US funding Russian aggression oil prices.

0:01 Speaker 1 Larry, what’s going on with the economy?

0:04 Speaker 2 Well, Menendez could have called me. I would have told him the gold price.

0:11 Speaker 1 Larry could though I never knew that if you make a pay you off with gold buys. There’s no ten ninety nine in the.

0:19 Speaker 2 No ten ninety nine and he had to go on his computer. He just could have called me. I mean I followed gold every day. How about Hunter? How about Hunter Biden’s paintings.

0:28 Speaker 1 You don’t have to ten ninety nine on those either? Do you evaluate those? Also? Larry?

0:33 Speaker 2 Well, speaking of Hunter Biden, I mean Hunter, Uh, you know he got over twenty millions plus lucrative directorships Menendez, I don’t know, less than a million US used Mercedes. Very unimpressive, by the way.

0:48 Speaker 1 I didn’t just refused to buy Hunt Biden’s paintings.

0:54 Speaker 2 That’s that’s it.

0:55 Speaker 1 Maybe that’s maybe, but it is interesting.

0:57 Speaker 2 When I saw the headline today Indicted for I was like, what’s going on with Hunter Biden?

1:02 Speaker 1 And I was like, no, it was Bob Menende. There’s something there’s something more to this than we know. Yeah, and we may be on what you just said. The timing is really interesting.

1:12 Speaker 2 Yeah, I mean I can’t speak to that it is. It is very serioust I’m making light of it, but Menanda has been on the ropes for a long time, so it’s a really bad story. But John, the other story is interest rates up, stocks down, interest rates up, inflation up, stocks down, And I think that’s going to

1:33 be a theme for a while. That’s where I’m looking at it. Inflation is going to be worse than the FED is telling us. Oil prices have a lot to do with it. There’s no telling how high oil prices are going to go. The Fed’s going to have to raise their target rate much more than people think. And

1:50 none of this is good for the stock market, which is kind of overvalued to begin with. So I don’t want to be gloomy on a Friday, but I’m just saying, realistically, what happened to the market, maybe a harbinger of a difficult autumn.

2:04 Speaker 1 Well, Larry I looked at Powell doesn’t have a clue what’s going on. It’s like he’s looking at the rear view mirror because in the last sixty days oil has gone from seventy to ninety ninety five.

2:18 Speaker 2 Yep. I mean, he never mentioned oil in his entire press conference. The only time it came up was when our Fox Business reporter Edward Lawrence asked him specifically about the rising price of oil that you just mentioned and how that was going to impact inflation, and then Powell sort of blathers through a terrible answer and then says, well,

2:44 oil doesn’t impact inflation. It’s not going to have any inflation effect. It already has recent months, the last couple months, with the rise in oil prices, the CPI has gone up, stopped going down, it’s now going back up. I don’t think oil is coming down because you know, here’s Biden freezing production and drilling in Alaska and New Mexico and

3:09 the Gulf of Mexico while OPEC plus our dear friends the Saudis and the Russians and the Iranians in the Venezuela as they are cutting production and he can’t go to the strategic controlling reserve because he’s already looted half of the thing. So the hour for oil is probably bullish.

3:28 Speaker 1 There’s very little reserve left.

3:31 Speaker 2 Yeah, that’s correct, And so that means the inflation rates are gonna stay, continue to rise.

3:37 Speaker 1 It’s gonna get worse. Larry, the price of gasoline. I think he’s gonna go to five if it stays in ninety five dollars a barrel. The price of gasoline is going to five five and a half six dollars of a gallon. Price of heating oil is up to three and a half already, and the price of food is

3:57 not going down. It’s gonna go up. So it’s hurting the middle class and it’s hurting the poor people.

4:04 Speaker 2 That’s right. Low income people get hurt very badly from this. You know, fertilizer goes up, so food prices have to go up. I mean, I don’t know how far it’s going to go. You’re more of an expert than I am.

4:17 I’m just saying that the feeder reserve is not being transparent. They’re not finished tightening, and I think the stock market is sniffing that out.

4:27 Speaker 1 Yes, well, Larry Kudlow, have a great weekend. I understand you might be flying to California for the debates, and.

4:36 Speaker 2 Yeah, I’m travel see I’m going to be at the debates. I’m looking forward to that. We’re going to do our show out there, and I’m going to do the pre debate show, and I just want everyone to know I’m going to wear my long pants. I’m like Senator Fetterman.

4:50 Speaker 1 Thank you, no Hoody, thank you Larry Goodlow travel.

4:55 Speaker 2 Long pants all right. Thanks kids,