Latest / Breaking Points with Krystal and Saagar / 5/14/26: Trump Glazes Xi At China Summit, Fox News Shocked By China Tech, China Plans Arms Sales To Iran

Transcript

5/14/26: Trump Glazes Xi At China Summit, Fox News Shocked By China Tech, China Plans Arms Sales To Iran · Breaking Points with Krystal and Saagar

• 0:00
  Speaker 1: Hey guys, Saga and Crystal here.
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  Speaker 1: dot com. Good morning, everybody, Happy Thursday. I have an
• 0:35
  Speaker 1: amazing show for everybody today. When do we have Crystal,
• 0:37
  Speaker 1: Indeed we do.
• 0:37
  Speaker 2: We've got breaking news this morning on Trump's big trip
• 0:40
  Speaker 2: to China. We've got statements from both him and President
• 0:43
  Speaker 2: and she the competing redouns what we can read into
• 0:47
  Speaker 2: what if anything, is coming out of this meeting. We're
• 0:50
  Speaker 2: also going to take a look at what it all
• 0:52
  Speaker 2: means for the war in Iran, which obviously very significant
• 0:55
  Speaker 2: topic there as well. Another key inflation rating came in
• 0:59
  Speaker 2: very very hot as signs of trouble in the economy
• 1:02
  Speaker 2: continue to mount. American test scores of American children at
• 1:06
  Speaker 2: the third grade level have significantly fallen over the past decade.
• 1:10
  Speaker 2: Very troubling trend. We'll take a look at what is
• 1:12
  Speaker 2: going on there. Maha is in shambles after Trump makes
• 1:16
  Speaker 2: a corrupt deal with Big Tobacco that I'm.
• 1:18
  Speaker 3: Kind of low key on the side of Big Tobacco
• 1:20
  Speaker 3: on this one. I think Zaga as well.
• 1:23
  Speaker 1: We'll expect this one.
• 1:24
  Speaker 3: Yeah, it was very corrupt and disgusting. It was the
• 1:27
  Speaker 3: way it was done.
• 1:28
  Speaker 1: It was a good outcome, bad way that it went down.
• 1:31
  Speaker 1: But it is revealed what you were saying about Maha
• 1:33
  Speaker 1: is the most important thing is Maha has just taken
• 1:35
  Speaker 1: L after L.
• 1:36
  Speaker 2: Yeah, completely completely irrelevant at this point. And we've got
• 1:39
  Speaker 2: a great guest on to talk about AI, who is
• 1:41
  Speaker 2: a former aid to AOC and is really made developing
• 1:44
  Speaker 2: some sort of a new AI consensus a major part
• 1:48
  Speaker 2: of his thinking. And we're going to get him to
• 1:49
  Speaker 2: react to this clip of Tucker Carlson versus Kevin O'Leary
• 1:53
  Speaker 2: on data centers that you guys are going to really
• 1:55
  Speaker 2: enjoy it.
• 1:55
  Speaker 1: These that I really enjoyed it, certainly something from mister wonderful.
• 1:59
  Speaker 1: Thank you everybody's debscribing to the Showbreakingpoints dot com if
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• 2:09
  Speaker 1: where you are watching this. Let's go ahead and start,
• 2:11
  Speaker 1: as you said, with President Trump's arrival in China. So
• 2:15
  Speaker 1: a lot of this happened overnight while we were asleep.
• 2:17
  Speaker 1: So we're reacting to what we have so far. They're
• 2:19
  Speaker 1: actually sitting down at dinner, and if anything comes from that,
• 2:21
  Speaker 1: we will bring some of that to you. So here
• 2:24
  Speaker 1: is Trump's first meeting with President She in the Hall
• 2:27
  Speaker 1: of the People in China, where he gives him just
• 2:30
  Speaker 1: a real tongue bath. I think it's no other way
• 2:35
  Speaker 1: but true glazing here from Trump to President She. Let's
• 2:38
  Speaker 1: take a listen.
• 2:39
  Speaker 4: You and I have known each other now for a
• 2:41
  Speaker 4: long time. In fact, the longest relationship of our two
• 2:46
  Speaker 4: countries that any president and president has had, and that's
• 2:51
  Speaker 4: to me an honor. We've had a fantastic relationship. We've
• 2:55
  Speaker 4: gotten along.
• 2:55
  Speaker 1: When they were.
• 2:56
  Speaker 4: Difficulties, we worked it out. I would call you and
• 2:59
  Speaker 4: you would call me. And whenever we had a problem.
• 3:02
  Speaker 4: People don't know. Whenever we had a problem, we worked
• 3:05
  Speaker 4: at very quickly. We're going to have a fantastic future together.
• 3:11
  Speaker 4: Such respect for China, the job you've done. You're a
• 3:15
  Speaker 4: great leader. I say it to everybody. You're a great leader.
• 3:18
  Speaker 4: Sometimes people don't like me saying it, but I say
• 3:20
  Speaker 4: it anyway because it's true. I only say the truth.
• 3:24
  Speaker 4: And I just want to say on behalf of all
• 3:26
  Speaker 4: of the great delegation that we have, we have the
• 3:29
  Speaker 4: greatest businessman, the biggest and I guess the best in
• 3:32
  Speaker 4: the world. We have amazing people and they're all with me.
• 3:35
  Speaker 4: They every single one of them. We asked the top
• 3:39
  Speaker 4: thirty in the world. Every single one of them said yes.
• 3:43
  Speaker 4: And I didn't want the second or the third in
• 3:45
  Speaker 4: the company. I wanted only the top. And they're here
• 3:48
  Speaker 4: today to pay respects to you and to China, and
• 3:51
  Speaker 4: they look forward to trade and doing business and it's
• 3:55
  Speaker 4: going to be totally reciprocal on our behalf.
• 3:58
  Speaker 1: Trump's opening statement there key theme of the show yesterday
• 4:01
  Speaker 1: with Professor Pape and with Andy Brown over at Semiphore
• 4:04
  Speaker 1: was his wanting a deal. That's what a lot of
• 4:07
  Speaker 1: this is about. Now. So far from the readouts, we
• 4:09
  Speaker 1: haven't gotten anything very specific. But it's not an accident
• 4:12
  Speaker 1: to have Jensen Wang, to have Elon Musk, to have
• 4:14
  Speaker 1: the CEO of Goldman, the CEO of City, the CEO
• 4:17
  Speaker 1: of Cargill, all these people that are there. This is
• 4:19
  Speaker 1: a trade mission. This is a nineteenth century trade mission.
• 4:22
  Speaker 1: The oligarchs and the capitalists accompany the monarchs along to
• 4:26
  Speaker 1: experience and to plunder the riches of the Orient. That's
• 4:29
  Speaker 1: really except we're probably the ones getting plundered in this scenario.
• 4:33
  Speaker 1: So that's I mean, it's pretty clear Trump needs this
• 4:37
  Speaker 1: to go smoothly, and more importantly, he needs some sort
• 4:41
  Speaker 1: of economic win. Now. Usually the way that this would
• 4:44
  Speaker 1: work in a traditional administration is that for months leading
• 4:48
  Speaker 1: up to this, American envoys would be in China and
• 4:50
  Speaker 1: they'd be working out these memorandums of understanding, and then
• 4:53
  Speaker 1: Trump and Chi go to the Forbidden City and they
• 4:56
  Speaker 1: shake hands and they sign a piece of paper. That's
• 4:58
  Speaker 1: not how this president operates. A lot of this is
• 5:00
  Speaker 1: actually going to be discussed face to face. Vague you know, Oh,
• 5:03
  Speaker 1: China has agreed to invest three thousand trillion dollars into
• 5:08
  Speaker 1: our economy. So it is a little bit of a
• 5:10
  Speaker 1: wild card. But so far, the obsequiousness and the level
• 5:13
  Speaker 1: of respect that Trump is offering to sheet this is
• 5:16
  Speaker 1: it's not just a negotiation, like he really does need
• 5:19
  Speaker 1: a lot from him. He needs him to save his
• 5:21
  Speaker 1: economic skin. He wants to stock market and all these
• 5:23
  Speaker 1: other things to continue to go up. And it's also
• 5:25
  Speaker 1: becoming clear they really need them. On China are sorry
• 5:28
  Speaker 1: are to Iran? Is that there are multiple statements are
• 5:31
  Speaker 1: from the Secretary of State and Donald Trump about how Iran,
• 5:34
  Speaker 1: while they claim was not going to be a significant
• 5:36
  Speaker 1: part of this, it absolutely.
• 5:37
  Speaker 2: Is, oh, one hundred percent, because we're screwed in Iran
• 5:41
  Speaker 2: and we're hoping that China's going to bail us out
• 5:43
  Speaker 2: and they're not going to, by the way. And so
• 5:46
  Speaker 2: so far, what you can say about this trip is
• 5:48
  Speaker 2: there hasn't been much that came out of it. China
• 5:51
  Speaker 2: issued a warning over Taiwan. We're going to show in
• 5:54
  Speaker 2: a little bit. Trump was asked a question about Taiwan,
• 5:56
  Speaker 2: didn't even respond, you've got dueling readouts here can actually
• 5:59
  Speaker 2: put a a zero c It looks like aoc A zero.
• 6:02
  Speaker 3: C up on the screen.
• 6:04
  Speaker 2: This is the White House is readout at least the
• 6:07
  Speaker 2: sort of key details discussed ways to enhance economic cooperation,
• 6:10
  Speaker 2: expanding market access for US businesses. This is going to
• 6:13
  Speaker 2: be the best basically that Trump is able to get
• 6:15
  Speaker 2: out of it, which is why he brought all of
• 6:16
  Speaker 2: these oligarchs along with him, says Oh Elon gets a deal,
• 6:19
  Speaker 2: and Densen Wang gets a deal, and Tim tim Apple
• 6:22
  Speaker 2: gets a deal, et cetera. Discussed increasing Chinese purchases of
• 6:26
  Speaker 2: US agricultural goods. If that happens, that would be very important.
• 6:29
  Speaker 2: We've had those agreements before though, where China's just like, yeah,
• 6:31
  Speaker 2: we're actually not going to follow through on that. Ending
• 6:34
  Speaker 2: the flow of fentanyl precursors. Again, this is something that
• 6:36
  Speaker 2: has long been negotiated to agreed. The strait of horr
• 6:41
  Speaker 2: moves must remain open. Now, that is very interesting language,
• 6:45
  Speaker 2: because according to the Iranians, they say, hey, it is
• 6:47
  Speaker 2: open from our perspective, you just have to follow our procedure.
• 6:50
  Speaker 3: So the fact that language is love very.
• 6:52
  Speaker 2: Vague does not mean there's an actual meeting of the
• 6:54
  Speaker 2: minds over the Strait of hormuves she made clear at
• 6:56
  Speaker 2: China's opposition to the militarization of the Strait and all
• 7:00
  Speaker 2: she expressed interest in purchasing war US oil, and both
• 7:03
  Speaker 2: agreed Iran can never have a nuclear weapon. No mention
• 7:07
  Speaker 2: you note there of Taiwan. Nick Schiffrin, whos FOREIG Affairs
• 7:11
  Speaker 2: and Defense correspondent for News Hour, pointed out some of
• 7:13
  Speaker 2: the differences between US and China's readouts. So China's readount
• 7:17
  Speaker 2: does include a stark warning over Taiwan, as I just mentioned,
• 7:20
  Speaker 2: US readout doesn't mention Taiwan whatsoever, emphasizes business, saying China
• 7:25
  Speaker 2: will buy more agricultural products, and the two sides discussed
• 7:27
  Speaker 2: ways to enhance economic cooperation, mentions cooperation over fentanyl, and
• 7:31
  Speaker 2: says she made clear China's opposition to the militarization of
• 7:35
  Speaker 2: the Straight Those were not the things that were emphasized
• 7:38
  Speaker 2: in the Chinese readout. But the most key difference here
• 7:40
  Speaker 2: is on Taiwan, where she really wanted to push the
• 7:45
  Speaker 2: US on our position with regards to defending, potentially defending
• 7:49
  Speaker 2: Taiwan and arming Taiwan. Wanted us to dial that back.
• 7:52
  Speaker 2: He's in a position of strength right now. We are
• 7:55
  Speaker 2: an incredible position of weakness thanks to Donald Trump, and
• 7:58
  Speaker 2: especially thanks to his foolish war with the Ran. So
• 8:01
  Speaker 2: you know, the best Trump could do is just not
• 8:03
  Speaker 2: say anything about it whatsoever. But bottom line thus far
• 8:07
  Speaker 2: is because of the weak position that we come in with,
• 8:10
  Speaker 2: there doesn't appear to be a lot that is going
• 8:13
  Speaker 2: to come out of this. And it's also worth remembering, Sager,
• 8:17
  Speaker 2: this meeting was supposed to happen a while back, and
• 8:19
  Speaker 2: it got postponed because of the disastrous.
• 8:23
  Speaker 3: War in Iran.
• 8:23
  Speaker 2: I think Trump originally thought the war with Iran wud
• 8:25
  Speaker 2: be over in a couple of days. He could come
• 8:27
  Speaker 2: flying into Beijing, you know, saying, look, we did this
• 8:30
  Speaker 2: with Venezuela, we did with his Iran.
• 8:32
  Speaker 3: Yeah, we're great cogers.
• 8:33
  Speaker 2: We have all these natural resources now on our side.
• 8:35
  Speaker 2: We can do what we want around the globe. Instead,
• 8:38
  Speaker 2: this is you know, he's having to come in with
• 8:40
  Speaker 2: his tail between his legs, basically humiliated, and with the
• 8:43
  Speaker 2: whole world having seen that the cupboards bear, you know,
• 8:48
  Speaker 2: having seen the wizard behind the curtain, because we do
• 8:52
  Speaker 2: not have the ability to project power that most of
• 8:55
  Speaker 2: the world thought that we did, and have been completely
• 8:58
  Speaker 2: checkmated with regards to Iran.
• 9:00
  Speaker 1: Right, And it's not just us saying as it's the
• 9:02
  Speaker 1: Chairman of the Joint Chiefs of Staff as well. But
• 9:04
  Speaker 1: let's also take a very close listen to something that
• 9:07
  Speaker 1: was put out by Shishiping from his official translation, a
• 9:10
  Speaker 1: warning about the Thucidities trap. Let's take a listen.
• 9:13
  Speaker 5: The whole world is watching our meeting. Currently, transformation not
• 9:21
  Speaker 5: seen in a century is accelerating across the globe, and
• 9:25
  Speaker 5: the international situation is fluid and turbulent. The world has
• 9:29
  Speaker 5: come to a new crossroads. Can China and the United
• 9:33
  Speaker 5: States overcome the Thucydides trap and create a new paradigm
• 9:41
  Speaker 5: of major country relations? Can we meet global challenges together
• 9:48
  Speaker 5: and provide more stability for the world.
• 9:51
  Speaker 1: Trump's like, oh yes, Trump, yess trap. I remember reading
• 9:57
  Speaker 1: about that.
• 9:57
  Speaker 3: I thought deeply about.
• 10:00
  Speaker 1: For those of you who don't know Thucidity's trap, I
• 10:04
  Speaker 1: think we had a whole unit on it back in
• 10:06
  Speaker 1: graduate school. It's Graham Allison. It stems back to the
• 10:11
  Speaker 1: potent or the war between Athens and Sparta, and the
• 10:14
  Speaker 1: idea was that Athens was like the rising Sorry. Athens
• 10:19
  Speaker 1: was the established commercial power and Sparta the rising war state,
• 10:23
  Speaker 1: and that eventually culminated in a war which weakened both powers.
• 10:26
  Speaker 1: And that's the trap. The trap, the idea that war
• 10:29
  Speaker 1: was inevitable between the two states, and that made it
• 10:32
  Speaker 1: so that a war that was actually bad for both
• 10:35
  Speaker 1: powers ended up becoming the trap itself. So this has
• 10:38
  Speaker 1: actually long kind of been part of Chinese strategic thinking
• 10:41
  Speaker 1: and something they emphasize a lot. I also remember this,
• 10:44
  Speaker 1: the Chinese are the master not a double speak per se,
• 10:47
  Speaker 1: but when they say things like we opposed militarization of
• 10:51
  Speaker 1: the Straits of Hormuz. There's two military powers in the
• 10:54
  Speaker 1: streets and where there's a blockaded the streets of hormuves
• 10:56
  Speaker 1: and Iran. So you may read that as oh, well
• 10:59
  Speaker 1: they have Iranian. They're like, no, no, no, no, that's not
• 11:02
  Speaker 1: what we said. What we said is we oppose militarization
• 11:05
  Speaker 1: in the Straits of Hormus. They also they love this
• 11:08
  Speaker 1: language where they'll call it like mutual respect. Well, mutual
• 11:11
  Speaker 1: respect means we don't tell you what to do, you
• 11:14
  Speaker 1: don't tell us what to do. It's not as relevant
• 11:16
  Speaker 1: now under the Trump administration. Nobody's finger wagon over human
• 11:19
  Speaker 1: rights in China. That's like very nineteen nineties coded, but
• 11:22
  Speaker 1: these days, like what effectively what it means is there?
• 11:27
  Speaker 1: They'll say things like, well, you need to have mutual
• 11:29
  Speaker 1: respect in spheres of influence. Well what does that mean.
• 11:32
  Speaker 1: It's like, well, swears of influence includes the whole South China,
• 11:35
  Speaker 1: see right, and so like that means an acceptance of
• 11:37
  Speaker 1: the nine dash line, or you know, South Korea and Japan,
• 11:41
  Speaker 1: like they're in the same way. When we'll say things
• 11:44
  Speaker 1: about the Donro doctrine or something like that, they have
• 11:47
  Speaker 1: their own policy, right, So you just have to read
• 11:49
  Speaker 1: between the lines. I actually thought the most unambiguous red
• 11:56
  Speaker 1: lines came from the Chinese embassy. Let's put a three
• 11:59
  Speaker 1: up on the screen. This was released ahead of Trump's
• 12:03
  Speaker 1: visit from the or the Chinese embassy here in the
• 12:06
  Speaker 1: United States, and they put out this graphic the four
• 12:08
  Speaker 1: red lines in China US relations. They must not be
• 12:11
  Speaker 1: a challenge. Number One the Taiwan question. Now, remember when
• 12:14
  Speaker 1: they say the Taiwan question, what they mean is that
• 12:17
  Speaker 1: their reunification is the policy, the actual one China policy.
• 12:22
  Speaker 1: Number two democracy and human rights, which means don't tell
• 12:25
  Speaker 1: us what to do with wigers with Hong Kong or
• 12:28
  Speaker 1: anything else. That's just how it is. Keep your mouth shut.
• 12:31
  Speaker 1: Number three paths and political systems. So I would ask
• 12:35
  Speaker 1: a friend effectively, and he's like a Chinese US kind
• 12:40
  Speaker 1: of analyst. And what he said is that pats and
• 12:43
  Speaker 1: political systems kind of links with democracy and human rights,
• 12:47
  Speaker 1: as in there should be no criticism of lack of
• 12:51
  Speaker 1: democracy or of basically like, do not don't push us
• 12:56
  Speaker 1: towards a liberal demomer right, don't try to push us
• 12:58
  Speaker 1: towards a liberal democracy. It kind of gets to that
• 13:00
  Speaker 1: mutual respect. We have our system, you have your system.
• 13:02
  Speaker 1: Let's just keep it how it is. We're not going
• 13:04
  Speaker 1: to tell you what to do. We're not going to
• 13:05
  Speaker 1: tell us what to do. And then China's development right
• 13:08
  Speaker 1: similar it's one of those where you shouldn't be messing
• 13:11
  Speaker 1: with their internal affairs and the ability of them to
• 13:14
  Speaker 1: conduct commerce. I believe, and this is what he said
• 13:17
  Speaker 1: when reading between the lines, is that they are still
• 13:20
  Speaker 1: very upset over many of the sanctions on Chinese companies.
• 13:24
  Speaker 1: And remember, if you read between the lines of all
• 13:26
  Speaker 1: of these things, it's about mutual respect. It's also about Taiwan.
• 13:29
  Speaker 1: But the second or the tertiary. Really thing that they
• 13:32
  Speaker 1: really want is they're salivating at the entrance of the
• 13:35
  Speaker 1: US consumer market for their goods with they're not currently
• 13:39
  Speaker 1: able to sell here, which is autos. So that was
• 13:41
  Speaker 1: a big, big thing that they've been trying to get
• 13:43
  Speaker 1: into US markets now for some time. I think you
• 13:46
  Speaker 1: put all those together and you could see very clearly,
• 13:49
  Speaker 1: like what they want out of the summit, what Trump wants.
• 13:53
  Speaker 1: I just think generally, it's like you said, considering the
• 13:56
  Speaker 1: position of the United States, we're really distracted because of
• 13:59
  Speaker 1: what happened here with Iran, and it's just created like
• 14:04
  Speaker 1: such a disaster for them in the ability to it
• 14:08
  Speaker 1: gives it such a disaster on the part of the
• 14:10
  Speaker 1: United States to meet them. It's a time of such
• 14:12
  Speaker 1: incredible weakness. Like I'm trying to think of a previous
• 14:17
  Speaker 1: historic peril, I really can't. I mean, in terms, maybe
• 14:20
  Speaker 1: the only one would be some bilateral negotiations between the
• 14:24
  Speaker 1: US and the Soviet Union the height of the Vietnam War.
• 14:27
  Speaker 1: That's really the last time that something of this level
• 14:29
  Speaker 1: of consequence is happening in Iran. And I know something's
• 14:32
  Speaker 1: not popping off every day, but look, the price of
• 14:34
  Speaker 1: oil is where it's at, and the defeat has happened. Strategically,
• 14:37
  Speaker 1: it's over at this point. Now you may have to invade,
• 14:40
  Speaker 1: or you know, there may be some sort of escalation
• 14:42
  Speaker 1: or maybe even some sort of a deal. But no
• 14:44
  Speaker 1: matter which way you cut it, like from the day
• 14:46
  Speaker 1: one of the war to where we ended up some
• 14:48
  Speaker 1: thirty whatever days later with the announcement of the ceasefire,
• 14:51
  Speaker 1: you can't say that it didn't fail. It's just complete
• 14:53
  Speaker 1: and total failure.
• 14:54
  Speaker 3: Absolutely.
• 14:55
  Speaker 2: Yeah, when I've got Neo Khon extraordinary Bob Kavid Kagan
• 14:58
  Speaker 2: out there saying that's the worst defeat for the the
• 15:00
  Speaker 2: US in its history, you know, and see.
• 15:02
  Speaker 1: I think Vietnam was worse.
• 15:04
  Speaker 3: Do you think so?
• 15:04
  Speaker 1: I do, because from the US perspective, Not to get
• 15:08
  Speaker 1: too bogged down, but it really ripped the country apart,
• 15:11
  Speaker 1: like in a you know, we had the draft, it
• 15:14
  Speaker 1: rewrote the way that we had all of our military power.
• 15:16
  Speaker 1: Fifty thousand Americans were killed. It also it was a
• 15:20
  Speaker 1: sucking of all of the any of the potential promise
• 15:24
  Speaker 1: of what the post civil rights era kind of could
• 15:27
  Speaker 1: have been. Yeah, all the money that was wasted, the
• 15:31
  Speaker 1: dividends that were being wrought from the post World War
• 15:34
  Speaker 1: two era, which all could have been spent to make
• 15:36
  Speaker 1: the nineteen seventies actually a great period, Like it was bad,
• 15:40
  Speaker 1: it really was.
• 15:41
  Speaker 2: Yeah, I think that's in terms of the domestic effect.
• 15:43
  Speaker 2: I mean, on the other hand, we're already like divided
• 15:46
  Speaker 2: in the way that it would be difficult to divide
• 15:48
  Speaker 2: us further and create more sort of domestic political chaos
• 15:52
  Speaker 2: than what we already have. I would say that his
• 15:55
  Speaker 2: argument has merit simply because out of this it really
• 15:58
  Speaker 2: is sort of a nail in the coffe and of
• 16:00
  Speaker 2: the US empire and is changing the global world order.
• 16:03
  Speaker 2: Whereas Vietnam was a disaster for the US, but at
• 16:06
  Speaker 2: the end of the day, we did.
• 16:07
  Speaker 3: Win the Cold War.
• 16:08
  Speaker 2: You know, it did fundamentally completely shift the dynamics of
• 16:11
  Speaker 2: the global world. Or yes, it exposed weaknesses and vulnerabilities,
• 16:16
  Speaker 2: but again, you know, ultimately we were successful in destroying
• 16:19
  Speaker 2: the Soviet Union, coming out on top there. Whereas with this,
• 16:23
  Speaker 2: you know, we're already this very clearly declining empire, and we.
• 16:28
  Speaker 3: Just showed our ass.
• 16:29
  Speaker 2: You know, we just really revealed to the world how
• 16:32
  Speaker 2: weak we are that even with a you know, middle
• 16:35
  Speaker 2: income power like Iran, that we could not succeed on
• 16:41
  Speaker 2: the most basic level, We could not achieve literally any
• 16:44
  Speaker 2: of our goals there. And you know in our ally
• 16:48
  Speaker 2: Israel also is exposed here too. So it's I think
• 16:52
  Speaker 2: there is merit to the argument because of that, But.
• 16:54
  Speaker 1: I don't reject yeah whatsoever. In fact, if I look
• 16:57
  Speaker 1: at it from a Chinese perspective, they're going to care
• 16:59
  Speaker 1: much more about what happened with Iran because of all
• 17:01
  Speaker 1: of the naval power. In a sense, you know, it's
• 17:04
  Speaker 1: almost like parse, you know, it's like you're almost like
• 17:07
  Speaker 1: parsing two disastrous things in and of itself. They're both
• 17:11
  Speaker 1: horrific defeats for the US. I actually think this is fascinating.
• 17:15
  Speaker 1: Let's put a nine up here on the screen. Chair
• 17:18
  Speaker 1: from the Joint Chiefs of Staff. A new intelligence report
• 17:22
  Speaker 1: from the Chairman of the Joint Chiefs says that China
• 17:25
  Speaker 1: has gained a major edge on the US amid the
• 17:28
  Speaker 1: Iran War. Confidential US intelligence analysis details how China is
• 17:32
  Speaker 1: exploiting the war to maximize advantage over the US in military, economic, diplomatic,
• 17:37
  Speaker 1: and other fields. The assessment, produced this week for the
• 17:40
  Speaker 1: Chairman has raised alarm within the Pentagon about the geopolitical
• 17:44
  Speaker 1: costs of Washington's standoff with Tehran. Produced by the Intelligence Directorate,
• 17:48
  Speaker 1: the report uses what's used as a dime framework, looking
• 17:52
  Speaker 1: at diplomatic, international, military, and economic power. Officials asked about
• 17:56
  Speaker 1: the finding of talked about, you know the anonymity since
• 17:59
  Speaker 1: the US and Israel, we'll initiated the war. China has
• 18:01
  Speaker 1: then sold weapons to golf allies of the US as
• 18:05
  Speaker 1: they struggle to defend their military basis. Beijing has assisted
• 18:08
  Speaker 1: countries around the world struggling to meet their energy needs
• 18:10
  Speaker 1: after the US is Really attacks prompted Iran to close
• 18:13
  Speaker 1: the straits overmus The war has drained the US massive
• 18:16
  Speaker 1: stock piles of munitions that would be critical in any
• 18:20
  Speaker 1: standoff with China over the fate of Taiwan. The Iran conflict,
• 18:23
  Speaker 1: which has resulted in the damage or destruction of US
• 18:26
  Speaker 1: military hardware, has allowed Beijing to observe how the US
• 18:29
  Speaker 1: fights wars and learn how to plan its own future operations,
• 18:32
  Speaker 1: and Beijing has now incorporated popular criticisms of the war
• 18:36
  Speaker 1: into its public messaging, labeling the conflict illegal. China has
• 18:39
  Speaker 1: long sought to undermine the image of the US as
• 18:42
  Speaker 1: a responsible steward of the US reals based international order.
• 18:45
  Speaker 1: I don't think they had needed to seek anything whenever,
• 18:48
  Speaker 1: for that it views the Iran as a conflict as
• 18:51
  Speaker 1: emblematic of Washington's cavalier approach to military hostilities. So look,
• 18:56
  Speaker 1: none of this is groundbreaking if you watch the show,
• 19:00
  Speaker 1: We've heard it every single day since the war began.
• 19:03
  Speaker 1: But still for a Pentagon assessment like that to make
• 19:07
  Speaker 1: its way up to the Chairman to eventually be presented,
• 19:10
  Speaker 1: at least technically it's supposed to be presented in some
• 19:13
  Speaker 1: foreign to the President of the United States. Someday in
• 19:16
  Speaker 1: the future, we'll have our own Pentagon papers. I'm sure
• 19:18
  Speaker 1: they're going to cover this shit up. But ten years
• 19:20
  Speaker 1: from now we can go and we can read. I
• 19:22
  Speaker 1: cannot wait until there's an actual declassification or leak. For
• 19:27
  Speaker 1: any potential Elsberg out there, please contact me about what
• 19:30
  Speaker 1: those assessments in the middle of the war on. Can
• 19:33
  Speaker 1: you imagine ten days in they're going to be like,
• 19:35
  Speaker 1: we have not been able to accomplish our strategic objectives.
• 19:37
  Speaker 1: We've been hit at all of these bases, We've run
• 19:39
  Speaker 1: out of this number of munitions. China is doing this
• 19:42
  Speaker 1: this and this it is And you know, I'm almost
• 19:44
  Speaker 1: talking myself into my out of my previous point about Vietnam,
• 19:48
  Speaker 1: Like it is so stunning to see it all happen.
• 19:51
  Speaker 1: And I know it sounds hyperbolic, but this really is
• 19:55
  Speaker 1: a This is the greatest disaster of my lifetime. And Iraq.
• 19:59
  Speaker 1: I never thought it would I never thought we could potentially,
• 20:03
  Speaker 1: you know, do something worse than that. And to a
• 20:06
  Speaker 1: lot of people who were watching, they're going to say,
• 20:08
  Speaker 1: that's ridiculous. This has only been happening for seventy four days,
• 20:12
  Speaker 1: only thirteen American side. I hear you. But at the
• 20:15
  Speaker 1: end of the day, this this, that was a conflict
• 20:18
  Speaker 1: which did not rewrite the actual ability of the United
• 20:23
  Speaker 1: States to project power. You know, we did defeat Saddam,
• 20:26
  Speaker 1: we did occupy the country. Yes, the insurgency and all
• 20:29
  Speaker 1: that was bad and exposed a lot of problems about
• 20:31
  Speaker 1: the military. In this case, we're talking about the highest
• 20:34
  Speaker 1: most tech, you know, the high tech weapons of all time,
• 20:36
  Speaker 1: the full force of the United States Navy, the full
• 20:39
  Speaker 1: force of the US Air Force, and seventy percent of
• 20:42
  Speaker 1: Iranian ballistic missile still survive. I mean, nobody thought that
• 20:45
  Speaker 1: was me. I didn't ask on February twenty seventh, I
• 20:48
  Speaker 1: would say there's no way that that's possible, right, and
• 20:50
  Speaker 1: most people would not say and yet, and that's based on.
• 20:53
  Speaker 2: Our being leaked to our prece right from our own
• 20:56
  Speaker 2: intelligence community, and the Iranians are asserting, actually, we're basically
• 21:00
  Speaker 2: how we were when we started. We've been able to
• 21:02
  Speaker 2: during this period restock, resupply, but there's no doubt. I mean,
• 21:06
  Speaker 2: all this stuff, oh they're completely military obliterated on day one,
• 21:09
  Speaker 2: is just utter and complete bullshit.
• 21:11
  Speaker 1: I don't know. I mean, I just you know when
• 21:13
  Speaker 1: I assess it, And it's such a grand strategic yeahl
• 21:16
  Speaker 1: if you were to think about that, like the meeting
• 21:17
  Speaker 1: and these two superpowers, the defeat really that we've suffered,
• 21:21
  Speaker 1: the inability to change the regime from the air. We
• 21:24
  Speaker 1: knew that was going to happen, but at the very
• 21:25
  Speaker 1: least we thought we would be able to militarily wipe
• 21:27
  Speaker 1: them out. Didn't happen. It just did not happen. The
• 21:30
  Speaker 1: drone threat, the asymmetry of these high tech weapons systems,
• 21:34
  Speaker 1: the lack of our defense industrial base, the inability of
• 21:37
  Speaker 1: our sanctions to properly be able to cripple this country.
• 21:40
  Speaker 1: I mean, look, if we've been doing this now for
• 21:42
  Speaker 1: so long, all the warning signs were there. The munition's problem.
• 21:45
  Speaker 1: Been talking about it literally for years about whenever it
• 21:47
  Speaker 1: came to Ukraine. Remember the Russia sanctions debate that we
• 21:50
  Speaker 1: often had here on the show. I was like, Hey,
• 21:53
  Speaker 1: this is going to be a real problem if we
• 21:54
  Speaker 1: ever get into a conflict with China, because they are
• 21:56
  Speaker 1: able to look and to study all what's happening. They did,
• 21:59
  Speaker 1: they been able to prove themselves. And then really the
• 22:02
  Speaker 1: more metapoint is we spent vaporized probably fifty billion dollars
• 22:07
  Speaker 1: so far. Take a look at that country. It's doing
• 22:10
  Speaker 1: pretty well, and it's one of those where this is
• 22:12
  Speaker 1: not you know, I don't feel good saying this, but
• 22:15
  Speaker 1: it's just unambiguous, Like the quality of life there from
• 22:18
  Speaker 1: ten years ago is not even comparable to the quality
• 22:22
  Speaker 1: of life increase there, not even comparable twenty alleged s
• 22:26
  Speaker 1: and P five hundred gains that have happened here. If
• 22:28
  Speaker 1: anything has gotten worse, I think it's gotten worse. I
• 22:31
  Speaker 1: think it's gotten worse.
• 22:32
  Speaker 2: Yeah, I hearing those people will I would agree with
• 22:34
  Speaker 2: you on that, and even We're going to do this
• 22:35
  Speaker 2: segment later about like American test scores falling off.
• 22:38
  Speaker 3: I mean, that's part of it, right, it is.
• 22:40
  Speaker 2: It's part of a trend of you know, in previous
• 22:43
  Speaker 2: generations you could buy how you can't buy a house.
• 22:45
  Speaker 2: In previous generations, you can afford healthcare. You can't afford
• 22:47
  Speaker 2: healthcare anymore. You know, in previous generations, kids were reading
• 22:50
  Speaker 2: when they were in third grade.
• 22:51
  Speaker 3: Now not so much. It's on every metric.
• 22:54
  Speaker 2: You just see this backward slide, and the stock market
• 22:57
  Speaker 2: for most people is irrelevant. I mean, if anything, it's
• 23:00
  Speaker 2: a slap in the face, another reminder that yeah, they're
• 23:02
  Speaker 2: richer getting richer, and you're getting screwed and your kid's
• 23:04
  Speaker 2: prospects are being robbed every single day. I think probably
• 23:11
  Speaker 2: the biggest outcome of this meeting is going to be
• 23:13
  Speaker 2: a lot of Fox News Grandma's realizing just how behind
• 23:16
  Speaker 2: we are technology, how much more advanced China is at
• 23:19
  Speaker 2: this point, because Bear is there on the ground doing
• 23:22
  Speaker 2: all this, like on the ground reporting.
• 23:24
  Speaker 3: One of the big things. They made a big.
• 23:26
  Speaker 2: Deal about the fact they illegally parked for two minutes
• 23:28
  Speaker 2: and got a ticket right away, which you know, for
• 23:30
  Speaker 2: the law and order people.
• 23:30
  Speaker 3: They should be happy about.
• 23:31
  Speaker 1: It is great dream.
• 23:33
  Speaker 3: I knew you would like that.
• 23:34
  Speaker 2: Yeah, if Valenteer was doing it here, they'd be celebrating
• 23:37
  Speaker 2: this marvel of efficiency.
• 23:38
  Speaker 3: But since it's China, it's the authoritary that is.
• 23:40
  Speaker 1: My dream is to ticket these illegal parkers, red light runners.
• 23:45
  Speaker 1: Some kid rang my doorbell the other day with no solictening.
• 23:48
  Speaker 1: I like this motherfucker.
• 23:50
  Speaker 2: You know, it's like buddy, such a crunchy old man.
• 23:53
  Speaker 2: But in any case, he also went to one of
• 23:56
  Speaker 2: these like just little you said, this is sort of
• 23:58
  Speaker 2: like a seven to eleven competitive and they have the
• 24:02
  Speaker 2: humanoid autonomous robots there that are like serving the goods,
• 24:06
  Speaker 2: and so this was all you know, broadcast to Fox
• 24:08
  Speaker 2: News audience.
• 24:09
  Speaker 3: This is a ten. Let's go ahead and take a
• 24:11
  Speaker 3: look at this.
• 24:11
  Speaker 6: From breadbare our food order to a very special worker.
• 24:16
  Speaker 6: This is the Family More convenience store in Beijing. Inside
• 24:20
  Speaker 6: is a galbot robot. The dominance of Ai. Beijing is
• 24:24
  Speaker 6: trying to lead the way in AI and also in
• 24:28
  Speaker 6: humanoid robots. It's Gwincide. This is the first of its
• 24:31
  Speaker 6: kind for this kind of interaction. If you want to
• 24:35
  Speaker 6: order something, hello, can I get a sausage please.
• 24:41
  Speaker 1: Okay, cawchon eighty point you on.
• 24:44
  Speaker 6: This is the first of its kind, moving a little slow,
• 24:47
  Speaker 6: but galbot is actually in fifty different pharmacies warehouses handling
• 24:52
  Speaker 6: three hundred thousand orders around the country.
• 24:55
  Speaker 1: This is the first of it's kind.
• 24:56
  Speaker 6: Here and they say they are going to be many
• 24:59
  Speaker 6: different iter the question is it's the same thing that
• 25:02
  Speaker 6: the US is dealing with. Will this replace human workers?
• 25:08
  Speaker 2: So yeah, I mean this is an area where they're
• 25:11
  Speaker 2: decidedly ahead of us on the humanoid robot front. And
• 25:15
  Speaker 2: you know my understanding in terms of the attitude towards
• 25:18
  Speaker 2: the population in China versus here on technology, they're much.
• 25:21
  Speaker 3: More enthusiastic in China.
• 25:22
  Speaker 2: There's not the same level of reticence because here we
• 25:25
  Speaker 2: see the way that you.
• 25:26
  Speaker 3: Know, these aioligarchs are trying to screw us and bragging
• 25:28
  Speaker 3: about how they're going to take all our jobs.
• 25:30
  Speaker 1: They just have a different social contract. Yeah, that's the thing.
• 25:33
  Speaker 3: That's exactly right.
• 25:33
  Speaker 2: And there they have really focused on a very different
• 25:37
  Speaker 2: AI strategy too, where yes, they're trying to be at
• 25:40
  Speaker 2: the leading edge and deep Sea has been very successful
• 25:43
  Speaker 2: in other models as well, and much more efficiently, doesn't
• 25:46
  Speaker 2: require the vast amounts of compute and electricity and water
• 25:50
  Speaker 2: and everything that ours is like just this sort of
• 25:52
  Speaker 2: brute force approach.
• 25:54
  Speaker 3: But they've also focused a.
• 25:55
  Speaker 2: Lot on how do we integrate the technology that we
• 25:57
  Speaker 2: have right now into you know, practical uses, so that
• 26:02
  Speaker 2: this is actually being deployed. It is not just some
• 26:05
  Speaker 2: pie in the sky investment for the future, for some
• 26:07
  Speaker 2: future prospect. So in any case, like I said, this
• 26:09
  Speaker 2: is and this is basically what Payp predicted with us yesterday.
• 26:12
  Speaker 2: He's like, you know what's going to come out of
• 26:14
  Speaker 2: this is all of these reporters and politicians are going
• 26:16
  Speaker 2: to go They're going to see the gleaming electric vehicles,
• 26:19
  Speaker 2: They're going to see modern cities, they're going to see
• 26:21
  Speaker 2: advanced technology, and they're going to be floored by it.
• 26:24
  Speaker 2: And the you know, American public, which has been so
• 26:27
  Speaker 2: propagandized about China or any of our any of our adversaries,
• 26:32
  Speaker 2: we'll also see some of this on their television sets
• 26:35
  Speaker 2: of like, oh, it's not the US that's leading the
• 26:38
  Speaker 2: world on every technological front. At this point. You go
• 26:42
  Speaker 2: into these cities and you are seeing things that we
• 26:44
  Speaker 2: do not have here. That is a very different dynamic
• 26:48
  Speaker 2: than what most Americans have in their mind about Chinese.
• 26:50
  Speaker 1: It's very true and okay, so Family Mark, I mean,
• 26:53
  Speaker 1: if you've never been so, it's a Japanese company, Family Mart.
• 26:55
  Speaker 1: It's kind of like seven eleven if you've ever been there.
• 26:58
  Speaker 1: I mean, I just want people to take a look.
• 27:00
  Speaker 1: It's clean, it's nice. There's no like you know, there's
• 27:04
  Speaker 1: no coffee stains that are anywhere. When you order, you
• 27:07
  Speaker 1: get what you want. They don't need a security guard.
• 27:09
  Speaker 1: The idea that anybody would steal is preposterous, right, you know,
• 27:13
  Speaker 1: it's like ludicrous that somebody would try to steal from
• 27:16
  Speaker 1: something like that, and if they do, they're gonna get
• 27:18
  Speaker 1: caught instantly. Now there's a very different social contract. Like
• 27:21
  Speaker 1: I was saying earlier, everybody there acquiesces to an immense
• 27:24
  Speaker 1: amount of digital surveillance. So you were talking about the
• 27:27
  Speaker 1: you know, the immediate ticketing that's happening. That's just like
• 27:30
  Speaker 1: the tip of the iceberg. You know, the ability to
• 27:32
  Speaker 1: cross the street, your face is all being scanned. People
• 27:35
  Speaker 1: make a big deal about social credit, but it actually
• 27:37
  Speaker 1: goes much deeper than that, like the ability to transit
• 27:39
  Speaker 1: even inside of the country, your ability to move between cities,
• 27:43
  Speaker 1: like that's all pretty restricted, or at the very least,
• 27:45
  Speaker 1: like you need permission from somebody. Most Americans would have
• 27:48
  Speaker 1: no ability to acquiesce to that. They have a different
• 27:51
  Speaker 1: culture of than ours. They came a lot of the
• 27:53
  Speaker 1: current people who are alive their generation, they came from
• 27:56
  Speaker 1: the chaos of the Cultural Revolution. And then imagine what
• 28:00
  Speaker 1: air grandparents and others people had to live through genuine poverty,
• 28:04
  Speaker 1: civil war, Japanese World War two, like an immense death
• 28:09
  Speaker 1: and famine. So for them, like order is the thing
• 28:12
  Speaker 1: that must be preserved above all costs, because they have lived.
• 28:16
  Speaker 1: I mean, do you know anybody who died in a famine?
• 28:19
  Speaker 2: No?
• 28:20
  Speaker 1: Over there you probably do know at least somebody who
• 28:23
  Speaker 1: has a relative who did, or who was displaced through
• 28:26
  Speaker 1: mass collectivization, or who was bayoneted by a Japanese soldier
• 28:29
  Speaker 1: or by a CCP soldier or by a you know,
• 28:33
  Speaker 1: I'm totally a KMT soldier something like that. Their country
• 28:37
  Speaker 1: has been basically was in chaos from the year I
• 28:41
  Speaker 1: don't know, even earlier, maybe the eighteen something, all the
• 28:44
  Speaker 1: way up until nineteen seventy or so. So you really
• 28:48
  Speaker 1: I just feel like that's sociological imprint of a generation
• 28:52
  Speaker 1: for where they are today and why they value what
• 28:54
  Speaker 1: they value. I'm not judging it. I can fully empathize
• 28:57
  Speaker 1: and understand how they've come to the place that they are.
• 29:00
  Speaker 3: I would also say there's no doubt the culture.
• 29:01
  Speaker 2: There are cultural differences in different historical experiences that leads
• 29:04
  Speaker 2: you to a certain place. But also, I mean we've
• 29:07
  Speaker 2: discussed here people will put up people in general around
• 29:10
  Speaker 2: the globe, including Americans, will put up with a lot
• 29:13
  Speaker 2: of limitations on their sort of libertarian version of freedom
• 29:17
  Speaker 2: if the government is delivering on improving the quality of life,
• 29:21
  Speaker 2: improving the country. There is no country in history that
• 29:24
  Speaker 2: has lifted more people out of poverty faster than China.
• 29:27
  Speaker 2: It truly is an absolute economic marvel. And so people
• 29:31
  Speaker 2: to your point, can see over their lifetime just a
• 29:34
  Speaker 2: dramatic increase in quality of life and cleanliness of the
• 29:38
  Speaker 2: city of modernization. And so there's an incredible pride there
• 29:41
  Speaker 2: as well at what they've been able to accomplish in
• 29:44
  Speaker 2: a truly remarkably short period of time. I mean, the
• 29:48
  Speaker 2: overwhelming bulk of improvement in poverty statistics around the globe
• 29:53
  Speaker 2: has come just from China. They have been the primary
• 29:57
  Speaker 2: driver of lifting people out of poverty over the past
• 30:00
  Speaker 2: several decades. So you know that also changes the way
• 30:04
  Speaker 2: you think about these nights.
• 30:05
  Speaker 3: You're like, well, they're delivering on.
• 30:06
  Speaker 2: These fronts, so okay, you know, and look, I mean,
• 30:08
  Speaker 2: dealing with getting a parking ticket, I can deal with that.
• 30:10
  Speaker 2: I'm not talking about Tianman Square or whatever.
• 30:12
  Speaker 1: Tool Yeah, right, and that's where look, I mean, this
• 30:15
  Speaker 1: is where it's complicated. We did pay for most of that.
• 30:17
  Speaker 1: A lot of that came at the expense of us.
• 30:18
  Speaker 1: And that's why the Trump twenty sixteen campaign was so
• 30:21
  Speaker 1: invigorating to be like, because he was the first person
• 30:24
  Speaker 1: to say we paid for this, Like because you know,
• 30:26
  Speaker 1: that neoliberal talking point was the one that we would
• 30:28
  Speaker 1: hear all the time. Oh well, global poverty has gone down.
• 30:31
  Speaker 1: It's like, yeah, but we're poorer. They're the ones who
• 30:33
  Speaker 1: are richer, not us. But what we want I think
• 30:36
  Speaker 1: at this point, we've lived through this idea that China
• 30:40
  Speaker 1: was like some backward state. And I'm being honest, like
• 30:42
  Speaker 1: I even used to I remember, so I first my
• 30:44
  Speaker 1: first year of professional politics is twenty fifteen. That is
• 30:47
  Speaker 1: when the maide in China. Twenty twenty five plan came out.
• 30:50
  Speaker 1: We scoffed at it where there were commissions here and
• 30:52
  Speaker 1: watch what a joke. All the came true, All the
• 30:55
  Speaker 1: came true. Yeah, and actually a lot more than it
• 30:57
  Speaker 1: came true. Then twenty twenty happened. Remember we talked to
• 30:59
  Speaker 1: Peter Zion and others. People predicted demographic collapse and there's
• 31:02
  Speaker 1: some of that or you know, commercial real estate, and
• 31:05
  Speaker 1: I'm listening. It's a country one point four billion, So
• 31:08
  Speaker 1: to say that they don't have problems, it's ludicrous, Like
• 31:10
  Speaker 1: they have plenty of problems on the intern. But we're
• 31:13
  Speaker 1: saying from our perspective to see the life of the
• 31:17
  Speaker 1: average citizen, especially the more upwardly mobile ones. If you
• 31:21
  Speaker 1: were to call it the Chinese dream, they can generally
• 31:24
  Speaker 1: own a home. Yes, there's a crazy commercial real estate market,
• 31:26
  Speaker 1: but their day to day life it's not so bad.
• 31:29
  Speaker 1: And I would just say, like ours, it's it's bad.
• 31:32
  Speaker 1: Like we covered yesterday, people are working more hours for
• 31:34
  Speaker 1: less pay, high gas prices. In terms of your consumer experience,
• 31:38
  Speaker 1: what's the last revolutionary product that you that you bought
• 31:41
  Speaker 1: for me? It was probably iPhone four? Remember twenty ten.
• 31:44
  Speaker 1: It was sixteen years ago, all right. Actually, I have
• 31:47
  Speaker 1: a Tesla. That's pretty cool. So Tesla too. So I
• 31:49
  Speaker 1: don't know that came out when it come out like
• 31:51
  Speaker 1: ten years ago, the Tesla model for the But I mean.
• 31:53
  Speaker 2: That's a great example because they're kicking aracy, so like
• 31:56
  Speaker 2: they've started passed Tesla's what they can do.
• 31:58
  Speaker 1: If you look at the past ten years for them,
• 32:00
  Speaker 1: You've got Greeley, You've got Shalmie, you've got Tesla, You've
• 32:03
  Speaker 1: got byd, you have we Chat, you have hand pay,
• 32:06
  Speaker 1: you have the high speed rail going three hundred miles
• 32:09
  Speaker 1: per hour. And then I'm not even talking about all
• 32:11
  Speaker 1: these crazy infrastructure projects where imagine in the hinter lands
• 32:14
  Speaker 1: of the United States, like some backwards ass town in
• 32:18
  Speaker 1: Nebraska getting brand new bridges and beautification, and people coming
• 32:24
  Speaker 1: from Washington being like, look at what we're doing for you.
• 32:27
  Speaker 1: I mean, it's easy to criticize as a dog and
• 32:29
  Speaker 1: pony show, and some of it is more shoddily built,
• 32:31
  Speaker 1: I'll grant you that. But we're not even trying over here. Okay,
• 32:34
  Speaker 1: They've just got rust in the middle out there.
• 32:37
  Speaker 2: The story in most of our country is year after
• 32:39
  Speaker 2: year degradation in the Klent. You know, cities that were
• 32:42
  Speaker 2: like you know, for people who are older, who they
• 32:44
  Speaker 2: can remember what, you know, maybe Detroit was in his heyday.
• 32:48
  Speaker 1: Yeah, I've only seen pictures.
• 32:49
  Speaker 2: Yeah, you know, we see and you know Detroit is
• 32:52
  Speaker 2: doing a little bit better than it was that it's worse.
• 32:54
  Speaker 2: But so I don't want to I'm not trying to
• 32:55
  Speaker 2: trash Detroit here, but you can see what our cities
• 32:58
  Speaker 2: were in.
• 32:59
  Speaker 3: All of our infrastructure.
• 33:00
  Speaker 2: You know, you fly into an airport here, it looks shitty, right,
• 33:03
  Speaker 2: you get on a train, you're gonna have problems. Yeah,
• 33:05
  Speaker 2: I mean it's it's you. You go around this country
• 33:09
  Speaker 2: and mostly what you see is decline and for Chinese,
• 33:12
  Speaker 2: for Chinese people they go around their country, most of
• 33:14
  Speaker 2: what they see is improvement they see and then that
• 33:17
  Speaker 2: comes at.
• 33:17
  Speaker 3: Certain costs as well.
• 33:18
  Speaker 2: But you see a lot of change and positive improvement
• 33:21
  Speaker 2: to your point about you know them even surpassing like
• 33:24
  Speaker 2: the maid in China expectations. If we could put a
• 33:27
  Speaker 2: five up on the screen, this was this was I
• 33:29
  Speaker 2: saw this from Arno's feed.
• 33:32
  Speaker 3: He retweeted this.
• 33:33
  Speaker 2: He says, one of the most consequential charts in my opinion,
• 33:36
  Speaker 2: China will go from being almost completely reliant on chips
• 33:38
  Speaker 2: from external sources to almost completely self sufficient in.
• 33:41
  Speaker 3: Just ten years.
• 33:43
  Speaker 2: So one of the things that you know, we've really
• 33:45
  Speaker 2: held on to is like, okay, well we have the
• 33:47
  Speaker 2: premier chips technology, and so we're going to sort of
• 33:49
  Speaker 2: marshal our resources that we're going to limit how many
• 33:52
  Speaker 2: chips go. And there's still a lot of you know,
• 33:54
  Speaker 2: dispute and debate over how much to sell chips to China,
• 33:57
  Speaker 2: et cetera. And so while we were with trying to
• 34:00
  Speaker 2: withhold this technology, especially under the Bide administras, and they're like,
• 34:03
  Speaker 2: all right, well, we're going to really push developing our
• 34:05
  Speaker 2: own and our AI products are going to really focus
• 34:09
  Speaker 2: on what they can do with the chips that we
• 34:12
  Speaker 2: produce here.
• 34:13
  Speaker 3: Domestically and so on.
• 34:16
  Speaker 2: You know, on a number of fronts, the thought with
• 34:18
  Speaker 2: China previously in the past was always oh, well, they
• 34:20
  Speaker 2: can copy what we can do, but they're never going
• 34:22
  Speaker 2: to be leading edge on anything, and that is just
• 34:24
  Speaker 2: not the case anymore. You know, on deep seek is
• 34:28
  Speaker 2: very competitive. But again you saw the humanoid robots where
• 34:31
  Speaker 2: they're kicking our ass. Ev they're kicking our ass solar panels,
• 34:33
  Speaker 2: they're kicking our ass.
• 34:34
  Speaker 3: And the solar energy part.
• 34:36
  Speaker 2: I would talk a little bit more about that in
• 34:38
  Speaker 2: a bit, but you know, the renewable energy piece. If
• 34:41
  Speaker 2: you actually want energy independens, that is the.
• 34:43
  Speaker 1: Way to go.
• 34:43
  Speaker 3: Because oil is a global market.
• 34:45
  Speaker 2: It doesn't matter that we produce more oil here and
• 34:47
  Speaker 2: we're not export, et cetera, because we're still subject to
• 34:50
  Speaker 2: the global price pressures of this global market. So when
• 34:53
  Speaker 2: there is a constraint like there is in straight up hoormoves,
• 34:55
  Speaker 2: obviously we're still affected. So in any case, it is
• 34:58
  Speaker 2: just a long way of saying on any number nine,
• 35:00
  Speaker 2: remember seeing a report about all of these sort of
• 35:02
  Speaker 2: frontier technologies. In many instances, they are leading the way
• 35:07
  Speaker 2: at this point. Now there are some areas where we
• 35:08
  Speaker 2: still have an edge. Silicon Valley still does incredible things,
• 35:12
  Speaker 2: you know that, there's no doubt about that.
• 35:13
  Speaker 3: Still a lot of American innovation.
• 35:15
  Speaker 2: But the old notion that all China can do is
• 35:18
  Speaker 2: steal technology and copycat with a poor quality product, that's gone.
• 35:24
  Speaker 1: That's two thousand and twenty fifteen. There was a period
• 35:26
  Speaker 1: where that was true. Yeah, it is true, and a
• 35:27
  Speaker 1: lot of it is built on their back in fact,
• 35:29
  Speaker 1: the story of Tesla, what they did, they see, I
• 35:32
  Speaker 1: have to respect them. They're like, oh, elon, come on over,
• 35:36
  Speaker 1: you can build gigashang Hi. And what does he do.
• 35:38
  Speaker 1: He builds gigashang Hi and he builds the entire flywheel
• 35:42
  Speaker 1: for EVS. And then what they do is they go,
• 35:44
  Speaker 1: all right, now we're going to use that flywheel and
• 35:46
  Speaker 1: all that supply chain for our stuff, and we're going
• 35:48
  Speaker 1: to massively subsidize it. And then also though, at the
• 35:51
  Speaker 1: same time of massive subsidization is we don't just pick
• 35:54
  Speaker 1: winners and losers. We make it so that everybody gets
• 35:57
  Speaker 1: to ruthlessly compete, which means that you rise to the top.
• 36:00
  Speaker 1: That's how you get the best stuff. But they built
• 36:02
  Speaker 1: the infrastructure. If you look at their energy sources, you,
• 36:05
  Speaker 1: I mean, we shouldn't get too carried away, Like fifty
• 36:07
  Speaker 1: percent of their stuff so it comes from coal, but
• 36:09
  Speaker 1: you know they've got fourteen percent hydro power, ten percent solar,
• 36:12
  Speaker 1: ten percent win You look at.
• 36:14
  Speaker 2: The trajectory though, right, and that's what's incredible exactly.
• 36:17
  Speaker 1: And the thing is is that China is kind of
• 36:19
  Speaker 1: like what's happening in Texas right now. I'm not sure.
• 36:21
  Speaker 1: If you've seen where Texas has more new renewables than California,
• 36:26
  Speaker 1: why no red tape right for them, They're like, build
• 36:29
  Speaker 1: whatever you want, We don't care. They're not going to
• 36:31
  Speaker 1: celebrate it, but you could build it if you want to.
• 36:33
  Speaker 1: China is a little bit like that in terms of
• 36:35
  Speaker 1: the red tape exists, but there's no ideology whenever it
• 36:40
  Speaker 1: comes to energy, if it turns, if you get electrons,
• 36:43
  Speaker 1: you're good to go.
• 36:44
  Speaker 2: Well, and they have prioritized solar development in particular, which
• 36:48
  Speaker 2: is why they're the top manufacturer.
• 36:51
  Speaker 1: They have the whole supply chain, they have the industrial.
• 36:53
  Speaker 3: The other way were as benefit of them, and they
• 36:55
  Speaker 3: don't care.
• 36:55
  Speaker 2: Countries around the world, including Cuba, is actually doing like
• 36:58
  Speaker 2: a whole renewables in a remarkably short period of time
• 37:02
  Speaker 2: because they're like, Okay, we can't be screwed over by
• 37:05
  Speaker 2: these oil shipment, you know, embargoes anymore. So, Yeah, the
• 37:09
  Speaker 2: Iran war has created an increased logic for people around
• 37:12
  Speaker 2: the world of like, okay, well we need to get
• 37:13
  Speaker 2: in on this intech.
• 37:14
  Speaker 1: My last piece is just this is the most novel
• 37:16
  Speaker 1: situation the United States have ever been. The United States
• 37:19
  Speaker 1: has never been or at least even in terms of
• 37:21
  Speaker 1: global politics. Really, for US, we have never been an
• 37:25
  Speaker 1: apex power with a peer competitor, which is not only
• 37:30
  Speaker 1: like a peer competitor in terms of military force, but
• 37:33
  Speaker 1: in terms of economic and soon potential soft power force.
• 37:36
  Speaker 1: We've never faced that. The Soviet Union was always a
• 37:39
  Speaker 1: military juggernaut. It was never even remotely comparable in terms of,
• 37:43
  Speaker 1: you know, in terms of their system's ability to produce
• 37:47
  Speaker 1: like soft power elements, or to produce like economic marvels
• 37:51
  Speaker 1: or miracles. Really what they were great about was just
• 37:54
  Speaker 1: their sheer size, weight and political control. Originally, That's what
• 37:58
  Speaker 1: China was like you were saying the eight twenty fifteen period.
• 38:02
  Speaker 1: It is not the same country. I would say that
• 38:05
  Speaker 1: this is much more like the pre World War One
• 38:09
  Speaker 1: tides of a great you know, the sun never sets
• 38:12
  Speaker 1: on the British Empire being confronted by this new Germanic
• 38:17
  Speaker 1: power which is very similar in terms of its science
• 38:19
  Speaker 1: and its economic might, and not necessarily as militaristic, but
• 38:24
  Speaker 1: its ability to be a genuine competitor if it wanted
• 38:27
  Speaker 1: to be. And that was a very novel situation for
• 38:30
  Speaker 1: the continent. And I don't see, you know, that's as
• 38:33
  Speaker 1: close as a parallel as I could get. There's not
• 38:35
  Speaker 1: as many like surrounding empires in terms of multipolarity, but
• 38:39
  Speaker 1: bipolarity itself is it's not even really a question I
• 38:42
  Speaker 1: think at this point. And Iran has really put the
• 38:45
  Speaker 1: nail in the coffin. I mean, it's just fascinating to
• 38:46
  Speaker 1: see it all come to a head.
• 38:48
  Speaker 7: Yeah.
• 38:48
  Speaker 1: I did not think I would live to see, you know,
• 38:50
  Speaker 1: I really I didn't. I knew it would witness history
• 38:52
  Speaker 1: with witness plenty here, but oh yeah, this really is
• 38:54
  Speaker 1: a I mean, it doesn't feel like it's not as
• 38:58
  Speaker 1: sexy as bombs going off and all of that. But
• 39:00
  Speaker 1: you know, if you take a step back and you
• 39:02
  Speaker 1: see this and this uniting the superpowers in the midst
• 39:05
  Speaker 1: of Iran, it's a crazy situation. There are many books
• 39:08
  Speaker 1: written about this eighty day period.
• 39:10
  Speaker 2: Yeah, and we should mention Ukraine and Russia as well,
• 39:13
  Speaker 2: where you know, we embroiled ourselves and this shows you
• 39:17
  Speaker 2: also that's not just Trump, although I think Trump has
• 39:19
  Speaker 2: certainly expedited our decline and the Iran War really helped
• 39:22
  Speaker 2: to tie the end of the empire here into a bow.
• 39:25
  Speaker 2: But you know, we went in thinking Okay, we're going
• 39:27
  Speaker 2: to have this proxy war with Russia and they're weak
• 39:30
  Speaker 2: and it's just a gas station, and we'll be able
• 39:32
  Speaker 2: to hobble them with our sanctions, et cetera. Obviously, that
• 39:35
  Speaker 2: hasn't worked down either, and the Iran War has only
• 39:39
  Speaker 2: only aided Russia. And we've actually eased some of the
• 39:41
  Speaker 2: sanctions to ease the pressure on our own gas prices
• 39:44
  Speaker 2: here and oil prices around the globe. It's a good
• 39:49
  Speaker 2: transition to what came out of this with regard to Iran.
• 39:53
  Speaker 2: And I just want to remind everybody that after Trump
• 39:58
  Speaker 2: launched the Iran War without really providing justification, one of
• 40:02
  Speaker 2: the five d Chess rationales was, oh, this is really
• 40:06
  Speaker 2: to hurt China because they rely on more oil from
• 40:09
  Speaker 2: the Strait of Horror moves and so even though it's
• 40:11
  Speaker 2: closed and it's a prom for it's more of a
• 40:13
  Speaker 2: problem for them.
• 40:14
  Speaker 3: And that's what this is really about.
• 40:16
  Speaker 2: I think we can all see now if that was
• 40:19
  Speaker 2: a thought, that was an incredibly foolish thought, because it
• 40:23
  Speaker 2: is very clear that while yes, the Iran War is
• 40:25
  Speaker 2: not great for China, they are paying some price for
• 40:27
  Speaker 2: it as well.
• 40:28
  Speaker 3: It is vastly vastly worse for US.
• 40:31
  Speaker 2: Now we did get out of this, and I think
• 40:33
  Speaker 2: this is significant. A Chinese government saying, you know, in
• 40:36
  Speaker 2: their readout or coming out of these meetings, that they
• 40:39
  Speaker 2: do not support a toll in the Strait of horror moos.
• 40:42
  Speaker 2: Everything else, as we covered before, was sort of ambiguous
• 40:44
  Speaker 2: about what they said about Iran. But take a look
• 40:46
  Speaker 2: at this. Put be one up on the screen. New
• 40:49
  Speaker 2: report for the New York Times says that Chinese firms
• 40:51
  Speaker 2: are plotting secret arm sales to Iran. So according to
• 40:56
  Speaker 2: US officials who were talking to the New York Times,
• 40:58
  Speaker 2: so keep that in mind in terms of where it's
• 40:59
  Speaker 2: coming from.
• 41:00
  Speaker 3: But I'll just read it a little bit of this.
• 41:02
  Speaker 2: Chinese companies have been discussing arm sales with Iran, plotting
• 41:04
  Speaker 2: to send the weapons through other countries to mask the
• 41:07
  Speaker 2: origins of the military aid US has gathered intelligence that
• 41:10
  Speaker 2: Chinese companies Iranian officials have discussed the arms transfers. Not
• 41:14
  Speaker 2: clear how many, if any, arms have been shipped, or
• 41:16
  Speaker 2: to what degree Chinese officials have approved the sales. New
• 41:19
  Speaker 2: disclosures likely to and intensified pressure on President Trump to
• 41:23
  Speaker 2: raise the issue while he is in Beijing this week.
• 41:27
  Speaker 2: So obviously this would be a very significant development. We
• 41:30
  Speaker 2: know China's already been assisting Iran. Iran is important to
• 41:33
  Speaker 2: them at this point, and Professor Paper raised with us yesterday. Okay,
• 41:37
  Speaker 2: just imagine now all the advanced Chinese tech like AI
• 41:41
  Speaker 2: tech also being transferred to Iran, and the way that's
• 41:44
  Speaker 2: only going to further strengthen their position, the Iranians position
• 41:48
  Speaker 2: as a world power. So you've really forced China, Russia
• 41:51
  Speaker 2: and Iran. You've really forced these three countries together via
• 41:55
  Speaker 2: our own foolish foreign policy.
• 41:57
  Speaker 1: It is also very interesting with China. One of the
• 42:00
  Speaker 1: things that they've been doing is they actually haven't been
• 42:02
  Speaker 1: importing nearly as much oil as normal. That's one of
• 42:05
  Speaker 1: the reasons why the price of oil actually isn't higher
• 42:08
  Speaker 1: is I believe that they've cut it by nearly a quarter.
• 42:10
  Speaker 1: And I think one of the reasons that they're doing
• 42:12
  Speaker 1: it is to tell other regional allies that are like, hey,
• 42:14
  Speaker 1: we've been using a lot of our spr strategic petroleum reserve.
• 42:18
  Speaker 1: They have one of the largest in the world of
• 42:20
  Speaker 1: strategic petroleum, and in effect, we're also getting you a
• 42:23
  Speaker 1: discount by not bidding up the price even higher than
• 42:26
  Speaker 1: where it should be. I also think it's very interesting
• 42:29
  Speaker 1: about all of this stuff that China has access to,
• 42:32
  Speaker 1: which we not previously he talked about in the eight
• 42:35
  Speaker 1: nine area. Not to say they didn't have spic satellites
• 42:38
  Speaker 1: as ridiculous, but to say that they did. They had
• 42:40
  Speaker 1: cheap spice satellites which they're able to deploy on behalf
• 42:43
  Speaker 1: of others, which then enable a great damage to the
• 42:45
  Speaker 1: US is a very new phenomenon. So if you listen
• 42:48
  Speaker 1: to this, since the beginning of the war, China has
• 42:50
  Speaker 1: given Iran intelligence and access to a spy satellite that
• 42:53
  Speaker 1: has tracked the positions of US forces in the region.
• 42:56
  Speaker 1: They have supplied dual use components that they need to
• 42:58
  Speaker 1: produce drones, missile and other weaponry. Providing these dual use
• 43:02
  Speaker 1: components like semiconductor sensors voltage converters, can also be used
• 43:05
  Speaker 1: in civilian manufacturing, draw less fruity than arms sales. The
• 43:09
  Speaker 1: reason why I thought that was really important is let's
• 43:12
  Speaker 1: compare it to the US industrial base. So, for example,
• 43:15
  Speaker 1: the UAE and all of these other countries are buying
• 43:18
  Speaker 1: more thads, more patriots. Well, they have the supply chain
• 43:22
  Speaker 1: to be able to support their industrial base, their civilian base,
• 43:27
  Speaker 1: and to be able to export. We don't even have
• 43:29
  Speaker 1: the industrial base to supply ourselves for one year of production,
• 43:34
  Speaker 1: let alone support the UAE and Saudi Arabia. Why do
• 43:37
  Speaker 1: the UAE's you know, doing all these secret shading meetings
• 43:40
  Speaker 1: with baby because they need iron dome missiles, they need
• 43:43
  Speaker 1: their drones. I mean, from the US perspective, our supply chain,
• 43:47
  Speaker 1: to build this stuff from the ground up, it's impossible
• 43:50
  Speaker 1: without all these you know, it's impossible to produce just
• 43:53
  Speaker 1: what we need, let alone to be able to support
• 43:56
  Speaker 1: the rest of the world. That's what we used to
• 43:57
  Speaker 1: do when we were at global manufacturing powerhouse in the
• 44:00
  Speaker 1: post NAFTA era. No, you made an important point earlier
• 44:03
  Speaker 1: about Silicon Valley, but that actually is the great weakness
• 44:06
  Speaker 1: of the US economy. It's the reason why our stock
• 44:08
  Speaker 1: market is hire and our economy sucks is because we
• 44:11
  Speaker 1: design things. We're very, very good at high end design.
• 44:14
  Speaker 1: I mentioned yesterday this Apple laptop. When you open up
• 44:16
  Speaker 1: the box, designed in Coopertino, Right, but where's in manufactured
• 44:20
  Speaker 1: in chen Jin? Right? It shipped to me from Vietnam. Right.
• 44:23
  Speaker 1: I attracted the US the ups stuff whenever I got it, Well,
• 44:27
  Speaker 1: what does that tell you? The components are here, the
• 44:30
  Speaker 1: design is here. In China, they now have a system
• 44:33
  Speaker 1: where they have both the design and the manufactur That's
• 44:36
  Speaker 1: where you're a strong country. This is what happened to
• 44:39
  Speaker 1: Intel and many of these others. They stripped away their
• 44:42
  Speaker 1: manufacturing capacity that kept the design, because the design is
• 44:45
  Speaker 1: the profits. That's where the money rolls into the banks.
• 44:47
  Speaker 1: But when you know, push comes to shove to be Russia.
• 44:50
  Speaker 1: You know, you made a joke about the gas station
• 44:53
  Speaker 1: and it was I mean, it's kind of true. But
• 44:55
  Speaker 1: does it matter if all you need is gas and bullets?
• 44:57
  Speaker 1: It turns out you don't really need much else. Like
• 45:00
  Speaker 1: when we pulled out McDonald's, they're like, okay, whatever, Well, and.
• 45:03
  Speaker 2: Here's here's what China, Iran, and Russia all to Obviously
• 45:07
  Speaker 2: vary extents, and these are very different countries. But the
• 45:10
  Speaker 2: fact that you had this averasra with relationship with the US,
• 45:13
  Speaker 2: either with active sanctions or with the threat of sanctions
• 45:17
  Speaker 2: hanging over the countries created a real awareness and necessity
• 45:21
  Speaker 2: of a level of self sufficiency. So even Iran has
• 45:25
  Speaker 2: you know, they are able to manufacture their own goods, right,
• 45:29
  Speaker 2: they're able to spin up their drones quickly. And certainly,
• 45:33
  Speaker 2: you know, Russia has has a large industrial base. China
• 45:37
  Speaker 2: is the largest industrial base in the entire world. And
• 45:40
  Speaker 2: so another technology where they are head and shoulders above.
• 45:43
  Speaker 3: Us is drones.
• 45:44
  Speaker 2: So the concept of you know, we played earlier the
• 45:47
  Speaker 2: facinities trap comments from g where he's warning about the
• 45:52
  Speaker 2: potential of war between a pre eminent power and a
• 45:56
  Speaker 2: rising power and the way that creates tensions and can
• 45:58
  Speaker 2: lead to an inevitability of war if it's not handled properly.
• 46:01
  Speaker 2: I mean, just think about how that would go for us,
• 46:04
  Speaker 2: given their manufacturing prowess, Given the fact that in our
• 46:09
  Speaker 2: war of forty days against a middling power at best,
• 46:14
  Speaker 2: that we're already run low on various stockpiles and can't
• 46:18
  Speaker 2: help on our allies and are leaving them high and dry,
• 46:20
  Speaker 2: and our bases are obliterated and our soldiers are having
• 46:22
  Speaker 2: a fleet, etc.
• 46:24
  Speaker 3: I mean, how do you think this would go?
• 46:26
  Speaker 2: It's preposterous to think about it, and that the Chinese
• 46:29
  Speaker 2: know that we know it. That's why for Taiwan, I
• 46:33
  Speaker 2: mean the Chinese, they don't really have to do anything
• 46:36
  Speaker 2: because the reality of the global power balance has become
• 46:39
  Speaker 2: so manifestly clear, and Iran has been obviously a really
• 46:43
  Speaker 2: central part of that. Let me go ahead and put
• 46:46
  Speaker 2: up on the screen the second element here, which we
• 46:49
  Speaker 2: mentioned before, and I think the Americans will see this
• 46:52
  Speaker 2: as significant. You've got this agreement on opposing Horrormu's toll.
• 46:57
  Speaker 2: But as we discussed before, the rest of the language,
• 46:59
  Speaker 2: very okay, we oppose a militarized straight Okay, well, who's
• 47:04
  Speaker 2: the military. You know that means they oppose our military
• 47:07
  Speaker 2: being in the strait as well, and I'm sure they do, right.
• 47:10
  Speaker 3: It's very important.
• 47:11
  Speaker 2: China is a trading nation, very important that they're able
• 47:13
  Speaker 2: to trade freely around the world. That's significant for their
• 47:17
  Speaker 2: export economy, no doubt about it. So you have that,
• 47:22
  Speaker 2: and otherwise you had very little public discussion on Iran.
• 47:26
  Speaker 2: And if Trump thinks that China is going to come
• 47:28
  Speaker 2: in and bail them out because they're in such dire
• 47:30
  Speaker 2: straits over the war, I think he's.
• 47:33
  Speaker 3: An absolute fool.
• 47:34
  Speaker 2: And the very fact that he has to go to
• 47:36
  Speaker 2: China to try to bail us out is humiliating to
• 47:41
  Speaker 2: begin with. So it's quite an astonishing circumstance that we
• 47:44
  Speaker 2: find ourselves in here. When we talked to Colonel Wilkerson
• 47:48
  Speaker 2: earlier in the week Emily and I did that interview,
• 47:52
  Speaker 2: he said he was like, I'm fifty to fifty on
• 47:53
  Speaker 2: whether Trump even goes because of the weakness of the
• 47:56
  Speaker 2: position going in now. Trump being megalomaniac, obviously thought he
• 48:00
  Speaker 2: could get in the room, sweet talk and get some
• 48:02
  Speaker 2: kind of a deal, and he'll certainly be able to
• 48:04
  Speaker 2: spin some sort of a victory narrative out of here. Right, Oh,
• 48:07
  Speaker 2: we got this deal, and he'll just make shit up too.
• 48:09
  Speaker 2: He's not afraid to do that. But I think that's
• 48:12
  Speaker 2: an indication of how much our position was damaged by
• 48:16
  Speaker 2: recent moves by Trump. This meeting had to be pushed
• 48:19
  Speaker 2: off already that it would even be a possibility of
• 48:22
  Speaker 2: I don't know if we should even go forward with this.
• 48:24
  Speaker 1: That's nice, really, it's really not good. And I also
• 48:27
  Speaker 1: think what's fascinating about all of this is what you
• 48:31
  Speaker 1: can see with the arm sails, the movement, the way
• 48:36
  Speaker 1: that they're even talking around Iran like they don't they
• 48:39
  Speaker 1: mentioned the militarization of the Strait. They say they oppose
• 48:42
  Speaker 1: the toll, do they really. I mean, you know, it's
• 48:44
  Speaker 1: one of those where they may say it in principle,
• 48:46
  Speaker 1: but in the status quo would they do anything.
• 48:48
  Speaker 2: Well, And it's like we're not charging a toll, we're
• 48:51
  Speaker 2: charging a safety searcharge whatever.
• 48:55
  Speaker 1: I've at least you seen them and their public statements.
• 48:58
  Speaker 1: They talk around in circles, which is why you have
• 49:01
  Speaker 1: to partse what they say very very careful.
• 49:03
  Speaker 3: Ol diplomatic languages.
• 49:04
  Speaker 1: Absolutely. Yeah, and one of the things that I think,
• 49:07
  Speaker 1: you know, you really do highlight in what's happening over
• 49:10
  Speaker 1: there also, and this is look, you have to contrast
• 49:13
  Speaker 1: our internal systems, like the internal system of China is
• 49:16
  Speaker 1: one of near total power consolidation with Shishinping. Now, often
• 49:22
  Speaker 1: that can go very awry. He changed the whatever, the
• 49:25
  Speaker 1: not the constitution, whatever it is, you know, to be
• 49:27
  Speaker 1: able to remain president for life. He's recently gone after
• 49:31
  Speaker 1: the equivalent of the secretary of Defense, so I think
• 49:33
  Speaker 1: was just I think he was just condemned to death.
• 49:36
  Speaker 1: Like the internal repression within the CCP I'm not even
• 49:39
  Speaker 1: talking about, you know, for the Chinese people has immense
• 49:43
  Speaker 1: has gone up immensely under his reign. You would think
• 49:47
  Speaker 1: often that makes somebody weaker right now, it seems as
• 49:50
  Speaker 1: if he's pulling things off. Remember we're looking at things
• 49:52
  Speaker 1: from afar, reading the Western press, like it's not that
• 49:54
  Speaker 1: easy to actually get any real sense. But what we
• 49:58
  Speaker 1: can also contrast that though, is our system where look,
• 50:02
  Speaker 1: one of the benefits of it is the openness and
• 50:04
  Speaker 1: the challenge. But what we actually have is just an
• 50:07
  Speaker 1: inability to resolve like the biggest questions like war. And
• 50:10
  Speaker 1: this brings me to before let's put this up here
• 50:13
  Speaker 1: on the screen where even though three Republican senators broke
• 50:18
  Speaker 1: with their leadership and voted to announce advance the War
• 50:22
  Speaker 1: Powers Act, that we had John Fetterman, who was the
• 50:26
  Speaker 1: only Democrat to vote against the War Powers bringing it
• 50:29
  Speaker 1: to a forty nine to fifty vote. If Fetterman had
• 50:33
  Speaker 1: actually voted for it, it would have forced JD. Vance to
• 50:37
  Speaker 1: come to the chamber and to actually break the tie.
• 50:41
  Speaker 1: That would be and which would have been a political
• 50:43
  Speaker 1: disaster for the administration of the Vice president forced to
• 50:46
  Speaker 1: come and to actually.
• 50:48
  Speaker 2: Well, it would be a real disaster for him too.
• 50:51
  Speaker 2: Right to vote tried trying to like distance himself a
• 50:55
  Speaker 2: little bit from this policy for his own political process
• 50:57
  Speaker 2: in the future.
• 50:58
  Speaker 1: Just you know, thanks, look at that. Yeah, so Fetterman,
• 51:00
  Speaker 1: I mean, yeah, wow in terms of how he could
• 51:04
  Speaker 1: ever explain that one. But I don't know. I just
• 51:06
  Speaker 1: look at that. You know that this level of chaos
• 51:09
  Speaker 1: in our country, where war is the biggest question, it
• 51:11
  Speaker 1: should be the biggest one. It's what decides fates literally
• 51:14
  Speaker 1: of nations. And to have it so that we can't
• 51:17
  Speaker 1: even get you know, our Congress and others can't even
• 51:20
  Speaker 1: get their act together to force themselves to fulfill their
• 51:25
  Speaker 1: own constitutional duty, it's just such a such a like
• 51:29
  Speaker 1: I don't know, it just it shows the deep weakness
• 51:31
  Speaker 1: of our system and it makes you really wonder where
• 51:34
  Speaker 1: you're like, well, you know, on long timeline, authoritarianism usually
• 51:37
  Speaker 1: doesn't go well. But like maybe I'm wrong, I don't know,
• 51:39
  Speaker 1: like maybe this one actually will.
• 51:41
  Speaker 2: Iranian state media is apparently reporting this morning that Tehran
• 51:45
  Speaker 2: has been allowing Chinese ships through the straight under Iranian
• 51:48
  Speaker 2: managed protocols, and no accident that would be happening now.
• 51:51
  Speaker 2: So again to the context of like the double speak,
• 51:54
  Speaker 2: it's like, well, for China, they're like it is open.
• 51:57
  Speaker 2: What are you talking about? Our ships are getting through
• 51:58
  Speaker 2: just fine, just about to follow the Iranian protocols, so
• 52:02
  Speaker 2: you know, and I think it's it's meant to send
• 52:04
  Speaker 2: a message, and it's very significant coming at this timing.
• 52:07
  Speaker 2: They're one other point that I wanted to raise, because
• 52:10
  Speaker 2: I do think it's significant. You mentioned before how China
• 52:12
  Speaker 2: they don't have an ideological approach to like solar versus wind,
• 52:16
  Speaker 2: versus gas and oil. It's it's all just like, okay, well,
• 52:19
  Speaker 2: what's going to be good for our country? And they
• 52:21
  Speaker 2: have calculated very much that renewable solar in particular is
• 52:25
  Speaker 2: a huge development opportunity and also again helps to create
• 52:29
  Speaker 2: that independence because then you're not reliant on you know,
• 52:32
  Speaker 2: oil from the Strait of Hormus or buying oil from
• 52:35
  Speaker 2: the US, et cetera. Now, again, as you're pointing out,
• 52:37
  Speaker 2: it's not like they've completely transitioned their economy over but
• 52:40
  Speaker 2: they have already hit peak carbon emissions and are going
• 52:44
  Speaker 2: in the opposite direction and are integrating solar in a
• 52:48
  Speaker 2: rapid rapid pace. I mean, the trajectory is really quite astonishing. Meanwhile,
• 52:52
  Speaker 2: here in the US, Trump just has an ideological opposition
• 52:56
  Speaker 2: to all renewables, regardless of you know, whether it's good
• 53:00
  Speaker 2: for the country, about for the country. He just does
• 53:02
  Speaker 2: not like renewables. Part of this is, of course he's
• 53:04
  Speaker 2: in the pocket of the oil and gas industry. He went,
• 53:07
  Speaker 2: you'll recall on the campaign trail, had a big meeting
• 53:09
  Speaker 2: with them and prompts them billions of dollars if they
• 53:11
  Speaker 2: help him get elected, et cetera.
• 53:13
  Speaker 3: So he has a.
• 53:14
  Speaker 2: Corrupt ideological commitment to that, but it results in, you know,
• 53:18
  Speaker 2: sort of foolish moments like this from where Doug Bergram
• 53:21
  Speaker 2: was being questioned in Congress yesterday and you know, was
• 53:26
  Speaker 2: spinning some nonsense about how a solar only works when
• 53:30
  Speaker 2: the sun is shining, which that's obviously when you gather power.
• 53:33
  Speaker 2: But there's been a lot of advances in terms of
• 53:36
  Speaker 2: battery technology to even out.
• 53:38
  Speaker 3: The power distribution. This is b three. Let's go ahead
• 53:41
  Speaker 3: and take a listen to this.
• 53:42
  Speaker 7: Could I respond quickly on one thing, the wizard analysis
• 53:47
  Speaker 7: that suggests that this is the cheapest form of energy.
• 53:50
  Speaker 7: All of these projects are describing in Nevada have one
• 53:53
  Speaker 7: thing in common. When the sun goes down, they produce
• 53:55
  Speaker 7: zero electricity. And this nation over rotated towards intermittent forms
• 54:00
  Speaker 7: of energy, and the idea that we could add intermittent
• 54:04
  Speaker 7: and shut down baseload is what put our grid at
• 54:07
  Speaker 7: deep risk. And the idea that it's the cheapest if
• 54:11
  Speaker 7: you want to add intermittent, you have to keep everything else.
• 54:14
  Speaker 7: And so there we have to have a discussion about
• 54:18
  Speaker 7: the total cost of grid, not the cost of the
• 54:20
  Speaker 7: incremental because it's true on an incremental basis, you may
• 54:23
  Speaker 7: have an incremental source, but it doesn't work. And I
• 54:26
  Speaker 7: request unanimous consent to enter into the record this amazing
• 54:30
  Speaker 7: new technology that apparently the Secretary is unaware of it.
• 54:32
  Speaker 1: It's a battery. China's figured it out.
• 54:35
  Speaker 7: That's why they're cleaning our clock on clean energy. But
• 54:38
  Speaker 7: I want to enter that into the record.
• 54:39
  Speaker 2: It's battery. China is figuring it out. This very much
• 54:42
  Speaker 2: reminds of Trump has a whole bit about like imagining
• 54:46
  Speaker 2: watching TV and then the sun goes down or the
• 54:48
  Speaker 2: wind stops. Will I guess we can't watch our favorite show?
• 54:51
  Speaker 3: Like this is not real.
• 54:52
  Speaker 2: Obviously there's technological fixes for this, So you know his
• 54:57
  Speaker 2: ideological opposition to renewables. As Fool asked yesterday about how
• 55:01
  Speaker 2: you know men are actually suffering a lot in the
• 55:03
  Speaker 2: Trump economy, One of the industries that was previously growing
• 55:07
  Speaker 2: that is male dominated, is renewable manufacturing and implementation, and
• 55:13
  Speaker 2: they just have completely taken an axe to that, partly
• 55:16
  Speaker 2: because I think it is largely because he's in the
• 55:17
  Speaker 2: pocket of the.
• 55:18
  Speaker 1: Oil and gass. My thing is, I'm not ideological on energy.
• 55:21
  Speaker 1: I don't care where it comes from. I care if
• 55:22
  Speaker 1: it's cheap and if it's abundant, and so if that's gas, fine,
• 55:25
  Speaker 1: If it's refineries, which I look, we're not. Oil is
• 55:28
  Speaker 1: not going anywhere soon. I still think we need new
• 55:30
  Speaker 1: oil refineries. That's fine too. If it's solar cool, yeah
• 55:33
  Speaker 1: we should. But let's be honest about you know, how
• 55:35
  Speaker 1: filthy it is to construct those panels. Same with wind.
• 55:38
  Speaker 1: Sometimes we massively subsidize it and it does have some issues.
• 55:41
  Speaker 1: It's not as efficient hydropower, geothermal where needed good to
• 55:45
  Speaker 1: go Obviously, I'm a nuclear guide.
• 55:46
  Speaker 2: I think what I've really thought through though, with regard
• 55:49
  Speaker 2: to the Iran war is that if you actually want
• 55:52
  Speaker 2: to have resilience and energy independence, renewables are actually the
• 55:56
  Speaker 2: only option unless you're going to completely you know, nationalized oil,
• 56:00
  Speaker 2: keep it here, tomester, the et cetera. As long as
• 56:02
  Speaker 2: you're co participating in the global economic order where oil
• 56:06
  Speaker 2: is a global commodity, then you're always going to be vulnerable.
• 56:09
  Speaker 3: To a supply show.
• 56:10
  Speaker 1: I agree.
• 56:10
  Speaker 2: So if you're completely dependent on fossil fuels, it makes
• 56:14
  Speaker 2: your country much more vulnerable and much more fragile. And
• 56:17
  Speaker 2: that's what's really sort of set in for me with
• 56:19
  Speaker 2: the Iran.
• 56:20
  Speaker 1: We have the worst of a fossil fuel system though.
• 56:22
  Speaker 1: So for example, you know, the fact is is that
• 56:24
  Speaker 1: a third of California oil comes from the Middle East.
• 56:27
  Speaker 1: And even though we're a net energy exporter, because we're
• 56:30
  Speaker 1: a net energy export to a global market, we never
• 56:33
  Speaker 1: designed our country for resilience in the event that we
• 56:36
  Speaker 1: would have to shut things down for a national export ban.
• 56:39
  Speaker 1: That's listen. In Russia, they did never did that, right,
• 56:42
  Speaker 1: They just refine their own oil. Same in China. It's
• 56:44
  Speaker 1: a little bit differently, but you know, they have it
• 56:46
  Speaker 1: set it up for the They have more flexibility within
• 56:50
  Speaker 1: their system because they are relying on foreign exports. I
• 56:52
  Speaker 1: don't disagree. I look, I'm a thousand nuclear power plant guy.
• 56:56
  Speaker 1: I think there should be a nuclear power plant in
• 56:57
  Speaker 1: every garden in the United States. Serious, I mean, what
• 57:01
  Speaker 1: their energy would cost nothing. It's perfectly safe. It's definitely
• 57:06
  Speaker 1: safer than natural gas and oil. It would cost, yes,
• 57:10
  Speaker 1: hundreds of billions we did just vaporize. Oh, I don't know,
• 57:13
  Speaker 1: fifty billion over run. So don't come bitch into me
• 57:16
  Speaker 1: about the cost. Nobody cares whenever. It's a trillion five
• 57:19
  Speaker 1: for the Pentagon as opposed to all of this new
• 57:22
  Speaker 1: energy infrastructure, which by the way, will last oh fifty
• 57:25
  Speaker 1: years before you even have to do anything to it.
• 57:28
  Speaker 1: So yeah, look, you know my own personal diet tribe. Besides,
• 57:31
  Speaker 1: that's the easiest way to just get it so that
• 57:33
  Speaker 1: it's everywhere. It would be a great jobs program. I
• 57:37
  Speaker 1: can't even imagine the jetson's reality of what's such cheap
• 57:40
  Speaker 1: and abundant power would be like, it.
• 57:42
  Speaker 3: Would be awesome, revolutionary.
• 57:43
  Speaker 2: No, it would be Did you see this report about
• 57:45
  Speaker 2: how there's not enough money for army training, like people
• 57:48
  Speaker 2: spending on.
• 57:49
  Speaker 1: That nowhere can it's oil because their fuel search charges
• 57:52
  Speaker 1: went up for all. It's ridiculous. Yeah, so because of
• 57:54
  Speaker 1: the limited amount of funds that they have, they actually
• 57:57
  Speaker 1: have had to think about it. I mean, do you
• 57:59
  Speaker 1: know how much diesel tank and some of these other
• 58:01
  Speaker 1: things consume. It's astronomical. So there, because of the spike
• 58:05
  Speaker 1: and fuel, they've had to spend vast amounts more on
• 58:09
  Speaker 1: oil and other like diesel and other things. So that
• 58:12
  Speaker 1: means they've had to cut training program.
• 58:14
  Speaker 2: Yeah, that's not I'm gonna bet that the you know,
• 58:16
  Speaker 2: the military industrial complex, they're not facing any.
• 58:19
  Speaker 1: Cutsarian in me, I go, why are we paying market
• 58:22
  Speaker 1: price for diesel? Fucking take it, all right, it's our diesel.
• 58:25
  Speaker 1: What are we doing here anyway? All right, let's move
• 58:28
  Speaker 1: on inflation.