we are in a recession. the economy has been tracking all year real wages are at record lows and at the same time inflation is the highest it s been in a lifetime of most americans. so call it whatever you want, but it is a recession and it is scary. and they are ignoring it. we are gonna spend the next hour and festa getting how exactly this have happened and how to they tank the economy so fast and what is it mean? get to the answers we can speak to people who had actual credibility on economics that does not include our most highly credentialed economists. people who like the public health experts we watch the last 20 half years have thoroughly plowed and discredited themselves. a year ago right about the time he told us that vaccines will absolutely prevent you from getting or transmitting covid joe biden was asked hey what happens if we go into a recession? in response as he does joe biden invoked highly credentialed experts watch this. president biden: you know as econ
tax and the working class and so is propagated on wall street and government. so now we are in a pickle like i did get out of it? there s no good choices here because the joe biden administration on how the supply-side to the equation which means i do increase supply to meet the demand question right they won t cut regulation that would be a smart thing to do. if the cut back on some regulations be a little pro-business friendly they want to that so all you have is really heavy hammer and it s a sledgehammer for consistent federal rate increases. 75 mp increase as opposed to a ballpoint however how any more of the 75 basis points are what to deal with and for how long if you don t get rid of inflation? this thing will go on for the next year if it does go away and there will be a slow grind on the economy we really got ourselves in a pickle here. tucker: very quick almost all the business tightens that you know and cover and have for
terrorist organization and that changes everything as to what you can do. you can say you are with us or against us. i think they already go after the money. they try. they designate them as a terrorist organization. this is how they make their money. it s an illegal industry. i would rather end the drug war than fight a drug war. we can t win a war. ultimately we will have to decriminalize drugs in the united states which will handle the demand question so it doesn t end up on the streets. we know there is a down side. that s surrender. no, it s not. everybody has a right to their oblivion. people will still chase it knowhow dangerous or risky it is. to change a cut throat business
it s one of the factors that goes into people s general nervousness about the economy and about where we are going. but again, you know, there are a lot of factors and there s a lot of nervousness in the market and we re sort of clutching at straws looking at what is the reason. whenever i hear oil mentioned, which side of the coin would you like me to toss it today on the oil? do you want it to be a bad for the economy because of the revenues from russia and it s a demand question. it s a concern about demand. but also do you want it to be a positive for all of the people on driving vacations? that s a lag time in terms of how much it s going to benefit. it does. but you can t have your cake and eat it. in all seriousness, when we look at this, when you see a selloff it will accelerate into the close. for consumers sitting at home and saying, my savings, my retirement, many are quick to jump the gun and sell, sell, sell. do not make any rash decisions here, right? abso
canada. it s little more than a post tropical cyclone but has bruised the eastern united states with property damage, flooding, and power outages. at least 20 deaths have been linked to the storm. more than four million customers still don t have electricity. businesses have a lot of clean willi ing up to do. the governor of virginia expects more reports of damage and death today. a state police official in flooded out vermont is afraid of what his crews might discover. the flooding s really bad in vermont this morning. now that the storm has moved out, business owners in new jersey have serious cleaning up to do. irene s rain forced a river out of its banks and into downtown mi millburn. business owners are mopping up floors and basements that are full of water. we have more from mill burn. what s it look like, chris? reporter: good morning, carol. you know, things look a lot better here on the streets of millburn. they don t sound quite right. [ alarm ] reporter: the