Latest / Yaron Brook Show / Milei vs Statism; Jobs Lies; CEOs Kneel to Trump; AI Grab; Immigration; Drug War | Yaron Brook Show

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Milei vs Statism; Jobs Lies; CEOs Kneel to Trump; AI Grab; Immigration; Drug War | Yaron Brook Show · Yaron Brook Show

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  Speaker 1: A lot of it. Fundamental principles I've readom rational, self
• 0:09
  Speaker 1: interest and individual runs. This is the Iran Brook Show.
• 0:20
  Speaker 1: Oh right, everybody, welcome to you round Brook Show. On
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  Speaker 1: this Friday, September fifth. It is eleven pm here in Florence, Italy.
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  Speaker 1: I think this is the latest I've ever done a
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  Speaker 1: Yaron book show. I don't know it's closed. It's not
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  Speaker 1: the latest. All right, we are going to jump into
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  Speaker 1: the news. I will remind you there'll be a show tomorrow,
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  Speaker 1: not Sunday, so switching it around, and there will be
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  Speaker 1: a show tomorrow. Not so exactly what time yet, probably
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  Speaker 1: around two o'clock in the afternoon Eastern time. And uh
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  Speaker 1: uh so they'll be there'll be a show back a show.
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  Speaker 1: Then let's say, don't understand this comment. All right, let's
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  Speaker 1: jump in with the news, Milay. Let's start with Melay.
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  Speaker 1: This weekend is going to be an important weekend for
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  Speaker 1: the Malay administration. This weekend, uh the uh, there will
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  Speaker 1: be regional elections around the country. His political power will
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  Speaker 1: be involved in those. They're not expected to necessarily win.
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  Speaker 1: But how his political power his political party does in
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  Speaker 1: the elections this weekend is gonna give people an indication
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  Speaker 1: of what his chances are to do well in October,
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  Speaker 1: as we know, and October you've got parliamentary elections. Right now,
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  Speaker 1: Milai does not have the votes in parliament to continue
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  Speaker 1: the kind of economic reforms that he is engaged in
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  Speaker 1: and he is proposing and he would like to do,
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  Speaker 1: and then unnecessary, he needs, he needs to dramatically increase
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  Speaker 1: his position in parliament, and everybody is in suspense about
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  Speaker 1: what will happen in October. There is a lot of
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  Speaker 1: worry about this. The opposition is going all out against him,
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  Speaker 1: including now big allegations of fraud in his administration that
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  Speaker 1: relate to his chief of staff and to his sister,
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  Speaker 1: who is incredibly influential within the Midley administration. You know,
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  Speaker 1: they continued, people haven't exactly philosophically ideologically bought into his program.
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  Speaker 1: They will support him as long as they think that
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  Speaker 1: his program is benefiting the economy. Interest rates up, the
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  Speaker 1: peso has dropped in value, so there's a lot of
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  Speaker 1: there's a lot of angst. There's a lot of worry
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  Speaker 1: in Argentina right now. In Malay's popularity, at least based
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  Speaker 1: on the polls, has dropped quite a bit in spite
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  Speaker 1: of the amazing economic success that he has that he
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  Speaker 1: has brought forward. So it's it's going to be very suspenseful.
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  Speaker 1: It's going to be very suspenseful going into going into
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  Speaker 1: October when the parliamentary elections opposed as a consequence of
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  Speaker 1: all this suspense and what can Malae do and is
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  Speaker 1: fading against popularity? Right now, the stock market in Argentina
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  Speaker 1: has come down this year after going up one hundred
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  Speaker 1: and forty percent last year, one hundred and forty I
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  Speaker 1: didn't buy early enough last year, one hundred and forty
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  Speaker 1: percent of last year. It's down about what is it,
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  Speaker 1: six seven percent this year and people are waiting. People
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  Speaker 1: are waiting to see whether he can win another election.
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  Speaker 1: So we'll know a lot more after this weekend. I mean,
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  Speaker 1: nothing's definitive, but we'll have a lot more information about
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  Speaker 1: the popularity of his political party and the potential popularity
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  Speaker 1: his potential popularity going into this next election. So yeah,
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  Speaker 1: it's crunch time. It's crunch time. US financial institutions, Morgan
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  Speaker 1: Stanley City Bank are pretty positive overall about Argentina. They're
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  Speaker 1: actually Morgan Stanley's encouraging people to buy right now with
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  Speaker 1: the expectation that Milee will do well in the October
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  Speaker 1: Midwilm elections. But again I don't think anybody knows, and
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  Speaker 1: we will know more on Monday, so I will update
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  Speaker 1: you then about how the elections in Argentina went. But
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  Speaker 1: you know, it's my favorite politician in the world right now.
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  Speaker 1: That's not hard given the quality of the competition. And
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  Speaker 1: I really, really really hope he is successful. There's a
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  Speaker 1: real opportunity here to transform Argentina and as a consequence,
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  Speaker 1: Latin American maybe the world. And I hope Argentinian people
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  Speaker 1: let him play out, let him, you know, manifest this
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  Speaker 1: program fully so that they can appreciate that they can
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  Speaker 1: benefit from the freedom that that will unleash. And the freedom,
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  Speaker 1: of course will unleash your significant economic growth. So Argentinians,
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  Speaker 1: pay attention, pay attention to the success you've had so far,
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  Speaker 1: and don't throw it all down. Don't don't don't throw
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  Speaker 1: it all out and and and revert back to your peronist, statist,
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  Speaker 1: uh interventionist history. Today, we've got a job's report, a
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  Speaker 1: job support from the US government. First jobs report we've
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  Speaker 1: received since UH Donald Trump fired the head of the
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  Speaker 1: U S Bureau of Labor Statistics. But and this is
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  Speaker 1: a big butt, this is important. Uh. The the new
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  Speaker 1: head of the U S Bureau of Labor Statistics, the
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  Speaker 1: guy who will replace the fired woman, has not yet
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  Speaker 1: been approved by Congress, so he is not in position
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  Speaker 1: to give Trump the kind of numbers he would like.
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  Speaker 1: And as a consequence, what we got today according to
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  Speaker 1: Lutnik and and the administration by complete manipulation of bad
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  Speaker 1: guys within within the of libor statistics. She can't believe
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  Speaker 1: any of these numbers. Of course, the US added a
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  Speaker 1: very disappointing twenty two thousand jobs in August. That figure
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  Speaker 1: was a significant below, significantly below what it had added
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  Speaker 1: in the previous months seventy nine thousand, and significant below
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  Speaker 1: expectations the US average. They look back again at the
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  Speaker 1: last few months, and over the last three months, or
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  Speaker 1: the three months ending in July, US averaged about twenty
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  Speaker 1: eight thousand jobs as compared to one hundred and ninety
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  Speaker 1: six thousand jobs on average per month in the previous
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  Speaker 1: three months. So the labor market is cracking up.
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  Speaker 2: This is a really, really really weak labor market, which
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  Speaker 2: suggests a week enomy.
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  Speaker 1: Now you know, the let's see the jobs in posts
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  Speaker 1: on Friday included downward revision for the month of June.
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  Speaker 1: So the US label market had lost thirteen thousand jobs
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  Speaker 1: in June. So June was actually looking back a negative month.
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  Speaker 1: If you remember, originally it was over one hundred thousand
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  Speaker 1: jobs created, then it was revised downward to like twenty
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  Speaker 1: something thousand jobs, and now it's been revised downwards even
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  Speaker 1: more to negative thirteen thousand, So things look bad. This
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  Speaker 1: is the June if that number holds lost of thirteen
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  Speaker 1: thousand jobs will be the first monthly job lost since
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  Speaker 1: December twenty twenty since COVID. So things not going well
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  Speaker 1: and this will probably and the markets seem to be
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  Speaker 1: responding in this way, probably dry the FED to lower
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  Speaker 1: interest rates. This is probably an indication of the US
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  Speaker 1: economy settling into a significant slow down, potentially a recession.
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  Speaker 1: So you're seeing expectations short term rates going down. The
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  Speaker 1: rates will go down, expectations are the long term rates
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  Speaker 1: are coming down. The thirty years gone from close to
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  Speaker 1: four point five to under full point two, and the
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  Speaker 1: dollar has gone down a lot. People don't want to
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  Speaker 1: hold dollars. One of the advantages of holding dollars was
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  Speaker 1: the high interest rates. As interstates are going down, people
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  Speaker 1: are selling their dollars and shifting into other currencies or
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  Speaker 1: other assets, and the stock market, on the other hand,
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  Speaker 1: is going up and stock marks going up for a
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  Speaker 1: simple reason because as the interstates go down, I've told
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  Speaker 1: you this many times, asset prices go up. So stock
• 9:56
  Speaker 1: market being an asset, goes up. Now that might be
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  Speaker 1: short sighted because in spite of interestate's going down. If
• 10:03
  Speaker 1: interestates are going down, because we're heading towards a session,
• 10:06
  Speaker 1: the session might outweigh the decline in interst rates in
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  Speaker 1: terms of their impact on stock crisis, and this might
• 10:13
  Speaker 1: be a short term rally. Although of course stocks are
• 10:18
  Speaker 1: trading these days at all time highs. It's interesting to
• 10:25
  Speaker 1: look at the distribution of kind of the jobs. This
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  Speaker 1: job market is in real trouble. So if you look
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  Speaker 1: at the last three months, the last three months, mining
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  Speaker 1: has lost thirteen thousand jobs, Construction ten thousand jobs. Oh
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  Speaker 1: my god, I can't believe this number. Manufacturing, Remember all
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  Speaker 1: the jobs coming back. Wasn't that the effective tariffs were
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  Speaker 1: going to have all the jobs were going to come back. Well,
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  Speaker 1: it turns out over the last three months, Manufacturing has
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  Speaker 1: lost thirty one thousand jobs, Information technologies minus fifteen, business
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  Speaker 1: professional minus fifty one, federal government minus thirty four. Ya's
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  Speaker 1: a one job loss. I cheer Finance basically flat, no
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  Speaker 1: job gains over the last three months. Right now. The
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  Speaker 1: only sector that is dramatically increasing employment, the only sector
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  Speaker 1: we see a big move. I mean there others like lee'sion,
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  Speaker 1: hospitality where creating a few jobs, and other services, transportation
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  Speaker 1: a little bit, warehousing, retail trade a little bit increased.
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  Speaker 1: But the one that's really big, which is driving all
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  Speaker 1: the job gains, really all the positive or whatever positive
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  Speaker 1: job gains they are, is healthcare. Healthcare is where almost
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  Speaker 1: all the jobs are being created right now. It's not
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  Speaker 1: a good not a good job market. You know. Gold
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  Speaker 1: as a consequence of the expectation of interstates going down
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  Speaker 1: and the potential for inflation going up, and just generally weakness,
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  Speaker 1: the weakness of the dollar, the weakness of the currency,
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  Speaker 1: the weakness of the economy, all of those play into
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  Speaker 1: gold going up. Gold is again hitting all time highs.
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  Speaker 1: It's just going up and up and up. Bitcoin was
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  Speaker 1: up today as well because the Naszak was up. Bitcoin
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  Speaker 1: is a is a high beta. With the NASDAK they
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  Speaker 1: go up together. So bitcoin was up as well. But
• 12:29
  Speaker 1: but gold is is a record highs and it's pretty
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  Speaker 1: amazing the rallying gold over the last was it year? Yeah,
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  Speaker 1: since the since the end of last year. Trump has
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  Speaker 1: been good for gold, really good for gold since the election.
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  Speaker 1: All Right, and finally I just make this point. You know,
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  Speaker 1: you know, I don't like the gloats and everything, but still,
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  Speaker 1: why not all those pseudo economists who claim the tasks
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  Speaker 1: will bring back manufacturing. The economists all said, including me, no,
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  Speaker 1: they won't bring back manufacturing. Indeed, they'll hurt jobs, they'll
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  Speaker 1: hurt consumers, they'll hurt the economy. Reality is seventy eight
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  Speaker 1: thousand manufacturing jobs already lost this year, as I said,
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  Speaker 1: thirty one thousand just in the last three months. So
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  Speaker 1: now we'll see it could get better. It's true, it's
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  Speaker 1: too early. Maybe maybe economics, the science is all wrong,
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  Speaker 1: Maybe US economists are all wrong, and maybe ultimately, ultimately
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  Speaker 1: all this will will will shift and taris will prove
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  Speaker 1: to be really really good for the economy. We will,
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  Speaker 1: we will see. But so far, so far, it looks like, yeah,
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  Speaker 1: this is not good tariffs are not good. Deporting immigrants
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  Speaker 1: is not good. Those two kind of cornerstone policies of
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  Speaker 1: the Trump administration are really hurtful to the US economy.
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  Speaker 1: Other things he's doing a good but those two awful
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  Speaker 1: for the US economy. And I think we're gonna start
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  Speaker 1: seeing the consequence we're seeing in jobs. We're seeing in
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  Speaker 1: jobs twenty two thousand jobs per month is way below
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  Speaker 1: providing employment for people who are joining the job market. Now,
• 14:51
  Speaker 1: some of this could be some of this could be
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  Speaker 1: Some of it could be that a lot of these
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  Speaker 1: a lot of the job losses are because people are
• 15:05
  Speaker 1: being kicked out of the country, and the lack of
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  Speaker 1: job gains is because Americans are not replacing them as
• 15:16
  Speaker 1: everybody said they would. I mean, we'll get to immigration
• 15:20
  Speaker 1: a little bit, but immigration, tariffs not good for jobs.
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  Speaker 1: Number of people working is not growing, is not growing,
• 15:31
  Speaker 1: and that's not good. That's not good for economic growth,
• 15:34
  Speaker 1: not good for economic prosperity. All right. One of the
• 15:39
  Speaker 1: most I don't know, shameful, ridiculous events I've ever seen,
• 15:52
  Speaker 1: I think that's true, happened today at the White House.
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  Speaker 1: You can find it online. Is big table Donald Trump
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  Speaker 1: and his wife Milania. Uh, sitting at sitting at the table.
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  Speaker 1: And and to Trump's right is Mark Zuckerberg. To Millennia's
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  Speaker 1: left is Bill Gates. Across from Trump is Tim Cook
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  Speaker 1: and uh and uh Sergey Brinn and uh the current
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  Speaker 1: Uh Sam Altman is there, Uh the current CEO of
• 16:28
  Speaker 1: current CEO of Google whose name escapes me right now?
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  Speaker 1: Uh is there the current CEO of I'm gonna get
• 16:38
  Speaker 1: you these names, all right, So we got Microsoft, Satya Nadella,
• 16:45
  Speaker 1: Sachi A Nadella, who's the current CEO of Microsoft, was
• 16:49
  Speaker 1: there with Bill Gates. Uh. And and as I said,
• 16:52
  Speaker 1: you had some Altiman, he had a m D CEO
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  Speaker 1: Lisa Sue Apples, Tim Cook, metas Mark Zuckerberg, Google Sunda
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  Speaker 1: Pichai Gey Brin uh and and and more and more.
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  Speaker 1: I mean David Sachs was there, who works at the Administration,
• 17:11
  Speaker 1: comes from the tech VC background. Anyway, you know, they
• 17:15
  Speaker 1: were have a meeting, I guess to celebrate that they
• 17:18
  Speaker 1: had an event earlier in the Oval Office to talk
• 17:20
  Speaker 1: about AI and education, which is a campaign thing from
• 17:24
  Speaker 1: that Millennia is involved in. And uh, they they thought
• 17:29
  Speaker 1: given the they guess that the gravitas of the people
• 17:34
  Speaker 1: in the room. Trump thought this would be great to
• 17:36
  Speaker 1: bring in journalists, and they have a taped and filmed
• 17:39
  Speaker 1: and and so once the cameras are rolling, Trump goes
• 17:44
  Speaker 1: to each one of these CEOs and and tell us
• 17:47
  Speaker 1: a little bit about your company. And every one of
• 17:49
  Speaker 1: the CEOs, every one of them, maybe with exception of
• 17:52
  Speaker 1: Bill Gates, but every one of them. No Bill Gates
• 17:55
  Speaker 1: Doys the two. They all either start or and with
• 18:00
  Speaker 1: massive praise of Donald Trump. It's like those cabinet meetings,
• 18:04
  Speaker 1: like those North Korea style cabinet meetings. Well now he's
• 18:08
  Speaker 1: doing it with tech executives, the most powerful business people
• 18:13
  Speaker 1: in the world groveling before Donald Trump. So they all
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  Speaker 1: get to say how wonderful administration is, how good it is,
• 18:23
  Speaker 1: how much they appreciate him. And then he says, well,
• 18:27
  Speaker 1: how much are you investing in the country, And they
• 18:30
  Speaker 1: each throw out a number. And it was funny because
• 18:33
  Speaker 1: Mark Zuckerberg goes, you know, I don't know, and then
• 18:37
  Speaker 1: he says six hundred billion. And then later they catch
• 18:41
  Speaker 1: him on a hot mic where he says he says
• 18:44
  Speaker 1: to Trump, he says, you know, I wasn't really ready
• 18:47
  Speaker 1: for that announcement. I wasn't sure what number you wanted
• 18:51
  Speaker 1: me to go with, just to give you a scam
• 18:56
  Speaker 1: a sense of how scammy this all is. Right, what
• 19:01
  Speaker 1: number does Trump want? Six hundred billion, three hundred billion?
• 19:06
  Speaker 1: And Trump was going, oh that's a big number. That's
• 19:08
  Speaker 1: good number. And Apple said six hundred Oh good number
• 19:10
  Speaker 1: of big number. Then you know on Google said I
• 19:13
  Speaker 1: don't know, two hundred billion or whatever. They all they
• 19:15
  Speaker 1: all multi very high billions. And Trump said, I mean
• 19:19
  Speaker 1: it really was this, this taking these I mean, these
• 19:24
  Speaker 1: people who often humiliated by Congress and now they're put
• 19:27
  Speaker 1: in this position. It's just terrible. I mean, at least
• 19:30
  Speaker 1: articulate of them. I was surprised. It was Tim Cook
• 19:34
  Speaker 1: who knew he was supposed to praise Trump and find
• 19:37
  Speaker 1: ways to praise him, and he and he kind of
• 19:39
  Speaker 1: found roundabout ways to do it. I mean, they've all lived,
• 19:42
  Speaker 1: they've all learned the sad, pathetic really lesson that you
• 19:49
  Speaker 1: need to suck up to Donald Trump in order to
• 19:52
  Speaker 1: get anything done. And this is all about personal This
• 19:56
  Speaker 1: is all put personal stuff. This is all about what
• 20:04
  Speaker 1: what he thinks you'd think of him. And you can
• 20:08
  Speaker 1: watch the entire video. It's twenty four minutes long where
• 20:10
  Speaker 1: they go on the table and everyone says these says
• 20:13
  Speaker 1: nice things about Trump, and then it's just I don't know,
• 20:18
  Speaker 1: it's can you imagine, I don't know, it's just so pathetic.
• 20:24
  Speaker 1: Can you imagine the heroes of Al Shrugged, you know,
• 20:29
  Speaker 1: participating in something like this. I mean, these are and
• 20:34
  Speaker 1: I have a huge amount of respect for these people.
• 20:36
  Speaker 1: I admire them greatly, and they make whatever positives are
• 20:41
  Speaker 1: going on in the economy today, these business leaders are
• 20:45
  Speaker 1: the ones pushing us forward, dragging us forward, enabling us
• 20:50
  Speaker 1: to be successful. And for them to put themselves in
• 20:55
  Speaker 1: this position, for us as a country to be in
• 21:00
  Speaker 1: a position where this is what you must do and
• 21:03
  Speaker 1: what you must do in public, it's just horrible. It's
• 21:11
  Speaker 1: just horrible. And and this is all while you know,
• 21:18
  Speaker 1: two of the major CEOs, the CEO of Microsoft and
• 21:21
  Speaker 1: the CEO of Google, of both Indians. And we've talked
• 21:26
  Speaker 1: about what NAGA is saying about Indians right now, send
• 21:30
  Speaker 1: them back, we don't need them, We don't want Indians
• 21:32
  Speaker 1: in this country. This is the background of of some
• 21:38
  Speaker 1: of this. Uh. They all know tariffs are a disaster
• 21:42
  Speaker 1: and horrible and stupid, and of course many of them
• 21:46
  Speaker 1: have gotten carve outs, like Apple. App has got a
• 21:49
  Speaker 1: huge carve out, and it's gotten because you know, Tim
• 21:53
  Speaker 1: Cook has built up even from the first Trump administration,
• 21:57
  Speaker 1: a relationship with Trump. But this is it, this is
• 22:02
  Speaker 1: you know, what's important now is not your productive genius,
• 22:08
  Speaker 1: your productive abilities, your innovation, your entrepreneurship, your managerial skills
• 22:13
  Speaker 1: to a largerstwan. What's important right now is your ability
• 22:19
  Speaker 1: to manipulate Donald Trump. And I say manipulate because none
• 22:22
  Speaker 1: of these people are honest, none of them are friendly
• 22:25
  Speaker 1: to Trump, none of them like Trump, none of them
• 22:27
  Speaker 1: believe in what he's doing. So they have to manipulate them.
• 22:35
  Speaker 1: And really, you know, it really is. I mean, Rand
• 22:38
  Speaker 1: has this amazing, amazing quote which I wish I had
• 22:46
  Speaker 1: with me. I don't about you know when it starts
• 22:50
  Speaker 1: when it becomes about who you know rather than what
• 22:54
  Speaker 1: you do. And in a sense, you know, when the
• 23:00
  Speaker 1: politicians of all the power we're in we're in deep,
• 23:06
  Speaker 1: deep trouble. We're in deep, deep trouble as a culture,
• 23:09
  Speaker 1: as a political system, and where there's no complaining about this,
• 23:14
  Speaker 1: you know, no complaining about this, you know, open a
• 23:18
  Speaker 1: CEO sal Altmann, thank Trump for being such a pro business,
• 23:22
  Speaker 1: pro innovation president. Quote. It's very refreshing change. I think
• 23:26
  Speaker 1: it's going to set us up for a long period
• 23:29
  Speaker 1: of leading the world, and that wouldn't be happening without
• 23:32
  Speaker 1: your leadership. Gates seated next to Millennia Trump thank the
• 23:38
  Speaker 1: President for quote for setting the tone such that we
• 23:41
  Speaker 1: could make a major investment in the United States and
• 23:43
  Speaker 1: have some key manufacturing advanced manufacturing here when you know,
• 23:49
  Speaker 1: all of this is a scam, right, We're not investing
• 23:52
  Speaker 1: in the US. None of this is actually happening. And
• 24:00
  Speaker 1: y yeah, Trump told Zuckerberg afterwards, Again, this is on tape.
• 24:12
  Speaker 1: This is the beginning of your political career because of
• 24:16
  Speaker 1: his ability to suck up to h Let's see. Yeah.
• 24:31
  Speaker 1: The one thing I'll say is that you know, the
• 24:40
  Speaker 1: oh cocos as well suffer cats? Was USA there? Uh
• 24:49
  Speaker 1: you know and again uh you you quote you've unleashed
• 24:52
  Speaker 1: American innovation and creativity. Yeah, there was none of that before.
• 24:56
  Speaker 1: All the work you're doing is basically every cabinet post,
• 24:59
  Speaker 1: in addition to what's coming out of the Wildehouse, is
• 25:01
  Speaker 1: making it possible for America to win. I think this
• 25:04
  Speaker 1: is the most exciting time in America. Ever, I you know,
• 25:13
  Speaker 1: I don't know. I don't know what to say. This
• 25:16
  Speaker 1: is what we're down to. I will say this that
• 25:23
  Speaker 1: MEGA is not happy, MAGA is not happy. I mean,
• 25:28
  Speaker 1: how could Trump invite Bill Gates? Bill Gates is not
• 25:32
  Speaker 1: a common CEO of anything. And he's like, he's responsible
• 25:36
  Speaker 1: putting chips in out in US and responsible for for
• 25:40
  Speaker 1: for vaccines and for research. I mean, he's a globalist.
• 25:45
  Speaker 1: He's clearly a globalist, whatever the hell that world means.
• 25:48
  Speaker 1: How dare Trump invite Bill Gates? Uh? So yes? Uh?
• 25:57
  Speaker 1: You know, a Mega, a very pro to Mega account
• 26:01
  Speaker 1: tweeted something has gone very wrong tonight at the White
• 26:05
  Speaker 1: House dinner. On the left sitting next to Trump is
• 26:08
  Speaker 1: Bill Gates. On the right, sitting next to Trump is
• 26:10
  Speaker 1: Mark Zuckerberg being back at one Musk and Donald Trump unity.
• 26:17
  Speaker 1: So yeah, people were noticing that the one guy not
• 26:20
  Speaker 1: invited to today's dinner, not invited inspite of being heavy
• 26:25
  Speaker 1: into AI is Elon Musk. Islan Osk is out. You
• 26:31
  Speaker 1: know another MAGA account. I'm not a fan of Bill
• 26:35
  Speaker 1: Gates at all, Like most of you ons, Elon Musk
• 26:38
  Speaker 1: should be at the White House tonight. Without him, without AX,
• 26:41
  Speaker 1: without free speed, supposedly none of this happens. Mike Sonovitch,
• 26:48
  Speaker 1: there's no reason for Bill Gates to be in the
• 26:50
  Speaker 1: White House. Um, yeah, the president is another quote. The
• 27:00
  Speaker 1: Trump needs tech advisors. Bill Gates and Mark zuckerbeb should
• 27:04
  Speaker 1: not be anywhere near the White House. They both found
• 27:06
  Speaker 1: radical left groups opposed to MEGA and Trump policies. So, uh,
• 27:13
  Speaker 1: MEGA is not happy. But then they have APPY, right,
• 27:16
  Speaker 1: They never appy unless it's a doom and gloom and
• 27:19
  Speaker 1: h and we're predicting disaster. They are not going to
• 27:24
  Speaker 1: be happy, all right. Uh, if we're talking about Musk,
• 27:31
  Speaker 1: then the amazing news today is the devoted directors of
• 27:36
  Speaker 1: Tesla has asked the shareholders to approve a pay package
• 27:42
  Speaker 1: for Mosque. Now, this is a pay package that involves stock,
• 27:47
  Speaker 1: the granting of stock true ln mosque on the achievement
• 27:53
  Speaker 1: of certain milestones. But this is an eightier plan. It's
• 27:58
  Speaker 1: an eightier plan. And if Musk hits all the milestones
• 28:04
  Speaker 1: over the eight years, which would involve the stock of
• 28:06
  Speaker 1: Tesla going up eight acts over the next eight years,
• 28:10
  Speaker 1: so it's a lot. He would actually gain stock with
• 28:17
  Speaker 1: one trillion. Yes, with the t one trillion dollars. Even
• 28:24
  Speaker 1: the courts ruled that his previous pair package, which paid
• 28:28
  Speaker 1: him fifty billion al SAT stock, also based on milestones,
• 28:33
  Speaker 1: threw that out. Well, now they really upped it one
• 28:37
  Speaker 1: trillion dollars if you know he reaches the milestones. The
• 28:45
  Speaker 1: idea is that this is to keep it focused on Tesla,
• 28:49
  Speaker 1: to prevent Hi from running away to Washington and doing
• 28:51
  Speaker 1: his stuff. And you know, there's a four hundred and
• 28:57
  Speaker 1: twenty five million incentive Lady Leyden stock options. So these
• 29:02
  Speaker 1: stock options that would be granted roughly equivalent to twelve
• 29:05
  Speaker 1: percent of Tesla stock outstanding, So this would be new stock.
• 29:08
  Speaker 1: There will be issues for him. He already holds four
• 29:11
  Speaker 1: hundred million shares of Tesla, so this would double his
• 29:14
  Speaker 1: position in Tesla, and he controls another three hundred million
• 29:18
  Speaker 1: or so of stock options. If the stock really goes
• 29:24
  Speaker 1: up eightfold, he will be more than a trillion in, right,
• 29:28
  Speaker 1: he will be a multi trillion in. So the PARKSI
• 29:34
  Speaker 1: came out today, so shareholders are reviewing it. My guess
• 29:38
  Speaker 1: is they'll approve it. I don't think they're gonna they're
• 29:40
  Speaker 1: gonna turn it down. For example, all options vest if
• 29:44
  Speaker 1: Tesla achieves eight point five trillion market capitalization that would
• 29:48
  Speaker 1: put Tesla stock at very roughly twenty seven hundred dollars
• 29:51
  Speaker 1: a share and make twenty twenty five Performance Award worth
• 29:55
  Speaker 1: a coop one trillion dollars. I'm reading from the release
• 30:00
  Speaker 1: US total Tesla stock, assuming no additional sales or legal issues,
• 30:04
  Speaker 1: would be worth roughly three trillion dollars. Anyway, we'll see
• 30:13
  Speaker 1: this is this is pretty uh, this is pretty amazing.
• 30:19
  Speaker 1: Just to give you a sense of proportion, right, Apple,
• 30:23
  Speaker 1: which doesn't pay a CEO anywhere close to that amount
• 30:25
  Speaker 1: of money. Apple is expected to generate one hundred and
• 30:28
  Speaker 1: thirty seven billion dollars in earning before interest, taxes, deduction
• 30:34
  Speaker 1: depreciation in twenty twenty five so EBIDAH of one hundred
• 30:41
  Speaker 1: and thirty seven billion. Tesla is expected to generate about
• 30:45
  Speaker 1: thirteen billion in twenty twenty five IBIDA. So Apple is
• 30:51
  Speaker 1: you could argue ten times more profitable than Tesla. Tesla's
• 30:56
  Speaker 1: brand is musk is buying into a Muscus vision, and
• 31:00
  Speaker 1: it's buying into Tesla taking over the world, whether with
• 31:03
  Speaker 1: cars with information or with robots which they're building. It
• 31:08
  Speaker 1: is not none of this competition none of this testa
• 31:12
  Speaker 1: valuation is basically built on the business as it's covered
• 31:22
  Speaker 1: to link performing. I think that you know, some of
• 31:26
  Speaker 1: the some of the milestones were kind of interesting. They
• 31:30
  Speaker 1: had milestones for how many how many Teslas? For example,
• 31:35
  Speaker 1: one of the milestones is delivering twenty million Tesla vehicles
• 31:39
  Speaker 1: or a million non vehicle robots. Interesting that it's all
• 31:45
  Speaker 1: twenty million Testla vehicles or a million non vehicle robots
• 31:49
  Speaker 1: over the next decade. Teslas sold today eight million vehicles,
• 31:54
  Speaker 1: so that would mean you know, over twice as many
• 31:59
  Speaker 1: in the next ten years. Other product goals include putting
• 32:02
  Speaker 1: a million robot taxis into service and reaching a three
• 32:06
  Speaker 1: month average of ten million subscribers for its full self
• 32:11
  Speaker 1: driving service. Sees a big, big goals. This is good,
• 32:20
  Speaker 1: so you know they've got their ambitious their ambitious. Just
• 32:26
  Speaker 1: to give you a sense of the scale of the
• 32:29
  Speaker 1: market cap targets, the company described each as a multiple
• 32:32
  Speaker 1: of another company's can't market valuation. The first The first
• 32:37
  Speaker 1: was thirty six times general motives double Apple or Nvidia.
• 32:44
  Speaker 1: And again I just described how much more profitable Apple
• 32:48
  Speaker 1: is than Tesla. All right, filing US included which is interesting,
• 32:57
  Speaker 1: this proxy statement the chair Old Sheldon proposal for Tesla
• 33:02
  Speaker 1: to invest in Musk's artificial intelligence startup Xai. Musk has
• 33:07
  Speaker 1: repeatedly mobilizes business empire to boost Xai, with SpaceX agreeing
• 33:12
  Speaker 1: in July to invest two billion in it. Tesla's board
• 33:16
  Speaker 1: didn't offer a recommendation of how investors should vote, so,
• 33:22
  Speaker 1: you know, trying to boost up xa and I think
• 33:24
  Speaker 1: Xai bought Twitter. So Musk's assets are all going to
• 33:30
  Speaker 1: be interwound and ultimately all you know, the two main
• 33:37
  Speaker 1: entities will be Tesla in SpaceX, which will invest in everything,
• 33:42
  Speaker 1: else which will invest in other stuff. This all at
• 33:46
  Speaker 1: a time when Tesla's profits dropped seventy one percent in
• 33:49
  Speaker 1: the first quarter and sixteen percent in the second quarter.
• 33:52
  Speaker 1: So again, Tesla's not doing well, but people believe in
• 33:57
  Speaker 1: Tesla's management believes that it will be doing phenomenally well
• 34:03
  Speaker 1: in the future. All right, what else? Oh yeah, I
• 34:13
  Speaker 1: told you that the National Conservative Conference would be the
• 34:18
  Speaker 1: gift that gives on giving. So today Josh Holly spoke
• 34:22
  Speaker 1: the other senator from Missouri. We now have to watch
• 34:25
  Speaker 1: two different senators from Missouri for their insanity, for their
• 34:29
  Speaker 1: sorry nationalist insane views, This is This is a quote
• 34:40
  Speaker 1: from from Josh Hollty from his presentation for the at
• 34:44
  Speaker 1: the National Conservative Movement Confidence uh TO today, and this
• 34:53
  Speaker 1: is what he says about AI. This is at about
• 34:55
  Speaker 1: the same time the President is hosting this big dinner
• 34:58
  Speaker 1: for all these u CEOs praising AI, determined to make
• 35:05
  Speaker 1: the United States a lead an AI and a global scale,
• 35:08
  Speaker 1: praising their investments in these massive silver farms to AI
• 35:14
  Speaker 1: silver farms, where the administration is going all in on AI.
• 35:18
  Speaker 1: This is what Josh Harley has to say about AI.
• 35:22
  Speaker 1: Not content with addicting our kids to their gizmos, our
• 35:26
  Speaker 1: tech elites have turned with rabid enthusiasm to AI, hailing
• 35:32
  Speaker 1: it as the greatest contribution to humanity, even claiming it
• 35:37
  Speaker 1: will save the world. Of course, it will also make
• 35:42
  Speaker 1: them unconditional sums of money. But only the most cautious
• 35:48
  Speaker 1: articulate the real reason for the fervo AI will reinvent
• 35:56
  Speaker 1: human existence is fulfilling transhumanist goals. If it proceeds unchecked,
• 36:07
  Speaker 1: the tech barans already the most powerful people on the planet.
• 36:11
  Speaker 1: This is why the second to Donald Trump will be
• 36:14
  Speaker 1: more powerful than ever. I mean, they're really afraid of
• 36:20
  Speaker 1: this transhumanism stuff. They're really afraid of this idea of
• 36:25
  Speaker 1: using tech and biotech ultimately to make human beings better, stronger, smarter, faster, better.
• 36:37
  Speaker 1: It scares the Jesus out of these Christian Conservatives. It
• 36:43
  Speaker 1: goes against this idea that you were made in the
• 36:46
  Speaker 1: image of God, and you know, and we have to
• 36:48
  Speaker 1: be we can't play God, and if we play God,
• 36:53
  Speaker 1: it's the end of the world. But isn't it amazing
• 36:57
  Speaker 1: that the thinkers behind the national Conservative movement I think
• 37:00
  Speaker 1: is behind out a nationalists shift politically, people like Josh
• 37:05
  Speaker 1: Holly really afraid of AI, and I'm sure Just Holly
• 37:11
  Speaker 1: would love to regulate the hell out of AI. I
• 37:15
  Speaker 1: wonder to what extent Josh Holly and the Vice President
• 37:26
  Speaker 1: are aligned on this, because you know, our VP was
• 37:34
  Speaker 1: a vinch capitalist once and is very friendly with the
• 37:37
  Speaker 1: tech crowd and is very in with the group of
• 37:40
  Speaker 1: people sitting around that table. I mean, Jadie Vance considers
• 37:46
  Speaker 1: himself one of these tech people and his you know,
• 37:53
  Speaker 1: his sponsor, Peter Teel. You could argue Peter Teel is
• 38:00
  Speaker 1: kind of interested in this transhumanism stuff, certainly in life extension,
• 38:05
  Speaker 1: but enhancing human beings and I don't. And indeed, Peter
• 38:09
  Speaker 1: TiO is just given it is just being higher to
• 38:12
  Speaker 1: give a series of lectures on the Antichrist, on the
• 38:16
  Speaker 1: coming of the Antichrist, and Peter Teo believes that the
• 38:18
  Speaker 1: Antichrist is a Luddite. The antichrist does a hate of technology.
• 38:21
  Speaker 1: The Antichrist is somebody who will scare people about technology
• 38:25
  Speaker 1: and become an authoritarian, become take control within anti technology message,
• 38:32
  Speaker 1: and then use technology, of course to oversee all of
• 38:35
  Speaker 1: us and to govern and rule over all of us.
• 38:39
  Speaker 1: But Holly doesn't like AI. But what he doesn't like
• 38:45
  Speaker 1: more than that is the tech businessman. He doesn't like businessmen,
• 38:49
  Speaker 1: he doesn't like profit, and he certainly doesn't like transhumanism.
• 38:56
  Speaker 1: I mean, it's one of the things that they hate
• 38:58
  Speaker 1: so much about trans movement. I mean, look, there's a
• 39:00
  Speaker 1: lot not to like about the trans movement, and there's
• 39:04
  Speaker 1: a lot of problems with the whole concept of trans
• 39:07
  Speaker 1: But what they really hate is this idea of taking
• 39:17
  Speaker 1: taking control of yourself and being able to change yourself
• 39:24
  Speaker 1: in profound ways, which technology is going to allow us
• 39:28
  Speaker 1: to do. And they're petrified of this. They're petrified of
• 39:35
  Speaker 1: us becoming little gods and and and shaping not just
• 39:42
  Speaker 1: you know, not just our soul, but also a body
• 39:46
  Speaker 1: and now how it works and how it functions and
• 39:51
  Speaker 1: hopefully for the better. So uh yeap, that is the
• 40:03
  Speaker 1: latest and National Conservative Conference. I will have more to
• 40:06
  Speaker 1: say about the National Conservatives once the conference is done
• 40:08
  Speaker 1: and and once I have a time to review kind
• 40:12
  Speaker 1: of all the different talks there. But I thought that
• 40:14
  Speaker 1: quote was definitely worth sharing with you. Talk about immigration.
• 40:18
  Speaker 1: The the ICE had its biggest ray today, biggest raid
• 40:23
  Speaker 1: on an employer that it's done so far. And this
• 40:28
  Speaker 1: this was a raid done in Georgia, in the South
• 40:33
  Speaker 1: in Georgia. Uh. And they raided you know that that
• 40:36
  Speaker 1: that unproductive. Uh, you know, just just just leachy company
• 40:43
  Speaker 1: called Hyundai. Uh. They they raided a Hyundai EV plans.
• 40:47
  Speaker 1: You know, this is part of the reshoring. This is
• 40:51
  Speaker 1: bringing manufacturing to America. This is building electric EV batteries
• 40:55
  Speaker 1: in the United States. Uh. This is a factory that's
• 40:58
  Speaker 1: a joint venture between Hyundai and LG the two big
• 41:03
  Speaker 1: Korean conglomerates, And it is building batteries, batteries built in America,
• 41:12
  Speaker 1: which is the goal of the Biden administration. Now the
• 41:14
  Speaker 1: goal of the Trumpet administration, but we shouldn't let them
• 41:17
  Speaker 1: build if they're building it with undocumented illegal immigrants. So
• 41:25
  Speaker 1: on Thursday yesterday, ICE arrested four hundred and seventy five people,
• 41:30
  Speaker 1: four hundred and seventy five people, most of them are
• 41:33
  Speaker 1: South Korean citizens at the construction site fund for the
• 41:39
  Speaker 1: Hondai for the battery plants near Savannah, Jeogia workers. The
• 41:46
  Speaker 1: claim is that the workers were in the United States
• 41:49
  Speaker 1: illegally or were working unlawfully. Not sure what that means.
• 41:54
  Speaker 1: Maybe they were here legally but not on work visas.
• 42:00
  Speaker 1: Investigators are still determining employment details of those arrested, some
• 42:04
  Speaker 1: of whom work for subcontracts, not for the main companies,
• 42:07
  Speaker 1: not for Hyundai or LG. And this is what the
• 42:13
  Speaker 1: agent said, This operation underscores that commitment to protecting jobs
• 42:17
  Speaker 1: for Trogians and Americans and showing a level playing field
• 42:20
  Speaker 1: for businesses that comply with the law, safeguting the integrity
• 42:23
  Speaker 1: of economy, and protecting workers from exploitation. I'm sure these
• 42:27
  Speaker 1: workers were being exploited. I'm sure they had no other options,
• 42:33
  Speaker 1: and I'm sure this is going to make I mean,
• 42:35
  Speaker 1: I love the fact that he cares about the workers.
• 42:37
  Speaker 1: I'm sure this is going to make their lives batter,
• 42:40
  Speaker 1: the fact that they've been arrested now and that they
• 42:42
  Speaker 1: will probably be deported out of the United States. So
• 42:46
  Speaker 1: these are kind of the fallacies they put together. And
• 42:49
  Speaker 1: I'm convinced one hundred percent that Hyundai and LG will
• 42:54
  Speaker 1: not have any problem at all finding Americans to do
• 42:57
  Speaker 1: the work that needs to be done. That they can
• 43:00
  Speaker 1: build a plant and manufactures batteries in the United States
• 43:06
  Speaker 1: in a cost effective way. I'm sure that's the case.
• 43:10
  Speaker 1: A lot of Trojans would love to go and do
• 43:12
  Speaker 1: the work that these Korean illegal immigrants were doing. Know
• 43:18
  Speaker 1: who we're going after. We're going after people who are working,
• 43:23
  Speaker 1: people who are working for a living, producing, creating, building
• 43:30
  Speaker 1: When an economy with very low unemployment so far things
• 43:33
  Speaker 1: might change soon. So far, very low unemployment, and we
• 43:40
  Speaker 1: have people who come to this country to work, to produce,
• 43:42
  Speaker 1: to create, and who are being employed by companies that
• 43:48
  Speaker 1: are building in America. Exactly what Donald Trump wants foreign
• 43:52
  Speaker 1: countries to build in America and the building in America,
• 43:55
  Speaker 1: but to build in America, they're using workers who are
• 44:01
  Speaker 1: good at it, maybe cost effective and what we're going
• 44:10
  Speaker 1: to do is to rest them all and send them back.
• 44:13
  Speaker 1: Send them back. You know, South Korea's worried for citizens.
• 44:20
  Speaker 1: It has confirmed that South Korean citizens were among those
• 44:23
  Speaker 1: in custodies. This was a big operation because there were
• 44:28
  Speaker 1: a lot of people to arrest. Included Department of Homeland Security, Immigration,
• 44:32
  Speaker 1: custom Ice, and the FBI, and it also included the
• 44:38
  Speaker 1: Atlantic Division of the Bureau of Alcohol, Tobacco, Firearms and Explosives.
• 44:43
  Speaker 1: Just an amazing, amazing operation of all these departments protecting
• 44:49
  Speaker 1: your life, protecting you from I don't know from what,
• 44:53
  Speaker 1: from terrorists, from your rights being violated, how these hard
• 44:57
  Speaker 1: working South Koreans violating anybody's rights. By the way, immigration
• 45:08
  Speaker 1: operation has brought the construction to a halt at the
• 45:10
  Speaker 1: battery plant. UH and UH, the the companies responsible for
• 45:17
  Speaker 1: building it are operating with authorities UH, the South Koreans, UH,
• 45:24
  Speaker 1: you know, sending UH, sending somebody to review I guess
• 45:28
  Speaker 1: the treatment of the South Korean the that are being
• 45:34
  Speaker 1: held a This is what your your tax money is
• 45:40
  Speaker 1: being fed on, and this is how your rights are
• 45:43
  Speaker 1: being protected by the Trump administration. I'm sure you go
• 45:48
  Speaker 1: to bed every night feeling really good about it. Talk
• 45:52
  Speaker 1: about protecting rights. The Traumedom station is wrench rat setting
• 45:59
  Speaker 1: up it's threats on the cartels and on Venezuela and
• 46:05
  Speaker 1: on the drug smuggling into the United States through the
• 46:11
  Speaker 1: Southern Caribbean. Indeed, the Defense, the Department of Defense has
• 46:16
  Speaker 1: now deployed ten F thirty five lightnings lightning twos to
• 46:22
  Speaker 1: an field in Puerto Rico, my home state, to combat
• 46:27
  Speaker 1: to cartels. We've now got Let me just do this
• 46:31
  Speaker 1: before I lose my audio. Let me just switch mics
• 46:34
  Speaker 1: before that happens.
• 46:38
  Speaker 3: Let me just turn this one on, check this one off,
• 46:44
  Speaker 3: all right, put this in the box to be charged,
• 46:49
  Speaker 3: and close the box and we'll all set cool.
• 46:52
  Speaker 1: I caught it before it shut down. That's good. We
• 46:57
  Speaker 1: now have F thirty five's in Puerto Rico. I feel
• 46:59
  Speaker 1: a lot safer. And this is part of this build
• 47:03
  Speaker 1: up off the coast of Venezuela and the Southern Caribbean.
• 47:06
  Speaker 1: The war on drugs. The lessons from fifty years on
• 47:10
  Speaker 1: the war drugs is let's double up. Let's do more
• 47:14
  Speaker 1: of the same. Let's do more aggressively the same stuff
• 47:19
  Speaker 1: that hasn't worked for fifty years. And we need stealth jets.
• 47:25
  Speaker 4: Because because because I don't know, maybe they are afraid
• 47:31
  Speaker 4: that Venezuela has some air defense systems that you know,
• 47:36
  Speaker 4: could take out our jets.
• 47:37
  Speaker 1: I doubt it. They do have F sixteens, which we
• 47:40
  Speaker 1: sold them a long time ago. And there are two
• 47:42
  Speaker 1: of the F sixteens, you know, flew very low above
• 47:46
  Speaker 1: one of our ships earlier today and you know, kind
• 47:52
  Speaker 1: of a threatening manner. Trump has now said the next
• 47:54
  Speaker 1: time they do that, they'll be shot down. So yeah,
• 47:57
  Speaker 1: Trump is all in on threatening at least Venezuela, and
• 48:03
  Speaker 1: on bringing the war on drugs to the South Caribbean
• 48:06
  Speaker 1: and really showing his MAGA mega supporters muscle toughness. I mean,
• 48:13
  Speaker 1: it's a Department of War now, not the Defense Department.
• 48:16
  Speaker 1: Don't don't even try Defense department stuff. It's the Department
• 48:20
  Speaker 1: of War. Into war we go, to war, we go.
• 48:29
  Speaker 1: They are now gonna use overwhelming force against narco terrorists.
• 48:36
  Speaker 1: Let's see how that works. You know, it is interesting
• 48:45
  Speaker 1: to know whether Venezuela has Russian anti truck anti aircraft themselves,
• 48:50
  Speaker 1: and that's why they're deploying F thirty five's and they're
• 48:52
  Speaker 1: gonna take this fight into Venezuela. All right, that is
• 48:57
  Speaker 1: the news for this fight. AM about a fifth and
• 49:02
  Speaker 1: thank you all for being here. Let we will now
• 49:06
  Speaker 1: go to our super chat and I will remind you
• 49:11
  Speaker 1: to ask questions. You guys, get to the swimmin. The
• 49:14
  Speaker 1: rest of the show will be dictated by how many
• 49:17
  Speaker 1: questions and the kind of questions you ask. I answer
• 49:20
  Speaker 1: all questions, I read all comments that are presented as
• 49:23
  Speaker 1: super chats. It's a great way to support the show
• 49:26
  Speaker 1: and it's also a great way to ask a question. Participate.
• 49:42
  Speaker 1: Let's see what I want A few things. I want
• 49:44
  Speaker 1: to remind you to like the show before you leave,
• 49:47
  Speaker 1: like it. Press that like button. It really helps the algorithm.
• 49:50
  Speaker 1: I'd like you to consider becoming a monthly supporter of
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• 49:55
  Speaker 1: up as a monthly supporter. That is really the optimal
• 49:59
  Speaker 1: way to support the show. And if you don't want
• 50:03
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• 50:20
  Speaker 1: Let me add that we do have a first hour goal,
• 50:23
  Speaker 1: which is two hundred and fifty dollars. We are seventy
• 50:26
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• 50:31
  Speaker 1: will step up in support of the show so we
• 50:33
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  Speaker 1: two hundred and fifty dollars fundraising goal. So total for
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  Speaker 1: which I think you will find incredibly insightive, insightful, and educational.
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• 51:25
  Speaker 1: there's going to be a second RANS Day Objective's Conference
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  Speaker 1: in Florida, Southern Florida, Fort Mayas at the end of January,
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• 51:34
  Speaker 1: remember February second is rans day. It's her birthday. And
• 51:39
  Speaker 1: if you sign up to this conference where I will
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  Speaker 1: sign up now. It's three hundred and seventy seven dollars.
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• 52:01
  Speaker 1: You're gonna get le says from Harry Binswanger, Ellen Kanna,
• 52:05
  Speaker 1: Shashana Milgram, Gen Maroney, Peter Schwartz, Don Watkins, and me
• 52:10
  Speaker 1: including a panel with Peter Harry me talking about what
• 52:15
  Speaker 1: would life be in a Las Fair society? What would
• 52:18
  Speaker 1: life be like? What would life be like? I'm kind
• 52:22
  Speaker 1: of interested to see kind of the the similarities and
• 52:27
  Speaker 1: maybe differences or maybe differences in emphasis that the three
• 52:30
  Speaker 1: of us bring to that panel. I'm curious to see
• 52:35
  Speaker 1: what comes out of it in terms of kind of
• 52:37
  Speaker 1: I think different emphasis. I don't think they'll be disagreement,
• 52:40
  Speaker 1: but there'll be different things that we emphasize, and that'll
• 52:42
  Speaker 1: be fun and interesting. So you can sign up rands
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  Speaker 1: day rands rand with an s day con all one
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  Speaker 1: dot com. All right, And of course the Irate Institute
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  Speaker 1: is a sponsor of the show. On the Iraan Institute
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  Speaker 1: is announcing the launch of iron Land Institute Live, which
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  Speaker 1: are courses that you can take live or taped up
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  Speaker 1: You just have to sign up, register, pay, and you
• 53:35
  Speaker 1: can take the courses that the institute is offering. You
• 53:41
  Speaker 1: can take a course on the philosophy of objectivism where
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  Speaker 1: Uncle Gati among others will be talking going into depth
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  Speaker 1: about the philosophy of objectives. I think OPAH is the
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  Speaker 1: textbook for that book for that course, and incredible value.
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  Speaker 1: You will just get a much much deeper understanding of
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  Speaker 1: you'll get to think about it. Getting being in a
• 54:09
  Speaker 1: classroom setting and studying objectivism is such a huge value.
• 54:13
  Speaker 1: I mean I did that with Harry Mins. Want to
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  Speaker 1: lend a peacock, Peter shorts and you can do that
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  Speaker 1: by deferring it. By yeah, mainly by deferring it. But
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  Speaker 1: the defer makes a big difference, makes a big difference.
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  Speaker 1: So if you're about us sell a bunch of stock
• 55:16
  Speaker 1: that's highly appreciated, or intend to sell a business sometime soon,
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  Speaker 1: or bitcoin or anything like that and you're going to
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  Speaker 1: have a big hefty tax bill, talk to these guys.
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  Speaker 1: this product. I think even if you're not, this is
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  Speaker 1: not relevant for you. I think you'll find the interview
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  Speaker 1: interesting and educational. All right, I think we've done that coverage.
• 55:48
  Speaker 1: You'll get to ask questions. We did well, but we're
• 55:51
  Speaker 1: still like forty two dollars short of our two hundred
• 55:53
  Speaker 1: and fifty dollars goal, and we are four minutes four
• 55:58
  Speaker 1: minutes to target. Four minutes. It's to the first hour
• 56:02
  Speaker 1: being over four minutes to midnight here in Florence. All right,
• 56:09
  Speaker 1: let's jump in with our super chats. We've got Michael
• 56:15
  Speaker 1: starting herself with fifty dollars. Thank you, Michael, Michael keeping
• 56:19
  Speaker 1: him keeping pace to make sure he is the number
• 56:24
  Speaker 1: one super Chat super Chat champion month after month. Michael says,
• 56:30
  Speaker 1: it's being passive aggressive, a sign of moral cowardice. Instead
• 56:34
  Speaker 1: of explicity stating what you want. You're attempting to get
• 56:37
  Speaker 1: people to act in a certain way by implementing psychological
• 56:40
  Speaker 1: pressure through comments that make people uncomfortable. Yeah, I think
• 56:46
  Speaker 1: it is. It's also a sign of all kinds of
• 56:48
  Speaker 1: psychological problems that people have. It's I think the lack
• 56:55
  Speaker 1: of moral courage or courage generally is I think associated
• 57:00
  Speaker 1: with lack of self esteem and just a confusion about
• 57:06
  Speaker 1: what it means and to be assertive and to ask
• 57:13
  Speaker 1: for what you actually want. People find it very difficult.
• 57:15
  Speaker 1: It's also consequence ultimately of altruism. Again, altruism teaches us
• 57:21
  Speaker 1: not to be selfish, not to be self interested. Part
• 57:24
  Speaker 1: of being self interested is to tell people what you expect,
• 57:27
  Speaker 1: what you want, and that is that schooz us up psychologically.
• 57:34
  Speaker 1: We have a small claim that says, don't don't push
• 57:39
  Speaker 1: for what you want, don't ask for what you want,
• 57:42
  Speaker 1: don't be clear about what you want. That's selfish. You
• 57:45
  Speaker 1: don't want to look selfish, you don't want to be selfish.
• 57:47
  Speaker 1: On the other hand, you want to get the stuff done.
• 57:49
  Speaker 1: You want the stuff that you want, So you are
• 57:53
  Speaker 1: pressure altruism, but you can't actually be self interested in
• 57:58
  Speaker 1: saying it, so you act passive aggressively in the hope
• 58:02
  Speaker 1: that you get what you what you want. So altruism
• 58:07
  Speaker 1: is the cause of so many of these psychological issues.
• 58:10
  Speaker 1: It's the cause of so much, and it's it's definitely
• 58:15
  Speaker 1: a cause of this kind of cowardice, this this kind
• 58:18
  Speaker 1: of hedging, and this kind of you know, passive aggressive behavior.
• 58:24
  Speaker 1: So it's a yeah, it's it's Andrew says, the defensive mentality.
• 58:31
  Speaker 1: It's defensive in the sense that it's, you know again
• 58:37
  Speaker 1: that you're not actually going in the offense, actually saying
• 58:42
  Speaker 1: what do you think? It's it's protective. It's I didn't
• 58:45
  Speaker 1: say that, I didn't act selfishly. I didn't do it.
• 58:49
  Speaker 1: Andy End, you're doing something really bad, which is being
• 58:53
  Speaker 1: passive aggressive, driven by I mean, ultimately, this is I
• 58:59
  Speaker 1: think so much of this is driven by the extent
• 59:03
  Speaker 1: to which altruism is not culcaded into our thinking from
• 59:07
  Speaker 1: a very young age. All Right, let me thanks some stickers, Gail,
• 59:12
  Speaker 1: thank you, John, thank you, Geffree, thank you, Roland, thank you.
• 59:16
  Speaker 1: We need more guys, thirty four more dollars in the
• 59:20
  Speaker 1: next minute. Unlikely. Alright, let's see any other stickers, any
• 59:28
  Speaker 1: other stickers. No more stickers, okay, I thank to all
• 59:31
  Speaker 1: the sticker people. Thank you guys for that. If you
• 59:34
  Speaker 1: if you can support us now, that will be great.
• 59:38
  Speaker 1: If we can get that number up, that would be fantastic.
• 59:41
  Speaker 1: All right, Vikrum says, I'm planning my first ever trip
• 59:46
  Speaker 1: to South America. Which cities I must do? When I
• 59:49
  Speaker 1: talk about Rio, friends give dire warnings of security. If
• 59:54
  Speaker 1: it's so bad that I should stay away from Rio
• 59:56
  Speaker 1: on my trip, No, what, I'm sixty one and South
• 59:59
  Speaker 1: America is a very very long way from home. Uh. No,
• 1:00:02
  Speaker 1: Rio is not that bad. It's bad. I mean, you
• 1:00:04
  Speaker 1: have to be careful, You have to have open eyes.
• 1:00:07
  Speaker 1: You have to keep your wallets in your front pocket.
• 1:00:10
  Speaker 1: You don't want to be carrying, waving around your iPhone
• 1:00:12
  Speaker 1: in your hands. Some motorcyclist will grab it from you.
• 1:00:16
  Speaker 1: You want to you want to just do. Your backpack
• 1:00:19
  Speaker 1: should be in the front, not in the back. You
• 1:00:21
  Speaker 1: just do. You want to do kind of basic protective
• 1:00:25
  Speaker 1: things that you know a lot of people do anyway
• 1:00:30
  Speaker 1: in big cities, but in Rio you want to do
• 1:00:32
  Speaker 1: in spades. Certainly you do not want to walk into
• 1:00:35
  Speaker 1: the favelas, but you'll know where they are. They easily found,
• 1:00:39
  Speaker 1: they're easily there, or they're very close. They're easily there,
• 1:00:42
  Speaker 1: and you certainly don't want to go there at night.
• 1:00:44
  Speaker 1: You might not want to go there during the day.
• 1:00:46
  Speaker 1: You don't want to go there during the day. You
• 1:00:48
  Speaker 1: just don't want to go into the favelas unless you
• 1:00:50
  Speaker 1: have a guide. I've done that. You know, taking a
• 1:00:52
  Speaker 1: guide and gone in. But no, you cannot miss real
• 1:00:58
  Speaker 1: It is the most beautiful city in the world. And
• 1:01:00
  Speaker 1: you just can't miss that. You can't miss the geographic
• 1:01:03
  Speaker 1: Now you have to come. You have to hire a driver.
• 1:01:06
  Speaker 1: Don't rent a car. Hire a driver than not expensive.
• 1:01:10
  Speaker 1: And the driver guides. Hire a driver guides and they
• 1:01:15
  Speaker 1: will take you to all the and tell them I
• 1:01:17
  Speaker 1: want to see all the sites, the best views in
• 1:01:21
  Speaker 1: Real and they will take you. And you've got to
• 1:01:24
  Speaker 1: just spend a day doing that, spend a couple of days,
• 1:01:26
  Speaker 1: three days in Real. So Rio is a must. I
• 1:01:28
  Speaker 1: think it's a must. I think it's the only city
• 1:01:33
  Speaker 1: in Brazil. It's a must for tourists. I mean, I
• 1:01:37
  Speaker 1: think being in Buenos Airius right now is super interesting.
• 1:01:41
  Speaker 1: Santiago in Chile is a beautiful city and an interesting place.
• 1:01:46
  Speaker 1: So I'd say those are the three cities. Santiago is
• 1:01:49
  Speaker 1: the safest, although that's changing more and more gang activity
• 1:01:53
  Speaker 1: in Chile unfortunately. Buenos Ayrus is very safe, is safe,
• 1:01:58
  Speaker 1: but again it's considered a safe city. But somebody I
• 1:02:02
  Speaker 1: know had the iPhone just snatched out of their hand
• 1:02:06
  Speaker 1: in the middle of the street and the guy jumped
• 1:02:07
  Speaker 1: on the motorcycle was gone, so you know, you just
• 1:02:13
  Speaker 1: have to be careful. But yeah, don't I don't see
• 1:02:16
  Speaker 1: any problem going to Rio, and Rio is such a
• 1:02:19
  Speaker 1: magnificent place. I would definitely go. So Rio, Buenos AIREUS
• 1:02:23
  Speaker 1: Santiago would be a great three places. Now if you
• 1:02:28
  Speaker 1: want to travel around, there's lots to see. There's there's
• 1:02:32
  Speaker 1: Ego Zoo Falls where you can see from Brazil o
• 1:02:35
  Speaker 1: from Argentina. There is there is the what do you
• 1:02:41
  Speaker 1: call it Patagonia, which you can Patagonia which is the
• 1:02:45
  Speaker 1: south of Argentina but also the south of Chile and
• 1:02:49
  Speaker 1: magnificent mountains and beautiful, beautiful scenery. There's Bariloche in Argentina
• 1:02:55
  Speaker 1: which is an area of lakes and and again beautiful scenery.
• 1:03:00
  Speaker 1: You go to Mendoza, which is wine country in Argentina,
• 1:03:04
  Speaker 1: and you can go to Amazon, which is a pretty
• 1:03:08
  Speaker 1: amazing to experience. You could go walk in the glacier
• 1:03:11
  Speaker 1: in Calafate. Calafata is the place you fly into, so
• 1:03:14
  Speaker 1: there's the glacier you can walk onto. Again that's in Argentina.
• 1:03:18
  Speaker 1: So I'd say if you do Brazil, Argentina, Chile, and
• 1:03:22
  Speaker 1: you really tour the places, not just cities, but the places.
• 1:03:26
  Speaker 1: Then you're talking about a couple of weeks. But until
• 1:03:29
  Speaker 1: you asked about cities, and I'd say those three cities
• 1:03:32
  Speaker 1: of us do well. I mean, it depends what you're
• 1:03:36
  Speaker 1: giving up and out to do. I put Rillo at
• 1:03:40
  Speaker 1: the top. Andrew, are you surprised that American businessmen are
• 1:03:47
  Speaker 1: kneeling to politicians in the year twenty twenty five or
• 1:03:49
  Speaker 1: doesn't make sense given the philosophy in the culture. I
• 1:03:53
  Speaker 1: mean it makes sense. It hurts, it's tragic, it's sad,
• 1:03:56
  Speaker 1: it's depressing, but it makes sense. I mean, think about
• 1:04:00
  Speaker 1: the beating downs these businessmen have gotten in Congress. And
• 1:04:05
  Speaker 1: there's a sense in which while Trump's insanity on talis
• 1:04:09
  Speaker 1: and immigration is there and other things, from a business perspective,
• 1:04:13
  Speaker 1: he's pretty good to them. And certainly taxes called the
• 1:04:16
  Speaker 1: taxes were cut, so that's been really, really good. So
• 1:04:22
  Speaker 1: I can see why they like him, particularly given an alternative.
• 1:04:26
  Speaker 1: But they've been beaten down by Congress. They've groveled before Congress.
• 1:04:29
  Speaker 1: They've been forced to play that role already with Congress,
• 1:04:33
  Speaker 1: and now they're doing it with Trump. It's just sickening
• 1:04:35
  Speaker 1: that Trump would want it. It's sickening that this is
• 1:04:38
  Speaker 1: on display like this, and it's sickening that they're doing
• 1:04:42
  Speaker 1: it even though it's completely expected. It's not surprising at all.
• 1:04:52
  Speaker 1: Andrews says, your comments about intensification of the drug wars
• 1:04:57
  Speaker 1: spark this question. Why does the Why does the violating
• 1:05:00
  Speaker 1: of a right beget further violations of rights? Why does
• 1:05:08
  Speaker 1: the violating of a right beget further violation of rights?
• 1:05:12
  Speaker 1: I think mainly because once you violated the principle, then
• 1:05:17
  Speaker 1: the principle is gone. It doesn't mean anything, So why
• 1:05:20
  Speaker 1: not violate more rights? So you know, once I violated
• 1:05:26
  Speaker 1: your property rights, why would I uphold your right to
• 1:05:29
  Speaker 1: free speech? And if I uphold if I violate your
• 1:05:34
  Speaker 1: property rights in one realm, I don't know. Years ago
• 1:05:37
  Speaker 1: we thought it was unbelievable. I mean, there was an
• 1:05:40
  Speaker 1: outcry against Obama in a sense taking a position in
• 1:05:49
  Speaker 1: the American government, taking a position in general motives. There
• 1:05:54
  Speaker 1: was an ocraw about it. And now nobody cares that
• 1:05:57
  Speaker 1: Trump is doing the same thing with Intelligent with with
• 1:06:00
  Speaker 1: a number of other to other companies, with your steal
• 1:06:05
  Speaker 1: and with the Rare Earth Materials company. It's like this
• 1:06:10
  Speaker 1: is once once you can't. Once the principle has been violated,
• 1:06:18
  Speaker 1: there's no there's nothing to stand on to object to.
• 1:06:22
  Speaker 1: What's coming next? Mathias? How you ron just want to
• 1:06:28
  Speaker 1: say I see you as an equal human being. That's good.
• 1:06:32
  Speaker 1: I also want to welcome your enemies. Why are we
• 1:06:34
  Speaker 1: welcoming my enemies. I'm not sure why you're welcoming my enemies.
• 1:06:40
  Speaker 1: I just don't get it. But thank you, thank you
• 1:06:41
  Speaker 1: for the support, and thank you for for the statement. James,
• 1:06:47
  Speaker 1: have you ever explored England outside of London? It's so
• 1:06:50
  Speaker 1: dumpy and depressing, like everyone just lives on welfare and
• 1:06:53
  Speaker 1: does nothing with their lives. I mean, I don't know
• 1:07:00
  Speaker 1: what to say about that. I mean, I'm being outside
• 1:07:02
  Speaker 1: of London, I mean to I've spoken at universities all
• 1:07:06
  Speaker 1: across England. I've spoken I just was in York, I
• 1:07:11
  Speaker 1: mean to Bristol, I've been to kent To you know,
• 1:07:14
  Speaker 1: I mean everywhere, and I didn't get that impression. I mean,
• 1:07:19
  Speaker 1: maybe that's true. I'm not saying it's not true, but
• 1:07:21
  Speaker 1: I did not get an impression. My impression generally is
• 1:07:23
  Speaker 1: not dumpy and depressing. I mean England is depressing because
• 1:07:28
  Speaker 1: it's gray all the time. But not. I mean, a
• 1:07:32
  Speaker 1: lot of these universities are very pretty beautiful. The students
• 1:07:34
  Speaker 1: seems engaged and and and they're the There seems to
• 1:07:39
  Speaker 1: be some vitality there. So no, I have not found it.
• 1:07:43
  Speaker 1: I'm sure there are areas outside of London, indeed areas
• 1:07:47
  Speaker 1: in London that are dumpy and depressing and people doing
• 1:07:51
  Speaker 1: nothing with their lives. But I haven't found that in
• 1:07:53
  Speaker 1: my travels around. But granted I usually go into a
• 1:07:57
  Speaker 1: city or town, go to the university of talk and
• 1:08:00
  Speaker 1: get out of there, so I don't have a lot
• 1:08:03
  Speaker 1: of experience, right, James. The second question is this, the
• 1:08:08
  Speaker 1: modern mixed economy model have a few cities where all
• 1:08:12
  Speaker 1: the wealth and the innovation occur and everyone else in
• 1:08:14
  Speaker 1: the country lives on benefits. Well, again, I don't think
• 1:08:18
  Speaker 1: that's quite right. You've got your farmers who are well
• 1:08:21
  Speaker 1: some of the many of them are being subsidized in
• 1:08:23
  Speaker 1: all of them being protected by tariffs, particularly in the UK.
• 1:08:28
  Speaker 1: But yes, I think the modern mixed economy basically separates
• 1:08:32
  Speaker 1: out the creators and the and the and the loot
• 1:08:36
  Speaker 1: and the mooches, right, the builders and the and the
• 1:08:38
  Speaker 1: mooches and uh in a economy like London's, which is
• 1:08:44
  Speaker 1: a bit of the UK, which is primarily based on services,
• 1:08:49
  Speaker 1: where services of the growth industries tech, tech and finance,
• 1:08:53
  Speaker 1: those all based in London. That's where the production happens,
• 1:08:56
  Speaker 1: that's where the wealth gets created, and then much of
• 1:09:00
  Speaker 1: the rest of the country mooches off of that. And
• 1:09:03
  Speaker 1: because the mixed economy does not provide for the economic
• 1:09:07
  Speaker 1: growth and the job creation that a capitalist economy would,
• 1:09:13
  Speaker 1: they're kind of stuck. They're kind of stuck. And there's
• 1:09:15
  Speaker 1: seemingly a justification. It's a circle, right. The welfare state
• 1:09:22
  Speaker 1: retards the economy. The retarded economy creates more people who
• 1:09:26
  Speaker 1: demand welfare, so the welfare state is expanded, where actually
• 1:09:31
  Speaker 1: shrinking the welfare state or eliminating it would actually bring jobs, wealth,
• 1:09:37
  Speaker 1: prosperity to those people who are living on welfare now.
• 1:09:42
  Speaker 1: But that is the mixed economy, that's the welfare state.
• 1:09:45
  Speaker 1: The destructive nature of the welfare state. It destroys lives,
• 1:09:49
  Speaker 1: the lives of the people who are being exploited by
• 1:09:55
  Speaker 1: having their money taken away to be distributed, and the
• 1:09:59
  Speaker 1: people receiving the money who are then told don't worry
• 1:10:04
  Speaker 1: about a job don't worry about a life here. The
• 1:10:06
  Speaker 1: government's taking care of you. You know, we all know
• 1:10:08
  Speaker 1: you're worthless. We're giving you this check just to keep
• 1:10:12
  Speaker 1: you around, to make ourselves feel good. Whereas a capitalist
• 1:10:17
  Speaker 1: economy basically sends the message to people your competent, you're able,
• 1:10:23
  Speaker 1: we have the full trust that you can take care
• 1:10:26
  Speaker 1: of yourself. Go do it. I mean capitalism is emboldening,
• 1:10:33
  Speaker 1: is emboldening of the individual. Clark. All government attempts to
• 1:10:40
  Speaker 1: redistribute wealth and income, smother productive incentives and lead towards
• 1:10:45
  Speaker 1: general impoverishment. Yeah, absolutely absolutely, we're seeing that in the
• 1:10:51
  Speaker 1: more advanced welfare states. You see more of that. The
• 1:10:54
  Speaker 1: economy is a grinding to a holt haperca about you
• 1:11:00
  Speaker 1: really believe that a guy making fifty k a year
• 1:11:03
  Speaker 1: can be as happy as the guy making five hundred
• 1:11:05
  Speaker 1: k a year. Once you're used to making your money,
• 1:11:09
  Speaker 1: you can't be happy going back, at least that's my experience.
• 1:11:15
  Speaker 1: First of all, going back is different than the scenario
• 1:11:19
  Speaker 1: your posifing, So am I significantly happier making a half
• 1:11:25
  Speaker 1: a million dollars a year than I was when I
• 1:11:27
  Speaker 1: may fifty thousand dollars a year I don't know. I
• 1:11:30
  Speaker 1: mean it was a different phase in my life. Different
• 1:11:33
  Speaker 1: things are going on, different values were being achieved. I
• 1:11:38
  Speaker 1: can't say I'm dramatically happy, Enow because I have more money.
• 1:11:42
  Speaker 1: I mean, I wouldn't give it up. If I gave
• 1:11:46
  Speaker 1: it up, I would be unhappy. That's true because my
• 1:11:50
  Speaker 1: values has changed. My values are much more aligned with
• 1:11:52
  Speaker 1: a half a million dollar salary than worth a fifty
• 1:11:55
  Speaker 1: thousand dollars. But I don't think. I know a lot
• 1:12:08
  Speaker 1: of people making half a million dollars were unhappy, and
• 1:12:11
  Speaker 1: I know people who make fifty thousand were happy. So
• 1:12:15
  Speaker 1: the money is not what's going to make you happy.
• 1:12:18
  Speaker 1: But look, there's no question having more money, you know,
• 1:12:23
  Speaker 1: enhances your happiness, but it's not a few requisite for happiness,
• 1:12:29
  Speaker 1: and en answers it. It makes it. The reason I
• 1:12:32
  Speaker 1: wouldn't want to give up the money today is that
• 1:12:35
  Speaker 1: I can do things that I couldn't do when I
• 1:12:38
  Speaker 1: was making fifty thousand. And when I was making fifty thousand,
• 1:12:42
  Speaker 1: I guess I didn't care, but now I can. Now
• 1:12:45
  Speaker 1: I want to do those things right. So more money
• 1:12:52
  Speaker 1: is better, no question, more money is better, but it's
• 1:12:56
  Speaker 1: not the determining fact that it's not that much better now.
• 1:13:02
  Speaker 1: I want a few money. I think a few money
• 1:13:04
  Speaker 1: would allow me to be a little happier because it
• 1:13:08
  Speaker 1: would take certain worries off the plate. Wouldn't have to
• 1:13:11
  Speaker 1: think about money at all. That's what a few money means.
• 1:13:15
  Speaker 1: But I'm never gonna have a few money. Does that
• 1:13:17
  Speaker 1: make I'm never gonna be happy now. I'd have less
• 1:13:23
  Speaker 1: stress if I had a few money. But would it
• 1:13:26
  Speaker 1: be that much happier? Eh, marginal, marginal, Maybe it wouldn't
• 1:13:33
  Speaker 1: be doing shows at midnight andrew more on the effects
• 1:13:39
  Speaker 1: of breaking principles. Rand was asked what if we had
• 1:13:43
  Speaker 1: lash except for a small amount of welfare for the needy,
• 1:13:46
  Speaker 1: and she basically said, we'd end up in a mess
• 1:13:49
  Speaker 1: of a mixed economy, just as we have now. Yeah,
• 1:13:51
  Speaker 1: and that's exactly I mean, that's exactly how the mess
• 1:13:54
  Speaker 1: we're in right now started. We had less affair except
• 1:13:58
  Speaker 1: for some regulations of a little bit of regulations of
• 1:14:00
  Speaker 1: the railroads and the banks. So it was an easy
• 1:14:04
  Speaker 1: step to regulate big business, not small business. We don't
• 1:14:07
  Speaker 1: want to regulate small business, only big business. With the
• 1:14:11
  Speaker 1: Showman Act, and then we regulate small let medium size businesses,
• 1:14:15
  Speaker 1: and then we regulate employments, and then we regulate everything.
• 1:14:18
  Speaker 1: And then we start out with a very small welfare state,
• 1:14:20
  Speaker 1: some welfare at the state level, almost no welfare at all,
• 1:14:25
  Speaker 1: and then you get the New Deal with a little
• 1:14:27
  Speaker 1: bit more welfare like so security, and then you get
• 1:14:29
  Speaker 1: the Great Society with a lot more welfare, and then
• 1:14:33
  Speaker 1: you get today with a lot more welfare. Yeah, it's
• 1:14:36
  Speaker 1: always that way. Once you give up on the fight
• 1:14:40
  Speaker 1: on the principle, then there's no end to how much
• 1:14:45
  Speaker 1: that principle would be violated. Andrew, it doesn't require superhuman
• 1:14:51
  Speaker 1: mental ability to be rational, That's absolutely right. It doesn't
• 1:14:55
  Speaker 1: require Yeah, everybody, everybody's human who has the capacity to
• 1:15:01
  Speaker 1: be human, capacity to take care of themselves. So suddenly
• 1:15:04
  Speaker 1: suddenly mental handicaps, it's a problem. But if you can
• 1:15:11
  Speaker 1: take care of yourself, if you can make a living,
• 1:15:13
  Speaker 1: you can live, then you have the IQ to be rational.
• 1:15:18
  Speaker 1: You have the mental capacity to be rational, the brain
• 1:15:22
  Speaker 1: capacity or whatever it is. Liam says, what motivated helped
• 1:15:26
  Speaker 1: me to write dim What was he observing in the
• 1:15:28
  Speaker 1: culture to make him want to put in writing these
• 1:15:30
  Speaker 1: predictions When things were looking pretty good fifteen years ago,
• 1:15:34
  Speaker 1: when he began writing. I don't think Lennard ever thought
• 1:15:38
  Speaker 1: things were looking good. I don't think any of us
• 1:15:39
  Speaker 1: really thought things were looking good fifteen years ago. There's
• 1:15:42
  Speaker 1: nothing about the culture that looked good fifteen years ago.
• 1:15:46
  Speaker 1: I mean, fifteen years ago you had you had the
• 1:15:50
  Speaker 1: failed war on Terror, you had Iraq, you had Afghanistan,
• 1:15:54
  Speaker 1: you had a financial crisis. I mean it's a myth
• 1:15:57
  Speaker 1: that fifteen years ago or twenty years ago things were wonderful.
• 1:16:00
  Speaker 1: They want, they were hubbable, and Leonard knew that, and
• 1:16:02
  Speaker 1: I knew that. We all knew that. Nobody was I
• 1:16:04
  Speaker 1: mean the Tea Party. We were hopeful, but there was
• 1:16:07
  Speaker 1: no I mean, Lenin didn't really buy into the Tea
• 1:16:10
  Speaker 1: Party as an agent for real change and sustain change
• 1:16:14
  Speaker 1: over time because they were so anti intellectual. So, but
• 1:16:20
  Speaker 1: what motivated ap was not to put down these predictions,
• 1:16:24
  Speaker 1: because the predictions didn't He didn't start with predictions. What
• 1:16:28
  Speaker 1: motivated Leonard was his study of induction of pistemology and
• 1:16:35
  Speaker 1: his study of history. He was actually working on history,
• 1:16:39
  Speaker 1: and what he observed was this pattern, the pattern. So
• 1:16:46
  Speaker 1: his interest in writing the book was not just about
• 1:16:48
  Speaker 1: the prediction. His history in writing the book was to
• 1:16:51
  Speaker 1: educate us about what he viewed as a patent that
• 1:16:54
  Speaker 1: related a culture's attitude towards integration epistemological point, with its
• 1:17:07
  Speaker 1: mode of operation, and with its future, with its future.
• 1:17:16
  Speaker 1: And he was just he was interested in that. He
• 1:17:18
  Speaker 1: was interested in this people's attitudes, impless attitude too, of
• 1:17:24
  Speaker 1: pistemology were shaping the very nature of their culture. And
• 1:17:30
  Speaker 1: then what you could see was a certain pattern to
• 1:17:33
  Speaker 1: shape the future. That is, a culture that had a
• 1:17:37
  Speaker 1: particular view of integration led to a culture that had
• 1:17:41
  Speaker 1: a different view of integration. And you know, there was
• 1:17:45
  Speaker 1: this evolution and it led him to come up with this,
• 1:17:49
  Speaker 1: which I think is that is the real breakthrough, is
• 1:17:51
  Speaker 1: that the idea of these three modes, this d i M. Disintegration, integration,
• 1:18:00
  Speaker 1: integration and misintegration and viewing a culture in these terms,
• 1:18:05
  Speaker 1: viewing art in these terms, viewing the future and the
• 1:18:10
  Speaker 1: past in these terms, that is what interested in. I
• 1:18:13
  Speaker 1: don't think it was the predictions that motivated him. But no,
• 1:18:16
  Speaker 1: nothing about the culture fifteen years ago suggested the things
• 1:18:20
  Speaker 1: were going to be great at all. Neil says, what
• 1:18:26
  Speaker 1: would you do in that situation? How would you kneel
• 1:18:29
  Speaker 1: deal with Trump as a CEO of a company, knowing
• 1:18:32
  Speaker 1: he would want to associate with you. You know, it's
• 1:18:39
  Speaker 1: really difficult to say. It would depend on the health
• 1:18:42
  Speaker 1: of the company. It would depend on its importance, it
• 1:18:44
  Speaker 1: would depend on it. It depends on the extent to
• 1:18:50
  Speaker 1: which it was importing, exporting, what it was exactly doing.
• 1:18:55
  Speaker 1: You you would It depends on me how long I
• 1:18:58
  Speaker 1: was CEO, and and who are the shareholders and what
• 1:19:01
  Speaker 1: the shoholders wanted. I might have to just resign. But
• 1:19:06
  Speaker 1: what I wouldn't do is what they did. I wouldn't
• 1:19:10
  Speaker 1: do that. I would rather resign. Halper Campbell could air
• 1:19:19
  Speaker 1: I produce a movie or documentary about objectivism. Sure, who
• 1:19:24
  Speaker 1: to watch it? I mean, I've been involved in several documentaries.
• 1:19:27
  Speaker 1: There's documentary years ago about Althla Shrug, which was pretty good.
• 1:19:30
  Speaker 1: There's a documentary basically around my work on finance, about
• 1:19:38
  Speaker 1: the financial crisis and about you know, why everybody hates financiers,
• 1:19:44
  Speaker 1: and it's a good documentary with some really valuable content.
• 1:19:47
  Speaker 1: Nobody ever saw it. I don't see I don't see it.
• 1:19:55
  Speaker 1: The story is really how do you get something seen
• 1:19:58
  Speaker 1: and not made and then you need the skill and
• 1:20:00
  Speaker 1: the challenge to make. There was a documentary that was
• 1:20:04
  Speaker 1: nominated for Oscar on Immans, but again not many people
• 1:20:11
  Speaker 1: saw it, so it's always under consideration. I don't know
• 1:20:17
  Speaker 1: what a movie about objectivism is a documentary, I get,
• 1:20:21
  Speaker 1: I don't know what a movie you would be Matthias.
• 1:20:27
  Speaker 1: My earlier comment was about Cold Place singer who welcomed
• 1:20:31
  Speaker 1: Palestinians in the crowd after Israeli fans invited on stage
• 1:20:36
  Speaker 1: were booed okay, so you welcome the enemies. I see, okay, Andrew.
• 1:20:47
  Speaker 1: This makes a Christian altruistic society very uncomfortable. But isn't
• 1:20:52
  Speaker 1: the truth that something Sometimes the strong has to use
• 1:20:56
  Speaker 1: force against the weak if it's in retaliation to aggression. Yes,
• 1:21:00
  Speaker 1: I mean, but look, the state is always strong the weak.
• 1:21:04
  Speaker 1: The criminal is always weak, and we use force against
• 1:21:08
  Speaker 1: criminals all the time. So it's not that much of
• 1:21:13
  Speaker 1: a reach in a sense that the whole the whole
• 1:21:19
  Speaker 1: criminal justice system is based on that the criminal is weak.
• 1:21:25
  Speaker 1: The state is strong, has money, resources, have weapons. So
• 1:21:30
  Speaker 1: but that's the only way to enforce justice sometimes is
• 1:21:34
  Speaker 1: to is to use strength in order to take out
• 1:21:37
  Speaker 1: the take out evil. Andrew and note to Hegel, if
• 1:21:44
  Speaker 1: one needs to know everything in order to know something,
• 1:21:46
  Speaker 1: then one knows nothing. Yes, that's right, we know nothing
• 1:21:52
  Speaker 1: because we cannot know everything. Marius, is there any hope
• 1:21:57
  Speaker 1: left for Taiwan? Do you think the world is ready
• 1:22:01
  Speaker 1: to have TSMC in the hands of the CCP? I
• 1:22:05
  Speaker 1: don't you know. I don't know. I think the over
• 1:22:09
  Speaker 1: Taiwan is that Taiwan can defend itself, and maybe maybe
• 1:22:14
  Speaker 1: it has allies will come to its supports. But I
• 1:22:19
  Speaker 1: do think there's hope for Taiwan. Also, the fact that China,
• 1:22:23
  Speaker 1: in spite of everything, is fairly weak. It's got this
• 1:22:27
  Speaker 1: massive army with sophisticated weapons. Well, we don't know that
• 1:22:30
  Speaker 1: those weapons will work. We don't know that they can
• 1:22:32
  Speaker 1: pull off an invasion of Taiwan. I mean, they've got numbers,
• 1:22:38
  Speaker 1: but will they be willing to pay the cost, the
• 1:22:41
  Speaker 1: economic cost of sanctioned cost, the potential of dragging the
• 1:22:46
  Speaker 1: United States and China might just leave Taiwan alone. And
• 1:22:52
  Speaker 1: I think there's a good chance that over the next
• 1:22:55
  Speaker 1: five years we will not see a Chinese invasion of Taiwan.
• 1:22:58
  Speaker 1: And who knows what happens after that. Isteric economy aside
• 1:23:04
  Speaker 1: from health and family issues. I have trouble understanding unhappy
• 1:23:08
  Speaker 1: wealthy people. Is it values related lack of goals to
• 1:23:12
  Speaker 1: use the money? Yeah, it's all values related. Happiness is
• 1:23:16
  Speaker 1: all about values. It's not about family, it's not about
• 1:23:19
  Speaker 1: it's not even about health. Ultimately, you can be unhealthy
• 1:23:23
  Speaker 1: and happy. Happiness is all about values. It's about the
• 1:23:29
  Speaker 1: pursuit and achievement are pro life values. And a lot
• 1:23:35
  Speaker 1: of people who are very wealthy don't know what to
• 1:23:38
  Speaker 1: do with their money. They don't have any values anymore.
• 1:23:42
  Speaker 1: The value was getting the money or the values worth
• 1:23:44
  Speaker 1: starting a company. They started it, they sold it, they
• 1:23:47
  Speaker 1: made a billion dollars. Now what they don't know what
• 1:23:51
  Speaker 1: to do with. Happiness does not come from spending money.
• 1:23:56
  Speaker 1: It does not come from buying yads. It does not
• 1:23:59
  Speaker 1: come from two hundred million dollar weddings. It does not
• 1:24:02
  Speaker 1: come from having money. It comes from the pursuit of values.
• 1:24:10
  Speaker 1: And you can still do that if you're a billionaire.
• 1:24:13
  Speaker 1: You start a space company, for example, start a new company.
• 1:24:17
  Speaker 1: You don't learn how to sing. I don't know find values,
• 1:24:22
  Speaker 1: pursue values. But some people don't know what to do
• 1:24:25
  Speaker 1: with themselves. They lose interest lose interest in the world,
• 1:24:29
  Speaker 1: they become playboys, they become pure materialists, and they can't
• 1:24:33
  Speaker 1: be happy. So it's not about money. And you know,
• 1:24:49
  Speaker 1: I know, I think beyond a certain amount of money,
• 1:24:54
  Speaker 1: money is fun and great and can achieve things, but
• 1:24:57
  Speaker 1: it's not necessary for happiness. You know, it can reduce stress,
• 1:25:07
  Speaker 1: but I think too much emphasis is placed on it. Andrew,
• 1:25:13
  Speaker 1: we could use a reverse DIM that identifies and celebrates
• 1:25:16
  Speaker 1: the causes of enlightenment. Is there a book out there
• 1:25:18
  Speaker 1: that does that. Well, there's a sense in which Dim
• 1:25:21
  Speaker 1: does that, right. He talks about the Enlightenment, he talks
• 1:25:24
  Speaker 1: about what it is that made the Enlightenment the Enlightenment.
• 1:25:27
  Speaker 1: But in terms of the causes of the Enlightenment, yeah,
• 1:25:29
  Speaker 1: I mean Thomas Aquinas h and the Renaissance basically caused
• 1:25:38
  Speaker 1: the Enlightenment. So uh, But at an epistemological level, you know,
• 1:25:48
  Speaker 1: I don't know. I don't know how you would do
• 1:25:51
  Speaker 1: something like Dim. You didn't even have a genius like
• 1:25:53
  Speaker 1: Leonard to do something like that. I'm certainly not that
• 1:25:58
  Speaker 1: all right, guys, thank you, thank you. This has been
• 1:26:03
  Speaker 1: the run Brooks Show News show for Friday, September fifth.
• 1:26:08
  Speaker 1: There will be a show tomorrow on something unrelated to
• 1:26:12
  Speaker 1: the news. I'll figure out what it is exactly or
• 1:26:14
  Speaker 1: related to the news, but more in depth. We'll see
• 1:26:18
  Speaker 1: maybe something positive, maybe something about Florence. I will let
• 1:26:24
  Speaker 1: you know, thank you all for being with us, and
• 1:26:28
  Speaker 1: I will see you tomorrow and if not, on Monday. Bye, everybody.