August 1, 2022 • 27 mins
Speaker Pelosi is traveling and is likely to stop in Taiwan as a measure of support. Sean covers the visit and the confusing posture of the Biden administration.
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Speaker 1 (00:00):
Day number three fifty two. All right, yep, Day three
sixty five, one full year ago. Since Joey promised he'd
never abandoned Americans and the Islamic Emirates of Afghanistan one
full year ago. Today he made that promise thirteen days later.
(00:21):
Guess what he abandoned them eight hundred ninefold when Shawn
our number. If you want to be a part of
the program, we got a lot of economic news. We'll
get through in the course of the program. Today we're
obviously watching the Chinese government. Our enemies threatened to take
the plane with the Speaker of the House, Nancy Pelosi,
(00:41):
out of the sky and shoot down Nancy Pelosi's plane.
He had a tweet posted Friday by the Chinese government
controlled media outlet threatening to shoot the plane down if
she dares to visit Taiwan. It was quietly deleted by Saturday.
Was the threat reel? Does it represent the official position
a president? She's government? Based on the phone call with
(01:02):
Biden late last week, it sounds like you play with fire,
you get burned. There were a lot of threats on
that call. You know what's so frustrating about it is
all of the things that Biden should have been asking
President Chi about his unfair trade practices, about intellectual property, theft,
about saber rattling with Taiwan, about the origins of COVID nineteen,
(01:26):
and why did you put your travel ban in effect
long before Donald Trump did by prohibiting people in Wuhan
Province from traveling inside anywhere withinside of China. But it
was perfectly fine for them to travel around the world
and spread whatever it was that was going on there
that you knew about around the world, and then demanding
compensation from China, you know, free and fair trade practices.
(01:48):
None of that came up. Joe just sat there and
got lectured and threatened by President She It's pretty despicable anyway.
So they pulled down the threat that they put up.
I guess on Twitter and routers pointed out the prominent
Chinese the commentators said. On Saturday, they deleted the tweet
warning of military retaliation should the US fighter jets escort
(02:09):
Nancy Pelosi on any visit to to Taiwan after Twitter
blocked the account. Now Pelosi number three in line. You know,
she's two heartbeats away from the president. Put aside Democrat,
Republican for just a minute here, and she'd be third
in line in terms of presidential secession now after Biden
(02:30):
and Kamala Harris. And anyway, it was signaled on Friday
she was embarking on the trip to Europe. Now, if
you look at the official itinerary that they have put out,
Taiwan is noticeably absent from the itinerary. Now, all reports
are that she probably is going to go there, and
I'll explain that in a second. But if you look
at state tabloid media and what they wrote on what's
(02:54):
being conveyed to the people of China that if the
US military sends fighter jets to escort Pelosi to Taiwan,
then the move would take a vile nature of such
a visit and would constitute aggression, and our fighter jets
should deploy all obstructive tactics if those are still ineffective.
(03:14):
So anyway, we have a pretty large military presence in
the region and tensions are running high, and Newsweek is
raising the possibility the now deleted tweet didn't represent the
official position of the Chinese government. Well, they pretty much
made the same threat on the phone call. Now it
raises questions. Now if you look at the media in Taiwan.
(03:36):
They are reporting that Pelosi schedule to arrive Tuesday night.
Taiwanese media outlets reporting Pelosi would arrive Tuesday night local
time after visiting Malaysia on the second leg of our
ongoing Asia trip, making the Speaker the highest ranking US
elected official to visit the country since then. How Speaker
(03:57):
new Cambridge did in nineteen ninety seven, he'll join us later.
But by the way, the same threats or similar threats
were made when newt was going there back then. The
island nation's three largest newspapers all reporting that the Democratic
Congressional delegation led by the Speaker would spend Tuesday night
in Taipei. Pelosi's office previously confirmed that she would visit Singapore, Malaysia,
(04:20):
South Korea, Japan, but didn't say whether Taiwan was on
the itinerary. She has scheduled to be in Malaysia on Tuesday,
south Korea on Thursday. Her schedule for Wednesday remains unclear.
Down do you really believe that that America should capitulate?
This is an allied country of the United States of America,
(04:42):
and if they're threatening to shoot down a high ranking
US official is it anything other than an act of
war because it is an unprovoked attack. Are elected officials
can visit any Allied country anytime they want, whether they
like it or not. At this point, Nancy Pelosi doesn't
(05:05):
have a choice. Joe Biden does not have a choice
because unless they want to show nothing but weakness and
the ability to be intimidated by the communist Chinese, they
better get her to Taiwan. Now, do I think anything
is going to happen? I do not so. I think
that they're crazy, insane people all throughout history. You have
(05:27):
to take it seriously. You take every threat seriously. But China's,
you know, Pelosi threat needs to also be a wake
up call. You know, America does need to understand our
number one geopolitical foe. Now, Russia's Putin is all for
this showdown with China and the United States because he
(05:48):
doesn't like the fact that the United States has spoken
out against and supported Ukraine over the invasion of a
sovereign country by Putin and his hostel regime. But that's
neither here nor there. If China is actually going to
carry out their threat, that is a declaration of war.
That will be World War three, and if something that minor,
(06:10):
a minuscule were to trigger World War three, it means
it was gonna happen anyway. So we might as well
call them out on their threat and show a little
spine and a little backbone, and she better follow through
on the promise to make that visit now. Luckily for us,
with a threat against Pelosi's China's leaders have lifted the
veil of some very uncomfortable facts that we can't ignore
(06:34):
and that we have been telling people for the longest time.
China is not a friendly nation to us. It's a
hostile regime, just like Russia is, just like Iran is,
just like Venezuela is, just like North Korea is, just
like I would even argue the Saudis are. China is
not merely a competitor. They are an adversary, our number
(06:56):
one geopolitical foe. They're an enemy, an enemy that poses
a clear and present danger to America's future. They view
us as the enemy. The problem is, you know, why
didn't we see all of these hostility? Why is it
that Putin invades Crimea annects as Crimea when Joe Biden's
(07:19):
vice president, Obama's president, but they don't do anything when
Trump as president? How is it that Donald Trump finally
got the communist Chinese to agree to tariffs because he's
the only president to call him out on it. How
is it Joe Biden as he continues to make concessions
and capitulate to the Chinese? Why are we giving one
million barrels of our strategic petroleum reserves to China at
(07:44):
a time we're paying record prices for gasoline? Why is
he contemplating removing the tariffs that have been so effective
in terms of getting to the point in free of
fair trade with China that Donald Trump put in places.
Why is he considering doing any of this now? When
is he going to challenge them on the origins of COVID?
(08:05):
When is he going to challenge them on their never
ending intellectual property theft? I know a lot about intellectual
property theft because it happened to a friend of mine,
technology that he developed ripped off by the communist Chinese.
I mean, they stole every bit of it anyway. As
General Jack Keane and many others have warned recently, our
Pentagon has war gamed the possible outcome of any military
(08:28):
conflict between the US and China and the Pacific, and
they don't think that we're ready, and I would argue
that's probably true. That's what our military experts are telling us.
So nobody should be willing. Nobody should want a war
with China, period, end of sentence. Now they've made it
very clear when they talk about reunification, they're talking about
(08:50):
taking over Taiwan. I don't think the world is going
to lift a finger in that particular instance, because we've
allowed them to get this strong. So we'll have to
see what happens over time. But my guess is that
she has no choice but to go at this point.
And I don't think the communist Chinese are going to
(09:11):
shoot any plane out of the sky unless they unless
their desire is to have World War three, because that's
exactly what's going to happen. And over this I don't
see it. It's possible, but you know, the penalty that
we would pay by backing down to their threat is incalculable,
(09:32):
and the message it sends to the entire world, the
damage that would be done is incalculable. Um. The big
thing that has come out this weekend is just how
bad this this deal that it was struck between Schumer
and Joe Mansion. You know, if you look at the
resulting tax hike, for example, we did not raise taxes.
(09:54):
Mansion was on Fox News Sunday. Yes they did, as
they did this deal. As he did this deal with Schumer.
You know, he means the deal wouldn't raise the top
tax rates, but it does impose a fifteen percent corporate
minimum tax for businesses with more than a billion dollars
overwriting normal accounting rules, etc. Etc. And the resulting tax
hike three and thirteen billion, thereby targets companies whose business
(10:19):
is capital intensive, meaning they have to invest heavily to function.
So what Mansion is calling an all American bill slams
US manufacturing, which would suffer half the total tax hike,
or one hundred and fifty five point six billion dollars.
But what do I always tell you that in fact, Americans,
(10:39):
the American corporations don't pay taxes. The Congressional Joint Tax
Committee on Tax Station actually analyze the bill and they
found that taxes would go up sixteen point seven billion
dollars on you, the American people that make less than
two hundred thousand dollars just next year loan another fourteen
(11:01):
point one billion on people that make between two hundred
and five hundred thousand during the ten year window. The
average tax rate would go up for almost every single
income category. And they're not the only ones that have
taken the time to study what's actually in this bill.
For example, if you look at what the Wharton School
(11:22):
of Business is saying Upen that and by the way,
it's a joke that they call it the Inflation Reduction
Act of twenty twenty two because it does anything but
help inflation. That the breakthrough US legislative deal, key parts
of it won't reduce inflation at all, according to the
UPEN study, not at all, not one bit. And that's
coming from researchers that Senator Mansion says, whose vote was
(11:47):
crucial to sealing the deal, Joe Mansion. The study from
Upen Wharton Budget Model estimates the Act would cause inflation
to very slightly rise rather than be reduced. You know,
they always put these, you know, cute little names. It's
just the opposite of what a bill is. Oh, it's
the Inflation Reduction Act. It's doing nothing to reduce inflation,
(12:08):
not a thing. But it's going to raise taxes on
every single American at a time where we can not
least afford to do so. Then you have the Joint
Committee on Taxation saying nearly every income group is going
to see the tax hikes under the Schumer Mansion bill.
Then the people of West Virginia got to be asking
themselves what the hell did our senator give into this for?
(12:30):
Remember Biden's pledge, Oh, no new taxes on anyone that
makes less than four and at that thousand dollars a year.
Well that's not going to happen. Sixteen point seven billion
next year alone for Americans earning less than two hundred
thousand dollars a year, just on them. You know, Joe
Mansion does the full five Sunday shows and you would think, oh,
this is the second coming. Anyway, I got to take
(12:52):
a quick break. Eight hundred nine for one, Shawn our
number on this Monday. You know, the sad thing is
when you show we or you have a weak US
president like we do, because the world sees Joe as
weak and frail in a cognitive mess. You look at
the saber rattling by Iran. Oh, we could turn our
peaceful nuclear program into a weapons grade program overnight, and
(13:16):
that came out over the weekend. More saber rattling by
North Korea China. I'm sorry, Putin weighs in in full
support of China. I mean you think these are all
happening by accident, No, they're not. The Chinese military posting
of video boasting of their military might and videos of
their troops launching missiles, grabbing weapons, taking off in fighter jets. Quote.
(13:40):
If Pelosi insists on visiting Taiwan, China will take resolute
and strong measures to defend its sovereignty and territorial and integrity,
according to the Chinese Foreign Minister telling reporters today, and
that rhetoric comes after sources confirmed to the Wall Street
Journal Pelosi would be visiting Taiwan as part of this trip.
(14:01):
Those who play with fire will perish by it, you know,
echoing the comments that President She made to Biden last week.
US and China now have both deployed military forces to Taiwan,
and the Chinese Communist Party announced that through state owned
media that they're deploying forces for live fire exercises in
(14:24):
waters north of Taiwan between mainland China and South Korea.
Those exercises are the latest in a series of back
to back Chinese drills in the region. They are notable, however,
in that the announcement was accompanied by footage of China's
D seventeen hypersonic missile, dubbed the Aircraft Carrier Killer. The
(14:44):
D seventeen is a nuclear capable ballistic missile fitted with
hypersonic glide vehicle that allows its payload to glide into
low orbit at great speed before plunging down on its target.
According to other video they released this week, Iran declared
that they are now just one step away from producing
their own nuclear weapon. Gee, it's amazing. This is all
(15:06):
happening because we have a strong US president. You know,
say what you will. One thing Donald Trump has that
Joe Biden will never have a jet, the genuine unpredictability,
and there is that fear factor that goes along with that.
This guy is crazy enough that he might do it.
(15:26):
That's what they always thought. Putin thought it, Kim Jong
unthought it, the Iranian mullus thought it, the Chinese president
thought it. They all knew it, The Taliban knew it.
(15:58):
Breaking news straight from the source. This is the Sean
Hannity Show, a right twenty five now untill the top
of the hour, eight hundred and nine four one Sean,
if you want to be a part of the program,
Does anybody in there disagree with me? There's no way
they're going to shoot Nancy Pelosi's playing out of the sky?
Is it? You all agree with me on that, right?
(16:19):
There's no way because if they do, it's it's World
War three. Now. Does China want to start World War three?
They have, They have their own economic issues. By the way, Glad,
what'd you want to say? No? I mean, I think
it's a there's a strong point here for the role
that Time one plays. We were talking about this last
week and a little bit. I think we'll talk more
about it this week. But they're providing nine of you know,
(16:41):
the global semiconductor chips that we need for basically everything.
So you know, China depends on them, you know, Beijing
and the Communist CCP. I mean, they all depend on
Taime one just as much as the US does. So
I don't think that they want to cause a global war.
They still need them. They gotta figure that out first. Yeah,
they're gonna allowed to figure out all right. Moving on
(17:04):
to the economy again, This was interesting in the epic times,
high ranking Federal Reserve official warning on Sunday that inflation
continues to rise and is now expected to outpace previous projections.
You think we've already outpaced previous projections. Remember it was
(17:25):
Biden in December. Oh, I think we've hit its peak.
But before that it was all transitory. Yeah whatever. So anyway,
so the Federal Reserve Bank of Minneapolis president warns Sunday,
the current rate of inflation is troubling and we'll spread
across the country. Quote, it's very concerning. We keep getting
inflation readings, new data that comes in as recently as
(17:46):
this past week, and we quote, keep getting surprised. It's
always higher than we think. Fed Branch president guy's name
is Neil Kashkari, and he said on face the nation,
he said, and it's not just a few categories. It's
spreading out more broadly across the economy. And that's why
the Federal Reserve is acting with urgency to get it
under control and bring it back down. Wages are not
(18:08):
going up as fast as inflation. We've told you that.
So most Americans, real wages, reel incomes are going down.
We've given you the price for the average worker it's
thirty four hundred dollars a year, and Biden inflation tax
for a couple at sixty eight hundred. Then you have
the high price of gasoline on top of it. I
know I've filled up my tank gass to you how
(18:30):
much it cost to fill up my tank? One hundred
and six dollars to fill up my gas tank. It
is so irritating. Used to take fifty bucks to fill
up my gas tank. I'm so I just sit there
and the price gets higher and higher and higher, and
I'm getting angrier and angrier as I fill up my
gas tank. It just pisses me off because it's so
also unnecessary. It's just money you're pouring down the drain,
(18:53):
and that's killing the poor, middle class, people on fixed income,
the elderly in this country. We should get a more
pain the better. According to Pete Buddha Jos, that's the
new model. Typically we think about wage driven inflation, where
wages grow quickly and that leads to higher prices in
a self fulfilling spiral. But that's not happening yet, so
(19:16):
it's just a matter of time. But when you look
at the economy. You know, look at for example, what
have I been warning about next? And this was on CNBC.
Home prices cooled at a record pace in June, according
to housing data firm. I told you what's going to
happen with home prices new home construction, if it hasn't
(19:36):
started and it's not part of a supply chain mess,
it's just going to get worse. It'll come to a
screeching halt. It's got to because people are not people
that have grown accustomed to interest rates that are Anything
below four is I would define pretty much as free money.
Anything above four percent. You know, now you start reducing
(19:59):
the the size of home that you're likely able to afford.
Now we're talking about moving up to seven percent for
a thirty year fixed mortgage. Nobody's gonna want to give
up their low rate, thirty year rate mortgage. They're not
going to give it up. There's a lot of money
at stake. So you're not going to sell a house
and you have a two point eight percent three point
eight percent mortgage and traded him for a seven point
(20:19):
two percent mortgage. Nobody's going to do that because it's
thousands of dollars more every month and with inflation soaring,
that means sale of the sale of existing homes is
going to come to a stop. That means home values
will begin to go down. And you see all these
companies on Wall Street there, they're out there in the
housing market. They're gobbling up single family homes, you know,
(20:42):
by the hundreds as investment properties, because when people can't
afford homes, then the rental market gets stronger. Federal, federal,
you know, he's so, he's saying that the Wall Street Journal,
consumers have powered through the pandemic inflation until now the
consumers that fueled the US economy through the pandemic are
(21:03):
starting to crack. Data last week revealing new evidence from
companies and government that household spending is increasingly strained. Families
are pairing back purchases of items like electronics and furniture
as prices for essentials like food gas have become more expensive.
Inflation drove consumers spending in June to a new four
(21:24):
decade high. Personal incomes fell when adjusting for inflation and
for taxes, dollar store dinners. And I mean, there's nothing
here that's good news. I don't have any good news.
Even Disneyland is raising prices on food and they're blaming inflation,
and critics are saying they're also shrinking their portions, which
has become a good has become a pretty common practice.
(21:48):
More stories about food banks around the country. One particular
story that I saw that stood out to me a
New Jersey food bank. And by the way, despite providing
emergency relief for families during the Great Recession and Hurricane
Sandy disaster, one New Jersey food bank says they've never
(22:08):
spent more money to feed so many people whose pocketbooks
have been hurt by inflation. The stories are the same
community food Bank in New Jersey President Carlos Rodriguez. He
said to Fox Business it's much more expensive to fill
up their tank, to go to work, to drop off
the kids at school, and then of course when they
go to the grocery store they get hit with another
(22:29):
high cost. And he said, according to Rodriguez, the nonprofit
food bank is spending forty percent more to purchase the
same amount of supplies that they would have bought last
year in which they served eighty five million meals. This
is a real food bank. I mean, one of my
town is relatively small in comparison, but I know they've
been struggling because friends of mine worked there, and I
(22:51):
try to help them out whenever they get squeaked, whatever
I say, whenever you run and low, let me know,
let me know, I'll try and help out. I don't try,
just do help out. And I know people are doing
the same thing all over the country. Food banks in
America experiencing surging demand. Another headline. Another report, baby formula
crisis worsens as out of stock levels now hit thirty percent.
(23:14):
Parents accused Biden of forgetting about them and moms struggling
to feed twins. Says, Oh, I'm sure these politicians babies
eat ouch. So you know, how do you This is
a sad start. By the way, do you even know
what spam is, Linda, I don't even know what spam is?
What it is that was a staple in my house.
(23:36):
You like spam? I don't know if I like spam,
But I would say people who were, you know, not
living the high life, could could feed a family on
spam for sure. Yeah. Okay, James, sweet baby James is
in the other room there, he's laughing. He's also a
military guy. He probably really an MRI when he was
in the military. He thought an MRI tasted Grady Goes.
(23:58):
I used to like it. This this guy, I can
eat anything, and don't ever put like a bar of
parmesan cheese in front of them because they'll eat the
whole bar, or a long salami in front of them,
right or wrong? Right, So you're about to tell me
that good stuff? What is it? What is? It looks
like crap to me, it looks like salmon. Spam light
is a way for people to eat fattening spam and
(24:20):
not feel guilty about it. That's all spam light is.
Still tell what is? But you didn't answer the question
what I don't even know what spam is. It's basically
all the parts of pork that don't actually make it.
Some of them might make it to a hot dog.
I'm not sure. I don't eat hot dogs, but so
don't make it to the hot dog level in terms
of qualities. Is that what you're telling me hot dogs?
(24:41):
Don't get me wrong. It's very processed, it's very nitrate build,
and it has a very long shelf life. Okay, spam
now in New York City's on lockdown Wayne Reid store.
You know it's a shelf staple, and now price has
gone up. It's three ninety nine a cam, which is
very high for spam A and now they're being stocked
(25:02):
in anti theft cases. Because that happens to me. I
guess the food a choice when people go into the
drug store to take out, because I guess it's it
fills you up, It is nourishing, is that? Why is it?
I mean, it is a protein. It's not the healthiest
of proteins, but it is a protein, and it's cheap.
And if you're live in New York City under Biden,
Hukel and atoms, it might be your go to for sure.
(25:24):
So it says spam, chopped pork and ham. That exactly
son appetizing to me, it actually changes pretty good. I'm
not gonna lie you like it. I mean I haven't
eaten it in many, many years, but yes, I have
eaten it in my life. It's unbelievable anyway, Krugman at
the New York Times it goes on, um, how is
(25:44):
your financial If you ask people, how are you your
financial condition, it's favorable. I'm not I'm not getting that
answer from anybody. You know, I go shopping every week,
and I know you. Everyone laughs when I talk about this,
What do you what do you mean? You go shopping?
I go shopping every week. I like to go shopping.
Doesn't they got to go shopping? You know? I get
i'd meet people every week. I go, Hannity, what are
(26:05):
you doing here? I'm like shopping? Why? I'm like, because
I'm I'm fat. I like to eat, That's why? Can't
you tell? And anyway? And everyone will ask. And then
when you stop and you start talking about the price
of food, everybody like it triggers everybody. They go off.
They are pissed because they all see what we see
that all of this has been preventable. Way do people
(26:27):
realize this Mansion Schumer deal is gonna cost every American
household of fortune, you know, sixteen billion next year alone,
nearly seventeen sixteen point seven billion on taxpayers making less
than two hundred thousand dollars a year. You know what?
That is a broken promise by Joe Biden and money
(26:48):
that people cannot afford. So what do we have a
Democratic Party? They're gonna tax every American and they're taking
a big victory lap on this and lying about it,
which is another thing that pisses me off. They're gonna
hire eighty seven thousand more IRS agents. And instead of
what they're trying to call this thing the Inflation Reduction Act,
(27:10):
it's not the Inflation Reduction Act. It's the Inflation Increasing Bill.
Because that's what you're gonna get for the Democrats. You're
gonna get bigger government, more IRS harassment. In other words,
you're gonna get the Hannity treatment. What do you mean
by that, Hannity? Because they pulled I have to have
my taxes done by two accounting firms and buy a
(27:30):
law firm just to make sure nobody makes a mistake
and screws it up. God forbid. I couldn't figure out
how to do those taxes in a
Day number three fifty two. All right, yep, Day three
sixty five, one full year ago. Since Joey promised he'd
never abandoned Americans and the Islamic Emirates of Afghanistan one
full year ago. Today he made that promise thirteen days later.
(00:21):
Guess what he abandoned them eight hundred ninefold when Shawn
our number. If you want to be a part of
the program, we got a lot of economic news. We'll
get through in the course of the program. Today we're
obviously watching the Chinese government. Our enemies threatened to take
the plane with the Speaker of the House, Nancy Pelosi,
(00:41):
out of the sky and shoot down Nancy Pelosi's plane.
He had a tweet posted Friday by the Chinese government
controlled media outlet threatening to shoot the plane down if
she dares to visit Taiwan. It was quietly deleted by Saturday.
Was the threat reel? Does it represent the official position
a president? She's government? Based on the phone call with
(01:02):
Biden late last week, it sounds like you play with fire,
you get burned. There were a lot of threats on
that call. You know what's so frustrating about it is
all of the things that Biden should have been asking
President Chi about his unfair trade practices, about intellectual property, theft,
about saber rattling with Taiwan, about the origins of COVID nineteen,
(01:26):
and why did you put your travel ban in effect
long before Donald Trump did by prohibiting people in Wuhan
Province from traveling inside anywhere withinside of China. But it
was perfectly fine for them to travel around the world
and spread whatever it was that was going on there
that you knew about around the world, and then demanding
compensation from China, you know, free and fair trade practices.
(01:48):
None of that came up. Joe just sat there and
got lectured and threatened by President She It's pretty despicable anyway.
So they pulled down the threat that they put up.
I guess on Twitter and routers pointed out the prominent
Chinese the commentators said. On Saturday, they deleted the tweet
warning of military retaliation should the US fighter jets escort
(02:09):
Nancy Pelosi on any visit to to Taiwan after Twitter
blocked the account. Now Pelosi number three in line. You know,
she's two heartbeats away from the president. Put aside Democrat,
Republican for just a minute here, and she'd be third
in line in terms of presidential secession now after Biden
(02:30):
and Kamala Harris. And anyway, it was signaled on Friday
she was embarking on the trip to Europe. Now, if
you look at the official itinerary that they have put out,
Taiwan is noticeably absent from the itinerary. Now, all reports
are that she probably is going to go there, and
I'll explain that in a second. But if you look
at state tabloid media and what they wrote on what's
(02:54):
being conveyed to the people of China that if the
US military sends fighter jets to escort Pelosi to Taiwan,
then the move would take a vile nature of such
a visit and would constitute aggression, and our fighter jets
should deploy all obstructive tactics if those are still ineffective.
(03:14):
So anyway, we have a pretty large military presence in
the region and tensions are running high, and Newsweek is
raising the possibility the now deleted tweet didn't represent the
official position of the Chinese government. Well, they pretty much
made the same threat on the phone call. Now it
raises questions. Now if you look at the media in Taiwan.
(03:36):
They are reporting that Pelosi schedule to arrive Tuesday night.
Taiwanese media outlets reporting Pelosi would arrive Tuesday night local
time after visiting Malaysia on the second leg of our
ongoing Asia trip, making the Speaker the highest ranking US
elected official to visit the country since then. How Speaker
(03:57):
new Cambridge did in nineteen ninety seven, he'll join us later.
But by the way, the same threats or similar threats
were made when newt was going there back then. The
island nation's three largest newspapers all reporting that the Democratic
Congressional delegation led by the Speaker would spend Tuesday night
in Taipei. Pelosi's office previously confirmed that she would visit Singapore, Malaysia,
(04:20):
South Korea, Japan, but didn't say whether Taiwan was on
the itinerary. She has scheduled to be in Malaysia on Tuesday,
south Korea on Thursday. Her schedule for Wednesday remains unclear.
Down do you really believe that that America should capitulate?
This is an allied country of the United States of America,
(04:42):
and if they're threatening to shoot down a high ranking
US official is it anything other than an act of
war because it is an unprovoked attack. Are elected officials
can visit any Allied country anytime they want, whether they
like it or not. At this point, Nancy Pelosi doesn't
(05:05):
have a choice. Joe Biden does not have a choice
because unless they want to show nothing but weakness and
the ability to be intimidated by the communist Chinese, they
better get her to Taiwan. Now, do I think anything
is going to happen? I do not so. I think
that they're crazy, insane people all throughout history. You have
(05:27):
to take it seriously. You take every threat seriously. But China's,
you know, Pelosi threat needs to also be a wake
up call. You know, America does need to understand our
number one geopolitical foe. Now, Russia's Putin is all for
this showdown with China and the United States because he
(05:48):
doesn't like the fact that the United States has spoken
out against and supported Ukraine over the invasion of a
sovereign country by Putin and his hostel regime. But that's
neither here nor there. If China is actually going to
carry out their threat, that is a declaration of war.
That will be World War three, and if something that minor,
(06:10):
a minuscule were to trigger World War three, it means
it was gonna happen anyway. So we might as well
call them out on their threat and show a little
spine and a little backbone, and she better follow through
on the promise to make that visit now. Luckily for us,
with a threat against Pelosi's China's leaders have lifted the
veil of some very uncomfortable facts that we can't ignore
(06:34):
and that we have been telling people for the longest time.
China is not a friendly nation to us. It's a
hostile regime, just like Russia is, just like Iran is,
just like Venezuela is, just like North Korea is, just
like I would even argue the Saudis are. China is
not merely a competitor. They are an adversary, our number
(06:56):
one geopolitical foe. They're an enemy, an enemy that poses
a clear and present danger to America's future. They view
us as the enemy. The problem is, you know, why
didn't we see all of these hostility? Why is it
that Putin invades Crimea annects as Crimea when Joe Biden's
(07:19):
vice president, Obama's president, but they don't do anything when
Trump as president? How is it that Donald Trump finally
got the communist Chinese to agree to tariffs because he's
the only president to call him out on it. How
is it Joe Biden as he continues to make concessions
and capitulate to the Chinese? Why are we giving one
million barrels of our strategic petroleum reserves to China at
(07:44):
a time we're paying record prices for gasoline? Why is
he contemplating removing the tariffs that have been so effective
in terms of getting to the point in free of
fair trade with China that Donald Trump put in places.
Why is he considering doing any of this now? When
is he going to challenge them on the origins of COVID?
(08:05):
When is he going to challenge them on their never
ending intellectual property theft? I know a lot about intellectual
property theft because it happened to a friend of mine,
technology that he developed ripped off by the communist Chinese.
I mean, they stole every bit of it anyway. As
General Jack Keane and many others have warned recently, our
Pentagon has war gamed the possible outcome of any military
(08:28):
conflict between the US and China and the Pacific, and
they don't think that we're ready, and I would argue
that's probably true. That's what our military experts are telling us.
So nobody should be willing. Nobody should want a war
with China, period, end of sentence. Now they've made it
very clear when they talk about reunification, they're talking about
(08:50):
taking over Taiwan. I don't think the world is going
to lift a finger in that particular instance, because we've
allowed them to get this strong. So we'll have to
see what happens over time. But my guess is that
she has no choice but to go at this point.
And I don't think the communist Chinese are going to
(09:11):
shoot any plane out of the sky unless they unless
their desire is to have World War three, because that's
exactly what's going to happen. And over this I don't
see it. It's possible, but you know, the penalty that
we would pay by backing down to their threat is incalculable,
(09:32):
and the message it sends to the entire world, the
damage that would be done is incalculable. Um. The big
thing that has come out this weekend is just how
bad this this deal that it was struck between Schumer
and Joe Mansion. You know, if you look at the
resulting tax hike, for example, we did not raise taxes.
(09:54):
Mansion was on Fox News Sunday. Yes they did, as
they did this deal. As he did this deal with Schumer.
You know, he means the deal wouldn't raise the top
tax rates, but it does impose a fifteen percent corporate
minimum tax for businesses with more than a billion dollars
overwriting normal accounting rules, etc. Etc. And the resulting tax
hike three and thirteen billion, thereby targets companies whose business
(10:19):
is capital intensive, meaning they have to invest heavily to function.
So what Mansion is calling an all American bill slams
US manufacturing, which would suffer half the total tax hike,
or one hundred and fifty five point six billion dollars.
But what do I always tell you that in fact, Americans,
(10:39):
the American corporations don't pay taxes. The Congressional Joint Tax
Committee on Tax Station actually analyze the bill and they
found that taxes would go up sixteen point seven billion
dollars on you, the American people that make less than
two hundred thousand dollars just next year loan another fourteen
(11:01):
point one billion on people that make between two hundred
and five hundred thousand during the ten year window. The
average tax rate would go up for almost every single
income category. And they're not the only ones that have
taken the time to study what's actually in this bill.
For example, if you look at what the Wharton School
(11:22):
of Business is saying Upen that and by the way,
it's a joke that they call it the Inflation Reduction
Act of twenty twenty two because it does anything but
help inflation. That the breakthrough US legislative deal, key parts
of it won't reduce inflation at all, according to the
UPEN study, not at all, not one bit. And that's
coming from researchers that Senator Mansion says, whose vote was
(11:47):
crucial to sealing the deal, Joe Mansion. The study from
Upen Wharton Budget Model estimates the Act would cause inflation
to very slightly rise rather than be reduced. You know,
they always put these, you know, cute little names. It's
just the opposite of what a bill is. Oh, it's
the Inflation Reduction Act. It's doing nothing to reduce inflation,
(12:08):
not a thing. But it's going to raise taxes on
every single American at a time where we can not
least afford to do so. Then you have the Joint
Committee on Taxation saying nearly every income group is going
to see the tax hikes under the Schumer Mansion bill.
Then the people of West Virginia got to be asking
themselves what the hell did our senator give into this for?
(12:30):
Remember Biden's pledge, Oh, no new taxes on anyone that
makes less than four and at that thousand dollars a year.
Well that's not going to happen. Sixteen point seven billion
next year alone for Americans earning less than two hundred
thousand dollars a year, just on them. You know, Joe
Mansion does the full five Sunday shows and you would think, oh,
this is the second coming. Anyway, I got to take
(12:52):
a quick break. Eight hundred nine for one, Shawn our
number on this Monday. You know, the sad thing is
when you show we or you have a weak US
president like we do, because the world sees Joe as
weak and frail in a cognitive mess. You look at
the saber rattling by Iran. Oh, we could turn our
peaceful nuclear program into a weapons grade program overnight, and
(13:16):
that came out over the weekend. More saber rattling by
North Korea China. I'm sorry, Putin weighs in in full
support of China. I mean you think these are all
happening by accident, No, they're not. The Chinese military posting
of video boasting of their military might and videos of
their troops launching missiles, grabbing weapons, taking off in fighter jets. Quote.
(13:40):
If Pelosi insists on visiting Taiwan, China will take resolute
and strong measures to defend its sovereignty and territorial and integrity,
according to the Chinese Foreign Minister telling reporters today, and
that rhetoric comes after sources confirmed to the Wall Street
Journal Pelosi would be visiting Taiwan as part of this trip.
(14:01):
Those who play with fire will perish by it, you know,
echoing the comments that President She made to Biden last week.
US and China now have both deployed military forces to Taiwan,
and the Chinese Communist Party announced that through state owned
media that they're deploying forces for live fire exercises in
(14:24):
waters north of Taiwan between mainland China and South Korea.
Those exercises are the latest in a series of back
to back Chinese drills in the region. They are notable, however,
in that the announcement was accompanied by footage of China's
D seventeen hypersonic missile, dubbed the Aircraft Carrier Killer. The
(14:44):
D seventeen is a nuclear capable ballistic missile fitted with
hypersonic glide vehicle that allows its payload to glide into
low orbit at great speed before plunging down on its target.
According to other video they released this week, Iran declared
that they are now just one step away from producing
their own nuclear weapon. Gee, it's amazing. This is all
(15:06):
happening because we have a strong US president. You know,
say what you will. One thing Donald Trump has that
Joe Biden will never have a jet, the genuine unpredictability,
and there is that fear factor that goes along with that.
This guy is crazy enough that he might do it.
(15:26):
That's what they always thought. Putin thought it, Kim Jong
unthought it, the Iranian mullus thought it, the Chinese president
thought it. They all knew it, The Taliban knew it.
(15:58):
Breaking news straight from the source. This is the Sean
Hannity Show, a right twenty five now untill the top
of the hour, eight hundred and nine four one Sean,
if you want to be a part of the program,
Does anybody in there disagree with me? There's no way
they're going to shoot Nancy Pelosi's playing out of the sky?
Is it? You all agree with me on that, right?
(16:19):
There's no way because if they do, it's it's World
War three. Now. Does China want to start World War three?
They have, They have their own economic issues. By the way, Glad,
what'd you want to say? No? I mean, I think
it's a there's a strong point here for the role
that Time one plays. We were talking about this last
week and a little bit. I think we'll talk more
about it this week. But they're providing nine of you know,
(16:41):
the global semiconductor chips that we need for basically everything.
So you know, China depends on them, you know, Beijing
and the Communist CCP. I mean, they all depend on
Taime one just as much as the US does. So
I don't think that they want to cause a global war.
They still need them. They gotta figure that out first. Yeah,
they're gonna allowed to figure out all right. Moving on
(17:04):
to the economy again, This was interesting in the epic times,
high ranking Federal Reserve official warning on Sunday that inflation
continues to rise and is now expected to outpace previous projections.
You think we've already outpaced previous projections. Remember it was
(17:25):
Biden in December. Oh, I think we've hit its peak.
But before that it was all transitory. Yeah whatever. So anyway,
so the Federal Reserve Bank of Minneapolis president warns Sunday,
the current rate of inflation is troubling and we'll spread
across the country. Quote, it's very concerning. We keep getting
inflation readings, new data that comes in as recently as
(17:46):
this past week, and we quote, keep getting surprised. It's
always higher than we think. Fed Branch president guy's name
is Neil Kashkari, and he said on face the nation,
he said, and it's not just a few categories. It's
spreading out more broadly across the economy. And that's why
the Federal Reserve is acting with urgency to get it
under control and bring it back down. Wages are not
(18:08):
going up as fast as inflation. We've told you that.
So most Americans, real wages, reel incomes are going down.
We've given you the price for the average worker it's
thirty four hundred dollars a year, and Biden inflation tax
for a couple at sixty eight hundred. Then you have
the high price of gasoline on top of it. I
know I've filled up my tank gass to you how
(18:30):
much it cost to fill up my tank? One hundred
and six dollars to fill up my gas tank. It
is so irritating. Used to take fifty bucks to fill
up my gas tank. I'm so I just sit there
and the price gets higher and higher and higher, and
I'm getting angrier and angrier as I fill up my
gas tank. It just pisses me off because it's so
also unnecessary. It's just money you're pouring down the drain,
(18:53):
and that's killing the poor, middle class, people on fixed income,
the elderly in this country. We should get a more
pain the better. According to Pete Buddha Jos, that's the
new model. Typically we think about wage driven inflation, where
wages grow quickly and that leads to higher prices in
a self fulfilling spiral. But that's not happening yet, so
(19:16):
it's just a matter of time. But when you look
at the economy. You know, look at for example, what
have I been warning about next? And this was on CNBC.
Home prices cooled at a record pace in June, according
to housing data firm. I told you what's going to
happen with home prices new home construction, if it hasn't
(19:36):
started and it's not part of a supply chain mess,
it's just going to get worse. It'll come to a
screeching halt. It's got to because people are not people
that have grown accustomed to interest rates that are Anything
below four is I would define pretty much as free money.
Anything above four percent. You know, now you start reducing
(19:59):
the the size of home that you're likely able to afford.
Now we're talking about moving up to seven percent for
a thirty year fixed mortgage. Nobody's gonna want to give
up their low rate, thirty year rate mortgage. They're not
going to give it up. There's a lot of money
at stake. So you're not going to sell a house
and you have a two point eight percent three point
eight percent mortgage and traded him for a seven point
(20:19):
two percent mortgage. Nobody's going to do that because it's
thousands of dollars more every month and with inflation soaring,
that means sale of the sale of existing homes is
going to come to a stop. That means home values
will begin to go down. And you see all these
companies on Wall Street there, they're out there in the
housing market. They're gobbling up single family homes, you know,
(20:42):
by the hundreds as investment properties, because when people can't
afford homes, then the rental market gets stronger. Federal, federal,
you know, he's so, he's saying that the Wall Street Journal,
consumers have powered through the pandemic inflation until now the
consumers that fueled the US economy through the pandemic are
(21:03):
starting to crack. Data last week revealing new evidence from
companies and government that household spending is increasingly strained. Families
are pairing back purchases of items like electronics and furniture
as prices for essentials like food gas have become more expensive.
Inflation drove consumers spending in June to a new four
(21:24):
decade high. Personal incomes fell when adjusting for inflation and
for taxes, dollar store dinners. And I mean, there's nothing
here that's good news. I don't have any good news.
Even Disneyland is raising prices on food and they're blaming inflation,
and critics are saying they're also shrinking their portions, which
has become a good has become a pretty common practice.
(21:48):
More stories about food banks around the country. One particular
story that I saw that stood out to me a
New Jersey food bank. And by the way, despite providing
emergency relief for families during the Great Recession and Hurricane
Sandy disaster, one New Jersey food bank says they've never
(22:08):
spent more money to feed so many people whose pocketbooks
have been hurt by inflation. The stories are the same
community food Bank in New Jersey President Carlos Rodriguez. He
said to Fox Business it's much more expensive to fill
up their tank, to go to work, to drop off
the kids at school, and then of course when they
go to the grocery store they get hit with another
(22:29):
high cost. And he said, according to Rodriguez, the nonprofit
food bank is spending forty percent more to purchase the
same amount of supplies that they would have bought last
year in which they served eighty five million meals. This
is a real food bank. I mean, one of my
town is relatively small in comparison, but I know they've
been struggling because friends of mine worked there, and I
(22:51):
try to help them out whenever they get squeaked, whatever
I say, whenever you run and low, let me know,
let me know, I'll try and help out. I don't try,
just do help out. And I know people are doing
the same thing all over the country. Food banks in
America experiencing surging demand. Another headline. Another report, baby formula
crisis worsens as out of stock levels now hit thirty percent.
(23:14):
Parents accused Biden of forgetting about them and moms struggling
to feed twins. Says, Oh, I'm sure these politicians babies
eat ouch. So you know, how do you This is
a sad start. By the way, do you even know
what spam is, Linda, I don't even know what spam is?
What it is that was a staple in my house.
(23:36):
You like spam? I don't know if I like spam,
But I would say people who were, you know, not
living the high life, could could feed a family on
spam for sure. Yeah. Okay, James, sweet baby James is
in the other room there, he's laughing. He's also a
military guy. He probably really an MRI when he was
in the military. He thought an MRI tasted Grady Goes.
(23:58):
I used to like it. This this guy, I can
eat anything, and don't ever put like a bar of
parmesan cheese in front of them because they'll eat the
whole bar, or a long salami in front of them,
right or wrong? Right, So you're about to tell me
that good stuff? What is it? What is? It looks
like crap to me, it looks like salmon. Spam light
is a way for people to eat fattening spam and
(24:20):
not feel guilty about it. That's all spam light is.
Still tell what is? But you didn't answer the question
what I don't even know what spam is. It's basically
all the parts of pork that don't actually make it.
Some of them might make it to a hot dog.
I'm not sure. I don't eat hot dogs, but so
don't make it to the hot dog level in terms
of qualities. Is that what you're telling me hot dogs?
(24:41):
Don't get me wrong. It's very processed, it's very nitrate build,
and it has a very long shelf life. Okay, spam
now in New York City's on lockdown Wayne Reid store.
You know it's a shelf staple, and now price has
gone up. It's three ninety nine a cam, which is
very high for spam A and now they're being stocked
(25:02):
in anti theft cases. Because that happens to me. I
guess the food a choice when people go into the
drug store to take out, because I guess it's it
fills you up, It is nourishing, is that? Why is it?
I mean, it is a protein. It's not the healthiest
of proteins, but it is a protein, and it's cheap.
And if you're live in New York City under Biden,
Hukel and atoms, it might be your go to for sure.
(25:24):
So it says spam, chopped pork and ham. That exactly
son appetizing to me, it actually changes pretty good. I'm
not gonna lie you like it. I mean I haven't
eaten it in many, many years, but yes, I have
eaten it in my life. It's unbelievable anyway, Krugman at
the New York Times it goes on, um, how is
(25:44):
your financial If you ask people, how are you your
financial condition, it's favorable. I'm not I'm not getting that
answer from anybody. You know, I go shopping every week,
and I know you. Everyone laughs when I talk about this,
What do you what do you mean? You go shopping?
I go shopping every week. I like to go shopping.
Doesn't they got to go shopping? You know? I get
i'd meet people every week. I go, Hannity, what are
(26:05):
you doing here? I'm like shopping? Why? I'm like, because
I'm I'm fat. I like to eat, That's why? Can't
you tell? And anyway? And everyone will ask. And then
when you stop and you start talking about the price
of food, everybody like it triggers everybody. They go off.
They are pissed because they all see what we see
that all of this has been preventable. Way do people
(26:27):
realize this Mansion Schumer deal is gonna cost every American
household of fortune, you know, sixteen billion next year alone,
nearly seventeen sixteen point seven billion on taxpayers making less
than two hundred thousand dollars a year. You know what?
That is a broken promise by Joe Biden and money
(26:48):
that people cannot afford. So what do we have a
Democratic Party? They're gonna tax every American and they're taking
a big victory lap on this and lying about it,
which is another thing that pisses me off. They're gonna
hire eighty seven thousand more IRS agents. And instead of
what they're trying to call this thing the Inflation Reduction Act,
(27:10):
it's not the Inflation Reduction Act. It's the Inflation Increasing Bill.
Because that's what you're gonna get for the Democrats. You're
gonna get bigger government, more IRS harassment. In other words,
you're gonna get the Hannity treatment. What do you mean
by that, Hannity? Because they pulled I have to have
my taxes done by two accounting firms and buy a
(27:30):
law firm just to make sure nobody makes a mistake
and screws it up. God forbid. I couldn't figure out
how to do those taxes in a
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