WEBVTT 1 00:00:56.359 --> 00:01:07.560 Don't radical fundamental principles read the national self interest and individual rights. This is 2 00:01:08.000 --> 00:01:15.959 your book show. Oh right, everybody, welcome to your own book show, 3 00:01:17.519 --> 00:01:21.680 Part two, Part two. I am back. I after a WiFi 4 00:01:21.920 --> 00:01:25.840 outage. We are back. Everything is good. WI Fi is good. 5 00:01:25.959 --> 00:01:30.400 I think we're all set. Yeah, a little crisis. This is what 6 00:01:30.480 --> 00:01:37.359 happens when you travel. This is the way it rolls. I guess this 7 00:01:37.439 --> 00:01:45.640 doesn't work. God, all right, sorry, I have to I have 8 00:01:45.719 --> 00:01:53.519 to do something here quickly. Another little snaffho, what's that? Let me 9 00:01:53.599 --> 00:01:59.519 just get this done. Shouldn't take long? Well, as they say, 10 00:01:59.519 --> 00:02:05.840 all right, So we talked about we talked about altruism in FIGN policy in 11 00:02:05.879 --> 00:02:09.280 part one, which was earlier. We're going to talk about the effects of 12 00:02:09.319 --> 00:02:17.520 globalization today on inequality. I found this really interesting story in The Economist saying 13 00:02:17.639 --> 00:02:22.520 something that I've been saying for a long long time, and now there's kind 14 00:02:22.560 --> 00:02:28.719 of empirical evidence that I was right. I love when that happens. It's 15 00:02:28.840 --> 00:02:34.960 really, really really cool when that happens, particularly given you know, let's 16 00:02:34.960 --> 00:02:38.960 say it's it's kind of a mainstream publication The Economist, not exactly pro me 17 00:02:40.360 --> 00:02:47.719 but it is. It is once. Let me just do this, deletete 18 00:02:50.159 --> 00:02:59.879 upload that later. We can close that, all right? So well, 19 00:03:00.080 --> 00:03:07.960 there were up, so basically you know what is that is there? Uh? 20 00:03:07.960 --> 00:03:13.000 Can you guys? Are you seeing a weird picture of pictures frozen again? 21 00:03:13.199 --> 00:03:23.719 Oh god? What the hell is going on? Frozen with a sharp 22 00:03:23.840 --> 00:03:42.759 yellow something other? No? No, all right, m frozen frozen there 23 00:03:42.800 --> 00:03:50.199 as well? All right, maybe the outage in the outage is not over? 24 00:03:53.960 --> 00:04:02.360 Uh, alright, guys, I think I'm gonna give up for the 25 00:04:02.479 --> 00:04:10.319 night. This is ridiculous. Is what is the sound like? Can you 26 00:04:10.360 --> 00:04:15.120 guys? Can you guys, do you guys hear the sound? Pictures frozen? 27 00:04:15.280 --> 00:04:20.639 Screen is frozen? Audio is perfect? Um, yeah, right, 28 00:04:20.720 --> 00:04:28.879 let's let's uh, let's do that if you can, if we can hear 29 00:04:28.920 --> 00:04:31.399 me, let's just do Let's just to sound and forget about the video, 30 00:04:32.199 --> 00:04:40.360 all right. So I came across this article an economist. The title of 31 00:04:40.399 --> 00:04:48.759 the article is globalization may not have increased in income inequality after all for well 32 00:04:48.759 --> 00:04:53.120 over ten years. Really, it's it's not twelve thirteen years. Since the 33 00:04:53.160 --> 00:04:58.879 financial crisis of the late two thousands, there's been the story in the world 34 00:04:59.319 --> 00:05:03.319 that we live at a time of maxed out inequality. You know, this 35 00:05:03.439 --> 00:05:09.600 is caused by capitalism, it's caused by neoliberalism, it's caused by so called 36 00:05:09.639 --> 00:05:19.560 free markets. And what we have is this systemic, real problematic inequality in 37 00:05:21.439 --> 00:05:28.920 the United States, but really globally, and the globalization has made has basically 38 00:05:28.959 --> 00:05:32.839 made the rich, particularly the one percent, much much much richer, while 39 00:05:32.879 --> 00:05:38.240 working less people have stagnated, and indeed the poor have gotten poor or stagnated, 40 00:05:38.319 --> 00:05:41.839 so the gap between them has just exploded. Now I've given talks about 41 00:05:41.839 --> 00:05:46.040 why in a free market, granted we don't live in one, one shouldn't 42 00:05:46.040 --> 00:05:49.959 even care about inequality, inequalities irrelevant, But of us have said that I 43 00:05:49.959 --> 00:05:54.000 am very suspicious of the data. You know, every time I look at 44 00:05:54.040 --> 00:05:58.920 the data, that's not what I see. It's also true that when a 45 00:05:58.959 --> 00:06:02.120 lot of this, a lot of this thinking about inequality as a consequence of 46 00:06:02.160 --> 00:06:08.920 a book written by Thomas Piketty and work that Piquetti and others have done on 47 00:06:09.120 --> 00:06:13.439 inequality, it seems suspect to me from the beginning because Piquetti, both his 48 00:06:13.600 --> 00:06:19.279 theoretical model and just his whole approach was philosophically corrupt, and then publications like 49 00:06:19.319 --> 00:06:27.800 The Financial Times and others found problems with the data, kind of creative manipulation 50 00:06:27.879 --> 00:06:31.439 of the data, let's call it that. But nobody questioned. In spite 51 00:06:31.439 --> 00:06:34.639 of that, there were questions about the data, questions about the methodology, 52 00:06:35.759 --> 00:06:40.920 very very few questions. People questioned. The ultimate result, it was basically 53 00:06:41.000 --> 00:06:46.199 taken as a truth, a truth that they're just accepted on faith, almost 54 00:06:46.199 --> 00:06:50.399 on faith, based on Piquetti's book, based on the data available, which 55 00:06:50.480 --> 00:06:58.240 was very questionable, and just this became the story. And you know, 56 00:06:58.319 --> 00:07:03.600 I wrote my book Equal Is Unfair as a response to that story to try 57 00:07:03.639 --> 00:07:08.720 to say, wait a minute, no, that that's not what's going on, 58 00:07:09.000 --> 00:07:14.839 and this is just this is just not true, right, this is 59 00:07:14.920 --> 00:07:29.639 just not true and the and you know, and that's that was a big 60 00:07:29.680 --> 00:07:35.480 motivation behind for writing Equal Is Unfair. You know, the bigger issue was 61 00:07:38.240 --> 00:07:41.920 Jennifer reminds me that we published that book eight years ago this month. A 62 00:07:41.959 --> 00:07:47.199 big part of that was not primarily that know, the story's wrong, although 63 00:07:47.240 --> 00:07:53.920 we did say that the primary motivation was the story's irrelevant. The inequality is 64 00:07:53.959 --> 00:07:56.279 not the issue. Inequality is not the problem. If there's a problem in 65 00:07:56.319 --> 00:08:00.399 the US economy's lack of freedom. It's not inequality. Inequality explode during the 66 00:08:00.439 --> 00:08:03.040 nineteenth century, and that was all good. That the whole issue of inequality, 67 00:08:03.040 --> 00:08:07.560 the whole framing of the issue as inequality, the whole obsession with inequality 68 00:08:09.160 --> 00:08:16.040 was wrong and and philosophically corrupted and corrupted by you know, by envy, 69 00:08:16.199 --> 00:08:22.360 by altruism, by egalitarianism, by the notion that somehow things should be equal, 70 00:08:22.480 --> 00:08:28.759 somehow we should all be the same, somehow the wealth should be equally 71 00:08:28.759 --> 00:08:37.200 distributed in the world out there, you know, and the the and you 72 00:08:37.240 --> 00:08:50.200 know, that was that was the that was the that was the story. 73 00:08:52.039 --> 00:08:56.320 And you know, so we made a philosophical case, we made a moral 74 00:08:56.399 --> 00:09:07.360 case, and and you know, we try to we try to basically change 75 00:09:07.600 --> 00:09:18.960 people's attitude towards the issue of inequality and try to promote the idea that that 76 00:09:18.000 --> 00:09:22.759 they should stop thinking about it, they should stop obsessing about it, and 77 00:09:22.799 --> 00:09:35.559 that it really wasn't an issue. It really wasn't an issue. And now 78 00:09:35.399 --> 00:09:46.039 the economist is saying, just empirically, just as the data, globalization did 79 00:09:46.120 --> 00:09:50.600 not increase inequality. And of course this all lines up with the story I 80 00:09:50.639 --> 00:09:52.639 told you last time. I think it was last night. Maybe it was 81 00:09:52.919 --> 00:09:56.399 a few days ago. I can't remember about China right, about the fact 82 00:09:56.440 --> 00:10:03.799 that Chinese manufacturing Chinese cheap goods, This wasn't yesterday, it was It was 83 00:10:05.080 --> 00:10:11.080 the last show I did from home in Puerto Rico. The Chinese manufacturing Chinese 84 00:10:11.240 --> 00:10:18.799 cheap products were not a detriment to America, but indeed were good for America. 85 00:10:20.480 --> 00:10:24.120 That they increased our wealth, that they increased the quality of life and 86 00:10:24.120 --> 00:10:26.679 stand of living, particularly for the for the poor and the middle class. 87 00:10:28.399 --> 00:10:43.120 And indeed that everybody benefited from globalization. Everybody benefited from the from these cheap 88 00:10:43.159 --> 00:10:46.679 goods that the Chinese sent to the United States. I know there were people 89 00:10:46.679 --> 00:10:52.360 in the chat that disagreed, But the economists is saying, it turns out 90 00:10:52.200 --> 00:10:56.080 that if we need to take into account everything, and you adjust the numbers 91 00:10:56.120 --> 00:11:01.639 and you look at it properly and you're not biased for the soophically like Piquetti 92 00:11:01.679 --> 00:11:05.639 was, that the reality is that inequality in the United States actually shrunk. 93 00:11:09.759 --> 00:11:13.879 Now, what the economist says is they didn't look at the one percent. 94 00:11:13.960 --> 00:11:18.399 It's probably true that the one percent wealth exploded. They looked at the ten 95 00:11:18.440 --> 00:11:22.480 percent and the difference between the ten top ten percent and the bottom and the 96 00:11:22.480 --> 00:11:30.279 bottom actually shrunk, and it makes sense. Globalization actually makes things more efficient, 97 00:11:31.919 --> 00:11:39.720 it reduces the costs, It raises productivity globally, but it also by 98 00:11:39.440 --> 00:11:43.720 in a sense, getting the United States to focus on where it has its 99 00:11:43.759 --> 00:11:54.240 comparative advantage, raises productivity, raises wages, raises wealth creation in the United 100 00:11:54.279 --> 00:12:09.440 States and everybody everywhere where the trade is going on. So it's great to 101 00:12:09.440 --> 00:12:11.919 see, it's great to see. It's great, great to see confirmation. 102 00:12:11.840 --> 00:12:18.840 And you know, the sad thing is, the tragic thing is that it 103 00:12:18.879 --> 00:12:22.919 doesn't matter. It doesn't matter. It doesn't matter how much I say, 104 00:12:22.919 --> 00:12:26.840 it doesn't matter how many economists say, it doesn't matter that pretty much every 105 00:12:26.840 --> 00:12:31.799 economist really understands the principle of globalization, of free trade and why they're helpful. 106 00:12:31.840 --> 00:12:37.759 It doesn't matter. If we rewrite the history and see that, and 107 00:12:37.080 --> 00:12:45.279 you can see from that history that yes, globalization is beneficial and helpful. 108 00:12:48.039 --> 00:12:52.240 Our politicians in our political class is not interested in that story. That story 109 00:12:52.320 --> 00:12:58.200 actually reduces their power if they come out and say, yes, globalization. 110 00:12:58.840 --> 00:13:03.320 Turns out globalization is good, was good. We should strive for free trade. 111 00:13:03.759 --> 00:13:07.679 Well, that means that markets are good. Free markets are good. 112 00:13:07.679 --> 00:13:11.559 Maybe we should deregulate, Maybe we should lower taxes, Maybe we should open 113 00:13:11.639 --> 00:13:15.440 up our markets. Maybe we should lower tariffs to zero. And guess what 114 00:13:15.519 --> 00:13:20.240 that means. Less power to the politicians in Washington. They have every incentive 115 00:13:20.279 --> 00:13:24.399 in the world to tell us the globalization is bad for us, and they 116 00:13:24.399 --> 00:13:30.960 can manage the economy better. They will do a good job. And in 117 00:13:30.960 --> 00:13:33.519 that sense, God, it doesn't matter who wins the election. Indeed, 118 00:13:33.519 --> 00:13:37.080 in this sense, Trump is worse than Biden. Biden has kept all of 119 00:13:37.440 --> 00:13:43.840 Trump's tariffs, and it probably instituted a few of his own. But Trump 120 00:13:43.879 --> 00:13:48.360 is not committed to ten percent tariffs on all goods imported into the United States. 121 00:13:48.919 --> 00:13:52.840 Basically, expect the ten percent increase in your taxes, a ten percent 122 00:13:52.919 --> 00:13:56.120 increase in the cost of all the goods that you put us. It'll make 123 00:13:56.159 --> 00:14:03.639 American industry less productive, it will make American industry less competitive, It'll make 124 00:14:03.720 --> 00:14:09.399 your wages ultimately go down. Trump is also committed to a sixty percent tariff 125 00:14:09.440 --> 00:14:13.879 on Chinese goods. Why not just embargo China if you think it's an enemy, 126 00:14:13.320 --> 00:14:20.320 But a sixty percent tariff means that China will raise its tariffs. It 127 00:14:20.399 --> 00:14:26.000 means that forget about agricultural goods selling into China, forget American exports of Caterpillar 128 00:14:26.039 --> 00:14:35.919 and other companies into China. You're gonna corner China into potentially into war by 129 00:14:35.039 --> 00:14:41.200 devastating or by eliminating their ability to trade with US, and you're gonna cripple 130 00:14:41.200 --> 00:14:50.919 the American economy. You're going to increase costs dramatically in the US economy, 131 00:14:50.480 --> 00:14:56.159 and by doing so, people will lose their jobs and the economy will suffer 132 00:14:56.200 --> 00:15:03.120 significantly. I mean, the funny thing is that he could do all this 133 00:15:03.200 --> 00:15:09.440 and yet two of his presidency, and by the time he's y, you 134 00:15:09.519 --> 00:15:13.639 know, out of the presidency, if he ever leaves, the economy might 135 00:15:13.679 --> 00:15:18.320 be fine. The consequence of all this might be longer term. Indeed, 136 00:15:18.399 --> 00:15:22.120 the consequence of the tariffs that Trump passed in his first term are still being 137 00:15:22.159 --> 00:15:26.799 felt today and have played out exactly how you'd expect. Losses of jobs, 138 00:15:28.840 --> 00:15:35.480 loss of wealth creation and creating industries in the United States that are less productive, 139 00:15:35.519 --> 00:15:37.799 less efficient, less competitive. And that's gonna play out over the next 140 00:15:39.039 --> 00:15:43.039 decade, two decades, three decades. Trump won't be remembered as the cause 141 00:15:43.519 --> 00:15:48.279 except by a few economic historians, and nobody pays attention to us or to 142 00:15:48.360 --> 00:15:56.679 them. I'm not an economic historian. So in spite of the fact the 143 00:15:56.720 --> 00:16:02.600 globalization is good for us, it's good for the people selling us stuff. 144 00:16:03.039 --> 00:16:07.639 Trade, as we know, and maybe somebody can teach Trump, but I 145 00:16:07.720 --> 00:16:12.960 doubt I doubt they will be able to Trade is win win, So when 146 00:16:14.000 --> 00:16:19.000 we benefit, they benefit. When they benefit, we benefit. And trade 147 00:16:19.039 --> 00:16:25.720 does not create distortions in our economy. Quite the opposite. It creates great 148 00:16:25.759 --> 00:16:29.879 efficiency, greater productivity, and greater wealth creation. And that great efficiency, 149 00:16:29.879 --> 00:16:37.399 greater productivity, greater wealth creation is something that shockingly that if you understand capitalism, 150 00:16:37.519 --> 00:16:45.320 unsurprisingly, is something that everybody benefits from. And the latest studies that 151 00:16:45.360 --> 00:16:49.480 are published in academic journals where they've looked at the statistics, they've looked at 152 00:16:49.519 --> 00:16:56.279 the empirics, and they seem legit. The latest studies show that all the 153 00:16:56.360 --> 00:17:00.840 stories telling us about working class stagnation, all the stories he's telling us about 154 00:17:00.879 --> 00:17:08.480 wage income, wealth stagnation and inequality explosion all wrong. This economy has done 155 00:17:10.079 --> 00:17:14.839 better than people expected, indeed much better than people expected. The working class 156 00:17:14.839 --> 00:17:21.480 in America have done fine in spite of how they feel, and inequality is 157 00:17:21.480 --> 00:17:25.319 actually not grown in spite of how people feel, and in spite of the 158 00:17:25.359 --> 00:17:30.240 stories they have been told and that they tell themselves. And this is something 159 00:17:30.279 --> 00:17:34.519 it's hard to convince people. It's like telling somebody, you know, New 160 00:17:34.599 --> 00:17:41.400 York today, as bad as you hear it is, is like a gazillion 161 00:17:41.440 --> 00:17:45.519 time safer than it was in the nineteen eighties and early nineties. It's a 162 00:17:45.559 --> 00:17:49.279 lot cleaner and a lot nicer, and a lot everything than it was in 163 00:17:49.359 --> 00:17:55.480 the nineteen seventies. New York, as bad as it is, as blue 164 00:17:55.519 --> 00:18:02.480 as it is, as overflowing as it is with immigrants, is by every 165 00:18:02.519 --> 00:18:07.000 dimension of well being, better than it was in the distant past. But 166 00:18:07.039 --> 00:18:12.279 that's not how we remember the past. And statistics data, actual facts, 167 00:18:12.519 --> 00:18:17.799 motor rates, violent crime rates, things like that. Nobody kids, nobody 168 00:18:17.880 --> 00:18:23.640 kids. The primary focus is on demonizing the present and a longing for a 169 00:18:26.000 --> 00:18:33.000 for a mythical past that didn't really exist, where everything was amazing, amazing. 170 00:18:37.839 --> 00:18:41.920 Globalization leads to job outsourcing, absolutely, and the g leads to even 171 00:18:42.039 --> 00:18:48.640 more job creation locally. That's the reality. Look at how many people today 172 00:18:48.839 --> 00:18:51.839 are employed in the United States. Look at how many people employed in the 173 00:18:51.960 --> 00:18:55.200 United States today, many many, many, many many more people that were 174 00:18:55.240 --> 00:19:00.759 employed forty years ago. The number of jobs in the United States is dramatically 175 00:19:00.839 --> 00:19:04.720 higher than it was forty years ago. We've got a growing population, We've 176 00:19:04.720 --> 00:19:10.680 got the lowest unemployment rate in American history. Pretty much women are working, 177 00:19:10.920 --> 00:19:14.599 not quite at the rates they were working, you know, just before the 178 00:19:14.640 --> 00:19:18.680 financial crisis, but certainly at the rates that they were working in the nineteen 179 00:19:18.720 --> 00:19:26.480 seventies and eighties, before globalization and jobs. More jobs that were lost have 180 00:19:26.599 --> 00:19:30.880 been created. That's cap that's how markets work. And you can say, 181 00:19:30.880 --> 00:19:33.519 but they don't make it as much money as they used to, That's just 182 00:19:33.680 --> 00:19:40.759 not true. They make much more. You can't survive on one income, 183 00:19:40.920 --> 00:19:49.079 That's just not true. You can. The data is unequivocal. Wages, 184 00:19:49.119 --> 00:19:53.319 wealth, income has gone up. Standard living, quality of life. How 185 00:19:53.440 --> 00:19:57.960 much time at work you have to spend to buy groceries, how much time 186 00:19:59.039 --> 00:20:04.279 at work you have to spend to buy electricity, all gone down. The 187 00:20:04.319 --> 00:20:11.000 only thing the only things that have really gone up in price a college education 188 00:20:15.480 --> 00:20:26.200 and college education and the sorry college education. Housing and what is the healthcare, 189 00:20:26.640 --> 00:20:30.440 all three regulated by the government. Of course, money supply has gone 190 00:20:30.519 --> 00:20:34.079 up as well. Your income has gone up a lot more than the money 191 00:20:34.119 --> 00:20:38.519 supply. I mean it's not even close, not even close. You want 192 00:20:38.559 --> 00:20:41.720 to use M two, you want to use M one, you want to 193 00:20:41.799 --> 00:20:45.240 use whatever measure you want. You want to use gold, gold prices, 194 00:20:45.839 --> 00:20:48.559 your wages, your income or the average wages, the average income, the 195 00:20:48.599 --> 00:20:52.880 mean income, the mean ages, whatever measure you want, have gone up 196 00:20:52.920 --> 00:20:59.680 faster than the money supply. So when I tell you incomes have gone up, 197 00:21:00.359 --> 00:21:03.359 I mean incomes have gone up in real terms in terms of what matters, 198 00:21:03.480 --> 00:21:07.920 purchasing power. That's what matters. What matters for you in terms of 199 00:21:07.960 --> 00:21:11.680 your stand of living, quality of life is the purchasing power of your money. 200 00:21:12.440 --> 00:21:18.200 And in terms of purchasing power of your money, you are far better 201 00:21:18.240 --> 00:21:26.079 off today because of globalization than you were back in the seventies and eighties before 202 00:21:26.119 --> 00:21:36.839 globalization. So you can you can challenge these facts. You can pretend that 203 00:21:36.880 --> 00:21:41.359 they don't exist. You can feel that they're wrong. You can buy into 204 00:21:41.680 --> 00:21:45.200 the Trump and right wing rhetoric and the left wing rhetoric. I mean, 205 00:21:45.480 --> 00:21:48.920 the Republicans used to be the optimist. Republicans used to be the people who 206 00:21:48.960 --> 00:21:51.680 said, no, no, life's pretty good, what are you talking about. 207 00:21:51.680 --> 00:21:56.279 The economy is doing pretty well. They bought into the entire left wing 208 00:21:56.319 --> 00:22:03.039 story. Trump did that right the end of America, the decay of America, 209 00:22:04.039 --> 00:22:10.039 you know, or was it something in the streets of America, carnage 210 00:22:10.039 --> 00:22:14.559 in the streets of America? Pretty much. He said that the safest year 211 00:22:15.480 --> 00:22:19.240 probably in American history in terms of murder and violent crime. But you would 212 00:22:19.319 --> 00:22:26.279 rather believe Trump than believe the data. You would rather trust your emotions than 213 00:22:26.359 --> 00:22:36.319 trust the facts. And that's the problem in America today. You know, 214 00:22:36.519 --> 00:22:45.599 the problem in America today is that Americans have lost sight of reality and are 215 00:22:45.680 --> 00:22:52.559 focused today purely on emotion, purely in emotion, and making America great again 216 00:22:52.559 --> 00:22:57.319 when you don't know what America is is not optimistic, it's just delusional. 217 00:22:57.680 --> 00:23:03.079 And the reality is that Trump didn't make America great again. He didn't do 218 00:23:03.160 --> 00:23:10.640 anything, anything sustainable, anything permanent, anything that would make America great again. 219 00:23:10.839 --> 00:23:14.200 Not a thing. I mean, yeah, in terms of making America 220 00:23:14.279 --> 00:23:17.839 great again, maybe lowering the corporate tax, but even that kind of pretty 221 00:23:17.880 --> 00:23:22.160 small when you think about making America great again. Imagine whatever making America great 222 00:23:22.160 --> 00:23:27.000 again agenda would really be, like, these people are not about making America 223 00:23:27.000 --> 00:23:36.839 great again. The only tax cut that was meaningful that Trump did was a 224 00:23:36.839 --> 00:23:38.960 corporate tax rate, and that was meaningful and that was important, and that 225 00:23:40.039 --> 00:23:45.359 was really really good. Best thing he did probably altho there were no real 226 00:23:45.440 --> 00:23:48.599 tax cuts, and indeed his tariffs wiped out any benefit that the tax cuts 227 00:23:49.079 --> 00:23:56.559 provided. The thing is freezing again, huh. All right, let's see, 228 00:23:56.640 --> 00:24:00.359 let's fix that. Well, keep playing with it until we get this 229 00:24:03.480 --> 00:24:12.680 interesting, interesting, interesting, interesting. Alright, this thing that I have 230 00:24:14.079 --> 00:24:21.079 sucks. I think that's a technical term. All right. I think it's 231 00:24:21.160 --> 00:24:23.799 unfrozen for a little while. We'll see how long it lasts. All right. 232 00:24:23.799 --> 00:24:26.440 I have a piece of equipment, if anybody knows, I have a 233 00:24:26.599 --> 00:24:34.119 cam Link four K cam link, which converts the camera video into streamable video. 234 00:24:34.920 --> 00:24:41.440 And it's brand new. Cam Link is the recommended brand, it's the 235 00:24:41.559 --> 00:24:48.559 recommended thing to convert video. And it heats up, it heats up, 236 00:24:49.279 --> 00:24:53.000 and when it heats up, it feezes the picture. And that's what happened 237 00:24:53.000 --> 00:24:56.680 in the last two times, not what originally happened with the bandwidth, but 238 00:24:56.720 --> 00:25:00.279 it just happened. That's what's feeding the picture now, and that's it's just 239 00:25:00.359 --> 00:25:03.480 ridiculous. It's a it's a brand new piece of equipment. This is what 240 00:25:03.640 --> 00:25:08.279 its function is. It's actually, you know, doing what it's supposed to 241 00:25:08.400 --> 00:25:11.640 do. It's the do It's the do It's the do It's the do It's 242 00:25:11.680 --> 00:25:15.079 the do It's the do It's the do It's the do It's the do It's 243 00:25:15.079 --> 00:25:18.880 the do It's. The do It's the do It's. The do It's the 244 00:25:18.960 --> 00:25:22.200 do It's the do It's. The do It's the do It's the do It's 245 00:25:22.240 --> 00:25:25.640 the do It's the do It's the do It's the do It's the do It's 246 00:25:25.640 --> 00:25:27.599 the do It's the do It's the do It's the do It's. The do 247 00:25:27.880 --> 00:25:30.880 It's the do It's the do It's the do It's the do It's. The 248 00:25:30.920 --> 00:25:33.599 do It's. The do It's the do It's. The do It's. The 249 00:25:33.640 --> 00:25:37.319 do It's. The do It's. The do It's. The do It's the 250 00:25:37.400 --> 00:25:38.960 do It's. The do It's. The do It's. The do It's. 251 00:25:40.000 --> 00:25:41.680 The do It's. The do It's. The do It's. The do It's 252 00:25:41.720 --> 00:25:45.119 the do It's the do It's the do It's the do It's the do It's 253 00:25:45.119 --> 00:25:48.519 the do It's the do It's the do It's the do It's the do It's 254 00:25:48.519 --> 00:25:52.920 the do It's the do It's the do It's the do It's the do It's 255 00:25:52.960 --> 00:25:56.359 the do It's the do It's the do It's the do It's the do It's 256 00:25:56.359 --> 00:25:59.720 the do It's the do It's the do It's the do It's the do It's 257 00:25:59.720 --> 00:26:03.200 the do It's the do It's the do It's the do It's the do It's 258 00:26:03.200 --> 00:26:06.599 the do It's the do It's the do It's the do It's the do It's 259 00:26:06.599 --> 00:26:10.000 the do It's the do It's the do It's the do It's the do It's 260 00:26:10.039 --> 00:26:12.440 the do It's the do It's the do It's the do It's the do It's 261 00:26:12.440 --> 00:26:15.839 the do It's the do It's the do It's the do It's the do It's 262 00:26:15.839 --> 00:26:18.759 the do It's. The do It's the do It's the do It's the do 263 00:26:19.079 --> 00:26:22.000 It's the do It's. The do It's. The do It's the do It's. 264 00:26:22.000 --> 00:26:25.720 The do It's. The do It's. The do It's the do It's. 265 00:26:25.720 --> 00:26:27.640 The do It's the do It's the do it's the do It's the do 266 00:26:27.960 --> 00:26:32.039 It's the do It's the do It's the do It's the do It's the do 267 00:26:32.359 --> 00:26:34.480 It's the do It's the do It's the do It's the do It's the do 268 00:26:34.799 --> 00:26:37.880 It's the do It's the do It's the do It's the do It's the do 269 00:26:38.200 --> 00:26:41.279 It's the do It's the do It's the do It's the do It's the do 270 00:26:41.599 --> 00:26:45.720 It's the do It's the do It's the do It's the do It's the do 271 00:26:45.039 --> 00:26:48.119 It's the do It's the do It's the do It's the do It's the do 272 00:26:48.440 --> 00:26:52.519 It's the do It's the do It's the do It's the do It's the do 273 00:26:52.839 --> 00:26:55.960 It's the do It's the do It's the do It's the do It's the do 274 00:26:56.279 --> 00:26:59.359 It's the do It's the do It's the do It's the do It's the do 275 00:26:59.640 --> 00:27:27.960 It's the which to do? Alright? One? Two three, h all 276 00:27:29.039 --> 00:27:33.240 right, I don't know. This strikes me as a lot of drama. 277 00:27:33.000 --> 00:27:38.200 Uh. And is the video working or is the video frozen as well? 278 00:27:40.240 --> 00:27:45.319 Video working and audio or just audio just video or just something? What is 279 00:27:45.960 --> 00:27:49.480 let me know what is going on? All right? Testing one, two, 280 00:27:49.480 --> 00:27:55.279 three, frozen picture with looping wood that was before Now everything works all 281 00:27:55.359 --> 00:28:00.039 good? Now, all right, all right, So anyway, that's the 282 00:28:00.039 --> 00:28:06.599 story of inequality. It is the story of globalization, at least a bit 283 00:28:06.640 --> 00:28:11.079 of the story. Let's move on. God, you know this show needs 284 00:28:11.079 --> 00:28:12.519 to end. But I do have a lot of super chet I do have 285 00:28:12.599 --> 00:28:17.920 a bunch of superchet questions from the previous show. I see nobody this show 286 00:28:18.039 --> 00:28:23.119 has done any any superchech questions. You guys are abandoning me and punishing me 287 00:28:23.240 --> 00:28:30.720 for the for the lack of the lack of I don't know good tech supports. 288 00:28:30.720 --> 00:28:34.200 I guess all right, help a Campbell. Do you think a few 289 00:28:34.279 --> 00:28:37.759 hundred years from now, when objectivism is the norm, they will look back 290 00:28:37.799 --> 00:28:41.519 at our time and realize, I'm in miss something in her method on how 291 00:28:41.559 --> 00:28:47.079 to change a culture. That's why our movement is so slow. I don't 292 00:28:47.119 --> 00:28:51.400 know that im Rand said a lot about the method of how to change a 293 00:28:51.440 --> 00:28:56.440 culture. I mean, she says very little about it. She was not 294 00:28:56.519 --> 00:29:03.480 an advocate and an objectivist movement, so maybe to that extent she chimed in, 295 00:29:03.519 --> 00:29:08.400 but but really she didn't talk about about how to change your culture She 296 00:29:08.599 --> 00:29:14.960 talked about ideas, ideas shape the world, and that's but in terms of 297 00:29:15.319 --> 00:29:18.960 what programs to do, what kind of activities to do, all she really 298 00:29:18.039 --> 00:29:26.319 said is speak out, speak out, don't let injustice pass without speaking out, 299 00:29:26.400 --> 00:29:33.440 don't let the bad guys win without you fighting back, and write speak 300 00:29:33.480 --> 00:29:38.680 That's really the only advice she gave us. Now, when we look back 301 00:29:38.720 --> 00:29:45.200 at some point and realize I miss something, I'll just ask the general question. 302 00:29:45.359 --> 00:29:48.079 Sure, I mean she's not omniscient and omnipotent. She did, you 303 00:29:48.119 --> 00:29:53.039 know, is not infallible and know everything, So you know, will one 304 00:29:53.119 --> 00:29:57.279 day some genius be able to find something we could have done better? Sure? 305 00:30:00.200 --> 00:30:03.359 What implication that has for cultural change? I don't know. And why 306 00:30:03.400 --> 00:30:06.440 our movement is moving so slow I don't think is a mystery at all. 307 00:30:07.640 --> 00:30:11.480 But it's frustrating. But it's not a mystery, and that is that our 308 00:30:11.680 --> 00:30:19.079 ideas are radical. Ideas are radical radical. Somebody's asking what cam I use? 309 00:30:19.200 --> 00:30:25.720 I use a Sony, a Sony something one hundred with a z's camera 310 00:30:26.279 --> 00:30:29.680 with a ZS lens, So Sony one hundred. It's a compact camera, 311 00:30:29.839 --> 00:30:34.559 very good compact camera. That is the cam I use that's what I use 312 00:30:34.599 --> 00:30:37.519 on the road. It's not what I use at home. At home, 313 00:30:37.559 --> 00:30:49.839 I use a bigger camera, Sony Alpha six six. All right, you 314 00:30:49.839 --> 00:30:52.880 know I have to comment on Ken just because Ken, you don't know what 315 00:30:52.920 --> 00:30:56.480 you're talking about about. I mean, that's just a fact, that's just 316 00:30:56.759 --> 00:31:04.720 generally true. But on globalization, globalization is the only application for trade the 317 00:31:04.839 --> 00:31:11.599 objectives and can stand by. Indeed, there's too little globalization. What should 318 00:31:11.640 --> 00:31:17.680 it be happening is the United States is and should implement zero tariffs across all 319 00:31:17.799 --> 00:31:23.480 products. It should lower taxes on trade to zero. Using cosion in order 320 00:31:23.480 --> 00:31:29.319 to restrict trade using cosion in order to manipulate trade using cosion, or to 321 00:31:29.359 --> 00:31:33.640 stop me from buying something from somebody in Thailand is a violation of rights. 322 00:31:34.799 --> 00:31:41.200 So the only position anybody who's an advocate of free markets can take, anybody 323 00:31:41.200 --> 00:31:47.720 who wants to move in the direction of free markets is zero tariffs in the 324 00:31:47.799 --> 00:31:52.039 United States. And the result of zero tariffs in the United States is going 325 00:31:52.079 --> 00:31:56.200 to be globalization because other people can make stuff better than we can. In 326 00:31:56.240 --> 00:32:00.039 any other position, any position that does not involve basically zero tabs is an 327 00:32:00.119 --> 00:32:06.640 anti freedom position. It's an anti individual rights position. It's an anti I 328 00:32:06.640 --> 00:32:09.000 think, an anti objectivist position. Now again, if there's an enemy, 329 00:32:10.200 --> 00:32:17.319 then have an embargo. But tariffs are never legitimate, never legitimate, not 330 00:32:19.000 --> 00:32:22.759 if you understand objectivism, not if you understand individual rights, not if you 331 00:32:22.839 --> 00:32:30.319 understand what freedom actually means. So the fact that China subsidizes their goods and 332 00:32:30.319 --> 00:32:34.920 they're not playing fair is not relevant to this discussion. The fact that they're 333 00:32:34.960 --> 00:32:38.720 subsidized, okay, they subsidize. Who's going to suffer from Chinese subsidies to 334 00:32:38.759 --> 00:32:44.880 their companies Chinese? The Chinese are wasting their money, The Chinese are inefficient, 335 00:32:44.920 --> 00:32:50.559 the Chinese are unproductive. To deny me the ability to benefit from that 336 00:32:51.000 --> 00:32:55.200 is a violation of my rights. Now you could argue but the Chinese im 337 00:32:55.200 --> 00:33:00.920 all fine, But then I have to make the decision as an individual objectivism 338 00:33:00.000 --> 00:33:04.279 right, as an individual about who to trade with and who not a trade 339 00:33:04.279 --> 00:33:07.119 with it. And it could be completely legitimate for an individual to say I'm 340 00:33:07.119 --> 00:33:10.240 not buying anything from China because China it is a bad country. I don't 341 00:33:10.319 --> 00:33:15.079 like them. Great, you have every model right to do that, the 342 00:33:15.160 --> 00:33:19.680 government does not have any right to impose that on you unless the government declares 343 00:33:19.799 --> 00:33:22.759 China as an enemy, and then you don't put tariffs on them, then 344 00:33:22.200 --> 00:33:36.240 you don't allow any trade with them, you embargo them completely. This is 345 00:33:36.279 --> 00:33:37.680 the way these people think. I mean, I've got to do this. 346 00:33:37.759 --> 00:33:40.400 Sorry, I know I shouldn't interact with the chap, but you got to 347 00:33:40.440 --> 00:33:45.480 do this because you got to get the way that people think. He says 348 00:33:45.839 --> 00:33:47.720 tarifs are bad, which is inconsistent with what he said before when he said 349 00:33:47.920 --> 00:33:52.440 globalization is bad. Tarifs are bad, but not as bad as what Biden 350 00:33:52.519 --> 00:33:58.559 did when energy with energy. The dislocation caused by TAOS is difficult to know. 351 00:34:00.279 --> 00:34:02.799 Now we know exactly what the dislocation of tariffs is. The studies are 352 00:34:02.839 --> 00:34:08.159 being published already. The damage done by Trump tariffs is well documented. Indeed, 353 00:34:08.840 --> 00:34:13.360 they've actually boiled it down to a number in terms of the damage it's 354 00:34:13.400 --> 00:34:17.760 done to the US economy. So the economic literature is pretty clear and very 355 00:34:17.840 --> 00:34:23.519 explicit and very definitive about the damage the tariffs are done. But more important 356 00:34:23.519 --> 00:34:30.199 to this watch how they change the subject. Right I contradicted Ken on the 357 00:34:30.280 --> 00:34:31.880 tariffs? He says, yeah, I guess I guess your own right on 358 00:34:31.920 --> 00:34:37.199 tariffs. But Biden's worse, Like, who was talking about Biden? Who 359 00:34:37.239 --> 00:34:42.239 cares about Biden? Why is Biden relevant to anything? So I didn't talk 360 00:34:42.280 --> 00:34:45.079 about Biden. I just talked about globalization. Globalization is good, right, 361 00:34:45.199 --> 00:34:50.000 not relevant to Trump, not relevant to Biden. Globalization is good. Biden 362 00:34:50.239 --> 00:34:52.199 has kept all of Trump's tariffs. Is just as bad on tariffs. But 363 00:34:55.079 --> 00:35:00.239 and let's think about what Biden's done with energy, since Ken is bringing this 364 00:35:00.400 --> 00:35:06.840 up, and this is the you know, the stunning you know literally, 365 00:35:07.159 --> 00:35:13.159 you know, cognitive challenges here, right, So first irrelevant, right, 366 00:35:13.280 --> 00:35:15.440 Biden, Energy, different topic? Why are you switching topics on me when 367 00:35:15.440 --> 00:35:22.239 the topic was tariffs and globalization? Because in their mind, this is the 368 00:35:22.480 --> 00:35:28.079 Trump mindlessness syndrome, Trump mindlessness sympdrome, which people have, even people who 369 00:35:28.079 --> 00:35:34.920 claim they don't like Donald Trump, they have it. And that is Biden 370 00:35:35.039 --> 00:35:40.119 bad Trump, not Biden Trump good. So always shift the conversation to Biden 371 00:35:40.159 --> 00:35:45.559 worse. So, yeah, Trump tariffs probably were bad, but Biden is 372 00:35:45.559 --> 00:35:51.840 worse. Maybe what's the point. Why don't you get on my side and 373 00:35:51.880 --> 00:35:58.119 fight against tariffs and maybe convince Trump and his followers not to have tariffs instead 374 00:35:58.159 --> 00:36:04.519 of jumping on Oh, but it's which is every single Trump support does exactly 375 00:36:04.559 --> 00:36:08.280 the same thing. But but Biden, Trump did this and this and this. 376 00:36:08.679 --> 00:36:14.760 But Biden, come on, people, it's not it. We're not 377 00:36:14.840 --> 00:36:16.679 in a race. We're not talking about voting. We're talking about facts. 378 00:36:16.800 --> 00:36:22.920 We're talking about reality. We're talking about what we I should advocate for. 379 00:36:25.519 --> 00:36:37.199 And you guys are either being dishonest or can't think or both. That's I 380 00:36:37.199 --> 00:36:40.480 mean, that was a great reality. And then what was Ken's original thing 381 00:36:40.679 --> 00:36:45.800 was? You know, globalization is globalism? What the hell is globalism? 382 00:36:45.840 --> 00:36:51.239 Globalism is an anti concept. It's a complete another package deal. It doesn't 383 00:36:51.280 --> 00:36:55.840 mean anything. It means globalization and world government. Nobody really believes in world 384 00:36:55.840 --> 00:37:01.800 government except a few nuts at the World Economic Phone, right all, so 385 00:37:02.480 --> 00:37:07.280 all you've got left is globalization criticizing it. Globalism is an anti concept. 386 00:37:07.320 --> 00:37:13.599 It is a classic definition of an anti concept. It means nothing. Globalization 387 00:37:13.760 --> 00:37:15.599 is good will government bad. Put them in the same concept. What do 388 00:37:15.639 --> 00:37:21.280 you get an anti concept, A package deal? That's what globalism is. 389 00:37:23.559 --> 00:37:29.039 Bet you know, keep doing what you're doing, Keep doing what you're doing, 390 00:37:29.280 --> 00:37:37.760 keep keep keep deceiving, lying, manipulating it. Just to get Biden 391 00:37:37.800 --> 00:37:42.719 out of his office just to let Trump win anything is okay. We're not 392 00:37:42.760 --> 00:37:49.239 objective as to anymore. We're progress us now anything we say, the only 393 00:37:49.320 --> 00:37:54.320 dimension that matters is getting Biden out of office. WELLIFO one hope Trump loses, 394 00:37:55.039 --> 00:38:00.400 and I've said that many times. I think he's gonna win though, 395 00:38:00.679 --> 00:38:04.440 which is tragic for me, but there you go. Well, actually, 396 00:38:05.639 --> 00:38:07.719 it'll be a lot of fun if he wins, because we'll have a lot 397 00:38:07.800 --> 00:38:13.000 to talk about, lots of stuff to talk about, all right, Michael 398 00:38:13.079 --> 00:38:17.039 asks a negative view of whom humanity. Humanity can become a rationale for regulation, 399 00:38:17.599 --> 00:38:22.639 and as everyone hates and distrusts one another more and more, they'll vote 400 00:38:22.639 --> 00:38:25.360 to regulate and knock each other down more and more until me Lay saves the 401 00:38:25.360 --> 00:38:30.320 world. Yes, I mean, well, other than Melia saving the world, 402 00:38:30.039 --> 00:38:35.840 which I think he won't. I think he's he's anyway, we'll get 403 00:38:35.880 --> 00:38:39.079 to there another time. But yeah, And the negative view of humanity is 404 00:38:39.079 --> 00:38:43.679 a consequence of altruism. You don't think about the fact that if I have 405 00:38:43.719 --> 00:38:46.480 to sacrifice for you, to have to sacrifice for humanity, I don't. 406 00:38:47.159 --> 00:38:53.760 I don't like people. I make me worse off through my sacrifice. So 407 00:38:53.840 --> 00:38:58.159 the more altruism we have, the more resentment you have, the more hate 408 00:38:58.199 --> 00:39:00.519 and distrust you have, the more expect that to sacrifice the other people. 409 00:39:00.559 --> 00:39:02.800 The more I resent them, the more I don't trust them, the more 410 00:39:02.840 --> 00:39:07.480 I hate them. Therefore, the more regulations they will be, and the 411 00:39:07.519 --> 00:39:09.360 more I think, oh, they're deceiving me. They're cooks, They're bad, 412 00:39:09.480 --> 00:39:15.000 and I need regulations in order to control them. Altruism is the source 413 00:39:15.679 --> 00:39:19.280 of the regulatory state. Altruism is the source of the welfare state. Altruism 414 00:39:19.360 --> 00:39:30.159 is worth killing this world, killing this culture. It's it said, seed 415 00:39:30.239 --> 00:39:32.599 money for you on's mobile equipment upgrade. God, I mean, it's not 416 00:39:32.679 --> 00:39:37.599 even an issue of money. It's primarily in issue of space and getting equipment 417 00:39:37.639 --> 00:39:44.239 that fits into a travel bag and everything. But it's finding equipment you can 418 00:39:44.280 --> 00:39:46.679 trust. I mean again, I bought this. It's top of the line, 419 00:39:46.800 --> 00:39:52.280 it's number one rated, a converted thing, and as you saw, 420 00:39:52.440 --> 00:39:54.760 it kept freezing. I don't know. I have to surround it with ice 421 00:39:54.840 --> 00:40:00.280 so it doesn't it doesn't get hot. I mean, it's it gets it's 422 00:40:00.480 --> 00:40:05.440 working. It's getting hot from working. But that's its function. So I 423 00:40:05.480 --> 00:40:07.559 don't understand, and unless these things are designed for short videos are off of 424 00:40:07.599 --> 00:40:13.519 long videos. I just don't get it. But yeah, I will buy 425 00:40:14.039 --> 00:40:17.880 a more expensive, different one that is more bulky and bigger and more difficult 426 00:40:17.920 --> 00:40:22.320 to carry around. But so be it. We can't have this fleezing all 427 00:40:22.360 --> 00:40:27.599 the time. So when I get back home before Latin America trip, I'll 428 00:40:27.639 --> 00:40:34.719 have to buy a new video converter. All right, let's see. Not 429 00:40:34.760 --> 00:40:37.360 a lot of super chats in the second session. I don't know. We 430 00:40:37.480 --> 00:40:44.360 got all the anti uron books show people here dominating, dominating the viewership. 431 00:40:44.440 --> 00:40:46.920 All right, Oh, but we got good numbers, a lot of people 432 00:40:46.920 --> 00:40:52.000 watching live. That's good, all right, Neil Cohn. Since the US 433 00:40:52.039 --> 00:40:57.559 military has a recruitment crisis, Yeah, no kidding, what do you think 434 00:40:57.599 --> 00:41:00.880 about establishing US fallen legion made on the model of the French farm Legion? 435 00:41:01.079 --> 00:41:07.000 No, no, no, why, I mean solved the recruiting problem. 436 00:41:07.280 --> 00:41:12.599 And the recruiting problem is simple to solve. Stop sending kids, Stop sending 437 00:41:12.639 --> 00:41:20.960 American troops to fight for things that either I never specified, ill defined, 438 00:41:21.599 --> 00:41:27.800 and that do not promote American interests. Stop sending them with rules of engagement 439 00:41:27.840 --> 00:41:30.400 that basically get them killed. I mean, if you came to me and 440 00:41:30.440 --> 00:41:34.159 asked me, should I volunteer and go serve in the US military today, 441 00:41:34.199 --> 00:41:38.800 I would say no, I'd say you're crazy. The military today, which 442 00:41:38.880 --> 00:41:44.800 is focused on civilian casualties of the enemy more than in your life. I 443 00:41:44.800 --> 00:41:49.840 wouldn't volunteer for that kind of army. But if the army fixed itself and 444 00:41:49.920 --> 00:41:53.400 only engaged in wars, the wars of self defense, and stop worrying about 445 00:41:53.599 --> 00:42:00.000 enemy casualties and worried about victory instead, then absolutely serving in the military is 446 00:42:00.079 --> 00:42:06.000 rational and makes sense for an American. So that's what needs to be solved, 447 00:42:06.039 --> 00:42:08.760 not the fallign legion, you know, And what difference does it make 448 00:42:09.159 --> 00:42:13.440 if the foreigners, if you still are not dedicated to victory. So the 449 00:42:13.519 --> 00:42:22.199 real problem with America, the real problem with America is it's foreign policy, 450 00:42:22.360 --> 00:42:30.440 not not you know, this particular crisis of that particular crisis. So you 451 00:42:30.480 --> 00:42:40.480 don't solve that by just bringing in foreign mercenaries. Michael, who's he who 452 00:42:40.639 --> 00:42:46.199 has a why to live? Can bear almost anyhow, Yeah, I think 453 00:42:46.239 --> 00:42:50.920 that's right. The why is what's important. Why do you want to live? 454 00:42:51.039 --> 00:42:53.599 In other words, purpose meaning purpose is the key to having a good 455 00:42:53.599 --> 00:42:57.119 life. You have that purpose in life. And if you have purpose in 456 00:42:57.119 --> 00:43:07.360 life, yes you can. You can sustain almost anything. Liam. There 457 00:43:07.440 --> 00:43:10.920 are a lot of useful idiots at the Cause Against Civilization. Yeah, some 458 00:43:12.000 --> 00:43:16.000 of them are even here on the chat. James, would you say restaurants 459 00:43:16.000 --> 00:43:20.639 and street food are better in London than New York City? You know, 460 00:43:21.280 --> 00:43:28.760 I don't know. I have to admit I've probably eaten more. I've probably 461 00:43:28.800 --> 00:43:32.480 eaten moored restaurants of my choosing in London than in New York City. So 462 00:43:32.559 --> 00:43:37.159 London, I usually am here alone and I usually get to choose what restaurants 463 00:43:37.159 --> 00:43:39.679 to go to. And in New York City it's usually a business dinner or 464 00:43:39.719 --> 00:43:43.880 something like that. And then yeah, you get great steakhouses and you get 465 00:43:43.880 --> 00:43:49.519 but the standard American food. There are great restaurants in New York. But 466 00:43:49.719 --> 00:43:54.760 in terms of variety and diversity, I think London's better. I think the 467 00:43:54.760 --> 00:43:58.039 food scene in London. Now, I don't know about street food. I'm 468 00:43:58.079 --> 00:44:00.920 not big on street food, but in terms of restaur I think the restaurants 469 00:44:00.920 --> 00:44:06.880 are better in London. I mean, You've got a two star michelan African 470 00:44:06.920 --> 00:44:10.480 restaurant in London, I don't know that there's another two star Micheline African restaurant 471 00:44:10.519 --> 00:44:14.920 anywhere in the world. And then you've got a one star Michelin rest African 472 00:44:14.960 --> 00:44:17.440 restaurant, both a phenomenal, right, just phenomenal. You don't have that 473 00:44:17.480 --> 00:44:23.679 anyway. You have a two star a Chinese restaurant in London. I don't 474 00:44:23.719 --> 00:44:30.000 know where else there's a two star Chinese restaurant. I don't know if there's 475 00:44:30.000 --> 00:44:36.159 one in New York. And then you've got then you've got a bunch of 476 00:44:36.559 --> 00:44:40.239 just good restaurants that are not I think right now, I follow this list 477 00:44:40.280 --> 00:44:46.079 the top fifty restaurants in the world. I think right now they're more London 478 00:44:46.159 --> 00:44:51.000 restaurants in the top fifty than New York. I think even if you go 479 00:44:51.039 --> 00:44:53.079 to the top hundred, I think they're more in London than New York. 480 00:44:53.760 --> 00:44:58.280 So I would have to say right now, and that doesn't even include all 481 00:44:58.320 --> 00:45:02.440 the little places that don't have Micheland stars are not listed. But it's just 482 00:45:02.599 --> 00:45:07.159 phenomenal food. Now again, that exists in New York, but I have 483 00:45:07.199 --> 00:45:09.239 a sense that it's even more so in London. And a lot of that 484 00:45:09.559 --> 00:45:14.119 is because of something some of you dislike and a lot of that is because 485 00:45:14.119 --> 00:45:19.880 of immigrants. The variety of immigrants, a variety of places that are coming 486 00:45:19.920 --> 00:45:25.880 from has enhanced the food seene in London dramatically. So, as I said, 487 00:45:25.880 --> 00:45:31.760 you get great African restaurants. There's a big immigration immigrant population from Western 488 00:45:31.760 --> 00:45:37.400 Africa in London, a lot of Nigerians, but from other parts of Africa 489 00:45:37.440 --> 00:45:43.400 as well, but typically West Africa, not East Africa. And then you've 490 00:45:43.440 --> 00:45:46.000 got obviously be at least food which is phenomenal, but a lot of Asian 491 00:45:46.000 --> 00:45:51.360 food. I mean, my hotel here is right in Chinatown and just with 492 00:45:51.559 --> 00:45:55.159 inner radius of five minute walk, they are probably hundreds of restaurants, every 493 00:45:55.239 --> 00:46:01.519 type of every type of Asian food, mamagine, and most of them really 494 00:46:01.519 --> 00:46:05.679 really good. Then they's Spanish restaurants, French restaurants, it's just everything. 495 00:46:06.480 --> 00:46:08.440 And as I said yesterday, I think even British food has gotten better. 496 00:46:12.400 --> 00:46:15.280 Clock is it time to admit that Goop has morphed into a quasi Nazi party. 497 00:46:16.519 --> 00:46:21.320 No, I think that is that it's still an exaggeration. I don't 498 00:46:21.320 --> 00:46:22.840 think it's quite there. It's certainly moving in that direction, but it's not 499 00:46:22.920 --> 00:46:30.840 quite there. I think that the goop is is morphing into fascist party, 500 00:46:30.840 --> 00:46:34.519 but so is the Democratic Party. I think both parties ultimately a fascist it's 501 00:46:34.639 --> 00:46:43.000 just different orientations. But no, Nazis were bad in a unique They were 502 00:46:43.119 --> 00:46:46.159 uniquely evil in a way that I know. I don't think the Republican Party 503 00:46:46.199 --> 00:46:52.719 has morphed into it yet, and I don't know that it will. Maybe 504 00:46:52.800 --> 00:46:57.480 part of the reason is we just don't have the kind of charismatical leader that 505 00:46:58.280 --> 00:47:02.760 Hitler was in America yet, who found a way to unify Germany around the 506 00:47:02.840 --> 00:47:07.639 cause. In the United States seems more fragmented than ever because of the leaders 507 00:47:07.719 --> 00:47:22.320 not unified around some dictator. Uh uheren Son greeting from Germany. Thank you 508 00:47:22.360 --> 00:47:25.159 for all your content. Thanks for watching from Germany. Really really appreciate it. 509 00:47:25.559 --> 00:47:29.840 I'm glad you're enjoying the content. All right, guys, we're almost 510 00:47:29.880 --> 00:47:32.280 out of super chat questions, so fear fee to ask anything you want. 511 00:47:32.440 --> 00:47:37.519 If you're interested in asking, now's the time, Clark says Tucker. Casson 512 00:47:37.599 --> 00:47:42.360 reminds me a lot of Richard Spencer, same Haycotts, same dress. They 513 00:47:42.400 --> 00:47:45.039 both inherited hundreds of millions of dollars from a wasp family. I didn't know 514 00:47:45.039 --> 00:47:50.679 that about Richard Spencer and seek to be white nationalist philosopher Kings. Yeah, 515 00:47:50.719 --> 00:47:57.199 I mean Richard Spencer's nastier and more evil and more explicitly racist. Tucker Cousen 516 00:47:58.360 --> 00:48:01.159 is much if I don't know how racist he really is. I think Tucker 517 00:48:01.239 --> 00:48:09.039 Coulson is a is secondhanded and seeks popularity and knows what his audience is looking 518 00:48:09.079 --> 00:48:15.280 for and feeds the audience what they want. I don't think I think Richardspense 519 00:48:15.400 --> 00:48:20.280 is an ideologue. I don't think Tucker Coulson is. I don't think he's 520 00:48:20.320 --> 00:48:24.679 a I think he wants power. I think he wants popularity. And I 521 00:48:24.719 --> 00:48:29.840 think he's pretty stupid. I mean, I thought once he was smart, 522 00:48:29.840 --> 00:48:32.920 but he've become stupid. Or maybe it's an act, you know, because 523 00:48:34.000 --> 00:48:37.199 because his audience is stupid, that he's trying to try to capture the audience 524 00:48:37.239 --> 00:48:40.800 by doing stupid things. I mean, what he did in Moscow with the 525 00:48:42.119 --> 00:48:46.000 fast food chain, what he did in Moscow with the grocery store is stupid. 526 00:48:46.599 --> 00:48:51.199 It doesn't take much to figure out that you should think about exchange your 527 00:48:51.199 --> 00:48:53.920 age. You can think about the percentage of how much people spend on their 528 00:48:54.119 --> 00:48:59.599 food of their income that they spend on food that you're buying in a grocery 529 00:48:59.639 --> 00:49:04.239 store. That's particularly nice because you're in a rich neighborhood. So is he 530 00:49:04.639 --> 00:49:09.440 dishonest? And yeah, he's dishonest, and dishonesty makes you stupid. Tucker 531 00:49:09.480 --> 00:49:13.559 Coust is a great example of that, So have you. Tuk Across as 532 00:49:13.480 --> 00:49:20.760 a power lust is not quite yet on the white nationalist side, although he's 533 00:49:20.760 --> 00:49:27.440 obviously implicitly supporting that position. Robert Spencer is Robert Richard Spencer. Sorry, 534 00:49:27.519 --> 00:49:30.400 Richard Spencer is out and out a white nationalist. He's out there. He 535 00:49:30.440 --> 00:49:35.559 says it, he supports it, he writes about it. He's not embarrassed 536 00:49:35.559 --> 00:49:40.360 by it. He doesn't retract it. That's who he is. Tucker's not. 537 00:49:40.519 --> 00:49:50.199 Tucker's still playing this game, all right. Paulo says, have you 538 00:49:50.360 --> 00:49:53.880 had pie and mash and jellied eels? No? And I'm not going to. 539 00:49:54.119 --> 00:49:57.880 I mean I've had it in the past, but I don't like British 540 00:49:57.920 --> 00:50:05.320 food. Classic British food is and and pretty disgusting. Um and uh so 541 00:50:05.320 --> 00:50:12.840 so no, m that due to Bunny, the incompetence is becoming next level. 542 00:50:12.840 --> 00:50:15.800 I assume you're talking about me. Well, uh, you know what 543 00:50:15.920 --> 00:50:20.119 can I say? You're still here for some reason. I don't know what 544 00:50:20.119 --> 00:50:23.880 you're doing here. If you think I'm incompetent, Thank you a yell. 545 00:50:24.639 --> 00:50:34.199 Frank Sais Spain soldiers changing their gender for benefits. That takes a pretty sick 546 00:50:34.320 --> 00:50:38.480 mind. Changing their gender. They're claiming to be a different gender, they're 547 00:50:38.480 --> 00:50:44.960 actually having operation, They're mutilating their own bodies for benefits. What exactly is 548 00:50:45.000 --> 00:50:47.840 going on there? I'll have to research that. It sounds sounds a little 549 00:50:47.920 --> 00:50:51.440 radical, other than maybe they're saying, oh, I'm a different gender that 550 00:50:51.800 --> 00:50:54.199 you know, then it's easy to get the benefits by changing that in that 551 00:50:54.320 --> 00:51:01.480 sense. But Talbin says, great point on globalization, trade and right wing 552 00:51:01.679 --> 00:51:07.239 what about ism? All the best, but thank you, really appreciate it. 553 00:51:07.239 --> 00:51:14.199 It's great to know that people are listening. Apaulos says, have you 554 00:51:14.239 --> 00:51:17.519 any stories about visiting London? Now? I said earlier, I think in 555 00:51:17.519 --> 00:51:22.760 the previous show, I said, how normal London looks. It looks like 556 00:51:22.840 --> 00:51:28.760 it looked before COVID. It's packed with people, it's hustling, bustling, 557 00:51:29.880 --> 00:51:37.960 and this perspective of you know, it's overrun by Muslims, and it's unsafe 558 00:51:38.039 --> 00:51:42.920 and it's it's scary. I mean, maybe that's somewhere in the periphery, 559 00:51:43.679 --> 00:51:46.840 and maybe that's on Saturdays or Sundays whenever it is that they protest. Maybe 560 00:51:46.840 --> 00:51:52.400 that's what it's like, you know, it probably is. But I was 561 00:51:52.559 --> 00:51:59.239 pleasantly surprised this evening walking around Soho and walking around the scenter of London by 562 00:51:59.440 --> 00:52:01.400 just how many people are here. I mean literally, it was hard to 563 00:52:01.440 --> 00:52:07.760 squeeze between the crowds and how normal it all looks, and how bustling the 564 00:52:08.000 --> 00:52:12.760 restaurants are, and how many restaurants there are, and just London the way 565 00:52:12.760 --> 00:52:19.400 it was and has been for the last couple of years. So Islam is 566 00:52:19.440 --> 00:52:24.280 a real problem here, and certain parts of the city, you know, 567 00:52:24.320 --> 00:52:31.719 in a sense devastated by this. The weekend protests are horrific and the fact, 568 00:52:31.800 --> 00:52:36.639 I mean, it all boils down ultimately, it really boils down ultimately 569 00:52:37.199 --> 00:52:44.239 to the fact that the police won't buy better laws. There's no rule of 570 00:52:44.280 --> 00:52:49.840 law anymore. And this has always been the case, right, This has 571 00:52:49.840 --> 00:52:53.599 always been the case that if you don't apply the laws to new immigrants, 572 00:52:54.039 --> 00:52:58.639 if you let immigrants get away with bad stuff, then guess what they will 573 00:52:58.679 --> 00:53:00.920 do. They will do bad stuff. They will learn from that that they 574 00:53:00.960 --> 00:53:06.000 don't have to assimilate to the rule of law in the western country. That 575 00:53:06.039 --> 00:53:10.239 they can uh keep the traditions of violence and badly treated women and all of 576 00:53:10.239 --> 00:53:15.440 that and somehow get away with that and there are no consequences to that, 577 00:53:15.519 --> 00:53:20.280 and that the new society that they've got will tolerate that. And that is 578 00:53:20.559 --> 00:53:27.320 a hundred percent the wrong message to send, uh to send people. So, 579 00:53:27.559 --> 00:53:30.519 I mean, London is is y, as I've said many times in 580 00:53:30.519 --> 00:53:34.760 the past, one of my favorite cities in the world. It's it's a 581 00:53:34.800 --> 00:53:37.559 walkable city. You can you can uh y you know, you can't walk 582 00:53:37.599 --> 00:53:40.079 everywhere, but you can walk a big chunks of it. You can take 583 00:53:40.079 --> 00:53:44.639 a u an uber places and they walk there. Every neighborhood is a little 584 00:53:44.679 --> 00:53:49.559 different. It has this beautiful mixture of architecture old and new and and middle. 585 00:53:50.320 --> 00:53:54.880 Uh. Every neighborhood has very much its own characteristics. It's it's similar 586 00:53:54.960 --> 00:54:00.400 in that sense to New York in but in some ways more so actually, 587 00:54:00.400 --> 00:54:05.519 because you know, it's older, so there's more variety. Little alleys in 588 00:54:05.559 --> 00:54:08.760 some places white streets, and other places beautiful parks, beautiful parks, more 589 00:54:08.800 --> 00:54:17.320 parks, and I think any other city I know really really magnificent and yeah, 590 00:54:17.480 --> 00:54:22.679 just a just a fantastic place to visit. I don't know what it's 591 00:54:22.719 --> 00:54:28.559 like to live here. I wouldn't want to drive here, and I'm not 592 00:54:28.559 --> 00:54:31.119 sure I wanted to start a business here, but inters of visiting, yeah, 593 00:54:31.519 --> 00:54:36.280 it's it's fantastic. And I encourage encourage you guys to travel, and 594 00:54:36.360 --> 00:54:43.039 I encourage you guys to to travel all over and make London a part of 595 00:54:43.079 --> 00:54:50.559 those travels. Yea. What do you think of Chagipt's poem writing skills? 596 00:54:53.079 --> 00:54:58.239 I think the mediocre. I mean, I'm not an expert on poetry and 597 00:54:58.280 --> 00:55:00.360 I haven't done a deep dive into Chatchept poetry, but what I've seen is 598 00:55:00.360 --> 00:55:05.840 pretty mediocre. There's no Tennyson, there's no Shakespeare, there's no Milton in 599 00:55:05.920 --> 00:55:10.360 any of those poems. So it's yeah, it's a it's a it's a 600 00:55:10.400 --> 00:55:22.719 pretty it's it's it's really cool. It's really cool. Scotts, has any 601 00:55:22.760 --> 00:55:27.440 news about your April May project yet? No? I mean I have news, 602 00:55:27.480 --> 00:55:30.960 but I'm not telling you. I'm not sharing it with you. Contracts 603 00:55:30.960 --> 00:55:34.960 are being signed, things are ready to go. But I will share information 604 00:55:35.119 --> 00:55:42.920 with you. I will share information with you once once I need to so 605 00:55:43.039 --> 00:55:49.480 on it need to know basis so probably probably early April, probably early April, 606 00:55:49.599 --> 00:55:52.920 because I'll need people who live in the Miami area. I might need 607 00:55:53.079 --> 00:56:02.920 some help from people in Miami. Am all right, Uh, let's see 608 00:56:04.519 --> 00:56:12.360 how projectionist is. Great. Britain more than they should be, significantly more 609 00:56:12.360 --> 00:56:15.639 than they should be, more than they promised they would be. Remember when 610 00:56:15.679 --> 00:56:21.679 Brexit happened. The promise was that they would basically become a free trade island, 611 00:56:22.159 --> 00:56:25.760 that they would sign trade agreements with the rest of the world, which 612 00:56:25.800 --> 00:56:30.320 the EU did not allow them to do. Independently of the EU, they 613 00:56:30.320 --> 00:56:34.239 would have a trade deal with the United States, and they tried. Neither 614 00:56:34.320 --> 00:56:37.519 the Trumpet administration or the Bide administration actually wanted a trade deal with the UK 615 00:56:39.079 --> 00:56:44.320 that freed up trade. They've got trade deals I think it was Australia and 616 00:56:44.360 --> 00:56:47.800 some of all the British old British colonies, but not the United States. 617 00:56:49.639 --> 00:56:53.119 But they lost the free trade deal they had with Europe, which was amazing, 618 00:56:53.840 --> 00:56:59.960 right, And I don't think they've compensated. I don't think they've compensated 619 00:57:00.079 --> 00:57:07.159 for that in any kind of way. So you know, they haven't made 620 00:57:07.239 --> 00:57:13.280 up for the fact that they lost free movement of capital, goods and people. 621 00:57:14.840 --> 00:57:19.119 There's still in spite of the increased immigration in the UK, there's still 622 00:57:19.119 --> 00:57:22.599 a massive shortage of labor here, just like there was in the United States. 623 00:57:22.400 --> 00:57:30.880 And they they used to make it was very easy for Spaniards and Portuguese 624 00:57:30.920 --> 00:57:37.000 and Poles and Ukrainians. Ukrainians less but for for for Poles because Ukraine's are 625 00:57:37.000 --> 00:57:40.840 part of the U, but all the participants in the Shengen, the free 626 00:57:40.920 --> 00:57:45.719 immigration portion of the EU, to come to the UK and to work, 627 00:57:45.920 --> 00:57:47.119 and it was great. It was great for the UK. It was great 628 00:57:47.119 --> 00:57:52.679 for these people and jobs were filled. And now there's massive shortages positions, 629 00:57:52.760 --> 00:58:00.960 and there's still a lot of immigration coming in. It's now immigration places like 630 00:58:00.039 --> 00:58:07.159 Nigeria and Pakistan and India and places like that rather than from Europe. And 631 00:58:07.480 --> 00:58:10.440 I don't think the Brits prefer this immigration now, I have no problem with 632 00:58:10.480 --> 00:58:16.119 it, and but there's but as much as they has been and in spite 633 00:58:16.119 --> 00:58:20.880 of the fact that the UK is in acession, though you can't tell in 634 00:58:20.920 --> 00:58:25.119 London there's still a shortage of labor for places like restaurants and plays like that. 635 00:58:27.960 --> 00:58:37.199 Uh, so you know it's uh, it is clearly, it is. 636 00:58:37.320 --> 00:58:46.079 Clearly protectionism is strong in the UK unfortunately, and there was a movement 637 00:58:46.199 --> 00:58:50.599 right after Brexit to bring about free trade. But I think I think the 638 00:58:50.639 --> 00:58:54.880 the the the right in the UK is basically finished. The Concernedive Party is 639 00:58:54.920 --> 00:59:06.000 going to suffer massive losses at the polls, and the left is the left 640 00:59:06.039 --> 00:59:08.679 is anti trade, and then New Right is anti trade and their old Conservatives 641 00:59:09.760 --> 00:59:14.239 who are pro trade are going to be kicked out. And they've done nothing. 642 00:59:14.320 --> 00:59:17.719 They've done nothing in supportive trade. So I don't think tariffs are terrible 643 00:59:17.760 --> 00:59:24.119 in the UK. I think generally it's relatively open for trade, but it's 644 00:59:24.239 --> 00:59:30.400 far far less than what they promised when they did Brexit, and indeed they've 645 00:59:30.400 --> 00:59:32.679 done nothing that they promised when they left Exit. They said they would deregulate, 646 00:59:34.039 --> 00:59:38.159 they said they would, they said they would, they would increase trade, 647 00:59:38.360 --> 00:59:43.039 they would increase globalization and trade. They said all these things and they 648 00:59:43.039 --> 00:59:45.440 didn't do it. And I think a direct result from that, I mean 649 00:59:45.639 --> 00:59:59.840 literally a direct result from that is recession. The UK economy is not doing 650 00:59:59.840 --> 01:00:06.239 what and that's a direct result from Brexit and a direct result from the fact 651 01:00:06.320 --> 01:00:08.119 that they haven't done the things that they promised they would do. Well, 652 01:00:08.159 --> 01:00:13.039 all good things, we're all good things. That they haven't done the things 653 01:00:13.039 --> 01:00:19.039 that they would do in terms of free trade and in terms of deregulation to 654 01:00:19.079 --> 01:00:22.400 bring it about, to bring about great economic growth. So instead they have 655 01:00:22.800 --> 01:00:37.119 a horrible recession. All right, Lee says, how you're on any ideas 656 01:00:37.159 --> 01:00:44.960 on thought experiments to help sort one's values into hierarchy? Wow, thought experiments? 657 01:00:45.039 --> 01:00:46.880 I mean what you really need to do is introspect, right, and 658 01:00:46.960 --> 01:00:51.239 thought experiments are part of that, can be part of that. But yes, 659 01:00:51.280 --> 01:00:55.400 I mean imagine yourself in different situations, think about what's valuable to you 660 01:00:55.480 --> 01:01:01.079 or not. Make lists of values, Make lists of things that you get 661 01:01:01.079 --> 01:01:07.559 excited about if you're passionate about. Cross reference to those lists with Are these 662 01:01:07.639 --> 01:01:10.519 values pro life? Are they rational? Do they make sense? So don't 663 01:01:10.599 --> 01:01:16.000 just accept something as a value because you quote value it because you won't want 664 01:01:16.039 --> 01:01:21.559 it, But cross references with reason? Right? Is it irrational value for 665 01:01:21.559 --> 01:01:23.559 me to hold? Is it pro life? Is it prolonging my life? 666 01:01:23.599 --> 01:01:30.519 Is it the best use of my time? So emotions are guide to forming 667 01:01:30.519 --> 01:01:32.599 these lists, but they're not a guide for what values you should pursue. 668 01:01:32.920 --> 01:01:36.880 What values you should pursue. It should be a product of your reason. 669 01:01:37.599 --> 01:01:45.079 It should be a product of of you know, figuring out what is consistent 670 01:01:45.119 --> 01:01:46.559 with your life, what is good for your life in the long run. 671 01:01:49.800 --> 01:01:54.039 All right, So I think just imagining yourself in different situations. Imagine you 672 01:01:54.079 --> 01:01:59.599 know, so I want a sports call. So imagine getting a sports call. 673 01:01:59.639 --> 01:02:00.679 What am I to do with it? How is my life going to 674 01:02:00.800 --> 01:02:05.119 change? Is my life dramatically better because I have a sports call? I 675 01:02:05.119 --> 01:02:07.960 want a sports call. It's cool to have a sports call. But is 676 01:02:07.000 --> 01:02:09.639 the coolness come from the joy that you get from driving it? Can you 677 01:02:09.719 --> 01:02:14.400 drive it? Are the roads such that you can actually drive it and get 678 01:02:14.440 --> 01:02:16.440 the enjoyment out of it? Or is the cool come from the way other 679 01:02:16.440 --> 01:02:19.960 people look at you? In the way other people? Well, that's secondhanded. 680 01:02:20.400 --> 01:02:22.039 We don't like second handed values. We don't think they're good for you. 681 01:02:22.119 --> 01:02:27.159 In objectivism, put that one aside. I'll have to deal with I 682 01:02:27.239 --> 01:02:30.760 still have to deal with second handed issues in my life. So it's it's 683 01:02:31.519 --> 01:02:37.840 imagine getting the thing, achieving that value, and then think about think about 684 01:02:37.920 --> 01:02:45.320 all the things that that all the implications of that, and how it impacts 685 01:02:45.320 --> 01:02:47.719 your life and does it further your life. Doesn't make your life better in 686 01:02:47.760 --> 01:03:01.360 any kind of substantive way. Yeah, yeah, I mean, alright, 687 01:03:02.360 --> 01:03:07.000 I'm looking at chat. I I I shouldn't. I shouldn't look at the 688 01:03:07.079 --> 01:03:09.639 chat. Alright, Alright, you guys need some econ lessons and some just 689 01:03:09.719 --> 01:03:15.239 basic lessons about facts. The the the the i UK never had the Euro 690 01:03:15.400 --> 01:03:17.159 even though it was part of the European Union, it had anything with you. 691 01:03:17.320 --> 01:03:21.440 The U is actually really good, you as good for the countries who 692 01:03:21.599 --> 01:03:23.519 use it. It. It's far superior to the local currencies. Most of 693 01:03:23.519 --> 01:03:28.440 the countries they use the Euro to accept the Germans. Almost every other country 694 01:03:28.519 --> 01:03:31.039 has a tendency tained flight if they had their own currency. So, uh, 695 01:03:31.400 --> 01:03:36.400 the the euro's good. The European Union is good. It's just not 696 01:03:36.480 --> 01:03:38.280 as good as it could be. You know, the Euro should be gold 697 01:03:38.320 --> 01:03:45.639 and and the European Union should move towards a a uh uh luzafacapolism and get 698 01:03:45.679 --> 01:03:49.880 rid of all the regulations. But as compared to the alternative. The euro 699 01:03:50.000 --> 01:03:52.320 and the European Union are pretty damn good, and the UK could have had 700 01:03:52.360 --> 01:03:57.199 it better than the European Union, could have left the European Union and and 701 01:03:57.280 --> 01:04:01.119 created something even better. But they didn't. They didn't make anything better. 702 01:04:01.159 --> 01:04:09.079 They made things worse because they basically rejected the one fundamental value of the European 703 01:04:09.159 --> 01:04:14.760 Union is free trade. There are no trade barriers between members of the European 704 01:04:14.840 --> 01:04:18.440 Union, so there's one big trading block, and that in and of itself 705 01:04:18.519 --> 01:04:23.960 is a massive wealth creator, and the UK used to be part of that 706 01:04:24.480 --> 01:04:28.039 and it is no longer. So today between the UK and Europe there are 707 01:04:28.079 --> 01:04:31.840 massive trade barriers, capital barriers and immigration barriers, and that makes the UK 708 01:04:31.960 --> 01:04:38.719 poorer and it makes the EU slightly poor, makes both poor. Now, 709 01:04:39.800 --> 01:04:44.920 the UK could have overcome that by liberalizing its own markets, by getting rid 710 01:04:44.960 --> 01:04:47.599 of all the regulations that the EO imposed on and by getting rid of the 711 01:04:48.000 --> 01:04:55.400 controls, by getting rid of the tariffs with other countries around the world. 712 01:04:55.760 --> 01:04:58.800 But the UK didn't do that. It didn't do that. It didn't get 713 01:04:58.880 --> 01:05:03.119 rid of the regulations and it it it it. It didn't get rid of 714 01:05:03.159 --> 01:05:09.840 the uh tariffs, and as a consequence, the UK is getting poor and 715 01:05:10.920 --> 01:05:18.400 Europe is doing better than the UK. And I think pretty much everybody agrees 716 01:05:19.199 --> 01:05:23.599 that Brexit has been a disaster. If it was up for vote today, 717 01:05:23.679 --> 01:05:30.000 it would fail by a big margin. Big margin. All right, everybody, 718 01:05:30.559 --> 01:05:34.119 thank you. It's getting laid over here. It's already what eleven o'clock. 719 01:05:34.679 --> 01:05:39.280 I'm gonna call it a night. I'll see you all. I don't 720 01:05:39.280 --> 01:05:42.760 think tomorrow, but i'll see you all sometime, maybe from Amsterdam. I'll 721 01:05:42.760 --> 01:05:45.159 do a show from Amsterdam, but if not, i'll see you again in 722 01:05:45.199 --> 01:05:47.599 London next week. Bye, everybody, have a great night.