This rise in crony capitalism stands in contrast to the traditional free-market ideals, stirring an engaging debate between the speakers. Kim Munson and her guests discuss how lobbying and economic policies have possibly distorted the pure dynamics that capitalism intended, giving rise to the current disparities between big business profits and stagnant wages.
Inflation’s shadow looms large in the episode, with speakers noting it as a silent thief affecting everyday individuals, mostly those striving hardest to climb the economic ladder. The podcast articulates how inflation, driven by various economic policies and market conditions, disproportionately burdens the lower-income strata while offering leeways to the affluent who can leverage speculative assets.
The discussion navigates how modern conveniences, such as automated grocery shopping, have paradoxically contributed to inflated prices without corresponding efficiency in cost reductions. High profits recorded by large corporations contrast sharply with the price hikes on consumer goods, fostering skepticism about economic efficiency claims.
Interesting anecdotes pepper the conversation, such as personal experiences with heating and home conveniences, stressing the significance of reliable, affordable energy sources like gas and oil. The historical context of economic evolution provides a backdrop for examining how economic societies might steer back to grounding principles while acknowledging modern shifts.
With passion for economic restoration, the show ultimately poses an existential question for the audience—whether communities can reclaim governance and economic integrity without resorting to coercive policies. In doing so, The Kim Munson Show presses its listeners to engage actively in shaping the market dynamics of tomorrow by holding onto foundational American economic principles.
In this episode of The Kim Munson Show, Kim talks with KLZ producers Joe and Luke about Henry Hazlitt's book Economics in One Lesson Listen as the team delves into the intricate discussions surrounding capitalism, cronyism, and how government policies interplay with economic principles. With the inputs of young producers, Luke and Joe, the conversation navigates through the concepts presented in 'Economics in One Lesson' by Henry Hazlitt. The episode scrutinizes historical data on corporate profits and questions the modern economic environment where growth appears skewed by external influences.
SPEAKER 06 :
And welcome back to The Kim Monson Show. Check out our website. That is KimMonson, M-O-N-S-O-N.com. Sign up for our weekly email newsletter. You can email me at Kim at KimMonson.com as well. And thank you to all of you who support us. We really appreciate you. And also thank you to Laramie Energy. for their gold sponsorship of the show because it's reliable, efficient, affordable, and abundant energy from natural gas, oil, and coal that powers our lives, fuels our hopes and dreams, and helps us control our own personal climate. I think I'm going to add that in permanently. What do you think, Joe? Is that okay?
SPEAKER 07 :
I think so because that personal climate is very, very important. Wait until you have a day of 90 in Colorado. You kind of want that AC.
SPEAKER 06 :
Or what about we're supposed to have some bitter cold this weekend as well. I really am grateful for a warm house. And all I have to do is just basically, you know, hit a button and it happens. Do you know how much work it is back in the old days when they had to warm their homes with coal to bring coal in or to heat your home with wood? It's a lot of work.
SPEAKER 07 :
I actually do. My grandfather has a stone chimney fireplace that is routed throughout his entire house. So every time I go out there, I'm chopping wood and doing a fireplace. It is a pain in the butt. It's a lot of work. And then enough times of use within a week, you've got to clean it out and do it again.
SPEAKER 06 :
Do it again. Absolutely. So we are so blessed, and all of this is under attack. I am thrilled to have the young guys here. In here, I was going to say the young guns, but I can't say that in Colorado right now. But Producer Luke and Producer Joe, both 26 years old. I so appreciate their perspectives. We've been going through this book, Economics in One Lesson, by Henry Hazlitt. It says the shortest and surest way to understand basic economics. And Producer Luke, we are to chapters 22 and 23. Almost done. Almost done. And 22 is the function of profits. And he starts off with the indignation shown by many people today at the mention of the very word profit indicates how little understanding there is of the vital function that profits play in our economy. So that sets us up. And I know that sometimes you agree, sometimes you think his tone's a little much. So what do you think about profits, Producer Luke?
SPEAKER 05 :
What do I think about profits? I think, in terms of the way Hazlitt addresses profits, in this chapter specifically, I think it works better almost entirely isolated to a time like pre-1980s. Because I think that's when a lot of what he's saying makes the most sense, and I don't think a lot of that holds up anymore. First, I definitely want to start by saying I get companies need to make profit, right? Not only do you need to pay your employees, you need to produce a product, you need to reinvest in yourself to continue to innovate. Obviously, I understand that. I totally get it. He goes on to state a little bit later in here that profits do not bulk large in our total economy. The net income of incorporated businesses in the 15 years from 1928 to 1943, to take some illustrative figures, averaged less than 5% of the total national income. And then he goes on to give some more details. Dates stating that between 1956 and 1960, the average is less than 6%. Between 1971 to 1975, average less than 6%. And again, to reiterate, this is the net income of incorporated businesses, sort of accounting for a percentage of total national profits or national income. And I felt that that was a little off to me. So I went through and I double-checked his work. And while he is correct in those percentages, those percentages don't hold true to today. If, again, between 1929 and 1943, it's less than 5%. Between 56 and 60 is less than 6%. 71 to 75 is also less than 6%. Kim, I would like you to guess... What percentage of total corporate profits accounted for national income between 2020 and 2024? If you had to throw a number out there. I don't know. 16.7%. That is a huge increase. That is an astronomical increase, especially when you compare it to the historical figures of the past. To be less than 6%, less than 6%, less than 6%, less than 6% over approximately, what is that, 3, 4, 5, over 50 years, just about, averaging 6%. And just to, again, double check, between 1990 and 1995, it was 5%. Uh, jumping a little bit ahead between the year 2000 and 2005, it doubles 10%. Uh, between 2010 and 2015, we stay at 10%. And then again, jumping to 2020 to 2024, 16.7% of national income is corporate profits, not corporate income, corporate profits. Uh,
SPEAKER 06 :
Okay, and what's your source on that?
SPEAKER 05 :
I got that from the Bureau of Economic Analysis. Okay.
SPEAKER 06 :
Okay, so government... That is .gov, yep. Bureau of Economic Analysis. Okay, good research on that.
SPEAKER 05 :
I wanted to double-check, and the reason I wanted to double-check is because later on in this chapter, he talks about, contrary to popular impression, profits are achieved not by raising prices, but by introducing economies and efficiencies that cut costs of production. I don't think that's the case in 2020 to 2024. Perhaps this is an observation bias. Perhaps I am blind to some of the workings behind the scenes, but I can't afford eggs anymore, and eggs haven't become any more or less efficient, at least in my immediate experience. You know, the way grocery stores function on a fundamental level have become arguably more efficient. You can do curbside pickup. You can order online. There are so many. There are so many more things going – these systems have become more efficient. We're using AI and the internet to mass order and do all this stuff without the need of an employee for a majority of things. But prices are still going up. Places like Walmart, places – these big energy companies – are recording record profits well nothing's gotten more efficient i mean things have gotten more efficient but the price isn't going down the price is going up they're charging you to use the self-checkout aisle it's uh you know in some of these they're charging you in some of these states yeah uh i think california um of course california california uh there's a couple other states where walmart and people you have to pay a subscription plan to check your own groceries out So I think I do take a little issue with those notions because I'm not seeing that in real life right now. I'm seeing the exact opposite.
SPEAKER 06 :
Okay. Excellent points. Great research. So thank you. So, Joe, prophets, what's your thoughts on this?
SPEAKER 07 :
Just kind of piggybacking off of what Luke said there, I think that is accurate. They're getting really good at efficiency, but as prices are still going up, wages for people aren't still going up. Wages stay the same. And so now that bottom end people that have to pay 20% more for the same goods that they were previously getting, but they're not getting paid anymore, have to live in almost poverty now.
SPEAKER 06 :
And so inflation, my father always said that inflation is that silent thief. And under Jimmy Carter and now under the O'Biden-Harris administration, we had what was called stagflation. And that was where prices were going up, but people's wages were not going up as quickly. And so people are losing ground because of that. So great research on this. And I feel like, what was that game show where you could call your line, you know, you had a line to somebody for a phone call or whatever? Who wants to be a millionaire? But you had a call, you could say, I'm going to take my...
SPEAKER 05 :
Take a lifeline or something?
SPEAKER 06 :
Yeah, take a lifeline. So my lifeline, my friends, is 720-605-0647. Text me as I'm in here with these young guns on this. But first thing that I would say that's just jumping out at me regarding 2020 to 2024 and this huge increase in profits is, is that I say many times there's a difference between capitalism and cronyism. 2020 to 2024, we saw cronyism big time, where you had pharmaceuticals that said, hey, we can make a lot of money if we have government mandate or coerce or use fear or whatever to get people to have to use our product, and we're going to get government to also pay for. our product. So I think that what we might be seeing there is crony profits, not capitalist profits.
SPEAKER 07 :
I actually have an example. I saw there was a hearing for the owner of Boeing. So Boeing is under scrutiny right now because their planes are often falling out of sky or breaking. But at the same time, that owner took a 45% increase in his salary while there were contracts for his maintenance people, his engineers, the people that are doing the groundwork and everything. You know, they went to school, they learned all the skills that they need to to try and succeed. They got locked into a six year contract where their wages never changed. Do you see a problem with that?
SPEAKER 06 :
It does seem like maybe a lack of understanding from the leadership component. And so stay tuned on that. I'm thinking, okay, if they're competing in a real market, then airlines would not be buying their product, which would affect everything, right? Right.
SPEAKER 07 :
But they also have government deals for their planes and stuff like that. So the government is paying for them while they're making more profits and not paying the people who keep the company running. Because honestly, at the end of the day, if you didn't have those technicians and those engineers, the planes aren't getting off the ground.
SPEAKER 06 :
Right. This will play on the long term. This is going to work itself out. But this is cronyism. Once again, this is cronyism and lack of leadership, a tenure, if you will, by the CEO to take those kinds of increases in pay when this other stuff is occurring. And I agree. That's a real problem, Luke.
SPEAKER 05 :
Piping hot take. Piping hot controversial take. This one's going to catch me some flying. Crony profits are capitalist profits because capitalism has allowed for the cronyism to exist.
SPEAKER 06 :
No, it's not capitalism that has allowed that to exist. What has allowed that to exist is government and big business getting in bed with each other to make rules and regulations and taxes and fees to try to squash their competition. And so it's not capitalism. It is government and business colluding together is what I would say on that. Luke? Yeah.
SPEAKER 05 :
I would say, again, the environment of free market capitalism has allowed that path to be taken. It's the natural course of action that it's led to.
SPEAKER 06 :
But what about under socialism and communism?
SPEAKER 05 :
Well, if socialism is a slippery slope to communism, then capitalism is a slippery slope to cronyism. The two ideas can't be held independently of each other. If socialism leads to communism, then capitalism must lead to cronyism.
SPEAKER 06 :
And I have to push back on that because capitalism, without government intervention, when government is limited, when it is smaller, when it's not coming in with rules and regulations to favor one over the other, then you have capitalism. And so capitalism doesn't lead to cronyism. It is government, letting government get out of its lane. Joe?
SPEAKER 07 :
I kind of have an in-between take on this one because I kind of agree with Luke that capitalism can lead to cronyism because the cronies are already in the lead. They already have the capital available to make sure that they stay in the lead now. And now they get to use money to force the government and push on the government to… to incite these regulations so that you have to use specific brands of things, specific items of things for regulation purposes when that's not capitalism. Completely right. But it was totally the fact that Originally, they started out on a capitalist idea. It was successful, and then they want to make sure it would always be successful from then on.
SPEAKER 05 :
Someone correct me if I'm wrong, but wasn't it – it was Reagan who was the one who pioneered this idea that the exchange of money to government is constituted under free speech, which is what's allowed lobbying to happen? It's – I mean I think it all leads one into the other.
SPEAKER 06 :
Well, I think I personally do think that money is free speech, that I should be able to do with my money what I want to do. And so we've gotten down here. You know what? Let's we need to. Again, I think we could do another Joe Rogan three hours with you guys on this. This is so interesting. And I really do. Appreciate the conversation. I've got to make so many notes here. All this happens because of our sponsors. And truly, Lavaca Meat is a premium product. It is the steakhouse experience at home. It is a great protein source for your diet. So be sure and check them out. They're at the corner of Nevada and Maine in Old Littleton.
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SPEAKER 03 :
All of Kim's sponsors are an inclusive partnership with Kim and are not affiliated with or in partnership with KLZ or Crawford Broadcasting. If you would like to support the work of The Kim Monson Show and grow your business, contact Kim at her website, kimmonson.com. That's Kim Monson, M-O-N-S-O-N dot com.
SPEAKER 06 :
And welcome back to The Kim Monson Show. Be sure and check out our website. That is KimMonson, M-O-N, S-O-N.com. Sign up for our weekly email newsletter. You can email me at Kim at KimMonson.com as well. Thank you to all of you who support us. We're an independent voice, and we search for truth and clarity by looking at these issues through the lens of freedom versus force, force versus freedom. Something's a good idea. You should not have to force people to do it. January 23rd, Thursday evening, you've got two great places to be. You're going to have to make a choice. I've tried to be in two places at the same time. Never successfully. And the first is in Pueblo at the Center for American Values. They will be having an event, an On Values event. Bob Chica, who was a crewman on the USS Pueblo, which the Pueblo was taken captive by the North Koreans during the Vietnam War and was held for over a year. And Bob was on that ship. boat as a crewman and was a prisoner for over a year it's going to be super interesting and just check it out at americanvaluecenter.org if you plan on attending let them know so that they have enough chairs and normally they have a little reception with food afterwards as well so that is americanvaluecenter.org and then here in the metro area The Colorado Union of Taxpayers, we will be holding our legislative kickoff event at the Colorado Automobile Dealers Association, which is at 290 East Spear. There's parking right by the building, so don't be afraid to go down there because we've got everything figured out for you, and we'd love to have you join us. Tickets are $10, and you can get more information on that by going to coloradotaxpayer.com. Okay, gentlemen, we have lots coming in here. So I'm just going to, just let's see here. Let's go through here. It says, somebody said, yes, it is difficult to heat with wood, but it's wise to keep it as a backup system, which is what I'm doing as well. And let's see. We'll talk about eggs here in a minute. This is important to understand. Corporations pay their employees income out of their profit. Let's see. Somebody said, stop demonizing profits, run a business, and then talk to me. But this is our entrepreneurs, Luke. What you've described here during this huge increase in corporate profits, 20 to 24, is where the pharmaceuticals, big business, and big government got in bed with each other. And so what is the answer? The answer is that we reclaim this government for we the people and get it put back into the box that it needs to be in. I know that's a tall order, Luke.
SPEAKER 05 :
It is. It is. But I don't think it's as much government as we'd like it to be. I think government is a good scapegoat, in a sense. I want to pose a sort of thought experiment for an example just because I think maybe I'm having a hard time understanding where your definition between capitalism and cronyism is. And I don't know where that line is, so it's hard to engage with those terms being used. So – Let's sort of create this little bubble of reality where government doesn't exist. Government has no influence on business at all. You have people who need food, water, and air to survive. We need shelter. And again, in this little bubble where government doesn't exist, let's say I have a lot of money, right? And I start an egg business, right? I buy a bunch of chickens, and those chickens produce a bunch of eggs, and then I sell those eggs to people. And let's say I run that business very well for a very long time. And I make a lot of money. I'm beating out my competition. I have some competitors.
SPEAKER 06 :
And why are you beating out your competition?
SPEAKER 05 :
Let's say I'm selling my eggs for a cheaper price and I'm delivering them to your door by myself. So whatever. I'm innovating. I'm providing a good service. I'm beating out my competition. Let's say I make enough money that I want to make some more money. So I buy the neighboring farm. I buy up all of his chickens and all of his eggs. I give him a good payout. He's happy. He can retire. And then I make more money. I make more money. And then I go to the next farmer, and I buy up all of his chickens and his eggs. He's happy to sell it to me. He can retire. He doesn't have to work another day in his life. And here I am with three more farms. Well, what happens when I buy all the farms and I have no more competition and I keep buying the farms until no farms exist besides my farm? And then I increase the price per egg to $500. At what point in that scenario is it cronyism?
SPEAKER 06 :
I would say there is no cronyism there. I think at some point in time, the free market is going to come in and people will say, okay, you own all the eggs, egg production, but I'm not going to eat eggs anymore because they've gotten so much more expensive. And so what will happen is people will start to make different choices. There will be other competitors that will come into the market, maybe not with eggs, but with a different product that people will decide that they're going to And so that will – from a capitalistic standpoint, the egg producer is going to have to start to lower prices so that he can once again start to compete with the competitive products.
SPEAKER 05 :
Okay. So – and then to sort of harken back just again to sort of recontextualize my definitions. The exchange of money to government, is that fair under free speech or do you take issue with that? Lobbying.
SPEAKER 06 :
Well, if government is limited, if we get government back in its proper role, then we as people will – lobbying will not be as influential because with lobbying – What happens is trying to represent a specific industry or a specific – for example, let me give you an example. I was on the board of Lutheran Family Services, which is a nonprofit, if you will. It was a charity. Mm-hmm. And I, this was in the 90s, and this was a big eye-opening experience for me because I thought it was a charity. And then I ended up on the, oh, I think I was the vice president of programs. I was looking at the financials on it, and I started to realize that the bulk of their income was not from people donating, but it was from government contracts. Right. primarily for refugee resettlement. Then when I was going through the financials on it, I found that we were spending money as a nonprofit on lobbyists down at the statehouse. And I realized that that's not the proper role the way this was supposed to occur. So one of the first things that we need to stop doing is these government grants. That's a place that there's a lot of cronyism, and we need to stop that. Joe, you look like you want to jump in.
SPEAKER 07 :
Well, the only thing that I can think about, though, is we do need to stop this, but he who has the gold makes the rules. And unfortunately, the government has literally the ability to make gold to a degree, if you would. And it's kind of showing out now that – The lobbying comes in tandem with... So the lobbying, for example, the pharmaceuticals... High profits. It kind of comes in tandem because that, like Luke was kind of saying, is once you're at a point where with those three farms that he had, he is always making money, whereas those three farmers that he paid out and they don't have a farm anymore... They don't keep accruing money off of that. They got a one-time payment. And so they kind of have to live with what they have, whereas Luke now has a guaranteed way of stream that he can kind of use to enforce what he needs.
SPEAKER 06 :
So, but again, and this is from one of our listeners, it said, hold on here, it says, in a free society, he cannot buy all the farms because the smallest farm is me with my chickens at home. So that's another point. Eggs get so expensive, people would get their own chickens. But then you've got governments that say you can't have chickens in your backyard.
SPEAKER 05 :
Yeah. I guess for the sake of the example, obviously, the thought experiment doesn't exist sort of within the greater confines of the world. Because at that point, the argument would extend to, OK, well, I buy up all the chicken farms. You can't get your own chickens because I own the production of chickens. Right. I mean, you can sort of expand it. However, the point I guess I'm trying to make is. In the founding of the nation, I think that the nation was founded – again, please correct me if I'm wrong. This nation was founded on the idea of free market capitalism. That's sort of one of the things we did very differently than a lot of other people. When the government started, it started as the idea of being small government. So we had free market capitalism. We had small government. So what changed? What went wrong during that pipeline that's converted what started as good into cronyism? Where was that pivot point?
SPEAKER 06 :
Probably really – we've talked about it with the progressive era with Woodrow Wilson is one of the inflection points. Actually, I was at a presentation recently where it – the progressivism came out of the – after the Civil War. But it's really probably the inflection point is Woodrow Wilson. Guys, let's stop. This is excellent. I do want to mention, though, on the eggs, on the egg prices that you mentioned, because egg prices have gone from a few years ago at $2.99, they're at $8.99, where I've been getting eggs. And I had written a piece back in 23 regarding the... There's a new law in Colorado that dictated that chickens had to be cage-free, that they had to have a certain amount of square footage. All of those things increased the prices of eggs. And then also this bird flu thing is, I guess, the USDA, if there is a sick chicken in the flock, they're killing all the chickens. Right. What a dumb idea to kill the healthy chickens, too. It's a dumb idea. But all these things are contributing to the increase in cost of our food supply. Joe?
SPEAKER 07 :
but that's kind of where I see the lobbying to a degree as well, is the big farms are not going to have as big of a hurt on that. The little farms are going to have to close down.
SPEAKER 06 :
And that's an excellent point. I need to reread that legislation because that legislation, if I remember right, it didn't affect the small producers or the big producers, which lobbied it. It is for the mid-level producers where they're trying to get them out of business. So going back to our Declaration of Independence, If we are all created equal, then the law has to be equal across the board for everyone. And that's a point where when we started to say, you have to adhere to the law, you don't, that was one of the places where we... Went down the wrong road. Gentlemen, let's talk about inflation when we come back. And I do thank you for all these text messages, 720-605-0647. All this happens because of our sponsors. And Lorne Levy is who you need to call for everything mortgages.
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SPEAKER 06 :
Welcome back to The Kim Monson Show. Check out our website. That's KimMonson, M-O-N-S-O-N.com. Sign up for our weekly email newsletter. You can email me at Kim at KimMonson.com as well. Thank you to all of you who support us. We're an independent voice. We search for truth and clarity by looking at these issues through the lens of freedom versus force, force versus freedom. Something's a good idea. You should not have to force people to do it. One of our listeners might... My friend, you young gun, says we are going to need 24 hours that I learn more from your show than I ever did from any educational institution.
SPEAKER 05 :
Very sweet.
SPEAKER 06 :
And also, she said this, the problem with capitalism turning into cronyism is that we don't hold our government accountable when they do these private public deals. There should be regulation on the government about picking winners and losers. And that is spot on. And I could tell you some different stories about when I was on city council because you see this all the time that you have interested parties. When I talk about PBIs, politicians, bureaucrats, interested parties, they come in. They collude together. We're all busy trying to live our lives, fighting inflation, all these things. And that's where we have this cronyism that seeps in. We could talk more about this, gentlemen, but I want to keep us on task. We probably can agree on the next chapter, and that is inflation. So I'm going to go to you first, Joe.
SPEAKER 07 :
Yeah. It's at an all-time high, and I sit and I think about the pictures around, I want to say World War II. I saw one the other day of these kids playing with stacks of money because it was worthless in Germany because of what they created within the force of government.
SPEAKER 06 :
With inflation. And we're going to have Jay Davidson on tomorrow, who is the founder of First American State Bank. He has been on this, this printing of money, this continuing taking of debt, sending billions of dollars to Ukraine that we printed up. This is all causing inflation. What's your comments on inflation, Producer Luke?
SPEAKER 05 :
Yeah, hopefully I can earn some goodwill back with the listener base. Fuck. by agreeing with Hazlitt in the next chapter, because I think he is spot on with this one. He says in a lot of words what can be said in a couple of words, that being inflation sucks and no one likes it. He says sort of near the end of the chapter, the poor are usually more heavily taxed by inflation in percent terms than the rich, for they do not have the same means of protecting themselves by speculative purchases of real equities. which I think kind of sums up a lot of what's being said. And you see a lot in the sort of modern landscape of talking about inflation because I think there are two very primary sort of misconceptions about inflation. The first misconception being when people say, you know, 2025, for example, speculatively, inflation's down to 2.5%. That doesn't mean total inflation is down. 2.5%, it means it is increased by 2.5% as opposed to the projected increase of 3.5%. Inflation is additive, which I think is prone to being forgotten by a lot of people who aren't really in the know. And then the second sort of misconception about inflation, when they say total inflation is 7%, let's just say that's the number they throw out. And that's 7%. But it's also 7% across cherry-picked data that benefits whatever administration's in power. If bread's gone up 200% and eggs have gone up 300% and gas has gone up 500%, well, inflation for the people who can only afford eggs, bread, and gas, inflation's 700%. I don't care if the price of a used Toyota Tundra has only gone up 0.5%. I'm not buying a new... Toyota Tundra, you know, it doesn't matter to me. It impacts different people differently, which again, Hazlitt says and agrees with. So I agree with Hazlitt on that. I just think it's often forgotten.
SPEAKER 06 :
Well, inflation hurts those trying to move up the economic ladder the most. Those that are – and as you mentioned, basic things. The idea that eggs are at the price that they are because of government policy. And my understanding regarding the egg producers is that on this legislation for these cage-free chickens – was basically they were threatened. They were said either, why don't you agree to this? Again, this is hearsay. I need to qualify that. But you need to adhere to this new legislation or we're going to take it to the ballot box. Right. And everybody is so concerned because of what happened with the reintroduction of of the wolves it's amazing that we were able to defeat several bad bills two in denver the meat processing ban as well as the fur ban and denver and then the the hunting ban so we we have had had some success but we need to stay on that so let's go to joe then back to luke
SPEAKER 07 :
I think people forget about why we created paper money in the first place. It was so we didn't have to carry around all our goods for trades of value. And I think that is the biggest thing that we should take from this, that when the government prints money, they are not adding value to the coffers while doing so. So that's what expands it even further and just makes this everlasting growth because now we have money. And each time we print more amounts of money and the Fed didn't gain any amounts of capital, they just devalued the dollar by a .0001 minuscule amount. It's also exponential. As you keep doing that, it will start to compound to this big behemoth of a monster that you will not recover from. And it's all due to the fact that we don't have value to the dollar anymore. And I don't like that.
SPEAKER 06 :
Well, and it is because of government policy and the Fed. You've nailed that. We're getting close to out of time. Producer Luke.
SPEAKER 05 :
You want to talk about private government partnership, Federal Reserve, looking at you. It is funny we're talking about eggs again and the price of eggs. And the reason I wanted to use eggs in that initial example, I think people wonder, why are you harking on eggs so much? Well, they're a great source of protein, and you can get a lot of them for very cheap. If you want another source of protein, you're looking at beef, pork, the actual chicken itself. You kill one pig, how much protein are you getting out of that versus a chicken that's going to be producing it like crazy and eat scrap? So I think when we look at eggs, eggs are a big part of this whole thing because they're so multifaceted, because they're so important, because there aren't a whole lot of good alternatives. If you want egg, that bulk source of protein, go eat the bugs. I don't want to eat bugs. I'd rather eat eggs. So I think that's why we use eggs a lot. But yeah. When it comes to inflation, the devaluing of the dollar, we made a huge mistake when we moved off of a gold-backed currency. We can print money forever. It's all just a belief system. It holds no weight, and I think that's a shame.
SPEAKER 06 :
Yeah. OK. OK. Ballot initiative to restore the grocery bags as well. Yeah. What about this? Oh, we don't have much time, but this is so frustrating. So during COVID, do you remember that people were many people were disinfecting their shipments that came to their home? Everybody concerned about germs in the grocery store. Then we outlaw these sanitary products. Plastic bags, people use them when they go home for other things, but we outlaw those in Colorado. Now people are bringing in these dirty bags. How often do you wash your bags that you take into the grocery store, pull them out of their car? And so it's time for us to restore the grocery bags as well. Ten seconds, Joe. Always fun. Thank you.
SPEAKER 07 :
It's my pleasure. And just last point, they don't wash those bags and how many things have spilled over in those bags on the trip home.
SPEAKER 06 :
I know it. I know it. Okay. Producer Luke, this is so fun.
SPEAKER 05 :
Oh, it's a great time. Thanks for having me on. Okay. I hope I don't blow your phone up too much with all my...
SPEAKER 06 :
I appreciate it. This really is making us think. And so that's a great quote for the end of the show from Thomas Jefferson. He said that the issue today is the same as it has been throughout all history, whether man shall be allowed to govern himself or to be ruled by a small elite. Jefferson. Love it. Very nice. So my friends today, be grateful, read great books, think good thoughts, listen to beautiful music, communicate and listen well, live honestly and authentically, strive for high ideals, and like Superman, stand for truth, justice, and the American way. My friends, you are not alone. God bless you, and God bless America.
SPEAKER 03 :
Talking about freedom I'm talking about freedom I will fight
SPEAKER 02 :
The views and opinions expressed on KLZ 560 are those of the speaker, commentators, hosts, their guests, and callers. They are not necessarily the views and opinions of Crawford Broadcasting or KLZ management, employees, associates, or advertisers. KLZ 560 is a Crawford Broadcasting God and country station.
