1:45:18 We have a lot of interesting news this week. We can start with the fact that today different economic reports came out, including one about GDP. It said, hey, GDP is up 2.6%. That means we're doing great, right? Well, not if you really dig into the data. Core durable goods are not up to the degree they need to. In fact, we're continuing a decline of core durable good orders that look like the lockdown, the depths of the lockdown. That's how bad that economic information is. Inflation continues to just continue to run rampant. And much of the economic quote unquote gain was due primarily to Europe's debacle of its self-imposed sanctions and its economic war on Russia being a complete disaster. I mean, Europe is such a basket case that they keep going through different leaders. The Zelensky curse continues to rampage throughout Europe as now, of course, the UK has its third prime minister in about three months.
1:46:15 You know, the Queen dies and all of a sudden they get they got to keep getting new prime ministers. And so the the new prime minister, if you don't know, is while he is pro Brexit, which is good, he's otherwise a classic caricature, almost of a globalist feature in terms of his approach to politics and public policy. And thus he was early on the air with talking to Joe Biden, who, of course, mispronounced his name when he discussed who he was. And so what you have is Europe is doing so badly that the US has benefited from that slightly. Whether that's a long term strategy to success is another matter in terms of the U. S. economy in terms of the strength of the dollar. In terms of how the dollar is strong or weak at home or abroad. But that basically even that positive economic information came with a real big asterisk and a real long footnote. Which is that the economy is not quite what it should be. Other evidence of this? Mortgage rates are now over 7%.
1:47:13 To give people an idea, that is the highest rate in almost a quarter century. So mortgage rates are so high that when you combine it with the housing price increases over the past, since Donald Trump left office, the net effect is that the ordinary person to buy the exact same house they could have bought in 2020, to buy that same house today in 2022, requires more than double the monthly premium amount. Think about that, folks. If you want the core of an American dream, and what has that been for a long time in America? For the ordinary person, that means to own their own home.
1:47:54 My own mom's proudest moment, or one of her most proudest moments, as she told me on her deathbed, in fact, was the fact that she got to own her own home one day. So that that's a core aspect of the American dream, the idea that you own your own home, that it's your property, that it's your little piece of the dream, of the world. And that's being taken away from people, and it's being taken away from especially middle-class Americans and younger generations en masse. They're not able to do so because of the spiking mortgage rates, primarily, as well as what got an out of control housing bubble fueled by a range of Federal Reserve policies. And now the Federal Reserve is basically busting the housing market and making it increasingly only accessible to the hedge funds of the world. And that's where you see people like BlackRock and institutions like BlackRock, deeply embedded, by the way, in China,
1:48:49 in its economic investment policies, deeply connected and affiliated with the World Economic Forum, is one of the biggest purchasers of domestic residential real estate in the United States of America. So what's happening is we're continuing to see this massive wealth shift. that began during the pandemic because of the policies the West adopted, especially the centralized banks, but not only the centralized banks, during the pandemic, which was to create an inflationary economy that would gut the earnings capacity of ordinary Americans. Wages continue to be growing way less than the cost of ordinary and core consumer goods.
1:49:31 And what is that? I mean, what you're really looking at is how much more expensive is bacon, is milk, is eggs, is gas, is rent, is utilities. Those are the core things that the ordinary person spends money on. How much more expensive yachts are ain't a big deal to most folks. How much more expensive fancy cars are or high-end clothes or luxury brands or your new Gucci purse. That ain't good the concern of the ordinary American. What is, is how much does it cost for me to buy baby formula for my baby? How much does it cost for me to buy basic food and grocery stuffs to feed my family? How much does it cost to simply house my family?
1:50:11 How much does it cost to simply transport my kids to school or myself to work? How much does it cost to be able to have effective housing in the sense of heat and energy and electricity and those costs? Those costs have gone up way more than the rate that is being tracked by the official government numbers. One of the best places you can go is you can go to a site called ShadowStats. And at ShadowStats, they use the exact same metrics that we used to use. They're not coming up with their own numbers. They're using the exact numbers the government used to use. So they're taking the existing data and applying the formula we used to use in the 40s and in the 50s and the 60s and the 70s. And when you look at ShadowStats, you see even more disturbing information.
1:50:58 You see that inflation is actually at 1970s levels. You see that various core cost of goods is at some cases the highest it's been in more than half a century. This is where the economy is going. And because of that, What's happening in the political betting markets? What's happening in the elections that are upcoming this, just a Tuesday or so away from us, November 8th? Well, they're starting to recognize, even the media is starting to concede what some of us have been saying was always gonna happen, thanks in part to the important, essential, critical infrastructure that InfoWars provides and independent information reaching the American people.
1:51:41 And that is that the elections are going to be a Democratic bloodbath. Democrats are going to get crushed all of it after they got to see Uncle Festerman in Pennsylvania live in a debate that was manipulated for his benefit. And he still made Uncle Fester look like a beacon of intellectual capacity, actually makes Joe Biden look competent and capable. That's how bad Uncle Festerman is in Pennsylvania. All of a sudden now Dr. Oz has a superb chance to win there. So what you're gonna see is a complete sweep. When we come back, we're gonna be talking about the elections. We're gonna be talking about the attempt of corporate canceling of Kanye West. We're gonna be talking about that and a range of other issues, including what the Elon Musk purchase of Twitter may mean for free speech in America. So bring, come back to us right after the break. Welcome back.