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TACO; Rare Earth; Golden Age; FISA; DEGrowth; Milei; Achievement | Yaron Brook Show · Yaron Brook Show

• 0:02
  Speaker 1: A lot of them, fundamental ristles of Wiedom, rational self
• 0:10
  Speaker 1: and an individual lots.
• 0:14
  Speaker 2: This is the show, all right, everybody, welcome, Welcome to
• 0:22
  Speaker 2: your one book show on this those day, June eleventh.
• 0:27
  Speaker 1: I hope everybody's having a a good week. Yeah, so, uh,
• 0:36
  Speaker 1: what's what is there to be surprised? Taco? Trump strikes again,
• 0:43
  Speaker 1: strikes again. So this morning there was a lot of
• 0:47
  Speaker 1: talk about We're gonna hit them really really hard today tonight,
• 0:53
  Speaker 1: We're really gonna go after the a Indians. We're gonna
• 0:55
  Speaker 1: hit them out. He even said that he declared that
• 0:59
  Speaker 1: the US will sees Cog Island from the Uranians, so
• 1:05
  Speaker 1: the Corg Island is where they have all their explore depots,
• 1:07
  Speaker 1: and then we would seize the oil and gas and
• 1:10
  Speaker 1: the United States would control the oil and gas. And
• 1:13
  Speaker 1: I mean he was putting boots on the ground, he
• 1:17
  Speaker 1: was taking war seriously, and that yes, that the uh
• 1:25
  Speaker 1: that the United States was going to massively attack attack
• 1:32
  Speaker 1: Trump And then, unsurprising to anybody, I think it was
• 1:39
  Speaker 1: on this afternoon he declared, Nope, it's off. The attack
• 1:43
  Speaker 1: is off. The Uanians have agreed to all of my demands.
• 1:46
  Speaker 1: There was a there was a there was an agreement.
• 1:50
  Speaker 1: The agreement has been approved by the monkey MUCKs, the
• 1:55
  Speaker 1: higher ups in Iran and uh, you know the this
• 2:00
  Speaker 1: is a done deal. He just a little while ago
• 2:04
  Speaker 1: said and kind of talking to the press, he said,
• 2:06
  Speaker 1: we could be signing over the weekend in Europe. I
• 2:08
  Speaker 1: won't be able to be there, but jade Vans will
• 2:10
  Speaker 1: be there. Uh and uh and yeah, you know, it's
• 2:14
  Speaker 1: a deal. It's it's a done deal. Now. A little
• 2:23
  Speaker 1: while after that, the Iranian media said, no, there's no deal.
• 2:28
  Speaker 1: We don't know anything about this. What's he's talking about?
• 2:30
  Speaker 1: Usual Trump? But then and this is maybe where this
• 2:35
  Speaker 1: is going to be different than the past and Scaria
• 2:40
  Speaker 1: and then the Iranians came back and said, actually, Trump
• 2:48
  Speaker 1: has basically agreed to everything we demanded. Uh, well, we
• 2:53
  Speaker 1: demanded in past sessions that he had not agreed to
• 2:57
  Speaker 1: and and and submitted accountant proposal that we cannot approve.
• 3:01
  Speaker 1: And that's why for two weeks we haven't been talking
• 3:03
  Speaker 1: to him because we're not going to prove any of
• 3:05
  Speaker 1: that he agreed to. The proposal was a bit of
• 3:08
  Speaker 1: two weeks ago. And he's basically given us everything we want,
• 3:15
  Speaker 1: and we Indeed, the story is that indeed, the the Iranians,
• 3:25
  Speaker 1: you know, are going to sign the deal, and there
• 3:27
  Speaker 1: is a deal with the United States. Now, whether the
• 3:31
  Speaker 1: Ranians are agreeing to the same deal Trump really thinks
• 3:35
  Speaker 1: he's agreeing to God only knows, but well maybe even
• 3:41
  Speaker 1: God doesn't know. But the reality is if the Ranians
• 3:46
  Speaker 1: agreeing to it, it can be a good deal. It's
• 3:48
  Speaker 1: an awful deal. It's going to be a disaster. So
• 3:52
  Speaker 1: everybody's waiting to see what exactly in this, but one
• 3:56
  Speaker 1: would expect it will have very, very very loose statements
• 4:01
  Speaker 1: about the nuclear program, maybe ten years, the same as Obama,
• 4:07
  Speaker 1: but nothing really committed to be negotiated in the future.
• 4:11
  Speaker 1: It's likely to include a complete cease fire in Lebanon,
• 4:16
  Speaker 1: so Israel standing down. I don't see how Israel can
• 4:21
  Speaker 1: agree to that, but Israel completely standing down in Lebanon,
• 4:26
  Speaker 1: and is likely to include the unfreezing of assets immediately,
• 4:32
  Speaker 1: because uan that was basically the peac conditioned for any
• 4:35
  Speaker 1: any deal was the unfreezing of assets and the media
• 4:40
  Speaker 1: transfer funds into Iranian hands. So it really looks like
• 4:48
  Speaker 1: complete American capitulation here, complete Trump capitulation. He was spin
• 4:53
  Speaker 1: this as the greatest deal ever. But yeah, I mean,
• 4:58
  Speaker 1: I think the bottom line is he was told that
• 5:02
  Speaker 1: the war is unpopular, it's hurting America, it's hurting the
• 5:06
  Speaker 1: Republicans for the midterms. He saw, you know, the stock
• 5:10
  Speaker 1: market yesterday didn't do well, it was kind of flat earlier.
• 5:14
  Speaker 1: I mean, one of the main things amazing things to
• 5:16
  Speaker 1: me is the extent to which the market, stock market
• 5:21
  Speaker 1: and bond market love the idea of a deal, love
• 5:27
  Speaker 1: the idea of a deal. As soon as this was announced,
• 5:32
  Speaker 1: as soon as he announced that there was a deal,
• 5:35
  Speaker 1: all the indexes were up, inches, straights were down, all
• 5:40
  Speaker 1: prices went from ninety one to eighty seven, a huge
• 5:43
  Speaker 1: decline in one day. And you know, it's we will
• 5:58
  Speaker 1: see now what happens. We will nowtter what happens. But
• 6:02
  Speaker 1: the markets, the markets really want this deal, and I
• 6:07
  Speaker 1: wouldn't be surprised if that ultimately what's swayed Trump. So
• 6:12
  Speaker 1: we will see exactly what happens. We will see if
• 6:17
  Speaker 1: any of this is based on reality. But it does
• 6:19
  Speaker 1: seem like it does seem like the Iranians are ready
• 6:27
  Speaker 1: to sign a deal. And my guess I might be wrong,
• 6:31
  Speaker 1: but I doubt it is that they're willing to sign
• 6:34
  Speaker 1: the deal because the deal, because the deal is really
• 6:38
  Speaker 1: really really really really good for them, and that means
• 6:41
  Speaker 1: it's really really really really bad for us. These Raelis
• 6:46
  Speaker 1: are really kind of in shock. These Raelis are basically
• 6:52
  Speaker 1: Nianio was in a meeting when this happened. He hadn't
• 6:54
  Speaker 1: heard any of it. He wasn't consulted or told about it.
• 6:59
  Speaker 1: And uh, it's I think these releas are in a
• 7:02
  Speaker 1: bit of a panic mode right now, uh, and trying
• 7:07
  Speaker 1: to figure out what this means for them and whether
• 7:12
  Speaker 1: this is whether this is uh, this is real. I'm
• 7:16
  Speaker 1: just looking at some Israeli news sources. Yeah, I mean
• 7:25
  Speaker 1: the the Iranian news service is saying there's a high
• 7:28
  Speaker 1: chance that the deal will be approved. This is the
• 7:31
  Speaker 1: first time the Ranians have been positive about a deal,
• 7:35
  Speaker 1: first time the Ranians have been positive about a deal.
• 7:40
  Speaker 1: It looks like Trump and Itanao have spoken this afternoon,
• 7:47
  Speaker 1: you know, after this was announced by two social That
• 7:51
  Speaker 1: is always the first thing that happens. Trump is saying
• 8:00
  Speaker 1: the Disapine lead ever Uan has approved the deal. But again,
• 8:06
  Speaker 1: the Iranians are saying, this is not the deal, This
• 8:08
  Speaker 1: is not what America proposed. This is the deal pre
• 8:13
  Speaker 1: US changes to it. This is the deal that was
• 8:18
  Speaker 1: originally proposed by the Iran Let's see again. It's hard
• 8:32
  Speaker 1: to tell exactly what's going on because, uh, you know, foss,
• 8:40
  Speaker 1: the the the the the Iranian news agency now is
• 8:43
  Speaker 1: saying there is no deal yet. It's not final. We
• 8:47
  Speaker 1: haven't finalized that here in Iran. Don't pay attention to
• 8:50
  Speaker 1: what Trump was saying. But this is taco. This is
• 8:55
  Speaker 1: uh what what is taco mean? Uh? Ump always you know, uh,
• 9:06
  Speaker 1: coward cows out right? Is that it? He always he
• 9:11
  Speaker 1: always finds a way to back off of what he
• 9:15
  Speaker 1: said he would do our out of cowardice, out of
• 9:19
  Speaker 1: coward ass right. Chickens out. Sorry, Trump always chickens out.
• 9:24
  Speaker 1: Same thing. Trump always chickens out, And he clearly is
• 9:27
  Speaker 1: chicken out now, several times, over and over and over
• 9:30
  Speaker 1: again from this wall, from this wall. Don't know, it's
• 9:39
  Speaker 1: hard to you know, I've said this over and over again,
• 9:42
  Speaker 1: so maybe tell me if this is over the repetitive.
• 9:46
  Speaker 1: But it's hard to express just how dumb this is.
• 9:52
  Speaker 1: It's hard to express how you know, bad for America
• 9:57
  Speaker 1: and and and and bad for America and allies in
• 10:01
  Speaker 1: the Gulf and Israel. It's hard to express how close
• 10:06
  Speaker 1: we were for a good outcome, and how Trump's behavior
• 10:09
  Speaker 1: and Trump's inability to follow through, an inability to see
• 10:13
  Speaker 1: things through an end or really Trump's commitment to his
• 10:18
  Speaker 1: own whims, Trump's commitment to his own emotions, how that
• 10:23
  Speaker 1: is undercut and undermined something that could have turned out
• 10:27
  Speaker 1: really really positive. I mean this, if this goes through,
• 10:34
  Speaker 1: and again, who knows, a massive betrayal of the Uranian
• 10:38
  Speaker 1: people after they told him he was coming to their help,
• 10:40
  Speaker 1: and all of that. This regime in Iran is only
• 10:43
  Speaker 1: going to be more brutal, is only going to be
• 10:46
  Speaker 1: more violent and yep in NATANIAO in his conversation with Trump,
• 11:05
  Speaker 1: reinforced the idea that that at the end of this,
• 11:09
  Speaker 1: at the end of the negotiations, that it's important that
• 11:13
  Speaker 1: the uranium, the enriched uranium, be taken out of Iran,
• 11:17
  Speaker 1: that the entire infrastructure for enriching uranium be dismantled, and
• 11:25
  Speaker 1: that there be limitations on the ability of the Uranians
• 11:27
  Speaker 1: to build ballistic missiles, and a commitment and a mechanism
• 11:34
  Speaker 1: by which to guarantee that Iran stops supporting proxy proxies
• 11:40
  Speaker 1: around the Middle East. I can guarantee you, I can
• 11:44
  Speaker 1: guarantee you I'll put real money on this. None of
• 11:47
  Speaker 1: that is in the deal. None of that will be
• 11:50
  Speaker 1: in the deal. Ntenieo is going to be bitterly disappointed.
• 11:55
  Speaker 1: And of course, if this deal does happen, Ntenia will
• 11:58
  Speaker 1: also likely take a significant electorial hit in the coming elections.
• 12:05
  Speaker 1: His big stake as compared to his opponents is not
• 12:10
  Speaker 1: he's tougher than them. There's no basis to believe that.
• 12:14
  Speaker 1: It's really he has a better relationship with Trump. If
• 12:19
  Speaker 1: Trump is perceived as having stabbed Israel in the back,
• 12:23
  Speaker 1: the advantage of Nitennieo, of Nintenieo being the leader goes away.
• 12:31
  Speaker 1: And my guess is that support for Natennia will decline
• 12:33
  Speaker 1: in Israel. Trump, who was like super popular in Israel
• 12:38
  Speaker 1: super I mean, at some point ninety plus percent then
• 12:41
  Speaker 1: seventy percent popularity is plummeted to well under fifty percent.
• 12:45
  Speaker 3: Now so, all right, those of you who predicted the
• 12:53
  Speaker 3: United States would lose the war, right, not for lack
• 12:59
  Speaker 3: of ability, not for lack of firepower, not for lack
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  Speaker 3: of military competence, but for lack of presidential balls.
• 13:10
  Speaker 1: I think that's how we'll define it, lack of presidential balls.
• 13:16
  Speaker 1: But again we will see. I mean, the Ranians might
• 13:18
  Speaker 1: save us again. The Ranians might turn down the deal
• 13:22
  Speaker 1: and and might come back and keep saving us. I
• 13:24
  Speaker 1: mean Trump keeps keeps begging them to do a deal
• 13:29
  Speaker 1: with him, and he's willing to give them a lot
• 13:31
  Speaker 1: for that deal. But the reality is that, yeah, that
• 13:37
  Speaker 1: that that the Ranians might might might save the United
• 13:43
  Speaker 1: States and his allies again. All right, but my frustration aside,
• 13:53
  Speaker 1: Let's move on. I mean, we've talked about this story
• 13:56
  Speaker 1: forever now, it's getting kind of boring. Maybe it's better
• 13:59
  Speaker 1: that they just do it deal, just just just just
• 14:01
  Speaker 1: just so we can take this off of the around
• 14:03
  Speaker 1: book show news updates, so we don't have to repeat
• 14:07
  Speaker 1: ourselves over and over and over and over again. Yeah,
• 14:17
  Speaker 1: I mean, hopefully Eon will reject the deal. It's it's uh,
• 14:26
  Speaker 1: it's pretty crazy that they've got a deal being offered
• 14:29
  Speaker 1: to them, uh, being offered to them. Ah Uh, let's see. Yeah. Remember,
• 14:40
  Speaker 1: one of Trump's goals in going to China and meeting
• 14:44
  Speaker 1: with Hi was to try to get the supply of
• 14:48
  Speaker 1: rail earth materials flowing again. China was restricting the availability
• 14:53
  Speaker 1: of railroad materials. It has set up a kind of
• 14:56
  Speaker 1: an export enforcement mechanism that politicized the whole process of exporting,
• 15:06
  Speaker 1: of exporting the rare earth materials. And of course we
• 15:09
  Speaker 1: know that China basically dominates, it dominates that the whole
• 15:16
  Speaker 1: rare earth for magnets and for everything else, and that
• 15:20
  Speaker 1: is essential. It's national security issue. And supposedly one of
• 15:24
  Speaker 1: Trump's achievements during his meeting with Shi, although I was
• 15:31
  Speaker 1: skeptical that there were any achievements, was to get a
• 15:35
  Speaker 1: deal from China to facilitate, to facilitate, you know, an
• 15:45
  Speaker 1: easier ability of US businesses to receive rare earth materials. Well,
• 15:52
  Speaker 1: it turns out not surprising to anybody who knows how
• 15:56
  Speaker 1: bad Trump is a deal making not surprise. US business
• 16:01
  Speaker 1: groups are saying that Chinese export controls have made critical
• 16:06
  Speaker 1: minerals nearly unobtainable. That's especially true materials used in aerospace
• 16:12
  Speaker 1: and defense. That's include samarium, cobot magnets, I guess, and
• 16:21
  Speaker 1: yetrium I don't even know if I'm pronouncing it right.
• 16:24
  Speaker 1: Y T T R I UM affected companies. US affected
• 16:30
  Speaker 1: companies are searching the world for non Chinese supplies. But
• 16:34
  Speaker 1: as we've talked about in the past, the problem there is,
• 16:37
  Speaker 1: while there's plenty of rare earth materials in the ground
• 16:40
  Speaker 1: all over the world, there's very little mining of it,
• 16:44
  Speaker 1: and because of all kinds of environmental regulations, there's just
• 16:49
  Speaker 1: a very little refining of it that is actually processing,
• 16:55
  Speaker 1: refining these rare earth materials because it's the dirty. It's dirty,
• 17:02
  Speaker 1: it's not it's it's you know, it's tough. It's tough.
• 17:09
  Speaker 1: And so China really does control this. It has a
• 17:13
  Speaker 1: eighty plus percent of the entire global market. China really
• 17:19
  Speaker 1: has leverage. Not abstract, but if you think about it,
• 17:24
  Speaker 1: China today is embedded in supply chains for US weapons systems,
• 17:31
  Speaker 1: for microprocessors, for electric vehicles, for energy, for industrial production.
• 17:36
  Speaker 1: Almost everything today in the modern world depends on these
• 17:39
  Speaker 1: raios materials. And we have allowed, out of a neglect
• 17:42
  Speaker 1: for our own mining industry, out of a neglect for
• 17:46
  Speaker 1: own resources, out of elevation of mother nature above national security,
• 17:54
  Speaker 1: we have neglected to create our own supply chain to
• 17:59
  Speaker 1: build these things. In the United States. We've also not
• 18:03
  Speaker 1: encouraged other countries to do it. I mean Trump came
• 18:08
  Speaker 1: in in his first term as the big China hawk
• 18:13
  Speaker 1: who wanted to disengage with China. That was what that
• 18:17
  Speaker 1: was twenty sixteen. That's ten years ago, or really nine
• 18:21
  Speaker 1: years ago. He came in in twenty seventeen, nine years ago.
• 18:24
  Speaker 1: We had nine years to figure this out, nine years
• 18:28
  Speaker 1: to build alternatives, nine years to encourage other countries to
• 18:32
  Speaker 1: create these facilities. I means, it really is stunning. I mean,
• 18:39
  Speaker 1: remember even Obama had a pivot to Asia, wanted to
• 18:43
  Speaker 1: pivot to Asia. Well okay, well, wouldn't one of the
• 18:45
  Speaker 1: main strategies be in a pivot where you're focusing on
• 18:49
  Speaker 1: Chinese to figure out, ooh, we've got all these supply chains,
• 18:52
  Speaker 1: particularly particularly these rare materials that really depend on China.
• 18:57
  Speaker 1: How do we how do we protect ourselves from being
• 19:00
  Speaker 1: completely dominated by them, completely reliant on them? The United States,
• 19:08
  Speaker 1: the West more broadly is not you know, this is
• 19:14
  Speaker 1: the point I keep making. I've been making this for
• 19:17
  Speaker 1: years and years. Our politicians, the people who run our country,
• 19:25
  Speaker 1: have no strategy. They don't think beyond tomorrow or the
• 19:30
  Speaker 1: next election cycle. There's almost no strategic thinking. This is
• 19:36
  Speaker 1: I mean, the Iran war is a great case, right.
• 19:39
  Speaker 1: I mean, any strategic thinking would have said, the first
• 19:42
  Speaker 1: thing Uranians will do would block their homeost straits U,
• 19:45
  Speaker 1: let's have a plan for that. There's no strategic thinking
• 19:48
  Speaker 1: in Washington, DC. I mean literally not, and when there is,
• 19:53
  Speaker 1: it's not very good. Our politicians and our bureaucrats are
• 19:58
  Speaker 1: not that smart, they're not very able, and they're not
• 20:03
  Speaker 1: owe you in it towards thinking long term. I mean,
• 20:06
  Speaker 1: we could go on and on about the fact that
• 20:08
  Speaker 1: SOID security is going bankrupt. You see story after story
• 20:11
  Speaker 1: after the story coming out these days about how by
• 20:14
  Speaker 1: twenty thirty two, which is just around the corner, there's
• 20:18
  Speaker 1: going to be real problem of social security medicare you know,
• 20:21
  Speaker 1: the deficit, the massive amount of debt. I mean, it's
• 20:25
  Speaker 1: almost like the government's going, yeah, what s meant? All
• 20:27
  Speaker 1: do we want? And then we'll pray, We'll all pray
• 20:30
  Speaker 1: that AI will save us. That the US economy like
• 20:33
  Speaker 1: what's his name, Bessett, and the comments secretary of his
• 20:38
  Speaker 1: names said, oh, the US economy is going to go
• 20:40
  Speaker 1: at six percent. Now, it's true. If the US economy
• 20:43
  Speaker 1: grew at six percent, the deficit would not be a
• 20:45
  Speaker 1: problem and we will pay back all our debts. But
• 20:49
  Speaker 1: the US economy is struggling to go at two percent,
• 20:53
  Speaker 1: and that was completely predictable. So they're replacing strategy with prayer.
• 20:59
  Speaker 1: I mean not literally prayer, but whom desire emotion this
• 21:04
  Speaker 1: present more than any But they're all that way. It's
• 21:06
  Speaker 1: not like Biden could think strategically. Wait. Stop, it's not
• 21:10
  Speaker 1: like Biden could think period. I mean, his mind was gone.
• 21:15
  Speaker 1: And it's not that the people around him had long
• 21:17
  Speaker 1: term strategy, not real, not one that actually considered America's
• 21:27
  Speaker 1: interest and had any kind of understanding of economics, so
• 21:30
  Speaker 1: national security or geopolitics. It is stunning, stunning that you
• 21:37
  Speaker 1: have to hear about this stuff on the book show.
• 21:39
  Speaker 1: And it's not something that's debated regularly you know media
• 21:43
  Speaker 1: among our politicians that it's not debated in presidential debates
• 21:49
  Speaker 1: or congressional debates. It's not being spoken of much in
• 21:53
  Speaker 1: the Senate and place like that. We just don't have
• 21:56
  Speaker 1: a political class that is interested in any long term
• 21:59
  Speaker 1: SI solutions to any problems. They deny the problems and
• 22:03
  Speaker 1: they don't want to think about solutions. And this is
• 22:06
  Speaker 1: true of Democrats and Republicans. It's true of both sides
• 22:11
  Speaker 1: of the aisle. All they care about, and it's now
• 22:15
  Speaker 1: become naked and explicit. All they care about is power.
• 22:20
  Speaker 1: I mean, even with the Iran deal stuff, not having
• 22:24
  Speaker 1: a deal is interfering with the Midtrum election, not with
• 22:27
  Speaker 1: the interests of the United States. So the Miditum election.
• 22:29
  Speaker 1: So let's get a deal. No matter what kind of deal,
• 22:31
  Speaker 1: We'll get a deal so we can somehow survive. Now,
• 22:41
  Speaker 1: as I've told you, markets often solve these problems, but
• 22:44
  Speaker 1: it takes time, particularly when the geopolitics gets in the way.
• 22:52
  Speaker 1: There is an opportunity for another country to step in
• 22:55
  Speaker 1: and start building capabilities in railroad materials. Is an opportunity
• 23:00
  Speaker 1: for another country to start building the uh processing, refining
• 23:07
  Speaker 1: that is necessary capacity. Industrial capacity is necessary to compete
• 23:12
  Speaker 1: with China. I mean, the need for with materiality is
• 23:15
  Speaker 1: not going away. So a long term investment makes a
• 23:18
  Speaker 1: lot of sense. And indeed, that is exactly what is
• 23:22
  Speaker 1: happening in India. Conglomerates like Reliance, Vedanta and adanih investing
• 23:40
  Speaker 1: in mining, refining, processing, and building things like magnets. Right.
• 23:49
  Speaker 1: This is an area that Chinese dominance has created a
• 23:52
  Speaker 1: massive market opportunity for somebody. And in this case India,
• 23:58
  Speaker 1: which is ambitious, India, which has it's a big country.
• 24:03
  Speaker 1: I guess is it has real earth materials, it has capital,
• 24:08
  Speaker 1: it has industries, it has capabilities, and it's probably a
• 24:12
  Speaker 1: little less concerned about environmental issues then let's say the
• 24:15
  Speaker 1: United States would be. Uh, you're seeing the private sector
• 24:20
  Speaker 1: in India step up and and and you don't engage.
• 24:25
  Speaker 1: Now we'll see if these projects come into being, it's
• 24:28
  Speaker 1: going to require government. My guess is the land is
• 24:32
  Speaker 1: owned by governments, and my guess is the environmental regulation
• 24:35
  Speaker 1: that the government will have to sign off on. But
• 24:40
  Speaker 1: here's the market finding a solution because there's a huge
• 24:46
  Speaker 1: market opportunity here. H This is you know, this is
• 24:56
  Speaker 1: the contrast with this, and and and the whole absurdity
• 25:00
  Speaker 1: of a green transition. Right. So we were encouraged to
• 25:03
  Speaker 1: go net zero green transition. Bid will build windmills, build
• 25:08
  Speaker 1: solar panels. But you know what you need for windmills
• 25:10
  Speaker 1: and solar panels. For windmills and solar panels, what you
• 25:15
  Speaker 1: need is rare earth materials. That's what you need. We've
• 25:20
  Speaker 1: encouraged to go electric and buy electric cars, evs. What
• 25:25
  Speaker 1: do you need for EV's rare earth materials? So the
• 25:32
  Speaker 1: left drove us off a cliff, you know, engaging in
• 25:37
  Speaker 1: all this net zero stuff, which is driven demand for
• 25:43
  Speaker 1: a lot of these air earth materials through the roof.
• 25:47
  Speaker 1: And now in order to gain access to these rare
• 25:50
  Speaker 1: earth materials, we're gonna have to you know, cut up
• 25:53
  Speaker 1: the earth, dig inside of it, you know, engage in
• 25:57
  Speaker 1: processing or finding, which is pretty polluting. And you know,
• 26:01
  Speaker 1: the greens don't like and the greens don't really care.
• 26:05
  Speaker 1: They want to stop that because they're not really and
• 26:09
  Speaker 1: this is one more way in which they reveal themselves
• 26:11
  Speaker 1: they not really they don't really want green energy, but
• 26:15
  Speaker 1: they really want and we'll get to this in a
• 26:18
  Speaker 1: few segments, what they really want is to stop. Stop civilization,
• 26:23
  Speaker 1: stop capitalism, stop production, stop increasing standard living, just stop
• 26:27
  Speaker 1: stop now, please stop. That is what motivates them. That's
• 26:34
  Speaker 1: what drives them. So that's a story. Anyway, India might
• 26:39
  Speaker 1: try to fill in the gap. It's going to take
• 26:41
  Speaker 1: a while. We're probably looking at twenty thirty before India
• 26:44
  Speaker 1: becomes a significant resource for you know, these rare earth materials,
• 26:50
  Speaker 1: including lithium. But it does look like the government is
• 26:55
  Speaker 1: committed to this and that the private sector is gauged
• 27:00
  Speaker 1: and involved in going to do this. Again, there's a
• 27:02
  Speaker 1: massive market opportunity. All right, Yeah, I want to show
• 27:12
  Speaker 1: you these graphs. So these are graphs from scott Linskipp.
• 27:17
  Speaker 1: So remember Trump told us that Trump told us that
• 27:25
  Speaker 1: tariffs we're gonna usher in a new era, a golden
• 27:31
  Speaker 1: age of manufacturing. US manufacturing was going to take off.
• 27:38
  Speaker 1: Things were going to be so good. Golden Age, the
• 27:41
  Speaker 1: Golden Age. I want to I want to do an
• 27:42
  Speaker 1: update on the Golden Age. Once in a while, we
• 27:44
  Speaker 1: do updates and golden ages, figure out what's actually happened
• 27:47
  Speaker 1: out there in the manufacturing world, which Trump seems to
• 27:53
  Speaker 1: care so much about. I'm not very concerned about any
• 27:58
  Speaker 1: of these graphs. I'm just concerned that Trump not fulfilling
• 28:00
  Speaker 1: his promise. I'm shocked, as I'm sure you are too.
• 28:06
  Speaker 1: So let's take a look. Yeah, there's a graph. Okay,
• 28:09
  Speaker 1: So this is a graph of construction of manufacturing facilities.
• 28:14
  Speaker 1: Now what you see is, you know, being fairly flat
• 28:20
  Speaker 1: during Trump's first term, and then a huge spike a
• 28:24
  Speaker 1: golden age of construction during the Biden administration. Now, this
• 28:30
  Speaker 1: huge increase in the Biden administration was driven by gum
• 28:34
  Speaker 1: and subsidies. It was driven by the Inflation Now Acts,
• 28:39
  Speaker 1: and it was in inflation whatever the Inflation Act of
• 28:43
  Speaker 1: when he came into office in twenty twenty one. It
• 28:45
  Speaker 1: was driven by the Chip Act. It was driven by
• 28:49
  Speaker 1: a lot of this is wasteful, meaningless construction of factories
• 28:54
  Speaker 1: that produce solar panels, you know, involved in solar energy
• 29:00
  Speaker 1: mills and batteries and things like that. These are massive
• 29:03
  Speaker 1: subsidies to all kinds of industries, including the ship industry
• 29:07
  Speaker 1: to build bilbiltsy. So a huge increase. This is the
• 29:11
  Speaker 1: value of private manufacturing construction went from somewhere around six
• 29:17
  Speaker 1: I assume this is in billion, yes, six billion to
• 29:20
  Speaker 1: twenty billion three acts plus in Biden's four years. Now,
• 29:27
  Speaker 1: that's a huge We know this had an amazing impact
• 29:32
  Speaker 1: on the economy, because the economy was amazing in the
• 29:34
  Speaker 1: Biden or maybe not so. Construction of manufacturing facilities does
• 29:40
  Speaker 1: not necessarily colorate with great jobs, and particularly if it's
• 29:46
  Speaker 1: subsidized by the government, one worries about all this construction
• 29:50
  Speaker 1: actually having any use. Since then, since Strump came into power,
• 29:57
  Speaker 1: as you can see, you know, going down during the
• 30:01
  Speaker 1: final months of the Biden administration in twenty twenty five,
• 30:05
  Speaker 1: and then since Trump came in, it flattened out and
• 30:08
  Speaker 1: then collapsed earlier this year, and now seems flattening out
• 30:12
  Speaker 1: again at around fifteen billion, still significantly higher than it
• 30:16
  Speaker 1: was in Trump's first term, but significantly lower than it
• 30:21
  Speaker 1: peaked out and Biden. And a lot of this is
• 30:24
  Speaker 1: still the ongoing subsidies of the Chip Act, So we
• 30:31
  Speaker 1: haven't really seen a manufacturing renaissance. Well maybe existing factories
• 30:37
  Speaker 1: without going they've hired a lot of people. Maybe they've
• 30:40
  Speaker 1: hired a lot of people. So here's two things. One
• 30:43
  Speaker 1: is manufacturing output, and you can see that manufacturing have
• 30:49
  Speaker 1: to it kind of peaked. I think it was an
• 30:51
  Speaker 1: all time high sometimes during Trump won, and then declined
• 30:57
  Speaker 1: and then crashed during COVID and then recovered and it
• 30:59
  Speaker 1: was flat doing Biden, starting to decline a little bit
• 31:02
  Speaker 1: during Biden, and then increased a little bit under Trump,
• 31:05
  Speaker 1: and seems to have increased a little bit, but not
• 31:08
  Speaker 1: by much. I wouldn't say it's a Golden Age way increasing.
• 31:12
  Speaker 1: Maybe we're heading back to where we were in Trump won,
• 31:16
  Speaker 1: which was an all time high in spite of all
• 31:18
  Speaker 1: the complaints about manufacturing is going away from the United
• 31:21
  Speaker 1: States in terms of actual stuff produced output all time
• 31:27
  Speaker 1: high was in twenty eighteen.
• 31:30
  Speaker 3: I think.
• 31:33
  Speaker 1: Employment, on the other hand, went up during Trump's first
• 31:38
  Speaker 1: term even as output went down, then collapsed under COVID,
• 31:43
  Speaker 1: and then recovered under Biden and peaked in twenty twenty
• 31:47
  Speaker 1: two twenty twenty three, and has since then been slowly declining.
• 31:52
  Speaker 1: That does look like over the last few months it's
• 31:55
  Speaker 1: flattened out a little bit, maybe upticking a little bit.
• 32:00
  Speaker 1: But so far, so far. I just wanted to update
• 32:02
  Speaker 1: you so far. No golden age of manufacturing, yeah, yeah, now, uh,
• 32:17
  Speaker 1: it is a question. Yeah, so you can see all
• 32:21
  Speaker 1: this and in this let me just see something, all right,
• 32:29
  Speaker 1: Uh all right, yes, it's we don't quite have it yet,
• 32:49
  Speaker 1: the Golden age. Maybe it's coming. By the way, this
• 32:52
  Speaker 1: is from uh these Uh I got it off for
• 32:55
  Speaker 1: Scott Linds again, but it's actually Christian Davy and Ian
• 33:00
  Speaker 1: Hodgens published an article about this in The Financial Times
• 33:07
  Speaker 1: a few days ago, and it's really the graphs from them.
• 33:13
  Speaker 1: And so remember the trillions and trillions and trillions and
• 33:18
  Speaker 1: trillions and trillions of dollars that the world promised Trump
• 33:24
  Speaker 1: that they would invest in the United States, and uh,
• 33:29
  Speaker 1: you know, invested in the United States, and Trump say,
• 33:32
  Speaker 1: I think it was seventeen trillion or something. It's not happening.
• 33:38
  Speaker 1: It's just it's just not happening. Maybe there's something about
• 33:46
  Speaker 1: America just doesn't it doesn't make sense of many facts
• 33:49
  Speaker 1: in America, which is probably true. It just doesn't make
• 33:52
  Speaker 1: sense too many facture more than we already making some manufacturing.
• 33:56
  Speaker 1: Or maybe if you want to manufacture in America, the
• 33:59
  Speaker 1: thing to do is not some sidize. It's not a
• 34:01
  Speaker 1: big Fahn country. Stay invest when you know they're not
• 34:04
  Speaker 1: going to anyway. Maybe the answer to that is rejuice regulation,
• 34:12
  Speaker 1: make it easier to hire, make it easier to build.
• 34:17
  Speaker 1: Maybe that's the solution. Uh, just give me one second,
• 34:31
  Speaker 1: all right. So that was from Scott. That is a
• 34:38
  Speaker 1: Golden Age PHIASA PHISA god. So PHIASA is the Phone
• 34:52
  Speaker 1: Intelligence Surveillance Act, right, and the Fun Intelligence Surveillance Act
• 34:58
  Speaker 1: has a section Section seven zero too. Uh, and the
• 35:03
  Speaker 1: both the phone both PISA and the section siver to
• 35:06
  Speaker 1: really undermine the government's electronic spying program in the United States.
• 35:13
  Speaker 1: PISA gives the ability of the government to get The
• 35:16
  Speaker 1: government has secret courts where they can get secret warrants
• 35:20
  Speaker 1: to tap your phone, listen in, spy on you more broadly.
• 35:26
  Speaker 1: And you know this has passed as part of the
• 35:29
  Speaker 1: post nine to eleven hysteria. And this gave the NSA
• 35:36
  Speaker 1: and the other intelligence agencies huge amount of power within
• 35:40
  Speaker 1: the United States to spy un Americans. It's what God,
• 35:49
  Speaker 1: what's his name? The the NSA guy who who told
• 35:55
  Speaker 1: us about all these programs where the NSA was listening
• 35:59
  Speaker 1: in on Americans. It was what we found out was
• 36:05
  Speaker 1: going on with him right now. The expre PAISA permits
• 36:11
  Speaker 1: the government to collect US technology companies get from Google
• 36:15
  Speaker 1: and AT and T, for example, the communications of foreigners
• 36:20
  Speaker 1: located abroad without a warrant when seeking foreign intelligence information.
• 36:26
  Speaker 1: It also permits them to get information at Snowden. Thank
• 36:30
  Speaker 1: you God. I can see his face, I can't get
• 36:32
  Speaker 1: his name. My brain will not deliver that information. And
• 36:40
  Speaker 1: you know it's it's about to expire. PAISA expires tomorrow,
• 36:44
  Speaker 1: expires tomorrow. And members of Congress voted on it today
• 36:53
  Speaker 1: and in a two hundred and eighteen hundred and ninety
• 36:55
  Speaker 1: eight vote, the House rejected a measure to temper or
• 37:00
  Speaker 1: renew to renew PFISER. So at least section seven oh
• 37:08
  Speaker 1: two a PFISER, which is again allows all this spying
• 37:13
  Speaker 1: to happen. Now, part of this is that there are lawmakers, Democrats,
• 37:21
  Speaker 1: are plenty of Republicans who just don't like this, who've
• 37:26
  Speaker 1: never liked it. I mean, I know Rand Paul always
• 37:29
  Speaker 1: votes against renewing the section seven to a PISA. I
• 37:33
  Speaker 1: think he votes against Pfiser more broadly. But but there's
• 37:42
  Speaker 1: a group of Congressmen who would normally vote for this,
• 37:50
  Speaker 1: but that group splendid away from Trump, splintered away from
• 37:54
  Speaker 1: approving this is something Trump really wants because he had
• 37:58
  Speaker 1: installed Bill Poulte, a housing official, right the top housing official,
• 38:05
  Speaker 1: as the head of as basically a director of National Intelligence,
• 38:10
  Speaker 1: which he is, you know, how do you say it,
• 38:15
  Speaker 1: you know, massively un qualified to be. He just has
• 38:19
  Speaker 1: no qualification for it. And he's clearly a partisan. And
• 38:22
  Speaker 1: he was going to keep his housing positions and do this,
• 38:26
  Speaker 1: and they were like, no, we're not, you know, and
• 38:30
  Speaker 1: he was bypassing congressional approval because you know, he was
• 38:34
  Speaker 1: an interim position, but the guy could stay there into
• 38:37
  Speaker 1: him forever. Basically, Republicans stold Trump, if you want fights
• 38:42
  Speaker 1: at a pass, you've got to appoint somebody and have
• 38:48
  Speaker 1: them go through the Senate and have the Senate to
• 38:51
  Speaker 1: prove him like all other but have somebody credible. Now,
• 38:57
  Speaker 1: remember some Democrats act he want us right, they're all
• 39:01
  Speaker 1: for spying, right. It's not like Democrats are for privacy
• 39:03
  Speaker 1: and Republicans are for spying. This usually gets a significant majority.
• 39:18
  Speaker 1: And again they the Democrats said unless Trump picked somebody
• 39:24
  Speaker 1: else other than mister Polte or nominated a permanent pick,
• 39:29
  Speaker 1: they would now vote for it. And this is what
• 39:30
  Speaker 1: happened today. So nobody knows exactly what happens tomorrow. I mean,
• 39:35
  Speaker 1: the reality is that tomorrow whatever the NSA does in
• 39:39
  Speaker 1: terms of listening to people becomes illegal. It's not authorized
• 39:43
  Speaker 1: by the law. So you know, the worry that both
• 39:55
  Speaker 1: Republicans and Democrats have is that the reason Poulte was
• 39:59
  Speaker 1: appointed to direct of National Security and National Intelligence is
• 40:06
  Speaker 1: that he would use that position to go after Trump's enemies,
• 40:12
  Speaker 1: which is what Trump has always wanted. That's all he
• 40:16
  Speaker 1: really cares about. He certainly doesn't care about American national security.
• 40:23
  Speaker 1: So the fear was that he was going to use
• 40:24
  Speaker 1: this to go after his enemies, and both Republicans and
• 40:28
  Speaker 1: Democrats united to go after that. Uh Poultier was going
• 40:32
  Speaker 1: to conduct max firings of employees at the Office of
• 40:36
  Speaker 1: Director of the National Intelligence. Again, that is an officer
• 40:39
  Speaker 1: was established after nine to eleven, after the intelligence failure
• 40:43
  Speaker 1: of nine to eleven UH and in order to coordinate
• 40:47
  Speaker 1: all the different intelligence agencies of the military, civilian, NSSA, CIA, FBI,
• 40:53
  Speaker 1: and the military intelligence to coordinate them because nine to
• 40:56
  Speaker 1: eleven to large Dolge extent happened because there was no
• 40:59
  Speaker 1: such coordination. Now, Tolsi Govett, who had been the director,
• 41:04
  Speaker 1: had already overseen significantnouncizing of the agency. So people thought
• 41:09
  Speaker 1: this was going to be a gutting into agency and
• 41:11
  Speaker 1: a focusing on the agency onjust on political motives. Anyway,
• 41:16
  Speaker 1: Trump caved another taco. Trump earlier today announced that because
• 41:28
  Speaker 1: of the controversy of him appointing Bill Poulte, that he
• 41:33
  Speaker 1: was now going to nominate Jake Clayton to become the
• 41:38
  Speaker 1: next permanent Director of National Security. Now it's not just
• 41:45
  Speaker 1: Jake Clayton has any national security experience. He doesn't really
• 41:51
  Speaker 1: more than Bill Poultey, because at least Clayton is a
• 41:55
  Speaker 1: lawyer who might have had some you know, interaction action
• 42:00
  Speaker 1: with some security issues. Clayton is currently the US Attorney
• 42:04
  Speaker 1: for the Southern District of New York. He's the former
• 42:08
  Speaker 1: chairman of SEC the Securities and Exchange Commission, and he
• 42:13
  Speaker 1: will now go in front of the Senate to be approved.
• 42:23
  Speaker 1: Clayton is a registered independent, He's not a Republican. He's
• 42:27
  Speaker 1: served on what legal experts call the most powerful position
• 42:29
  Speaker 1: in and Justice Apartment, the Southern District of New York.
• 42:33
  Speaker 1: I've told you that that's where Giuliani served. He's been
• 42:37
  Speaker 1: this since August of twenty twenty five. Trump nominated him
• 42:40
  Speaker 1: shortly after winning the twenty twenty four election. You know.
• 42:49
  Speaker 1: So one of the things that Clayton did was go
• 42:52
  Speaker 1: after indict Maduro right that ultimately led to his extraction.
• 42:59
  Speaker 1: Call it that he's a West Virginia Natives. He started
• 43:04
  Speaker 1: his legal career as a low clerk for US district
• 43:08
  Speaker 1: courts in the Eastern District of Pennsylvania. You know. He
• 43:14
  Speaker 1: then worked at a private law firm. He was nominated
• 43:19
  Speaker 1: to be Chairman of the of the SEC by Trump
• 43:22
  Speaker 1: in twenty seventeen. And yeah, you know, the guy seems
• 43:29
  Speaker 1: like he's pretty well respected. He is frequently testified before Congress.
• 43:35
  Speaker 1: He knows what that is going to be about. Now again,
• 43:40
  Speaker 1: it really is hard to figure out how Congress is
• 43:49
  Speaker 1: going to deal with the fact that he has no
• 43:51
  Speaker 1: zero zilch national security experience needed the Tolci gabet So
• 43:59
  Speaker 1: I guess, I guess that won't stop them. He'll probably
• 44:02
  Speaker 1: get approved. He's been approved by Congress for other positions,
• 44:06
  Speaker 1: so it's likely he would get approved. But this is
• 44:09
  Speaker 1: a case where Trump has caved to Congress in order
• 44:13
  Speaker 1: to get in order to get PISA approved for supposed
• 44:17
  Speaker 1: national security reasons. Now again, from our perspective, fights is
• 44:21
  Speaker 1: a bad law because it ultimately allows Congress, sorry, that
• 44:26
  Speaker 1: allows the NSA to spy on Americans. It's what Ed
• 44:30
  Speaker 1: Snowden told us about at the time.
• 44:33
  Speaker 4: I thought that that would that the reaction to that
• 44:40
  Speaker 4: would be stronger, that the consequence of that would be,
• 44:45
  Speaker 4: you know, the weakening AFFISA, that Americans.
• 44:48
  Speaker 1: Would rebel against it. But it won't. Somebody says he's
• 44:56
  Speaker 1: a swamp Dennison, He probably is that's why you'll probably
• 44:59
  Speaker 1: be approved. And you know he probably won't go after
• 45:05
  Speaker 1: you know, Trump's enemies the way Poultier would have, so
• 45:10
  Speaker 1: who knows. But yeah, it's another Trump backing down. But fine,
• 45:19
  Speaker 1: in this case, we're all supportive, all right. One of
• 45:25
  Speaker 1: the most vicious, really evil, anti human, anti life movements
• 45:33
  Speaker 1: on the left is the de growth movement, which is
• 45:40
  Speaker 1: a growing movement uh and is gaining credibility and prestige
• 45:48
  Speaker 1: as part of that yesterday, well this isn't yesterday. This
• 45:52
  Speaker 1: last week, six prominent figures, including a Nobel Prize winning
• 45:58
  Speaker 1: economics Joseph Stieglitz, Thomas Picketti, j Ti Ghosh, Kate Warworth,
• 46:08
  Speaker 1: Jason Hickel, Oliver de Shutter, all well known economists of
• 46:14
  Speaker 1: the left, but well known, published a manifesto in The
• 46:18
  Speaker 1: Guardian under the headline quote we economists have done the math.
• 46:23
  Speaker 1: Growth is dedoomed strategy. They announced, quote a roadmap for
• 46:31
  Speaker 1: eradicating poverty beyond growth now. Supposedly, this manifesto was drafted
• 46:40
  Speaker 1: over eighteen months by more than four hundred people, including
• 46:45
  Speaker 1: people from UN agencies, national governments, academic experts, civil society organizations,
• 46:51
  Speaker 1: trade union, social and solidarity, economic economy actors and grassroot movements,
• 46:57
  Speaker 1: and it has been endorsed by three hundred and fifty
• 47:00
  Speaker 1: ignitaries who call on national governments, political leaders all over
• 47:07
  Speaker 1: the globe to use this. Now, note how they approach this.
• 47:16
  Speaker 1: They've done the math, they tell you they've done the math,
• 47:20
  Speaker 1: and yet the entire manifesto contains no math, no model,
• 47:26
  Speaker 1: no estimate, no conte factual, no argument. What it contains
• 47:34
  Speaker 1: is just assertions. The main assertion and the main proposition
• 47:39
  Speaker 1: is that the world economy needs to be redesigned by
• 47:43
  Speaker 1: the experts, and it needs to be redesigned around objectives
• 47:48
  Speaker 1: chosen by coalition of UN agencies and NGOs, with growth
• 47:54
  Speaker 1: demoted to being suspicious, and it's not. It's being presented
• 48:04
  Speaker 1: as truth. As we are the experts, some of us
• 48:10
  Speaker 1: have noble prices in economics. We know we are superior
• 48:15
  Speaker 1: to the rest of you. We are the philosopher kings.
• 48:18
  Speaker 1: We know. Now Pedro Santa Clara, who is you know,
• 48:31
  Speaker 1: as a professor of finance and from actually in Portugal,
• 48:38
  Speaker 1: has written a bunch of stuff against these kind of things,
• 48:42
  Speaker 1: and he's kind of, you know, he's kind of written
• 48:45
  Speaker 1: a response. If you will to this. I mean, the
• 48:50
  Speaker 1: reality is that this is this is the new manifesto
• 48:56
  Speaker 1: of the left. This is what they are going to embrace.
• 48:59
  Speaker 1: This is what going to uh, you know, cultivate. This
• 49:03
  Speaker 1: is consistent with their environmentalist goals, It consistent with net zero. Indeed,
• 49:08
  Speaker 1: much of this, much of this is based on the
• 49:11
  Speaker 1: idea that growth is destroying the environment, that we're going
• 49:15
  Speaker 1: to die of climate change, that that is the cost
• 49:18
  Speaker 1: of growth, is climate change, and that is a cost
• 49:21
  Speaker 1: humanity cannot cannot survive. So let's quickly look at some
• 49:29
  Speaker 1: of these. We'll get into much more detail on a
• 49:30
  Speaker 1: future show. We'll do maybe a whole show on the
• 49:33
  Speaker 1: the growth movement. It's worthy of that given how I
• 49:36
  Speaker 1: think they're going to be significant, this significant power on
• 49:40
  Speaker 1: the left. They believe in a in a fixed piety world,
• 49:49
  Speaker 1: that the world is a fixed by They believe that poverty,
• 50:01
  Speaker 1: the poverty should not exist because poverty is a consequence
• 50:08
  Speaker 1: of the fact that we have not redistributed enough of
• 50:12
  Speaker 1: the rich. They say in the article in the manifesto,
• 50:18
  Speaker 1: the poor poor because of the rich are rich. There's
• 50:21
  Speaker 1: a fixed pie. If the rich take more than the
• 50:24
  Speaker 1: poor have lass now put aside the fact that there
• 50:31
  Speaker 1: is no such thing as a pie, put aside the
• 50:34
  Speaker 1: fact that you have what you create. That would be
• 50:39
  Speaker 1: a huge cognitive dissonance for them. By the way, Stiglitz,
• 50:44
  Speaker 1: who is the Nobel Prize lotterate who wrote this with
• 50:47
  Speaker 1: the others, with somebody who you know, was once at
• 50:51
  Speaker 1: an event Don Watkins and I did about inequality and
• 50:56
  Speaker 1: around a conversation where actually two Nobil Prizes win as
• 50:59
  Speaker 1: their stigulats in one the other more of a census
• 51:02
  Speaker 1: center right kind of economists. And there was a conversation
• 51:05
  Speaker 1: going on with other people about this, and Don and
• 51:08
  Speaker 1: I were presenting our views about inequality, and at some
• 51:13
  Speaker 1: point in Stigulus were participating a little bit, and at
• 51:15
  Speaker 1: some point Stiglus just stood up and said, this is
• 51:20
  Speaker 1: completely this is nonsense, this is terrible. You know, there's
• 51:24
  Speaker 1: nothing to talk about here, and he just walked out,
• 51:27
  Speaker 1: walked out. So this is some thinking the the growth,
• 51:38
  Speaker 1: you know, and scarcity, This is the idea again, the
• 51:41
  Speaker 1: scarcity everything scarce, and the scarcity is manufactured. We could
• 51:48
  Speaker 1: give everybody enough to be not poor just by redistributing
• 51:56
  Speaker 1: everything we have. We don't need to grow in order
• 51:59
  Speaker 1: to do it. I mean, they argue that all this
• 52:09
  Speaker 1: economic growth does not improved human life. That is that
• 52:23
  Speaker 1: you know, poverty is still has not been reduced, which
• 52:27
  Speaker 1: is counter to just you know, visible evidence. You know,
• 52:38
  Speaker 1: they're selective in the numbers they choose. Wages are stagnated,
• 52:43
  Speaker 1: which is completely nonsense. You know, inequality is exploded, which
• 52:48
  Speaker 1: is nonsense and irrelevant. And you know they make the
• 52:54
  Speaker 1: claim of around you know, around ninety two percent of
• 52:58
  Speaker 1: excess global carbon emission could be attributed to the global
• 53:01
  Speaker 1: north based on what is China the global north of
• 53:08
  Speaker 1: the global south. China's emitting a lot, India's emitting a
• 53:12
  Speaker 1: lot of the global north of the global south. It's
• 53:15
  Speaker 1: a completely manufactured number. It has no reality. It comes
• 53:21
  Speaker 1: from nowhere. The wealthiest ten percent of individuals are responsible
• 53:27
  Speaker 1: for nearly half global emissions. Again from where I mean,
• 53:31
  Speaker 1: what does the growth stuff mostly comes out of? Is
• 53:36
  Speaker 1: a panic I think among many leftists the climate change
• 53:41
  Speaker 1: is no longer a big issue. The people don't see
• 53:44
  Speaker 1: the care anymore. Greta has abandoned climate change as an agenda.
• 53:48
  Speaker 1: She's much more interested in Palestinians than she is in
• 53:52
  Speaker 1: climate change. So we need to bring it back. And
• 53:58
  Speaker 1: the way to bring it back is to recreate the
• 54:00
  Speaker 1: hysteria about poverty, about inequality, and about climate, and as
• 54:10
  Speaker 1: part of that, frame it all in terms of the growths.
• 54:21
  Speaker 1: The solution to all this is no growth and massive redistribution, massive,
• 54:27
  Speaker 1: not little redistribution, massive redistribution. Now, how we survive once
• 54:33
  Speaker 1: all the redistribution happens where the capital comes from in
• 54:37
  Speaker 1: order to keep investing. I guess some governments who print money.
• 54:41
  Speaker 1: Everything is centralized, central planning. I mean, this is the
• 54:45
  Speaker 1: new communism, if you will. These are the ultimate statists.
• 54:54
  Speaker 1: So the left is not committed to base an agenda
• 54:59
  Speaker 1: of stagnation, an agenda of stagnation, not a consequence, not
• 55:04
  Speaker 1: a stagnation as a consequence. But that's what we're striving forward,
• 55:08
  Speaker 1: that's what we're going for. That's what we're trying to achieve,
• 55:11
  Speaker 1: is stagnation. It really is. You know, how to believe
• 55:20
  Speaker 1: that anybody serious really has such an agenda and they
• 55:23
  Speaker 1: say this, nobody has become out of poverty. Just look
• 55:26
  Speaker 1: at China where billion people have come out of poverty.
• 55:29
  Speaker 1: Look at India where billion people are coming out of poverty.
• 55:32
  Speaker 1: Still got a way to go. But they're coming out.
• 55:37
  Speaker 1: Look at South Korea, Taiwan, Hong Kong, Singapore, even Vietnam
• 55:46
  Speaker 1: or Thailand. I mean, look at all of Asia, Look
• 55:50
  Speaker 1: at the African countries that have adopted some market programs.
• 55:56
  Speaker 1: Look at Eastern Europe, look at Poland. It is astounding
• 56:06
  Speaker 1: how well educated, high IQ individuals who are economists of
• 56:14
  Speaker 1: all things, can just make stuff up, lie blatantly lie
• 56:23
  Speaker 1: because of their commitment, the real commitment, unwavering commitment to
• 56:31
  Speaker 1: an egalitarian ideal, to the ideal of equal outcome. It's
• 56:38
  Speaker 1: not a surprise Piquetti is one of them. Piquetti is
• 56:44
  Speaker 1: the guy who has resurrected the idea over the last
• 56:49
  Speaker 1: fourteen years, resurrected the idea that inequality is the biggest
• 56:53
  Speaker 1: problem in the world and the equality of outcome, of course,
• 56:58
  Speaker 1: is the ultimate ideal. He is resurrected, in non Marxist terms,
• 57:05
  Speaker 1: non Marxist philosophical terms, the Marxist ideology, at least Marxist outcome.
• 57:11
  Speaker 1: If not the Marxist process, but the Shaer evasion. These
• 57:20
  Speaker 1: people engage in the share evil that they are promoting,
• 57:26
  Speaker 1: I mean, what they're really doing. I mean, imagine if
• 57:29
  Speaker 1: you redistributed all the wealth. What they're really doing is
• 57:31
  Speaker 1: dramatically would be increasing poverty all over the world, dramatically,
• 57:36
  Speaker 1: not a little bit. They would be determining in the
• 57:39
  Speaker 1: fate of humanity for the next one hundred, you know,
• 57:42
  Speaker 1: one hundred years in poverty. They would be you know,
• 57:49
  Speaker 1: they would be stopping human progress. Now, Marx is not
• 57:56
  Speaker 1: back now, and these people are not philosophical innocence that
• 57:59
  Speaker 1: Marx was. They don't have a theory the way Marks had.
• 58:04
  Speaker 1: They know what I mean here is of a history
• 58:05
  Speaker 1: of you know, synthesis and everything. They're just people who
• 58:12
  Speaker 1: are bought into the idea of the ultimate outcome of
• 58:18
  Speaker 1: egalitarianism as an ultimate outcome is equality for this as
• 58:22
  Speaker 1: equality for the sake of equality. They are Platonists in
• 58:28
  Speaker 1: the sense that they believe there philosopher kings who could
• 58:30
  Speaker 1: guide as such a world, who can redistribute the wealth
• 58:34
  Speaker 1: wisely and make can then make investments wisely to sustain
• 58:38
  Speaker 1: life on planet Earth in spite of not growing. But
• 58:48
  Speaker 1: here's the point that iron Man makes powerfully and Lennon
• 58:51
  Speaker 1: Peacock makes an opah powerfully. You're either growing or you're dying.
• 59:00
  Speaker 1: Either growing or you're dying. You're either moving in the
• 59:02
  Speaker 1: direction of life, more, life, more, more more. When people
• 59:06
  Speaker 1: say when is enough, when is enough enough? Never, It's
• 59:10
  Speaker 1: never enough. There is no such thing as the concept enough.
• 59:16
  Speaker 1: Human life is constant growing, constant seeking, constant valuing, constant more, more,
• 59:23
  Speaker 1: more of whatever, more, love, more art, more beauty, more stuff,
• 59:30
  Speaker 1: bigger homes, be nicer, cause more. Or you're shrinking and
• 59:43
  Speaker 1: you're dying and you're moving towards death. The degrowth movement
• 59:52
  Speaker 1: is a death movement. It's a death cult. It's about
• 59:57
  Speaker 1: the destruction of human value. It's about the destruction of
• 1:00:02
  Speaker 1: human life. It is about the destruction of civilization. It
• 1:00:07
  Speaker 1: is about shrinking the human population back to the caves.
• 1:00:12
  Speaker 1: That is what at the heart of it, that's what
• 1:00:17
  Speaker 1: motivates them. That's the outcome they want. Deep down, they'll
• 1:00:21
  Speaker 1: never admit it. Egalitarianism everywhere that's been tried, equality of
• 1:00:28
  Speaker 1: outcome everywhere it's tried, leads to nothing but poverty and destruction,
• 1:00:34
  Speaker 1: pain and suffering, death. And that's what the de growth
• 1:00:39
  Speaker 1: movement is. It is a movement of death. All right,
• 1:00:47
  Speaker 1: we'll leave it there. I'm actually going to I'll do
• 1:00:49
  Speaker 1: a show on the growth where we'll pull out the
• 1:00:53
  Speaker 1: entire manifesto, analyze it, analyze it and go through it,
• 1:00:58
  Speaker 1: and you know, have the the appropriate comeback, the appropriate
• 1:01:04
  Speaker 1: counter argument. All right, let me just refresh something. These economists,
• 1:01:16
  Speaker 1: by the way, were all economists who signed a letter
• 1:01:25
  Speaker 1: when Milay came to power saying that Malay's policies would
• 1:01:30
  Speaker 1: lead to destruction. And you know, to harl of those stuff,
• 1:01:42
  Speaker 1: the exact opposite has happened, as we know. I mean, well,
• 1:01:45
  Speaker 1: there's still challenges and a lot of them in the
• 1:01:48
  Speaker 1: Argentinian economy. Well, unemployment is too high and inflation is
• 1:01:55
  Speaker 1: still too high. It hasn't mean cut completely the achievements masses,
• 1:02:01
  Speaker 1: and I just want to give you a quick update
• 1:02:03
  Speaker 1: on the continued progress that me Lay is making. So
• 1:02:08
  Speaker 1: I mean Lay is in the post. Is now a
• 1:02:11
  Speaker 1: privatizing the railway system in in Argentina, at least the
• 1:02:19
  Speaker 1: commercial rail, the freight rail. A number of groups, group
• 1:02:25
  Speaker 1: of Mexico and some US rail tech firms. One of
• 1:02:30
  Speaker 1: those films called web Tech, I've never heard of them,
• 1:02:33
  Speaker 1: wab Tech uh reportedly preparing to bid for Argentina's state
• 1:02:38
  Speaker 1: freight operator, Bogranokugas. This is a network of freight operators
• 1:02:45
  Speaker 1: that moves grain and other exports from Argentina's interior to
• 1:02:50
  Speaker 1: ports where it is being exported. And by the way,
• 1:02:54
  Speaker 1: there's a massive export boom in Argentina as export taxes
• 1:02:59
  Speaker 1: have been eliminated and as you know, the the Argentina
• 1:03:05
  Speaker 1: economy has been liberalized. Agricultural productivity has gone up significantly
• 1:03:11
  Speaker 1: and a lot of that is going for exports, which
• 1:03:15
  Speaker 1: is what Argentina used to be. It used to be
• 1:03:17
  Speaker 1: an export powerhouse in agricultural products and the elimination of
• 1:03:23
  Speaker 1: the government constraints and exportation have returned it to being
• 1:03:27
  Speaker 1: a powerhouse in exporting agricultural products. And real system is
• 1:03:31
  Speaker 1: important and that's being privatized, and I expect we will
• 1:03:39
  Speaker 1: see more and more privatization. This will be a test
• 1:03:43
  Speaker 1: case for, you know, whether Argentina can actually get that
• 1:03:47
  Speaker 1: done and move towards greater and greater you know, productive efficiencies.
• 1:03:53
  Speaker 1: But there's a whole list of companies that Mila has
• 1:03:57
  Speaker 1: promised to privatize. Most of those have now been approved
• 1:03:59
  Speaker 1: and most of those are now going through the motion
• 1:04:03
  Speaker 1: and we'll be privatized. We'll keep an eye on the
• 1:04:06
  Speaker 1: story and keep updating you as more and more of
• 1:04:13
  Speaker 1: the ten economy is privatized than when we get positive
• 1:04:19
  Speaker 1: results coming out of that. All right, let's see. Yeah,
• 1:04:27
  Speaker 1: a few days ago I mentioned this story and we're
• 1:04:31
  Speaker 1: now in the human achievement of WOULD section. Of course,
• 1:04:34
  Speaker 1: me Leay is part of that, and I wanted to
• 1:04:38
  Speaker 1: mention a few things. So one is I told you
• 1:04:41
  Speaker 1: about a story where palantea software had managed to save
• 1:04:46
  Speaker 1: a lot of lives at a flor at a hospital,
• 1:04:49
  Speaker 1: and I want to give you a little bit more
• 1:04:51
  Speaker 1: color on that because it really is a pretty amazing story.
• 1:04:55
  Speaker 1: So it turns out that's sepsis. That is an infection.
• 1:04:59
  Speaker 1: The are bacterial infections. Sepsis kills more people in American
• 1:05:04
  Speaker 1: hospitals than heart attacks. Three hundred and fifty thousand people
• 1:05:08
  Speaker 1: die a year, and the reason is that the early
• 1:05:14
  Speaker 1: warning signs are not detected. People die of sepsis typically
• 1:05:21
  Speaker 1: in hospital. So for example, a slightly higher, slightly elevated
• 1:05:27
  Speaker 1: heart rate, a small temperature shift, a lab value drifting
• 1:05:32
  Speaker 1: in the wrong direction. Now, each one of these separately
• 1:05:36
  Speaker 1: could be ignored. But if you can find the pattern
• 1:05:40
  Speaker 1: among all the noise, you can identify what is going on.
• 1:05:47
  Speaker 1: Hours before it cascades into organ failure and before ultimately death.
• 1:05:56
  Speaker 1: The more you delay antibiotic treatment, the less the antibiotics
• 1:06:02
  Speaker 1: are effective. So the Tampa General built a system on
• 1:06:07
  Speaker 1: Pallanteer's foundry, which is a piece of software. The watchers
• 1:06:12
  Speaker 1: about one thousand in patients continuously. It looks at all
• 1:06:16
  Speaker 1: their vitals, vitals, their labs, their medication records, clinical notes,
• 1:06:23
  Speaker 1: everything scanned in real time for a pattern, a pattern
• 1:06:28
  Speaker 1: no single nurse would ever see, particularly one that is
• 1:06:33
  Speaker 1: in charge of twelve beds at three am in the morning,
• 1:06:39
  Speaker 1: but when risk crosses a certain threshold and then a
• 1:06:51
  Speaker 1: rapid response team gets paid. Now, humans are going to
• 1:06:55
  Speaker 1: make the treatment decision, but the software is alerting them
• 1:07:00
  Speaker 1: to something's going on, and it changes detection you know,
• 1:07:08
  Speaker 1: from having you know. It allows them to have hours
• 1:07:11
  Speaker 1: before stepsis really kicks in two minutes when it's usually detected.
• 1:07:17
  Speaker 1: And results being this since twenty twenty two, overall sepsis
• 1:07:20
  Speaker 1: mortality is cut in half. Footy in our desks down
• 1:07:24
  Speaker 1: sixty eight percent, length of stayed down thirty percent. Roughly
• 1:07:29
  Speaker 1: nine hundred lives saved one hospital. Now, if you could
• 1:07:33
  Speaker 1: do this and every hospital in America. We're talking about
• 1:07:37
  Speaker 1: tens of thousands of lives saved. So this is this
• 1:07:49
  Speaker 1: is great stuff and again an example of what you
• 1:07:52
  Speaker 1: can do with AI, what you can do with you know,
• 1:07:56
  Speaker 1: developed algorithms, what you can do with Palentia software, which
• 1:08:00
  Speaker 1: we usually associate with military, Well, it has a healthcare
• 1:08:04
  Speaker 1: function as well. Here's a weird one. I'm trying to
• 1:08:08
  Speaker 1: figure about what this actually means. Maybe maybe some of
• 1:08:12
  Speaker 1: you with more of a biology background will be able
• 1:08:16
  Speaker 1: to enlighten me. So this is an Israeli startup that
• 1:08:20
  Speaker 1: is using some kind of cell based technology to create
• 1:08:27
  Speaker 1: basically to grow create chocolate and coffee. Chocolate and coffee.
• 1:08:35
  Speaker 1: It is a solution that allows the manufacture of coffee
• 1:08:38
  Speaker 1: and chocolate in a way that bypasses all the challenges,
• 1:08:43
  Speaker 1: primarily climate and disease, and challenges like that chocolate and
• 1:08:49
  Speaker 1: coffee typically necessitates, you know, a particular type of climate,
• 1:08:55
  Speaker 1: a tropical climate. Most of the chocolate, for example, in
• 1:08:59
  Speaker 1: the world is grown in Western Africa. It originated from
• 1:09:07
  Speaker 1: the Amazon rainforest, but today eighty percent is growing in
• 1:09:10
  Speaker 1: Western Africa. Right but weather changes from year to year.
• 1:09:16
  Speaker 1: Climate might be changing, and is there a way to
• 1:09:21
  Speaker 1: guarantee that we can produce chocolate independent of climate. So
• 1:09:28
  Speaker 1: this company is using cellular what they call cellular agriculture.
• 1:09:34
  Speaker 1: Somebody is gonna have to explain cellular agriculture to me.
• 1:09:38
  Speaker 1: It's a technology that can produce cacao and coffee through
• 1:09:42
  Speaker 1: controlled cultivation processes rather than relying solely on traditional farming. So,
• 1:09:49
  Speaker 1: for example, one company is working to create cacao products.
• 1:09:52
  Speaker 1: I'm a huge cacao consumer. Right By cultivating cocw sells
• 1:09:58
  Speaker 1: directly eliminating the need to wait years for cacao trees
• 1:10:01
  Speaker 1: to mature. So they're growing the cells into chocolate immediately.
• 1:10:11
  Speaker 1: The process relies on advanced bioreact to systems. I don't
• 1:10:15
  Speaker 1: know what that is, designed to replicate the environmental conditions
• 1:10:19
  Speaker 1: plants need to grow. Plant cells are supplied with rich
• 1:10:23
  Speaker 1: nutrient rich nutrient rich media that support their development under
• 1:10:26
  Speaker 1: carefully monitored conditions. So this is lab grown meat. But
• 1:10:33
  Speaker 1: for chocolate and coffee, they do the same with chocolate,
• 1:10:39
  Speaker 1: they're doing the same thing with coffee. Now, supposely the
• 1:10:43
  Speaker 1: coffee tastes a little different. So for those of you
• 1:10:47
  Speaker 1: coffee fanatics who need your coffee to take you know,
• 1:10:50
  Speaker 1: they taste a little different, maybe a little sweeter, but
• 1:10:56
  Speaker 1: it's a process that is reliable. Fish. You don't need
• 1:11:02
  Speaker 1: a lot of water, you don't need a particular climate.
• 1:11:07
  Speaker 1: And demand for both coffee and chocolate is up. Supply
• 1:11:13
  Speaker 1: is going down, prices are going up, and there's a
• 1:11:16
  Speaker 1: real opportunity to get capitalism at work, real opportunity for
• 1:11:20
  Speaker 1: artificial coffee. It's not really artificial coffee, it's lab grown
• 1:11:23
  Speaker 1: coffee and lab grown chocolate. To really be at the
• 1:11:29
  Speaker 1: full front of this. By the way, Israeli Israel is
• 1:11:32
  Speaker 1: also you know, very much at the forefund of lab
• 1:11:40
  Speaker 1: gon meat. So Israeli company is particularly coming out of
• 1:11:43
  Speaker 1: my alma mater, the Technion, developing kind of lab gown
• 1:11:48
  Speaker 1: meat that is probably gonna dominate that if it's allowed
• 1:11:54
  Speaker 1: to write. You know, a lot of states are banning it.
• 1:11:58
  Speaker 1: But you know, anyway, all right, that is coffee and chocolate.
• 1:12:13
  Speaker 1: What else? Oh, The first advanced nuclear reactor to achieve
• 1:12:20
  Speaker 1: what's called criticality under is just being announced. This is
• 1:12:28
  Speaker 1: under New d Department of an Energy pilot program, and
• 1:12:32
  Speaker 1: this is the Antio Nuclear Inks Mark zero, a sodium
• 1:12:37
  Speaker 1: heat pipe cooled microreactor fueled by high assay low enriched
• 1:12:42
  Speaker 1: uranium and a tri structural isotropic fuel compacts, whatever the
• 1:12:49
  Speaker 1: hell that means. Has it's achieved zero power criticality at
• 1:12:53
  Speaker 1: the Idaho National Laboratory. It's become the first advanced reactor
• 1:12:59
  Speaker 1: to reach that mile stone. The development announced last week
• 1:13:04
  Speaker 1: also marks the fifty third reactor built at the Iron
• 1:13:08
  Speaker 1: l that is the Ideahowed National Laboratory site since nineteen
• 1:13:12
  Speaker 1: fifty one, and the first novel reactor designed to achieve
• 1:13:16
  Speaker 1: criticality at the laboratory in more than fifty years. More
• 1:13:22
  Speaker 1: than fifty years, that's ridiculous anyway. This pilot program, which
• 1:13:30
  Speaker 1: was established by Trump in May twenty twenty five, Again,
• 1:13:32
  Speaker 1: this is one of the areas where Trump has been
• 1:13:35
  Speaker 1: good directs at the Partner of Energy to accelerate reactor
• 1:13:39
  Speaker 1: testing and to target at least three advanced reactors reaching
• 1:13:44
  Speaker 1: criticality by July fourth, twenty twenty six. Now, what is criticality.
• 1:13:52
  Speaker 1: Criticality is the condition into which a nuclear fission chain
• 1:13:55
  Speaker 1: reaction becomes self sustaining. Now TERROR achieved what it achieved
• 1:14:01
  Speaker 1: is specifically zero power criticality. The chain reaction was sustained
• 1:14:06
  Speaker 1: at essentially no measurable energy output. That's no electricity generation.
• 1:14:12
  Speaker 1: It is not full power operation. It is just proof
• 1:14:15
  Speaker 1: that the system work, the scientific and engineering validation that
• 1:14:21
  Speaker 1: every subsequent step depends on. So this is great. It
• 1:14:27
  Speaker 1: shows that there is innovation going on in the nuclear sector.
• 1:14:33
  Speaker 1: Stuff is happening. The Department of Energy is more moving
• 1:14:37
  Speaker 1: forward with trying to get more nuclear actors approved and developed,
• 1:14:42
  Speaker 1: so that you know, the United States can shift to
• 1:14:46
  Speaker 1: more and more, more and more nuclear over the years
• 1:14:52
  Speaker 1: to come. And of course, a democratic administration a few
• 1:14:55
  Speaker 1: years might reverse any progress has made. But let's hope
• 1:14:58
  Speaker 1: that this is sustainable and that real progress is made
• 1:15:02
  Speaker 1: and that this is put into action and reactors are built.
• 1:15:07
  Speaker 1: All right, let me see, yes, Okay, this is the
• 1:15:13
  Speaker 1: final one. An AI designed universal vaccine could stop future
• 1:15:21
  Speaker 1: pandemics before they start. That's the headline, right, ground breaking.
• 1:15:24
  Speaker 1: AI designed vaccine aims to protect against not only today's coronaviruses,
• 1:15:30
  Speaker 1: so it would cover all the coronaviruses, but tomorrow's coronaviruses
• 1:15:34
  Speaker 1: as well. It's a new type of coronavirus vaccine. It's
• 1:15:38
  Speaker 1: past its first test in humans, and the idea is
• 1:15:43
  Speaker 1: here that it could protect us from other coronaviruses. That
• 1:15:49
  Speaker 1: a viruses that typically come over from bats. Unlike traditional
• 1:15:55
  Speaker 1: vaccines that target a specific virus strain, this vaccine was
• 1:15:59
  Speaker 1: designed to provide across wide the white subico coronavirus family.
• 1:16:08
  Speaker 1: This group includes a covid, the SAWS COVID two, the
• 1:16:15
  Speaker 1: one responsible of COVID nineteen, as well as SAWS, the
• 1:16:20
  Speaker 1: original SAWS, and related coronaviruses found in bats that could
• 1:16:24
  Speaker 1: potentially spill over to humans in the future. Now the
• 1:16:30
  Speaker 1: vaccine was designed with the help of AI. It's a
• 1:16:34
  Speaker 1: new approach to the vaccine development. Instead of focusing again
• 1:16:37
  Speaker 1: on a known virus, research use an artificial intelligence and
• 1:16:42
  Speaker 1: computer modeling to create a super antigen capable of triggering
• 1:16:46
  Speaker 1: immunity against many related viruses at once. The antigen is
• 1:16:52
  Speaker 1: active is active ingredient in a vaccine that trains the
• 1:16:56
  Speaker 1: immune system to recognize and response to infection. By then
• 1:17:00
  Speaker 1: to find generic features shared across all these coronavirus strains,
• 1:17:06
  Speaker 1: scientists designed a synthetic antigen intended to provide broad protection,
• 1:17:10
  Speaker 1: including against viruses that have not yet emerged. That is
• 1:17:16
  Speaker 1: really cool. That is really really cool stuff. And again,
• 1:17:20
  Speaker 1: if if, if, just the politics would be kept out
• 1:17:23
  Speaker 1: of kept out of science. There's so much potential for
• 1:17:30
  Speaker 1: improving human life and and dealing with you know, dealing
• 1:17:35
  Speaker 1: with disease and extending life and everything else. All Right,
• 1:17:47
  Speaker 1: let's see yeh, all right, that's for another day. We'll
• 1:17:58
  Speaker 1: get to that. All right, That, my friends, is the
• 1:18:01
  Speaker 1: news for this Thursday, June eleventh. Thank you, thank you,
• 1:18:05
  Speaker 1: thank you for being here. We will turn out to
• 1:18:09
  Speaker 1: our super chat. I see Andrew has made an appearance. Okay,
• 1:18:12
  Speaker 1: I'm eager to write what read what Andrew has said.
• 1:18:15
  Speaker 1: We've missed Andrew. I've mentioned that in a few shows,
• 1:18:19
  Speaker 1: but he is back, which is nice. All right. A
• 1:18:24
  Speaker 1: few reminders Stickers. Stickers is a way for you to
• 1:18:29
  Speaker 1: make a contribution towards the growth and success of this show.
• 1:18:34
  Speaker 1: The show could not exist without support from you. I
• 1:18:38
  Speaker 1: couldn't do this without your financial support. I live off
• 1:18:42
  Speaker 1: of this and the speaking I do, but basically the
• 1:18:46
  Speaker 1: speaking and this is what I live off of. So
• 1:18:51
  Speaker 1: you know, your super chats and your stickers are what
• 1:18:54
  Speaker 1: make it possible for me to do this. So if
• 1:18:57
  Speaker 1: you gain a value from this, please show reciprocacity trade
• 1:19:03
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• 1:19:10
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  Speaker 1: right now, now, right now. We've not even covered the
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  Speaker 1: a lot of the material and the program, and check
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  Speaker 1: it out. I think I think you'll find it super
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  Speaker 1: dosubstick dot com. All right again, I'll wryting you Patreon, Yeah, Patreon.
• 1:22:36
  Speaker 1: All right, Andrew is back with one hundred dollars questions.
• 1:22:39
  Speaker 1: So wow, all right, here's Andrew Hope all as well.
• 1:22:45
  Speaker 1: I fell into a bit of an abyss let my job,
• 1:22:48
  Speaker 1: taking time off assessing whether or not to leave an
• 1:22:52
  Speaker 1: industry I grew up in for twenty four years, gained
• 1:22:57
  Speaker 1: gained skills and experience that earn a good income. Advice
• 1:23:02
  Speaker 1: for considerations to analyze in such a decision, well as
• 1:23:07
  Speaker 1: you know, I think I've got some rusful life that
• 1:23:12
  Speaker 1: are relevant here for you to go back and listen to. Maybe,
• 1:23:16
  Speaker 1: But yeah, I mean this is a tough one. Considerations
• 1:23:21
  Speaker 1: are not how much you've invested. So here's the thing
• 1:23:27
  Speaker 1: you should ignore. Here's the thing you should ignore. You
• 1:23:32
  Speaker 1: should igno everything you put into this career. You should
• 1:23:35
  Speaker 1: ignore all the time and effort and money you've invested
• 1:23:38
  Speaker 1: in it. We call that in finance sunk cost. In
• 1:23:44
  Speaker 1: terms of the poll, you'llno it. You don't ignore it.
• 1:23:49
  Speaker 1: In other context. We'll get to that in a minute.
• 1:23:51
  Speaker 1: But yougno it. In terms of oh, I've done this
• 1:23:53
  Speaker 1: for twenty four years, I need to continue. I've invested
• 1:23:55
  Speaker 1: twenty four years of my life. I have to continue.
• 1:23:57
  Speaker 1: None of that is true. Indeed, people constantly make bad
• 1:24:03
  Speaker 1: decisions in investments, in life, decisions in every aspect of life.
• 1:24:09
  Speaker 1: I've been married for twenty years. Might as well see
• 1:24:11
  Speaker 1: it through. You know, in marriage and a lot of things,
• 1:24:14
  Speaker 1: the sun cost fallacy that if I sunk all this
• 1:24:18
  Speaker 1: cost and I'd have to continue. No, the sun costs irrelevant.
• 1:24:23
  Speaker 1: You are now standing at the beginning of life. You
• 1:24:28
  Speaker 1: are now evaluating the future, the past, is only relevant
• 1:24:33
  Speaker 1: in that it is providing you with information about the future. So,
• 1:24:37
  Speaker 1: for example, what are my career prospects at this point
• 1:24:44
  Speaker 1: in this industry or in other industries? And here the
• 1:24:51
  Speaker 1: past experience and knowledge that you have is relevant. But
• 1:24:54
  Speaker 1: what can I expect in the future in terms of
• 1:24:56
  Speaker 1: a career, in terms of interest, value creation, and in
• 1:25:02
  Speaker 1: terms of renumeration. What can I expect if I stay
• 1:25:06
  Speaker 1: with this particular career to what extent is the knowledge
• 1:25:10
  Speaker 1: and experience I have relevant for other careers? You know,
• 1:25:16
  Speaker 1: But it's forward looking, not backward looking. Forward looking. And
• 1:25:22
  Speaker 1: then the question is why did I bone out? That
• 1:25:31
  Speaker 1: requires a lot of introspection. What is it that I
• 1:25:34
  Speaker 1: hated about the job? Why did I leave it? What
• 1:25:39
  Speaker 1: is it that I like? What is it that I
• 1:25:40
  Speaker 1: don't like about this particular industry? What alternatives are they?
• 1:25:46
  Speaker 1: What do I think I like and dislike about them?
• 1:25:50
  Speaker 1: And really evaluate all the different options coolly, rationally based
• 1:25:57
  Speaker 1: on whatever data you can bring forward. Now, some data
• 1:26:00
  Speaker 1: you won't have. You don't know what day to day
• 1:26:04
  Speaker 1: work will be like in some of the industries that
• 1:26:06
  Speaker 1: you haven't been in, But gather as much information as
• 1:26:09
  Speaker 1: you can. But the focus should be what should I
• 1:26:15
  Speaker 1: do now to maximize my happiness, to maximize my productiveness,
• 1:26:23
  Speaker 1: to maximize my you know, my well being over the
• 1:26:29
  Speaker 1: next ten twenty thirty years, over the rest of my life.
• 1:26:35
  Speaker 1: And that requires really understanding what your options are, really
• 1:26:42
  Speaker 1: understanding what you like and what you don't like, what
• 1:26:45
  Speaker 1: was good for you, and what was and good for you,
• 1:26:47
  Speaker 1: and what you need and what you really want to
• 1:26:51
  Speaker 1: avoid if you're going to be successful at happiness. So
• 1:26:58
  Speaker 1: it really needs the introspection, the introspective work about why
• 1:27:04
  Speaker 1: you left the job, what is it you didn't like
• 1:27:06
  Speaker 1: about it, and so that you don't get into a
• 1:27:11
  Speaker 1: different job, a different type of work that is that
• 1:27:15
  Speaker 1: has the same pitfalls. So future oriented, put all the
• 1:27:23
  Speaker 1: options down in front of you and try to evaluate
• 1:27:27
  Speaker 1: evaluate them rationally, calmly, without you know, without being stuck
• 1:27:35
  Speaker 1: in a sense, so without feeling obligated to the past.
• 1:27:40
  Speaker 1: You're not obligated to the past. You're not obligated to
• 1:27:43
  Speaker 1: Oh but I studied this in school. Oh, I you know,
• 1:27:47
  Speaker 1: this is what I've worked at for twenty four years. Irrelevant.
• 1:27:50
  Speaker 1: You're obligated to your future. What is going to lead
• 1:27:54
  Speaker 1: to a better future? So you know, what else can
• 1:28:07
  Speaker 1: I tell you. I mean, I think that's the main
• 1:28:09
  Speaker 1: part of it. I'm sorry to hear that you fell
• 1:28:13
  Speaker 1: into an abyss. That sounds bad. We've missed you here.
• 1:28:16
  Speaker 1: It's been a few months and I was a little worried.
• 1:28:22
  Speaker 1: I thought you were just taking a break from the
• 1:28:23
  Speaker 1: IRN Bookshow for a while. But so it's good to
• 1:28:28
  Speaker 1: see you back. And you know, it's twenty four years
• 1:28:34
  Speaker 1: of a career. That's good. You know, somebody once told me,
• 1:28:37
  Speaker 1: a very wise man once told me ten years, ten
• 1:28:40
  Speaker 1: years doing one thing. That's about enough. After ten years,
• 1:28:43
  Speaker 1: you should shift change. Life is too short to be
• 1:28:47
  Speaker 1: doing the same thing over and over again. So one
• 1:28:50
  Speaker 1: way to think about this, Andrew, is with excitement of
• 1:28:53
  Speaker 1: a new chapter, of doing something new. I think that
• 1:29:00
  Speaker 1: is you know, try to frame it in terms of
• 1:29:06
  Speaker 1: an exciting prospects for the future, rather than on the
• 1:29:11
  Speaker 1: end of something you did, or the or the past again.
• 1:29:15
  Speaker 1: Future orientation. All right, how do you get over a
• 1:29:23
  Speaker 1: massive pay cut? Well, I mean that's hot. You know,
• 1:29:28
  Speaker 1: a massive pay cut is no question is hot. It's
• 1:29:33
  Speaker 1: a question of you know, what is the trade off? Right,
• 1:29:40
  Speaker 1: It's certainly not you know, it's not worth and I
• 1:29:44
  Speaker 1: don't know the circumstances. You married, you have kids, do
• 1:29:47
  Speaker 1: you have a mortgage? I mean, what are the what
• 1:29:51
  Speaker 1: are the you know what. I don't know what the
• 1:29:53
  Speaker 1: consequences of of the of the massive pay cut, you know,
• 1:29:58
  Speaker 1: and what kind of responsi abilities you have in that context.
• 1:30:03
  Speaker 1: But you just got to you just got to focus
• 1:30:07
  Speaker 1: on your own happiness and if that means a pay cat,
• 1:30:10
  Speaker 1: that means a pay cat. You've got to focus on
• 1:30:15
  Speaker 1: the future. And you know, maybe if you find an
• 1:30:18
  Speaker 1: alternative profession, you find something you love alternatively, maybe ultimately
• 1:30:23
  Speaker 1: it won't mean a pay cut. Maybe your pay will
• 1:30:27
  Speaker 1: even be larger because you'll be loving what you do.
• 1:30:32
  Speaker 1: But I wouldn't make pay the primary consideration. It is
• 1:30:38
  Speaker 1: a consideration, particularly if you have commitments, but I wouldn't
• 1:30:42
  Speaker 1: make it a primary And it's quite possible that if
• 1:30:48
  Speaker 1: you go out there and you try some other things
• 1:30:50
  Speaker 1: for a year and they don't work out, you could
• 1:30:52
  Speaker 1: come back to this profession. I don't know, but it's
• 1:30:56
  Speaker 1: it's possible. If not now, when if you don't do
• 1:31:00
  Speaker 1: it now. Okay, so twenty four years. So what you're
• 1:31:03
  Speaker 1: in the mid forties, if you're not gonna do in
• 1:31:05
  Speaker 1: your mid forties. When are you gonna do it? You're
• 1:31:07
  Speaker 1: not gonna do it. You're not gonna make the change
• 1:31:08
  Speaker 1: in your fifties and sixties. Now's the time, and you've
• 1:31:11
  Speaker 1: still got half your life in front of you. So
• 1:31:17
  Speaker 1: you know, if you're going to bite the bullet, now
• 1:31:19
  Speaker 1: is the time to bite the bullet. So the Piacott
• 1:31:25
  Speaker 1: is the hardest part. But you know, again, I don't
• 1:31:29
  Speaker 1: know the circumstances, and I don't know what the options are,
• 1:31:32
  Speaker 1: what alternatives are, and how big of a Pickott, and
• 1:31:34
  Speaker 1: how sustained is the pecott? Does the pick had last forever?
• 1:31:41
  Speaker 1: All right? Michael says, fifty dollars. Thank you, Michael, and
• 1:31:46
  Speaker 1: thank you Andrew, thank you for the support. Michael says,
• 1:31:49
  Speaker 1: within the next fifty to one hundred years, I do
• 1:31:51
  Speaker 1: believe the culture will change in an objective's direction, although
• 1:31:55
  Speaker 1: within the next twenty years we may face economic collapse
• 1:31:57
  Speaker 1: and end up in a gulag kind of re education camp. Yeah,
• 1:32:02
  Speaker 1: I mean all of that is true. I doubt that
• 1:32:05
  Speaker 1: we end up in a gulag. I doubt that we
• 1:32:06
  Speaker 1: end up in read education camps. Again, I much more
• 1:32:10
  Speaker 1: think that we're gonna putter around and somehow limp limp
• 1:32:15
  Speaker 1: forward or limp sideways, or you know, stagnate our way
• 1:32:21
  Speaker 1: through the future. But yes, I think within the next
• 1:32:25
  Speaker 1: fifty to one hundred years we do win, or at
• 1:32:28
  Speaker 1: least we start winning. All right, guys, we're only twenty
• 1:32:33
  Speaker 1: nine dollars short of the second the first hour goal,
• 1:32:36
  Speaker 1: so let's at least make that twenty nine bucks in
• 1:32:39
  Speaker 1: the next ten to fifteen minutes would be really nice.
• 1:32:43
  Speaker 1: Stick as we've done a bunch of stickers, Jasper and
• 1:32:48
  Speaker 1: Jasper again to Jasper's thank you, stickers, Normative Novative, ran
• 1:32:52
  Speaker 1: Roid and Greg and Roland and Carolina thank you, and
• 1:33:00
  Speaker 1: Darlean thank you and eaesive esive Yeah, thank you guys,
• 1:33:08
  Speaker 1: thanks for the stickers. And Molten's Splendik just came in
• 1:33:11
  Speaker 1: with fifty dollars question. Thank you Moulten Splendor really appreciate it.
• 1:33:15
  Speaker 1: As long as we have a mixed economy, words like freedom,
• 1:33:18
  Speaker 1: self interest less if you capitalism don't resonate. What percentage
• 1:33:22
  Speaker 1: do you think are afraid of surviving on their own or
• 1:33:25
  Speaker 1: one to be taken care of by government? I think
• 1:33:28
  Speaker 1: a large percentage. I think there's a case to be
• 1:33:31
  Speaker 1: made that people just don't right now have the psychology
• 1:33:37
  Speaker 1: or in other words, they don't have the self esteem
• 1:33:41
  Speaker 1: for freedom. Freedom acquires self esteem. Feedom requires the knowledge,
• 1:33:47
  Speaker 1: the confidence, the self assuredness. I can survive in this world,
• 1:33:52
  Speaker 1: I can achieve, I can be successful. So many people,
• 1:33:58
  Speaker 1: I mean what, almost fifty son of Americans gets something
• 1:34:01
  Speaker 1: from the government, and a big chunk of the ones
• 1:34:05
  Speaker 1: who don't don't mind having a safety net just in
• 1:34:09
  Speaker 1: case something bad happens to them. And a lot of it,
• 1:34:14
  Speaker 1: or some of it at least, is associated with fear. Now,
• 1:34:19
  Speaker 1: some of it is associated with altruism and philosophy and everything,
• 1:34:23
  Speaker 1: but some of it's definitely associated with fear, an associated
• 1:34:26
  Speaker 1: with the psychology, and of not so muchs've been taken
• 1:34:31
  Speaker 1: care of by government as wanting to have a safety net.
• 1:34:35
  Speaker 1: And this is the regulatory state as well. Why do
• 1:34:38
  Speaker 1: we have all the regulations we have? Why do people
• 1:34:39
  Speaker 1: buy into it? Keeps us safe, It prevents those greedy
• 1:34:43
  Speaker 1: businessmen from doing crazy stuff that will kill us all.
• 1:34:48
  Speaker 1: So altruism and altruism, of course leads to fear. But
• 1:34:55
  Speaker 1: more importantly than that, even an educational system that does
• 1:34:59
  Speaker 1: not teach kids to think that that does not encourage
• 1:35:05
  Speaker 1: thinking and developing of the thinking skills that lead and
• 1:35:11
  Speaker 1: does not celebrate achievement. The salvation of achievement and the
• 1:35:16
  Speaker 1: elevation of thinking skills. These are things that lead one
• 1:35:19
  Speaker 1: to have self esteem. Well, if you have an educational
• 1:35:25
  Speaker 1: system that retards kids self esteem, it's going to be
• 1:35:31
  Speaker 1: very hard to establish freedom, to establish capitalism. This is
• 1:35:40
  Speaker 1: why the most important area that we need to take over,
• 1:35:44
  Speaker 1: the most im important area to privatize these most important
• 1:35:47
  Speaker 1: area that we need to focus on is on education.
• 1:35:52
  Speaker 1: And and you know, in terms of objectivism, get to
• 1:35:56
  Speaker 1: people when they're young, give them the tools when they're young,
• 1:35:59
  Speaker 1: because the older they get, the harder it is. The
• 1:36:02
  Speaker 1: harder it is because of all these other factors. Thank
• 1:36:08
  Speaker 1: you Multon's plan to really appreciate that. Michael says, interesting
• 1:36:11
  Speaker 1: that Canada has a much more los e fe immigration
• 1:36:14
  Speaker 1: policy than we do, combined with crushing high taxes. How
• 1:36:19
  Speaker 1: does that even out? Yeah, I mean it is pretty amazing.
• 1:36:23
  Speaker 1: But it's amazing that it seems like the left has
• 1:36:26
  Speaker 1: a much more rational immigration policy than the right does.
• 1:36:29
  Speaker 1: I mean, the left, which wants control of the economy,
• 1:36:32
  Speaker 1: it really doesn't make any sense. But it's true partially
• 1:36:37
  Speaker 1: because the left wants to views immigration as a form
• 1:36:42
  Speaker 1: of sacrificing to the third world. You know, by allowing
• 1:36:47
  Speaker 1: them to come to America, we're sacrificing and helping them,
• 1:36:51
  Speaker 1: which is the sick way of thinking of immigration. But
• 1:36:55
  Speaker 1: that motivates them and that results in a better strategy
• 1:36:59
  Speaker 1: in some way. But a big part of the fact
• 1:37:04
  Speaker 1: that we in America don't have a strategy is what
• 1:37:09
  Speaker 1: I said earlier in the show. We just don't have
• 1:37:11
  Speaker 1: a strategy about anything. We don't have a strategy about
• 1:37:15
  Speaker 1: fixing our deficits. You know, Canada in the nineteen nineties
• 1:37:18
  Speaker 1: had massive government deficits and was on the verge of bankruptcy,
• 1:37:23
  Speaker 1: and they actually cut government spending. They actually engaged in
• 1:37:27
  Speaker 1: the activity of cutting government spending. Sweden did the same
• 1:37:32
  Speaker 1: thing in the nineties. The United States isn't capable of
• 1:37:36
  Speaker 1: doing stuff like that. We just don't want to think
• 1:37:40
  Speaker 1: long term. We don't want to give up on We
• 1:37:43
  Speaker 1: don't give up any goodies. We're afraid of challenging the
• 1:37:48
  Speaker 1: people with some I don't know a little bit of
• 1:37:52
  Speaker 1: rationality and responsibility and forward thinking. I mean, think about
• 1:37:57
  Speaker 1: the debate, think about what politicians to talk about. Most
• 1:38:00
  Speaker 1: of it's irrelevant, most of it's stupid, most of this
• 1:38:04
  Speaker 1: cultural fight which has nothing to do with for most
• 1:38:08
  Speaker 1: of us, with the real issues that need to be dealted.
• 1:38:14
  Speaker 1: So there's just no adults in the room. It's another
• 1:38:16
  Speaker 1: way of thinking about we just have no adults in America.
• 1:38:19
  Speaker 1: For whatever reason, Canada has more adults. They figured out
• 1:38:23
  Speaker 1: an immigration strategy. It might not be perfect better than ours. Wes,
• 1:38:32
  Speaker 1: thank you for the stake of fifty dollars. Thank you
• 1:38:34
  Speaker 1: think you think you really appreciate that?
• 1:38:38
  Speaker 3: All right?
• 1:38:38
  Speaker 1: Woman? Can you envision alternative methods to discover natural law
• 1:38:43
  Speaker 1: other than other than parliament's Which legislative alternative would be feasible? Well,
• 1:38:51
  Speaker 1: parliaments don't discover natural law, and I don't even know
• 1:38:54
  Speaker 1: what you mean by natural law. You know, natural law
• 1:39:00
  Speaker 1: rights are discovered by philosophers, not by parliaments. Parliaments implement
• 1:39:06
  Speaker 1: laws to you know, to codify those rights. But parliaments
• 1:39:14
  Speaker 1: don't discover natural law. Natural law requires philosophy philosophers to do,
• 1:39:20
  Speaker 1: and all the parliament does is find figure out how
• 1:39:25
  Speaker 1: to apply them in the context of a legal system.
• 1:39:30
  Speaker 1: Is parliament the best way to do it. Yeah, but
• 1:39:34
  Speaker 1: a parliament that is focused on just that, not discovery. God,
• 1:39:41
  Speaker 1: we don't want them discovering anything. On application, application of
• 1:39:45
  Speaker 1: the principle of individual rights properly understood to the verse
• 1:39:51
  Speaker 1: realm in which they might be violated, and figuring out
• 1:39:56
  Speaker 1: ways to protect them. That's what parliament you do. And
• 1:40:01
  Speaker 1: I don't know what alternatives there would be. I mean,
• 1:40:04
  Speaker 1: you could think about alternatives to structuring parliaments. Although I
• 1:40:07
  Speaker 1: like the two house system, a House and a senate
• 1:40:11
  Speaker 1: kind of thing. It gives a presentation to the people.
• 1:40:16
  Speaker 1: I think that's the best way to do it, and
• 1:40:19
  Speaker 1: of course the judiciary is a way to check the
• 1:40:22
  Speaker 1: power of the parliament to make sure it's not going
• 1:40:25
  Speaker 1: off track. Gradive says Trump gonna sign deal with Iran eventually,
• 1:40:32
  Speaker 1: worse than Obama's. I agree. Ilon gonna have nukes maybe soon,
• 1:40:37
  Speaker 1: but the good works will win in the long run. Yeah,
• 1:40:41
  Speaker 1: unless we blow ourselves to smithereens. I agree with most
• 1:40:44
  Speaker 1: of that, although I think I don't think Iran will
• 1:40:46
  Speaker 1: have nukes very soon. I think Israel will do everything
• 1:40:48
  Speaker 1: its power to stop them from having the nukes. I
• 1:40:52
  Speaker 1: recommended song by Roman Bob Bud no deal with the Devil.
• 1:40:58
  Speaker 1: I have no idea what that means, Bob, but maybe
• 1:41:01
  Speaker 1: the group No Deal with the Devil is the name
• 1:41:03
  Speaker 1: of the song. Check it out, guys. According to Roman,
• 1:41:06
  Speaker 1: all right the profit. Don't investors think long term? Why
• 1:41:10
  Speaker 1: does the market go up over the deals with Iran?
• 1:41:13
  Speaker 1: Shouldn't it be the opposite if you think about the
• 1:41:16
  Speaker 1: consequences and benefits to the world. If you ran who
• 1:41:20
  Speaker 1: is more free, well maybe it would go up if
• 1:41:24
  Speaker 1: the market believed that Trump actually going to war men
• 1:41:29
  Speaker 1: to victory. The market is responding more to the economics
• 1:41:36
  Speaker 1: of a dragged out war in which the command in
• 1:41:40
  Speaker 1: chief has no strategy and refuses to use military for
• 1:41:44
  Speaker 1: US to open up the straits of homos. They are
• 1:41:48
  Speaker 1: evaluating a deal is better than that, and maybe they're right.
• 1:41:54
  Speaker 1: For the economic numbers, they might be right. Markets usually
• 1:42:00
  Speaker 1: price long term, but they pricing cash flow, and it
• 1:42:04
  Speaker 1: might be true that for cash flows in the next
• 1:42:07
  Speaker 1: ten years, a deal is better than a no victory war.
• 1:42:14
  Speaker 1: I think if Trump was committed to victory and and
• 1:42:17
  Speaker 1: and could convince the markets he was, then that would
• 1:42:21
  Speaker 1: be a winning strategy. I'm just I think the markets
• 1:42:26
  Speaker 1: are too smart and they know he's not committed to victory.
• 1:42:31
  Speaker 1: Harrison no virtue in the in idle hands. The law
• 1:42:35
  Speaker 1: of life by feed rate command. What the song explains
• 1:42:39
  Speaker 1: is that the law of life is to move. Yes,
• 1:42:42
  Speaker 1: that is the law of life. Movement, progress, growth, that's life.
• 1:42:51
  Speaker 1: Ali Stickers were working for me. So sending this as
• 1:42:54
  Speaker 1: a thank you, thank you, Allie appreciated. Jason, what do
• 1:42:57
  Speaker 1: you know about capturing CO two and turning it into
• 1:43:01
  Speaker 1: jet fuel? The liberal governor of Washington was in town
• 1:43:05
  Speaker 1: to announce a new plant in our city. I mean,
• 1:43:08
  Speaker 1: there's all kinds of things you can do with COE two.
• 1:43:10
  Speaker 1: I don't know about jet fuel, but you can turn
• 1:43:11
  Speaker 1: it into I think there is. I did read something
• 1:43:14
  Speaker 1: about a process that does that. You can turn into water.
• 1:43:18
  Speaker 1: There's different things you can do with COEO two. My
• 1:43:21
  Speaker 1: guess is the energy, the energy required to get that
• 1:43:24
  Speaker 1: process is going to produce more CO two than your saving.
• 1:43:29
  Speaker 1: But I'm not sure. There's a lot of companies that
• 1:43:32
  Speaker 1: have worked on trying to get capturing CO two and
• 1:43:38
  Speaker 1: uh transform it into something useful. And I do remember
• 1:43:43
  Speaker 1: a story about that doing that for fuel, but I
• 1:43:47
  Speaker 1: can't vouch for that. Uh. Sebastian says, you're my favorite
• 1:43:53
  Speaker 1: greedy member of the Chosen People. Bernie Sanders is my
• 1:43:56
  Speaker 1: least favorite. Oh, they're probably even more least favorite. But
• 1:44:03
  Speaker 1: Bernie Sander is pretty bad. But I'm glad to be
• 1:44:06
  Speaker 1: your favorite, uh Jess. But listening to almost every single
• 1:44:10
  Speaker 1: show since October seventh, I have some value for value
• 1:44:13
  Speaker 1: to make up for. But I will come around when
• 1:44:16
  Speaker 1: I get a full time job or publish my book,
• 1:44:19
  Speaker 1: which ever makes me money. Sounds good, Jess, But I
• 1:44:22
  Speaker 1: appreciate that. Thank you, thank you. Uh. Fudrocker, Fudrockers, Fudrockers.
• 1:44:32
  Speaker 1: Thoughts on melais automated company's bill allowing one hundred percent
• 1:44:37
  Speaker 1: AI run corps with zero human owners, who carries the
• 1:44:40
  Speaker 1: legal liability if things go wrong. I don't know, good question.
• 1:44:45
  Speaker 1: Let me let me look into that. Let me get
• 1:44:48
  Speaker 1: back to you, because I haven't. I haven't seen that,
• 1:44:51
  Speaker 1: so I guess I'm behind on that one. So let
• 1:44:56
  Speaker 1: me let me save your question and and get back
• 1:45:01
  Speaker 1: to you with it. Sorry about that, I say, I
• 1:45:05
  Speaker 1: don't know, and I don't know one of my virtues.
• 1:45:09
  Speaker 1: I think, all right, everybody, I will see you tomorrow.
• 1:45:14
  Speaker 1: Thank you to all the you know, stick of people,
• 1:45:17
  Speaker 1: particularly to West. Thank you, to Molten Splendor, and to
• 1:45:22
  Speaker 1: Andrew and Andrew, it's good to have you back, and
• 1:45:26
  Speaker 1: thank you, and you know, of course to Michael who
• 1:45:31
  Speaker 1: is always here. So thank you guys, and I will
• 1:45:34
  Speaker 1: see you guys tomorrow. Bye, everybody,