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Tariffs; Financial Risk; Epstein; MTG; Hamas; Settlers; Chile; Mexico; UK | Yaron Brook Show · Yaron Brook Show

• 0:04
  Speaker 1: Fundamental principles. I'll of freedom, little members and individual wats.
• 0:14
  Speaker 2: This is the show, all right, everybody, welcome to here
• 0:21
  Speaker 2: one books show and this uh Monday.
• 0:25
  Speaker 1: November seventeenth. I hope everybody is ready for the week,
• 0:30
  Speaker 1: and we'll be doing shows most most of the week Monday, Tuesday, Wednesday,
• 0:40
  Speaker 1: maybe Thursday. I don't think so. I think I've got
• 0:42
  Speaker 1: a yeah, I've got an interview on Thursday with a
• 0:46
  Speaker 1: New Zealand some some show in New Zealand. So i
• 0:50
  Speaker 1: have to do it at two pm my time, which
• 0:52
  Speaker 1: is like eight am their time or something. Particularly the
• 0:55
  Speaker 1: following day, so some crazy thing, and then I'm on
• 0:58
  Speaker 1: a flight. So no show Thursday, probably no show Friday,
• 1:02
  Speaker 1: no show Saturday Sunday. So Monday will be the next
• 1:06
  Speaker 1: show after that. So just to give you a heads up,
• 1:09
  Speaker 1: all right, let's jump in to the news. We've got
• 1:12
  Speaker 1: kind of a lot of items, none of them super
• 1:15
  Speaker 1: in depth, but a lot of them, just a lot
• 1:18
  Speaker 1: of them, a lot of stuff happening. We'll start with
• 1:22
  Speaker 1: our favorite topic, you know, the topic that we keep
• 1:25
  Speaker 1: coming back to because it is, after all, I'm not
• 1:30
  Speaker 1: going to New Zealand, Michael. They you know, we're doing it.
• 1:34
  Speaker 1: That's why there's a time difference. We're doing it via
• 1:38
  Speaker 1: via the internet, that thing called the Internet. So I'm
• 1:42
  Speaker 1: talking about DII in merit in hiring on New Zealand television.
• 1:49
  Speaker 1: I'm debating some of the guests. I'd love to go
• 1:53
  Speaker 1: to New Zealand. New Zealand is one of my favorite
• 1:56
  Speaker 1: places on planet Earth. So yeah, if anybody can arrange
• 2:00
  Speaker 1: for me a talk in New Zealand, you know, I'm
• 2:03
  Speaker 1: ready to go. I'm ready to go, so so do it. Yeah,
• 2:10
  Speaker 1: let's let's get me to New Zealand. I'm eager, all right.
• 2:15
  Speaker 1: So tariffs a favorite topic, Trump's favorite topic. We could
• 2:19
  Speaker 1: keep coming back to it because it's continuously in your
• 2:21
  Speaker 1: news and uh and uh, you know, Trump keeps bringing
• 2:26
  Speaker 1: it into the news one or the other. Anyway, end
• 2:29
  Speaker 1: of last week, there was this story that came out
• 2:32
  Speaker 1: that Mega and Trump just jumped on. I mean, it
• 2:36
  Speaker 1: made their day. It was so exciting. They were so thrilled.
• 2:39
  Speaker 1: This is the headline. Fed study vindicates Trump trade policy.
• 2:46
  Speaker 1: Fed study vindicates Trump trade policy. One hundred and fifty
• 2:50
  Speaker 1: years of evidence shows tariffs lower inflation. I mean, this
• 2:55
  Speaker 1: is amazing, amazing, a sweeping new analysis of trade policy
• 3:01
  Speaker 1: of tariff policy spending one hundred and fifty years suggests
• 3:04
  Speaker 1: that the economic establishment may have fundamentally misunderstood how tariff's
• 3:08
  Speaker 1: effect prices and employment, a finding with profound implications for
• 3:13
  Speaker 1: understanding President Donald Trump's trade policy and proper response by
• 3:17
  Speaker 1: the Federal Reserve. Researchers at the Federal Reserve Bank of
• 3:21
  Speaker 1: San Francisco examined major tariff changes from eighteen seventy through
• 3:25
  Speaker 1: twenty twenty across the United States and the United Kingdom
• 3:29
  Speaker 1: and France. They conclusion conclusion challenges the conventional wisdom wisdom
• 3:35
  Speaker 1: that dominated economic policy debates in recent years. When countries
• 3:39
  Speaker 1: raise tariff's, prices actually fall, not rise. Okay, yeah, I mean,
• 3:54
  Speaker 1: I'm not going to doubt the empirical prowess of the
• 3:57
  Speaker 1: Federal Reserve Bank of San Francisco and its researchers. So
• 4:01
  Speaker 1: what the hell is going on? Have I been lying
• 4:04
  Speaker 1: to you all these years? And it's been years by
• 4:07
  Speaker 1: telling you the tariffs raise prices, hoot, the economy do
• 4:11
  Speaker 1: bad stuff? No, what is the And a bunch of people,
• 4:21
  Speaker 1: by the way, we tweeted that, we tweeted this study
• 4:24
  Speaker 1: and it went all out and people were thumping their
• 4:28
  Speaker 1: chest and this is amazing and this is great. What
• 4:33
  Speaker 1: actually happens, what is actually going on here? So it
• 4:42
  Speaker 1: does show the tariffs over the long run reduce inflation,
• 4:48
  Speaker 1: not immediately, but over a longer period of time, actually
• 4:51
  Speaker 1: reduced prices. Why do they reduce prices? Why do they
• 4:56
  Speaker 1: reduce prices because they dramatically reduce economic activity. They reduce employment.
• 5:08
  Speaker 1: And as employment goes down and economic activity goes down,
• 5:13
  Speaker 1: people have less money and they basically can afford and
• 5:18
  Speaker 1: buy fewer things. There's less demand, and prices will generally
• 5:23
  Speaker 1: go down, so they go up when tariffs are first introduced,
• 5:26
  Speaker 1: then the economy suffers, and then prices go down a
• 5:31
  Speaker 1: little bit. So, yeah, if what you care about is
• 5:39
  Speaker 1: not sheer prices, right, but what you care about is prosperity,
• 5:46
  Speaker 1: what being economic well being, then tarif's an awful idea.
• 5:52
  Speaker 1: Tariffs seem to be anti inflationary because they result in
• 5:59
  Speaker 1: a week economy. Right, So when the economy goes down,
• 6:11
  Speaker 1: you know, prices are not going to go up. But
• 6:12
  Speaker 1: you know, think about you know one of the big
• 6:15
  Speaker 1: examples of this, and this is not always cause of right,
• 6:18
  Speaker 1: this is the problem with empirical studies, you have to
• 6:20
  Speaker 1: differentiate causality. But think about Smooth Holly, which was passed
• 6:25
  Speaker 1: I think what was in nineteen thirty. So it's passed
• 6:30
  Speaker 1: during the Great Depression. So the Great Depression, you know,
• 6:35
  Speaker 1: you get the stock market collapse, you get a recession,
• 6:38
  Speaker 1: Taxes are raised, all this stuff. It's becoming a depression.
• 6:41
  Speaker 1: Banks are collapsing, and then so demand is collapsing, and
• 6:46
  Speaker 1: then you increase tariffs. Well, yeah, tarist's are not going
• 6:49
  Speaker 1: to raise prices because demand is collapsing around you. So
• 6:57
  Speaker 1: tarists didn't cause the collapse in demand. In that case,
• 7:02
  Speaker 1: it coincided with a collapse in demand. And that's what
• 7:06
  Speaker 1: the study shows. Tariffs, like any tax, reduce economic growth.
• 7:22
  Speaker 1: If you dramatically increase equipate tax or the income tax
• 7:25
  Speaker 1: or any tax, it will have similar effects. Economic growth
• 7:31
  Speaker 1: will go down, unemployment will go up, and prices at
• 7:34
  Speaker 1: the margin will go down because people will have less
• 7:37
  Speaker 1: money to spend. And I don't know, you know why,
• 7:47
  Speaker 1: I guess I don't know why. This is so hard, right, So, yeah,
• 8:04
  Speaker 1: tear us are bad. They're bad. They might not maybe
• 8:08
  Speaker 1: be bad for prices in the long run because they're
• 8:12
  Speaker 1: bad for other stuff that happens to reduce prices along
• 8:16
  Speaker 1: the way. But you just can't. You can't get them
• 8:19
  Speaker 1: on the fact that tariffs are taxes, and taxes reduce activity.
• 8:25
  Speaker 1: Whatever you tax you get less of. Here, you're taxing consumption,
• 8:31
  Speaker 1: you get less of that. Now, you know, maybe that's
• 8:37
  Speaker 1: a good thing for some of you. Maybe you think
• 8:40
  Speaker 1: that's a good thing. It's a good thing if it's
• 8:44
  Speaker 1: the only you know, if you can at the same
• 8:47
  Speaker 1: time reduce taxes on First of all, if you tax
• 8:51
  Speaker 1: all consumption, not just consumption that comes to overseas, thus
• 8:54
  Speaker 1: the study in the market. But if as you tax
• 8:57
  Speaker 1: tax consumption, I'm awful consumption if at the same time
• 9:01
  Speaker 1: you get rid of income taxes, but that is not happening,
• 9:04
  Speaker 1: will not happen. There's no way for that to happen.
• 9:07
  Speaker 1: The consumption tax needs to be fairly high, and it
• 9:10
  Speaker 1: can just be tariffs. It has to be on all goods.
• 9:14
  Speaker 1: And if they did on all goods, then yeah, okay,
• 9:16
  Speaker 1: I'm willing to replace the income tax with the sales tax.
• 9:19
  Speaker 1: I think that would actually have positive economic implications. But
• 9:25
  Speaker 1: then over the weekend, and really he's floated this before.
• 9:30
  Speaker 1: We've talked about this. Trump offered again he's so called
• 9:35
  Speaker 1: tariff dividend. I mean, he came out and said, he
• 9:41
  Speaker 1: literally said this on it for us. One, he said,
• 9:46
  Speaker 1: the tariff allows us to give a dividend if we
• 9:48
  Speaker 1: want to do that. We're going to be doing a
• 9:51
  Speaker 1: dividend which people will enjoy and spend and do what
• 9:55
  Speaker 1: they want. But we're also going to be reducing debt
• 9:59
  Speaker 1: very substantially. Reducing debt very substantially. By the way he promised,
• 10:07
  Speaker 1: this is a first term, and debt only increased dramatically
• 10:11
  Speaker 1: in his first term. But let's remind everybody, because you
• 10:15
  Speaker 1: probably need remind us, debt is increasing every single day.
• 10:21
  Speaker 1: It's increasing at an annual rate of one point eight
• 10:26
  Speaker 1: trillion dollars. One point eight trillion dollars just debt, which means,
• 10:35
  Speaker 1: you know, the current total debt that we have is
• 10:40
  Speaker 1: something like thirty seven thirty eight trillion. We're increasing that
• 10:43
  Speaker 1: about one point eight every year, and of course, because
• 10:45
  Speaker 1: we have to pay interest on that, that is likely
• 10:47
  Speaker 1: to increase. And there is no plan, no plan in Congress.
• 10:52
  Speaker 1: We know what Doge did, bub kiss nothing, as I predicted. Again,
• 10:58
  Speaker 1: as I predicted, did nothing. And the reality is that
• 11:04
  Speaker 1: we're seeing, you know that we're seeing that there's no
• 11:10
  Speaker 1: plan anyway to reduce spending or to increase taxes other
• 11:16
  Speaker 1: than tariffs. But the increase in taxes of tariffs, it's
• 11:21
  Speaker 1: not big enough. It's just not enough revenue. And the
• 11:25
  Speaker 1: reality is that the one point eight to to trillion
• 11:28
  Speaker 1: dollars is after you take into account the increased revenue
• 11:33
  Speaker 1: from tariffs. So it's complete fantasy. So that is not
• 11:43
  Speaker 1: being reduced at all at all. Never mind, as he says,
• 11:47
  Speaker 1: very substantially, it's not even reduced a little bit. Indeed,
• 11:52
  Speaker 1: that is increasing dramatically, substantially every single day, every single
• 11:57
  Speaker 1: moment that the government is opened, that the guvernment is
• 12:00
  Speaker 1: spending money. There's no tariffs, sour plus we raised taxes.
• 12:06
  Speaker 1: More revenue is coming into the government, but not enough
• 12:09
  Speaker 1: to close the deficit. David said, I should trademark to
• 12:17
  Speaker 1: to trillion. I think so too. That should be my
• 12:21
  Speaker 1: my thing to to trillion. Now, what happens if you
• 12:25
  Speaker 1: do two thousand dollars per person. I haven't run the
• 12:28
  Speaker 1: math on how much debt that would increase. But the
• 12:32
  Speaker 1: reality is that, you know, uh, maybe tariffs are three
• 12:39
  Speaker 1: hundred billion. So again, you know, one point nine trillion,
• 12:46
  Speaker 1: one point eight trillion, one point nine trillion, something like that,
• 12:49
  Speaker 1: to to a trillion, not any trillion, just to to
• 12:52
  Speaker 1: t a trillion. And he wants to then pass out
• 12:55
  Speaker 1: two thousand each And what will that do? A that
• 12:59
  Speaker 1: will increase the debt so that that will no longer
• 13:01
  Speaker 1: be one point eight trillion the deficit. The deficit will
• 13:06
  Speaker 1: now increase to one point eight trillion plus two thousand
• 13:09
  Speaker 1: dollars times. However, many people get a check which is
• 13:16
  Speaker 1: hundreds of billions of dollars, so it will be over
• 13:19
  Speaker 1: to trillion. And if you send everybody a check, if
• 13:27
  Speaker 1: you literally take on debt, borrow money and then give
• 13:32
  Speaker 1: people a check in the mail for them to go
• 13:35
  Speaker 1: on and spend the money on stuff, what do you get?
• 13:38
  Speaker 1: What did we learn during the COVID stimulus? That happens
• 13:42
  Speaker 1: when you send everybody a check, When you deposit money
• 13:45
  Speaker 1: in people's bank accounts to spend, you get price inflation,
• 13:52
  Speaker 1: You get increases and prices. People take that money and
• 13:55
  Speaker 1: they go consume. I mean the stupidity, Sorry, but the
• 14:04
  Speaker 1: stupid I'm just doing giving you a a what do
• 14:09
  Speaker 1: you call it? What do you call it a microaggression? Uh,
• 14:13
  Speaker 1: you know, warning, microaggression, warning you might be microaggressed. I
• 14:18
  Speaker 1: said years and years ago that this president's understanding of
• 14:21
  Speaker 1: economics is that of a five year old. And I've
• 14:26
  Speaker 1: been chided for that, and I've been told I shouldn't
• 14:30
  Speaker 1: do that, But you know, the reality is the reality
• 14:33
  Speaker 1: is that he reinforces that every single day. Every single day,
• 14:43
  Speaker 1: you hear something coming out of his mouth that is
• 14:46
  Speaker 1: unbelievably economically ignorant. And you know, he just has an
• 14:53
  Speaker 1: understanding of economic stud is of a five year old.
• 14:55
  Speaker 1: That's just the reality. People around him sell this souls
• 15:01
  Speaker 1: to stay around him because they know better. Did you
• 15:05
  Speaker 1: see the the Treasury Secretary Bessett go on television and
• 15:14
  Speaker 1: tell the American people that the reason beef prices are
• 15:16
  Speaker 1: going up is because illegal immigrants cross the border with
• 15:21
  Speaker 1: their diseased cows, and those diseased cows have infected American
• 15:29
  Speaker 1: cows and they're all dying, and as a consequence, there's
• 15:34
  Speaker 1: less beef, and as a consequence, prices are going up.
• 15:37
  Speaker 1: I didn't realize and maybe you didn't realize this, see
• 15:41
  Speaker 1: that that illegal immigrants are crossing in from the border
• 15:47
  Speaker 1: with cows. I mean, I mean, how absurd, ridiculous, stupid
• 15:56
  Speaker 1: is that. I mean they can barely make it across themselves,
• 16:05
  Speaker 1: and those cows are not deported. I mean he literally
• 16:09
  Speaker 1: said this. I saw the video of him saying this
• 16:11
  Speaker 1: on Fox. It's of course. So here's the point. Jd
• 16:17
  Speaker 1: Vance is going on TV telling you that home prices
• 16:21
  Speaker 1: are higher, that high home prices are the consequence of
• 16:24
  Speaker 1: illegal immigrants. Of course, crime is increasing somewhere, I guess
• 16:31
  Speaker 1: because of illegal immigrants. And of course you're paying higher
• 16:40
  Speaker 1: beef prices because of illegal immigrants. These people, I mean,
• 16:48
  Speaker 1: think we're stupid. First of all, they are sick, but
• 16:52
  Speaker 1: they think we're stupid. Every problem in America, which is
• 17:00
  Speaker 1: I guess, I guess we are stupid because the reality
• 17:03
  Speaker 1: is this is this is this is the campaign Donald
• 17:06
  Speaker 1: Trump brand in twenty fifteen, and and now every problem
• 17:11
  Speaker 1: in America can be can be it can be reduced
• 17:15
  Speaker 1: to one source. Every problem that you have in your
• 17:18
  Speaker 1: personal life. The fact that you don't have a job,
• 17:21
  Speaker 1: the fact that you cannot get health insurance, the fact
• 17:24
  Speaker 1: that you can't get a home, the fact that your
• 17:26
  Speaker 1: beef prices are going up, the fact, all these things
• 17:30
  Speaker 1: and more crime, everything, every problem in America today is
• 17:35
  Speaker 1: caused by yes, you guessed it, illegal immigrants. But we're not.
• 17:43
  Speaker 1: You know, we're not you know, phobica anything like that.
• 17:44
  Speaker 1: We just it's just it's just a fact, you know,
• 17:47
  Speaker 1: just look at the numbers. So yeah, this is this
• 17:52
  Speaker 1: is where we are. I mean, I mean, Besic really
• 17:55
  Speaker 1: said this. And he's smart, you know, he he I
• 17:59
  Speaker 1: think he sometimes gets into a corner during an interview
• 18:03
  Speaker 1: and he just doesn't know where to go with it,
• 18:07
  Speaker 1: and so he makes shit up. He just makes it
• 18:10
  Speaker 1: up on the spot. I can't imagine he thinks this
• 18:13
  Speaker 1: in advance. He just comes out and he's probably super
• 18:16
  Speaker 1: embarrassed afterwards. Yeah, somebody says, Ike says, it's the new Jews. Yes,
• 18:23
  Speaker 1: And I said this in twenty fifteen. I told you
• 18:26
  Speaker 1: this exactly, you know, I said, Trump's campaign is all
• 18:30
  Speaker 1: based on the idea that all your problems, every single
• 18:34
  Speaker 1: problem that you have, is caused by the other, the other.
• 18:40
  Speaker 1: And since it's not politically correct at least, it wasn't
• 18:42
  Speaker 1: in twenty fifteen to name the other as the Jew,
• 18:47
  Speaker 1: which is what they've done in Europe for hundreds of years,
• 18:52
  Speaker 1: will use illegal immigrants or immigrants more broadly as the cause,
• 18:57
  Speaker 1: or Chinese or whatever. Right, but immigrants, Yeah, I mean yes,
• 19:02
  Speaker 1: this has been evident now for nine years, ten well,
• 19:05
  Speaker 1: twenty twenty four, ten years, ten years. This has been
• 19:09
  Speaker 1: going out and he keeps doing it because it works politically,
• 19:14
  Speaker 1: because it's easy for the I guess throngs of mindless
• 19:22
  Speaker 1: Americans to say, yeah, yeah, illegal immigrants, they're the problem.
• 19:26
  Speaker 1: They're the ones, they're the ones harassed, you know, they're
• 19:29
  Speaker 1: the ones destroying our economy, destroying a world. It's not tariffs.
• 19:39
  Speaker 1: Couldn't be tariffs. There's no way it's tariffs that is
• 19:44
  Speaker 1: not destroying anything. One other thing that came out when
• 19:56
  Speaker 1: was this Friday or maybe earlier today, earlier today, is
• 20:02
  Speaker 1: about this reindustrialization of America. Remember that we were going
• 20:06
  Speaker 1: to reindustrialize. Tariffs were going to make things so expensive
• 20:11
  Speaker 1: we stop buying them, and there for companies would have
• 20:13
  Speaker 1: to start building them in America. So we would have
• 20:16
  Speaker 1: this huge increase in building factories and manufacturing, and we
• 20:22
  Speaker 1: would have a renaissance in manufacturing and a massive massive
• 20:27
  Speaker 1: growth in industrialization. Reindustrialization. Well, I mean, according to the
• 20:34
  Speaker 1: Southern Business and Development Project, the Southern Business Development you know,
• 20:40
  Speaker 1: I guess it's a newspaper, business publication. You know. Project
• 20:45
  Speaker 1: activity that is, activity of building manufacturing plans in twenty
• 20:51
  Speaker 1: twenty five has been the worst in its thirty one
• 20:55
  Speaker 1: years of covering manufacturing and plant expansion. It's actually construction.
• 21:03
  Speaker 1: It's actually construction of new manufacturing facilities. It doesn't include
• 21:12
  Speaker 1: AI because that's not manufacturing. Is that the lowest that's
• 21:18
  Speaker 1: been since they started measuring this thirty one years ago?
• 21:25
  Speaker 1: I don't know. I guess maybe maybe some of US
• 21:29
  Speaker 1: economists will write, maybe, I mean, I shouldn't call myself
• 21:34
  Speaker 1: an economist. Maybe some of those smart economists will write,
• 21:37
  Speaker 1: maybe economics has some use, some valid Sometimes that's right.
• 21:49
  Speaker 1: And on top of that, according to the ISM Manufacturing Index,
• 21:58
  Speaker 1: which is an index of manufacturing in the United States,
• 22:03
  Speaker 1: it has now fallen to forty eight point seven, which
• 22:12
  Speaker 1: is under fifty. Under fifty suggests contraction, that is manufacturing
• 22:17
  Speaker 1: is actually contracting. And indeed, it turns out the US
• 22:23
  Speaker 1: manufacturing sector has been in recession I eat contracting for
• 22:28
  Speaker 1: thirty four of the last thirty six months. So it
• 22:32
  Speaker 1: didn't start with Trump. It started with Biden. But manufacturing
• 22:41
  Speaker 1: shrinking in the United States. We're not reindustrializing, we're continuing
• 22:47
  Speaker 1: or accelerating the industrialization. Again, economists said that terrafts would
• 22:55
  Speaker 1: not result in reindustrialization. The terrafts don't lead to more industry.
• 23:01
  Speaker 1: I don't know those economists, pesky scientists. It's awful. It
• 23:04
  Speaker 1: really is terrible. It doesn't stop Mega, doesn't stop Trump.
• 23:10
  Speaker 1: It doesn't stop any of these people from continuing. But
• 23:16
  Speaker 1: really Trump knows this and his administration know this. Because
• 23:23
  Speaker 1: any sector where there's some trouble, or any sector that
• 23:28
  Speaker 1: might actually lead to economic growth in the United States,
• 23:31
  Speaker 1: what does Trump do cuts tariffs? I mean, you know,
• 23:40
  Speaker 1: think about think about the fact that when it comes
• 23:42
  Speaker 1: to AI, computers, electronics, phones, anything to do with tech,
• 23:55
  Speaker 1: that's all exam from traffs. It's all example. Why is
• 23:58
  Speaker 1: it example? Because house are harmful and we don't want
• 24:02
  Speaker 1: this industry to be harmed, so we exempt it. I mean,
• 24:07
  Speaker 1: we've exempted energy from Canada because we need energy and
• 24:11
  Speaker 1: we need to drive prices down not up, so we're
• 24:13
  Speaker 1: not tariffing it. I mean, god, eggs from Turkey exempt
• 24:18
  Speaker 1: for tariff's why because we want to lower cost for consumers.
• 24:21
  Speaker 1: And we know tariff increased costs, so we're going to
• 24:24
  Speaker 1: lower costs by exempting them. How about beef from Argentina,
• 24:30
  Speaker 1: same thing. How about as a Friday fertilizer from pretty
• 24:35
  Speaker 1: much anyway. Yeah, we need to help those farmers, so
• 24:40
  Speaker 1: we're not going to tariff the goods that they use,
• 24:43
  Speaker 1: and of course coffee and bananas and you know, stuff
• 24:47
  Speaker 1: that you would put in your grocery bag. And you're
• 24:52
  Speaker 1: complaining about cost of living going up. So they cut tariffs,
• 24:55
  Speaker 1: which suggest that it was that Taos we prices in
• 25:01
  Speaker 1: spite of the FED study. Here's a good quote, thanks
• 25:12
  Speaker 1: to President Trump for removing the tariffs President Trump placed
• 25:16
  Speaker 1: on these agricultural products. This is what winning looks like.
• 25:21
  Speaker 1: Placing tariffs, seeing costs rise, people upset, and then lowering
• 25:26
  Speaker 1: them to appease the people who got upset. I mean,
• 25:33
  Speaker 1: I think, you know, his his popularity numbers are dropping
• 25:38
  Speaker 1: like a rock, and I think or dropping. I mean
• 25:41
  Speaker 1: they were already low. By dropping, and so I think
• 25:43
  Speaker 1: people are starting to figure it out, starting to figure
• 25:46
  Speaker 1: out maybe maybe, I mean, I think this will require
• 25:50
  Speaker 1: the second coming. Maybe some of the people who criticized
• 25:53
  Speaker 1: me for criticizing Trump on tariffs will show up on
• 25:57
  Speaker 1: my chat one of these days and apologize, maybe but
• 26:02
  Speaker 1: probably not, probably not. And then on top of this,
• 26:12
  Speaker 1: the reality is the tariffs are just you know, this
• 26:16
  Speaker 1: is this is from an article I think by let
• 26:22
  Speaker 1: me just see. I think it's by Scott linscom No, well, no,
• 26:26
  Speaker 1: it's by an article in Politico, and it says business
• 26:30
  Speaker 1: from Wall Street to Main Street struggling to comply with
• 26:33
  Speaker 1: President Trump's byzantine teriff regime, driving up costs and counteracting
• 26:39
  Speaker 1: for some the benefits of the corporate tax cut Republicans
• 26:42
  Speaker 1: passed earlier this year. I'm reading for the article to
• 26:46
  Speaker 1: give an example. An industrial product that faces a monthly
• 26:49
  Speaker 1: uniform five percent tariff rate in the past would now
• 26:53
  Speaker 1: be taxed at fifteen percent if it comes from the
• 26:56
  Speaker 1: EU or Japan, twenty percent from Norway and the African countries,
• 27:01
  Speaker 1: twenty four to twenty five percent from countries in Southeast Asia,
• 27:05
  Speaker 1: and upwards a fifty percent from India, Brazil or China.
• 27:11
  Speaker 1: This has been an exhausting year, I'd say for most
• 27:14
  Speaker 1: CEOs in the country. This quoting Aco, the level of
• 27:20
  Speaker 1: executive time that's been put in into this into a
• 27:24
  Speaker 1: county foulders and dealing with it from a management perspective
• 27:29
  Speaker 1: as being enormous. So instead of focusing on innovation or
• 27:33
  Speaker 1: for example, growth, they're focusing on how they deal with tariffs.
• 27:43
  Speaker 1: Upping the pressure, the Justice Apartment has announced that it
• 27:47
  Speaker 1: intends to make the prosecution of customs fought one of
• 27:51
  Speaker 1: its top priorities. Now they're going to go see these companies,
• 27:56
  Speaker 1: go after these companies for customs fraud. The proliferation of
• 28:02
  Speaker 1: trade regulation and threat of intensified enforcement has driven many
• 28:07
  Speaker 1: companies to beef up their staff and spend what could
• 28:09
  Speaker 1: add up to tens of millions of dollars to ensure
• 28:12
  Speaker 1: that they are not running afoul of Trump's requirements. The
• 28:17
  Speaker 1: time and expense involved, combined with the tens of billions
• 28:20
  Speaker 1: of dollars in higher tariffs that companies are paying each
• 28:23
  Speaker 1: month to import goods, amount to a massive burden that
• 28:26
  Speaker 1: is weighing down industries traditionally reliance on imported products, and
• 28:31
  Speaker 1: it's denting for some the impact of the hundreds of
• 28:35
  Speaker 1: billions of dollars of tax cuts that companies will receive
• 28:38
  Speaker 1: over the next decade via the One Big Beautiful Bill
• 28:41
  Speaker 1: Act championed by the White House. Can I say it?
• 28:51
  Speaker 1: I think I should say it. I told you so.
• 28:58
  Speaker 1: I mean, tariffs are massive economic distortion. They misallocate labor,
• 29:06
  Speaker 1: they misallocate time, they misallocate thought, they distort prices, and
• 29:15
  Speaker 1: they were hidden or not so hidden tax on all Americans.
• 29:22
  Speaker 1: It's not good. It's really, really, really bad. And you know,
• 29:31
  Speaker 1: at some point people are gonna have to figure this out,
• 29:34
  Speaker 1: and maybe maybe there'll be growing pressure on this administration too.
• 29:39
  Speaker 1: I mean, if Trump really wants to help American consumers
• 29:42
  Speaker 1: and lower the cost of living for Americans and reduce costs,
• 29:47
  Speaker 1: it's actually you know, he could actually have a big impact.
• 29:53
  Speaker 1: Just eliminate all tariffs on all goods forever, zero them out, zero.
• 30:00
  Speaker 1: And I mean the economic boost that that would provide,
• 30:07
  Speaker 1: the economic boost that would provide to Americans would be
• 30:10
  Speaker 1: stunning and unprecedented. Right, But you know that will never happen.
• 30:34
  Speaker 1: You know that will never happen. All Right, Charles bud
• 30:39
  Speaker 1: just gifted ten memberships, and I just gifted five. I'm
• 30:45
  Speaker 1: gonna gift another five. What the hell today? We're generous today, right,
• 30:49
  Speaker 1: So we're going to gift another five. All right, So
• 30:54
  Speaker 1: we've added twenty members to our roster. That god, I mean,
• 30:59
  Speaker 1: that makes me you're guilty because I haven't done a
• 31:02
  Speaker 1: members only show in a while. But I'll do one.
• 31:06
  Speaker 1: I'll do one soon and and and we'll have twenty
• 31:10
  Speaker 1: new members who will be able to watch it. In
• 31:12
  Speaker 1: the meantime, you guys who are gifted membership should go
• 31:16
  Speaker 1: and check out all the old members only shows and
• 31:19
  Speaker 1: you can catch up on all of those and and
• 31:22
  Speaker 1: and enjoy those before I do it nixt one. All right,
• 31:27
  Speaker 1: So that's type of insanity. It's once a week. We're
• 31:31
  Speaker 1: going to have to cover that, or at least when
• 31:33
  Speaker 1: when you know, these idiots do new stupid things, we'll
• 31:36
  Speaker 1: have to cover it. The other show I want to
• 31:41
  Speaker 1: talk about this someone related to haves and generally related
• 31:44
  Speaker 1: to the economy, is I just want to put out
• 31:48
  Speaker 1: a warning out there, a wanting out there that there's
• 31:53
  Speaker 1: some real financial risks and that we should all just
• 31:57
  Speaker 1: be paying attention to. I don't like calling recessions, and
• 32:01
  Speaker 1: every time I do, I you know it's not successful
• 32:06
  Speaker 1: because you know, there hasn't been a recession in a
• 32:08
  Speaker 1: very long time, a very long time. I mean, we
• 32:12
  Speaker 1: had a recession kind of in COVID, but that was
• 32:15
  Speaker 1: artificially created. We haven't had really a recession recession, you know,
• 32:19
  Speaker 1: since the Great Financial Crisis. That's ridiculous, given the amount
• 32:27
  Speaker 1: of manipulation of economy, the inflation, the manipulation of interest rates,
• 32:33
  Speaker 1: the government spending, the bailouts, and we haven't really had
• 32:42
  Speaker 1: a financial crisis. We really haven't had a financial crisis
• 32:45
  Speaker 1: since two thousand and eight, and we do it's sixteen years.
• 32:51
  Speaker 1: I don't think there's cycles, but you know, every couple
• 32:56
  Speaker 1: of decades, suddenly every fifteen years or so, there seems
• 32:58
  Speaker 1: to be something, something happens. I don't think we've solved that.
• 33:01
  Speaker 1: I don't think we found the formula never to have
• 33:04
  Speaker 1: another financial crisis, so never have another recession. That is
• 33:07
  Speaker 1: not in the cards, although we have replaced volatility with
• 33:10
  Speaker 1: just slower economic growth. Economic economy is barely growing or
• 33:14
  Speaker 1: growing very slowly, but still. And there's just a lot
• 33:19
  Speaker 1: of stuff going on out there that I think you
• 33:22
  Speaker 1: just need, we all need to be just aware of
• 33:25
  Speaker 1: as we think about the future. And I'm not going
• 33:27
  Speaker 1: to tell you what to do about it, and I'm
• 33:29
  Speaker 1: not sure what to do about it. I'm not sure
• 33:31
  Speaker 1: what I am going to do about it other than
• 33:34
  Speaker 1: be aware and you know, consider how you want to
• 33:42
  Speaker 1: protect yourself. Here's the reality. The economy right now is
• 33:48
  Speaker 1: basically growing because of massive infrastructure spending into AI. Does
• 33:55
  Speaker 1: all the spending make sense? Spending is almost all funded
• 33:59
  Speaker 1: through debt? Is that debt going to be paid back?
• 34:06
  Speaker 1: How much of it? When some failures? How big are
• 34:17
  Speaker 1: they going to be? Is AI really as good as
• 34:25
  Speaker 1: they think it is? And is scaling the number of servers?
• 34:28
  Speaker 1: What is actually going to make it, you know, earth
• 34:33
  Speaker 1: shadowing completely changing the world in which we live. I mean,
• 34:37
  Speaker 1: it's already doing a lot, but is it just scaling
• 34:40
  Speaker 1: up the server is going to make it better? So
• 34:43
  Speaker 1: much better as to justify trillions and trillions of dollars?
• 34:47
  Speaker 1: And this is a trillions of dollars of new money
• 34:52
  Speaker 1: flowing into it. I mean, I saw a story today
• 34:58
  Speaker 1: about Peter t Or selling his in Nvidia investment and
• 35:04
  Speaker 1: getting out in Nvidia as some other big investment names.
• 35:09
  Speaker 1: I don't know. I don't know if it's the time
• 35:11
  Speaker 1: to get out. But are the valuations of these companies
• 35:16
  Speaker 1: do they make sense? Is it some point could the
• 35:21
  Speaker 1: mood in Wall Street change around AI? In its prospect
• 35:29
  Speaker 1: for the future, given that it's not clear where the
• 35:31
  Speaker 1: cash comes from, it how you make money, it's not
• 35:34
  Speaker 1: clear how you pay back all this debt. So there
• 35:41
  Speaker 1: is the whole AI bubble that people are talking about,
• 35:44
  Speaker 1: and I do think it's a bubble. Now, you could
• 35:47
  Speaker 1: take the Jetpizos approach, which I think is true, that
• 35:50
  Speaker 1: it's kind of a bubble that builds infrastructure and when
• 35:52
  Speaker 1: it boosts a lot of people will lose money, but
• 35:56
  Speaker 1: the infrastructure will be then will be used and it
• 35:58
  Speaker 1: will be valuable. Okay, but people will lose money, and
• 36:01
  Speaker 1: it's not clear who the people who lose the money
• 36:04
  Speaker 1: are who gets hoods. I mean it's primarily private equity
• 36:11
  Speaker 1: and big banks and that are jumping into funding all this.
• 36:15
  Speaker 1: Everybody's afraid to be left behind. And then of course
• 36:18
  Speaker 1: it's a stock market, which is that all time highs
• 36:21
  Speaker 1: historical valuations, I mean historical, maybe hysterical, I don't know,
• 36:26
  Speaker 1: but certainly historical valuations are they justified? Could we see
• 36:31
  Speaker 1: the market stock market go down ten twenty thirty percent,
• 36:36
  Speaker 1: It wouldn't be unusual. Stock markets often go down, well,
• 36:39
  Speaker 1: not often, but over you know, once every couple of decades. Certainly,
• 36:45
  Speaker 1: you know, thirty thirty five percent, is that possible? If
• 36:49
  Speaker 1: that happens. What happens. There's a lot of debt out
• 36:56
  Speaker 1: in the economy, private equity firms, it's in the banks,
• 37:01
  Speaker 1: it's actually private equity, massive amounts of debt. And to
• 37:06
  Speaker 1: at a wrinkle to that, there's a lot of there's
• 37:10
  Speaker 1: a lot of risk in places where they never used
• 37:15
  Speaker 1: to be, like insurance, insurance used to be. You know,
• 37:20
  Speaker 1: to pay off the insurance, you used to basically buy
• 37:23
  Speaker 1: bonds and maybe buy some stocks with buy bonds. Primarily
• 37:26
  Speaker 1: bonds are safe, you get paid, it's predictable. But there's
• 37:33
  Speaker 1: some argument that you know, in order to generate more returns,
• 37:37
  Speaker 1: as private equity have been buying insurance companies and off
• 37:42
  Speaker 1: showing a lot of the reinsurance has always been offshore
• 37:45
  Speaker 1: where there's less regulation. But the argument is that maybe
• 37:49
  Speaker 1: there's a lot of risk being taken on a lot
• 37:53
  Speaker 1: of unusual types of debt, a lot of unusual type
• 37:56
  Speaker 1: of security is being taken on that maybe we weren't
• 38:00
  Speaker 1: in the past because insurance was conservative and simple and predictable,
• 38:07
  Speaker 1: and now it's not. Could we see crisis coming from there?
• 38:14
  Speaker 1: It is hard to tell. Although a lot of financial
• 38:20
  Speaker 1: publications are warning against the insurance sector, warning about the
• 38:26
  Speaker 1: insurance sector and maybe taking on a lot of risk
• 38:30
  Speaker 1: in the insurance sector. Again, remember these are all regulated products,
• 38:36
  Speaker 1: these all regulated industries, and they're all the regulations create
• 38:40
  Speaker 1: distortions and provisions, and you know, who knows. It really
• 38:47
  Speaker 1: is hard to tell. It's not that insurance is bad
• 38:52
  Speaker 1: or evil or anything. It's just that it's a paque opaque.
• 38:58
  Speaker 1: A lot of people have annuities. I always recommend against
• 39:02
  Speaker 1: getting annuities, but people get annuities. I mean they rely
• 39:06
  Speaker 1: on the insurance company's remaining solvents and that the reinsurance
• 39:08
  Speaker 1: companies can back up the insurance company. And given the
• 39:12
  Speaker 1: kind of regulations and given the incentives, it's you know,
• 39:17
  Speaker 1: it's hard to be saying when in this financial world,
• 39:21
  Speaker 1: in the financial industry, that we have to be to fail.
• 39:25
  Speaker 1: You know, all kinds of bad incentives out there. So
• 39:30
  Speaker 1: I don't know. I mean, there really seems to be
• 39:34
  Speaker 1: a lot of pressure right now financial times. We'll see
• 39:37
  Speaker 1: journal others a Bloomberg emphasizing the risks that seem to
• 39:42
  Speaker 1: be it seems to be being accumulated in all these
• 39:46
  Speaker 1: different places and insurance. Do you remember we talked about Strategy,
• 39:56
  Speaker 1: the Bitcoin company of Salo's Bitcoin company company that basically
• 40:02
  Speaker 1: it buys bitcoin and then trades at many multiple of
• 40:06
  Speaker 1: the bitcoin price. Well, strategy is down like fifty percent
• 40:12
  Speaker 1: over the last few months. People have finally figured out
• 40:15
  Speaker 1: that it was ridiculous, didn't make any sense. And indeed,
• 40:22
  Speaker 1: bitcoin itself about just over a month after it reached
• 40:28
  Speaker 1: an all time high, bitcoins basically erased all its gains
• 40:34
  Speaker 1: for the year and it's flat for the year. And
• 40:39
  Speaker 1: the problem the thing about bitcoin right, the thing about
• 40:41
  Speaker 1: bitcoin is that as it declines, a lot of people
• 40:46
  Speaker 1: who use debt in order to finance bitcoin are going
• 40:49
  Speaker 1: to have to sell bitcoin to repay the debt, which
• 40:52
  Speaker 1: will place more downward pressure on it. Now, I don't know.
• 40:55
  Speaker 1: I'm not predicting bitcoin crisis generally today. I'm not predicting anything.
• 40:58
  Speaker 1: I'm just warning there are a lot of these warning
• 41:02
  Speaker 1: signs out there. There's a lot of risk in the system,
• 41:09
  Speaker 1: and our economy is not heading towards some Golden age
• 41:14
  Speaker 1: renaissance are booming boom. We're not heading towards three four
• 41:19
  Speaker 1: five percent GDP growth. If we get too were lucky.
• 41:28
  Speaker 1: So you know, I don't know. I am worried about
• 41:31
  Speaker 1: where we are. I'm worried about finances. I'm you know,
• 41:34
  Speaker 1: financial sector. I'm worried about the economy. Stable coins are gonna,
• 41:40
  Speaker 1: you know, increasing significantly, and they didn't become a big
• 41:42
  Speaker 1: chunk of the economy. I don't know that people really
• 41:45
  Speaker 1: thought through stable coins. I hope they have. I mean,
• 41:48
  Speaker 1: they can make a lot of sense, but they have implications.
• 41:56
  Speaker 1: It's a way to monetize our debt. It's a way
• 41:58
  Speaker 1: to turn debt government dad into money directly. It's money
• 42:04
  Speaker 1: that we will be using those coins. You'll be using
• 42:06
  Speaker 1: those coins. Yeah, we're in some interesting times and some
• 42:16
  Speaker 1: potentially troublesometimes. I don't want to be a feamong I
• 42:20
  Speaker 1: don't like feamal going. And I'm not predicting any I'm
• 42:24
  Speaker 1: not predicting recession, although I'm predicting slow economic growth if any.
• 42:28
  Speaker 1: And I'm just warning that there are a lot of
• 42:32
  Speaker 1: flashing red lights out there, lots of flashing red lights
• 42:38
  Speaker 1: out there. Okay, just a few smaller items we've got left.
• 42:48
  Speaker 1: We've got a bunch of them, but we've got some
• 42:50
  Speaker 1: of them, all right, let's start with let's start with,
• 42:55
  Speaker 1: uh the m not that? Not that all right? We
• 42:59
  Speaker 1: want to with Epstein, Epstein, Epstein, Epstein, Jeffrey Epstein, the
• 43:06
  Speaker 1: Jeffrey Epstein scandal that keeps on giving, it just doesn't
• 43:10
  Speaker 1: go away, disappeared. Well. Anyway, Congress is about to vote
• 43:15
  Speaker 1: on basically demanding that the Justice Department release all the
• 43:20
  Speaker 1: Epstein files. Over the weekend, it looked the Republicans clearly
• 43:25
  Speaker 1: had a majority or no. Democrats clearly had a majority
• 43:28
  Speaker 1: to vote on this, and it looked like significant number
• 43:33
  Speaker 1: of Republicans will go into bolt and go against Trump. Trump,
• 43:37
  Speaker 1: who's been trying not to release the files, demanding for
• 43:41
  Speaker 1: the files not to be released. It seemed like about
• 43:44
  Speaker 1: one hundred Republicans were going to vote to have them
• 43:47
  Speaker 1: released in spite of Donald Trump. This is the one thing,
• 43:50
  Speaker 1: the one issue that they're willing to go against Trump.
• 43:54
  Speaker 1: It's Epstein. Epstein is the one thing they will need
• 43:56
  Speaker 1: to go against Trump. Anyway, The vote is tomorrow, and
• 44:01
  Speaker 1: it looked like they were gonna bolt on him. So
• 44:04
  Speaker 1: Trump did what he often does after you know, a
• 44:11
  Speaker 1: weeks of trying to block the House vote, you know,
• 44:15
  Speaker 1: going after different Congress members, trying to argue with them,
• 44:18
  Speaker 1: trying to force them, twisting arms and everything. It's clear
• 44:23
  Speaker 1: now that he's going to lose the vote, so he
• 44:26
  Speaker 1: is pretending he's mean for it all along, which is
• 44:31
  Speaker 1: classic Trump, right. Uh. And you know he writes, as
• 44:36
  Speaker 1: I said on Friday night about Fox one, to the
• 44:38
  Speaker 1: fake news media, which he talks to all the time,
• 44:40
  Speaker 1: acause House Republicans should vote to release the Epstein files
• 44:43
  Speaker 1: because we have nothing to hide and it's time to
• 44:46
  Speaker 1: move on from this Democratic hoax perpetrated by radical left
• 44:51
  Speaker 1: lunatics in order to deflect the great success of the
• 44:54
  Speaker 1: Republican Party, including our recent victory on democratic shutdown. The
• 44:58
  Speaker 1: Department of Justice has already he turned over tens of
• 45:00
  Speaker 1: thousands of pages to the public. Epstein, remember he opposed
• 45:05
  Speaker 1: all of this. Are looking at various Democratic operatives. Bill Clinton,
• 45:09
  Speaker 1: Reid Hoffman, Larry Summers and their relationship to Epstein and
• 45:13
  Speaker 1: their House Oversight Committee can have whatever they are legally
• 45:17
  Speaker 1: entitled to. We'll get to that in a minute. I
• 45:19
  Speaker 1: don't care, he says. All I do care about is
• 45:23
  Speaker 1: that Republicans get back on point, which is the economy affordability,
• 45:27
  Speaker 1: which he is destroying where we are winning big Oh no,
• 45:30
  Speaker 1: you're losing, actually a victory and reducing inflation for the
• 45:33
  Speaker 1: highest level in history, in history. Take a moment to
• 45:39
  Speaker 1: laugh out loud on this one. If reducing it for
• 45:42
  Speaker 1: the highest level in history, maybe in the universe and
• 45:48
  Speaker 1: all the rest. So he goes on all the achievement,
• 45:51
  Speaker 1: all of us. He says, nobody cared about Jeffrey Epstein
• 45:55
  Speaker 1: when he was alive, and if the Democrats had anything,
• 45:58
  Speaker 1: they would have released it before the landslide victory landslide.
• 46:01
  Speaker 1: Some members of the publican body, are being used, and
• 46:04
  Speaker 1: we can't let that happen. Let's start talking about the
• 46:07
  Speaker 1: Republican Party success. Da da da da. All right, that's
• 46:12
  Speaker 1: what he came out of. And now he's backing the vote.
• 46:16
  Speaker 1: They will vote to release the files. But this is
• 46:19
  Speaker 1: the thing. They can't release them. And this is Trump's
• 46:24
  Speaker 1: you know, clever trickery. Right. So Trump realized he's going
• 46:29
  Speaker 1: to lose the House vote. See comes and says, yeah,
• 46:33
  Speaker 1: vote yes on this, release the files. But then he
• 46:38
  Speaker 1: tells that Justice Bumber start investigating Democrats based on those files.
• 46:46
  Speaker 1: So when Congress goes to Justice Barnument asks for the files.
• 46:50
  Speaker 1: The Justice devartmer is going to say, we can't release them.
• 46:54
  Speaker 1: We're in the middle of an investigation. And Trump can say, well,
• 47:00
  Speaker 1: I wanted to release It's not my fault. I'm there's
• 47:03
  Speaker 1: nothing there about me, so I don't care. So yes,
• 47:12
  Speaker 1: Trump has been avoiding the release of these forever. You know,
• 47:19
  Speaker 1: who knows why. You can use your imagination to figure
• 47:22
  Speaker 1: out why. But now he wants them released because he
• 47:28
  Speaker 1: thinks that by telling Justice Department to investigate that they
• 47:32
  Speaker 1: won't be able to release the stuff. Who knows. We
• 47:36
  Speaker 1: will see what happens in the meantime. He said, this
• 47:40
  Speaker 1: massive falling out with Marjorie Taylor Green, you know, the
• 47:45
  Speaker 1: lynchman of his coalition, the same you know, the sane, reasonable,
• 47:51
  Speaker 1: rational Marjorie Taylor Green. Jewish Space lays Marjorie Taylor Green,
• 47:56
  Speaker 1: who is now coming out and apologizing all over the
• 48:01
  Speaker 1: place for her toxic politics. She's criticizing Trump, primarily on
• 48:07
  Speaker 1: the Epstein files. This is what she cares about. She
• 48:13
  Speaker 1: said in an interview on CNN CNN humbly, I'm sorry
• 48:20
  Speaker 1: for taking part in the toxics, toxic politics. I'm committed
• 48:24
  Speaker 1: and I've been working on this a lot lately to
• 48:27
  Speaker 1: put down the knives in politics. I really just want
• 48:31
  Speaker 1: to see people be kind to one another. This is
• 48:36
  Speaker 1: Marjorie Taylor Green. This is the most toxic congress woman
• 48:44
  Speaker 1: out there on the right. There's a bunch of them
• 48:47
  Speaker 1: on the left. And of course she's being criticized by
• 48:55
  Speaker 1: Matt Walsh because we're probably gans on our toxic it's
• 48:59
  Speaker 1: Democrats that are toxic because Democrats killed Charlie Cook. Leftists right, leftists.
• 49:05
  Speaker 1: You know, not one many killed Charlie Cook. No leftists
• 49:13
  Speaker 1: killed him. Have we seen any proof that there was
• 49:15
  Speaker 1: more than one guy anything? Yeah, So, Anjie Taylor Green
• 49:23
  Speaker 1: is now presenting yourself as moderate, as nice, as friendly,
• 49:29
  Speaker 1: as wanting to bring the country together, as uniting us
• 49:33
  Speaker 1: all this complete nutcase, complete nutcase. So it's going to
• 49:46
  Speaker 1: be interesting. It's going to be interesting now that she
• 49:49
  Speaker 1: had a fight with Trump and that they are you know,
• 49:55
  Speaker 1: they're not on the same site. Does she even get reelected?
• 49:59
  Speaker 1: Is there primary challenge to her? Does somebody else take
• 50:03
  Speaker 1: her job? She's ready. There were some rumors that you
• 50:04
  Speaker 1: would run for senate. She's not running for senate. But
• 50:08
  Speaker 1: she couldn't win. Now that she's got Trump against her.
• 50:14
  Speaker 1: All right, let's do some farm policy stuff. You know,
• 50:17
  Speaker 1: we've got a Trump's peace deal in Gaza. We've were
• 50:22
  Speaker 1: waiting for Hamas to be disarmed and to be displaced
• 50:28
  Speaker 1: from leadership in the Gaza strip, but the reality is
• 50:33
  Speaker 1: that that's not happening. Hamas is stockpiling advanced weapons systems
• 50:39
  Speaker 1: in other countries, waiting for the opportunity to smuggle it
• 50:43
  Speaker 1: into Gaza, waiting for the Israelis to lower their focus
• 50:48
  Speaker 1: for a little bit and they will smuggle it into Gaza.
• 50:53
  Speaker 1: Hamas is actually more popular. Is popularity is rising in Gaza.
• 51:00
  Speaker 1: You know, they basically establishing rule, you know, h law
• 51:06
  Speaker 1: and oda. None of these gangs roaming around now. Ramas
• 51:10
  Speaker 1: is the you know, in gang warfare, this is what
• 51:12
  Speaker 1: happens with anarchy. One gang dominates and people are relieved
• 51:17
  Speaker 1: because gang warfare is worse than have one is worse
• 51:21
  Speaker 1: than having one orthobitarian gang. Every time we see a
• 51:24
  Speaker 1: place like Gaza, you get more proof that anarchy doesn't work.
• 51:30
  Speaker 1: And nobody wants to send troops into the except one country.
• 51:32
  Speaker 1: The only country that's willing to send troops into Gaza
• 51:36
  Speaker 1: is Turkey, and Israel's like uh uh no Turkish Turkish
• 51:41
  Speaker 1: troops in Gaza. We don't trust them. They are enemy.
• 51:44
  Speaker 1: We're not putting tucks into Gaza. Nobody else wants to
• 51:48
  Speaker 1: send troops in there because they know it's brutal. Hamas
• 51:54
  Speaker 1: doesn't want a disarm Hamas is no incentive to dism
• 51:58
  Speaker 1: It's not going to I just to give you a
• 52:05
  Speaker 1: sense of Palestinian public opinion. In the West Bank, fifty
• 52:09
  Speaker 1: one percent of guz And surveyed express positive views of
• 52:11
  Speaker 1: Rama's performance during the war outil the seventh and the
• 52:17
  Speaker 1: complete failure militarily during the war fifty one percent, and
• 52:22
  Speaker 1: that was forty three percent in May and thirty nine
• 52:25
  Speaker 1: percent a year ago. So they've only gotten better. So
• 52:28
  Speaker 1: I mean this Trumpeese deo has improved Ramas's political standing.
• 52:39
  Speaker 1: Forty one percent of guds And said they were aligned
• 52:41
  Speaker 1: with Ramas, which is up four points from five months
• 52:44
  Speaker 1: ago and the highest since December of twenty twenty three.
• 52:50
  Speaker 1: So Ramas is just Garz has been destroyed. But people
• 52:57
  Speaker 1: perceive somehow Ramas is Victoria because they're still around two years,
• 53:02
  Speaker 1: two plus years after the conflict started, Tramas is still there.
• 53:06
  Speaker 1: They still have weapons. They're still out in the streets,
• 53:10
  Speaker 1: They're still governing at least a portion of Gaza. They
• 53:15
  Speaker 1: have basically survived an onslaught by maybe the second best
• 53:20
  Speaker 1: military force in the world today, the Israelis, and they survived. Uh.
• 53:30
  Speaker 1: You know, Trump has this idea of his twenty point
• 53:34
  Speaker 1: piece plan that they're going to be disarmed, But everybody knows.
• 53:37
  Speaker 1: Everybody knows that they're not going to disarm. Then nobody
• 53:42
  Speaker 1: can force them to disarm except for one force that
• 53:44
  Speaker 1: is Israel, and Israel has been barred by Donald Trump
• 53:48
  Speaker 1: from doing that. So Trump is prevented the one force
• 53:52
  Speaker 1: in the world that could disarm Hamas from disarmy Commas,
• 54:03
  Speaker 1: We've got Hamas continuing to steal the aid and redistribute
• 54:07
  Speaker 1: it itself and make money. Thus we've got Hamas leadership
• 54:11
  Speaker 1: in katou and so on, still with lots of money,
• 54:17
  Speaker 1: I'm sure supported by the Qataris, buying weapons, storing them
• 54:21
  Speaker 1: in Yemen and other African countries, just waiting for the
• 54:24
  Speaker 1: opportunity to smuggle them in the to Gaza. I mean
• 54:31
  Speaker 1: roasts not being pacified. They have no intention to give
• 54:34
  Speaker 1: up control. They don't intend to go away and disappear
• 54:39
  Speaker 1: and maybe they'll change their name, but they're not going anywhere.
• 54:46
  Speaker 1: Israel didn't win this war. Now, I've said a lot
• 54:51
  Speaker 1: about the outcome, but Israel didn't win it. And the
• 54:56
  Speaker 1: Gazans know it, the Palestinians know it is You'll we'll
• 55:02
  Speaker 1: find out in the future when all this comes back
• 55:06
  Speaker 1: and bites them. And Trump, you know who knows. Trump's
• 55:13
  Speaker 1: one big from Posse success was this so called peace deal.
• 55:19
  Speaker 1: What's he gonna do well? The pressure is now for
• 55:23
  Speaker 1: Trump is to skip disarming Hamas and begin reconstruction. The
• 55:31
  Speaker 1: administration's moosey is pushing interim solutions, and Israel is pushing
• 55:36
  Speaker 1: back the earth. Wants to start building, start creating something,
• 55:41
  Speaker 1: you know, the the the what do you call it,
• 55:46
  Speaker 1: the reviera, the Garsen Revier, wants to create a Gozen Rivier,
• 55:51
  Speaker 1: wile Hamas is still there with arms. I mean, it's
• 55:59
  Speaker 1: just it's just it's just pathetic. It's sad. It's all
• 56:03
  Speaker 1: those people dying I'm talking about the Israelis for nothing.
• 56:07
  Speaker 1: And then and then people bemoaned the sixty or seventy
• 56:11
  Speaker 1: thousand Palestinians who have died, most of whom or at
• 56:15
  Speaker 1: least a large percentage of whom are Hamas members and supporters,
• 56:20
  Speaker 1: a small percentage of whom are completely innocent. And you know,
• 56:25
  Speaker 1: one of the smallest numbers of dead in urban word
• 56:29
  Speaker 1: for in all of history. Just pathetic and ridiculous, and
• 56:42
  Speaker 1: so yeah, you know, you might have been happy when
• 56:45
  Speaker 1: this peace deal was done and the hostages came back,
• 56:48
  Speaker 1: but it ain't over. It is not over anyway. In
• 56:54
  Speaker 1: the meantime, the crazy, crazy, messianic, really religious Jews in
• 57:01
  Speaker 1: the West Bank who think that they're above the law,
• 57:05
  Speaker 1: who think that they are some kind of superior being,
• 57:09
  Speaker 1: and who you know, if they represented all Jews, then yeah,
• 57:15
  Speaker 1: you know there's a reason to hate them, but they don't.
• 57:19
  Speaker 1: They small minority. But these Messianic Jews on the West
• 57:23
  Speaker 1: Bank are continuing to harass, but use violence against Palestinians,
• 57:32
  Speaker 1: and not just Palestinians, use violence against idea of Israeli
• 57:36
  Speaker 1: defense forces, soldiers, the writing in Palestinian villages. They're setting
• 57:43
  Speaker 1: fire to homes, they're burning cars, they're beating people up.
• 57:49
  Speaker 1: And again this includes not just Palestinians, but includes soldiers,
• 57:56
  Speaker 1: police port a police of these stay. These are irrational
• 58:04
  Speaker 1: religious fanatics that need to be shut down yesterday, years ago,
• 58:11
  Speaker 1: they should have been shut down. The problem is some
• 58:14
  Speaker 1: of their members sitting in Israeli government now. N'atagno finally
• 58:21
  Speaker 1: said something about all of this. He basically said that
• 58:26
  Speaker 1: you know, they're going to go after them, and they're
• 58:29
  Speaker 1: going to shut them down, and they're going to use
• 58:31
  Speaker 1: the full force of the law against them. But I
• 58:35
  Speaker 1: think most people in Israel think that he said this
• 58:39
  Speaker 1: before and they're waiting to see results. There was a
• 58:47
  Speaker 1: bulldozing of an illegal settlement that the army engaged in
• 58:55
  Speaker 1: I think over the weekend. But there's a lot to do.
• 59:01
  Speaker 1: There are people who need to be in jail for
• 59:04
  Speaker 1: being violent, for violating people's rights. Palestinians I have rights.
• 59:11
  Speaker 1: You can't just go and beat them up. You can't
• 59:12
  Speaker 1: kill them for no reason. You can't burn their homes,
• 59:16
  Speaker 1: you can't burn their cause. People need to be prosecuted
• 59:18
  Speaker 1: and put in jail. Otherwise Israel loses one of the
• 59:22
  Speaker 1: things that makes it a civilized place, which is the
• 59:28
  Speaker 1: rule of law. So it all needs to shape up
• 59:33
  Speaker 1: on this. It really is horrific that they're lending a
• 59:37
  Speaker 1: small minority of fanatics engage in violence and without consequences.
• 59:45
  Speaker 1: They need to be consequences. All right, Let's go through
• 59:50
  Speaker 1: a few other countries. Chile. Chile had an election over
• 59:54
  Speaker 1: the weekend and had an election kind of a first
• 59:57
  Speaker 1: round presidential election. You need fifty in the first round
• 1:00:01
  Speaker 1: to win the presidency. Nobody got that. The logist share
• 1:00:05
  Speaker 1: of the vote actually went to a communist. I know
• 1:00:09
  Speaker 1: it's hard to believe, but yeah, to a communist, uh,
• 1:00:13
  Speaker 1: you know Jarrah, I yes, uh, I think it's a she,
• 1:00:17
  Speaker 1: Jeanette Jennete Java, who literally was the candidate of the
• 1:00:24
  Speaker 1: Chilean Communist Party, And just give you a sense, twenty
• 1:00:29
  Speaker 1: six percent of Chilean's voted for candidate from the Communist Party.
• 1:00:36
  Speaker 1: She got the most votes. However, almost all of the
• 1:00:41
  Speaker 1: rest of the votes, seventy percent of the votes went
• 1:00:46
  Speaker 1: to members of the right, some kind of right. The
• 1:00:53
  Speaker 1: winner among those candidates is somebody called Jose Antonio cast
• 1:00:58
  Speaker 1: a populist ultra conservative lawyer who ran as the anti immigration,
• 1:01:07
  Speaker 1: anti crime, you know law and oda. He's an anti abortion,
• 1:01:12
  Speaker 1: he's those anti gay marriage, which he didn't emphasize you
• 1:01:16
  Speaker 1: in the campaign because he probably wouldn't have won if
• 1:01:18
  Speaker 1: he had. But he got twenty four percent of the vote,
• 1:01:22
  Speaker 1: and unfortunately all the other candidates split the rest. So
• 1:01:27
  Speaker 1: between the two the two leaders got fifty percent, and
• 1:01:30
  Speaker 1: yet everybody else got the rest of fifty percent. That included,
• 1:01:33
  Speaker 1: for example, you know a relative, a real free marketer,
• 1:01:40
  Speaker 1: a real free marketer by the name of I had
• 1:01:44
  Speaker 1: this name here and it's disappeared anyway, a real feam marketer,
• 1:01:49
  Speaker 1: you know, at the level of Melay type femalketer. Yes,
• 1:01:52
  Speaker 1: Johannes Kaiser, who I think is Axel Kaiser's brother. Exel
• 1:01:56
  Speaker 1: Kaiser runs a free market think tank in Chile. I
• 1:01:59
  Speaker 1: think this is his Johannis Kaisee, who got fourteen percent
• 1:02:04
  Speaker 1: of the vote. H and another conservative got thirteen percent
• 1:02:08
  Speaker 1: of the vote. You think they'd all they'd have one
• 1:02:11
  Speaker 1: candidate instead of splitting it up like this. They could
• 1:02:13
  Speaker 1: have won in the first round. So going into the
• 1:02:17
  Speaker 1: general the second round, the cast the ultra conservative lawyer
• 1:02:23
  Speaker 1: is clearly the favorite to win by a big margin.
• 1:02:26
  Speaker 1: He'll trunce the communist and this will be another country
• 1:02:30
  Speaker 1: that has shifted to the right, sadly, not the hose,
• 1:02:34
  Speaker 1: not that have you me lay right, but a conservative right,
• 1:02:38
  Speaker 1: a a ultra conservative right, a religious right, a statist right.
• 1:02:44
  Speaker 1: He says he'll deregulate and he'll do all these things.
• 1:02:49
  Speaker 1: But that's not his you know, primary you know, primary focus,
• 1:02:57
  Speaker 1: not a primary focus at all. His prime focuses the
• 1:03:00
  Speaker 1: social issues. Now it is, you know, Chile is seeing
• 1:03:05
  Speaker 1: is still one of the safest places in Latin America.
• 1:03:09
  Speaker 1: It's seeing an uptick on crime. It's seen an uptick
• 1:03:13
  Speaker 1: in illegal immigration, particularly from Venezuela, and those are the issues.
• 1:03:20
  Speaker 1: This is a guy who admires ne Bucele, the authoritarian
• 1:03:27
  Speaker 1: president of Osalvado. This is a guy who admires Trump.
• 1:03:34
  Speaker 1: But overall this is a pudiation of the left. It
• 1:03:39
  Speaker 1: is another country that has moved to the right. We
• 1:03:42
  Speaker 1: saw Bolivia moved to the right, you know, defeat a
• 1:03:47
  Speaker 1: socialist for the first time in over twenty years. We
• 1:03:51
  Speaker 1: are probably going to see Peru have an election in
• 1:03:55
  Speaker 1: which it defeats a right where you know, where the
• 1:03:58
  Speaker 1: right defeats the left. You're going to see a Columbia
• 1:04:02
  Speaker 1: and Peru's shift to the right, I mean, and then
• 1:04:05
  Speaker 1: hopefully you know, in Brazil we'll see that later. So overall,
• 1:04:09
  Speaker 1: the tendency in Latin America is moved to the right, sadly,
• 1:04:14
  Speaker 1: not the free market right, but a kind of a populist,
• 1:04:18
  Speaker 1: kind of a populist type right. One country that still
• 1:04:21
  Speaker 1: has a very left wing president is Mexico. Mexico saw
• 1:04:27
  Speaker 1: major riots in the streets of Mexico City on Saturday.
• 1:04:31
  Speaker 1: Several thousand people went to the streets and they attacked
• 1:04:35
  Speaker 1: the presidential palace, which was heavily guarded by riot police,
• 1:04:41
  Speaker 1: and for several hours they confronted. The police. Reports about
• 1:04:47
  Speaker 1: one hundred and twenty people who injured, one hundred of
• 1:04:49
  Speaker 1: them police officers, and you know, a few dozen people
• 1:04:55
  Speaker 1: were arrested. These are called gen Z protests and they're
• 1:05:02
  Speaker 1: spreading around the world. They took place in Nepal. We
• 1:05:04
  Speaker 1: talked about that, and now they've reached Mexico. These are
• 1:05:07
  Speaker 1: young people. They're fed up, they're pissed off, and the
• 1:05:12
  Speaker 1: main reason for being fed up is the dominance of
• 1:05:18
  Speaker 1: the cartels in Mexico, the power of the cartels in Mexico,
• 1:05:23
  Speaker 1: the fact that the cartels control big chunks of Mexico.
• 1:05:29
  Speaker 1: In Mexico is basically the Mexican central government is basically
• 1:05:32
  Speaker 1: seeded power, seated power to the cartels. They kill Mayas.
• 1:05:44
  Speaker 1: They basically kill journalists and politicians with no consequences. Nothing happens,
• 1:05:52
  Speaker 1: and young people in Mexico are fed up, and this
• 1:05:56
  Speaker 1: was the source of the gen Z protests. They believe
• 1:06:02
  Speaker 1: that the president Shannonbaum is basically a puppet of the cartels.
• 1:06:08
  Speaker 1: Now she has high approval ratings. I mean she won
• 1:06:11
  Speaker 1: by a big margin, and she dominates the legislature. So
• 1:06:16
  Speaker 1: these young people are now representative of uh, the white
• 1:06:21
  Speaker 1: a Mexican society. But they argue that she is just
• 1:06:26
  Speaker 1: a puppet of the cartels. Uh. We'll see how this
• 1:06:29
  Speaker 1: develops and whether she maintains her popularity as young people
• 1:06:34
  Speaker 1: rebel against her. Finally, the UK Labor Party has appointed
• 1:06:46
  Speaker 1: appointed a few weeks ago, appointed a new Home Secretary.
• 1:06:50
  Speaker 1: It's like interior secretario. I don't know what what the
• 1:06:53
  Speaker 1: equivalent would be. Her name is Shabana Mahmoud, so you
• 1:06:58
  Speaker 1: know by definition almost given that name, most likely she
• 1:07:03
  Speaker 1: is Muslim. Anyway, they've appointed to her, and she just
• 1:07:09
  Speaker 1: came out with a plan this week or I guess
• 1:07:12
  Speaker 1: today yesterday for major immigration reform in the UK, basically
• 1:07:22
  Speaker 1: making it much much more difficult for asylum seekers to
• 1:07:27
  Speaker 1: enter the country to stay in the country or to
• 1:07:31
  Speaker 1: get any kind of citizenship in the country. So a
• 1:07:35
  Speaker 1: real hardline set of rules for handling asylum seekers and
• 1:07:40
  Speaker 1: illegal immigrants. We're talking about taking illegal immigrants and deporting
• 1:07:50
  Speaker 1: them and telling countries that if they don't accept the
• 1:07:55
  Speaker 1: illegal immigrants that they're sending back, then the UK will
• 1:08:00
  Speaker 1: basically not grant the citizens any visas anymore. The Labor
• 1:08:07
  Speaker 1: Party in the UK is taking in this seriously because
• 1:08:09
  Speaker 1: it's the most important issue right now in the UK.
• 1:08:13
  Speaker 1: More important I think that even in the economy, which
• 1:08:15
  Speaker 1: is awful and it is seeing Farage and his political
• 1:08:23
  Speaker 1: party become the dominant party in England, that his polls
• 1:08:26
  Speaker 1: are showing that Farage would win in a landslide right now.
• 1:08:31
  Speaker 1: The Conservative Party has also made itself far more aggressive
• 1:08:35
  Speaker 1: about immigration, and now even the Labor Party, even the Left,
• 1:08:39
  Speaker 1: is coming down hard on both the silence seekers and
• 1:08:43
  Speaker 1: illegal immigrants. The Labor Party changes that it's going to
• 1:08:48
  Speaker 1: make tough on a silent policy is basically trying to
• 1:08:52
  Speaker 1: mimic the Danish system, which is basically reduced immigration to
• 1:08:58
  Speaker 1: Denmark dramatically. That system was also devised by a center
• 1:09:03
  Speaker 1: left government. It grants asylum. See because resident permit for
• 1:09:07
  Speaker 1: only one or two years no guarantee your permanent residency.
• 1:09:11
  Speaker 1: To gain permanent status, new arrivals must learn Danish and
• 1:09:14
  Speaker 1: find work. Since the rules were tightened in Denmark, the
• 1:09:18
  Speaker 1: number of people granted asylum in Denmark is plummeted. You know,
• 1:09:23
  Speaker 1: migrants that came in for severe rock Afghanistan all went
• 1:09:26
  Speaker 1: through Denmark straight to Sweden, where they used to get
• 1:09:30
  Speaker 1: welfare checks and free housing. Denmark doesn't provide that, and
• 1:09:34
  Speaker 1: the UK is trying to mimic that. So Denmark has
• 1:09:40
  Speaker 1: some of the toughest immigration policies in Western Europe, and
• 1:09:44
  Speaker 1: the United Kingdom is trying to is trying to mimic
• 1:09:48
  Speaker 1: it and trying to deport as many people as they
• 1:09:52
  Speaker 1: can who entered the country illegally, and tried to reduce
• 1:09:56
  Speaker 1: dramatically the number of people who are coming in and
• 1:09:59
  Speaker 1: requesting asylum. So all three parties, Nigel Faraz, the Conservatives
• 1:10:08
  Speaker 1: and Labor are kind of jocking to be tough on immigrants,
• 1:10:12
  Speaker 1: to be tough on immigration. And what's interesting about this is,
• 1:10:16
  Speaker 1: of course, uh, you know, but but but this is
• 1:10:19
  Speaker 1: this is Britain that you know, this is coming from
• 1:10:21
  Speaker 1: a Home secretary who herself is probably the daught of immigrants,
• 1:10:27
  Speaker 1: right and has a Muslim name if nothing else. And uh,
• 1:10:32
  Speaker 1: this is coming from a left wing party that up
• 1:10:34
  Speaker 1: until very recently was like let them in, anybody can
• 1:10:38
  Speaker 1: come in, no no standards, We'll give them all welfare.
• 1:10:41
  Speaker 1: And even this political party has now shifted away, shifted
• 1:10:45
  Speaker 1: away from that. Yeah, so we will see how this develops.
• 1:10:53
  Speaker 1: And uh, but but clearly Europe has become unequivocally anti immigrants,
• 1:10:59
  Speaker 1: and this is a throughout Europe. All right. I have
• 1:11:03
  Speaker 1: a hard stop at five, so I will try to
• 1:11:06
  Speaker 1: get through all the superchet questions. But if not, if
• 1:11:09
  Speaker 1: there are any leftover, then I will cover them in
• 1:11:13
  Speaker 1: on tomorrow's show. But let's try to get them all today.
• 1:11:19
  Speaker 1: I'll just remind you some of the of some of
• 1:11:21
  Speaker 1: our sponsors, where Michael Williams. If you want to find
• 1:11:25
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• 1:11:28
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• 1:11:31
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• 1:11:35
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• 1:11:58
  Speaker 1: discount code. Epstein is, you know, the most prominent advocate
• 1:12:06
  Speaker 1: for freedom in energy, and you should follow him. You'll
• 1:12:11
  Speaker 1: learn a lot, you'll become a better communicator, and you
• 1:12:14
  Speaker 1: can do that on Alex Epstein dot alex Epstein dot
• 1:12:18
  Speaker 1: substack dot com, alex Epstein dot substick dot com. All right,
• 1:12:22
  Speaker 1: let's jump into the questions. We've got three fifty dollars
• 1:12:26
  Speaker 1: questions from David. We'll start with them, and then we'll
• 1:12:29
  Speaker 1: go to the twenty dollars questions and then we'll do
• 1:12:31
  Speaker 1: the rest. And we are about one hundred and seventy
• 1:12:35
  Speaker 1: six dollars short of a goal for the second hour,
• 1:12:38
  Speaker 1: where we should be kind of the the the kind
• 1:12:44
  Speaker 1: of cost we need to cover for a two hour show.
• 1:12:48
  Speaker 1: So please, I know we've done really really well the
• 1:12:50
  Speaker 1: last few shows. Let's continue on that track by getting
• 1:12:54
  Speaker 1: to the five hundred. The best way to support the show, right,
• 1:12:57
  Speaker 1: now given the questions, is with a sticker? Mary Aleen,
• 1:13:02
  Speaker 1: thank you for the sticker. Nature Observer, thank you for
• 1:13:04
  Speaker 1: the sticker, and give it how many people we have,
• 1:13:06
  Speaker 1: and Ryan, thank you for the sticker. You can all
• 1:13:08
  Speaker 1: just do like a buck ninety nine or two ninety
• 1:13:11
  Speaker 1: nine or something like that, and there were enough of
• 1:13:13
  Speaker 1: you that we would get to our number. You know,
• 1:13:16
  Speaker 1: we will get to the amount of money anyway, So
• 1:13:18
  Speaker 1: please consider that value a trade value for value you
• 1:13:22
  Speaker 1: get a value by listening. Yeah, Lincoln, just at a sticker.
• 1:13:26
  Speaker 1: Thank you, Lincoln. That was your twentieth super Chat supersticker whateverever.
• 1:13:32
  Speaker 1: So YouTube, let me know about some of these numbers.
• 1:13:35
  Speaker 1: All right, David says, can you debunk cont categorical imperatives?
• 1:13:40
  Speaker 1: It seems like a good idea. Am I wrong? I
• 1:13:43
  Speaker 1: don't see what's so good about it? Joseph, thank you
• 1:13:45
  Speaker 1: for the sticker. You guys are doing two ninety nine,
• 1:13:47
  Speaker 1: four ninety nine. That's great. I don't know what's so
• 1:13:49
  Speaker 1: good about it. And that was Joseph's third Superstar. I
• 1:13:53
  Speaker 1: don't know what's good about it at all. I'm basically
• 1:13:55
  Speaker 1: a category imperative is an arbitrary statement. It basically says
• 1:14:00
  Speaker 1: that there are things that we know are aright. How
• 1:14:04
  Speaker 1: do we know them? We just do. You can't reason them,
• 1:14:09
  Speaker 1: You can't get them for reality because we have no
• 1:14:11
  Speaker 1: access to reality. They're not things that support human life
• 1:14:17
  Speaker 1: necessarily because that's not the standard of morality. They're just there.
• 1:14:21
  Speaker 1: You just know them. Now, there's nothing to rebuke there
• 1:14:26
  Speaker 1: because there's no there's nothing debunk there because there's no
• 1:14:29
  Speaker 1: argument being made. There's a sense in which this is
• 1:14:32
  Speaker 1: completely arbitrary. He pulls it out of nowhere. Now, I'm
• 1:14:36
  Speaker 1: sure that in contient form there's a long, convoluted attempt
• 1:14:40
  Speaker 1: at an explanation that doesn't make any sense. And I
• 1:14:43
  Speaker 1: am not a contient expert, so I'm not going to
• 1:14:45
  Speaker 1: untangle all of it. But at the end of the day,
• 1:14:48
  Speaker 1: I can't. So it's a good question to ask one
• 1:14:50
  Speaker 1: of our philosophers who maybe can give you a more
• 1:14:52
  Speaker 1: thorough But the essence of it is that the whole
• 1:14:56
  Speaker 1: point of category compotives are these are mall duties that
• 1:14:59
  Speaker 1: you have in your mind. You know them almost like
• 1:15:02
  Speaker 1: intuitions that are just there, and you should just follow them,
• 1:15:07
  Speaker 1: not because they lead to any kind of outcome, but
• 1:15:09
  Speaker 1: because it is your duty to follow them, not because
• 1:15:12
  Speaker 1: they're good for you, but because they were duty to
• 1:15:16
  Speaker 1: follow them. The whole point of carrygall kill imperatives is
• 1:15:20
  Speaker 1: to inculcate a duty based morality. You do it because
• 1:15:24
  Speaker 1: that is what the category competitor says, that's what's required,
• 1:15:29
  Speaker 1: that's what you must do, no matter the outcome, no
• 1:15:33
  Speaker 1: matter the motivation. I mean, indeed, concess. If your motivation
• 1:15:37
  Speaker 1: is self interest, if somehow doing this benefits you in
• 1:15:41
  Speaker 1: some way, then you're not doing it out a sense
• 1:15:44
  Speaker 1: of duty. Then it's not model what you're doing. Morality
• 1:15:49
  Speaker 1: implies that it's not in your self interest. Morality demands
• 1:15:58
  Speaker 1: that you do it not because you understand, not because
• 1:16:02
  Speaker 1: you agree, not because it's good for you, now because
• 1:16:04
  Speaker 1: there's some goal you want to achieve, but because that
• 1:16:08
  Speaker 1: is it. Now think about it, Think about it. The
• 1:16:16
  Speaker 1: you know, these duties, since they don't exist the auto
• 1:16:20
  Speaker 1: category of competitives, they're not there. Really somebody has to
• 1:16:25
  Speaker 1: fill in that gap. You have to figure out what
• 1:16:28
  Speaker 1: to do, what duties to fulfill. And this is part
• 1:16:33
  Speaker 1: of the link that you can see from that too.
• 1:16:36
  Speaker 1: On the one hand, a society ready to do its
• 1:16:41
  Speaker 1: duty at the command of the furor two. Well, we
• 1:16:46
  Speaker 1: all have different category competitives. The mind is maluable, it's
• 1:16:51
  Speaker 1: the mind is personal, so we all have different stuff.
• 1:16:53
  Speaker 1: So that's completely subjective because there's no standard. So you
• 1:16:57
  Speaker 1: get everything out of this kind of morality all the
• 1:17:00
  Speaker 1: way from a duty bound, you know, authoritarian morality to
• 1:17:07
  Speaker 1: a completely subjectivist anything goes morality. And you know, David,
• 1:17:13
  Speaker 1: the best analysis of this, the best explanation of this
• 1:17:18
  Speaker 1: can be found in The Ominous Parallels, Lena Pikoff's magnificent,
• 1:17:23
  Speaker 1: brilliant book about the rise of Nazi Germany and its
• 1:17:26
  Speaker 1: parallels in America. So The Ominous Parallels is a must read,
• 1:17:30
  Speaker 1: and there he goes into great detail, which i you know,
• 1:17:33
  Speaker 1: into content, categoric comparatives and how they lead to the Nazis.
• 1:17:41
  Speaker 1: Thank you David, Thank you, Paul, Thank you Maultien, and
• 1:17:45
  Speaker 1: Maltin just did his first super chat. Thank you Martin.
• 1:17:49
  Speaker 1: Really appreciate that. It's a U ninety nine. That is great.
• 1:17:54
  Speaker 1: If everybody did just that, we would blow through our
• 1:17:57
  Speaker 1: target easily. So please considered joining Martine and Paul and
• 1:18:02
  Speaker 1: the other stickers where you don't even have to ask
• 1:18:05
  Speaker 1: a question David asked us anyone thought to ask Nick
• 1:18:10
  Speaker 1: Foyntis to explain his mongrel, mixed breed nature, mixed concern,
• 1:18:15
  Speaker 1: not mine? And also that he seems to be gay. Again,
• 1:18:19
  Speaker 1: Nick's concern not mine. You know, I don't think so,
• 1:18:23
  Speaker 1: And I don't know why anybody would, because the reality is,
• 1:18:29
  Speaker 1: you know, who cares where he comes from, what his
• 1:18:31
  Speaker 1: genes are, where his orientation is or or his sexual
• 1:18:34
  Speaker 1: orientation is. And again, I don't know what he is.
• 1:18:39
  Speaker 1: I don't know if he's gay or not gay. I
• 1:18:40
  Speaker 1: don't care. I don't know if he's mixed breed or
• 1:18:43
  Speaker 1: not mixed breed. I don't care whatever he is. You know,
• 1:18:49
  Speaker 1: he's a antisemitic, racist, misogynist, irrational, you know, freak and
• 1:19:01
  Speaker 1: should be shunned. So nobody should actually ask him anything.
• 1:19:06
  Speaker 1: He's just a manipulative, evil little bastard who says two
• 1:19:12
  Speaker 1: things sometimes and leverages that into the horrors of what
• 1:19:17
  Speaker 1: he believes. And you know, so David says, but it
• 1:19:22
  Speaker 1: makes Nick a bit of a hypocrite. Yeah, but everybody's
• 1:19:25
  Speaker 1: a hypocrite. Oh, I shouldn't say everybody. Almost everybody's a hypocrite.
• 1:19:31
  Speaker 1: I mean, how many people live up to them all code.
• 1:19:34
  Speaker 1: How many people live up to their ideas ideals? How
• 1:19:37
  Speaker 1: many people actually do that? Very few, very few. I
• 1:19:44
  Speaker 1: don't think hypocrisy is that big of a deal. Everybody's
• 1:19:48
  Speaker 1: a hypocrite. Much more important is the share evil of
• 1:19:52
  Speaker 1: the ideas themselves. No matter whether this hypocrisy or not. Oh,
• 1:20:00
  Speaker 1: he will say he's not really racist, he only hates blacks,
• 1:20:03
  Speaker 1: it's not generally racism. And he wants the United States
• 1:20:08
  Speaker 1: to be a white national state. But Hispanics are white,
• 1:20:13
  Speaker 1: they have roots in Spain. Spain is European and thus white.
• 1:20:20
  Speaker 1: So I mean the whole thing is he will rationalize
• 1:20:23
  Speaker 1: his hypocrisy. So Chandlers has always heard, the hypocrisy is
• 1:20:29
  Speaker 1: the worst part. No, it's not the worst part is
• 1:20:31
  Speaker 1: the ideas. But every outrust in the world, which basically
• 1:20:36
  Speaker 1: means everybody pretty much, is a hypocrite. Because how many
• 1:20:39
  Speaker 1: of them really sacrifice so they fellow man? How many
• 1:20:43
  Speaker 1: of them really don't think about their own self interest?
• 1:20:46
  Speaker 1: Every content is a hypocrite. How many of them actually
• 1:20:49
  Speaker 1: follow their you know, their duty? How many actually follow
• 1:20:58
  Speaker 1: their categoric impetatives? They don't. They're all hypocrites. Hypocrisy is
• 1:21:05
  Speaker 1: the most common thing in the world. When you have
• 1:21:08
  Speaker 1: a world dominated by bad philosophy. Bad philosophy part of
• 1:21:15
  Speaker 1: its characteristics are you can't live it. I mean, some
• 1:21:20
  Speaker 1: people can take expense of others, but a majority of
• 1:21:24
  Speaker 1: people cannot actually live up to it, live down to it. Sorry,
• 1:21:26
  Speaker 1: not live up to it, live down to it. So
• 1:21:30
  Speaker 1: they don't, which is good, right, But that makes some hypocrites,
• 1:21:35
  Speaker 1: which is not their biggest sin. The biggest sin is
• 1:21:38
  Speaker 1: holding those evil ideas to begin with. Okay, David asks,
• 1:21:45
  Speaker 1: why is bitcoin different from gold? What makes gold so desirable?
• 1:21:49
  Speaker 1: Isn't bitcoin valuable just a matter of what a large
• 1:21:52
  Speaker 1: portion of population accepts as a store of value. Well, sure,
• 1:21:58
  Speaker 1: but this is the difference. You have to be convinced
• 1:22:01
  Speaker 1: that in the future, in some future, any future, other
• 1:22:05
  Speaker 1: people will be willing to buy it from you will
• 1:22:09
  Speaker 1: view it as continue to view it as a store value.
• 1:22:13
  Speaker 1: And with bitcoin, there's just no reason to assume that
• 1:22:18
  Speaker 1: that is the case. It's some you know, electronic bits
• 1:22:26
  Speaker 1: that have certain characteristics that are not that unique. You
• 1:22:28
  Speaker 1: could replicate it in other forms, and it's not clear
• 1:22:34
  Speaker 1: what its use is, particularly if the world goes to hell.
• 1:22:41
  Speaker 1: But what is gold? Gold is a metal. It's a
• 1:22:45
  Speaker 1: metal that can be used for all kinds of things.
• 1:22:47
  Speaker 1: It's a metal that people have used throughout history for
• 1:22:51
  Speaker 1: all kinds of things. It's shiny, it glitters or sparkles.
• 1:22:57
  Speaker 1: I don't know one or the other. So using gold
• 1:23:00
  Speaker 1: as jewelry for everything. Gold gets its value from jewelry.
• 1:23:04
  Speaker 1: And the reality is, and this is true of money.
• 1:23:07
  Speaker 1: Money has to be something that lots of people want
• 1:23:14
  Speaker 1: for its own sake, and therefore it becomes a common
• 1:23:20
  Speaker 1: medium of exchange because when you accept it in payment
• 1:23:26
  Speaker 1: for a real thing that you're giving somebody else, you
• 1:23:29
  Speaker 1: have such a confidence then you can turn around and
• 1:23:33
  Speaker 1: use it to pay somebody else that somebody else will
• 1:23:36
  Speaker 1: take it off of your hands. Because money, at the
• 1:23:40
  Speaker 1: end of the day, is not valuable other than in
• 1:23:43
  Speaker 1: the things that it can buy. It's the things that
• 1:23:45
  Speaker 1: are valuable, not the money in and of itself. So
• 1:23:48
  Speaker 1: you want to make sure that the money can be
• 1:23:49
  Speaker 1: used to buy stuff. We know throughout history gold has
• 1:23:54
  Speaker 1: mean something that people like to possess too. The problem
• 1:24:01
  Speaker 1: with silver is and silver could be used for smaller denominations,
• 1:24:07
  Speaker 1: and silver has always been used together with gold together
• 1:24:11
  Speaker 1: with sometimes even copper as smaller denomination money. So anything
• 1:24:20
  Speaker 1: that it has a use can be used as money.
• 1:24:27
  Speaker 1: But it also has to be you know, divisible, and
• 1:24:30
  Speaker 1: it has to be easy to carry in all these things.
• 1:24:32
  Speaker 1: And you know, gold in and of itself is not
• 1:24:35
  Speaker 1: particularly useful. What you really want is gold to be
• 1:24:39
  Speaker 1: stood somewhere, and gold just to be representative. And what
• 1:24:43
  Speaker 1: you want is paper money, which is what we evold
• 1:24:45
  Speaker 1: to that is backed by gold, or electronic money which
• 1:24:50
  Speaker 1: is backed by gold. You don't want to be lugging
• 1:24:53
  Speaker 1: around gold. The only reason today to buy gold is
• 1:24:58
  Speaker 1: if you believe that there's a probability kind of the
• 1:25:01
  Speaker 1: world ends, society collapses, it all crashes, and then you
• 1:25:06
  Speaker 1: can still buy guns, ammunition and food with the gold
• 1:25:11
  Speaker 1: that you have. And that's why you should have a
• 1:25:14
  Speaker 1: small denomination gold gold coins, not gold bars, because gold
• 1:25:17
  Speaker 1: bars are hard to move around and nobody's going to
• 1:25:20
  Speaker 1: give you change for the gold boss. But there's just
• 1:25:24
  Speaker 1: Bitcoin is just what people decide, but it has no use,
• 1:25:31
  Speaker 1: particularly if there's no electricity. But it has no use.
• 1:25:34
  Speaker 1: You know, people don't buy and sell stuff with it,
• 1:25:39
  Speaker 1: and you don't know what value it's going to have tomorrow. Now,
• 1:25:43
  Speaker 1: gold flunctuates somewhat, but within certain bounds, it doesn't flunctuate
• 1:25:48
  Speaker 1: anything like the way bitcoin flunctuates. So no, bitcoin and
• 1:25:54
  Speaker 1: gold not the same thing. We can talk more about
• 1:25:58
  Speaker 1: bitcoin sometime, Jamie. We should be able to think say
• 1:26:06
  Speaker 1: what we want. But when immigrants come to a country
• 1:26:08
  Speaker 1: and publicly admit they intend to bring about Sharia, should
• 1:26:13
  Speaker 1: they be deported? At a point must we choose survival
• 1:26:16
  Speaker 1: of the country over free speech. Well, I don't think
• 1:26:19
  Speaker 1: it's a conflict. I think, as I've said many times,
• 1:26:24
  Speaker 1: as a country, we need to decide that we have
• 1:26:28
  Speaker 1: certain enemies, that Islamism. Those who would bring Sharia to
• 1:26:32
  Speaker 1: our shows are the enemy, and they shouldn't be allowed in.
• 1:26:35
  Speaker 1: And this is an enemy ideology that we will not
• 1:26:39
  Speaker 1: let spread in our country because it is an enemy.
• 1:26:44
  Speaker 1: You know, people spouting this ideology are killing us. So
• 1:26:50
  Speaker 1: I think as such, it's not a violation of free speech.
• 1:26:55
  Speaker 1: If Islamists, those who advocate for global Sharia law viewed
• 1:27:04
  Speaker 1: and identified and categorized as an enemy, then it's a them.
• 1:27:10
  Speaker 1: Actively promoi Sharia is an active war and active treason,
• 1:27:12
  Speaker 1: and they can be arrested just like you're Nazis running
• 1:27:17
  Speaker 1: around America spouting Nazism during World War Two, they'd be arrested.
• 1:27:24
  Speaker 1: So the West has to be willing to identify its enemies,
• 1:27:30
  Speaker 1: declare them as such, make it clear that it will
• 1:27:34
  Speaker 1: not tolerate Islamism within its borders. Yeah, and then some
• 1:27:41
  Speaker 1: of these people spouting Sharia law need to be sent
• 1:27:45
  Speaker 1: back home put in prison, depending on their immigration status,
• 1:27:52
  Speaker 1: because you could have you could have you know, Muslims
• 1:27:56
  Speaker 1: that converted to Islam, who have you know deep you know,
• 1:28:01
  Speaker 1: blood roots in a country for many generations, and the
• 1:28:05
  Speaker 1: fact that they convert to Islam and then preach Sharia
• 1:28:08
  Speaker 1: and advocate for Islamic takeover country just the same. So
• 1:28:12
  Speaker 1: it's not just immigrants, it's anybody who preaches and argues
• 1:28:18
  Speaker 1: for an enemy ideology. But for that you have to
• 1:28:22
  Speaker 1: define the enemy. Jamie Monico has a live expectancy eighty
• 1:28:26
  Speaker 1: six point five. US is under eighty. There are thirty
• 1:28:29
  Speaker 1: countries higher than the United States or most with universal
• 1:28:33
  Speaker 1: health care. I believe private would be better, but a
• 1:28:37
  Speaker 1: little confused why such a gap? Thanks well, Monico is
• 1:28:41
  Speaker 1: a bunch of very very wealthy people. Only wealthy people
• 1:28:45
  Speaker 1: live in Monaco. The people who work for the wealthy
• 1:28:48
  Speaker 1: people in Monico live in France and they come into
• 1:28:50
  Speaker 1: Monaco every day to clean and to run the restaurants
• 1:28:54
  Speaker 1: and all of that. So Monico is a place of
• 1:28:56
  Speaker 1: very wealthy individuals who can afford the best health the world,
• 1:29:00
  Speaker 1: and we take care of you know, we have leisure
• 1:29:02
  Speaker 1: time to take care of themselves. You can't judge anything
• 1:29:05
  Speaker 1: by Monaco standards. But yeah, I mean, the United States
• 1:29:10
  Speaker 1: has very low life expectancy. And the question is why.
• 1:29:14
  Speaker 1: And if you visit the United States and you spend
• 1:29:16
  Speaker 1: a little bit of time here, you realize why, because
• 1:29:19
  Speaker 1: you know, Americans are fat. Obesity is probably the number
• 1:29:25
  Speaker 1: one cause of reduced life expectancy in the United States.
• 1:29:30
  Speaker 1: It has nothing to do with socialized medicine. When you
• 1:29:32
  Speaker 1: control for life habits, for culture, for obesity, for the
• 1:29:41
  Speaker 1: junk food, for the things that for the lack of exercise,
• 1:29:45
  Speaker 1: for all the bad behaviors Americans engage in, then life
• 1:29:50
  Speaker 1: expectancy in the United States is not that different than
• 1:29:52
  Speaker 1: other countries. It's the fact that we don't take care
• 1:29:55
  Speaker 1: of ourselves. It has nothing to do with our healthcare system.
• 1:29:59
  Speaker 1: It has everything to do do with personal responsibility Americans
• 1:30:02
  Speaker 1: is just not. You go to Europe, it was in Spain, Portugal, Italy,
• 1:30:07
  Speaker 1: people are much much thinner, much much thinner. So now
• 1:30:14
  Speaker 1: maybe GP one drugs will will change that and life
• 1:30:19
  Speaker 1: expectancy in the United States will rise and be the same.
• 1:30:24
  Speaker 1: So that's one lifestyle factors. Drug use in America is
• 1:30:27
  Speaker 1: much much higher. That's not a problem of socialized medicine.
• 1:30:31
  Speaker 1: The fact that Americans die of overdose of drugs. Americans
• 1:30:35
  Speaker 1: dye more of car accidents, Americans dying more from crime.
• 1:30:41
  Speaker 1: There's more crime, particularly fatal crime, in the United States
• 1:30:44
  Speaker 1: and other countries. All of those things drive up life
• 1:30:49
  Speaker 1: drive down life expectancy in the United States. If you
• 1:30:53
  Speaker 1: look at the life expectancy of Americans who reach the
• 1:30:56
  Speaker 1: age of seventy and the life expectancy of European who
• 1:31:00
  Speaker 1: reached the age of seventy, Americans do better than Europeans.
• 1:31:08
  Speaker 1: That's a measure of health care because if you're dying
• 1:31:13
  Speaker 1: over the age of seventy, it's probably an issue of
• 1:31:16
  Speaker 1: the healthcare quality you're getting and maybe how well you
• 1:31:20
  Speaker 1: took care of yourself up until that point. But if
• 1:31:22
  Speaker 1: you didn't, you probably died before seventy. So if you
• 1:31:27
  Speaker 1: take out the lifestyle issues, then there's not a big
• 1:31:31
  Speaker 1: gap between Europeans and Americans. And then add to that
• 1:31:35
  Speaker 1: the fact that Americans don't have a private healthcare system.
• 1:31:38
  Speaker 1: They have a highly socialized, highly distorted, highly perverted, worst
• 1:31:43
  Speaker 1: of all world's type of healthcare system. David Trump's blaming
• 1:31:50
  Speaker 1: everything on radical leftists reminds me of the Ministry of
• 1:31:53
  Speaker 1: Magic blaming everything on mass murderer. Serious Black. Oh this
• 1:32:00
  Speaker 1: is in the Heavy Potter. I don't quite remember that,
• 1:32:03
  Speaker 1: but yeah, it makes sense, right, Serious Black. Those are
• 1:32:08
  Speaker 1: good books. I enjoyed those all right. Andrews says, some
• 1:32:12
  Speaker 1: in your audience attribute evil to craziness, and you usually
• 1:32:16
  Speaker 1: insist that know it's evil. I do think evil can
• 1:32:20
  Speaker 1: lead to mental decay Tucker's Demons. But is your point
• 1:32:26
  Speaker 1: that the choice to be wantonly irrational is primary? Yes,
• 1:32:32
  Speaker 1: the primary is to choose not to think. If you
• 1:32:35
  Speaker 1: choose not to think, you're irrational by default because the
• 1:32:41
  Speaker 1: tool of rationality is not being engaged. So it is
• 1:32:46
  Speaker 1: the choice to think. That is the root of evil,
• 1:32:51
  Speaker 1: not mental health. And you know mental health can affect everything,
• 1:32:56
  Speaker 1: but that is not the core. That's not the essence
• 1:33:01
  Speaker 1: certainly not of you know, most people. I'm not saying
• 1:33:04
  Speaker 1: that some people are not born, you know, have such
• 1:33:07
  Speaker 1: a really crazy a real chemical imbalance or something, and yeah,
• 1:33:16
  Speaker 1: and therefore do crazy things. But the majority, it's about
• 1:33:21
  Speaker 1: thinking or lack of actually lack of thinking, Okay, Michael
• 1:33:26
  Speaker 1: Paul One, How was the worst of ghetto uprising so
• 1:33:29
  Speaker 1: effective against the power of the German willmarcht Even if
• 1:33:34
  Speaker 1: you're at a munition disadvantage, if you're armed with the
• 1:33:39
  Speaker 1: Maral high ground and write philosophy, you can successfully challenge
• 1:33:42
  Speaker 1: more powerful tyrannical governments. The second Amendment is a crucial
• 1:33:45
  Speaker 1: application of individuals. The ghetto Vasha was, in the end
• 1:33:52
  Speaker 1: not successful. The Vasha ghetto is destroyed, its inhabitants, most
• 1:33:58
  Speaker 1: of them sent to concentration camps. A few escaped into
• 1:34:03
  Speaker 1: the woods and survived or died later. But you can't
• 1:34:08
  Speaker 1: call Warsaw Ghetto a successful overpowering of a tyrannical government.
• 1:34:19
  Speaker 1: You know. The success was that it lasted a long time,
• 1:34:22
  Speaker 1: and it took the Germans a long time to put
• 1:34:24
  Speaker 1: it down. It took the Germans a long time to
• 1:34:26
  Speaker 1: kill everybody there, and most of the reasons for that
• 1:34:30
  Speaker 1: is have to do with the fact that the Germans
• 1:34:32
  Speaker 1: were busy. They had an Eastern front, they at a
• 1:34:34
  Speaker 1: western front, they had a war going on. They could
• 1:34:37
  Speaker 1: only allocate a certain number of troops to putting down
• 1:34:41
  Speaker 1: the Warsaw Ghetto, and they weren't gonna waste planes that
• 1:34:49
  Speaker 1: they were busy bombing different fronts to flatten the ghetto.
• 1:34:55
  Speaker 1: Their habit in the residents of the ghetto or so
• 1:34:57
  Speaker 1: new where the basements were, they could go to the
• 1:35:00
  Speaker 1: sewage canals from building to building. You know, they they
• 1:35:05
  Speaker 1: were gorilla wolf. It guerrilla wolf. It generally is very
• 1:35:07
  Speaker 1: difficult to beat, even even if the even them all
• 1:35:11
  Speaker 1: high ground is not with you communist gorillas, isis guerrillas,
• 1:35:15
  Speaker 1: Al Qaeda gorillas, I mean terrorist guerrillas. Gorilla wolf is
• 1:35:20
  Speaker 1: very very difficult to beat, and ultimately the Germans did
• 1:35:24
  Speaker 1: beat it. So I think you have an overly positive
• 1:35:27
  Speaker 1: view of what was achieved in ghetto, in the Warsaw Ghetto.
• 1:35:32
  Speaker 1: But also it has nothing to do with them all
• 1:35:35
  Speaker 1: high ground, because again it's the conviction that matters. But
• 1:35:42
  Speaker 1: whether you're right or good, you know, it's not the
• 1:35:45
  Speaker 1: determining factor. Because very evil ideologies where people really believed
• 1:35:52
  Speaker 1: in their cause can fight the good guys for a
• 1:35:57
  Speaker 1: very long time if if they're willing to engage in
• 1:36:01
  Speaker 1: the kind of combat. The ghetto, the Warsaw Ghetto, and
• 1:36:04
  Speaker 1: again the ghetto. Ultimately it was a huge failure. I
• 1:36:07
  Speaker 1: do not believe the Second Amendment is crucial application of
• 1:36:10
  Speaker 1: individual rights. I mean it is in a sense of
• 1:36:12
  Speaker 1: if you interpret it as self defense. But I don't
• 1:36:15
  Speaker 1: think that's the interpretation the funding fathers had in mind
• 1:36:18
  Speaker 1: as a way to prevent tyranny. It's not a good mechanism.
• 1:36:23
  Speaker 1: The reality is that Americans being armed is not going
• 1:36:26
  Speaker 1: to prevent dictatorship in America. If the dictatorship in America
• 1:36:30
  Speaker 1: is coming, you're not going to prevent it with your
• 1:36:34
  Speaker 1: with the guns you haven't hidden in your basement or
• 1:36:37
  Speaker 1: not hidden in your basement. What are you going to
• 1:36:41
  Speaker 1: do against F thirty five's what are you going to
• 1:36:44
  Speaker 1: do against? You know? M? Two tanks? Not much? Jamie.
• 1:36:51
  Speaker 1: Can't you talk about the Kansas experiment, the laugh of
• 1:36:54
  Speaker 1: Curve and leftist claims that Kansas experiment failed. So the
• 1:37:00
  Speaker 1: laugher cove is wrong. The laugh for Cove is the
• 1:37:03
  Speaker 1: idea that as you reduce taxes, revenue actually increases because
• 1:37:10
  Speaker 1: people declaim more, people work harder, And the Lafa cova
• 1:37:13
  Speaker 1: has been proven over and over and over again that
• 1:37:15
  Speaker 1: at least within a range, it definitely works. So I
• 1:37:19
  Speaker 1: don't think the laugha Covi in ande of itself is
• 1:37:21
  Speaker 1: much of a thing that I don't remember the details
• 1:37:24
  Speaker 1: of the Kansas experiment. Kansas lower taxes in some areas
• 1:37:29
  Speaker 1: and revenues plummeted, but I can't remember the details of it.
• 1:37:34
  Speaker 1: But all I can say is when you look at
• 1:37:36
  Speaker 1: the details and you look at people's analysis of it,
• 1:37:39
  Speaker 1: it did not refute the laugh for Cove. But look,
• 1:37:42
  Speaker 1: I'm not a I don't think the Lafa CoV is
• 1:37:44
  Speaker 1: that important. You know. I don't want to maximize government revenues.
• 1:37:47
  Speaker 1: I want to minimize government revenues, and I want to
• 1:37:49
  Speaker 1: minimize government expenses. I don't place any you know, none
• 1:37:55
  Speaker 1: of my ideas that dependent on the Lafa cove working.
• 1:37:58
  Speaker 1: But I don't think the Kansas experiment was an experiment
• 1:38:01
  Speaker 1: in the laugh of cove. But I cannot explain why
• 1:38:04
  Speaker 1: right now, because I looked at it twenty, you know,
• 1:38:08
  Speaker 1: fifteen years ago or ten years ago, whenever, and I
• 1:38:11
  Speaker 1: can't remember that. I can't remember what the details were.
• 1:38:19
  Speaker 1: Nate rephrasing my question from the other day. After an
• 1:38:23
  Speaker 1: activist hedge fund gains control of a company through a
• 1:38:28
  Speaker 1: hostile takeover, why did they typically then like to do
• 1:38:31
  Speaker 1: stock buybacks? Is this the pressure management? But again I
• 1:38:38
  Speaker 1: don't understand the question. When a hedge fund gains control
• 1:38:42
  Speaker 1: of a company, then there's no stock left, right, How
• 1:38:46
  Speaker 1: do you gain control of a company by buying a stock?
• 1:38:50
  Speaker 1: And you typically when you buy a stock, you have
• 1:38:53
  Speaker 1: to buy all of it through a tender offer. It's
• 1:38:58
  Speaker 1: not the case that hedge funds by fifty one percent
• 1:39:00
  Speaker 1: of a company. Now you know, let's say they do,
• 1:39:07
  Speaker 1: they only buy a certain percentage of it. One of
• 1:39:09
  Speaker 1: the reasons to do a stock buyback is to get
• 1:39:12
  Speaker 1: rid of all the cash that this company has maintained,
• 1:39:16
  Speaker 1: which cannot be invested because the company, these older companies
• 1:39:21
  Speaker 1: don't have good investment opportunities. The hedge fund or private
• 1:39:26
  Speaker 1: equity fund wants to return that cash to investors, to
• 1:39:30
  Speaker 1: the owners so that they can use that cash to invest,
• 1:39:36
  Speaker 1: but the company itself. The reason stock buybacks makes sense.
• 1:39:39
  Speaker 1: This is true of any company is when a company
• 1:39:42
  Speaker 1: doesn't have investment opportunities that are large enough, investment opportunities
• 1:39:50
  Speaker 1: that will return that are profitable enough to justify investing
• 1:39:54
  Speaker 1: in them. So they take that money and they return
• 1:39:58
  Speaker 1: it to shareholders. They could do it through a dividend,
• 1:40:01
  Speaker 1: but dividends are taxed at a relatively high rate. Or
• 1:40:05
  Speaker 1: they could do it through a stock buyback, which is
• 1:40:08
  Speaker 1: only taxed at capital gains rates, which is a significant
• 1:40:11
  Speaker 1: lower tax rate. So shareholders appreciated. So that's the best
• 1:40:16
  Speaker 1: I can do, given that I don't I don't think
• 1:40:19
  Speaker 1: you quite. I mean, give me an example would be good, right,
• 1:40:24
  Speaker 1: an example of a company that was taken over and
• 1:40:26
  Speaker 1: then did the stock buyback, And I'll I can dig
• 1:40:30
  Speaker 1: into something, Michael says, who invited you to the debate
• 1:40:34
  Speaker 1: in San Francisco? Did Christian groups reach out to you?
• 1:40:37
  Speaker 1: Do you find you're getting recognized more when you travel?
• 1:40:44
  Speaker 1: It was a a friend and objectivist in San Francisco
• 1:40:49
  Speaker 1: who reached out to this group suggested that I come.
• 1:40:52
  Speaker 1: They knew who I was, and they were eager to
• 1:40:55
  Speaker 1: do it. They you know, and this friend also helped
• 1:40:58
  Speaker 1: get them a really good sized audience. Uh, this is
• 1:41:03
  Speaker 1: the same guy who organized my event in San Francisco
• 1:41:06
  Speaker 1: a year ago. Uh So there was a collaboration between
• 1:41:11
  Speaker 1: this Christian group and an objectivist and a few objectivists,
• 1:41:15
  Speaker 1: you know, kind of the remnant the the basically the
• 1:41:19
  Speaker 1: Objective's club up there. And people do recognize me when
• 1:41:26
  Speaker 1: I travel, people do recognize me in this in this
• 1:41:29
  Speaker 1: thing in uh in San Francisco, people did recognize me.
• 1:41:34
  Speaker 1: People recognized me. Young people came up to me at
• 1:41:37
  Speaker 1: this socialism debate and they were on the left, they
• 1:41:40
  Speaker 1: were on the socialist side, but they said they knew
• 1:41:43
  Speaker 1: I was and they recognized me from YouTube, from from
• 1:41:46
  Speaker 1: the short videos they see when they scroll through YouTube.
• 1:41:50
  Speaker 1: So yeah, I mean, the wood is getting out. It's
• 1:41:53
  Speaker 1: just people are not agreeing with me necessarily, all right,
• 1:41:56
  Speaker 1: Lincoln says, lovely, I can't wait to work in a
• 1:41:58
  Speaker 1: factory in Trump's new many facturing based on America. I
• 1:42:01
  Speaker 1: looked at my grandfather working in a literal sheet metal
• 1:42:04
  Speaker 1: factory and said, that's what I want to make my career. Well,
• 1:42:09
  Speaker 1: I know Lincoln is being cynical here, but yeah, I mean,
• 1:42:13
  Speaker 1: don't worry, it's not happening. That's the good news. Michael
• 1:42:18
  Speaker 1: do you do. We only need ten percent of population
• 1:42:22
  Speaker 1: to be rational and productive to not have another duck ages.
• 1:42:25
  Speaker 1: How would objectivism even rise from the ashes of the
• 1:42:29
  Speaker 1: next one. I don't know what the exact number is,
• 1:42:32
  Speaker 1: but ten percent seems right. Maybe it's twenty percent, but
• 1:42:35
  Speaker 1: it's it's a minority of people. Objectivism will rise and
• 1:42:39
  Speaker 1: the ashes of the next one because somebody will read
• 1:42:41
  Speaker 1: Einman's books and they will be studied in secrets, in
• 1:42:46
  Speaker 1: basement secrets, and those ideas will slowly be reintroduced into
• 1:42:50
  Speaker 1: the culture, and it'll take off, take off, and dominate Lincoln.
• 1:42:58
  Speaker 1: I would say impeach Trump over care options, for his
• 1:43:00
  Speaker 1: crypto scheme, but then that would mean president Vance, which
• 1:43:04
  Speaker 1: as farwards. Yes, but he should be impeached just to
• 1:43:08
  Speaker 1: make a statement for the sake of justice. He should
• 1:43:11
  Speaker 1: be impeached for all the corruption. But he won't be
• 1:43:14
  Speaker 1: no way Republicans will do that. He is the most
• 1:43:17
  Speaker 1: corrupt president in American history. Lincoln, which was seventeen, which
• 1:43:22
  Speaker 1: was seventeen years ago. Anyone under thirty five hasn't been
• 1:43:26
  Speaker 1: a working adult during a recession, which is not good. Well,
• 1:43:31
  Speaker 1: I don't know if it's not good, it's good not
• 1:43:33
  Speaker 1: to have recessions, but given how manipulated our economy is,
• 1:43:38
  Speaker 1: maybe recession is a valuable because they get to weed
• 1:43:41
  Speaker 1: out excesses and inefficiencies and unproductiveness. Normative rand Roid, thank
• 1:43:48
  Speaker 1: you for the sticker. I think, I think to everybody else? No,
• 1:43:54
  Speaker 1: no anyway, apple Jack, Yeah, apple Jack think of the
• 1:43:58
  Speaker 1: stick I think is everybody else? I mahadvowish something like that?
• 1:44:05
  Speaker 1: How you on call me? M okay, I cherish your existence?
• 1:44:09
  Speaker 1: Thank you? M heard of ex Mosat chief Ycorn's book
• 1:44:14
  Speaker 1: sort of Freedom politics awful, mosad in sites great. Yeah,
• 1:44:19
  Speaker 1: I mean the Masade is a pretty amazing entity in
• 1:44:22
  Speaker 1: spite of its chiefs often having pretty bad politics and
• 1:44:27
  Speaker 1: being generally slightly left of center. Paul con I forgot
• 1:44:32
  Speaker 1: to give you the ten dollars I promised yesterday. Well
• 1:44:35
  Speaker 1: thank you for doing it now. Jamie, which political politician
• 1:44:40
  Speaker 1: is best option in your opinion for next president and
• 1:44:43
  Speaker 1: who not in politics currently? Would you like to see
• 1:44:46
  Speaker 1: one for others? Oh? I don't know, I know. I
• 1:44:49
  Speaker 1: mean people have mentioned Jamie Diamond. I think he could
• 1:44:51
  Speaker 1: run as a Democrat and I would be I'd vote
• 1:44:54
  Speaker 1: for him. People have talked about Democrats, like what's his name,
• 1:44:58
  Speaker 1: the governor of Pennsylvania, NA. I don't think he could win,
• 1:45:02
  Speaker 1: but but somebody like that on the Republican side, I
• 1:45:06
  Speaker 1: still like Nikki Haley. I'm sure there are others, you know,
• 1:45:12
  Speaker 1: the Jokins, the just termed out governor of Virginia, the
• 1:45:20
  Speaker 1: former governor of Georgia might be pretty good. Or the
• 1:45:24
  Speaker 1: governor is going to be termed out of Georgia might
• 1:45:26
  Speaker 1: be pretty good. Probably some you know, Republican governors. I'm
• 1:45:34
  Speaker 1: thinking of people who could win, not just random people.
• 1:45:38
  Speaker 1: I'm sure there's some business leaders who who I could
• 1:45:41
  Speaker 1: be supportive of. I'd like somebody who's very away from
• 1:45:46
  Speaker 1: MAGA and very away from the far left, with some
• 1:45:54
  Speaker 1: executive experience. Stephen Katz all environmentalists bad? Don't Some of
• 1:46:00
  Speaker 1: them just want to improve the environment. Well, I don't
• 1:46:02
  Speaker 1: know what their environment is. We can get into a
• 1:46:04
  Speaker 1: whole discussion about environment and what that even means. But no,
• 1:46:10
  Speaker 1: A lot of environmentalists, you know, are pazzis of the intellectuals.
• 1:46:16
  Speaker 1: They think they might be doing good. They care about
• 1:46:19
  Speaker 1: clean air and clean water, don't we all it's the
• 1:46:22
  Speaker 1: intellectuals who are really, really bad. They're the ones who
• 1:46:25
  Speaker 1: need to be condemned. So I don't condemn all people
• 1:46:27
  Speaker 1: who hold environmental views. It's the intellectuals, and it's the
• 1:46:31
  Speaker 1: people who lead the movement in one way or the other.
• 1:46:34
  Speaker 1: It's spokesman, it's funders, it's people like that. Hi on
• 1:46:39
  Speaker 1: what do you think this is against? Stephen Katz of SAT,
• 1:46:42
  Speaker 1: that test high school students have to take to qualify
• 1:46:46
  Speaker 1: for admission to most colleges. I mean, I wonder if
• 1:46:50
  Speaker 1: it's a good tast I don't know. Again, it would
• 1:46:54
  Speaker 1: be cool to see university is actually developing their own
• 1:46:58
  Speaker 1: tests and coming up something more creative than testing everybody's same.
• 1:47:03
  Speaker 1: And Michael, in a follow up question or comment says
• 1:47:07
  Speaker 1: SATs are actually just i Q test. There's a high
• 1:47:10
  Speaker 1: correlation between SATs and IQ tests, although SATs are more
• 1:47:14
  Speaker 1: topic related. Look, I'm not against testing. I'm not against
• 1:47:18
  Speaker 1: testing people's knowledge. I don't And I think there's a
• 1:47:22
  Speaker 1: high correlation between SAT scores and performance in college and
• 1:47:27
  Speaker 1: success in college, so maybe they're a good measure for
• 1:47:31
  Speaker 1: college attendance. But I think the whole educational system needs
• 1:47:35
  Speaker 1: to be rethought from scratch. Colleges needs to be different
• 1:47:38
  Speaker 1: high school needs to be different, and I think at
• 1:47:40
  Speaker 1: the end of the day, there'd be a lot less
• 1:47:42
  Speaker 1: testing in terms of conventional tests. All right, Jamie, Should
• 1:47:48
  Speaker 1: law abiding, mentally well people be allowed to carry a
• 1:47:51
  Speaker 1: sidearm in public for safety and own weapons at home?
• 1:47:56
  Speaker 1: And can armed population really stop tranny if government has
• 1:48:00
  Speaker 1: drones tanks. No, I don't think an unpopulation can stop tiranny.
• 1:48:04
  Speaker 1: I really don't think that that is the solution for tyranny.
• 1:48:07
  Speaker 1: Tyranny is a consequence of ideas, and again they have
• 1:48:11
  Speaker 1: drones and tanks and lots of things. It just becomes
• 1:48:14
  Speaker 1: a civil war, which can be incredibly bloody. You know.
• 1:48:19
  Speaker 1: Should they be allowed to do it? My general sense
• 1:48:23
  Speaker 1: is no. It makes the police job very, very difficult
• 1:48:27
  Speaker 1: to be able to differentiate between law abiding citizens who
• 1:48:32
  Speaker 1: are carrying a gun for self defense and criminals who
• 1:48:35
  Speaker 1: are carrying a gun because they want to do harm.
• 1:48:39
  Speaker 1: So I don't think carrying out in the open makes
• 1:48:42
  Speaker 1: any sense, you know. I think if you carry a
• 1:48:48
  Speaker 1: concealed weapon, fine, but even concealed weapons, you're taking a
• 1:48:53
  Speaker 1: risk by carrying it. If you use it, you're going
• 1:48:56
  Speaker 1: to have to justify its use. If you draw it
• 1:48:59
  Speaker 1: you're going to have to justify drawing it. If you
• 1:49:02
  Speaker 1: draw it, you're gonna have to accept that there's then
• 1:49:04
  Speaker 1: there's a risk the law enforcement will shoot you. Uh.
• 1:49:08
  Speaker 1: You know, I think guns are dangerous, right and and uh,
• 1:49:13
  Speaker 1: in the hands of a relatively irrational population, they are
• 1:49:19
  Speaker 1: super dangerous. So I would rather live in just a
• 1:49:23
  Speaker 1: peaceful place, you know. I'd rather live in a place
• 1:49:26
  Speaker 1: where I don't feel like I need a gun to
• 1:49:28
  Speaker 1: protect myself. I don't want to. I don't want to
• 1:49:32
  Speaker 1: own a gun. I don't want to awail a gun.
• 1:49:34
  Speaker 1: I don't want to carry a gun. I had a
• 1:49:35
  Speaker 1: concealed weapons permit in California. I don't want that permit.
• 1:49:39
  Speaker 1: I never carried because I don't want it. I don't
• 1:49:43
  Speaker 1: I don't want to risk, you know, any accidents, And
• 1:49:48
  Speaker 1: I just don't feel comfortable with the gun. A gun
• 1:49:50
  Speaker 1: is about killing people. I want to live in a
• 1:49:52
  Speaker 1: place where I'm comfortable traveling and going and doing all
• 1:49:58
  Speaker 1: this stuff without needing a gun. Linda says, Wyoming is
• 1:50:04
  Speaker 1: an open carry law, and we have a very low
• 1:50:06
  Speaker 1: crime rate. I would guess that even if Wyoming band
• 1:50:10
  Speaker 1: open carry, it would have a very low crime rate.
• 1:50:13
  Speaker 1: I'm just guessing, but I'm pretty sure it's true. So
• 1:50:17
  Speaker 1: I'm not big on guns generally, and I'm not and
• 1:50:20
  Speaker 1: I'm not big on carrying them all the time. I mean,
• 1:50:24
  Speaker 1: I would not want to live in a place. I mean,
• 1:50:26
  Speaker 1: I mean this is maybe I shouldn't live in Wiming.
• 1:50:28
  Speaker 1: I do not want to live in a place where
• 1:50:32
  Speaker 1: you need to carry a gun to make it safe. Now,
• 1:50:37
  Speaker 1: Wymerings already safe, so carrying a gun doesn't cost anything,
• 1:50:40
  Speaker 1: I guess. But it's not safe because of open carry law.
• 1:50:45
  Speaker 1: It's safe because of the thin population, the kind of
• 1:50:48
  Speaker 1: people who are there. You know, you could lots of
• 1:50:53
  Speaker 1: reasons why it's safe. Thoughts on Brian Johnson and they
• 1:50:58
  Speaker 1: don't dye movement, I mean, Brian Johnson my only thought.
• 1:51:02
  Speaker 1: I mean, he's a bit of a freak and it's
• 1:51:04
  Speaker 1: a little crazy what he's doing. But on the other hand,
• 1:51:09
  Speaker 1: let him do it. I'm eager to learn what works
• 1:51:11
  Speaker 1: and what doesn't. He's a guinea pig and I don't
• 1:51:15
  Speaker 1: know what the movement is. The idea of not dying,
• 1:51:19
  Speaker 1: I'm cool with that. I think that's great if it's achievable.
• 1:51:23
  Speaker 1: Let's learn from people like Brian Johnson, what works and
• 1:51:27
  Speaker 1: what doesn't, and then do it and apply it to
• 1:51:30
  Speaker 1: as many people as possible. So I think he's a
• 1:51:33
  Speaker 1: weird guy, and I've seen documentaries about him and stuff,
• 1:51:36
  Speaker 1: and he's kind of a weird guy. But he's doing
• 1:51:39
  Speaker 1: something that will benefit all of us, and he seems
• 1:51:41
  Speaker 1: to be enjoying it, seems to value it. So go
• 1:51:43
  Speaker 1: for it. Right, We've got eight minutes. We'll see. There
• 1:51:46
  Speaker 1: might be a few questions. I have to wait for tomorrow.
• 1:51:50
  Speaker 1: Michael says. Democrats in nineteen nineties there a big gouman
• 1:51:52
  Speaker 1: is over that was book Clinton. Democrats they free stuff
• 1:51:55
  Speaker 1: twenty twenty five. Yeah, but I don't know why you're
• 1:51:59
  Speaker 1: just saying Demo Republicans today free stuff twenty twenty five.
• 1:52:02
  Speaker 1: I mean, look at Trump, who wants to send us
• 1:52:04
  Speaker 1: all a check funded with debt for two thousand dollars
• 1:52:09
  Speaker 1: Reggie Tucker whitewash. Point is Trump whitewash Tucker? Trump is
• 1:52:14
  Speaker 1: irredeemably eviable after this, No good action of his will
• 1:52:18
  Speaker 1: change my verdict of Trump. That's been my verdict of
• 1:52:20
  Speaker 1: Trump for ten years. So I'm with you, Kim. Should
• 1:52:25
  Speaker 1: one go to New York City before and Donny ruins it. No,
• 1:52:28
  Speaker 1: I mean, I mean, sure, go to New York City,
• 1:52:31
  Speaker 1: But you're going to be fine in New York City
• 1:52:33
  Speaker 1: after mo'm Donnie's there as well. He's not going to
• 1:52:36
  Speaker 1: ruin it. New York City's not gonna be ruined quickly.
• 1:52:40
  Speaker 1: And my guess is a year into ma'm Donnie's reign
• 1:52:43
  Speaker 1: as mayor, you won't see much of a difference. Now.
• 1:52:46
  Speaker 1: I might be wrong. He might move very fast, and
• 1:52:49
  Speaker 1: he might he might ultimately defund the police, even though
• 1:52:52
  Speaker 1: that wasn't part of his agenda. But we'll see. I
• 1:52:56
  Speaker 1: wouldn't rush to do it. Go see New York Bogdan,
• 1:53:02
  Speaker 1: please answer the dilemma email paid for by PayPal. I'll
• 1:53:09
  Speaker 1: look for it. I don't remember seeing a dilemma email.
• 1:53:14
  Speaker 1: Maybe I did. God, my memory is so freaking bad.
• 1:53:18
  Speaker 1: I'll look for it. I apologize, all right, Rafel, very
• 1:53:23
  Speaker 1: good week in m and A. Got eight offers on
• 1:53:26
  Speaker 1: my first deal. Cheers you on congratulations. That's terrific, terrific, terrific.
• 1:53:31
  Speaker 1: You know, Rafel is going to be a gazillion you know,
• 1:53:35
  Speaker 1: gazillionaire one day, running a private equity fund, you know,
• 1:53:39
  Speaker 1: buying and selling companies, and he's going to become a big, big,
• 1:53:42
  Speaker 1: big time contributor to the run bookshop. All right, is
• 1:53:48
  Speaker 1: it necessary to understand the origin of your irrational emotions
• 1:53:52
  Speaker 1: to correct them? Can you just recognize why it is
• 1:53:54
  Speaker 1: irrational and act rationally? Well, something that you can act rationally.
• 1:53:58
  Speaker 1: The question is what you still feel the emotion? You
• 1:54:03
  Speaker 1: at least need to I don't know if you have
• 1:54:06
  Speaker 1: to identify, Probably not, But you have to really do
• 1:54:10
  Speaker 1: the work of undoing, of trying to figure out what
• 1:54:13
  Speaker 1: kind of conclusions led to it and trying to undo those,
• 1:54:16
  Speaker 1: so it takes real work. You shouldn't act based on
• 1:54:20
  Speaker 1: irrational emotions or emotions based on irrational ideas and emotions
• 1:54:26
  Speaker 1: and every irrational they just are right. They're based on
• 1:54:29
  Speaker 1: irrational conclusions, some of them. But you need to change
• 1:54:34
  Speaker 1: those conclusions one way or the other, and that takes work.
• 1:54:37
  Speaker 1: And then because what you want is not to be
• 1:54:40
  Speaker 1: confronted with those emotions. Lincoln, in my opinion, the prestigious
• 1:54:45
  Speaker 1: colleges would accept more people, but would be a lot
• 1:54:48
  Speaker 1: harder to finish once you get into Harvard and Stanford
• 1:54:52
  Speaker 1: is basically a cakewalk these days. I mean American universities
• 1:54:57
  Speaker 1: are easy. I mean, having come from the university, American
• 1:55:01
  Speaker 1: universities are generally easy. I don't know if Horbard and
• 1:55:04
  Speaker 1: Stafford are cakewalks, but they do have great inflation. Definitely,
• 1:55:08
  Speaker 1: I know that in Stanford, so yes, it should be
• 1:55:12
  Speaker 1: a lot harder. Okay, last question, I like numbers. If
• 1:55:16
  Speaker 1: we shouldn't rebel to fight tyranny, how can you then
• 1:55:19
  Speaker 1: say a people are responsible for their own deaths if
• 1:55:22
  Speaker 1: they let themselves live in tuny Oh. I didn't say
• 1:55:25
  Speaker 1: you shouldn't rebel. I just don't think you should expect
• 1:55:30
  Speaker 1: to be successful. I mean you should rebel because you
• 1:55:33
  Speaker 1: should fight for freedom, But the odds are that you
• 1:55:36
  Speaker 1: won't prevent freedom by fighting. This is why you should
• 1:55:40
  Speaker 1: fight the intellectual battle well before it gets to the
• 1:55:44
  Speaker 1: point where you have to use weapons. Weapons are a
• 1:55:47
  Speaker 1: last resort. Try to fight tyranny before the need for
• 1:55:53
  Speaker 1: weapons rises. So fight it intellectually, ideologically, before it becomes tuanny.
• 1:56:01
  Speaker 1: All right, thank you everybody. We basically reached our target
• 1:56:05
  Speaker 1: with five dollars off. Maybe someone can step in with
• 1:56:07
  Speaker 1: five dollars, but we basically reached our target. I appreciate that.
• 1:56:11
  Speaker 1: Thank you. Volsha reached my heart stop. I will see
• 1:56:15
  Speaker 1: you all tomorrow. By everybody,