Episode Transcript
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Speaker 1 (00:01):
So there are rumors going around that there's a lot
of infighting within the Democratic Party, specifically with elected officials
ahead of this big debate that's going to take place
this week. Senate Democrats now seem to be coalescing around
one another to.
Speaker 2 (00:17):
Quote squash the rumors.
Speaker 1 (00:19):
The President Joe Biden in fact, might be replaced as
the nominee before the Democratic National Convention in August because
of concerns over his age, and honestly, more than that,
his poll numbers right now now Joe Biden, in theory
has a zero point four percent lead over former President
Donald Trump and a head to head matchup that's a
(00:41):
nationwide pole. That is the poll that the latest five
thirty eight poll that came out that really doesn't matter.
It does tell you kind of a little bit of
a trend, but it doesn't really matter because Trump leads
Biden in seven of the eight key swing states Chigan,
we have a small lead for Trump, Pennsylvania, Wisconsin, Georgia,
(01:04):
North Carolina, Arizona, and Nevada. That all according to the
newest poll coming out from Forbes.
Speaker 2 (01:11):
That's what really matters. Now. There's been a lot of.
Speaker 1 (01:14):
Democrats behind the scene They're like, can we replace this guy?
Can we get rid of him? How do we get
rid of him? And ultimately it's going to come down
to Joe Biden. If Joe Biden says I'm not going
to drop out, then it's never going to happen, and
they can talk all they want. The other option they
had was to stop funding to Joe Biden, and that
clearly is not going to happen. Now. Donald Trump did
(01:34):
outraise Joe Biden in the last quarter. That was just reported,
but in all fairness, that was also when Donald Trump
was convicted in New York and people gave like never before,
So I don't know what the numbers would have been
without that court case. Now Democrats right now are in
a very weird situation because they're trying to tell you
(01:55):
that Joe Biden is like the smartest guy ever. Democrats
in the media that that's all they're saying now is
he's his best version of hisself. He's incredible, he's doing great.
And then behind the scenes are like, can we get
rid of this guy? How do we get rid of
this guy? How quick can we get rid of this guy?
What happens if we get rid of this guy, what
do we do to push him out? So there's a
(02:15):
really big debate happening. Senator Dick Durbin all Right said
this today, stories about Biden dropping out or dropping off
the tick of the summer or fall are simply, quote bizarre,
is what he said to The Hill newspaper. Senator Richard Blumenthalt,
Democrat from Connecticut, also getting on the record because there's
(02:37):
been a lot of speculation swirling, so he said, quote,
I've heard no credible plan B, and I'm not counting
on a plan B. Senator John icken Looper, Democrat Colorado
acknowledged Democratic voters quote are alarmed over poles showing Trump
has a solid chance of beating Biden the fall, saying,
quote everyone seen the polls, and I think people are
(02:59):
so alarmed that we could elect someone who's kind of
revealed themselves to be a demagogue.
Speaker 2 (03:06):
That's what he said, referring to Donald Trump.
Speaker 1 (03:08):
Now, the media is also trying to figure out how
do they play this. Do they cheerlead for the president
so they keep having access to his campaign, or do
they tell the truth.
Speaker 2 (03:18):
Well, we now know what they're going to do.
Speaker 1 (03:20):
It is clearly to lie to the American people and
try to convince you that Joe Biden is in an
amazing spot. I've got a montage of the media I
want to play for you, and it also is going
to be comparing the real Joe Biden what he says
on stage.
Speaker 2 (03:34):
None of what I'm going to play for you is edited.
Speaker 1 (03:37):
This is all unedited, real audio of the President of
the United States of America in public at public events,
speaking or during interviews.
Speaker 2 (03:46):
And then you're going to hear in between.
Speaker 1 (03:48):
The media telling you that Joe Biden is this amazing,
incredible guy that is not has zero cognitive declined. Before
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Speaker 2 (05:42):
Now, take a listen to this montage.
Speaker 1 (05:45):
You're gonna hear the media telling you that Joe Biden
is in perfect health, nothing wrong with him, no cognitive decline.
Speaker 2 (05:52):
And then you're gonna hear the President in his own.
Speaker 4 (05:54):
Words, because I'm about to tell you the truth and
few if you can't handle the truth. This version of
Biden is the best Biden ever.
Speaker 3 (06:05):
Do you know?
Speaker 2 (06:06):
He knows so long.
Speaker 4 (06:09):
In fact, I think he's better than he's ever been.
Speaker 5 (06:12):
President Biden has a photographic memory, His understanding and mastery
of a complicated geopolitical situation remarkable.
Speaker 6 (06:21):
He is sharp, intensely probing and detail oriented and focused.
Speaker 2 (06:26):
Jackie, you here, Jackie, I think be here.
Speaker 1 (06:31):
I was sitting, you know, a two feet from him
across the table, and he was, you know, intense.
Speaker 4 (06:37):
It's have trouble walking sometimes, yeah, so did that pr
he wanted gd war.
Speaker 2 (06:42):
But he's totally focused. He's very sharp, they say he's
sharpened meetings and so on. Very lucid, little, very well informed.
Speaker 7 (06:48):
Biden's stately and he comes with gravitas.
Speaker 8 (06:50):
There hasn't been, as far as I know, a single
claim that Biden made a mistake.
Speaker 2 (06:57):
Agism is an issue.
Speaker 6 (06:58):
Americans have a rich history of holding people's physical characteristics
against them.
Speaker 2 (07:03):
Okay, you can ask African Americans.
Speaker 9 (07:05):
He's older, that doesn't mean that he is unfit.
Speaker 10 (07:08):
And there's a lot of ages in there now.
Speaker 6 (07:10):
This age attack, this obsession by the right Joe Biden
may not be able to speak for himself the way
that he used to.
Speaker 11 (07:16):
They want to think it is to take on government
if we get out of line, which they're talking on
again about and him lying around.
Speaker 5 (07:25):
I think people should be speaking up for Joe Biden.
Speaker 6 (07:27):
Americans and reporters in the media are just judging him
by physical appearance, and it's for of the unfair age
is an ascent.
Speaker 9 (07:36):
He showed exactly how with it he is.
Speaker 5 (07:38):
The flip side of this coin is that he has
a tremendous amount of wisdom and experience.
Speaker 6 (07:43):
Have you heard any concerns from anyone who has met
with President Biden about seeming a little slower, no more.
Speaker 4 (07:51):
Wild speculation from a bunch of people who have probably
never been in a room with Joe Biden and certainly
don't have medical degrees that.
Speaker 2 (07:57):
I'm aware of. You don't get paid for performance be president.
You don't. The job is not a job of endurance.
Speaker 12 (08:04):
I don't see Donald Trump out by riding.
Speaker 2 (08:06):
Like Joe Biden.
Speaker 9 (08:07):
It's the Hillary's email.
Speaker 2 (08:08):
All they have is that he's.
Speaker 9 (08:09):
On he can clear a dementia bar and that's probably
a win.
Speaker 4 (08:13):
The media are not fair, and they're getting less and
less fair, and things are frightening. You have you have
Wall Street Journal running a hardly source.
Speaker 2 (08:23):
Piece saying that Biden is unfited.
Speaker 13 (08:24):
You'd be a small Street General report about the president's acuity.
Speaker 8 (08:28):
Shoddy story by the Wall Street Journal questioning Biden's mental fitness.
Speaker 6 (08:32):
Wall Street Journal story and had a lot of flaws,
as you said, but sin clear they didn't do any
original reporting, they didn't follow up, they didn't do any work.
Speaker 3 (08:40):
Here.
Speaker 11 (08:40):
This today is hersh Gilbert poland he's still he is
not here, but he's still being held by a man.
Speaker 9 (08:48):
But a huge part of the Mulla report talks about
Russian disinformation tactics.
Speaker 2 (08:52):
And one of the things.
Speaker 9 (08:53):
This election cycle is that Joe Biden is too old
to lead, and so everyone is seizing upon this, and
it is a class this information tactic, and I think
the best thing that we can do is to prepare
the American people for this false narrative.
Speaker 2 (09:06):
It's a false narrative.
Speaker 1 (09:08):
If you think the President of the United States of
America is not sharp, don't.
Speaker 2 (09:13):
Believe your lying eyes.
Speaker 1 (09:14):
Right, Biden's brain is sharper than ever, sharper than yours,
I tell you. And it's a narrative, a terrible narrative
if you don't believe us. You know, there's also that
saying that his actions speak louder than words, and the
actions of many Democrats are saying they believe that Joe
Biden is on a cognitive decline. By the way, as well,
there's a new report out that says an anxious Barack
(09:37):
Obama has quote become increasingly involved in the Biden campaign.
Former President Barack Obama and many of his former colleagues
in the White House are heavily involved in Joe Biden's
White House. They're heavily involved in making a lot of
money off Joe Biden's presidential campaign, and many of the
things that Joe Biden is doing is because of the
(09:57):
people that used to work in the Obama administration.
Speaker 2 (10:00):
They're basically running the government.
Speaker 1 (10:02):
Clearly, since Joe Biden is not well, former President Barack Obama,
we now are being told, especially after his recent moment
where he had to lead Joe Biden off the stage,
they said, oh, just best buddies putting their arm around
one another.
Speaker 2 (10:16):
That's not what the video showed. But hey, don't believe
you're lying. Eyes right.
Speaker 1 (10:20):
He has increasingly involved himself in the Biden campaign. This
is what sources have told the New York Magazine. Now
that is not a conservative publication. New York Magazine quote.
Obama's involvement reportedly began after Biden campaign officials realized in
late twenty twenty three that they would face former President
Donald Trump in a historic rematch, and they knew they
(10:42):
need to bring in the big guns. Trump has about
a two and three chance of completing the greatest political
comeback in modern political history. That is what an Economists
modal forecast says in June.
Speaker 2 (10:57):
In addition, seventy.
Speaker 1 (10:58):
Three percent of voters think Biden is to a to
be an effective president. That coming from a New York
Times survey in March, including sixty one percent who supported
Biden back in twenty twenty saying now he's just too old.
That's where Obama's role came in. Obama's role also includes
(11:18):
consulting with O'Malley Dillon that's Biden's campaign chair, and Anita Donn,
a Biden aid who worked with Obama. He advises on
digital budget strategy, assists in hands on public relations work
with Hollywood celebrities and fundraisers for the president as well.
New York Magazine is now reporting quote as he's become
(11:39):
more plugged into the Biden political thinking. Obama speaks more
often with O'Malley Dillon, the campaign chair and functionally it's executive,
including about Biden's effort to target hard to persuade young
and black voters. At the same time, operatives in Obama's
personal office coordinate with Biden's campaign to make sure Obama's
(12:01):
in the loop on campaign updates, and he has kept
in regular touch with the White House side as well,
checking in with two or more of his former aides,
including the chief of staff Jeff Zinis and Donn a
senior advisor, though his anxiety about the election is real.
The words of one Obama friend, the ex president concern
(12:23):
sounded a lot like those of other top Democrats. According
to others they've spoke with, what are they worried about?
Speaker 2 (12:31):
Well, they're worried about.
Speaker 1 (12:33):
The cognitive decline and focus of Joe Biden. Those who
are in regular touch with Obama say he sees nerves
that are not a reflection of quote, any particular angst
about Biden or his team, but of the broader reality.
The country is closely divided, the media landscape is fractured,
(12:55):
and Donald Trump may well win this upcoming twenty twenty
four presidential election. Obama is always acknowledged to friends and
supporters that he is worried. He's worried about this nail
bider and it will likely be a nail biterer, is
what he's said privately to many Democrats at fundraisers. Yet
he has remained careful about not well inciting any specific
(13:20):
concern or complacency about the campaign itself aware that reports
about his feelings are unlikely to help the Democratic cause,
so he knows he has to play it cool.
Speaker 2 (13:33):
This year.
Speaker 1 (13:34):
He is highly likely to reprise his role as one
of Biden's most prominent surrogates come the fall. He has
also gotten publicly involved earlier than many anticipated. Just this month,
he joined Biden on stage in Los Angeles to do
some heavy lifting for his second splashy campaign fundraiser, this
one featuring George Clooney, Julia Roberts, Jimmy Kimmel. Between bashes
(13:59):
like that, unless clamorous efforts, the ex president has already
brought in more than six million for Biden that according
to a Democrat familiar with the campaign numbers. He has
filmed ten video clips that the Biden team has used
as digital advertisements, and more are likely to come depending
on what those issues obviously will be. Both presidents are
(14:21):
working out of the exact contours of Obama's role in
Biden's campaign, just as the relationship enters a new chapter
defined by Trump's possible return and with it, a threat
to their joint legacy. Obama's hand on help has not
appeared to always benefit Biden. A video on Sunday showed
(14:41):
Obama guiding Biden off the stage at a fundraiser, obviously
making the President of the United States America Joe Biden.
Speaker 2 (14:48):
Look well, feeble, old and weak.
Speaker 1 (14:52):
The other thing is, yeah, it was prominent because you
had Joe Biden that was being let off by Barack Obama.
But the bigger question is if he didn't do it,
somebody else would have. Now, the video came amid several
videos that shoe Biden. As it's been described, this is
coming for the New Yorker malfunctioning in public, raising concerns
(15:13):
that Obama intentionally tried to sabotage Biden by walking him
off stage.
Speaker 2 (15:18):
Those rumors are apparently not true.
Speaker 1 (15:21):
The White House claim the video was quote a cheap fake,
meaning don't believe your lying eyes.
Speaker 2 (15:28):
So you look at this going.
Speaker 1 (15:30):
Into the debate on Thursday, and there's two things you
need to be ready for. One, the media is going
to try to tell you that anything less than normal
is amazing for Joe Biden. And they're going to raise
the stakes in the next couple of days to make
it seem like this debate is clearly Donald Trump's to lose.
(15:53):
They're going to put all the pressure they can publicly
on Donald Trump to just shine, and they're going to
lower the bar substantially for the president of the United
States of America. And as they do this, they're doing
it because they understand this is the best strategy. If
Joe Biden shows up and just does an average job,
(16:13):
that will be described by the media as an unbelievable success.
That's how you push these narratives out there. Now, there's
also sarrogates that are saying they don't think that the
president's in a good spot right now. There are many
that are well, very concerned that even with moderator Jake Tapper,
who's obsessed with Donald Trump and has compared him to
(16:36):
a Nazi multiple times. They also are concerned about Dana Bash,
a hardcore lefty who also is on the record countless
times on CNN hating on Donald Trump. Those two are
supposed to save him in the first debate. Will they
be able to possibly, it's going to be a three
against one debate. It'll be Jake Tapper, Dana Bash, and
(16:57):
Joe Biden against Donald Trump. But what if that doesn't work?
What then happens? Well, the White House will then lie
to you. They'll tell you that you know that there's
these these quote cheap fakes that happen right, cheap fakes
where any video you see of Joe Biden that makes
(17:17):
him not look good. They want you to believe that
it's actually doctored, put together and isn't really him.
Speaker 2 (17:24):
That's what they're going to say.
Speaker 1 (17:26):
So if he has a bad night, they're gonna hope
that a lot of Americans didn't actually see it. They're
gonna hope that a lot of swing voters didn't actually
see it.
Speaker 2 (17:36):
They're gonna sit there and tell.
Speaker 1 (17:38):
You don't believe the clips that you're seeing on social media.
They're ai, they're cheap fakes, they're not real. They're going
to tell you that over and over again. Let me
also say one other thing about the media and and
them lowering, as I described, expectations, But while they're lowering expectations,
they're also going out after anyone that points out the obvious.
(18:03):
I'll go back to Stay of the Union, and it
was very clear that Joe Biden when he walked out
to get that Say of the Union was jacked up.
I don't know what he was on, but like in
the first five minutes, go back and look at my tweet,
and I was like, I don't know what he's on,
but whatever they gave him, I want some of that
he came out talking really fast, his eyes were barely blinking.
Speaker 2 (18:26):
He was, as I describe it, jacked up Joe.
Speaker 1 (18:30):
I said this last week on TV at Fox when
I was in New York. He was jacked up Joe.
There's two different Joe Biden's. There's a Joe Biden of
Debate Night and Joe Biden of the State of the Union,
and then there's the.
Speaker 2 (18:42):
Every day Joe Biden.
Speaker 1 (18:43):
And he goes for an entire week we as we've
been told now to go to his camp able to
do prepare.
Speaker 2 (18:49):
What's he doing there?
Speaker 1 (18:50):
First joke, I said, because it's not really a joke,
and you know it's real. I said, he's like go
in there to to prepare. He's going there to sleep.
The best thing that they can do for Joe Biden
is get Joe Biden to go to sleep. Like that's
just the truth. I don't think that's being mean, because
(19:10):
how much can you prepare this guy for when you've.
Speaker 2 (19:13):
Got to basically just get him jacked up.
Speaker 1 (19:15):
Now the media is furious over this, all right. Sand
M's Jim Acosta is slamming Fox News for parenting claims
about jacked up Biden, comparing it now to birthersm Listen
to this from CNN preparing their audience for the debate
(19:36):
in case jacked up Joe, I guess doesn't show up
the entire night.
Speaker 2 (19:39):
I think is.
Speaker 13 (19:40):
Really interesting is also how we're seeing the campaign try
to manage expectations. I want you to listen to some
pretty vulgar language and runner hick that Donald Trump used
at his Philadelphia rally.
Speaker 2 (19:50):
Take a listen to what he.
Speaker 1 (19:51):
Said, by the way, the vulgar language, you know, really
vulgar language, right, you know they just played that out
like this is some really vulgar language and rhetoric from
Donald Trump. You're gonna laugh because it's not vulgar like
the way they're describing it. And this really just terrible rhetoric, right,
You're going to laugh because this is how much they'll
(20:13):
overplay it.
Speaker 2 (20:13):
Listen, and right.
Speaker 3 (20:15):
Now, Crooked Joe's gone to a log cabin to study prepare.
Speaker 2 (20:21):
No, he didn't. He's sleeping now because they want to
get him good and strong, so a little.
Speaker 3 (20:29):
Before debate time, he gets a shot in the ass
and that's.
Speaker 2 (20:34):
They want to strengthen him up.
Speaker 3 (20:35):
He'll come out, okay, I say, he'll come out, all
jacked up, right, all jacked up.
Speaker 13 (20:44):
So clearly this is Donald Trump's version of trying to
raise expectations.
Speaker 2 (20:49):
Awful, We should just be clear.
Speaker 13 (20:50):
I mean, there is no and you know this as well,
there's no evidence that Joe Biden has ever taken a
performance enhancing drug that he's planning to. But this is
how Donald Trump is playing off his out and whatnot.
Speaker 1 (21:00):
But I do, by the way, can we just laugh
that the fact that they're they're now saying, well, there's
no proof that Donald that Joe Biden has ever taken
a performance enhancing drug. The fact that they're covering it
is just amazing, Like it's exactly what Donald Trump wanted
them to do because now they're actually having to talk
(21:21):
about it and now people are going to be looking
for it, and they just took the bait. From that standpoint,
I want to say, I absolutely love this, Like this
is amazing to me.
Speaker 2 (21:32):
That's number one. But keep listening.
Speaker 13 (21:33):
You find it fascinating because we know for months now,
Donald Trump himself but also his team, I've been painting
Joe Biden as this weak and feeble candidate, arguing he's senile,
that he can barely stand on the debate stage for
the ninety minutes that has allotted on Thursday. But now
they're recognizing that's actually not working in their favor because
the bar will be too low for Joe Biden. So
we're seeing them try to raise expectations, and I think
(21:55):
I know throughout this week they're going to have a
lot of Donald Trump's surrogates and advisors on the air
waves trying to do exactly that.
Speaker 12 (22:01):
All right, yeah, they have to pick one. Is it senile?
Is it jacked up? It's one or the other at.
Speaker 2 (22:06):
This point, pick which one?
Speaker 11 (22:07):
Right?
Speaker 1 (22:07):
Did you hear that, Like, well, you got to pick
is it senile or jacked up? Well, the point is
he's senile, So therefore they got to juice him. They
got to jack him up to get him ready for
the debate. I don't have to pick one or the other, Jim.
As much as these guys at CNN say this, you
just got to laugh. So they go from the hard
news report and then they go into the commentary. Okay,
(22:28):
now listen to the commentary aspect of this.
Speaker 2 (22:31):
It's amazing.
Speaker 12 (22:33):
Try to just Chuck Roache and CNN senior political commentator
Scott Jennings Chuck, I mean, what do you make of
all of this and also the rhetoric that Trump is
using heading into this debate. I mean, it almost sounds
like he's road testing a new berther Lie with this
jacked up business. You know, it's just people will say
always just joking, but I mean they're saying it over
and over again. Nobody's ever made this kind of allegation
(22:56):
about Joe Biden his entire political career, even though he's
been in Washington fifty plus years.
Speaker 10 (23:00):
It's why it makes it so hard to prepare for him,
and I think that's why Joe Biden's taken so much
time to prepare it.
Speaker 2 (23:05):
I've done debate prep before.
Speaker 10 (23:07):
You look at all the statements and things that somebody does,
and normally as a campaign they have a professional team
around him and they stay on a certain message. You
never know what you're going to get out of Donald Trump,
so you have to prepare for everything. To the point,
the two folks were just talking about which one of
the Donald Trump's actually show up, and then how do
you actually debate prepa gets somebody that spews so much
misinformation or disinformation. I think that's the biggest challenge for
(23:28):
Joe Biden.
Speaker 12 (23:28):
Yes, Scott, I mean, what's with all this jacked up business?
Speaker 8 (23:31):
Oh, this is a running commentary on the right since
the State of the Union when Biden came out rather
aggressively yelling at the Congress that night. So I think
Trump is riffing off of that joke that's been going
around in Republican circles.
Speaker 1 (23:45):
I think Chuck by the way, by the way, I
love how they like even there Scott Jennings, And I'm sorry,
I got to disagree with Scott on this one, Like,
come on, dude, he's like, oh, it's a joke in
Republican circles. Every American that the watch what happened at
the State of the Union knows exactly what you're talking
about and what jacked up Joe actually means. It was
(24:07):
clear that Joe Biden came out of the gates during
that debate and was jacked up on something. I don't
know what it is, but I know it wasn't the
normal Joe Biden that we see. And you could say, well,
he was just excited about to say.
Speaker 2 (24:20):
Of the Union.
Speaker 1 (24:21):
I don't believe that crap for a second either. I
don't believe that for a half a second.
Speaker 2 (24:27):
And they know this all right, they're not stupid.
Speaker 1 (24:31):
But if you want, I guess, keep your job now, CNN,
you just got to lie to the American people and
tell them what you're witnessing is not, in fact what
you're witnessing. It's again, don't believe your lying eyes. That's
what their defense is on all of this. He is competent,
he is great, His plans, his policies are incredible. Right,
(24:53):
that's what they say. That's that's what they're gonna tell you.
I go back to the economy. The media keeps lying
to you about the economy right now, telling you that
Bidenomics somehow worked, it didn't work, and then they say, well,
don't jump out the worst economy ever, that's what they'll
tell you. Take a listen to this on Fox Business
(25:15):
talking about this aspect of where we are our life.
Speaker 11 (25:18):
For I begin with you modern monetary theory. What is
it exactly? Alas for you oric grave diggers.
Speaker 14 (25:26):
Well, what they say is they can go unlimited amounts
of borrowing because the markets will tolerate it at low
interest rates. But the problem with modern monetary theory, Larry,
is really very very simple.
Speaker 2 (25:38):
You know if you use it.
Speaker 14 (25:39):
If you borrow a two percent and use the money
to create economic growth and have yields of five percent,
you should borrow a lot. You're making profits and you're
creating a better country like we did with Reagan.
Speaker 2 (25:50):
Larry, that's right.
Speaker 14 (25:51):
But when you borrow money no matter what price, and
you use it to pay people not to work and
to destroy economic value, then you shouldn't borrow it all.
But they're borrowing all this stuff and they're using the
money badly, and by using it badly, they've created the
Biden economy, which is a catastrophe. I mean, if you
compare that with the Reagan I mean, with a Trump economy,
(26:12):
it's just amazing the juxtaposition there. I mean, nothing matches
Trump's first term in office until COVID hit, and nothing
matches that it was the best economy I think in
a first term.
Speaker 12 (26:23):
Ever.
Speaker 1 (26:25):
I agree with him, by the way, but that's not all.
You also have this comment about binomics. Listen, well, Steve Moore.
Speaker 11 (26:34):
Let's just go into this because people may not recognize
the term modern monetary theory. Okay, but what you're talking
about is basically endless or limitless spending borrowing. And the
other key is the modern monetary theory. People who do
populate the Biden administration unlimited money printing.
Speaker 2 (26:54):
Right.
Speaker 11 (26:55):
They argue that because the dollar is the world's reserve currency,
quote unquote, for the moment, we could the government could
or the Federal Reserve could buy all the bonds that
are sold, could print all the money necessary. And that's
really the clincher for modern monetary theory. They're not worried
about inflation, they're not worried about regulation, as Arthur said,
(27:19):
they're not worried about sluggish growth. Now have they been
proven right or wrong so far?
Speaker 7 (27:25):
Well, it's important for people to realize where this came from.
Remember Larry and Arthur. When Obama was president, he remember
his eight hundred billion dollar so called stimulus plan with
the shupled ready projects, and it did not stimulate the economy.
The economy did terrible over the next four years. They
never came anywhere close to the three to four percent target.
(27:45):
And so what was the reaction. The reaction should have been, well,
that all this spending and debt doesn't really work. And
what they just what they came up with, there's this idea,
oh no, asked Paul Kruman. He said, they didn't spend
and borrow enough money. You know, if they just borrow
up for five trillion dollars more, it would have worked.
So Biden comes in and buys this craft pop theory,
(28:05):
which is very convenient for him because he wanted to
spend the money anyway. And now we have this experience, right,
and now we'd have this experiment with Bidenomics, and it
is modern monetary theory. And the point of our piece
that Arthur I wrote is who have been the victims
of this?
Speaker 2 (28:20):
Well, the middle class, Larry.
Speaker 7 (28:21):
Because the prices have gone up by twenty percent, incomes
are only up sixteen or seventeen percent, So the average
American is poor as a result of this. So this
idea does not work. Hopefully we can we can put
it in the grave. It's pour salt on the soil,
so the idea never comes back.
Speaker 2 (28:41):
Could not agree more. This is how they're going to
lie to you.
Speaker 1 (28:45):
That's why I do this show to tell you you're
now prepared for it. And this is what they're going
to do until election day, and they're certainly going to
go all in on it now more than ever. The
week of this debate to try to convince you that
if he has a bad nine night, that if his
policies aren't clicking with you, if the economy's not doing well,
(29:06):
that well, you just need to believe us that actually
things are not just good, things are great. Make ssure
you share this podcast with your family and your friends,
and I'll see you back here tomorrow morning,
So there are rumors going around that there's a lot
of infighting within the Democratic Party, specifically with elected officials
ahead of this big debate that's going to take place
this week. Senate Democrats now seem to be coalescing around
one another to.
Speaker 2 (00:17):
Quote squash the rumors.
Speaker 1 (00:19):
The President Joe Biden in fact, might be replaced as
the nominee before the Democratic National Convention in August because
of concerns over his age, and honestly, more than that,
his poll numbers right now now Joe Biden, in theory
has a zero point four percent lead over former President
Donald Trump and a head to head matchup that's a
(00:41):
nationwide pole. That is the poll that the latest five
thirty eight poll that came out that really doesn't matter.
It does tell you kind of a little bit of
a trend, but it doesn't really matter because Trump leads
Biden in seven of the eight key swing states Chigan,
we have a small lead for Trump, Pennsylvania, Wisconsin, Georgia,
(01:04):
North Carolina, Arizona, and Nevada. That all according to the
newest poll coming out from Forbes.
Speaker 2 (01:11):
That's what really matters. Now. There's been a lot of.
Speaker 1 (01:14):
Democrats behind the scene They're like, can we replace this guy?
Can we get rid of him? How do we get
rid of him? And ultimately it's going to come down
to Joe Biden. If Joe Biden says I'm not going
to drop out, then it's never going to happen, and
they can talk all they want. The other option they
had was to stop funding to Joe Biden, and that
clearly is not going to happen. Now. Donald Trump did
(01:34):
outraise Joe Biden in the last quarter. That was just reported,
but in all fairness, that was also when Donald Trump
was convicted in New York and people gave like never before,
So I don't know what the numbers would have been
without that court case. Now Democrats right now are in
a very weird situation because they're trying to tell you
(01:55):
that Joe Biden is like the smartest guy ever. Democrats
in the media that that's all they're saying now is
he's his best version of hisself. He's incredible, he's doing great.
And then behind the scenes are like, can we get
rid of this guy? How do we get rid of
this guy? How quick can we get rid of this guy?
What happens if we get rid of this guy, what
do we do to push him out? So there's a
(02:15):
really big debate happening. Senator Dick Durbin all Right said
this today, stories about Biden dropping out or dropping off
the tick of the summer or fall are simply, quote bizarre,
is what he said to The Hill newspaper. Senator Richard Blumenthalt,
Democrat from Connecticut, also getting on the record because there's
(02:37):
been a lot of speculation swirling, so he said, quote,
I've heard no credible plan B, and I'm not counting
on a plan B. Senator John icken Looper, Democrat Colorado
acknowledged Democratic voters quote are alarmed over poles showing Trump
has a solid chance of beating Biden the fall, saying,
quote everyone seen the polls, and I think people are
(02:59):
so alarmed that we could elect someone who's kind of
revealed themselves to be a demagogue.
Speaker 2 (03:06):
That's what he said, referring to Donald Trump.
Speaker 1 (03:08):
Now, the media is also trying to figure out how
do they play this. Do they cheerlead for the president
so they keep having access to his campaign, or do
they tell the truth.
Speaker 2 (03:18):
Well, we now know what they're going to do.
Speaker 1 (03:20):
It is clearly to lie to the American people and
try to convince you that Joe Biden is in an
amazing spot. I've got a montage of the media I
want to play for you, and it also is going
to be comparing the real Joe Biden what he says
on stage.
Speaker 2 (03:34):
None of what I'm going to play for you is edited.
Speaker 1 (03:37):
This is all unedited, real audio of the President of
the United States of America in public at public events,
speaking or during interviews.
Speaker 2 (03:46):
And then you're going to hear in between.
Speaker 1 (03:48):
The media telling you that Joe Biden is this amazing,
incredible guy that is not has zero cognitive declined. Before
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Speaker 2 (05:42):
Now, take a listen to this montage.
Speaker 1 (05:45):
You're gonna hear the media telling you that Joe Biden
is in perfect health, nothing wrong with him, no cognitive decline.
Speaker 2 (05:52):
And then you're gonna hear the President in his own.
Speaker 4 (05:54):
Words, because I'm about to tell you the truth and
few if you can't handle the truth. This version of
Biden is the best Biden ever.
Speaker 3 (06:05):
Do you know?
Speaker 2 (06:06):
He knows so long.
Speaker 4 (06:09):
In fact, I think he's better than he's ever been.
Speaker 5 (06:12):
President Biden has a photographic memory, His understanding and mastery
of a complicated geopolitical situation remarkable.
Speaker 6 (06:21):
He is sharp, intensely probing and detail oriented and focused.
Speaker 2 (06:26):
Jackie, you here, Jackie, I think be here.
Speaker 1 (06:31):
I was sitting, you know, a two feet from him
across the table, and he was, you know, intense.
Speaker 4 (06:37):
It's have trouble walking sometimes, yeah, so did that pr
he wanted gd war.
Speaker 2 (06:42):
But he's totally focused. He's very sharp, they say he's
sharpened meetings and so on. Very lucid, little, very well informed.
Speaker 7 (06:48):
Biden's stately and he comes with gravitas.
Speaker 8 (06:50):
There hasn't been, as far as I know, a single
claim that Biden made a mistake.
Speaker 2 (06:57):
Agism is an issue.
Speaker 6 (06:58):
Americans have a rich history of holding people's physical characteristics
against them.
Speaker 2 (07:03):
Okay, you can ask African Americans.
Speaker 9 (07:05):
He's older, that doesn't mean that he is unfit.
Speaker 10 (07:08):
And there's a lot of ages in there now.
Speaker 6 (07:10):
This age attack, this obsession by the right Joe Biden
may not be able to speak for himself the way
that he used to.
Speaker 11 (07:16):
They want to think it is to take on government
if we get out of line, which they're talking on
again about and him lying around.
Speaker 5 (07:25):
I think people should be speaking up for Joe Biden.
Speaker 6 (07:27):
Americans and reporters in the media are just judging him
by physical appearance, and it's for of the unfair age
is an ascent.
Speaker 9 (07:36):
He showed exactly how with it he is.
Speaker 5 (07:38):
The flip side of this coin is that he has
a tremendous amount of wisdom and experience.
Speaker 6 (07:43):
Have you heard any concerns from anyone who has met
with President Biden about seeming a little slower, no more.
Speaker 4 (07:51):
Wild speculation from a bunch of people who have probably
never been in a room with Joe Biden and certainly
don't have medical degrees that.
Speaker 2 (07:57):
I'm aware of. You don't get paid for performance be president.
You don't. The job is not a job of endurance.
Speaker 12 (08:04):
I don't see Donald Trump out by riding.
Speaker 2 (08:06):
Like Joe Biden.
Speaker 9 (08:07):
It's the Hillary's email.
Speaker 2 (08:08):
All they have is that he's.
Speaker 9 (08:09):
On he can clear a dementia bar and that's probably
a win.
Speaker 4 (08:13):
The media are not fair, and they're getting less and
less fair, and things are frightening. You have you have
Wall Street Journal running a hardly source.
Speaker 2 (08:23):
Piece saying that Biden is unfited.
Speaker 13 (08:24):
You'd be a small Street General report about the president's acuity.
Speaker 8 (08:28):
Shoddy story by the Wall Street Journal questioning Biden's mental fitness.
Speaker 6 (08:32):
Wall Street Journal story and had a lot of flaws,
as you said, but sin clear they didn't do any
original reporting, they didn't follow up, they didn't do any work.
Speaker 3 (08:40):
Here.
Speaker 11 (08:40):
This today is hersh Gilbert poland he's still he is
not here, but he's still being held by a man.
Speaker 9 (08:48):
But a huge part of the Mulla report talks about
Russian disinformation tactics.
Speaker 2 (08:52):
And one of the things.
Speaker 9 (08:53):
This election cycle is that Joe Biden is too old
to lead, and so everyone is seizing upon this, and
it is a class this information tactic, and I think
the best thing that we can do is to prepare
the American people for this false narrative.
Speaker 2 (09:06):
It's a false narrative.
Speaker 1 (09:08):
If you think the President of the United States of
America is not sharp, don't.
Speaker 2 (09:13):
Believe your lying eyes.
Speaker 1 (09:14):
Right, Biden's brain is sharper than ever, sharper than yours,
I tell you. And it's a narrative, a terrible narrative
if you don't believe us. You know, there's also that
saying that his actions speak louder than words, and the
actions of many Democrats are saying they believe that Joe
Biden is on a cognitive decline. By the way, as well,
there's a new report out that says an anxious Barack
(09:37):
Obama has quote become increasingly involved in the Biden campaign.
Former President Barack Obama and many of his former colleagues
in the White House are heavily involved in Joe Biden's
White House. They're heavily involved in making a lot of
money off Joe Biden's presidential campaign, and many of the
things that Joe Biden is doing is because of the
(09:57):
people that used to work in the Obama administration.
Speaker 2 (10:00):
They're basically running the government.
Speaker 1 (10:02):
Clearly, since Joe Biden is not well, former President Barack Obama,
we now are being told, especially after his recent moment
where he had to lead Joe Biden off the stage,
they said, oh, just best buddies putting their arm around
one another.
Speaker 2 (10:16):
That's not what the video showed. But hey, don't believe
you're lying. Eyes right.
Speaker 1 (10:20):
He has increasingly involved himself in the Biden campaign. This
is what sources have told the New York Magazine. Now
that is not a conservative publication. New York Magazine quote.
Obama's involvement reportedly began after Biden campaign officials realized in
late twenty twenty three that they would face former President
Donald Trump in a historic rematch, and they knew they
(10:42):
need to bring in the big guns. Trump has about
a two and three chance of completing the greatest political
comeback in modern political history. That is what an Economists
modal forecast says in June.
Speaker 2 (10:57):
In addition, seventy.
Speaker 1 (10:58):
Three percent of voters think Biden is to a to
be an effective president. That coming from a New York
Times survey in March, including sixty one percent who supported
Biden back in twenty twenty saying now he's just too old.
That's where Obama's role came in. Obama's role also includes
(11:18):
consulting with O'Malley Dillon that's Biden's campaign chair, and Anita Donn,
a Biden aid who worked with Obama. He advises on
digital budget strategy, assists in hands on public relations work
with Hollywood celebrities and fundraisers for the president as well.
New York Magazine is now reporting quote as he's become
(11:39):
more plugged into the Biden political thinking. Obama speaks more
often with O'Malley Dillon, the campaign chair and functionally it's executive,
including about Biden's effort to target hard to persuade young
and black voters. At the same time, operatives in Obama's
personal office coordinate with Biden's campaign to make sure Obama's
(12:01):
in the loop on campaign updates, and he has kept
in regular touch with the White House side as well,
checking in with two or more of his former aides,
including the chief of staff Jeff Zinis and Donn a
senior advisor, though his anxiety about the election is real.
The words of one Obama friend, the ex president concern
(12:23):
sounded a lot like those of other top Democrats. According
to others they've spoke with, what are they worried about?
Speaker 2 (12:31):
Well, they're worried about.
Speaker 1 (12:33):
The cognitive decline and focus of Joe Biden. Those who
are in regular touch with Obama say he sees nerves
that are not a reflection of quote, any particular angst
about Biden or his team, but of the broader reality.
The country is closely divided, the media landscape is fractured,
(12:55):
and Donald Trump may well win this upcoming twenty twenty
four presidential election. Obama is always acknowledged to friends and
supporters that he is worried. He's worried about this nail
bider and it will likely be a nail biterer, is
what he's said privately to many Democrats at fundraisers. Yet
he has remained careful about not well inciting any specific
(13:20):
concern or complacency about the campaign itself aware that reports
about his feelings are unlikely to help the Democratic cause,
so he knows he has to play it cool.
Speaker 2 (13:33):
This year.
Speaker 1 (13:34):
He is highly likely to reprise his role as one
of Biden's most prominent surrogates come the fall. He has
also gotten publicly involved earlier than many anticipated. Just this month,
he joined Biden on stage in Los Angeles to do
some heavy lifting for his second splashy campaign fundraiser, this
one featuring George Clooney, Julia Roberts, Jimmy Kimmel. Between bashes
(13:59):
like that, unless clamorous efforts, the ex president has already
brought in more than six million for Biden that according
to a Democrat familiar with the campaign numbers. He has
filmed ten video clips that the Biden team has used
as digital advertisements, and more are likely to come depending
on what those issues obviously will be. Both presidents are
(14:21):
working out of the exact contours of Obama's role in
Biden's campaign, just as the relationship enters a new chapter
defined by Trump's possible return and with it, a threat
to their joint legacy. Obama's hand on help has not
appeared to always benefit Biden. A video on Sunday showed
(14:41):
Obama guiding Biden off the stage at a fundraiser, obviously
making the President of the United States America Joe Biden.
Speaker 2 (14:48):
Look well, feeble, old and weak.
Speaker 1 (14:52):
The other thing is, yeah, it was prominent because you
had Joe Biden that was being let off by Barack Obama.
But the bigger question is if he didn't do it,
somebody else would have. Now, the video came amid several
videos that shoe Biden. As it's been described, this is
coming for the New Yorker malfunctioning in public, raising concerns
(15:13):
that Obama intentionally tried to sabotage Biden by walking him
off stage.
Speaker 2 (15:18):
Those rumors are apparently not true.
Speaker 1 (15:21):
The White House claim the video was quote a cheap fake,
meaning don't believe your lying eyes.
Speaker 2 (15:28):
So you look at this going.
Speaker 1 (15:30):
Into the debate on Thursday, and there's two things you
need to be ready for. One, the media is going
to try to tell you that anything less than normal
is amazing for Joe Biden. And they're going to raise
the stakes in the next couple of days to make
it seem like this debate is clearly Donald Trump's to lose.
(15:53):
They're going to put all the pressure they can publicly
on Donald Trump to just shine, and they're going to
lower the bar substantially for the president of the United
States of America. And as they do this, they're doing
it because they understand this is the best strategy. If
Joe Biden shows up and just does an average job,
(16:13):
that will be described by the media as an unbelievable success.
That's how you push these narratives out there. Now, there's
also sarrogates that are saying they don't think that the
president's in a good spot right now. There are many
that are well, very concerned that even with moderator Jake Tapper,
who's obsessed with Donald Trump and has compared him to
(16:36):
a Nazi multiple times. They also are concerned about Dana Bash,
a hardcore lefty who also is on the record countless
times on CNN hating on Donald Trump. Those two are
supposed to save him in the first debate. Will they
be able to possibly, it's going to be a three
against one debate. It'll be Jake Tapper, Dana Bash, and
(16:57):
Joe Biden against Donald Trump. But what if that doesn't work?
What then happens? Well, the White House will then lie
to you. They'll tell you that you know that there's
these these quote cheap fakes that happen right, cheap fakes
where any video you see of Joe Biden that makes
(17:17):
him not look good. They want you to believe that
it's actually doctored, put together and isn't really him.
Speaker 2 (17:24):
That's what they're going to say.
Speaker 1 (17:26):
So if he has a bad night, they're gonna hope
that a lot of Americans didn't actually see it. They're
gonna hope that a lot of swing voters didn't actually
see it.
Speaker 2 (17:36):
They're gonna sit there and tell.
Speaker 1 (17:38):
You don't believe the clips that you're seeing on social media.
They're ai, they're cheap fakes, they're not real. They're going
to tell you that over and over again. Let me
also say one other thing about the media and and
them lowering, as I described, expectations, But while they're lowering expectations,
they're also going out after anyone that points out the obvious.
(18:03):
I'll go back to Stay of the Union, and it
was very clear that Joe Biden when he walked out
to get that Say of the Union was jacked up.
I don't know what he was on, but like in
the first five minutes, go back and look at my tweet,
and I was like, I don't know what he's on,
but whatever they gave him, I want some of that
he came out talking really fast, his eyes were barely blinking.
Speaker 2 (18:26):
He was, as I describe it, jacked up Joe.
Speaker 1 (18:30):
I said this last week on TV at Fox when
I was in New York. He was jacked up Joe.
There's two different Joe Biden's. There's a Joe Biden of
Debate Night and Joe Biden of the State of the Union,
and then there's the.
Speaker 2 (18:42):
Every day Joe Biden.
Speaker 1 (18:43):
And he goes for an entire week we as we've
been told now to go to his camp able to
do prepare.
Speaker 2 (18:49):
What's he doing there?
Speaker 1 (18:50):
First joke, I said, because it's not really a joke,
and you know it's real. I said, he's like go
in there to to prepare. He's going there to sleep.
The best thing that they can do for Joe Biden
is get Joe Biden to go to sleep. Like that's
just the truth. I don't think that's being mean, because
(19:10):
how much can you prepare this guy for when you've.
Speaker 2 (19:13):
Got to basically just get him jacked up.
Speaker 1 (19:15):
Now the media is furious over this, all right. Sand
M's Jim Acosta is slamming Fox News for parenting claims
about jacked up Biden, comparing it now to birthersm Listen
to this from CNN preparing their audience for the debate
(19:36):
in case jacked up Joe, I guess doesn't show up
the entire night.
Speaker 2 (19:39):
I think is.
Speaker 13 (19:40):
Really interesting is also how we're seeing the campaign try
to manage expectations. I want you to listen to some
pretty vulgar language and runner hick that Donald Trump used
at his Philadelphia rally.
Speaker 2 (19:50):
Take a listen to what he.
Speaker 1 (19:51):
Said, by the way, the vulgar language, you know, really
vulgar language, right, you know they just played that out
like this is some really vulgar language and rhetoric from
Donald Trump. You're gonna laugh because it's not vulgar like
the way they're describing it. And this really just terrible rhetoric, right,
You're going to laugh because this is how much they'll
(20:13):
overplay it.
Speaker 2 (20:13):
Listen, and right.
Speaker 3 (20:15):
Now, Crooked Joe's gone to a log cabin to study prepare.
Speaker 2 (20:21):
No, he didn't. He's sleeping now because they want to
get him good and strong, so a little.
Speaker 3 (20:29):
Before debate time, he gets a shot in the ass
and that's.
Speaker 2 (20:34):
They want to strengthen him up.
Speaker 3 (20:35):
He'll come out, okay, I say, he'll come out, all
jacked up, right, all jacked up.
Speaker 13 (20:44):
So clearly this is Donald Trump's version of trying to
raise expectations.
Speaker 2 (20:49):
Awful, We should just be clear.
Speaker 13 (20:50):
I mean, there is no and you know this as well,
there's no evidence that Joe Biden has ever taken a
performance enhancing drug that he's planning to. But this is
how Donald Trump is playing off his out and whatnot.
Speaker 1 (21:00):
But I do, by the way, can we just laugh
that the fact that they're they're now saying, well, there's
no proof that Donald that Joe Biden has ever taken
a performance enhancing drug. The fact that they're covering it
is just amazing, Like it's exactly what Donald Trump wanted
them to do because now they're actually having to talk
(21:21):
about it and now people are going to be looking
for it, and they just took the bait. From that standpoint,
I want to say, I absolutely love this, Like this
is amazing to me.
Speaker 2 (21:32):
That's number one. But keep listening.
Speaker 13 (21:33):
You find it fascinating because we know for months now,
Donald Trump himself but also his team, I've been painting
Joe Biden as this weak and feeble candidate, arguing he's senile,
that he can barely stand on the debate stage for
the ninety minutes that has allotted on Thursday. But now
they're recognizing that's actually not working in their favor because
the bar will be too low for Joe Biden. So
we're seeing them try to raise expectations, and I think
(21:55):
I know throughout this week they're going to have a
lot of Donald Trump's surrogates and advisors on the air
waves trying to do exactly that.
Speaker 12 (22:01):
All right, yeah, they have to pick one. Is it senile?
Is it jacked up? It's one or the other at.
Speaker 2 (22:06):
This point, pick which one?
Speaker 11 (22:07):
Right?
Speaker 1 (22:07):
Did you hear that, Like, well, you got to pick
is it senile or jacked up? Well, the point is
he's senile, So therefore they got to juice him. They
got to jack him up to get him ready for
the debate. I don't have to pick one or the other, Jim.
As much as these guys at CNN say this, you
just got to laugh. So they go from the hard
news report and then they go into the commentary. Okay,
(22:28):
now listen to the commentary aspect of this.
Speaker 2 (22:31):
It's amazing.
Speaker 12 (22:33):
Try to just Chuck Roache and CNN senior political commentator
Scott Jennings Chuck, I mean, what do you make of
all of this and also the rhetoric that Trump is
using heading into this debate. I mean, it almost sounds
like he's road testing a new berther Lie with this
jacked up business. You know, it's just people will say
always just joking, but I mean they're saying it over
and over again. Nobody's ever made this kind of allegation
(22:56):
about Joe Biden his entire political career, even though he's
been in Washington fifty plus years.
Speaker 10 (23:00):
It's why it makes it so hard to prepare for him,
and I think that's why Joe Biden's taken so much
time to prepare it.
Speaker 2 (23:05):
I've done debate prep before.
Speaker 10 (23:07):
You look at all the statements and things that somebody does,
and normally as a campaign they have a professional team
around him and they stay on a certain message. You
never know what you're going to get out of Donald Trump,
so you have to prepare for everything. To the point,
the two folks were just talking about which one of
the Donald Trump's actually show up, and then how do
you actually debate prepa gets somebody that spews so much
misinformation or disinformation. I think that's the biggest challenge for
(23:28):
Joe Biden.
Speaker 12 (23:28):
Yes, Scott, I mean, what's with all this jacked up business?
Speaker 8 (23:31):
Oh, this is a running commentary on the right since
the State of the Union when Biden came out rather
aggressively yelling at the Congress that night. So I think
Trump is riffing off of that joke that's been going
around in Republican circles.
Speaker 1 (23:45):
I think Chuck by the way, by the way, I
love how they like even there Scott Jennings, And I'm sorry,
I got to disagree with Scott on this one, Like,
come on, dude, he's like, oh, it's a joke in
Republican circles. Every American that the watch what happened at
the State of the Union knows exactly what you're talking
about and what jacked up Joe actually means. It was
(24:07):
clear that Joe Biden came out of the gates during
that debate and was jacked up on something. I don't
know what it is, but I know it wasn't the
normal Joe Biden that we see. And you could say, well,
he was just excited about to say.
Speaker 2 (24:20):
Of the Union.
Speaker 1 (24:21):
I don't believe that crap for a second either. I
don't believe that for a half a second.
Speaker 2 (24:27):
And they know this all right, they're not stupid.
Speaker 1 (24:31):
But if you want, I guess, keep your job now, CNN,
you just got to lie to the American people and
tell them what you're witnessing is not, in fact what
you're witnessing. It's again, don't believe your lying eyes. That's
what their defense is on all of this. He is competent,
he is great, His plans, his policies are incredible. Right,
(24:53):
that's what they say. That's that's what they're gonna tell you.
I go back to the economy. The media keeps lying
to you about the economy right now, telling you that
Bidenomics somehow worked, it didn't work, and then they say, well,
don't jump out the worst economy ever, that's what they'll
tell you. Take a listen to this on Fox Business
(25:15):
talking about this aspect of where we are our life.
Speaker 11 (25:18):
For I begin with you modern monetary theory. What is
it exactly? Alas for you oric grave diggers.
Speaker 14 (25:26):
Well, what they say is they can go unlimited amounts
of borrowing because the markets will tolerate it at low
interest rates. But the problem with modern monetary theory, Larry,
is really very very simple.
Speaker 2 (25:38):
You know if you use it.
Speaker 14 (25:39):
If you borrow a two percent and use the money
to create economic growth and have yields of five percent,
you should borrow a lot. You're making profits and you're
creating a better country like we did with Reagan.
Speaker 2 (25:50):
Larry, that's right.
Speaker 14 (25:51):
But when you borrow money no matter what price, and
you use it to pay people not to work and
to destroy economic value, then you shouldn't borrow it all.
But they're borrowing all this stuff and they're using the
money badly, and by using it badly, they've created the
Biden economy, which is a catastrophe. I mean, if you
compare that with the Reagan I mean, with a Trump economy,
(26:12):
it's just amazing the juxtaposition there. I mean, nothing matches
Trump's first term in office until COVID hit, and nothing
matches that it was the best economy I think in
a first term.
Speaker 12 (26:23):
Ever.
Speaker 1 (26:25):
I agree with him, by the way, but that's not all.
You also have this comment about binomics. Listen, well, Steve Moore.
Speaker 11 (26:34):
Let's just go into this because people may not recognize
the term modern monetary theory. Okay, but what you're talking
about is basically endless or limitless spending borrowing. And the
other key is the modern monetary theory. People who do
populate the Biden administration unlimited money printing.
Speaker 2 (26:54):
Right.
Speaker 11 (26:55):
They argue that because the dollar is the world's reserve currency,
quote unquote, for the moment, we could the government could
or the Federal Reserve could buy all the bonds that
are sold, could print all the money necessary. And that's
really the clincher for modern monetary theory. They're not worried
about inflation, they're not worried about regulation, as Arthur said,
(27:19):
they're not worried about sluggish growth. Now have they been
proven right or wrong so far?
Speaker 7 (27:25):
Well, it's important for people to realize where this came from.
Remember Larry and Arthur. When Obama was president, he remember
his eight hundred billion dollar so called stimulus plan with
the shupled ready projects, and it did not stimulate the economy.
The economy did terrible over the next four years. They
never came anywhere close to the three to four percent target.
(27:45):
And so what was the reaction. The reaction should have been, well,
that all this spending and debt doesn't really work. And
what they just what they came up with, there's this idea,
oh no, asked Paul Kruman. He said, they didn't spend
and borrow enough money. You know, if they just borrow
up for five trillion dollars more, it would have worked.
So Biden comes in and buys this craft pop theory,
(28:05):
which is very convenient for him because he wanted to
spend the money anyway. And now we have this experience, right,
and now we'd have this experiment with Bidenomics, and it
is modern monetary theory. And the point of our piece
that Arthur I wrote is who have been the victims
of this?
Speaker 2 (28:20):
Well, the middle class, Larry.
Speaker 7 (28:21):
Because the prices have gone up by twenty percent, incomes
are only up sixteen or seventeen percent, So the average
American is poor as a result of this. So this
idea does not work. Hopefully we can we can put
it in the grave. It's pour salt on the soil,
so the idea never comes back.
Speaker 2 (28:41):
Could not agree more. This is how they're going to
lie to you.
Speaker 1 (28:45):
That's why I do this show to tell you you're
now prepared for it. And this is what they're going
to do until election day, and they're certainly going to
go all in on it now more than ever. The
week of this debate to try to convince you that
if he has a bad nine night, that if his
policies aren't clicking with you, if the economy's not doing well,
(29:06):
that well, you just need to believe us that actually
things are not just good, things are great. Make ssure
you share this podcast with your family and your friends,
and I'll see you back here tomorrow morning,
Host
Ben Ferguson
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