Latest / Yaron Brook Show / US vs. China; Hating AI; Trump Slush Fund; Texas; Iran; Short Selling | Yaron Brook Show

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US vs. China; Hating AI; Trump Slush Fund; Texas; Iran; Short Selling | Yaron Brook Show · Yaron Brook Show

• 0:02
  Speaker 1: A lot of funds. I love, last little self interest
• 0:10
  Speaker 1: and an individual loss. This is the wrong show. Oh right,
• 0:20
  Speaker 1: everybody welcome tore One book show on this Tuesday, May nineteenth.
• 0:25
  Speaker 1: Though everybody is having a fantastic made good week. All right,
• 0:33
  Speaker 1: let's talk about what's going on in the world. So
• 0:37
  Speaker 1: I saw an article today by Victatives Hansen Victor Dives
• 0:41
  Speaker 1: Hans and the Military Story and who I've had a
• 0:46
  Speaker 1: you know, I like some of his stuff, primarily his
• 0:48
  Speaker 1: military history from the past. I don't particularly like it's
• 0:50
  Speaker 1: politics these days, and his stuff on immigration I really
• 0:54
  Speaker 1: don't like. But uh uh. He had an editorial that
• 0:59
  Speaker 1: is really good and it makes a point I've been
• 1:02
  Speaker 1: making to all of you guys for years now, but
• 1:06
  Speaker 1: I think it's an important to highlight right now. In
• 1:09
  Speaker 1: the post Trump visit to China, I mean, the tragedy
• 1:14
  Speaker 1: of Trump says that the China I mean, it's part
• 1:18
  Speaker 1: of the tragedy of Trump is that if you watch
• 1:21
  Speaker 1: that visit, and if you read about it and the
• 1:24
  Speaker 1: commentary both here and in China and everywhere else, the
• 1:29
  Speaker 1: United States looks weak. Trump looks a week the US
• 1:32
  Speaker 1: looks weak. I mean in most of the commentary is
• 1:34
  Speaker 1: about China, the rising power in America the descending power.
• 1:40
  Speaker 1: I mean, even she made a reference to that, to
• 1:43
  Speaker 1: the fact that China is ascending, and that China's ascending
• 1:55
  Speaker 1: in the United States is descending. And people are writing
• 1:59
  Speaker 1: about and looking at Trump's demeanor the way he, you know,
• 2:05
  Speaker 1: relates that she has effusive compliments. You would think that's
• 2:11
  Speaker 1: all true, that that is indeed the reality. But this
• 2:18
  Speaker 1: is what makes it so much more tragic and so
• 2:20
  Speaker 1: much more ridiculous. There is nothing true about that the
• 2:27
  Speaker 1: United States is significantly stronger in every dimension than China.
• 2:32
  Speaker 1: I mean, China does a few things right now better
• 2:36
  Speaker 1: than the United States, but who knows if that's sustainable.
• 2:41
  Speaker 1: But overall, the United States is significantly richer. It has
• 2:50
  Speaker 1: a significantly larger economy, about forty percent larger, in spite
• 2:54
  Speaker 1: of the fact that it has what a quota of
• 2:57
  Speaker 1: the population, maybe less because it's it's hard to tell,
• 3:02
  Speaker 1: maybe it's more than a quarter, because it's hard to
• 3:04
  Speaker 1: tell what the population of China actually is. Well, birth
• 3:08
  Speaker 1: rates in the United States are low, they're under replacement.
• 3:12
  Speaker 1: They are pathetic in China, which is seeing a democratic
• 3:18
  Speaker 1: democratic a demo potential demographic collapse. They're under one in China,
• 3:25
  Speaker 1: in the United States one point seven. So China demographically
• 3:31
  Speaker 1: the future is not theirs, at least in terms of
• 3:34
  Speaker 1: number of people, and they're smaller than our economy. Even
• 3:39
  Speaker 1: with that, from a perspective of GDP per capita, the
• 3:42
  Speaker 1: amount of money people actually make, the earn, and the
• 3:47
  Speaker 1: wealth they have, China is still a poor country. On average,
• 3:54
  Speaker 1: Chinese make one sixth of what Americans do now. Yes,
• 3:58
  Speaker 1: if you a for purchasing power, then they make a
• 4:02
  Speaker 1: little bit more than that, but it's still a faction
• 4:05
  Speaker 1: of what Americans do. You know, China has beautiful new airports,
• 4:14
  Speaker 1: it has great infrastructure, has fast trains. All of that
• 4:17
  Speaker 1: is true, and yet it's people live in poverty, partially
• 4:21
  Speaker 1: because the central government allocates all the resources, not the
• 4:25
  Speaker 1: marketplace and not individuals. The United States still is the
• 4:31
  Speaker 1: innovation engine of the world. China is getting better, but
• 4:35
  Speaker 1: it's still fall behind. And if you believe as I do,
• 4:40
  Speaker 1: that innovation, entrepreneurship, science, scientific breakthroughs a product of freedom,
• 4:51
  Speaker 1: the freedom to think, the freedom to act, the freedom
• 4:53
  Speaker 1: to go outside of the box and not have to
• 4:57
  Speaker 1: ask for permission, then it's likely the United States this
• 5:00
  Speaker 1: is going to continue to have that edge over China.
• 5:02
  Speaker 1: China is becoming more thoriritarian, not less, and has become
• 5:06
  Speaker 1: more theoritarian over the last ten years, not less. Now
• 5:12
  Speaker 1: the United States is not becoming freer, but even in
• 5:14
  Speaker 1: the United States, with the level of freedom today is
• 5:16
  Speaker 1: significantly dramatically freer than is China. I mean, we have
• 5:22
  Speaker 1: a lot of debt, China has more. We have a
• 5:26
  Speaker 1: housing crisis because homes are too expensive. China has a
• 5:31
  Speaker 1: collapsing real estate market because real estate has plummeted in value.
• 5:36
  Speaker 1: And the reality is that most Chinese savings were in
• 5:41
  Speaker 1: real estate before this plummeted. So, you know, China has
• 5:56
  Speaker 1: rare earth materials. We have massive reserves of oil and
• 6:03
  Speaker 1: gas and pretty much every other mineral on the planet.
• 6:08
  Speaker 1: We have rare earth materials in the United States, and
• 6:11
  Speaker 1: if we ever got serious about actually mining them and
• 6:14
  Speaker 1: producing them, we could produce them here. Allies have it.
• 6:19
  Speaker 1: Rail earth materials are not as rare as once were
• 6:22
  Speaker 1: thought at all. China can produce a lot more drones
• 6:32
  Speaker 1: than we can, but technologically, my guess is that ours
• 6:37
  Speaker 1: would be superior. We're ramping up production. Now, entrepreneurs are
• 6:42
  Speaker 1: going into that business. It's going to be really interesting
• 6:46
  Speaker 1: to see what five years from now where we stand
• 6:49
  Speaker 1: visas of each China regarding military drones. Look what Ukraine
• 6:54
  Speaker 1: did in terms of ramping up production of drones. If
• 6:58
  Speaker 1: the United States really got serious of about it, could
• 7:02
  Speaker 1: we one hundred ex Ukraine? Yeah, easily. We're one hundred
• 7:06
  Speaker 1: x richer than Ukraine if we were really serious about it.
• 7:26
  Speaker 1: And every front, the United States is just better positioned,
• 7:30
  Speaker 1: and it's a better positioned in the China, primarily because
• 7:32
  Speaker 1: it's just freer than China, and as a consequence that
• 7:37
  Speaker 1: has a greater entrepreneurial spirit. What hampers us as ourselves,
• 7:47
  Speaker 1: you know, our you know, ridiculous politicians, the policies of
• 7:52
  Speaker 1: both political parties, that the unbelievable government spending, the welfare state,
• 7:59
  Speaker 1: the regularlitary state. We are handcoffing ourselves. And yet we're
• 8:03
  Speaker 1: still freer, more innovative, and richer than China is and
• 8:07
  Speaker 1: is likely to be in the decades, in the decades
• 8:11
  Speaker 1: to come. I mean, people are really worried about the
• 8:16
  Speaker 1: Chinese military. We still spend a lot more money on
• 8:20
  Speaker 1: our military than they do on theirs a lot more.
• 8:27
  Speaker 1: The reality is that in both Venezuela, any run, their
• 8:30
  Speaker 1: technology failed. Their defense systems could not track Americans American planes.
• 8:38
  Speaker 1: We don't know of the military weapons systems that they hype,
• 8:43
  Speaker 1: how many actually functioned, how many actually worked, And if
• 8:46
  Speaker 1: you go by the number of generals that she has
• 8:49
  Speaker 1: dismissed for supposedly corruption, one has to be skeptical about
• 8:57
  Speaker 1: the ability and the preparedness of the Chinese military. The
• 9:01
  Speaker 1: US military has fought many wars, not hugely successfully, but
• 9:07
  Speaker 1: that's primarily because of political decisions, not the fault of
• 9:11
  Speaker 1: the military itself. China has fought none. We don't know
• 9:16
  Speaker 1: what they're capable of. They don't know what they're capable of.
• 9:20
  Speaker 1: But every time Western technology goes up against Chinese technology
• 9:25
  Speaker 1: on the batter front, or against Russian technology, which a
• 9:28
  Speaker 1: lot of Chinese technology at least used to be based on,
• 9:32
  Speaker 1: the US technology is by far better. So the reality
• 9:44
  Speaker 1: is the reality is that a US president should be going,
• 9:49
  Speaker 1: if at all, if he goes to Beijing, should be
• 9:51
  Speaker 1: going to Beijing with the immense confidence, with the men's
• 9:57
  Speaker 1: confidence visa be the Chinese recognizing Chinese weakness, their economy
• 10:03
  Speaker 1: is struggling, I mean really struggling. They don't have access
• 10:11
  Speaker 1: to the most advanced microprocesses in the world, and they
• 10:15
  Speaker 1: probably I mean there will catch up to some extent,
• 10:19
  Speaker 1: but probably not to the cutting edge. We have many,
• 10:26
  Speaker 1: many allies. I mean, again abstract away from Donald Trump.
• 10:32
  Speaker 1: I mean South Korea, an advanced, wealthy, technologically advanced country
• 10:39
  Speaker 1: that has an incredible shipbuilding capacity that can augment a
• 10:44
  Speaker 1: deficiency and ship building and it has manufacturing scale would
• 10:49
  Speaker 1: probably augment some of our deficiencies. There. We have Japan, Taiwan,
• 10:56
  Speaker 1: I mean really in terms of facing Vietnam, the Philippines,
• 11:02
  Speaker 1: Indonesia for all, and outside India again abstract for non
• 11:09
  Speaker 1: trop's behavior and the current Republicans. India should be a
• 11:14
  Speaker 1: massive US ally and could be. And that's just in Asia.
• 11:22
  Speaker 1: And I haven't even mentioned Australia and New Zealand. And
• 11:25
  Speaker 1: then we got Europe and potentially Canada and Mexico. I mean,
• 11:29
  Speaker 1: think about the United States positions geographically. We have amazing geography.
• 11:35
  Speaker 1: We have a friendly northern neighbor, usually a friendly southern neighbor.
• 11:41
  Speaker 1: We have access to the Atlantic, anda Pacific. We have Europe,
• 11:47
  Speaker 1: which again has dramatic flaws, but it's still has the
• 11:54
  Speaker 1: potential to exceed anything China can do. Where Israel the
• 11:59
  Speaker 1: second probably maybe the most advanced military force on the
• 12:03
  Speaker 1: planet Earth in terms of tech. Ukrainians outside and they
• 12:08
  Speaker 1: are developing some of the best rome technology in the world.
• 12:13
  Speaker 1: Think about China. China is surrounded by basically people who
• 12:19
  Speaker 1: don't like them South Korea, Japan, Taiwan, Vietnam, India, which
• 12:28
  Speaker 1: it has a conflict with, and on its western front,
• 12:31
  Speaker 1: a bunch of Muslim countries, you know, which have the
• 12:38
  Speaker 1: potential to bring Islamic terrorism right into the heart of China.
• 12:42
  Speaker 1: It's already there. It's already been there. People don't like
• 12:51
  Speaker 1: China anyway in the world. I mean right now. People
• 12:56
  Speaker 1: don't like America either. But that's Trump, I said, let's
• 12:59
  Speaker 1: abstract the way from Trump. On its northern border, it
• 13:03
  Speaker 1: does Russia. It's put in really friends with Hi. Is
• 13:09
  Speaker 1: this a marriage? It convenience? What is the relationship between
• 13:14
  Speaker 1: China and Russia. There's also a North Korea. Chinese to
• 13:19
  Speaker 1: really trust North Korea. The North Koreans really trust China.
• 13:22
  Speaker 1: Both the Russians and North Koreans have nukes. I mean
• 13:28
  Speaker 1: China is not in a great position. You know, they
• 13:31
  Speaker 1: put trillions, trillions adults into the Belt and Road initiative.
• 13:35
  Speaker 1: What has that given them? Exactly? They have some ports
• 13:39
  Speaker 1: in different places around the world. They don't have a
• 13:42
  Speaker 1: navy that can really, you know, really have an impact
• 13:47
  Speaker 1: outside of the South Asia, the South China Sea. They
• 13:56
  Speaker 1: have three aircraft carriers to America's eleven. They're submarines. That
• 14:01
  Speaker 1: I very good. H Yeah. They have a lot of drones.
• 14:06
  Speaker 1: The one thing going for them, lots of drones and
• 14:08
  Speaker 1: great electric cars. We should let them into the United States.
• 14:12
  Speaker 1: We should benefit from the cheap, good electric cars that
• 14:15
  Speaker 1: they have. But you know, they're not They're not really
• 14:21
  Speaker 1: in the competition. The United States is still by far
• 14:27
  Speaker 1: the richest, strongest. I mean, when the United States fights
• 14:32
  Speaker 1: like it didn't at the beginning of the war with Iran,
• 14:35
  Speaker 1: I mean, it's it's just unmatched. Nobody can do what
• 14:37
  Speaker 1: the United States did anyone. Nobody. Nobody has the tech,
• 14:43
  Speaker 1: nobody has the trained pilots, nobody has the aircraft carryer,
• 14:48
  Speaker 1: can project force halfway around the world. Nobody's ever done
• 14:54
  Speaker 1: it in the history of mankind. Nobody has ever done it.
• 15:02
  Speaker 1: The Belton Roade initiative is not a success for China. No,
• 15:05
  Speaker 1: what have they got to show for right, They've got
• 15:09
  Speaker 1: a they've got better trains and better roads going into
• 15:12
  Speaker 1: Pakistan and into Afghanistan and where and where else they
• 15:19
  Speaker 1: have a port in Surri Lanka would be amazing. What
• 15:29
  Speaker 1: and yes, they try to establish themselves in South America,
• 15:34
  Speaker 1: but you know this is this is America, right, We're
• 15:38
  Speaker 1: right here. We see what happened in Venezuela. South Americans
• 15:41
  Speaker 1: are not going to defy the United States to go
• 15:44
  Speaker 1: in the Chinese particularly now a South American country after
• 15:48
  Speaker 1: country after country is voting right away from leftist politics. Yes,
• 15:56
  Speaker 1: they are quite successful in sub Saharan Africa, but what
• 16:01
  Speaker 1: does that exactly give them some again, some access to resources,
• 16:05
  Speaker 1: but natural resources that we already have at home, and
• 16:08
  Speaker 1: that we can extract if we really will commit it
• 16:12
  Speaker 1: to doing it right here at home. Oh close by.
• 16:16
  Speaker 1: I mean Greenland has a lot of natural resources. Canada
• 16:19
  Speaker 1: is huge amounts of resources. I mean the railway tecks
• 16:26
  Speaker 1: go from China to the heart of Europe. Okay, so
• 16:29
  Speaker 1: there are export powerhouse, no question about it. They export
• 16:33
  Speaker 1: a lot of stuff to the world and the experts
• 16:36
  Speaker 1: have only gone up. Okay, So if that doesn't impact
• 16:42
  Speaker 1: the stand of living at home, if the Chinese is
• 16:45
  Speaker 1: not getting richer as a consequence, if the stand of living,
• 16:48
  Speaker 1: quality of life in China is not improving because of
• 16:51
  Speaker 1: this railroad to Europe, then what is the purpose of
• 16:54
  Speaker 1: the railroad? What's the point? So no, take those trillions
• 17:04
  Speaker 1: of dollars and instead of building the Belton Road initiative
• 17:09
  Speaker 1: poor those return those trillions of dollars to Chinese entrepreneurs
• 17:14
  Speaker 1: and to Chinese businesses, or reduce Chinese debt, and maybe
• 17:21
  Speaker 1: the quality of life, standup living GDP per capita wealth
• 17:24
  Speaker 1: in China increases. Then Yeah, you don't have a train
• 17:28
  Speaker 1: that goes all the way to Europe. How crucial could
• 17:33
  Speaker 1: that be? So a whole perspective on China is distorted
• 17:40
  Speaker 1: and perverse. This is yeah. I mean, it's done amazing
• 17:44
  Speaker 1: in the last thirty forty years, since nineteen seventy eight,
• 17:48
  Speaker 1: you know, the growth in China has been stunning, stunning,
• 17:54
  Speaker 1: and good for them. They've gone from one of the
• 17:56
  Speaker 1: poorest countries on planet Earth to am you know, middling
• 18:04
  Speaker 1: wealth wise country. They've got a long way to go
• 18:08
  Speaker 1: and they're not emphasis are not putting together the policies
• 18:14
  Speaker 1: that would lead them there. You're not going to become
• 18:17
  Speaker 1: rich because of central planning. They didn't get this far
• 18:20
  Speaker 1: because of central planning. They're not going to become rich
• 18:23
  Speaker 1: because of the authoritarian nature of the regime. It's indeed
• 18:30
  Speaker 1: the freedom that they allowed that made them rich. And
• 18:32
  Speaker 1: if they're clamping back on that freedom, that'll go away.
• 18:36
  Speaker 1: I mean, yes, right now, the United States isn't a
• 18:39
  Speaker 1: real is in real deep shit. That's because we managed
• 18:44
  Speaker 1: to elect an unbelievably incompetent person to be president of
• 18:49
  Speaker 1: the United States. And hopefully we'll learn a lesson. Who knows,
• 18:54
  Speaker 1: Probably not, but if we do. Oh Trump needs a
• 18:59
  Speaker 1: lot less central planning to compete. The United States needs
• 19:02
  Speaker 1: a lot less central planning to compete. God, if the
• 19:05
  Speaker 1: United States unleashed entrepreneurial spirits of Americans, If the United
• 19:09
  Speaker 1: States deregulated, eliminated all the central planning, all their regulations,
• 19:14
  Speaker 1: and all the subsidies and all the you know, the
• 19:18
  Speaker 1: picking winners and losers, and just eliminated all of that crap,
• 19:23
  Speaker 1: got rid of all of it, this economy would boom.
• 19:29
  Speaker 1: It would go faster than the Chinese economy, even given
• 19:34
  Speaker 1: its advanced state and its size. Imagine if we stop
• 19:40
  Speaker 1: hating on immigrants, if we talk taxing owned citizens for
• 19:43
  Speaker 1: the stuff they input, if we stop subsidizing losing businesses
• 19:48
  Speaker 1: and just subsidizing businesses generally, if we actually unleashed what
• 19:56
  Speaker 1: made America rich, what made America successful, which are entrepreneurs,
• 20:02
  Speaker 1: private capital, Wall Street, private allocation of capital. I mean,
• 20:12
  Speaker 1: it's unimaginable how rich and wealthy we could be trying
• 20:17
  Speaker 1: to wouldn't have a chance of catching up. I mean
• 20:22
  Speaker 1: even tho right now as we speak, who are the
• 20:25
  Speaker 1: most exciting defence companies out there building the next generation
• 20:31
  Speaker 1: of defense equipment? Well, it's Audrail, which is this company
• 20:38
  Speaker 1: built by what a twenty something year old who became
• 20:41
  Speaker 1: a billionaire while he was a teenager, I think, and
• 20:45
  Speaker 1: and is building this amazing drone company that has drone
• 20:49
  Speaker 1: submarines and drone boats and draw I mean, just just
• 20:52
  Speaker 1: an astounding Paul Maer Lucky, just an astounding entrepreneur. And
• 20:56
  Speaker 1: then there's this new company run by a twenty four
• 21:00
  Speaker 1: year old, a twenty four year old drop out from MIT,
• 21:09
  Speaker 1: who is building drones and hypersonic missiles and just bought
• 21:14
  Speaker 1: a hypersonic missile company, solid fuel missile company. Twenty four
• 21:20
  Speaker 1: years old. And Ethan something I forget his family name.
• 21:30
  Speaker 1: I met him a few weeks ago. Just an amazing
• 21:34
  Speaker 1: young entrepreneur, by the way, another Ironman fan. Just an
• 21:37
  Speaker 1: amazing entrepreneur who's building a company in his early twenties,
• 21:43
  Speaker 1: a multi billion dollar company in his early twenties. They're
• 21:49
  Speaker 1: going to change the defense industry in the United States.
• 21:52
  Speaker 1: China can't do that. So no, as down as I
• 22:00
  Speaker 1: am in the United States, as down as am on Trump,
• 22:03
  Speaker 1: as down as I am right now on what he's
• 22:06
  Speaker 1: doing in Iran, is down as am. All the corruption
• 22:08
  Speaker 1: and the scandal and just a pathetic nature of it all.
• 22:14
  Speaker 1: He should have gone. An American president should go to
• 22:16
  Speaker 1: Beijing head high, full of confidence. If go to Beijing
• 22:27
  Speaker 1: at all, as I said, March Industries, thank you, Lucretian.
• 22:32
  Speaker 1: Lucretion Objectives, says March Industries. Yes, an amazing company. Look
• 22:37
  Speaker 1: it up. Twenty four years old. So no, Ethan Thornton
• 22:45
  Speaker 1: is his name. Thank you again, Lucretian. So you know
• 22:53
  Speaker 1: us can still screw it up. I'm not saying we can't.
• 22:56
  Speaker 1: We can screw it up without any question. Yeah, and
• 23:08
  Speaker 1: China could change. But of course if China becomes freer
• 23:14
  Speaker 1: then we have nothing to fear from them. Then they
• 23:16
  Speaker 1: become a better trading partner for us and cool that
• 23:19
  Speaker 1: will only make us all richer. So there's just no
• 23:25
  Speaker 1: I just don't see any real outcome. Wait, China is
• 23:32
  Speaker 1: our problem, is a real problem. It really strikes me
• 23:37
  Speaker 1: that the only problem we have is us. Look in
• 23:40
  Speaker 1: the mirror. A problem in the United States is Trump
• 23:44
  Speaker 1: and the Democrats. Our only problem is Republicans and Democrats.
• 23:48
  Speaker 1: Other than that, we're doing great. But if we even
• 23:52
  Speaker 1: got to act together just a little bit, China is
• 23:55
  Speaker 1: not an issue. And we need to stop being so
• 23:58
  Speaker 1: uh uh, you know, pretending that they are so strong
• 24:03
  Speaker 1: and we are so weak. And the lessons to be
• 24:08
  Speaker 1: learned from you on war is not the weakness of America.
• 24:12
  Speaker 1: It's the weakness of Trump. It's not the weakness of
• 24:22
  Speaker 1: our military. It's not our inability to crush the Iranians.
• 24:28
  Speaker 1: It's Trump's desire for a deal, deal, deal, deal deal,
• 24:32
  Speaker 1: and his unwillingness to commit, and his inability is real
• 24:36
  Speaker 1: inability to think strategically. That is what hood the war
• 24:44
  Speaker 1: in Iran. That's why we are failing in Iran. It
• 24:47
  Speaker 1: has nothing to do with that capabilities, nothing to do
• 24:50
  Speaker 1: with the military strength. Those are off the charts, off
• 24:55
  Speaker 1: the charts, right, give me a second, Yeah, all right,
• 25:14
  Speaker 1: So stop worrying about China and stop worrying about America.
• 25:24
  Speaker 1: China is not gonna beat us. We might beat ourselves.
• 25:29
  Speaker 1: That's where all the focus should be. And China is
• 25:34
  Speaker 1: not a threat, not really, not if we put our
• 25:37
  Speaker 1: minds to it. Right. Uh, But here's where here's where
• 25:50
  Speaker 1: we're killing ourselves. We have this huge advantage in AI.
• 25:57
  Speaker 1: We have the best A companies in the world. They
• 26:01
  Speaker 1: are They have unbelievable amounts of resources. They've raised hundreds
• 26:07
  Speaker 1: of billions of dollars. We have the capacity to build
• 26:12
  Speaker 1: the world's data centers, the ones that will run AI
• 26:16
  Speaker 1: for everyone. We have the fastest ships microprocesses in the world,
• 26:25
  Speaker 1: designed by Americans, built in Taiwan and South Korea, but
• 26:32
  Speaker 1: designed by Americans, built with equipment from the Netherlands. All.
• 26:38
  Speaker 1: By the way, all these countries allies of the United States,
• 26:41
  Speaker 1: not of China. China's alone, I mean, as allies Russia.
• 26:46
  Speaker 1: But what can Russia do it can't help them. It
• 26:49
  Speaker 1: has lots of old nukes. That's Russia's claim to fame
• 26:53
  Speaker 1: old nukes. And yet America, not China, America is turning
• 27:02
  Speaker 1: against AI, against technology, against the future, against progress. I mean.
• 27:16
  Speaker 1: On Friday, Eric Schmidt, the CEO, the former CEO of
• 27:23
  Speaker 1: Google I gave a commencement address at the University of Arizona,
• 27:31
  Speaker 1: and he was talking about the technological transformation that is
• 27:34
  Speaker 1: coming that he thinks, given AI is going to be larger, faster,
• 27:40
  Speaker 1: and more consequential than what came before, maybe the most
• 27:45
  Speaker 1: significant technological transformation in human history. And what was the
• 27:53
  Speaker 1: response to the students when he mentioned AI? It was
• 27:58
  Speaker 1: the boot to boot And this is not old rule.
• 28:09
  Speaker 1: Americans who are petrified and who don't understand what AI
• 28:13
  Speaker 1: is and don't know what easy young people, tech savvy,
• 28:16
  Speaker 1: young people, young people who are going to be the
• 28:21
  Speaker 1: biggest beneficiaries of AIA that they are, and they're booing
• 28:28
  Speaker 1: the future, They're booing progress, they're booing technology, and they
• 28:36
  Speaker 1: are very representative of the state of America these days.
• 28:39
  Speaker 1: In poll after poll after poll, respondence overwhelmingly voicing concerns
• 28:45
  Speaker 1: about AI. It's going to increase our energy prices. It's
• 28:50
  Speaker 1: going to cause job losses, it's going to corrupt our kids.
• 28:56
  Speaker 1: It's going to destroy their education. Although how much worse
• 29:00
  Speaker 1: than the education they gave right now? I don't know
• 29:02
  Speaker 1: how how it could become much worse. Indeed, quite the opposite, right,
• 29:09
  Speaker 1: It's gonna pollute, it's gonna destroy, And indeed, the result
• 29:17
  Speaker 1: of this a protests, uh, you know, recalls of local
• 29:23
  Speaker 1: government officials, isolated acts of violence, and won't he just
• 29:29
  Speaker 1: getting started d A molotov cocktail thrown at Opening Eye
• 29:35
  Speaker 1: Chief Executives Sam Altman's home in San Francisco, threats to
• 29:42
  Speaker 1: open the Eyes offices. We've had shots fired at Indianapolis
• 29:50
  Speaker 1: councilmen who voted to approve a data center, and people
• 29:59
  Speaker 1: are voting people out who vote for the data centers,
• 30:06
  Speaker 1: and then poll after poll again. You know, a majority
• 30:09
  Speaker 1: of Americans are suspicious of AI innovation, don't want to
• 30:14
  Speaker 1: see AI innovation accelerate. A significant majority of Democrats, a
• 30:20
  Speaker 1: small majority of Republicans really worried about aim so and
• 30:39
  Speaker 1: it's not clear how politicians is going to handle this. Uh,
• 30:44
  Speaker 1: you know, uh. In in in the Senate, we've got
• 30:47
  Speaker 1: Josh Hawley the Republican wanting to pass a bill to
• 30:51
  Speaker 1: really slow down AI. We've got Pete uh what's his name? Botley,
• 30:59
  Speaker 1: the former trend Inspectation secretary, Democrat, wanting only to prove
• 31:03
  Speaker 1: AI centers if they can prove, voting a proof on
• 31:06
  Speaker 1: them that they will benefit the community. Whatever the hell
• 31:10
  Speaker 1: that means? What happened a private property? Uh? Trump supposedly
• 31:22
  Speaker 1: that trumpet demerstations floated the idea of creating a regulatory
• 31:24
  Speaker 1: agency to approve AI models in the future. Yeah, I'm
• 31:30
  Speaker 1: sure a bunch of bureaucrats are going to be good
• 31:32
  Speaker 1: at figuring out which AI models are good or not.
• 31:41
  Speaker 1: A Texas Agriculture Commission commissioner this is Republicans called for
• 31:47
  Speaker 1: a militarium on new hyper scale data center development in Texas,
• 31:54
  Speaker 1: citing concerns about costs of farmers and a drain on
• 31:57
  Speaker 1: the power good. So let's figure out how to improve
• 32:02
  Speaker 1: the power grid. The solution is, let's shut down, let's close,
• 32:05
  Speaker 1: let's and man call this. They all think they have
• 32:10
  Speaker 1: the divine right to stagnate. Divine right of stagnation. I mean,
• 32:16
  Speaker 1: if they want to stagnate, that will come to stagnate.
• 32:19
  Speaker 1: Just don't force it on me. I do not want
• 32:22
  Speaker 1: to stagnate. So yeah, now we'll see how this all
• 32:33
  Speaker 1: plays out, of course, but AI right now is one
• 32:39
  Speaker 1: of the least popular things out there. Negative attitudes are
• 32:47
  Speaker 1: growing and growing fast, and the positive attitudes are very small.
• 32:53
  Speaker 1: We've got a big section of neutral don't know, don't know,
• 32:59
  Speaker 1: not really mutual don't know. But you know, we will see.
• 33:05
  Speaker 1: We will see where it where it all goes. But
• 33:13
  Speaker 1: somebody is gonna have to come up with a with
• 33:15
  Speaker 1: with some kind of PR campaign around this. Sadly, we
• 33:18
  Speaker 1: live in a kind of democracy where the masses do
• 33:21
  Speaker 1: dictate this kind of stuff, and whether you can build
• 33:25
  Speaker 1: or not is determined by whether the masses want building
• 33:28
  Speaker 1: or not. Whether we can progress technologically is going to
• 33:32
  Speaker 1: depend on the ability to politically convince people that it's
• 33:36
  Speaker 1: good to progress. So we will see. I think a
• 33:43
  Speaker 1: lot of the AI companies are starting to worry about
• 33:46
  Speaker 1: this and starting maybe to embrace some PR campaigns around it,
• 33:56
  Speaker 1: and uh, you know, but they don't help them because
• 34:00
  Speaker 1: sam Aldman and Alone Mosque and many of the people
• 34:05
  Speaker 1: involved in the AI industry themselves are some of the
• 34:07
  Speaker 1: biggest doomsayers around AI. There are everybody's gonna lose their
• 34:11
  Speaker 1: jobs a I will turn around and kill us. All
• 34:17
  Speaker 1: that is not inspiring confidence, does not inspire confidence, all right,
• 34:28
  Speaker 1: It's time to fight for the defense of AI. I
• 34:33
  Speaker 1: think Alex Epstein is taking on this mission as part
• 34:38
  Speaker 1: of his agenda, which is great, Which is great. You
• 34:44
  Speaker 1: need exactly somebody like Alex to do this, all right.
• 34:56
  Speaker 1: Let me remind you that you get to ask questions.
• 35:00
  Speaker 1: I'll answer anything you ask, and those questions if you
• 35:05
  Speaker 1: use the super chato. Also the way in which to
• 35:06
  Speaker 1: support the show. What makes it possible for me to
• 35:11
  Speaker 1: devote the time and effort to the show and to
• 35:17
  Speaker 1: put on shows every day. So please consider asking a
• 35:21
  Speaker 1: question or doing a doing a sticker. Roland has already
• 35:26
  Speaker 1: done a sticker, so as Catherine from Europe. So thank you, guys.
• 35:31
  Speaker 1: More is that needed? Trade value for value? I produce
• 35:35
  Speaker 1: the content. You make it financially renewertures so that I'm
• 35:40
  Speaker 1: incentivized to produce the content. It takes a lot of
• 35:47
  Speaker 1: a lot of work, many many hours to put together
• 35:49
  Speaker 1: a daily show covering the news the way I do,
• 35:55
  Speaker 1: all right, So please consider value for value. Support what
• 36:00
  Speaker 1: you consume, all right? We talked yesterday about this Trump
• 36:10
  Speaker 1: slush fund, uh, the fund that is going to uh
• 36:18
  Speaker 1: make it possible for Trump supporters who feel feel like
• 36:27
  Speaker 1: they were mistreated by the Biden administration, including by the
• 36:31
  Speaker 1: way Trump supporters who stormed the Capitol and tried to
• 36:34
  Speaker 1: overturn an election and beat up Capitol police and destroyed
• 36:39
  Speaker 1: property inside inside the capital and and just generally, you know,
• 36:44
  Speaker 1: and acted a little you know, pretty pretty mellium outh
• 36:49
  Speaker 1: pathetic attempt at a coup. But that's what it was
• 36:52
  Speaker 1: who threatened the Vice president of the United States. Who
• 36:55
  Speaker 1: threatened are political leaders, including those people who are now
• 37:00
  Speaker 1: going to be able to get compensation for the fact
• 37:05
  Speaker 1: that they were found guilty in a court of law
• 37:08
  Speaker 1: of breaking American laws and went to jail for that.
• 37:12
  Speaker 1: But now they are telling us, they're telling us that, oh, no,
• 37:18
  Speaker 1: you know, they were the ones that were mistreated. And
• 37:25
  Speaker 1: as I said yesterday, there's a one point seven seven
• 37:27
  Speaker 1: six one point seven seven six billion dollar fund to
• 37:35
  Speaker 1: compensate them, right. And who will decide who gets compensated?
• 37:46
  Speaker 1: What committee a committee that ultimately Trump will have a say,
• 37:50
  Speaker 1: and who's on this committee and who's not, so Trump
• 37:54
  Speaker 1: will decide who gets the money. And Trump has not
• 37:58
  Speaker 1: rejected the idea that he would get on the money,
• 37:59
  Speaker 1: and his kids would get some on the money, and
• 38:01
  Speaker 1: the supporters, all all kinds of supporters would get some
• 38:03
  Speaker 1: of this money. Now this is in the United States
• 38:07
  Speaker 1: of America. You know, at the time of the founding,
• 38:21
  Speaker 1: one of the big issues that people people didn't like
• 38:25
  Speaker 1: about the Constitution was the pardon power power that it
• 38:31
  Speaker 1: granted the president. I mean, when Virginia convened a convention
• 38:39
  Speaker 1: to debate ratifying the Constitution in seventeen eighty eight, Virginians
• 38:48
  Speaker 1: were worried. Jeorge Mason, who is the primary author of
• 38:52
  Speaker 1: Virginia's own constitution, was worried that this gave this constitution
• 38:58
  Speaker 1: to gave the president of the unchecked ability genilaterally pardon criminality.
• 39:03
  Speaker 1: This was bound to be abused. James Madison, who was
• 39:10
  Speaker 1: defending the constitution, acknowledged this and said that that would
• 39:14
  Speaker 1: be a real serious abuse of power. And this is
• 39:22
  Speaker 1: what he said. There is one security in this case
• 39:25
  Speaker 1: to which gentlemen may not have adverted. If the President
• 39:32
  Speaker 1: be connected in any suspicious manner with any person, and
• 39:38
  Speaker 1: they be grounds to believe he will shell to him
• 39:42
  Speaker 1: the House of Representatives can impeach him, and they can
• 39:45
  Speaker 1: remove him if found guilty. So what the founder's thought is, Yeah,
• 39:53
  Speaker 1: politicians could be corrupt, they could do bad things, They
• 39:56
  Speaker 1: could use their power badly. They could use their power
• 40:00
  Speaker 1: generally badly. Bet there is a way, you know, there's
• 40:05
  Speaker 1: a way to address this. It's called impeachment. Madison, also,
• 40:13
  Speaker 1: writing in the Federalist ten, in the context of factions
• 40:16
  Speaker 1: and this idea of the importance of separation of powers, says, quote,
• 40:20
  Speaker 1: no man is allowed to be judging his own cause
• 40:24
  Speaker 1: because his intent interest would certainly bias his judgment and
• 40:29
  Speaker 1: not improbably corrupt his integrity. Yeah, that's true. You don't
• 40:35
  Speaker 1: want the same person to judge himself make decisions about himself.
• 40:51
  Speaker 1: So behind all of this was this assumption that if
• 40:53
  Speaker 1: we had a corrupt president, Congress would step in and impeachable.
• 41:06
  Speaker 1: But we have a president now that goes far beyond
• 41:08
  Speaker 1: any kind of corruption. I think the founders would have
• 41:12
  Speaker 1: ever imagined, ever imagined. Trump settled a ten billion dollar
• 41:22
  Speaker 1: lawsuit brought by himself, and he settled it with himself.
• 41:26
  Speaker 1: That's him being judge over his own stuff. During Trump's
• 41:33
  Speaker 1: first term, it was his IRS that leaked his taxes
• 41:40
  Speaker 1: he was a contractor. Trump has sued the executive branch
• 41:48
  Speaker 1: he runs for crime committed by the IRS. Bang back
• 41:51
  Speaker 1: when he ran it in the first place, something wrong there.
• 41:58
  Speaker 1: Now it was like the courte was gonna throw this out,
• 42:02
  Speaker 1: throw the case out, so he quickly arranged the deal. Now,
• 42:06
  Speaker 1: the IRS wrote to the Justice Department that the Justice
• 42:10
  Speaker 1: Department should dismiss the case, that there was nothing here
• 42:14
  Speaker 1: to be suitable, partially because it was a contractor then
• 42:17
  Speaker 1: not liable for the actions of a contractor. The Justice
• 42:21
  Speaker 1: Apartment decided instead to quote Settle. I mean, I can't
• 42:27
  Speaker 1: think of an attorney general who is more corrupt than
• 42:29
  Speaker 1: the guy we've got there right now. And now again
• 42:34
  Speaker 1: Trump will have this pot of money that he will
• 42:37
  Speaker 1: control again. I mean, you know, Trump was asked at
• 42:51
  Speaker 1: some point during his trip to China, I think, oh,
• 42:54
  Speaker 1: when he came back about you know, administration stuff. And
• 42:58
  Speaker 1: he was asked what the difference is between the first
• 43:01
  Speaker 1: term and this term. And Trump said, this time, I
• 43:06
  Speaker 1: run the country and the world. He says, he doesn't
• 43:10
  Speaker 1: have anybody in this administration to hinder him. He does
• 43:13
  Speaker 1: whatever he wants to do. And I told you, I
• 43:18
  Speaker 1: told you this would be the case. I warned you,
• 43:21
  Speaker 1: I said, there will be no adults in the room
• 43:23
  Speaker 1: this time. You know, it's it's hard to believe that
• 43:34
  Speaker 1: we're going to have two billion dollars looted from the
• 43:37
  Speaker 1: US government in broad daylight, with full press coverage, and
• 43:44
  Speaker 1: not only nobody will say any nothing will happen, and
• 43:49
  Speaker 1: Congress will not impeach. And this is clearly an impeachable offense.
• 43:57
  Speaker 1: It's unprecedented, it's it's so brazy. And by the way,
• 44:02
  Speaker 1: as part of this deal, the IRS is ending all
• 44:07
  Speaker 1: active audits into Trump, his family, and his business. And
• 44:15
  Speaker 1: that is him, is Don Junior, It's Eric, it's Ivanka,
• 44:18
  Speaker 1: it's Jared Kushna, it's all of them now immune from
• 44:21
  Speaker 1: the IRS. The Treasury is top lawyer quit yesterday when
• 44:37
  Speaker 1: this was announced. I mean, this is offensive to anybody
• 44:43
  Speaker 1: with even a tiny fraction of integrity. At one point
• 44:52
  Speaker 1: seven seven six billion dollar slush fund is called the
• 44:56
  Speaker 1: Anti Weaponization Fund. It's the compensate people for Biden's weaponization
• 45:01
  Speaker 1: of the Justice Department, which even if he did, even
• 45:04
  Speaker 1: if you buy into that, this can't be the right
• 45:06
  Speaker 1: way to do it. No, I mean, maybe I was
• 45:14
  Speaker 1: wronging to be so optimist, positive positive about America with
• 45:18
  Speaker 1: this guy running it, maybe we could lose to China.
• 45:24
  Speaker 1: According to the Partner of Justice, the IRS has now
• 45:27
  Speaker 1: forever barred from and precluded from pursuing examination of Trump
• 45:33
  Speaker 1: and his related affiliated individuals. Now, I don't know if
• 45:37
  Speaker 1: that's forever or what that is, but it's quite a
• 45:41
  Speaker 1: get out of jail free card to be continued. We
• 45:47
  Speaker 1: will see what happens with this funde. You know, if
• 45:49
  Speaker 1: Democrats win the House, my guess is they will impeach Trump,
• 45:52
  Speaker 1: but then he will be exonerated by the Senate because
• 45:56
  Speaker 1: not enough Republicans will vote against him. Although he's making
• 45:59
  Speaker 1: no friends right now. In the Senate, Trump got uh,
• 46:03
  Speaker 1: you know Cassidy Uh, the the Republican from from Louisiana. Uh.
• 46:09
  Speaker 1: Basically because of Trump lost a primary. He's going to
• 46:14
  Speaker 1: be out soon of the Senate come come November. Trump
• 46:21
  Speaker 1: is going after Massey, which again is not popular among Republicans.
• 46:26
  Speaker 1: And today Trump announced that he is endorsing Ken Paxton
• 46:34
  Speaker 1: for the Texas GUP Senate in the Texas JUP Senate primary,
• 46:41
  Speaker 1: and he's picking him over the incumbent Senator John uh Corne,
• 46:57
  Speaker 1: who is a strong support of Trump and a committed,
• 47:02
  Speaker 1: committed a conservative. But Paxton is more maga, Paxton is
• 47:11
  Speaker 1: more trumpst Paxton is going to be more loyal. Paxton
• 47:18
  Speaker 1: is more nihilistic. Maybe because Paxton is more corrupt, you know,
• 47:28
  Speaker 1: just to remind you, Paxton what is said. Paxton was
• 47:36
  Speaker 1: impeached by his own party, the Republicans in Texas for
• 47:43
  Speaker 1: what for bribery and corruption. He was then acquitted and
• 47:49
  Speaker 1: the Senate after massive amounts of lobbying, including by Trump
• 47:56
  Speaker 1: on Texas Republican senators. He said they Uvalde school shooting
• 48:04
  Speaker 1: was God's plan. And he's just a creep, he said,
• 48:09
  Speaker 1: many affairs, he's just you know, it's just it's just,
• 48:13
  Speaker 1: you know, by by most accounts, a pretty corrupt, bad guy.
• 48:21
  Speaker 1: Betty's Trump's guy, and he's Trump's kind of guy. And
• 48:33
  Speaker 1: you know, he endorsed him over an encumbented seminism. Now
• 48:38
  Speaker 1: senators and tech senators in the center right now, Republican
• 48:41
  Speaker 1: senators in the Senate are not happy. I'm not happy
• 48:46
  Speaker 1: with Trump. I mean, basically, you can be loyal, you
• 48:50
  Speaker 1: can vote one hundred percent with Trump, you can follow
• 48:53
  Speaker 1: his agenda and he'll still stab you in the back. Uh. Kanye,
• 48:59
  Speaker 1: for example, was opposed to getting rid of the filibuster.
• 49:07
  Speaker 1: But Trump really wants to get rid of the filibusters.
• 49:09
  Speaker 1: He can pass the Save America Bill about the elections,
• 49:15
  Speaker 1: and so Kanyia flipped on it under pressure from Trump
• 49:20
  Speaker 1: because Paxton was saying, oh no, I would get rid
• 49:22
  Speaker 1: of the philibuster and hot met Skanie flipped. How does
• 49:28
  Speaker 1: Trump award him for that? He endorses Paxton. So look,
• 49:33
  Speaker 1: you know, Texas politics beyond me, but I can tell
• 49:40
  Speaker 1: you Republican centers is not happy, Republican politicians not happy.
• 49:44
  Speaker 1: And what the shows is Trump less committed to the
• 49:48
  Speaker 1: Republican Party. Trump less committed to the future of the
• 49:52
  Speaker 1: Republican Party, and mainly committed to himself, to his own
• 49:56
  Speaker 1: control of the Republican Party, to making sure whatever people
• 49:59
  Speaker 1: are out there, they're his people, all his people. In
• 50:04
  Speaker 1: this case, for example, vaccent because a much higher likely
• 50:08
  Speaker 1: to lose the Democrat than Kanya does. Indeed, right now,
• 50:13
  Speaker 1: according to Kolchi, you know the the betting platform, James
• 50:22
  Speaker 1: tell Rico, the Democratic candidate, this far left preacher, religious
• 50:29
  Speaker 1: preacher is h is uh you know uh favored right
• 50:35
  Speaker 1: now to win the Texas election. Now again, often Democrats
• 50:38
  Speaker 1: think that they can win Texas and they don't. But
• 50:42
  Speaker 1: this is the betting arts. People are putting money on this.
• 50:44
  Speaker 1: It's not me. I don't know, I have no idea,
• 50:49
  Speaker 1: but this is clearly Paxson has more of a chance
• 50:55
  Speaker 1: of losing than Kanye. Kanye is one in Texas. Yeah,
• 51:02
  Speaker 1: so winning Texas is not what matters. It's making sure
• 51:05
  Speaker 1: that people around you are the people who blindly, no
• 51:09
  Speaker 1: matter what, no matter what the circumstances, will support you.
• 51:14
  Speaker 1: That's what he kires about. All right, So Iran has
• 51:27
  Speaker 1: proposed a new deal. Here the bullet points. US troops
• 51:33
  Speaker 1: lead bases all their bases in the Middle East near Ran.
• 51:38
  Speaker 1: US pays youon war reparations, US ends the blockade on
• 51:43
  Speaker 1: you on US, lifts sanctions on you on US, releases
• 51:47
  Speaker 1: fosen assets on you. On Trump this morning says or
• 51:55
  Speaker 1: was it yesterday? I was gonna bomb you on today,
• 52:02
  Speaker 1: but I've decided to delay because the Gulf States all
• 52:07
  Speaker 1: called me up and said, oh, the Uranians are ready
• 52:11
  Speaker 1: to sign a peace deal. So I've delayed. I'm not
• 52:17
  Speaker 1: gonna bump today. We're going to delay. How much are
• 52:19
  Speaker 1: we gonna lay? What? We'll see, right, we'll see. I
• 52:24
  Speaker 1: remember sixty days ago, Trump said we postponed to attack
• 52:28
  Speaker 1: on Iran by one day. We're very close to making
• 52:31
  Speaker 1: a deal. It was sixty days ago, and then forty
• 52:33
  Speaker 1: days ago, Trump said we postponed an attack on Iran
• 52:35
  Speaker 1: by two days. We're very close to making a deal.
• 52:39
  Speaker 1: And then twenty days ago, Trump said we postponed an
• 52:42
  Speaker 1: attack by seven days. We're really very very close to
• 52:46
  Speaker 1: making a deal. And then five minutes ago, Trump said,
• 52:51
  Speaker 1: we've postponed an attack by run by two to three
• 52:53
  Speaker 1: days because we're very close to making a deal. And
• 52:59
  Speaker 1: then and somebody said, he said the attack will be, uh,
• 53:05
  Speaker 1: you know, maybe it'll be in a day or two,
• 53:08
  Speaker 1: or you know, maybe it'll be Yeah, he's the exact quote,
• 53:12
  Speaker 1: two or three days, maybe Friday, Saturday, Sunday, maybe only
• 53:16
  Speaker 1: next week. A limited period of time, just like all
• 53:19
  Speaker 1: the other limited periods of time. And why anybody takes
• 53:23
  Speaker 1: some seriously anymore? Clearly the Iranians don't. He also said
• 53:36
  Speaker 1: today that everybody tells him that the word he want
• 53:40
  Speaker 1: is unpopular, but he thinks it's very popular. About primacy
• 53:45
  Speaker 1: of consciousness. Anyway, there's another story going around that it
• 53:51
  Speaker 1: wasn't the Gulf States calling him to tell him that that,
• 53:57
  Speaker 1: you know, Yuan is going to cut a deal. Ind
• 54:00
  Speaker 1: Droun States deny doing that, but the story, at least
• 54:05
  Speaker 1: in some sources by again Administrativenostation SoCs speaking to the
• 54:08
  Speaker 1: New York Times or whatever, say no, it's because the
• 54:13
  Speaker 1: US is not ready, because they've discovered that the Ranians
• 54:17
  Speaker 1: are really sophisticated and they've they've got the defense system
• 54:21
  Speaker 1: now get up. They figured out American tactics and they're
• 54:24
  Speaker 1: really really dangerous, and the US Air Force is afraid.
• 54:29
  Speaker 1: I called bullshit on that. Two wars were fought in
• 54:33
  Speaker 1: June of last year, and then earlier this year. One
• 54:38
  Speaker 1: American plane was shut down. One American plane was shut
• 54:42
  Speaker 1: down in thousands of sautees that were flown. The Ranians
• 54:49
  Speaker 1: are not figured out anything. It could be that the
• 54:56
  Speaker 1: Gulf States were worried because what's happened over this brilliant
• 55:00
  Speaker 1: cease fire, one of the great brilliant moves of this
• 55:03
  Speaker 1: Trump presidency. The Iranians have got all their ballistic missiles,
• 55:11
  Speaker 1: they've got their launches out. Everything's prepped to go, and
• 55:15
  Speaker 1: the fear is that as soon as the United States attacks,
• 55:18
  Speaker 1: hundreds of missiles will be launched on Gulf oil infrastructure.
• 55:24
  Speaker 1: That could be a worry. The ceasefires should have never
• 55:28
  Speaker 1: been agreed to, ever been agreed to until Iran was
• 55:33
  Speaker 1: on its knees. I mean, indeed, the Iranians are threatening
• 55:40
  Speaker 1: that they will return the Emirates into an era of
• 55:43
  Speaker 1: writing camels, that they will occupy Abu Dhabi if necessary.
• 55:49
  Speaker 1: They're also worried that the hooties are going to start
• 55:52
  Speaker 1: firing and closing the straits their own straits. I mean,
• 55:58
  Speaker 1: the things to worry about. But it's not that they
• 56:03
  Speaker 1: figured out it defends and it's not American weakness. We
• 56:10
  Speaker 1: will see what America has up its sleeve, what Israel
• 56:12
  Speaker 1: has up its sleeve. According to Channel twelve, one of
• 56:17
  Speaker 1: Israel's main news shows, the Israeli in the US have
• 56:23
  Speaker 1: completed their preparations for an attack on Iran. Israel's at
• 56:29
  Speaker 1: the highest alert since the ceasefire started. It is also
• 56:33
  Speaker 1: concerned that the Iranians might try a preemptive strike against Israel,
• 56:38
  Speaker 1: so they're also on defensive alert. Israel held a five
• 56:45
  Speaker 1: hour security meeting last night with the idea of Chief
• 56:48
  Speaker 1: and the Air Force Commander, and Nataniel is due in
• 56:54
  Speaker 1: court this week has asked to cancel his court appearance
• 56:57
  Speaker 1: tomorrow because of security developed and so again, wouldn't be
• 57:01
  Speaker 1: surprised if the attack happened sometime today, Tomorrow, Friday, Saturday, Sunday, Monday,
• 57:08
  Speaker 1: maybe early next week, as Trump says, who knows. But
• 57:16
  Speaker 1: you know, these delays make no sense. They only emboldened
• 57:20
  Speaker 1: the Iranians. They only give them more time to prepare themselves.
• 57:29
  Speaker 1: Forty five US Air Force were down. Really wow, We
• 57:36
  Speaker 1: have in a chat somebody who is better informed than
• 57:40
  Speaker 1: anybody in the world about how many US planes. I
• 57:43
  Speaker 1: think he was there and he was literally counted how
• 57:45
  Speaker 1: many planes were shut down. So he knows because he's
• 57:48
  Speaker 1: got eyewitness testimony, he saw it with his own eyes.
• 57:51
  Speaker 1: How many pilots were killed. By the way, if forty
• 57:54
  Speaker 1: five planes were shut down, I mean, there's a lot
• 57:59
  Speaker 1: of doomsday reporting out there. I mean it's it's part
• 58:05
  Speaker 1: of the same phenomena about US and China downplay US success,
• 58:11
  Speaker 1: upplay any damage, any casualties, any issues, any problem. The
• 58:18
  Speaker 1: complete and utter, unequivocal dominance of the Israelis and Americans
• 58:23
  Speaker 1: over Yran. Only the Ranians know how bad that was.
• 58:34
  Speaker 1: All right, I'll remind you again, ask questions. Very few
• 58:37
  Speaker 1: questions today, So jump in with questions. We got one
• 58:40
  Speaker 1: hundred and thirty people watching live. You can ask about anything,
• 58:45
  Speaker 1: you make comments about anything, and particularly twenty dollars questions
• 58:49
  Speaker 1: are greatly appreciated and answered first twenty fifteen hundred dollars questions,
• 58:54
  Speaker 1: and yep, fund the show. And you determine. You determine
• 59:02
  Speaker 1: what I talk about, what I talk about. All right.
• 59:07
  Speaker 1: I thought I came across the story about short selling.
• 59:12
  Speaker 1: I thought I just talk a little bit about this.
• 59:14
  Speaker 1: Those are you interested in finance might find it interesting.
• 59:17
  Speaker 1: You know, generally finances are hated, and generally the more
• 59:23
  Speaker 1: innovative they are, the more persecuted they are by the authorities,
• 59:27
  Speaker 1: and they are unjust persecutions going on, and finance is constantly,
• 59:34
  Speaker 1: constantly and the laws are written in such a way
• 59:38
  Speaker 1: that these persecutions are easy because you know, almost everything
• 59:43
  Speaker 1: you do in finance can easily be interpreted as securities, fraud, fraud.
• 59:52
  Speaker 1: There's a great column if you're interested in finance at
• 59:54
  Speaker 1: Bloomberg by Matt Levin. Matt Levin writes, I think it's
• 59:58
  Speaker 1: almost a daily column about finance, and you know, it's
• 1:00:05
  Speaker 1: it's it's really really it's really really interesting. And one
• 1:00:08
  Speaker 1: of the things he says is everything is security for UD,
• 1:00:11
  Speaker 1: everything is inside of trading, because he knows after many,
• 1:00:16
  Speaker 1: many years of covering Wall Street and and and they
• 1:00:19
  Speaker 1: legal challenges that the way the laws are written, they're
• 1:00:23
  Speaker 1: all written in ways that make it possible to sue
• 1:00:25
  Speaker 1: anybody about anything at any time pretty much. But one
• 1:00:31
  Speaker 1: of the things that is most hated in in in finance,
• 1:00:35
  Speaker 1: one of the activities that our culture despises and the
• 1:00:41
  Speaker 1: Justice Department in the sec SEC are always eager to
• 1:00:45
  Speaker 1: jump on is short selling. Now, what is short selling
• 1:00:53
  Speaker 1: Selling is a situation where you believe a star price
• 1:00:57
  Speaker 1: will go down and you want to make money when
• 1:01:01
  Speaker 1: he goes down. So what happens is you borrow the
• 1:01:05
  Speaker 1: stock from somebody who owns it, you sell it today.
• 1:01:10
  Speaker 1: Let's say the stock is selling for one hundred dollars,
• 1:01:12
  Speaker 1: she sell it for one hundred dollars, and you pocket
• 1:01:14
  Speaker 1: one hundred dollars. At some point you have to return
• 1:01:18
  Speaker 1: the stock to the person you borrowed it from. But
• 1:01:20
  Speaker 1: what you're hoping is that the stock will go down.
• 1:01:25
  Speaker 1: Let's say it goes down to fifty, and then when
• 1:01:27
  Speaker 1: he goes down to fifty, you buy the stock at
• 1:01:29
  Speaker 1: fifty and you return it to the guy you borrowed
• 1:01:32
  Speaker 1: it from, and you've netted a profit at fifty bucks.
• 1:01:36
  Speaker 1: If the stock goes to zero, you don't have to
• 1:01:38
  Speaker 1: return it. You make one hundred dollars. Now the most
• 1:01:43
  Speaker 1: you can make on a short selle is one hundred percent.
• 1:01:48
  Speaker 1: You can lose an infinite amount because if the stock
• 1:01:51
  Speaker 1: goes up and now you have to return the stock,
• 1:01:54
  Speaker 1: you have to buy it at ever higher prices. There's
• 1:01:56
  Speaker 1: no limit how far it can go up. It could
• 1:01:58
  Speaker 1: go to a thousand something. You bought for a hundred something,
• 1:02:01
  Speaker 1: you sold for a hundred. You have to buy for
• 1:02:03
  Speaker 1: a thousand to return the stock. That's basically how a
• 1:02:06
  Speaker 1: short sale works. So there was now a criminal prosecution
• 1:02:13
  Speaker 1: of Andrew Left, who is an activist short seller, and
• 1:02:21
  Speaker 1: it is focused. In twenty twenty four, he was arrested.
• 1:02:24
  Speaker 1: He was charged with and I'm reading from a column
• 1:02:28
  Speaker 1: by met Levin Levine, and he was charged with criminal
• 1:02:33
  Speaker 1: market manipulation. Whatever the hell that is and it s
• 1:02:37
  Speaker 1: trial started last week. The theory of the US Department
• 1:02:41
  Speaker 1: of Justice and the SEC is that this is basically
• 1:02:45
  Speaker 1: what Left did. He'd picked some random stock and sell
• 1:02:49
  Speaker 1: it short, and then he'd go on Twitter and he'd
• 1:02:54
  Speaker 1: say this stock is a fraud and I'm shorting it
• 1:02:57
  Speaker 1: until it hit zero. His legions of devoted followers would
• 1:03:03
  Speaker 1: sell the stock, pushing the price down. Then Left would
• 1:03:08
  Speaker 1: buy his short back right to turn the stock out
• 1:03:13
  Speaker 1: of profit. And he'd do this stock after stock after stock,
• 1:03:20
  Speaker 1: and he would do the same thing on stocks that
• 1:03:21
  Speaker 1: he was long. He would buy a stock then say, oh,
• 1:03:24
  Speaker 1: I love this stock. It's going to quadruple in the
• 1:03:26
  Speaker 1: next thirty days, and then everybody would go in and buy,
• 1:03:29
  Speaker 1: and then he would sell when it reached when it
• 1:03:31
  Speaker 1: went up. So the de Partner of Justice and the
• 1:03:38
  Speaker 1: SCC are trying to show in this trial that Left
• 1:03:42
  Speaker 1: was lying about his own intentions, that his social media
• 1:03:46
  Speaker 1: followers believed those lies, and that those lies were actually
• 1:03:51
  Speaker 1: material to them. We want to sell any stock that
• 1:03:58
  Speaker 1: Andrew Left a short. Is the idea that his followers
• 1:04:02
  Speaker 1: would think right, even though they knew that he was
• 1:04:08
  Speaker 1: short selling the trades they still trusted him, and then
• 1:04:14
  Speaker 1: they left defenses pretty simple, I'm sure saying I'm sure
• 1:04:19
  Speaker 1: the stock I'm reading for the article was not a
• 1:04:22
  Speaker 1: commitment to keep the position forever, and he had the
• 1:04:26
  Speaker 1: right to do risk management and take profits when the
• 1:04:29
  Speaker 1: stock moved, and his statement about the stock was made
• 1:04:33
  Speaker 1: in good faith and often true. When he said the
• 1:04:36
  Speaker 1: company is a fraud, he meant it. There are several
• 1:04:39
  Speaker 1: cases in the government's complaint that the government actually lists
• 1:04:43
  Speaker 1: were Left said that some company was a fraud and
• 1:04:45
  Speaker 1: he was short and the company shockingly was a fraud,
• 1:04:52
  Speaker 1: like cases where the SEC brought a fraud case against
• 1:04:55
  Speaker 1: the company and then stock collapsed and Left made a
• 1:04:59
  Speaker 1: lot of money. The government's theory is that people who
• 1:05:04
  Speaker 1: followed left Twitter and shorted those those stocks were deceived
• 1:05:08
  Speaker 1: because they thought that Left was short for the long term,
• 1:05:11
  Speaker 1: and in fact he covered quickly. But the people who
• 1:05:13
  Speaker 1: followed left Twitter and short of those stocks did well
• 1:05:16
  Speaker 1: because those stocks were frauds. As he said. Anyway, that
• 1:05:23
  Speaker 1: the trial was last week and the government called some
• 1:05:26
  Speaker 1: witnesses and some retail traders who followed left and lost money.
• 1:05:39
  Speaker 1: But so you think that that you know, they would
• 1:05:42
  Speaker 1: have brought somebody who followed left advice short at stocks
• 1:05:46
  Speaker 1: that he said you should short, and then lost money
• 1:05:48
  Speaker 1: because he was lying. But that's not what the government presented.
• 1:05:52
  Speaker 1: Here's the case that the government a guy that the
• 1:05:55
  Speaker 1: government put understand right, which I think just makes left
• 1:05:59
  Speaker 1: case for him. Billy Banks, a tied fire fighter from Texas,
• 1:06:08
  Speaker 1: testified at Left trial in Los Angeles Federal Quote on Thursday.
• 1:06:12
  Speaker 1: He testified he took about one hundred and ten thousand
• 1:06:14
  Speaker 1: that was previously invested in mutual funds in its four
• 1:06:17
  Speaker 1: one K to buy shares in a can cannabis company
• 1:06:21
  Speaker 1: called cv Science with the stock ticket CVSI. Banks said
• 1:06:27
  Speaker 1: he bought the CVSI because he believed the company had
• 1:06:29
  Speaker 1: great CBD products that really helped with stress and pain management.
• 1:06:35
  Speaker 1: Banks said that shortly after he returned from vacation, left
• 1:06:39
  Speaker 1: shared negative comments about the company. The stock price plummeted.
• 1:06:44
  Speaker 1: While he believed in the product, he said he couldn't
• 1:06:47
  Speaker 1: justify the beatdown he was taking it the stock price tanked.
• 1:06:51
  Speaker 1: It was like trying to catch a tiger's tail. You
• 1:06:54
  Speaker 1: couldn't catch up with the thing, he said. Banks sold
• 1:06:57
  Speaker 1: the CVSI shares, losing about eighty thousand dollars Wow on
• 1:07:02
  Speaker 1: his initial investment. He took the remaining thirty thousand and
• 1:07:07
  Speaker 1: invested in another count of cannabis stock, hoping to recoup
• 1:07:11
  Speaker 1: some of his losses. This time, he invested in a
• 1:07:14
  Speaker 1: company called Namaste Technologies. The company has since been renamed
• 1:07:19
  Speaker 1: lifest Wellness and Us. As a stock Ticket and XTTF
• 1:07:25
  Speaker 1: noted these all penny stocks. Banks testified he saw Left
• 1:07:32
  Speaker 1: on a TV appearance in which the short Cellar City
• 1:07:35
  Speaker 1: believe Namaste share price would go to zero and that
• 1:07:39
  Speaker 1: his reaction was simply horror. Banks testified and by the
• 1:07:42
  Speaker 1: time he sold, he had lost around eighty percent of
• 1:07:45
  Speaker 1: his investment in Namaste, calling it devastating. So this is
• 1:07:52
  Speaker 1: the government's case. This guy bought two cannabis penny stocks
• 1:07:58
  Speaker 1: right then. Andrew Left went on television and said these
• 1:08:03
  Speaker 1: cannabis country companies are joke, which was true the stocks
• 1:08:08
  Speaker 1: created and Left committed a crime by telling the world
• 1:08:12
  Speaker 1: what was true. Left tweeted about Nama State in September
• 1:08:17
  Speaker 1: twenty eighteen, some cannabis stocks overvalued and some are total jokes.
• 1:08:25
  Speaker 1: This is a joke. Drop it like it's hot. It
• 1:08:30
  Speaker 1: stock traded as high as two eighty nine shares that month,
• 1:08:34
  Speaker 1: but Left announced a price target of twenty five cents.
• 1:08:38
  Speaker 1: It hit fifty eight cents by the end of the year.
• 1:08:42
  Speaker 1: It fired its chief executive officer after an investigation into
• 1:08:46
  Speaker 1: left S allegation and was below left price targeted by
• 1:08:49
  Speaker 1: the end of twenty nineteen, so below twenty five cents.
• 1:08:53
  Speaker 1: It never recovered. It closed last Friday at about three cents,
• 1:08:59
  Speaker 1: but it did a one for two when he reversed
• 1:09:00
  Speaker 1: stock split in twenty twenty four, so it's even way
• 1:09:04
  Speaker 1: below three cents. Over the past eight years, No Stairs
• 1:09:08
  Speaker 1: stock steadily lost ninety nine point nine five percent of
• 1:09:11
  Speaker 1: its value, as Andrew Left correctly predicted in twenty eighteen.
• 1:09:17
  Speaker 1: This is from Business Inside article. The defense said Left
• 1:09:21
  Speaker 1: never recommended anyone by CVSI or Namba Stair. They also
• 1:09:25
  Speaker 1: argued that Left's view of number Stair turned out to
• 1:09:29
  Speaker 1: be right, and if Banks had sold the shares the
• 1:09:32
  Speaker 1: day Left issued the negative report, he would have lost
• 1:09:34
  Speaker 1: less money than he did by selling them later. So
• 1:09:39
  Speaker 1: go figure out why this guy was put on the stand.
• 1:09:42
  Speaker 1: What there trying to prove? I mean, basically, Andrew Left
• 1:09:47
  Speaker 1: spotted a fraud and let people know about it. And
• 1:09:49
  Speaker 1: he was right. I mean, the SEC actually filed a
• 1:09:56
  Speaker 1: fraud case against CVSI, which also closed recently Friday, I
• 1:10:02
  Speaker 1: think at three cents and is down ninety nine point
• 1:10:05
  Speaker 1: six percent from its twenty eighteen peak. But again, left
• 1:10:09
  Speaker 1: Or is right, even the SEC knows it's right. So
• 1:10:15
  Speaker 1: what's going on here? I mean, I know everybody hates
• 1:10:17
  Speaker 1: short sellers because they make money on losses on bad companies,
• 1:10:23
  Speaker 1: But that's good. You need somebody looking out there in
• 1:10:26
  Speaker 1: the marketplace to make it more efficient to make sure
• 1:10:29
  Speaker 1: that bad companies, over valued companies their true value is recognized.
• 1:10:39
  Speaker 1: So it seems like this is a just an awful prosecution. Unfortunately,
• 1:10:45
  Speaker 1: jury's often swayed because they don't like the idea that
• 1:10:48
  Speaker 1: somebody make money off a company going bust, and they
• 1:10:52
  Speaker 1: often vote, you know, they often convict. But it really
• 1:10:56
  Speaker 1: does look like this, this prosecution is persecution for no
• 1:11:00
  Speaker 1: good reason other than hatred of short sellers for the
• 1:11:06
  Speaker 1: sake of being successful, for the sake of being right,
• 1:11:09
  Speaker 1: for the sake of what exactly, just a continuation of
• 1:11:17
  Speaker 1: persecution of financiers for being financiers, which I've been writing
• 1:11:21
  Speaker 1: about for decades, for decades, I will keep you posted
• 1:11:27
  Speaker 1: if I hear anything about this case and how what
• 1:11:29
  Speaker 1: the outcome looks, what actually happens right at the end.
• 1:11:39
  Speaker 1: But right now it looks like he's being persecuted, prosecuted
• 1:11:45
  Speaker 1: because quote short sellers are mean, and that is the
• 1:11:51
  Speaker 1: only reason. Sad. Sad and not a way to staying
• 1:12:01
  Speaker 1: American strength. We talked about the beginning of the show.
• 1:12:06
  Speaker 1: All right, that is the news for this May nineteenth Tuesday.
• 1:12:13
  Speaker 1: Thank you guys. All right, so let's see what are
• 1:12:19
  Speaker 1: we doing. We are going to move to your super
• 1:12:27
  Speaker 1: chat questions and a lot of them. So if you
• 1:12:29
  Speaker 1: still have a question now it's the attempt to ask
• 1:12:32
  Speaker 1: a very few questions right now, so your questions will
• 1:12:37
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• 1:13:23
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• 1:13:27
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  Speaker 1: fund it into the future. Uh, let's see what else
• 1:15:20
  Speaker 1: did I want to say? Yeah, I want to say
• 1:15:21
  Speaker 1: Yesterday I did an interview with Josh Wyndham about you know,
• 1:15:28
  Speaker 1: he works for the Institute for Justice. I thought the
• 1:15:30
  Speaker 1: interview was excellent. Josh is incredibly articulate. He's working on
• 1:15:34
  Speaker 1: super interesting stuff. He is positive and energetic and very charismatic.
• 1:15:41
  Speaker 1: And you should, really, you guys should, really you should
• 1:15:46
  Speaker 1: really check him out. You should you should check out
• 1:15:48
  Speaker 1: the interview. I think you'll really like it. Check out
• 1:15:50
  Speaker 1: the what he does at the Institute for Justice. Generally,
• 1:15:53
  Speaker 1: the Institute for Justice is one of the them and
• 1:15:55
  Speaker 1: Pacific Legal Foundation just doing amazing work to defend out
• 1:16:00
  Speaker 1: liberties in the court system. And they attract some of
• 1:16:04
  Speaker 1: the smartest people in objectivism in you know, and Josh
• 1:16:09
  Speaker 1: is one of them. And he's I was impressed. You know,
• 1:16:12
  Speaker 1: I've always thought he was smart. I've known him since
• 1:16:14
  Speaker 1: he was a student. But he did a really good
• 1:16:18
  Speaker 1: job yesterday and more of you should watch the interview,
• 1:16:21
  Speaker 1: so check it out. It's on my channel, it's in
• 1:16:23
  Speaker 1: the podcast, you know. On the podcast. Josh Wyndham from
• 1:16:28
  Speaker 1: Institute for Justice. All right, let's jump in now. I
• 1:16:30
  Speaker 1: have I have three questions from yesterday that in the answer,
• 1:16:34
  Speaker 1: so let me go through those. But first let me
• 1:16:37
  Speaker 1: do this for Moulton's Splendor fifty dollars. Thank you, Moulten.
• 1:16:40
  Speaker 1: Splendor really really appreciate it. He says. The news you
• 1:16:46
  Speaker 1: shed today was depressing China Trump election. He won. Oh no,
• 1:16:50
  Speaker 1: the China stuff was positive. Wait a minute, it was
• 1:16:53
  Speaker 1: supposed to be positive. We're doing better than China. Trump
• 1:16:57
  Speaker 1: fought inside the training. It's at all bad news. Thanks
• 1:17:00
  Speaker 1: for what you do, even though it's hard to hear
• 1:17:02
  Speaker 1: it sometimes. Yeah, I mean, I thought the first story
• 1:17:05
  Speaker 1: was a positive story, you know. I apologize, but I
• 1:17:10
  Speaker 1: will try to bring in more positive news in the
• 1:17:14
  Speaker 1: shows the rest of this week. It's been too negative,
• 1:17:17
  Speaker 1: too negative. We will see. But yeah, I mean, I
• 1:17:21
  Speaker 1: open up the newspaper and open up the website, and
• 1:17:24
  Speaker 1: open up Twitter, and open up all the different sources
• 1:17:26
  Speaker 1: I have in news, and it's just awful stuff. It's
• 1:17:30
  Speaker 1: just awful, depressing stuff, all right. From yesterday, Michael asked
• 1:17:36
  Speaker 1: a question for you on thoughts are not casting polls
• 1:17:39
  Speaker 1: before swine when it comes to spreading objectivism. As excited
• 1:17:43
  Speaker 1: as I am about spreading these ideas to most people
• 1:17:47
  Speaker 1: I speak with, I feel many unworthy of the philosophy. Yeah,
• 1:17:50
  Speaker 1: but so what so you spend a little time, they
• 1:17:55
  Speaker 1: don't get to benefit from the polls. It goes in
• 1:17:59
  Speaker 1: one ear, goes o year. It's more matter of you
• 1:18:01
  Speaker 1: not wasting your time. So try to figure out who
• 1:18:03
  Speaker 1: those people are quickly and move on. But you never
• 1:18:07
  Speaker 1: know when your advocacy is going to hit and actually
• 1:18:14
  Speaker 1: resonate with somebody incredibly powerfully. So don't give up on
• 1:18:19
  Speaker 1: people and yes, you know, don't get depressed about the swine.
• 1:18:30
  Speaker 1: Focus on the good guys, Focus on the positive, Focus
• 1:18:33
  Speaker 1: on those you will have an impact on. Dave Goodman
• 1:18:37
  Speaker 1: just sent you an email. When will you be in
• 1:18:40
  Speaker 1: New York City? Great show. I'll be there in two weeks.
• 1:18:43
  Speaker 1: I will send you an email. I flagged your email.
• 1:18:45
  Speaker 1: I need to reply to it. I'll do it later. Tonight. Clark, Texas, Florida,
• 1:18:50
  Speaker 1: and Ohio are pulling forth legislation to eliminate property taxes.
• 1:18:55
  Speaker 1: Is this to combat cost of living crisis? A saving
• 1:18:59
  Speaker 1: grace Republicans? Well, it's too it's to bribe the electorate
• 1:19:04
  Speaker 1: to make sure the electric continue to vote voting Republican.
• 1:19:07
  Speaker 1: Although latest polls show in Florida that the Democrats are
• 1:19:11
  Speaker 1: going to win the governorship in Florida. We'll see if
• 1:19:14
  Speaker 1: that happens, but it doesn't. It looks bad right now.
• 1:19:20
  Speaker 1: So I think it's to bribe the electorate. Primarily, you know,
• 1:19:26
  Speaker 1: it's good. I'm all in favor of reducing taxes, property taxes.
• 1:19:31
  Speaker 1: Of all the taxes out there, from a purely economic perspective,
• 1:19:35
  Speaker 1: it's not the worst. It's actually the least worst from
• 1:19:38
  Speaker 1: an economic perspective. From my perspective, it's really bad because
• 1:19:42
  Speaker 1: it undermines the whole idea of property rights. Do you
• 1:19:44
  Speaker 1: have a right to a property that you have to
• 1:19:46
  Speaker 1: pay taxes on? Not clear? What happens when you stop
• 1:19:49
  Speaker 1: paying your taxes. Suddenly your property disappears, your claim disappears.
• 1:19:54
  Speaker 1: So but if they wanted to for the economy, getting
• 1:19:59
  Speaker 1: rid of of lowering corporate taxes, getting rid of a
• 1:20:04
  Speaker 1: lot of a lot of the other kind of taxes
• 1:20:06
  Speaker 1: is better. But I'm also lowing taxes, getting rid of taxes.
• 1:20:09
  Speaker 1: It's a saving grace for Republicans. I guess yes. Uh,
• 1:20:13
  Speaker 1: they're not eliminating property taxes completely. It's only on first
• 1:20:17
  Speaker 1: homes and only in a certain conditions, and only not
• 1:20:20
  Speaker 1: for rich people, and uh not for second homes. And sadly,
• 1:20:26
  Speaker 1: it's not just eliminate property taxes, and for example, it's
• 1:20:29
  Speaker 1: not for commercial property. There's a way to really spoke
• 1:20:32
  Speaker 1: spoil the economy. Eliminate property taxes and commercial property. Imagine
• 1:20:36
  Speaker 1: the growth boom that would happen then. So I wish
• 1:20:40
  Speaker 1: it was all property taxes. I wish it was more
• 1:20:44
  Speaker 1: robust than it actually is. Jennifer let Eut behavior and
• 1:20:51
  Speaker 1: people just abandoning the human thinking brain and letting the
• 1:20:54
  Speaker 1: reptile brain take over. Our birds used to be afraid
• 1:20:58
  Speaker 1: of new toys in the case each until they got
• 1:21:02
  Speaker 1: used to it. Yeah, I mean reptile brain or whatever.
• 1:21:06
  Speaker 1: People people are afraid because they they haven't been that
• 1:21:11
  Speaker 1: being taught how to think. They don't take post some responsibility.
• 1:21:16
  Speaker 1: Uh they you know, and and they don't. They don't
• 1:21:20
  Speaker 1: believe in taking postal responsibility for their own lives in
• 1:21:23
  Speaker 1: a serious way. Uh And and that makes them fearful.
• 1:21:27
  Speaker 1: It makes them afraid, which is tragic and sad, but
• 1:21:33
  Speaker 1: it is it is the reality out there that that
• 1:21:35
  Speaker 1: people don't you know. Yeah, AI is going to challenge
• 1:21:39
  Speaker 1: you devote some resources to thinking, considering, figuring out and
• 1:21:51
  Speaker 1: you know, and and and take advantage of the massive
• 1:21:54
  Speaker 1: benefits they're gonna crude to all of us because of AI.
• 1:21:58
  Speaker 1: They're gonna cue to everybody who takes seriously and it
• 1:22:01
  Speaker 1: takes us life seriously and plans for it. And those
• 1:22:04
  Speaker 1: who don't are going to be losers. And they know it,
• 1:22:06
  Speaker 1: and they're afraid, and they've got political power, so they
• 1:22:10
  Speaker 1: fear actually matters. All right, Wes, thank you for the
• 1:22:16
  Speaker 1: fifty dollars sticker. I really really really appreciate that. That
• 1:22:19
  Speaker 1: helps a lot. Bonnie, thank you for the sticker, Eneric,
• 1:22:22
  Speaker 1: thank you for the sticker. Let's see, Greg, thank you
• 1:22:25
  Speaker 1: for the sticker. Chili, fran Gail, Normative, Randroid, Oily, and
• 1:22:34
  Speaker 1: I think I got everybody else. I got Katherine of
• 1:22:37
  Speaker 1: Europe and Roland. All right, thank you guys. I'm still
• 1:22:41
  Speaker 1: looking for, like I don't know, at least forty bucks
• 1:22:44
  Speaker 1: to at least make the first hour goal. So if
• 1:22:47
  Speaker 1: there's any twenty twenty dollars stickers or another somebody who
• 1:22:52
  Speaker 1: is willing to match Wes and do fifty dollars, that
• 1:22:54
  Speaker 1: would be great. That would put us at altargra. Thank
• 1:22:57
  Speaker 1: you Jennifer for the question, uh CP milkean or Jonathan Honing.
• 1:23:04
  Speaker 1: This slush fund is an impeachable offense. Yeah, I mean,
• 1:23:06
  Speaker 1: but half of what Trump does is impeachable. I mean,
• 1:23:11
  Speaker 1: it really is. But I'm not sure who exactly is
• 1:23:14
  Speaker 1: going to do the impeaching. Harrison Thomas Massey, who endorsed
• 1:23:23
  Speaker 1: who's endorsed by Nick Foyantis. Yeah, I mean Nick fourdis
• 1:23:27
  Speaker 1: will endorse anybody who is against Israel, says his election
• 1:23:31
  Speaker 1: is about whether or not Israel is allowed to continue
• 1:23:34
  Speaker 1: buying seats in Congress. Yeah, I mean the pro Israel
• 1:23:37
  Speaker 1: lobby is heavily, heavily, heavily supporting his opponent because he's
• 1:23:44
  Speaker 1: very anti Israel and and and uh, kind of the
• 1:23:48
  Speaker 1: worst kind of American isolationists, so called isolationist there is. Uh. Unfortunately,
• 1:23:54
  Speaker 1: he's just a good on on domestic stuff. Uh. And
• 1:23:57
  Speaker 1: he stood up for Trump to Trump. But you know,
• 1:24:00
  Speaker 1: we'll see what happens in that election. It's going to
• 1:24:02
  Speaker 1: be one to watch. It's going to be really really interesting.
• 1:24:04
  Speaker 1: But Massy's a piece of work, and the people rallying
• 1:24:07
  Speaker 1: around him are some of the it's a nick for
• 1:24:09
  Speaker 1: instances of the world. It's the worst people. And then
• 1:24:12
  Speaker 1: you write a rallying around Massy. So I find it
• 1:24:17
  Speaker 1: very difficult to support him. Ryan says, nothing so needs
• 1:24:24
  Speaker 1: reforming as other people's habits. That's a Mark Twain who
• 1:24:30
  Speaker 1: had a phenomenal sense of humor. Yes, I mean, other
• 1:24:34
  Speaker 1: peoples have its need reforming immediately, particularly if they oppose
• 1:24:39
  Speaker 1: AI building of AI. All right, we'll only fourteen dollars
• 1:24:43
  Speaker 1: short now of our first hour goal two hundred and
• 1:24:48
  Speaker 1: sixty four short of our second hour goal, Christian, did
• 1:24:53
  Speaker 1: you watch the Eurovision Song contest? If so, which song
• 1:24:58
  Speaker 1: did you like the most? I voted for Choke Romania
• 1:25:01
  Speaker 1: and I encourage everybody to have an eye on Alexandra
• 1:25:04
  Speaker 1: cup Betnesco, a rising star. I know I never watched
• 1:25:08
  Speaker 1: the Eurovision. I think last Eurovision I watched was in
• 1:25:10
  Speaker 1: the nineteen seventies. I'm not a big fan of pop music,
• 1:25:14
  Speaker 1: and pop music that gets voted on by a mishmash
• 1:25:18
  Speaker 1: of people who know nothing about necessarily about music is
• 1:25:21
  Speaker 1: not particularly appealing to me. You know, the last song
• 1:25:25
  Speaker 1: I got excited about at the Eurovision was Waterloo by
• 1:25:29
  Speaker 1: Abba and I think that was nineteen seventy two or
• 1:25:32
  Speaker 1: nineteen seventy three, and they won that year. Waterloo Anyway
• 1:25:37
  Speaker 1: you can, you can, you can shum along. But that
• 1:25:42
  Speaker 1: that was the last good song coming out of the
• 1:25:44
  Speaker 1: Eurovision in my view. But yeah, you know, I'm not
• 1:25:48
  Speaker 1: a huge fan of pop music generally, and ones where
• 1:25:53
  Speaker 1: they where they, you know, what it's done by nationality
• 1:25:58
  Speaker 1: and flags and all of this stuff. I'm not big
• 1:26:01
  Speaker 1: on it. Michael, you forgot to answer a few big
• 1:26:05
  Speaker 1: super chet questions from yesterday. No, I didn't. I purposely
• 1:26:09
  Speaker 1: left them for today because I knew Josh would not
• 1:26:11
  Speaker 1: be here today, so I answered them earlier today. Michael,
• 1:26:16
  Speaker 1: what is it with the anti Semitism in Australia, Well,
• 1:26:19
  Speaker 1: I mean you're seeing it all over the place, right,
• 1:26:21
  Speaker 1: and it's the anti Semitism is a combination of countries
• 1:26:28
  Speaker 1: that are going out of their way to appease Islam
• 1:26:33
  Speaker 1: on the left, and therefore the left has become anti
• 1:26:36
  Speaker 1: Semitic as part of that appeasement of Islam. And on
• 1:26:40
  Speaker 1: the right it's a backlash against the left, couched in
• 1:26:44
  Speaker 1: I don't know, white supremacy kind of terms, and generally
• 1:26:50
  Speaker 1: a situation in the world, and I think Australia is
• 1:26:53
  Speaker 1: no different where there is an attempt to try to
• 1:26:57
  Speaker 1: explain what is going on in the world through conspiration theories,
• 1:27:00
  Speaker 1: and the Jews happen to be the most convenient, easy,
• 1:27:05
  Speaker 1: well established conspiracy theory out there. The Jews did it
• 1:27:09
  Speaker 1: is like standard protocol. Uh, let's see. Loan des Center
• 1:27:19
  Speaker 1: is all the lazy, low taste AI slop from phony
• 1:27:23
  Speaker 1: content creators driving much of the misguided resentment against AI
• 1:27:27
  Speaker 1: technology itself. I don't think so I don't think very
• 1:27:31
  Speaker 1: many people know the slop, care about the slop, worry
• 1:27:35
  Speaker 1: about the slop. No. I think it's it's against progress.
• 1:27:39
  Speaker 1: It's fear of losing their jobs. It's it's fear of
• 1:27:42
  Speaker 1: electricity prices going up. It's it's fear of progress, it's
• 1:27:46
  Speaker 1: fear of change. Anonymous. I do not participate in the
• 1:27:52
  Speaker 1: business of my home owners association. I don't vote, I
• 1:27:56
  Speaker 1: don't go to meetings. I don't volunteer. Am I right
• 1:27:59
  Speaker 1: or would it be my interest to attend? Well? It
• 1:28:02
  Speaker 1: seems like your homeowner's association makes decision that directly have
• 1:28:06
  Speaker 1: an impact on your life and the value of your property.
• 1:28:13
  Speaker 1: I mean, what happens in Washington has relatively speaking, very
• 1:28:19
  Speaker 1: little impact on your life and you and the value
• 1:28:22
  Speaker 1: of your property, and your homemo's associations seems to have
• 1:28:25
  Speaker 1: a lot of impact. So it seems like of all
• 1:28:28
  Speaker 1: the political things that you would want to get involved in,
• 1:28:32
  Speaker 1: the thing's closest to you. So I would definitely keep
• 1:28:35
  Speaker 1: an eye on them. I would definitely find out what
• 1:28:37
  Speaker 1: they're doing. I would definitely monitor and make sure they're
• 1:28:41
  Speaker 1: I'm making decisions they're gonna screw you. The other thing
• 1:28:44
  Speaker 1: about HO is is not a lot of people participate,
• 1:28:48
  Speaker 1: so the few who do get to make all the decisions.
• 1:28:52
  Speaker 1: So in an ho you actually have an impact. You
• 1:28:55
  Speaker 1: actually get to impact the outcome, which is not true
• 1:28:59
  Speaker 1: and why, and it's not true in the States and
• 1:29:03
  Speaker 1: even at the city level, but here you actually have
• 1:29:06
  Speaker 1: an impact. So I say, yeah, you should probably at
• 1:29:09
  Speaker 1: least find out what the hell they're doing Moulten. Splendors
• 1:29:14
  Speaker 1: had enjoyed the interview with JUSTH. Wyndham. Very interesting discussion.
• 1:29:17
  Speaker 1: Thanks for having him on. Oh thank you Moulton. Yes,
• 1:29:19
  Speaker 1: I thought it was really good. I thought it was
• 1:29:21
  Speaker 1: really articulate and really good and really interesting. The cases
• 1:29:25
  Speaker 1: are super interesting and I hope he wins them all. Michael,
• 1:29:30
  Speaker 1: I think since the weather got nice, a super Chat
• 1:29:32
  Speaker 1: revenue will suffer for a brief period. Really, I didn't.
• 1:29:37
  Speaker 1: I haven't correlated super Chat with weather. Maybe maybe. Greg
• 1:29:49
  Speaker 1: Lewis says, in memory of John Ridpath who was born
• 1:29:52
  Speaker 1: in this day, I didn't realize that Today'sjohn Ridpeth's birthday.
• 1:29:55
  Speaker 1: It's my birthday in four days. He died in twenty
• 1:29:59
  Speaker 1: twenty one. He was eighty eighty five. He was eighty
• 1:30:06
  Speaker 1: five John Ridpeth was amazing. He had this amazing voice,
• 1:30:11
  Speaker 1: He had a real presence about him. He had a
• 1:30:15
  Speaker 1: real great sense of life. So yeah, fun, all right, Yeah,
• 1:30:22
  Speaker 1: I mean a real loss, a real loss. So I
• 1:30:26
  Speaker 1: enjoyed very much getting to know John, and he had
• 1:30:32
  Speaker 1: had a real impact on my tenure as a CEO
• 1:30:37
  Speaker 1: of the and your intertduees on my board of directors.
• 1:30:39
  Speaker 1: So he was great, really a larger than life presence.
• 1:30:43
  Speaker 1: He had this he has this presence about him that
• 1:30:46
  Speaker 1: was big and impressive, and that was great. All right, guys,
• 1:30:53
  Speaker 1: Thank you greatful bringing that attention. Thank you guys to
• 1:30:57
  Speaker 1: all the super chatters. Hopefully the weather gets really bad
• 1:31:00
  Speaker 1: tomorrow so we can make up on the super chat.
• 1:31:05
  Speaker 1: I will see you guys, also a few questions, so
• 1:31:10
  Speaker 1: short of shows, I will see you guys tomorrow an
• 1:31:15
  Speaker 1: hour earlier, probably at three pm. And yeah, have a
• 1:31:23
  Speaker 1: great rest of your day and a great rest of
• 1:31:25
  Speaker 1: the week. Bye, everybody.