$200B War Bill? Rising Oil, Inflation & the “America First” Debate
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a $200 billion bill, oil and inflation. So the big weekend show on Fox News. Yeah, they are, again, they’re bringing their people on and their people, it’s obviously Republican senators. They brought on Senator Jim Banks from Indiana. talking about the request for 200,
billion dollars to fund the Iran war. Well, Senator Jim banks said that that $200 billion. It’s good for us. Yeah, I my grandmother used to say it’s good for what else? Yeah, what else? Yeah. Yeah. 200 billion. It’s good for it’s America first. Some America first people. Okay. Then he went on to just
make shit up. He said it was America first because it’s going to onshore munitions manufacture. We’ve got to replenish our munitions, but we’re going to stop buying our munitions, bombs and missiles from China.
lying lying lying lying lying lying lying liars there is very strict prohibitions against the United States acquiring items on the United States munitions list from China but that never mind okay well you know his heart is in the right place he’s looking out for Trump yes so he’s got to say these things
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Liar. Liar, liar pants on fire $200 billion. I did a podcast on Friday, again, gave you just putting it into proportion how much money that actually is. Yeah, you know what, I’m gonna do a little quick review. Okay. Again, we’re over $39 billion, trillion dollars, $39 trillion in debt.
Past five months. We’ve added a trillion. Let’s go back to HW Bush He added 1.3 trillion dollars to that Bill Clinton in his first term 1.1 trillion dollars his second term. Good job bill only 400 billion George W Bush first term 1.9 trillion George W Bush second term 3 trillion Barack Obama first term 5.8 trillion
Barack second term, 3.5 trillion. Trump’s first term, 7.8 trillion. Biden, 8.5 trillion. So far Trump, five months, 2.8 trillion.
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almost doubled our national debt since 2018.
yet it’s America. They’re telling you it is America first. No, no, no, no, no, no, no. by the way, Jim Banks, Jim Banks’ biggest donor is APAC, by the way.
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Just starting out there. Just saying a fact. I’m not even commenting on it. Okay. But it’ll definitely make me an anti-Semite for saying a fact. His biggest contributor is APEC. Do with that what you will. Yeah. 200 billion. America first. The price increases we’ve seen since the start of the Iran war. Heating oil up 80%.
European natural gas up 85 % Brent up 54. And again, these numbers are changing right now fairly quickly, you know, across the board, across the board.
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Peter Schiff, I completely had debates with him back in the day when the Fox News was actually legit. I had an actual debate with Peter Schiff and we were talking about various different alternatives investment. This is right around the financial crisis and he was obviously he’s always all gold all the time. And I was like, no, no, yeah, you got to some gold. But I was also, again, this is maybe 2008, 2009, I was talking.
uranium and rare earth minerals and all those things that gee whiz they did pretty well anyway neither neither here nor there he makes some comments from time to time that can make a hell of a lot of sense okay his answer you know his his remedies to everything I don’t necessarily agree with but anyway he put out rising oil prices won’t cause higher inflation more expensive oil means Americans will have less
money to spend on other things. Reduced spending will cause a recession, which will result in a larger budget deficit, rate cuts and quantitative easing, which will then cause higher inflation. Yes. He’s right. He’s right. It’s a monetary issue. It always will be. And like I’ve said countless times, it’s a tax on you.
So you can decide for yourself, is $200 billion supplemental spending, is that America first?
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You decide. Watchdog on wallstreet.com.
