4% will do it or 5% will do it, if everybody is concentrating on the headline number, of 8.2%. again, in 1982, paul volker took rates to the mid teens to snuff out inflation. it might possibly have to take us much higher than that. it was a lot higher back then. and it is not great for the party in charge. six days out before the election and when you talk to voter, inflation is the number one issue, the economy, inflation, gas prices are too high, and look at everything that is going on, i will blame the party in charge and the president will come out in a couple of minutes and he will try to say later this hour, a little bit later this hour, he will try to say hey, listen i m trying to do all of these things to tamp down on it to keep the economy humming along, and the employment is very strong, the numbers are so low, how do you explain to voters that these moves take time? you can t really thread that needle. will you bring back the congress and white house of 2020 and
martha: their whole job is to turn up the interest rates at just the right time so this doesn t happen. so what i don t understand, why we re not talking about jerome powell s job, janel yellen s job. they were wrong. that s their commission, to keep the economy humming. they failed, right? it s them, absolutely. jay powell is obviously at fault. janet yellen, all of the fiscal stimulus that was pumped in to the economy, there s a lot of people that are at fault right now. but the one thing that we have seen is that with this administration, with jay powell, with janet yellen, there s no account ability. martha: nobody loses their job. it doesn t happen that way in the rest of the world. thanks, mark the upper joining us on the story. and big concern from experts surrounding a housing market crash as home prices and mortgage rates surge and americans get priced out of
drilling, including offshore. no ability for the oil industry to continue to drill, period. then something unexpected happened. bernie sanders so terrified the democratic parties top donors that they gave the nomination to senile old joe biden and then biden became president and then as president he immediately started doing exactly what he had promised he would do. biden stopped issuing new permits for oil and gas leases, he canceled federal drilling permits and pipelines and then just a month ago the administration canceled three oil and gas leases in alaska and the gulf of mexico and then eliminated more than a million acres of potential drilling sites. then to cap it off, you may have noticed, joe biden imposed an oil embargo on russia, one of the world s biggest energy producers, because democracy or something. so what happened next? well, gas want to over $5 a gallon. inflation exploded, india and china got a whole lot more cheap russian oil to keep their economy humming and the
this economy humming for four straight years. the world, including vladimir putin, feared him. he got more accomplished in four years than i think joe has gotten done in 40 years. don t you wish he was back? i know you do deep down inside. for the record, for the record, i supported donald trump until the 13th of november, ten days after the election when i thought he went off the rails. i supported him up until then. i still consider him a friend. i m sorry the way things worked out between us. just as i m sorry the way things worked out between him and sean: who is a better president, joe or donald trump? i think the jury is out on that. let me agree, let me agree, let me agree with you. it s all about inflation. it s just like james carville in 1992, it s the economy, stupid. it s inflation, stupid. ironically joe biden, he is
the guy that sent out those mean tweets had this economy humming for four straight years. the world including vladimir putin feared him and he got more accomplished in four years than i think joe has gotten done in 40 years. don t you wish he was back ? i know you do. deep down inside a guy that knows what goes on record for the record, i supported donald trump until the 13th of november, 10 days after the election when i thought that he went off the rails but i supported him up until then. i still consider him a friend. i m sorry the way things worked out between us just as i m sorry the way things worked as a better president joe or donald trump, i think the, the the jury s still out on that. but let me let me let me agree with let me agree let you agree with you. it is all about inflation. it s just like james carville in nineteen ninety two . it s all it s the economy stupid. it s inflation stupid. ironically joe biden