Latest / The Ben Ferguson Podcast / BIDENOMICS Costing Millions a Shot at Home Ownership, plus Inflation Out of Control

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BIDENOMICS Costing Millions a Shot at Home Ownership, plus Inflation Out of Control · The Ben Ferguson Podcast

• 0:01
  Speaker 1: Bidenomics was an idea that the White House came up
• 0:04
  Speaker 1: with a couple of years ago to sell you how
• 0:06
  Speaker 1: great the economy was, even when it actually wasn't really
• 0:09
  Speaker 1: that good. And then they try to use it to
• 0:12
  Speaker 1: tell you how amazing it was that they saved the
• 0:15
  Speaker 1: economy after COVID, when in reality they're the reason why
• 0:19
  Speaker 1: so many people were laid off. Don't worry, the media
• 0:23
  Speaker 1: was going to give them coverage. But the problem now
• 0:25
  Speaker 1: is many Americans are hurting like never before, and we're
• 0:29
  Speaker 1: now seeing that Bidenomics is not only a phrase the
• 0:33
  Speaker 1: White House is not using and Democrats are not using anymore,
• 0:38
  Speaker 1: but the American people are sick and tired of going
• 0:41
  Speaker 1: backwards and moving to paycheck to paycheck mentality.
• 0:45
  Speaker 2: All over again.
• 0:47
  Speaker 1: This on top of the news shocking numbers that have
• 0:50
  Speaker 1: come out when it comes to the cost of living
• 0:53
  Speaker 1: with home ownership. The average monthly mortgage payment has exploded
• 0:59
  Speaker 1: to three things, three hundred and twenty two dollars in
• 1:03
  Speaker 1: Biden's America.
• 1:05
  Speaker 2: Yes, this is coming from the Wall Street Journal.
• 1:08
  Speaker 1: That three thousand, three hundred and twenty two dollars is
• 1:11
  Speaker 1: nearly double the average monthly mortgage payment now in former
• 1:16
  Speaker 1: President Trump left office, the average monthly mortgage payment in
• 1:21
  Speaker 1: this country was one thousand, seven hundred and eighty seven dollars.
• 1:26
  Speaker 1: The number is now three thousand, three hundred and twenty
• 1:30
  Speaker 1: two dollars. Another way of putting it, from the Wall
• 1:32
  Speaker 1: Street Journal's analysis the housing market is the average monthly
• 1:36
  Speaker 1: new home payment when Biden took office was one thousand,
• 1:39
  Speaker 1: seven hundred and eighty seven. Now that average monthly new
• 1:42
  Speaker 1: home payment three thousand, three hundred and twenty two. How
• 1:46
  Speaker 1: is Bidenomics working for you? This after another article came
• 1:50
  Speaker 1: out said the math for buying a home no longer works.
• 1:53
  Speaker 1: These charts are showing why, what does it say and
• 1:56
  Speaker 1: what does it take to buy a home in the
• 1:58
  Speaker 1: US a lot more than it did before the Federal
• 2:01
  Speaker 1: Reserve raise interest rates trying to get inflation under control.
• 2:05
  Speaker 1: Home ownership, to Wall Street Journal, rights has become a
• 2:08
  Speaker 1: pipe dream for more Americans, even those who could afford
• 2:12
  Speaker 1: to buy. Just a few years ago, many would be
• 2:15
  Speaker 1: buyers were already feeling stretched thin by home prices that
• 2:20
  Speaker 1: shot quickly higher in the pandemic, But at least mortgage
• 2:24
  Speaker 1: rates were low. Now they are high, and many people
• 2:28
  Speaker 1: are just quote giving up. Now, when you have articles
• 2:31
  Speaker 1: that are writing about Americans quote just giving up, you
• 2:36
  Speaker 1: know that Bidenomics is not working. Now, let's remember who
• 2:41
  Speaker 1: these people are that we're looking at that are trying
• 2:44
  Speaker 1: to get into the housing market. This is also another
• 2:46
  Speaker 1: point that must be a point that needs to be
• 2:50
  Speaker 1: told by Republican candidates, whether that is Donald Trump or
• 2:53
  Speaker 1: anybody running for governor or Senate or in the House level,
• 2:57
  Speaker 1: they need to be talking about this. It's young people,
• 3:01
  Speaker 1: and where did Joe Biden find votes last time? And
• 3:04
  Speaker 1: the Democratic Party continues to find young people, right, It's
• 3:08
  Speaker 1: young people. That's where they keep winning these elections. When
• 3:12
  Speaker 1: they get young people to show up and vote for them,
• 3:14
  Speaker 1: they're winning. And that's exactly why we need to tell
• 3:17
  Speaker 1: the story. Because the people who are looking to enter
• 3:20
  Speaker 1: the housing market are not old people. They are young people.
• 3:23
  Speaker 1: And who do young people vote for? Overwhelmingly statistically Democrats.
• 3:28
  Speaker 1: So we must look at them and explain to them
• 3:31
  Speaker 1: that if you're losing the ability to buy a home
• 3:34
  Speaker 1: and that home dream is now out of touch with
• 3:36
  Speaker 1: the reality of where you are in your paycheck, then
• 3:39
  Speaker 1: we need to tell them this. Let me read you
• 3:42
  Speaker 1: this from Wall Street Journal quote, it is now less
• 3:45
  Speaker 1: affordable than any time in recent history to buy a home,
• 3:50
  Speaker 1: and the math isn't changing anytime soon. Home prices aren't
• 3:55
  Speaker 1: expected to go back to pre pandemic levels. That are Reserve,
• 4:00
  Speaker 1: which started raising rates aggressively early last year to curb inflation,
• 4:05
  Speaker 1: hasn't shown much interest in cutting them. Mortgage rates slipped
• 4:09
  Speaker 1: to about seven percent last week, the lowest in several months,
• 4:13
  Speaker 1: but they are still more than double what they were
• 4:16
  Speaker 1: just two years ago.
• 4:17
  Speaker 2: And why did the rates come down a little bit?
• 4:19
  Speaker 1: Part of it's because home ownership people are walking away.
• 4:23
  Speaker 1: There is not as much demand right now for those mortgages. Now, look,
• 4:29
  Speaker 1: is this good news, Well, it's good news for people
• 4:31
  Speaker 1: that bought houses several years ago. Right as the one
• 4:34
  Speaker 1: author wrote, this is good news for me. The wife
• 4:36
  Speaker 1: and I purchased our home in ninety seven. Afterwards, we
• 4:40
  Speaker 1: worked hard and saved harder to pay it off by
• 4:42
  Speaker 1: two thousand and three. Ever since, we've been saving our
• 4:45
  Speaker 1: money for retirement. And now that we are of a
• 4:49
  Speaker 1: certain age where it's no longer wise to try to
• 4:52
  Speaker 1: hide or try to ride out the stock market downturns,
• 4:55
  Speaker 1: we have taken advantage of these gloriously high interest rates
• 4:59
  Speaker 1: Democrats that's voted for, our money is now nice and
• 5:02
  Speaker 1: safe and snug, and an interest bearing account working its
• 5:06
  Speaker 1: butt off for us, thinks to the unhoused zoomers, Oh,
• 5:12
  Speaker 1: but you can't buy a home because you voted for Democrats.
• 5:15
  Speaker 2: Cry more.
• 5:15
  Speaker 1: The author says, these ignoxiously high mortgage rates and mortgage
• 5:20
  Speaker 1: payments are not only due to the Biden inflation caused
• 5:23
  Speaker 1: by his lunatic government spending.
• 5:27
  Speaker 2: There are other factors.
• 5:29
  Speaker 1: For those of you who voted Democrat and are currently
• 5:32
  Speaker 1: pissing away all your money on rent because you can't
• 5:35
  Speaker 1: afford a home, Riddle me this what happens to the
• 5:38
  Speaker 1: housing market when a president throws open our southern border
• 5:41
  Speaker 1: to millions and millions of illegal aliens who need a
• 5:44
  Speaker 1: place to live.
• 5:45
  Speaker 2: Think hard, now, the author rights.
• 5:47
  Speaker 1: Could it be that when you have a finite amount
• 5:50
  Speaker 1: of something people want and then flood the country with
• 5:52
  Speaker 1: millions more people who want it?
• 5:54
  Speaker 2: Yes, that's right, dummies, the.
• 5:56
  Speaker 1: Cost of that something people want explodes, and that something
• 6:00
  Speaker 1: people want becomes well scarce, and now you want it
• 6:05
  Speaker 1: and you can't get it because you're a dummy. The
• 6:08
  Speaker 1: second factor, the author rightes and I love this is this.
• 6:10
  Speaker 1: Democrats hate single family homes. This is why they use
• 6:15
  Speaker 1: climate change to justify blocking the construction of new homes.
• 6:19
  Speaker 1: Democrats want us all packed in cities with massive government
• 6:22
  Speaker 1: housing complexes. By the way, they make no secret of this.
• 6:26
  Speaker 1: And finally, the final factor is this, This is all
• 6:29
  Speaker 1: by design, dummies. Democrats know lunatic government spending creates lunatic inflation,
• 6:37
  Speaker 1: and that lunatic inflation destroys purchasing power and creates high
• 6:42
  Speaker 1: interest rates that make it impossible for the middle class
• 6:44
  Speaker 1: to purchase a home. Democrats also know that when you
• 6:47
  Speaker 1: flood a country already dealing with a housing crisis caused
• 6:51
  Speaker 1: by enviral lies with millions of illegals, housing costs explode.
• 6:57
  Speaker 1: Democrats don't want you to down anything, especially house the
• 7:00
  Speaker 1: mantras you'll own nothing and be happy. This also means
• 7:04
  Speaker 1: you will never accrue wealth because the middle and working
• 7:07
  Speaker 1: class can only accrue wealth through home ownership.
• 7:10
  Speaker 2: And when I say wealth, I don't mean rich.
• 7:12
  Speaker 1: Believe me, as hard and smart as my wife and
• 7:15
  Speaker 1: I have worked, no one would consider us rich. But
• 7:19
  Speaker 1: we do have a nest egg for retirement that will
• 7:21
  Speaker 1: make us more comfortable than social Security. Now, the author says,
• 7:26
  Speaker 1: by design, this is right. The Democratic Party and their
• 7:30
  Speaker 1: pals are all looking at this as Hey, the weaker
• 7:33
  Speaker 1: you are, the more likely you are to be dependent
• 7:36
  Speaker 1: on them, and the more dependent that you are on them,
• 7:40
  Speaker 1: the more control the Democrats can have over your life.
• 7:44
  Speaker 1: Just think about that for a moment and look at
• 7:46
  Speaker 1: where we are. Let's talk about the poll numbers real quick.
• 7:51
  Speaker 1: That deal with Joe Biden. There was a new CNM
• 7:54
  Speaker 1: poll that has come out, and I'm going to let
• 7:56
  Speaker 1: you hear how they described it. This new poll has
• 7:59
  Speaker 1: Trump leading Joe Biden in two very important presidential states
• 8:03
  Speaker 1: when you're looking at electoral math, Michigan and Georgia. Why
• 8:09
  Speaker 1: because the majority of respondents are holding negative views of
• 8:13
  Speaker 1: the current president of the United States of America and
• 8:16
  Speaker 1: it specifically revolves around the economy. Take a listen to this,
• 8:21
  Speaker 1: and again this is actually on CNN.
• 8:24
  Speaker 3: Trump goes into this with ninety one charges against him,
• 8:28
  Speaker 3: and I wonder if the criminal cases, particularly against him,
• 8:30
  Speaker 3: are having any effect on this campaign, as the courtroom
• 8:33
  Speaker 3: calendar really collides with the campaign calendar.
• 8:37
  Speaker 1: By the way, I love how CNN there is basically saying, hey,
• 8:40
  Speaker 1: we want to remind you that Donald Trump's under under
• 8:43
  Speaker 1: indictment and he's on these criminal charges against him, and
• 8:46
  Speaker 1: he's the worst person in the world.
• 8:47
  Speaker 4: Right.
• 8:47
  Speaker 1: That's how they're going to prefix the conversation that they're
• 8:49
  Speaker 1: about to tell you, which is really bad polling for
• 8:53
  Speaker 1: the sitting president of United States America, Joe Biden, because
• 8:57
  Speaker 1: these communists at CNN, they got to do their job,
• 9:00
  Speaker 1: so they prefix it with what you just heard, and
• 9:02
  Speaker 1: then they tell you the real meeting potatoes, which is,
• 9:04
  Speaker 1: by the way, America doesn't care about these charges against
• 9:07
  Speaker 1: Donald Trump. They know their crap number one and number two,
• 9:11
  Speaker 1: they're really upset that they're now living paycheck to paycheck
• 9:13
  Speaker 1: again under a guy by the name of Joe Biden,
• 9:16
  Speaker 1: something they didn't have to do when Donald Trump was president.
• 9:19
  Speaker 4: Absolutely poppy.
• 9:20
  Speaker 5: And in one of these states, Georgia, we know the
• 9:22
  Speaker 5: Fulton County cases playing out on a daily basis. We
• 9:26
  Speaker 5: asked folks in Georgia just overall, do you approve or
• 9:29
  Speaker 5: disapprove of the decision to criminally charge Donald Trump in
• 9:32
  Speaker 5: Fulton County. A majority of Georgia voters fifty two percent
• 9:36
  Speaker 5: approve of the charges forty seven percent disapprove. Look at
• 9:40
  Speaker 5: that by party, though obviously ninety one percent of Democrats
• 9:43
  Speaker 5: approve the charges, a majority of Independents fifty two percent.
• 9:46
  Speaker 5: That's pretty key, and only eleven percent of Republicans.
• 9:50
  Speaker 2: We also in Georgia asked.
• 9:52
  Speaker 5: If true the charges against Donald Trump regarding efforts to
• 9:55
  Speaker 5: overturn the twenty twenty election, does that disqualifying.
• 9:58
  Speaker 2: For the presidency.
• 10:00
  Speaker 4: Seven percent of.
• 10:00
  Speaker 5: Georgia voters say it does disqualify, Another fourteen percent says
• 10:05
  Speaker 5: it casts doubt on his fitness for the job. Thirty
• 10:07
  Speaker 5: nine percent say they're not relevant to his fitness for office.
• 10:11
  Speaker 2: And again look at.
• 10:12
  Speaker 5: That by party, and you'll see here eighty two percent
• 10:16
  Speaker 5: of Democrats in Georgia say he'll be disqualified if the
• 10:18
  Speaker 5: charges are true, forty eight percent of independence Only nine
• 10:22
  Speaker 5: percent of Republicans in Georgia say, if indeed it's true
• 10:27
  Speaker 5: that he overturned the twenty twenty election, is that a
• 10:30
  Speaker 5: disqualifying factor? In Michigan, we see something similar. Forty six
• 10:34
  Speaker 5: percent of Michigan voters say, if true, that's disqualifying, Another
• 10:38
  Speaker 5: fourteen percent cast doubt on fitness for the job. Thirty
• 10:41
  Speaker 5: nine percent aren't relative aren't at all related to his
• 10:45
  Speaker 5: fitness for office. Eighty six percent of Democrats think he
• 10:49
  Speaker 5: should be disqualified in Michigan if proven true, forty four
• 10:52
  Speaker 5: percent of Independence and only ten percent of Republicans.
• 10:56
  Speaker 1: Now, you listen to what was just said there, and
• 10:58
  Speaker 1: what they're telling you is two things.
• 11:01
  Speaker 2: Number One, the majority.
• 11:03
  Speaker 1: Of people that are going to vote for Donald Trump
• 11:05
  Speaker 1: and the majority of people in this country that are
• 11:07
  Speaker 1: looking at this, they think the charges against Trump are crap,
• 11:10
  Speaker 1: so they're not worried about it, okay. Number Two, they're
• 11:13
  Speaker 1: more concerned about their life right now and what's happening
• 11:18
  Speaker 1: right now because of bidnomics and the disaster that it
• 11:21
  Speaker 1: actually is.
• 11:22
  Speaker 2: So don't forget that.
• 11:26
  Speaker 1: It is the economy stupid, Which brings me back to
• 11:29
  Speaker 1: one of the big lies that's actually being told right
• 11:31
  Speaker 1: now when it comes to the economy, and the White
• 11:33
  Speaker 1: House has been saying this over and over again. And
• 11:36
  Speaker 1: what I'm about to tell you, you need to really use
• 11:38
  Speaker 1: this to your advantage.
• 11:39
  Speaker 2: You need to tell people about this. Okay.
• 11:41
  Speaker 1: It's really, really, really important that people understand what I'm
• 11:45
  Speaker 1: about to explain to you and why it's so important
• 11:48
  Speaker 1: and why it matters and that is the White House
• 11:53
  Speaker 1: is trying to claim, now, look, we're creating jobs at
• 11:57
  Speaker 1: a level that you've never seen before. We're creating jobs
• 12:01
  Speaker 1: and still cream jobs in a tough economy, and you
• 12:05
  Speaker 1: guys should be really thankful that we're doing it, and
• 12:09
  Speaker 1: this economy is not doing bad and job growth is
• 12:11
  Speaker 1: great and everything's wonderful. Right, that's the narrative. The problem
• 12:15
  Speaker 1: is the devil in the details. The majority of the
• 12:18
  Speaker 1: job creation that's happening right now is being created through
• 12:23
  Speaker 1: government jobs, not the private sector. Well, the government is
• 12:28
  Speaker 1: spending money on these jobs and spending tax dollars that
• 12:33
  Speaker 1: they don't have. And what that means is they're they're
• 12:36
  Speaker 1: having to borrow the money. Okay, they're having to actually
• 12:40
  Speaker 1: borrow the cash. Now, think about that. They're borrowing cash, folks,
• 12:46
  Speaker 1: to hire people and put people in jobs that we
• 12:51
  Speaker 1: can't afford. So they can then say, but you don't understand,
• 12:55
  Speaker 1: look at what we're doing.
• 12:56
  Speaker 2: We're doing a great job.
• 12:57
  Speaker 1: We're hiring people and actually everything is great in our
• 13:01
  Speaker 1: economy right now, which is total insanity. It's total insanity
• 13:08
  Speaker 1: that we're hiring people to artificially bump up these numbers.
• 13:13
  Speaker 2: You don't believe me.
• 13:14
  Speaker 1: Listen to this report on Fox News mac Well brand new.
• 13:19
  Speaker 6: Polling out of the Wall Street Journal showing Donald Trump
• 13:22
  Speaker 6: leading Biden across voters' top issues and the economy no exception,
• 13:27
  Speaker 6: with Trump ahead by nearly twenty points.
• 13:31
  Speaker 4: But the White House claims the.
• 13:32
  Speaker 6: Latest jobs report shows Joe Biden is following through and
• 13:35
  Speaker 6: cleaning up the economy. Well, here to react to former
• 13:38
  Speaker 6: White House economic advisors Steven More, Steveen.
• 13:41
  Speaker 4: Great to see you, as always.
• 13:43
  Speaker 6: So this job's report, the government, the White House is
• 13:47
  Speaker 6: trying to spin it as a real good thing.
• 13:48
  Speaker 4: What do you make of it?
• 13:51
  Speaker 7: Well, hey, good morning, Pete.
• 13:52
  Speaker 2: Great to be with you.
• 13:54
  Speaker 7: First of all, let me look, the job situation is
• 13:56
  Speaker 7: still pretty good in this country, no doubt about it.
• 13:58
  Speaker 7: There are more jobs than people looking for work. So
• 14:00
  Speaker 7: that's the good news of the story. But then you look, Pete,
• 14:04
  Speaker 7: I did an examination of where the jobs are being created,
• 14:08
  Speaker 7: and this is the not so good news. The number
• 14:12
  Speaker 7: one producer of jobs this year. You know what sector
• 14:17
  Speaker 7: of the economy it's been government. Government has been the
• 14:20
  Speaker 7: biggest employer.
• 14:22
  Speaker 2: Pete.
• 14:22
  Speaker 7: We're running a two trillion dollar deficit. We want the
• 14:24
  Speaker 7: government to getting smaller, so we can start paying our bills.
• 14:27
  Speaker 7: By the way, the other two sectors where we see
• 14:30
  Speaker 7: big job growth are healthcare and education, which are both
• 14:34
  Speaker 7: kind of.
• 14:36
  Speaker 4: Government or tangentially government. Yeah, I answered those. Yeah exactly.
• 14:40
  Speaker 6: Is that because of the so called Inflation Reduction Act
• 14:43
  Speaker 6: and all these government acts have led to these jobs?
• 14:46
  Speaker 7: Of course, yes, absolutely. I mean, if you look at
• 14:49
  Speaker 7: what's happened and Shoe Biden came into office, We've spent
• 14:53
  Speaker 7: and borrowed six trillion dollars over what we normally spend.
• 14:57
  Speaker 7: So all the money is flowing through government. And my
• 15:00
  Speaker 7: point is, Pete, we want the private sector. Look what's
• 15:03
  Speaker 7: happened with manufacturing. Look look at what's happening with mining.
• 15:07
  Speaker 7: Looks what's happening with construction. You know, the kinds of
• 15:10
  Speaker 7: jobs we want to be creating those who have been
• 15:12
  Speaker 7: flat Pete. It's government is dictating more of our economy.
• 15:16
  Speaker 2: I'm a free market guy, Pete.
• 15:17
  Speaker 7: I want to see our industries growing, not Washington, DC.
• 15:21
  Speaker 7: And this is an example, by the way. You know,
• 15:24
  Speaker 7: when you ask people Washington House, the economy is, oh,
• 15:26
  Speaker 7: it's great. When you go to industry of America, they're
• 15:30
  Speaker 7: not feeling the love.
• 15:31
  Speaker 4: That's such a great point.
• 15:32
  Speaker 6: So if you add up the rebound from COVID, which
• 15:35
  Speaker 6: of course Biden wants to take credit for, and add
• 15:37
  Speaker 6: that to the government jobs, it shows you how devastating
• 15:41
  Speaker 6: the reality of actual private economic growth is in this country.
• 15:44
  Speaker 4: And that's why the numbers at the national level.
• 15:47
  Speaker 6: Are so divorced from the spin the White House has
• 15:49
  Speaker 6: given us.
• 15:49
  Speaker 4: Let me get one more topic with you.
• 15:51
  Speaker 1: By the way, you notice the ind there, Biden is
• 15:54
  Speaker 1: touting record number of jobs, despite the bulk of them
• 15:57
  Speaker 1: being government jobs.
• 16:00
  Speaker 2: No, he's just lying to you.
• 16:01
  Speaker 1: And you can only lie to the American people for
• 16:04
  Speaker 1: so long before they figured out because at the end
• 16:07
  Speaker 1: of the day, their bills are still due. Their bills
• 16:11
  Speaker 1: are still due, and their bills must still be paid,
• 16:15
  Speaker 1: and so you can tell them things are good, but
• 16:17
  Speaker 1: they know things are not good. Go to the grocery store,
• 16:21
  Speaker 1: go shopping for basic necessities, go out and try to
• 16:24
  Speaker 1: buy a house, go out and pay your basic bills
• 16:27
  Speaker 1: or insurance. Everything has sky rocketed, and the American people
• 16:32
  Speaker 1: are now waking up to it, and they're remembering. By
• 16:35
  Speaker 1: the way, maybe mean tweets from Donald Trump was totally
• 16:39
  Speaker 1: worth it. When you have the lowest unemployment rate in history,
• 16:41
  Speaker 1: for minorities, for African Americans, Asian Americans, for single moms.
• 16:45
  Speaker 1: Maybe having interest rates on houses in the two to
• 16:48
  Speaker 1: three percent was an incredible gift from a president.
• 16:52
  Speaker 2: I mean, I laughed because I saw that. Sure it
• 16:54
  Speaker 2: says I.
• 16:54
  Speaker 1: Miss waking up in the morning reading mean tweets and
• 16:56
  Speaker 1: having a two and a half percent interest rate on
• 16:58
  Speaker 1: my thirty year mortgage. There's some truth to that. Warren
• 17:03
  Speaker 1: Buffett is now ringing the alarm bells over the economy.
• 17:07
  Speaker 1: Selling twenty eight point seven billion dollars in stocks, is
• 17:14
  Speaker 1: now ringing a massive alarm bell to Wall Street, Warren Buffett.
• 17:19
  Speaker 1: And this is again I went, just so you know
• 17:21
  Speaker 1: the facts here hit. Warren Buffett's firm, Berkshire Hathaways sold
• 17:24
  Speaker 1: a net eight billion of stock between April and June
• 17:28
  Speaker 1: alone of this year as we saw inflation. That was
• 17:31
  Speaker 1: a move that suggested in the US economy is now
• 17:34
  Speaker 1: the problems that was in despite the White House saying
• 17:39
  Speaker 1: Bidenomics is working and slowing inflation. Well that wasn't all that,
• 17:45
  Speaker 1: Warren Buffett actually did We now know that according to
• 17:49
  Speaker 1: Berkshire Hathaway's second quarter earnings released early this month, the
• 17:52
  Speaker 1: company sold close to thirteen billion worth of shares and
• 17:56
  Speaker 1: bought less than five billion. Now, the fact that Buffett's
• 17:59
  Speaker 1: company also shows a vast array of businesses in many
• 18:01
  Speaker 1: different industries tells you it is the economy right, because
• 18:07
  Speaker 1: when they move to sell something of this magnitude, this
• 18:11
  Speaker 1: is a sign for the entire US economy because they
• 18:14
  Speaker 1: have a very diversified portfolio. And what they're saying now
• 18:19
  Speaker 1: is they're getting rid of a bunch of stuff. As
• 18:22
  Speaker 1: a result of its stock sales in the second quarter,
• 18:25
  Speaker 1: Berkshire Hathaway fattened its cash pile by thirteen percent. They
• 18:31
  Speaker 1: now have one hundred and forty seven billion cash on
• 18:36
  Speaker 1: hand between April and June. As they're saying, give me
• 18:38
  Speaker 1: my money back, I don't want to be in this market.
• 18:41
  Speaker 1: The money supply is fuel for the economy, and it
• 18:44
  Speaker 1: has been well contracting all year long. Now a rate
• 18:48
  Speaker 1: of contraction is three point six percent, something that we
• 18:51
  Speaker 1: haven't seen in this country since.
• 18:53
  Speaker 2: Nineteen thirty eight.
• 18:55
  Speaker 1: And following significant changes in the money supply, the economy
• 19:01
  Speaker 1: changes and the economic changes with a lag of six
• 19:04
  Speaker 1: eighteen months, they're now saying that the economy is basically
• 19:08
  Speaker 1: running on fumes and a twenty twenty four recession is inevitable.
• 19:13
  Speaker 2: Who said it?
• 19:14
  Speaker 1: Professor Hank at John Hopkins University said that to Newswink
• 19:20
  Speaker 1: and talking about our twenty twenty four economy, it is
• 19:23
  Speaker 1: inevitable it will be a recession because.
• 19:26
  Speaker 2: There isn't money out there to grab now.
• 19:29
  Speaker 1: As Buffett is considered one of the greatest investors of
• 19:31
  Speaker 1: all time and something of an oracle when it comes
• 19:34
  Speaker 1: to financial markets, his moves and his decisions are closely
• 19:38
  Speaker 1: observed and analyzed by industry leaders. You can understand why.
• 19:43
  Speaker 1: This is why they're doing it right now. This is
• 19:46
  Speaker 1: why people are going, oh my gosh, because it's all
• 19:49
  Speaker 1: adding up now that Bidenomics.
• 19:50
  Speaker 2: Is a complete and utter failure.
• 19:53
  Speaker 1: Which brings me to another point that I want to
• 19:55
  Speaker 1: make about how nervous this White House is about Joe Biden.
• 19:59
  Speaker 1: But first I want to tell you about a company
• 20:01
  Speaker 1: that I really want you to check out. For ten years,
• 20:04
  Speaker 1: Patriot Mobile has been America's only Christian conservative wireless provider.
• 20:08
  Speaker 2: And when I say the only one, I mean it.
• 20:10
  Speaker 2: They're the only one.
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  Speaker 1: They make a huge difference every time that you pay
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  Speaker 1: your bill because they actually get back to conservative causes
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  Speaker 1: and organizations to help you stand up for what you
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  Speaker 1: believe in. While you're paying a bill you're going to
• 20:24
  Speaker 1: have anyways. This is the part that I love about
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  Speaker 1: Patriot Mobile. They're making a difference. Every time you pay
• 20:31
  Speaker 1: your bill, every time you make a phone call, every
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  Speaker 1: time that you send a text message, Patriot Mobile actually
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  Speaker 1: gives money back to protect First and Second Amendment rights,
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  Speaker 1: to protect the lives of unborn children. And that's what
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  Speaker 1: If you switch right now to Patriot Mobile, they are
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  Speaker 1: going to give a donation to help protect life and
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  Speaker 1: everything they can to protect the lives of unborn children.
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  Speaker 1: Then every month when you pay your bill, they're going
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  Speaker 1: to continue to support the causes that I just mentioned.
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  Speaker 1: And this is exactly why you need to make the switch.
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  Speaker 1: If you're tired of woke companies, switch your cell phone
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  Speaker 1: to Patriot Mobile. Whether you are a business, a small business,
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  Speaker 1: seven to two Patriot, nine seven to two Patriot, or
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  Speaker 1: go online to Patriot Mobile dot com slash ben. That's
• 21:47
  Speaker 1: Patriot Mobile dot com slash Ben or nine seven to
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  Speaker 1: two Patriot. We have now found out that Joe Biden
• 21:54
  Speaker 1: has called an ass for help from the Clintons. He
• 21:58
  Speaker 1: has enlisted a election denier in the name of Hillary
• 22:02
  Speaker 1: Clinton for the twenty twenty four campaign. President Joe Biden
• 22:07
  Speaker 1: over the weekend enlisted election denier Hillary Clinton in his
• 22:10
  Speaker 1: re election campaign to build infrastructure, raise money, and mobilize voters.
• 22:14
  Speaker 1: Some are wondering if she's actually running for president again
• 22:18
  Speaker 1: or maybe even for vice president getting rid of Kamala Harris.
• 22:22
  Speaker 1: Biden's eagerness to enlist Clinton signals his desperation to combat
• 22:26
  Speaker 1: his historically low approval ratings. Hillary Clinton, who is not
• 22:30
  Speaker 1: once but twice a failed presidential candidate, is a longtime
• 22:34
  Speaker 1: election denier. Remember Democrats say that that's Donald Trump. No, no, no,
• 22:38
  Speaker 1: Let me remind you of Hillary Clinton. In twenty sixteen,
• 22:41
  Speaker 1: Hillary Clinton claimed the Supreme Court took away at presidency
• 22:44
  Speaker 1: in Bush v.
• 22:45
  Speaker 2: Gore.
• 22:46
  Speaker 1: In twenty seventeen, Hillary Clinton a leed she would not
• 22:50
  Speaker 1: quote rule out questioning the legitimacy of the twenty sixteen election.
• 22:54
  Speaker 1: Twenty twenty, she claimed the twenty sixteen presidential election was
• 22:58
  Speaker 1: not conducted legiti saying quote, we still don't really know
• 23:02
  Speaker 1: what happened. And in twenty twenty again, she claimed Stacy
• 23:07
  Speaker 1: Abrams would have won George's gorivatorial race if she had
• 23:11
  Speaker 1: a fair election, and that Stacy Abrams should be governor,
• 23:14
  Speaker 1: but was deprived of the votes she otherwise would have gotten. Yeah,
• 23:19
  Speaker 1: that's just another example of the lie put out by
• 23:21
  Speaker 1: the left. Now, people close Hillary Clinton anticipate she'll be
• 23:25
  Speaker 1: on a tireless campaign regiment for the Biden campaign, rallying
• 23:30
  Speaker 1: Democratic voters by laying out the stakes, explaining why Trump
• 23:33
  Speaker 1: victory could subvert America's democratic norms. NBC News is now
• 23:38
  Speaker 1: reporting she is also well positioned to caution voters that
• 23:44
  Speaker 1: if they support a third party candidate, they may cut
• 23:47
  Speaker 1: into Biden's margin and flip the election to Trump. Democrats
• 23:51
  Speaker 1: trate to to say that the Clinton's role is only
• 23:54
  Speaker 1: expected to grow in the new year. But for now
• 23:56
  Speaker 1: she is filling a space that is at a later
• 23:59
  Speaker 1: point in the camp pain season, former President Barack Obama
• 24:02
  Speaker 1: will also, they say, now join in. Five point thirty
• 24:05
  Speaker 1: eight polling shows Biden as the least popular president in
• 24:09
  Speaker 1: modern US history, with a negative eighteen percent approval rating.
• 24:14
  Speaker 1: In turn, many Democrats ask Biden not to run for
• 24:16
  Speaker 1: your election, but.
• 24:17
  Speaker 2: He's doing it anyway. Quote.
• 24:19
  Speaker 1: If Trump wasn't running, I'm not sure I'd be running.
• 24:23
  Speaker 1: That's the new quote from Joe Biden that he told
• 24:25
  Speaker 1: donors last week, adding that Democrats cannot let Trump win.
• 24:29
  Speaker 1: It also sounds like he's running for election to then
• 24:32
  Speaker 1: give up the seat to somebody else. Quote would you
• 24:35
  Speaker 1: be running if Trump wasn't running? A reporter asked Biden
• 24:39
  Speaker 1: after the event. Biden replied, I expect so, But he
• 24:45
  Speaker 1: is running, and I just I have to run.
• 24:49
  Speaker 2: Now.
• 24:49
  Speaker 1: You put all this together right now, and it makes
• 24:52
  Speaker 1: it very clear there's two things happening. One, the Democrats
• 24:57
  Speaker 1: are not convinced that Joe Biden is actually their candidate. Two,
• 25:00
  Speaker 1: they're placing people around him so that if he does
• 25:03
  Speaker 1: have to drop out of the race or change things
• 25:07
  Speaker 1: up at the last moment, the Democratic Convention that Democratic
• 25:13
  Speaker 1: voters would be okay with it because they would already
• 25:16
  Speaker 1: be seeing these people they're talking about replacing him with.
• 25:19
  Speaker 2: Gavin Newsom obviously is on that list. Hillary Clinton, I
• 25:22
  Speaker 2: think now is on that list.
• 25:23
  Speaker 1: In fact, Michelle Obama is probably on the list as well,
• 25:26
  Speaker 1: which concerns me about all of these things. Now, one
• 25:30
  Speaker 1: last thing, I just want to get on your radar screen.
• 25:32
  Speaker 1: And I don't know what's going to happen from this,
• 25:34
  Speaker 1: but I do want you to know. We talked about
• 25:35
  Speaker 1: the Harvard and MIT and University of Penn presidents and
• 25:40
  Speaker 1: their anti semitism, and yesterday's show, if you missed it,
• 25:43
  Speaker 1: go back and listen to the podcast and it'll get
• 25:46
  Speaker 1: you up to date on the corruption and the anti
• 25:48
  Speaker 1: semitism on college campuses. But Harvard's president now president gay
• 25:55
  Speaker 1: her PhD dissertation where now she's now being accused of
• 26:00
  Speaker 1: basically violating the school's plagiarism standards. Conservative activists and CRT
• 26:08
  Speaker 1: expert Christopher Rufo has combined forces with journalist Christopher Brennette
• 26:14
  Speaker 1: to raise troubling questions of potential plagiarism around the battled
• 26:19
  Speaker 1: Harvard president Claudine Gay's PhD dissertation. As deane and then president,
• 26:24
  Speaker 1: Gay has been accused of bullying colleagues, suppressing free speech,
• 26:28
  Speaker 1: overseeing a racist administration program, and most recently, failing to
• 26:32
  Speaker 1: stand up to unabashed anti Semitism on campus in the
• 26:37
  Speaker 1: wake of the October seventh Demaster attack against Israel. Now
• 26:41
  Speaker 1: yet another concern plagiarism. New College of Florida board member
• 26:46
  Speaker 1: Christopher Rufo, who has obtained documents showcasing sections of Gay's
• 26:51
  Speaker 1: dissertation which Rufo and journalist Christopher Burnett say would violate
• 26:57
  Speaker 1: Harvard's own stated policies on academic integrity. They say that
• 27:03
  Speaker 1: her dissertation, Taking Charge Black Electoral Success and the Redefinition
• 27:09
  Speaker 1: of American Policies, which deals with white Black political representation
• 27:14
  Speaker 1: and racial attitudes, was published in nineteen ninety seven and
• 27:19
  Speaker 1: was part of Gay's doctorate in political science from Harvard,
• 27:24
  Speaker 1: but as elevated under the university's plagiarism policy, the paper
• 27:29
  Speaker 1: contains at least three problematic patterns of usage and citation.
• 27:34
  Speaker 1: The New College of Florida board members say Gay lifts
• 27:37
  Speaker 1: an entire paragraph nearly verbatim, from Lawrence Bobo and Franklin
• 27:43
  Speaker 1: Gillham's paper Race Socio Political Participation and Black Empowerment, while
• 27:50
  Speaker 1: passing it off as her own paraphrase and language. Oops,
• 27:55
  Speaker 1: there's other things that we apparently are in violation of
• 27:59
  Speaker 1: Harvard's Pot's see throughout the document again, using work from
• 28:03
  Speaker 1: Bobo and Gillham, as well as passages from Richard Shingles,
• 28:06
  Speaker 1: Susan Howe, and Deborah Fagan, which she reproduces nearly verbatim
• 28:11
  Speaker 1: without quotation marks, acting like it is her own work.
• 28:16
  Speaker 1: Will Harvard hold her accountable for this? We'll have to
• 28:19
  Speaker 1: wait and see. Don't forget. Share this podcast with your
• 28:23
  Speaker 1: family and friends, Share it on social media. Please hit
• 28:26
  Speaker 1: that follow button if you're listening on Apple iTunes, or
• 28:28
  Speaker 1: subscribe or auto download, depending on what you're listening on
• 28:31
  Speaker 1: what platform. But make sure you follow us and we'll
• 28:33
  Speaker 1: see you back here tomorrow morning,