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00:01:14.000So I don't expect the media to know much about our history.
00:01:18.000In fact, they are almost experts of not knowing anything about our history.
00:01:23.000But when it's so blatant and honestly racist, the way they cover our country, it's worthy of a little bit of focus.
00:01:32.000And so the not the non-biologist woman, at least I think she's a woman.
00:01:38.000She won't tell us if she's a woman or not.
00:01:40.000Katangi Brown Jackson, who's up to become the next Supreme Court justice, was selected simply because of her skin color and because of her chromosomes.
00:02:19.000Again, I don't find delight in saying any of these things, but it's who they decided to put up.
00:02:24.000Senator Mark Kelly from Arizona, soon to be former senator, I hope.
00:02:28.000We're going to do everything we possibly can at Turning Point Action, Turning Point Pact to get rid of him, has said that he's going to vote for Katangi Brown Jackson.
00:02:37.000Raphael Warnock will probably follow suit, and Joe Manchin is as well.
00:02:40.000I think Susan Collins has voiced support as well.
00:02:55.000So, there's been two black people on the Supreme Court in our history: Thurgood Marshall and Clarence Thomas.
00:03:02.000There's also one currently serving, Clarence Thomas.
00:03:05.000But Politico, which again was the one that helped get Joe Biden get elected because they covered up the entire story with Russian disinformation smokescreen, tweeted out the following: quote, Katanji Brown Jackson will likely be confirmed as the first black Supreme Court justice by the end of this week.
00:03:56.000Earlier today, There was a Politico tweet.
00:04:00.000Politico sent out a tweet reading as follows, saying, Katanja Brown Jackson will likely be confirmed as the first black Supreme Court justice by the end of this week.
00:04:37.000It was written up by Mark Tiesson at AEI.org.
00:04:40.000Remembering the black woman Biden blocked from the Supreme Court.
00:04:43.000Biden wants credit nominating the first black woman, but here's the shameful irony.
00:04:46.000As a senator, Biden warned George W. Bush that if he nominated the first black woman to serve on the Supreme Court, he would filibuster and kill her nomination.
00:04:53.000Joe Biden doesn't think much of black people.
00:05:49.000So less dependent on foreign oil, and that protects us from shortages at fuel stations.
00:05:55.000But here's the thing to remember: even if all of the oil we use in the USA were made in the USA, the price of it is still subject to powers and dynamics outside of the USA, which means that until we achieve a form of energy independence that is based on clean energy created here at home, American citizens will still be vulnerable to wild price hikes like we're seeing right now.
00:06:17.000Alfred E. Newman, with the commentary there on energy, I got to tell you that Pete Buttigieg really bothers me.
00:06:27.000He bothers me on a couple different ways.
00:06:29.000His arrogance, his smugness, his kind of like, he almost, he has this almost kind of entitlement.
00:06:37.000He's like, I'm entitled to just good coverage at all times.
00:06:42.000But he's such a creation of the corporate class.
00:06:55.000Well, he's saying that we have to get used to the price hikes until we achieve a form of energy independence that is based on clean energy.
00:07:03.000No talking about oil and natural gas development here.
00:07:06.000No talking about Keystone XL pipeline.
00:07:08.000They would much rather buy the oil from Iran or from other Middle Eastern theocratic dictatorships than explore it here at home.
00:07:41.000The American oil field is definitely capable of more and it frustrates me giantly when I hear Biden say calling OPEC wanting more oil calling Venezuela wanting more.
00:07:57.000But there is a deliberate campaign to try and transition us out of this current state of energy consumption into some sort of undefined future.
00:08:09.000They want to break it so that they could reset it.
00:08:13.000Now, I have this amazing, we don't have the time in this hour.
00:08:17.000So, either tomorrow or Wednesday, you guys got to keep your eyes peeled on the Charlie Kirk Show podcast page.
00:08:24.000There are some phenomenal, actually phenomenal is not the right word.
00:09:50.000Yes, I'll have time to announce that to you.
00:09:52.000So if Putin's a war criminal, answer this question, Joe Biden.
00:09:57.000Why are you having Russia be the interlocutor?
00:10:00.000Why are you having them be the go-between, the neutral party, in your negotiation with Iran?
00:10:06.000If Russia was so terrible, Joe Biden, why are you relying on Russia to negotiate the Iranian nuclear deal?
00:10:14.000We're going to keep our eyes on the Iranian nuclear deal, which could totally change the geopolitical winds of what's happened in the Middle East and across the world.
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00:12:22.000Now, of course, the other side, the Democrats, how are they reacting?
00:12:26.000Well, Eric Adams is now announcing that he is going to put up gay billboards, pro-gay billboards all across Florida in an effort to try to draw people out of Florida and back into New York.
00:12:44.000Eric Adams, who is supposed to be a common sense mayor, who's turning out to be a total disaster, says, quote, we are going to purchase digital billboards for the next eight weeks in five major Florida markets, including Fort Lauderdale, Jacksonville, Orlando, and Tampa and West Palm Beach, to attract gay people back to New York.
00:13:06.000Quote, New York City, where the Stonewall Inn riots ignited what many consider to be the birth of the modern LGBTQ plus movement, never heard of it, has long voiced its support for that community.
00:13:17.000Now it wants its message to be heard in one place, especially Florida.
00:13:21.000Of course, the homosexual community in Florida, for whatever reason, that Eric Adams is trying to pander to, do you think that I actually think many of the gays in Florida are in support of the fact that kids should not be taught about things that are this explicit when they're five, six, or seven years old?
00:13:40.000The GOP legislation, which has drawn intense national scrutiny, no, it hasn't.
00:13:44.000It's actually popular amongst Democrats.
00:13:47.000Bars instruction on sexual orientation and gender identity in kindergarten through third grade, which the mayor called a target attack on the LGBTQ population.
00:13:55.000They even say what it is in this news article.
00:13:59.000The GOP legislation that has drawn intense national scrutiny barred instruction and sexual orientation.
00:14:04.000Look, if you're against, let me say this differently.
00:14:09.000If you're for teaching kindergarten, first, second, and third grade about sexual orientation and gender identity, you got some serious problems.
00:14:19.000In fact, we should probably like surveil you, like some real problems.
00:14:23.000But Eric Adams is totally on board for it.
00:14:25.000He thinks that second graders need to be talked about lesbian and transgender stuff.
00:14:42.000This is important, that Florida has a significant gay population, especially in Clearwater and in St. Petersburg and in all of that.
00:14:52.000So Eric Adams, the way he's going to try to make New York great again is recruit the gay population out of Florida to go to New York around this bill.
00:15:00.000He says, quote, the billboards, Adams said, are from City Hall, which will be up for eight weeks in five major Florida markets, whatever.
00:15:07.000And they'll deliver an estimated 5 million impressions.
00:15:11.000And if you see it, so the, boy, I got to see if I can get this on the live stream.
00:18:06.000And then I think the bigger economic takeaway, Milton Friedman famously, you know, used this language was that there's such thing as trade-offs.
00:18:15.000So it's not just that there's no free things like when you get a stimulus check or whatnot, that someone's paying for it.
00:18:22.000That's all true enough when it comes to public policy, the way we want to view things as conservatives.
00:18:27.000But I think even economically, it's important to understand that to get something we want, we give up something we want.
00:18:35.000When we go to buy something in the store, we give them our money.
00:18:39.000It would be great if we could keep our money and get the thing we want.
00:18:42.000But economics is about allocation of scarcity.
00:18:46.000So there's a really important economic point here.
00:18:49.000And so how do we try to solve the problem of scarcity through redistribution or is there another way?
00:18:57.000Well, the way that has brought most people out of poverty for hundreds of years is this thing called free enterprise.
00:19:05.000A free society that allows people operating in their self-interest with regard for community, with a regard for their fellow man, but to operate with freedom.
00:19:16.000And I believe that we see empirical proof throughout history of the beauty of free enterprise.
00:19:23.000But it's more than just what the state does to impede that with redistribution and how people like you and I may not think it's fair or may not think it's right.
00:19:32.000It really hurts economic growth because the state can't know the things that are necessary and they can't have the incentives that are necessary to optimize scarcity, to optimize the allocation of resources.
00:19:48.000So, people freely end up making better decisions, which leads to more macro economic growth.
00:19:54.000That's the whole beauty of the free enterprise system, Charlie.
00:19:56.000So, we're living through a period of inflation right now.
00:19:59.000I remember I had a lunch in Palm Beach about, let me think about this, about a year ago, year and a half ago, and I said that inflation is coming.
00:20:07.000I was laughed at by a bunch of Wall Street guys.
00:20:10.000They said, Oh, we look at all the fundamentals.
00:20:11.000There's no way it's not going to happen.
00:20:13.000How did the experts get this so wrong?
00:20:15.000I mean, I remember it was so clear and vivid.
00:20:17.000People that are in the money management business told me, No inflation, never going to happen.
00:20:21.000We don't have enough money, but now we're living through catastrophic inflation.
00:20:25.000Yeah, I think that the inflation we're dealing with now is primarily on the supply side of the economy, and people weren't focused on that.
00:20:33.000They didn't believe that the reopening of the economy after the absurd lockdowns was going to lead to this kind of surge in demand.
00:20:42.000So, we're so used to thinking of inflation in the 1970s sense, where there's just too much money chasing too few goods and services, that it never occurred to people that ports not being open and people being incentivized to not go back to work after the extension of Biden employment benefits last year, the truck drivers not being there, the supply chain disruptions.
00:21:06.000Those are the things that really caused a huge escalation in prices.
00:21:10.000And so, I think, Charlie, we have to be afraid of two inflation levels we're dealing with because of what is going on right now in the supply-demand imbalance.
00:21:19.000But then, longer term, I'm very afraid of stagnant economic growth because the excessive indebtedness that we have created in the economy, we go into a Japan-like mold where we can't even, they won't even be able to get inflation in the future because there's too much downward pressure on economic growth, the production of goods and services.
00:21:40.000We need to be a vibrant, healthy economy.
00:21:42.000So, what can the government do at this point from a public policy standpoint to try to check inflation?
00:21:49.000I mean, do rates have to go up or taxes be cut?
00:22:04.000Yeah, but sometimes they need to remove impediments.
00:22:06.000And in this case, I think a lot of the policy side of things regarding the supply chain could be much, much better.
00:22:14.000I was shocked late last year when they said, Oh, the Biden administration is announcing that the port workers are now going to be allowed to work more than eight hours a day.
00:22:23.000And I said, The port workers aren't working over eight hours a day.
00:23:07.000Is all the accounting done every single dollar?
00:23:09.000So, we have the resources that we need in this current moment.
00:23:12.000What we need is this funding to be able to plan for the future, to prepare for, as I say, the possibility of a new variant, the possibility of a new wave.
00:23:21.000We don't want to be caught flat-footed.
00:23:23.000They don't want to be caught flat-footed.
00:23:25.000They need trillions and more dollars potentially to try to solve for the trillions they already spent.
00:23:29.000And so, why is this the pattern of this regime, though?
00:23:55.000And then what you get with those successive deficits is downward pressure on growth.
00:24:01.000So then they want to spend more money to offset the growth.
00:24:04.000And this becomes a vicious cycle, Charlie.
00:24:06.000This is what Japan's been facing for 30 years.
00:24:09.000So we have to get to a point where we right-size government to give incentives to people in the private sector that don't have to worry constantly about interest rates, about taxes, about government spending.
00:24:19.000We need normalcy so people can go act as humans, which is actually very vibrant and productive.
00:24:26.000So we're kind of being gaslit where people are saying that, well, it's not because of recent spending that there's inflation.
00:24:32.000It's all this pent-up demand from the lockdowns.
00:24:35.000Can you talk specifically and concretely about how all these massive stimulus bills we passed, we passed four of them, totaling well over $7 trillion, how that played into what we are now experiencing as some of the worst inflation of our life?
00:24:50.000And then, secondly, what do you think the actual inflation number is?
00:24:54.000So I am one who believes that the worst part of the government spending bill of Biden's last plan, the $1.9 trillion that was passed in March of last year, the worst part was that it incentivized people to not go back to work.
00:25:08.000And that added to inflation, that added to inflation pressures with the labor shortage hurting the supply side of the economy when demand was coming up.
00:25:16.000Ultimately, big government spending, look, we've had mass, I mean, we were at 10 trillion of debt and we went to 30 trillion, and really inflation stayed very low.
00:25:26.000Japan is the largest debt to GDP on the planet.
00:25:30.000So this is why I want to hit home the inflation point where it needs to be improved, where they've been wrong.
00:25:35.000But I don't want us to lose sight of the fact that an even bigger economic problem is out there, which is their debt leading to compression of growth.
00:25:44.000That's the part that's going to hurt kids and grandkids, the next generation.
00:25:48.000They deserve better growth opportunities into the future.
00:25:51.000Yeah, I mean, debt is the slavery of the free in more ways than one.
00:25:55.000So let's go into some of your other economic truths.
00:25:58.000Name one out and let's explore it together.
00:26:01.000Well, this concept of the knowledge problem, I quote from the great 20th century economist Friedrich Hayek, who really taught me as a very, a very young man that the government lacks the knowledge, specific time and place circumstances to do central planning well.
00:26:19.000So there's all these good intentions out there.
00:26:21.000And you hear, of course, in your work all the time, college kids think it sounds great to have central planning.
00:26:27.000They talk about softening the edges of capitalism, whatever that means.
00:26:31.000I think it can be well-intentioned, but I think what Hyatt taught us is the intentions aren't good enough because the government can't ever have the knowledge necessary to make those decisions.
00:26:42.000So this is an economic truth, but I think so many in the right now are used to going and saying, oh, no, the government shouldn't do it.
00:26:54.000But I would argue, even if we could afford it, it doesn't work because they don't have the knowledge or the incentives.
00:27:01.000So I'm really trying, Charlie, to get people to, even when our criticisms are right, to get them right for the right reasons.
00:27:08.000And that's kind of the principles we're talking about.
00:27:11.000So, why is it the state can't have the knowledge?
00:27:13.000Is it a limitation on their own ability, or is it just when you have 330 million people, there's no way they could have the combined intelligence of what the market could possibly demonstrate?
00:27:40.000And so I think that the other aspect is what Hyatt called time and place circumstances.
00:27:46.000you with your business all of a sudden something comes up there's a crisis there's people in whatever city it's in that kind of know a specific context they know what's going on right in that immediate moment our government's trying to set policy that is universal and broad without time and place circumstance without context that is philosophically absurd but economically dangerous tease us with another one of your 250 economic truths Well, I think that one of the most important areas, I started the book.
00:28:34.000This is the beginning of economics to go allocate resources that are scarce to deal with scarcity as productive and creative and innovative agents of him.
00:28:44.000And I think that we lose track of the whole point of economics when we talk about it like it's a spreadsheet or a government bill in Washington, D.C. Economics is about human activity.
00:28:55.000David is a very accomplished businessman, over $3.5 billion in assets, one of the best respected money managers out there.
00:29:04.000And you guys should all check out his book here, No Free Lunch.
00:29:07.000Now, I typed that in to Google and a Milton Friedman deal came up.
00:29:12.000So I want to make sure that we get your book.
00:29:13.000How do we make sure we get your book, David, not Milton Friedman's?
00:29:16.000Yeah, so There's No Free Lunch, 250 Economic Truths.
00:29:20.000It's been a bestseller at Amazon since it came out.
00:29:23.000There's a website for the book called nofree luncheconomics.com, but it's all over Amazon.
00:29:30.000Milton actually never wrote a book called There's No Free Lunch.
00:29:33.000He just put it in a paper and he said it a lot.
00:29:36.000And so, yeah, if people will use their search engine, there's no free lunch.
00:32:34.000Well, you know, as kind of an old guy who works on Wall Street now, people accuse me a lot of not having empathy for where young people are, but I got to tell you, I feel bad for people that were getting out of college around the time of the financial crisis, folks that are in between 20 and 35.
00:32:51.000I honestly believe that what they've seen is first house prices that were collapsing.
00:32:56.000Their parents were in all this economic distress.
00:32:58.000And now they can't afford to buy a house themselves, even if they have a good job and have done well in their young adult life.
00:33:07.000So I get the frustration, but I think it's misguided if they believe that more central planning will help.
00:33:14.000Central planning is what has caused these problems with housing, with student debt.
00:33:19.000We need a more efficient market that works for everyone, and the economy will thrive best when we focus on people that have the ability to pursue their own dreams without intervention.
00:33:31.000Now, I understand sometimes, Charlie, people need help.
00:33:34.000I want a robust belief for compassion, for charity.
00:33:38.000I just don't think the government's very good at administering it.
00:33:41.000I think the welfare state takes away their dignity.
00:33:44.000And what I really want is us to honor this idea of all people being created in the image of God so all people can be productive in society.
00:33:53.000That to me is the recipe for a much better environment economically and for young people to be happier and more fulfilled.