Jay Weber Show transcript 9-19-24 8:10am
I did an earlier segment on the federal reserve’s half-point interest rate cut.
And yes- I called it.
I knew that the federal reserve would ‘go bigger’, even though inflation is still too high to warrant this.
Jerome Powell-is- a partisan democrat and so, even though his decisions aren’t supposed to be influenced by politics or the white house- he’s shown that ‘his are’.
This is a move to try to ensure that the stock market stays strong-thru the month of October....and a move to send ‘good economic vibes’ to the low information voters and weary Americans who’ve had to suffer under the democrat’s 40 year high-never-ending-inflation, which wouldn’t have happened if Biden. Schumer, Yellen, or any of these top democrats would have listened to the economists or displayed an ounce of common sense in May of 2021.
This is literally tossing weary Americans a bit of candy-
Like- a mini-snickers bar-
Right before they go off to vote. It doesn’t really mean anything. It’s not going to make you less hungry.
Longer term- it’s not going to amount to any real help if you’re starving...
But here...say the people who have been starving and screwing you.... here.... have a mini-Snickers. We want you to feel better about the last four years.
That’s what this rate cut yesterday is going to amount to.
For example: if young people in the audience can’t afford a house because the mortgage rates are 6.2 percent can you afford one if the mortgage rates slide slightly to six percent? Or 5.8?
Probably not.
If you can’t afford to replace your car because rates on car loans are an insane 8.6 percent....can you afford that car if the car loan interest slips to just...8 percent? Thanks to this?
No.
If you are really racking up the credit card debt, and only making the monthly payment, will you jump for joy when -or if- your credit card interest rate of 22.6 percent...slips to 21 percent?
The average credit card holder isn’t even going to notice.
I went thru this earlier, but it’s instructive: in 2020- before Biden touched off inflation...the average interest on home mortgages was just 3.5 percent. The democrat’s moves caused them to rocket up to 8.1 percent-at their worst- and they are currently hovering around 6.2 percent.... but that’s still nearly double what they were under trump.
It's the same story for car loans: under trump...the average interest on car loans was 5.3 percent-
Then along came Biden...and the dimwits on the democrat side....and now car loans are nearly nine percent.
Credit card interest? It’s sitting at 22.6 percent.
Good god.
Pre-Biden, the average interest on credit cards was 15 or 16 percent. Now it’s nearly 23 percent.
Credit card interest has leapt almost 9 percent under Biden/Harris and their awful economy.
We all have short memories. All sorts of people never pay attention to such things, and so, they ‘never knew’ what a good deal ‘borrowing money’ was in the Trump and Obama eras...
But it wasn’t just interest rates. The economy was better by very single economic measure under Donald Trump.
The Biden/Harris economy has stunk. They want to take credit for 14-million jobs created when they were virtually all ‘bounce back’ jobs after covid.
Kamala Harris tried to paint Donald Trump has having the worst unemployment rate ever-and the greatest loss of jobs ever- as if he’d done something as president to cause them.
It was the country shutting down due to the covid pandemic as part of a global effort to save lives and figure out a deadly virus.
You can’t honestly lay that rap on trump.
But you-can-honestly say Joe Biden and Kamala Harris and other democrats have been lying about ‘being big job creators’ for four years.
They are not. And never have been.
We are supposed to believe that the democrats have ‘fixed’ the economy or ‘managed its recovery’...when ...four years later...their great economy is only creating about 100-thousand jobs a month-and they are mostly part time-
And-
And- mostly going to illegals?
Come on.
Anyone who believes the Biden/Harris take on the economy is a dope.
Meanwhile-after a highly orchestrated coup and eight weeks of cheerleading.... the democrats still don’t have a plan to fix the economy and Kamala Harris and Tim Walz refuse to offer one.
The fact that Tim Walz is now using the ‘I grew up middle class dodge, when he’s asked about the economy....means that this is the official strategy of the campaign: any time you are asked about an economic plan....go into this stall and change the topic.
But if they think this technique is effective- they’re wrong. Listen to JD Vance, who is now openly mocking it during his campaign stops.
That’s good stuff-and humor-
Openly mocking Harris and Walz for these ridiculous answers- is a great way for Trump/Vance and the republicans to make the point to the American people.
Rather than angrily call them out on their lies and their incompetence- make a joke out of it- and allow undecided voters and fence sitters to chuckle along and start noticing it: noticing how neither Kamala Harris nor Tim Walz answer the questions they are being answered...in those rare instances in which they are allowing reporters to get close to them.
Folks-this is the reason that Harris continues to have such a disadvantage among independents and a number of important democrat demographics: because she refuses to take a position on nearly -anything- now.
Two days ago, she sat for a fawning q-and-a in front of the national association of black journalists.
They asked her questions like: why is it important to bring joy to this campaign?
This session was all ‘softballs’ that kamala should have been prepared to answer...but...at one point...one of the young reporters asked a rambling question about reparations...after mentioning that she, as a senator, always supported the efforts by other black lawmakers to push for racial reparations.
The question amounted to: will you form a commission on reparations as president?
And even on that issue, Kamala refused to commit. She pushed it off on congress. Folks, politicians normally say they’ll form a commission as a way to-dodge- a hard topic.
They’ll normally promise a commission because it really means nothing and gets them around the question. Kamala Harris isn’t even savvy enough to do that:
She was so awful that she got bounced out of office in her primary this year, so Bush’s reparations plan isn’t likely to be featured in the next congress...but...someone on the left will take up the mantle-and push reparations.
They’re dumb, unconstitutional, and racially divisive-and if Kamala Harris was a leader, she might have the stones to say so-
But- given how hard other members of her party are pushing them- you’d at least think she’d have an answer to the question-
Or make the rather useless promise to form a commission.
Nope. Kamala Harris isn’t smart- or strategic. And if you think that’s’ unfair- go back and listen to her roundtable with the black journalists from Monday-
It was the same filibustering and cackling and non-answers that we got out of the local Philly interview earlier in the week.
This woman is patently incapable of forming an original thought or speaking on the fly. It’s all word salads-
And in front of these journalists- there were a few times that Kamala Harris was even slurring a little and making odd movements that kind of looked like she was drunk.
Now-
Now- bear with me: i know there are the conspiracy theories and accusations flooded around the internet that insist Kamala Harris is a quiet drunk...
But i have had zero rumors to that affect and will not buy into the smear...or the narrative.
That said- she does have an occasional way of speaking that -viewed thru the filter of ‘she’s drunk’....could suggest that.
I see why the rumors are out there. I just don’t buy them. Especially without proof.
photo credit: Getty Images
audio version of the segment here > Under every measure, Trump's economy was light-years ahead of Biden/Harris
