(Video Credit: Fox News)
Fox Business financial journalist and “Making Money” host Charles Payne ripped into President Joe Biden over his “social justice” economic policies and the monstrous expense of electric vehicles.
“Charles, you know famously, politicians go, ‘So, as you decide before you vote, are you better off today than you were four years ago?’ Even, in this, case ‘are you better off than you were two years ago?’ And during the height of the pandemic, I think more people would say, yeah… it was better off last time,” Fox News host Steve Doocy said to Payne as he opened the “Fox & Friends” segment.
“It was more hopeful certainly. And I think that’s the key. Almost everything that came out in the last week, every sophisticated, well-known poll, from the Michigan Sentiment Report to the National Federation of Independent Businesses to the New York Fed, people were asked a year from now, six months from now… these numbers plummeted. Plummeted. And it’s interesting because people understand the direction of the economy long before economists crunch the numbers, right? And, certainly, before politicians get it,” Payne asserted.
“You know we had the pandemic. We shut down the economy. There was shock and awe. No one knew what was gonna go on and still, we had the shortest recession in history. We came back, we came roaring back and what we’re living through now is an experiment. An experiment Biden and others thought would work. Flooding the country with free money. They thought this would be the ultimate platform for a greater social utopianism but it’s backfired miserably,” he pointed out.
“Does he need new economists? Because it seems like the economic team is not doing a good job,” Doocy noted.
That’s when Payne ripped US Treasury Secretary Janet Yellen and Keynesian economists who have trashed the economy with leftist insanity.
“They’re doing what they’re supposed to do because it’s never been about the economy. It’s all about social justice. Read some papers from Janet Yellen back in the day. Her husband also. Together, they’re called the New Keynsians,” Payne continued.
Well ain't that just swell. With the inflation report today (9.1% now), the inverted yield curve between the 2 and 10 yr Treasuries is at a 22-year high (Nov 2000). I think we can remember what happened in 2000 and 2001 (even prior to 9/11)….f*ck Keynsian economics!!
— weatherguy2020 (@weatherguy2020) July 13, 2022
“They talked about the idea of paying workers higher wages so they feel good. So, you may have someone working at McDonald’s… give them $100,000 so they feel good and they’ll be a better worker. Unfortunately, you know, that means the menu price has to go up. That means the people who live in that neighborhood can’t eat. That means the restaurant goes out of business and everyone loses. But this is where they’re all coming from. They’re all on the same page on this,” he added.
“And they’re all on the same page, ‘Listen we know gas is expensive so please buy an electric car,'” Doocy went on to elaborate.
The Fox News host addressed the cost of electric vehicles including batteries and Payne took it from there.
“Yeah, ultimately what happens when the battery runs out, this is just a cost to the family. What’s the cost to society with these batteries? By the way, remember that ship that sank with 4,000 cars on it earlier this year? There were enough electric cars in there that that was the difference. This was a ship that was designed to put out fires. They never dealt with electric vehicle battery fires before. The entire ship sank,” Payne recounted.
I had no idea that car transport ship that sunk in the Atlantic Ocean was from an Electric Vehicle fire. I heard how bad those fires can be from the Top Gear guys but never knew they could bring down a ship!
Charles Payne always has compelling info to share. 👍@JeremyClarkson
— Bob Loblaw 🇺🇸 (@BobLoblaw555) July 18, 2022
“By the way, the ecological damage to get this, whether it’s cobalt, social damage, lithium to the seas, nickel, strip-mining the planet… there’s a cost to everybody and the environment trying to be environmentally friendly with these,” he asserted.
Payne proceeded to point out the staggering costs of replacement batteries for electric cars.
“Very, very expensive proposition. This is one reason the government is trying to subsidize them. But the free markets, I’m not sure other than Tesla, which has a built-in market, people are really ready for these yet,” Payne commented.
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