The Ben Shapiro Show - The Biden Administration’s Complete Collapse | Ep. 1464

00:00:00.000 We here at The Daily Wire are ready to go to war with Disney to protect children.

00:00:03.000 The Biden administration sees record low approval ratings as the economy teeters on the brink of recession and America prepares for a new border crisis.

00:00:10.000 I'm Ben Shapiro.

00:00:11.000 This is the Ben Shapiro Show.

00:00:18.000 The Ben Shapiro Show is sponsored by ExpressVPN.

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00:00:27.000 We'll get to the news in just one moment.

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00:01:34.000 Well, as we've been talking about, the employees at Disney are apparently ready to indoctrinate your kids in queer theory and wokeness and sexual indoctrination.

00:01:44.000 This is what they are ready to do.

00:01:46.000 I don't say this because I'm attributing motive to them.

00:01:48.000 I say this because they said it.

00:01:50.000 There was an all-hands meeting over at Disney in which multiple employees talked about spooning a bunch of left-wing sexual values into children's programming.

00:01:59.000 They said, in fact, that this was their goal.

00:02:01.000 They talked about how when you go to Disneyland, from now on, we have to be very, very careful that you don't label little girls princesses because they might be insulted.

00:02:08.000 They might, in fact, be princes.

00:02:09.000 You can no longer say things like, ladies and gentlemen, boys and girls. 0.89

00:02:13.000 Not only that, they say that they want to make this according to the corporate president of Disney, who has two queer children. 0.66

00:02:18.000 She says one pansexual child, nobody knows what that means, and one trans child, which seems to be kind of a coincidence.

00:02:24.000 I mean, it's amazing all of the genetic variation in one family there.

00:02:27.000 But this Disney corporate president said that she wants 50% of all characters at Disney to be LGBTQIA plus minus divided by sign, fractional sign, Percentage sign.

00:02:42.000 She wants half the characters to be that or people of color.

00:02:46.000 Half.

00:02:47.000 Because the idea is that your child must learn their values.

00:02:50.000 Must learn their values.

00:02:51.000 And this sheds a new light on the opposition that we have seen from the left to the Florida Parental Rights and Education Act.

00:02:58.000 Now, I'll be honest.

00:02:58.000 Originally, I thought that when the left saw the bill, the reason they freaked out is because they were misinterpreting the bill.

00:03:03.000 They hadn't read it.

00:03:04.000 They just listened to all the advocacy groups who said that the bill was called Don't Say Gay, and they literally thought, because some of them do, that the bill banned the word gay in the state of Florida, which clearly it does not, since I've now said the word gay several times in the course of this program, and I've said it many times over the course of the past couple of weeks, and not once has someone broken down the door to haul me away.

00:03:22.000 So obviously it was not a don't-say-gay bill, nor does the bill say that if there is a kid who has two gay parents, that if this kid says, my dads took me to Disneyland the other day, that the kid would be sued.

00:03:32.000 What it did say is that teachers were not allowed to indoctrinate children on these issues without parental permission, K-3, or as age appropriate beyond that.

00:03:41.000 That is what the actual bill says.

00:03:43.000 That's all the bill says.

00:03:45.000 So originally I thought that it was just a misinterpretation.

00:03:46.000 Maybe it was just that the left didn't understand the bill.

00:03:49.000 Then you see the footage from the Disney employees who are saying overtly that they wish to convert your children to a particular way of thinking about sexual mores and about gender identity and about boys being girls and girls being boys.

00:04:02.000 They wish to do this.

00:04:03.000 And there is one employee who literally said, and I quote, that this person said that they are pushing a quote, not so secret gay agenda.

00:04:13.000 Or not at all secret. 0.96

00:04:14.000 Gay agenda. 0.98

00:04:15.000 This is what the person said. 0.96

00:04:16.000 That's not my words.

00:04:17.000 That's their words.

00:04:18.000 It would be conspiracy theory if I said it.

00:04:20.000 If they say it openly, to each other, on tape, that's no longer a conspiracy theory.

00:04:25.000 It's just the thing that they are saying out loud.

00:04:27.000 And so you have to wonder at this point, the reason that they're opposing the bill in Florida, is it because they misconstrue the bill or because they actually understand the bill?

00:04:34.000 And they oppose the bill on its merits.

00:04:36.000 They want small children indoctrinated with their values, which is, of course, why it is a priority to them to put in animated shows for small children.

00:04:46.000 Lesbian couples making out and why it's important for there to be trans and non-binary and non-cis characters in children's cartoon programming.

00:04:54.000 It is not for the good of your child.

00:04:56.000 It is because they wish to hijack your child and to separate you from your child and to teach your child their values.

00:05:02.000 You are the enemy as a parent.

00:05:04.000 When we here at The Daily Wire, for months and months and months, we have been talking and putting into plan and putting into place a plan to do children's content.

00:05:12.000 Because the simple fact is that we've known for a long time that the left has been skewing children's content.

00:05:18.000 But we announced yesterday that over the next three years, we would be investing $100 million here at The Daily Wire into making children's entertainment content.

00:05:28.000 The reason being, I'm a parent.

00:05:30.000 I have three kids, eight, five, two.

00:05:33.000 And it used to be that I could turn on Disney Plus and feel relatively safe that if my five-year-old grabbed ahold of their remote and hit anything, that it would be okay.

00:05:42.000 I no longer have that sort of faith.

00:05:44.000 I didn't have that much faith before.

00:05:45.000 I pre-screened virtually everything my kids saw.

00:05:47.000 Now I have less than no faith.

00:05:49.000 Now I have negative faith.

00:05:50.000 And I think a lot of parents feel the same way.

00:05:52.000 We feel slapped in the face.

00:05:53.000 We feel that companies like Disney wish to hijack our children and use our own children against us and turn our children against us.

00:06:01.000 On behalf of their own values because they want to create a utopia for the adults.

00:06:03.000 That's what this is.

00:06:04.000 It's a bunch of adults who wish the world to work in a certain way.

00:06:07.000 And the only way for the world to work in that way is to indoctrinate your kids and my kids.

00:06:12.000 And it's painful to me on a personal level.

00:06:14.000 I'm a Disney lover.

00:06:15.000 I love Disney.

00:06:17.000 I grew up watching Disney movies.

00:06:19.000 My sisters and I, we didn't grow up a particularly rich family.

00:06:23.000 We grew up in a two-bedroom home in Burbank, California.

00:06:25.000 Until I was about 11 years old, I shared a bedroom with three of my siblings.

00:06:29.000 And all three of my siblings and I, when it was time to go to bed at night, my dad would put on a tape of Beauty and the Beast, and we would listen to the score, and we'd go to sleep.

00:06:38.000 So I grew up on Disney.

00:06:40.000 I know Disney lyrics better than pretty much anyone else I know.

00:06:42.000 We're Disney annual pass holders in California.

00:06:44.000 It makes me incredibly sad that Disney has decided to cave to the woke, and not just cave to the woke, to echo the woke, to become a woke machine.

00:06:52.000 It's very sad to me.

00:06:54.000 But just because I'm sad about it doesn't mean that we have any other option other than to build.

00:06:58.000 Because we can sit here and we can **** and moan about this.

00:07:00.000 We can complain about it.

00:07:02.000 We can say that it's really bad that Disney is doing this, and of course it's really bad that Disney is doing this.

00:07:05.000 In fact, it's perverse that Disney is doing this. 0.83

00:07:07.000 It's perverse that Disney wants to leverage its own values on sex.

00:07:12.000 into its programming to five, six, seven, eight-year-old kids. 0.93

00:07:16.000 That is screwed up in every possible way.

00:07:18.000 We can complain about it or we can build an alternative.

00:07:20.000 So we here at The Daily Wire, we are dedicating $100 million over the next three years to making children's programming so that you have a space where if you give your kid the remote, you're not going to have to worry that we're going to crap on your values because we reflect your values.

00:07:32.000 We like your values.

00:07:34.000 We don't think that you as a parent need to be undermined.

00:07:36.000 We think that you as a parent need to be reinforced.

00:07:39.000 We think traditional values are good.

00:07:41.000 We think that kids' innocence should be preserved.

00:07:44.000 They are not little widgets.

00:07:45.000 They are not sexual beings in waiting.

00:07:48.000 They are children whose innocence needs to be maintained, needs to be protected.

00:07:53.000 That is why we're... This is not just a monetary play, although we think that Disney has now opened up a market, because the woker the left gets, the more markets they open up for people who are willing to compete.

00:08:03.000 But this is not just a monetary play for us.

00:08:06.000 It is a monetary play because we believe in capitalism, but it is more than that.

00:08:08.000 It's an ideological play.

00:08:10.000 We think that you, people like you, parents who are listening to this program, that you are not willing to risk your kids and their future and the way that they think about the most important issues in life simply because Disney has a license to use Star Wars.

00:08:24.000 We don't think that that is who you are as parents.

00:08:26.000 And so we are going to produce an alternative.

00:08:28.000 It's not just enough to say that people should not consume Disney product because, I mean, listen, I won't.

00:08:32.000 And when it comes to the new light-year movie, I have no intention of showing my five-year-old boy a light-year movie in which there are lesbians making out. 1.00

00:08:39.000 This is not on my priority list.

00:08:41.000 I have no intent on showing my kids that film.

00:08:44.000 None.

00:08:45.000 But it's more than that.

00:08:46.000 Because it's one thing to say that you're going to temporarily pull your dollars from Disney, or that you're going to pull your dollars from a particular Disney movie.

00:08:52.000 It's another thing to start building alternatives.

00:08:54.000 Places where you know that your values won't be pissed and spit upon.

00:08:58.000 Places where you know that the left is not going to prey upon your children.

00:09:03.000 And that's what we're intending on building here at Daily Wire.

00:09:05.000 So as I say, yesterday, The Daily Wire co-CEO, Small G, Small K, God King, Jeremy Boring, announced that we here at the Daily Wire would be dumping $100 million into development of television shows for kids at DW Kids.

00:09:20.000 Here's what it sounded like.

00:09:21.000 Because of the great reporting of Chris Ruffo, we got to see leaked footage from inside Disney of high up Disney employees saying things like, we have a not so secret gay agenda.

00:09:34.000 Saying things like, we insert, we, we, uh, Make sure I get this quote right.

00:09:40.000 We're adding in queerness wherever we can. 1.00

00:09:44.000 And that, quote, no one is trying to stop the producer who is doing so.

00:09:48.000 Another executive within the company said, if anything, we don't have enough LGBTQIA representation in content made for very small children.

00:10:01.000 So what are we going to do about it?

00:10:02.000 But we're going to do the same thing we always do.

00:10:04.000 We're going to build alternatives.

00:10:06.000 Americans have enormous economic might.

00:10:08.000 They just don't have any alternatives.

00:10:11.000 The Daily Wire is building those alternatives.

00:10:13.000 And today I'm proud to tell you that we will be launching Daily Wire Kids.

00:10:20.000 So, this has been in the works for quite a while here at Daily Wire.

00:10:28.000 As I mentioned over at Daily Wire, we hired the VeggieTales writers to help create our first two children's shows.

00:10:33.000 One is called Chilla Time. 0.98

00:10:34.000 About a family of homeschooled chinchillas.

00:10:36.000 Again, appropriate for children of all ages.

00:10:38.000 And another one called Doodles with Noodles that centers on a man and his puppet giving drawing lessons. 0.74

00:10:43.000 When you describe stuff that way, it sounds silly, of course. 0.96

00:10:46.000 But all children's programming sounds silly.

00:10:48.000 The thing about this is that we are deadly serious that we mean to provide a safe alternative for your kids.

00:10:54.000 Where you are not going to have to worry that if you leave the room for five minutes, your kid is being told that he can be a she. 0.86

00:10:59.000 You're not going to have to worry about that.

00:11:00.000 You're going to have to worry about answering questions about the morality of various forms of marriage when you come back into the room after leaving your kid watching the latest episode of Paw Patrol.

00:11:10.000 You're not going to have to worry about that sort of stuff.

00:11:12.000 And we are willing to sink serious money into this.

00:11:14.000 In fact, we've committed to sinking serious money because we know that you're going to help us.

00:11:18.000 That's what we have.

00:11:19.000 And I've said this before, but it's true. 0.99

00:11:20.000 We've generated so much content over the past year alone.

00:11:24.000 We've generated three separate films.

00:11:26.000 We have another one that's coming out in just a couple of months.

00:11:28.000 We've generated all sorts of new series.

00:11:29.000 We've generated a publisher.

00:11:30.000 We've generated a razor company.

00:11:32.000 And we've done all these things because you guys help us.

00:11:35.000 And we need your help because here's the thing.

00:11:37.000 Has tens, maybe hundreds of millions of subscribers at this point.

00:11:41.000 Disney spends $25 billion a year on exactly the kind of programming that they claim they are going to use as a political weapon against you and your children.

00:11:50.000 And we are committing $100 million over the next three years.

00:11:53.000 We need your help.

00:11:55.000 I'm just gonna put it right out there.

00:11:56.000 Hey, obviously we make money from this because we believe there's a market out there.

00:11:59.000 We believe every time Disney spends a buck attempting to push its woke agenda, it is pushing more people into our corner.

00:12:06.000 But we are also first movers in the space, which means that we have to sink an enormous amount of time and money into the project to build an alternative.

00:12:14.000 And for us, kids content is a loss leader until it's not.

00:12:17.000 You're going to help us make it profitable, because if you do, we will provide an alternative.

00:12:23.000 And by the way, if we provide an alternative, it will force Disney to take you seriously.

00:12:26.000 It is not just that you will actually have something to show your kids where you can feel safe.

00:12:30.000 It is also that Disney might have second thoughts about caving to the most pathetically woke people on planet Earth, the people who want to hijack your kids.

00:12:37.000 They might have second thoughts. 0.97

00:12:38.000 They might start looking at that profit margin shrinking and think to themselves, hey, maybe we shouldn't make a story about a panda bear who happens to be a pansexual lesbian gymnast. 0.56

00:12:50.000 Maybe instead we should make something that appeals to five and six year olds, maybe. 0.96

00:12:53.000 And doesn't crap all over the parents.

00:12:55.000 Disney might have, again, markets matter.

00:12:57.000 There's a reason Disney doesn't tick off the Chinese, because they know the Chinese will use their market power.

00:13:01.000 There's a reason Disney doesn't care about ticking you off, because they know you're not going to use your market power.

00:13:05.000 So we want to give you the ability to use your market power and get good content in return.

00:13:10.000 And yes, leverage Disney into going back to a time when they protected the magic and innocence of childhood.

00:13:15.000 So, if you want to help us out, please go subscribe right now at dailywire.com slash subscribe.

00:13:19.000 Use code buildthefuture.

00:13:21.000 Again, that's buildthefuture. 0.96

00:13:22.000 You get 45% off your membership.

00:13:24.000 You get all sorts of good stuff anyway when you go to dailywire.com slash subscribe and use code buildthefuture.

00:13:29.000 You're helping us build the future on an ideological level.

00:13:31.000 You're going to get our kids content as soon as that is available in the next few months.

00:13:34.000 You're also going to get Terror on the Prairie with Gina Carano. 0.72

00:13:36.000 You're going to get access to the other movies that we've made ranging from Shut In to Run Hide Fight to the Hyperions.

00:13:42.000 You're gonna get all access with Maisie and hang out with me on just random nights and watch me answer questions about my kids and my life.

00:13:49.000 And I'll hang out with you and we'll get to know one another.

00:13:51.000 You can do all those things when you go to dailywire.com slash subscribe and use code buildthefuture.

00:13:54.000 You get 45% off your subscription today when you do that to help us provide your kids with the content they need to protect themselves against the nastiness of multi-billion dollar corporations that wish to weaponize your kids against you.

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00:15:16.000 Alrighty, meanwhile.

00:15:17.000 Joe Biden continues to be just an absolute horror show of a president.

00:15:21.000 The polling for Joe Biden gets worse and worse and worse.

00:15:24.000 There's one particular poll I want to talk about here.

00:15:26.000 This is a Quinnipiac poll.

00:15:28.000 According to Quinnipiac, Joe Biden's job approval is now at 36%.

00:15:34.000 So about 1 in 3 Americans actually thinks Joe Biden is doing a good job.

00:15:38.000 55% of Americans think he's doing a crappy job.

00:15:42.000 His approval on the economy is at 34%.

00:15:45.000 By the way, he has not hit the bottom yet.

00:15:47.000 He has not hit the floor.

00:15:48.000 See, the thing about Trump is that Trump had a very solid ceiling.

00:15:51.000 He was never going to break about 47%.

00:15:52.000 He had a very solid floor.

00:15:54.000 He was never going to break about 38% to the bottom.

00:15:57.000 Joe Biden has no ceiling and no floor.

00:16:00.000 When he entered office, he had a 60% approval rating.

00:16:02.000 And now he has a 34% approval rating on the economy.

00:16:05.000 And it is going south and it is getting worse and worse.

00:16:08.000 What are Americans' top concerns?

00:16:10.000 Their top concern is inflation.

00:16:11.000 30% say inflation is their top concern.

00:16:14.000 The invasion of Ukraine is their second concern at 14%. 0.62

00:16:17.000 And immigration is at 9%.

00:16:21.000 Now this is nightmare territory for Democrats because inflation is not going away.

00:16:26.000 As we'll get to in a second, the economy is on a razor's edge right now.

00:16:29.000 The invasion of Ukraine, despite the fact that Joe Biden says that he has rallied the world behind his cause, he has not actually ended the war in Ukraine.

00:16:37.000 And when it does end, it is likely to end with Vladimir Putin in a strengthened position with regard to, for example, oil fields in eastern Ukraine, as we'll get to in just a moment.

00:16:44.000 Immigration is the one that really is lurking here, because if you think that the immigration issue is dead, it is not dead by half.

00:16:50.000 As we'll explain in a second, we are about to see a massive, unprecedented wave of illegal immigration over the course of the next couple of months, facilitated by this administration.

00:16:59.000 Even Chuck Todd on MSNBC, he's saying this administration is just cratering.

00:17:04.000 I mean, this is like the dinosaurs.

00:17:07.000 Joe Biden, the dinosaur, is looking up in the sky and he sees the asteroid headed for Earth.

00:17:11.000 And all he can say is... There's Chuck Todd explaining.

00:17:16.000 When Bill Clinton and George W. Bush had midterms that went their way, their job approval rating was right around 50 or north of it.

00:17:23.000 Alright?

00:17:24.000 When you start dipping below 45, you've got a problem and you're going to have midterms that are in the bad to shellacking ratio.

00:17:30.000 President Biden's at 40.

00:17:31.000 George W. Bush was at 39% in 2006.

00:17:33.000 We know how that turned out.

00:17:37.000 Wow.

00:17:38.000 You never want to be in the shellacking territory.

00:17:40.000 He's about to take a shellac in, according to Chuck Todd.

00:17:44.000 Meanwhile, how deep are Democrats in their own colon?

00:17:47.000 So they're already talking about 2024 and where they're going to host the 2024 party convention.

00:17:52.000 And they're now talking about doing it in Chicago.

00:17:55.000 Geniuses over here.

00:17:56.000 Wanna win those big Midwestern states.

00:17:58.000 So you pick the bluest city in the entire Midwest that is rife with crime and run by one of the most unpopular mayors in all of America, Lori Loughlin.

00:18:06.000 Genius type stuff right here.

00:18:09.000 It makes perfect sense.

00:18:11.000 Meanwhile, Republicans are looking at Milwaukee and Nashville.

00:18:15.000 Both of which make a lot more sense.

00:18:16.000 Nashville is cooking.

00:18:17.000 I mean, by the way, we heard the Daily Wire, we know Nashville pretty well.

00:18:20.000 Milwaukee is pretty good.

00:18:21.000 That'd be a fine place for the convention.

00:18:23.000 Chicago for the Democrats.

00:18:24.000 Man, they are in such deep trouble.

00:18:28.000 And on the economy, they're in even worse trouble than I think they know.

00:18:31.000 So Larry Summers did an interview with Ezra Klein, formerly a Vox now of the New York Times.

00:18:35.000 Summers has been predicting for a year that serious inflation was on the way.

00:18:39.000 Now remember, the entire Democratic Party had gotten so far beyond the point where they thought inflation was a real thing, that they had embraced something called modern monetary theory.

00:18:47.000 Their theory was you could literally just spend money for the rest of time with no limit whatsoever.

00:18:53.000 Which meant, according to the modern monetary theorist, people like Elizabeth Warren, that the only thing separating America from greatness was just the willpower.

00:19:00.000 Just the willpower to spend.

00:19:01.000 There was no reality where if you spent too much money, you'd inflate the economy and you would end up with massive price increases that take a chunk out of American savings and act as a giant tax on Americans.

00:19:12.000 And that would never happen.

00:19:13.000 Well, here's the thing.

00:19:14.000 So Larry Summers predicted that.

00:19:14.000 It did happen.

00:19:16.000 And now, as our client over at the New York Times, who was very critical of Larry Summers, he was like, yeah, it turns out that that might've been wrong.

00:19:22.000 Turns out that Larry Summers was right.

00:19:24.000 So now, Larry Summers is going further.

00:19:25.000 He's saying this is not just a problem of inflation.

00:19:29.000 He's saying that we are basically going to fall into recession at this point.

00:19:34.000 I think the likelihood is that we will not return to 2% inflation without having at least a mild recession.

00:19:43.000 I think that the magnitude of the imbalances and excess demand in the labor market are sufficiently great that the odds are probably three and four that we will not get inflation down without running a recession.

00:20:01.000 Well this is a disaster area for the Democrats.

00:20:04.000 A full-scale recession?

00:20:07.000 Listen, I got it wrong.

00:20:08.000 I thought when Joe Biden took office that he was going to have at least two years of a good economy before we had a slowdown.

00:20:12.000 Because after all, the pandemic was coming to an end.

00:20:15.000 We had a working vaccine.

00:20:16.000 People were going to get back to work. 0.99

00:20:17.000 He wouldn't be stupid enough to superheat the economy. 1.00

00:20:20.000 He wouldn't be a moron enough to pour gasoline on a raging fire of demand. 1.00

00:20:24.000 Now when there are supply chain shortages, I mean, it would take a complete dunderheaded moron to... Oh, he did what? 1.00

00:20:30.000 Oh, no. 0.99

00:20:31.000 By the way, how bad is inflation?

00:20:33.000 According to one Bloomberg economist, Americans are having to spend, the average American household is spending $5,200 more compared to just last year.

00:20:46.000 $433 per month more on the same goods and services last year.

00:20:49.000 That's how bad inflation is.

00:20:50.000 It is worth five grand to you and your family.

00:20:52.000 Five grand a year.

00:20:53.000 That is a lot of money.

00:20:54.000 That is not a minor problem.

00:20:55.000 That is a massive problem.

00:20:58.000 These economists say accelerated depletion of savings will increase the urgency for those staying on the sidelines to join the labor force.

00:21:04.000 The resulting increase in labor supply will likely dampen wage growth.

00:21:08.000 So people will need to go back to work.

00:21:09.000 Employers may be able to lower the wages when that happens.

00:21:13.000 In the meantime, inflation is going to maintain.

00:21:16.000 So, speaking of inflation, that rapid inflation that is driving people out of their homes, now would be an excellent time for you to refinance.

00:21:23.000 Like, if you're thinking about that home, you're thinking about that mortgage, that is your biggest monthly bill, and you should just be prepared.

00:21:28.000 Just know that in five months, it's not going to be as good a time to refinance as it is right now because the interest rates are just going to go up.

00:21:34.000 I mean, the Federal Reserve has announced this already.

00:21:36.000 So, take advantage of a free mortgage review from American Financing today.

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00:22:01.000 Think of the difference that can make and then give them a call.

00:22:03.000 At 866-721-3300.

00:22:04.000 That's 866-721-3300.

00:22:04.000 Or, visit AmericanFinancing.net.

00:22:05.000 MLS182334 and MLSConsumerAccess.org.

00:22:06.000 Again, give them a call.

00:22:08.000 Or, visit AmericanFinancing.net.

00:22:08.000 866-721-3300 to get started.

00:22:10.000 Now, you might think, at this point, that the Biden administration would do something differently.

00:22:14.000 Again, give them a call 866-721-3300 to get started or visit AmericanFinancing.net.

00:22:21.000 Now you might think at this point that the Biden administration would do something differently.

00:22:25.000 I mean, after all, the alarm bells should be going off.

00:22:28.000 According to MarketWatch.com, a closely watched measure of the yield curve that serves as one of the bond market's most reliable recession indicators inverted on Tuesday, underlining fears about the economic outlook as the Federal Reserve considers aggressively hiking interest rates.

00:22:40.000 you The widely-followed spread between two-year bonds and 10-year Treasury yields intermittently dipped below zero.

00:22:47.000 It's down from more than 160 basis points a year ago.

00:22:51.000 The last time the spread inverted was August 30, 2019.

00:22:55.000 Traders are responding to the likely need for Fed policymakers to deliver a larger-than-normal half-point rate hike, and possibly more soon.

00:23:01.000 In order to combat inflation, Jerome Powell had opened the door to that a little bit earlier this month.

00:23:07.000 According to Mark Haefeli, a chief investment officer at UBS Global Wealth Management, the risk of an abrupt slowdown or recession has increased, along with the prospect of a swifter sequence of rate rises from the Federal Reserve and disruptions due to the war in Ukraine.

00:23:20.000 They were too slow to hit the interest rate increase button.

00:23:23.000 And so now they're going to have to slam on the brakes and people's face is going to hit the steering wheel.

00:23:28.000 That would be what that recession feels like right there.

00:23:30.000 Meanwhile, even Biden's own economic advisors are saying, you know what we need to lower the gas price?

00:23:35.000 Wait for it, wait for it, wait for it.

00:23:37.000 Oil supply.

00:23:38.000 Here is Biden economic advisor Brian Deese saying we need more oil supplies.

00:23:41.000 We'll find out in just a minute.

00:23:43.000 This administration has no intention of increasing oil supply.

00:23:47.000 We need more supply of oil in the short term so that we can bring down prices because it is the case that the gas is up about a dollar because we have shut off access to Russian oil to the global market.

00:24:00.000 It's the right thing to do.

00:24:00.000 We've done that.

00:24:01.000 Democrats and Republicans alike supported that effort to end imports of Russian oil.

00:24:06.000 And now we have to bring more supply on.

00:24:07.000 That's about U.S.

00:24:08.000 production.

00:24:09.000 It's also about using our reserves and working with producing countries around the world.

00:24:13.000 That's exactly what we're doing.

00:24:15.000 Well, here's the thing.

00:24:15.000 You're not actually doing that.

00:24:16.000 How do I know that?

00:24:17.000 Because according to WorldOil.com and Bloomberg, the Biden administration doesn't anticipate selling offshore drilling rights in the Gulf of Mexico through at least October 2023, effectively stretching a delay in that activity to a third year according to economic projections included in its newly released budget proposal.

00:24:36.000 The numbers show expected revenues from offshore oil auction bids and annual rental payments on existing leases are set to plummet in fiscal 2023 by about $370 million to just $25 million.

00:24:46.000 That reflects the government's typical haul from two auctions of oil and gas leases in the Gulf of Mexico.

00:24:51.000 The anticipated offshore leasing pause comes despite the war in Ukraine and high costs for oil, gas, and gasoline that have prompted administration officials to implore energy companies to pump more crude.

00:25:01.000 The Gulf of Mexico generates about 15% of the nation's crude production.

00:25:05.000 Based on the revenue projections in the Biden budget, there could be at least a three-year gap in the sale of new offshore oil and gas leases, according to Eric Milito, the head of the National Ocean Industries Association.

00:25:18.000 He said, it's pretty clear there are no new lease sales on the horizon in their mind from a budgeting standpoint until fiscal year 2024.

00:25:26.000 So they're not even selling new leases in the Gulf of Mexico.

00:25:30.000 So if you're a company and you're looking to invest, are you going to invest in that oil and gas company that can't even buy a lease in the Gulf of Mexico because of this administration?

00:25:37.000 So at the same time, they're saying, you know what we need?

00:25:38.000 We need to increase the oil supply.

00:25:39.000 They're saying we won't even sell leases to drill in the Gulf of Mexico.

00:25:44.000 That's unbelievable.

00:25:47.000 Interior Department officials have maintained there is no longer a leasing pause.

00:25:50.000 Under a court order, the Interior Department sold oil and gas leases in the Gulf of Mexico last November.

00:25:55.000 But a federal judge later invalidated the auction after finding regulators didn't analyze its climate impacts.

00:26:00.000 Though required by federal law, a new five-year plan for selling leases is not on track to be in place by June 30th, when the current Obama-era program expires.

00:26:08.000 This would translate into reduced oil and gas production of about 500,000 barrels per day between 2022 and 2040, according to an analysis released by the American Petroleum Institute.

00:26:19.000 So they are actively preventing new drilling in the Gulf of Mexico at the same time that gas prices are spiking.

00:26:25.000 These geniuses.

00:26:27.000 These absolute flaming geniuses.

00:26:29.000 So speaking of low oil supply and really, really high prices, thanks, Joe.

00:26:34.000 If you really want to cut back on those oil prices, don't wait for Joe Biden to fix it.

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00:27:19.000 Again, you are paying way too much money for gas because you're an American. 0.99

00:27:22.000 Americans right now paying way too much money for gas because of Joe Biden.

00:27:25.000 But you don't need to fall prey to all of Joe Biden's scurvy, scallywaggish plans.

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00:27:34.000 Use promo code SHAPIRO to get 25 cents per gallon or more cash back on that very first tank.

00:27:38.000 Okay, so issue number one for Americans.

00:27:40.000 You're spending way too much money.

00:27:42.000 Inflation is our number one issue.

00:27:43.000 Our number two issue is the situation over in Ukraine.

00:27:46.000 The problem with the situation over in Ukraine is it doesn't look like there is any sort of wonderful off-ramp that is available right now.

00:27:52.000 A lot of mixed signals coming out of Russia at the moment.

00:27:55.000 So on the one hand, according to the Jerusalem Post, Russia and Ukraine are in the midst of productive negotiations.

00:28:01.000 The Jerusalem Post says, Russia and Ukraine will resume their peace talks online on April 1st, a senior Ukrainian official said on Wednesday, after the latest round of negotiations ended in Turkey.

00:28:10.000 Ukrainian negotiator David Arakamia said in an online post that Ukraine had proposed the country's two leaders should meet.

00:28:16.000 Russia responded by saying more work needed to be done on a draft treaty.

00:28:21.000 A possible peace deal between Ukraine and Russia will be put to a national referendum in Ukraine as soon as Russian troops withdraw to their positions from before the invasion, according to Ukrainian negotiator Mikhailo Podolya.

00:28:31.000 Which is sort of an interesting thing.

00:28:32.000 So they want to sign some sort of peace deal with the Russians, in which the Russians retreat and withdraw, and then they'll put it to a referendum to see whether the Ukrainians go for it?

00:28:40.000 That sounds weird, and it would be strange if Putin went for that.

00:28:45.000 Podoliak said he was optimistic after the talks in Istanbul, as did the presidential advisor Alexey Aristovych, who claimed Ukraine had improved its negotiating position since before the start of the invasion on February 24th.

00:28:56.000 According to Aristovych, Ukraine is pushing to secure neutral status, but with external security guarantees.

00:29:00.000 So in other words, they won't join NATO, but NATO will kind of support them if things go real wrong.

00:29:06.000 According to Ukrainian Deputy Prime Minister Irina Bereshchuk, three humanitarian corridors from the Zaporozhye region were negotiated.

00:29:14.000 It's currently unclear when an official meeting between Putin and Zelensky would happen.

00:29:18.000 Podoliak said, noting that Russia has to respond to Ukraine's proposal and figure out logistics.

00:29:23.000 While Ukraine seems optimistic, Russia is differing.

00:29:26.000 According to Press Secretary Dmitry Peskov, he said, quote, the positive thing is the Ukrainian side, at least, has begun to formulate concretely and put down what it proposes on paper.

00:29:34.000 As for the rest so far, let's say we cannot state anything very promising.

00:29:36.000 So Russia is sending some pretty mixed signals here.

00:29:40.000 On the one hand, Russia is saying that they are withdrawing troops, but the reality is they're not really withdrawing the troops.

00:29:46.000 They've done this sort of thing before.

00:29:48.000 According to John Kirby over at the Pentagon, Russia is repositioning, they are not withdrawing.

00:29:53.000 Has there been some movement by some Russian units away from Kiev in the last day or so?

00:30:01.000 Yeah, we think so.

00:30:02.000 Small numbers.

00:30:04.000 But we believe that this is a repositioning, not a real withdrawal.

00:30:09.000 and that we all should be prepared to watch for a major offensive against other areas of Ukraine.

00:30:14.000 Okay, meanwhile, again, Moscow's chief negotiator Vladimir Budinsky had described proposals from Kiev in the negotiation as a constructive step, but Dmitry Peskov, that Kremlin spokesperson, he said, no one said the sides have made headway. We can't point to anything particularly promising at this point. Meanwhile, the White House is trying to put a happy face on this.

00:30:34.000 They say, well, you know, probably the problem here is that Putin is just being misinformed by his advisors.

00:30:37.000 They think that everybody around Putin is just lying to him about the situation on the ground.

00:30:42.000 Putin felt misled by the Russian military, which has resulted in persistent tension between Putin and his military leadership.

00:30:48.000 We believe that Putin is being misinformed by his advisors about how badly the Russian military is performing and how the Russian economy is being crippled by sanctions because his senior advisors are too afraid to tell him the truth.

00:31:00.000 Okay, so I have a question.

00:31:02.000 That is a weird thing to say publicly.

00:31:05.000 Maybe it's true that Putin's advisors are lying to him.

00:31:08.000 But if you say that publicly, doesn't that, again, double Putin down into his position?

00:31:13.000 Where is the off-ramp?

00:31:14.000 Alrighty, so there's a theory that's been put out by Brett Stevens over at the New York Times that's kind of fascinating.

00:31:19.000 And he says, what if Putin actually is not miscalculating here?

00:31:23.000 Here's what he has to say.

00:31:25.000 And if this is the case, then this is a big win for Putin.

00:31:27.000 Here's what he says, quote, Several analysts have compared Putin to a cornered rat, more dangerous now that he's no longer in control of events.

00:31:34.000 They want to give him a safe way out of the predicament he allegedly created for himself.

00:31:38.000 Hence the almost universal scorn poured on Joe Biden for saying in Poland, for God's sake this man cannot remain in power.

00:31:43.000 The conventional wisdom is entirely plausible.

00:31:45.000 It has the benefit of vindicating the West's strategy of supporting Ukraine defensively. 0.55

00:31:49.000 And it tends toward the conclusion that the best outcome is one in which Putin finds some face-saving exit, additional Ukrainian territory, the Ukrainian pledge of neutrality, a lifting of some sanctions.

00:31:58.000 But what if the conventional wisdom is wrong?

00:32:00.000 What if the West is only playing into Putin's hands again?

00:32:03.000 The possibility is suggested in a powerful reminisce from The Times' Carlotta Gall of her experience covering Russia's siege of Grozny during the First Chechen War in the mid-90s, says Brett Stevens.

00:32:13.000 In the early phases of the war, motivated Chechen fighters wiped out a Russian armored brigade stunning Moscow.

00:32:17.000 The Russians regrouped and wiped out Grozny from afar using artillery and air power.

00:32:21.000 Russia's operating from the same playbook today. 0.68

00:32:23.000 When Western military analysts argue that Putin cannot win militarily in Ukraine, what they really mean is he can't win clean.

00:32:29.000 Since when has Putin ever played clean?

00:32:30.000 Gall writes, there's a whole next stage to the Putin playbook, which is well known to the Chechens.

00:32:35.000 As Russian troops gained control on the ground in Chechnya, they crushed any further dissent with arrests and filtration camps and by turning and empowering local protégés and collaborators.

00:32:44.000 So Brett Stevens says, suppose for a moment Putin never intended to conquer all of Ukraine.

00:32:48.000 That from the beginning, his real targets were the energy riches of Ukraine's east, which contain Europe's second largest known reserves of natural gas after Norway.

00:32:56.000 Combine that with Russia's previous territorial seizures in Crimea, which has huge offshore energy fields, and the eastern provinces of Luhansk and Donetsk, which contain part of an enormous shale gas field, as well as Putin's bid to control most or all of Ukraine's coastline, and the shape of Putin's ambitions become clear.

00:33:11.000 He's less interested in reuniting the Russian-speaking world than he is in securing Russia's energy dominance. 0.74

00:33:17.000 Canadian energy expert David Knight-Legg says under the guise of an invasion, Putin is executing an enormous heist.

00:33:23.000 As for what's left of a mostly landlocked Ukraine, it will likely become a welfare case for the West, which will help pick up the tab for resettling Ukraine's refugees to new homes outside of Russian control.

00:33:32.000 In time, a Viktor Orban-like figure could take Ukraine's presidency imitating the strongman style of politics Putin prefers in his neighbors.

00:33:38.000 If this analysis is right, Putin doesn't seem like the miscalculating losers his critics make him out to be.

00:33:45.000 It also makes sense of his strategy of targeting civilians.

00:33:48.000 More than simply a way of compensating for the incompetence of Russia's troops, the mass killing of civilians puts immense pressure on Zelensky to agree to the very things Putin has demanded all along, territorial concessions and Ukrainian neutrality.

00:33:59.000 Within Russia, the war has already served to Putin's political purposes.

00:34:02.000 Many in the professional middle class have gone into self-imposed exile.

00:34:05.000 The remnants of a free press have been shuttered, probably for good.

00:34:07.000 To the extent that Russia's military has embarrassed itself, says Brett Stevens, is more likely to lead to a well-aimed purge from above than a broad revolution from below.

00:34:15.000 So maybe that's right.

00:34:18.000 So if that's right, then Putin is actually not in nearly as bad position as everyone says that he is.

00:34:25.000 And right now, he is putting significant pressure on the West to get Ukraine to make these sorts of concessions, obviously.

00:34:31.000 Which is what happens when deterrence fails.

00:34:34.000 German leaders have now triggered the first phase of an emergency plan aimed at preparing for a possible halt to gas deliveries over a dispute with Moscow about payment in rubles.

00:34:43.000 The move by Germany's Minister for Economic Affairs and Climate Action to initiate the early warning phase of its emergency gas plan was precautionary.

00:34:50.000 But they might have to actually implement gas rationing, which is disastrous domestically for Germany, obviously.

00:34:59.000 Putin knows this, so he's been sort of playing around with the ultimatum of forcing Germany to pay for its gas in rubles as opposed to in dollars, which could theoretically be frozen.

00:35:10.000 Meanwhile, Russia has now built a parallel payments system successfully.

00:35:14.000 According to the Wall Street Journal, there are roughly 197 million MasterCard or Visa cards in Russia at the end of 2020, but behind the scenes, the cards don't rely on U.S.

00:35:23.000 network systems to process payments in Russia.

00:35:25.000 For years, they've used a homegrown system overseen by Russia's central bank.

00:35:28.000 The National Payment Card System, known as NSPK in Russian, runs the financial plumbing that underpins card transactions in Russia.

00:35:36.000 That system was part of Moscow's eight-year effort to insulate the Russian economy from Western financial pressure.

00:35:42.000 And apparently they have succeeded.

00:35:43.000 The resilience of Russia's payment system is a rare win for Putin in his financial war with the West.

00:35:48.000 We provided for our national security in the payments space, said Oma Obayeva, the head of the National Payments Council, a Russian trade association.

00:35:55.000 So what this may mean is that Putin has helped his goal, which was to create some sort of financial autarky independent of Western payment systems, may have been facilitated by this war.

00:36:07.000 Now, maybe this is wrong.

00:36:09.000 Maybe Putin, the conventional wisdom is right.

00:36:10.000 Some of the stuff I've been saying is right.

00:36:11.000 Maybe Putin just miscalculated.

00:36:13.000 He thought there'd be no retaliation and there was and now he's stuck.

00:36:16.000 Either way, there isn't a great solution here for Biden.

00:36:20.000 There is no big win here for Biden.

00:36:21.000 There is no parade here for Biden.

00:36:24.000 So again, issue number one is inflation.

00:36:26.000 The economy's in the tank.

00:36:27.000 Issue number two is Ukraine.

00:36:29.000 Ain't no good solution there.

00:36:30.000 Issue number three, according to this Quinnipiac poll, is immigration.

00:36:33.000 We'll get to that one in just a moment because that's a disaster too.

00:36:36.000 So, if the economy, Ukraine, immigration, all this is making you a little queasy right now, I mean, it's making me a little queasy, and that's why I should really go pop on my Relief Band. 1.00

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00:36:58.000 I mean, it really is cool.

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00:37:00.000 Relief Band stimulates a nerve in the wrist.

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00:37:08.000 It's like the name says.

00:37:08.000 It's legitimately a band that you wear on your wrist to give you relief.

00:37:11.000 So it is very, very well named.

00:37:13.000 Good branding decision, ReliefBand.

00:37:14.000 The technology was originally developed over 20 years ago in hospitals to relieve patients from nausea, but now, through ReliefBand, it is available to the masses.

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00:38:56.000 Meanwhile, the Biden administration, that third issue, writes.

00:39:05.000 So we've got inflation, real bad.

00:39:07.000 We've got Ukraine, not great, Bob.

00:39:10.000 And now we have a massive, massive border crisis that is about to hit.

00:39:15.000 So yesterday, a bunch of GOP senators got together to talk about the simple fact that the Democratic Party and Joe Biden have facilitated a massive influx of illegal migration, and it's going to get a lot, lot worse.

00:39:24.000 Here's Senator Roger Marshall from Kansas talking about it.

00:39:28.000 They're now presenting their plan to us of what they're going to do when they take Title 42 off.

00:39:33.000 Their plan is to move people into the country faster.

00:39:37.000 That's their whole plan.

00:39:38.000 For all practical purposes, this White House has turned our Border Patrol into ushers.

00:39:43.000 A maitre d' saying, come on across the border.

00:39:46.000 And in many Border Patrol sectors, you're seeing them understaffed by about 40% because they simply can't do their job.

00:39:55.000 So that would have been James Langford, as well as Roger Marshall, as well as John Cornyn talking about the simple fact they are understaffed on the border.

00:40:02.000 Tom Cotton points out that the border records that have been set by this administration in terms of the amount of illegal immigration, which has not wavered really throughout the course of this administration, it's about to get a lot, lot worse.

00:40:13.000 Apparently Joe Biden is not resting on his laurels after setting the record last year.

00:40:16.000 He wants to break his own record in 2022.

00:40:19.000 We might have more than 2 million illegals crossing our border this year.

00:40:23.000 And as you said, Harris, those are not people seeking asylum from persecution.

00:40:28.000 They're coming for one reason.

00:40:30.000 That's because they know that Joe Biden will let them in.

00:40:33.000 Well, that is correct.

00:40:35.000 Hey, how do they know that Joe Biden will let them in?

00:40:38.000 Because according to the Los Angeles Times today, the Biden administration has reportedly drafted a plan to end a controversial border policy by late May that has prevented most migrants from seeking humanitarian protections at the U.S.

00:40:49.000 border.

00:40:51.000 The decision by the Centers for Disease Control and Prevention is not yet final, according to people familiar with the matter, but it would give officials time to prepare at the border before taking effect.

00:40:58.000 Department of Homeland Security officials have been in talks for weeks over how to respond to the potential influx of asylum seekers if the Trump-era policy known as Title 42 ended.

00:41:07.000 The policy invoked a 1944 public health statute to quickly remove migrants either to Mexico or to their home countries in an effort to curb the spread of COVID-19.

00:41:15.000 The CDC reassesses the need for the policy every two months and is expected to issue its latest decision this week.

00:41:21.000 Now, I'd just like to point out here that according to the Biden administration, the CDC has the power to issue eviction moratoria.

00:41:28.000 They believe that the CDC has the power to force employers to vaccinate their employees, or at least OSHA does.

00:41:37.000 But they're really skittish on whether we can bar people who might be COVID positive from crossing the border.

00:41:41.000 That's a problem.

00:41:42.000 Title 42, according to the LA Times, applies to adults traveling alone and to parents traveling with kids.

00:41:47.000 Last year, the Biden administration exempted kids traveling without a parent from being expelled under the policy.

00:41:53.000 Over the last two years, border authorities have used Title 42 to expel migrants in about 60% of encounters.

00:41:58.000 That would be 1.7 million expulsions.

00:42:03.000 But now, Biden is preparing an end to the policy.

00:42:07.000 Noah Gottschalk, Global Policy Lead for Oxfam America, which is challenging Title 42, said, quote, Without Title 42, migrants would once again be able to seek asylum in the United States.

00:42:15.000 Before the policy was enacted, asylum seekers were screened to determine whether they could stay in the U.S.

00:42:21.000 while simultaneously removing COVID restrictions across the country.

00:42:24.000 Without Title 42, migrants would once again be able to seek asylum in the United States. 0.94

00:42:29.000 Before the policy was enacted, asylum seekers were screened to determine whether they could stay in the U.S. while their cases moved forward.

00:42:36.000 So what will be the impact of that?

00:42:39.000 The impact is going to be absolutely earth-shatteringly dramatic.

00:42:44.000 According to CBS News, DHS is now developing contingency plans for several possibilities, including worst-case scenario in which 12,000 to 18,000 migrants would enter U.S.

00:42:54.000 custody daily.

00:42:55.000 Every day.

00:42:55.000 18,000 migrants.

00:42:55.000 Every.

00:42:56.000 Single.

00:42:56.000 Daily.

00:42:57.000 Everyday.

00:42:58.000 18,000 migrants.

00:43:01.000 Every single day.

00:43:03.000 Okay, just to make clear what that means, that means 540,000 migrants entering the United States every single month.

00:43:12.000 Every month!

00:43:15.000 Half a million migrants entering the United States every month.

00:43:18.000 That's what the Biden administration is doing right now.

00:43:22.000 U.S.

00:43:23.000 border officials who reported a record 2 million migrants arrested in 2021 are currently encountering an average of 7,100 migrants per day, which is still an extraordinary number.

00:43:31.000 If pandemic-era capacity limits are eased, CBP short-term facilities across the border would be able to hold about 16,000 migrants on any given day, but they're not processed inside of one day.

00:43:40.000 So they'd be overwhelmed inside of, like, a day.

00:43:44.000 The government would need to expand Border Patrol's holding capacity to accommodate between 25,000 and 30,000 migrants in the U.S.

00:43:51.000 custody on any given day if the worst-case scenario is materialized.

00:43:54.000 So double it.

00:43:56.000 Such a scenario would also require the government to dispatch up to 2,500 law enforcement officers, 2,750 support staff, and 1,000 medical personnel to the U.S.-Mexico border.

00:44:06.000 A DHS official said that the worst-case scenarios are not government projections.

00:44:09.000 They said that we have to be prepared for the worst.

00:44:11.000 But if they even increase by a factor of 50%, you're talking about 10,000 migrants every single day, 300,000 migrants a month.

00:44:20.000 You spread that over the course of, say, six months, and you are talking about 1.8 million.

00:44:25.000 That's like a moderate estimate.

00:44:26.000 If you're talking half a million a month, there's about three million illegal immigrants attempting to cross that border every six months.

00:44:35.000 That's insane.

00:44:37.000 So yeah, is Joe Biden going to have a successful rest of his presidency?

00:44:40.000 Let's just put it this way.

00:44:41.000 He's at 36% now, according to the Pew polls.

00:44:43.000 And on the top three issues, he's so wildly underwater that it is impossible for him to reach the surface again.

00:44:49.000 This presidency is cratering.

00:44:51.000 It's not just cratering.

00:44:53.000 Half of the Earth has blown off of its axis and is now floating through space.

00:44:56.000 That's how bad the crater is.

00:44:57.000 The asteroid has actually separated the Earth into two separate pieces.

00:45:00.000 That's how bad the polling data is.

00:45:02.000 So Joe Biden's administration is in serious, serious trouble.

00:45:05.000 Alrighty, we've reached the end of today's show.

00:45:08.000 However, we'll be back here later today with an additional hour of content.

00:45:10.000 In the meantime, go check out one of our newest podcasts, Morning Wire.

00:45:13.000 Today's episode available right now on Apple, Spotify, or wherever you listen to podcasts.

00:45:16.000 Make sure to tune in.

00:45:17.000 I'm Ben Shapiro.

00:45:17.000 This is The Ben Shapiro Show.

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00:45:32.000 We're available on Apple Podcasts, Spotify, YouTube, or wherever you get your podcasts, and be sure to check out some of our other Daily Wire shows.

00:45:39.000 The Ben Shapiro Show is produced by Elliot Feld, executive producer Jeremy Boring, our supervising producer is Mathis Glover, and our production manager is Pavel Lydowsky.

00:45:48.000 Associate producer, Bradford Carrington.

00:45:50.000 Editing is by Adam Siovitz.

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00:46:00.000 Copyright Daily Wire 2022.

00:46:03.000 Hey there, this is John Bickley, Daily Wire Editor-in-Chief and co-host of Morning Wire.

00:46:08.000 On today's episode, the Federal Reserve warns of a possible housing bubble as prices skyrocket, leaked video of a Disney company-wide meeting sparks more controversy, and China locks down Shanghai.

The Ben Shapiro Show - March 31, 2022

The Biden Administration’s Complete Collapse | Ep. 1464

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