An anti-Semitic, Black Lives Matter associated alleged shooter gets written off as mentally ill, the Trudeau administration announces further financial crackdowns on political opponents, and Democrats keep flailing on COVID. Ben Shapiro is back with all the news you need to know about the latest events in the world of politics, entertainment, and social media. Subscribe to The Ben Shapiro Show to get immediate access to all the latest breaking news and commentary, including the latest on the latest in politics, pop culture, and pop culture. You won t want to miss this! Subscribe today using our podcast s promo code BenShapiro to receive 25% off your first three months of coverage. Protect your online privacy today at ExpressVPN.org/ProtectYourOnline Privacy. The Daily Wire is much bigger than you think. When you become a Daily Wire member, you get access to our newest original series, China, The Enemy Within, which is debuting today. This is a gripping five-part series engaging with Fauci, Biden, the NBA, Hollywood, and Hollywood, shows how even our schools have become beholden to China. We have a lot more coming, and all of these things in a world of entertainment that reflects your values and doesn t slap you in the face of your values in a way that reflects them. Head to Dailywire.com/Become a Dailywire Member today! Become a DailyWire Member to get all kinds of access to the latest and the best shows, including The Dark Side of Hollywood, The New York Times, The Huffington Post, and The New Yorker, The Hollywood Reporter, and much more. And when you join us today, you'll get access and access to some of the most impactful shows in the most influential shows on the world, the best in the culture you can t get anywhere else. It doesn t get better than that you ve ever heard about. That s Dailywire? And we'll be helping you build a world that s more than just watching what you could watch on the internet, anywhere you go online, anywhere else in the past 24/7. Get all the best of what you care about, and get the most authentic, the most powerful and most influential in the best places in the word you get a chance to watch the most of the world getting the most like it anywhere you can access the most amazing places on the best and most authentic experience possible.
00:01:12.000I switched over to Pure Talk, and let me tell you, my service is fantastic, and I enjoy not having to pay as much money every month.
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00:01:29.000Let me get to all the news in just one moment.
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00:02:51.000Hollywood has access to billions of dollars in capital.
00:03:09.000Let's say that there had been a white right-wing extremist who had walked up to a Jewish mayoral candidate and attempted to shoot him with a handgun.
00:03:19.000And let's say that this person had then been quickly arrested.
00:03:22.000Do you think that person would be out on bail right now?
00:03:23.000And if that person had been bailed out by a mainstream conservative organization, Wouldn't that be sort of controversial?
00:03:31.000Don't you think that might lead every nightly newscast for a week in the United States?
00:03:35.000Well, precisely the opposite happened when it comes to this BLM shooter, alleged shooter in Louisville, Kentucky.
00:03:45.000It's an amazing story because it demonstrates full scale how the media are perfectly willing to downplay, ignore, pretend it didn't happen when it comes to people of the left who engage in violence against Jews particularly.
00:03:55.000That's been going on for quite a while.
00:03:57.000As an Orthodox Jew, I follow anti-Semitic stories pretty closely.
00:04:00.000And I've noticed that it is only certain types of anti-Semitism that the media like to pay attention to.
00:04:05.000When there are a bunch of moron Hitlerites up in Orlando carrying signs, then this becomes a national news story.
00:04:13.000And if Ron DeSantis condemns them, but not in the terms that the left would like, then Ron DeSantis becomes an anti-Semite.
00:04:19.000If there is a right-wing extremist shooter who shoots up the Tree of Life Synagogue in Pittsburgh, that of course is a national news story.
00:04:26.000If, however, a radical Muslim attempts to murder a bunch of Jews at a synagogue in Texas, that's a national news story for like a second.
00:04:34.000Or if a black Hebrew Israelite attempts to murder a bunch of Jews in New Jersey, that's not a story pretty much at all.
00:04:40.000Or if there's an ongoing spate of violent attacks by young black men against Jewish people in Williamsburg, in New York, that's not a story.
00:05:16.000They will stroke their anti-Semites, the ones in Congress particularly.
00:05:19.000And groups that engage in overt anti-Semitism, they will donate billions of dollars to.
00:05:24.000Black Lives Matter is an organization engaged in wild anti-Semitic tropes about Israel, for example, didn't stop corporations from giving it $21 billion to BLM directly or to associated causes.
00:05:34.000When it comes to BLM organization directly, it raised some $90 million in 2020.
00:05:38.000Well, the latest iteration of this particularly bizarre phenomenon and troubling phenomenon is the reaction to the attempted shooting of a Jewish mayoral candidate, Democrat, by the way, in Louisville by a 21-year-old activist.
00:05:52.000According to the New York Post, the 21-year-old activist charged with trying to murder a Kentucky mayoral candidate has been released from jail after his $100,000 bond was posted by a bail fund supported by the local Black Lives Matter chapter.
00:06:03.000So just to get this straight, you had a BLM activist who attempted to murder a Jewish mayoral candidate, Democrat, in Louisville.
00:06:12.000And then his bond was immediately posted by the local BLM chapter.
00:06:15.000And this has received maybe a little bit of national news coverage, but certainly not blanket national news coverage.
00:06:20.000Now imagine, for example, that the Heritage Foundation had bailed out the Tree of Life shooter.
00:06:26.000Wouldn't that be the biggest story in America?
00:06:36.000In fact, the expectation is that they're just doing something to protect diverse audiences.
00:06:40.000Quinn says Brown's cash bond was paid Wednesday afternoon by the Louisville Community Bail Fund, which is an arm of Black Lives Matter Louisville.
00:06:47.000Brown is accused of firing multiple shots inside the Louisville office of mayoral hopeful Craig Greenberg on Monday.
00:06:52.000He walked free from the Metro Department of Corrections just hours later.
00:06:55.000BLM Louisville organizer Chanel Helm, who co-founded the bail fund, told the outlet Brown would be safer out of prison and claimed he was suffering PTSD.
00:07:03.000After two years of social unrest in the COVID-19 pandemic.
00:07:05.000Ah, so he's like a member of the US military who served in Afghanistan and had to witness carnage and chaos because he had PTSD from protesting and from COVID-19, which again, we all lived under the same regime for COVID-19 for like a couple of years.
00:07:20.000Helm said, in this case, we're dealing with someone that has mental health issues.
00:07:23.000They're calling for this individual, this young man who needs support and help to be punished to the full extent.
00:07:28.000It's a resounding message that people are down for the torture that has taken place in our jails and prisons.
00:07:33.000The Louisville Bail Fund says on its social media page it exists to not only bail out folks, but provide post-release support to get them jail-fed and to a situation of safety.
00:07:42.000Well, this prompted Mitch McConnell, the Senate Majority Leader, to point out the hypocrisy of both the media and of BLM yesterday.
00:07:52.000This far-left Black Lives Matter activist and defund-the-police cheerleader walked into a Jewish Democrat's campaign headquarters and opened fire.
00:08:04.000Obviously, every aspect of this is still under investigation, including the suspect's mental condition.
00:08:37.000When it's somebody on the right, they're emblematic of the entire right-wing movement all over the world.
00:08:41.000If you are remotely associated with, even if you're not associated with the right, they'll attempt to link you.
00:08:46.000If you are the Gabby Giffords shooter in Arizona, and you're an actual crazy person, the left will attempt to link you to Sarah Palin.
00:08:52.000But if you're this guy, who's an actual BLM activist, who's written for the Louisville Courier-Journal, Who was given awards by organizations that have been endorsed by people like Barack Obama.
00:09:03.000If you're that guy, then it's just you went a little crazy, man.
00:09:06.000Metro Council President David James also slammed the bail fund's controversial decision to post Brown's bond, according to the New York Post, saying they're going to be responsible for what he may or may not do to anybody.
00:09:15.000Brown, a University of Louisville student who is running as an independent for Louisville's Metro Council, has been fitted with an ankle monitor and is being placed on home incarceration ahead of his trial.
00:09:23.000He was arrested and charged with attempted murder after opening fire with a 9mm Glock handgun inside Greenberg's campaign office on Monday.
00:09:30.000He's also charged with four counts of wanton endangerment for allegedly firing shots near Greenberg's staffers.
00:09:35.000A judge on Tuesday ordered Brown to have no contact with Greenberg or his staff and said he cannot possess firearms either.
00:09:41.000Alrighty, in just one second, what would you say if I told you that this Black Lives Matter alleged shooter was pretty obviously anti-semitic and didn't like Jews and maybe that had something to do with the shooting?
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00:10:47.000Well, I mean, I have some ideas about the motive for the shooting.
00:10:50.000gcu.edu slash my offer to get started.
00:10:53.000Police said Brown appears to have acted alone.
00:10:56.000They're still investigating a motive for the shooting.
00:10:58.000Well, I mean, I have some ideas about the motive for the shooting.
00:11:01.000My ideas about the motive for the shooting come directly from the suspect's social media page.
00:11:05.000The Daily Beast, no right wing source this, says that the violent incident likened to an assassination attempt came after Brown veered toward increasingly radical politics in recent years, meeting just last week with a representative for a black nationalist paramilitary group.
00:11:19.000Brown 21 is facing several charges, including attempted murder, A former intern and editorial columnist of the Louisville Courier-Journal, Brown wrote in the paper that he had studied philosophy and Pan-Africanism while at the University of Louisville, so they obviously did a wonderful job over there.
00:11:33.000There, he'd previously served as the opinion editor of the school's newspaper, The Cardinal, and is an MLK scholar.
00:11:39.000After Breonna Taylor was killed by Louisville police officers during a notorious March 2020 raid, Brown found himself at the forefront of the city's protests.
00:11:46.000He wrote several columns in the Courier-Journal about social justice.
00:11:49.000He also founded From Fields to Area, a group advocating for political education and violence prevention training for city youth.
00:11:56.000He was featured on MSNBC in 2018, where he spoke about wanting common sense gun reform.
00:12:01.000He was also featured by the Obama Foundation as a rising face.
00:12:04.000He participated in the former president's My Brother's Keeper program, becoming one of just 22 students nationwide, inviting to the inaugural gathering of the My Brother's Keeper Alliance.
00:12:14.000He said, I've seen the consequences of poverty and centuries of systemic racism and oppression.
00:12:18.000I believe in the potential of everyone.
00:12:20.000I cannot stand by silently while I see the lives and potential of my brothers and sisters be cut short due to systemic injustice.
00:12:44.000The problem is that this particular guy, his social media is loaded with antisemitism.
00:12:51.000According to the Daily Beast, Brown's more recent social media posts, particularly the accounts associated with his campaign for a seat in the Louisville Metro Council, showed an increasing interest in black nationalist and pan-Africanist leaders.
00:13:00.000He frequently posted photos and quotes of the Black Panthers, Stokely Carmichael, George Jackson, and late Ghanaian President Kwame Nkrumah.
00:13:09.000We have one scientific and correct solution, Pan-Africanism, the total liberation and unification of Africa under scientific socialism, his Twitter bio reads.
00:13:17.000He even appeared to urge followers last week to join the Lion of Judah Armed Forces, a gun-toting group whose leadership has voiced ideas similar to those of the Black Hebrew Israelite movement.
00:13:27.000The latter anti-Semitic ideology holds that Black Americans, not Jews, are the true descendants of the biblical Hebrews.
00:13:33.000Adherents of that movement were charged with murdering four Jewish people at a kosher supermarket in Jersey City in 2019.
00:13:40.000A local spokesperson for the Lion of Judah Armed Forces told the Daily Beast he first met with Brown last Thursday, though the accused never became a member of the group.
00:13:46.000He affirmed that the organization is a Black Hebrew Israelite beliefs, but maintained they didn't endorse the attack or have any foreknowledge of Brown's plans.
00:13:54.000In January, shortly after he filed to run for the Metro Council, Brown posted a revolutionary love letter to his Medium account.
00:13:59.000He said, By expecting someone else to take full responsibility for our liberation, these reactionary so-called black leaders are committing an act of political suicide.
00:14:06.000The revolutionary consciousness of the masses must understand that the struggle against the negative forces of genocide and fascism will not end at the ballot box of the ruling class.
00:14:14.000Attempting to get within one of the two major parties has caused our leaders to become co-opted with their interests shunted to the background.
00:14:22.000In addition to his social justice work, Brown garnered media attention when he was the subject of a missing persons investigation last year.
00:14:27.000Apparently, he went missing for a couple of weeks in 2021.
00:14:52.000This comment says, Many will now see Quintez as little more than a pariah tainted by venom and his study of nationalism and Pan-Africanism.
00:14:58.000He's already being characterized that way.
00:15:00.000Everyone from local media to the NRA are piling on.
00:15:02.000They will freeze him in time as nothing more than a vicious criminal and potential killer undeserving of any love or consideration.
00:15:08.000They will not talk about the fact that Quintez was among the minority of young black boys who make it to college.
00:15:12.000They will not talk about the fact he wasn't just a student.
00:15:40.000This guy, Ricky Jones, professor and chair of the Pan-African Studies Department at the University of Louisville.
00:15:43.000Obviously, he doesn't want his ideology linked to anything that this shooter did.
00:15:48.000The quickness with which this has been labeled a mental health case as opposed to an outgrowth of a particular political ideology is astonishing.
00:15:56.000And it's a reminder that when it comes to these narratives, if you are on the left and you do something very, very, very bad, it will quickly be chalked up to anything but your politics.
00:16:05.000If, however, you're on the right and you say the word freedom while you're camped out in Ottawa, this makes you a terrorist.
00:16:12.000Hey, there's been no attempt to track down anybody who donated to the Louisville Bail Fund that gave $100,000 to bail this guy out of jail.
00:16:21.000Yet the entire media is apparently now tracking down people who gave 40 bucks to the Freedom Convoy in Canada.
00:16:27.000Because one is a national news story and one is not.
00:16:30.000As we've discussed before, what makes a story local versus national is specifically and precisely only the political orientation of the people involved.
00:16:39.000Alrighty, in just one second, we'll get to a simple fact.
00:16:41.000If you are a BLM protester doing pretty much anything, the media will make excuses for you.
00:16:44.000If, however, you set up a jacuzzi in Ottawa in order to protest VAX mandates, then you are very bad and the government can do pretty much whatever they want to you.
00:16:51.000We'll get to more on this in just one second.
00:16:53.000First, you may have noticed the price of the pump these days insane, like four bucks a gallon where I live.
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00:18:53.000He hacked a website and revealed confidential donors.
00:18:57.000And the Canadian government jumped on that and proceeded to go after all of these donors.
00:19:00.000The media jumped on it and proceeded to go after all the donors.
00:19:04.000So if you donate it to the Freedom Convoy, this makes you akin to a terrorist.
00:19:08.000If you're an actual possible terrorist, then you're probably mentally ill if you're on the left because you're associated with Black Lives Matter, which makes you one of the good people.
00:19:16.000Deputy Prime Minister Chrystia Freeland in Canada, she came out and she said, yeah, you know, we're going even further in shutting down accounts and going after the financial holdings of people.
00:19:23.000She said, you know, the names of individuals and crypto wallets have now been shared with financial institutions by the government so institutions can shut down people's ability to move their money.
00:19:34.000The names of both individuals and entities, as well as crypto wallets, have been shared by the RCMP with financial institutions, and accounts have been frozen.
00:19:54.000I mean, this is actual tyranny, what's happening in Canada.
00:19:56.000Going to financial institutions as the government, relieving them of civil liability for freezing accounts and saying you don't even need a court order to shut down people's bank accounts, to seize their crypto wallets.
00:20:18.000Canada's Justice Minister, David Lamont, He said, you know, perhaps Trump supporters in Canada should be worried about us freezing their funds.
00:20:26.000You've just compared people who may have donated to this to the same people who are funding maybe a terrorist.
00:20:43.000Well, I think if you are a member of a pro-Trump movement who's donating hundreds of thousands of dollars and millions of dollars to this kind of thing, then you ought to be worried.
00:20:54.000If you're a member of a pro-Trump movement, a pro-Trump movement.
00:20:57.000Now, that's so amazing because number one, Trump is not a Canadian politician.
00:21:02.000Trump was the American president of the United States.
00:21:04.000Trump didn't sponsor the Freedom Convoy.
00:21:06.000Trump has nothing to do with the Freedom Convoy.
00:21:08.000But if you drop the word Trump in there, Canada suddenly thinks it's totally okay to look at shutting you down and seizing your cash and freezing it.
00:21:19.000So they will say that your thoughts are criminal in Canada, and they will shut down your accounts without a court order.
00:21:25.000If you gave money to the Freedom Convoy that didn't go for criminal activity, it just went for like their gas, or to buy them, for example, a bouncy house for their kids, which is one of the things that's happening in Ottawa.
00:21:36.000If you did that, you're basically akin to a terrorist.
00:21:38.000If you're an actual terrorist, possibly, this Black Lives Matter activist who attempted to murder a Jewish Democrat in Louisville, well then it's just mental illness, and we should all, you know, really take a step back.
00:21:49.000The Ottawa police chief, he came out, he said, listen, we're not even going to allow people to come down into Ottawa for the unlawful activity of engaging in demonstrations.
00:21:58.000Since when is it an unlawful activity to engage in demonstrations?
00:22:00.000I've noticed that you didn't feel this way about the actual BLM demonstrations in June 2020 when Justin Trudeau, that pathetic dweeb of an idiot.
00:22:09.000I mean, Justin Trudeau is just, he's one of the least impressive human beings on planet Earth.
00:22:14.000He's a mashup, as I've said before, of Derek Zoolander and Nancy Pelosi with a dash of Bernie and maybe some Fidel Castro genetic material, but maybe not.
00:22:23.000Anyway, Justin Trudeau went and rallied with BLM in the middle of a pandemic.
00:22:28.000So, Captain, I'm so worried about the pandemic that I have to seize all your funds and, you know, really make sure that we all are together as Canadians in supporting tyranny.
00:22:39.000That guy, he was perfectly willing to buck all of the COVID rules for June 2020 in the middle of the pandemic.
00:22:46.000Now the pandemic is basically ending in Canada because a bunch of provinces have decided to relieve their rules.
00:22:52.000And he is now empowering people to shut down basic fundamental freedoms like the freedom to demonstrate.
00:22:59.000I mean, this is it's truly frightening stuff.
00:23:02.000And obviously I don't know when you guys are going to go in or whatever, but there's still lots of people just walking on Wellington Street and all that, that are supporting.
00:23:12.000So what, and they're probably going to continue, what are you saying to these people if they don't want to leave either?
00:23:19.000So our message has been pretty consistent around that, and more importantly, the message from our community and our residents has been pretty consistent around that.
00:23:29.000We are tired of what's occurring there.
00:23:31.000We're sick of what's happening in our streets, so leave our area.
00:23:34.000We will continue with that message this weekend, but you're seeing an increased enforcement presence, and we won't be allowing people to come down for the unlawful activity of engaging in demonstrations.
00:23:44.000Unlawful activity of engaging in demonstrations?
00:23:46.000I wasn't aware that engaging in demonstrations is unlawful activity.
00:24:02.000What was the left all hot and bothered about yesterday?
00:24:04.000What the left was hot and bothered about is the fact that Elon Musk tweeted out an internet meme about Hitler.
00:24:10.000This is what the left was super worried about.
00:24:12.000So just to get this straight, if a Black Lives Matter activist attempts to murder a Jew in Louisville, this is not anti-Semitism.
00:24:18.000Even if his page is loaded with anti-Semitism, not anti-Semitism.
00:24:21.000However, if Elon Musk makes a Hitler joke about a leader who has now invoked an Emergencies Act to freeze bank accounts and utilize dictatorial power, Elon Musk must be secretly a vicious anti-Semite.
00:24:36.000He tweeted out a meme of Hitler, it said, Stop comparing me to Justin Trudeau, I had a budget.
00:24:41.000Okay, that's a very old internet joke, right?
00:24:44.000What's the difference between ex-politician and Hitler?
00:24:53.000As a person who has been attacked with probably more antisemitism than nearly anyone in American public life, I can safely say that is not an antisemitic meme.
00:26:54.000Okay, meanwhile, The Democratic Congressional Campaign Committee has some internal polling, and it is just brutal for them, particularly on COVID.
00:27:03.000So according to SanFranciscoGate.com, Eric Ting writing, the Democratic Congressional Campaign Committee is concerned that Republican attacks on the Democrats' handling of COVID-19 have, quote, alarming credibility.
00:27:14.000According to a slide deck obtained by SFGate, the DCCC conducted a poll around the competitive House districts for the upcoming 2022 midterms.
00:27:22.000This is the 60 most competitive House districts.
00:27:26.000Findings from the poll were presented to DCCC officials on Thursday morning.
00:27:30.000One slide in the presentation, shared with SFGATE by someone who attended the presentation, says many of the Republican attacks tested have alarming credibility, including Republican attacks on COVID-19 policy.
00:27:40.000The poll found 57% of voters in competitive congressional districts agree with the statement, Democrats in Congress have taken things too far in their pandemic response.
00:27:50.00066% of self-defined swing voters in competitive districts agree with that statement.
00:27:54.000White and Hispanic voters in competitive districts were equally as likely to agree, 59%.
00:27:58.000Black voters, 42%, and Asian voters disagreed with the statement.
00:28:01.000But those numbers are not good for Democrats.
00:28:03.000If you have 4 in 10 Black voters agreeing with the Republicans, And 4.6 in 10 voters who are Asian agreeing with the Republicans, Democrats just get walloped.
00:28:12.000The poll did not define what taking things too far means.
00:28:14.000The DCCC found that critiques of COVID-19 restrictions were slightly less potent than other issues.
00:28:19.000In swing districts, 64% of voters agreed with the statement, Democrats in Congress support defunding the police and taking more cops off the street.
00:28:26.000The internal poll found that 80% of self-defined swing voters in competitive districts agreed with the same statement.
00:28:33.00062% of voters in contested districts agreed with the statement, Democrats in Congress have created a borough crisis that allows illegal immigrants to enter the country without repercussion and grants them taxpayer-funded benefits once a year.
00:28:46.00078% of swing voters in those districts agreed.
00:28:49.00061% of swing district voters agreed with the statement, Democrats in Congress are spending money out of control.
00:28:53.000And Democrats are teaching kids as young as five critical race theory, which teaches that America is a racist country and that white people are racist.
00:28:59.000And 59% agreed with the statement, Democrats are too focused on pursuing an agenda that divides us and judging those who don't see things their way.
00:29:31.000However, do Democrats support federal crackdowns on police departments across the country and broad-scale attempts to shift money from police departments to other social services?
00:30:18.000Um, yeah, it is not good stuff, by the way.
00:30:21.000And the Democrats can't get their messaging straight on COVID.
00:30:24.000And COVID ties into all of this, because again, COVID really removed a lot of sort of the barriers to cause and effect that exist in politics.
00:30:31.000Usually when a policy passes, there are a bunch of intervening factors.
00:30:33.000COVID removed all those intervening factors.
00:30:35.000So we saw immediate response to bad Democratic policy.
00:30:38.000And yet Democrats continue to say, we're going to follow Fauci, we're going to follow... They made these people into religious figures because they hate Donald Trump that much.
00:30:45.000They said that politicians can't make these decisions for us.
00:30:48.000Politicians have to delegate this to the experts.
00:30:51.000And they said that because they hated Trump.
00:30:52.000They didn't like that particular politician.
00:30:54.000Well, the problem is they created a box they can no longer get out of.
00:30:57.000So you still have Anthony Fauci saying that it is risky to have kids stop wearing face masks.
00:31:53.000He'll cite the CDC, but the CDC can't cite any data that actually backs this.
00:31:57.000Meanwhile, Rochelle Alensky is openly lying about this sort of stuff.
00:31:59.000She tweeted out yesterday, quote, In recent months, we have seen hospitalization rates among children higher than any point in the pandemic.
00:32:05.000Parents, I strongly encourage you to get your eligible children vaccinated against COVID-19.
00:32:08.000To best protect children not eligible, surround them with vaccinated people.
00:32:40.000Everybody believed them on their own side.
00:32:42.000And now they're wedded to those people.
00:32:43.000So you still have Joy Behar, who again is the id of the Democratic Party out there saying she might wear a mask indefinitely.
00:32:48.000Well, if it would shut her up, perhaps that might be a good thing for the rest of humanity, but she has every right to speak what is left of her addled mind.
00:32:56.000If I go on the subway, if I go in a bus, if I go into the theater, if I go into, um, where else would I go?
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00:37:00.000If you go to some of these Web3 companies, you know, crypto and blockchain and all these companies, they're really young.
00:37:05.000I mean, these are like college dropouts.
00:37:07.000This is Internet all over again, right?
00:37:08.000If you remember what the internet was in the early 2000s and the energy that was around that and how young it felt, this is that all over again.
00:37:21.000And not only is he brilliant, he can really explain what is going on with crypto.
00:37:25.000So if you've always been mystified by why people are talking about crypto and what it is, and is it some like weird gamer thing?
00:39:11.000So, for example, you have, just yesterday, the Biden economic advisor, Cecilia Rouse, saying that inflation is driven only by the pandemic.
00:39:20.000It's really the pandemic that's doing all of this.
00:39:23.000I think that the number one way that the president needs to be focused on, and we all need to be focused on, is getting this pandemic under control.
00:39:37.000So Stephen Ratner was a counselor to the Treasury Secretary under Barack Obama.
00:39:41.000He has a piece in the New York Times talking about this.
00:39:44.000He says, In an interview with Lester Holt of NBC last week, President Biden hewed closely to his talking points on inflation, which over the past 12 months has risen at the fastest pace in 40 years.
00:39:53.000The reason for the inflation is the supply chains were cut off, he insisted, as he has done several times before.
00:39:58.000That's both simplistic and misleading.
00:40:00.000For starters, the supply chains have not been cut off, just stretched, and supply issues are by no means the root cause of our inflation.
00:40:05.000Blaming inflation on supply lines is like complaining about your sweater keeping you too warm after you've added several logs to the fireplace.
00:40:12.000The bulk of our supply problems are the product of an overstimulated economy, not the cause of it.
00:40:17.000Sure, there have been some COVID-related challenges, like health-related worker shortages, but most of our supply problems have been homegrown.
00:40:23.000Americans have resumed spending freely, and along the way, they've been creating shortages akin to those in a shopping mall on Black Friday.
00:40:28.000All that consumption resulted from vast amounts of government rescue aid, including three rounds of stimulus checks, and substantial underspending by consumers during the lockdown phase of the COVID crisis.
00:40:39.000There's also been an unforeseen shift in what consumers are buying.
00:40:42.000With travel still sluggish and many people still wary of returning to entertainment venues, a hunk of purchasing has moved to goods, particularly cars, electronics, and building materials, for which production and distribution capacity is limited.
00:40:52.000It's a classic economic case of too much money chasing too few goods, resulting in both higher prices and giving the extreme surge in demand shortages.
00:40:59.000A spending increase of the magnitude we're seeing, 25% on durable goods in 2021 over 2020, according to the Bureau of Economic Analysis, would have challenged the capabilities of manufacturers under the best circumstances.
00:41:10.000Much has been made, for example, about the very real shortage of semiconductors.
00:41:13.000But that gap has occurred despite manufacturers delivering a staggering 1.15 trillion chips in 2021, handily eclipsing the previous annual record.
00:41:22.000That looks to me like a demand problem creating a supply problem.
00:41:25.000And yes, when chips are in short supply, auto companies must curtail production and prices rise.
00:41:30.000I just ordered a new car and had to pay well above sticker price and face an indefinite wait.
00:41:33.000Among the ripple effect, a surge in used car prices, which are up 55% over January 2020 levels.
00:41:59.000The Great Resignation has also created shortages of a different kind.
00:42:02.000Labor shortages in the service sector, both for businesses which demand remained mixed, like restaurants, and those for which demand has increased, like a plumber or electrician.
00:42:11.000This means that inflation in service prices remains higher than the Federal Reserve's target of 2%.
00:42:16.000Says Ratner, you can't blame clogged ports for that.
00:42:20.000So the real solution, he says, is more complicated.
00:42:23.000He says some shortages will ebb naturally on their own.
00:42:25.000Other shortages will take longer to moderate and will require robust action, particularly by the Federal Reserve.
00:42:30.000The White House needs to be more honest as it rolls out initiatives.
00:43:14.000In fact, the CEOs of some of the biggest companies have been bragging to their investors that inflation has created a terrific opportunity for them to boost profits.
00:44:00.000So, you know, I guess that they were just much more altruistic in like 2019.
00:44:04.000It can't be that supply chain strains and inflation itself have created inordinate demand for goods.
00:44:10.000And then when people were told to stay home and never go to a restaurant again, that they bought more goods off the shelf.
00:44:15.000And it can't be that now that the government has blown trillions of dollars into the pockets of Americans, we're talking on the order of $9 trillion in assets owned by the Federal Reserve.
00:44:22.000Pretty much $7 trillion, blown directly into the pockets of the American consumer.
00:44:27.000Maybe that had an impact on the prices?
00:45:10.000And it's about to get a lot worse for the American consumer, because not only are prices really high, not only have prices been eating up wage increases, but now mortgage rates have spiked.
00:45:19.000According to the Wall Street Journal, mortgage rates hit their highest level in almost three years, further straining affordability in a market where prices have risen steeply.
00:45:26.000The average rate for a 30-year fixed is now almost 4% for the week ending on Thursday, according to the mortgage finance giant Freddie Mac.
00:45:35.000It's the highest level since May 2019.
00:45:37.000Expectations the Federal Reserve is going to raise interest rates several times this year to control inflation are driving up those mortgage rates, which are closely tied to the 10-year U.S.
00:45:46.000The yield on the benchmark note traded near a recent high of 2% on Thursday.
00:45:50.000At their meeting last month, officials at the central bank accelerated the pace of planned rate increases if inflation does not subside.
00:45:55.000Mortgage rates have now risen for three straight weeks.
00:45:58.000A year ago, the rate on America's most popular home loan was 2.73%, just above its record low of 2.65%.
00:46:05.000They say that rates still remain near historic lows, but those are bigger rates than people have seen in several years at this point, which presumably will drive some sort of downturn in the real estate market or at least a flattening out of the real estate market in the very near future.
00:46:19.000And that real estate market, that hot real estate market is how a lot of people are making money these days.
00:46:24.000So, you know, the, the, the boosting of inflation rates has had a massive impact on everything from what you pay at the grocery to whether you get to buy a new home.
00:46:36.000All of this is working out just beautifully for Joe Biden and company.
00:46:40.000And we're supposed to believe that he's in control?
00:46:42.000We're supposed to believe that he's going to give a State of the Union next month at which he triumphantly announces that he has done a wonderful job throughout?
00:46:49.000Truly, truly, you know, I hope that he does his best to pretend that he gets all the credit for all of this.
00:46:59.000Meanwhile, the situation in Ukraine continues to deteriorate.
00:47:03.000Multiple reports today of various acts of Russian aggression.
00:47:06.000Apparently, according to NATO, Russia now has not 100,000, not 130,000, but up to 180,000 or 190,000 troops on the border of Ukraine, which would make this the single largest troop movement in Europe since World War II.
00:47:18.000Also, according to the Wall Street Journal, violence escalated in eastern Ukraine on Thursday, with Russian-backed separatists and authorities in Kiev trading accusations over ceasefire violations along the front line, as President Biden said Moscow was fabricating a pretext to invade its neighbor and warned that the threat of a Russian incursion remained very high.
00:47:33.000Adding to the tension, the Kremlin threatened in a letter to the U.S.
00:47:36.000to resort to unspecified military technical measures if it did not receive from the United States and its allies legally binding guarantees of its security, which include a pledge from NATO that it would never allow Ukraine to join, as well as curbs on troop deployments in Eastern Europe.
00:47:52.000At no point has NATO said, you know what we'd like to do?
00:47:54.000We'd like to come in there and we're just going to take, you know, some area in the Urals.
00:47:57.000We're just going to take, you know, we're going to go into the Caucasus and we're just going to take some territory.
00:48:00.000Like at no point has NATO ever said anything remotely like this.
00:48:03.000So Putin pretending that NATO, which was designed as a defensive alliance to ward off the predations of the USSR, at no point has NATO been overtly aggressive.
00:48:12.000But Vladimir Putin is pretending they're aggressive so that he can justify his own aggression.
00:48:16.000In the United Nations, Russia leveled allegations formally that Russian leaders have repeated in recent weeks that Ukraine is pursuing a genocide against Russian speakers.
00:48:24.000That, by the way, is going to justify not just an invasion of eastern Ukraine, which is majority Russian speaking, but presumably the rest of Ukraine, because there are a lot of Russian speakers in Ukraine.
00:48:34.000This is how the logic morphs, by the way.
00:48:36.000I mean, Hitler did use the same logic.
00:48:38.000Hitler's original logic was, you know, we have a lot of ethnic Germans in some of these areas, like the Sudetenland, the majority of ethnic Germans.
00:48:55.000Maybe we need to go into this small region of Poland.
00:48:58.000After all, there are a lot of Polish speakers there, a lot of German speakers there, and you know, they're being treated very badly.
00:49:04.000Putin knows the logic, and that's the logic he is using.
00:49:07.000The White House spokesperson yesterday, she suggested that Karen Jean-Pierre said that Russia is moving toward an imminent invasion, which of course is world markets pretty radically.
00:49:18.000The evidence on the ground is that Russia is moving toward an imminent invasion.
00:49:22.000This week, the Russian government said that it would withdraw troops from the Ukraine border, and they received a lot of attention for that claim.
00:49:32.000But here and around the world, And, uh, but we know that is absolutely false, uh, which you've heard us say from, from coming from our administration.
00:49:41.000In fact, we have now confirmed that in the last several days, Russia has increased its troops presence along the Ukraine border by as many as 7,000 troops with some arriving in the past 24 hours.
00:49:55.000By the way, you don't have to trust the Biden administration on this one.
00:49:57.000There are multiple other foreign governments that are confirming these sorts of reports.
00:50:00.000Biden, for his for his take, he said he thinks the invasion is going to happen in the next several days, which, of course, would not be a large scale surprise, considering that it's been kind of going conventional wisdom for a while that Russia was going to wait until after the Olympics were over.
00:50:12.000They closed on Sunday in order to invade Ukraine.
00:50:15.000They have reason to believe that they are They're engaged in a false flag operation.
00:50:35.000Certainly a reshifting of pretty much all policymaking in Europe.
00:50:40.000And we'll have to see if Europe is finally willing to stand up to the Russian threat by cutting themselves off from the oil supply from Russia, by taking measures to actually harden borders directly around Russia in the NATO countries.
00:50:51.000But this could be the beginning of yet another sort of Cold War era with Russia and China on the opposing side of the United States and its allies in Europe, if Europe finally grows a backbone.
00:51:00.000All right, we'll be back here later today with an additional hour of content.
00:51:02.000First, you can't forget to end your week by tuning into The Andrew Klavan Show.