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The Ben Shapiro Show

Ep. 1784 - The Economy Is Spiraling The Drain

Wed Aug 09 2023
EconomicsGovernment SubsidiesESG InitiativesPolitical StrategiesAbortion RightsGender and SexualityPansexuality

Description

This episode covers a range of economic topics including American credit card debt, Bidenomics, government subsidies, economic challenges, ESG initiatives, political strategies, Joe Biden's failures, abortion rights, practical steps, gender and sexuality, and Wayne Brady's journey as a pansexual. It also explores philosophical concepts related to quality and the gap between science and values.

Insights

American credit card debt

American credit card debt has reached $1 trillion, presenting challenges for borrowers.

Bidenomics and flawed economic policies

Bidenomics is a failed economic policy that leads to stagnation. Flawed economic policies and government subsidies have resulted in bankruptcies of companies like Proterra and Lordstown Motors.

ESG initiatives and free market principles

Corporate firms are getting rid of ESG initiatives due to economic downturn. Republicans could take advantage of this by focusing on free market principles instead of manufacturing policy.

Political strategies and election results

The Republican Party's strategy of denying election results is not effective. Republicans need to focus on winning rather than dwelling on past issues.

Abortion as a key election issue

If Democrats make the next election all about abortion, their voters and some moderates will ignore other issues and vote to keep the GOP out of power. Republicans need to consider practical steps and incremental gains rather than always going for broke.

Gender, sexuality, and philosophical concepts

There is no clear genetic marker for sexual orientation. The book 'Zen and the Art of Motorcycle Maintenance' explores the concept of quality and the gap between science and values.

Wayne Brady's journey as a pansexual

Wayne Brady suppressed his sexuality due to societal judgment. He identifies as pansexual, which means being attracted to anyone who identifies as gay, straight, bi, transsexual or non-binary.

Chapters

  1. American Credit Card Debt and Bidenomics
  2. Flawed Economic Policies and Government Subsidies
  3. Government Backed Companies and Economic Challenges
  4. Economic Issues and Debt Concerns
  5. ESG Initiatives, Free Market Principles, and Cultural Policies
  6. Political Strategies and Election Results
  7. Joe Biden's Failures and Abortion Rights
  8. Abortion as a Key Election Issue and Practical Steps
  9. Gender, Sexuality, and Philosophical Concepts
  10. Wayne Brady's Journey and Pansexuality
Summary
Transcript

American Credit Card Debt and Bidenomics

00:00 - 05:53

  • American credit card debt has reached $1 trillion.
  • Bidenomics is a failed economic policy.
  • Corporatism, which cuts out competition, leads to economic stagnation.
  • The 1950s boom in the US was due to post-war rebuilding efforts.
  • Biden's industrial policy and redistributionist policies have real costs.
  • Free markets are based on individual property rights and create positive externalities.
  • Competition and choice benefit consumers in capitalism.
  • The stock market provides liquidity for new businesses and fosters innovation.
  • Profit is an incentive for creating innovative products.
  • Taking money out of efficient markets hinders economic growth.

Flawed Economic Policies and Government Subsidies

05:40 - 11:29

  • Industrial policy of sucking money out of efficient markets and investing in less productive areas is detrimental to overall economic growth.
  • Nostalgia for the 1950s ignores the advancements and conveniences of the present day.
  • Stagnation, not inflation, is the long-term threat to the US economy.
  • Removing innovation from the economy and favoring political supporters leads to stagnation.
  • Free economics creates better products, cheaper products, and better jobs.
  • Joe Biden's economy is facing recession due to flawed economic policies.
  • Inflation rate under Joe Biden has reached 16%, while real wages have decreased by 3.5%.
  • Helicopter money leads to increased prices and decreased purchasing power for consumers.
  • Companies that receive government funding but are unproductive will eventually go bankrupt.
  • Proterra, an electric vehicle parts supplier favored by Joe Biden, is an example of a company that should not have received government support.

Government Backed Companies and Economic Challenges

11:02 - 17:26

  • Proterra, a company backed by the government, has filed for Chapter 11 bankruptcy.
  • Lordstown Motors also filed for bankruptcy after failing to resolve a dispute over promised investment.
  • Proterra's shares nearly halved in value after the bankruptcy filing.
  • The government's industrial policies and subsidies are failing.
  • Kamala Harris falsely claimed that wages are up and inflation is down under Bidenomics.
  • Inflation has fallen for the past 12 months, but it is still continuing at a slower rate.
  • The American wage earner and businesses are facing significant costs due to these policies.
  • The future of American growth is precarious.
  • There have been investigations into corruption in political families such as the Kennedys, Clintons, and Bidens.
  • Good Ranchers offers American meat delivered to your door without disguises or surprises.

Economic Issues and Debt Concerns

17:01 - 22:49

  • Liquidity is drying up, leading to a decline in new loans and real estate markets.
  • Stocks declined due to weak Chinese export data, dimmer financial outlook from UPS, and credit downgrade for US banks.
  • Investors are turning to government bonds as they become more attractive compared to stocks.
  • Moody's credit rating downgrade raises concerns about tighter lending and the banking system's ability to withstand higher interest rates.
  • China is slipping into deflation, putting pressure on Beijing to take action.
  • Both China and the United States have high levels of debt, which poses risks in the future.
  • US consumer credit card loans have reached a trillion dollars, presenting challenges for borrowers.
  • The US has significant household debt in mortgages, auto loans, student loans, and credit card debt.
  • The impact of these economic issues will likely affect the 2024 race.

ESG Initiatives, Free Market Principles, and Cultural Policies

22:22 - 28:27

  • Easy money is drying up, leading to the end of foolish corporate policies.
  • Environmentalism is often a concern of the privileged rather than those in poverty.
  • Loose money policies allowed bad companies and corporate policies to thrive.
  • Corporate firms are now getting rid of ESG and DEI initiatives due to economic downturn.
  • Conservative legal activists are challenging affirmative action and diversity initiatives in universities and corporations.
  • S&P Global has stopped giving numerical scores for ESG criteria in debt ratings.
  • Investors prioritize profitability over diversity HR videos or ESG matters.
  • The reversal of ESG scoring by S&P indicates an upcoming recession.
  • Republicans could take advantage of this if they focused on free market principles instead of manufacturing policy.
  • The Republican Party's success in red states is more influenced by cultural policies than industrial policy.
  • Entitlement programs should be addressed, but both parties continue spending without considering systemic problems.
  • America's perception as capitalist leads to blame on free markets during economic crises, resulting in calls for more government interventionism.

Political Strategies and Election Results

28:00 - 34:20

  • American politics needs someone who can talk about the beauties of the free market and address systemic economic problems.
  • Kerry Lake is preparing for another Senate run in Arizona, despite losing the governor race.
  • Declaring victory in a lost game does not make you the winner.
  • The Republican Party's strategy of denying election results is not effective.
  • Arizona Republicans are focused on relitigating past elections instead of finding stronger candidates.
  • Republicans cannot afford to lose Arizona, as it has shifted towards Democrats recently.
  • Kristin Cinema is currently leading in the Senate race, but a stronger Republican candidate could change that.
  • Republicans need to focus on winning rather than dwelling on past issues.
  • Brian Kemp won as governor of Georgia despite Republicans stewing over the 2020 election results.
  • Donald Trump should not rely on relitigating the past as his key motivation for victory in future elections.

Joe Biden's Failures and Abortion Rights

33:55 - 40:03

  • Introducing the Genusol dark spot corrector, a three-step luxury system that safely and quickly corrects dark spots on the face, hands, neck, and chest.
  • Donald Trump can win the race by highlighting Joe Biden's failures as a president.
  • Running on the basis of legal cases is unlikely to lead to a successful presidential election for Donald Trump.
  • The recent special election in Ohio was about changing the state constitution to require a super majority for passing amendments.
  • The defeat of issue one in Ohio was seen as a referendum on abortion rights.
  • Joe Biden is among the least popular and potentially corrupt presidents in modern American history.
  • Allowing Democrats to make next year's election all about abortion could result in Biden holding onto the White House.

Abortion as a Key Election Issue and Practical Steps

39:43 - 45:57

  • If Democrats make the next election all about abortion, their voters and some moderates will ignore other issues and vote to keep the GOP out of power.
  • The speaker is fully pro-life but believes that taking the hardest pro-life position in every state will not lead to electoral victory.
  • Republicans need to gradually convince the American people of their positions instead of expecting immediate change.
  • Overwhelmingly Republican populations have voted to enshrine abortion in Kansas constitutional law.
  • Republicans need to consider practical steps and incremental gains rather than always going for broke.
  • Political honesty is lacking on both sides of the aisle.
  • The College Board lied about Florida banning AP psychology when it was actually the College Board's decision to remove the course.
  • The AP standards on psychology include teaching about sex and gender, but AP wants a more gender-oriented approach which Florida objected to.
  • The American Psychological Association (APA) argues that AP psych should include more content about gender and sexuality, but this may not reflect the best science on these topics.

Gender, Sexuality, and Philosophical Concepts

45:35 - 52:08

  • There is no clear and convincing genetic marker for sexual orientation according to a study by the human genome project.
  • There is no scientific evidence supporting the existence of a female brain and a male brain.
  • Florida did not ban the AP course, AP banned the AP course.
  • Zen and the Art of Motorcycle Maintenance is a book written by Robert Pirsig that explores philosophy and quality.
  • The central idea of the book is that there is an undefinable concept called quality that drives human beings.
  • Quality can be perceived in various aspects of life, such as music.
  • Science cannot bridge the gap between what is and what ought to be because it lacks values.
  • The book suggests that religion fills the gap left by science in defining higher values.
  • Wayne Brady has come out as pansexual, which means being attracted to all genders.

Wayne Brady's Journey and Pansexuality

51:41 - 56:44

  • The host of the game show, let's make a deal, said he had suppressed his sexuality and felt worried about people finding out while also feeling shame about not being honest about himself in an exclusive interview with people.
  • People are like, 'I want my privacy. Give me my privacy. My private life is my own. I want to bang that one.' It's like, 'Uh, oh what?'
  • Society celebrates marriage between a man and a woman because it has positive societal externalities by creating families and future generations.
  • Brady identifies as pansexual, which means being attracted to anyone who identifies as gay, straight, bi, transsexual or non-binary.
  • He pushed aside his attraction to men due to how he was raised and the fear of societal judgment.
  • Brady realized he needed to work on loving himself more during his path of self-discovery.
  • There is no exact definition for pansexuality and individuals who identify as pansexual may have their own specific take on the identity.
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