June 15, 2022 • 30 mins
Home values are going to increase dramatically. Homes are usually people's biggest investment and now, interest rates are increasing 2 points. This is what Joe Biden has cost each and every American!
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Speaker 1 (00:00):
Day three hundred and five and day three eighteen, since
Joey promised he wouldn't abandoned Americans behind enemy lines, in fact,
he did more than we even thought, and thousands with
the American Green cards and our Afghan allies that he
also promised, We're not going to abandon you. We promised,
we promised you, and he abandoned them all. If you're
(00:22):
not following the news today, you've been busy. The Fed
now launched their biggest broadside, raising the benchmark interest rates
a whopping three quarters of a percentage point in a
move that is the single biggest hike since nineteen ninety four. Now,
(00:44):
this is going to have a huge impact on the economy.
Their ideas the economy inflation, it's overheated. We need to
slow it down. Well, slowing it down is going to
impact people's lives dramatically, And even the Fed and economists
are now saying, yeah, job growth has gone us pretty
(01:05):
much stall out, and if you don't have a job,
you better try and get one fast. Let me give
you a quick little math. Summery, Let's say you buy
a four hundred thousand dollars home. Okay, let's say you
put down twenty five percent one hundred grand. Let's say
you got in not at the lowest part, but you know,
at a good rate of three point seven five percent. Now,
(01:28):
many of you might have locked in in the twos,
many of you locked in the low threes because you're refinanced.
These rates today will see really low compared to a
year or two years from now. What marked my words?
If in fact Goldman, Sacks and all these economists are
right and we're gonna have another six or eight rate hikes,
all right, let's say so three point seven five percent rate,
(01:50):
thirty year term, and you know taxes will just assume
you know average tax rate, I don't know, thirty two
hundred dollars, okay, and somebody sent me this today. Now,
if you had a three point seven five interest rate
on a three hundred thousand dollars loan, you put twenty
five percent down, your monthly payment for your home would
(02:12):
be one thousand, nine hundred and eighty one dollars. Okay. Now,
let's jump to close to where we were yesterday, well,
six point three to five percent before the point seventy
five percentage point basis point increase, the biggest in nineteen
ninety four for four today's rate increase, and you're paying
(02:34):
thou six six and a half whatever percent somewhere in there,
same home, four hundred grand, same down payment, twenty five percent.
You put down one hundred grand, so you're borrowing three
hundred thirty year term, same taxes. Well, because of the
interest rate hike, you know, three percent, little less than
(02:55):
three percent, instead of paying one thousand, nine hundred and
eighty one on that same home, will be two thousand,
five hundred thirty seven dollars. All right, Now you're adding
another full point on top of it. So now we're
going to be over seven percent. Well, now you can
add another six hundred dollars or so to your monthly payment.
(03:16):
And what does that mean for the economy? What does
that mean in just the housing industry? And I know
many people have been looking at the stock market. The
stock market's great. Your four O one K is great
until you actually extract it and take that money out.
Until then it is subject to market forces. That's the
(03:37):
stupidity of the insanity of the idea. We're going to
tax people on their projected capital gains. Well, it's not
a gain until you actually sell something or sell something
off or sell a stock offer. You buy a business
and maybe it's worth a million dollars one day, but
by the time you sell it, it's worth five hundred thousand,
(04:00):
and yet you've already paid taxes on it. Do you
get a refund? It's insanity. It's not a realized gain.
But Democrats they want to pick your pocket anyway they can.
So what's going to happen with these great price increases?
Let me tell you what's going to happen As a
former contractor, New home construction is going to now come
to a screeching halt. That's actually good if you're looking
(04:23):
to get a contractor, because they've been pretty unavailable in
recent years, which I say good for them. I did
that ten years of my life. It's hard work. They're
they're now going to struggle as an industry. Mark my words.
New home construction pretty much gonna come to a screeching halt.
Now what's the next impact of all of this, Well,
(04:43):
with rising interest rates, as I just pointed out to you,
that means you're going to have fewer people getting into
the wanting to buy a new home because it's now
become dramatically more expensive. For them to do so, So
what does that mean. That means sales of existing homes
(05:05):
will drop significantly. What does that mean for homeowners? Well,
the valuation that maybe you had before Joe Biden was president,
or maybe in the first year of his presidency and
home buying was going wild, and especially in places like
Florida and Tennessee. You know, you'd have an open house
(05:26):
and fifteen people would show up and people would start
bidding above asking price. That's all gonna come to a
screeching halt. Also, because you won't have as many buyers
out there, you won't have as many people in the
market out there, and home values will decrease, probably rather dramatically.
And homes are usually people's biggest investment. So it's going
(05:51):
to hurt, and it's only gonna get worse. This is now.
We've raised interest rates two and a quarter points, including
today's rate. That now means is a two wait, but
I think it's two. I think it's two full points,
two basis points. So this is where we are. This
is what Joe Biden's economic and energy policies have now cost. Now,
(06:18):
this is where I keep going back to the issue
of oil and gas Hannity or broken records. I'm not
a broken record. We were energy independent. We didn't need
to be begging these countries that hate our guts, like
a Ran and Saudi Arabia and OPEC Nations and Venezuela
and Russia. We have enough natural resources available in this country.
(06:42):
It's good for national security, it's good for job creation,
it's good in terms of lowering the price of gas.
You're significantly increasing the world supply. That will, if demand
remains constant, that will drive down the price. That also
will have an impact on everything we've every store we
go to because the rigs, the eighteen wheelers that bring
(07:05):
and deliver the goods to the stores, they'll be paying
less in terms of diesel prices and they can lower
their rates and we will be the beneficiaries of such,
and the cost of production for manufacturers that will go
down as well. This is not complicated economics, but this
is where we now are and all we get are Well,
(07:25):
when we get to renewable energy independence, then you can
expect your prices to be reduced. Well, somebody needs to
show me the science behind all of this, because none
of this technology they're talking about exist at a level
that we could afford it. That makes the transition possible.
(07:45):
So in the meantime they're living on their fantasy land
thinking that what we're just going to suck it up
at five dollars plus a gallon for gasoline and more
for diesel in the meantime. By the way, there or
get less lectured about how we need an electric car.
By the way, I happen to like Ford Motor Company.
(08:05):
This is not a hit on them, but they have
now issued a recall for forty nine thousand they have
of their electric Ford Mustangs manufactured between May of twenty
twenty and May of twenty twenty two. Anyway, a huge
chunk of their Mustang electric vehicle fleet, almost all of them.
(08:26):
They've now been instructed dealers have been instructed to stop
selling them if they were produced between that period while
it develops a fix for forty eight nine and twenty
four Mustang owners that have experienced overheating, startup problems, loss
of power. Let me repeat loss of power. And I'm
(08:48):
not saying I'm against electric cars. I had a hybrid once,
not quite the same, but it is what it is.
So we now also now think of the other impact
of all of this people now because of Biden's high
energy cost, all of this preventable. This is what really
angers me the most. We did not have to go
(09:10):
down this insane road. This was promised by Biden. He
delivered on his promise, and we're all suffering as a
result of his adherence to this climate alarmist religious cult,
new green deal cult of his. But now, okay, look
at America's retailers. Well Wall Street Journal read. The journal
(09:33):
points out Americans retail spending in May declined because consumers
are feeling the pinch from inflation, high gas prices, rising
interest rates that are making car purchases more expensive. By
the way, if you think cars that they can't produce
enough of, if you can find one, you're usually paying
above MSRP. Now if you're gonna, if you're gonna take
(09:56):
out a loan to get that car, if you're gonna
finance it, it's even gonna cau more. Anyway, retail sales
are now down. We now see also spending its stores,
all spending online restaurants that all has has dropped in
May more than the previous month. The Commerce Department saying
today first declined month over month in retail spending in
(10:19):
a year. I mean, if you look at Biden inflation
and the scoreboard, you know we're paying double digits more
for meat and poultry and eggs and non alcoholic drinks
and dairy and cereal and bakeries and any restaurant you
go to, you pay them more there too as well.
I mean, this is a this is now a self
(10:42):
induced crisis. Now, the normal thing to do would be
to look at your policies and say, maybe we're doing
something wrong. No, they double down. Joe Biden and I'll
play this at the bottom of the air. You're gonna
love this screaming screeching at the AFL CIO yesterday. I mean,
you can't even make it up. He's just making one
delusional comment after another. Where changing lives And I'm like, yeah,
(11:07):
you're changing lives for the worst. I mean, everything you've
done is now hurting us. Now they're writing letters to
the oil companies. Why don't they go and look at
the oil company profit margins over the years. Now they
have years, they make billions of dollars they do. It's
a lifeblood of the world's economy. If you're in the
oil business, to risky business. But I can show you
(11:28):
years like twenty twenty one or I'm sorry, twenty twenty
where Chevron lost five and a half billion dollars or
in twenty sixteen four hundred and seventy nine million dollars,
or Exon lost twenty two point four billion in twenty twenty.
So they have years where they do really well. Or
Devin Energy well, they lost in twenty twenty one two
(11:51):
point eight billion, they lost in twenty twenty two point
seven billion, they lost in twenty nineteen three one hundred
and fifty five million pioneer natural resources. Now with the
other thing we have is because of bureaucratic regulation and Democrats.
And because now Democrats, Ron Widen or first Joe Biden
sends a letter to oil company executives blaming them for
(12:15):
his freaking policies. We can go back to the policies
that he inherited. He is the one that has burdened
the country by killing off the Keystone XL pipeline, banning
drilling in anmore, pausing all new oil and gas permits
on federal lands, restricting fracking, slowing down production of a
(12:35):
slew of new regulations, and yeah, our refineries. We were
almost at one hundred percent capacity as it is. And
liberals and leftists and climate alarmist cult members don't want
to build new refineries because it might pollute the planet
and they don't like fossil fuels, so they cause that
problem on top of every other problem I'm taking you know, now,
(12:58):
in the long term, I have a little hope, but
it's going to take a change in power. You're going
to have to vote for people. Let's support liberty, freedom, capitalism,
our constitution, energy independence, border security, common sense, less bureaucracy,
lower taxes. That's it. It's that simple. So here we
(13:23):
have record gas prices in our climate. Our alarmis guru.
John Curry had this to say energy security, where he
is driving a lot of the thoughts now about oh,
we need more drilling of ga. We need more drilling
in this. We need to go back to cole No,
we don't, We absolutely don't. And we have to prevent
a false narrative from entering into this or again pun intended,
(13:47):
we are cooked. Yeah, we do need to. And Joey
is just he's about to go over to Saudi Arabia. Now,
this is what joe said as a candidate about Saudi Arabia.
We have that cut somewhere. Apparently we don't have it. Anyway,
He said he would make the Saudi Arabian government the
(14:08):
pariah and accused MBS of killing Jamal Kashogi. And now
Joe Biden's going to Saudi Arabia and they want to
tell us and convince us that he's not going there
to talk about energy or oil. Now we know them
trying to make a deal with the Iranian Mullahs that
would give them money that has not been that has
(14:31):
been frozen for them because of their ties to terrorism
and their threats against most other countries in the world.
They're not going to give them billions of dollars, and
they're going to allow them to partner with Russian build
a nuclear facility. And they want the Iranian Revolutionary Guard
off the terror watch list. And then we're going to
(14:52):
import oil from Iran and make them rich or make
Venezuela rich. Now we're going to make the Saudi's rich
and OPEC rich. And we have all the natural resources
right here in this country. If he just returned to
the Trump policies and rescind his idiotic green policies that
he implemented on all of us solid as a rock, honest, truthful.
(15:32):
This is the Sean Hannity Show. By the way, twenty
five to the top of the hour. This has just broken.
Apparently doctor Anthony Fauci, the head of the US pandemic
response from the NIH highest paid government official, has now
tested positive for COVID nineteen. He says he's experiencing mild symptoms.
(15:54):
According to the NIH doesn't say what he will be
doing in terms of treatment. We wish him well, but
he along with everybody else. If you remember when they
were pushing their vaccines, they did, if you get vaccinated,
you're not gonna get covid. Okay, Now people are vaccinated
and they got their second first shot, they get the
(16:16):
second shot, then they get the first booster, then they
get the second booster. Then they even get infected with covid.
But started with delta variant and breakthrough cases and you
have natural immunity, and then people are getting it twice
and still they are running out of monoclonal antibodies and
they don't They've took them forever to get the you
(16:37):
know what do you call paxilovid? The anti virals out
there by the way choke of the day, Hillary Clinton
slamming the mainstream media is too reluctant to call a
lie a lie and take on the battle between democracy
and authoritarianism. The woman that signed off on the two
biggest lies and conspiracy theories probably history, you know, Trump
(17:03):
Tower and Alpha Bank connected to Russia. Lie. She signed
off on it. She paid for the dirty disinformation dossier
full of lies about Trump Russia collusion. Good grief. You know,
did you wipe your server clean? You mean, like with
a cloth? You mean, is that what you mean? We
(17:23):
live in amazing times, don't we. Anyway, So you've got
all of these issues, all of these problems. The only
one good thing I heard out of the Biden administration.
They're considering instituting a federal gas tax holiday. You may
not know this, but every time you fill up every
gallon of gasoline, eighteen point three cents a gallon for
(17:45):
regular twenty three I'm sorry, twenty four point three cents
per gallon of diesel. Remember that cost gets passed on
to us anyway, is what the federal government gets. Now
when you break it down, for example, there they're so
against tobacco companies. They make a fortune off tobacco companies.
It's it's unbelievable. You know, Biden is out there and
(18:09):
he's claiming, you know that, you know, we're changing lives. Oh,
you're you're changing lives. I'll use Joe's frame for God's sakes, Joe,
you're full of malarkey, because the malarkey never stops. Joe
doubling down on his absolute stupidity. Now, notice where this
came from. He's been signaling set it, even on Kimmel's show,
(18:31):
that his problem is communications. We're just not telling the
American people about all her success. And then he lies
and tells the American people average families save nine thousand
dollars more since I've been president. Wrong, Actually just the
opposite is true, or so they're saving more money. So
he doubles down on his stupid economic and energy policies.
(18:52):
I don't want to hear any more of these reckless
lies on spending that's coming from every economist that is
saying they over spent and didn't need the money that
he approved in this extra COVID build when he became president.
And yeah, his policies are changing lives forever. You're right,
you know now we have a forty one two year
(19:13):
high of inflation, a tanking stock market, a looming recession,
the highest gas prices we've ever paid, on average, over
five dollars a gallon for gasoline. You know, the stimulus
money that he dumped on the economy, two trillion dollars.
Want to know why the Fed is working so hard
raising interest rates and destroying the economy even further almost
(19:36):
and by the way, way too late. It's not it's
not going to have the impact that they think it's
gonna have. It's going to be even more disaster. You know.
He blames Donald Trump, he blames Vladimir Putin, he blames
everybody but himself and his climate alarmism. And he has
his climate you know, alarmist leader, the climate change expert
(19:56):
John Kerry, the guy with his own private jets flying
a around now in government private jets with a big
carbon footprint every time it gets on board as plane.
Wouldn't have a problem if he didn't lecture us about
the use of fossil fuels. We're absolutely don't need to
drill for more oil or more gas. All right, Well,
he's got a fortune, so he can to fill up
(20:17):
his jet anytime he wants. Have you seen the price
of airline tickets recently, mister Kerry, I tend to doubt
you have. Now Joey's going to go to Saudi Arabia.
I just mentioned this at the bottom of the hour
as we were going to break This is the same
guy that said this during the campaign. Listen. The State
Department also says the Saudi government is responsible for executing
(20:39):
non violent offenders and for torture. President Trump has not
punished senior Saudi leaders, would you yes? And I said
it at the time because show he was in fact
murdered and dismembered, and I believe in the order of
the Crown Prince and I would make it very clear
we were not going to infect more weapons to them.
(21:01):
We were going to in fact make them pay the
price and make them, in fact the pariah that they are.
There's very little social redeeming value of in the present
government in Saudi Arabia. And I would also, as pointed out,
I would end end subsidies that we have, end the
sale of material to the Saudist where they're going in
(21:22):
and murdering children, and they're murdering innercent people and so
they have to be held accountable. More malarkey from Joey.
Joey's now going to Saudi Arabia. Now, usually when you're
with another head of state, he's going to meet with
the Crown Prince. They usually have a joint press conference. Now,
how much would you want to bet Joe Biden wouldn't
(21:44):
have the let me say this in a way that
is not deemed as toxic masculinity. Let me get it right.
Let's just say he wouldn't have enough toxic masculinity to
say it right to the guy's face. How's that that
was pretty good? Right? I mean Ward Smith here, he's
not going to say that to the Crown Prince's face.
(22:07):
And he said, oh no, we're not going to make
an oil deal. You're lying. He's going there to get
and encourage Saudi Arabia to use their influence on OPEC
nations to produce more energy because he's too stupid to
produce it here and use our own natural resources. Do
you know the world thinks we're stupid, at least our
(22:29):
leaders are stupid. The American people aren't stupid. The American
people understand that we can be energy independent. American people
remember Trump said, do you like your two dollars gallon gasling? Yeah,
I'd like my two dollars gallon gasoline. Yeah. I don't
like paying twice what I paid last year at the
grocery store either. You know, Joey's saying he's changing people's lives,
(22:49):
okay for the worst with you know, the highest inflation
in forty one years, highest gas prices in history. Lashing
out of he goes to the speech screaming and yelling
yesterday at the AFL CIO, you know, pointing out asserting
that the economic problem facing Americans came from outside forces. No,
(23:11):
they came from your policies, Joey. Sorry. Ari Fleischer said
last night on the TV show that it's the first
president to ever run on saying that the American people
are wrong about the economy. No, the American people are
right about the economy because they feel it and live
it every single day. And then there's lecture in this
letter that he's sending oil companies wrong. Joe you know,
(23:35):
if your policies would allow them to reduce the price
of oil, you're the one that would put these restrictive
policies on them. Department of Energy saying they were selling
another forty five million barrels of oil from these strategic
petroleum reserve. By the way, we have to refill them
for an emergency. It is a band aid. I told
(23:55):
you then it was a band aid. It dropped prices
for a short period of time me like a month,
and then they went right back up. So it's a
band aid solution. It's not the answer you have some places.
We're nearly in California, nearly ten dollars a gallon for gasoline.
California state average six dollars and forty three cents per
(24:16):
gallon for gasoline. I mean, it's unbelievable. It's frankly unbelievable.
And they wonder why they're about to get the shellacking
in the midium. They're about to I don't know if
you saw what happened. And we'll get to this. In
the thirty fourth Congressional District, Myra Flores won every county
(24:36):
I believe, but one. The last time I look late
last night a Republican. It was a thirty eight point
swing in terms of Democrat versus Republican. And she is
a Republican, and she's gonna I think she's gonna be
a rising star in the party. So only eight mortgage
rates were up yesterday to six point two percent for
(24:59):
a thirty year mortgage. A week earlier was five point five.
Now that we went up point seven five basis points
today three quarters of a point. So now we're going
to be over seven percent for a thirty year mortgage.
If you used the example that I gave you earlier,
if you can put one hundred grand down, four hundred
thousand dollars house financed three hundred thousand of it, say
(25:22):
you had a rate at three point seven five, now
you're gonna get up. You're literally paying hundreds of thousands
of dollars more over the course of your loan. I
mean literally hundreds of thousands. Wholesale prices went up ten
point eight percent in May, a near record annual pace.
What does that mean? The Producer Price Index that the
(25:45):
measures the prices paid to producers of goods for services.
That's up month to month ten point eight percent over
the past year. The monthly rise in line with the
Dow Jones, which, by the way, is you know, been
taken one hit after another. An article Yahoo Finance property
values falling all across Europe, and now with these rate increases,
(26:11):
the housing market is going to stop. I'll tell you
where it's not going to be as bad. Florida, Texas,
Tennessee and the Carolinas Andnity. Why why are you guessing that?
Because people are moving there and demand will still remain
at a reasonable rate. It will be lower, but it's
not going to be you know, bidding over asking price.
(26:33):
It's not going to be those conditions. But with all
the people that are saying the hell with this and
getting out of these these Adam Schiffhols states like New
York and California and New Jersey and Illinois, they're all
leaving to save money and have a better life. I
mean Florida is a perfect example. They take in half
(26:54):
of the amount in taxes as New York. They're infrastructures
a thousand times better than New York. It's unbelievable, and
a lot of people what do we do with our money?
By the way, for those of you who thought you
were going to be billionaires with crypto, you're taking a
pretty big hit too. But I think everybody knew, as
I had said at the time, Remember Linda, we talked
(27:15):
about it. H don't put anything that you're not willing
to lose on crypto. I actually think it. I think
it might come back. I mean Ethereum's down below a thousand.
That's a low as it's ben since I got on
the market. Yeah, it's been well, no, it was. I
know people that bought it a two hundred um, but
it was since it's four thousand and and bitcoin was over.
(27:35):
It's about sixty seven hundred dollars at one point. I'm
saying to much to go down that much if you
have your money in crypto, bitcoin, ethereum, whatever it is,
and to lose that much money, it's a big hit
right now. And that's a lot. I mean, Ethan I
were just talking about it. If you're in the housing
market and this is where you had all your capital,
you're in trouble anyway. Myra flores By the Way flips
(27:59):
this Texas House district read in the special election. Good
for her. I know she'll have a new district when
she runs in November, but she seems like a real
rising star. Oh yeah, we have one of the radical
nut Jobs squad members predicting quote civil war if Republicans
take back the House. Congresswoman Jamal Bowman, I don't even
(28:22):
know where the person's from anyway. Over the weekend, said
bar white right nationalists could be emboldened to start another
civil war. Republicans went back the majority in Congress after
November's midterms. Okay, good luck with that. We'll see how
that works out. By the way, Biden, Democrats media, none
of them cared about the assassination plot against Justice Kavanaugh.
(28:45):
Took Nancy Pelosi over a month to pass security for
Supreme Court justices. None of them condemn the dosing of
giving out these justices addresses or giving out the school
name of Amy Coney Barrett's kids in the that she
goes to and how often she goes to church. This
is sick anyway. A new GOP election integrity measure has
(29:09):
the Washington Post nervous. RNC is spending millions this year
in sixteen critical states on a push to recruit thousands
of poll workers and watchers. Most states have laws that
say partisan observers get to watch the vote counts start
to finish. That didn't happen in twenty twenty, all, Hannity,
you're an election denier. No, it didn't happen. We didn't
(29:32):
follow the law. We should follow the law if we
want to have confidence and results in integrity in our elections.
That's all I'm saying. In Pennsylvania, they need to follow
their constitution instead of passing a bill, they needed to
put forward a constitutional amendment. They didn't do that, by
the way, Trump said. Anyway, Trump congratulated Nancy May so
(29:53):
he didn't endorse in that case. Five term Republican congressmen
who voted to impeach Donald Trump. Tim Rice of South Carolina.
He's been ousted from Congress. This one seat, Myra Flores
is huge. I mean that is a
Day three hundred and five and day three eighteen, since
Joey promised he wouldn't abandoned Americans behind enemy lines, in fact,
he did more than we even thought, and thousands with
the American Green cards and our Afghan allies that he
also promised, We're not going to abandon you. We promised,
we promised you, and he abandoned them all. If you're
(00:22):
not following the news today, you've been busy. The Fed
now launched their biggest broadside, raising the benchmark interest rates
a whopping three quarters of a percentage point in a
move that is the single biggest hike since nineteen ninety four. Now,
(00:44):
this is going to have a huge impact on the economy.
Their ideas the economy inflation, it's overheated. We need to
slow it down. Well, slowing it down is going to
impact people's lives dramatically, And even the Fed and economists
are now saying, yeah, job growth has gone us pretty
(01:05):
much stall out, and if you don't have a job,
you better try and get one fast. Let me give
you a quick little math. Summery, Let's say you buy
a four hundred thousand dollars home. Okay, let's say you
put down twenty five percent one hundred grand. Let's say
you got in not at the lowest part, but you know,
at a good rate of three point seven five percent. Now,
(01:28):
many of you might have locked in in the twos,
many of you locked in the low threes because you're refinanced.
These rates today will see really low compared to a
year or two years from now. What marked my words?
If in fact Goldman, Sacks and all these economists are
right and we're gonna have another six or eight rate hikes,
all right, let's say so three point seven five percent rate,
(01:50):
thirty year term, and you know taxes will just assume
you know average tax rate, I don't know, thirty two
hundred dollars, okay, and somebody sent me this today. Now,
if you had a three point seven five interest rate
on a three hundred thousand dollars loan, you put twenty
five percent down, your monthly payment for your home would
(02:12):
be one thousand, nine hundred and eighty one dollars. Okay. Now,
let's jump to close to where we were yesterday, well,
six point three to five percent before the point seventy
five percentage point basis point increase, the biggest in nineteen
ninety four for four today's rate increase, and you're paying
(02:34):
thou six six and a half whatever percent somewhere in there,
same home, four hundred grand, same down payment, twenty five percent.
You put down one hundred grand, so you're borrowing three
hundred thirty year term, same taxes. Well, because of the
interest rate hike, you know, three percent, little less than
(02:55):
three percent, instead of paying one thousand, nine hundred and
eighty one on that same home, will be two thousand,
five hundred thirty seven dollars. All right, Now you're adding
another full point on top of it. So now we're
going to be over seven percent. Well, now you can
add another six hundred dollars or so to your monthly payment.
(03:16):
And what does that mean for the economy? What does
that mean in just the housing industry? And I know
many people have been looking at the stock market. The
stock market's great. Your four O one K is great
until you actually extract it and take that money out.
Until then it is subject to market forces. That's the
(03:37):
stupidity of the insanity of the idea. We're going to
tax people on their projected capital gains. Well, it's not
a gain until you actually sell something or sell something
off or sell a stock offer. You buy a business
and maybe it's worth a million dollars one day, but
by the time you sell it, it's worth five hundred thousand,
(04:00):
and yet you've already paid taxes on it. Do you
get a refund? It's insanity. It's not a realized gain.
But Democrats they want to pick your pocket anyway they can.
So what's going to happen with these great price increases?
Let me tell you what's going to happen As a
former contractor, New home construction is going to now come
to a screeching halt. That's actually good if you're looking
(04:23):
to get a contractor, because they've been pretty unavailable in
recent years, which I say good for them. I did
that ten years of my life. It's hard work. They're
they're now going to struggle as an industry. Mark my words.
New home construction pretty much gonna come to a screeching halt.
Now what's the next impact of all of this, Well,
(04:43):
with rising interest rates, as I just pointed out to you,
that means you're going to have fewer people getting into
the wanting to buy a new home because it's now
become dramatically more expensive. For them to do so, So
what does that mean. That means sales of existing homes
(05:05):
will drop significantly. What does that mean for homeowners? Well,
the valuation that maybe you had before Joe Biden was president,
or maybe in the first year of his presidency and
home buying was going wild, and especially in places like
Florida and Tennessee. You know, you'd have an open house
(05:26):
and fifteen people would show up and people would start
bidding above asking price. That's all gonna come to a
screeching halt. Also, because you won't have as many buyers
out there, you won't have as many people in the
market out there, and home values will decrease, probably rather dramatically.
And homes are usually people's biggest investment. So it's going
(05:51):
to hurt, and it's only gonna get worse. This is now.
We've raised interest rates two and a quarter points, including
today's rate. That now means is a two wait, but
I think it's two. I think it's two full points,
two basis points. So this is where we are. This
is what Joe Biden's economic and energy policies have now cost. Now,
(06:18):
this is where I keep going back to the issue
of oil and gas Hannity or broken records. I'm not
a broken record. We were energy independent. We didn't need
to be begging these countries that hate our guts, like
a Ran and Saudi Arabia and OPEC Nations and Venezuela
and Russia. We have enough natural resources available in this country.
(06:42):
It's good for national security, it's good for job creation,
it's good in terms of lowering the price of gas.
You're significantly increasing the world supply. That will, if demand
remains constant, that will drive down the price. That also
will have an impact on everything we've every store we
go to because the rigs, the eighteen wheelers that bring
(07:05):
and deliver the goods to the stores, they'll be paying
less in terms of diesel prices and they can lower
their rates and we will be the beneficiaries of such,
and the cost of production for manufacturers that will go
down as well. This is not complicated economics, but this
is where we now are and all we get are Well,
(07:25):
when we get to renewable energy independence, then you can
expect your prices to be reduced. Well, somebody needs to
show me the science behind all of this, because none
of this technology they're talking about exist at a level
that we could afford it. That makes the transition possible.
(07:45):
So in the meantime they're living on their fantasy land
thinking that what we're just going to suck it up
at five dollars plus a gallon for gasoline and more
for diesel in the meantime. By the way, there or
get less lectured about how we need an electric car.
By the way, I happen to like Ford Motor Company.
(08:05):
This is not a hit on them, but they have
now issued a recall for forty nine thousand they have
of their electric Ford Mustangs manufactured between May of twenty
twenty and May of twenty twenty two. Anyway, a huge
chunk of their Mustang electric vehicle fleet, almost all of them.
(08:26):
They've now been instructed dealers have been instructed to stop
selling them if they were produced between that period while
it develops a fix for forty eight nine and twenty
four Mustang owners that have experienced overheating, startup problems, loss
of power. Let me repeat loss of power. And I'm
(08:48):
not saying I'm against electric cars. I had a hybrid once,
not quite the same, but it is what it is.
So we now also now think of the other impact
of all of this people now because of Biden's high
energy cost, all of this preventable. This is what really
angers me the most. We did not have to go
(09:10):
down this insane road. This was promised by Biden. He
delivered on his promise, and we're all suffering as a
result of his adherence to this climate alarmist religious cult,
new green deal cult of his. But now, okay, look
at America's retailers. Well Wall Street Journal read. The journal
(09:33):
points out Americans retail spending in May declined because consumers
are feeling the pinch from inflation, high gas prices, rising
interest rates that are making car purchases more expensive. By
the way, if you think cars that they can't produce
enough of, if you can find one, you're usually paying
above MSRP. Now if you're gonna, if you're gonna take
(09:56):
out a loan to get that car, if you're gonna
finance it, it's even gonna cau more. Anyway, retail sales
are now down. We now see also spending its stores,
all spending online restaurants that all has has dropped in
May more than the previous month. The Commerce Department saying
today first declined month over month in retail spending in
(10:19):
a year. I mean, if you look at Biden inflation
and the scoreboard, you know we're paying double digits more
for meat and poultry and eggs and non alcoholic drinks
and dairy and cereal and bakeries and any restaurant you
go to, you pay them more there too as well.
I mean, this is a this is now a self
(10:42):
induced crisis. Now, the normal thing to do would be
to look at your policies and say, maybe we're doing
something wrong. No, they double down. Joe Biden and I'll
play this at the bottom of the air. You're gonna
love this screaming screeching at the AFL CIO yesterday. I mean,
you can't even make it up. He's just making one
delusional comment after another. Where changing lives And I'm like, yeah,
(11:07):
you're changing lives for the worst. I mean, everything you've
done is now hurting us. Now they're writing letters to
the oil companies. Why don't they go and look at
the oil company profit margins over the years. Now they
have years, they make billions of dollars they do. It's
a lifeblood of the world's economy. If you're in the
oil business, to risky business. But I can show you
(11:28):
years like twenty twenty one or I'm sorry, twenty twenty
where Chevron lost five and a half billion dollars or
in twenty sixteen four hundred and seventy nine million dollars,
or Exon lost twenty two point four billion in twenty twenty.
So they have years where they do really well. Or
Devin Energy well, they lost in twenty twenty one two
(11:51):
point eight billion, they lost in twenty twenty two point
seven billion, they lost in twenty nineteen three one hundred
and fifty five million pioneer natural resources. Now with the
other thing we have is because of bureaucratic regulation and Democrats.
And because now Democrats, Ron Widen or first Joe Biden
sends a letter to oil company executives blaming them for
(12:15):
his freaking policies. We can go back to the policies
that he inherited. He is the one that has burdened
the country by killing off the Keystone XL pipeline, banning
drilling in anmore, pausing all new oil and gas permits
on federal lands, restricting fracking, slowing down production of a
(12:35):
slew of new regulations, and yeah, our refineries. We were
almost at one hundred percent capacity as it is. And
liberals and leftists and climate alarmist cult members don't want
to build new refineries because it might pollute the planet
and they don't like fossil fuels, so they cause that
problem on top of every other problem I'm taking you know, now,
(12:58):
in the long term, I have a little hope, but
it's going to take a change in power. You're going
to have to vote for people. Let's support liberty, freedom, capitalism,
our constitution, energy independence, border security, common sense, less bureaucracy,
lower taxes. That's it. It's that simple. So here we
(13:23):
have record gas prices in our climate. Our alarmis guru.
John Curry had this to say energy security, where he
is driving a lot of the thoughts now about oh,
we need more drilling of ga. We need more drilling
in this. We need to go back to cole No,
we don't, We absolutely don't. And we have to prevent
a false narrative from entering into this or again pun intended,
(13:47):
we are cooked. Yeah, we do need to. And Joey
is just he's about to go over to Saudi Arabia. Now,
this is what joe said as a candidate about Saudi Arabia.
We have that cut somewhere. Apparently we don't have it. Anyway,
He said he would make the Saudi Arabian government the
(14:08):
pariah and accused MBS of killing Jamal Kashogi. And now
Joe Biden's going to Saudi Arabia and they want to
tell us and convince us that he's not going there
to talk about energy or oil. Now we know them
trying to make a deal with the Iranian Mullahs that
would give them money that has not been that has
(14:31):
been frozen for them because of their ties to terrorism
and their threats against most other countries in the world.
They're not going to give them billions of dollars, and
they're going to allow them to partner with Russian build
a nuclear facility. And they want the Iranian Revolutionary Guard
off the terror watch list. And then we're going to
(14:52):
import oil from Iran and make them rich or make
Venezuela rich. Now we're going to make the Saudi's rich
and OPEC rich. And we have all the natural resources
right here in this country. If he just returned to
the Trump policies and rescind his idiotic green policies that
he implemented on all of us solid as a rock, honest, truthful.
(15:32):
This is the Sean Hannity Show. By the way, twenty
five to the top of the hour. This has just broken.
Apparently doctor Anthony Fauci, the head of the US pandemic
response from the NIH highest paid government official, has now
tested positive for COVID nineteen. He says he's experiencing mild symptoms.
(15:54):
According to the NIH doesn't say what he will be
doing in terms of treatment. We wish him well, but
he along with everybody else. If you remember when they
were pushing their vaccines, they did, if you get vaccinated,
you're not gonna get covid. Okay, Now people are vaccinated
and they got their second first shot, they get the
(16:16):
second shot, then they get the first booster, then they
get the second booster. Then they even get infected with covid.
But started with delta variant and breakthrough cases and you
have natural immunity, and then people are getting it twice
and still they are running out of monoclonal antibodies and
they don't They've took them forever to get the you
(16:37):
know what do you call paxilovid? The anti virals out
there by the way choke of the day, Hillary Clinton
slamming the mainstream media is too reluctant to call a
lie a lie and take on the battle between democracy
and authoritarianism. The woman that signed off on the two
biggest lies and conspiracy theories probably history, you know, Trump
(17:03):
Tower and Alpha Bank connected to Russia. Lie. She signed
off on it. She paid for the dirty disinformation dossier
full of lies about Trump Russia collusion. Good grief. You know,
did you wipe your server clean? You mean, like with
a cloth? You mean, is that what you mean? We
(17:23):
live in amazing times, don't we. Anyway, So you've got
all of these issues, all of these problems. The only
one good thing I heard out of the Biden administration.
They're considering instituting a federal gas tax holiday. You may
not know this, but every time you fill up every
gallon of gasoline, eighteen point three cents a gallon for
(17:45):
regular twenty three I'm sorry, twenty four point three cents
per gallon of diesel. Remember that cost gets passed on
to us anyway, is what the federal government gets. Now
when you break it down, for example, there they're so
against tobacco companies. They make a fortune off tobacco companies.
It's it's unbelievable. You know, Biden is out there and
(18:09):
he's claiming, you know that, you know, we're changing lives. Oh,
you're you're changing lives. I'll use Joe's frame for God's sakes, Joe,
you're full of malarkey, because the malarkey never stops. Joe
doubling down on his absolute stupidity. Now, notice where this
came from. He's been signaling set it, even on Kimmel's show,
(18:31):
that his problem is communications. We're just not telling the
American people about all her success. And then he lies
and tells the American people average families save nine thousand
dollars more since I've been president. Wrong, Actually just the
opposite is true, or so they're saving more money. So
he doubles down on his stupid economic and energy policies.
(18:52):
I don't want to hear any more of these reckless
lies on spending that's coming from every economist that is
saying they over spent and didn't need the money that
he approved in this extra COVID build when he became president.
And yeah, his policies are changing lives forever. You're right,
you know now we have a forty one two year
(19:13):
high of inflation, a tanking stock market, a looming recession,
the highest gas prices we've ever paid, on average, over
five dollars a gallon for gasoline. You know, the stimulus
money that he dumped on the economy, two trillion dollars.
Want to know why the Fed is working so hard
raising interest rates and destroying the economy even further almost
(19:36):
and by the way, way too late. It's not it's
not going to have the impact that they think it's
gonna have. It's going to be even more disaster. You know.
He blames Donald Trump, he blames Vladimir Putin, he blames
everybody but himself and his climate alarmism. And he has
his climate you know, alarmist leader, the climate change expert
(19:56):
John Kerry, the guy with his own private jets flying
a around now in government private jets with a big
carbon footprint every time it gets on board as plane.
Wouldn't have a problem if he didn't lecture us about
the use of fossil fuels. We're absolutely don't need to
drill for more oil or more gas. All right, Well,
he's got a fortune, so he can to fill up
(20:17):
his jet anytime he wants. Have you seen the price
of airline tickets recently, mister Kerry, I tend to doubt
you have. Now Joey's going to go to Saudi Arabia.
I just mentioned this at the bottom of the hour
as we were going to break This is the same
guy that said this during the campaign. Listen. The State
Department also says the Saudi government is responsible for executing
(20:39):
non violent offenders and for torture. President Trump has not
punished senior Saudi leaders, would you yes? And I said
it at the time because show he was in fact
murdered and dismembered, and I believe in the order of
the Crown Prince and I would make it very clear
we were not going to infect more weapons to them.
(21:01):
We were going to in fact make them pay the
price and make them, in fact the pariah that they are.
There's very little social redeeming value of in the present
government in Saudi Arabia. And I would also, as pointed out,
I would end end subsidies that we have, end the
sale of material to the Saudist where they're going in
(21:22):
and murdering children, and they're murdering innercent people and so
they have to be held accountable. More malarkey from Joey.
Joey's now going to Saudi Arabia. Now, usually when you're
with another head of state, he's going to meet with
the Crown Prince. They usually have a joint press conference. Now,
how much would you want to bet Joe Biden wouldn't
(21:44):
have the let me say this in a way that
is not deemed as toxic masculinity. Let me get it right.
Let's just say he wouldn't have enough toxic masculinity to
say it right to the guy's face. How's that that
was pretty good? Right? I mean Ward Smith here, he's
not going to say that to the Crown Prince's face.
(22:07):
And he said, oh no, we're not going to make
an oil deal. You're lying. He's going there to get
and encourage Saudi Arabia to use their influence on OPEC
nations to produce more energy because he's too stupid to
produce it here and use our own natural resources. Do
you know the world thinks we're stupid, at least our
(22:29):
leaders are stupid. The American people aren't stupid. The American
people understand that we can be energy independent. American people
remember Trump said, do you like your two dollars gallon gasling? Yeah,
I'd like my two dollars gallon gasoline. Yeah. I don't
like paying twice what I paid last year at the
grocery store either. You know, Joey's saying he's changing people's lives,
(22:49):
okay for the worst with you know, the highest inflation
in forty one years, highest gas prices in history. Lashing
out of he goes to the speech screaming and yelling
yesterday at the AFL CIO, you know, pointing out asserting
that the economic problem facing Americans came from outside forces. No,
(23:11):
they came from your policies, Joey. Sorry. Ari Fleischer said
last night on the TV show that it's the first
president to ever run on saying that the American people
are wrong about the economy. No, the American people are
right about the economy because they feel it and live
it every single day. And then there's lecture in this
letter that he's sending oil companies wrong. Joe you know,
(23:35):
if your policies would allow them to reduce the price
of oil, you're the one that would put these restrictive
policies on them. Department of Energy saying they were selling
another forty five million barrels of oil from these strategic
petroleum reserve. By the way, we have to refill them
for an emergency. It is a band aid. I told
(23:55):
you then it was a band aid. It dropped prices
for a short period of time me like a month,
and then they went right back up. So it's a
band aid solution. It's not the answer you have some places.
We're nearly in California, nearly ten dollars a gallon for gasoline.
California state average six dollars and forty three cents per
(24:16):
gallon for gasoline. I mean, it's unbelievable. It's frankly unbelievable.
And they wonder why they're about to get the shellacking
in the midium. They're about to I don't know if
you saw what happened. And we'll get to this. In
the thirty fourth Congressional District, Myra Flores won every county
(24:36):
I believe, but one. The last time I look late
last night a Republican. It was a thirty eight point
swing in terms of Democrat versus Republican. And she is
a Republican, and she's gonna I think she's gonna be
a rising star in the party. So only eight mortgage
rates were up yesterday to six point two percent for
(24:59):
a thirty year mortgage. A week earlier was five point five.
Now that we went up point seven five basis points
today three quarters of a point. So now we're going
to be over seven percent for a thirty year mortgage.
If you used the example that I gave you earlier,
if you can put one hundred grand down, four hundred
thousand dollars house financed three hundred thousand of it, say
(25:22):
you had a rate at three point seven five, now
you're gonna get up. You're literally paying hundreds of thousands
of dollars more over the course of your loan. I
mean literally hundreds of thousands. Wholesale prices went up ten
point eight percent in May, a near record annual pace.
What does that mean? The Producer Price Index that the
(25:45):
measures the prices paid to producers of goods for services.
That's up month to month ten point eight percent over
the past year. The monthly rise in line with the
Dow Jones, which, by the way, is you know, been
taken one hit after another. An article Yahoo Finance property
values falling all across Europe, and now with these rate increases,
(26:11):
the housing market is going to stop. I'll tell you
where it's not going to be as bad. Florida, Texas,
Tennessee and the Carolinas Andnity. Why why are you guessing that?
Because people are moving there and demand will still remain
at a reasonable rate. It will be lower, but it's
not going to be you know, bidding over asking price.
(26:33):
It's not going to be those conditions. But with all
the people that are saying the hell with this and
getting out of these these Adam Schiffhols states like New
York and California and New Jersey and Illinois, they're all
leaving to save money and have a better life. I
mean Florida is a perfect example. They take in half
(26:54):
of the amount in taxes as New York. They're infrastructures
a thousand times better than New York. It's unbelievable, and
a lot of people what do we do with our money?
By the way, for those of you who thought you
were going to be billionaires with crypto, you're taking a
pretty big hit too. But I think everybody knew, as
I had said at the time, Remember Linda, we talked
(27:15):
about it. H don't put anything that you're not willing
to lose on crypto. I actually think it. I think
it might come back. I mean Ethereum's down below a thousand.
That's a low as it's ben since I got on
the market. Yeah, it's been well, no, it was. I
know people that bought it a two hundred um, but
it was since it's four thousand and and bitcoin was over.
(27:35):
It's about sixty seven hundred dollars at one point. I'm
saying to much to go down that much if you
have your money in crypto, bitcoin, ethereum, whatever it is,
and to lose that much money, it's a big hit
right now. And that's a lot. I mean, Ethan I
were just talking about it. If you're in the housing
market and this is where you had all your capital,
you're in trouble anyway. Myra flores By the Way flips
(27:59):
this Texas House district read in the special election. Good
for her. I know she'll have a new district when
she runs in November, but she seems like a real
rising star. Oh yeah, we have one of the radical
nut Jobs squad members predicting quote civil war if Republicans
take back the House. Congresswoman Jamal Bowman, I don't even
(28:22):
know where the person's from anyway. Over the weekend, said
bar white right nationalists could be emboldened to start another
civil war. Republicans went back the majority in Congress after
November's midterms. Okay, good luck with that. We'll see how
that works out. By the way, Biden, Democrats media, none
of them cared about the assassination plot against Justice Kavanaugh.
(28:45):
Took Nancy Pelosi over a month to pass security for
Supreme Court justices. None of them condemn the dosing of
giving out these justices addresses or giving out the school
name of Amy Coney Barrett's kids in the that she
goes to and how often she goes to church. This
is sick anyway. A new GOP election integrity measure has
(29:09):
the Washington Post nervous. RNC is spending millions this year
in sixteen critical states on a push to recruit thousands
of poll workers and watchers. Most states have laws that
say partisan observers get to watch the vote counts start
to finish. That didn't happen in twenty twenty, all, Hannity,
you're an election denier. No, it didn't happen. We didn't
(29:32):
follow the law. We should follow the law if we
want to have confidence and results in integrity in our elections.
That's all I'm saying. In Pennsylvania, they need to follow
their constitution instead of passing a bill, they needed to
put forward a constitutional amendment. They didn't do that, by
the way, Trump said. Anyway, Trump congratulated Nancy May so
(29:53):
he didn't endorse in that case. Five term Republican congressmen
who voted to impeach Donald Trump. Tim Rice of South Carolina.
He's been ousted from Congress. This one seat, Myra Flores
is huge. I mean that is a
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