The Ben Shapiro Show - The Coming Biden Recession | Ep. 1432

00:00:00.000 Inflation pops to a 40-year high as Joe Biden threatens further spending, the left keeps attacking the Freedom Convoy, and Russia continues Ukrainian invasion preparations.

00:00:08.000 I'm Ben Shapiro.

00:00:09.000 This is the Ben Shapiro Show.

00:00:11.000 Today's show is sponsored by ExpressVPN.

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00:00:20.000 Join them at expressvpn.com slash Ben.

00:00:23.000 We'll get to all of the economic news in just one moment.

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00:01:22.000 While all the news for Joe Biden at this moment continues to not be very good, despite a very good employment report that came out just last week, inflation is threatening to rear its ugly head.

00:01:29.000 And when I say threatening, I mean it's here.

00:01:32.000 That's EXPR, ESSVPN.com slash Ben to learn more.

00:01:36.000 While all the news for Joe Biden at this moment continues to not be very good, despite a very good employment report that came out just last week, inflation is threatening to rear its ugly head.

00:01:46.000 And when I say threatening, I mean it's here.

00:01:47.000 The stock futures are already pointing to more losses amid surging inflation.

00:01:51.000 According to the Wall Street Journal, US stock futures fell and bond yields largely rose, suggesting volatility driven by higher than expected inflation data would extend into a second day.

00:01:59.000 Futures tied to the S&P 500 declined 0.6% on Friday, suggesting the broad index is set to fall further after it closed down 1.8% on Thursday.

00:02:08.000 In pre-market trading, Zillow rose 13% because it reported a jump on revenue for its core unit.

00:02:13.000 However, some major tech stocks edged down pre-market, including Netflix, which lost 1.3% and Nvidia down 1%.

00:02:20.000 Stocks have been very choppy this week.

00:02:22.000 The reason that stocks have been choppy, of course, is because these inflation statistics underscore the challenges the United States economy is about to face, because either the Federal Reserve is going to have to pretty dramatically raise interest rates or this inflation is going to continue.

00:02:34.000 And if they dramatically raise inflation rates, you're going to get less investment.

00:02:37.000 And if you get less investment, you're going to get Less return on investment.

00:02:42.000 It's pretty much that simple.

00:02:43.000 Either you're going to get more inflation or you're probably going to tip over into a recession.

00:02:47.000 There's also the possibility of both considering Joe Biden's garbage regulatory policy.

00:02:51.000 We'll get to that in a moment.

00:02:53.000 There's a reason why Joe Biden is completely collapsing in the polls.

00:02:56.000 There's a brand new poll from CNN.

00:02:58.000 Nearly 6 in 10, 58% of Americans say they disapprove.

00:03:03.000 On the question, what has President Biden done for you?

00:03:06.000 56% of Americans say nothing.

00:03:10.000 56% of Americans say they can't name a single thing they like about what Biden has done.

00:03:15.000 Nearly 6 in 10.

00:03:16.000 That is an astonishingly bad statistic.

00:03:19.000 Americans don't think that his infrastructure plan has done a damn bit of good.

00:03:22.000 They don't think the rescue plans did anything except for just inflating the currency.

00:03:27.000 Again, that is a bad, bad number.

00:03:30.000 15% say the President has helped with the economy.

00:03:32.000 Only 6% say that he's helped with COVID.

00:03:35.000 Okay, these are bad numbers for the President of the United States.

00:03:38.000 And they should be bad numbers for the President of the United States because, frankly, he's a very bad President.

00:03:43.000 The only time that the country seems to succeed is when he fails.

00:03:46.000 And when he succeeds in doing what he wants, say pulling out from Afghanistan, a giant failure ensues.

00:03:51.000 When he succeeds in blowing out the spending, as he did with the American Rescue Plan, you instead get inflation.

00:03:56.000 When he fails, like with Build Back Better, then you get more employment.

00:03:59.000 When he fails, say with regard to his lockdown measures with regard to COVID, and his panic-stricken nonsense with regard to COVID masking and mask testing and all the rest of it, when he fails, then America tends to succeed.

00:04:12.000 According to the Wall Street Journal, a relentless surge in U.S.

00:04:14.000 inflation reached another four-decade high last month, accelerating to a 7.5 percent annual rate as strong consumer demand collided with pandemic-related supply disruptions.

00:04:23.000 The Labor Department on Thursday said the Consumer Price Index, which measures what consumers pay for goods and services in January, reached its highest level since February 1982 when compared with the same month a year ago.

00:04:35.000 That put inflation above December's 7% annual rate, well above the 1.8% annual rate for inflation in 2019 ahead of the pandemic.

00:04:43.000 The so-called Core Price Index, which excludes food and energy, still climbed 6% in January from a year earlier.

00:04:48.000 That was a sharper rise than December's 5.5% increase.

00:04:51.000 It was the highest rate in nearly 40 years.

00:04:54.000 And that means prices were up for pretty much everything.

00:04:56.000 Food, vehicles, shelter, electricity.

00:04:58.000 Massive uptick in housing rental prices, which is contributing to a sort of inflationary spiral when it comes to real estate prices.

00:05:06.000 According to the Wall Street Journal, high inflation is the dark side of the unusually strong economy that has been powered in part by governmental stimulus to counter the pandemic's impact.

00:05:14.000 But the truth is that we didn't need any of that stuff.

00:05:16.000 All you had to do was leave the economy alone in the first place, but then after you put it into an artificial coma and compensated people for that, at that point, you could have left things alone, but they can never just leave good enough alone.

00:05:26.000 Instead, we need to build back better.

00:05:28.000 Instead, it wasn't good enough to go back to the economy we had before this, you know, with actual rising wages for pretty much everybody and a 3.8% unemployment rate.

00:05:35.000 No, we needed to make the economy different structurally, according to Joe Biden.

00:05:39.000 For most Americans, that is not what he was hired to do.

00:05:42.000 Kathy Bostjanczyk, the Chief U.S. 0.94

00:05:44.000 Financial Economist at Oxford Economics, said what started as pandemic-specific inflation has now broadened out across many, many categories, both on the goods side of the economy and on the services side.

00:05:54.000 She said it reflects supply constraints both in goods markets and labor, but it is also a function of still strong demand, particularly from United States consumers.

00:06:02.000 Over at FiveThirtyEight, David Inflation.

00:06:08.000 This, of course, has led to a lot of finger-pointing as to who or what is to blame for the price increases we are seeing.

00:06:19.000 Democrats have blamed supply chain deficiencies because of COVID.

00:06:22.000 They've blamed large corporations and monopolies.

00:06:24.000 Republicans, meanwhile, have claimed that President Biden's legislative agenda are to blame.

00:06:28.000 Most Americans do blame Biden.

00:06:31.000 Inflation is not just a supply chain issue, and the stimulus likely made it worse, concludes FiveThirtyEight.

00:06:36.000 FiveThirtyEight is not a right-wing site.

00:06:37.000 This is Nate Silver's data site.

00:06:39.000 One of the Democrats' most consistent talking points has been that the COVID-19-afflicted supply chain is to blame for our current levels of inflation.

00:06:46.000 Biden has even gone so far as to say that supply chain issues have everything to do with it, while House Democrats work to craft legislation targeted at ameliorating supply chain issues.

00:06:54.000 Many economists say the foundering supply chain has played a heavy hand in driving up prices.

00:06:58.000 But at the same time, this democratic talking point has its limits.

00:07:02.000 Because it is clear to many economists that American inflation is not just a supply chain issue.

00:07:06.000 Our economic response, namely the trillions of dollars of COVID-19 stimulus paid out over the last 24 months, appears to be a meaningful differentiator.

00:07:14.000 A good way to tease this out is to look at Europe, which has faced similar supply chain issues and even worse oil shock.

00:07:19.000 And yet European countries have experienced lower inflation, perhaps due in part to the fact they didn't blow out their spending in the same way that the United States did.

00:07:27.000 Jason Furman, Professor of Economics at Harvard, Chair of the Council of Economic Advisors under former President Barack Obama says, Global supply chain problems affect everybody, but the United States has had more inflation than other countries.

00:07:37.000 If you look compared to Europe, in the US goods consumption is higher, services consumption is higher than it is in Europe.

00:07:43.000 In other words, we spent too much money.

00:07:45.000 And when you keep blowing out money for no apparent reason, you end up inflating the currency. 0.95

00:07:49.000 In just one second, we'll get to all of the things that are costing you more thanks to the inflationary spiral created by Joe Biden and his garbage policy.

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00:09:17.000 The Wall Street Journal has a good rundown today on the run-up in prices.

00:09:22.000 They say inflation is broadening out, affecting goods and services that had until now been relatively spared by rising prices.

00:09:29.000 Higher prices will likely push down consumer confidence, although according to Gus Foucher, chief economist at PNC Financial Services Group, he said he doesn't expect it'll have much of an effect on consumer spending, which rose in inflation adjusted 7.9% in 2021 from the previous year.

00:09:45.000 Groceries rose a seasonally adjusted 1% in January from December.

00:09:48.000 That is well above the overall inflation.

00:09:50.000 Cereal and bakery products were up 1.8%.

00:09:53.000 Meats, poultry, fish and eggs rose 0.3%.

00:09:55.000 Meat prices stand 12.2% above where they were one year ago.

00:10:01.000 Electricity has jumped over 4% from where it was a year ago.

00:10:06.000 In terms of housing, massive increase in housing prices.

00:10:09.000 Rents continue to rise.

00:10:12.000 In terms of healthcare, medical care services continue to rise.

00:10:15.000 Vehicle inflation continued to rise.

00:10:18.000 So you're just making less money.

00:10:19.000 You're making less money, like $235, something like $230, $240 a month less money on average for the average American household.

00:10:27.000 For Joe Biden's part, he's just befuddled.

00:10:29.000 He has no idea why the prices continue moving this way.

00:10:32.000 He says that he is puzzled at all of this.

00:10:34.000 Inflation is up.

00:10:37.000 It's up.

00:10:38.000 And coming from a family when the price of gas went up, you felt it in the household.

00:10:43.000 You knew it was like it matters.

00:10:46.000 But the fact is that if we are able to do the things I'm talking about here, it'll bring down the cost for average families.

00:10:55.000 Bring down the cost for average families.

00:10:56.000 I don't know why they keep moving all that, but the fact is they keep down the cost for average families.

00:11:02.000 And look, the fact is that we're in a situation now where You know, you should have peace of mind.

00:11:10.000 You should feel good, guys.

00:11:11.000 You should have peace of mind.

00:11:12.000 Don't worry about inflation.

00:11:13.000 Sure, it's at a 40-year high, but there's nothing to worry about.

00:11:15.000 I mean, for goodness sake, if it's all about supply chain issues, we have the greatest supply chain guy on the planet, Pete Buttigieg, in charge.

00:11:22.000 As the Secretary of Transportation, that guy will get those supply chain issues ironed right out as soon as he's back from paternity leave and not spending his days on CNN yelling about the Florida bill that prevents indoctrination on sexual orientation to kindergartners.

00:11:35.000 This is literally how Pete Buttigieg spends his days now.

00:11:37.000 He goes on national TV and he talks about why you need to teach kindergartners about two moms and two dads in the same way that you would about a mom and a dad.

00:11:44.000 Very important, according to the Secretary of Transportation, whose sole qualification for the job was not filling potholes in South Bend, Indiana, and also being gay.

00:11:51.000 Those are his chief qualifications for being Secretary of Transportation, since, of course, airports and trains are very romantic places, as he knows from his relationship with his husband.

00:12:00.000 This is very important stuff.

00:12:02.000 So the supply chain stuff, don't worry about that.

00:12:03.000 We'll get that ironed right out.

00:12:05.000 Sure, we've still got the White House pushing well past their sell-by date pandemic restrictions.

00:12:11.000 Sure, they're still being utterly unrealistic about the pandemic.

00:12:14.000 But you know, that's not really on them.

00:12:16.000 Supply chain issues?

00:12:17.000 I mean, we have a great Secretary of Transportation.

00:12:19.000 And inflation?

00:12:20.000 I mean, what if we just spent some more money?

00:12:21.000 What if we did that?

00:12:22.000 I mean, Joe Biden literally is still pushing build back better, despite the inflation.

00:12:26.000 Here was the nearly somnambulant president yesterday.

00:12:30.000 This does not raise anyone's, if you're making less than $400,000, you're not paying a single penny more in taxes.

00:12:38.000 Not a single penny more in taxes.

00:12:40.000 And it does not increase the deficit because it's paid for.

00:12:44.000 It's fully paid for.

00:12:46.000 It's fully paid for?

00:12:46.000 Don't worry about it.

00:12:47.000 Of course, when he says fully paid for, he means he's going to have to raise taxes in order to pay for Build Back Better.

00:12:52.000 Or alternatively, borrow an enormous amount of money.

00:12:54.000 Or both.

00:12:55.000 And the answer really is both.

00:12:57.000 And meanwhile, who exactly is Biden blaming for inflation?

00:13:00.000 He's blaming COVID, of course.

00:13:02.000 I mean, sure, he's been wrong about everything with regard to COVID.

00:13:05.000 Sure, everybody went back to work last month.

00:13:07.000 The labor market increased by half a million jobs.

00:13:09.000 But here is the President of the United States saying, I have nothing to do with this.

00:13:13.000 Also, what if we spent a lot more money and regulated the economy and increased taxes?

00:13:17.000 Genius.

00:13:17.000 By the way, this is how you go from an inflationary spiral into a recession.

00:13:21.000 Just follow his prescription.

00:13:22.000 We'll be in a recession very, very shortly.

00:13:23.000 Here's the President of the United States.

00:13:26.000 I'm going to work like the devil to bring gas prices down, which I'm working to make sure that we keep strengthening the supply chain to bring the cost of energy and everything else and the goods that come to America down by helping the ports 24-7, by changing a whole range of things.

00:13:44.000 You know, what's happened with COVID, COVID has caused significant increase in prices in the supply chain.

00:13:51.000 Because when a factory shuts down in another part of the world and you need that particular product, In order to finish and build whatever you're working on, the price goes up exponentially, like for cars.

00:14:02.000 Weird, however, though Europe is not experiencing the same sort of inflation.

00:14:06.000 Joe Manchin yesterday, he was asked again in the media, who are basically the propaganda wing for the White House.

00:14:11.000 They keep asking Joe Manchin about Build Back Better as Bill Manchin is going to change his mind. 1.00

00:14:15.000 And yesterday, he said, no, I'm not changing my mind, you idiots. 0.99

00:14:18.000 He said, for months, I've been ringing the alarm bell about inflation. 1.00

00:14:21.000 Once again, we are witnessing that the threat of inflation is real.

00:14:24.000 There's not a corner of this nation where hardworking families are able to escape the noticeable impact of this inflation tax.

00:14:29.000 Inflation taxes are draining the hard-earned wages of every American.

00:14:32.000 And it's causing real and severe economic pain that can no longer be ignored.

00:14:36.000 It's beyond time for the Federal Reserve to tackle this issue head-on, and Congress and the administration must proceed with caution before adding more fuel to an economy already on fire.

00:14:45.000 As inflation and our $30 trillion in national debt continue a historic climb, only in Washington, D.C.

00:14:51.000 do people seem to think spending trillions more of taxpayers' money will cure our problems, let alone inflation.

00:14:56.000 Of course, he's right about this.

00:14:58.000 Which leaves the Biden administration with a couple of choices.

00:15:01.000 They still want to spend awfully large amounts of money.

00:15:03.000 They still want to raise taxes.

00:15:05.000 Not for purposes of making the economy better, but for purposes of fairness.

00:15:09.000 The single most telling comment in presidential political history may be Barack Obama, 2008, being asked directly whether raising the capital gains tax, if it actually lowered the revenue to the government by disincentivizing investment, would he still pursue the capital gains tax, even if it meant less revenue to the government?

00:15:24.000 And he said, yes, for purposes of fairness.

00:15:26.000 This is how Democrats think.

00:15:28.000 They would rather have everybody equal in misery than inequality with prosperity.

00:15:34.000 It's a principle with them.

00:15:36.000 And so Joe Manchin is like, let's cut out this inflation, no more spending.

00:15:39.000 But the Biden administration isn't going to do that.

00:15:42.000 If they had their way, they would continue to blow out the spending.

00:15:44.000 They're certainly going to increase the regulations.

00:15:45.000 They would certainly allow the tax cuts to expire.

00:15:48.000 Meanwhile, Joe Biden's top economic advisor, Jared Bernstein, he says, don't worry, the inflation is going to drop.

00:15:54.000 I expect inflation to come down significantly in 2022.

00:15:59.000 Now, more to the point, that's not just my expectation.

00:16:03.000 That's the expectation of every forecast I've looked at, and it's very important.

00:16:07.000 Basically, what the forecasts tell you is that the job market should stay tight and get even tighter, supporting wage growth while inflation decelerates, while it slows.

00:16:17.000 So virtually every forecast has inflation growing about half as fast this year as it did last year.

00:16:25.000 This leaves them with two choices.

00:16:26.000 If the Federal Reserve decides to raise the interest rates, as they apparently are going to do, there's a very good possibility that we tip into a recession because of that.

00:16:35.000 Or, even if we don't tip into a recession, it slows the economy just enough, and then you've got Joe Biden piling regulations on top of that.

00:16:41.000 And then we've got interest debts that are going to come due on the national debt over time, and we're going to have to raise taxes in order to pay for it, that sort of stuff.

00:16:48.000 Or cut back on many of the social welfare measures that we have.

00:16:52.000 All of those factors together mean economic stagnation.

00:16:54.000 By the way, Joe Biden knew this.

00:16:55.000 Okay, Joe Biden, his own economic office last year put out stats on Build Back Better showing that over the course of the decade, we were going to be growing, the economy was going to be growing at less than 2% year on year, basically every year for the rest of the decade, which is a bad, bad number.

00:17:11.000 And again, right now, we've got problems with the national debt that are going to start materializing pretty quickly.

00:17:16.000 Remember, we blew out the national debt to the tune of $7 trillion over the course of the last two years alone.

00:17:21.000 All right, coming up, we're going to talk about this New York Times article that runs down the actual problems with our national debt.

00:17:26.000 These are likely to materialize in the mid to long term here.

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00:18:44.000 According to the New York Times just a couple of weeks ago, the Fed has been keeping long-term interest rates low by buying government-backed debt and holding those securities on its balance sheet.

00:18:52.000 Those purchases are set to wrap up in March.

00:18:55.000 Last week, the Fed signaled a plan to significantly shrink its bond holdings.

00:18:58.000 Esther George, president of the Federal Reserve Bank of Kansas City, suggested during a speech this week that the Fed's big bond holdings might be lowering longer-term interest rates by as much as 1.5 percent, nearly cutting the interest rate on 10-year government debt in half.

00:19:11.000 While shrinking the balance sheet risks roiling markets, she warned if the Fed remained a big presence in the Treasury market, it could distort financial conditions and imperil the central bank's prized independence from elected government as those rates rise, right?

00:19:21.000 As the Federal Reserve begins to get rid of all of the assets that it has been holding.

00:19:25.000 Because, again, it wants to cut down on the amount of money in circulation.

00:19:30.000 As those rates rise, so does the amount the United States owes to investors who buy its debt.

00:19:34.000 The Congressional Budget Office estimates that if interest rates rise in line with their own forecast, net interest costs will reach 8.6% of total GDP in 2051.

00:19:45.000 8.6% of the total GDP.

00:19:47.000 That is a lot of money.

00:19:48.000 That's about $60 trillion in total interest payments over the next three decades.

00:19:54.000 The CBO said, in its long-term budget outlook, a larger amount of debt makes the United States' fiscal position more vulnerable to an increase in interest rates.

00:20:01.000 So basically, we've been playing this game over at the Federal Reserve, where the Federal Reserve buys bonds, long-term bonds, in order to inject money into the economy.

00:20:12.000 And then, by doing so, by creating this inflationary spiral, when they decide to cut back on that, they are going to sell those bonds back out there.

00:20:20.000 In order to sell those bonds back out there, they're going to have to raise the interest rates on that long-term debt.

00:20:26.000 And when that happens, they got a problem because now the United States has to pay all of that back.

00:20:31.000 Axios today is pointing out that the Biden administration now has to face down the possibility of a very real recession.

00:20:40.000 Want to bring down inflation?

00:20:43.000 The great dilemma is this.

00:20:44.000 The only real options are to be patient or to cause a recession.

00:20:48.000 It's a pick-your-poison environment for the Biden administration and the Federal Reserve, who face public discontent over economic conditions.

00:20:54.000 And the risk that discontent would only get worse if the alternative was a new recession.

00:20:58.000 The inflationary pressures from strained supply chains and labor shortages look likely to persist all the way through 2022, maybe beyond.

00:21:04.000 But the measures that would be needed to bring inflation down more rapidly would risk sending the economy into a tailspin.

00:21:10.000 According to this columnist for Axios, in the decades after World War II, episodes of inflation have ended when the Fed took steps to tighten the money supply causing recessions.

00:21:18.000 In other words, companies cannot hike prices and workers can't demand higher pay if the economy is contracting and more people are out of work.

00:21:24.000 In the most extreme example, Fed Chair Paul Volcker engineered a steep downturn in the early 1980s that ended the double-digit inflation of that era, but at the cost of double-digit unemployment that pummeled President Reagan's popularity.

00:21:35.000 This time the goal is a soft landing.

00:21:37.000 The Fed is looking to move toward higher interest rates gradually without a shock.

00:21:41.000 The Biden administration is decidedly not talking about spending cuts or tax increases that might act as fiscal anti-stimulus.

00:21:48.000 Yes, but high inflation is hammering Biden's approval ratings and it could cost Democrats big in the November midterm elections.

00:21:55.000 So inflation is bad for Biden.

00:21:57.000 Recession is way worse for Biden.

00:22:00.000 And they've got another problem on the horizon.

00:22:03.000 The Trump tax cuts are set to expire sometime in the near future.

00:22:08.000 The Tax Cuts and Jobs Act of 2017 is set to expire in 2025 and starting in 2021 will increase over time.

00:22:19.000 Okay, that's a problem for them.

00:22:22.000 As the tax is naturally increasing, you're not going to get Democrats, of course, to vote for renewal of the Trump tax cuts.

00:22:27.000 As those taxes increase, we now have a series of disincentives for investment.

00:22:32.000 People paying higher taxes on their income.

00:22:35.000 Joe Biden pursuing higher regulations and unionization.

00:22:39.000 The Washington Post has an entire piece today talking about how the White House is releasing detailed blueprints for how the federal government can work to increase union participation and strengthen workers' rights to organize in the absence of legislative action.

00:22:53.000 So they want to artificially increase the price of labor and shortages in the labor market.

00:22:59.000 At the same time, they want to let the Trump tax cuts expire.

00:23:01.000 At the same time, they want to spend an enormous amount of money.

00:23:03.000 At the same time, they want more regulations.

00:23:05.000 And then also, they have a major inflationary spiral that's going to require the Federal Reserve to raise interest rates.

00:23:10.000 This is what we call a recipe for stagnation.

00:23:13.000 This is a recipe for stagnation.

00:23:15.000 The short-term threat to the United States economy is inflation because we overheated it.

00:23:18.000 And when I say we, I really mean we.

00:23:21.000 The Trump team inflated the economy in 2021, in 2020 rather, for at least some understandable purpose because we had artificially shut down the economy.

00:23:30.000 And then Joe Biden came in and just did it way, way more.

00:23:33.000 And now they're going to pay the price.

00:23:35.000 But the mid-to-long-term threat here is not inflation.

00:23:38.000 The mid-to-long-term threat here is going to be economic stagnation, over-regulation, taxation, interest payments on the national debt.

00:23:45.000 All that stuff is now inevitable if Democrats get what they want.

00:23:49.000 Alrighty, in just one second, we'll get into what the Federal Reserve is actually going to do to try to fix all this.

00:23:54.000 The answer is pain!

00:23:55.000 We'll get to that in just one second.

00:23:57.000 First, you know, one of the things that everybody laments is that everything that tastes good is also highly caloric.

00:24:03.000 Every time you have a salad, if you put salad dressing on that salad, suddenly the salad goes from being very healthy because it's tasteless to being very unhealthy because now it's very tasteful.

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00:25:16.000 According to CNN, red-hot inflation is raising pressure on the Federal Reserve to take drastic action to get control of prices.

00:25:22.000 James Bullard, the president of the St.

00:25:23.000 Louis Federal Reserve Bank, told Bloomberg News Thursday he has become dramatically more hawkish and now supports raising interest rates by a full percentage point by July 1.

00:25:33.000 Given that there were only three Fed meetings before then, that implies the Fed would have to raise interest rates by half a percentage point in a single meeting instead of the more typical quarter percentage point moves.

00:25:42.000 The Fed hasn't executed a half-point rate hike since 2000.

00:25:46.000 Investors are now pricing in a 99% chance that the Fed raises interest rates by 50 basis points in March, according to the CME Group's FedWatch tool.

00:25:54.000 That's up from just 24% on Wednesday.

00:25:56.000 In fact, markets are now pricing in a very tiny chance of a three quarters of a percentage point hike in March.

00:26:02.000 Now, I highly doubt the Federal Reserve is going to shock the markets that way, but a 50 basis point rate hike means less investment.

00:26:10.000 Which is why the Dow Jones fell 425 points, 1.2% last week, right?

00:26:17.000 As we see people pricing in, the possibility of an actual recession, like, I honestly did not think it was possible for them to screw it up this badly.

00:26:24.000 I did not.

00:26:24.000 If you go back and you listen to my podcast right around the time of the inauguration, I said that Joe Biden was going to be blessed with a naturally recovering economy.

00:26:34.000 And all he had to do is get out of the way.

00:26:36.000 That Joe Biden had been blessed with Middle East peace.

00:26:37.000 All he had to do is get out of the way.

00:26:39.000 That things were pretty stable in Afghanistan.

00:26:40.000 All he had to do is get out of the way.

00:26:42.000 And he has managed to screw up everything.

00:26:45.000 All the things he's managed to screw up.

00:26:46.000 As Barack Obama once said of Joe Biden, never underestimate Joe Biden's ability to F things up.

00:26:50.000 Because that dude is incredible at F-ing things up.

00:26:54.000 Speaking of which, you know, when we talk about supply chain crises and the continuing supply chain crisis, you have to understand that the United States has taken a real outlier position throughout the last year on COVID pandemic restrictions, at least the federal government has.

00:27:08.000 Most countries in Europe, for example, never really shut down their schools.

00:27:13.000 Many of them never mask the kids at all.

00:27:15.000 Many of them started going back to normal months ago.

00:27:18.000 It's the Biden administration that continues to maintain that we need COVID restrictions and universal masking and masking of children and all the rest of this sort of stuff.

00:27:26.000 And this has resulted in other countries imitating us or trying to get the lead on us, including Justin Trudeau, who is 100% not.

00:27:34.000 Stop it.

00:27:34.000 He's not Fidel Castro's kid.

00:27:36.000 Stop that right now.

00:27:38.000 Justin Trudeau, up in Canada, has been continuing to implement VAX mandates that affect these truckers.

00:27:43.000 And so now we have a supply chain issue from the North.

00:27:47.000 Because, of course, we have truckers who have been blockading certain bridges into the United States.

00:27:52.000 The Ambassador Bridge, particularly connecting Windsor, Ontario to Detroit, disrupting the flow of auto parts and other products between the two countries.

00:27:59.000 All of this could just be solved if Justin Trudeau cut it out.

00:28:02.000 But he's not going to cut it out, and so this is going to continue.

00:28:05.000 Which, of course, has necessitated the White House now whining about it.

00:28:08.000 The Biden administration urged Prime Minister Justin Trudeau's government Thursday to use federal power to end the truck blockade by Canadians protesting the country's COVID-19 restrictions, according to the Associated Press.

00:28:17.000 So just to get this straight, according to the Biden administration and Democrats generally, very good to block traffic, to protest supposedly racist policing, very bad to block traffic if you are a trucker whose job is dependent on actually being able to drive across that border.

00:28:31.000 You know who wants that bridge open more than anybody else?

00:28:33.000 The truckers.

00:28:35.000 They're the people who want the bridge.

00:28:37.000 They want to be able to drive across that bridge.

00:28:39.000 It is the United States and Canada who have determined that many of them cannot drive across that bridge.

00:28:44.000 For the fourth straight day, scores of truckers taking part in what they dubbed the Freedom Convoy blocked the Ambassador Bridge connecting Windsor to Detroit, disrupting the flow of auto parts and other products between the two countries.

00:28:53.000 The White House said Homeland Security Secretary Alejandro Mayorkas and Transportation Secretary Pete Buttigieg spoke with the Canadian counterparts and urged them to help resolve the stand-up.

00:29:01.000 Well, now that Buttigieg has gotten involved, I think that we're done here.

00:29:03.000 I mean, that guy is so competent at his job that he went missing for two complete months for paternity leave to heal his nothing.

00:29:09.000 And no one noticed.

00:29:11.000 Federal Public Safety Minister, Marco Mendocino, said Royal Canadian Mounted Police reinforcements are being sent to Windsor, Ottawa, and Cootes, Alberta, where another border blockade is happening.

00:29:19.000 So Dudley Doodwright is on his way.

00:29:22.000 Trudeau met virtually with leaders of Canada's opposition late Thursday and said he spoke with Windsor's mayor.

00:29:26.000 Trudeau's office said there's a willingness to respond with whatever it takes to end the blockades.

00:29:29.000 By whatever it takes, they mean everything except for the rational policy of leaving the truckers the hell alone.

00:29:34.000 Because even if they have COVID, they're alone in the actual cab of the truck.

00:29:39.000 For thousands of miles.

00:29:41.000 Conservative Ontario Premier Doug Ford moved to cut off funding for the protest by successfully asking a court to freeze millions of dollars in donations to the convoy through crowdfunding site Give Send Go.

00:29:51.000 Ford has called the protest an occupation.

00:29:53.000 It's amazing how the left is perfectly willing to allow billions of dollars to flow to corrupt organizations like Black Lives Matter.

00:30:00.000 Perfectly willing to allow the Vice President of the United States to fundraise for bailing people out of jail who are involved in riots.

00:30:06.000 But when it comes to the Freedom Convoy, different story.

00:30:08.000 So just to get this straight, according to the left, giving money to people who are protesting Vax mandates, very bad, verboten.

00:30:15.000 Giving money to people who proclaim that the police are racist and that we should defund the police and a cadre of whom burn down cities, good.

00:30:24.000 Makes perfect sense.

00:30:26.000 In the United States, authorities are bracing for the possibility of similar truck-borne protests inspired by the Canadians.

00:30:31.000 Authorities in Paris and Belgium are banning road blockades to head off disruptions there as well.

00:30:36.000 The Department of Homeland Security said in a bulletin to local and state law enforcement agencies it has received reports truckers are planning to potentially block roads in major metro cities in a protest against VAX mandates and other issues.

00:30:46.000 The agency said the convoy could begin in Southern California as early as this weekend, possibly disrupting traffic around the Super Bowl and reach Washington in March in time for the State of the Union Address, according to a copy of Tuesday's bulletin obtained by the Associated Press.

00:30:58.000 Now, what's amazing about this is all of this is just rooted in the stubbornness of our garbage public officials.

00:31:03.000 Because this is over. 0.98

00:31:05.000 Okay?

00:31:05.000 All across the country in the United States, blue state governors are relieving mandates.

00:31:09.000 They're relieving mask mandates.

00:31:11.000 And vax mandates have achieved precisely the opposite of what they were intended to achieve.

00:31:16.000 People who are the most likely to avoid the vaccine mandates are also the people who are blocking off the roads right now.

00:31:22.000 Because those people were willing to lose their jobs over it.

00:31:25.000 You think they are not willing to get arrested over it?

00:31:29.000 It's creating real problems for the auto supply chain.

00:31:33.000 Honda, for example, is temporarily stopping production on one assembly line during the day shift Friday at its plant in Alliston, Ontario.

00:31:40.000 And it is fun to watch as people on the left suddenly discover that breaking of the law in peaceful protest is bad.

00:31:49.000 That blocking traffic is bad.

00:31:50.000 So for example, Juliette Kayyem, a Harvard professor and CNN analyst, tweeted yesterday, Trust me, I will not run out of ways to make this hurt.

00:31:57.000 Cancel their insurance.

00:31:59.000 Suspend their driver's licenses.

00:32:00.000 Prohibit any future regulatory certification for truckers, etc.

00:32:03.000 Have we learned nothing?

00:32:04.000 These things fester when there are no consequences.

00:32:08.000 Slash the tires! 0.99

00:32:10.000 Empty gas tanks!

00:32:11.000 Arrest the drivers and move the trucks! 0.70

00:32:13.000 So good luck slashing the tires on trucks that weigh as much as these trucks do.

00:32:18.000 Also, emptying their, like, how does she think this is going to go?

00:32:22.000 Also, if you slash their tires and empty the gas tanks and arrest the drivers, how do you intend on moving the trucks, Juliet?

00:32:28.000 CNN, just doing an amazing, amazing job over there.

00:32:32.000 Meanwhile, CNN is, I mean, they are fully panicked over this, over on CNN.

00:32:36.000 And at no point do they say, well, maybe it's because we're getting the COVID restrictions wrong.

00:32:38.000 Maybe we should rethink this. 0.94

00:32:40.000 Nope, they're just gonna panic and talk about how the truckers are evil right-wing white supremacists. 0.65

00:32:45.000 The longer they stay, the more they do inspire others across the globe.

00:32:48.000 We know that there have been similar demonstrations in New Zealand and across Europe, tapping into the anti-vaccine sentiment, pandemic fatigue, and also inciting this civil disobedience.

00:33:01.000 And now the U.S.

00:33:02.000 Department of Homeland Security says trucker convoys like these could soon disrupt the Super Bowl in the United States and, of course, the State of the Union and other big events.

00:33:11.000 Oh no, disrupting the State of the Union.

00:33:13.000 Oh no, I would be so sad.

00:33:15.000 I hate the State of the Union.

00:33:17.000 By the way, the Homeland Security Chief Alejandro Mayorkas issued a National Terrorism Advisory just two days ago, saying that key factors contributing to the current heightened threat environment include, quote, the proliferation of false or misleading narratives, which so discord or undermine public trust in U.S.

00:33:31.000 government institutions, particularly with regard to misleading narratives regarding COVID-19.

00:33:37.000 So we have to crack down on quote-unquote misinformation so people don't get mad over the fact that we have done a horrifying job with regard to COVID-19 in terms of our public health establishment.

00:33:48.000 You know, by the way, you know who's saying that we lost our actual trust in public health establishments?

00:33:53.000 Michael Osterholm, who used to advise Joe Biden.

00:33:54.000 Here was Michael Osterholm yesterday saying, oh yeah, the public health establishment completely blew it.

00:33:58.000 We have two pandemics going on right now in this country.

00:34:01.000 One's caused by COVID, and it surely is taking a heavy toll on us.

00:34:06.000 The second one is a pandemic, a loss of trust in government, in public health, and in some cases, the media.

00:34:12.000 And in all cases where we lose the trust of the people, to try to get them to comply with recommendations to help save their life and the life of their loved ones becomes very challenging when they don't believe you.

00:34:24.000 Yes, well, I mean, maybe they don't believe you because you were lying to them nearly the entire time.

00:34:27.000 Here's the thing.

00:34:28.000 The left can never let go of this.

00:34:30.000 So, for example, in New York, where they've already relieved the mask mandates.

00:34:34.000 They're getting rid of the mask mandates, particularly for adults.

00:34:37.000 According to the New York Times, hundreds of municipal workers marched across the Brooklyn Bridge this week, chanting in unison for New York City to end its vax mandate, carrying signs that said, fire Fauci and unvaccinated lives matter.

00:34:46.000 Their pleas were then rejected by Mayor Eric Adams, who has reaffirmed the city's looming ultimatum.

00:34:51.000 If city workers do not get vaccinated, they are the ones who will be fired.

00:34:54.000 So just to be straight, the reason that they had these vax mandates in the first place supposedly was to prevent infection.

00:34:59.000 Then it turned out that the vaccines don't actually prevent infection according to the CDC.

00:35:03.000 And so they are going to continue to fire people for no good reason at all.

00:35:07.000 The Adams administration is poised to dismiss up to 3,000 municipal workers on Friday for refusing to get vaccinated against COVID in what could be the nation's most drastic example of a workforce reduction tied to a VAX requirement.

00:35:19.000 Adam said we have to be very clear.

00:35:21.000 People must be vaccinated if they are New York City employees.

00:35:23.000 Everyone understood that.

00:35:24.000 We are not firing.

00:35:25.000 People are quitting.

00:35:26.000 The responsibility is clear.

00:35:27.000 Well, no, actually, if you threaten people that you will fire them if they don't vaccinate and then they don't vaccinate, you're the one who's firing them.

00:35:32.000 So we can pretend that you are not creating a new requirement for their employment.

00:35:36.000 But in fact, you are.

00:35:39.000 In just one second, we'll get to the simple fact that democratic policy is a failure and even Democrats are beginning to recognize it first.

00:35:44.000 According to the latest research, 90% of employers plan to make enhancing the employee experience a top priority in 2022.

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00:36:51.000 Now, here's the thing.

00:36:52.000 All of this is hitting Democrats exactly where they live, which is in the polling data.

00:36:56.000 The reason that Joe Biden is down in the 30s right now is because of this sort of stuff.

00:37:00.000 And so Democrats in various areas are starting to slowly back away, but they can't back away too fast because if they do, people might notice they've been backing away.

00:37:07.000 We'll get to that in just one second.

00:37:09.000 First, if you missed the world premiere of Shut In last night, you missed out.

00:37:13.000 Not only did we get to share a film too gritty and thrilling for Hollywood, we were able to tease our next big film, Terror on the Prairie, a Western starring none other than our great Gina Carano.

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00:37:28.000 For those who tuned in, we seriously hope you enjoyed it as much as we did.

00:37:31.000 And by the way, we had like 100,000 people simultaneously watching this thing.

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00:37:35.000 It is now streaming on our website, but you have to be a member.

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00:37:43.000 Enter code SHUTIN for 30% off your membership today.

00:37:46.000 You're listening to the largest, fastest growing conservative podcast and radio show in the nation.

00:37:50.000 Alrighty, so meanwhile, Democrats are starting to try to shift quietly away from much of their own agenda because of course the consequences of their policies.

00:38:03.000 I've never seen, we are living in a period of acceleration.

00:38:06.000 If the universe used to turn like 78 RPM, we are now turning at, I don't know, 150 RPM, because the simple fact is that the results of democratic policy are materializing, boom, super quickly.

00:38:18.000 So, for example, according to Axios, shoplifting has gotten so bad nationally that chains like Rite Aid are closing hard-hit stores, sending terrified employees home in Ubers, and locking up aisles of seemingly mundane items like deodorant and toothpaste.

00:38:29.000 Retailers are already reeling from the pandemic, supply chain woes, and the labor shortage.

00:38:33.000 Now they're combating systemic looting by organized crime gangs, which are growing more and more aggressive and violent.

00:38:38.000 It's out of control.

00:38:39.000 It's just out of control, said Lisa Lubruno, SVP of Operations and Innovation at the Retail Industry Leaders Association.

00:38:45.000 A lot of the uptick is tied to the ease of reselling stolen goods online, plus the fact that consumers are buying more everyday goods online during COVID.

00:38:52.000 We have seen a 300% increase in retail theft from our stores since the pandemic began, said CVS spokesman Michael DeAngelis.

00:38:58.000 Well, something else happened during the pandemic, you may have noticed.

00:39:01.000 The Black Lives Matter movement that decided that the cops were bad.

00:39:01.000 Yes, that's right.

00:39:04.000 And so now you're starting to see even Democrats in California trying a course correction, according to Politico.

00:39:11.000 They say, perhaps fittingly, in a year when voters are in a throw-them-out kind of mood, it's a recall in San Francisco.

00:39:17.000 For months, a national parental backlash to school closings has dominated headlines and driven speculation about a brewing electoral wave for Republicans.

00:39:24.000 But what's happening in deep blue San Francisco complicates that picture.

00:39:27.000 Here, a liberal school board is colliding with a group of angry, just-as-liberal parents who have mounted a recall campaign against them.

00:39:33.000 The city's Democratic mayor and big media organs have endorsed the recall effort.

00:39:37.000 So has State Senator Scott Weiner, who is eyeing Speaker Nancy Pelosi's congressional seat when she retires.

00:39:42.000 What's happening in San Francisco is the clearest sign of how Democrats are recalibrating by backing away from the party's 2020 swing toward progressive activists' views on COVID-19, race, and crime.

00:39:53.000 It's happening throughout the Golden State.

00:39:54.000 Governor Gavin Newsom is lifting mask mandates.

00:39:56.000 Representative Karen Bass, who's running for mayor of L.A., called this week for a surge of funding for L.A.' 's police.

00:40:02.000 A surge in funding.

00:40:03.000 Like, two years after they cut the police funding.

00:40:06.000 Over and over, progressive shibboleths are being dispensed with in one of the most reliably democratic places in the country.

00:40:12.000 Because the consequences are obvious. 0.99

00:40:14.000 Democratic policy sucks. 1.00

00:40:15.000 It's really bad. 0.99

00:40:17.000 According to Politico, In San Francisco, it all started when they couldn't figure out why San Francisco's public schools remained closed, while other cities were sending kids back to in-person learning.

00:40:26.000 So they dialed into the city's Board of Education meetings and, like a lot of other parents, were annoyed at what they saw.

00:40:31.000 A massive budget shortfall.

00:40:32.000 An inordinate amount of time and energy spent on a plan to rename 44 school buildings, including those honoring George Washington, Abraham Lincoln, and Dianne Feinstein.

00:40:40.000 Eliminating the merit-based admissions process at Lowell High School and transforming the coveted academic destination to a lottery.

00:40:46.000 A two-hour debate over whether Seth Branzell, a father who appears to be white and gay, brought enough diversity to be allowed to join a volunteer parental advisory committee.

00:40:56.000 And they never reopened the San Francisco schools. 0.98

00:40:59.000 So it turns out that, you know, they suck at this. 0.98

00:41:03.000 And their sucking at this means they have to either recalibrate or lose. 0.99

00:41:08.000 And none of this is being helped, of course, by the fact that the President of the United States is an absolute bag of hot air. 0.97

00:41:15.000 He is inert.

00:41:16.000 He is an inert element.

00:41:19.000 I mean, here is Joe Biden yesterday.

00:41:20.000 So Joe Biden was talking about one of the three, Ukraine, Iraq, or Afghanistan.

00:41:25.000 I can't tell which, can you?

00:41:26.000 Here is Joe Biden being asked by Lester Holt about his policies in Afghanistan.

00:41:32.000 And he goes through a list of countries that are apparently bouncing around in whatever is left of his feeble mind.

00:41:37.000 There was no way we were ever going to unite Ukraine, I mean excuse me, Iraq, Afghanistan. 0.84

00:41:45.000 No way that was going to happen.

00:41:48.000 Which country are we talking about?

00:41:51.000 Ukraine, Iraq, Afghanistan, Maldives, Kenya, Canada, Mexico, Peru.

00:42:04.000 This president, he's totally on top of it.

00:42:07.000 And by the way, when it comes to foreign policy, he's certainly on top of it.

00:42:13.000 We still don't know what exactly is going to happen in Ukraine.

00:42:14.000 I can certainly guarantee you this.

00:42:16.000 If the Department of Defense continues to focus in on top priorities like diversity, equity, and inclusion, we will lose a major war in the very near future.

00:42:23.000 We already lost the Afghanistan war because Joe Biden decided to lose it.

00:42:25.000 But I'm talking about like just outright lose a war.

00:42:28.000 Not because the military, not because the politicians lose it, but because the military loses it.

00:42:32.000 Because we've decided to embed a bunch of leftist progressive activists at the top of the military. 0.59

00:42:36.000 According to defense.gov is a story from the DoD news.

00:42:40.000 Diversity, equity and inclusion are necessities in the U.S.

00:42:43.000 military.

00:42:45.000 This is Bishop Garrison, senior advisor to the Secretary of Defense for Human Capital and Diversity.

00:42:50.000 By the way, why exactly do we have an office for human capital and diversity at the Defense Department?

00:42:56.000 Sounds like a bad make work position at a local junior community college, but it's the Defense Department.

00:43:02.000 Garrison spoke to the Center for a New American Security today about the progress being made by the department and what still needs to happen.

00:43:08.000 Some 41% of the military identify as members of minority groups.

00:43:12.000 That number will grow larger, said Garrison.

00:43:13.000 The military must be able to attract, train, and retain them for the services to retain competitive edges, he said.

00:43:19.000 Fewer Americans between the ages of 18 and 24 qualify for military service.

00:43:22.000 So, he said, we have to find out ways of getting to a broader talent pool and broader interest groups in order to bring those highly qualified, talented individuals in.

00:43:31.000 He noted the percentage of minorities drops as they rise up the ranks. 0.99

00:43:34.000 Their numbers tend to begin to decline in terms of service.

00:43:36.000 They tend to get out.

00:43:37.000 There could be a variety of reasons as to why that actually is.

00:43:39.000 We need to take a very data-driven approach to get a better understanding as to what's actually happening here.

00:43:44.000 What is the problem?

00:43:45.000 How can we address it?

00:43:46.000 And he said, the answer is diversity, equity, and inclusion.

00:43:49.000 Now, of course, diversity, equity, and inclusion is code for left-wing views on race and politics.

00:43:55.000 It's code for affirmative action. 0.88

00:43:56.000 It's code for the basic idea that any statistical disparity is equivalent to discrimination.

00:44:02.000 Now the military is based on a couple of basic principles.

00:44:04.000 One, merit before diversity, and two, the only goal that matters is winning.

00:44:09.000 Those are the basic principles of the United States military.

00:44:12.000 Robert Putnam wrote many years ago in a book called Bowling Alone, that one of the best examples of cohesive groups in the United States was the army.

00:44:19.000 The reason being, everybody was oriented toward a single goal, and all of your individual metrics of diversity were fine, but they were subservient to that individual goal.

00:44:28.000 In that book, what Robert Putnam suggested is that diversity does not actually make groups stronger, per se.

00:44:33.000 Groups are strong when they have a shared goal and a shared set of rules that they abide by.

00:44:38.000 But that's not what the Army is attempting to do now.

00:44:40.000 That's not what the DOD is attempting to do.

00:44:42.000 According to Bishop Garrison, again, a make-work position over at the Defense Department, quote, I would hope that as many leaders and members of the total force as possible see diversity, equity, and inclusion efforts as a force multiplier.

00:44:52.000 I swear, these people speak like they work for McKinsey.

00:44:55.000 I'd just use the word synergy and be done with it.

00:44:58.000 He wants them to see the program as a way to make the U.S.

00:45:00.000 military more successful in achieving critical missions and in making forces more lethal.

00:45:04.000 Yeah, but that's not what you're talking about.

00:45:06.000 Diversity, equity, inclusion does not make forces more lethal.

00:45:09.000 You know what makes forces more lethal?

00:45:11.000 Making them more lethal!

00:45:13.000 He says it's not just something that has to be done because of some type of cultural ideology or culture wars going on.

00:45:18.000 That's not the case at all.

00:45:19.000 Again, it's not diversity for diversity's sake.

00:45:21.000 No, it really, really is.

00:45:23.000 It really is.

00:45:24.000 You want to know why all over the world our enemies are on the move?

00:45:26.000 Because they think we are a paper tiger.

00:45:30.000 Tom Cotton, he says, you know, Putin could attack Kiev at any point and we probably wouldn't do much about it.

00:45:34.000 Here is the senator from Arkansas.

00:45:37.000 My estimate, based on the late troop movements into Belarus, is that Vladimir Putin decided that he wanted to get to the capital sooner rather than later, and that will be the first wave of attack into Ukraine should Vladimir Putin choose to invade.

00:45:51.000 Meanwhile, the State Department under Joe Biden, Wendy Sherman, one of the top officials there, she says, you know, Vladimir Putin has to understand that if he attacks Ukraine, body bags will go back to Russia.

00:45:59.000 I'm pretty sure that Putin knows that.

00:46:01.000 He just doesn't think enough body bags will go back to Russia to dissuade him from doing this.

00:46:04.000 Maybe one of the reasons is because every ad we bring out for the United States military is about why Hannah's two lesbian moms brought up a perfect soldier. 1.00

00:46:12.000 Here's Wendy Sherman. 0.92

00:46:14.000 Not only will there be dire consequences to the economy of Russia by what we will do, not just the United States, but this extraordinary alliance that exists with all of Europe and the United States and countries around the world.

00:46:28.000 Not only will that create consequences, but Vladimir Putin should understand that body bags will come back to Moscow as well, that the citizens of Russia will suffer because their economy will be completely devastated.

00:46:41.000 Okay, well, they don't seem all that scared of you, Wendy Sherman or Joe Biden, which is not a surprise.

00:46:46.000 Why would they be scared of an incompetent president whose entire policy is a failure on nearly every front?

00:46:52.000 Alrighty, we'll be back here later today with an additional hour of content.

00:46:54.000 First, don't forget to end your week by tuning into Andrew Klavan's show.

00:46:57.000 Drew shows every Friday night.

00:46:58.000 He's got an exciting evening planned for you.

00:47:00.000 Head on over to dailywire.com at 7 p.m.

00:47:02.000 Eastern, 6 p.m.

00:47:03.000 Central.

00:47:03.000 Tune in.

00:47:03.000 I'm Ben Shapiro.

00:47:04.000 Shapiro, this is the Ben Shapiro show.

00:47:05.000 The Ben Shapiro show is produced by Eliot Felt.

00:47:13.000 Executive producer, Jeremy Boring.

00:47:15.000 Our supervising producer is Mathis Glover.

00:47:17.000 And our production manager is Pavel Lydowsky.

00:47:19.000 Associate producer, Bradford Carrington.

00:47:21.000 Editing is by Adam Sajovic.

00:47:23.000 Audio is mixed by Mike Coromina.

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00:47:29.000 The Ben Shapiro Show is a Daily Wire production.

00:47:31.000 Copyright Daily Wire 2022.

00:47:34.000 Hey everybody, this is Andrew Klavan, host of The Andrew Klavan Show.

00:47:37.000 You know, some people are depressed because the republic is collapsing, the end of days is approaching, and the moon's turned to blood.

00:47:43.000 But on The Andrew Klavan Show, that's where the fun just gets started.

The Ben Shapiro Show - February 11, 2022

The Coming Biden Recession | Ep. 1432

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