An Embarrassing Opening Night For the Democrats (Ep 1325)
In this episode, I address the disastrous opening night of the Democratic National Convention, and the real story behind the ridiculous Michelle Obama speech. I also address predictions about what’s next for the economy and the stock market in the coming months. Finally, I discuss AOC’s latest, economically-backward, suggestion.
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So the Obamas are so excited about a Joe Biden presidency.
That there was a glaring omission from Michelle Obama's widely lauded speech last night.
The media loved it, but there was a big omission.
The media, of course, said it was Michelle Obama.
No matter what she said, they would have loved it.
She could have read word for word from a 1940s poetry book and would have been like, it's the greatest thing ever!
But did you notice Kamala Harris's name didn't come up?
Why?
I'm gonna get to that in the show today because it just speaks to how unexcited the Obamas are about a Biden presidency.
I got that.
I've got a video by AOC, which is peak AOC, but it's important because it speaks to the Democrats' regressive politics.
They want to go back to the horse and buggy.
I've also got the situation going on in California, which is really serious with their power grid, but shows you again why socialist states or soon-to-be socialist states like California can't handle anything.
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Welcome to the Dan Bongino Show.
Producer Joe, how are you today after that disastrous opening night of the Democratic National Convention last night?
Well, I'm doing pretty well, you know, and glad to be here.
Did you watch any of that, by the way?
Any of that mess?
Just a little bit of it.
Just very little bit of it.
I went to... Yeah, yeah, me too.
About as little as possible.
About as little so that I could comment on it responsibly for our show today, and then I turned it right off.
What were we watching?
I think we were watching, like, Below Deck Med or something like that, just to get out of it.
So what were we watching?
No, no, The Scam Show.
Right, right, the show about the scam.
Yeah, because it was that bad.
The show about the scams.
But I just said that I watched the DNC.
Which show about scams?
I was an unintentional horrible joke.
I'm watching the show about scams.
Yeah, you just said you're watching the DNC.
No, the other show, American Green.
That show, same thing though.
All right, let's get right to it.
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All right, Joe, let's go.
By the way, on a side note, I may be getting my nose fixed soon because many of you have noticed during the show, I'm constantly like breathing funny.
I can't breathe anymore through the left side of my nose at all.
I had it broken badly when I was boxing and trying to...
Be like an MMA guy, which wasn't really working out too well for me.
My brother broke it during a sparring session.
Bad.
Remember that, Paula?
Flattened the blood everywhere.
It was really gross.
So I can barely breathe.
So I'm hoping my doctor friend who watched the show can hook me up.
I'm telling you, I can barely sleep anymore either because I can barely breathe through the left side of my nose.
So compressed.
I had it fixed once and it didn't do any good.
Just throwing it in.
Alright, so last night was the opening night of the disastrous Democratic National Convention.
What a joke.
I mean, what a total mess.
This thing... I'm sorry, it was a disaster.
Even...
Partisan political commentators, but who give pretty sober analysis.
I don't want to say like non-passionate, but guys like Guy Benson on Fox, who's a Republican, but Guy doesn't get into like a lot of hysterics and theatrics.
He's a pretty sober analyst.
I saw him on Fox and, uh, was it a Fox and Friends or the new show this morning?
And he was like, listen, it was just kind of like a bus, like the energy's low.
And, and, and listen, to be fair, it's kind of hard to do a convention without a convention.
I mean, everything was done, looked like a big zoom conference.
So it was bad, but there's a real benefit here to the Republicans going second, and that's that they're going to be able to see this new convention.
It's like a Zoom convention because there's no in-person or relatively few in-person activities, and they're going to be able to correct the mistakes.
The energy was low.
Obviously, I'm a partisan here, so I'm not even trying.
Uh, to be objective.
But if I was trying, it was just a bad performance.
The speeches were dull.
They were dopey.
You had total losers like John Kasich, fake Republican, former governor of Ohio and congressman.
John Kasich, who was...
I'm, you know, like Republican, Dan.
It was the Democratic National Convention.
Kasich, who's a total loser, who has never, seriously, he's one of the most unlike guys in Republican politics.
Kasich got blown out by Trump in the Republican primary when he was running for president, never got over, never got over.
So he decided to give some dopey speech last night about, we're at a crossroads.
And Joe, very clever.
He was standing at a crossroad in a road when he did it.
I'm not kidding.
I'm not even going to show you.
His speech was so stupid.
He was literally, look, look, I'm at a crossroad.
Wow.
Look, camera, crossroad.
There's a genius, bold, decisive at a crossroad.
So Kasich was giving, we're at a crossroads, don't vote for Donald Trump.
But here was John Kasich at the Republican National Convention years ago, talking about the guy he supposedly now loves, Joe Biden.
Check this short one out.
This is great.
But Joe Biden told me that he was a good golfer.
and I played golf with Joe Biden, I can tell you that's not true, as well as all the other things
that he says. Did the dipsy do? Did the flip-a-rooskie? You know the dipsy do flip-a-rooskie?
Yeah, 180, 185, 20, 740, 980, whatever. K6, this guy's a total front.
And I, what I don't get about this is having a bunch of Republican swamp rats, Meg Whitman, Christy Todd Whitman, John Kasich, Susan Molinari, a bunch of deep Republican swamp rats who have been swimming in the Republican DC swamp or local political swamp forever.
Speaking at the Democrat convention against Donald Trump.
Serious question, Joe, how does this hurt Trump?
Who's constantly running as outside of the traditional two-party model.
He is!
He's run a largely populist campaign, which some things I disagree with, a lot I do.
But he's running as, I am not a subject of this two party model that's failed you for decades.
Is he not?
Is that not Trump's theme?
Is that right?
I'm not missing this, right?
Joe is a normal everyday voter who, you know, I mean, I know you're not a politician, right?
Right.
That's always been.
So how does this, I don't, I really don't get how John Kasich thinks he's not making Trump's point.
Let's trot out a bunch of Republican swamp rats at the Democrat national convention.
To speak out against Trump and endorse Biden.
We got him now!
Good one.
And let's try it out again.
Put him at a crossroad.
Joe, he's at a crossroad.
He's at an actual road that has a crossroad in it.
Joe, crossroad.
He's at a crossroad.
Put him at a crossroad because it's so clever.
It is.
And let's hope everybody forgets the video of John Kasich calling Joe Biden a big liar at the last committee.
Let's forget that.
All right, let's go to this one.
Such a clown show.
It really was.
I know, I know.
I'm not objective.
I'm seriously, like, trying a little bit, and it was so boring.
And I'm a political commentator.
I couldn't watch it.
And then Eva Longoria, the Hollywood crowd comes out.
Yeah, we're gonna all vote Democrat.
It's so wonderful.
This is like 2016 all over again.
Don't visit any of the swing states.
Trot out the Hollywood crowd.
Bore people to death and call everybody a racist.
That worked out very well for the Democrats in 2016.
So, here's Michelle Obama.
I want you to listen to just a quick clip here because the media loves it.
Transformative.
Epic.
Otherworldly.
God-like figure.
Small g Michelle Obama.
The media's going crazy.
Her speech, the speech seriously was boring.
It had a couple of high notes in it.
It was boring.
It was just boring.
There was nothing epic about it, but the media loves it because it's Michelle Obama.
Doing my due diligence, here's a short clip.
I'm sorry to subject you to this, but I want you to know, you're not going to hear any mention of Kamala Harris in this short clip, and you're not going to hear a mention of Kamala Harris anywhere in Michelle Obama's speech if you go back and listen to the whole thing.
I'm going to explain to you why in a minute.
Remember, they're so excited, Joe.
They're so excited about Biden.
Everyone, John Kasich.
Joe, he was at a crossroad, at a road, at an actual crossroad.
Did you catch that?
So clever.
That's way above me now.
You guys are good.
Me too.
It was so brilliant.
It was so brilliant.
I didn't even get the symbol and I was like, wow, so symbolic.
So they're so excited, Kasich and Michelle Obama, about Biden that she did this.
Check this out.
You know, Joe, he is a profoundly decent man guided by faith.
He was a terrific vice president.
He knows what it takes to rescue an economy, beat back a pandemic, and lead our country.
And he listens.
He will tell the truth and trust science.
He will make smart plans and manage a good team.
And he will govern as someone who's lived a life that the rest of us can recognize.
Whoa!
That was my own muttly!
What?
It was good.
What?
That was, almost sounded like muttly there.
Do you have muttly?
How does that muttly compare to my muttly?
Let's see, where's muttly?
Here we go.
I'm just checking.
It's pretty close!
That was pretty close!
Well, no, no, no, that was funny.
No, no, no.
That was, she hates Muttley, Paula.
Paula hates Muttley.
This is a big controversy on my show for years.
Many of you older listeners know, Paula hates Muttley like there's no tomorrow.
That actually sounded like Muttley.
So let's break that 30 second clip down.
Cause I can't subject you to any more of the absurdities.
Okay.
The speech was really, it was boring and I'm not going to lose my audience, but just a couple of things.
Joe's a man of faith.
He is.
I'm just curious.
Listen, I'm a sinner like all of us are.
But a man of faith who supports, what, late-term abortion?
I'm just checking.
I don't know where that is in the Catholic Christian faith doctrine.
He claims to be a man of faith.
I'm just checking.
I don't remember that one in church last weekend.
Yeah, pretty sure that wasn't there.
So I think we can scrap the man of faith.
He is a man who will seek out a quick buck for him and his family, though, as you can tell by Hunter Biden's sweetheart deals and other family members who've gotten sweetheart deals in foreign countries, many of whom are enemies of the United States.
He has faith!
Faith in the almighty dollar.
That Joe definitely has faith.
Now, faith in a higher being, a capital G God, I'm not so sure about, given that he doesn't really practice anything he preaches.
Second point she makes, which is on a hilarity scale, a 9.72 out of 10.
Joe Biden knows how to rescue the economy.
He knows how to rescue his economy by getting his son sweetheart deals in China, sweetheart deals in Ukraine, having prosecutors looking into the sweetheart deals fired.
He definitely knows how to rescue his own personal economic situation.
How to rescue an economy?
Did Michelle Obama forget that her husband, in conjunction with the hapless Joe Biden, We're in charge when the worst recovery based on GDP growth, the standard metric for an economy in American history, happened from a recession.
The worst recovery from a recession in American history was her husband and Joe Biden.
He knows how to rescue an economy.
His own knows how to rescue an economy.
Where did she get that?
Who wrote that dopey line for her?
Even worse, He knows how to respond to a pandemic.
You mean when they blew it on the Ebola crisis?
And during the H1N1 crisis when he was like yanked off the stage for giving a speech where he told everybody not to get on planes and the Obama administration freaked out on him?
You mean that one?
Or you mean the one where they depleted all the personal protective equipment and never replaced it and handed Trump a bunch of empty coffers with no face masks to respond to?
You mean that one?
Of course, Michelle Obama knows the media's gonna celebrate her speech, so she can lie about Biden all she wants, because no one's actually gonna fact-check her.
Especially, like, you know, Facebook and the other fact-checkers.
Finally, he listens.
He listens.
He listens to it, and he tells the truth.
He listens.
That's hilarious.
He tells the truth.
You mean this is the guy who plagiarized Neil Kinnick's speech, who told you he graduated at the top of his class despite being at the bottom of his class?
The guy who said what?
He had two degrees.
He did not have two degrees.
I'd play that Media Research Center clip again, but we've burned it so many times.
I think it's losing its luster.
Joe Biden never tells the truth about anything.
Joe Biden now is incapable of telling the truth because he doesn't remember what the truth is or what he said five minutes ago, so he can't repeat what he said five minutes ago because he doesn't remember.
Now, before I move on, the final portion of this.
Why did she not mention Kamala Harris?
It is Joe Biden's selection for vice presidential candidate here on the Democratic ticket.
Why not?
Why not mention her?
Kamala Harris is a friend of the Obama family.
Well, I'm hearing it happen because Michelle Obama taped this.
Taped the speech before Kamala Harris was selected.
So they love Uncle Joe.
Lunchbucket Joe.
Scranton Kid.
The Scranton Kid.
You know, like an old boxer name.
Maybe he's an MMA guy.
He'll come into the ring.
He's a big guard player in MMA.
Just Scranton Kid, Joe Biden.
They love him so much that they taped it and didn't even bother to, like, recut it.
After Kamala Harris was picked.
Don't interrupt my yoga schedule!
Michelle Obama's like, listen, hold on, let me check my schedule.
Let me go to my calendar here.
Calendar app, yeah, pulling that up.
Let me see, do I have an open day?
No, no, no, let me scroll through.
No, no, sorry guys, I can fit you in.
On Tuesday between 2.30 and 2.45, send a camera crew to my house.
Hey, we picked Kamala Harris.
Can you recut a line or two?
Maybe wear the same?
No, no, no.
I'm not even going to bother, dude.
I don't want you to get into my busy coffee cloud schedule.
I got an appointment over there with my friends at Starbucks.
This is how much they love the Scranton kid, Joe, the Scranton kid.
This is how much they love Joe Biden, who's honest and listens and is great on the economy and is captain pandemic response.
That's how much they love him.
They taped it weeks ago.
Loves Joe.
And he listens.
Maybe you should have listened to Joe's team when they asked you to recut it after Kamala Harris was selected as the vice president.
I'm just throwing that out there.
Small possibility.
Maybe you should have done that.
Ugh, man.
All right, I want to get to this AOC thing.
I know, I know.
I always get the feedback off AOC.
I get it.
I totally get it.
Many of you... I hit my calendar button.
It's fine.
I didn't realize I had a call today at four.
I'm going to remember that.
I forget.
I got to like set alarms for myself.
By the middle of the day, I'm like passed out.
But I'll always get emails when I do it.
Dan, don't highlight AOC.
No, folks, we have to.
Because you can't let this stuff ride under the current.
Oh, ignore her.
She'll go away.
They won't go away.
All four members of the squad just won their primaries.
They're not going away anytime soon.
The only way to fight back is to confront their really stupid ideas and use the Alinsky tactics against them, which is to humiliate their really stupid ideas.
It's important.
I'll get to that in a second.
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So AOC is back!
He's back!
I'm not going to use any analogies here because they'd be awful and I'd wind up just getting myself in trouble.
But she is back.
She put out a video, I don't know, on one of her social media accounts.
I don't even know which one it was, but someone sent it to me.
And AOC has another idea.
Remember, she's got an economics degree.
Not really sure how that happened, but whatever.
So here's AOC.
She has an idea, Joe, on how to save the post office.
I guess she used her economics degree for this one.
You know economics about using scarce resources efficiently, getting society to move and allocate scarce resources efficiently.
The whole idea behind economics.
How do we make more medicine, more medicine, better?
How do we make vehicles more efficient, better priced?
You know, that kind of thing.
But here's her idea about how to save.
This is just classic.
I got some other ideas after this one to propose to AOC too, after this genius idea.
Check this out.
Hello, everyone.
I have been thinking about ways to help you help the post office.
And I think I've got an idea and I'm interested in hearing your thoughts.
So one of the best ways to support the post office is to buy stamps.
What do you all think?
Would you guys be down and excited if I set up a national progressive pen pal program Would you guys be down?
I love this, by the way.
Would you be down?
Like, let me show you, man.
I'm so cool.
Are you down?
You down with the pro?
You down?
postcard format, you just send it out. Would you guys be down? Do you like that idea?
I love this, by the way. Would you be down? Like, let me show you, man. I'm so cool. Are you down?
You down with the pro? You down? Oh. So yes, AOC has an economics degree.
She wants you to start writing letters again.
I know.
I know.
I'm sorry.
I get it.
I get it.
I know.
I know.
Some of you are like, get me that neuroprotective brain supplement because I got 10 IQ points dumber just listening to that.
Folks, there's a reason we don't write letters anymore to people largely using stamps.
Because, Joe, wait for it!
What is it?
Wait for it!
Calm your nerves.
Sit back.
Wait for it.
We have a new technology.
Stand by.
Stand easy.
Do not get excited.
You may not have heard of this, Joe.
Yeah.
It's called email.
Email?
Oh my gosh, I almost forgot about that!
Yeah!
That thing once in a while in the morning I send clips on you on?
Is that what that is?
I can't do the show.
I can't do this.
I can't take this anymore.
So, just to be clear, AOC, who supposedly has a degree in economics, where we're supposed to be looking for efficiencies, how to decrease inputs and increase outputs, you know, that kind of thing they teach you in economics?
She wants the turn back time.
So she wants you to pay.
I had to take some notes on this because I want to be sure.
I'm sorry.
I'm legit crying.
I'm legit crying right now.
Oh, give me a second.
I gotta take a second to your door.
Really?
As I go to my computer, but I do it because I need to take a second to gather my thoughts here.
So just to be clear, what she wants, she wants you to pen pallors.
To go out and write letters to each other.
She wants you to pay for communications that are now free.
Model of efficiency, Joe.
So you can communicate for e-mail.
E-mail.
Computer.
Phone.
Tablet.
iPad.
Thingy.
The way Joe and I and Paula and Drew produced the show, electronic communication.
She wants you to pay to communicate with your Penn Power socialist friends using a technology from 20 years ago, a pen and a paper and a stamp that you can do for free now.
It should generate trillions, yeah.
Yes, dude.
It's hilarious.
She wants you to waste your money.
It gets worse.
To pay for something that is currently free.
Sounds like a model of economic efficiency to me.
Please turn in your degree stat.
Secondly, So let me underline.
First, pay.
Pay for something that's free.
She's a real genius, this woman.
Secondly, she wants you to wait for a service that's now instantaneous.
Email, send, instantly.
She wants you to wait weeks to hear back from someone you can hear back from in seconds via the snail mail system that nobody uses anymore because they don't want to wait.
I've got an idea.
I've got an idea.
AOC, this is just, I do have other ideas, but this idea just came out of the blue right now on the show.
Extemporaneous thought.
I've got an idea.
AOC, lead the way on this because you're a brilliant economist, of course.
I want you, your next campaign, to lead from the front and run it exclusively by snail mail.
I want that.
The AOC pledge.
I pledge to run my campaign exclusively by snail mail.
Of course she won't do it, because it would be idiotic.
Because she would be spending money on input she doesn't need to spend money on, on an
output mail that has a wait time she doesn't need to wait for because she could have used
email for free.
Oh.
Finally.
So pay for something you don't have to, wait for something you don't have to, and waste your time using equipment that you don't need to use, i.e.
a pen.
Do we have any envelopes?
No, no envelopes here.
I do have stamps though.
Stamps, a pen, envelopes, and licky, licky envelope.
Lick the envelope.
That's what my mother-in-law always says to the dogs.
The dogs come over.
They always lick my feet.
Licky, licky.
They're always licking my feet.
Stop licking my feet, dogs.
I love the dogs, but stop licking.
It's gross.
The dogs don't even care.
You gotta lick the envelopes.
It's gross.
Don't lick the envelopes.
Use a sponge.
You don't have to do that.
Just use the email.
Email the computer.
Send.
Email address.
AOC at AOC whatever dot something.
It's not hard.
The National Pen Pal Program.
So I've had some other ideas.
So considering that wasting money is not a big deal to her, she should pay for something that's free.
Waiting for a product you can get instantaneously, she loves that too.
And wasting time using outdated equipment in the AOC School of Economics doesn't matter.
I got some other ideas, Joe.
What do you think?
Let me run these by him.
So Paula, I need your input on this too, it's important.
We got to get her.
One of these days we will get her.
Might be a lot of requests for Paula in the microphone, I know.
It's her, she don't want to do it.
She really does exist though.
Had some interesting suggestions, by the way, about yesterday's show.
I'm going to have to leave out because it's family friendly after yesterday's show.
If you missed it, it was a gem on YouTube.
Idea.
Number one, Joe, I think we should ask us postal service mailman, the workers.
to go around and basically destroy mailboxes as they deliver mail, because it would do a great thing.
It would get mailbox production companies to produce more mailboxes, which would hire more mailbox people, which would save the entire snail mail industry.
Just terrific, right?
What an idea.
I like it.
What an idea.
Destroy, break the flags off, whatever.
Don't put too much down.
Don't put firecrackers.
They want to be in danger.
Break the flag or maybe put a dent in it.
Take a little gavel.
Hammer the mailbox a little bit so people don't like it and the HOA gets involved.
You all got dents in your mailbox.
Buy a new mailbox.
The mailbox industry would explode.
It's a great idea.
It uses AOC's rules.
Pay for a new mailbox you don't need.
Wait for a new mailbox you didn't need because it wasn't broken.
And waste a bunch of money on assets, new mailboxes that didn't need to be wasted on and could have been put to more efficient use.
But it doesn't violate any of AOC's new rules of economics.
That's a great one.
I like that one.
Here's another one.
We should start a, you know, she wants a national pen pal program.
We need a national equestrian program.
We need to train kids how to ride horses.
We can scrap the cars.
We can save a bunch of gas.
Keep the fossil fuels.
We don't ride horses around!
Wild, wild horses.
We can all be on horses to school.
A little hay, the little things around their butts so when they do their thing in the school parking lot, you can saddle on up and they don't have to drop their stuff all over the place.
Horses.
This is super efficient, man.
It basically scribes in stone and sanctifies AOC's three rules of economics.
Pay for something.
You don't need a new horse.
Wait for a service, right?
Transportation service.
It's going to take you a lot longer.
You'll have to wait a lot longer to get to school because a horse doesn't go as fast as the car.
And waste a lot of time using old equipment.
Horses that you didn't need to use.
You could have been in your car.
AOC Rules of Economics 1, 2, 3 meets them all.
Let's wreck the mailboxes.
Let's get a national horse riding equestrian program.
One more.
This is a great one.
We can ask the kids to train carrier pigeons.
Who the hell needs snail mail, folks?
Why waste your time on that?
Joe, we can get it even slower.
We can do it even slower.
Slower than that.
How do we do that?
Snail mail, that's way too fast.
If we use carrier pigeon, we can double the time to get the communication back.
That's AOC's rule number two.
Wait really long for a service that's now instantaneous.
We can wait even longer.
Carry your pigeon, put the little message on their, you know, the little feet you get, you send it over, go!
It's fun!
Come on, Mike Tyson loved pigeons, right?
We can waste time using equipment we don't need.
We can waste time using pigeons we never used before, training the pigeons and everything.
This is great.
And we can pay For something that used to be instantaneous, we can pay for the privilege of buying a bunch of pigeons and pigeon tracers.
Those are just my three ideas that subscribe to AOC's three rules.
And we'll add the fourth, which is she should commit to leading from the front and running her next campaign exclusively by carrier pigeon.
It's only fair.
Now, I was listening to Fox yesterday on my phone.
Sometimes when I work out afterwards.
By the way, I was working out yesterday and I got back into grappling this week.
It's been a few months because of the Rona.
So one of my buddies came down.
I got a mat in my house, like a full zebra mat.
And man, did I get my caboose kicked.
It was bad.
My grappling skills have diminished dramatically, folks.
I took three months off and at 45, I'm gonna say to you, this guy's really good, but that's not an excuse.
He's been a black belt in Brazilian jiu-jitsu since 2008, so this guy's forgotten more stuff about jiu-jitsu than I even know.
But oh, did he wipe the floor with me bad.
So I woke up yesterday, some of you may have known, I was like this.
Paula had a, you know the Tin Man with the squeaker and the oil?
Paula had to do the Tin Man routine.
Little squeak.
I was like, oh!
I took a beating.
But when I work out in my mat room in the gym down there, I was listening to Fox yesterday.
I heard Marie Harf on Fox.
And she was touting this.
She happens to be a liberal.
Pretty, pretty far left liberal.
And this thing about, you know, the post office hoax that Trump is slowing down the mail to mess with the election that we addressed yesterday for 20 minutes and totally dismantled in a segment we got a lot of good feedback on.
She knowingly or unknowingly released the Democrats a new talking point.
What is the Democrats new talking point, the Postal Service?
Because they're the hoax, the Postal Service hoax, that the hoax Trump is slowing down.
It's so idiotic.
And every American's like, wait, wait, liberals, you just figured out now that the post office is inefficient.
If you just figured out yesterday, the post office is losing money and is inefficient.
Then you might be a liberal or you might be a media moron.
I'm just saying, because everyone else in America, like literally everyone else in America knew that other than you, not even figuratively.
Like everyone got that but you.
So if you just figured that out yesterday, you may be a liberal or a medium worm.
So they need a new talking point because the new PP hoax, the post office hoax, which is the equivalent of the PP dossier, was going nowhere and falling on its face and people were laughing at them.
Yeah, the post office is going to mess up the election?
Some of the states are doing that all on their own.
Right.
So Marie said, here's their new talking point.
She said, well, the post office has been losing money.
You know, basically it's been inefficient and all, but it's a service.
It's a service.
So for the American people.
Oh, oh, oh, okay.
Just so we're clear.
So the new talking point, Joe, is if it's a service, efficiency doesn't matter at all.
You know, a service like providing food and stuff, we don't, and by the way, the post office is an independent agency just to be crystal clear.
So even that doesn't work, but their new line of attack is the government should do it.
Even if it's some quasi independent agency, like the post office, the government should do it because it's a service.
Well, Joe, that begs common sense questions like, well, isn't providing food a service as well?
I'm just saying, I mean, why doesn't the government take over all the farms too and lose money there?
Well, why?
Because we actually want people to eat and when the government takes over the food supply, you get the great famine like you had with Mao Zedong.
You get mass starvation like you had in the Soviet Union, or you have in North Korea today, where they are literally taking people's dogs to eat them.
Not kidding.
Google the story yourself.
North Korea dogs.
It's really gross and really disgusting and very tragic.
Not a joke.
They are eating people's dogs in North Korea.
That's what happens when you declare something a service and you allow the government to take it over.
So Marie was unintentionally making free market, libertarian and conservative folks points, not hers.
That yes, it's a service and of course it loses money because the government does it.
Thanks Marie, you made our point, not yours.
That's their new talking, shockingly, that's their new talking point.
No, no, no, it's a service that loses money only because the government does it.
Excellent, excellent point.
Paula, does that not make sense?
Come on.
I'm asking her about the Marie question for a reason.
It's a service.
So is restaurant management.
We don't have the government managing restaurants.
Oh, we do!
They put them out of business in New York.
That's right, with the Rona.
Now, showing you how dumb this whole postal service thing is from AOC's backwards economics to save it.
To Marie's point that, oh, it's a service the government runs, so it's a-okay that they lose a bunch of money.
Hat tip, my friend, Eddie Zipper on Twitter, who listens to the show a lot.
I found this clip on his Twitter feed here.
This is Obama back in the day when he was pretending to be a serious person, before he was into the whole weaponizing government, spying on his political opponents thing.
Remember that show?
That was just before that.
He was pretending to be a serious person.
Here's Obama counteracting Marie's point that, oh, don't worry, it's a service, so the government should do it because they'll run it so much better.
Ah, really?
Check him out.
If you think about it, you know, UPS and FedEx are doing just fine.
Right?
No, they are.
I mean, it's the post office that's always having problems.
I don't know.
There is Obama himself.
But again, when he was still a serious, or trying to be a serious person.
It's the post office that's always having problems.
Yeah, yeah, because the government is involved.
It's an independent agency in name only.
They want a government bailout.
UPS, FedEx are doing fine.
They figured out an efficient way to pay less with a less of a weight to deliver your package while not wasting capital.
They violated AOC's three rules of economics.
Pay more, wait longer, and waste a lot of stuff.
FedEx and UPS have violated all of Economist AOC's rules.
They pay less for less weight and less waste.
Oof.
All right.
I've got it.
Here's what's coming up.
I got a bunch more.
I'm gonna get to my third sponsor, but...
California, there's a serious problem in California with these rolling blackouts.
California is becoming a Venezuelan-like power grid.
I've got that story, and it's important you understand why this happened.
And I'm reading it, I'm going through the story after this so you understand, like, it's people like AOC and their backwards economics that are causing your blackouts in California right now.
That's 100% the reason, just get that.
I've got that, and I've also got an interesting story about these lockdowns and how the evidence is now mounting that these things were a total epic disaster.
All right.
Our third sponsor today, our friends at Job Creators Network.
Folks, this is important.
They're a new sponsor.
So please, if you wouldn't mind, give me just a minute of your attention on this.
It's super important.
I'm getting this question in email a lot, a lot, like 100, 200, 300 times a day between all my platforms.
Dan, we got to save the country in November.
What do we do?
In various forms, that question comes in all the time.
Joe and I got it at the gym.
We went up there, a bunch of people.
What do we do?
Like you, I know America itself is on the ballot in this election.
Our freedoms, our free enterprise system, our way of life.
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Okay.
I spent a little bit of time on that AOC stuff, but it's important and it segues nicely into
my next story at the Wall Street Journal.
[BLANK_AUDIO]
Folks, I really feel bad for you in California.
I do.
I traveled quite a bit to Los Angeles in that area.
I like it.
There's a lot of good people.
There's a shocking number of conservatives, by the way, in Los Angeles.
Even in areas like Beverly Hills.
Believe me.
The only reason I don't talk about it more, and I'm being absolutely candid with you, and I don't mention names, is because, and you know who you are.
People who've approached me when I'm in California or like Beverly Hills and like the foo-foo areas.
Dan, we love your show, whatever.
I don't even mention them on my show.
And a lot of them are pretty prominent people because I don't want them to get boycotted.
I'm not even kidding.
Right, Paula?
Remember that story?
The restaurant?
You know who you are.
Poor guy.
I'll leave it at that.
They'll probably burn his restaurant down otherwise.
I feel bad for the people in California.
You're really being screwed over.
Did you know in California they're doing rolling blackouts?
You're like, Dan, that's a story about Venezuela and North Korea.
No, it's a story about California.
It's a real story.
Wall Street Journal.
Not kidding.
They can't even keep the power on.
In New Socialist California.
Wall Street Journal opinion from the other day, August 16.
California's blackout warning.
Anti-fossil fuel mandates are leading to electricity shortages.
Folks, this is not a story about a Kragana, Djibouti, Venezuela, Or North Korea.
This is a story about California.
Do you find it mildly ironic, just a little bit, mildly ironic that California, home to basically every high-tech company on planet Earth or in the cosmos, high-tech technology, can't even keep the damn lights on?
Do you find that even mildly ironic?
You shouldn't if you understand that California is run currently by socialists who subscribe to the AOC three rules of economics, pay more for things that are free, wait longer for things that are instantaneous, and waste a bunch of time on things you don't have to waste any time on.
If you subscribe to those three rules like the Californians do, that's how you get North Korea like electricity production.
So what's really happening in California?
Let's go to screenshot number one from the piece.
They're practicing Green New Deal-like power management.
So California last experienced rolling blackouts in 2001 amid energy market manipulation by speculators.
This time, the cause is energy market manipulation by anti-fossil fuel politicians.
Democrats have mandated that renewables account for 60% of state electricity by 2030.
It's forced the power providers to invest in renewable energy sources now meant to meet the deadline.
So here's what happens, folks.
During peak daylight hours, California produces a surplus of solar energy.
Why?
Wait for it.
Joe, wait for it.
Because the sun is out during the day.
I know AOC's stunned by this.
So during peak daylight hours, Joe, there's a surplus.
Wow, that's great, Dan.
Huge success.
It goes on.
Hold on.
Because of the surplus, power generators may be ordered or paid to cut back their production so the energy grid isn't overloaded.
Wait, what?
Then on Friday and Saturday, this California power agency reported that about 1,000 megawatt hours were curtailed, enough to power 30,000 homes.
This year, 1.3 megawatt hours of power have been curtailed.
You may be saying to yourself, that sounds like AOC's dream.
Suns go in during the day.
So much power.
They have to get rid of some of it.
So what's the problem?
What's going on?
Well, of course, none of this obeys any simple rules of economics.
It obeys the AOC, three rules of economics.
Pay more, wait more, waste more.
And you get this.
Here's screenshot two.
Here's what's actually going on.
But this surplus during the day means, Joe, crazy how this happens.
There's some... Wait for it, Joe.
Wait for it.
Don't read ahead.
There are supply shortages at night because Joe... Yes, Joe.
Yeah.
Calm down.
You're getting ahead of yourself.
There's no sun at night, Joe.
There's no sun.
Folks, prepare.
I know you're stunned.
I know AOC is like, wait, what?
There's no sun at night?
This is crazy.
Back to screenshot number two.
I'm seriously crying.
I can't take this stuff anymore.
So back to screenshot number two.
So, but here's the problem, Joe.
Energy demand is still high because, shockingly, people don't want to sleep in 7,000 degree temperatures at night, so they still need the power.
Yeah.
I am seriously crying.
Like, tears of Paula can vouch for me.
So, don't take this off.
No, no.
I know you want to come back.
It'll be better because the tears are coming down my face right now.
So that's what happened this weekend.
Many natural gas and nuclear plants that can generate 24-7 power have shut down in recent years because they can't compete with the heavily subsidized green energy like the solar panels.
So a 10-year-old natural gas power plant, California's Inland Empire, is now being decommissioned 20 to 30 years earlier than its planned lifespan.
Oh.
The state water regulations are also forcing the shutdown of peaker plants along the coast that can ramp up generation when the sun goes down.
They were warned that there would be energy shortages as early as 2021.
But as the Wall Street Journal cleverly says, this last sentence is great.
Remember, they were warned they could have energy shortages by 2021, folks.
AOC.
Always beating the goals, Joe.
That day has arrived a year early for energy shortages.
Congratulations to Democrats for beating their own forecast.
Nice job, AOC.
They predicted energy shortages by 2021.
You're a year early.
Nice.
Do we have, like, a trophy laying around?
No, don't show it.
Oh, man.
We always have all these gadgets.
Congrats!
You Democrats are awesome.
Hard chargers.
Beating your goals for energy shortages by one whole year!
Nice.
Awesome work.
This is what you're in store for.
We're the Biden presidency.
Oh.
Where you have a former bartender.
Who, by the way, is an insult to Biden.
I told you, one of the smartest guys I ever met was Pete from Glen Patrick's.
That bar ace thing out.
Great life advice.
AOC's not that guy.
A former bartender who wants you to pay more, wait more, waste more.
When you have her running your economic policy and running your Green New Deal, getting rid of gassy cows, this is what you get.
Californians running the state who haven't figured out that the sun at night goes away.
Sun.
Night.
Sunday, connect.
Sun, daytime, connect.
Sun, night.
Visuals for the liberals watching.
Sun, day.
Sun, night.
AOC hasn't really figured that out yet, of course.
But she's figured out a way to pay more, pay more for solar panels than they could with standard natural gas, to waste more, By basically throwing away electricity during the day, when the sun, day, sun's out here.
So they waste all of that and to wait for a service that you could have got instantaneously.
In other words, peak plants that would kick on, peaker plants that would kick on automatically when the sun goes down because it's nighttime, sun, sun, night, when the sun goes down.
And let's decommission those too because of our Green New Deal water regulations.
It obeys all three rules of AOC economics.
Pay more, wait more.
and waste more.
So speaking of dopey economic plans that intersect with terrible public policy when it's come to this plague from China, which interestingly enough, Andrew Cuomo during his dreadful speech last night during the terrible convention called it the European virus.
Uh, I mean, if that's not gaslighting, I don't know what is.
But I saw this interesting article in just the news, John Solomon's new site.
It'll be up in the show notes.
Please check it out.
By the way, the GoFundMe for Attila's gym was in yesterday's show notes.
It was at the bottom.
A couple of people emailed me, said they couldn't find his there.
Go to bongino.com slash newsletter and just hit subscribe.
We'll send you these articles every day.
It's free.
Of course.
I'm going to charge you for articles.
Bongino.com slash newsletter.
We'll send you these articles every day, but check this one out.
Coronavirus spikes in regions with strict lockdowns.
It reignites the debate over effectiveness.
Ladies and gentlemen, these lockdowns have been a total disaster and the people imposing them on us cannot explain why some of the states with the strictest lockdowns are now seeing a massive spike in new cases.
Folks, As I've repeatedly, over and over, for the five plus years we've been doing this show, said to you, correlation does not always equate to causation.
It doesn't.
Because you get more colds in the winter doesn't mean cold weather causes colds.
It may be through a third party variable, like more mucus in your nose, appropriate for today's show, given that I've been crying the whole show in laughter, and you touch your nose more in the winter, therefore transmitting viruses into your nose where there's a moist environment.
It's not the cold weather per se.
Because two variables are correlated does not mean they're causal.
That doesn't mean they're not causal either.
As Nassim Taleb always says, the absence of evidence isn't evidence for absence of an effect.
Having said that, correlation is not irrelevant.
Because two variables are correlated, they may be causal.
We know that the states that have locked down the most severely, they haven't worked.
From this, just the news piece.
Look at California, which went draconian rather fast, rather quickly, excuse me, on the lockdowns.
And now it's doubled down on lockdowns.
Well, what's happening there?
If lockdowns work, you'd think they'd see sloping down in infections.
Not so much the case.
Quote, in mid-July, Talking about the governor, he extended the reclosure statewide, while further shutting down indoor worship malls, barbershops, and hair salons in counties with high infection numbers.
He also ordered state citizens to wear face masks starting June 18th.
All right, the hands that should have worked, right?
Big draconian lockdowns, face masks.
Well, when you review the state's COVID-19 data, it indicates the cases in California continue to rise, whether it was locked down or partially reopened.
The state's COVID dashboard shows it only began seeing a sustained drop in average daily cases in late July, though those numbers began increasing around August 10th.
Again.
Again, folks, I'm just asking us, are we doing data?
Are we doing facts?
So if lockdowns and face masks are supposed to be, I'm not saying they're not, I'm not saying, again, don't mistake this for an over-interpretation of data either, rather than an under-interpretation.
I'm simply suggesting to you we should be seeing some data on a mass scale, given that so many places were locked down and had mandatory mask usage.
We should be seeing data showing a decline in cases, not an uptick.
We're not seeing that.
We're just not.
I'm gonna give you the reasons in a second, but just a second example, okay?
Oh, Dan, that's one state, Hawaii.
No, no, there's another one.
Excuse me, California.
There's another one, Hawaii.
From Solomon's Peace.
Hawaii lockdown, they're relatively isolated.
You know, they're not exactly landlocked, Hawaii, for the liberals listening.
They appear to have been spared the worst of it from late April onwards.
That's good news.
Yet, it's always a yet, cases began to go up again in mid-June, and from late July onward, they've been spiking according to their own statewide dashboard.
Unlike the first smaller wave in March, brought largely by travel-related cases, most of the new cases so far have been from community transmission of the virus.
Folks, what's going on here?
Well, it looks like there's two reasons here.
Two significant reasons why these lockdowns, despite Because I want to try to pull myself out.
I don't want to make this partisan.
It's not.
These are serious.
People are dying.
It's a very serious disease for people with comorbidities in the elderly.
This is not some kind of thing we should just pass off and make a political football.
But we should be asking a question like, the lockdowns you would think would make sense, right?
I mean, it sounds almost commonsensical when you think about it.
If a virus is transmitted through respiratory droplets, sneezing in close proximity to others for an extended time with people who are infected, Then if you separate people by locking them down, it should stop it.
But it hasn't.
Right?
It seems to make sense.
On its face.
We're not liberals again.
We're like, yeah, yeah, that sounds like it.
So why, why isn't it?
Well, when you think about it, it's fairly obvious because ladies and gentlemen, no matter how harshly you lock down, people have to eat.
People have to go out and get gas for their car.
And some people have to work to feed their kids who are essential workers.
They have to, so you're going to see people going to supermarkets, see people in gas stations.
There's always going to be some mixing and matching of people who can't socially distance or can't, there's always, you can't stop it.
I think people would die from isolation.
They'd starve to death.
People have to go to work to keep the water running in your house.
People have to pick up the garbage.
So you're never going to be able, the lockdowns are a myth.
Not a myth in that they lock states down.
Locked under, you can't permanently lock.
There's always going to be some mixing and matching of people because essential workers have to show up and people have to eat.
Then when you do that and you go home, most of the data is pretty clear that the virus transmits more effectively in a closed indoor environment rather than open air.
You're not going to stop it.
The only question is, when are you going to get your peak?
Or are you going to have a sustained level of community transmission over time that's going to be flatter?
And again, when you ask these questions, you should be asking yourself, well, okay, I'll choose the latter.
I'll choose kind of a flatter More even infection level, because we're not going to be able to stop it because it won't overwhelm our hospitals.
Well, then we have to ask ourselves, okay, well, how are you going to get there?
Did it work?
And what are the effects of the lockdowns on people's health too?
Are we losing more people due to the lockdowns?
And those are questions a lot of people sadly aren't willing to ask.
Reason.
Facts.
Data.
That's what real science is.
Testable hypotheses.
Teasing out correlated variables from causal variables.
We should be looking at this.
Most people aren't.
All right, let me get to my next story, kind of related to this.
There's a great op-ed piece by Andy Kessler, does some good work in the Wall Street Journal, kind of funny, really gifted writer.
I mean, anybody can write a story, anyone, right?
We can all write, type, whatever, send in an article, but he has a real gift for this.
He has a great piece in the Wall Street Journal today.
And I'm going to leave you today with this one because it's important.
Saying that about, hey, the lockdowns, you know, we talked about that.
What's the effect on your wallet, your economic situation, your wallet, your job matters.
So Andy Kessler is a piece today.
Stock scenarios for a madcap year.
Despite the strong market, investors are plotting the what-ifs.
Here are four to watch.
I'm going to talk about two, the two I think are most likely.
So just to be clear, Kessler's piece, bottom line up front says, hey, you got money in the market?
You're working in a job that's a publicly traded company.
This means something to all of you.
Here's what could happen in the coming year.
He gives four scenarios.
I picked two of the most likely.
They're very interesting though.
And when I say interesting, I don't mean necessarily that it's all going to be Pollyanna-ish.
Some of the stuff here is not very good, but if you know in advance, it'll help you prepare.
So here's takeaway number one.
He says, listen, Money's ready to pounce.
There's a whole bunch of money out there, folks.
The money supply is up 25% so far this year.
The personal savings rate, which has hovered between 7% and 8%, is now 19% in June, meaning people have a lot of money they haven't spent.
It's sitting in their bank accounts.
Another trillion dollar stimulus will add to it.
Ladies and gentlemen, all that unspent money is going to come flooding back into the economy, which is why gold, by the way, is approaching $2,000 an ounce.
This is from Kessler's piece.
Other commodities keep rising.
The Federal Reserve raises rates.
Debt defaults will increase.
Higher inflation would make future earnings worth a lot less today, so P-E ratios would collapse.
And all those companies that are barely profitable but are highly valued based on future earnings, Tesla's Zoom will get wrecked.
He says in his first scenario, again, his advice, not mine, buy consumer cyclicals, maybe even beaten up hospitality and travel stocks.
Sell everything else.
Short bonds.
Now, scenario one there he talked about, where the economy booms, booms so much that all this money sitting in people's bank accounts and banks, we've printed so much of it, floods into the economy at the same time, is contingent on a vaccine.
I should have mentioned that at the beginning.
That we get a vaccine, people feel safe going out in public again.
People feel safe with the vaccine, which is a big obstacle too.
They take it, and that we're back to some sense of relative normalcy.
Yeah, you say, well, what's the problem?
The problem again, ladies and gentlemen, is people are sitting on boatloads of cash right now.
People who are employed, people who've lost their jobs are struggling.
But the people who've retained their job, they're not spending their money.
They're not going out, they're not going to restaurants, they're not going to Disney World, whatever it may be.
They're not going to movies.
The movie theater's shut down.
That money has to go somewhere.
That money's in their bank account.
When all that stuff opens up again, the dam breaks.
Where does the money go?
You have a whole bunch of money chasing, chasing, Again, it's not AOC economics.
This is real economics, chasing the same amount of products.
So the cost of those products goes up because more money is chasing the same products.
So he's saying, you know what that does to companies like Tesla and Zoom, who may not be profitable now, but their stock prices are high because people are counting on their profits in the future.
Well, their future profits are going to get flushed away due to inflation.
Interesting point.
So scenario one, you get a vaccine, people trust it, everything gets back to a relative state of normalcy, money floods into the economy, inflation, big problem.
Scenario number two.
This is a bad one.
Joe Biden wins and the Senate flips the Democrats.
Uh-oh.
What happens then?
Kessler says, well, stocks get nervous.
President Biden wants to raise the, oh gosh, I can't even say that.
President Biden wants to raise the top income tax rate to 39.6%, the same for dividends and capital gains, and increase the corporate tax to 28% from 21%.
Treasury Secretary Liz Warren and Fed Chairman Lawrence Summers lobby Congress to make it happen.
The Tax Foundation thinks this will reduce gross domestic product by 1.5% long-term, so there won't be any inflation.
Good news, Joe, there'll be nothing to buy, because there'll be no products.
He goes on.
He says, the bad news is that the net return for stocks may drop by a third from a combination of less earnings per share and less cash on cash returns when a stock is sold.
Ladies and gentlemen, it's really simple.
Joe Biden wins, they win the Senate, God forbid.
Money gets pulled out of the economy, given to the United States government in the form of super high taxes, the stock market crashes, businesses crash, GDP crashes, no inflation, but nothing to buy either because you have no companies left to produce it.
Again, he gives a couple more, but I see these two as the most likely.
Obviously, I would prefer the first scenario because we can deal with inflation.
You're not going to be able to deal with an out-of-control, empty-vessel Joe Biden presidency where Elizabeth Warren and the hapless AOC, whose three rules of economics, pay more, wait more, waste more, are implemented and grinded into stone.
We can raise rates at the federal reserve.
It may cause some temporary economic dislocation and some pain, but we've been through it before.
Those of you who lived through the Volcker years in the late 1980s, when inflation was out of control after Ronald Reagan took over for Jimmy Carter, remember what it was like to have 12, 13, 14% interest rates.
It's tough.
Money gets expensive and interest rates are a cost for money.
Interest rates, that's it, right?
Interest rates are a cost, it's a price for money.
Money gets expensive to get.
Loans are expensive.
But what happens?
People start to realize they can make money on investments again, CDs and other things, they put the money back in the financial institutions, they get their interest, all of a sudden the price of money goes down as more money becomes available.
Simple economics, not AOC economics.
It'd stink for a while, but we can fix inflation.
As long as it doesn't get out of control.
We can't fix Joe Biden.
Vote.
10 for 20, right?
Go back, listen to my sponsor again, make sure, don't forget.
All right, folks, thanks again for tuning in.
That was a lot of material we covered today.
I had a few other stories.
I'll get to them tomorrow.
Hopefully the story about New York City broken windows, but it is in the show notes today.
If you want to read ahead of New York Post story about why the crime rate in New York City for things like homicides.
and assaults are going through the roof.
Check that out.
Thanks for tuning in.
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