Richard Nixon, Bill Clinton, Jon Stewart discussed on Wheels
To Southwest Nissan Forward Highway off Interstate 20 in Weatherford. What Uh, and let's go to Dan Dan of Grandview. Hey, Dan. Good morning, Ed. Hey, I have a lively discussion with a friend at work this week about the rising gas prices at the plant. And, yeah, man. His position is resolved by President Biden's fault, and of course it is. Of course it is. He's an all trader. He's spoken. He's spiking the prices. Of course it is. Well, that may be true, but, uh In my position. Possession to him was it's just the market and, uh Changes are kind of out since the pandemic and Now everybody's driving and you know somebody wrote me that line this week. About the price of gas. With Biden there and the price of gas when President Trump was there, right? Harry and I again first thing. These things are not determined by presidents because I've written a lot about speculation on Wall Street. But I was talking about the period back in 2000 and 7 to 2000 and eight when all went from $69 a barrel 148 while at the same time worldwide demand for oil. And fuels was falling due to the global, uh, recession that was taking hold right before the financial system collapsed. Right well, that's speculation. So this I think it was the Congressional budget office. It came out day before yesterday and said economic growth in this quarter and I don't want to get this wrong. I think they said it's going to be over 7% So when was the last time the economy grew in America? By 7%? How many years back? What do we have to go? Oh, quiet here. Yeah, And so when the guy wrote me the letter I said yes. But when President Trump was first elected, the price of gas was higher and fell while he was president. The same way that car sales new car sales in America fell three of the four years he was in office, right? I agree. One president Obama went went into office. Remember the meltdown? It happened and oil was down like $30 a barrel. Les Price paid at the wellhead. But the economy came back because the government pumped so much money into it. So did the Fed. It had nothing to do with Obama. But gas prices came back, didn't it? Car sales rose seven out eight years he was president. But, well, people want to blame a president. It's not. It's the Federal Reserve and it's the government stimulus causing this well and that was my position with my friend and we're still friends was I don't understand how any president could affect oil or gas prices, but they can't. There are ways they can do it. The problem is, we have a lot of news sources out there that actually well, even when I was writing for business week back in that 7 4008 period, I had places like Neil Cavuto. Right there. Producers reached out to me to come onto this show. I did CNN with Wolf Blitzer wants and I said, I'm not doing this again because Jon Stewart's right. You're just there to be a trained monkey to entertain their audience. When they do this stuff. They're just throwing questions at you and saying You're the expert and all that, but they're not taking anything you've written seriously. So I went looked up all of New York, New York Cavuto's reasons why oil was going so high. And everything he wrote was just nonsense. And so I told the producer I really don't want to go on his show and have his ignorant his ignorance on this subject. Override the stuff I actually went looked up. I'm not picking on Neil Cavuto was just on this one issue. He was blaming it on the Arabs. Okay, good for you. That's not what it was. Well, that's quite that's pretty much what I thought it was a president takes drastic legislation. They're not going to really be able to effect the oil market. They can. Again. We can do that We can impact it. It's just he has been president all that long. And as I predicted, most people are going to kind of like Joe. Because he's more of a moderate anybody thinks, and he's more of a capitalists than anybody thinks, because he's from Delaware and most every major corporation in America is incorporated in Delaware. You don't get to be a 50 year senator from that state less if you are business friendly because they'll run you off, right? What do I believe up? What I tell everybody, I said the biggest fear that that would be rational. Is going to be with Kamala Harris. If anything happened to Biden and she became president. Because there's just something about her. If you look at her career in California, which is a very, very smart, very capable person, but I don't know that she has enough sense to back off when she's given power. And so sure enough, what's happening this week? All these leaks about what a mess or offices right? Yes, There you go. That's exactly what I forecast. Most people would like Biden because he's actually a centrist and he's pro capitalism. And she would be the weak part of this administration. That appears to be happening at least through this week. And I bet they're having some tough talks with her. Well, I want to thank you, Ed for telling me that I'm not Silly for thinking that presidents can't really well, they can, but they don't normally affect the oil industry. You know again. I got into the car business when Richard Nixon was president. So I've been through Nixon Ford. Carter, Reagan Bush. Juan started doing the show. Bill Clinton, uh Bush to, uh Obama. Trump Biden and you know what I know about the car business..