despite the indisputable historical facts, the problem of full recognition of the crimes of white australians against aborigines has not been resolved so far. the why here the economy is on the brink. now our economy is what are the and the of the world president biden, during his at 2024 stated the union said under his policies, the american economy is literally the energy of the world. what would the cost of every day items consumed by americans as a by 18 percent? since the day he took office for the economic data support president, by the way, i know he was it on this edition a story. we're going to discuss the factors which are contributing to this rise, and if it is fair to put the blame on present 5, let's get started. the

president joe biden has to obstacles standing in his way of re election. his failure at the border and the crippling inflation caused by his self termed body nomics agenda that's by nomics. now central banks around the world are lowering borrowing cost as a global inflation eases for most emerging economies. yup. with most americans paying more for everything they consume on a daily basis and interest rates at a 23 year high. a con was baffled as to why the american economy is not even in a recession. now inflation, it's still at 1.4 percent the month bite and took office and then sky rocketed 9 point one percent of june of 2022 all before falling to 3 percent a year later. but it has been stuck near the still elevated rate since the president's critics have also done this phenomenon by the inflation. now,

record interest rates sitting at about 5 percent. the economy has come to a standstill. inflation is still too high, a further progress in bringing it down. it is not assured and the path forward is uncertain. we're fully committed to returning inflation to our 2 percent goal. restoring price stability is essential to achieve a sustainably strong labor market that benefits all federal reserve chairman drone . powell claims recent high inflation hasn't made it less likely. we will see interest rates cut in the coming few weeks and months or restrict the recent data have clearly not given us greater confidence and instead indicate that it's likely to take longer than expected to achieve that confidence. and initially the fed had predicted 3 rate cuts for 2024, but the fed was to see inflation lower to 2 percent before they make any more cap of reducing rates too soon or too much could result in a reversal of the progress we've seen on inflation and ultimately require even

tighter policy to get inflation back to 2 percent. without those cuts, mortgage rates or record highs and getting a loan can feel almost impossible. developers are holding new construction. well, business at apartment building sustained, empty. meanwhile, food, groceries, gas, rent, and every other day to day items continue to skyrocket, making only a new home and even having children so out of reach for some, making the american dream even more out of reach. meanwhile, there's a legal immigrants are giving luxury contents, credit cards for centrals and free education, our public school system without paying taxes, subsidies like washington dc are now allowing those illegally in the country to vote in elections. well, let's discuss joining us now. our political commentator and radio host, garland nixon and tax attorney and chairman of the american for, for our taxation. steve, hey, thank you so much for joining. welcome to the show. today. i wanna serve you, steve, on this one because inflation continues to be

a big problem in the us. do you think it's fair to blame all of it? i'm president biden. a lot of it, not all of it. i mean, i heard the congress somewhat accountable as well, because even though there is been removed by many republican members and not very many, but the freedom congress primarily to reduce spending, there really hasn't been any appetite to bring spending down. and then you see that things are being passed through congress to continuation yes, it's less than the president would have liked, but it's still there. but i think you have to look at this great increase in spending federal spending in the debt as a large reason. and you've got people paying on an average $12000.00 a year or more. they're having to finance things than they were 4 years ago. you've got prices up in a lot of items, hundreds of items by over 50 percent. some of the price is

a didn't go up. there are fewer of the same. ok, you're or it goes in the package and there were before shrink. you know what i said, right? yeah. so what you got is a situation where i see a lot of it's coming from the top from the president, but i think we have to spread the blame he fully around because you've got a lot of people who are participating in what i believe is going to be your race to the, the cliff and over the clip. well, that's the thing, darling. do you think a lot of people actually realize this is happening, or we can say inflation sir, do you think they're actually noticing it? because it's just a few pennies here. a few pities here, where do you think people realize that inflation is really taking a large impact, like you said, $10.00 to $14000.00 annually out of their normal household budget? absolutely, because you know, a most friends and neighbors that is the, the, that is the most significant issue that i hear, discuss the cost of things, the price of common goods that they need, you know, household goods of fuel,

etc. so i think that that is a, it is significant to people. i think that what we're seeing is with abiding administration and administration that focuses everything on their crazy world hid gemini plan to, you know, contain china rush or whoever, in that part of what we're looking at is backlash from that, whether it's fuel prices, whether there's issues with china, rather than focusing on how they can make life better for the american people, they're just spending money on the weapons taking actions that are detrimental to prices at home. so you would obviously advocate for more policies here in united states centrally. but is that kind of a pipe dream? do you actually see democrats or republicans actually putting money back into the american economy? when it's so much easier to spend at abroad? what would the fact of the matter is if we're honest, they have completely abandoned the american economy, the ruling elite, or at this point have, i mean, politically, ideologically, or not a line with their constituents in particular, i would say more. so the democratic party then the republican party as a whole and,

and the, and the element of the republican party that is aligned with abiding administration . they have no focus whatsoever on the needs of the american people. and i think there's going to be some significant prices to pay for the that's gone next november. well, that's the thing. stay where the worry all we are an election year. and as you talked about, the latest budget bill as up to more than one trillion dollars being added to the us debt, it's been passed by congress. do you think us congress actually knows or even cares about the inflation issue besides just a campaign speech r r, i will tell you what i believe in girl. and mentioned this is the leads. you know, this, the payments are not famous, but again, for most perhaps recipes and poll showing that i'll be a lead switch. he defined, i believe, is making over 850000 from one of 8 universities living in the metropolitan center . they routinely. yeah. in the poll, like 60 some odd percent, it's a politically active ones. it's ok to cheat an election. and the reason behind this

is because they know better than we do. they're the ones that are revising people because people like you, people like garland people like me. we're just not smart enough because if we were smart enough, we wouldn't question anything they do because it's all being done for us. so i think it grows actually right. the big problem, and it's not even talked about which is funny, but a lot of the people in biasing members have cargurus or advocates of what's called moder monetary theory. under modern monetary theory, which actually was helped in the early 19 hundreds data sets don't matter. as long as you spend money for infrastructure and things and taxes are only used to control inflation. so you've got a lot of these, a leads and they're advising members that are telling them don't worry about the definition. it's ok. don't worry about it. but you see the interest rates going up

to finance the data says you see a huge shift down in the number of foreign countries that are willing to bet on the us by buying long term debt. we're becoming a situation where the bad thing is forcing all of us individuals to compete with government bonds for finance. and, you know, obviously government pots are kind of be in a much better rate because they're supposedly guarantee with everything. okay. and steve just brought my my next part of this because what role is the fed playing in everything that's going on right now in house, in helping to give us remedies to actually tampered down inflation? we'll see the problem is the say it only has one tool. you know, it has 11 tool for very, very complicated problem. they can raise and lower interest market. obviously your printer, that's the total energy while they are. yeah. unfortunately, print money. they don't even need that anymore. they just need a keyboard. you're just putting a, you know, put a, a period and lots of zeros behind it. but i think what we're looking at also is

what the government is spending on. you know, if the government actually, let's say they build, they put money in the infrastructure of schools, things like that. at least you get a multiplier effect. you get a better educated workforce, you know, you're getting right, but you can transport uh, equipment with better railroad. but when you only spend it on military, like they did one, and there was a lot of the american about exactly what the problem is when you make military products you can store, or you can blow them up. they are, they are inherently inflationary. so even the spinning they're doing though, they're claiming that it's going to create jobs, it is inherently inflationary. and might i add, if it were going to create jobs, which it isn't to the jobs wouldn't be in the future because the military industrial complex does not have the ability to produce the things that they're purchasing a meaning in the immediacy. so the money goes into their accounts and they say, i will get to this stuff in a couple years. meanwhile, we'll keep this money and buy back our own stocks or something like that. well, once again, it's just circling back to the selves the,

that's the problem with all of this. it's like, if you're the new, the elite that we were talking about, they are living in a whole different world. and i think what most people are having to do so therefore, do they have a real clue that this is going and do you actually the fed so that they were gonna actually cut 3 or 3 times this to your now they're saying they're not using a rate cut of the federal funds would actually help or hurt inflation, considering where we're at today. i think it would have a limited effect. very limited effect. depends on the truck. but i think one of the big problems that's confused a bad, but i think it's fairly simple. is that the reason why we haven't had it in place in which they were all predicting, you know, why it is because consumer spending has been so high. you've got record, record credit card. yeah. you've got record delinquencies, you're running out of that stimulus. i mean, if, if people stop buying things, you're going to see a large moves. they turn in inflation because companies will lay people off. and

you will have other people having harder time borrowing money to become more productive, which they are now is that the only way they can compete is make coming more productive a care finances now because of the rates. so you've got a really tutoring situation. i don't know if it's gonna yet, between now and november, but i think the credit card spending speaking. yeah, that's the primary. yep. it is. and you're very card on that one, but the, the credit card does occur. how much can be fed. there's not like a red line of the credit card companies are kind of people off. there's now so many great government programs that you don't work for this credit card will help you get this. other one is data part of the issue, and have we seen this before and histories? well, what you're saying underlines a structural problem in our economy. the structural prop problem is we the industrialized and we financial lives. so now the money is made off of complex financial tools that are invented on wall street. it's made off with our economy

runs off the debt, not off of people going into uh to work making something. so the question is always been, how long can we can keep building that? and i might add a, we have a real estate commercial real estate bomb. we're sitting right here in washington dc. there are empty buildings all around. this thing is waiting to below. and when that does, of course, you know, the government is going to bail out all of those people because it doesn't bill out the little guys. only the rich people in fact, maybe that's why they're so happy and comfortable and protecting the by the administrator going to protect each other. okay, i want to take a break because when we come back, we're going to look at why america and other more developed countries are continuing to see this inflation grow. well, it seems the emerging countries to get a better handle on the issue. the

french president, the manual look round, says he's advocating strategic ambiguity when it comes to the ukraine. this includes sending western military personnel to fight for ts. this is not strategic ambiguity, but rather strategic confusion. the 1941 with the nazis health relation, ultram nationalist, the use dashes, the claim, the independent state of croatia. shortly on the seizing power. they build the scene of us concentration camp a place associated with the worst atrocities committed in yugoslavia during will go to use dash is use the cam system to isolate and exterminate subs, roma, jews, and other non catholic minorities and political opponents of the fascist regime conditions in the scene of us campbell, who renders the gods tortured to arise and the prisoners they send in the concentration camps. so most of them died 6 was

incredible genocide. the welcome back. i want to continue this discussion on the current economic state of america and the impact it will have on biden's bid for a 2nd term and bringing out because, or comedy or steve gil, along side political commentator and host radio has carla nixon and tax attorney and chairman, americans preferred taxation. steve hays, welcome to the party, steve gail, you know what i want to go with something garland was talking around the last segment, real estate inflation in real estate in the fed saying that they're not going to cut that. they're not looking to cut it cutting, give it another to cut this year. what problem is it right now? do you think, how much of an impact does it have? the fact that our buildings are empty, per real estate is storing. but who is by well, 1st of all, the guidelines. exactly right. it is a ticking time bomb, you know,

when cold except people, how people haven't come back. and companies have move forward with less people which means less space to fail. the desire to have a lot more of those big office buildings and downtowns with a lot of people who are working remote. you've also seen the impact uh, in post cobra's and of, of the by nomics, of, of inflation. the small businesses, they're in the strict shopping centers in suburban and rural america. they're closing their doors. even big box retailers are closing their door. so it's, it's a commercial real estate problem is an office real estate problem. and as you mentioned with volumes as breaks it's, it's having a big impact on people trying to buy a home or, or even pay rent. it is ever pointed out in the last segment, the people making these decisions in washington. they're not driving cars and seeing, you know, gas prices bumps back up above $4.00 a gallon when it was a $1.85, they're using the metro. they're not a family having to go to soccer practice and fill up a couple of times a week. and our installation numbers are artificially low because they're not

counting food and fuel. the people in washington saying that the food prices aren't bad. they're not shopping for groceries. does anybody have going shopping? you're getting half a car for what they used to get a full cards. they're paying more for bread and eggs and everything else. and yet they're telling us inflation isn't really a problem. we just saw g d, p numbers come in a full points less than what they expected, receive inflation numbers, which again, they're artificially holding down be lower. even though they told us 1st there was no inflation then then that they controlled it. now they're just saying, wait is gonna have to deal with great another numbers district that we can't trust to be accurate. manipulated again, i'm wondering if there's any numbers that come out of politics these days that we can that being said vitamins, there's a came out as a guest, what inflation is slowing here in the united states. but it doesn't seem, prices are going down, isn't that a good sign that what the white house is feeding isn't the truth. yeah. and it's it, i think we're at a point now where the people on the street are basically trusting what they see.

you know, the time over what they used to be tightly the times when the government could say, you know, okay, well this is good or this is bad and people go along with it are far behind us, the trust and the government is, is, is gone. and so i don't hear people saying, well the government said this or that i hear people say let us was $0.99. now it's $299.00. they're looking at solid things because they have to buy and they got $3.00 kids and a mini van that they got to put food and gas in. and so they're going by what they see here in seo on a day to day basis. they know how much money they're making and they know what's left if anything, after they get that. in fact, i would argue that it makes people angry when the government tells them that everything's okay and they know that they're hurting. they know they're being head okay, in a way that's almost good news cuz i do like the fact that people are paying attention not necessarily taking the government's words straight for what they say. but steven, you know, effect inflation is usually felt most by the middle. and lower class can americans continue to keep up with this rising pace when it comes to the cost of goods?

at what point do we see that red line of enough is enough? i think for starting to see of them. this incredible increase in credit card debt you're talking about, as i said in the last segment, you can see in a lot more defaults, you're going to see people unable to even start making the minimum payments at this point. and when that happens, you have it down there. part of behind is the psychology. i better buy it today because it's got to be a lot more in 6 months. okay. we're thinking like the why am our republic, you know, when money was devaluing every day. but it's going to come to an end because i like government, they can't to prep more money to pay their bills. well, as it comes either out of your income, they have to reduce something else. you know, gardens is taken into soccer practice. some of those things are going to be cut back because they only have so many choices. and that's going to happen here,

like i talk about the policy of washington is usually being made by people who haven't had a job since high school. when they were babies setting or more lines in the private sector, these are people is garlan pointed out in steve pointed out who's been largely protected or did they get paid during cobra with nobody else? no. yes. how are they getting paid regardless? yes for oh, they don't care. so vacation, probably going to get paid. well, that's the thing that these people are making some decisions and they're going to get paid. but there's also the impact that's going on around the world. and steve, i know how garland feels about this. we, we just give us a little taste of his opinion. i got to ask you, what do you feel like the impact does of, from america and as rising cost me a place that we're having on other countries. it doesn't seem to be reducing the amount of aid us is given to other countries. all the, not the only thing that's producing is here at home. well it and sadly we're borrowing billions and billions from china and then spending that money on stuff we

buy from china. we're borrowing it from them and they're giving them back the money . when i was working for the, for the us government, us trade representative's office, we were working on that. the expanding trade draft caribbean basin in south and central america. and those countries would say very clearly when the us sneezes we catch pneumonia. and so when the us economy has, has a problem, the rest of the world suffers and suffers dramatically. and there are huge red flag warnings that the, during the next several months things were going to get much worse, rather than better as our inflation numbers go up. as we continue to stand, as stephen pointed out, money, we don't have putting it on the, on the credit card. american people are keeping pace with what they need to buy by putting it on the credit card. and they're paying 18 to 15 percent interest rate on that money. there is a huge crisis coming there and gas prices are going to go up. the bind administration is talking about releasing what level we have left in our strategic

petroleum reserve to try and buy some lower gas prices as we have just september and october. yeah, that made marginally move. the price is down like they did last election year. but the reality is those prices will remain high and on like everything else, people drive around the town. basically those gas prices on every corner. they know the difference in a buck, $85.00 and $4.00 oh $9.00. and they're a big size on every corner that divides administration cannot. hi. well, it's interesting because i feel like post append to make a st brought up. you know, cove in the smaller countries, we're actually better at guess financing. and that's the point that we make stupid decisions here in the country all the time about it. you know, they make better decisions than the united states to the u. k. to france. does this mean that they have handled an economic that can handle that economic crisis just because they're so small? well, and i think part of it is it, they're, they're, they're working to get out from under the u. s. umbrella, which has been, which has been economically predatory, which has been the math, etc. go into their countries,

leave them in giant dead holes and they're working to get out from under that debt . so i think that's one of the things that's working on their behalf. i do think that tony blinking is in china right now and there's another disaster divided ministration. are always doing something crazy. he's going to go there infuriate the chinese and they'll, you know, by sanctioning their banks or something. something will happen in return that will hurt the american people. the thing you remember about that when we talk about that, there's one thing to remember. we talk about owing debt. but there are people who, the, who finance the debt, the people who we owe the debt to. those are the people that are financing to buy and administration. so they're thrilled with this debt for all of the anger that the working class talks about with that the people who are financing the politicians don't want to see a change because that's, that's how the on that side of it won't take care of that, you know, steven, do you believe in america based on what we're doing right now is on a crash course for recession? and when do you think we could see that actually physically occurring in the united

states, or i think they're going to keep stimulating the economy through the election in every way they can. i mean, we're looking at, i mean, it was predicted it would be by now earlier in that i don't know that it's the only reason that i think the credible increase in credit card spending yourself to offset that. i think sometime in the 1st quarter of next year we're going to see you're a pretty heavy cut back. you know, a lot of things in this economy. i mean, st pointed out as the g d p is down. but you know, it's hard to predict because when you get free money, you delay the inevitable. and that's what they're doing. you're giving free money, you're getting benefits, or adding programs and disperses. but i think that, you know, mary, go round has got to stop. okay. i think it's going to be in the 1st quarter of next year. so the steve, gail, i gotta give you the last 4 on the she mentioned that they're going to release what little they have left our oil reserves to try to bring the gas prices down close to

the election. is there anything else that will give us a fake sense of stability and calmness in regards to the economic situation? united states that we can expect to happen in the next 9 months? i think for the most part, everything is already baked in. you're not going to see a dramatic reduction in, in oil prices, gas prices, inflation g d b is not going to go up dramatically and is gone and mentioned. we're over it with a anthony blink and threatening china and their banking industry for us doing or for them doing business with russia. we're threatening india that if they keep buying russian oil, we're going to put sanctions on them. panel drive up gas prices. everything divide with those ration is doing is making things worse. and just by an example, g, d, p in russia is about 2.6. ours is 1.6, there. inflation is about 7, ours is reality. real terms about the same and that's with them having to face sanctions. we're destroying the world economy in addition to our own. and it's

going to get worse rather than better. and steve is right, the real, she's going to drop right after the electric. we're going to pay the price for the state means i'm trying to cover up a bad bike. nomics actually is. well, there's more common sense means focusing on this page, say, then down the street at pennsylvania, 1600 pennsylvania avenue. i wanna thank you so much for joining our panel. garland next and steve gill and steve hayes. i think it is foolish to say the economy cannot be predicted. granted, a crisis can always have an effect, but in modern times, the responsible action would be to be prepared rather than soley reactionary. if we have learned anything over the past few years, when it seems we have overcome one crisis, there's going to be another one just around the corner. the difference is if a politician uses the crisis at the moment for their own benefit printing and releasing a large amount of money with little accountability to the public. might when you vote in the short term, but creates an economic mess, which sadly is felt longer by the people and it presents terminal i've got now

here's into spinning your 360 view for watching the water is part of the, the employee was posted. isn't the, the place you of us and that in the word part, is it something deeper, more complex might be present? let's stop without cases. let's go out of the as

the, the, what day? adoption the tv. if it's the thing, you kind of fucked it couldn't move them. so facade, indeed, and therefore the window at assuming that the to look into in a minute. the title is the dimensions of the scene, send the most of the video to be the motion of the

the, the, the

the, [000:00:00;00] the hello and welcome to cross stock. were all things are considered. i'm peter live out french president emmanuel, the ground says he's advocating strategic ambiguity when it comes to ukraine. this includes funding western military personnel to fight for kids. this is not strategic ambiguity, but rather strategic confusion. the