Latest / Chuck Douglas / The Economy, Stupid!

Transcript

The Economy, Stupid! · Chuck Douglas

• 0:00
  Originating from the iHeartMedia megaplex in Columbus, Ohio, the studios of six'
• 0:04
  ten WTVN. This is the Chuck Douglas Power Our Podcast. I guess it's
• 0:14
  the realtor in me that is just kind of fuming right now. I've got
• 0:17
  a new housing program coming out in January that's supposed to help first time home
• 0:23
  buyers in the state of Ohio, and I just got to reflect, and
• 0:26
  you know, all these programs are their crutches, their stupid stuff. One
• 0:31
  of the reasons we are having this problem is because a bunch of people who
• 0:35
  know what they're doing don't know what they're doing. That includes the Federal Reserve
• 0:39
  who continues to hold the line on interest rates. They thought what they were
• 0:43
  doing was controlling inflation. What they were doing was controlling capitalism, is what
• 0:47
  they were doing, because the market will bear what the market will bear,
• 0:50
  whether we're talking about a house or the car prices, or the wages,
• 0:54
  or the grocery or the gasoline bill, whatever the market will bear with the
• 0:59
  market will bear. But they thought, you know, things are going up,
• 1:02
  So what we're going to do is we're gonna raise these interest rates these
• 1:04
  basis points rates, which affect everything else, your credit cards, your mortgage,
• 1:07
  and so forth. They said, we're going to control the climb of
• 1:12
  prices by raising these basis points. Sounds on the surface like okay, well
• 1:18
  maybe that makes sense. But here's the butt, a big butt. We
• 1:21
  got a big butt here. When the rates come down, what do you
• 1:26
  think happens? What do you think happens. Let's say the Fed decides they're
• 1:32
  going to drop the basis points half a point. Mortgage rates go, oh
• 1:36
  yeah, let's let's drop a little bit. Get more people interested. So
• 1:40
  now you've got a few more people interested in buying homes. The trouble is,
• 1:44
  there's really no homes here in Central O how to buy. The inventory
• 1:47
  is ridiculously low, and those that are out there are generally overpriced because you
• 1:53
  have frenzied sellers that are coming out of a ridiculously hot market and they think
• 1:57
  the house is worth this because other houses are sold for them, so they're
• 2:00
  going to list there. No, no, that's not the way it goes,
• 2:04
  but that's what they think. So the interest rates come down a little
• 2:07
  bit more, which means mortgage rates come down a little bit more, and
• 2:09
  there's still nothing to buy. So what happens The prices of the homes go
• 2:15
  up. They're already inflated. But when you only got maybe seven eight nine
• 2:21
  hundred houses on the active market, when it comes to single family homes in
• 2:24
  Franklin County and you've got a metro of over a million, you've got Google,
• 2:28
  and you've got Microsoft, and you've got Intel coming in all this expected
• 2:32
  growth and there's no houses to buy, the prices go up because with lower
• 2:38
  interest rates, a higher priced house has an affordable mortgage payment. And that's
• 2:43
  what it's all about. The house can cost four hundred and twenty seven trillion
• 2:46
  dollars. If you can do it for under fifteen hundred dollars a month,
• 2:49
  people will sign on the bottom line. So by reducing the interest rates,
• 2:53
  they will cause inflation. They will make it more expensive to buy everything.
• 3:02
  Because everything, in one way, shape or form, is connected to consumer
• 3:07
  interest rates, whether you are paying them, or the person who owns your
• 3:12
  grocery store or whatever is paying. Somebody's paying interest rates somewhere, so it
• 3:17
  affects everyone no matter what you're doing. By controlling, they are sending us
• 3:23
  out of control. I was mentioning on one of the editions of The Power
• 3:27
  Hour on six to ten double the UTV. And that you know the James
• 3:30
  Carville saying, which is started during the Bush Clinton campaign. Uh, and
• 3:35
  George W. Bush's dad was president and Bill Clinton's running against him, and
• 3:40
  somebody in the audience had a sign up that said, it's the economy stupid.
• 3:45
  Well Carville one of my favorite political pundits, just because the man's a
• 3:49
  walking comic strip. Carville got a hold of this and he ran with it.
• 3:53
  It became his cats. It's the economy stupid, and it still is
• 4:00
  in twenty twenty four. As you are making your decisions, think about that.
• 4:05
  Maybe one candidate doesn't thrill you. You wouldn't have them over to the
• 4:10
  house for a barbecue. Maybe they say things in ways that you don't like,
• 4:14
  or even say things that you don't like. Maybe they tweet things that
• 4:16
  you don't like. But think about their time in office. Did you have
• 4:23
  more money in the bank, did your dollar go farther? Did you buy
• 4:28
  a new car? Did you buy a new house? Where interest rates something
• 4:31
  you could work with? Think about it. I'm not telling you how to
• 4:36
  vote, I'm just saying, you know what you've got to get past all
• 4:39
  this personality stuff and get to the basis of what is the presidency of the
• 4:44
  United States. The president is a figurehead. The president is a cheerleader.
• 4:47
  The president is a catalyst, not a dictator, but a popular president with
• 4:53
  the people behind them, can accomplish great things by making subordinates do what they
• 4:59
  want them to do, because the subordinates know it's in their best interest to
• 5:02
  cooperate, so they do. We had it for four years, we gave
• 5:08
  away the second term. I'm hoping that America sees its way to voting for
• 5:15
  someone who whether it's whether it's Donald Trump or not, someone who understands the
• 5:20
  capitalist market. The American economy is part of our freedom. Freedom means uncontrolled,
• 5:29
  unrestrained. Our economic system needs to be just as free as the citizens
• 5:35
  that enjoy it. Otherwise it's not what it's supposed to be. Not that
• 5:42
  simple, but not that complicated either. Please make sure you are listening to
• 5:48
  the show The Power Hour six pm Eastern Time on six to ten double the
• 5:53
  UTVN in Columbus, Ohio over the airwaves. If you're not in Columbus,
• 5:56
  listen on the iHeartMedia platform on Facebook. I am chucked Douglas or the official
• 6:00
  Chuck Douglas Radio Show fan page All Good Americans click the like button there.
• 6:05
  On Twitter, It's Chuck d Talker Chuck Douglas on Instagram as well, and
• 6:10
  if you still like to, email Chuck Douglas at iHeartMedia dot com