This is a rough transcript of The Trish Regan Show, July 28, 2021 and may be updated.
It’s the Carter years all over again, there’s no other way to describe this. Joe Biden owns this lousy economy and all this inflation and all the division and everything else. It’s really feeling like a miserable time. As it should.
Hello, everyone, welcome to the Trish Regan show. I’m Trish.
Remember that show? ‘Welcome back, Carter.’ I was a little kid when it was on TV, but I remember it seemed like a really awful time. I mean, like, the styles were awful. You think back to the grainy pictures on TV and it just felt like a really miserable period in US history.
And yet here we are again in this kind of deja vu, the IMF coming out, International Monetary Fund, and not that I love any of their predictions, but on this one, they’re they’re quite right, saying that they anticipate worldwide global inflation of at least six percentQ
Believe me, it’s going to be a lot worse than that. We’re already looking at housing prices at an all time high. We are looking at food prices that are skyrocketing with one grocery store CEO, John Catsamatidis, actually, who runs Gristedes… If you’re from New York, you know Gristedes. It’s a big grocery store chain there. Anyway, he says he wouldn’t be surprised to see 11 to 14 percent of an increase in prices in food and grocery store shelves by this time next year!
You’re looking already at a 14 percent increase in the cost of diapers. You know what? That actually hits people hard. That hits young American families really hard.
None of this is good. And you know what? Joe Biden owns every bit of it.
There was a study that came out the other day, a poll that showed Joe Biden’s popularity is less than that of Donald Trump’s or Barack Obama at this point in his presidency. And you might say, well, why is that? And I know exactly why this is. It’s because of this inflation. That he owns. And he needs to fix, but he doesn’t know how and he can’t, and he’s only going to make it worse. I have a prediction for you coming up. But first, just a quick word from one of our sponsors. By the way, this is quite relevant in light of the increase in food prices.
But again, back to all this inflation that we’re seeing, not just in food, not just at the gas pumps, but even in housing. I mean, this is something that is increasingly going to put pressure on the economy. And it’s not like, by the way, wages are going up. I mean, Joe Biden wants that, right? You heard him in the CNN town hall the other night sounding so callous. Right. When a business owner was like, ‘what do I do?’ Like, you know, ‘I can’t find any labor to help me at my restaurant.’ And the president’s answer is ‘well, just pay more.’
Easier said than done, I’m sorry. The minute you pay more, buddy, you know how that works, your profits go down. And so in order to prevent your profits going down because, you know, you get fixed costs like rent and the cost of the food, which, by the way, is going up, you’re going to have that comes out of somebody’s pocket. Right. And in most cases, the business owners are operating on a very, very thin margin as it is. They can’t afford that!
So consequently, they’re either out of business or well, I don’t know, they’re probably out of business because they can’t afford to pay that much more or they raise prices. We’re already seeing so much in the way of higher prices. Kimberly-Clark came out big manufacturer of consumer products and said they were raising prices along with Procter and Gamble. I mean, this is just the way it is anywhere you go right now. I go to my local restaurants and guess what? You know, they’re charging more for every entree. And by the way, there is no help in the restaurant itself. So we’ve got a problem. And it’s not going to be fixed by just, you know, magically waving a wand and saying, ‘OK, we’re just going to pay more.’ That’s not going to happen. Prices are going to go up.
And the Federal Reserve has got to step in at some point and probably do something which is going to be painful for the stock market. I mean, we’re not seeing evidence of that yet. I should point out. I mean, think of how cheaply you can borrow money from the U.S. Treasury. Treasury bonds yielding like one point three percent. It’s actually kind of scary. That, by the way, is not a very good investment because I’m pretty sure that inflation is going to be way higher than that. So you got to think about how you’re adjusting your portfolio accordingly.
But overall, I mean, there’s this malaise in the economy right now, and he owns this. In fact, I think this is what will cost the Democrats well, that and the whole social unrest that we’re seeing. Right. And I’m not talking about the January six stuff. And you probably saw the hearings and it’s tough to watch. And of course, there’s a ton of grandstanding and there’s a ton of exploitation of the politicization of all this. And I expect more of that in the coming days. I mean, the Democrats will basically hold that up forever and say, see, you can’t trust Republicans because, look, if they’re given a shot, they might just have an insurrection. And so that’s going to be painful for the country for many years to come. But I’m talking about some of the social unrest in terms of racial relations. I mean, the critical race theory that’s trying that they’re trying to advance in schools right now, which seems to be causing more division. Right. Rather than than bringing people together. In fact, another Gallup poll looked at racial relations here in the U.S. now and concluded that they’re the worst they’ve ever been. How does that happen? We’re working towards, you know, trying to have some kind of unity? We had Barack Obama in there with Kamala Harris now. And yet these are politicians that actually use race as a way to divide. Right. So male, female, black, white, rich, poor, anything that they can get right to try to PIN people against each other, and so instead of working towards a society where we we value people as people. We’re now looking at them based on the color of their skin, and you’re supposed to get special benefits based on the color of your skin.
Down in Dallas, this is an unbelievable story. There’s a radical group in Dallas that associates with Black Lives Matter and went to two wealthy suburbs in Dallas and sent letters to families having them or asking them to take a pledge, a pledge that they would not send their children to Ivy League colleges or any of the top 50 colleges, as listed by US News and World Report, because those those spots really should go to black students who they have oppressed for many years.
And so they ask them to take this pledge and they’re actually going to publish, they say, the people that haven’t signed the pledge. So, again, more division, I suspect that the more this kind of stuff happens, though, the more it’s actually going to hurt the left because that’s just not where America is.
You know, that’s not the kind of country we are and we don’t divide based on race. And this isn’t going to ultimately fly in. The pendulum swings. Right. And I hope and suspect that the pendulum eventually swings back to some kind of normalcy in the middle. I mean, can we just have, like, radical normalcy? Is there such a thing? Can we have a base for normal people? Because this leftist extremism is going to cost us and it’s going to cost our future generations in a way that is going to be really painful for many, many years to come.
So we need change here. We need change in twenty, twenty two and we need change in twenty, twenty four. And just remember, you know what, our economic future depends on it.
This White House is so careless with our money that they are spending two billion dollars. To basically dismantle the border wall that Donald Trump had put up. I did that story just yesterday on the podcast. I mean, it’s crazy. Two billion dollars. It’s three million dollars a day. This is according to a Republican congressional report, money that we don’t have.
And you have more than one hundred and eighty thousand migrants trying to get into this country that are being apprehended. For some reason, the left thinks, come on, come on. Oh, unless you’re from Cuba, right? If you’re from Cuba, you’re not allowed to come here. And they do actually call you a migrant as opposed to an immigrant. That’s what Mayorkas is saying. ‘Don’t come here. We’re going to send you back.’ I mean, those are actual refugees, right? That might actually get killed if they go back to Cuba because of that regime. But no, no, they can’t come! Though somehow everyone from Mexico is allowed to come up.
Look, it’s so broken. It’s so political. I’m so disgusted by it.
But just know this. Inflation is coming regardless of what the 10 year yield is telling you. We have inflation. It’s not transitory. When these things start, they’re very hard to rein in. Just as Paul Volcker, who was head of the Federal Reserve in the 1970s and was trying to deal with the aftermath, the Jimmy Carter administration, this is not good.
Check out my website, go to Trish Intel dot com. Make sure you sign up for that newsletter, because you know what? They’re trying really hard to keep people like me from talking. I mean, they’ll never be able to do that. But nonetheless, it’s critical that you and I have a direct connection. So subscribe to this channel, subscribe to the podcast, go to Trish Intel dot com, subscribe to my newsletter. And let’s keep on talking and let’s hold these leaders accountable. I’ll see you tomorrow.