100423 Steve Laffey

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Episode Transcript

(00:00):
If he joins us every week ofthis time. By the way, let

(00:01):
me another imaging and marketing ploy thatthe one I think that I think the
Republicans could have great they can stilldo this is to just say, hey,
we're going we won't pass a budgetthat's not lower than pre COVID levels.
See what happened during COVID is theyraised the budget by a hell of
a lot and said, oh,we got to spend more money. Well
that's what calls the inflation. Andhey, listen to me, kids.

(00:24):
That was Donald J. Trump.Do you hear me? That was Donald
J. Trump. I know youwant to go after stammering and stuttering Joe
Biden. That's fine, he helpedexacerbate the problem, But it was it
was Donald J. Trump who startedall this spending nonsense. And I think
Republicans that are McCarthy or whoever couldhave just said, hey, we're cutting
the budget, and we're not cuttingit just for random thirty percent, twenty

(00:47):
percent. Now we're going back topre COVID levels, that the pandemic is
dead. You don't need this moneyanymore. You needed this money, now
you don't. We're giving it backto the American people, thank you very
much, screw you, and we'renot we're not going to spend that money
are And I think that's much moreof a palatable thing than just we're gonna
cut, We're gonna cut, We'regonna cut. But I haven't heard any

(01:07):
Republican out there Matt Gates walking aroundin an air of self righteousness half the
time. All these people that theyall, he didn't cut enough, he
didn't cut enough. Well, isthat selling anything to the American people.
That's why Republicans oftentimes they're not goodmarketers. They don't have to sell.
You've got to talk about pre COVIDnumbers, and that's what people don't realize.
I'm not even sure this thirty percentcut for forty days or whatever would

(01:29):
have cut us below pre COVID days. That's anyway, let me bring Steve
Laughy and I'll shut my piehole upand get Steve into the mix. Here,
uh somehow there, Oh, thereit is Steve Laughey dot com,
Steve Laughey dot com, Steve Laugheyout campaigning for presidents. Still, how
are you good, Jimmy, Greatto hear a good show this morning.
Yeah, it's a lot of alot of really stupid stuff going on in

(01:52):
our country, and it's it's notstopping, no matter what, just not
stopping. No, it's not youknow, it's Kevin McCarthy. And again
I'm not a huge fan of KevinMcCarthy. I'm not a huge hater of
Kevin McCarthy. He did have threevote marchin. That's a tough one to
govern. But it's just, youknow, Kevin McCarthy being the guy or
not the guy. He was theguy. I guess the question that I

(02:15):
think is unanswered right now. AndI know either this is going to turn
out just fine and dandy and noone's gonna pay attention to it, or
the Republicans are going to get stuckin such a chaos of internal fighting that
nothing is going to actually get accomplished. That even though Kevin McCarthy they said
he didn't fulfill his promises, nothing'sgonna get done if they if they get

(02:35):
stuck an eagle world out there.Just overall your thoughts on the next steps,
well, from Seguary the first monthto get in Sebruary, President Biden
could introduced the budget. No presidenthas done it for twenty years by law,
they're supposed to by April fifteenth.I could go to a whole bit
and your stuff that's supposed to happenby law. None of them did any
of it, none of them,not a single congressman. And when Matt

(03:00):
says he doesn't like something, Ihaven't seen and went to his website,
I don't see his balanced budget.So this is like posturing. And the
real problem is this. We're beyondthis, folks. What I said would
happened on February first, Why nowfor president that we're going to be a
financial crisis start to happen a monthlater? You know? The reason we
don't have it today is that theFederal Reserve stepped and again changed from quantitative

(03:23):
typing the quantitative evening, came upwith a new program called the Bank Term
Funding Program, and so they bailedout the banks and quietly no one paid
attention. But as I also said, the budget, the debt is way
too big, and now it's over. The crisis is here. There's no
soft landing. Financial crisis is atyour doorstep. In the American people are

(03:47):
either too stupid or whatever and don'teven know or don't care because our elected
the Fishers don't care at all.So the rates went higher, and now
mortgages are at eight. So thethirty year old person that I'm fighting for
can't get a mortgage. But thatthirty year old person doesn't seem to know
because they're probably covered with tattoos.On late four hudred pounds. I mean,

(04:10):
I mean, I don't know whatto say, folks like like like
it's it's literally over. And theCongress didn't read what Fitch Rating agency said
when they load when they lowered thebond, right, what did Fitch say?
You and I talked about it onthe radio. I talked about it
to everybody I could on TV.The rating was downgraded. The erosion of
governments is their number one point.What do you think just happened last weekend?

(04:35):
What do you think happened last Thursday? What do you think people have
when they even continued it for fortyfive days? What don't everybody thinks going
on? Is there an erosion ofgovernments? This certainly is. How about
the second point that Fitch makes forgetabout what I would say, the rising
general government deficits? Huh? Didn'twe point out here on the show in
July that Jenny Ellen woke up oneday after coming back from China, which

(04:58):
is not her job, and said, whoa, We're gonna have to issue
one point nine trillion dollars in bondsover the next six months, the most
in history, and rates rose because, oh, because we have more supplies.
And now the supply is never endingand the FED is not buying them,
they're selling them. So so whatdo people think is really happening?

(05:24):
So here's the bottom line. Assoon as everybody gets the picture that the
United States of America cannot pay theinterest on the debt, which is what's
happening, all holy hell is goingto break out in America. And it's
happening now. It's why I announcedfor president. But look back to last
Wednesday night's debate Fox Business News.Does a debate people keep talking over each

(05:50):
other? Are they talking about thetriple A bond ready? Nope? The
deficit note. Is Chris Christie reallytaking down Donald Trump with his comments about
Donald Or? Was that the worstcomment ever made in political history on a
TV debate? Yess it was so. So this is actually happening. I
have as much a chance as anybodyof catching Donald Trump because my party has

(06:11):
lost its mind, literally lost itsmind. People are not focused on this,
and we are at death store forthe United States of America's finances.
And when it switches and the DAVAplummets because it's been getting stronger because with
a clean a shirt in the dirtiesthlaundry whatever the hell people want to say,
right, because obviously better to haveus Dallas today than Ecuadorian they use

(06:34):
your staalasts or Venezuelan, whatever theheck they use. Right, So all
this is actually happening now, notlike I said five USCU it's going to
happen, not what I made themovie. If we don't get control,
is it's going to happen. It'shappening now. And so does it matter
at all what these people are doingin Congress because I've watched this morning at

(06:56):
four o'clock when I couldn't sleep againbecause this burden of like thinking about the
people my movie who are suffering,is still with me. The people I
meet on sides of roads who don'tgo to Republican functions, Jimmy, they
don't go. They're working a secondjob at Walgreens, right, They're not
had a Republican functions saying Donald Trumpis the greatest president of history of America.
They're not there. They're actually workingtheir butts off. So this is

(07:17):
the real problem. Like it didn'tmatter what they did last weekend. It
doesn't matter. I don't know.No usually when people get rid of the
speaker or if this step has neverhappened before. But does Matt gets have
a congressman gets have a plan?I watched him on mother Ingrament's four o'clocks
from the last yesterday. He doesn'thave a plan for the new speaker.

(07:39):
Why wouldn't he have a plan.Shouldn't you have a plan? We're getting
rid of that guy? And youexactly right, Jimmy, when you said
think about it. They had toget all the Democrats to go along with
eight and I'm not listen. KenBuck has his personal reasons. He said
he's not going for this. Hecan go read it on his Twitter site.
I know ken Buck. I ranagainst in Buck, he defeated me.

(08:01):
But he has his reasons. He'snot doing any more of this.
He votes conservatively. He's just notdoing anymore. That's fine, that's his
philosophy. I actually agree that's philosophy. But the bigger point is simply this.
We haven't, no matter what anybodysays about the speaker, we postpone
the day of reckoning by forty fivedays. But the market's saying it's not
postponing the day of reckoning. Sowhat are people really going to do when

(08:24):
we can't pay the interest on thedebt? I don't know what to say.
Yeah, this is where a lotof folks we say we got to
cut at least we haven't got backto pre COVID spending guage. Nobody's even
talking in that language. And Ithink that's something that you sell to the
American people. Let's get back topre COVID spending. That would be a
step in the right direction. Let'slet thirty percent or ten percent cuts be

(08:48):
on pre COVID spending levels. Andyet the Republicans aren't talking about that.
They're talking, They're out there justtalking about I don't know what they're talking
about, but it's not making senseto they're talking about any of this.
Jimmy, it's bizarre the presidential candidates, I'm talking about any of this today,
Like today, Chris Christie's not goingto the microphone along with and getting
together with Nicky Hayley sooking about mefor fright, and even though I'm sort

(09:13):
of in the margin of error atzero with Chris Christie, right, here's
a guy. I mean, Ilike the joke about it a sense because
I'm not doing well, because I'mbecause but I'm the only person with a
plan the fixes at Steve Blappy dotcom. Pete. I didn't realize this
when I started running. You don'thave to have a plan. You can
just do gut your statements and watchFox Business News say in between the commercials,

(09:33):
say hey, he got him andshe got her, and what is
it? Still would be in presidentof the United States, this is what
we've lost good. It becomes sucha shallow, shallow standard. I mean,
it's whole. Kevin McCarthy, weAllston and we got it. Matt
Gates has no plan. Matt Gateshas no vision for the future. Matt
Gates has a personal vindett against McCarthy. Ken Bak is principled guy. And

(09:54):
again I don't mind the principles ofit. I don't know how this all
plays out, but the bottom line, you're sitting here, You're talking about
bond rating, You're talking about thirtyyear olds who don't understand what's going on
why they can't buy a house.Most Americans even listen to talk radio,
going Steve, I'm not really exactlysure what the bond thing is either.
We're so illiterate as to what's happeningall around us and the world is falling,

(10:15):
and I guess we've been dumbed downso that we don't know what's happening
and how bad the politicians are screwingus. And that's exactly right. I'll
give you one example. The Austriansissued a hundred year bond a couple of
years ago when rates were really well. A hundred year bond, one hundred
year bond. Today it trades itthirty. And so just so people,
one little basic thing. The longerroute you go thirty years is a US,

(10:39):
but a hundred years, when Rachellies even a little bit, you
go broke. So just remember that, because what's the only thing left now
to happen is that there is noway that the said can continue quantitative tightening
and get things to normal. AsI told you all when I made the
movie I was with, I meantold you in twenty fourteen, I told

(11:01):
you we can't get back to normal. So the said will either have to
repress rates and people. What doesthat means. It means they will artificially
keep them low, meaning they willtotally hose everybody. Unless you're really rich
listening to this station right now,you will lose everything over the next twenty
years. They just do it slowly, and they won't tell you when you

(11:24):
get your Social Security check. Theywill run inflation at five, six seven
percent, say they're getting it doneor two keeps rates low, and then
when you get that so Security checkthat you thought was going to be two
thousand dollars a month, it willbe it's just going to be two hundred
dollars in real terms. And ifyou don't understand what I'm saying about real
terms, I can't help you anylonger. Like you're dumb as a rock.

(11:46):
You should understand this stuff. Thecountry is failing, and your children
are screwed. They go to terriblepublic schools. I don't know what else
to say to people anymore, likeget your act together, I'm going to
be fine. Kids are signs Americais totally hosed by the clowns in Washington
that we elected and think they're doingokay. Because because guess what, my

(12:07):
congressman's doing a great job. Therest of them suck. That's what everybody
keeps saying. It's terrible. Yeah, but if the bond thing is going
to go lower, rates are gonnago higher unless we repress bonds, which
means we run inflation higher. Whatis needed to fix the country is a
two year disaster to come out ofit when we cleanse the system from the

(12:28):
deformation of the said reserve and theelected officials. Think about Paul Ryan,
Eric Canter and mccafey being the youngguns in like two ten, twelve,
right right, and look what theyaccomplished. Nothing. He accomplished nothing for
our country. The witches, SteveLaughey, Steve Laughey, the world has

(12:48):
fallen apart among us. America isnot doing well. And yet even the
staunch Republican conservatives out there are going, We'll look at last week at Randy
Kevin McCarthy in the end of things, What difference does it make to quote
Hillary Rodham pink calls Clinton. Itmakes no difference. It's a sideshow,
a spectacle, and a three ringcircus. That's what I'm trying to get
across to you.