Young black kids growing up in the Bronx who don't even know what the word computer is.
Well, in terms of his campaign, you know, I am thinking back, and other people are making this reference, that this may be Biden's Vietnam.
If Roe v.
Wade can fall, anything can fall.
Social Security can fall.
And God help us all, but democracy itself can fall.
T minus 179 days left till you get to vote.
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Our toll-free art number is 800-941-Sean, if you want to be a part of the program.
I go back to this issue as Joe Biden, you know, it's really frustrating to me.
He's just outright lying.
It's sort of like him saying, the border is secure.
The border is closed.
No, it's Trump fault three years later.
No, it's Biden.
They were bragging about everything they've done.
And it's a disaster.
Just like, you know, defund, dismantle, no bail laws are a disaster.
Just like the economy has been a disaster, just like foreign policy is a disaster.
Anyway, you know, he's so clueless and out of touch.
You know, after being told that grocery prices are up 30%, a very rare sit-down interview became a disaster for him on fake news CNN.
And by the way, even Aaron Burnett didn't actually have the nicest things to say about Joe Biden, which I thought was pretty interesting.
But anyway, this is Joey, your president, trying to put a positive spin on the economy.
And it just shows how clueless and out of touch he is.
And remember, inflation in the last two months, CPI numbers went up 3.2% year over year and 3.5% up year over year.
Okay, what does that mean?
Inflation is not going down.
That's 3.5% up from last year, year over year.
And he inherited inflation rate of 1.4%.
But anyway, he's not living in the real world.
Listen.
You're aware of many of these, of course.
The cost of buying a home in the United States is double what it was when you look at your monthly costs from before the pandemic.
Real income, when you account for inflation, is actually down since you took office.
Economic growth last week, far short of expectations.
Consumer confidence, maybe no surprise, is near a two-year low.
With less than six months to go to Election Day, are you worried that you're running out of time to turn that around?
We're already turning it up.
We have the strongest economy in the world.
Let me say it again, in the world.
Although GDP last week was far short of expectations.
Oh, it wasn't.
Look, GDP is still growing.
Look at the response of the markets.
But there's real pain.
I mean, grocery prices are up 30%, more than 30%, since the beginning of the pandemic.
And people are spending more on food and groceries than they have at any time really in the past 30 years.
I mean, that's a real day-to-day pain that people.
But the fact is that if you take a look at what the men people have, they have the money to spend.
And I played this earlier, but it's worth playing again.
David Axelrod keeps saying, oh, well, the economy improved.
He doesn't even believe that.
But he's saying that he's out of touch with the American people.
And this pride of his may cost Biden the election.
That part interests me.
Listen.
That's not the way people are experiencing the economy.
They're experiencing it through the lens of the cost of living.
And he is a man who's built his career on empathy.
Where is why not lead with the empathy?
And I think he's making a terrible mistake.
You know, it may not be, if he doesn't win this race, it may not be Donald Trump that beats him.
It may be his own pride.
And John King pointing out that Biden better be careful with all this positive economic talk.
They have tried this Bidenomics game forever.
Let's push Bidenomics.
We're not going to talk about Bidenomics anymore.
No, let's go back to Bidenomics.
Anyway, here's even John King trying to warn him.
I can tell you from my travels eight months now, nine states now, he has to be careful with that in the sense.
He's right.
When he cites statistics, he is right.
When he says the Michigan Consumer Confidence Survey, 65% say they're doing better off.
Guess what?
The 35% who don't, a lot of those are his voters.
They should be his voters when you travel the cost of living.
In Michigan, with those younger voters, we also are starting to put together a group of autoworkers.
Their union has endorsed Biden.
Most of them are going to vote for Biden.
But you asked them what life is like, and they can't buy a bigger house because of mortgage rates.
They still, when you talk about grocery prices.
And so the president has to be careful here.
That sounds like somebody in Washington telling people you're wrong.
And whatever your party is, voters don't process it that way.
They don't like that.
All right.
Joining us now on the real state of the economy, Vance Jinn is with us, former chief economist for the Office of Management and Budget, currently founder and president of Gin Economic Consulting, host of Let the People Prosper podcast.
Our friend E.J. Antoni, public finance economist at the Heritage Foundation.
Welcome both of you.
You know, you would think E.J., with all the bad news and inflationary pressures coming back in dramatic ways and all those expected rate reductions that are not going to happen or materialize and the soft landing that's not materializing.
You would think that Joe would have gotten the message by now.
But apparently, I guess the people around him are too gutless to tell him the truth about the economy.
Well, Sean, either that or they've told him time and time again, and the old man just can't remember.
I mean, honestly, at this point, I don't know what is worth it.
What is worse?
Is the president just senile and doesn't remember the facts, or is he just a complete and total liar?
I mean, you outlined it very well already, Sean, where inflation actually was 1.4%.
It didn't get up to 9% until a year and a half into his presidency.
And by the way, President Trump handed Biden an economy growing at a $1.5 trillion annualized rate.
By the time Biden managed to achieve that 9% annual inflation rate, he had turned that into two consecutive negative quarters of economic growth.
In other words, a recession.
Yeah.
Hey, Vance, let me ask you, what's your take on all this happy talk?
And do you agree with even Axelrod and John King that he better be careful?
The American people are living a very different reality.
60% of Americans living paycheck to paycheck.
And then we learned about a week and a half ago that about 26% of Americans in the last year have struggled to even put food on their table.
The worst of any of the G7 nations.
I mean, that ought to shock the spine and soul of anybody that cares.
Well, it should.
It's a pleasure to be with you, Sean.
And I think you're exactly right.
What you're talking about here is that the president is just on a different planet.
He doesn't see exactly what's going on in the economy.
I know they've got to talk up the economy as much as possible, given Bidenomics and everything else.
But the fact is that this is a dismal economy.
Whenever you have real, meaning inflation-adjusted purchasing power or average weekly earnings are down about 4% since Biden took office, people can't keep up with everything that's going on around them.
And it's just one thing after another.
They don't have enough in savings to pay for a rainy day or get their tires fixed.
And so while they like to tout the jobs numbers that keep coming out, and of course they keep being revised down lower, and then they'll say, you know, the unemployment rate is 3.9%.
It's been below 4% for so many months.
But yeah, if you include the labor force participation rate that is lower, even compared to February of 2020, the unemployment rate would be higher than 5%, closer to 6%.
So this is not a good economy, high inflation, a stagnating economic growth.
So it's a period of stagflation that is going to continue because of the big government spending policies out of D.C. and the Federal Reserve printing more money than what they know what to do with.
So this is a bad situation for Americans.
I'm glad you said stagflation because I think I'm the only one that's been saying we're in a period of stagflation because we are.
And look, I'm not the expert on the economy.
Both of you are.
This is your business.
However, instinctively, and I understand you could never time the markets.
If you try to, you're being stupid.
I think wealth preservation for many people is way more important than maybe a higher rate of return that they might get investing in the stock market or what they might have gotten in recent years.
But I just, in my gut, I have a feeling that we are headed for a massive correction, and I think things are going to get worse.
The inversion scares me, E.J., and I don't know when it's going to happen, but I'm pretty certain it's going to happen.
Do you agree or disagree?
Sean, I agree, and I think a lot of other investors do too.
And this is a big reason why what you would normally see as typical flights to safety, things like gold, have been on an absolute tear this year.
A lot of people have lost confidence in this economy, in the government, in the market, etc.
And so they're not as concerned, as you were saying, they're not as concerned with a return on investment.
They're more so concerned with just trying to preserve their wealth because you have this dual threat today of low economic growth and also inflation.
As you said, this is the stagflation recipe that was so detrimental to investors in the 1970s, and it's coming back to bite us today.
In most of the 1970s, Sean, investors saw a huge positive rate of return, at least nominally.
But then once you took out inflation, it was deeply, deeply negative.
You know, Vance, let me ask you this, because I reduced my exposure to the market as much as I possibly could without penalty.
As you know, you can move money out of the stock market or funds that you might be a part of into treasuries, which were, you know, one, two-year treasury is paying what, a little over 5% of the time.
I'll take 5% in terms of a return on my money, but knowing it's safe over risking what I think could likely happen maybe sooner than later, which is a major correction in the stock market.
And I mean a major one.
Yeah, I think you're right, Sean.
And one thing you want to look at is the PE ratios, price to earning ratios, which are still well above historical norms.
And so we are due for what I believe to be a major correction.
And we've been propped up here and there.
And every time that Jerome Powell at the Fed talks, you see wild variation and volatility in the stock market.
And this is what happens whenever you have government is basically controlling the economy through government spending, through taxes, through regulations, and through money printing.
This is a socialist economy that creates a situation of less economic growth and higher inflation and people having so much uncertainty about the economy, whether their businesses, whether they're going to continue to advance and be able to hire workers, or from your point, about the amount of returns they're going to get on their investments.
And one thing I would say also about the economy and the labor market is while non-farm employment has continued to increase, over the last year, the household employment is essentially flat.
It's been down for the last five months.
So we're already starting to see this slowdown in economic activity hitting Americans hard across the economy.
Yeah, and it's hurting a lot of people that I know.
All right, quick break, right back.
More with Vance Ginn on the other side, as well as E.J. Antonio.
We'll get to your calls coming up as well.
800-941 Sean, if you want to join us.
All right, we continue.
Our economic gurus, Vance Kinn is with us, as well as E.J. Antoni.
Here's the most frightening thing.
Let me play for you this guy, Jared Bernstein, who's the chairman of the Council of Economic Advisors.
By the way, he doesn't have any background educationally in the economy.
All right, just put that out there.
He's the White House Council of Economic Advisors chair.
And anyway, he was interviewed for a new film called Finding the Money, and it's a documentary.
And he said the U.S. government can't go bankrupt because we print money.
His ignorant level, his ignorance level is so high.
I'm shocked.
EJ, listen to this.
Like you said, they print the dollar.
So why does the government even borrow?
Well, I mean, again, some of this stuff gets some of the language that the MMS are just confusing.
I mean, the government definitely prints money and it definitely lends that money, which is why the government definitely prints money and then it lends that money by selling bonds.
Is that what they do?
They sell bonds.
Yeah, they sell bonds, right?
So they sell bonds and people buy the bonds and lend them the money.
Yeah.
So I don't get it.
I don't know what they're talking about.
Like, because it's like the government clearly prints money.
It does it all the time.
And it clearly borrows.
Otherwise, we wouldn't be having this debt and deficit conversation.
So I don't think there's anything confusing there.
How chilling is that, EJ?
Sean, that explains very, very well why we are in the economic shape we are today, because those are the kinds of people at the helm in the White House.
Somebody, as you said, who has no economics background.
He's a musician-turned social worker, and somehow that landed him as chair of the Council of Economic Advisors.
I mean, this is absolutely insane, but it helps explain how we have gotten such disastrous policies in place to create stagnant economic growth, runaway inflation.
I mean, it is absolutely appalling that people like this can be allowed anywhere near the levers of power.
Yeah, unbelievable.
We'll give you the last word here, Vance, and we have to run.
Yeah, no, it is unbelievable.
I remember being in the White House and talking with the chair at the time with Kevin Hassett.
He would never have answered it that way in the Trump administration.
And there was a totally different type of economic policy, one of reducing taxes, reducing regulations, and allowing for people to have more individual liberty and freedom.
That's what's going to create more opportunities to prosper, not this MMT, modern monetary theory nonsense that Jared Bergese may or may not know about, but plenty in the Biden administration do.
And it's exactly what happens in places like Venezuela.
The government definitely prints money, right?
Is that right?
It definitely prints money and definitely lends money, right?
Right?
Wow.
That's pretty frightening.
Anyway, I do know I trust you guys a hell of a lot more than I trust this guy.
Anyway, Vance, thank you.
EJ, thank you.
Appreciate both of you.
800-941-Sean, if you want to be a part of the program.
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Catch new episodes of Normally every Tuesday and Thursday.
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Hey there, I'm Mary Catherine Hamm.
And I'm Carol Markowitz.
We've been in political media for a long time.
Long enough to know that it's gotten, well, a little insane.
That's why we started Normally, a podcast for people who are over the hysteria and just want clarity.
We talk about the issues that actually matter to the country without panic, without yelling, and with a healthy dose of humor.
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800-941-Sean, if you want to be a part of the program.
Well, we all know what happened on October 7th, the worst terrorist attack in Israel's history.
And we now have hundreds of thousands of displaced Israelis.
They are in need of bare necessities.
And thankfully, our partners at the International Fellowship of Christians and Jews, they've been on the ground from day one.
They're trying to address every urgent need.
And there are so many bare necessities, food, housing, supplies.
They're also actively involved in strategically placing these mobile bomb shelters that really work.
And also, they have to stock them because they need emergency supplies for 20 people because they may be in there for some length of time.
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You know, speaking of Israel in this fake news CNN interview, you know, here's Joe Biden.
Pay very close attention because he's saying he will withhold weapons from Israel if they go into Rafah, going into Rafah what?
Why?
To win the war against the radical Islamic terrorist group funded by, orchestrated by, the number one state sponsor of terror, Iran.
And Joe is emboldening the radical extremists because he needs to give into his radical base.
Listen to Joe.
I made it clear that if they go into Rafah, they haven't gone on Rafah yet.
If they go into Rafah, I'm not supplying the weapons that have been used historically to deal with Rafah, to deal with the cities, to deal with that problem.
I've made it clear to Bibi in the war cabinet.
They're not going to get our support if, in fact, they go on these population centers.
We're not walking away from Israel's security.
We're walking away from Israel's ability to wage war in those areas.
So it's not over your red line yet?
Not yet.
But we've held up with the weapons.
We've held up the one shipment as an old shipment who has been designed for them.
We've held that up.
Now, we had a very different Joe Biden from 2019.
This is Joe Biden saying we'd never abandon Israel.
Oh, very consistent in terms of his logic and thinking.
You see, in 2019, he didn't have this radical pro-Hamas wing of his party that now dominates the radical leftist Marxists that are the Democratic Party of today.
Listen.
But the idea that we would cut off military aid to an ally, our only true, true ally in the entire region, is absolutely preposterous.
It's just beyond my comprehension.
Anyone would do that.
Unbelievable.
Abandoning Israel, emboldening our enemies, surrendering in the war on terror.
That's what your president is doing.
All right, let's get to our busy phones.
800-941 Sean, if you want to be a part of the program, the Free State of Florida.
Matt, how are you, my fellow Floridian, sir?
Glad you called.
Well, I'm doing a lot better than I could be, I guess, but I could also be doing worse.
The fact of the matter is, is that you have to win a war.
You have to win it quickly, like President Trump said.
The fact of the matter is, is they could have already finished this.
What they did is they pushed them all the way back.
They pushed them off all the way back to Rafah and then stopped to try to stop on the collateral damage.
But this is not how you win a war.
They need to just go ahead and move forward.
Now, Joe said that he's not going to send them any more bombs.
Okay, then they need to come out like this.
They need to do, like you had said, get the bombs from someone else or just say, okay, well, we're not going to bomb Gaza, but we will be moving our infantry and do a ground war and take Rafah out street by street, block by block, terrorist by terrorist, and just don't stop.
And they need to pamphlet the area, tell everybody to get out, give everybody.
See, I actually disagree with that strategy.
I don't have a problem with saying to innocent people that they should get out, but you know that Hamas terrorists will be amongst the civilian population because that's how they roll.
However, I don't think we should ever go back to fighting a war the way we were fighting the war, for example, in Iraq, and that was putting U.S. soldiers on the ground, not going door to door, stepping over one IED after another, or stepping on them and having your legs blown off if you even survived.
No, I think with military technology, precision, targeting of the enemy and weapons and their infrastructure, I think that's the way to do it.
And I would use that sophisticated technology.
But I think the bigger story here is Joe Biden has surrendered in the war on terrorism, and he's surrendered and abdicated America's role as the leader of the free world.
There's no other way to put it.
Yeah, well, the thing of it is, the same way with the Pope, the Pope saying, oh, I wish they would show restraint against the people of Roth.
I wish they would show restraint against the people of Gaza.
What happens is nobody's saying, wait a minute, just release the hostages and this is over.
If I was the Pope, I would be saying to Hamas, release the hostages.
I wouldn't be saying to Israel, take it easy on them.
It's the same thing with Joe Biden.
He should not be saying, take it easy on him.
He should just be saying, release the hostages or you're going to have to pay.
But that's what no one's saying.
I just really wish another thing that I could just say, I just wish they would start referring to themselves as the Hebrew people.
People have forgotten.
God is with them because they are the Hebrew people.
For using that term, kill the Jews or we're going against the Jewish people.
They are the Hebrew people.
Well, all I know is that they're the only democracy in the region.
They're our biggest ally and have been and remain in my heart and mind our biggest ally.
They're fighting for the very survival, the worst terrorist attack in their history.
And the president of our country has now abandoned them and said, basically, oh, no, you can only play defense.
You can't fight back.
That's what he has said.
And the repercussions of this position is incalculable.
The damage done is incalculable in terms of how the world will view us going forward and how our enemies will view us going forward, our friends and our allies.
Anyway, appreciate your call, my friend.
Colorado Barry, next.
Rocky Mountain.
Hi, sir.
How are you?
Glad you called.
Hey, thanks, Sean.
This is the first time I've ever called.
Hey, I wanted to talk about these polls for the election.
We hear every day about all these polling results and the demographics and everything else.
But there's a demographic out there that I think a lot of people aren't even thinking about much less talking about.
And this is coming from the lens of a veteran.
And we see life and we see our country sometimes through a little bit different lens.
We have a lot of very critical positions in the United States, you know, filled by people like nurses, police officers, detectives, firefighters, paramedics, doctors, oil rig diggers and biologists.
We have all these sectors that are critical to the prosperity of the United States, the community and national security and everything.
No one's talking about all these people and their friends and combined family members, like the auto workers.
They're not going to believe Joe's lies anymore.
So they know their careers in the future, if he gets reelected, they may be out of a job with DEI, AI, the Green Initiative, and all of that.
Tell me any of those people that are going to actually vote for Biden.
Okay, so now you've got national security.
I can't imagine one Border Patrol agent and his or her friends or family.
They're going to vote for Biden after what they've seen.
You've got to remember, this is the first time in a long time we've had two report cards side by side.
So whether you're a Democrat or Republican, you just have to go by the scores.
What their life was like before and what it's like now and the country and the border and everything else.
You got veterans that have been sold down the river.
You have homeless veterans and you have regular veterans.
And they've been just disrespected by our government and the Biden administration.
And now you've got the military and active duty service men and women in all of the branches.
These young people in the country now are looking at all this going, hell no, I'm not going to enlist in the military.
You have the people in the military that want to get out because they don't even know what they're fighting for anymore and they don't know what they're fighting against.
And they have a commander-in-chief who is horrible and embarrassing in the eyes of the entire world.
And then you have the non-commissioned officers.
They run the military like a well-willed machine, and they're not re-enlisting.
They're saying the hell with the military.
I'm going to get out and get on with my life.
So Trump's going to win, and he's going to win by a bigger margin than these polls are showing, because no one's talking about this silent majority.
I'm not saying it's going to be a landslide, but I am saying it's going to be enough so that Goebbels' granddaughter, Hillary Clinton, won't even be able to deny the election results.
Well, I got to tell you something.
Look, all I can say is, yeah, the polls are encouraging.
I'm giving them out, and I'm studying them every single day.
There's going to be, and we have an interactive map on Hannity.com that will tell you when and how to register in your state.
It'll tell you when early voting begins in your state, how you vote by mail in your state, and all leading up to Election Day.
I'm going to say it again, and I won't stop saying it.
And all of you can write online, Hannity's repetitive.
Yes, I want everybody to literally burn this into their brains.
Republicans, conservatives better embrace voting early, voting by mail.
They better embrace legal ballot harvesting, matching and surpassing the efforts of Democrats.
The Republicans need trained poll watchers in every precinct, watching the voting all day and the vote counting all night.
Those are partisan observers.
They need to push their state legislators to have updated voter rolls, chain of custody controls over mail-in ballots, a voter ID, signature verification.
That's my message.
And you can say, Hannity, I don't trust it.
Well, it's not the system I want.
It's not the system I choose, but the only way you get to change the system is if you win elections.
Anyway, appreciate the call, Barry.
Thank you.
800-941-Sean, if you want to be a part of the program.
Chuck in Georgia.
Chuck, hi.
How are you?
Glad you called.
Hi, Sean.
Thanks for taking my call.
Hey, just listening to your last conversation, you know, that's exactly what I was calling about.
The Georgia election in 2020 was a mess.
I'm very skeptical of the results.
And Brian Kemp, Governor Kemp, he signed three laws into them or not.
No, I know that they've embraced like a number of states are now embracing voter integrity laws.
And I support the governor completely.
You know, I've had mixed feelings about Governor Kemp, but he's done a lot of good things for the state of Georgia.
And I just don't know him personally, which is rare.
I tend to know governors.
I don't know him.
I can't recall if I've even had a conversation with him.
Maybe he's been on one of my shows.
I can't remember every guest, but I'm glad he's done it.
And I hope that he will lend his support.
I hope he understands the danger, even though he may not like Donald Trump.
I hope he understands the absolute failure that Joe Biden has been for the country and that Trump policies worked.
He doesn't have to like Trump, but I think this is an inflection point for the country, and I hope he'll support him because his word, I think, goes a long way in Georgia.
His endorsement would go a long way.
And I appreciate it.
Laws are going to go a long way into fixing some of the problems we had in Georgia.
I hope so.
Listen, I hope so, man.
I really do.
I'm not going to lie and say I'm not worried about it because I am.
800-941-Sean Dominic, Pennsylvania.
Dominic, glad you called.
How are you, sir?
Very fine.
I love talking to you, Sean.
Let me tell you, abortion is the one issue that affects this election.
It affects it not at a presidential level.
It affects it at all levels.
That includes the House of Representatives and the Senate.
The Democrat Party does not care about facts or common sense.
All they're going to say is abortion, abortion, abortion.
And I know your position on abortion, so I'm going to tell you what the real position is.
Everybody is against abortion abuse.
Have you ever heard that term before?
I actually have not.
No.
But look, I'll tell you a few things.
Number one, I went through this on TV the other night.
I'll talk more about it.
You're right.
Democrats are going to demagogue abortion.
They're going to lie.
I think it'll be less effective than it was in 2022, but Republicans need to get ahead of it.
And I think Republicans need to understand that where the country is.
And I say this as somebody that embraces life as a miracle from God.
However, I understand, too, that the rest of the country doesn't agree with me.
And I think where the country is politically is at first trimester or Dobbs 15 weeks.
But Republicans better not allow Democrats to position them as being against abortion if they are not.
It's a big issue.
I agree.
Pay attention to it.
800-941, Sean is on number.
All right, that's going to wrap things up for today.
A great Hannity 9 Eastern on the Fox News channel.
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