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French Apologists; Ukraine; Gulf; Cronyism; Achievements | Yaron Brook Show · Yaron Brook Show

• 0:02
  Speaker 1: The Radical. Fundamental Principles of Freedom. Rational Self-Interest. And Individual Rights.
• 0:14
  Speaker 1: This is the Yaron Brook Show. Alright everybody, welcome to
• 0:21
  Speaker 1: Yaron Brook Show on this Tuesday, October 20th. It's going
• 0:27
  Speaker 1: to be our last show for a while, unfortunately. All right,
• 0:32
  Speaker 1: let us just jump in. I mean, yesterday I told
• 0:34
  Speaker 1: you that these French riots were driven by nihilists and
• 0:45
  Speaker 1: people who just wanted to exploit looting, but also by
• 0:50
  Speaker 1: a far-left ideology. that demands a more state that resents
• 0:58
  Speaker 1: and rejects private property and blames all on capitalism. And today,
• 1:08
  Speaker 1: the people who actually believe that went on television and
• 1:14
  Speaker 1: said so. We'll talk about that. In the meantime, last
• 1:18
  Speaker 1: night was pretty calm in France. Confuses were extended now
• 1:22
  Speaker 1: through Tuesday. you know, where the situation requires it. Tuesday's today,
• 1:28
  Speaker 1: of course, we're through today. So where the situation requires it. Nice,
• 1:34
  Speaker 1: they've been extended until Sunday. Nice must require it. Again, 2,500
• 1:40
  Speaker 1: people arrested. 700 are going to be tried in the
• 1:43
  Speaker 1: next two days by expedited procedure. I hope they go
• 1:47
  Speaker 1: to jail. And with court-appointed lawyers, my guess is they're
• 1:51
  Speaker 1: all going to get off pretty easily. Uh, you know,
• 1:55
  Speaker 1: we'll see, suppose the justice minister is saying the French
• 1:57
  Speaker 1: people demand the utmost firmness. We'll see how firm the, uh,
• 2:03
  Speaker 1: French authorities are willing to do. Uh, the number of
• 2:07
  Speaker 1: looted shops is now being put at 3000. I think
• 2:10
  Speaker 1: yesterday I said 1500, 2000, 3000 today. Um, Unions are
• 2:17
  Speaker 1: calling a nationwide strike for November 5th. Not sure exactly why.
• 2:22
  Speaker 1: Are they striking against the demonstrators? Are they striking against
• 2:27
  Speaker 1: the police? Are they striking against the government because they
• 2:30
  Speaker 1: want more money from the government like everybody else? Macron
• 2:39
  Speaker 1: has announced that he's going to get 200,000 additional tons
• 2:43
  Speaker 1: a month of extra diesel. from the UAE and Bahrain,
• 2:47
  Speaker 1: which suggests that ships are flowing because the only way
• 2:51
  Speaker 1: to get diesel is on those ships. That's about 10%
• 2:54
  Speaker 1: of French consumption. That should drive diesel prices down. So
• 2:57
  Speaker 1: the fishermen got what they wanted. Now the unions and
• 3:03
  Speaker 1: the students, students are calling for new demonstrations on Saturday.
• 3:08
  Speaker 1: And now we need everybody else to get what they wanted.
• 3:12
  Speaker 1: And maybe the French government should just spend 100% of GDP,
• 3:18
  Speaker 1: why have a private sector at all when we're smashing
• 3:21
  Speaker 1: their windows anyway? You know, so expect riots on Saturday again,
• 3:33
  Speaker 1: I think. Expect all kind of mayhem over the next
• 3:40
  Speaker 1: few weeks. The election is next year. This has a
• 3:43
  Speaker 1: lot to do with the election. We'll get to that.
• 3:45
  Speaker 1: We'll get some quotes from French politicians, and you'll see
• 3:49
  Speaker 1: exactly how it is connected. These riots are very much
• 3:59
  Speaker 1: kind of the left getting its base excited, the leftist
• 4:06
  Speaker 1: Islamist alliance getting the people excited, maybe doing some redistribution
• 4:10
  Speaker 1: of wealth. in the meantime so yeah things are going
• 4:18
  Speaker 1: to continue and to be bad in France and the
• 4:23
  Speaker 1: extent to which this spreads across Europe is going to
• 4:26
  Speaker 1: be interesting but of course France has a particular affinity
• 4:32
  Speaker 1: to rioting that maybe don't exist elsewhere so some video
• 4:41
  Speaker 1: is circulating from French television, uh, from last night, from Monday. And, uh,
• 4:49
  Speaker 1: you know, where different people are going out and, and
• 4:51
  Speaker 1: kind of defending or talking about the riots. And, uh,
• 4:55
  Speaker 1: one particular is, is making the rounds right now. It's
• 4:58
  Speaker 1: from LCI, which I assume is a French television show,
• 5:02
  Speaker 1: like grand confrontation. Even I know what that means. Um,
• 5:09
  Speaker 1: And one of the panelists, several panelists, one of the
• 5:12
  Speaker 1: panelists is Lola Floor Whittaker, a what appears to be
• 5:18
  Speaker 1: comes from an upper middle class family. Her father's an executive.
• 5:22
  Speaker 1: Her mother supposedly is a teacher. And she's 22 years old.
• 5:26
  Speaker 1: She studies at Port Paris. She is a TikTok Instagram
• 5:32
  Speaker 1: political creator, whatever that is. Influencer, I think is the name.
• 5:36
  Speaker 1: I forgot her Turn on these lights. One second. Let
• 5:38
  Speaker 1: me turn on the lights. Yeah, I think that makes
• 5:45
  Speaker 1: my background look better. All right. And she is a
• 5:51
  Speaker 1: member of the LFI. So far left. She attended Melchon's
• 5:58
  Speaker 1: first digital media press conference. She's an influencer. And Melchon,
• 6:03
  Speaker 1: of course, is the presidential candidate of the far left.
• 6:07
  Speaker 1: Across from her. Well, not really across from her, but
• 6:09
  Speaker 1: just behind her. Just behind her because there were two
• 6:11
  Speaker 1: rows of panelists. I said, Jemima Sheila. Jemima Sheila. Not
• 6:20
  Speaker 1: a French name. No. An immigrant. Born in the Congo.
• 6:26
  Speaker 1: Arrived in France at the age of five. Grew up
• 6:31
  Speaker 1: in some of the, you know, worst neighborhoods. Grew up
• 6:38
  Speaker 1: as a young woman, you know, lived in an apartment
• 6:41
  Speaker 1: of 10 square meters. That's about 110 square foot for
• 6:45
  Speaker 1: those of you who are not in the metric system yet.
• 6:49
  Speaker 1: She now runs a business with 110 employees. Let me
• 6:57
  Speaker 1: see if this opens. Yeah. Yeah. So this is an
• 7:05
  Speaker 1: exchange between them. Right? The 22-year-old blonde, the 22-year-old blonde, tells,
• 7:16
  Speaker 1: you know, is speaking, and she says, you have no
• 7:17
  Speaker 1: idea how lucky you are. You have, you know, she's
• 7:20
  Speaker 1: talking to the businesswoman and to the other people in
• 7:23
  Speaker 1: the panel. You have things to lose. The people in
• 7:27
  Speaker 1: these protests, us, she's talking about herself, right? She goes,
• 7:32
  Speaker 1: upper middle class family we have nothing to lose and
• 7:36
  Speaker 1: then she adds with with your contempt in her voice
• 7:39
  Speaker 1: real contempt in her voice now you know i'm i'm
• 7:43
  Speaker 1: meeting your translation but but you can listen to the
• 7:46
  Speaker 1: thing and you can you can hear her voice your
• 7:49
  Speaker 1: little shops that's cute great okay The foot lockers that
• 7:57
  Speaker 1: got looted. But actually, there's a reality. Real suffering of
• 8:01
  Speaker 1: the French. Right? The real suffering of the French. The
• 8:11
  Speaker 1: hell with these shops. I mean, the entrepreneur. Clearly, heartbroken.
• 8:20
  Speaker 1: This young woman from the Congo. Black. Not white. native,
• 8:27
  Speaker 1: what do they call it? Not heritage French. Not heritage
• 8:31
  Speaker 1: French at all. She said, when I arrived here, I
• 8:36
  Speaker 1: had a choice, okay? To endure a situation or to
• 8:40
  Speaker 1: get back up. You're talking to me about misery? You're
• 8:47
  Speaker 1: telling me? I cried because my storefront is broken. But
• 8:53
  Speaker 1: this is my life, Lola. This is my life. I
• 8:56
  Speaker 1: have children. I have employees who are terrified. What answer
• 9:01
  Speaker 1: can you give them? I mean, this is not a
• 9:15
  Speaker 1: conflict between immigrants and heritage French. This is a conflict
• 9:21
  Speaker 1: between the productive French This is a conflict between people
• 9:25
  Speaker 1: who work for a living. This is a conflict between
• 9:29
  Speaker 1: people who stand on their own two feet and want
• 9:33
  Speaker 1: to continue doing so. And between leftist, communist, haters of
• 9:41
  Speaker 1: private property, we'll get to that in a minute, looters
• 9:47
  Speaker 1: who just want to take advantage of any opportunity to
• 9:50
  Speaker 1: loot and to steal and to take, Moochers who've lived
• 9:53
  Speaker 1: their entire lives off of the welfare state and who
• 9:57
  Speaker 1: demand more welfare. and ignorant young kids who don't know anything,
• 10:07
  Speaker 1: but that the state is supposed to take care of them.
• 10:19
  Speaker 1: And many of the productive people who stand on their
• 10:22
  Speaker 1: two feet, people who are building, people who are creating,
• 10:25
  Speaker 1: are immigrants. Like this woman from the Congo. One of
• 10:33
  Speaker 1: the real shithole places in the world. But she is
• 10:39
  Speaker 1: on the right side. The upper middle class white kid
• 10:44
  Speaker 1: with blonde hair, she is on the wrong side. Because
• 10:50
  Speaker 1: she's a spoiled brat who's bought into communist propaganda. And
• 11:00
  Speaker 1: you see this, you know, all across. You know, at
• 11:09
  Speaker 1: some point, the mayor of Cannes, the Cannes Festival, the
• 11:14
  Speaker 1: mayor of Cannes, David Lysnard, She tells David Lesnard to
• 11:20
  Speaker 1: remember October 17th, 1961, when he asked what Algerian flags
• 11:26
  Speaker 1: were doing at a riot about French schools. What the hell?
• 11:30
  Speaker 1: Why Algerian flags being flown? Lesnard says, I don't care, madam.
• 11:39
  Speaker 1: He's talking to the young heritage French woman. I don't care, madam.
• 11:45
  Speaker 1: I wasn't born then. Algeria has been independent since then.
• 11:50
  Speaker 1: We've moved on. We know your rhetoric by heart. So, yeah,
• 12:09
  Speaker 1: you don't know. You have no idea how lucky you are.
• 12:11
  Speaker 1: She is lecturing to the immigrants who are there. Commenting
• 12:21
  Speaker 1: on this exchange, Thomas Chatterton Williams writes, quote, the most
• 12:25
  Speaker 1: heinous figures to emerge from all this foolishness are the
• 12:29
  Speaker 1: telegenic bourgeois fake militants playing at revolution, like this girl
• 12:35
  Speaker 1: pretending to have nothing to lose and being properly rebuked
• 12:38
  Speaker 1: by an immigrant who simply wants to work hard and
• 12:41
  Speaker 1: have a business. He continues, it strains crudelity that this
• 12:47
  Speaker 1: is a real person, but it is. A historian, Eric Ansu, writes, quote,
• 12:55
  Speaker 1: between Lola Fleur, a young bourgeois ideologue who knows nothing
• 13:00
  Speaker 1: of life but lectures everyone, and Jemima, born in the Congo,
• 13:05
  Speaker 1: who lived in 10 square meters and became a business owner,
• 13:09
  Speaker 1: no need to tell you my preference. And this is repeated.
• 13:23
  Speaker 1: So at the Place de la République in Paris, this
• 13:29
  Speaker 1: is two days ago, filmed, this was filmed two days ago,
• 13:33
  Speaker 1: the morning after kind of the big violent night. There's
• 13:37
  Speaker 1: a young mother, unnamed. She describes barricading herself in her
• 13:42
  Speaker 1: apartment with her infant while men below looted the shop downstairs.
• 13:48
  Speaker 1: And she says, they said they were going to rape me.
• 13:51
  Speaker 1: Because I was a filthy bourgeoisie. Notice, bourgeoisie. This is
• 13:56
  Speaker 1: the language of Marx. This is the language of the left.
• 14:02
  Speaker 1: They're going to rape her because she's a bourgeoisie, not
• 14:04
  Speaker 1: because she's a particular color, a particular ethnicity, or a particular,
• 14:08
  Speaker 1: you know, nationality, but because she's bourgeoisie. Because I was
• 14:15
  Speaker 1: stopping them from looting the little store downstairs. Then she
• 14:19
  Speaker 1: turns to the activists. who's standing beside her. You are
• 14:22
  Speaker 1: justifying this violence? Now, the activist she's talking to is
• 14:28
  Speaker 1: a woman by the name of Bettina Zuli. She's an author,
• 14:36
  Speaker 1: a sociology lecturer at Université René. Again, I apologize to
• 14:42
  Speaker 1: French people for the translations. An author of Child Free,
• 14:50
  Speaker 1: a book about not having kids. She is a self-described feminist, child-free,
• 14:55
  Speaker 1: and antifa. And this is her reply, verbatim translated, about
• 15:01
  Speaker 1: the looted shops. But that's private property. It doesn't matter.
• 15:06
  Speaker 1: It doesn't matter. This is what makes the riots possible.
• 15:14
  Speaker 1: These are the intellectuals that are destroying France and destroying Europe.
• 15:19
  Speaker 1: Not because they're so welcoming to immigrants, but because when
• 15:23
  Speaker 1: the immigrants come, they tell them private property, take it.
• 15:27
  Speaker 1: Nobody cares. Because they teach them leftist ideology, which the
• 15:32
  Speaker 1: immigrants might take seriously, might not. And if they don't,
• 15:36
  Speaker 1: they just see it as an opportunity to loot in
• 15:38
  Speaker 1: some cases. This is how they're assimilating them into French society.
• 15:43
  Speaker 1: They're assimilating into communism, into French socialism. And then when
• 15:51
  Speaker 1: it comes to the rape threat, when the woman asks
• 15:54
  Speaker 1: about the rape, I mean, this is unbelievable. That's collateral damage.
• 16:04
  Speaker 1: The mother says, oh, great. Right. And she then adds
• 16:10
  Speaker 1: pacifist activism doesn't work. Right. And the activist Bettina says
• 16:18
  Speaker 1: revolution isn't calm. I'm for revolution. Absolutely yes. Trashing BNP Paribas,
• 16:26
  Speaker 1: local bank, is normal. It's the source of our problem, actually.
• 16:32
  Speaker 1: And then she's asked if she justifies violence. No, not
• 16:35
  Speaker 1: at all. But it's collateral damage if this woman gets raped.
• 16:42
  Speaker 1: Collateral damage. These are the people saying Israel commits genocide.
• 16:52
  Speaker 1: It's these French people, these French intellectuals, these French leftists,
• 17:02
  Speaker 1: and God, does France have a long tradition of leftists
• 17:06
  Speaker 1: who are destroying France. Immigrants, they're just caught up in this.
• 17:16
  Speaker 1: They're just, you know, the leftists tell them, go for it.
• 17:22
  Speaker 1: They go for it. Right? So, third example. Bali Bagayoko,
• 17:49
  Speaker 1: the LFI mayor of St. Denis. LFI, far left, right?
• 17:54
  Speaker 1: He's the mayor of St. Denis. Outside a blockade of
• 18:00
  Speaker 1: La Cie, and this is going back to September 29th,
• 18:03
  Speaker 1: when it was still mostly students. He says, violence at
• 18:08
  Speaker 1: a certain point can be legitimate. The Paris police prefect
• 18:15
  Speaker 1: referred him to a prosecutor on September 30th for incitement
• 18:19
  Speaker 1: to commit an offense. On October 1, he didn't withdraw
• 18:26
  Speaker 1: the remark, said he never really called for violence, and
• 18:30
  Speaker 1: asked for de-escalation. Never charged, as far as we know.
• 18:41
  Speaker 1: Think about this. A mayor addressing 14 to 16-year-olds, telling
• 18:49
  Speaker 1: them violence at a certain point can be legitimate? I mean,
• 18:53
  Speaker 1: it can be. But when you're asking for more money
• 18:56
  Speaker 1: to fix the schools, it can be legitimate? And if
• 19:05
  Speaker 1: you look at LFI, the political party, this month, LFI,
• 19:10
  Speaker 1: one of LFI's deputies in the parliament, About the protests.
• 19:14
  Speaker 1: The protests take the form they want. We won't be firefighters.
• 19:18
  Speaker 1: In other words, he's not going to tell his people
• 19:21
  Speaker 1: to hold back. The mayor of Roubois. I don't know
• 19:25
  Speaker 1: what that is. A town, right? A city. We come
• 19:29
  Speaker 1: in peace, but we are not calling for calm. The
• 19:33
  Speaker 1: assembly vice president. We will sweep away the old world. Revolution. Revolution. Mélenchon,
• 19:42
  Speaker 1: the leader of the far left, asked by Lamont whether
• 19:46
  Speaker 1: he'd adopt ACAB. ACAB basically means all police are pigs
• 19:53
  Speaker 1: or bad, right, evil, you know, do whatever you want
• 19:57
  Speaker 1: to them. He says it depends on the day and
• 19:59
  Speaker 1: the hour. And when asked about injured police, he says, oh,
• 20:09
  Speaker 1: that's just part of the job. Now, Macron also tries
• 20:15
  Speaker 1: to distance himself from looting and pillaging. But, you know,
• 20:25
  Speaker 1: everybody knows he doesn't mean it. Christopher Poudhon, a regional concilier, again, leftist, quote,
• 20:37
  Speaker 1: Louis XIV, we beheaded him. Macron, we can do it again.
• 20:46
  Speaker 1: But they're not for violence. No. No. And here's a
• 20:52
  Speaker 1: British socialist worker who is in France and kind of
• 20:58
  Speaker 1: says what the LFI, I guess, is only hinting at.
• 21:04
  Speaker 1: She says, the riots are political. She says, stealing banded
• 21:08
  Speaker 1: goods is one method they have to redress injustice they face.
• 21:14
  Speaker 1: Remember when the mayor of Chicago during the Black Lives
• 21:18
  Speaker 1: Matter riots said it's a form of redistribution of wealth?
• 21:28
  Speaker 1: She continues, our criticism of the riots is they don't
• 21:31
  Speaker 1: go far enough. And that, what the hell, Melchion is
• 21:37
  Speaker 1: distancing himself. So, you know, you've got the far left hedging, right?
• 21:50
  Speaker 1: I mean, and you can find others, you can find others,
• 21:52
  Speaker 1: you know, these videos of these Asian shopkeepers, these Asian women,
• 21:58
  Speaker 1: you know, fighting off the looters with brooms, defending their stores,
• 22:04
  Speaker 1: standing up to these bastards. Immigrants, immigrants, God, immigrants. I
• 22:11
  Speaker 1: thought immigrants were the problem. It's all immigration. Can't even
• 22:16
  Speaker 1: differentiate immigrant from immigrant. And then you've got a video
• 22:22
  Speaker 1: of somebody saying, again, a heritage Frenchman saying, all this
• 22:28
  Speaker 1: is because of, you know, the police and the police,
• 22:31
  Speaker 1: the police in France, the police in Paris. They're inspired
• 22:34
  Speaker 1: by Israel. The way they fight us is, you know,
• 22:39
  Speaker 1: the way Israel oppresses people in Gaza. Phony then you.
• 22:47
  Speaker 1: So everything, by the way, everything, just so you know,
• 22:50
  Speaker 1: everything bad that happens in the world, everything bad that
• 22:53
  Speaker 1: happens in the world is caused by, but don't tell anybody,
• 23:01
  Speaker 1: the Jews. And if you don't want to say the
• 23:04
  Speaker 1: Jews because, you know, it makes you feel uncomfortable to
• 23:07
  Speaker 1: say the Jews, just say the Zionists or say the
• 23:10
  Speaker 1: Israelis and then you're okay. Then then you're fine because
• 23:14
  Speaker 1: you're not anti-Semitic. You're just, you're just, right? It's all
• 23:17
  Speaker 1: the same, right? It's disgusting. But it is the world
• 23:27
  Speaker 1: in which we live. Right? I mean, here's the thing.
• 23:36
  Speaker 1: Swept up in all of this will be anti-immigrants, which
• 23:41
  Speaker 1: equates to The looters with the shopkeepers. With the people
• 23:46
  Speaker 1: protecting their businesses. With the people just wanting to live
• 23:50
  Speaker 1: their lives and raise families. And similarly, in defense society.
• 24:02
  Speaker 1: They are the same as the looters. They're all immigrants.
• 24:04
  Speaker 1: Immigrants are bad. I think that's Trump and J.D. Vance's line.
• 24:11
  Speaker 1: And we'll see. If Le Pen is willing to differentiate
• 24:20
  Speaker 1: immigrants who are looters, immigrants who are builders, because in
• 24:24
  Speaker 1: America we've lost the capacity to differentiate. We're just anti-immigrants.
• 24:29
  Speaker 1: Hate them all. Particularly the ones who are productive like
• 24:31
  Speaker 1: the Indian immigrants who are particularly productive. That's who we hate. And,
• 24:44
  Speaker 1: of course, the left is promoting the line and continues
• 24:47
  Speaker 1: to promote the line. The looters have nothing, so taking
• 24:50
  Speaker 1: is fine. We don't even know that the looters have nothing.
• 24:54
  Speaker 1: It doesn't matter, but looting is fine. It's redistribution of wealth,
• 24:58
  Speaker 1: and it's private property, so it doesn't really matter. Shop
• 25:02
  Speaker 1: doesn't count. A rape threat is collateral damage. Violence can
• 25:08
  Speaker 1: be legitimate. In other words, need is a license to
• 25:15
  Speaker 1: reach according to his need, from each according to his ability,
• 25:19
  Speaker 1: is a license to violence. And a person who has something,
• 25:28
  Speaker 1: no matter how we got it, he has something, he
• 25:30
  Speaker 1: built it, created it himself. He's a legitimate target for
• 25:35
  Speaker 1: the person who does not because he has ability and
• 25:37
  Speaker 1: hasn't given it up. He hasn't given up the stuff
• 25:40
  Speaker 1: that he created, made, to the person who has the need.
• 25:45
  Speaker 1: Revolutionary left. Now, I don't think this revolutionary left ideology
• 25:51
  Speaker 1: is going to stick in France. I don't think Melchon
• 25:55
  Speaker 1: will win, although it wins the youth. But what it
• 26:05
  Speaker 1: does is it resurrects a right. And it's going to
• 26:10
  Speaker 1: be interesting to see. Le Pen is really trying to
• 26:14
  Speaker 1: position herself to win. As part of that, she's really
• 26:17
  Speaker 1: trying to be moderate. She's trying to appeal to the center.
• 26:23
  Speaker 1: Will she govern that way? I don't know. I don't know.
• 26:31
  Speaker 1: But she is the winner of all this, I think.
• 26:34
  Speaker 1: She is the winner of all this. Because she will
• 26:38
  Speaker 1: position herself as the law and order president, and I
• 26:42
  Speaker 1: think she will get the votes. Won't get the youth vote, maybe,
• 26:45
  Speaker 1: but she will get the vote. And note that a
• 26:47
  Speaker 1: lot of this language is going on on the American left. Right?
• 26:59
  Speaker 1: And it's going to have the same results in the
• 27:01
  Speaker 1: United States. It's only going to embolden the worst elements
• 27:06
  Speaker 1: on the right. I mean, think about we need more
• 27:12
  Speaker 1: money for schools and more money for this and more
• 27:14
  Speaker 1: money for that. Think Mamdani. Private property doesn't matter. Think PICA.
• 27:22
  Speaker 1: Housing should be free. Well, socialist workers, the D.S.I., Democratic
• 27:27
  Speaker 1: Socialists of America would certainly agree with that. Mamdani agrees
• 27:31
  Speaker 1: with that. PICA agrees with that. This is, you know,
• 27:38
  Speaker 1: this is the left now not hiding what they really
• 27:44
  Speaker 1: believe and growing in influence among young people. And it's
• 27:50
  Speaker 1: going to push people to the right. It's going to
• 27:55
  Speaker 1: push anybody who disagrees with them, which is still the majority,
• 28:01
  Speaker 1: to the right. and not to the good right, not
• 28:04
  Speaker 1: to the free market right, not to the liberty right,
• 28:06
  Speaker 1: not to the freedom right, to the nationalist, xenophobic, statist right.
• 28:13
  Speaker 1: I mean, Le Pen, in trying to get a lot
• 28:15
  Speaker 1: of votes, is saying, no, she's not cutting pensions, she's
• 28:19
  Speaker 1: not cutting government programs, she's going to cut the deficits somehow,
• 28:22
  Speaker 1: but she doesn't say why and how, and she doesn't
• 28:25
  Speaker 1: say how. No plan. She has no plan, because she
• 28:29
  Speaker 1: knows an actual plan would alienate Her voters, they want
• 28:34
  Speaker 1: everything to be the immigrants' fault and they don't want
• 28:38
  Speaker 1: anything to be cut. So a right that embraces the
• 28:44
  Speaker 1: welfare state, embraces the regulatory state, and now wants to
• 28:49
  Speaker 1: use the state to go after immigrants. That's the new right.
• 28:54
  Speaker 1: That's what it's all about. The reality is, that that
• 29:02
  Speaker 1: woman from the Congo should be the future. She is
• 29:07
  Speaker 1: more French than the 22-year-old. The 22-year-old from science proof
• 29:14
  Speaker 1: is the past. The aristocrats who never worked explaining to
• 29:21
  Speaker 1: the peasant why his cart should burn. Let them eat cake.
• 29:27
  Speaker 1: I mean, the line to remember is I mean, you
• 29:32
  Speaker 1: could remember private property, who cares? But the line to
• 29:35
  Speaker 1: remember in my view, and particularly in the tone she
• 29:37
  Speaker 1: says it, you're a little sharp. that's cute. Those little
• 29:45
  Speaker 1: shops are what keep the country going. Those little shops
• 29:52
  Speaker 1: are what employ people and pay for all the redistribution
• 29:57
  Speaker 1: of wealth. The mocking of a spoiled, arrogant, leftist, pseudo-intellectual,
• 30:06
  Speaker 1: of somebody who's actually building and making, creating, at whatever
• 30:09
  Speaker 1: scale they are. The one from the Congo is a hero.
• 30:13
  Speaker 1: This little French heritage person is the villain. Now, I'd
• 30:24
  Speaker 1: like to see Marie Le Pen say that. And again,
• 30:31
  Speaker 1: this is the ideology, this leftist ideology that is just
• 30:36
  Speaker 1: going to keep, keep, keep pushing people towards nationalism and
• 30:41
  Speaker 1: collectivism of the right. And then what do you do?
• 30:46
  Speaker 1: Collectivist on the left of you, collectivist on the right
• 30:49
  Speaker 1: to you. What are you going to do? What are
• 30:54
  Speaker 1: you going to do? All right. let's shift the focus.
• 31:04
  Speaker 1: Let's talk about Ukraine. So Zelensky told Bloomberg, I think
• 31:09
  Speaker 1: this morning, that the U.S. is delaying Patriot interceptors for Ukraine.
• 31:14
  Speaker 1: These are interceptors Ukraine's already paid for. Now, these are
• 31:18
  Speaker 1: not interceptors that are coming from the United States. These
• 31:24
  Speaker 1: are interceptors that are supposed to be shipped that are
• 31:27
  Speaker 1: already in Europe and just need to be transferred. From
• 31:30
  Speaker 1: Europe to... So they're not coming at the expense of
• 31:33
  Speaker 1: interceptors in the Middle East. He also blamed America for
• 31:41
  Speaker 1: throttling Starshield. And, you know, even the few interceptors that
• 31:50
  Speaker 1: are being sent, about 12 Patriots a month. There's not
• 31:54
  Speaker 1: much you can do with 12 Patriots a month. That's
• 31:56
  Speaker 1: about a quarter of what was sent to Ukraine during
• 31:58
  Speaker 1: the Biden era. supposedly, U.S. inventory is around 800. Others
• 32:06
  Speaker 1: say stockpiles are close to zero. So who knows what's
• 32:09
  Speaker 1: actually going on? Hegseth told the Washington Post that he
• 32:16
  Speaker 1: has not completed approvals for some partner transfers. He hasn't
• 32:21
  Speaker 1: formally rejected them. But he also said the Pentagon's policies
• 32:26
  Speaker 1: have not changed. They're playing coy. They're playing with Zelensky.
• 32:31
  Speaker 1: They're playing with Ukrainian lives. Rubio's in Mumbai. He says
• 32:38
  Speaker 1: interceptors were bought, but they may not have arrived yet. But, quote,
• 32:44
  Speaker 1: nothing is being deliberately denied, really. Reports say U.S. officials
• 32:51
  Speaker 1: threatened to halt delivery in order to stop the Ukrainians
• 32:57
  Speaker 1: from striking deep inside Russia territory. and hitting energy facilities.
• 33:03
  Speaker 1: A Zelensky advisor says Ukrainians are dying because of the
• 33:07
  Speaker 1: United States is withholding intelligence. Rubio says that's scandalous for
• 33:13
  Speaker 1: him to say that. Trump says somebody else other than
• 33:20
  Speaker 1: Zelensky should negotiate for Ukraine. Zelensky doesn't want to end
• 33:24
  Speaker 1: the war. In the meantime, Witkoff is meeting Zelensky in
• 33:28
  Speaker 1: Oslo today. Kushner is going to join them by video.
• 33:34
  Speaker 1: I mean that team, I mean, I mean, what do
• 33:38
  Speaker 1: you make of that team? Right. You know, uh, Kushner
• 33:44
  Speaker 1: and Witkoff, two real estate guys negotiating peace deals around
• 33:48
  Speaker 1: the world. It's pretty, it's pretty crazy. It's pretty insane. Um,
• 33:59
  Speaker 1: Norway and Finland, by the way, are hosting these meetings
• 34:02
  Speaker 1: between Witkow and Zelensky. And Tuesday morning, the Russian drones
• 34:08
  Speaker 1: killed at least 10 Ukrainians. Senator Tillis, Republican. Putin is
• 34:16
  Speaker 1: playing Trump like a fiddle. Quote, the Russians are lying.
• 34:21
  Speaker 1: Putin is lying. Now, Putin yesterday floated the idea, maybe
• 34:27
  Speaker 1: it was Sunday, of a Putin-Xi-Trump summit to cut a
• 34:35
  Speaker 1: deal over Ukraine. So we don't need Ukraine there, and
• 34:39
  Speaker 1: we don't want Europe there. I guess the United States
• 34:42
  Speaker 1: is going to, I mean, Donald Trump is going to
• 34:44
  Speaker 1: negotiate with Xi and Putin. What a frigging joke. I mean,
• 34:49
  Speaker 1: partially Putin is suggesting this because he knows that Trump
• 34:54
  Speaker 1: could probably not say no to Xi. He admires him
• 34:57
  Speaker 1: so much. Teller says such a summit is absurd. Yeah,
• 35:04
  Speaker 1: he's being generous. Now, yesterday we talked about this. Another
• 35:12
  Speaker 1: Republican congressman said he promised hearings and budget cuts over Starshield.
• 35:20
  Speaker 1: You know, a House Democrat accused Rubio and Trump of lying. Oh, wow. Wow.
• 35:29
  Speaker 1: I mean, to accuse Trump of lying is ridiculous. I mean,
• 35:33
  Speaker 1: it's all he knows. He's truth deficient. Truth challenged. I
• 35:39
  Speaker 1: think that's it. He's truth challenged. You shouldn't call him
• 35:42
  Speaker 1: a liar. It's just not nice. The guy's truth challenged.
• 35:45
  Speaker 1: He can't help himself. He really can't. The truth is
• 35:49
  Speaker 1: very hard. And he can't bring himself to do it.
• 35:56
  Speaker 1: According to the Washington Post, Russia is sensing victory. not
• 36:00
  Speaker 1: in the battlefield, and is cheering Trump's latest shift. So,
• 36:16
  Speaker 1: you know, Ukraine buys weapons. They might not have arrived.
• 36:23
  Speaker 1: This is not aid. It's not a favor. It's a purchase.
• 36:27
  Speaker 1: Congress has approved this program. Secretary of Defense is sitting
• 36:31
  Speaker 1: on the paperwork while Russia fires its largest barrages of
• 36:36
  Speaker 1: the war, killing civilians. Russia, the aggressor, Ukraine trying to
• 36:42
  Speaker 1: fight for its survival, and this administration does not care.
• 36:48
  Speaker 1: It would rather support the aggressor. Now, there seem to
• 36:54
  Speaker 1: be some beginnings of rebellion among the Republicans. Cruz and
• 36:58
  Speaker 1: Fitzpatrick yesterday tell us I'll believe it when I see it.
• 37:05
  Speaker 1: But it's also true that the president now sits on
• 37:08
  Speaker 1: a approval rating of 31%, which is the lowest he
• 37:13
  Speaker 1: has ever had. And I think the lowest of any
• 37:16
  Speaker 1: president has ever had. I don't know. So I don't
• 37:36
  Speaker 1: think anything's going to happen. We'll see what happens in
• 37:39
  Speaker 1: this meeting between Zelensky and Witkoff. I'd be surprised if anything.
• 37:44
  Speaker 1: And as I told you yesterday, my respect for Marco
• 37:48
  Speaker 1: Rubio declines every single day. I mean, the guy's pathetic.
• 37:56
  Speaker 1: I don't care if he gives half a good speech
• 38:01
  Speaker 1: in Athens or not. By the way, one question so far.
• 38:07
  Speaker 1: So Super Chat, you have no questions for me anymore?
• 38:10
  Speaker 1: I've answered everything. There's nothing to ask. Please ask questions.
• 38:14
  Speaker 1: That's the second half of the show is you asking
• 38:16
  Speaker 1: me questions and that fills the content and you get
• 38:21
  Speaker 1: to determine what I talk about. What I talk about.
• 38:25
  Speaker 1: So bring it on. Bring it on. And of course,
• 38:33
  Speaker 1: if you don't have a question... The Super Chat is available.
• 38:37
  Speaker 1: You can support the show through the Super Chat. Value
• 38:40
  Speaker 1: for value. We have a target for every hour. This
• 38:42
  Speaker 1: show is made possible. Exists. Sustain itself. I do a
• 38:48
  Speaker 1: show every day when I can. Because of the support
• 38:51
  Speaker 1: I get from you. So please keep it coming. Is
• 39:00
  Speaker 1: he better than Marco Polo? No. I'd vote for Marco
• 39:03
  Speaker 1: Polo in a heartbeat. Marco Polo, God, it's like heads
• 39:09
  Speaker 1: and shoulders above Marco Rubio. All right, let's turn now
• 39:16
  Speaker 1: to the Gulf, the Gulf, not the Gulf of America,
• 39:20
  Speaker 1: not the Gulf of Mexico. Did you see, by the way,
• 39:23
  Speaker 1: the tweet over the weekend where Donald Trump is demanding
• 39:25
  Speaker 1: that New Mexico change its name to New America? And
• 39:32
  Speaker 1: some of you would still vote for this guy. I know,
• 39:34
  Speaker 1: I know, you would. And some of you would proudly
• 39:38
  Speaker 1: vote for this guy. Not just because there were only
• 39:41
  Speaker 1: two options in the ballot, but you would vote for
• 39:43
  Speaker 1: him because you like him, even as you might deny
• 39:46
  Speaker 1: it sometimes. Anyway, the Gulf, Saudi Arabia, trying to figure
• 39:54
  Speaker 1: this out. Saudi Arabia under attack by the Houthis and
• 40:02
  Speaker 1: lacking their defense, enough air defense systems to shoot down
• 40:05
  Speaker 1: all the ballistic missiles and the drones that are being
• 40:10
  Speaker 1: flown to them is asking for help. It asked Trump
• 40:14
  Speaker 1: and Trump said no. It asked the Pakistanis and the Turks,
• 40:18
  Speaker 1: and they said yes, but didn't provide any because they
• 40:21
  Speaker 1: have a joint defense agreement. So they had to say yes,
• 40:25
  Speaker 1: but then I guess they don't have to do anything.
• 40:28
  Speaker 1: So the Brits are coming to the rescue. Britain. I mean, Britain.
• 40:34
  Speaker 1: How weird is that? It really is. It's just weird. Surprising.
• 40:40
  Speaker 1: Britain is sending RAF typhoons, patrols. to defend Saudi cities
• 40:46
  Speaker 1: and infrastructure from Houthi drones and missiles. Plus an A400M. Ooh,
• 40:52
  Speaker 1: I didn't look up what A400M is. And they're also
• 40:56
  Speaker 1: sending advisors. Typhoons, you know, won't strike Houthi targets in Yemen.
• 41:03
  Speaker 1: So they won't be used offensively. They will be used to,
• 41:09
  Speaker 1: you know, I guess they will refuel, They will help
• 41:14
  Speaker 1: refuel Saudi jets, which will do the striking. Maybe that's
• 41:18
  Speaker 1: the A400M. We don't know exactly how many jets are going,
• 41:26
  Speaker 1: at what cost, or for how long, or whether there's
• 41:30
  Speaker 1: going to be a parliament vote in the UK for this.
• 41:33
  Speaker 1: The Saudis asked. The US declined. So, you know, they
• 41:38
  Speaker 1: went to the Brits. Obama Obama in– no, this is
• 41:46
  Speaker 1: not Obama. This is Ron Barak, I guess. This is
• 41:50
  Speaker 1: the guy who is the U.S. emissary, one of the
• 41:58
  Speaker 1: emissaries for the Middle East. He says, So, guarantee is gone.
• 42:01
  Speaker 1: The U.S. is leaving the Gulf. and in the hands
• 42:13
  Speaker 1: of whomever. We talked about the fact that there's a
• 42:20
  Speaker 1: third carrier group on the way to the Gulf. It's
• 42:25
  Speaker 1: going to be interesting to see if all three will stay,
• 42:29
  Speaker 1: or as they arrive, one group will leave. Together with them,
• 42:34
  Speaker 1: they've also got a Marines amphibious unit with about 10,000
• 42:38
  Speaker 1: sailors and Marines total. And they will be there by
• 42:43
  Speaker 1: the end of next month, by the end of November. So,
• 42:45
  Speaker 1: you know, these ships, it takes them a long time
• 42:48
  Speaker 1: to move. Trump continues to say that after November 3rd,
• 42:56
  Speaker 1: action against Iran is possible, as he continues to negotiate
• 43:00
  Speaker 1: with Iran in the background. The Iranians are now offering
• 43:04
  Speaker 1: to open the Strait of Hormuz in seven days. if
• 43:10
  Speaker 1: it remains under Iranian control, and in exchange for lifting
• 43:15
  Speaker 1: the blockade, easing all restrictions, releasing frozen assets, and ending
• 43:20
  Speaker 1: hostilities on all fronts. In other words, the Iranians are
• 43:24
  Speaker 1: still demanding U.S. surrender. The IGC says that two tankers
• 43:30
  Speaker 1: hit Iranian mines, and they did down the U.S. drone.
• 43:35
  Speaker 1: There was no confirmation for either one of those. Three
• 43:38
  Speaker 1: senior Iranian officials said say Tehran is stalling talks, stalling
• 43:43
  Speaker 1: talks in order to hurt Trump before the midterms. And
• 43:47
  Speaker 1: then in the meantime, they're preparing for renewed strikes. They
• 43:51
  Speaker 1: don't expect a deal. Inflation inside Iran is at 73.6%
• 43:57
  Speaker 1: in September. The real, the currency is down 35% since
• 44:01
  Speaker 1: the blockade resumed in July. Um, and, um, Yeah, I mean,
• 44:08
  Speaker 1: and oil is going like this, zigzagging as rumors about
• 44:12
  Speaker 1: a deal, no deal, deal, no deal, strike, no strike,
• 44:15
  Speaker 1: you know, just. Hegseth, in the meantime, flew to Israel
• 44:21
  Speaker 1: to meet Netanyahu and Katz. Katz is the defense secretary.
• 44:25
  Speaker 1: I guess this is part of Trump's endorsement of Netanyahu
• 44:29
  Speaker 1: in the election. Trump endorsed Netanyahu in the election. It's
• 44:33
  Speaker 1: a week before that election. I guess I need to
• 44:35
  Speaker 1: do my show on the Israeli election. I'll do it
• 44:37
  Speaker 1: from the road. I'll do it from one of the,
• 44:40
  Speaker 1: you know, either from Brazil or from Santiago or from
• 44:44
  Speaker 1: Buenos Aires next, you know, this coming week. We'll see
• 44:50
  Speaker 1: when we have shows, God. Next, I think, opportunity to
• 44:53
  Speaker 1: have a show is Sunday from Porto Alegre, Brazil, but
• 44:59
  Speaker 1: it might be early in the morning for you guys,
• 45:01
  Speaker 1: so we'll see. Yeah, Trump gave a complete and total endorsement. Vance,
• 45:07
  Speaker 1: on the other hand, J.D. Vance was asked whether he
• 45:09
  Speaker 1: was going to endorse Netanyahu. And he laughed, of course.
• 45:14
  Speaker 1: And he says that he's not getting involved in Israeli elections.
• 45:17
  Speaker 1: It said some people in Israel's system are manipulating American
• 45:21
  Speaker 1: opinion to prolong the Iran war. He didn't name who. Anyway,
• 45:33
  Speaker 1: that's kind of a quick roundup of... of what is
• 45:37
  Speaker 1: going on in the Middle East. Nothing basically new, but
• 45:42
  Speaker 1: American weakness, Saudi weakness, Israel waiting until after the election
• 45:49
  Speaker 1: to see what the next steps are, both the Israeli
• 45:51
  Speaker 1: election and American elections, and everything on hold, basically, everything
• 45:57
  Speaker 1: in the Middle East on hold. The Iranians struggling, struggling,
• 46:01
  Speaker 1: but not ready to capitulate yet, still demanding action. from
• 46:06
  Speaker 1: the Trump administration, basically the Trump surrenders. All right. In
• 46:12
  Speaker 1: the meantime, in the United States, um, the USDA, the
• 46:19
  Speaker 1: harvest fuel relief program under the commodity credit corporation. Did
• 46:24
  Speaker 1: you know that there was a commodity credit corporation and
• 46:27
  Speaker 1: a harvest relief program? I mean, there's so many bureaucratic
• 46:31
  Speaker 1: programs in the American government. Uh, they, um, They announced
• 46:38
  Speaker 1: that they modeled 2026 losses by acreage, costs, yield, and
• 46:43
  Speaker 1: prices based on diesel prices. And they've announced $ 8 billion
• 46:56
  Speaker 1: for farmers to compensate them for the losses as a
• 47:00
  Speaker 1: consequence of diesel. So, yeah. Now, you know, the so
• 47:20
  Speaker 1: this is this is Trump constantly subsidizing the farmers for
• 47:27
  Speaker 1: all the bad decisions he's made that are costing farmers tariffs,
• 47:33
  Speaker 1: unfinished war. All right. Also, Constitution Pipeline. The Department of
• 47:47
  Speaker 1: Energy has committed up to $ 42 million under the Defense
• 47:51
  Speaker 1: Production Act for permitting and pre-construction on the Pennsylvania to
• 47:55
  Speaker 1: New York line that New York's Clean Water Act denial
• 48:00
  Speaker 1: killed in 2020. So they're looking at the pipeline, I guess,
• 48:09
  Speaker 1: starting construction or being open by 2028 In the meantime,
• 48:19
  Speaker 1: the Gillette Global Group has filed a claim in the
• 48:25
  Speaker 1: Court of International Trade. This is the U.S. Court, not
• 48:30
  Speaker 1: an international trade, but a U.S. Court. Against the 50%
• 48:34
  Speaker 1: tariffs under Section 338 of the 1930 Smoot-Hawley Act, arguing
• 48:41
  Speaker 1: the status doesn't authorize them and a waiting period is
• 48:45
  Speaker 1: were skipped. This is supposed to be a waiting period
• 48:47
  Speaker 1: before the tariffs go into effect. I expect the Court
• 48:52
  Speaker 1: of International Trade to agree with them, and then it'll
• 48:55
  Speaker 1: be up to the Supreme Court to then decide whether
• 48:58
  Speaker 1: these tariffs are illegal as well. In their case, this
• 49:06
  Speaker 1: particular company, their supply chain is this. New York Milk...
• 49:13
  Speaker 1: becomes Canadian cheese and comes back to New York. where
• 49:20
  Speaker 1: it's sold so you have to pay tariffs in every
• 49:24
  Speaker 1: direction right so this administration's got economic problems all self-made
• 49:37
  Speaker 1: a war it won't finish raises energy costs, diesel costs.
• 49:43
  Speaker 1: A tariff makes farm inputs dearer. Immigration rates, keep workers
• 49:51
  Speaker 1: at home and reduces the number of workers. So we
• 49:55
  Speaker 1: give $ 8 billion to taxpayer money to the farmers that
• 49:59
  Speaker 1: are being squeezed by the tariffs and the war that
• 50:02
  Speaker 1: you created. Uh, We revive a pipeline with defense money.
• 50:14
  Speaker 1: And we give Russia, you know, relieve their sanctions on diesel.
• 50:21
  Speaker 1: Just statism on top of statism on top of statism
• 50:24
  Speaker 1: on top of statism. Now, let's hope that the new
• 50:29
  Speaker 1: permitting law passes that reduces permitting. That would be at
• 50:33
  Speaker 1: least that would be decent, but you know, using the
• 50:36
  Speaker 1: defense production act, God, defense production act is supposed to
• 50:40
  Speaker 1: be again, national security again, being abused. And I hope
• 50:47
  Speaker 1: that the lawsuit against the tariffs succeeds. All right, let's see. Um,
• 50:57
  Speaker 1: some quick, some quick highlights back to Canada. Um, It
• 51:02
  Speaker 1: was a vote about whether Alberta should stay as part
• 51:05
  Speaker 1: of Canada or seek independence. It was just a vote
• 51:14
  Speaker 1: about whether to start a legal process towards a binding
• 51:18
  Speaker 1: separation referendum. So this was a non-binding question. 75% of
• 51:23
  Speaker 1: people voted against. I guess that means 75% of Alberta
• 51:29
  Speaker 1: residents want to stay part of Canada. So, you know,
• 51:35
  Speaker 1: the separatists argue against the Canadian state, against what they
• 51:43
  Speaker 1: did during the pandemic, coercion, taxes, regulations, ideological conformity. And generally,
• 51:51
  Speaker 1: you know, I think conservatives in Canada are feeling more
• 51:55
  Speaker 1: and more and more alienated from everything happening in Canada.
• 51:58
  Speaker 1: And amazingly, the Liberals, in spite of their pathetic performance,
• 52:04
  Speaker 1: over the last 10, 15 years, still seem to be
• 52:09
  Speaker 1: the dominant party in Canada. So secession was rejected. But
• 52:18
  Speaker 1: I still think Ottawa rejects kind of, sorry, Alberta rejects Ottawa,
• 52:27
  Speaker 1: rejects the regulations, rejects the controls, rejects the taxes, rejects
• 52:32
  Speaker 1: the statism. It just doesn't want us to see it.
• 52:36
  Speaker 1: They don't see that as the solution. In Milan, over
• 52:43
  Speaker 1: the weekend, we had 271 detentions, 32 arrests, 23 minors
• 52:48
  Speaker 1: were detained. And you got a bunch of stores ransacked.
• 52:56
  Speaker 1: Meloni weighing longer preventive detentions for minors. and she wants
• 53:02
  Speaker 1: to gather lists of people who are deemed a threat.
• 53:12
  Speaker 1: And we'll see what else. She, in other words, wants
• 53:16
  Speaker 1: to get tough on crime. Law and order. She's supposed
• 53:20
  Speaker 1: to be already law and order. Looting is theft prosecuted.
• 53:29
  Speaker 1: And Prosecute anybody who riots, burns stuff, loots, breaks windows. So, yeah,
• 53:38
  Speaker 1: I mean, she's selling the same thing Le Pen is. Order.
• 53:45
  Speaker 1: We'll see how that order is implemented. The Supreme Court
• 53:52
  Speaker 1: is about to hear an interesting case. I don't know
• 53:55
  Speaker 1: where you guys stand on this case. It's the Department
• 53:57
  Speaker 1: of Justice versus McNutt. Can Washington ban distilling liquor at
• 54:08
  Speaker 1: home under the taxing power? So Congress has banned the
• 54:16
  Speaker 1: ability to distill alcohol at home. And under the taxing
• 54:22
  Speaker 1: power of all things. What the hell? The First Circuit
• 54:27
  Speaker 1: has already said no, it cannot. No. The 1868 ban
• 54:32
  Speaker 1: on distilling liquor at home raises no revenue. It, quote,
• 54:38
  Speaker 1: prevents distilled spurs from coming into existence. Now notice, this
• 54:47
  Speaker 1: is an 1868 law that is being litigated now. This
• 54:52
  Speaker 1: is great if the Supreme Court overturns this law. It's unconstitutional.
• 54:58
  Speaker 1: The Trump Department of Justice, always, always fighting for the
• 55:02
  Speaker 1: little guy and fighting for, you know, free markets and
• 55:07
  Speaker 1: freedom and liberty generally. They've asked the court to defer
• 55:11
  Speaker 1: to Congress. And they are defending 150-year-old law prohibit prohibition
• 55:23
  Speaker 1: based on a taxing act where there's no tax behind it.
• 55:28
  Speaker 1: The necessary and proper clause is what the plaintiffs are
• 55:34
  Speaker 1: hoping the courts will pay attention to, which is supposed
• 55:39
  Speaker 1: to limit the federal government from being able to just
• 55:43
  Speaker 1: do anything or whatever the hell it wants. So we'll see.
• 55:47
  Speaker 1: The Trump administration is on the wrong side, as usual.
• 55:50
  Speaker 1: As usual. Wouldn't be surprising. Not surprising. If you realize
• 55:54
  Speaker 1: they're not really for liberty or free markets or the individual.
• 56:01
  Speaker 1: All right, let's see. China. You remember when Trump approved
• 56:07
  Speaker 1: the NVIDIA chips that were just one level below the
• 56:11
  Speaker 1: most advanced chip for export to China? Because he's the
• 56:16
  Speaker 1: tough on China president. Remember that? He's the really tough
• 56:19
  Speaker 1: on China president. That's why you voted for him, right? Anyway,
• 56:25
  Speaker 1: he approved it. And now ByteDance, Alibaba, and Tencent I
• 56:30
  Speaker 1: voted 3 million plus export-compliant RTC Pro 5500 cards. And, yeah,
• 56:44
  Speaker 1: you know, this is what NVIDIA is going to be doing.
• 56:46
  Speaker 1: Each one of those is $ 11, 400 each. Multiply that by
• 56:51
  Speaker 1: 3 million, and you get a very, very, very large
• 56:55
  Speaker 1: number well into the billions. No wonder NVIDIA was lobbying
• 57:05
  Speaker 1: Trump to let it sell this to the Chinese. By
• 57:12
  Speaker 1: the way, the most NVIDIA can make of these at
• 57:15
  Speaker 1: any given point in time is like $ 3 million a year.
• 57:17
  Speaker 1: So it's going to be tough for them to fulfill
• 57:19
  Speaker 1: this order anytime soon. But yeah, whatever you think of China,
• 57:26
  Speaker 1: it now has faster chips. It will have Pfizer chips
• 57:33
  Speaker 1: to fuel its AI companies. A researcher reports a Chinese-speaking
• 57:42
  Speaker 1: hacker ran autonomous agents, Kern, DeepSeek, CloudCode, at 1,200-plus sites,
• 57:52
  Speaker 1: breaching 100-plus companies, including John Deere, Shark Ninja, and Cummings,
• 57:59
  Speaker 1: for about he did all this for $ 5, 000. John Deere
• 58:05
  Speaker 1: says no sensitive information was accessed. So, there's a crime,
• 58:10
  Speaker 1: it's by a criminal, you use the tool, AI, are
• 58:16
  Speaker 1: we going to hear a restriction to, a call to
• 58:20
  Speaker 1: restrict the tool, to ban the tool, to regulate the tool?
• 58:26
  Speaker 1: Companies like John Deere should buy AI to defend themselves, to,
• 58:31
  Speaker 1: Lock the holes to discover their weaknesses. All right. A
• 58:42
  Speaker 1: few achievement stories. Japan launched the MMX. The MMX is
• 58:48
  Speaker 1: a private company, JAXA, H3 is the name. They launched
• 58:52
  Speaker 1: it on October 20th. Separation and orbit injection succeeded 71
• 59:00
  Speaker 1: minutes after launch. Destination is Mars. Mars is moons. It's
• 59:05
  Speaker 1: not even Mars. and it's supposed to collect samples in
• 59:13
  Speaker 1: Phobos and be back in Earth in 2031 and this
• 59:21
  Speaker 1: is to try to determine how the moons around Mars
• 59:23
  Speaker 1: were formed this is pretty cool cool cool stuff And
• 59:30
  Speaker 1: this is Japanese. They got a rocket spacecraft and they're
• 59:34
  Speaker 1: going to bring back a piece of another planet's moons.
• 59:39
  Speaker 1: This is engineering patients ambition. This is cool. This one
• 59:46
  Speaker 1: is kind of spooky. So according to master general in Bingham, uh,
• 59:51
  Speaker 1: published in the Lancet digital health, um, a, uh, AI,
• 59:57
  Speaker 1: a computer AI, uh, built on 40 million face photos
• 1:00:03
  Speaker 1: and trained on 34,363 cancer patients, validated on independent Dutch cohort.
• 1:00:13
  Speaker 1: This new AI can basically look at your face and
• 1:00:22
  Speaker 1: tell you how likely it is that you will die.
• 1:00:30
  Speaker 1: the top decile, the people that the machine, that the
• 1:00:35
  Speaker 1: computer identifies as most likely to die, about 50% of
• 1:00:42
  Speaker 1: them are dead within 90 days. If the AI puts
• 1:00:48
  Speaker 1: you in the bottom 2% of likelihood of dying, or sorry,
• 1:00:55
  Speaker 1: a the bottom decile, right, the bottom decile, the bottom
• 1:00:59
  Speaker 1: 20% likelihood of dying, only 2% of those people die
• 1:01:02
  Speaker 1: within 90 days. So it's not clear what value this
• 1:01:10
  Speaker 1: has in terms of, I guess, treatment or what it
• 1:01:14
  Speaker 1: doesn't tell you what to do. But it's another validation
• 1:01:20
  Speaker 1: of AI as a diagnostic tool. And it's cheap. And
• 1:01:27
  Speaker 1: maybe this tells you who to focus on and who's
• 1:01:30
  Speaker 1: an emergency and who's not. And, yeah, all off her face.
• 1:01:40
  Speaker 1: Pretty cool. Pretty cool. Arbol Insurance Company has launched a policy,
• 1:01:53
  Speaker 1: a type of insurance policy, that pays data center developers
• 1:01:58
  Speaker 1: if a government construction ban outlasts a waiting period. There
• 1:02:03
  Speaker 1: are 106 projects right now worth about $ 198 billion blocked
• 1:02:09
  Speaker 1: or delayed by these different government construction bans by local opposition.
• 1:02:20
  Speaker 1: And so they're selling insurance. That is cool, right? And
• 1:02:26
  Speaker 1: they'll probably price this insurance based on the particular project
• 1:02:29
  Speaker 1: and the particular ban. Here's an entrepreneur putting a price
• 1:02:32
  Speaker 1: on political risk to a property. This is, you know,
• 1:02:39
  Speaker 1: and this is very much going to depend, I think,
• 1:02:41
  Speaker 1: on the midterm elections, right? Because we've got politicians on
• 1:02:45
  Speaker 1: both sides of the aisle who want to ban AI
• 1:02:48
  Speaker 1: data centers, freeze AI data centers, and everything else. All right.
• 1:02:57
  Speaker 1: That one we talked about yesterday. Yeah. Big story in
• 1:03:01
  Speaker 1: The Economist today. Big story in The Economist. Well, not today.
• 1:03:05
  Speaker 1: Two weeks ago. October 11th. Sorry. It was the print
• 1:03:10
  Speaker 1: edition of October 17th. Escaping the middle class, the middle
• 1:03:14
  Speaker 1: age trap, it's called. So The Economist has assembled data
• 1:03:19
  Speaker 1: across 32 rich countries. Right. And they want to compare
• 1:03:26
  Speaker 1: how different generations are doing. Here's the headline. Headline is,
• 1:03:32
  Speaker 1: in 29 of 32 rich countries, millennials, millennials, now early
• 1:03:37
  Speaker 1: 30s to mid 40s, right? Some of the millennials, people
• 1:03:41
  Speaker 1: complaining about housing prices, have higher inflation-adjusted incomes than previous
• 1:03:47
  Speaker 1: generations at the same age. There are only three exceptions. Italy,
• 1:03:55
  Speaker 1: at 30, you're 10% below Gen X at 30. Greece,
• 1:04:00
  Speaker 1: still behind the pre-2009 cohort. Greece has not recovered from
• 1:04:05
  Speaker 1: the financial crisis. Japan, at 35-year-old's household income in 2019,
• 1:04:12
  Speaker 1: is below that of 1994. That makes sense. 1994 was
• 1:04:16
  Speaker 1: kind of their peak of the bubble. But in Australia,
• 1:04:21
  Speaker 1: Britain and France, the gains over Gen X is small,
• 1:04:25
  Speaker 1: but there. But in the United States, where we hear
• 1:04:28
  Speaker 1: a lot of bitching and complaining, and in Poland, the
• 1:04:32
  Speaker 1: pace of improvement is sped up and the margins are
• 1:04:35
  Speaker 1: pretty big. So if you really, a lot of this,
• 1:04:41
  Speaker 1: you know, the differences between countries, you can take back
• 1:04:43
  Speaker 1: to the financial crisis of 2007-9. The countries that were
• 1:04:47
  Speaker 1: hit particularly bad, hard by those, you know, the generation
• 1:04:53
  Speaker 1: that grew up during that period is lagging. Countries that
• 1:04:56
  Speaker 1: did okay coming out of that, they did fine. You know,
• 1:05:06
  Speaker 1: and the other question, you know, is, yeah, so that's
• 1:05:09
  Speaker 1: a big part of it. An American millennium is as
• 1:05:14
  Speaker 1: likely to be a manager as a Gen Xer was
• 1:05:18
  Speaker 1: at the same age. So Promotion, about the same. Nearly
• 1:05:22
  Speaker 1: a tenth of U.S. billionaires, more than double Gen X's
• 1:05:27
  Speaker 1: 2011 share, are millennials. They're the people running Anthropic Open
• 1:05:34
  Speaker 1: AI and Meta. They also run quite a few governments.
• 1:05:39
  Speaker 1: 14% of Congress are millennials. And The Economist is giving
• 1:05:49
  Speaker 1: even odds the next president is going to be a millennial. AOC, Ossoff,
• 1:05:55
  Speaker 1: who is rising fast among the Democrats as a potential candidate,
• 1:06:00
  Speaker 1: and Vance, all 31 between the age of 31 to 45. Housing,
• 1:06:05
  Speaker 1: which is the big grievance, right? Big grievance, housing. At 30,
• 1:06:11
  Speaker 1: about 40% of millennials own homes. That's well below 30%.
• 1:06:18
  Speaker 1: you know, Gen X, right? But, and this is a
• 1:06:22
  Speaker 1: big but, by their 40s, the ownership matches Gen X. Exactly.
• 1:06:30
  Speaker 1: So what's really happening is the millennials are delaying buying
• 1:06:34
  Speaker 1: a home. And you would ask, why would they delay
• 1:06:37
  Speaker 1: buying a home? Well, one big reason why they delay
• 1:06:40
  Speaker 1: buying a home is because they're delaying marriage. If you
• 1:06:45
  Speaker 1: delay marriage... You're also going to delay buying a home.
• 1:06:48
  Speaker 1: Marriage is an impetus for home buying. Starting a family
• 1:06:51
  Speaker 1: is an impetus for buying a home. British millennials were
• 1:06:56
  Speaker 1: 20 points behind at 30, but they've halved the gap.
• 1:07:00
  Speaker 1: They're only 10 points behind by the time they reach 40.
• 1:07:06
  Speaker 1: Here's the point. The richest young Americans, people making over $ 200, 000
• 1:07:10
  Speaker 1: a year, own homes at far lower rates than equally
• 1:07:16
  Speaker 1: rich predecessors, which suggests that it's a choice. It's the
• 1:07:22
  Speaker 1: marriage thing. Not a constraint. They got money. Wealth, that's income.
• 1:07:35
  Speaker 1: Wealth is now building faster than prior generations at the
• 1:07:39
  Speaker 1: same age. Inheritances run at 10% of GDP a year
• 1:07:45
  Speaker 1: across the rich world. Median English inheritance for those born
• 1:07:51
  Speaker 1: in the 80s is at 136,000 pounds versus only 66,000
• 1:07:53
  Speaker 1: pounds for the 1960s cohort. Now, Nobody knows how AI
• 1:08:08
  Speaker 1: is going to disrupt labor, and the millennials are approaching
• 1:08:14
  Speaker 1: their peak earning years, and they better protect themselves from
• 1:08:17
  Speaker 1: AI by figuring out how to add value. So the
• 1:08:25
  Speaker 1: generation that's being told, and still is being told, and
• 1:08:28
  Speaker 1: is constantly being told, that capitalism somehow robbed them, these
• 1:08:33
  Speaker 1: are people who marched for Corbyn, British leftist, Melchon, the
• 1:08:38
  Speaker 1: French leftist, and Bernie Sanders, on that premise that they
• 1:08:43
  Speaker 1: were being robbed, is now richer than its parents in
• 1:08:49
  Speaker 1: 29 of 32 countries. They now run AI companies. They
• 1:08:54
  Speaker 1: own homes at the same rate by the age of 40.
• 1:08:58
  Speaker 1: Maybe their grievance was real in 2020. coming out of
• 1:09:00
  Speaker 1: the financial crisis. There was a recession. There was unemployment.
• 1:09:05
  Speaker 1: But it's gone. And the people still left on the
• 1:09:08
  Speaker 1: list who do have grievances, Italy, Greece, Japan, these are
• 1:09:14
  Speaker 1: some of the most regulated, most indebted, slowest growing economies
• 1:09:18
  Speaker 1: in the world. The countries where millennials are poorer than
• 1:09:23
  Speaker 1: their parents are the countries that did the most to, quote,
• 1:09:26
  Speaker 1: protect them. Well, or to protect their parents and grandparents. France, Britain,
• 1:09:32
  Speaker 1: and Australia, where the gain is smallest, are next on
• 1:09:35
  Speaker 1: that spectrum of statism. America and Switzerland, for example, the
• 1:09:42
  Speaker 1: countries that are relatively free in comparison to others, those
• 1:09:47
  Speaker 1: places the millennials have done phenomenally well. And even when
• 1:09:50
  Speaker 1: it comes to housing, It's not as bad as you
• 1:09:54
  Speaker 1: all would make it sound like. Friend Harper says, I'm
• 1:10:03
  Speaker 1: a millennial who rents for my bestie, who is also
• 1:10:06
  Speaker 1: a millennial who owns. Oh, wow. All right. That, my friends,
• 1:10:17
  Speaker 1: is the news for this Tuesday, October 20th. Thank you
• 1:10:21
  Speaker 1: for being here. I'm not doing well. Just to give
• 1:10:24
  Speaker 1: you an update, I'm not doing well on Twitch. Not
• 1:10:27
  Speaker 1: at all. I'm not getting out of the single digits
• 1:10:31
  Speaker 1: in terms of viewership live. That is why it's live.
• 1:10:35
  Speaker 1: And not a lot of people view, I think, on
• 1:10:37
  Speaker 1: Twitch after the fact. So all the action is live.
• 1:10:41
  Speaker 1: And still on 54 followers. Followers is not gaining. So
• 1:10:46
  Speaker 1: not going viral on Twitch. You know, you guys need
• 1:10:49
  Speaker 1: to tell me what I need to do. to go
• 1:10:51
  Speaker 1: viral on Twitch, to increase viewership on Twitch. I need
• 1:10:54
  Speaker 1: to become a leftist, maybe. That's not going to happen.
• 1:10:57
  Speaker 1: So given my ideas, my style, the way I do things,
• 1:11:01
  Speaker 1: what would it take? What would it take? Do I
• 1:11:03
  Speaker 1: need to start swearing? Maybe that'll do it. Maybe that'll
• 1:11:09
  Speaker 1: do it. Anyway, I will keep you updated on what
• 1:11:13
  Speaker 1: is going on. We will be doing a show soon
• 1:11:16
  Speaker 1: on the Israeli election, given that that's happening tomorrow. in
• 1:11:19
  Speaker 1: a week or so. Exactly a week, I think. And
• 1:11:24
  Speaker 1: we will be doing shows on the midterms because that's
• 1:11:27
  Speaker 1: going to happen when I'm in Rio de Janeiro. I
• 1:11:30
  Speaker 1: need a video game? No. See, that's not happening. I
• 1:11:34
  Speaker 1: can't change that, right? Unless we can find a way
• 1:11:40
  Speaker 1: to simulate a video game in the background as if
• 1:11:43
  Speaker 1: I'm playing without actually playing. Plus, you know what happens
• 1:11:46
  Speaker 1: with age? One of the things that happens with age
• 1:11:47
  Speaker 1: is And I am, as many of you like to
• 1:11:51
  Speaker 1: remind me, I am a boomer. Multitasking becomes more difficult.
• 1:11:57
  Speaker 1: So the idea of delivering all this and playing a
• 1:11:59
  Speaker 1: video game, no. No, no, no. Ain't happening, guys. It
• 1:12:04
  Speaker 1: just ain't happening. All right. Let's see. Yeah, I mean,
• 1:12:16
  Speaker 1: I don't know what's going on with you guys other
• 1:12:17
  Speaker 1: than Michael, who came in with two $ 50 questions. Oh,
• 1:12:23
  Speaker 1: all right. Maybe I spoke too soon, but XNielos just
• 1:12:26
  Speaker 1: did a 25 euro question. That's good. But yeah, we
• 1:12:31
  Speaker 1: need to beef up the questions. We need to get
• 1:12:32
  Speaker 1: at least to the first hour goal, if not the
• 1:12:35
  Speaker 1: second hour goal, and we're still way up both of them.
• 1:12:39
  Speaker 1: The XNielo 25 euro will help. But it won't, it won't,
• 1:12:44
  Speaker 1: it won't close the gap completely. I'm not playing Minecraft.
• 1:12:48
  Speaker 1: Never played Minecraft. I'm not a gamer. Never played gaming.
• 1:12:51
  Speaker 1: Never done that. Any of it. So, don't know. All right.
• 1:12:57
  Speaker 1: Let's start with Michael's $ 50. Oh, I need to remind
• 1:13:00
  Speaker 1: you to download the ARI, Ayn Rand Institute app, where
• 1:13:05
  Speaker 1: you can get all of Leonard Pickoff's courses for free. God,
• 1:13:08
  Speaker 1: what I would have given. when I was young, to
• 1:13:10
  Speaker 1: get Leonard Peikoff's courses for free when I was studying objectivism.
• 1:13:13
  Speaker 1: There's no, you know, they're extraordinary. They're the best. You know,
• 1:13:20
  Speaker 1: everybody who takes objectivism seriously should listen to Leonard Peikoff's courses. And,
• 1:13:26
  Speaker 1: of course, Ayn Rand's lectures are there, many of her essays.
• 1:13:29
  Speaker 1: And there is a new course that Don Watkins and
• 1:13:33
  Speaker 1: I did on capitalism, 12 hours. It's up on, it's
• 1:13:37
  Speaker 1: on the app. It's on the app. What else can
• 1:13:40
  Speaker 1: I tell you? Yeah, so check it out. Go to
• 1:13:44
  Speaker 1: the App Store for Google or for Apple and download it.
• 1:13:50
  Speaker 1: Alex Epstein is, I just saw John Stossel has a
• 1:13:54
  Speaker 1: long interview with him. I encourage you to go watch
• 1:13:57
  Speaker 1: it on John Stossel. Alex is excellent, an excellent communicator
• 1:14:02
  Speaker 1: about issues relating to environmentalism, fossil fuels. He's a defender
• 1:14:07
  Speaker 1: of coal. He defends coal to Starcell. And, of course,
• 1:14:11
  Speaker 1: a defender these days of AI and data centers. So
• 1:14:15
  Speaker 1: good for Alex. He's fighting the fight, and you guys
• 1:14:19
  Speaker 1: should support him. And it's easy. Just sign up for
• 1:14:21
  Speaker 1: his Substack. It doesn't cost you anything. alexepstein.substack.com. You can
• 1:14:27
  Speaker 1: even get an Alex AI. Okay. Time chat. First time
• 1:14:36
  Speaker 1: chat says you're on, you have to do the Twitch
• 1:14:38
  Speaker 1: onboarding process to enable subscriptions. You're not, we're not able
• 1:14:42
  Speaker 1: to subscribe until you do. How do I do that?
• 1:14:45
  Speaker 1: Somebody sent me an email telling me how I, I
• 1:14:49
  Speaker 1: go through the Twitch onboarding process because, um, I thought
• 1:14:54
  Speaker 1: I did that. You know, they told me to decide
• 1:14:58
  Speaker 1: what kind of a part, what kind of a show
• 1:14:59
  Speaker 1: I was doing. And I filled in just chatting, but, um, Iran,
• 1:15:06
  Speaker 1: this show should interact more with Hassan's stream. It's at
• 1:15:11
  Speaker 1: least worth trying. Maybe some might actually be interested to
• 1:15:14
  Speaker 1: hear your arguments for capitalism. So how would I do that, right?
• 1:15:18
  Speaker 1: You mean live? I would have Hassan Paika streaming live
• 1:15:24
  Speaker 1: in a corner and I would comment on him? Because
• 1:15:26
  Speaker 1: I just did the big Hassan Paika show and I
• 1:15:31
  Speaker 1: just did a big Hassan Paika show. So If I'd
• 1:15:38
  Speaker 1: known I could stream this on Twitch, I would have
• 1:15:40
  Speaker 1: streamed it on Twitch. Maybe just raid him or something.
• 1:15:45
  Speaker 1: You see, these are the terminology that they have on
• 1:15:47
  Speaker 1: Twitch that doesn't exist on YouTube. I don't know what
• 1:15:49
  Speaker 1: raiding him means. We need some viral reactions. All right.
• 1:15:54
  Speaker 1: All right. We'll figure this out. I'm traveling. As I
• 1:15:57
  Speaker 1: told you, I'm traveling everywhere. over the next month, they're
• 1:16:01
  Speaker 1: not going to be that many shows. You know, we're
• 1:16:04
  Speaker 1: not going to be able to do that reading Hassan
• 1:16:06
  Speaker 1: Paika and, uh, and, and doing that. I'll try to
• 1:16:10
  Speaker 1: do what I can while I'm on the road, but, um,
• 1:16:14
  Speaker 1: we will, we will see. Um, right. Uh, reading Hassan
• 1:16:23
  Speaker 1: is not the answer. Another guy says, That means forcing
• 1:16:27
  Speaker 1: us all to watch him after your stream ends. Please, God, no.
• 1:16:32
  Speaker 1: Interaction is all that matters. Okay, so I need more interaction.
• 1:16:36
  Speaker 1: All right. Not with games, but with people. All right.
• 1:16:39
  Speaker 1: We will figure this out. Figure this out. I'm happy
• 1:16:42
  Speaker 1: to interact with you guys. Happy to chat and interact.
• 1:16:47
  Speaker 1: All right, let's see. So we did Alex... Uh, we did, uh,
• 1:16:51
  Speaker 1: I want to remind you, hendershotwealth.com slash YBS, a new video, uh,
• 1:16:56
  Speaker 1: with an interview with Robert is going to go up, uh,
• 1:16:59
  Speaker 1: I think on Friday. Uh, so hopefully you guys can
• 1:17:02
  Speaker 1: watch that. It's kind of an interesting discussion about, um, about, uh,
• 1:17:08
  Speaker 1: you know, uh, uh, sales on wall street versus, uh,
• 1:17:11
  Speaker 1: financial advisors, particularly, uh, Hendershot. So check that out. And, uh,
• 1:17:17
  Speaker 1: uh capitalism uh defenders of capitalism.com defenders of capitalism.com michael
• 1:17:22
  Speaker 1: williams's uh website i contributed contribute to the program uh
• 1:17:27
  Speaker 1: defending uh capitalism from a economic political and most importantly
• 1:17:33
  Speaker 1: philosophical moral perspective and uh there's no nothing like it
• 1:17:38
  Speaker 1: in the world right now uh it will be a
• 1:17:41
  Speaker 1: great supplement and and it for to the uh to
• 1:17:44
  Speaker 1: the uh capitalism ai when that is developed but uh
• 1:17:49
  Speaker 1: yeah check check check it out capitalism defenders of capitalism.com
• 1:17:52
  Speaker 1: sign up for the newsletter and if you're interested in
• 1:17:55
  Speaker 1: bringing a speaker to speak on capitalism uh then let
• 1:17:59
  Speaker 1: them know it could even be me right let them
• 1:18:02
  Speaker 1: know all right guys um stickers i think we're at
• 1:18:07
  Speaker 1: the time where we need stickers stickers yeah but You know,
• 1:18:12
  Speaker 1: we don't have a lot of stickers today. Stephen Harper,
• 1:18:15
  Speaker 1: thank you for the sticker. And Robert, basically that's it.
• 1:18:18
  Speaker 1: So we need some stickers. Value for value, just dollars
• 1:18:22
  Speaker 1: for the value you get from seeing the show. I
• 1:18:24
  Speaker 1: assume you do like the show. That's why you're listening.
• 1:18:29
  Speaker 1: So take that fact, that reality that you like the
• 1:18:32
  Speaker 1: show and show me. Show me the money. All right.
• 1:18:38
  Speaker 1: So trade. Trade with me. Michael, Michael trades with me regularly.
• 1:18:43
  Speaker 1: He's probably the biggest super chatter on the planet. Uh,
• 1:18:47
  Speaker 1: consistent and, uh, and, and. just just in terms of
• 1:18:51
  Speaker 1: dollar amounts he says i can understand feeling of jealousy
• 1:18:55
  Speaker 1: but where does this intense unrelenting pathological hatred of self-interest
• 1:19:00
  Speaker 1: and individualism come from it seems like a mental disorder
• 1:19:03
  Speaker 1: i don't know what that even means right And that's
• 1:19:06
  Speaker 1: the problem. What does a mental disorder mean? Some imbalance
• 1:19:09
  Speaker 1: of chemicals in the brain? A bad gene? I mean,
• 1:19:13
  Speaker 1: what does that mean? It just doesn't mean anything. So
• 1:19:17
  Speaker 1: the pathological hatred comes from ideas. It comes from believing
• 1:19:22
  Speaker 1: in altruism. It comes from being raised on altruism. It
• 1:19:24
  Speaker 1: comes from taking altruism seriously in one way or the other.
• 1:19:29
  Speaker 1: It comes from hatred of the world in which we live.
• 1:19:33
  Speaker 1: It comes from being raised on a constant diet of
• 1:19:36
  Speaker 1: your killing the planet. And capitalism is slavery and is enslavement. And,
• 1:19:44
  Speaker 1: you know, yeah, I mean. All you have to do
• 1:19:49
  Speaker 1: is listen to Greta and you know where it's coming from.
• 1:19:52
  Speaker 1: Because that's what your teachers are teaching you constantly. They're
• 1:19:55
  Speaker 1: not doing it with quite the passion and the zeal
• 1:19:58
  Speaker 1: of Greta. But that's what you get. A constant diet
• 1:20:01
  Speaker 1: of hatred on capitalism. A constant diet of hatred on success.
• 1:20:04
  Speaker 1: A constant diet of hatred of industrialization, of progress, of
• 1:20:09
  Speaker 1: a high standard of living. The penguins are dying. The
• 1:20:12
  Speaker 1: polar bears are dying. I mean, environmentalism is a big
• 1:20:15
  Speaker 1: part of it. And Add that with the Christian altruism
• 1:20:21
  Speaker 1: that has been secularized, but both Christians and altruists pounded
• 1:20:26
  Speaker 1: into your head. You should be living for others. You
• 1:20:28
  Speaker 1: should be ashamed of pursuing self-interest. And yeah, I mean,
• 1:20:33
  Speaker 1: why does it surprise you? What surprises me is that
• 1:20:37
  Speaker 1: anybody survives all that and that we can rebel against it.
• 1:20:44
  Speaker 1: Michael says, are intellectuals and humanity simply not interested in
• 1:20:47
  Speaker 1: learning economics or how capitalism works or really doesn't interest them,
• 1:20:52
  Speaker 1: only implementing altruism does? Well, I mean, you have to
• 1:20:54
  Speaker 1: ask yourself, do economists, are they interested in learning economics,
• 1:21:02
  Speaker 1: I mean, free market economics and capitalism works? No, they've
• 1:21:05
  Speaker 1: created all these systems of complexity to justify government intervention,
• 1:21:11
  Speaker 1: to justify the Fed, to justify why capitalism doesn't work
• 1:21:14
  Speaker 1: They've created these models and these algorithms and all this
• 1:21:17
  Speaker 1: stuff to argue that somehow central planning somehow is better
• 1:21:22
  Speaker 1: than capitalism in spite of the evidence. And these are
• 1:21:25
  Speaker 1: professors of economics. So it's not that they hold, I
• 1:21:31
  Speaker 1: need to fight for altruism, therefore I will evade all this. No,
• 1:21:34
  Speaker 1: they just evade. And it's a simple process. I mean,
• 1:21:39
  Speaker 1: you go and you Because I experienced it. I know
• 1:21:42
  Speaker 1: I got a PhD in finance and half the stuff
• 1:21:45
  Speaker 1: that they were teaching when I got a PhD in
• 1:21:47
  Speaker 1: finance was wrong. Wrong in a sense of it's all
• 1:21:49
  Speaker 1: inspired by central planning, mathematics, and statism. And I argued
• 1:21:57
  Speaker 1: against it. But most of the students are like, I'm
• 1:22:00
  Speaker 1: not going to piss off the professor and argue against it.
• 1:22:03
  Speaker 1: I'm just going to go ahead with this and I'll
• 1:22:04
  Speaker 1: get a PhD. And then you've got seven years where
• 1:22:08
  Speaker 1: you have to write and publish papers and to get tenure.
• 1:22:12
  Speaker 1: And what kind of papers get published? The kind of
• 1:22:14
  Speaker 1: papers that get published are the kind of papers that
• 1:22:16
  Speaker 1: are conventional economics. So everybody does conventional economics in order
• 1:22:20
  Speaker 1: to get published so they can get tenure. And then
• 1:22:22
  Speaker 1: by the time they get tenure, they've had four to
• 1:22:25
  Speaker 1: six years of a PhD program, seven years of tenure,
• 1:22:29
  Speaker 1: 13 years of being inculcated into a particular way of
• 1:22:32
  Speaker 1: doing economics, which is all mathematical and which is all statist.
• 1:22:40
  Speaker 1: And are they going to rebel then? Of course not.
• 1:22:42
  Speaker 1: Now they're just part of the system. And that's true
• 1:22:45
  Speaker 1: of all economic fields. It takes you 15 years to
• 1:22:49
  Speaker 1: get in, and by then you're brainwashed. Not brainwashed technically
• 1:22:54
  Speaker 1: in a sense of a real brainwash, but in a
• 1:22:57
  Speaker 1: sense of everybody around you has told you the same
• 1:23:00
  Speaker 1: story over and over and over again, and you've bought it.
• 1:23:02
  Speaker 1: You've accepted it. You've embraced it. And now... You're going
• 1:23:08
  Speaker 1: to continue to justify it. The effort to now rebel
• 1:23:13
  Speaker 1: against everything that you have done for 15 years is
• 1:23:15
  Speaker 1: just too great psychologically. So you continue and you continue
• 1:23:20
  Speaker 1: evading because you've been evading for 15 years. Why stop now?
• 1:23:27
  Speaker 1: So academia is not a bunch of people sitting there saying, oh,
• 1:23:31
  Speaker 1: we just want altruism. We don't care about reality. We
• 1:23:34
  Speaker 1: don't care about facts. That's not how it works. We
• 1:23:36
  Speaker 1: want to publish this piece. We want to get published.
• 1:23:39
  Speaker 1: To get published, I have to study this little thing.
• 1:23:41
  Speaker 1: That little thing, study with the methods and with the
• 1:23:44
  Speaker 1: philosophical orientation of what I learned as a PhD. So
• 1:23:47
  Speaker 1: that's what I'm going to do. And that constantly reinforces
• 1:23:53
  Speaker 1: the altruism, statism, and everything else. All right, Tyler. Tyler,
• 1:23:59
  Speaker 1: thank you. Tyler, 300 Swiss francs. Making up for my
• 1:24:04
  Speaker 1: lack of contribution in the past few months. Please keep
• 1:24:07
  Speaker 1: the shows coming. Thank you, Tyler. Really appreciate that. Tyler
• 1:24:11
  Speaker 1: is in Zurich. And, yeah, thank you. Thank you. There's
• 1:24:17
  Speaker 1: a book I'm reading from a professor in Zurich who
• 1:24:25
  Speaker 1: I really, really, really like. So I'll have to get
• 1:24:28
  Speaker 1: the name. Maybe next time I'm in Zurich I could
• 1:24:30
  Speaker 1: try to meet this professor. Hopefully I'll meet Tyler. All right,
• 1:24:35
  Speaker 1: a few more questions. I see you are doing a
• 1:24:39
  Speaker 1: show during the Celtics season opener. When is that? Right now?
• 1:24:44
  Speaker 1: Is this because you cannot handle witnessing the monumental smackdown
• 1:24:48
  Speaker 1: that the Detroit Pistons are about to lay on the Celtics?
• 1:24:54
  Speaker 1: Detroit basketball, goes Cook. Yeah, we saw how that went
• 1:24:58
  Speaker 1: last year for Detroit. Didn't go very well, unfortunately. But
• 1:25:05
  Speaker 1: I didn't realize it was a season opener. I'm more
• 1:25:07
  Speaker 1: still in shock by the fact that they traded Jalen Brown.
• 1:25:12
  Speaker 1: But I'll probably recover from the shock as the season
• 1:25:15
  Speaker 1: goes on if they win, if they start winning, and
• 1:25:19
  Speaker 1: it turns out to be ultimately a good move. We
• 1:25:22
  Speaker 1: will see. Steven says, I will be in New York
• 1:25:28
  Speaker 1: on Thursday night for the ARA Atlas Shrug Prize. Excellent.
• 1:25:33
  Speaker 1: I will also attend the Metropolitan Opera performance, Puccini's La Boheme,
• 1:25:36
  Speaker 1: on Saturday night. It is a Franco-Zaffarelli traditional production. That's wonderful.
• 1:25:43
  Speaker 1: So I won't be at the opera because Friday morning
• 1:25:47
  Speaker 1: early I leave for Porta Alegre in Brazil, where on
• 1:25:52
  Speaker 1: Sunday I'm doing a day-long seminar on capitalism. But I'll
• 1:25:57
  Speaker 1: just say that when I was in Florence, yes, When
• 1:26:02
  Speaker 1: I was in Florence, I went this a few weeks ago.
• 1:26:07
  Speaker 1: I went to the Franco Zeffirelli Museum, which is fantastic.
• 1:26:12
  Speaker 1: Lots of photographs of his sets, of his productions, lots
• 1:26:18
  Speaker 1: of photographs of the great actresses and the great opera
• 1:26:21
  Speaker 1: singers that performed with him some time. you know, some
• 1:26:25
  Speaker 1: tracks of Maria Callas singing and others. Yeah, it was,
• 1:26:29
  Speaker 1: it wasn't a great museum, core museum, pretty uncheap, but
• 1:26:33
  Speaker 1: it was pretty cool to see. I'm a big Franco
• 1:26:35
  Speaker 1: Zaffirelli fan. So it was great to see Franco Zaffirelli.
• 1:26:39
  Speaker 1: And when we were at the Met in June, my
• 1:26:43
  Speaker 1: wife and I, we saw Turandot, Puccini's Turandot. Also with
• 1:26:51
  Speaker 1: Funko Zaffirelli's traditional production, and it was gorgeous. Just beautiful.
• 1:26:55
  Speaker 1: Just beautiful. Let's see. Yeah, Mdresd is still pitching me
• 1:27:10
  Speaker 1: on debating Liquid Zulu. Ain't happening, guys. It ain't happening.
• 1:27:16
  Speaker 1: X Nilos, a comment on the withdrawal of South Korean
• 1:27:20
  Speaker 1: ambassador from Ukraine in relation to Ukraine's apparent lying and
• 1:27:25
  Speaker 1: not apologizing for Zelensky's reveal that two North Korean POWs
• 1:27:31
  Speaker 1: were sent to South Korea. Breaching an understanding, honor meeting
• 1:27:37
  Speaker 1: East European dishonesty. You know, I didn't really follow that story.
• 1:27:42
  Speaker 1: I vaguely remember reading about it. I didn't really follow it. But,
• 1:27:46
  Speaker 1: you know, to the extent that that is how it happened,
• 1:27:49
  Speaker 1: that then at the very least, you should expect Zelensky
• 1:27:53
  Speaker 1: to apologize. And so I don't know why he would not.
• 1:27:59
  Speaker 1: What's the downside of that? Why the reveal happened? You know,
• 1:28:06
  Speaker 1: so it sounds like the Ukrainians captured the two North
• 1:28:12
  Speaker 1: Korean POWs who were fighting on the Russian side. and, um,
• 1:28:18
  Speaker 1: and basically, and, and, and, you know, and basically allowed
• 1:28:24
  Speaker 1: them or shipped them. What is going on? Right. And, uh,
• 1:28:31
  Speaker 1: shipped them to South Korea, but then the South Koreans
• 1:28:33
  Speaker 1: asked that they not let the world know that that
• 1:28:36
  Speaker 1: had happened. And then, Zelensky turned around and did let
• 1:28:40
  Speaker 1: the world know. So that's horrible to the extent that
• 1:28:44
  Speaker 1: those are the facts, and clearly the Ukrainians should apologize.
• 1:28:51
  Speaker 1: I wouldn't generalize in terms of Eastern European dishonesty. I
• 1:28:56
  Speaker 1: don't know that we can generalize about Eastern Europeans as
• 1:28:58
  Speaker 1: being dishonest. That seems to be wrong as well. Not
• 1:29:06
  Speaker 1: sure what is going on here. It looks like my
• 1:29:09
  Speaker 1: Twitch account is frozen. Or the Twitch video is frozen.
• 1:29:12
  Speaker 1: Is that right? Or has been stopped? It's not running.
• 1:29:20
  Speaker 1: Let's see if that's the case. Yeah, it looks like
• 1:29:24
  Speaker 1: that stream ended prematurely for some reason. Not sure why.
• 1:29:33
  Speaker 1: It looks good on my side. Yeah, not sure what
• 1:29:36
  Speaker 1: happened there. All right. Ilya, I wanted to second Friend
• 1:29:42
  Speaker 1: Hopper's idea about doing a pre-show stream showing your news
• 1:29:47
  Speaker 1: roundup research. Didn't you teach a class about analyzing the
• 1:29:52
  Speaker 1: news on ARU? Yeah, but that's very different. I mean,
• 1:29:57
  Speaker 1: it wasn't a class really. But I still do. I
• 1:30:02
  Speaker 1: teach on how to look at the news. I'd have
• 1:30:07
  Speaker 1: to think about how to do that, right? Because my
• 1:30:10
  Speaker 1: process is not that explicit. I don't have to. It's
• 1:30:14
  Speaker 1: automatized by this point. So I would have to deconstruct it, right?
• 1:30:21
  Speaker 1: And teach it. Let me think about how to do that.
• 1:30:26
  Speaker 1: But again, that will have to wait until... I get
• 1:30:29
  Speaker 1: back from this pretty lengthy trip. Robert says, five minutes
• 1:30:35
  Speaker 1: with Robert and Amy Nassir is usually a casual conversational
• 1:30:41
  Speaker 1: show on Sunday nights. But maybe we need to do
• 1:30:45
  Speaker 1: special weekday news episodes when Iran's got other obligations. But
• 1:30:51
  Speaker 1: no one can do news like Iran. That's true. Nobody
• 1:30:53
  Speaker 1: can do news like me. Maybe you do a better show.
• 1:30:56
  Speaker 1: I don't know. Who knows? But, yeah, five minutes with
• 1:31:00
  Speaker 1: Robert and Amy. Check it out. Darius, why don't you
• 1:31:06
  Speaker 1: and others make modern artistic content, anime, video games, movies,
• 1:31:13
  Speaker 1: to promote your message? Ayn Rand's books are pretty old.
• 1:31:16
  Speaker 1: Because I'm not an artist. I mean, artists should make art.
• 1:31:22
  Speaker 1: People like me, who have no artistic talent, zero zilch nada,
• 1:31:28
  Speaker 1: should stay away from art. All we will make is propaganda,
• 1:31:32
  Speaker 1: and propaganda will hurt us more than anything. Ayn Rand
• 1:31:35
  Speaker 1: made art. So anybody out there who is an artist,
• 1:31:40
  Speaker 1: make great art. And if that great art happens to
• 1:31:43
  Speaker 1: have a message that's consistent with objectivism, cool. Cool. But
• 1:31:50
  Speaker 1: that's what has to happen. Artists make art. I am
• 1:31:54
  Speaker 1: not an artist. I'm a professional intellectual. Not the same thing.
• 1:32:02
  Speaker 1: All right, Roland says, safe travels. Remember not to neglect
• 1:32:06
  Speaker 1: your addicts too much. I will try. I will make
• 1:32:09
  Speaker 1: every effort I can to do as many shows as
• 1:32:11
  Speaker 1: I can. Matt says, get back on Destiny's show. Mention
• 1:32:14
  Speaker 1: that you started streaming on Twitch, and maybe he'll shout
• 1:32:18
  Speaker 1: out your channel to his audience if it goes well.
• 1:32:21
  Speaker 1: Thank you, Matt. And then Lone Descentor says, no profile
• 1:32:25
  Speaker 1: pic on Twitch. Empty about page. I thought I put
• 1:32:28
  Speaker 1: in my credential, my thing on a little bio. And
• 1:32:32
  Speaker 1: monetization is still off. Been partnered on Twitch six years,
• 1:32:37
  Speaker 1: and these are important. Emailed a few times when you ask,
• 1:32:41
  Speaker 1: but maybe I'm just writing crappy emails. I saw one
• 1:32:45
  Speaker 1: email that caused me to do something, but I haven't
• 1:32:48
  Speaker 1: seen the others, so I'm not sure. All right. Thank you, guys.
• 1:32:54
  Speaker 1: Have a great rest of your week. A special thanks to,
• 1:33:01
  Speaker 1: where is he? Tyler from Zurich. And, of course, Michael,
• 1:33:05
  Speaker 1: as always. But Tyler300, thanks. I appreciate that. Michael, thank
• 1:33:10
  Speaker 1: you for the $ 250 questions. Thank you, guys. I will
• 1:33:14
  Speaker 1: see you guys. I'm not sure when. Not sure when.
• 1:33:19
  Speaker 1: Exploring Simon, thank you for the For the sticker, I
• 1:33:22
  Speaker 1: think there was one other sticker that I didn't. Robert
• 1:33:24
  Speaker 1: did a sticker. And Silvanus, who I hadn't seen in
• 1:33:28
  Speaker 1: a while, did a sticker. So thank you, Silvanus. Really
• 1:33:30
  Speaker 1: appreciate that. Thank you, guys. See you from South America. When?
• 1:33:38
  Speaker 1: I'm not sure where. I'm pretty sure. I doubt I'm
• 1:33:41
  Speaker 1: going to be able to do one from New York
• 1:33:43
  Speaker 1: tomorrow or the day after. But I do know I'll
• 1:33:46
  Speaker 1: make every effort to do a few shows from South America. Bye, everybody.