We’re In A Recession, So Let’s Trans The Kids! | Ep. 1516
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The Federal Reserve boosts interest rates by 75 basis points for the first time since 1994, even as retail sales unexpectedly declined.
Joe Biden hosts an LGBTQ plus minus divided by sign ampersand tilde celebration at the White House while announcing government action to trans the kids.
And Anthony Fauci has COVID.
I'm Ben Shapiro.
This is the Ben Shapiro Show.
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Well, Joe Biden, he is facing down the prospect of a very serious recession on his watch.
The Federal Reserve actually jacked up the benchmark interest rates by 0.75 percentage points.
That is the biggest increase since 1994.
They're doing this because they see that the Threat of inflation is really serious, and that over the course of the next decade you could see stagflation if they do not get the inflation under control right now, as in right now.
So they are attempting to shock the market back into something resembling normality.
According to CNBC, the Federal Reserve on Wednesday launched its biggest broadside yet against inflation, raising benchmark interest rates three quarters of a percentage point And a move that equates to the most aggressive hike since 1994.
And in weeks of speculation, the rate-setting Federal Open Market Committee took the level of its benchmark funds rate to a range of 1.5 to 1.75%, that is the highest since just before the COVID pandemic began in March 2020.
It's unclear whether that is going to really reset the deck here, especially because, again, that is very historically low.
The fact is that when Paul Volcker was jacking up the interest rates in the early 1980s, we were nearing 20% on the interest rates in order to ratchet down the inflation.
It's unclear to me whether an overall interest rate of like 1.5, 1.75% is really going to jack down the inflation to the extent necessary, given how hot the economy is running right now, how hot inflation is running right now, which is why you've seen Jerome Powell and others suggesting this is just the first of many.
The likelihood is that we are going to have to be around a 5% interest rate before we start to see inflation really collapse and us go back to sort of a normal rate of monetary inflation.
Jerome Powell announced the Fed boost yesterday.
Here he was.
From the standpoint of our congressional mandate to promote maximum employment and price stability, the current picture is plain to see.
The labor market is extremely tight and inflation is much too high.
Against this backdrop, today the Federal Open Market Committee raised its policy interest rate by three quarters of a percentage point and anticipates that ongoing increases in that rate will be appropriate.
Okay, Ann Powell continued by saying that their goal is to return inflation to a 2% objective.
Now, I've always thought that this objective is very silly, because there's a baseline notion, it was promoted by Milton Friedman in the Chicago School of Economics, that when you create an inflation rate of 2%, it sort of greases the wheels of the economy.
The big problem, of course, is that if you do a 2% inflation rate for, say, 10 years, you have now depreciated the value of money by 20%.
2% times 10.
So the very idea that the government should be in the business of devaluing your asset base to force you to spend is Keynesian, and I don't like that.
I think that the government should really be there to basically backstop the economy in case things go wildly wrong, in case there's a major shock, exogenous shock to the system, there's a run on the banks, for example.
That's what the Federal Deposit Insurance Corporation was originally supposed to do, to make sure that the bank didn't just seize all of your assets, and they would backstop that Now, we gave the Federal Reserve basically the power to control all of the economy, and there's something deeply wrong with that.
The economy was never supposed to be controlled by a bunch of guys in suits behind closed doors.
In fact, that was the accusation that socialists used to make about capitalism, is that it was a bunch of fat cats in a back room smoking cigars and deciding the future of the economy.
That's not capitalism.
That's more akin to socialism, a centralized government economy making decisions top-down.
Well, the Federal Reserve, which has been tasked with keeping unemployment low and also keeping inflation low, Normally, those are the jobs of policymakers, not the jobs of a bunch of central bankers.
But this is what we have become now, as a case made by Mohamed El-Erian.
In one of his recent books, the head of Allianz, he has said before that one of the big problems with the global economy right now is that, effectively speaking, we've outsourced all policymaking to a bunch of central banks around the world, and all of them have the same sort of congenital issues you see when it came to outsourcing all of our COVID policy to the bureaucrats.
When you tell the bureaucrats that they have endless purview to do exactly what they want, What you actually end up with is not a diversity of options.
You end up with an echo chamber in which everybody understands that if they are the outlier, they're the ones who's likely to get clocked.
So what you're seeing around the world right now is actually an increase in interest rates in an attempt to tamp down inflation.
So that means we are very likely to tip into a recession.
Here is Jerome Powell, however, saying that we want to return inflation to that 2% objective.
The Fed's monetary policy actions are guided by our mandate to promote maximum employment and price and stable prices for the American people.
My colleagues and I are acutely aware that high inflation imposes significant hardship, especially on those least able to meet the higher costs of essentials, like food, housing, and transportation.
We are highly attentive to the risks high inflation poses to both sides of our mandate, and we're strongly committed to returning inflation to our 2% objective.
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So as I say, the current interest rates are the ones that are not going to last for very long.
According to CNBC, the Fed's benchmark rate is supposed to end the year at 3.4% according to the midpoint of the target range.
of individual members expectations. That reflects an upward revision of 1.5 percentage points from the March estimate. The committee then sees the rate rising to 3.8% in 2023. This, of course, is taking a serious toll on the real estate market, where all of the mortgage rates are rising in tandem with the interest rates because mortgages are becoming more expensive.
Again, when the credit system begins to dry up, when it turns out that money is not as loose as it once was, what this means is that stocks are going to evaluate lower. I would expect that when it comes to the stock market, what you're going to see is another step down for the stock market, because one of the other factors here is that you're actually starting to see the retail sales slipping, according to the Associated Press.
Americans trimmed their spending unexpectedly in May.
I don't know what unexpected means.
It's not super unexpected, given the fact that eventually people are going to run out of the pandemic stimulus money that was poured into their pockets by both the Trump and the Biden administrations, and particularly by the Federal Reserve.
And that when that happened, they were going to look at the prices and say, I can't afford a lot of the stuff that's happening.
I mean, this is what inflation does.
When you have a real wage reduction thanks to inflation, what you end up with is people eventually figuring out that they actually can't spend that money.
They need that money.
Well, that's what happened last month.
According to the Associated Press, Americans trimmed their spending unexpectedly in May compared with the month before, underscoring how surging inflation on daily necessities like gas is causing them to be more cautious about buying discretionary items.
U.S.
retail sales slipped 0.3 percent last month, down from a revised 0.7 percent increase in April, the Commerce Department said on Wednesday.
A sharp decline in auto sales, largely because of higher prices and shortages of new car inventories depressed that retail sales figure, excluding autos.
Retail sales rose 0.5% last month, but excluding sales from gas stations, retail sales slipped 0.7%, showing how higher prices at the pump are accounting for more of shoppers' overall spendings.
That's actually a pretty serious drop.
In retail sales, 0.7% is actually fairly serious.
And the only thing that is driving retail sales into anything remotely approaching positive territory is the fact that gas is so expensive, which again is a very, very bad thing for consumers.
Sales online fell 1% as shoppers went back to physical stores.
Sales at food stores rose 1.2%, but that's not because people are buying more food.
It's because the prices are higher.
Business at restaurants was up 0.7% as well.
Again, all of that is just reflective of the inflation.
But in terms of real consumption, Real consumption is actually starting to go down.
And what that means is that what you're likely to see is, as I say, another slip in the stock market.
Because right now, the P-E ratios, the price-to-earnings ratios of a lot of stocks are way out of whack.
That happens when you pour a lot of money into the economy.
Because people take that money and they look in the market and they say, Where's the stock?
Where can I put this money that it's going to earn money for me?
And so they look at companies that may not have amazing earnings, but they project out five years that they're going to have earnings.
Let me just tell you something about stock projections and earnings projections from companies.
Companies don't know what they're going to be earning in five years.
Companies don't know what they're going to be earning next month.
In the notion that companies have some sort of grand plan and that three to five years from now, their projected earnings are going to look anything remotely like what they projected.
Maybe in some cases that's true.
In a lot of cases, it simply is not.
If I go back and I look at the earnings plan that we put on the table for our original investors here at Daily Wire, I can tell you it was wildly wrong.
And thank God it was actually extraordinarily low for what the company actually has done.
I mean, to take a quick example, when we put out our original business plan, our original business plan suggested that this podcast was going to be earning a tiny fraction of what it actually earns on an annual basis.
And so when companies put out their earnings plan and then people jack up the price of the stock, right, the price of the stock compared to the earnings plan, as opposed to the actual earnings today, what you end up with is a P-E ratio that is wildly out of whack.
Well, what happens when the economy starts to sink and those earnings, the actual earnings, go down?
Okay, so right now the prices are coming down because people have less money to speculate with.
Okay, what happens?
So that means the P and E ratios are starting to come into alignment.
Right now the earnings are here and the price is here.
And the price is starting to come down back toward the earnings.
What happens next month when the earnings go like this?
Boop!
When the earnings bump down?
Well now, the P-E ratio is back out of whack.
So what's going to happen with the price?
That's correct.
It's going to drop.
People are going to sell off that stock because they don't see the earnings potential on the stock that they are actually buying.
And so what you're going to see, I would imagine, is another bump down in the stock market over the course of the next few months, all of which is very bad for the Joe Biden administration.
Officials significantly cut their outlook for 2022 economic growth.
They're now anticipating 1.7 percent gain in GDP.
That is a massive cut.
That is down from 2.8 percent from March.
The inflation projection gauged by personal consumption expenditures also rose to 5.2% this year from 4.3% through core inflation.
That excludes food and energy costs.
Core inflation is 4.3%, which is still super duper high.
All of this is really, really bad.
Now, the committee is trying to claim that they are going to be able to avoid a recession by bumping the interest rate by 75 basis points.
I find that very difficult to believe.
They put out a statement saying, overall economic activity appears to have picked up after edging down in the first quarter, which is weird because now we have retail sales dropping.
Job gains have been robust in recent months.
The unemployment rate has remained low.
Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures.
Actually, it's also reflecting tremendous business uncertainty about what Joe Biden is going to do in terms of regulation.
One of the reasons that the gas price is as high as we'll discuss in a moment is because the Biden administration continues to restrict the production of oil and gas.
And even if they say we want to jack it up temporarily, what they really mean is that one year from now we want to crack down again.
Well, the problem is that investment in oil and natural gas resources has a long tail.
If you invest today, that investment does not actually start to bear fruit for several years.
Well, if you know that in a year, the Biden administration is going to crack down again when the oil prices drop, why would you invest money in the oil and gas industry?
And you need that money in order to grease the wheels for the actual oil and gas drilling today.
In other words, future projections of what an industry is going to do affect price point today.
And the Biden administration keeps neglecting this because they don't understand basic economics or because they don't care about basic economics.
The estimates as expressed through the committee summary of economic projections see inflation moving sharply lower in 2023, down to 2.6% headline and 2.7% core.
Those expectations are little changed from March.
But again, that seems pretty optimistic given the level of increases in the interest rates that they are currently announcing.
The cost of everything is going up right now from gas to groceries to vacations.
Even credit card fees are now going up.
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Larry Summers, who is right about inflation and I think is going to be right about recession, He says stagflation is going to be the next step here.
Here he is on CNN, the former Treasury Secretary under Bill Clinton.
I'd be very surprised if we didn't still have inflation at a meaningful rate a year from now.
It may well come down.
I think it's probably likely to come down from the eight plus percent range that it's been at, but we're still going to have inflation.
For quite some time to come, and we're probably going to have a slowing economy as well.
So there's going to be an element of what people call stagflation.
All of this is wildly predictable, given the policies pursued by the Biden administration.
it's undermining Americans faith that anybody is actually able to handle the economy, which, by the way, might be a good thing in the same way that the undermining of the experts with regard to COVID may be a good thing because it actually allows you to take a look at the evidence and assess whether you ought to delegate your freedoms out to a bunch of bureaucrats who engage in effectively single factor analysis, the worst form of all political analysis, where you look at one thing and the one thing is the thing that matters and you ignore all of the other extraneous issues.
That creates really bad policy. If you just look at one thing in life and the one thing in life is is the prison through which you view everything you're likely to miss pretty much all the This is what happens when you have bureaucrats who are dedicated to acronym agencies that only focus on this tree.
They never look at the forest.
They just look at this tree.
Well, more Americans are focused on the forest because there are many aspects of their lives.
But if you are the person who's in charge of the Federal Reserve, all you care about is the things you've been tasked with, right?
The interest rate and the unemployment rate.
That's it.
And you're only going to take into account those few factors.
That's not enough.
Which is why, again, as I've said before, the Hayekian point of view, the F.A.
Hayek point of view, which is that the collectivized knowledge of the world is much, much larger than any specific knowledge, even by an expert in a particular industry.
It rings true, and it's why markets are supposed to be left to their own devices if you actually wish to see supply and demand meet their actual level in the real world.
Americans' faith in these institutions has been undermined by their absolute incompetence, according to the Washington Post.
The Federal Reserve's missteps in waiting too long to tackle the greatest run-up in prices in four decades has shaken trust across markets and the American public that it is up to the task of curbing inflation.
On the eve of a high-stakes Fed policy announcement, investors, economists, policymakers were on edge over how sharply the Fed would raise interest rates to deal with inflation, which hit a new peak in May.
And this is all very disturbing to me that we're all supposed to sit around and wonder whether we have enough money for our groceries next week based on what Jerome Powell and his buddies have to say.
That's not the way any functional economy should work.
It's that a couple of guys in a room somewhere decide whether you get to pay for your groceries next week.
Even more concerning are new signs that families have lost faith in the Fed's policies.
Consumer sentiment in June sank to a low not seen since the 1980 recession, according to a University of Michigan survey.
A poll by the Washington Post and George Mason University's Schar School of Policy and Government found that most Americans expect inflation to worsen and are adjusting their spending habits, a mindset that can make the surge in prices even worse.
Fed policymakers were already under enormous pressure to slash inflation without inviting disaster for the recovery or spurring a new round of job losses.
Now the Fed is in need of an even more fraught position, one that goes beyond monetary policy and instead targets the Fed's most essential tool of all, its credibility.
Again, if you don't trust the Fed to get things under control, then when the Fed announces interest rate increases or falls, that is going to start to become disconnected from how people treat the market.
The Biden administration's lack of sure-footedness in this area, because again, they have an agenda and they're going to ram that agenda through regardless of whether it actually hurts or harms or helps Americans.
It doesn't matter to them.
That commitment to an ideological agenda, Uber Alice above all else, It's just, it's obvious on its face.
So Brian Deese, White House Economic Advisor, yesterday, for example, he was saying we don't need to lower corporate tax rates to get people to invest in the United States.
So then what are you going to do to get people to invest in the United States exactly?
More regulations?
Subsidies?
What are we talking about here?
You don't need to lower the corporate tax rate any lower.
It's already at historically low rates.
In fact, what we need to do is reform the corporate tax system to reduce incentives for companies to just take profits and productions and move it overseas.
What we need to do is we need to have a more stable corporate tax system and incentives to invest here in the United States.
Okay, so in other words, he's going to pay a bunch of green companies taxpayer cash to come here, but we're not going to lower the corporate tax rates.
Instead, we should increase them.
Again, all of this is disconnected from reality.
And he doesn't stop there.
My favorite part of this particular interview is when Brian Deese is asked specifically about predictions regarding the economy and inflation.
And he's like, we're not going to make any predictions.
Well, you should be able to make, like, some.
I mean, isn't that what policy is about?
Is trying to foresee the consequences of the policy?
Here's Brian Deese, like, foreswearing all predictions.
We know there's a lot of global uncertainty out there.
We know that the price of oil and the price of gas at the pump are being affected by Putin's brutal war in Ukraine.
But what we also know is if we take the kinds of steps that we're talking about, we will get to that process quickly, more quickly.
We will move prices down.
What is quickly?
Can you define quickly?
We'll move prices down more quickly.
Give me just a ballpark.
Like, you know, we're looking at a six-month situation with the kind of numbers we're in right now, or we're looking at two years as Larry Kudlow just said that he estimates?
Look, there's a lot of people who are out there who are in the predicting business.
We are in the building business.
We are in the business of trying to put policies in place that will actually accelerate that outcome.
Well, I mean, if you're actually in the building business, like I've worked with contractors before, they're always wrong by the way, but at least you need an estimate as to when they're going to finish their work.
If they say to you, you know what, we're going to start this project, we have no idea when we're going to finish.
No clue.
And you're like, well, can you give me like a range?
Are we talking about like three months or are we talking about 10 years?
Like, well, you know.
No prediction.
We're not in the prediction business.
We need your money.
I promise we'll do the work.
Maybe.
But we'll get back to you on that.
Are you going to hire that person?
All right.
Well, I'm particularly not going to hire this administration when they have no clue how to bring the price of gas down.
And again, this is very easy.
You allow refineries to come back online.
You relieve environmental regulations.
You stop yelling at the oil companies.
That is how you do this.
You stop alienating oil producers like the Saudis, which is what Joe Biden has done for a year and a half to no effect, by the way, except to strengthen the Iranians and jack up your oil prices.
This administration, when it comes to the oil and gas issue, this is a perfect example of how ideology dominates pragmatism from this administration.
It really is amazing.
So Corinne Jean-Pierre, the absolutely incompetent press secretary for the president of the United States, she is now engaging in Joe Biden's favorite game.
So Joe Biden has this game, he's been playing it for years, where if you don't do what he wants you to do, it's because you're unpatriotic.
I mean, he used to do this when he was vice president.
He'd say, big corporations, they need to pay more tax.
Patriotism, man!
Love the flag, man!
Higher taxes are more patriotic.
This has been a hallmark of the Joe Biden ridiculous schtick for decades at this point.
So now Corinne Jean-Pierre is going to channel Joe Biden.
She says it's unpatriotic for oil and gas companies not to produce more gas.
What do you think that they're doing?
You think they're there being like, you know what?
We're sitting in the back room and we're going to not pump gas because we're greedy.
Or is it that you have a restricted supply?
Like now would be a great time to pump more gas.
You know why?
Because the prices are super high.
Prices are not going to be this high again, you imagine, in a couple of years.
So now's an excellent time to pick up all the profits on the table.
This is what supply and demand normally do.
But she's suggesting, of course, that it's just about lack of patriotism.
First of all, I'm not going to hear about lack of patriotism from an administration that is more comfortable putting a gay pride flag on an American embassy overseas than it is on putting an American flag on an American embassy overseas.
We'll get to that in a moment, but here's Corinne Jean-Pierre.
We see it as a patriotic duty.
As we've talked about, there's war happening right now in Ukraine that was caused by Russia, which is why we're seeing these hikes in gas prices.
Especially since Russia has started amassing troops on the border, we've seen a $2 increase of gas prices.
So we know where to put the blame on the war.
But oil companies, they have oil refineries, they have responsibility too.
What they have been doing is taking advantage of the war.
It's unbelievable.
It's unbelievable.
So they're on Putin's side, the oil companies.
Uh-huh.
Uh-huh.
Nailed it.
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Again, they have no plan here, as Karine Jean-Pierre then makes clear.
She's going to yell at people about being unpatriotic and blame people and blame Putin, but they have no plan.
So, Karine Jean-Pierre was specifically asked, are you going to help subsidize new refineries?
You keep talking about lack of refinery capacity.
You keep telling all of the oil companies they need to jack up the amount of oil that they are refining into gas.
This is what you say.
So, how about it?
You're going to relieve regulations on the refineries?
Because we haven't built a new refinery in this country for a couple of decades, minimum.
The country's refineries are aging.
A major refinery really hasn't been built in this country since the late 1970s.
If one were to be proposed, would the president support the construction of a new refinery or oppose it?
I've not seen any of that reporting, and that is not something that I can confirm from the podium at this time.
Yeah, of course you can, of course you can.
By the way, then she was asked, okay, what happens if a hurricane hits the Gulf, considering that a bunch of the refineries are in the Gulf of Mexico area?
And she's like, well, we don't really have a plan for that.
I mean, it's not like, like who could predict such a thing?
Um, everyone?
I mean, the question is being asked right now, isn't it?
I don't have anything on hurricane at this moment, like what we're going to do to take steps on hurricane and oil refinery.
Are you aware of any steps the administration is taking now to do it against that possibility?
I don't have anything on hurricane at this moment, like what we're going to do to take steps on hurricane oil refinery.
I'm happy to check in with the team and get back to you to see if there is a plan in place.
But I don't have anything for you at this time.
So there's no plan on, like, anything that would actually protect our current oil production or expand our oil production.
The reason for that, by the way, is because they don't want to expand our oil production.
This is all ideological.
Jennifer Granholm, the energy secretary, was asked about all this, and she's got nothing.
Ultimately, America will be most secure when we can rely upon our own clean domestic production of energy.
But that's the problem for these companies.
These companies are saying, you know, you're asking me to do more now, invest more now, when in fact, five or ten years from now, we don't think that demand will be there, and the administration doesn't even necessarily want it to be there.
John, we really want to see us move to clean energy, but we also need to see this increase right now.
And we are asking the oil and gas companies as well to diversify.
I mean, this is crazy.
So she's saying, we want to crack down on the production of oil and natural gas, but please produce more of it right now.
And then, of course, her final solution, as she tells MSNBC, of course, of course, is more green energy.
The price of gas right now is five bucks a gallon.
That's the national average right now.
And you're talking to me about strapping a windmill to the top of your car or something?
Go for it, lady.
Ultimately, the solution to make us energy secure, to make the Baltic States energy secure, to make the entire world energy secure, is to move to clean energy.
No country has ever been held hostage to access to the sun or to access to the wind.
Ultimately, the price volatility continues to, at least on clean energy, there's no volatility.
It continues to drop.
We're not under the thumb of petro-dictators.
And ultimately, that is the solution.
They can't hold us hostage if we're getting our energy from the sun or from the wind.
I have some news for Jennifer Granholm.
There are many nations on earth that are still dependent on the sun and the wind for energy.
We call those third world undeveloped nations.
It's bad to live there.
Carbon based fossil fuels are by far more efficient than the current green forms of energy that she is talking about.
The supposed clean forms of energy that she is talking about.
Way more efficient.
It's just, it's amazing.
It's amazing.
But this administration is fully committed to its own ideology and not to actually helping most Americans, which is why the Biden administration's response to inflation that is approaching double digits and an incipient recession.
In a war in Ukraine that now seems to be turning the wrong way.
Their response is, let's trans the kids.
I'm not kidding.
That's what they announced yesterday.
This is going to be their big cultural response, is we can't win on the economy.
We tried gun control.
It didn't go anywhere.
We've tried a bunch of stuff.
So where we're going to put all of them, we're going to take all of our chips in this poker game, we're going to take all of them, slide them in the middle on trans the kids.
Which is one hell of a move by this administration.
I mean, truly amazing.
When you've got the 20-year-old wokesters from Twitter running your administration, things are likely to go wrong for you, electorally speaking.
According to the Agence France-Presse, the AFP, Biden fires culture war salvo with big LGBTQ, plus minus divided by sign, ampersand, celebration.
By the way, apparently I'm not the only person who has trouble with the ever-expanding acronym.
Joe Biden, yesterday, he was having a celebration at the White House, and he was completely unable to get through the acronym.
And this is the first time I've ever been sympathetic to Joe Biden's brain not working properly.
We're also proud to have signed an executive order on my first day in office to combat discrimination against LGBTQI, excuse me, plus Americans in housing, in healthcare, in education, in employment, financial service, and the criminal justice system.
We're proud to sign the discrimination guidelines here.
LGBTQ.
BL.
C. T. Chip.
BL.
I do love a good sandwich.
BLT.
Mmm.
Delicious.
By the way, Joe Biden also celebrated this LGBTQ.
thing by this giant event at the White House, by wandering around. So that was encouraging as well.
This was Joe Biden. I mean, you can see he's like packing up after the speech. And once again, old man wanders around. Somebody needs to help him.
Somebody direct him. Come on, guys.
Where's the support staff?
There he is looking vaguely into the distance.
No one knows what's going on.
He's just wandering.
They're going to find him on a street corner somewhere in Washington, D.C.
After issuing some sort of amber alert for his whereabouts, the president of the United States.
So yesterday he announces that pride is back at the White House.
Hmm.
You know, it's not back at the White House.
Anything resembling decent policy or the protection of innocent children.
Here is the president of the United States.
Last year, we hosted this event and the message is simple.
Pride is back at the White House.
This has been the most pro-equality administration in history, led by guys like Pete Buttigieg and so many others.
I think we have more LGBTQ plus people than any administration or every administration combined.
No, I really mean it.
Well, that is an accomplishment.
To have the most people who are not heterosexual in any administration ever.
I mean, really.
Congratulations to the United States.
This is... What a place.
The future of the United States' success rests on how many people of alternative sexual identities work in the White House.
Not on whether you can actually produce good policy, but how many of you wish to sleep with people who are not of the opposite sex exclusively.
That would be, I think, the most important credential here.
Really, really important stuff from the Biden one.
But it wasn't just an event celebrating tolerance and diversity over at the White House.
It was actually the issue of an executive order.
Or as the White House puts it, a historic executive order advancing LGBTQ plus I, plus, minus, divided by sign, 2S, MN, ampersand, command sign, equality during Pride Month.
And now, this is fairly incredible, what this administration is now doing.
Because the policies they are now undertaking amount to the federal subsidization of the transing of your child.
That is what these policies now amount to.
They can't solve the economy.
They can't figure out gas prices.
But they can make clear that you as a parent should have no say when your five-year-old decides that he is a she and the school decides to start giving hormone treatment.
And if you bring your kid to a therapist and the therapist says, you know what, we might want to do some waitful watching and see if this desists on its own, which happens for the vast majority of kids.
Well, maybe that therapist is now criminally liable.
I'm not kidding.
This is something the administration is trying to do.
They are now calling it conversion therapy.
If you say that a girl is a girl, this is now conversion therapy, whereas it is gender-affirming therapy if you say that a girl who believes that she is a boy is a boy.
This is full reversal of the English language.
See, normally, you might think it was gender-affirming therapy to say that a girl is a girl.
You are affirming the gender of the girl in front of you.
But according to this administration, that is conversion therapy because you are converting a girl who thinks she is a boy back into a girl.
Whereas gender-affirming therapy would be to tell the girl that she actually is a boy.
That's affirming her gender.
Now, if all this is very confusing and nonsensical, that's because it's completely illogical, propagandistic garbage that harms children.
But this administration is foursquare behind it.
So here is what the White House released.
President Biden believes no one should face discrimination because of who they are or whom they love.
This kind of bumper sticker sloganeering is so unbelievably reductive.
First of all, Joe Biden clearly believes that people should face discrimination because of quote unquote who they are depends on who they are.
I think everyone in America believes that some people, if their actions are reflective of who they are, there are some people who we are not particularly tolerant of.
And this runs the gamut.
This is what criminal law is all about.
That does not mean we should discriminate against gay people, for example, but that statement is just far too broad.
Or whom they love.
Well, there are a lot of people who love people they should not.
Love, okay?
I'm not talking here about gay and lesbian people.
I'm not talking about adults.
But there are certain activities in America that we still consider criminal.
These are arguments that are just too broad.
They're just bumper sticker slogans.
Since President Biden took office, he has championed the rights of LGBTQ plus minus divided by assigned Americans and people around the world, accelerating the march toward full equality.
He's visiting Saudi Arabia today, by the way.
As President Biden said during his first joint address to Congress, the president has the back of LGBTQI plus people around this country.
That is why he is taking these bold actions today to mark Pride Month.
Ah, the greatest, most holy month.
It's like Advent.
It's like American Advent, Pride Month.
President Biden will sign an executive order advancing equality.
So what exactly is he going to do?
He's going to address discriminatory legislative attacks against LGBTQ plus I minus divided by sign children and families, directing key agencies to protect families and children.
Preventing so-called conversion therapy with a historic initiative to protect children from the harmful practice.
Safeguarding health care and programs designed to prevent youth suicide.
Supporting LGBTQ plus children and launching new initiatives to protect foster youth.
And so what exactly is he proposing?
This is again from directly from the White House.
Not making it up.
This is their wording.
Over 300 anti-LGBTQ plus-minus-divided-by-sign laws have been introduced in state legislatures over the past year.
Many of them specifically target transgender children and their parents by banning access to medical care or support at school.
Okay, what those laws actually do is say, before you start feeding hormones to my kid, you have to get my permission.
Also, you should not be teaching about gender fluidity to 3-year-olds and 5-year-olds and 7-year-olds.
Also, you should not be carving up teenagers.
You shouldn't be cutting the healthy breasts off of young girls who are having a mental breakdown.
You should not do this.
This is a bad policy.
And that's what those laws say.
Joe Biden opposes those laws.
President Biden is, quote, addressing these harmful, hateful, and discriminatory attacks head on, not only by speaking up for America's families, but by taking actions that stand up to bullies targeting LGBTQ plus I minus people.
First of all, you have to admire the gall of people who suggest that the complete destruction of gender, the touting of absolute radical gender theory lies to children somehow is about protecting kids.
The absolute unmitigated arrogance and gall of these people to wreck the lives of tens of thousands, if not hundreds of thousands of kids across the country in pursuit of their gender widget garbage It's truly an amazing thing.
They're out there to harm kids.
But no, we're here to help the kids.
It's all about helping the kids.
Bull.
That is untrue.
To help support impacted families, President Biden is charging the DHHS, the Health and Human Services Department, with protecting all of these children and families from attacks on their access to health care, and has instructed HHS to release new sample policies for states on how to expand access to comprehensive health care for LGBTQ plus I minus patients.
The president is also directing the Department of Education with addressing the impacts of state laws that target these students and has charged the department with releasing a sample school policy for achieving full inclusion for LGBTQI plus students.
What does this actually mean in practice?
It means they're going to try to withdraw federal funding from any school that does not allow a boy to go into the girl's bathroom, that they are going to try to connect federal funding to schools not telling parents about children attempting to be socially transitioned at school.
That is what this administration is going to do.
And it doesn't stop there.
There's much, much more to come.
So you, you're worried about, you know, whether you can put food on the table tonight?
Well, the president is also laser focused on whether your five-year-old boy is actually a girl and what he can do to make sure that you have no say in the matter.
Now, if all of this makes you think, man, I just want to crawl in a hole and die because this administration is such a disaster.
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All righty.
Tonight, my third Thursday book club, because tonight is the third Thursday of the month.
It's tonight, 8 p.m.
Eastern.
We're discussing the great American Western Shane by Jack Schafer.
Maybe the best Western novel of all time.
It's up for debate.
It's a classic study of human nature.
Good versus evil and the power of masculinity in shaping children.
This is not your average book club.
It's your chance to engage with me and with great literature like never before.
I'm going to take you through the book, share my notes and analysis with you, answer all of your questions.
By the time we're through, you will be well read, even if you haven't read the book.
This is one of my favorite things that we do here at the Daily Wire.
Share knowledge, promote the best of American culture and Western civilization more broadly.
Join me tonight.
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Tune in tonight at 8 p.m.
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This week was also the premiere, by the way, of our summer blockbuster, Terror on the Prairie.
So it's Western week here at the Daily Wire.
The wait is over.
Gina has been uncanceled.
A year and a half ago, Disney canceled Gina Carano.
Instead of just writing a think piece on cancel culture, we decided that we were going to work with her.
And now...
With her, we have produced Terror on the Prairie.
It is streaming right now only on The Daily Wire.
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This is Gina like you've never seen her before in a raw, gritty Western fighting for her family.
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But don't worry, Joe Biden's agenda for this Pride Month, it goes even further.
Again, laser-focused on the things that matter to American families, like whether we can cut the healthy breasts off your 15-year-old girl.
Quote, addressing conversion therapy.
As a candidate, President Biden pledged to help end so-called conversion therapy, a discredited and dangerous practice that seeks to suppress or change the sexual orientation or gender identity of LGBTQI plus people.
Okay, so first of all, when you think conversion therapy, this is what the left loves to do.
They like to take terms that actually have a meaning, and then they broaden that meaning to include a bunch of things that are not the original term, and then they try to go after it.
Okay, so conversion therapy originally meant, and this is what you're thinking of when I say the words conversion therapy, somebody strapping electrodes to kids who might be gay, and then trying to essentially create a Pavlovian response that is anti-gay.
Right, that is what, when people think conversion therapy, that's what they think.
They think electroshock that is being applied to gay kids.
That is not what this administration is talking about.
They're talking about a kid comes in and is sexually confused and the pastor or the psychologist or the psychiatrist talks to them about that without saying, clearly you're gay and we should just celebrate.
Or clearly you're a member of the opposite gender.
Like that one is totally insane.
So if a child comes in and says, I'm a member of the opposite gender and the therapist says, you know what?
You clearly have a biological sex.
Let's talk about why you're feeling misaligned.
And maybe we'll wait.
Maybe we'll see if maybe these feelings desist.
Or maybe we'll talk about what you can do to live comfortably inside your own body without, you know, lopping off body parts, reconstructing genitals that don't properly function, and pumping you full of hormones that may shorten your lifespan and or give you osteoporosis.
If you do that, if you say that, as a psychologist, Joe Biden says that you are now engaging in conversion therapy.
Today, according to the White House, President Biden is using his executive authority to launch an initiative to protect children across America.
It protects kids to prevent them from getting the medical care that they seek and that their parents seek and crack down on this harmful practice, which every major medical association in the United States has condemned.
Well, actually, that's not true.
Many medical associations have condemned, you know, traditional conversion therapy because it's bad and ineffective.
And immoral.
But that is not the kind of conversion therapy that you are talking about.
Again, you've broadened out the term.
Children who are exposed to so-called conversion therapy face higher rates of attempted suicide and trauma.
Again, the data that he is attempting to cite here, no footnotes, I've noticed.
Numerous states across the country have already passed bipartisan laws to prevent exposure to so-called conversion therapy, with Republican and Democratic governors signing state bans on conversion therapy into law.
Yet despite these efforts, many people in the United States and around the world are still subjected to this practice.
Again, Bans have been signed with regard to, you know, electrifying kids.
However, bans typically are a bad idea when you're talking about a kid questioning their sexual orientation or gender identity and someone talking to them about it, without immediately affirming everything that the kid believes.
President Biden is now charging HHS with leading an initiative to reduce the risk of youth exposure to this dangerous practice.
HHS will explore guidance to clarify that federally funded programs cannot offer so-called conversion therapy.
Well, first of all, like, were federally funded programs regularly offering traditional electrodegenerative conversion therapy that I missed?
President Biden is also encouraging the FTC to consider whether the practice constitutes an unfair or deceptive act or practice, and whether to issue consumer warnings or notices.
He's directing the Secretaries of State, Treasury, and HHS to develop an action plan to promote an end to so-called conversion therapy around the world, and ensure that U.S.
foreign assistance dollars do not fund the practice.
So, yes to funding abortion all over the world.
No to funding psychologists overseas who are dealing with kids who are gender confused.
Without immediately declaring they're a member of the opposite gender and it's time to chop off a d***.
Really, really strong stuff here from the Biden administration.
You know, standing up for the things that matter for not only children here, but children around the world.
The sort of NatCon, the nationalist conservative critique of the liberal governance of the United States is that basically it used to be that when America would drop a bomb on a foreign nation, it would have an American flag on it.
Now what the left has basically done is if they stick a gay pride flag on the bomb, they'll drop the same bomb but declare it virtuous.
I mean, hard to see where the meme is particularly wrong when it comes to Joe Biden at this point.
So what else is he doing?
Because of discrimination and bullying, nearly half of LGBTQI plus youth seriously considered suicide last year.
Again, a lie.
Okay, the idea that the high suicidal ideation rate among kids of alternative sexual identity and gender ideology, that this suicide rate is driven primarily by bullying and discrimination, it's a lie.
The data do not back this up.
In the most tolerant areas of the country, where, by the way, the rates of identification in this broader rubric are now extraordinarily high, right?
They are centralized in very specific locations with very specific ideologies.
The suicidal ideation rates remain incredibly high, because as it turns out, certain types of identification and certain types of activity are highly associated with suicidal ideation, regardless as to whether mom and dad give you the thumbs up or the thumbs down.
LGBTQI plus people of all ages, says the Biden administration, also face significant barriers to accessing healthcare and health disparities to safeguard Access to health care for LGBTQ plus I minus patients and address the LGBTQ I plus youth help mental health crisis.
President Biden is taking is charging HHS with taking steps to address the barriers and exclusionary policies that individuals and families face in accessing quality, affordable, comprehensive health care, including mental health care, reproductive health care and HIV prevention and treatment.
Are you excited?
Joe Biden is.
I mean, let's be real.
He's not really excited about this.
He doesn't know what's going on.
He's got a bunch of idiot interns from Wellesley who have figured out how to militarize the American government on behalf of their radical gender ideology.
And he's asleep in the back room after eating a bowl of cream of wheat.
That's what's actually going on here.
You think Joe Biden is sitting here writing these policies?
He ain't.
He doesn't even know what's going on.
It also charges HHS to help prevent LGBTQ plus I suicide by expanding youth access to suicide prevention resources.
Well, you know, one of the reasons why perhaps we have higher suicidal ideation rates across young people in the United States is the promotion of this ideology.
Maybe that is one of the reasons why it's very weird as the ID of LGBTQ plus Rises in society.
Look at that suicidal ideation rate!
It's going up!
Wow, that's amazing!
So you would imagine that it was going down because as more people come out and as tolerance advances, you would expect the suicidal ideation rate to come down in kind.
Wrong!
It turns out that they are both rising in tandem.
Which suggests an association, does it not?
But don't worry, Joe Biden has even more.
He says that children and families from LGBTQI plus groups deserve the same dignity and respect as all American families, but they continue to face significant barriers and discrimination.
Wrong death, Santas!
For LGBTQI plus young people, family rejection can lead to disproportionately rates of homelessness and over-representation in foster care, et cetera, et cetera, et cetera.
It just goes on and on.
He's doing more about making sure that your kids are a member of a sexual minority than he is making sure that you are not paying $5 for gasoline, that is for sure.
So, he also went after specifically Florida and Ron DeSantis, of course.
And this, of course, is the most important thing.
Because Democrats think they're going to win on the basis of this.
Okay, final note here.
Final note.
The Democrats, when they claim that their goal is not to mainstream this stuff into the minds of kids, just understand they're wrong.
It absolutely is.
They openly say it.
It is not just about tolerating people who have a genetic predisposition toward particular activity.
It is not just about making life easier for those people.
It is about promoting an agenda and clearly doing so.
Which is why it is not the world's most tremendous shock that the Michigan Attorney General, this is the quote of the day, the Michigan Attorney General, apparently said, and I'm not kidding, this is a thing this person said, quote, drag queens make everything better.
Okay, here we go. Her name is Dana Nessel.
She was speaking at a civil rights conference in Lansing, and here is what she had to say.
No, it's not a problem for kids who are seeking a good education. Drag queens.
Okay?
Let me say this.
Drag queens, not only are they not hurting our kids, drag queens make everything better.
Drag queens are fine.
Drag queens are entertainment.
And you know what I'll say that was totally not poll-tested?
I say this.
A drag queen forever is cool.
That is welcome.
Be fine.
A drag queen for every school.
Ah, a chicken in every pot, a car in every garage, and a drag queen in every school.
Well, at least they're saying the quiet part out loud now.
At least we know what the actual agenda is, and that is recruiting your children into a cult of expressive individualism that is going to wreck their life and also ruin the future of America.
Good job, everyone.
Seriously, a drag queen in every school.
This is what we should, you know, we've got some pretty serious educational issues in America.
Like, for example, the fact that we have massive educational gaps in math and science between the races.
And we have schools that are completely failing on every score.
And we had people who were completely out of school for a full year and are now a year behind.
And kids can't read competitively with their peers in other countries, and they can't write competitively with their peers in other countries.
We have massive educational problems here in the United States.
We have an entire generation of people who have been informed that the United States is congenitally evil and unfixable.
You know, we have a lot of problems.
All of that can be fixed by a drag queen in every school.
A drag queen in every school.
This is what the Democrats are focused on.
Like a laser beam.
According to the Federalist, K-12 schools must allow boys into girls' private areas now to obtain federal funds for lunches, breakfasts, and snacks.
That's what the Biden administration announced this month.
A U.S.
Department of Education spokesman told the Federalist the Biden administration press releases from several agencies announcing this policy will be followed by formal rulemaking in June.
So you want to feed your kids?
You got to make sure that Bobby goes into Jane's bathroom.
Really important.
John El Cesar, Executive Director of the Indiana Non-Public Education Association, said via phone, quote, it seems to be playing politics with feeding poor kids, which is really unfortunate. Because if a school feels they cannot participate because it's in conflict with their mission or values, if religion exemption is not granted, you're taking away a program that's feeding low income kids. And by the way, speaking of taking away educational opportunities for kids, speaking of destroying religious institutions, I have been proclaiming for a while that the agenda of the left is to completely destroy educational institutions of
of religious bent and traditional values in this country.
And now it is perfectly clear that this is what the left seeks to do.
The most obvious example of this is something happening at Yeshiva University.
So Yeshiva University is the largest modern Orthodox educational institution in the United States.
It is home to tens of thousands of Orthodox Jewish students.
As the name might suggest, Yeshiva University is an Orthodox Jewish institution, which means that it follows basic black-letter Jewish law, meaning that it is not in favor of homosexual activity.
Because, you know, the Bible and stuff.
Well, now a New York court has ruled that Yeshiva University must host an LGBTQ plus club on campus.
Must.
It is an openly religious institution with the name Yeshiva in the name.
Half of the university, the slogan of the university, by the way, is Torah Umada, which means Torah and secular studies.
Torah Umada was meant to be a rubric for a broader integration of secular knowledge, like science and math and literature, with Talmudic studies.
This is what Yeshiva University was dedicated to.
Well, now a New York court has said, you cannot be a religious institution that does education in the state of New York.
You can't.
This is literally what they said.
Judge Lynn Kotler ruled on Tuesday, according to the Jerusalem Post, that YU, as a non-religious organization, is subject to New York City human rights law.
Now, you might say to yourself, wait a second, a non-religious organization?
Isn't it called Yeshiva University?
Wrong!
Wrong, you see?
It's an educational institution that does religion, kind of.
This is what they are saying now.
This is what a court just ruled.
That is the New York County Supreme Court.
They directed it to immediately grant plaintiff Y.U.
Pride Alliance the full equal accommodations, advantages, facilities, and privileges afforded to all other student groups at Yeshiva University.
So presumably, you now have to have a Christian alliance at Yeshiva University.
And presumably, you have to have a full-on Orthodox Jewish alliance at any sort of Muslim or Christian university in New York City.
Because after all, listen, they want you to be left alone, right?
All they want is for you to reflect all of their views and destroy your own value system in the process.
And if you oppose them, they will destroy you.
In the decision, the judge determined Yeshiva University is not a religious corporation.
It's called Yeshiva University, you dumbass!
In addition, she ordered that defendants, YUSHIVA University President Ari Berman, be quote, permanently restrained from continuing their refusal to officially recognize the Y.U.
Pride Alliance as a student organization because of the member's sexual orientation or gender and or Y.U.
Pride Alliance's status, mission, and or activities on behalf of LGBTQ students.
In 2020, Y.U.
wrote a paper titled Fostering an Inclusive Community on the Issue of LGBTQ People in its Institution.
Yeshiva University is wholly committed to, and guided by, halacha, which is Jewish law and Torah values, the paper began.
These direct our every effort in establishing a caring campus community that is supportive of its members.
In the document, YU said that a team of administrators, psychologists, and rabbis spent four months meeting with individual students and alumni, and then they announced steps that they would take to address the concerns.
And they talked about increased support for students who have raised concerns regarding sexual orientation or gender identity, or ensuring there's a clinician on staff with specific LGBTQ plus experience, And it doesn't matter.
None of this matters.
Because a religious institution is no longer a religious institution according to the courts of New York.
YU is a private university, by the way.
It is not a public university.
It has four campuses in New York City.
So, the agenda of the left is never tolerance.
The agenda of the left is domination.
It's just domination.
And they wish to extend this domination to younger and younger kids.
Not just colleges.
Not just adulthood.
To younger and younger kids.
Which is why the propaganda Association, the World Professional Association for Transgender Health, WPATH, which is a wild propagandistic organization, said that they have now changed the recommended minimum age for starting gender transition.
Isn't that exciting?
They're moving it down.
Ever, ever down.
So now they say hormones should be started at age 14.
14-year-olds.
We should be giving young 14-year-old boys cross-sex hormones.
Absolutely.
Why not?
They can't consent to sex.
They can't have a cigarette.
They can't have a drink.
They can't buy a gun.
But they can start the process of transition.
Boys can start the process of becoming sterile and cutting off their genitalia, and girls can start the process of sterilizing themselves and cutting off their breasts.
It's all very, very exciting.
And if they're really lucky, maybe they can carve a piece of their own body off and form it into a fake penis and sew it onto them.
Wow.
All the opportunities available to these kids.
Don't you just feel like so many opportunities were foreclosed from you when you were a kid?
When mom and dad were like, nope.
Seems like you got a penis.
You're a boy.
Those bigots.
You know, all of human history and all mammalian biology and all.
So much bigotry in the real world.
I'm so glad that WPath is here to change all of that.
So now they say that some surgeries should be done at age 15.
Or maybe 17.
A year or so earlier than previous guidance.
The group acknowledged its potential risk, but said it's unethical and harmful to withhold early treatment.
Which of course makes sense, because they believe that biology is an imposition on your subjective sense of self.
Biology itself, reality, is an imposition on you.
This is the perfectly predictable result of what I've called over and over, in the words of Robert Bella, expressive individualism.
When you believe the only thing that matters is your feeling on the inside, everything that inhibits your feeling on the inside is opposition to you.
That includes the real world, it includes your parents, it includes your society, it includes your community, it includes roles, rules, and science.
All of those things are completely secondary to what you feel on the inside.
And that feeling, that begins when you're a kid.
That begins as early, because we all have feelings, don't we?
And that's the important thing.
The Association provided the Associated Press with an advanced copy of its update ahead of publication in a medical journal.
I mean, you can find a medical journal now to basically pre-print anything.
The update is based on expert opinion and a review of scientific evidence on the benefits and harms of transgender medical treatment in teens whose gender identity doesn't match the sex they were assigned at birth, the group says.
Such evidence is limited, but has grown in the last decade.
Oh, is that?
Oh, no, actually, it hasn't.
There are no good longitudinal studies that demonstrate a radical reduction in suicidal ideation among kids.
And again, the notion that reduction of suicidal ideation requires that we pretend that boys can be girls.
That has some rather large societal costs, does it not?
Particularly when you indoctrinate all kids with this idea.
Alrighty, we'll be back here later today with additional content coming up soon.
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