WEBVTT - Justin Wolfers & Jacob Soboroff

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<v Speaker 1>Hi, I'm Molly John Fast and this is Fast Politics,

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<v Speaker 1>where we discussed the top political headlines with some of

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<v Speaker 1>today's best minds, and we have such a great show

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<v Speaker 1>for you today. Think like an economist. Justin Wolfers joins

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<v Speaker 1>us to talk about the good, bad, and very bad

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<v Speaker 1>economic vibes coming from the Trump White House. Then we'll

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<v Speaker 1>talk to MS now's own Jacob Sober about his fabulous

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<v Speaker 1>new book Firestorm, the great Los Angeles Fires, and America's

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<v Speaker 1>new age of disaster. But first the news Somalie.

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<v Speaker 2>We thankfully taped our episode before the horrific shooting in

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<v Speaker 2>Minneapolis the other day. I can't think of how long

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<v Speaker 2>it's been since I've been that angry. As we're seeing

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<v Speaker 2>here is Mega will never have any shame about what

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<v Speaker 2>they will turn into a culture war and a message

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<v Speaker 2>to their base that if you do horrible things, they

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<v Speaker 2>will stand by.

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<v Speaker 1>So I want to talk about a few things in

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<v Speaker 1>this story. One is that the police, or ice or

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<v Speaker 1>any law enforcement does not have the right to kill you,

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<v Speaker 1>even if you do bad stuff. They do not have

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<v Speaker 1>the right. We still have due process in this country,

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<v Speaker 1>you have bodily autonomy. You cannot kill people even if

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<v Speaker 1>you don't like them, even if they are a quote

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<v Speaker 1>unquote leftist, as the New York Post said yesterday. But

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<v Speaker 1>that said, I think the worst part of this story.

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<v Speaker 1>And look, not all victims of police violence are beautiful,

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<v Speaker 1>red haired Christian women who have six year old children

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<v Speaker 1>who they've just dropped off at school and a glove

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<v Speaker 1>compartment filled with stuffed animals. Most victims of police violence

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<v Speaker 1>don't necessarily look like that. But Magilworld has stumbled into

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<v Speaker 1>a hornet's nest, and they are just keep they just

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<v Speaker 1>keep kicking at the hornets. Here is a woman who

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<v Speaker 1>is every woman in Minnesota, right. She looks like everyone

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<v Speaker 1>in Minnesota. She acts like much of Minnesota. You know,

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<v Speaker 1>a lot of times Trump World will somehow imply that

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<v Speaker 1>a victim of police violence is a criminal or deserves

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<v Speaker 1>this because they were maybe a drug addict, or maybe

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<v Speaker 1>you know, we're involved, or maybe held a weapon. This

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<v Speaker 1>is a woman who had just dropped off her six

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<v Speaker 1>year old at school. So with that, there have been

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<v Speaker 1>videos that we have seen of her trying to make

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<v Speaker 1>a three point turn while the ice agents jumped in

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<v Speaker 1>front of her and shot her three times point blank.

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<v Speaker 1>Now there is a new video which has audio. So

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<v Speaker 1>Renee Nicole Good says that's fine, dude, I'm not mad

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<v Speaker 1>at you, and the ICE agent shoots her three times

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<v Speaker 1>in the face and says, fucking bitch, we all rage.

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<v Speaker 2>Al hawk activities right there.

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<v Speaker 1>But also, you can't shoot people in the face you

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<v Speaker 1>can't like, even if you don't like them, even if

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<v Speaker 1>they make you upset, you can't shoot people in the face.

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<v Speaker 1>And then, by the way, after she's shot in the

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<v Speaker 1>face three times, a thirty seven year old woman with

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<v Speaker 1>a six year old child, she is then denied medical care.

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<v Speaker 1>There is a doctor who comes and tries to treat her,

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<v Speaker 1>and ICE says no. So not only is this like murder,

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<v Speaker 1>but it's some kind of terrifying where they keep her hostage,

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<v Speaker 1>and instead of acting the way normal government might, which

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<v Speaker 1>is to say we have to investigate this, we can't

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<v Speaker 1>comment until it's investigated, they without any investigations, say, you know,

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<v Speaker 1>this is not how any of this looks. She was

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<v Speaker 1>an activist, she was this, and.

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<v Speaker 2>Then moleftists movement right radical leftist movement.

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<v Speaker 1>And they malign her. And then they say the FBI

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<v Speaker 1>is going to do the investigation and they won't let

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<v Speaker 1>Minnesota do the investigation. This is not a federal government

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<v Speaker 1>that any state wants involved in their state. And this

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<v Speaker 1>is where you're going to see a breakdown of federalism.

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<v Speaker 1>And I can't tell you how scary it is to

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<v Speaker 1>have a federal government that we pay taxes to and

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<v Speaker 1>they come in and do insanity to us. Right, Minnesota

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<v Speaker 1>was just minding their business and Ice and Border Patrol

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<v Speaker 1>came in, killed one woman, shot two other people yesterday

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<v Speaker 1>and now won't let the local authorities investigate because they

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<v Speaker 1>want what do they want? They want to have their

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<v Speaker 1>own people do the kind of investigation you see in

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<v Speaker 1>a Banana Republic. I cannot express to you just the

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<v Speaker 1>level of corruption. And by the way, two other things.

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<v Speaker 1>The reason you know that Trump world knows this is

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<v Speaker 1>a loser and knows that this is going to fuck

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<v Speaker 1>them and by the way, good.

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<v Speaker 2>God, yeah they fucking got But.

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<v Speaker 1>The reason why they know this the problem is because

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<v Speaker 1>you don't see Donald Trump out there right dancing and

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<v Speaker 1>being jubilant. You see Jade Vance. And Donald Trump is

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<v Speaker 1>more than happy to let Jade Vance be the face

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<v Speaker 1>of failure.

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<v Speaker 2>It is true, he's going the full bided Kabbola and

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<v Speaker 2>just letting JD do all the unpopular fish. What I

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<v Speaker 2>think though, is great. Hats off to Congressman Jared Moskowitz

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<v Speaker 2>is he did a profound performance of the Congressional for yesterday,

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<v Speaker 2>bringing the attention to something we need to do, which

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<v Speaker 2>is it's time for Ice Barbie Christi Noman to go,

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<v Speaker 2>and many Democrats seem to be calling for this. Though

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<v Speaker 2>I wish someone in the leadership were a little more

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<v Speaker 2>stern with it, but that's a different story for a

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<v Speaker 2>different time.

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<v Speaker 1>She should be impeached. I think that she should go.

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<v Speaker 1>I think that Trump world, unless you hold these people accountable,

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<v Speaker 1>they will not do anything. Two good things happening the

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<v Speaker 1>Democratic leadership has done that has been good War Powers Act.

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<v Speaker 1>Five Republicans voted with Democrats in the Senate on this

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<v Speaker 1>War Powers Act, trying to prevent Donald Trump from doing

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<v Speaker 1>any more stuff in Venezuela. My strongest guess is that

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<v Speaker 1>Donald Trump has completely lost interest in Venezuela and we

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<v Speaker 1>won't hear from it again. Probably not great for Venezuelans.

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<v Speaker 1>And then the other thing that they did, which I

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<v Speaker 1>think is good, is that we had Leader Jeffries get

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<v Speaker 1>this Obamacare tax credit. This expansion for three more years,

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<v Speaker 1>and that has been seventeen Republicans voted for that. So look,

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<v Speaker 1>that now goes to the Senate, and there's a world

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<v Speaker 1>like just like with the Epstein files, which by the way,

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<v Speaker 1>this DJ has not released to release one percent of

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<v Speaker 1>the Epstein files. It is still pretty good to see

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<v Speaker 1>some of these Republicans breaking with Trump. Obviously not what

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<v Speaker 1>we need, but still good.

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<v Speaker 2>So, speaking of the Epstein files, Molly, I think this

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<v Speaker 2>maneuver by Congressman Rocanna and Tom Massey never would have

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<v Speaker 2>seen us seeing Thomas Massey doing good things a year ago.

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<v Speaker 2>They're going to try to get a judge to oversee

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<v Speaker 2>the release of the Epstein files so that Pam Bondi

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<v Speaker 2>could stop obstructing and protecting the pedophile cabal.

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<v Speaker 1>Yeah, they want a special Master. Rocanna has been really

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<v Speaker 1>great on this and this is a really small We

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<v Speaker 1>know that there's a reporting that says only one percent

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<v Speaker 1>of the Epstein file stuff has been released. That is

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<v Speaker 1>absolutely insane. I am just super horrified by that. I think,

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<v Speaker 1>as far as I can tell, that there is a

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<v Speaker 1>real appetite for releasing of the Epstein files, and I

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<v Speaker 1>think that Donald Trump is doing everything he can to

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<v Speaker 1>obfuscate and try to not let people see them, not

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<v Speaker 1>have the DOJ release them, and so having a special

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<v Speaker 1>master would be really great. So I think that this

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<v Speaker 1>is a really smart way to do it. Again, these

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<v Speaker 1>guys have had to just do everything they every which

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<v Speaker 1>way they can to get people to pay attention to this.

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<v Speaker 2>So, Maali, the continued competence of Mega Rain's true. Again,

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<v Speaker 2>they just are the most competent.

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<v Speaker 1>Oh yeah, they're known for their competence.

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<v Speaker 2>He only hires the best people. And the prosecutor has

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<v Speaker 2>been disqualified from investigating with James A. Judges ruled great stuff.

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<v Speaker 1>Yeah, here's where we are. Trump blocked a Trump appointed

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<v Speaker 1>federal prosecutor from overseeing a criminal investigation into New York

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<v Speaker 1>Attorney General. Do you know why he did that, Kelly?

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<v Speaker 1>Because US district judge ruled that Trump loyalist John Sarcone

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<v Speaker 1>has been unlawfully serving as interim US attorney for the

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<v Speaker 1>Northern District of New York. There have been a couple

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<v Speaker 1>of Trump people where he's put them in as US

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<v Speaker 1>attorneys and they have been ruled to be illegal. So

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<v Speaker 1>this is yet another one. This federal prosecutor has oversted

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<v Speaker 1>his legal one hundred and twenty day appointment, and we

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<v Speaker 1>saw this. This was the thing we saw with everyone's

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<v Speaker 1>favorite pageant queen in the Southern District of Virginia. You

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<v Speaker 1>know what they're doing is they're doing emergency power stuff

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<v Speaker 1>because they can't get congressional approval for stuff. And that

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<v Speaker 1>is the secret to Trump is you can't get the courts.

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<v Speaker 1>And that's why, like when we talk about fixing the system,

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<v Speaker 1>one of the things that we're going to really need

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<v Speaker 1>is we're going to need all of those emergency powers.

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<v Speaker 1>I mean, there are emergency Powers Acts that have not

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<v Speaker 1>been repealed since nine to eleven. There are things that

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<v Speaker 1>are working not the way they're supposed to. They're working

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<v Speaker 1>on these sort of emergency war power stuff and that

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<v Speaker 1>has to stop. We have to sort of reset back

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<v Speaker 1>to a system of like the most checks and balances

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<v Speaker 1>you've ever seen, where you have real democratic norms and

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<v Speaker 1>you really don't have any of these sort of special

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<v Speaker 1>emergency powers. Because that's how we got That was sort

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<v Speaker 1>of the first step towards this presidency of a kind

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<v Speaker 1>of unchecked power. We have exciting news over at our

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<v Speaker 1>YouTube channel. This second episode from our Project twenty twenty

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<v Speaker 1>nine series is out now. It's a reimagining where we

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<v Speaker 1>examined what went wrong with democrats approach to politics and

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<v Speaker 1>how we can correct it and deliver changes to help

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<v Speaker 1>people's lives. The first episode dove into the very sexy

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<v Speaker 1>topic of campaign finance reform, and our second episode deals

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<v Speaker 1>with an even sexier topic, antitrust and regulation. We look

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<v Speaker 1>at how antitrust and regulation can protect American citizens and

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<v Speaker 1>make America thrive in an era of rampant corruption and

0:10:29.440 --> 0:10:33.760
<v Speaker 1>predatory crony capitalism. We talk to the smartest names in

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<v Speaker 1>the field like Lena Khan, el Vero Bedoya, Elizabeth Wilkins,

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<v Speaker 1>and Doha Mechi. Republicans were prepared for when they got

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<v Speaker 1>the levers of power. We need democrats to be too.

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<v Speaker 1>So please head over to YouTube and search Molli John

0:10:50.679 --> 0:10:54.080
<v Speaker 1>Fast Project twenty twenty nine or go to the Fast

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<v Speaker 1>Politics YouTube channel and find it there and help us

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<v Speaker 1>spread the word. Justin Wolfers, as a host of The

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<v Speaker 1>Thing Like an Economists podcast and a professor at the

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<v Speaker 1>University of Michigan, Welcome back, too Vast Politics.

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<v Speaker 3>Justin Wolfers, Well, I love Hall exaud If you always

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<v Speaker 3>said about talking, ready can only she say, Thank goodness,

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<v Speaker 3>it's economic style.

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<v Speaker 1>Can totally.

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<v Speaker 2>I'm so excited.

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<v Speaker 1>Things are going great every time we talk about the

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<v Speaker 1>numbers that come out of this admin. We finally got

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<v Speaker 1>some labor numbers from the Bureau of Labor and Statistics.

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<v Speaker 1>Talk us through what these numbers mean.

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<v Speaker 3>Okay, can we do a second rehearsal. Will you sound

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<v Speaker 3>liss bored?

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<v Speaker 1>Well, no, I'm not bored. I'm cynical about these numbers.

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<v Speaker 1>And I don't know how cynical to be about these numbers,

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<v Speaker 1>because remember, I mean, I know it was six months ago,

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<v Speaker 1>but Trump did fire the head of this organization because

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<v Speaker 1>he didn't like the set of numbers they released. So

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<v Speaker 1>I want you to sort of talk us through what

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<v Speaker 1>they mean, if they're real, etc. Etc. It's not boredom,

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<v Speaker 1>it's cynicism.

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<v Speaker 3>Okay, great, So the numbers were good enough that he

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<v Speaker 3>didn't fire anyone this morning. Right, So let me go

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<v Speaker 3>back a step and bring your whole audience in.

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<v Speaker 2>Right.

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<v Speaker 3>We're always trying to get a pulse of what's going

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<v Speaker 3>on in the economy. You might think that measuring the

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<v Speaker 3>economy is very straightforward. It turns out, for an economy

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<v Speaker 3>this big and this complicated. It's very very complicated, indeed, because.

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<v Speaker 1>You have different element of the economy.

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<v Speaker 3>Yeah, how do you even know who's doing business? How

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<v Speaker 3>do you know how many people are out there? How

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<v Speaker 3>do you know? You might be able to say what

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<v Speaker 3>share of people have a job, but how many people

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<v Speaker 3>are there in the US even there are so many

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<v Speaker 3>unknowns and this makes this a surprisingly difficult technical task.

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<v Speaker 3>So the most reliable indicator is what we call the

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<v Speaker 3>jobs report. That's why you and I, Molly tend to

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<v Speaker 3>talk on average after the first Friday of every month,

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<v Speaker 3>which is when these latest numbers come out. Measures the

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<v Speaker 3>unemployment right, which is one of the best indicators for

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<v Speaker 3>how the economy is doing for you and I, But

0:12:58.360 --> 0:13:01.920
<v Speaker 3>the one the markets really watches employment growth. They watch

0:13:02.000 --> 0:13:04.959
<v Speaker 3>that because it's got very good statistical properties. There's more

0:13:05.000 --> 0:13:10.600
<v Speaker 3>signal than noise normally in a normal hero then end

0:13:10.840 --> 0:13:13.160
<v Speaker 3>the lesson there and move to talking about the world.

0:13:13.679 --> 0:13:15.280
<v Speaker 3>But we're not in the normal moment, or in a

0:13:15.280 --> 0:13:19.479
<v Speaker 3>moment where as you say, Molly, the president fires statisticians

0:13:19.520 --> 0:13:21.920
<v Speaker 3>who give him facts he doesn't like, has tried to

0:13:21.960 --> 0:13:26.000
<v Speaker 3>put in place Charlattan's and clowns and undermined the very

0:13:26.040 --> 0:13:28.920
<v Speaker 3>notion of truth. So how much should you believe these numbers?

0:13:28.960 --> 0:13:32.959
<v Speaker 3>And the answer is so far these are as honest

0:13:33.400 --> 0:13:36.760
<v Speaker 3>as can be, so I believe them. Now, let me

0:13:37.080 --> 0:13:39.320
<v Speaker 3>be clear about what I do and don't believe. What

0:13:39.360 --> 0:13:41.400
<v Speaker 3>I believe is that these are a serious estimate of

0:13:41.440 --> 0:13:46.320
<v Speaker 3>what's going on, using serious, high quality statistical methods. Now,

0:13:46.640 --> 0:13:49.520
<v Speaker 3>remember it's always difficult, so that doesn't mean they're exactly right.

0:13:50.400 --> 0:13:53.880
<v Speaker 3>Second thing is right. Now things are even more complicated

0:13:53.920 --> 0:13:56.800
<v Speaker 3>because we just had a government shutdown where some numbers

0:13:56.800 --> 0:14:00.520
<v Speaker 3>weren't collected, and even more, the Bureau of Labour's satistics

0:14:00.559 --> 0:14:01.400
<v Speaker 3>is under resource.

0:14:01.480 --> 0:14:02.479
<v Speaker 2>But what I don't.

0:14:02.200 --> 0:14:05.480
<v Speaker 1>Believe is that we had the longest government shut down ever,

0:14:06.000 --> 0:14:08.120
<v Speaker 1>so there's not a precedent for it.

0:14:08.440 --> 0:14:10.640
<v Speaker 3>Right, For the first time since nineteen thirty nine, we

0:14:10.760 --> 0:14:13.199
<v Speaker 3>literally skipped a month of measuring employment and unemployment in

0:14:13.200 --> 0:14:15.480
<v Speaker 3>the United States, which we've never done before.

0:14:15.600 --> 0:14:17.400
<v Speaker 2>I know, Molly, like me.

0:14:17.800 --> 0:14:20.800
<v Speaker 3>It kept you awake, thrashing in the middle of the night,

0:14:21.320 --> 0:14:22.320
<v Speaker 3>yea cold space.

0:14:22.480 --> 0:14:24.320
<v Speaker 1>What did it to the viewers?

0:14:24.360 --> 0:14:27.040
<v Speaker 3>I should that the audience. I should know Molly would

0:14:27.080 --> 0:14:29.880
<v Speaker 3>call me and just say, hold me, what is going on?

0:14:30.840 --> 0:14:34.400
<v Speaker 3>So all of this makes things more complicated. Plus, the

0:14:34.480 --> 0:14:37.920
<v Speaker 3>economy is even more complicated because what we have is

0:14:38.400 --> 0:14:41.440
<v Speaker 3>an enormous immigration shock going on, and so it makes

0:14:41.440 --> 0:14:44.119
<v Speaker 3>it even more difficult to know literally how many Americans

0:14:44.120 --> 0:14:46.320
<v Speaker 3>there are. What hasn't happened is these numbers went to

0:14:46.320 --> 0:14:47.800
<v Speaker 3>the White House, and the White House said no, no,

0:14:47.880 --> 0:14:50.120
<v Speaker 3>The Department of Lies and Propaganda would like you to

0:14:50.120 --> 0:14:52.760
<v Speaker 3>believe the following instant. So these are true numbers. Now

0:14:53.000 --> 0:14:54.840
<v Speaker 3>here's the other way I know they're true. They don't

0:14:54.840 --> 0:14:59.280
<v Speaker 3>serve the administration's purpose. What happened this month as we

0:14:59.400 --> 0:15:03.320
<v Speaker 3>learned that job growth last month was fifty thousand, which

0:15:03.360 --> 0:15:05.680
<v Speaker 3>is very very low. That's so low that you could

0:15:05.720 --> 0:15:08.600
<v Speaker 3>say you'd call it nearly zero. We had almost no

0:15:08.800 --> 0:15:10.960
<v Speaker 3>job growth. And then the other thing that happens is

0:15:11.040 --> 0:15:13.320
<v Speaker 3>every month we learn more about what happened earlier in

0:15:13.320 --> 0:15:17.400
<v Speaker 3>our history. Sometimes mentioned businesses don't send in their reports

0:15:17.400 --> 0:15:19.440
<v Speaker 3>of how many people are on payroll on time, and

0:15:19.480 --> 0:15:21.520
<v Speaker 3>they send them in a little bit later. As a result,

0:15:21.600 --> 0:15:24.360
<v Speaker 3>we revised the numbers to make them more accurate. And

0:15:24.800 --> 0:15:27.160
<v Speaker 3>one of the really big things that happened was that

0:15:27.240 --> 0:15:29.680
<v Speaker 3>we learned in the fact that October is one of the

0:15:29.680 --> 0:15:34.200
<v Speaker 3>worst recent months we've had that jobs fell enormously in

0:15:34.320 --> 0:15:38.840
<v Speaker 3>October and they rose by lesson we previously thought November. Again,

0:15:38.880 --> 0:15:40.560
<v Speaker 3>for the audience, I don't want you to take month

0:15:40.640 --> 0:15:42.160
<v Speaker 3>to month up and downs very seriously.

0:15:42.200 --> 0:15:43.080
<v Speaker 4>Often, what we'll do is.

0:15:43.000 --> 0:15:45.680
<v Speaker 3>We'll average over what's happening over the past three months,

0:15:45.800 --> 0:15:49.720
<v Speaker 3>and when you do that, here's the payoff long later. Finally,

0:15:49.800 --> 0:15:52.000
<v Speaker 3>the poff when you look at the last three months,

0:15:52.160 --> 0:15:53.080
<v Speaker 3>we're losing.

0:15:52.840 --> 0:15:55.840
<v Speaker 1>Jobs and it's proof that they're not juicing the numbers.

0:15:56.040 --> 0:15:58.880
<v Speaker 1>The point you're saying is that they if they were

0:15:58.960 --> 0:16:01.120
<v Speaker 1>juicing the numbers, they have made them great.

0:16:01.400 --> 0:16:04.800
<v Speaker 3>If they were liars, if there were high quality liars,

0:16:05.040 --> 0:16:07.200
<v Speaker 3>these wouldn't be the liars they'd tell. There's a little

0:16:07.200 --> 0:16:09.880
<v Speaker 3>bit of leave unsaid right there, but no, these are

0:16:09.920 --> 0:16:13.200
<v Speaker 3>absolutely serious estimates. What these estimates tell us, though, is

0:16:13.200 --> 0:16:15.680
<v Speaker 3>that we're in a job's recession, by which I mean

0:16:15.720 --> 0:16:18.760
<v Speaker 3>it's not clear. A recession typically means output is declining.

0:16:19.520 --> 0:16:22.880
<v Speaker 3>It may be we're going to find out, but the

0:16:22.960 --> 0:16:26.240
<v Speaker 3>number of jobs is declining, the number of workers people

0:16:26.280 --> 0:16:29.000
<v Speaker 3>in work is declining. It's been declining for the past

0:16:29.040 --> 0:16:33.840
<v Speaker 3>three months. It's also the case that for wildly oninteresting

0:16:33.880 --> 0:16:37.560
<v Speaker 3>technical reasons, these numbers may be overstated. FED Chair Powell

0:16:37.640 --> 0:16:39.920
<v Speaker 3>said of this last press conference, he thinks they're overstated

0:16:39.960 --> 0:16:42.560
<v Speaker 3>by sixty thousand per month. Based on these numbers, ever

0:16:42.600 --> 0:16:46.360
<v Speaker 3>since Liberation Day, remember the beginning of Trump's trade war

0:16:46.360 --> 0:16:49.560
<v Speaker 3>that happened in April, We've created almost no jobs. It

0:16:49.640 --> 0:16:53.840
<v Speaker 3>may be that we subsequently learned we've actually been shrinking

0:16:53.840 --> 0:16:55.480
<v Speaker 3>the number of jobs we have in the economy since

0:16:55.520 --> 0:16:56.280
<v Speaker 3>Liberation Day.

0:16:56.440 --> 0:16:59.520
<v Speaker 1>So it could literally be zero right now.

0:16:59.560 --> 0:17:01.040
<v Speaker 3>It's awful close to zero.

0:17:01.680 --> 0:17:04.360
<v Speaker 1>But it could literally be negative fifty thousand.

0:17:04.760 --> 0:17:09.000
<v Speaker 3>More than that, it negatives fifty thousand per month over

0:17:09.040 --> 0:17:10.199
<v Speaker 3>the last seven months.

0:17:10.800 --> 0:17:13.360
<v Speaker 1>So and this is just and you don't have and

0:17:13.400 --> 0:17:18.040
<v Speaker 1>these measures don't measure every aspect of employment, right because

0:17:18.640 --> 0:17:21.800
<v Speaker 1>certain employment comes in later. That's why there's revisions.

0:17:22.080 --> 0:17:25.880
<v Speaker 3>What Powell said, FED Chair, who has the best economic

0:17:25.920 --> 0:17:29.280
<v Speaker 3>staff in the world, is he said, their estimate is

0:17:29.320 --> 0:17:33.240
<v Speaker 3>that these numbers overestimate monthly job growth by sixty thousand

0:17:33.359 --> 0:17:36.680
<v Speaker 3>for quote technical reasons. Now, let me explain what technical

0:17:36.760 --> 0:17:40.200
<v Speaker 3>reasons are so you understand why this isn't so simple. Really,

0:17:40.200 --> 0:17:42.440
<v Speaker 3>what the way we measure employment is we send out

0:17:42.560 --> 0:17:44.280
<v Speaker 3>forms to all the firms that are out there and

0:17:44.320 --> 0:17:46.960
<v Speaker 3>ask them how many workers they have. Now, if I

0:17:47.040 --> 0:17:49.439
<v Speaker 3>sent out a form to one in every hundred firms

0:17:49.480 --> 0:17:51.480
<v Speaker 3>that are out there, then all I do is I

0:17:51.520 --> 0:17:53.560
<v Speaker 3>take the total number of workers and I multiply by

0:17:53.560 --> 0:17:55.160
<v Speaker 3>one hundred, and that would tell me how many jobs

0:17:55.160 --> 0:17:57.040
<v Speaker 3>they were. The problem is, we don't know if we're

0:17:57.040 --> 0:17:58.679
<v Speaker 3>sending them out to one and one hundred or one

0:17:58.680 --> 0:18:00.879
<v Speaker 3>on one hundred and one, because we don't know how

0:18:00.880 --> 0:18:03.919
<v Speaker 3>many firms there are. The reason for that is every

0:18:04.040 --> 0:18:07.439
<v Speaker 3>day businesses are dying and every day new businesses are

0:18:07.440 --> 0:18:10.800
<v Speaker 3>being born, and the government doesn't necessarily see them until

0:18:10.800 --> 0:18:13.080
<v Speaker 3>the next tax season. So we literally don't know how

0:18:13.119 --> 0:18:17.719
<v Speaker 3>many businesses there are. And so if there are fewer

0:18:17.760 --> 0:18:20.680
<v Speaker 3>small businesses being born, or if there are more old

0:18:20.720 --> 0:18:23.919
<v Speaker 3>businesses dying than we'd previously thought, and there's good reasons

0:18:23.920 --> 0:18:27.120
<v Speaker 3>to think that's the case based on other statistics than

0:18:27.160 --> 0:18:30.679
<v Speaker 3>our existing methods, which are honest, are honest, but inaccurate.

0:18:32.080 --> 0:18:36.960
<v Speaker 3>So it looked no one expects that the current pessimistic

0:18:37.040 --> 0:18:40.280
<v Speaker 3>numbers that show no job growth. Let me get rid

0:18:40.280 --> 0:18:43.280
<v Speaker 3>of the negatives, double negatives. The current numbers show no

0:18:43.400 --> 0:18:47.920
<v Speaker 3>job growth, effectively no job growth since Liberation Day. Everyone

0:18:48.000 --> 0:18:52.560
<v Speaker 3>expects that to be an overstatement, too rosy, too optimistic. Wow,

0:18:53.359 --> 0:18:55.879
<v Speaker 3>If anything, reality is worse.

0:18:56.640 --> 0:18:59.400
<v Speaker 1>So I want we're going to go to the next

0:18:59.440 --> 0:19:03.879
<v Speaker 1>question here, which is the Dow, which is not the economy,

0:19:03.960 --> 0:19:05.280
<v Speaker 1>the markets, public markets.

0:19:05.640 --> 0:19:07.359
<v Speaker 3>I just want to stick on jobs for a moment

0:19:07.359 --> 0:19:09.919
<v Speaker 3>because I think that I really do want people to

0:19:10.000 --> 0:19:12.200
<v Speaker 3>understand the job market is in a very dire strait.

0:19:12.240 --> 0:19:13.879
<v Speaker 3>So the first thing I want to say is, this

0:19:13.960 --> 0:19:18.440
<v Speaker 3>is the end of December data, and so we have

0:19:18.520 --> 0:19:18.959
<v Speaker 3>the full year.

0:19:19.000 --> 0:19:21.200
<v Speaker 2>What happened in twenty twenty five. Twenty twenty five is one.

0:19:21.119 --> 0:19:24.320
<v Speaker 3>Of the worst years outside of a recession, we've ever had.

0:19:25.560 --> 0:19:28.879
<v Speaker 3>Second fact I like, just because I think it's fun,

0:19:30.160 --> 0:19:35.879
<v Speaker 3>is since Liberation Day, Canada has produced more jobs than

0:19:35.920 --> 0:19:40.000
<v Speaker 3>the United States. Canada, who arguably will meant to be

0:19:40.040 --> 0:19:43.520
<v Speaker 3>one of the biggest losers out of trade War, Canada,

0:19:43.560 --> 0:19:45.639
<v Speaker 3>which is one tenth the size of the United States,

0:19:45.760 --> 0:19:49.240
<v Speaker 3>is producing almost twice as many jobs. So really, what's

0:19:49.280 --> 0:19:53.280
<v Speaker 3>going on is the United States economy has stopped? Why problem?

0:19:54.000 --> 0:19:55.120
<v Speaker 2>Why look around?

0:19:55.440 --> 0:19:57.760
<v Speaker 1>No, I know why the American economy has stopped, But

0:19:57.800 --> 0:20:01.040
<v Speaker 1>I want to know why Canada. So what Cana has

0:20:01.080 --> 0:20:03.280
<v Speaker 1>picked up all the slack.

0:20:03.800 --> 0:20:06.000
<v Speaker 3>No, it's not that American jobs have gone across the

0:20:06.000 --> 0:20:08.919
<v Speaker 3>boarder necessarily. It's just that the American economy has stopped

0:20:08.960 --> 0:20:10.040
<v Speaker 3>and other economies have not.

0:20:11.280 --> 0:20:14.040
<v Speaker 1>So they're picking up this slack. So if you could buy,

0:20:14.080 --> 0:20:17.600
<v Speaker 1>if you could import export with the US, and now

0:20:17.680 --> 0:20:19.879
<v Speaker 1>you can't because it's too expensive, you just go to

0:20:19.920 --> 0:20:21.040
<v Speaker 1>Canada where it's cheaper.

0:20:23.160 --> 0:20:24.680
<v Speaker 2>I'm not going to buy at that.

0:20:25.119 --> 0:20:27.159
<v Speaker 3>I just want to say, there are two economies that

0:20:27.280 --> 0:20:29.600
<v Speaker 3>happen to me, next to each other. One of them

0:20:29.600 --> 0:20:33.040
<v Speaker 3>has stopped growing and the other has not. That right

0:20:33.359 --> 0:20:36.280
<v Speaker 3>tells you something has gone wrong in the United States

0:20:36.320 --> 0:20:39.480
<v Speaker 3>that has not happened elsewhere through North America.

0:20:39.680 --> 0:20:40.560
<v Speaker 4>That's the one.

0:20:41.960 --> 0:20:44.880
<v Speaker 3>You think of. Anything that's happened in the United States

0:20:44.920 --> 0:20:46.600
<v Speaker 3>but not in other countries.

0:20:46.920 --> 0:20:49.560
<v Speaker 1>No, certainly not, and certainly not a trade war that's

0:20:49.600 --> 0:20:53.399
<v Speaker 1>good and easy to win. Even though the real number

0:20:53.400 --> 0:20:55.560
<v Speaker 1>of tariffs we know from the New York Times supporting

0:20:56.359 --> 0:20:59.080
<v Speaker 1>is the tariff numbers are actually about half what the

0:20:59.119 --> 0:21:03.879
<v Speaker 1>administration is they are, it's still enough to kill the economy.

0:21:04.240 --> 0:21:07.280
<v Speaker 3>Let's go back and explain that two ways. I want

0:21:07.320 --> 0:21:09.040
<v Speaker 3>to be clear about what the New York Times is saying,

0:21:09.080 --> 0:21:10.439
<v Speaker 3>and I want to be clear about what's going on

0:21:10.480 --> 0:21:12.520
<v Speaker 3>with the economy. I'm sorry for being a boring professor.

0:21:12.520 --> 0:21:14.560
<v Speaker 3>Every time you see something interesting, I'm like, let's slow

0:21:14.600 --> 0:21:16.640
<v Speaker 3>down and explain right now, it's.

0:21:16.480 --> 0:21:18.280
<v Speaker 2>Good, okay.

0:21:18.400 --> 0:21:23.119
<v Speaker 3>So a question I've gotten frequently is if tariff's are

0:21:23.119 --> 0:21:26.919
<v Speaker 3>so bad, why hasn't it destroyed the American economy. But

0:21:27.080 --> 0:21:30.440
<v Speaker 3>one of the things is we actually haven't had tariffs

0:21:30.880 --> 0:21:31.480
<v Speaker 3>very much.

0:21:32.000 --> 0:21:32.200
<v Speaker 2>Right.

0:21:32.280 --> 0:21:35.600
<v Speaker 3>Remember Trump was elected in January, everyone said, where's your

0:21:35.800 --> 0:21:37.399
<v Speaker 3>tariff regim and he finally got around to.

0:21:37.400 --> 0:21:38.080
<v Speaker 4>It in April.

0:21:38.240 --> 0:21:40.800
<v Speaker 3>He announced it in April and Liberation Day, and then

0:21:40.960 --> 0:21:44.320
<v Speaker 3>seven days later said, oh, just kidding, I didn't realize

0:21:44.320 --> 0:21:46.439
<v Speaker 3>that would freak global markets out. I'm now going to

0:21:46.440 --> 0:21:49.400
<v Speaker 3>take ninety days off. He then took ninety days off.

0:21:49.440 --> 0:21:53.359
<v Speaker 3>That takes you from April through to April, May, June, July,

0:21:53.720 --> 0:21:55.679
<v Speaker 3>and then he got to July and then realized he

0:21:55.720 --> 0:21:57.840
<v Speaker 3>hadn't made ninety deals in ninety days. In fact, he'd

0:21:57.840 --> 0:22:00.480
<v Speaker 3>made none, and said, well, we're going to put the

0:22:00.480 --> 0:22:03.360
<v Speaker 3>tariffs back on. But he realized in that ninety days

0:22:03.359 --> 0:22:05.800
<v Speaker 3>he'd forgotten to think about what they should be. So

0:22:05.840 --> 0:22:09.120
<v Speaker 3>he gave himself another twenty four day extension, then announced

0:22:09.160 --> 0:22:11.560
<v Speaker 3>a set of tariffs actually were remarkably similar to what

0:22:11.600 --> 0:22:15.840
<v Speaker 3>they'd been way back in April. And then his tariff

0:22:15.840 --> 0:22:17.639
<v Speaker 3>nerds said, well, we can't get that entered in the

0:22:17.640 --> 0:22:20.159
<v Speaker 3>computers quick enough. That'll take another seven days. And so

0:22:20.240 --> 0:22:22.240
<v Speaker 3>once we start to faff around, it takes to like

0:22:22.320 --> 0:22:25.919
<v Speaker 3>August or September until we get tariffs, by which point

0:22:26.000 --> 0:22:32.240
<v Speaker 3>he also starts offering exceptions. So went back, renegotiated with Canada,

0:22:32.280 --> 0:22:36.000
<v Speaker 3>and basically most trade with Canada became tariff free. He

0:22:36.080 --> 0:22:38.640
<v Speaker 3>backed down on a range of things. Remember the term taco.

0:22:38.960 --> 0:22:41.399
<v Speaker 3>And it turns out, if you're willing to bring just

0:22:41.440 --> 0:22:44.520
<v Speaker 3>the right bauble to the White House, you can whisper

0:22:44.560 --> 0:22:47.040
<v Speaker 3>and say, hey, we'd like a special exemption or exception

0:22:47.200 --> 0:22:49.520
<v Speaker 3>here there or somewhere else. And so it turns out

0:22:49.560 --> 0:22:52.440
<v Speaker 3>there's the tariff regime as announced, and there's the tariff

0:22:52.440 --> 0:22:55.359
<v Speaker 3>regime has actually implemented. So first of all, the announcements

0:22:55.359 --> 0:22:58.200
<v Speaker 3>were months ahead of the implementation. The second thing is

0:22:58.240 --> 0:23:01.120
<v Speaker 3>the announcements were big and public, and the walkbacks were

0:23:01.280 --> 0:23:03.240
<v Speaker 3>fairly private, and so it turns out the amount of

0:23:03.320 --> 0:23:05.760
<v Speaker 3>tariff revenue we've taken in is much less than you

0:23:05.760 --> 0:23:08.560
<v Speaker 3>would have expected given the bold pronouncements, which is to say,

0:23:08.600 --> 0:23:11.679
<v Speaker 3>there are now so many exceptions, loopholes riddled through the

0:23:11.720 --> 0:23:14.520
<v Speaker 3>whole darn thing that and I think there's as good news.

0:23:14.880 --> 0:23:17.359
<v Speaker 3>Trump has actually implemented fewer tariffs than you said he would.

0:23:17.480 --> 0:23:20.280
<v Speaker 3>That's the reporting from the New York Times. So we

0:23:20.320 --> 0:23:22.960
<v Speaker 3>do have tariffs, but they're not quite as bad as Trump.

0:23:22.800 --> 0:23:25.240
<v Speaker 1>And they're at a lower rate than he says they are.

0:23:25.640 --> 0:23:29.560
<v Speaker 3>Right now, let's come back, Well, if there's not huge tariffs,

0:23:29.600 --> 0:23:31.520
<v Speaker 3>what's going on with the economy? So, first of all, one,

0:23:31.800 --> 0:23:34.000
<v Speaker 3>these are still big. These are still the biggest tariffs

0:23:34.000 --> 0:23:36.760
<v Speaker 3>we've had in about eighty ninety hundred years. Second of all,

0:23:37.280 --> 0:23:39.760
<v Speaker 3>tariffs aren't the only thing. Tariff's might be the only

0:23:39.800 --> 0:23:41.520
<v Speaker 3>thing people like to talk to me about, but they're

0:23:41.520 --> 0:23:44.359
<v Speaker 3>not the whole economy. So what else is going on

0:23:44.400 --> 0:23:47.159
<v Speaker 3>in the economy? I think the first thing is a

0:23:47.240 --> 0:23:51.160
<v Speaker 3>huge crash in confidence. You look at consumer confidence, it's

0:23:51.200 --> 0:23:53.440
<v Speaker 3>never been this low. You look at the share of

0:23:53.520 --> 0:23:57.240
<v Speaker 3>Americans who judge the quality of American macroeconomic policies being poor.

0:23:57.320 --> 0:24:00.479
<v Speaker 3>It's literally never been this high right away, that's going

0:24:00.560 --> 0:24:03.159
<v Speaker 3>to cause problems. The second thing is you've got this

0:24:03.240 --> 0:24:07.639
<v Speaker 3>tremendous rise in uncertainty. Right The uncertainty is partly tariffs.

0:24:07.640 --> 0:24:09.920
<v Speaker 3>Will we get into trade war with China next weekend

0:24:10.680 --> 0:24:13.440
<v Speaker 3>probably depends on what's happening with Epstein more than anything else.

0:24:13.840 --> 0:24:16.760
<v Speaker 3>The uncertainty of those far greater than that, right. Remember

0:24:16.800 --> 0:24:19.000
<v Speaker 3>the CEO of Intel walked into the White House and

0:24:19.040 --> 0:24:21.879
<v Speaker 3>walked out having accidentally left behind ten percent of his

0:24:21.960 --> 0:24:26.160
<v Speaker 3>company that somehow got nationalized. The White House is taking

0:24:26.160 --> 0:24:29.199
<v Speaker 3>big positions in private sector companies. The White House is

0:24:29.240 --> 0:24:32.200
<v Speaker 3>calling CEOs and telling them what to do. The White

0:24:32.240 --> 0:24:35.680
<v Speaker 3>House is picking up foreign leaders and just bringing them home.

0:24:35.880 --> 0:24:39.280
<v Speaker 3>The White House is deciding their wives and their wives,

0:24:39.320 --> 0:24:42.720
<v Speaker 3>and the White House is deciding if and which states

0:24:42.840 --> 0:24:45.800
<v Speaker 3>American states that wants to invade next. All of this

0:24:46.160 --> 0:24:49.200
<v Speaker 3>it's tremendous cause of uncertainty. We're two weeks away from

0:24:49.280 --> 0:24:52.120
<v Speaker 3>a healthcare overhaul. Of course, we've been two weeks away

0:24:52.160 --> 0:24:55.160
<v Speaker 3>from a new healthcare plan now for ten years. All

0:24:55.200 --> 0:24:59.080
<v Speaker 3>of this means if you were my staff and you

0:24:59.080 --> 0:25:02.000
<v Speaker 3>came to me with a big vestment project. He said,

0:25:02.680 --> 0:25:05.399
<v Speaker 3>justin we should invest millions in this new factory. I

0:25:05.400 --> 0:25:08.919
<v Speaker 3>would say to you, hey, Molly, how much does it

0:25:08.960 --> 0:25:10.800
<v Speaker 3>cost to wait a few months and see if some

0:25:10.840 --> 0:25:14.960
<v Speaker 3>of these regulations actually pan out in ways that would

0:25:15.000 --> 0:25:17.800
<v Speaker 3>undermine my investment. I've always got the possibility of delaying,

0:25:18.480 --> 0:25:21.240
<v Speaker 3>and that's become an absolutely compelling choice now for a

0:25:21.280 --> 0:25:23.760
<v Speaker 3>lot of companies. And that's part of what's going on

0:25:23.800 --> 0:25:24.800
<v Speaker 3>with the economy too.

0:25:25.040 --> 0:25:31.440
<v Speaker 1>All important and relevant things. So let's talk through what

0:25:31.880 --> 0:25:34.680
<v Speaker 1>we are going to see now. The markets are doing

0:25:34.680 --> 0:25:38.159
<v Speaker 1>really well, and there's a set there's an understanding that

0:25:38.240 --> 0:25:41.040
<v Speaker 1>it's like a ke shaped economy that there are it's

0:25:41.080 --> 0:25:46.359
<v Speaker 1>a recovery where we're seeing tech giants make money. Maybe

0:25:46.359 --> 0:25:48.720
<v Speaker 1>it's an AI I mean, is this a bubble or

0:25:48.800 --> 0:25:51.280
<v Speaker 1>is this a part of a healthy economy? Explain to

0:25:51.320 --> 0:25:52.560
<v Speaker 1>us what is happening.

0:25:52.760 --> 0:25:55.400
<v Speaker 3>Okay, I'm going to start again once a lot of there,

0:25:55.440 --> 0:25:58.040
<v Speaker 3>so we'll go slowly. Let me start with the claim

0:25:58.240 --> 0:26:01.359
<v Speaker 3>that the stock market is doing well well. It's perhaps

0:26:01.440 --> 0:26:04.840
<v Speaker 3>the White House's most frequent economic claim. They're like every

0:26:04.880 --> 0:26:07.960
<v Speaker 3>economist out there says, our policies suck, but look what's

0:26:07.960 --> 0:26:09.800
<v Speaker 3>happening to the stock market. Now, the thing is, the

0:26:09.840 --> 0:26:13.680
<v Speaker 3>stock market reflects two things. That reflects the underlying innovation

0:26:13.840 --> 0:26:18.880
<v Speaker 3>impulses from the private sector and then possible changes caused

0:26:18.920 --> 0:26:21.000
<v Speaker 3>by the public sector. One way of figuring out what

0:26:21.560 --> 0:26:23.520
<v Speaker 3>they is going on with the private sector is to

0:26:23.520 --> 0:26:27.200
<v Speaker 3>look in other countries, because things like AI are genuinely global, right,

0:26:27.280 --> 0:26:30.239
<v Speaker 3>things like a shift in global demand genuinely global. And

0:26:30.320 --> 0:26:32.040
<v Speaker 3>so once you do that, it turns out that the

0:26:32.119 --> 0:26:35.600
<v Speaker 3>US stock market performance has actually been genuinely weak. Almost

0:26:35.600 --> 0:26:39.359
<v Speaker 3>any other industrialized country you visit has had stronger stock

0:26:39.400 --> 0:26:43.840
<v Speaker 3>market growth since Inauguration Day than the United States. We're

0:26:43.840 --> 0:26:47.639
<v Speaker 3>at the very very bottom. So that says there is

0:26:47.760 --> 0:26:52.840
<v Speaker 3>something that's driving global markets up. Whatever it is, the

0:26:53.040 --> 0:26:58.520
<v Speaker 3>US is doing worse relative to every other country. So normally,

0:26:58.520 --> 0:27:00.840
<v Speaker 3>if I were to look for, you know, what could

0:27:00.840 --> 0:27:04.480
<v Speaker 3>an administration claim credit for, I'd say, compare the US

0:27:04.520 --> 0:27:06.119
<v Speaker 3>to the rest of the world. Well, the US is

0:27:06.160 --> 0:27:08.879
<v Speaker 3>doing worse than the rest of the world. That says

0:27:08.960 --> 0:27:12.760
<v Speaker 3>markets have become relatively less optimistic about the US economy

0:27:12.840 --> 0:27:15.680
<v Speaker 3>relative to every other economy since the administration came to power.

0:27:16.680 --> 0:27:21.320
<v Speaker 3>So the claim that the stock market is says markets

0:27:21.359 --> 0:27:23.879
<v Speaker 3>believe that what the administration is doing is good. I

0:27:23.920 --> 0:27:26.960
<v Speaker 3>think is upside down and wrong. It shows the infatuation.

0:27:27.320 --> 0:27:29.920
<v Speaker 3>It shows that American business reporters know how to look

0:27:29.960 --> 0:27:31.720
<v Speaker 3>up the Dow Jones, but don't know how to look

0:27:31.800 --> 0:27:34.080
<v Speaker 3>up what's happening in the rest of the world. I

0:27:34.160 --> 0:27:36.040
<v Speaker 3>know it's weird to say that Americans can be a

0:27:36.080 --> 0:27:37.200
<v Speaker 3>little inward looking, but.

0:27:37.640 --> 0:27:38.840
<v Speaker 2>Certainly for a moment.

0:27:38.960 --> 0:27:43.760
<v Speaker 3>Yeah, so, actually, I think stocks are not voting for

0:27:43.760 --> 0:27:47.880
<v Speaker 3>the president. Second, what the hell is going on? Well,

0:27:48.200 --> 0:27:51.400
<v Speaker 3>we are in the middle of this extraordinary AI transformation,

0:27:51.640 --> 0:27:54.520
<v Speaker 3>whatever you think of it. AI is an extraordinary technology.

0:27:54.680 --> 0:27:58.199
<v Speaker 3>There's two parts to the AI story. One part is

0:27:59.000 --> 0:28:01.479
<v Speaker 3>the long run, which is many of the jobs that

0:28:01.560 --> 0:28:03.320
<v Speaker 3>many of us do, it many of the boring parts

0:28:03.359 --> 0:28:05.879
<v Speaker 3>of our jobs computers are going to be able to do.

0:28:06.000 --> 0:28:09.159
<v Speaker 3>I choose to speak about that in optimistic terms, which is,

0:28:09.200 --> 0:28:11.119
<v Speaker 3>if it takes away the boring parts of yours and

0:28:11.200 --> 0:28:13.480
<v Speaker 3>my job, my you and I get to spend more

0:28:13.520 --> 0:28:16.639
<v Speaker 3>time doing fun things. And that's been what past technological

0:28:16.680 --> 0:28:17.679
<v Speaker 3>revolutions have done.

0:28:17.760 --> 0:28:19.960
<v Speaker 2>So the structure of our labor.

0:28:19.640 --> 0:28:22.520
<v Speaker 3>Market, of our economy, of our lives, what our children

0:28:22.560 --> 0:28:24.320
<v Speaker 3>are going to grow up and do is going to.

0:28:24.240 --> 0:28:25.280
<v Speaker 2>Be fundamentally different.

0:28:25.280 --> 0:28:29.520
<v Speaker 3>But that's a statement about future decades. In order to

0:28:29.640 --> 0:28:32.120
<v Speaker 3>create that AI companies are going to have to build

0:28:32.160 --> 0:28:34.440
<v Speaker 3>out these huge data centers, which are literally just big

0:28:34.520 --> 0:28:36.560
<v Speaker 3>rooms full of computers. And so what they're doing is

0:28:36.600 --> 0:28:39.200
<v Speaker 3>they're at a race for the future, and so they're

0:28:39.200 --> 0:28:44.880
<v Speaker 3>spending trillions of dollars gajillions, eleventy kajillion dollars on these

0:28:44.960 --> 0:28:47.560
<v Speaker 3>data centers. And it turns out that that's a huge

0:28:47.600 --> 0:28:50.480
<v Speaker 3>part of what's actually growing in the US economy right now.

0:28:50.600 --> 0:28:52.400
<v Speaker 3>So then you can think about the US as been

0:28:52.480 --> 0:28:56.160
<v Speaker 3>two economic stories. There's what's going on with your AI buildout,

0:28:56.440 --> 0:28:59.320
<v Speaker 3>which is going to be short term, and there's what's

0:28:59.360 --> 0:29:01.080
<v Speaker 3>going on with the rest of the economy. Well, the

0:29:01.120 --> 0:29:03.600
<v Speaker 3>AI build out has been very strong. That has kept

0:29:03.640 --> 0:29:08.080
<v Speaker 3>stocks up around the world. It's kept the American economy growing.

0:29:08.200 --> 0:29:10.480
<v Speaker 3>The rest of the economy, though it has been very weak,

0:29:10.600 --> 0:29:13.080
<v Speaker 3>in particular the parts of the economy Trump claims to

0:29:13.080 --> 0:29:15.640
<v Speaker 3>care about, and that his policy agenda is meant to

0:29:15.760 --> 0:29:19.280
<v Speaker 3>benefit manufacturing, the goods producing sector, which is helped by

0:29:19.720 --> 0:29:21.600
<v Speaker 3>which if anyone is helped by tariffs, it would be

0:29:21.640 --> 0:29:25.000
<v Speaker 3>goods because tariffs are on goods, they're actually doing incredibly poorly.

0:29:25.320 --> 0:29:28.280
<v Speaker 3>Much of the rest of the economy is looking pretty weak.

0:29:29.200 --> 0:29:30.520
<v Speaker 3>Is that responsive, Molly.

0:29:31.040 --> 0:29:34.280
<v Speaker 1>Yes, justin Wolfer's will come back?

0:29:36.000 --> 0:29:36.800
<v Speaker 3>Yes, when of you won.

0:29:40.080 --> 0:29:44.040
<v Speaker 1>Jacob sober Off is a correspondent for NBC News and

0:29:44.480 --> 0:29:48.400
<v Speaker 1>ms NOW and the author of Firestorm, The Great Los

0:29:48.440 --> 0:29:55.720
<v Speaker 1>Angeles Fires, and America's New Age of Disaster. Welcome Too Fast, Pology.

0:29:55.720 --> 0:29:58.200
<v Speaker 4>It's Jacob sober Molly, thanks for having me back.

0:29:58.400 --> 0:30:01.000
<v Speaker 1>I'm so excited. So let's talk about this book. You

0:30:01.080 --> 0:30:04.640
<v Speaker 1>were on the ground covering those fires the minute they started.

0:30:04.960 --> 0:30:10.400
<v Speaker 1>You grew up in one of the most affected areas,

0:30:10.560 --> 0:30:13.000
<v Speaker 1>the Palastaates. Yeah, yeah, so let's talk about it.

0:30:13.160 --> 0:30:15.200
<v Speaker 5>I'll cover a lot of things in my time at

0:30:15.440 --> 0:30:19.360
<v Speaker 5>MS NOW and before that MSNBC and NBC News, but nothing,

0:30:19.440 --> 0:30:22.080
<v Speaker 5>I think, in all of my years here has ever

0:30:22.120 --> 0:30:24.880
<v Speaker 5>made me sort of stop and think I cannot understand

0:30:25.360 --> 0:30:28.560
<v Speaker 5>or comprehend what I'm witnessing in real time, as watching

0:30:28.600 --> 0:30:31.720
<v Speaker 5>my own childhood neighborhood carbonized in front of my face,

0:30:31.800 --> 0:30:34.760
<v Speaker 5>before my eyes, and in a way, I felt like,

0:30:35.280 --> 0:30:36.960
<v Speaker 5>you know, almost it was a time machine. I was

0:30:36.960 --> 0:30:39.040
<v Speaker 5>going back in time, and I could see my childhood

0:30:39.320 --> 0:30:43.120
<v Speaker 5>literally disappear as I was reporting on Primetime MSNBC on

0:30:43.160 --> 0:30:47.760
<v Speaker 5>the night of January seventh, twenty twenty five. And really,

0:30:47.800 --> 0:30:50.280
<v Speaker 5>I think now that I've spent so much time diving

0:30:50.280 --> 0:30:53.000
<v Speaker 5>deep on this is to look into the future. It

0:30:53.040 --> 0:30:55.720
<v Speaker 5>was the fire of the future, and firestorm means a

0:30:55.720 --> 0:30:58.960
<v Speaker 5>lot of things. It means the actual literal event that

0:30:59.000 --> 0:31:01.440
<v Speaker 5>I experienced, but it's all so the politics around the

0:31:01.440 --> 0:31:04.520
<v Speaker 5>moment and how that contributed to what I went through,

0:31:04.560 --> 0:31:05.680
<v Speaker 5>and so there's so.

0:31:05.680 --> 0:31:06.280
<v Speaker 2>Much it read.

0:31:06.320 --> 0:31:08.640
<v Speaker 5>The book was really like a real time, minute by

0:31:08.680 --> 0:31:11.120
<v Speaker 5>minute TikTok of what it felt like to be inside

0:31:11.120 --> 0:31:13.840
<v Speaker 5>the middle of the costliest wildfire event in American history.

0:31:13.920 --> 0:31:16.200
<v Speaker 5>But it's also an exploration of sort of the factors

0:31:16.240 --> 0:31:17.920
<v Speaker 5>that made it happen and why it's definitely going to

0:31:17.920 --> 0:31:18.440
<v Speaker 5>happen again.

0:31:18.600 --> 0:31:21.000
<v Speaker 1>When you say the fire of the future, what does

0:31:21.000 --> 0:31:24.360
<v Speaker 1>that mean? Because I think of that part of California

0:31:24.600 --> 0:31:28.480
<v Speaker 1>because of the winds, it's a different situation, So explain

0:31:28.560 --> 0:31:29.000
<v Speaker 1>what you mean.

0:31:29.160 --> 0:31:30.880
<v Speaker 5>I think that the Fire of the Future is a

0:31:30.880 --> 0:31:32.680
<v Speaker 5>lot of things, and I didn't really understand what it

0:31:32.720 --> 0:31:35.480
<v Speaker 5>was until I went to Washington actually in the fire

0:31:35.520 --> 0:31:37.640
<v Speaker 5>happened in January, and I went to Washington for the

0:31:38.000 --> 0:31:41.800
<v Speaker 5>correspondence dinner and we did this town hall on Ms.

0:31:41.800 --> 0:31:45.400
<v Speaker 5>Stephanie Rule, and I with fired federal workers. That same weekend,

0:31:45.640 --> 0:31:48.560
<v Speaker 5>I sat down with a career emergency management official that

0:31:48.600 --> 0:31:51.000
<v Speaker 5>I had met when I was covering the family separation crisis.

0:31:51.120 --> 0:31:53.280
<v Speaker 5>And he went from AJHS and tried to help the

0:31:53.360 --> 0:31:56.280
<v Speaker 5>children during that to leaving that job because of his

0:31:56.320 --> 0:31:59.800
<v Speaker 5>opposition to the policy, and went to every mass casualty

0:32:00.200 --> 0:32:03.040
<v Speaker 5>fire event over the last five years. And this guy,

0:32:03.160 --> 0:32:05.240
<v Speaker 5>Captain Jonathan White, said to me, he's the one who

0:32:05.280 --> 0:32:08.480
<v Speaker 5>said what you experienced was not some aberration. This is

0:32:08.520 --> 0:32:10.160
<v Speaker 5>the fire of the future and it's here now. And

0:32:10.200 --> 0:32:12.320
<v Speaker 5>the reason why is and he said, give me your notebook.

0:32:12.360 --> 0:32:14.960
<v Speaker 5>I was taking notes sort of a Mexican restaurant in Washington,

0:32:15.000 --> 0:32:16.840
<v Speaker 5>and he said he drew an X on the page

0:32:17.120 --> 0:32:20.240
<v Speaker 5>and he said, it is the confluence of four things.

0:32:20.400 --> 0:32:24.360
<v Speaker 5>One obviously climate change. Two our infrastructures falling apart. Three

0:32:24.520 --> 0:32:28.240
<v Speaker 5>changes in the way we live with electric car batteries exploding.

0:32:28.480 --> 0:32:31.000
<v Speaker 5>You know, these toxic substances of the past now coming out.

0:32:31.120 --> 0:32:34.520
<v Speaker 5>But for misinformation and disinformation, the amount of misinfo and

0:32:34.560 --> 0:32:38.479
<v Speaker 5>dis info that permeated literally as toxic as the fire

0:32:38.560 --> 0:32:41.840
<v Speaker 5>and the things that we're all breathing in ourself was,

0:32:42.200 --> 0:32:44.760
<v Speaker 5>if not unprecedented, I think a sign of what's to come,

0:32:44.840 --> 0:32:47.200
<v Speaker 5>particularly during this administration, which is why the book is

0:32:47.240 --> 0:32:50.560
<v Speaker 5>called Firestorm, the Great Los Angeles Fires in America's New

0:32:50.560 --> 0:32:53.320
<v Speaker 5>Age of disaster. Donald Trump was a president elect, but

0:32:53.360 --> 0:32:58.400
<v Speaker 5>it didn't stop him from interjecting, injecting himself into the

0:32:58.800 --> 0:33:01.880
<v Speaker 5>not only the recovery process, and lying about what was

0:33:01.920 --> 0:33:04.920
<v Speaker 5>going on, and picking fights with Gavin Newsom and Karen Bass,

0:33:05.160 --> 0:33:07.440
<v Speaker 5>but really in real time as the fire was unfolding.

0:33:07.680 --> 0:33:10.200
<v Speaker 5>I don't think it is an overstatement to say it

0:33:10.320 --> 0:33:14.320
<v Speaker 5>changed the way that people experience the fire itself. No politician,

0:33:14.400 --> 0:33:17.080
<v Speaker 5>Democrat or Republican has absolved for and there'll be lots

0:33:17.080 --> 0:33:18.760
<v Speaker 5>of investigative reporting how did this happen?

0:33:18.800 --> 0:33:19.640
<v Speaker 4>Why did it happen?

0:33:19.840 --> 0:33:22.120
<v Speaker 5>But the thing that makes it new and different is

0:33:22.160 --> 0:33:26.120
<v Speaker 5>the amount of politics that surrounds events like this today

0:33:26.480 --> 0:33:29.480
<v Speaker 5>and how harmful it is to the people that experienced them.

0:33:29.760 --> 0:33:33.520
<v Speaker 1>So I want to talk about that more because that

0:33:33.920 --> 0:33:39.400
<v Speaker 1>is really interesting. So the disinformation, misinformation is certainly one

0:33:39.760 --> 0:33:44.640
<v Speaker 1>element of this and the politicization of something that is

0:33:45.160 --> 0:33:47.960
<v Speaker 1>right should not be politicized one way or the other.

0:33:48.320 --> 0:33:51.360
<v Speaker 1>But the thing about this fire and why it was

0:33:51.400 --> 0:33:55.760
<v Speaker 1>so much worse than any other fire we've had, maybe ever, right,

0:33:55.880 --> 0:33:56.760
<v Speaker 1>was because it moves so.

0:33:56.800 --> 0:34:00.720
<v Speaker 4>Quickly Hurricane force wins. Yeah, I mean hurricanes.

0:34:00.920 --> 0:34:03.800
<v Speaker 5>I've covered up the natural disasters, have covered humanitarian crises

0:34:03.840 --> 0:34:05.560
<v Speaker 5>all over the world. But what this was and why

0:34:05.600 --> 0:34:07.959
<v Speaker 5>it was different was that you had hurricane force winds

0:34:08.000 --> 0:34:09.960
<v Speaker 5>coming over and it was predicted by the way. I mean,

0:34:10.000 --> 0:34:11.920
<v Speaker 5>this is a story as much as it is about

0:34:11.920 --> 0:34:14.719
<v Speaker 5>the fire and about the politicians you know, who are

0:34:14.719 --> 0:34:16.680
<v Speaker 5>involved in the fire, as it is about the workers,

0:34:16.719 --> 0:34:19.719
<v Speaker 5>the government workers who were involved, the first responders who

0:34:19.719 --> 0:34:21.360
<v Speaker 5>were involved, the people that try to stop us, and

0:34:21.400 --> 0:34:24.880
<v Speaker 5>the National Weather Service. Two guys in particular, doctor Riel

0:34:24.960 --> 0:34:27.840
<v Speaker 5>Cohen and Dave Gomberg from the National Weather Services office

0:34:27.840 --> 0:34:30.799
<v Speaker 5>in Oxnard, just west of LA predicted that these were

0:34:30.840 --> 0:34:34.000
<v Speaker 5>we're called mountain wave winds. If there was a spark

0:34:34.080 --> 0:34:36.480
<v Speaker 5>coming over the Santa Monica Mountains or the San Gabriels,

0:34:36.560 --> 0:34:40.360
<v Speaker 5>would result in catastrophic fire like we have never seen before.

0:34:40.440 --> 0:34:43.360
<v Speaker 5>And guess what, that's exactly what happened, and all it

0:34:43.400 --> 0:34:45.680
<v Speaker 5>took literally in the Palisades was you know, there are

0:34:45.680 --> 0:34:48.000
<v Speaker 5>two different approximate causes. I guess you could say of

0:34:48.000 --> 0:34:50.400
<v Speaker 5>the fire the Palisades was a holdover fire from an

0:34:50.480 --> 0:34:53.000
<v Speaker 5>arson fire seven days earlier and an Alta Dana. The

0:34:53.000 --> 0:34:57.560
<v Speaker 5>Eaton fire was faulty electrical equipment. The prevailing theory.

0:34:57.560 --> 0:34:59.440
<v Speaker 1>Is falty electrical equipment.

0:34:59.480 --> 0:35:01.840
<v Speaker 5>Where when you look at the San Gabriels, yeah, and

0:35:01.920 --> 0:35:05.560
<v Speaker 5>Eaton Canyon, there are these huge lattice steel towers that

0:35:05.800 --> 0:35:08.600
<v Speaker 5>run electrical equipment up and over the San Gabriels, and

0:35:08.840 --> 0:35:12.600
<v Speaker 5>one of them was inactive and through a process of electrification,

0:35:12.880 --> 0:35:15.799
<v Speaker 5>yet one spark, and once that spark happens, it led

0:35:15.840 --> 0:35:18.920
<v Speaker 5>to literally not only thirty one deaths between the Palisades

0:35:18.920 --> 0:35:22.600
<v Speaker 5>and Altadina, but literally thousands of homes destroyed. I always

0:35:22.640 --> 0:35:25.319
<v Speaker 5>think that these events become x ray vision, and for

0:35:25.360 --> 0:35:27.279
<v Speaker 5>me they were, especially in the aftermath of reporting this

0:35:27.280 --> 0:35:29.600
<v Speaker 5>book x ray vision about the things that are underneath

0:35:29.640 --> 0:35:32.920
<v Speaker 5>the surface of our society. And in the homeless capital

0:35:32.960 --> 0:35:35.680
<v Speaker 5>of America, more unhoused people sleeping on the street than

0:35:35.719 --> 0:35:38.880
<v Speaker 5>anywhere else. Instantly, tens of thousands of more people were

0:35:38.920 --> 0:35:41.719
<v Speaker 5>homeless forced from their homes, and we're only a year in,

0:35:42.000 --> 0:35:43.880
<v Speaker 5>but so many of them have not returned, and so

0:35:43.920 --> 0:35:46.000
<v Speaker 5>there's just so much, so much to talk about, so

0:35:46.080 --> 0:35:48.000
<v Speaker 5>much I learned at the end of the day, it's

0:35:48.000 --> 0:35:50.760
<v Speaker 5>a story about people as much as it is about politics.

0:35:50.840 --> 0:35:53.960
<v Speaker 5>And while this is a tough story, it's also a

0:35:53.960 --> 0:35:57.560
<v Speaker 5>hopeful one because I met so many people with whom

0:35:57.600 --> 0:35:59.800
<v Speaker 5>I shared, you know, the experience of I lost my

0:35:59.800 --> 0:36:02.279
<v Speaker 5>own childhood home in this fire. My brother lost the

0:36:02.280 --> 0:36:04.600
<v Speaker 5>house that he was living in, friends of mine on

0:36:04.680 --> 0:36:06.720
<v Speaker 5>both sides of town. My son had his ninth birthday

0:36:06.719 --> 0:36:09.400
<v Speaker 5>party in Altadena at a pizza place called Sidepi that

0:36:09.440 --> 0:36:12.080
<v Speaker 5>burned down in the fire. And so there's so much

0:36:12.080 --> 0:36:15.319
<v Speaker 5>that we share too. And that's why as depressing of

0:36:15.360 --> 0:36:17.239
<v Speaker 5>a year as it was, as hard as it was

0:36:17.239 --> 0:36:19.479
<v Speaker 5>for me to cover this and to spend the better

0:36:19.520 --> 0:36:21.879
<v Speaker 5>part of the last year researching how something like this could happen,

0:36:22.000 --> 0:36:25.000
<v Speaker 5>I left feeling really hopeful because of the people that

0:36:25.040 --> 0:36:27.000
<v Speaker 5>I got to meet and learn about, whether it was

0:36:27.080 --> 0:36:29.400
<v Speaker 5>JPL engineers two hundred of them lost their homes in

0:36:29.440 --> 0:36:32.319
<v Speaker 5>the fire living in Alta Dina to Caltech, or the

0:36:32.320 --> 0:36:34.920
<v Speaker 5>firefighters that did everything they could just to stop the

0:36:34.960 --> 0:36:36.239
<v Speaker 5>fire from each and every home.

0:36:36.360 --> 0:36:37.960
<v Speaker 4>That's why I love this job. That's why I love

0:36:38.000 --> 0:36:38.759
<v Speaker 4>getting to do what I do.

0:36:39.120 --> 0:36:44.040
<v Speaker 1>I want you to talk about what it's like now,

0:36:44.160 --> 0:36:49.239
<v Speaker 1>because it is environmental catastrophe. I would love you to

0:36:49.239 --> 0:36:53.640
<v Speaker 1>talk us through, like the stages of the post fire,

0:36:54.080 --> 0:36:57.160
<v Speaker 1>what the area is like now, what it looks like

0:36:57.239 --> 0:36:58.080
<v Speaker 1>it could become.

0:36:58.719 --> 0:36:59.600
<v Speaker 2>There's so much.

0:36:59.400 --> 0:37:01.960
<v Speaker 5>Work to do, and what I had hoped was that

0:37:02.520 --> 0:37:04.960
<v Speaker 5>what it would be was sort of a unifying moment.

0:37:05.200 --> 0:37:07.000
<v Speaker 5>And I can talk about all the details of the recovery,

0:37:07.040 --> 0:37:09.600
<v Speaker 5>but the reason I hoped it would be unifying as obvious.

0:37:09.800 --> 0:37:11.759
<v Speaker 5>And there was one story in particular that's in the

0:37:11.760 --> 0:37:14.560
<v Speaker 5>book that to me exemplifies how we sort of took

0:37:14.560 --> 0:37:16.840
<v Speaker 5>a wrong turn. I was standing in the Palisades on

0:37:16.880 --> 0:37:20.040
<v Speaker 5>the second morning of the fire. It was January eighth,

0:37:20.080 --> 0:37:21.440
<v Speaker 5>and I was about to go up on a special

0:37:21.440 --> 0:37:23.560
<v Speaker 5>report with Lester Holton. I looked down at my phone

0:37:23.880 --> 0:37:27.880
<v Speaker 5>and it said Katie Waldman was calling me. Katie Waldman

0:37:28.280 --> 0:37:30.120
<v Speaker 5>is now Katie Miller, which was in my phone as

0:37:30.200 --> 0:37:32.920
<v Speaker 5>Katie Waldman because I knew her during family separation as

0:37:32.920 --> 0:37:35.720
<v Speaker 5>the junior most Press deputy at the Department of Homeland Security.

0:37:35.800 --> 0:37:38.760
<v Speaker 5>She married Stephen Miller during that policy. This is Stephen

0:37:38.800 --> 0:37:40.759
<v Speaker 5>Miller's wife. And while I told her I had to

0:37:40.760 --> 0:37:41.960
<v Speaker 5>call her back because I was about to go up

0:37:42.000 --> 0:37:44.520
<v Speaker 5>on this special report, she texted me, just like so

0:37:44.560 --> 0:37:46.360
<v Speaker 5>many other people did when I was in the Palisades,

0:37:46.360 --> 0:37:48.600
<v Speaker 5>can you go check this address. You're the only person

0:37:48.680 --> 0:37:51.200
<v Speaker 5>I know who is there. And I said, what could

0:37:51.239 --> 0:37:54.919
<v Speaker 5>this possibly be about? It was Stephen Miller's parents' house.

0:37:55.239 --> 0:37:57.600
<v Speaker 5>She asked me to go by and check and see

0:37:57.640 --> 0:37:59.160
<v Speaker 5>if it was still standing. And just like I did

0:37:59.200 --> 0:38:01.920
<v Speaker 5>for the kids that i'd oaken carpool or my brother,

0:38:02.200 --> 0:38:04.000
<v Speaker 5>more other people that called, I did. I went by

0:38:04.160 --> 0:38:05.800
<v Speaker 5>and it had burned down. And I had hoped that

0:38:05.800 --> 0:38:08.040
<v Speaker 5>it was going be this moment of like Olive Branch,

0:38:08.280 --> 0:38:10.959
<v Speaker 5>that we would find common cost. And to your point

0:38:10.960 --> 0:38:13.279
<v Speaker 5>about the recovery in the aftermath, not only was she

0:38:13.360 --> 0:38:16.680
<v Speaker 5>working for Elon Musk, who was spreading misinformation about why

0:38:16.719 --> 0:38:20.120
<v Speaker 5>the water sources had run dry during the fire and

0:38:20.280 --> 0:38:23.840
<v Speaker 5>amplifying Donald Trump's conspiracy theories about the fire during the fire,

0:38:24.080 --> 0:38:27.560
<v Speaker 5>but this is an administration that has decimated so many

0:38:27.600 --> 0:38:29.840
<v Speaker 5>of the key agencies that are going to be critical

0:38:29.880 --> 0:38:33.320
<v Speaker 5>in the recovery. National Weather Service meteorologists have been fired.

0:38:33.560 --> 0:38:37.520
<v Speaker 5>Scientists and NASA's Earth Science program that study wildfires are

0:38:37.560 --> 0:38:41.520
<v Speaker 5>on the chopping block. At NIOSH National Institute for Occupational

0:38:41.560 --> 0:38:43.360
<v Speaker 5>Safety and Health. I had stood there on the corner

0:38:43.360 --> 0:38:46.040
<v Speaker 5>in Morgantown, West Virginia, talking to some of these employees

0:38:46.080 --> 0:38:47.799
<v Speaker 5>that look out for the health and well being of

0:38:47.800 --> 0:38:50.520
<v Speaker 5>firefighters and firefighters safety at a time when there were

0:38:50.520 --> 0:38:52.359
<v Speaker 5>a risk of cancer more than ever before. I had

0:38:52.360 --> 0:38:55.480
<v Speaker 5>firefighters during this fire say because of the environmental catastrophe.

0:38:55.520 --> 0:38:57.880
<v Speaker 5>I thought during the fire and certainly after that, I'm

0:38:57.920 --> 0:39:00.799
<v Speaker 5>probably going to get cancer from battling this. And that

0:39:00.920 --> 0:39:05.000
<v Speaker 5>office was decimated by this administration during the DOGE cuts,

0:39:05.200 --> 0:39:06.279
<v Speaker 5>and the list goes on and on.

0:39:06.440 --> 0:39:07.520
<v Speaker 4>That's just a partial list.

0:39:07.640 --> 0:39:09.920
<v Speaker 5>And so when you talk about the recovery, Yeah, there

0:39:09.920 --> 0:39:12.680
<v Speaker 5>are toxic substances all over as part of these fires,

0:39:12.680 --> 0:39:14.600
<v Speaker 5>and there will be more when a fire like this

0:39:14.680 --> 0:39:16.799
<v Speaker 5>happens again. The question is how do we deal with them?

0:39:16.880 --> 0:39:18.279
<v Speaker 5>You know, the answers we have to reckon with the

0:39:18.280 --> 0:39:19.880
<v Speaker 5>fact that politics is getting in the way of us

0:39:19.920 --> 0:39:20.480
<v Speaker 5>actually doing that.

0:39:21.480 --> 0:39:23.880
<v Speaker 1>Are people rebuilding or now slowly?

0:39:23.920 --> 0:39:25.120
<v Speaker 4>I went to McNally Avenue.

0:39:25.200 --> 0:39:28.400
<v Speaker 5>McNally Avenue is the street that I interviewed Gavenusam on

0:39:28.640 --> 0:39:30.800
<v Speaker 5>for me the Pressed the Saturday after the fire started.

0:39:30.840 --> 0:39:32.960
<v Speaker 5>He and I spent I think twenty minutes there talking

0:39:32.960 --> 0:39:35.480
<v Speaker 5>about what he would do, and you know, he by

0:39:35.520 --> 0:39:37.680
<v Speaker 5>the way, you know, nobody's absolved in terms of the

0:39:37.680 --> 0:39:39.840
<v Speaker 5>politics of this, about what they've been able to do

0:39:39.920 --> 0:39:41.680
<v Speaker 5>and what they've been able to accomplish. He promised a

0:39:41.760 --> 0:39:44.000
<v Speaker 5>Marshall Plan two point zero in the wake of the fire,

0:39:44.040 --> 0:39:46.239
<v Speaker 5>and there's still a really, really long way to go.

0:39:46.440 --> 0:39:49.719
<v Speaker 5>But on McNally Avenue where I met Kate Henigan, who's

0:39:49.760 --> 0:39:52.279
<v Speaker 5>a senior JPL engineer who lost her home and her

0:39:52.280 --> 0:39:55.360
<v Speaker 5>story is detailed in the fire or Herbin Lloyda Wilson,

0:39:55.560 --> 0:39:58.960
<v Speaker 5>a married couple who met at UPS and are incredible too,

0:39:59.080 --> 0:40:01.840
<v Speaker 5>incredible working class pe people, like so many people in Altadena,

0:40:02.120 --> 0:40:04.480
<v Speaker 5>that block was it looked like it was firebombd you know,

0:40:04.760 --> 0:40:07.360
<v Speaker 5>And I was just there, I think last week, checking

0:40:07.400 --> 0:40:09.160
<v Speaker 5>up on the block again. I'm going to see them

0:40:09.200 --> 0:40:11.840
<v Speaker 5>actually tomorrow, and there's one home or two homes that

0:40:11.880 --> 0:40:15.160
<v Speaker 5>are starting to be rebuilt. It's a long way from

0:40:15.280 --> 0:40:17.600
<v Speaker 5>coming back from this, and that's the case also on

0:40:17.640 --> 0:40:19.480
<v Speaker 5>the other side of the town in the Palisades, because

0:40:19.719 --> 0:40:23.680
<v Speaker 5>in addition to becoming victims of this horrible, horrible tragedy,

0:40:23.719 --> 0:40:25.839
<v Speaker 5>we live in a city that is unaffordable.

0:40:25.920 --> 0:40:28.560
<v Speaker 1>But is it safe to rebuild there? I mean, what's

0:40:28.600 --> 0:40:30.840
<v Speaker 1>the toxicity in the groundwater?

0:40:31.000 --> 0:40:33.000
<v Speaker 4>And then, yeah, it's such a good question.

0:40:33.040 --> 0:40:34.520
<v Speaker 5>The La Times has been doing and I was with

0:40:34.560 --> 0:40:37.000
<v Speaker 5>Tony Briscoe actually last night LA Times reporter who has

0:40:37.000 --> 0:40:40.879
<v Speaker 5>done some extraordinary reporting on why the federal government didn't

0:40:40.920 --> 0:40:44.439
<v Speaker 5>do soil testing for certain toxic substances the Army Corps

0:40:44.480 --> 0:40:46.920
<v Speaker 5>of Engineers. The answer is when the La Times tested

0:40:46.920 --> 0:40:48.720
<v Speaker 5>the soil, I think, he said, because the federal government

0:40:48.800 --> 0:40:51.319
<v Speaker 5>wasn't twenty percent of the homes, if I have this right,

0:40:51.640 --> 0:40:54.480
<v Speaker 5>had the toxic substances above the level of what would

0:40:54.520 --> 0:40:56.960
<v Speaker 5>be safe to rebuild. And so the onus is on

0:40:57.080 --> 0:40:59.440
<v Speaker 5>so many home owners and people to decide whether or

0:40:59.480 --> 0:41:02.120
<v Speaker 5>not they even want to come back now knowing that

0:41:02.400 --> 0:41:05.319
<v Speaker 5>this stuff, whether it's lead or asbestos, which is in

0:41:05.360 --> 0:41:08.680
<v Speaker 5>the lungs of the firefighters who battled it, but also

0:41:09.160 --> 0:41:11.839
<v Speaker 5>in the ground. According to this reporting of so many

0:41:11.880 --> 0:41:13.600
<v Speaker 5>the people who want to come back to their homes.

0:41:13.760 --> 0:41:15.200
<v Speaker 4>I mean, what would you do. I don't know what.

0:41:15.239 --> 0:41:18.240
<v Speaker 1>I would not come back. Yeah, wouldn't you not come back?

0:41:18.640 --> 0:41:19.560
<v Speaker 4>No? I don't think so.

0:41:19.719 --> 0:41:22.239
<v Speaker 5>What's the question my own brother is facing in the Palisades.

0:41:22.280 --> 0:41:24.439
<v Speaker 5>Their daughter was born in the weeks after the fire.

0:41:24.520 --> 0:41:26.759
<v Speaker 5>They're not going back to their house anytime soon. And

0:41:27.080 --> 0:41:29.640
<v Speaker 5>it's a part of the story that this firestorm, this

0:41:29.760 --> 0:41:32.000
<v Speaker 5>hurricane of fire. I have never seen anything like it,

0:41:32.040 --> 0:41:33.520
<v Speaker 5>by the way, and I describe it in detail in

0:41:33.560 --> 0:41:37.560
<v Speaker 5>the book embers flying horizontally, buildings burning horizontally, as as

0:41:37.600 --> 0:41:40.240
<v Speaker 5>the fire flies past her face with data mount arrowinds.

0:41:40.480 --> 0:41:43.239
<v Speaker 1>I mean, as as a student of Joan Didion, as

0:41:43.360 --> 0:41:48.000
<v Speaker 1>all female journalists consider themselves to base more successfully than others.

0:41:48.160 --> 0:41:52.080
<v Speaker 1>This is what she writes, you know, she writes about

0:41:52.120 --> 0:41:54.640
<v Speaker 1>this all the time. And I do wonder how much

0:41:54.680 --> 0:41:57.759
<v Speaker 1>of this, Like, obviously, environmentally we're in a lot of

0:41:57.800 --> 0:42:01.480
<v Speaker 1>trouble and the climate has changed in numerous ways. But

0:42:01.520 --> 0:42:03.480
<v Speaker 1>I just wonder how much of this more for my

0:42:03.520 --> 0:42:06.879
<v Speaker 1>own edification, Like what is California here? And what is

0:42:07.200 --> 0:42:10.000
<v Speaker 1>because the wind stuff? I don't know the say it

0:42:10.080 --> 0:42:12.279
<v Speaker 1>to Anna, I don't know that that I mean, it

0:42:12.320 --> 0:42:15.920
<v Speaker 1>may we may see changes in the jet stream that

0:42:16.000 --> 0:42:18.279
<v Speaker 1>will create that, but we don't have that.

0:42:18.440 --> 0:42:19.759
<v Speaker 4>Yeah, I think you're right.

0:42:19.800 --> 0:42:23.280
<v Speaker 5>Nobody's written more beautifully about the Santa Annas than Johan Diddyon.

0:42:23.320 --> 0:42:23.600
<v Speaker 4>Another.

0:42:23.920 --> 0:42:25.640
<v Speaker 5>I mean, I read so many books about fire as

0:42:25.640 --> 0:42:27.960
<v Speaker 5>I was sort of researching how this possibly could happen.

0:42:28.080 --> 0:42:31.360
<v Speaker 5>Mike Davis wrote The Ecology of Fear, and he famously

0:42:31.960 --> 0:42:35.359
<v Speaker 5>made the case for letting Malibu burn in the wake

0:42:35.440 --> 0:42:36.320
<v Speaker 5>of those fires.

0:42:36.680 --> 0:42:39.080
<v Speaker 4>And the thing that makes me think.

0:42:38.920 --> 0:42:42.200
<v Speaker 5>About, in addition to really how this has been a

0:42:42.200 --> 0:42:45.960
<v Speaker 5>grieving process for so many, especially me in particular, but

0:42:46.080 --> 0:42:48.000
<v Speaker 5>tens of thousands, if not millions of people who live

0:42:48.040 --> 0:42:50.799
<v Speaker 5>here and experience their city falling apart, and then, by

0:42:50.800 --> 0:42:52.680
<v Speaker 5>the way, followed by the ice rates that happened here.

0:42:52.800 --> 0:42:54.080
<v Speaker 4>And there's intersections with all of that.

0:42:54.120 --> 0:42:57.080
<v Speaker 5>The day laborers who were working to rebuild are being

0:42:57.160 --> 0:42:59.720
<v Speaker 5>targeted by the same administration as they tried to rebuild

0:42:59.719 --> 0:43:02.759
<v Speaker 5>from the fires. An undocumented worker was killed as he

0:43:02.800 --> 0:43:05.600
<v Speaker 5>was chased from home depot across the two ten Freeway

0:43:05.640 --> 0:43:08.520
<v Speaker 5>that was engulfed under an umbrella of smoke from the

0:43:08.520 --> 0:43:09.920
<v Speaker 5>flames in January.

0:43:10.200 --> 0:43:11.799
<v Speaker 4>Yeah, climate change is a big part of this.

0:43:11.960 --> 0:43:14.960
<v Speaker 5>But when I say when I talk about a proximate causes,

0:43:15.200 --> 0:43:16.160
<v Speaker 5>it's not the only one.

0:43:16.280 --> 0:43:18.360
<v Speaker 4>And if there's anything that I have taken away from.

0:43:18.239 --> 0:43:21.000
<v Speaker 5>This is that the story that is told in my

0:43:21.080 --> 0:43:23.879
<v Speaker 5>book in Firestorm is a story that in some issuer

0:43:23.880 --> 0:43:26.959
<v Speaker 5>has already happened. Look at Lahina people literally jumping into

0:43:26.960 --> 0:43:30.120
<v Speaker 5>the ocean two years prior to run away from another

0:43:30.560 --> 0:43:35.680
<v Speaker 5>urban conflagration fueled by winds just like this, and Maui exactly,

0:43:35.800 --> 0:43:39.480
<v Speaker 5>and the campfire in Paradise in northern California. At the

0:43:39.480 --> 0:43:41.800
<v Speaker 5>beginning of Newsom told me a story. I spent a

0:43:41.840 --> 0:43:43.719
<v Speaker 5>lot of time with Newsomb for this book. He told

0:43:43.719 --> 0:43:46.640
<v Speaker 5>me a story of how when he was governor elect

0:43:46.640 --> 0:43:49.000
<v Speaker 5>and Jerry Brown was governor, Trump came out to Paradise.

0:43:49.040 --> 0:43:52.440
<v Speaker 4>What did he call it, pleasure or didn't golf Paradise?

0:43:52.480 --> 0:43:53.840
<v Speaker 4>I don't remember when he called it.

0:43:54.080 --> 0:43:55.640
<v Speaker 5>And that was the first time he had seen something

0:43:55.719 --> 0:43:57.920
<v Speaker 5>like this, But since then he has gone to fires

0:43:58.320 --> 0:44:02.920
<v Speaker 5>with similar inputs. I'm at change related inputs all over California.

0:44:03.120 --> 0:44:06.319
<v Speaker 5>The difference between the LA fires and those were this

0:44:06.560 --> 0:44:10.600
<v Speaker 5>was a urban conflagration, This was a city in multiple

0:44:10.640 --> 0:44:14.120
<v Speaker 5>locations because of the winds that you describe ember cast

0:44:14.239 --> 0:44:17.279
<v Speaker 5>that went for miles and miles things for catching on fire,

0:44:17.320 --> 0:44:20.040
<v Speaker 5>miles away from the front lines of the blaze, and

0:44:20.200 --> 0:44:22.760
<v Speaker 5>that in terms of climate, in terms of the mountain

0:44:22.800 --> 0:44:25.160
<v Speaker 5>wave winds that were predicted by the National Weather Service

0:44:25.200 --> 0:44:27.640
<v Speaker 5>workers colleagues of the guys that had been fired by

0:44:27.680 --> 0:44:30.840
<v Speaker 5>this administration since then, that was the thing to me

0:44:30.960 --> 0:44:33.440
<v Speaker 5>on the ground, and as you'll read about, that was

0:44:33.440 --> 0:44:36.840
<v Speaker 5>the most the most unbelievable thing to experience physically, you know,

0:44:36.880 --> 0:44:39.319
<v Speaker 5>I could. I remember one night it was almost Stephanie Rule.

0:44:39.480 --> 0:44:40.759
<v Speaker 5>It was the first night of the fire. I could

0:44:40.800 --> 0:44:41.520
<v Speaker 5>barely stand.

0:44:41.320 --> 0:44:43.080
<v Speaker 1>Up straight right because it was so winding.

0:44:43.320 --> 0:44:44.640
<v Speaker 4>It wouldn't even feel like wind.

0:44:44.680 --> 0:44:47.040
<v Speaker 5>It felt like you were being picked up and thrown

0:44:47.080 --> 0:44:51.279
<v Speaker 5>around every direction you could imagine within seconds. And that's

0:44:51.280 --> 0:44:53.160
<v Speaker 5>why when people want to point a finger at what

0:44:53.280 --> 0:44:55.799
<v Speaker 5>happened here, I'm not so sure that there will ever

0:44:55.880 --> 0:44:58.680
<v Speaker 5>be one person to blame. There'll be plenty of investigative

0:44:58.719 --> 0:45:01.719
<v Speaker 5>reporting about like could there been more fire trucks preposition,

0:45:01.840 --> 0:45:04.120
<v Speaker 5>should Karen mass have been back from Ghana in time?

0:45:04.400 --> 0:45:05.920
<v Speaker 4>Could Kevin Usom have done anything differently?

0:45:05.960 --> 0:45:08.759
<v Speaker 5>Should the reservoir have been full in the Palisades, you know,

0:45:09.000 --> 0:45:11.080
<v Speaker 5>you name it, and then investigative reporting will go on

0:45:11.120 --> 0:45:13.239
<v Speaker 5>for years and years and years. But the reality is,

0:45:13.440 --> 0:45:16.760
<v Speaker 5>once those these guys predicted it, once the fire sparked,

0:45:17.280 --> 0:45:19.359
<v Speaker 5>there was nothing you could do to stop it. And

0:45:19.960 --> 0:45:22.600
<v Speaker 5>that's what I hope I captured well in the book,

0:45:22.880 --> 0:45:26.000
<v Speaker 5>which is that this was once the train went off

0:45:26.040 --> 0:45:28.560
<v Speaker 5>the tracks, there was no turning back. And that's where

0:45:28.560 --> 0:45:30.319
<v Speaker 5>the politics of the moment really took this to a

0:45:30.320 --> 0:45:31.239
<v Speaker 5>place that didn't need to go.

0:45:31.600 --> 0:45:34.200
<v Speaker 1>Yeah, Jacob sober Off, I hope you'll come.

0:45:34.120 --> 0:45:38.040
<v Speaker 4>Back anytime, Molly for you anything anytime. Thanks for caring

0:45:38.040 --> 0:45:38.600
<v Speaker 4>about La.

0:45:38.920 --> 0:45:41.360
<v Speaker 1>Oh yeah, we love La.

0:45:41.440 --> 0:45:42.440
<v Speaker 4>Thanks for having me on.

0:45:44.440 --> 0:45:49.120
<v Speaker 1>No moment, Jesse Canna Malli.

0:45:49.239 --> 0:45:52.359
<v Speaker 2>There is some blockbuster reporting from four h four media

0:45:52.400 --> 0:45:54.960
<v Speaker 2>who continues to kill it. And this is some of

0:45:55.000 --> 0:45:57.479
<v Speaker 2>the most disturbing report egg I've seen it a while,

0:45:57.520 --> 0:46:00.959
<v Speaker 2>which is that ICE now has a tool that uses

0:46:01.000 --> 0:46:05.200
<v Speaker 2>surveillance technology to track phones without a warrant and follow

0:46:05.320 --> 0:46:08.680
<v Speaker 2>their owner's home or to their employer. Yeah.

0:46:08.719 --> 0:46:14.000
<v Speaker 1>So this is a great example of how we don't

0:46:14.040 --> 0:46:17.200
<v Speaker 1>really know what's happening here, but ICE has billions of

0:46:17.280 --> 0:46:20.680
<v Speaker 1>dollars like billions and billions and billions of dollars. These

0:46:20.719 --> 0:46:25.600
<v Speaker 1>are these two surveillance systems called Tangle and Weblock. And

0:46:25.880 --> 0:46:29.240
<v Speaker 1>there are surveillance systems. They were purchased by ICE. ICE, remember,

0:46:29.280 --> 0:46:33.120
<v Speaker 1>has a gazillion dollars. Weblock can track phones without a

0:46:33.200 --> 0:46:37.480
<v Speaker 1>warrant and follow their owners home or to their employers. Okay,

0:46:37.719 --> 0:46:41.319
<v Speaker 1>so first of all, we really have ICE operating in

0:46:41.520 --> 0:46:45.320
<v Speaker 1>like an extra legal you know, they're operating like Donald Trump.

0:46:45.400 --> 0:46:48.120
<v Speaker 1>They just don't think the law applies to them. So

0:46:48.360 --> 0:46:51.279
<v Speaker 1>and here's this will have sort of you will have

0:46:51.400 --> 0:46:55.080
<v Speaker 1>your city, neighborhood or block will be monitored by ICE.

0:46:55.160 --> 0:46:57.640
<v Speaker 1>They can track the movement of the devices and their

0:46:57.640 --> 0:47:00.480
<v Speaker 1>owners over time, follows them from places of work to

0:47:00.560 --> 0:47:04.080
<v Speaker 1>other locations. According to the material that describes how the

0:47:04.120 --> 0:47:08.520
<v Speaker 1>system works from four four Media, it's really scary. It

0:47:08.719 --> 0:47:11.800
<v Speaker 1>is stalking. It should not be illegal. It's a huge

0:47:11.920 --> 0:47:16.239
<v Speaker 1>violation of our civil liberties. You know, maybe it's for deportation,

0:47:16.520 --> 0:47:19.839
<v Speaker 1>maybe it's for intimidation, maybe it's for any number of things.

0:47:19.840 --> 0:47:24.759
<v Speaker 1>I mean, for example, Renee Good was not a danger.

0:47:25.040 --> 0:47:27.160
<v Speaker 1>Even if she had been a danger, she should not

0:47:27.239 --> 0:47:29.640
<v Speaker 1>have been murdered. But she wasn't a danger, and she

0:47:29.920 --> 0:47:33.200
<v Speaker 1>wasn't here illegally, and she wasn't the worst of the worst.

0:47:33.320 --> 0:47:35.480
<v Speaker 1>In fact, she was an American citizen who had just

0:47:35.560 --> 0:47:37.440
<v Speaker 1>dropped out for a six year old at school. So

0:47:37.560 --> 0:47:41.040
<v Speaker 1>we know these people. They are not focused on the worst,

0:47:41.080 --> 0:47:45.040
<v Speaker 1>the worst. They're just focused on hurting people and doing

0:47:45.120 --> 0:47:50.680
<v Speaker 1>Trumpism and blaming people for getting her. And so here

0:47:50.719 --> 0:47:55.480
<v Speaker 1>we are, ladies and gentlemen, mass deportation now right, it

0:47:55.560 --> 0:47:58.319
<v Speaker 1>wasn't a vibe. It was what they were thinking. And

0:47:58.400 --> 0:48:01.960
<v Speaker 1>by the way, none of that was about deportation. Right.

0:48:01.960 --> 0:48:04.719
<v Speaker 1>It was about violence, it was about hurting people, It

0:48:04.800 --> 0:48:10.200
<v Speaker 1>was about crackdown retribution. Yeah, that's it for this episode

0:48:10.280 --> 0:48:16.360
<v Speaker 1>of Fast Politics. Tune in every Monday, Wednesday, Thursday and

0:48:16.640 --> 0:48:20.640
<v Speaker 1>Saturday to hear the best minds and politics make sense

0:48:20.680 --> 0:48:25.040
<v Speaker 1>of all this chaos. If you enjoy this podcast, please

0:48:25.040 --> 0:48:28.120
<v Speaker 1>send it to a friend and keep the conversation going.

0:48:28.560 --> 0:48:29.680
<v Speaker 1>Thanks for listening.