in september, 1847, the us army captured mexico city. mexico was forced to assign a humiliating peace treaty according to wait to get lost 55 percent of its territory. cnx ation of the lands to the united states, let the terrible consequences selected genocide was committed against the indians in california during the 1st half. and 3 of the american ruled, the number of the indigenous people in the region decrease from 150216000 people. slavery, which had been abolished in mexico long before the united states attacked was restored on the occupied territories. this will later become one of the reasons for the civil war in the united states themselves. nations like individuals are punished for their transgressions. we got our punishment. american president ulysses grant rode about the consequences of aggression against mexico several decades later.

here the economy is on the brink. now our economy is what are the envy of the world president bite and during his at 2024 stated, the union said under his policies, the american economy is literally the and what was the cost of everything items consumed by american up by 18 percent. since the day he took office for the economic data support president by this claim, i'm so i know he was it on this edition a story. we're going to discuss the factors which are contributing to this rise. and if it is fair to put the blame on present 5, let's get started. the president joe biden has 2 obstacles. this standing in his way of re election. his

failure at the border and the crippling installation caused by his self termed body nomics agenda. that's by nomics. now central banks around the world are lowering borrowing cost as a global inflation eases for most emerging economies. yup. with most americans paying more for everything they consume on a daily basis. an interest rates at a 23 year high. a con was baffled as to why the american economy is not even in a recession. now, inflation it stay at 1.4 percent the month by the end took office and then sky rocketed to 9 point one percent of june of 2022. all before falling to 3 percent a year later, but it has been stuck near the still elevated rate since the president's critics have also done this phenomenon by the inflation now of record interest rates sitting at above 5 percent, the economy has come to a standstill. inflation is still too high,

a further progress in bringing it down. it is not assured and the path forward is uncertain. we're fully committed to returning inflation to our 2 percent goal. restoring price stability is essential to achieve a sustainably strong labor market that benefits all federal reserve chairman drone power claims. recent high inflation hasn't made it less likely. we will see interest rates cut in the coming few weeks and months to restrict the recent data have clearly not given us greater confidence and instead indicate that it's likely to take longer than expected to achieve that confidence. and initially the fed had predicted 3 rate cuts and for 2024. but the fed wants to see inflation lower to 2 percent before they make any more capital to reducing rates too soon or too much could result in a reversal of the progress we've seen on inflation. and ultimately require even tighter policy to get inflation back to 2 percent without those. 8 mortgage rates are at record highs and getting a loan can feel almost impossible. developers are holding new construction. well,

business and apartment buildings stand empty. meanwhile, food, groceries, gas rent in every other day to day items continue to skyrocket. making only a new home and even having children go out of reach for some, making the american dream even more out of reach. meanwhile, there's a legal immigrants are given luxury contents, credit cards for centrals and free education, or public school system without paying taxes. subsidies like washington dc are now allowing those illegally in the country to vote in elections. well, let's discuss and joining us now, our political commentator in radio has garland nixon and tax attorney and chairman of the americans for, for our taxation. steve, hey, thank you so much for joining the welcome to the show today. i want to start with you steve on this one because inflation continues to be a big problem in the us. do you think it's fair to blame all of it? i'm president biden. a lot of it, not all of it i,

i heard the congress somewhat accountable as well. because even though there has been removed by many republican members and not very many, but freedom congress primarily to reduce spending. there really hasn't been any appetite to bring spending down and then you see that things are being passed through congress to continuation yes, it's less than the president would have liked, but it's still there. but i think you have to look at this great increase in spending federal spending in the debt as a large reason. and you've got people paying on an average $12000.00 a year or more. they're having to finance things than they were 4 years ago. you've got prices up in a lot of items, hundreds of items by over 50 percent. some of the prices that didn't go up. there are fewer of the same peer oreos in the package and there were before shrink. you know what i said, right?

yeah. so what you guy is a situation where i think a lot of it's coming from the top from the president, but i think we have to spread the blame he fully around because you've got a lot of people who are participating in what i believe is going to be your race to the, the cliff and over the clip. well, that's the thing, darling. do you think a lot of people actually realize this is happening or we can say inflation to or do you think they're actually noticing it because it's just a few pennies here. a few pities here. where do you think people realize that inflation is really taking a large impact, like you said, $10.00 to $14000.00 annually out of their normal household budget? absolutely, because you know, a month, friends and neighbors, that is the, the, that is the most significant issue that i hear, discuss the cost of things, the price of common goods that they need as you know, household goods of fuel, etc. so i think that that is a, it is significant to people. i think that what we're seeing is with abiding administration and administration that focuses everything on their crazy world hid

gemini plan to, you know, contain china rush or whoever. and that part of what we're looking at as backlash from that, whether it's fuel prices, whether there's issues with china, rather than focusing on how they can make life better for the american people, they're just spending money on the weapons taking actions that are detrimental to prices at home, so you would obviously advocate for more policies here in the united states centrally. but is that kind of a pipe dream? do you actually say, democrats or republicans actually putting money back into the american economy? when it's so much easier to spend it abroad? what would the fact of the matter is if we're honest, they have completely abandoned the american economy, the ruling elite, or at this point have, i mean, politically, ideologically, or not align with their constituents in particular, i would say more. so the democratic party then the republican party as a whole and, and the, and the element of the republican party that is aligned with abiding administration . they have no focus whatsoever on the needs of the american people. and i think

there's gonna be some significant prices to pay for the that's gone next november. well, that's the thing. stay where the worry all we are in a watching your and as you talked about, the latest budget bill as up to more than one trillion dollars being added to the us debt has been passed by congress. do you think us congress actually knows or even cares about the inflation issue besides just a campaign? speech r r, i will tell you what i believe in carla mentioned. this is the leads you know, the payments are not famous, but again, for most perhaps recipes and poll showing that of the leaves, which he defined, i believe, is making over a $150000.00 per motivate universities living in the metropolitan center. they routinely, it's met in the poll, like 60 some odd percent, is a politically active ones. it's ok to cheat on the election. and the reason behind this is because they know better than we do. they're the ones that are revising people because people like you,

people like garland people like me. we're just not smart enough because if we were smart enough, we wouldn't question anything they do because it's all being done for us. so i think it grows actually right. the big problem, and it's not even talked about which is funny, but a lot of the people in biasing members of cargurus are advocates of what's called modern monetary theory. under modern monetary theory, which actually was helped in the early 19 hundreds, data sets don't matter. as long as you spend money for infrastructure and things and taxes are only used to control inflation. so you've got a lot of these are rates and they're advising members that are telling them don't worry about the definition. it's ok. don't worry about it. but you see the interest rates going up to finance the data says you see a huge shift down in the number of foreign countries that are willing to bet on the

us by buying long term debt. we're becoming a situation where the bad thing is forcing all of us individuals to compete with government bonds for finance. and, you know, obviously government pots are kind of be in a much better rate because they're supposedly guarantee what they're thinking. okay, it's dave, just problem. i my next part of is because what role is the fed playing in everything that's going on right now in house, in helping to give us remedies to actually tampered down inflation. we'll see the problem is the said only has one tool. you know, it has 11 tool for a very, very complicated problem. they can raise and lower interest. you obviously your printer, that's why you all they are. yeah. unfortunately, print body. they don't even need that anymore. they just need a keyboard. you just put a, you know, put a, a period and lots of zeros behind it. but i think what we're looking at also is what the government is spending on. you know, if the government actually, let's say they build, they put money in the infrastructure of schools, things like that. at least you get a multiplier effect. you get

a better educated workforce. you know, you get value that you can transport uh, equipment with better railroad. but when you only spend it on military, like they did one, and there was a lot of the american about exactly what the problem is when you make military products you can store, or you can blow them up. they are, they are inherently inflationary. so even the spinning they are doing though, they're claiming that it's going to create jobs, it is inherently inflationary. and might i add, if it were going to create jobs, which it is it to, the jobs would be in the future because the military industrial complex does not have the ability to produce the things that they're purchasing a media in the immediacy. so the money goes into their accounts and they say, i will get to this stuff in a couple of years. meanwhile, will keep this money and buy back our own stocks or something like that. well, once it goes to circling back to the selves the, that's the problem with all of this. it's like, if you're the new, the elite that we were talking about, they are living in a whole different world. and i think what most people are having to do so therefore, do they have a real clue that this is going and do you actually the fed so that they were gonna

actually cut 3 and 3 times this to your now they're saying they're not using a rate cut, the federal funds would actually help or hurt inflation, considering where we're at today. i think it would have a limited effect, very limited to the fact that depends on the car. but i think one of the big problems that's confused a bad. but i think it's fairly simple, is that the reason why we haven't had an inflation which they were all predicting, you know, why, why is because consumer spending has been so high. you've got record record credit card. yeah. you've got record delinquencies. you're running out of that stimulus. i mean, if, if people stop buying things, you're going to see a large moves. i turn in inflation because companies will lay people off. or you will have other people having harder time borrowing money to become more productive,

which they are now. because that's the only way they can compete is becoming more productive a care finances now because of the rates. so you've got a really tutoring situation. i don't know if it's gonna hit between now and november, but i think the credit card spending speaking. who do i, that's been a primary. yes it is. and your very card and that way, but the, the credit card does occur how much can be spent. there's not like a red line of the credit card companies are kind of people off. there's now so many great government programs that you don't work for this credit card will help you get this. other one is data part of the issue, and have we seen this before and histories? well, what you're saying underlines a structural problem in our economy. the structural prop problem is we the industrialized and we financial lives. so now the money is made off of complex financial tools that are invented on wall street. it's made off with our economy runs off the debt, not off of people going into the word making something. so the question is always been, how long can we can keep building that and my dad a, we have

a real estate commercial real estate bomb. we're sitting right here in washington dc. there are empty buildings all around this thing is waiting to below. and when that does, of course, you know, the government is going to be allowed all of those people because it doesn't fill out the little guys. only the rich people in fact, maybe that's why they're so happy uncomfortable and protecting the by the administrator. going to protect each other, okay, i want to take a break because when we come back, we're going to look at why america and other more developed countries are continuing to see this inflation grow. well, it seems the emerging countries seem to have a better handle on the issue. the

0 near ship did it should. so with the general mind scam, i don't only neely combine in that. i mean, they dive yet, give us credit where image certainly prestone grants and to show us where and where to get ship pushing when you come or sure. absolutely. we have to put it on the floor. so, but i feel as if i gave you around in the sense that matters are name really quick here to raise your bill lowered to i also have to visit with dukes are cuz these are closes tours. they're performing the

this is the close of business. so i'm sure you know, trying to settle or shift from sister i was in dearly or courtney church the we are one there or tools are heavier or shave or last? no my orders, those are here. there's a reformer in june victory or mama there. yeah. order, same story. so you're more the welcome back. i want to continue this discussion on the current economic state of america and the impact it will have on biden's bid for a 2nd term and bringing out because we have comedy or steve gill along side political commentator and host radio has scarlet nixon and tech attorney and chairman of americans preferred taxation. steve hays, welcome to the party,

steve gill. you know what i want to go with something garland was talking around the last segment, real estate inflation in real estate. and the fed saying that they're not going to cut that they're not looking to cut it cut and give it another to cut this year. what problem is it right now? do you think how much of an impact does it have? the fact that our buildings are empty, per real estate is storing. but who is by? well, 1st of all, our goal instructed right is a ticking time bomb. you know, when cold except people home, people haven't come back and companies have move forward with less people which means less space to fail. the desire to have a lot more of those big office buildings in downtown, when a lot of people are working remote, you've also seen the impact uh, in post cobra's and of, of the by nomics of, of inflation. the small businesses, they're in the strict shopping centers in suburban and rural america. they're closing their doors. even big box retailers are closing their door. so it's, it's

a commercial real estate problem. it's an office real estate problem. and as you mentioned with a high interest rate, it's, it's having a big impact on people trying to buy a home or, or even pay rent. it is reported on the left side, but the people making these decisions in washington. they're not driving cars and seeing, you know, gas prices bumps back up above $4.00 a gallon when it was a $1.85, they're using the metro. they're not a family having to go to soccer practice and fill up a couple times a week. and our installation numbers are artificially low because they're not counting food and fuel. the people in washington saying that the prices aren't bad . they're not shopping for groceries because anybody that's going shopping, you're getting half of cards for what they used to get a full cards. they're paying more for bread and eggs and everything else. and yet they're telling us inflation isn't really a problem. we just saw g d p numbers come in a full point, less than what they expected, receive inflation numbers, which again, they're artificially holding down. be lower,

even though they told us 1st there was no inflation then then that they have controlled it. now they're just saying, wait is gonna have to deal with great. another number certificate we can't trust to be accurate, manipulate it again. i'm wondering if there's any numbers that come out of politics these days that we can that being said vitamins, there's a came out as a guest, what inflation is slowing here in the united states. but it doesn't seem, prices are going down, isn't that a good sign that what the white house is feeding isn't the truth. yeah, and it's a, i think we're at a point now where the people on the street are basically trusting what they see. you know, the time over what they used to be tightly the times when the government could say, you know, okay, well this is good or this is bad and people go along with it are far behind us. the trust in the government is, is, is gone. and so i don't hear people saying, well the government said this or that i hear people say let us was 99, sit now it's 299. they're looking at solid things cuz they have to buy and they got $3.00 kids and a mini van that they got to put food and gas in. and so they're going by what they

see here in the field on a day to day basis. they know how much money they're making and they know what's left if anything, after they get that. in fact, i would argue that it makes people angry when the government tells them that everything's okay and they know that that they're hurting. they know they're being head. okay. in a way that's almost good news cuz i do like the fact that people are paying attention not necessarily taking the government's words straight for what they say . but stephen, you know, effect inflation is usually felt most by the middle and lower class. can americans continue to keep up with this rising pace when it comes to cost of goods? at what point do we see that red line of enough is enough? i think for starting to see of them, this incredible increase in credit card debt. you're talking about, as i said in the last segment, you can see in a lot more defaults, you're going to see people unable to even start making the minimum payments at this point. and when that happens, you have it down there. part of behind is the psychology. i better buy it today because it's got to be a lot more in 6 months. okay,

we're thinking like the why am our republic, you know, when money was devaluing every day. but it's going to come to an end because i like government, they can't a trip more money to pay their bills. well, as it comes either out of your income, they have to reduce something else. you know, garlands is taken into soccer practice. some of those things are going to be cut back because they only have so many choices. and that's going to happen here, like i talk about the policy of washington, is usually being made by people who haven't had a job since high school. and they were maybe setting or a more lines in the private sector. these are people is garlan pointed down and steve pointed out, who's been largely protected. did they get paid during co when nobody else? yes. how are they getting paid regardless? yes for oh, they don't care. so vacation, probably going to get paid. well,

that's what i'm going to use before making some decisions and they're going to get paid. but there's also the impact that's going on around the world. and steve, i know how garland feels about this. we, we just give us a little taste of his opinion. i got to ask you, what do you feel like the impact does of, from america, and there's rising cost me inflation, we're having on other countries. it didn't seem to be reducing the amount of aid us is given to other countries. all the not the only thing that's producing is here at home. well it and sadly we're borrowing billions and billions from china and then spending that money on stuff we buy from china. we're borrowing from them and they're giving them back the money. when i was working for the, for the us government, us trade representative's office, we were working on that. the expanding trade draft caribbean basin in south and central america. and those countries would say very clearly when the us sneezes we catch pneumonia. and so when the us economy has, has a problem, the rest of the world suffers and suffers dramatically. and there are a huge red flag warnings that the during the next several months thinks we're going

to get much worse, rather than better as our inflation numbers go up. as we continue to standard steven pointed out money, we don't have putting it on the on the credit card. american people are keeping pace. ready what they need to abide by putting it on the credit card and they're paying 18 to 15 percent interest rate on that money. there is a huge crisis coming there and gas prices are going to go up divided those races, talking about releasing what level we have left in our strategic petroleum reserve to try and buy some lower gas prices as we had into september and october. yeah, that made marginally move the prices down like they did last election year. but the reality is those prices will remain high and on like everything else, people drive around the town. basically those gas prices on every corner. they know the difference in a buck. $85.00 and $4.00 oh $9.00. and they're a big sides on every corner that divides administration cannot. hi. well, it's interesting because i feel like post a pandemic, a st brought up, you know,

cove in these smaller countries. we're actually better at guess, financing and, and that's the point that we make stupid decisions here in the country all the time about it. you know, they make better decisions than united states that you created. france. does this mean that they have handled in economics that can handle that economic crisis just because they're so small? well, and i think part of it is it, they're, they're, they're working to get out from under the u. s. umbrella, which has been, which has been economically predatory, which has been dia, mass, etc, go into their countries, leave them in giant dead holes and they're working to get out from under that debt . so i think that's one of the things that's working on their behalf. i do think that tony blinking is in china right now and there's another disaster divided ministration. they're always doing something crazy. he's going to go there and create the chinese and they're, you know, by sanctioning their banks or something. something will happen in return that will hurt the american people. the thing you remember about debt when we talk about debt, there's one thing to remember. we talk about owing debt, but there are people who the who finance the debt,

the people who we owe the debt to. those are the people that are financing defined administration. so they're thrilled with this that for all of the anger that the working class talks about with that, the people who are financing the politicians don't want to see a change because that's, that's how they eat on that side of it won't take care of that. you know, stephen, do you believe in america based on what we're doing is right now is on a crash course for recession. and when do you think we can see that actually physically occurring in the united states or? i think they're going to keep stimulating the economy through the election in every way they can. i mean, we're looking at, i mean, it was predicted it would be by now earlier, and i don't know. that's the only reason that i think the credible increase in credit card spending is helped offset that. i think sometime in the 1st quarter of next year, we're going to see you're a pretty heavy cut back. you know, a lot of things in this economy. i mean, steve pointed out as the g d p is down,

but you know, it's hard to predict because of when you get free money, you delay the inevitable. and that's what they're doing. you're giving free money, you're getting benefits, or adding programs and disperses. but i think that, you know, mary go round is going to stop. okay. i think it's going to be in the quarter of next year. so the steve, gail, i gotta give you the last 4 on the she mentioned that they're going to release what little they have left our oil reserves to try to bring the gas prices down close to the election. is there anything else that will give us a fake sense of stability and calmness in regards to the economic situation? united states that we can expect to happen in the next 9 months? i think for the most part, everything is already baked in. you're not going to see a dramatic reduction in, in oil prices, gas prices, inflation g d b is not going to go up dramatically and is gone and mentioned, we're over it with a anthony blankets threatening china and their banking industry for us doing for

them doing business with russia, we're threatening india that if they keep buying russian oil, we're going to put sanctions on them. paddle drive up gas prices, everything divide with those ration is doing is making things worse. and just by an example, g d, p in russia is about 2.6. ours is 1.6, there. inflation is about 7 hours is re out real terms about the same and that's with them having to face sanctions. we're destroying the world economy. in addition to our own, and it's going to get worse rather than better. and stevens right, the real, she was going to drop right after the electric. we're going to pay the price for the state means i'm trying to cover up how bad bind nomics actually is. well, there's more common sense means focusing on this page, say then down the street at pennsylvania, 1600 pennsylvania avenue. i wanna thank you so much for joining our panel, girl and nicks and steve gill and steve hayes. i think it is foolish to say the economy cannot be predicted. granted, a crisis can always have an effect,

but in modern times, the responsible action would be to be prepared rather than soley reactionary. if we have learned anything over the past few years, when it seems we have overcome one crisis, there's going to be another one just around the corner. the difference is if a politician uses the crisis at the moment for their own benefit, printing and releasing at large amounts of money with little accountability to the public. might when you vote in the short term, but creates an economic mess, which sadly is felt longer by the people and it presents terminal i've got now here's into spinning your 360 view for watching the french president, the manual look around says he's advocating strategic ambiguity. when it comes to the ukraine, this includes sending western military personnel to fight for ts. this is not

strategic ambiguity, but rather strategic confusion. the russian states never as tight as i'm sort of the most sense community best. most all sense of the, in the 65 with the keys, 195 and speed you one else calls question about this, even though we will then in the european union, the kremlin media mission, the state on rochester day and split the ortiz full. even our video agency, roughly all the band on youtube, the payment services for what question did you say they requested the

sooner you ship the to choose? so the generalized scale model is only dealer the guy, the guy needs this idea of give us a user. can you send me an image fairly pressed ok branch and to show us where you want to change your shit for she when you come or update or what are you sure. and i'm told to put it on the floor. so if i gave you some of your background in that matter, i certainly am way through frontier that won't be able to log in to visit with you because you start to use tortures. triple pole the that are just to try to shoot both of these things.