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<v Speaker 1>And this is show right, everybody, welcome to your On

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<v Speaker 1>Brooks Show on this Tuesday, August sixth, uh fifth, not

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<v Speaker 1>August sixth yet stole August fifth, fifth fifth little jet

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<v Speaker 1>lag yea, hopefully everything everybody's having a good start to

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<v Speaker 1>you a week.

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<v Speaker 2>As you can see, I'm not at home.

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<v Speaker 1>Uh, this is uh, this is I am in Lisabon, Portugal.

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<v Speaker 1>This is an office I rended in Lisbon. So, uh,

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<v Speaker 1>you're stuck with this background for the next We are

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<v Speaker 1>stuck with this background for the next three weeks, so

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<v Speaker 1>almost three weeks that I am going to be in

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<v Speaker 1>in Lisbon. So I will be, you know, trying to

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<v Speaker 1>keep you guys up to date on my travels as

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<v Speaker 1>we go along, telling you a little bit about what's

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<v Speaker 1>going on over here, just impressions of the different different places,

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<v Speaker 1>but and also covering the usual, the news and everything else,

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<v Speaker 1>so you guys stay up to date. All right, Let's see,

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<v Speaker 1>I just need to get Yeah, the setup here is

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<v Speaker 1>a little different, so I'm just trying to get everything

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<v Speaker 1>up to speed. There we go. We've got people on

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<v Speaker 1>the chat, We've got people watching all right the time.

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<v Speaker 1>The schedule for this week is going to be a

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<v Speaker 1>little in and out. We'll see. I'm hoping to do

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<v Speaker 1>a show tomorrow at twelve pm East Coast time, and

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<v Speaker 1>then the show on let's see Thursday and Friday, we'll see,

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<v Speaker 1>and then I'm not sure I'll be able to do

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<v Speaker 1>a show on Saturday and on Sunday.

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<v Speaker 2>I think I'm.

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<v Speaker 1>Going out with a bunch of The objective is here

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<v Speaker 1>in Portugal. Our fans are here in Portugal, to dinners

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<v Speaker 1>are probably not. Time difference is about five hours, is

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<v Speaker 1>exactly five hours to the East coast. I'll be in

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<v Speaker 1>Italy later in actually in September, and then it'll be

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<v Speaker 1>six hours. So again we'll have to shift the schedule

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<v Speaker 1>and it become even more complicated. I don't know. You

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<v Speaker 1>guys like the stripes, don't Oh, Silvanus is here. Oh,

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<v Speaker 1>I haven't seen Silvanas in a while. Hey, Savanas, thank you,

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<v Speaker 1>and thank you for the fifty dollars. That is very

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<v Speaker 1>very generous. Really appreciate that.

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<v Speaker 2>All right, let's just jump in, we'll jump into the news.

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<v Speaker 1>I'll just say I don't know first impressions of Lisbon.

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<v Speaker 1>You know, I like Lisbon. I've been here several times.

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<v Speaker 1>We've had a great little airbnb apartment here, and I think, what,

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<v Speaker 1>what is a very nice and philly central area. Uh yeah,

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<v Speaker 1>it's it's it's not as walkable as Barcelona was from

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<v Speaker 1>last year, partially because uh streets and narrow. Uh these

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<v Speaker 1>little stones, the streets are, the pavements are all these

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<v Speaker 1>little stones, which is kind of pretty, but it's very

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<v Speaker 1>slippery to really be careful, very hilly. A Barcelona is flat,

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<v Speaker 1>lots of trees, white boulevards, easy, easy, easy to walk through,

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<v Speaker 1>shade everywhere. Easy. Here it's a little different. Everything's narrow,

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<v Speaker 1>smaller cobblestones. Yeah, But other than that, it's it's it's

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<v Speaker 1>a cool place to be. We were so far day one,

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<v Speaker 1>having a good time, all right, And we got this

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<v Speaker 1>office and it's all set up, and we got the

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<v Speaker 1>cam and sound and everything's working, and we got a

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<v Speaker 1>great internet set up, so we should have no problems

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<v Speaker 1>as as we move. As we move forward, how's the picture,

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<v Speaker 1>you guys? Okay with the picture lighting all of that.

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<v Speaker 1>Just let us know. Savannas's excuse is he was on vacation.

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<v Speaker 1>So I take it that you don't watch your on

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<v Speaker 1>book show live when you're on vacation. I mean, it's

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<v Speaker 1>not your top priority when you're on vacation. I am kidding, kidding,

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<v Speaker 1>all right, So let's start. I mean, the you know,

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<v Speaker 1>the Congress is going to be incredibly competitive in the

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<v Speaker 1>election next year and in twenty six, and Republicans are

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<v Speaker 1>very worried because there's a good chance the Republicans are

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<v Speaker 1>going to lose the House. The election, the mid term

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<v Speaker 1>election is usually one in which the incumbent political party loses,

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<v Speaker 1>and right now the Republicans have what a three vote

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<v Speaker 1>majority in the House of Representative.

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<v Speaker 2>It's very likely.

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<v Speaker 1>You know, if you had to put odds on it,

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<v Speaker 1>just put aside all the politics and what's going on

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<v Speaker 1>in the world, just straight straight precedent, you'd have to

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<v Speaker 1>argue that it's incredibly likely that Republicans lose the House

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<v Speaker 1>of Representatives. I don't know if they lose the Senate,

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<v Speaker 1>that's going to be a lot closer. They probably don't

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<v Speaker 1>gain in the Senate, but I don't think Republicans lose

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<v Speaker 1>the Senate either, So it'll be interesting to see. It'll

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<v Speaker 1>be interesting to see what happens, But houses good chance

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<v Speaker 1>that they that they lose it, and they could lose

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<v Speaker 1>big given how unpopular. Trump is the only thing saving

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<v Speaker 1>Republicans right now from completely being slaught in the medium

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<v Speaker 1>election is the fact that there's only one thing more

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<v Speaker 1>unpopular than Trump. And the thing that is more unpopular

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<v Speaker 1>than Trump is other Democrats, so less popular than Trump.

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<v Speaker 1>But Trump is very unpopular. The tariffs are very unpopular.

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<v Speaker 1>I think by next year people will feel the tariffs.

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<v Speaker 1>They'll pay the cost of the tarists. We'll talk about

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<v Speaker 1>taffs in a minute. But people have said, oh, you

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<v Speaker 1>can avoid the trouts by just not buying stuff that's

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<v Speaker 1>made in outside the United States. It's easier said than done.

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<v Speaker 2>Like what smartphone would you buy now? Right now?

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<v Speaker 1>There's an exception for smartphones, right, but if the tarts

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<v Speaker 1>go on smartphones, what smartphone would you buy? But put

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<v Speaker 1>that aside. A lot of the things you buy that

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<v Speaker 1>are labeled made in the United States States have components

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<v Speaker 1>that are not made in the United States, so you're

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<v Speaker 1>paying a TA one way or the other. What about clothes,

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<v Speaker 1>Any of you buy clothes, how many you only buy

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<v Speaker 1>clothes made in America? Like, do you have anything to wear?

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<v Speaker 1>There's almost no clothes made in America. So you can

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<v Speaker 1>try to go out there and buy buy America and

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<v Speaker 1>you know, avoid paying the tariff that way. But the

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<v Speaker 1>chance that you can actually be successful is very, very

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<v Speaker 1>very low. It's just not doable. It's just not practical. Anyway.

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<v Speaker 1>The consequence of the fact that Republicans are probably going

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<v Speaker 1>to lose the House is a is a little bit

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<v Speaker 1>of panic in the Republican Party, and the consequence of

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<v Speaker 1>the panic is to try to figure out how to

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<v Speaker 1>minimize the losses or to reverse them. And one way

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<v Speaker 1>to do that is what's called to gerry manda.

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<v Speaker 3>That is to re redo the borders of the districts

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<v Speaker 3>to elect elect members to the House of Representatives in

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<v Speaker 3>order to maximize the number of Republicans that get elected.

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<v Speaker 1>So the state doing that right now that has already

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<v Speaker 1>proposed a map that they believe would increase the number

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<v Speaker 1>of Republicans in the House of Representative by five is Texas.

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<v Speaker 1>And what they basically do, what we jurymandering, what redistricting

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<v Speaker 1>basically comprises up, is drawing the lines to the districts

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<v Speaker 1>in ways that in a sense, concentrate all the Democrats

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<v Speaker 1>in a few districts which you're going to lose and

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<v Speaker 1>diluting their presence and all the other districts, including districts

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<v Speaker 1>maybe they used to have a majority. Now you split

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<v Speaker 1>that district up in a way that puts all that

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<v Speaker 1>splits the Democrats with the Republicans in a way that

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<v Speaker 1>Republicans have a majority in each one of those. This

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<v Speaker 1>is being done almost since the founding, and it was

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<v Speaker 1>a it was a major it's a major way in

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<v Speaker 1>which the parties reach.

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<v Speaker 2>Again, now they do it.

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<v Speaker 1>They have to do it every ten years after the census,

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<v Speaker 1>because that's the time in which you get actual population

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<v Speaker 1>numbers and you know who's living where, and it's a

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<v Speaker 1>time to kind of redo redo the districts, the congressional districts.

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<v Speaker 1>But what Texas is doing is what is a twenty

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<v Speaker 1>twenty five, So we're not anywherey of a census. They're

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<v Speaker 1>doing it in the middle between two censuses, which is

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<v Speaker 1>not usual.

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<v Speaker 2>It's not something usually done.

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<v Speaker 1>It's it's an exception. But it's legal. There's no there's

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<v Speaker 1>no case to be made that it is illegal. It's illegal,

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<v Speaker 1>and there's no case to be made. This can't go

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<v Speaker 1>to the courts. There's arguably the courts will intervene and

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<v Speaker 1>if the gerrymandering is done along racial grounds, that is,

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<v Speaker 1>to to basically make sure that blacks don't get any

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<v Speaker 1>representatives out of places where there were a lot of blacks,

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<v Speaker 1>as I think the state of Alabama's been trying to do,

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<v Speaker 1>and the Supreme Court has denied them and kept keep

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<v Speaker 1>sending it back to redo, so they don't want to do.

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<v Speaker 1>You know, the courts generally will not review cases where

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<v Speaker 1>it's just political. So, I mean, so before we get

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<v Speaker 1>the Texas case. Just to give you some history, the

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<v Speaker 1>term jury mandering. Jury mandering goes back to eighteen twelve

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<v Speaker 1>when Massachusetts Governor Eldbridge Jerry signed a bill redrawing state

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<v Speaker 1>Senate districts to benefit the Democratic Republican Party I guess

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<v Speaker 1>against whom, I'm not sure, against the Whigs. So some thought,

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<v Speaker 1>you know, that the districts were very odd shaped, that

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<v Speaker 1>they looked one of them looked like a salamander. A

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<v Speaker 1>newspaper illustration dubbed it jerry manda, and the term has

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<v Speaker 1>now come down to describe any district drawn for political advantage,

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<v Speaker 1>drawn in order to maximize a particular party's presence in

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<v Speaker 1>a particular district or to minimize so uh jerry mandering.

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<v Speaker 1>Uh I I Elbridge. Jerry. By the way, UH lost

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<v Speaker 1>a reelection campaign to be governor of Massachusetts in eighteen twelve,

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<v Speaker 1>but he won election that same year as vice president

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<v Speaker 1>with UH president UH James Madison, so he was James

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<v Speaker 1>Madison Vice president again. According to the US Constitution, political

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<v Speaker 1>gerrymandering is not illegal. In a twenty nineteen case it

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<v Speaker 1>came out of North Carolina, the Supreme Court ruled the

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<v Speaker 1>federal courts have no authority to decide where the partisan

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<v Speaker 1>jerry mandering goes too far. UH Chief Justice Justice Roberts wrote, quote,

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<v Speaker 1>the Constitution supplies no objective measure for assessing whether a

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<v Speaker 1>district map treats a political party fairly. So Supreme Court's

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<v Speaker 1>not gonna save the Democrats from losing the fight vote

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<v Speaker 1>seats in Texas. Now, the dream, the plan, the redistricting plan,

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<v Speaker 1>has to pass the House and the Senate. It has

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<v Speaker 1>to be and then signed by the governor of the state.

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<v Speaker 1>Texas was going to vote on this this week or

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<v Speaker 1>last week, and the Democratic Democratic politicians just left the state.

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<v Speaker 1>They left the state to deny the Republicans in a

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<v Speaker 1>sense of qualum which would allow for vote. So this

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<v Speaker 1>is the delay tactic. They can't stop it. If they

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<v Speaker 1>stayed in Texas, state marshals would have showed up and

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<v Speaker 1>forced them to go to the state house. As it is,

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<v Speaker 1>they're being fined five hundred dollars a day, and Texas

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<v Speaker 1>will now sue the Democrats for dereliction of duty in

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<v Speaker 1>a sense or vacating their post. And so you know,

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<v Speaker 1>this is where we are again. It's legal, it's not right,

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<v Speaker 1>it's not good, it's not just. I mean, it would

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<v Speaker 1>be good if I don't know, Congress could pass a

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<v Speaker 1>law saying you can only change the districts after a

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<v Speaker 1>census once. So once every ten years you get a change.

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<v Speaker 1>You get to change the districts based on census information.

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<v Speaker 2>Which makes sense.

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<v Speaker 1>But the reality is that right now Congress cannot They

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<v Speaker 1>cannot get a bill passed if there's any opposition, if

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<v Speaker 1>the Republicans oppose it, I don't think there'll be enough

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<v Speaker 1>Republicans supporting this. The only thing that could cause Republicans

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<v Speaker 1>to maybe support something like that is if Democrats do

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<v Speaker 1>the same thing in other states. So Illinois has threatened

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<v Speaker 1>to do it. Now Illinois only has three Republican districts.

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<v Speaker 1>Maybe they could get rid of those three, I don't

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<v Speaker 1>know much more significant is New York is trying to

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<v Speaker 1>do it, could try to do this, California could try

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<v Speaker 1>to do this. Now in both places, it would require

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<v Speaker 1>them to deal with different provisions in the state constitutions

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<v Speaker 1>or in the legislation that have tried to control gerrymandering

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<v Speaker 1>in the past, try to limit it and minimize it.

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<v Speaker 1>But I think if the political will is there, and

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<v Speaker 1>I think if Texas does this, the political will is

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<v Speaker 1>there for them to gerrymander. And there might be other

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<v Speaker 1>Democratic states in which they can squeeze out a few

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<v Speaker 1>votes here and there, squeeze out a few Republicans here

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<v Speaker 1>and there, but it is it's a pretty despicable game overall. Yeah,

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<v Speaker 1>I mean, there are no objective standard by which you

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<v Speaker 1>should draw districts, but it does make sense to make

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<v Speaker 1>the districts, you know, geographically look reasonable rather than some

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<v Speaker 1>of the absurdities that are being generated by by these maps.

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<v Speaker 1>Jerry mandering, salamander, you know, these long, thin districts and

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<v Speaker 1>stuff like that. Uh, all of this is really being

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<v Speaker 1>done by the Democrats under the you know, under the

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<v Speaker 1>influence of Trump. I mean, Trump has has told the

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<v Speaker 1>Republicans that they need to do this. He put pressure

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<v Speaker 1>on Texas to do this. And this is Trump's comment.

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<v Speaker 1>You know it's it's perfectly trumpish to comment and probably

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<v Speaker 1>trumpish and and you know you'll get it. Okay, here

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<v Speaker 1>we go. Quote This is from Trump this morning. We

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<v Speaker 1>have an opportunity in Texas to pick up five seats.

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<v Speaker 1>We have a really good governor, and we have good

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<v Speaker 1>people in Texas. And I won Texas. I got the

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<v Speaker 1>highest vote in the history of Texas, as you probably know.

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<v Speaker 1>And we are entitled the five more seats. Now. I

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<v Speaker 1>have no idea if you got the most votes in

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<v Speaker 1>the history of Texas. I'm skeptical, but it doesn't really

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<v Speaker 1>matter what I find really that's part of the course

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<v Speaker 1>for Trump. What I find really interesting is that we

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<v Speaker 1>are entitled the five more seats. Now, who gets to

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<v Speaker 1>decide who is entitled to how many seats? The President

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<v Speaker 1>of the United States get to decide how many? I mean,

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<v Speaker 1>maybe he should just we should skip the midium election

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<v Speaker 1>completely and just have Donald Trump decide how many Sea

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<v Speaker 1>seats entitled to, how many seats Republicans are entitled to,

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<v Speaker 1>And that's what we should put in the House of Representatives.

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<v Speaker 1>I mean, why bother with an election when we're entitled

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<v Speaker 1>to some seats anyway, Again, this is a game the

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<v Speaker 1>Republicans and Democrats have been playing since eighteen twelve, although

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<v Speaker 1>they weren't Republicans Democrats in those days. But it's a

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<v Speaker 1>game they've been playing since eighteen twelve. It's a game

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<v Speaker 1>they'll continue to play. I this is particularly egregious, but

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<v Speaker 1>not for the first time. They ben as egregious, if

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<v Speaker 1>not I as egregious the cases in the past. Uh,

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<v Speaker 1>this will just lead the Democrats to do the same thing,

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<v Speaker 1>whether now in the future. Uh, it's uh, you know,

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<v Speaker 1>it's a it's a zero sum, silly a political game.

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<v Speaker 1>But Republicans are desperate. Remember this is an act of

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<v Speaker 1>desperation of Republicans. Uh are w really really really worried

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<v Speaker 1>about the mentum election, really really worried about losing the House,

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<v Speaker 1>and uh, they really don't want to lose the House? Yps,

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<v Speaker 1>tryna make sure the plug stays plugnant Like all right,

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<v Speaker 1>what did yes? So I'll keep you updated. Democrats will

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<v Speaker 1>come back to the state of Texas at some point.

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<v Speaker 1>Democratic donors will pay up they fine of five hundred

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<v Speaker 1>dollars a day that they're away, and Texas will have

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<v Speaker 1>new districts and they will have probably next election five

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<v Speaker 1>new Republican congressman. Of course, there's always an opportunity that voters, Yeah,

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<v Speaker 1>voters get so upset with the politicians and with the

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<v Speaker 1>Republican Party and everything else that's going on that they

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<v Speaker 1>just tell them to go to hell and vote for

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<v Speaker 1>a Democrat. Now, it's unlikely that will happen in Texas,

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<v Speaker 1>but one can always hope. Wouldn't be great if voters

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<v Speaker 1>penalize their own party sometimes for their misbehavior, both Democrats

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<v Speaker 1>and Republicans. Wouldn't that be cool if people actually weren't

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<v Speaker 1>fixated on a tribal affiliation with their political party and

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<v Speaker 1>actually voted what they thought in terms of whether the

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<v Speaker 1>legal party was doing good or bad, rather than a

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<v Speaker 1>tribal loyalty. So anyway, that's that's, uh, that's what we have.

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<v Speaker 1>And of course, uh. Trump's agenda depends on him keeping

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<v Speaker 1>the House and keeping the Senate the only way to

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<v Speaker 1>get legislation passed. Although he doesn't see to care much

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<v Speaker 1>about the legislation, he can always, he can always, you know,

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<v Speaker 1>sign executive voters. There is an issue of things like

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<v Speaker 1>impeachment and controlling the House just just is a lot easier,

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<v Speaker 1>for a lot easier for Trump. It would be a

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<v Speaker 1>lot easier if any president to control both chambers when

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<v Speaker 1>when the other party has one of the chambers, they

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<v Speaker 1>get a bully pulpit, they get media attention, they get coverage,

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<v Speaker 1>but more importantly, they get to pass the legislation, and

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<v Speaker 1>they get to ignore your agenda, and they get to

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<v Speaker 1>potentially impeach you. So's it would be a lot easier.

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<v Speaker 1>All right. The Epstein case again does not seem to

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<v Speaker 1>go away. It keeps coming back, and the White House

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<v Speaker 1>has not dealt with it particularly well. Uh, And over

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<v Speaker 1>the last couple of weeks they've tried to be doing

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<v Speaker 1>damage control and trying to figure out what the best

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<v Speaker 1>strategy is on how to deal with this. Obviously, Donald

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<v Speaker 1>Trump name appear in the Epstein file, I mean, that's

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<v Speaker 1>pretty clear. Trump has launched a campaign to say that

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<v Speaker 1>it was put there by Obama and Biden, that it's

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<v Speaker 1>all them. Of course, if that was it, then Wyden,

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<v Speaker 1>Obama and Biden use that in the elections. It would

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<v Speaker 1>never came up in the elections. So it's a little

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<v Speaker 1>suspect my guess is his name is there, but so

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<v Speaker 1>are the names of a bunch of a bunch of

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<v Speaker 1>Democrats as well, And that's why Democrats didn't use it,

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<v Speaker 1>because they didn't want to self incriminate some of the

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<v Speaker 1>people within their own party. So the Republican base is

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<v Speaker 1>the demanding that information be released about about the Epstein case,

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<v Speaker 1>that the files be released, whatever the hell is in

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<v Speaker 1>those files. They've been demanding, you know, they've been demanding action.

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<v Speaker 1>They want action. They think there's one big conspiracy cover up,

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<v Speaker 1>which it looks like it is to some extent, right

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<v Speaker 1>it is a cover up anyway.

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<v Speaker 2>To counter this, the Senate now is subpoening.

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<v Speaker 1>So the Senate is not going to have hearings on

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<v Speaker 1>the Epstein case, and as part of that, they are

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<v Speaker 1>going to stay subpoenaed delivery of all Epstein related documents

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<v Speaker 1>no later than August nineteenth to the Senate committee that

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<v Speaker 1>is looking into this. Right, I don't, I mean, I'm

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<v Speaker 1>assuming Trump is okay with us. It's hard to really

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<v Speaker 1>know whether this is some Republicans who are feeling pressure

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<v Speaker 1>from the MAGA base doing this in spite of the administration.

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<v Speaker 2>They are.

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<v Speaker 1>They're subpoenaing all the related documents. They also seeking communications

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<v Speaker 1>about Epstein f between President Biden and his administration, anything

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<v Speaker 1>that went back and forth. Then they're also requesting testimony

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<v Speaker 1>from eight former senior law enforcement officials, including FBI Director

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<v Speaker 1>James call Me, Attorney General William Barr, Mary Garland, and

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<v Speaker 1>Jeff Sessions. Those you know, Bar and Sessions were attorney

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<v Speaker 1>generals unto Trump in his first term. They also want

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<v Speaker 1>a question and they're subpoenaed Bill Clinton as well as

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<v Speaker 1>Hillary Clinton, which would be interesting. I mean, as we know,

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<v Speaker 1>Bill Clinton socialized with Epstein, and he claims he kind

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<v Speaker 1>off all relations in two thousand and nine and didn't

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<v Speaker 1>know of any crimes. So we'll see who shows up,

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<v Speaker 1>what happens when they show up, what they actually testify to,

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<v Speaker 1>what they actually say, what questions are asked. It's going

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<v Speaker 1>to be a zoo, an unbelievable zoo. In addition, as

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<v Speaker 1>we know, the number two at the Justice Department last

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<v Speaker 1>week held interviews which Gilaine Gilaine I was told to

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<v Speaker 1>ask a silent Gilaine Maxwell held interviews with Maxwell, and

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<v Speaker 1>I think he has what is it eight hours of

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<v Speaker 1>recordings or something like that, or many hours of recordings.

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<v Speaker 1>I don't not sure how much, but significant times of

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<v Speaker 1>recordings a committee. The committee is going to roughly nine

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<v Speaker 1>hours over two days. Okay, Now she's received conditional immunity

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<v Speaker 1>to discuss the case, and she's start asking for pardon

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<v Speaker 1>of course, and she's already been moved as we know,

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<v Speaker 1>as I mentioned a previous show to a low security

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<v Speaker 1>prison in Tallahousee, Florida. No, she's been moved from a

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<v Speaker 1>low security to a minimum security, which is even lower

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<v Speaker 1>security than the low security in a minimum security prison

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<v Speaker 1>in Brian, Texas, even though typically sex offenders are required

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<v Speaker 1>to be housed at least in at least a low

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<v Speaker 1>security facility, so this is an exemption, right. Anyway, they

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<v Speaker 1>plan to play some of the audio. Now what's interesting

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<v Speaker 1>is if they don't play all the audio, people will complain.

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<v Speaker 1>So ultimately, if they start playing audio, they're probably gonna

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<v Speaker 1>have to play at all.

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<v Speaker 2>Otherwise mago flip.

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<v Speaker 1>Out, conspiracy, cover up all of that stuff. So anyway,

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<v Speaker 1>that's where we are again. It's gonna be an unbelievable zoo.

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<v Speaker 1>You know. I'm looking forward to seeing all these people

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<v Speaker 1>squirming in the sea. It'll be particularly interesting to see

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<v Speaker 1>the different justice Departments people and Hillary, Bill Clinton. I mean,

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<v Speaker 1>who else are they going to subpoena Everybody we know

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<v Speaker 1>had some kind of relationship with Maxwell. I mean, that's

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<v Speaker 1>a long list of people. So we'll see, we'll see

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<v Speaker 1>a lot of high profile people named in the air

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<v Speaker 1>plane logs of and a lot of people associated with

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<v Speaker 1>them in different contacts in different places. It'll be I mean,

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<v Speaker 1>particularly interested to see William Barr, who was a huge

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<v Speaker 1>favorite of Trump's until he refused to throw the election

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<v Speaker 1>in twenty twenty and support Trump's allegations about the election

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<v Speaker 1>being stolen, and they was kicked out. Jeff Sessions, who

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<v Speaker 1>was probably the first Republican senator to support Trump and

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<v Speaker 1>was kicked out by Trump very early on a justice

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<v Speaker 1>as head of the Justice Department, as Attorney General because

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<v Speaker 1>of disagreements between them, and then of course they have

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<v Speaker 1>to be eye directors and all of that. It's going

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<v Speaker 1>to be interesting. It's going to be interesting. And maybe

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<v Speaker 1>this is all coordinated to basically say there there there's

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<v Speaker 1>no case, and to try to prove the maga. There

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<v Speaker 1>really isn't anything there. There's nothing there. There's nothing about Trump,

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<v Speaker 1>there's nothing about anybody else. There really isn't. There wasn't

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<v Speaker 1>a pedophile reighing that he wasn't. There's no list, there's

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<v Speaker 1>no relations to the intelligence services all of that, but

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<v Speaker 1>who knows. Look, I mean, Tulsi Gubbat just came out

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<v Speaker 1>with a completely fabricated intelligence report about the all the

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<v Speaker 1>Russia stuff, supposedly in twenty sixteen, supposedly Lincoln Obama to it.

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<v Speaker 1>And I'm blaming Obama for everything when you read, when

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<v Speaker 1>you read the actual details of it, it's just bizarre.

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<v Speaker 1>But she's a nutcase, So this is a surprising, and

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<v Speaker 1>she owes Trump everything. She was going nowhere, and he

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<v Speaker 1>picked her up and brought her into the administration, and

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<v Speaker 1>she just made up this file to feed because Trump

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<v Speaker 1>demanded it, and to distract people from Epstein and other things,

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<v Speaker 1>and to feed mega stuff. As long as the conspiracy

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<v Speaker 1>intels Democrats, Trump's happy to, you know, put poor fuel

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<v Speaker 1>in the fire of Democrats centered conspiracies. So yeah, it's

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<v Speaker 1>it's it's it's a crazy world we live in. It's

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<v Speaker 1>a crazy world we live in. Okay, let's look at

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00:29:22.000 --> 00:29:28.920
<v Speaker 1>other crazy stuff to talk about conspiracies. So Trump now

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<v Speaker 1>is putting out an executive order, whoops, where's my executive

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<v Speaker 1>order that he is expected to sign soon. He just

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<v Speaker 1>announced it maybe this week. He announced it a few

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<v Speaker 1>days ago or today. I think he announced it today

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<v Speaker 1>and he's expected to sign it later this week. Anyway,

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<v Speaker 1>this will be an executive order that is that is

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<v Speaker 1>geared to putting pressure against big banks over perceived discrimination

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<v Speaker 1>against conservatives and crypto companies, and the executive it will

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<v Speaker 1>threaten the fine lenders, the drop customers for political reasons. Now,

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<v Speaker 1>the discrimination against crypto was real, there's no question that

415
00:30:15.079 --> 00:30:19.440
<v Speaker 1>that happened. It happened under the Biden administration. It happened

416
00:30:19.759 --> 00:30:24.000
<v Speaker 1>under the influence of Elizabeth Warren. It happened over a

417
00:30:24.000 --> 00:30:28.319
<v Speaker 1>period of a few months. I mean, it wasn't hidden,

418
00:30:28.839 --> 00:30:32.279
<v Speaker 1>it was it was pretty explicit. It was out there.

419
00:30:33.599 --> 00:30:37.839
<v Speaker 1>And you know, a silver Gate Bank was basically shut

420
00:30:37.880 --> 00:30:41.240
<v Speaker 1>down because its whole business model was the bank crypto

421
00:30:41.440 --> 00:30:44.279
<v Speaker 1>and it was told by the regulators that that was unacceptable,

422
00:30:44.640 --> 00:30:50.400
<v Speaker 1>and it basically shut itself down. In New York, bank

423
00:30:51.759 --> 00:30:54.480
<v Speaker 1>whose name escapes for me right now, but it'll come

424
00:30:54.519 --> 00:30:57.440
<v Speaker 1>back to me hopefully soon, was basically closed by the

425
00:30:57.519 --> 00:31:01.160
<v Speaker 1>regulators at the same time. A couple of days after

426
00:31:02.680 --> 00:31:04.920
<v Speaker 1>Silicon Valley Bank was shut down in twenty twenty three,

427
00:31:05.440 --> 00:31:08.480
<v Speaker 1>and this is Silicon Bank was shut down on a Friday.

428
00:31:08.720 --> 00:31:12.039
<v Speaker 1>It was shut down on a Sunday. It is a

429
00:31:12.079 --> 00:31:14.759
<v Speaker 1>bank that I know because I know the bank well,

430
00:31:14.960 --> 00:31:17.880
<v Speaker 1>Signature bank, Signature Bank. It is a bank that I

431
00:31:17.920 --> 00:31:19.559
<v Speaker 1>know did not deserve to be shut down. It is

432
00:31:19.599 --> 00:31:23.640
<v Speaker 1>a bank that was not any more insolvent than many

433
00:31:23.680 --> 00:31:26.079
<v Speaker 1>other banks in the United States, or banks were basically

434
00:31:26.119 --> 00:31:29.079
<v Speaker 1>insolvent at that point in time because of bonds, the

435
00:31:29.119 --> 00:31:31.400
<v Speaker 1>bond portfolio. I did a show on that at the time.

436
00:31:32.880 --> 00:31:35.880
<v Speaker 1>It was not insolvent, any more insolvent than the other banks.

437
00:31:36.599 --> 00:31:40.559
<v Speaker 1>It could have probably manage a liquidity crisis that the

438
00:31:40.559 --> 00:31:44.079
<v Speaker 1>banks were facing. It was shut down pri Meldy because

439
00:31:44.200 --> 00:31:48.440
<v Speaker 1>it was a bank that dealt with crypto. Many other

440
00:31:48.480 --> 00:31:52.559
<v Speaker 1>banks were just told to divest and they did so.

441
00:31:53.000 --> 00:31:56.799
<v Speaker 1>This was an explicit policy of the banking regulators, inspired

442
00:31:56.839 --> 00:32:00.200
<v Speaker 1>again by Elizabeth i and who campaign against crypto and

443
00:32:00.240 --> 00:32:05.319
<v Speaker 1>her campaign against banks more broadly. So you know, this

444
00:32:05.880 --> 00:32:10.319
<v Speaker 1>isn't surprising. It is a surprising, but this idea that

445
00:32:12.680 --> 00:32:17.200
<v Speaker 1>you know, banks don't banks discriminate against conservatives is dubious.

446
00:32:19.039 --> 00:32:21.720
<v Speaker 1>But the reality is the problem is not the banks.

447
00:32:23.000 --> 00:32:26.920
<v Speaker 1>The problem with Crypto was the regulators who forced them

448
00:32:27.000 --> 00:32:31.599
<v Speaker 1>to divest Crypto forced them to discriminate against Crypto. And

449
00:32:31.640 --> 00:32:35.720
<v Speaker 1>the problem, you know, in as far as I know,

450
00:32:37.000 --> 00:32:46.000
<v Speaker 1>banks don't discriminate against conservatives. And the thing about that is,

451
00:32:46.920 --> 00:32:50.720
<v Speaker 1>even if they do, don't they have a right to

452
00:32:50.720 --> 00:32:55.119
<v Speaker 1>do so. Isn't a bank of private business that has

453
00:32:55.480 --> 00:32:57.720
<v Speaker 1>a right to discriminate in terms of who it gives

454
00:32:57.720 --> 00:33:00.279
<v Speaker 1>loans to and who it doesn't. Now they can't based

455
00:33:00.319 --> 00:33:03.319
<v Speaker 1>on race, for because of the Civil Rights Act. But

456
00:33:04.119 --> 00:33:08.759
<v Speaker 1>so it turns out that, you know, if you there's

457
00:33:08.799 --> 00:33:12.720
<v Speaker 1>some laws that you could stretch and imply that effect here.

458
00:33:12.720 --> 00:33:15.839
<v Speaker 1>For example, the Equal Credit Opportunities Act now to create

459
00:33:15.880 --> 00:33:18.799
<v Speaker 1>Equal Credit Opportunities Act again was written from the perspective

460
00:33:18.839 --> 00:33:22.920
<v Speaker 1>of racial discrimination. Whether it could be applied for political

461
00:33:23.720 --> 00:33:27.920
<v Speaker 1>political discrimination, I don't know. Now. I don't think any

462
00:33:28.079 --> 00:33:31.000
<v Speaker 1>bank is going to try to defend itself over the

463
00:33:31.160 --> 00:33:34.839
<v Speaker 1>right to politically discriminate. But shouldn't they have the right?

464
00:33:35.319 --> 00:33:40.119
<v Speaker 1>Isn't that what private property means? And why would the government?

465
00:33:40.880 --> 00:33:43.720
<v Speaker 1>What gives the right to government the right to go

466
00:33:43.759 --> 00:33:45.640
<v Speaker 1>into a bank and say the discriminating Why is it

467
00:33:45.680 --> 00:33:48.519
<v Speaker 1>any of the government's business who a bank gives loans

468
00:33:48.519 --> 00:33:51.160
<v Speaker 1>to and who it doesn't give loans to. Shouldn't that

469
00:33:51.200 --> 00:33:54.519
<v Speaker 1>be completely one hundred percent at the discretion of the bank.

470
00:33:56.599 --> 00:34:02.599
<v Speaker 1>Now again, I'm all for not allowing politicians to dictate

471
00:34:02.680 --> 00:34:07.000
<v Speaker 1>to banks which businesses they can and cannot lend to,

472
00:34:07.079 --> 00:34:12.039
<v Speaker 1>for example, crypto, but that's not limited to crypto. It's

473
00:34:12.119 --> 00:34:15.559
<v Speaker 1>being done for other industries as well. Democrats to do

474
00:34:15.599 --> 00:34:19.400
<v Speaker 1>it regularly. I can imagine Republicans one day doing it.

475
00:34:22.280 --> 00:34:27.360
<v Speaker 1>That should be banned, but that's on executive order. That

476
00:34:27.400 --> 00:34:34.599
<v Speaker 1>would require rethinking of the relationship between economics and politics. Anyway,

477
00:34:34.960 --> 00:34:36.880
<v Speaker 1>he wants to sue them under or go after them

478
00:34:36.920 --> 00:34:40.159
<v Speaker 1>under the Ego Credit Opportunities Act, Anti SLUXED laws, and

479
00:34:40.199 --> 00:34:43.840
<v Speaker 1>the Consumer Financial Protection Law. Of course, the Financial Consume

480
00:34:43.920 --> 00:34:51.400
<v Speaker 1>Financial Protection CFPB Agency Bureau Trump is trying to shut down.

481
00:34:52.079 --> 00:34:53.440
<v Speaker 1>On the one hand, he wants to use it in

482
00:34:53.559 --> 00:34:55.440
<v Speaker 1>order to protect conservatives, and another hand he wants to

483
00:34:55.480 --> 00:34:59.880
<v Speaker 1>shut it down inconsistencies. Why am I surprised? I'm not.

484
00:35:03.519 --> 00:35:07.559
<v Speaker 1>The draft executive order doesn't name any specific banks, but

485
00:35:07.639 --> 00:35:10.280
<v Speaker 1>it appears to have to an instance where Bank of

486
00:35:10.320 --> 00:35:13.400
<v Speaker 1>America was accused of shutting down the accounts of a

487
00:35:13.480 --> 00:35:18.360
<v Speaker 1>Christian organization operating in Uganda based on organization's religious beliefs.

488
00:35:20.559 --> 00:35:24.960
<v Speaker 1>On the other hand, the bank says it shut down

489
00:35:25.000 --> 00:35:29.320
<v Speaker 1>the account because it doesn't serve small businesses operating outside

490
00:35:29.360 --> 00:35:33.800
<v Speaker 1>the United States. Go try to figure that out. I

491
00:35:33.880 --> 00:35:38.559
<v Speaker 1>think the bottom line is that this is an executive order.

492
00:35:38.559 --> 00:35:41.639
<v Speaker 1>It will allow Trump to go after any bank that

493
00:35:41.800 --> 00:35:47.679
<v Speaker 1>rejects alone from any person that Trump thinks should get alone.

494
00:35:47.840 --> 00:35:51.199
<v Speaker 1>I mean, I think that's what's behind us. Trump wants

495
00:35:51.199 --> 00:35:53.599
<v Speaker 1>to be able to go in and tell banks who

496
00:35:53.599 --> 00:35:55.480
<v Speaker 1>did lend money to and who not to lend money to.

497
00:35:57.239 --> 00:35:59.159
<v Speaker 1>Why doesn't he have that power? He should have that power.

498
00:35:59.159 --> 00:36:07.519
<v Speaker 1>He's king after the draft of the order that the

499
00:36:07.599 --> 00:36:09.760
<v Speaker 1>Roste Journal has seen, so this is an Osti Journal

500
00:36:09.840 --> 00:36:14.199
<v Speaker 1>article also criticizes the role that some banks played in

501
00:36:14.280 --> 00:36:17.760
<v Speaker 1>an investigation into the January six riots. There was a

502
00:36:17.760 --> 00:36:21.679
<v Speaker 1>criminal investigation. They're probably subpoena Why would they not play

503
00:36:21.719 --> 00:36:29.400
<v Speaker 1>a role. Trump himself, when he was asked about this,

504
00:36:30.199 --> 00:36:35.119
<v Speaker 1>recounted his own experience being dropped as a bank customer

505
00:36:35.920 --> 00:36:42.320
<v Speaker 1>by several banks, including JP Morgan Chase. He said the

506
00:36:42.360 --> 00:36:46.280
<v Speaker 1>banks discriminated against me very badly, and I was very

507
00:36:46.320 --> 00:36:49.559
<v Speaker 1>good to the banks. Well turned out he wasn't very

508
00:36:49.599 --> 00:36:51.239
<v Speaker 1>good to the banks. It turned out that he fought

509
00:36:51.239 --> 00:36:54.119
<v Speaker 1>for bankruptcy several times, which is not good for banks.

510
00:36:56.199 --> 00:36:59.679
<v Speaker 1>It also turned out that in his application for mortgages

511
00:37:00.800 --> 00:37:05.679
<v Speaker 1>on several occasions for several real estate projects, he overstated

512
00:37:05.719 --> 00:37:09.000
<v Speaker 1>the value of the property. So no, Trump was trying

513
00:37:09.039 --> 00:37:11.880
<v Speaker 1>to screw banks whenever he could. I mean, that's his

514
00:37:12.000 --> 00:37:14.239
<v Speaker 1>motors of perandi, that's what he means by art of

515
00:37:14.280 --> 00:37:18.920
<v Speaker 1>the deal. So Trump's never good for banks. Banks had

516
00:37:19.079 --> 00:37:23.679
<v Speaker 1>plenty of reasons for dropping him. Indeed, when Trump ran

517
00:37:23.760 --> 00:37:26.679
<v Speaker 1>for president of twenty sixteen, during that period or the

518
00:37:26.679 --> 00:37:32.119
<v Speaker 1>period before that, his banking relationship had shifted to Deutsche

519
00:37:32.159 --> 00:37:36.519
<v Speaker 1>Bank because American banks didn't want to have anything didn't

520
00:37:36.519 --> 00:37:39.880
<v Speaker 1>want to have anything to do with his organization, didn't

521
00:37:39.880 --> 00:37:42.239
<v Speaker 1>want to have anything to do with him. Not because

522
00:37:42.280 --> 00:37:47.880
<v Speaker 1>of his politics he was a Democrat, not because he's

523
00:37:47.880 --> 00:37:51.800
<v Speaker 1>a conservative, he never was and isn't. It's because he

524
00:37:51.920 --> 00:37:55.679
<v Speaker 1>was not a very good bank customer. Nobody wanted to

525
00:37:55.679 --> 00:38:06.760
<v Speaker 1>have to deal with his shenanigans. That's why. So this

526
00:38:06.880 --> 00:38:09.639
<v Speaker 1>is just another power grab by Trump, which is just

527
00:38:09.719 --> 00:38:12.239
<v Speaker 1>another way for him to flex muscles against the group

528
00:38:12.280 --> 00:38:15.800
<v Speaker 1>of institutions that he does not like. This is just

529
00:38:15.840 --> 00:38:20.079
<v Speaker 1>another little step towards economic fascism, where the government controls everything.

530
00:38:20.119 --> 00:38:22.920
<v Speaker 1>I mean they already controlled the banks to huge degree,

531
00:38:22.960 --> 00:38:27.039
<v Speaker 1>but now it's completely politicized a or or or or

532
00:38:27.199 --> 00:38:30.440
<v Speaker 1>politicized even further. It's already politicized with the crypto and

533
00:38:30.599 --> 00:38:34.000
<v Speaker 1>Elizabeth walk now it's much more, even more politicized, cause

534
00:38:34.039 --> 00:38:37.039
<v Speaker 1>now it's about whether it's his friends, and any one

535
00:38:37.079 --> 00:38:38.679
<v Speaker 1>of his friends who doesn't get a loan will be

536
00:38:38.679 --> 00:38:41.480
<v Speaker 1>a I the bank will be accused of discriminating a

537
00:38:41.519 --> 00:38:52.000
<v Speaker 1>c against conservatives. I. You know, it's absurd. Again, the

538
00:38:52.079 --> 00:38:55.280
<v Speaker 1>crypto discrimination, if you wanna call it, that was based

539
00:38:55.360 --> 00:38:58.400
<v Speaker 1>on what the regulators told the banks they were allowed

540
00:38:58.480 --> 00:39:01.719
<v Speaker 1>or not allowed to do. It wasn't a case of discrimination.

541
00:39:02.159 --> 00:39:04.599
<v Speaker 1>It was a case where the banks were just following regulations.

542
00:39:06.599 --> 00:39:11.119
<v Speaker 1>So this is just you know, more insanity on behalf

543
00:39:11.199 --> 00:39:17.079
<v Speaker 1>of the Trump administration, more attempt to grab control, to regulate,

544
00:39:17.239 --> 00:39:21.840
<v Speaker 1>you know, to step in and and and uh control

545
00:39:21.880 --> 00:39:24.440
<v Speaker 1>business and in this case banking, which is already so

546
00:39:24.440 --> 00:39:35.360
<v Speaker 1>so heavily regulated anyway. You know, one of the things

547
00:39:35.360 --> 00:39:41.960
<v Speaker 1>that Trump has got the bank regulators, his bank regulators

548
00:39:41.960 --> 00:39:46.079
<v Speaker 1>to do is is to tell the banks they have

549
00:39:46.159 --> 00:39:57.199
<v Speaker 1>to stop assessing reputational risk posed by their customers. So

550
00:39:57.320 --> 00:40:01.079
<v Speaker 1>certain customers and certain industries might pose a reputational as

551
00:40:01.119 --> 00:40:04.559
<v Speaker 1>to the bank, then under Trump, they will not be

552
00:40:04.639 --> 00:40:08.480
<v Speaker 1>allowed to take that into consideration. And again that's a

553
00:40:08.480 --> 00:40:12.360
<v Speaker 1>way to clear his friends and to kill himself, and

554
00:40:12.440 --> 00:40:15.159
<v Speaker 1>to make sure that they get the kind of banking

555
00:40:15.239 --> 00:40:17.880
<v Speaker 1>that he wants them to get, not based on the

556
00:40:17.920 --> 00:40:21.679
<v Speaker 1>rule of law, not based on private property in the

557
00:40:21.679 --> 00:40:23.760
<v Speaker 1>bank's rights to decide who to lend you or not,

558
00:40:24.840 --> 00:40:29.000
<v Speaker 1>but based almost exclusively on the whim of the president

559
00:40:29.039 --> 00:40:31.440
<v Speaker 1>of the United States. And remember, you might like Donald Trump,

560
00:40:31.760 --> 00:40:35.000
<v Speaker 1>and you might think he's the greatest thing ever, but

561
00:40:35.159 --> 00:40:37.159
<v Speaker 1>he's not always going to be president. There will be

562
00:40:37.199 --> 00:40:39.760
<v Speaker 1>other presidents, and all these powers that are granted to

563
00:40:39.840 --> 00:40:43.639
<v Speaker 1>the executives will one day be in the hands of

564
00:40:43.719 --> 00:40:50.400
<v Speaker 1>somebody you don't like as much. That you know. That's

565
00:40:50.440 --> 00:40:52.960
<v Speaker 1>that would require thinking long term, and nobody wants to

566
00:40:53.000 --> 00:40:59.639
<v Speaker 1>do that. That's that's that's real effort, all right.

567
00:40:59.800 --> 00:41:08.079
<v Speaker 4>I'm I mean, the the tariff nonsense continues, and the

568
00:41:08.159 --> 00:41:11.719
<v Speaker 4>tariff panic in many countries continues, and I know that

569
00:41:11.880 --> 00:41:15.360
<v Speaker 4>some people view this panic as a win for Trump.

570
00:41:15.519 --> 00:41:20.639
<v Speaker 1>Right. So for example, Switzerland is panicking, right, you know,

571
00:41:20.719 --> 00:41:27.119
<v Speaker 1>thirty tariffs on things like watches, on chocolate, on other

572
00:41:27.119 --> 00:41:30.480
<v Speaker 1>things we import from Switzerland other than those that have

573
00:41:30.519 --> 00:41:33.599
<v Speaker 1>an exclusion on tariffs, which is pharmaceuticals. And even there

574
00:41:33.760 --> 00:41:35.960
<v Speaker 1>we'll get to in a minute. The story is that

575
00:41:36.000 --> 00:41:40.159
<v Speaker 1>Trump is going to increase tariffs to two on whereas

576
00:41:40.159 --> 00:41:45.639
<v Speaker 1>it no I see here, yeah, on farmer and then

577
00:41:45.880 --> 00:41:48.719
<v Speaker 1>huge tabs on chips. We'll talk about that in a minute.

578
00:41:49.159 --> 00:41:52.000
<v Speaker 1>But in the meantime, Switzerland, so the switch president is panicking.

579
00:41:52.039 --> 00:41:54.679
<v Speaker 1>He's rushing to Washington, try to meet with Trump, try

580
00:41:54.719 --> 00:41:55.559
<v Speaker 1>to appease Trump.

581
00:41:55.960 --> 00:41:59.239
<v Speaker 2>And of course Trump loves that. He loves the peacement.

582
00:41:59.320 --> 00:42:02.280
<v Speaker 1>He said earlier that I don't know, six hundred million

583
00:42:02.320 --> 00:42:04.920
<v Speaker 1>dollars that one of these countries promised to invest in

584
00:42:04.920 --> 00:42:09.360
<v Speaker 1>the United States, he would decide where it's invested. Only him,

585
00:42:09.760 --> 00:42:12.719
<v Speaker 1>Donald Trump would decide where that money was going to

586
00:42:12.719 --> 00:42:17.000
<v Speaker 1>be invested. They'd given him like a private pool of

587
00:42:17.039 --> 00:42:23.960
<v Speaker 1>money to invest in the United States. And this president is,

588
00:42:24.320 --> 00:42:28.360
<v Speaker 1>you know, with the golden share in US steel and

589
00:42:28.639 --> 00:42:31.559
<v Speaker 1>the United States purchasing of the rare earth material the

590
00:42:31.599 --> 00:42:37.000
<v Speaker 1>government investing directly in shares, buying shares in a rare.

591
00:42:36.840 --> 00:42:39.519
<v Speaker 2>Earth material company. I mean, this.

592
00:42:42.039 --> 00:42:45.440
<v Speaker 1>Could very well be in many fronts in certain areas.

593
00:42:45.920 --> 00:42:53.559
<v Speaker 1>The most interventionist governed ever, with all these tariffs and

594
00:42:53.880 --> 00:42:57.440
<v Speaker 1>with giving favors to some countries and not to others.

595
00:42:57.480 --> 00:43:01.039
<v Speaker 1>And the Swiss president is going to come groveling and

596
00:43:01.039 --> 00:43:04.480
<v Speaker 1>and trumpell demand that Switzerland invest in Trump properties. I

597
00:43:04.480 --> 00:43:06.920
<v Speaker 1>don't know what he'll demand the Switzerland invest in the

598
00:43:07.000 --> 00:43:10.199
<v Speaker 1>United States, and and he'll lower the tariff for him

599
00:43:10.239 --> 00:43:21.760
<v Speaker 1>and he'll get some favor. And it's just nuts. So

600
00:43:23.000 --> 00:43:24.679
<v Speaker 1>a lot of panic and a lot of countries around

601
00:43:24.679 --> 00:43:27.599
<v Speaker 1>the world. Now, a lot of people, people who view

602
00:43:27.599 --> 00:43:29.840
<v Speaker 1>the world as a zoo some game, view this as

603
00:43:29.840 --> 00:43:32.920
<v Speaker 1>a win win for America because if it's win lose

604
00:43:33.079 --> 00:43:36.639
<v Speaker 1>and they are panicking, which means they are losing, then

605
00:43:36.679 --> 00:43:41.599
<v Speaker 1>we must be winning. Yay. If you understand the world

606
00:43:41.599 --> 00:43:49.480
<v Speaker 1>to be potentially at least win win, and that win

607
00:43:49.599 --> 00:43:54.000
<v Speaker 1>lose relationships usually turn into lose lose, and you understand

608
00:43:54.000 --> 00:43:59.000
<v Speaker 1>the tariffs are lost to American consumers and to switch manufacturers,

609
00:44:00.480 --> 00:44:03.599
<v Speaker 1>then you realize the tariffs, these taffs on Switzerland a

610
00:44:03.719 --> 00:44:08.239
<v Speaker 1>lose lose. The only differences that our government is too

611
00:44:08.320 --> 00:44:13.880
<v Speaker 1>economically illiterate, too economically ignorant to understand that what they're

612
00:44:13.880 --> 00:44:18.199
<v Speaker 1>doing is losing. The Swiss get that it's bad for them.

613
00:44:19.880 --> 00:44:23.039
<v Speaker 1>Their making government does not understand it's bad for them too,

614
00:44:24.760 --> 00:44:29.880
<v Speaker 1>And as a consequence, you know they are they are

615
00:44:29.920 --> 00:44:31.920
<v Speaker 1>pretending that this is a win for the US and

616
00:44:31.960 --> 00:44:34.679
<v Speaker 1>a loss for Switzerland when it's really a loss for

617
00:44:34.760 --> 00:44:40.800
<v Speaker 1>both countries. So lose lose is what you're getting. India,

618
00:44:42.760 --> 00:44:46.920
<v Speaker 1>you know, is right now in defying the United States

619
00:44:47.639 --> 00:44:52.920
<v Speaker 1>digging its heels in. Remember India got twenty five percent

620
00:44:52.960 --> 00:44:54.920
<v Speaker 1>tariffs even though I thought it had a deal for

621
00:44:54.960 --> 00:44:57.400
<v Speaker 1>a lot less than that. You remember JD Vance was

622
00:44:57.400 --> 00:44:59.480
<v Speaker 1>there a couple of months ago, and they thought they

623
00:44:59.480 --> 00:45:04.239
<v Speaker 1>had a much better deal. But then President said he

624
00:45:04.280 --> 00:45:07.599
<v Speaker 1>would substantially Racehoubse on Indian goods beyond the twenty five

625
00:45:07.639 --> 00:45:11.920
<v Speaker 1>percent because of the amount of oil that India is

626
00:45:11.920 --> 00:45:17.880
<v Speaker 1>buying from Russia. And India is basically saying they are

627
00:45:17.920 --> 00:45:21.840
<v Speaker 1>not going to let the United States dictate who they

628
00:45:21.840 --> 00:45:24.960
<v Speaker 1>buy all from, which is completely reasonable for India. They

629
00:45:24.960 --> 00:45:27.079
<v Speaker 1>shouldn't be buying Russian oil, but not because the United

630
00:45:27.119 --> 00:45:33.039
<v Speaker 1>States doesn't like it. And it'll be interesting. I mean,

631
00:45:33.480 --> 00:45:37.159
<v Speaker 1>this is the thing, and I've said this over and

632
00:45:37.199 --> 00:45:39.960
<v Speaker 1>over again. I said it not for months. If the

633
00:45:40.039 --> 00:45:44.599
<v Speaker 1>United States is serious about China being a threat, China

634
00:45:44.679 --> 00:45:47.639
<v Speaker 1>is a threat to the United States, then the one

635
00:45:47.639 --> 00:45:51.679
<v Speaker 1>thing the United States needs to be doing is building

636
00:45:51.719 --> 00:45:56.880
<v Speaker 1>an alliance with the countries in Asia that are the

637
00:45:57.000 --> 00:46:01.480
<v Speaker 1>border China, that share the seas and the ocean with China,

638
00:46:02.800 --> 00:46:08.039
<v Speaker 1>that have size and capacity to stand up to China. Clearly,

639
00:46:08.119 --> 00:46:11.400
<v Speaker 1>India is one of these countries. It's got a population,

640
00:46:11.480 --> 00:46:15.239
<v Speaker 1>it's larger than that of China. It shares a border

641
00:46:15.239 --> 00:46:20.000
<v Speaker 1>with China, which actually is contentious where they periodically have scomishes.

642
00:46:21.559 --> 00:46:25.719
<v Speaker 1>It is building a significant military, it's building a navy.

643
00:46:25.840 --> 00:46:29.599
<v Speaker 1>It wants to have a say in protecting the shipping

644
00:46:29.679 --> 00:46:33.719
<v Speaker 1>lanes in that region, in the region of Southeast Asia

645
00:46:34.199 --> 00:46:42.320
<v Speaker 1>and Southern Asia. It is a you know, nominally a democracy.

646
00:46:42.400 --> 00:46:47.039
<v Speaker 1>It claims to share many of our Western values. It

647
00:46:47.119 --> 00:46:51.320
<v Speaker 1>should be an ally southerly, an ally vis a vi China.

648
00:46:51.599 --> 00:46:57.119
<v Speaker 1>It's hostile to China already, and yet you know, it's

649
00:46:57.159 --> 00:47:02.559
<v Speaker 1>also discovered that the Russian weapons system that's been buying

650
00:47:02.639 --> 00:47:08.840
<v Speaker 1>for decades probably not very good. But it also is

651
00:47:08.880 --> 00:47:12.840
<v Speaker 1>frustrated by the fact that the United States supports Pakistan

652
00:47:13.800 --> 00:47:17.239
<v Speaker 1>and the Trump seems so friendly with the regime in

653
00:47:17.280 --> 00:47:20.840
<v Speaker 1>Pakistan when the region in Pakistan is not friendly to

654
00:47:20.880 --> 00:47:24.360
<v Speaker 1>the United States and is supportive of Islamis causes which

655
00:47:24.360 --> 00:47:30.119
<v Speaker 1>are clearly hostile to the United States. So the US

656
00:47:30.199 --> 00:47:34.800
<v Speaker 1>is doing a lot to alienate India's government in the

657
00:47:34.880 --> 00:47:38.599
<v Speaker 1>name of Taos and again lose lose. India's gonna lose

658
00:47:38.639 --> 00:47:41.679
<v Speaker 1>because it wants they export to the United States. But

659
00:47:41.719 --> 00:47:43.599
<v Speaker 1>the US has the potential to lose here in a

660
00:47:43.639 --> 00:47:49.039
<v Speaker 1>jew political sense, lose a significant ally in its confrontation,

661
00:47:49.159 --> 00:47:53.719
<v Speaker 1>if you will, with China, and that could be now. Look,

662
00:47:54.480 --> 00:47:58.039
<v Speaker 1>Trump can't think strategically. His mind does not work that way.

663
00:47:58.119 --> 00:48:01.639
<v Speaker 1>He has a mind of a of a pragmatic thug,

664
00:48:01.880 --> 00:48:06.760
<v Speaker 1>and pragmatism does not allow for strategy. His four dy

665
00:48:06.880 --> 00:48:13.320
<v Speaker 1>chess is almost always one dimensional and short term and unprincipled.

666
00:48:14.360 --> 00:48:17.079
<v Speaker 1>And that's what's going on here. As I've told you

667
00:48:17.079 --> 00:48:20.719
<v Speaker 1>from the beginning, the one thing Trump hates are trade deficits.

668
00:48:21.280 --> 00:48:26.519
<v Speaker 1>The one thing Trump thinks a good a tariffs. He

669
00:48:26.599 --> 00:48:30.079
<v Speaker 1>loves tariffs. He enjoys taffs. And by the way, he

670
00:48:30.199 --> 00:48:33.519
<v Speaker 1>enjoys the president of Switzerland having to come and grovel

671
00:48:33.559 --> 00:48:40.440
<v Speaker 1>before him. So he can't think strategically in terms of

672
00:48:41.239 --> 00:48:43.760
<v Speaker 1>what does this do to alliance visa China, how do

673
00:48:43.880 --> 00:48:46.079
<v Speaker 1>we play this long term? How do we secure American

674
00:48:46.159 --> 00:48:49.679
<v Speaker 1>interest in the region. That is way beyond his capacity.

675
00:48:50.360 --> 00:48:53.239
<v Speaker 1>It really is. I'm not making that up. I'm not

676
00:48:53.320 --> 00:48:56.000
<v Speaker 1>just slamming him. He just doesn't think that way. The

677
00:48:56.039 --> 00:49:03.079
<v Speaker 1>only he's a great marketing professional, he's really good at that.

678
00:49:03.400 --> 00:49:11.079
<v Speaker 1>He's good at understanding people people in America. He has

679
00:49:11.199 --> 00:49:14.840
<v Speaker 1>no understanding of economics zero literally zoo and he has

680
00:49:14.840 --> 00:49:19.320
<v Speaker 1>no understanding of geopolitics. And as a consequence, he has

681
00:49:19.519 --> 00:49:26.519
<v Speaker 1>alienated South Koreans with tariffs, alienated the Japanese. He is

682
00:49:26.599 --> 00:49:36.239
<v Speaker 1>now talking about massive tariffs on chips microprocesses. They're coming

683
00:49:36.280 --> 00:49:39.800
<v Speaker 1>from Taiwan, another one of our key allies in the region,

684
00:49:39.920 --> 00:49:45.039
<v Speaker 1>right on TSMC that makes basically all our semiconductors, all

685
00:49:45.079 --> 00:49:49.039
<v Speaker 1>the advanced semiconductors. He wants a tariff that. So the

686
00:49:49.079 --> 00:49:52.880
<v Speaker 1>one huge advantage the United States has over the rest

687
00:49:52.920 --> 00:49:58.360
<v Speaker 1>of the world, including China, is tech. Let's cripple a

688
00:49:58.440 --> 00:50:05.199
<v Speaker 1>tech industry imposing massive tabbs on chips. Now, somebody in

689
00:50:05.199 --> 00:50:07.760
<v Speaker 1>the chat said, oh, no, tariffs are just a negotiating tactic.

690
00:50:08.800 --> 00:50:12.079
<v Speaker 1>That is complete and utter nonsense. It's never been true.

691
00:50:12.760 --> 00:50:16.800
<v Speaker 1>Trump has proved over the last year that it isn't true.

692
00:50:17.519 --> 00:50:19.960
<v Speaker 1>He's proved, sorry, over the last three months, that it

693
00:50:20.039 --> 00:50:26.840
<v Speaker 1>isn't true. What is he negotiating? What is negotiating? Israel

694
00:50:27.000 --> 00:50:32.000
<v Speaker 1>gave Trump zero tariffs on all American goods coming into Israel.

695
00:50:32.280 --> 00:50:36.760
<v Speaker 1>We still put fifteen percent taffs on Israel. There's no

696
00:50:37.039 --> 00:50:42.000
<v Speaker 1>there's no negotiating value here. There's no negotiating anything here.

697
00:50:42.119 --> 00:50:45.440
<v Speaker 1>As long as there's a trade deficit, tariffs are good.

698
00:50:45.679 --> 00:50:48.800
<v Speaker 1>That is the principle by which Donald Trump functions, and

699
00:50:48.920 --> 00:50:53.000
<v Speaker 1>he believes they are a great tool to punish countries

700
00:50:53.400 --> 00:50:57.079
<v Speaker 1>for doing things he doesn't like, like Brazil with Bolsonaro

701
00:50:57.119 --> 00:51:00.679
<v Speaker 1>fifty percent tariff, and like he doesn't like the fact

702
00:51:00.679 --> 00:51:02.639
<v Speaker 1>that chips are being built in Taiwan. He wants the

703
00:51:02.719 --> 00:51:05.320
<v Speaker 1>chips to be built in the United States, so put

704
00:51:05.320 --> 00:51:09.880
<v Speaker 1>a huge taffs on them, which will really hood US

705
00:51:10.000 --> 00:51:11.039
<v Speaker 1>semiconduct industry.

706
00:51:11.119 --> 00:51:12.840
<v Speaker 2>It'll really hood a tech industry.

707
00:51:13.199 --> 00:51:18.320
<v Speaker 1>It really hurt us. And it's not like you can

708
00:51:18.360 --> 00:51:20.360
<v Speaker 1>mimic what the SMC has done in Taiwan. In the

709
00:51:20.440 --> 00:51:24.239
<v Speaker 1>United States. Maybe you can, but it will take years

710
00:51:24.239 --> 00:51:27.599
<v Speaker 1>and years and years to do and not the scale

711
00:51:27.679 --> 00:51:29.920
<v Speaker 1>that TSMC can do it. We just don't have the engineers,

712
00:51:29.960 --> 00:51:31.719
<v Speaker 1>we don't have the talent to be able to do

713
00:51:31.760 --> 00:51:49.480
<v Speaker 1>It's a fantasy anyway. Tabs continue to be destructive and

714
00:51:49.559 --> 00:51:52.480
<v Speaker 1>one of the consequences of this trade war that he's

715
00:51:52.480 --> 00:51:56.639
<v Speaker 1>gotten into with the world, including China, is that China

716
00:51:56.679 --> 00:52:04.199
<v Speaker 1>has significantly reduced the vase bailability of minerals, critical minerals,

717
00:52:04.199 --> 00:52:07.920
<v Speaker 1>refine minerals, refined rare earth materials from which magnets are made,

718
00:52:08.519 --> 00:52:13.920
<v Speaker 1>different infrared sensors, motors for drones, and things like that.

719
00:52:14.599 --> 00:52:18.840
<v Speaker 1>They've limited the export of those materials two companies that

720
00:52:18.880 --> 00:52:21.920
<v Speaker 1>they believe are using it for defense purposes, just like

721
00:52:22.000 --> 00:52:27.400
<v Speaker 1>we're limiting chips sending to China. And the challenge is

722
00:52:27.800 --> 00:52:32.320
<v Speaker 1>that there's a massive shortage among defense contractors in the

723
00:52:32.400 --> 00:52:39.719
<v Speaker 1>United States. Lucky Barton and others cannot find enough raw

724
00:52:39.760 --> 00:52:45.960
<v Speaker 1>material to build the weapons systems that the US military demands. Remember,

725
00:52:45.960 --> 00:52:49.800
<v Speaker 1>Beijing controls ninety percent of rare earths now because they

726
00:52:49.920 --> 00:52:53.280
<v Speaker 1>mind ninety percent of railroads, but because they refine ninety

727
00:52:53.280 --> 00:52:56.559
<v Speaker 1>percent of rare earth materials. Just there's no refining capacity

728
00:52:56.559 --> 00:53:01.840
<v Speaker 1>outside of China. It banned the sport of geranium, gallium,

729
00:53:02.199 --> 00:53:06.199
<v Speaker 1>and antimony that are used for bullets, missiles, and night vision.

730
00:53:07.400 --> 00:53:10.880
<v Speaker 1>And even though they supposedly in the last deal agreed

731
00:53:11.800 --> 00:53:14.920
<v Speaker 1>to Trump's demand that they start selling them again, they

732
00:53:14.960 --> 00:53:21.960
<v Speaker 1>haven't really, not in quantity. A US drone maker faces

733
00:53:22.039 --> 00:53:30.519
<v Speaker 1>a two month delay after China blocked a magnet shipment Chinese.

734
00:53:30.599 --> 00:53:33.920
<v Speaker 1>The Chinese supply of the magnets is demanding blueprints, the

735
00:53:33.960 --> 00:53:38.800
<v Speaker 1>buyer's name, and proof it's not for defense. The company refused,

736
00:53:38.960 --> 00:53:43.440
<v Speaker 1>so the order was stopped. Prices have gone up dramatically.

737
00:53:43.719 --> 00:53:46.960
<v Speaker 1>This is a way in which you don't know. You know,

738
00:53:47.239 --> 00:53:50.400
<v Speaker 1>the drone might say made in the US, but a

739
00:53:50.440 --> 00:53:53.280
<v Speaker 1>piece of it is not. You're paying that tariff on

740
00:53:53.320 --> 00:53:59.719
<v Speaker 1>that piece. One A film was offered samarium for twins

741
00:53:59.760 --> 00:54:08.559
<v Speaker 1>for sixty x the normal price sixty x. Now serenium

742
00:54:09.920 --> 00:54:13.880
<v Speaker 1>samarium is needed for jet engines like they have. Thirty

743
00:54:13.880 --> 00:54:19.960
<v Speaker 1>five other firms support paying five x for some of

744
00:54:20.000 --> 00:54:23.599
<v Speaker 1>the materials that they need. Well, then eighty thousand Pentagon

745
00:54:23.639 --> 00:54:27.719
<v Speaker 1>components use minerals now under Chinese control. Now, how we

746
00:54:27.800 --> 00:54:30.760
<v Speaker 1>got to this situation? How do we get here? Is

747
00:54:30.800 --> 00:54:35.239
<v Speaker 1>a great question and something that if we had a strategy,

748
00:54:35.280 --> 00:54:39.360
<v Speaker 1>we would look into and figure out a solution both.

749
00:54:41.039 --> 00:54:44.760
<v Speaker 1>How about declaring an emergency for rail earth material and

750
00:54:44.800 --> 00:54:49.000
<v Speaker 1>suspending all environmental regulations that prohibit mining it and building

751
00:54:49.079 --> 00:54:53.000
<v Speaker 1>refinery capabilities to refine it. Now, that would be the

752
00:54:53.199 --> 00:54:55.880
<v Speaker 1>use of emergency powers, or maybe get Congress to pass

753
00:54:55.920 --> 00:54:59.039
<v Speaker 1>a law that would be even better. And let's see

754
00:54:59.039 --> 00:55:01.760
<v Speaker 1>which Democrats voting against it. I mean, this is a

755
00:55:01.800 --> 00:55:05.519
<v Speaker 1>real national security issue. We are dependent on China for

756
00:55:05.639 --> 00:55:15.559
<v Speaker 1>eighty thousand components, and we should be I mean, the

757
00:55:15.559 --> 00:55:18.880
<v Speaker 1>Pentagon should be spending huge amounts of money on building

758
00:55:18.920 --> 00:55:21.480
<v Speaker 1>capabilities in the United States, and the President should be

759
00:55:21.519 --> 00:55:24.679
<v Speaker 1>supporting that with executive orders. That's the use of executive

760
00:55:24.760 --> 00:55:30.039
<v Speaker 1>orders that will be appropriate. Instead, we're going off to

761
00:55:30.079 --> 00:55:40.760
<v Speaker 1>banks for discriminating against conservatives. Not only are we seeing

762
00:55:40.760 --> 00:55:44.320
<v Speaker 1>a shortage, but there's a shortage in Australia, a shortage

763
00:55:44.440 --> 00:55:50.559
<v Speaker 1>in other Western countries that have any kind of defense industries,

764
00:55:52.320 --> 00:55:56.639
<v Speaker 1>there's a lack of stockpile, there's no leverage on the Chinese.

765
00:55:57.159 --> 00:56:02.639
<v Speaker 1>And you know, now the Panda God supposed is finding

766
00:56:02.800 --> 00:56:06.920
<v Speaker 1>funding miners, offering them grants, and of course made a

767
00:56:06.920 --> 00:56:10.280
<v Speaker 1>big investment in that one mining company. But what he

768
00:56:10.320 --> 00:56:13.039
<v Speaker 1>needs is refining, and what he needs is suspension of

769
00:56:13.119 --> 00:56:19.519
<v Speaker 1>environmental regulations, and that it has not got yet. So

770
00:56:20.800 --> 00:56:25.920
<v Speaker 1>part of one of the victims of the terraf is

771
00:56:26.000 --> 00:56:33.480
<v Speaker 1>American national security. Not surprising at all at all. All right,

772
00:56:35.239 --> 00:56:37.960
<v Speaker 1>let's see, so we did that, we did that, we

773
00:56:37.960 --> 00:56:40.039
<v Speaker 1>did that, we did that. Let's say a few things

774
00:56:40.079 --> 00:56:44.039
<v Speaker 1>about Gaza. So yeah, I mean, the more time passes,

775
00:56:44.960 --> 00:56:48.760
<v Speaker 1>the more it's eminently clear that there's no massive starvation

776
00:56:48.880 --> 00:56:51.960
<v Speaker 1>going on in Gaza. A guzens hungry. Years are some

777
00:56:52.119 --> 00:57:00.920
<v Speaker 1>gauzens starving, maybe possibly? And whose fault is that? Well,

778
00:57:00.960 --> 00:57:04.239
<v Speaker 1>it's clearly the first of ramas, not only because they

779
00:57:04.280 --> 00:57:08.159
<v Speaker 1>could end it all tomorrow by surrendering and releasing the hostages,

780
00:57:09.079 --> 00:57:12.599
<v Speaker 1>but also directly because they keep stealing the food. More

781
00:57:12.679 --> 00:57:16.480
<v Speaker 1>food has gone into Gaza than is needed to feed

782
00:57:16.480 --> 00:57:21.400
<v Speaker 1>the population. There is plenty of food somewhere in Gaza,

783
00:57:22.159 --> 00:57:27.159
<v Speaker 1>it's just being held by ramas and not being distributed

784
00:57:27.159 --> 00:57:31.800
<v Speaker 1>to the civilian population. So the only entity political entity

785
00:57:32.079 --> 00:57:37.480
<v Speaker 1>starving the Palestinians preventing the Palestinians from having the appropriate

786
00:57:37.519 --> 00:57:43.039
<v Speaker 1>amount of food is ramas. And yet interestingly, Israel is

787
00:57:43.079 --> 00:57:46.920
<v Speaker 1>being blamed one hundred percent for whatever starvation is happening,

788
00:57:48.320 --> 00:57:52.079
<v Speaker 1>and the degree to which it's being blamed is just unbelievable.

789
00:57:54.159 --> 00:57:57.159
<v Speaker 1>I mean, the hostility towards Israel is maybe its highest

790
00:57:57.280 --> 00:58:02.480
<v Speaker 1>it's ever been. All over Europe, people are hostile political parties,

791
00:58:02.480 --> 00:58:05.199
<v Speaker 1>but also I think people in the streets in the

792
00:58:05.280 --> 00:58:08.199
<v Speaker 1>United States survey has a survey has shown that people

793
00:58:08.199 --> 00:58:11.920
<v Speaker 1>are shifting to an anti Israeli stand, particularly young people.

794
00:58:12.480 --> 00:58:15.480
<v Speaker 1>Israel has done a very very poor job of explaining itself.

795
00:58:15.960 --> 00:58:18.480
<v Speaker 1>The defenders of Israel have done a very very poor

796
00:58:18.559 --> 00:58:23.840
<v Speaker 1>job defending Israel, and the consequence is that the hostility

797
00:58:23.920 --> 00:58:28.519
<v Speaker 1>is all in Israel. You know, un delivered plenty of trucks,

798
00:58:30.199 --> 00:58:34.280
<v Speaker 1>It's just that most of them, an overwhelming majority of them,

799
00:58:34.880 --> 00:58:41.960
<v Speaker 1>will hijack Bahamas and Haramas controls. And if you count

800
00:58:42.000 --> 00:58:45.360
<v Speaker 1>all the trucks and the food on them, Gaza should

801
00:58:45.360 --> 00:58:48.239
<v Speaker 1>have plenty of food for two million people. I mean,

802
00:58:49.960 --> 00:58:52.360
<v Speaker 1>they won't be They're not going to all become a beest,

803
00:58:52.760 --> 00:58:59.760
<v Speaker 1>but they would not be stopping. Ramas understands that the

804
00:59:00.039 --> 00:59:03.639
<v Speaker 1>world is always just looking for an excuse to blame Israel.

805
00:59:04.440 --> 00:59:06.679
<v Speaker 1>The world is always looking for an excuse to go

806
00:59:06.719 --> 00:59:12.719
<v Speaker 1>after the Jews, and it feeds them with an excuse.

807
00:59:12.760 --> 00:59:17.239
<v Speaker 1>Every few months, it finds something. And what was really

808
00:59:17.280 --> 00:59:23.000
<v Speaker 1>shocking is the Kramas released a video of a clearly

809
00:59:23.199 --> 00:59:28.719
<v Speaker 1>starving Israeli hostage, in their words, digging his own grave.

810
00:59:30.440 --> 00:59:33.039
<v Speaker 1>But you could see all the bones. He looked like

811
00:59:33.119 --> 00:59:37.840
<v Speaker 1>he just left the concentration camp. So Haramas is starving

812
00:59:37.880 --> 00:59:43.480
<v Speaker 1>the hostages. It's admitting to starving hostages. It's celebrating starving

813
00:59:43.519 --> 00:59:51.400
<v Speaker 1>hostages by sending videos of it. Why pressure on Israel. Pressure,

814
00:59:51.519 --> 00:59:56.480
<v Speaker 1>that's for the inside Israel audience is rarely see that

815
00:59:56.559 --> 01:00:00.280
<v Speaker 1>they become all emotional. Released hostages. That's the only the

816
01:00:00.280 --> 01:00:07.079
<v Speaker 1>matters stopped. The war, released the hostages. Hamas is also well.

817
01:00:07.480 --> 01:00:09.320
<v Speaker 1>We talked about this a few weeks ago. It looked

818
01:00:09.320 --> 01:00:12.360
<v Speaker 1>like Hamas was going to agree to a cease fire.

819
01:00:13.239 --> 01:00:15.920
<v Speaker 1>Since then, as it's seen the world turn against Israel,

820
01:00:16.480 --> 01:00:22.320
<v Speaker 1>it has refused any cease fire deal. Niteniao after he

821
01:00:22.400 --> 01:00:24.199
<v Speaker 1>met last time with Trump and Trump told him to

822
01:00:24.199 --> 01:00:28.199
<v Speaker 1>cut a deal. Antennia is basically compromising and compromising and compromising.

823
01:00:28.880 --> 01:00:32.159
<v Speaker 1>Haramas was saying no, no, no, no, no. Oh. Hamaso

824
01:00:32.280 --> 01:00:35.400
<v Speaker 1>looked like it was every time he compromised, they asked

825
01:00:35.400 --> 01:00:37.559
<v Speaker 1>for more, and then he compromised, they asked for more,

826
01:00:38.280 --> 01:00:42.599
<v Speaker 1>and then they basically basically walked away and said no

827
01:00:42.679 --> 01:00:49.199
<v Speaker 1>to any proposal because the world just just gives them

828
01:00:49.199 --> 01:00:52.159
<v Speaker 1>everything they want. I mean, the reality is that all

829
01:00:52.159 --> 01:00:55.159
<v Speaker 1>these countries declaring that they will now recognize a Palestinian

830
01:00:55.199 --> 01:00:58.920
<v Speaker 1>state means to Ramas that their strategy is winning. It

831
01:00:58.960 --> 01:01:02.239
<v Speaker 1>means to Ramas that October seventh was worth it. Indeed,

832
01:01:02.239 --> 01:01:07.320
<v Speaker 1>the senior official in Tramas were shown on video saying, well,

833
01:01:07.400 --> 01:01:08.880
<v Speaker 1>keep doing October seventh.

834
01:01:08.960 --> 01:01:11.599
<v Speaker 2>We're not gonna stop as long as we can. We

835
01:01:11.639 --> 01:01:12.280
<v Speaker 2>will do it.

836
01:01:13.519 --> 01:01:16.639
<v Speaker 1>Until the occupation ends, and the and the interviewer asks,

837
01:01:16.840 --> 01:01:19.039
<v Speaker 1>you mean the occupation of Gaza, and the guy said

838
01:01:19.039 --> 01:01:24.440
<v Speaker 1>absolutely not the occupation of Israel. They know exactly what

839
01:01:24.440 --> 01:01:26.639
<v Speaker 1>they want. They want the annihilation of the state of Israel.

840
01:01:27.039 --> 01:01:33.599
<v Speaker 1>They are explicitly genocidal, They're explicitly calling for a genocide.

841
01:01:33.840 --> 01:01:36.519
<v Speaker 1>They're our moderates. They're not they're not playing games. They

842
01:01:36.880 --> 01:01:40.880
<v Speaker 1>want to kill every Jew in Israel. And they say that,

843
01:01:41.440 --> 01:01:46.440
<v Speaker 1>they express that opinion. They're not shy, they're not afraid.

844
01:01:46.719 --> 01:01:52.400
<v Speaker 1>And Europeans and Americans look at that and saying, eh ah,

845
01:01:52.679 --> 01:01:56.000
<v Speaker 1>just talk. They look at the lies that Ramas says

846
01:01:56.000 --> 01:02:00.000
<v Speaker 1>about what Israel's doing. Oh, Israel, they're genocidal. They're really evil,

847
01:02:00.079 --> 01:02:05.119
<v Speaker 1>They're really bad. It's just it really is unbelievable to

848
01:02:05.280 --> 01:02:11.320
<v Speaker 1>see anti Semitism as common as popular as it is

849
01:02:11.400 --> 01:02:13.840
<v Speaker 1>right now. It's just astoning. I don't know if you

850
01:02:13.840 --> 01:02:18.159
<v Speaker 1>saw the video of this group of young influences, you know,

851
01:02:18.800 --> 01:02:21.559
<v Speaker 1>on some buddy's podcast, all sitting on a big table

852
01:02:21.599 --> 01:02:24.719
<v Speaker 1>and a bunch of them and they're all talking about Hitler.

853
01:02:25.519 --> 01:02:27.119
<v Speaker 1>And you know, Hitler wasn't as bad as a guy

854
01:02:27.119 --> 01:02:30.679
<v Speaker 1>as people claim, just Tucker calls and talking points. Wasn't

855
01:02:30.679 --> 01:02:32.920
<v Speaker 1>a bad guy. And look, if he did what he

856
01:02:32.960 --> 01:02:33.400
<v Speaker 1>did to the.

857
01:02:33.400 --> 01:02:36.679
<v Speaker 2>Jews, he must have done something to provoke him.

858
01:02:37.559 --> 01:02:40.840
<v Speaker 1>It just must have done something bad.

859
01:02:40.920 --> 01:02:42.480
<v Speaker 2>You know, the Jews can't be blameless.

860
01:02:43.920 --> 01:02:47.039
<v Speaker 1>And when somebody said, you know, given how much power

861
01:02:47.079 --> 01:02:53.199
<v Speaker 1>the Jews have in America. What's the solution? And somebody said,

862
01:02:53.519 --> 01:02:57.280
<v Speaker 1>somebody at the table said, seriously, genocide out words. We

863
01:02:57.440 --> 01:03:03.719
<v Speaker 1>need to kill them all. These are kids, twenty year

864
01:03:03.719 --> 01:03:09.000
<v Speaker 1>olds talk about slaughtering the Jews in America cause they

865
01:03:09.000 --> 01:03:11.400
<v Speaker 1>have too much power. Cause what else can you do

866
01:03:11.440 --> 01:03:15.280
<v Speaker 1>with him? I mean, Hitler figured it out, he was

867
01:03:15.280 --> 01:03:17.800
<v Speaker 1>ahead of his time. We need to do the same

868
01:03:17.800 --> 01:03:21.880
<v Speaker 1>thing he did. It's really scary And I can't even

869
01:03:21.920 --> 01:03:24.920
<v Speaker 1>tell with those kids, I couldn't tell if there were

870
01:03:25.000 --> 01:03:31.320
<v Speaker 1>right wing influences or left wing influences. Probably left wing influences,

871
01:03:31.320 --> 01:03:33.320
<v Speaker 1>but they also sounded pretty much like tech the Carson,

872
01:03:33.599 --> 01:03:39.000
<v Speaker 1>so I I can you tell a difference anymore. It

873
01:03:39.039 --> 01:03:43.719
<v Speaker 1>wasn't a jubilee. Wasn't a jubilee. It was on somebody's

874
01:03:43.719 --> 01:03:48.119
<v Speaker 1>podcast with a bunch of people sitting around. It was

875
01:03:48.119 --> 01:03:52.199
<v Speaker 1>on the video of this was on YouTube on Twitter,

876
01:03:54.000 --> 01:03:58.920
<v Speaker 1>sitting around uh uh, mostly girls, mostly women, and just

877
01:04:00.320 --> 01:04:06.599
<v Speaker 1>it's just unbelievable, the vitriol, the hatred and the stupidity

878
01:04:07.159 --> 01:04:11.119
<v Speaker 1>it usually goes together, and the stupidity. In the meantime,

879
01:04:11.199 --> 01:04:16.360
<v Speaker 1>Nitagneo is now favoring the complete conquest of Gaza. It's

880
01:04:16.360 --> 01:04:20.960
<v Speaker 1>only taking him a year and ten months. So he's

881
01:04:21.000 --> 01:04:23.440
<v Speaker 1>you know, he's almost getting in it, almost getting in it.

882
01:04:25.480 --> 01:04:29.000
<v Speaker 1>He's arguing to occupy Gaza completely, take the whole territory

883
01:04:29.000 --> 01:04:36.519
<v Speaker 1>over and rule it. The chief of the IDF, General Zamil,

884
01:04:37.480 --> 01:04:41.679
<v Speaker 1>is objecting, and indeed a significant portion of the idea

885
01:04:42.519 --> 01:04:45.320
<v Speaker 1>is objecting. They think this would be a strategic mistake.

886
01:04:47.639 --> 01:04:51.239
<v Speaker 1>And this is a bigcomfrontation. Now the idea of chief

887
01:04:52.000 --> 01:04:55.639
<v Speaker 1>is antagno appointee. This is the guy nitagnow brought in.

888
01:04:56.400 --> 01:04:57.960
<v Speaker 1>He got rid of the previous guy and he brought

889
01:04:58.000 --> 01:05:00.800
<v Speaker 1>this guy who was supposed to be more Ali Nathaniel.

890
01:05:01.440 --> 01:05:05.039
<v Speaker 1>So there is a real conflict among the leadership within Israel.

891
01:05:07.800 --> 01:05:12.000
<v Speaker 1>I think occupying Gaza, I mean, it needs to be done,

892
01:05:12.239 --> 01:05:14.639
<v Speaker 1>but it's it's going to be difficult. It's going to

893
01:05:14.679 --> 01:05:17.440
<v Speaker 1>be difficult to hold the territory. It's going to place

894
01:05:17.480 --> 01:05:21.079
<v Speaker 1>a lot of Israeli troops in Home's way. It's gonna

895
01:05:21.719 --> 01:05:25.199
<v Speaker 1>encourage Ramas to engage in kind of localized terrorist acts.

896
01:05:27.159 --> 01:05:33.639
<v Speaker 1>But Israel needs to needs to do this. At least,

897
01:05:34.039 --> 01:05:36.119
<v Speaker 1>it needs to go in and occupy. It needs to

898
01:05:36.119 --> 01:05:40.760
<v Speaker 1>destroy Kramas. Maybe then it can retreat and convince the

899
01:05:40.840 --> 01:05:43.519
<v Speaker 1>force of Arab nations to come in to replace it.

900
01:05:44.519 --> 01:05:47.800
<v Speaker 1>But Israel, now, I agree in Nathaniel in this it

901
01:05:47.840 --> 01:05:52.880
<v Speaker 1>needs to go in now and destroy Kramas completely. And uh,

902
01:05:53.119 --> 01:05:57.199
<v Speaker 1>you know part of that is it needs to just

903
01:05:57.320 --> 01:06:01.760
<v Speaker 1>accept the fact that the hostages are probably the equivalent

904
01:06:01.800 --> 01:06:08.679
<v Speaker 1>of death. It cannot keep waiting for a hostage deal.

905
01:06:08.760 --> 01:06:11.920
<v Speaker 1>It cannot keep hoping and praying for the hostages to

906
01:06:11.920 --> 01:06:17.440
<v Speaker 1>be released. This is a mistake done in October eighth

907
01:06:18.920 --> 01:06:21.559
<v Speaker 1>when the decision was made, or sometime after October seventh,

908
01:06:21.920 --> 01:06:25.239
<v Speaker 1>when the decisions were made not to risk the hostages

909
01:06:25.320 --> 01:06:27.519
<v Speaker 1>lives at all costs, that that was the priority. The

910
01:06:27.519 --> 01:06:30.039
<v Speaker 1>priority was bringing back to the hostages, when the priorities

911
01:06:30.039 --> 01:06:33.039
<v Speaker 1>should have been destroyed Ramas. Save the hostages way you can,

912
01:06:33.519 --> 01:06:35.599
<v Speaker 1>But the one hundred percent focus should have been from

913
01:06:35.679 --> 01:06:39.480
<v Speaker 1>the beginning, the complete and of the destruction of Ramas.

914
01:06:47.000 --> 01:06:50.760
<v Speaker 1>All right, So we'll see how that plays out within

915
01:06:50.840 --> 01:06:57.880
<v Speaker 1>the Israeli politics government. The idea comtantly controls about seventy

916
01:06:57.920 --> 01:07:02.519
<v Speaker 1>five percent of gods a strip, but the idea would

917
01:07:02.519 --> 01:07:07.360
<v Speaker 1>be to occupy There are many territory which includes a

918
01:07:07.519 --> 01:07:13.920
<v Speaker 1>lot of areas that are highly densely populated. There are

919
01:07:13.960 --> 01:07:18.639
<v Speaker 1>certain areas where the idea has not operated at all

920
01:07:19.320 --> 01:07:21.960
<v Speaker 1>because those areas they believe the hostages are being kept,

921
01:07:23.000 --> 01:07:28.000
<v Speaker 1>and they believe that as they move into those areas,

922
01:07:28.360 --> 01:07:32.360
<v Speaker 1>harmas will kill the hostages. And I think that's probably true,

923
01:07:32.840 --> 01:07:37.079
<v Speaker 1>and I think they have to do it anyway, as

924
01:07:37.519 --> 01:07:40.639
<v Speaker 1>heartbreaking as that would be to many families and many people.

925
01:07:41.480 --> 01:07:47.079
<v Speaker 1>I know, my nephew's best friend is still a hostage.

926
01:07:48.119 --> 01:07:52.440
<v Speaker 1>So a lot of my family, you know, prioritize a

927
01:07:52.480 --> 01:07:58.360
<v Speaker 1>deal above all else. But it's a bad long term strategy.

928
01:07:58.440 --> 01:08:02.280
<v Speaker 1>Strategy is that would again something people don't seem to

929
01:08:02.320 --> 01:08:08.760
<v Speaker 1>hold on to very much. All right, finally, let's do this.

930
01:08:09.960 --> 01:08:11.639
<v Speaker 1>What do I need to do? Yes, I want to

931
01:08:11.679 --> 01:08:14.119
<v Speaker 1>share this graph. It's a fun graph. You've probably seen

932
01:08:14.159 --> 01:08:18.760
<v Speaker 1>it before. This is a graph of hopefully you can

933
01:08:18.800 --> 01:08:25.399
<v Speaker 1>see it. Price changes are very good from January two thousand.

934
01:08:25.479 --> 01:08:27.600
<v Speaker 2>I know you can't see the title.

935
01:08:27.680 --> 01:08:30.760
<v Speaker 1>So this is price changes January two thousand to June

936
01:08:30.760 --> 01:08:34.399
<v Speaker 1>twenty twenty five, so over the last twenty five years,

937
01:08:35.079 --> 01:08:40.840
<v Speaker 1>twenty five and a half years, basically goods and services

938
01:08:40.840 --> 01:08:44.720
<v Speaker 1>and wages. So at the top there with the increase

939
01:08:44.720 --> 01:08:49.159
<v Speaker 1>of two hundred and seventy one percent. It's hospital services

940
01:08:49.199 --> 01:08:51.600
<v Speaker 1>just below, well quite a bit below that had one

941
01:08:51.680 --> 01:08:54.840
<v Speaker 1>hundred and ninety four percent. It's college tuition and fees.

942
01:08:55.680 --> 01:09:02.039
<v Speaker 1>Below that is college textbooks, that, childcare and nursery schools.

943
01:09:02.800 --> 01:09:07.520
<v Speaker 1>Below that medical care services. Below that, average hourly wages.

944
01:09:07.680 --> 01:09:09.960
<v Speaker 1>Average hourly wages have arisen one hundred and twenty seven

945
01:09:09.960 --> 01:09:12.880
<v Speaker 1>point four percent. Now, this is not corrected for inflation.

946
01:09:15.439 --> 01:09:19.239
<v Speaker 1>Below that is housing one hundred and eight percent. Below that,

947
01:09:19.319 --> 01:09:23.680
<v Speaker 1>food and beverage one hundred and two percent. Below that

948
01:09:24.520 --> 01:09:31.680
<v Speaker 1>listence somewhere here is oh, the black line crossing is inflation.

949
01:09:31.960 --> 01:09:36.079
<v Speaker 1>Inflation's gone up by basically ninety percent during this period.

950
01:09:36.279 --> 01:09:38.680
<v Speaker 1>So everything I've read to you up until now has

951
01:09:38.760 --> 01:09:43.960
<v Speaker 1>gone up more than inflation, right, with hospital services a

952
01:09:44.000 --> 01:09:47.960
<v Speaker 1>lot more than inflation. I'm surprised how housing has not

953
01:09:48.079 --> 01:09:52.680
<v Speaker 1>gone up that much more than inflation. Inflation is ninety percent,

954
01:09:52.880 --> 01:09:55.920
<v Speaker 1>housing one hundred and eight percent, So on a national scale,

955
01:09:56.079 --> 01:09:59.920
<v Speaker 1>housing has not gone up that much compared to inflation. Generally,

956
01:10:02.000 --> 01:10:04.479
<v Speaker 1>I feel like and and average hourly wages have gone

957
01:10:04.560 --> 01:10:08.000
<v Speaker 1>up more than housing, so much. For all of those again,

958
01:10:08.039 --> 01:10:11.319
<v Speaker 1>this is average, uh, this is average. Now, this is

959
01:10:11.960 --> 01:10:15.880
<v Speaker 1>I'm using inflation. I know that term that is contentious, right,

960
01:10:17.079 --> 01:10:20.640
<v Speaker 1>I'm using inflation here to mean a rise in the

961
01:10:20.720 --> 01:10:21.960
<v Speaker 1>costs of goods.

962
01:10:23.000 --> 01:10:24.800
<v Speaker 2>This is this is.

963
01:10:25.039 --> 01:10:28.920
<v Speaker 1>I think this is CPI. I think this is a CPI.

964
01:10:29.119 --> 01:10:32.560
<v Speaker 1>Maybe it's pc but it's one of those measures of

965
01:10:34.039 --> 01:10:38.640
<v Speaker 1>increased prices that the government puts out right, This is CPI.

966
01:10:39.199 --> 01:10:43.079
<v Speaker 1>I think now look at all the goods that are

967
01:10:43.119 --> 01:10:46.279
<v Speaker 1>below that went up less than inflation. New cars went

968
01:10:46.359 --> 01:10:50.359
<v Speaker 1>up twenty four point seven percent, most of that recently,

969
01:10:50.800 --> 01:10:54.199
<v Speaker 1>and and that's gonna go up now. Of course, this

970
01:10:54.319 --> 01:10:59.840
<v Speaker 1>is all. It doesn't include tariffs, cause this is excluding taxes,

971
01:11:01.920 --> 01:11:07.399
<v Speaker 1>household furnishing, in operations, and clothing. Clothing is flat. Clothing

972
01:11:07.600 --> 01:11:13.880
<v Speaker 1>has gone up zero percent, which is basically, you know,

973
01:11:14.000 --> 01:11:17.279
<v Speaker 1>ninety percent less than inflation. So in real terms, the

974
01:11:17.359 --> 01:11:20.760
<v Speaker 1>cost of clothing has gone down a lot, a lot

975
01:11:21.359 --> 01:11:24.920
<v Speaker 1>even you cause this price has gone down a lot. Furnishing,

976
01:11:25.000 --> 01:11:27.560
<v Speaker 1>furnishing and operation has gone down a lot. Cell phone

977
01:11:27.600 --> 01:11:32.800
<v Speaker 1>services has gone down forty two point not in real terms,

978
01:11:33.960 --> 01:11:37.119
<v Speaker 1>that's inhenomenal terms, which means it's gone up gone down

979
01:11:37.319 --> 01:11:42.880
<v Speaker 1>a lot more if you adjust for inflation. Computer software

980
01:11:42.960 --> 01:11:47.279
<v Speaker 1>gone down seventy two percent, toys seventy four percent, TVs

981
01:11:47.359 --> 01:11:50.840
<v Speaker 1>ninety eight percent. Now what do you notice about this chart?

982
01:11:51.199 --> 01:11:55.920
<v Speaker 1>What what is the difference between what has gone up

983
01:11:55.960 --> 01:11:57.840
<v Speaker 1>and what has gone down? What are some of the differences.

984
01:11:57.880 --> 01:12:07.920
<v Speaker 1>There's several differences here, which interesting, right? What are they? Well? First, first,

985
01:12:13.880 --> 01:12:19.319
<v Speaker 1>all the ones, all the ones that have gone up

986
01:12:19.319 --> 01:12:25.760
<v Speaker 1>more than inflation, provide heavily heavily regulated by government. Obviously,

987
01:12:25.760 --> 01:12:32.000
<v Speaker 1>all the healthcare ones, hospitals, childcarell hospitals, many co care services,

988
01:12:33.199 --> 01:12:38.880
<v Speaker 1>to education, college tuition, college textbooks, childcare, nursery services, all

989
01:12:38.920 --> 01:12:43.760
<v Speaker 1>heavily influenced by regulations. And then housing, food and beverage

990
01:12:45.319 --> 01:12:49.680
<v Speaker 1>not so clear that one's not that regulated except for sugar, right,

991
01:12:49.840 --> 01:12:55.760
<v Speaker 1>except for consul but not as regulated. New cause, housing,

992
01:12:56.039 --> 01:13:00.880
<v Speaker 1>household clothing, cell phone, computers, toys, TVs t not regulated

993
01:13:00.920 --> 01:13:03.840
<v Speaker 1>at all, computer software not regulated at all, toys not

994
01:13:03.920 --> 01:13:12.560
<v Speaker 1>regulated much, all of them way below inflation. So the

995
01:13:12.560 --> 01:13:15.800
<v Speaker 1>things that are dependent on a private section with little

996
01:13:15.840 --> 01:13:19.079
<v Speaker 1>regulation price went down. The things that are depending on

997
01:13:19.159 --> 01:13:23.199
<v Speaker 1>government prices went way up more than inflation. But there's

998
01:13:23.199 --> 01:13:29.159
<v Speaker 1>another way to look at this. The things that are

999
01:13:30.720 --> 01:13:34.600
<v Speaker 1>imported that are actually made in other countries that are

1000
01:13:34.680 --> 01:13:39.760
<v Speaker 1>imported in the United States or that face heavy competition

1001
01:13:42.239 --> 01:13:46.880
<v Speaker 1>from the outside the United States are all down, are

1002
01:13:46.960 --> 01:13:51.399
<v Speaker 1>all significantly cheaper than they used to be, significantly cheaper

1003
01:13:51.399 --> 01:13:54.479
<v Speaker 1>than they used to be. I mean, TV is basically

1004
01:13:54.560 --> 01:14:00.359
<v Speaker 1>ninety eight percent cheaper than they used to be. Computers, computers,

1005
01:14:00.560 --> 01:14:04.119
<v Speaker 1>cell phones, cell phone, you know, self services is not

1006
01:14:04.319 --> 01:14:08.760
<v Speaker 1>really importable, right, so that's that's an American service. So

1007
01:14:08.840 --> 01:14:15.000
<v Speaker 1>that's all about competition and innovation. Clothing, which is all inputs,

1008
01:14:15.000 --> 01:14:19.279
<v Speaker 1>household furniture all inputs, new cars inputs in the United States,

1009
01:14:19.279 --> 01:14:23.640
<v Speaker 1>but heavy import competition, computers inputs, toys, inputs, TVs inputs.

1010
01:14:25.079 --> 01:14:29.039
<v Speaker 1>And then if you look at the top portion, everything's domestic,

1011
01:14:29.720 --> 01:14:33.560
<v Speaker 1>including food and beverages which are made and produced.

1012
01:14:33.199 --> 01:14:34.079
<v Speaker 2>In the United States.

1013
01:14:34.159 --> 01:14:39.439
<v Speaker 1>Rights food here, and they're all up. So the things

1014
01:14:39.479 --> 01:14:42.880
<v Speaker 1>that govern subsidized and the things made in the United

1015
01:14:42.880 --> 01:14:50.560
<v Speaker 1>States for US consumption prices go up. The things that

1016
01:14:50.600 --> 01:14:55.600
<v Speaker 1>are left to the market and that are imported prices

1017
01:14:55.600 --> 01:15:01.079
<v Speaker 1>have gone down dramatically, not even a little, but dramatically. Now,

1018
01:15:00.920 --> 01:15:07.119
<v Speaker 1>how to how do tariffs change us? We will see,

1019
01:15:07.800 --> 01:15:13.239
<v Speaker 1>But this is suggests that you know, if we care

1020
01:15:13.279 --> 01:15:16.920
<v Speaker 1>about cost of things and American people people seem to

1021
01:15:16.960 --> 01:15:20.439
<v Speaker 1>care about that. They don't like inflation. Then we don't

1022
01:15:20.439 --> 01:15:24.319
<v Speaker 1>want teiffs. We want competition, or we want free trade,

1023
01:15:24.640 --> 01:15:27.359
<v Speaker 1>because look what free day trade does the TV prices

1024
01:15:27.359 --> 01:15:30.520
<v Speaker 1>and computer software prices, and clothing prices and even new

1025
01:15:30.560 --> 01:15:35.920
<v Speaker 1>car prices. I mean, this is a pretty amazing graph,

1026
01:15:36.359 --> 01:15:43.039
<v Speaker 1>one of the most important graphs in the world. All right,

1027
01:15:44.560 --> 01:15:47.960
<v Speaker 1>it's quick that all right. So that is the news.

1028
01:15:49.560 --> 01:15:55.399
<v Speaker 1>August fifth, Tuesday, August fifth. Thank you to other super chatters.

1029
01:15:55.439 --> 01:15:58.359
<v Speaker 1>You guys have done great. Wow, we've got a bunch

1030
01:15:58.359 --> 01:16:01.000
<v Speaker 1>of stickers and we've got a few questions and yeah,

1031
01:16:01.000 --> 01:16:03.680
<v Speaker 1>this is good, this is good. Thank you. Let's thank

1032
01:16:03.720 --> 01:16:08.079
<v Speaker 1>the stickers. Jackson, thank you. As a Turk Economy. Thank you, Barba,

1033
01:16:08.159 --> 01:16:12.199
<v Speaker 1>thank you, Wes, thank you. Fifty dollars, Thank you Wes

1034
01:16:12.279 --> 01:16:16.279
<v Speaker 1>for the sticker. And then Dave Dave Dean fifty dollars

1035
01:16:16.319 --> 01:16:19.159
<v Speaker 1>for a sticker. Thank you, thank you, thank you, Jeremy,

1036
01:16:19.159 --> 01:16:24.159
<v Speaker 1>thank you for the sticker. Silvano's fifty dollars. You got

1037
01:16:24.199 --> 01:16:26.720
<v Speaker 1>a started right at the beginning. Thank you, Silvana. So

1038
01:16:26.720 --> 01:16:28.600
<v Speaker 1>it's good to see you here. He was on vacation.

1039
01:16:28.680 --> 01:16:33.479
<v Speaker 1>That's why it wasn't around all right. Let me remind

1040
01:16:33.479 --> 01:16:37.880
<v Speaker 1>you that this show is sponsored by Hendershot Wealth, hendershot

1041
01:16:37.880 --> 01:16:42.520
<v Speaker 1>Wealth dot com, slash ybs. They offer product they can

1042
01:16:42.600 --> 01:16:48.600
<v Speaker 1>help you reduce your tax bill significantly if you have

1043
01:16:48.680 --> 01:16:51.920
<v Speaker 1>a lot of capital gains, so capital gates taxes can

1044
01:16:51.960 --> 01:16:55.880
<v Speaker 1>be bruto. They can wipe out, you know, significant gains

1045
01:16:55.920 --> 01:16:58.640
<v Speaker 1>that you have, maybe on stocks, maybe in a company

1046
01:16:58.680 --> 01:17:02.000
<v Speaker 1>that you're selling, maybe in bitcoin that you're selling, and

1047
01:17:03.520 --> 01:17:05.680
<v Speaker 1>you know the government is taking if you're in California,

1048
01:17:05.680 --> 01:17:09.520
<v Speaker 1>it's taking over thirty percent of it. Now you can

1049
01:17:09.560 --> 01:17:13.600
<v Speaker 1>defer that and by deferring it really shrink the impact

1050
01:17:13.600 --> 01:17:18.199
<v Speaker 1>it has on you, and you can offset it. And

1051
01:17:18.439 --> 01:17:23.239
<v Speaker 1>they have a strategy that does all that. Now, I

1052
01:17:23.319 --> 01:17:25.279
<v Speaker 1>encourage you to check it out. If you're in a

1053
01:17:25.319 --> 01:17:27.359
<v Speaker 1>position where we have a lot of capital gains taxes,

1054
01:17:27.760 --> 01:17:29.439
<v Speaker 1>or if you're going to sell your company sometime in

1055
01:17:29.439 --> 01:17:32.800
<v Speaker 1>the future, you can set your financial situation up in

1056
01:17:32.840 --> 01:17:38.319
<v Speaker 1>a way as to minimize the taxes into the future.

1057
01:17:39.880 --> 01:17:43.640
<v Speaker 1>To do that, go to my YouTube channel and check

1058
01:17:43.680 --> 01:17:46.960
<v Speaker 1>out my interview with Robert Handershot. We talked for about

1059
01:17:47.000 --> 01:17:50.960
<v Speaker 1>half an hour about this product. Then if what you

1060
01:17:51.039 --> 01:17:54.720
<v Speaker 1>hear is even mildly interesting. Just sign up on their

1061
01:17:54.720 --> 01:17:59.279
<v Speaker 1>website and they'll call you and you'll chat about it.

1062
01:17:58.920 --> 01:18:01.000
<v Speaker 1>You know, it's not going to be hot, I promise,

1063
01:18:02.079 --> 01:18:04.640
<v Speaker 1>but if it's appropriate for you, you can save a lot

1064
01:18:04.680 --> 01:18:09.560
<v Speaker 1>of money. You can thank me later. Uh. The iron

1065
01:18:09.640 --> 01:18:14.239
<v Speaker 1>Institute is remaining you that it has on the on app,

1066
01:18:14.319 --> 01:18:18.239
<v Speaker 1>an app for the phone Google, you know, Android and

1067
01:18:18.399 --> 01:18:22.439
<v Speaker 1>Apple an app that is the Irne Institute app which

1068
01:18:22.479 --> 01:18:27.000
<v Speaker 1>basically contains the iron Ran library. Iron Ran talks, Ironran

1069
01:18:27.199 --> 01:18:31.720
<v Speaker 1>articles and includes then and peakoffs, seminal courses on objectivism,

1070
01:18:31.840 --> 01:18:34.119
<v Speaker 1>all of his courses Golding the History of Philosophy which

1071
01:18:34.199 --> 01:18:38.199
<v Speaker 1>is a must listen, but Understanding Objectivism and all his

1072
01:18:38.359 --> 01:18:42.920
<v Speaker 1>courses on O pah. Just you know, material you can't

1073
01:18:42.960 --> 01:18:47.000
<v Speaker 1>get anywhere else, an incredible value and you have them

1074
01:18:47.039 --> 01:18:50.880
<v Speaker 1>at fingertips on an app. Check it out. Go to

1075
01:18:51.039 --> 01:18:55.199
<v Speaker 1>iron Ran dot og, iron Ran dot oak slash start here,

1076
01:18:55.479 --> 01:19:00.119
<v Speaker 1>Iran dot oak slash start here and uh the be

1077
01:19:00.159 --> 01:19:02.760
<v Speaker 1>an icon there to get the app either either from

1078
01:19:02.800 --> 01:19:05.600
<v Speaker 1>the app store, Apple Store or the Google Store and

1079
01:19:05.760 --> 01:19:07.880
<v Speaker 1>download it so you can have it at your fingertips.

1080
01:19:07.920 --> 01:19:12.359
<v Speaker 1>And now, finally, Alex Epstein Epstein, Alex Epstein is the

1081
01:19:12.520 --> 01:19:18.079
<v Speaker 1>world authority on everything to do with energy, climate change, environmentalism.

1082
01:19:18.640 --> 01:19:21.000
<v Speaker 1>I mean, it's amazing the quality of the content that

1083
01:19:21.039 --> 01:19:22.720
<v Speaker 1>he puts out there. In the quantity of the content

1084
01:19:22.760 --> 01:19:25.079
<v Speaker 1>he puts out there, you will learn a lot about

1085
01:19:25.079 --> 01:19:27.359
<v Speaker 1>those areas in which there is.

1086
01:19:27.319 --> 01:19:30.680
<v Speaker 2>A lot of confusion, and of course you will.

1087
01:19:31.399 --> 01:19:34.439
<v Speaker 1>He provides talking points, so you will be He will

1088
01:19:34.560 --> 01:19:44.960
<v Speaker 1>basically help you become a better communicator, better communicator. So yeah,

1089
01:19:45.239 --> 01:19:51.239
<v Speaker 1>you know, check out check out Alex Epstein's Epstein's substack

1090
01:19:51.359 --> 01:19:54.840
<v Speaker 1>Alex Epstein dot substack dot com, Alex Epstein substect dot com.

1091
01:19:54.840 --> 01:19:55.399
<v Speaker 1>Doesn't cost you.

1092
01:19:55.439 --> 01:19:58.119
<v Speaker 2>Anything to subscribe. Go subscribe.

1093
01:19:58.199 --> 01:20:00.119
<v Speaker 1>You can also support him, you should, but you can

1094
01:20:00.159 --> 01:20:02.159
<v Speaker 1>also get it for free. Get a lot of it

1095
01:20:02.199 --> 01:20:07.159
<v Speaker 1>for free, all right, find out remind I don't know,

1096
01:20:07.199 --> 01:20:09.880
<v Speaker 1>there's been a little glitch with PayPal. I'll just mention

1097
01:20:10.039 --> 01:20:12.960
<v Speaker 1>some of your subscribers monthly subscribers on PayPal, and for

1098
01:20:12.960 --> 01:20:16.119
<v Speaker 1>some reason, there's just been a flurry of rejected credit

1099
01:20:16.199 --> 01:20:19.399
<v Speaker 1>cards over the last i'd say a couple of weeks,

1100
01:20:20.399 --> 01:20:24.159
<v Speaker 1>So please check check and make sure your coment with

1101
01:20:24.199 --> 01:20:28.520
<v Speaker 1>your contribution to the run book show. I'd say about

1102
01:20:28.520 --> 01:20:33.760
<v Speaker 1>ten of you are being somehow dropped, and I know that.

1103
01:20:34.000 --> 01:20:36.640
<v Speaker 1>I know some people who were dropped didn't want to

1104
01:20:36.680 --> 01:20:40.199
<v Speaker 1>be dropped, and they got an email from PayPal saying

1105
01:20:40.239 --> 01:20:42.760
<v Speaker 1>something like, we dropped you and we didn't do anything.

1106
01:20:43.159 --> 01:20:47.600
<v Speaker 1>So PayPal's got a glitch somewhere, So go and check

1107
01:20:47.600 --> 01:20:48.960
<v Speaker 1>it out, and if you still want to.

1108
01:20:48.920 --> 01:20:50.960
<v Speaker 2>Support the show, please return.

1109
01:20:51.159 --> 01:20:54.520
<v Speaker 1>Please fix the glitch or fix whatever the PayPal needs

1110
01:20:55.000 --> 01:20:58.000
<v Speaker 1>or if you want to, I think an easier solution

1111
01:20:58.039 --> 01:21:00.319
<v Speaker 1>than the PayPal it seems to be less glitchy, is

1112
01:21:00.560 --> 01:21:04.479
<v Speaker 1>jump over the Patreon. Go over to Patreon and uh

1113
01:21:04.600 --> 01:21:15.359
<v Speaker 1>and contribute there and just put in put in Patreon, Patreon,

1114
01:21:16.359 --> 01:21:19.600
<v Speaker 1>put you on book show and it'll it'll facilitate you

1115
01:21:19.640 --> 01:21:22.680
<v Speaker 1>being able to give a contribution there. So yeah, please

1116
01:21:22.720 --> 01:21:27.880
<v Speaker 1>become a supporter on patreon dot com. Roberts says, did

1117
01:21:27.920 --> 01:21:32.800
<v Speaker 1>you know that Lisbon, Portugal it's actually forty two miles

1118
01:21:32.840 --> 01:21:36.600
<v Speaker 1>closer to Detroit, Michigan than Puerto Rico is the Detroit

1119
01:21:37.439 --> 01:21:43.239
<v Speaker 1>I did not know that. That seems crazy? Is there

1120
01:21:43.239 --> 01:21:45.159
<v Speaker 1>a I mean, is the direct fly from.

1121
01:21:44.960 --> 01:21:46.239
<v Speaker 2>Detroit to Lisbon?

1122
01:21:47.439 --> 01:21:49.720
<v Speaker 1>And we can compare the how many hours it takes

1123
01:21:49.760 --> 01:21:52.560
<v Speaker 1>compared to the Detroit Puerto Rico. It's probably about the

1124
01:21:52.600 --> 01:21:56.000
<v Speaker 1>same forty two miles wouldn't make any difference, right, So

1125
01:21:56.039 --> 01:21:58.359
<v Speaker 1>it's probably about the same flight time that would be.

1126
01:21:58.439 --> 01:22:03.199
<v Speaker 1>That would be fascinating. It doesn't seem right, but I

1127
01:22:03.239 --> 01:22:06.239
<v Speaker 1>guess Roberts looked it up. He's measured it. He's taken

1128
01:22:06.239 --> 01:22:15.399
<v Speaker 1>his tape measure and figured it out. All right. All right,

1129
01:22:15.920 --> 01:22:18.680
<v Speaker 1>let's turn now to a super chat. You two can

1130
01:22:19.039 --> 01:22:23.039
<v Speaker 1>do a super chat. Just jump on in and ask

1131
01:22:23.079 --> 01:22:27.359
<v Speaker 1>a question. It's pretty easy to do, all right. Let's

1132
01:22:27.359 --> 01:22:32.560
<v Speaker 1>start with the profit. The profit one hundred pounds stalling

1133
01:22:32.640 --> 01:22:35.680
<v Speaker 1>in these days, the pound Stolling is quite a bit

1134
01:22:35.680 --> 01:22:38.920
<v Speaker 1>more valuable than he used to be Visa VI the dollar.

1135
01:22:39.319 --> 01:22:41.159
<v Speaker 1>So pound has gone up a lot, one point three

1136
01:22:41.199 --> 01:22:43.600
<v Speaker 1>to two. I think one point three three. It was

1137
01:22:43.640 --> 01:22:50.840
<v Speaker 1>down to like in the teens. All right, the prophet says,

1138
01:22:50.840 --> 01:22:54.319
<v Speaker 1>how do think about taxes? Am I sacrificing the present

1139
01:22:54.479 --> 01:22:57.840
<v Speaker 1>by purposefully earning less to stay in the eight point

1140
01:22:57.840 --> 01:23:02.000
<v Speaker 1>seventy five dividend tax packer with the plan of selling

1141
01:23:02.039 --> 01:23:05.880
<v Speaker 1>business in the future. Paying twenty five percent corporate tax

1142
01:23:06.479 --> 01:23:10.279
<v Speaker 1>plus additional thirty five forty percent on same money makes

1143
01:23:10.319 --> 01:23:19.920
<v Speaker 1>me feel sick. Look, yeah, it makes you feel sick,

1144
01:23:20.199 --> 01:23:25.960
<v Speaker 1>but the reality is that you know, let me see,

1145
01:23:26.159 --> 01:23:29.119
<v Speaker 1>secrific so earning less to stay in the eight seventy

1146
01:23:29.119 --> 01:23:33.960
<v Speaker 1>five dividend tax backet with the plan of selling business

1147
01:23:33.960 --> 01:23:36.439
<v Speaker 1>in the future. You'll pay capital gains at that point

1148
01:23:36.520 --> 01:23:39.880
<v Speaker 1>unless you unless you sign up with Handershut Wealth and

1149
01:23:39.960 --> 01:23:42.800
<v Speaker 1>to prepare yourself to not pay capital gains.

1150
01:23:43.800 --> 01:23:45.079
<v Speaker 2>You're paying twenty five percent.

1151
01:23:44.880 --> 01:23:48.720
<v Speaker 1>Coup of tax and then you don't want to pay

1152
01:23:48.720 --> 01:23:51.039
<v Speaker 1>the thirty four follow it to forty percent on same

1153
01:23:51.079 --> 01:23:54.960
<v Speaker 1>money when you when you pay yourself, when you enjoy it,

1154
01:23:55.159 --> 01:23:58.520
<v Speaker 1>when you pay your self a salary. I guess. Look,

1155
01:24:02.000 --> 01:24:04.680
<v Speaker 1>I'm all for finding strategies to minimize taxes. One of

1156
01:24:04.720 --> 01:24:08.840
<v Speaker 1>the reasons all of you, including the profit should be well,

1157
01:24:08.880 --> 01:24:11.359
<v Speaker 1>you're in England, so maybe it's maybe it's different in England,

1158
01:24:11.880 --> 01:24:15.119
<v Speaker 1>and you know said it wouldn't work necessarily in England.

1159
01:24:14.840 --> 01:24:15.840
<v Speaker 2>Although you should check.

1160
01:24:16.680 --> 01:24:20.800
<v Speaker 1>But I'm all for paying less taxes. The question is

1161
01:24:20.800 --> 01:24:24.159
<v Speaker 1>what are you sacrificing so you're earning less, which means

1162
01:24:24.159 --> 01:24:29.000
<v Speaker 1>you're living at a lower stand of living. Now you know,

1163
01:24:29.000 --> 01:24:31.760
<v Speaker 1>whether that's worth it or not is a question. Is

1164
01:24:31.880 --> 01:24:35.680
<v Speaker 1>the money that you are not taking out. Is it

1165
01:24:35.760 --> 01:24:38.600
<v Speaker 1>staying in the business and therefore growing with the business.

1166
01:24:38.760 --> 01:24:42.319
<v Speaker 1>Is it money that is growing at a reasonable rate

1167
01:24:42.319 --> 01:24:44.760
<v Speaker 1>of return, So that one day, because you're not pulling

1168
01:24:44.760 --> 01:24:47.439
<v Speaker 1>money out now, because you're not taking a bigger salary, now,

1169
01:24:48.000 --> 01:24:50.800
<v Speaker 1>that money will stay in the business and grow, and

1170
01:24:50.840 --> 01:24:52.920
<v Speaker 1>therefore you'll have a lot more when you sell the

1171
01:24:52.960 --> 01:25:01.119
<v Speaker 1>business one day, if you can sustain, if you're happy

1172
01:25:01.159 --> 01:25:04.119
<v Speaker 1>with the quality of life that you sustain at a

1173
01:25:04.199 --> 01:25:06.760
<v Speaker 1>low income, You're going to pay the taxes at some point, right,

1174
01:25:07.680 --> 01:25:10.199
<v Speaker 1>maybe a little less, but when you sell the business,

1175
01:25:10.239 --> 01:25:14.960
<v Speaker 1>you'll pay capital gains. So you're paying twenty five percent

1176
01:25:15.039 --> 01:25:20.159
<v Speaker 1>corporate tax. So how exactly, Now, Remember, if you pay

1177
01:25:20.159 --> 01:25:25.039
<v Speaker 1>yourself salary, that reduces your profits at the corporate level,

1178
01:25:25.479 --> 01:25:28.880
<v Speaker 1>which means that you will paying on that money. You

1179
01:25:28.880 --> 01:25:32.039
<v Speaker 1>won't pay twice, right, you deduct it at the corporate level.

1180
01:25:32.479 --> 01:25:34.920
<v Speaker 1>You only pay it at the individual level when you

1181
01:25:35.680 --> 01:25:38.119
<v Speaker 1>take it as an individual unless you're taking the money

1182
01:25:38.119 --> 01:25:41.640
<v Speaker 1>out as dividends, and then it's eight point seventy five.

1183
01:25:41.680 --> 01:25:45.199
<v Speaker 1>You have to do the calculation. What makes more sense? Right,

1184
01:25:45.199 --> 01:25:47.880
<v Speaker 1>if you take it out as dividends, maybe it's less,

1185
01:25:49.840 --> 01:25:53.960
<v Speaker 1>but you're pushing yourself up to the higher tax bracket. Look,

1186
01:25:54.520 --> 01:25:57.479
<v Speaker 1>there's no definitive answer here. The bottom line is you

1187
01:25:57.640 --> 01:25:59.680
<v Speaker 1>have to figure out what the trade off is. The

1188
01:25:59.680 --> 01:26:03.359
<v Speaker 1>trade is a low standard of living now for what

1189
01:26:04.640 --> 01:26:07.640
<v Speaker 1>is it for something beneficial in the future. And if

1190
01:26:07.640 --> 01:26:10.359
<v Speaker 1>it is for something beneficial in the future, is that

1191
01:26:10.760 --> 01:26:14.119
<v Speaker 1>worth Because it's in the future, anything in the future

1192
01:26:14.159 --> 01:26:17.119
<v Speaker 1>is worth less than in the present. If it's of

1193
01:26:17.199 --> 01:26:22.600
<v Speaker 1>equal size, is it worth a delayed gratification? And I

1194
01:26:22.640 --> 01:26:25.960
<v Speaker 1>can't answer that question. That depends on your time preference.

1195
01:26:26.560 --> 01:26:28.720
<v Speaker 1>It depends on how much you value the present visa

1196
01:26:28.880 --> 01:26:32.520
<v Speaker 1>the future. You know, the business is risky. Every business

1197
01:26:32.560 --> 01:26:35.000
<v Speaker 1>is risky. There's a chance that money won't be there

1198
01:26:35.000 --> 01:26:41.199
<v Speaker 1>in the future should you invest it now? Right, So

1199
01:26:42.199 --> 01:26:49.319
<v Speaker 1>you've got to introspect, figure out the true cost of

1200
01:26:49.359 --> 01:26:51.239
<v Speaker 1>this to your own quality of life, stand of living.

1201
01:26:51.600 --> 01:26:54.359
<v Speaker 1>Figure out the true cost of this in terms of

1202
01:26:54.399 --> 01:26:58.239
<v Speaker 1>the future, the riskiness, the value of money in the future,

1203
01:26:58.640 --> 01:27:03.399
<v Speaker 1>and you're delayed gratification, and figure out what makes sense.

1204
01:27:04.239 --> 01:27:05.880
<v Speaker 1>You know, if you pull the money out, you could

1205
01:27:06.199 --> 01:27:10.039
<v Speaker 1>invest that money and be diversified, not all your eggs

1206
01:27:10.079 --> 01:27:13.000
<v Speaker 1>in the same basket, which is also a positive. So

1207
01:27:13.479 --> 01:27:15.960
<v Speaker 1>you've got to weigh all these considerations. There's no one

1208
01:27:16.000 --> 01:27:19.119
<v Speaker 1>answer to this. It depends on your values, your preferences,

1209
01:27:19.640 --> 01:27:24.439
<v Speaker 1>your time value preference. For example, I hope that's helpful.

1210
01:27:25.560 --> 01:27:27.279
<v Speaker 1>If not, let me know and I can dig a

1211
01:27:27.319 --> 01:27:32.479
<v Speaker 1>little deeper or try give me more details. If we

1212
01:27:32.520 --> 01:27:35.760
<v Speaker 1>do that, not you have, I'll GOORITHM fifty dollars, thank you.

1213
01:27:37.039 --> 01:27:42.560
<v Speaker 1>I'm many advocates of socialism rich because socialist policies make

1214
01:27:42.600 --> 01:27:44.960
<v Speaker 1>the rich richer and the poor poorer, at least in

1215
01:27:44.960 --> 01:27:48.600
<v Speaker 1>the short term. If you look at Western europe socialistic models,

1216
01:27:48.680 --> 01:27:52.560
<v Speaker 1>wealth is more intergenerational than dynamic. Yeah, but it's also

1217
01:27:52.720 --> 01:27:57.000
<v Speaker 1>very old wealth in Europe. You know, it's a lot

1218
01:27:57.039 --> 01:27:59.960
<v Speaker 1>of it's tied to old businesses and old real estate

1219
01:28:00.199 --> 01:28:04.920
<v Speaker 1>and old investments, and in that sense, it's in the generational.

1220
01:28:05.039 --> 01:28:07.600
<v Speaker 1>But no, I don't think that's why socialists are socialists.

1221
01:28:08.600 --> 01:28:13.039
<v Speaker 1>I don't think people are motivated by some supposed self

1222
01:28:13.079 --> 01:28:17.600
<v Speaker 1>interest in maintaining their own wealth. Socialism sustains their wealth

1223
01:28:17.600 --> 01:28:20.720
<v Speaker 1>for them. You know, a lot of socialist countries have

1224
01:28:20.840 --> 01:28:24.439
<v Speaker 1>wealth taxes. Wealth taxes have to drain your into generational wealth,

1225
01:28:24.640 --> 01:28:25.920
<v Speaker 1>so maybe they still stay wealthy.

1226
01:28:25.960 --> 01:28:26.920
<v Speaker 2>But they it drains it.

1227
01:28:27.399 --> 01:28:32.600
<v Speaker 1>So under capitalism they would face competition maybe their businesses,

1228
01:28:33.039 --> 01:28:35.520
<v Speaker 1>but if it's invested in real estate and things like that,

1229
01:28:36.000 --> 01:28:38.840
<v Speaker 1>they would still have their wealth. So no, there's no

1230
01:28:39.479 --> 01:28:44.079
<v Speaker 1>benefit to socialism, even in a short term narrow sense

1231
01:28:45.000 --> 01:28:48.319
<v Speaker 1>for wealth, because socialist governments can easily place a wealth tax.

1232
01:28:48.359 --> 01:28:51.720
<v Speaker 1>That's why rich people leave socialist countries. That's why they're rich.

1233
01:28:51.800 --> 01:28:57.239
<v Speaker 1>Left Sweden in the sixties, in the seventies, in the

1234
01:28:57.279 --> 01:29:04.600
<v Speaker 1>early eighties because it was socialists they left. And it's

1235
01:29:04.680 --> 01:29:12.640
<v Speaker 1>just not the case that one can attribute these kind

1236
01:29:12.640 --> 01:29:18.239
<v Speaker 1>of motives to wealthy people. You know, what motivates people fundamentally,

1237
01:29:19.359 --> 01:29:23.079
<v Speaker 1>and rich people are different model ideals, I know, it's

1238
01:29:23.119 --> 01:29:26.279
<v Speaker 1>hard to believe or the lack of them. And most

1239
01:29:26.279 --> 01:29:30.079
<v Speaker 1>socialists are motivated by guilt, by guilt of the wealth

1240
01:29:30.079 --> 01:29:32.560
<v Speaker 1>that they are particularly see, it's the cause and effect

1241
01:29:32.560 --> 01:29:36.199
<v Speaker 1>goes the other way around. If you have wealth that

1242
01:29:36.359 --> 01:29:40.600
<v Speaker 1>comes down from generations, you're going to feel more guilty

1243
01:29:40.640 --> 01:29:43.600
<v Speaker 1>about having their wealth than if you earned it. The

1244
01:29:43.760 --> 01:29:46.800
<v Speaker 1>more guilty you feel about having the wealth, the more

1245
01:29:47.039 --> 01:29:49.640
<v Speaker 1>likely you are to vote for socialist policies that redistribute

1246
01:29:49.640 --> 01:29:53.800
<v Speaker 1>the wealth that you have. So it's the other way around.

1247
01:29:53.960 --> 01:29:56.600
<v Speaker 1>It's the fact that the wealth in Europe isn't a

1248
01:29:56.680 --> 01:30:05.560
<v Speaker 1>generational makes them feel more guilty about it. The bebo socialists, right,

1249
01:30:06.000 --> 01:30:11.079
<v Speaker 1>will a Grave. I'd like to see future talk on

1250
01:30:11.159 --> 01:30:15.439
<v Speaker 1>the new EU regulations called DSU created under the pretense

1251
01:30:15.479 --> 01:30:20.319
<v Speaker 1>of protecting children online, lots of subjective rules, trusted in

1252
01:30:20.439 --> 01:30:26.520
<v Speaker 1>flagger accounts for EU appointees and disinformation. I will look

1253
01:30:26.520 --> 01:30:30.039
<v Speaker 1>at that. The challenge, of course with the EU and

1254
01:30:30.119 --> 01:30:33.720
<v Speaker 1>keeping track is just the extent of the bad regulations

1255
01:30:33.720 --> 01:30:35.439
<v Speaker 1>that they have. I mean, they are just all over

1256
01:30:35.439 --> 01:30:41.359
<v Speaker 1>the place with bad regulations, and you know, it's it's

1257
01:30:41.399 --> 01:30:43.800
<v Speaker 1>just hard to keep track. But I will, I promise

1258
01:30:44.239 --> 01:30:47.239
<v Speaker 1>I will take a look at this particular one, you know,

1259
01:30:47.279 --> 01:30:50.760
<v Speaker 1>together with any other ones you guys flag. But yes,

1260
01:30:50.920 --> 01:30:54.079
<v Speaker 1>I don't quite pay as much attention to Europe as

1261
01:30:54.079 --> 01:30:56.840
<v Speaker 1>they do to the US, partially because it's so hard,

1262
01:30:56.920 --> 01:31:00.319
<v Speaker 1>because they do so much crap, so many bad things,

1263
01:31:00.920 --> 01:31:05.159
<v Speaker 1>and so much of it is done under the guise

1264
01:31:05.199 --> 01:31:08.359
<v Speaker 1>of paternalism. Europe is much more paternalistic in that sense

1265
01:31:08.399 --> 01:31:11.399
<v Speaker 1>than the US. But the US is pretty paternalistic too,

1266
01:31:11.479 --> 01:31:15.399
<v Speaker 1>quite a bit, uh, you know, But it mostly is

1267
01:31:15.439 --> 01:31:18.800
<v Speaker 1>just a power grab and an attempt to control our

1268
01:31:18.840 --> 01:31:24.880
<v Speaker 1>lives and the lives of business. Cyrus JMG for what

1269
01:31:24.960 --> 01:31:28.520
<v Speaker 1>I've seen, Gaza shows both deep poverty, tense slums and

1270
01:31:28.520 --> 01:31:31.560
<v Speaker 1>signs of normal life shops, bakeries. Cause is there a

1271
01:31:31.600 --> 01:31:35.680
<v Speaker 1>class structure And while Gaza rules officially are warlords of

1272
01:31:35.760 --> 01:31:40.720
<v Speaker 1>factions using jahamasus officially are warlords and factions those in control. Okay,

1273
01:31:40.720 --> 01:31:44.840
<v Speaker 1>so a few things. One, Gaza right now is mostly

1274
01:31:44.880 --> 01:31:47.920
<v Speaker 1>in ruins. So if you look at area photographs of

1275
01:31:47.920 --> 01:31:53.159
<v Speaker 1>Gaza right now, most of the buildings, a significant majority

1276
01:31:53.159 --> 01:31:56.520
<v Speaker 1>of the buildings have been flattened. Gaza today is rubble.

1277
01:31:57.760 --> 01:32:02.119
<v Speaker 1>So the places where the idea has been too and

1278
01:32:02.159 --> 01:32:05.239
<v Speaker 1>the places where the idea is bombed are basically have

1279
01:32:05.359 --> 01:32:10.119
<v Speaker 1>basically been destroyed completely. And if you lived in those places,

1280
01:32:10.680 --> 01:32:13.239
<v Speaker 1>you have to either live in tense or you're living

1281
01:32:13.439 --> 01:32:17.319
<v Speaker 1>among the rubble. And it looks that way. On the

1282
01:32:17.319 --> 01:32:21.039
<v Speaker 1>other hand, areas where the idea of has not been

1283
01:32:21.119 --> 01:32:23.920
<v Speaker 1>to and maybe the idea is not bombed because of

1284
01:32:24.000 --> 01:32:28.439
<v Speaker 1>fear that the hostages might be there. They're the ones

1285
01:32:28.920 --> 01:32:34.000
<v Speaker 1>where there's relatively normal life. They are using the hostages

1286
01:32:34.000 --> 01:32:37.399
<v Speaker 1>as human shields. They're also using their own civilian population

1287
01:32:37.439 --> 01:32:41.159
<v Speaker 1>as human shields to prevent the idea from destroying the

1288
01:32:41.159 --> 01:32:46.479
<v Speaker 1>buildings there. But the Gazza looks like dress and did

1289
01:32:46.520 --> 01:32:50.880
<v Speaker 1>after bombing. It's been flattened, or like Tokyo, it's been

1290
01:32:50.920 --> 01:32:53.319
<v Speaker 1>flattened much of it. Now there is a portion that

1291
01:32:53.399 --> 01:32:57.720
<v Speaker 1>hasn't and that's where you see relatively normal life in

1292
01:32:57.840 --> 01:33:01.119
<v Speaker 1>terms of now. Always the crass structure. There was not

1293
01:33:01.159 --> 01:33:02.960
<v Speaker 1>so much a class structure, but the were poor and

1294
01:33:03.039 --> 01:33:09.840
<v Speaker 1>rich in Gaza. The rich tended to be first of

1295
01:33:09.840 --> 01:33:16.720
<v Speaker 1>all hamas officials, people in governments. Second, people who always

1296
01:33:16.800 --> 01:33:20.840
<v Speaker 1>lived in Gaza, so families that have a long history

1297
01:33:20.840 --> 01:33:24.159
<v Speaker 1>in Gaza, versus the people who are kept in poverty,

1298
01:33:25.039 --> 01:33:27.319
<v Speaker 1>the so called refugees, people who might have lived in

1299
01:33:27.319 --> 01:33:30.600
<v Speaker 1>what is now Israel and ran away from that in

1300
01:33:30.680 --> 01:33:35.239
<v Speaker 1>nineteen forty eight, So refugees from seventy something years ago,

1301
01:33:36.159 --> 01:33:40.680
<v Speaker 1>seventy seven years ago who have never been accepted into

1302
01:33:40.680 --> 01:33:43.560
<v Speaker 1>Arab society, including in the West Bank and Gaza, and

1303
01:33:43.560 --> 01:33:47.920
<v Speaker 1>had been kept as refugees in poverty and in shanty

1304
01:33:47.960 --> 01:33:50.439
<v Speaker 1>towns and so on. So in that sense there's a

1305
01:33:50.439 --> 01:33:55.239
<v Speaker 1>class structure. And then finally Hamastazrul officially all warloads and

1306
01:33:55.279 --> 01:33:58.640
<v Speaker 1>factions those in control. Yes, there are warlords. There a

1307
01:33:58.760 --> 01:34:04.720
<v Speaker 1>variety of warlords, gangs basically organized criminal gangs that are

1308
01:34:04.720 --> 01:34:08.239
<v Speaker 1>also stealing food. And one of the gangs in the

1309
01:34:08.279 --> 01:34:12.319
<v Speaker 1>south in Rafa is actually working with the Israelis UH

1310
01:34:12.359 --> 01:34:16.000
<v Speaker 1>and they are actually protecting food convoys and helping these

1311
01:34:16.079 --> 01:34:20.199
<v Speaker 1>Raelis and they're anti Haramas. There are other gangs out

1312
01:34:20.199 --> 01:34:21.760
<v Speaker 1>there that are anti Haramas, and some of them are

1313
01:34:21.800 --> 01:34:25.279
<v Speaker 1>pro Hamas, but yes, they're definitely. Once you have a

1314
01:34:25.279 --> 01:34:27.800
<v Speaker 1>place like this where Ramas cannot rule the whole place,

1315
01:34:28.439 --> 01:34:31.520
<v Speaker 1>and where there's anarchy and where there's weapons everywhere, you're

1316
01:34:31.520 --> 01:34:35.319
<v Speaker 1>gonna have gangs and you're gonna have factions fighting over stuff.

1317
01:34:35.760 --> 01:34:38.640
<v Speaker 1>But Tramas is the biggest gang of all of them.

1318
01:34:41.239 --> 01:34:46.239
<v Speaker 1>Liam are there certain levels of authoritarian control Mixed economies

1319
01:34:46.279 --> 01:34:49.479
<v Speaker 1>won't tolerate. Even the Chinese are used to being pushed

1320
01:34:49.520 --> 01:34:53.039
<v Speaker 1>around once she out because they have reached mixed economy,

1321
01:34:53.079 --> 01:34:55.840
<v Speaker 1>middle class level of comfort. Yeah, I mean you saw

1322
01:34:55.880 --> 01:35:00.720
<v Speaker 1>that with the with the real demonstrations, real differents, sizeable

1323
01:35:00.760 --> 01:35:05.880
<v Speaker 1>demonstrations in China during the COVID lockdowns or towards the

1324
01:35:06.000 --> 01:35:07.960
<v Speaker 1>end of the COVID lockdowns. Where was it twenty twenty two,

1325
01:35:08.239 --> 01:35:10.960
<v Speaker 1>twenty twenty three, wasn't it into twenty twenty three? I think?

1326
01:35:12.239 --> 01:35:15.000
<v Speaker 1>And she had to had to cave, He had to

1327
01:35:15.039 --> 01:35:17.600
<v Speaker 1>open up the economy in spite of up until that

1328
01:35:17.640 --> 01:35:21.720
<v Speaker 1>he had refused to do so because of all the demonstrations. So, yes,

1329
01:35:21.760 --> 01:35:27.199
<v Speaker 1>there certain level of authoritarian controls, and that will increase

1330
01:35:27.680 --> 01:35:30.319
<v Speaker 1>the desire people to be free, increase their willingness to

1331
01:35:30.319 --> 01:35:33.880
<v Speaker 1>take risks, their willingness to rebel against the authorities. And

1332
01:35:33.960 --> 01:35:38.520
<v Speaker 1>I think that China is experiencing that to some extent. Unfortunately,

1333
01:35:38.640 --> 01:35:44.319
<v Speaker 1>for example, Iran is not yet experiencing that.

1334
01:35:45.000 --> 01:35:45.960
<v Speaker 2>And it you.

1335
01:35:45.920 --> 01:35:49.760
<v Speaker 1>Know, we haven't seen it do anything substantial in real

1336
01:35:49.760 --> 01:35:52.800
<v Speaker 1>authoritarian regimes like China and Iran, So we haven't seen

1337
01:35:52.840 --> 01:35:57.199
<v Speaker 1>a regime fall. We haven't seen she kicked out. Now,

1338
01:35:57.319 --> 01:35:59.640
<v Speaker 1>maybe that's coming later the summer, early in the fall.

1339
01:35:59.720 --> 01:36:03.159
<v Speaker 1>I don't no, but it hasn't happened yet. And it's

1340
01:36:03.159 --> 01:36:07.640
<v Speaker 1>hard to tell what the Chinese will choose to do. Andrew,

1341
01:36:08.439 --> 01:36:11.960
<v Speaker 1>whether personality or politically, can you explain how the application

1342
01:36:12.079 --> 01:36:16.159
<v Speaker 1>of the virtue of independence doesn't mean alienation from or

1343
01:36:16.279 --> 01:36:21.840
<v Speaker 1>position to others? Per se yeah. I mean you have

1344
01:36:21.880 --> 01:36:25.960
<v Speaker 1>to think about what independence really means, and dependence really

1345
01:36:26.039 --> 01:36:30.359
<v Speaker 1>means is using your mind. It really means making decisions

1346
01:36:30.439 --> 01:36:35.960
<v Speaker 1>for yourself. It really means that your mind is responsible

1347
01:36:36.039 --> 01:36:38.840
<v Speaker 1>for your decision about what is true and what is not,

1348
01:36:39.800 --> 01:36:43.119
<v Speaker 1>what you should do and what you shouldn't do. And

1349
01:36:43.319 --> 01:36:47.159
<v Speaker 1>that does not mean you don't deal with experts. It

1350
01:36:47.199 --> 01:36:49.800
<v Speaker 1>doesn't mean you don't get advice. It doesn't mean you

1351
01:36:49.880 --> 01:36:52.760
<v Speaker 1>don't go to the doctor, the dentist to get expertise.

1352
01:36:53.439 --> 01:36:56.119
<v Speaker 1>But it means that even in there, if a doctor

1353
01:36:56.159 --> 01:36:59.479
<v Speaker 1>gives you a diagnosis, you need to figure out if

1354
01:36:59.479 --> 01:37:01.600
<v Speaker 1>it makes sense to you. You need potentially to get

1355
01:37:01.600 --> 01:37:04.560
<v Speaker 1>a second opinion. You need to do some online research.

1356
01:37:04.600 --> 01:37:08.039
<v Speaker 1>You need to make to make sure you are making

1357
01:37:08.079 --> 01:37:10.920
<v Speaker 1>a decision that's educated. You need asked Adoctor a lot

1358
01:37:10.960 --> 01:37:16.680
<v Speaker 1>of questions. It's your life, is your responsibility. It's your

1359
01:37:16.680 --> 01:37:19.760
<v Speaker 1>responsibility to use your mind to make decisions. That does

1360
01:37:19.800 --> 01:37:23.560
<v Speaker 1>not have any implications about being other people. I mean

1361
01:37:23.600 --> 01:37:26.880
<v Speaker 1>implication is you shouldn't be a secondhander. You shouldn't just

1362
01:37:26.880 --> 01:37:29.600
<v Speaker 1>follow other people. You shouldn't do what they say blindly.

1363
01:37:29.840 --> 01:37:33.800
<v Speaker 1>You shouldn't join tribes, you shouldn't join collectives. But should

1364
01:37:33.840 --> 01:37:36.600
<v Speaker 1>you trade with other people? Should you interact with other

1365
01:37:36.600 --> 01:37:40.279
<v Speaker 1>people from mutual benefit? Well, absolutely, as long as you're

1366
01:37:40.279 --> 01:37:47.000
<v Speaker 1>doing it on your terms. So there's just nothing, nothing

1367
01:37:48.119 --> 01:37:51.560
<v Speaker 1>in the virtue of independence that suggests Jeff to isolate

1368
01:37:51.600 --> 01:37:54.760
<v Speaker 1>yours of Quite the contrary. Virtual independence gets you to

1369
01:37:54.800 --> 01:37:57.439
<v Speaker 1>think about the value of trade, the value of other

1370
01:37:57.520 --> 01:37:59.800
<v Speaker 1>human beings, the value of friendship, the love you, value

1371
01:37:59.840 --> 01:38:04.600
<v Speaker 1>of the value of sex, and all those suggest not

1372
01:38:04.680 --> 01:38:09.880
<v Speaker 1>living alone but interacting with other people. So it practice properly.

1373
01:38:10.680 --> 01:38:12.159
<v Speaker 1>You want to be with other people, You want to

1374
01:38:12.159 --> 01:38:14.119
<v Speaker 1>engage with other people. You want to gain the values

1375
01:38:14.159 --> 01:38:17.199
<v Speaker 1>that other people represent for you and can provide.

1376
01:38:16.880 --> 01:38:17.520
<v Speaker 2>You through trade.

1377
01:38:20.119 --> 01:38:24.520
<v Speaker 1>Thank you, Andrew James. Doctor Mike Israel did a video

1378
01:38:24.600 --> 01:38:28.279
<v Speaker 1>on Mike Mensa while he had some critiques of objectivism.

1379
01:38:28.279 --> 01:38:29.840
<v Speaker 2>In the video, he said he's.

1380
01:38:29.680 --> 01:38:33.159
<v Speaker 1>A big iy Ran fan. If there's a way you

1381
01:38:33.199 --> 01:38:36.039
<v Speaker 1>could get him on the show, that would be amazing.

1382
01:38:36.920 --> 01:38:39.239
<v Speaker 2>Yeah, I'm going to try.

1383
01:38:40.159 --> 01:38:42.800
<v Speaker 1>I'm going to try. I think I tried reaching out

1384
01:38:42.840 --> 01:38:47.239
<v Speaker 1>and I didn't get any response from him. I also

1385
01:38:47.279 --> 01:38:49.000
<v Speaker 1>want to see what is you know, what kind of

1386
01:38:49.000 --> 01:38:51.720
<v Speaker 1>critiques he has of iin RAND because I don't want

1387
01:38:51.720 --> 01:38:56.319
<v Speaker 1>to beg him on the show without addressing those critiques.

1388
01:38:56.800 --> 01:38:58.159
<v Speaker 1>And yet I don't want to get into a fight

1389
01:38:58.199 --> 01:38:59.920
<v Speaker 1>with a guest on the show. So let me see

1390
01:39:00.079 --> 01:39:08.800
<v Speaker 1>exactly what is involved. Dean, Dave, Dean, thank you, thank you,

1391
01:39:08.840 --> 01:39:11.880
<v Speaker 1>thank you. They've just came in with another fifty dollars sticker.

1392
01:39:12.039 --> 01:39:16.520
<v Speaker 1>It makes one hundred dollars, Thank you, Dave Andrew. When

1393
01:39:16.600 --> 01:39:20.479
<v Speaker 1>lefties say they feel unsafe in response to speech, I

1394
01:39:20.479 --> 01:39:23.560
<v Speaker 1>don't doubt that they do feel it, although it's despicable

1395
01:39:23.760 --> 01:39:25.880
<v Speaker 1>that the answer is for others to be silent. How

1396
01:39:25.920 --> 01:39:31.600
<v Speaker 1>does that phenomena intersect with motivation by fear? Well, I mean,

1397
01:39:32.359 --> 01:39:36.439
<v Speaker 1>I think that the feeling unsafe from speech is basically

1398
01:39:37.640 --> 01:39:40.960
<v Speaker 1>a result of the fear that they have. Fear that

1399
01:39:41.000 --> 01:39:44.359
<v Speaker 1>they have generally metaphysical kind of fear, because speech does

1400
01:39:44.399 --> 01:39:49.840
<v Speaker 1>not threaten them, if it's just speech. It's also the

1401
01:39:49.880 --> 01:39:56.359
<v Speaker 1>case that remember that they have been raised on valuing

1402
01:39:56.399 --> 01:40:03.600
<v Speaker 1>their emotions more than anything else, and when you elevate

1403
01:40:03.640 --> 01:40:10.199
<v Speaker 1>emotions above all else, when you elevated emotions above all else,

1404
01:40:11.159 --> 01:40:17.239
<v Speaker 1>then fear is all you're left with. Because emotions will

1405
01:40:17.279 --> 01:40:20.640
<v Speaker 1>not tell you how the world works. Emotions will not

1406
01:40:20.760 --> 01:40:24.319
<v Speaker 1>tell you what good and bad is. Emotions will not

1407
01:40:24.439 --> 01:40:27.000
<v Speaker 1>tell you if to cross the street now or not,

1408
01:40:28.439 --> 01:40:33.399
<v Speaker 1>so you face the world bewildered without any knowledge because

1409
01:40:33.439 --> 01:40:38.239
<v Speaker 1>emotions don't give you knowledge suddenly, not knowledge about the

1410
01:40:38.239 --> 01:40:44.000
<v Speaker 1>outside world. So you are you know you. The emotion

1411
01:40:44.119 --> 01:40:52.720
<v Speaker 1>that comes to dominate is the emotion of fear. What's

1412
01:40:52.760 --> 01:40:59.359
<v Speaker 1>going on Here'll say, something got screwed up here weird?

1413
01:41:01.640 --> 01:41:15.680
<v Speaker 1>Huh night, Uh sorry the uh something w g went

1414
01:41:15.720 --> 01:41:23.159
<v Speaker 1>weird on my web page. Kay, All the questions are

1415
01:41:23.199 --> 01:41:36.359
<v Speaker 1>back up and they're covering each other up. Okay, sorry

1416
01:41:36.439 --> 01:41:46.000
<v Speaker 1>what I'm saying. So, as I said, I, you know,

1417
01:41:46.039 --> 01:41:49.439
<v Speaker 1>I think that's connection. The connection is that fear leads

1418
01:41:49.479 --> 01:41:55.439
<v Speaker 1>to then emotionalism leads to fear, and then they fear

1419
01:41:55.680 --> 01:41:58.000
<v Speaker 1>everything around them. And they of course they've part of

1420
01:41:58.039 --> 01:42:02.560
<v Speaker 1>that is they fear. They fear.

1421
01:42:03.920 --> 01:42:07.079
<v Speaker 2>The things that people say to them.

1422
01:42:07.079 --> 01:42:12.840
<v Speaker 1>They fear bad ideas that they don't understand. All right,

1423
01:42:12.960 --> 01:42:16.079
<v Speaker 1>Zachary switch to a career in programming about three and

1424
01:42:16.119 --> 01:42:18.520
<v Speaker 1>a half years ago. I've been at a major US

1425
01:42:18.560 --> 01:42:22.239
<v Speaker 1>retailer as a software engineers incetent. Yesterday I got promoted

1426
01:42:22.279 --> 01:42:24.920
<v Speaker 1>to the next level, including a nice raise, thank you

1427
01:42:24.960 --> 01:42:27.039
<v Speaker 1>for your guidance, zachtarly cool.

1428
01:42:27.159 --> 01:42:28.479
<v Speaker 2>I'm really happy for you.

1429
01:42:28.960 --> 01:42:32.000
<v Speaker 1>That is fantastic, and of course it's my pleasure if

1430
01:42:32.039 --> 01:42:34.279
<v Speaker 1>you got something out of me that inspired you to

1431
01:42:34.319 --> 01:42:38.479
<v Speaker 1>do all that. Let me just make sure that I

1432
01:42:38.520 --> 01:42:44.239
<v Speaker 1>got yes, all right. The profit also asks, oh, maybe

1433
01:42:44.239 --> 01:42:47.159
<v Speaker 1>this was a continuation to the one before adding percentage

1434
01:42:47.279 --> 01:42:50.880
<v Speaker 1>might beforeio question from the other day, Call Global fifty

1435
01:42:50.920 --> 01:42:56.880
<v Speaker 1>percent value tilt, twenty percent, emerging markets fifteen percent, tech

1436
01:42:57.000 --> 01:43:00.840
<v Speaker 1>seven percent, biotech three percent, gold five percent to out

1437
01:43:00.880 --> 01:43:04.439
<v Speaker 1>real estate. Yeah, that looks about right. I mean, I

1438
01:43:04.560 --> 01:43:10.279
<v Speaker 1>like that portfolio. I don't know if the value tilt

1439
01:43:10.079 --> 01:43:13.439
<v Speaker 1>is a US value tilt to a global value tilt,

1440
01:43:13.840 --> 01:43:18.000
<v Speaker 1>but I generally like that it gives you. It gives

1441
01:43:18.039 --> 01:43:20.720
<v Speaker 1>you some biotech in tech exposure that's about ten percent

1442
01:43:21.239 --> 01:43:25.039
<v Speaker 1>and which you market fifteen You know, I don't know

1443
01:43:25.079 --> 01:43:30.359
<v Speaker 1>what's in co Global. I might go to forty percent

1444
01:43:30.399 --> 01:43:34.359
<v Speaker 1>co Global and put up thirty percent into the value tilt,

1445
01:43:34.800 --> 01:43:37.840
<v Speaker 1>given that you've you've got biotech in tech there. That

1446
01:43:37.880 --> 01:43:39.640
<v Speaker 1>would be the only change I would make if I

1447
01:43:39.720 --> 01:43:42.159
<v Speaker 1>was gonna do it. But of course, nothing I say

1448
01:43:42.159 --> 01:43:47.039
<v Speaker 1>here is investment advice. I just think value is really

1449
01:43:47.079 --> 01:43:50.359
<v Speaker 1>cheap right now has mean for a long time. It's

1450
01:43:50.439 --> 01:43:55.520
<v Speaker 1>underperformed for a long time, and usually there's mean reversion,

1451
01:43:55.640 --> 01:43:59.640
<v Speaker 1>so usually it overperforms. And I think in a period

1452
01:43:59.640 --> 01:44:04.159
<v Speaker 1>of stake nation, which I think we're heading towards, uh,

1453
01:44:04.920 --> 01:44:07.880
<v Speaker 1>there's a good chance that value out performs, not does well,

1454
01:44:07.920 --> 01:44:13.439
<v Speaker 1>but outperforms kind of broadly speaking, growth, even though tech

1455
01:44:13.520 --> 01:44:15.920
<v Speaker 1>might do well and biotech might do well, biotech and

1456
01:44:15.960 --> 01:44:19.560
<v Speaker 1>tech is basically for the for the possibility of of

1457
01:44:19.560 --> 01:44:23.479
<v Speaker 1>of you know, things going really really well. That's why

1458
01:44:23.560 --> 01:44:28.680
<v Speaker 1>only thinking, But basically I think you've got it right, Daniel,

1459
01:44:29.119 --> 01:44:32.640
<v Speaker 1>I built automated machinery for a living. Nearly all the

1460
01:44:32.720 --> 01:44:36.640
<v Speaker 1>materials and parts are imported, and that's for American manufacturing.

1461
01:44:37.159 --> 01:44:41.159
<v Speaker 1>The male laths and tooling are built all over the world. Yeah,

1462
01:44:41.279 --> 01:44:46.359
<v Speaker 1>I mean that's the reality. And that's why these these

1463
01:44:46.359 --> 01:44:50.279
<v Speaker 1>tasks are so dumb, stupid and evil. Really, they're really

1464
01:44:50.319 --> 01:44:52.840
<v Speaker 1>im all. This is really really immoral what he's doing,

1465
01:44:53.079 --> 01:44:55.359
<v Speaker 1>And it just makes no sense. There's no thinking, there's

1466
01:44:55.359 --> 01:44:59.960
<v Speaker 1>no strategy, there's no economics. Daniels, Do the bank is

1467
01:45:00.119 --> 01:45:03.119
<v Speaker 1>have to bake the cake? Do the bankers have to

1468
01:45:03.159 --> 01:45:08.319
<v Speaker 1>bake the cake? Well? They do, and then Trump takes

1469
01:45:08.319 --> 01:45:12.840
<v Speaker 1>a slice for himself without paying for it. That Dodo will,

1470
01:45:12.960 --> 01:45:15.800
<v Speaker 1>and regulators take up even biggest lives that Dudo bunny.

1471
01:45:16.359 --> 01:45:23.199
<v Speaker 1>Do specialists change a culture faster than generalists in terms

1472
01:45:23.199 --> 01:45:29.800
<v Speaker 1>of philosophy, in terms of ideas, No, I mean you

1473
01:45:29.840 --> 01:45:31.840
<v Speaker 1>need both, and you need both at the same time.

1474
01:45:31.920 --> 01:45:36.600
<v Speaker 1>And the ultimate generalist are the philosophers. And the ultimate

1475
01:45:36.640 --> 01:45:39.720
<v Speaker 1>generalist here is Iman. So in a sense, you've got

1476
01:45:39.720 --> 01:45:45.439
<v Speaker 1>the generalist Iman the philosopher. You've got a philosophy. And

1477
01:45:45.520 --> 01:45:48.600
<v Speaker 1>now what you need as specialist to apply it, apply it,

1478
01:45:48.640 --> 01:45:50.600
<v Speaker 1>apply it, apply it, apply it, apply it, apply it

1479
01:45:50.880 --> 01:45:54.479
<v Speaker 1>so that people can start seeing connection between things and

1480
01:45:54.560 --> 01:45:59.119
<v Speaker 1>connecting it to that philosophy, to those ideas. So what

1481
01:45:59.199 --> 01:46:02.760
<v Speaker 1>you need is a bunch of specialists, not one specialist.

1482
01:46:02.800 --> 01:46:03.600
<v Speaker 1>He can't change the world.

1483
01:46:04.039 --> 01:46:06.279
<v Speaker 2>You need a bunch of specialists.

1484
01:46:07.119 --> 01:46:15.399
<v Speaker 1>In a sense. Uh, you know, leveraging the generalists, leveraging

1485
01:46:15.439 --> 01:46:19.920
<v Speaker 1>the knowledge of the generalists, the philosophy, the principles that

1486
01:46:19.920 --> 01:46:28.039
<v Speaker 1>they've gotten from philosophy andrew. A way one can mentally

1487
01:46:28.079 --> 01:46:34.000
<v Speaker 1>transport to a benevolent culture period is through observing its artwork. Yes,

1488
01:46:34.119 --> 01:46:42.439
<v Speaker 1>I mean art is a way to experience a different,

1489
01:46:43.880 --> 01:46:47.159
<v Speaker 1>a different time, a different sense of you know, and

1490
01:46:47.520 --> 01:46:51.159
<v Speaker 1>to reinforce the positive sense of life that hopefully you

1491
01:46:51.279 --> 01:46:55.119
<v Speaker 1>have the positives within yourself of life, and to experience

1492
01:46:55.199 --> 01:46:58.600
<v Speaker 1>other cultures, other worlds in which life was more benevolent.

1493
01:47:00.279 --> 01:47:01.079
<v Speaker 2>I don't know if you've.

1494
01:47:04.039 --> 01:47:08.479
<v Speaker 1>I just thinking of an author and his name slipped

1495
01:47:08.520 --> 01:47:09.640
<v Speaker 1>my mind. Okay, maybe it'll.

1496
01:47:09.479 --> 01:47:11.439
<v Speaker 2>Come back, Harper Campbell.

1497
01:47:11.960 --> 01:47:14.840
<v Speaker 1>All these tarifts solely about market manipulation and inside of

1498
01:47:14.880 --> 01:47:18.479
<v Speaker 1>trading to make all of Trump's loyalists rich. That's why

1499
01:47:18.520 --> 01:47:22.439
<v Speaker 1>he doesn't want to negotiate away these tarffs. No, I

1500
01:47:22.439 --> 01:47:24.800
<v Speaker 1>mean there's some of that suddenly, to some of that,

1501
01:47:24.840 --> 01:47:28.680
<v Speaker 1>and primarily just to make him feel powerful and to

1502
01:47:28.920 --> 01:47:33.359
<v Speaker 1>have the world leaders come and gravel and to have

1503
01:47:33.439 --> 01:47:35.920
<v Speaker 1>businessmen come and gravel for favors. That's a big part

1504
01:47:35.920 --> 01:47:39.279
<v Speaker 1>of it. But no, it's it's a real hatred of taris.

1505
01:47:39.359 --> 01:47:41.439
<v Speaker 1>It's a real hatred of trade. Sorry to hell, hatred

1506
01:47:41.439 --> 01:47:44.479
<v Speaker 1>of trade. I know it's hard to believe, but Trump

1507
01:47:44.560 --> 01:47:46.279
<v Speaker 1>really has a zero some view of the world.

1508
01:47:46.560 --> 01:47:49.920
<v Speaker 2>He really believes trade deficits are bad. He really believes,

1509
01:47:50.800 --> 01:47:54.800
<v Speaker 2>you know, uh, what do you call it? Tariffs are good.

1510
01:47:55.279 --> 01:47:59.159
<v Speaker 1>He can't explain in a rational logical way why they're good,

1511
01:47:59.199 --> 01:48:04.319
<v Speaker 1>because they're not. Objectively, they're just not. But he hates them,

1512
01:48:05.000 --> 01:48:07.479
<v Speaker 1>so he acts on it. That's all it is. It's

1513
01:48:07.479 --> 01:48:12.560
<v Speaker 1>his personal hatred. He is a mook antilist. He has

1514
01:48:13.039 --> 01:48:19.600
<v Speaker 1>the economic knowledge of somebody from the seventeenth century, suddenly

1515
01:48:19.600 --> 01:48:24.640
<v Speaker 1>pre Adam Smith. As I said before, of a five

1516
01:48:24.720 --> 01:48:32.680
<v Speaker 1>year old James Zorn. Mamdani is more of a Marxist

1517
01:48:32.760 --> 01:48:37.319
<v Speaker 1>than a standard redistributionist. He did an interview calling for

1518
01:48:37.479 --> 01:48:41.000
<v Speaker 1>the abolishment of private property in order to provide universal housing.

1519
01:48:41.439 --> 01:48:42.279
<v Speaker 2>Can he be stopped?

1520
01:48:42.680 --> 01:48:44.800
<v Speaker 1>Yeah? I think he is more of a Marxist. He

1521
01:48:44.880 --> 01:48:49.199
<v Speaker 1>comes out of the kind of the Jacobean magazine, kind

1522
01:48:49.239 --> 01:48:54.199
<v Speaker 1>of part of the left, you know, less interested in woke,

1523
01:48:54.279 --> 01:48:59.039
<v Speaker 1>more interested in real Marxism, workers owning the means of production,

1524
01:48:59.239 --> 01:49:04.760
<v Speaker 1>type Marxism. Can he be stopped? I don't know. My

1525
01:49:04.880 --> 01:49:08.960
<v Speaker 1>guess is that if the three opposition candidates united around

1526
01:49:09.000 --> 01:49:13.159
<v Speaker 1>one candidate, that one candidate would win. But given the

1527
01:49:13.159 --> 01:49:15.399
<v Speaker 1>egos of the three people involved, I don't know that

1528
01:49:15.439 --> 01:49:20.800
<v Speaker 1>they will do that. Right, it's a current mayor Como

1529
01:49:21.039 --> 01:49:24.920
<v Speaker 1>and a Republican candidate. I mean they should choose one,

1530
01:49:25.239 --> 01:49:31.520
<v Speaker 1>and everybody else should quit. That's the way to stop him.

1531
01:49:32.720 --> 01:49:40.159
<v Speaker 1>But people in New Yorker's cool young New Yorkers, including

1532
01:49:40.399 --> 01:49:43.640
<v Speaker 1>the Jewish young new Yorkers, they hate Israel. They like

1533
01:49:43.720 --> 01:49:46.600
<v Speaker 1>that he's standing up against Israel. They hate capitalism, even

1534
01:49:46.640 --> 01:49:51.680
<v Speaker 1>though they're all making nice, really nice incomes off of

1535
01:49:52.479 --> 01:49:56.239
<v Speaker 1>the jobs that they have. They hate capitalism even though

1536
01:49:56.279 --> 01:49:59.159
<v Speaker 1>they love living in New York. But they don't like

1537
01:49:59.159 --> 01:50:01.199
<v Speaker 1>paying a high price for living in New York. They

1538
01:50:01.279 --> 01:50:06.079
<v Speaker 1>want Iowa prices and still live in New York. They

1539
01:50:06.119 --> 01:50:09.119
<v Speaker 1>think socialism would give them that, and they're just not thinking.

1540
01:50:09.159 --> 01:50:11.399
<v Speaker 1>They're not thinking the I mean taught to think. They

1541
01:50:11.399 --> 01:50:14.880
<v Speaker 1>have the mentality of, you know, an emotionalistic five year

1542
01:50:14.920 --> 01:50:19.359
<v Speaker 1>old join the club, not to have a joagorhithm. Every

1543
01:50:19.399 --> 01:50:21.960
<v Speaker 1>time the idea of gets closer to defeating evil, the

1544
01:50:22.039 --> 01:50:26.399
<v Speaker 1>media gets louder with lies. Yeah, the lies are constant.

1545
01:50:27.279 --> 01:50:31.960
<v Speaker 1>They basically the sympathies of the media with tramas. They

1546
01:50:32.319 --> 01:50:36.279
<v Speaker 1>stage photos, they lie about photos, they lie about information

1547
01:50:36.359 --> 01:50:40.239
<v Speaker 1>that they have the reporters on the ground or programas.

1548
01:50:41.960 --> 01:50:44.039
<v Speaker 1>So it's very hard even for editors who don't want

1549
01:50:44.079 --> 01:50:46.399
<v Speaker 1>to be programas to filter and figure out what's true

1550
01:50:46.479 --> 01:50:50.279
<v Speaker 1>what's not. I mean, the world is programas because the

1551
01:50:50.279 --> 01:50:54.840
<v Speaker 1>world is altruistic, almost everybody's programas. Michael Destiny is on

1552
01:50:54.880 --> 01:50:57.560
<v Speaker 1>a cross country anti Trump tour, definitely worth trying to

1553
01:50:57.600 --> 01:50:59.920
<v Speaker 1>do a live event with him. I'll try it, but

1554
01:51:00.000 --> 01:51:02.359
<v Speaker 1>I have to have a schedule first, because I can't

1555
01:51:02.399 --> 01:51:04.199
<v Speaker 1>just say I'm going to do it and then not

1556
01:51:04.359 --> 01:51:08.600
<v Speaker 1>do it. And you know, given where I am, I'll

1557
01:51:08.600 --> 01:51:15.680
<v Speaker 1>see if I can walk something else, blaze guitar lessons.

1558
01:51:15.680 --> 01:51:19.920
<v Speaker 1>What would you say Thomas Soul was wrong about? Oh,

1559
01:51:20.079 --> 01:51:22.880
<v Speaker 1>I don't know enough about all of Thomas OL's writings,

1560
01:51:23.640 --> 01:51:28.119
<v Speaker 1>but he's wrong about Christianity. He's wrong about economics being

1561
01:51:28.119 --> 01:51:34.359
<v Speaker 1>the science a science that deals with scarcity. He's wrong

1562
01:51:34.439 --> 01:51:37.079
<v Speaker 1>about I think he's I don't the term scarcity should

1563
01:51:37.079 --> 01:51:43.319
<v Speaker 1>not be applied to economics, although everybody does. He's he's

1564
01:51:43.479 --> 01:51:46.239
<v Speaker 1>wrong for not being totally lafay.

1565
01:51:48.079 --> 01:51:49.560
<v Speaker 2>He's not all out one hundred percent.

1566
01:51:50.279 --> 01:51:55.159
<v Speaker 1>He on sudden issues suggests that government should get involved.

1567
01:51:56.319 --> 01:51:58.199
<v Speaker 1>But I don't you know, I'd have to have to

1568
01:51:58.520 --> 01:52:03.560
<v Speaker 1>go flip through my Thomasoul books to remember which ones exactly.

1569
01:52:03.600 --> 01:52:07.239
<v Speaker 1>Those are the things that come to mind Christianity and

1570
01:52:07.239 --> 01:52:11.680
<v Speaker 1>their f altruism not one hundred percent less a fair

1571
01:52:13.520 --> 01:52:17.039
<v Speaker 1>and economics not being about scarcity. It's the economics is

1572
01:52:17.079 --> 01:52:24.239
<v Speaker 1>a study of production and trade. All values must be produced,

1573
01:52:24.439 --> 01:52:28.000
<v Speaker 1>that is the essence, and not or they're scarce scarce.

1574
01:52:29.479 --> 01:52:34.359
<v Speaker 1>You know, if you define scarcity right, it's true. But

1575
01:52:34.880 --> 01:52:39.960
<v Speaker 1>the problem is nobody holds it right. Blaze guitar lessons.

1576
01:52:40.000 --> 01:52:43.399
<v Speaker 1>How would you debate some about China's economy. I don't

1577
01:52:43.479 --> 01:52:49.920
<v Speaker 1>understand the question. What does it mean debates some? I

1578
01:52:49.960 --> 01:52:52.800
<v Speaker 1>mean is the question of why Chinese economy is doing

1579
01:52:52.880 --> 01:52:55.520
<v Speaker 1>relatively well or done relatively well in the last forty years.

1580
01:52:55.800 --> 01:52:58.720
<v Speaker 1>I'd say because they liberalized, because they opened up the economy,

1581
01:52:58.760 --> 01:53:01.199
<v Speaker 1>and those parts that will opened up, those parts of

1582
01:53:01.319 --> 01:53:04.399
<v Speaker 1>liberalized have done phenomenally well. And I could give lots

1583
01:53:04.399 --> 01:53:08.760
<v Speaker 1>of examples of that. So the state sector, the area

1584
01:53:08.800 --> 01:53:11.479
<v Speaker 1>where the state is involved, has not done well. It's

1585
01:53:11.520 --> 01:53:14.079
<v Speaker 1>not done anywhere near well. Most of the wealth, most

1586
01:53:14.119 --> 01:53:19.119
<v Speaker 1>of the employment has been created in those areas of

1587
01:53:19.159 --> 01:53:25.520
<v Speaker 1>the economy that were that are in the private sector

1588
01:53:26.239 --> 01:53:31.399
<v Speaker 1>versus those that are state controlled. And they had a

1589
01:53:31.479 --> 01:53:37.359
<v Speaker 1>huge boom in tech when they left tech alone. When

1590
01:53:37.399 --> 01:53:41.399
<v Speaker 1>they left tech free, which was in the two thousands

1591
01:53:41.800 --> 01:53:46.399
<v Speaker 1>until about really until about twenty eighteen twenty nineteen, and

1592
01:53:46.479 --> 01:53:50.119
<v Speaker 1>tech flourished in China, and I think I think it's

1593
01:53:50.159 --> 01:53:55.039
<v Speaker 1>stagnated since relatively speaking, Brian, I'm one hundred percent of

1594
01:53:55.119 --> 01:53:59.640
<v Speaker 1>zero US tariffs. The US might lose leverage to negotiate

1595
01:53:59.680 --> 01:54:02.439
<v Speaker 1>low time and US goods. But since government should not

1596
01:54:02.479 --> 01:54:05.640
<v Speaker 1>be in a business of negotiating any trade policy, should

1597
01:54:05.720 --> 01:54:06.880
<v Speaker 1>we care. No.

1598
01:54:07.000 --> 01:54:08.079
<v Speaker 2>I agree with you completely.

1599
01:54:08.399 --> 01:54:12.199
<v Speaker 1>I'm for zero tariffs, and I actually think that ultimately

1600
01:54:12.399 --> 01:54:14.079
<v Speaker 1>people would learn from example and they.

1601
01:54:13.960 --> 01:54:16.520
<v Speaker 2>Would reduce tauts too. We shouldn't care.

1602
01:54:17.399 --> 01:54:20.760
<v Speaker 1>I mean, it would be nice if everybody had zero towers.

1603
01:54:21.800 --> 01:54:27.960
<v Speaker 1>But look, there were a lot of non tariff restrictions

1604
01:54:28.000 --> 01:54:33.279
<v Speaker 1>on trade. This is the subsidies. I'm for US reducing

1605
01:54:33.399 --> 01:54:39.319
<v Speaker 1>all restrictions on trade, zero tariffs and zero subsidies as

1606
01:54:39.560 --> 01:54:50.680
<v Speaker 1>the first thing that you do, and let other countries.

1607
01:54:52.319 --> 01:54:52.840
<v Speaker 2>Deal with that.

1608
01:54:53.560 --> 01:54:56.399
<v Speaker 1>I mean, it places the US in a fantastic position

1609
01:54:56.760 --> 01:55:00.600
<v Speaker 1>to compete with everybody else. We would have the lower costs,

1610
01:55:01.119 --> 01:55:05.840
<v Speaker 1>best quality stuff. You know, we would be able to

1611
01:55:05.880 --> 01:55:10.039
<v Speaker 1>focus and specialize in a comparative advantage, and we'd have

1612
01:55:10.039 --> 01:55:13.279
<v Speaker 1>a huge advantage over the rest of the world and

1613
01:55:13.800 --> 01:55:16.239
<v Speaker 1>yet be trading with them to mutual benefits. So the

1614
01:55:16.319 --> 01:55:19.199
<v Speaker 1>United States would become richer really really fast. Now would

1615
01:55:19.199 --> 01:55:22.520
<v Speaker 1>become even faster. We become richer if there was zero

1616
01:55:22.640 --> 01:55:25.760
<v Speaker 1>taffs everywhere in the world and zero trade restrictions everywhere

1617
01:55:25.760 --> 01:55:28.239
<v Speaker 1>in the world. And I think we have other leverage,

1618
01:55:28.479 --> 01:55:32.680
<v Speaker 1>other mechanisms by which we can incentivize countries to reduce

1619
01:55:32.720 --> 01:55:36.000
<v Speaker 1>their terists to zero. But look, if I believe that

1620
01:55:36.640 --> 01:55:40.840
<v Speaker 1>Trump was using tariffs in order to reduce other people's

1621
01:55:40.840 --> 01:55:44.000
<v Speaker 1>tasts on our goods, and ultimately what he wants and

1622
01:55:44.039 --> 01:55:47.279
<v Speaker 1>what he's moving towards is the zero tariff world, including

1623
01:55:47.319 --> 01:55:53.560
<v Speaker 1>the United States, I'd be mildly sympathetic. But that's not

1624
01:55:53.640 --> 01:55:54.439
<v Speaker 1>what he's trying to do.

1625
01:55:58.279 --> 01:55:59.880
<v Speaker 2>Right With regards to the previous question.

1626
01:56:01.960 --> 01:56:04.359
<v Speaker 1>Saying, how do you debate someone about Chinese economy how

1627
01:56:04.399 --> 01:56:06.960
<v Speaker 1>people now people say it has a better system in

1628
01:56:07.000 --> 01:56:07.880
<v Speaker 1>the US, it doesn't.

1629
01:56:09.000 --> 01:56:12.439
<v Speaker 2>Chinese are dramatically.

1630
01:56:11.720 --> 01:56:16.720
<v Speaker 1>Poorer than Americans about GDP per capital if I remember

1631
01:56:16.800 --> 01:56:22.399
<v Speaker 1>right or less, they're very poor, much poorer than Americans,

1632
01:56:23.319 --> 01:56:27.600
<v Speaker 1>and they're less innovative, they're less productive, productivity per worker,

1633
01:56:28.199 --> 01:56:33.000
<v Speaker 1>value added per worker dramatically less in China than the

1634
01:56:33.079 --> 01:56:37.880
<v Speaker 1>United States. And those areas in China that have done well,

1635
01:56:37.920 --> 01:56:40.880
<v Speaker 1>as I said before, or those areas where they have

1636
01:56:40.960 --> 01:56:44.880
<v Speaker 1>embraced more free markets, and those areas that do poorly.

1637
01:56:46.239 --> 01:56:49.279
<v Speaker 1>But you know, look at the look at the real

1638
01:56:49.399 --> 01:56:53.079
<v Speaker 1>estate crisis in China, real estate prices in China, look

1639
01:56:53.119 --> 01:56:56.800
<v Speaker 1>at the debt that they that the provisional governments have.

1640
01:56:58.640 --> 01:57:01.680
<v Speaker 1>China isn't very very, very bad economic state right now

1641
01:57:01.720 --> 01:57:05.439
<v Speaker 1>now South America because the debt we've accumulated, but China's

1642
01:57:05.479 --> 01:57:08.000
<v Speaker 1>feeling it in a way we're not. And and again

1643
01:57:08.039 --> 01:57:11.039
<v Speaker 1>people's wealth is being affected in the way American's wealth

1644
01:57:11.079 --> 01:57:15.800
<v Speaker 1>is not. Not yet all right, I think this is

1645
01:57:15.840 --> 01:57:22.079
<v Speaker 1>the last question. H Andrews says, you mentioned how one's

1646
01:57:22.079 --> 01:57:25.920
<v Speaker 1>circumstances don't ultimately dictate one's ideas or actions. Ran referred

1647
01:57:25.960 --> 01:57:29.279
<v Speaker 1>to that notion as an alibi for weaklings. Yeah, I

1648
01:57:29.319 --> 01:57:35.119
<v Speaker 1>mean people are constantly trying to make excuses, trying to

1649
01:57:36.760 --> 01:57:42.079
<v Speaker 1>you know, shift responsibility, shrug off responsibility for their own lives.

1650
01:57:43.199 --> 01:57:48.000
<v Speaker 1>And that's an alibi for for weaklings, and and and absolutely,

1651
01:57:48.079 --> 01:57:52.399
<v Speaker 1>and you know, it's my circumstances, my parents, it's my neighborhood.

1652
01:57:52.720 --> 01:57:56.760
<v Speaker 1>It's it's uh, it's my genes, it's my and and

1653
01:57:57.399 --> 01:58:00.000
<v Speaker 1>people do it all the time, and and you might

1654
01:58:00.000 --> 01:58:02.920
<v Speaker 1>I catch yourself sometimes doing it. Don't give it to it.

1655
01:58:03.479 --> 01:58:07.079
<v Speaker 1>You in control of your destiny. You get to decide,

1656
01:58:07.840 --> 01:58:10.960
<v Speaker 1>You get to choose you need. You get to make

1657
01:58:10.960 --> 01:58:14.000
<v Speaker 1>your own future. You get to make your own soul.

1658
01:58:15.479 --> 01:58:17.600
<v Speaker 1>You get to shape who you are and what you are.

1659
01:58:20.279 --> 01:58:24.760
<v Speaker 1>Don't use genetics or environment as an excuse. They're a

1660
01:58:24.840 --> 01:58:29.079
<v Speaker 1>very bad one. All right, guys, I will see you tomorrow,

1661
01:58:29.640 --> 01:58:32.880
<v Speaker 1>probably at twelve noon. If it won't be a twelve

1662
01:58:32.880 --> 01:58:35.199
<v Speaker 1>noon for some reason, it'll be late at night because

1663
01:58:35.199 --> 01:58:39.119
<v Speaker 1>I'm giving a talk tomorrow at a jazz club in Lisbon.

1664
01:58:40.159 --> 01:58:42.640
<v Speaker 1>They've got a book club thing that they do. I'm

1665
01:58:42.680 --> 01:58:45.600
<v Speaker 1>gonna talk about an Affla shrugged, So that'll be fun.

1666
01:58:46.439 --> 01:58:50.479
<v Speaker 1>I'll tell you about that on Thursday when we do

1667
01:58:50.520 --> 01:59:00.359
<v Speaker 1>a show Thursday. All right, everybody, I will see you tomorrow. Bye. Yeah,
