Latest / Yaron Brook Show / SCOTUS Rules on Tariffs; Board of Peace; Trump; GDP; Hegseth; Gaza; Tucker | Yaron Brook Show
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- 0:02Speaker 1: A lot of what are the principles of actually self
- 0:08Speaker 1: interest and individual ones?
- 0:14Speaker 2: This is the show, oh height everybody, welcome to your
- 0:21Speaker 2: one book show on this uh Friday, February twentieth, the date.
- 0:27Speaker 1: The Supreme Court came down. Finally, I think I know
- 0:31Speaker 1: why it's taking this so long. Finally with the decision
- 0:34Speaker 1: on the Tiff case, and it is, uh, it's quite something.
- 0:42Speaker 1: We'll we'll we'll get to all the details, at least
- 0:46Speaker 1: not all the details. The details are able to glean
- 0:50Speaker 1: from a decision made about three hours ago with me
- 0:53Speaker 1: teaching class in the middle. So what if I been
- 0:56Speaker 1: able to glean this is this is going to be
- 1:00Speaker 1: looked on, examinated, reviewed, analyzed, I think for days and
- 1:05Speaker 1: weeks to come because of the complexity of of all
- 1:10Speaker 1: of this. But uh, you know, to be continued beyond
- 1:17Speaker 1: this anyway, The top line is that the court has
- 1:22Speaker 1: ruled the Trump's use of the i e e. P
- 1:27Speaker 1: A to impose tariffs is h is illegal. That is
- 1:33Speaker 1: they they've knocked it down. They basically said it is
- 1:37Speaker 1: a it is a misuse of the law. The law
- 1:40Speaker 1: does not provide the president with the authority to levy
- 1:45Speaker 1: taxes to levy tariffs on inputs in imports.
- 1:51Speaker 3: They do it for a bunch of different reasons, which
- 1:52Speaker 3: we'll get to.
- 1:54Speaker 1: They knock it down and basically relegates the decision you
- 2:00Speaker 1: know about tariffs, says that is a Congress's decision, as
- 2:05Speaker 1: you can expect. As you can expect, this is this
- 2:12Speaker 1: has Trump fuming, fuming, is furious. He's got a i
- 2:18Speaker 1: think press conference as we speak right now, or a
- 2:21Speaker 1: statement as we speak right now. He's got lutnique with
- 2:24Speaker 1: it with him, the pitbull, a complete idiot, but on
- 2:29Speaker 1: the side, and he's announcing that he's going to impose
- 2:33Speaker 1: the tariffs using a different, different section.
- 2:35Speaker 3: Anyway, we'll talk.
- 2:36Speaker 1: About all that. We'll talk about it all that, but
- 2:38Speaker 1: let's first talk about the decision itself.
- 2:41Speaker 3: So this is a six to three decision.
- 2:44Speaker 1: The the you know, the majority decision was written by
- 2:53Speaker 1: Judge Roberts, the Chief Justice of the Supreme Court. It's
- 2:58Speaker 1: relatively brief, it's twenty one pages. Five other justices joined
- 3:03Speaker 1: him in everything except one section of what he wrote.
- 3:11Speaker 3: Justice Gossage and Barrett.
- 3:13Speaker 1: Joined only the section dealing with a major question doctrine.
- 3:17Speaker 1: We'll get to what that is in a minute. Then
- 3:21Speaker 1: Justice Grossage writes a forty eight page concurring opinion, longer
- 3:27Speaker 1: than the main opinion, and we'll get I've got some
- 3:32Speaker 1: juicy segments out of that in a minute. That is probably,
- 3:35Speaker 1: of all of them, the most important of all the decisions,
- 3:38Speaker 1: because Justice Grossage is the most principled of all of
- 3:43Speaker 1: the all of the justices so far, you might not
- 3:47Speaker 1: always agree with him, but he's he's got something to say.
- 3:53Speaker 1: Justice Barrett writes a very short four page concurrence, basically
- 4:02Speaker 1: weakening her position on the Major Questions doctrine. Justice Kagan
- 4:09Speaker 1: writes a seven page concurrence, the primary purpose of which
- 4:13Speaker 1: is to challenge the use of the Major Questions doctrine.
- 4:17Speaker 1: And you know, because the Major Questions Doctrine has real
- 4:22Speaker 1: impact for democratic presidents in terms of how they use
- 4:29Speaker 1: how they use legislation, primarily regulatory agencies. And the three
- 4:35Speaker 1: liberal justices don't want to endorse a full throttle support
- 4:41Speaker 1: of the Major Questions doctrine. Justin Jackson writes a short
- 4:45Speaker 1: five page concurring opinion where she is the lone voice.
- 4:51Speaker 1: And you know, anyway, some argument about legislative reading of
- 5:00Speaker 1: the legislative history as the only tool for the site
- 5:03Speaker 1: in the case, again basically a.
- 5:05Speaker 3: Rejection of the major questions doctrine.
- 5:08Speaker 1: Then in the opposition, just as Thomas writes a thirteen
- 5:13Speaker 1: page descent that takes on the use of the major
- 5:18Speaker 1: questions doctrine on separation of powers grounds, so he is
- 5:23Speaker 1: defending the Trump administration, and we'll talk a little bit
- 5:27Speaker 1: about Ghostitch's objections to Thomas. And then Kavanaugh, who's also
- 5:33Speaker 1: in opposition, writes a massive sixty three page descent that
- 5:39Speaker 1: basically defends the administration's position in all respects, beginning with
- 5:44Speaker 1: the premise that taffs are one of many means of
- 5:47Speaker 1: regulating inputs. So their statute under which I EEPA under
- 5:53Speaker 1: which Trump used, has something about regulating inputs imports.
- 5:58Speaker 3: Trump argued.
- 6:00Speaker 1: The Trump argument was that regulating imports meant includes tariffs.
- 6:07Speaker 1: Most of the judgess reject that interpretation, except for Kavanaugh.
- 6:13Speaker 1: Kevanaugh generally has the most, has the most I don't know,
- 6:21Speaker 1: pragmatic decision of all. I mean, a lot of it
- 6:24Speaker 1: has to do with the fact that this is going
- 6:28Speaker 1: to create chaos and this is this is not good and.
- 6:32Speaker 3: Anyway, but also the interpretation of the law it self.
- 6:36Speaker 1: I think the major decisions here have Kevinaugh and Ghossage.
- 6:40Speaker 1: I've read pieces of Gaostage, I haven't read I've read
- 6:43Speaker 1: only a little bit of Kevanaugh's. Uh so, uh, you know,
- 6:48Speaker 1: this is this is going to be study for a
- 6:50Speaker 1: long time because of all the different opinions here and
- 6:53Speaker 1: all the different disagreements that are.
- 6:55Speaker 3: Going on here.
- 6:56Speaker 1: It's hard to extrapolate from this any kind of broad
- 7:01Speaker 1: up principles that could apply to other laws. But in
- 7:08Speaker 1: this case, this is fantastic, you know, in the sense
- 7:13Speaker 1: that the ruling basically uphelds the rule of law, it
- 7:18Speaker 1: upholds the separation of powers, and on that basis, just
- 7:23Speaker 1: on that basis it should be celebrated. It will have
- 7:27Speaker 1: probably very little effect on actual tariffs, very little effect
- 7:31Speaker 1: on the economy. It's probably going to create a lot
- 7:33Speaker 1: of chaos and uncertainty and all kinds of stuff out there,
- 7:38Speaker 1: which will probably have negative consequences in the short run,
- 7:42Speaker 1: because Trump is likely the impost house in a different way,
- 7:47Speaker 1: you know, economically. Who knows what's going to happen of
- 7:50Speaker 1: all of this, But nothing I don't think much good.
- 7:52Speaker 1: But in terms of separation of powers, in terms of
- 7:56Speaker 1: rule of law. This is fantastic And again it's probably
- 8:01Speaker 1: the case that Ghostich's decision is the best here. But
- 8:04Speaker 1: I haven't read them all, there's no way, and I
- 8:07Speaker 1: haven't read the analysis of those who I respect to
- 8:10Speaker 1: who are going to read them all, uh, which which
- 8:13Speaker 1: I will over the next few days. So we'll return
- 8:15Speaker 1: to this as we go along. But there was a
- 8:18Speaker 1: few things that I do think worth uh you know,
- 8:23Speaker 1: talking about, and uh, let's let's let me just say
- 8:28Speaker 1: something about because it's going to keep coming about out
- 8:30Speaker 1: about what is the the uh this doctrine. They made
- 8:34Speaker 1: a question doctrine. So the major question doctrine is a
- 8:37Speaker 1: it's a Supreme Court established principle there requires federal agencies
- 8:42Speaker 1: to have clear, explicit congressional authorization for regulations with vast
- 8:49Speaker 1: economic and political significance. Now vast is again there's a
- 8:54Speaker 1: lot of subjectivity here, but but Tariff's clearly are vast, right.
- 9:00Speaker 1: So what the purpose of it is to prevent agencies
- 9:02Speaker 1: from relying on vague, old or implied powers for major
- 9:07Speaker 1: policy shifts. And this whole idea is to curb administrative outreach.
- 9:13Speaker 1: And really the key case here is West Virginia versus
- 9:15Speaker 1: the EPA, which challenged COVID nineteen mandates. But you know
- 9:21Speaker 1: this was a twenty twenty two decision, and this is
- 9:26Speaker 1: a big deal for Kavanaugh. Kavanaugh is a big believer
- 9:29Speaker 1: in agencies should only be should only be able to
- 9:34Speaker 1: do what Congress explicitly says they should do. They shouldn't
- 9:38Speaker 1: be able to write the law themselves. They should only
- 9:40Speaker 1: be able to do what explicitly said. So as it
- 9:44Speaker 1: applies to the ie e PA, it basically is the
- 9:47Speaker 1: IEEPA allows the government to decline emergency and do these
- 9:52Speaker 1: economic emergency and do these specific things. Those specific things
- 9:57Speaker 1: or what the executive can do, it can it can't
- 9:59Speaker 1: do other things like tariffs. So, just to just give
- 10:05Speaker 1: you a little bit more on this, courts assume Congress
- 10:07Speaker 1: does not delegate decisions of vast economic and political significance
- 10:10Speaker 1: to agencies unless the statute clearly says so. The purpose
- 10:18Speaker 1: is a clear statement rule that limits the administrative state
- 10:25Speaker 1: the executive and enforces the separation of powers by pushing
- 10:29Speaker 1: significant policy and decisions back to Congress. The doctrine has
- 10:34Speaker 1: been used to invalidate major federal actions, such as the
- 10:37Speaker 1: EPA's power plant regulations, the CDC's eviction moratorium, and OSHA's
- 10:42Speaker 1: vaccine mandates. You know, opponents argue that doctrine is not
- 10:49Speaker 1: firmly rooted in the Constitution, is inconsistently applied, allows courts
- 10:53Speaker 1: to substitute their policy preferences for those of expert agencies.
- 10:57Speaker 1: But the point here is if Congress wants something done,
- 11:01Speaker 1: Congress has to do it. It can't just delegate broad, vague,
- 11:06Speaker 1: unspecific authority to agencies as they have for now for decades,
- 11:10Speaker 1: and then for the agencies then to write the law.
- 11:12Speaker 1: That is not how our constitutional government works. That's not
- 11:16Speaker 1: how our separation of powers work. I think it's it's,
- 11:21Speaker 1: you know, within the context of the world in which
- 11:23Speaker 1: we live, it is a good doctrine, and you know,
- 11:28Speaker 1: it's it's the challenge to the Chevron era Chevron deference,
- 11:33Speaker 1: which was a ruling by Supreme Court in the nineteen eighties.
- 11:37Speaker 1: I think the basically said, we're giving deference to the
- 11:41Speaker 1: regulatory agency. The regulatory agency will interpret the law base
- 11:46Speaker 1: and we give deference to that. The court shouldn't challenge
- 11:48Speaker 1: the regulatory agencies. The executive branch has broad authority to
- 11:54Speaker 1: interpret law as they see.
- 11:55Speaker 3: Fit that is now out.
- 11:58Speaker 1: Basically, so this is very much a gasstage limit the
- 12:02Speaker 1: administrative state.
- 12:04Speaker 3: As much as possible.
- 12:07Speaker 1: All right. So, so a big part of this is
- 12:10Speaker 1: I E. E. P. A did not authorize tariffs, therefore
- 12:12Speaker 1: tariffs out. That is the that's the basis for the
- 12:16Speaker 1: big this decision. This is what Gosstich rights kind of
- 12:20Speaker 1: as a as an introduction, if you will, is a
- 12:23Speaker 1: big picture to this whole topic. Uh So, I'm just
- 12:29Speaker 1: going to read you from Gostich's concurrence. For those for
- 12:34Speaker 1: those who think it is important for the nation to
- 12:36Speaker 1: impose more tariffs, I understand that today's decision will be
- 12:39Speaker 1: it will be disappointing. All I can offer them is
- 12:43Speaker 1: that most major decisions affecting the rights and responsibilities of
- 12:47Speaker 1: American people, including the duty to pay taxes and tariffs,
- 12:52Speaker 1: a funnel through the legislative process for a reason. Yes,
- 12:57Speaker 1: legislating can be hard and take time, and yes it
- 13:01Speaker 1: can be tempting to bypass Congress when some pressing problem arises,
- 13:07Speaker 1: But the deliberative nature of the legislative process was the
- 13:10Speaker 1: whole point of its design. Through that process, the nation
- 13:16Speaker 1: can tap the combined wisdom of the people's peoples elected representatives,
- 13:22Speaker 1: not just that of one faction or man. The deliberation tempers, impulse,
- 13:30Speaker 1: and compromise, hammers disagreements into workable solutions, and because laws
- 13:36Speaker 1: must earn such broad supports to survive the legislative process,
- 13:42Speaker 1: they tend to endure, allowing ordinary people to plan their
- 13:47Speaker 1: lives in way that in ways that cannot when the
- 13:50Speaker 1: rules shift from day to day. In all, the legislative
- 13:55Speaker 1: process helps ensure each of us has a stake in
- 13:59Speaker 1: the laws that govern us and in the nation's future.
- 14:04Speaker 1: For some today, the weight of those virtues is apparent.
- 14:07Speaker 1: For others it may not seem so obvious. But if
- 14:12Speaker 1: history is any guide, the tables will turn and the
- 14:15Speaker 1: day will come when those disappointed by today's result will
- 14:19Speaker 1: appreciate the legislative process for the bulwark of liberty it is. Now.
- 14:29Speaker 1: You know, there's a lot missing from an analysis like this. Really,
- 14:32Speaker 1: what's missing here is principle and the whole notion of
- 14:37Speaker 1: rights and individual.
- 14:38Speaker 3: Rights and as a basis.
- 14:40Speaker 1: But granted that that's gone, I mean, it just is gone.
- 14:44Speaker 1: You can't expect the Supreme Court to elicit individual rights
- 14:49Speaker 1: or anything like that. So he talks about the duty
- 14:52Speaker 1: to pay taxes and tariffs. He talks about rights and responsibilities.
- 14:57Speaker 1: I hate that language, but give and all that, and
- 15:00Speaker 1: and and and and there's nothing here about rights. I mean,
- 15:04Speaker 1: what is what he is arguing is for the importance
- 15:09Speaker 1: of separation of powers, the importance of the legislative process
- 15:12Speaker 1: that takes time, that is hard, that takes deliberation and argument.
- 15:19Speaker 1: It's exactly what people like Trump want to get around.
- 15:21Speaker 1: It's exactly what authoritarians want to get around. They want
- 15:25Speaker 1: to be able to just decide and do. They want
- 15:27Speaker 1: to be able to act. They don't want to have
- 15:29Speaker 1: to pass laws. Laws take time, and they're hard, and
- 15:32Speaker 1: and and and there's a bunch of people who don't
- 15:35Speaker 1: agree with you, and you have to take them into
- 15:37Speaker 1: accounts and you might have to compromise with them and
- 15:39Speaker 1: all of that. That is what you know. The left
- 15:46Speaker 1: has always argued against a delimative legislative process.
- 15:52Speaker 3: Is studying with.
- 15:55Speaker 1: Studying with Roosevelt, right, Roosevelt tried to get his stuff
- 16:05Speaker 1: passed through basically executive control. He tried to get laws
- 16:09Speaker 1: pastor were clearly unconstitutional, and he tried to get them
- 16:13Speaker 1: hammered through In spite of the court, and when the
- 16:15Speaker 1: court opposed him, he threatened the court and tried to
- 16:17Speaker 1: overthrow it. And in that sense, he's the first kind
- 16:21Speaker 1: of authoritarian president, probably based on my understanding of American history. Really,
- 16:26Speaker 1: you know, in he didn't really, he didn't pack the court.
- 16:29Speaker 1: He threatened to pack the court. Really in American history,
- 16:33Speaker 1: so he you know it. It's this opposition to having
- 16:39Speaker 1: to go through the legislative process passing laws. Every authoritarian
- 16:44Speaker 1: hates that. Every authoritarian hates that. And while we believe,
- 16:50Speaker 1: I believe that much of the laws today on the books,
- 16:55Speaker 1: maybe most of the laws on the books today, I'll
- 16:58Speaker 1: go in for them overwhelming out of the laws in
- 17:00Speaker 1: the books today shouldn't really have passed constitutional muster.
- 17:04Speaker 2: Oh.
- 17:05Speaker 1: Actually, if you have a proper understanding of the Constitution
- 17:08Speaker 1: and the concept of individual rights unconstitutional, you can't just
- 17:13Speaker 1: brush them aside. It is certainly not. As a as
- 17:18Speaker 1: an executive, you have to undo the damage that was done,
- 17:23Speaker 1: and you have to undo the damage that was done
- 17:26Speaker 1: through a legislative process. And politicians hate that. People who
- 17:31Speaker 1: are president hate that. They want to get stuff done
- 17:35Speaker 1: as quickly as effectively as they can. And what ghostis
- 17:39Speaker 1: is implying here is Yeah, when it's your side, who's
- 17:42Speaker 1: the president, and you just gets stuff done, then yeah,
- 17:45Speaker 1: to hell with the legislation. Let's just get stuff done.
- 17:48Speaker 1: But which on the other side you want legislation is
- 17:51Speaker 1: you want to slow them down, you want to stop
- 17:53Speaker 1: them from.
- 17:53Speaker 3: Getting stuff done.
- 17:54Speaker 1: That's bad. And I think he's absolutely right and that
- 18:03Speaker 1: you know this is this is an important aspect of
- 18:06Speaker 1: the separation of powers and and kind of the different
- 18:09Speaker 1: roles of government. Government has. Uh, let's see, I have
- 18:14Speaker 1: a few, you know, kind of different pieces out of
- 18:20Speaker 1: the different decisions that I want to I want to
- 18:26Speaker 1: read to you. I think this is from Roberts. The
- 18:31Speaker 1: President asserts the extraordinary power to unilaterally impose tariffs of
- 18:35Speaker 1: unlimited amount, duration, and scope. In light of the breath,
- 18:39Speaker 1: history and constitutional context of that asserted authority, he must
- 18:44Speaker 1: identify clear congressional authorization to exercise it. I e e. P.
- 18:49Speaker 1: A's grant of authority to regulate importation falls short. I
- 18:56Speaker 1: e e p.
- 18:56Speaker 3: A contains no reference to tariffs or do.
- 19:00Speaker 1: The government points the no statute in which Congress use
- 19:04Speaker 1: the word regulate to authorize taxation, and until now, no
- 19:09Speaker 1: president has read the i e e PA to confer
- 19:12Speaker 1: such power. We claim no special competence in matters of
- 19:16Speaker 1: economics of foreign affairs. We claim only as we must,
- 19:21Speaker 1: the limited role assigned to us by Article three of
- 19:24Speaker 1: the Constitution. Fulfilling that role. We hold that the ie
- 19:30Speaker 1: e PA does not authorize the president to impose tariffs.
- 19:35Speaker 1: Now you can clap and give them a standing ovation.
- 19:38Speaker 1: That's absolutely right. I mean, that's the best we can expect,
- 19:41Speaker 1: I think from our courts today.
- 19:47Speaker 3: In a footnote, they are looking at.
- 19:51Speaker 1: Other tariffs, they're addressing other tariffs, and they say that
- 19:55Speaker 1: have been opposed by a president. Those tariffs were also
- 20:01Speaker 1: limited of limited amounts, duration and scope, right, noting that
- 20:06Speaker 1: the ten percent surcharge was described by President Nixon as
- 20:10Speaker 1: a temporary measure, was in effect less than five months,
- 20:14Speaker 1: applied only to articles which had been subject to prior
- 20:18Speaker 1: tariff concessions, and was capped at congressionally authorized rades, which
- 20:22Speaker 1: suggests that they are open to tariffs. It's just not
- 20:27Speaker 1: kind of the unlimited authority that Trump has taken on himself,
- 20:33Speaker 1: you know, to.
- 20:36Speaker 3: That is broad as broads it.
- 20:38Speaker 1: It is now one of the things that Gussich does
- 20:46Speaker 1: is Gorstich's opinion, takes on all the other opinions and
- 20:50Speaker 1: challenges them all, you know. He he, he takes on
- 20:56Speaker 1: He takes on Kagan over the fact that she claims
- 21:02Speaker 1: the major questions doctor and is a magical innovation.
- 21:05Speaker 3: Uh, you know.
- 21:06Speaker 1: He shows that it reaches back to the eighteenth century,
- 21:09Speaker 1: to English corporate law, American music, and a bunch of
- 21:12Speaker 1: other agency law and a bunch of other things. He
- 21:15Speaker 1: calls out Kagan and sort of my own Jackson for
- 21:18Speaker 1: reading statutory texts broadly, uh, when it came to the
- 21:23Speaker 1: vaccine mandate, eviction moratoriums, and student loan forgiveness. But suddenly
- 21:28Speaker 1: with the Trump tariff I E p A, suddenly they
- 21:32Speaker 1: they they want to draw it narrowly, say showing even
- 21:35Speaker 1: though they agree with him in this case, why didn't
- 21:38Speaker 1: you agree with me on the other cases? When when
- 21:41Speaker 1: democratic issues work for if if you're gonna, if you're
- 21:44Speaker 1: gonna interpret laws narrowly, interpret laws narrowly consistently, He writes,
- 21:51Speaker 1: why do I concurring colleagues read I E E p
- 21:54Speaker 1: A so much more narrowly then they have other broad
- 21:58Speaker 1: statutory terms found in other major legislation, addressing other emergencies.
- 22:05Speaker 1: So if you're gonna, if you're gonna do it, be consistent.
- 22:09Speaker 1: He's telling Kagan, Soda, Mario, and Jackson the leftist judges
- 22:15Speaker 1: in terms of uh, you know, yeah, yeah, I mean
- 22:26Speaker 1: he criticizes her criticism of the major question uh cases
- 22:32Speaker 1: again and and basically says she's got it wrong. Uh
- 22:36Speaker 1: and uh but you know, we'll get if it's important.
- 22:40Speaker 1: We can get into that in more detail in the
- 22:42Speaker 1: future show. Uh once I look more carefully at it.
- 22:47Speaker 1: But he's basically there to defend the major question doctor.
- 22:50Speaker 1: And as I said, this is grosstage, this is grossage, right.
- 22:55Speaker 1: So he writes, our system has separated powers and checks
- 23:00Speaker 1: and balances threatens to give way to the continual and
- 23:03Speaker 1: permanent accretion a power.
- 23:05Speaker 3: In the hands of one man. I guess who that
- 23:08Speaker 3: man is.
- 23:09Speaker 1: That is no recipe for republic. That was in part
- 23:16Speaker 1: of the section where it's criticizing Barrett.
- 23:18Speaker 4: Uh.
- 23:19Speaker 1: Then he goes into a criticism of Thomas and Kavanaugh.
- 23:25Speaker 3: But here's some stuff.
- 23:27Speaker 1: You know. Thomas is basically saying Congress can delegate all
- 23:32Speaker 1: the authority at once to the president, and he can
- 23:34Speaker 1: delegate you know everything. You know, he so Kavanaugh writes,
- 23:41Speaker 1: on his view, the only powers Congress may not delegate
- 23:44Speaker 1: of those that involved rules setting the conditions for the
- 23:49Speaker 1: deprivation of life, liberty, or property. Kavanaugh writes, from this rule,
- 23:54Speaker 1: it follows that Congress may give all its tariff powers
- 23:57Speaker 1: to the president because quote in voting as a matter
- 24:00Speaker 1: of privilege unquote. As a result, this case does not
- 24:05Speaker 1: implicate any separation of power concerns at all.
- 24:07Speaker 3: According to Thomas.
- 24:11Speaker 1: Ghost It says, it's a sweeping theory, one that would
- 24:14Speaker 1: require us to reimagine much of our case law. Addressing
- 24:18Speaker 1: Audico one's vesting clause, this is article one in the
- 24:21Speaker 1: Constitution about the powers the Congress has, and one that
- 24:25Speaker 1: presents difficulties of its own. He also writes later on,
- 24:30Speaker 1: the president is seeking to exploit questionable statutory language to
- 24:36Speaker 1: grandize his own power.
- 24:38Speaker 3: So Kavanaugh's ruthless here and.
- 24:42Speaker 1: Ruthless towards is the other justices towards the president, towards
- 24:49Speaker 1: the president's use of this law. His is a powerful rebuttal.
- 24:54Speaker 1: So for him, Barrett is weak. Kavanaugh leader just plain
- 24:59Speaker 1: out wrong.
- 25:01Speaker 3: Thomas is off the charts.
- 25:03Speaker 1: Wrong, and.
- 25:07Speaker 3: Yeah, this is what he is. This is how he's arguing.
- 25:12Speaker 1: All right, let's see what else do we want to
- 25:13Speaker 1: say about this. This is from an article by Scott Linskin.
- 25:25Speaker 1: It's what I don't even want this to be in Quote
- 25:26Speaker 1: got right. When the administration invoked IEP eight and post
- 25:29Speaker 1: sweeping tariffs on nearly all inputs, it stretched the nineteen
- 25:32Speaker 1: seventy seven Sanctions Law well beyond anything Congress intended. I
- 25:37Speaker 1: ee PA was designed to let presidents freeze assets and
- 25:40Speaker 1: restrict financial transactions during genuine emergencies. The law does not
- 25:45Speaker 1: function as a switch in the Oval office for presidents
- 25:48Speaker 1: to unilaterally rewrite virtually the entire tariff code passed by Congress.
- 25:53Speaker 1: The Quote's decision provides practical relief for Americans suffering from
- 25:58Speaker 1: the administration's ill advised tariffs. Businesses have been what whip
- 26:02Speaker 1: sawed by tariff rates, the change seemingly by the hour
- 26:06Speaker 1: during the Spring caaos. The Tax Foundation estimates that IEPA
- 26:10Speaker 1: tariffs increase taxes on American households by about one thousand
- 26:13Speaker 1: dollars in twenty twenty five, and will tack on another
- 26:16Speaker 1: one three hundred and twenty twenty six. The unpredictability, especially
- 26:21Speaker 1: for small businesses, was almost as damaging as the rates themselves.
- 26:25Speaker 1: But the end of IEPA tariffs does not mean an
- 26:29Speaker 1: end unilateral trade policy. The administration has already been eyeing
- 26:34Speaker 1: other largely overlooked statutes that could produce a similar result. First,
- 26:39Speaker 1: let's look at section.
- 26:41Speaker 3: One twenty two.
- 26:42Speaker 1: Now, let me know that this is already now been
- 26:46Speaker 1: mentioned by Trump in his whatever, in his statement about
- 26:51Speaker 1: the Supreme Court's decision, that this is probably what he's
- 26:55Speaker 1: going to be using. So let's see what it is.
- 27:01Speaker 1: Statue Section one twenty two of the Trade of the
- 27:05Speaker 1: Trade Act of nineteen seventy four. This provision empowers the
- 27:09Speaker 1: President to address large and serious balances of payment deficits
- 27:14Speaker 1: through input surcharges of up to fifteen percent import quotas,
- 27:20Speaker 1: and some governing combination of the two. That surely holds
- 27:23Speaker 1: considerable appeal to a president who US consistently and mistakenly
- 27:27Speaker 1: reeled against the alleged dangers of US trade deficits, so
- 27:33Speaker 1: he continues. As Van stan Vuga of the American Enterprise
- 27:37Speaker 1: institudent I explained in December in Foreign Policy, the administration
- 27:41Speaker 1: could replicate most of the IEEPA terraff structure through section
- 27:45Speaker 1: one twenty two in short order. Countries currently facing rates
- 27:49Speaker 1: above fifteen percent would see some reduction, but for every
- 27:53Speaker 1: other country the hit would be nearly identical. And crucially,
- 27:57Speaker 1: Section one twenty two does now Section one twenty two
- 28:01Speaker 1: doesn't require the lengthy investigations the other trade statues demand.
- 28:06Speaker 1: The president could act fast, but there's a catch. Section
- 28:09Speaker 1: one twenty two tabsts expire after one hundred and fifty
- 28:12Speaker 1: days unless Congress votes to extend them. How much of
- 28:15Speaker 1: a constraint this is, however, means to be seen. If
- 28:19Speaker 1: Congress declines to act, which I'm sure it will decline
- 28:22Speaker 1: to act in a sense that it needs I think
- 28:25Speaker 1: sixty votes to pass Senate and it's not going to
- 28:27Speaker 1: get him. It might not even get a majority, given
- 28:31Speaker 1: Republicans who opposed Hoarse. If Congress declines to act, administration could,
- 28:37Speaker 1: at least in theory, allow the travestare lapse, declare a
- 28:41Speaker 1: new balance of payments emergency, and restart the clock. The
- 28:45Speaker 1: maneuver would raise serious separation of powers concerns, but nothing
- 28:48Speaker 1: in the statue clearly forbids it. With the statue never
- 28:52Speaker 1: previously invoked, there's no judicial precedent to clarify its limits.
- 28:59Speaker 1: Trump could also use section three three eight. There's also
- 29:03Speaker 1: section three three eight and the tap of Act of
- 29:05Speaker 1: nineteen thirty, the famous Suit Holly Act that, like Section
- 29:09Speaker 1: one twenty two, is never been deployed. It authorizes the
- 29:12Speaker 1: President to impose tariffs of up to fifty percent on
- 29:16Speaker 1: imports from any country that discriminates against US commerce as
- 29:20Speaker 1: compared to other nations. The statue is remarkably short and vague.
- 29:25Speaker 1: It assigns a role to the US International Trade Commission,
- 29:28Speaker 1: which has a duty to ascertain that all that at
- 29:32Speaker 1: all times, to be informed whether discrimination is occurring, and
- 29:36Speaker 1: to bring the matter to the attention of the President,
- 29:39Speaker 1: together with recommendations. But whether this function functions as a
- 29:43Speaker 1: procedural prerequisite or merely an advisory channel is unclear. The
- 29:48Speaker 1: statue separately authorizes the President to post tariffs whenever he
- 29:51Speaker 1: shall find as a fact that discrimination exists. Does that
- 29:56Speaker 1: lack language empower the President to accur nilaterally or must
- 29:59Speaker 1: be wait for the Commission's finding?
- 30:02Speaker 3: The text doesn't say.
- 30:03Speaker 1: The Congressional Research Service has suggested the section three three
- 30:07Speaker 1: falls into the category of tariff authorities Tariff authorities that
- 30:11Speaker 1: do not contain requirements of a federal agency to conduct
- 30:15Speaker 1: an investigation and make certain findings before tariff may be imposed.
- 30:19Speaker 1: But this interpretation has never been tested by an administration,
- 30:23Speaker 1: any administration, or any court anyway, What and then what
- 30:28Speaker 1: counts as discrimination? Who knows the law doesn't really say
- 30:33Speaker 1: with any precision anyway, if he invokes this, this is
- 30:38Speaker 1: any if he invokes any of these things, it's going
- 30:41Speaker 1: to go back in front of the courts, and it'll
- 30:43Speaker 1: take a year to legislate, and even if they rule
- 30:45Speaker 1: that's unconstitutional, have another year of tariffs. They continue in
- 30:51Speaker 1: their article, unfettered use of Section one, twenty two and
- 30:54Speaker 1: one and three three eight, along with the better known
- 30:56Speaker 1: statues like Sestion three one two three two, could essentially
- 31:01Speaker 1: recreate the IEPA predicament. In practice, this means the president
- 31:05Speaker 1: can continue reshaping tax policy and the business environment on
- 31:09Speaker 1: a whim, redistributing hundreds of billions of dollars and imposing
- 31:14Speaker 1: pervasive uncertainty without express congressional authorization. The Court did important
- 31:20Speaker 1: work by reigning in the misuse of IEPA, but judicial
- 31:23Speaker 1: intervention can only go so far. Congress spent decades handing
- 31:27Speaker 1: off its constitutional trade authorities. That executive branch and those
- 31:31Speaker 1: delegations remain largely intact. Until lawmakers reclaim some of that
- 31:38Speaker 1: authority and add serious procedural safeguards, the risk of arbitrary
- 31:43Speaker 1: tariffs will continue. The Court did its job. Now Congress
- 31:49Speaker 1: needs to do its own. And that's the bottom line.
- 31:53Speaker 1: Congress needs to act. Trump is going to create chaos.
- 31:56Speaker 1: It's what he does. Trump will continue to find ways
- 32:00Speaker 1: he unilaterally do whatever he feels like doing, because that's
- 32:02Speaker 1: what he does. You know, Trump, before the ruling, before
- 32:09Speaker 1: the ruling came out earlier this morning, said without tariff's
- 32:13Speaker 1: everybody would be bankrupt. Everybody, the whole country would be bankrupt.
- 32:18Speaker 1: He believes this crap, he really does, or he has
- 32:22Speaker 1: convinced himself that he believes, or whatever.
- 32:24Speaker 3: He said it often enough. This is his religion.
- 32:28Speaker 1: Tariffs are and he will find a way to impose
- 32:30Speaker 1: them on us. He will raise our taxes, There's no
- 32:33Speaker 1: question about that. It's Congress is the only entity that
- 32:38Speaker 1: can actually rain him in. So now, again, there's a
- 32:46Speaker 1: lot to analyze in the court decision. Thomas's decision in
- 32:51Speaker 1: particular is bad, really bad. He's basically suggesting that tariffs
- 32:57Speaker 1: are not even attacks, which is just untrue. Cavanags is
- 33:04Speaker 1: really really a pragmatist, which is.
- 33:06Speaker 3: What you'd expect for Tavanaugh.
- 33:08Speaker 1: Cavanaugh a pagonist, you know, willingness to let the president
- 33:14Speaker 1: do whatever the hell he wants. So to be continued,
- 33:18Speaker 1: but again expect chaos, no surprise with Trump. Uh. The
- 33:27Speaker 1: other aspect of this, this is one more aspect that
- 33:30Speaker 1: I think is important uh to point out, is that.
- 33:38Speaker 3: Uh, what do you call it?
- 33:40Speaker 1: Another aspect of this is that companies that are going
- 33:50Speaker 1: to sue to get refunds, how the refund is going
- 33:53Speaker 1: to be allocated who they're going to be allocated to.
- 33:56Speaker 1: Big companies have lawyers to be able to go and
- 33:59Speaker 1: and ensue there and and and spend the money to
- 34:02Speaker 1: get the money back. Small businesses don't. Will well the
- 34:07Speaker 1: Treasury automatically issue refunds. Will it have to go through
- 34:10Speaker 1: the courts and through lawsuits? How is the refund process
- 34:14Speaker 1: going to happen?
- 34:15Speaker 3: Uh? You know who knows?
- 34:19Speaker 1: But uh, this is also going to create a lot
- 34:23Speaker 1: of chaos and a lot of primarily for small businesses.
- 34:26Speaker 3: Small businesses.
- 34:28Speaker 1: It's going to be the fight of twenty twenty six
- 34:31Speaker 1: is refunds. And again a major political flashpoint, and and
- 34:36Speaker 1: and it's and and that the harm is going to
- 34:38Speaker 1: be borne primarily by small businesses because large businesses can
- 34:42Speaker 1: afford the fight and small businesses cannot. All Right, I
- 34:49Speaker 1: guess that's uh, you know, basically what I had to
- 34:52Speaker 1: say about this. When the decision was first announced, stocks
- 34:57Speaker 1: went up, Uh, they kind of went, you know, they've
- 35:02Speaker 1: kind of moderated, They're not up a lot. Stokola doesn't
- 35:05Speaker 1: know what to do with this because again Trump is
- 35:08Speaker 1: just going to impose other tariffs, and there's huge uncertainty
- 35:11Speaker 1: around all this stuff, and again chaos, and the market
- 35:15Speaker 1: does not like chaos, does not like chaos. So it's
- 35:21Speaker 1: hard to tell. Gold has gone up, Silver's up quite
- 35:25Speaker 1: a bit. Silver's up like seven percent. You know, other
- 35:32Speaker 1: stuff is pretty stable. The dollar is stable, the bonds
- 35:36Speaker 1: are slight, the interust rates are up a little bit.
- 35:40Speaker 1: But yeah, it's gonna take a while to absorb it.
- 35:44Speaker 1: And really everybody's gonna wait to see what happens. Trump says,
- 35:52Speaker 1: let's let's just see what this is. Trump attack sapon
- 35:58Speaker 1: Court says, he's imposing ten percent global tariff. Let's see.
- 36:03Speaker 1: I'm not sure under what authorization he's going to impose.
- 36:08Speaker 1: His first move imposing a ten percent global tariff under
- 36:12Speaker 1: section one twenty two of the Trade Act of nineteen
- 36:14Speaker 1: seventy four, So that's one twenty two trade.
- 36:17Speaker 3: The fact that you have deficits, so a ten.
- 36:20Speaker 1: Percent global tariff some more more, suddenly everything's going to
- 36:24Speaker 1: come down. But then what the statue allows the President
- 36:26Speaker 1: to post have is up to fifteen percent. So it's
- 36:29Speaker 1: interesting he's only doing ten. Let's see what else is
- 36:33Speaker 1: he saying here? Post ten percent global a ten percent
- 36:39Speaker 1: global taff over and above the normal taff's already being charged.
- 36:44Speaker 1: Now that the Supreme Court has struck down as white sweeps,
- 36:46Speaker 1: I don't know what that means, which tariffs that are
- 36:49Speaker 1: already been charged, and who is he penalizing here exactly?
- 36:53Speaker 1: And and you know this is like, yeah, I'm gonna
- 36:56Speaker 1: I'm going to increase all your taxes to because I
- 36:59Speaker 1: may added to the Supreme Court. The President also mentioned
- 37:06Speaker 1: that all national security tariffs under section two thirty two
- 37:10Speaker 1: and section three oh one remain fully in place, including
- 37:13Speaker 1: those tabifts on furniture, which is, as I mentioned, a
- 37:16Speaker 1: national security issue under two three two we have, which
- 37:24Speaker 1: is under the Trade Expansion Act of nineteen sixty two
- 37:28Speaker 1: National security. Again, we have fifty percent levees on semi
- 37:32Speaker 1: finished copper products, twenty five percent levees on some semiconductors,
- 37:39Speaker 1: automobile tariffs. There are lots of tariffs that are not
- 37:42Speaker 1: affected by the Supreme Court ruling, and now he's going
- 37:46Speaker 1: to post ten percent on top of that. So Trump
- 37:51Speaker 1: is vindictive and crazy, and he's not a sane person.
- 37:57Speaker 1: I'll give you some examples of it in a minute.
- 38:00Speaker 3: He's not.
- 38:00Speaker 1: I've given you lots of examples over the last ten
- 38:02Speaker 1: years and over the last few months. He's not sane.
- 38:06Speaker 1: He's not. He's not. He's just a He's an emotionalist, unthinking, bombastic,
- 38:18Speaker 1: you know, nutcase is what he is. And so he's
- 38:25Speaker 1: just going to continue to lash out talking about some
- 38:29Speaker 1: of the insanity.
- 38:30Speaker 3: You know. One of the.
- 38:32Speaker 1: Most insane things that he's doing is this ridiculous boat
- 38:36Speaker 1: of piece right which convened I guess yesterday, and where
- 38:43Speaker 1: he is chairman for life. He handpicks members, controls the finances,
- 38:48Speaker 1: and chooses his own successor. He has all the power
- 38:54Speaker 1: for this thing. He supposedly has directed ten billion dollars
- 38:59Speaker 1: of US taxpayer money to go to this boat a piece.
- 39:03Speaker 1: He has no constitutional authority to do that. Only Congress
- 39:06Speaker 1: could do that. But again, it doesn't bother him at
- 39:10Speaker 1: least to say, so, you know, and and who's on
- 39:15Speaker 1: this boat apiece? I mean, it's it's it's a list
- 39:19Speaker 1: of a list of the most authoritarian places. Right. Who
- 39:23Speaker 1: do you have? Bahrain, Morocco, Argentina. That's sad that Argentina joined, Azerbaijan, Bulgaria, Azerbajehan, Morocco, Bahrain,
- 39:33Speaker 1: all authoritarians. Bulgaria, okay, a European democracy hungry.
- 39:38Speaker 3: You'd expect that.
- 39:39Speaker 1: Albania, Indonesia, Jordan, Kazakhstan, Kosovo, Pakistan, Pakistan, Paraguay, Belarus, Belarus,
- 39:48Speaker 1: the number one ally of Putin, Egypt, another authoritarian cutout,
- 39:53Speaker 1: of course, Saudi Arabia, of course, Turkey. Of course you're
- 39:57Speaker 1: not Emirates, Uzbekistan, Mongolia, Vietnam. These all people participated in
- 40:01Speaker 1: the meeting yesterday, right, So, France, Germany, Italy, uk Spain, Australia, Canada, Japan,
- 40:09Speaker 1: South Korea. No way to be seen, our allies, no
- 40:13Speaker 1: way to be seen. And then Trump says in a
- 40:20Speaker 1: statement about them, He says, in terms of power and
- 40:23Speaker 1: in terms of prestige, these are the greatest world leaders.
- 40:29Speaker 1: The guy is unmoored. He is not connected to reality.
- 40:33Speaker 1: You know, you could accuse me of Trump derangement syndrome,
- 40:38Speaker 1: but he just is.
- 40:40Speaker 3: He's you know, half the countries on the list.
- 40:44Speaker 1: Are countries that Trump has said cannot come to the
- 40:48Speaker 1: United States. They're so unreliable and risky that their citizens
- 40:54Speaker 1: will not get a visa to the United States.
- 40:56Speaker 3: But these are some of the.
- 40:57Speaker 1: Best, most influential, most powerful leaders in the world. I
- 41:04Speaker 1: mean it truly is and saying. Here's here's some quotes
- 41:09Speaker 1: from Trump from his first meeting of the voat to
- 41:13Speaker 1: piece yesterday. This is some of the stuff that he said.
- 41:18Speaker 1: He rambled on for about an hour during the three
- 41:21Speaker 1: hour meeting. He rambled for an hour. He says, I
- 41:23Speaker 1: want to thank Jihnni and FIFA, FIFA, the World Football Federation.
- 41:28Speaker 1: They gave me their first peace prize. They saw that
- 41:32Speaker 1: I got screwed by Norway and they said let's give
- 41:35Speaker 1: him a peace prize.
- 41:38Speaker 3: Then he gave out it a shout out to Ramas.
- 41:41Speaker 1: Every last remaining hostage, living and dead has been returned
- 41:45Speaker 1: back home. They dug and dug and dug. Tramas did
- 41:48Speaker 1: a lot of that work. You got to give them
- 41:50Speaker 1: credit for that. And then he turns to the King
- 41:54Speaker 1: of Bahrain, his majesty, the King of Bahrain. He is
- 41:58Speaker 1: so rich, he can sit there, He can sit wherever
- 42:01Speaker 1: the hell he wants. He might take a piece of
- 42:04Speaker 1: this building. Marco returns to Rubio. Take twenty five percent
- 42:08Speaker 1: of the building, the White House for about six billion.
- 42:14Speaker 1: I mean, this is the president of the United States.
- 42:16Speaker 1: He says, I have a good relationship with the United Nations.
- 42:19Speaker 1: Other than at my last speech. They did turn off
- 42:22Speaker 1: my teleprompter. I got up there. My telepumpter didn't work.
- 42:26Speaker 1: First I had an escalator that stopped. I was lucky
- 42:29Speaker 1: my movie star first lady was in front of me
- 42:33Speaker 1: because I put my hands on a certain part of
- 42:34Speaker 1: her body and I was able to stop my fall.
- 42:38Speaker 1: This is the boat to piece. This is the important
- 42:41Speaker 1: business of the boat to piece. Then he goes on
- 42:45Speaker 1: about millennium. Right, she's got a successful movie. It's number one.
- 42:49Speaker 1: She's a big movie.
- 42:50Speaker 3: Stuff.
- 42:51Speaker 1: We can't have two stars in one family. I don't
- 42:54Speaker 1: know what that means, but it's not good. Theaters all
- 42:57Speaker 1: packed women, especially go back and see it too. Three
- 43:00Speaker 1: four times, he turns to Whitcoff. Everybody likes Whitcoff. Ukraine
- 43:06Speaker 1: loves him, Russia loves him, Europe loves him. I don't
- 43:10Speaker 1: think Ukraine loves him, and I'm pretty sure Europe doesn't
- 43:14Speaker 1: love him. And I appreciate Israel doesn't love him. You know,
- 43:22Speaker 1: you know, he says, the person of Paraguay is here,
- 43:25Speaker 1: a young handsome guy. Always nice to be young and handsome.
- 43:28Speaker 1: It doesn't mean we have to like you. I don't
- 43:31Speaker 1: like young handsome men women. I like men. I don't
- 43:34Speaker 1: have any interest. I mean, it's not a stand up routine.
- 43:40Speaker 1: This is This is an hour long presentation in front
- 43:44Speaker 1: of the Board of Priests by President Trump. Can you
- 43:46Speaker 1: imagine what all these rulers of all these countries are thinking?
- 43:55Speaker 1: He says, this building was built for peace. Nobody knew
- 43:58Speaker 1: what to name it, and when Marco named it after me,
- 44:02Speaker 1: I had nothing to do with it. I swear they
- 44:04Speaker 1: said there's a surprise coming. I thought they were going
- 44:07Speaker 1: to give me a lot of money or something, maybe cash.
- 44:10Speaker 1: I can always use some extra cash. Then the President
- 44:18Speaker 1: of Kazakhstan, who is a dictator. The dictator Kazakhstan said,
- 44:22Speaker 1: I'd like to propose to establish a special President Trump
- 44:25Speaker 1: Award to recognize a special peacekeeping efforts. It's it's pretty amazing,
- 44:44Speaker 1: it's pretty amazing.
- 44:49Speaker 3: Is this is your president, this is the world.
- 44:52Speaker 1: In which we live in, And just to put a
- 44:56Speaker 1: definitive exclamation mark around us, this is President, your president,
- 45:05Speaker 1: and don't you forget it. And this is I mean,
- 45:09Speaker 1: I know a lot of you will say I'm making
- 45:11Speaker 1: this up because you know the TDS or whatever. I'm
- 45:14Speaker 1: making this up because this couldn't happen in America, But indeed,
- 45:18Speaker 1: is this is America.
- 45:20Speaker 3: In an Deparliament of Justice building.
- 45:24Speaker 1: Has uh you know, installed a banner in the front
- 45:31Speaker 1: of the building facing against Constitution avenue. I'm not sure
- 45:35Speaker 1: what avenue. This is one of the big avenues in Washington,
- 45:38Speaker 1: d C. A massive banner.
- 45:40Speaker 3: I'm looking at it now.
- 45:41Speaker 1: It's about four stories high, four story high banner with
- 45:48Speaker 1: a giant photograph of Donald Trump in front of the
- 45:54Speaker 1: Department of Justice. A giant banner of Donald Trump. I mean,
- 46:03Speaker 1: this is like foreblown North Korea or Germany in the
- 46:09Speaker 1: thirties or Soviet Union in the fifties or whatever.
- 46:12Speaker 3: We don't do this stuff in America. Don't do this
- 46:17Speaker 3: stuff in America.
- 46:20Speaker 1: Like this is personality worship, dictator worship, presidential worship.
- 46:27Speaker 3: This is sick. It is really sick.
- 46:30Speaker 1: And we're talking about the Department of Justice, and this
- 46:37Speaker 1: is you know, maybe it's with reminding you this is
- 46:40Speaker 1: year one of four. We got three more of these.
- 46:45Speaker 1: I mean, what's going to happen in the next three years.
- 46:47Speaker 1: How's it going to be? Top himself? Well, we'll see.
- 46:50Speaker 1: I've got some I've got some video of hex Seth.
- 46:58Speaker 1: All right, take a breath, deep breath. All right, we
- 47:04Speaker 1: will survive. We will survive. Uh yeah. Somebody says, you
- 47:11Speaker 1: can say whatever you want about Trump. You can't say
- 47:14Speaker 1: he's not a megalomaniac. You can say he's a crazy megalomaniac.
- 47:19Speaker 1: But that's maybe true of all megalomaniacs. It's completely insane,
- 47:23Speaker 1: nuts nuts, all right, Lit's stunt the economy quickly. We've
- 47:31Speaker 1: got a few stories that we can do pretty quickly,
- 47:34Speaker 1: I think here, but Lit's stunt economy. We now have
- 47:37Speaker 1: GDP numbers for the whole of twenty twenty five, have
- 47:40Speaker 1: come out. We also got another inflation number, price inflation.
- 47:47Speaker 1: I have to say price inflation, not monetoring inflation. Price
- 47:49Speaker 1: inflation number. So we'll talk about that, but let's start
- 47:52Speaker 1: off with GDP numbers. The US economy grew only one
- 47:57Speaker 1: point four percent at the end of last year.
- 47:59Speaker 3: That's the Q four.
- 48:00Speaker 1: Now, when I say it grew one point four percent,
- 48:02Speaker 1: that's annualized. That is that is the that's an annualized
- 48:11Speaker 1: GDP number, So whatever it is, if that continued over
- 48:16Speaker 1: the entire year, would be one point four percent. So
- 48:18Speaker 1: that's slow, right, that's slow growth, not negative growth, that's
- 48:21Speaker 1: slow growth. Consumer price consumer spending was decent two point
- 48:28Speaker 1: four percent. Business investment in AI was strong. Nothing really else.
- 48:34Speaker 1: Gouvernment shutdown shrunk gumment expenditure, which is a part of GDP.
- 48:40Speaker 1: So that was a real drag on the GDP number.
- 48:43Speaker 1: So the shutdown hood growth as managed by GDP. But
- 48:48Speaker 1: the reality is, you know, GDP was slow last year.
- 48:53Speaker 1: So if you look at the entire year last year,
- 48:56Speaker 1: a twelve month GDP over last year, the economy grew
- 49:00Speaker 1: in twenty twenty five by two point two percent. Now
- 49:04Speaker 1: that is the slowest growth we've had since twenty twenty,
- 49:10Speaker 1: when we had negative.
- 49:11Speaker 3: Growth because of COVID.
- 49:13Speaker 1: So every year of Biden's administration had higher growth. It
- 49:18Speaker 1: doesn't really matter. None of the years were particularly high growth, right,
- 49:23Speaker 1: all of them been below three percent. Two point two
- 49:27Speaker 1: is lower than any year where Trump was president other
- 49:30Speaker 1: than twenty twenty. You know, his best year was twenty eighteen,
- 49:35Speaker 1: when had three percent growth. But when he tells you
- 49:40Speaker 1: we have the greatest economy and ever and all of that, yeah,
- 49:42Speaker 1: I mean it's grown, which means it's better than it
- 49:45Speaker 1: was in past. So it is the best technically ever.
- 49:48Speaker 1: But in terms of growth, it's barely growing. And look,
- 49:53Speaker 1: I you know, it wasn't like we had robust growth
- 49:56Speaker 1: under Biden. It was two point eight in twenty twenty four.
- 49:59Speaker 1: And Biden did a lo lot of things I think
- 50:00Speaker 1: to hood growth. But then Trump could have focused on
- 50:05Speaker 1: the deregulation, could have focused on energy policy, could have
- 50:09Speaker 1: focused on the few, you know, on the positives. Instead,
- 50:14Speaker 1: he basically you know, hammered growth or reduced growth significantly
- 50:22Speaker 1: with tariffs and with immigration. Those two things, you know,
- 50:29Speaker 1: a drag on growth, the drag on business, the dragon
- 50:33Speaker 1: product un increased production and therefore drag on GDP. I
- 50:39Speaker 1: expect twenty twenty six to be again. I don't expect
- 50:43Speaker 1: a recession. It'll be another year of growth, but it's
- 50:46Speaker 1: going to be in the twos two percent area. Maybe
- 50:50Speaker 1: it won't be two p two, maybe a bit two
- 50:51Speaker 1: point four because it won't have a gunment shutdown, but
- 50:53Speaker 1: who knows, we might have another gunment shutdown. The other
- 50:56Speaker 1: thing about twenty twenty five is was very much a
- 50:59Speaker 1: year of jobless growth, ennemic hiring, despite a lot of
- 51:04Speaker 1: consumption and despite an AI boom, very little hiring. I'd
- 51:09Speaker 1: say immigration and tariffs manifested ultimately in significant reduction in hiring.
- 51:20Speaker 1: So flat, you know, basically no new jobs, no new
- 51:25Speaker 1: jobs in twenty twenty five. So decent yfo GDP. A
- 51:31Speaker 1: good year for the stock market, but a lot of uncertainty,
- 51:36Speaker 1: a lot of uncertainty because you're taking away employees and
- 51:39Speaker 1: you're taking away you're taking away and you're creating these
- 51:43Speaker 1: taxes that nobody knows exactly what to do with. So
- 51:49Speaker 1: economy is chugging along, but slowly chugging along and slowly
- 51:56Speaker 1: also came out today December PCE that is something consumer
- 52:07Speaker 1: expenditure I forget all right, it's slipped my mind anyway.
- 52:11Speaker 1: PC is a measure inflation that the FED likes. In particular,
- 52:15Speaker 1: this is the one the FED really tracks, right, personal consumption,
- 52:20Speaker 1: personal personal consumption something expenditure, So that's a preferred inflation
- 52:29Speaker 1: measure of the Fed. It rows two point nine percent,
- 52:33Speaker 1: which is above expectations, which were two point eight. A
- 52:37Speaker 1: core PCE, which is taking away the stuff that's small volatile,
- 52:41Speaker 1: rose at three percent, which is significantly more, you know,
- 52:46Speaker 1: significantly higher. These all annualized rates. Of course, it's at
- 52:51Speaker 1: the highest level of the course, at the highest level
- 52:53Speaker 1: since November twenty twenty three. So in other words, inflation
- 52:58Speaker 1: is measured in prices, is not going down, not in
- 53:01Speaker 1: any significant way, not according to the way the FED
- 53:05Speaker 1: measures it, which means the Fed is very, very unlikely
- 53:08Speaker 1: to reduce interest rates anytime soon. Personal consumption expenditures, Thank
- 53:12Speaker 1: you God, I don't know where that just evaporated from
- 53:15Speaker 1: my mind. Personal consumption expenditures. So not a good number,
- 53:24Speaker 1: not a number that Trump is gonna like, not a
- 53:27Speaker 1: number that the Fed is going to like.
- 53:29Speaker 3: In terms of lowing interest rates.
- 53:30Speaker 1: So Trump is still gonna have to wait until it
- 53:33Speaker 1: gets rid of the current chairman, the FED chairman, and
- 53:38Speaker 1: install his own guy. And even then it's not clear
- 53:41Speaker 1: that there will be a majority on the FED to
- 53:44Speaker 1: lower interstrates the way Trump wants them lowered.
- 53:47Speaker 3: Just not clear at all.
- 53:50Speaker 1: By the way, you remember Trump keeps saying eighteen trillion
- 53:52Speaker 1: dollars of investment of flowing into the country, the country.
- 53:56Speaker 1: If foreigners investing eighteen trillion dollars into the country. Well,
- 54:01Speaker 1: another thing to note is that, uh, the amount of
- 54:05Speaker 1: foreign direct investment in the United States declined every quarter
- 54:12Speaker 1: last year.
- 54:13Speaker 3: It was it was quite high.
- 54:14Speaker 1: In Q one, declined in Q two, theclot in Q three,
- 54:17Speaker 1: and declined really really low in Q four. So it
- 54:23Speaker 1: doesn't look like the world there's rushing to invest in
- 54:26Speaker 1: the United States. I guess not really that surprisingly, all right,
- 54:31Speaker 1: that's GDP. Let's do hecseth right, Uh hexseeth You know, heckseeth.
- 54:36Speaker 1: He is ow he is our Secretary of War, Secretary
- 54:43Speaker 1: of war, and he is speaking at some Christian conference. Uh,
- 54:49Speaker 1: and this is what he had to say. So so
- 54:52Speaker 1: listen to uh, listen to hegseth. Uh. And yeah, I
- 54:59Speaker 1: think a lot of people get I don't know, shivers
- 55:02Speaker 1: down this spine or goosebumps.
- 55:03Speaker 3: I'm not sure which ones you get. Listen to this,
- 55:05Speaker 3: if I.
- 55:06Speaker 5: May offer a few observations, Protecting the god given life
- 55:10Speaker 5: of an unborn baby is not political.
- 55:12Speaker 1: It's biblical, Biblical, commanded by God.
- 55:19Speaker 3: I think that's right.
- 55:21Speaker 1: It's not political.
- 55:24Speaker 3: It's about the Bible.
- 55:24Speaker 1: It's about religion, imposing religion in all of our lives.
- 55:28Speaker 1: But he keeps going, he keeps going. They're chewing, they're
- 55:31Speaker 1: all excited, they're thrilled by this. This is amazing, But
- 55:35Speaker 1: he keeps going. That's not the end of it.
- 55:40Speaker 5: Protecting our borders from criminals will steal from us, assault
- 55:44Speaker 5: our loved ones, and poison our citizens is not political.
- 55:47Speaker 1: It's biblical kill outs, poison.
- 55:50Speaker 3: What are they doing exactly?
- 55:52Speaker 1: Really? You know the monsters that are coming, I mean,
- 55:55Speaker 1: think about the dehumanizing way in which he's presenting them.
- 56:00Speaker 1: Think about just the lias that I involved.
- 56:04Speaker 5: Protecting women and children from being trafficked for sexual slavery
- 56:08Speaker 5: not political.
- 56:09Speaker 1: It is biblical, playing right into the mega hands.
- 56:14Speaker 4: How about prosecuting, ending guard over our children rather than
- 56:19Speaker 4: letting them be taught perverse sexual practices or sharing a
- 56:22Speaker 4: locker room with men pretending to be women is not political.
- 56:26Speaker 1: It's biblical. Right, So, I mean, the whole agenda of
- 56:31Speaker 1: the right is not political. It's not rational, it's not
- 56:35Speaker 1: reasoned out. It's biblical. It's commanded in the Bible. Therefore
- 56:39Speaker 1: one must do it. They love that anything with trans
- 56:45Speaker 1: the write goosed nuts.
- 56:53Speaker 5: Protecting our culture and our religion from godless ideologies and
- 56:57Speaker 5: pagan religions not political.
- 57:00Speaker 1: It's biblical. So going after me is going to be biblical,
- 57:06Speaker 1: godless ideologies. That's me. I'm a godless ideologue. But don't worry.
- 57:14Speaker 1: It's it's it's it's not political, it's biblical, equal to reality,
- 57:24Speaker 1: says I think.
- 57:25Speaker 3: I'm going to throw up.
- 57:26Speaker 1: Now, Wait, you haven't heard the best one.
- 57:31Speaker 3: I think.
- 57:31Speaker 1: I think this is I think this was the end
- 57:33Speaker 1: of this passage. Yeah, that's that's that. Here's another little segment.
- 57:36Speaker 1: This is the end of his speech. You know, this
- 57:41Speaker 1: is the end of his speech. Listen to listen to
- 57:46Speaker 1: this beauty closing.
- 57:47Speaker 5: As long as I have breath, I commit to you
- 57:49Speaker 5: that I and we should never allow any group, no
- 57:52Speaker 5: matter how large or small, to silence us from speaking
- 57:55Speaker 5: the capital t truth.
- 57:57Speaker 3: Nobody wants to silence him from speaking.
- 58:00Speaker 1: That's just a lie. He can speak whatever he believes
- 58:03Speaker 1: is the capital T truth. But it's a myth that
- 58:06Speaker 1: anybody wants to silence that. But here's what he means. Christ,
- 58:11Speaker 1: that's the truth, the capital T truth is this here,
- 58:14Speaker 1: it is truth. Christ is king. He died for our sins.
- 58:19Speaker 5: We are forgiven.
- 58:24Speaker 1: Look the audience is going wild, they're going crazy. He
- 58:30Speaker 1: can't even smile as they're going crazy. He can't even
- 58:33Speaker 1: accept that. You know, Oh, even Jennifer's not throwing up.
- 58:38Speaker 1: Not good, not good. I didn't know.
- 58:40Speaker 3: I induced people throwing up on my show.
- 58:46Speaker 5: And he will come again in glory, Amen, closing, as long.
- 58:49Speaker 1: As can't wait for him to come again in glory.
- 58:54Speaker 1: Can't wait, can't wait? All right? That is your secretary
- 58:58Speaker 1: of war and a future movement shakeup in Republican politics.
- 59:05Speaker 1: This is the new Republican Party. It's gone way beyond
- 59:10Speaker 1: the religious right them all majority of the nineteen eighties
- 59:14Speaker 1: and nineteen nineties. This is now all out war on
- 59:19Speaker 1: anything that is secular, silence us godless ideologies. And look
- 59:29Speaker 1: at him with his sleek hair and his perfect suit,
- 59:33Speaker 1: and you know lecturing in other places. You remember lecturing
- 59:37Speaker 1: the generals, and this is a dangerous man. A dangerous
- 59:42Speaker 1: man heads our military, heads the Pentagon, and has I
- 59:47Speaker 1: think a bright future in the Republican Party as we
- 59:50Speaker 1: know it. All right, sweitch topic dramatically again, we're covering
- 59:57Speaker 1: the news.
- 59:58Speaker 4: Right.
- 1:00:00Speaker 1: So it turns out that TRAMAS has basically done its
- 1:00:07Speaker 1: latest revision of the casualty data. Right, all the data
- 1:00:11Speaker 1: we have on casualties and GADZ that comes from RAMAS.
- 1:00:14Speaker 1: So they have now revised the casualty data in the
- 1:00:16Speaker 1: Gauz of war. And and you know, I'm going to
- 1:00:21Speaker 1: present you with the facts from that according to them, right,
- 1:00:26Speaker 1: the list has has enough information to cite sixty eight
- 1:00:31Speaker 1: thousand deaths. Now, I think I think there's broad agreement
- 1:00:37Speaker 1: that RAMAS has probably lost about twenty five thousand fighters.
- 1:00:41Speaker 1: That leads forty four thousand word deaths to be accounted for.
- 1:00:46Speaker 1: Wait a minute, this, this, this, this is not right.
- 1:00:48Speaker 1: Forty one thousand. They can't they can't. Forty No, forty
- 1:00:53Speaker 1: three thousand, I don't know. They can't. They can't count
- 1:00:55Speaker 1: forty three thousand, eight hundred. Okay, they're rounding up forty
- 1:00:58Speaker 1: four thousand, forty six eight hundred deaths. And second, let
- 1:01:04Speaker 1: me just look to see what's going on here. That's
- 1:01:09Speaker 1: all right, So forty four thousand ward deaths that count
- 1:01:13Speaker 1: from included in the forty four thousand according to Ramas,
- 1:01:17Speaker 1: ten thousand natural deaths, So ten thousand people died natural
- 1:01:21Speaker 1: causes in the Gaza strip. That means thirty four thousand
- 1:01:26Speaker 1: supposedly civilians were killed by Israel and those it includes
- 1:01:33Speaker 1: those killed by Hamas and the other militant groups, either
- 1:01:37Speaker 1: by execution, rocket misfiring, two fours.
- 1:01:41Speaker 3: And the like.
- 1:01:44Speaker 1: So even using Hamas's own numbers, Israel civilian to combat
- 1:01:49Speaker 1: death rate, it's pretty close to.
- 1:01:51Speaker 3: One to one.
- 1:01:53Speaker 1: Now, that's never never been accomplished in urban war setting,
- 1:01:58Speaker 1: We've never seen anything like that, and particularly in an
- 1:02:03Speaker 1: environment in which Hamas turned Gaza into one big human shield.
- 1:02:10Speaker 1: So given Amas started the war, refused to surrender, held hostages,
- 1:02:15Speaker 1: fired it as or for civilian homes. I managed the
- 1:02:19Speaker 1: whole war from headquarters, in hospitals, in schools. The reality
- 1:02:25Speaker 1: is that the number of Gazans killed is absurdly low,
- 1:02:33Speaker 1: and the idea of a genocide is ridiculous and just irrational.
- 1:02:43Speaker 1: So as we get more numbers, I'll keep reminding you
- 1:02:46Speaker 1: of this fact. I also, I think this is going
- 1:02:50Speaker 1: to be a really good interview. But in a few weeks,
- 1:02:53Speaker 1: let me see when exactly. Yeah, on March ninth, I
- 1:03:00Speaker 1: can be interviewing Andrew Fox. You said, look Andrew Fox up.
- 1:03:04Speaker 1: You can find him on Twitter and elsewhere. He's really
- 1:03:07Speaker 1: interesting guys Special Forces British Army. Uh.
- 1:03:11Speaker 3: He spends some time with the Israeli forces.
- 1:03:14Speaker 1: Uh, you know, with the aid distribution efforts in Gaza.
- 1:03:19Speaker 1: He has first on account of Gaza. He's looked at
- 1:03:21Speaker 1: the numbers, He's analyzed what happened, he has views on
- 1:03:24Speaker 1: the strategy. I don't agree with everything he says. I
- 1:03:27Speaker 1: don't agree with somebody he says about Iran right now.
- 1:03:30Speaker 1: I don't agree with everything he says about Gaza. But
- 1:03:32Speaker 1: he has a guy who has firsthand experience of what
- 1:03:35Speaker 1: was going on and has and has written the academic
- 1:03:39Speaker 1: papers about the Gaza war. Uh. And and so we're
- 1:03:43Speaker 1: gonna be refuting this whole idea of genocide and and
- 1:03:48Speaker 1: and analyzing the the Israeli armies UH. Combat. I doubt
- 1:03:55Speaker 1: that Andrew would agree with me on just both theory,
- 1:03:58Speaker 1: but it's not the point. The point here is just
- 1:04:01Speaker 1: to get the facts, which I think he has UH
- 1:04:04Speaker 1: in a way that others don't. All Right, So that
- 1:04:14Speaker 1: is quickly in Romas. Okay, Finally Techer Carson went to Israel.
- 1:04:25Speaker 1: He flew to the he flew to the airport, and
- 1:04:28Speaker 1: he interviewed Mike Kakabi.
- 1:04:30Speaker 3: Basically at the airport.
- 1:04:31Speaker 1: He wouldn't even go into Israel and immediately flew out
- 1:04:33Speaker 1: of Israel to Europe. I guess he can tell you
- 1:04:36Speaker 1: now that he's been to Israel. He claims he was
- 1:04:40Speaker 1: harassed at the airport by Israeli security. Now I wish
- 1:04:45Speaker 1: that were true. He should be harassed by the Israeli security.
- 1:04:49Speaker 1: He is an enemy of the State of Israel, and
- 1:04:51Speaker 1: his whole visit UH to Israel should be scrutinized and
- 1:04:55Speaker 1: he should generally be harassed. I'm more for harassing Techer Carson.
- 1:04:59Speaker 1: But the ally is that he wasn't harassed. It's actually
- 1:05:02Speaker 1: video of entry he was. He's treated like anybody else.
- 1:05:06Speaker 3: You know, there's no he was He wasn't.
- 1:05:09Speaker 1: Interrogated or anything. He just goes in and he's he's
- 1:05:13Speaker 1: asked even by one of the security guys to get
- 1:05:16Speaker 1: to get a photo with him, like a selfie. So
- 1:05:19Speaker 1: he's lying. He's lying about it. Now he went there
- 1:05:25Speaker 1: to interview Mike Kuckaby. Now the whole idea of interview
- 1:05:31Speaker 1: mccacabe is to show how Mike Kakabe is an evil, nasty,
- 1:05:34Speaker 1: horrible human being and to justify why you know that
- 1:05:44Speaker 1: everybody should be anti Israel and that Hukkabe is just
- 1:05:48Speaker 1: evil for supporting Israel. Now, I haven't listened to the interview.
- 1:05:52Speaker 1: I will, but it came out literally just before the
- 1:05:55Speaker 1: show came on. But here is the time steps. Here
- 1:05:58Speaker 1: are the time steps for the interview. So it starts
- 1:06:03Speaker 1: off with Techo costs and explaining why he was interrogated
- 1:06:05Speaker 1: in Israel.
- 1:06:06Speaker 3: He wasn't.
- 1:06:08Speaker 1: I was interrogated once by the Israeli security forces. Believe me,
- 1:06:12Speaker 1: Techo was not interrogated. I can tell you something about,
- 1:06:16Speaker 1: you know, my old interrogation. He didn't even get that
- 1:06:20Speaker 1: I was an introgated at the airport. I was interrogated
- 1:06:23Speaker 1: under other circumstances anyway, Then he says, why did my
- 1:06:26Speaker 1: Kukabe meet with American traitor Jonathan Pollard?
- 1:06:30Speaker 3: So a stab initially right?
- 1:06:33Speaker 1: How's how could be advocated to extradite sex offenders who
- 1:06:36Speaker 1: flee from US to Israel? Why are there still classified
- 1:06:41Speaker 1: Epstein files? Is Israel of the Bible? The current secular
- 1:06:46Speaker 1: government of Israel? Is Israel's Christian population declining? Who has
- 1:06:51Speaker 1: a right to land to the land of Israel? The
- 1:06:54Speaker 1: killing of Christians in Gaza? Ben he mean Nataniel's calls
- 1:06:58Speaker 1: for genocide? How could be accusers Tony A. Gilera of lying?
- 1:07:03Speaker 3: I don't know who that is?
- 1:07:05Speaker 1: Fighting wars on Israel's behalf? Why are nine to eleven
- 1:07:08Speaker 1: files still classified? Natanielle's many visits to the White House.
- 1:07:13Speaker 1: The nuclear weapons? It israll stole. I thought demons developed
- 1:07:18Speaker 1: those anyway, I think they gave them to Israel. The
- 1:07:21Speaker 1: demons gave them Tisroe. Why is the US sending his
- 1:07:24Speaker 1: all so much money? Is How could be okay with
- 1:07:26Speaker 1: Israel providing free ebotions? How many Americans support war with Iran?
- 1:07:36Speaker 1: Was the warning rock really about nine to eleven? Is
- 1:07:39Speaker 1: all sabotaging of US negotiations with you on? How many
- 1:07:43Speaker 1: journalists is Israel killed in Gaza? Is How could be
- 1:07:46Speaker 1: concerned about the persecution of Christians in other words, every
- 1:07:51Speaker 1: question is slanted against Israel. Every question is a gotcha
- 1:07:55Speaker 1: question to Huckaby. It's just stunning, just the questions. Now,
- 1:08:00Speaker 1: I'm gonna listen to it because it's going to be
- 1:08:02Speaker 1: interesting if how could he fights back or if he's
- 1:08:04Speaker 1: just going to roll over in this. I don't think
- 1:08:07Speaker 1: he's going to roll over. I think he's pretty media
- 1:08:09Speaker 1: savvy and I think he'll fight back. Teker Caulson is
- 1:08:13Speaker 1: already telling people that he thinks this interview is going
- 1:08:17Speaker 1: to get how could be fired by the Trump administration
- 1:08:19Speaker 1: at least that's what he's trying to do anyway. And
- 1:08:25Speaker 1: you know, he's trying to portray Hockaby as a pedophile protector,
- 1:08:28Speaker 1: a trader to America, and so on.
- 1:08:31Speaker 3: And that's what the interview is all about.
- 1:08:33Speaker 1: Now you might say, you're on stop talking about Tucker.
- 1:08:36Speaker 1: He's irrelevant. The guy believes in demons. Who gives a
- 1:08:39Speaker 1: damn what he thinks? He's irrelevant? In America today, nobody
- 1:08:43Speaker 1: takes Tucker Callson seriously. All right, So here is the
- 1:08:51Speaker 1: results of a recent survey of five hundred and sixty
- 1:08:55Speaker 1: one Republicans balanced by age and gender, conducted January twenty
- 1:09:00Speaker 1: one and twenty two twenty twenty six, with a margin
- 1:09:04Speaker 1: of error plus minus four percent. And what they're trying
- 1:09:09Speaker 1: to do is is basically try to figure out how
- 1:09:12Speaker 1: popular is Tucker Carson basically as an indicator of broader
- 1:09:16Speaker 1: Republican sentiments about.
- 1:09:19Speaker 3: Issues, including the issue of Israel.
- 1:09:24Speaker 1: Okay, So the first major finding is a clear generational
- 1:09:28Speaker 1: divide across the entire sample. More than forty five percent
- 1:09:33Speaker 1: of respondents believed Tucker Cawson is likely to run for
- 1:09:37Speaker 1: national office, and more than forty eight percent said they
- 1:09:41Speaker 1: would vote for him if he did so. Notice this,
- 1:09:44Speaker 1: forty eight percent of grannted this sample of Republicans.
- 1:09:47Speaker 3: I mean, you'd need a much larger sample.
- 1:09:50Speaker 1: But forty eight percent said they would vote for Tucker
- 1:09:53Speaker 1: Cawson in spite of the fact that in all of you,
- 1:09:56Speaker 1: I speak for myself and some of the people who
- 1:09:59Speaker 1: listen to me, the guy is sortifiable, I mean this
- 1:10:02Speaker 1: close to certifiable. I mean demons attack him at night,
- 1:10:06Speaker 1: Demons invented the atomic bomb. Israel is the most wickedest
- 1:10:12Speaker 1: country on planet Earth. Iwana, The good guys, Islam is
- 1:10:16Speaker 1: not that bad. Sharia law is cool. I mean you
- 1:10:18Speaker 1: could go on and on and on. But we know
- 1:10:20Speaker 1: Techa's completely not It says forty eight percent. Now you
- 1:10:23Speaker 1: say it's only twenty four of American four percent of Americans.
- 1:10:25Speaker 1: But if he win as a primary, we could win America.
- 1:10:35Speaker 1: It's stunning that half of Republicans would vote.
- 1:10:37Speaker 3: For this idiot, this evil idiot. But here's the kicker.
- 1:10:44Speaker 1: Among Republicans under the age of forty four. Now, most
- 1:10:48Speaker 1: of my listeners, most of the listeners to Iran book
- 1:10:51Speaker 1: show significantly over fifty percent, about sixty percent of the
- 1:10:55Speaker 1: of the listeners of this show or under the age
- 1:10:58Speaker 1: of forty four, under the age of four. So my
- 1:11:00Speaker 1: audience among Republicans under the age of forty four support
- 1:11:06Speaker 1: was fifty eight percent said they would vote for him.
- 1:11:12Speaker 1: Fifty eight almost sixty percent of young Republicans would vote
- 1:11:17Speaker 1: for him. Among Republicans age forty five and older, enthusiasm
- 1:11:22Speaker 1: drops dramatically. Only forty one percent would be willing to
- 1:11:26Speaker 1: vote for him. Again, forty one is still way higher
- 1:11:30Speaker 1: than would make me comfortable. So cast of political appeal
- 1:11:37Speaker 1: is younger, is younger Republicans? Now, this is not an outlying,
- 1:11:46Speaker 1: outlying finding. Other surveys are found basically the same thing, right,
- 1:11:53Speaker 1: Tucker Carson is incredibly popular, as horrific, as insane, as disturbing,
- 1:12:02Speaker 1: as wanting to make you throw up as that is,
- 1:12:05Speaker 1: It is the reality. Tucker Cousin is incredibly popular. And
- 1:12:09Speaker 1: that's why I keep showing him because and talking about him, because, uh,
- 1:12:14Speaker 1: I'm hoping to give you the ammunition to go out
- 1:12:16Speaker 1: there and crush these people. So it's scary. It's scary.
- 1:12:26Speaker 1: Tucker Cosson is much smarter than Trump, much better educated,
- 1:12:32Speaker 1: much more ticulate than Trump, and in a position of power,
- 1:12:38Speaker 1: much more dangerous than Trump. I, by the way, years ago,
- 1:12:41Speaker 1: predicted that Tucker Cosson would run, and I still think
- 1:12:44Speaker 1: he might. Uh, and and I think he has a
- 1:12:47Speaker 1: good chance. Would he run against JD Vans, who is
- 1:12:51Speaker 1: a friend? I don't know, but he's going to support
- 1:12:53Speaker 1: JD Evans and j Van's and he'll bring the younger
- 1:12:56Speaker 1: voters with him. God, people are throwing up all over
- 1:13:02Speaker 1: the place on my chat. Stop throwing up on my chat.
- 1:13:05Speaker 1: Shouldn't throw up in the chat? All right, guys. We
- 1:13:10Speaker 1: started with good news, we ended with bad news. Sorry,
- 1:13:13Speaker 1: but that is the news for this Friday, February twentieth.
- 1:13:18Speaker 1: Remind you tomorrow we have an ama at to BEM
- 1:13:22Speaker 1: East Coast time, so ask me anything. Please join us.
- 1:13:26Speaker 1: And those of you who contribute on a monthly basis
- 1:13:29Speaker 1: more than twenty five dollars, you can join the panel.
- 1:13:33Speaker 3: You should have gotten a link to it.
- 1:13:39Speaker 1: Let's see those. So yeah, that'll be on Saturday. There
- 1:13:52Speaker 1: will be something on Sunday. I don't know yet to
- 1:13:54Speaker 1: stake of tune for a Sunday show. I'll let you
- 1:13:58Speaker 1: know what the topic will be as soon, right, god wise,
- 1:14:04Speaker 1: just like that one second, all right, I want to
- 1:14:07Speaker 1: remind you all that there. I want to remind you
- 1:14:17Speaker 1: all that there will be what was I going to
- 1:14:21Speaker 1: say that I'm doing the seminar in seminar in London
- 1:14:27Speaker 1: on February twenty eighth. It's on, So I have now
- 1:14:30Speaker 1: enough people that it's definitely on. So now it gets
- 1:14:34Speaker 1: the point where there's not gonna be that much space.
- 1:14:37Speaker 3: I've rented a room. The room's not very big.
- 1:14:40Speaker 1: I didn't want a big a big group anyway, so
- 1:14:44Speaker 1: there's going to be limited availability. Please consider signing up
- 1:14:47Speaker 1: and sign up this weekend. Sign up this weekend so
- 1:14:51Speaker 1: we can we can finalize it and lock this down. Uh,
- 1:14:55Speaker 1: it's going to be about capitalism. It's uh, you know,
- 1:14:59Speaker 1: going to be very There's going to be ten people
- 1:15:05Speaker 1: and we're going to talk about capitalism and lots of
- 1:15:08Speaker 1: questions from you, lots of interaction. It'll be fun to
- 1:15:11Speaker 1: hang out. We can all go out to dinner afterwards
- 1:15:14Speaker 1: if you want. So all of that is, all of
- 1:15:17Speaker 1: that is available to three hundred pounds for four hours.
- 1:15:22Speaker 3: Not that much money, I don't think.
- 1:15:25Speaker 1: And yeah, so sign up. You can sign up your
- 1:15:30Speaker 1: one bookshow dot com. I just go your one book
- 1:15:32Speaker 1: show dot com scroll down to where the February twenty
- 1:15:36Speaker 1: eighth events and there's a link there to the event
- 1:15:41Speaker 1: right where you can sign up and sign up. Should
- 1:15:43Speaker 1: be easy, not like last year where it was very difficult.
- 1:15:46Speaker 1: This year should be easy. So please consider that I'm
- 1:15:49Speaker 1: not buying you dinner. No, I'm joining you for dinner.
- 1:15:52Speaker 1: We can all go to dinner to get out by
- 1:15:53Speaker 1: buy my own dinner, or you can buy me dinner
- 1:15:56Speaker 1: if you want. But I'll buy my own dinner and
- 1:15:58Speaker 1: each person will buy their own in the three hundred
- 1:16:03Speaker 1: pounds per person will not go very far if you
- 1:16:05Speaker 1: have to buy your dinner with that as well. All right,
- 1:16:13Speaker 1: I don't know if I can endorse that, Robert. I'll
- 1:16:18Speaker 1: pitch your show without mentioning the person you're interviewing, because
- 1:16:23Speaker 1: I don't endorse the person you're interviewing. All right, let's
- 1:16:27Speaker 1: see what else do we want to do. I'm trying
- 1:16:31Speaker 1: to think what we want to do. I'm not buying
- 1:16:34Speaker 1: your dinner again. But first of all, you have to come.
- 1:16:39Speaker 1: It's London, so you have to be in London or
- 1:16:41Speaker 1: someone in the UK, or you know, get on a train,
- 1:16:44Speaker 1: come on over.
- 1:16:44Speaker 3: It'll be fun.
- 1:16:45Speaker 1: Also, I'll be doing events in Exeter, Durham and Exeter,
- 1:16:52Speaker 1: Durham and Oxford. I think all of the events are
- 1:16:55Speaker 1: potentially open for the to the public. You on books
- 1:16:59Speaker 1: dot com we'll have updated information about where what, all
- 1:17:02Speaker 1: the details. But Durham, Exeter, Oxford, ox Yeah, Exeter on Monday,
- 1:17:10Speaker 1: Durham Tuesday, Oxford Thursday, Oxford Wednesday. And then if you're
- 1:17:15Speaker 1: in Switzerland, Rowland is in Switzerland. I'm doing events in
- 1:17:19Speaker 1: Zurich on Thursday. That's not that's not next week, So
- 1:17:23Speaker 1: week after next week after next first week in March,
- 1:17:27Speaker 1: I'll be in Zurich on March. I think it's six.
- 1:17:31Speaker 1: It's a Thursday of that week. So again, information available
- 1:17:35Speaker 1: on your on book show dot com. Check it out.
- 1:17:37Speaker 1: If you're in the area, come by and uh and
- 1:17:41Speaker 1: see us. Okay quickly, don't have a lot of time today,
- 1:17:44Speaker 1: we'll do our sponsors Dinmand Institues. Encourage you to count
- 1:17:47Speaker 1: to Porto for our Confidence European Conference. I'll be speaking
- 1:17:50Speaker 1: there on car and it's funny. Uh. Check out Iman
- 1:17:55Speaker 1: dot oak slash start here. If you're under thirty four,
- 1:17:57Speaker 1: you can get a scholarship. If you're paying, then you
- 1:18:01Speaker 1: can get a discount. Twenty six YBS ten is the
- 1:18:04Speaker 1: discount code. Alex Epstein is number one thinker in the
- 1:18:11Speaker 1: world on issues of energy, fossil fuels, electricity, power more broadly.
- 1:18:17Speaker 1: Check him out alex Epstein dot substack dot com. You
- 1:18:21Speaker 1: become a much better think and communicator of ideas. Hendershotwealth
- 1:18:27Speaker 1: dot com, hendershot Wealth dot com, slash ybs Hendershot with
- 1:18:31Speaker 1: two t's, they've got a product that can really shield
- 1:18:38Speaker 1: capital gains, tax liability.
- 1:18:41Speaker 3: Check out the interview I did with Robert.
- 1:18:43Speaker 1: On on You Know on my show. It's in my
- 1:18:48Speaker 1: playlists under sponsors and you can also check out the website.
- 1:18:53Speaker 1: And finally, Defenders of Capitalism Defenders of Capitalism dot com.
- 1:18:58Speaker 1: This is Michael Williams, and you know I've worked on
- 1:19:01Speaker 1: this as well, a program called Defenders of Capitalism. Michael
- 1:19:07Speaker 1: is great. The program is really good. Thinking of different
- 1:19:10Speaker 1: ways to expand it. Maybe go to the website. Check
- 1:19:13Speaker 1: out it's actually a pretty beautiful website. Check out the website.
- 1:19:16Speaker 1: Check out what is the program? Maybe you have Maybe
- 1:19:19Speaker 1: you can invite us into your company to present on capitalism,
- 1:19:23Speaker 1: or maybe you can into your industry group or whatever.
- 1:19:27Speaker 1: Think of ways in which you can bring Defenders of
- 1:19:30Speaker 1: Capitalism to a wider audience. Thank you guys. All right,
- 1:19:36Speaker 1: don't forget Patreon. Sign up for patreon dot com your
- 1:19:39Speaker 1: own book show and become a monthly supporter of your
- 1:19:41Speaker 1: on book show. All kinds of pokes at different levels
- 1:19:43Speaker 1: of contribution from the books. Really started ten dollars all
- 1:19:47Speaker 1: the way up to one thousand dollars a month. So
- 1:19:50Speaker 1: check that out and let me know that that would
- 1:19:53Speaker 1: be that would be amazing. All right, let's jump into
- 1:19:58Speaker 1: the questions. I have a hard stop at around four
- 1:20:00Speaker 1: pm Eastern time, a lot of two and five dollars questions,
- 1:20:03Speaker 1: not many twenty dollars questions, but we did get eight
- 1:20:07Speaker 1: one hundred dollars sticker from Wes, So thank you. Thank
- 1:20:10Speaker 1: you Wes, who really really chipped into the to the goals.
- 1:20:15Speaker 1: So thank you Wes. Let's see if we had any
- 1:20:18Speaker 1: other stickers. Let me just check Jacob, thank you, Bunnie,
- 1:20:23Speaker 1: thank you, Mary, Aleen, thank you, Gary. Thank you. All
- 1:20:28Speaker 1: provided with stickers, and you too should come over and
- 1:20:32Speaker 1: do a sticker West at one hundred dollars. Those others
- 1:20:35Speaker 1: are quite a bit less, but all appreciated, all valued,
- 1:20:39Speaker 1: and I thank all of you. All right, let's start
- 1:20:41Speaker 1: with Clark with a fifty dollars question. There's no place
- 1:20:44Speaker 1: like the USA agree or disagree with the Supreme Court's decision.
- 1:20:48Speaker 1: The fact that a small business owner can take the
- 1:20:50Speaker 1: president to quote and win says a lot about how
- 1:20:53Speaker 1: our constitutional system is meant to work, yes, and how
- 1:20:56Speaker 1: in spite of everything, it still works. Now Trump's didictiveness
- 1:21:01Speaker 1: will result in here imposing tabs on all of us anyway,
- 1:21:04Speaker 1: using some other thing. But the system works. It takes time,
- 1:21:09Speaker 1: and it's not principled enough, and we don't have the
- 1:21:11Speaker 1: concert individual rights working for us in a way it should.
- 1:21:14Speaker 1: But the system works, and there is no place like
- 1:21:18Speaker 1: us in the sense of that separation of powers and
- 1:21:22Speaker 1: the checks and balances, and that's why we need to
- 1:21:25Speaker 1: fight for that. It's the one thing that saves us.
- 1:21:29Speaker 1: The Declaration of Independence is becoming irrelevant, sadly, in this
- 1:21:33Speaker 1: two hundred and fiftieth year of its signing. It's becoming irrelevant.
- 1:21:36Speaker 1: But the Constitution is still alive.
- 1:21:39Speaker 3: And it's still being used.
- 1:21:40Speaker 1: And whatever is left of the Constitution that's being used,
- 1:21:44Speaker 1: we need a bolster. We need to support. So yes
- 1:21:48Speaker 1: to the Supreme Court, Yes to defending our constitutional rights.
- 1:21:52Speaker 1: Yes to any way you can to preserve the separation
- 1:21:55Speaker 1: of powers and the checks and balances that exist.
- 1:22:00Speaker 3: Thank you.
- 1:22:00Speaker 1: Klerk Michael Willison Ben quote ruling make Trump so angry
- 1:22:05Speaker 1: a taxi round or uses the Ranian are strikes as
- 1:22:08Speaker 1: a distraction from his tariff embarrassment. I don't know. It's
- 1:22:12Speaker 1: impossible to predict Trump. I doubt it. He lately has
- 1:22:15Speaker 1: been floating a limited attack on Iran, so just a
- 1:22:20Speaker 1: you know, a small attack, just to show them we're
- 1:22:23Speaker 1: serious and then continue negotiating. He really, really, really doesn't
- 1:22:27Speaker 1: want to go all in on Iran. And even though
- 1:22:31Speaker 1: he has all the military day, even though it won't
- 1:22:34Speaker 1: be a very lengthy campaign, even though he'd win big,
- 1:22:40Speaker 1: it's he doesn't want it, and his people, like Tecker
- 1:22:46Speaker 1: Carson thinks he's being manipulated by the Jews to do it.
- 1:22:50Speaker 1: So he's reluctant to do it. And so who knows,
- 1:22:54Speaker 1: you know, maybe maybe he does these pistofa who goes
- 1:22:57Speaker 1: after Iran. Maybe that would be a good outcome, Michael,
- 1:23:01Speaker 1: do most people hold who hold altruism intellectually not want
- 1:23:06Speaker 1: it fully? They're fine with you keeping most of your
- 1:23:10Speaker 1: own money, but you need to share some of it.
- 1:23:13Speaker 1: Selfishness is okay if it's diluted with altruistic activities. I
- 1:23:20Speaker 1: mean not selfishness, right. Selfishness is not okay, But yeah,
- 1:23:23Speaker 1: you have to some extent pursue your own selfish interest.
- 1:23:27Speaker 3: I think what's his name, the.
- 1:23:32Speaker 1: God, the Australian Effective Altruism Guide. I mean basically, he says, look,
- 1:23:37Speaker 1: I give ten percent and everybody should give ten percent charity,
- 1:23:42Speaker 1: And he says, look I should give more.
- 1:23:45Speaker 3: But I also, you know, as a you know.
- 1:23:48Speaker 1: I want to live in a decent place, and I
- 1:23:49Speaker 1: also want to eat decent food, and I want to
- 1:23:51Speaker 1: have decent clothes, and I get it. I should give more,
- 1:23:56Speaker 1: but I don't really want to. So it's okay to
- 1:23:59Speaker 1: pursue yourself in, just not too much of it. And
- 1:24:02Speaker 1: as and if you commit to doing ten percent, then
- 1:24:04Speaker 1: it's better than nothing. Then you've done at least some
- 1:24:06Speaker 1: altruistic but you should still feel guilty, still feel guilty
- 1:24:10Speaker 1: about not going all in. I think that is a
- 1:24:15Speaker 1: common out attitude among I say, you know the Peter Singer, Yes,
- 1:24:19Speaker 1: thank you, philosophy philosophical detective.
- 1:24:22Speaker 3: It's ridiculous.
- 1:24:23Speaker 1: My incapacity to remember names and woulds escape me, but yes,
- 1:24:29Speaker 1: Peter Singer. And I think that's it's a pretty common
- 1:24:32Speaker 1: attitude among now some Peter Singer. And there's a mecasical
- 1:24:38Speaker 1: I think at Oxford who go all in by saying, well,
- 1:24:42Speaker 1: you should pursue like a career and money so that
- 1:24:46Speaker 1: you will have more to give away. You should get rich.
- 1:24:49Speaker 1: She can give more away, right, but the aim is
- 1:24:54Speaker 1: to give more away. And yes, you have to sustain
- 1:24:56Speaker 1: yourself in the meantime. You have to be motivated, so yeah,
- 1:25:00Speaker 1: you can do some fun stuff you know, to stay
- 1:25:02Speaker 1: motivated so you can make more money, so you can.
- 1:25:04Speaker 3: Give more away.
- 1:25:06Speaker 1: But everything is underlined by a certain sense of altruism.
- 1:25:12Speaker 1: And anything you do that it self is that is
- 1:25:15Speaker 1: even tinggent with a little bit of self interest also
- 1:25:19Speaker 1: has to be it has to have an element of
- 1:25:22Speaker 1: guilt associated with it.
- 1:25:26Speaker 3: Christian, may I ask you where you? May I ask
- 1:25:31Speaker 3: you where?
- 1:25:33Speaker 1: Why you interrogated by security In my younger years, I
- 1:25:37Speaker 1: had my baggage checked, the goals were searching through the
- 1:25:42Speaker 1: underway in my backpack. But as a backpacker, I had
- 1:25:46Speaker 1: a great time in the Holy Land. Oh no, I
- 1:25:49Speaker 1: mean I wasn't interrogated by the border police in Israel.
- 1:25:54Speaker 1: I was interrogated by the real people there, what's called
- 1:25:57Speaker 1: the shin Bet, the Israeli in turn security forces. And
- 1:26:03Speaker 1: basically I was interrogated while I was in the army.
- 1:26:07Speaker 3: And I was.
- 1:26:07Speaker 1: Interrogated because they had identified me as an objectivist. So
- 1:26:13Speaker 1: I was interrogated because of my interest in I Rand,
- 1:26:16Speaker 1: because of my involvement with other objectivists, because there was
- 1:26:21Speaker 1: a little objective's movement in Israel. So objectivism was suspicious
- 1:26:26Speaker 1: in their eyes. And I had a long interrogation during
- 1:26:32Speaker 1: It was while Israel was in war with eleven and
- 1:26:35Speaker 1: nineteen eighty two, and it was a lengthy interrogation with
- 1:26:40Speaker 1: the shine Bit, and it was it's kind of scary
- 1:26:45Speaker 1: a lot of you know, I was threatened. And anyway,
- 1:26:49Speaker 1: sometime sometime, you know, if you played poker at OCON,
- 1:26:54Speaker 1: then you can ask me the question because that'll be
- 1:26:57Speaker 1: a good distraction for you guys. But I like distract
- 1:27:00Speaker 1: people during poker. But sometime I'll tell you the full,
- 1:27:02Speaker 1: the whole story. But yeah, and they actually punished me later,
- 1:27:09Speaker 1: not not right then, but I was. I was punished later.
- 1:27:13Speaker 1: My security clearance was basically taken away from me. I
- 1:27:16Speaker 1: had a top secret security clearance that was taken away
- 1:27:18Speaker 1: from me at some point.
- 1:27:20Speaker 3: So yeah, it was.
- 1:27:23Speaker 1: It was pretty it was pretty bad. You know. Israel
- 1:27:28Speaker 1: is a very imperfect country and certainly was when I
- 1:27:31Speaker 1: was there. All right, Uh, things look from this is
- 1:27:37Speaker 1: some yesterday. A question came in right at the end,
- 1:27:40Speaker 1: could you please tell the media source of guarding trade
- 1:27:43Speaker 1: deficit increases. It's super helpful when you name the original
- 1:27:46Speaker 1: source so we can forward them to others. Sure, I
- 1:27:49Speaker 1: mean this one, you can find it anywhere but while
- 1:27:51Speaker 1: she Journal suddenly had a story about it. Every one
- 1:27:55Speaker 1: of the big media companies had it. But it was
- 1:27:59Speaker 1: also covered by alternative media. Anybody honest about economics, uh
- 1:28:04Speaker 1: carried the story. But you can find it. You can
- 1:28:07Speaker 1: find it. Wall Steed Journal is good on these kind
- 1:28:09Speaker 1: of issues. So the trade deficit, I think, was one
- 1:28:13Speaker 1: of the top stories on the uh on the Wall
- 1:28:17Speaker 1: Street Journal yesterday.
- 1:28:18Speaker 3: And it's just facts, it's not I know.
- 1:28:21Speaker 1: I get accused all the time of relying too much
- 1:28:23Speaker 1: on what people call mainstream media.
- 1:28:25Speaker 3: Whatever the hell?
- 1:28:26Speaker 4: That is?
- 1:28:28Speaker 3: All right?
- 1:28:28Speaker 1: Uh, Chillie, chillis Summa. Have you been watching A Night
- 1:28:34Speaker 1: of Seven Kingdoms? If yes, what do you think of it? God?
- 1:28:39Speaker 3: What do I think of it?
- 1:28:40Speaker 1: Yes?
- 1:28:40Speaker 3: Ivn't watching? Ivn't watched the final episode. I guess that's soon.
- 1:28:44Speaker 3: This weekend is coming up.
- 1:28:50Speaker 4: You know.
- 1:28:50Speaker 3: It's it's kind of fun.
- 1:28:52Speaker 1: Uh.
- 1:28:53Speaker 3: I don't like that.
- 1:28:54Speaker 1: The hero is kind of a dufus. He's not very smart,
- 1:28:57Speaker 1: is he? Uh? He's big and brawn. Yeah, he has integrity.
- 1:29:05Speaker 1: He stands up for the weekend of poor as a
- 1:29:07Speaker 1: knight should do. He stands up to authority. Okay, but
- 1:29:11Speaker 1: it's it's pretty superficial. He's you know, at the end
- 1:29:18Speaker 1: of the day, the show, you know, and this is
- 1:29:21Speaker 1: true of of of all the all the what do
- 1:29:26Speaker 1: you call Game of Thrones. I mean, there's an enormous
- 1:29:29Speaker 1: amount of violence. The violence is pretty gross and unnecessary,
- 1:29:33Speaker 1: I think in it's in its explicit and explicit nature
- 1:29:37Speaker 1: and brutality. You know, there's a fight, he wins the fight.
- 1:29:43Speaker 1: It's like, Okay, what's it really about. I mean, a
- 1:29:49Speaker 1: better nights with with more integrity. And this is all
- 1:29:54Speaker 1: a prequel to the Game of Thrones universe. So I
- 1:29:59Speaker 1: enjoy it, but it's just it's just not that interesting
- 1:30:02Speaker 1: and it doesn't What it lacks is it lacks the
- 1:30:06Speaker 1: grandeur and drama and much deeper and more interesting themes
- 1:30:12Speaker 1: that Game of Thrones had. Grame of Thrones had some
- 1:30:18Speaker 1: just amazing episodes and some super overwhelmingly dramatic stuff. Uh,
- 1:30:25Speaker 1: they're just and visually, there were things in Game of
- 1:30:29Speaker 1: Thrones there just a few. Wow they did that, and
- 1:30:32Speaker 1: it was just it was so while the themes of
- 1:30:36Speaker 1: Game of Thrones overall are very limited because you're setting
- 1:30:41Speaker 1: it up in a barbaric environment where kings rulers absolute
- 1:30:47Speaker 1: rulers everywhere.
- 1:30:48Speaker 3: There's only so much you can do with that kind
- 1:30:50Speaker 3: of thing.
- 1:30:50Speaker 1: You're not gonna it's not gonna advocate for liberty or
- 1:30:53Speaker 1: freedom in any kind of way. But there were some
- 1:30:55Speaker 1: really good themes around. There were some really good themes
- 1:31:01Speaker 1: around religion and the role of religion in politics and
- 1:31:05Speaker 1: what happens.
- 1:31:05Speaker 3: When they combine.
- 1:31:09Speaker 1: So yeah, you know, it's I'm enjoying it, but I
- 1:31:14Speaker 1: just don't think it's great. And he's again, he's a
- 1:31:16Speaker 1: little even if you think he's in his late teens,
- 1:31:19Speaker 1: he's just he's not very smart. He doesn't come across
- 1:31:21Speaker 1: as very smart, and it's almost like they're playing him
- 1:31:24Speaker 1: that way on purpose. Even a teenager could be smart.
- 1:31:29Speaker 1: And you know, he.
- 1:31:34Speaker 3: Almost wins by luck. So it's it's not like he
- 1:31:38Speaker 3: won because he's smarter.
- 1:31:39Speaker 1: He won because he's a better fighter, most sophisticated fighter,
- 1:31:43Speaker 1: or most thoughtful fighter. He wins by luck. Which, yeah, James,
- 1:31:53Speaker 1: do you think this rom court released their decisions just
- 1:31:56Speaker 1: before the State of the Union on purpose, just to flex
- 1:31:59Speaker 1: their muscle? God, I never thought of that. When is
- 1:32:02Speaker 1: the State of the Union? I guess next Tuesday or something.
- 1:32:05Speaker 3: I don't know. It's a good question.
- 1:32:09Speaker 1: They're going to be there and he's gonna wag his
- 1:32:11Speaker 1: finger at them. He's he's not going to be nice
- 1:32:14Speaker 1: to them, So it's going to be interesting. Wow, I forgot.
- 1:32:19Speaker 1: That makes it all the more dramatic. Now I have
- 1:32:21Speaker 1: to watch the State of the Union even though I can't.
- 1:32:23Speaker 3: I can't.
- 1:32:24Speaker 1: Actually I find it very difficult to sit and listen
- 1:32:26Speaker 1: to Trump. I can read him, but listening to him
- 1:32:30Speaker 1: just yeah, he's such a horrible human being. Ian.
- 1:32:36Speaker 3: What percentage of tariffs have been thrown out?
- 1:32:41Speaker 1: About sixty percent, maybe fifty sixty percent, something in that range. Leam,
- 1:32:49Speaker 1: how is your interview with Moses Hassan? Could you convert
- 1:32:55Speaker 1: him to objectivism? No? No, I don't think he's he's
- 1:32:58Speaker 1: a convert to Christianity. There's reason to think that he's
- 1:33:01Speaker 1: going to convert to objectivism. It was good. You could
- 1:33:04Speaker 1: find it. It's online, It's on my channel, so check
- 1:33:08Speaker 1: it out. I mean, he's he's obviously an incredibly courageous, brave,
- 1:33:12Speaker 1: amazing human being there was that could do what he
- 1:33:14Speaker 1: did and and go through the kind of transformation that
- 1:33:17Speaker 1: he did.
- 1:33:18Speaker 3: I mean, my hat off to him.
- 1:33:20Speaker 1: Whatever, you know, whatever expression of respect. I have a
- 1:33:25Speaker 1: huge amount of respect for him, and he comes across
- 1:33:28Speaker 1: a super intense but super principled and and and dedicated
- 1:33:32Speaker 1: and understanding of the barbarity of the Palestinian culture as
- 1:33:38Speaker 1: it exists today. Clark says, there are only two things
- 1:33:45Speaker 1: for certain in life, death and taxes. Government powers are
- 1:33:49Speaker 1: treated as a metaphysical given. Yes, and you know, it's
- 1:33:54Speaker 1: very very very unpopular and rare for anybody to really
- 1:33:58Speaker 1: challenge them. It was Masabussan, Yes, Masab. You can find
- 1:34:07Speaker 1: it on my channel or on the an Institute channel
- 1:34:10Speaker 1: for a few days ago. Check out the interview. Definitely
- 1:34:15Speaker 1: go watch it. I think you'll enjoy it. Hoppa Campbell.
- 1:34:19Speaker 1: Property rights are not the rights of property. They are
- 1:34:22Speaker 1: the right of humans with regard to property. They are
- 1:34:26Speaker 1: they are a particular kind of human right.
- 1:34:29Speaker 3: Yeah, they were individual right there.
- 1:34:31Speaker 1: Right.
- 1:34:31Speaker 3: They're derivative of the right to life.
- 1:34:34Speaker 1: The right to life means you have a right to
- 1:34:38Speaker 1: create and and then own, that is, take control over
- 1:34:45Speaker 1: the things that you create. So the right to life
- 1:34:49Speaker 1: would be meaningless if you couldn't if you wouldn't have
- 1:34:52Speaker 1: beneficiary are the products of your work, the product of
- 1:34:55Speaker 1: your productivity, So it's the right to dispose of the
- 1:35:00Speaker 1: right to act on the right to create and then
- 1:35:04Speaker 1: dispose of your property.
- 1:35:06Speaker 3: Is you see fit.
- 1:35:08Speaker 1: So it's a it's an extension or a derivative of
- 1:35:12Speaker 1: the right to life. There's only really one right. There's
- 1:35:15Speaker 1: one human right or one individual right one and that
- 1:35:19Speaker 1: is the right to life. The right to property, the
- 1:35:22Speaker 1: right to free speech, the right to the right to liberty,
- 1:35:25Speaker 1: the right to pursuit of happiness, all of those are
- 1:35:28Speaker 1: derivatives of the right to life. Hopper Campbell, there is
- 1:35:37Speaker 1: a huge sexation on the Jewish, on the Jewish people,
- 1:35:41Speaker 1: unlike anything that would be tolerated towards any group of people.
- 1:35:44Speaker 3: Yeah, but that's always been the case.
- 1:35:47Speaker 1: It's an historical fact that at least since the birth
- 1:35:49Speaker 1: of Christianity, Jews to be singled out for special attention,
- 1:35:55Speaker 1: call it that for persecution for negative and negative views
- 1:36:00Speaker 1: and conspiracy theories and everything else. And it's in any
- 1:36:05Speaker 1: time of tribalism, the Jews tribe is identified, isolated and
- 1:36:12Speaker 1: attacked and nothing has changed. It's I think David Deutsch
- 1:36:18Speaker 1: calls it the patent. It's kind of a pattern. He
- 1:36:21Speaker 1: claims it goes back from before Christianity, I've yet to
- 1:36:24Speaker 1: see real evidence of that, but certainly since Christianity, there
- 1:36:29Speaker 1: is a patent always go after the Jews, and we're
- 1:36:33Speaker 1: seeing it again today.
- 1:36:36Speaker 3: Now Chavi's algorithm.
- 1:36:38Speaker 1: Will the tariffs still be collected, just under a different statute.
- 1:36:42Speaker 3: It looks like it.
- 1:36:43Speaker 1: It looks like it'll be different tariffs, different rates, different process,
- 1:36:48Speaker 1: but it will be under different statutes.
- 1:36:50Speaker 3: That's what Trump just announced.
- 1:36:52Speaker 1: It's a matter of him operationalizing that in an executive order,
- 1:36:55Speaker 1: and exactly how that functions we will see in the
- 1:36:57Speaker 1: next few days. But unfortunately, yes, although technically it seems
- 1:37:03Speaker 1: like they will have to return the tasks that are
- 1:37:08Speaker 1: being collected so far under the existing tariff. And remember
- 1:37:12Speaker 1: about fifty percent of the tariffs are not under this
- 1:37:16Speaker 1: particular provision, so they continue as usual, like the aluminum tariffs,
- 1:37:20Speaker 1: the furniture tariffs, those are under the National Security Provision.
- 1:37:25Speaker 3: Nanachavij algorithm.
- 1:37:26Speaker 1: Alito, Thomas, and Kavanaugh all descended howpathetic pure tribalism this
- 1:37:31Speaker 1: case was clear. Yes, I think Alito and Thomas's tribalism,
- 1:37:35Speaker 1: particularly Thomas, who is much better than this Kavanaugh, is pragmatism.
- 1:37:41Speaker 1: It's just I think he can't see the constitution. It's
- 1:37:45Speaker 1: just pragmatic. This is create chaos and it's a mess,
- 1:37:48Speaker 1: so why do it? And it has implications he doesn't
- 1:37:51Speaker 1: like Nachavi algorithm. Have you seen Ben Shapiro's comments on
- 1:37:56Speaker 1: this has been court ruling? They were actually pretty good? No, haven't.
- 1:38:03Speaker 1: I don't follow a bit Shapiro. You guys let me
- 1:38:06Speaker 1: know when he says something interesting. Yeah, I'm not surprised
- 1:38:09Speaker 1: he can be good on tariffs, just doesn't have the
- 1:38:12Speaker 1: same kind of moral passion around it that he has
- 1:38:15Speaker 1: about other topics because he doesn't want to alienate his audience.
- 1:38:21Speaker 1: Abam kempos what is wrong with Alito and the other
- 1:38:25Speaker 1: two justices?
- 1:38:27Speaker 3: This was an easy case.
- 1:38:29Speaker 1: Alito's conventional, Oh maybe not conventional. Alito is a big
- 1:38:37Speaker 1: government conservative, big executive conservative, give executive as much power
- 1:38:41Speaker 1: as he needs conservative. Thomas is become a Trump tribalist.
- 1:38:47Speaker 1: And Kavanaugh is a complete pragmatist. That's my interpretation. The oceanist.
- 1:38:53Speaker 1: You mean to tell me the tecker costs and the
- 1:38:54Speaker 1: guy who said he was attacked by a demon lyede? Yeah,
- 1:38:58Speaker 1: I know.
- 1:38:58Speaker 3: Isn't it horrible? Roman? How to save America from the
- 1:39:02Speaker 3: dark ages.
- 1:39:04Speaker 1: Keep doing what I'm doing, and you guys, do more
- 1:39:07Speaker 1: speak speak speak Challenge, challenge, challenge, and don't join tribes. Robert,
- 1:39:16Speaker 1: looking forward to your weekend episodes. But Amy and I
- 1:39:19Speaker 1: are interviewing He who shall not be named at six pm,
- 1:39:23Speaker 1: So don't run. Don't run too late.
- 1:39:26Speaker 3: Kidding, not kidding, kitting, not kidding. I'm not going to run.
- 1:39:31Speaker 1: Past four pm Eastern time, so you got plenty of
- 1:39:36Speaker 1: time you're planning.
- 1:39:37Speaker 3: Sorry.
- 1:39:39Speaker 1: I don't like to promote people from the athletic society,
- 1:39:41Speaker 1: so I'm not promoting him. But Stephen twenty dollars Question
- 1:39:51Speaker 1: two parts Sharia in Europe. Okay, let's see thoughts on
- 1:39:54Speaker 1: proposed to eliminate immigration benefits for all adherence to Sharia law.
- 1:40:01Speaker 1: Why not eliminate immigration benefits to all immigrants, why just
- 1:40:05Speaker 1: the ones of Sharia law? And why even let adherence
- 1:40:08Speaker 1: of Sharia law into the country. Why not just not
- 1:40:13Speaker 1: allow people who adhere to Sharia law into the country,
- 1:40:16Speaker 1: which is what I advocate them, always have advocated for.
- 1:40:20Speaker 1: So I don't understand that seems like a pretty weak
- 1:40:24Speaker 1: approach to dealing with people who want to kill you
- 1:40:28Speaker 1: and want to take over the country and replace its
- 1:40:32Speaker 1: government and want to undermine the very constitution of the
- 1:40:35Speaker 1: United States. Stephen also asks, as you have gotten noticeably
- 1:40:41Speaker 1: worth worth with Islamic migration, can it happen here?
- 1:40:44Speaker 5: It?
- 1:40:45Speaker 3: Probably it has gotten noticely worse.
- 1:40:47Speaker 1: I mean, there are places in Europe that are very
- 1:40:50Speaker 1: difficult to visit in terms of the dominance of the
- 1:40:54Speaker 1: Islamists there. Because of the multiculturalism in Europe, they tolerate
- 1:41:00Speaker 1: wait things that the Muslims are doing that are just unthinkable,
- 1:41:03Speaker 1: particularly the grooming gangs in England and some other sexual
- 1:41:07Speaker 1: valance around Europe. But I'd also say that in spite
- 1:41:14Speaker 1: of Islamic migration, Europe is still a great place to visit,
- 1:41:17Speaker 1: and there's plenty to see, and there's plenty to do,
- 1:41:20Speaker 1: and it's still much safer than the United States. Even
- 1:41:23Speaker 1: with all the violence that Muslims bring, it's still much
- 1:41:26Speaker 1: safer than the US. And if you look at cities
- 1:41:31Speaker 1: in countries wire Muslim immigration has gone up, like I
- 1:41:35Speaker 1: don't know, Stockholm in Sweden, real estate prices are still
- 1:41:39Speaker 1: going up, which means people still want to live there.
- 1:41:42Speaker 1: And if you look at the luxury end, you could say, oh, immigrants.
- 1:41:47Speaker 1: Illegal immigrants are driving up real estate prices, which is nonsense.
- 1:41:50Speaker 1: But if you look at the high end, which is
- 1:41:54Speaker 1: not where these immigrants are going to, that's rising because
- 1:41:56Speaker 1: which people, wealthy people want to live in a place
- 1:41:59Speaker 1: like Stockholm. So in spite of all everything you hear,
- 1:42:02Speaker 1: you only hear the negatives, the bad stuff, the horrors
- 1:42:04Speaker 1: that Europe is still a pretty cool place to live in,
- 1:42:08Speaker 1: pretty cool place to visit. Not as cool and as
- 1:42:12Speaker 1: the United States. But yeah, I mean, as you know,
- 1:42:15Speaker 1: I go to Europe, spend two months a year in
- 1:42:19Speaker 1: Europe at least, and yeah, I really enjoy it. And
- 1:42:23Speaker 1: so don't let the fact that the have Islamic immigration
- 1:42:27Speaker 1: stop you from going to visit. Could it happen here
- 1:42:30Speaker 1: in terms of making it worse than so, no, I don't.
- 1:42:33Speaker 3: Well, I mean, arguably.
- 1:42:35Speaker 1: You could say Dearborn, Michigan is a little worse, but
- 1:42:37Speaker 1: it's nowhere near or some parts of Minneapolis with the somologies,
- 1:42:41Speaker 1: but it's nowhere near the same. The United States is
- 1:42:44Speaker 1: very good at assimilating immigration immigrants, even Muslim immigrants. Now, yes,
- 1:42:49Speaker 1: I'll stay in some of their conclaves for a while,
- 1:42:51Speaker 1: but over the generations that will break up and they'll
- 1:42:54Speaker 1: go away. Also, the number of Muslims immigrating to the
- 1:42:56Speaker 1: United States is so small, it's an insignificant number. It
- 1:43:01Speaker 1: doesn't move the needle really. Whereas because of where Europe
- 1:43:06Speaker 1: is located, close to the Middle East and Northern Africa,
- 1:43:09Speaker 1: and because of the civil wars in that region, Europe
- 1:43:13Speaker 1: has experienced mass immigration of Muslims, which is very different
- 1:43:16Speaker 1: than normal immigration. So Europe has to be worried about
- 1:43:20Speaker 1: the mass immigration of Muslims into it. The United States
- 1:43:22Speaker 1: doesn't have that worry.
- 1:43:26Speaker 3: Jjgigbs.
- 1:43:27Speaker 1: Do you shay the sentiment that if America in mass
- 1:43:30Speaker 1: turns against the Jews culturally, politically, that that means American
- 1:43:35Speaker 1: project is over. Yes, I mean to the extent that
- 1:43:39Speaker 1: I mean that would be true if the American Americans
- 1:43:42Speaker 1: today turned against blacks or you know, and I think
- 1:43:46Speaker 1: that the nature of the way in which MEGA and
- 1:43:49Speaker 1: the Trumpet administration has turned against immigrants, if the entire
- 1:43:52Speaker 1: American society turned against immigrants the way MEGA is against immigrants,
- 1:43:57Speaker 1: then you'd have to say, it's the last days of America.
- 1:44:01Speaker 3: This is not good.
- 1:44:02Speaker 1: So that kind of tribalism and that kind of okay
- 1:44:06Speaker 1: of violence towards a minority. Yeah, it really is. You'd
- 1:44:15Speaker 1: think we progressed and and and and gotten over that.
- 1:44:18Speaker 1: We had that with Jim Crow, laws, with k Klux Klan,
- 1:44:22Speaker 1: with slavery, of course, and we got over it. And
- 1:44:27Speaker 1: to descend back into that as we are in a
- 1:44:30Speaker 1: sense with with immigration is just horgoble, just horble. Roman says,
- 1:44:41Speaker 1: when will Access start his first holy war? Well, I
- 1:44:44Speaker 1: mean the problem is a holy war inside America.
- 1:44:47Speaker 3: That's the really scary part.
- 1:44:50Speaker 1: Roberts says, When Amy and I went to Paris a
- 1:44:53Speaker 1: few years back, it was simply magnificent. Absolutely did old London.
- 1:44:57Speaker 1: I love London. I'll be there soon an incident. The
- 1:45:00Speaker 1: Amy works in Deerbone. And while there are parts of
- 1:45:03Speaker 1: town I wouldn't care to visit, it's otherwise a great city. Yeah,
- 1:45:07Speaker 1: there are parts of town in any city you wouldn't
- 1:45:09Speaker 1: care to visit. Have more they do with poverty and
- 1:45:13Speaker 1: gangs than it has to do with ethnic groups.
- 1:45:16Speaker 3: There's certainly human San Juan.
- 1:45:18Speaker 1: There are parts of town I don't visit, all right,
- 1:45:22Speaker 1: Michael Maga Christians, thank you, Robert Maga. Christians are treating
- 1:45:26Speaker 1: their Epstein files like they do the Bible. They just
- 1:45:29Speaker 1: pick and choose which parts they want to believe. Yes,
- 1:45:32Speaker 1: and then they analyze them and they find conspiracies behind them,
- 1:45:35Speaker 1: and they do biblical analysis to the emails, and yeah,
- 1:45:39Speaker 1: they and they and but you're right, they PI can choose.
- 1:45:42Speaker 1: There's certain things that are very uncomfortable, like Bannon. Bannon
- 1:45:46Speaker 1: was very close to Epstein, and yet his show is
- 1:45:49Speaker 1: still as popular as ever as far as I can tell, Jennifer,
- 1:45:53Speaker 1: thank you for the awesome show.
- 1:45:54Speaker 3: Thank you.
- 1:45:54Speaker 1: Jennifer really appreciate the support. Robert thanks says, thank you,
- 1:45:58Speaker 1: thank you, Robert. Linda says, with things heating up in
- 1:46:03Speaker 1: the Middle East, how do you feel about auctioning the painting? Oh,
- 1:46:06Speaker 1: the painting? God, Yeah, we can do something. I need
- 1:46:10Speaker 1: to get my act together. Let me see if I
- 1:46:12Speaker 1: can get my act together this weekend. I need to
- 1:46:13Speaker 1: look at it again. It is there a more developed
- 1:46:17Speaker 1: because you said that was a work in progress.
- 1:46:19Speaker 3: Is there more developed version of it? But we can
- 1:46:22Speaker 3: do We can do that. Thanks for reminding me.
- 1:46:25Speaker 1: Maybe send me another email later today tomorrow. God, there's
- 1:46:30Speaker 1: so many things you have no idea, guys, and I
- 1:46:35Speaker 1: just find it hard to stake to keep everything top
- 1:46:40Speaker 1: of consciousness. But but yes, we can probably do something
- 1:46:43Speaker 1: with the painting.
- 1:46:44Speaker 3: I go, I did want to tell you this.
- 1:46:49Speaker 1: While we can do it, it strikes me as you're
- 1:46:53Speaker 1: missing out in a whole audience by doing it with me.
- 1:46:56Speaker 1: I mean, there's a there's a massive pro Uranean audience
- 1:47:00Speaker 1: and like places like Twitter and that. I think I
- 1:47:06Speaker 1: think you could do a lot better by doing an auction.
- 1:47:12Speaker 1: I don't know how you would do it, but using
- 1:47:14Speaker 1: Twitter and social media and and hooking into the Uranian
- 1:47:19Speaker 1: diaspac who are very wealthy. I'd be happy to promote that,
- 1:47:24Speaker 1: and we could do something related to the show as well.
- 1:47:27Speaker 1: But I remember I wanted to tell you that this
- 1:47:30Speaker 1: is a painting of that photograph of the one of
- 1:47:35Speaker 1: the Uranian goals burning with a cigarette, a photo of Atamini,
- 1:47:42Speaker 1: so very powerful image as a photograph and now now
- 1:47:46Speaker 1: as a painting. And but I think you could do
- 1:47:48Speaker 1: really really well hooking into somehow hooking into the the
- 1:47:56Speaker 1: the that that audience. And I don't know if I
- 1:47:58Speaker 1: can get that audience to come in and come to
- 1:48:00Speaker 1: my show, but I wonder if there's a way to
- 1:48:03Speaker 1: levage social media to get to that audience and do
- 1:48:06Speaker 1: much better than you will do on my show. So
- 1:48:10Speaker 1: that's the thought I had, just in terms of maximizing
- 1:48:12Speaker 1: the revenue for it. So let's talk about it. Oh,
- 1:48:17Speaker 1: you think about it, and let me know, take that
- 1:48:21Speaker 1: into a consideration, think about it. I don't know, all right,
- 1:48:24Speaker 1: Christian shocked to hear the Chabbuck story. Objectivists are the
- 1:48:30Speaker 1: biggest defenders of Israel today, So I hope those agents
- 1:48:33Speaker 1: now know better. You know, who knows?
- 1:48:36Speaker 3: One day.
- 1:48:37Speaker 1: I don't know. I need to see if I can,
- 1:48:42Speaker 1: you know, maybe they'll let me look at my file.
- 1:48:45Speaker 3: I have a file at the Shabuk because of that.
- 1:48:47Speaker 1: I probably have a file in the Shabuk because of
- 1:48:49Speaker 1: all my po Israel activism. But I don't know what
- 1:48:53Speaker 1: the perception is of me and Israel. I know APAC
- 1:48:56Speaker 1: won't use me because I'm too radical. I think I
- 1:49:00Speaker 1: think they still hesitant about me. Thank you, guys, appreciate
- 1:49:06Speaker 1: all the support. You know, I appreciate all the super chats.
- 1:49:11Speaker 1: I will see you all tomorrow at the AMA Sunday
- 1:49:15Speaker 1: at the MAMAZONI Show. And what else did I want
- 1:49:22Speaker 1: to say? Yes, let's leave it at that catch you tomorrow. Bye, everybody,
- 1:49:28Speaker 1: have a great, great, great great weekend. Bye.