VIOLENT EXTREMISM IN BUFFALO VOTERS GO BACK TO THE POLLING PLACE AND DID SOMEONE SAY "STAGFLATION?"

STAY TUNED, IVORY TOWER IS NEXT.

NOTE ♪ ♪ ♪ ♪ ♪ ♪ ♪ GOOD EVENING.

WELCOME TO IVORY TOWER.

I'M DAVID CHANATRY, FROM UTICA UNIVERSITY.

THIS WEEK ON THE PANEL WE HAVE ANIRBAN ACHARYA FROM LEMOYNE COLLEGE, LUKE PERRY FROM UTICA UNIVERSITY, TY SEIDULE FROM HAMILTON COLLEGE AND RICK FENNER FROM UTICA UNIVERSITY.

IT'S BEEN A WEEK SINCE A YOUNG WHITE MAN ARMED WITH SEMI-AUTOMATIC WEAPONS TARGETED BLACK SHOPPERS IN A BUFFALO SUPERMARKET.

AS WE'VE LEARNED SINCE, THE SHOOTER MARINATED IN THE UGLY RACISM FOUND IN THE DARKER CORNERS OF THE INTERNET.

HE METICULOUSLY PLANNED HIS ATTACK AND HOPED TO KILL EVEN MORE PEOPLE, BECAUSE THEY WERE BLACK.

IN THE STATEMENT HE POSTED TO THE WEB BEFORE THE ATTACK HE CITED FEARS THAT WHITE PEOPLE ARE BEING REPLACED BY PEOPLE OF COLOR.

WHERE IS THIS IDEA COMING FROM AND HOW DO WE COMBAT SUCH VIOLENT POPULISM?

AND VIOLENT EXTREMISM?

>> THIS IS REALLY VERY UNFORTUNATE AND IT'S NOTHING NEW.

THERE IS A VERY LONG STANDING HISTORY OF ABSOLUTE VIOLENCE AGAINST BLACK AMERICANS.

AND YOU KNOW, THIS REPLACEMENT THEORY, YOU CAN REFER TO LIKE MANY, BUT OF LATE, TUCKER CARLSON AND NEW YORK TIMES IS CARRYING THIS ARTICLE WHERE IN 400 EPISODES HE IS USING WORDS LIKE LEGACY AMERICANS BEING REPLACED BY, YOU KNOW, PEOPLE FROM THIRD WORLD COUNTRIES THAT ARE FROM FAR AWAY COUNTRIES AND THEY'RE APPARENTLY VERY MALYAIBL AND NOT GOING TO VOTE AGAINST THE GOVERNMENT AND SO ON.

THIS HAS BEEN PROFESSED NOT IN THE DARK CORNERS OF THE INTERNET.

QUITE WIDELY.

ONE OF THE WIDELY WATCHED SHOWS AND THE WAY TO TACKLE IT IS TO EDUCATE OUR YOUTH, WHAT WHITE SUPREMACY IS AND HOW IT WORKS.

BUT WE WILL SEE THERE ARE MANY PEOPLE ON THE RIGHT WHO DON'T WANT TO TALK ABOUT ANTIRACISM.

TED CRUZ WAS WAVING THIS BOOK AT THE HEARING OF JUDGE JACKSON WHICH WAS CALLED ANTI-RACIST BABY AND THAT'S A WRONG BOOK.

WHAT DO YOU WANT TO HAVE?

A PRO-RACIST BABY?

IT'S VERY UNFORTUNATE THIS IS HAPPENING.

IT IS ATTACK AGAINST EDUCATION AND PROPAGANDA TOWARDS VIOLENCE AND BLACK PEOPLE.

>> AS YOU MENTIONED, THE FOCUS ON DIVERSITY, EQUITY AND INCLUSION HAS BECOME MAINSTREAM NOT ONLY IN EDUCATION BUT IN THE WORKPLACE AS WELL, WHICH I THINK, OVER TIME, WILL HELP WITH THESE TYPES OF CHALLENGES.

BUT THERE IS A DUAL TRACK GOING ON HERE.

YOU'VE GOT THESE IDEAS BECOMING REPLACEMENT THEORY BECOMING MORE MAINSTREAM ON THE ONE HAND AND BECOMING MORE EXTREME IN TERMS OF VIOLENCE ON THE OTHER HAND.

AND I THINK THAT'S VERY DIFFICULT TO MANAGE.

IN THE SHORT-TERM, I LOOK AT THE RED FLAG LAW AND WONDER WHY SOMEBODY LIKE THE ALLEGED SHOOTER GOT A GUN IN THE FIRST PLACE?

AT THE AGE OF 17, HE WANTED TO COMMIT A MURDER SUICIDE AND THE LAWS WERE IN PLACE TO TRY TO PREVENT HIM FROM PURCHASING A FIREARM A YEAR LATER AND THAT DIDN'T HAPPEN.

>> TY, WHAT... >> I'M HEART SICK.

HEART SICK ABOUT WHAT HAPPENED TO THAT COMMUNITY IN BUFFALO, HEART SICK FOR THE VICTIMS.

HEART SICK FOR AMERICA.

UNFORTUNATELY RACISM IS AS AMERICAN AS APPLE PIE AND IF WE LOOK OVER THE LAST FOUR YEARS, WE SAW SIKHS KILLED IN WISCONSIN, A JEWISH TEMPLE SHOT IN PITTSBURGH, CHARLESTON OCCUR WITH A WHITE SUPREMACIST THERE.

WHITE SUPREMACY IS A PROBLEM IN THIS COUNTRY AND IT REQUIRES EVERY POLITICIAN TO ACT, TO SAY SOMETHING ABOUT THIS.

THIS IS WHITE DOMESTIC TERRORISM AND IT'S GOT TO BE CALLED OUT NOW AND EVERY TIME IT HAPPENS.

AND IT JUST MAKES ME MAD AS HELL THAT WE CONTINUE TO HAVE THIS PROBLEM WITH WHITE PREMCY AND SUPREMACY AND IT REQUIRES ALL OF US AT "IVORY TOWER" AND POLITICIANS TO CALL IT OUT.

>> THE PROBLEM IS SOME OF OUR OWN LOCAL POLITICIANS, STEFANIK FROM NEW YORK, SHE IS, YOU KNOW, PROMOTING SOME OF THESE REPLACEMENT THEORY IDEAS AND THEY TRY ON THE OTHER HAND TO SAY THEY'RE AGAINST VIOLENCE.

THEY'RE NOT FOR WHITE SUPREMACY BUT IF YOU LOOK AT REPLACEMENT THEORY, IT IS, I THINK, BY NATURE, RACIST, THEY'RE SAYING THAT ELITES, JEWS IN MANY CASES ARE CONSPIRING TO REPLACE WHITE VOTERS WITH COLORED VOTERS.

WHAT CAN BE MORE BIGOTED OR RACIST THAN THAT KIND OF A STATEMENT?

>> IF YOU LOOK AT THE GROWTH OF REPLACEMENT THEORY THROUGHOUT THE WEST, IT'S TIED TO IMMIGRATION AS WELL, WHICH OBVIOUSLY IN AMERICAN POLITICS HAS BECOME A SIGNIFICANT ISSUE AND I THINK UNTIL THAT SUBSIDES THESE TYPES OF THINGS WILL HAVE MORE TRACTION, UNFORTUNATELY.

>> NOW THERE IS-- I MEAN YOU MENTIONED REPRESENTATIVE STEFANIK'S AND SHE HAD TWOATED THAT, YOU-- SHE TWEETED THAT IT IS A FACT THAT THE NUMBERS OF NON-WHITE PEOPLE ARE INCREASING.

AND TO THAT EXTENT, THAT'S ACTUALLY TRUE, RIGHT?

>> BUT REPLACING... >> BUT IT'S OBVIOUSLY DONE FOR VOTERS, WHICH-- >> FIRST OF ALL, IMMIGRATION IS PART OF THE ISSUE BUT ALSO THERE ARE DIFFERENCES IN BIRTH RATES.

AND SO WE ARE SEEING, YOU KNOW, THE HISPANIC POPULATION GROW MORE IN THE UNITED STATES BECAUSE OF HIGHER BIRTH RATES.

SO TO ADD THIS CONSPIRACY THEORY TO WHAT IS, YOU KNOW, DEMOGRAPHIC CHANGE THAT WE HAVE BEEN SEEING, I THINK, AGAIN, GETS TO THIS DIVISION THAT, YOU KNOW, REALLY IS BEING PROMOTED IN THE REPUBLICAN PARTY AND REALLY WORK ON PEOPLE'S FEARS.

WE LONG HAD MISTRUST OF IMMIGRATION AND THINGS LIKE THIS.

THE FACT THAT IT'S GONE AS ANIRBAN HAS SAID FROM THE DARK PART OF THE WEB TO, YOU KNOW, DISCUSSION ON THE MAIN NEWS NETWORKS IS, I THINK, ESPECIALLY SCARY.

>> IT'S NATIVISM AND IT'S NATE NATIVISM THAT GOES FROM THE 1965 LAW OF WHITES ONLY TO OPENING IT UP TO LATIN AMERICA, AFRICAN.

SINCE THOSE LAWS HAVE CHANGED, THERE HAVE BEEN FOLKS THAT HAVE LOOKED AT IT AS A THREAT.

BUT AGAIN DIVERSITY IS OUR STRENGTH AS AMERICANS.

OUR SUPER POWER IS THE ABILITY TO BRING IMMIGRANTS IN AND THIS IS SOMETHING WE SHOULD, THIS IS SOMETHING WE SHOULD TRUMPET, NOT REACT WITH NATE NATIVISM.

>> REPUBLICAN LEGISLATURES AROUND THE UNITED STATES IS ADDING POWER TO THE RACISM IN THE FORM OF STAND YOUR GROUND LAWS WHICH ARE EXTREMELY ALARMING.

WE LOOK THE MASS SHOOTINGS, WHITE PEOPLE ARE SIMPLY GUNNING DOWN BLACK PEOPLE AND CLAIMING THEY'RE BEING HURT OR THREATENED AND IT GOES AGAINST SOME OF THE LAWS.

YOU DON'T EVEN HAVE TO RETREAT FROM AN ARGUMENT AND YOU CAN KILL PEOPLE WITH IMPUNITY.

THE INDUSTRIAL COMPLEX COMES WITH A MATERIAL BASE WHICH ALLOWS WHITE PEOPLE TO KILL BLACK PEOPLE AT AN ALARMING RATE.

>> YOU MENTIONED EARLIER, ANIRBAN, THERE IS A CONNECTION-- IF WE CONTEXTUALIZE THIS, AT A TIME WHEN THERE IS THIS REPLACEMENT THEORY AT THE SAME TIME, WHERE WE ARE HEARING A NUMBER OF STATES AROUND THE COUNTRY ARE TRYING TO PASS LAWS, WHICH DON'T LET PEOPLE EVEN DISCUSS THAT HISTORY OF RACISM.

>> THAT IS RIGHT.

AND THAT'S VERY UNFORTUNATE.

ONE OF THE WAYS TO, YOU KNOW, COUNTER THESE KINDS OF IDEAS, IS COUNTERIDEAS, THROUGH CRITICAL THINKING, THOUGHT.

UNITED STATES NEVER REALLY HAD A TRUTH AND RECONCILIATION EVEN AFTER MASSIVE YEARS OF GENERAL SIDE AND HATE.

SO IF WE NOW WANT TO EDUCATE OUR YOUTH ABOUT HOW TO UNDERSTAND SYSTEMIC RACISM, HOW TO UNDERSTAND WHITE SUPREMACY IN THE UNITED STATES, WE HAVE THESE, I CALL THEM AMERICAN TALIBAN WHO WANT TO TELL YOU, YOU CANNOT THINK ABOUT THIS IDEA.

YOU CANNOT READ THIS BOOK.

AND YOU KNOW, WE CANNOT TALK ABOUT ANTIRACISM.

HOW CAN YOU NOT TALK ABOUT ANTIRACISM.

WHAT IS THE ALTERNATIVE?

TALK ABOUT PRO-RACISM?

EXACTLY.

THAT'S WHAT THEY'RE SAYING THAT BE RACIST AND THERE IS A NEED TO BE RACIST AND KILL OFF PEOPLE WHO ARE NOT WHITE.

>> OKAY.

NOW, AMERICANS WENT TO THE POLLS THIS WEEK WITH SEVERAL HIGH PROFILE PRIMARIES AT STAKE WE SAW SOME INTERESTING RESULTS WITH IMPLICATIONS FOR THE FALL, AND CRITICALLY, WE'RE STILL WAITING FOR RESULTS JUST ACROSS THE STATE LINE IN PENNSYLVANIA.

FORMER PRESIDENT TRUMP IS UP TO HIS OLD TRICKS, TELLING A PREFERRED CANDIDATE THERE TO SIMPLY DECLARE VICTORY BEFORE ALL THE VOTES HAVE BEEN COUNTED.

WHAT DO THE RESULTS TELL US ABOUT THE STATE OF THE AMERICAN ELECTORATE?

>> THE AMERICAN ELECTORATE IS PARTISAN, QUIRKY AND IDIOSYNCRATIC DEPENDING ON THE RACE YOU ARE LOOKING AT.

FIRST OFF WE HAVE TO KNOW THAT PARTISAN TURNOUT IS LOW IN THE 30% RANGE.

70% OF AMERICANS ARE NOT PARTICIPATING IN PRIMARY SEASON.

WE CANNOT EXTRAM LATE.

BUT WE HAVE SEEN THE TREND OF POPULISM CONTINUE.

IT REMAINS STRONG AND WE HAVE SEEN PARTY ORGANIZATIONS REMAIN WEAK IN TERMS OF BEING ABLE TO CONTROL THE TYPES OF CANDIDATES THAT EMERGE AS NOMINEES.

IN PENNSYLVANIA, FOR EXAMPLE, WE SAW A DEMOCRATIC POPULOUS SECURE THE NOMINATION IN A VERY COMPETITIVE SENATE SEAT.

JOHN FEDDERMAN DEFEATED TWO STRONG CANDIDATES, WON ALL 67 COUNTIES AND WON BY A TWO TO ONE MARGIN OVER THE NEXT FOLLOWER.

ON THE RIGHT WE SEE DONALD TRUMP REMAINING TO BE A FACTOR FOR SURE.

I THINK HIS ENDORSEMENT INFLUENCINGS A BIT OVER BLOWN.

IT'S ABOUT A COIN FLIP IN TERMS OF THE PERCENT WON BY THE CANDIDATES HE ENDORSES SO IT'S NOT VERY PREDICTIVE BUT IT WAS A FACTOR IN PENNSYLVANIA WHERE THE REPUBLICAN NOMINEE FOR GOVERNOR IS A TRUMP CHAMPION.

>> NOW ON THE DEMOCRATIC SIDE, THE MODERATES DID NOT DO VERY WELL.

IT WAS REALLY THE LEFT.

>> AND I THINK THAT SPEAKS TO WHAT LUKE SAID.

IF YOU LOOK AT PENNSYLVANIA, I THINK THEY CAST A LITTLE OVER SEVEN MILLION BALLOTS IN THE 2020 PRESIDENTIAL ELECTION BUT IN THIS PRIMARY, IT WAS LESS THAN 2.5 MILLION.

SO YOU WANT TO BE CAREFUL ABOUT THINKING THAT THE PEOPLE WHO ARE VOTING IN THE PRIMARIES ARE REPRESENTATIVE OF GENERAL ELECTORATE.

WHAT YOU HAVE IS, I KNOW, THE BASIS AND IT'S OFTEN THE CASE IN PRIMARIES, POLLING THE PARTIES MORE TOWARD THEIR EXTREMES.

YOU KNOW, I THINK ON THE REPUBLICAN SIDE YOU SEE ON SOME CASES LIKE I THINK THEY WERE HAPPY TO SEE MAD SAN LOSE BUT DOUG MASTIAN OWE WON AND SO YOU WORRY ABOUT ARE THE PEOPLE THAT ARE GETTING THROUGH THE PRIMARIES ARE ARE THEY GOING TO BE ELECTABLE IN THE GENERAL ELECTION.

I THINK AS YOU SAID, DAVE, ON THE DEMOCRATIC SIDE, YOU SAW QUITE A FEW PROGRESSIVES BEATING INCUMBENT MODERATES AND THE QUESTION IS HOW IS THAT GOING TO PLAY IN THE GENERAL ELECTION.

I DON'T KNOW.

>> I THINK THERE ARE TWO THINGS-- ONE ON THE REPUBLICAN SIDE, TRUMP DIDN'T WIN 50% BUT TRUMPISM SEEMS TO BE VERY STRONG.

SO HIS IDEAS-- NOBODY SAID HEY, I'M NOT FOR TRUMP.

NOBODY SAID THAT THE BIG LIE ABOUT WHETHER HE WON THE ELECTION IS WRONG.

SO THEY, EVEN IF HE DIDN'T ENDORSE THEM, THEY WERE EMBRACING HIM.

TRUMPISM IS STILL A VERY STRONG THING.

ON THE DEMOCRATIC SIDE, CONNER LAMB LOSING WHO IS A FORMER MARINE, GREAT HAIR, AND JUST, I MEAN SORT OF, YOU KNOW WHAT I MEAN?

HE LOOKS LIKE THE PERFECT CANDIDATE LOST TO THIS 6'9" BALD GUY BUT HE IS A POP LIFT SOMEBODY WHO HAS TATTOOS, WEARS A HOODY, SHORTS AND SOMEBODY THAT DEMOCRATS CAN BE POPULOUS, TOO AND HAVING A GREAT STORY IS SOMETIMES MORE IMPORTANT THAN YOUR POLICIES.

>> I HAVE TO WONDER IF YOU ARE REFERRING TO FEDDERMAN AS THE POPULIST THERE.

THE LOOK AND THE FEEL, THE VIBE IF YOU WILL, BECAUSE YOU MENTION CONNER LAMB CHECKED ALL THE BOXES.

>> HE HAD EVERY BOX CHECKED.

HE REALLY WAS THE PERFECT CANDIDATE.

BUT SOMETIMES IT'S THE STORY THAT MATTERS MORE THAN THE POLICY AND THE CANDIDATE.

AND FEDDERMAN HAS A GREAT STORY COMING FROM A RURAL MAYOR IN PENNSYLVANIA.

HE DOESN'T LOOK THE PART AND HE IS AUTHENTIC.

AND IF WE HAVE SEEN ONE THING THAT MATTERS TO ELECTORATE, ARE YOU AUTHENTIC.

AND HE HAS THAT ABILITY.

>> AND HE SURVIVED A STROKE IN THE WEEK LEADING UP TO THE ELECTION.

AND IT DIDN'T HURT HIM AT ALL IN TERMS OF THE POLLS.

>> I LIKE THE PHRASE THAT TRUMP LOST BUT TRUMPISM WON.

I JUST HAD A QUESTION THAT DO YOU THINK THAT THERE IS A DIVISION BETWEEN THE BIG LIE CAUCUS AND THE CAUCUS IN THE REPUBLICAN PARTY THAT DOESN'T THINK THAT THE ELECTION WAS A BIG LIE?

WOULD THERE BE A DIVISION BETWEEN THIS AND HOW THAT WOULD AFFECT THE GENERAL ELECTION DO YOU THINK?

>> THERE IS CERTAINLY A DIVISION MOSTLY BEHIND THE SCENES BECAUSE I THINK REPUBLICANS ARE TRYING TO KEEP THE BAND TOGETHER TO GET THROUGH THE MID TERMS.

THEY'RE FAVORED TO WIN THE HOUSE LOOKING AT HISTORICAL TRENDS AND THEY HAVE A GOOD SHOT TO TAKE THE SENATE AS WELL.

I THINK THERE IS A LOT OF POSTURING BEHIND THE SCENES.

SOMETIMES THAT BUBBLES UP WHERE YOU HAVE A PRO-TRUMP CANDIDATE VERSUS CRITICAL TRUMP CANDIDATE BUT USUALLY NOT.

I DO THINK IT IS A DIVISION.

NOT ALL REPUBLICANS ENDORSE TRUMP.

THE TWO SENATE CANDIDATES IN PENNSYLVANIA, HE HASN'T BEEN REGURGITATING THE LIES ABOUT THE ELECTION.

SO EACH CANDIDATE IS TRYING TO STRATEGICALLY NAVIGATE TRUMP IN A WAY THAT SERVES THEIR INTEREST.

>> I THINK IN TERMS OF THE GREAT LIE, NEXT WEEK'S PRIMARY IN GEORGIA IS GOING TO BE VERY IMPORTANT BECAUSE YOU HAVE TWO INCUMBENTS RUNNING THAT DONALD TRUMP HATES BECAUSE THEY REFUSED TO HELP HIM OVERTURN THE ELECTIONS LAST YEAR.

AND THAT IS BRIAN KEMP AND BRAD RATHENSBERGER AND THEY'RE RUBBING AGAINST DAVID PURDUE AND JODI HEIST AND IT WILL BE INTERESTING TO SEE WHETHER THE VOTERS IN GEORGIA WILL LISTEN TO TRUMP AND PUT IN HIS PEOPLE.

IF THEY DO, I THINK THAT IS GOING TO BE, PORTEND NEGATIVELY WHAT MAY HAPPEN IN THE NEXT PRESIDENTIAL ELECTION.

>> SPEAKING OF THAT ELECTION, ONE THING THAT WILL IMPACT THAT IS THE STATE OF THE ECONOMY.

PRESIDENT BIDEN HAS SET HIS SIGHTS ON INFLATION, SAYING IT'S HIS TOP DOMESTIC PRIORITY.

WHETHER HE CAN DO MUCH ABOUT IT IS ANOTHER MATTER.

IN THE PAST FEW WEEKS GAS HAS SHOT UP OVER ITS ALREADY HIGH BASELINE, THIS WEEK AVERAGING $4.52 NATIONWIDE.

FOOD PRICES ARE SURGING.

THE FED IS GETTING MORE AGGRESSIVE, AND NOW RECESSION IS A GROWING RISK.

WERE BIDEN-AND FED CHAIRMAN JEROME POWELL-- ASLEEP AT THE SWITCH LAST YEAR WHEN LARRY SUMMERS WARNED ABOUT RISING PRICES?

>> WELL, IT'S EASY TO PLAY MONDAY MORNING QUARTERBACK AND TALK ABOUT IN RETROSPECT.

PERHAPS HE DIDN'T NEED AS MUCH OF THAT THIRD STIMULUS.

MAYBE THE FEDERAL RESERVE SHOULD HAVE STARTED RAISING INTEREST RATES EARLIER BUT AGAIN, REMEMBER WE HAD A SITUATION WHERE WE HAD 20 MILLION PEOPLE UNEMPLOYED, AND WE WERE FACING A VERY GRAVE RECESSION AND WE ENDED UP HAVING THE SHORTEST RECESSION IN HISTORY.

WE DECIDED WE WERE NOT GOING TO REPEAT THE MISTAKES THAT WE HAD AFTER THE GREAT RECESSION.

AND SO PERHAPS WE WEREN'T AS VIGILANT IN LOOKING AT INFLATION.

NOW WE ARE AT A SITUATION THOUGH, WHERE MANY OF THE THINGS THAT ARE UNDER OUR CONTROL, BASICALLY INTEREST RATES AND TRYING TO MANAGE DEMAND, ARE ONLY GOING TO DEAL WITH PART OF THE PROBLEM.

WE STILL HAVE ISSUES SUCH AS THE PANDEMIC AND THE SHUTDOWN, PRETTY MUCH THE TOTAL SHUTDOWN OF THE CHINESE ECONOMY RIGHT NOW AS WELL AS THE IMPACT OF THE WAR IN UKRAINE.

SO I THINK WE ARE DOING AS WELL AS WE CAN.

I THINK WE ARE TRYING TO MANAGE EXPECTATIONS.

THAT'S VERY IMPORTANT IN TERMS OF TRYING TO CONVINCE PEOPLE THAT INFLATION IS NOT GOING TO BE... >> ALL RIGHT, RICK, IT DOESN'T FEEL VERY GOOD.

SO ANY SUGGESTED POLICY CHANGES, MAYBE TO TRY TO DEAL WITH IT ANIRBAN?

>> A COUPLE THINGS WE DON'T TALK ABOUT IN THE MAINSTREAM NEWS I HAVE SEEN.

LET'S GET IT OUT OF THE WAY.

IS LARRY SOMERS RIGHT?

NO, HE IS WRONG.

THE GRAPH ON THE SCREEN WOULD SHOW YOU THAT YOU KNOW, EVEN AFTER THE TWO STIMULUSES, WE HAVE NOT BEEN ABLE TO REACH THE POTENTIAL OUTPUT OF THE 2019 TREND EVEN IN THE THIRD QUARTER OF 2021.

AND THEN THE WAR STARTED.

SO THERE IS NO REAL LIFE SCENARIO WHERE WE WOULDN'T HAVE ANY INFLATION, ESPECIALLY WHEN WE WERE TRYING TO KEEP AN ECONOMY AND PEOPLE FROM STARVING.

SO THE THINGS WE ARE NOT TALKING ABOUT IS THIS ACUTE SUPPLY CHAIN CRISIS AND SHORTAGE FROM AROUND THE WORLD.

THAT WOULD STILL REMAIN EVEN IF FED INCREASE IS THE INFLATION RATE AND TRIGGERS A RECESSION, IT MAY BECOME EVEN WORSE.

THAT IS MAYBE STAGFLATION.

THE SECOND THING I WANT TO ADD IS THAT COMPANIES ARE RAISING PRICES BUT THEY'RE ALSO POSTING MASSIVE LEVELS OF PROFIT MARGINS.

PROCTER AND GAMBLE FOR EXAMPLE, SAID THEY HAVE TO RAISE PRICES ON DIAPERS AND OTHER STUFF BUT THEY POSTED A 20% PROFIT MARGIN AT THE SAME TIME.

SO MY ARGUMENT WOULD BE YES, SLOWLY RAISE THE INTEREST RATE PERHAPS BUT TO LOOK AT LONG-TERM ISSUES OF SUPPLY CHAIN ABOUT MAYBE PUTTING ON PRICE CONTROLS IN SOME GOODS.

>> PRICE CONTROLS SOUNDS LIKE QUITE A DRASTIC STEP.

I'M NOT SURE THAT THAT'S BEEN REALLY DISCUSSED.

>> BUT I THINK WE HAVE TO SAY THAT THIS IS NOT A RATIONAL THING.

WHEN YOU PAY $10 FOR A POUND OF BACON OR $5 FOR GAS, IT FREAKS PEOPLE OUT AND WE HAVE TO KNOW THERE IS AN IRRATIONALITY ABOUT THIS.

THE FED IS DOING EVERYTHING THEY CAN.

YOU SEE PEOPLE ARE STARTING TO NOT BIAS MUCH.

TARGET AND WAL-MART, THEIR INVENTORY IS UP.

PEOPLE ARE NOT SELLING AS MUCH.

THAT'S ALL TRUE BUT THE QUESTION IS, IS THERE GOING TO BE A RECESSION BASED ON THIS, THAT THE FACT THAT THE FED IS DOING WHAT IT IS?

I LOVE MY ECONOMISTS BUT THERE IS THAT OLD SAYING BY ROBERT SAMUEL SON, THE MARKET HAS PREDICTED NINE OUT OF THE LAST FIVE ECONOMIST RECESSIONS AND ECONOMISTS HAVE PREDICTED NINE OUT OF THE LAST FIVE RECESSIONS.

WE HAVE TO DO AS MANY THINGS AS POSSIBLE TO HELP CALM THE PEOPLE DOWN BECAUSE THEY'RE GOING TO BE UPSET.

PARTICULARLY THIS WINTER, WHEN DIESEL PRICES AND HEATING FUEL IS GOING TO BE SO HIGH.

>> AND AS THE TEMPERATURES TURN COLD, THEY'RE GOING TO BE GOING TO THE POLLS, LUKE.

>> IT'S A POLITICAL DISASTER.

I HEAR WHAT YOU ARE SAYING, BUT THE BIDEN ADMINISTRATION, GOOD LUCK WITH THAT.

BUT UNLESS THE SITUATION CHANGES IN TERMS OF CONSUMER PRICES, WE HAVE SEEN A PRETTY CLEAR TREND OVER TIME IN TERMS OF INFLATION GOING UP AND PRESIDENTIAL PUBLIC APPROVAL RATING GOING DOWN.

IT'S MOST NOTEWORTHY WITH LYNDON JOHNSON, RICHARD NIXON AND JIMMY CARTER AND THEY DIDN'T SERVE SECOND TERMS.

THERE IS A LOT OF TIME BETWEEN NOW AND NOVEMBER BUT DOES NOT BODE WELL FOR THE DEMOCRATS.

>> IN TERMS OF POTENTIAL POLICY MOVES TO COMBAT INFLATION, WHAT ABOUT TEAR TARRIFFS.

SHOULD THEY BE REMOVED?

>> I THINK WE NEED TO ENCOURAGE AS MUCH AS POSSIBLE GOODS COMING INTO THE UNITED STATES TO TRY TO HOLD DOWN SOME OF THESE PRICES BUT THE SUPPLY CHAIN ISSUES ARE PREVENTING THAT.

YOU KNOW, TARRIFFS ARE NOT MUCH OF AN IMPACT IF CHINA IS NOT PRODUCING GOODS AND SENDING THEM TO THE UNITED STATES.

WAS WE NEED TO DO, 1: THE FEDERAL RESERVE HAS TO BE VERY CLEAR IN TRYING TO CONVINCE PEOPLE THAT THEY'RE NOT GOING TO ALLOW THIS TO BE A LONG-TERM ISSUE.

AND I WOULD ACTUALLY HAVE PREFERRED SEEING A LITTLE BIT HIGHER, MAYBE A HALF POINT INCREASE IN THE FEDERAL FUNDS RATE TARGET THIS LAST TIME JUST TO SEND THE SIGNAL BECAUSE WE CAN'T DO ANYTHING ABOUT THE-- WE CAN'T DO VERY MUCH ABOUT THE SUPPLY SIDE ISSUES.

WE CAN MANAGE PEOPLE'S EXPECTATIONS ABOUT INFLATION.

I THINK THAT'S WHERE WE'VE GOT TO GO.

>> AND WE'LL HAVE TO LEAVE THAT THERE.

NEXT TIME WE'LL TALK ABOUT TAX IMPLICATIONS AND TAX CUTS OR TAX INCREASES.

LET'S GET TO THE As AND Fs AND ANIRBAN, WE'LL BEGIN WITH YOUR F. >> MY F TO THE U.S. IMMIGRATION AND CUSTOMS ENFORCEMENT ICE AGENCY TACTIC OF USING A SWEEPING SURVEILLANCE DRAG NET THAT GIVES THE AGENCY TO WARRANTLESSLY TRACE IDENTITIES AND LOCATIONS OF ALMOST EVERY PERSON IN THE U.S. NEW GEORGETOWN UNIVERSITY REPORT CALLED DRAG NET SAYS THAT ICE HAS OFTEN, WITHOUT ANY JUDICIAL LEGISLATIVE OR PUBLIC OVERSIGHT, ACCESSES DATABASE CONTAINING DETAILED PERSONAL RECORDS.

IT'S TIME TO PUT ICE ON ICE.

>> OKAY.

LUKE.

>> STEVE WYNN NAME SAKE DONOR OF THE UTICA HOSPITAL.

SUED BY THE JUSTICE DEPARTMENT FOR NOT REGISTERING AS A FOREIGN AGENT AND LOBBYING FOR CHINA.

>> A NATIVE UTICAN.

NOT MANY PEOPLE KNOW THAT.

>> MY F GOES TO ANYBODY WHO USES THE DESPICABLE REPLACEMENT THEORY, ESPECIALLY TUCKER CARLSON.

IT'S NATIVIST, RACIST AND EVEN WORSE THAN THAT, IT'S WRONG.

>> AND RICK.

>> MY F GOES TO MATT DAMON, TOM BRADY, REESE WITHERSPOON, LEBRON JAMES AARON ROGERS AND GWENETH PALTROW, SPOKESPERSON FOR CRYPTOCURRENTLYCY AND REFUSE COMMENT AS BITCOIN HAS FALLEN IN VALUE IN THE LAST SIX MONTHS AND LUNA NOT CRYPTOCURRENTCY IS WORTHLESS.

SEEMS TO ME IF YOU ARE WILLING TO ACCEPT A LARGE PAYCHECK IN ORDER TO ENCOURAGE PEOPLE TO INVEST IN CRYPTO, YOU SHOULD TAKE SOME RESPONSIBILITY WHEN THINGS TURN BAD.

>> TIME FOR THE AS.

>> TO THE GOVERNMENT TO BAN CORPORATE ENCLAVES CALLED SPECIAL ECONOMIC ZONES FROM THE COUNTRY.

THESE SPACES ARE, AS WE HAVE SEEN, HISTORICALLY AROUND THE WORLD, POWER HOUSES OF CORRUPTION AND REGULAR ASSAULT ON LABOR LAWS AND WORKERS.

SO, IT'S TIME TO WALK LIKE A HONDURAN.

>> LUKE YOUR A.

>> TO ALL THE LOCAL GRADUATES THIS SPRING AND FAMILY AND FRIEND WHO HAVE SUPPORTED THEM ON THEIR JORN AGREE THEY HAVE HAD A TOUGH FOUR YEARS WITH THE PANDEMIC.

>> YOUR A.

>> TO THE BIDEN ADMINISTRATION AND U.S. CONGRESS FOR PASSING A $40 BILLION BILL TO SUPPORT UKRAINE THAT IS THE BEST THING WE COULD DO FOR OUR FOREIGN POLICY AND FOR OUR STRATEGY.

COLLECTIVE DEFENSE.

THIS WILL HELP PREVENT OTHER DICTATORS FROM INVADING COUNTRIES IN THE FUTURE.

>> AND RICK.

>> MY A GOES TO THE U.S. SOCCER FEDERATION MEN AND WOMEN'S NATIONAL SOCCER TEAMS FOR AGREEING TO COLLECTIVE BARGAINING AGREEMENTS RESULTED IN THE WOMEN RECEIVING BOTH EQUAL PAY AND EQUAL WORKING CONDITIONS.

ONE NATION, ONE TEAM.

U.S. SOCCER FOUNDATION FEDERATION MOTTO IS NOW MORE THAN JUST A MARKETING SLOGAN.

>> REALLY QUICKLY THERE.

THE MEN ARE LUCKY TO HAVE EQUAL PLACEMENT WITH THE WOMEN, RIGHT?

BECAUSE THE WOMEN ARE THE POWER HOUSE.

>> THE MEN RECEIVE MUCH MORE MONEY FROM FIFA AND THEY AGREED TO TAKE THAT ADDITIONAL MONEY AND SPLIT IT EVENLY WITH WOMEN SO THERE WERE COMPROMISES AND RESPECT SHOWN ON BOTH SIDES.

>> AND TY, ON YOUR F YOU MENTIONED REPLACEMENT THEORY WE TALKED ABOUT EARLIER.

ONE WAY TO DAMPEN THAT, ONE PERSON HAS A LOT OF CONTROL OVER THAT, RIGHT?

THAT WOULD BE RUP URT MURDOCH.

>> THERE WAS A SAYING THAT PRIME MINISTER THE THE NEW ZEALAND SAID WHY DON'T WE HAVE ANGRY WHITE MEN LIKE WE DO IN AUSTRALIA, U.K. AND OTHER PLACES BECAUSE THERE IS NO FOX NEWS EQUIVALENT IN NEW ZEALAND.

>> THANK YOU FOR JOINING US THIS EVENING.

FOR COMMENTS YOU CAN WRITE TO THE ADDRESS ON YOUR SCREEN.

IF YOU WOULD LIKE TO WATCH THE SHOW AGAIN, YOU CAN DO SO ONLINE AT WCNY.ORG.

I'M DAVID CHANATRY, FOR ALL OF US AT "IVORY TOWER," HAVE A GOOD NIGHT.