Latest / Tony Katz | Popcorn Moment / N & S Korea GDP, China, Fetterman

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N & S Korea GDP, China, Fetterman · Tony Katz | Popcorn Moment

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  Speaker 2: Go, let's go.
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  Speaker 1: It's a story you need to hear to believe. Then
• 1:33
  Speaker 1: grab your popcorn because there is more.
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  Speaker 2: I'm gonna get to some audio in.
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  Speaker 1: A second, but a great, great piece of data where
• 1:46
  Speaker 1: someone took a look at the GDP, the gross domestic
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  Speaker 1: product per capita between North Korea and South Korea.
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  Speaker 2: It's so good.
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  Speaker 1: Because when you take a look at things, you know,
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  Speaker 1: before the Korean War, it wasn't great, it wasn't great,
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  Speaker 1: it wasn't wonderful, it wasn't terrific.
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  Speaker 2: It was a poor country.
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  Speaker 1: Then you have the Korean War, and you've got the
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  Speaker 1: split between the North and the South, and you have
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  Speaker 1: the war over and they decide that they're going to
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  Speaker 1: embrace we'll call it some level of.
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  Speaker 2: Communism, right.
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  Speaker 1: North Korea does that, and South Korea is much, say
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  Speaker 1: some level total levels, and South Korea is.
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  Speaker 2: Like, we're going to try these markets.
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  Speaker 1: And right now the GDP the per capita as of
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  Speaker 1: twenty twenty two in South korea's forty two thousand dollars
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  Speaker 1: and in North Korea it's two thousand dollars.
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  Speaker 2: But Communism's great or some other kind of.
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  Speaker 1: Nonsense like that, Well, China has a bigger GDP than
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  Speaker 1: both China steals.
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  Speaker 2: China is a fraud.
• 3:11
  Speaker 1: You want a story about China, allow me to bring
• 3:14
  Speaker 1: a story about China. The story is is that the
• 3:20
  Speaker 1: real estate market in China has erased all gains from
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  Speaker 1: the last twenty years. This is for the Bank of
• 3:28
  Speaker 1: International Sentiments Settlements via Fred Fried.
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  Speaker 2: All of the gains from two thousand and six.
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  Speaker 1: And how it's gone up, up, up, and certainly they've
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  Speaker 1: had dippers, but always always.
• 3:41
  Speaker 2: Up off the cliff. Well, of course it's off the cliff.
• 3:50
  Speaker 1: I had somebody reach out to me and say, is
• 3:52
  Speaker 1: this a predictable because of everground, Evergrand and country garden,
• 3:56
  Speaker 1: two things that we discussed here. These massive real estate firms,
• 4:00
  Speaker 1: insanely even pension funds in the United States were investing
• 4:03
  Speaker 1: in No pension fund should be allowed to invest in
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  Speaker 1: any Chinese company at all.
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  Speaker 2: We're insane if we allow it.
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  Speaker 1: If you're in a pension and they're investing in China,
• 4:14
  Speaker 1: if the laws don't already exist, they must exist.
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  Speaker 2: Insane.
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  Speaker 1: But these companies, they were already failing two years ago.
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  Speaker 1: We were discussing it in depth, we were engaging the
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  Speaker 1: Wall Street Journal reporting about this.
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  Speaker 2: Absolutely the case ten thousand percent.
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  Speaker 1: Also, China made a series of missteps because as they
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  Speaker 1: were stealing and growing, they were investing in infrastructure. Everything
• 4:42
  Speaker 1: was about infrastructure. The problem is they were taking cities
• 4:47
  Speaker 1: that have a GDP, like North Korea, and they were
• 4:51
  Speaker 1: building five airports.
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  Speaker 2: We're Indianapolis.
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  Speaker 1: We've got one airport, two regionals, one international.
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  Speaker 2: You can handle five airports. We have no need for it,
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  Speaker 2: no matter how much the East siders don't want to.
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  Speaker 1: Drive to the west side. We're not getting another airport.
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  Speaker 1: They built so they could give people jobs. They didn't
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  Speaker 1: build because they had actual growth opportunities. Japan did this
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  Speaker 1: in the nineteen eighties. Hey, producer, Carl, just a quick
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  Speaker 1: Japan question for you. What happened to Japan's economy in
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  Speaker 1: the nineteen eighties.
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  Speaker 2: It's been stagnant for like thirty years.
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  Speaker 1: True stagflation for three By the way, we didn't prepare
• 5:34
  Speaker 1: that true stagflation for three decades because their investments were
• 5:40
  Speaker 1: improper and China went.
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  Speaker 2: Down the same road. Add to this the population.
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  Speaker 1: Bomb that's going to remove eight hundred million people from
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  Speaker 1: that country because they don't have the population to replace
• 5:52
  Speaker 1: the one point three billion people they have. If you
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  Speaker 1: even believe that number, bad things for China, really bad
• 6:02
  Speaker 1: things for China. But let me give you the popcorn
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  Speaker 1: moment really quick. It's a story you need to hear
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  Speaker 1: to believe. You play the play the play the music,
• 6:12
  Speaker 1: play the there is then grab your popcorn because there
• 6:17
  Speaker 1: is more set con fetterman and a very clean hoodie
• 6:21
  Speaker 1: telling Democrats, would you give up the Trump derangement syndrome
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  Speaker 1: in a conversation with Greta van Susteren and just build
• 6:28
  Speaker 1: the dang ballroom.
• 6:29
  Speaker 3: Drop the tds, you know, let's just build this ballroom.
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  Speaker 3: And we always, as Democrats, we want to be the
• 6:36
  Speaker 3: party of abundance, you know, But but you know, we
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  Speaker 3: have a history shutting things down or taking years, years
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  Speaker 3: and years to do the very basic kinds of a
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  Speaker 3: thing of construction. And the president is not going to
• 6:48
  Speaker 3: be in office when that thing's even going to be finished,
• 6:51
  Speaker 3: you know, so this isn't really him. But so that's
• 6:54
  Speaker 3: that's part of it, and the concern. You could have
• 6:57
  Speaker 3: a lot more inclusive and frequent and secure the most important,
• 7:02
  Speaker 3: secure events, just in a.
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  Speaker 2: Facility like that.
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  Speaker 3: I never really had a problem with it to begin with.
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  Speaker 3: But I've been at events where people are intense. I
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  Speaker 3: mean it's just like, you know, that's not the most
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  Speaker 3: powerful country in the world, where people trodging around and
• 7:18
  Speaker 3: saw it, you know, intense for state events. So like
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  Speaker 3: that's part of it. That's really the reality here. And
• 7:29
  Speaker 3: after that event, we got so lucky as a nation.
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  Speaker 3: So why are we arguing about is this too big?
• 7:36
  Speaker 3: Is it to this or to that? It's just I mean,
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  Speaker 3: let's just let's do this.
• 7:42
  Speaker 1: The Voice of reason can't believe I actually said that,
• 7:44
  Speaker 1: but it is true, and you've said it to and
• 7:47
  Speaker 1: you said, I can't believe I just said that.