Episode Transcript
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Speaker 1 (00:10):
Warning, the Root, The Root, the Roots on fire. You're
about to experience the most high octane, pedal to the
metal controversial show of your life. Please buckle up and
hold on tightly. This station is not responsible for injuries.
This is Wayne Alan Roots direct from the entertainment capital
of the World, Las Vegas. What time is it? It's
(00:31):
time war War. Here's your host, one hundred percent raw truth,
one hundred percent American made the Warrior, Wayne Alan Roots.
Speaker 2 (01:02):
Alright, youre we go, Ladies and gentlemen.
Speaker 3 (01:03):
Welcome, Welcome, Welcome, Today fifteen of December twenty twenty five.
My name is Lee Elsie, the Voice of Freedom, filling
in for the one and the only Wayne Allen Roote.
Speaker 2 (01:13):
I think Wayne told you.
Speaker 3 (01:15):
Where he was going tonight. If not, I guess I'm
gonna I'm gonna let you in on a little secret.
So Wayne is not with us tonight, did probably be
back tomorrow night, but he is hanging out with President
Donald J. Trump tonight at a big fancy get together
in Washington, DC at the White House. So it's kind
(01:37):
of kind of great. He's been going there quite often,
so kudos to Wayne Allen Root for doing that. So
you get me yours truly, I do have a couple
of great hours of broadcast for you.
Speaker 2 (01:47):
So here's where you can watch us.
Speaker 3 (01:50):
You can watch us on the Gateway, Pundit dot Com,
Patriot dot TV, which, as I say, every time I
fill in, I get a chance to be on the
air for Patriot dot TV each and every morning from
six am to nine at six am to ten o'clock
East Coast time, and you can find that on Rumble.
So if you like any of what you hear tonight
(02:11):
or anytime, you can always tune into me on Rumble
each and every morning and get a hold of.
Speaker 2 (02:16):
Us that way.
Speaker 3 (02:17):
Of course, when there's apps, there's radio stations that are
holding us. There's again Patriot TV, Gateway Pundit, Wayne's Rumble,
Wayne's x Wayne's Getter.
Speaker 2 (02:25):
They all have again some.
Speaker 3 (02:27):
Video slash audio that is being thrown out through the
great folks behind the scenes making it all go, and
I want to thank them for making it happen. So
a couple things before the show started, I was paying
very close attention Brown University literally is, you know, forty
miles from where I'm sitting right now. Less than that,
probably thirty miles from where I'm sitting right now.
Speaker 1 (02:49):
And.
Speaker 3 (02:51):
Students at Brown University are now sharing information with other
students and other folks that the.
Speaker 2 (03:02):
Who was involved in the shooting.
Speaker 3 (03:06):
Allegedly yelled a rockbar before he started shooting. And if
you don't know this story, maybe you're paying attention to
what had happened in Australia, which we'll get to in
a second. But apparently a professor was shot and killed.
The professor was Jewish. This chilling detail emerging eyewitness accounts
(03:29):
amid all the chaos, the massacre in Rhode Island where
a couple of students perished and I think nine were wounded.
Now it's you know, it's young kids, man, and this
is never any good. But I ran across a video.
I'm going to just play it. Just it's sixty seconds,
(03:51):
not even it's forty seconds of audio. And you know,
before I get to some of the other stuff, this
is the Brown students in the library. They're all huddled together,
scared to death, right, noises on the outside, and they
had just heard some maybe witnessed a shooting, you know,
(04:13):
a shooting in one of the classrooms in one of
the buildings, and they're sitting there hunkered down, buried in
their hands, buried in their faces, and they're thinking the
worst possible thoughts. And I'm just saying, as I'm watching it,
I'm thinking to myself, what if that was my family member?
What if it's your family member who is going through
all this? And it sounded a little something like this.
(04:33):
The banging that you hear is the state police a
swat team, you know, getting into that room.
Speaker 2 (04:40):
But nonetheless, these kids are scared to death.
Speaker 4 (05:02):
Hand hands, hands, hands, everybody, get your hands, hands, hands, hands, hands, hands,
just keep your hands up for us. Oh see, there's
something going on with the hell you're just listen to
what we.
Speaker 5 (05:14):
Have to say.
Speaker 4 (05:14):
Okay, all right, breeze anybody hurt?
Speaker 2 (05:17):
No, all right, your hands you will.
Speaker 6 (05:20):
Get you a lot to get safely.
Speaker 1 (05:23):
Is this is the if you have the bad for.
Speaker 7 (05:30):
Fast?
Speaker 3 (05:30):
All right? So you've got a bunch of kids huddle together,
scared to death, banging on the door. Who knows it's
it sounds like shots. It wasn't happened to be the
cops coming to the rescue. But here there are kids
now there, their hands are up, they're basically they have
rifles basically not pointed at them. But every cop is
(05:54):
in the room now and there's that just sense of
dread and this is just happening way too often in
school settings across the country. But in this case it's
got a different angle to it because this particular act
(06:14):
of senseless violence campus tragedy is again a potential harbinger
of j hottest fury that is happening across the globe.
The world is at war with radical Islamist lunatics, the
(06:35):
venomous force that twists this faith into some freakish fantasy
that unleashes hell on innocent people. We can no longer
afford the denial of this. It's got to be confronted
head on. We must rally with unyielding resolve on this.
(06:57):
The time for basic turn the other cheek types of
conversation they're gone.
Speaker 2 (07:03):
That's ended, gone.
Speaker 3 (07:07):
And I'm convinced now more than ever as it seems
like it's almost like a weekly occurrence where you have
another terror attack perpetrated, perpetrated by Muslim extremis against people
of a Judeo Christian faith for the most part, or Jews.
It's like a weekly occurrence. And look at Sydney just
(07:32):
yesterday and then I guess the nation's deadliest terror outrage
happened at a fund festival by the sea, supposedly the
beginning of Hanukkah, where two monsters, a father and son duo,
(07:52):
shot fifteen people. Oh, shot more than that, kill fifteen
souls and injured dozens more.
Speaker 2 (08:00):
I mean, killing a young girl, a.
Speaker 3 (08:02):
Holocaust survivor, rabbis, over forty lay wounded, including some of
the law enforcement officers. So again, this is constant, absolute,
constant anti Semitic abomination, and it's just it's happening again,
(08:24):
one after another, after another after another. Today on my
morning show, I read a list of atrocities that have
happened just within the last few years. And in some
cases you're talking about dozens dead, fifty dead, forty dead,
thirty injured, twelve dead, fifteen injured, over and over and
over again, all Islamic attacks. And as I pointed out
(08:47):
today earlier, you know, we only see what the bias
media allows us to see.
Speaker 2 (08:55):
We don't really see all of the true facts.
Speaker 3 (08:57):
We see what they let us see, or we see
it at least what some news outlets are able to expose,
and others want to try to make a story up
to try to protect for some reason this or these
god forsaken acts of insanity. So with that being said,
(09:18):
I mean, you realize, guys that there is almost there's
a genocide going on, literally a genocide going on in
Africa right now. Or Muslims are wiping out village after
village after village of.
Speaker 2 (09:35):
People who consider themselves Christian, and it's it's some of
the most awful I've seen the video footage.
Speaker 3 (09:41):
It's some of the worst video footage you can possibly imagine,
just literally laying waste to an entire town or an
entire village of people. And there's videos out there. Some
of them are not quite dead. And what do they do.
They walk up execute them bank like nothing, Like they're
not It's not even like killing an animal.
Speaker 2 (10:02):
It's worse than that.
Speaker 3 (10:05):
So this is just another stark reminder that this craziness Islama,
the Islamic nation fortifying itself for this holy war. You
can call me Islama phobic all you want. I've been
(10:26):
screaming about this for the better part of a decade
and nothing at all seems to be done about it.
And I'll go back to something that I often talk about,
how many Muslim nations and Muslim entities actually come out
and speak out against any of this stuff. Saudi Arabia usually,
but that's because most of the folks in the Muslim
(10:48):
Brotherhood and some of these other organizations hate Saudi Arabia.
Speaker 2 (10:52):
But so far in this past calendar some far in
the past calendar year, there've been over seventy seven hundred
around the.
Speaker 3 (10:59):
Globe deaths because of the Islamic religion.
Speaker 2 (11:05):
Seventy seven hundred.
Speaker 3 (11:07):
People have died, that's on the short side of it,
because of these fanatics.
Speaker 2 (11:13):
And it's not random. It's a holy war against infidels.
That's how they carve it out.
Speaker 3 (11:18):
That's how they justify it, whether it's Isis al Keda,
hamas Hezbola. They brand anyone that's not with them as
harmful side effects that need to be erased. And now
they use social media. They have the ability to come
have had the ability until President Trump came along, to
(11:40):
pour through our poorous borders and radicalize the disinfected or
the disenchantized.
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Speaker 2 (15:09):
All right, welcome back.
Speaker 3 (15:10):
This is the A war Zone. I gotta I gotta
share something with you. So here I am yelling and
screaming in the studio wrapping up my uh my monologue,
and I'm thinking of my So I've been doing this forever,
and I'm like, where's the music, because I'm supposed to
get music and it's got to kind of take me
to the break and when is the break kind of
come my way?
Speaker 2 (15:29):
And I didn't hear any any music.
Speaker 3 (15:33):
And then I'm getting like like an avalanche of text
messages from all the boys saying, hey, yeah, we're a
commercial break, so you can stop talking and stop yelling.
Nobody's listening anymore because we had to go to a break,
so I was, I was in the middle. I don't
know what happened. My pendphones must not have been plugged
(15:53):
in all the way.
Speaker 2 (15:54):
I don't know. I know it's this has been one
of these. These last couple of days, man, for me
have been the.
Speaker 3 (16:01):
Weirdest vibe, like crazy, like I literally I'll share it
with you guys.
Speaker 2 (16:07):
I'm going to talk a little bit more.
Speaker 3 (16:08):
About some of the Muslim fanatics in a little while.
Speaker 2 (16:12):
I'm going to get some more information I want to share.
Speaker 3 (16:13):
But like the last couple of days, man, I literally
wrecked this table at the house, broke my snowblower. We
had We had snow, and then I took the snowblower
out and I accidentally ran over an outside rug and
it got caught up in the snowblower blades, and in
doing so, there was a table on the rug you know,
(16:34):
was sitting on a table or the rug was sitting
on the rug on the patio and the whole thing
flipped up in the air. And this, I don't know,
it's a to me. It's a piece of crap table
made in Vietnam, but apparently it's expensive. And I broke
it right, And then I had to dig the remnants
of the rug out of the snowblower, which wasn't any fun.
(16:58):
That took me a couple hours. I'm serious about that.
I was supposed to go to like a political I
couldn't go.
Speaker 2 (17:03):
It was going to be late.
Speaker 3 (17:06):
So anyway, it was like But then, for like the
rest of the last twenty four hours, everything I touch
our break. I'm breaking stuff, so I gotta be careful
what I touch. There's some stuff that I certainly don't
want to break. Anyway, nobody cares about any of that.
But I was talking and I was screaming and yelling
with my big finale and my big finish to the
(17:26):
super great opening monologue, and apparently I was just yelling
and screaming at myself.
Speaker 2 (17:31):
So we'll go back to that a little bit later on.
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know why, I don't know what's going on, and my
headphones are falling out. It's unbelievable. Anyway, that's that's yours, truly.
Speaker 3 (19:45):
So maybe I'll run around outside and jump in the snow,
and when we come back, we're going to talk to
my very good pal. His name is Hans de Spain,
and he's been out with me before. He's an economic
professor at UMass Amherst, and we'll lean on him talk
a little bit about the economy, but I also want
to get his opinion on some of the stuff that
I already mentioned, talking a little bit about terror and
(20:08):
some of the things.
Speaker 2 (20:08):
Going on around the world.
Speaker 3 (20:10):
He is a great person to talk to and bounce
stuff off, So he'll be coming up right after the
bottom of the hour. Keep watching on the Gateway, Pundit,
Patriot Do TV, and all the other great outlets right here.
Speaker 2 (20:21):
On War the War Zone. We'll be right back.
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Speaker 3 (22:08):
My name is Lee Elsa, the Voice of Freedom, filling
in for Wayne Allen Rude, who is partying like a
rock star with the President of the United States tonight
in Washington.
Speaker 2 (22:17):
He should be back tomorrow joining us right now.
Speaker 9 (22:19):
Oh.
Speaker 2 (22:19):
One of my great friends that comes on the show.
Speaker 3 (22:22):
Not Enough. We would love to have him on a
lot more. He's a smart character. And of course Amhurst,
he's an economics professor at UMass Amherst.
Speaker 2 (22:29):
And we love to have Hans des Spain on. Hans,
how are you man? MIC's muted?
Speaker 6 (22:37):
Sorry about that, I was cut. It's your first usually
do on your show.
Speaker 2 (22:43):
Well, welcome, buddy.
Speaker 1 (22:44):
How are you?
Speaker 2 (22:45):
I'm doing well?
Speaker 6 (22:46):
How about yourself?
Speaker 2 (22:46):
We're doing good.
Speaker 3 (22:47):
So I guess before if we have time, we'll do
the economics part of this and maybe in the later
in this first segment or in the second segment, but.
Speaker 6 (22:55):
Thank god, I would rather not do the econ well.
Speaker 2 (22:59):
I would like to just get cure.
Speaker 3 (23:00):
I mean, we've got a world that seems like it's
upside down, brother, And you know, I know you you
see the kids every day, and you know, you're in
class every single day, and what's the feeling when the
kids see a shooting, you know, like at the Honika
festival or even closer to home, is shooting right down
the road in Brown, at Brown?
Speaker 6 (23:17):
What's crazy? You know it's there. We're we're in finals
week right now.
Speaker 11 (23:24):
So I haven't had a lot of interaction with students,
but I've had some. And you know, people get anxious,
you know, it's we're uh, we've.
Speaker 6 (23:40):
Got a lot of political tensions.
Speaker 11 (23:42):
I haven't seen any commentary on what motivated the shootings
at Brown, have you.
Speaker 3 (23:51):
Well, there were some rumors circulating that, you know, the
shooter did say the the ac bottle, but there's been
no confirmation of that, and so I'm not I'm not
ready to go with that, but that was some of
the rumors that.
Speaker 2 (24:03):
Have been floating around out there. And who knows, you.
Speaker 11 (24:06):
Know, yeah, yeah, I heard the rumors, but I you know, yeah,
but who knows. But yeah, definitely it gets it always
gets me a little bit nervous. You know. I think
there's reasons for people to be upset and and of
course it should never turn to violence like that. That's crazy,
(24:27):
but but you know, it happens, and you know, the
shootings in Australia.
Speaker 3 (24:33):
Also, have you have you ever had to get to
a position in class? I mean, you've been teaching for
a long time. Have you ever had to sit down
with the kids after something like this happened and just
sort of talk it out with them over the course
of a.
Speaker 2 (24:48):
Week or even longer.
Speaker 3 (24:50):
You know, I point to san diy Joko though those
kids were smaller. But there have been, you know, been
mass shootings. It's like a weekly occurrence now across the country.
So I mean, I have you ever sat just sat
down and talked to these guys?
Speaker 6 (25:04):
Yeah?
Speaker 11 (25:04):
I mean, you know, I'll show you, you know, two stories.
Speaker 6 (25:08):
One incidental event.
Speaker 11 (25:10):
The other one of our one of the generation's most
significant events at a not.
Speaker 6 (25:19):
A UMass amates.
Speaker 11 (25:19):
I won't name the college that I was employed at,
but you know which one. People can look it up
what they want, I guess. But there was an accusation
of hazing. And it was a baseball team, you know,
near near and close to your heart.
Speaker 6 (25:35):
Uh.
Speaker 11 (25:36):
And I asked, and yeah, you know, people got transported
to the hospital freshmen and uh. But I just started
talking about it and I and I, you know, where's
the leadership?
Speaker 2 (25:49):
Is what I asked.
Speaker 11 (25:50):
You know what you know other sports teams. I followed
the basketball team and soccer. No way would that ever happen.
No way, they insisted it wasn't hazing. Anyway.
Speaker 6 (26:02):
The point of that.
Speaker 11 (26:03):
Story is, you know, I when I left the classroom,
I went back to my office and there was an
email to all the faculty not.
Speaker 6 (26:09):
To talk about it. And immediately I just you know,
I was very upset that you know, this, this is
a community moment. You talk about these things, and that discussion.
Speaker 11 (26:23):
You know, we we had the captain of the basketball
team and a soccer player in that class. I knew
them both well, and they immediately said this. You know,
they just echoed what I said. They said, you know,
that's ridiculous. You know, somebody on the baseball team should
have made sure that that didn't happen.
Speaker 6 (26:42):
That one's incidental.
Speaker 11 (26:43):
The more serious one is ninety eleven and I was
at umss Amherst as you know, Lee, I was there
and left and came back. But I was at umss
Amherston in two thousand and one and I spent several days.
All we talked about was you know, that event and and.
Speaker 6 (27:08):
And issues related.
Speaker 11 (27:10):
And again we were not prohibited to talk about it,
but we did receive an email suggesting that we don't.
Speaker 6 (27:19):
I thought that was a mistake. I think you talk
about these things, you know, so I.
Speaker 2 (27:25):
I think I think you're right.
Speaker 3 (27:26):
I think you talk it out in particularly those kids
are and I say kids, but those students are searching
for someone to hear them out.
Speaker 2 (27:33):
And you know you're a perfect guy to do that.
And you know, as.
Speaker 3 (27:36):
Far as the hazing goes, Man, I've been on a
lot of teams, Hans. I never understood that, and I
think it's I was always I always pushed back against that.
Any team that I was on, we never did anything
like that, but I could never understand that.
Speaker 2 (27:48):
It made no sense to me.
Speaker 3 (27:50):
It doesn't build any camaraderie. All it does is build animosity.
Speaker 11 (27:54):
Yeah, and it's what the baseball player said. In that
particular incident, you know, was that there was no hazing.
What happened is that a couple of freshmen that got
transported thought they were going to be in big trouble,
so they were. They told the medical personnel that it
was a hazing incident, that's why they got so drunk.
(28:16):
But in including one of the freshmen that got transported,
but it was in the class. I found that out
like six months later. He confessed it. Said, I wasn't
going to say anything. He said, I didn't accuse anybody
of hazing, but I was one of the kids that
got transported. Just an over drinking and the upper classmen
encouraged it.
Speaker 6 (28:35):
But it was not hazing, you know, but in just.
Speaker 3 (28:38):
A general sense of hazing. I've always hated that never
made any sense to me.
Speaker 11 (28:43):
I think hazing happens, but you know, I think that
you know, there's a lot of things that bring teams together.
In sharing a drink, whether you're legal or not, is
something that happens. I'm not saying that's right, but I'm
just saying it happens.
Speaker 6 (29:02):
Among other things.
Speaker 11 (29:03):
I think teasing each other is incredibly important thing to do.
Speaker 6 (29:07):
If you want to call that hazing, I just think
you're wrong.
Speaker 2 (29:09):
You know, I don't think.
Speaker 3 (29:10):
That's hazing at all. That's different. That's completely different.
Speaker 11 (29:13):
Exactly when I when I when I tell your listeners
that you have you know, big feet and big ears,
you know, I mean that and all the affectionate.
Speaker 3 (29:21):
But you're not lying Mustard, you know, but you're not
lying about that kid, exactly.
Speaker 2 (29:28):
It's not hazing.
Speaker 1 (29:31):
To me.
Speaker 11 (29:32):
It's expressing an affection, you know, honestly, and that can.
Speaker 3 (29:36):
Be Yeah, that's what builds team. Got to me, that's
what guys do. You know, it's they just do it.
I mean, the better, the better you can break stones,
the probably closer friendship you have with that person.
Speaker 6 (29:46):
That's just the way, exactly, And it's you know, it's it.
Speaker 11 (29:50):
It articulates something else when when you tease one another
or whatever, you know, and it can turn serious and
you know, we need to learn to be conscientious about it.
Speaker 6 (30:03):
Anyway.
Speaker 11 (30:04):
Yeah, these are important events and we need to talk
about them, and.
Speaker 6 (30:09):
I do it all the time, you know.
Speaker 3 (30:11):
All right, Hans Desbin again, economics Professor UMass Amherst, And
all right, so we'll switch gears. We only have a
couple of minutes left here, and then we can come
back and do you know, five or six minutes more
if you don't mind, But I'll ask you the very
generic thirty thousand foot view. Since we haven't talked in
a while, Hey, Hans, how's the economy right now?
Speaker 1 (30:31):
Well?
Speaker 11 (30:32):
You know, I think the fundamentals are good, and I
think the Trump administration needs to be very careful not
to commit the same error that the Biden administration and
then and then candidate haristed, which you know, telling an
American public things are perfectly fine.
Speaker 6 (30:56):
There's a number of things you can look at.
Speaker 11 (30:57):
You know, with the government shutdown, we're missing the lot
of the most recent data. But unemployment is low, inflation's
under control, for sure, stock market is doing fine. But
job creation, based on some private data that has been
(31:18):
collected because BLS again doesn't have the most recent data,
is definitely weakened. I don't think we'll see anymore rate
cuts in fact, you know, because of worries about inflation,
so Trump administration needs to be very conscientious about it.
(31:38):
The bigger problemly for me, is one important statistic I
follow is a consumer sentiment from University of Michigan. Is
the best source for consumer sentiment. It's at a historical low,
not an all time low, but it's an index usually
averages ninety.
Speaker 6 (31:57):
Is a measure.
Speaker 11 (31:58):
You know, it's like a quarter back rating, right it
has whatever in it, who knows, but right now it's
at fifty five, you know, so well below. It's a
historical average of about ninety. It's been followed since nineteen
forty six. That's significant because that has been a strong
indicator of predicting a forthcoming recession. So you know, and
(32:23):
as you know, President Trump's numbers are down in particular
his handling of the economy. And surprisingly, you know, when
you look at it in terms of Republicans, Democrats, and Independence.
Speaker 6 (32:37):
It's down the most with Republicans.
Speaker 11 (32:41):
It's down ten points with Republicans, about two or three
points from Democrats. Only you have a ten point approval
rating when he entered. You know, now it's down to seven,
so you know, it doesn't have far to go. But nonetheless,
Independence have only gone down by five or six.
Speaker 2 (32:55):
All right to so I know what that means. We
got to take a short break, and we'll do that.
When we come back.
Speaker 3 (33:00):
We'll keep Hans around if he's say, if he's kind
enough to do that, we'd love to have him for
a second segment. So we'll talk a little bit more specifics.
I got a couple specific questions about the economy.
Speaker 2 (33:11):
Listen.
Speaker 3 (33:11):
You can watch what's going on at the Gateway Pundit.
You can watch Patriot dot TV. You can listen on
all the great radio stations from one coast to another.
You can also go to Root for America. Email me
leelsradio at gmail dot com if you've got a question
for me or even Hans, I'll try.
Speaker 2 (33:24):
To pass it along. We'll come right back. This is
the war Zone, all right.
Speaker 7 (33:32):
A special treat for you.
Speaker 5 (33:33):
I want to introduce you to a real hero of
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(33:53):
oil is in a basin.
Speaker 8 (33:54):
Which makes the drilling and production much easier.
Speaker 5 (33:58):
Mark, You're a legend in the oil and industry, in
the gas industry.
Speaker 9 (34:01):
Tell us about your track record.
Speaker 12 (34:03):
Well, I'm a second generation oil and gas guy. My
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(34:24):
four years. I've been in the oil and gas ever since.
You would probably know me better as the chairman of
Ultra Petroleum, and Ultra had a pretty good track record,
which you're very familiar with.
Speaker 5 (34:36):
I think, Well, I think ten thousand dollars investor in
Ultra turned it into thirteen million dollars. Is that correct
in the nine year run of your publicly traded company.
Speaker 12 (34:46):
Yeah, at the high that's true.
Speaker 5 (34:48):
Ten thousand dollars turned into thirteen million. That means one
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Speaker 9 (34:53):
That's an incredible track record.
Speaker 5 (34:55):
Now tell me why this deal lost, Soldier. This project
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Speaker 12 (35:06):
What's special about this is all the other basins of
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(35:26):
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(35:50):
all right.
Speaker 8 (35:50):
The website is lost Soldier dot com. Pretty simple stuff.
Lost Soldier dot com.
Speaker 5 (35:56):
The project forty thousand acres took forty years to piece together.
It's called Lost Soldier Oil and Gas LLC. That's the
company that's the project.
Speaker 8 (36:05):
But the website Lost Soldier dot com.
Speaker 5 (36:08):
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Speaker 2 (36:24):
Thank you Wayne.
Speaker 1 (36:25):
Good to see you again.
Speaker 3 (36:52):
All right, welcome back war Zone and watch us at
Patriot Don TV.
Speaker 2 (36:57):
Listen on the great radio stations.
Speaker 3 (36:59):
I'm Lee Elsie in for Wayne Allen rud He'll be back,
at least we think he'll be back tomorrow, although he
is partying with the President of the United States tonight,
so who knows anything is up for grabs. My guest
this segment is Hans des Spain and we always appreciate him.
Speaker 2 (37:14):
Economics Professor UMass Amherst.
Speaker 3 (37:17):
So, Hans, you've written extensively on how corporate greed and
monopolies contribute to price gouging.
Speaker 2 (37:26):
And you know, at first, when you.
Speaker 3 (37:29):
Taught this or talked about it, I pushed back a
little bit, But I think I'm sort of I'm moving
in a little bit. The needle's moving a little bit
more for me in your direction. Corporate profiteering, monopoly power.
It seems to be driving inflation.
Speaker 2 (37:41):
So what say you to all that?
Speaker 11 (37:44):
Oh my goodness, okay, you always I mean, you know,
if we're just on your show, it's finally, but holy moly,
you need to ask mister rud if this is going
to be okay. Look, first of all, let me just say,
any article you ever come across, has it say corporate
greed in the title of it?
Speaker 6 (38:03):
Written by me?
Speaker 11 (38:04):
That was the editor that made that title, edited himself
or herself, which is fine. You know, if they believe
that we'll get more readers. You know, I've the folks
I work with. I trust them, But nonetheless I wouldn't
necessarily call it corporate grade. What happens is well, specifically,
(38:26):
look the inflation that we had happened, and let's go
remind me to talk about vice president of vents unrelated issue.
But about two percent of the seven percent peak of inflation,
about two percent of it was demand side. You know,
the COVID checks the Trump and then Biden Trump twice
(38:50):
and Biden once set out about two percent of it
from the economic studies. I trust those are the best cents.
Of course, they're also supply chain bottlenecks, and that's actually
what initiated the uptick in inflation. But what made it
(39:10):
persist and drove it for the last at least eighteen
months was corporations took advantage of the fact that they
could look at the data. They have economists just like
me that they hire to look at these things, and
they looked at inflation expectations, not actual inflation, but what
do Americans believe inflation will be in the future, And
(39:32):
it was coming in around four or five percent. So
of course they recommend to the executive team, if you're
big enough and powerful enough, increase your prices. You know,
it's an opportunity to increase your prices because Americans are
expecting prices to go up.
Speaker 6 (39:47):
And so there's some good One of my colleges.
Speaker 11 (39:50):
In ums AMers, Isabella Weber, I think, has a definitive
study on this. This is what drove it those last
eighteen months. In particular, if you look at it. You know,
I'm not picking on any company, but FedEx had an
(40:12):
all time record level of profits in company history in
two thousand and two. They raised their prices in twenty
twenty three. You know, so because again they knew they
could do it. They were big enough and powerful enough company.
So there's a lot more studies being done now, and
(40:34):
it's you know, econuoms always just have some disagreements, but
most are coming around to the idea that that that
that's what made the inflation persist.
Speaker 6 (40:47):
And I say something about.
Speaker 2 (40:50):
No, no, no, please go ahead.
Speaker 11 (40:51):
No, it's a pet peeve of mine that that happened recently.
Is that back in the earlier this year, I forgot
anx what month maybe late spring, early summer. President Vice
President Vance said that the price of homes had nearly doubled.
Speaker 6 (41:10):
Since Biden had taken.
Speaker 11 (41:12):
Office, and about a week ago check sorry FactCheck dot org,
you know that website if they checked that statement and
they said, you know, highly exaggerated, and they said home
prices have gone up by thirty seven percent. But this
(41:35):
is the mistake that Biden administration made. It is true
the price of homes on average across the nation went
up thirty seven percent. I fully embraced that fact. But
what mister Vance was referring to is the thirty year
lifetime of the mortgage with the interest rates going up
(41:55):
from three percent to seven percent. When you include that
it more than doubled.
Speaker 6 (42:01):
More than doubled.
Speaker 11 (42:02):
He understated how much the price of homes had gone up.
Speaker 3 (42:08):
Yeah, and they're going through there through the roof. I
mean the average price is now over four hundred and
forty thousand bucks, and the average owner, the first time
buyers are forty years old.
Speaker 2 (42:18):
I mean when they're buying a home.
Speaker 11 (42:19):
Correct, The average interstrates are six percent, and the price
of the home after thirty years is almost a million
point one million, one hundred thousand. Crazy, So more than
half of it going to interest, you know. So that's
that's the that's the issue.
Speaker 2 (42:36):
Han's destpan. Listen. I wish we had more time, buddy.
I appreciate you carving out some time for us.
Speaker 6 (42:40):
To our thing.
Speaker 11 (42:41):
Yeah, you have a Doctor Nagel coming on today.
Speaker 6 (42:45):
Here's the book.
Speaker 11 (42:46):
I just finished it, so you know, people should stay
tuned in. I should have told him, if you only
have time for one segment, drop me off.
Speaker 6 (42:55):
I'll watch Doctor Nagel.
Speaker 3 (42:56):
Really, I appreciate that he's coming up in a little
less than half hour, half hour.
Speaker 2 (43:02):
We'll be right back.
Speaker 3 (43:02):
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