Steve Forbes warns US has ‘storm clouds’ ahead

Steve Forbes warns US has ‘storm clouds' ahead

Forbes Media chairman Steve Forbes dissects issues with the Biden administrations new restrictions on gas cars and responds to the March Consumer Price Index. #foxnews

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60 Forbes Forbes media chairman and Editor-in-chief look you just said Something off camera that's really Troubling that not only does China and Grady reported that make most of the Batteries there's a reason for that well China controls the resources not only in China itself but also in Africa they've Been making deals there in terms of Controlling mineral resources with Governments for years and try to get a Mine in this country this whole thing For going electric requires massive Amounts of mining to make make that kind Of change and so it's just physically Not doable and so the administration the Other day put in rules that make a Lithium mine proposal moot in this Country so they want to go electric but They don't Supply the needs to do it and There's also very real question as to Whether going EVS is really going to Help the environment when you see what It's going to do to Mining and ripping Up the Earth mining ripping up the Earth And grid problems in Epic Proportions That were already in California yes We're already having them you know they They they wreck the grid by forcing These so-called Renewables that don't Really work very well and then they say Don't use it because we might have Blackouts hello leave the grid alone and People don't want it you know back a

Hundred years ago we had a boom and Filling stations in this country as the Car came along done by private Enterprise over a hundred thousand Nineteen twins now they say government Has to force you to put in these EV Charging stations and people don't want Them I was just going to say it six Percent of all new cars are EV that that Is a huge sign that people don't want This do you know I know you remember Um back in the 70s when they said to Protect the ozone layer you can't use Spray deodorant and the whole country Was getting behind this this is not that This is not the country saying we've Done I mean the government's saying We've done all the research this is what It's going to take that's not what this Is no not at all and the fact that they Have to keep forcing people to do it Shows that again people don't want it Because they don't like the short Distances they don't like having to Charge an hour hour and a half of people A lot of people don't have garages to Charge these things and in terms of it Going going on these Renewables a a Typical a typical Wind Farm a couple of Typical wind farms talk about the Recycling have more unrecyclable Plastics and all the straws in the world Plastic straws in the world and and so It it's just when you look at the actual

Physics that's what I hope the Republicans do layout in detail where Are these minerals coming from what's it Going to take to do what do you do with These thousand pound batteries when they Have to be recycled what do you do good Question they don't know so answer those Questions before you go down this path You get into an accident and the battery Burns you got to buy a new one oh and You hope you get out alive because Putting out a battery fire is no easy Matter wow you know you mentioned Something though with this list them That people really need to pay attention To how can you say that you're green if You've got to cut up the Earth To make the battery and that's Counter-intuitive and a lot of in this In in Africa they use child labor to get Some of this these minerals Digging by hands where's the outrage on Those human rights violations there you Go the new inflation report out today Shows prices are still very high overall Though inflation slowed slightly the Inflation rate at five percent over year Over year far above the federal Reserve's two percent Target so they are Gonna Hike those rates like never before Potentially food prices alarmingly high For everyday Americans groceries up Eight percent from last year everyday

Foods like eggs breads cereal much Pricier and many are blaming President Biden When it comes to the economy one of the Reasons that 70 percent of Americans Don't feel good about this economy is Sean they're losing money every single Month for the last 22 months that Joe Biden has been in office middle class Families in America have been squeezed And are losing money they're getting Poorer so Raising the interest rates apparently Not really Says are very high right now too what Gets at that well the Federal Reserve Unfortunately thinks the way you provide Inflation is by depressing the economy And eventually that will work because if You don't have money to buy things guess What prices will come down yeah Depression indeed and and so uh the way The way you fight inflation is stabilize The value of the dollar the FED did it In the 1990s so this isn't something new But they're deliberately depressing the Economy that means they're going to Raise interest rates and that means we Have tough times ahead and I'm surprised The market settled up as well as it has Given the storm clouds that are coming From a central bank that doesn't know What it's doing a government that is Putting on these crazy regulations you

Know they're now going after air Conditioners you know the real reason Why they're going after air conditioners Because that's what makes Texas what it Is without the air conditioner Texas People couldn't live there Wow or Arizona or New Mexico I mean Arizona in the summer yeah that that's Insane stable value of the dollar can You call them uh I've tried and I sent Them my book inflation And uh but but uh no Central Banker Discusses a stable value for a currency It's like having a clock that doesn't Have a number of minutes each day well The central Banker has something that we Don't have stable money Personally right oh they they do just Fine even though the Federal Reserve now Is losing money because they have all These low interest bonds and they're Paying Banks four and a half percent to Park their reserves there so a central Bank that can print money is now losing Money boy that is a historic first yes That is a historical shows how crazy These people are Steve Forbes thank you Very much great to have you in Focus I'm Steve Ducey I'm Brian Kilmeade and I'm Ainsley Earhart and click here to Subscribe to the Fox News YouTube page To catch our hottest interviews and most Compelling analysis

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