Latest / Breaking Points with Krystal and Saagar / 6/1/26: US Bombs Iran, Jeff Sachs On WH Econ Lies, Artists Bail On Trump 250th Event

Transcript

6/1/26: US Bombs Iran, Jeff Sachs On WH Econ Lies, Artists Bail On Trump 250th Event · Breaking Points with Krystal and Saagar

• 0:00
  Speaker 1: Hey guys, Saga and Crystal here.
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  Speaker 1: Good morning, buddy, Happy Monday. We have an amazing show
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  Speaker 1: for everybody today. What do we have, Crystal.
• 0:37
  Speaker 2: Indeed, we do a lot of breaking news that we
• 0:39
  Speaker 2: added to the show this morning. There is a new
• 0:41
  Speaker 2: exchange of fire between the US and Iran. Trump is
• 0:44
  Speaker 2: complaining about people chirping making it harder to get a deal.
• 0:48
  Speaker 2: Jeffrey sax Is goon and join us to talk about
• 0:49
  Speaker 2: all of that. He's also going to take a look
• 0:51
  Speaker 2: at the continued economic fallout, and it's some very interesting
• 0:55
  Speaker 2: comments from a economic advisor to the president. Kevin Hassett
• 1:00
  Speaker 2: is that his name Kevin anyway? After major cancelations, Trump
• 1:04
  Speaker 2: is floating canceling All America to fifty performances and just
• 1:07
  Speaker 2: giving a rally speech because we've never seen that before.
• 1:10
  Speaker 2: Israel is being integrated deeply into our fence industrial base.
• 1:13
  Speaker 2: Brandon Wikert is going to join us with his analysis
• 1:16
  Speaker 2: of that. But it is not too late to stop,
• 1:18
  Speaker 2: so we all need to take action right away to
• 1:21
  Speaker 2: make sure this provision does not go forward. Graham Platner
• 1:24
  Speaker 2: and his wife are responding to sexting allegations from a
• 1:27
  Speaker 2: disgruntled former campaign staffer, and a bunch of centrist Dems
• 1:31
  Speaker 2: are low key suggesting that Democrats should vote for the
• 1:33
  Speaker 2: Republican instead. And Janke Huger and Hassan Piker were both
• 1:38
  Speaker 2: blocked from entering the UK over their Israel criticism. Absolute insanity.
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• 1:47
  Speaker 2: what happened in his reaction.
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  Speaker 2: To Jenkin last minute, so that extended the length of
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  Speaker 4: So may get out a little bit.
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  Speaker 1: Late, and may get out a little bit late. We
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  Speaker 3: It is major breaking news and we do of course
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• 2:49
  Speaker 3: let's go ahead and start here with the situation in
• 2:52
  Speaker 3: Iran in deja vu for this show. We had something
• 2:54
  Speaker 3: planned for ceasefire, and yet it begins with an exchange
• 2:58
  Speaker 3: of fire last night between the United States and Iran.
• 3:01
  Speaker 1: I's going to put this up here on the screen.
• 3:03
  Speaker 3: Actually, arguably the more serious exchanges of fire that have
• 3:06
  Speaker 3: happened now, the United States has struck Iranian air defenses
• 3:10
  Speaker 3: on Kesham Island after Iran brought down an MQ nine
• 3:15
  Speaker 3: one or sorry, an MQ one drone, a four million
• 3:18
  Speaker 3: dollar surveillance drone from the United States. The US fighters
• 3:22
  Speaker 3: also claimed that they shot down two Iranian attract tack
• 3:26
  Speaker 3: dones that posed a threat to throat threat to ships
• 3:30
  Speaker 3: in the Strait of Hormuz and transiting oil tankers. So
• 3:34
  Speaker 3: Kuwait as of this morning, said that the country was
• 3:37
  Speaker 3: then under attack by ballistic missiles and drones. Alarms sounded
• 3:41
  Speaker 3: across the country, the United States taking out some air
• 3:44
  Speaker 3: defense systems, radar and drone sites on Kesham Island. So
• 3:48
  Speaker 3: all of this is very familiar. But the exchange of fire,
• 3:52
  Speaker 3: the serious exchange of fire here multiple different things happening.
• 3:55
  Speaker 3: US bases that were under attack actually come on the
• 3:59
  Speaker 3: heels of a more serious development, which is the hot
• 4:02
  Speaker 3: conflict in Lebanon, which of course we've been covering day
• 4:06
  Speaker 3: after day here on the show.
• 4:07
  Speaker 1: For this very reason.
• 4:08
  Speaker 3: Iran has said unequivocally that the ceasefire applies to Lebanon.
• 4:12
  Speaker 3: This was confirmed by the Pakistanis in the original April
• 4:15
  Speaker 3: seven announcement of the ceasefire. Of course, fire never actually
• 4:18
  Speaker 3: ceased in Lebanon. Iran was willing to give the United
• 4:21
  Speaker 3: States some ground where they were trying to negotiate a
• 4:24
  Speaker 3: ceasefire between the Lebanese government and between the Israeli government.
• 4:28
  Speaker 3: All of that apparently has currently as of right now,
• 4:31
  Speaker 3: seems to have failed. Here is a major reminder by
• 4:34
  Speaker 3: the Iranian Foreign Minister. Let's put this up here on
• 4:36
  Speaker 3: the screen again, literally breaking minutes before even doing our show.
• 4:40
  Speaker 3: This is from Sayid Arachi for immediate attention. The ceasefire
• 4:43
  Speaker 3: between Iran and the United States is unequivocally a ceasefire
• 4:46
  Speaker 3: on all fronts, including in Lebanon. Its violation on one
• 4:50
  Speaker 3: front is a violation of the ceasefire on all fronts.
• 4:53
  Speaker 3: The US and Israel are responsible for the consequences of
• 4:57
  Speaker 3: any violation, and this come after immediate announcement from the
• 5:02
  Speaker 3: Israeli Prime Minister in response to the repeated and ongoing
• 5:06
  Speaker 3: violations of the ceasefire in Lebanon by the terrorist organization
• 5:09
  Speaker 3: has Bulah and the attacks against our cities and citizens,
• 5:12
  Speaker 3: I have instructed the IDF, together with the Defense Minister
• 5:15
  Speaker 3: Israel Cats to strike terrorist targets in the Daia district
• 5:20
  Speaker 3: of Beirut. So we again will almost certainly tomorrow have
• 5:25
  Speaker 3: some video of just absolutely apocalyptic scenes out of Beirut
• 5:30
  Speaker 3: as Israel's military will pound the country of Lebanon. Remember
• 5:35
  Speaker 3: this is strikes that are happening in the capitol while
• 5:38
  Speaker 3: Israeli forces continue to advance farther and farther into the
• 5:41
  Speaker 3: country with their own stated goal of never leaving a
• 5:45
  Speaker 3: serious portion and effectively taking over half of the country.
• 5:49
  Speaker 3: This continues as there were all more than fifty attacks
• 5:51
  Speaker 3: actually in northern Israel as of this morning from Hesbola.
• 5:55
  Speaker 3: So it does seem but this has been a low
• 5:57
  Speaker 3: grade conflict. Crystal has been happening the higher time of
• 6:00
  Speaker 3: the Ceaspire, but it is becoming clearer and clearer Israel
• 6:03
  Speaker 3: will not stop its advancement into Lebanon, and that the ceasfire.
• 6:07
  Speaker 3: Talks between the Israeli government and the Lebanese government, which
• 6:11
  Speaker 3: even then exclude Hezbolla themselves, do not even appear to
• 6:14
  Speaker 3: be progressing, which is endangering the entire framework or any
• 6:17
  Speaker 3: hope of such framework as of this morning.
• 6:20
  Speaker 2: Yeah, that's absolutely right, and we've known this from the beginning.
• 6:22
  Speaker 2: I mean, Iran has consistently stated that they are looking
• 6:25
  Speaker 2: for a ceasefire and an end to hostilities on all fronts.
• 6:29
  Speaker 2: They have focused on Lebanon from the very beginning. I
• 6:31
  Speaker 2: remember when Trump announced that he had accepted as a
• 6:34
  Speaker 2: basis for negotiations the Iranian Ten point Plan. It was
• 6:37
  Speaker 2: made very clear in that process that Lebanon was considered
• 6:41
  Speaker 2: essential to moving forward, and the Iranians have not backed
• 6:45
  Speaker 2: off of this whatsoever. Meanwhile, Trump has effectively given Israel
• 6:49
  Speaker 2: the green light to go forward with this, after at
• 6:51
  Speaker 2: one point saying that you know, they must stop and
• 6:54
  Speaker 2: demanding that on true social since then, he has now
• 6:57
  Speaker 2: effectively given them the green light to continue to and
• 7:00
  Speaker 2: attack within Lebanon. These Raelis and their supporters and allies
• 7:04
  Speaker 2: recognize that this could be a very effective way to
• 7:07
  Speaker 2: blow up the deals, so no one should be surprised
• 7:09
  Speaker 2: that that is exactly what they are trying to do.
• 7:12
  Speaker 2: Because they do not want this deal to go forward.
• 7:15
  Speaker 2: Trump seems unwilling to do what it takes to ring
• 7:18
  Speaker 2: them in, and the Iranians are still drawing a hard
• 7:20
  Speaker 2: line around this, so, you know, to call it a
• 7:23
  Speaker 2: major obstacle, it's an impossibility if some dynamic doesn't shift.
• 7:27
  Speaker 2: Trump also posting kind of a revealing truth social that
• 7:31
  Speaker 2: we can put up on the screen here. As you know,
• 7:34
  Speaker 2: deal negotiations seem to be teetering. I guess we'll say,
• 7:38
  Speaker 2: he said, Iran really wants to make a deal and
• 7:40
  Speaker 2: it will be a good one for the USA and
• 7:42
  Speaker 2: those that are with us. But don't the Democrats and
• 7:45
  Speaker 2: various seemingly unpatriotic Republicans understand that it is much tougher
• 7:50
  Speaker 2: for me to properly do my job and negotiate when
• 7:52
  Speaker 2: political hacks keep negatively chirping at levels never seen before,
• 7:57
  Speaker 2: over and over again that I should move fast or
• 7:59
  Speaker 2: move slow, or go to war or not go to
• 8:01
  Speaker 2: war or whatever. Just sit back and relax, sager. It
• 8:06
  Speaker 2: will all work out well in the end. It always does.
• 8:10
  Speaker 2: That really reminded me of one of the things Tucker
• 8:13
  Speaker 2: said about his conversations with Trump when he was urging
• 8:16
  Speaker 2: him not to engage in this foolish and disastrous war.
• 8:20
  Speaker 2: Is that Trump said to him, effectively, don't worry, It's
• 8:22
  Speaker 2: all going to be fine. And Tucker was like, well,
• 8:25
  Speaker 2: why what makes you say that? Why do you think that?
• 8:27
  Speaker 2: And he said exactly this, because it always works out.
• 8:30
  Speaker 2: It'll be fine, because he's always landed on his feet.
• 8:33
  Speaker 2: He's going to land on his feet this time. Not
• 8:35
  Speaker 2: based on any sort of reason or logic or rationality
• 8:38
  Speaker 2: or plan to extricate ourselves from this mess, just a
• 8:42
  Speaker 2: blind narcissistic faith in his own sort of like divine
• 8:46
  Speaker 2: right to always have things work out. And so that's
• 8:48
  Speaker 2: what he's selling to the public. The other interesting thing
• 8:51
  Speaker 2: Sager I think to note here is, you know, in
• 8:53
  Speaker 2: his comments about chirping, you could imagine and he sort
• 8:56
  Speaker 2: of alludes to that, it could be the neocons that
• 8:59
  Speaker 2: he's annoyed with in terms of chirping, because they're pushing that, oh,
• 9:03
  Speaker 2: we need to we need to go back to more war,
• 9:06
  Speaker 2: we need to be more aggressive. You know, we've got
• 9:08
  Speaker 2: to make sure that we don't give wrong absolutely anything
• 9:11
  Speaker 2: in terms of this deal. We've got to be as
• 9:13
  Speaker 2: hawkish as possible. But that is sort of undercut the
• 9:16
  Speaker 2: notion that he's pushing back on them as undercut by
• 9:18
  Speaker 2: the fact that earlier he encouraged everyone to go and
• 9:21
  Speaker 2: watch Mark Levin's show.
• 9:22
  Speaker 4: Oh that will say, that would be a very encouraging sign.
• 9:25
  Speaker 3: That would be a very comforting thought if we did
• 9:27
  Speaker 3: not have this. Let's put a five up there on
• 9:29
  Speaker 3: the screen over the weekend, the President posting on truth
• 9:33
  Speaker 3: Social watch Mark Levin tonight at eight a big show,
• 9:38
  Speaker 3: which immediately then is followed by this Mark Levin interview
• 9:42
  Speaker 3: with the former Israeli ambassador.
• 9:44
  Speaker 1: Let's take a listen.
• 9:45
  Speaker 5: Tell me what is the mindset in Israel with the
• 9:48
  Speaker 5: Israeli people and so forth.
• 9:50
  Speaker 6: Very concerned, Mark, I'll be very frank with you, very
• 9:52
  Speaker 6: concerned that if the regime is thrown a lifeline through
• 9:57
  Speaker 6: sanctioned relief, through the unfreezing of frozen assets you're talking
• 10:01
  Speaker 6: about tens and tens of billions of dollars, then it
• 10:04
  Speaker 6: will continue to fund his bullup. It'll continue to fund
• 10:06
  Speaker 6: hamas he'll continue to build intercontinental ballistic missiles that have
• 10:10
  Speaker 6: threatened us.
• 10:11
  Speaker 7: And what I want to say to the President if
• 10:14
  Speaker 7: I had that elevator talk with him, as they talk
• 10:16
  Speaker 7: about in Washington, where you get caught an elevator with
• 10:18
  Speaker 7: somebody for two minutes. I'd say to them, as president, you
• 10:21
  Speaker 7: have an opportunity to go down history not as one
• 10:23
  Speaker 7: of the great presidents of American history, but one of
• 10:25
  Speaker 7: the great leaders of all time, the ultimate game changer.
• 10:30
  Speaker 7: And I know it's difficult and under your mints pressures
• 10:33
  Speaker 7: economically politically, but stay the course, stay the course, and
• 10:39
  Speaker 7: run out the clock on these guys because they have
• 10:41
  Speaker 7: a clock.
• 10:42
  Speaker 5: And you know what else, Let's say my team loses
• 10:46
  Speaker 5: the midterm elections in the House of Representatives, They're still
• 10:51
  Speaker 5: not going to be able to stop the commander in chief,
• 10:54
  Speaker 5: the President of the United States, under our Constitution, from
• 10:57
  Speaker 5: doing what he needs to do and what he wants
• 10:59
  Speaker 5: to to do. War Powers Act, No War Powers Act,
• 11:03
  Speaker 5: and all the rest of it unless they intervene in
• 11:07
  Speaker 5: a budgetary way and literally cut us off. But that's
• 11:12
  Speaker 5: on them if they do it.
• 11:14
  Speaker 3: So that's basically we're all ungrateful knits and it's all
• 11:19
  Speaker 3: worth it in the end. You also just love having
• 11:21
  Speaker 3: a literal Israeli politician who is you know, from the
• 11:25
  Speaker 3: United State. It's actually I think believe you renounced the
• 11:27
  Speaker 3: citizenship to be able to become the Israeli ambassador to
• 11:30
  Speaker 3: the United States. Then talk to Trump about how he
• 11:32
  Speaker 3: can go down as a great man of history. So
• 11:35
  Speaker 3: that is apparently where things are right now. We do
• 11:38
  Speaker 3: have the great professor Jeffrey Sachs to break some more.
• 11:41
  Speaker 1: Of this down, the situation with Iran, let's get to it.
• 11:44
  Speaker 2: So joining us now to break down all of these
• 11:46
  Speaker 2: developments and war is Columbia University professor and economist and
• 11:50
  Speaker 2: great friend of the show, Jeffrey Sacks.
• 11:52
  Speaker 4: Great to see Zar.
• 11:52
  Speaker 1: Good to see Zar, Great to be with you.
• 11:54
  Speaker 8: Thank you.
• 11:54
  Speaker 2: So we just went over some of the developments this morning.
• 11:58
  Speaker 2: We've had a new exchange of fire between the Iran
• 12:00
  Speaker 2: and US and Iran and Kuwait. We also have Trump
• 12:04
  Speaker 2: coming out and complaining about people chirping as he's trying
• 12:07
  Speaker 2: to make a deal.
• 12:08
  Speaker 4: Obviously, Israel continues to.
• 12:10
  Speaker 2: Bomb inside of Lebanon, and Iran continues to insist that
• 12:14
  Speaker 2: is a red line for them. So what do you
• 12:16
  Speaker 2: see as going on right now? Do you think we
• 12:19
  Speaker 2: are actually close to a deal or is this whole
• 12:22
  Speaker 2: thing falling apart and degrading.
• 12:25
  Speaker 9: I don't know if there can be a deal, But
• 12:28
  Speaker 9: there can be a solution, and the solution is quite straightforward.
• 12:34
  Speaker 9: The United States should leave.
• 12:36
  Speaker 8: That's all.
• 12:37
  Speaker 9: The United States and Israel had an idea. It was crazy,
• 12:42
  Speaker 9: it failed, But the idea was that in one day
• 12:46
  Speaker 9: they would take over Iran. That was literally the idea,
• 12:51
  Speaker 9: that they would kill the leadership, put in a new
• 12:54
  Speaker 9: leader of their choice, and then we'd all live happily
• 12:58
  Speaker 9: ever after in their fantasy land. This failed. Within hours,
• 13:04
  Speaker 9: Iran consolidated its a government, especially the Islamic Revolutionary Guard Corps,
• 13:16
  Speaker 9: consolidated its control, and most importantly, Iran demonstrated the capacity
• 13:22
  Speaker 9: to retaliate and to retaliate very effectively. And the United
• 13:27
  Speaker 9: States and Israel can do nothing about this. In other words,
• 13:32
  Speaker 9: there is no military solution period. Trump continues to act
• 13:39
  Speaker 9: as if he can make total demands on the Iranian
• 13:45
  Speaker 9: side that Iran has no interest in agreeing to, and
• 13:52
  Speaker 9: from Israel's point of view, of course, Yahoo simply wants
• 13:57
  Speaker 9: the war to continue and to escalate. So Israel uses
• 14:02
  Speaker 9: the United States. It abuses the United States, the US
• 14:06
  Speaker 9: lets itself be abused, and this is where we are.
• 14:11
  Speaker 9: Nothing has changed since March first, and Trump can fulminate,
• 14:17
  Speaker 9: he can make demands, he can make threats. None of
• 14:21
  Speaker 9: these threats is credible. He knows it, the US intelligence
• 14:27
  Speaker 9: agencies know it, the Pentagon knows it. There's no military solution,
• 14:32
  Speaker 9: So what should be done? I personally don't see how
• 14:36
  Speaker 9: there can be an agreement on complex issues like the
• 14:42
  Speaker 9: nuclear brief. You're going to have Kushner and Witkoff negotiate
• 14:49
  Speaker 9: a nuclear arms control agreement?
• 14:52
  Speaker 8: Are you kidding? Of course not so.
• 14:56
  Speaker 9: The idea that this is somehow real negotiations is.
• 15:02
  Speaker 8: Ludicrous.
• 15:03
  Speaker 9: The idea that Iran, in this circumstance where you have
• 15:07
  Speaker 9: a war criminal nearby net Yahu saying we need to
• 15:13
  Speaker 9: kill all of them unilaterally giving up anything is absurd.
• 15:19
  Speaker 9: When you are facing a Donald Trump who says, let's negotiate,
• 15:23
  Speaker 9: and then he bombs you the next moment, it's absurd.
• 15:27
  Speaker 9: So I personally don't see how there can be a
• 15:30
  Speaker 9: negotiated agreement. But I see a perfectly fine solution, which
• 15:36
  Speaker 9: is the United States leads, goes home, declares victory, of course,
• 15:41
  Speaker 9: the greatest victory in the history of humanity, and Iran
• 15:46
  Speaker 9: opens up straight again, and yeah, maybe collects a dollar
• 15:51
  Speaker 9: a barrel of oil, because that would be about seven
• 15:55
  Speaker 9: billion dollars a year against maybe fifty billion dollars of
• 16:02
  Speaker 9: destruction by Israel and the United States in the last
• 16:06
  Speaker 9: ninety days. So no problem, nothing even to discuss next year.
• 16:13
  Speaker 9: If you don't send Kushner and Witkoff, but you actually
• 16:18
  Speaker 9: send some competent people, then the nuclear issue can be
• 16:23
  Speaker 9: brought up again. Of course, we know the ultimate irony
• 16:27
  Speaker 9: is the nuclear issue was solved eleven years ago and
• 16:31
  Speaker 9: Trump ripped it up. So this is immaturity, it's petulance,
• 16:38
  Speaker 9: it's stubbornness, it's the Zionist lobby, it's a refusal to
• 16:44
  Speaker 9: face facts. It's an old, ignorant man as our president.
• 16:51
  Speaker 9: But there's an obvious answer. Get the oil prices down.
• 16:55
  Speaker 9: Go home, have a shot at your midterm elections, which
• 16:58
  Speaker 9: Trump now.
• 16:59
  Speaker 8: Says he does and care about. Good if he doesn't.
• 17:03
  Speaker 9: But I don't want it to be decided on the
• 17:06
  Speaker 9: basis of continued war. But in any event, just go home.
• 17:11
  Speaker 9: You tried something, you try to stunt. Someone sold you
• 17:15
  Speaker 9: a line. We know who it is. Barneer and bb
• 17:20
  Speaker 9: sold Trump a line. He alone in the room bought it.
• 17:24
  Speaker 9: The others thought it was farcical, but he bought it.
• 17:28
  Speaker 9: They tried it, it failed.
• 17:30
  Speaker 8: Well, what are you going to do?
• 17:31
  Speaker 9: Keep trying the same farcical failure. That's that's where we
• 17:36
  Speaker 9: are right now. No need for a deal, No need
• 17:39
  Speaker 9: for a deal.
• 17:40
  Speaker 2: Of course, the professor forgets that they've also added someone
• 17:43
  Speaker 2: from the Foundation for the Defensive Democracies to the negotiating team.
• 17:47
  Speaker 8: So surely I'm sorry, fair enough, fair enough.
• 17:51
  Speaker 1: I did one last question on a ronswir zooming out.
• 17:54
  Speaker 3: You travel the world, you speak to a lot of
• 17:56
  Speaker 3: diplomats Europe and Asia. What has the been the reaction
• 18:00
  Speaker 3: behind the scenes. You talk to a lot of these
• 18:01
  Speaker 3: world leaders and a lot of these diplomats. What are
• 18:04
  Speaker 3: they all thinking right now about the United States in
• 18:06
  Speaker 3: the aftermath of the Iran War.
• 18:08
  Speaker 9: I think everyone sees that the United States government is incompetent, irrational, incapable.
• 18:17
  Speaker 9: So this is a display of the lack of any
• 18:23
  Speaker 9: process or foresight. They see an old guy surrounded by
• 18:30
  Speaker 9: yes men, by sick ephants, making decisions that net who
• 18:37
  Speaker 9: passes to him, and it's not impressive. So I think
• 18:43
  Speaker 9: the world doesn't quite know how to handle this. They
• 18:46
  Speaker 9: have business to do with the United States. But this
• 18:49
  Speaker 9: has been a display of profound incompetence, and that I
• 18:55
  Speaker 9: think is the overriding fact. Of course, they're staff also
• 19:01
  Speaker 9: there are energy prices of sword. This hurts people across
• 19:07
  Speaker 9: the world. They don't like this, They want this to end.
• 19:11
  Speaker 9: But the main thing that they see is instability and
• 19:16
  Speaker 9: incompetence in the United States.
• 19:20
  Speaker 2: So, Professor, what we have you here today. We wanted
• 19:23
  Speaker 2: to lean into your expertise as an economist to help
• 19:26
  Speaker 2: us assess what is going on here with the economic
• 19:29
  Speaker 2: fallout from the Iran war. Is we have some pretty
• 19:32
  Speaker 2: interesting comments here from Kevin Hassett, who is a top
• 19:35
  Speaker 2: economic advisor to the president, who is seeing positive signs
• 19:40
  Speaker 2: in the fact that Americans are spending more.
• 19:43
  Speaker 4: Let's take a listen to that.
• 19:44
  Speaker 10: One of the reasons is that people are spending more
• 19:47
  Speaker 10: on guts, but they're also spending more on everything else,
• 19:50
  Speaker 10: not just groceries, but restaurants and so on. And I
• 19:53
  Speaker 10: think that that's a sign that you would see when
• 19:56
  Speaker 10: people are optimistic about the future. So generally, what we
• 19:59
  Speaker 10: see when people are worried they're going to lose their job,
• 20:01
  Speaker 10: which they shouldn't be because in additional claims for employment
• 20:04
  Speaker 10: insuran's about the lowest they've ever been. When they're worried
• 20:06
  Speaker 10: they're going.
• 20:07
  Speaker 8: To lose their job.
• 20:07
  Speaker 10: So that's why they stop spending like crazy and start
• 20:10
  Speaker 10: saving money because they're worried they might not have to
• 20:12
  Speaker 10: pay they might have the money for their paying their rent.
• 20:14
  Speaker 10: And so what we're seeing right now is spending based
• 20:17
  Speaker 10: on optimism about the future.
• 20:19
  Speaker 8: And if you consider how big.
• 20:21
  Speaker 10: The boom is going to be, like right now Atlanta
• 20:23
  Speaker 10: fens Shepp now is about a four percent growth for
• 20:25
  Speaker 10: the current quarter. If you look at how big the
• 20:27
  Speaker 10: boom will be when the straits open, then it's reasonable
• 20:31
  Speaker 10: for people to be optimistic.
• 20:32
  Speaker 11: Well, we hope there is reason for optimism with the
• 20:34
  Speaker 11: straight and beyond.
• 20:35
  Speaker 2: So Professor he says, Oh, not only are they spending
• 20:38
  Speaker 2: more on gas, they're spending.
• 20:39
  Speaker 4: More on everything.
• 20:40
  Speaker 9: Was that AI generated by the way, that's really make
• 20:43
  Speaker 9: it up.
• 20:43
  Speaker 1: Real's actually said that twice.
• 20:45
  Speaker 9: That's that smile seemed completely phony, And of course every
• 20:51
  Speaker 9: word he was saying was a lie. Because consumer confidence
• 20:55
  Speaker 9: has plummeted. People are suffering. The American economy has two.
• 21:00
  Speaker 8: Parts to it.
• 21:01
  Speaker 9: There is a digital and war industry, which is booming.
• 21:06
  Speaker 9: Let's say it's booming on Pentagon contracts, it's booming on war.
• 21:12
  Speaker 9: So if you look at the Silicon Valley and you
• 21:16
  Speaker 9: look at the AI bubble and now AI bubble for
• 21:21
  Speaker 9: autonomous weapons and palanteer information systems and the like, Yeah,
• 21:27
  Speaker 9: this is good if you happen to be the few
• 21:30
  Speaker 9: people that own our government. But for the rest of Americans,
• 21:35
  Speaker 9: they can't believe what's going on. And that's why Trump's
• 21:39
  Speaker 9: approval rating reached the grand number of thirty four percent
• 21:45
  Speaker 9: against I think it's fifty eight percent disapproval rating in
• 21:50
  Speaker 9: the most recent Economist poll, but somewhere around their fifty
• 21:53
  Speaker 9: eight to sixty percent. People are disgusted. They can't pay
• 21:56
  Speaker 9: their bills. The United States budget is totally a joke.
• 22:05
  Speaker 9: Seven percent of GDP budget deficit. Trump's asking for a
• 22:10
  Speaker 9: five hundred billion dollar increase of military spending.
• 22:14
  Speaker 8: This is nuts.
• 22:16
  Speaker 9: This is exactly what we're seeing in the domestic management
• 22:21
  Speaker 9: that the rest of the world is watching in the
• 22:24
  Speaker 9: American escapades in the Gulf.
• 22:26
  Speaker 8: Complete incompetence.
• 22:28
  Speaker 9: And I hope they pay hasse it well, because you know,
• 22:32
  Speaker 9: to be a grown person and stand up and say
• 22:36
  Speaker 9: such nonsense I hope he gets some compensation for that.
• 22:41
  Speaker 3: Well, we have another one for you here. He is
• 22:43
  Speaker 3: talking about credit card debt. Let's take a listen.
• 22:45
  Speaker 11: Credit card debt, though, because that's another issue. Wall Street
• 22:47
  Speaker 11: Journal says in the first quarter of this year, the
• 22:49
  Speaker 11: percentage of credit card balances that were at least ninety
• 22:52
  Speaker 11: days delinquent rose to thirteen point one two percent, according
• 22:56
  Speaker 11: to data released in May by the Federal Reserve Bank
• 22:58
  Speaker 11: of New York. That's the high level in fifteen years
• 23:01
  Speaker 11: and the most since the period following the two thousand
• 23:03
  Speaker 11: and eight financial crisis. People say they're using those cards
• 23:06
  Speaker 11: to get through necessities because they can't afford what's going on?
• 23:11
  Speaker 11: So your message to.
• 23:12
  Speaker 10: Them, right, Well, we talked to the CEOs of the
• 23:15
  Speaker 10: credit card companies all the time, and we do see
• 23:17
  Speaker 10: some increased stress, like the numbers at the Wall Street
• 23:21
  Speaker 10: Journal quotes. But for the most part, the delinquency is
• 23:26
  Speaker 10: different from default, and there's not any kind of threat,
• 23:30
  Speaker 10: the financial threat to the credit card companies that they
• 23:33
  Speaker 10: don't feel like they're heading towards default scenarios. It's just
• 23:36
  Speaker 10: that people are taking a little bit longer.
• 23:38
  Speaker 3: He assures, A sort of the credit card companies are
• 23:40
  Speaker 3: going to be okay. As for the customers, he's not
• 23:43
  Speaker 3: so sure.
• 23:44
  Speaker 8: I love that smile.
• 23:45
  Speaker 9: I just have to keep emphasizing that this is a
• 23:50
  Speaker 9: This is quite a commentator, but yes, you know, it's
• 23:55
  Speaker 9: also absurd they talk to the CEOs. I'm sure the
• 23:59
  Speaker 9: ceo they're doing just fine, thank you. But the people
• 24:03
  Speaker 9: who's credit card bills from necessities, as the Fox News
• 24:08
  Speaker 9: was kind enough to remind us, is soaring. So we
• 24:13
  Speaker 9: have two Americas. One has most of the people in it.
• 24:18
  Speaker 9: They're not feeling well. They hate this war. By overwhelming majorities,
• 24:24
  Speaker 9: they can't pay their bills. They are falling further and
• 24:27
  Speaker 9: further behind. And then we have the CEO class of course,
• 24:32
  Speaker 9: and we have Anderill and we have palent here, we
• 24:37
  Speaker 9: have all of the big tech companies. They're having a
• 24:40
  Speaker 9: glorious time. War is good business and things are revving up.
• 24:44
  Speaker 2: I wanted to ask you more about your analysis earlier
• 24:49
  Speaker 2: of how this is kind of bifurcated economy and what
• 24:52
  Speaker 2: I've been seeing is, you know, in previous eras, it's
• 24:54
  Speaker 2: not like the stock market was perfectly predictive of the
• 24:57
  Speaker 2: well being of the average American.
• 24:59
  Speaker 4: But you that was at least some sort of correlation.
• 25:02
  Speaker 2: Now it seems to be a reverse indicator that the
• 25:06
  Speaker 2: better the stock market does because it is all consolidated,
• 25:09
  Speaker 2: concentrated into these AI tech companies, the better the stock
• 25:14
  Speaker 2: market does, the more that the average American suffers, because
• 25:18
  Speaker 2: what they're being rewarded for with these AI companies is
• 25:21
  Speaker 2: their ability to replace human workers. And I wonder if
• 25:25
  Speaker 2: you see it the same and how you're analyzing that impact.
• 25:28
  Speaker 9: At this point, there are two things going on. One
• 25:32
  Speaker 9: is exactly what you said, and it's a deep trend
• 25:36
  Speaker 9: which did not start with AI. It started with automation
• 25:40
  Speaker 9: robotics already more than forty years ago. And we see
• 25:45
  Speaker 9: it in one key, very interesting number. You can take
• 25:49
  Speaker 9: the national income in the United States and ask what
• 25:53
  Speaker 9: part goes to workers and what part goes to capital income.
• 25:59
  Speaker 9: And I was a student of economics graduate school decades ago.
• 26:06
  Speaker 9: In the late seventies, we used to say that the
• 26:09
  Speaker 9: share that would go to workers was about two thirds
• 26:14
  Speaker 9: of the total national income. Now just the most recent
• 26:19
  Speaker 9: data puts it at about fifty percent. In other words,
• 26:23
  Speaker 9: it's gone from abouto point six five too point five.
• 26:28
  Speaker 9: That is a big deal. What's happening is more and
• 26:32
  Speaker 9: more of the national income that's produced is going to profits,
• 26:37
  Speaker 9: is going to corporate earnings, is going to rents, to
• 26:42
  Speaker 9: ownership of patents and so forth. And what workers get
• 26:48
  Speaker 9: is absolutely falling as a share. But for a great
• 26:54
  Speaker 9: part of our society, what workers get is falling in
• 26:57
  Speaker 9: absolute TERMSI I will speed that up. Artificial intelligence substitutes
• 27:06
  Speaker 9: these algorithms for human labor, and whatever anyone says, this
• 27:13
  Speaker 9: is a process that's been going on for decades, and
• 27:16
  Speaker 9: wages are stagnant or falling for those segments of the
• 27:22
  Speaker 9: labor force where that substitution can occur. Twenty let's say,
• 27:27
  Speaker 9: thirty years ago, it was people on the assembly line.
• 27:30
  Speaker 9: Those jobs didn't go to China. Those jobs went to
• 27:33
  Speaker 9: the robots. Now the jobs are going to claud and
• 27:38
  Speaker 9: to others. And this is happening actually with a new swath.
• 27:43
  Speaker 9: We know it's with the college graduates this year. They're
• 27:47
  Speaker 9: not finding jobs when they come out, and this is
• 27:51
  Speaker 9: showing up as this shift of national income. The second
• 27:55
  Speaker 9: thing that's happening, I think most likely this is always
• 28:01
  Speaker 9: a judgment that only can be made X post, is.
• 28:04
  Speaker 8: That we really have a bubble. We really have the
• 28:07
  Speaker 8: Elon Musk thrill.
• 28:08
  Speaker 9: That we got the gazillion dollar companies and the trillion
• 28:13
  Speaker 9: dollar man and all the rest. I see no way
• 28:18
  Speaker 9: personally that the valuations that are being put on a
• 28:22
  Speaker 9: big tech and on the IPOs can in any way
• 28:26
  Speaker 9: be justified. Because one of the core features of these
• 28:31
  Speaker 9: technologies is that they diffuse. There really is competition. There
• 28:36
  Speaker 9: isn't somehow control by the first mover. China runs AI
• 28:43
  Speaker 9: on an open source stack because it's trying to compete
• 28:47
  Speaker 9: with the United States, so it's trying to get users
• 28:49
  Speaker 9: all over the world. That means there's going to be
• 28:52
  Speaker 9: a lot of open source ways to access this very
• 28:56
  Speaker 9: powerful technology. And all these huge, huge revenues that are
• 29:02
  Speaker 9: being anticipated by these companies that are now fifty times
• 29:08
  Speaker 9: earnings or one hundred times earnings or infinite because there
• 29:10
  Speaker 9: are no earnings, I don't think this is going to
• 29:13
  Speaker 9: materialize in the way that is expected. So on top
• 29:17
  Speaker 9: of the fundamental shift towards profits, which I think is
• 29:21
  Speaker 9: real and deep, there's also I think a financial bubble
• 29:26
  Speaker 9: that is underway.
• 29:30
  Speaker 3: Professor, When we zoom out a bit again looking to
• 29:32
  Speaker 3: your own work and what you've looked at in the classroom.
• 29:35
  Speaker 3: What are the parallels in history to these types of forces,
• 29:38
  Speaker 3: to people coming out in the workforce in the midst
• 29:41
  Speaker 3: of great technological change of a great amount of wealth,
• 29:44
  Speaker 3: concentrated and potentially bubble assets.
• 29:47
  Speaker 1: What does that look like and manifest in a society.
• 29:51
  Speaker 9: Well, this has happened repeatedly. These technologies we call GPT
• 29:57
  Speaker 9: general purpose technologies, which means something like the steam engine,
• 30:02
  Speaker 9: which was the great invention of two hundred and fifty
• 30:06
  Speaker 9: years ago, created the factory world, and not just in
• 30:12
  Speaker 9: one sector but across the economy, and it created the
• 30:15
  Speaker 9: railroad and many other things. Electrification was a general purpose technology.
• 30:22
  Speaker 9: AI is a general purpose technology, an extraordinarily powerful one
• 30:27
  Speaker 9: in my view. I don't believe it's hyped. I think
• 30:30
  Speaker 9: it's amazing and real. But what you find with general
• 30:34
  Speaker 9: purpose technologies is that generally they raise overall output in
• 30:40
  Speaker 9: the economy, but dramatically redistribute the output as well. In
• 30:47
  Speaker 9: the first Industrial Revolution, with the steam engine, there were
• 30:52
  Speaker 9: vast numbers of losers. The economy started to boom, especially
• 30:57
  Speaker 9: in Britain, which was the first industrialized name, but those
• 31:01
  Speaker 9: masses in the Satanic mills, these were women and children,
• 31:06
  Speaker 9: who used to have jobs in rural areas, for instance,
• 31:11
  Speaker 9: spinning yarns. All of that went away with mechanization. They
• 31:15
  Speaker 9: ended up as degraded workers. And it was exactly that
• 31:21
  Speaker 9: what we call misrization becoming more miserable that led Karl
• 31:27
  Speaker 9: Marx and Friedrich Engels to issue the Communist Manifesto in
• 31:34
  Speaker 9: the eighteen late eighteen forties. So that was real. Then
• 31:40
  Speaker 9: over time, new institutions were developed to share the increase
• 31:46
  Speaker 9: of output. Actually, Bismarck in the New German State in
• 31:53
  Speaker 9: the eighteen seventies and eighteen eighties invented public pensions as
• 31:58
  Speaker 9: a way to ensure that this booming economy would help
• 32:02
  Speaker 9: more and more people. Well, this has been a repeated phenomenon.
• 32:07
  Speaker 9: Big technological advance, the overall size of the economy increases,
• 32:15
  Speaker 9: but the way that the pie is divided in the
• 32:18
  Speaker 9: proverbial expression changes dramatically. And we're going to have that
• 32:23
  Speaker 9: with AI as well. And the American political system for
• 32:28
  Speaker 9: at least fifty years has been don't help anyone, We're
• 32:34
  Speaker 9: on our own, you know, good luck to you, and
• 32:38
  Speaker 9: in an AI era that would prove devastating. Now Trump
• 32:45
  Speaker 9: appealed to those who are suffering both in twenty sixteen
• 32:51
  Speaker 9: and twenty twenty four on a clever political messaging that
• 32:57
  Speaker 9: was fundamentally false. He said China took your jobs. He
• 33:02
  Speaker 9: said the migrants took your jobs. He didn't say technology
• 33:08
  Speaker 9: has changed how we live and redistributed the national income.
• 33:13
  Speaker 9: That is the right answer. There are no jobs coming
• 33:18
  Speaker 9: back from China. By the way, I go to Chinese
• 33:20
  Speaker 9: factories all the time. They don't have workers in them
• 33:22
  Speaker 9: anymore because they're all automated. There aren't jobs coming back
• 33:27
  Speaker 9: from China. What we have is a technological revolution, basically
• 33:33
  Speaker 9: positive actually in that we can do more, We can
• 33:37
  Speaker 9: be more clever, we can have more sophisticated drug discovery
• 33:42
  Speaker 9: or better healthcare diagnostics or many other things.
• 33:48
  Speaker 8: But it's not going to fall equally.
• 33:50
  Speaker 9: It's going to miserize part of our society unless we
• 33:55
  Speaker 9: actually decide for the first time in more than half
• 33:58
  Speaker 9: a century, to act like a society rather than to
• 34:02
  Speaker 9: act like a group of individuals out in a brutal
• 34:06
  Speaker 9: competition with each other. But we don't even have that
• 34:09
  Speaker 9: kind of understanding in our political discourse right now. But
• 34:13
  Speaker 9: the AI is moving forward relentlessly with or without it,
• 34:17
  Speaker 9: and by the way the number of meetings every day
• 34:22
  Speaker 9: in every sector talking about loss of jobs, reshuffling of
• 34:26
  Speaker 9: the workforce. This is happening everywhere right now, and we
• 34:31
  Speaker 9: don't have any public policy framework, and we won't under Trump.
• 34:36
  Speaker 8: This is something way beyond him.
• 34:39
  Speaker 2: I think we do have a public policy framework under Trump.
• 34:42
  Speaker 2: Rather than going in the direction of making sure that
• 34:44
  Speaker 2: people will not be e miserated, what they've done is
• 34:48
  Speaker 2: you mentioned earlier that you want to dramatically increase. He's
• 34:50
  Speaker 2: already increased the defense budget dramatically, but he wants to
• 34:53
  Speaker 2: up it even further. And then we've also seen this
• 34:55
  Speaker 2: tremendous increase in the domestic law enforcement budget and an
• 34:59
  Speaker 2: emphasis on mass surveillance, et cetera. So it seems like
• 35:03
  Speaker 2: the direction they want to go in is a sort
• 35:05
  Speaker 2: of crackdown, authoritarian crackdown to make sure that there if
• 35:09
  Speaker 2: they're unhappy, are not going to have the ability or
• 35:11
  Speaker 2: will be too afraid to get out of line.
• 35:15
  Speaker 1: But that's exactly right.
• 35:16
  Speaker 9: But I would just add one more point to that,
• 35:18
  Speaker 9: which is that specifically the surveillance state and specifically the
• 35:23
  Speaker 9: war economy are big business, precisely for the AI industry.
• 35:29
  Speaker 9: So It's not only incidental that they want to crack down.
• 35:32
  Speaker 9: These are gold mines for them, more war phenomenal. Look
• 35:37
  Speaker 9: at the biggest booming stock market in the world right
• 35:40
  Speaker 9: now is Israel, because it's basically a war machine. It's
• 35:44
  Speaker 9: basically a surveillance, intelligence, and military machine. So war is
• 35:50
  Speaker 9: good for the not for the stock market.
• 35:53
  Speaker 2: For the stock market, Well, do you see the introduction
• 35:58
  Speaker 2: of AI. As you mentioned before, we've had general purpose
• 36:01
  Speaker 2: technologies introduced before.
• 36:04
  Speaker 4: You know, they over time.
• 36:06
  Speaker 2: Once you had a transition, they benefited I think the
• 36:09
  Speaker 2: population overall, although there are some that may dispute that,
• 36:12
  Speaker 2: but the difference may be twofold. Number one, how quickly
• 36:17
  Speaker 2: AI has been developed and is being disseminated.
• 36:21
  Speaker 4: And number two.
• 36:22
  Speaker 2: You know, previous general purpose technologies were meant to replace,
• 36:26
  Speaker 2: like the horse for example. This is explicitly meant to
• 36:29
  Speaker 2: replace human beings, and the developers of it will tell
• 36:32
  Speaker 2: you that and tell you things like we intend to
• 36:34
  Speaker 2: make all of human labor irrelevant, human beings effectively irrelevant
• 36:39
  Speaker 2: to you know, productivity, growth and economic output, et cetera.
• 36:43
  Speaker 4: So do you see it as a more grave threat.
• 36:47
  Speaker 2: To the you know, the prosperity and happiness of mankind
• 36:52
  Speaker 2: than previous general purpose technologies.
• 36:55
  Speaker 9: Well, it's happening so much faster than anything else. And
• 37:00
  Speaker 9: we have metrics which we call adoption rates, how long
• 37:04
  Speaker 9: does it take a certain number of users to use
• 37:06
  Speaker 9: the technology. And we've never seen anything like what we
• 37:10
  Speaker 9: have Right now, Chat ept is announced and within weeks
• 37:15
  Speaker 9: it's one hundreds of millions of users worldwide. So we're
• 37:18
  Speaker 9: seeing something that is happening completely at an unprecedented scale,
• 37:25
  Speaker 9: and I think that that will continue. In terms of
• 37:30
  Speaker 9: what it means for human well being, there are two issues.
• 37:35
  Speaker 9: One issue is the distributional issue that we say gainers
• 37:43
  Speaker 9: economically could compensate those who lose because the overall pie
• 37:48
  Speaker 9: grows elon mosk. You know, it doesn't really need a
• 37:52
  Speaker 9: trillion dollars of personal network or whatever, six hundred or
• 37:55
  Speaker 9: seven hundred billion, I didn't check this morning.
• 37:58
  Speaker 8: It doesn't need that.
• 38:00
  Speaker 9: If we actually distributed well being in our country, we
• 38:04
  Speaker 9: could have a broader gain. Then there's the meaning of
• 38:09
  Speaker 9: life and the meaning of work question, which is that
• 38:12
  Speaker 9: these technologies in a fair society would mean less work.
• 38:20
  Speaker 9: The robots can do physical labor and the AI can
• 38:25
  Speaker 9: do cognitive work of various kinds. Is that a good
• 38:29
  Speaker 9: thing in principle? Again, if it's done thoughtfully, it could
• 38:35
  Speaker 9: very well be a good thing, because we would have
• 38:38
  Speaker 9: more time for friends, for family, for leisure, for culture,
• 38:42
  Speaker 9: for exploration, for other things. If the drudge work is
• 38:48
  Speaker 9: actually carried out mechanically so per se earlier technologies. It's
• 38:57
  Speaker 9: not true that they've always created new jobs to replace
• 39:00
  Speaker 9: the old jobs. We actually work less hours per day
• 39:05
  Speaker 9: on average than one hundred years ago by far. As
• 39:09
  Speaker 9: a matter of fact, the numbers are quite astounding. The
• 39:14
  Speaker 9: average work time of an adult American is about three
• 39:20
  Speaker 9: hours twenty minutes at this point something like that. That's
• 39:25
  Speaker 9: for an economy of a thirty trillion dollar output. Now
• 39:30
  Speaker 9: that counts weekend time, that counts retirement time, that counts
• 39:34
  Speaker 9: time in school, that counts vacation time, leisure time, and
• 39:39
  Speaker 9: so on. But the point is, we don't work like
• 39:42
  Speaker 9: our grandparents and great grandparents did. They worked not only
• 39:46
  Speaker 9: at physical labor, but they worked round the clock, maybe
• 39:49
  Speaker 9: six days a week. And this is a big change.
• 39:53
  Speaker 9: And on the whole I believe it's a plus. But
• 39:56
  Speaker 9: American society, as we've been discussing, is quite distinctive it's
• 40:02
  Speaker 9: barely a society. Our political system is so corrupted it's
• 40:07
  Speaker 9: not regarded as a society. It's regarded as a group
• 40:10
  Speaker 9: of particular interests, of which Silicon Valley itself is interest
• 40:15
  Speaker 9: group number one. It's more powerful than every other interest group,
• 40:20
  Speaker 9: partly because the generals are desperate for this technology. The military,
• 40:25
  Speaker 9: the government has put its hands into Palenteers more important
• 40:31
  Speaker 9: than the rest of our government. They're watching everything we do.
• 40:35
  Speaker 9: They're building the surveillance state. So in this sense, we
• 40:40
  Speaker 9: have a political and ethical problem that's quite fundamental in
• 40:44
  Speaker 9: this country. And again with this current gang these are gangsters.
• 40:51
  Speaker 9: They're not in any way, shape or form even remotely
• 40:56
  Speaker 9: aware or interested in these questions used always.
• 41:02
  Speaker 2: Sir, Yeah, I went in a different direction in the
• 41:04
  Speaker 2: segment than I expected, but a really fascinating discussion, professor.
• 41:07
  Speaker 2: Thank you so much for your time and analysis.
• 41:09
  Speaker 1: As always, thank you, sir, good see you soon.
• 41:14
  Speaker 3: Turning down to America's two hundred and fiftieth birthday, let's
• 41:18
  Speaker 3: go ahead and start with what a disaster it seems
• 41:21
  Speaker 3: the celebration will be. Let's put see two up there
• 41:24
  Speaker 3: on the screen from Trump. I understand artists are getting
• 41:27
  Speaker 3: the Yips having to do their performance on Wet's Day.
• 41:30
  Speaker 3: So I am thinking about bringing the number one attraction
• 41:33
  Speaker 3: anywhere in the world. The man who gets much larger
• 41:36
  Speaker 3: audiences than Elvis in his prime does so without a guitar.
• 41:39
  Speaker 3: The man who loves our country more than anyone else.
• 41:41
  Speaker 3: The man who some say is the greatest president in history.
• 41:44
  Speaker 3: The goat Donald J. Trump to take the place of
• 41:48
  Speaker 3: these highly paid third rate artists and give a major
• 41:51
  Speaker 3: speech rallying the country forward like I have done ever
• 41:54
  Speaker 3: since being president. And he goes on to, you know,
• 41:57
  Speaker 3: basically talk about why he's so fantastic.
• 42:00
  Speaker 1: This comes on the heels of C three.
• 42:02
  Speaker 3: Let's put this up here on the screen after many
• 42:05
  Speaker 3: of the some say second.
• 42:07
  Speaker 1: Rate artists actually no by trumpson admission.
• 42:09
  Speaker 3: Third rate artists that were announced as the featured performers
• 42:13
  Speaker 3: for Freedom two hundred and fifty the Great American State
• 42:15
  Speaker 3: Fair have dropped out, including Martina McBride, Young mc Millie, Vanilli,
• 42:22
  Speaker 3: the Commodores, Morris Day and The Time, and Brett Michaels.
• 42:27
  Speaker 3: It seems that Vanilla, Ice, Flow Rider and C plus
• 42:30
  Speaker 3: C Music Factory will remain. I will confess I did
• 42:34
  Speaker 3: not know who any of these people were except for
• 42:38
  Speaker 3: Vanilla Ice and flow Rider.
• 42:40
  Speaker 2: Okay, let me just say the most shocking part of
• 42:43
  Speaker 2: this whole story is that I had to explain to
• 42:45
  Speaker 2: both Sager and Mac who Millie Vanilli was. I don't
• 42:48
  Speaker 2: have a clue, and the whole controversy surrounding how you
• 42:52
  Speaker 2: know they were these hit artists and then it turns
• 42:54
  Speaker 2: out they were just lip syncing.
• 42:55
  Speaker 1: It was all.
• 42:56
  Speaker 4: It was a big thing.
• 42:57
  Speaker 2: So it was humiliating when they announced that, Evenilly, who's
• 43:00
  Speaker 2: literally like a fake artist who is going to be performing,
• 43:04
  Speaker 2: And then even more humiliating when Milli Vanilly was like.
• 43:07
  Speaker 1: Nah, he's like too good for this. We're good, We're
• 43:10
  Speaker 1: not doing this.
• 43:11
  Speaker 2: I mean yeah, And I love I also love how
• 43:14
  Speaker 2: Trump is like just out and out announcing like, yeah,
• 43:16
  Speaker 2: I'm going to do the same old shit that I
• 43:18
  Speaker 2: always do, as I've done, you know, give another speech,
• 43:20
  Speaker 2: as I've done since I began to lead the country,
• 43:23
  Speaker 2: or whatever it is that he said, like, yeah, it's
• 43:25
  Speaker 2: not going to be a special day and soccer. I
• 43:27
  Speaker 2: feel like, you know, another president that hasn't made the
• 43:32
  Speaker 2: office of the presidency all about them, you know, building
• 43:36
  Speaker 2: monuments and putting their name on everything, and you know,
• 43:39
  Speaker 2: instituting loyalty tests for literally every single position in the administration.
• 43:43
  Speaker 2: Another president, you could imagine you helping to put together
• 43:47
  Speaker 2: a celebration like this that would feel non political, where
• 43:50
  Speaker 2: you could have artists that have a different political ideology
• 43:53
  Speaker 2: that still feel comfortable because they're like, it's not a
• 43:55
  Speaker 2: celebration of this one man, it's a celebration of the country,
• 43:58
  Speaker 2: and it's a celebart two hunred and fifty years. Okay,
• 44:00
  Speaker 2: we can do this, and I'm sure all the other
• 44:02
  Speaker 2: celebrations that we've had for the centennial and the Bison
• 44:05
  Speaker 2: Telli or whatever were like that. But because Trump has
• 44:09
  Speaker 2: this authoritarian tendency to personalize everything about the office and
• 44:14
  Speaker 2: make it all about himself, it is impossible to participate
• 44:18
  Speaker 2: an event like this without low key endorsing Trump and
• 44:23
  Speaker 2: what Trump is all about, or getting used for his
• 44:27
  Speaker 2: spectacle and self aggrandizement. And of course this is all
• 44:30
  Speaker 2: being hosted like around his own personal birthday, so that
• 44:32
  Speaker 2: doesn't help the matter either.
• 44:33
  Speaker 3: Yeah, it's actually funny to back up your point. Let
• 44:36
  Speaker 3: Matt Walsh do the talking. Let's put C four up
• 44:39
  Speaker 3: there on the screen as we like to do as
• 44:41
  Speaker 3: we like to do. I'm actually pretty pissed at how
• 44:44
  Speaker 3: badly they've bungled America two fifty. First they tried to
• 44:47
  Speaker 3: invite Millie Vanilli in a bunch of other absurdly washed
• 44:50
  Speaker 3: up geriatric one hit wonders. Then when that didn't work,
• 44:54
  Speaker 3: they decided to convert the event into a Trump rally. Well,
• 44:56
  Speaker 3: Trump will talk about himself for ninety minutes. This should
• 44:59
  Speaker 3: have been a man sive, raucous celebration of the country
• 45:02
  Speaker 3: in its two hundred and fifty history. Will now it
• 45:04
  Speaker 3: will be a political rally identical to the ten million
• 45:07
  Speaker 3: other ones that we have already seen.
• 45:09
  Speaker 1: I completely agree Matt Walsh.
• 45:12
  Speaker 3: But I was doing some ruminating this morning, and I
• 45:14
  Speaker 3: was thinking a little bit about about why. You know,
• 45:17
  Speaker 3: in some ways it's fitting. So the last major celebration
• 45:20
  Speaker 3: that we had was the bi centennial in nineteen seventy six,
• 45:24
  Speaker 3: and I actually think if you think back to that time,
• 45:27
  Speaker 3: nineteen seventy six was a very bad year. We were
• 45:29
  Speaker 3: coming off the heels of losing the war in Vietnam.
• 45:32
  Speaker 3: This was the beginning of like the Carter Stagflation era.
• 45:36
  Speaker 3: There was a deep amount of questioning in the United States,
• 45:39
  Speaker 3: it's like, who are we were this great superpower that
• 45:43
  Speaker 3: seems to have run a mock We have no idea
• 45:45
  Speaker 3: what we're doing. Internally, there was the weather underground, there
• 45:48
  Speaker 3: was all this insanity, bombings all across the United States,
• 45:52
  Speaker 3: the new left kind of air. That Democratic Party doesn't
• 45:55
  Speaker 3: know what it is. Even the Republican Party itself is
• 45:58
  Speaker 3: like going through the gold Water Revolution and the falling
• 46:01
  Speaker 3: apart and the New Deal and so look, I mean,
• 46:04
  Speaker 3: you know, we can feel very pessimistic about where the
• 46:07
  Speaker 3: country is, but things ended up being okay, at least
• 46:09
  Speaker 3: in the eighties and the nineties, and so I don't know.
• 46:11
  Speaker 3: I mean, it does seem as if the bi centennial
• 46:13
  Speaker 3: and the you know what is it, the America two
• 46:15
  Speaker 3: fifty will share at least some of the DNA of
• 46:18
  Speaker 3: all of that. But you're not wrong in terms of
• 46:20
  Speaker 3: Trump himself making it Trump making it about himself. I
• 46:23
  Speaker 3: also think it's a reflection of the country. You know,
• 46:26
  Speaker 3: I was looking. The one that actually will shock everybody
• 46:30
  Speaker 3: is the centennial, the centennial of the United States and
• 46:33
  Speaker 3: even America one fifty. If you go back and you
• 46:36
  Speaker 3: look at the way that people talk and celebrated in
• 46:39
  Speaker 3: nineteen twenty six. The amount of reverence the Americans average
• 46:43
  Speaker 3: everyday Americans had for the founding Fathers. They could tell
• 46:46
  Speaker 3: you not only they could probably recite, you know, significant
• 46:49
  Speaker 3: portions of the Constitution, of the Declaration of Independence. They
• 46:52
  Speaker 3: could tell you a lot about America's founding fathers, about
• 46:55
  Speaker 3: the Federalist papers and more.
• 46:56
  Speaker 1: I'm talking about everyday school children being able to do so.
• 46:59
  Speaker 3: Even putting George Washington, you know, he was celebrated during
• 47:02
  Speaker 3: the America one fifty.
• 47:03
  Speaker 1: We're very, very far apart from that. It's not just
• 47:05
  Speaker 1: about being divided.
• 47:06
  Speaker 3: It's just like you know, we talk about screens a
• 47:08
  Speaker 3: lot of the social disconnection and other things that we
• 47:10
  Speaker 3: have here in the nation. So it does actually seem
• 47:13
  Speaker 3: quite fitting. Trump was elected here in twenty twenty four,
• 47:17
  Speaker 3: which is a sign of a crazy country. I think
• 47:19
  Speaker 3: we can all at least say some of us can
• 47:21
  Speaker 3: admit now. And so this is, you know, in many ways,
• 47:24
  Speaker 3: we get, we get what we deserve, and in particular
• 47:27
  Speaker 3: it's here is Trump now for his birthday celebration, ostensibly
• 47:31
  Speaker 3: for freedom two fifty. Let's go ahead and put this
• 47:34
  Speaker 3: video E C one please on the screen. Trump is
• 47:38
  Speaker 3: now turning the White House into a UFC stadium to
• 47:42
  Speaker 3: celebrate his eightieth birthday. Again, it's UFC two to fifty,
• 47:45
  Speaker 3: so ostensibly it's for the two hundred and fifty. At
• 47:48
  Speaker 3: Birthday of America, we'll have some five thousand spectator. I
• 47:52
  Speaker 3: love that they threw some of this into the reflecting
• 47:54
  Speaker 3: pool and the East Wing and the you know, the
• 47:56
  Speaker 3: rose garden and all these other crazy things.
• 47:58
  Speaker 1: The stadium being built with a White House lawn.
• 48:02
  Speaker 2: By the way, the contract I can't remember which outlet
• 48:05
  Speaker 2: did some digging. The contract for painting the reflecting pool
• 48:08
  Speaker 2: this blue color or whatever, of course went to some
• 48:11
  Speaker 2: Trump aligned contractor, and the profit Margins are in a
• 48:15
  Speaker 2: no bid contract act with the Profit Margins. Yes, that escalated,
• 48:20
  Speaker 2: so so yeah, you know, even in all of this,
• 48:23
  Speaker 2: of course, it's got to be got to be peppered
• 48:26
  Speaker 2: with some Trumpian corruption too. It wouldn't be a celebration
• 48:28
  Speaker 2: of Trump's birthday without some Trumpian corruption.
• 48:30
  Speaker 3: I got no hate to the UFCU, but let's all
• 48:33
  Speaker 3: be honest, Like we're gonna have shirtless dudes and gladiator
• 48:36
  Speaker 3: fights of the White House.
• 48:36
  Speaker 1: Lawn, Like what are we doing here?
• 48:38
  Speaker 3: Like it's ridiculous and to use and to turn the
• 48:41
  Speaker 3: White House again the south lawn of the White House
• 48:44
  Speaker 3: of the United States. This is a place for garden
• 48:46
  Speaker 3: parties or for you know, I can't even say the
• 48:50
  Speaker 3: Easter egg roll, right, Like, these are the types of
• 48:52
  Speaker 3: events they're supposed to be happening here. To turn it
• 48:54
  Speaker 3: into an explicitly like politically aligned who could say it's
• 48:57
  Speaker 3: not come on, Dana White, he is like the original
• 48:59
  Speaker 3: Trump's and then to turn it into some major spectacle
• 49:02
  Speaker 3: which will all be broadcast. I believe on paramount plus
• 49:06
  Speaker 3: that Trump aligne right right, Yeah, in terms of what
• 49:09
  Speaker 3: we're talking about here, we're talking about tens of millions
• 49:11
  Speaker 3: of dollars that are being spent with the gigantic arena.
• 49:13
  Speaker 3: Call me a buzzkill, don't care because it's all you know,
• 49:17
  Speaker 3: put in the veneer of it's all about Trump himself
• 49:20
  Speaker 3: and America two fifty. So I'm just look, all I
• 49:22
  Speaker 3: can say is I'm trying to take a step back
• 49:24
  Speaker 3: and say, yeah, the bi centennial, it was a bad
• 49:26
  Speaker 3: year two so it's not you know, like even though
• 49:28
  Speaker 3: these are supposed to have some sort of reverence and
• 49:31
  Speaker 3: all this, like I think we'll be all right in
• 49:33
  Speaker 3: the end of it.
• 49:34
  Speaker 1: But yeah, it made me sad. I actually made me sad.
• 49:37
  Speaker 3: It's looking at the original one, the one hundred and
• 49:39
  Speaker 3: fiftieth birthday, and just looking at the way that they
• 49:41
  Speaker 3: celebrated that at the time, and their genuine reverence for
• 49:45
  Speaker 3: the founding and like the intellectual backbone of the nation.
• 49:49
  Speaker 3: I have a nineteen oh three at list in my house,
• 49:52
  Speaker 3: which was printed by the Philadelphia Inquirer. I found at
• 49:55
  Speaker 3: a bookstore, antique bookstore. The level of time and effort
• 50:01
  Speaker 3: that they spent on the founding history of the United States,
• 50:03
  Speaker 3: of the myth, the origins and all that. And yes
• 50:06
  Speaker 3: it has many problems, none of which were acknowledged in
• 50:08
  Speaker 3: the atlas. I will definitely grant you that. But it
• 50:11
  Speaker 3: was clear to me, and you're actually well fingered. You
• 50:13
  Speaker 3: could see some of the original owners. They spend a
• 50:15
  Speaker 3: lot of time on this section. The amount of time
• 50:17
  Speaker 3: that people spent and actually wanted to celebrate the founding
• 50:20
  Speaker 3: in the birth of the nation at the one hundred and
• 50:22
  Speaker 3: fiftieth birthday, or even at that time. I'm talking about
• 50:24
  Speaker 3: nineteen oh three, it would shock the average you know,
• 50:27
  Speaker 3: young person, I think today and so That's that's really
• 50:30
  Speaker 3: what depresses me is we're gonna have gladiator fights like
• 50:32
  Speaker 3: literal bread and circus, and yeah, within their bread without
• 50:37
  Speaker 3: the bread. You're right, because everything is so ridiculously expensive.
• 50:40
  Speaker 3: Anybody else driving July fourth, I'm excited to see how
• 50:44
  Speaker 3: expensive gas is all the way up the I ninety
• 50:46
  Speaker 3: five corridor.
• 50:48
  Speaker 1: That that's what you know.
• 50:49
  Speaker 3: Kind of it really sticks with me is the cultural reflection,
• 50:53
  Speaker 3: because this is who we are. We are the UFC, right,
• 50:55
  Speaker 3: we are the UFC on the South Line. We are
• 50:57
  Speaker 3: in the social media era, no reverence for education, for
• 51:01
  Speaker 3: our founding to even talk or to feel excited.
• 51:03
  Speaker 1: About where the nation is going.
• 51:05
  Speaker 3: The only thing I can console myself with is that's
• 51:07
  Speaker 3: kind of how the bi centennial was too. Nineteen seventy six.
• 51:10
  Speaker 3: You know, you don't have to read a book to
• 51:12
  Speaker 3: know it was a horrible year and there were a
• 51:13
  Speaker 3: lot of a lot of same questions I think swirling
• 51:16
  Speaker 3: in the air.
• 51:16
  Speaker 1: We got through it. I'm sure we'll get through it now.
• 51:19
  Speaker 3: But I think it's a genuine reflection of who we are,
• 51:21
  Speaker 3: I really do, from the artists, to our culture, to
• 51:24
  Speaker 3: the UFC.
• 51:25
  Speaker 1: To I agree himself.
• 51:26
  Speaker 2: I mean those images are too perfect. I saw somebody
• 51:29
  Speaker 2: say that the White House now looks like a six,
• 51:32
  Speaker 2: like a shuttered six flags that they're destroying because between
• 51:36
  Speaker 2: the you know, UFC cage or whatever that's being constructed,
• 51:39
  Speaker 2: that looks like a roller coaster, defunct roller coaster to
• 51:42
  Speaker 2: one entire side just being complete in total rubble. As
• 51:46
  Speaker 2: Trump constructs his ballroom bunker slash military hospital, which which
• 51:52
  Speaker 2: he's obsessed with, I mean, he's truly obsessed with. Like
• 51:54
  Speaker 2: this is not just a liberal talking point.
• 51:56
  Speaker 4: I think it was.
• 51:57
  Speaker 2: The Washington Post did an analysis of all the things
• 52:00
  Speaker 2: that he's said recently, and the thing that he brings
• 52:03
  Speaker 2: up the most is the freaking ballroom. He talks about
• 52:06
  Speaker 2: that certainly more than gas prices, inflation, the I don't.
• 52:10
  Speaker 4: Know, the war in Iran, the ballroom.
• 52:13
  Speaker 2: And I think a big part of it is actually
• 52:15
  Speaker 2: the military hospital seems to be a particular fixation now
• 52:19
  Speaker 2: because he, like many you know, absolute narcissistic people, is
• 52:24
  Speaker 2: obsessed with his own longevity and like imagines that he's
• 52:27
  Speaker 2: going to live forever and sort of rain over us
• 52:30
  Speaker 2: for eternity from this impenetrable bunker that he is constructing.
• 52:35
  Speaker 2: But you know, he feels the need to build these
• 52:39
  Speaker 2: monuments and celebrations to himself. I think it's embarrassing anytime
• 52:42
  Speaker 2: an adult like demands other adults celebrate their birthday, Like
• 52:45
  Speaker 2: that's just to me an embarrassing thing to do. And
• 52:48
  Speaker 2: he's demanding the entire freaking world celebrate his own birthday.
• 52:53
  Speaker 2: That is a real insight into his ego. But he
• 52:55
  Speaker 2: feels the need to build these monuments and host these
• 52:59
  Speaker 2: celebrations to himself because I think he's very fearful that
• 53:04
  Speaker 2: at the end of his life he won't be celebrated
• 53:07
  Speaker 2: in the way that he has always craved that in
• 53:10
  Speaker 2: the end, the consensus opinion will be that he and
• 53:13
  Speaker 2: his presidency was an absolute disaster.
• 53:17
  Speaker 4: For the United States.
• 53:18
  Speaker 2: So he's trying to leave these impressions in stone, you know,
• 53:21
  Speaker 2: with his monuments and his name on this and name
• 53:24
  Speaker 2: on that, and physically remaking the White House itself as
• 53:27
  Speaker 2: a sort of cheat code to leave his mark on
• 53:31
  Speaker 2: the world. But yeah, you're right, it looks exactly like
• 53:34
  Speaker 2: what America is today. I hope that we come through it,
• 53:37
  Speaker 2: but I do think we have some existential risks that
• 53:40
  Speaker 2: weren't present in nineteen seventy six, I mean AI being
• 53:43
  Speaker 2: the prominent one the advent of autonomous killer robots. Obviously,
• 53:49
  Speaker 2: climate change has moved quite along. We have so much
• 53:52
  Speaker 2: global instability in a nuclear armed world where nuclear proliferation
• 53:56
  Speaker 2: is only going to accelerate. I think we all believe
• 53:58
  Speaker 2: that's the logic that has been created. So we are
• 54:02
  Speaker 2: facing some truly existential risks at a time when the
• 54:05
  Speaker 2: population is you know, dumbed down on algorithmic social media
• 54:11
  Speaker 2: and reality TV.
• 54:13
  Speaker 1: Correct.
• 54:14
  Speaker 3: Last thing C six couldn't not mention this Trump is
• 54:17
  Speaker 3: currently pushing for a two hundred and fifty dollars bill
• 54:20
  Speaker 3: with his face on it Act because it will be
• 54:24
  Speaker 3: the highest I think denominated currency in terms of the bill.
• 54:28
  Speaker 3: Also a reminder that it now takes two hundred and
• 54:30
  Speaker 3: fifty bucks to buy what used to cost.
• 54:32
  Speaker 1: One hundred dollars. So there you go.
• 54:35
  Speaker 3: Also a great reminder of what America two fifty is
• 54:38
  Speaker 3: all about?
• 54:38
  Speaker 1: Two hundred and fifty bucks.
• 54:40
  Speaker 3: You know, anybody else going to the grocery store recently
• 54:43
  Speaker 3: and again just being like what what.
• 54:44
  Speaker 1: Forget about it?
• 54:45
  Speaker 3: You're looking to get away two hundred and fifty dollars. Yeah,
• 54:48
  Speaker 3: for the last five years, every single time you go.
• 54:50
  Speaker 3: It just ticks up and up and up. Now I'm
• 54:53
  Speaker 3: researching how to learn how to make my own kids
• 54:56
  Speaker 3: fruit leather. All right, this is this is where things
• 54:58
  Speaker 3: are now. All Right, we got Brandon and Wiger standing by.
• 55:02
  Speaker 1: Let's get to it.