know what to do, and number two, he
- 34:30Speaker 1: doesn't care about it. So again, and you're looking at efficiency.
- 34:37Speaker 1: When you elect the president, you expect the president to
- 34:40Speaker 1: be able to do the job. Trump did the job
- 34:43Speaker 1: pretty well. He ran the country pretty well in the
- 34:46Speaker 1: four years. That's beyond dispute. You don't like Trump, okay,
- 34:50Speaker 1: you don't like is he irresponsible sometimes in his statements? Absolutely?
- 34:56Speaker 1: Does he do things he shouldn't do? Absolutely? Did he
- 35:00Speaker 1: run the country well, yes, he did. So it's a trade.
- 35:04Speaker 1: And you traded Trump for Biden. If you voted for Biden,
- 35:08Speaker 1: that's what you traded. Happy. Are you happy with that?
- 35:13Speaker 1: I mean, you got to break it down to its
- 35:14Speaker 1: simplest component. I don't know what Joe Biden prioritizes this
- 35:18Speaker 1: in his life at this point. I just think that
- 35:21Speaker 1: the man wanders, and that I use that word literally wanders.
- 35:26Speaker 1: Through the day and who's told what to do by
- 35:29Speaker 1: his wife and his staff, and he does it. That's it. Yeah,
- 35:34Speaker 1: it's clear that his wife is a caretaker. You can
- 35:36Speaker 1: see it in public now and that's obvious. I want
- 35:39Speaker 1: to move to this book. It's gonna be another big bestseller.
- 35:42Speaker 1: The series that you do. These books are incredible. I've read.
- 35:46Speaker 1: I've got the one literally on my desk right now
- 35:49Speaker 1: when I fly. I've been reading Killing the Killers. It's
- 35:51Speaker 1: an awesome book. If you haven't gotten that one, The
- 35:53Speaker 1: Secret War against Terrace. You've got a new book though
- 35:56Speaker 1: coming out. It's gonna be great for the holidays, great
- 35:58Speaker 1: stocking stuff for Killing the Ledge. The Lethal Danger of Celebrity,
- 36:03Speaker 1: and one of those celebrities is from my hometown, Elvis.
- 36:07Speaker 1: Talk a little bit about this book in the Elvis
- 36:09Speaker 1: aspect of it as well. Okay, so basically what you
- 36:14Speaker 1: have here in Three Men Who Changed American culture. Elvis
- 36:19Speaker 1: Presley late nineteen fifties, teenager from Mississippi goes on Ed
- 36:24Speaker 1: Sullivan sings a dope song called hound Dog crashes the
- 36:29Speaker 1: entire conformist culture in America. Here comes rock and roll rebellion.
- 36:34Speaker 1: One guy, he did it and then in sixty four
- 36:39Speaker 1: the Beatles come over to the spear Point for five
- 36:42Speaker 1: years of sex, drugs, and rock and roll. We have
- 36:45Speaker 1: that culture now. And then Muhammad Ali refuses to be
- 36:50Speaker 1: inducted in the armed forces, raises descent to the highest
- 36:53Speaker 1: level ever, and then becomes a civil rights icon. All
- 36:58Speaker 1: three of these people changed American culture. This is a
- 37:02Speaker 1: history book, and all three of them were crushed, destroyed
- 37:08Speaker 1: by their fame, and betrayed by the people closest to them.
- 37:13Speaker 1: It is an unbelievably compelling story. This is the twelfth
- 37:17Speaker 1: Killing book. First one I've written about culture, the other
- 37:20Speaker 1: eleven or about President's awards. You know what they are?
- 37:24Speaker 1: Nineteen million copies of my books in print, the most
- 37:26Speaker 1: successful non fiction book series of all time. And I'm
- 37:29Speaker 1: getting you know, the Killing Legends is one of the best.
- 37:33Speaker 1: If you go to Amazon, you look at the reviews
- 37:35Speaker 1: by customers who read the book, eighty seven percent give
- 37:38Speaker 1: it an excellent rating. That's higher than any of the
- 37:41Speaker 1: other Killing books except for Jesus. And it's really rough
- 37:44Speaker 1: to criticize Jesus. You got to give him some slack
- 37:46Speaker 1: at them, Yeah, no doubt about that. When you were
- 37:51Speaker 1: writing these books. I know you guys, you and your team,
- 37:53Speaker 1: you'll pour into research. What was probably the most shocking
- 37:57Speaker 1: thing that you learned while writing this book, Killing the Legends,
- 38:01Speaker 1: The lethal danger of celebrity. I guess the Beatles broke
- 38:05Speaker 1: up because John Lennon became a heroin addict. So everybody
- 38:10Speaker 1: thinks it was finance, and there was some of that,
- 38:14Speaker 1: but once Lennon was taken over by Yoko Ono, who
- 38:18Speaker 1: ran his entire life, you can't addicted to heroin, and
- 38:22Speaker 1: that's what really broke up the Beatles. The other three
- 38:24Speaker 1: one wait a minute, hold it, what is this? And
- 38:29Speaker 1: that was shocking to me. I did not know that. Wow.
- 38:32Speaker 1: And you also mentioned and I think this is tell
- 38:36Speaker 1: is a cautionary tale for everybody. Be careful you surround
- 38:39Speaker 1: yourself with all of these legends, as you described it,
- 38:42Speaker 1: were literally betrayed by the people that were closest to them.
- 38:46Speaker 1: And when you get them involved in drugs, then you
- 38:48Speaker 1: can really manipulate and get exactly what you want because
- 38:52Speaker 1: you know you have an addict that just needs their
- 38:53Speaker 1: next fix. Yeah, Alie didn't take drugs. What Elie did
- 38:59Speaker 1: was he got overwhelmed by his fame, so he went
- 39:02Speaker 1: to the Nation of Islam and I said, and he
- 39:04Speaker 1: said to them, you do it, you take it over,
- 39:05Speaker 1: which they did, and then they took all his money.
- 39:09Speaker 1: So Ali was broke for most of his life because
- 39:11Speaker 1: the Nation of Islam, Herlijah Muhamman son Herbert, who ran
- 39:16Speaker 1: Alie's businesses, they still all the money. So Ali just surrender.
- 39:22Speaker 1: He said, I can't do it. I'm overwhelmed. You do it.
- 39:25Speaker 1: And that's what Elvis did with Tom Parker, and everybody
- 39:28Speaker 1: in Memphis and Tennessee and Mississippi know how Parker a criminal,
- 39:33Speaker 1: I mean, basically ruined Presley. But I don't see these
- 39:36Speaker 1: guys as victims. Ben and they were all smart guys.
- 39:39Speaker 1: They weren't well educated, but they weren't stupid. They knew
- 39:42Speaker 1: what was happening to them, and they allowed it to
- 39:45Speaker 1: go on. Do you think they allowed it because of
- 39:48Speaker 1: the of the stress of being a legend. Yeah. Because
- 39:53Speaker 1: they were crushed by the celebrity. Their lives were just
- 39:57Speaker 1: basically out of control all the time, time, tremendous demands
- 40:02Speaker 1: on them, pressure to perform, all kinds of controversy swirling around,
- 40:11Speaker 1: some of which they engendered, others that didn't and they
- 40:14Speaker 1: didn't get any relief. And Elvis, I believe, wanted to
- 40:18Speaker 1: check out. You don't take that amount of narcotics every
- 40:21Speaker 1: day if you want to live. I think he just said,
- 40:24Speaker 1: you know, look, I want to go subconsciously. Of course.
- 40:29Speaker 1: It's incredible killing the legends the lethal Danger of celebrity
- 40:32Speaker 1: Bill O'Reilly. It's a pleasure to chat with you. As always.
- 40:36Speaker 1: The book is out, grab it wherever you get your books.
- 40:39Speaker 1: It's also going to be a great gift for the
- 40:41Speaker 1: holiday season as well as always, my friend. Great to
- 40:44Speaker 1: have you on. I'm sure you will have you back
- 40:46Speaker 1: again real soon. Okay, Ben, I appreciate it. Let's talk
- 40:50Speaker 1: as you said against soon. Thank you all right. A
- 40:53Speaker 1: quick reminder, I will also be asking center Ted Cruz
- 40:57Speaker 1: on Verdict, the podcast I coached with him about the economy.
- 41:01Speaker 1: Don't miss that, so make sure you grab that download
- 41:03Speaker 1: if you're not listening to Verdict with Ted Cruz, and
- 41:05Speaker 1: I will also see you back here tomorrow on this podcast.
- 41:08Speaker 1: Please make sure you share this podcast with your family
- 41:11Speaker 1: and friends as well and run as five star review.
- 41:13Speaker 1: It helps us tremendously on the charts, which helps us
- 41:17Speaker 1: reach new listeners. See you back here tomorrow