In part two of our CNN excoriation of the network, we take on the idea that we are just a white Christian America, and how CNN is trying to delegitimize the separation of church and state.
00:07:39.600But CNN is saying that we are just a white Christian America looking, white Christian nationalist movement members looking to get rid of anyone of any other color.
00:07:53.860Again, Lord, send down your sacred asteroid to destroy us all.
00:08:00.640They went on yesterday, and we explained all of this.
00:08:03.300The article said there are three key beliefs associated with the white Christian nationalists.
00:08:08.040And belief number one was a belief that the United States was founded as a Christian nation.
00:08:13.380It took us an hour to debunk that yesterday, and they're still looking into it.
00:08:18.280They're like, oh, there's so much information here.
00:08:24.160The Constitution, they say in the article, says nothing about God, the Bible, or the Ten Commandments.
00:08:29.360And saying the U.S. was founded as a Christian nation ignores the fact that much of its initial wealth was derived from slave labor and land stolen from the Native Americans.
00:08:42.840All right, so let's just get these things down here.
00:08:47.160It was Christian America that brought oppression.
00:13:54.500We're so busy redefining history and economics, I don't think we're actually in a recession.
00:14:01.820The story of the South is one of stagnation and increasingly falling behind the rest of the nation.
00:14:09.100Aside from the few owners of large plantations, the people of the South were generally more impoverished than the people in the North.
00:14:15.860At the time of the Revolutionary War, the South had been the wealthier region by far.
00:14:20.960But their reliance upon slavery sapped the strength out of the region.
00:14:26.160As economic historians from Harvard and UC Davis explained when they were sane,
00:14:31.820From 1774 and 1860, the per annum growth rates for New England, 1.26%, the Middle Atlantic, 1.08%, and the South's 0.31%.
00:14:47.520By 1860, the real product per capita in the South was 40 points behind New England.
00:14:55.340A Harvard economic study identified that even today there exists a significant negative relationship between past slave use and current economic performance.
00:15:05.780In fact, all forms of slavery were detrimental to economic development.
00:18:06.220So now, today, we continue with our sermon.
00:18:11.160We just talked to you a little bit about, you know, the three things that the CNN was pointing out that shows that we just want a resurgence of the Old South.
00:18:24.400And that we just don't understand America's true history.
00:18:28.440For instance, the third point was America's land was stolen from Native Americans.
00:18:33.280Ministers and religious communities were at the forefront in treating Native tribes with respect and honoring land deals.
00:18:43.800The religious pilgrims strictly only occupied land lawfully purchased.
00:18:49.440This land was bought at a price agreed upon by the Native tribes in founding Plymouth in 1620.
00:18:58.100At the start of King Philip's War in 1675, Plymouth Governor Joshua Winslow explained,
00:19:04.080I think I can clearly say that before these present troubles broke out, the English did not possess one foot of land in this colony that was not fairly obtained by honest purchase of the Indian proprietors.
00:19:21.500Reverend Roger Williams lawfully purchased the land lawfully purchased the land at a price agreed upon by the Native tribes in order to found New Haven in 1637.
00:19:41.600In founding Pennsylvania, and this is an incredible stat I had never heard before.
00:19:48.240William Penn, as in Pennsylvania, purchased the land from the Indians, but there was a problem.
00:19:57.240When they purchased the land from one tribe, the other tribe said, well, but they stole it from us.
00:20:04.460Parts of Pennsylvania, William Penn bought three separate times just to make sure he had secured a clear title from each tribe that claimed it had been stolen from them by another Indian tribe.
00:20:30.400Remember the 1888 wall map of Jamestown versus the pilgrims.
00:20:35.300I showed this to you on a couple of TV shows, and I've talked about it on radio throughout the Northeast and most of early America.
00:20:43.340The land was purchased by the colonists in the South.
00:20:49.320But because the land was bought, the longest lasting treaty in American history between whites and Indians was the treaties between the pilgrims and the Indians.
00:21:06.860If you look at that map I showed you, it shows Jamestown is founded on slavery.
00:21:13.280It becomes an absolute nightmare and everything goes sour from there.
00:21:19.460This is the same argument that we had before the Civil War.
00:21:23.020Were we a country founded in slavery with Jamestown, or are we a Christian nation that come from the pilgrims that tried to do the things right?
00:21:36.480Well, guess which one I think we are, and guess which one I think we should be.
00:21:42.040White Christian nationalists, they say, CNN, belief number two.
00:21:50.020They write, videos from the January 6th attack show a chaotic, tear gas-soaked scene at the Capitol that looks more like a medieval battle.
00:22:02.000Insurrectionists punched police officers, used flagpoles and spears, and smashed officers' faces against doors while a mob chouted, fight for Trump.
00:22:14.440Nearly 140 law enforcement officers injured.
00:22:17.240The incongruity of people carrying Jesus' save signs while joining a mob whose members are pummeling police officers leads to an obvious question.
00:22:27.140How can white Christian nationalists who claim to follow Jesus, the Prince of Peace, who renounced violence in the Gospels, support violent insurrection?
00:24:21.480So the next part of the CNN article is white Christian nationalists believe in a warrior Christ.
00:24:30.620They write videos from the January 6th attack show chaotic tear gas soaked scene with capital that looked more like a medieval battle.
00:24:38.860Insurrectionists punch police officers use flagpoles of spears and smashed officers faces against doors while a mob chanted fight for Trump.
00:24:52.560The incongruity of people carrying Jesus save signs while joining the mob whose members are pummeling police officers lead to an obvious question.
00:25:00.340How can white Christian nationalists who claim to follow Jesus, the Prince of Peace, who renounced violence in the gospel, support a violent insurrection?
00:25:08.800You know, I really have a hard time for, you know, when I listen to people who will deny the gospel, deny Jesus Christ, deny even God, preach to me about what Jesus Christ in the Bible says.
00:25:22.660The problem is, they say in the article, that's because they follow a different Jesus than one depicted in the gospels, says Dumez, who is a professor of history and gender studies at Calvin University, a Christian school in Michigan.
00:25:37.540They follow the Jesus depicted in the book of Revelation, the warrior with eyes like flames of fire and a robe dipped in blood and led armies of heaven on white horses in the final triumphant battle against the forces of the Antichrist.
00:25:52.120White Christian nationalists have refashioned Jesus into a kick-butt savior who's willing to smite enemies to restore America to a Christian nation by force if necessary.
00:26:04.360That is, by the way, the last line of that is, Dumez and others say, I'd like to know who all the others are, but again, I digress.
00:26:15.140Okay, we're looking, we're refashioning Jesus into a kick-butt savior who's willing to smite enemies to restore America to a Christian nation by force.
00:26:24.100You know, I think the kick-butt Jesus might come and destroy all of us in America for the way we're living, but that's what he will do.
00:26:36.180In what church, by the way, is anyone hearing?
00:26:39.640Because remember, CNN said every Christian pastor and every faith leader is now bullied into thinking they have to preach this crap.
00:26:48.040Does anyone, anywhere, recall a recent sermon where the pastor depicted, or a stained glass window where Jesus is dressed up like Rambo with a .50 caliber bullet belt wrapped around his chest?
00:27:03.500Here's what my faith teaches, and it might be what your faith teaches, something like this.
00:27:44.160So we can, each of us, all people, I don't care what faith, religion, I don't care what color of skin, I don't care if you're a Republican, Democrat, or Independent, everyone has a right to defend themselves and their families.
00:27:59.400But to hate our enemies, even wish ill on them, on those who hate us or may hate us, is not the spirit of Christ.
00:28:09.460That is the spirit of the world, and that is the spirit of natural man.
00:28:38.960The article says in 2008 presidential election, vice presidential candidate Sarah Palin introduced a new term to the political discourse.
00:28:46.800She talked about the real America and the pro-America areas of this great nation.
00:28:51.340Since then, many conservative political candidates have used the term real Americans to draw contrast between their supporters and their opposition.
00:28:58.860Such language has been co-opted into a worldview held by not many white Christian nationalists, a nation divided between real Americans and other citizens who don't deserve the same rights, experts on white Christian nationalism say.
00:29:14.860Again, I'd like to know who the experts are.
00:29:16.740Okay, first of all, there are real Americans.
00:29:22.120I mean, let's cut through the bullcrap here because it has nothing to do with Christian faith and doctrine.
00:29:38.100It is the right to life, liberty, and property, the ability to protect those rights as your own first responder.
00:29:45.040It's a belief that there is a law of the land and that we are a land of laws and not men.
00:29:52.500Because of that, no man, no one person is above the law.
00:29:58.040The real America is an America of freedom.
00:30:01.640And those freedoms come with responsibilities.
00:30:04.640And those freedoms must never be infringed upon by the national government, nor the people with different political beliefs that live in large cities on the coast.
00:30:15.660Nor can the people in the middle of the country take away the rights from the people who live in the large cities on the coast.
00:30:24.140This is the only thing required to be an American.
00:30:29.800Your race, your religion, your station in life, your education, where you live, your belief in lower or higher taxes, does not make you an American.
00:30:43.380If you're a Democrat, you can be a real American.
00:30:46.480If you're a Republican, Independent, you can be a real American.
00:30:50.180The real American believes truly in one thing.
00:30:55.200And we can disagree on everything else.
00:30:59.160You believe that all men are created equal and endowed by a creator with certain inalienable rights, life, liberty, and the pursuit of happiness.
00:31:09.080And governments are instituted among men to protect those rights.
00:31:51.100Have you noticed that all the nations where people are flocking to America for good reasons, they come across the border, they do everything.
00:34:09.340The real America is only an America operating under its Constitution and Declaration of Independence.
00:34:17.040And I'm sure a large majority of Christians agree with the U.S. Constitution.
00:34:22.080If you don't agree with the Constitution and you want to change the Constitution, not through the regular constitutional process, because you can amend it, you don't want guns, amend the Constitution.
00:34:37.260If you want to go outside of the Constitution, destroy it or change it in any other means, then really, by definition, you cannot be not a real American.
00:34:49.500You cannot be an American because you are calling for things that the American system does not do.
00:34:58.200There are clear ways to change it if you don't like it or you think it's a mistake, but you don't like those rules.
00:35:06.440We're just asking for those rules to apply equally to everyone and for those rules to apply.
00:35:15.680This entire article is nothing more than assault on people of faith, but it's dressed up with words, white and nationalism, purely to give it a January 6th spin.
00:41:33.560If you're smart, and I know you are, you're concerned about where your money is going, how your money is being used, how you're spending every month, what you're saving.
00:41:42.560American Financing understands, and they are here to help you.
00:43:23.380Hello America, welcome to the Glenn Beck Program.
00:43:28.140There's a lot going on this week, huge week.
00:43:31.940We found out that the, we have confirmation now that the United States, our government, was working hand in hand and coordinating the silencing of people about COVID online, working with these giant corporations to curb freedom of speech.
00:43:52.280We also have 17 now proven incidences where we know that Joe Biden was intimately involved in his son's business.
00:44:03.300We also had the proof now, two consecutive months of contraction of our economy.
00:44:10.800We are in a recession now, officially.
00:44:16.580And we just got our inflation numbers.
00:56:47.460Kudlow said, look, if Nancy Pelosi, Speaker of the House of Representatives, wants to visit a country and we have business with that country, high tech business, chip business, then she should go.
00:57:00.180And if they don't like it in Beijing, they don't like it.
00:57:04.000But, you know, to power before them, obviously, this is a test.
00:58:56.400And the only way that each successive generation can hold on to it and and and live a free life and and live the the will and the the choices that God gave them is that they have to understand and learn from the past.
00:59:30.320And if you have children, grandchildren, if you live next door to children, if you just want to give free stuff to children, not by pulling up in the sidewalk and saying, hey, kid, want a history book?
00:59:41.460But I mean, we have to do everything we can to get true history into their hands.
01:00:39.140Bill, as a as a former teacher of high school kids and as a guy who really is a linguist and a guy who uses the language and knows the importance of words.
01:01:09.140There is a story that comes out today that the AP style guide is now adopting the LGBTQ two plus I ideology and they are.
01:01:25.920You can no longer use the word transgender.
01:01:28.200It's instead a person whose gender identity does not match their sex assigned at birth.
01:01:34.780They are saying now you have to avoid terms like biological sex, male or female hormones or sex change.
01:01:42.940And I want to ask you, we are redefining all these words, but more importantly, something like the AP style guide.
01:01:52.860Can you tell me why that's so important to America?
01:01:58.220If they change things, what else do they change?
01:02:01.760Well, look, the Associated Press is a woke liberal organization.
01:02:25.820The Associated Press is not a news agency anymore in the sense that it looks for the truth or it wants to present what's really happening in this country.
01:02:34.820Look, I taught high school, as you pointed out, and I felt very sorry for the gay kids and the kids who didn't have a very strong gender identity because they were bullied and kicked around.
01:02:47.500And I protected them as much as I could while I was teaching.
01:02:51.660And I know what a terrible, terrible problem that is.
01:02:55.680And I think all Americans should understand that we need to protect these people.
01:03:28.140But we have to make sure that we are paying attention to everyone and especially the bad cases like it has been in the past for homosexuals.
01:03:38.080I'm not sure that it is that way anymore.
01:03:39.860I think it's become cool to be something different.
01:03:43.500Bill, I'm sorry, we're out of time, but thank you so much for joining us today.
01:04:06.620If you've been listening to me for some time or watching me for any length of time, one of the things you probably know about me is I believe that good people, I believe that individuals can make a difference in the world.
01:04:15.500And if if we just do what we're supposed to do, that collectively changes everything.
01:04:23.500And it might seem like it's too small to make a difference, that you're too small to make a difference.
01:04:28.460But the results are gigantic on the other side.
01:04:31.840If you haven't heard of the Tunnel to Towers Foundation, I want you to take a look at that today.
01:04:37.000Just don't take my word for it, but I want you to actually look at them, look at their charitable rating, et cetera, et cetera.
01:04:43.680This is, I think, one of the greatest charitable organizations we have in this country.
01:04:49.080They've been helping since 9-11, first responders, and then they started helping veterans and their families.
01:04:55.320When somebody doesn't come home or they're severely injured, Tunnel to Towers is there.
01:05:01.120They pay the mortgages, build smart homes for heroes who need them.
01:05:05.100Their service is desperately needed in the community of those whom we should and do honor most in society.
01:05:13.680I'm asking you today to donate $11 a month at T2T.org.
01:07:49.960And it's also, there was this attempt to create this AAPL, Asian American Pacific, I don't know what the L stands for, coalition, where you had people like Tammy Duckworth, who I believe is of Asian descent, and basically have this lie that Chinese and Japanese and people from India and people from the Philippines and Laos, they're all interchangeable.
01:08:14.780They should all vote and, you know, act the same, even though for millennia, they've been at war.
01:08:21.460And to this day, many of these countries, despite each other, you know, I was, I used to live in Brooklyn until I escaped last August.
01:08:27.820And I was at a dinner party a few years ago, and it turned out everyone was from a different country, their families.
01:08:33.980So me being me, we went around the table and said, who did our ancestors hate?
01:08:39.060And someone said, well, we didn't hate anyone.
01:08:41.620And I said, well, who were your neighbors?
01:08:49.720So, but this is just, but this is a complete American university fantasy that people based on geography are somehow can be, even look at America itself.
01:09:08.060So it's really, we have to laugh, but it's a very cynical and disingenuous attempt to have this kind of intersectionality, which is just.
01:09:19.100And quite frankly, it is the most racist thing as well.
01:09:25.140I mean, when, when you have a, because it is, it's a group of white people who think they know better and they can be the defenders and say, you know, Filipino is racist.
01:09:43.540But this is where American imperialism kind of started with McKinley in the Philippines and Taft, I think, was governor of the Philippines.
01:09:51.100And progressivism is domesticate imperialism.
01:09:55.440They ran out of other countries to invade because that became taboo.
01:09:58.840And now you have to have New York City, L.A. and Washington basically invade and govern who they regard in America as their inferiors.
01:10:07.580And it's usually rural whites, and it's also people who aren't following the progressive agenda.
01:10:14.140And the thing is, it's become so transparent that it just necessitates eye rolls and they're just grasping at straws, especially as you've seen with the election of Congresswoman Flores, who was the first Mexican-born congresswoman.
01:10:29.400You know, the Hispanics are jumping off this train.
01:10:31.400They're like, what are you, what are you talking about?
01:11:46.220But when working with the federal government, they cannot.
01:11:49.020I disagree, and we can go back to kind of Wilson again, because I think it's unacceptable and outrageous, don't get me wrong.
01:12:00.220But in terms of a lawsuit, I'm sure in their terms of service, they all say, we can boot you off at any time for any reason whatsoever.
01:12:07.880So to try to kind of demonstrate that you don't have the right to do this, I think it's going to be very hard to prove.
01:12:15.580I think Twitter can very easily claim, well, this was in consultation with the government, but we're the ones who made the decision.
01:12:22.580And I think the heavy-handedness, you know, they would like us to memory hold this, but the heavy-handedness with which they censored people,
01:12:31.840including the New York Post right before the election, Glenn, as you remember, when they were reporting on Hunter's laptop and 50 intelligence agents who had no accountability for lying,
01:12:44.320because they said that they were all the symbols, classic symbols of Russian disinformation, which they still never said what those were.
01:12:50.900And there clearly weren't none, because this was just a crackhead laptop.
01:12:54.860I think the idea that the law is going to hold these agents, giant corporations, accountable, the law works in their favor.
01:14:41.240What do you think this means for stability in the future of our world?
01:14:48.420It's not just getting in bed with Russia.
01:14:50.400Germany has, in the very last election, gone from having a two-major party system to having a three-major party system.
01:14:58.320The Greens have achieved parity with the Social Democrats, which have, historically, since World War II, been the center-left party in Germany.
01:15:06.180And now that the Greens are in power, this is the kind of thing that happens.
01:15:10.840When you want to have, you know, not be dependent on things like gas or whatever, you're going to have problems producing electricity.
01:15:20.480You're going to have problems producing energy.
01:15:27.480Public buildings won't have heatings from April to September.
01:15:31.140They're banning—this is in the city of Hanover.
01:15:34.160They're banning air conditioners, heaters, and radiators for people in their homes.
01:15:39.040And, you know, this is what the German people voted for.
01:15:42.580So even if—when things are resolved with Putin, and hopefully that's as quickly as possible, this is going to continue to be a problem.
01:15:49.940And that Green New Deal, which is not going away, which is just on pause, people should be very concerned about what that's going to look like in practice here.
01:15:57.500You know, I was just watching this guy who is—he's got the hydrogen house.
01:16:06.120He used to work for NASA, and he makes hydrogen from solar power.
01:16:10.220And I have been a big believer in hydrogen for a long time.
01:16:44.660But, you know, I was thinking, you know what, maybe I should call this guy and see if I can build a hydrogen, you know, plant myself, because he's made it for his house.
01:16:59.200And I thought, well, no, because, you know, the government is eventually going to say that I'm committing some crime because of it, because they'll deem hydrogen is whatever the problem is.
01:17:19.720Again, if carbon dioxide, they're trying to regulate that as a pollutant, which is something that every plant produces, um, it, at a certain point, their use of language is simply a mechanism to have power and not, they don't use language to, uh, uh, inform, they use it to manipulate.
01:17:37.600Like, there's no way that if you're trying to create an energy plant of any kind, you're not going to be subject to nightmarish regulations and possibly felonies.
01:38:21.640That trust has been completely eroded.
01:38:23.140And that is because of the lack of accountability at those senior levels.
01:38:25.840Yeah, it's not that, I mean, you know, it's not even that I don't trust this commander in chief to know what the best thing to do is along with the leadership.
01:38:36.020But it's also that they, I mean, I don't trust that they're fighting the right fights, that he will pick the right fights or fight the right fights in the right way and the righteous fights.
01:38:48.680I mean, I just don't know what we stand for right now, and they're cleaning out the military, and so many people are leaving because of the vaccines, and then they're cleaning out the military, you know, doing a political purge.
01:39:08.440We've been divided before, which gives me hope, because we did come back together after the Civil War.
01:39:13.000So I do look at that case to give me a little bit of hope, but many cases were manipulated into that division by the very entities who directly benefit from it, those politicians and tech companies we talked about.
01:39:24.440But it's so bad that if one side, and quote-unquote side, says that we need to secure our borders, the other side has to take the opposite position of that.
01:39:34.140They can't possibly find any common ground with the other, quote-unquote, side.
01:39:39.220We've lost all logic and common sense, and interestingly enough that George Marshall and Carl von Klausowitz both thought that common sense was the most important attribute of any leader, and we have completely lost that across our politics and our discourse in this country, unfortunately.
01:39:55.200We're talking to Jack Carr, the author of The Terminal List, which is a book.
01:40:37.820Time passes quickly, and in case you haven't noticed, the seasons build up and turn into years, and the years build up and turn into decades.
01:40:46.340Before you know it, you've gone from a college kid to a spouse to a spouse to a parent to a parent to a homeowner, and a combination of all of those things.
01:41:14.320But you need to see if they can help you save even more than you do already.
01:41:19.400They're America's home for home loans.
01:41:21.840And for over 20 years, they've been helping people just like you save a ton of money, refinancing, consolidation, or even just accessing your home's equity.
01:42:05.920I really have been looking forward to this conversation for a couple of weeks.
01:42:10.480Let me just ask you about Nancy Pelosi in Taiwan.
01:42:14.100We normally will send people over to countries like that and then announce the trip after we leave so you don't put yourself in this situation.
01:42:25.620Again, I don't know if it's incompetence or what, but we've been announcing it, haven't even announced a date.
01:42:33.000And now China said in today's headline it is those who play with fire get burned, and they are really threatening us.
01:42:41.200I don't think they have the capability at this time to go into Taiwan, but what do we do here, and how dangerous is this trip?
01:42:51.520Well, China has always believed that Taiwan is just a province of China.
01:42:55.060So a lot of this is back to us not being able to put ourselves in our enemies' shoes or our opponents' shoes, our adversaries' shoes, and look at the world through their perspective, and then make wise decisions based on that.
01:43:09.580We keep looking at things through this Western lens.
01:43:38.960I mean, since the 70s, really, that's been the policy.
01:43:41.120If you look all the way through the 80s, we just figure that the Taiwan-China situation will just, over time, things will settle down.
01:43:47.960Everyone will kind of join to this new, this band of nations that realizes that capitalism and free markets are the way ahead and all that sort of thing.
01:43:59.740And now we have a situation that could turn into burning all of us.
01:44:04.320But it's really because we can't look at things through our enemy's eyes.
01:44:07.380And we look at things through a four-year type of eight years for the real deep thinkers among us, maybe, where they're thinking not just decades, but they're thinking a century ahead and making moves that put them in a position of dominance in the years ahead.
01:44:26.020But they're not thinking of those election cycles.
01:44:27.900One, because they don't have to, but they're not short-sighted.
01:44:31.220We are the short-sighted ones, and we prove that time and time again to the detriment, really, not just of the United States, but of the world.
01:44:37.380And we, this is totally, I mean, at least our enemies were our enemies for a long time.
01:44:43.640We understood that, and we're still kind of moving in the same direction now.
01:44:49.900We're just flip-flopping around every four years.
01:45:29.620We have hit it good and fast, and we have a whole contingent of the American public, mostly the press and the Democrats, who refuse to even acknowledge that we've crashed the car and we're in a ditch.
01:45:43.440I don't think it's drawing too strong of an analogy to think that we are in the most dangerous times in our lifetime.
01:45:53.680I mean, I was born in 64, so I missed the Cuban Missile Crisis.
01:45:57.320But I think we are at those kinds of days where things could change in minutes.
01:46:04.100I want you to call Goldline because we are talking about the survival of our country.
01:46:08.100We're talking about the survival of our monetary system and, most importantly, the survival of you and your family.
01:46:16.640With every box of 500 of their new silver one-ounce Benjamin Franklin rounds, you're going to receive a quarter-ounce gold version of the same product for free.
01:47:44.820Glenn, I told you and your listeners about this months ago.
01:47:50.160I predicted this is what's going to happen because the group that is charged with officially declaring recessions, the National Bureau of Economic Research, or NBER, gives themselves latitude intentionally.
01:48:08.880If we can all just look at the data and go, oh, obviously this is a recession, despite all of that, we all in the financial media, in the economic predicting realm, everybody colloquially agrees that two quarters of economic contraction is a recession.
01:48:28.060Because if you have something that doesn't have a definition, people can't understand it.
01:48:33.240There's no way to create any policy around it.
01:48:35.700You can't just have something that completely has no definition.
01:48:39.680So, yes, there is latitude, and that is why I predicted, given that latitude, that they would do exactly what they are doing now.
01:48:49.560So the other thing that happened this week, so we had the announcement, we are in a recession, no matter what the White House says.
01:48:55.820And then the Fed increased the rate, 75 basis points.
01:49:09.280And at what point does this become a stall of the engine?
01:49:17.720Do we have any idea at what point it starts to get dangerous, or are we already there?
01:49:22.100So if you believe the sort of economic theory that, you know, 2%-ish is the neutral rate, that if everything expands at 2% and the Fed funds rate, 2% is their target neutral rate, then we're just around neutral right now.
01:49:40.880And it shouldn't be that much of a concern.
01:49:42.900Frankly, we had an artificially depressed set of Fed funds rates for a variety of reasons.
01:49:48.340And so bringing that back to a normalized level isn't that bad.
01:49:52.660To get down the inflation that they have caused, they probably need to bring it up a little bit more.
01:50:00.360But I do think that if we start seeing something that has what we fancy people call a 4-handle on it, where, you know, it's 4% or higher, gets out of the 3 range,
01:50:12.240then that's when you're going to start really seeing people freaking out and having a major impact on the economy.
01:50:18.600But is, I mean, I'm old enough to remember Volcker, and we had 18%, 19% interest rates.
01:50:26.060And that was just from the inflation that we had Jimmy Carter.
01:50:32.060How are we expected to bring inflation down with 2%, 4%, 5%, 10% inflation, or, I mean, 10% interest rates?
01:50:42.080Well, here's the reality is that the Fed's tools aren't going to fix some of the issues.
01:50:47.700I mean, we have a supply and demand imbalance.
01:50:50.600So unless the Fed can stop printing money and start printing oil and printing food, they're not going to fix those areas.
01:50:58.400The only thing they can do is completely jam up the economy so bad that we're in a massive recession, and then, you know, everybody's sort of hoarding their money.
01:51:06.160And that's how those supply and demand metrics come together.
01:51:08.920But they're really focused on the demand side, not the supply side.
01:51:13.220What we need to be focused on is how do we get more supply in these key areas so that we balance out that from the supply side, not the demand side.
01:51:22.440It's a Rudyard Kipling wrote a poem about 100 years ago, and the line that keeps coming to mind was, we had plenty of money, but nothing our money could buy.