The following is a transcript from the Pro America Report.
Welcome, welcome, welcome! Ed Martin here on the Pro America Report. And it is great to be together, although a lot happening. A lot happening, and enough of it is worrying that you have to pause and sort of get a bearing.
And so in a few moments, by the way, we will talk with our old friend Andrew Crapuchettes. I always tease him about his name, Crapuchettes. He’s a founder of RedBalloon Work. And if you go to his website, you can look for jobs. And it’s a decidedly unwoke place where people just look for work and they get work and all, and a good guy.
And then we’ll talk with Ted Malloch about some surveys, about a survey that proves that people are brainwashing. People are being brainwashed in this country. They ask people to tell us what you think about America, who makes up America? And people told you the strangest things. Like 22% of all Americans. People answered 22% of Americans are transgender. Well, it’s less than 1%. But why? Because of the brainwashing of the media and the big tech and everybody else. So all that’s going on.
But the big news, of course, is that the stock market is continuing its dive and also rates are going up. So interest rates are going up.Makes it harder to get money, harder to borrow money. It makes it harder on businesses. We are in a tough spot. We are in a very tough spot. If you heard Andrew Gruel, chef Andrew Gruel yesterday about the food shortage, if you listen closely to people, they say the economy.
I mean, look, I was at an event that had this incredible, diverse set of people talking about patents and inventions and things. There’s nothing slowing about human innovation, right? Human innovation in America, especially, but in the world, is growing, growing, growing. It’s amazing.
However, the economy is being dragged in a direction that doesn’t look good.
But one of the things that nobody is talking about is if you have to tighten your belt and if you have to raise interest rates, which means it’s harder to get money, it’s more expensive to get money because it’s more expensive to borrow it. Why isn’t government doing that?
Why is it that we’re spending more and more money on things all over the world? We have another billion or 2 billion or something pledged to Ukraine, up to a 50 billion. We have $380,000,000,000 being spent out of the federal government on all sorts of green energy. There’s nothing efficient about the government spending money. There’s nothing job creating about the government getting into industries. It never works well.
And so we continue to do one or two things, tax people to get the money or print money. And we’re up to and I tell people it was a very sobering conversation over the weekend out at our Eagle Council 51 when Steve Bannon was talking about what people are worried about and what you should be focused on. And he went into this riff on the debt. It’s $30 trillion is the debt. And the problem with $30 trillion in debt is when interest rates, when rates go up, which is what the Fed had to do, the cost of the debt goes up, and the government starts to have to pay more and more of its money for the interest on the debt. And we don’t even know what this means. We don’t even have an idea how to handle it.
Almost $31 trillion in debt and growing, and we don’t really know what it means.
Does it mean we’re going for a crash? Does it mean we’re not? I mean, at this point, everybody’s guessing.
The last time that the Fed had to dramatically raise rates so dramatically was Paul Volcker. They quote him all the time, and they say he raised rates and he cooled off inflation, beat inflation, but he also put us into a recession and also drove up unemployment.
And so the question becomes, what’s going to be the impact of the current economic policies? But back to my point.
Is anybody going to ever stop the spending? There was coverage of the massive waste during the COVID period where hundreds of billions of dollars were wasted. And they have specific examples, I think. $300 million in ventilators New York bought, all sitting in a storage place, tens of thousands of gallons of sanitizer. That’s now out of date. I don’t know how that stuff goes out of date, but it is and on and on.
And the fact is, we’re not hearing the government saying we’re going to tighten our belts. In fact, it’s the opposite. And again, back to my point.
They try not to raise your taxes because nobody likes that, but they are. They’re raising the cost, but then
they’re raising our taxes by inflation. They’re taking from us the value of our money, and people won’t stand this for long. It won’t work well for long.
One of the things that I came out of the Steve Bannon weekend at Eagle Council, and Bannon was all fired up was he tends to be doom and gloom. I mean, he tends to be like, oh, things are going off the rails. I tend to be a little more optimistic. I think a lot of the things that are positive in our economy, including the pressure we’re putting on China, the decoupling with China, which I think is actually going in the right direction, and that even when people say, oh, well, it’s cost of manufacturing goes up here at home, it does, but it also ends up people working here at home.
But my point is, when are we going to see the government start to tighten its belt? Because I go up to the swamp. I live near Washington, D.C. And I see very little change, in fact, on the military industrial complex. It’s high times because of the Ukraine war. We went from the Afghan war and Afghanistan and Iraq now to the Ukraine war in terms of providing dollars as well as weapons. But in general, where’s the tightening of the belt?
And when you listen to our guest in a few moments, Andrew Crapuchettes and talk about work. And his company has got a job posting site. And you hear that there’s a bunch of people that checked out of the economy. They could retire some of the boomers, but the lower income jobs are not being filled and they’re not sufficient. We are in a tough spot.
And again, it’s impossible for politicians to tell the truth when the truth is bad for them. That’s a fact.
And the economy needs dramatic changes. And it’s not just the Fed yanking up the interest rates, but here we go. Stock markets down about 4% in the last what, year or so. And look, it had been up for a record period of time, way up, up, up. So I’m not completely ready to dismiss this as a correction. But it’s getting to be more of less a correction and more of a massive wealth transfer. Well, it is that anyway, but it has the markings of something worse, much worse. So we’ll see what happens.
All right, we’re going to take a break. When we come back, we’ve got Andrew Crapuchettes as well as Ted Malloch. And later this week, I hope I mentioned, I’m going to get Alan Dershowitz and hear from him. So we got a lot happening. And we’ll be back in a moment.
It’s Ed Martin here in Pro America Report.
Don’t forget, it’s ProAmericaReport.com.
I did get a text from one of you, the videos of the Eagle Council 51 over the weekend. There was Steve Bannon and Missouri Secretary of State Jay Ashcroft and others. They will be posted in the next couple of days. We’ll get them posted, hopefully by next week. We’ll keep you informed here. But I did get a text from somebody. Steve Bannon’s presentation was done by Skype because of the problem with transportation. So we’ll see how that turns out in terms of how we can do it, because we got a bunch of questions there and it was great in person. I don’t know how it will translate on video. So we’ll do all that.
We’ll be back in a moment right here on the Pro America Report. I’m Ed Martin.
Back in a moment.