'Tucker Carlson Tonight' host looks at the condition of the US economy as long-term unemployment hits record levels
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Good evening and
welcome to
Tucker Carlson tonight,
two thousand and twenty has been a tough year for a
lot of Americans, but especially
difficult for the experts who
claim they analyze data for a
living.
A lot of those people have been
exposed for what they are
frauds.
Think of pulling business
used to seem like a legitimate
job,
then came the November elections.
Elections
pollsters around the country got
it wrong: double digits in race,
after race,
pretty embarrassing,
but not as embarrassing as the
performance of our so called
public health experts.
They are supposed to be numbers.
People too.
They told you any public protest
against their lockdowns had
roughly a one hundred and fifty percent chance of killing
the entire population.
Meanwhile, they declared arson
totally safe.
That is basically epidemiology.
They say,
okay,
if youre starting to get the
impression that dishonest people
can easily manipulate data. To
tell you any story, they want to
tell you, you may be onto
something
consider the condition of our
economy.
The numbers out of Washington
suggest its in great shape:
stock prices, 401ks upscale,
Homeupscalehome sales,
try to buy an exercise bike or
million dollar fishing boat.
Good luck!
In many cases they are sold
out
there, a lot more billionaires
than there ever happen in this
country.
In fact, as a group
billionaires have increased
their wealth by thirty percent overall this
year,
thats by a total of eight dollars trillion
in a single year,
no precedent for that,
at the same time, from the
unemployment rate is falling.
You hear that a lot
so its all good,
as Joe Biden likes to say we
are building back better
well. That is one way to look at
it,
but look deeper.
That is not the whole story.
America has a very different
economy from the economy we used
to have even just last year.
People at the very top are
thriving.
Many other Americans are
withering away.
Small businesses and
restaurants, Americas backbone,
are on the ropes
because of the coronavirus
pandemic.
Limited foot traffic in
lockdowns translate into one hundred and sixty four thousand
businesses having to close at
one point since the beginning of
the pandemic. With sixty percent having to
close permanently
tens of thousands
of independent businesses shut
down for good
entire sectors of the economy,
wiped off the map.
That is a lot of people out of
work.
So where are they?
And why does the federal
government tell us? The
unemployment rate is down
well heres, the simple answer:
the official unemployment
numbers out of Washington dont
count unemployed people who have
stopped looking for jobs,
and there are a lot of those
last month alone- another
half million working age
Americans who want a job quit
trying to find a job.
That is not surprising.
There are ten million fewer jobs
available in this country than
there were in February.
That is when politicians decided
to destroy countless small
businesses in the name of
slowing the spread,
as a result of that. According
to the Labor Department, from a
long term, unemployment has hit
record levels.
Last month, three hundred and eighty five thousand more
Americans reported being
unemployed for longer than twenty seven
weeks
since September. That number has
increased by more than
one point: five million.
So what is our governments
solution to the disaster they
created?
Well, more money from the
Federal Reserve
Money printed out of nowhere and
backed by nothing
trillions of new dollars spent
to fix a problem they created
and four on the way. Soon
now keep in mind. This is
stimulus, money designed to help
those hurt by the lockdowns and
in many cases it did help and
it will help.
But in many other cases the
money has gone to people with
the right political opinion.
Voter registration, nonprofit, run
by the Reverend Raphael Warnock.
The left wing preacher now
running for Senate in Georgia,
raked in four hundred and eighty two thousand dollars in coronavirus
bailout money.
How did he do that?
Dont? Ask
a firm that happens to be
coowned by Ilhan Omars husband
got half a million dollars.
Plant parenthood got
eighty dollars million more abortions for
everyone.
A local opera got twenty five dollars million,
then laid off employees. Anyway.
Last week we spoke to a man
called Dave. Morris
Morris owns a restaurant in the
midwest.
He could have used some help.
The government shutdown his
business and now he is going
under,
but unfortunately for Dave
Morris, he is not married to
Ilhan Omar.
He doesnt run abortion in black
neighborhoods or invite
Nancy Pelosi to the opera at the
Kennedy center.
So instead Dave Morris has been
forced to operate illegally just
to survive.
Here is what he told us.
I had some hope. They were
talking a two point: trillion
dollar stemless package to help
the american people,
and when I look at maybe
one hundred and twenty million families in this
country, one hundred and twenty million households-
and I figured you know I could
give everybody- maybe ten thousand dollars
every household. That is a lot
of money.
Instead, that money went all
different directions to
campaign donors. Special
interest groups may be couple
of museums and it didnt get
what was supposed to go.
I never got any of it and a
small business owners like me,
never got any of it.
Thats our money
thats our money.
Well, it is
but Heres the Good NEWS
pretty soon it will be worth
much.
The truth is you, cant keep
printing trillions of dollars
without getting serious
inflation.
Serious inflation is guaranteed
its a natural law.
There is no getting around it.
The people making these
decisions know that perfectly
well,
but they want inflation
thats, the secret.
They want inflation.
In fact, they need inflation.
Why?
Because theyve gotten rich from
debt
thats the real economy
leverage is their entire
business model.
So for the finance class,
inflation is the only way out of
all of that debt
when money is worthless. You owe
less
meanwhile, hard assets like
upscale real estate at Marthas
Vineyard will be worth more,
so inflation may crush you, but
it will make these people the
ones making the decisions
Richard
and everyone else will get the
shaft.
Who is everyone else?
Well, regular wage earners,
people living on fixed income
from every middle class retiree
in the country?
In fact, anyone who bothered to
live like a responsible person
and save money. All of them will
be in serious trouble when
inflation arrives,
thats, not speculation,
its coming
and anyone who is paying
attention knows its coming.
Oh, but thats. Just the
beginning,
Democrats retake the Senate in
January, they have committed to
passing something called the
Heroes act.
So who are these heroes? They
plan to help
not the thousands of small
business owners whose lives they
destroy? No.
Instead, the law will help rich
people in the northeast who were
hurt by the Trump Administration
administrations last tax bill.
The Heroes act would restore the
full state and local tax
deduction, reversing the twenty seventeen mob.
According to the broking
institution. Ninety six percent of the benefits
from this would go to
the top burners. Fifty percent would
benefit the top one percent. Twenty five percent would
benefit the top zero point. One percent.
In other words, it would benefit
democratic voters
more for the democratic base.
That is what this is,
and it wont stop there.
In October, the top Democrat in
the: U Dot S Senate, Chuck Schumer,
announced to support this idea.
We believe that
President Biden, if he becomes
president, could eliminate
student loan debt without
Congress with flip of the pen
that he has in power.
We are proposing the first
fifty thousand dollars of everyones total debt
is automatically eliminated.
So student debt is
a huge problem.
The lack of benefit from going
to a four year college is an
even bigger problem.
We pointed that out many times
on this show,
but consider this idea
who is helped by what
Chuck Schumer just said.
Well its great news for people
who got pointless masters degree
in gender oppression,
their slate will be wiped clean
by Chuck, Schumer and magic of
the Federal Reserve.
They will be free to move
forward on that coveted Phd in
transgender equity studies.
But what about everybody else?
What about small business owners,
who spend say fifty thousand dollars trying
to keep their employees on
payroll over the past nine
months?
Will chuck Schumer wipe their
debt to clean?
How about people with car loans
or burdensome mortgages or
anyone who is helping to pay for
their daughters wedding?
What about their debt?
Sorry, they are out of luck,
unlike the education
establishment, people like that
are not big democratic donors.
According to one analysis,
writing off student debt in the
way that Schumer proposes would
disproportionately help the most
privileged in America.
I dot e democratic voters,
but you already knew that
here is another idea:
why not make the people who
benefited the most from the
lockdown, the people who
encouraged them from day one
pay for the effects of those
markdowns?
Why wouldnt you assess? I dont
know Amazon and Apple and
Goldman Sachs and Google and
Netflix and Walmart all the big
winners in this pandemic. Why
wouldnt you assess them a
one time covid fee, take it out
of their record profit and make
them pay for the next bailout.
Why are you paying for it?
Jeff Bezos, for example, is now
the richest man in the history
of the world.
Maybe he can share the load in a
meaningful way.
He is not sharing it with his
employees
and why we are at it. Why not
make Harvard and Yale and
Stanford and Princeton use their
endowments to pay off some of
the student debt they caused.
There is no reason ordinary
taxpayers should be on the hook
for their spending.
Ordinary taxpayers have suffered
enough.
Here is a bottom line.
The rich are getting richer.
Everyone else is getting poorer.
That is not a talking point,
its true
and measurable.
Why is it a problem?
Because if it continues, we are
going to wind up with even more
volatile society in which
everybody hates each other
and is consumed by MB
and along the way capitalism
itself will be discredited, and
you dont want that
its already happening.
There are already a lot of
socialists around the scum. Have
you noticed that?
Why is that
its? Because the people in
charge of our economy are
discrediting our system?
They are giving capitalism a bad
name,
because what they are
participating in is not a market
economy, a free open market
economy,
its a closed game run for
their own benefit and their
benefit alone
long term. This is a disaster
for all of us and not even so
far in the future.
In four years, for example,
Sandy Cortez will be eligible to
run for president,
so you may laugh at Sandy
Cortez and you should.
She is a vacuous idiot, not the
rich girl Narcissus with an
overheated twitter account,
but that doesnt mean she could
and win.
Transcript generated on 2020-12-16.