spenders, let them know, almost $2 trillion in deficit reduction. i don t want to hear anymore of these lies are reckless spending. we re changing peoples lives. maria: our lives are certainly changing. coming up former secretary of state mike pompeo on the number one threat to today and the mistakes that got us here from foreign policy to economics. as joe biden claims it is bizarre to blame him even as the president s approval rating plummets with key voting blocks abandoning him, minorities, independents and business. these are treacherous times. frankly the lack of leadership in washington is discouraging. for the president of the united states not once, not once, say i made a mistake, this is my fault, if you look every single thing that happened negative, the devil made me do it or somebody else. when is he going to show leadership including belly-up to the bar say this one s on me? maria: coming up the former president of the kansas city federal reserve, tom hoenig a
spenders, let them know, almost $2 trillion in deficit reduction. i don t want to hear anymore of these lies are reckless spending. we re changing peoples lives. maria: our lives are certainly changing. coming up former secretary of state mike pompeo on the number one threat to today and the mistakes that got us here from foreign policy to economics. as joe biden claims it is bizarre to blame him even as the president s approval rating plummets with key voting blocks abandoning him, minorities, independents and business. these are treacherous times. frankly the lack of leadership in washington is discouraging. for the president of the united states not once, not once, say i made a mistake, this is my fault, if you look every single thing that happened negative, the devil made me do it or somebody else. when is he going to show leadership including belly-up to the bar say this one s on me? maria: coming up the former president of the kansas city federal reserve, tom hoenig a
unemployment is rising, we ll see inflation break out again, we ll repeat mistakes of the past. one of the things i want to point out very quickly, the unfortunate thing is the quantitative tightening, the fed is going to undertake is just getting started. that will be another significant constraint on the, on the economy going forward. it will take a lot of liquidity out of the market and i think make things worse before they get better. we have high probability of a pretty good recession coming our way. i agree, unfortunately cash is investor will find themselves wanting to be. maria: dan, you have seen this before, right? you know the dot-com bust, the housing bust. how long do you expect this to take? what about technology stocks and growth names? how come they take it so hard in a big selloff? well, i think couple of things. i think this is going to be a longer, more painful recession than most because you built up so much excess coming into this.
unemployment is rising, we ll see inflation break out again, we ll repeat mistakes of the past. one of the things i want to point out very quickly, the unfortunate thing is the quantitative tightening, the fed is going to undertake is just getting started. that will be another significant constraint on the, on the economy going forward. it will take a lot of liquidity out of the market and i think make things worse before they get better. we have high probability of a pretty good recession coming our way. i agree, unfortunately cash is investor will find themselves wanting to be. maria: dan, you have seen this before, right? you know the dot-com bust, the housing bust. how long do you expect this to take? what about technology stocks and growth names? how come they take it so hard in a big selloff? well, i think couple of things. i think this is going to be a longer, more painful recession than most because you built up so much excess coming into this.