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March 14, 2023 - Dennis Prager Show
46:54
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Dennis Prager here.
Thanks for listening to the Daily Dennis Prager Podcast.
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This...
Ooh!
This is the Dennis Prager show, but this is obviously not Dennis Prager.
This is Dennis Prager's producer, sometimes known as the living martyr.
Dennis has been delayed, shall we say.
Well, actually, we don't have, shall we say, he's been delayed.
Happens, I would say...
Three times a year, Sean?
Does that kind of sound right to you?
Yeah, yeah.
And that gives me the rare opportunity to fill in, usually, and I think it'll be the case today, sometimes it's two minutes, sometimes it's four minutes I get today.
It may go a little bit longer.
Dennis says he'll be here for the second segment.
Don't go away.
He will be here.
So I thought what we would do is just give you a preview of the show, give you some of the stories that we're going to be focusing on today.
Just a little preview of each one.
So now, you may have heard this, we have a...
Government Discrimination Board.
This is the newest thing.
And this will make you feel better.
It's going to be headed by a person who believed that Hunter Biden's laptop was a Russian op.
Doesn't sound good.
And doesn't sound surprising.
The Democrats are creating...
This so-called disinformation board.
Disinformation, as you well know, is anything the Democrats don't like.
The woman who is going to head the board is a partisan Democrat, a pretty hardcore leftist.
So, what does that mean?
It means we will get more disinformation and less truth.
How about this one for Californians?
The gas tax is going up.
The price of gas in California is not high enough.
So the gas tax is going up, which is fine, again, for those who are obsessed with global warming, because the higher the gas tax is, supposedly, that forces people to buy less gas.
And more electric cars.
We've investigated this at PragerU in several videos.
Electric cars, you really give it some thought, are not greener than gas cars.
It's kind of a wash because in order for an electric car to go anywhere, obviously, it's just a giant battery.
And to have a giant battery, you need all kinds of rare metals.
And those rare metals are expensive.
And to get the rare metals, you know what you have to do to get metal?
This is something I don't think people really understand, and they should think about it.
In order to get a metal, you actually have to build a mine.
And you have to dig.
For those to get the metal, to get it out of the earth, it's a whole big mining operation.
And guess who hates mining?
The Greens, the people who say, oh, everybody has to get an electric car.
But don't you have to mine to get an electric car?
Yes, you have to mine to get an electric car.
Oh, we hate mining.
Do you know how hard it is to get a mine in the U.S.? Do you know that there was a mine...
A nickel mine in northern Minnesota that was approved and then disapproved by the Biden administration.
Big project, lots of jobs, closed down.
They went through all the environmental hoops, all the environmental studies, and now no nickel mine in northern California.
So where is the nickel going to come from?
It's got to come from somewhere.
Well, it'll come from China.
Probably come from Russia.
They have nickel mines in Russia.
Maybe Africa, because those are the only places where mines can open.
You can't open a mine in the United States.
Not possible.
Not without massive protests and all the environmental regulations you have to go through.
Gas tax going up in California.
Maybe if gas is so expensive, everybody will just ride bicycles.
We'll get it done that way.
Europe, on the same subject, well, roughly, wises up to Putin's gas tactics.
This is in the Wall Street Journal.
So Europe...
Way, way too late, realizes that they're dependent on Russian gas.
This is a big, big problem.
Russia just said to Bulgaria and Poland, we're cutting off your gas unless you pay us in rubles.
Poland is trying to get gas from North Africa, and Germany is heavily dependent on gas from Russia.
Why?
Because they closed all their nuclear plants.
Bjorn Lomberg noted in a piece in an Australian newspaper earlier this week that there's plenty of gas in Europe.
You know how you get gas in Europe?
Frackfort.
There's gas, plenty of gas in Germany, plenty of gas in the UK, off the coast of Norway.
There's probably more gas than we know in Europe.
But to get the gas, you have to dig a hole in the ground and get the gas.
And if you don't do that, well, then you're going to be dependent on Russians who are happy to dig holes in the ground and get the gas and sell it to you for billions of dollars.
What do you think would happen if the Biden administration said, change in policy, Keystone Pipeline, online, baby!
We're going Keystone.
Anwar, Alaska.
Yep.
We're going to drill in Alaska.
We're going to make it easy to get energy in the U.S. We're going to export it all over the world.
What do you think would happen to gas prices?
Those gas taxes in California might even, like, you might not even feel them because the price of gas would go way down and Mr. Putin would be in big trouble.
But that's not going to happen.
simply not going to happen.
Well, let's see.
Yeah, uh-oh.
He's here, and he's going to walk in front of the camera.
He's going to block.
He's going to wave to you.
It looks like I've had my 10, 12 minutes for the next few months.
The next time this happens, I'll hopefully be here and ready to fill in.
But I don't have to fill in for much longer because the host of the show has arrived.
So, let me step aside.
Sean, how much time do we have left in this segment?
There's a minute and a half, sir.
Okay.
So you want to relax for a minute and a half?
Or do you want to take over?
I'll let everybody know I'm here.
Okay.
All right.
Alright, so I'm going to fold my computer screen and retreat where I belong, which is in the background.
Well, if nothing else, my friends, you got to hear the living martyr for an extended period of time.
I was in a minor accident on the way to the station, and hence the lateness.
If I told everybody what happened, well, in a nutshell...
I made a right turn in a right turn lane.
There were two right turn lanes.
And the guy in the other right turn lane to the right of me kept going straight.
So there's nothing you can do.
The same turn 12 years.
Everybody turns.
The guy was in a rental car.
He doesn't live here.
And so I hit him.
You know, nothing serious, but it was what it was.
That is the inevitability of life.
That's the way it works.
Happily, nothing serious.
We continue.
The Dennis Prager Show.
Dennis Prager here, and the real estate market is hot right now.
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8888-1172 Well, hello everybody.
Thank you, Alan Estrin.
Norman Goodhands, when my producer sits in, in his solid, somewhat deadpan delivery of very important information.
There are developments that take place in America on occasion that are so frightening.
To those of us who love freedom, and to those of us who believe in the founder's vision of limited government, that words elude us.
How much has this been covered, that there will be a Department of Homeland Security disinformation governance board?
Has that been widely covered?
I know it was announced yesterday, but still, I'm curious if it was widely covered.
No.
This, folks, is exactly the sort of thing you have in every totalitarian regime.
But what they do is they yell at the Republicans for, here's an op-ed in the LA Times today, the Republican Party adopts Russia's authoritarian playbook.
They have set up a government agency to monitor disinformation.
But they yell at their opponents for being authoritarian.
So, what are you going to do?
It's like murdering somebody and saying that they actually did the murder.
This is the true gaslighting, as they have put it.
Daily Mail.
President Biden has set up a disinformation board headed up by a woke so-called expert who's against free speech and tried to pour cold water on the Hunter laptop scandal.
Nina Jankiewicz will head the department.
The Department of Homeland Security's Disinformation Governance Board.
Get that?
The Department of Homeland Security will now be turned into a STASI. That was the East German intelligence agency, spy agency on its own people.
The Department of Homeland Security's Disinformation Governance Board.
She will be the executive director.
Homeland Security Secretary Alejandro Mayorkas didn't disclose any powers that would be granted to the dystopian-sounding board while addressing lawmakers on Wednesday.
He explained that the board Would work to tackle disinformation ahead of the November midterms.
In other words, so he's actually noted.
It's political.
See, they're afraid that Hispanics are starting to vote conservative.
So they're telling Hispanic Americans that you are receiving misinformation from anything that isn't left-wing.
So you can't vote conservative because you're being lied to.
Wow.
Mayorkas noted that the focus of the new board would be to stop the spread of misinformation in minority communities, including election misinformation ahead of the 2022 midterms.
He added that it would focus on the latest trend of misinformation allegedly targeting Spanish-speaking voters.
No further details on the exact misinformation being deployed against these communities were shared.
So now the issue is that truth or lie is dependent on what community is being given the information.
Thank you.
The question of the left is never, is it true?
Never.
The left attacked me for something I said yesterday about how there will be a tremendous amount of hatred on the new Twitter, in my opinion.
That's pure opinion.
I conjecture.
I acknowledged it.
I'm not a prophet.
I can't predict with certitude.
But in order to show that Twitter has been taken over by haters, they will be, I am convinced, phony tweets of hatred against minorities, LGBTQIA, and et cetera, et cetera.
And I said that hoaxes in this regard have become common.
So it gives you a good idea of the low moral and intellectual status of the left-wing monitoring services.
They put up the video of me speaking yesterday, saying that almost every hoax that I am aware of on a college campus was done by a minority, usually a black.
If there's a noose, if there's the N-word, on a college dormitory door.
To the best of my knowledge, it's virtually always been done by a black student trying to show how racist the college is.
I bring these to you regularly.
I've written this up.
I am not the only one to write this up.
So the left broadcast to this, look at what Dennis Prager said, as if it were not true.
They don't say it's not true.
They don't have the courage of their lying convictions.
They just play it as if it isn't true, as if it's just bigotry.
So because they don't ever ask, is it true?
Is it true is as irrelevant to the left as any question you could ask.
The color of your car is more important to the left than whether a statement made about American life is true.
Anyway, this is frightening.
A disinformation government board.
Wow.
What was the Franklin Roosevelt's line?
The only thing we should fear is fear itself, which I think is terrific.
The only thing we have to fear, right.
I agree with that, but I would now modify it and add, the only thing we have to fear is the left itself.
That's true.
I don't fear COVID. I don't fear death.
I fear the death of my beloved country at the hands of people who loathe it.
It's not so much that they just loathe the country, they loathe the liberty that has made this country unique.
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That's the number two.
Hi everybody, Dennis Prager here, one of the clearest thinkers in the United States over the course of my lifetime has been Steve Forbes.
Honest, clear, intelligent, courageous, good stuff.
Steve Forbes, chairman of Forbes Media, the foremost name in business information.
You may recall, if you're old enough to recall, in 1996 and 2000, he was a serious candidate for the Republican nomination for the presidency.
He and two authors have now written a short, clear book titled Inflation, What It Is, Why It's Bad, and How to Fix It.
It's hard to get much more important than that.
Steve Forbes, good to have you on.
Good to be with you, Dennis.
Thank you very much.
This is a high honor.
That's very kind of you to say.
Thank you.
It's my honor.
You know, I'll start with a very heavy comment.
Inflation is not just a monetary issue.
I mean, I know you know this.
I'm saying this for the benefit of my listeners.
When I think of terrible inflation, I think Of what brought the Nazis to power.
I know a lot about that era.
And it was not anti-Semitism that brought the Nazis to power.
It was, in my opinion, the inflation in the Weimar Republic, the republic that was created after World War I in Germany.
So when people think inflation, they should understand the social repercussions of terrible inflation.
Have I overstated the case?
No, you haven't.
And you're right, the German hyperinflation of the early 1920s created the conditions for the rise of Adolf Hitler.
You combine that with the Great Depression, and you had this horrible near-collapse of civilization in the West.
And in terms of inflation's impact, you make a very important point, and we do so in this book, which we try to write in a very reader-friendly, jargon-free way.
It's not just economics.
Rising prices, but also it undermines what we call social trust.
The way we're able to deal with strangers, the way we're able to create these extraordinary supply chains around the world with people we don't even know is because of money.
And when money is sound, you look to the future.
You try to succeed by meeting the needs and wants of others in a productive way.
You may not love your neighbor, but you sure want to sell to your neighbor.
And when the integrity of money is undermined, Keynes was right, not one in a million understands what's going on, but suddenly the virtues, the verities that make life productive and forward-looking get turned on their heads.
Suddenly speculation becomes rampant.
Suddenly you can't trust the future anymore.
And there's a book that came out called When Money Dies, about that German inflation.
And the author points out that before that terrible inflation, Germany was one of the most internally law-abiding nations on Earth.
Very little corruption.
But with the inflation, everything got turned upside down.
People had to resort to crime.
People had to resort to cutting corners.
And it just destroyed the fabric of society.
What we've been experiencing since the early 1970s, when we went off the post-World War II gold standard, Bretton Woods, It's not the kind of hyperinflation that, say, Germany went through or what Venezuela or other countries are going through today, but it's a slow-motion inflation.
But it does have the same corrosive impact on society in terms of looking to the future, having faith in the future, it inflames social tensions.
You see it now with the scapegoating by the Biden administration.
That is a typical response of government when you get inflation, you blame others.
We point out in Roman times, they blamed the Christians.
In medieval times, they blamed witches.
In the early 20s, Jewish merchants and bankers have got the blame for the inflation.
But you're right, the inflation's what inflamed all of these terrible social conditions.
Richard Nixon in the 1970s blamed the Arabs for inflation.
Now today, we're blaming oil company executives, meat producers, Vladimir Putin, anyone but the government.
Well, that's a perfect litany.
By the way, I just want to make clear to, again, my listeners, anti-Semitism is what animated the Nazis, but anti-Semitism is not what animated the vote for the Nazis.
I've read historian after historian.
Hitler actually played it down to get votes.
It was, again, the economic state of the country.
The inflation...
By the way, on that, as you well know, in 1928, the Nazi vote in Germany, the elections they had for the Reichstag, was 2.6%.
And we saw what terrible economic times did.
Within two years, the Nazis were the biggest party in three elections in Germany.
Thank you.
It's incredibly important for people to know that, but of course they don't know it.
They don't study history.
They study gender fluidity.
Very serious academic problem.
Somebody said aggression is a Russian tank rolling down the street.
So the inflation today...
I read as a service to...
My listeners and readers, I read the New York Times.
And they, the Washington Post, the LA Times, the whole crowd, they say the reason for the inflation today in America is overwhelmingly the Putin invasion of Ukraine.
So I'd like you to answer that.
Well, put aside the fact that these troubles were beginning long before Vladimir Putin invaded Ukraine, And you have to ask yourself, if Vladimir Putin is so powerful to set off these destructive forces in the United States, how come he's had such a disaster inside Ukraine if he's such a superman?
And so the fact of the matter is, you look at the calendar, the Fed was undermining the integrity of the dollar back in 2018 before the COVID crisis.
You look at what the government did in terms of overspending.
You look at what the Federal Reserve did.
We're creating too much money.
And what the government is doing today in putting barriers in the way of overcoming what you might call non-monetary inflation, which we discuss in the book, that is the disruptions that came from the COVID lockdowns of the supply chains.
And that, whether it's waging war against the oil and gas industry, which affects everybody.
Putting in 77 executive orders, which raised costs to businesses over $200 billion last year.
Whether it's the government, Joe Biden says he loves infrastructure, but he's now putting in rules that are going to delay infrastructure projects for years with thousands of pages of more reports on the environment and everything else.
So those are self-inflicted wounds.
Vladimir Putin did not do that.
We did it to ourselves.
I don't understand.
I mean, this is not specifically on the subject, but it's obviously related.
How could they maintain it's the invasion of Ukraine when we had the inflation prior to the invasion?
I'm really asking you a philosophical or even psychological question.
You live in New York City, so you're in the belly of the beast.
When people say it's the invasion, when this actually existed prior to the invasion, do you think they believe it?
Do you think they're lying?
I'm just curious your own personal reaction.
Sadly, it's the spin mentality.
A cruder description would be the big lie.
They figure they've got to blame somebody, and Putin is an obviously odious figure, evil figure, so you blame him.
He's the cause of it all.
But what it does is because so blatantly untrue, it undermines trust in Joe Biden and his administration.
People don't trust them.
Eventually, it affects the dollar when you undermine trust.
That's what makes a currency, helps make a currency stable.
It's not just money supplies.
Trust that the people in authority are keeping it at a stable value, that you can trust the future.
You can make a transaction and not feel you're going to get cheated because of forces beyond your control in three to five years.
And getting to your earlier point on inflation, one of the things it does is give people a sense of powerlessness, that there are forces beyond control, that the virtues that they thought if they abided by, they would have a chance to get ahead.
So Lincoln said, improve your lot in life.
Inflation only makes a mockery of that, and that feeling of out of control.
That feeling of powerlessness, that things are just beyond your capacity to affect events, leads to very destructive social forces, can lead to destructive social forces as well.
And that's, I think, what we're experiencing today.
No one pays attention and people in authority to what happens when you undermine the integrity of a currency.
It's the way that millions of people transact with each other.
Yeah, let me just tell everybody, I'm speaking with Steve Forbes, his book, Inflation, What It Is, Why It's Bad, and How to Fix It is up at DennisPrager.com.
The Dennis Prager Show.
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And my guest is...
Properly prominent, Steve Forbes, a truly rational, honest thinker.
And economics is his field, though he has very important things to say about other things.
But he has a book out now with two co-authors.
It's very simple to read, not simplistic, simple.
And it's titled Inflation.
What it is, why it's bad, and how to fix it.
I want to go back, if I may.
I have never understood, which may be a reflection on me, I acknowledge that, but I have never understood the argument for getting off the gold standard.
I would love to know from you who I think...
It's clear to say you thought it was a bad decision.
Why was the decision made, and how does one defend it?
Well, first, the gold standard is the way in which you keep the value of a currency like the dollar stable.
Gold, for a variety of reasons, keeps its intrinsic value better than anything else on this earth.
Not perfect, but better than anything else.
And so it's like a yardstick or a scale or a clock, which measures time.
Money measures value.
And when you attach it to gold, you ensure that it has a stable value.
And people today, especially economists, don't know or overlook that we were on a gold standard for 180 years from the 1790s, when Alexander Hamilton put us on it, to the early 1970s.
And so it works because it keeps a currency stable.
And during the gold standard time, even though the U.S. had depressions, wars, civil war, the average economic growth rate was the best in human history.
Obviously, there are other factors, but it was the best in human history.
And that's how he went from an agricultural group of colonies on the East Coast to the mightiest industrial nation in the world within a century.
And I'll give you one statistic.
And when we were on the post-World War II gold standard after the war ended, from the late 40s to around 69, 1970, the average U.S. growth rate was 4.2 percent a year.
Since then, it's gone down to 2.7 percent a year.
Now, that doesn't sound like a lot, but when you compound that over 50 years, you see the devastation.
If we'd maintained our historic growth rates, median household income today, which is about $67,000, would be over $100,000 to $110,000.
Just imagine how much better people mine would be if they're making $100,000 a year instead of $67,000.
That is the price you pay when you undermine the integrity of a currency.
And you also, by the way, just one aside on that, countries that repeatedly debase their money big time are violent countries.
You look at Brazil, you look at Argentina.
Violence rises when people don't trust the currency.
Okay, so my $64,000 question is, why did Richard Nixon do it?
They did it by mistake.
They didn't mean to go off of it, but there was a mild recession.
Nixon was coming up for re-election.
They had this mistaken belief that they devalued the dollar.
That would improve our trade balance.
That would goose up the economy.
And so they went off in August of 1971. They called close the gold window because of bogus economic thinking.
Which dominated, sadly, much of the economic profession.
They like to think they can do things better than an impersonal force like gold.
So they went off of it.
They made a half-baked attempt to go back on it.
But no one was really willing to make the effort to do it.
So it just sort of fell apart in the early 1970s.
Ronald Reagan wanted to go back on the gold standard, but no one around him.
Except for the handful of exceptions, most of the economists said, no, you can't do it.
And he knew that if he didn't have the support, intellectual support, it wouldn't happen.
And it didn't happen.
What about other countries?
He wanted to do it.
Did any country in the world stay on the gold standard?
No, because of the post-World War II era, because we're the dominant country after World War II. We had about half of the reserve bank gold in the world.
Europe was devastated.
Japan was devastated.
So they came up with a system that the dollar would be tied to gold, and other countries would tie themselves to the dollar.
So you'd be on the gold standard one step removed.
So the German mark was tied to the dollar, fixed rate, exchange rate.
The dollar was fixed to gold, so Germany was in fact fixed.
But when the dollar went off of it...
That meant the other currencies went off of it at the same time, simultaneously.
So the whole structure came down at once.
And so for the first time in centuries, no country was on the gold standard when we went off of it.
So how do you explain, if it even needs explanation, the great inflation of the 20s while America was still on the gold standard?
Well, when you look at the commodity prices in the 20s, we really didn't have a great inflation.
Farmers certainly didn't feel we had inflation as the agricultural prices went down.
And so when people say that, I look at the numbers.
Well, no, I should have been precise.
I was thinking about Germany.
Germany was tied.
Oh, yes, yes.
Germany, okay.
Germany, the thing to keep in mind about Germany is after World War I, the World War I inflation was not much worse than the other belligerents in the war.
It was the post-war inflation that really went off in Germany.
Germany was not on a gold standard.
They were printing money because they did so for political reasons.
They felt that they paid workers a lot of money to prevent revolution.
And they had this weird thing that they thought they weren't creating enough money.
As prices were going up, they say we're not creating enough money.
All right, hold it there if you would, Steve.
I'm with Steve Forbes.
I want to push your book.
So, the book is Inflation, What It Is, Why It's Bad, How to Fix It, up at my website.
That's a scary video.
What is it?
Social what?
What is it called again?
Social credit, yeah.
There's no question most people on the left would like to have that in America.
You know what?
It's interesting.
I remember when it first hit me, the long reach of government and the acceptance of it.
I always knew about the long reach of government, but the acceptance of it by nice people.
It was in Australia.
I was speaking in Australia.
And I had a dinner at the home of one of the hosts.
So obviously someone who liked me enough to help bring me to Australia.
And this was Sydney.
And they were telling me that how much trash you put out for the trash takers.
The trashmen, the garbagemen, whatever term you wish to use, the sanitation workers.
The amount of trash you put out was monitored by the city of Sydney.
This must be...
Oh, wow.
Yeah, I would say almost 20 years ago.
You remember me talking about it?
So it's less than 20 years ago?
Like, how long are you with me, Sean?
So you're 17 years?
Okay, maybe 15 years ago.
Fair enough.
It's good to be precise.
It's very important, actually.
And I remember thinking, I actually spoke up.
I said something to the effect, you're okay with that?
The amount of trash you put out is monitored by the government?
And you're fined if you put out too much for the number of people living in your house?
They were all fine with it.
And these were people who were having dinner with me who liked me.
What I learned was not the long reach of government.
As I said, I've always known that.
But in the last...
I guess 15 years and certainly the last two, I have come to realize the peace most people make with the government controlling their life.
If it's in the name of the environment, the earth, or of course health.
So...
Since everything is now a health issue, everything, what they're doing in China with the social credit system, I could easily see happening here.
Which brings me to Dave in Arizona.
Hello, Dave.
Thank you, Mr. Parker.
Appreciate taking the call, sir.
Thank you.
My concern, I hear a lot of people on the conservative side talk about the people on the left.
I think it's more broad-based than that.
I think it's the establishment class that's looking to turn us into serfs.
But I'm concerned.
I don't know that we make it to 2023 when new Republicans can go into the House and the Senate or to 2025 if President Trump comes back.
I'm not sure what kind of country we're going to have left.
I'm fearful for myself, but especially for my kids.
Unfortunately, they don't think like me at all.
They would love to trade all of their liberty for, quote-unquote, security, which I think they'll get neither.
I'd like to just ask you about your kids for a moment.
How old are they?
The youngest one is 17. The oldest one is 22. She's at Penn State doing graduate work.
The other one will graduate high school in a month.
As a senior.
The one graduating high school is obviously still under your roof in every way, theoretically, not just physically.
Well, there's a wrinkle to that.
She moved out to live with my ex a year ago, the day after the election, because she was a Bernie Barb and she was upset that I still wanted to be a constitutional Republican and conservative.
Well, there is, okay.
She's like, you got lost.
Give it up, Dad.
Give it up.
Sorry, I cut you off.
No, you didn't cut me off.
Well, if you did, it was relevant that you did because I didn't perceive the reality fully.
Okay, I was going to ask you...
I assume your ex is on the left.
I think she's...
She's probably ambivalent about the whole thing.
But I discovered my daughter lived with me.
She left in 2017, the X. My daughter lived with me during the COVID year.
The kids didn't go with her.
They stayed with me.
And I found out what they were teaching her.
And one of the big epiphanies for me, how far she had wandered away from sanity, was she told me one day that President Lincoln would be the most racist president in our history.
That's what she had learned in high school?
Correct.
Yeah, she was a sophomore at the time.
Wow.
Well, to answer your question, the country is not in such imminent danger.
It is in deep danger.
But it'll be around in 2023 and 2025. But we can lose it.
Ronald Reagan was right.
We're always one generation away from losing liberty.
He understood that most people don't yearn to be free.
They yearn to be taken care of.
That's one of the definitions of moving leftward.
I want to be taken care of.
Another definition is life is not inherently problematic.
America is the source of my problems, not me and not life.
That is how the leftist understands the world.
That is almost everything.
The mature individual, maturity is at a premium, the mature individual understands life is rough, life is difficult, life is complex, life is painful.
It's not America.
It's life.
Dennis Prager here.
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