Timcast IRL · June 11, 2022 · 2h 0m
Timcast IRL #549 - CNBC Warns Economic Crisis Is Coming, Gas Hits $5, Democrats Are Finished w/Andy Ngo
Episode Recap
Timcast IRL episode 549 from June 11, 2022 opened with Tim Pool and co-hosts discussing the alarming economic news that had just been released. The episode centered on the devastating inflation numbers showing an 8.6% increase, the highest in 40 years, with some prices compared to World War II levels. Tim highlighted CNBC's survey of 22 Fortune 500 CFOs who predicted a recession hitting in the first half of 2023, blaming the Federal Reserve as a major risk factor. The conversation then shifted to gas prices hitting a $5 national average, with Ian Crossland sharing his experience of filling up his car and Tim Pool recounting spending $148.32 to fill his diesel truck. The co-hosts discussed upcoming food shortages expected in August, diesel shortages, and depleted fall harvests due to fertilizer issues stemming from the Russia-Ukraine war. The panel also addressed the January 6th hearings with Tim sarcastically referring to them as the May 29th 'insurrection' when far-left extremists allegedly tried burning down the White House. Andy Ngo joined the discussion as an independent journalist and author of 'Unmasked,' providing his perspective on the current state of American politics and culture. The episode concluded with the panel discussing how attacks on America's cultural foundations have led to the current political and economic turmoil.
TL;DR
- →Inflation hits 8.6%, the highest in 40 years, with some prices compared to World War II levels
- →CNBC CFO survey of Fortune 500 executives predicts recession in early 2023, blaming Federal Reserve policies
- →Gas prices reach $5 national average, with predictions of $6-7 nationwide and California exceeding $10
- →Upcoming food shortages in August and diesel shortages expected due to Russia-Ukraine war impact on fertilizer supply
- →Tim Pool, Ian Crossland, Andy Ngo, and Libby Emmons discuss cultural and political collapse in America
- →Panel debates electric vehicles and energy policies as cost of living crisis intensifies
Key Moments
- 0:00Economic Apocalypse OpeningTim opens with the shocking inflation numbers showing 8.6% increases, the highest in 40 years, with some prices at World War II levels
- 5:00CNBC Recession WarningPanel discusses CNBC survey of 22 Fortune 500 CFOs predicting recession in early 2023, blaming the Federal Reserve
- 10:00Gas Price CrisisIan Crossland shares his gas expense experience while Tim Pool recounts spending $148.32 on diesel fuel
- 15:00Andy Ngo IntroductionAndy Ngo introduced as independent journalist and author of 'Unmasked: Inside Antifa's Radical Plan to Destroy Democracy'
- 35:00Cultural and Political AnalysisPanel discusses how attacks on America's cultural foundations have led to current political and economic turmoil
- 45:00January 6th HearingsTim sarcastically critiques the January 6th hearings and references the May 29th White House incident
- 60:00Food and Energy ShortagesDiscussion of upcoming August food shortages, diesel shortages, and depleted fall harvests due to fertilizer issues
Notable Quotes
“The new economic numbers are in and it's apocalyptic, but you knew that because you felt it yourself when you went to the gas station and it cost you like a hundred bucks to fill up your gas tank. 8.6%, the highest in 40 years, and many other specific elements of the consumer market are actually much higher than even the 40-year high.”
— Tim Pool · opening segment on economic crisis
“They are terrified. They're absolutely terrified of people seeing this. Inflation is higher than it's been in 40 years. But some things are actually well beyond that going to like World War Two. The prices have never been this high.”
— Tim Pool · main discussion on inflation data
“I sent Tim a picture of the price of gas and he was like, holy cow. And I was like, it's insane, dude. And I wasn't even buying diesel. I was just filling up my own passenger car. So it sucks. It's hard to miss.”
— Ian Crossland · co-host commentary on gas prices
“We attacked as a culture, we attacked the foundations of our country. We attacked our cultural foundations. We completely destroyed what we were built upon ideologically. And now we are suffering the price of that. We're suffering the fallout from that.”
— Tim Pool · cultural analysis and political commentary
“I am an independent journalist, and I'm also an editor-at-large for the Postmillennial.”
— Andy Ngo · guest introduction and background