Hey everyone me kevin here, it's been a while, since i've done one of these walking videos, but anyway we got to talk about what joe biden just said so very similar to the election. In my opinion, uh very motivating and a lot of talk about what we can do as congress together. Unfortunately, that's not much right now, because we're very divided, but i'm going to give you a summary anyway of what was said so very similar to the election. However, importantly, he starts with russia, and this makes sense that he started with russia.

He talks about how freedom will always win over tyranny. That putin has been miscalculated that he met a wall of strength. He met the ukrainian people. He did not mention zielinski by name, which i think was a little bit of a mistake.

He should have mentioned zalinski because he's freaking amazing. He is the glue keeping ukraine together. In my opinion, biden says that light will win over darkness and that dictators will pay. The price putin thought that he could divide us, but we're united.

We shared the truth and countered his lies and, quite frankly, you have to say we did hear jens hacky and biden. Multiple times tell us what they expected was going to happen, and ultimately those things did happen, so you have to give them credit for that biden, talks about how we are choking 630 billion dollars of assets from putin. Now this all right this. This takes a little bit of delving into okay, so the uh russian sovereign wealth fund had about 186 billion dollars of uss well dollar assets right.

They have mostly divested from those over the last four years. However, their banks and institutions still have about 630 630 billion dollars worth of u.s assets, so this is true. Joe biden also goes on to say that the russian economy is reeling, and this is also true. Their stock market has fallen 40.

The rupal has essentially halved in valuation. If you look at how many dollars uh well, i should say how many rupal the dollar bought. You used to be able to spend 50 rupal by the dollar. Then it turned to 70 ruble to buy the dollar.

Now it's like 107., it's it's absolutely ridiculous, and so uh biden makes a very fair claim here that the russian economy is getting destroyed because of this war and he's not wrong. I mean people are getting stuck in the subways because they can't use apple pay and google pay their currency is losing value like crazy. It's gotten so bad that apple has decided. You know what we're not going to sell in russia anymore.

You know why, folks, it's not because apple's trying to stand up for ukraine, which, okay in part, probably they are because everybody should be standing for ukraine. It's because you know what people do. Is they hoard the apple products by buying them? They use that as an inflation hedge and then they go, sell it on ebay later and then they take away the new customers, so they just use the apple products as a as an inflation hedge right anyway. So uh, then, we now have announced a task force to target oligarchs from the russian economy, but not just target them, but to also seize their assets.

This is quite unique when you conduct sanctions, usually you don't seize assets so seizing russian assets. That's actually a big deal now our forces will not engage, says joe biden in ukraine. However, we will defend every inch of nato. This is a big deal.

Defending nato big big big deal he's also talking about releasing 16 to 30 uh million barrels of oil from our strategic oil reserve 16 from countries and sorry another 30 from the united states. Strategic oil reserve. In fact, check me on those numbers, though, but it's worth noting, that the united states uses about 19 billion barrels. I'm sorry billion 19 million barrels of oil per day.

But if you dedicate these additional - let's say 30 plus 16 to natural gas - or i should say uh gasoline either of those, then you can lower energy costs or fuel costs. So yeah you could actually have a blunting, because oil is used for a lot of things from not just energy but also plastics right. Joe biden got cheers when he said we're going to build from the bottom up and the middle out. He regularly gets cheers on that during the election sort of campaigning period.

He got those as well. He says we're going to repair 65 000 miles of roads and 1500 bridges we're going to build back better, and this is where he really pitches the buildback better plan. The problem is, nobody wants to build a better plan, at least on the republican side, you're, not getting any votes on the republican side and you're not getting joe manchin. Why? Because joe manchin today came out with a whole list of demands and his list of demands were we want american oil? If you want to ultimately deal with the oil crisis, we have, we should ultimately frack our own oil and pump our own oil rather than relying on foreign nations, and this is a position of mansion that, unfortunately, is going to stand in the way of joe biden's.

Buildback better plan uh because joe manchin is really worried about inflation, which we'll talk about inflation in just a moment. First got ta talk about evs ford got a mention for investing 11 billion dollars in electric vehicles, creating 11 000 jobs. Gm got ta mention for seven billion dollars of an investment and four 000 jobs. Guess what didn't get a mention? Tesla no surprise come on my come on.

Why you got to do that to me anyway, no mention of tesla tesla last year spent eight billion dollars. Just on cap x and they create 70 000 jobs, but as usual, no mention of tesla whatever. Then we talked about inflation, though talked about inflation. One third of last year's inflation was due to cars, says joe biden, that's great joe biden.

Unfortunately, jerome powell told us in december of 2021 that inflation had broadened to many more sectors and it doesn't freaking matter that inflation initially started with just cars. Joe biden says we have a choice, to drive down wages and make people poor or here's a better idea. Lower costs, great joe biden well joe biden's answer for lowering costs is the build back better plan, which he says, 17 uh, noble laureate winning economists say, will actually lower inflation problem. Is republicans, don't believe him and not only republicans, don't believe him kirsten cinema and joe manchin are doubtful and it's a problem, so i don't believe that joe biden's buildback better plan is going to pass anytime soon and unfortunately this was really his thesis for fighting inflation.

He didn't talk at all about raising interest rates. He didn't talk at all about the federal reserve, other than saying that the senate should confirm his federal reserve nominees. There was really no talk at all about interest rates or the stock market it was focused on. We should have a fifteen dollar minimum wage.

We should spend more on our build back, better plan, but actually very little at actually fighting inflation. I thought that was unfortunate. However, when he talked about build back better and creating more u.s jobs and producing more jobs in america and not relying on foreign supply chains, guess what he got a chance. He got usa, usa, but you know what the problem is: building stuff in the usa costs more money, which means more inflation, all right, all right right after that, he talked about uh how his plan will lower costs because we're going to build back better we're going To cut the cost of prescription job uh drugs, lower the cost of electric vehicles, lower the cost of medicare by allowing medicare to negotiate and we're going to provide tax credits to weatherize our homes and our businesses.

By increasing our energy efficiency and doubling our investments into solar and wind, look i'm all for weatherizing, i'm all for doubling our investments into solar and wind. But let's be real. Bringing jobs to america does not lower inflation; it probably increases inflation. Then he talks about cutting the cost of child care, how we're not going to increase taxes on individuals making under 400 000.

This was just a campaign pitch regurgitated we're going to close loopholes for the wealthy minimum corporate tax rate. Okay, another uh pitch from his campaign. Then he talks about how the previous administration blew. It basically allowed individuals to steal from the pandemic relief funds, and so now we are going to create a chief prosecutor for pandemic fraud.

This got a lot of cheers. Now. Problem is like 300 members of that session. Were democratic, so you're going to get very, very loud, cheers and quiet booze.

Keep that in mind. Talks about raising the weight minimum wage to 15 talks about extending the child tax credit talked about how we are going to allow you to order more cova tests by going to covatest.gov. This was actually useful if you want to go to kovatest.gov next week. Put it on your calendar, you can order more free tests next week, so i would say, maybe try monday tuesday, wednesday next week, but anyway remember raising the child tax credit or, i should say, renewing and extending the child tax credit.

This provides 300 per child uh under six or two hundred fifty dollars for each child under eighteen. This is fine, but there are a lot of concerns that what the child tax credit is actually doing is encouraging. One half of the family household usual family, dynamic. Assuming that it's two people at home, it is encouraging one person to just stay home and not have a job, because then they can milk, the child tax credit stay within the income threshold and we need more people working, because our unemployment, uh and wage prices are Suggesting that no no to avert a wage price spiral crisis and an inflationary crisis, because of that we need more people working, not less biden briefly mentioned.

This is actually something i mentioned when i was running for governor, which i know a lot of you were like. Oh my gosh, mr flip-flop, governor gosh, california, would have been off terribly okay, maybe others are just the haters hopefully, but anyway the haters are haters anyway. So one of the things that i said is we should not defund the police. We should fund the police like fund, better training, literally what joe biden said so, even though other people have said that before i'm gon na take credit for it.

Thank you, joe biden for uh, paying attention to my campaign, appreciate you anyway. Uh talked about banning assault weapons with high capacity magazines. This is very popular among democrats, but let's be real. Those of us who own firearms, who train with firearms, know that the law-abiding citizens aren't the ones shooting stuff up okay, anyway, uh, then he talks about how we have four big things: to do: one beating the opioid epidemic epidemic yeah.

This is a big problem. Okay, fentanyl is the big issue right now. It's not so much heroin, some of the other drugs. It's fentanyl stay away from that stuff.

It is so dangerous number two taking on mental health geez. What did i talk about during my campaign? In california, how? Why is it that we teach pe in schools, but we don't teach emmy in schools, mental education as opposed to physical education right uh, and he also talked about stopping advertisers from being able to collect data from our children. Interesting supporting our veterans comprehensive health care; they deserve that got a lot of attention and number four making sure we have our advanced research agency for health, especially for fighting cancer and having cancer deaths. I agree with that.

We need to do that, but what did we? Not hear we didn't hear any pressure on the federal reserve, no pressure on interest rates, we didn't hear about tesla, no pressure on interest rates or the federal reserve, i think, is kind of interesting. It means, in my opinion, joe biden, is actually somewhat aligning with the fed in saying hey. Take it easy with the economy. Don't go too harsh.

Let's give some more credits, let's do some more handouts or whatever. That's fine. That's fine, but no massive concerns for inflation. Here, above and beyond, let's pass bill back better.

It's not going to pass! Why? Because joe manchin that 50th vote amongst democrats is interested in expanding local oil production, which makes sense bring that keystone pipeline back lower gas prices. Sure joe biden talked about releasing oil from the strategic oil reserve, but let's be real if we use 19 billion 19 see i i the second time i made this mistake. If we use 19 million barrels a day, what's 16 and 30 going to do for us, what is 46 million barrels of oil going to do for us reduce our uh our needs, for you know two days and a quarter i mean those are total needs, so Yeah, maybe there'll be a little bit of a blunting effect to gas prices what 10 cents. But what did we not hear here a real plan for fighting inflation? We didn't really hear a bipartisan plan for actually getting anything done.

Although his four points were interesting. Cancer and fentanyl fighting and things like this - those are bipartisan, but in terms of real action here, a little disappointed, no clear guidance here on inflation and that's because i think he is diverting to the fed to deal with that and he wants to build back better Plan uh the buildback better plan fast, which i don't think is gon na happen, and now that i'm done with this summary it's time to do something else. Thanks so much for watching we'll see in the next one goodbye.