WEBVTT 1 00:00:01.120 --> 00:00:02.919 Hey, what's up everybody. I want to think our newest 2 00:00:02.919 --> 00:00:05.000 sponsor to the Perfect Gene. They sent us a couple 3 00:00:05.000 --> 00:00:09.039 of these in order of these for everybody last week, 4 00:00:09.160 --> 00:00:12.400 and I've been rocking them. And as I figured out, 5 00:00:12.439 --> 00:00:14.599 there's a reason why some sponsors don't want to send 6 00:00:14.640 --> 00:00:18.000 you stuff, but these people did, and I've been rocking 7 00:00:18.039 --> 00:00:20.679 these jeans. I rocked them a few times this past week, 8 00:00:20.760 --> 00:00:23.679 and they're probably the best jeans I've ever worn in 9 00:00:23.679 --> 00:00:25.679 my life. I'm not saying that because they're paying us. 10 00:00:25.760 --> 00:00:28.359 I tried them out. They are legit. I used to 11 00:00:28.480 --> 00:00:32.920 hate wearing regular jeans because like, they're just not comfortable 12 00:00:32.960 --> 00:00:35.200 and we all need to admit it. So I went 13 00:00:35.240 --> 00:00:37.719 to sweatpants. I was rocking the stretched chinos, which they 14 00:00:37.759 --> 00:00:41.640 do have. Also, I'm gonna go back to rocking jeans, 15 00:00:41.679 --> 00:00:43.439 I think with the Perfect Gene. I bought two other 16 00:00:43.479 --> 00:00:47.000 pairs too, with my own money. We used our promo code, 17 00:00:47.000 --> 00:00:50.479 which is how it's fifteen for fifteen percent off. But honestly, 18 00:00:50.520 --> 00:00:53.159 it's incredible. There's a part in this video where the 19 00:00:53.159 --> 00:00:55.359 guys are doing lungers and the ladies are checking them out. 20 00:00:55.960 --> 00:00:58.000 I don't know if it's because of the gene. But 21 00:00:58.119 --> 00:01:01.079 I have found that people were women were checking me 22 00:01:01.119 --> 00:01:04.519 out more and more over the last week. I don't 23 00:01:04.519 --> 00:01:06.280 know what that is. Maybe it's the way I carry myself, 24 00:01:06.400 --> 00:01:08.519 maybe it's my gate, or maybe it's the Perfect Gene, 25 00:01:08.560 --> 00:01:10.799 or maybe it's all combined at all three combined. I don't know, 26 00:01:12.519 --> 00:01:15.920 but check it out. We really appreciate them sponsoring us. 27 00:01:15.920 --> 00:01:18.239 For a limited time, our listeners get fifteen percent off 28 00:01:18.280 --> 00:01:21.120 their first order plus free shipping at the Perfect Gene 29 00:01:21.519 --> 00:01:24.280 dot nyc. Or you could google the Perfect Gene and 30 00:01:24.359 --> 00:01:27.879 use the code House fifteen. That's House one to five 31 00:01:28.280 --> 00:01:31.799 for fifteen percent off. That's fifteen percent off for new 32 00:01:31.799 --> 00:01:35.760 customers at the Perfect Gene dot NYC with promo code 33 00:01:35.799 --> 00:01:39.239 House fifteen. After your purchase, they'll ask you where you 34 00:01:39.280 --> 00:01:41.680 heard about them. Please support our show and tell them 35 00:01:41.959 --> 00:01:46.519 we sent you. K your khakis and get the Perfect Gene. Guys, 36 00:01:46.920 --> 00:01:48.920 thank you for supporting this show, and thank you for 37 00:01:49.000 --> 00:01:51.120 Perfect Gene for helping us support the show as well. 38 00:01:52.040 --> 00:01:55.480 We couldn't do it without you, guys. Thanks a lot, 39 00:01:56.359 --> 00:02:10.199 House fifteen fifteen percent off. Hey, everybody, welcome to another 40 00:02:10.240 --> 00:02:13.319 episode of Eyes on Eyes on Geopolitics, we changed the 41 00:02:13.400 --> 00:02:15.159 name up a little bit so it's better to find 42 00:02:15.240 --> 00:02:18.639 on YouTube and everywhere else, so don't forget to like 43 00:02:18.719 --> 00:02:22.360 and subscribe. There. Joined today with Mick Molroy Andy Milburn 44 00:02:23.439 --> 00:02:26.960 a lot of cooking since we last talked big news. 45 00:02:27.199 --> 00:02:31.479 This last uh, the end of last week was tariffs, 46 00:02:31.840 --> 00:02:35.039 all the tariffs that have been implemented on various countries, 47 00:02:35.080 --> 00:02:37.919 a ten percent baseline tariff and then if you were 48 00:02:37.919 --> 00:02:41.639 on the list, everyone had their own little little uh. 49 00:02:41.960 --> 00:02:46.199 Everyone had a different number. A little bit about the 50 00:02:46.240 --> 00:02:49.120 percentage of how they got to the tariffs is kind 51 00:02:49.120 --> 00:02:52.599 of hilarious. It's almost like they just did it on 52 00:02:52.639 --> 00:02:54.560 a napkin in the Oval office and said, let's do 53 00:02:54.639 --> 00:02:56.680 this this way. I mean, I don't know that for sure, 54 00:02:56.719 --> 00:03:03.759 but that's what I you know, it seems like what 55 00:03:03.919 --> 00:03:05.800 was I gonna say, Oh, the one little thing that 56 00:03:05.879 --> 00:03:08.439 I noticed was no Russia and a tarriffs. And before 57 00:03:08.479 --> 00:03:10.479 everyone says, oh, we don't really do trade with Russia, 58 00:03:10.479 --> 00:03:13.240 that we do three billion dollars a year in trade 59 00:03:13.240 --> 00:03:16.319 with Russia. So still even while this Ukraine war is 60 00:03:16.360 --> 00:03:19.800 going on and sanctions are high. So guys, I know 61 00:03:19.840 --> 00:03:24.000 you guys aren't economists, but what are your thoughts on 62 00:03:24.080 --> 00:03:31.000 what's happening with the tariffs? Do you guys decide first? 63 00:03:31.240 --> 00:03:31.759 Go first? 64 00:03:32.719 --> 00:03:34.439 All right, I'll go for it. 65 00:03:34.439 --> 00:03:36.840 An yeah, yeah, go ahead, all right. 66 00:03:37.120 --> 00:03:38.759 Well, I'll start with the fact that I'm not an 67 00:03:38.759 --> 00:03:43.400 economist nor a financial analyst, so I'm gonna pose my 68 00:03:43.400 --> 00:03:46.680 my statements in the form of a question, because you know, 69 00:03:46.719 --> 00:03:49.800 the old Socratic thing, because they're truly questions. 70 00:03:50.879 --> 00:03:51.879 I guess I'd start with. 71 00:03:55.599 --> 00:04:01.439 Tariffs obviously ultimately are attacks on somebody, right, whether it's 72 00:04:01.479 --> 00:04:06.879 the manufacturer that's coming in the company that's does the importation, 73 00:04:07.159 --> 00:04:09.639 or the people and the that are purchasing it. 74 00:04:10.199 --> 00:04:11.719 So or all the above. 75 00:04:12.319 --> 00:04:14.479 So it does seem to me that they could call 76 00:04:14.520 --> 00:04:17.920 it what it is is, which is the biggest tax 77 00:04:17.959 --> 00:04:22.319 potential tax increase on the American population since you know, 78 00:04:22.879 --> 00:04:24.360 incompact tax started. 79 00:04:24.720 --> 00:04:26.720 So we can at least be honest. 80 00:04:26.399 --> 00:04:28.639 About what this could be and we'll find out, like 81 00:04:28.680 --> 00:04:30.680 this is in one of those arguments that's going to 82 00:04:30.720 --> 00:04:31.800 go on in perpetuity. 83 00:04:31.959 --> 00:04:33.120 We're going to find out if. 84 00:04:33.000 --> 00:04:36.240 All the cost of goods across the United States goes up, 85 00:04:36.360 --> 00:04:39.639 and if it does, that's the tax, the tariff tax. Right, 86 00:04:40.040 --> 00:04:42.879 If it doesn't, then we'll know that too. So I 87 00:04:42.879 --> 00:04:45.959 think we start with that, and then the questions I'd 88 00:04:45.959 --> 00:04:48.199 have if you look back in history, and I know 89 00:04:48.279 --> 00:04:51.839 everybody's watched that. You know the clip from Ferris Bueller, 90 00:04:52.399 --> 00:04:55.439 I mean, has this worked in the past, and how effective? 91 00:04:56.000 --> 00:05:00.000 Apparently that actually causes a great depression to get work 92 00:05:00.199 --> 00:05:04.720 war was the smooth poly ter effact or whatever it 93 00:05:04.800 --> 00:05:07.920 was called. So I look it past, I look at 94 00:05:07.920 --> 00:05:10.439 what's going to actually happen, and then it's sets the 95 00:05:10.480 --> 00:05:13.480 stage of whether this is really going to have a 96 00:05:13.519 --> 00:05:16.360 massive impact, not just on the upper income, right, because 97 00:05:16.360 --> 00:05:18.480 everybody buys stuff, So this is a tax now all 98 00:05:18.519 --> 00:05:21.839 the way down to the lowest income, including people who 99 00:05:21.920 --> 00:05:24.240 are on some kind of assistance, because then your assistance 100 00:05:24.759 --> 00:05:28.759 buys less, so it's a tax. And then the question 101 00:05:28.879 --> 00:05:33.000 for me is whether it's worth it. So the intent 102 00:05:33.120 --> 00:05:35.319 is to bring all these manufacturing jobs back to the 103 00:05:35.439 --> 00:05:41.639 United States. My question to the economists, not politicians, because 104 00:05:41.639 --> 00:05:43.040 I'd like to know somebody actually spend a. 105 00:05:43.000 --> 00:05:45.600 Lot of time looking at this. Is that going to happen? 106 00:05:46.439 --> 00:05:50.959 If we on this podcast or audience were collectively looking 107 00:05:51.000 --> 00:05:53.920 at whether we're going to invest a couple of billion 108 00:05:53.959 --> 00:06:00.279 dollars in building a car manufacturing plant in Tennessee. Are 109 00:06:00.279 --> 00:06:02.759 we going to do that not knowing that within three 110 00:06:02.759 --> 00:06:05.800 and a half years, this entire policy's going out the window, 111 00:06:06.240 --> 00:06:08.480 because that's the danger of a president being able to 112 00:06:08.480 --> 00:06:11.759 do all this, whichever president it is, because the next 113 00:06:11.800 --> 00:06:14.199 president can undo the entire thing, and then we've just 114 00:06:14.279 --> 00:06:17.759 wasted a billion dollars potentially and halfway through a project 115 00:06:17.759 --> 00:06:20.240 that we're not going to complete. So that's the second, 116 00:06:20.839 --> 00:06:23.560 I guess question i'd have. And then the third question 117 00:06:23.680 --> 00:06:27.360 is aren't we automating right now? Isn't that the intent 118 00:06:27.519 --> 00:06:29.560 of manufacturers right now? Are we going to get to 119 00:06:29.600 --> 00:06:32.120 a point where it's not in going to increase jobs 120 00:06:32.160 --> 00:06:34.360 because we're trying to get to a point where we 121 00:06:34.439 --> 00:06:38.120 have these robotic systems that create cars and phones and 122 00:06:38.199 --> 00:06:41.680 everything that's that it can And if that's the case, 123 00:06:42.480 --> 00:06:44.839 I could still see some potential benefit of bringing that 124 00:06:44.879 --> 00:06:47.560 back to the United States, But it's not all about, 125 00:06:47.680 --> 00:06:49.759 you know, the jobs that we lost back in the eighties. 126 00:06:49.800 --> 00:06:52.199 So i'd have I think I'd like to hear those 127 00:06:52.279 --> 00:06:56.959 questions answered by non politicians who are not economists on 128 00:06:57.079 --> 00:06:59.800 either side of the aisle and start being asked to 129 00:07:00.000 --> 00:07:04.759 directly to the manufacturing CEOs, to the global economists. And 130 00:07:05.759 --> 00:07:10.079 then the last point I'd make is, this is one 131 00:07:10.120 --> 00:07:12.160 system that we're going to have to address because if 132 00:07:12.160 --> 00:07:15.920 this is wrong, this could could seriously damage and we 133 00:07:15.959 --> 00:07:20.000 haven't even started talking about the stock market, seriously damaged, 134 00:07:20.240 --> 00:07:23.160 our standing in the world, our relationships around the world, 135 00:07:23.519 --> 00:07:27.480 our economy, which is actually exceptional. I think we're too 136 00:07:28.000 --> 00:07:31.160 hard on ourselves try and always play that it's not 137 00:07:32.680 --> 00:07:34.839 or do we need to make this more balance like 138 00:07:34.839 --> 00:07:37.639 our whole systems checks and balances, right, So if the 139 00:07:37.680 --> 00:07:40.399 president can tear up the president can take off the tariffs, 140 00:07:41.199 --> 00:07:44.600 we could be dramatically going back and forth every four years. 141 00:07:44.680 --> 00:07:47.800 So that's what I got in the form of a question. 142 00:07:47.879 --> 00:07:51.560 Hopefully Andy can answer it all over then. 143 00:07:52.920 --> 00:07:55.800 No such luck. Make Actually I've got more questions and answers, 144 00:07:55.839 --> 00:08:00.439 but you know as to so you know that I 145 00:08:00.480 --> 00:08:02.959 do understand, and of course you know, everyone who knows 146 00:08:03.000 --> 00:08:06.040 me knows that I'm far from being an economist. But 147 00:08:06.560 --> 00:08:08.519 here's the little that I understand, and here are the 148 00:08:08.600 --> 00:08:11.079 questions that I that I would ask. So you know, 149 00:08:11.160 --> 00:08:15.240 as far as the technicalities of trade my understanding because 150 00:08:15.279 --> 00:08:19.199 the rationale for this was reduced the United States's trade deficit. 151 00:08:19.279 --> 00:08:22.720 That was kind of the leading rationale. And yet my 152 00:08:22.839 --> 00:08:25.920 understanding is that the trade deficit has nothing to do 153 00:08:26.519 --> 00:08:30.439 with the tariffs imposed on US exports at all. It 154 00:08:30.560 --> 00:08:34.399 has to do with the fact that Americans generally choose 155 00:08:34.480 --> 00:08:38.600 to spend more than they invest, right to include their government. 156 00:08:38.639 --> 00:08:42.799 That is what is creating the deficit, and tariffs terraffs 157 00:08:42.799 --> 00:08:46.600 won't affect that at all, except arguably perhaps leaving Americans 158 00:08:46.600 --> 00:08:50.120 with far less to invest or say for that matter. 159 00:08:50.879 --> 00:08:54.919 So you know, I would be interested to hear someone's 160 00:08:54.960 --> 00:08:58.159 answer who does know about trade deficits and their connections 161 00:08:58.240 --> 00:09:03.000 with protectionist policy, to see how they are connected at all. 162 00:09:03.440 --> 00:09:03.639 You know. 163 00:09:03.799 --> 00:09:12.519 Secondly, my very rudimentary understanding of economics and recent history 164 00:09:12.799 --> 00:09:18.320 is simply that, I mean, this is undeniable. The United 165 00:09:18.320 --> 00:09:21.759 States economy has been so strong that in the last 166 00:09:21.759 --> 00:09:25.879 three decades it is far outstripped the G seven. And 167 00:09:27.080 --> 00:09:30.679 even when Europe, you know, in the last year, was 168 00:09:30.720 --> 00:09:36.279 looking at entering a recession, certainly a significant slowdown, the 169 00:09:36.399 --> 00:09:39.399 US economy was booming. So you know, in the words 170 00:09:39.399 --> 00:09:42.039 of the old phrase, if it ain't broke, Why fix it? 171 00:09:42.279 --> 00:09:44.919 What are we fixing? Okay, So that's my second question 172 00:09:45.480 --> 00:09:50.480 and the third mecha relating to you know, your historical references. 173 00:09:51.639 --> 00:09:54.480 It's very difficult because the judge calls an effect. But 174 00:09:54.559 --> 00:09:58.600 the truth is, one hundred years ago when the United States, 175 00:09:58.919 --> 00:10:04.120 when most countries had the system of protectionism, high tariffs, 176 00:10:04.879 --> 00:10:14.000 the US was nowhere near the lead economically in the world. 177 00:10:11.240 --> 00:10:11.320 And. 178 00:10:13.399 --> 00:10:18.679 The Great Depression coincided with some of the highest tariffs 179 00:10:19.279 --> 00:10:22.879 without the highest tariffs in the last hundred years occurred 180 00:10:23.159 --> 00:10:26.480 with they're in place immediately preceding the Great Depression. So, 181 00:10:26.519 --> 00:10:28.480 whether or not you believe in cause and effect, that's 182 00:10:28.519 --> 00:10:32.039 an incredible coincidence, isn't it. And it's only in the 183 00:10:32.120 --> 00:10:36.159 last eighty years where repeated rounds of trade talks in 184 00:10:36.200 --> 00:10:39.720 the aftermath of the sec World War have led incrementally 185 00:10:39.799 --> 00:10:43.519 to the lowering of tariffs around the world that you've 186 00:10:43.519 --> 00:10:46.879 seen the global economy rise. Okay, So whether or not 187 00:10:47.519 --> 00:10:50.799 you're interested in proving cause and effect, that's again a 188 00:10:50.879 --> 00:10:54.679 remarkable coincidence. So I would ask, why are we ignoring 189 00:10:54.759 --> 00:10:57.360 all of this history? All right? Even for the most 190 00:10:58.360 --> 00:11:04.840 basic understanding of economics, and history that I have. Those 191 00:11:04.879 --> 00:11:08.279 things seem pretty compelling arguments, and I haven't seen any 192 00:11:08.360 --> 00:11:12.240 counter arguments. And in fact, indeed, I think sadly in 193 00:11:12.679 --> 00:11:15.600 the years ahead, we're going to show exactly how disastrous 194 00:11:15.679 --> 00:11:22.399 these policies are, unless indeed they are a very incomprehensible 195 00:11:22.519 --> 00:11:27.799 negotiating tactic. If they are a negotiating tactic, what exactly 196 00:11:27.879 --> 00:11:31.120 are we asking for? Again, with the leading economy in 197 00:11:31.159 --> 00:11:35.039 the world, we're doing tremendously the stock market. You know, 198 00:11:35.080 --> 00:11:37.159 I know, not everything the economy in the stock market 199 00:11:37.360 --> 00:11:40.679 shouldn't be conflated, but the stock market was at its highest, 200 00:11:41.799 --> 00:11:46.919 you know late last year. Unemployment was low. People generally 201 00:11:46.960 --> 00:11:51.320 were by all measures, please with the way things are going. 202 00:11:51.360 --> 00:11:54.720 And we I mean, look at how far the US 203 00:11:54.879 --> 00:11:58.039 economy has progressed in the last decade. And it was 204 00:11:58.120 --> 00:12:01.120 the quickest to recover in the Western world off the pandemic. 205 00:12:01.200 --> 00:12:04.360 So all of these things were going really well. Again, 206 00:12:04.399 --> 00:12:05.080 why change that? 207 00:12:06.200 --> 00:12:09.559 Yeah? Also, you look at inflation too across the world 208 00:12:09.600 --> 00:12:12.360 compared to the US, Like, yeah, inflation was tough here, 209 00:12:12.360 --> 00:12:16.519 but it's nothing compared to EU. Turkey, for another, Like, 210 00:12:16.559 --> 00:12:18.960 there's a lot of developed countries that have been hit 211 00:12:19.080 --> 00:12:24.279 hard with inflation since COVID. This will obviously add to inflation, 212 00:12:24.399 --> 00:12:25.919 right because most of the stuff we get is not 213 00:12:26.000 --> 00:12:32.000 American made, and that's just the fact of globalization, market capitalism. 214 00:12:33.159 --> 00:12:36.159 And the big hit on Friday was for the stock 215 00:12:36.200 --> 00:12:40.320 market was because China announced a thirty four percent reciprocal 216 00:12:40.360 --> 00:12:43.639 tariff on the US goods. 217 00:12:44.559 --> 00:12:47.879 So we're going to make China a great again. I mean, 218 00:12:47.960 --> 00:12:52.679 this is absolutely playing into cheese hands. And he predicted. 219 00:12:53.720 --> 00:12:57.120 He predicted a few years ago that you know when 220 00:12:57.679 --> 00:13:00.759 when the argument was always he was always confronted with 221 00:13:00.799 --> 00:13:03.639 the argument, Hey, the US is booming, you know, the 222 00:13:03.960 --> 00:13:06.720 American way works and all of this. He said, yes, 223 00:13:06.720 --> 00:13:09.600 you're going to see things turned upside down in the 224 00:13:09.679 --> 00:13:12.360 next few years. And sure enough, I think that's what 225 00:13:12.399 --> 00:13:15.720 we're seeing. Yes, China will be hurt in the near term. 226 00:13:16.039 --> 00:13:18.480 Who knows as much as the US economy. The China 227 00:13:18.519 --> 00:13:22.960 will be hurt, but they're already redirecting the emphasis of 228 00:13:23.000 --> 00:13:26.679 their exports and they've proven to be very flexible in 229 00:13:26.720 --> 00:13:30.360 any case. They bypassed tariffs previously by going through Vietnam. 230 00:13:30.519 --> 00:13:32.320 Of course that's going to be less effective now that 231 00:13:32.399 --> 00:13:35.320 Vietnam is subject to tariffs. But the point is that 232 00:13:35.360 --> 00:13:40.960 they can direct trade. The Chinese government can direct the 233 00:13:42.240 --> 00:13:45.159 confluence of trade in a way that the United States cannot. 234 00:13:45.679 --> 00:13:49.200 And we'll recover, and we'll find a market throughout the 235 00:13:49.200 --> 00:13:53.159 world from all of those countries that we have now alienated, 236 00:13:53.200 --> 00:13:55.960 and not just the market for trade, but a market 237 00:13:56.080 --> 00:13:59.759 too for all those things that we for Chinese influence, 238 00:14:00.320 --> 00:14:10.159 you name it, military exports, allowing allowing basing rights, uh, 239 00:14:10.840 --> 00:14:16.279 extending the you know, the the there with what Cinma 240 00:14:16.360 --> 00:14:20.240 trying to remember the cliche about their uh you know, 241 00:14:20.320 --> 00:14:23.879 the the Chin to make home me out here, the 242 00:14:23.960 --> 00:14:29.679 rail rails and road and railway road initiative. Yeah, I 243 00:14:29.720 --> 00:14:31.399 mean all of the all of these things are going 244 00:14:31.440 --> 00:14:37.320 to flourish in the face. It's a gift. It's a 245 00:14:37.360 --> 00:14:38.759 gift to our adversaries. 246 00:14:39.240 --> 00:14:39.440 Yep. 247 00:14:39.759 --> 00:14:41.879 I mean we even talking, we're even here in Japan 248 00:14:41.960 --> 00:14:45.120 and South Korea talking to China about you know, trade policy, 249 00:14:45.159 --> 00:14:50.080 you talk about realignment. Remember, we are the biggest UH 250 00:14:50.879 --> 00:14:52.679 economy in the world. And I agree with Andy. If 251 00:14:52.679 --> 00:14:54.440 you look at the stats and I just saw charts, 252 00:14:54.679 --> 00:14:57.559 I mean, we have really done well against our most 253 00:14:57.759 --> 00:15:02.720 you know, significant not competitors, But I guess competitors like 254 00:15:02.759 --> 00:15:05.120 if you look at the EU, we've we or we 255 00:15:05.279 --> 00:15:08.919 have gone in twenty years from about equal to double 256 00:15:08.960 --> 00:15:13.639 the economy and our you know base mean salary is 257 00:15:14.080 --> 00:15:15.639 the best in the world as far as I could 258 00:15:15.639 --> 00:15:18.159 see in TH's charts unless the Church we're inaccurate. So 259 00:15:18.320 --> 00:15:20.600 I mean, to your point, Andy, what is it we're fixing? 260 00:15:21.159 --> 00:15:24.519 And then is this going to fix it? Or is 261 00:15:24.559 --> 00:15:27.480 this gonna essentially alienate the because this has all happened 262 00:15:27.480 --> 00:15:31.440 at the same time, we're talking about making Canada fifty 263 00:15:31.440 --> 00:15:34.919 first state and taking over, you know, territory of a 264 00:15:35.000 --> 00:15:37.799 NATO al it's do it's it's not just trade, it's 265 00:15:37.840 --> 00:15:42.480 also and then questioning the value of NATO, and we're 266 00:15:42.519 --> 00:15:46.320 going to reorder the world and right now the world 267 00:15:46.399 --> 00:15:49.240 is in our favor. Is I guess the question I 268 00:15:49.279 --> 00:15:53.000 would have? So why would we do that? And we 269 00:15:53.039 --> 00:15:56.360 could get all the negatives right because we did this 270 00:15:57.200 --> 00:15:59.960 and not on the positives, because it's then it's then 271 00:16:00.080 --> 00:16:02.799 on and flips back the other direction in three and 272 00:16:02.799 --> 00:16:06.399 a half years, because if a Democrat's elected, they're probably 273 00:16:06.399 --> 00:16:07.399 not going to continue on. 274 00:16:07.320 --> 00:16:08.720 This isolationist policy. 275 00:16:09.120 --> 00:16:13.519 And inside the Republican Party, it's traditionally been free trade 276 00:16:13.679 --> 00:16:18.240 since World War Two. Well, anybody that gets elected is 277 00:16:18.279 --> 00:16:21.559 from the traditional side of the Republican Party, which is 278 00:16:21.600 --> 00:16:24.960 most of the Senators, right, they could go back to 279 00:16:25.000 --> 00:16:28.600 the Reagan approach, which is more free trade than the Democrats. 280 00:16:29.120 --> 00:16:31.960 So and it seems like the only way this would 281 00:16:31.960 --> 00:16:34.080 be effective is if it's long term, and we just 282 00:16:34.120 --> 00:16:36.919 don't have the capacity to do long term things, so. 283 00:16:39.200 --> 00:16:42.240 It makes no sense whatsoever. Also, fun fact that I 284 00:16:42.279 --> 00:16:46.000 read this week was during the Great Depression, ten percent 285 00:16:46.039 --> 00:16:50.120 of households had stocks. Today it's seventy two percent of 286 00:16:50.159 --> 00:16:52.840 households have some money or a lot of money in 287 00:16:52.879 --> 00:16:58.000 the stock market. So to coup to multi couple on 288 00:16:58.080 --> 00:17:00.000 top of the fact that things are going to get 289 00:17:00.120 --> 00:17:03.639 more expensive with these tariffs are sticking around, people are 290 00:17:03.679 --> 00:17:05.519 getting smoked in. They're four to one k and their 291 00:17:05.519 --> 00:17:08.079 investment accounts and stuff like that. Their retirement Like. 292 00:17:08.599 --> 00:17:13.200 Yeah, everybody mind bodily, and this idea it's only for 293 00:17:13.279 --> 00:17:16.519 wealthy people is totally not true, right, I mean, we're 294 00:17:16.799 --> 00:17:19.759 based in our military. I mean, correct me if I'm wrong. 295 00:17:20.200 --> 00:17:23.400 Uh Andy, I've been retired for a while, but we're 296 00:17:23.400 --> 00:17:27.400 even basing a lot of our service members, you know, 297 00:17:27.519 --> 00:17:30.400 retirement on the stock market, aren't we isn't that what 298 00:17:30.440 --> 00:17:32.519 the TSP is and then invested in the stock market. 299 00:17:32.720 --> 00:17:34.400 So we're talking all the way out to the lowest 300 00:17:34.480 --> 00:17:38.200 level of soldier is invested in the stock market. And 301 00:17:38.200 --> 00:17:41.240 that's intentional by the government. So we do have a 302 00:17:41.279 --> 00:17:44.720 responsibility to make sure that we don't do anything to 303 00:17:44.839 --> 00:17:47.039 significantly just rup the stock market. 304 00:17:47.039 --> 00:17:52.359 In my opinion, so remember, uh yeah, remember Reaganomics, you know, 305 00:17:52.559 --> 00:17:55.920 taking us out of stackflation in the seminies. I mean, 306 00:17:55.960 --> 00:17:59.400 Reaganomics was based on I mean it was cold at 307 00:17:59.440 --> 00:18:03.799 the time, illliberalism, right, which was about reducing tariffs and 308 00:18:03.839 --> 00:18:09.880 trade paris. I mean, it's just it's extraordinary. Anyway, a 309 00:18:09.920 --> 00:18:16.960 lot of questions we're going to answer are informed listenership 310 00:18:17.960 --> 00:18:20.240 will be able to chime in in comments on. 311 00:18:20.279 --> 00:18:23.319 Yeah, the economists are going to chime in in the comments. 312 00:18:23.880 --> 00:18:26.359 Can't wait, let's put those to the top. 313 00:18:26.400 --> 00:18:29.240 But you know, you know, seriously, I gets back to 314 00:18:29.279 --> 00:18:34.880 what I've I've gone on about before. Is sadly that 315 00:18:36.279 --> 00:18:38.079 I and I don't. I don't, I can't you know, 316 00:18:38.119 --> 00:18:40.440 I wasn't brought up in the American education system. So 317 00:18:40.519 --> 00:18:44.200 I'm not thank god, yeah, I'm not. No, I mean, 318 00:18:44.279 --> 00:18:46.720 I'm not qualified to talk about it. I mean, you know, 319 00:18:47.079 --> 00:18:50.319 but it does seem to me that there is just 320 00:18:50.400 --> 00:18:54.839 an incredible blindness towards history. Geography too, by the way, 321 00:18:54.880 --> 00:18:58.799 but especially history, you know, even recent history. And it 322 00:18:58.880 --> 00:19:03.359 seems like as the this this ignorance has has uh 323 00:19:03.480 --> 00:19:07.200 has has risen to right to the right to the top, 324 00:19:07.240 --> 00:19:09.839 which is certainly concerning. I don't know how you address that, 325 00:19:10.559 --> 00:19:13.680 but that whole cliche about those who don't understand history 326 00:19:13.680 --> 00:19:15.079 are condemned to repeat it. 327 00:19:15.839 --> 00:19:19.200 Andy, I'll give you a nice anecdote. When I used 328 00:19:19.240 --> 00:19:22.000 to do podcasts that were more comedic focused. I used 329 00:19:22.039 --> 00:19:25.039 to have my you know, my buddies on and they 330 00:19:25.079 --> 00:19:29.319 used to give them the citizens citizenship test, just the 331 00:19:29.400 --> 00:19:30.880 questions from the citizenship test. 332 00:19:31.559 --> 00:19:33.839 That's tough, are they though? 333 00:19:34.640 --> 00:19:38.359 I mean, I mean they're not tough at all, and 334 00:19:38.519 --> 00:19:41.640 they would fucking fail And it was hilarious at the time. 335 00:19:42.160 --> 00:19:44.559 But it speaks to a broader thing of like what's 336 00:19:44.559 --> 00:19:47.720 wrong with our educational system? You know. I read another 337 00:19:47.759 --> 00:19:52.319 thing where like majority of kids are functionally illiterate, where 338 00:19:53.319 --> 00:19:56.359 like they can read obviously, but they like they're understanding, 339 00:19:56.480 --> 00:20:00.000 is by far, like way less than what he wants, 340 00:20:00.359 --> 00:20:02.599 you know, fifty years ago or something like that, you know, 341 00:20:03.680 --> 00:20:04.200 and it's. 342 00:20:04.000 --> 00:20:08.279 Scared, yeah, I think, I mean. And add to that 343 00:20:08.480 --> 00:20:11.079 so absolutely, you know, the at vent of the internet 344 00:20:11.119 --> 00:20:12.920 and then the phone, so the big thing that I 345 00:20:13.079 --> 00:20:16.319 think have steered people away from books. And so now 346 00:20:16.400 --> 00:20:19.039 you have you remember Mark Twain, you don't remember him, 347 00:20:19.039 --> 00:20:23.160 but Mark Mark Twain said something along the lines of, 348 00:20:23.559 --> 00:20:29.000 you know, being illiterate is sad, but sadder even than that, 349 00:20:29.119 --> 00:20:31.759 it is being literate, but choosing not to read. And 350 00:20:31.799 --> 00:20:34.559 I think that's that encompasses you know a lot of 351 00:20:34.599 --> 00:20:37.839 people sadly in this country or they read what they 352 00:20:37.880 --> 00:20:45.039 want to read. And and and it's certainly in not history, No, no. 353 00:20:45.079 --> 00:20:48.279 I don't think histories wouldn't any uh so, and on 354 00:20:48.359 --> 00:20:49.240 top of the charts. 355 00:20:49.680 --> 00:20:52.440 In the meantime, I suppose we're all, you know, snashing 356 00:20:52.640 --> 00:20:55.759 dollar bill notes or bars of gold into our mattresses 357 00:20:55.880 --> 00:21:01.039 and just hunkering down to for this on. There's a 358 00:21:01.160 --> 00:21:04.839 very sad component to this, and that is it touches 359 00:21:04.880 --> 00:21:09.240 on what Mick was talking about, the promise to return 360 00:21:09.400 --> 00:21:13.000 manufacturing to the United States, you know that, and there's 361 00:21:13.000 --> 00:21:15.839 so many things that are convoluted with that statement. We 362 00:21:15.960 --> 00:21:20.400 are no longer in manufacturing based industry for a country, 363 00:21:21.079 --> 00:21:23.839 you know, for good reason. We've evolved beyond that and 364 00:21:24.200 --> 00:21:28.119 we have the best of both worlds. But this promise 365 00:21:28.200 --> 00:21:33.759 to return manufacturing and coupled with lack of education in 366 00:21:33.799 --> 00:21:37.200 many of the areas that that were sort that were 367 00:21:37.200 --> 00:21:40.640 the sources of US manufacturing, you know, this promise has 368 00:21:40.680 --> 00:21:45.319 been believed, but it's it's very difficult to imagine you know, 369 00:21:45.480 --> 00:21:50.160 you name it the steel industry, or not manufacturing, but 370 00:21:50.240 --> 00:21:53.200 coal mining, or all of these things coming back to 371 00:21:53.279 --> 00:21:57.440 be viable industries within the US simply because we are 372 00:21:57.480 --> 00:22:00.480 isolating ourselves from the world. I mean, that doesn't seem 373 00:22:00.559 --> 00:22:02.880 to be a logical correlation here, and I think a 374 00:22:02.880 --> 00:22:05.720 lot of people are going to be not just disappointed, 375 00:22:06.240 --> 00:22:09.640 but really really hurt financially. 376 00:22:11.640 --> 00:22:15.039 Yeah, and if you saw the recent interview with Bill Gates, 377 00:22:15.759 --> 00:22:19.799 I mean, this is a guy who obviously knows technology 378 00:22:19.880 --> 00:22:22.759 and the potential of how it's going to evolve, and 379 00:22:22.799 --> 00:22:26.039 he's talking about just how we're going to automate almost 380 00:22:26.079 --> 00:22:29.160 everything we do in society, from building a house to 381 00:22:29.400 --> 00:22:34.079 being a physician. So we got to really look at 382 00:22:34.599 --> 00:22:38.000 that and whether we are trying to get back to 383 00:22:38.079 --> 00:22:41.920 a time that doesn't exist anymore, where people work in 384 00:22:42.000 --> 00:22:47.359 factories and we build things by our hands. There's people 385 00:22:47.400 --> 00:22:49.240 who know where this is going. I don't think it's 386 00:22:49.279 --> 00:22:51.839 a mystery. I think a lot of the automation has 387 00:22:51.839 --> 00:22:54.359 already occurred. I mean, I was just talking to somebody 388 00:22:54.359 --> 00:22:57.640 who was in a Tesla plant and he's like, they're 389 00:22:57.640 --> 00:23:00.680 already building this thing pretty much with robots. So if 390 00:23:00.680 --> 00:23:03.519 that's where we're going, you know, that doesn't mean we 391 00:23:03.519 --> 00:23:05.039 don't want that to be in the United States, I 392 00:23:05.039 --> 00:23:08.799 don't think. But it's still a question of we're trying 393 00:23:08.839 --> 00:23:12.759 to get back to a time that essentially doesn't exist anymore, 394 00:23:13.039 --> 00:23:16.279 and nor will it. So we need some economists, we 395 00:23:16.319 --> 00:23:19.960 need some futurists, we need some engineers to start weighing 396 00:23:20.000 --> 00:23:24.839 in on I think policy, because right now it's it's 397 00:23:25.039 --> 00:23:28.039 people who and in some cases, people who are supporting 398 00:23:28.079 --> 00:23:31.359 this that spent their entire you know, decades and decades 399 00:23:31.400 --> 00:23:36.160 long career saying the exact opposite Reaganomics, right, free trade, 400 00:23:36.359 --> 00:23:37.640 I mean they mean saying, I mean most of the 401 00:23:37.680 --> 00:23:41.319