What Jobs? - February 4th, Hour 2

Published Feb 4, 2022, 11:01 PM

Austan Goolsbee, a Professor at Chicago's Booth School of Economics and former chairman of the Council of Economic Advisers for the Obama Administration, discuss the job report out today with Sean. 

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An hour two Sean Hannity's show toll free. It's eight hundred and nine for one, Sean, you want to be a part of the program. A lot of economic news, and we're going to get to our very distinguished colleague, professor at Chicago's Boot School of Economics, former chairman of the Council of Economic Advisors for the Obama administration, Austin Gulsby. And because he's a professor, I'm gonna have him great Joe Biden on a variety of issues now, but first we're gonna start with the economy. And I don't know, call me suspicious. ADP, which has a great reputation reported a three hundred thousand job loss for January. Now, the Biden Labor Department reported a foreigner in sixty seven thousand job gain. Now you might think, Hannity, you want the economy to be be a no, because I love my fellow Americans and Biden. Inflation, according to Penn Wharton, is costing up to five thousand dollars per household because of the disastrous economic and energy policies oil. So so we have mixed review on that number. Let's give Biden his number for the day. But I'm not buying it. I'll put that aside. Then you have Laurence Summers, not a dumb guy predicting the Biden inflation crisis or forty year high will become the Biden recession by the end of this year. Recession defined as two negative quarters of growth. Anyway, he said, macroeconomic policies that push demand well passed the economy's capacity, such as those we've pursued over the past year, do not just lead to inflation, but rather to increasing inflation with the inflation rate accelerating for as long as the economy is overheated. And he talked about the painful lessons of the sixties, seventies and Jimmy Carter's recession. But you know, just in context here, I want to bring in our good friend, professor at the Chicago prestigious Chicago Boot School of Economics who's never invited me to be a guest speaker, Austin Goldsman. How are you, hey, Jean. I'm gonna need to get you in touch with my TA because you got yourself worked into a corner there with your numbers. Well I really did. I mean every number I gave was accurate. Ninety one bucks a barrel. The quotes of Laurence Summers were real. ADPs numbers yesterday showed a three hundred thousand job loss. The Biden Labor Department shows a fourner and sixty seven thousand job gain Lawrence predicting. So it's more what you what you left out Partizac accident. But twenty twenty one biggest job growth year ever, second highest economic growth rate in the last half century. Only Ronald Reagan's nineteen eighty four was better, and a very strong job market with a lot of wage gains. So there are so basically after the pandemic and positives. So if we go back to the three years of Donald Trump, prior to the pandemic, we had record loan unemployment numbers. By the way, for every demographic group in the country. Here's my question. You and I've gone over these numbers again and again and again. We're not going to agree. So I've thought today we'd do something different. You're ready, let's do it. Okay, you're a professor. Now, do you consider yourself a hard grader or you kind of you know one of the professors that yeah, I'll give the kid a B plus. I don't care. I'm probably a tough grader, you really are, Like, how how many kids are in your average class? I teach three sections and each one's got about seventy kids? Okay, how many of the seventy in each class? We will usually end up with an A. They kind of have a forced average GPA at the school, So there's a there's a forced curve. By the way, that is so outrageous. That is that is such an injustice. If you deserve an an, give a kid an A. If you're giving out too many a's because you have too many smart kids, well that's not your problem. That's the tough and the thing is, over time at University of Chicago, they've gotten smarter and smarter. If you go to just look at their desk scores, they've gotten smarter and smarter. So it's gotten all. Now you have to give a kid a b plush because because you can't give out the A that he deserves because you're given out too many as. Yes, you know what, So, by the way, I blame your Democratic Party for that crap. That's just you know you're talking about you know, that is the biggest bunch of Adam Ship i've ever heard of my life anyway. So because they're too tough, you're usually telling me that my Democratic friends, there's no flakes, they're too easy. Now I'm telling you we're too tough and graiders, and you're like, that's not how you're telling you. That's not what you're telling me. You're telling me kids that really deserve as you can. You can't give aids to everyone that deserves them because they have this phony curve. If they kid deserves an A, give them an A. If every kid, all seventy kids deserve an A, give them all a's period. I'm not saying to give them anything for nothing like this professor gave them all. Yeah. Then then, by the way, then you'd have five hundred kids in your class the next semester. This word would have get out pretty fast. You're an easy greader. All right, Let me go. Let me on the economy. I'm not really gonna fight you on it, but I just just I just want my audience to sort of get into the mind of a Biden supporting Obama loving New Green Deal, socialist radical Sean Hannity calling great American. That's right, I did call you a great American. You are a great America. I did write that. Now that is true. I don't lie. And but the thing is, you know, you're a wonderful person. There are liberals that are, you know, just power hungry and no damn well, what they're doing isn't gonna work. You're not one of them. You really believe in redistribution of wealth. Put it all in a big pot. We'll share it equally. Blah blah. I should have just stopped you at l and you're a great American. Let's agree on that far. All right, Grade Biden, I'm supposed to grade. Wait, you just tell me the rules. I'm grading the conditions or I'm grading though we're grading the overall state of whatever the topic is, For example, the first overall? What grade would you give Joe Biden on the economy? I would his policy response or on how the economy is how the results of his policies? What would how is he doing on the economomy is doing? I would say labor market straight? No, no, no no, no, no no, it's a simple question. It's an ABCD or F. There's no even plus of biduses. All right, you can add plus and minuses. Go ahead, I would say conditions, I would give a D plus. All right, I'm at an, I am at an. All right, listen, I just want to know how crazy you really are. All right, now, let's go a little deeper. Um. Now, over Christmas, we ran out of COVID tests. They were presented a plan in October. This was all chronicled by any Fair and they said, we can make seven hundred and thirty two million tests a month leading up to the holidays, every month, and you know leading we know that there's a predictable spike with Hanukkah and Christmas and New Year's and a lot of get togethers. They said, no, we ran out of tests. We also ran out of monoclonal antibodies. Yeah, we've had FDA approval forever for these anti virals like but from FAISA and MURK that every doctor I talked through raves about. They ran out of all of it. Now, how would you grade Joe Biden's and remember we had more we're dead people from COVID in twenty twenty one, twenty twenty, How do you grade him on COVID? H for sure? On testing? I grade him low And I got to be consistent. I was very critical of the Trump administration. At the beginning, they were trying to get one million tests, not seven or million tests, and then they failed to do it. And I was very critical, so I have to be very Let me tell you something. We never ran out of ventilators or PPE and operation more ran out of tests and okay, operation more critical. So i'm i'm I'm siding with you. I think that was an unforced what's the grade? And uh at best? To see I give him forget you are not a hard grade. He gets an F. Now now you only talked about tests. How did you How did he run out of test? Now and during the third year of the pandemic and you give him a C? Now you out of your mind? No, no, wait a minute. You you said on all of COVID and okay, so they're getting building up the capacity to have the vaccines. He can't convince the one third of the country that got into this. You get about that. We ran out of monoclonal antibodies, the best therapeutic. He never warped speeded the anti virals, and we ran out of test what's the overall? Great I told you overall, I give us C. I think there are areas where they're great strength. All right, Well, we got a lot of other topics. All right, okay, so I give him an f um. Now, let's you. You're in the East German judge at the Olympics. Man, you gave him a f best line you've ever had. All right, Now, let's go to the issue of energy. When when Joe Biden, Joey, you know, when he's awake, Mike, get ice cream if he has his wife Paul, you know, come on, Joe, come along if you get off stage, now we'll go upstairs and get some ice cream. Um. Anyway, overall, we were a net exporter of energy, and we also were energy independent for the first time in seventy five years. Donald Trump achieved that. Now, now owe me that. So I went and looked it up. But we imported two point nine billion barrels of oil last year. So at last, at the end of the year, go back and look at the end of his last year. It didn't import a single barrel of oil from correct, from Saudi Arabia point eight seven million millions. So we were a net exporter. Yeah, but we imported all of that oil. Okay, We've never reduced production here's my question. Who approved the exporting of ooid? Okay, let me ask you just to get to the cut to the chase. What do you give a grade on Joey on energy? On the production of energy? No, energy prices are through the roof oil. Oil prices now are at a seven year high. He has artificially reduced exploration for gas and oil in anmir He stopped the Keystone Xzone pipeline. He has put other environmental obstacles up that prevent that prevent the exploration and extraction of energy. He's begged OPEC numerous times to produce more, and he's even begged Russia. What is your great I need you to explain why twenty twenty one, he's going to be the third highest production of American oil, asking you why is he even? Why is it? Why is he decreasing our ability to produce energy, oil and gas, the lifeblood of the world's economy. You're missing the whole point. He has put restriction. He's restricted Anmar, he's restricted other parts of Alaska. He's restricted pipelines. He's restricting in Texas. He's he's restricting any exploration and extraction anywhere that he can. What are you talking about when? Then, how do you explain why? Because we artificially reduced the supply while the demand has remained constant, and he's making Russia rich again because he gave Vladimir Putin a waiver. Whole premise the US production is weighed down, but it's not, by the way, And if you are my student, I'd kick your ass out of the classroom right now. If for not answering the question what what what is? What is? You might have had the best line ever, though I can't. I don't think I can top that today. All right, more with Austin Gulsby as we try and extract grades out of him for the Biden's failed policies on pretty much everything. On immigration overall, Joe Biden, we have had a twenty five year high last year of illegal immigrants. He stopped to stay in Mexico, policy, stopped building the wall. Now it's it's not only process and release, but preferential treatment, no COVID testing. Jens Hockey said, they're not going to be here very long. They're flying people all over the country in the darker night. Now today Kamala and Joe are talking about amnesty as reparations for child separation issues under the Trump administration. What's your grade on their handling of enforcing the law of the nation on our borders? Spot? Starting spot? I think on immigration is super important and I want there to be more immigration. Okay, legal immigration? We had legal immigration? True or false? As true or false question of immigration plunge. Is Joe Biden enforcing the laws of the land as it relates to immigration. He is enforcing a lot of the laws of the land. Yes, man, I'm not sure. What's your grade for him overall on controlling legal immigration and is handling of the illegal immigration? What I gotta go? What's the answeration? What's the grade? I'm going to give him a high grade? Because what are you going to give them? Not give me a grade? Immigrants? Here? I want more immigrants. They create jobs. You are a brain in the neck? Can you just answer? What grade on immigration? I give them so far, abe, but mostly incomplete. I want them to be more immigration. Oh you are? You are? You have lost your mind? Why the fact that you the whole premise of your thing is that, okay, we should do let's let's extrapolate it out. What grade do you give him on stopping wrong. What grade do you give him on stopping illegal immigration? On stopping illegal immigration? M if I look at the numbers compared not to the middle of the pandemic, which is what implicitly you're doing. Oh my god, to the pre pandemic. You gotta at least give them a bee. You are, you are, your your, Your students need to hear from me. They I need to counter this indoctrination that you're that's going on at the Chicago Booth School of Economics. Man, all right, I gotta roll. You're okay, you gotta go. All right, thank you. Austin Goesby. Oh my gosh, I feel like I was extracting teeth here, holding them accountable. Sean gets the answers no one else America deserves and know the truth about Congress twenty five to the top of the hour. Peter schweitzer Is new book, By the Way, is number one on the New York Times list Red Handed, How American elites get rich helping China win. He's going to join us. So they had the opening ceremonies of the Olympics earlier, Nancy Pelosi's words to the athletes, so don't speak out don't talk. You might they might get mad at you. What happened to the Land of the free, the home of the brave? You know, the cause of liberty and freedom? What you're gonna get? What do you want people to do? Get on bended knee and praise the corrupt, hostile regime of the communist Chinese, the ones persecuting the weaker minority in China, the ones that are flying their fighter jets over Taiwan. Today's telling them they're going to take their country over, the ones that have cracked down in Hong Kong, the ones that gave the world COVID. Hell, what do you mean? What is the what do these words mean? Land of the free, home of the brave? If I go to China and I'm an athlete, You're damn right, I'm gonna speak my mind. I'm not gonna listen to Nancy Pelosi. What are they gonna do? Take me hostage, kick me out of the country. China's got themselves a big pr problem. And why the Olympic Committee picked China as any I don't know. Oh, we're gonna have a diplomatic boycott. That means a lot. Oh so that that dopey secretary of State isn't going to show up Lincoln. Blincoln, who's an embarrassment anyway. They have no respect for him at all and not stupid. So I want to play, does Nancy Pelosi you might not want to talk? And then Joe Biden says, I'll think I'll compromise. The Biden family is and Peter will get into this later thirty one. You know, million dollars in business with China, one point five billion dollars deal with the Bank of China, zero experience hunter and make it up. How compromised are the Bidens completely with China, Russia, Ukraine, you name it. The last name was Trump. You have very different media coverage of this would be going on. And Joe Biden on China's abuses, well, countries have different norms. The central principle of Sijingping is that there must be a United tightly controlled China, and he uses his rationale for the things he does based on that. I point out to him, no American president can be sustained as a president if he doesn't reflect the values in the United States, and so the idea I'm not going to speak out against what he's doing in Hong Kong, what he's doing with the wiggers in western mountains of China and Taiwan. Trying to end the one China policy by making it forceful, I said, and by the he said, he gets it. Culturally, there are different norm to each country, and their leaders are expected to follow. You said quote it is in our self interest that China continue to prosper. A lot of people think that allowing China into the World Trade Organization, which you supported, extending Most Favored Nation status to China, which you supported, that those steps allowed China to take advantage of the United States by using our own open trade deals against US. I think in retrospect that you were naive about China. I would say to our athletes, you're there to compete, do not risk incurring the anger of the Chinese government because they are ruthless. I know there is a temptation on the part of some to speak out while they are there. I respect that, but I also worry about what the Chinese government might do. I cannot believe these are the two leaders in this country. I can't. Oh. I see my friend Pearl from Brooklyn is standing by. We had a call yesterday about from a woman I think her name was Diane, and she had family members in the Holocaust. For many years, Pearl's mom, Hannah, who was a Holocaust survivor, was a regular call to this program. I love this woman. She's an amazing woman. It's the horrors that she would describe. You can't even imagine the evil Pearl. We miss your mom. Good to hear from you, However, I know you you're never going to recover. Your mother was such a special lady. Thank you so much, Sean, thank you from the bottom of my heart for remembering and speaking about my mother on yesterday's program. Your program was excellent and the event with Whoopi Goldberg on the view. It shows us and it's proved to people in this country that she is uninformed and not educated about the Holocaust. Unfortunately would be she represents the majority of Americans who are not knowledgeable about events of the Holocaust and the atrocities that were perpetrated on the Jews. Sean six million Jews were murdered only because they were considered by the Nazis to be an inferior race. And in this country there are thirty one states in this country that they are schools they do not. They are not required in the schools to teach about the Holocaust, So how are they to learn? How do you know? How do you teach world history and not talk about, you know, for the last century, Mao and China, Stalin and Russia, Fascism, Nazism, the Holocaust, the death camps. How is it possible, Pearl, that I can't even believe you're telling me this? Yeah, how do you father? Why did my father fight four years in the Pacific and World War Two? And and why did America go fight with the Allies against you know, this horrific, evil regime. Why did we do that then? Exactly? And God bless the American soldiers who liberated the concentration camps all over Europe. But you might remember Marty he slammed the beaches of Normandy who used to be a regular caller, miss him too. Yes, And they have so much anti Semitism in the United States and all over Europe that we must learn to combat anti Semitism by educating adults and young people. I'll tell you where we're not. We're not, but we're not doing it, Pearl. And I'll tell you another thing. We now see worldwide this rise of anti Semitism, and it's not just radical Islamis. And and I'll tell you another thing. People don't know Israel's history. You know, people don't know um. They don't know about the nineteen forty eight UN partition Plan, they don't know about the sixty seven war, they don't know about what happened in seventy three. They don't know what life is like on in border towns that I have visited myself, where you know, rockets are being fired almost every day from Gaza into these cities. I remember when you went to Israel. You were the only person at journalist or politician that went to Israel when they were throwing rockets, and you went into the tunnels, yep. And I know you're six feet tall, and you stood up and you put your arms out to show what the Arabs did with the money that was given to them by the United States and Israel. It was the United States and Israel's money for schools and hospitals, and they and they instead they took the money and they built these tunnels from Gaza so that they can sneak into Israel. And there were so many of them and kill Israelis rather than rather than help their own children and their own families. It's sickening, yes, and people don't know. That's you know. The people that I know, my family, my friends, we know the history, but the others don't. Well, that's why I do take the time to go. That's why I went on a tour of the Old City with Dory Gould. That's why I've been friends with Bebe for twenty seven years. For crying out loud, everyone knows that you're a great supporter and great friend Israel and Jewish people listen on the whoopie side of it. The only thing I would say, and you know, my heart pearl, yes, she just she didn't know what she was saying. It's do I think she has you know, is she an anti semi? No? I think she didn't. She understood the evil part of it. She didn't understand the underlying, sick, twisted, ugly ideology of Nazism and a superior race, because that's what it was about, and it was about extinguishing every every single person, starting with Jewish people. And over six million Jews were slaughtered in these death camps, and they were gassed, and they were killed, and they were murdered and it was human evil on a degree. I know people don't want to we want to be happy in our spare time, but you need to educate yourself. There are videos of people in these death camps. Watch the History channel, you can pull it up on demand and learn and watch the horror emaciated people you know that were eventually slaughtered. I mean, it's just yes, people need to visit, you know, for example, like whoopee as a start, she needs to visit the Holocaust Museum in Washington, see Washington. She needs to listen to the Holocaust survivors. There are many tapes, many and unfortunately we lost we lost many survivors. There are very few left and they were our living witnesses. Your mother, your mom, yeah, who we love and there and they they're dwindling. There are no more survivors. And also for me, there are no more soldiers, very few soldiers. Pearl, we love you. We'd think of your mom and uh, I'd like she would be proud of you. Thank you, And I just want to give you a caller as a message. It's some Elie Wisel said, when you listen to a witness, you become a witness. It's a great line. Yeah, it's a great line. All right, Pearl, God blush your pleasure, my pleasure. One day. We're gonna we're gonna see your mom in Paradise one day. I'm pretty confident. Okay, thank you, Sean. All right, eight nine, I was on number you want to be a part of the program. Quick break, we'll come back, we'll continue, all right, back to our busy phones. Robert, South Carolina. What's up, Robert? How are you, sir? Hey, how are you doing? Trump? I'm good? What's going on? I've been driving a truck for twenty five years and I'm listening to your show for at a long time. And thank you. By the way, you we're gonna have truckers. We're gonna have the organizer of the Freedom Convoy here in America on and we're gonna have one of the organizers of the Canadian By the way, we have a lot of updates. They're winning on a lot of fronts. That's coming up at the top of the next hour. Let's go anyway, what's on your mind today? That's really funny that you said that. We just got a company wide to email that any owner operator that works that is leased onto the company that I work for. If they participate in any convoy as like what's going on in Canada, their at least will be terminated. Well, if you need another company, it just so happens. I have very close friends that have a trucking company and they'd love to have you on. So if you ever want to, if you find yourself in a situation you need to go with another company, A'll be glad to hook you up and hopefully it'll work out for you. All that sounds awesome. I've been doing it twenty five years and the respect that we get out here is completely it's ridiculous. We don't get any none. No, I hate that. But I think people but are your heart shouldn't be troubled. Look at the support of the truckers in Canada, the ten million dollars that you know go fund me. They can't, they can't unfreeze this. To me, something fishy is going on. But all the people that even even though they know this is going to impact the products that are usually available in the stores they go to, that it's not going to be so readily available, they're still supporting the truckers. And if they hold out. They're winning already. You know, I'll give the latest updates at the top of the hour. But Alberta, Saskatchewan are taking the lead. They're saying, okay, we need our truckers back, and they're lifting the restrictions. And you know, you saw what the Supreme Court did here. But I think people we have hit a tipping point. The cops are supporting them. The military members are saying, if you send us in to go fight against the truckers, there's no way in hell we're doing it. So justin Trudeau's losing, he's going to lose if they can hold out the way they're holding out, are all the people that are supporting them financially. And I think in the process, I think you're right. I think there is an underappreciation of farmers, truckers, good teachers, packers, you know, all the nurses and you know all of you are the heroes of the pandemic. Healthcare workers, you guys went into If you were not working during the pandemic in those early days, we would have starved to death. Most people would have starved to death. I'm like a little minor prepper, so I have like food for like eight months. But in all seriousness, everything we have and every story we go to is because of you guys, and I think there is a greater appreciation rising now. Really appreciate that, and you know my whole Susen truck drivers. But you know what scares me though, I believe if they had a convoy like that in America, I believe like Sleepy Joe would probably I don't know, he probably declare martial lawns and the military after him. I think you would. Well, the Ottawa police chief is threatening to use the military yesterday. And by the way, there's not been any incident I've read of any violence whatsoever. This is truly a peaceful protest, not like the lies we were told in the summer of twenty twenty. It's mostly peaceful. Don't ignore that huge, massive fire and all those rocks and Burke's being thrown on cops. It's mostly peaceful. I mean, they just lied through their teeth. We love you guys. If we could ever help you, if if you do this and they can you and you need some help, I know some people that would be interested in talking to you. Okay, that sounds great. Thanks, So all right, thanks for what all of you truckers do every day. We appreciate it more than you know eight hundred and we should appreciate it more than they know. You know if you see a truck, or one day maybe buying like a sandwich when you go into the store.

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