Recession Looms as the Fed Promises Multiple 50 Basis Points Hikes

Automatic TRANSCRIPT

We need to fix our economy. I realize the Federal Reserve is trying this trying, but you know what? It's too darn late. I'm sorry guys, you should have done this way earlier. Now we're here hiking by multiple 50 basis point hikes, and that's going to have a suppression style effect on the economy, which I believe is going to head us into recession. I predicted 85% chance we're going to be in recession by the end of this year into early next year. I do think the oil prices are going to continue to escalate despite what they're doing in part because of what's happening overseas in Russia. And Ukraine, you just take in all that oil off the market. I realize that the president of the United States wanted to constantly blame Russia for the hike in energy and food prices, but let me just say you ain't seen nothing yet. I mean, that was, that hasn't even kicked in fully. It will believe me, it absolutely will, but one of the reasons we're also seeing this, one of the reasons we're also seeing this is because this administration has refused to recognize the reality that we need to be energy independent. They think you can flip a switch and suddenly everybody's going to be driving a Tesla. Oh, they don't want you to harm the Tesla. Forgive me. Elon Musk is on the is on the naughty list right now. So they think that somehow we're all going to switch to EVs tomorrow. That's not going to happen. Crude oil at a 110 bucks a barrel, trading up about a percent in today's trading, that's going to continue going higher. I've predicted a $130 by the height of the summer driving season. We could very well see it because we're taking all that oil off the market, all that neck gas off the market, I'm not saying we shouldn't have. I realize you got to do what you got to do, right? In times like we're seeing right now, but gosh, to not have an alternate plan, I mean, guys, what do you think and

Coming up next