The Ben Shapiro Show - To Avoid Recession, Just Redefine Recession! | Ep. 1542

00:00:00.000 In anticipation of a second quarter of negative growth, the Biden administration redefines recession.

00:00:04.000 The collapse of New York City continues apace, and we explore two very different stories about racism.

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

00:00:09.000 I'm Ben Shapiro.

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00:01:33.000 Well, the White House is expecting some bad economic news this week.

00:01:36.000 We're expecting the second quarter GDP report.

00:01:39.000 And most people believe that there will be negative GDP growth for the second consecutive quarter, all of which has led the Council of Economic Advisers to literally redefine what a recession has meant for quite a while here.

00:01:50.000 Typically, when you are talking about recession, people mean two consecutive quarters of negative growth.

00:01:54.000 But the reality is that it's always been a little bit tricky.

00:01:58.000 to define what a recession is you know it when you're in it and you don't know it when you're not in it it's kind of it's kind of a pornography as defined by the supreme court thing you know it when you see it you feel like you're in a recession when things are getting more expensive when you're worried about your job when you're concerned about the future of the economy and when the stock market starts to go down but combinations of those factors could lead you to think that you're in a recession also however the sort of technical definition that has been consistently used for years and years is two quarters of negative GDP growth so

00:02:24.000 The Council of Economic Advisors under Joe Biden, fearing that we're about to get a stat that drops this week that says that we are in a recession, and then it becomes Biden's recession, they're simply redefining the term.

00:02:34.000 So now, according to WhiteHouse.gov, what is a recession?

00:02:37.000 While some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle.

00:02:47.000 Oh, weird how that standard changed.

00:02:49.000 Strange.

00:02:50.000 Instead, both official determinations of recessions and economists' assessment of economic activity are based on a holistic look at the data.

00:02:56.000 Based on these data, it is unlikely the decline in GDP in the fourth quarter of this year, even if it is followed by another GDP decline in the second quarter, indicates a recession.

00:03:04.000 So, it's very funny.

00:03:06.000 Here's what they were doing.

00:03:07.000 They had a really bad first quarter.

00:03:09.000 Then the second quarter started and we were told by the Biden administration that if we were worried about being in a recession, the stats weren't available yet to say that we were in a recession because we were still in the second quarter.

00:03:18.000 Now, as we end the second quarter, and it's pretty clear that we are in a recession, they're attempting to redefine away the first quarter.

00:03:24.000 They're now saying, well, you know, before we were worried that the second and the second quarter really wasn't the recession.

00:03:28.000 Well, now that we know the second quarter was recessionary, the first quarter is not recessionary because that was other factors.

00:03:35.000 Amazing how they are just redefining this thing away.

00:03:38.000 And this has become the typical Biden administration line.

00:03:41.000 It is amazing that instead of simply recognizing that the economy is significantly weaker than it should be at this point, that inflation has taken a massive toll on Americans, that Americans are worried about the earnings that are coming out of the companies in which they are invested, that Americans are worried in the future about the stability of the markets.

00:03:58.000 And that Americans are worried rightly about all of these things, instead of just acknowledging that and then saying, here is our plan to quash that.

00:04:05.000 And the plan can't involve more spending, guys.

00:04:06.000 The plan can't just involve throwing money at the wall.

00:04:09.000 Instead of acknowledging that, which would require them to change course, they're going to say it's all in your head. 1.00

00:04:12.000 They're going to be the world's worst psychologists, and they're going to say that it's all because you're crazy. 1.00

00:04:16.000 If you're worried about recession, it's because you're crazy. 0.80

00:04:18.000 And if you point to the objective, verifiable data that we've had two consecutive quarters of negative GDP growth, if that's what ends up being released on Thursday, If you point to that, they say even that is in your head because now we're going to redefine away what a recession means.

00:04:32.000 So Joe Biden yesterday was on Fox News and he was asked, are we in a recession?

00:04:37.000 What's the deal here?

00:04:38.000 And here was President Biden's answer.

00:04:40.000 And Mr. President, we're getting GDP numbers on Thursday.

00:04:43.000 How worried should Americans be that we could be in a recession?

00:04:49.000 We're not going to be in a recession in my view.

00:04:53.000 We're not in a recession according to Joe Biden.

00:04:54.000 So how exactly does he get out of the statement that we are in a recession based on the GDP stats?

00:05:00.000 Well, they're just going to redefine it away.

00:05:02.000 So Corinne Jean-Pierre was specifically asked about the redefinition of the word recession, and she just went right along with the idea that recession now means something different than it meant five minutes ago.

00:05:11.000 Is the White House trying to change the common definition of a recession because next Thursday the GDP numbers coming out are going to show that we've been in a recession?

00:05:18.000 So let me say this, you know, the strength of our labor market along with the other economic factors is what we generally see in a recession or even a pre...

00:05:29.000 It's not what we generally see in a recession, or even a pre-recession, because we're seeing the strength of the economy and the labor market.

00:05:36.000 So that's really important to note there, because those are key elements as we talk about that, as folks keep asking us about that.

00:05:45.000 So what you can say is, we are in a recession.

00:05:47.000 We think it's going to be a shallow recession because the job market is still very strong.

00:05:50.000 We're going to have to slam on the brakes.

00:05:52.000 It's going to enter the economy into a period of negative growth, but then we believe it's going to recover fairly quickly because we are doing the right things, right?

00:05:57.000 That's what a smart political White House would say. 1.00

00:06:00.000 They're not saying that. 0.99

00:06:00.000 Instead, they're saying that the recession doesn't even occur and it's all, it's, you're crazy! 0.99

00:06:04.000 We're redefining the term recession, so we just won't use it.

00:06:07.000 And if we don't say recession, then it doesn't exist.

00:06:09.000 The Biden head of National Economic Council, Brian Deese, here he is explaining recession is not two quarters of negative growth.

00:06:16.000 Right.

00:06:16.000 And certainly in terms of the technical definition, it's not a recession.

00:06:19.000 The technical definition considers a much broader spectrum of data points.

00:06:24.000 But in practical terms, what matters to the American people is whether they have a little economic breathing room, they have more job opportunities, their wages are going up.

00:06:33.000 That has been Joe Biden's focus since coming into office.

00:06:36.000 He has had a view of the economy that we need to look to build from the bottom up and middle out.

00:06:40.000 And what that means is that typical Working class people in this country have had trouble affording things for years. 0.99

00:06:47.000 He is focused on building a strong, durable economic recovery here.

00:06:51.000 We have real global challenges here in the short term.

00:06:53.000 We've got to navigate our way through them, but we have to do so without giving up all our economic gains.

00:06:59.000 What economic gains, precisely?

00:07:01.000 Like, I'd like to hear the economic gains.

00:07:03.000 We've had net wage loss over the course of the Biden administration.

00:07:06.000 amounting to thousands and thousands of dollars per family, thanks to the massive inflation that has taken place here. And if you're going to attribute the rebound in job growth to job...

00:07:17.000 You're going to have to explain why.

00:07:19.000 Truly, considering that a huge percentage of those job gains are concentrated in states that Joe Biden spends his days ripping.

00:07:26.000 He's going to have to explain why it is that red states have done significantly better under Joe Biden than the blue states have.

00:07:31.000 Is that because he's just so kind and generous to the red states?

00:07:33.000 Or is it because they've been running their states the way he does not run the federal government, and they have been reaping the benefit of all of that?

00:07:39.000 When Brian Deese says what Americans, you know, when you're worried about recession, Americans are really worried about whether they have a little breathing room.

00:07:44.000 Do you feel like you have breathing room today?

00:07:46.000 By polling data, something like 85% of Americans believe the country is headed in the wrong direction economically.

00:07:52.000 Do they feel like they have breathing room here?

00:07:54.000 The attempt to just Raising this thing out.

00:07:59.000 It's impressive.

00:08:00.000 I mean, again, you got to give them credit for intestinal fortitude because Americans are looking them straight in the eye and saying, we don't like the way you are running this economy. 0.98

00:08:07.000 They're saying, nope, it's because you're crazy.

00:08:09.000 This has never worked under any circumstances, politically, personally, in any circumstance in your life.

00:08:14.000 When somebody says, I have a serious problem and you say, no, you don't, things are fine.

00:08:19.000 That has never worked out particularly well, at least when you are answerable to that person.

00:08:23.000 So here's Brian Deese then explaining that the slowing economy is necessary for a transition.

00:08:28.000 Again, this sort of rhetoric is not helpful to people.

00:08:30.000 They're not interested in the quote-unquote transition.

00:08:33.000 They're interested in what are you going to do to fix things.

00:08:35.000 But here's Brian Deese trying again to pretend that there's a silver lining to all of this.

00:08:40.000 We are seeing a slowing.

00:08:42.000 That is not only expected but necessary as we operate through this transition.

00:08:46.000 So that's where our focus is in terms of diagnosing the economy.

00:08:50.000 They just keep saying transition over and over and over again.

00:08:55.000 They say we're transitioning to a green economy, so you're going to have to pay higher oil prices.

00:08:58.000 We're transitioning to a build-back-better economy, so you're going to have to deal with the economic fallout.

00:09:02.000 Well, what if we don't like the thing that you're trying to transition to enough to undergo the pain of the quote-unquote transition you're trying to force upon us?

00:09:09.000 And then in the end, of course, Brian Deese is forced to blame Vladimir Putin, which is what they always do.

00:09:13.000 It's amazing how it's sort of Putin knows on, Putin knows off with this crew.

00:09:17.000 So when the gas prices go down, then it's not because of Putin allowing Nord Stream to flow.

00:09:23.000 It's not because of that.

00:09:25.000 It's Putin's price hike when the gas goes up.

00:09:27.000 When the gas goes down, that's because Joe Biden's really good at his job.

00:09:30.000 When inflation is up, well, you know, that's probably the result of corporate greed.

00:09:34.000 When inflation goes down, that's because Joe Biden is really good at his job.

00:09:37.000 It's a completely unfalsifiable thesis, because everything good that happens is attributable to the doddering geriatric in the White House, and everything bad that happens is attributable to everyone else, according to this White House.

00:09:46.000 Here's Brian Zies blaming Vladimir Putin, again.

00:09:50.000 Remember the context here.

00:09:51.000 Putin's invasion of Ukraine has taken a lot of the store of commodities that go into food off the market.

00:09:59.000 Wheat, other grains, because Ukraine and Russia are both big global suppliers.

00:10:03.000 So we're doing what we can to grow more here in the United States, which will help our economy, people here in our country, but also the world.

00:10:11.000 Well, the entire Biden administration is united in their notion that if they just fib to you about a recession is you won't notice that we are in one.

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00:11:48.000 Meanwhile, Janet Yellen, the Treasury Secretary who fully admitted that she did not see this inflation coming, which means that she's really bad at her job.

00:11:54.000 Because again, the definition of inflation is too much money following too few goods.

00:11:58.000 So when you have a supply chain problem, and then you blow trillions of dollars into the economy, as your economic and fiscal policy, it turns out you might get inflation.

00:12:07.000 Well, Janet Yellen, who is supposed to be good at this but is not, she also says we are not headed for a recession.

00:12:07.000 Genius notion.

00:12:14.000 I do want to emphasize what a recession really means is a broad-based contraction in the economy.

00:12:21.000 And even if that number is negative, we are not in a recession now.

00:12:27.000 And I would warn that we should be not characterizing that as a recession.

00:12:34.000 I understand that, but you're splitting hairs.

00:12:36.000 I mean, if the technical definition is two quarters of contraction, you're saying that's not a recession?

00:12:43.000 That's not the technical definition.

00:12:43.000 No.

00:12:45.000 No, okay.

00:12:46.000 That's just the definition that every single person believed it was until five seconds ago.

00:12:51.000 And when people were worried about Joe Biden's economy back last year, they're saying, well, it's not a recession.

00:12:55.000 We haven't even had a single quarter of negative economic growth.

00:12:58.000 Meanwhile, you got the Commerce Secretary Gina Raimondo, who's saying, well, inflation has probably peaked at this point.

00:13:02.000 We were told this two months ago.

00:13:03.000 It apparently had not peaked.

00:13:05.000 Also, if inflation peaks and then just sort of stays on the mesa, Well, that's not great either.

00:13:10.000 If inflation goes from 9.1% annually to, let's say, 7% annually, is that a big win for Joe Biden?

00:13:17.000 He keeps portraying major losses as big wins.

00:13:20.000 He's got his team blasting out there.

00:13:22.000 You know, the price of gas is down like 60 cents over the course of the last 35 days, right?

00:13:26.000 And it's still $4.70 a gallon or something.

00:13:28.000 So they ain't going to win you any prizes, dude.

00:13:31.000 No medals for having $4.60 gas instead of $5 gas.

00:13:35.000 And no medals for 7% inflation instead of 9% inflation.

00:13:39.000 Biden White House.

00:13:40.000 Here's the Commerce Secretary Gina Raimondo trying to happy talk this thing. 1.00

00:13:44.000 Has inflation peaked?

00:13:47.000 You're asking all the crystal ball questions.

00:13:49.000 Well, you talk to a lot of business leaders.

00:13:52.000 Anyone who gives you a straight answer to that I'm not sure is telling you the truth.

00:13:55.000 I think probably.

00:13:57.000 But look, if I had said that a year ago, you know, assuming another war doesn't break out, assuming we don't have another COVID, you know, there's so much Out of our control.

00:14:10.000 Inflation is a global problem.

00:14:13.000 Europe is struggling more than we are.

00:14:15.000 It's been largely driven by things out of our control.

00:14:20.000 I love that they all laugh when they're faced with that.

00:14:22.000 They've all contracted the Joker virus from Kamala Harris.

00:14:27.000 Now, whenever they're asked a tough question, they all just laugh about it.

00:14:30.000 You're the Commerce Secretary.

00:14:31.000 You should have some idea as to whether inflation has peaked or not.

00:14:34.000 But since I get it, you're not going to make predictions because you've gotten every prediction wrong so far.

00:14:38.000 Meanwhile, by the way, Walmart is cutting its profit outlook as it lowers prices to move goods, according to the Wall Street Journal.

00:14:43.000 Walmart is warning that higher prices for food and fuel were causing consumers to pull back, an ominous sign for the U.S.

00:14:49.000 economy that has relied on resilient household spending power through rising inflation.

00:14:53.000 The country's largest retailer, which warned in May it was stuck with too much unsold goods, said on Monday it was having to cut prices to reduce merchandise levels at its flagship chain and Sam's Club warehouse chain.

00:15:01.000 The markdowns will cause the company's profits to fall in the second quarter and fiscal year.

00:15:05.000 Again, none of this is a particular shock because As the Federal Reserve raises the interest rates, as inflation eats up too much of people's money, people are going to spend less.

00:15:14.000 This is how you enter into a period of stagflation, which is what we are about to enter into.

00:15:18.000 And again, even if the inflation rate lowers to 7%, remember the inflation rate that we are typically looking for is like 2%, not 7%.

00:15:26.000 The Biden administration was promising when it came into office like 1.5% inflation annually.

00:15:31.000 We're now looking at something like five times that rate.

00:15:34.000 So no, that is not anything remotely worth bragging about.

00:15:37.000 And the notion that we are going to be able to enter some sort of soft landing here where we don't enter recession by jacking up the interest rates.

00:15:44.000 And while inflation is this high, that was always, that was always fabulism.

00:15:48.000 It was always fantasy.

00:15:50.000 Mohamed El-Erian of Allianz, he has suggested for a while that essentially the way that you were supposed to get out of inflation is by gradually slowing the amount of money you were dumping into the economy.

00:16:01.000 And pulling back on those interest rates, on those 0% interest rates.

00:16:05.000 And you could have done that gradually, but you could have done that at the beginning gradually.

00:16:08.000 You can't do that when your car's about to hit the embankment.

00:16:11.000 Well, the car's about to hit the embankment.

00:16:12.000 That means you've got to slam the brakes on, and there's no way for you not to get some form of whiplash when you slam the brakes on.

00:16:16.000 That's what's going to happen to the economy right now.

00:16:18.000 The announcement sent Walmart's shares down nearly 10% in after-hours trading on Monday and pressured other stocks, with Amazon falling about 4% as well.

00:16:26.000 The warning cast a cloud over a week in which a raft of global brands and multinational companies from McDonald's and Procter & Gamble to Visa and General Motors are slated to update investors on their latest quarterly results and the outlook for the rest of the year.

00:16:36.000 Inflation has been running near the highest levels in decades.

00:16:39.000 The Federal Reserve is expected to raise interest rates this week as it seeks to fight higher prices.

00:16:43.000 Several high-tech companies have warned in recent days of slowing growth.

00:16:45.000 Leaders of some of the biggest banking companies have cautioned they see a high risk of recession now.

00:16:49.000 Walmart, according to the Wall Street Journal, said higher prices for food and fuel have hurt sales of general merchandise, especially apparel.

00:16:55.000 Makes sense?

00:16:56.000 You can only afford gas and food.

00:16:58.000 Right now, you can't afford new clothing.

00:17:00.000 Those generate higher profit margins for the company's clothing.

00:17:03.000 Overall, the company expects comparable store sales, excluding fuel, to rise 6% in the second quarter from a year ago, but the growth is now coming from the less profitable items because, again, people are looking for ways to save a little bit at this point.

00:17:15.000 While U.S.

00:17:15.000 unemployment remains near its lowest levels in decades, consumer sentiment fell in June to its lowest point on record, a sign of concern because household spending accounts for about 70% of U.S.

00:17:24.000 economic output.

00:17:25.000 Some shoppers, especially from lower-income households, are trading down to economy beer and discount cigarettes as they feel more pressure on their pocketbooks.

00:17:31.000 Neil Saunders, the Managing Director of Global Data, says most retailers are not struggling to grow their top lines.

00:17:36.000 They are struggling to maintain high levels of profitability that were commonplace over the past few years.

00:17:40.000 Target also issued a profit warning in June, three weeks after it reported quarterly results, which, like Walmart, showed a surge in inventory levels.

00:17:47.000 The big box retailers were caught off guard this spring as shoppers shifted their spending away from items that had been in high demand during the pandemic.

00:17:54.000 The abrupt shift left many retailers with a glut of peak pandemic favorites, like casual clothing and home products that need to be marked down.

00:18:00.000 Bed Bath & Beyond, Gap, they recently issued profit warnings and replaced their leadership as well.

00:18:04.000 Walmart in May reported that inventories were up about 33% in the first quarter, in part because it misjudged all those shifts in consumer spending.

00:18:12.000 And presumably, that is because of all of the continued talk about lockdowns and the fact people were never going to go back to work and we weren't going to get back to regular life that you kept hearing over and over from the administration and from the media.

00:18:23.000 Now, Walmart and other retailers are trying to unload those items at a time when rising prices for gas and groceries have made some people rethink their spending.

00:18:30.000 So, as we predicted, you're starting to see the earnings go down.

00:18:32.000 That means the stock market is likely to drop some as well.

00:18:35.000 Plus, the Fed is set to inflict more pain on the economy as it readies a big rate hike, according to Rich Miller over at Yahoo Finance in Bloomberg.

00:18:41.000 The Federal Reserve will probably have to inflict much more pain on the economy to get inflation under control.

00:18:45.000 Growth is already slowing in response to the Fed's repeated interest rate increases.

00:18:49.000 With the housing market softening, technology companies curbing hiring and unemployment claims edging up.

00:18:53.000 But with inflation proving persistent at a four-decade high, a growing number of analysts say it will take a full recession and markedly higher joblessness to ease price pressures significantly.

00:19:02.000 Remember, the Biden administration right now, they keep claiming that the job numbers are really, really good, which they are.

00:19:07.000 That's because jobs are a lagging indicator of economic health.

00:19:11.000 The job market didn't really start to take a dump, even in the 2007-2008 recession, until well after the recession was underway.

00:19:17.000 Jobs are the last thing to get cut.

00:19:19.000 So you first have to feel the impact at your company, and then you try to save everybody's job.

00:19:23.000 You know, as the head of a company, I can say we try to hire people, not fire people.

00:19:26.000 And then, only when you have to, do you actually let people go.

00:19:31.000 According to Bloomberg, with inflation proving persistent, There's no choice but to continue jacking up the interest rates.

00:19:39.000 Bank of America chief U.S.

00:19:40.000 economist Michael Gapin is forecasting a mild recession starting in the second half of 2022.

00:19:44.000 He said we have to curb things domestically to help us get where we want to go on inflation.

00:19:50.000 Fed officials continue to maintain they can avoid a recession and instead engineer a soft landing.

00:19:54.000 That looks not particularly promising at this point.

00:19:58.000 And again, the investors are betting that the Fed is going to need to cut interest rates next year to bolster the economy.

00:20:02.000 So what's weird is that the investment class is now suggesting that the Federal Reserve is going to have to jack up the interest rates and then because the economy is weak next year, it's going to have to jack down the interest rates again, which I guess the idea here is that you give a shock cure to the economy to cure the inflation and then you go back to loose monetary policy?

00:20:21.000 I'm not sure how that is going to work particularly well, again, in an economy that has been jacked around so many times in the past couple of years.

00:20:29.000 Obviously, a lot of uncertainty in the market.

00:20:30.000 Investors aren't sure where to go, but here is the thing.

00:20:33.000 Diversification is your friend.

00:20:34.000 I know a lot of people have been ripping on Bitcoin lately, but for me, every time Bitcoin goes down, it's kind of an opportunity, which is why I own Bitcoin.

00:20:41.000 I own Ethereum.

00:20:42.000 I have not sold them because you don't sell when the market is low. 0.98

00:20:44.000 That's a dumb move.

00:20:45.000 Instead, you might want to start experimenting with things like Bitcoin right now because, again, the price is pretty good.

00:20:51.000 Do you have an account with Coinbase?

00:20:51.000 Good.

00:20:52.000 Are you thinking of opening one?

00:20:54.000 Do you own any Bitcoin, Ethereum, Cardano, or other crypto?

00:20:56.000 Crypto might represent the future of money.

00:20:58.000 It's one of the most exciting investment opportunities to come around in a while.

00:21:00.000 But what about taxes?

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00:21:41.000 As the Wall Street Journal is reporting, as the Federal Reserve prepares to meet this week, Wall Street investors are betting that officials will raise interest rates aggressively through the end of the year and then turn around and start cutting them about six months later.

00:21:52.000 The unusual wager reflects investors' growing sense the Fed is driving the economy into a recession as it tries to fight inflation, according to analysts.

00:21:58.000 At the same time, by constraining longer-term borrowing costs, it makes a recession slightly less likely to happen soon.

00:22:03.000 That's a boost to riskier assets like stocks compared with a more traditional bet that rates wouldn't boomerang so quickly.

00:22:09.000 Again, the idea here is they want to lower the interest rates again, because if they keep those interest rates high, they're actually raising the price of the national debt.

00:22:16.000 So they have to reduce the interest rates again.

00:22:19.000 And when they reduce the interest rates again, presumably there'll be more money pouring back into stocks.

00:22:22.000 Bets on the future course of short-term interest rates play a decisive role in determining yields on U.S.

00:22:26.000 government bonds.

00:22:27.000 Those, in turn, set a floor on borrowing costs across the economy, with higher yields curbing growth and lower yields boosting it.

00:22:32.000 On net, investors' current assumptions about the future are doing more to help the inflation fight than hurt it.

00:22:37.000 Their belief the Fed will keep raising interest rates this year means the yields are roughly 3% on treasuries that mature in a year, even though the actual rate control by the Fed is currently set between 1.5% and 1.75%.

00:22:47.000 In other words, they keep investing in the idea that the Fed is going to keep raising rates.

00:22:51.000 Everybody expects the Fed to keep raising rates, but people are still...

00:22:55.000 are attempting to move into the markets in a weird way.

00:23:01.000 Interest rate derivatives, like overnight index swaps, reveal investors thinking in more granular detail.

00:23:05.000 As of Friday, they showed investors expect the Fed to raise its benchmark federal funds rate by three quarters of a percentage point on Wednesday.

00:23:10.000 The Fed is subsequently expected to lift the Fed funds rate to about 3.3% by the end of the year.

00:23:14.000 Investors expect no further increases after that.

00:23:17.000 They're betting the Fed is going to be cutting rates by June, bringing short-term rates to roughly 2.5% by the middle of 2024.

00:23:24.000 Jim Caron, Senior Portfolio Manager, Chief Strategist of Global Fixed Income at Morgan Stanley says, from an expectation standpoint, it's not been at an extreme like this, this sort of anticipated policy turn.

00:23:35.000 The Fed has cut rates within a year of raising them several times in the past, most recently in 2019.

00:23:38.000 Investors, however, have been typically cautious about anticipating pivots like that.

00:23:44.000 So, again, All of this suggests that the Fed has way too much power over the economy.

00:23:48.000 If everybody is sort of betting at this point on whether the Fed is going to raise rates this month or next month or six months from now, we're going to reverse course.

00:23:55.000 Economics is meant to be a predictable business.

00:23:57.000 It's meant to be a business where you have low rates of static in the system, as George Gilder, the economist, has suggested.

00:24:04.000 That is what a solid economy does.

00:24:05.000 You know that the sun is going to rise in the East tomorrow, and that's why you invest in a particular way.

00:24:11.000 If you don't know whether the sun is going to rise in the East, it might rise in the West tomorrow.

00:24:15.000 It makes it very difficult to invest your money.

00:24:17.000 And so the sort of vacillation and up and down that the Federal Reserve is promoting at this point, I don't think is quieting anyone.

00:24:24.000 Well, the economy is really unpredictable right now, but here is the thing.

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00:25:30.000 Meanwhile, the Democrats continue to push forward massive spending in the middle of an inflationary cycle.

00:25:35.000 According to the Wall Street Journal, Democrats are slowly reconciling themselves to the reality they may have to settle for passing a small partisan health care spending bill.

00:25:41.000 But don't be fooled.

00:25:42.000 Their definition of small has expanded like American clothing sizes.

00:25:44.000 Their so-called skinny bill is an enormous expansion in the entitlement state.

00:25:49.000 West Virginia Senator Joe Manchin says he's open to passing a bill that would impose drug price controls to supposedly pay for sweetened Obamacare insurance subsidies for two years.

00:25:56.000 As with Obamacare, Americans will find out what's in the bill after they pass it.

00:25:59.000 Start with the Obamacare subsidies.

00:26:00.000 Democrats last March made the premium tax credits for buying insurance on the Obamacare exchanges far more generous.

00:26:06.000 They removed the eligibility limit, which had been 400% of the poverty line, about 54 grand for an individual.

00:26:12.000 Nearly 5 million enrollees with incomes below 150% of the poverty line paid no premiums for plan this year at all.

00:26:18.000 The subsidies have reduced premiums for millions of Americans by thousands of dollars, but the sweetened subsidies are set to expire at the end of this year, setting up a subsidy cliff, we warned about last March, according to the editorial board.

00:26:28.000 Democrats now want to extend the subsidies for two more years to delay the cliff they created in the first place.

00:26:32.000 Two years from now, they'll do it again ad infinitum.

00:26:34.000 The biggest beneficiaries are the insurers that pocketed the subsidies and then raised the premiums.

00:26:38.000 The CBO raised its estimate for Obamacare exchange spending by $144 billion over the next decade from higher premiums and enrollment.

00:26:45.000 It's laughable for Democrats to claim that extending the subsidies for two years will cost only $40 billion, and it gets worse.

00:26:51.000 More than 20 million Americans now enrolled in Medicaid, It turns out that dumping more money into subsidization of mass public health care costs a lot of money.

00:26:56.000 Most will qualify for the expanded Obamacare subsidies.

00:26:59.000 The Committee for a Responsible Federal Budget estimates all of this would cost $45 billion next year and $495 billion over the next decade.

00:27:06.000 It turns out that dumping more money into subsidization of mass public health care costs a lot of money.

00:27:12.000 Who's shocked by this?

00:27:15.000 And so if you're worried about systemic drags on the American economy, spending is the biggest systemic drag on the American economy, followed closely by regulation.

00:27:22.000 And it's going to be a drag for the rest of the decade.

00:27:24.000 The Biden administration coming into office was predicting that two, three years from now, we were going to be at 1.6%, 1.7% GDP annualized growth rates.

00:27:31.000 Those are not good growth rates.

00:27:32.000 They don't even outpace the 2% expected inflation that you hope for from the Federal Reserve year on year.

00:27:38.000 So, all of this bodes ill for the long-term, mid-term future of the United States unless the United States dramatically reverses course on the way that it does economics.

00:27:46.000 Meanwhile, over in New York, it is amazing that there are so many badly governed areas of the United States that insist Again, just like the Biden administration insists we're not a recession, a lot of badly governed areas insist they're really well governed and they are encouraging people to come back.

00:27:59.000 So you've got Gavin Newsom in California encouraging everybody to come back to California.

00:28:03.000 Meanwhile, they're talking about locking down again.

00:28:06.000 And by the way, the cities that have the highest numbers of people leaving are all in California.

00:28:12.000 According to CNBC.com, from coast to coast, prospective homebuyers are on the hunt for affordability, even if it means leaving their city to find it.

00:28:19.000 A record number of potential U.S.

00:28:20.000 homebuyers are seeking to relocate, according to a report published last week by real estate brokerage firm Redfin.

00:28:25.000 The report ranked the cities Redfin users appeared most likely to try to leave.

00:28:29.000 Here are the cities.

00:28:30.000 San Francisco, L.A., New York.

00:28:30.000 You ready?

00:28:33.000 This is not a shock in any way whatsoever because living standards in those cities have declined markedly.

00:28:39.000 In fact, I'm going to read you the names of the top seven cities.

00:28:42.000 Here we go.

00:28:42.000 You ready?

00:28:43.000 San Francisco, L.A., New York, Washington, D.C., Seattle, Boston, Detroit, You noticing something about those cities?

00:28:50.000 These are some of the most liberal cities in America.

00:28:53.000 I mean, those are major, and here are the cities with the highest level of incoming.

00:28:57.000 You ready?

00:28:57.000 These are the cities with the most net inflow.

00:29:00.000 Here we go.

00:29:00.000 You ready?

00:29:01.000 Miami, Tampa, Florida, Phoenix, Sacramento, which the reason people are moving to Sacramento is they're moving out of San Jose and they're moving out of San Francisco, Las Vegas, Cape Coral, Florida, San Diego, North Port, Florida, San Antonio, Dallas, Okay, so all these blue staters are talking about, come back to our city. 1.00

00:29:21.000 We're running things beautifully.

00:29:22.000 Meanwhile, everybody is leaving.

00:29:24.000 I'm looking at, again, at those, the two worst cities in America for people leaving right now are both in California and the third is New York.

00:29:30.000 And then you look at these cities that are seeing the influx of homeowners.

00:29:35.000 You're talking about in the top 10, one, two, three, four in Florida.

00:29:40.000 Four of those cities are in Florida.

00:29:42.000 And two are in Texas.

00:29:45.000 San Diego is a red city in a very, very blue state.

00:29:49.000 Phoenix is in a red state.

00:29:51.000 Las Vegas, Nevada is in a zero tax state. 0.99

00:29:54.000 So, um, yeah, your governance is garbage, and that is why people are running screaming from your cities. 0.95

00:29:59.000 Meanwhile, Democrats keep saying, what if we got the leadership of these cities and these states to lead the country? 0.96

00:30:05.000 Gavin Newsom is one of the people they're talking about for president of the United States right now.

00:30:09.000 Meanwhile, you got Eric Adams, who is running ads in Florida, trying to encourage people to come back from Florida to New York.

00:30:15.000 So first of all, anybody who feels the inkling to do so, please leave.

00:30:18.000 Seriously, go.

00:30:19.000 Get out of my new home state.

00:30:21.000 Take your values with you.

00:30:21.000 Go back to New York.

00:30:22.000 We don't want you here. 1.00

00:30:24.000 And you're bringing your garbage New York governance down here to Florida. 0.99

00:30:24.000 No one is interested. 0.99

00:30:28.000 No one is interested in the slightest.

00:30:30.000 The reason being, because it turns out that everything is out of control in New York City.

00:30:34.000 Eric Adams came into office pledging that he was going to stop the crime.

00:30:37.000 Well, so far, that is going extraordinarily poorly.

00:30:40.000 So, for example, over the last couple of days, video emerged from New York of a pedestrian being struck by a car and then being robbed twice while he was laying on the ground.

00:30:52.000 According to NBC New York, a jaw-dropping robbery was caught on camera in which police said the victim was stolen from twice by the people responsible for ramming him with a car in the Bronx.

00:31:00.000 Dramatic video of Saturday morning's hit-and-run robbery shows a 39 year old man jogging the final steps of a crosswalk landing on the sidewalk when a black four-door sedan soars off the roadway directly into the victim this apparently happened along east 169th street around 6 40 a.m.

00:31:15.000 the man flips over into the air i mean you can see the video it's totally insane and then you can see what happens next so there he is trying to avoid the car the car hits him he's lying on the pavement And then people get out of their car, and they run up to him, and they rob him.

00:31:31.000 But that's not enough!

00:31:33.000 Apparently, they forgot some more of his stuff.

00:31:36.000 So they ran back, and they run to his front body, and they rob him again.

00:31:41.000 The 39-year-old is suffering significant body trauma, still listed in critical condition as of Sunday.

00:31:48.000 So that is going really, really, really well.

00:31:52.000 Of course, the descriptions of the suspect shall remain completely anonymous.

00:31:57.000 They're still at large right now, but we can't describe them because to do so would be politically incorrect.

00:32:02.000 That's the way it works in the media.

00:32:03.000 We're not allowed to describe the suspect because to do so might promote stereotypes about crime.

00:32:08.000 Meanwhile, in another crime story from the city of New York, a pastor was robbed at gunpoint on tape.

00:32:13.000 There is a Brooklyn pastor, a black Brooklyn pastor, who was robbed at gunpoint during a live stream session.

00:32:20.000 Shockingly, not by members of the KKK, but by street criminals.

00:32:24.000 So here is some of the tape.

00:32:27.000 This is unbelievable.

00:32:28.000 This occurred at the Leaders of Tomorrow International Ministries.

00:32:30.000 All right, all right, all right.

00:32:31.000 All right, all right.

00:32:33.000 Here we go.

00:32:33.000 All right.

00:32:34.000 They're being held up at gunpoint.

00:32:34.000 All right.

00:32:38.000 Three armed masked men storm the podium.

00:32:41.000 The bishop's name is Lamore Whitehead.

00:32:43.000 He's delivering a sermon.

00:32:47.000 And they walk up, and they just take his jewelry.

00:32:53.000 And they stroll right on out.

00:32:57.000 According to the New York Post, police said the bandits took $400,000 worth of jewelry from Whitehead, his wife, and possibly churchgoers.

00:33:03.000 Whitehead, dressed in a maroon suit with a gold-trimmed collar and sleeve cuffs, was wearing a long gold chain and a large ring on each finger at the time.

00:33:09.000 The robbers fled east on Avenue D after the crime.

00:33:13.000 Again, the robbers are still at large, but we are not allowed to actually note any description of the robbers whatsoever, because to do so would be politically incorrect.

00:33:21.000 That's the way that it works in the media.

00:33:24.000 By the way, it is an incredible thing. 0.98

00:33:25.000 You know that if these were white criminals who were robbing, for example, black pastors or hitting a black man with their car and then robbing him, it'd be a national news story. 0.98

00:33:32.000 But black-on-black crime is never a national news story unless it is covered by the right. 0.99

00:33:37.000 Because the victimization of black victims, we have to ignore that so long as the victimizer happens to be a person who is black. 0.76

00:33:44.000 Meanwhile, Eric Adams, the mayor of New York City, again, running his city beautifully. 0.94

00:33:49.000 It is incredible.

00:33:50.000 When they are forced to actually confront the impact of their own principles, things get pretty ugly pretty quickly.

00:33:55.000 So Eric Adams, you'll remember that not all that long ago, he bragged about New York being a sanctuary city on Twitter.

00:34:02.000 He was talking about how New York was a wonderful place to be for illegal immigrants and how they were going to welcome everybody.

00:34:08.000 And it was just so terrible that these terrible, terrible right-wingers were anti-illegal immigration.

00:34:12.000 And so he tweeted out, yes, New York City will remain a sanctuary city under an Adams administration.

00:34:17.000 We should protect our immigrants, period.

00:34:19.000 Well, now he's having some second thoughts because it turns out that Texas and Arizona and other states along the Mexican border Those states are saying, well, you know, we're not all that hot on illegal immigration, but you guys up there, you seem real hot on illegal immigration, so how about you take care of it?

00:34:35.000 And so they've been busing illegal immigrants up to Washington, D.C.

00:34:37.000 and New York, and this has led Eric Adams to whine about the fact that some 5,000 people have now been bused into New York City, and how's he gonna take care of all these people?

00:34:45.000 Well, I mean...

00:34:46.000 Let's put it this way.

00:34:47.000 You guys say that it's racist when the city of Laredo, Texas, which has a population of 35,000, is forced to take in tens of thousands of illegal immigrants every year by the border patrol and by the terrible Biden administration.

00:34:58.000 5,000 illegal immigrants arrive in your city of 10 million people and you're already whining about it. 1.00

00:35:03.000 So, where are your principles, dude?

00:35:05.000 I thought it was a sanctuary city and everything was going to be fine.

00:35:09.000 Borders are bad, aren't they?

00:35:11.000 Explain, Eric Adams.

00:35:13.000 We can't have the historical, I believe people should be housed, but just don't house them on my block.

00:35:22.000 Everyone's block is going to be impacted by this.

00:35:26.000 And so we have to add our advocacy with our ability to help our neighbors.

00:35:34.000 And we need everyone on board with this, you know, because as I stated last week, our schools are going to be impacted.

00:35:41.000 Our healthcare system is going to be impacted.

00:35:44.000 Our infrastructure is going to be impacted.

00:35:47.000 But we're willing to do our job, and we're going to do our job, and we're going to need all New Yorkers to be with us on this.

00:35:53.000 Okay, so now he's complaining.

00:35:54.000 These terrible people at the border shipping these illegal immigrants here.

00:35:59.000 It is amazing to watch the left be clocked in the head by its own boomerang.

00:36:03.000 They throw this policy out there.

00:36:04.000 We're going to nail you with our own policy, and then the boomerang comes back, smacks them in the head, and they have no idea what to do about it.

00:36:09.000 It's also amusing to watch as Democrats start to infight over the fact that the radicals in their own caucus are really bad for them.

00:36:14.000 According to Daily Wire, New York State Senator Jessica Ramos, who is no right-winger, slammed Representative Alexandria Ocasio-Cortez Sunday afternoon on Twitter for allegedly never being present in the community she's supposed to be serving. 0.98

00:36:24.000 Well, that's because she serves the community of Instagram, right?

00:36:27.000 I mean, she's not actually a congressperson.

00:36:28.000 She doesn't do anything for a living. 1.00

00:36:30.000 She goes on Instagram and she talks about things while sticking her face in bowls of ice, then the media cover her as though she's actually promoted a single piece of meaningful legislation her entire career, which she's not. 0.98

00:36:39.000 The remarks from Ramos, chair of the New York Senate Committee on Labor, came in response to an exchange that Ocasio-Cortez had online regarding healthcare.

00:36:46.000 A tweet from a random Twitter account said, quote, A couple of the most highly respected health policy academics recently set up a meeting with AOC's office to discuss NHS-style healthcare reform.

00:36:55.000 They were told bluntly by AOC's staff, we're not doing healthcare right now.

00:36:58.000 I'm really sorry to hear this happen.

00:36:59.000 It's not representative of me nor my values, Ocasio-Cortez responded.

00:37:03.000 If you can connect with details, I'd appreciate it.

00:37:05.000 I'll follow, so DMs will be open.

00:37:06.000 Ramos responded directly, quote, Maybe if you spent more time in your office with your team, you'd know what goes on.

00:37:10.000 Just saying it'd be nice if you breathed our air.

00:37:12.000 So as an employer, what happens with the staffer who said this?

00:37:15.000 She's barely ever present in the community.

00:37:16.000 by the left of AOC.

00:37:17.000 Ramos responding to criticism of her calling out Ocasio-Cortez by explaining that AOC's officers are on the same floor as hers and she's never there.

00:37:24.000 Ramos said, our district officers are on the same floor in the same building.

00:37:26.000 She's barely ever present in the community.

00:37:28.000 It's an indisputable fact.

00:37:29.000 Well, I mean, that is true.

00:37:31.000 Because again, she's not a congressperson.

00:37:33.000 She's an Instagram star.

00:37:35.000 Her job isn't to be with her constituency. 0.61

00:37:37.000 Her constituency is the media.

00:37:38.000 And the media love her.

00:37:40.000 And that's so true of pretty much everybody who governs in these big blue cities.

00:37:43.000 Lori Lightfoot's constituency is not the people of Chicago.

00:37:45.000 It's the media.

00:37:46.000 Gavin Newsom's constituency is not the people of California.

00:37:49.000 It's the media.

00:37:51.000 All of these mayors and governors of big blue cities and big blue states They're all performative actors on behalf of the media.

00:37:59.000 They're not interested in what their constituencies actually want.

00:38:02.000 And then they wonder why they're losing more and more voters to the Republican Party.

00:38:06.000 That would be one giant reason.

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00:39:23.000 Alrighty, Harry's Razors.

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00:40:02.000 You're listening to the largest, fastest growing conservative podcast and radio show in the nation.

00:40:05.000 And meanwhile, let's talk about racism in this here United States.

00:40:14.000 We can talk about it because there's a story that has captured the top of the news, and that is that apparently, supposedly, a mascot at Sesame Place is racist.

00:40:26.000 I continue to fail to see how the tape that we have been shown is racist, but here is the story.

00:40:34.000 Apparently, a video shared by a person named Jodi on social media shows her two daughters excitedly greeting characters as they parade through the popular theme park in Philadelphia.

00:40:42.000 Now again, Philadelphia is A largely minority city.

00:40:46.000 So the idea that Sesame Place is racist, that it'd be a bizarre place to put a racist theme park.

00:40:52.000 It's like right around Philadelphia.

00:40:54.000 It'd be a strange place to put a racist theme park.

00:40:56.000 When the two girls see the character of Rosita walking by, they step forward for a hug or a high five. 0.88

00:41:01.000 And then the mascot appears not to see them and then walks past them.

00:41:07.000 This turned into a national news story because the two little girls are black.

00:41:12.000 And we can't just attribute this action by the person inside the mascot to the fact that it seems rather uncomfortable to be inside the mascot.

00:41:19.000 I don't know what the visibility is like because I've not worn a giant Sesame Street head.

00:41:23.000 But it does not appear that this is a perfect example of brutal systemic American racism.

00:41:29.000 But the mom posted on Instagram, quote, I'm going to keep posting this because this had me hot.

00:41:33.000 We were on our way out of Sesame Place and the kids wanted to stop to see the characters. 0.80

00:41:36.000 This disgusting person blatantly told our kids no, then proceeded to hug the little white girl next to us. 1.00

00:41:41.000 Then when I went to complain about it, they kept looking at me like I'm crazy. 0.96

00:41:44.000 Well, I mean, I asked the lady who the character was, and I wanted to see a supervisor.

00:41:48.000 She told me she didn't know.

00:41:49.000 I'll never step foot in Sesame Place ever again.

00:41:52.000 Please feel free to repost this.

00:41:53.000 Please feel free?

00:41:54.000 It feels like you kind of want the attention.

00:41:56.000 Okay, now this woman's name, it turns out, was Jodi Brown, and she then decided that she might sue Sesame Place over this incident, for which there is no verified actual racism.

00:42:08.000 Here she was explaining.

00:42:09.000 There's several different demands that we've made.

00:42:12.000 Number one, we've called for the immediate termination of that individual.

00:42:17.000 There's no room.

00:42:18.000 There has to be a no-tolerance policy in our country when it comes to racism.

00:42:23.000 We've also asked for an authentic and genuine apology.

00:42:26.000 What we see is the company just responding when they're almost compelled to.

00:42:30.000 When it's damage control.

00:42:32.000 So again, we have to have, you know, the company take more of a proactive step.

00:42:36.000 And they need to do right by these children.

00:42:38.000 I mean, these children have suffered immense harm as a result of it.

00:42:42.000 I mean, they will forever be known as the children who were dismissed or rejected by Sesame Street character.

00:42:48.000 They need to be compensated and need to have therapy allotted for them and so forth.

00:42:53.000 So again, we can't just let this go by without any substantial changes.

00:42:59.000 If the theme park does not do those things, are you contemplating a lawsuit?

00:43:03.000 Oh, of course.

00:43:04.000 We've said from the very beginning that all options will always remain on the table.

00:43:07.000 I mean, we don't want to have these two children engaged in litigation, but if that's what we need to do to effectuate change in this country, that's what we have to do.

00:43:15.000 Oh, there's so much civil rights in here. 1.00

00:43:17.000 That's B. Ivory Lamar, who is the lawyer for the mom. 0.92

00:43:21.000 They've suffered immense harm, have they?

00:43:23.000 It seems like the harm that they suffered was mostly because mom decided to post the video and turn this into a racial issue without any actual evidence that it wasn't just a guy in a giant character suit who didn't see the kids properly and was addressing people behind them.

00:43:34.000 That's what it actually looks like.

00:43:35.000 Not that he's saying no to the kids, but the person inside the character suit is saying no to people who are standing behind the kids.

00:43:43.000 Pretend that this is true racism.

00:43:45.000 The Congressional Black Caucus is now requesting a meeting with the President and General Manager of Sesame Place.

00:43:51.000 The Congressional Black Caucus!

00:43:53.000 Congress!

00:43:55.000 We must have investigative hearings!

00:43:56.000 It's like January 6th what happened over here!

00:43:59.000 Since the video made its way across social media, Sesame Place released a statement saying the performer didn't ignore the kids on purpose, and the nose gesture seen in the footage was not to the children specifically.

00:44:08.000 They called the incident unacceptable.

00:44:09.000 Never do that.

00:44:10.000 Never do that.

00:44:11.000 Just say, that's not what happened.

00:44:13.000 We understand why you would see it that way, but you're wrong.

00:44:16.000 Instead, they quasi-apologize, and that's the worst thing you can do.

00:44:20.000 Now the CBC wants an audience with the Sesame Place Park president and general manager to discuss.

00:44:27.000 And then the CBC says, quote, over the past week, we've seen multiple glaring examples of racism coming from the park, including that viral video.

00:44:32.000 Okay, so where are the other examples?

00:44:35.000 Where are the other examples?

00:44:37.000 She said, I thought it was excuses, the mom.

00:44:38.000 She said, I also thought it was very disrespectful, like they were trying to brush me off. 0.97

00:44:41.000 Well, I mean, they were trying to brush you off because you seem like kind of a crazy person, frankly.

00:44:45.000 Like this is, this is the big, have you never been to a theme park where your kids have tried to get the attention of one of the characters and haven't gotten it?

00:44:52.000 We used to go to Disneyland all the time.

00:44:54.000 The characters are trying to like interact with hundreds of people at one time.

00:44:58.000 Sometimes kids get missed.

00:45:00.000 Is that because of racism?

00:45:01.000 But apparently this is a brutal instance of racism.

00:45:04.000 Brutal!

00:45:06.000 Brutal.

00:45:06.000 And this is why, by the way, it's very important also that we had Benjamin Crump One of the great racial grifters of our time, sign on, sign in.

00:45:13.000 Benjamin Crump is the lawyer who arrives anytime a black person gets shot by a cop who is not a black cop.

00:45:20.000 Benjamin Crump shows up and claims that it's unjustified and unjustifiable, despite the fact that in at least half of the cases, that is not true.

00:45:26.000 I would say significantly more than half of the cases, that's not true.

00:45:29.000 So Benjamin Crump showed up as well to talk about this.

00:45:34.000 He went to a protest and here is what Benjamin Crump had to say.

00:45:39.000 You saw the video.

00:45:41.000 You look in their eyes when Rosette just ignores them as if they are invisible.

00:45:49.000 And it's such a difficult thing for Ms.

00:45:52.000 Brown and her family to have to explain to her six-year-old daughter and six-year-old niece about racism.

00:46:05.000 It's not fair.

00:46:09.000 Ha ha! 0.86

00:46:10.000 I mean, credit to Benjamin Crump for being able to manage the same sort of gravity that he uses when people are actually shot for this.

00:46:18.000 That is kind of impressive.

00:46:19.000 Okay, so we have now learned that if a theme park character mistakenly does not take a picture with a couple of black kids, it's definitely because of racism.

00:46:27.000 But for sure, what's not because of racism is this piece from Damon Young, a contributing columnist for the Washington Post.

00:46:33.000 And this is literally in the Washington Post.

00:46:34.000 Here is the title of the piece.

00:46:35.000 You ready?

00:46:36.000 Someone gave our daughter a white doll.

00:46:38.000 How do we disappear it?

00:46:41.000 Not racist, not racist at all.

00:46:44.000 Quote, we still don't know how it got into our house.

00:46:46.000 Maybe it was a present from my mother-in-law.

00:46:48.000 She regularly sneaks toys and snacks to our kids like they're prisoners and she does them phone card minutes. 0.98

00:46:53.000 Maybe it was borrowed from a classmate or maybe it conjured itself into existence through alchemy and spells.

00:46:58.000 Either way, two months ago, when my wife and I noticed our six-year-old daughter was playing with a white baby doll with long blonde hair, our immediate thought was, wait, where did that come from?

00:47:06.000 And then after watching her dote on it for two days, our thoughts shifted.

00:47:09.000 So, how do we get rid of it?

00:47:12.000 Um, what?

00:47:14.000 My wife and I don't see eye to eye on everything, says this columnist.

00:47:17.000 That would be boring and weird.

00:47:18.000 She loves dancing in public.

00:47:19.000 I love dancing in my chair while eating food by myself.

00:47:21.000 Few things matter to us, however, more than our daughter loving her features, her hair, and her skin as much as we do.

00:47:26.000 She's perceptive enough already to see and feel, even if she can't quite articulate it yet, how white beauty is considered the standard here in America.

00:47:33.000 A status reinforced when she notices monochromatic magazine covers at a bookstore or watches advertisements during her favorite cartoons.

00:47:39.000 Um, first of all, have you not been to a bookstore in like 30 years?

00:47:42.000 Seriously, look at the magazine covers.

00:47:44.000 Those are very diverse magazine covers.

00:47:46.000 Are you talking about who's in commercials these days?

00:47:48.000 It's not monochromatic white people.

00:47:49.000 It really is not.

00:47:51.000 But, says this columnist, We've always been intentional buying her dolls and toys of color.

00:47:55.000 Black is always the preference, but we've made exceptions, like Moana.

00:47:58.000 White dolls, though? 1.00

00:47:59.000 We haven't officially banned them.

00:48:00.000 There's no sign on our stoop saying no dogs or Malibu Barbies.

00:48:03.000 But if we're at a store and the only dolls for sale are white, we'll be leaving doll-less that night.

00:48:06.000 Our rationale is simple.

00:48:07.000 The physiognomy of a baby doll represents what the person buying it considers to be precious.

00:48:11.000 And a decision to gift a white doll to our daughter, who is already aware of the ceaseless cultural proselytization of Eurocentric beauty, could communicate to her that we value those features more than hers.

00:48:22.000 So then the rest of the article is about how they are going to get rid of this doll that their daughter actually likes.

00:48:27.000 They have to dump the doll.

00:48:29.000 Very, very important.

00:48:31.000 They say, our anxiety about her preferring Daisy over her black dolls seemed fernaught.

00:48:36.000 What probably happened is what always happens with my daughter's toys.

00:48:38.000 She got bored with it and started playing with something else.

00:48:41.000 Or, maybe one of us took the initiative and followed through with the disappearing.

00:48:44.000 Maybe Daisy is in the Monongahela River, floating past McKeesport, Pennsylvania.

00:48:48.000 I guess I could ask my wife if she did that. 1.00

00:48:49.000 I guess she could just ask me.

00:48:51.000 But if neither of us ask, neither of us will know the truth.

00:48:54.000 And if neither of us knows the truth, neither of us would have to perjure ourselves at a tribunal.

00:48:57.000 Okay, I just, I question whether a piece about a white family saying, we took a black Barbie and we threw her in the river because we didn't want our daughter playing with black dolls was to believe that black dolls were beautiful.

00:49:11.000 How that would go.

00:49:13.000 And yet that sort of mainstream kind of clear and open racism is perfectly fine in the media.

00:49:18.000 But you have a Sesame Street character who mistakenly ignores a couple of black girls, and that's deep systemic American racism.

00:49:24.000 Yeah, I think you've got this a little backwards, guys.

00:49:26.000 I think you have a little backwards.

00:49:27.000 All right, we'll be back here later today with additional content.

00:49:29.000 In the meantime, go check out The Michael Molls Show that's available right now at dailywireplus.com.

00:49:33.000 I'm Ben Shapiro.

00:49:34.000 This is The Ben Shapiro Show.

00:49:35.000 The Ben Shapiro Show is produced by Bradford Carrington, Executive Producer Jeremy Boren, Supervising Producer Mathis Glover, Production Manager Pavel Lydowsky, Associate Producer Savannah Dominguez-Morris, Editor Adam Sajevitz, Audio Mixer Mike Coromino, Hair and Makeup Artist in Wardrobe Fabiola Christina, Production Coordinator Jessica Grant.

00:50:00.000 The Ben Shapiro Show is a Daily Wire production.

00:50:02.000 Copyright Daily Wire 2022.

00:50:04.000 The White House redefines recession, CNN attacks Christian nationalism, and Trump plans to fire 50,000 government bureaucrats.

The Ben Shapiro Show - July 26, 2022

To Avoid Recession, Just Redefine Recession! | Ep. 1542

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