This is a rushed transcript of The Trish Regan Show, September 22, 2021 and may be updated. Click to download and listen to the audio or watch the video clip below.
Are you embarrassed yet? I mean, I am.
I’m pretty embarrassed at the representation of our country on a global scale.
I’m also pretty darn upset and concerned about our future. When you look at what’s happening right now on the border down in Del Rio, Texas. And that monstrosity of a situation that no one in the administration can quite get their head around.
And then, you combine that with that UN ‘performance’ by the president, who clearly still is struggling to put one word in front of the other at times — and had a message that I guess boiled down to ‘I’m not Trump.’
I’m sorry. You know what? The whole ‘I’m not him’ — that’s not going to get you very far anymore because you’re now the president! Right? Mr. Biden, President Biden.
So now you’ve got a pretty big job to do and it’s not okay to sit there and blame others when you screw up in Afghanistan, or when you screw up at the border, or when you screw up with the economy…This is all on Joe Biden.
And for him to try and wiggle out of it by just saying, “well, you know, I’m not Trump,” I’m sorry, it’s not going to fly. And by the way, that UN speech was, yes…embarrassing, but also, I think sent a very mixed message.
For one, the globalists are back in town right there in charge. ‘We want to work with China. We want to work with everyone.’ Except you don’t really you don’t really. Because, look, France is pulling its ambassador. And for goodness sakes, you just deserted a country that you helped for 20 years, so how do you sit there and have it both ways? I mean, you can’t.
What this tells you is that the elites are going to get what the elites want and everybody else be damned. I mean, that’s that’s just part of the problem I talked yesterday about the whole AOC tax-the-rich dress, right? Which isn’t it rich, because it turns out that the designer that made the tax, the rich dress, (who’s dating a billionaire from the Seagram fortune) apparently, according to The New York Post and the New York State Department of Taxation and Finance, has not been paying her employee payroll taxes, nor according to the IRS. She reportedly owes roughly one hundred and three thousand dollars in back taxes?
So, when I when I get frustrated about this stuff, it’s with reason. Because whether it’s AOC or Ilhan Omar or Cory Bush or Bernie Sanders, somehow they do just fine –and their friends do just fine. But it’s the middle class that winds up paying the price.
Speaking of Ilhan Omar, this is an interesting story: she went on MSNBC on Joy oh, what is her name? Reed’s Show. Yes, that controversial person who talks out of both sides of her mouth and had said some really, frankly, homophobic, disgusting things and really not in keeping with somebody clearly who’s on MSNBC. Let’s just leave it at that.
So, she’s got Ilhan Omar, the Democrat from Minnesota, on her show, saying the US is obviously, quote, “obviously racist” — for it’s systemic racism — that we’re confronting right now, keeping the refugees from Haiti, from entering the country immediately, you know, 10, 15 thousand of them. This woman believes is because of systemic racism? I mean, wow.
I love how systemic racism is to blame for everything. Let’s just let’s take this logic a step further, OK? Because if really systemic racism is to blame for anybody not having the same ‘whatever’ in life — The same status or success or bank account or whatever, I mean, they blame systemic racism for any perceived inequality. Well then, the fact that Omar’s not President, is that systemic racism? The fact that she’s not yet a senator. Is that systemic racism? Oh, and by the way, the fact that they’re requiring mandating vaccines at corporations and they tried in New York to say, ‘OK, we’re mandating you can’t even go to a grocery store or into a drugstore, into a restaurant or into a gym if you don’t have a vaccine card.’ Well, wouldn’t that be systemic racism? Because the people that are actually losing out in that case are predominantly in a place like New York City, African-American.
If you look at the statistics and Newsweek did an interesting report on this where they showed that the majority of people that actually weren’t vaccinated in some of these urban areas were African-American. And the second highest rated group of people that were not vaccinated happen to be Hispanic. So I’m just trying to follow their logic, if we really are to assume that systemic racism is to blame for all economic inequality. Then therefore, you would think you couldn’t mandate all these vaccine requirements, because that would be systemic racism. I mean, I’m just trying to follow their logic, not that I agree with any of it anyway, she told Joy Reid.
When it comes to our immigration policy…for so many years, “cruelty has been very much embedded in it.” Yeah, I guess it was really cruel of us as a nation to let her and her family in anyway. “There is an obviously systemic racism at play here,” she says. We’ve seen people come to the border in the fact that we’re dealing with mainly black migrants and black immigrants and asylum seekers at the border in this way kind of speaks to the kind of racism, systemic racism that is embedded in that department and all the departments that deal with our immigration policy.
She mentioned, of course, that Haiti is a poor nation. It’s all America’s fault. Everything is your fault, everything is my fault, except for the fact that, you know what, all this systemic racism that they’re talking about and slavery, a lot of Americans weren’t even here! Their families weren’t even here when all that happened. I mean, it’s just a convenient excuse. And I got to say, it’s really kind of tragic because I thought our country was getting to the point of being less interested in race. For goodness sakes, we’ve had an African-American president. We now have a black American, African-American female vice president. I would like to say that, you know what? We’ve kind of turned the corner on a lot of this, or at least we had. We had turned a corner until they made it a political issue. And when I say they I mean all of Washington, D.C., I mean both sides, I mean everybody sort of in on this and they keep making this an issue.
She’s out there blaming everybody else because we won’t take all the Haitians into the country? I mean, what do they think this is? It’s like some kind of free-for-all? America’s supposed to be the the welfare nation that just takes everyone? No, it’s not possible.
It’s not actually economically feasible or possible.
And we need to actually think about what’s best for our people and for our country. I mean, that’s the logical thing to do. Yet there’s not a lot logic, it seems, from these Democrats in Washington, D.C.. I mean, we’ve been talking about the international aspect to all this and. The kind of…how shall I say, the attempt at trying to make nice with China.
China, by the way, who’s going through all kinds of stuff right now, you’re seeing they’re experiencing their kind of Lehman moment. I talked about this on yesterday’s podcast. I do not believe it’s going to be any kind of systemic contagion issue only because it’s it’s not a company whose debt is widely held around the world, including by US banks or European banks. So I believe that that should be mostly contained. Any problems that they have in the Chinese government allegedly saying we’re not going to help? OK, that is kind of Lehman like right now. So any kind of spillover effect should theoretically be contained to Asia, primarily China. Now, there is a possibility that any company that trades aggressively with China may feel the effect of that. But keep in mind, quater where trade imbalances work, we’re the ones that are importing most of the stuff from China, right. We’re the ones getting the cheap goods from China. They’re not buying as much from us. So, again, we’re somewhat insulated and we should be hopefully insulated even more.
I mean, if they start to go downhill, I think we need to again start thinking about ourselves first. They are a big trade partner, but maybe we need to maybe we need to kind of move move that a little bit of side. We’ve talked about TPP 2.0 and there’s a chance that maybe that should come about right now as we the Western world, the free world starts to think about how can we work together and really let China kind of do its own thing.
The Fed, of course, meeting today. And we can talk about that a little bit more tomorrow. I’ve said all along, you know, regardless of what they say, here’s what you need to remember; The Federal Reserve wants the United States economy to work.
They want the markets to be moving higher. So it’s not as though the Federal Reserve is going to say, ‘OK, we’re going to just pull the rug out from under tomorrow.’ They’re going to do everything they can to really take this entire tapering process in lock step and communication with the market. So nobody’s caught off guard. And I’m not saying that’s the best way. In fact, I in many ways don’t believe the Federal Reserve should be involved at all because they typically have a tendency to create other kinds of bubbles and other kinds of problems. But right now, the financial engineering is sort of working for them. And I really don’t think, especially with Janet Yellen there as treasury secretary, they’re about to pull the rug out from under.
So just remember that as you invest, I realize it really gets kind of hysterical and everybody worries about China and this evergreen thing and everybody’s worried about the Federal Reserve and everybody’s worried about upcoming earnings.
I mean, there’s a lot of things, frankly, to worry about. Certainly, the debt ceiling is another one, but I don’t think we’re going to become the you know, I don’t think Joe Biden is going to become the first president to default on US debt. I really don’t see that one happening. I don’t think that Jerome Powell’s going to just suddenly reverse course and make it really difficult for interest rates to stay low. I don’t think that China is going to have a disastrous outcome. I do think that the governments there, much like our Fed, is right for a little bit of a reason and they will do what they can to help when push comes to shove. And so for this reason, I think it’s important to take a deep breath and to go into the month of October, which can be kind of scary for some people.
Don’t forget, some of the big crashes have happened in October and just say, OK, here’s where we are. And look, if you have that time horizon to be in the markets for a while, you want to be in still. I mean, I really don’t see and I’ll tell you, because I tend to feel these things often earlier than some people do. But I watch. I watch, of course, the Treasury market. And right now we’re not seeing a big enough spike in the yields on Treasury to really cause that much concern.
So I still like the markets even at these valuations. And I’m a believer in putting money in every single time it goes down. So Monday, for example, what did I do? I put money in. I was telling everybody I wrote an article Trish Intel dot com. Do check that out on Trish Intel dot com. I wrote an article saying, “look, you want to be in in this kind of environment, the sell-off is overdone.” So that’s my two cents for the day. I think that, you know, you always have to understand your own risks. And so I caution everybody. But I do want you to be getting in when there are opportunities as opposed to at the very, very top.
I encourage you again, go check out the newsletter, TrishIntel dot com. You can sign up.You’ll get this podcast delivered to every single day. Do make sure you subscribe to this channel. Make sure you do that. You give me a light, you give me a rumble, and I’ll see you right back here tomorrow.