Attention. You're listening to the top Huff radio show, America's home for conservative not bitter talk radio. Be advised. The content of this program has been documented to prevents and even cure liberalism, and listening may cause you to lean to the right. Here's your conservative but not Bitter host, Todd Huff reading is my friends, and welcome to this hour of the Todd Huff Show. It is as always my pleasure to be here, and if you want to
be part of the conversation, I invite you to do so. You can email Todd at tonhoffshow dot com. You can also text three one seven two one zero twenty eight point thirty. Let just make sure that you include the appropriate amounts of adoration and praise, which as a massive ego. But here behind the microphone here you're going to have to realize that it is pretty high expectations on my side as it pertains to the adoration and praise. But in
all seriousness of my friends, I welcome you to reach out. Just make it count. Some folks don't most folks do. One of the things we're working on. By the way, I get asked on a regular basis folks that want to talk to call in. We are not yet looking to do you know, live callers managing some things here on our side. That could
be something we look at in the future down the road. But one of the things that we are considering looking at is the possibility to call in if you're a member of our Inner Circle program, which we'll be launching here hopefully quite soon. So that's something that is a member you could actually call and be on this this program. So not yet, but it's coming. So today this hour, I want to talk about, you know, what we're lied to about a lot of things. In fact, I just saw headlines
here New York Times ap talking about inflation, talking about inflation. In fact, let's read what some of these headlines say, USA today. Inflation eased to three point four percent in April. It eased to three point four percent in April. CPI data shows what that means for FED rate cuts. Okay, that's fine, but a lot of these headlines are talking about how it's ticked down. I think that's what I think. That's what the New York
Times article said. It said that inflation ticks down. It went from three point five percent in March to three point four percent in April, so they want people to hear the mess is that inflation is going down. But man, there is so much, so much context that is missing on this. First of all, we'll actually we'll break this down. We'll get into this,
we'll get into inflation. I want to play a sound bite from the late great Milton Friedman, the great economist Milton Friedman, which I would encourage you to check out as many things on Milton Friedman. You know, that's something else we could do on the Inner Circle is talk about some of his old I don't know his messages and just he's a was a brilliant guy, brilliant guy that we could learn a lot from. I have learned a lot from Milton Friedman. Many of you may have as well. He's of course
written books. He's used to go remember the old show. This was a show when I was a kid. Donahue, Phil Donahue, leftist Phil Donavue actually had him on and Milton Friedman I think may have broken through on Dona Hue for a couple of things. Anyway, talk about this today because it's
important. We're lied to about this stuff, or we're given just enough information to feel like we know and then we're pushed in the wrong direction, like when they tell us inflation is ticked down, it's still much higher than it was ever when Trump was in office. It's much higher than it was then. It has been in recent years, regardless of who the president has been, unless that president has been named Joseph robin At, Biden or Bribery.
If you prefer, we'll talk about all these things. I'll play a clip from Milton Friedman. And ironically, as I was preparing, you know, I as I had seen, you know, the inflation numbers and just the reality that the FED, the FED has reported an even CNN has picked this up. CNN has said it's not corporate greed that's fueling inflation. By the way, that cannot be what fuels inflation. I'm going to play a clip on that, but I just want to talk about this. We are misled
and deceived about the causes of these things, things like inflation. What is actually the reason that we have it? People conflate terms. It confuses people. And then when people are confused, confused by the way by the very experts that seek to confuse them, so that then the common folks simply say, you tell us what to do, because this is way too complicated for us. We can't keep up and see the mark of someone who really grasps something is to be able to explain it in the simplest of terms. Was
it Jefferson? Jefferson? It was one of our founders said, said, the greatest of all skills I'm paraphrasing, but it's very close to this. The greatest of all skills of that is only of only using one word, is that of not using two words? I should I say that rephrase that the greatest of all skills is that of not you using two words when only one will do. Of course, I want to say to that founder you probably could have said that a little bit shorter, but nonetheless there's truth there.
You really want to communicate clearly, cut through the you know, the nonsense, and cut through some of the bonus words and get down to the core of it. And so that's what we want to do here today, and that's what the experts don't do. So but before we do that, let me tell you about our friends at z Stack. My friends, if you're looking for a natural health supplement, you're looking to take care of your health, you don't trust maybe everything you hear from the medical profession. I'm
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strong. Interested in having Todd speak at your church or event. He's available in more locations than you may think, visit Todd huffshow dot com slash speak for more information. Okay, my friends, so we're told that inflation has ticked down from May, excuse me, from March of this year to April of this year. So why are we just now getting April and April's numbers.
Well, it takes some time to calculate. So basically, each calendar month, about two weeks later, roughly you're going to get some of this data from the previous month. So around mid April you would get the data, we would get the data for March. Around mid May, we would get the data for April. So it's lagging behind just a couple of a couple of weeks. And oftentimes, oftentimes it's important to note this. Oftentimes these numbers are later adjusted, which I know that I know during the Obama
administration, a lot of these numbers. In fact, I think unemployment numbers, it's different numbers of course that are coming out pretending to things like inflation, like employment. But there were many times, almost well almost every time, these numbers if they were if they were needing to be low numbers, for example, say unemployment, the initial number would come out, that's what was reported, that's what was talked about, that that's what was revealed as
the actual reality. But then a little bit later the other numbers would come out and it would be the numbers would be worse, and so there can be games that are played with these numbers. The Obama administration did this routinely, almost I would almost every month, and I think it was unemployment numbers,
but they were doing this with some numbers. But as of right now, what we know is that the year over year inflation rate from April first of twenty twenty three through the end of March twenty twenty four, that twelve month period, the currency inflated at a rate of three point four percent. Now it from the month previous, again, the March numbers, which would
have accounted for any thing. From April first, twenty twenty four through March thirty first, excuse me, twenty three of April to March thirty first of twenty four, inflation during that period of time was three point five percent. And so now they're saying inflation is going is going down, and that's what people will take and run with. That's what Biden will say, That's what
the pundits in the media will say. But that, of course is just a portion of the story and it's not anywhere near the full picture of reality. In fact, I'm gonna look up right now, I didn't pull this up. I'm just looking at inflation rate, rate of inflation. Let's look at as abs I'm talking here. I'm gonna try to do this rate of inflation just historical, so we'll look at that. Once I get that pulled up, I'm the world's worst multi asker here, but we're going to we're
going to try to pull this up. So I found it here, so let me kind of get my bearings as I'm looking at this here. But inflation is a phenomenon that is created exclusively by government. It is let me say that again. It's a phenomenon that is created and not just by any government, specifically by the federal government. Federal government. I got to sound by it here from the late great Milton Friedman, who I again have great, great admiration for this man. So he's gonna this is a thirty second
clip. This is an older clip. You know. Milton Friedman did his best to educate the American people on inflation. Milton Friedman did his best to explain who is the culprit, how this impacts people, what the risks are, and how we need to address it to fix it. Inflation is our government's subtle way of stealing from you. It's subtle because they're not coming in and withdrawing money from your account. They're not sending you an invoice for a
higher tax rate. They're not you know, raising your individual tax bracket rate. They're not doing any of that, they're not sending you a notice saying, hey, your property taxes are going up. You know, people genuinely
typically don't like that. That's not a good thing. Fact, property taxes around here in my state, at least locally, have been an issue in recent in recent years because the property taxes are based upon based upon the assessed value, and of course the assessed value of what homes costs has been going up. In fact, I believe I saw since the pandemic, housing prices have increased. I think I saw fifty percent since since twenty twenty. That's
just what four years, roughly four years and so. But inflation is one of these things that just it weakens the buying power of your dollar without really assigning blame. There's no direct notice that says, hey, by the way, this was caused because the government printed too much too much money, and that is one hundred percent the reason that there is inflation, Make no mistake about it. It is not because it cannot be because of corporate greed.
I suppose there could be cases of corporate greed. That, by the way, is why we went competition in the marketplace. If you have people who are competing and of course, price is a determining factor as to what people will purchase. Then if those competitive forces will help keep prices in check, if a competitor will sell something at half the price, it doesn't mean that the product that's at half the price should be the one that a consumer buys.
But if it's relatively close to the same and it's twice as much, the average person is not going to is not going to buy it, and that's going to create create that kind of check and balance on on the overall, uh, you know, pricing of things. So but there can certainly be corporate greedy people in corporate America. I'm not there going to be greedy people in all assmen and nonprofit America. By the way, we talk as though nonprofit is the holy side of the economy. I always find myself asking
who do you think funds the nonprofit world? It's those greedy capitalists, right, I mean, that's how that that's how that works. But anyway, I want to play play Milton Friedman here in just a minute. But ironically I want to tell you about before I do that, our friends at Harvard Gold Group and I didn't plan this, but as I think about it, as we talk about inflation, as we think about gold, as we think about the economy, how gold is often viewed as a hedge against inflation.
There's sometimes gold now is at a high high price, at or near an all time high, and there can be a myriad of reasons for that, but one of those is that when the currency is inflated, then oftentimes that can cause the price of more people to go into move into gold to try to hold the value of their currency better. I mean, there's a whole bunch of factors here, but gold has outperformed the S and P five hundred
and the Dallas since nineteen seventy one. And all the folks who are in charge of or who support the Fiat paper money system, the money system that's no longer backed by gold. All of those folks, all of the institutions, all these government entities, all these countries and central banks, even the IMF, the International Monetary Fund, they all own some financial amount of gold.
So if they have that, and they're out there pushing and telling us how great the Fiat paper money system is and they still have gold, then doesn't make sense for you to have it as well. While my friends go to Harvard Gooldgroup dot com slash Todd. Go to that side, and you can actually get a free report on just what it means, what it means to own gold, understand the thinking behind it, why it's a why it's something you may want to look in. There's a free report that you can
get at Harvardgoldgroup dot com. And if you decide to move forward with the purchase with Harvard Gold, you can use my name Todd and save two hundred and fifty dollars. You'll get a credit of two hundred and fifty dollars Harvard Gooldgroup dot com promo code Todd. So let's listen to this SoundBite from Milton Friedman. He's gonna tell us the cause one percent of the time of inflation, and it's not the consumer. It's not greedy corporate America. It's not
trade unions, it's not state governments. No, no, no, it's none of those things. It is one of the time our federal our federal government. Listen to what he says, inflation is made in Washington because only Washington can create money, and any other attribution to other groups of inflation is wrong. Consumers don't produce it. Producers don't produce it. The trade unions don't produce it, foreign sheeks don't produce it. Oil imports don't produce it.
What produces it? It's too much government spending and too much government creation of money and nothing else. There you go. What creates it is too
much government spending and too much creation of money and nothing else. This problem is exclusively a Washington, DC problem, no matter how many times, no matter how much people like Joe Biden or your favorite Republican in Congress or whatever, how much they point at somebody else, at greedy corporate America, at the consumer for doing something they shouldn't have done, at anybody else, at the unions, at state governments. No, no, no, that is
not the cause of inflation. It is one hundred percent, one hundred percent the responsibility or the I guess I should say the consequence of our federal government spending too much money and then creating too much money supply one hundred percent and headline here. I referenced this in a previous hour national polls. This is reported at CNN as well. FED report. Corporate greed is not fueling inflation, as Biden claims. Despite the Biden government's claims that, to the contrary,
corporate price gouging has not been driving rises in US inflation. According to research published by the Federal Reserve Bank of San Francisco, San Francisco, of all places on Monday, the Biden regime has attempted to blame inflation on corporate
corporate America by deploying terms like greedflation and shrinkflation. Now, although markups, the article says here, were observed in twenty twenty one and twenty twenty two for vehicles and petroleum products, markups across all US goods and services have been relatively flat post pandemic. As such, rising markups have not been a main driver of of the recent surge and subsequent decline in inflation during the current recovery,
wrote bank researchers. Data for the current recovery show that the increase in corporate profits is not particularly pronounced compared with previous recoveries. They wrote, again, this is the FED itself. Markups also have not played much of a role in the slowing of inflation since the summer of twenty twenty two. So
a couple of things that play here. Number one, and I've mentioned this on this program before there is an attempt there is an attempt to I would say, I would say, in general, dumbed down the American voter, because the more that we are confused by the games and shenanigans that they're playing, the less desire we will have to hold these jokers and clowns accountable. But the reality is, the reality is is that they are playing a game with us, not every time. There can be many reasons. Let's say
this way. There are many reasons why something can increase in price. Let's say the gasoline prices. That's that's a great example. Gasoline prices can go up and down for a lot of factors. For example, how easy it is to bring it to market, what the refining standards might be for a certain time of a year. What taxes are here in my state, taxes fluctual. Well, taxes are based upon the previous month's average gasoline price, and so if it was a high monthy, the taxes may skyrocket. So
there's a myriad of factors. There's more, and I'll reset this up when we get back from the break, But I gotta take that break. Got to take a break talking about inflation, because they're going to tell you it's coming down. It's not. I'm going to look at the historical numbers. And they're also telling us, well, they're confusing us, or trying to confuse us on what inflation really is, trying to blame anyone but the federal
government. The federal government is one hundred percent. Do not doubt this, one hundred percent absolutely responsible for inflation. Nobody else put themselves to look in the mirror. Quick time out, my friends. Back in just a minute.
Come back to my friends. We're talking about inflation. And the reason we're talking about inflation is because the Biden administration has been telling us for a long time that the and the left left in general has been blaming corporations, greedflation, shrink inflation, all of these things that they are using as terms to try to catch on with the American people to blame someone else. Besides, they're absolutely ridiculous and despicable economic policies and ideas. They want to blame
somebody else. They want to blame corporate America, They want to blame anybody that they can other than take the responsibility. But that's simply not what causes inflation. I understand that there are Keynesian economists out there who live in a fantasy world, who believe that well, first of all, the government can do no wrong. That's kind of the starting premise of Knesy economics. But secondly, secondly that there are other explanations for this. But Milton Friedman is
absolutely right, and I played that clip last segment. Milton Friedman is absolutely right. What causes inflation is government spending and then the government creating too much money. That's what they do. They do it to subtly steal from you. They don't want to raise your tax rates. They get tired of having to deal with complaining, and they don't want to be held responsible for directly raising your taxes in an election year because they don't want to be held accountable.
But instead, what they'll do is create a situation. And I don't know how many of them even know this, to be quite honest. I mean, they simply are trying to buy votes. And in the process of trying to buy votes by spending massive amounts of money to the federal the federal government, but eventually running out of people to take that money from to pay for things, they end up creating too much currency. That's what happens,
Milton Friedman has hit the nail on the head. That is one hundred percent the explanation of this, and I'll talk more about this in a minute. But my friends, if you are currently using tobacco products, smoking, faping, if you are chewing tobacco, let me tell you about Nicknack Naturals. They are here to help you crush your vice. They've created a mint that is discreete it is odorless, it is tiny, It fully dissolves in your mouth, so you don't have to deal with the messiness of smoking, of
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at nicknack dot com. Use promo code todd You'll save fifteen percent during check out. So this fine over inflation, they've blamed the administration is blamed corporations. Now, I'm not here to defend corporations, that's not at all my intent. But I am here to tell you. I am here to tell you that it is erroneous and dangerous to blame inflation on corporations every time that prices increase. I started to talk about this before the break. Just because
price increases does not mean it's inflation. We have we have allowed them to kind of do a bait and switch on us with this. Inflation is referring specifically to the price is increasing because of a particular reason, and that reason is that there's too much money in the that's been created by the government.
And the reason they created too much money was because they spent too much money, and so they have to come up with it somewhere, and so they just basically produce it out of thin air, and they produce too much of it because there was not a corresponding real value created in the economy that would justify the creation of the of the currency, and so that's what causes it. So by definition, corporations are not responsible for this. That doesn't mean
corporations can't be bad corporation. These things can both be can both be true. Corporations can be cutting the size of the products that they're selling on the shelf, trying to deceive you, trying hoping you don't notice that you're getting a smaller amount of chips or laundry detergent or whatever they're hoping to deceive you on that so that you are paying the same price but getting a little bit less, or maybe paying slightly more but also getting slightly less at the same
time. That doesn't mean that that's not also happening, but that is not inflation. That is something altogether different that is trying to fool the consumer. In the case of gasoline prices, there can be a bunch of reasons why
the costs that the price of gasoline at the pump can increase. If we were God forbid to go to war in the Middle East, and it appeared that supply chains getting oil from the Middle East to the United States, if it looked as though that was going to be a problem, then there's a good reason or a good chance that gas prices would would shoot up if there
was a problem with a particular refinery in the United States. There's a good chance that prices would shoot up if there was which all these things are basically just a decrease in supply if the supply was to be disrupted, not for reasons of inflation, but because of who knows. I mean, maybe the Iranians and the Huthis and all of the Iranian proxy groups decided to prevent oil
rigs from leaving the area. That could of course directly impact the cost of gasoline at the pump, having nothing to do with inflation, that's not inflation. That's an increase of the cost of gas, but it may have nothing to do with inflation. Inflation is a very specific thing, and that is what is important to understand here. Inflation is a specific thing, and it is one hundred percent the responsibility of the federal government. It's not because of
consumers engaging in behaviors that are not helpful for the economy at large. Consumers can certainly play games as as well. I mean, individual people can make decisions. I mean, can can do things that maybe maybe are illegal in some cases maybe you know that they can, or maybe just do things that people generally frown upon. You know, they if they were to buy and to ward a bunch of stuff. Remember this happened with with toilet paper back
during COVID. Individual consumers were afraid they weren't going to have toilet paper. I don't know why it was that particular product in general, but that's the one of the ones that it was, And so people were buying toilet paper every chance they got, taking it off of shelves left and right, and that of course led to almost a black market for toilet paper. I think there was from what I remember, I think you could go online or go
to Facebook, people were selling selling toilet paper at massive markups. While that would be you know, you might say that's questionable or whatever. You may not like that. I'm not even here to get into that. But that's not inflation. That's something else. That's something else that's going on altogether.
Inflation is something very specific. Inflation is government spending too much money and then creating too much money in return to cover the cost of their ridiculous expenses, and so they're lying to us. Biden was always lying when he said that corporate greed was what was fueling inflation. Corporate greed cannot create that. Corporate
greed can increase pricing. But according to the owner, the government's own important the FED report here, there is apparently little to no evidence to show that that's actually what is happening. What is driving inflation is an out of control government that's being run today by the Democrat Party and Rhino Republicans, and an administration candidly that has a that's impacted a lot by the radical left. That's
what inflation, my friends. Anyway, this is a good segue to to tell you about my friends at my USA shop club dot com, My USA shop club dot com again, my USA shop club dot com. If you are tired of some of these games at corporations still play. Even though even though the report says corporate inflation, our corporate greed is not fueling inflation, which it can't. They still can play games, They still can play games
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you know, changed their prices dramatically or whatever. They've just tried to survive this hellish economy created by Biden. These big corporations are almost certainly still sending money to get Biden and the folks that are at actually the problem causing this mess to begin with. These are the same folks when you buy from these big corporations that are being reelected with the dollars of these corporations. So why
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based company. They believe in health and patriotism. We buy products from my USA shop club dot com and I think you should consider it as well, my USA shop club dot com. That's my USA shop club dot com. Quick timeout is in order, my friends, sit tight. You're listening here to conservative not better talk. I am your host, Todd huff back in a minute back to my friends. So totally coincidentally, I was actually when I saw that article where the FED said that corporate greed was not what was
fueling inflation. Biden was factually wrong. Biden was lying to us when he said that what's responsible, who's responsible for this is the federal government solely, including Joseph Robinette Bribery. They are the ones who are responsible for this. But as I was preparing to talk about that, it reminded me of Milton Friedman. I looked up I found that that that SoundBite that I played earlier
for Milton Friedman. But as a kind of a I guess a coincidence I saw on the Bongina Reports this story the twenty five best quotes from legendary economist Milton Friedman, written by a gentleman named John Hawkins, who had interviewed Milton Friedman back before he passed away. He interviewed him in September of two thousand and three, and so he's got the twenty five best quotes that he could find from Milton Friedman. And I've got a few minutes here, so let's
look here. Let's look here at the top five. I'm tempted to say the top ten, but I know I'm going to have things to say about this number five. When everybody owns something, nobody owns it. Oh, I love this, by the way, And nobody has a direct interest in maintaining or improving its condition. That is why buildings in the Soviet Union, like public housing in the United States look decrepit within a year or two of their construction. When everybody owns something, nobody owns it. And so when
nobody owns it, then there's no personal responsibility. And that is a absolutely, an absolutely fantastic quote. That's spot on, that's spot on correct. There's so many things can can spin off from that, by the way, great quote, spot on, and it's a fundamental truth, fundamental truth, and it's why. It's why the private ownership of property actually is a very good thing. One of the many reasons why number four. Nobody spends This
is absolutely true. You see this happening every day. Nobody spends someone else's money as carefully as he spends his own. Nobody else uses somebody else's resources as carefully as he uses his own. So if you want efficiency and effectiveness, if you want knowledge to be proper really utilized, you have to do it through the means of private property. When it's yours, when it belongs to you, when you're in charge of it, when when it impacts you
know whether or not you're going to have more or less. When there's a direct link to you, you're going to manage it. You're going to manage it better. Nobody spends someone else's money as carefully as he spends his own. That's what happens in our government. That's why we spend money on stupid, stupid stuff on a regular basis. Number three again, going through quotes here the twenty five best quotes from Milton Friedman, according to writer John Hawkins.
Here, if you put the federal government in charge of the Sahara Desert in five years, there'd be a shortage of SAand you know, I mean, it's it's true. They they want to manage and control everything. They think that there's a committee, they think that there's a Blue ribbon commission. They think that there's somebody there who's smart enough to just be able to manage
the totality of everything. When in reality, when in reality, if individuals are responsible for just have personal stake in say the Sahara Desert in his analogy here, it's so much more profitable, so many more good things will come out of it than government management. It would be mismanaged to the point there would be a lack of sand in five years, says says Milton Friedman Number
two. I do not believe. He says that the solution to our problem is simply, this is interesting, by the way, is simply to elect the right people. The important thing is to establish a political climate of opinion which will make it politically profitable for the wrong people to do the right thing.
That's powerful. Let me say that again. The important thing is to establish a political climate of opinion which will make it politically profitable for the wrong people to do the right thing unless it is politically profitable for the wrong people to do the right thing. The right people will not do the right thing either, or if they try, they will shortly be out of office.
Oh my goodness, is that not what's happening in this country today. Politically profitable to do the right thing, even if you're the wrong person versus you're the right person, it's profitable to do the wrong thing. Many people fall into that temptation. How many times have we seen that people going to Washington, d c. With the right intentions only to be tempted maybe the right person, we think, only to be tempted to do the wrong thing because
it profits them to sell their soul. Basically, and number one, inflation here it is. This is what we've been talking about today. Inflation is always and everywhere a monetary phenomenon. Now, the larger context of this is that it's the government that creates it. It's not businesses, it's not trade unions, it's not the consumer. It's not greedflation, it's not shrink flation.
That's not defending any of these things. It's simply saying that the cause of inflation is always That is a definitive term to mean, in every instance and everywhere that's to me. No matter where you are on planet Earth, in the United States, in Saudi Arabia and Argentina and Iceland, wherever, it's always a monetary phenomenon caused by the government itself. I gotta go, my friends, have a great day. Stg.