Oct. 11, 2018 - Steve Pieczenik
04:03
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| Time | Text |
|---|---|
| Hi, this is Dr. | |
| Pechenik. | |
| Today we had a major problem on the stock market. | |
| We fell 800 points. | |
| The reason for it was the increase in interest rates. | |
| This is the sixth increase since Trump has been elected in 2016. | |
| There will be another three increases in interest rates. | |
| The man in charge of the Federal Reserve, Jeremy Powell, has been very judicious about increasing the interest rates by 25 basis points. | |
| I understand why Trump says this is crazy, but it's not. | |
| In effect, the Fed is a very good one. | |
| That country needs to have a stabilized economy which cannot go into inflation. | |
| The problem has been not only the increase in interest rates, but also the fact that we have not resolved the Chinese tariff problem with the United States. | |
| Right now, we're paying a very heavy price on base elements like aluminum, steel, paint, and the price of cars are going up 10%, 20%. | |
| And that's what the market is reacting to. | |
| Mr. | |
| President, I think it's time for you to go overseas, resolve your issue, both with Kim Jong-un, which I know you will be successful, and then resolve it with President Xi, who will also open up and will be grateful to solidify this issue. | |
| Now let me get to a more serious problem, the clear and present danger on behalf of two people. | |
| One is Jared Kushner of the White House and the other one is Prince Al-Salman of Saudi Arabia. | |
| Both men are equally stupid, equally incompetent. | |
| Why do I say this? | |
| I've said it for over a year that Jared Kushner is a clear and present danger to the United States. | |
| His approach to the Middle East is one of ignorance and total incompetency. | |
| He sent over two Jews to negotiate with Israel where there has been no history of Jewish interlocutors being successful to make a peace treaty in the Middle East. | |
| Secondly, he has supported al-Saman, another spoiled princeling of the Saudi family who's not very bright and who in turn has just killed a Saudi citizen in a Turkish consulate and dismembered him using 15 Saudi operatives. | |
| Now, al-Saman is so arrogant that he said the only thing that will stop him is death. | |
| I'm a strong proponent that in the Saudi military there be a rotation between Riyadh and Jidda and that someone understands that there has to be a young colonel who will come to the forefront of the Saudi family and deal with the problem of Salman. | |
| As for Jared Kushner, whose father was in jail and was stupid and corrupt, just like his son Kushner, I would say get rid of him. | |
| He is a danger to the United States. | |
| He has no understanding of strategy, no understanding of tactics. | |
| He's corrupt. | |
| And unfortunately, Nikki Haley, who was not all that bright, thought he was a genius, which shows you what a lack of perspicacity she had. | |
| So what is the problem with Jared? | |
| He thinks he can solve the Middle East peace process by employing al-Saman and Saudi Arabia to negate anything to do with the Palestinians. | |
| Big, big mistake. | |
| And the other part that's a big mistake is he's not going to get involved in our strategy or our tactics. | |
| He has to leave the White House before he gets indicted and implicated for exactly what he is, a corrupt, ignorant, not very bright Jewish student. | |
| Now, why do I say that? | |
| Because the rabbi who was in charge of his Hebrew school said he was dulled. | |
| And his father had to pay $2.8 million to get him into Harvard. | |
| Now that's a pretty stupid guy. | |
| So from the words of Peter Lynch, who was head of Magellan Fund, he said the following, You only have to have a fifth grade education to understand the stock market. | |
| The rest is up to you. |
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