WEBVTT

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CBS News now says 25%

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of people in our great country are what they call food insecure. Food that can't get bare necessities.

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Recession,

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record.

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Inflation, record. Our debt, our deficits.

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You know,

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why is this happen?

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How would you fix it? And would you have supported the bailout

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of Silicon Valley Bank? Okay.

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Ready?

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Yeah. I had a lot of questions you're asking me.

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I am. I wouldn't have supported the bailout. The bank would have to get along by itself and maybe they could have. What happened with the bank is interest rates went too high.

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And you know, I had my own situation with Powell and I beat the hell out of him. I was not a big fan of Powell. I was, he was recommended by some people. I didn't like him.

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He's too interest rate happy.

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What you do is you get the oil prices down. That's bigger than interest rates, the only thing. And what happened is we took an oil and now we take an interest rates. Those banks failed because the interest rates were too high. They stupidly bought long-term treasuries. Ten-year treasuries. Well, they bought long-term, longer than that even. And they bought long-term and

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those treasuries got crushed because Powell keeps raising interest rates.