WEBVTT 1 00:00:00.440 --> 00:00:04.519 Attention. You're listening to the top Huff radio show, America's home for conservative 2 00:00:04.679 --> 00:00:08.679 not bitter talk radio. Be advised. The content of this program has been 3 00:00:08.679 --> 00:00:12.320 documented to prevents and even cure liberalism, and listening may cause you to lean 4 00:00:12.359 --> 00:00:35.000 to the right. Here's your conservative but not Bitter host, Todd Huff reading 5 00:00:35.119 --> 00:00:38.799 is my friends, and welcome to this hour of the Todd Huff Show. 6 00:00:38.799 --> 00:00:43.240 It is as always my pleasure to be here, and if you want to 7 00:00:43.280 --> 00:00:46.640 be part of the conversation, I invite you to do so. You can 8 00:00:47.240 --> 00:00:52.240 email Todd at tonhoffshow dot com. You can also text three one seven two 9 00:00:52.320 --> 00:00:56.399 one zero twenty eight point thirty. Let just make sure that you include the 10 00:00:56.439 --> 00:01:00.920 appropriate amounts of adoration and praise, which as a massive ego. But here 11 00:01:02.000 --> 00:01:04.719 behind the microphone here you're going to have to realize that it is pretty high 12 00:01:04.760 --> 00:01:11.879 expectations on my side as it pertains to the adoration and praise. But in 13 00:01:11.959 --> 00:01:14.439 all seriousness of my friends, I welcome you to reach out. Just make 14 00:01:14.480 --> 00:01:18.319 it count. Some folks don't most folks do. One of the things we're 15 00:01:18.359 --> 00:01:22.799 working on. By the way, I get asked on a regular basis folks 16 00:01:22.799 --> 00:01:30.400 that want to talk to call in. We are not yet looking to do 17 00:01:33.359 --> 00:01:38.879 you know, live callers managing some things here on our side. That could 18 00:01:38.879 --> 00:01:42.359 be something we look at in the future down the road. But one of 19 00:01:42.400 --> 00:01:49.640 the things that we are considering looking at is the possibility to call in if 20 00:01:49.680 --> 00:01:57.439 you're a member of our Inner Circle program, which we'll be launching here hopefully 21 00:01:57.560 --> 00:02:01.079 quite soon. So that's something that is a member you could actually call and 22 00:02:01.200 --> 00:02:08.800 be on this this program. So not yet, but it's coming. So 23 00:02:08.919 --> 00:02:13.599 today this hour, I want to talk about, you know, what we're 24 00:02:13.680 --> 00:02:16.759 lied to about a lot of things. In fact, I just saw headlines 25 00:02:16.800 --> 00:02:27.039 here New York Times ap talking about inflation, talking about inflation. In fact, 26 00:02:27.120 --> 00:02:31.840 let's read what some of these headlines say, USA today. Inflation eased 27 00:02:32.159 --> 00:02:38.400 to three point four percent in April. It eased to three point four percent 28 00:02:38.439 --> 00:02:43.759 in April. CPI data shows what that means for FED rate cuts. Okay, 29 00:02:43.960 --> 00:02:50.400 that's fine, but a lot of these headlines are talking about how it's 30 00:02:50.520 --> 00:02:53.240 ticked down. I think that's what I think. That's what the New York 31 00:02:53.319 --> 00:03:00.520 Times article said. It said that inflation ticks down. It went from three 32 00:03:00.560 --> 00:03:04.560 point five percent in March to three point four percent in April, so they 33 00:03:04.639 --> 00:03:08.639 want people to hear the mess is that inflation is going down. But man, 34 00:03:08.680 --> 00:03:14.960 there is so much, so much context that is missing on this. 35 00:03:15.680 --> 00:03:19.759 First of all, we'll actually we'll break this down. We'll get into this, 36 00:03:19.800 --> 00:03:22.639 we'll get into inflation. I want to play a sound bite from the 37 00:03:22.680 --> 00:03:29.120 late great Milton Friedman, the great economist Milton Friedman, which I would encourage 38 00:03:29.159 --> 00:03:31.800 you to check out as many things on Milton Friedman. You know, that's 39 00:03:31.800 --> 00:03:35.319 something else we could do on the Inner Circle is talk about some of his 40 00:03:35.400 --> 00:03:42.439 old I don't know his messages and just he's a was a brilliant guy, 41 00:03:43.000 --> 00:03:46.199 brilliant guy that we could learn a lot from. I have learned a lot 42 00:03:46.240 --> 00:03:50.319 from Milton Friedman. Many of you may have as well. He's of course 43 00:03:50.319 --> 00:03:53.960 written books. He's used to go remember the old show. This was a 44 00:03:53.000 --> 00:03:58.000 show when I was a kid. Donahue, Phil Donahue, leftist Phil Donavue 45 00:03:58.080 --> 00:04:02.479 actually had him on and Milton Friedman I think may have broken through on Dona 46 00:04:02.560 --> 00:04:05.960 Hue for a couple of things. Anyway, talk about this today because it's 47 00:04:06.000 --> 00:04:11.520 important. We're lied to about this stuff, or we're given just enough information 48 00:04:12.159 --> 00:04:15.639 to feel like we know and then we're pushed in the wrong direction, like 49 00:04:15.680 --> 00:04:18.199 when they tell us inflation is ticked down, it's still much higher than it 50 00:04:18.279 --> 00:04:23.600 was ever when Trump was in office. It's much higher than it was then. 51 00:04:23.639 --> 00:04:28.079 It has been in recent years, regardless of who the president has been, 52 00:04:28.160 --> 00:04:31.000 unless that president has been named Joseph robin At, Biden or Bribery. 53 00:04:31.000 --> 00:04:35.199 If you prefer, we'll talk about all these things. I'll play a clip 54 00:04:35.199 --> 00:04:39.240 from Milton Friedman. And ironically, as I was preparing, you know, 55 00:04:39.279 --> 00:04:46.279 I as I had seen, you know, the inflation numbers and just the 56 00:04:46.319 --> 00:04:50.720 reality that the FED, the FED has reported an even CNN has picked this 57 00:04:50.879 --> 00:04:57.879 up. CNN has said it's not corporate greed that's fueling inflation. By the 58 00:04:57.879 --> 00:05:00.639 way, that cannot be what fuels inflation. I'm going to play a clip 59 00:05:00.680 --> 00:05:03.240 on that, but I just want to talk about this. We are misled 60 00:05:03.680 --> 00:05:09.720 and deceived about the causes of these things, things like inflation. What is 61 00:05:09.839 --> 00:05:15.360 actually the reason that we have it? People conflate terms. It confuses people. 62 00:05:15.959 --> 00:05:18.120 And then when people are confused, confused by the way by the very 63 00:05:18.240 --> 00:05:24.439 experts that seek to confuse them, so that then the common folks simply say, 64 00:05:24.480 --> 00:05:27.160 you tell us what to do, because this is way too complicated for 65 00:05:27.240 --> 00:05:31.240 us. We can't keep up and see the mark of someone who really grasps 66 00:05:31.480 --> 00:05:38.000 something is to be able to explain it in the simplest of terms. Was 67 00:05:38.040 --> 00:05:43.480 it Jefferson? Jefferson? It was one of our founders said, said, 68 00:05:43.519 --> 00:05:46.759 the greatest of all skills I'm paraphrasing, but it's very close to this. 69 00:05:46.839 --> 00:05:51.399 The greatest of all skills of that is only of only using one word, 70 00:05:53.480 --> 00:05:56.920 is that of not using two words? I should I say that rephrase that 71 00:05:57.199 --> 00:06:00.439 the greatest of all skills is that of not you using two words when only 72 00:06:00.480 --> 00:06:04.360 one will do. Of course, I want to say to that founder you 73 00:06:04.360 --> 00:06:09.839 probably could have said that a little bit shorter, but nonetheless there's truth there. 74 00:06:11.040 --> 00:06:16.240 You really want to communicate clearly, cut through the you know, the 75 00:06:16.279 --> 00:06:21.800 nonsense, and cut through some of the bonus words and get down to the 76 00:06:21.800 --> 00:06:27.279 core of it. And so that's what we want to do here today, 77 00:06:27.319 --> 00:06:30.560 and that's what the experts don't do. So but before we do that, 78 00:06:30.639 --> 00:06:34.120 let me tell you about our friends at z Stack. 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And at the bottom of the list was like eggs. 88 00:07:19.759 --> 00:07:23.319 You know, you go back and forth on the odds. Chuckled at that. 89 00:07:24.519 --> 00:07:28.399 You know, people go back and forth about different products. But you 90 00:07:28.480 --> 00:07:31.040 get down to it. You get down to it, and when you realize 91 00:07:31.040 --> 00:07:39.000 that we are that we were put here by God and given given food resources. 92 00:07:39.879 --> 00:07:45.199 He created things to fuel our our bodies, and we haven't always done 93 00:07:45.240 --> 00:07:50.000 a good job of eating the right things or getting the right nutrients. And 94 00:07:50.040 --> 00:07:56.040 that's why sometimes it's nice to have a supplement. So Zstak has formulated a 95 00:07:56.079 --> 00:08:01.480 series of supplements that had been formulated by doctors Alinko. There six types or 96 00:08:01.560 --> 00:08:09.920 six formulations that you'll find on their website at zstacklife dot com. 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He's available 105 00:08:46.279 --> 00:08:50.720 in more locations than you may think, visit Todd huffshow dot com slash speak 106 00:08:50.799 --> 00:08:56.240 for more information. Okay, my friends, so we're told that inflation has 107 00:08:56.600 --> 00:09:03.360 ticked down from May, excuse me, from March of this year to April 108 00:09:03.399 --> 00:09:05.240 of this year. So why are we just now getting April and April's numbers. 109 00:09:05.240 --> 00:09:09.440 Well, it takes some time to calculate. So basically, each calendar 110 00:09:09.480 --> 00:09:13.919 month, about two weeks later, roughly you're going to get some of this 111 00:09:15.200 --> 00:09:20.440 data from the previous month. So around mid April you would get the data, 112 00:09:20.480 --> 00:09:26.000 we would get the data for March. Around mid May, we would 113 00:09:26.000 --> 00:09:28.960 get the data for April. So it's lagging behind just a couple of a 114 00:09:30.080 --> 00:09:35.399 couple of weeks. And oftentimes, oftentimes it's important to note this. Oftentimes 115 00:09:35.440 --> 00:09:41.000 these numbers are later adjusted, which I know that I know during the Obama 116 00:09:41.039 --> 00:09:45.879 administration, a lot of these numbers. In fact, I think unemployment numbers, 117 00:09:45.879 --> 00:09:50.399 it's different numbers of course that are coming out pretending to things like inflation, 118 00:09:50.600 --> 00:09:56.639 like employment. But there were many times, almost well almost every time, 119 00:09:56.200 --> 00:10:03.039 these numbers if they were if they were needing to be low numbers, 120 00:10:03.960 --> 00:10:09.519 for example, say unemployment, the initial number would come out, that's what 121 00:10:09.600 --> 00:10:13.840 was reported, that's what was talked about, that that's what was revealed as 122 00:10:15.000 --> 00:10:18.440 the actual reality. But then a little bit later the other numbers would come 123 00:10:18.480 --> 00:10:22.200 out and it would be the numbers would be worse, and so there can 124 00:10:22.240 --> 00:10:26.679 be games that are played with these numbers. The Obama administration did this routinely, 125 00:10:26.840 --> 00:10:31.879 almost I would almost every month, and I think it was unemployment numbers, 126 00:10:31.919 --> 00:10:35.200 but they were doing this with some numbers. But as of right now, 127 00:10:35.200 --> 00:10:41.320 what we know is that the year over year inflation rate from April first 128 00:10:41.320 --> 00:10:46.080 of twenty twenty three through the end of March twenty twenty four, that twelve 129 00:10:46.159 --> 00:10:52.879 month period, the currency inflated at a rate of three point four percent. 130 00:10:52.919 --> 00:10:58.080 Now it from the month previous, again, the March numbers, which would 131 00:10:58.080 --> 00:11:03.120 have accounted for any thing. From April first, twenty twenty four through March 132 00:11:03.200 --> 00:11:09.000 thirty first, excuse me, twenty three of April to March thirty first of 133 00:11:09.000 --> 00:11:13.000 twenty four, inflation during that period of time was three point five percent. 134 00:11:13.039 --> 00:11:18.480 And so now they're saying inflation is going is going down, and that's what 135 00:11:18.519 --> 00:11:22.200 people will take and run with. That's what Biden will say, That's what 136 00:11:22.480 --> 00:11:26.600 the pundits in the media will say. But that, of course is just 137 00:11:26.840 --> 00:11:35.759 a portion of the story and it's not anywhere near the full picture of reality. 138 00:11:35.919 --> 00:11:39.000 In fact, I'm gonna look up right now, I didn't pull this 139 00:11:39.159 --> 00:11:46.879 up. I'm just looking at inflation rate, rate of inflation. Let's look 140 00:11:46.879 --> 00:11:50.320 at as abs I'm talking here. I'm gonna try to do this rate of 141 00:11:50.320 --> 00:11:54.919 inflation just historical, so we'll look at that. Once I get that pulled 142 00:11:54.960 --> 00:12:03.120 up, I'm the world's worst multi asker here, but we're going to we're 143 00:12:03.159 --> 00:12:05.399 going to try to pull this up. So I found it here, so 144 00:12:05.519 --> 00:12:09.720 let me kind of get my bearings as I'm looking at this here. But 145 00:12:11.720 --> 00:12:18.240 inflation is a phenomenon that is created exclusively by government. It is let me 146 00:12:18.320 --> 00:12:22.480 say that again. It's a phenomenon that is created and not just by any 147 00:12:22.519 --> 00:12:28.480 government, specifically by the federal government. Federal government. I got to sound 148 00:12:28.480 --> 00:12:35.840 by it here from the late great Milton Friedman, who I again have great, 149 00:12:37.200 --> 00:12:41.279 great admiration for this man. So he's gonna this is a thirty second 150 00:12:41.320 --> 00:12:45.840 clip. This is an older clip. You know. Milton Friedman did his 151 00:12:45.960 --> 00:12:50.440 best to educate the American people on inflation. Milton Friedman did his best to 152 00:12:50.519 --> 00:12:56.759 explain who is the culprit, how this impacts people, what the risks are, 153 00:12:56.799 --> 00:13:01.759 and how we need to address it to fix it. Inflation is our 154 00:13:01.879 --> 00:13:09.240 government's subtle way of stealing from you. It's subtle because they're not coming in 155 00:13:09.519 --> 00:13:13.519 and withdrawing money from your account. They're not sending you an invoice for a 156 00:13:13.600 --> 00:13:20.639 higher tax rate. They're not you know, raising your individual tax bracket rate. 157 00:13:20.679 --> 00:13:24.320 They're not doing any of that, they're not sending you a notice saying, 158 00:13:24.360 --> 00:13:28.320 hey, your property taxes are going up. You know, people genuinely 159 00:13:28.759 --> 00:13:33.080 typically don't like that. That's not a good thing. Fact, property taxes 160 00:13:33.120 --> 00:13:37.720 around here in my state, at least locally, have been an issue in 161 00:13:37.799 --> 00:13:45.799 recent in recent years because the property taxes are based upon based upon the assessed 162 00:13:45.879 --> 00:13:50.440 value, and of course the assessed value of what homes costs has been going 163 00:13:50.559 --> 00:13:54.320 up. In fact, I believe I saw since the pandemic, housing prices 164 00:13:54.360 --> 00:13:58.639 have increased. I think I saw fifty percent since since twenty twenty. That's 165 00:13:58.679 --> 00:14:03.679 just what four years, roughly four years and so. But inflation is one 166 00:14:03.720 --> 00:14:13.120 of these things that just it weakens the buying power of your dollar without really 167 00:14:13.759 --> 00:14:16.600 assigning blame. There's no direct notice that says, hey, by the way, 168 00:14:16.679 --> 00:14:20.639 this was caused because the government printed too much too much money, and 169 00:14:20.679 --> 00:14:24.759 that is one hundred percent the reason that there is inflation, Make no mistake 170 00:14:24.799 --> 00:14:30.799 about it. It is not because it cannot be because of corporate greed. 171 00:14:31.480 --> 00:14:35.399 I suppose there could be cases of corporate greed. That, by the way, 172 00:14:35.440 --> 00:14:39.320 is why we went competition in the marketplace. If you have people who 173 00:14:39.360 --> 00:14:43.440 are competing and of course, price is a determining factor as to what people 174 00:14:43.919 --> 00:14:50.120 will purchase. Then if those competitive forces will help keep prices in check, 175 00:14:50.720 --> 00:14:54.200 if a competitor will sell something at half the price, it doesn't mean that 176 00:14:54.240 --> 00:14:58.320 the product that's at half the price should be the one that a consumer buys. 177 00:15:00.200 --> 00:15:05.240 But if it's relatively close to the same and it's twice as much, 178 00:15:05.320 --> 00:15:07.600 the average person is not going to is not going to buy it, and 179 00:15:07.600 --> 00:15:15.559 that's going to create create that kind of check and balance on on the overall, 180 00:15:15.840 --> 00:15:18.559 uh, you know, pricing of things. So but there can certainly 181 00:15:18.600 --> 00:15:24.159 be corporate greedy people in corporate America. I'm not there going to be greedy 182 00:15:24.159 --> 00:15:28.720 people in all assmen and nonprofit America. By the way, we talk as 183 00:15:28.720 --> 00:15:33.080 though nonprofit is the holy side of the economy. I always find myself asking 184 00:15:33.120 --> 00:15:37.679 who do you think funds the nonprofit world? It's those greedy capitalists, right, 185 00:15:37.759 --> 00:15:39.840 I mean, that's how that that's how that works. But anyway, 186 00:15:41.639 --> 00:15:46.240 I want to play play Milton Friedman here in just a minute. But ironically 187 00:15:46.279 --> 00:15:50.679 I want to tell you about before I do that, our friends at Harvard 188 00:15:50.679 --> 00:15:54.799 Gold Group and I didn't plan this, but as I think about it, 189 00:15:54.039 --> 00:15:58.639 as we talk about inflation, as we think about gold, as we think 190 00:15:58.639 --> 00:16:04.559 about the economy, how gold is often viewed as a hedge against inflation. 191 00:16:06.240 --> 00:16:11.120 There's sometimes gold now is at a high high price, at or near an 192 00:16:11.159 --> 00:16:15.200 all time high, and there can be a myriad of reasons for that, 193 00:16:15.279 --> 00:16:22.159 but one of those is that when the currency is inflated, then oftentimes that 194 00:16:22.200 --> 00:16:26.120 can cause the price of more people to go into move into gold to try 195 00:16:26.120 --> 00:16:30.519 to hold the value of their currency better. I mean, there's a whole 196 00:16:30.519 --> 00:16:37.000 bunch of factors here, but gold has outperformed the S and P five hundred 197 00:16:37.039 --> 00:16:40.279 and the Dallas since nineteen seventy one. And all the folks who are in 198 00:16:40.440 --> 00:16:45.039 charge of or who support the Fiat paper money system, the money system that's 199 00:16:45.120 --> 00:16:49.480 no longer backed by gold. All of those folks, all of the institutions, 200 00:16:51.120 --> 00:16:56.360 all these government entities, all these countries and central banks, even the 201 00:16:56.399 --> 00:17:00.960 IMF, the International Monetary Fund, they all own some financial amount of gold. 202 00:17:02.080 --> 00:17:06.240 So if they have that, and they're out there pushing and telling us 203 00:17:06.240 --> 00:17:11.160 how great the Fiat paper money system is and they still have gold, then 204 00:17:11.200 --> 00:17:14.720 doesn't make sense for you to have it as well. While my friends go 205 00:17:14.759 --> 00:17:18.559 to Harvard Gooldgroup dot com slash Todd. Go to that side, and you 206 00:17:18.599 --> 00:17:26.160 can actually get a free report on just what it means, what it means 207 00:17:26.200 --> 00:17:33.559 to own gold, understand the thinking behind it, why it's a why it's 208 00:17:33.559 --> 00:17:37.079 something you may want to look in. There's a free report that you can 209 00:17:37.119 --> 00:17:41.680 get at Harvardgoldgroup dot com. And if you decide to move forward with the 210 00:17:41.720 --> 00:17:45.319 purchase with Harvard Gold, you can use my name Todd and save two hundred 211 00:17:45.319 --> 00:17:47.799 and fifty dollars. You'll get a credit of two hundred and fifty dollars Harvard 212 00:17:47.799 --> 00:17:55.119 Gooldgroup dot com promo code Todd. So let's listen to this SoundBite from Milton 213 00:17:55.119 --> 00:17:59.799 Friedman. He's gonna tell us the cause one percent of the time of inflation, 214 00:18:00.000 --> 00:18:06.519 and it's not the consumer. It's not greedy corporate America. It's not 215 00:18:07.160 --> 00:18:10.920 trade unions, it's not state governments. No, no, no, it's 216 00:18:10.960 --> 00:18:18.799 none of those things. It is one of the time our federal our federal 217 00:18:18.839 --> 00:18:22.799 government. Listen to what he says, inflation is made in Washington because only 218 00:18:22.920 --> 00:18:30.400 Washington can create money, and any other attribution to other groups of inflation is 219 00:18:30.680 --> 00:18:40.079 wrong. Consumers don't produce it. Producers don't produce it. The trade unions 220 00:18:40.079 --> 00:18:45.319 don't produce it, foreign sheeks don't produce it. Oil imports don't produce it. 221 00:18:45.880 --> 00:18:49.880 What produces it? It's too much government spending and too much government creation 222 00:18:49.960 --> 00:18:55.400 of money and nothing else. There you go. What creates it is too 223 00:18:55.440 --> 00:19:00.480 much government spending and too much creation of money and nothing else. This problem 224 00:19:00.519 --> 00:19:07.759 is exclusively a Washington, DC problem, no matter how many times, no 225 00:19:07.799 --> 00:19:14.519 matter how much people like Joe Biden or your favorite Republican in Congress or whatever, 226 00:19:14.599 --> 00:19:18.119 how much they point at somebody else, at greedy corporate America, at 227 00:19:18.200 --> 00:19:22.039 the consumer for doing something they shouldn't have done, at anybody else, at 228 00:19:22.079 --> 00:19:26.519 the unions, at state governments. No, no, no, that is 229 00:19:26.599 --> 00:19:32.640 not the cause of inflation. It is one hundred percent, one hundred percent 230 00:19:32.759 --> 00:19:38.119 the responsibility or the I guess I should say the consequence of our federal government 231 00:19:38.640 --> 00:19:45.319 spending too much money and then creating too much money supply one hundred percent and 232 00:19:45.440 --> 00:19:48.880 headline here. I referenced this in a previous hour national polls. This is 233 00:19:48.920 --> 00:19:55.440 reported at CNN as well. FED report. Corporate greed is not fueling inflation, 234 00:19:55.640 --> 00:20:00.319 as Biden claims. Despite the Biden government's claims that, to the contrary, 235 00:20:00.400 --> 00:20:07.799 corporate price gouging has not been driving rises in US inflation. According to 236 00:20:07.920 --> 00:20:12.119 research published by the Federal Reserve Bank of San Francisco, San Francisco, of 237 00:20:12.119 --> 00:20:18.799 all places on Monday, the Biden regime has attempted to blame inflation on corporate 238 00:20:18.359 --> 00:20:29.160 corporate America by deploying terms like greedflation and shrinkflation. Now, although markups, 239 00:20:29.160 --> 00:20:32.480 the article says here, were observed in twenty twenty one and twenty twenty two 240 00:20:32.480 --> 00:20:37.240 for vehicles and petroleum products, markups across all US goods and services have been 241 00:20:37.359 --> 00:20:42.680 relatively flat post pandemic. As such, rising markups have not been a main 242 00:20:42.759 --> 00:20:49.240 driver of of the recent surge and subsequent decline in inflation during the current recovery, 243 00:20:49.400 --> 00:20:56.720 wrote bank researchers. Data for the current recovery show that the increase in 244 00:20:56.799 --> 00:21:03.240 corporate profits is not particularly pronounced compared with previous recoveries. They wrote, again, 245 00:21:03.279 --> 00:21:08.319 this is the FED itself. Markups also have not played much of a 246 00:21:08.400 --> 00:21:15.079 role in the slowing of inflation since the summer of twenty twenty two. So 247 00:21:15.400 --> 00:21:19.599 a couple of things that play here. Number one, and I've mentioned this 248 00:21:19.680 --> 00:21:25.480 on this program before there is an attempt there is an attempt to I would 249 00:21:25.559 --> 00:21:29.559 say, I would say, in general, dumbed down the American voter, 250 00:21:29.720 --> 00:21:34.799 because the more that we are confused by the games and shenanigans that they're playing, 251 00:21:34.839 --> 00:21:40.400 the less desire we will have to hold these jokers and clowns accountable. 252 00:21:41.359 --> 00:21:45.000 But the reality is, the reality is is that they are playing a game 253 00:21:45.039 --> 00:21:49.000 with us, not every time. There can be many reasons. Let's say 254 00:21:49.039 --> 00:21:56.240 this way. There are many reasons why something can increase in price. Let's 255 00:21:56.240 --> 00:22:00.720 say the gasoline prices. That's that's a great example. Gasoline prices can go 256 00:22:00.880 --> 00:22:07.000 up and down for a lot of factors. For example, how easy it 257 00:22:07.039 --> 00:22:11.960 is to bring it to market, what the refining standards might be for a 258 00:22:11.000 --> 00:22:15.319 certain time of a year. What taxes are here in my state, taxes 259 00:22:15.799 --> 00:22:21.920 fluctual. Well, taxes are based upon the previous month's average gasoline price, 260 00:22:21.960 --> 00:22:25.799 and so if it was a high monthy, the taxes may skyrocket. So 261 00:22:25.839 --> 00:22:27.799 there's a myriad of factors. There's more, and I'll reset this up when 262 00:22:27.799 --> 00:22:30.839 we get back from the break, But I gotta take that break. Got 263 00:22:30.880 --> 00:22:33.839 to take a break talking about inflation, because they're going to tell you it's 264 00:22:33.880 --> 00:22:37.079 coming down. It's not. I'm going to look at the historical numbers. 265 00:22:37.119 --> 00:22:41.759 And they're also telling us, well, they're confusing us, or trying to 266 00:22:41.759 --> 00:22:45.319 confuse us on what inflation really is, trying to blame anyone but the federal 267 00:22:45.359 --> 00:22:49.119 government. The federal government is one hundred percent. Do not doubt this, 268 00:22:49.240 --> 00:22:56.960 one hundred percent absolutely responsible for inflation. Nobody else put themselves to look in 269 00:22:56.000 --> 00:23:00.000 the mirror. Quick time out, my friends. Back in just a minute. 270 00:23:04.200 --> 00:23:07.599 Come back to my friends. We're talking about inflation. And the reason 271 00:23:07.640 --> 00:23:12.480 we're talking about inflation is because the Biden administration has been telling us for a 272 00:23:12.519 --> 00:23:18.480 long time that the and the left left in general has been blaming corporations, 273 00:23:18.599 --> 00:23:23.359 greedflation, shrink inflation, all of these things that they are using as terms 274 00:23:23.359 --> 00:23:29.559 to try to catch on with the American people to blame someone else. Besides, 275 00:23:29.599 --> 00:23:34.920 they're absolutely ridiculous and despicable economic policies and ideas. They want to blame 276 00:23:34.960 --> 00:23:40.440 somebody else. They want to blame corporate America, They want to blame anybody 277 00:23:40.559 --> 00:23:47.839 that they can other than take the responsibility. But that's simply not what causes 278 00:23:47.880 --> 00:23:52.400 inflation. I understand that there are Keynesian economists out there who live in a 279 00:23:52.559 --> 00:23:56.079 fantasy world, who believe that well, first of all, the government can 280 00:23:56.119 --> 00:24:00.880 do no wrong. That's kind of the starting premise of Knesy economics. But 281 00:24:00.960 --> 00:24:06.599 secondly, secondly that there are other explanations for this. But Milton Friedman is 282 00:24:06.640 --> 00:24:11.079 absolutely right, and I played that clip last segment. Milton Friedman is absolutely 283 00:24:11.160 --> 00:24:15.599 right. What causes inflation is government spending and then the government creating too much 284 00:24:15.640 --> 00:24:18.880 money. That's what they do. They do it to subtly steal from you. 285 00:24:19.160 --> 00:24:22.680 They don't want to raise your tax rates. They get tired of having 286 00:24:22.720 --> 00:24:29.519 to deal with complaining, and they don't want to be held responsible for directly 287 00:24:29.640 --> 00:24:33.559 raising your taxes in an election year because they don't want to be held accountable. 288 00:24:33.640 --> 00:24:37.079 But instead, what they'll do is create a situation. And I don't 289 00:24:37.079 --> 00:24:41.279 know how many of them even know this, to be quite honest. I 290 00:24:41.319 --> 00:24:44.920 mean, they simply are trying to buy votes. And in the process of 291 00:24:44.960 --> 00:24:48.200 trying to buy votes by spending massive amounts of money to the federal the federal 292 00:24:48.240 --> 00:24:52.759 government, but eventually running out of people to take that money from to pay 293 00:24:52.799 --> 00:24:56.720 for things, they end up creating too much currency. That's what happens, 294 00:24:56.759 --> 00:24:59.880 Milton Friedman has hit the nail on the head. That is one hundred percent 295 00:25:00.559 --> 00:25:03.480 the explanation of this, and I'll talk more about this in a minute. 296 00:25:03.480 --> 00:25:07.759 But my friends, if you are currently using tobacco products, smoking, faping, 297 00:25:07.440 --> 00:25:12.240 if you are chewing tobacco, let me tell you about Nicknack Naturals. 298 00:25:12.279 --> 00:25:18.680 They are here to help you crush your vice. They've created a mint that 299 00:25:19.160 --> 00:25:26.000 is discreete it is odorless, it is tiny, It fully dissolves in your 300 00:25:26.039 --> 00:25:29.200 mouth, so you don't have to deal with the messiness of smoking, of 301 00:25:29.240 --> 00:25:33.640 spitting, of the slimy pounches of the bad breath. 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Also, if you're under twenty one, you also are 311 00:26:11.880 --> 00:26:17.880 not eligible to be purchasing this product. But if you're using nicotine and if 312 00:26:17.880 --> 00:26:22.680 you're twenty one years of age or older, check out a naturally better alternative 313 00:26:22.720 --> 00:26:27.599 at nicknack dot com. Use promo code todd You'll save fifteen percent during check 314 00:26:27.640 --> 00:26:37.839 out. So this fine over inflation, they've blamed the administration is blamed corporations. 315 00:26:37.839 --> 00:26:41.000 Now, I'm not here to defend corporations, that's not at all my 316 00:26:41.319 --> 00:26:45.160 intent. But I am here to tell you. I am here to tell 317 00:26:45.160 --> 00:26:52.559 you that it is erroneous and dangerous to blame inflation on corporations every time that 318 00:26:53.319 --> 00:26:59.759 prices increase. I started to talk about this before the break. Just because 319 00:27:00.160 --> 00:27:03.839 price increases does not mean it's inflation. We have we have allowed them to 320 00:27:06.039 --> 00:27:10.720 kind of do a bait and switch on us with this. Inflation is referring 321 00:27:10.839 --> 00:27:17.279 specifically to the price is increasing because of a particular reason, and that reason 322 00:27:17.920 --> 00:27:22.799 is that there's too much money in the that's been created by the government. 323 00:27:22.119 --> 00:27:26.119 And the reason they created too much money was because they spent too much money, 324 00:27:26.160 --> 00:27:30.200 and so they have to come up with it somewhere, and so they 325 00:27:30.279 --> 00:27:36.440 just basically produce it out of thin air, and they produce too much of 326 00:27:36.440 --> 00:27:41.400 it because there was not a corresponding real value created in the economy that would 327 00:27:41.880 --> 00:27:45.960 justify the creation of the of the currency, and so that's what causes it. 328 00:27:47.000 --> 00:27:49.079 So by definition, corporations are not responsible for this. That doesn't mean 329 00:27:49.079 --> 00:27:55.559 corporations can't be bad corporation. These things can both be can both be true. 330 00:27:55.599 --> 00:27:59.720 Corporations can be cutting the size of the products that they're selling on the 331 00:27:59.720 --> 00:28:03.680 shelf, trying to deceive you, trying hoping you don't notice that you're getting 332 00:28:03.720 --> 00:28:10.400 a smaller amount of chips or laundry detergent or whatever they're hoping to deceive you 333 00:28:10.480 --> 00:28:14.359 on that so that you are paying the same price but getting a little bit 334 00:28:14.440 --> 00:28:18.519 less, or maybe paying slightly more but also getting slightly less at the same 335 00:28:18.519 --> 00:28:22.359 time. That doesn't mean that that's not also happening, but that is not 336 00:28:22.559 --> 00:28:26.519 inflation. That is something altogether different that is trying to fool the consumer. 337 00:28:27.000 --> 00:28:32.480 In the case of gasoline prices, there can be a bunch of reasons why 338 00:28:32.559 --> 00:28:37.000 the costs that the price of gasoline at the pump can increase. If we 339 00:28:37.000 --> 00:28:41.119 were God forbid to go to war in the Middle East, and it appeared 340 00:28:41.160 --> 00:28:45.039 that supply chains getting oil from the Middle East to the United States, if 341 00:28:45.079 --> 00:28:48.119 it looked as though that was going to be a problem, then there's a 342 00:28:48.160 --> 00:28:52.799 good reason or a good chance that gas prices would would shoot up if there 343 00:28:52.920 --> 00:28:57.759 was a problem with a particular refinery in the United States. There's a good 344 00:28:57.880 --> 00:29:03.200 chance that prices would shoot up if there was which all these things are basically 345 00:29:03.319 --> 00:29:08.119 just a decrease in supply if the supply was to be disrupted, not for 346 00:29:08.240 --> 00:29:14.519 reasons of inflation, but because of who knows. I mean, maybe the 347 00:29:14.559 --> 00:29:19.799 Iranians and the Huthis and all of the Iranian proxy groups decided to prevent oil 348 00:29:19.880 --> 00:29:26.119 rigs from leaving the area. That could of course directly impact the cost of 349 00:29:26.160 --> 00:29:30.640 gasoline at the pump, having nothing to do with inflation, that's not inflation. 350 00:29:30.839 --> 00:29:33.240 That's an increase of the cost of gas, but it may have nothing 351 00:29:33.279 --> 00:29:37.079 to do with inflation. Inflation is a very specific thing, and that is 352 00:29:37.119 --> 00:29:42.559 what is important to understand here. Inflation is a specific thing, and it 353 00:29:42.599 --> 00:29:49.400 is one hundred percent the responsibility of the federal government. It's not because of 354 00:29:49.960 --> 00:29:55.839 consumers engaging in behaviors that are not helpful for the economy at large. Consumers 355 00:29:55.880 --> 00:30:00.799 can certainly play games as as well. I mean, individual people can make 356 00:30:00.400 --> 00:30:08.039 decisions. I mean, can can do things that maybe maybe are illegal in 357 00:30:08.119 --> 00:30:15.359 some cases maybe you know that they can, or maybe just do things that 358 00:30:15.920 --> 00:30:18.960 people generally frown upon. You know, they if they were to buy and 359 00:30:19.079 --> 00:30:23.000 to ward a bunch of stuff. Remember this happened with with toilet paper back 360 00:30:23.079 --> 00:30:27.160 during COVID. Individual consumers were afraid they weren't going to have toilet paper. 361 00:30:27.319 --> 00:30:30.599 I don't know why it was that particular product in general, but that's the 362 00:30:30.680 --> 00:30:34.720 one of the ones that it was, And so people were buying toilet paper 363 00:30:34.759 --> 00:30:40.440 every chance they got, taking it off of shelves left and right, and 364 00:30:40.440 --> 00:30:44.640 that of course led to almost a black market for toilet paper. I think 365 00:30:44.680 --> 00:30:48.480 there was from what I remember, I think you could go online or go 366 00:30:48.559 --> 00:30:55.599 to Facebook, people were selling selling toilet paper at massive markups. While that 367 00:30:55.640 --> 00:30:59.359 would be you know, you might say that's questionable or whatever. You may 368 00:30:59.359 --> 00:31:00.559 not like that. I'm not even here to get into that. But that's 369 00:31:00.559 --> 00:31:07.000 not inflation. That's something else. That's something else that's going on altogether. 370 00:31:07.359 --> 00:31:14.119 Inflation is something very specific. Inflation is government spending too much money and then 371 00:31:14.440 --> 00:31:18.799 creating too much money in return to cover the cost of their ridiculous expenses, 372 00:31:18.839 --> 00:31:22.640 and so they're lying to us. Biden was always lying when he said that 373 00:31:22.720 --> 00:31:29.359 corporate greed was what was fueling inflation. Corporate greed cannot create that. Corporate 374 00:31:29.359 --> 00:31:33.160 greed can increase pricing. But according to the owner, the government's own important 375 00:31:33.359 --> 00:31:38.759 the FED report here, there is apparently little to no evidence to show that 376 00:31:38.839 --> 00:31:44.960 that's actually what is happening. What is driving inflation is an out of control 377 00:31:45.079 --> 00:31:52.039 government that's being run today by the Democrat Party and Rhino Republicans, and an 378 00:31:52.079 --> 00:31:59.559 administration candidly that has a that's impacted a lot by the radical left. That's 379 00:31:59.599 --> 00:32:06.839 what inflation, my friends. Anyway, this is a good segue to to 380 00:32:06.960 --> 00:32:10.920 tell you about my friends at my USA shop club dot com, My USA 381 00:32:12.000 --> 00:32:15.200 shop club dot com again, my USA shop club dot com. If you 382 00:32:15.480 --> 00:32:21.440 are tired of some of these games at corporations still play. Even though even 383 00:32:21.480 --> 00:32:24.160 though the report says corporate inflation, our corporate greed is not fueling inflation, 384 00:32:24.240 --> 00:32:29.119 which it can't. They still can play games, They still can play games 385 00:32:29.240 --> 00:32:32.000 with you, pretending to what Biden would call shrink flation. I'm not doubting 386 00:32:32.079 --> 00:32:36.759 that, you know, selling you a product that's looks like it was the 387 00:32:36.839 --> 00:32:38.519 same size as it was before, but it's not or any of these other 388 00:32:38.680 --> 00:32:43.799 sorts of games that they play. And even if they don't play the games, 389 00:32:44.039 --> 00:32:46.720 even if they are, you know, haven't changed their sizes and haven't 390 00:32:46.839 --> 00:32:51.599 you know, changed their prices dramatically or whatever. They've just tried to survive 391 00:32:51.799 --> 00:32:57.279 this hellish economy created by Biden. These big corporations are almost certainly still sending 392 00:32:57.319 --> 00:33:00.279 money to get Biden and the folks that are at actually the problem causing this 393 00:33:00.440 --> 00:33:05.559 mess to begin with. These are the same folks when you buy from these 394 00:33:05.599 --> 00:33:08.960 big corporations that are being reelected with the dollars of these corporations. So why 395 00:33:09.640 --> 00:33:15.200 continue funneling money to these folks? Why buy from these folks when there are 396 00:33:15.279 --> 00:33:20.240 other alternatives here like my USA shop club dot com. You can get over 397 00:33:20.319 --> 00:33:24.640 four hundred and fifty non toxic household and personal care products at my USA shop 398 00:33:24.720 --> 00:33:30.720 club dot com. You can also get. These are household and personal care 399 00:33:30.799 --> 00:33:36.400 products, but also products that help provide immune support. This is an American 400 00:33:36.480 --> 00:33:43.759 based company. They believe in health and patriotism. We buy products from my 401 00:33:44.160 --> 00:33:47.079 USA shop club dot com and I think you should consider it as well, 402 00:33:47.160 --> 00:33:52.519 my USA shop club dot com. That's my USA shop club dot com. 403 00:33:52.799 --> 00:33:55.519 Quick timeout is in order, my friends, sit tight. You're listening here 404 00:33:55.559 --> 00:33:59.440 to conservative not better talk. I am your host, Todd huff back in 405 00:33:59.480 --> 00:34:20.880 a minute back to my friends. So totally coincidentally, I was actually when 406 00:34:20.920 --> 00:34:27.000 I saw that article where the FED said that corporate greed was not what was 407 00:34:27.039 --> 00:34:31.519 fueling inflation. Biden was factually wrong. Biden was lying to us when he 408 00:34:31.559 --> 00:34:37.199 said that what's responsible, who's responsible for this is the federal government solely, 409 00:34:38.480 --> 00:34:45.320 including Joseph Robinette Bribery. They are the ones who are responsible for this. 410 00:34:45.440 --> 00:34:49.679 But as I was preparing to talk about that, it reminded me of Milton 411 00:34:49.719 --> 00:34:53.760 Friedman. I looked up I found that that that SoundBite that I played earlier 412 00:34:53.800 --> 00:35:01.400 for Milton Friedman. But as a kind of a I guess a coincidence I 413 00:35:01.599 --> 00:35:08.400 saw on the Bongina Reports this story the twenty five best quotes from legendary economist 414 00:35:08.480 --> 00:35:15.239 Milton Friedman, written by a gentleman named John Hawkins, who had interviewed Milton 415 00:35:15.280 --> 00:35:20.679 Friedman back before he passed away. He interviewed him in September of two thousand 416 00:35:20.719 --> 00:35:25.480 and three, and so he's got the twenty five best quotes that he could 417 00:35:25.559 --> 00:35:32.960 find from Milton Friedman. And I've got a few minutes here, so let's 418 00:35:34.039 --> 00:35:37.719 look here. Let's look here at the top five. I'm tempted to say 419 00:35:37.760 --> 00:35:39.079 the top ten, but I know I'm going to have things to say about 420 00:35:39.119 --> 00:35:44.320 this number five. When everybody owns something, nobody owns it. Oh, 421 00:35:44.480 --> 00:35:47.440 I love this, by the way, And nobody has a direct interest in 422 00:35:47.599 --> 00:35:52.880 maintaining or improving its condition. That is why buildings in the Soviet Union, 423 00:35:53.440 --> 00:35:59.719 like public housing in the United States look decrepit within a year or two of 424 00:35:59.760 --> 00:36:04.559 their construction. When everybody owns something, nobody owns it. And so when 425 00:36:04.599 --> 00:36:12.000 nobody owns it, then there's no personal responsibility. And that is a absolutely, 426 00:36:12.800 --> 00:36:20.000 an absolutely fantastic quote. That's spot on, that's spot on correct. 427 00:36:20.039 --> 00:36:22.199 There's so many things can can spin off from that, by the way, 428 00:36:22.719 --> 00:36:29.800 great quote, spot on, and it's a fundamental truth, fundamental truth, 429 00:36:29.840 --> 00:36:36.199 and it's why. It's why the private ownership of property actually is a very 430 00:36:36.239 --> 00:36:40.280 good thing. One of the many reasons why number four. Nobody spends This 431 00:36:40.480 --> 00:36:45.119 is absolutely true. You see this happening every day. Nobody spends someone else's 432 00:36:45.199 --> 00:36:52.360 money as carefully as he spends his own. Nobody else uses somebody else's resources 433 00:36:52.360 --> 00:36:57.599 as carefully as he uses his own. So if you want efficiency and effectiveness, 434 00:36:57.679 --> 00:37:00.840 if you want knowledge to be proper really utilized, you have to do 435 00:37:00.960 --> 00:37:07.639 it through the means of private property. When it's yours, when it belongs 436 00:37:07.719 --> 00:37:14.800 to you, when you're in charge of it, when when it impacts you 437 00:37:14.920 --> 00:37:16.360 know whether or not you're going to have more or less. When there's a 438 00:37:16.480 --> 00:37:24.800 direct link to you, you're going to manage it. You're going to manage 439 00:37:24.800 --> 00:37:30.480 it better. Nobody spends someone else's money as carefully as he spends his own. 440 00:37:30.519 --> 00:37:34.920 That's what happens in our government. That's why we spend money on stupid, 441 00:37:35.400 --> 00:37:39.159 stupid stuff on a regular basis. Number three again, going through quotes 442 00:37:39.239 --> 00:37:47.280 here the twenty five best quotes from Milton Friedman, according to writer John Hawkins. 443 00:37:47.320 --> 00:37:52.239 Here, if you put the federal government in charge of the Sahara Desert 444 00:37:52.440 --> 00:37:57.679 in five years, there'd be a shortage of SAand you know, I mean, 445 00:37:57.840 --> 00:38:01.960 it's it's true. They they want to manage and control everything. They 446 00:38:02.039 --> 00:38:06.840 think that there's a committee, they think that there's a Blue ribbon commission. 447 00:38:07.119 --> 00:38:12.719 They think that there's somebody there who's smart enough to just be able to manage 448 00:38:12.760 --> 00:38:17.800 the totality of everything. When in reality, when in reality, if individuals 449 00:38:19.079 --> 00:38:25.800 are responsible for just have personal stake in say the Sahara Desert in his analogy 450 00:38:25.880 --> 00:38:31.880 here, it's so much more profitable, so many more good things will come 451 00:38:31.920 --> 00:38:37.559 out of it than government management. It would be mismanaged to the point there 452 00:38:37.559 --> 00:38:43.719 would be a lack of sand in five years, says says Milton Friedman Number 453 00:38:43.760 --> 00:38:46.880 two. I do not believe. He says that the solution to our problem 454 00:38:47.000 --> 00:38:50.519 is simply, this is interesting, by the way, is simply to elect 455 00:38:50.559 --> 00:38:54.079 the right people. The important thing is to establish a political climate of opinion 456 00:38:54.199 --> 00:38:59.679 which will make it politically profitable for the wrong people to do the right thing. 457 00:39:00.079 --> 00:39:02.119 That's powerful. Let me say that again. The important thing is to 458 00:39:02.280 --> 00:39:08.199 establish a political climate of opinion which will make it politically profitable for the wrong 459 00:39:08.360 --> 00:39:13.440 people to do the right thing unless it is politically profitable for the wrong people 460 00:39:13.480 --> 00:39:16.119 to do the right thing. The right people will not do the right thing 461 00:39:16.199 --> 00:39:21.679 either, or if they try, they will shortly be out of office. 462 00:39:21.840 --> 00:39:27.440 Oh my goodness, is that not what's happening in this country today. Politically 463 00:39:27.559 --> 00:39:30.719 profitable to do the right thing, even if you're the wrong person versus you're 464 00:39:30.760 --> 00:39:36.079 the right person, it's profitable to do the wrong thing. Many people fall 465 00:39:36.760 --> 00:39:39.400 into that temptation. How many times have we seen that people going to Washington, 466 00:39:39.480 --> 00:39:45.039 d c. With the right intentions only to be tempted maybe the right 467 00:39:45.159 --> 00:39:49.440 person, we think, only to be tempted to do the wrong thing because 468 00:39:49.480 --> 00:39:55.119 it profits them to sell their soul. Basically, and number one, inflation 469 00:39:55.480 --> 00:40:00.559 here it is. This is what we've been talking about today. Inflation is 470 00:40:00.000 --> 00:40:07.880 always and everywhere a monetary phenomenon. Now, the larger context of this is 471 00:40:07.960 --> 00:40:14.960 that it's the government that creates it. It's not businesses, it's not trade 472 00:40:15.039 --> 00:40:22.840 unions, it's not the consumer. It's not greedflation, it's not shrink flation. 473 00:40:22.000 --> 00:40:25.920 That's not defending any of these things. It's simply saying that the cause 474 00:40:25.960 --> 00:40:32.480 of inflation is always That is a definitive term to mean, in every instance 475 00:40:32.599 --> 00:40:36.719 and everywhere that's to me. No matter where you are on planet Earth, 476 00:40:36.800 --> 00:40:42.159 in the United States, in Saudi Arabia and Argentina and Iceland, wherever, 477 00:40:42.320 --> 00:40:45.920 it's always a monetary phenomenon caused by the government itself. I gotta go, 478 00:40:46.079 --> 00:40:47.559 my friends, have a great day. Stg.