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July 28, 2022 - Sean Hannity Show
32:05
Mr. Softie Is Dead - July 27th, Hour 1

The latest to suffer from inflation and high gas prices is Mr. Softie, the Ice Cream man... with high costs for product and gas prices eating away profits... and unsafe city streets... the day of the Ice Cream man may very well be coming to an end!See omnystudio.com/listener for privacy information.

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Day 347.
Here it is.
And you know, we're heading up to the one-year anniversary, and still Americans abandoned behind enemy lines.
Nobody talks about it.
They've all turned the page.
All right.
Um we told you what was coming.
Consumer confidence yesterday, uh, tanking, and the worst number in what the last number of months.
Uh now we have the Fed today, the Federal Reserve announcing another steep interest rate hike today in their efforts to bring down this 41-year high of inflation, a four-decade high.
The Fed, the panel, federal officials responsible for monetary policy, said they would boost the central banks' baseline interest rate, 0.75 percentage points or 75 basis points.
This is now the second time over the past two months, which is uh it this has not happened since Jimmy Carter and and Reagan came into office and Paul Volcker.
That's how long it's been.
That's the early 80s.
Uh anyway, a very fast increase.
The idea is they want to slow down an overheated economy.
And Fed officials, by the way, have hinted at another 75 basis point rate hike for weeks.
Uh banks uh raised their rates last month uh in to keep up with the the Fed.
Um, and by the way, for the first time since 1994, after inflation surged higher in May than economists expected, the Fed's rapid rate increases now have throttled the the housing market.
And then this is what I told you and predicted is gonna happen, and I'll explain it again because it's important everybody understand where we are.
Uh consumer prices, by the way, uh rose 9.1% in June, 1.2% last month alone, according to labor department data.
And all of this is now going to hit everything.
So much of this, what's so frustrating about all of this is so much of it, as a matter of fact, all of it was preventable.
If we would have kept the economic and energy policies of Donald Trump, we would not be in the position that we're in today.
And and all of you are feeling this.
We now have with the consumer confidence index yesterday declining for the third straight month, drop larger than expected yesterday.
You have 91 million adults in this country now unable to afford everyday household expenses because of Joe's economic policies and because of uh with the inflation and the price of energy.
Joe Biden promised as a candidate, I'm gonna eliminate it.
No more, no more fossil fuels.
Look at my eye, blah, blah, blah.
Now, what he didn't say is that he only meant domestic energy production, which makes no sense at all.
You know, you would think after watching Vladimir Putin and we reported as of today, Vladimir Putin is fully cut Europe by 80% of what he was previously sending them in terms of natural gas and energy.
He has now shifted his supplies to countries like China and India as a means of you know getting his billion dollar profit every day because he's smart enough to sell the natural gas that they have in Russia, and we're too dumb to produce it here.
Uh Anyway, if we did, you know, think of the benefit not only for this country.
Why would we why is it okay to import it internationally?
Why is it okay that he that under Joe Biden last year he imported 684 million barrels of oil from Russia when he inherited an America that was energy independent?
Why wouldn't he finish the Keystone XL pipeline?
Because if it was finished, and it would be finished by now, we'd be taking in 900,000 barrels of Canadian oil a day.
Canada's not an enemy country.
They're not a hostile regime.
They're a trading partner of ours.
It would have benefited Canada.
It would have benefited the U.S. As a matter of fact, they were extremely pissed off when Joe unilaterally gave a waiver to Vladimir Putin so he could finish his pipeline, the Nord Stream 2 pipeline, which is isn't even needed anymore because now he's he's cut back sales of energy to Germany and other European countries because their support of Ukraine and their condemnation of the invasion of a sovereign country.
So now we would be able to take all of that business and be the most energy dominant country in the entire world.
Rather than rather than importing oil or begging the Iranian mullahs that hate us, rather than making them rich, rather than begging the pariah nation as Joe calls Saudi Arabia with their murdering, you know, uh leader, the Crown Prince, MBS, and kissing his ass and ring and begging them to produce more energy so we can import it.
Begging OPEC, and repeatedly they're declining Joe's pleas.
I mean, it's embarrassing, it's humiliating.
And they've all got to be thinking, how stupid is this guy?
You know, or begging Venezuela, sending emissaries to Venezuela.
Why would we make them rich again?
Why are we making Saudi Arabia rich again?
Russia rich again, Iran rich again.
Why are we taking five million barrels of our petroleum strategic petroleum reserves and sending them to China?
Why are we lifting tariffs off China?
Is China now involved in free and fair trade?
No, just the opposite.
Is China stopped their intellectual property theft?
No.
It's gotten worse.
I know people in business that this has happened to.
It's amazing.
Now China says that America's crossed a line because Nancy Pelosi is making a trip to Taiwan, our ally, and now we're crossing a line.
Nancy Pelosi now has to go to Taiwan.
There's no option but to go to Taiwan.
And it's it's this is so maddening.
You know, you look at all, by the way, 40% of Americans having difficulty paying their basic bills every month.
A half of all senior citizens cannot afford essential expenses.
You know, foreclosures are now on the rise.
I'll get to home sales in a minute.
Homes new home sales have dropped to a 24-month low.
This is only the beginning.
The repo man is back.
Motor vehicles are being repossessed at an alarming rate.
The next thing that will follow behind that is going to be foreclosures.
Mark my words.
And in the peak of summer, I told you yesterday about ice cream trucks.
They they can't afford the price of diesel to run their ice cream truck.
It's insane.
Walmart warning investors, prices are gonna be uh, I'm sorry, profits will be drying up.
They're experiencing a slowdown, and Walmart is a store that people would gravitate to in tough economic times because pretty much everything they sell is at a lower price.
And it's only going to get worse from here.
So now we have a 0.75 basis point increase in interest rates.
Well, that's that's gonna follow with rising interest rates for home mortgages, which brings me to the issue of, you know, then of course the big lie, you know, what is a recession?
You know, desperately since last week, the Biden administration, I guess anticipating, seeing the Atlanta Feds prediction, they're predicting tomorrow a contraction in the economy, negative growth of 1.6%.
We'll see if they're right.
If they are right, that would mean by definition, two quarters of of consecutive negative growth means you're in a recession.
But they're trying to convince us that none of that is true.
And they've got their their media mob allies running interference for them.
You know, I can't have been telling you what's going to happen next.
And this is where now things really begin to hurt.
And I know you think you're hurting now, because every time you fill up your car, you're reminded.
And just because they're releasing strategic petroleum reserves to put a band-aid on the high cost of oil, it's a temporary fix, just like the last time they did it.
And then they get to go out and say, see, the the price of gasoline has come down.
Okay, then they'll stop releasing the strategic petroleum reserves because we don't have enough of them.
And the next thing that'll happen, prices will start going up again.
So it's a band-aid solution at best.
New home sales have plunged to their lowest level in two years.
This is what's next.
Now you're going to see new home construction come to a screeching halt.
I've been telling you.
Then after that, sale of pre-existing homes, that will dry up also.
Nobody's gonna want to give up their 2.5, 3.5, even 4% mortgage rate for a 30-year fixed mortgage and trade that in for a seven-year fixed mortgage.
Because you're paying, you know, if you have a $500,000 house and you go, you know, up just two full percentage points, you're paying about $200,000 more over the course of the loan.
That is a massive amount of money.
We're driving people out of the housing market because they keep raising these interest rates.
Then the next thing that's gonna happen after that is home values are gonna decrease.
I don't know if it quote Newsweek, but they actually had a pretty good article referring to this.
By the way, home prices peak, demand is cratering.
That was in the New York Post today.
That was their headline.
Buyer shock.
The seller's market of that was in early spring became a buyer's market, more or less overnight, as large numbers of potential purchases, uh purchasers uh had their spending power dramatically reduced or pushed out of the market altogether by the surging mortgage rates.
Well, that's that's now happening.
Back to Newsweek.
U.S. facing a perfect storm for a 2008-like housing crisis.
Now, I've been telling you now for months this is gonna happen.
Reading from Newsweek, the U.S. is facing a perfect storm for a housing crisis similar to that of 2008, according to Jose Torres, senior economist for interactive brokers.
Torres made the comment during an interview with Insider, and his analysis comes as concerns over the economy, the housing market remain a key issue for millions of Americans.
Housing prices increase through the first half of 2022 as inflation continues to impact every sector of the economy, but the prices could soon come crashing down.
He's warning.
He predicted within the next few years, housing prices could drop as much as 25%.
So many of you are upset at your 401k, your IRAs, the stock market, any any stocks you might own.
Forget it.
That's nothing compared to what you're gonna lose in your in the value of your home.
I'll be albeit temporarily eventually we'll get out of it.
Eventually, hopefully, we elect adults that know the economy again.
Anyway, he said the crisis is fueled by the construction boom that lasted throughout 2021, even though construction has slowed this summer, lowering demand for housing.
He described the phenomenon as a misalignment of timing between supply and demand.
He called it a perfect storm brewing in the real estate market due to a nearly decade high construction levels, dwindling demand.
He said Americans can expect to see a lot like what we saw during the great financial crisis in terms of falling house prices.
At this point, housing is inaccessible when considering household income and personal income.
The percentages of average monthly payments for household income personal income are at record highs, similar to what we saw in 2008.
A housing crash would have far-reaching impact on millions of millions of Americans, adding economic stress on homeowners, potentially forcing many to go into foreclosure, and potentially having a negative impact on other sectors of the economy.
On the flip side, the lower housing prices that come with the crash are general generally viewed as a favorable time for first-time home buyers.
Okay, so some people uh you know benefit, others are gonna suffer.
That's another way of saying it.
Steve Moore said that a housing market crash is a huge concern of his.
Music So even if the Atlanta Fed and their prediction of you know negative growth for the second quarter, which would mean it would meet the dictionary definition of a recession, which is defined as two quarters of negative growth, uh, consecutive quarters of negative growth.
It doesn't matter.
The White House is gonna lie.
We're not in a recession.
Just because they say it doesn't make it true.
Most Americans understand that we are living through very, very difficult economic times.
What I'm sadly pointing out to you, wish I wasn't pointing out to you, is that I predict it's gonna get a lot worse, and I'm urging all of you to be very, very smart in terms of the money you're gonna spend and and the money that maybe the extra money you can bring in.
That's the only way to have a hedge against the economic downturn that we're living through.
And the media mob, I mean, all they want to do is protect every socialist democrat because they buy into this climate cult alarmism themselves.
You have the Washington Post column.
The recession experts don't think we are win-one, and neither do I, for all the talk surrounding the GDP numbers this week, the job market is strong, and so are other key indicators.
We haven't even returned to the full employment levels pre-pandemic.
They're full of crap.
The hacks at the AP are saying the economy shrinking for two consecutive quarters is not the definition of a recession that quote counts.
Yes, it is the definition of a recession.
I quoted uh Norio Rubini, the guy that predicted the 08 uh uh decline.
Uh he's now says we're facing a deep recession.
Interest rates rise, the economy's burdened with high debt loads.
He says, anybody expecting a shallow downturn is delusional.
Listen to this show one time, and you're hanitized.
Sean Hannity is back on the radio.
All right, 25 to the top of the hour.
So, yeah, gas prices have come down, but we're still paying twice what we were paying uh when Donald Trump left the office of president of being president.
And uh, do you think maybe in the lead up to this week where you're gonna get consumer confidence, the Fed's gonna raise interest rates, which they did 75 basis points today, three-quarters of a point interest rate hike, which is gonna raise you know, rates even higher for mortgages, et cetera, loans of any kind.
Um you think maybe they wanted to drive down the cost of gasoline in the lead up to this bad week.
Tomorrow we'll find out, you know, GDP numbers.
Ah, the suspicious side of me says, no, absolutely not.
Um the White House has announced the sale yesterday of an additional 20 million barrels of oil from the strategic petroleum reserve.
Now they sold five million barrels to China, which nobody can get an answer to, and and China is now claiming that we have crossed a line because Nancy Pelosi's visiting Taiwan.
By the way, it's been confirmed she's she had now has to go on the trip.
We have no choice.
She's got to go on that trip.
You cannot be allow yourself to be bullied by President Chi and China.
And someday they tried to bully Mike Pompeo when he went over there.
I did an interview when he was there for the TV show, and they were happy that he was there.
They're our ally.
And, you know, I know that the chairman of the Joint Chiefs, General Milley, has been meeting with what the the his counterparts in 26 other countries, you know, how to create stability, what's going to happen if China follows through on their quote reunification plans, in other words, their plans to invade a sovereign country and take it over and militarize the entire region.
It's uh it's a real danger.
And I'm I don't know if there's an honest answer.
I I I just there's no fear of Joe Biden by any world leaders.
Then it raises, you know, important questions.
Well, why is he giving favored trading status to Beijing and China?
You know, is any of this connected to Hunter and all the millions of dollars that he made and the billion dollar deal he did with the Bank of China?
You know, is that the reason why the Nord Stream 2 pipeline was given to Vladimir Putin while we were simultaneously canceling the Keystone XL pipeline?
Why are we wh why are we now, you know, releasing 20 million barrels of oil from our strategic petroleum reserve?
It is only a band-aid solution.
Because 20 days, if they do a million barrels a day, okay, it'll drive down oil prices, gas prices temporarily.
That's not the answer.
They still steadfastly refuse to go for the simple solution, and that is the domestic production of energy.
We do it faster, we do it cheaper, and we do it cleaner.
Because this fantasy of energy independence with renewables, the technology does not exist.
Wind, solar, whatever.
And of course, they don't like nuclear power either.
That would be a viable option.
I mean, I think what France gets 75% of their electric power from nuclear power plants.
But they're not willing, the environmentalists, the climate alarmist religious cult that runs the Democratic Party would never allow that.
Um I told you the story yesterday about the ice cream man, Mr. Softy, or of good humor.
I loved it as a kid when they came around.
Anyway, many vendors are now saying it looks like it's going to be the end of the ice cream truck era.
And parks, pools, residential areas used to be prime places where they'd hang out.
Uh I remember when the ice cream man would come down my block, I'd be dad, please, that please, that please.
Thank goodness my dad loved toasted almonds from good humor because he wanted one, so as long as he wanted one, he couldn't say no to us, you know, begging him.
Uh, but the sad thing is that, for example, they quote there's one article I saw today, they quote a truck owner in lower New York City and Lower Manhattan, struggling with his decision to raise prices by 50 cents to account for his increased daily expenses.
Guy pays 80 bucks a day for gasoline.
He was paying $15 before the pandemic.
$40 in diesel a day, that's more than twice what he was paying before the pandemic.
He now pays $41 for three gallons of vanilla ice cream.
It used to cost him $27.
He sold ice cream for 27 years, and since the pandemic, he said he's noticed a massive drop-off in demand.
He now takes in as little as 200 bucks before expenses selling ice cream for nine hours.
Sometimes if a regular customer comes to him with two bucks for an ice cream, he'll just sell it at a loss.
He says, I'm I'm 66, I'm tired, adding that he's thinking of selling his truck.
How sad is that?
Um it's pretty sad.
Now New Jersey's gonna chip in up to $4,000 according to Governor Murphy if you buy an electric vehicle.
Here's the problem.
That electric vehicle is $20,000 more.
Where are people going to get the other $16,000?
And by the way, uh, what about all of the mining that goes on to create those batteries for those electric vehicles?
You know, the nickel, the cobalt, the manganese, and all the other minerals that they they use big heavy equipment run by diesel fuel to extract from Mother Earth.
Never mind the fact that most of our energy grid is based on coal and gas, et cetera.
And by the way, there was a Wall Street Journal article.
Don't expect big consumer brands to be lowering their prices anytime soon.
Coke and they go through, you know, all these different companies that were used to dove shampoo, huggies, diapers, big Macs have been raising prices as their costs increase on everything from wood pulp to wages.
The executives behind these global brands are saying that they would keep passing along those costs to shoppers for now.
What have I always said about corporations?
I keep telling everybody, they don't pay taxes.
Once they get a tax increase, they pass it on to us.
Once they get an inflation cost increase, they pass it on to us.
It's not that they're bad people, but they're looking out for their bottom line, and they have a fiduciary responsibility to their shareholders.
It's called business economics 101.
Half of Americans are now falling deeper into debt as inflation continues to boost costs.
That was a CNBC article.
By the way, uh you might not, this may not be popular where you live, but maybe some people get egg McMuffins, but it's kind of like a New York City, New York State favorite.
Like you get a bacon, egg, and cheese on a roll.
And anyway, that's what a lot of people they'll stop by a bodega or a deli to get it.
It's a staple of many New Yorkers' diets.
I used to eat them.
I don't eat so much anymore.
Uh, but anyway, to keep up with inflation, bacon, egg, and cheese, it used to cost 250, it's now 450.
And there's why is it happening?
They have no choice.
If they want to keep their doors open, they want to stay in business.
It's they again, it's not by design that they want this to happen.
And the regular customers are complaining and they're cutting back.
By the way, firms in the U.S. and Europe worth more than 9.4 trillion will report their latest figures tomorrow as a time of concern over the impact of rampant inflation because people are going to spend less because everything costs more.
And they're paying on average a couple is because of Biden inflation is averaging sixty, eight hundred dollars more a year.
If you drive your car to and from work, well, that's costing you another two grand a year.
So, you know, in in the lead up to this bad week on the economy, yeah, oh, gas prices are down a little bit.
Well, look at natural gas prices because they're up 66% for July already.
I mean, it's but it's been going through the roof.
Natural gas prices surging around the world thanks to Europe's dependence on Vladimir Putin and Russian energy.
And now Putin's pissed at Europe because they're supporting Ukraine and they're not supporting his invasion of a sovereign country.
So now he's cut back the supplies 80%.
And now they're selling their energy, their gas, etc.
to other countries like China and India.
And so Europe is just, you know, they're out of luck.
They're now struggling.
There's a story on Fox News.com about an Iowa farmer.
We've had so many farmers calling this program, ranchers calling this program, telling us there's going to be a food shortage coming because we we can't afford to produce the the crops the way we normally would because it's too expensive.
U.S. gas price averaging two dollars higher than it was a year ago.
I mean, how do they possibly, when you have fertilizer prices up what?
They know up about 400% since Donald Trump left office.
Seed money is up about a hundred percent.
It's more than doubled in price.
Consumer confidence for new homes is falling.
Washington Times, Wall Street Journal says the country's facing an economic mess.
They're not wrong.
Pretty smart people at the Wall Street Journal.
White House saying Biden's decision to tap the petroleum reserve.
Oh, caused a 40 cent drop in gas.
Band-aid, not gonna last long.
And now we've got the largest rate increases month to month since Volker.
Unbelievable.
But we do have a vice president that is talking about very important things, like pronouns.
By the way, Twitter just blew up.
And I only know because my staff tells me I don't have access to my Twitter account over the way Kamala Harris introduced herself yesterday.
Let's play that again.
Good afternoon.
Everyone welcome these leaders for coming in to have this very important discussion about some of the most pressing issues of our time.
I am Kamala Harris.
My pronouns are she and her.
I'm a woman sitting at the table wearing a blue suit.
And um I am Kamala Harris.
My pronouns are she and her, and I am sitting at the table wearing a blue suit.
I think everybody at the table knows Kamala Harris.
Other figures at the table introduce themselves with descriptions.
I am a Latina with blonde highlighted hair.
I'm wearing a gray blazer over a black shade dress.
My pronouns are she and her.
I'm a white woman with long brown hair.
I'm wearing a red dress, and I'm wearing a see-through mask, so you can see my red lips.
Another says, I am a black woman with curly hair, and I am wearing a vintage black and floral dress.
With all the world's pressing problems, this is our our vice president is handling the border problems, the economic problems.
Um we have the New York Times in what is now the fourth by my count, just blistering attacks against Joe Biden and the Biden administration.
And even Paul Krugman had to do a mayor culpa of oh, I was wrong about inflation.
They, of course, they're wrong.
When are they going to admit they were wrong on Trump Russia collusion?
One of the columnists, their supposedly conservative columnist, Brett Stevens, is anything but accused Biden of being a failing president who is so weak that the Western world has been left effectively leader to this.
Now, Brett Stevens is no fan of mine.
He should have just said Hannity's been right from day one.
Says the best thing Biden could do would be announce immediately that he's not going to run in 2024.
Okay.
But this is the this is your White House.
75% of Democratic voters want someone other than Biden.
Biden is not going to be the candidate.
I did not pick this up yesterday.
I'm going to try and put it on TV tonight.
Um, because they've made some bad decisions.
Anyway, you know, Biden is already a mess.
Everybody knows it.
Well, what only we had the courage to say very early, now everybody sees.
And they saw it at the time, but they just acted like they didn't see it.
Anyway, so the White House releases a picture that left nothing but questions.
Biden did a live stream, which cut off suddenly.
He looked like he was about to keel over.
Monday, the president's comms team put together a clip of him ranting about the insurrection, and they they shouldn't, they they really shouldn't have.
And you watch, by the way, his vice president was out there saying that the rioters in 2020, they're not gonna stop.
They won't stop.
Take note, beware.
They shouldn't stop.
We're not gonna stop.
They're not gonna stop.
Even after the election.
Anyway, you when you watch the whole thing, he looks so weird.
Brave men and women in uniform across America should not forget the defeated former president of the United States, watched January 6th happen, didn't have the spying to act.
He's now saying that bragging that his Omicron, you know, he he did so much better than Donald Trump with COVID versus Donald Trump.
Omicron 5.0 is not the original coronavirus.
Nice try, Joe.
I mean, not that it matters.
It just none of you know, none of it matters.
By the way, we're gonna do dig down deeper into Senator Grassley's letter to Director Ray of the FBI and to the Attorney General Merrick Garland as it relates to whistleblowers that are saying they have all the evidence and all the proof that people within the FBI and Department of Justice are purposely saying evidence against Hunter Biden is misinformation uh from Russia when in fact it's not.
Pretty unbelievable.
Uh anyway, 800-941 Shawn is our number if you want to be a part of the program.
Uh, we got so much ground to cover today.
We'll check in with Bill O'Reilly, see if he knows.
He used to be an English teacher.
See if he knows what the real definition of a recession is.
You want smart political talk without the meltdowns?
We got you.
Now I'm Carol Markovich.
And I'm Mary Catherine Hamm.
We've been around the block in media, and we're doing things differently.
Normally is about real conversations.
Thoughtful, try to be funny, grounded, and no panic.
We'll keep you informed and entertained without ruining your day.
Join us every Tuesday and Thursday, normally on the iHeartRadio app Apple Podcasts, Or wherever you get your podcasts.
I'm Ben Ferguson.
And I'm Ted Cruz.
Three times a week we do our podcast, Verdict with Ted Cruz.
Nationwide, we have millions of listeners.
Every Monday, Wednesday, and Friday, we break down the news and bring you behind the scenes inside the White House, inside the Senate, inside the United States Supreme Court.
And we cover the stories that you're not getting anywhere else.
We arm you with the facts to be able to know and advocate for the truth with your friends and family.
So down a verdict with Ted Cruz now, wherever you get your podcasts.
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