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Feb. 25, 2023 - Sean Hannity Show
34:40
Economy Failing - February 24th, Hour 1

Home values and new home construction are grinding to a halt.  Personal consumption expenditures index is accelerating, and interest rates are skyrocketing.  Let's admit it... the economy is failing.See omnystudio.com/listener for privacy information.

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What I told people I was making a podcast about Benghazi, nine times out of ten, they called me a masochist, rolled their eyes, or just asked, why?
Benghazi, the truth became a web of lies.
From Prologue Projects and Pushkin Industries, this is Fiasco, Benghazi.
What difference at this point does it make?
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All right.
Thank you, Scott Shannon, and thanks to all of you.
This Friday, 800-941-Sean.
If you want to be a part of the program, what a week this has been.
And like, I like would have been like the person that would, I wanted Trump subpoenaed because I is the four person.
I'd be the person that got to swear him in.
And it would have been so cool.
I would have really loved that.
I can't wait to read what is coming probably sometime next week.
There's going to be blistering legal documents that are sent to the judge in this case.
It is not complicated.
The laws that govern the grand jury in the state of Georgia are clear.
The oath you take as a grand juror that you, quote, shall keep the deliberations of the grand jury secret.
I would love to like have, you know, sworn him in.
I like really liked like Lindsey Graham.
He was like really nice and totally believable.
And Rudy Giuliani, I know like he didn't want to be there, but like then he started talking and I saw a different side of him and everything.
And all these people are going to be indicted.
I'd be really disappointed if they're not indicted in some way.
This is not going to stand.
Do not discuss cases with your fellow jurors or anyone else outside the jury room.
I'd assume that would include not having ice cream parties with the prosecutors in the prosecutor's office, which apparently this grand jury had, according to the grand jury, four person.
You know, you can't make this up.
What a week this has been.
By the way, will somebody buy Donald Trump even had a pair of boots on?
I've known Donald Trump for years.
I don't remember Donald Trump ever being in boots before, but he had enough sense when he went to East Palestine.
Didn't he have boots on?
He had boots on, right?
I saw the pictures.
Mayor Pete, didn't he have dress shoes on?
Why are you wearing dress shoes?
By the way, you could barely get me in dress shoes ever.
I didn't even want to wear them for my nephew's, my godson's wedding.
I didn't want to wear that, and I didn't want to wear that stupid tuxedo he made me wear.
Long story short, but I had to go.
My sister would have had my neck if I didn't show up.
And then it was the most inconvenient wedding of all time.
I mean, it took an hour and a half to get from location A to location B to location C to location D.
I like people that get married in one place.
They have the ceremony and then you go right to the bar and you get a drink.
And then you sit down and you eat dinner.
You can't push back on that and say you like people that get married and don't invite you.
I would prefer people never invite me to a wedding.
You know, I have no problem saying no to weddings.
I now offer money instead.
I'd rather give a big check.
I go offer people.
I say, you want a big, I'll give you a really big gift.
But if I don't go, 95% of people take the check.
You happen to be on the list of people that said, no, I'd rather you show.
And I'm like, no, I'm going to up the amount.
I'm going to get so high if I have to.
I'm getting out of any wedding, future wedding amount.
I'm going to mortgage, please.
Yeah, well, I'll just buy you a house for crying out loud.
I'm begging you.
You know, I'm getting very worried about the poor people in East Palestine.
I don't trust the government.
I don't trust what they're telling the people of East Palestine.
Now, we have new figures that were released by Ohio officials that just came out that the East Palestine train disaster has had a far more devastating impact on local wildlife than we originally thought.
Now, we did see the pictures of dead fish.
We did see pictures of dead chickens and I don't know if they're roosters, whatever the hell they are.
We did see pictures of dead foxes, and we know that people were reporting that they were sick because of this controlled chemical burn.
Now, the Ohio Department of Natural Resources is estimating 43,000 fish and other aquatic animals have died as a result of this train disaster, you know, that took three weeks for Pothole Pete to show up at.
Anyway, the Ohio Department of Natural Resources director announced that 38,222 minnows, 5,550 other aquatic animals, small fish, crayfish, amphibians were killed in a five-mile span of waterway from the derailment site.
Quote, although the dead aquatic species still remain in the impact of waterways, the entirely of the impact of the aquatic life is believed to have occurred in the first 24 hours after the derailment.
Okay, I'm not buying that the water is safe.
I'm not buying that the air is safe.
You know, Christy Todd Whitman told everybody the ground zero's air was safe, and there are still people suffering the impact of 9-11-related illnesses.
And many people in the process have died as a result of that.
Look, I can speak from my own experience.
I knew damn well when I was broadcasting down at ground zero after 9-11 for weeks on end, it was snowing.
It wasn't snowing real snow.
It was snowing dust and debris.
And I would be overlooking outside, overlooking ground zero when I was doing at the time Hannity and Combs.
And it was like we were sitting in a snowstorm of dust.
And it went on for weeks and weeks and weeks.
And we weren't down there for 12, 14 hours a day in the middle of that debris without the proper masking or the proper respirators that those guys needed.
But yet they were being told it's safe.
Similarly, I'm not going to believe, especially after COVID, I'm not going to believe the word of any government official.
When you tell me that the air is clean and the water is clean in East Palestine, I don't believe it at all.
Now, if there is a group of scientists that go in independently and care about the people that want to get back to their homes, which, by the way, I'm sure all of them do, I'm sure the financial burden on these families is unprecedented.
And I would think that this should have immediately been declared a disaster area.
It wasn't.
But you're not going to convince me that the air and the water in East Palestine is clean right now.
And I'm not telling people what to do.
I am telling you, I don't believe them.
You can believe the people all you want, but I'm not trusting them.
I'm not believing them.
And until there is a credible, independent environmental study, impact study, that I find believable, I'm not trusting what these people are saying because it's so easy.
It's too difficult.
They got to build housing and temporary housing for all the residents that have been displaced in the area.
How far out are areas impacted?
Did it go deep into Pennsylvania?
Did it impact the water in the air in Pennsylvania city?
See, because it's right on the border.
We don't know.
I'm just sick and tired of people just mindlessly believing government officials.
I don't believe any of them.
And they've been way too slow to act.
And that just pisses me off even further.
I've been holding this economic news for most of the week, and none of it is good.
It's all bad.
And I'm only telling you, my audience, because I want you to be prepared for the absolute worst here because a lot of the predictions I'm seeing and the numbers I'm seeing are downright scary.
Steve Moore wrote a great piece in the New York Post.
It was there yesterday.
I mean, he's pointing out that Joe Biden has added nearly $7 trillion now to the debt.
And if you look at the projections by the Congressional Budget Office, we're now projected to go to $50 trillion in debt.
That would make this economy in the end unsustainable.
We got other bad news.
The Federal Reserve's preferred inflation gauge rose last month at its fastest pace since June, which is an alarming sign that price pressures remain entrenched in the U.S. economy.
That could lead the Fed to keep raising interest rates well into this year.
It means that those that have been predicting a recession are more likely going to be proven right than wrong.
We now have people who are saving, growing number of Americans who are struggling to put away any money for an emergency because of high inflation and climbing interest rates.
More than a third of respondents are saying that last month they have more credit card debt than emergency savings.
That's not good.
That's two-thirds of our fellow Americans.
That's unsustainable.
The U.S. housing market, I told you months and months before it happened what was going to happen, has now seen a $2.3 trillion drop in value, which is now the biggest since 2008.
What did I say would happen?
I said eventually new home construction would come to a screeching halt.
I said that sale of pre-existing homes, that too would come to a screeching halt.
Then I pointed out with interest rates, nobody's going to move.
And home values are going to deteriorate, at least on paper, at least for now, until we get out of the economic mess that we're in.
By the way, if you take a federal government internship, they pay $50,000, $60,000 a year for student trainees.
Can you believe that?
You know, that's about the cost of any professional.
The three major signs that inflation is getting worse, the personal consumption expenditures price index, which is the federal government's preferred measure of inflation, accelerated again last month, rising at a higher than expected level of 5.4%.
The consumer price index increased more than expected and accelerated from last month.
And the producer price index accelerated from last month and rose more than expected.
That's all bad news for the American economy.
And when it comes to debt in general, Joe Biden is the $7 trillion man, and nobody's holding him accountable.
You know, how are we going to eventually pay this back?
It seems like online hiring is cooling.
The job market is beginning to cool, which, by the way, was something Lawrence Summers suggested might be necessary if we want to get a hold of the inflation problems that we have.
The popular artificial intelligence bot called ChatGPT, they were forced to admit that global warming has flattened in recent years.
Well, maybe they can stop the impact of the economy on new Green Deal socialism.
And maybe we can go back to, instead of importing 3 million barrels of oil from Venezuela, which we're now doing because of Biden, maybe we can produce it domestically.
But Biden inflation is here to stay.
I mean, the deficit is set to hit $1.4 trillion this year alone on top of the $7 trillion.
Biden has already taken on a new debt.
But all of this is not good for the American consumer.
National debt under Joe Biden is on course to double in 10 years, according to the Congressional Budget Office.
Anyway, they updated their budget and economic outlook for the decade ahead, projecting the federal budget deficit will average around $2 trillion a year over the next 10 years.
This is why Republicans need to use the leverage they have with the majority in the House and get some type of spending restraints on the federal government if they want the debt increased.
I would not do that and get nothing out of it.
U.S. existing home sales declined in January a record 37% year over year.
I mean, you can't get a worse economic report than what we have out here.
Household debt is now skyrocketed to the highest level since the 2008 financial crisis.
Americans are drowning in credit card debt because of Biden inflation, and it is depleting people's savings.
And now people have tapped into their 401ks and their pension plans, and they're taking a big financial tax hit as a result.
The Biden inflation nightmare is costing retirees a full 10% of their savings in 2022.
I mean, none of this is sustainable.
You know, how do you feel about a $50 trillion debt?
Because that's where we're headed by 2023, according to the estimates.
And Kamala Harris is claiming that Biden has reduced heating and electric bills when, in fact, electricity is up 12%, fuel costs are up 28%, and natural gas is up 27% year over year.
So none of that is true.
And now Americans, as a result, are emptying out their emergency funds and putting their debt on credit cards.
Morgan Stanley is warning the stock market has entered the death zone.
If that doesn't scare you, I don't know what will.
Walmart says they have a lot of trepidation about the economy.
If Walmart is struggling, let me tell you, that's the place where people go when they have less money to buy things.
And if they're not going to Walmart, that's a sign that things are getting bad.
And then I told you about Lawrence Summers predicting that the U.S. economy is headed for a crash, a collision, or a crash, depending on which words you want.
Said when the brakes don't get much traction, two things happen.
You can be moving too fast.
That's the inflation pressure.
Or you can be setting yourself up for a collision or a crash down the road.
Both of those things, I believe, are real risks in this economic environment.
And meanwhile, military families are being told by the Biden administration yet again to rely on food pantries and food stamps and sign up for government assistance.
Why don't they pay him enough money?
You have one Michael Wilson, chief equity strategist of Morgan Stanley, says U.S. stocks are in what is called a death zone and is predicting a 26% decline.
Listen, I don't play the market.
I don't advise that you play the market, but I'm telling you this information, put this in your head and realize this is real and it's going to impact every American family over time.
So I know a lot of you have been inundating our calls lines for television because, you know, we have last call and we've also been doing these audience shows.
And we had no idea that the demand for the audience shows, and it's absolutely free, would be as high as it is, but it's through the roof.
Everyone tells me that they just, it gives a different feel to the show.
People like it better.
It's nice.
I mean, there's something to being in the studio in New York City, all the things.
And it's free and they can see you.
Anyway, so what we did is we've set up on Hannity.com a place where you can sign up.
The tickets are absolutely free.
Like next week, we'll be doing them all five days.
Just go to Hannity.com and find out how you can sign up and get free tickets.
And it's front and center, boss.
You can't miss it.
Right in the center of the page, as soon as you get there.
Yeah, we throw footballs around.
We have a blast when we're not on the air.
I can't, you have to be there to see what goes on off air.
Anyway, Hannity.com if you want to come see The Hannity Show on Fox.
We'll continue.
Get your dose of independence and liberty every weekday right here on The Sean Hannity Show.
All right, 25 to the top of the hour.
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Now, our friend Kamala Harris is back in the news, not for anything particularly good.
She comes out at the, I guess this was at the White House or at some event, and, you know, nobody says, nobody even claps.
Then they tell people to clap, and they still don't clap.
Listen.
Please stand as she enters the room.
Hello, everybody.
You can clap.
There's the giggles.
I don't know where the giggles come from.
And she's obsessed.
Do you know what a Venn diagram is?
You have no idea.
I mean, I'm sure I learned it at one point.
Well, Kamala Harris is obsessed with it.
I got a montage of her obsession with it.
And what we are also saying is that if you look at, you know, I like Venn diagrams.
Okay.
So if you look, I do.
So let me tell you, I love Venn diagrams.
I love Venn diagrams.
You know the three circles.
I love Venn diagrams.
You're just cracking up, right?
Among the many things that I like, I love Venn diagrams.
You know, the three circles.
I love Venn diagrams.
I just, like, just throw it into a Venn diagram.
I'll tell you everything you need to know about any issues.
I love Venn diagrams.
Let me just tell you.
I really just love Venn diagrams.
I love Venn diagrams.
Okay.
I really do.
I love Venn diagrams.
You know, the three circles.
Sometimes there are more.
She loves Venn diagram.
You know who loves Venn diagrams?
Katie.
I was just saying to Katie, I would never look at the three circles and how they overlapped and what was in what box, yada, yada, yada.
And say, oh, that's a Venn diagram.
I would never say that.
And she was like, what?
Yes, you would.
You would look at it and you would say, that's a Venn diagram.
I'm like, no, I wouldn't because I'm not Kamala.
Do you know what a Venn diagram is?
She knows.
She's very excited.
Yes, I was just describing it.
I was trying to be nice, but never mind.
Oh, no, I wouldn't say nice.
She was excited.
Well, you got to speak into your microphone.
What exactly is a Venn diagram?
Go ahead, Katie.
What is it, girl?
Get into it.
No, no, I'm terrified.
Leave me alone.
Why is it like ice cream?
Why are you terrified?
It's icy hot.
Wait a minute.
What is a Venn diagram?
It's a grab.
It uses circles to, you know, describe whatever it is that you're trying to describe.
And obviously, Kamala is a big fan of them.
And I was just trying to be nice to Linda and describe it for her.
Because I said to her, I said, never in my life.
Wait a minute.
But I look at these circles and go, oh, a Venn diagram.
You're not helping me.
What is a Venn diagram?
A Venn diagram, it uses circles and they overlap.
So for instance, if you had, you know, say you're trying to say what's cold or hot, right?
So you would have a list of in one circle, something that was hot, and another circle would be something that was cold.
And then when they overlap, it's whatever is both.
So for instance, like icy hot, right?
It's hot and cold, something like that.
So I was trying to be nice and obviously.
And I'm clearly not.
That's what that means.
I'm trying to be nice.
I thought that was hilarious because I was like, I don't know.
As bad as this vice president is, I think she scares me more.
I really do.
Well, maybe you should put your fears and your likeness of her and all the things that you feel about her in a Venn diagram and then see where the crossover is.
And then you'll know.
I mean, the way she speaks, it's like if she's not giggling uncontrollably, she speaks to people like they're children, like first graders.
I've never seen anything like it.
Anyway, she goes on this riff and nobody wants to applause when she walks into a room.
Jill Biden has spoken out and said, how many more times do we have to say Joe is running?
Apparently top Democrats are preparing for him not to run.
And then she came out and clarified all of this for Joe.
Isn't that something that you expect the president to do for himself, but apparently not?
Well, the president is Obama, Sean.
It's not Biden.
Marine Jean-Pierre.
Yeah.
She said that, well, we'll play it for you.
This is what she did.
Today, as you all saw, just an hour or so ago, President Obama announced that, pardon me, President Biden.
Whoa!
That is news.
Remember, the media would get furious if somebody accidentally said, I have free called Obama Osama.
Remember that would happen occasionally?
Oh, that was an unforgivable offense by people.
I think you should know how helpful our audience is.
How helpful.
On this beautiful Friday that we're having.
People are texting me pictures of Venn diagrams.
They want me to understand them better.
They're emailing me.
And Katie has just explained she's going to do a Venn diagram.
Well, maybe I should do a Venn diagram on television tonight so everybody can understand what you're doing.
Bring Katie on.
She's going to talk about all the things she hates and loves about me because I made her do this on air and then figure out where the crossover is.
There's more hates.
By the way, people are asking, if you want to come to the Hannity TV show, it's free.
Go to Hannity.com and get free tickets.
People say, where do I go to get tickets?
I just told everybody, Hannity.com.
You can sign up.
So the House Judiciary Committee, Jim Jordan, Matt Gates, they were on TV last night, and they held a border security hearing at the border.
And there were no supporters of Biden.
Nobody, no Democrat on the committee decided to go and have a real hearing at the real location where the real problem exists.
You had an elated crowd inside a Yuma, Arizona City Hall.
They were cheering for Homeland Security Secretary Alejandro Mayorkis' potential impeachment.
I mean, they have been lying to us.
Oh, the border's secure.
The border's secure.
The border is not secure.
We know that the border is not secure.
We've known forever it's not secure.
And we know by the numbers of people, over five plus million people in two years crossing the border, you know, hundreds and hundreds of pounds of fentanyl, enough to kill every American five times over.
Then we have heroin and meth, and cocaine and human trafficking at a level we've never seen before.
The issue of China and Russia keep coming up, and it's coming up for a reason: is that I don't think Biden has a clue except to send money, good money after bad.
Now, the more I get into the actual finances of how much the United States is paying versus all of Europe, all of Europe has paid around $30 billion.
This is Europe's conflict.
This is war in Europe.
It's not war in North America.
It's not war in the United States.
Now, if Canada was invaded by Russia, we would have a geopolitical interest in helping Canada, you know, and be in the forefront of helping them.
But, you know, if you're in Europe and you're watching Vladimir Putin aggressively, you know, kill innocent men, women, and children, which anybody with a heart and soul would condemn, and it's a sovereign country.
I'm not saying it's a perfect country, but this Ukrainian war was started by Vladimir Putin.
These are his territorial ambitions.
My biggest problem is that Joe Biden has steadfastly refused to allow Western European countries, not the U.S., to provide fighter jets that are necessary if they have any inclination of ever trying to win the war.
And this thing now has gone on for a year.
And the amount of money that we've, between what we've pledged and given, is now $130 trillion.
And yet we're fighting for a stalemate.
We're fighting for, you know, we're basically involving ourselves in what ultimately will be a quagmire, you know, unless somehow Vladimir now partners, and this is a real fear that, you know, President Xi and Vladimir Putin are strengthening their alliance as well as with the Iranians, as well as with North Korea.
And one has to ask, well, you know, what is the end goal here?
And I understand the human component and an imperative here, but if you're not going to fight to win the war, there's no reason to be involved financially at all.
And there's no inclination that Europe has any interest in providing the munitions to defend their continent.
And if they don't want, if they're not going to take it seriously, why should we be paying all this money?
President Zelensky gave a qualified support Friday for China's pronouncements about the war in his country, saying Beijing's interest is not bad, might be useful in isolating Russia.
I don't think so.
I think the more likely outcome is Putin and President Qi are going to align, and President Qi will be demanding that Putin support his territorial ambitions in Taiwan, and President Xi in exchange will continue to support Vladimir Putin and Russia's territorial ambitions in Ukraine.
I think that is the more likely outcome.
So Zelensky at a news conference saying our task is to gather everyone to isolate the one, meaning Russia.
He says China has shown its thoughts.
I believe that the fact that China started talking about Ukraine is not bad, but the question is what will follow the words?
The question is, you know, in the steps and where this will all lead to.
China called for a ceasefire and peace talks between Ukraine and Russia in a vaguely worded proposal that they released today that analysts said is very unlikely to deliver results.
And with President Xi going to visit Vladimir Putin, I don't think anything's going to happen.
On top of that, Janet Yellen is now saying that they're going to commit another $10 billion.
The Pentagon announced a new package of long-term security assistance for Ukraine today, another $2 billion in drones and ammunition and aid to Ukraine.
M1 Abrams tanks that Biden promised Ukraine may not be sent this year at all or next year, according to defense officials.
And then we have Tony Blinken justifying reducing our own military stockpile and helping Ukraine.
We cannot reduce our military preparedness in an effort to help Ukraine.
And then everyone's asking, well, why is Biden putting all this effort into Ukraine, but then putting handcuffs on Europe?
If Europe wants to fight an air war against Russia, let them fight it.
We're not providing the jets, nor should we provide them.
So I don't think this is going anyway.
Top European Union bodies citing security.
They're now banning TikTok.
That's only going to piss off China.
China, you know, their call for peace talks, I think, are rather meaningless.
You know, new sanctions that the U.S. has slapped on Russia over Ukraine doesn't mean a thing because Joe Biden has made it possible by giving up energy independence and being a net exporter of energy.
He's basically given a free and clear market at higher prices for Putin to get as much money as he needs to pursue whatever territorial ambitions he has.
Six countries now have joined Russia in opposing the UN resolution for peace in Ukraine.
It shouldn't surprise anybody.
Belarus, North Korea, Syria, Mali, Nicaragua, all joining Russia and opposing the declaration.
You know, so 32 countries abstained from the vote.
They want no part of any of this.
In the meantime, nobody's paying attention to North Korea test-firing four cruise missiles to demonstrate their nuclear combat force, according to their state media.
The U.S. is expanding their presence in Taiwan for training against the China threat.
You know, does anybody really believe Joe Biden, if in fact President Xi follows through on his promise for reunification with Taiwan?
Does anyone really believe that Joe Biden's capable or willing to do anything at all to stop China?
Because I don't think he is.
You know, we still have no answers, by the way, as it relates to the balloon.
Why was the balloon in U.S. airspace?
We don't have an answer.
Why were they tracking it beforehand but didn't shoot it down earlier?
What were the other three objects that they shot down?
And why did they shoot them down?
And why do you shoot at an object that you don't even know what it is?
One other issue involving Taiwan, U.S. is boosting its troop deployment in Taiwan.
Are you telling me that if China invades Taiwan, that American troops are going to be fighting on the ground in Taiwan?
Is that what Joe Biden is telegraphing?
You have one top defense official warning that the growth of China's Navy is dramatically outpacing America's.
I believe that.
Great Britain is making economic contingency plans in case China invades Taiwan.
That's not a good sign.
That means their intelligence is telling them that this is a very strong possibility.
One top Chinese diplomat on his way to Russia is offering Russia aid and telling Biden to butt out.
Doesn't sound like they're backing off the U.S. in any way, shape, manner, or form.
But Joe Biden is assuring the country that there's no evidence that Putin would use nuclear weapons and no evidence that Xi will invade Taiwan.
I don't know what, I have no idea what reality he's living in, but it's not a reality that is anywhere near the truth.
That's for sure.
You want smart political talk without the meltdowns?
We got you.
I'm Carol Markowitz.
And I'm Mary Catherine Hamm.
We've been around the block in media and we're doing things differently.
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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.
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We arm you with the facts to be able to know and advocate for the truth with your friends and family.
So down on Verdict with Ted Cruz Now, wherever you get your podcasts.
What I told people, I was making a podcast about Benghazi.
Nine times out of ten, they called me a masochist, rolled their eyes, or just asked, why?
Benghazi, the truth became a web of lies.
From Prologue Projects and Pushkin Industries, this is Fiasco, Benghazi.
What difference at this point does it make?
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