Last week John gave a history as to how we arrived at our current state in the economy and with the dollar. Today, John continues that historical account, reviewing what President Trump did to repair our economy and how President Biden has undone all of that, causing us to be dependent on autocracies for oil and giving Russia economic advantages that the world would rather it not have. John points out the world runs on oil, but there are forces – namely the climate alarmists – that have always advocated for getting us off of oil by taxing it, thereby eroding our economy, hurting the poor and middle class, and lining their own pockets. They've slowly enacted their plan over the years, leading us to where we are today.
Despite what some in government, and by extension the media, are telling you, inflation is a problem and it won't go away soon given the path we're on. Here today to discuss is Bruce Yandle (mercatus.org), Distinguished Adjunct Fellow at the Mercatus Center at George Mason University. He predicts when the tipping point will be in our economy if things don't change. Eventually, not only will our debt crush us, but even the interest on the debt will become too much. What does our economy look like? He likens it to Frankenstein's monster – stitched together, unpredictable, and one that may eventually turn on us. He also gives us what he would do if he were in charge of the Federal Reserve.
The Intergovernmental Panel on Climate Change or IPCC has issued a new report and the collective climate alarmists are doing what they always do – forecasting doom unless we do something drastic. John flies solo for today's podcast, looking at not only the latest climate code red but past predictions of planetary doom that have predictably gone unrealized. There is some sound science in the new report, but the media latch on to all of the dire and crazy predictions. John shows the severe cutbacks recommended in the report in order to save the planet. Politics has distorted the science so much so that we cannot even debate the reality of these cutbacks.
You can't tax your way to prosperity, despite the repeated attempts to do so. Joining us today for a tax discussion is Julio Gonzalez (engineeredtaxservices.com), CEO of Engineered Tax Services. He looks at the new proposed Patriot Tax and the tendency for politicians on the Left to always turn to taxing the rich to solve society's problems. But the rich are never soaked, they offshore their money, and the middle class always ends up crumbling under the weight of these policies. No one can ever explain why the Left think the rich will pay, how they'll ever make the math work to fund their programs, and how any of it actually helps the poor. Will reality become so real that we actually get tax reform?
Critical race theory and its toxic message is very much in the news but few people know the real impact that it's having. First up this week is Anna Miller (idahofreedom.org), Education Policy Director at the Idaho Freedom Foundation. She explains exactly what CRT looks like when it's implemented and it's worse than you think. In an Idaho school system, officials have introduced an equity toolkit to promote social justice and label students and teachers as inherently racist. This is the latest in a long line of totalitarian theories that have pushed into schools to indoctrinate children, but parents are beginning to wake up and push back.
Where power and money goes, trouble grows. And nowhere is there more power, money, and trouble than the U.S. government. We welcome back to the program this week Matt Welch (reason.com), Editor-at-Large at Reason Magazine. He focuses on the IRS and their current ploy to go after back accounts of U.S. citizens living abroad, which would include snooping on financial records. This would set a dangerous precedent. Governments could wield an immense amount of power and influence over anyone at any time.
Maybe the primary example of government trouble is the Council on Foreign Relations, which is celebrating their 100th anniversary this year. Rounding out the show this week is Bill Jasper (thenewamerican.com), Senior Editor at The New American magazine. He chronicles the history of influence the CFR has had in the U.S. government, as well as universities, think tanks, and the media. If you look at the major crises over the past century, the CFR has had their hands all over most of them.
Where power and money goes, trouble grows. And nowhere is there more power, money, and trouble than the U.S. government. Back with us today is Matt Welch (reason.com), Editor-at-Large at Reason Magazine. Even though it has never worked, governments still try to tax their way into prosperity. The IRS is now going after back accounts of expats living abroad to counteract what is known as off-shoring one's money. But the offshoring exists because of the IRS's onerous tax practices. Part of this attempted money grab is snooping on financial records – which would set a dangerous precedent. Governments could snoop into your bank account and wield an immense amount of power and influence over anyone at any time.
In his speech before a sparse joint session of Congress, Joe Biden uttered the following unscripted words on climate change, "If we do everything perfectly, it's not going to ultimately matter." Well, if that is the case, why are we spending trillions of dollars in taxpayer money to try and fix it? Joining us today is Steve Milloy, Founder of the climate information website JunkScience.com. He points out that even though apparently their solutions won't matter, they are still pushing forward with them to the point where instead of Covid lockdowns, we will have climate lockdowns. So if it won't work, why do it? The answer just may be about ultimate control over everything.
No matter who eventually emerges the winner of this election, what will the American financial system look like? Or the global economy? On today's podcast, John and Carol dive into the economic arena, covering a variety of topics, including the U.S.'s massive debt load, how other countries are connected financially to the U.S., and the future of currency and global economics. They also surmise what will happen with taxes, businesses, and relations with China should a Biden administration become a reality.