THE CALVARY IS COMING.
ALL RIGHT.
JOINING ME NOW TO CHEW ON THIS
THE GREAT STEVE FORBES, FORBES
MEDIA CHAIRMAN AROUND
EDITOR-IN-CHIEF AND AUTHOR OF,
"INFLATION."
STEVE FORBES, WELCOME BACK, GOOD
TO SEE YOU, EVEN IF YOU ARE FAR,
FAR AWAY.
IT IS SO FUNNY.
NOTHING FUNNY ABOUT IT.
BUT BIDEN DOESN’T HAVE TO DO
THIS, THE COUNTRY DOESN’T WANT
HIM TO DO IT.
I WILL JUST READ THE LATEST
POLL, AMERICA’S DIRECTION, OKAY,
83% DISSATISFIED?
16% SATISFIED.
1% NO OPINION.
HE IS DRIVING US INTO A DITCH.
STEVE, I WILL REPEAT WHAT I SAID
EARLIER, IF BIDEN EVER GOT HIS
WAY AND IT WAS FOSSIL FUELS
FREE, WE WOULD BE IN A PERMANENT
RECESSION.
THAT’S MY TAKE.
WHAT DO YOU THINK?
>> YEAH.
I THINK THAT’S TRUE OF CAVE
DAYS.
THAT IS WHAT WE WOULD HAVE
AGAIN.
WE COULDN’T SURVIVE.
NOT JUST USING PETROLEUM FOR
AUTOMOBILES THINGS LIKE THAT.
PETROLEUM-BASED PRODUCTS ARE
NUMEROUS FROM COSMETICS, SHOES,
EVERYTHING.
MACHINE PARTS AND THE LIKE.
SO YOU WOULD HAVE A DRASTICALLY
REDUCED STANDARD OF LIVING.
OUR ENEMIES AROUND THE WORLD
WOULD BE ABSOLUTELY DELIGHTED.
WHAT IS THE PURPOSE OF IT?
BUT THE LEFT IS JUST GOING ALL
FOR BROKE ON THIS, YEAH, THEY
MAY TAKE ELECTORAL LOSSES BUT
THEY THINK THEY CAN MAKE SOME OF
THIS STUFF PERMANENT.
I THINK THEY’RE WRONG.
I THINK THERE IS GOING TO BE A
GREAT REVERSAL.
THAT IS WHY WE HAVE OUR WORK CUT
OUT FOR US.
THE CALVARY IS COMING.
WE NEED TO MAKE SURE THEY HAVE
THE RIGHT WEAPONS, WHERE TO AIM
THE WEAPONS, WHAT TO DO TO
FOLLOW UP AFTER THEY FIRE THOSE
WEAPONS.
A LOT OF WORK AHEAD ON THAT.
LARRY: JOE BIDEN HAS TO BE THE
FIRST PRESIDENT TO EXTOL AND
PRAISE HIGH GASOLINE PRICES.
I MEAN AS DUMB AS THAT IS
POLITICALLY.
HE HAS TO BE THE FIRST ONE EVER.
>> WELL I JUST SAID SOMETHING ON
THE AIR FOR "FORBES," THAT IS
THAT HE SHOULD BE PRAISED FOR
HIS CANDOR.
HE ACTUALLY TOLD THE TRUTH.
THEY WANT TO WRECK FOSSIL FUELS
IN THIS COUNTRY, FOR THIS
ALLEGED NIRVANA THAT WILL MAKE
THE EARTH POORER AND YOU I
LETTER.
THE ENVIRONMENTAL COSTS ARE
RIPPING UP ACRES OF LAND TO MINE
MINERALS.
WHAT YOU SAID, KEVIN HAS SAID,
OTHERS HAVE SAID, THE
REPUBLICANS SHOULD DEMAND THAT
THE BIDEN ADMINISTRATION RELEASE
A TIMETABLE FOR THIS, WHAT IT
INVOLVES, THE MATERIALS
INVOLVED, ROAD MAP, DETAILED
ROAD MAP, NOT THIS VAGUE
GOBBLEDYGOOK ABOUT SAVING THE
PLANET, BUT THE ACTUAL COSTS.
HOW MANY MINERALS.
HOW MANY WIND FARMS THEY NEED
THAT WILL TAKE UP A LOT OF, LIKE
900 TONS OF NON-RECYCLABLE
PLASTIC FOR ONE WIND FARM FOR
CRYING OUT LOUD?
LAY ALL THAT OUT.
WHEN THE AMERICAN PEOPLE SEE
THAT, THEY WILL SAY WHAT WERE
THESE PEOPLE INHALING.
LARRY: THAT IS A VERY SERIOUS
POINT.
THEY HAVE THIS VISION OF A
FOSSIL-FREE ECONOMY BUT THEY
NEVER OFFERED ALTERNATIVE VISION
WITH ANY DETAIL.
IN OTHER WORDS THEY WANT TO RIP
DOWN ALL OF THE FOSSILS, OKAY,
BUT THEY DON’T SHOW US HOW IT
WOULD WORK WITH ONLY RENEWABLES.
I THINK THAT’S WHAT SCARES THE
PUBLIC.
NOT ONLY HIGH COST OF GASOLINE
AND DIESEL AND SO FORTH WHAT
GOES BEYOND, WHAT’S ON THE OTHER
SIDE OF THIS.
NO ONE HAS ANY CLUE AND THE
ADMINISTRATION HAS NEVER TOLD
US.
>> AND IT ALSO MEANS A BLEAK
FUTURE OF THE LAST 200 YEARS.
EVERY MAJOR ADVANCE IN OUR
STANDARD OF LIVING REQUIRED MORE
ENERGY.
RAILROADS, TELEFONY, CARS,
INTERNET IS A HUGE SOURCE.
THEY WANT ALL THIS ARTIFICIAL
INTELLIGENCE AND STUFF THAT IS
GOING TO MAKE OUR LIVES BETTER
PROPERLY USED THAT WILL REQUIRE
MOUNDS OF NEW ELECTRICITY AND
ENERGY.
ENERGY COSTS SHOULD BE GOING
DOWN, NOT UP.
IT SHOULD BE MORE PLENTY FULL,
NOT LESS PLENTIFUL.
WHY ARE THEY CONFINING US TO
THIS VERY BLEAK FUTURE.
LARRY: THAT IS A GOOD POINT.
COMMODITY PRICES HAD A LONG-TERM
TREND DOWNWARD AND OF COURSE
TECHNOLOGY WILL ENTER INTO IT.
ALL THESE ENVIRONMENTAL REVIEWS
AS YOU KNOW, STEVE, ALL THE
ENVIRONMENTAL REVIEWS, WHETHER
EPA, INTERIOR DEPARTMENT NONE OF
THEM INCLUDES NEW TECHNOLOGIES.
SCOTT PRUITT MENTIONED ON SET A
COUPLE NIGHTS AGO WHAT CARBON
CAPTURE AND STORAGE WOULD DO.
CARBON CAPTURE AND STORAGE IS A
HUGE REFORM IN FOSSIL FUELS.
THAT IS NEVER IN ANY OF THE
BIDEN ESTIMATES REGARDING
ENVIRONMENTAL IMPACT, NONE OF
THEM.
>> I’M OLD ENOUGH TO REMEMBER IN
THE EARLY 1970S A THING CALLED
CLUB OF ROME.
LARRY: YES.
>> WHICH PUT OUT A REPORT WE’RE
RUNNING OUT OF EVERYTHING, THE
WORLD IS COMING TO AN END.
GET USED TO SUBSTANDARD OF
LIVING.
THING IS, THESE PEOPLE CAN’T SEE
THE FUTURE, THEY DON’T KNOW WHAT
LIES AHEAD.
IMAGINE TAKING SOMEBODY,
RETURNING THEM 40 YEARS AGO,
SOMEBODY LEFT THE EARTH 40 YEARS
AGO, TRYING TO EXPLAIN THE
INTERNET TO THEM?
THEY WOULD BE ABSOLUTELY,
UTTERLY CONFUSED.
THESE THINGS ARE UNFORESEEABLE.
WHO KNOWS WHAT FUTURE STEVE JOBS
AND ELON MUSKS ARE DOING IN
GARAGES, LABORATORIES THAT CAN
CHANGE OUR LIVES.
THEY HAVEN’T A CLUE.
YOU HAVE TO LET THAT ROLL OUT
AND TESTED IN THE MARKETPLACE.
THESE PEOPLE WOULD CRUSH THAT
AND HEALTH CARE IN EVERYTHING
ELSE.
LARRY: WOULD YOU THRILLED TO
LEARN THE DISNEY CHILDREN AT
DAVOS WERE CALLING FOR HIGHER
TAXES FOR EVERYBODY?
>> NO SURPRISE.
IT IS NO SURPRISE.
THOSE THAT HAVE IT THINK THEY
CAN PAY IT.
THEY DON’T REALIZE THAT
ULTIMATELY MONEY RUNS OUT.
WE PUT OUT A 400 RICHEST LIST IN
THE EARLY 1980s, POPULATED
WITH ROCKEFELLERS AND DUPONTS
AND THE LIKE, THESE FORTUNES
EVENTUALLY GET DISSIPATED.
YOU DON’T NEED INHERITANCE TAX,
FUTURE GENERATIONS WILL DO IT
AND THEY WILL DO IT TOO.
IF THEY SOLD THE DISNEY SHARES
OR HOLDING DISNEY SHARES,
THEY’RE WAY DOWN, BY GOLLY THEY
WILL FIND OUT THIS MONEY IS NOT
FOREVER.
LARRY: SO I, LAST ONE, THIS IS
MY FAVORITE NOW.
THIS GUY STUART KIRK A BANKER
WITH HSBC.
HE SAID BANKS SHOULD WORRY,
BANKS AND THE FEDERAL RESERVE
SHOULD WORRY MORE ABOUT
INFLATION AND CLIMATE CHANGE.
HE CALLS IT UNSUBSTANTIATED
SHRILL, SELF-SERVING APOCALYPTIC
WARNINGS ARE ALWAYS WRONG.
HE POINTED HIS FINGERS AT MARK
CARNEY, USED TO BE HEAD OF BANK
OF ENGLAND AND BANK OF CANADA
FOR THAT MATTER.
STEVE, THIS GUY WORKS FOR HSBC.
THE CEO, AN UNBRAVE COWARD NAMED
NOEL QUINN.
BASICALLY FIRED HIM.
HE DIDN’T FIRE HIM.
HE HAS BEEN SUSPENDED PENDING
INVESTIGATION.
THIS GUY SPEAKS THE TRUTH.
THE CEO COMES IN, TAKES HIM OUT
OF PLAY.
I THOUGHT THE DISINFORMATION
BOARD WAS DEAD.
I GUESS NOT ON WALL STREET.
NOT AT HSBC ANYWAY.
>> YOU’RE GOING TO SEE MORE AND
MORE REACTION TO THAT.
COCA-COLA AND DELTA A YEAR AGO,
REMEMBER THE OLD ALL-STAR GAME
BROUHAHA IN GEORGIA ABOUT THE
VOTING BILL.
THEY FOUND OUT, THEY GOT SUCH
REACTION THEY’RE NOT TOUCHING
POLITICS AGAIN.
I THINK YOU WILL SEE MORE
COMPANIES WITH THAT AS PEOPLE
REACT.
JUST AS PARENTS ARE REACTING TO
LOUSY SCHOOLS, PEOPLE ARE
REACTING TO THESE CRAZY
REGULATIONS AND THESE UNPROVEN
THEORIES.
I THINK CORPORATIONS ARE GOING
TO BE IN FOR A SHOCK.
DAN SULLIVAN, SENATOR FROM
ALASKA HAS A BILL THAT WOULD
ENABLE SHAREHOLDERS AN INDEX
FUNDS TO ACTUALLY VOTE THOSE
SHARES INSTEAD OF THE FUND
MANAGERS.
IMAGINE IF THAT GETS PASSED?
LARRY: GOOD START.
WE HAD DAN SULLIVAN ON THE SHOW