The Axis of CAPITALISM (Ep. 2093) – The Ben Shapiro Show
Release Date: November 26, 2024
Host: Ben Shapiro
Organization: The Daily Wire
1. Addressing the National Debt Crisis
Ben Shapiro opens the episode by highlighting the escalating national debt in the United States, which has approached $37 trillion. He emphasizes that the interest payments on this debt are projected to surpass the defense budget annually, primarily fueled by entitlement and welfare programs such as Medicaid, Medicare, and Social Security.
Ben Shapiro [00:00]: "The national debt currently carried by the United States is verging on $37 trillion. That means that the interest that we pay on the national debt will soon, if it is not already exceed the defense budget every single year into the foreseeable future."
Shapiro proposes a dual approach to mitigate this crisis:
- Restructuring and Cutting Government Spending: Implementing serious cuts to unsustainable welfare and entitlement programs.
- Unleashing Market Power: Expanding the economy to increase tax revenues, thereby affording more governmental expenditures without exacerbating debt levels.
He critiques the economic outlook under the Biden administration, citing forecasts of GDP growth below 2% over the next decade, which he argues is insufficient to sustain prolonged government spending.
2. Historical Insights: Chile’s Economic Transformation
Shapiro draws parallels between Chile’s economic reforms in the 1970s and current movements in Western economies. Referencing the era of Augusto Pinochet, he discusses how the "Chicago Boys," influenced by Milton Friedman, implemented supply-side economic policies that led to significant growth and the eventual transition to democracy.
Milton Friedman [02:44]: "The real miracle in Chile was not that those economic reforms worked so well... The real miracle is that a military junta was willing to let him do it."
Key pillars of Chile’s transformation included:
- Economic Liberalization: Reducing trade barriers and easing regulations.
- Privatization of State-Owned Enterprises: Transferring ownership from the state to private citizens.
- Inflation Stabilization: Curtailing money printing to control inflation.
3. Contemporary Comparisons: Argentina’s Economic Reforms
Shapiro highlights Argentina’s President Javier Milei as a contemporary example of successful economic reform. Milei has effectively reduced inflation from nearly 300% to manageable levels within months, transformed a long-term budget deficit into a surplus, and initiated broad deregulation efforts.
Ben Shapiro [03:41]: "Milei himself said what lies ahead in 2025 is more of what we've already done. Strict fiscal balance, no money growth and deregulation."
Shapiro connects Milei’s policies to historical precedents, noting their influence on leaders like Reagan in the United States and Thatcher in the United Kingdom. He suggests that these reforms are now being applied across the Western world, potentially sparking an economic boom in the United States.
4. Media Criticism and Censorship
A significant portion of the episode is dedicated to critiquing mainstream media's treatment of economic studies and social issues. Shapiro and Milton Friedman discuss instances where media outlets like The New York Times and Bloomberg have allegedly suppressed studies challenging prevalent narratives around Diversity, Equity, and Inclusion (DEI) and transgender healthcare.
Ben Shapiro [16:03]: "The media backed the economic play of Barack Obama, which was bad. They backed the economic play of Joe Biden, which was bad."
They argue that such actions undermine transparency and editorial independence, contributing to the erosion of public trust in the media. Shapiro underscores the importance of alternative media outlets like The Daily Wire in countering these perceived biases.
5. Political Strategy: The Filibuster Debate
Shapiro delves into the evolving stance of Democrats on the filibuster, a Senate procedure requiring a supermajority to pass legislation. He cites Democratic leaders advocating for the filibuster to remain a permanent fixture, viewing it as a tool to prevent abuse of power.
Ben Shapiro [30:10]: "If only one side is playing by the rules... it's a tool of discrimination."
He proposes that Republicans should consider amending the Constitution to enshrine the filibuster, ensuring its permanence or opposition collectively, rather than allowing one party to unilaterally control its fate.
6. Immigration Policy and Law Enforcement
The episode addresses Democratic opposition to President Trump’s immigration policies, with local officials pledging to challenge federal actions against ICE (Immigration and Customs Enforcement). Shapiro criticizes Democrats for overstepping legal boundaries and imposing their political preferences over the rule of law.
Tom Homan [29:12]: "President Trump has a mandate for American people. We got to secure this country."
Shapiro highlights the potential political repercussions for Democrats, suggesting that their attempts to obstruct law enforcement efforts could lead to downstream political damage.
7. Democratic Party Challenges and Future
Shapiro discusses internal challenges within the Democratic Party, pointing out low favorability ratings for leaders like Governor Kathy Hochul and the party’s struggle to present compelling candidates. He speculates on the potential resurgence of figures like Kamala Harris and criticizes the party’s reliance on what he perceives as superficial or ineffective leadership.
Ben Shapiro [36:55]: "We have a large problem with males... We need to address that."
He emphasizes the necessity for the Democratic Party to confront its internal issues and adapt to the shifting political landscape influenced by conservative movements.
8. International Relations: NATO and Middle East Dynamics
In the international arena, Shapiro covers NATO's call for business leaders to prepare for wartime scenarios amidst escalating tensions with Russia. He connects this to Donald Trump’s foreign policy positions, suggesting that upcoming leadership changes could recalibrate global alliances and defense strategies.
Ben Shapiro [43:08]: "Businesses need to be prepared for a wartime scenario and adjust their production and distribution lines accordingly."
Additionally, he analyzes Israel’s recent moves towards a ceasefire with Hezbollah, interpreting it as a strategic pause influenced by the anticipated return of Trump to the U.S. presidency. Shapiro posits that this ceasefire aims to provide Israel with time to rearm without the implications of Biden’s administration applying pressure.
9. Conclusion: The Future of Capitalism and Conservative Movements
Shapiro wraps up the episode by reiterating the potential for a capitalist resurgence in the Western world, driven by economic reforms, political strategy, and a shift in media narratives. He underscores the importance of conservative media and political activism in shaping future economic and political landscapes.
Ben Shapiro [49:07]: "The weakness of the Biden administration has led to a more dangerous world."
Notable Quotes
- Ben Shapiro [00:00]: "The national debt currently carried by the United States is verging on $37 trillion."
- Milton Friedman [02:44]: "The real miracle in Chile was not that those economic reforms worked so well... The real miracle is that a military junta was willing to let him do it."
- Ben Shapiro [03:41]: "Milei himself said what lies ahead in 2025 is more of what we've already done. Strict fiscal balance, no money growth and deregulation."
- Ben Shapiro [16:03]: "The media backed the economic play of Barack Obama, which was bad. They backed the economic play of Joe Biden, which was bad."
- Ben Shapiro [30:10]: "If only one side is playing by the rules... it's a tool of discrimination."
- Tom Homan [29:12]: "President Trump has a mandate for American people. We got to secure this country."
This episode of The Ben Shapiro Show offers a comprehensive analysis of current economic challenges, historical parallels, media criticism, and political strategies from a conservative perspective. Shapiro emphasizes the need for systemic reforms, market-driven growth, and vigilant political maneuvering to address the pressing issues facing the United States and the broader Western world.