111523 Steve Laffey

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Episode Transcript

(00:00):
I'm mister Steve Laffey. It's beena long time since we have chatted together.

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I know he's kicking the jet lagright about now, But mister Steve
Laffey on the hotline. Steve,first of all, I just start here,
welcome back, and how's the jetlag? I texted you about this.
But I traveled an awful lot backin the day, and I only
went for like a week and ahalf at a time and came back and
I never had the problem. Iwas gone into southern Europe and parks of

(00:26):
Asia for I don't know, fiveweeks over thirty days, and I just
came back from Rome flying. Neveris one lesson anybody listening. Never connect
through the Munich airport. I didn'trealize they change it from the twenty five
years ago I done there, neverconnected to Munich. But yeah, it
took it. I got used toone being at my body went to you
know, being at zero sea levelbasically from Athens to you know Constantine they

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now called Istant. Well did youdo that anyway? For those Christians who
were like what anyway? And socoming back to the sea level at five
thousand and getting back here on Saturday, I think today I finally kicked it.
Just I just made myself. Igot up a two, I got
up at three. I got upthis morning at four. That's within an
hour of normal. So here Igo, Jimmy. I'm ready to be

(01:15):
back and beyond with you. It'sa great blessing to be with you and
the people of oh around the worldnow for your show. But yes,
I haven't talked to you since Iget out of the race. So there's
so many things to talk about.Yeah, I learned in Europe. As
I say, let's talk about yougot out of the race. You left
the Republican Party, and then youtook off on vacation to talk about the

(01:36):
race, the exit from the race, and I do want to get into
the debt and some other topics likethat and inflation and things like that.
But you got out of the raceand walk us through that. Yeah,
I just wasn't. I knew andI said publicly I need to make traction
by the end of September the wayHerman Kaine did back in twenty eleven.
And I think there won't be anymore Hermancains or Steve Laughing to do this.

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It was a complete shutout no responsein the Republican National Committee and changing
the rules of the debate that Icommented on so I couldn't be in the
first debate. I fully expected tobe in one debate. I was sort
of like the number nine guy orten guys. But they changed it so
that what you had to raise yourright or left here and say you're going
to endorse anybody. And of courseseveral people made it the debate stage by

(02:20):
simply lying that would be a courtWell, of course Chris Christie would lie,
lies all the time. Take alook at his networth going up after
he gets out of office, likeNikki Haley. This is also, as
I said from the beginning, acomplete celebrity clown show is not The debates
aren't real debates. It really nowpasses. Think about the debates when no
one actually says, how would youbalance the budget? How would you get

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back our triple A? Boonderating rightthese things for CEO, these things don't
happen. So by the end ofSeptember, I get out of October sixth,
But also in leaving the party Iwanted to, I will probably come
back to being the party. Ofcourse, I have no other party to
be in. But I just wantedto make a statement so people understand I
am the person that you've heard forover and I guess ten years on the

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show and around the country, inmy book and my movie that I am
for balancing the budget. I amnot for deficits. I don't have any
deficits in my life or any debt, and I haven't for many many years.
I know people have mortgages and whateverand so far. But I'm also
for a strong national defense, andby that I mean that what's happened in
Israel recently is a crime. Imean, I've been talking about not getting

(03:30):
out of the Gods strip since nineteeneighty two, and there's all you can
watch me talk about it, andfor an hour. If you are not
that, you should back in twentyeleven about two thousand and about Aery Sharon's
greatest mistake. So I'm not anisolation. I'm just not so that part
of the party. Those two thingsin particular, And I'm actually a very

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traditional social conservative. I'm only fortraditional marriage. I've never changed. I
know Barack Obama did, I knowjust about all the Republicans that I'm not,
But I believe that the Republicans willsuffer a defeat like never before next
November, and then I think peoplelike me will have to pick up the
pieces. And the one thing tolearn about life is that. And maybe

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I've finally learned to Jimmy and aboutpolitics versus life. You know, if
you're successful like I was, youknow a little bit in business, and
you know, but I did goodthings, and I increased, I moved
up fixed in the city of Cranston. Had no bearing on the being and
US senator and being right about what'shappening to the country has no bearing on
being president. Just doesn't. Andso what you need if you're going to

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do miss Fie listening, is tojust do what the other people are doing.
You know, lie when you haveto, you know, be rams
Awami. Look at that guy.He's still in the news all the time.
He just lies all the time.And when he gets caught in the
lie, what does he do?He just talks through it. At least
Nikki Haley called him what he reallyis. It's a complete scumbag. But

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I learned a lot and I don'tthink I did it for the wrong reason.
And I just thought there was achance to make some headweight to at
least change the direction of the countryon some of these issues, which would
be the fed to reserve. Youknow, we talked about them many times.
We could talk about him now,but I wasn't able to, not
even by a stretch. The otherthing that is really true is that I
really thought that the people of thiscountry who are my age and old,

(05:18):
are sixty one sixty one now wouldactually be interesting helping younger people not suffer
so much. They're not. They'renot They're not They're not interesting. There
is interested in taking, taking andtaking. I was, you know,
in southern Europe and around and waswith you know, I guess on this

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ship about fifteen hundred Americans. Iwould say if you stared at them and
met you know, there were severalexceptions that I really get to know and
hang out with. You know.It's a shame that people are so out
of shape, don't take care ofthemselves, can barely walk two hundred pounds
overweight. And I don't have totell you no one seems interested in taking

(06:04):
care of themselves. And I'd sayno one, but a huge portion of
the American public is not interested inbeing healthy. And if that's true,
driving our healthcare course to the moon. We're going bankrupt, ye, and
we're just going to go bankrupt.That's it. Anyway, Let's go to
today's news if you want the voiceof Steve Laffey. We haven't talked him

(06:24):
in a while. He since wetalked last, he dropped out of the
presidential race and then took a longneeded and long deserved, well deserved vacation
for several weeks, and he's backon the program today. All right,
Steve, I've got a headline herestocks are soaring as they think inflation is
cooling, and then you send mea headline that says the elusive soft landing

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coming out of inflation is coming intoview. You have a contrarian view of
those two headlines, that the stocksare soaring on the inflation cool down,
that we're going to have a softlanding. Give me that contrarian view.
Well, we're simply not having yourselfwa and retail sales. Scotts have got
all these things. They look ata lagging things. But when you look
at an ingrooted yield curve, whenyou look at when you look at the

(07:08):
amount of debt that is now actuallysuch a negative part of America, doesn't
matter what it's private debt or orthe federal debt. You know we're going
to run. I don't know.You ran a one point seven trillion dollar
deficits this past year. But theinterest on the debt is now what anybody
would learn in a basic textbook isnow crowding out other stuff investments, right,

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and it's happening right in front ofour faces. But you know,
the market could rally today, ralliedyesterday ele like Tracy because but the inflation's
coming down not because of giant productivitygains. It's coming down because of a
lack of demand for things. Andthat's what's starting to happen. And so
there isn't here's the problem. Thereisn't any way to put the genie back
in the bottom. The other graphI sent to you is the trillions of

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dollars of debt generated this past yearby world economies, not even including the
private debt in China, Communists China, which is which no one can even
calculate it so large in private.So what we're heading into is biblically,
I don't know if it would bea jubilee where everybody's dead is is defaulted
on or to forgive him. Butit's way too big, and we are

(08:16):
going to have an extremely hard landingnext year and there isn't now anything the
Fed can do about it. Ratescould be higher, they could be lower.
I actually think rates I thought thisand made a little money, but
would go a little bit low aspeople saw this, But eventually they'll have
to go higher. The only reasonrates have come down on a ten year

(08:37):
bond, let's say, is because, let's but Jenny Yellen, this Treasury
secretary, has decided really not toissue long bonds. She's issuing them even
shorter. But folks, it's likeone point seven trillion dollars of stuff issued
in twenty twenty one is all comingto be redone or you know, reissued

(09:00):
much higher rate. So the fastestgrowing number in the budget is interest on
the debt. It was six hundredand fifty seven billion last year. It
will eventually overtake every line item inthe budget. And we're broke. So
these things are actually happening now.Is it true that you might rather own
a IBM bond rather than a USTreasury bud? Yeah, that's true.

(09:20):
I don't know I about saying youshould have not been telling people. But
the thought process that we're not havingan extremely hard landing after what has been
extremely negative what we call ul curveand other things happening in the economy is
nuts. It's actually happened. It'shappened as the local church. As we
just talked to a lady, doeslocal church how much the increase in food

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that people want, you know,to help our food bank, except like
hundreds of percent in the last threemonths. It's happening in front of our
faces. Now the stock market islooking at lagging in data. I'll give
you another example. Unemployment has beenrevised upward. After you know they report
the number, they want to giveyou a temporary number. It's like eleven

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straight months. They always changed it, but they're always changing it backwards that
there was more unemployment. Now,I'll ask you a question, what's the
odds of slipping a coin because itshould be up sometimes and down sometimes looking
back backwards when they get the realnumbers in of slipping it and getting aheads
eleven times in a row. Veryvery anyway, Yeah, let me go.

(10:33):
They do that a lot of agovernment statistics that here's the number and
it's celebrating the media. Then theycome back in a couple of days later,
so, oh, nope, wemissed it. It really bad and
we didn't tell you that. Thathappens all the time of the unemployment numbers.
It's been happening out there. Here'sthe question that somebody sent me and
and I don't remember if this wasin regard to our conversation, and said,

(10:54):
Jimmy, I'm all for support ofhelping Ukraine, and I'm all,
well, i'm all for finding waysto help Israel as well. However we
can't afford it. We continue tohave deficit. Can you explain to me
how those of us who are deficithawks I'm trying to summ up his email,
how those of us who are deficitdeficit hawks and think our government spends

(11:15):
too much can also be supportive ofgiving additional foreign aid that we can't afford
to these other entities. I'll letyou tackle that question. Yes, and
it's a very good question. Thenumber one answer to that, especially with
Ukraine, is that we don't wantour troops fighting and spending even more money
and defeating Russia today is far costexpensive. It's a better course to do

(11:39):
now. The secondary part about thatis that, as I said when I
announced for president, we as Americanssimply refuse to confront our problems. So
what do we do in Ukraine?We should have won the war immediately.
Instead we didn't. President Biden justhesitated on all this equipment, ammunitions and
so forth. And it's not AgainI don't want to apologize. It's not

(12:01):
that much money Ukraine because a lotof stuff they give the mis used stuff,
not all of it, but mostof it, and we certainly weren't
prepared for it to have enough ammunition. But you have to just take a
world view. If you think likeI do, if Russia takes Ukraine,
they will then go for Poem andwill be involved in a world war.
Unless you really want to be isolacious, then you better get out of NATO.
I don't see us doing that,and having traveled to some of these

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NATO countries, I really don't seeus doing And then when it comes to
Israel, yeah, we should haveforced Israel to be better prepared. I
mean the thought process that we alwaystalk about Israel or they're always prepared.
I don't know what happened. Imean, it's a crime that when that
first sense post was touched that helicoptersweren't already in the year thirty seconds later.

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And here's the other thing about Israel. Why does Israel have restrictive gun
policies? Think about it, Jimmy, think of those videos. If everybody
they're all trained, they all haveserved in the military. Who was partying
me? And what person went toa party? You know, the guys
are stripped some of joking. Idon't. I mean, this is a

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tragedy, I get it right,But why aren't they all carrying guns?
Does anybody know the answer to this? Yeah, I was surprised to find
out their gun policy, because you'reright, it is required. You were
trained to be the part of theIsraeli defensive forces, and so you've gone
through training, you have gone throughthe background check. So it seems like
everybody who served is probably i'd bewilling, especially in the conditions that they

(13:31):
have to live on a regular basis. So yeah, I don't know the
answer. Does anybody think Did anybodythink that Hamas would go into Wyoming and
go to a restaurant without people justwhipping out guns? Of course not.
They would go to New York Citywith people don't have guns. But the
thought process that they didn't have mumissionsburied places with ex captains saying, okay,

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that the string was crossed. Everybodygrabbed these AK forty seven's okay,
And imagine those guys think of whatthey ca It was like a rap.
They came in like there was aversion of the TV show Rap Patrol.
Right, these these animals, andlet's not confuse it. Hamas and the
Palestinians are animals. They are subhumanpeople. And that wall needs to be

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pushed back another five miles and pushthem. And I've said this with bulldozers
halfway into the sea. If that'swhat needs to happen, there is no
peace. And here's the other thing, there will be no peace. They
will never be peace in the MiddleEast. A presidential candidate should say it
like I've said it. This wholething is crazy and the biggest problem is

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Iran, and we've never directly confrontedIran. We should have directly confronted him
by taking out all their nuclear facilitiesthe day that they supported Hamas and let
Hamas come across that border. Butthink about Israel allowing nineteen thousand terrorists to
cross their border every day in searchof peace. When will they learn their
lesson Israel? See, you havethe amount of time and so welcome back.

(15:00):
You and the wife had a greattime traveling the globe. Welcome back,
and we will get back on trackwith our weekly conversation. Steve Laffey
dot com. That's his website,Steve Laffey dot com, l A F
F E Y Steve Laffy dot com. By the way, if you're following
the stories in Israel, go tomy interview at Jimmy Lakey dot com that
I did yesterday with State Representative RonWeinberg talking about his family being in Israel.

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And also I talked to the bureauchief of the Jerusalem Jewish News Syndicate,
Alex Treman. That's also at mywebsite, Jimmy Lakey dot com.
J I M M Y L AK E Y. All right, I'll
be back. Happy day to allof you. News Talk six hundred KCl