Interview Introduction for Guest Blake Harbin:
The Wall Street Journal just reported that retail sales grew by 3.8% in January as inflation surged to a 40-year high of 7.5%, citing a February 16 Commerce Department report.
Our guest, monetary expert Blake Harbin, CEO of Houzzle Financial, is joining us to provide more details.
Questions and Answers:
1. Welcome, Blake. The government tells us the inflation rate is 7.5%, and they admit it is the worst inflation in 40 years. Should we believe them?
Answer: Yes and no. Yes, we should believe the Commerce Department when they say inflation is the highest since 1982. But no, we shouldn’t believe inflation is merely 7.5%.
- Why’s that?
Answer: Because their numbers are political numbers. Real-world inflation is already in double digits because the government under-reports little things, like gas and groceries, the very things we need and buy in real life. These cascading effects will substantially curtail home buying for Americans. Instead of bringing the perverbial bacon home, literal bacon cost you an extra 18.6% higher and will continue to add to the struggles of the American Families who will find it most costly to put food on the family’s tables.
- When should we expect to see interest rates increase in 2022, and by how much?
Answer: The only way to curb inflation and slow rising prices is by increasing interest rates. The Federal Reserve knows this, but it also knows that increased rates are counterproductive to economic growth. But instead of seeing a quarter-point bump or a rise of even half a percent, I think we’re looking at a whole percentage point. But this will barely scratch the surface in slowing down inflation. Unfortunately, it will be one of many quick interest rate hikes. We could be looking at all-time record-high hikes.
- What’s the highest the Federal Reserve has raised interest rates in the past?
Answer 20% in 1980, which was to fight double-digit inflation. That was the last year of President Jimmy Carter’s Term. Heaven knows how much worse it might have gotten had Ronald Reagan not been elected to help turn things around.
- With the likely incredible rising interest rates, could we see a recession in the near future?
Answer: Yes. We can expect a recession. Compounding things, we still have a supply chain problem. So does Canada, due to the trucker blockade. In a free market, you need goods and services moving freely. But Biden and Trudeau must have been detached at the hip at birth since both are going out of their way to destroy their economies. Between mandates and blockades, we see the law of supply and demand kick in, on steroids. Ignorant politicians are choking off supply to increase demand, which is inflationary. But there is no end in sight since Joe Biden is not the least bit repentant for any of the damage he has done. He’s a one-person wrecking ball with a lot more misery he can inflict in the next three years of his term.
6. You are a real estate expert and own a mortgage company. How will inflation and rising interest rates impact the real estate industry?
Answer: Higher inflation and higher interest rates will limit the home buying power of Americans. Housing prices will continue to increase and substantially burden families. Higher home prices and rising interest rates will lead to greater levels of debt by Americans.
- How can the Biden Administration and Congress prevent America’s further economic decline?
Answer: Our government must stop spending money, reduce the budget, cut taxes, and get rid of the awful mandates and other unneeded restrictions to the supply chain and economic growth. These are sure-fire ways that lead to economic recovery. The 2022 midterm elections are crucial for Republicans. If the party wins back either the U.S. House or the U.S. Senate, Biden’s presidency is essentially over.
- I’ve heard you tossed your hat in the ring to run for Congress in Georgia’s 6th Congressional District in Atlanta. Was your decision based on any of these things?
Answer: Yes. I’m going to do my level best to even out the economic playing field so that Americans can prosper.
- Where may we get more information on your campaign?
Answer: I welcome anyone interested in helping to visit my website at blakeharbin.com and follow me on Twitter @blakeharbinGA.
Blake Harbin is the CEO of Houzzle Financial, a mortgage lending company in the Southeast. He has been a small business owner for more than two decades and is an expert in the real estate industry. Blake is running as a candidate for Georgia’s 6th congressional district in 2022.
CONTACT: To schedule an interview with Blake Harbin, contact Celinda Hawkins at (432) 349 – 2736 jerry.specialguests@gmail.com or Tamara Colbert at 626-244-5571 tamara@ohsweetliberty.com
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