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Fed Study Links Illegal Immigration to Much Higher Housing Costs · 3 Martini Lunch – Political Humor & Commentary

0:03
Speaker 1: Welcome to the Three Martini Lunch.
0:05
Speaker 2: Grab a stool next to Greg Corumbus of Radio America
0:07
Speaker 2: and Jim Garritty of National Review.
0:10
Speaker 3: Free Martini's coming up. So glad you're with us for
0:14
Speaker 3: the Wednesday edition of The Three Martini Lunch. Good to
0:17
Speaker 3: be back. Thanks to Craig Collins for filling in for
0:19
Speaker 3: me for several days and Jim. You know, we were
0:22
Speaker 3: making our way back towards DC on Monday when the
0:25
Speaker 3: Platiner news came out, and I'm like, oh man, I'm
0:28
Speaker 3: gonna miss talking about that with Jim on Tuesday. And
0:30
Speaker 3: then I thought, you know, maybe I should take another
0:33
Speaker 3: week off, because if one week off means Platiners out,
0:35
Speaker 3: maybe another one means l say Ed or Tallaika or
0:38
Speaker 3: one of these other radicals we'll get out. But ultimately
0:41
Speaker 3: I said, no, I have to be back because I
0:44
Speaker 3: looked at what you guys talked about and I can't
0:46
Speaker 3: let this turn into a soccer podcast. So I had
0:48
Speaker 3: to return. Lots lots of drama on the field and off,
0:54
Speaker 3: but anyway, good to be back. Great vacation, and let's
0:57
Speaker 3: dive in with a little more grand Platiner. Obviously, Jim
1:00
Speaker 3: and Craig covered the new allegations and the fact that
1:03
Speaker 3: Plattner is, you know, taking time to reflect or whatever
1:06
Speaker 3: on the best path forward. Bernie Sanders has now joined
1:10
Speaker 3: the chorus for wanting to get him out, and Jim,
1:14
Speaker 3: you know, as you guys discussed, you know, the Democrats
1:18
Speaker 3: overlooked virtually every other allegation, and there's a pile of allegations,
1:22
Speaker 3: and so I'm sure Platner was a little bit surprised
1:26
Speaker 3: that every Democrat instantly, as soon as the political story
1:29
Speaker 3: came out, turned on him. It's almost like some sort
1:31
Speaker 3: of lightning warfare that he was simply unprepared for, kind
1:34
Speaker 3: of a blitzkrig type situation. And he's he's on his
1:38
Speaker 3: heels right now. But what happens next, of course, is
1:42
Speaker 3: very significant. I believe he has until Monday to voluntarily withdraw,
1:47
Speaker 3: and at that point the Democrats would have about two
1:49
Speaker 3: weeks to decide who would be the next person to
1:52
Speaker 3: put on the ballot, and they've already decided they're going
1:53
Speaker 3: to try to rush some sort of mini convention if
1:56
Speaker 3: he gets out. But the longer he doesn't get out,
1:59
Speaker 3: the more people wonder if he actually is getting out,
2:02
Speaker 3: and The conventional wisdom is that he's trying to use
2:06
Speaker 3: that leverage to make sure that the next candidate is
2:08
Speaker 3: someone of his ilk, and other people are understanding that.
2:13
Speaker 3: Other people are not understanding that. One is Chris Solizza,
2:16
Speaker 3: who tweeted out yesterday Platner trying to negotiate who will
2:19
Speaker 3: replace him, suggests he has a deep misunderstanding of his
2:21
Speaker 3: current situation. You have zero leverage, dude. Then Sean trend
2:26
Speaker 3: Over at Real Clear Politics says, I don't know why
2:27
Speaker 3: so many people are having a hard time understanding this.
2:30
Speaker 3: He has all the leverage. They want, a blank ballot slot,
2:32
Speaker 3: they can film. There's nothing they can really give him
2:34
Speaker 3: in return, because it's a rape charge. It's not like
2:36
Speaker 3: he can run for anything ever again. And so I guess, Jim,
2:40
Speaker 3: he's got this thing and it's bleeping golden, and he's
2:42
Speaker 3: going to do whatever he wants to do, to quote
2:45
Speaker 3: Rob Blogoyevitch, to make sure that either gets the best
2:48
Speaker 3: deal or ends up staying in. What do you thinks
2:49
Speaker 3: can happen here?
2:50
Speaker 4: Well, first of all, Greg, you know, I suspect that
2:52
Speaker 4: right now Platner feels like he has been stepping back
2:57
Speaker 4: to use to continue our metaphors. In the last twenty
3:01
Speaker 4: four hours. What is really thirty six hours, I guess
3:03
Speaker 4: has been really fascinating to watch is two main reactions
3:07
Speaker 4: from people who had supported him up until the beginning
3:10
Speaker 4: of this week. One was yet another round of ah,
3:14
Speaker 4: how could we be so fooled, you know, and patting
3:17
Speaker 4: themselves on the back for I backed him after the
3:20
Speaker 4: first six major scandals, but on the seventh one, I
3:22
Speaker 4: drew a line and I said, you know, and people
3:25
Speaker 4: who were pretty darn vocal cheerleaders the entire time insisting
3:29
Speaker 4: they were quote extremely Platin or skeptical unquote, and if
3:34
Speaker 4: anybody wants to go look up who said that.
3:36
Speaker 1: You know.
3:36
Speaker 4: I don't want to drag out all of my personal
3:37
Speaker 4: drama into this podcast, but just a whole bunch of
3:40
Speaker 4: people who were perfectly fine with Platin until seventy two
3:43
Speaker 4: hours ago are now insisting, Oh, I was never that
3:46
Speaker 4: into the guy.
3:46
Speaker 1: Oh I barely know what barely who'd never heard of him?
3:50
Speaker 1: You know.
3:52
Speaker 4: I think of the two trends, assessment is much closer
3:55
Speaker 4: to Solissa because these lissas is because under the law,
3:59
Speaker 4: there's really nothing that the main Democratic Party can do
4:02
Speaker 4: to get him off the ballot if he does not
4:04
Speaker 4: withdraw from the race. And you know, I looked up
4:07
Speaker 4: the law and it was kind of striking that because
4:10
Speaker 4: my colleague feel Klein had said, yeah, he's got no
4:13
Speaker 4: like the state party doesn't you.
4:14
Speaker 1: Know, why should he leave? Right? What what does he
4:16
Speaker 1: get by leaving? If he leaves the.
4:18
Speaker 4: Race, He's saying, all the allegations gets to me are
4:20
Speaker 4: false and are made up, But I'm quitting the race anyway.
4:23
Speaker 4: And nobody's gonna believe him. Everybody's gonna say, yes, we
4:25
Speaker 4: think you're guilty. We're pretty having not one but two
4:28
Speaker 4: ex's accused you of either physical assault or sexual assault.
4:32
Speaker 4: And there was an even more sordid accusation from Lindsay
4:35
Speaker 4: Fifeld in the Washington Post yesterday. Probably too gross for
4:38
Speaker 4: this podcast, but you get the like, you know, so
4:40
Speaker 4: under the law, the main Democratic Party can replace him
4:43
Speaker 4: as the Senate nominee if he a withdraws or b dies. Now,
4:49
Speaker 4: if you are a staffer of Platiner named von Stauffenberg,
4:54
Speaker 4: do not let him bring a briefcase to the meeting. Freddy,
4:57
Speaker 4: if you who saw a valkyrie like that's really obvious, right,
5:01
Speaker 4: that's one of those things, like there's one other plot,
5:03
Speaker 4: there's one other way to make sure he's not the nominee.
5:07
Speaker 4: I'm not saying, I'm not encouraging anyone to do that.
5:09
Speaker 4: I'm just saying I figure the temptation is out there.
5:12
Speaker 4: To remain the nominee. He has to do nothing. He
5:15
Speaker 4: doesn't have to like, do what you like. It's there
5:17
Speaker 4: that the party has to convince it. And so here's
5:19
Speaker 4: the thing I said. If he resigns, everybody thinks he's
5:22
Speaker 4: guilty of this. If he stays in, if he keeps denying,
5:25
Speaker 4: if he's officially the Democratic candidate the Democratic Party of Maine,
5:29
Speaker 4: they could try to nominate somebody else in a right
5:31
Speaker 4: in bid. Lisa Murkowski can pull that off. But otherwise
5:35
Speaker 4: you figure that's going to be extremely difficult, and it
5:37
Speaker 4: makes them extremely unlikely to beat Susan Collins. I think
5:40
Speaker 4: Susan Collins now about his safe a bet for reelection
5:44
Speaker 4: as you can find in these circumstances. She's going to
5:46
Speaker 4: crack him like a main lobster. But if he stays
5:49
Speaker 4: in and he you know, first of all, a certain
5:51
Speaker 4: number of Democrats will resign themselves to voting for him.
5:54
Speaker 4: It's a binary choice. We have to stop Trump. We
5:57
Speaker 4: need Democrats in charge of it. You could just see
6:00
Speaker 4: all the mental gymnastics Democrats will will go through in
6:04
Speaker 4: order to justify voting for him, even though they've denounced
6:07
Speaker 4: him and called Brittany Cohen has just said, does nobody
6:11
Speaker 4: remember Ralph Northam and how everybody in the party said
6:14
Speaker 4: he had to resign and he just didn't. Roy Moore
6:18
Speaker 4: had all creepy guy chasing the teenage girls at the
6:21
Speaker 4: shopping mall, stayed in the race, right, Anthony Wiener the
6:25
Speaker 4: second time when he was running for the local pacition,
6:27
Speaker 4: Like these guys like shamelessness is their their superpower?
6:31
Speaker 1: Right? Like? Like what are they like?
6:33
Speaker 4: They have no private sector gig to go back to.
6:36
Speaker 4: They have no teaching gig at Harvard, no book deal,
6:40
Speaker 4: no cable news type gig.
6:43
Speaker 5: You know.
6:43
Speaker 4: May yeah, if Plattner stays in, he'll lose, but then
6:46
Speaker 4: he'll probably able to do podcasts and say, you know,
6:49
Speaker 4: I was gonna win. And then the establishment and the
6:52
Speaker 4: oligarchs and Apek got together and they got everybody who
6:55
Speaker 4: ever knew me to make false accusations against me. And
6:58
Speaker 4: there are some people who will want to leave that.
7:01
Speaker 4: So at this point, I, you know, like with each
7:04
Speaker 4: passing hour that he does not drop out, I feel
7:07
Speaker 4: like it makes it more likely that he doesn't drop
7:09
Speaker 4: out and that he decides to think, you know, like
7:11
Speaker 4: access Hollywood tape. This thing will be forgotten in seventy
7:13
Speaker 4: two hours. Spoiler alert, it will not be forgotten in
7:15
Speaker 4: seventy two hours. But this does not seem like a
7:18
Speaker 4: guy who has an abundance of cost benefit rational analysis
7:22
Speaker 4: within him. So the idea that he can talk himself
7:25
Speaker 4: into I can survive this and come back. You know,
7:28
Speaker 4: why wouldn't he once he got to what does he gain?
7:30
Speaker 4: But dropping out and making life easier for main Democrats
7:32
Speaker 4: especially is nothing.
7:33
Speaker 3: Nothing, He's got nothing to lose unless he's genuine about
7:37
Speaker 3: the most important thing being that someone other than Susan
7:39
Speaker 3: Collins holds that Senate seat. And right now I'm not
7:42
Speaker 3: sure or that it's ever been his top priority.
7:45
Speaker 4: But who could have possibly predicted that, after all this,
7:49
Speaker 4: Graham Plattner would screw over Democrats and not be a
7:52
Speaker 4: good person. If only there been some signed if only
7:54
Speaker 4: there been some red flag to warn them.
7:56
Speaker 3: You know, I know it's funny that she said, they'll
7:59
Speaker 3: come up with some sort of mental gymnastics to justify
8:01
Speaker 3: supporting him once again after abandoning him briefly, and like
8:05
Speaker 3: it's not hard to imagine because they've done it on
8:06
Speaker 3: the previous dozen allegations or revelations, and so they'll figure
8:11
Speaker 3: out a way to do it again, just because power
8:12
Speaker 3: is all they care about. But one other little twist
8:15
Speaker 3: here we're going to throw on here Arizona Senator Ruben Diego.
8:18
Speaker 3: The last time we talked about Ruben Diego, he was,
8:21
Speaker 3: you know, the best friend of Eric Swalwell and shocked, shocked,
8:24
Speaker 3: had no idea that Eric Swalwell was this kind of
8:27
Speaker 3: serial predator. But he was also on a podcast not
8:31
Speaker 3: that long ago with the Bulwark, and here's what he
8:34
Speaker 3: had to say to vouch for Grant Platnir.
8:36
Speaker 2: This guy is an authentic man, you know, he's not
8:40
Speaker 2: anti Semitic, you know. And more importantly, you know, not
8:44
Speaker 2: more importantly, but just as important is that he's going
8:46
Speaker 2: to win this election. And we need to win elections.
8:49
Speaker 2: We cannot go another four or five six years, you know,
8:53
Speaker 2: trying to get the Senate back, like we need to
8:56
Speaker 2: consistently win because whoever's going to be president twenty twenty eight,
8:59
Speaker 2: we need to have and them the House and the Senate.
9:02
Speaker 3: And the and so, you know, Jim, it's all about
9:04
Speaker 3: the power ultimately. But I love that well, he's authentic,
9:07
Speaker 3: He's authentically awful. Does that make a bag yeah, any better?
9:11
Speaker 3: And you pointed out how the Bullwark has been carrying
9:13
Speaker 3: water for him to this point. So, I mean, just
9:17
Speaker 3: Rubon Diego is certainly not someone who is really a
9:21
Speaker 3: reliable person who can vouch for another person's character after
9:24
Speaker 3: these two.
9:24
Speaker 4: Cases, Greg, I'm sorry your audio cut out. Which publication
9:27
Speaker 4: was he was that podcast on Bulwark the Bullwark?
9:30
Speaker 1: Okay?
9:31
Speaker 4: So, and would you characterize those remarks from either Ruben
9:34
Speaker 4: Diego or host Tim Miller? Would you characterize that as
9:36
Speaker 4: being extremely platin or skeptical?
9:38
Speaker 1: No, really, he doesn't.
9:40
Speaker 4: He does because I've been reliably assured that the Bulwark was,
9:45
Speaker 4: you know, consistently platin or skeptical since the beginning. Listener
9:49
Speaker 4: that you know that that whole appearance of but one
9:52
Speaker 4: of the signs that you're not platinor skepticals. You have
9:54
Speaker 4: Ruben Diego on your podcast, not not everybody's as selective
9:58
Speaker 4: in their guests as we are. But observe that that's interesting,
10:01
Speaker 4: interesting choice there, because I was assured that the bulwark
10:04
Speaker 4: had been very skeptical since the very beginning and all
10:07
Speaker 4: that stuff. Also, if you're a man and Ruben Diego
10:11
Speaker 4: is your friend, lose his number, because the last thing
10:16
Speaker 4: you want is Ruben Diego coming out and say this
10:18
Speaker 4: is a man who I trust and who is an
10:20
Speaker 4: excellent man of excellent character. This is like Hugh Hefner
10:23
Speaker 4: saying this guy is as pure as the driven snow.
10:26
Speaker 4: You just don't want that endorsement. If anything, promise Diego
10:31
Speaker 4: favors so that he doesn't endorse you, because that's automatically
10:34
Speaker 4: a sign of suspicion.
10:35
Speaker 1: At this point.
10:36
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10:39
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10:41
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10:58
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11:00
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11:03
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11:08
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11:19
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11:23
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11:26
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11:29
Speaker 4: I couldn't excuse it. Greg, I guess I feel comfortable
11:32
Speaker 4: talk about this on the podcast. I've been having a
11:34
Speaker 4: lot of headaches lately, and my doctor finally told me
11:37
Speaker 4: it's because every time I listen to people defending platin
11:39
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11:41
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11:43
Speaker 4: But let's just say you don't have an obvious cause
11:46
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11:48
Speaker 1: Well.
11:48
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12:00
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12:01
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12:13
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12:24
Speaker 1: All right, Jim.
12:25
Speaker 3: Let's move to Iran and President Trump is in Turkey
12:29
Speaker 3: and he's meeting with NATO members there, and obviously of
12:32
Speaker 3: the last day or so, and really even before that,
12:35
Speaker 3: Iran's been firing on commercial ships again in the Persian
12:38
Speaker 3: golf Straits of horror moves the US responding. I think
12:41
Speaker 3: yesterday's response is probably more significant than anything we've seen
12:44
Speaker 3: in terms of this back and forth since the signing
12:46
Speaker 3: of the Memorandum of Understanding. Trump obviously fed up with
12:51
Speaker 3: Iran consistently violating the terms of the Memorandum of understanding.
12:56
Speaker 3: He's not only firing back, but he's also basically stop
13:00
Speaker 3: their ability to sell oil, at least for the time being.
13:03
Speaker 3: But he also thinks the MoU is mostly dead.
13:07
Speaker 4: Fire over?
13:08
Speaker 1: Is he fire done? Is the Emou dead?
13:12
Speaker 5: It's a very interesting question to me. I think it's over.
13:17
Speaker 5: I don't want to deal with him any with there's scum.
13:19
Speaker 5: You know what scum is. There's scum, there's sick people.
13:23
Speaker 5: They're lit by sick people, and they're vicious, violent people,
13:28
Speaker 5: and if they had a nuclear weapon, they'd use it.
13:30
Speaker 5: As far as I'm concerned, it's over. I'll speak to
13:33
Speaker 5: our negotiators. They want to negotiate. They're good people, Steve
13:36
Speaker 5: wood Cuff, Jared Kusher, but they have to come back
13:40
Speaker 5: to me. As far as I'm concerned, it's just a
13:42
Speaker 5: waste of time dealing with them. They're liars. We make
13:46
Speaker 5: a deal, and if I make a deal with him,
13:48
Speaker 5: we have a deal, and he goes out, he talks,
13:51
Speaker 5: We make a deal, everyone's agreed, no nuclear weapon. We
13:54
Speaker 5: make a deal. They go outside, talk to the press.
13:56
Speaker 5: They say, we never even talked about it. There's something
13:59
Speaker 5: wrong with them. Cuckoo far as I'm concerned, you sover.
14:04
Speaker 3: They're cuckoo. But they're also radical. Islamis and that's the
14:06
Speaker 3: problem there. So, Jim, do you think it is actually dead?
14:11
Speaker 3: I know how much regard you have for the Memorandum
14:13
Speaker 3: of Understanding, so I'm sure you'd be horrified if it
14:16
Speaker 3: did not come to fruition here. But of course the
14:18
Speaker 3: question after that is then what, So where do you
14:21
Speaker 3: see this?
14:22
Speaker 4: Yeah, I've heard the argument that despite this latest outburst,
14:25
Speaker 4: the Memorandum of hers Understanding is not dead. It is
14:28
Speaker 4: merely pining for the fjords. Now it's not pining. It
14:32
Speaker 4: has passed on. It is no more. It has ceased
14:35
Speaker 4: to be. It has expired and gone to meet its maker. Stiff,
14:39
Speaker 4: bereft of life, rests in peace. If you nailed it
14:42
Speaker 4: to the perch, it'd be pushing up the daisies. Its
14:44
Speaker 4: metabolic processes are now history. Off the twig, kick the bucket,
14:48
Speaker 4: shoveled up it's mortal coil, run down the curtain and
14:51
Speaker 4: join the bleeding choir invisible. This is an ex memorandum
14:55
Speaker 4: of understanding. Credit to Monty Python for the parrots. So,
15:00
Speaker 4: on the one hand, good this does leave me wondering
15:03
Speaker 4: what the point of it all was. From the very beginning,
15:06
Speaker 4: from the beginning of the conflict. I've a pointed out
15:09
Speaker 4: time and time again that the Iranian regime has broken
15:12
Speaker 4: every treaty and every deal it's ever signed. So they're
15:16
Speaker 4: just this inherently duplicitous, untrustworthy regime. And you know, putting
15:22
Speaker 4: aside the fact that I'm not a huge fan of
15:23
Speaker 4: Steve would CoV, you know, I'm a slightly higher opinion
15:26
Speaker 4: of Jared Kushner. But these guys did not seem like
15:29
Speaker 4: they like. The whole concept was, why would you assume
15:32
Speaker 4: a regime that always breaks its word is going to
15:35
Speaker 4: keep its word in this circumstance, particularly when it appears,
15:39
Speaker 4: you know, for obvious reasons gas prices, etc.
15:41
Speaker 1: Donald Trump does not.
15:41
Speaker 4: Want the war to continue, wants the war to be
15:44
Speaker 4: done with over in the rear view mirror, and to
15:47
Speaker 4: try to get you know, back to a more normal
15:49
Speaker 4: energy price.
15:50
Speaker 1: And economic environment.
15:52
Speaker 4: So on the one hand, I'm glad for this, I
15:53
Speaker 4: kind of wish we had not had the president not
15:55
Speaker 4: just touting this but also talk about how remember how
15:57
Speaker 4: rational the Mullas were, how there was so much better
16:00
Speaker 4: than the previous one. Somebody was saying earlier today on
16:02
Speaker 4: X like, oh, you know, we don't Trump all these exaggerates. Yeah, yeah,
16:04
Speaker 4: we know that Trump always exaggerates. And if you want
16:07
Speaker 4: to say, we have good reasons, you know, we understand
16:09
Speaker 4: the history, but we have reasons to think that these
16:11
Speaker 4: are good.
16:11
Speaker 1: Like, okay, fine, you.
16:12
Speaker 4: Know when Trump goes on and on about how rational
16:15
Speaker 4: and good and how much these you know, the Iranian
16:17
Speaker 4: leaders love their country and all that stuff, and then
16:18
Speaker 4: a few weeks letter he has to come out and say, oh,
16:20
Speaker 4: these guys are nuts.
16:21
Speaker 1: They they like. I think he just looks naive.
16:23
Speaker 4: I think he just looks, you know, like he's just
16:26
Speaker 4: in denial of the realities of the regimes. I don't
16:28
Speaker 4: think there is a way for a serious peaceful co
16:30
Speaker 4: existence between this regime and the United States or our
16:34
Speaker 4: allies or are you know, really the rest of the
16:36
Speaker 4: Middle East. They are who they say they are. They
16:39
Speaker 4: begin every day with death to America. There's no mutual coexistence,
16:43
Speaker 4: no mutual understanding to be reached there. So I think
16:47
Speaker 4: this means the conflict is back on now. How intensely
16:49
Speaker 4: the US wants to continue this is an open question,
16:52
Speaker 4: but I think you can genuinely we gave them, the
16:54
Speaker 4: Iranians by far the best deal they could ever conceivably
16:57
Speaker 4: ever hope for, and they still manage, they still kept
17:00
Speaker 4: shooting at ships in the Persian Gulf and going through
17:02
Speaker 4: the straight of four news. They're not interested in peace,
17:04
Speaker 4: so let's stop pursuing it with them. Let's recognize that
17:06
Speaker 4: there's no way to get oro on this other than
17:08
Speaker 4: all out conflict that leaves the regime no longer in power.
17:12
Speaker 4: We gave piece the best shot, and it did not work.
17:14
Speaker 4: I don't think I don't think there's many alternatives there.
17:17
Speaker 3: Well, we'll see if he amends his position here. But
17:20
Speaker 3: it's obviously very frustrated, and it certainly seems like this
17:24
Speaker 3: sixty days is not going well, and we may end
17:27
Speaker 3: up seeing this scrapped altogether and back to conflict, like
17:31
Speaker 3: you said, but time will tell. All right, in a moment,
17:34
Speaker 3: we'll talk about the cost, literally the cost in some
17:38
Speaker 3: ways of Joe Biden's border disaster. All right, Jim Onto
17:46
Speaker 3: are really a crazy martini, also a bad martini.
17:49
Speaker 1: Here?
17:49
Speaker 3: Just the news. John Solomon reporting here a new Federal
17:52
Speaker 3: Reserve Bank of Dallas working paper estimates the record surgeon
17:56
Speaker 3: Illegal immigration during the Biden administration boosted and employment while
18:01
Speaker 3: causing thirty percent of home price increases and twenty percent
18:04
Speaker 3: of rent increases. The paper combined immigration court records with
18:08
Speaker 3: government administrative data to create the first ever calculation of
18:12
Speaker 3: how a wave of seven million illegal immigrants from twenty
18:14
Speaker 3: twenty one through twenty twenty four affected local labor and
18:17
Speaker 3: housing markets. From early twenty one to early twenty four,
18:20
Speaker 3: the US experienced an unprecedented boom and unauthorized immigration, followed
18:24
Speaker 3: by a rapid slow down beginning in mid twenty twenty four.
18:28
Speaker 3: And this is the paper again we provide the first
18:30
Speaker 3: systematic empirical assessment of the labor and housing markets effect
18:34
Speaker 3: on this episode. The total weighted mean increase in housing
18:37
Speaker 3: prices and rents over this period were twenty two point
18:40
Speaker 3: four percent and twenty two point six percent, respectively. Putting
18:43
Speaker 3: these together for the average, they can explain approximately thirty
18:47
Speaker 3: percent of the total increase in house prices and twenty
18:51
Speaker 3: percent of the total increase in rents.
18:53
Speaker 1: Jim.
18:54
Speaker 3: That's not a small increase. That's massive inflation. There are
18:57
Speaker 3: other inflationary factors that are already driving these things up.
19:01
Speaker 3: But the burden not only in just you know, social
19:03
Speaker 3: and welfare services, education, healthcare, what have you obviously the
19:08
Speaker 3: criminal element of all of this, and now you've got
19:11
Speaker 3: people paying way more than they otherwise would have because
19:14
Speaker 3: of Biden's reckless border policy.
19:16
Speaker 4: So the price of anything gets determined by a supply
19:20
Speaker 4: and demand. Supply of housing, it can increase, it does increase,
19:25
Speaker 4: but it takes a while to increase. Anybody who's ever
19:28
Speaker 4: watched a house being built, or let's say, I don't know,
19:30
Speaker 4: hypothetically a tree falls in your house and you need
19:32
Speaker 4: to have repairs for it. Yeah, home construction takes a while.
19:36
Speaker 4: Home construction takes even more, by the way, when you
19:37
Speaker 4: have shortages of supplies and all that stuff this, you know,
19:40
Speaker 4: those are kind of separate factors. The question is like,
19:42
Speaker 4: if you're one whire housing prices going up or going down, well,
19:45
Speaker 4: how's the housing supply going and how's the housing demand going?
19:48
Speaker 1: Now?
19:48
Speaker 4: Americans are a mobile society. People move for work, people
19:52
Speaker 4: move to go to college, people move to graduate from college.
19:54
Speaker 4: They have an opportunity. People you know, get married, they
19:57
Speaker 4: live to be closer to family, they move to get
19:58
Speaker 4: further away from their family. It's kind of tough to
20:00
Speaker 4: figure out exactly what the housing you know, demand is
20:03
Speaker 4: because it's always changing, But a lot of people want
20:05
Speaker 4: to live in an area. Housing demand is up, housing
20:08
Speaker 4: supplies stays the same, or it is only going up
20:10
Speaker 4: very gradually. Housing prices are going to go up significantly.
20:13
Speaker 1: This is just.
20:14
Speaker 4: Assuming you know, the the people being born, people dying,
20:18
Speaker 4: or remain the same, more people live alone than they
20:20
Speaker 4: did a while ago. All these things can play into it.
20:22
Speaker 4: But when you add seven million people in a fairly
20:25
Speaker 4: short period of time, what do you think is going
20:27
Speaker 4: to happen? Because those people aren't Some of those people
20:30
Speaker 4: might be sleeping on the streets, some of those people
20:31
Speaker 4: might be sleeping in tents or something. But a lot
20:33
Speaker 4: of those people are going to want and need housing somewhere,
20:36
Speaker 4: and might be they're going to be in a shelter somewhere,
20:38
Speaker 4: you know. But it's more of those things where like,
20:39
Speaker 4: you can't put that much demand into the system and
20:42
Speaker 4: not not without a corresponding increase in supply, and not.
20:46
Speaker 1: Expect housing prices to go up? Now? Are there other factors? Nimbiism,
20:50
Speaker 1: stuff like that. Sure, you know this is not what
20:52
Speaker 1: it's going to say.
20:53
Speaker 4: The sole reason that your house prices are going up
20:56
Speaker 4: is because of illegal immigration. But it was a factor. Oh,
21:00
Speaker 4: by the way, while all this was going on, Greg,
21:02
Speaker 4: what was what was the Biden administration doing to the
21:05
Speaker 4: money supply?
21:06
Speaker 3: Artificially increasing it right huge a couple trillion and spending
21:09
Speaker 3: us So we're gonna make.
21:11
Speaker 4: You know, at the same time, we're increasing demand for housing,
21:15
Speaker 4: and at the same time we're going to keep the
21:16
Speaker 4: level of housing either the same or increasing only very slowly.
21:20
Speaker 4: We're gonna make the value of the dollar go down.
21:22
Speaker 4: What do you think that's going to do to housing prices?
21:24
Speaker 4: What do you think that's going to do to rental
21:25
Speaker 4: prices and all that kind of stuff. Look, I'm sure
21:28
Speaker 4: there are some good folks in that seven million, but
21:30
Speaker 4: they did not have a right to enter the country.
21:32
Speaker 4: They did not have a right to stay. Do you
21:34
Speaker 4: really want you want to get out of trouble, go
21:36
Speaker 4: home to your home country, apply legally, go through the process. Yeah,
21:38
Speaker 4: I know it's a pain in the neck, but you
21:40
Speaker 4: know what, we have the right to determine who comes
21:41
Speaker 4: into this country. And the Biden administration's attitude for four
21:44
Speaker 4: years was no, we don't have to do that. And
21:45
Speaker 4: now we see the consequences of that, and you know,
21:48
Speaker 4: I'm glad I'm glad the Federal Reserve did this study,
21:51
Speaker 4: and glad they were willing to spotlight the negative parts.
21:53
Speaker 4: I strongly suspect this will only weirdos like you and
21:56
Speaker 4: me are going to pay attention to this, Greg and
21:58
Speaker 4: aren'tiful listeners who, let's face it, they're kind of weirdos too.
22:03
Speaker 1: We love our listeners, We love them.
22:05
Speaker 4: We're all unusually obsessed with like things in the news
22:08
Speaker 4: that you know, most people just do that. Oh wow,
22:10
Speaker 4: seven million people came into the country.
22:11
Speaker 1: Okay, what you exactly Now?
22:13
Speaker 3: The consequences in economically and in so many other ways
22:17
Speaker 3: just keep unfolding. And obviously it's very, very difficult to
22:22
Speaker 3: unroll what happened over those four years despite DHS's best efforts.
22:27
Speaker 3: But those efforts do continue, all right. When we come
22:30
Speaker 3: back a little bit of an update on Mitch McConnell, Well,
22:33
Speaker 3: we think anyway, just a moment, Jim, yesterday you and
22:40
Speaker 3: Craig talked about the mystery of Mitch McConnell. You know,
22:44
Speaker 3: ambulance came to his house. We think we have the recording.
22:47
Speaker 3: Cardiac arrests CPR. Obviously a very serious situation. Nobody's seen him.
22:52
Speaker 3: He's still in the hospital. Some people are reporting that
22:55
Speaker 3: he's brain dead and being kept alive past August third,
22:58
Speaker 3: So there's not a special elect shouldn't bridge the gap
23:01
Speaker 3: between him and the general election in November. But there
23:05
Speaker 3: are others who are saying no, he's slowly getting better.
23:08
Speaker 3: His staff has admittedly been incredibly cryptic about this, but
23:12
Speaker 3: yesterday others in leadership, John Thune, the majority leader, John
23:16
Speaker 3: Barassa of Wyoming also in the leadership, saying no, we
23:19
Speaker 3: had conversations with him. Also saying ye had a conversation
23:22
Speaker 3: with McConnell is Scott Jennings, the radio host, podcast host
23:25
Speaker 3: and CNN commentator, who made it clear that, at least
23:29
Speaker 3: based on what he experienced yesterday, Mitch McConnell's is very
23:33
Speaker 3: much alive.
23:33
Speaker 6: He called me this morning before I did my radio show.
23:37
Speaker 6: We talked for about seventeen minutes. He talked a lot
23:40
Speaker 6: about the situation with Iran, talk a little bit about
23:43
Speaker 6: Ukraine and what's going on in Europe. I told him
23:46
Speaker 6: I had been to the Teddy Roosevelt Library. We talked
23:48
Speaker 6: a little bit about the history of the vice presidency
23:50
Speaker 6: and how Roosevelt had transformed that in the modern presidency,
23:55
Speaker 6: little history of the Senate. I mean, it was you know,
23:58
Speaker 6: it was a wide ranging conversation I talked to often.
24:00
Speaker 6: I hadn't talked to him since he'd been in I'd
24:02
Speaker 6: gotten a few text messages from but I hadn't spoken
24:04
Speaker 6: to him. So it was good to hear his voice.
24:06
Speaker 6: Voice sounded strong and sounded like he was keeping up
24:08
Speaker 6: with the news to me.
24:09
Speaker 3: Did you ask him how he was feeling?
24:11
Speaker 6: Yeah, he said, you know, he said, was feeling okay.
24:15
Speaker 6: You know, obviously well enough to call me on the phone,
24:17
Speaker 6: and obviously well enough to talk to Barrasso and fun. Now, look,
24:20
Speaker 6: I'm not qualified to discuss any medical issues or give
24:23
Speaker 6: you any information about that. That's really for him or
24:26
Speaker 6: his his staff to do. But you know I talked
24:29
Speaker 6: to him from time to time, and I see him
24:31
Speaker 6: from time to time, and you know, we had a
24:33
Speaker 6: conversation today about the things that we normally talk about,
24:36
Speaker 6: which are news today political stuff.
24:38
Speaker 4: Did you come away feeling like he's still capable of
24:40
Speaker 4: serving the people of Kentucky as senator?
24:43
Speaker 6: I came away feeling that he was staying on top
24:45
Speaker 6: of the news. Again. I look his his condition and
24:49
Speaker 6: why he's in the hospital or when he might come out,
24:52
Speaker 6: or look, that's that's.
24:53
Speaker 2: Do you know why, and are just saying you're not
24:56
Speaker 2: a liberty to share.
24:56
Speaker 3: I do not know why.
24:57
Speaker 6: I only know frankly what has been reported or what
25:01
Speaker 6: his office has said.
25:02
Speaker 3: So, Jim, if he is, you know, on life support,
25:05
Speaker 3: Scott Jennings' credibility shot. But then so is Fune and Morasso.
25:09
Speaker 3: So the fact that there's multiple people saying he's capable
25:11
Speaker 3: of holding a conversation would suggest that the life support
25:14
Speaker 3: contention is not necessarily the case. However, if you've ever
25:17
Speaker 3: known anyone who's been lucky enough to survive cardiac arrest,
25:20
Speaker 3: the recovery from that is very intense. Might not even
25:23
Speaker 3: make it after weeks or months, but it's still a
25:26
Speaker 3: very very difficult come back. And so then the question
25:29
Speaker 3: becomes is he able to serve?
25:31
Speaker 1: And so Farth.
25:32
Speaker 3: But a lot has happened since you and Craig talked
25:34
Speaker 3: about it yesterday. What's your take on the latest?
25:35
Speaker 4: Yeah, Well, if Scott Jennings says he's talked to him,
25:38
Speaker 4: I believe that, not just because I you know, I've
25:40
Speaker 4: been saying to know Scott Jennings, well, but I've chatted
25:42
Speaker 4: with him a couple of times, and I think lying
25:44
Speaker 4: about something like this would be psychotic, and also for
25:47
Speaker 4: him to like, you know, like if Mitch McConnell isn't
25:50
Speaker 4: a coma and Scott Jennings is making up this story
25:53
Speaker 4: and fun is making up this story, and then they're
25:55
Speaker 4: all crazy and they're all you know, so like, I
25:57
Speaker 4: look this, I'll count this as proof of life. I
26:00
Speaker 4: do think it's troubling that we're not being told what
26:03
Speaker 4: ailment has him in the hospital. He's been in the
26:05
Speaker 4: hospital for more than three weeks now. Mitch McConnell's eighty
26:08
Speaker 4: four years old, and we saw him freeze up right.
26:10
Speaker 4: We knew he was having health challenges heading into this.
26:13
Speaker 4: I think that you are obligated as a public official
26:17
Speaker 4: to keep the public when you are when you can't
26:19
Speaker 4: be in your job. If you did not show up
26:21
Speaker 4: at Radio America for three weeks, people including myself, would
26:23
Speaker 4: be very, very worried and would want to know what's
26:25
Speaker 4: going on with this. It was interesting that Jennings said
26:27
Speaker 4: he did not know why he's in the hospital. That
26:29
Speaker 4: seems like one of the first things you talk about,
26:31
Speaker 4: Oh my god, senator, how are you doing what happened.
26:33
Speaker 4: Maybe he doesn't feel comfortable talking about it, or he
26:35
Speaker 4: feels like the you know, that should come from the
26:37
Speaker 4: Senator or his office. But I think the people have
26:40
Speaker 4: a right to know what happened, because clearly this was
26:43
Speaker 4: not a minor issue. Clearly, if you are still in
26:44
Speaker 4: the hospital three to four weeks later, then this is
26:47
Speaker 4: something significant.
26:48
Speaker 1: The recovery time could be significant.
26:50
Speaker 4: And people, you know, he's obviously he's not voting, he's
26:52
Speaker 4: not able to be in Washington.
26:55
Speaker 1: How you doing, Mitch, let us know how it's gone,
26:57
Speaker 1: and like it.
26:57
Speaker 4: I know that we don't want a Democratic governor to
26:59
Speaker 4: appoint with the like really in the end, coming right
27:01
Speaker 4: on the heels of Tom Keen Junior, coming right on
27:04
Speaker 4: the heels of everybody in the Biden administration saying, oh
27:06
Speaker 4: Biden's got so much energy, I can't keep up with them.
27:09
Speaker 4: It just doesn't look good for elderly lawmakers to say, yeah,
27:12
Speaker 4: we're dealing with a health issue, but we're not going
27:13
Speaker 4: to tell you what it is, and we don't know
27:15
Speaker 4: what he's going to be out of the hospital, and
27:16
Speaker 4: you're just going to have to learn no, no this.
27:19
Speaker 4: You say, you're a public servant. You really need to
27:23
Speaker 4: serve the public with updated, accurate information about whatever ailment
27:28
Speaker 4: you're dealing with. And again, I hope he lives to
27:30
Speaker 4: be one hundred.
27:30
Speaker 1: I hope you know. I think very well the guy.
27:32
Speaker 4: But you really have an obligation to your to your
27:34
Speaker 4: constituents to reveal stuff, and that's not happening right now.
27:37
Speaker 1: Yeah.
27:37
Speaker 3: I mean, I don't know how much evidence or testimony
27:41
Speaker 3: the brain dead camp is going on here, but when
27:44
Speaker 3: your people don't provide information, that's where a thousand conspiracy
27:48
Speaker 3: theories bloom. You got to trace it back to the
27:50
Speaker 3: original source and know they're offer right now. Eventually they'll
27:53
Speaker 3: be on the summer recess, you know, that would give
27:56
Speaker 3: him some time to recover, depending on what the issue
27:58
Speaker 3: is potentially, and that we get them past August third,
28:01
Speaker 3: which some people think is the big deal here. I
28:03
Speaker 3: don't know if that's the calculation they're going through or
28:05
Speaker 3: they just don't want to divulge a lot right now,
28:07
Speaker 3: but either way, I think there it's incumbent upon them
28:10
Speaker 3: when you're dealing with the public official to do that,
28:12
Speaker 3: like you said, so hopefully more news on that soon
28:16
Speaker 3: and we can put all the rumors to rest one
28:17
Speaker 3: way or the other. But Jim, you're actually gone tomorrow.
28:20
Speaker 3: I know it's nothing personal. Then we'll be back together
28:23
Speaker 3: on Friday, and we'll resume then.
28:25
Speaker 4: And we should be normal for a while. Listeners for
28:27
Speaker 4: a while, we'll see life.
28:30
Speaker 1: Time's up.
28:30
Speaker 3: Jim Garrett dash in a review. I'm Greg Corumbus of
28:32
Speaker 3: Radio America. Thanks so much for being with us today.
28:34
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28:39
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Speaker 3: Thursday for the next three Martini ladche