The Charlie Kirk Show - January 20, 2023


Silicon Valley’s Mass Layoff Event + Does Black History Deserve an Entire Month?


Episode Stats


Length

33 minutes

Words per minute

185.9941

Word count

6,299

Sentence count

543

Harmful content

Misogyny

5

sentences flagged

Toxicity

32

sentences flagged

Hate speech

19

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Today on the Charlie Kirk Show, we go through the latest news on the economy and discuss the 5 laws of economics. We also discuss Black History Month and some headlines that have made headlines in the past week. Subscribe to our new podcast, The Economic Collapse, wherever you get your podcasts. Click here to check it out.

Transcript

Transcripts from "The Charlie Kirk Show" are sourced from the Knowledge Fight Interactive Search Tool. Explore them interactively here.
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 Hey, everybody.
00:00:00.000 Today on the Charlie Kirk show, we go through the latest news on the economy.
00:00:04.000 What are the five laws of economics?
00:00:05.000 Well, there's more than that, but the five that we focus on.
00:00:08.000 It's a pretty thoroughly researched episode, and somehow we get into the topic of Black History Month and made some headlines there.
00:00:15.000 Email us freedom at charliekirk.com.
00:00:17.000 Get involved at turningpointusa at tpusa.com.
00:00:20.000 That is tpusa.com.
00:00:21.000 Sort of high school chapter or a college chapter today at tpusa.com.
00:00:26.000 That is tpusa.com.
00:00:28.000 Buckle up, everybody.
00:00:29.000 Here we go.
00:00:30.000 Charlie, what you've done is incredible here.
00:00:32.000 Maybe Charlie Kirk is on the college campus.
00:00:34.000 I want you to know we are lucky to have Charlie Kirk.
00:00:38.000 Charlie Kirk's running the White House, folks.
00:00:41.000 I want to thank Charlie.
00:00:42.000 He's an incredible guy.
00:00:43.000 His spirit, his love of this country, he's done an amazing job building one of the most powerful youth organizations ever created.
00:00:50.000 Turning point USA. 0.65
00:00:51.000 We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.
00:01:00.000 That's why we are here.
00:01:03.000 Brought to you by the Loan Experts I Trust, Andrew and Todd at Sierra Pacific Mortgage at AndrewandTodd.com.
00:01:12.000 I believe there is an economic collapse looming.
00:01:16.000 We've been saying this for a couple months now, and unfortunately, our predictions on this program are coming true at the exact time we said they were going to happen.
00:01:24.000 We said in early 2023, we are going to see mass layoffs.
00:01:28.000 If you are employed right now, you should be thankful that you have a job because this morning, Google just announced 12,000 layoffs.
00:01:35.000 That's 6% of its global workforce.
00:01:37.000 Two days ago, Microsoft just laid off 10,000 people, 5% of its global workforce.
00:01:43.000 Amazon just laid off 18,000 people in two waves of layoffs in the first three months.
00:01:48.000 Facebook has cut 11,000 jobs, 13% of its workforce.
00:01:51.000 Now, there are less famous names.
00:01:53.000 Salesforce laid off 8,000 people.
00:01:55.000 Cisco has laid off 4,100 people.
00:01:57.000 Wayfair just laid off 1,750 people.
00:02:01.000 And of course, Elon Musk's Twitter laid off more than half of its workforce as well.
00:02:05.000 That's 65,000 well-paying, high-income jobs at just a handful of companies.
00:02:10.000 And I know a lot of you say, well, Charlie, these are tech companies.
00:02:12.000 I don't care.
00:02:14.000 And I sympathize with that as far as, you know, I hope some of these companies go under because I think they do more harm than good.
00:02:20.000 But instead, I'm talking about a broader diagnosis of the economic health or lack thereof.
00:02:27.000 That's 65,000 jobs.
00:02:30.000 They pay well in what's supposed to be the most dynamic sector in the American economy.
00:02:34.000 We are now going to see a mass unemployment crisis because we have been living through an inflation crisis and they were always telling us, well, employment is great.
00:02:43.000 Well, yeah, it's great for now until people max out their credit cards coming into the Christmas holiday New Year season, come into the new year, realize they can't pay off or service that debt.
00:02:52.000 Interest rates continue to climb and companies see the writing on the wall and mass layoffs occur.
00:02:58.000 Now, for the last couple of years, unemployment has not really been the metric or the focus of economic health.
00:03:05.000 We've kind of ignored that.
00:03:06.000 Instead, it's been GDP growth and inflation rate because we have engaged in this fictitious theory of modern monetary theory.
00:03:16.000 The modern monetary theory is that of modern monetary theory is more fantastical than Narnia and Middle-earth.
00:03:28.000 It is hoping and wishing for economic progress, engaging in the same sort of belief system that plagues our gender conversation.
00:03:37.000 The rejection of reality comes into our economic conversations.
00:03:42.000 Print unlimited money with no consequences whatsoever, and there's no downside.
00:03:46.000 It's just that easy.
00:03:47.000 You think, I'm kidding, read their literature.
00:03:49.000 You could read thousands of pages of them trying to justify MMT modern monetary theory.
00:03:54.000 It all could be summarized in: we control the printing press.
00:03:57.000 Why don't we turn it on?
00:03:59.000 Now, U.S. retail sales in December dropped the most they have in a year.
00:04:03.000 The excuse they say is, well, people did their holiday shopping in October because realtors offered deals back then.
00:04:10.000 That doesn't sound right. 0.96
00:04:11.000 That's just silly.
00:04:12.000 The spin is just going to just only heat up here.
00:04:14.000 Inflation is allegedly down to 6.5% from 9% in inflation, but they lied about the inflation rate last year.
00:04:21.000 U.S. home sales have fallen for 10 straight months, and property values are collapsing in the 10 major markets across the country.
00:04:28.000 Now, of course, all of this is in time for Republicans taking over Congress.
00:04:32.000 They timed this perfectly.
00:04:33.000 The economic collapse probably should have happened last spring, but the Fed stretched it out just enough so that there was not a massive political consequence to this economic catastrophe that we're about to live through.
00:04:45.000 According to the official numbers, the economy grew at a 3% annual rate last month.
00:04:50.000 Also, according to official estimates, unemployment is low, jobs are being added, and we're now in a labor shortage.
00:04:56.000 Now, things just don't add up.
00:04:57.000 So, the question is: does the economy feel great to you?
00:05:00.000 Of course, it doesn't, hasn't felt for a while.
00:05:02.000 We are now living through the second chapter of a multi-chapter story of what happens when you print trillions of dollars you do not have, unnecessarily lock down your entire society, engage in a multi-year sugar high infusion of artificially low interest rates, and wonder why all of a sudden the economy starts to collapse.
00:05:23.000 If you build your economy on a fake or a false foundation or a house of sand, that Potempkin village is going to collapse. 1.00
00:05:32.000 We've been saying that since the spring of 2020 on this program, three years ago, because I've actually read the economic literature and I don't live in some sort of strange utopian fantasy land like Larry Summers and these tech companies, that the lockdowns never should have happened.
00:05:47.000 Worst mistake in American history, never should have happened, worst mistake in American history.
00:05:54.000 The lockdowns had no zero epidemiological upside, and it created all these economic tremors and false signals and incorrect communication signs all across the economy, which then we created out of thin air.
00:06:10.000 And Republicans are just to blame for this as well.
00:06:13.000 Republicans voted for this.
00:06:14.000 We created $5 to $7 trillion out of thin air on top of the $4 trillion we're already spending.
00:06:18.000 We ballooned our national debt from $25 trillion to $31 trillion.
00:06:24.000 And now we are paying the price of that.
00:06:26.000 And so, look, when you get into this economic recession, we're already in a recession.
00:06:30.000 I've been saying that for a while.
00:06:31.000 I was laughed at by Wall Street people.
00:06:33.000 I remember a lunch I had two years ago in January of 2021 in Palm Beach with private equity guys that all went to Ivy League schools.
00:06:42.000 And I said, we're going to have record inflation.
00:06:43.000 They laughed at me and they said, you don't know what you're talking about.
00:06:45.000 We look at the fundamentals.
00:06:46.000 Inflation is just a construct.
00:06:48.000 It's not going to happen.
00:06:48.000 This is what they think of you.
00:06:50.000 These are the people that are in charge of hundreds of millions of dollars of funds that looked down on me and looked down on you saying inflation is not going to happen.
00:06:57.000 They actually believed it.
00:06:59.000 It really kind of goes to show the power of mass formation psychosis.
00:07:05.000 The amount of mass formation psychosis that plagued Wall Street over the last five years is remarkable.
00:07:09.000 These are people that otherwise are decent family men.
00:07:12.000 They go to church.
00:07:14.000 They're not dumb, but they truly believe that inflation would never hit the shores of America.
00:07:18.000 They believed it. 0.82
00:07:19.000 I debated them.
00:07:19.000 I said, how can you possibly say that?
00:07:21.000 And they said, well, come on.
00:07:22.000 I mean, if you just keep on growing, then the inflation doesn't matter.
00:07:25.000 This was their argument.
00:07:26.000 But now we are entering into a set of circumstances that is very troubling.
00:07:31.000 These economic waters are not going to be easy to navigate.
00:07:33.000 And these layoffs from the big tech companies are the beginning stages of canary in the coal mine, a harbinger.
00:07:38.000 And I hope I'm wrong.
00:07:40.000 I hope you cut this up and say, Charlie, we're going to mock you.
00:07:43.000 But by June, I believe our unemployment rate will be between 5% to 6%.
00:07:47.000 And boy, do I hope I am wrong.
00:07:49.000 I believe that in the next couple of months, we are going to see a bloodbath in the public markets.
00:07:53.000 I believe you're going to see capital calls happen.
00:07:55.000 You're going to see people not be able to service the debt on mass construction projects.
00:07:59.000 And you're going to see that unemployment rate tick up and tick up and tick up, all in time for what will be a very expensive summer.
00:08:08.000 And now the comparison people say is, well, this is like Jimmy Carter stagflation.
00:08:12.000 I think it's different.
00:08:13.000 It's slow-motion crashflation.
00:08:15.000 The economy is going to crater in real time, but slower than a 2008-type Lehman Brothers collapse.
00:08:22.000 It's not going to be like an overnight, wow, we need to, the market loses 30% in the span of eight days.
00:08:27.000 If I remember correctly, in September, October in 2007, 2008, it just collapsed.
00:08:34.000 It was like 30% of the market disappeared within a span of two weeks when these investment banks suddenly collapsed.
00:08:41.000 By the way, Goldman Sachs has completely laid off.
00:08:45.000 Not completely laid off.
00:08:46.000 They laid off thousands of workers.
00:08:47.000 This is from Goldman Sachs.
00:08:50.000 This is on social media.
00:08:52.000 It says, someone from Goldman Sachs sent this message.
00:08:54.000 The entire institutional sales floor was laid off yesterday.
00:08:57.000 The music is about to stop, be ready.
00:08:59.000 We've been saying this for a while.
00:09:00.000 We get laughed at.
00:09:00.000 We get, you know, people say, oh, Charlie, the economy is just fine.
00:09:03.000 But you go to this show to get the truth.
00:09:05.000 I'm telling you, there's a bloodbath coming.
00:09:07.000 I hope you guys are ready.
00:09:08.000 I hope you don't have a lot of debt.
00:09:10.000 I pray that you guys have not maxed out your credit cards.
00:09:12.000 I pray you did not take out a mortgage you couldn't afford because the music's about to stop and there's going to be blood in the streets metaphorically.
00:09:18.000 I work in institutional sales, Goldman Sachs, entire floor laid off today.
00:09:22.000 Partner held a meeting saying the music's about to stop.
00:09:24.000 Please keep anonymous.
00:09:25.000 You better believe that that knife is about to fall.
00:09:29.000 So what does that mean?
00:09:30.000 That means that our leaders are going to be left with a set of choices.
00:09:35.000 And I'm going to walk you through what those choices are.
00:09:37.000 They could make mature choices, such as cutting spending and going through an austerity chapter and actually going through some shrinking and tightening of the belt.
00:09:46.000 Or they could lean in and double and triple and quadruple down on the very behavior that got us into this because they're afraid of actually having to face the music and making appropriate and mature decisions that long term could result in the fiscal well-being insolvency of our country.
00:10:03.000 They might actually recommend publicly a great reset.
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00:11:19.000 I want to hear from you.
00:11:21.000 What do you feel economically?
00:11:22.000 What are the pressures you're seeing?
00:11:23.000 What businesses are you in?
00:11:25.000 How are you prepared for what is coming next?
00:11:28.000 You might say, oh, Charlie, come on.
00:11:29.000 We got an email here.
00:11:30.000 Charlie, I don't think the collapse is going to be that bad.
00:11:32.000 I think it's overhyped.
00:11:33.000 You might believe that.
00:11:34.000 I have no idea the severity of it, but there is something happening.
00:11:38.000 You have to look at reality.
00:11:39.000 You can't wish yourself into economic prosperity.
00:11:45.000 It's not possible, especially with all these different signals and indicators.
00:11:49.000 So what now?
00:11:50.000 What is the path forward?
00:11:52.000 The World Economic Forum, the people that are in Davos, that is concluded in Davos, they are very clear that they, and they've said this for a while, they want a currency reset.
00:12:01.000 But in order to reset something, you must first break it.
00:12:04.000 I believe we are living through the beginning and the initial stages of them trying to break the Western established order of private property, of a strong currency.
00:12:13.000 Specifically, what has been the two strongest currencies over the last 100 years is the British pound and the American dollar.
00:12:19.000 They work in harmony together.
00:12:21.000 Those have been the reserve currencies of the Western world and, quite honestly, the developed world and the civilized world over the last couple hundred years.
00:12:27.000 They're the only two major currencies that have not gone through a currency reset in the last 100 years. 0.99
00:12:32.000 The Euro is trash. 0.99
00:12:33.000 The Euro has been trash for a while. 1.00
00:12:35.000 The Euro is, I believe, a currency that is just waiting to be totally and completely destabilized. 0.98
00:12:41.000 We can go through the reason for that.
00:12:42.000 The Euro basically just should be the, it just should be called the Deutsch, the Deutsche.
00:12:48.000 They used to call the German currency, Blake would know, used to be called the mark.
00:12:48.000 Is that the mark?
00:12:53.000 They used to call it, not anymore, but they're obviously the Deutschmark.
00:12:55.000 That's right.
00:12:57.000 And they're obviously now on the Euro, which is all supported by German engineering, precision, work ethic, and focus.
00:13:04.000 And the German economy is one to marvel at.
00:13:08.000 It's amazing.
00:13:09.000 But look, the Euro is basically a German plot to dominate the continent. 0.52
00:13:13.000 It's not a quest for benevolency.
00:13:15.000 The Euro was basically another German conquest to be able to take over Europe. 0.92
00:13:21.000 It's hilarious.
00:13:23.000 Because Spain and Portugal and Greece, which are obviously not as productive economies, wonderful people, actually really fun countries to visit.
00:13:30.000 Love Spain, love Greece.
00:13:32.000 In a really weird way, Germany, yes, is being punished for how they behaved in World War II, but in the same way they're being told, why don't you just take over the entire European continent?
00:13:41.000 Anyway, so that's a little bit of a sidebar.
00:13:45.000 The Euro and the dollar, the two, not the Euro, I'm sorry, the pound and the dollar are the two that have not gone through a currency reset or a currency recalibration.
00:13:53.000 They've just been deteriorated through mass modern monetary theory and fiscal stimulus and the easing of quantitative pressures, otherwise known as quantitative easing.
00:14:02.000 So what does that mean?
00:14:02.000 That means our leaders can do a couple things.
00:14:05.000 And by the way, what I love about it, I could talk about economics all day long.
00:14:08.000 We don't do it that much on this program because there's other news.
00:14:11.000 And quite honestly, it's just so obvious.
00:14:12.000 It's so common sense. 0.98
00:14:13.000 And the buffoons on television on CNBC overcomplicate this stuff because I think they're very corrupt and they're very prideful. 0.94
00:14:20.000 You could just read Henry Hazlitt's book, Economics in One Lesson. 0.94
00:14:23.000 I highly recommend it.
00:14:24.000 It's very simple.
00:14:25.000 It's like this big.
00:14:26.000 We give it out at Turning Point USA chapter meetings.
00:14:28.000 It's so simple.
00:14:29.000 And it just goes through economic laws, which is people respond to incentives.
00:14:34.000 Private property is necessary for freedom.
00:14:36.000 You can't print wealth.
00:14:38.000 Very, very simple stuff, right?
00:14:40.000 And so if you understand these laws of economics the same way that you understand the laws of gravity, the laws of thermodynamics, you understand the laws of Newtonian physics, right?
00:14:49.000 An object at rest will stay at rest.
00:14:51.000 For every action, there's even an opposite reaction.
00:14:52.000 Force equals mass times acceleration.
00:14:54.000 And guess what?
00:14:55.000 You can't print wealth if you just turn on a printing press.
00:14:58.000 All these things work in harmony.
00:14:59.000 If you believe in a creator, you believe we are the creation, then therefore you believe that there are laws to all of our conduct, conduct, and our behavior.
00:15:06.000 And yes, those laws, those natural laws, as it would be called in the Catholic tradition more specifically, apply to economics.
00:15:14.000 And look, so economics try to make it seem like their work is insanely complicated, but 90% of the best wisdom can be learned by a high schooler.
00:15:22.000 And honestly, I talk to carpenters and plumbers.
00:15:25.000 I talk to taxi drivers.
00:15:26.000 They understand economics far better than Paul Krugman. 1.00
00:15:29.000 Paul Krugman is an idiot. 1.00
00:15:30.000 And I don't use that word lightly. 1.00
00:15:31.000 I know people that say, Charlie, be more complicated than that. 0.99
00:15:33.000 No, Paul Krugman is a buffoon. 0.95
00:15:36.000 He has been wrong about everything. 0.96
00:15:37.000 I've read his books.
00:15:38.000 He is a, he's a Keynesian.
00:15:41.000 He believes in, he's never actually, I have to say this.
00:15:45.000 Paul Krugman is, And I know this might sound to be an argument from authority and ad hominem, but Paul Krugman, not having actually worked, to the best of my knowledge, running a business, having to make a payroll, he's so academic.
00:16:00.000 He's so focused on economic abstractions, the guy's been wrong about everything.
00:16:05.000 I mean, you can go back to his, go find the tweet.
00:16:07.000 I have it logged in my memory.
00:16:09.000 Maybe it was memory hold.
00:16:11.000 2000 and December, here we go.
00:16:13.000 2000, December, 2016, predicting the stock market would crash because Donald Trump was president.
00:16:19.000 Go find the tweet.
00:16:20.000 This is a guy that allegedly won the Nobel Prize.
00:16:23.000 His AP economics textbook is all over high school classrooms.
00:16:28.000 He said the internet would be no bigger than the fax machine. 0.96
00:16:30.000 This guy's a buffoon, and he has been for a while. 0.96
00:16:33.000 Yep, that's it. 0.98
00:16:34.000 Thank you.
00:16:35.000 I think I got the date right too.
00:16:37.000 Yeah, I was off by a month.
00:16:39.000 November of 2016.
00:16:40.000 Paul Krugman, Trump will bring global recession.
00:16:44.000 Yeah, the exact opposite happened.
00:16:46.000 These are the people that make it seem so complicated.
00:16:48.000 You have to have all these degrees.
00:16:49.000 Economics is rooted in the natural law.
00:16:52.000 If you understand basic economic principles, you can apply them to macro trends.
00:16:58.000 Hey, everybody, Charlie Kirk here.
00:16:59.000 2022 is history.
00:17:01.000 But have you thought about what you'll do in 2023, how you'll make it better than last year?
00:17:05.000 That's why I have a challenge for you.
00:17:07.000 Become better educated.
00:17:09.000 Look, every new year has a new opportunity.
00:17:12.000 So I have a great way for you to make the most of this one.
00:17:15.000 Join me in helping take the online courses at Hillsdale College.
00:17:19.000 Their amazing online courses are for free for all who wish to learn.
00:17:23.000 They have significantly enriched my life.
00:17:25.000 Look, take one of these fantastic courses, like the beauty of the Bible in the Genesis story.
00:17:30.000 Study the writings of C.S. Lewis, or maybe even go into the meaning of America in Constitution 101.
00:17:37.000 There are many courses to choose from.
00:17:38.000 They're self-paced.
00:17:40.000 They're free.
00:17:40.000 They're fulfilling.
00:17:41.000 They're deep.
00:17:41.000 They're beautiful.
00:17:42.000 Go to charlie4hillsdale.com and pick one of the more than 30 free Hillsdale online courses.
00:17:48.000 I hope you'll accept my challenge.
00:17:50.000 Pick whichever course you like.
00:17:51.000 That is charlie4hillsdale.com.
00:17:54.000 Resolve to go deeper and get more educated this year.
00:17:57.000 Charlie4Hillsdale.com.
00:18:02.000 We got an email here.
00:18:03.000 Charlie, I made the fortunate move to southern Cal Florida to southern Florida, sunny southern Florida, seven years ago.
00:18:11.000 I've been able to save 30% more in my income each year since doing so.
00:18:15.000 I lost my IT job at Dell, but quickly landed a new career.
00:18:19.000 I spent hours every day fighting to land a new job, knowing the tsunami you're talking about was coming.
00:18:23.000 My advice to everyone is migrate down to Florida.
00:18:26.000 Just ordered my new t-shirt, Florida America's Freedom Zone.
00:18:30.000 Now, there is some wisdom to that.
00:18:31.000 I mean, it's biblical.
00:18:32.000 What's the first thing that God said to Abram?
00:18:34.000 Go from your country, your people, and your father's household to the land I will show you. 1.00
00:18:38.000 The lesson that the Torah is trying to teach there, in my personal opinion, is you got to be willing to move.
00:18:43.000 That's it.
00:18:44.000 You got to be willing to move if you think that it will be beneficial to you and not just be tied to your land just for pride or for certain other reasons.
00:18:52.000 With that being said, though, I do not think it's economically, culturally healthy to continually tell people you got to move for the sake of moving.
00:18:58.000 I've said for a while, if I could still live in Chicago, I would.
00:19:01.000 It was just untenable in more ways than one.
00:19:04.000 Okay, so look, there's five basic laws of economics that I repeat.
00:19:10.000 And there's also three ways to describe capitalism at its best.
00:19:14.000 It's the three P's. 0.92
00:19:15.000 I use that almost every speech that this comes up with, which is prices, profit, and private property.
00:19:20.000 Those three things can best explain free market capitalism.
00:19:23.000 At those threes, you do not have them.
00:19:24.000 You need a price system, which is how people communicate with each other without ever opening their mouth.
00:19:29.000 Prices are how we communicate value.
00:19:31.000 You need private property.
00:19:32.000 This is mine.
00:19:32.000 This is not yours.
00:19:33.000 And profit.
00:19:34.000 If you are not able to turn a profit, then why would anyone do anything?
00:19:36.000 Incentives, incentives, incentives, incentives are the overarching theme of economics.
00:19:42.000 Economics is the project of trying to address scarcity.
00:19:47.000 You must acknowledge before you get into any economic debate or argument or conversation that the world, by definition, is scarce.
00:19:56.000 Our time is scarce.
00:19:58.000 Our resources are scarce.
00:20:00.000 And so here are five laws.
00:20:02.000 Very simple.
00:20:03.000 This is not an exhaustive list.
00:20:05.000 Our leaders do not acknowledge these.
00:20:07.000 In fact, they're at war with these laws.
00:20:08.000 That sounds very similar to other non-economic-related topics, doesn't it?
00:20:18.000 At laws with war with the laws of nature?
00:20:22.000 Huh.
00:20:23.000 When it comes to gender, when it comes to how we raise our children, when it comes to borders.
00:20:30.000 Seems as if our elites and our rulers, they are doing everything they can to resist those pesky shackles of reality.
00:20:39.000 Okay, five laws.
00:20:41.000 Money is not wealth.
00:20:42.000 Very simple.
00:20:43.000 Just pieces of paper are not wealth.
00:20:45.000 Wealth is the creation of value.
00:20:49.000 You might say, well, Charlie, what is valuable?
00:20:51.000 The people have to largely decide that.
00:20:53.000 That's why markets are the best system.
00:20:55.000 Are there problems in markets?
00:20:56.000 Of course.
00:20:56.000 I'm not a puritanical market person, by the way.
00:20:59.000 I believe that certain externalities need to be focused on and dealt with.
00:21:02.000 I believe that markets can create externalities that are really bad and damaging.
00:21:06.000 You might say, Charlie, give me an example of that.
00:21:08.000 I don't think it's a good thing that people are on the antidepressants that they're on and that are on back pain medication that turns into drug addiction.
00:21:17.000 I don't think it's a good thing we went from 50,000 drug overdoses in 2017 to 105,000 drug overdoses five years later.
00:21:24.000 If markets are creating negative and disturbing trends, we must be willing to have the courage and the political power to come together and say that's not good.
00:21:33.000 It's not making a more virtuous society.
00:21:35.000 It's not helping children be raised.
00:21:37.000 But largely, markets do point us towards something that is, I don't want to say virtuous, but at least is livable, right?
00:21:45.000 For example, the sex market is evil.
00:21:47.000 It commoditizes people.
00:21:48.000 Again, that's another example of a bad market.
00:21:50.000 Those are externalities that a pure libertarian would say, who are we to judge?
00:21:53.000 Why would we shut it down?
00:21:55.000 I, as a conservative, I say, no, no, no, no.
00:21:57.000 There are externalities that are created sometimes in markets, and we should be willing to address them for the well-being of children, families, virtue, goodness, and beauty.
00:22:06.000 Okay, money is not wealth.
00:22:07.000 Number two, this is so simple.
00:22:08.000 This is, and by the way, this is something that almost every supply-side Republican that we call neoliberals, I can agree with them on.
00:22:17.000 Only production creates wealth.
00:22:18.000 You need to produce something.
00:22:20.000 And if I could have like a subset to this economic law, you need entrepreneurs to create something.
00:22:25.000 Government bureaucrats create nothing. 0.96
00:22:27.000 They only destroy.
00:22:30.000 When was the last time I heard or you heard a leader talk about the necessity of entrepreneurs?
00:22:40.000 You know, entrepreneur is one of the few words that has an 85 to 90% approval rating.
00:22:44.000 Everyone loves the story of an entrepreneur.
00:22:47.000 The lower income single mom that decides to start a business or the restaurateur or the family that comes to America and starts a laundromat. 0.91
00:22:58.000 That's fundamentally American.
00:22:59.000 It's in our DNA.
00:23:00.000 We should celebrate that more.
00:23:02.000 In fact, not only should we celebrate it, it is necessary to the vitality of our nation.
00:23:08.000 And this, again, this is just a complaint against the GOP in general.
00:23:12.000 Instead of having gay month and black month, why don't we have entrepreneur month? 0.99
00:23:16.000 I'm being perfectly honest.
00:23:18.000 I would love to participate in a month where we celebrate entrepreneurs instead of gay pride at NHL time and black history this. 0.72
00:23:27.000 Completely irrelevant, I'll be honest, compared to what should be colorblind entrepreneurialism.
00:23:34.000 Those are damaging identity politics when we should talk about lifting people up, production, taking risk, waking up early and going to bed late.
00:23:44.000 Those are beautiful things.
00:23:45.000 It's fundamentally American.
00:23:47.000 I love entrepreneurs.
00:23:48.000 I love learning from entrepreneurs.
00:23:49.000 I had dinner with an entrepreneur last night.
00:23:51.000 Love learning about their business.
00:23:52.000 It's fascinating to me.
00:23:54.000 And not everyone is cut out to be an entrepreneur.
00:23:56.000 Some people want to be an employee, and that's okay.
00:23:58.000 It's a beautiful thing to want to work for somebody, too.
00:24:01.000 But work is also a good thing.
00:24:03.000 The Bible talks about this a lot.
00:24:04.000 There's this whole anti-work crusade that I think is really damaging to our soul.
00:24:09.000 Work should not be everything, by the way, at all.
00:24:11.000 I actually would, you know, people say, Charlie, if you were running, again, this is, now we're getting into some radical stuff.
00:24:17.000 They'd say, Charlie, if you were running the Republican Party, what do you think they should run on?
00:24:21.000 I think we should run on national blue laws.
00:24:23.000 I think that the Republican Party should make it in their platform that the whole country shuts down for a day.
00:24:31.000 And guess what?
00:24:32.000 I believe a lot of millennials in Gen Z would love it.
00:24:34.000 I think we should bring back a full hard stop, Shabbos, Shabbos, or Shabbat. 0.67
00:24:41.000 Stop.
00:24:41.000 Friday night to Saturday night outside of emergency medical services and 24-hour Walgreens and grocery stores.
00:24:49.000 I think the whole country should shut down for the well-being of our mental health, our spiritual health.
00:24:55.000 Families would bind together.
00:24:56.000 I think we should do it by government decree.
00:24:59.000 And people say, oh, come on, Charlie, that's not very free market of you.
00:25:02.000 Yes and no.
00:25:03.000 Remember, markets should point towards virtue.
00:25:06.000 And I think bringing back this idea of a national stop.
00:25:09.000 Let me ask you a question.
00:25:10.000 Do you think if we actually did that, do you think that suicides would go up, stay the same, or go down?
00:25:16.000 Do you think drug overdoses would go up, stay the same, or go down?
00:25:20.000 I'm a big believer in national blue laws.
00:25:23.000 Anyway, that's a contrarian opinion.
00:25:25.000 People say, where am I going to go shopping?
00:25:26.000 You're not actually.
00:25:27.000 You actually got to go read a book or walk in a park or do something that actually gives your soul life.
00:25:32.000 Not, I need to go to Neiman Marcus and get the latest belt or purse or whatever.
00:25:36.000 Yeah, you can do that the next day.
00:25:37.000 Sorry.
00:25:38.000 Okay.
00:25:39.000 And just to be clear, I don't believe Black History Month is worth the kind of full month that it is at all. 0.99
00:25:45.000 And by the way, the way they do it is very BLM-centric and all that.
00:25:49.000 If they were talking about Clarence Thomas and Frederick Douglass, okay, I could probably get along with that.
00:25:53.000 But let me be very clear: Black History Month is not what they say it is.
00:25:57.000 It has become captured by the BLM agenda of race-based discrimination.
00:26:04.000 I would love to talk about Madam C.J. Walker, the first self-made female millionaire in the United States.
00:26:09.000 But also, I do not believe in having a whole month, by the way, she was black, a whole month dedicated to a race. 0.94
00:26:16.000 I just find that really damaging.
00:26:18.000 It's self-defeating.
00:26:19.000 Doesn't make any sense to me.
00:26:20.000 I don't like it.
00:26:21.000 Okay.
00:26:22.000 Next law of economics: production always has a cost.
00:26:26.000 There is no such thing as a free lunch.
00:26:29.000 Pretty simple.
00:26:30.000 Milton Freeman wrote a whole book about this.
00:26:32.000 There is no such thing as a free lunch.
00:26:34.000 What is the price?
00:26:36.000 Fourth thing: people respond to incentives.
00:26:40.000 Incentives are what drive human behavior.
00:26:43.000 The price system, all these different things, people respond to incentives in that way.
00:26:50.000 And by the way, that's what's driving the border crisis.
00:26:53.000 Free benefits.
00:26:55.000 I can have amnesty or I won't get deported.
00:26:58.000 Finally, prices are the most efficient way to communicate value.
00:27:01.000 Price controls create shortages.
00:27:03.000 That's a general truth, meaning there are some exceptions to that.
00:27:07.000 So these are five laws our leaders deny.
00:27:10.000 They talk about climate deniers and they live in, oh, yeah, these people are conspiracy theorists.
00:27:14.000 You know what the conspiracy theorists are?
00:27:16.000 The conspiracy theorist is Janet Yellen.
00:27:18.000 Janet Yellen's a conspiracy theorist. 1.00
00:27:19.000 She doesn't acknowledge most of these laws.
00:27:21.000 Money is not wealth.
00:27:23.000 Only production creates wealth.
00:27:24.000 Production always has a cost.
00:27:25.000 There's no such thing as a free lunch.
00:27:26.000 People respond to incentives and prices are the most efficient way to communicate value.
00:27:30.000 Price controls create shortages.
00:27:33.000 And I'd love your thoughts.
00:27:34.000 Would you guys prefer to have Black Month and Gay Month or Entrepreneur Month?
00:27:40.000 I would love to celebrate entrepreneurs of all colors and backgrounds, including black entrepreneurs.
00:27:46.000 And let me ask you a question: the more we've emphasized Black Month in February, has it healed any national racial trauma or only deepened national racial trauma?
00:27:58.000 That's a legitimate question.
00:27:59.000 I don't know.
00:28:00.000 Charlie, Entrepreneur Exists, a month that exists.
00:28:03.000 It's in November.
00:28:04.000 I watch the show Shark Tank all the time, and that's how I know about it.
00:28:07.000 Okay, I stand corrected.
00:28:08.000 I guess there is Entrepreneur Month.
00:28:10.000 Okay, does that get the same focus as Pride Month and Black Month?
00:28:14.000 No, that's a legitimate question.
00:28:16.000 I've never heard about it.
00:28:18.000 And I also want to make sure my position is clear on this because I'm sure Media Matters and all these people are there.
00:28:25.000 I would love to live in America where we don't talk about race all the time.
00:28:31.000 Focusing on the premise that race matters, which is what Black Month does, and I don't think race matters at all, I think actually only deepens any sort of racial wounds and creates more bigotry.
00:28:42.000 I'd love to live in a colorblind society.
00:28:44.000 That was MLK's dream.
00:28:46.000 Why is it we're still focusing about race?
00:28:50.000 The March for Life is amazing.
00:28:52.000 If you guys have never been, Maureen Bannon, if you want hope for the future of America, I encourage you guys to go to the March for Life at least once in your life.
00:29:01.000 It is moving.
00:29:02.000 It's powerful.
00:29:03.000 I went a couple years ago.
00:29:04.000 I'm trying to think when I went.
00:29:06.000 I think I went in 2020, I want to say.
00:29:10.000 Donald Trump was the first president to attend.
00:29:12.000 And let me just say, I am a little bit upset at some pro-life leaders that are attacking Trump on certain things.
00:29:18.000 Without Donald Trump, we would not have been able to reverse Roe versus Wade.
00:29:22.000 It's the 50th anniversary of the March for Life, and Donald Trump deserves a lot of credit.
00:29:26.000 Kavanaugh, Amy Coney, Barrett, Neil Gorsuch, very important.
00:29:33.000 And as you know, in this program, we are 100% pro-life.
00:29:35.000 We own it.
00:29:37.000 And we get a lot of angry messages and emails and death threats because of our pro-life stance here.
00:29:43.000 Someone says here, Charlie, I am behind you on Entrepreneur Month. 0.99
00:29:46.000 Gay Pride is a ridiculous event. 1.00
00:29:48.000 And Black history is American history, so I'm against Black History Month. 0.98
00:29:53.000 Yeah, I mean, look, if February is American History Month and we incorporated it, incorporated the story of Black America within that, then fine, that's great.
00:30:03.000 But having a whole month focus on a race is just damaging.
00:30:07.000 Yeah, and by the way, of course, and people say, Charlie, you're whitewashing history.
00:30:10.000 No, actually, I want to tell the proper story of American history.
00:30:14.000 For example, what's one thing every human being has in common?
00:30:18.000 You're born into a world you did not create with values you did not choose, with leaders you did not select.
00:30:23.000 So therefore, you must judge somebody based on the time and the circumstance that they're born into.
00:30:29.000 The founding fathers were born into a world where slavery was ubiquitous, and they entered a world where slavery was on its way out.
00:30:36.000 That is a moral good for society.
00:30:38.000 It's a transformational service.
00:30:40.000 From Wilberforce to even the private writings of Jefferson, to the actions of Washington, to the incredible abolitionist courageous efforts of John Quincy Adams, who ran for Congress just to be able to get back into the halls of Congress after being president, one-term president, Andrew Jackson, came after him to be able to fight for the abolition of slavery.
00:31:04.000 In fact, Quincy Adams, who's such a passionate defender, I believe he submitted a bill for abolition every single day of the House.
00:31:10.000 They had to institute a special rule to say you can't continue to introduce a bill every single day.
00:31:15.000 Here's Morgan Freeman.
00:31:16.000 Does he agree with us?
00:31:17.000 Black History Month?
00:31:18.000 His thought?
00:31:18.000 Play Cut 114.
00:31:20.000 Black History Month, you find ridiculous. 0.98
00:31:24.000 Why? 0.96
00:31:25.000 You're going to relegate my history to a month?
00:31:28.000 Oh, come on. 0.87
00:31:28.000 What do you do with yours? 0.87
00:31:31.000 Which month is White History Month? 0.88
00:31:34.000 Well, come on.
00:31:35.000 Tell me.
00:31:37.000 I'm Jewish.
00:31:40.000 Okay, which month is Jewish History Month?
00:31:42.000 There isn't one.
00:31:43.000 Oh, oh, why not?
00:31:46.000 Do you want one?
00:31:47.000 No, no, no.
00:31:49.000 I don't either.
00:31:51.000 I don't want a Black History Month. 1.00
00:31:54.000 Black history is American history. 0.89
00:31:56.000 How are we going to get rid of racism and stop talking about it? 0.89
00:32:02.000 I'm going to stop calling you a white man.
00:32:06.000 Yeah. 0.97
00:32:06.000 And I'm going to ask you to stop calling me a black man. 0.97
00:32:11.000 As a famous prosecutor would say, I rest my case.
00:32:17.000 Charlie, both my husband and I don't recognize Black History Month.
00:32:20.000 All nationalities have been mistreated. 0.99
00:32:22.000 The Irish Calent so ridiculous. 0.99
00:32:23.000 Gay Pride Month, not necessary. 0.99
00:32:25.000 Have you seen what they do at these parades? 1.00
00:32:26.000 Disgusting. 0.97
00:32:27.000 Recognize people for their accomplishments and kindness, not their skin or sexual preferences. 0.98
00:32:31.000 Debbie, you are a wise person.
00:32:33.000 God bless you.
00:32:34.000 Someone says, Charlie, I have a PhD in monetary economics.
00:32:37.000 It's difficult for me to watch you talk about modern monetary theory.
00:32:41.000 I don't believe the Fed uses the word in the context of monetary policy.
00:32:45.000 Here's what I believe are the big three: maintaining on its bloated balance sheet and extraordinary amounts of treasury obligations and debts.
00:32:50.000 I agree with that.
00:32:51.000 Special credit facilities that allow the Fed to directly intervene as a lender in areas of liquidity.
00:32:55.000 I agree with that.
00:32:56.000 Permanently living off treasury debts north of $30 trillion in growing by the day, as far as I can tell.
00:33:00.000 What you call modern monetary theory is what the Fed labels as the normalization of monetary theory and revolves around the three things I've identified above.
00:33:08.000 This is not the end of the story.
00:33:08.000 Did I mention that several months ago?
00:33:09.000 The Fed issued a policy paper expressing its commitment to implementing ESG, but that's for another day.
00:33:14.000 I don't disagree with a lot of that.
00:33:15.000 It's more semantic disagreement than actual policy disagreement.
00:33:19.000 By the way, the Fed has not published their balance sheets.
00:33:22.000 Once M3 began, post-08, we do not know the amount of dollar bills in circulation.
00:33:27.000 We have an approximation, but we do, there's something like 60% of all dollar bills ever created were created in the last 18 months.
00:33:34.000 Blake can get that exact number, but it's an extraordinary figure.
00:33:39.000 Thanks so much for listening, everybody.
00:33:40.000 Email me your thoughts as always, freedom at charliekirk.com.
00:33:44.000 Thank you so much for listening, and God bless.
00:33:48.000 For more on many of these stories and news you can trust, go to CharlieKirk.com.