Jay Weber Show transcript 11-15-22
Well, the election results aren’t going to mean changes to this turbulent economy any time soon...but at least the republicans will control the house and be able to block any more insane, inflationary spending by Biden, Bernie and the democrats....
And no-the economy isn’t really expected to get better over the next two years... And yes, most economists are talking about an official recession next year....
And no... The stock market isn’t really expected to rebound over the next year, at least, no.
Yesterday, Morgan Stanley’s experts predicted that the stock market is going to finish 2023- right about where it is now.
I’ll say that again...as you absorb the shock: Morgan Stanley experts says- this stock market under Biden- is going to have its roller coaster ups and downs-but should finish 2023- next year-
Right where it is- this year.
So... the election is over. But there’s still no ‘good news’ on the economic horizon. The fed is still invested in crashing the economy. Major layoffs are starting to be announced before the end of the year-
Amazon is poised to announce ten-thousand layoffs starting soon-
And even when it comes to the normal ‘seasonal hiring’ that we’ve always seen around Christmas time-
Even that is falling short this year.
Everyone is starting to hedge their bets and plan for more uncertainty. Greg has a clip from Jeff Bezos...who was asked his advice about how people and business owners should be handling this market, and this economy...
And he gave the obvious answer: don’t look for reasons to extend yourself, right now. Look for reasons-not to.
JEFF BEZOS: THE ECONOMY DOES NOT LOOK GREAT RIGHT NOW, DON’T BUY NEW CAR, REFRIGERATOR, TV
It’s obvious advice-but it’s sound advice. Inflation in October still sits at nearly 8 percent. Added to last October’s inflation.... price hikes in this Biden era amount to 14 percent.The ‘ever-higher’ trajectory may have finally stalled out on some goods and services-but prices are still going up for groceries and other essentials....and that means consumers will have less money to put toward Christmas gifts, holiday parties, and holiday travel.
Real wage earnings- since the trump era-have fallen about four percent- under Biden.
And the fed’s rate hikes are-just now-starting to be felt. Jerome Powell talked about ‘additional pain ahead’ for the American people...and yeah...if Biden and the democrats refuse to do the things that would help bring down prices...
Then yes- the only option they are allowing for the fed and the rest of us is to-crash the economy. Intentionally put hundreds of thousands of people out of work. Intentionally make it too expensive for businesses to expand and grow and hire. Yeah.
Nothing has changed in ‘the plan’, postelection.
And now that the election is over, and the end of the year is coming...many economists expect the labor market to start really taking a hit.
Only -what? -230-thousand jobs were created in October?
That’s a very soft number suggesting more ugliness is on the way. Tens of thousands of layoffs certainly are.
Oh-and by the way- a new analysis of Biden and the democrats ‘final covid stimulus plan’ shows that it was a complete bust. It touched off inflation. but hey....Biden and company promised it would create jobs...
No. The so-called ‘American rescue act’ -to this date-has not created any jobs.
No.
That’s what the new analysis shows:
They go thru the math to prove that nearly two years ago-when Biden and the dems passed that sham of a ‘stimulus bill’ the congressional budget office was admitting that it wouldn’t create millions of new jobs.
Two years later-the CBO was correct, and Biden and the dems continue to lie about the ‘amazing job creation’ we have seen under Biden. The actual numbers-if you take out the people who simply went back to work- post-covid- are quite weak.
We on the right knew the democrats were lying in March, April, and may of 2021. When they were pushing to get trillions more in spending approved. They did so without a single republican vote. Their sham of a law sent direct checks to Americans who never asked for them and didn’t need them-in a naked attempt to buy more votes with ‘free’ taxpayer money...
That bill also extended out unemployment benefits -and at a more generous rate-than was necessary and went a long way toward discouraging people from getting back to work.
Every part of it backfired on us, and on the economy.
And still-these dillweed’s stand at podiums and take victory laps over pretending to have done something great.
With their votes for that act-they touched off the worst run-away inflation in 40 years destroyed incomes...slashed our retirement accounts by nearly one-third.
And now, the lingering effects of it are actually destroying tens of thousands of jobs as we end this year...
It should be criminal to lie and celebrate this sort of intentional destruction...as ‘helping’ the American people.
I’m also seeing more stories that are suggesting the high gas prices are over.
Really?
Because....when Biden took over...gas was 2.38 a gallon, nationally, and now it’s about 3.60 a gallon, nationally. That doesn’t seem like these worrisome high gas prices that have affected so many family budgets negatively are ‘over’.
Maybe they are done rising for a while...but having them settle for the winter around 3.50 a gallon is not ‘a win’ for the American people.
Meanwhile-the diesel shortages remain unaddressed...and the prediction is that the shortages will remain at least thru next spring-and the price of diesel will remain around six dollars a gallon until then.
So... that is still dramatically adding costs to every good and service and restaurant meal you eat.
In two years- Joe Biden and the democrats have fixed-nothing...and they have only managed to touch off a series of new crises that we shouldn’t even have to be dealing with- like open borders and high gas and diesel prices.
It shouldn’t even be an issue. But Biden and his team-intentionally.
Intentionally. With forethought-and with a clear amount of ‘malice’ toward the American people...did it anyway.
And still- half of the country voted democrat last week. Really infuriating.
photo credit: Getty Images