Timcast IRL · June 11, 2021 · 2h 0m
Timcast IRL #306 - Biden Inflation Crisis Sparks Panic As CPI Signals Market Crash Coming w/Lee Smith
Episode Recap
Timcast IRL Episode 306 aired on June 11, 2021, with Tim Pool hosting alongside co-hosts Ian Schilling and Lydia, and featuring author Lee Smith as a guest. The episode opened with a discussion of the Biden-era inflation crisis, as the Consumer Price Index rose 5% year-over-year in May 2021—the fastest pace since August 2008. Tim Pool noted that the official inflation figure didn't even include fuel and food, with bacon prices up 19%. The hosts then discussed BlackRock's controversial buying spree of residential properties across the United States, with Tim Pool mentioning that Ben Shapiro had defended the practice from a libertarian perspective, drawing criticism from both left and right. Lee Smith joined the conversation, promoting his book 'The Permanent Coup' and discussing his previous work 'The Plot Against the President,' which chronicled Congressman Devin Nunes's investigation into the Russia investigation. The panel discussed the California mega drought and water rationing, connecting it to rising food costs. Throughout the episode, the hosts criticized mainstream media coverage, with Tim Pool advocating for taking the opposite position of major news outlets as an investment strategy. The show also touched on New York's exodus of residents and potential connections to municipal housing policies under Mayor de Blasio and Governor Cuomo.
TL;DR
- →Consumer Price Index rose 5% year-over-year in May 2021, the fastest pace since August 2008, with bacon prices up 19% and used car prices surging
- →BlackRock's purchase of residential properties went viral with a 25,000 retweet Twitter thread, prompting debate over corporate real estate investment with Ben Shapiro defending the practice
- →Author Lee Smith appeared to discuss his books 'The Permanent Coup' and 'The Plot Against the President' about political scandals and media bias
- →California is facing a mega drought with water rationing being issued, which Tim Pool connected to rising food costs and economic pressure
- →Panel discussed fake news and media credibility, with Tim Pool recommending doing 'the opposite' of what mainstream media reports
- →Tim Pool announced plans to launch field reporting, fact-checking, and a newsroom expansion funded by TimCast memberships
Key Moments
- 0:00OpeningTim Pool introduces the Biden inflation crisis and CPI report showing 5% increase
- 0:41BlackRock DiscussionAnalysis of investment firms buying houses and Ben Shapiro's controversial defense
- 0:59California DroughtWater rationing in California linked to food prices and economic impacts
- 1:31Lee Smith IntroductionAuthor Lee Smith discusses his books and political investigations
- 3:00Media CriticismPanel discusses fake news and reversing mainstream media narratives
Notable Quotes
“Consumer price index is up 5 percent, which is higher than Wall Street expected. And it means the cost of your goods are going to go way up.”
— Tim Pool · opening segment on inflation crisis
“Meanwhile, the biggest investment firms are buying them up. So if it was a bad time to buy a house, why are they buying the houses?”
— Tim Pool · main discussion on BlackRock housing purchases
“If you want to have a pretty good understanding of what happened during the four years of the Trump administration, you have to read everything in reverse.”
— Lee Smith · guest interview about media coverage
“Whatever the media says, just the opposite must be true.”
— Tim Pool · debate on media credibility
“I don't know, humans don't eat alfalfa, but that means your cows won't be eating alfalfa. Maybe we'll get corn fed beef.”
— Ian Schilling · panel discussion on California drought impacts