On Wednesday, Newsmax chronicled a recent CNBC interview where renowned economist Niall Ferguson said "the ingredients of the 1970s are already in place," in terms of financial shocks, political unrest, and low consumer confidence being pervasive in many corners of the world, including the United States.
In the same segment of "American Agenda," host Bob Sellers spoke to John Browne, the longtime chief executive at British Petroleum energy company (1995-2007) and former Trump White House adviser, and Jeffrey Lord, now a columnist for American Spectator, regarding the state of the U.S. under the Biden administration.
While Browne and Lord were being introduced for their dual interview, Newsmax displayed a graphic showing that 68% of Americans surveyed last month acknowledged they were experiencing either "severe" or "severe-to-moderate" financial hardships — up 13% from a similar poll from last November.
Ferguson's warning might have seemed dire on TV, but Browne says it was likely a conservative assessment of the financial and political troubles that potentially lie ahead.
"I think the situation is far, far worse than Niall Ferguson had stated," Browne told Sellers. "But of course, few people are aware of it, because the official figures have all been manipulated, and they're all wrapped in White House lies."
As one example, Brown estimates the July inflation rate of 8.5% was significantly higher than reported.
"The real rate is about 16" percent, says Browne. "And yet, [President] Joe Biden says it's at zero [percent]."
Also, Browne knocked the Biden administration for being untruthful about the chaos at the U.S.-Mexico border, the massive drug flow at the southern border, exorbitant gas prices, high prices for proteins at grocery stores, and the country being in "recession" territory, after posting back-to-back quarters of negative GDP growth.
"But what can you expect, when the president is in the pay of China, our largest challenger?" asked Browne. He then added, it's "no wonder the [American] people are unaware and increasingly vulnerable."
Lord agreed with Browne during the Newsmax interview, saying that "anybody who was around during the 1970s" has likely noticed the similarities between the respective administrations for President Biden and former President Jimmy Carter (1977-81).
"They say that 'history may not repeat itself,' but it certainly rhymes," says Lord. "And that's exactly what's going on" today.
As a possible remedy to what ails America, Browne and Lord agree the U.S. must regain its economic and political standing of the Trump years.
"The only solution I see is a sweeping majority for Republicans in the [November] midterms, and voting in Trump" as president in 2024, says Browne.
And even then, due to President Biden's ineffective policies, Browne says Trump "would have a huge mountain to climb."
Lord believes the support for Trump — as a potential 2024 presidential hopeful — might even more rabid than the previous two presidential cycles.
The American people "want to put an end to this," says Lord, who attended Trump's Labor Day weekend rally in Wilkes-Barre, Pennsylvania. "This [upcoming election] is a big deal, they get it, and they're looking to him for leadership."
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