Inflation spikes, while the White House downplays the problem, and Hunter Biden s email scandal starts to infect Joe. The shipping bottleneck continues as Joe Biden ignores reality and blames private companies. Inflation spikes as the Federal Reserve is faced with a longer period of rapid inflation than they had expected, and may soon come under pressure to act to ensure the price gains don t become a permanent fixture. The New York Times reports that consumer prices jumped more than expected last month, with rent, food and furniture costs surging. Meanwhile, President Biden says his administration is doing what it could to fix supply chain problems that have helped to produce shortages, long delivery times, and rapid price increases for food, TV, and other products. We ll get to all the news in just one moment. Today s show is sponsored by ExpressVPN. Protect your data from big tech with ExpressVPN, a VPN that works on phones, laptops, desktops, and even routers. You can get an extra three months for free when you use ExpressVPN on all of your devices, including your smart phone, tablet, and router, when you visit expressvpn.com/Itrust. That s all you get 3 months of FREE 3-months of ExpressVPN when you sign up for 3 months for $3.99 a year! You ll get access to all of the features mentioned in the show, plus an additional 3 months FREE when you upgrade your membership when you join the program. Ben Shapiro's show is on the show. Subscribe to The Ben Shapiro Show on the Ben Shapiro Podcast, wherever you get your ad choices are available. Want to become a supporter? Subscribe at Ben Shapiro s Podchaser? Subscribe on Apple Podcasts and get an ad-free version of the show? Learn more about him on iTunes? Subscribe at apple.me/Ben Shapiro's Podcasts? Subscribe on Podchats? Subscribe to his podcast, I'm listening to him on PodCharts? If you re looking for the show recommendations, I'll be listening to Ben Shapiro on The Six Sides Podcast? and I'll get a discount on his podcast on The FiveThirtyEight? I'll send you a review of his latest episode of his newest book, and much more! Thanks Ben Shapiro, Ben Shapiro is a big fan of Ben Shapiro on his new book, Too Effing Good at Work, Too Good At That?
00:00:23.000We'll get to all the news in just one moment.
00:00:26.000First, let me just remind you that if you are using the internet without a VPN, that is sort of like saying your credit card number out loud in a very crowded place while on your cell phone.
00:00:34.000It is pretty much the dumbest thing that you can do.
00:00:37.000You should be using a VPN to protect your data because pretty much everything important you are doing in life you are doing on the internet these days.
00:00:42.000Believe it or not, ISPs know every single website you visit.
00:00:45.000Then those ISPs can sell that information to ad companies and tech giants who use the data to target you.
00:00:49.000But you shouldn't just use any VPN you find.
00:00:51.000You really need to be using ExpressVPN because ExpressVPN reroutes your network data through a secure encrypted tunnel so your ISP can't see or sell your online activity.
00:01:41.000According to the New York Times today, consumer prices jumped more than expected last month, with rent, food and furniture costs surging as a limited supply of housing and a shortage of goods stemming from supply chain troubles combined to fuel rapid inflation.
00:01:52.000This consumer price index climbed 5.4% in September from a year earlier.
00:01:56.000That's faster than its 5.3% increase through August.
00:02:00.000Monthly price gains also exceeded predictions with the index rising 0.4% from August to September.
00:02:07.000The figures raise the stakes for both the Federal Reserve and the White House, which are facing a longer period of rapid inflation than they had expected, and may soon come under pressure to act to ensure the price gains don't become a permanent fixture, which means you would assume that the Federal Reserve is going to have to taper faster than they said they were going to have to taper.
00:02:21.000They're going to have to stop buying bonds.
00:02:23.000They're going to have to lower the overnight interest rates.
00:02:25.000They're going to have to do all the things that you normally do in order to tamp down inflation, which typically results in slower growth, at least in the moment.
00:02:33.000Because they have now created a stagflation situation in which economic growth is not proceeding as fast as it was supposed to.
00:02:40.000And the only way to cure that, we know from the Paul Volcker days, is to cut down on the inflation and then wait for the economy to catch up.
00:02:46.000On Wednesday, President Biden said his administration was doing what it could to fix supply chain problems that have helped to produce shortages, long delivery times, and rapid price increases for food, TV, automobiles, and other products.
00:02:57.000In remarks at the White House, Biden said the Port of Los Angeles would begin operating around the clock to relieve growing backlogs, and that the administration was encouraging states to license truck drivers more quickly.
00:03:06.000Companies including Walmart, FedEx, and UPS are also moving to work more off-peak hours, according to President Biden.
00:03:11.000We'll get to his shipping policy in just one second.
00:03:15.000Remember that time that Secretary of Transportation Pete Buttigieg was the greatest Secretary of Transportation of all time?
00:03:21.000And he was very focused on equity in the roads?
00:03:24.000And transportation was all about equity.
00:03:26.000And of course, Secretary Buttigieg was appointed to that position because he thinks that transportation is deeply romantic, and he has a long record of not fixing potholes in South Bend, Indiana.
00:03:37.000Well, you might have thought that maybe he might have spent the last few months, you know, boning up on exactly how ports work.
00:04:06.000Benefits from Social Security, according to the New York Times, which tens of millions of retired Americans rely on to pay their bills, will increase by 5.9% in 2022, according to the Social Security Administration.
00:04:16.000It's the biggest boost in 40 years, as prices for food, cars, and rent keep climbing.
00:04:21.000The increase is known as a cost-of-living adjustment.
00:04:23.000It's the largest since 1982, when that adjustment was 7.4%, according to data from the administration.
00:04:29.000The average benefit would climb to almost $1,700 a month.
00:04:33.000The adjustment is a response to consumer prices in the United States that have jumped at their fastest pace in years.
00:04:38.000And all of this means that hourly wages are down.
00:04:41.000So for all of the talk about from Democrats, well, look at how much leverage workers have.
00:04:45.000They're not coming back because they have so much leverage because there's so many open jobs and isn't that great?
00:04:51.000If the idea is that workers are getting better wages and better working conditions because they are holding out, What if all of that is outweighed by the fact they are also paying higher prices?
00:05:00.000See, the economy has consumers and also producers, and they are the same people.
00:05:05.000You are both a consumer and a producer in the economy.
00:05:08.000So if you don't produce, but you do consume, it turns out that there will be bottlenecks, there will be shortages, there will be inflation.
00:05:16.000And your failure to work is going to end up hurting you.
00:05:19.000And then even when you go back to work, the prices are going to outrank exactly how much you've increased your pay.
00:05:24.000And that's exactly what's happening right now, according to the Wall Street Journal editorial board.
00:05:28.000Is inflation still transitory, as the Federal Reserve and White House like to say?
00:05:32.000Not if you've been visiting the grocery store, gas pump, online retailer, or anywhere else across the U.S.
00:05:36.000And not judging by Wednesday's report on consumer prices for September, which showed the same rapid rate of inflation that has been apparent all this year.
00:05:44.000This is the largest year-over-year increase since 2008 in inflation, and the details in the report add to the evidence inflation is likely to be persistent.
00:05:51.000Remember when used car prices popped in the spring and various progressive sages said inflation would vanish when those prices stopped rising?
00:05:57.000Well, in September, used car and truck prices fell 0.7%, but the increase in the cost of the other goods and services more than made up the difference.
00:06:04.000Used price vehicles are still up 24.4% in the last 12 months, by the way.
00:06:07.000The price of new vehicles rose 1.3% and are up 8.7% for the year.
00:06:13.000Try renting a car or truck, and assuming you can find one, you'll pay about 43% more than you did in September 2020.
00:06:20.000Beef prices are up 17.6% over the last year.
00:06:23.000Fresh fish and seafood are 10.7% higher.
00:06:26.000Major appliances are nearly 10% more expensive.
00:06:31.000And the September report includes omens of future inflation, notably the rise in housing costs.
00:06:36.000Actual rents rose 0.5% for the month, while owner-equivalent rents rose 0.4%.
00:06:42.000The latter is especially important because it makes up nearly a quarter of the Consumer Price Index, and the increase in housing costs show up in equivalent to owner rents with a lag.
00:06:50.000Housing costs have been soaring, with the Case-Shiller Index up nearly 20% in a year as of July.
00:06:55.000That increase will flow into the Consumer Price Index as of next year.
00:07:00.000Inflation is a monetary phenomenon and there's no question the Fed has been pursuing one of the most radical monetary experiments in history since April 2020.
00:07:07.000By basically just paying everybody to stay home and making credit free.
00:07:11.000The breadth of the goods and asset price increases suggests a monetary cause.
00:07:15.000Pick a financial asset or material commodity as prices climb.
00:07:19.000A plot in Johnson County, Iowa recently sold for $26,000 an acre.
00:07:24.000So much money is chasing assets that smart or manipulative folks have been inventing assets like non-fungible tokens for investment, some of which don't actually have any openly and obviously tangible value.
00:07:33.000There's a reason the Bitcoin has been rising over the course of the last couple of years.
00:07:37.000All this is good news for asset holders, but workers are paying the price.
00:07:40.000And here is the key for the manufacturing base that Joe Biden needs to win in 2024 and Democrats need to hold in 2022.
00:07:48.000Real average hourly earnings rose 0.2% in September.
00:07:55.000Real hourly earnings are down 1.9% since January, when Joe Biden became president.
00:08:00.000The White House knows this has become a political problem, which is why it's ignoring inflation and instead focusing on its frantic, if belated, efforts to fix supply chain bottlenecks.
00:08:10.000If they really want to help with supply, they need to forego their planned tax and regulatory increase on producers.
00:08:40.000I've seen pretty much all of these things.
00:08:43.000As you know, if you've watched even five minutes of the news in the last year, criminals have become more and more aggressive from New York to Los Angeles.
00:08:48.000Business owners are feeling the effects of the defund the police movement.
00:08:52.000In fact, I was just texting with a friend in Los Angeles yesterday, and he was saying that he has friends who are being literally just held up at gunpoint.
00:09:00.000Thanks in part to diminishing our police force, it's never been more important to protect the people and assets essential to you.
00:09:07.000So if you're a business owner looking to beef up your security or you're in need of a comprehensive risk assessment, I suggest you follow the Daily Wire's lead and go with Fortified Risk Group.
00:09:16.000These are the people that I work with.
00:09:46.000All right, so the White House continues to downplay inflation, even though it obviously is a serious problem.
00:09:53.000Patrice Onwuka is the director of the Center for Economic Opportunity at the Independent Women's Forum.
00:09:57.000She writes for the Washington Post, Dollar Tree has already been testing prices up to $5 at its Plus and Combo stores.
00:10:03.000It resisted pressure from investors in recent years to ditch the dollar barrier in its traditional stores.
00:10:06.000a buck policy. Dollar Tree has already been testing prices up to $5 at its plus and combo stores. It resisted pressure from investors in recent years to ditch the dollar barrier in its traditional stores. But now they've gotten rid of those. And the fact is that people are paying the price.
00:10:22.000A demographic profile of Dollar Tree customers reveals discount store shoppers skew older in the 45 to 64 age range and tend to be black.
00:10:30.000Not surprisingly, people in those groups fall in the lowest income brackets, below $60,000 annual income, and are less likely to be college educated.
00:10:38.000Dollar Tree's announcement of its policy change suggests prices could hit $1.25 to $1.50, which might not sound like much, but if you are spending your last $10 or $15 a month on necessities, that could be the entire margin.
00:10:51.000In every inflationary period, the elderly are especially vulnerable because their savings are going down, right?
00:10:57.000As you devalue the dollar, people who have money in the bank, that money becomes worthless.
00:11:01.000It's a tax on people who save inflation.
00:11:04.000It's also a tax on hourly wage earners.
00:11:06.000So the people who are getting hurt the worst by the Democratic blow-money-through-the-door policy are exactly the people Democrats are supposedly standing up for.
00:11:14.000So the White House has to downplay all this.
00:11:15.000Jen Psaki over at the White House, she spent the day yesterday downplaying the inflation and gas prices.
00:11:21.000We are very well aware for a range of issues, and we should talk about those, that the American people are of course impacted by rising prices of gas in some parts of the country, not all, and also looking ahead to the winter season and looking at natural gas supply out there.
00:11:41.000Maybe they don't look at it exactly through that prism, but I would say we do.
00:11:45.000Okay, and then she continued along these lines.
00:11:47.000She's being asked about inflation, and she makes the utterly asinine and disconnected statement that people are not comparing prices to a year or two years ago, so she doesn't care about the inflation statistics.
00:11:57.000Um, let me just say, you know what people do care about?
00:12:00.000They care about whether their prices have inflated over time, and how much of their money they're spending, and whether their real hourly wages are going down or up.
00:12:07.000Like, that stuff does matter to humans.
00:12:09.000Not to Jen Psaki, of course, because she's a keyboard warrior, right?
00:12:11.000She spent her entire career in the warm, comforting arms of a government that pays her salary, or in a CNN air-conditioned studio.
00:13:13.000They just look at whether we are Democrats and then they decide they love it.
00:13:18.000It's like Nancy Pelosi yesterday saying that even if people don't know what's in the bill, they love the bill.
00:13:22.000That's not how you don't gauge public opinion that way.
00:13:25.000And Democrats are about to find out quite hard in 2022 that the American public does not assess these issues the way that professional politicos like Jen Psaki assess these issues.
00:13:35.000Meanwhile, one of the reasons that you are seeing price increases is not just the monetary phenomenon that has been created by the Federal Reserve over the course of the last two years and the Joe Biden plan to spend more money than God has ever seen, but also the problem with the poors, right?
00:13:48.000So we have these shipping bottlenecks.
00:13:50.000So let's talk a little bit about what exactly is happening with the shipping bottlenecks and why we have these shipping bottlenecks.
00:13:55.000So Dominic Pino, who writes for National Review, had a good piece in late September talking about this.
00:14:01.000He says, first, shipping is a global industry, but this crisis is largely an American problem.
00:14:05.000According to the 2020 World Bank HIS Market Container Port Performance Index, for example, not one U.S.
00:14:11.000port ranked in the top 50 global ports in terms of getting a ship in and out of port, according to Scott Lincecum, who writes for The Dispatch.
00:14:34.000Not because we don't spend on infrastructure, as the Biden administration would have you believe.
00:14:37.000The federal government could spend a quadrillion dollars on ports.
00:14:40.000It wouldn't change the contracts with longshoremen unions that prevent ports from operating 24-7, as they do in Asia, and send labor costs through the roof.
00:14:48.000According to Scott Lincecum, union dockworkers on the West Coast are making an average, an average, dockworkers, okay, of $171,000 a year, plus free healthcare.
00:14:56.000$171,000 a year plus free health care.
00:15:01.000And when you sign a crappy union contract on behalf of the Port of Los Angeles, which is a government agency, when you do that sort of thing, what you end up doing is incentivizing It turns out that rich union contracts, just like everywhere else in the American economy, tend to stagnate whoever the employer is and make it less effective.
00:15:20.000All the folks on the left who are big into unions, ah, unions are the bulwark of the middle class.
00:15:23.000Well, it turns out the union contracts are very good for the people who are members of the union and have jobs.
00:15:28.000And for everyone else, there are serious externalities and the ports are one of those casualties.
00:15:33.000The unions have been fighting automation at American ports for a long time because they are afraid that they're simply going to be replaced by machines.
00:15:39.000Also, according to this columnist for National Review, Dominic Pino, the pandemic is not the primary cause of the crisis.
00:15:48.000The pandemic merely immunitized a crisis that was long brewing.
00:15:52.000Much of the current mess in the United States was decades in the making, reflecting systemic labor and trade policies that decreased the efficiency and flexibility U.S.
00:15:58.000ports and the economy reliant on them enjoy in the best of times and desperately need in the worst.
00:16:03.000The problems we are enduring now will not be solved by a pandemic emergency stopgap measure.
00:16:09.000They require real changes to the way the industry works that will be difficult to design and implement and will encounter heavy resistance from interest groups that benefit from the status quo.
00:16:19.000So we've got real systemic problems in the shipping industry that are brought about by really bad trade policy and really bad union policy.
00:16:27.000And all of this is not fixable by Joe Biden saying words See, the way that shipping works, as Pino wrote back in June, is pretty complex.
00:16:40.000He points out that the global shipping industry is still behind from the pandemic and likely will be for quite some time.
00:16:45.000That is because there have been cancelled sailings and ships only like to ship when they are, the owners of the ships only like to ship when the ship is completely full because it takes like three weeks to send a ship from Asia to Los Angeles.
00:17:00.000If you have a cargo ship sitting in LA that's scheduled for Shanghai and the shipping line decides to cancel the sailing, that stinks for both the people trying to ship things out of LA and for people trying to receive things in Shanghai.
00:17:10.000But it also stinks for people trying to ship things out of Shanghai because the people running the Shanghai port were planning on using that same boat.
00:17:16.000They were planning on it being in Shanghai in three weeks.
00:18:50.000The FBI calls it one of the fastest growing crimes in America.
00:18:54.000Cybercriminals simply hack into vulnerable government, bank, or mortgage company servers where copies of your home title is stored.
00:18:59.000They forge your signature, saying you sold your home to them, and then borrow on your home and leave you in debt.
00:19:04.000You're not gonna know until the collection notices show up.
00:19:06.000So, go ahead and protect your most valuable asset today.
00:19:09.000Go to hometitlelock.com, register your address, see if you're already a victim, and use promo code RADIO for 30 free days of protection.
00:19:14.000Again, that is hometitlelock.com, promo code RADIO, hometitlelock.com.
00:19:19.000Okay, so the shipping shortages that are happening are not Only Joe Biden's fault.
00:19:24.000But they are certainly partly Joe Biden's fault.
00:19:26.000Because, as it turns out, when you drive prices up through inflation, and when you sign rich union contracts, and when you do all of these things, ignoring the realities on the ground, well, you end up with some bottlenecks.
00:19:38.000You have labor shortages because people are staying home from work.
00:19:40.000When you tell people not to go back to work, when you tell people you'll pay them to stay home, and then you have labor shortages on one end, bottlenecks in the system tend to pile up.
00:19:46.000It's sort of like how traffic problems happen.
00:19:49.000If you ever think about a traffic problem, you think, like, why are there traffic jams?
00:19:54.000All it takes, studies have shown, is a couple of cars going on an on-ramp a little bit slower than the rest of traffic.
00:20:01.000And the downstream effects on a crowded freeway are pretty dramatic because people start slowing up behind and suddenly have a bottleneck.
00:20:08.000So Joe Biden's plan is that he wants to keep the Los Angeles port open 24 hours a day, seven days a week.
00:20:14.000He pledged that this would relieve pressure on an overworked supply chain that has frustrated Americans and blossomed into a major economic shortcoming.
00:20:23.000There's only one problem with this plan.
00:20:26.000Biden said that the announcement had the potential to be a game changer in unclogging the nation's supply lines.
00:20:32.000So here was Joe Biden trying to blame private companies for the shipping delays, as opposed to, you know, the bad policy at the ports.
00:20:38.000Today's announcement has the potential to be a game changer.
00:20:42.000I say potential because all of these goods won't move by themselves.
00:20:48.000For the for the positive impact to be felt all all across the country and by all of you at home, we need major retailers who ordered the goods and the freight movers who take the goods from the ships to factories and the stores to step up as well.
00:21:07.000So it's all about the private companies who aren't picking up their stuff.
00:21:09.000Okay, so here is the problem with what Joe Biden is saying, aside from the fact that the man is not with us.
00:21:15.000According to the Washington Post, no right-wing outlet, the extended hours the administration is touting represent something less than the full around-the-clock operations that are typical of the world's most advanced cargo moving facilities.
00:21:32.000We have longshoremen unions that are being paid an absolute fortune.
00:21:36.000The port of Long Beach, which makes up one half of the nation's chief import gateway, began a pilot program late last month of late night and pre-dawn work.
00:21:43.000An administration official said Tuesday Long Beach had already gone to 24-7 and LA would be meeting that effort.
00:21:59.000port would be open for 60 additional hours each week, but Philip Sanfield, port spokesman, said he couldn't say how many L.A.
00:22:04.000terminals will now be in operating around the clock.
00:22:06.000Gene Sirocca, executive director of the L.A.
00:22:08.000port, said on Twitter, operational details are being discussed and worked out with supply chain stakeholders.
00:22:14.000Some industry executives described the administration's latest initiative, which the White House billed as nearly doubling the port's cargo handling hours, as incomplete.
00:22:22.000Matt Trapp, chief executive of the Harvard Trucking Association, whose members service the port, said the measure will make a big difference only if terminals abandon requirements for truckers to return a specific type of empty shipping container before collecting a full one.
00:22:33.000The problem with that, of course, is that if you don't actually have the empty shipping containers that are being returned to the port, then those ships can't leave, so they just stay there.
00:22:42.000And Craig Grosskart, Senior Vice President for Global Ocean at Seco Logistics said, Indeed, the administration said an additional 3,500 containers each week would move through the LA port during the new nighttime hours, thanks to promises from Walmart, FedEx, UPS, Target, Home Depot, and Samsung.
00:23:00.000The port expects to process almost 80,000 containers this week.
00:23:05.000So in other words, this is a minute upgrade from what was already being shipped in.
00:23:11.000The administration says giant companies will set an example that will spur others to follow, but longer working hours at the neighboring ports, which operate as a single complex under dual management, will only matter if trains, trucks, and warehouses all do the same.
00:23:22.000And truckers are reluctant to show up at the Long Beach port from 3 to 7 a.m.
00:23:26.000because they have nowhere to take containers at that hour.
00:23:30.000So basically, Joe Biden is trying to slap a tiny, tiny Band-Aid on a giant problem.
00:23:36.000That in the end is created by macroeconomic conditions that have been generated by the Federal Reserve and his work policies and bad union contracts and failure for years to upgrade the port contracts and how these things work.
00:23:48.000It turns out that bad policy has long tails, they have long tails, long downstream bad effects.
00:23:53.000We'll get to more on this in just one second first.
00:23:56.000Right now is an excellent time to refinance your home.
00:25:01.000The 24-7 talk by Joe Biden really means nothing.
00:25:05.000According to the Wall Street Journal back on September 30th, quote, a pilot program offering 24-hour container operations at the port of Long Beach hasn't attracted any truckers, any, more than two weeks since the extended hours began, highlighting challenges facing Southern California seaports as dozens of ships back up off the coast.
00:25:22.000Total Terminals International LLC, among the largest terminals at Long Beach, began September 13th to allow truckers to pick up containers between 3 and 7 a.m.
00:25:32.000So far, we've had zero deliveries, TTI Chief Executive Bill Parrott said.
00:25:37.000Parrott said TTI is talking to local trucking companies to see if the terminal can attract drivers to pick up and drop off boxes.
00:25:43.000The extended hours are among efforts at the neighboring L.A.
00:25:46.000and Long Beach ports to cope with a flood of imports this year that has swamped the critical U.S.
00:25:50.000trade gateway and snarled inland supply chains.
00:25:53.000The backups have led to a record number of container ships idling offshore for up to three weeks for berth space, an armada that peaked at 73 ships on September 19 and counted 64 vessels as of the end of September.
00:26:05.000The congestion is exacerbating storing costs and shipping delays for U.S.
00:26:08.000manufacturers and retailers all across the country.
00:26:11.000Most terminals are closed at least several hours a day during the week, with more limited operations on Saturdays and Sundays.
00:26:16.000The shift to 24-hour operations at one of Long Beach Port's six terminals was encouraged by the Biden administration, but it really hasn't done anything.
00:26:27.000Mario Cordero, the Executive Director of the Port of Long Beach and proponent of 24-hour operations, says the Port has asked major retailers to direct truckers to use overnight gates, but it will take time to set up new work patterns.
00:26:38.000We need their buy-in, so they can direct their dreyage companies to move this cargo.
00:26:42.000Jonathan Gold, Vice President for Supply Chain at the National Retail Federation, said retailers have concerns about the program's restrictions, as well as a nationwide shortage of the truck chassis that are used to transport sea containers.
00:26:53.000Dreyage companies, which specialize in hauling cargo by truck from ports to local yards and distribution facilities, say the overnight system is burdensome.
00:27:00.000Truckers can only make an appointment to pick up a container if they're able to drop off a specific type of container and chassis during the same run.
00:27:07.000Getting everything to match up can be difficult, said Matt Schrapp, chief executive of the Harbor Trucking Association.
00:27:11.000Schrapp said, I commend TTI for what they're trying to do, but if you can't get the appointment in the first place because it doesn't line up, it doesn't make any difference.
00:27:19.000Herod said that the terminal accepts containers from seven ocean carriers, but truckers are limited by the type of chassis they're actually able to drop off.
00:27:40.000How bad are they going to get for Americans?
00:27:42.000And I'm talking specifically, you know, leading here into the December holidays, where people are relying on getting goods, on getting presents.
00:27:53.000Well, I think there's always been two kinds of Christmas shoppers.
00:27:55.000There's the ones who have all their list completed by Halloween, and then there's people like me who show up at the mall on Christmas Eve.
00:28:02.000If you're in that latter bucket, obviously there's going to be more challenges.
00:28:08.000By the way, Pete Buttigieg, according to internal Democratic polling, is like the number two shot to replace Joe Biden behind Kamala Harris.
00:28:16.000What a world of joy they have over there in the Democratic Party.
00:28:19.000Meanwhile, the White House is saying, you know, we can't give you any answers as to the supply chain crisis and how that's going to affect Christmas.
00:28:46.000What we can do is use every lever at the federal government disposal to reduce delays, to ensure that we are addressing bottlenecks in the system, including ports and the need for them to be open longer hours so that goods can arrive.
00:29:08.000Okay, except that this is a complicated process, and you guys can't just flip a switch and then suddenly open this stuff up.
00:29:20.000Not unless you're willing to go to war with the Longshoremen's Union, so it'll be interesting to see if the Biden administration is indeed willing to go to war with its union constituents over the port.
00:29:29.000Because this is one area where the United States has really been lacking for a very long time.
00:29:33.000And I guarantee you, the people who've been signing the contract with those union workers, I promise you, they all work for the Democratic Party.
00:29:39.000Meanwhile, the good news is that Joe Biden continues to not be with us.
00:29:42.000So Joe Biden did this little presser yesterday.
00:29:44.000He got tongue-tied trying to say supply chains.
00:30:26.000Meanwhile, the Fed is talking about tapering.
00:30:28.000So if you've thought that the economy was going to be a problem for Joe Biden, it is going to get a lot worse because the fact is that when the Fed tapers, you're going to start seeing spending drawbacks.
00:30:39.000And so that's going to tamp down on inflation.
00:30:41.000I mean, the Fed should never have been pursuing monetary policy this loose in the first place.
00:30:45.000But when they start tapering, get ready for the world of hurt to descend on the Biden administration.
00:30:51.000According to the Wall Street Journal, Federal Reserve officials last month worried that disrupted supply chains were raising the risks of more persistent inflation as they firmed up plans to reduce their bond buying stimulus program next month and conclude it by the middle of next year.
00:31:03.000Under plans discussed last month, the Fed would reduce its purchases by $15 billion a month, divided proportionally between Treasury and mortgage bonds.
00:31:10.000Officials discussed starting the taper in mid-November.
00:31:12.000If they follow the schedule penciled out last month, purchases would conclude by June.
00:31:16.000That schedule for phasing out the Fed's stimulus program is somewhat faster than investors had anticipated just a few months ago.
00:31:23.000Officials don't want to be in a position where they feel compelled to raise rates at a time when they are still fueling monetary stimulus by purchasing assets.
00:32:22.000Well, when you post a job on ZipRecruiter, they send you the most qualified people for your job.
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00:32:34.000She says, I love that feature because we have a much higher follow through rate if I invite candidates. It's easy for me. It's easy for them. In fact, according to ZipRecruiter internal data, jobs where employers use ZipRecruiter's invite to apply get on average two and a half times more candidates, which helps make for a faster hiring process.
00:32:50.000So, if you're a business in need of great employees, head on over to ZipRecruiter.com slash DailyWire, D-A-I-L-Y-W-I-R-E, to try ZipRecruiter for free.
00:33:06.000Not only did we have an awesome showing of Backstage at the Ryman this past Tuesday, we also dropped some awesome news.
00:33:12.000The Daily Wire has a bunch of new projects in the works that are going to change the way you stream because we are bringing you even more non-woke content that you literally will not be able to find anywhere else.
00:33:21.000I'm pleased to announce we have now officially dropped the teaser trailer for Shut In.
00:33:25.000This is Daily Wire's first original production.
00:33:28.000The film, which is just, it's a tight, awesome, tense thriller.
00:33:32.000It follows a young mother who's barricaded inside a pantry by her violent ex-boyfriend.
00:33:36.000She has to use her ingenuity to protect her two small children from escalating danger while finding an escape route.
00:33:41.000It really is, it's pretty riveting stuff.
00:33:43.000Here's a 60 second look into a thriller you're not going to want to miss.
00:35:30.000After we announced our first project this summer, the Hollywood Union started debating vaccine mandates, forecast, and crew, and I wasn't into that.
00:35:39.000I don't believe anybody gets to make your medical choices for you, and I'm not willing to force masks and vaccines on anyone else.
00:35:48.000Thank you to all the Daily Wire members.
00:35:50.000You guys have been an extended family.
00:35:52.000Thank you to everybody for making this possible without you.
00:35:56.000I don't know where I'd be right now, and right now there's no other place I'd rather be.
00:36:12.000This is all coming to The Daily Wire in 2022, so there's no better time to join us than right now.
00:36:16.000Head on over to dailywire.com slash subscribe, enter code 2022, for 25% off your membership.
00:36:22.000That's dailywire.com slash subscribe, code 2022, 2022, for 25% off a new Daily Wire membership, and stay tuned.
00:36:30.000We have a lot more updates and new content coming.
00:36:32.000You're listening to the largest, fastest growing conservative podcast and radio show on the nation.
00:36:35.000Meanwhile, the Democrats continue to talk about blowing out the spending.
00:36:44.000Representative Pramila Jayapal, who's become sort of the voice of the squad when it comes to spending because she doesn't sound quite as crazy as AOC or Ayanna Pressley or any of the other members of the squad.
00:36:53.000She's out there basically holding Joe Biden's feet to the fire, saying we want as much spending as humanly possible.
00:37:02.000There are two people that still need to come on board, and the president is, in many ways, in my view, the best person to be talking to them.
00:37:10.000The real negotiation here is with the president, because this is the president's agenda.
00:37:15.000This isn't some, you know, agenda of 10 senators that was developed separate from everyone else.
00:37:47.000Here's Representative Jayapal on that.
00:37:50.000For us, we've been very clear that 98% of all Democrats agree.
00:37:53.000So this idea that somehow Democrats are in disarray and there's terrible disagreement, it's not true.
00:37:58.000We're waiting for two people to tell us what they agree on, first of all, because they don't agree with each other, and then we'd like them to tell us what they want us to consider that is different Okay, it's going to be fascinating to see how this plays out, frankly, because Manchin and Sinema have basically no incentive to make a deal with people like Pramila Jayapal.
00:38:26.000If you are a senator from Arizona in a very purple state, or from a very red state like Joe Manchin is, And you are seen as having signed off on a big spending plan.
00:38:42.000And meanwhile, if you're Pramila Jayapal or Bernie Sanders, what's the upside for you in signing off on a fairly moderate spending plan, according to you?
00:38:53.000But it's going to be hard for Democrats to bridge this gap.
00:38:56.000If they finally do bridge the gap, I'm not sure they get much of a win out of any of it.
00:39:00.000And yet this is what they're spending their time on.
00:39:02.000And the American people are like, you guys are arguing amongst yourself over how much money we should spend when we are literally earning less month on month than we were the month before, thanks to inflation.
00:39:11.000And you're telling us that we can't go back to work.
00:39:14.000This is policy that is designed to make life worse for Americans.
00:39:18.000And Democrats are going to pay the price for this.
00:39:42.000It is the job of political officials to balance all of the interests.
00:39:45.000This is true in all public policy, literally all of it.
00:39:48.000There's not a single public policy that does not have costs and benefits.
00:39:52.000There are public policy costs to setting a speed limit at a particular speed.
00:39:56.000If you slowed everybody down to 30 miles an hour, there'd be many, many fewer deaths on the roads.
00:40:02.000However, you would also ding the economy by a pretty significant margin.
00:40:06.000So we make that public policy trade-off.
00:40:08.000When it comes to COVID, the same has been true since the beginning.
00:40:11.000You were going to have to decide what the trade-offs were, whether the trade-offs were worth it, what sort of mitigation measures could be put into effect.
00:40:18.000And our public health officials were telling us lies.
00:40:20.000They were telling us that we could bring the pandemic to an end and eradicate the disease totally.
00:40:24.000And this has led the Democrats down the primrose path to hell here.
00:40:26.000So on the one hand, they want to spend as much money as humanly possible.
00:40:29.000On the other hand, they want to tell you you never have to go back to work.
00:40:31.000And then they wonder why stagflation is happening.
00:40:34.000Well, finally, Anthony Fauci is coming around to reality.
00:40:36.000So Anthony Fauci yesterday, he finally admitted, we're not going to eradicate this disease.
00:40:40.000Now, anybody who thinks that Anthony Fauci is a hero, you're just crazy.
00:40:45.000And there's this whole Disney Plus documentary about Fauci.
00:40:47.000And I have to say, the Rotten Tomatoes ratings are hilarious.
00:40:49.000It's like 96% positive from the critics, 2% positive from the audience at Rotten Tomatoes.
00:40:57.000People think that Fauci shifts his opinion day to day based on what the administration is telling him, which is true.
00:41:03.000Just a couple of weeks ago, he went on national TV and he said, it's not okay if you even get a breakthrough illness, which of course is very silly.
00:41:09.000Now, as the administration starts to realize that if they actually wish to save themselves, economically speaking, they have to get people back to work.
00:41:16.000They have to stop with the COVID panic.
00:41:18.000Now you hear Fauci trying to walk it back.
00:41:19.000So here he was yesterday saying, we're actually, for all the talk about how we need to get rid of the disease, it's not going to happen.
00:41:25.000We are seeing now a decline in acceleration and a turnaround of cases.
00:41:34.000As I mentioned, it is going to be very difficult, at least in the foreseeable future and maybe ever, to truly eliminate this highly transmissible virus.
00:41:44.000And again, as I mentioned, we've only eradicated one.
00:42:01.000If there are zero cases in a school, then they say, well, it must be because of the masks.
00:42:05.000And then if you say, well, okay, then when do we get to remove the masks?
00:42:08.000They say, well, never, because the virus is still out there.
00:42:11.000If you say, why aren't people going back to work?
00:42:14.000They'll say, well, you never know, somebody could get sick.
00:42:16.000You're like, yes, but people should go back to work.
00:42:17.000They say, yes, but somebody could get sick.
00:42:20.000They've created a pathological public.
00:42:22.000This is what the media and the Democrats have done.
00:42:24.000And Dr. Fauci and our public health establishment.
00:42:26.000They've created a pathological fear of a virus that should not be feared at this point by pretty much anybody other than people who are uniquely compromised, immunocompromised, or very, very elderly.
00:42:39.000There's no reason to spend enormous quantities of brain power worrying about COVID these days.
00:42:45.000Now that the vaccines are available, it's over.
00:42:49.000If the vaccines are available and you choose to get a vaccine, you shouldn't be worried.
00:42:52.000If you choose not to get a vaccine, you're probably not getting vaccinated because you're not particularly worried.
00:42:57.000But for certain segments of the population, The paranoia has set in and the paranoia will not leave until you will get more mandates.
00:43:04.000You'll get more attempts to cram down, more attempts to control, even though you now have the government openly admitting you're not going to be able to eradicate this virus.
00:43:51.000The total number of children in the United States who have died over the course of this pandemic with COVID-19, not just from with, is under 600.
00:44:00.000During that same time, total number of kids who have died from pneumonia, closer to a thousand.
00:44:06.000According to Dr. Marty McCarry from Johns Hopkins University, total number of kids, total, in the United States, who have died from COVID-19 without a significant pre-existing condition is somewhere, he said this on the show last week, is somewhere between 10 and 20.
00:44:21.000And Mark Cuban is saying that he's going to yell at you and force you to get vaccinated and be in your MFing year because his kids are at risk?
00:44:27.000The only way you can believe this is if you've been propagandized to.
00:44:29.000Democrats have put that propaganda out there for too long.
00:46:02.000Okay, but by the way, Rogan didn't stop there.
00:46:03.000He also went after Gupta because he's on CNN and he was like, um, so I took ivermectin and people kept saying on CNN that it was horse dewormer and you guys are liars.
00:46:12.000Here is here's Rogan just shellacking Gupta over it.
00:46:14.000Horse dewormers, not a flattering thing, I get that.
00:47:29.000And suddenly they were living a completely different life than they were like five years ago.
00:47:33.000And the answer is that the human brain is quite adaptable.
00:47:35.000People adapt to new circumstances very quickly.
00:47:37.000That is the great superpower of humanity.
00:47:39.000We can adapt to nearly every circumstance.
00:47:41.000It also means that we can reorient our brains to really bad ideas incredibly quickly and start living in line with those ideas to our own detriment.
00:47:49.000And it's very hard to shake us from that.
00:47:51.000After we get to that, unless there is good leadership, this is where leadership comes in and statesmanship.
00:47:55.000Unless you have people who are out there actively battling these pathologies, these mental pathologies that people now have about this, This is going to remain for a long time.
00:48:03.000And Joe Biden has, he helped create the pathology.
00:48:52.000Remember because the New York Post posted it and we weren't allowed to post it for a month and all that?
00:48:56.000Well, it turns out now that, yeah, it gets a lot worse for Joe Biden.
00:48:59.000According to the UK Daily Mail, President Biden could become embroiled in an FBI investigation of Hunter Biden's finances, experts say, as emails reveal the father and son shared bank accounts and paid each other's bills.
00:49:12.000Remember all those emails about 10% for the big guy and all of that?
00:49:16.000Yeah, well, if they shared bank accounts, that gets a lot more suspicious.
00:49:19.000Emails recovered by DailyMail.com from Hunter's abandoned laptop between Hunter and Eric Schwerin, his business partner at consultancy Rosemont Seneca, show that Schwerin was working on Joe's taxes, discussing the father and son paying each other's household bills, and even fielding requests for a book deal for the then-Vice President, as well as managing the donation of Joe's Senate papers to the University of Delaware.
00:49:38.000It's unclear why Schwerin had this intimate role in the VP's affairs, rather than government officials in the office of the Vice President.
00:49:45.000Hunter's claimed that he and his dad shared a bank account also raised serious questions whether funds from the alleged joint account were used for Hunter's May 2018 week-long bender with a prostitute in a Hollywood hotel.
00:49:55.000Last December, Hunter admitted in a public statement he was under federal investigation over his tax affairs.
00:50:00.000But Joe Biden wants to look into your $600 transactions with the IRS.
00:50:05.000The rules do not apply to the specials like Joe Biden.
00:50:08.000All righty, coming up a little bit later today, we'll have one additional hour of content coming up soon.