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Mamdani; Grade Inflation; Russia's War; Job Mismatch; Redistricting; Good News | Yaron Brook Show · Yaron Brook Show

• 0:03
  Speaker 1: A lot of them fund the Metal Misters of Widow
• 0:07
  Speaker 1: Last and an individual lots. This is the show. Oh right, everybody,
• 0:21
  Speaker 1: welcome to your one book show on this Wednesday, November nineteenth.
• 0:25
  Speaker 1: It's almost Thanksgiving. Hope everybody's having a fantastic week. I'm
• 0:30
  Speaker 1: looking forward to next week Thanksgiving and holiday season and
• 0:34
  Speaker 1: all of that. It's gonna be. Uh, it's gonna be
• 0:37
  Speaker 1: a lot of fun, all right. Uh.
• 0:42
  Speaker 2: I don't think we I think this is the last
• 0:43
  Speaker 2: show of the week.
• 0:44
  Speaker 1: Probably we'll see if I if I can do any
• 0:48
  Speaker 1: shows the rest of the week, but probably this is
• 0:52
  Speaker 1: the last show of the week. All right, let's make
• 0:55
  Speaker 1: it a good one, right, So Nicos Nicos, you know
• 1:01
  Speaker 1: Nicos Nicos. I can't whose name is family name? I
• 1:04
  Speaker 1: cannot pronounce Soti whatever, impossible to pronounce it's you can't
• 1:09
  Speaker 1: do it anyway. Nikos has a good video out a
• 1:12
  Speaker 1: couple of days ago, a few days ago, four days ago.
• 1:15
  Speaker 2: It's got to be already got fifty one thousand views.
• 1:17
  Speaker 1: I mean, Nikos's videos just they just do they get
• 1:21
  Speaker 1: amazing on a viewership, which is great. He's got forget
• 1:26
  Speaker 1: forget woke, the new Left, the left, new formula and
• 1:30
  Speaker 1: how to fight it, which is a good title. And
• 1:34
  Speaker 1: uh and yeah.
• 1:36
  Speaker 2: Fifty one thousand views. That's great. So I want to
• 1:40
  Speaker 2: talk a little bit about something.
• 1:41
  Speaker 1: He says, then connected to mom Donnie and some news
• 1:44
  Speaker 1: from the Mam Donnie camp from from today, Remo wants
• 1:50
  Speaker 1: to pay me to try to pronounce Nikos's family name. I'm,
• 1:53
  Speaker 1: you know, sure, for the right amount of money, I'm
• 1:56
  Speaker 1: willing to try to pronounce anything. And this connects to
• 2:01
  Speaker 1: a video of the Nick for interest is put out.
• 2:03
  Speaker 1: I think it's just just put out. Yeah, it came
• 2:05
  Speaker 1: out today. Nick Foinder put out a video today about
• 2:08
  Speaker 1: how progressive democrats, i e. Leftists can work with nationalists, republicans,
• 2:15
  Speaker 1: groupers or whatever. It's a former United Front, which I've
• 2:20
  Speaker 1: been talking about for decades now. Right, somehow wrap yourself
• 2:28
  Speaker 1: around a flag and a environmentalism and wrapping some other
• 2:33
  Speaker 1: topics and you get the formula where everybody can be
• 2:36
  Speaker 1: happy authoritarianism and the one thing that everybody agrees about
• 2:39
  Speaker 1: is no free market.
• 2:41
  Speaker 2: So that's easy.
• 2:42
  Speaker 1: So let's talk about Mom Donnie in the context of
• 2:47
  Speaker 1: kind of what is the left trying to.
• 2:48
  Speaker 2: Do and where's the left going to go?
• 2:51
  Speaker 1: Because I agree with I agree with kind of Nikoses
• 2:56
  Speaker 1: analysis because basically says looks dead. Woke is the visive.
• 3:02
  Speaker 1: People are not going to vote for woke. The're not
• 3:04
  Speaker 1: interested in woke. The kind of identitarian politics of the
• 3:10
  Speaker 1: left is only going to get so many people involved.
• 3:14
  Speaker 1: And the kind of everything's about the victims. That's that's
• 3:19
  Speaker 1: not what mum donny wanna, maum donnyjana on one thing,
• 3:23
  Speaker 1: on on on a thing that he kept pushing and
• 3:25
  Speaker 1: he kept promoting, and he kept saying, and he kept
• 3:27
  Speaker 1: and he was very dynamic and young, and but he
• 3:31
  Speaker 1: but he one thing he pushed on, pushed on, pushed on,
• 3:33
  Speaker 1: pushed on, and that is affordability. That is we need
• 3:38
  Speaker 1: to you know, you guys, the government needs to help
• 3:42
  Speaker 1: you be able to afford stuff. And you know, and
• 3:46
  Speaker 1: this is a form of kind of left wing populism.
• 3:49
  Speaker 1: We can the master's uh, houses too expensive, We can
• 3:54
  Speaker 1: solve that problem. Will subsidize your houses, rent is too high,
• 3:58
  Speaker 1: will freeze rents.
• 4:00
  Speaker 2: You know, we we the government can solve your problem.
• 4:04
  Speaker 1: And it's it's very similar to kind of popularism on
• 4:07
  Speaker 1: the way there's no principle, it's a question of it's
• 4:13
  Speaker 1: a question of the government just you know, coming up
• 4:18
  Speaker 1: with something and just doing it and just solving the problem.
• 4:21
  Speaker 1: But the problems identified as those problems that are kind
• 4:24
  Speaker 1: of resonate with the mass of people. And you can
• 4:29
  Speaker 1: see that the Republicans and Trump is pivoted with Mam
• 4:32
  Speaker 1: Donnie to affordability. Affordability is the catchword, right, we need
• 4:38
  Speaker 1: to make things more affordable. And of course Trump is
• 4:41
  Speaker 1: quite happy to throw out the free market stuff in
• 4:44
  Speaker 1: order to make things more footable. Mam Donnie never believed
• 4:47
  Speaker 1: in the free market stuff. He's not throwing anything out,
• 4:49
  Speaker 1: but he's going to jump on the on the affordability stuff.
• 4:54
  Speaker 1: The key word now is how do we give free
• 4:58
  Speaker 1: stuff to people? Right? This is kind of left doing populism,
• 5:02
  Speaker 1: and it's Democrats have always stood for this to some extent,
• 5:06
  Speaker 1: but now it's it's kind of more explicit than they
• 5:08
  Speaker 1: have a free bus rides, free public transportation, and you
• 5:13
  Speaker 1: know that wrapped us up with other things from the
• 5:16
  Speaker 1: left that that are important to them, like green stuff.
• 5:20
  Speaker 1: They'll talk a lot about green stuff, but Mamdani's not
• 5:23
  Speaker 1: gonna I mean, what can you do if you're mayor
• 5:26
  Speaker 1: in New York in terms of green policy. There's not
• 5:28
  Speaker 1: a lot you can actually do in that regard. So
• 5:32
  Speaker 1: most of what his stuff is going to be redistribution.
• 5:35
  Speaker 2: Right, tax the.
• 5:37
  Speaker 1: Rich, I mean Republicans, particularly of the of the of
• 5:42
  Speaker 1: the Fuentes, Tucka JD. Van's type, but all four increasing
• 5:48
  Speaker 1: Texas and the Wish Josh you know what's his name, Fowley.
• 5:52
  Speaker 2: The Senator. They're all four.
• 5:57
  Speaker 1: Taxing the rich, increasing, increasing Texas, and the US redistributing
• 6:01
  Speaker 1: them in the name of affordability, right, affordability. So let's
• 6:08
  Speaker 1: just redistribute massive amounts of wealth towards the people who
• 6:12
  Speaker 1: supposedly need it. I mean, there seems to be a
• 6:15
  Speaker 1: consensus now that there's a sense of which the Scandinavian
• 6:18
  Speaker 1: model is the right model.
• 6:21
  Speaker 2: That just make people satisfied.
• 6:25
  Speaker 1: You know, we can kill some innovation or kill some
• 6:27
  Speaker 1: productivity well with these economic growth, but we take away
• 6:31
  Speaker 1: the bottom, so people at least the bottom is gone.
• 6:36
  Speaker 2: So people are just satisfied. Everybody's just okay. And you
• 6:46
  Speaker 2: know what did mom, Donny run on.
• 6:47
  Speaker 1: He didn't run on woke, he didn't run on identitarian politics.
• 6:51
  Speaker 1: I mean a little bit mainly to appease his left,
• 6:54
  Speaker 1: But what he really ran on were the economic issues
• 6:57
  Speaker 1: with the free busses, the the rent control and a
• 7:04
  Speaker 1: bunch of other things, and at the same time things
• 7:09
  Speaker 1: that are actually mum Donnie's that are pretty good. He
• 7:13
  Speaker 1: down't played because he didn't think that there's leftist supporters
• 7:16
  Speaker 1: would really go for them that much like mc donnie
• 7:18
  Speaker 1: has supported dramatically changing building codes in New York City
• 7:21
  Speaker 1: to allow for more construction of housing, significantly more construction
• 7:26
  Speaker 1: of housing.
• 7:27
  Speaker 2: So he's bought into.
• 7:29
  Speaker 1: Somebody's convinced him that affordability rent controllers is not enough.
• 7:35
  Speaker 2: You also need to build more, so they're actually going
• 7:37
  Speaker 2: to build more.
• 7:39
  Speaker 1: Also, there was announcement today coming out of New York
• 7:42
  Speaker 1: City which I think is interesting, which is that mum
• 7:47
  Speaker 1: donnie has basically m'mdannie and the current New York Police
• 7:54
  Speaker 1: Department commissioner have agreed that she will continue in her
• 7:58
  Speaker 1: role into the mud donne the administration. Now, this woman's
• 8:03
  Speaker 1: name is Jessica Trish desca. Tish is not a kind
• 8:08
  Speaker 1: of a progressive leftist. She's not woke, she's not defund
• 8:13
  Speaker 1: the police. I mean, she is a huge advocate for
• 8:19
  Speaker 1: police officers, a huge office advocate for police presence and neighborhoods.
• 8:24
  Speaker 1: Under her watch, crime in New York City and I know,
• 8:28
  Speaker 1: I know, I know some of you just don't want
• 8:30
  Speaker 1: to hear this, but crime in New York City has
• 8:31
  Speaker 1: gone down a lot. Violent crime in New York City
• 8:35
  Speaker 1: has gone down a lot. Murderates in New York City
• 8:39
  Speaker 1: down to historic lows, particularly this year.
• 8:43
  Speaker 2: And this is not number rigging the numbers.
• 8:46
  Speaker 1: This is the reality. It's across the country. In most places,
• 8:49
  Speaker 1: crime is down. Not if you want, but in most places,
• 8:52
  Speaker 1: crime is down. It's back to the trends we saw
• 8:54
  Speaker 1: in the late twenty teens. And the New York Police
• 8:59
  Speaker 1: Department Commissioner has done a pretty good job in New
• 9:01
  Speaker 1: York City. And she hasn't done it by timming back police,
• 9:06
  Speaker 1: by reducing the police budget and all of that. And
• 9:08
  Speaker 1: the reason she says she agreed to stay on, even
• 9:11
  Speaker 1: though who and Mum Donny don't agree on a bunch
• 9:14
  Speaker 1: of stuff, is because she believes she can continue to
• 9:16
  Speaker 1: do her job. She believes she can continue to make
• 9:19
  Speaker 1: New York safe. She believes that Mum Donnie is going
• 9:22
  Speaker 1: to give enough to be able to, you know, continue
• 9:27
  Speaker 1: the trend of lower crime in New York. And I
• 9:29
  Speaker 1: think mum Donny's smart, right, He's he's taken the crime
• 9:32
  Speaker 1: issue out. He's not gonna he's not gonna he's not
• 9:36
  Speaker 1: gonna run and he's not going to really advocate for
• 9:39
  Speaker 1: defunding the police. It's a losing strategy for the left.
• 9:43
  Speaker 1: You know, everywhere they made a big deal out of that.
• 9:45
  Speaker 1: They lost. Mum Donnie knows that he didn't run on that. Really,
• 9:50
  Speaker 1: he ran on you can't afford stuff. We need, we
• 9:54
  Speaker 1: need the government. We need goverment run grosty stores. We
• 9:58
  Speaker 1: need we need goverment run grosty store. We need gum
• 10:01
  Speaker 1: and run rental units. We need an increased building, we
• 10:03
  Speaker 1: need a uh you know, we need we need free
• 10:06
  Speaker 1: buses and and I don't know, and we need to
• 10:09
  Speaker 1: stick the homeless in the subway system. I'm not sure
• 10:11
  Speaker 1: how that will go. I think that will backfire on him.
• 10:17
  Speaker 1: He is not he's not looking for a fight on police.
• 10:22
  Speaker 1: It'll be interesting how he positions himself viasa e. Donald
• 10:24
  Speaker 1: Trump in terms of ice and in terms of immigration,
• 10:29
  Speaker 1: and and how big of a fight he gets into.
• 10:32
  Speaker 1: So Nick Frantis says as a video today that basically says, Look,
• 10:37
  Speaker 1: progressive Democrats and nationalist Republicans can unify. We can unify
• 10:44
  Speaker 1: around a lot of issues. We can unify around a
• 10:49
  Speaker 1: lot of issues. You know, the left will have to
• 10:54
  Speaker 1: give up on on immigration, that will have to accept
• 11:00
  Speaker 1: the fact that they should be a border and you know,
• 11:02
  Speaker 1: still di immigration. And as I've said many many times,
• 11:04
  Speaker 1: I don't think it's that hard for the lift to
• 11:06
  Speaker 1: give up an immigration because when they go to their
• 11:09
  Speaker 1: union roots, right, not the woke stuff. The wok is
• 11:12
  Speaker 1: open the borders, anybody can come in, but to their
• 11:16
  Speaker 1: if they go if you go back to the to
• 11:18
  Speaker 1: the union roots, they're not pro immigration, they're anti immigration. Now,
• 11:22
  Speaker 1: how many you know democrats, how many progressives leftists are
• 11:28
  Speaker 1: like that are still union oriented, more oriented towards called
• 11:34
  Speaker 1: marx than oriented to wards post colonial, you know, postmodern stuff.
• 11:40
  Speaker 1: I don't know, but I think Mamdania is this guy
• 11:45
  Speaker 1: debated the socialists had debated in Colorado, Bakshaw Bascal is
• 11:50
  Speaker 1: a Marxist more than he is a a A a woke.
• 11:56
  Speaker 1: So you're going to get You're going to get more
• 11:58
  Speaker 1: of these people, you know, Okay, So they'll compromise an
• 12:01
  Speaker 1: immigration as Nick foyentes is the right will compromise in
• 12:05
  Speaker 1: free markets, which they already are. So that's nobody compromise.
• 12:08
  Speaker 1: They're ready there, right, they're already there, and there's a
• 12:14
  Speaker 1: bunch of stuff that they can agree on to do
• 12:19
  Speaker 1: you know suddenly, I don't think anybody on the right
• 12:22
  Speaker 1: is going to object or in controls. I don't think
• 12:24
  Speaker 1: anybody on the right is going to object to uh,
• 12:28
  Speaker 1: you know, different ways in which to deal with so
• 12:30
  Speaker 1: called affordability, you know, socialized healthcare. I think the right
• 12:39
  Speaker 1: and the left can probably come together on a plan
• 12:42
  Speaker 1: to socialize healthcare. I mean maybe not, you know all
• 12:49
  Speaker 1: the senators we have right now, but we're talking about
• 12:51
  Speaker 1: the new right, We're talking about the Nick Foy intess
• 12:53
  Speaker 1: techer Coss.
• 12:54
  Speaker 2: Right.
• 12:55
  Speaker 1: Yeah, they're they're cool with with socializing health care. And
• 13:01
  Speaker 1: of course, the one thing that unifies the Mamdanis and
• 13:05
  Speaker 1: Nick for intises of the world, the one thing that
• 13:07
  Speaker 1: they suddenly agree on beyond its affordability and we need
• 13:12
  Speaker 1: to destroy the free market or to gain success, the
• 13:16
  Speaker 1: one thing they can really unify on is hatred for
• 13:18
  Speaker 1: is Israel. So, as.
• 13:23
  Speaker 2: You know, Nick Fointa says, yeah, I mean, if.
• 13:27
  Speaker 1: The left and the right you come together to eliminate
• 13:30
  Speaker 1: all fallen aid to Israel, a majority of Americans will
• 13:34
  Speaker 1: support that.
• 13:34
  Speaker 2: And I think that's right.
• 13:35
  Speaker 1: A majority of Americans right now would support that.
• 13:41
  Speaker 2: So you know, we're going to We're going to see
• 13:47
  Speaker 2: how all this evolves.
• 13:49
  Speaker 1: But again, the root to authoritarianism, the path to authoritarianism
• 13:54
  Speaker 1: is through some kind of unity of left and right,
• 13:58
  Speaker 1: some kind of coalition that takes the radical left and
• 14:03
  Speaker 1: the radical right. I I don't think environmentalism is something
• 14:07
  Speaker 1: they're going to disagree about at the end of the day.
• 14:10
  Speaker 1: The right is accommodating of certain issues around environmentalism. And
• 14:17
  Speaker 1: if you listen to the Integralists, the Patrick Denise, the Vermules,
• 14:22
  Speaker 1: the Denians of the Vermules all actively talk about man's
• 14:27
  Speaker 1: responsibility to nature and we have to keep our environment
• 14:30
  Speaker 1: and God left nature for us. We must, you know,
• 14:35
  Speaker 1: we must be good keepers.
• 14:38
  Speaker 2: Of the garden.
• 14:38
  Speaker 1: We must be good gardeners, we must keep the environment.
• 14:41
  Speaker 1: I mean, they don't sound that different than the left.
• 14:44
  Speaker 1: And we must they say, balance economic growth with environmentalism.
• 14:48
  Speaker 1: And I think this new type of leftist populist leftists
• 14:53
  Speaker 1: who are going to be more concerned about economics I
• 14:57
  Speaker 1: eat marks than modern woke stuff. I mean, they're not
• 15:03
  Speaker 1: really Marxist, and I actually challenged Buscar in terms of
• 15:06
  Speaker 1: how Marxist he is.
• 15:07
  Speaker 2: They're not really Marxist.
• 15:09
  Speaker 1: But they accept the idea that the employee employee relationship
• 15:13
  Speaker 1: is in an exploitation agreement arrangement, and they reject that.
• 15:17
  Speaker 1: And they care about economic class, they care about inequality,
• 15:21
  Speaker 1: they care about costs. But they do believe in economic growth.
• 15:28
  Speaker 1: So they think they believe in economic growth, so they
• 15:31
  Speaker 1: can align with some of the yimbies and some of
• 15:36
  Speaker 1: the pro growth Democrats on some issues, like Mamdani supporting
• 15:40
  Speaker 1: more building of housing units in New York. I mean,
• 15:45
  Speaker 1: I think he'd like much of that building to be
• 15:48
  Speaker 1: done by the government with public funds. But he's he
• 15:54
  Speaker 1: wants to reduce regulations so more building can be built,
• 15:56
  Speaker 1: more housing can be built, more residential cooties can be built.
• 16:02
  Speaker 1: And you know, you're seeing a real blurring. You know,
• 16:06
  Speaker 1: what is the difference, What are the disagreements if we
• 16:10
  Speaker 1: can take policing off, because that's that's kind of part
• 16:14
  Speaker 1: of the walk for right stuff. You know, they kind
• 16:17
  Speaker 1: of agree in identity politics, but Neither one is going
• 16:21
  Speaker 1: to win an identity policy. If we take identity politics
• 16:23
  Speaker 1: and we we kind of subdue it a little bit,
• 16:29
  Speaker 1: if we say, okay, we'll we'refore giving people free stuff,
• 16:35
  Speaker 1: we'refore making things more affordable, We're for reducing costs.
• 16:38
  Speaker 2: However that is done.
• 16:40
  Speaker 1: You know, they pretend that they can do that through
• 16:42
  Speaker 1: things like rent control, even though prices will go up,
• 16:46
  Speaker 1: or through socialized medicine, quality will go down and taxes
• 16:50
  Speaker 1: will have to go up. Say, but they can agree
• 16:53
  Speaker 1: on all this stuff. They can agree on Israel, hate Israel.
• 16:59
  Speaker 1: They can't be anti sem Might explicitly right. They can't
• 17:02
  Speaker 1: come out again against the Jews because that'll that'll lose
• 17:06
  Speaker 1: votes that way. But if they come out just against Israel, no,
• 17:09
  Speaker 1: they win on that one. You know, the right on
• 17:17
  Speaker 1: the left could really light They hate CEOs. I'm just
• 17:20
  Speaker 1: watching there's a video that came up here about the
• 17:23
  Speaker 1: the murderer of the CEO of United Healthcare. They don't
• 17:28
  Speaker 1: disagree about that. Go after the CEOs, tax the rich,
• 17:36
  Speaker 1: and suddenly you've got a very powerful political entity that is,
• 17:40
  Speaker 1: you know, kind of a unity of populist right and
• 17:42
  Speaker 1: populist left. Now, whether that could ever happened, just in
• 17:45
  Speaker 1: terms of just the alignment is how to tell. But again,
• 17:49
  Speaker 1: the likely scenario is you get a very charismatic leader
• 17:52
  Speaker 1: who comes about, who advocates for ideas that attracted both
• 17:57
  Speaker 1: to the populist left and attractive to the populist right,
• 18:00
  Speaker 1: and forms a large coalition that's neither left nor right,
• 18:05
  Speaker 1: just collectivist, but it's populist and gains political power that way.
• 18:12
  Speaker 1: You know, it has to be appeasing of religion, it
• 18:16
  Speaker 1: has to be patriotic, it has to be in some
• 18:18
  Speaker 1: way another America. First, it has to be anti crime.
• 18:22
  Speaker 1: That's the things that the left will have to give in.
• 18:25
  Speaker 1: And in order to get the left, it has to
• 18:27
  Speaker 1: be pro you know, pro environment, at least soft pro environment.
• 18:34
  Speaker 1: It has to be pro redistribution. It has to be
• 18:38
  Speaker 1: pro free stuff to people. You know, it has to
• 18:42
  Speaker 1: be anti free markets. And that combination of in some
• 18:47
  Speaker 1: ways the worst of all worlds is how you get
• 18:51
  Speaker 1: the next authoritarian, you know, the next real populist, big
• 18:55
  Speaker 1: time leader who is an authoritarian. And you know Trump
• 19:00
  Speaker 1: flirts with that, but he's too the visive to unite
• 19:05
  Speaker 1: people around a vision because he doesn't have a vision
• 19:07
  Speaker 1: because he doesn't really care. It's all about corruption and
• 19:10
  Speaker 1: and and and narcissism and how he looks and and
• 19:14
  Speaker 1: and what he can get out of it. But if
• 19:16
  Speaker 1: you had somebody who's really committed and who understood how
• 19:20
  Speaker 1: to exploit all these all this, I mean, you can
• 19:24
  Speaker 1: build a really big significance substantial coalition around it. And
• 19:31
  Speaker 1: this is why it's going to be worth watching Mumdani,
• 19:36
  Speaker 1: seeing what he actually does, seeing how he rallies or
• 19:39
  Speaker 1: doesn't rally support around it, seeing what he gives and
• 19:45
  Speaker 1: what he doubles down on. Right, I think I think
• 19:49
  Speaker 1: he's going to double down on his anti Israel stuff
• 19:53
  Speaker 1: at the same time as making clears of the world
• 19:56
  Speaker 1: that he's not anti Semitic and not being too who
• 20:00
  Speaker 1: only not being too woke.
• 20:02
  Speaker 2: Because that is super unpopular.
• 20:06
  Speaker 1: So yeah, we will we will see how it evolves.
• 20:13
  Speaker 1: But the good news for those of you living in
• 20:15
  Speaker 1: New York or wanting to visit New York or wanted
• 20:19
  Speaker 1: to go to business in New York is that New
• 20:21
  Speaker 1: York could probably continue to be a safe place even
• 20:23
  Speaker 1: with mum Donnie winning, given that he just announced that
• 20:27
  Speaker 1: Jessica Tish is going to remain the mayor of.
• 20:34
  Speaker 2: The Mayor of God.
• 20:36
  Speaker 1: It just gets this is you remain in the Police department, commissioner.
• 20:40
  Speaker 1: And she's done, as I said, a good job with
• 20:45
  Speaker 1: with crime so far during her tenure. And she sent
• 20:51
  Speaker 1: out the way this was announced. It wasn't that Mum
• 20:54
  Speaker 1: Donnie announced that. She announced it first. She sent out
• 20:57
  Speaker 1: an email to all the police officers and to people
• 21:01
  Speaker 1: who work in the police department basically saying that she
• 21:08
  Speaker 1: is staying and she's committed to the path they've they've
• 21:13
  Speaker 1: they've put together to reduce crime.
• 21:16
  Speaker 2: In the department.
• 21:17
  Speaker 1: And so she announced that the police officer first, and
• 21:20
  Speaker 1: then Mum Donnie came out and announced it to the
• 21:22
  Speaker 1: press and everybody else. So again I think a sign
• 21:27
  Speaker 1: that he is not going to go down the path
• 21:31
  Speaker 1: of defunding the police. Defunding the police, which is good,
• 21:40
  Speaker 1: good for all of us who visit New York and
• 21:42
  Speaker 1: don't want to be worried about increasing crime. Yeah, so
• 21:54
  Speaker 1: we're gonna wait and see what he actually does with
• 21:57
  Speaker 1: homeless people, you know, whether you can make us and
• 22:00
  Speaker 1: and and there's subways free.
• 22:02
  Speaker 2: How he raises the money to do that.
• 22:04
  Speaker 1: I mean one of his first one of his first
• 22:06
  Speaker 1: challenges is going to be to convince the governor of
• 22:09
  Speaker 1: New York and the New York legislature to raise taxes.
• 22:15
  Speaker 1: He can't, I don't think, unilaterally raise taxes in.
• 22:17
  Speaker 2: New York City.
• 22:18
  Speaker 1: He has to get he has to get approval of
• 22:20
  Speaker 1: of state government. It'll be interesting how he gets that.
• 22:24
  Speaker 1: I wouldn't be shocked if taxes go up. Maybe not
• 22:26
  Speaker 1: as much as he would like, but taxes will probably
• 22:29
  Speaker 1: go up in New York. Uh. And and yeah, free
• 22:33
  Speaker 1: stuff will happen, rent control will happen. We'll see if
• 22:39
  Speaker 1: more housing building will happen again. There seems to be
• 22:45
  Speaker 1: a push to deregulate the building of housing and deregulate zonning.
• 22:49
  Speaker 1: Some more, more more apartments can be built. We'll see
• 22:52
  Speaker 1: if it actually actually happens or not. All right, So
• 23:06
  Speaker 1: that is uh, that is mum danny to be watched,
• 23:09
  Speaker 1: to be watched, and I think I think to be
• 23:12
  Speaker 1: uh followed as kind of the the model of a
• 23:17
  Speaker 1: new populist populist not anti woke but uh non woke
• 23:25
  Speaker 1: left that will try against steam in the next few
• 23:31
  Speaker 1: years and and particularly it will try against steam towards the.
• 23:37
  Speaker 2: The coming uh. You know, congressional elections. I mean, I
• 23:50
  Speaker 2: I doubt that mum Donny.
• 23:51
  Speaker 1: I mean, I'm being criticized because, uh, mum Donny has
• 23:57
  Speaker 1: a well fleshed out policy about h about homelessness. I
• 24:01
  Speaker 1: am very skeptical about that, very skeptical about that. He's
• 24:05
  Speaker 1: proposing to use spaces to address the issue of you know,
• 24:09
  Speaker 1: of of the homeless in in in you know, in
• 24:16
  Speaker 1: the underground system in New York City. I think it's
• 24:21
  Speaker 1: I think these are superficial ways he's he wants to
• 24:24
  Speaker 1: increase mental health and all this stuff. Stuff just been
• 24:28
  Speaker 1: tried in em Francisco and tried in Los Angeles and
• 24:31
  Speaker 1: has not worked anyway. And there's no real reason to
• 24:34
  Speaker 1: think that Mam donnie is going to be able to
• 24:38
  Speaker 1: solve the problem of homelessness in New York. So I'm
• 24:41
  Speaker 1: dismissive because I'm dismissive because I don't think it's a
• 24:44
  Speaker 1: serious I don't think he's serious about it. I don't
• 24:46
  Speaker 1: think anybody's really serious about the homeless. They don't know
• 24:49
  Speaker 1: what they're doing, and and there's no easy solution to it.
• 24:56
  Speaker 1: I mean, you you have to do a massive combination
• 24:59
  Speaker 1: all timately in the long run, the combination is dramatically
• 25:03
  Speaker 1: increase housing the availability of housing, so the prices come
• 25:07
  Speaker 1: down a lot, not come down a little, but come
• 25:09
  Speaker 1: down a lot. I think that's doable, although nobody's actually nobody.
• 25:12
  Speaker 1: It doesn't look like anybody's actually doing it. But you know,
• 25:15
  Speaker 1: there's no there's very little homelessness in parts of the
• 25:18
  Speaker 1: country where housing is very, very cheap. But then you
• 25:22
  Speaker 1: also have to solve the drug problem and the mental
• 25:25
  Speaker 1: health problem. And the drug problem you're probably gonna have
• 25:27
  Speaker 1: to solve by legalizing drugs in some way, and the
• 25:29
  Speaker 1: mental health problem you're going to have to solve by
• 25:33
  Speaker 1: finding different ways to be able to get people into
• 25:35
  Speaker 1: facilities where they can be helped. And how you do that,
• 25:40
  Speaker 1: and it's constitutionality, and how you do that within the
• 25:44
  Speaker 1: scope of the rule of law, I don't know exactly,
• 25:47
  Speaker 1: but you've got to You've got to take people who
• 25:49
  Speaker 1: are incapable of taking care of themselves and therefore turn
• 25:54
  Speaker 1: to harassing other people because of their mental health problems.
• 25:57
  Speaker 1: You've got to get them out of the streets and
• 25:59
  Speaker 1: you've got them get them into institutions and and and that's.
• 26:02
  Speaker 2: Going to have to happen.
• 26:03
  Speaker 1: And I don't see anybody proposing, uh, you know, those
• 26:07
  Speaker 1: kind of solutions to the problem. Beyond that, I just
• 26:11
  Speaker 1: don't think. I think Mamdani is a is you know,
• 26:15
  Speaker 1: basically a leftist con artist in a sense that you know,
• 26:21
  Speaker 1: price controls, any kind of price controls never work. A
• 26:25
  Speaker 1: government run grocery store is a joke. All you need
• 26:27
  Speaker 1: to do is bring in Walmart and into New York
• 26:30
  Speaker 1: City and prices will come down. But Walmart is banned
• 26:33
  Speaker 1: from New York City. Here's other proposals around around more
• 26:38
  Speaker 1: government involvement in the economy are pathetic and bad.
• 26:43
  Speaker 2: So you know, you all of that, all of that is.
• 26:51
  Speaker 1: It's difficult left wing pretending to solve problems that then
• 26:57
  Speaker 1: make it worse. Making buses free, making subways free, as
• 27:01
  Speaker 1: if money grows on trees, and then increasing dramatically increasing
• 27:04
  Speaker 1: taxes on the people who actually productive in the city,
• 27:07
  Speaker 1: who actually are creating the jobs, and actually you know,
• 27:11
  Speaker 1: allowing if you can, of any kind of economy in
• 27:14
  Speaker 1: the city, taxing and penalizing success, penalizing production, penalizing people
• 27:19
  Speaker 1: who actually work for a living, penalizing people who are
• 27:22
  Speaker 1: being successful in order to fund all the stuff for
• 27:26
  Speaker 1: people who have not been. It is again left doing popularism,
• 27:31
  Speaker 1: but is a disaster in terms of its economics and
• 27:35
  Speaker 1: in terms of its morality, in terms of its justice.
• 27:37
  Speaker 1: It is unjust to tax the rich to give people,
• 27:42
  Speaker 1: you know, free bus rights. People should pay for bus rides.
• 27:47
  Speaker 1: It's a service, you know, if anything, Privatize the bussing
• 27:50
  Speaker 1: system and increase competition, make it easier for uber and
• 27:55
  Speaker 1: lyft and of course bringing weimo, being way moo and
• 27:59
  Speaker 1: being fibulous, cause that's how you lower transortation costs in
• 28:04
  Speaker 1: New York City, not by offering free stuff. Uffering these
• 28:07
  Speaker 1: stuff only distorts and perverts. I mean, how many times
• 28:11
  Speaker 1: do we have to talk about the importance of pricing,
• 28:13
  Speaker 1: the importance of the price signal, the perversion of subsidizing
• 28:19
  Speaker 1: demand and taxing supply so that you get less supply
• 28:22
  Speaker 1: and more demand, which only causes prices to go up
• 28:25
  Speaker 1: even more in one way another like prices can be
• 28:29
  Speaker 1: like prices can be either that the literal price goes up,
• 28:34
  Speaker 1: or it can be that the product that you reaching quality.
• 28:40
  Speaker 1: For example, you make buses free, you know, too many
• 28:43
  Speaker 1: people start using and then you can't take them. You
• 28:47
  Speaker 1: can't use them unusable so the economic distortions are massive,
• 28:52
  Speaker 1: and every one of these programs has massive economic distortions
• 28:55
  Speaker 1: associated with it. We all, I mean, anybody who study
• 28:58
  Speaker 1: economics knows this. And yet the populist left keeps pushing
• 29:02
  Speaker 1: and pushing. This time, it'll work. This time, we've got
• 29:05
  Speaker 1: a clever way to do it. We talked about this
• 29:07
  Speaker 1: about rain control yesterday. It's a disaster, and I haven't
• 29:12
  Speaker 1: And again mcdonnie has not offered a serious plan to
• 29:17
  Speaker 1: solve the real problems that New York faces, and which
• 29:21
  Speaker 1: is not surprising because he comes from the left. And
• 29:25
  Speaker 1: just as Trump is not offered a serious plan to
• 29:28
  Speaker 1: lower costs in America, to lower the cost of living
• 29:32
  Speaker 1: in America, you could have a serious plan on how
• 29:34
  Speaker 1: to lower the cost of living in America. But it's
• 29:37
  Speaker 1: not tariffs. It's not you know it controls over trade.
• 29:43
  Speaker 1: It's not more government spending. It's not growth in government.
• 29:47
  Speaker 1: It has to do with the exact opposite process. It
• 29:49
  Speaker 1: has to do with deregulation, freeing.
• 29:51
  Speaker 2: Up and all of that.
• 29:55
  Speaker 1: All right, I will recommend Nikosa's video. You can find
• 30:00
  Speaker 1: Nikos's video a Nichosa's video on.
• 30:05
  Speaker 2: YouTube.
• 30:06
  Speaker 1: It's got forget woke the left new formula and how
• 30:10
  Speaker 1: to fight it. It's it's quite good and I'm sure
• 30:13
  Speaker 1: you'll know how to find Nick foy Interos's video as well.
• 30:17
  Speaker 1: Make Walmart pay living wage. Walmart pays a living wage.
• 30:21
  Speaker 1: Every single one of the people working at Walmart is alive.
• 30:25
  Speaker 1: They all make a living wage if they and if
• 30:28
  Speaker 1: Walmart didn't present the best job opportunity they had, they
• 30:31
  Speaker 1: wouldn't work there. But so and the fact is, Walmart
• 30:38
  Speaker 1: wanted to open stores in New York. New Yorkers wanted
• 30:42
  Speaker 1: jobs at Walmart because they were good jobs, and the
• 30:48
  Speaker 1: authoritarians in chief, the authoritarians in charge, prohibited Walmart from
• 30:54
  Speaker 1: entering the city.
• 30:56
  Speaker 2: And basically Walmart has walked away.
• 30:59
  Speaker 1: But if you want to low costs, and the low
• 31:01
  Speaker 1: costs are not because they pay the employees less than
• 31:03
  Speaker 1: other people.
• 31:04
  Speaker 2: The low cost of Walmart have nothing to do with
• 31:06
  Speaker 2: the cost very little to do with the.
• 31:08
  Speaker 1: Cost of labor, and everything to do with a superior
• 31:12
  Speaker 1: supply chain management system, a a understanding of you know,
• 31:19
  Speaker 1: getting the products that people actually want to the store
• 31:22
  Speaker 1: when they want it, uh and in bulk, so that
• 31:25
  Speaker 1: the cost of low. It's got to do with warehousing.
• 31:28
  Speaker 1: It's got it's got to do with supply chain. I mean,
• 31:30
  Speaker 1: Walmont is, together with Amazon, the two best companies in
• 31:33
  Speaker 1: the world, and supply chain management. That's why they cost
• 31:37
  Speaker 1: a low So you want a low cost of living,
• 31:44
  Speaker 1: it's easy. Do you regulate, Allow Walmart in, allow other
• 31:48
  Speaker 1: big retailers in a lot of people who actually know
• 31:52
  Speaker 1: how to lower costs. And the government grocery store is
• 31:57
  Speaker 1: a joke, always has been a joke, always would be
• 31:59
  Speaker 1: a joke. You can write up the best business plan
• 32:02
  Speaker 1: in the world, but the incentives all messed up and
• 32:05
  Speaker 1: all screwed up, and every attempt at a government run
• 32:08
  Speaker 1: grocery store has failed.
• 32:12
  Speaker 2: Why would you expect it to be different this time?
• 32:15
  Speaker 1: Not to mention again the immorality of raising taxes on
• 32:19
  Speaker 1: the productive in order to fund such a stupid scheme.
• 32:26
  Speaker 1: All right, here's the most depressing story you'll hear about.
• 32:34
  Speaker 1: I don't know this month this year. This is about
• 32:38
  Speaker 1: as depressing as it gets. And it's not political. It's
• 32:41
  Speaker 1: just real. It's what's going on in our in our world.
• 32:43
  Speaker 1: I mean, it's somewhat political because the main culprit is
• 32:47
  Speaker 1: coming out of California, But you get a sense that
• 32:49
  Speaker 1: this might be going.
• 32:50
  Speaker 2: On all over the country.
• 32:53
  Speaker 1: There's just been a study coming out of the University
• 32:56
  Speaker 1: of California, San Diego examining this the entry class, uh,
• 33:03
  Speaker 1: the incoming freshmen into the University of California San Diego.
• 33:08
  Speaker 1: It's a it's a. University of California San Diego is
• 33:10
  Speaker 1: one of the most beautiful campuses in the country. It's
• 33:13
  Speaker 1: a it's a it's a really good university. It's particularly
• 33:16
  Speaker 1: good at certain stem subjects, biology and biotech and things
• 33:21
  Speaker 1: like that, and and it's it's again gorgeous campus. If
• 33:26
  Speaker 1: you've never been, it's worth visiting to see how beautiful
• 33:28
  Speaker 1: the university is.
• 33:29
  Speaker 2: Anyway, Uh, they just published a report about.
• 33:35
  Speaker 1: Kind of the the math proficiency of incoming students freshman
• 33:43
  Speaker 1: student at UC San Diego. And let's be clear, it's
• 33:46
  Speaker 1: not easy to get into UC San Diego. You have
• 33:48
  Speaker 1: to have really good grades, you have to have really
• 33:52
  Speaker 1: good grades in high school to get into UC San Diego.
• 33:54
  Speaker 1: And yet, whereas five years ago about thirty incoming freshmen
• 34:01
  Speaker 1: thirty three zero at you see San Diego arrived at
• 34:05
  Speaker 1: school without the math skills that would allow them a
• 34:10
  Speaker 1: college education. So you know, below high school level about thirty.
• 34:15
  Speaker 1: So you see, San Diego introduced a remedial math class
• 34:18
  Speaker 1: where those thirty students could be taught up to get
• 34:21
  Speaker 1: them to the point where they could take, you know,
• 34:23
  Speaker 1: like a calculus class in college, which is kind of
• 34:27
  Speaker 1: a quiet particularly even for psychology and for certainly for
• 34:31
  Speaker 1: biology at the university. But according to a recent report,
• 34:36
  Speaker 1: that number today, just five years later, is nine hundred students.
• 34:44
  Speaker 2: Nine hundred.
• 34:47
  Speaker 1: Students who've been accepted and who are freshmen at U
• 34:49
  Speaker 1: see San Diego do not have skills, you know, high
• 34:56
  Speaker 1: school math skills.
• 34:58
  Speaker 2: It's actually worse than that.
• 35:01
  Speaker 1: Most of the nine hundred don't actually fully meet middle
• 35:07
  Speaker 1: school mass standards. Middle school mass standards. Here's an example
• 35:13
  Speaker 1: of a problem that was it a third of the
• 35:16
  Speaker 1: student the quote of the code of the students couldn't solve.
• 35:19
  Speaker 1: Here's the problem. You can probably all do it in
• 35:21
  Speaker 1: your heads, and if you can't, don't.
• 35:23
  Speaker 2: Tell me, because I don't want to know.
• 35:25
  Speaker 1: Seven plus two equals X plus six. What is X
• 35:33
  Speaker 1: seven plus two equals X plus six? What is X? Now?
• 35:39
  Speaker 1: I hope that every one of you got the answer right.
• 35:44
  Speaker 1: The answer is three, obviously, but twenty five percent. Twenty
• 35:50
  Speaker 1: five percent of incoming freshmen a QCSD could not answer
• 35:57
  Speaker 1: that question got the answer.
• 35:58
  Speaker 2: Well, I see a few of you got the answer right.
• 36:03
  Speaker 1: Good, But you know, getting an answer right on this
• 36:05
  Speaker 1: problem is you know, like a fourth grader should get
• 36:09
  Speaker 1: their answer right on this, Like certainly a middle school
• 36:12
  Speaker 1: student should get the answer right on this. Anybody who's
• 36:15
  Speaker 1: done just a little bit beginning algebra, I mean doesn't
• 36:18
  Speaker 1: even require really algebra.
• 36:20
  Speaker 2: But twenty five percent got wrong.
• 36:24
  Speaker 1: They don't even fully meet middle school math standards. They
• 36:29
  Speaker 1: struggle with fractions. They cannot do algebra. The university is selective,
• 36:38
  Speaker 1: so not super selectical like Harvard, but they had meant
• 36:40
  Speaker 1: about thirty percent of undergraduate applicants. So they introduced a
• 36:45
  Speaker 1: remedial math course that focuses on concepts on concepts in
• 36:50
  Speaker 1: math that are taught in elementary and middle school. Elementary
• 36:59
  Speaker 1: in middle school, you're studying in college. These kids can't think.
• 37:08
  Speaker 1: I've been telling you this for years now. They can't think.
• 37:11
  Speaker 1: One of the coursest tutors noted that students face more
• 37:15
  Speaker 1: issues with quote logical thinking than with math facts. Per see,
• 37:21
  Speaker 1: they didn't know how to begin solving a Wood problem.
• 37:29
  Speaker 1: So we've got kids, large numbers of kids who are
• 37:34
  Speaker 1: making it into college, making it into college at a
• 37:48
  Speaker 1: top university, who don't know math, don't no math at
• 38:00
  Speaker 1: a middle school level, who can't think, for which for
• 38:05
  Speaker 1: whom logic is you know, logic is a challenge. Now,
• 38:18
  Speaker 1: how does this happen? Because remember this is a selective
• 38:22
  Speaker 1: university that it's only a third of the students get in.
• 38:29
  Speaker 1: How is it the third that they accept have no knowledge?
• 38:38
  Speaker 1: Right now? It's happening because students are getting it. Looks
• 38:52
  Speaker 1: it's not because students are not going or not taking
• 38:56
  Speaker 1: advanced math classes in high school. They are. But the
• 39:02
  Speaker 1: reality is that if they took advanced math classus in
• 39:04
  Speaker 1: high schools and got czds or f's, they couldn't get
• 39:09
  Speaker 1: into UCSD. I mean, if you look at these students,
• 39:16
  Speaker 1: you would expect them to have failed high school math,
• 39:21
  Speaker 1: and yet they all have a's and b's. You'd expect
• 39:26
  Speaker 1: them to have failed middle school math, but they all
• 39:29
  Speaker 1: have a's and b's. I mean, here's here's a stunning
• 39:38
  Speaker 1: statistic for you. Of those who demonstrated math skills not
• 39:42
  Speaker 1: meeting middle school levels, the report found forty two of
• 39:48
  Speaker 1: them reported completing calculus or precalculus in high school. So
• 39:58
  Speaker 1: these are kids that don't know algebra, who can't do
• 40:00
  Speaker 1: an algebraic equation, can't solve algebra, and yet they took
• 40:04
  Speaker 1: calculus or peat calculus in high school and they got
• 40:08
  Speaker 1: an an A B in calculus, and they come to
• 40:11
  Speaker 1: the university and they don't even know how to do algebra.
• 40:19
  Speaker 1: It's it's unbelievable. I mean, I'm reading from this is
• 40:23
  Speaker 1: a I mean, there's a bunch of news stories here.
• 40:26
  Speaker 1: This is from a publication called The Argument by Kelsey
• 40:29
  Speaker 1: pipe Up, and she writes this, you know, and it's
• 40:34
  Speaker 1: not only yeah, the students who were broadly receiving good grades,
• 40:37
  Speaker 1: more than a quarter.
• 40:38
  Speaker 2: A quarter of the students.
• 40:40
  Speaker 1: Needing remedial math had a four point zero grade average
• 40:44
  Speaker 1: in math greade point average. The average was three point seven.
• 40:49
  Speaker 1: In fact, a report found that on average, student grades
• 40:52
  Speaker 1: in twenty twenty five rows compared to those students admitted
• 40:57
  Speaker 1: in twenty.
• 40:57
  Speaker 2: Twenty So what's going on?
• 41:07
  Speaker 1: What is going on the reality is that what's going
• 41:12
  Speaker 1: on is the teachers are passing everybody. Teachers are giving
• 41:16
  Speaker 1: a's and b's to students no matter what the level
• 41:21
  Speaker 1: of knowledge is.
• 41:22
  Speaker 2: This is happening in high schools all over the country,
• 41:30
  Speaker 2: and they just pass everybody.
• 41:33
  Speaker 1: People. Parents and school administrative complain if teachers give low grades.
• 41:40
  Speaker 1: It certainly if they fail as students and the teachers
• 41:44
  Speaker 1: just have given up and they just give them high grades.
• 41:50
  Speaker 1: I mean, a teacher says, I've taught AP calculus when
• 41:54
  Speaker 1: no one can do fractions AP calculus. You know, so
• 42:00
  Speaker 1: say my exam results when I was teaching it, Well,
• 42:03
  Speaker 1: mostly one student who actually has you know, the pre
• 42:07
  Speaker 1: workers and skills gets a five on the AP exam,
• 42:10
  Speaker 1: maybe one more ekes out a three, and everybody else
• 42:14
  Speaker 1: gets a one or two. I wasn't allowed to grade
• 42:18
  Speaker 1: in a way that would hold them accountable. She was asked,
• 42:25
  Speaker 1: what would happen if you did grade based on their
• 42:28
  Speaker 1: actual mastery of calculus? If I was failing all the
• 42:32
  Speaker 1: kids who weren't doing un level work, that would be
• 42:35
  Speaker 1: almost all of them. The kids will all be trying
• 42:39
  Speaker 1: to drop the class to preserve the GPAs, because that
• 42:43
  Speaker 1: is the set of kids that cares about class rank.
• 42:46
  Speaker 1: And if all the kids drop, they just won't run
• 42:50
  Speaker 1: the class at all. So they cancel APCL and then
• 42:53
  Speaker 1: she'd be out of a job, so she's not gonna
• 42:55
  Speaker 1: fail them all. So yeah, and kids don't know. They
• 43:10
  Speaker 1: don't know in a sense, teachers giving them a from
• 43:14
  Speaker 1: middle school on they just get a's and nobody tells
• 43:16
  Speaker 1: them they don't know anything. Then they were having college
• 43:19
  Speaker 1: and they don't know anything, or they do the AP
• 43:21
  Speaker 1: exam and they don't know anything. So this is what
• 43:28
  Speaker 1: happened when you get great inflation. This is what happened
• 43:31
  Speaker 1: when you give everybody an A. Nobody knows anything. The
• 43:36
  Speaker 1: center structure is completely distorted and perverted. And you know,
• 43:45
  Speaker 1: in the past, in California, there was some reality check
• 43:48
  Speaker 1: on this, like students had to take an SAT on
• 43:54
  Speaker 1: ACT test, which actually, while I think somebody, I think
• 43:59
  Speaker 1: Michael said it was a proxify Q, maybe it is,
• 44:02
  Speaker 1: but it basically tests knowledge. It's just knowledge of a field.
• 44:09
  Speaker 1: But in California, in California since twenty twenty, the use
• 44:17
  Speaker 1: of the system eliminated the requirement for SAT and ACT tests.
• 44:24
  Speaker 1: This was against the advice of academic you know, people
• 44:28
  Speaker 1: who know anything about education. So it's gone in twenty twenty.
• 44:35
  Speaker 1: They did it twenty twenty for COVID and then twenty
• 44:37
  Speaker 1: twenty one, they made it permanent, and since then the
• 44:42
  Speaker 1: number of students coming into at least UCSD and I
• 44:45
  Speaker 1: assume the entire California system.
• 44:50
  Speaker 2: Don't know math.
• 44:53
  Speaker 1: From thirty two people thirty two students to one thousand,
• 44:59
  Speaker 1: all they can about is the grade, because that's what's
• 45:01
  Speaker 1: going to turn on whether they get admitted into school.
• 45:04
  Speaker 1: There's no test of knowledge. When they get admitted into school,
• 45:08
  Speaker 1: they don't know anything. And what I found particularly scary
• 45:14
  Speaker 1: is that comment about they can't do logic, they can't think. Yeah,
• 45:19
  Speaker 1: not surprising. And this is not a COVID thing or
• 45:24
  Speaker 1: a phone thing. We like to blend COVID and phones
• 45:27
  Speaker 1: for everything. This is about bad teachers, bad administrators, and
• 45:33
  Speaker 1: parents who don't pay attention. This is about a system
• 45:37
  Speaker 1: that is rejected tests even though they provide objectivity about
• 45:41
  Speaker 1: knowledge in favor of teachers who then are not a
• 45:46
  Speaker 1: lot are really great, and if they great properly, they
• 45:49
  Speaker 1: don't really have a job. And then it screws up
• 45:57
  Speaker 1: students who might have deceived them. I was into thinking
• 46:00
  Speaker 1: we're going to go in and get an engineering degree,
• 46:05
  Speaker 1: but they don't have the math skills to do that.
• 46:08
  Speaker 1: And even if they do do the remedial math at
• 46:13
  Speaker 1: the university, they're so far behind. The capacity to think
• 46:18
  Speaker 1: has been so you know, hoods and harmed that very
• 46:24
  Speaker 1: few of them ever completed an engineering degree, even once
• 46:27
  Speaker 1: they passed the remedial college stuff. I mean, there's a
• 46:33
  Speaker 1: building that happens and a skill that's developed that they
• 46:37
  Speaker 1: don't have because their math in high school was I
• 46:39
  Speaker 1: don't know what they did in math class. They certainly
• 46:44
  Speaker 1: weren't studying math. They certainly weren't learning math. The other
• 46:50
  Speaker 1: thing that the audico at least makes clear is these
• 46:53
  Speaker 1: are not These students are not lazy, and these students
• 46:55
  Speaker 1: are not dumb. It's a lot extent. This is not
• 46:58
  Speaker 1: the student's fault. This is the fault of government schools.
• 47:03
  Speaker 1: This is the fault of teacher unions and teachers. This
• 47:08
  Speaker 1: is the fault of a system, the system of education
• 47:12
  Speaker 1: in this case at the state level. And I also
• 47:17
  Speaker 1: think this is the fault of parents who are not
• 47:18
  Speaker 1: paying enough attention to what they student. The kids are
• 47:21
  Speaker 1: being taunt but this is the fault of government schools,
• 47:26
  Speaker 1: government education. That's the bottom line. That is the bottom line,
• 47:34
  Speaker 1: and it's super depressing, super depressing. How you get out
• 47:42
  Speaker 1: of this, you know, I don't know. By the way,
• 47:45
  Speaker 1: it's also the fault of woke, right, it's the fault
• 47:49
  Speaker 1: of woke egalitarianism, the ones they have. All students should
• 47:54
  Speaker 1: get the same grade, nobody should fail the class there is,
• 47:58
  Speaker 1: everybody is the same, out should be the same, implemented.
• 48:02
  Speaker 2: At the at the schools.
• 48:04
  Speaker 1: Woke egalitarianism, or galitarianism more broadly, is an unbelievably destructive philosophy.
• 48:12
  Speaker 1: And here's a great example. Everybody gets the same grade.
• 48:15
  Speaker 2: Everybody gets a's and b's.
• 48:16
  Speaker 1: Well, then nobody knows anything, and a few, a few,
• 48:20
  Speaker 1: a very few number of students can overcome that, but
• 48:23
  Speaker 1: most kids get destroyed by it.
• 48:31
  Speaker 2: We need to go back to teaching merit based knowledge.
• 48:39
  Speaker 1: Grades are secondary, and universities need to start thinking about
• 48:44
  Speaker 1: other ways to admit students other than grades, because obviously grades.
• 48:50
  Speaker 2: Don't work.
• 48:51
  Speaker 1: The incentives are all messed up, and everybody's got a
• 48:57
  Speaker 1: GPA of four point zero even if they don't know anything.
• 49:04
  Speaker 1: I mean, this isn't even like somebody says John Dewey.
• 49:07
  Speaker 1: But it isn't even John Dewey's doing. This is just
• 49:13
  Speaker 1: I mean, it's not like they're using any of John
• 49:16
  Speaker 1: Dewey's methodology.
• 49:17
  Speaker 2: Even this is just.
• 49:19
  Speaker 1: Teachers who don't care, administrators really don't care, and an
• 49:25
  Speaker 1: egalitarian ideology that is just destroying education in America. Right.
• 49:36
  Speaker 1: I mean, to the to the credit of the person
• 49:42
  Speaker 1: who wrote the argument article, I mean, she blames the
• 49:46
  Speaker 1: whole idea of equity. She says, the aim of equity
• 49:49
  Speaker 1: is not to brag about how many students of a
• 49:52
  Speaker 1: target background you woulden a in calculus.
• 49:55
  Speaker 2: It's ensure that every student actually learns. That's what equity
• 49:59
  Speaker 2: should mean.
• 50:03
  Speaker 1: And then she goes on furthermore to the parents reading
• 50:05
  Speaker 1: in this, your child's good grades may mean nothing.
• 50:09
  Speaker 2: Parents understandably tend to assume that if their kids is
• 50:11
  Speaker 2: getting in a grades that means they are learning. I'm
• 50:15
  Speaker 2: here to deliver bad news.
• 50:16
  Speaker 1: It doesn't. It is very possible that your child who
• 50:20
  Speaker 1: is bringing home straight a's is a catastrophically is catastrophically
• 50:23
  Speaker 1: behind in one or more subject areas. I've heard stories
• 50:29
  Speaker 1: from parents whose kids were getting a's in language arts
• 50:33
  Speaker 1: and could not fluently read. I've heard from parents whose
• 50:36
  Speaker 1: kids were getting a's in math, then failed a placement
• 50:39
  Speaker 1: test and learned that their school had simply not bothered
• 50:43
  Speaker 1: to cover a significant portion of the curriculum. I mean,
• 50:48
  Speaker 1: this is horrific, and this is why education needs to
• 50:52
  Speaker 1: be privatized. Parents need to take responsibility for their kids' education, responsibility.
• 50:59
  Speaker 1: Gument schools need to be shut down, and you just
• 51:04
  Speaker 1: you know, the whole evil incentive structure of state run
• 51:09
  Speaker 1: schools needs to be eliminated and it needs you know,
• 51:13
  Speaker 1: the private sector is very good at getting results. So yeah,
• 51:21
  Speaker 1: I mean it's unbelieved depressing. This is one university. One
• 51:25
  Speaker 1: can only imagine that this is this is in a
• 51:29
  Speaker 1: lot of different places. Oh wow, we're going late today.
• 51:32
  Speaker 1: All right. We are way, way, way, way, way way
• 51:35
  Speaker 1: behind on our fundraising goals. Remember this is show funded
• 51:41
  Speaker 1: by support from listeners watchers like you, and we're way behind,
• 51:46
  Speaker 1: and you know, we're at the one hour mark almost
• 51:49
  Speaker 1: and we haven't reached the one hour goal. We're far
• 51:51
  Speaker 1: behind the one hour goals.
• 51:52
  Speaker 2: So you know, step up here.
• 51:56
  Speaker 1: You guys can do stickers, you can do super checked questions,
• 52:00
  Speaker 1: variety of different ways in which you can support the show.
• 52:02
  Speaker 1: Please consider doing so so that the show can keep going.
• 52:06
  Speaker 1: Because the only way this show is possible the only
• 52:10
  Speaker 1: way I can devote the time necessary for the show
• 52:13
  Speaker 1: is because of the funding you provide, and so please
• 52:17
  Speaker 1: consider that stickers questions. We've got a lot of like
• 52:23
  Speaker 1: one two dollar questions, not even a lot of that,
• 52:25
  Speaker 1: but we need some twenty fifty hundred and fifty dollars
• 52:28
  Speaker 1: questions to keep us rolling here and to keep it
• 52:35
  Speaker 1: all good. All right, David, thank you for the sticker,
• 52:39
  Speaker 1: or df thank you for the sticker. Keep it, keep
• 52:42
  Speaker 1: it incoming. Guys, We're still about one hundred, one hundred
• 52:46
  Speaker 1: and thirty five dollars short, So let's keep it going
• 52:49
  Speaker 1: for the first hour goal, not even for the three
• 52:52
  Speaker 1: hours we might be going, because I'm only I'm less
• 52:55
  Speaker 1: than halfway through, although these stories are going to be
• 52:58
  Speaker 1: shorter maybe who knows. God.
• 53:04
  Speaker 2: Then we're going back to education. I'm gonna flip the
• 53:07
  Speaker 2: order here.
• 53:07
  Speaker 1: Let's talk about jobs mismatch, because that seems more appropriate
• 53:12
  Speaker 1: given what we just talked about. I mean, obviously that
• 53:16
  Speaker 1: what we just talked about is one huge problem with education.
• 53:21
  Speaker 1: But one of the other problems with education, and and
• 53:24
  Speaker 1: and this is this has released in high schools, but
• 53:26
  Speaker 1: it also mainly relates to colleges.
• 53:28
  Speaker 2: Is we're producing a lot.
• 53:29
  Speaker 1: You know, we're encouraging people, incentivizing people with subsidizing people
• 53:36
  Speaker 1: to go to college, go to university, learn fields where
• 53:40
  Speaker 1: they cannot find jobs in afterwards, where there's no work
• 53:43
  Speaker 1: for them afterwards. We have diminished the value of what
• 53:54
  Speaker 1: used to be called blue collar work and elevated the
• 53:58
  Speaker 1: value of I don't know, uh, you know, college degrees
• 54:05
  Speaker 1: and and it kind of work that that produces. But
• 54:08
  Speaker 1: the reality is we'll probably we probably have today too
• 54:11
  Speaker 1: many graduates.
• 54:13
  Speaker 2: Now, this is not a market failure.
• 54:16
  Speaker 1: You would usually say it's a market failure when you
• 54:19
  Speaker 1: produce too much of a good and there's not enough
• 54:21
  Speaker 1: demand for it. There's just not enough demand for ethnic
• 54:26
  Speaker 1: studies graduates and and uh, and you know, gender studies graduates,
• 54:32
  Speaker 1: and Middle East studies graduates, and but he probably even
• 54:37
  Speaker 1: philosophy and history and so on. There's just not a
• 54:39
  Speaker 1: lot of demand. And we get a lot of kids
• 54:44
  Speaker 1: who come out of college and there's not a lot
• 54:46
  Speaker 1: of jobs. And yet there is a lot of demand.
• 54:53
  Speaker 2: For skilled labor.
• 54:58
  Speaker 1: Uh. The COO four I was giving a talk Jim Fowley,
• 55:04
  Speaker 1: and he was basically said that photo right now has
• 55:10
  Speaker 1: got five thousand openings, five thousand job openings for mechanical jobs.
• 55:17
  Speaker 1: Now mechanical jobs now note these are jobs that pay
• 55:21
  Speaker 1: one hundred and twenty thousand dollars a year.
• 55:24
  Speaker 2: So these are not low jobs. These are not Walmart jobs.
• 55:28
  Speaker 2: These are not first job.
• 55:30
  Speaker 1: Out of college jobs unless you're in STEM one hundred
• 55:33
  Speaker 1: and twenty thousand dollars. And by the way, you can
• 55:36
  Speaker 1: become a co mechanic without taking out the kind of
• 55:38
  Speaker 1: debt that it would require you to get a BA
• 55:41
  Speaker 1: or a master's or PhD in gender studies. So he says,
• 55:48
  Speaker 1: they've got five they cannot fill. They cannot find five
• 55:53
  Speaker 1: thousand mechanic jobs. They can't fill them that are paying
• 55:58
  Speaker 1: one hundred and twenty thousand a year, he writes, Or
• 56:05
  Speaker 1: he says, we have over a million openings and critical
• 56:08
  Speaker 1: jobs in the country, emergency services, trucking, factory workers, plumbers, electricians,
• 56:16
  Speaker 1: and tradesmen. Right, he says, you know, he's got a
• 56:29
  Speaker 1: bay factory b with a lift and tools and no
• 56:34
  Speaker 1: one to work in it. We do not have trade
• 56:37
  Speaker 1: schools in this country. We don't teach people how to
• 56:41
  Speaker 1: be mechanics. We you know, community colleges have become remedia,
• 56:46
  Speaker 1: high schools, GOMA, working work at training programs suck. Unsurprisingly,
• 56:55
  Speaker 1: they're not very good. And what do we subsidize. We
• 57:01
  Speaker 1: subsidize anybody who wants to go to college with loans
• 57:05
  Speaker 1: and grants and a million other ways, and it doesn't
• 57:08
  Speaker 1: matter how much it's going to cost. And of course
• 57:11
  Speaker 1: a big part of this is that the government is
• 57:16
  Speaker 1: willing to lend money to anybody who goes to college,
• 57:19
  Speaker 1: no matter what they drop prospects on. At the end
• 57:21
  Speaker 1: of the day, one solution to this problem is to
• 57:28
  Speaker 1: privatize student loans. I mean, isn't the solution to almost
• 57:32
  Speaker 1: every problem to privatize I know it sounds that way,
• 57:36
  Speaker 1: but it's true. It is. It's the moral solution, and
• 57:39
  Speaker 1: it's the economically efficient solution, and it's the educationally correct
• 57:42
  Speaker 1: solution to privatize student loans. And banks have to do it,
• 57:47
  Speaker 1: or private equity does it? You know, private equity is good.
• 57:51
  Speaker 1: Then the lender, the person who's going to lend you
• 57:53
  Speaker 1: the money to go to university, is going to ask you,
• 57:57
  Speaker 1: what's you going to study, how long is it going
• 57:59
  Speaker 1: to take, how are you going to pay me back?
• 58:03
  Speaker 1: What are your job prospects? Afterwards, and they're going to
• 58:09
  Speaker 1: determine the interest rate on your loan that you get
• 58:14
  Speaker 1: to go to college based on the risk that they're
• 58:18
  Speaker 1: taking that you won't be able to pay it back.
• 58:21
  Speaker 2: So my guess is that are alone to study gender studies.
• 58:27
  Speaker 1: Is going to have a higher interest rate than a
• 58:30
  Speaker 1: loan to study I don't know, computer science, which makes
• 58:39
  Speaker 1: complete rational sense, and this incentivizes people to go and
• 58:44
  Speaker 1: study it.
• 58:45
  Speaker 2: Won't this incentivize the most.
• 58:47
  Speaker 1: Passionate people, the most committed people, they will go. But
• 58:50
  Speaker 1: at the margin, this incentivizes people from going to study
• 58:54
  Speaker 1: something that they will never get a job in and
• 58:59
  Speaker 1: instead maybe would you, but instead motivates fewer people to
• 59:06
  Speaker 1: go to college, more people to find jobs like these
• 59:09
  Speaker 1: mechanics who make one hundred and twenty thousand dollars a year.
• 59:12
  Speaker 2: That's opening salarly. That's just the beginning.
• 59:20
  Speaker 1: According to this article, only one hundred and fourteen thousand
• 59:22
  Speaker 1: Americans in their twenties completed vocational programs during the first
• 59:26
  Speaker 1: ten months of last year, compared to one point two
• 59:29
  Speaker 1: four million who graduated from four year colleges and four
• 59:33
  Speaker 1: hundred and five thousand who received advanced degrees. Yet recent
• 59:38
  Speaker 1: bachelor of recipients in their twenties were five point six
• 59:42
  Speaker 1: percentage points less likely to be employed than those who
• 59:46
  Speaker 1: finished vocational programs. And you would expect that there's enough
• 59:51
  Speaker 1: people at the margin who should and who would probably
• 59:56
  Speaker 1: benefit in every aspect of their lives from going totional
• 1:00:00
  Speaker 1: programs rather than going to college. But we have the
• 1:00:04
  Speaker 1: incentive structure upside down. This is again my point about
• 1:00:10
  Speaker 1: the fact, you know that markets provide healthy incentives. Markets
• 1:00:18
  Speaker 1: create incentive structures that work, that kept people to do
• 1:00:22
  Speaker 1: things that make sense, moral and practical. And it is
• 1:00:30
  Speaker 1: every time we try to intervene, anytime we step in
• 1:00:33
  Speaker 1: and and distort prices, dissort incentives, like by subsidizing through
• 1:00:38
  Speaker 1: the government student loans, we pervert, we distort the ability
• 1:00:44
  Speaker 1: of people or the incentives of people to actually pursue
• 1:00:50
  Speaker 1: what is in actually their self interest. So, you know,
• 1:01:02
  Speaker 1: bring markets, bring markets to education, bring markets to student loans,
• 1:01:07
  Speaker 1: bring markets to you know, the the job market and
• 1:01:11
  Speaker 1: the expectation of the job market. Markets are great at
• 1:01:17
  Speaker 1: matching skill and education and getting people to the to
• 1:01:21
  Speaker 1: the right place the best matches their skill set and
• 1:01:24
  Speaker 1: abilities and interests. But yeah, exactly the opposite, right, exactly
• 1:01:34
  Speaker 1: the opposite. Now, we'll see, we'll see it. It might
• 1:01:41
  Speaker 1: be that the people are learning that there's some move
• 1:01:47
  Speaker 1: towards reducing the kind of what do you call it,
• 1:01:51
  Speaker 1: the student loan issue, and not funding you know, unpromising
• 1:01:57
  Speaker 1: graduate degrees. But it's just, I mean, the fact is
• 1:02:02
  Speaker 1: that our government tries to steal everybody towards college. And
• 1:02:06
  Speaker 1: that's not good for it's not good for anybody, and
• 1:02:11
  Speaker 1: it's disruptive and distortive. The whole student loan program a
• 1:02:15
  Speaker 1: disruptive and distortive and again a big push. I mean,
• 1:02:20
  Speaker 1: Trump is talking about doing your way with the Education Department,
• 1:02:23
  Speaker 1: but keeping all the things the Education Apartment does, just
• 1:02:26
  Speaker 1: letting other people do it other departments in the government,
• 1:02:29
  Speaker 1: which is crazy, if you, I mean. Much more fun
• 1:02:32
  Speaker 1: than getting rid of the Education Apartment is getting rid
• 1:02:34
  Speaker 1: of student loans. Get rid of student loans. That should
• 1:02:38
  Speaker 1: be what we stand for. Government gives out no student loans,
• 1:02:43
  Speaker 1: just like it doesn't shouldn't subsidize business, shouldn't subsidize education.
• 1:02:47
  Speaker 1: Get out of the business completely, one hundred percent, privatize
• 1:02:51
  Speaker 1: it all all right, Now, let's do Russia's war, all right,
• 1:03:00
  Speaker 1: I mean, I haven't talked about the one in Ukraine
• 1:03:03
  Speaker 1: in a long time. I figured we do a quick
• 1:03:05
  Speaker 1: catch up. It's this is going to be very quick.
• 1:03:07
  Speaker 1: We'll have to come back to this topic another time
• 1:03:09
  Speaker 1: because we're ready an hour in more than an hour
• 1:03:12
  Speaker 1: in Thank you either way for picking up on the
• 1:03:15
  Speaker 1: on the super chat fund where where Now we've covered
• 1:03:17
  Speaker 1: the first hour and we're now into the second hour,
• 1:03:20
  Speaker 1: and and uh, you know, the the trickling in of
• 1:03:25
  Speaker 1: a funding for the show is increased, which is great.
• 1:03:28
  Speaker 1: The reality is that the war is ongoing and there's
• 1:03:31
  Speaker 1: no end in sight. Uh. While Ukraine does not seem
• 1:03:36
  Speaker 1: to have the capabilities suddenly given the military support that
• 1:03:41
  Speaker 1: it's received from the United States and Europe. Given that support,
• 1:03:44
  Speaker 1: it does not seem to have the capabilities to push
• 1:03:48
  Speaker 1: the Russians out of Ukrainian territory. Russia is advancing so
• 1:03:54
  Speaker 1: slowly to achieve its goals is going to take decades
• 1:04:01
  Speaker 1: and going to cost them hundreds of thousands of Russian
• 1:04:05
  Speaker 1: lives a year. I mean, this war is to a
• 1:04:11
  Speaker 1: large to stand still. You know, Putin is playing the
• 1:04:15
  Speaker 1: long game in the sense that he thinks he can
• 1:04:17
  Speaker 1: outlast is Zelenski. The fact is there's a big corruption
• 1:04:24
  Speaker 1: corruption investigation right now in Ukraine that is involving people
• 1:04:30
  Speaker 1: pretty close to Zelenski, and Zelenski is becoming less and
• 1:04:33
  Speaker 1: less popular in Ukraine. But the reality is that the
• 1:04:36
  Speaker 1: opposition parties in Ukraine are just as adamant about this
• 1:04:39
  Speaker 1: war as Zelenski is. So Putin gained something, but he
• 1:04:43
  Speaker 1: doesn't gain as much as he think he does. With
• 1:04:45
  Speaker 1: Zelensky leaving the scene, because the opposition parties are just
• 1:04:49
  Speaker 1: as adamant about fighting this war as Zelenski's. So Putin
• 1:04:56
  Speaker 1: is basically, I think, come to the conclusion that ending
• 1:05:01
  Speaker 1: the war is worse for him politically than keeping it going.
• 1:05:07
  Speaker 1: If he ends the war, he has to explain to
• 1:05:11
  Speaker 1: the Russian people, what the hell is going on, why
• 1:05:16
  Speaker 1: so many people died, Why the economy is in such shambles,
• 1:05:20
  Speaker 1: why this stand up living in quality of life has
• 1:05:22
  Speaker 1: declined so much. You know why.
• 1:05:28
  Speaker 2: Russia didn't win.
• 1:05:32
  Speaker 1: Because Russian people expected it to win, and to win
• 1:05:35
  Speaker 1: quickly and to win easily, as the most commentators around
• 1:05:38
  Speaker 1: the world, and it didn't.
• 1:05:41
  Speaker 2: He didn't win, didn't lose exactly, but it didn't win.
• 1:05:44
  Speaker 2: Given its aims. You could say it lost.
• 1:05:51
  Speaker 1: So but if he continues the war, he can place
• 1:05:54
  Speaker 1: the Russian economy on a war standing, he can rile
• 1:05:57
  Speaker 1: up patriotic spirit and you could say, well, going to
• 1:06:00
  Speaker 1: win any day. Now. He can lie to the Russian
• 1:06:02
  Speaker 1: people repeatedly he can. He's not imposed the draft because
• 1:06:07
  Speaker 1: he knows how unpopular that will be. But instead he's
• 1:06:10
  Speaker 1: paying people to join the military, paying them a lot
• 1:06:13
  Speaker 1: of money, particularly among the poor and among the ethnic minorities,
• 1:06:17
  Speaker 1: very large ethnic minorities in Russia, and the lower standard living,
• 1:06:24
  Speaker 1: the declining quality of life in Russia is explained as well,
• 1:06:29
  Speaker 1: we're war, I mean, and this is this is, this
• 1:06:31
  Speaker 1: is a must war for Russia, and we're gonna win.
• 1:06:35
  Speaker 1: And people are just willing to go along with it.
• 1:06:37
  Speaker 1: And they're certainly not willing to go and try to
• 1:06:39
  Speaker 1: get rid of Putin given how you know, his strong
• 1:06:43
  Speaker 1: arm tactics. So Putin is basically in this for the
• 1:06:48
  Speaker 1: long run, no incentive to cut a deal. Trump would
• 1:06:51
  Speaker 1: like a deal. And in this talk again about I
• 1:06:54
  Speaker 1: guess the the the the Trumpet administration are trying to
• 1:07:04
  Speaker 1: put together another peace effort, another peace proposal or twenty
• 1:07:08
  Speaker 1: points after the Gaza model twenty point piece deal, and
• 1:07:13
  Speaker 1: they're gonna They're gonna keep trying because Trump doesn't want
• 1:07:16
  Speaker 1: this war. A lot of people on his right, a
• 1:07:20
  Speaker 1: lot of people in the party don't like Ukraine and
• 1:07:22
  Speaker 1: they like Russia. They don't want America supporting Ukraine. But
• 1:07:26
  Speaker 1: if if Putin doesn't agree to a ceisfire and doesn't
• 1:07:31
  Speaker 1: agree to any peace deal, Trump is kind of I mean,
• 1:07:34
  Speaker 1: it would look like he's he's completely capitulated Putin if
• 1:07:38
  Speaker 1: he gives up, so he has to continue supporting Ukraine.
• 1:07:41
  Speaker 1: He does it indirectly through NATO and through Europe, but
• 1:07:44
  Speaker 1: he still does it, not fully, not to the point
• 1:07:48
  Speaker 1: where Ukraine could actually win, but just enough to keep
• 1:07:52
  Speaker 1: the keep the keep it going. And he dabbles and
• 1:07:55
  Speaker 1: he plays, and he tries his so called peace deal,
• 1:07:59
  Speaker 1: but there's going to be a peace deal. Putin doesn't
• 1:08:01
  Speaker 1: want a peace deal, you know, and Americans are tired
• 1:08:08
  Speaker 1: of this. At some point America is going to say,
• 1:08:12
  Speaker 1: well enough, you know, just whatever, let's stop supporting Ukrainians.
• 1:08:18
  Speaker 1: There's already a majority in America that wants the US
• 1:08:20
  Speaker 1: to stop supporting Israel. At some point here will have
• 1:08:24
  Speaker 1: a majority in Americans who want to stop supporting Ukraine.
• 1:08:30
  Speaker 1: You know, Russia will get its way. I don't think
• 1:08:32
  Speaker 1: that will help Russia win any faster, or maybe a
• 1:08:36
  Speaker 1: little bit faster. But this is a world that's going
• 1:08:39
  Speaker 1: to go on for a long, long, long long time
• 1:08:42
  Speaker 1: every time. By the way, there is a peace initiative
• 1:08:45
  Speaker 1: coming out of the White House.
• 1:08:47
  Speaker 2: Russia denies it.
• 1:08:48
  Speaker 1: Russia denies that it's interested, like he is from out
• 1:08:54
  Speaker 1: of a news piece. The Kremlin on Wednesday played down
• 1:08:57
  Speaker 1: a report that the United States was okay in a
• 1:09:00
  Speaker 1: twenty eight point piece deal for Ukraine and said there
• 1:09:04
  Speaker 1: were no new developments to announce since and August summit
• 1:09:08
  Speaker 1: between Putin and Trump. So yeah, Russia doesn't want it,
• 1:09:12
  Speaker 1: doesn't need it. It is quite happy just to grind
• 1:09:16
  Speaker 1: its young people into oblivion. It's quite happy, quite happy
• 1:09:20
  Speaker 1: to grind its economy into oblivion and to suffer quietly.
• 1:09:24
  Speaker 2: This is the fate of the Russian people.
• 1:09:26
  Speaker 1: If you've read the stavskill told story, you know, the
• 1:09:29
  Speaker 1: Russians are kind of okay with just just suffering. Suffering
• 1:09:33
  Speaker 1: is cool, you know, Suffering, Suffering is okay, you know,
• 1:09:39
  Speaker 1: and yeah, they're good at suffering, and so they're doing it.
• 1:09:44
  Speaker 1: They're doing it, and this could go on for a
• 1:09:47
  Speaker 1: long time because the Russians are well trained and suffering. Sad, pathetic,
• 1:09:56
  Speaker 1: but you know reality all right quickly on redistricting, so
• 1:10:06
  Speaker 1: you know the Texas plan.
• 1:10:08
  Speaker 2: The big thing in.
• 1:10:08
  Speaker 1: Texas was we're going to redistrict Texas and that'll give
• 1:10:12
  Speaker 1: the Republicans five new districts and that'll help them preserve
• 1:10:17
  Speaker 1: the House. And then California goes in and it also
• 1:10:20
  Speaker 1: redistricts and it gains five, so it wipes out the
• 1:10:23
  Speaker 1: Texas advantage. And now a federal court has ruled what
• 1:10:30
  Speaker 1: Texas did unconstitutional on the grounds of its discriminating based
• 1:10:35
  Speaker 1: on race, and they said they can't use the new
• 1:10:39
  Speaker 1: redistricting map. They have to use the old map, which
• 1:10:42
  Speaker 1: wipes out the five district advantage Republicans have. And yet
• 1:10:46
  Speaker 1: the California want is still holding. I don't think a
• 1:10:49
  Speaker 1: federal court is going to wipe that up because they
• 1:10:51
  Speaker 1: went through a whole referendum with the people.
• 1:10:56
  Speaker 2: So it's in front of the courts.
• 1:10:58
  Speaker 1: Now.
• 1:10:58
  Speaker 2: The Trumpet Dower station has appealed this already.
• 1:11:02
  Speaker 1: To the Supreme Court. The Supreme Court is going to
• 1:11:04
  Speaker 1: be in a position where they will help determine the
• 1:11:07
  Speaker 1: fate of the next election. But yeah, I mean, a
• 1:11:13
  Speaker 1: low court just struck down Texas a new congressional map,
• 1:11:17
  Speaker 1: and it's in front of Supreme courts.
• 1:11:18
  Speaker 2: I don't know how quickly Supreme Court will hear it.
• 1:11:23
  Speaker 1: You know what the problem is that, right? I mean,
• 1:11:27
  Speaker 1: the filing deadline for running in these districts is fast approaching.
• 1:11:34
  Speaker 1: Texas candidates must declare their bids for Congress by December eighth,
• 1:11:40
  Speaker 1: and yet it's unlikely. I can't imagine how the Supreme
• 1:11:44
  Speaker 1: Court is going to make a ruling on this before
• 1:11:46
  Speaker 1: December eighth. The whole issue about redistricting and race and
• 1:11:54
  Speaker 1: standards and all of this is is something Supreme Court
• 1:11:57
  Speaker 1: is going to deal with.
• 1:11:58
  Speaker 2: It wants to deal with it.
• 1:12:00
  Speaker 1: It's got it's gonna come down with some something that's
• 1:12:02
  Speaker 1: got the Tennessee case in front of it. But it's
• 1:12:06
  Speaker 1: hard to believe all of that is going to be
• 1:12:07
  Speaker 1: resolved by December eighth. So it doesn't look like Republican
• 1:12:13
  Speaker 1: incompetence is going to lead them to actually have led
• 1:12:18
  Speaker 1: Democrats to increase the number of their districts without Republicans
• 1:12:23
  Speaker 1: being able to match it. So we'll see, we'll see
• 1:12:30
  Speaker 1: how all of this is going to play out and
• 1:12:34
  Speaker 1: whether Trump can get the Supreme Coach to rule quickly.
• 1:12:38
  Speaker 1: Uh and uh, so we can goot will rule? Will
• 1:12:45
  Speaker 1: it rule in time to make a difference? Uh? And uh?
• 1:12:51
  Speaker 1: By what standard are they going to rule? And they're
• 1:12:53
  Speaker 1: gonna have to face up to the Civil Rights Acts
• 1:12:57
  Speaker 1: and and a variety of different precedents that they then
• 1:13:00
  Speaker 1: selves that the stream quote itself has and you know
• 1:13:04
  Speaker 1: it's it's not obvious at all how Distream code is
• 1:13:07
  Speaker 1: going to rule on all of this. Are they going
• 1:13:10
  Speaker 1: to cut back the Voting Rights Actor? I mean.
• 1:13:14
  Speaker 2: There's some inclination that they will, but when how badly?
• 1:13:21
  Speaker 1: So? How to tell? But again, there is a there
• 1:13:26
  Speaker 1: is a a case I think we talked about it
• 1:13:29
  Speaker 1: in a previous show from Louisiana that is looking at
• 1:13:34
  Speaker 1: again redistricting on the same kind of basis. Let's see,
• 1:13:38
  Speaker 1: let's see how they ultimately will. All Right, a few
• 1:13:42
  Speaker 1: good news I like to remind you a little bit,
• 1:13:45
  Speaker 1: you know, foordability crisis, all this stuff. So just a
• 1:13:48
  Speaker 1: few things. There is a there is a great mailing,
• 1:13:55
  Speaker 1: you know email that you can get on a regular.
• 1:13:58
  Speaker 2: Basis from human progress.
• 1:14:00
  Speaker 1: It comes once a week, I think, and it's got
• 1:14:02
  Speaker 1: some really just great good news stories, and so it's
• 1:14:08
  Speaker 1: a great resource for good news. So I picked three three.
• 1:14:12
  Speaker 1: One of them you've already seen. So this one you've
• 1:14:14
  Speaker 1: already seen. But I think we now have twenty twenty
• 1:14:17
  Speaker 1: four numbers. And this is the twenty four numbers. It
• 1:14:23
  Speaker 1: shows the middle class continues to shrink, oh my god,
• 1:14:26
  Speaker 1: continues to shrink, but it almost exclusively continues to shrink,
• 1:14:31
  Speaker 1: not almost, it exclusively continues to shrink. Because the number
• 1:14:34
  Speaker 1: of Americans earning over one hundred and fifty thousand is
• 1:14:39
  Speaker 1: now growing, continues to grow significantly. Now this is all
• 1:14:44
  Speaker 1: inflation adjusted. Don't worry, there's no cheating going on. But
• 1:14:48
  Speaker 1: it went from five point two percent to thirty three
• 1:14:51
  Speaker 1: point eight that's huge, huge, And the number of poor
• 1:14:56
  Speaker 1: people fifty thousand or less went from thirty eight point
• 1:14:58
  Speaker 1: four percent to twenty one percent. And the middle class
• 1:15:04
  Speaker 1: has gone from fifty six to forty five but all
• 1:15:07
  Speaker 1: in a good direction. A lot of people in middle
• 1:15:09
  Speaker 1: class have become relatively rich. So again this is to
• 1:15:13
  Speaker 1: counter all the economic doomerism out there, and all this affordability,
• 1:15:18
  Speaker 1: stuff and everything else. No, things are getting better. In
• 1:15:23
  Speaker 1: spite of everything, things are slowly getting better. Well maybe
• 1:15:31
  Speaker 1: not so slowly. Look at that, Look at how much.
• 1:15:34
  Speaker 1: How many people are making a lot of money. And
• 1:15:37
  Speaker 1: again this is adjusted for inflation. It's not adjusted for
• 1:15:41
  Speaker 1: home prices, but adjusted for inflation. And home prices are
• 1:15:46
  Speaker 1: really a problem on the coasts. In much of the
• 1:15:48
  Speaker 1: middle of America. Home prices are not that big of
• 1:15:50
  Speaker 1: a deal now. But you might say, oh, yes, of
• 1:15:53
  Speaker 1: course we know this, you're on. But it's young people.
• 1:15:56
  Speaker 1: Young people are being screwed. Gen Z is screwed. And
• 1:16:00
  Speaker 1: I've showed you graphs about income and the fact that
• 1:16:04
  Speaker 1: gen Z makes more money than everybody else at the
• 1:16:07
  Speaker 1: age at which they are. But you say, no, no, no,
• 1:16:09
  Speaker 1: it's not about income. It's about wealth. They don't have
• 1:16:12
  Speaker 1: any wealth. They don't have homes, they don't have all
• 1:16:13
  Speaker 1: this stuff. It's the good wealth. This is average wealth
• 1:16:19
  Speaker 1: at age thirty four by generation. The orange that is
• 1:16:23
  Speaker 1: covered up by me, that is baby boomers. Baby boomers
• 1:16:29
  Speaker 1: at the age of thirty four had, on average, is
• 1:16:32
  Speaker 1: all average, a net worth of two hundred and fifty
• 1:16:34
  Speaker 1: seven thousand dollars inflation adjusted guys in today's dollars. Is
• 1:16:40
  Speaker 1: it today's dollars, yeah, twenty twenty four dollars last year's dollars.
• 1:16:44
  Speaker 1: Gen x had at the age of thirty four networth
• 1:16:47
  Speaker 1: of two hundred and eighty three thousand, and notice a
• 1:16:51
  Speaker 1: wealth and millennials and gen zas on average have three
• 1:17:00
  Speaker 1: hundred and forty seven thousand dollars. It seems amazing the
• 1:17:09
  Speaker 1: one hundred thousand dollars richer. They're forty percent richer than
• 1:17:12
  Speaker 1: baby booms. Uh so, you know, maybe maybe I don't
• 1:17:21
  Speaker 1: know what else is going on here, but this looks good.
• 1:17:24
  Speaker 1: And even if they have more debt, no, that much
• 1:17:26
  Speaker 1: more debt, so stop.
• 1:17:33
  Speaker 2: I mean the domerism.
• 1:17:34
  Speaker 1: The problem with the domerism is it plays into the
• 1:17:37
  Speaker 1: hands of the populists. It makes it all the populist
• 1:17:46
  Speaker 1: complaining and then solutions much more likely. And it's not
• 1:17:51
  Speaker 1: because their parents have given them money that transaction, that
• 1:17:55
  Speaker 1: transfer of wealth is going to happen. We're talking about
• 1:17:57
  Speaker 1: trillions of dollars, tens of trillions of dollars. No, this
• 1:18:00
  Speaker 1: is because they make more money. I mean, if you
• 1:18:03
  Speaker 1: look at income, gen z Is make more money at
• 1:18:08
  Speaker 1: that age than any previous generation. Indeed, each generation makes
• 1:18:12
  Speaker 1: more money than the previous generation. At age let's say
• 1:18:15
  Speaker 1: twenty five, they make more money. They just they do.
• 1:18:20
  Speaker 1: Doesn't mean it will continue that way, but at least
• 1:18:22
  Speaker 1: for now that's the case. Now.
• 1:18:23
  Speaker 2: A lot of that is because the stock market.
• 1:18:25
  Speaker 1: Stock market has done phenomenally well over the lifetime of
• 1:18:29
  Speaker 1: millennials and gen zas particularly millennials maybe got into the
• 1:18:33
  Speaker 1: stock market sometimes around the financial crisis, and it's gone
• 1:18:36
  Speaker 1: shoot straight up since then. Not bad. The same thing
• 1:18:40
  Speaker 1: with baby boomers who got into stock market in the
• 1:18:42
  Speaker 1: seventies and eighties at the bottom in the seventies and
• 1:18:44
  Speaker 1: eighties instance, and it's gone up.
• 1:18:46
  Speaker 2: You know, it's had some bumps, but generally gone up.
• 1:18:50
  Speaker 1: But we live in an incredibly wealthy country, much much
• 1:18:54
  Speaker 1: better shape than European contemporaries, you know, and we need
• 1:19:03
  Speaker 1: to stop complaining, focused on the good and focus on
• 1:19:05
  Speaker 1: making it better, much much better. Ryan says, I like this,
• 1:19:17
  Speaker 1: when says your wealth graft doesn't factor in all the
• 1:19:20
  Speaker 1: existential angst and how hard life is for gen Z,
• 1:19:23
  Speaker 1: I think that's right. I mean, look, gen Z has
• 1:19:26
  Speaker 1: grown up in hard times. They lived to a great depression.
• 1:19:30
  Speaker 1: Oh no, wait a minute, they actually didn't. But they
• 1:19:33
  Speaker 1: lived to a world war, right, a world war. No,
• 1:19:35
  Speaker 1: that didn't happen, to the meta, they didn't even they
• 1:19:39
  Speaker 1: were drafted. They were sent overseas to fight in other wars. No,
• 1:19:44
  Speaker 1: that didn't happen. No, none of that happened. It turned out,
• 1:19:47
  Speaker 1: I mean, but they did. They were told that they
• 1:19:49
  Speaker 1: were killing the planet through climate change. That's a lot
• 1:19:53
  Speaker 1: of angst. They were told they are supporting genocide by
• 1:20:00
  Speaker 1: their tax money being funneled to Israel, and then for
• 1:20:03
  Speaker 1: the supporting jedicide. That must create a lot of angst.
• 1:20:05
  Speaker 1: It's not that they were told they had to go
• 1:20:07
  Speaker 1: and fight for Israel. They were told that some of
• 1:20:08
  Speaker 1: their money is going over there. And you know, some
• 1:20:12
  Speaker 1: of them couldn't afford the latest version of the iPhone.
• 1:20:15
  Speaker 1: They're still stuck with last year's iPhone and that must
• 1:20:18
  Speaker 1: be very, very hard for them. So yes, I'm sorry
• 1:20:21
  Speaker 1: if some of you are gen zs and I'm making
• 1:20:23
  Speaker 1: fun of you, but you deserve to be made fun
• 1:20:25
  Speaker 1: of because you guys are the most complaining generation, the
• 1:20:29
  Speaker 1: richest and most complaining generation ever, and we're gonna get
• 1:20:37
  Speaker 1: socialism because of you in some form or another, all right.
• 1:20:45
  Speaker 1: And finally one that doesn't affect Americans as much but
• 1:20:49
  Speaker 1: is on a global scale, is a huge piece of
• 1:20:53
  Speaker 1: good news. There is a new malaria drug that in
• 1:20:58
  Speaker 1: a stage three which is the final age of testing,
• 1:21:01
  Speaker 1: has done phenomenally well. It's a new treatment that cures
• 1:21:09
  Speaker 1: more than ninety nine malaria cases in those stage three tests.
• 1:21:16
  Speaker 2: The drug candidate.
• 1:21:19
  Speaker 1: May be also be able to prevent the spread of
• 1:21:22
  Speaker 1: the drug of drug resistant sub Saharan malaria. It's called
• 1:21:30
  Speaker 1: ganlum Ga n lum and it looks like the biggest
• 1:21:38
  Speaker 1: innovation and malaria treatment since the introduction of nineteen ninety
• 1:21:42
  Speaker 1: nine of combination therapies which were not as effective. And
• 1:21:47
  Speaker 1: think about it, about a million people die in parts
• 1:21:51
  Speaker 1: of Africa, particularly in Africa, but in other parts of
• 1:21:54
  Speaker 1: the world as well from malaria.
• 1:21:57
  Speaker 2: And there's a cure.
• 1:21:59
  Speaker 1: There's a a simple treatment now that cures ninety nine
• 1:22:03
  Speaker 1: percent of cases. So pretty cool, very effective, and yeah,
• 1:22:16
  Speaker 1: I mean, the science of medicine continues to advance in
• 1:22:20
  Speaker 1: spite of the attempts by governments and government agencies to
• 1:22:26
  Speaker 1: hamper its success. Science of medicine.
• 1:22:29
  Speaker 2: Continues to advance.
• 1:22:31
  Speaker 1: This is all good? All right? That is it. That
• 1:22:35
  Speaker 1: is the news for this November nineteenth Wednesday. It's Wednesday,
• 1:22:38
  Speaker 1: November nineteenth. All right, Let's see how we're doing on fundraising.
• 1:22:41
  Speaker 1: All right, we're doing okay, We're like short one hundred
• 1:22:47
  Speaker 1: and forty dollars or so to get to a second
• 1:22:49
  Speaker 1: hour goal. And we're definitely going to get into the
• 1:22:51
  Speaker 1: second hour. I mean we're in the second hour now.
• 1:22:53
  Speaker 1: We're probably going to go into the third hour given
• 1:22:56
  Speaker 1: the questions we have. We have quite a few questions,
• 1:22:58
  Speaker 1: too many of them in the two dollars realm and
• 1:23:02
  Speaker 1: not enough in the twenty and fifty dollars realm, but
• 1:23:04
  Speaker 1: we have a few.
• 1:23:05
  Speaker 2: So if you'd like to.
• 1:23:06
  Speaker 1: Support the show, if you'd like to help make the
• 1:23:08
  Speaker 1: show continue and possible, and you know, payfoot trade value
• 1:23:13
  Speaker 1: for value, please consider doing a sticker or a super chat.
• 1:23:18
  Speaker 1: Super Chat is great because you get to ask anything
• 1:23:20
  Speaker 1: you want, and you get to make a statement or
• 1:23:24
  Speaker 1: attack me or criticize me or whatever, and I will
• 1:23:27
  Speaker 1: read them all out loud as long as you put
• 1:23:29
  Speaker 1: a dollar amount to it. You can also support the
• 1:23:34
  Speaker 1: show on a monthly basis on Patreon dot com. I'm
• 1:23:37
  Speaker 1: actually looking for nine new people has to be new
• 1:23:42
  Speaker 1: and it's not doesn't count if you move from PayPal,
• 1:23:45
  Speaker 1: so it has to be new Patreon supporters. So I'm
• 1:23:48
  Speaker 1: looking for nine new Patreon supporters. I got two over
• 1:23:51
  Speaker 1: the last day or so, so I'm looking for nine
• 1:23:53
  Speaker 1: more who will support the one book show on Patreon
• 1:23:57
  Speaker 1: on a monthly basis. I think the two that I got,
• 1:24:00
  Speaker 1: we're both doing five dollars a month, so I think
• 1:24:03
  Speaker 1: almost all of you can afford to do five dollars
• 1:24:04
  Speaker 1: a month. The question is the show valuable enough for
• 1:24:07
  Speaker 1: you to do five dollars a month? Think of it
• 1:24:09
  Speaker 1: that way.
• 1:24:10
  Speaker 2: Is it a ten dollars a month?
• 1:24:12
  Speaker 1: You get a podcast, an audio podcast on your Apple podcast,
• 1:24:15
  Speaker 1: on any podcast you want, with no ads.
• 1:24:18
  Speaker 2: With no ads, you get a feed that has no
• 1:24:21
  Speaker 2: advertising on it, So.
• 1:24:24
  Speaker 1: You should consider the ten dollars. Of course, those of
• 1:24:27
  Speaker 1: you who value the show even more than that and
• 1:24:29
  Speaker 1: who can afford it, yeah, I mean it would love
• 1:24:33
  Speaker 1: to have a few people sign up at one thousand dollars.
• 1:24:36
  Speaker 1: With five hundred dollars or two fifty a month or
• 1:24:39
  Speaker 1: one hundred dollars a month. That makes a huge difference.
• 1:24:42
  Speaker 1: That really puts the show on solid financial ground so
• 1:24:47
  Speaker 1: that we can really plan expansion into the future. So
• 1:24:51
  Speaker 1: please consider doing that Patreon dot com just so show
• 1:24:54
  Speaker 1: you on book show.
• 1:24:56
  Speaker 2: I also want to mention some of my some of
• 1:25:00
  Speaker 2: my sponsors, UH we have UH we have.
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  Speaker 2: And apply for a scholarship.
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  Speaker 1: I know the number of scholarships, the number of people
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  Speaker 1: who applying for scholarship has gone up quite.
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  Speaker 2: A bit this year.
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  Speaker 1: You want even more. And I think the budget has
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  Speaker 1: and you know, let them know that you heard about
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  Speaker 1: it from this show. And let's get a massive conference.
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  Speaker 1: Let's get a humongous conference in Porto. It's going to
• 1:26:48
  Speaker 1: be a lot of fun. It's again a beautiful city,
• 1:26:51
  Speaker 1: and the Portuguese are incredibly incredible hosts, and it's going
• 1:26:58
  Speaker 1: to be a good time. I'll be there, Nikos will
• 1:27:00
  Speaker 1: be there on call, will be there as well, Ben
• 1:27:05
  Speaker 1: and Tut's.
• 1:27:06
  Speaker 2: Funny, So I'll be there to talk about it.
• 1:27:10
  Speaker 1: Let's see. Uh and uh? What else did I want
• 1:27:16
  Speaker 1: to cover? Yes, we have Michael Williams of Defenders of Capitalism,
• 1:27:20
  Speaker 1: of Leadership Program, the Rockies' sponsor. Check them out, Defenders
• 1:27:24
  Speaker 1: of Capitalism dot com, Defenders of Capitalism dot com. I
• 1:27:28
  Speaker 1: am a speaker for the Defenders of Capitalism. I do
• 1:27:31
  Speaker 1: a couple of lectures on capitalism for them. They are
• 1:27:34
  Speaker 1: dedicated to educating people about what capitalism really means. Michael
• 1:27:41
  Speaker 1: is longtime objectivist and longtime friend. Check out his website
• 1:27:44
  Speaker 1: Defenders of Capitalism dot com if you're interested at all
• 1:27:46
  Speaker 1: in capitalism. Uh and uh? Who have I missed? I
• 1:27:52
  Speaker 1: missed Alex al Epstein Epstein, Alex Epstein, who is of
• 1:27:57
  Speaker 1: course the world of authority on all things related to power, energy, electricity,
• 1:28:04
  Speaker 1: fossil fuels. Check him out. Alex Epstein, Alex Epstein substack
• 1:28:11
  Speaker 1: dot com. Alex Epstein substack dot com. All right, let's
• 1:28:16
  Speaker 1: move to your questions and see you see see what happens.
• 1:28:23
  Speaker 1: But don't forget. You can still ask while I'm answering,
• 1:28:26
  Speaker 1: and you can ask about anything, whether I covet it
• 1:28:32
  Speaker 1: today or not. And uh yeah.
• 1:28:38
  Speaker 2: Michael.
• 1:28:39
  Speaker 1: Oh, by the way, thank you David again for another sticker.
• 1:28:43
  Speaker 1: Thank you, David, very generous. Keep the stickers coming, guys.
• 1:28:48
  Speaker 1: It's an easy way to support the show. Enrick, thank you,
• 1:28:52
  Speaker 1: and you you Ticus, thank you for the gifting. Thank
• 1:28:59
  Speaker 1: you for the for gifting some memberships. That's another way
• 1:29:03
  Speaker 1: to support the show or is the gift membership? So
• 1:29:05
  Speaker 1: become a member, Lincoln, Thank you, David again, thank you,
• 1:29:09
  Speaker 1: a DF thank you, and Tom?
• 1:29:14
  Speaker 2: Who else do we have?
• 1:29:15
  Speaker 1: David again? No?
• 1:29:18
  Speaker 2: What am I doing?
• 1:29:18
  Speaker 1: All right, let's go all the way up here.
• 1:29:21
  Speaker 2: I think I've got everybody all right. If I missed you,
• 1:29:25
  Speaker 2: thank you anyway.
• 1:29:26
  Speaker 1: I really appreciate it, all right, Michael, Fascism has a
• 1:29:30
  Speaker 1: whole theory of the good and why it does what
• 1:29:34
  Speaker 1: it does.
• 1:29:34
  Speaker 2: Trump is not that.
• 1:29:36
  Speaker 1: Absolutely, He's just a guy with a club. He doesn't
• 1:29:41
  Speaker 1: have any theory. He just says whatever to get what
• 1:29:45
  Speaker 1: he wants today. Vance has theories Trump does not. Yes, absolutely,
• 1:29:50
  Speaker 1: you know. Vance is a you know, much more theocratic
• 1:29:55
  Speaker 1: Vance as a whole ideology based on post liberal writings.
• 1:30:00
  Speaker 1: Dvance is committed to kind of a an integralist maybe
• 1:30:03
  Speaker 1: integolist light. Maybe he's not quite willing to go all
• 1:30:06
  Speaker 1: the way common good conservatism, I mean, common good constitutionalism.
• 1:30:11
  Speaker 1: Vance is definitely the more intellectual, theoretical, committed guy.
• 1:30:15
  Speaker 2: It's why I've told you.
• 1:30:18
  Speaker 1: For months, if not years, that he's more dangerous than
• 1:30:22
  Speaker 1: Trump is. Trump is dangerous because he's a he's a
• 1:30:25
  Speaker 1: thug with a club, and he's breaking stuff, and and
• 1:30:29
  Speaker 1: he could break enough stuff that it's not repaarable. It's
• 1:30:35
  Speaker 1: not repearable.
• 1:30:36
  Speaker 2: That's the danger with Trump, that he sets it up
• 1:30:39
  Speaker 2: so that you can't repair it.
• 1:30:41
  Speaker 1: Uh and and UH. Therefore we elect an authoritarian as
• 1:30:45
  Speaker 1: the as the only out, and it could be it
• 1:30:49
  Speaker 1: could be in that sense, a leftist authoritarian.
• 1:30:53
  Speaker 2: So we are going to get an authoritarian out of this.
• 1:30:57
  Speaker 2: I think I fear rationally P.
• 1:31:01
  Speaker 1: Fifty dollars or sixty dollars. It's actually fifty sixty UO
• 1:31:05
  Speaker 1: sixty US, so seventy dollars, Thank you, RATIONALLYP. My doctor
• 1:31:09
  Speaker 1: refuses to prescribe antibiotics due to guidelines.
• 1:31:13
  Speaker 2: What my previous doctor did and it helped.
• 1:31:16
  Speaker 1: I'm obviously willing to follow medical advice, but I'm troubled
• 1:31:19
  Speaker 1: by the government restrictions.
• 1:31:21
  Speaker 2: What I can and can't take to help me medically.
• 1:31:24
  Speaker 1: Yeah. Absolutely, Again, the government shouldn't be involved. I mean,
• 1:31:29
  Speaker 1: I understand that some medical authority, you know, Doctor's Federation
• 1:31:35
  Speaker 1: or something, could come out and say, look, you guys
• 1:31:39
  Speaker 1: oversubscribing antibiotics and this is making antibiotics generally less effective.
• 1:31:45
  Speaker 1: Doctors should really think twice about subscribing antibotics and only
• 1:31:48
  Speaker 1: use antibiotics when they're needed, really needed. But it's not
• 1:31:52
  Speaker 1: the government's job to do that. Government is not there
• 1:31:56
  Speaker 1: to police our use of drugs. That is not there
• 1:31:59
  Speaker 1: to demize the use of I don't know any biotics
• 1:32:03
  Speaker 1: or any other drug in the con in our health
• 1:32:06
  Speaker 1: care system. It shouldn't be involved in health care. There
• 1:32:09
  Speaker 1: should be government separation between the government in health care.
• 1:32:13
  Speaker 1: Government has no role in health care, not in fruit pyramids,
• 1:32:16
  Speaker 1: not in subsidy angine farming, and not in dictating what
• 1:32:20
  Speaker 1: treatments are okay and what treatments are not. That should
• 1:32:22
  Speaker 1: be between you and your doctor and maybe many doctors.
• 1:32:25
  Speaker 1: Maybe you want second, third, fourth opinions, but it should
• 1:32:28
  Speaker 1: be up to you, not up to the government. Thomas,
• 1:32:37
  Speaker 1: is it possible to dramatically lower housing prices by allowing
• 1:32:40
  Speaker 1: huge amounts of building without wiping on millions billions of
• 1:32:44
  Speaker 1: dollars of equity that existing homeowners currently have. Well, probably not,
• 1:32:49
  Speaker 1: but wiping that equity is good. I mean, the reality
• 1:32:53
  Speaker 1: is that housing is not a wealth producing asset. Housing
• 1:32:59
  Speaker 1: prices should not be going up. People should stop viewing
• 1:33:03
  Speaker 1: houses as investments. They should now view housing as where
• 1:33:07
  Speaker 1: you stash your savings. Housing is a consumption good, and
• 1:33:13
  Speaker 1: as a consumption good should if the market was functioning
• 1:33:17
  Speaker 1: properly without coming into vention, housing value should go down
• 1:33:23
  Speaker 1: in most places unless there's some extraordinary demand for the
• 1:33:27
  Speaker 1: particular place in which you live in. Supply has not
• 1:33:29
  Speaker 1: matched it yet. So it's just like you buy a
• 1:33:34
  Speaker 1: car automobile. You don't expect the value to go up
• 1:33:37
  Speaker 1: over time, expect to go down over time. And that
• 1:33:40
  Speaker 1: could be that you buy a rare model that is
• 1:33:43
  Speaker 1: unique and it actually goes up in time because people
• 1:33:47
  Speaker 1: really really want this model and there are very few
• 1:33:49
  Speaker 1: of them, and demand, you know, outstrip supply. Same thing
• 1:33:54
  Speaker 1: with housing, unless you're in a unique location or it's
• 1:33:57
  Speaker 1: a unique house, it's something extraordinary thing really really different. Yeah,
• 1:34:06
  Speaker 1: you know, the reality is that house prices should not
• 1:34:11
  Speaker 1: go up, they should go down, and the fact that
• 1:34:14
  Speaker 1: people have a lot of equity in those houses tough.
• 1:34:18
  Speaker 1: I mean, it might very well be that if we
• 1:34:20
  Speaker 1: had lesser fake capitalism, some stock prices would go down
• 1:34:30
  Speaker 1: because they'd stop being cronies of the government. Some companies
• 1:34:33
  Speaker 1: would go bust. Could they stop getting subsidies? That's good,
• 1:34:36
  Speaker 1: I mean in a sense by not allowing housing, we
• 1:34:40
  Speaker 1: are subsidizing existing homeowners at the expense of future homeowners
• 1:34:46
  Speaker 1: or at the expensive you who'd like to own home.
• 1:34:49
  Speaker 1: Not good for anybody, by the way. We talked about
• 1:34:53
  Speaker 1: this yesterday a little bit. But the reality is that
• 1:34:56
  Speaker 1: a lot of people, because of the way housing is
• 1:34:58
  Speaker 1: taxed and priced, live in homes that they shouldn't live in.
• 1:35:04
  Speaker 1: A lot of people stay in neighborhoods after you know,
• 1:35:07
  Speaker 1: they have really good educational systems, but they don't, you know,
• 1:35:11
  Speaker 1: but the kids are growing up and they they live
• 1:35:14
  Speaker 1: in they stay in big homes, even though they'd be
• 1:35:17
  Speaker 1: happier in small homes, because they don't want to sell
• 1:35:19
  Speaker 1: because there's capital gains taxes and because of the you know,
• 1:35:26
  Speaker 1: the mortgage is basically subsidized and so much about and
• 1:35:31
  Speaker 1: prices go up all the time, so it's a great investment,
• 1:35:35
  Speaker 1: so why leave.
• 1:35:40
  Speaker 2: But that's all distortions, that's all perversions.
• 1:35:44
  Speaker 1: Robert props from five Minutes with Robert and Amy Nasser. Sorry,
• 1:35:53
  Speaker 1: fewer super chats lately. I'm cash shy. This month, my
• 1:35:57
  Speaker 1: daughter just bought her first house and dad helped a bit.
• 1:36:01
  Speaker 1: That's nice.
• 1:36:02
  Speaker 2: Still a multi supporter. Thanks for what you do. Appreciate
• 1:36:06
  Speaker 2: the support, Robert.
• 1:36:07
  Speaker 1: I don't keep track of you guys, so I don't
• 1:36:10
  Speaker 1: actually know when you're dipping off a little bit, when
• 1:36:13
  Speaker 1: you're increasing a little bit. I appreciate everything all of
• 1:36:18
  Speaker 1: you guys do, at whatever level you actually do it.
• 1:36:23
  Speaker 2: All right, here's one from yesterday.
• 1:36:25
  Speaker 1: I left over from yesterday that came in just after
• 1:36:27
  Speaker 1: I shut down the show, and that's Lincoln saying, can't
• 1:36:30
  Speaker 1: wait to visit Jerusalem and Tel AVIVN twenty twenty six
• 1:36:33
  Speaker 1: with some liberty minded students on campus in the summer.
• 1:36:36
  Speaker 2: That sounds amazing. You know, what is the what is
• 1:36:40
  Speaker 2: the program that you're going in?
• 1:36:42
  Speaker 1: What context does this? And you should definitely meet up
• 1:36:44
  Speaker 1: with the objectivists in Israel when you go. Remo thoughts
• 1:36:52
  Speaker 1: on the idea of fasting improving your a tough, fuggy
• 1:36:59
  Speaker 1: fuggy something like that, because currently I'm reading Peter a Tea,
• 1:37:04
  Speaker 1: I mean a teas is anti fasting ultimately is my
• 1:37:08
  Speaker 1: understanding because it reduces your It reduces muscle. You know,
• 1:37:17
  Speaker 1: to grow muscle, you need constant you need a constant
• 1:37:21
  Speaker 1: input of protein. So he is more recently turned away
• 1:37:27
  Speaker 1: from fasting. I don't know.
• 1:37:30
  Speaker 2: Look, I can't fast. I hate fasting.
• 1:37:33
  Speaker 1: I break.
• 1:37:34
  Speaker 2: I just can't do it.
• 1:37:35
  Speaker 1: It's not you know, I'm weak when it comes to
• 1:37:38
  Speaker 1: food and I get hungry. I get brain fog when
• 1:37:42
  Speaker 1: I get hungry, I can't think. People say, if you
• 1:37:44
  Speaker 1: last long enough, you get sharper. Never happened to me.
• 1:37:47
  Speaker 1: I've never gotten sharper by not eating. Eating is essential
• 1:37:51
  Speaker 1: to life, so I never fast. I mean I eat
• 1:37:56
  Speaker 1: relatively early in the evening, so I don't eat much
• 1:37:58
  Speaker 1: before bad so three hours before bedtime I usually don't
• 1:38:01
  Speaker 1: eat and then but I eat in the morning about
• 1:38:05
  Speaker 1: an hour after I wake up. So I don't do
• 1:38:06
  Speaker 1: sixteen hours. I probably do closer to fourteen hours, or
• 1:38:10
  Speaker 1: you know, twelve to fourteen hours. But yeah, I don't know.
• 1:38:15
  Speaker 1: I mean you have to ask a real scientist, and
• 1:38:18
  Speaker 1: I shouldn't have an opinion, and that I shouldn't be
• 1:38:20
  Speaker 1: giving you advice and stuff like that.
• 1:38:23
  Speaker 2: All right, let's see.
• 1:38:26
  Speaker 1: Remo also says, do you have a special workout routine
• 1:38:29
  Speaker 1: while traveling? No, I mean it's basically the same workout routine.
• 1:38:32
  Speaker 1: I try to extend it into travel when I can,
• 1:38:35
  Speaker 1: So if I have early morning flights, I don't work out,
• 1:38:40
  Speaker 1: so I you know, I usually go to the gym
• 1:38:42
  Speaker 1: at my hotel. Hotels I stay at almost always have gyms,
• 1:38:45
  Speaker 1: pretty nice gyms, actually nicer than what I have at
• 1:38:47
  Speaker 1: home or in my building, and I work out. I
• 1:38:52
  Speaker 1: do the same kind of routines I do here. I
• 1:38:54
  Speaker 1: lift weights, and I do the elliptical for my zone too,
• 1:38:58
  Speaker 1: and my Norwegian full by for my high intensity workouts.
• 1:39:04
  Speaker 1: So I do a mixture of all of those when
• 1:39:07
  Speaker 1: I'm traveling. But the reality is that a lot of
• 1:39:10
  Speaker 1: times when I'm traveling, I'm just too tired. I need
• 1:39:13
  Speaker 1: to sleep in because I'm sleep deprived because of the
• 1:39:17
  Speaker 1: flights and because of the changing time zones. So I
• 1:39:21
  Speaker 1: just sleep in rather than working out. That's just the reality.
• 1:39:25
  Speaker 1: It's part of the price you pay for traveling, is
• 1:39:27
  Speaker 1: that you just don't exercise as much. I walk more
• 1:39:30
  Speaker 1: when I'm traveling, so I do most steps. I don't
• 1:39:32
  Speaker 1: do a lot of steps here in Puerto Rico. I'm
• 1:39:35
  Speaker 1: pretty much at home. When I'm in Puerto Rico, I exercise,
• 1:39:38
  Speaker 1: but I don't do a lot of walk just straight walking.
• 1:39:41
  Speaker 1: When I travel, I walk a lot through airports, through
• 1:39:43
  Speaker 1: city streets, but a lot through airports, so that compensates
• 1:39:47
  Speaker 1: a little bit for the fact that I do less
• 1:39:49
  Speaker 1: working out. Kim, is there a hell? If there is
• 1:39:55
  Speaker 1: a hell, John Dewey, is there? I hope, so, I hope.
• 1:40:00
  Speaker 1: So if there's a rational hell, then he is. Who
• 1:40:03
  Speaker 1: knows what hell is like? Okay, Remo wants me to
• 1:40:06
  Speaker 1: pronounce Nikos's family name. I'm going to take a shot
• 1:40:09
  Speaker 1: at it. But I probably didn't learn reading through phonics.
• 1:40:13
  Speaker 1: I probably learned to site.
• 1:40:14
  Speaker 2: See. That's why this is so hard for me.
• 1:40:17
  Speaker 1: So t rockco Pulus, Soku up, t Rockapulus.
• 1:40:28
  Speaker 2: Best I can do.
• 1:40:29
  Speaker 1: Sorry, Nikos, I apologize for that, and I Remo, I'm
• 1:40:35
  Speaker 1: not sure what you actually gained by that, but there
• 1:40:36
  Speaker 1: we have it. Ryan says, there's no free lunch. There
• 1:40:40
  Speaker 1: isn't a free lunch. Somebody pays always. The money has
• 1:40:43
  Speaker 1: to come from somewhere. We talked about that yesterday. That's
• 1:40:45
  Speaker 1: a quote from Milton Friedman. No free lunch, Ryan. The
• 1:40:48
  Speaker 1: cure's task of economics is to demonstrate to men how
• 1:40:52
  Speaker 1: little they really know about what they imagine they can design. Hayek,
• 1:40:57
  Speaker 1: that is a really, really bad quote, as competed to
• 1:41:00
  Speaker 1: Milton Friedman quote, because you know, think of how much
• 1:41:07
  Speaker 1: I mean design in what realm? But think about Apple
• 1:41:11
  Speaker 1: design and Google design and plan and all of that.
• 1:41:16
  Speaker 1: So it's you have to separate the realm of kind
• 1:41:20
  Speaker 1: of the private sector and the realm of government. There's
• 1:41:22
  Speaker 1: a fundamental difference between planning and designing in each one
• 1:41:25
  Speaker 1: of those realms and how they work. It's not design
• 1:41:29
  Speaker 1: that's a problem. Hayak has a lot of problems in
• 1:41:34
  Speaker 1: the way he thinks about this. You've used reason as
• 1:41:36
  Speaker 1: a problem, and design is a problem. We don't have
• 1:41:39
  Speaker 1: enough reason and we don't have a capacity to design
• 1:41:42
  Speaker 1: just the same thing. But it's both wrong. It's the
• 1:41:46
  Speaker 1: fact that you cannot make choices for other people, the
• 1:41:49
  Speaker 1: fact that you cannot choose values for other people. You
• 1:41:52
  Speaker 1: cannot decide what's good or bad for other people.
• 1:41:55
  Speaker 2: It's not a question of.
• 1:41:57
  Speaker 1: You know how much you can think, or how much
• 1:42:01
  Speaker 1: you can know, or how much you can design.
• 1:42:07
  Speaker 2: Lincoln.
• 1:42:08
  Speaker 1: Contrary to conservative myth, New York City and San Francisco
• 1:42:10
  Speaker 1: are safe places to live if you can afford to
• 1:42:13
  Speaker 1: live in a decent area. Yes, actually very safe places
• 1:42:16
  Speaker 1: to live, particularly in New York City. It's one of
• 1:42:18
  Speaker 1: the safest places in the country. It's safer than in
• 1:42:21
  Speaker 1: a lot of rural areas and suburban areas. It's Yeah, sadly,
• 1:42:27
  Speaker 1: there's a lot of mythology around these things. Robert making
• 1:42:31
  Speaker 1: all mistake. Forcing every job to pay an arbitrary living
• 1:42:35
  Speaker 1: wage means eliminating many entry level jobs, eliminating opportunities. Yeah,
• 1:42:39
  Speaker 1: it's a minimum wage to destroy jobs, which is what
• 1:42:42
  Speaker 1: minimum wages do.
• 1:42:43
  Speaker 2: All kinds of minimal wages destroy jobs.
• 1:42:49
  Speaker 1: Jean, my friend was fired from teaching for refusing to
• 1:42:52
  Speaker 1: pass as fourth graders.
• 1:42:54
  Speaker 2: I mean, that's pathetic, sad, horrible, Eddie.
• 1:43:00
  Speaker 1: Any thoughts on Mike Green's thesis that passive investing is
• 1:43:05
  Speaker 1: distorting the market.
• 1:43:06
  Speaker 2: Yeah, I mean I think he's He's wrong. That is,
• 1:43:11
  Speaker 2: the reality is.
• 1:43:13
  Speaker 1: That it is marginal investors who descerb prices. Passive investors
• 1:43:17
  Speaker 1: are not the marginal investor. Passive investors just followers. And
• 1:43:25
  Speaker 1: you know, you don't need a lot of marginal investors
• 1:43:27
  Speaker 1: to move prices to where they need to be, to
• 1:43:30
  Speaker 1: move prices to reflect the best information available. So no,
• 1:43:34
  Speaker 1: I don't think it's passive investing, and the passive investing
• 1:43:38
  Speaker 1: is the best way to invest. To invest for most
• 1:43:44
  Speaker 1: of us is the best way to invest money. And
• 1:43:46
  Speaker 1: let the professionals, the people who know what they're doing,
• 1:43:49
  Speaker 1: do the active investing and the moving of prices. You
• 1:43:54
  Speaker 1: should not be in the business of moving prices because
• 1:43:58
  Speaker 1: you don't know enough, so let the.
• 1:44:00
  Speaker 2: Pros do it.
• 1:44:04
  Speaker 1: So No, I don't think that's true, and I don't
• 1:44:08
  Speaker 1: know that markets are that distorted. I mean, passive investing
• 1:44:13
  Speaker 1: is not what's driving up in Vidia stock. What's driving
• 1:44:16
  Speaker 1: up in VideA is the hoop ala and all the
• 1:44:19
  Speaker 1: excitement and people who think they know that in video
• 1:44:21
  Speaker 1: is worth this amount and a buying And you can
• 1:44:25
  Speaker 1: see how information new information causes prices to change very quickly.
• 1:44:31
  Speaker 1: That's not passive investors. That's active investors moving stock prices quickly. Lincoln,
• 1:44:39
  Speaker 1: I'd love to see a breakdown of colleges by percent
• 1:44:42
  Speaker 1: of degrees that are STEM and business related. There probably
• 1:44:48
  Speaker 1: is such a breakdown. I wouldn't be surprised if you
• 1:44:50
  Speaker 1: can find it. Ian Yuran, you should ask the audience
• 1:44:56
  Speaker 1: a question. Super chat answers only ida right, I need
• 1:45:02
  Speaker 1: to have a good question and the truth of your
• 1:45:06
  Speaker 1: answer is determined by how much money you put on it.
• 1:45:11
  Speaker 1: All right, Ian says there's a huge mechanic shortage in aviation, too,
• 1:45:16
  Speaker 1: huge regulation burden that makes companent people apprentices for years
• 1:45:22
  Speaker 1: and makes them feel like they can never be trusted.
• 1:45:24
  Speaker 2: Well, that's sad, but yeah, I'm not surprised.
• 1:45:27
  Speaker 1: I mean, a lot of these blue collar jobs that
• 1:45:29
  Speaker 1: pay a lot of money, but a heavily regulated, heavily controlled,
• 1:45:33
  Speaker 1: and have you know, in the culture a negative appreciation
• 1:45:39
  Speaker 1: for them. You know, there's a lot of jobs there,
• 1:45:47
  Speaker 1: and we don't train people for those jobs. We don't
• 1:45:49
  Speaker 1: inspire people with those jobs. Lincoln is on a roll
• 1:45:52
  Speaker 1: the last few days. He's asking a ton of super chats.
• 1:45:55
  Speaker 1: You want to sense a super chat at the end
• 1:45:56
  Speaker 1: of last show, Can you pull that up and respond
• 1:45:59
  Speaker 1: to it? I did already The Oceanist, how you on?
• 1:46:03
  Speaker 1: I saw your Stitch and Adam appearance yesterday. I thought
• 1:46:06
  Speaker 1: you did great. They both said they'd love to have
• 1:46:10
  Speaker 1: you back on sometime to get more into objectivism and
• 1:46:12
  Speaker 1: economic topics. That'd be great, Happy to go back on
• 1:46:15
  Speaker 1: the show. I didn't get a lot of new subscribers
• 1:46:17
  Speaker 1: from it. I was surprised because there were four hundred
• 1:46:20
  Speaker 1: people watching live and a bunch of people watching afterwards,
• 1:46:23
  Speaker 1: and didn't get a lot of people subscribing to my show,
• 1:46:28
  Speaker 1: which is ultimately the goal of going on other people shows.
• 1:46:31
  Speaker 1: So it's a little disappointed by that. You got a
• 1:46:33
  Speaker 1: little bit of a bump in subscriptions today, not yesterday,
• 1:46:36
  Speaker 1: but today. Maybe that's because delayed from the Stitch and
• 1:46:42
  Speaker 1: Atoms but Adam, but you know, I don't. We'll see.
• 1:46:45
  Speaker 1: Who knows. Yeah.
• 1:46:46
  Speaker 2: I enjoyed it though, and I will definitely go back.
• 1:46:51
  Speaker 2: Jennifer Sais.
• 1:46:51
  Speaker 1: Walt Disney designed Disneyland because he thought it would be
• 1:46:55
  Speaker 1: a cool place to go. Many people around him told
• 1:46:59
  Speaker 1: him he was easy. Turns out many others agreed with him,
• 1:47:03
  Speaker 1: and the rest is history. Yeah. Absolutely, I mean the
• 1:47:06
  Speaker 1: reality is entrepreneurs design stuff all the time, including cities,
• 1:47:09
  Speaker 1: including places. You know, there's a big difference between doing
• 1:47:14
  Speaker 1: stuff as an entrepreneur and designing where your fundamental relationship
• 1:47:19
  Speaker 1: with everybody around you is voluntary, is noncursive, versus a
• 1:47:25
  Speaker 1: government designing stuff where your funda mental relationship with everybody
• 1:47:29
  Speaker 1: around you is coursive. That makes a big difference in
• 1:47:36
  Speaker 1: the consequence of the design Sandy said, great to meet
• 1:47:40
  Speaker 1: you in Colorado, Sandy.
• 1:47:42
  Speaker 2: Great to meet you.
• 1:47:43
  Speaker 1: I'm glad, I'm glad you had a chance to come
• 1:47:48
  Speaker 1: to my talk. Adam. The introduction of index funds in
• 1:47:54
  Speaker 1: the seventies is to personal finance what the chlorination of
• 1:47:57
  Speaker 1: water was the public health thoughts. Uh, yeah, well assume
• 1:48:03
  Speaker 1: your view colination is a good thing. Yeah, it's it's
• 1:48:05
  Speaker 1: a miraculous thing. I mean, it's it. It really allowed
• 1:48:08
  Speaker 1: people that are very very very very low cost. Index
• 1:48:13
  Speaker 1: funds are very cheap, cheap for the investor to participate
• 1:48:19
  Speaker 1: in the stock market and to participate in the dramatic
• 1:48:23
  Speaker 1: increase in stock market valuations over the last you know,
• 1:48:27
  Speaker 1: forty years, and to participate without having to become an
• 1:48:31
  Speaker 1: expert on stocks whatever it having to gain the knowledge,
• 1:48:34
  Speaker 1: just the general knowledge that the US is a good
• 1:48:37
  Speaker 1: generally a good place, good place to invest, the good,
• 1:48:40
  Speaker 1: good economy, and as a consequence, things will go up
• 1:48:44
  Speaker 1: because things keep getting better. And as long as that happens,
• 1:48:48
  Speaker 1: indexing is fantastic, and it allows people to specialize. It
• 1:48:52
  Speaker 1: allows people to do the thing they're really really good
• 1:48:55
  Speaker 1: at and let other people determine prices in the stock market.
• 1:48:59
  Speaker 1: So yeah, I don't know about the particular metaphor, but
• 1:49:04
  Speaker 1: it's a huge benefit to humanity. Lincoln says. It's a
• 1:49:09
  Speaker 1: program called Homeland that allows Jewish students to visit Israel
• 1:49:13
  Speaker 1: once in the summer for free. I'm not Jewish, but
• 1:49:17
  Speaker 1: I still get a reduced rate for being a student. Okay, cool,
• 1:49:21
  Speaker 1: that's cool. You should definitely get together with the local
• 1:49:23
  Speaker 1: objectivist there when you're there, so let me know when
• 1:49:25
  Speaker 1: you're going. Lincoln continues to say, ironically, I'm a finance
• 1:49:30
  Speaker 1: and law double major, yet not Jewish, which certainly puts
• 1:49:33
  Speaker 1: me in the minority.
• 1:49:35
  Speaker 2: That's funny.
• 1:49:37
  Speaker 1: Cool, Thank you Lincoln for asking all those questions. Thank
• 1:49:41
  Speaker 1: you to all the other super chatters. Really really really
• 1:49:44
  Speaker 1: really really appreciate it. And I will see you guys.
• 1:49:49
  Speaker 1: I'm not sure when I will try to do a
• 1:49:51
  Speaker 1: show over the weekend if I have time, but I
• 1:49:54
  Speaker 1: right now my schedule is stacked and I just don't
• 1:49:57
  Speaker 1: I don't think we'll have time. So Thursday, Friday, Saturday,
• 1:50:01
  Speaker 1: Sunday four days without a show. Monday, I'll try to
• 1:50:04
  Speaker 1: do one in the evening after a fly A fly home,
• 1:50:07
  Speaker 1: and I'll try to do one in the evening but
• 1:50:10
  Speaker 1: the next four days there'll be no shows, so I'm
• 1:50:12
  Speaker 1: preparing you for that withdrawal syndrome. I know many of
• 1:50:15
  Speaker 1: you go through You're on Brooks Show withdrawal syndrome. Hopefully
• 1:50:20
  Speaker 1: there'll be no news during the next four days, so
• 1:50:22
  Speaker 1: there'll be no big deal, no big glass. I will
• 1:50:25
  Speaker 1: see you all, probably Monday, maybe before, but most likely
• 1:50:29
  Speaker 1: on Monday. Bye, everybody, have a great weekend, have a
• 1:50:33
  Speaker 1: great rest of the weekend, Have a great weekend. Bye.