Episode 246 – The Only Deflation We Are Seeing Is In Democratic Egos

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and now matt wright and
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spike cohen
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good morning good afternoon or good
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evening and welcome to the vanguard
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for spike foolish kippah cohen i am matt
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wright and together we are traversing
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the muddied waters of
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freedom
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first and foolish
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oh
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yeah first no i okay
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this week’s episodes
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it protects your neuro
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but you know what doesn’t protect your
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your
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i was trying to think of a segway here
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chuck todd is mainstream
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means well mainly mainstream media
2:31
specifically specifically
2:34
so chuck todd specifically checked out
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he has not been having a good run of it
2:39
recently
2:40
no he’s been having a bad one he’s been
2:42
having a bad one uh he is the host of
2:44
meet the press that used to be on msnbc
2:47
as we all know um and
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it was taken off of msnbc and it was
2:53
moved to nbc now which is nbc’s
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equivalent to cnn plus
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which is basically a death sentence for
3:03
a news program
3:05
just look at cnn plus
3:08
or or the the program previously known
3:11
as cnn plus rest in peace right
3:16
for cnn plus
3:18
so
3:19
while
3:20
chuck todd and meet the press was
3:23
attempting to uh stay relevant uh they
3:26
made an attempt to get an interview
3:28
which admittedly
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would have been the easiest interview
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of chuck’s life
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no question
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uh they reached out to don young
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in this
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very basic interview request he says
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hello zach who is one of
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uh don young’s aides i said i hope all
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as well i’m reaching out on behalf of
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meet the press now with chuck todd on
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nbc news now i would love to see if
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congressman don young has any
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availability to join chuck tomorrow
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friday 10th
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and friday june 10th in the 4pm eastern
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standard time hour we would love to have
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him on the program if his schedule allow
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uh would you would tomorrow in the 4 p.m
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eastern hour work for congressman young
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now this would have made sense because
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um that would have
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june 10th is don young’s birthday and
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wedding anniversary both
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you know large milestones so it would be
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good to have him
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on the show for this and this was what
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his former aide replied he replied sadly
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congressman young passed away in march
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but you all did a lovely tribute to him
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and linked the tribute done by nbc
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wow
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that’s uh
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that’s brought to you by nbc now folks
4:53
available on all on android
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and google play
4:57
google play and uh
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itunes
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we requested a man who passed away in
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march to come on
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march june
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did he say what it was about
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no they just said does he want to come
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on for an interview
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and it also happened to be
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uh don young’s birthday and wedding and
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i think it would have been his 89th
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birthday and is
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i don’t know some ungodly number for
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wedding anniversary um
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and
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wow
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that’s the kind of hard-hitting stuff
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that you can expect from cnn i’m sorry
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nbc now which by the time i mean this
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actually isn’t going to air until uh
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tuesday nbc now also might be dead
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already
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that might be gone this might be old
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news at this point and speaking of
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speaking of old news
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speaking of old news corrine jean-pierre
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uh took to the to the stage to uh
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get owned by peter ducey
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again again
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um
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and let’s just say
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that her comments did not age well
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in a
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24-hour time span so we’re gonna be
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showing you it’s a quick
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that’s a quick aging that’s like leaving
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the milk out overnight
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um
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yes
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we’re gonna show these clips we’re gonna
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show you three separate clips that are
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all part of one but we’ll break each one
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down
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uh as they are there here is clip one of
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pete ducey and karine jean-pierre
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thank you craig why do you think it is
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that 83
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of people pulled by the wall street
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journal say the economy is poor
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or not so good
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so when it comes to consumer confidence
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is what you’re talking about there we
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know that can reflect concern and
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uncertainty
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about higher prices people feel the
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effect of high prices
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when they go to the grocery store and
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they feel they’re up there against gas
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tank which the president understands uh
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very personally when he was growing up
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and understanding how uh how when prices
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elevate uh even just a bit how much that
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can hurt a family how much that can
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really affect uh uh you know someone’s
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household but the fact is we are in a
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fundamentally different place compared
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to when the president took office and
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compared to this time a year ago and so
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you know during this president during
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his spread this presidency people felt
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uncertainty uncertain about the economy
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generally but they actually felt as good
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about their personal financial situation
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as they ever have according to the
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federal reserve survey with nearly 80
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percent of adults reporting that they
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are financially comfortable so that
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matters as well but
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so
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what’s she saying here
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is that our president
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understands that when gas prices go up
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it hurts the family um and then she’s
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saying that they understand that things
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are fundamentally different than they
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were when the president took office in
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january so far so good yeah both of
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these true as well as things are
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different now than they were a year ago
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yeah gases yeah that’s gas is a dollar
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1.50 higher one thing i want to point
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out
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is the
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the the the signer the the sign language
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translator
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yeah
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i am certain
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that she is doing real signing
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however since i do not know it a lot of
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her gestures
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look to be
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the same gestures we would make in like
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middle school in high school when we
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were trying to describe sex acts that we
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didn’t have any idea what it was
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she’s describing the economy
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here’s what’s happening to you right now
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you are you’re just what the banks
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that’s what’s happening and she’s doing
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it with fort and she looks at joe biden
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has known this joe biden has known all
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about this since he was growing up
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so
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just pay attention to her because she
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just looks mad for this entire this
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entire segment um
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but i’m just going to let you know this
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does not get better kareem does not
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answer questions any better than this
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61 are saying now in this wall street
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journal pool they are generally
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pessimistic about people having an
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opportunity to achieve the american
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dream how’s that going to look on a
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bumper i guess what i’m trying to say
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peter is that we understand that people
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are feeling feeling this they’re feeling
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uh the increase of prices
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which
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with food in particular right now and
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gas that is that is something that we
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understand what we’re trying to say what
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i’m trying to say to you is that the
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economy is in a better place than it has
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been historically and so we feel here at
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this administration and other experts as
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well is that we feel that we are in a
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good position to take on inflation we
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are in a good position to really start
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really working on lowering prices we
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leave that piece to the federal reserve
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they have the monetary policies uh to
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deal with the best to have the best
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stools to make sure that we bring down
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inflation that’s the that’s the pain
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that the american family is feeling and
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so that’s what we’re saying we’re trying
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to what we’re saying is that we were in
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a different place a year ago and now we
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are in a much better place economically
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but there’s still work to do okay so
10:38
i i want to say i think i figured out
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the strategy here from the white house
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they know
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that they don’t really have any good
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news to share
10:48
and they know
10:49
that ms jean-pierre
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is not exactly the best spokesperson so
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far
10:54
so their strategy is to have a signer
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who is so animated distracting you
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who is so animated
11:03
that you just watch i did it i mean like
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we’re both politically astute people
11:07
everyone watching this is politically
11:09
astute i’m sure you’re now looking at
11:11
this and meanwhile jean-pierre is over
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there saying you know we trust the
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federal reserve they’re doing a great
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job they have the tools to fix all of
11:18
this even though they’re the ones that
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put us in this mess uh but we’re all so
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captivated by this one
11:29
our audio only listeners are like what’s
11:31
happening where is their dead air
11:34
oh it’s it’s yeah no it is it is well
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just the clapping it’s really like this
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this is so i mean we love our audio only
11:42
listeners but these are some of the
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moments where you just have to come over
11:45
to our to our our video uh platforms to
11:48
be able to to fully appreciate what’s
11:50
happening here uh but yeah no she’s
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terrible um
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you know i shouldn’t even say that
11:55
actually yes i should i think korean
11:57
jean-pierre is not good at what she does
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no but even if she was
12:02
i don’t think she’d be able to spin this
12:03
very well like you can’t spin that
12:05
everything’s going terribly and everyone
12:07
knows it’s going terribly and and she
12:09
said
12:11
when you’re sitting there near
12:13
in what march in march you had 8.5
12:16
inflation
12:17
and then in april
12:19
you had 8.3 percent inflation you’re
12:21
like okay we’ve peaked we’re gonna start
12:22
heading back down
12:25
it is
12:26
that point two percent takes a lot of
12:28
cajones for you to stand up there and
12:30
say we are in a much better place
12:32
economically and our economy is coming
12:34
roaring back and we are gonna start
12:36
seeing it go down because the people in
12:37
the fed and then
12:39
we’re the next part that we talk about
12:42
um after we finish
12:44
part three of ducey versus jean-pierre
12:47
um is gonna have to do with the report
12:50
on inflation that came out
12:53
18 hours after she said this
12:58
yes which you know
12:59
that she was sitting there reading that
13:01
the next day going i am not calling on
13:03
that blonde dude from fox
13:06
yep
13:07
i am not calling on him today
13:10
once yep yep
13:12
so here is part three quickly on gas
13:15
prices the energy secretary granholm is
13:17
saying oh well if you went to canada
13:18
you’d be paying 625 a gallon if you went
13:20
to germany you’d be paying over 880 in
13:23
the uk it’s almost eight dollars a
13:26
gallon what kind of an argument is that
13:28
i think what she’s i think she was what
13:31
she’s trying to say and what we have all
13:33
been trying to say is this is a a global
13:35
challenge uh this is not just in in the
13:38
united states that people are feeling
13:40
inflation or people are seeing elevated
13:42
gas prices this is a job to protect
13:44
americans from global challenges he’s
13:46
doing he’s doing his part in trying to
13:48
make sure that we the american people
13:50
feel the impact less but here’s the
13:53
thing and we’ve talked about this
13:55
since
13:56
russia
13:57
invaded ukraine we have seen gas prices
14:00
these are the facts go up by a dollar
14:02
and 51 cents we have seen food
14:05
prices go up because of what of what
14:08
ukraine and russia represent when it
14:10
comes to wheat and corn this is just a
14:12
fact this is what we have seen for the
14:14
past several months the president has
14:16
done uh he’s tapped into the strategic
14:19
petroleum reserve in a historic way with
14:22
a million a million uh barrels of oil a
14:25
month for six months we did we have made
14:28
the announcement of the e-15 the
14:30
homegrown biofuels
14:32
that is going to help
14:34
families in the midwest so we know there
14:36
is more to do
14:38
i love that lady’s description of russia
14:41
invading
14:46
like that i’m pretty sure that was
14:49
that was this description
14:53
oh
14:54
um
14:56
so
14:57
oh oh
14:59
one i love the way he worded that
15:01
question the the inflection that he put
15:04
on that question yes what kind of
15:06
argument
15:07
is that
15:09
like he he swatted that that like it was
15:12
like it was his job
15:15
no that was beautiful because he’s right
15:17
like you’re like oh you think we got it
15:18
bad look over there
15:20
what
15:22
look look how bad they have they have a
15:24
bad tooth and well i think she’s really
15:26
bad over there okay okay
15:29
okay i’m worried about that are we gonna
15:32
apply that to the baby formula shortage
15:34
like oh you think we got it bad everyone
15:35
else can get baby formula easily oh no
15:38
wait oops
15:41
like it’s just i i it’s the tampon
15:44
shortage that we’re now seeing and i’ve
15:46
heard like i’ve heard this argument a
15:47
lot and you’ve seen people post the
15:49
memes where they’re like look at how
15:50
much gas is in france and it’s like
15:53
eight dollars a gallon or whatever um
15:55
but it’s in liters so i had to do math
15:57
so i don’t know exactly what it was yeah
16:00
um yeah and
16:02
and people are like yeah well biden
16:03
doesn’t have anything to do with that
16:04
why do they have high gas prices
16:08
well
16:10
you’re right biden doesn’t have anything
16:11
to do with their inter
16:13
deal their inner country dealings on
16:15
that however when you shut down drilling
16:18
and say that you are going to put a
16:19
kibosh on everything in the elections
16:21
and say yes people are going to have to
16:23
pay higher price prices for gas until we
16:25
can transfer off of fossil fuels in
16:28
order to move to more renewable energies
16:30
like electric or whatever uh
16:33
the
16:34
the
16:35
fossil fuel industry is going to
16:36
immediately cost more because you’ve
16:38
already stated that you are going to be
16:40
like
16:41
waging a war against their industry more
16:44
or less yes so yes and this and the
16:47
speculators respond the same way like we
16:49
have oil is at least a good bit of the
16:52
pricing is is factored
16:54
almost entirely by speculators and if
16:57
the policy makers the ones in charge are
16:59
going yeah we’re gonna drive up the cost
17:01
of
17:03
well then they’re going to assume that
17:05
the cost of oil is going up and they’re
17:06
going to to be they’re going to bet long
17:09
on on futures for oil and that’s what’s
17:11
happening like that
17:13
it couldn’t be dumber the policies that
17:15
they’re doing and now they’re panicking
17:17
and now they’re saying oh okay well
17:19
we’re going to release what a a million
17:22
barrels a month that’s like a few hours
17:25
worth that’s not that’s applied
17:28
it’s not even a day’s worth of it’s like
17:30
a matter of hours worth a month it’s not
17:32
going to do anything and the speculators
17:35
know that and so they’re seeing that
17:37
going oh that’s what you’re going to do
17:38
okay well then i’m going to assume that
17:40
the price keeps going up so then it does
17:42
and and on top of it they know that the
17:45
americans now are depleting their uh
17:48
strategic oil reserves so they are
17:51
eventually going to have to fill that
17:53
back up at some point so exactly they’re
17:56
going to be taking it out of the market
17:58
to refill it so they’re the speculators
18:01
looking at okay well this is going to
18:02
continue rising so it’s going to go up
18:04
and this is the speculators deal on a
18:07
global scale and they say what’s america
18:08
doing okay what’s china doing okay and
18:11
then they try to average it out across
18:13
the entire world yep now if you were to
18:15
say
18:16
let drilling happen on federal lands
18:18
here in america and open that up uh
18:21
without any problems where you’re saying
18:24
okay well yeah we’re going to open it up
18:25
but then we’re going to take it away
18:26
from you
18:27
prices would go down because speculators
18:29
would be would think okay we have stuff
18:31
coming in but instead you have stuff
18:33
coming in you have stuff opening and
18:34
then closing you you’ve got leases being
18:36
given out and then taken away and we’ve
18:38
went over this multiple times but you’re
18:41
not going to have an immediate thing
18:42
from that but when you have when you’re
18:44
taking them away as soon as you give
18:46
them
18:47
speculators are like no we’re going to
18:48
wait until drilling actually starts
18:50
happening at this point so you’re going
18:53
to see this a lot and they’re going to
18:54
say we we have a plan we’re working on
18:56
it
18:57
but
18:58
mild conspiracy theory kind of thinking
19:01
here
19:02
if you go back to uh the 2020 elections
19:05
joe biden said in two different debates
19:07
yes
19:08
i believe that we should transfer away
19:11
from fossil fuels completely and yes the
19:13
american people should
19:15
uh the american people should pay a
19:17
higher premium for gasoline and other
19:19
fossil fuels until that happens he said
19:21
it and now they are and now they are
19:25
that’s not really a conspiracy as much
19:26
as a easily documented public fact it’s
19:29
uh
19:31
he’s going to say no that’s not what i
19:32
meant and that’s not why this is
19:33
happening but no i meant it differently
19:36
when i said you’re
19:50
uh
19:51
who i love
19:52
um
19:53
yeah no that’s and now i’m gonna try to
19:55
use the the biden administration’s logic
19:58
here their argument as as uh mr ducey
20:00
put it you think the cost of fuel is
20:02
high well the cost of eggs is high and
20:06
the cost of food is high and the cost of
20:08
used cars and trucks are high and
20:10
airfare is high too so if you think it’s
20:12
bad with gas then you know it’s bad
20:15
everywhere else too
20:16
what kind of argument is that
20:25
uh asl people are gonna be so mad about
20:28
this episode uh i wanna fill in
20:31
by the way we’re not making fun of uh of
20:33
deaf people or people who signed we’re
20:34
making fun of that was that specific
20:37
person uh just that specific one um i
20:40
would like to fill in if they ever need
20:41
anyone to fill in i can just do jazz
20:42
hands the whole time just
20:44
and it’ll be just as informative as that
20:48
not as entertaining but just as
20:49
informative
20:50
we should officially we should
20:52
officially offer to be the white house
20:56
interpretive dance team
21:00
for when they are giving these pressers
21:02
and we just interpreted interpretive
21:04
dance the yes entire thing
21:09
like with like kabuki and we’ll we’ll
21:10
dress in black
21:12
and have like puppets and have them
21:13
attack each other and
21:15
[Laughter]
21:17
so speaking of inflation uh inflation
21:20
now is at its highest level since before
21:23
i was born uh it has now jumped to
21:27
8.6 percent
21:29
uh we were promised that we had seen the
21:31
peak by the john pierre uh and uh and it
21:35
had dropped drastically
21:38
to a game-changing 8.3
21:42
now back up to 8.6
21:44
uh and uh here’s at the granular level
21:48
uh
21:49
you’re going to notice something
21:51
i keep my eight point six is the
21:53
official number is the official yeah
21:55
yeah i noticed the exact same thing
21:58
yeah where you guys are going to spot
22:00
something probably pretty quick so the
22:02
official number is 8.6 okay
22:06
the cost of food
22:08
has gone up 10.1 percent
22:11
the cost of fuel oil has gone up overall
22:13
has more than doubled 106.7 percent cost
22:16
of gasoline has gone up 48.7 percent
22:19
cost of eggs 32.2 percent cost of
22:22
natural gas up 30.2 percent cost of used
22:25
cars and trucks 16.1 percent cost to
22:28
airfare 12.6 percent and i dispute that
22:30
number because their fare has gone way
22:32
way uh
22:35
way higher than that we’re paying way
22:36
more than 12.6 more than that was last
22:38
year uh fruits and veggies
22:40
8.2 percent now
22:43
that’s like all the stuff that you need
22:46
for the most part
22:47
i guess housing which has definitely
22:49
gone up yeah that’s going on as well
22:51
housing and rent has definitely gone up
22:53
more so you’re probably thinking hey
22:57
all of those except for fruits and
22:58
vegetables has gone up
23:01
all gone up
23:02
way more than 8.6
23:05
how the
23:06
hell how did that average out to 8.6
23:12
and i’ve got and here here’s the answer
23:14
okay
23:25
so we’re gonna get in so much so much
23:26
trouble
23:27
yeah yeah
23:29
so sung won sun
23:33
yes may as well oh i thought you were
23:34
making fun of asian people no that’s the
23:35
actual name of the actual name yes
23:39
a finance and economics professor at
23:41
loyola loyola marymount university in
23:44
los angeles said the fed now recognizes
23:47
that it is way
23:49
way
23:50
way
23:52
way
23:53
i may have added a few ways like all of
23:55
them but we added a couple ways there
23:56
yeah behind the curve on inflation and
23:59
must act more decisively stagflation is
24:02
the most likely scenario for the next
24:03
couple of years with the probability of
24:06
a recession rising which is weird
24:08
because on the same day
24:11
on the same day
24:13
that
24:14
pete ducey
24:15
and jean karine jean-pierre had their
24:18
little thing where she said we’re in a
24:20
good economic you guys remember it was
24:22
like five minutes ago yes
24:24
janet yellen
24:26
said this i’m not gonna announce it i
24:29
don’t think we’re gonna have a recession
24:31
consumer spending is very strong
24:33
investment spending is solid i expect
24:36
growth to slow down
24:39
we have a very strong economy i know
24:41
people are very upset and rightfully so
24:44
about inflation but there’s nothing to
24:46
suggest inflation
24:48
if a there is nothing to suggest
24:50
inflation if a recession is in the works
24:57
we’re already in a
24:58
recession you’re already in a recession
25:01
we are already
25:04
mark my words
25:06
the next gdp number that comes out
25:09
whatever that number is if you couple
25:11
that with whatever downward corrections
25:14
are made to the last two or three
25:16
previous quarters
25:17
if the first gdp number itself isn’t
25:20
already in the negative that minus
25:22
whatever the it decreases in previous
25:24
ones will amount to a recession
25:28
and what and the real
25:30
gauge of whether whether you’re in a
25:32
recession or not is how much money are
25:33
you making and is that more or less
25:36
purchasing power than you had last year
25:39
adjusted for inflation we haven’t not
25:42
been in a recession in like
25:44
15 years plus
25:47
but we’re in a recession recession right
25:49
now
25:51
even without adjusting for inflation
25:54
with inflation added in
25:56
like we
25:57
we have both literally happening oh and
25:59
then in addition to that yes the price
26:01
of things is going up right we we we
26:03
have both going on simultaneously which
26:05
is something you haven’t really seen
26:07
since the carter era um
26:09
yes when you had both happening
26:12
simultaneously at the same time at the
26:13
same time and the economy in in in
26:17
in
26:18
inflation-adjusted dollars is receding
26:22
and
26:23
just a little side note here
26:25
anyone who is advocating for modern
26:26
monetary theory ubi any of that stuff
26:30
what you are watching right now
26:32
is the consequence of trying to do ubi
26:35
like three months
26:38
like three times they tried just let’s
26:40
just give everyone money
26:42
they didn’t even do it as like an
26:43
ongoing monthly thing it was like uh
26:45
let’s do it this month
26:47
all right let’s do it this month
26:49
all right let’s do it this month this is
26:52
what that would look like on like a much
26:54
worse scale yes like if this doesn’t
26:57
bury mmt i don’t know what will because
27:00
this is what happens when you hand off a
27:02
bunch of money to people which means you
27:04
have to hand off way more to the cronies
27:05
who own the economy and then you have to
27:07
choke people off economically and
27:09
through regulation to make them need it
27:11
even more and this is the consequence of
27:13
it so that was your mud water mushroom
27:15
coffee replacement cacao rapid fire
27:18
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27:34
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27:38
all sorts of stuff related to the
27:40
government protecting you by taking away
27:43
your ability to protect yourself how’s
27:45
that going to work you’re not going to
27:46
believe it join us tomorrow at 8pm
27:49
eastern and we’ll be talking all about
27:51
that uh we can’t wait to
27:53
see you then and where we’re going we
27:55
don’t need roads
28:13
[Music]
28:34
you