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Tucker Carlson: Why does Janet Yellen still have her job? - YouTube
Channel: Fox News
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good evening and welcome to tucker
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carlson signed happy tuesday it was six
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years ago and one of those
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semi-hilarious moments that has
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unfortunately been lost to history that
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janet yellen sat through what must have
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been the single most uncomfortable
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congressional hearing of her life at the
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time you may remember yellen was running
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the federal reserve and she was as she
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remains today a lifestyle liberal in
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good standing
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so put yourself in her position and
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imagine the shock she must have felt
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when members of the congressional black
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caucus suggested that she janet yellen
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was in fact a racist maybe even a white
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supremacist what did jenny ellen do
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wrong well they suggested what she did
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wrong was she failed to harness the
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power of the federal reserve to help
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african americans
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now at first yelen seem confused by this
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complaint the point of the fed is to
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keep the american economy stable the
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point is not to pay off loyal blocks of
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democratic voters and she tried to
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explain this our powers she said can't
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be targeted at the experience of
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particular groups
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that was her response but the
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congressional black caucus did not buy
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it
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their message to janet yellen was the
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same as their message to you and every
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other person in this country of 350
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million people do what we say we'll
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denounce you as a racist
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and finally janet yellen got that
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message boy did she within a year yellen
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had all but abandoned the traditional
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constraints of monetary policy instead
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there she was yammering on in public
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about things like racial equity and
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environmental justice
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now those are issues that unlike
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economics cannot be quantified or even
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specifically defined and they are
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therefore perfect vehicles for
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power-hungry politicians hoping to
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become more powerful now yellen was
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supposedly an economist but as she
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turned 70 she left the field of
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economics completely and entered the far
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more familiar world of political
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activism
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by the time she became joe biden's
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treasury secretary the transformation
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was complete among yellen's first acts
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as treasury secretary was an order
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changing the mission of the treasury
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department's financial stability
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oversight council
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now that council was created by congress
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after the last financial crisis as its
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name suggests to prevent something
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similar from ever happening again and
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for about a decade it focused on
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questions that might prevent another
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meltdown questions like subprime lending
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and automated trading on wall street
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relevant questions
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but under janet yellen the council
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turned its attention to a far more
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fashionable issue that she was consumed
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with global warming
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quote we must look ahead at emerging
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risks yellen proclaimed climate change
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is obviously the big one she sent a
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letter to the world bank telling them
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the same thing
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as for inflation which traditionally was
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a core concern of government economist
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that was the emerging risk they were
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worried about yellen just shrugged that
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off inflation if that happened she told
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us in a now famous quote it'll be quote
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transitory
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in the history of bad predictions from
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washington which could fill volumes that
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might take first place
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in fact since joe biden became president
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the price of gasoline has doubled and so
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the prices of many other key commodities
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that americans need to live
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and the worst part is that not only did
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janet yellen the treasury secretary
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failed to see any of this coming
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janet yellen more than any other single
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person in america caused it in the first
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place through reckless loose money
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policies implemented during her years at
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the fed policies that were bound to
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cause inflation
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and did
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so if you're mad about the current state
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of the economy janet yellen is probably
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the first person you should blame why
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does she still have her job
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it's a good question
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and we might have heard an answer to
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that because yellen was back in front of
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congress today but this time there were
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no tough interrogatories from the
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congressional black caucus no one called
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her a racist
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and said they kissed up to her as yellen
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explained to a deeply sympathetic room
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of members of congress the real problem
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with the american economy is that she
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and the democratic party don't yet have
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enough control over it watch look over
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the medium term the critical thing is
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that we become more dependent on the
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wind in the sun that are not subject to
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geopolitical influences and passing
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clean
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energy credits that will boost
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non-renewables
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is i think really
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really critical to
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um
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to to to addressing climate change and
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our energy costs for households
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so just for fun if you have five minutes
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rewind the tape transcribe what she just
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said and see if you can make sense of
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the verbal bully base what are you
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looking at it's called
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intersectionalism it's the new religion
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of government and it allows bureaucrats
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when it becomes clear they have no idea
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what they're doing to just pivot and
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talk about something they know even less
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about
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so here you have janet yellen talking
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about geopolitical influences clean
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energy credits climate change
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what is janet yellett talking about well
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she has no idea
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the problem is that there are people out
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there who actually do understand what
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she's trying to talk about experts
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actual experts have studied the
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sustainability of renewable energy for
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years michael schellenberger for example
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found that from 2011 to 2017 the cost of
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solar panels dropped by more than 70
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percent in this country there are more
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of them it's a supply and demand
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question but here's the interesting part
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during that same period as the cost of
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solar panels fell electricity prices in
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california went up five times more than
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they did in the rest of the united
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states why more solar panels the solar
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panels were cheaper but the electricity
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they produced was more expensive huh
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how does that work and how is it helping
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you we know it happens because it
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happened in germany at scale
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from 2006 to 2018 that would be the
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heyday the peak years of germany's big
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renewable energy push electricity prices
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went up
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50 percent
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now why'd that happen well let's compare
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it to a neighboring country in france
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electricity prices were much lower than
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germany's even though france gets twice
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as much of its energy from clean energy
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sources as germany does
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what
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what made france so special how'd they
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pull that off
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simple nuclear france gets a lot of its
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energy from nuclear power janet yellen
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does not consider nuclear power a
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renewable when she says renewable she
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means wind and solar which by definition
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are not reliable sources of energy but
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they are and this is always the key
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highly profitable to democratic donors
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and the government of china
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so of course janet yellen is for them of
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course ellen didn't go into details on
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why she thinks what she does because if
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you unpack it if you slow down and speak
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clearly it doesn't make any sense
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and janet yellen knows that she's an
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activist she gets that logic is
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irrelevant
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thinking clearly no that gets you
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nowhere emotion is what carries the day
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and that's why during today's
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congressional hearings she started
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talking about yet another topic she
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knows nothing about gun crime
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i am also horrified by gun violence
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what we've seen in recent weeks over and
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over many years and i do hope that
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congress will take long overdue action
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and
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put in place common sense measures to
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reduce gun violence
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well i'm horrified about gun violence uh
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i'm sorry ma'am you're the treasury
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secretary shh
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let's talk about the economy which is
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imploding stop with your little abortion
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talk your little gun talk not your area
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let's get back into your lane
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you're the treasury secretary
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but of course she doesn't want to the
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goal always is to talk about anything
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other than the economy why because they
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destroyed the economy but there was one
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exception
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at one point janet yellen was asked
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because it's a pretty obvious question
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how exactly as the treasury secretary
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and former fed chair as an economist and
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a genius
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how did you miss the inflation you
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caused
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here it went
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i said that inflation would be
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transitory what i was not anticipating
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was a scenario in which we would end up
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contending with multiple variants of
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kovid that would be
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scrambling our economy in global supply
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chains and i was not envisioning
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impacts on food and energy prices we
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have seen from russia's invasion of
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ukraine so
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israel powell
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indicated himself
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both of us probably could have used a
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better term than transitory i do expect
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inflation to remain high although i very
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much hope that it will be coming down
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now
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oh so you didn't see covid coming even
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though it was here for two years and we
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shut down the entire economy and then
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made up for the gap in productivity with
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profligate government spending where we
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just printed trillions of fake dollars
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but you didn't think that was going to
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cause inflation somehow and you didn't
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think a war in the bread basket of
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europe would affect food prices
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let's say you were a talk show host on a
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cable channel with no economic
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experience whatsoever or even the
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ability to balance a checkbook and it
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was obvious to you
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but you're the treasury secretary but
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you didn't see it coming maybe you
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shouldn't have called it transitory
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and your answer is and we're quoting i
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do expect inflation to remain high
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although i do very much hope it will be
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coming down oh you very much hope is
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that where we are we are very much
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hoping
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tell us more about abortion and gun
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violence if you would
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blame kovid and putin and call it a day
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is a joke
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fox's hillary vaughn to her credit was
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not convinced she asked janet yellen
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whether joe biden's decision to spend
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trillions of dollars might have
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contributed to inflation because like
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when you have more of something it's
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worth less like your currency which is
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almost worth less
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and here was janet ellen's response
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you ever warned the white house that
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increased government spending could have
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contributed to the inflation that we're
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seeing today
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okay
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we're just heading to the coffee oh
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go away peasant troll your inflation
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talk i'm worried about climate change
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and gun violence and abortion leave me
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alone it's not like the treasury
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secretary be gone
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she should be gone this is crazy
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and in a functioning country janet
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yellen would be in a retirement home
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somewhere writing her memoirs that no
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one would ever read
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but that's not what's happening she's
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still the treasury secretary and that's
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not what happened today
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instead democrats took turns bragging
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about their expensive electric cars
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worried about gas prices just get a
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tesla baby
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here's senator debbie stabenow of
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michigan
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well good morning manor sector we're so
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glad to have you with us i do have to
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say just on the issue of
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uh gas prices after waiting for a long
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time to have enough trips in this
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country to finally get my electric
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vehicle i got it
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and drove it from michigan to here uh
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this last weekend and went by every
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single gas station and didn't matter how
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high it was and so i'm looking forward
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to the opportunity for us to move to
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vehicles that aren't going to be
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dependent on the
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whims of the oil companies and the
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international markets
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yes
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because electric cars don't actually use
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energy so they're disconnected from the
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international market hey debbie seven
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what's an international market you have
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any idea whatsoever do you know anything
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you're telling us that the oil companies
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are so greedy they somehow canceled
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their own leases for joining they're so
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greedy they don't even want to drill oil
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and that's why they shut down their own
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pipelines is that right and that's why
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they're talking about implementing a gas
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tax
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because they don't want you to use oil
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right
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what's the reasoning here debbie stab i
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know maybe we should
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contact janet yellen maybe she'll answer
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maybe she'll just wave us away like the
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peasants we are
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what's going on here how can this person
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be our treasury secretary we're in deep
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waters is there anyone who can pull us
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out of them
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subscribe to the fox news youtube
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channel to catch our nightly opens
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stories that are changing the world and
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changing your life from tucker carlson
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tonight
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