Silicon Valley’s Mass Layoff Event + Does Black History Deserve an Entire Month?
Google, Facebook, Amazon: The biggest names in tech are cutting tens of thousands of jobs. That might spark schadenfreude on the right, but Charlie explains why those layoffs should cause worry and why he believes a major crash is imminent. Plus, as we approach Black History Month, Charlie gives his argument for why a whole month focused on one race is unhelpful and even dangerous.Support the show: http://www.charliekirk.com/supportSee omnystudio.com/listener for privacy information.
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Looming Economic Collapse00:11:20
Hey, everybody.
Today on the Charlie Kirk show, we go through the latest news on the economy.
What are the five laws of economics?
Well, there's more than that, but the five that we focus on.
It's a pretty thoroughly researched episode, and somehow we get into the topic of Black History Month and made some headlines there.
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Here we go.
Charlie, what you've done is incredible here.
Maybe Charlie Kirk is on the college campus.
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Charlie Kirk's running the White House, folks.
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I believe there is an economic collapse looming.
We've been saying this for a couple months now, and unfortunately, our predictions on this program are coming true at the exact time we said they were going to happen.
We said in early 2023, we are going to see mass layoffs.
If you are employed right now, you should be thankful that you have a job because this morning, Google just announced 12,000 layoffs.
That's 6% of its global workforce.
Two days ago, Microsoft just laid off 10,000 people, 5% of its global workforce.
Amazon just laid off 18,000 people in two waves of layoffs in the first three months.
Facebook has cut 11,000 jobs, 13% of its workforce.
Now, there are less famous names.
Salesforce laid off 8,000 people.
Cisco has laid off 4,100 people.
Wayfair just laid off 1,750 people.
And of course, Elon Musk's Twitter laid off more than half of its workforce as well.
That's 65,000 well-paying, high-income jobs at just a handful of companies.
And I know a lot of you say, well, Charlie, these are tech companies.
I don't care.
And I sympathize with that as far as, you know, I hope some of these companies go under because I think they do more harm than good.
But instead, I'm talking about a broader diagnosis of the economic health or lack thereof.
That's 65,000 jobs.
They pay well in what's supposed to be the most dynamic sector in the American economy.
We are now going to see a mass unemployment crisis because we have been living through an inflation crisis and they were always telling us, well, employment is great.
Well, yeah, it's great for now until people max out their credit cards coming into the Christmas holiday New Year season, come into the new year, realize they can't pay off or service that debt.
Interest rates continue to climb and companies see the writing on the wall and mass layoffs occur.
Now, for the last couple of years, unemployment has not really been the metric or the focus of economic health.
We've kind of ignored that.
Instead, it's been GDP growth and inflation rate because we have engaged in this fictitious theory of modern monetary theory.
The modern monetary theory is that of modern monetary theory is more fantastical than Narnia and Middle-earth.
It is hoping and wishing for economic progress, engaging in the same sort of belief system that plagues our gender conversation.
The rejection of reality comes into our economic conversations.
Print unlimited money with no consequences whatsoever, and there's no downside.
It's just that easy.
You think, I'm kidding, read their literature.
You could read thousands of pages of them trying to justify MMT modern monetary theory.
It all could be summarized in: we control the printing press.
Why don't we turn it on?
Now, U.S. retail sales in December dropped the most they have in a year.
The excuse they say is, well, people did their holiday shopping in October because realtors offered deals back then.
That doesn't sound right.
That's just silly.
The spin is just going to just only heat up here.
Inflation is allegedly down to 6.5% from 9% in inflation, but they lied about the inflation rate last year.
U.S. home sales have fallen for 10 straight months, and property values are collapsing in the 10 major markets across the country.
Now, of course, all of this is in time for Republicans taking over Congress.
They timed this perfectly.
The economic collapse probably should have happened last spring, but the Fed stretched it out just enough so that there was not a massive political consequence to this economic catastrophe that we're about to live through.
According to the official numbers, the economy grew at a 3% annual rate last month.
Also, according to official estimates, unemployment is low, jobs are being added, and we're now in a labor shortage.
Now, things just don't add up.
So, the question is: does the economy feel great to you?
Of course, it doesn't, hasn't felt for a while.
We are now living through the second chapter of a multi-chapter story of what happens when you print trillions of dollars you do not have, unnecessarily lock down your entire society, engage in a multi-year sugar high infusion of artificially low interest rates, and wonder why all of a sudden the economy starts to collapse.
If you build your economy on a fake or a false foundation or a house of sand, that Potempkin village is going to collapse.
We've been saying that since the spring of 2020 on this program, three years ago, because I've actually read the economic literature and I don't live in some sort of strange utopian fantasy land like Larry Summers and these tech companies, that the lockdowns never should have happened.
Worst mistake in American history, never should have happened, worst mistake in American history.
The lockdowns had no zero epidemiological upside, and it created all these economic tremors and false signals and incorrect communication signs all across the economy, which then we created out of thin air.
And Republicans are just to blame for this as well.
Republicans voted for this.
We created $5 to $7 trillion out of thin air on top of the $4 trillion we're already spending.
We ballooned our national debt from $25 trillion to $31 trillion.
And now we are paying the price of that.
And so, look, when you get into this economic recession, we're already in a recession.
I've been saying that for a while.
I was laughed at by Wall Street people.
I remember a lunch I had two years ago in January of 2021 in Palm Beach with private equity guys that all went to Ivy League schools.
And I said, we're going to have record inflation.
They laughed at me and they said, you don't know what you're talking about.
We look at the fundamentals.
Inflation is just a construct.
It's not going to happen.
This is what they think of you.
These are the people that are in charge of hundreds of millions of dollars of funds that looked down on me and looked down on you saying inflation is not going to happen.
They actually believed it.
It really kind of goes to show the power of mass formation psychosis.
The amount of mass formation psychosis that plagued Wall Street over the last five years is remarkable.
These are people that otherwise are decent family men.
They go to church.
They're not dumb, but they truly believe that inflation would never hit the shores of America.
They believed it.
I debated them.
I said, how can you possibly say that?
And they said, well, come on.
I mean, if you just keep on growing, then the inflation doesn't matter.
This was their argument.
But now we are entering into a set of circumstances that is very troubling.
These economic waters are not going to be easy to navigate.
And these layoffs from the big tech companies are the beginning stages of canary in the coal mine, a harbinger.
And I hope I'm wrong.
I hope you cut this up and say, Charlie, we're going to mock you.
But by June, I believe our unemployment rate will be between 5% to 6%.
And boy, do I hope I am wrong.
I believe that in the next couple of months, we are going to see a bloodbath in the public markets.
I believe you're going to see capital calls happen.
You're going to see people not be able to service the debt on mass construction projects.
And you're going to see that unemployment rate tick up and tick up and tick up, all in time for what will be a very expensive summer.
And now the comparison people say is, well, this is like Jimmy Carter stagflation.
I think it's different.
It's slow-motion crashflation.
The economy is going to crater in real time, but slower than a 2008-type Lehman Brothers collapse.
It's not going to be like an overnight, wow, we need to, the market loses 30% in the span of eight days.
If I remember correctly, in September, October in 2007, 2008, it just collapsed.
It was like 30% of the market disappeared within a span of two weeks when these investment banks suddenly collapsed.
By the way, Goldman Sachs has completely laid off.
Not completely laid off.
They laid off thousands of workers.
This is from Goldman Sachs.
This is on social media.
It says, someone from Goldman Sachs sent this message.
The entire institutional sales floor was laid off yesterday.
The music is about to stop, be ready.
We've been saying this for a while.
We get laughed at.
We get, you know, people say, oh, Charlie, the economy is just fine.
But you go to this show to get the truth.
I'm telling you, there's a bloodbath coming.
I hope you guys are ready.
I hope you don't have a lot of debt.
I pray that you guys have not maxed out your credit cards.
I pray you did not take out a mortgage you couldn't afford because the music's about to stop and there's going to be blood in the streets metaphorically.
I work in institutional sales, Goldman Sachs, entire floor laid off today.
Partner held a meeting saying the music's about to stop.
Please keep anonymous.
You better believe that that knife is about to fall.
So what does that mean?
That means that our leaders are going to be left with a set of choices.
And I'm going to walk you through what those choices are.
They could make mature choices, such as cutting spending and going through an austerity chapter and actually going through some shrinking and tightening of the belt.
Or they could lean in and double and triple and quadruple down on the very behavior that got us into this because they're afraid of actually having to face the music and making appropriate and mature decisions that long term could result in the fiscal well-being insolvency of our country.
They might actually recommend publicly a great reset.
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I want to hear from you.
The Euro Is Trash00:07:09
What do you feel economically?
What are the pressures you're seeing?
What businesses are you in?
How are you prepared for what is coming next?
You might say, oh, Charlie, come on.
We got an email here.
Charlie, I don't think the collapse is going to be that bad.
I think it's overhyped.
You might believe that.
I have no idea the severity of it, but there is something happening.
You have to look at reality.
You can't wish yourself into economic prosperity.
It's not possible, especially with all these different signals and indicators.
So what now?
What is the path forward?
The World Economic Forum, the people that are in Davos, that is concluded in Davos, they are very clear that they, and they've said this for a while, they want a currency reset.
But in order to reset something, you must first break it.
I believe we are living through the beginning and the initial stages of them trying to break the Western established order of private property, of a strong currency.
Specifically, what has been the two strongest currencies over the last 100 years is the British pound and the American dollar.
They work in harmony together.
Those have been the reserve currencies of the Western world and, quite honestly, the developed world and the civilized world over the last couple hundred years.
They're the only two major currencies that have not gone through a currency reset in the last 100 years.
The Euro is trash.
The Euro has been trash for a while.
The Euro is, I believe, a currency that is just waiting to be totally and completely destabilized.
We can go through the reason for that.
The Euro basically just should be the, it just should be called the Deutsch, the Deutsche.
Is that the mark?
They used to call the German currency, Blake would know, used to be called the mark.
They used to call it, not anymore, but they're obviously the Deutschmark.
That's right.
And they're obviously now on the Euro, which is all supported by German engineering, precision, work ethic, and focus.
And the German economy is one to marvel at.
It's amazing.
But look, the Euro is basically a German plot to dominate the continent.
It's not a quest for benevolency.
The Euro was basically another German conquest to be able to take over Europe.
It's hilarious.
Because Spain and Portugal and Greece, which are obviously not as productive economies, wonderful people, actually really fun countries to visit.
Love Spain, love Greece.
In a really weird way, Germany, yes, is being punished for how they behaved in World War II, but in the same way they're being told, why don't you just take over the entire European continent?
Anyway, so that's a little bit of a sidebar.
The Euro and the dollar, the two, not the Euro, I'm sorry, the pound and the dollar are the two that have not gone through a currency reset or a currency recalibration.
They've just been deteriorated through mass modern monetary theory and fiscal stimulus and the easing of quantitative pressures, otherwise known as quantitative easing.
So what does that mean?
That means our leaders can do a couple things.
And by the way, what I love about it, I could talk about economics all day long.
We don't do it that much on this program because there's other news.
And quite honestly, it's just so obvious.
It's so common sense.
And the buffoons on television on CNBC overcomplicate this stuff because I think they're very corrupt and they're very prideful.
You could just read Henry Hazlitt's book, Economics in One Lesson.
I highly recommend it.
It's very simple.
It's like this big.
We give it out at Turning Point USA chapter meetings.
It's so simple.
And it just goes through economic laws, which is people respond to incentives.
Private property is necessary for freedom.
You can't print wealth.
Very, very simple stuff, right?
And so if you understand these laws of economics the same way that you understand the laws of gravity, the laws of thermodynamics, you understand the laws of Newtonian physics, right?
An object at rest will stay at rest.
For every action, there's even an opposite reaction.
Force equals mass times acceleration.
And guess what?
You can't print wealth if you just turn on a printing press.
All these things work in harmony.
If you believe in a creator, you believe we are the creation, then therefore you believe that there are laws to all of our conduct, conduct, and our behavior.
And yes, those laws, those natural laws, as it would be called in the Catholic tradition more specifically, apply to economics.
And look, so economics try to make it seem like their work is insanely complicated, but 90% of the best wisdom can be learned by a high schooler.
And honestly, I talk to carpenters and plumbers.
I talk to taxi drivers.
They understand economics far better than Paul Krugman.
Paul Krugman is an idiot.
And I don't use that word lightly.
I know people that say, Charlie, be more complicated than that.
No, Paul Krugman is a buffoon.
He has been wrong about everything.
I've read his books.
He is a, he's a Keynesian.
He believes in, he's never actually, I have to say this.
Paul Krugman is, And I know this might sound to be an argument from authority and ad hominem, but Paul Krugman, not having actually worked, to the best of my knowledge, running a business, having to make a payroll, he's so academic.
He's so focused on economic abstractions, the guy's been wrong about everything.
I mean, you can go back to his, go find the tweet.
I have it logged in my memory.
Maybe it was memory hold.
2000 and December, here we go.
2000, December, 2016, predicting the stock market would crash because Donald Trump was president.
Go find the tweet.
This is a guy that allegedly won the Nobel Prize.
His AP economics textbook is all over high school classrooms.
He said the internet would be no bigger than the fax machine.
This guy's a buffoon, and he has been for a while.
Yep, that's it.
Thank you.
I think I got the date right too.
Yeah, I was off by a month.
November of 2016.
Paul Krugman, Trump will bring global recession.
Yeah, the exact opposite happened.
These are the people that make it seem so complicated.
You have to have all these degrees.
Economics is rooted in the natural law.
If you understand basic economic principles, you can apply them to macro trends.
Hey, everybody, Charlie Kirk here.
2022 is history.
But have you thought about what you'll do in 2023, how you'll make it better than last year?
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We got an email here.
Charlie, I made the fortunate move to southern Cal Florida to southern Florida, sunny southern Florida, seven years ago.
I've been able to save 30% more in my income each year since doing so.
I lost my IT job at Dell, but quickly landed a new career.
I spent hours every day fighting to land a new job, knowing the tsunami you're talking about was coming.
My advice to everyone is migrate down to Florida.
Just ordered my new t-shirt, Florida America's Freedom Zone.
Celebrate Entrepreneurs Instead00:14:15
Now, there is some wisdom to that.
I mean, it's biblical.
What's the first thing that God said to Abram?
Go from your country, your people, and your father's household to the land I will show you.
The lesson that the Torah is trying to teach there, in my personal opinion, is you got to be willing to move.
That's it.
You got to be willing to move if you think that it will be beneficial to you and not just be tied to your land just for pride or for certain other reasons.
With that being said, though, I do not think it's economically, culturally healthy to continually tell people you got to move for the sake of moving.
I've said for a while, if I could still live in Chicago, I would.
It was just untenable in more ways than one.
Okay, so look, there's five basic laws of economics that I repeat.
And there's also three ways to describe capitalism at its best.
It's the three P's.
I use that almost every speech that this comes up with, which is prices, profit, and private property.
Those three things can best explain free market capitalism.
At those threes, you do not have them.
You need a price system, which is how people communicate with each other without ever opening their mouth.
Prices are how we communicate value.
You need private property.
This is mine.
This is not yours.
And profit.
If you are not able to turn a profit, then why would anyone do anything?
Incentives, incentives, incentives, incentives are the overarching theme of economics.
Economics is the project of trying to address scarcity.
You must acknowledge before you get into any economic debate or argument or conversation that the world, by definition, is scarce.
Our time is scarce.
Our resources are scarce.
And so here are five laws.
Very simple.
This is not an exhaustive list.
Our leaders do not acknowledge these.
In fact, they're at war with these laws.
That sounds very similar to other non-economic-related topics, doesn't it?
At laws with war with the laws of nature?
Huh.
When it comes to gender, when it comes to how we raise our children, when it comes to borders.
Seems as if our elites and our rulers, they are doing everything they can to resist those pesky shackles of reality.
Okay, five laws.
Money is not wealth.
Very simple.
Just pieces of paper are not wealth.
Wealth is the creation of value.
You might say, well, Charlie, what is valuable?
The people have to largely decide that.
That's why markets are the best system.
Are there problems in markets?
Of course.
I'm not a puritanical market person, by the way.
I believe that certain externalities need to be focused on and dealt with.
I believe that markets can create externalities that are really bad and damaging.
You might say, Charlie, give me an example of that.
I don't think it's a good thing that people are on the antidepressants that they're on and that are on back pain medication that turns into drug addiction.
I don't think it's a good thing we went from 50,000 drug overdoses in 2017 to 105,000 drug overdoses five years later.
If markets are creating negative and disturbing trends, we must be willing to have the courage and the political power to come together and say that's not good.
It's not making a more virtuous society.
It's not helping children be raised.
But largely, markets do point us towards something that is, I don't want to say virtuous, but at least is livable, right?
For example, the sex market is evil.
It commoditizes people.
Again, that's another example of a bad market.
Those are externalities that a pure libertarian would say, who are we to judge?
Why would we shut it down?
I, as a conservative, I say, no, no, no, no.
There are externalities that are created sometimes in markets, and we should be willing to address them for the well-being of children, families, virtue, goodness, and beauty.
Okay, money is not wealth.
Number two, this is so simple.
This is, and by the way, this is something that almost every supply-side Republican that we call neoliberals, I can agree with them on.
Only production creates wealth.
You need to produce something.
And if I could have like a subset to this economic law, you need entrepreneurs to create something.
Government bureaucrats create nothing.
They only destroy.
When was the last time I heard or you heard a leader talk about the necessity of entrepreneurs?
You know, entrepreneur is one of the few words that has an 85 to 90% approval rating.
Everyone loves the story of an entrepreneur.
The lower income single mom that decides to start a business or the restaurateur or the family that comes to America and starts a laundromat.
That's fundamentally American.
It's in our DNA.
We should celebrate that more.
In fact, not only should we celebrate it, it is necessary to the vitality of our nation.
And this, again, this is just a complaint against the GOP in general.
Instead of having gay month and black month, why don't we have entrepreneur month?
I'm being perfectly honest.
I would love to participate in a month where we celebrate entrepreneurs instead of gay pride at NHL time and black history this.
Completely irrelevant, I'll be honest, compared to what should be colorblind entrepreneurialism.
Those are damaging identity politics when we should talk about lifting people up, production, taking risk, waking up early and going to bed late.
Those are beautiful things.
It's fundamentally American.
I love entrepreneurs.
I love learning from entrepreneurs.
I had dinner with an entrepreneur last night.
Love learning about their business.
It's fascinating to me.
And not everyone is cut out to be an entrepreneur.
Some people want to be an employee, and that's okay.
It's a beautiful thing to want to work for somebody, too.
But work is also a good thing.
The Bible talks about this a lot.
There's this whole anti-work crusade that I think is really damaging to our soul.
Work should not be everything, by the way, at all.
I actually would, you know, people say, Charlie, if you were running, again, this is, now we're getting into some radical stuff.
They'd say, Charlie, if you were running the Republican Party, what do you think they should run on?
I think we should run on national blue laws.
I think that the Republican Party should make it in their platform that the whole country shuts down for a day.
And guess what?
I believe a lot of millennials in Gen Z would love it.
I think we should bring back a full hard stop, Shabbos, Shabbos, or Shabbat.
Stop.
Friday night to Saturday night outside of emergency medical services and 24-hour Walgreens and grocery stores.
I think the whole country should shut down for the well-being of our mental health, our spiritual health.
Families would bind together.
I think we should do it by government decree.
And people say, oh, come on, Charlie, that's not very free market of you.
Yes and no.
Remember, markets should point towards virtue.
And I think bringing back this idea of a national stop.
Let me ask you a question.
Do you think if we actually did that, do you think that suicides would go up, stay the same, or go down?
Do you think drug overdoses would go up, stay the same, or go down?
I'm a big believer in national blue laws.
Anyway, that's a contrarian opinion.
People say, where am I going to go shopping?
You're not actually.
You actually got to go read a book or walk in a park or do something that actually gives your soul life.
Not, I need to go to Neiman Marcus and get the latest belt or purse or whatever.
Yeah, you can do that the next day.
Sorry.
Okay.
And just to be clear, I don't believe Black History Month is worth the kind of full month that it is at all.
And by the way, the way they do it is very BLM-centric and all that.
If they were talking about Clarence Thomas and Frederick Douglass, okay, I could probably get along with that.
But let me be very clear: Black History Month is not what they say it is.
It has become captured by the BLM agenda of race-based discrimination.
I would love to talk about Madam C.J. Walker, the first self-made female millionaire in the United States.
But also, I do not believe in having a whole month, by the way, she was black, a whole month dedicated to a race.
I just find that really damaging.
It's self-defeating.
Doesn't make any sense to me.
I don't like it.
Okay.
Next law of economics: production always has a cost.
There is no such thing as a free lunch.
Pretty simple.
Milton Freeman wrote a whole book about this.
There is no such thing as a free lunch.
What is the price?
Fourth thing: people respond to incentives.
Incentives are what drive human behavior.
The price system, all these different things, people respond to incentives in that way.
And by the way, that's what's driving the border crisis.
Free benefits.
I can have amnesty or I won't get deported.
Finally, prices are the most efficient way to communicate value.
Price controls create shortages.
That's a general truth, meaning there are some exceptions to that.
So these are five laws our leaders deny.
They talk about climate deniers and they live in, oh, yeah, these people are conspiracy theorists.
You know what the conspiracy theorists are?
The conspiracy theorist is Janet Yellen.
Janet Yellen's a conspiracy theorist.
She doesn't acknowledge most of these laws.
Money is not wealth.
Only production creates wealth.
Production always has a cost.
There's no such thing as a free lunch.
People respond to incentives and prices are the most efficient way to communicate value.
Price controls create shortages.
And I'd love your thoughts.
Would you guys prefer to have Black Month and Gay Month or Entrepreneur Month?
I would love to celebrate entrepreneurs of all colors and backgrounds, including black entrepreneurs.
And let me ask you a question: the more we've emphasized Black Month in February, has it healed any national racial trauma or only deepened national racial trauma?
That's a legitimate question.
I don't know.
Charlie, Entrepreneur Exists, a month that exists.
It's in November.
I watch the show Shark Tank all the time, and that's how I know about it.
Okay, I stand corrected.
I guess there is Entrepreneur Month.
Okay, does that get the same focus as Pride Month and Black Month?
No, that's a legitimate question.
I've never heard about it.
And I also want to make sure my position is clear on this because I'm sure Media Matters and all these people are there.
I would love to live in America where we don't talk about race all the time.
Focusing on the premise that race matters, which is what Black Month does, and I don't think race matters at all, I think actually only deepens any sort of racial wounds and creates more bigotry.
I'd love to live in a colorblind society.
That was MLK's dream.
Why is it we're still focusing about race?
The March for Life is amazing.
If you guys have never been, Maureen Bannon, if you want hope for the future of America, I encourage you guys to go to the March for Life at least once in your life.
It is moving.
It's powerful.
I went a couple years ago.
I'm trying to think when I went.
I think I went in 2020, I want to say.
Donald Trump was the first president to attend.
And let me just say, I am a little bit upset at some pro-life leaders that are attacking Trump on certain things.
Without Donald Trump, we would not have been able to reverse Roe versus Wade.
It's the 50th anniversary of the March for Life, and Donald Trump deserves a lot of credit.
Kavanaugh, Amy Coney, Barrett, Neil Gorsuch, very important.
And as you know, in this program, we are 100% pro-life.
We own it.
And we get a lot of angry messages and emails and death threats because of our pro-life stance here.
Someone says here, Charlie, I am behind you on Entrepreneur Month.
Gay Pride is a ridiculous event.
And Black history is American history, so I'm against Black History Month.
Yeah, I mean, look, if February is American History Month and we incorporated it, incorporated the story of Black America within that, then fine, that's great.
But having a whole month focus on a race is just damaging.
Yeah, and by the way, of course, and people say, Charlie, you're whitewashing history.
No, actually, I want to tell the proper story of American history.
For example, what's one thing every human being has in common?
You're born into a world you did not create with values you did not choose, with leaders you did not select.
So therefore, you must judge somebody based on the time and the circumstance that they're born into.
The founding fathers were born into a world where slavery was ubiquitous, and they entered a world where slavery was on its way out.
That is a moral good for society.
It's a transformational service.
From Wilberforce to even the private writings of Jefferson, to the actions of Washington, to the incredible abolitionist courageous efforts of John Quincy Adams, who ran for Congress just to be able to get back into the halls of Congress after being president, one-term president, Andrew Jackson, came after him to be able to fight for the abolition of slavery.
In fact, Quincy Adams, who's such a passionate defender, I believe he submitted a bill for abolition every single day of the House.
They had to institute a special rule to say you can't continue to introduce a bill every single day.
Here's Morgan Freeman.
Does he agree with us?
Black History Month?
His thought?
Play Cut 114.
Black History Month, you find ridiculous.
Why?
You're going to relegate my history to a month?
Oh, come on.
What do you do with yours?
Which month is White History Month?
Well, come on.
Tell me.
I'm Jewish.
Okay, which month is Jewish History Month?
There isn't one.
Oh, oh, why not?
Do you want one?
No, no, no.
I don't either.
I don't want a Black History Month.
Black history is American history.
How are we going to get rid of racism and stop talking about it?
I'm going to stop calling you a white man.
Yeah.
And I'm going to ask you to stop calling me a black man.
As a famous prosecutor would say, I rest my case.
Charlie, both my husband and I don't recognize Black History Month.
All nationalities have been mistreated.
The Irish Calent so ridiculous.
Gay Pride Month, not necessary.
Have you seen what they do at these parades?
Disgusting.
Recognize people for their accomplishments and kindness, not their skin or sexual preferences.
Debbie, you are a wise person.
God bless you.
Someone says, Charlie, I have a PhD in monetary economics.
It's difficult for me to watch you talk about modern monetary theory.
I don't believe the Fed uses the word in the context of monetary policy.
Fed Balance Sheets Hidden00:01:07
Here's what I believe are the big three: maintaining on its bloated balance sheet and extraordinary amounts of treasury obligations and debts.
I agree with that.
Special credit facilities that allow the Fed to directly intervene as a lender in areas of liquidity.
I agree with that.
Permanently living off treasury debts north of $30 trillion in growing by the day, as far as I can tell.
What you call modern monetary theory is what the Fed labels as the normalization of monetary theory and revolves around the three things I've identified above.
This is not the end of the story.
Did I mention that several months ago?
The Fed issued a policy paper expressing its commitment to implementing ESG, but that's for another day.
I don't disagree with a lot of that.
It's more semantic disagreement than actual policy disagreement.
By the way, the Fed has not published their balance sheets.
Once M3 began, post-08, we do not know the amount of dollar bills in circulation.
We have an approximation, but we do, there's something like 60% of all dollar bills ever created were created in the last 18 months.
Blake can get that exact number, but it's an extraordinary figure.
Thanks so much for listening, everybody.
Email me your thoughts as always, freedom at charliekirk.com.
Thank you so much for listening, and God bless.
For more on many of these stories and news you can trust, go to CharlieKirk.com.