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Sept. 27, 2023 - The Ben Shapiro Show
56:39
Biden’s Car Crash Economy
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Alrighty, so Joe Biden's numbers continue to look absolutely awful.
There's a brand new poll out and it shows that Joe Biden's numbers, again, remain just devastatingly bad.
For example, this NBC News poll that just recently came out shows that Republicans have a 21 point advantage on the economy.
49% of registered voters picked the GOP, 28% Pick the Democrats.
That is the biggest lead Republicans have held on that question since 1991.
Since 1991.
Remember, Joe Biden, like a moron, decided that he was going to brand his entire economic program Bidenomics, which gives a shorthand to his Republican opponents, to now hang the economy around his neck.
They're gonna do that anyway, but now he himself has cut ads for them, saying Bidenomics is working over and over, creepily into a microphone.
Bidenomics is working.
Like, just juxtapose that footage with all of the inflation stats, juxtapose all of that footage with the stagnating economy, how people feel about the economy, and it's not going to work well for the Democrats.
These are really, really bad numbers for Joe Biden.
And so if you're wondering why it is that in every major national poll, Donald Trump is running either even to or above Joe Biden, the answer is because Joe Biden is terrible at the president thing.
Well, even James Carville, who of course is a Democrat, pollster, analyst, even Carville is like, somebody over there needs to wake the F up because Trump could easily win this election.
Let's assume the election was November the 3rd of this year.
And they said the candidates are Joe Biden, the Democrat, Donald Trump, the Republican, Joe Manchin and Larry Hogan, no labels, and Cornel West.
Trump would be a betting favorite.
Yes.
If I told you I would give you even money, you would not take that bet.
All right?
And so somebody better wake the f*** up.
Carville is not wrong about this.
Again, the polls are a little bit disparate.
We had the poll from ABC News Washington Post with Trump up 10, and that came out just a couple of days ago.
Now there's a new Morning Consult poll that shows Biden up 1, but Biden up 1 means that Biden is winning 43% of the vote.
That is a 43-42 race.
So the question here is whether there's a ceiling for Trump or whether there's a ceiling for Biden.
Who is this election going to be a referendum on?
Well, meanwhile, Joe Biden's team is physically attempting, I kid you not, to stop him from tripping.
Things are going amazing over at the Biden campaign.
tripping on drugs, like actually just physically tripping and falling down.
According to Axios, President Biden and his campaign are working on a critical project
for his re-election bid.
Make sure he doesn't trip.
Things are going amazing over at the Biden campaign.
I have to say that Donald Trump's description of Joe Biden walking a couple weeks ago in
an interview continues to be the single best description of Joe Biden walking.
Donald Trump said, he looks like he's walking on toothpicks every time he walks.
Looks like he's walking on toothpicks.
And that is true.
It looks as though he is desperately attempting not to fall over.
According to Axios, as voters expressed deep concerns about the 80-year-old president's age and fitness for office, Biden seemed to be taking extra steps to prevent him from stumbling in public.
With a physical therapist, Biden has been doing exercises to improve his balance as far back as November 2021.
He's been wearing tennis shoes more often to avoid slipping, and using the short stairs on Air Force One, entering the plane on a lower deck than before, because every time he goes up the stairs, he keeps falling up the stairs.
Democrats, including some in the administration, are terrified Biden will have a bad fall, with a nightmare scenario of that happening in the weeks before the November 2024 election.
You remember, this actually happened to Hillary Clinton when she collapsed into a van just a couple of weeks out from the 2016 election.
According to Axios, some senior Democrats privately have been frustrated with Biden's advance team for months, citing the incident with a sandbag where he tripped over a sandbag and fell down, and noting that the president often appears not to know which direction to go after he speaks at a podium.
Biden's balance difficulties are likely the result of what his physician has diagnosed as a combination of significant spinal arthritis and a mild post-fracture foot arthritis.
He works out many mornings with his physical therapist, and he has to have proprioceptive maintenance maneuvers.
So, um, that is interesting.
Apparently, the White House spokesperson Andrew Bates told Axios this isn't new.
This was disclosed in a 2021 report from the president's doctor, and then again this year.
So, Biden's erratic behavior, his inability to actually stick with a train of thought, and the fact that he's literally falling down, all of this undercuts the feeling that this is a durable candidate.
There's footage immediately after the story came up.
Joe Biden was going up the short stairs.
Again, they're not having him take the long, tall stairs like the middle of the plane anymore.
They're having him take the short stairs, which makes sense since he usually rides the short bus.
In any case, here he was going up the short stairs and nearly tripping.
And there he goes.
Almost slips, almost falls.
Again, I've been saying for months that watching Joe Biden do a press conference or go up a flight of stairs or anything, it feels like watching Nick Wallenda cross a volcano on a tightrope.
You just don't know when you're going to be watching history in the making every time he goes down or up a flight of stairs.
Now again, he could survive all of that if he were well respected.
He could survive all of that if there weren't a broad scale recognition that he's very bad at the president thing.
That when it comes to the policy, he's really bad.
And also, he's still plagued by serious corruption allegations.
And there's more news breaking on those corruption allegations, actually.
Like a rather significant piece of news breaking on those corruption allegations.
We'll get to that momentarily first.
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at Birch Gold. So in breaking news, Representative James Comer, who's the leader of the GOP
Oversight Committee in the House, he has now revealed that there was a wire amount from a
Chinese figure to Hunter Biden, and it was listing on this wire amount Joe Biden's home address.
According to James Comer, House Committee on Oversight and Accountability Chairman James
Comer announced the House Oversight Committee subpoenaed and obtained two bank wires,
revealing Hunter Biden received payments originating from Chinese nationals, including
Jonathan Lee, in July and August 2019 when Joe Biden was running for president of the United
Joe Biden's Wilmington, Delaware, home address is listed as the beneficiary address for both wires.
He said, quote, bank records don't lie, but President Joe Biden does.
In 2020, Joe Biden told Americans his family never received money from China.
We've already proved that to be a lie earlier this year.
Now we know two wires originating from Beijing listed Joe Biden's Wilmington home as the beneficiary address when he was running for president of the United States.
When Joe Biden was vice president, he spoke on the phone and had coffee with Jonathan Lee in Beijing and later wrote a college letter of recommendation for his children.
Joe Biden's abuse of public office for his family's financial gain threatens our national security.
What do the Bidens do with this money from Beijing?
Americans demand and deserve accountability for President Biden and the First Family's corruption.
Okay, so we have now moved the goalposts.
Remember, the goalposts were Hunter Biden never did anything.
Never took Chinese money, nothing.
To, okay, Hunter Biden may have taken Chinese money, but Joe never knew about it.
To, well, Joe knew about it, but he was never involved in the business.
To, well, Joe was involved in the business, but only tangentially by, you know, joining for like business calls.
To, well, Joe knew and he was probably kind of involved in the business and knew that his son was trafficking in his name and helping out his son, but the money never physically entered anything remotely to do with Joe Biden.
To, well, yeah, I mean, the wires did have his home address on them, but did Joe Biden personally take that check to the bank?
That is where we are now in this particular story.
By the way, it is worth noting that at the time that this wire listed Joe Biden's home address, you know who was not actually living at the home at that time?
It was Hunter Biden.
According to his own memoir, he was living in California at the time.
So apparently he was just, I don't know, using the home address of Joe Biden, best case scenario, because it was kind of a stable address for him to send the money.
By the way, that would be the same home address where Hunter Biden was sometimes staying and Joe Biden was keeping all of those classified documents.
Speaking of which, the Biden classified documents scandal is now apparently increasing.
According to the ABC News report, the federal investigation into Joe Biden's handling of classified documents prior to becoming president has now grown into a sprawling examination of Obama-era security protocols and internal White House processes, with investigators so far interviewing scores of witnesses, including Secretary of State Antony Blinken.
Federal prosecutors and FBI agents from Special Counsel Robert Herr's office have been interviewing witnesses for nearly nine months, targeting an expansive constellation of former aides, from high-level advisors to executive assistants and at least one White House attorney.
Apparently, as many as 100 witnesses have already been interviewed.
Apparently, authorities had apparently uncovered instances of carelessness from Biden's vice presidency.
It seems to them that it was more likely a mistake than criminal act that Biden took these documents with him, but they've reached no final determinations and the investigation remains ongoing.
Now, all of this would be significantly less suspicious.
Were Hunter Biden not receiving wires from foreign sources while Joe Biden had been presiding over the policy and then Joe Biden runs for president, he's keeping these documents in the garage next to his Corvette where Hunter Biden is present.
Not only that, by the way, all of this would be a little bit less troubling if it were not for the fact That we now know, for example, that Joe Biden and his friends apparently like hanging out with, like, Iranian sources.
There's a fascinating scoop from Semaphore talking about how the senior Iranian foreign ministry actually created an effort to boost Iran in the United States, and they effectively co-opted a bunch of Obama-era officials, including people who ended up in Joe Biden's administration.
If you're talking about documents floating around, you're talking about suspicious people hanging around those documents.
If you're talking, frankly, about lack of national security awareness or care, Joe Biden is near the top of that list.
And all of this is deeply suspicious.
Not just Hunter Biden receiving bribery money, which is pretty obviously what was going on here, but the fact that you've got these classified documents that are floating around every which way.
You can say it was a mistake that Joe Biden took all that stuff home.
All right, but at the very least, I mean, he took those home.
He left them in D.C., in his office.
He left them in his Wilmington, Delaware, in his garage.
And apparently, Iranian officials were swarming the Biden administration and the Obama administration.
According to Semaphore, in the spring of 2014, senior Iranian foreign ministry officials initiated a quiet effort to bolster Tehran's image and positions on global security issues, particularly its nuclear program, by building ties with a network of influential overseas academics and researchers.
They called it the Iran Experts Initiative.
The scope and scale of the IEI project has emerged in a large cache of Iranian government correspondence and emails reported for the first time by Semaphore and Iran International.
The officials working under President Hassan Rouhani congratulated themselves on the impact of the initiative.
At least three of the people on the foreign ministry list, people who are considered allies of Iran, were or became top aides to Robert Malley, the Biden administration's special envoy on Iran, who was placed on leave this June following the suspension of a security clearance.
The documents offer deep and unprecedented new insights into the thinking and inner workings of Iran's foreign ministry at a crucial time in the nuclear diplomacy.
The communications reveal the access Rouhani's diplomats have had to Washington and Europe's policy circles, particularly during the final years of the Obama administration, through this network.
One of the German academics in the IEI offered to ghostwrite op-eds for officials in Tehran.
Others would at times seek advice from the foreign ministry staff about attending conferences and hearings in the United States and Israel.
The emails describe the IEI being initiated to follow Rouhani's 2013 election when he was looking to find an accommodation with the West on nuclear issues.
And basically they just started planting people around Washington, D.C.
and a bunch of those people ended up in the Biden administration, including people surrounding Robert Malley.
I mean, this is frightening stuff and demonstrative of just how corrupt the ties are between foreign adversaries like Iran and the Obama administration.
I mean, truly astonishing stuff right there.
This is why Robert Malley, who was again brought on by Barack Obama and was an Iranian ally apparently, and also was then brought on by Joe Biden to negotiate with Iran and was surrounded by people who had been cultivated directly by Iran, That is frightening stuff, obviously.
Okay, in just one second, we'll get to the fact that because Joe Biden is flailing in the polls because his policy is really bad, because he's surrounded by bad people, now he's forced to take extremely radical measures to shore up his sort of core of support.
We'll get to that momentarily first.
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Okay, so, because Joe Biden is flailing in the polls, because the independents are turning away from him, because, at best, he's running competitive with Donald Trump.
Again, that should be, like, every morning bell should be going off for Democrats.
Democrats believe that Donald Trump is deeply unpopular.
And by the polls, Donald Trump, his popularity ratings, his His popularity, unpopularity ratings remain absolutely bad.
I know that there are a lot of people on the right who love him.
That does not change the fact that when you look at his approval rating, when you look at Donald Trump's approval rating, what you find is that his approval rating is really, really bad.
The latest approval rating is for Donald Trump.
Right now, according to FiveThirtyEight, his latest approval rating is 41%, unfavorable 55%.
Those are not good numbers.
The fact that Joe Biden is running even with him as the incumbent president, that is horrifying news for Joe Biden.
Remember, this guy who won 7 million more popular votes than Donald Trump, specifically in reaction to Trump.
So what does that mean?
It means that Joe Biden has to lock down that core support.
How's he going to lock down that core support?
Well, apparently it means that he is going to now signal to every union in the United States that if they strike, he's going to stand on their side against their employer in the middle of an inflationary wage price spiral.
This is totally crazy.
Okay, so the United Auto Workers are currently in the middle of a strike against two of the big three.
They're striking still against Ford, but they've decided not to broaden the strike because Ford is making a bunch of concessions.
Now, I remind you that the demands that are currently being made by the UAW are totally insane.
And what they actually want is crazy.
They want a 36% pay increase across a four-year contract.
They also would like annual cost of living adjustments, which means an automatic raise, They also want their benefits plans moved from defined payments plans to defined benefits plans.
So instead of you getting back sort of what you pay in plus a percentage, they want a defined benefits plan, which is what bankrupted the automakers in the first place.
They also want a 32-hour work week, and everything above 32 hours paid is overtime.
Which is totally crazy.
So these are nuts.
They also want the big three to scrap their two-tiered wage structure under that current system.
Top-tier workers, according to CBS News, earn an average of $33 an hour.
Those hired after 2007 are classified as lower-tier and earn about $17 an hour.
The UAW says that they just want to get rid of that so everyone gets paid $33 an hour.
So they want the defined pension.
They want substantial paid raises.
They want more paid time off.
And they want a four-day work week.
32 hours for 40 hours of pay, which is nuts.
They also want a right to strike over plant closings.
So, if the plants close because the profitability goes away, they want to be able to strike over that.
They also want a working family protection program that pays UAW to do community service work if the company's shut down a facility.
So, if they shut down a facility in Detroit, UAW is now going to have to, basically Ford, if they shut down, Stellantis, if they shut down a factory, they're going to have to pay the UAW workers to go to a food kitchen and work.
Which makes zero sense at all.
They also want to represent workers at their electric vehicle battery factories, which are being built right now in joint ventures between automakers and South Korean battery makers.
These are their demands.
So this is a list of demands that is totally nuts.
Okay, these are nutty demands.
It's particularly nutty given the fact that, again, these car makers are about to face the hammer of the Biden administration trying to force through electric vehicle transitions.
So the big three are deeply reliant, as I said before, on gas-powered engines.
Traditional engines.
And Joe Biden, because he is captured by his environmentalist base, believes that he can force down and cram down through government mandates that all of these companies move toward electric vehicle manufacture.
The problem is a lot more of that stuff is automated.
And so it means the number one profitability for these companies is going to go down because their chief sources of profit are going to go away in terms of the gas powered engines.
And number two, A lot of the jobs are going to go away.
So at a time when the jobs are threatened, thanks to the Biden administration, and the profitability is threatened thanks to the Biden administration, Joe Biden is siding with the UAW.
So yesterday, Joe Biden went to the actual Michigan picket line.
He did this because he's afraid that the UAW is not going to get out the vote for him.
In 2024.
That's really all this comes down to.
Sean Fain had already said, we're not going to issue an endorsement of Joe Biden because you either stand with us or you don't stand with us.
And so Joe Biden, like a good little lapdog, then went to Michigan and went to the picket lines with Sean Fain, which is crazy.
Again, the federal government should not be taking open sides between businesses and unions.
It's their job to help facilitate, if anything, You already have the NLRB, which exists, the National Labor Relations Board, an abomination of American government, that exists to help facilitate these things.
They're really just a union cutout when Democrats run the place.
So actively going and picketing with the UAW, saying, we agree with you on your demands.
You want inflation?
You want stagnation?
This is the way you get inflation and stagnation, is you have these unions that are striking in the middle of an inflationary economy.
to get higher wages and higher benefits, driving up prices at a time when, again,
people can't even pay the prices they currently have, which is going to lead to less demand,
which is going to lead to loss of jobs, which is going to lead to stagnation,
and then you're going to get true stagflation.
Everybody feels it.
And Joe Biden is going here because he knows he needs that union support.
That's how desperate Joe Biden is.
According to the Wall Street Journal, he walked a Michigan picket line with striking auto workers on Tuesday, offering an unprecedented display of union support.
As he and former President Donald Trump prepared for a fight for working class voters, Biden joined members of the UAW union at a GM customer care center, a politically risky step that makes him the first U.S.
president to walk a picket line.
This is totally nuts.
Again, they're calling for a 40% pay raise.
These workers are calling for a 40% pay raise.
So, we'll get to Joe Biden's activities on the picket line in just one second.
Again, Bidenomics is going to sink Joe Biden and his choice here is I'm going to steer directly into it.
It's a bold strategy, Cotton.
We'll see how it pays off for him.
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Okay, so Joe Biden actually was there for all of 12 minutes.
That's all it took.
Because again, all he really has to do here is just demonstrate that he has full fealty to the unions.
In a written statement on Tuesday, Donald Trump responded by blaming workers' problems on the push by Biden and Democrats to promote EVs.
He said Crooked Joe should be ashamed to show his face before these hardworking Americans he is stabbing in the back.
There's truth to all of that.
Trump had announced his Michigan visit first.
Biden's team then announced that he was going to go to the picket lines himself to demonstrate again full fealty to bend the knee to Sean Fain.
Joe Biden was cheered by the UAW as he arrived, because why wouldn't?
I mean, he works for them.
He doesn't work for you, the taxpayer.
Remember, the most corrupt bargain in American politics is unions electing the very people who then help negotiate rich contracts on their behalf, using the full weight and force of the federal government.
It's super corrupt.
Here is Joe Biden arriving yesterday in Wayne County, Michigan.
I've heard me say it many times.
Wall Street didn't build the country.
The middle class built the country.
You built the middle class.
That's a fact.
So let's keep going.
You deserve what you've earned, and you've earned a hell of a lot more than you're getting paid now.
You deserve what you've earned.
Okay, well, if they'd earned it, then presumably they would have been able to negotiate this without striking and bringing the President of the United States as the pressure cooker for the big car companies.
By the way, here's how this works.
You cram down these union contracts, the auto companies go belly up, and then the federal government comes in and bails them out.
We've done it twice before in modern American history.
It happened in the early 80s, and then it happened again in 2008-2009.
So, we've been here before.
Cram down a bunch of crappy contracts, bankrupt the auto companies, make them uncompetitive, and then come in and bail them out with taxpayer cash.
That is the way all of this works.
When Joe Biden, by the way, says that Wall Street didn't build the country, the middle class built the country, what is this?
That's such a stupid line.
Wall Street is not working in opposition to the middle class.
Who do you think invested in the company that hires people?
Who do you think These companies are built by investors.
They are built by entrepreneurs.
And then those companies create a market.
And then they have to cater to that market by hiring workers and hiring labor.
The notion that the middle class didn't exist until unions existed in the United States is a lie.
The United States is a middle class country by the time of de Tocqueville.
It's ridiculous.
Then Joe Biden says, stick with it.
You deserve the raise.
You deserve the significant raise.
Stick with it.
So you want the strike to continue is what you're saying if you're the president of the United States.
He's wearing a UAW hat.
It's egregious stuff.
It's really quite disgusting.
Putting on the hat of a union in the middle of a negotiation with an employer.
These are two supposedly private parties.
Remember, the UAW is a private sector union.
And Joe Biden is supposed to be representing you, the taxpayer, not the union.
I mean, this is wild stuff.
There's a reason no president has done this in the past, including Barack Obama, who is totally in hock to the unions.
Here is Joe Biden being as radical as radical can be.
You guys, UAW, you saved the automobile industry back in 2008 and before.
What?
Gave up a lot.
And the companies were in trouble.
But now they're doing incredibly well.
And guess what?
You should be doing incredibly well, too.
It's about time for them to step up for us.
Who is us, my friend?
Who is us?
I mean, first of all, let me point out that the reason that the UAW had to make concessions to the automakers in 2008 is because the automakers were bankrupt.
They were literally bankrupt.
They're going to be sold on the chopping block.
Every UAW contract would have gone to zero.
Zero.
Because bankruptcy would have voided the contracts.
So what they had to do is make concessions to receive $34 billion in federal aid.
Again, this is the way that it works.
The UAW cuts these really rich contracts with the automakers at the behest of the government.
And then the market goes south.
The automakers take it on the chin.
They're on the verge of bankruptcy.
And guess who gets to pay for it?
You get to pay for it.
That's the way all of this works.
Well, it's very awkward because, again, the UAW right now is striking for benefits that no American gets.
I mean, a 40% pay raise over four years?
40%?
A 32-hour workweek?
A unicorn?
That's what they're currently striking for.
And so Corinne Jean-Pierre was asked at the White House, so is he actually in agreement with all these demands?
Is that what he wants here?
And she's like, well, I'm not going to say.
I mean, he's out there on the picket lines with them, but he's not expressing a policy preference.
Well, I noticed that when you endorse one side in a negotiation that generally involves endorsing their positions, that's an absurdity.
All you had to do was not go to the picket line if you didn't want to express a policy preference.
If I go to a picket line where people are literally striking for X, Y, and Z, and I don't express my policy preference, I just put on their hat, and I talk about how wonderful they are, and how they deserve everything they're striking for, well, yeah, I mean, he's endorsing the UAW position, but the problem is, now the White House is stuck between a rock and a hard place.
Because as the economy continues to turn south, Guess who's going to get blamed?
Joe Biden out there on the picket lines.
It's the easiest ad in the world.
Your car now costs a bunch more than it would have cost otherwise.
You know who's to blame for that?
Joe Biden.
Joe Biden's to blame for that.
Here is Kareem Jean-Pierre trying to somehow get out from this sticky position.
It seems like by going to stand with workers at a picket line, the President is literally standing with them in the terms that they're seeking in the contract dispute.
But when you're asked about some of the specifics of that, you seem to be saying you guys don't want to get into the specifics of the dispute.
Is he not standing with them on the terms with which they're trying to negotiate?
I mean, to be very clear, he is standing with them to make sure that they get a fair share.
That is what he's standing with them on.
He's standing with them, and we've said this, that they get the record profits mean a record contract for UAW.
That is why he's going.
That is what he's standing for, right?
They deserve a fair share of the value that they helped create.
That's what the president is saying.
But the details, the specifics of what that looks like, what makes both sides happy or anything at the negotiation table, that is for them to decide.
Well, then what's he doing there?
He has no position on how this negotiation comes out.
He's just literally putting on the hat of one of the parties.
Imagine that you have a mediator, okay?
This happens all the time in contract disputes.
There's a mediator.
Imagine the mediator comes in, right?
It's a dispute between you and me.
And the mediator comes in wearing a daily wire hat.
Which side do you think he's going to take in that mediation?
This is so ridiculous.
It's ridiculous.
But he's a ridiculous president of the United States.
Meanwhile, the line that is being used here by the Democrats is that Joe Biden is able to do this because he's overseeing a manufacturing renaissance here in the United States.
Debbie Stabenow, senator from Michigan, she's saying that Joe Biden can take sides with the UAW because he's bringing manufacturing jobs back to America.
That's one of the big lies that Joe Biden tells.
explore in just a second.
In fact, the rate at which manufacturing jobs are being created in the United States
is precisely the same across administrations.
But here is a Debbie Stab in a line.
And for the auto workers, what is the significance of the president being there today?
Well, Willie, it's always great to be with all of you.
Let me just start by saying it is historic that we have the President of the United States that will be joining with the union on the picket line.
He's actually been overseeing the largest manufacturing renaissance in our history, for all of us in our lifetimes right now, creating more jobs.
We want to make sure they're good-paying jobs.
Okay, well, that's a lie.
I mean, here, for example, is a chart from the Federal Reserve Bank of St.
Louis of manufacturing jobs that have been created over time.
What you see is there's a massive decline in manufacturing jobs in the United States during the rate recession from 2008 to 2009.
And then it started to slowly climb and has continued to slowly climb all the way until about mid-2020.
And then the pandemic hit.
And then after the pandemic hit, it dived.
And then it kind of increased back to where it was kind of before.
So no, it turns out that manufacturing jobs have not been wildly coming back to the United States under either Trump or under Joe Biden.
And the reason for that is because of partially union contracts.
It turns out it's really expensive to do labor in the United States.
So you've had tech upticks, right?
People have been creating new technologies, robotics.
If it's that expensive to hire the UAW, why not just build the machines that are going to take those workers off the line?
In the United States manufacturing sector, productivity has more than doubled since 1980, even as employment has fallen by about one-third.
Again, that is because of machines.
That is because of new technologies.
We're never going to go back to the 1950s with the percentage of people who are in manufacturing.
But the notion that Joe Biden can stand with the UAW and make labor in the United States more expensive and simultaneously increase the number of manufacturing jobs, it belies pretty much all data.
Meanwhile, Steve Ratner, who was the Obama administration's car czar, actually slammed Joe Biden for doing all of this.
He said for him to be going on the picket line is outrageous.
He said there's no precedent for it.
The tradition of the president is to stay neutral in these things.
I get the politics.
The progressives all said, we don't want a mediator, we want an advocate.
And he bowed to the progressives, now he's going to go out there and put his thumb on the scale and it's wrong.
He's in favor of the UAW getting some more benefits, but he said increasingly militant UAW is overplaying its hand with an overly lengthy and overly ambitious list of demands.
This is a prolonged strike, which could lead to far more widespread shutdowns of auto facilities, could jeopardize the economic recovery.
Our nearly $800 billion auto industry accounts for 3% of economic output, with particular concentration in the Midwest, where states like Michigan are critical to Biden's reelect effort.
So again, that's Obama's own Karzai saying this is insane.
You can't do this.
Meanwhile, where did Joe Biden go?
And his coalition, basically right now, is union heads, minorities, college-educated white ladies.
That is the coalition for the Democratic Party.
And Joe Biden was trying to bring all that together.
He spent 12 minutes on the picket line, according to the Free Beacon, with those autoworkers, and then he headed directly to a fundraiser in California at the home of a billionaire couple that funds the movement to abolish policing.
So he stayed there for like 12 minutes, gone, immediately moved over to California to pick up some checks from the rich libs.
So, solid stuff there from the President of the United States.
By the way, the economy continues to stagnate.
According to the Wall Street Journal, the amount of cash the U.S.
household piled up after the pandemic struck has shrunk.
In fact, U.S.
household savings exploded after the pandemic because the government was signing people checks for nothing.
So the question now is how much cash is left, if any.
According to the Wall Street Journal, The easiest way to see what happened to savings in the wake of the pandemic is to look at the personal savings rate.
Measuring the share of after-tax income that doesn't get spent, in April 2020 it was 33.8%, compared to 8.8% over the course of 2019.
It stayed elevated throughout 2020 and most of 2021.
compared to 8.8% over the course of 2019.
It stayed elevated throughout 2020 and most of 2021.
Last year, it was just 3.5%.
This year, it is 4.3%.
Again, that is way too low.
So, one way that economists have tried to figure out how much excess savings are on those household balance sheets is basically to add up all the after-tax income that didn't get spent since the pandemic hit.
One of the more pessimistic takes out there is from the federal researchers at the Federal Reserve Bank of San Francisco.
They calculate that excess savings peaked at about $2.1 trillion in August 2021.
By the second quarter of this year, less than $190 billion remain, putting them on pace to be completely depleted in the current quarter.
In other words, all those savings that people had saved up We burned through it.
It's pretty much gone.
And now, the Fed rate hikes are having a significant impact on people's wallets.
According to the Wall Street Journal, consumers in the market for loans to buy homes and cars are discovering that because of the Federal Reserve's rate increases, their money gets them a lot less than it would have just a few years ago.
Meanwhile, those with credit cards and other loans that carry rates pegged to broader benchmarks are finding they've gotten way, way, way more expensive.
Borrowers shopping for mortgages or auto loans are experiencing sticker shock.
30-year fixed-rate mortgages are around 7%.
That's up from 3% just a couple of years ago.
This is why there's stickiness in the real estate market.
Nobody can sell in order to buy again because you're not going to sell your house even if you made money on your house because then you have to get into a 7% mortgage.
Buying a home or a car right now is completely unaffordable for the typical American household because you're mixing the higher borrowing costs with the high prices, said Mark Zandi, Chief Economist at Moody's Analytics.
He estimates the typical American household would need to use 42 weeks of income to buy a new car, up from 33 weeks three years ago.
The National Association of Realtors calculates the typical American family cannot afford to buy a median-priced home.
And then you wonder why Americans are pessimistic about the economy?
This would be the reason.
Meanwhile, the Biden administration doing its best to make life even more unlivable is having the FTC sue Amazon.
So Amazon, which is the cheapest and easiest way for people to get product in the United States right now, is now being sued by Lena Kahn, who is a wild lefty at the head of the Federal Trade Commission.
She's trying to sue Amazon on the theory that they are effectively a monopoly and using monopoly power to enrich itself.
Now, the problem, of course, is that there are two theories of monopoly.
One is you own to larger percentage of the market.
The second is that it's harming consumers.
Name the way in which Amazon is harming consumers.
They're bringing you products cheaper and faster than any company on planet Earth right now.
The FTC is going after them anyway.
Why?
Because again, a bunch of political allies of Joe Biden, lefties, they don't like Amazon.
It is too big and they want to break it up.
That is where the Biden administration is right now.
And then you wonder why this dude is so wildly unpopular.
Well, that would be the reason.
More on that momentarily first.
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Well, meanwhile, Joe Biden continues to fail on pretty much every front.
It's just not economic.
It's also immigration.
The mayor of El Paso, Oscar Leaser, he was thanking Alejandro Mayorkas, the Homeland Security Secretary in FEMA, for disaster money.
They wouldn't need disaster money for illegal immigration if they weren't opening the borders and allowing, you know, tens of thousands of illegal immigrants to pour into the country every single week.
On the federal level, do you feel like the administration has been responsive to the scale of your needs?
Well, the city of El Paso couldn't do it on their own.
It's an impossibility that we would be able to fund these kinds of millions and millions of dollars.
So, we've been very thankful for the Secretary of Mallorca, FEMA, that's actually given us the funding to move forward.
But we do understand that funding may end and it would be an impossibility for a city like El Paso to be able to do that and make sure that people are not on the street and we continue to protect the safety of our community and also our visitors.
The same El Paso mayor also suggested, by the way, we don't have any more hotels.
We've literally run out of hotel space for illegal immigrants.
You mentioned ongoing crisis.
You've said the city is at a breaking point right now.
I'm interested, how long can you go on like this, particularly as surges continue cyclically?
You know, and the team here in El Paso has done an incredible job.
The city, the county, we all work together to make sure that we provide a bed and a warm meal for everyone.
But we are at a breaking point.
We're running out of hotels.
We're running out of space.
And when I talked to Chief Owens from the Border Patrol, he told us to prepare for about 2,000 crossings a day.
Meanwhile, Chicago alderman Raymond Lopez, he's out there openly saying that Joe Biden needs to get his head out of his ass.
What we see here is the fact that Chicago can't sustain this.
Chicago can't answer this crisis because this is the federal government's failure at the border brought to our backyard.
Literally, here in the middle of the city of Chicago, in front of a police district, a scene that's been repeated 22 times over, where we have nearly 1,600 people living in police districts, in the lobbies, in tents, in the parkways.
You know, you can't keep asking cities like Chicago, whether they are a sanctuary or not, to come up with the solution for the federal government's failure.
Joe Biden, Kamala Harris, all of Congress need to get their heads out of their rear ends and start focusing on what's important.
There's a reason that Joe Biden's approval rating on immigration is 20%.
20%.
And I imagine that those 20% are people who are immediate members of the Biden family because his policy is a disaster area.
There's a reason that Joe Biden's approval rating on immigration is 20%.
And I imagine that those 20% are people who are immediate members of the Biden family
because his policy is a disaster area.
Meanwhile, President Trump, again, this is a good issue for him, has been blasting the
The Biden administration is giving free cell phones to illegal immigrants crossing the
border in the hopes that they will then call back in for their judicial appointments or
something.
And Trump's like, wait, we won't pay for military members to go visit their families and we
won't pay for them to have free cell phones, but we're going to give them to illegal immigrants?
Explain.
Puts the illegal aliens above our veterans.
Our veterans live like hell.
And you know what you see what's happening.
You ever see the illegal aliens?
And one, the weirdest thing, they come in by the tens of thousands, sometimes a day, and they all have cell phones.
I'm saying, where did they get the cell phones?
Everybody has a cell phone.
They're all talking in these beautiful cell phones.
And they're expensive ones, too.
They're nice ones.
Somebody who's into that said, those are good phones.
And then I say, who pays their bills?
Who's paying the bills, Marjorie?
Do you want to check that?
I'll give it to Marjorie.
She'll figure that one out fast.
No, but you ever notice?
They're all coming in with cell phones.
Our veterans don't have cell phones, do they?
Okay, he is right about that.
Again, Biden's immigration policy is terrible.
So is his crime policy.
And the fact that you have an administration that has basically sicced its Attorney General, its DOJ, on police departments all over the country has predictable effects, including massive crime waves, particularly when it comes to mass shoplifting and looting, that have taken over America's major cities.
According to the Minneapolis Star Tribune, Target is going to close nine stores across four states because of theft and crime.
There's a shocker.
You mean the Black Lives Matter movement that ended with the police not being involved in any way in American life and basically standing aside as people loot stores?
You mean that damages businesses and then the businesses leave?
No!
Great shock there.
According to the Star Tribune, Target is going to shutter nine stores across four states on October 21st because of theft and threats to safety, the company announced on Tuesday.
The latest and loudest example of a retailer exiting urban locations because of crime.
Target said it made the difficult decision to close the stores.
They include locations in the Harlem neighborhood of New York City, Seattle, Portland, and the San Francisco Bay Area after Target determined that the theft preventative measures had proved ineffective.
The company said it tried adding more security, including third-party guards and using deterrents like locking up merchandise.
But the company also said, quote, We cannot continue operating these stores because theft and organized retail crime are threatening the safety of our team and guests and contributing to unsustainable business performance.
We know our stores serve an important role in their communities, but we can only be successful if the working and shopping environment is safe for all.
That's insane, by the way.
Apparently, Target says that they expected inventory shrink, attributed to theft and organized retail crime, to reduce the company's profitability by $500 million this year.
Target stores saw a 120% increase in theft involving violence or threats of violence in the first five months of the year.
That is insane.
Those numbers are crazy.
The National Retail Federation, which represents retailers across the country, reported on Tuesday that the average shrink rate in fiscal year 2022 increased slightly to 1.6%.
That brought losses to $112.1 billion to the industry in 2022.
More than 45% of retailers had reduced store hours, nearly 30% had altered store selections, and 28% had closed their location because of crime or violence.
Okay, that is all because of the Black Lives Matter movement and the aftermath and the Democratic Party's endorsement of lawless policy all across America's major cities.
Then these businesses leave, and then it is the businesses accused of racism because they're leaving predominantly minority areas where the crime rates are highest.
That's what's happening.
And then, of course, it's capitalism that gets blamed, not the lawlessness that has been promoted by the Democratic Party.
Meanwhile, the attacks on President Trump are coming fast and furious.
Two forms of attack.
There are the legal attacks and there's sort of the publicity attacks.
So the legal attacks, one of the stupidest legal attacks that we've seen is this ridiculous lawsuit by Letitia James, who is the Attorney General in New York, who came into office pledging to get Donald Trump And then filed no criminal charges against Donald Trump because she couldn't find anything.
So instead, she filed a civil lawsuit against the Trump Organization for Fraud, which was absurd.
She was basically alleging that they had inflated their assets and their worth in order to get particular loan deals.
The problem is, the loan companies should be the ones suing.
Like, why is Letitia James, if the loan company doesn't like the loan that it cut with Trump and they think he was fraudulent about it, they could sue him, but they're not suing him, so instead Letitia James is.
Well now, a judge has ruled that Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House, and he ordered some of the former president's companies removed from his control and dissolved.
Judge Arthur Engeron, ruling in a civil lawsuit brought by the New York Attorney General Letitia James, found that Trump and his company deceived banks, insurers, and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing loans.
He then ordered that some of Trump's business licenses be rescinded as punishment, making it impossible or difficult for them to do business in New York.
This is ridiculous.
Honestly, it's just... it's ridiculous.
Apparently, they allege that Trump, his company, and key executives repeatedly lied about his riches on his annual financial statements, reaping rewards such as favorable loan terms and lower insurance costs.
Those tactics crossed the line and violated the law, the judge said, rejecting Trump's contention that a disclaimer on the financial statements absolved him of any wrongdoing.
So, here's the problem.
I mean, who exactly did he defraud?
And if he defrauded the government, shouldn't they be bringing criminal charges, not civil charges, on all of this sort of stuff?
Engram found, for example, that Trump consistently overvalued Mar-a-Lago, inflating its value on one financial statement by as much as 2,300%.
The judge also rebuked Trump for lying about the size of his Manhattan apartment.
This is like, this is super weak tea.
Is it gonna have any impact on Trump?
Absolutely not.
People are just gonna go, oh, so he's just super rich, not super duper duper rich.
Meanwhile, the media are agog over the latest tell-all from the Trump administration.
Every so often, a member of the Trump administration leaves, gets a sweet gig over at CNN by talking about all the juicy stuff that happened during Trump's presidency.
The latest bombshell thrower is Cassidy Hutchinson.
Far be it for me to deny Cassidy Hutchinson's truthfulness, but I have some doubts.
The reason I have some doubts is because she's made multiple claims over the course of the last year or so that turned out not to be true.
So, for example, Greg Price has a good rundown of this on Twitter.
Hutchinson testified that Trump assaulted Secret Service agents and lunged for the Wheel of the Beast on January 6th.
Remember this one, that he's like, I want to go to the Capitol.
Let me go to the Capitol.
And then it turns out that everybody in the car was like, no, that didn't happen.
And then she also testified that former White House counsel Pat Cipollone personally warned her not to allow Trump to go to the Capitol or quote, we're going to get charged with every crime imaginable.
There's only one problem, which is that Cipollone was not at the White House when Hutchinson claimed he was.
She testified that she was personally handwritten a note at the direction of Mark Meadows.
But it turns out that it was the former Trump White House lawyer, Eric Hirschman, who said that he had written a particular note.
Hutchinson testified that the former senior Justice Department official Jeff Clark strategized with Rudy Giuliani and the Trump campaign to object to the election, but those two never met each other.
She then continued to work for Trump a full nine weeks after January 6th.
In her private text with friends that were reported by the Federalist and Daily Caller at the time, she joked about the riot on January 6th.
She said the J6 committee was phony and BS, and begged Trump officials for financial assistance after she was subpoenaed by the committee.
Then she didn't receive the financial assistance, and then she turned on Trump and wrote this tell-all.
So now she has a new book out, and the media are doing an excellent job selling it for her.
It is called Enough.
And it has a big photo of her right on the front cover, which is always the sign of a person who wishes to shy away from the limelight.
And her claims include the idea that apparently pretty much everybody in her 300-yard vicinity sexually harassed her.
So she claims that Rudy Giuliani did.
She claims that Matt Gaetz did.
She claims that like a wide bevy of Republican figures sexually harassed her over her time.
Um, she also claims that Mark Meadows, the former Trump chief of staff, was guilty about Herman Cain's death.
Herman Cain was a former Republican candidate.
He died of COVID.
He had attended a rally that Trump held, and then he got COVID, maybe from the rally.
And she suggests that, again, pretty much everybody was very into her.
Rudy Giuliani, as we say, she claims that he literally sexually assaulted her.
Quote, his hand slips up under my blazer, then my skirt.
I felt his frozen fingertips trail up my thigh.
He tilts his chin up.
The whites of his eyes look jaundiced.
My eyes dart to John Eastman, who flashes a leering grin.
So, there's that.
She claims that Matt Gaetz made a pass at her during Camp David.
He claims that he actually dated her.
And then she said, I would never date him and all the rest of this stuff.
And she's, she's making the rounds.
So she was asked on The View.
So why didn't you abandon Trump sooner?
And she said, Oh, I was confused.
I was going to be, well, I mean, maybe the question is what made you abandon Trump now?
And maybe the answer is because one side of the aisle, like people, people who turn on Trump make a lot of money.
I tried to write the book with intention to bring the reader into my mindset at the time.
Okay.
And frankly, it is confusing.
And I wasn't deliberate to confuse the reader, but I was in this confused fog of a divided loyalty, but knowing what I wanted, but not feeling empowered to sort of break away from that.
Specific to actually moving to Florida with him after.
Yeah.
And again, in my hindsight now, I realize that this is not normal.
I should not have been thinking like this.
But I did genuinely put a lot of the blame on myself, on the people that had surrounded the president, because I felt that it was our job to advise him.
It was our job to stop him from making bad decisions.
Oh, it's also selfless.
That's what we're seeing here.
And then she choked up, which is what you do in a book tour.
Said that she felt that she was killing people, that actually the Trump administration was
killing people. In the Herman Cain moment specifically, in summer of 2020,
in my mind at the time, I was thinking this was us. We are killing people.
I knew we were being irresponsible of how we were handling COVID.
But this was somebody that was tangible that we knew and that was at the rally that we knew was a bad idea.
So then we flash forward to January 6th.
January 6th happened because of the administration, because of the former president, because of Mr. Trump.
He is responsible for the person that was killed that day, in my opinion.
Okay.
And then she stuck around for nine weeks afterward and talked about how January 6th was BS.
So, uh, there was that.
Meanwhile, Rachel Maddow was giving her the red carpet treatment and, uh, and asked her about all of the, uh, the creepy claims of the sexual harassment in her book.
And like, like I say, she makes like a bunch of these sorts of claims.
Ms.
Hutchinson, one of the claims in your book that received some attention ahead of publication is an allegation you make that Rudy Giuliani effectively groped you at the Trump rally on January 6th.
You say that he reached his hand under your blazer and then under your skirt.
Mr. Giuliani's spokesperson has called this a disgusting lie against Mayor Giuliani.
He gave us that statement again himself tonight.
But I was struck by the fact that he was not the only one.
Page 52 of the book, you say that John Boehner, of all people, looked down at my cranberry vodka and whispered dark liquor or red wine from now on.
Then he tugged on the ends of my hair, saying, and loosed the ponytail.
You describe the president, and this is not groping, this is not physical, but you describe him
as telling you to add blonde highlights to your hair, which you then went home and did and came back to them.
I didn't do that.
At the White House the next day, that doesn't happen in normal workplaces,
I'm just telling you now, sorry.
Yeah, I learn a lot on the outside.
Yes, there's a whole world out there when guys get fired for doing stuff like that.
Well, you know, there is an entire economy of people who have made a living off of telling
these hell holes after serving in the Trump administration, which is, again, is that gonna damage Trump?
Not really.
It's all baked into the cake, but it is pretty amazing.
It is pretty incredible stuff.
So there's all that.
She also claims that Trump was okay with Mike Pence being hanged, which, again, people have already testified to the idea that Trump basically did nothing in the White House, so she's not really adding anything here, but she claims I hear him say hang repeatedly.
Hang!
Hang!
What's that about?
Mark hands his phone back to me, the cue for me to return to my desk.
Back in my office, my phone notifies me of a Trump tweet.
Mike Pence didn't have the courage to do what should have been done to protect our country and our Constitution, giving states a chance to certify a corrected set of facts, not the fraudulent or inaccurate ones which they were asked to previously certify.
USA demands the truth.
Hutchinson continues, I'm struggling to process what's happening as Mark, Pat Cipollone, Pat Philbin and Eric Hirschman stumble back to the office.
I overhear their conversation and suddenly everything makes sense.
They are calling for the Vice President to be hanged.
The president is okay with it.
He doesn't want to do anything.
He doesn't think they're doing anything wrong.
He thinks Mike is a traitor.
This is crazy.
We need to be doing something more.
Again, all of this is crocodile tears a little bit late here from Cassidy Hutchinson.
And come on.
Okay, time for some quick things I like and then some things that I hate.
So things that I like today.
So there is a Republican debate tonight.
Now Donald Trump is leading the field by leaps and bounds.
So, the question is going to be, exactly what is the purpose of this debate?
So, the number of candidates on the stage is now down to seven.
It obviously should be lower than that.
The number of true candidates, even for the number two slot right now, is effectively DeSantis, Haley, Scott, Ramaswamy, Pence, and Christie, right?
It's effectively six.
Listen, I enjoy Doug Burgum as much as the next political junkie, but why is he taking up time?
Nobody really knows.
This debate, we'll see what the ratings are like for it.
Right now, the polls are showing Trump far and away in the lead in every major state.
Nikki Haley has slipped into a second place position in New Hampshire.
When it comes to Iowa, DeSantis is far and away in the second position over the rest of the field.
No real good polling data coming out from South Carolina as of yet.
Trump is ahead there.
Nikki Haley is in second there.
But bottom line is, Trump is lapping the field.
I mean, he's way the hell ahead.
So what does everybody need to do tonight?
Well, I mean, the field has to consolidate somehow or this isn't going to be a race.
Somebody's got to get knocked out.
So you presume that there's going to be a lot of fire.
There wasn't any fire trained on DeSantis in the last debate, but I think the other candidates sense blood in the water.
They're presumably going to go after DeSantis.
DeSantis, meanwhile, is going to need to presumably fend off those attacks and make the case as to why he is going to be the best candidate to beat Joe Biden.
And the more that Trump continues to lead in the race, the less these debates seem to matter, to be perfectly frank.
With that said, it'll be fascinating to see the internal politics here.
Because basically right now, it seems like everybody is sort of running for second and then waiting for Trump to fall down.
It seems like a lot of people are waiting for the indictment to come through or for Trump to actually get arrested again.
I mean like fully or convicted or whatever it's going to be.
And maybe that'll knock him down and then somebody sort of picks up the slack here.
So it's fascinating to see the lobster scrum, the crab pot, as everybody tries to pull each other back down into the pot.
I would imagine most of the incoming is coming for DeSantis today.
We'll see how that goes tonight.
Okay, we'll cover it obviously tomorrow.
Time for a quick thing that I hate.
So, Knott's Berry Farm is a place for children.
Whenever people on the LGBTQ plus minus divided by sign left say they're not coming for the kids and to train them in their morality, I wonder why then is this becoming such a common sight?
Why is this sort of stuff happening at places with kids?
So here is a bit of an act from Knott's Berry Farm.
It's Knott's Scary Farm because we are now about to enter October.
And they had a satanic show involving apparently a Sam Smith knockoff in bondage gear, a male slapping the asses of other men as male and female gyrate around to the background of satanic imagery.
So this is for kids.
Good stuff here from Knott's Berry Farm.
So, uh, gyrating, thrusting, pondage gear.
Bye.
Uh, you've got women who are twerking in bikinis, in satanic gear, as, uh, as water splashes upon them.
Perfectly appropriate for children.
So glad that we can create this kind of future for our kids here in the United States.
Guys, the rest of the show continues right now.
You're not going to want to miss it.
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