Inflation will remain high, as Democrats and the media back the so-called Inflation Reduction Act, Bill Gates brags about how he got the bill across the finish line, and Liz Cheney launches her bid to take down Donald Trump. Today's show is sponsored by ExpressVPN. Do you like your web history being seen and sold to advertisers? No? Get ExpressVPN right now at Expressvpn.me/TheBenShapiroShow and use the promo code: "ExpressVPN" to receive $5 and contribute $5 to The Ben Shapiro Foundation. You can also get 10% off your first month with discount code: ExpressVPN when you enter the discount code "MAILINVPGRAM" at checkout. It's not too late to take action right now. Take the necessary steps to hedge against inflation today. Get your FREE info kit by texting "INFLUENCING" to 989898 right now! You'll get a free info kit on diversifying into gold and silver, tax-free, and you'll be well on your way to a better life! Ben Shapiro's Mailing List! Want to become a Friend of the Ben Shapiro Show? Subscribe to the show? Learn more about our sponsorships and get exclusive ad-free versions of our most listened to episodes? Subscribe, rate and review our newest episodes, and subscribe to our social media platforms! We'll be giving you the best deals on the show, including VIP memberships, best rates, and more! Subscribe and reviews throughout the world! Get exclusive VIP access to our entire weeks, including early bird pricing, early bird offers, and early access to new releases, and VIP packages, and so you can win a chance to compete for VIP access throughout the next batch of VIP access and access to VIP access, and much more. FREE PRICING throughout the entire world, all that means more places to compete to compete against other places to promote the best shows, worldwide, worldwide worldwide, including the best of the best vids, worldwide promotion, worldwide access to the best places to get a greater choice, and a whole place to promote your best shows and more, and all that gets it all that s truly authentic and more of your chance to become that s the best, and I get it all will get a whole deal, including more of that, I mean that s that and more
00:00:34.000Speaking of which, you know, if the Inflation Reduction Act isn't going to reduce inflation, and inflation is going to continue, Maybe you should take some of your money out of the American dollar and put it into a place that has been inflation proof for literally all the time.
00:00:48.000During the 2007 recession, Washington Mutual, Lehman Brothers, Chrysler, multiple blue chip stocks went down to zero overnight. Could that happen again?
00:00:55.000If so, how confident are you your Well, throughout history, gold has always been your best hedge against inflation.
00:01:30.000Birch Gold will send you a free info kit on diversifying into gold.
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00:01:42.000Well, it seems that the Democratic attempt to pass a boondoggle bill filled with a bunch of green garbage and then call it the Inflation Reduction Act and then get a bunch of people to vote for it, that's not going to work so well because as it turns out, it's not actually reducing inflation.
00:01:56.000And it just goes to the point of how stupid our politics is.
00:02:00.000You just take a bag of crap and you label it gold and then you throw it out there.
00:02:04.000And if you're on the left wing, the media will just say, oh, well, it must be gold.
00:02:06.000I mean, it says right on this bag that what's in this bag is gold.
00:03:09.000According to the New York Times, Federal Reserve officials viewed their efforts to tame inflation as beginning to have an effect, according to the minutes of their meeting in July.
00:03:16.000But they also remain committed to further raising interest rates as prices stay too high for comfort.
00:03:20.000Fed policymakers in recent months have become increasingly aggressive in their efforts to curb inflation, which this spring hit a four decade high.
00:03:26.000In June, the central bank raised its benchmark interest rate three quarters of a percentage point, the largest increase since 1994.
00:03:31.000They followed that up with another equally large rate increase last month.
00:03:34.000It is in your certainty the Fed will raise rates again when central bank officials next meet September 20th to 21st.
00:03:42.000Three quarter point increase would be a strong indication that policymakers are determined not to relax their efforts until they see clear evidence that inflation has slowed.
00:03:51.000A half-point increase would suggest the Fed believes it can ease up, if only slightly.
00:03:54.000Further rate hikes are clearly in the cards, says Michael Gapin, chief U.S.
00:03:58.000Another strong jobs report, he said, could lead to another three-quarter point increase.
00:04:02.000If that doesn't happen, a smaller increase is more likely.
00:04:04.000So instead of them attempting to kill inflation outright, they're now going to attempt to balance.
00:04:08.000So if there are job losses, if the economy starts to slow, they're going to still go up on the interest rates, but they're not going to go up as much as they normally would.
00:04:16.000Now, Mohamed El-Erian of Allianz, he suggested that this sort of tapping on the brakes approach from the Federal Reserve is unlikely to succeed.
00:04:25.000The notion that they can magically tailor their rate increases to prevent recession, but also to quash inflation seems pie in the sky, especially after they blew this so badly that we ended up with a four decade high in inflation.
00:04:36.000But apparently that is what the Federal Reserve is now going to try to do.
00:04:38.000They're going to try to tailor their response to the possibility there might be too many jobs lost and so what we're going to do is we're going to gradually raise the interest rates.
00:04:45.000The truth is what you actually need to do is shock the interest rates and then shock the inflation market.
00:04:50.000What you do is you raise the interest rates actually rather dramatically and then what you get is a very quick a quick quash of the economy and then it swings back into normalcy. That's actually what you need to do is what Paul Volcker did. He radically raised the interest rates when he had a serious inflation rate and it took about a year and then things started to get a lot better and they stayed a lot better for approximately 20 years. You could see something like that again if the Federal Reserve had a little bit more intestinal fortitude, but they don't unfortunately.
00:05:17.000And so they're just going to keep tapping on those brakes, hoping to avoid the worst consequences of their own malfeasance over the course of the last several years.
00:05:24.000Minutes from the Fed's July meeting, which were released Wednesday, suggest the decision will depend on economic data released in the coming weeks, including reports on inflation and jobs.
00:05:31.000The minute said, quote, participants concurred that the pace of policy rate increases and the extent of future policy tightening would depend on the implications of incoming information for the economic outlook and risks to that outlook.
00:05:41.000Policymakers continue to express concern about rapid price increases.
00:05:44.000They say, quote, Wait, but I was told by Joe Biden that inflation pressures are subsiding and that everything is all better.
00:05:53.000After all, we passed an Inflation Reduction Act.
00:05:55.000It's called the Inflation Reduction Act, guys.
00:05:57.000It says right in the act that it's an Inflation Reduction Act.
00:06:00.000According to the Federal Reserve, however, they judged inflation, the policymakers, would respond to monetary policy tightening and the associated moderation in economic activity with a delay and would likely stay uncomfortably high for some time.
00:06:11.000So, all that talk about how it's going to go down before the midterms?
00:06:14.000Nope, it's going to be uncomfortably high for some time.
00:06:17.000As a result, Fed officials said they remain committed to moving up to a restrictive stance of policy, meaning raising rates high enough that they meaningfully slow the economy.
00:06:26.000In speeches and interviews after the meeting, Fed officials pushed back against the idea of a Fed pivot in inflation.
00:06:30.000In an interview with the New York Times this month, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said he was surprised by markets interpretation and the policymakers were still a long way from winning their fight against inflation.
00:06:41.000Seth Carpenter, chief economist at Morgan Stanley, said the minutes were pretty two-handed, neither committing to another supersized rate increase nor ruling one out.
00:06:47.000Which again, does not give the markets the quietude they require in order to solidify investment or to tell you to get out of the market.
00:06:54.000And so what you have right now is the market kind of in a holding pattern, trying to read the physiognomies of the members of the Federal Reserve.
00:07:01.000And we're now doing tea leaf reading over at the Federal Reserve.
00:07:04.000We got the tariff cards out and we're supposed to try and Realize what exactly they're going to do with the economy.
00:07:09.000The economy was never supposed to work this way.
00:07:11.000Cadres of experts who control everything that you do.
00:07:22.000But what's scary is that your phone carrier collects data on whatever it is you're doing so they can better understand your interests.
00:07:27.000Which really means they want to market to you, they want to sell things to you, or they just want to monitor you on behalf of the government.
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00:08:19.000According to the Wall Street Journal, Federal Reserve officials agreed at their monetary policy meeting last month they needed to keep raising those interest rates enough to counter inflation.
00:08:28.000That signaled greater caution with the pace of coming increases.
00:08:31.000The first concern, which the Minutes described as significant, is they might need to raise rates more than currently anticipated if price pressures have spread more broadly throughout the economy.
00:08:38.000Which, by the way, they kind of have, because the 0% month-on-month inflation increase that Joe Biden was bragging about was entirely due to the lowering of energy prices.
00:08:47.000The lowering of energy prices is entirely due, in turn, to lack of demand for the energy.
00:08:52.000It's not due to increased supply, it's due to lack of demand.
00:08:55.000And so you're starting to see that in the energy prices, but the rest of the economy's inflation remains like red hot.
00:09:02.000If you have an overall inflation rate that is the same month over month, but the energy prices are way down, what that means is that in other areas of the economy, the inflation rate actually went up over the course of the last month, which is precisely what you see when you look at the stats.
00:09:14.000Officials for the first time acknowledged they might also raise borrowing costs more than needed, causing unwarranted economic weakness because of the delay between when borrowing costs go up and when that is reflected in economic activity.
00:09:24.000The minute said, quote, participants judged that as the stance of monetary policy tightened further, it would likely become appropriate at some point to slow the pace of policy rate increases while assessing the effects of cumulative policy adjustments on economic activity and inflation.
00:09:36.000Again, the stock market continues to kind of hang around.
00:09:39.000It's not clear that anybody kind of knows which way things are going.
00:09:47.000The Dow and S&P 500 rose after the minutes were released.
00:09:49.000They later retreated to the downbeat tone set earlier in the day after pre-market earnings reports from major retailers, including Target.
00:09:55.000So the markets are in a state of turmoil, and shocker, it turns out that that Inflation Reduction Act has done nothing to quell the market worries.
00:10:01.000It has done nothing to actually bring down inflation.
00:10:05.000Because again, the game of politics is slap a name on a bill, the media repeat it if you are a Democrat, and if a Republican Governor, for example, pushes a bill and the media just make up a name for it and they go with that.
00:10:15.000So the Inflation Reduction Act is what the media will continue to call an act that has nothing to do with inflation reduction.
00:10:21.000But the bill in Florida that is meant to prevent the sexual indoctrination of young children will be called until the end of time.
00:10:27.000They don't say gay bill by the media because, again, the media are a Democrat interest group.
00:10:54.000I'm wondering if anybody has any evidence that they'd like to present that this is, in fact, the case.
00:10:59.000The spread on his approval rating remains negative 16 percent, according to RealClearPolitics.
00:11:05.000According to the latest Reuters-Ipsos poll, which came out just a couple of days ago after this bill was passed, His approval rating remains at 38%.
00:11:12.000He has not exceeded 44% in any poll for the last year, maybe?
00:11:29.000Again, the American people, Joe Biden may think it's a priority to expend hundreds of billions of dollars on green nonsense.
00:11:36.000But the rest of the American people don't actually think that way.
00:11:38.000So it's so funny to watch Democrats pat themselves on the back for passing a bill that is not going to meaningfully affect the lives of Americans in any positive way.
00:11:45.000And then say, well, at least we got something.
00:11:47.000Yes, but the thing you got done is not the thing we wanted you to get done.
00:11:50.000Economist Jeffrey Sachs says, listen, everyone knows this doesn't bring down inflation.
00:11:55.000Democrats probably got this bill passed because in part they called it the Inflation Reduction Act.
00:12:00.000Is that just a marketing tool or will it have an impact on prices coming down?
00:12:48.000Even he recognizes that this bill is not bringing down inflation.
00:12:50.000So I'm wondering where is the big political win for Joe Biden in all of this?
00:12:52.000Joe Manchin, who sold himself out in order to do this Inflation Reduction Act because he thinks that if he brings home the bacon for West Virginia in the form of some increased pipeline building in West Virginia, This will overrule the fact that he worked with Joe Biden to expend hundreds of billions of dollars in an inflationary cycle.
00:13:06.000He says, well, we never said it would bring down prices right away.
00:13:09.000It's literally called the Inflation Reduction Act.
00:13:11.000If you pass an act with that name, people don't assume you mean in 30 years.
00:13:15.000They assume you mean right now because inflation is happening right now.
00:13:18.000Here's Joe Manchin trying to justify why he backed this thing.
00:13:22.000It's misleading to call this the Inflation Reduction Act for Americans when it's not going to make their grocery bill cheaper.
00:13:28.000It's not going to make everyday goods cheaper for them.
00:13:33.000We've never seen anything happen immediately.
00:13:35.000Like today, it's turned the switch on and off.
00:13:39.000Oh, well, I mean, when we said inflation reduction, we meant like, you know, eventually, like at some point in the future that I can't name and that I don't actually know.
00:13:49.000Brian Deese, the White House Council of Economic Advisors has, he says, listen, we actually don't know if inflation is going to come down.
00:14:20.000I know a lot of people who look at this bill and say, you know what, it's a climate bill, or it's a tax bill, or it's all sorts of things, but maybe not an inflation reduction bill.
00:14:32.000Or maybe at the margin it's up or down a little bit, but that's not really the purpose.
00:14:38.000Let's talk about in practice what this bill will do.
00:14:41.000It will lower health care premiums for 13 million Americans, starting here in just a couple of months.
00:14:47.000It will make everyday items that people need to upgrade their homes or to commute to work, make them more affordable by providing tax credits and rebates to them.
00:14:57.000It will lower the cost of prescription drug prices to end consumers, but also to the federal government.
00:15:03.000And it will lower the federal deficit.
00:15:05.000Those are the things that this bill will do.
00:15:09.000So it will not lower inflation is what you're saying.
00:15:12.000Brian D is just another expert who doesn't know what he's talking about.
00:15:15.000Well, why would you need an expert who doesn't know what he's talking about like your car right now?
00:15:19.000If it breaks down, you got a problem because cars are super duper expensive.
00:15:22.000So you head on over to that auto parts store and somebody who says he's an expert but actually doesn't know anything about your car then has to order the part online and then upcharge you Or, theoretically, you could go to the place of real expertise, RockAuto.com.
00:15:34.000Chain stores have different price tiers for professional mechanics and do-it-yourselfers.
00:15:37.000RockAuto.com's prices are the same for everybody, and they are reliably low.
00:15:40.000That means they're not going to change prices based on what the market will bear, like many airlines and marketplace sites do.
00:15:45.000Their prices make it affordable for customers to keep their daily drives and classics safely on the road.
00:15:49.000rockauto.com has been in the auto parts business for 20 years.
00:15:52.000Family owned, their goal is to make auto parts available and affordable to keep you safe on the road.
00:15:56.000They not only have the auto parts you need, they'll give you a selection of trusted name brands to choose from.
00:16:00.000You can pick brakes that match just how you use your vehicle for towing, racing, just commuting to work.
00:16:04.000You can get suspension, exhaust, air conditioning, and other kits that provide all the parts you need for a successful repair.
00:16:09.000At rockauto.com catalog, it's remarkably easy to navigate, amazing selection, reliably low prices, all the parts your car is ever going to need.
00:16:46.000Probably we need more of that, which is exactly what this bill does.
00:16:48.000When two bills advanced through Congress in recent weeks, the Biden administration has now grown the federal government's imprint on major sectors of the United States economy, including semiconductors, energy and health, and further buried the idea once widely held in Washington that private markets should be left alone without government involvement, according to the Wall Street Journal.
00:17:03.000The shift grew out of two decades of economic crises, rising national populism, a deepening economic rivalry with China, and concerns about the long-run effects of climate change.
00:17:10.000Adam Smith's invisible hand has been replaced by a muscular arm in which Washington uses tax credits, tax rebates, loans, loan guarantees, regulations, tariffs, spending programs, and other tools to nudge a market-driven economy that has proven far more turbulent and uneven than many people expected it to become even a quarter century ago.
00:17:24.000Now, my favorite line here from the Wall Street Journal is the idea that the government has not become increasingly interventionist over the course of the last 20 years.
00:17:31.000Now, basically, we were free marketeers up until the last five minutes.
00:17:35.000Over the course of my entire life, the government has gotten significantly less free.
00:17:38.000Barack Obama worked very hard to put more regulations in place.
00:17:42.000Donald Trump deregulated, but he also massively increased spending.
00:17:46.000The same thing has happened under Joe Biden, except massive regulation increases, massive tax increases, massive spending increases, all of them.
00:17:53.000So the idea that the market quote-unquote breakdowns that have been happening are the result of the markets, that is not true.
00:17:59.000The subprime mortgage crisis was the result of bad incentivization by the federal government, promoting subprime mortgages to minority homebuyers who could not afford those mortgages.
00:18:07.000And then the private markets responded by cross-collateralizing all of that stuff, chopping it up, turning into credit default swaps, and then infecting the entire economy with the government promise.
00:18:16.000And then when things went south, you ended up with bailouts.
00:18:18.000That was because of government incentivization.
00:18:20.000The same thing is true when it comes to the last economic downturn.
00:18:23.000The last economic downturn was almost entirely created not by COVID itself, but by government response to COVID.
00:18:29.000And now the new economic downturn, the massive inflationary cycle that we are in, that is entirely the result of government pouring trillions of dollars into an economy where most people, particularly young healthy people, should have been back at work within one month of COVID.
00:18:41.000Because young, healthy people were not dying of COVID in mass numbers.
00:18:44.000But the government decided to take a blunderbuss approach to COVID, and thus destroyed the economy, and destroyed the economy not just for the period when we had mandatory shutdowns, but also for the post-shutdown period in which they continued to blow money into the economy.
00:18:57.000So this notion from the Wall Street Journal that only now is the muscular arm of government, no, no, no, you understand.
00:19:01.000That is a gradual process that's been happening Pretty much on pace since the 2000s.
00:19:12.000George W. Bush radically increased spending over the course of his term.
00:19:15.000The last, quote-unquote, fiscally conservative candidate who was president of the United States, shockingly, was Bill Clinton in his second term, after blowing it in his first term.
00:19:23.000According to Douglas Holtz-Eakin, a Republican economist and former director of the CBO, quote, we're going to have bad growth.
00:19:29.000He said the national drift away from unfettered markets has affected both political parties, including his own.
00:19:33.000The case for small government in the 1980s and 90s was advanced in academia by Milton Friedman, taken up by Ronald Reagan and the Republican Party, eventually embraced by many middle-of-the-road Democrats, including Bill Clinton.
00:19:42.000Three economic crises in the past quarter century shook views about leaving markets alone.
00:19:46.000The bursting of the tech bubble in 2000.
00:19:48.000By the way, we got over the 2000 market crash in about six months.
00:19:52.000It was already over by the time George W. Bush took office, basically.
00:19:58.000Which, again, was created by the government in the first place and then exacerbated by more government spending, leading to the slowest economic recovery in American history under Barack Obama.
00:20:08.000The government bailed out airlines, carmakers, banks, and millions of small businesses with loans and emergency funding and increased oversight of banks.
00:20:14.000In the case of COVID, the Trump administration also funded a pharmaceutical industry race to develop new vaccines.
00:20:18.000Yes, but that was like the only market intervention that made any sense, considering the government actually had an interest in ensuring that there was a lot of money available for experimentational vaccines from the vaccine makers like Pfizer.
00:20:34.000According to the Wall Street Journal, however, without those interventions, the crises might have been worse.
00:20:38.000They also placed the government in the foreground of U.S.
00:20:58.000Democrats are embracing the use of tax code to advance their economic agenda.
00:21:01.000The new health and climate law includes $161 billion worth of credits for private sector investment in non-carbon electricity sources like solar and wind.
00:21:08.000$36 billion in credits for electric cars.
00:21:11.000$37 billion in credits for manufacturing plants that run on green energy sources.
00:21:14.000Get ready for Solyndra times one million.
00:21:17.000Those breaks were worth $729.5 billion in 1996, adjusted for inflation, according to the Government Accountability Office.
00:21:24.000Last year, they surpassed $1.4 trillion.
00:21:26.000The number of individual breaks had grown from 121 to 165.
00:21:28.000So basically, you are now subsidizing, through tax breaks, a bunch of green energy boondoggles.
00:21:34.000President Biden's two new signature programs add $351 billion in tax expenditures over the next decade, according to Kent Smithers, director of the Penn Wharton Budget Model, which tracks the impact of budget decisions.
00:21:45.000Jason Furman, former chair of the White House Council of Economic Advisors under Obama, said, quote, The Biden and Trump era is one of a government that wants to play a much bigger role in what is produced, where it is produced, how it is produced, and with what labor it is produced. The regulatory state has grown as well. The federal government wrote 701 economically significant rules from 1981 through 2000, according to George Washington University Regulatory Study Center.
00:22:07.000That increased to 1,170 between 2001 and 2021.
00:22:11.000New rulemaking tumbled in Trump's first year as president, then grew every year and hit an annual record in 2020, according to the center.
00:22:20.000So the government continues to involve itself more deeply in the economy.
00:22:23.000And then, of course, when things fail, then they blame the private sector.
00:22:27.000Now, hilariously, the actual goal of this bill, which is to, quote-unquote, reduce global warming and start us up on green energy, it's not even going to do that, because the government sucks at nearly everything.
00:22:38.000They call it the Inflation Reduction Act, it's not reducing inflation.
00:22:40.000But at least it's a transformative climate bill, right?
00:22:43.000I mean, at least it's going to change the way we approach energy.
00:22:48.000You saw the media shift to that pitch as soon as the Inflation Reduction Act passed.
00:22:50.000They immediately started saying, well, yeah, it won't actually do anything about inflation, but it's going to make sure that we don't have floods in 100 years.
00:22:58.000Well, as it turns out, it's not even going to do anything remotely like that.
00:23:02.000Even the Associated Press is now sort of admitting this.
00:23:05.000Well, they said that it was going to reduce inflation, this Inflation Reduction Act.
00:23:07.000It turns out it doesn't even reduce global warming, even though it's a climate change act.
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00:24:19.000According to the Associated Press, massive incentives for clean energy in the U.S.
00:24:22.000law signed Tuesday by Joe Biden should reduce future global warming, not a lot, but not insignificantly either, according to a climate scientist who led an independent analysis of the package.
00:24:31.000Even with nearly $375 billion in tax credits and other financial enticements for renewable energy in the law, the United States still isn't doing its share to help the world stay within another few tenths of a degree of warming, according to a new analysis by Climate Action Tracker.
00:24:44.000This is the biggest thing to happen to the U.S.
00:24:46.000on climate policy, said Bill Hare, Australia-based director of climate analytics.
00:24:50.000When you think back over the last decades, not wanting to be impolite, there's a lot of talk but not much action.
00:24:55.000Not as much as Europe, and Americans still spew twice as much heat-trapping gas per person as Europeans, Hare said.
00:25:01.000Before the law, Climate Action Tracker calculated that if every other nation made efforts similar to those of the U.S., it would lead to a world with catastrophic warming, 5.4 to 7.2 degrees.
00:25:10.000That's 3 to 4 degrees Celsius above pre-industrial times.
00:25:13.000Now, in the best case scenario, which Hare said is reasonable and likely, U.S.
00:25:16.000actions, if mimicked, would lead to only 3.6 degrees, 2 degrees Celsius of warming.
00:25:21.000If things don't work out quite as optimistically as Hare thinks, it would be 5.4 degrees, 3 degrees Celsius of warming, according to the analysis.
00:25:27.000Even that best case scenario falls short of the overarching, internationally accepted goal of limiting warming to 2.7 degrees warming, 1.5 degrees Celsius since pre-industrial times.
00:25:36.000Also, by the way, that study assumes that all the other nations are going to do what the United States is going to do, which is not going to happen.
00:26:12.000It turns out that when it comes to the world of foreign policy, there are a lot of nations in competition with us for that number one slot.
00:26:17.000They would like to claw away at America's ability to lead the planet.
00:26:21.000Energy policy is a fantastic way to do that.
00:26:23.000Let the West, let Europeans and the United States limit their own economic growth.
00:26:27.000China's going to sit there and just pick up the pieces.
00:27:40.000It's going to change, I kid you not, the impact of global warming from the baseline of 4.8875 degrees Fahrenheit to 4.8595 degrees Fahrenheit.
00:28:22.000So they're not even describing what it's going to be achieved, because if they did, then they would notice that nothing is actually being achieved.
00:28:30.000They just keep saying that it's going to reduce emissions, but they don't explain how exactly that's going to happen.
00:28:33.000So it's not going to reduce global warming.
00:28:43.000Isn't that really the thing that you needed to know?
00:28:46.000So apparently Bill Gates is now out there bragging about how he lobbied to save this climate tax bill that was just signed.
00:28:53.000According to Bloomberg.com, Bill Gates is very excited about how he got this thing passed because you know what we need?
00:29:00.000We need the world's richest people cramming down on the rest of humanity worse living standards so that they can feel really good about themselves by fractionally lowering climate change over the course of the next hundred years so infinitesimally that you can't even measure it.
00:29:37.000And, you know, because I believed it was a unique opportunity, my trying to bridge the communication gap and encourage people to make one more effort.
00:29:48.000Uh, you know, by, because of the relationship we built up over time, you know, we were able to talk even at a time when he felt people weren't listening, you know, and, uh, you know, I wouldn't have wanted to be in his position.
00:30:05.000Well, I mean, so it was Bill Gates calling up Joe Manchin, just showing once again, Joe Manchin really answerable to the people of his state, actually answerable to a Seattle based Multi-billionaire.
00:30:50.000Bill Gates going to Joe Manchin and making policy based on his concerns about climate change over the course of the next hundred years.
00:30:56.000Bill Gates is not going to be the one who has to pay the piper for any of this stuff.
00:30:59.000Bill Gates is busy buying all the farmland in the middle of the country to apparently not grow meat because he doesn't like people eating meat because of global warming or some such.
00:31:28.000We can't afford to miss that bill that is going to marginally lower temperature in the best case scenario.
00:31:33.000He said through new and expanded tax credits and a long term approach, this bill would ensure that critical climate solutions have sustained support to develop into new industries.
00:31:42.000He was pushing incentives that would transform the parts of the economy that are, quote-unquote, hardest to decarbonize, such as manufacturing, a prerequisite for attaining net zero emissions.
00:31:51.000The measures will provide affordable, abundant, clean energy to Americans, the billionaire said.
00:31:55.000Also, it would catalyze a new era of American innovation.
00:32:00.000And of course, he and his corporate buddies have decided that they are basically going to cram this down on everybody up to and including all the stockholders in their companies, right?
00:32:08.000This is why you have the ESG movement, the environmental social governance movement, pushing forward very hard and very fast in favor of decarbonization at the expense of the people who actually Have their stocks in the pension fund, right?
00:32:21.000All those people are going to see their stocks absolutely wrecked by this bad policy.
00:32:25.000You're going to see your gas prices go up.
00:32:27.000You're going to see your business become less efficient.
00:32:29.000And then when there's another economic crash, because we've overspent and overregulated, we're going to be told that it was the free market that failed.
00:32:34.000So obviously what we need is more government interventionism, all because of Bill Gates, right?
00:32:46.000I mean, yeah, not in his personal life, but but he's super duper wonderful.
00:32:49.000And the reason he's really wonderful is because he's really rich.
00:32:51.000One of the most amazing things about the left is that they despise rich people, except when they are treating rich people who mimic left wing slogans as the greatest people who should run the earth.
00:33:04.000Bill Gates was bad when he was making Microsoft.
00:33:06.000He's only good when he is taking the power that he earned through making Microsoft and then he is applying it to left-wing causes.
00:33:13.000At that point, he becomes a wonderful, good, decent human being because the capitalistic system is exploitative.
00:33:19.000But the person who exploited that system the best now gets to use his power to wreck everybody else and pull up the ladder behind him.
00:33:25.000That's the thing that they are looking for the most.
00:33:28.000And the fact that Bill Gates is the driving force behind this thing should give everyone significant pause about what exactly this thing is going to do for normal Americans.
00:33:36.000I don't think Bill Gates has ever met a normal American, at least not for the last several decades.
00:33:40.000Bill Gates has no clue what the price of a gallon of milk is.
00:33:44.000He hasn't gone shopping for himself in probably 40 years.
00:33:48.000And that's what this is all about for Bill Gates.
00:33:52.000With President Biden's signature, this legislation would jumpstart and support clean energy industries that could create millions of jobs, many in communities that have been built by fossil fuels.
00:33:59.000Remember those shovel-ready jobs that Barack Obama was going to create, and then they never materialized?
00:34:04.000In fact, says Bill Gates, many of the most promising technologies in the clean energy economy will require similar skills and expertise possessed by today's coal, oil, and gas workers.
00:34:12.000This will help ensure a fair tra- Oh, so it's not even learned to code anymore.
00:34:17.000You've been working on pipelines in North Dakota?
00:34:20.000Well, get ready to make some solar panels, gang.
00:34:22.000Bill Gates says, quote, The country has an opportunity to set an example by offering a vision of what's possible and then by making it happen.
00:34:38.000Explain how this thing is going to lower, like really, lower the temperature over the course of the next hundred years without reference to, well, you know, global leadership will miasmatically start mirroring all of our favorite policies.
00:34:49.000And then China will be nice and we will have converted them to the green environmentalism that we so desire.
00:34:55.000And millions of jobs will be created out of the rectum of Bill Gates.
00:36:55.000The Democrats seem to say that stopping Donald Trump is their top priority, and then they're doing everything they can possibly do to make him President of the United States again.
00:37:03.000So, for example, they will say things like, well, Ron DeSantis is just as bad as Trump.
00:37:07.000If Trump is a unique threat to the Republic, then you can't just say that Ron DeSantis is the same as Trump, because then he's not a unique threat to the Republic.
00:37:15.000I mean, you did the same thing to Mitt Romney.
00:37:17.000You did the same thing to John McCain.
00:37:18.000You also cannot promote the idea that all Republicans who back Trump are evil, so come over to our side and be our friend.
00:37:24.000That's what James Carville has been doing.
00:37:26.000This is a tactic unlikely to work, which makes me think that it's actually just cynical.
00:37:30.000I mean, Carville is a cynical politics guy, so that would make sense.
00:37:35.000Is the idea here to basically push Republicans to nominate Trump because Democrats think he is the most beatable?
00:37:40.000In other words, are they being insincere?
00:37:42.000Here's James Carville explaining that the Democrats are just silly, but Republicans are fully evil.
00:37:47.000Way to bring down the temperature here, gang.
00:37:49.000What can people who would be Democrats of your ilk, of your worldview, what can they do about those people who you consider idiots, essentially?
00:38:04.000And let me say, when they say, James, we have our crazies, but look, you have your crazies, you know, and it's, you know, what pronoun you have of veganism or something.
00:38:14.000The problem is, is people who believe in that are just silly.
00:38:18.000People that believe that the election was stolen and have a right to storm the Capitol, which is a substantial number of people in the Republican Party, are evil.
00:39:30.000I'm not in favor of defunding the FBI, because I think the FBI is actually a useful institution.
00:39:35.000However, if I were going to be in favor of defunding the FBI, I couldn't be any more in favor of that case than the people who are actually saying that the FBI is a credible institution.
00:39:42.000Those people are making an overt case for why you should defund the FBI, because they're the least credible people on planet Earth.
00:39:49.000It's like if Michael Jackson started up a children's health fund, and then he was like, my children's health fund is so credible, you should give money to it.
00:40:44.000He says, quote, I agree, and I was the CIA director.
00:40:48.000Man, these people are determined to undermine their own credibility.
00:40:53.000And then they wonder why people just dismiss them when they make complaints about Donald Trump?
00:40:57.000Well, probably the best thing they can do is take deeply unpopular figures who side with the left in their attempt to lump all Republicans together with the January 6th rioters and trot them out again.
00:41:07.000And I don't know, honestly, whether to attribute to the Democrats and the media and to people like Liz Cheney stupidity or malice.
00:41:16.000For Liz Cheney, when she says things like, I'm going to leave the charge against Trump, Does she think she's going to be successful?
00:41:23.000Or does she think she's more likely to actually promote Trump?
00:41:26.000Because realistically speaking, that's what's going to happen.
00:41:27.000I mean, this is what all the poll data shows.
00:41:29.000Liz Cheney's approval rating inside the Republican Party is 14% today.
00:41:31.000And she's like, I will lead the charge.
00:41:35.000Okay, are you more likely to drive support for Trump?
00:41:38.000Understand, as I've said before, we live in the most reactionary time I've seen in my political lifetime.
00:41:43.000A time in which if the left says something is bad, the right will immediately say it's good.
00:41:46.000And if the right says something is good, the left will immediately say it's bad.
00:41:49.000If Donald Trump decides that he is going to shower poor children with Christmas gifts, the left decides this is inherently evil and he must be a tool of the Russians.
00:41:59.000And if the left decides that some conservative congressperson or Republican congressperson who is a nutcase is a nutcase, the right immediately goes, this is the most rational person I've ever seen.
00:42:11.000That reactionary nature to American politics, everyone knows that's what's happening.
00:42:15.000And so either people are steering directly into it because they're stupid or they're doing it because they're cynical.
00:42:20.000You know, I always try to attribute to stupidity that which I cannot attribute to malice, but at this point it's so obvious it's hard not to attribute it to malicious intent, at least by people on the Democratic side of the aisle.
00:42:32.000And trotting out Peter Strzok to talk about the integrity of the FBI is not going to drive up support for the FBI.
00:42:39.000Merrick Garland coming out and saying, oh, you should really trust the DOJ and the FBI, that ain't gonna do it.
00:42:44.000And Liz Cheney attacking Donald Trump, that ain't gonna do it either.
00:42:47.000So Liz Cheney is now launching a super PAC called The Great Task.
00:42:50.000I mean, I guess she has to have something to do now that she's no longer in Congress.
00:42:54.000But she wants to, I guess, Stop Trump from being president.
00:43:00.000She's done an amazing job so far of making Trump the likeliest nominee.
00:43:04.000If you had asked me like three months ago, who's the likeliest nominee for president on the Republican side of the aisle?
00:43:09.000The data said Trump, but I thought that he was losing momentum, frankly.
00:43:13.000I thought he was losing momentum because he was distracted with January 6th and he was jabbering about it all the time and it was annoying and we were all concentrating on inflation and foreign policy and China and Afghanistan and Russia and Joe Biden being the worst president of my lifetime.
00:43:24.000We were all focused on that and Donald Trump was like over here yelling about Georgia voting machines or something.
00:43:28.000And so it seemed like he was losing a lot of momentum.
00:43:31.000And then, Liz Cheney, the Democrats, the FBI, the DOJ, they decided to make Donald Trump front and center again.
00:43:39.000And so somehow Liz Cheney thinks doubling down on this is going to stop Donald Trump.
00:43:43.000I gotta say, watching people in the media, in the Democratic Party, try to catch Donald Trump, it's like watching a Roadrunner cartoon.
00:43:49.000It's like Wile E. Coyote getting out his ACME rocket.
00:43:54.000And he's just like, zooming down the road.
00:43:57.000And there is Liz Cheney, Wile E. Coyote, she's like, I will paint a tunnel on this rock and the roadrunner will run directly into the rock.
00:44:06.000And then, of course, Donald Trump's like, meep meep, and he just goes right through the tunnel.
00:44:09.000And Liz Cheney's like, well, if he can go through the tunnel, I can too.
00:44:17.000So Liz Cheney, as Wile E. Coyote, she's over the cliff, but she's in that moment where she hasn't looked down yet.
00:44:23.000There's always that moment in the Roadrunner cartoons where Wile E. Coyote is like hovering over the abyss and then he looks down and... So that's Liz Cheney right now.
00:44:33.000Here she is talking about how she is going to be massively successful stopping that dire, terrible Donald Trump.
00:44:40.000I think we have a tremendous amount of work to do.
00:44:43.000And certainly, I am absolutely going to continue this battle.
00:44:47.000I think it's the most important thing I've ever been involved in.
00:44:50.000And I think it's certainly the most important thing, challenge that our nation has faced in recent history, and maybe since the Civil War.