1 00:00:04,879 --> 00:00:07,160 Speaker 1: What's going on. Thank you so much for listening to 2 00:00:07,200 --> 00:00:09,640 this podcast. It is heard live every day from noon 3 00:00:09,679 --> 00:00:12,519 to three on WBT Radio in Charlotte. And if you 4 00:00:12,560 --> 00:00:16,719 want exclusive content like invitations to events, the weekly live stream, 5 00:00:16,760 --> 00:00:19,239 my daily show prep with all the links, become a patron, 6 00:00:19,320 --> 00:00:22,640 go to dpetecleanershow dot com. Make sure you hit the 7 00:00:22,640 --> 00:00:25,160 subscribe button. Get every episode for free right to your 8 00:00:25,160 --> 00:00:27,679 smartphone or tablet, And again, thank you so much for 9 00:00:27,760 --> 00:00:32,520 your support. Last hour, we talked about the lawsuit filed 10 00:00:32,759 --> 00:00:37,000 by the former UNC Charlotte DEI administrator against UNC Charlotte 11 00:00:37,000 --> 00:00:39,439 for firing her. I will circle back to that Jen 12 00:00:39,520 --> 00:00:45,920 Pisaki style, but first let me let me circle back 13 00:00:46,359 --> 00:00:48,799 like Pasaki would. Actually she never did circle back to 14 00:00:48,840 --> 00:00:51,240 this stuff. She just said she would circle back anyway. 15 00:00:51,320 --> 00:00:53,520 I'm actually going to go back to something I promised 16 00:00:53,520 --> 00:00:55,679 I would talk about a little bit more in depth. 17 00:00:55,719 --> 00:01:01,560 I'm gonna do that now, which is the DEI industry, okay, 18 00:01:01,600 --> 00:01:05,840 and what this actually is about. And when I say 19 00:01:05,840 --> 00:01:07,439 I'm going to talk about it, I actually mean somebody 20 00:01:07,480 --> 00:01:09,200 else is going to talk about it. A guy named 21 00:01:09,280 --> 00:01:14,319 James Lindsay. He writes over at New discourses dot com 22 00:01:14,359 --> 00:01:17,079 and he was one of the guys that did the 23 00:01:17,079 --> 00:01:20,319 grievance studies and he's a big warrior against the Wolke 24 00:01:20,439 --> 00:01:23,120 left and the woke right. And had him on the 25 00:01:23,159 --> 00:01:28,319 program back in September actually the day Charlie Kirk was assassinated, 26 00:01:28,359 --> 00:01:32,760 he was on the program. So he had written and 27 00:01:32,799 --> 00:01:37,159 this goes back to twenty twenty three. Okay. This is 28 00:01:37,159 --> 00:01:40,920 one of the benefits of covering a story for a 29 00:01:40,959 --> 00:01:44,280 long period of time is that you you build up 30 00:01:44,319 --> 00:01:49,319 the institutional knowledge. By the way, that's why beat reporting 31 00:01:49,519 --> 00:01:52,879 is so important. When you just send everybody out in 32 00:01:52,959 --> 00:01:59,959 a newsroom for general assignment reporting, you become a shower 33 00:02:00,599 --> 00:02:03,799 reporter because and I don't mean like intellectually, I'm just 34 00:02:03,799 --> 00:02:07,000 saying you don't. You don't have a deep understanding of 35 00:02:07,040 --> 00:02:09,560 a lot of issues or any issue, because you're just 36 00:02:09,599 --> 00:02:12,439 constantly running around chasing whatever the story of the day is. 37 00:02:12,919 --> 00:02:16,039 You're not on a beat, developing sources, doing the daily 38 00:02:16,360 --> 00:02:21,000 grind of learning things. And because a lot of stuff 39 00:02:21,039 --> 00:02:22,879 you may learn on a beat, you never put into 40 00:02:22,879 --> 00:02:25,759 a story until maybe a couple of years later. So 41 00:02:26,960 --> 00:02:29,120 being on a be covering a topic for a long 42 00:02:29,120 --> 00:02:33,039 period of time builds you that institutional knowledge. So I've 43 00:02:33,039 --> 00:02:37,240 got files on critical race theory, DEI all sorts of 44 00:02:37,240 --> 00:02:40,680 stuff back at the house, and I went and pulled 45 00:02:40,680 --> 00:02:45,520 out this this script. It comes from June of twenty 46 00:02:45,560 --> 00:02:52,439 twenty three, the diversity, equity and inclusion industry under what 47 00:02:53,000 --> 00:02:57,000 James Lindsay calls woke Marxism. He says, it's easy to 48 00:02:57,120 --> 00:03:04,759 understand this, okay, Equity is a rebrand of socialism, that's 49 00:03:04,800 --> 00:03:07,759 all that is. So when you hear the word equity, 50 00:03:08,080 --> 00:03:13,439 think socialism, what does that mean? And it's an administered 51 00:03:13,840 --> 00:03:18,919 economy that makes outcomes equal. I'm sure you've seen the 52 00:03:19,039 --> 00:03:23,120 graphic where it's like three kids looking over a fence 53 00:03:23,159 --> 00:03:26,439 into a baseball game. Right, they can't afford tickets, so 54 00:03:26,520 --> 00:03:29,479 they can't go. And so you've got a tall kid, 55 00:03:29,840 --> 00:03:32,919 a medium heighth kid, and a short kid. The short 56 00:03:33,000 --> 00:03:37,560 kid can't see anything, right, the medium kid can barely 57 00:03:37,599 --> 00:03:40,199 see over the fence, and the tall kid can see fine. 58 00:03:41,039 --> 00:03:46,479 And so they say, you know, equality is giving everybody 59 00:03:47,080 --> 00:03:50,759 a box to stand on. So now each of the 60 00:03:50,800 --> 00:03:53,120 three kids has a box to stand on, and so 61 00:03:53,280 --> 00:03:56,960 equality looks like the tall kid really not needing the box. 62 00:03:57,000 --> 00:04:00,479 He's now just standing higher looking over the fence. The 63 00:04:00,520 --> 00:04:03,840 medium height kid he can now see over the fence, 64 00:04:04,000 --> 00:04:07,159 and the short kids still can't. So they say equity 65 00:04:07,639 --> 00:04:11,240 would be the tall kid give up his box to 66 00:04:11,280 --> 00:04:14,039 the short kid, so the short kid can now see 67 00:04:14,080 --> 00:04:16,040 over the wall, and now all three of them can see. 68 00:04:16,079 --> 00:04:23,000 Isn't that nice? Right? But who's doing the redistributing of 69 00:04:23,360 --> 00:04:29,920 the boxes? See, there's the key. So in a free society, 70 00:04:30,079 --> 00:04:35,079 the tall kid would be free to make the kind choice, 71 00:04:35,160 --> 00:04:37,839 which would be to somehow you come into possession of 72 00:04:37,839 --> 00:04:39,560 this box and you're like, well, here, I'll let you 73 00:04:39,600 --> 00:04:41,480 borrow my box, or I'll give my box to you 74 00:04:41,519 --> 00:04:44,040 whatever I can already see. I don't need the box, 75 00:04:44,160 --> 00:04:48,120 you have it so you can watch. That's a free choice. 76 00:04:48,480 --> 00:04:52,319 Under equity, somebody takes the box from the tall kid 77 00:04:52,360 --> 00:04:54,360 and says, you don't need to see it, or you 78 00:04:54,360 --> 00:04:56,000 don't need to use the box to see, so we're 79 00:04:56,000 --> 00:04:57,319 gonna take it from you. We're gonna give it to 80 00:04:57,560 --> 00:05:00,560 the short kid. See. So that's why what Lindsay is 81 00:05:00,560 --> 00:05:03,839 saying is equity is a rebrand of socialism. It is 82 00:05:03,879 --> 00:05:08,319 an administered economy, whether the economy is you know, the 83 00:05:08,439 --> 00:05:11,680 larger economy or the economy is of you know, potential 84 00:05:11,800 --> 00:05:15,959 jobs at a UNC campus or something something like that. Right, 85 00:05:16,120 --> 00:05:21,639 program or funding that's available to people, it's administered. Somebody 86 00:05:21,720 --> 00:05:25,800 is calling the shots. Diversity and inclusion then are the 87 00:05:25,920 --> 00:05:31,199 tools used to install political officers and to censor and 88 00:05:31,319 --> 00:05:38,199 remove dissidence. Okay, So diversity is the tool to install 89 00:05:38,399 --> 00:05:44,480 the people that will carry out the implementation of your equity. 90 00:05:45,360 --> 00:05:50,279 And the quote inclusion is actually the opposite, right, it 91 00:05:50,360 --> 00:05:53,720 is censorship. It's to kick out anybody that objects. Hey, 92 00:05:53,800 --> 00:05:56,639 why are you taking my box? Right? Giving it to 93 00:05:56,680 --> 00:06:00,879 somebody else? He says, In other words, the woke Marxist 94 00:06:01,000 --> 00:06:06,240 DEI industry is a racket designed to install commissars for 95 00:06:06,319 --> 00:06:12,160 its ideology. He says, equity is the goal. What is it? 96 00:06:13,279 --> 00:06:17,000 Ery describes it as the rebranding of socialism arias. 97 00:06:16,600 --> 00:06:19,560 Speaker 2: How do you know this? What is socialism? By definition? 98 00:06:19,600 --> 00:06:23,839 If you understand Marxist ideology, and I mean specifically Marxist socialism. 99 00:06:24,240 --> 00:06:27,439 If you understand Marxist ideology, you understand that marx believe 100 00:06:27,480 --> 00:06:32,519 that capitalism would give into its own contradictions, then the 101 00:06:32,560 --> 00:06:36,079 proletariat would rise up seize the means of production, and 102 00:06:36,120 --> 00:06:43,560 they would create an administered economy where they redistribute material, resources, opportunity, etc. 103 00:06:43,920 --> 00:06:48,040 According to Marxist theory, so in particular, people would be 104 00:06:48,079 --> 00:06:50,639 made equal, shares would be adjusted so that people would 105 00:06:50,639 --> 00:06:54,079 be made equal. Then this would be done by the proletariat. 106 00:06:54,560 --> 00:06:58,480 Equity is the same thing. Social equity is defined by H. 107 00:06:58,560 --> 00:07:03,519 George Frederickson as compared against equality, as equality is when 108 00:07:03,560 --> 00:07:06,959 citizens A and B are equal, and equity is when 109 00:07:07,399 --> 00:07:10,199 shares are adjusted so that citizens A, M. B are 110 00:07:10,240 --> 00:07:12,959 made equal. In other words, you're going to have the 111 00:07:12,959 --> 00:07:16,720 seizure of the means of a distrib distribution of resources, 112 00:07:16,720 --> 00:07:19,720 whether those are material or cultural. They're going to be 113 00:07:19,800 --> 00:07:23,920 redistributed to groups, and then within the groups to individuals 114 00:07:23,959 --> 00:07:26,000 within those groups. And so you're going to have a 115 00:07:26,079 --> 00:07:30,319 redistributed economy where groups are made equal and presumably most 116 00:07:30,319 --> 00:07:33,720 individuals within those groups will be equalized by that mechanism. 117 00:07:33,920 --> 00:07:37,920 So equity means socialism. The only thing that's different is 118 00:07:37,959 --> 00:07:40,920 it's not purely economic. It now takes into account things 119 00:07:40,959 --> 00:07:44,439 like racial identity, sexual identity, gender identity, fat status and 120 00:07:44,480 --> 00:07:46,759 so on. All these identity politics. 121 00:07:48,120 --> 00:07:55,920 Speaker 1: Yeah, fat status Okay, So think in terms of Marxism 122 00:07:56,040 --> 00:08:05,000 being about capital, right and equity being about social capital. Right, 123 00:08:05,040 --> 00:08:10,160 they both have value, they both have currency. Here social 124 00:08:10,199 --> 00:08:14,240 capital does you know, carry purchase? And so if you 125 00:08:14,319 --> 00:08:18,279 can take some social capital from some group of people, 126 00:08:18,639 --> 00:08:21,319 because again remember in Marxism it's all about power dynamics, 127 00:08:21,319 --> 00:08:26,319 oppress or repressed viewpoints that everybody is viewed through that lens. 128 00:08:26,759 --> 00:08:30,720 You are either oppressed or oppressor. And so if you can, 129 00:08:31,879 --> 00:08:34,679 if you can take some social capital from your oppressor 130 00:08:35,039 --> 00:08:38,080 right now, because because you are the oppressed, or inversely 131 00:08:38,120 --> 00:08:41,600 you could say I'm oppressed, therefore I'm justified in taking 132 00:08:41,720 --> 00:08:49,480 that capital from you. He talks about how these decisions 133 00:08:49,480 --> 00:08:53,200 then get made, Who gets what, how much do they get? 134 00:08:53,679 --> 00:08:57,600 Who decides all of that? 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For additional terms and responsible gaming resources 155 00:10:06,799 --> 00:10:11,799 see DKNG dot co, slash audio limited time offer. So diversity, 156 00:10:11,840 --> 00:10:15,840 equity inclusion, I said, equity is the is a rebrand 157 00:10:15,879 --> 00:10:20,639 of socialism. It's same thing administered economy that makes outcomes equal. 158 00:10:21,360 --> 00:10:22,840 How do you do that? You got to have people 159 00:10:22,840 --> 00:10:26,320 that make those decisions. Who gets what? How much do 160 00:10:26,399 --> 00:10:30,159 they get a piece, right, and all of those decisions 161 00:10:30,320 --> 00:10:34,840 or the economy, if you will, whether it's actual you know, property, 162 00:10:35,000 --> 00:10:39,320 actual money, or capital or its social capital, it's credentials, 163 00:10:39,399 --> 00:10:43,639 it's standing, its invitations to the hottest parties on the 164 00:10:43,639 --> 00:10:47,320 college campus among faculty, that kind of thing, right, Who 165 00:10:47,480 --> 00:10:54,080 does the administration of this of this equity, Well, that 166 00:10:54,080 --> 00:10:57,120 would be the party, whatever the party is. In a 167 00:10:57,240 --> 00:11:01,039 socialist utopia which has never really been tried, that would 168 00:11:01,080 --> 00:11:03,919 be you know, the socialist party, communist party. And that's 169 00:11:03,960 --> 00:11:09,279 where the diversity and the inclusion parts come into play. 170 00:11:09,879 --> 00:11:13,679 Speaker 2: Diversity is not diversity meaning looking different or having different 171 00:11:13,720 --> 00:11:19,000 backgrounds or different you know, gender, sex, sexuality characteristics. What 172 00:11:19,039 --> 00:11:23,000 diversity means is that those characteristics are spoken to in 173 00:11:23,039 --> 00:11:26,679 an authentic way, which is defined by the neo Marxist 174 00:11:26,679 --> 00:11:30,759 identity theories, whether that's critical race theory, gender theory, queer theory, 175 00:11:30,879 --> 00:11:34,279 or whatever else. So you are, actually, under their view, 176 00:11:34,559 --> 00:11:39,960 not authentically diverse, because you're not representing your diverse perspective 177 00:11:40,000 --> 00:11:42,960 authentically unless you're speaking to it from a position that's 178 00:11:43,000 --> 00:11:46,399 adopted the critical theory. The relevant critical theory we see 179 00:11:46,440 --> 00:11:50,120 in policy documents all over that diversity doesn't mean hiring 180 00:11:50,200 --> 00:11:54,240 for characteristics like sex, gender, race, et cetera. That means 181 00:11:54,320 --> 00:11:57,639 hiring for expertise in diversity, and if people happen to 182 00:11:57,639 --> 00:11:59,840 be of different sex, gender, et cetera, that's even better 183 00:12:00,159 --> 00:12:03,440 expertise and diversity means you've adopted the so called unique, 184 00:12:03,519 --> 00:12:08,399 structurally determined voice of color or voice of your identity, 185 00:12:08,840 --> 00:12:12,080 and therefore you are actually speaking what the critical theory 186 00:12:12,159 --> 00:12:15,960 or the Marxist theory, Marxist identity theory is saying that 187 00:12:16,039 --> 00:12:18,320 somebody who looks like you should be saying. 188 00:12:18,639 --> 00:12:22,639 Speaker 1: Right. So this goes to the argument that you heard 189 00:12:22,919 --> 00:12:27,480 from Adam Gillett from Accuracy in Media last hour when 190 00:12:27,519 --> 00:12:29,559 he was talking about diversity, and he's like, look at 191 00:12:29,559 --> 00:12:36,799 the makeup of the you know, college faculty. It's homogeneous politically, right. 192 00:12:37,679 --> 00:12:41,840 There are no conservatives, you know, among the faculty ranks, 193 00:12:41,840 --> 00:12:44,759 and the amount of political donations that are given, it's 194 00:12:44,799 --> 00:12:49,080 like ninety nine percent for Democrats, right, And that's why 195 00:12:49,120 --> 00:12:51,360 a lot of people on the right throw this argument 196 00:12:51,399 --> 00:12:53,480 back in the face of the left when they say, 197 00:12:53,559 --> 00:12:55,519 you know, oh, we're about diversity, and like, no, you're not, 198 00:12:55,720 --> 00:12:59,320 because you want everybody to think like you. And this 199 00:12:59,440 --> 00:13:01,759 is what Jane Lindsay is talking about in that clip 200 00:13:01,799 --> 00:13:06,399 there is that diversity is essentially a code word that 201 00:13:06,559 --> 00:13:11,440 is used to smuggle in the Marxism. Okay, it's a 202 00:13:11,480 --> 00:13:15,080 way to weed out who is there simply because they 203 00:13:15,120 --> 00:13:18,759 are a member of a protected class, a minority status, 204 00:13:18,840 --> 00:13:24,919 or something right but doesn't agree with Marxism. So you're 205 00:13:25,000 --> 00:13:30,480 not adequately or authentically diverse unless you are articulating the 206 00:13:30,519 --> 00:13:36,879 positions that a Marxist would articulate that would represent your 207 00:13:37,159 --> 00:13:42,720 stereotypical class. This is why you get leftists calling conservatives 208 00:13:42,759 --> 00:13:47,480 and Republicans who are black or who are gay, they 209 00:13:47,480 --> 00:13:50,559 call them sellouts, they call them traders, they call them 210 00:13:50,559 --> 00:13:56,360 not authentic. It's the ideology that makes them an authentic 211 00:13:56,600 --> 00:14:03,399 member of their demographic group. Right, what's the line, not 212 00:14:03,559 --> 00:14:07,159 all skin folk or kinfolk, that kind of That's what 213 00:14:07,159 --> 00:14:09,759 they're talking about. That's what this means. That's how you 214 00:14:09,879 --> 00:14:13,679 end up with this, with these charges, these accusations, these 215 00:14:13,679 --> 00:14:19,039 smears that you're not authentic unless you agree with me. 216 00:14:20,320 --> 00:14:26,840 Hence the uh. The diversity is the diversity and inclusion, 217 00:14:27,200 --> 00:14:30,399 you know, Diversity is the mechanism by which you administer 218 00:14:30,480 --> 00:14:32,840 the economy, and the inclusion is the way that you 219 00:14:32,919 --> 00:14:36,159 censor people who are not quote unquote authentic. This is 220 00:14:36,159 --> 00:14:40,240 what James Lindsay gets to. Now I think let's try 221 00:14:40,240 --> 00:14:40,559 it again. 222 00:14:40,840 --> 00:14:43,480 Speaker 2: Inclusion means that people who are affected badly by the 223 00:14:43,559 --> 00:14:47,120 so called power dynamics have to be made to be included. 224 00:14:47,440 --> 00:14:52,279 Everybody else is believed to be automatically included. So ideas 225 00:14:52,360 --> 00:14:54,600 that might offend somebody who is in a so called 226 00:14:54,600 --> 00:15:02,559 protected class must be excluded to promote an inclusive environment. Idea, pictures, images, rocks, 227 00:15:02,879 --> 00:15:05,440 anything in the world that might make somebody feel like 228 00:15:05,519 --> 00:15:10,360 they can associate through whatever. Master bedrooms, for example, give 229 00:15:10,399 --> 00:15:12,279 people the idea of slavery even though they have nothing 230 00:15:12,320 --> 00:15:14,639 to do with slavery. The term was invented in the 231 00:15:14,720 --> 00:15:18,679 nineteen twenties. And a catalog, a marketing catalog, and so 232 00:15:19,399 --> 00:15:21,519 anything that can give somebody the idea of something that 233 00:15:21,720 --> 00:15:23,799 feels like power dynamics has to be censored. 234 00:15:26,360 --> 00:15:30,240 Speaker 1: And if you aren't awakened or woke to the Marxist 235 00:15:30,360 --> 00:15:36,639 analysis of your own race or gender, sexual orientation or whatever, 236 00:15:37,200 --> 00:15:41,200 then you're not authentic. So it's the installation of political 237 00:15:41,240 --> 00:15:48,840 officers inside the bureaucracy that then administer. These are the 238 00:15:48,919 --> 00:15:54,960 diversity officers, right, which they then lead the censorship, the purges. 239 00:15:56,240 --> 00:16:01,240 That is the quote unquote inclusion just come with the censorship, 240 00:16:01,279 --> 00:16:04,480 even proactively to the mere sight of a white person 241 00:16:04,480 --> 00:16:08,399 at a graduation, for example, means segregating people from each 242 00:16:08,440 --> 00:16:14,000 other to prevent harm or sharing the space. That's why 243 00:16:14,000 --> 00:16:19,399 we saw segregated spaces being promoted as inclusive when they 244 00:16:19,399 --> 00:16:24,240 are anything but inclusive. Right, it's like the upside down World. 245 00:16:26,440 --> 00:16:29,039 That's not a reference to Stranger That was not intentional. 246 00:16:29,159 --> 00:16:32,960 Although the final I guess is it one episode tonight 247 00:16:33,039 --> 00:16:35,960 or is it two episodes? Is it two? It's just 248 00:16:35,960 --> 00:16:38,480 one they're gonna roll, but it's two hours, right, it's 249 00:16:38,480 --> 00:16:43,799 one episode, two hours. Okay, yeah, I'll be watching it. 250 00:16:45,000 --> 00:16:46,879 I mean, I've come this far. It took me ten 251 00:16:46,960 --> 00:16:50,279 years to watch you know, all four seasons? Is that 252 00:16:50,320 --> 00:16:54,360 how many? There were four? This is the fifth season. Yeah, well, 253 00:16:54,399 --> 00:16:56,320 I mean they took like about half a decade off 254 00:16:56,360 --> 00:16:58,360 between like seasons three and four for some reason, and 255 00:16:58,360 --> 00:17:00,360 then they did like a half season season five finale, 256 00:17:00,440 --> 00:17:03,519 a half season finale or something. It was ridiculous. They're 257 00:17:03,720 --> 00:17:07,759 they're all now in the like midlife years, they're like thirty. 258 00:17:08,319 --> 00:17:10,119 They started off but they were all cute. They were 259 00:17:10,160 --> 00:17:16,319 like seven years old, and now they're thirty. It's just nuts. Anyway, 260 00:17:16,440 --> 00:17:19,880 this is why you end up with colleges, and mainly colleges. 261 00:17:19,920 --> 00:17:21,319 I don't know about any high schools that have been 262 00:17:21,319 --> 00:17:25,640 doing this, but you know, holding segregated graduation ceremonies, got 263 00:17:25,640 --> 00:17:30,400 to do it proactively for inclusiveness. It's the complete opposite. 264 00:17:31,680 --> 00:17:36,200 And the party officers, whether that's at the UNC Charlotte 265 00:17:36,240 --> 00:17:40,720 Dei office, right, or it's you know, a political party, 266 00:17:42,200 --> 00:17:46,680 they get to make the decisions for people. That's the 267 00:17:46,799 --> 00:17:50,279 vision of Marx, that's the communist vision. It's the people, 268 00:17:50,640 --> 00:17:53,079 but not really the people. It's the people who are 269 00:17:53,079 --> 00:17:57,799 in control of the party apparatus. And then sometimes you'll 270 00:17:57,839 --> 00:18:01,599 hear the term belonging. The only clue that which is inclusion. 271 00:18:01,640 --> 00:18:05,599 But it's with a positive affirmation. So it's not enough 272 00:18:05,680 --> 00:18:10,119 to not offend. Right, And by the way, you don't 273 00:18:10,119 --> 00:18:12,200 know if you've ever been offensive or not, because if 274 00:18:12,240 --> 00:18:14,960 you're not intending to be offensive, but you are offensive, 275 00:18:15,000 --> 00:18:17,519 it doesn't matter what your intent is. Intention has nothing 276 00:18:17,519 --> 00:18:19,680 to do with it. It's all about how somebody perceives 277 00:18:19,720 --> 00:18:24,720 it right. So yeah, that's a dead bang loser. But 278 00:18:25,000 --> 00:18:27,640 now with the belonging thing, that means you have to 279 00:18:27,720 --> 00:18:31,799 affirm everybody and their ideas. And if you don't do 280 00:18:31,880 --> 00:18:36,640 the affirmation, then you're not being inclusive and helping them 281 00:18:36,680 --> 00:18:40,799 feel like they belong. It's all about control. You know. 282 00:18:40,880 --> 00:18:43,400 Stories are powerful. They help us make sense of things, 283 00:18:43,400 --> 00:18:46,839 to understand experiences. Stories connect us to the people of 284 00:18:46,880 --> 00:18:50,200 our past while transcending generations. They help us process the 285 00:18:50,279 --> 00:18:53,680 meaning of life, and our stories are told through images 286 00:18:53,720 --> 00:18:57,519 and videos. Preserve your stories with Creative Video started in 287 00:18:57,599 --> 00:19:00,440 nineteen ninety seven and Minhill, North Carolina. It was the 288 00:19:00,519 --> 00:19:04,440 first company to provide this valuable service, converting images, photos 289 00:19:04,480 --> 00:19:08,720 and videos into high quality produced slide shows, videos and albums. 290 00:19:08,880 --> 00:19:12,240 The trusted, talented and dedicated team at Creative Video will 291 00:19:12,279 --> 00:19:14,319 go over all of the details with you to create 292 00:19:14,359 --> 00:19:18,200 a perfect project. Satisfaction guaranteed. Drop them off in person 293 00:19:18,279 --> 00:19:20,039 or mail them. They'll be ready in a week or two. 294 00:19:20,240 --> 00:19:25,480 Memorial videos for your loved ones, videos for rehearsal, dinners, weddings, graduations, Christmas, 295 00:19:25,599 --> 00:19:29,759 family vacations, birthdays, or just your family stories all told 296 00:19:29,799 --> 00:19:33,519 through images. That's what your photos and videos are. They 297 00:19:33,519 --> 00:19:36,400 are your life told through the eyes of everyone around 298 00:19:36,400 --> 00:19:38,680 you and all who came before you, and they will 299 00:19:38,680 --> 00:19:42,039 tell others to come. Who you are. Visit creative video 300 00:19:42,279 --> 00:19:45,640 dot com. So look, I want to I want to 301 00:19:45,680 --> 00:19:48,240 try to, you know, end the year on an upbeat 302 00:19:48,440 --> 00:19:54,519 note or a couple notes, maybe like like a whole verse, 303 00:19:55,160 --> 00:20:00,559 maybe a whole song of upbeatedness. So I've been talking 304 00:20:00,559 --> 00:20:03,960 a lot over the years about, you know, how much 305 00:20:04,160 --> 00:20:11,119 I agree with the environmentalists and the net zeroers, the 306 00:20:11,200 --> 00:20:16,160 no growthers, the leftists about how we want to get 307 00:20:16,200 --> 00:20:19,079 to no carbon emissions because if we don't get to 308 00:20:19,160 --> 00:20:22,119 zero carbon emissions, then we're all going to die because 309 00:20:22,160 --> 00:20:25,519 guya earth is going to kill us. Although I disagree 310 00:20:25,559 --> 00:20:27,480 with that last part. I don't think gaya Earth is 311 00:20:27,519 --> 00:20:29,960 going to kill us. I think the sun is trying 312 00:20:29,960 --> 00:20:32,079 to kill us, and the sooner we can knock that 313 00:20:32,079 --> 00:20:33,960 thing out, I think the better off we're all going 314 00:20:34,039 --> 00:20:37,359 to be. But I have look, I am on board. 315 00:20:37,400 --> 00:20:39,160 You want to get rid of CO two gas in 316 00:20:39,200 --> 00:20:41,359 the atmosphere, You want to starve all the trees and 317 00:20:41,400 --> 00:20:44,319 bushes of their the what they breathe in and need 318 00:20:44,319 --> 00:20:47,079 to grow. Like, I'm on board, let's kill all the 319 00:20:47,079 --> 00:20:49,319 trees and shrubs. I am on board. It'll make the 320 00:20:49,440 --> 00:20:52,279 views a lot nicer when you're driving down the road 321 00:20:52,359 --> 00:20:54,200 up in the mountains, you know, and like all the 322 00:20:54,240 --> 00:20:57,279 trees have now grown so tall you can't see any 323 00:20:57,319 --> 00:21:01,240 of the beautiful vistas, although they probably won't be so 324 00:21:01,240 --> 00:21:03,960 beautiful if there are no trees in the valleys anymore, 325 00:21:04,000 --> 00:21:07,599 but that's side issue, right. Primarily, it's like I can't 326 00:21:07,599 --> 00:21:10,720 see all of the beautiful nature because the nature has 327 00:21:10,720 --> 00:21:14,240 grown up too high along the side of the road. Which, 328 00:21:14,279 --> 00:21:16,240 by the way, if you go up there and you 329 00:21:16,240 --> 00:21:18,000 look at some of the old photos go through the 330 00:21:18,240 --> 00:21:22,359 local museums as I have done, you'll see that they 331 00:21:22,680 --> 00:21:24,680 like when they built all the road system up there, 332 00:21:24,799 --> 00:21:28,400 is for mainly like a lot of logging. They clear 333 00:21:28,440 --> 00:21:31,519 cut the bajeebus out of the mountains up in western 334 00:21:31,519 --> 00:21:34,240 North Carolina. I mean, they just took all the trees, right, 335 00:21:34,960 --> 00:21:36,640 and so it took a long time, but all the 336 00:21:36,640 --> 00:21:39,559 trees have grown back, and now they've grown up alongside 337 00:21:39,599 --> 00:21:42,240 of the roads that they had put in that you 338 00:21:42,359 --> 00:21:44,079 used to be able to look out over the side 339 00:21:44,119 --> 00:21:47,000 of the road and see these beautiful vistas of the 340 00:21:47,079 --> 00:21:50,400 valley and such, but you can't see them anymore because 341 00:21:50,440 --> 00:21:53,079 all the trees have grown up, and the environmentalists up 342 00:21:53,079 --> 00:21:56,119 in the Asheville area they don't allow you to cut 343 00:21:56,160 --> 00:21:58,079 any of the trees down, so now you just can't 344 00:21:58,079 --> 00:22:01,160 see over the side, which my wife is happy about, 345 00:22:01,160 --> 00:22:03,319 because she gets kind of nervous, you know, looking over 346 00:22:03,359 --> 00:22:05,960 the side of the guardrail there and seeing the sheer 347 00:22:06,000 --> 00:22:09,640 cliff drop off. So I mean, look, life is trade offs. 348 00:22:10,000 --> 00:22:12,880 But anyway, the whole point here is that CO two 349 00:22:12,960 --> 00:22:15,119 is is bad. We want to get rid of all 350 00:22:15,160 --> 00:22:17,079 the CO two, right, We want to get to net zero. 351 00:22:17,119 --> 00:22:21,200 We want to have no carbon emissions, and that's gonna 352 00:22:21,920 --> 00:22:27,559 that's going to win the energy race for us. Okay. Now, 353 00:22:27,559 --> 00:22:30,559 in all seriousness, if you're ever in a discussion with 354 00:22:30,599 --> 00:22:33,160 somebody who is advocating for the reduction of CO two 355 00:22:33,240 --> 00:22:37,000 in the atmosphere and nuclear is not part of their equation, 356 00:22:37,319 --> 00:22:40,559 then you know you're not actually discussing the topic with 357 00:22:40,640 --> 00:22:46,599 a serious person, okay, because nuclear energy production must be 358 00:22:46,799 --> 00:22:51,119 part of the equation unless you want us all you know, 359 00:22:51,319 --> 00:22:55,480 living by candle light and burning you know, cowfeeces for heat. 360 00:22:56,519 --> 00:23:00,279 Like there's there is no future with no CO two 361 00:23:01,160 --> 00:23:05,279 without nuclear, Okay, you gotta have nuclear energy production, which 362 00:23:05,319 --> 00:23:08,400 is why I was very excited to see this story 363 00:23:08,440 --> 00:23:12,039 at the at Business NC dot com, a piece by 364 00:23:12,119 --> 00:23:19,519 Ray Groenberg. Duke Energy has asked federal regulators to approve 365 00:23:19,640 --> 00:23:25,240 the idea of using part of its Bellus Creek property 366 00:23:25,359 --> 00:23:28,880 in Stokes County, North Carolina as the site for a 367 00:23:28,960 --> 00:23:33,799 set of small nuclear reactors, or as George W. Bush 368 00:23:33,880 --> 00:23:39,240 and Homer Simpson would call it, nuclear nuclear. The utility is, 369 00:23:39,319 --> 00:23:44,599 by the way, is it pronounced Bellew's Creek or Belleuze Creek, Bellews, 370 00:23:45,119 --> 00:23:51,359 Bellews anyway, it's in Stokes County. The utility on Tuesday 371 00:23:51,440 --> 00:23:55,079 applied to the US Nuclear Regulatory Commission or the NRC 372 00:23:55,759 --> 00:23:59,799 for what's called an early site permit, and that entails 373 00:24:00,119 --> 00:24:08,000 the environmental impact studies and site safety factors, so like 374 00:24:08,200 --> 00:24:11,519 you know what happens if an earthquake occurs, a hurricane 375 00:24:11,640 --> 00:24:15,440 like that kind of stuff. So they've started the ball 376 00:24:15,519 --> 00:24:18,480 rolling on what's called the early site permit. Now they're 377 00:24:18,480 --> 00:24:20,240 going to need other permits because it is GOV co. 378 00:24:20,359 --> 00:24:22,319 You got to have like a bajillion permits for this 379 00:24:22,400 --> 00:24:27,079 sort of thing, should it. Should Duke Energy decide that 380 00:24:27,119 --> 00:24:29,599 it actually wants to go ahead with the project, then 381 00:24:29,759 --> 00:24:33,039 Duke would have to go back to the NRC to 382 00:24:33,160 --> 00:24:38,079 get their permits for construction and for operating. Okay, so 383 00:24:38,160 --> 00:24:42,519 they still need those permits approved. But the early site 384 00:24:42,559 --> 00:24:48,279 review process is optional, and it didn't even exist at 385 00:24:48,279 --> 00:24:52,839 the time Duke built its existing fleet of reactors here 386 00:24:52,880 --> 00:24:58,519 in the Carolinas, the newest reactor of which went online. 387 00:24:59,200 --> 00:25:01,440 Do you know when the when was the last time 388 00:25:01,519 --> 00:25:07,359 Duke Energy brought a nuclear plant online in the Carolinas? 389 00:25:07,960 --> 00:25:16,079 Give up? Nineteen eighty seven? Nineteen eighty seven. It's been 390 00:25:16,720 --> 00:25:20,559 what forty years almost since a nuclear plant went online? 391 00:25:20,799 --> 00:25:27,359 Forty years The country's first wave of reactor construction taught 392 00:25:27,359 --> 00:25:32,799 the NRC and the industry that many of the challenges 393 00:25:32,799 --> 00:25:37,599 that delayed the projects come during the site selection phase. 394 00:25:37,839 --> 00:25:41,839 This is according to Chris Nolan, Duke Energy's vice president 395 00:25:41,920 --> 00:25:46,599 for New Nuclear Projects or what they call new news. 396 00:25:46,880 --> 00:25:48,599 I'm just kidding. I don't think that I would call 397 00:25:48,640 --> 00:25:50,359 it that. If I were to Duke in the New 398 00:25:50,440 --> 00:25:53,599 Nuclear Projects, I would call it the new Noops Department. 399 00:25:53,920 --> 00:25:56,319 That's what I would call it, just for fun because 400 00:25:56,359 --> 00:26:00,480 it sounds fun. So by doing the early sit permit 401 00:26:01,079 --> 00:26:05,640 and getting the ball rolling now you can get all 402 00:26:05,680 --> 00:26:07,839 of the challenges because you know they're gonna get sued. 403 00:26:07,880 --> 00:26:10,240 They're gonna be objections by you know, all of the 404 00:26:10,319 --> 00:26:14,680 environmentalist groups that want no CO two emissions produced but 405 00:26:14,720 --> 00:26:20,519 don't want nuclear rights. It's solar farms, wind power only. 406 00:26:21,079 --> 00:26:23,480 That's the only thing that these groups, which by the way, 407 00:26:23,519 --> 00:26:26,400 like you can't build a wind farm without fossil fuels. 408 00:26:26,440 --> 00:26:31,839 It's just absurd. Like everything about that turbine, all of 409 00:26:31,880 --> 00:26:34,440 it comes from everything that comes out of the ground, 410 00:26:34,559 --> 00:26:37,880 you know, So don't take my word for it. Listen 411 00:26:37,880 --> 00:26:42,240 to Billy Bob Thornton in the documentary Land Man. Okay. 412 00:26:43,119 --> 00:26:46,000 Bellu's Creek is currently home to one of Duke's coal 413 00:26:46,079 --> 00:26:50,480 fired power plants, which the left hates the coal fire plants, 414 00:26:50,720 --> 00:26:55,359 hates them with the coal ash pits and the dirty 415 00:26:55,400 --> 00:26:57,960 fuel that it's burning. Right, So you're burning coal and 416 00:26:58,000 --> 00:27:00,559 you're polluting everything, and you're killing all of the babies 417 00:27:00,599 --> 00:27:04,920 and stuff. So okay, well let's take that offline and 418 00:27:05,000 --> 00:27:09,960 let's build let's build nuclear instead. No, no, no, we 419 00:27:09,960 --> 00:27:14,119 can't do that. So the utility is looking at land 420 00:27:14,200 --> 00:27:17,279 which is just to the east of where the coal 421 00:27:17,480 --> 00:27:21,200 plant is located currently, and it believes that the land 422 00:27:21,200 --> 00:27:27,640 that it's identified can accommodate up to six small modular 423 00:27:27,839 --> 00:27:30,680 reactors or SMRs. And I've talked about these things too. 424 00:27:30,680 --> 00:27:32,440 I've been very excited about these things. I have no 425 00:27:32,480 --> 00:27:34,920 idea how they work. I'm not a nuclear scientist, but 426 00:27:35,759 --> 00:27:39,559 they're small as I understand it, they're smaller than the 427 00:27:39,599 --> 00:27:43,000 big ones. I don't know if those are called big reactors, 428 00:27:43,039 --> 00:27:46,559 but these are small modular reactors SMRs, and they will 429 00:27:46,599 --> 00:27:50,079 generate somewhere in the neighborhood of about three hundred megawatts, 430 00:27:50,319 --> 00:27:56,599 which I believe will power a deloreate through through time travel. 431 00:27:57,799 --> 00:28:00,160 So if they eat, if each one can generate three 432 00:28:00,240 --> 00:28:04,160 hundred megawats, then you get six of them online, you 433 00:28:04,200 --> 00:28:08,599 got eighteen hundred megawatts, and I think that's a gigawatt. 434 00:28:08,759 --> 00:28:11,240 That's like one point eight gigawatts if my math is 435 00:28:11,279 --> 00:28:15,039 correct on all of that, and that's usually what they build. 436 00:28:15,640 --> 00:28:18,519 The big ones are the gigawatt producers. So here they're 437 00:28:18,519 --> 00:28:21,440 going to build smaller ones, and they don't know what 438 00:28:21,599 --> 00:28:24,599 kind of SMRs is, like a bunch of different models 439 00:28:24,599 --> 00:28:27,160 that they can use. They haven't decided what model to use, 440 00:28:27,160 --> 00:28:29,079 but they don't have to decide that right now. But 441 00:28:29,480 --> 00:28:32,440 their long term plan is that by twenty thirty seven, 442 00:28:32,480 --> 00:28:36,480 they've got to have an additional six hundred megawatts of 443 00:28:36,559 --> 00:28:41,200 new nuclear capacity online. Within twelve years, that's what they 444 00:28:41,200 --> 00:28:43,279 need to have, six hundred megawats. So two of these 445 00:28:43,440 --> 00:28:47,799 SMRs have to get built, Okay, within the next decade. People, 446 00:28:48,200 --> 00:28:50,119 we need two of them. So they got plans for 447 00:28:50,200 --> 00:28:53,880 eight and if they get their early site permits approved, 448 00:28:54,119 --> 00:28:57,759 those permits are good for twenty years. And they're helping 449 00:28:57,839 --> 00:29:00,680 a project in Canada and one in the Tennessee Valley 450 00:29:01,240 --> 00:29:03,839 in Knoxville, and so they're going to learn all of 451 00:29:03,880 --> 00:29:06,000 the mistakes that get made in those two projects and 452 00:29:06,000 --> 00:29:07,880 then they're going to say, all right, let's avoid those 453 00:29:07,920 --> 00:29:11,279 mistakes for our project. I think it's a great idea. 454 00:29:12,119 --> 00:29:15,759 I am supportive of this effort. Do good job. All right. 455 00:29:15,759 --> 00:29:17,599 If you're listening to this show, you know I try 456 00:29:17,599 --> 00:29:19,400 to keep up with all sorts of current events, and 457 00:29:19,440 --> 00:29:21,480 I know you do too, And you've probably heard me 458 00:29:21,559 --> 00:29:25,759 say get your news from multiple sources. Why, Well, because 459 00:29:25,759 --> 00:29:28,400 it's how you detect media bias, which is why I've 460 00:29:28,480 --> 00:29:31,799 been so impressed with ground News. It's an app, and 461 00:29:32,039 --> 00:29:34,920 it's a website and it combines news from around the 462 00:29:34,960 --> 00:29:37,640 world in one place so you can compare coverage and 463 00:29:37,759 --> 00:29:41,559 verify information. You can check it out at check dot ground, 464 00:29:41,880 --> 00:29:44,920 dot news slash pete. I put the link in the 465 00:29:44,920 --> 00:29:48,160 podcast description too. I started using ground News a few 466 00:29:48,200 --> 00:29:50,920 months ago and more recently chose to work with them 467 00:29:50,920 --> 00:29:53,720 as an affiliate because it lets me see clearly how 468 00:29:53,839 --> 00:29:57,240 stories get covered and by whom. The blind spot feature 469 00:29:57,279 --> 00:29:59,839 shows you which stories get ignored by the left and 470 00:30:00,119 --> 00:30:04,039 the right. See for yourself check dot ground, dot news 471 00:30:04,400 --> 00:30:07,519 slash pete. Subscribe through that link and you'll get fifteen 472 00:30:07,559 --> 00:30:10,640 percent off any subscription. I use the Vantage plan to 473 00:30:10,640 --> 00:30:14,119 get unlimited access to every feature. Your subscription then not 474 00:30:14,160 --> 00:30:17,160 only helps my podcast, but it also supports ground News 475 00:30:17,200 --> 00:30:20,960 as they make the media landscape more transparent. Here's a 476 00:30:20,960 --> 00:30:23,440 message on the text line from a random seven oh 477 00:30:23,440 --> 00:30:24,839 four number. By the way, if you give us your 478 00:30:24,920 --> 00:30:27,759 name in the text, we can put it into the system. 479 00:30:27,799 --> 00:30:29,079 You could just give your first name, and then I 480 00:30:29,119 --> 00:30:32,960 can say, you know, Pete texts in and says, so 481 00:30:33,079 --> 00:30:35,440 this is a seven oh four number. Who says, m 482 00:30:36,519 --> 00:30:39,039 leave it cleaner than you found it. That's the way 483 00:30:39,119 --> 00:30:41,759 I was raised. Yeah, well, I mean, look, you can't 484 00:30:41,759 --> 00:30:48,680 spell conservation without conservetive, can't spell conservative without conserve. It's 485 00:30:48,680 --> 00:30:50,000 all like, it's all part of the same thing. I'm 486 00:30:50,039 --> 00:30:53,880 the same way. Like I go camping, You pack out 487 00:30:53,920 --> 00:30:58,640 what you brought in, right, you burn everything that you 488 00:30:58,680 --> 00:31:02,400 can burn. No, I'm kidding, burn all the plastic bottles 489 00:31:02,400 --> 00:31:06,680 that you can't at the campfire. No, but you Yeah, 490 00:31:06,680 --> 00:31:08,960 you leave it better than you found it. That's the idea. 491 00:31:09,400 --> 00:31:17,480 And mister x White says for every lawsuit Duke receives 492 00:31:18,039 --> 00:31:21,759 for new nuke construction, they should publicly shut down a 493 00:31:21,799 --> 00:31:26,559 coal plant unit until the suit is resolved. Yeah. That well, 494 00:31:26,839 --> 00:31:32,000 make everybody pay for the wackos. I don't. I would 495 00:31:32,000 --> 00:31:35,119 not support that, mister White, if that is your real name. 496 00:31:36,960 --> 00:31:41,839 Another another piece of good news, we have confirmation that 497 00:31:42,000 --> 00:31:47,079 if you want more housing, which everybody keeps saying, there's 498 00:31:47,079 --> 00:31:50,640 a housing crunch and a crisis, right, and it's too expensive. 499 00:31:52,640 --> 00:31:55,359 So if you want, we have more evidence to support 500 00:31:55,400 --> 00:31:59,480 this idea that if you want more housing, the solution 501 00:31:59,839 --> 00:32:06,279 is is to build more housing. I know it's kind 502 00:32:06,279 --> 00:32:09,200 of crazy, but just stay with me here. Okay, it 503 00:32:09,240 --> 00:32:16,559 may sound paradoxical at first, counterintuitive even, but rent got 504 00:32:16,680 --> 00:32:23,279 cheaper in several major cities this past year thanks to 505 00:32:23,319 --> 00:32:31,000 an influx of luxury apartment buildings that opened. I talked 506 00:32:31,000 --> 00:32:33,519 a little bit about this a few weeks ago. We 507 00:32:33,599 --> 00:32:38,039 have more evidence now, Bloomberg dot com reporting based on 508 00:32:38,559 --> 00:32:42,119 numbers that were put out by Costar, which is the 509 00:32:42,160 --> 00:32:48,720 real estate research firm. The US average rental rate Okay, 510 00:32:49,559 --> 00:32:53,480 the average rental rate across the country fell by zero 511 00:32:53,480 --> 00:32:57,319 point one eight percent, so not a lot, but it 512 00:32:57,599 --> 00:33:01,799 went down in November, it went down. That is the 513 00:33:01,920 --> 00:33:08,279 largest monthly drop in more than fifteen years. Driving the 514 00:33:08,319 --> 00:33:14,400 decline lower rents in cities like Austin, Denver, and Phoenix, 515 00:33:15,079 --> 00:33:20,160 as well as vacation destinations like Naples, Florida, Myrtile Beach, 516 00:33:20,319 --> 00:33:25,920 South Carolina, and Ashville. Now I will put an asterisk 517 00:33:26,000 --> 00:33:29,720 by Ashville because I think that had something to do 518 00:33:29,759 --> 00:33:34,079 with Eleen. I think a lot of rates dropped because 519 00:33:35,079 --> 00:33:39,160 you know, people fled, People were not vacationing there, and 520 00:33:39,200 --> 00:33:41,279 so a lot of the rates came down so Ashville. 521 00:33:41,279 --> 00:33:43,359 And in fact, if you look at the chart, which 522 00:33:43,480 --> 00:33:47,200 I am looking at the chart here, of the amount 523 00:33:47,319 --> 00:33:50,759 of new units that came online, Ashville is not on 524 00:33:50,799 --> 00:33:55,000 this list. So Ashville doesn't. They tend not to want 525 00:33:55,000 --> 00:33:57,079 to build a lot. And I was told last night 526 00:33:57,559 --> 00:33:59,759 during my live stream from folks out in western North 527 00:33:59,759 --> 00:34:02,759 Carol on the county Bunkham County, they do zoning approvals 528 00:34:03,440 --> 00:34:06,200 out there, and they're even worse. They're more restrictive than 529 00:34:06,279 --> 00:34:10,039 the city of Asheville is. So people don't want not 530 00:34:10,079 --> 00:34:14,559 in my backyard. The Nimbi's or the bananas, build absolutely 531 00:34:14,599 --> 00:34:22,360 nothing anywhere, build absolutely nothing anywhere nearby, or something like that. 532 00:34:22,679 --> 00:34:27,000 Banana is another acronym for folks that they know. They 533 00:34:27,039 --> 00:34:29,000 move out there, and they're like, I got my little 534 00:34:29,039 --> 00:34:31,119 slice of heaven, and I'm gonna pull the ladder up 535 00:34:31,159 --> 00:34:33,800 behind me so nobody else can come aboard. I know 536 00:34:33,800 --> 00:34:37,559 I'm mixing metaphors there, But if you build more housing, 537 00:34:37,920 --> 00:34:41,280 you get more housing. And it's almost as if there's 538 00:34:41,320 --> 00:34:43,599 some sort of I don't know, invisible hand at work here. 539 00:34:44,000 --> 00:34:47,880 It lowers the prices why this doesn't make any sense. 540 00:34:48,000 --> 00:34:51,719 You're bringing luxury apartments online, Pete, why would that bring 541 00:34:51,840 --> 00:34:55,960 down the prices? Ah? Glad you asked when more luxury 542 00:34:55,960 --> 00:35:00,119 apartments get built or Class A apartment stock. When you 543 00:35:00,000 --> 00:35:02,599 you build more of those, the people who are in 544 00:35:02,679 --> 00:35:06,000 class B that want to move into a nicer unit, 545 00:35:06,039 --> 00:35:08,920 a brand new unit, they have the ability to move 546 00:35:08,920 --> 00:35:11,559 out of the class B and into Class A, which 547 00:35:11,599 --> 00:35:14,960 then opens up Class B. Now the landlord is like, oh, man, 548 00:35:15,079 --> 00:35:18,639 I got all these vacancies, So what do they do? 549 00:35:18,679 --> 00:35:22,519 They lower the rates on Class B, which then makes 550 00:35:22,519 --> 00:35:25,440 them affordable to people who are living in Class C 551 00:35:25,920 --> 00:35:28,920 apartments and they want to move up into nicer units, 552 00:35:29,119 --> 00:35:32,559 so they move from class C to Class B. So 553 00:35:32,639 --> 00:35:35,400 now you've got the landlords in class C and they're like, oh, 554 00:35:35,440 --> 00:35:39,719 what do I do? I got all these vacancies. That's right, 555 00:35:39,760 --> 00:35:41,239 you can see where this is going. It's kind of 556 00:35:41,280 --> 00:35:46,000 like a cyclical thing, right. They lower their rates new 557 00:35:46,079 --> 00:35:50,360 building openings or bringing rents down as wealthy tenants trade up, 558 00:35:50,639 --> 00:35:55,199 forcing landlords to drop prices for older apartments. Rents for 559 00:35:55,320 --> 00:36:00,639 older apartments have fallen as much as eleven percent. Some 560 00:36:01,119 --> 00:36:04,960 are now on offer at rates as low as homes 561 00:36:05,280 --> 00:36:09,480 that are usually designated as quote unquote affordable but come 562 00:36:09,559 --> 00:36:15,639 with restrictions including rent control and rent stabilization. In other words, 563 00:36:15,639 --> 00:36:19,599 the government regulatory regime that's meant to make these units 564 00:36:19,679 --> 00:36:23,960 quote unquote affordable. They are now more expensive than the 565 00:36:24,000 --> 00:36:28,719 class C private domain rentals because those landlords don't want 566 00:36:28,760 --> 00:36:34,119 the vacancies, they want people in the homes. The changed 567 00:36:34,239 --> 00:36:39,119 I love this line from Bloomberg. The changed dynamic in 568 00:36:39,199 --> 00:36:44,480 the rental market is challenging the idea that luxury housing 569 00:36:44,840 --> 00:36:49,880 doesn't help the broader ecosystem. Okay, who came up with 570 00:36:49,960 --> 00:36:55,599 that stupid idea, because it's really stupid. That's a dumb idea. 571 00:36:55,840 --> 00:37:00,159 It's challenging this idea that luxury housing doesn't help the 572 00:37:00,159 --> 00:37:03,719 broader ecosystem. Of course it would think about it. When 573 00:37:03,760 --> 00:37:07,639 flat screen TVs came out, who could afford flat screens? 574 00:37:07,679 --> 00:37:09,599 Not me. I couldn't go out and get like the 575 00:37:09,639 --> 00:37:12,480 first run of those things. They were like thousands of dollars. 576 00:37:12,920 --> 00:37:15,639 Now you can get a flat screen TV. I mean, 577 00:37:15,639 --> 00:37:17,199 if it's anything like the one I bought, it's going 578 00:37:17,239 --> 00:37:19,519 to break within the next two years. But like you 579 00:37:19,559 --> 00:37:21,599 can go out and buy a flat screen TV for 580 00:37:21,639 --> 00:37:24,360 a couple hundred dollars. Now, why is that? It's because 581 00:37:24,199 --> 00:37:28,519 the first innovations are usually most expensive because the companies 582 00:37:28,519 --> 00:37:32,039 that innovated, they suck a lot of money into research 583 00:37:32,079 --> 00:37:35,679 and development. They have to recoup their investment, and once 584 00:37:35,719 --> 00:37:40,559 they do, then the prices start dropping. Other competitors see, oh, 585 00:37:40,599 --> 00:37:42,280 this is how they did it, We can do that too. 586 00:37:42,480 --> 00:37:46,239 You have more competitors enter the marketplace. That then drives 587 00:37:46,320 --> 00:37:50,440 the prices down again, and before you know it, everybody 588 00:37:50,440 --> 00:37:53,199 has a flat screen TV now, which is super easy 589 00:37:53,239 --> 00:37:55,599 if you have to move, you know, do you ever 590 00:37:55,639 --> 00:37:57,280 have a look, I've moved a lot in my life, 591 00:37:57,280 --> 00:37:59,519 and you could move a lot more flat screen TVs 592 00:37:59,519 --> 00:38:01,920 more easily then you can move a single tube TV. 593 00:38:02,079 --> 00:38:05,920 Those things were murder anyway. Cities that built more new 594 00:38:05,960 --> 00:38:11,000 apartments in recent years largely saw rents plummet. The cities 595 00:38:11,000 --> 00:38:15,119 that did not build more new apartments did not see 596 00:38:15,360 --> 00:38:21,800 rents plummet. On the list number one in new unit growth, 597 00:38:21,840 --> 00:38:24,800 so the cities that added the most Number one was Austin, 598 00:38:26,199 --> 00:38:32,320 number two Nashville, Tennessee, and number three Charlotte, North Carolina. 599 00:38:32,480 --> 00:38:35,119 Give it up, Queens, City, Good Job number three in 600 00:38:35,159 --> 00:38:39,039 the number of new unit growth a five year average 601 00:38:39,039 --> 00:38:41,760 six point three percent that led to a five percent 602 00:38:41,920 --> 00:38:45,840 decline in the rents. Coming in at number six on 603 00:38:45,920 --> 00:38:49,039 the list Raleigh, North Carolina, with five and a half 604 00:38:49,119 --> 00:38:52,440 percent new unit growth, and they saw a decline in 605 00:38:52,480 --> 00:39:00,119 their rents down seven point nine percent. Housing supply increases 606 00:39:01,480 --> 00:39:06,599 equals a reduction in rents. All right, that'll do it 607 00:39:06,639 --> 00:39:09,239 for this episode. Thank you so much for listening. I 608 00:39:09,320 --> 00:39:11,400 could not do the show without your support and the 609 00:39:11,440 --> 00:39:14,519 support of the businesses that advertise on the podcast, so 610 00:39:14,559 --> 00:39:16,639 if you'd like, please support them too and tell them 611 00:39:16,639 --> 00:39:18,639 you heard it here. You can also become a patron 612 00:39:18,719 --> 00:39:22,920 at my Patreon page or go to thepetecleanershow dot com. Again, 613 00:39:23,159 --> 00:39:25,679 thank you so much for listening, and don't break anything 614 00:39:25,719 --> 00:39:27,480 while I'm gone.