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Speaker 1: Hey guys, Saga and Crystal here.

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Speaker 2: Independent media just played a truly massive role in this election,

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Speaker 2: and we are so excited about what that means for

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Speaker 3: not exist anywhere else.

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Speaker 2: So if that is something that's important to you, please

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Speaker 2: go to Breakingpoints dot com. Become a member today and

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Speaker 3: We need your help to build the future of independent

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Speaker 3: news media and we hope to see you at Breakingpoints

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Speaker 3: dot com. Good morning, everybody, Happy Thursday. Have an amazing

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Speaker 3: show for everybody today.

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Speaker 1: What do we have, Crystal, Indeed we do.

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Speaker 2: We're going to take a look at that big Epstein

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Speaker 2: press conference yesterday with Thomas Massey, Rocanna, and Marjorie Taylor Green.

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Speaker 2: We want to hear from the survivors, and Rocanna is

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Speaker 2: going to join us coming in studio.

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Speaker 4: I believe, so.

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Speaker 1: I don't know.

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Speaker 2: I think he'll be here either here or remotely. In

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Speaker 2: any case, we'll have Rocana to break all of that down.

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Speaker 2: We're also taking a look at this giant Chinese military parade.

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Speaker 2: What it says about the state of the world in

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Speaker 2: our own military, where it stands in the pecking order

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Speaker 2: at this point. We've got some new signs of economic turmoil,

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Speaker 2: including some very revealing comments from the CEO of McDonald's.

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Speaker 2: New York Times reporting that the Trump administration, Trump himself

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Speaker 2: is trying to intervene directly in the New York City

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Speaker 2: mayoral race to try to clear the field for Andrew Cuomo.

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Speaker 2: Very interesting, what's happening there. Wanda vid Rojas is going

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Speaker 2: to join us to break down whether or not we

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Speaker 2: are prepping to invade Venezuela, so you definitely want to

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Speaker 2: stick around for that. And I'm taking a look at

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Speaker 2: Tim Dillon's defense of his appearance at a Saudi comedy festival.

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Speaker 2: I don't know if you guys have been following this.

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Speaker 1: It's far.

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Speaker 2: It's not just Tim Dillon, by the way, Basically every

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Speaker 2: comedian you've ever heard of is going to the Saudi

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Speaker 2: comedy festival part of their whole like whitewashing of their

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Speaker 2: image through cultural and sporting events.

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Speaker 4: So there's a lot to dig into there.

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Speaker 1: Yes, that's right.

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Speaker 3: I'm excited to listen because Tim was honest about it,

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Speaker 3: and that's I think your monologue is what culturally what

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Speaker 3: it tells us, which is important.

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Speaker 1: Yes, that's before we get to that.

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Speaker 3: Thank you everybody who has been signing up Breakingpoints dot

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Speaker 3: the AMA off without a hitch. I might say we

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Speaker 3: actually got it. And of course we have our Friday

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Speaker 3: like a month, so one took a couple of weeks,

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Speaker 3: but we did certainly do it.

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Speaker 1: Now here's the thing.

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Speaker 3: You know, we have the Friday Show, we have all

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Speaker 1: Again.

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Speaker 3: If you can't afford it, no worries, just please go

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Speaker 3: a friend. It's the most helpful thing that you could

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Speaker 3: possibly do for us. So with that, let's go ahead

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Speaker 3: and jump into the Epstein press conference, Congressman Rocanna and

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Speaker 3: Thomas Massey introducing a discharge petition in the House of

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Speaker 3: Representatives to force the government to release all of the

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Speaker 3: Epstein files. They were joined by ten Epstein's survivors who

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Speaker 3: were there at the press conference, who spoke quite poignantly

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Speaker 3: about the current cover up by the government.

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Speaker 1: Let's take a listen and.

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Speaker 5: Let me announce Now several of us Epstein survivors have

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Speaker 5: been discussing creating our own list of names.

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Speaker 6: We know the names.

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Speaker 5: Many of us were abused by them. Now, together as survivors,

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Speaker 5: we will confidentially compile the names we all know we're

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Speaker 5: regularly in the Epstein world, and it will be done

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Speaker 5: by survivors and four survivors.

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Speaker 7: Jeffrey and Glynn were always very boastful about their friends,

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Speaker 7: their famous or powerful friends, and his biggest brag forever

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Speaker 7: was that he was very good friends with Donald Trump.

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Speaker 7: He had an eight by tim framed picture of him

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Speaker 7: on his desk with the two of them like they

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Speaker 7: were very close.

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Speaker 3: So that was some of the they're going to release

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Speaker 3: their own lists. Obviously, some of the MAGA people are

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Speaker 3: upset that Trump was named there. Trump's defend and many

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Speaker 3: of the others. He's just one of many. Very true,

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Speaker 3: which is why you just released all of.

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Speaker 1: It, isn't it.

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Speaker 3: That's really why it all comes down to that. Yeah,

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Speaker 3: but it's just why it's like, oh, yeah, it didn't

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Speaker 3: have to all be a story about you, but you're

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Speaker 3: the person who created it. You whipped people up and

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Speaker 3: got people interested in the story. Promise transparency took it away,

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Speaker 3: and now it looks like, you know, at least the

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Speaker 3: appearance of by your own behavior is that it is

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Speaker 3: largely because that you, yourself were present. Easy way to

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Speaker 3: get around it is just to release everything here. Actually

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Speaker 3: was an interesting moment on MSNBC where they were asked

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Speaker 3: specifically about Trump and in particular what they knew about that.

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Speaker 1: Let's take a listen.

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Speaker 8: So can I get a show of fans who here

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Speaker 8: is satisfied with the level of contact they've had from Congress?

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Speaker 4: Nobody, let me do. Let me ask this.

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Speaker 8: How about the Justice Department? I want to ask a

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Speaker 8: couple of things about what you knew about things that

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Speaker 8: were happening with this case that you're obviously involved with.

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Speaker 8: Show of hands, did any of you hear from the

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Speaker 8: Justice Department before they released that memo, that two page

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Speaker 8: memo earlier this summer. No hands were any of you

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Speaker 8: told that Todd Blanche would be speaking with Gillay Maxwell

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Speaker 8: prior to that interview over.

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Speaker 1: The course of two days.

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Speaker 8: No, No, were any of you told about the prison

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Speaker 8: transfer that doing that to no where any of you.

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Speaker 8: Do any of you feel that the DJ has communicated

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Speaker 8: with you enough this year?

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Speaker 6: Not?

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Speaker 8: No, have any of you had any communication with the DJ. No,

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Speaker 8: nobody in this room has heard at all from the

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Speaker 8: Department of Justice.

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Speaker 6: No.

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Speaker 8: No, is that surprising to you?

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Speaker 4: No?

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Speaker 1: No.

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Speaker 3: Now, the reason I think that's important is this traces

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Speaker 3: back to the original sin. You know, within all this,

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Speaker 3: the non prosecution agreement that was agreed to with EPCE

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Speaker 3: in two thousand and seven, which violated all of their

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Speaker 3: rights because they were not informed of the sweetheart deal

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Speaker 3: that he got, which enabled him not only to continue

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Speaker 3: a lot of his behavior. Again by the admission of

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Speaker 3: the DOJ and others, a lot of the testimony, including

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Speaker 3: people have spoken out previously, but it does go to

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Speaker 3: show you how they have been sidelined really in all

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Speaker 3: of this. And I do think it's important, you know,

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Speaker 3: not to only forget all of them but then particularly

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Speaker 3: what all of the stacks upon each other for you know,

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Speaker 3: we have a system again where legally they were required

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Speaker 3: to be informed of all of that, and then they

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Speaker 3: were like, oh, that's the reason that it got voided

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Speaker 3: back in twenty eighteen and a lot of these stuff

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Speaker 3: was even allowed to come to light. And since that period,

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Speaker 3: again they've just been kind of shuttled about as pawns

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Speaker 3: within this bigger story. And this is part of what

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Speaker 3: is so you know, I think horrible about it. It's

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Speaker 3: not about Trump or about maybe it is. It's not

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Speaker 3: about one particular person. It's about them. It's about the

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Speaker 3: treatment that they suffered. And then it's about a system

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Speaker 3: of extremely powerful people, both sides business, et cetera. They

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Speaker 3: came together and it seemingly, you know, use their power, influence,

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Speaker 3: et cetera, in order to cover up a lot of

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Speaker 3: what was going on there in a way that no

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Speaker 3: reasonable person would have ever expected to be treated if

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Speaker 3: they did not have all of these sorts of connections.

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Speaker 3: Those connections themselves remain I believe the central part of

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Speaker 3: the entire story.

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Speaker 2: Yeah, your son rights is talk about the originals in there,

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Speaker 2: Because we were just talking before the show about you know,

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Speaker 2: the Palm Beach PD Originally, once they get the first

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Speaker 2: tip about this, they're pursuing this like they would any

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Speaker 2: criminal case. And obviously they're well aware that Jeffrey Epstein

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Speaker 2: is an incredibly wealthy, well connected individual. But they're trace,

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Speaker 2: they're tracking down the leads, they're going they're talking to

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Speaker 2: these girls, they talk to their families, they're compiling a

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Speaker 2: case file, and then the whole thing basically gets swept

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Speaker 2: up in the Sweetheart deal. So let's say that you

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Speaker 2: are a you know, you think that there's nothing more

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Speaker 2: to see here than basically one evil guy and Gallaine

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Speaker 2: Max while facilitating doing these horrific things, and there's no

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Speaker 2: larger conspiracy, there's no larger cover up. We also deserve

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Speaker 2: to know if rich and powerful people can just get

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Speaker 2: away with things just because they have that kind of money,

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Speaker 2: like that would also be an important piece of information

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Speaker 2: to have.

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Speaker 4: The reason.

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Speaker 2: I mean, there's obviously a lot of reasons why we're

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Speaker 2: suspicious that there are other things going on due to

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Speaker 2: the power and connections that he had do I mean,

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Speaker 2: we just had emails released between him and you know,

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Speaker 2: former Israeli Prime Minister a who Barack who's very enmeshed

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Speaker 2: in the like Israeli security defense industrial complex. So there

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Speaker 2: are many other questions there as well. But even just

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Speaker 2: to know, oh, this is how it goes for you

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Speaker 2: if you're rich and powerful.

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Speaker 4: Okay, thank you.

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Speaker 2: Good to understand that about what is going on in America,

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Speaker 2: you know, in terms, I'm curious, Sagger, for your view

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Speaker 2: on how this has played out politically and whether or

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Speaker 2: not this has ended up being a significant story for Trump,

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Speaker 2: because certainly it seems like with the MAGA base, you know,

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Speaker 2: Marjorie Taylor Green and Thomas Massey being there versus Thomas

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Speaker 2: Massey is now like brasona non grotto with magas certainly

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Speaker 2: with Trump, he's working hard to try to primary Thomas

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Speaker 2: Massey and get him removed from office, et cetera. But

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Speaker 2: it sure seems like most of the MAGA base has

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Speaker 2: moved on, that they have more or less bought his

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Speaker 2: idea that this is a Democrat hoax, that there's nothing

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Speaker 2: to see here, and you know, all of these all

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Speaker 2: these people only care about it because it has to

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Speaker 2: do with Donald Trump, and you know, they have sort

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Speaker 2: of moved on from it. I still continue to think

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Speaker 2: though that It's an important story not only because of

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Speaker 2: the substance of it, but from the political perspective. Trump

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Speaker 2: really positioned himself as this warrior against the deep state, right,

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Speaker 2: who was going to fight on your behalf, who was

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Speaker 2: going to reveal the truth.

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Speaker 4: Expose the secrets, etc.

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Speaker 2: And that image, the Epstein story was a dagger in

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Speaker 2: the heart of that particular image, and that was a

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Speaker 2: big part of his appeal with you know, I'm going

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Speaker 2: to talk about Tim Dillon in my monologue today, with

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Speaker 2: like that circle of people who felt like this was

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Speaker 2: like a renegade who was going to come in and

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Speaker 2: blow up the system.

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Speaker 3: Trump's greatest strength is that he was a blank slate

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Speaker 3: for which you could project anything that you wanted. You

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Speaker 3: could be anti war and you could project it. If

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Speaker 3: you could be pro war, you could predict pro Israel

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Speaker 3: and anti Israel. Right, these were disparate forces. Epstein I

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Speaker 3: could go on for Maha, you know, like all of

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Speaker 3: that was a project which he could subsume, he could wink,

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Speaker 3: he could not.

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Speaker 1: He was pro IVF and he was pro life.

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Speaker 3: Now, if you're following the policy and all that, you know,

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Speaker 3: some of that would start to fall apart. But in reality,

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Speaker 3: that's not how most people vote like they look at it.

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Speaker 3: And unfortunately, one of the things that about Americans is

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Speaker 3: that they actually take a lot of the words of

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Speaker 3: politicians say seriously if you look at it.

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Speaker 1: And so for the Epstein thing, it's like you just said, magabase.

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Speaker 3: Is about twenty five to thirty percent of the American public,

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Speaker 3: maybe actually less at this point, that's seventy percent. Now

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Speaker 3: Trump won the popular vote, which means, you know, at

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Speaker 3: least some fifty one percent of the people who voted

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Speaker 3: in the election, at maybe half of the people who

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Speaker 3: voted for Trump then are not so called MAGA.

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Speaker 1: So those people matter a lot.

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Speaker 3: That's why I've talked about Israel in the context of Michigan.

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Speaker 3: Are all the people voted for Trump and Michigan because

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Speaker 3: Israel absolutely not. Was it enough of a margin to

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Speaker 3: get him over there? Absolutely yes. Now the Epstein one,

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Speaker 3: I don't think anybody really voted on Epstein per se,

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Speaker 3: But we live in an anti institutional, anti elite moment.

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Speaker 1: The Epstein story resonates deeply.

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Speaker 3: And by the way, you know, if I'm in public

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Speaker 3: or anything, what's the number one thing I got asked

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Speaker 3: about Epstein?

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Speaker 1: Number one number one.

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Speaker 3: Now, I mean a lot of that is because of

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Speaker 3: the work that I do, and that's maybe it's a

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Speaker 3: little bit self selecting, but that's also usually my gauge.

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Speaker 3: I'm like, this stuff still hits like it really does

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Speaker 3: to a lot of people, and I think the reason

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Speaker 3: again is that if you're not willing to engage and

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Speaker 3: or tell the truth about what's happening with this, then

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Speaker 3: what else are you covering up?

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Speaker 1: It's like a side issue.

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Speaker 3: It's kind of like one of those symbological areas for

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Speaker 3: politics where.

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Speaker 1: If you can't tell me here, then this whole.

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Speaker 3: Apparatus just seems the whole thought gimbal bingo. And that's

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Speaker 3: why I've always thought that the story is very deeply important.

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Speaker 3: It became kind of maga coated because it was anti establishment,

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Speaker 3: but now you're the government, you are the establishment, and

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Speaker 3: so you know, it kind of flips that on its head. Trump,

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Speaker 3: by the way, not helping himself all that much in

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Speaker 3: the way that he talks about all of this in

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Speaker 3: terms of making it look like a cover up. He

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Speaker 3: continues to call it the quote democratic Epstein hoax.

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Speaker 1: Let's take a listen. He was asked about this in

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Speaker 1: the Oval Office.

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Speaker 9: He's a Justice Department protecting any friends or donors.

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Speaker 10: So this is a Democrat hoax that never ends. From

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Speaker 10: what I understand, I could check, but from what I understand,

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Speaker 10: thousands of pages of documents have been given. But it's

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Speaker 10: really a Democrat hoax because they're tried to get people

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Speaker 10: to talk about something that's totally irrelevant.

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Speaker 11: Today, he called it a hoax while these women were

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Speaker 11: speaking out and they were saying, we're not a hoax,

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Speaker 11: we're human beings. It's not a hoax because Jeffrey Epstein

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Speaker 11: is a convicted pedophile. That takes away the whole hoax things.

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Speaker 11: It's not a hoax, it's not a lie. And on

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Speaker 11: that note, Eric, every Republican should be able to sign

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Speaker 11: on to this, and that's the real hoax that they're

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Speaker 11: afraid to sign on to it because somebody who you know,

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Speaker 11: who is a real coward from one of the Trump

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Speaker 11: admin officials came out and called this a hostile act

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Speaker 11: against the Trump administration. The hostile act was Jeffrey Epstein

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Speaker 11: raping fourteen year old girls.

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Speaker 4: That was the hostile act. And it's not a hope.

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Speaker 3: Oh good for her, props to Marjorie for being able

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Speaker 3: to speak out about this. We have Congressman Rocana standing by.

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Speaker 3: He's going to break down some of the latest on

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Speaker 3: his discharge petition. Let's get to it. Joining us now

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Speaker 3: is Congressman Rocanna. He's been a leader on the release

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Speaker 3: of the Epstein files, including a press conference.

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Speaker 1: Who've just showed everybody yesterday. Thank you very much for

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Speaker 1: joining us, Sir, We appreciate it.

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Speaker 6: Thank you for having me back.

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Speaker 3: So you had that press conference yesterday, we were saying

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Speaker 3: a little bit before is very emotional. There were some

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Speaker 3: calls for any of these Epstein victims not only for

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Speaker 3: a release of the files, but also for potentially compiling

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Speaker 3: their own quote unquote list. At the same time, you've

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Speaker 3: been working with Congressman Thomas Massey for a discharge petition. Guys,

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Speaker 3: we can put a five up here on the screen.

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Speaker 3: So Congressman, can you give us any update on the

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Speaker 3: amount of signatures, and particularly Republican signatures you will need

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Speaker 3: in order to get to this to the floor and

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Speaker 3: potentially for a vote and for a release of the

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Speaker 3: Epstein files.

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Speaker 6: Well, first of all, I just hope everyone takes the

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Speaker 6: time to watch the survivors. I felt just overwhelmed with

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Speaker 6: disgust hearing them. They were in tears. They were talking

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Speaker 6: about being in junior high or in ninth grade and

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Speaker 6: being raped, and they were being talking about having to

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Speaker 6: recruit other junior high and high school friends to come

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Speaker 6: to Epstein's house to be raped. It was horrifying and

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Speaker 6: I so admire their courage. I don't understand how every

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Speaker 6: person is not supporting what they want, which is the

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Speaker 6: release of these files. And this is something that has

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Speaker 6: gone on well before Donald Trump. They've been asking for

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Speaker 6: this for years. They're finally being heard. We have a

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Speaker 6: situation where we're going to get all two hundred and

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Speaker 6: twelve House Democrats. There's one of our members who lost

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Speaker 6: his mother unportrayed, so he's going to come in in

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Speaker 6: the next few days. He will sign and one other

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Speaker 6: members signing today will have two hundred and twelve. We

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Speaker 6: have four Republicans and so we need two more signatures.

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Speaker 6: Thomas Massey and I aroren conversation with about ten potential

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Speaker 6: people who are open to signing. I'm very confident by

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Speaker 6: the end of this month we are going to get

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Speaker 6: to the two eighteen number, and then we have seven

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Speaker 6: days and then we will have a vote on the bill.

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Speaker 2: The President has really been pushing very hard to keep

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Speaker 2: Republicans from signing your discharge petition? What is your awareness

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Speaker 2: of those efforts? And you know how hard are they

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Speaker 2: whipping against this?

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Speaker 6: It's as hard as I've seen them whip against anything.

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Speaker 6: I mean, the President, from my understanding, is reaching out

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Speaker 6: to individual members. We had twelve, remember co sponsors on

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Speaker 6: our bill, and Thomas Massey and I say we probably

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Speaker 6: shouldn't have gotten the co sponsors. It was giving a

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Speaker 6: roadmap to the White Episode who to target. And that's

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Speaker 6: why we're being a little bit more vague about how

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Speaker 6: we're going to get to two eighteen. But we're very

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Speaker 6: confident we will get there. But look, Thomas Massey has

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Speaker 6: millions of dollars being spent against him from the White House,

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Speaker 6: from the billionaires, some who may be implicated in the

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Speaker 6: sty files, from a pack. I mean, he's a profile

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Speaker 6: and courage and other members see that and they say, well,

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Speaker 6: we don't want millions of dollars spent against us. So

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Speaker 6: it really takes some guts to sign. But now with

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Speaker 6: Marjorie Taylor Green, with Nancy Mace, and with Lauren Bobert signing,

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Speaker 6: and after hearing those survivors, I really do think some

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Speaker 6: other Republicans are going to do the right thing. I mean,

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Speaker 6: it was just so emotional yesterday.

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Speaker 2: Has Apax Sorry, just to pick up on what you

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Speaker 2: just said, I know Thomas Massey Apak is unhappy with

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Speaker 2: him for other reasons. Have they taken an interest in

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Speaker 2: Epstein file release as well?

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Speaker 6: To your knowledge, No, I actually make that clear. They're

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Speaker 6: going after him because he talks about human rights in Palestine.

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Speaker 6: With me, they just tweet at tweet against me, but

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Speaker 6: with him, they actually are pouring in millions of dollars

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Speaker 6: to try to defeat him.

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Speaker 3: Congressman, one of the things that happened earlier this week

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Speaker 3: is that the House Oversight Committee released bunch of quote

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Speaker 3: Epstein files. I spent hours, unfortunately going through a lot

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Speaker 3: of it. It turned out that almost nineties nine percent

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Speaker 3: of it, I believe from your commentary, was already public

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Speaker 3: So wasted several hours of my life. But that seemed

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Speaker 3: to be a cover for some Republicans to not vote

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Speaker 3: for your petition, despite the fact that again the vast

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Speaker 3: majority that's been so called release was already publicly available.

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Speaker 3: Is that how you saw that stunt by the oversight committee.

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Speaker 6: Yes, look, if you're not following this closely, and Soon says, well,

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Speaker 6: thirty three thousand documents were released they average, Perstan says,

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Speaker 6: what wore they do they want? Well, that's less than

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Speaker 6: one percent a fule of files. The parts that were

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Speaker 6: released were already public. And they're not releasing the key things,

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Speaker 6: which are the witness interviews with other men who tried

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Speaker 6: to cover up for Epstein, with other men who are

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Speaker 6: part of this farm system and abused young girls. They're

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Speaker 6: not releasing the financial records, they're not releasing the CIA

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Speaker 6: or FBI investigations. They're not releasing what the survivors are

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Speaker 6: telling us should be released. And people have to say, well,

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Speaker 6: how do we know that they're going to release something accurately? Well,

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Speaker 6: the survivors lawyers have seen these files. They know that

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Speaker 6: there's explosive information in these files, so they will be

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Speaker 6: able to corroborate when there is a release that the

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Speaker 6: information has been released. And this is what the survivors

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Speaker 6: want for closure and for justice.

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Speaker 4: That's I think that's a really important point.

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Speaker 2: What did you make the other thing they did as

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Speaker 2: they released the audio and the transcript of that Todd

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Speaker 2: Blanche interview with Gallaine Maxwell.

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Speaker 4: What did you make of that?

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Speaker 1: What?

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Speaker 6: I was embarrassing that Maxwell is lavishing praise on Donald

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Speaker 6: Trump to try to get a part in And I'd

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Speaker 6: actually really upset and angered some of the survivors. In fact,

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Speaker 6: the purpose of the Fresh conference for many of the

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Speaker 6: survivors was to get talked about the Epstein files and

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Speaker 6: the release of that. But some of them were so

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Speaker 6: outraged by Maxwell's abuse and how Maxwell is being treated

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Speaker 6: that they wanted to speak about that and did speak

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Speaker 6: about that. I mean, they were raped because of Maxwell

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Speaker 6: as girls, and now they're hearing Maxwell be treated as

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Speaker 6: some kind of victim. We're trying to get some kind

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Speaker 6: of pardon. You know, I don't think we fully understand

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Speaker 6: when we call when the President called this a hoax,

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Speaker 6: when they're talking about partnering Maxwell, the impact that has

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Speaker 6: on hundreds of survivors across the country.

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Speaker 3: Congressman, another thing I wanted to make sure that I

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Speaker 3: specified with you is I saw that there was potential

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Speaker 3: for the CIA and others to actually redact or not include,

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Speaker 3: even with your legislation, some of the potential ties and

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Speaker 3: or scrutiny on intelligence. So what you know, safeguards have

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Speaker 3: you built in and pressure can you ensure that even

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Speaker 3: if such a release does happen, that it is not

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Speaker 3: covered up. Let's say for sixty years, all what's happening

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Speaker 3: with the JFK file.

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Speaker 6: Well, it's going to be a fight for disclosure. And

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Speaker 6: I'm not saying that our bill is the panacea and

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Speaker 6: it's going to solve everything, but it's going to get

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Speaker 6: us a lot of the information, particularly where the financial

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Speaker 6: support for Epstein was coming from. Who the other powerful

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Speaker 6: Richard men were who engaged in the cover up, were

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Speaker 6: engaged in the sex trafficking. Are we going to be

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Speaker 6: able to fully understand if there were foreign ties and

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Speaker 6: who they were. That's going to be a fight. I mean,

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Speaker 6: obviously there's always they will claim national security privilege. We

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Speaker 6: will push for as much as can be released, but

442
00:20:35,119 --> 00:20:38,040
Speaker 6: the first step is to get the law pass to

443
00:20:38,240 --> 00:20:39,680
Speaker 6: call for the release of the file.

444
00:20:40,480 --> 00:20:40,920
Speaker 4: Connorson.

445
00:20:40,960 --> 00:20:43,320
Speaker 2: I've heard a lot of Democrats, you know, they're they're

446
00:20:43,320 --> 00:20:45,720
Speaker 2: signing on to the discharge petition, so we want to

447
00:20:45,760 --> 00:20:47,080
Speaker 2: we want to give them credit for that, but I've

448
00:20:47,080 --> 00:20:49,600
Speaker 2: heard them describe this issue as a quote unquote distraction.

449
00:20:50,240 --> 00:20:51,000
Speaker 4: How do you see it?

450
00:20:52,160 --> 00:20:55,320
Speaker 6: No one is saying that after yesterday. I mean, you

451
00:20:55,440 --> 00:20:57,280
Speaker 6: can't say that it's a distraction. I mean, there are

452
00:20:57,560 --> 00:21:00,480
Speaker 6: human beings who were raped as girls. And if a

453
00:21:00,560 --> 00:21:03,720
Speaker 6: nation is going to allow rich and powerful men to

454
00:21:03,920 --> 00:21:08,480
Speaker 6: assault and traffic young girls without any consequence, then it's

455
00:21:08,480 --> 00:21:11,560
Speaker 6: a nation that has lost its moral bearings. I mean,

456
00:21:12,040 --> 00:21:14,520
Speaker 6: I think this is the most fundamental issue, and you

457
00:21:14,560 --> 00:21:17,960
Speaker 6: know what, it's an issue that possibly could bring us together.

458
00:21:18,320 --> 00:21:20,600
Speaker 6: Are we still capable of coming together as a country

459
00:21:20,640 --> 00:21:23,240
Speaker 6: on anything like can't we come together as a nation

460
00:21:23,359 --> 00:21:26,520
Speaker 6: and say underage girls should be protected, our kids should

461
00:21:26,520 --> 00:21:30,280
Speaker 6: be protected. We should stand with survivors who are crying

462
00:21:30,320 --> 00:21:32,080
Speaker 6: in front of the country telling us that they were

463
00:21:32,160 --> 00:21:34,720
Speaker 6: raped as girls. You know, Marjorie Taylor Green was so

464
00:21:34,720 --> 00:21:37,919
Speaker 6: emotional afterwards, she gave me a hug. I mean, this

465
00:21:38,080 --> 00:21:41,600
Speaker 6: was not politics. It really was not. Anyone who was

466
00:21:41,640 --> 00:21:45,639
Speaker 6: there would realize that this was the most basic human issue.

467
00:21:46,200 --> 00:21:48,960
Speaker 6: And I really think that's how people should look at it.

468
00:21:49,000 --> 00:21:51,880
Speaker 6: We've gotten too in Nework being in Congress thinking oh,

469
00:21:51,920 --> 00:21:54,520
Speaker 6: what's going to have a polling advantage or a political advantage.

470
00:21:54,720 --> 00:21:58,720
Speaker 6: This is something just basic Justice.

471
00:21:58,320 --> 00:22:01,520
Speaker 3: Congressman, really appreciate the work that you are doing, and

472
00:22:01,640 --> 00:22:04,960
Speaker 3: please keep us updated on this petition, and we're really

473
00:22:05,000 --> 00:22:06,120
Speaker 3: hoping that it can go through.

474
00:22:06,200 --> 00:22:07,959
Speaker 1: Thank you for taking time and your day to join us.

475
00:22:08,320 --> 00:22:09,800
Speaker 6: Thank you, thank you for covering it.

476
00:22:12,920 --> 00:22:15,879
Speaker 3: Turning now to Beijing, where we brought everybody the news

477
00:22:15,960 --> 00:22:20,920
Speaker 3: of the Shanghai Cooper SEO meeting where Mody and Putin

478
00:22:21,119 --> 00:22:24,119
Speaker 3: and she worked together. It was a major moment for

479
00:22:24,520 --> 00:22:26,960
Speaker 3: the rise of multipolarity. But now we have to focus

480
00:22:27,000 --> 00:22:31,399
Speaker 3: in specifically on China, which had a stunning display of

481
00:22:31,640 --> 00:22:37,000
Speaker 3: military might in the capital and with Shishingping and millions

482
00:22:37,040 --> 00:22:40,359
Speaker 3: of Chinese soldiers service members all gathered in you know,

483
00:22:40,400 --> 00:22:44,439
Speaker 3: immaculate uniforms of production for the ages, which a single

484
00:22:44,520 --> 00:22:47,320
Speaker 3: message to Washington, do not mess with us.

485
00:22:47,480 --> 00:22:48,280
Speaker 1: We are one of you.

486
00:22:48,400 --> 00:22:50,280
Speaker 3: Now you have to deal with it. So we have

487
00:22:50,280 --> 00:22:52,800
Speaker 3: some video that we can show all of you. I mean,

488
00:22:53,080 --> 00:22:56,239
Speaker 3: one of the most you know, stunning things actually was

489
00:22:56,520 --> 00:22:58,520
Speaker 3: Kim Jong Un. I believe this is one of the

490
00:22:58,560 --> 00:23:01,760
Speaker 3: first like ever Internet meetings ever even taken part of

491
00:23:02,000 --> 00:23:05,760
Speaker 3: Vladimir Putin was right there next to him, basically as

492
00:23:05,800 --> 00:23:09,159
Speaker 3: I talked about the rejoining of those two countries in

493
00:23:09,200 --> 00:23:12,119
Speaker 3: the post Ukraine environment. But you can just see like

494
00:23:12,160 --> 00:23:15,880
Speaker 3: the pomp, the circumstance, the pageantry, the actually being able

495
00:23:15,920 --> 00:23:20,040
Speaker 3: to march information of all of their uniforms that were

496
00:23:20,080 --> 00:23:22,359
Speaker 3: put together. I mean, there's only one audience in the

497
00:23:22,359 --> 00:23:24,960
Speaker 3: world for all of this, It's Washington, and they're actually,

498
00:23:25,320 --> 00:23:27,720
Speaker 3: this is the scary part because what do we see here.

499
00:23:27,760 --> 00:23:31,800
Speaker 3: We have ICBMs and other missiles capable of hitting anywhere

500
00:23:31,840 --> 00:23:34,480
Speaker 3: on the globe thirty to sixty minutes. They had a

501
00:23:34,520 --> 00:23:39,120
Speaker 3: stunning display really of a lot of their new military technology.

502
00:23:39,240 --> 00:23:41,959
Speaker 3: By the way, they don't have supply chain problems, they

503
00:23:42,000 --> 00:23:45,919
Speaker 3: don't have Lockheed Martin stocks and other things that they

504
00:23:45,960 --> 00:23:46,600
Speaker 3: have to deal with.

505
00:23:46,680 --> 00:23:48,000
Speaker 1: They have got one.

506
00:23:47,960 --> 00:23:51,480
Speaker 3: Singular goal, which is America. You will not mess with us.

507
00:23:51,560 --> 00:23:53,840
Speaker 3: If we want to take over Taiwan, we'll damn well

508
00:23:53,880 --> 00:23:56,359
Speaker 3: do it. If we want to continue to fund Russia,

509
00:23:56,520 --> 00:23:58,400
Speaker 3: we will. And by the way, that's why we're starting

510
00:23:58,560 --> 00:24:01,159
Speaker 3: a new pipeline. It's not an act that Russia and

511
00:24:01,240 --> 00:24:03,560
Speaker 3: North Korea were standing there side by side.

512
00:24:03,680 --> 00:24:05,200
Speaker 1: And if anything, I think that that.

513
00:24:05,200 --> 00:24:09,720
Speaker 3: Picture with Mody with Putin at the SEO and now

514
00:24:09,760 --> 00:24:12,679
Speaker 3: with North Korea and Kim Jong un standing by the

515
00:24:12,720 --> 00:24:17,160
Speaker 3: side is a perfect symbol of the failure of US

516
00:24:17,200 --> 00:24:21,720
Speaker 3: diplomacy because at every single instance this was avoidable.

517
00:24:22,040 --> 00:24:23,359
Speaker 1: We had the Putin Summit.

518
00:24:23,520 --> 00:24:25,520
Speaker 3: We could end the war in Ukraine if you really

519
00:24:25,560 --> 00:24:29,120
Speaker 3: wanted to, you could absolutely we could restore decent relations

520
00:24:29,119 --> 00:24:32,080
Speaker 3: with Russia and find some sort of agreement Rock Proschma

521
00:24:32,240 --> 00:24:35,320
Speaker 3: or whatever with Ukraine. With North Korea, Trump met with

522
00:24:35,359 --> 00:24:37,639
Speaker 3: North Korea, he met with Kim Jong un, he shook

523
00:24:37,640 --> 00:24:39,840
Speaker 3: his hand, all sort of this developed. But the one

524
00:24:39,880 --> 00:24:42,600
Speaker 3: thing is in both times he refused to drop the

525
00:24:42,640 --> 00:24:44,800
Speaker 3: Neo Khan line. With North Korea. He's like, but you

526
00:24:44,840 --> 00:24:46,359
Speaker 3: got to give up your nukes, and they're like, no,

527
00:24:46,480 --> 00:24:47,440
Speaker 3: it will never happen.

528
00:24:47,560 --> 00:24:49,240
Speaker 1: It will quite literally never happen.

529
00:24:49,280 --> 00:24:53,040
Speaker 4: So drop it should, by the way foreign policy.

530
00:24:52,800 --> 00:24:53,520
Speaker 1: Idiots to do.

531
00:24:53,760 --> 00:24:54,080
Speaker 6: Yeah.

532
00:24:54,119 --> 00:24:57,439
Speaker 3: So they're like, no, it's not happening. With Putin, they're like,

533
00:24:57,480 --> 00:24:59,359
Speaker 3: oh you have to yeah, I don't even know what

534
00:24:59,400 --> 00:25:01,360
Speaker 3: the demand here is. Putin right is like, oh, we're

535
00:25:01,359 --> 00:25:02,720
Speaker 3: going to meet with you, but we're still going to

536
00:25:02,760 --> 00:25:05,199
Speaker 3: fund Ukraine. He's like, okay, well, I've got millions of

537
00:25:05,200 --> 00:25:07,640
Speaker 3: troops and China's got here. You know, they have my back.

538
00:25:08,000 --> 00:25:09,760
Speaker 3: India's going to keep buy my oil. So I'm just

539
00:25:09,760 --> 00:25:11,919
Speaker 3: going to keep rolling, all right, And in the meantime,

540
00:25:11,920 --> 00:25:14,560
Speaker 3: you guys can figure out whatever it is that you want,

541
00:25:14,600 --> 00:25:16,399
Speaker 3: and I'm just going to continue inch by inch. I

542
00:25:16,400 --> 00:25:18,639
Speaker 3: don't care how many soldiers of mine die in Ukraine.

543
00:25:18,640 --> 00:25:20,399
Speaker 3: In the end, I'm probably going to win. And so

544
00:25:20,760 --> 00:25:23,440
Speaker 3: that's their strategy. And the same with China. Like it's

545
00:25:23,480 --> 00:25:27,000
Speaker 3: not just tariffs. I support tariffs on China. Again, though

546
00:25:27,240 --> 00:25:29,919
Speaker 3: the level of capriciousness has made it so that g

547
00:25:30,520 --> 00:25:33,320
Speaker 3: has in the last decade been able to fully go

548
00:25:33,440 --> 00:25:36,200
Speaker 3: in on the Maiden China twenty twenty five plan. I mean,

549
00:25:36,320 --> 00:25:38,119
Speaker 3: by the way, you know, a lot of that weaponry

550
00:25:38,240 --> 00:25:40,320
Speaker 3: was distinctively part of it. If you went and read

551
00:25:40,560 --> 00:25:43,120
Speaker 3: all of the primary source documents that they're released ten

552
00:25:43,200 --> 00:25:47,000
Speaker 3: years ago, you see there the ability to compel MODI

553
00:25:47,320 --> 00:25:50,000
Speaker 3: putin North Korea. You can make fun of these states

554
00:25:50,000 --> 00:25:51,719
Speaker 3: if you want to. A lot of them are not

555
00:25:51,800 --> 00:25:54,879
Speaker 3: like economic powerhouses. But what we have learned in the

556
00:25:54,920 --> 00:25:59,320
Speaker 3: post Ukraine environment is that production, the native capacity to produce,

557
00:25:59,680 --> 00:26:02,320
Speaker 3: is the single most important thing for a nation in

558
00:26:02,359 --> 00:26:04,879
Speaker 3: a time of crisis. China has been able to marry

559
00:26:05,080 --> 00:26:09,440
Speaker 3: economic production, economic growth. They have the state managed capitalism

560
00:26:09,480 --> 00:26:12,400
Speaker 3: at the highest most efficient order, and they have now

561
00:26:12,440 --> 00:26:16,000
Speaker 3: the ability to bring all of these former US allies

562
00:26:16,080 --> 00:26:20,600
Speaker 3: and or US like states which were able to engage

563
00:26:20,640 --> 00:26:23,240
Speaker 3: with the United States go in with China and say, hey,

564
00:26:23,400 --> 00:26:25,719
Speaker 3: they're going to be a better partner to me. So,

565
00:26:25,800 --> 00:26:30,879
Speaker 3: combined with their deterrence, their weaponry, the I mean just

566
00:26:30,920 --> 00:26:34,159
Speaker 3: the sheer might of their economy, of their defense sector,

567
00:26:34,680 --> 00:26:37,800
Speaker 3: anybody in Washington who's dealing with the bullshit that we

568
00:26:37,840 --> 00:26:40,879
Speaker 3: are today should be deeply afraid. And this is scary

569
00:26:41,040 --> 00:26:43,720
Speaker 3: because as someone who's been covering this for literally a decade,

570
00:26:43,840 --> 00:26:46,320
Speaker 3: I remember reading those twenty twenty five plans. I was like, ah,

571
00:26:46,320 --> 00:26:48,960
Speaker 3: it's never gonna happen, or you know, the very Washington's

572
00:26:48,960 --> 00:26:51,160
Speaker 3: gonna wake up. The pivot to Asia is finally happening.

573
00:26:51,320 --> 00:26:54,679
Speaker 3: We're here now, We are here now, and we lost.

574
00:26:55,040 --> 00:26:57,560
Speaker 3: We have to admit it. Can we even catch up?

575
00:26:57,800 --> 00:27:00,840
Speaker 3: Maybe that's a big question mark. So it's stunning.

576
00:27:01,080 --> 00:27:02,760
Speaker 1: It really is. Ye that parade.

577
00:27:02,800 --> 00:27:06,000
Speaker 2: I think that military paraode is in intentional global wake

578
00:27:06,040 --> 00:27:08,399
Speaker 2: up call or wake up call at least here at home,

579
00:27:08,760 --> 00:27:10,880
Speaker 2: that we already live in a different world than most

580
00:27:10,920 --> 00:27:11,960
Speaker 2: Americans imagine that.

581
00:27:11,880 --> 00:27:12,280
Speaker 4: We live in.

582
00:27:12,640 --> 00:27:15,119
Speaker 2: And I was taking a look at this Foreign Policy

583
00:27:15,359 --> 00:27:20,320
Speaker 2: magazine article. The headline is China's military is now leading.

584
00:27:20,480 --> 00:27:23,880
Speaker 2: Wednesday's parade proved the regional military balance has irrevocably changed.

585
00:27:23,880 --> 00:27:25,080
Speaker 2: And I just want to read you a little bit

586
00:27:25,119 --> 00:27:27,560
Speaker 2: of this just to underscore what I'm saying here. It's

587
00:27:27,560 --> 00:27:30,480
Speaker 2: now widely accepted that the story Western countries once told

588
00:27:30,560 --> 00:27:34,280
Speaker 2: themselves about China's technological development, it's a mere imitator of

589
00:27:34,280 --> 00:27:37,200
Speaker 2: Western tech. It steals ip its success as a result

590
00:27:37,200 --> 00:27:40,520
Speaker 2: from wasteful public subsidies is inadequate. I would say that's

591
00:27:40,520 --> 00:27:43,960
Speaker 2: putting it kindly. This story still has some elements of truth,

592
00:27:44,000 --> 00:27:45,520
Speaker 2: but is much less true than it used to be.

593
00:27:45,680 --> 00:27:49,000
Speaker 2: China is today an innovator and a technological leader in robotics,

594
00:27:49,320 --> 00:27:53,880
Speaker 2: electric vehicles, nuclear reactors, solar energy drones, where they make

595
00:27:54,080 --> 00:27:57,399
Speaker 2: seventy to ninety percent of drones made in China. By

596
00:27:57,400 --> 00:28:00,919
Speaker 2: the way, guys, high speed rail and AI. If confirmation

597
00:28:01,040 --> 00:28:05,200
Speaker 2: were needed, the September third military parade through Beijing confirms

598
00:28:05,200 --> 00:28:07,680
Speaker 2: that we must add military tech to this list. It's

599
00:28:07,720 --> 00:28:10,359
Speaker 2: no longer enough to say the China's military is catching

600
00:28:10,440 --> 00:28:13,919
Speaker 2: up or there just copying foreign military equipment designs. China

601
00:28:14,040 --> 00:28:18,000
Speaker 2: is now innovating and it is leading in the process.

602
00:28:18,040 --> 00:28:20,840
Speaker 2: The regional military balance that has for decades favored the

603
00:28:21,000 --> 00:28:24,160
Speaker 2: US and its partners is being irrevocably changed.

604
00:28:24,480 --> 00:28:24,640
Speaker 4: Now.

605
00:28:24,720 --> 00:28:27,000
Speaker 2: One thing that they, of course don't have that we

606
00:28:27,080 --> 00:28:29,760
Speaker 2: do is we have this these military basis spread all

607
00:28:29,800 --> 00:28:30,439
Speaker 2: over the world.

608
00:28:30,600 --> 00:28:31,600
Speaker 4: They do not have that.

609
00:28:31,720 --> 00:28:34,800
Speaker 2: So that is a very different kind of an orientation

610
00:28:35,200 --> 00:28:38,240
Speaker 2: towards the globe. But in terms of military tech, you know,

611
00:28:38,280 --> 00:28:40,200
Speaker 2: I've been listening to to Seth Harpool we add on

612
00:28:40,240 --> 00:28:42,440
Speaker 2: this show to talk about the Fort Brag Cartel, the

613
00:28:42,440 --> 00:28:44,680
Speaker 2: book that he just wrote. He you know, studies and

614
00:28:44,720 --> 00:28:47,680
Speaker 2: follows and researches and does you know, all kinds of

615
00:28:47,760 --> 00:28:51,840
Speaker 2: incredible journalism around the state of the US military. And

616
00:28:51,880 --> 00:28:53,640
Speaker 2: he says, we're fooling ourselves if we think that we

617
00:28:53,760 --> 00:28:56,120
Speaker 2: just ran supreme And it's sun question, you know, when's

618
00:28:56,160 --> 00:28:58,520
Speaker 2: the last time we want a war? Like? Look at

619
00:28:58,520 --> 00:29:00,240
Speaker 2: how we did with the How did it go with

620
00:29:00,320 --> 00:29:02,240
Speaker 2: us in the houthis yes, right? How did it go

621
00:29:02,320 --> 00:29:04,800
Speaker 2: with us in Afghanistan? How is it going with all

622
00:29:04,840 --> 00:29:06,640
Speaker 2: of our weapons? And know how and yes, you know,

623
00:29:06,720 --> 00:29:09,840
Speaker 2: special operations, special operators on the ground in Ukraine.

624
00:29:10,000 --> 00:29:11,400
Speaker 4: How is that going right?

625
00:29:11,600 --> 00:29:14,960
Speaker 2: Even in Gaza, where it's our tax dollars funding this

626
00:29:15,120 --> 00:29:18,960
Speaker 2: horrific genocide, it's our weaponry, How is that Hamasa is

627
00:29:18,960 --> 00:29:21,680
Speaker 2: still able to operate and able to you know, to

628
00:29:21,760 --> 00:29:25,040
Speaker 2: take out IDF soldiers at times. So we're sort of

629
00:29:25,240 --> 00:29:30,440
Speaker 2: living in a delusion about our unquestioned military superiority. And

630
00:29:30,520 --> 00:29:33,200
Speaker 2: I think, you know, for anyone who's paying attention, this

631
00:29:33,440 --> 00:29:36,720
Speaker 2: parade is one symbol that should help to pop that bubble.

632
00:29:36,800 --> 00:29:37,360
Speaker 1: Absolutely.

633
00:29:37,720 --> 00:29:40,480
Speaker 3: I think I said this last the analogy I was

634
00:29:40,520 --> 00:29:42,960
Speaker 3: having dinner with somebody and it was very knowledgeable about

635
00:29:43,240 --> 00:29:46,000
Speaker 3: US defense. And the analogy was is that the United

636
00:29:46,000 --> 00:29:48,760
Speaker 3: States in the lead up to World War Two, our

637
00:29:48,840 --> 00:29:53,200
Speaker 3: technological advantage was simple production more than anything. So the

638
00:29:53,240 --> 00:29:55,920
Speaker 3: B seventeen, the B twenty nine, they were not the

639
00:29:55,920 --> 00:29:59,040
Speaker 3: world's greatest aircraft, but we could just make a shitload

640
00:29:59,080 --> 00:30:02,520
Speaker 3: of them. So the Nazis invented the V two rocket,

641
00:30:02,720 --> 00:30:04,960
Speaker 3: They invented the first jet engine, the first jet or

642
00:30:05,040 --> 00:30:08,280
Speaker 3: not the first jet aircraft that the United States actually

643
00:30:08,280 --> 00:30:10,800
Speaker 3: had to engage with above the skies of Germany. Guess

644
00:30:10,840 --> 00:30:13,320
Speaker 3: what you still won even with the technically or less

645
00:30:13,360 --> 00:30:16,480
Speaker 3: superior aircraft. Why because you could produce a ton.

646
00:30:17,160 --> 00:30:18,080
Speaker 1: There's great stories.

647
00:30:18,120 --> 00:30:20,360
Speaker 3: You know, the Japanese Zero was one of the most

648
00:30:20,360 --> 00:30:24,600
Speaker 3: sophisticated airplanes of its time, but you know, the production

649
00:30:24,840 --> 00:30:28,040
Speaker 3: after it was eventually bombed away. The Japanese would have

650
00:30:28,040 --> 00:30:30,640
Speaker 3: to like use a horse drawn cart to bring a

651
00:30:30,680 --> 00:30:35,120
Speaker 3: newly finished piece of air material to another. Now we

652
00:30:35,280 --> 00:30:38,240
Speaker 3: are the Japanese and the Germans. We have this stunning

653
00:30:38,320 --> 00:30:38,800
Speaker 3: B two.

654
00:30:39,080 --> 00:30:41,440
Speaker 1: It costs two billion dollars. We don't have the oil

655
00:30:41,680 --> 00:30:42,360
Speaker 1: to put in it.

656
00:30:42,520 --> 00:30:45,920
Speaker 3: We don't have the production facility or others to create

657
00:30:45,920 --> 00:30:48,840
Speaker 3: the ammunition that goes into the basic gun. Now, what

658
00:30:48,960 --> 00:30:51,640
Speaker 3: China has been able to do is not only match

659
00:30:51,880 --> 00:30:55,560
Speaker 3: us stunning technology, they have the entire supply chain to

660
00:30:55,640 --> 00:30:57,080
Speaker 3: deal with it if they need to. They have the

661
00:30:57,160 --> 00:31:01,080
Speaker 3: economic might and all the ability to sustain all of that. Meanwhile,

662
00:31:01,080 --> 00:31:05,280
Speaker 3: we're living in a service based, financialized, ridiculous system where

663
00:31:05,320 --> 00:31:08,440
Speaker 3: I was just telling you today FanDuel is now going

664
00:31:08,440 --> 00:31:12,240
Speaker 3: to fund public transportation so that fans can get to

665
00:31:12,240 --> 00:31:14,760
Speaker 3: an Eagles game in Philadelphia. The government can't fund it

666
00:31:14,760 --> 00:31:16,680
Speaker 3: because so FanDuel is stepping in.

667
00:31:16,720 --> 00:31:20,080
Speaker 2: Well, our reality, our military parade was funded by what

668
00:31:20,280 --> 00:31:22,720
Speaker 2: volunteer and coinbase we have.

669
00:31:22,960 --> 00:31:24,920
Speaker 3: We actually said that let's put that B two please

670
00:31:25,040 --> 00:31:27,760
Speaker 3: up on the screen. This is a symbol of you know,

671
00:31:28,040 --> 00:31:31,920
Speaker 3: we can't mark it's all yeah, look at this. Look

672
00:31:31,960 --> 00:31:34,080
Speaker 3: I I do not want to be in a position

673
00:31:34,120 --> 00:31:36,719
Speaker 3: where I'm putting down our service members, you know. And

674
00:31:36,760 --> 00:31:38,400
Speaker 3: they probably didn't have a lot of time to prepare

675
00:31:38,400 --> 00:31:41,040
Speaker 3: for this because it was shoddily and hastily put together.

676
00:31:41,120 --> 00:31:44,160
Speaker 3: The individual people in there, I have nothing but deep

677
00:31:44,200 --> 00:31:48,320
Speaker 3: love and respect for. What I have concerns about is

678
00:31:48,640 --> 00:31:52,640
Speaker 3: what is the system that places them in potentially harm's

679
00:31:52,680 --> 00:31:55,040
Speaker 3: way and has failed them, and at the same time

680
00:31:55,160 --> 00:31:58,120
Speaker 3: is raping the American taxpayer who has to spend.

681
00:31:57,840 --> 00:32:00,760
Speaker 1: A trillion dollars a year for the nonsense.

682
00:32:00,920 --> 00:32:04,080
Speaker 3: Take a look at their GDP per spending per capita

683
00:32:04,360 --> 00:32:07,240
Speaker 3: on military and then compare it to ours. That's the

684
00:32:07,280 --> 00:32:09,959
Speaker 3: most important thing. The other thing that we all need

685
00:32:10,000 --> 00:32:13,880
Speaker 3: to grapple with is that g and putin they are

686
00:32:14,040 --> 00:32:19,720
Speaker 3: megal lomaniac crazy but smart, and that we have megalomaniac

687
00:32:19,760 --> 00:32:22,920
Speaker 3: crazy but not smart. And just to show you all,

688
00:32:23,360 --> 00:32:29,720
Speaker 3: this particular clip is she and Putin chatting about how everyone,

689
00:32:29,920 --> 00:32:32,520
Speaker 3: anyone could live to one hundred and fifty with organ tram.

690
00:32:32,560 --> 00:32:34,880
Speaker 3: I mean, these guys are obsessed with transhumanism, with living

691
00:32:34,920 --> 00:32:38,000
Speaker 3: forever in the exact same way, but they may actually

692
00:32:38,000 --> 00:32:38,840
Speaker 3: be able to do it.

693
00:32:38,960 --> 00:32:39,720
Speaker 1: Let's take a listen.

694
00:32:40,040 --> 00:32:43,920
Speaker 3: In the past, people rarely lived longer than seventy years,

695
00:32:44,280 --> 00:32:47,480
Speaker 3: but today they say that at seventy you are still

696
00:32:47,520 --> 00:32:48,240
Speaker 3: a child.

697
00:32:48,400 --> 00:32:51,200
Speaker 4: Human Organs can be continuously transplanted.

698
00:32:51,560 --> 00:32:54,840
Speaker 8: The longer you live, the younger you become, and can

699
00:32:54,920 --> 00:32:56,520
Speaker 8: even achieve immortality.

700
00:32:57,000 --> 00:33:00,800
Speaker 3: So yeah, you can even achieve immortality longer you live.

701
00:33:00,880 --> 00:33:03,880
Speaker 1: This or I mean, you know, and I've talked about

702
00:33:03,920 --> 00:33:04,600
Speaker 1: this with Putin.

703
00:33:04,680 --> 00:33:08,480
Speaker 3: He's a czar she, I mean, he's the new song Emperor.

704
00:33:08,600 --> 00:33:09,600
Speaker 3: Like these guys are.

705
00:33:09,480 --> 00:33:13,200
Speaker 1: Not Communist or you know, they're like, oh, he's the

706
00:33:13,240 --> 00:33:14,400
Speaker 1: new Soviet Union.

707
00:33:14,920 --> 00:33:18,240
Speaker 3: Guys read a book like you have to go way,

708
00:33:18,560 --> 00:33:20,360
Speaker 3: way deeper. And if you look at the way that

709
00:33:20,400 --> 00:33:22,520
Speaker 3: they talk about the Chinese elites in particular, they look

710
00:33:22,520 --> 00:33:25,080
Speaker 3: at themselves as the inheritors of a twenty five hundred

711
00:33:25,120 --> 00:33:27,440
Speaker 3: year old culture. You know, they're not looking at themselves

712
00:33:27,480 --> 00:33:30,320
Speaker 3: as history began with Malza Doong. That's part of it,

713
00:33:30,360 --> 00:33:33,560
Speaker 3: but it is part of a much much broader picture.

714
00:33:33,640 --> 00:33:35,640
Speaker 3: And so you know, in a way, it's like the

715
00:33:35,680 --> 00:33:38,400
Speaker 3: old world is punching back and here.

716
00:33:38,120 --> 00:33:39,800
Speaker 1: In the US like weirdest.

717
00:33:40,800 --> 00:33:42,040
Speaker 4: This is what Yegor says to me.

718
00:33:42,160 --> 00:33:45,480
Speaker 2: He's like, you know, maybe the aberration was like, you know,

719
00:33:45,760 --> 00:33:48,960
Speaker 2: us of Western dominance in the world, that the historical

720
00:33:48,960 --> 00:33:51,480
Speaker 2: tradition is actually China being the well.

721
00:33:51,520 --> 00:33:51,840
Speaker 6: Of the world.

722
00:33:51,920 --> 00:33:52,120
Speaker 1: Yeah.

723
00:33:52,160 --> 00:33:54,640
Speaker 3: Lextreman asking that we did a podcast, He's like, well,

724
00:33:54,680 --> 00:33:57,400
Speaker 3: the American empire fall and I was like, well, statistically, yeah.

725
00:33:58,840 --> 00:34:01,320
Speaker 4: It's like asking, are we gonna one day die?

726
00:34:01,480 --> 00:34:02,800
Speaker 1: Said fight Club quote.

727
00:34:02,840 --> 00:34:04,640
Speaker 3: You know, on a long enough timeline, the survival rate

728
00:34:04,680 --> 00:34:07,240
Speaker 3: for everything drops the zero. So yeah, if you look

729
00:34:07,280 --> 00:34:09,680
Speaker 3: at the China, yeah, exactly. The aberration in China was

730
00:34:09,680 --> 00:34:11,360
Speaker 3: that during the nineteen hundreds it was weak and it

731
00:34:11,400 --> 00:34:14,800
Speaker 3: was divided. A lot of kind of was it depends.

732
00:34:14,800 --> 00:34:17,680
Speaker 3: It's complicated, but the point just broadly is that where

733
00:34:17,719 --> 00:34:22,120
Speaker 3: they see their you know, historical where they see themselves

734
00:34:22,160 --> 00:34:26,000
Speaker 3: today is on a long timeline that we cannot we

735
00:34:26,040 --> 00:34:29,800
Speaker 3: can barely conceive of in their culture and in their history.

736
00:34:29,840 --> 00:34:33,160
Speaker 1: And so this will be the single most.

737
00:34:32,880 --> 00:34:35,640
Speaker 3: Important battle for the twenty you know, for the twenty

738
00:34:35,680 --> 00:34:37,759
Speaker 3: first century. It might be a hot battle, it might

739
00:34:37,760 --> 00:34:41,120
Speaker 3: be economic, who knows, But it is the story of

740
00:34:41,160 --> 00:34:44,560
Speaker 3: our time. It really you cannot you really cannot grapple

741
00:34:44,600 --> 00:34:47,759
Speaker 3: with it unless you are actually Yeah, all the people

742
00:34:47,840 --> 00:34:51,680
Speaker 3: alive who really had to deal with psychologically the rise

743
00:34:51,719 --> 00:34:55,600
Speaker 3: of either Nazi Germany or the Kaiser Imperial Germany.

744
00:34:55,800 --> 00:34:57,080
Speaker 1: That's what it was like to live through, you.

745
00:34:57,080 --> 00:34:59,279
Speaker 3: Know, when you were the British Empire and the sun

746
00:34:59,360 --> 00:35:01,279
Speaker 3: never set upon you, and all of a sudden you

747
00:35:01,320 --> 00:35:03,920
Speaker 3: have this you know state Germany, this new state, and

748
00:35:03,960 --> 00:35:07,480
Speaker 3: they're ramping up industrial production and science, and it caused

749
00:35:07,520 --> 00:35:10,440
Speaker 3: all kinds of destabilization and nobody really knew what to

750
00:35:10,480 --> 00:35:10,680
Speaker 3: deal with.

751
00:35:10,760 --> 00:35:12,040
Speaker 1: And it ended in the First World Wars.

752
00:35:12,080 --> 00:35:15,760
Speaker 3: A catastrophe, absolute catastrophe. And I don't have any faith

753
00:35:16,000 --> 00:35:19,000
Speaker 3: that our statesmen today are smarter and able to deal

754
00:35:19,280 --> 00:35:22,120
Speaker 3: with this crisis. And the people back then were a

755
00:35:22,160 --> 00:35:23,680
Speaker 3: hell of I've read all their a lot of their

756
00:35:23,719 --> 00:35:26,640
Speaker 3: primary documents correspondence. They were a hell of a lot

757
00:35:26,680 --> 00:35:29,960
Speaker 3: smarter and thinking deeply, and they still weren't able to avoid. Yeah,

758
00:35:29,960 --> 00:35:32,080
Speaker 3: you know, some sort of horrific Uh, well.

759
00:35:32,360 --> 00:35:34,040
Speaker 2: I mean Trump is just in it for himself, like

760
00:35:34,120 --> 00:35:37,080
Speaker 2: he only cares about what he can on the state.

761
00:35:37,120 --> 00:35:40,080
Speaker 3: Because this is it's not Trump, it's Biden. I mean,

762
00:35:40,160 --> 00:35:41,120
Speaker 3: it's the system.

763
00:35:41,320 --> 00:35:41,600
Speaker 7: Sure.

764
00:35:41,760 --> 00:35:45,160
Speaker 2: But also in this moment, like Trump has accelerated, Yeah,

765
00:35:45,440 --> 00:35:48,840
Speaker 2: this is the Trump effect, Like he is accelerated becoming

766
00:35:48,920 --> 00:35:52,080
Speaker 2: together of these world leaders. And you even had some

767
00:35:52,160 --> 00:35:54,919
Speaker 2: you know, attempted reproachment between South Korea and North Korea

768
00:35:54,960 --> 00:35:56,959
Speaker 2: and the context of this, and I think it's also

769
00:35:57,000 --> 00:35:59,320
Speaker 2: important to remind because we talked about this earlier in

770
00:35:59,400 --> 00:36:01,680
Speaker 2: the week, you know the purpose of this parade in

771
00:36:01,760 --> 00:36:05,759
Speaker 2: part to recast the narrative of World War Two and

772
00:36:05,840 --> 00:36:08,120
Speaker 2: the post World War War two order, and to put

773
00:36:08,200 --> 00:36:10,719
Speaker 2: China at the center of that and China as a

774
00:36:10,800 --> 00:36:11,840
Speaker 2: leader and the.

775
00:36:11,960 --> 00:36:15,879
Speaker 4: True sort of air to the post World War two order.

776
00:36:16,239 --> 00:36:19,239
Speaker 4: So it's you know, narratively and propaganda.

777
00:36:19,480 --> 00:36:21,680
Speaker 2: From a propaganda perspective, it's interesting as well.

778
00:36:21,760 --> 00:36:24,640
Speaker 3: Oh, absolutely, it is fascinating to see them try to

779
00:36:24,640 --> 00:36:27,239
Speaker 3: reclaim the World War Two. I mean, look, I mean

780
00:36:27,360 --> 00:36:28,879
Speaker 3: I do get it in a certain way. I think

781
00:36:28,880 --> 00:36:32,080
Speaker 3: what twenty million Chinese died in the Second World War

782
00:36:32,120 --> 00:36:35,920
Speaker 3: fighting the Japanese. It wasn't all the Chinese communists. You know,

783
00:36:35,960 --> 00:36:37,640
Speaker 3: a lot of the Chinese nationalists are the ones who

784
00:36:37,680 --> 00:36:39,800
Speaker 3: died and that as well, so you know, it was

785
00:36:39,840 --> 00:36:42,400
Speaker 3: a little complicated. Sometimes they were pretty happy to let

786
00:36:42,440 --> 00:36:44,600
Speaker 3: the nationalists get killed by the Japanese if it meant

787
00:36:44,800 --> 00:36:45,560
Speaker 3: it was good for them.

788
00:36:45,600 --> 00:36:46,520
Speaker 1: It's an interesting story.

789
00:36:46,520 --> 00:36:48,720
Speaker 3: A lot of people should actually spend more time thinking

790
00:36:48,760 --> 00:36:51,160
Speaker 3: and reading about it. But the point more broadly is

791
00:36:51,200 --> 00:36:54,359
Speaker 3: that they love to flip the terms on the United

792
00:36:54,400 --> 00:36:56,719
Speaker 3: States and be like, oh, a US led ward order,

793
00:36:56,760 --> 00:36:57,239
Speaker 3: what does that.

794
00:36:57,280 --> 00:36:58,680
Speaker 1: Led to chaos Iraq?

795
00:36:58,800 --> 00:37:01,520
Speaker 3: You know, And they love to talk about zero sum

796
00:37:01,560 --> 00:37:05,200
Speaker 3: competition or mutual respect. Mutual respect in their minds means

797
00:37:05,360 --> 00:37:08,000
Speaker 3: Taiwan is ours and you can fuck off, or you know,

798
00:37:08,160 --> 00:37:12,000
Speaker 3: how Russia decides to elect its country is its own business.

799
00:37:12,040 --> 00:37:14,560
Speaker 1: If Kim Jong un has to create a famine to

800
00:37:14,640 --> 00:37:16,359
Speaker 1: create ICBMs, so be it.

801
00:37:16,960 --> 00:37:19,000
Speaker 3: And you know, in the nineties it would be very

802
00:37:19,040 --> 00:37:21,040
Speaker 3: easy to say, well, that's not who we are. Well,

803
00:37:21,080 --> 00:37:23,120
Speaker 3: you can't say that in the year twenty twenty five.

804
00:37:23,160 --> 00:37:26,600
Speaker 3: Not in the midst of Gaza, Ukraine, Libya, Syria a rock.

805
00:37:27,120 --> 00:37:29,120
Speaker 2: How are we going to stand on some like territorial

806
00:37:29,160 --> 00:37:32,239
Speaker 2: integrity principle. We're funding a genericide INASA now that it

807
00:37:32,280 --> 00:37:34,400
Speaker 2: would be insane to go to work sign over Taiwan.

808
00:37:34,480 --> 00:37:37,440
Speaker 3: Our Secretary of State is on his way over to

809
00:37:37,880 --> 00:37:40,960
Speaker 3: Israel apparently, or I guess I should say whatever what

810
00:37:41,000 --> 00:37:43,200
Speaker 3: they claim to be Israel. Apparently he's going to participate

811
00:37:43,280 --> 00:37:46,360
Speaker 3: in a cellar event, you know, in yeah, exactly, and

812
00:37:46,520 --> 00:37:48,880
Speaker 3: the Secretary of State of the United States of America.

813
00:37:49,040 --> 00:37:52,120
Speaker 3: So really we're going to fund Ukraine to protect their

814
00:37:52,200 --> 00:37:55,520
Speaker 3: territorial integrity. Okay, I mean you know, it's like, oh,

815
00:37:55,520 --> 00:37:57,680
Speaker 3: and we have a problem with monarch, we have a

816
00:37:57,680 --> 00:37:58,799
Speaker 3: problem with dictators.

817
00:37:59,040 --> 00:38:00,800
Speaker 1: Really, that's not who we buy are oil from.

818
00:38:00,760 --> 00:38:00,960
Speaker 10: Is it.

819
00:38:01,040 --> 00:38:04,279
Speaker 3: Oh wait, so it all falls apart on a very

820
00:38:04,320 --> 00:38:07,120
Speaker 3: basic scrutiny. Let's go ahead and get then to Trump,

821
00:38:07,120 --> 00:38:08,359
Speaker 3: which we've been building up here.

822
00:38:08,480 --> 00:38:10,000
Speaker 1: Who is you know?

823
00:38:10,360 --> 00:38:12,600
Speaker 3: He kind of admitted the quiet part out loud. He's like,

824
00:38:12,600 --> 00:38:14,480
Speaker 3: they were doing it because they wanted me to watch,

825
00:38:14,560 --> 00:38:15,320
Speaker 3: and I was watching.

826
00:38:15,440 --> 00:38:16,160
Speaker 1: Let's take a listen.

827
00:38:16,680 --> 00:38:18,960
Speaker 9: I put out a truth last night.

828
00:38:19,040 --> 00:38:21,719
Speaker 10: You saw that, and I was the one that brought

829
00:38:21,760 --> 00:38:24,600
Speaker 10: it up. I said, they're only doing this, They're really

830
00:38:24,600 --> 00:38:28,319
Speaker 10: they're looking to when they did what they did.

831
00:38:28,360 --> 00:38:30,160
Speaker 9: I thought it was a beautiful ceremony. I thought it

832
00:38:30,200 --> 00:38:33,359
Speaker 9: was very, very impressive. But I understood the reason they

833
00:38:33,360 --> 00:38:35,520
Speaker 9: were doing it. And they were hoping. I was watching,

834
00:38:35,560 --> 00:38:39,200
Speaker 9: and I was watching. My relationship with all of them

835
00:38:39,280 --> 00:38:41,279
Speaker 9: is very good. We're going to find out how good

836
00:38:41,320 --> 00:38:42,719
Speaker 9: it is over the next week or two.

837
00:38:43,160 --> 00:38:45,520
Speaker 1: They were hoping. I was watching and I was watching.

838
00:38:45,760 --> 00:38:48,120
Speaker 3: He told them in a truth that he was like,

839
00:38:48,200 --> 00:38:51,400
Speaker 3: they all conspire against the United States.

840
00:38:51,400 --> 00:38:52,680
Speaker 1: Well what are you going to do about it?

841
00:38:52,719 --> 00:38:55,879
Speaker 3: You know, and not just wave, you know, like wave

842
00:38:55,960 --> 00:38:59,560
Speaker 3: around until putin big things are coming, Like what like

843
00:38:59,640 --> 00:39:02,160
Speaker 3: what exactly what do you have left? What cards do

844
00:39:02,200 --> 00:39:04,160
Speaker 3: you have left to play? You want to know who

845
00:39:04,280 --> 00:39:05,000
Speaker 3: China's cards.

846
00:39:05,080 --> 00:39:05,960
Speaker 1: Let's go and show everybody.

847
00:39:06,000 --> 00:39:08,000
Speaker 3: Let's put this up there on the screen, all the

848
00:39:08,000 --> 00:39:11,799
Speaker 3: military parade, all the military equipment that they were debuted.

849
00:39:12,360 --> 00:39:13,280
Speaker 1: You know, it's stunning.

850
00:39:13,360 --> 00:39:18,840
Speaker 3: Hypersonic missiles, combat vehicles, unmanned aircraft, undersea drones, nuclear missiles

851
00:39:18,840 --> 00:39:21,120
Speaker 3: capable of hitting anywhere on the globe.

852
00:39:21,239 --> 00:39:25,120
Speaker 1: I mean, this was a massive shot at the Pentagon.

853
00:39:25,320 --> 00:39:29,960
Speaker 3: This is all has production lines capacity that does not

854
00:39:30,000 --> 00:39:32,080
Speaker 3: rely on us. Does anyone want to know who we

855
00:39:32,120 --> 00:39:34,080
Speaker 3: rely on for some of our military equipment.

856
00:39:34,160 --> 00:39:36,680
Speaker 1: Right, it's called China. It seems smart, really works out.

857
00:39:36,920 --> 00:39:39,640
Speaker 3: And the more that you look into all of their

858
00:39:39,800 --> 00:39:43,279
Speaker 3: capacity and their show, it's like you said, they not

859
00:39:43,320 --> 00:39:45,359
Speaker 3: only have the ability to spend less because they don't

860
00:39:45,360 --> 00:39:48,280
Speaker 3: have some great geopolitical projection. By the way, Trump yesterday

861
00:39:48,320 --> 00:39:50,160
Speaker 3: was like, yeah, we'll send more troops to Poland. I

862
00:39:50,200 --> 00:39:52,480
Speaker 3: was like, oh, really, why, you know, for what reason?

863
00:39:53,680 --> 00:39:56,319
Speaker 3: Why why do we need troops in Poland and all

864
00:39:56,360 --> 00:40:00,440
Speaker 3: over the Baltics, in Germany and Korea and Japan, And

865
00:40:00,640 --> 00:40:01,920
Speaker 3: I mean, I could go on forever.

866
00:40:02,000 --> 00:40:04,319
Speaker 1: Some of those makes sense. Japan, Korea, et cetera.

867
00:40:04,520 --> 00:40:07,240
Speaker 3: Germany why, I mean again, it's one of those where

868
00:40:07,520 --> 00:40:11,719
Speaker 3: nobody asked basic questions. Keep cutting these checks to the Pentagon,

869
00:40:12,040 --> 00:40:14,920
Speaker 3: and that's what it looks like when you're actually intelligent

870
00:40:15,120 --> 00:40:17,319
Speaker 3: and you think deeply about what this is all going

871
00:40:17,400 --> 00:40:20,160
Speaker 3: to look like and potentially should look like in the future,

872
00:40:20,280 --> 00:40:22,279
Speaker 3: should anything happen. The last thing we wanted to mention

873
00:40:22,640 --> 00:40:24,960
Speaker 3: was about Korea because this was actually very interesting. Let's

874
00:40:24,960 --> 00:40:27,080
Speaker 3: going to put this last part up on the screen. Obviously,

875
00:40:27,200 --> 00:40:29,120
Speaker 3: Korea one of the top ten trading partners of the

876
00:40:29,200 --> 00:40:31,719
Speaker 3: United States, one of the most important US allies in

877
00:40:31,760 --> 00:40:36,040
Speaker 3: all of Southeast Asia actually sent their speaker in parliament

878
00:40:36,080 --> 00:40:38,840
Speaker 3: to shake hands with Kim Jong un at the Beijing

879
00:40:38,880 --> 00:40:39,920
Speaker 3: military parade.

880
00:40:40,000 --> 00:40:41,080
Speaker 1: Now why is that important?

881
00:40:41,120 --> 00:40:43,640
Speaker 3: Well, it used to be in the first Trump administration

882
00:40:43,800 --> 00:40:45,759
Speaker 3: that the United States was the one who was trying

883
00:40:45,800 --> 00:40:48,480
Speaker 3: to broker some sort of peace and or you know,

884
00:40:48,560 --> 00:40:50,920
Speaker 3: rock proch mood between the South and the North. But

885
00:40:51,000 --> 00:40:54,080
Speaker 3: now the Koreans, who you know, look not exactly in

886
00:40:54,120 --> 00:40:58,240
Speaker 3: love with China, are sending delegations to the Beijing military parade.

887
00:40:58,360 --> 00:41:01,839
Speaker 3: And basically a method a word to Washington is you

888
00:41:01,880 --> 00:41:03,839
Speaker 3: treat us like shit. They don't treat us so bad

889
00:41:03,880 --> 00:41:06,160
Speaker 3: over here, even though we have all of our differences,

890
00:41:06,239 --> 00:41:08,600
Speaker 3: and they're willing to shake hands with Kim Jong un

891
00:41:08,640 --> 00:41:11,720
Speaker 3: and potentially broke some sort of piece via China. Without

892
00:41:11,719 --> 00:41:14,240
Speaker 3: the United States, it would be a disaster. So everybody

893
00:41:14,360 --> 00:41:16,640
Speaker 3: keep their eye on this. I know can seem tedious

894
00:41:16,680 --> 00:41:18,759
Speaker 3: and more, but I mean it really is. Like it's

895
00:41:18,800 --> 00:41:22,000
Speaker 3: like the nineteen thirties or the early nineteen hundreds all

896
00:41:22,040 --> 00:41:25,719
Speaker 3: over again, Like the entire world order is being rewritten

897
00:41:25,760 --> 00:41:28,480
Speaker 3: before our eyes. It's not that hard actually to figure

898
00:41:28,480 --> 00:41:30,560
Speaker 3: out what's hard to figure out is how to avoid

899
00:41:30,840 --> 00:41:34,200
Speaker 3: what usually happens when something like this does seem like

900
00:41:34,200 --> 00:41:36,200
Speaker 3: it's on the horizon. The last thing I wanted to

901
00:41:36,239 --> 00:41:41,239
Speaker 3: mention was this story, which again Chaulle's challenges dollar supremacy.

902
00:41:41,400 --> 00:41:43,560
Speaker 3: Can we go ahead and put a B seven please,

903
00:41:43,840 --> 00:41:47,440
Speaker 3: which is developing countries have been swapping out of dollar

904
00:41:47,480 --> 00:41:50,800
Speaker 3: debt to cut their borrowing costs. They say that sovereign

905
00:41:50,840 --> 00:41:54,680
Speaker 3: borrowers are now turning to lower interest rate currencies such

906
00:41:54,719 --> 00:41:58,000
Speaker 3: as the Chinese rembe and or the Swiss fronc to

907
00:41:58,160 --> 00:42:01,600
Speaker 3: get around the fluxus and the interest rates of the

908
00:42:01,680 --> 00:42:05,680
Speaker 3: dollar set by the Federal Reserve. So just another little

909
00:42:05,719 --> 00:42:08,840
Speaker 3: thing that we can look at, just broadly about all

910
00:42:08,880 --> 00:42:09,839
Speaker 3: of the signs.

911
00:42:09,520 --> 00:42:11,120
Speaker 1: Of where things are going. I'm not a bricks person.

912
00:42:11,120 --> 00:42:14,160
Speaker 3: I'm not saying it's all happening, you know, tomorrow and

913
00:42:14,239 --> 00:42:15,840
Speaker 3: the end of the US empire.

914
00:42:15,920 --> 00:42:17,160
Speaker 1: That's not how it works.

915
00:42:17,440 --> 00:42:21,080
Speaker 3: The point is is that sometimes it takes decades and

916
00:42:21,239 --> 00:42:23,960
Speaker 3: the initial signs, though, if you're smart enough, you can

917
00:42:24,000 --> 00:42:26,080
Speaker 3: see that they start to rhyme with a lot of problems.

918
00:42:26,120 --> 00:42:28,560
Speaker 3: Which is probably a good segue to our economy block,

919
00:42:28,680 --> 00:42:31,680
Speaker 3: which is about how we have troubling signs in our

920
00:42:31,680 --> 00:42:34,560
Speaker 3: economy and a lot is fake. So let's get to it,

921
00:42:37,400 --> 00:42:40,520
Speaker 3: turning down to the economy, as we said, into where

922
00:42:40,560 --> 00:42:43,720
Speaker 3: we can actually look to some truth. Unfortunately, it comes

923
00:42:43,719 --> 00:42:47,960
Speaker 3: from the CEO of McDonald's who shockingly actually dropped some

924
00:42:48,040 --> 00:42:51,239
Speaker 3: truth bombs on CNBC about how divided the country is

925
00:42:51,280 --> 00:42:53,319
Speaker 3: on whether you make over one hundred thousand dollars or not.

926
00:42:53,600 --> 00:42:54,400
Speaker 1: Let's take a listen.

927
00:42:54,719 --> 00:42:57,960
Speaker 12: Part of what we also saw was that particularly with

928
00:42:58,080 --> 00:43:01,319
Speaker 12: middle and lower income consumer, they're feeling under a lot

929
00:43:01,360 --> 00:43:03,120
Speaker 12: of pressure. He said, I think there's a lot of

930
00:43:03,840 --> 00:43:06,759
Speaker 12: commentary about what's the state of the economy, how's it doing,

931
00:43:06,960 --> 00:43:08,719
Speaker 12: And what we see is it's really kind of a

932
00:43:08,719 --> 00:43:13,000
Speaker 12: two tier economy. If your upper income earning over one

933
00:43:13,040 --> 00:43:16,759
Speaker 12: hundred thousand dollars, things are good, stock markets are near

934
00:43:16,800 --> 00:43:21,399
Speaker 12: all time highs, you're feeling quite confident about things. You're

935
00:43:21,400 --> 00:43:26,120
Speaker 12: seeing international travel, All those barometers of upper income consumers

936
00:43:26,280 --> 00:43:28,840
Speaker 12: are doing quite well. What we see with middle and

937
00:43:28,840 --> 00:43:31,680
Speaker 12: lower income consumers is actually a different story. It's that

938
00:43:31,800 --> 00:43:34,760
Speaker 12: consumers under a lot of pressure. In our industry, traffic

939
00:43:35,160 --> 00:43:39,239
Speaker 12: for lower income consumers is down double digits and it's

940
00:43:39,280 --> 00:43:42,680
Speaker 12: because people are either choosing to skip a meal, so

941
00:43:42,719 --> 00:43:46,759
Speaker 12: we're seeing breakfast people are actually skipping breakfast, or they're

942
00:43:46,800 --> 00:43:49,560
Speaker 12: choosing to just eat at home. And so for our business,

943
00:43:50,400 --> 00:43:53,920
Speaker 12: which has a significant group of consumers which are in

944
00:43:53,920 --> 00:43:56,640
Speaker 12: that middle and lower income, we needed to step in

945
00:43:56,680 --> 00:43:58,360
Speaker 12: with something like what we're doing here.

946
00:43:58,680 --> 00:44:01,360
Speaker 3: Listening to the CEO McDonald A, let's skipping breakfast office

947
00:44:01,360 --> 00:44:04,359
Speaker 3: took now. I will say on McDonald's it's still outrageously

948
00:44:04,360 --> 00:44:07,960
Speaker 3: expensive compared to where it used to be. I don't

949
00:44:08,000 --> 00:44:10,359
Speaker 3: eat McDonald's maybe more than two or three times a year.

950
00:44:10,400 --> 00:44:12,600
Speaker 3: My wife gets hungry for it. She's nursing whatever, she

951
00:44:12,600 --> 00:44:15,719
Speaker 3: gets what she wants. So I go to McDonald's the mcgriddle.

952
00:44:16,080 --> 00:44:18,320
Speaker 3: It costs me nine dollars, and I tweeted about that.

953
00:44:18,320 --> 00:44:20,040
Speaker 3: People made fun of me because apparently I don't use

954
00:44:20,040 --> 00:44:22,319
Speaker 3: the app. No, I'm not degenerate enough to have the

955
00:44:22,600 --> 00:44:26,520
Speaker 3: McDonald's app or to be knowledgeable enough about set deals.

956
00:44:26,680 --> 00:44:29,320
Speaker 3: But in my head, as a child of the nineties,

957
00:44:29,480 --> 00:44:31,440
Speaker 3: you're on a road trip and you roll up to McDonald's,

958
00:44:31,520 --> 00:44:33,960
Speaker 3: how much do you think that should cost? A couple bucks?

959
00:44:34,239 --> 00:44:37,359
Speaker 1: You know, a buck ninety nine? And yet it's not

960
00:44:37,400 --> 00:44:38,000
Speaker 1: just the price.

961
00:44:38,120 --> 00:44:40,960
Speaker 3: What he really said there, which is important is if

962
00:44:41,000 --> 00:44:44,480
Speaker 3: you look he said below one hundred thousand, you're seeing

963
00:44:44,480 --> 00:44:47,279
Speaker 3: a massive reduction in lower income consumers being able to

964
00:44:47,280 --> 00:44:50,360
Speaker 3: go out to eat, and people are skipping breakfast.

965
00:44:50,440 --> 00:44:50,600
Speaker 1: Now.

966
00:44:50,640 --> 00:44:53,120
Speaker 3: I think that's hopefully they're getting enough to eat, you know,

967
00:44:53,200 --> 00:44:54,239
Speaker 3: elsewhere and or.

968
00:44:54,200 --> 00:44:55,000
Speaker 1: Trying to eat at home.

969
00:44:55,320 --> 00:44:58,239
Speaker 3: But the totality of it is that, yeah, it might

970
00:44:58,280 --> 00:45:01,560
Speaker 3: be marginally cheaper on a percent basis to eat at home,

971
00:45:01,760 --> 00:45:03,960
Speaker 3: but it's still really expensive to eat at home. If

972
00:45:04,000 --> 00:45:05,640
Speaker 3: you're talking about a cup of coffee. We've talked here

973
00:45:05,680 --> 00:45:09,040
Speaker 3: about coffee, futures, folders and more is actually exploded in price.

974
00:45:09,560 --> 00:45:12,000
Speaker 3: Even if you look at the basic necessities of goods

975
00:45:12,600 --> 00:45:16,480
Speaker 3: meat in particular protein, the price is just astounding. You

976
00:45:16,480 --> 00:45:18,000
Speaker 3: can still eat cheap if you want to, but it

977
00:45:18,040 --> 00:45:20,040
Speaker 3: takes a lot more effort than it used to in

978
00:45:20,080 --> 00:45:22,359
Speaker 3: the past. So if you put that together, I think

979
00:45:22,560 --> 00:45:25,160
Speaker 3: here is where you should listen to the CEO of

980
00:45:25,200 --> 00:45:26,959
Speaker 3: McDonald's or the CEO of Walmart.

981
00:45:26,680 --> 00:45:28,120
Speaker 1: Or or these other people who have to cater to all

982
00:45:28,120 --> 00:45:28,920
Speaker 1: of these customers.

983
00:45:29,120 --> 00:45:32,200
Speaker 3: And now McDonald's is scrambling to try and bring back

984
00:45:32,239 --> 00:45:34,440
Speaker 3: you know, below five dollars meals and more because they

985
00:45:34,480 --> 00:45:37,040
Speaker 3: can see the consumer cannot afford it.

986
00:45:37,960 --> 00:45:38,640
Speaker 1: That's the real track.

987
00:45:38,719 --> 00:45:42,080
Speaker 2: Yeah, I mean down double Digitsu says traffic from lower

988
00:45:42,080 --> 00:45:45,200
Speaker 2: income consumers. I mean, that is a very significant sign.

989
00:45:45,360 --> 00:45:48,239
Speaker 2: And it's not just that the prices are high. It's

990
00:45:48,280 --> 00:45:50,680
Speaker 2: also that the wages are not keeping up. We covered

991
00:45:50,719 --> 00:45:53,240
Speaker 2: pres I mean, I think the two tier economy comment

992
00:45:53,320 --> 00:45:55,080
Speaker 2: is the perfect way to think about it. You've got

993
00:45:55,080 --> 00:45:57,080
Speaker 2: the stock market that just keeps going up and up

994
00:45:57,120 --> 00:45:59,399
Speaker 2: and up, seemingly totally divorced, and we'll talk more about

995
00:45:59,400 --> 00:46:02,440
Speaker 2: what's going on there from the actual real economy, what

996
00:46:02,480 --> 00:46:04,600
Speaker 2: people deal with trying to make ends meet on a

997
00:46:04,680 --> 00:46:08,880
Speaker 2: day to day basis. And meanwhile, especially lower quintile wages

998
00:46:09,200 --> 00:46:12,800
Speaker 2: are not keeping pace with inflation. So people are struggling.

999
00:46:12,840 --> 00:46:16,000
Speaker 2: They're going into deeper and deeper debt, they are very.

1000
00:46:15,800 --> 00:46:17,280
Speaker 4: Pessimistic about the future.

1001
00:46:17,320 --> 00:46:19,640
Speaker 2: They are holding back on any purchases that they can,

1002
00:46:19,719 --> 00:46:22,480
Speaker 2: they're apparently skipping breakfast so that they can make it

1003
00:46:22,520 --> 00:46:26,160
Speaker 2: all work in their budgets. So these are dire indications

1004
00:46:26,440 --> 00:46:28,000
Speaker 2: of where the economy is headed right now.

1005
00:46:28,080 --> 00:46:31,840
Speaker 3: That's absolutely and there's absolutely there is some really troubling

1006
00:46:31,880 --> 00:46:34,400
Speaker 3: stuff behind the scenes, and I've talked about this in

1007
00:46:34,440 --> 00:46:37,279
Speaker 3: particular with the stocks is. I was like, man, I

1008
00:46:37,360 --> 00:46:42,560
Speaker 3: just don't get how with inflation, with reduction and consumer spending, tariffs,

1009
00:46:42,600 --> 00:46:44,759
Speaker 3: how can the market.

1010
00:46:44,200 --> 00:46:45,319
Speaker 1: Continue to go up.

1011
00:46:45,520 --> 00:46:47,640
Speaker 3: Well, now we have a little bit more of the story.

1012
00:46:47,719 --> 00:46:50,360
Speaker 3: Let's put this up here on the screen. Fantastic piece

1013
00:46:50,400 --> 00:46:53,760
Speaker 3: by the Wall Street Journal behind this season's bumper earnings,

1014
00:46:54,239 --> 00:46:59,680
Speaker 3: job cuts, price hikes glum workers quote, consumer spending is

1015
00:46:59,719 --> 00:47:04,680
Speaker 3: not driving company profits as much as reducing expenses improving efficiency.

1016
00:47:04,960 --> 00:47:07,480
Speaker 3: That could be a problem, they say. American companies are

1017
00:47:07,560 --> 00:47:10,560
Speaker 3: once again beating profit expectations, but they're not doing it

1018
00:47:10,640 --> 00:47:14,479
Speaker 3: by banking on blockbuster consumer spending. Instead, the latest batch

1019
00:47:14,480 --> 00:47:16,640
Speaker 3: of quarterly earnings gets a lift for managers who are

1020
00:47:16,640 --> 00:47:20,640
Speaker 3: squeezing out costs, boosting productivity, turning to new technologies, all

1021
00:47:20,680 --> 00:47:23,319
Speaker 3: of whom who say they're holding down hiring often while

1022
00:47:23,320 --> 00:47:25,719
Speaker 3: finding new ways to get employees to work more efficiently

1023
00:47:25,760 --> 00:47:29,319
Speaker 3: aka work more, and are raising prices when they can.

1024
00:47:29,560 --> 00:47:32,680
Speaker 1: The processes are quote human light. Now.

1025
00:47:32,960 --> 00:47:36,200
Speaker 3: That is from one chief financial officer last month telling

1026
00:47:36,239 --> 00:47:39,840
Speaker 3: investors about the initiative that includes automation upgrades global logistics

1027
00:47:39,840 --> 00:47:42,520
Speaker 3: say the higher profit margins despite a nearly eight percent

1028
00:47:42,600 --> 00:47:47,000
Speaker 3: drop in revenue, even though there is a prolonged freight recession.

1029
00:47:47,040 --> 00:47:50,319
Speaker 3: How do you do that? You raise your prices. And so, yeah,

1030
00:47:50,360 --> 00:47:53,320
Speaker 3: the companies are doing fine. The investors in the stocks

1031
00:47:53,360 --> 00:47:54,919
Speaker 3: are doing great because that's where they demand.

1032
00:47:54,960 --> 00:47:56,719
Speaker 1: The number has to go up. It literally must.

1033
00:47:56,800 --> 00:47:59,640
Speaker 3: It's an American contract. It's like baked into our blood

1034
00:48:00,080 --> 00:48:03,040
Speaker 3: at this point. But what does it mean for all

1035
00:48:03,120 --> 00:48:07,000
Speaker 3: of you. You're paying more, you are working more hours

1036
00:48:07,080 --> 00:48:10,239
Speaker 3: for less pay. You are potentially not going to get

1037
00:48:10,239 --> 00:48:12,400
Speaker 3: a raise, you may even get a price cut, and

1038
00:48:12,400 --> 00:48:14,560
Speaker 3: then you'd be lucky to actually work, you know.

1039
00:48:14,560 --> 00:48:16,000
Speaker 1: And continue in your job.

1040
00:48:16,239 --> 00:48:18,359
Speaker 3: Put that together and it just makes a lot more

1041
00:48:18,400 --> 00:48:21,840
Speaker 3: sense about how exactly the McDonald's CEO with the straight

1042
00:48:21,880 --> 00:48:25,279
Speaker 3: face can talk about you know, oh well we're you know,

1043
00:48:25,320 --> 00:48:27,560
Speaker 3: we have all of this traffic down, et cetera, and

1044
00:48:27,640 --> 00:48:29,319
Speaker 3: all of that. But then if you look at the

1045
00:48:29,320 --> 00:48:32,200
Speaker 3: way that they continue to juice their profit, it will

1046
00:48:32,239 --> 00:48:35,000
Speaker 3: be you know, the five dollars stuff in maintaining sales

1047
00:48:35,040 --> 00:48:37,320
Speaker 3: there while also I guess taking advantages of idiots like

1048
00:48:37,360 --> 00:48:39,280
Speaker 3: me who apparently roll up to the window and pay nine.

1049
00:48:39,120 --> 00:48:41,919
Speaker 4: Dollars pay fool for right, Yeah, mcgrid, don't download that app.

1050
00:48:42,960 --> 00:48:45,520
Speaker 2: Well, yeah, I mean there's a lot that's going on

1051
00:48:45,640 --> 00:48:47,960
Speaker 2: in this article. I mean, first of all, AI has

1052
00:48:48,000 --> 00:48:49,680
Speaker 2: got to be a part of this, as companies are

1053
00:48:49,719 --> 00:48:52,839
Speaker 2: increasingly trying to instead of you know, hiring when we're

1054
00:48:52,840 --> 00:48:55,720
Speaker 2: talking about white collar workforces, hiring those new college grads

1055
00:48:55,719 --> 00:48:58,600
Speaker 2: because by the way, unemployment rate has really skyrocketed and

1056
00:48:58,640 --> 00:49:01,319
Speaker 2: is quite high at this point, rather than hiring those

1057
00:49:01,360 --> 00:49:05,680
Speaker 2: new college grads, they'll use AI and force their existing

1058
00:49:05,719 --> 00:49:10,080
Speaker 2: workforce to work war to avoid building out their workforce

1059
00:49:10,080 --> 00:49:12,680
Speaker 2: and to save costs. That way you have them you

1060
00:49:12,719 --> 00:49:15,960
Speaker 2: know what's called taking price, So using the excuse of

1061
00:49:16,080 --> 00:49:19,160
Speaker 2: tariff's inflation and also genuinely you know, facing higher costs

1062
00:49:19,200 --> 00:49:22,440
Speaker 2: in certain regards, they're using that to hike prices even

1063
00:49:22,480 --> 00:49:25,440
Speaker 2: beyond what is required. And then the other thing they

1064
00:49:25,440 --> 00:49:28,359
Speaker 2: talk about in here is the financial engineering that's going

1065
00:49:28,400 --> 00:49:30,839
Speaker 2: on too. So share buybacks they say have help put

1066
00:49:30,880 --> 00:49:33,560
Speaker 2: a shine on profits. Reducing the number of shares outstanding

1067
00:49:33,560 --> 00:49:38,640
Speaker 2: increases companies earnings per share numbers mechanically regardless of operating results. Overall,

1068
00:49:38,800 --> 00:49:42,440
Speaker 2: LSG data indicates that repurchases added about one point three

1069
00:49:42,480 --> 00:49:44,920
Speaker 2: percentage points to the S and P five hundreds gains

1070
00:49:44,960 --> 00:49:47,440
Speaker 2: in the second quarter. So some of this is just

1071
00:49:47,680 --> 00:49:51,120
Speaker 2: you know, financial engineering basically like smoke and mirror sort

1072
00:49:51,120 --> 00:49:53,680
Speaker 2: of accounting tricks to get things to look better than

1073
00:49:53,719 --> 00:49:56,120
Speaker 2: they actually are. So that's a piece of it as well.

1074
00:49:56,320 --> 00:49:58,520
Speaker 2: But if you look through this article, they have a

1075
00:49:58,600 --> 00:50:01,520
Speaker 2: chart in there that's pretty stunning where they look at

1076
00:50:01,640 --> 00:50:05,960
Speaker 2: consumer spending, consumer purchases, and then they take out inflation,

1077
00:50:06,040 --> 00:50:08,879
Speaker 2: they take out the price increases, and the line if

1078
00:50:08,920 --> 00:50:11,000
Speaker 2: you don't take them out, then the line of consumer spending, Oh,

1079
00:50:11,040 --> 00:50:12,960
Speaker 2: it's going up and up and people must be doing okay.

1080
00:50:13,320 --> 00:50:16,920
Speaker 2: If you take that out, it's flat since twenty twenty one. So,

1081
00:50:17,160 --> 00:50:19,680
Speaker 2: I mean that tells you a lot right there about how,

1082
00:50:20,000 --> 00:50:22,600
Speaker 2: you know, how fake a lot of the you know,

1083
00:50:22,640 --> 00:50:25,120
Speaker 2: the profits that are being generated here by these companies

1084
00:50:25,320 --> 00:50:28,120
Speaker 2: and how little bearing they have on what is actually

1085
00:50:28,160 --> 00:50:30,200
Speaker 2: going on with your average consumer owned.

1086
00:50:30,280 --> 00:50:32,760
Speaker 3: Yeah, and again this is why this is the Biden story.

1087
00:50:33,480 --> 00:50:36,719
Speaker 3: Everyone understood that under Biden. Yes, yeah, the S and

1088
00:50:36,760 --> 00:50:40,800
Speaker 3: P was up by like sixty percent over the entire course.

1089
00:50:41,200 --> 00:50:44,160
Speaker 3: Were you sixty percent better off if you were invested?

1090
00:50:44,239 --> 00:50:44,560
Speaker 1: Yeah?

1091
00:50:44,800 --> 00:50:48,239
Speaker 3: If you were buying stuff, no, you're buying steak at

1092
00:50:48,239 --> 00:50:51,440
Speaker 3: the at Costco or yeah, good luck, all right, to

1093
00:50:51,480 --> 00:50:52,359
Speaker 3: go ahead.

1094
00:50:52,239 --> 00:50:53,719
Speaker 1: And you know what a lot of people have done.

1095
00:50:53,760 --> 00:50:56,160
Speaker 3: If you really want to feel truly crazy, go in

1096
00:50:56,239 --> 00:50:58,680
Speaker 3: your Amazon cart and scroll all the way back to

1097
00:50:58,719 --> 00:51:00,799
Speaker 3: twenty twenty and go look at what you were paying

1098
00:51:00,880 --> 00:51:02,800
Speaker 3: for basics, and then compare it to today.

1099
00:51:03,000 --> 00:51:03,960
Speaker 1: You can do that with Walmart.

1100
00:51:03,960 --> 00:51:06,040
Speaker 3: If you use Walmart or any of these other places.

1101
00:51:06,040 --> 00:51:08,160
Speaker 3: You can even look at your credit card bill broadly

1102
00:51:08,239 --> 00:51:10,600
Speaker 3: and look at I use like tracking, I know exactly

1103
00:51:10,600 --> 00:51:13,040
Speaker 3: how much I pay for like every at the grocery store,

1104
00:51:13,080 --> 00:51:16,919
Speaker 3: for example. You can compare based on five years ago

1105
00:51:17,120 --> 00:51:19,879
Speaker 3: to today, and you know, just general, keep in mind

1106
00:51:19,960 --> 00:51:23,000
Speaker 3: it is astounding sometimes like forty or fifty percent higher,

1107
00:51:23,040 --> 00:51:26,000
Speaker 3: depending on the number of goods you're also showing. You know,

1108
00:51:26,040 --> 00:51:29,520
Speaker 3: stuff is showing up in all kinds of the wrong places.

1109
00:51:29,560 --> 00:51:31,279
Speaker 3: So both the New York Times and the Wall Street

1110
00:51:31,320 --> 00:51:35,400
Speaker 3: Journal just wrote stories about how black Americans in particular

1111
00:51:35,480 --> 00:51:37,200
Speaker 3: seem to be struggling. Right now, let's put this up

1112
00:51:37,239 --> 00:51:39,839
Speaker 3: here on the screen both of them. What they say

1113
00:51:39,880 --> 00:51:41,600
Speaker 3: on the New York Times side is that if you

1114
00:51:41,600 --> 00:51:44,440
Speaker 3: look at this it's largely a cuts to federal agencies.

1115
00:51:44,480 --> 00:51:46,160
Speaker 3: And that's also an important part of the story because

1116
00:51:46,160 --> 00:51:49,760
Speaker 3: the federal government is the largest employer in the United States,

1117
00:51:49,960 --> 00:51:51,239
Speaker 3: and they said that this is one of the most

1118
00:51:51,320 --> 00:51:54,520
Speaker 3: staggering losses of employment that black women have ever seen

1119
00:51:54,719 --> 00:51:57,080
Speaker 3: in our current economy. On the Wall Street Journal side,

1120
00:51:57,120 --> 00:52:00,520
Speaker 3: they say unemployment may remain historically low, but on employment

1121
00:52:00,560 --> 00:52:03,120
Speaker 3: for in black Americans, it's some seven point two percent.

1122
00:52:03,520 --> 00:52:07,360
Speaker 3: Probably again attributable it seems to like federal agencies. But

1123
00:52:07,680 --> 00:52:10,600
Speaker 3: the point just broadly is for Trump, one of the

1124
00:52:10,640 --> 00:52:12,600
Speaker 3: things that he could hang his hat on when he

1125
00:52:12,640 --> 00:52:16,080
Speaker 3: got elected was what was oh, I got historic margins

1126
00:52:16,120 --> 00:52:16,759
Speaker 3: with black people.

1127
00:52:16,880 --> 00:52:18,399
Speaker 1: I got historic margins with.

1128
00:52:18,680 --> 00:52:20,719
Speaker 3: Hispanic And you know, if you talk to a lot

1129
00:52:20,719 --> 00:52:24,600
Speaker 3: of those guys or gals, guys and in some cases gals,

1130
00:52:25,320 --> 00:52:27,759
Speaker 3: what did they say that they voted for Trump on

1131
00:52:28,040 --> 00:52:31,040
Speaker 3: the economy? They were fed up with Biden and they

1132
00:52:31,080 --> 00:52:34,000
Speaker 3: didn't feel like Kamala was going to do anything about it.

1133
00:52:34,080 --> 00:52:35,839
Speaker 1: So look pocketbook and all of that.

1134
00:52:36,520 --> 00:52:39,439
Speaker 3: Sometimes it's number one, not always, but I do think

1135
00:52:39,480 --> 00:52:42,799
Speaker 3: it can be very disillusioning broadly when you look at

1136
00:52:42,800 --> 00:52:45,120
Speaker 3: all that and the general experience of being an American

1137
00:52:45,200 --> 00:52:48,080
Speaker 3: consumer today, in my opinion, is hellish. Like it's just

1138
00:52:48,400 --> 00:52:51,400
Speaker 3: deeply expensive. Everything is paid for play no matter what.

1139
00:52:51,480 --> 00:52:53,719
Speaker 4: Yeah, you feel exploited time, you really are.

1140
00:52:53,800 --> 00:52:55,440
Speaker 1: I mean it's like you go out to a restaurant.

1141
00:52:55,440 --> 00:52:56,200
Speaker 1: I don't drink alcohol.

1142
00:52:56,239 --> 00:52:58,000
Speaker 3: You go out to a restaurant and it's not even

1143
00:52:58,040 --> 00:53:01,480
Speaker 3: particularly good, and it's like six seventy dollars and you're like,

1144
00:53:01,760 --> 00:53:03,960
Speaker 3: what am I paying for? Like again, in my head,

1145
00:53:04,000 --> 00:53:06,319
Speaker 3: it should be thirty five. Should have just stayed at home,

1146
00:53:06,400 --> 00:53:09,160
Speaker 3: you know. Same with the drive through, just everything apparently

1147
00:53:09,200 --> 00:53:11,759
Speaker 3: no Disney World. I talked about this to marg at

1148
00:53:11,760 --> 00:53:12,400
Speaker 3: every step.

1149
00:53:12,200 --> 00:53:15,720
Speaker 2: All the susceptions, like the now, if you're a big

1150
00:53:16,320 --> 00:53:18,480
Speaker 2: NBA fan and you want to watch all the games,

1151
00:53:18,520 --> 00:53:20,239
Speaker 2: good luck. Yeah you're gonna you have to buy like

1152
00:53:20,280 --> 00:53:22,640
Speaker 2: freaking seven different streaming packages.

1153
00:53:22,239 --> 00:53:23,319
Speaker 4: In order to pull it off.

1154
00:53:23,440 --> 00:53:25,880
Speaker 2: So like this deal we thought we were getting with

1155
00:53:25,920 --> 00:53:28,440
Speaker 2: the cord cutting and cable going away, now we're just

1156
00:53:28,480 --> 00:53:32,279
Speaker 2: getting screwed. Now every company out there can Nicol and dime.

1157
00:53:32,320 --> 00:53:35,200
Speaker 2: You are much more than that, frankly to death. So yeah,

1158
00:53:35,239 --> 00:53:38,520
Speaker 2: it just it feels the level of sort of pillaging

1159
00:53:38,600 --> 00:53:41,600
Speaker 2: and exploitation has been through the roof.

1160
00:53:42,280 --> 00:53:43,680
Speaker 4: It's been absolutely insane.

1161
00:53:43,719 --> 00:53:45,399
Speaker 2: And you know, just to go back to what we're

1162
00:53:45,440 --> 00:53:48,520
Speaker 2: saying about about black workers, black workers are frequently the

1163
00:53:48,520 --> 00:53:51,799
Speaker 2: reason it's important statistic obviously is because we want people

1164
00:53:51,840 --> 00:53:53,920
Speaker 2: to have jobs. They also tend to be canarying the

1165
00:53:53,960 --> 00:53:58,279
Speaker 2: coal mine for the economy because historically, you know, unfortunately,

1166
00:53:58,400 --> 00:54:01,920
Speaker 2: you have black people higher represented in low wage, lower

1167
00:54:01,960 --> 00:54:05,040
Speaker 2: skill employment, and so you have that dynamic. And then

1168
00:54:05,040 --> 00:54:07,920
Speaker 2: you also have the American government. The federal government has

1169
00:54:08,000 --> 00:54:10,799
Speaker 2: been you know, helped to build out the American black

1170
00:54:10,840 --> 00:54:13,439
Speaker 2: middle class, and that is nowhere is more evident than

1171
00:54:13,600 --> 00:54:17,640
Speaker 2: in and around DC. And so when you have Doge

1172
00:54:17,640 --> 00:54:21,680
Speaker 2: coming in and just wantonly slashing random government positions, not

1173
00:54:21,680 --> 00:54:23,799
Speaker 2: saving any money, by the way, just making everything worse

1174
00:54:23,840 --> 00:54:26,319
Speaker 2: than kicking people out of a job, you can see

1175
00:54:26,320 --> 00:54:29,319
Speaker 2: the effects of that showing up in the black unemployment rate.

1176
00:54:29,320 --> 00:54:32,440
Speaker 2: And I'm sure that is especially pronounced right here in

1177
00:54:32,480 --> 00:54:33,040
Speaker 2: this region.

1178
00:54:33,160 --> 00:54:36,120
Speaker 3: Absolutely, you know, to your point, I don't know, do

1179
00:54:36,120 --> 00:54:38,120
Speaker 3: you know what NFL red zone is. I know that

1180
00:54:38,160 --> 00:54:39,560
Speaker 3: a lot of my friends are not taking this well

1181
00:54:39,560 --> 00:54:41,920
Speaker 3: well anyway, I'm sure a lot of our bro audience does.

1182
00:54:42,040 --> 00:54:42,320
Speaker 6: Now.

1183
00:54:42,480 --> 00:54:43,880
Speaker 3: I think you pay for it it's like to be

1184
00:54:43,880 --> 00:54:46,719
Speaker 3: able to watch all the games or something whatever. But

1185
00:54:46,760 --> 00:54:48,319
Speaker 3: the point they now they're going to have commercials, so

1186
00:54:48,360 --> 00:54:50,920
Speaker 3: you pay for it and you have to watch. That's

1187
00:54:50,920 --> 00:54:54,040
Speaker 3: how everything works now, every or you know, it's like Hulu.

1188
00:54:54,120 --> 00:54:56,160
Speaker 3: It's like, oh, you pay seven ninety nine, watch with ads.

1189
00:54:56,200 --> 00:54:58,960
Speaker 3: We can pay fourteen ninety nine, watch with no fourteen

1190
00:54:59,080 --> 00:55:01,720
Speaker 3: ninety nine, like a show that you might watch once,

1191
00:55:02,239 --> 00:55:04,879
Speaker 3: you know, once a year. And then oh, you got

1192
00:55:04,880 --> 00:55:06,560
Speaker 3: to have Netflix too, and then you have to have

1193
00:55:06,560 --> 00:55:08,480
Speaker 3: Disney Plus. So just have a kid apparently gotta have

1194
00:55:08,520 --> 00:55:10,480
Speaker 3: Disney Plus. Well, if you're gonna have Disney Plus, might

1195
00:55:10,480 --> 00:55:12,520
Speaker 3: as well the Disney Plus version with no ads, because

1196
00:55:12,520 --> 00:55:15,680
Speaker 3: then the kids will get angry. It's just it never ends.

1197
00:55:16,040 --> 00:55:19,640
Speaker 3: It's everything. Everything is subscription. Everything is pay for play,

1198
00:55:19,920 --> 00:55:22,160
Speaker 3: and even what you're paying for is not even particularly

1199
00:55:22,200 --> 00:55:23,600
Speaker 3: good video games.

1200
00:55:23,640 --> 00:55:24,319
Speaker 4: It's the same thing.

1201
00:55:24,400 --> 00:55:24,799
Speaker 1: If you.

1202
00:55:26,640 --> 00:55:28,120
Speaker 2: May pay on the front end, or you may not

1203
00:55:28,200 --> 00:55:30,319
Speaker 2: pay on the front end, you know, to download this game,

1204
00:55:30,520 --> 00:55:32,239
Speaker 2: but then if you want to do this thing in

1205
00:55:32,280 --> 00:55:34,240
Speaker 2: the game, or you want to rise to this level

1206
00:55:34,239 --> 00:55:35,799
Speaker 2: in the game, then oh you gotta buy you gotta

1207
00:55:35,800 --> 00:55:36,520
Speaker 2: buy the roebox.

1208
00:55:36,600 --> 00:55:37,279
Speaker 1: You got what is it.

1209
00:55:37,280 --> 00:55:39,279
Speaker 3: It's like you can crazy, you can play for it,

1210
00:55:39,440 --> 00:55:41,200
Speaker 3: or you could pay to like get around.

1211
00:55:41,239 --> 00:55:42,520
Speaker 1: I think it's out for it again, I don't know,

1212
00:55:42,560 --> 00:55:42,799
Speaker 1: I don't.

1213
00:55:43,040 --> 00:55:45,640
Speaker 2: I mean, it varies per game, but if you are

1214
00:55:45,680 --> 00:55:48,319
Speaker 2: willing to shell out the dollars, then you're going to

1215
00:55:48,360 --> 00:55:50,839
Speaker 2: advance more in the game and participate in the full

1216
00:55:50,880 --> 00:55:53,520
Speaker 2: experience or whatever. It's really you know, I mean, it's

1217
00:55:53,560 --> 00:55:55,680
Speaker 2: just at every turn, and you know, not to be

1218
00:55:55,719 --> 00:55:57,680
Speaker 2: all like back of my day, but back of my day,

1219
00:55:58,040 --> 00:56:00,320
Speaker 2: you bought the game and that was it. That was

1220
00:56:00,360 --> 00:56:02,160
Speaker 2: the end of the story. Well, they could never of

1221
00:56:02,200 --> 00:56:03,440
Speaker 2: a vision. They would have done it.

1222
00:56:03,440 --> 00:56:05,040
Speaker 3: If they could have, they just didn't have the opinion,

1223
00:56:05,080 --> 00:56:07,680
Speaker 3: didn't have the time. So and to milk people for

1224
00:56:07,880 --> 00:56:10,920
Speaker 3: as much money as possible. So I don't know, I

1225
00:56:11,000 --> 00:56:14,000
Speaker 3: really sometimes when I look at the average prices and

1226
00:56:14,040 --> 00:56:16,520
Speaker 3: then I look at the average income, I do not

1227
00:56:16,719 --> 00:56:20,279
Speaker 3: understand how people make it at all, Like period, just

1228
00:56:20,600 --> 00:56:23,960
Speaker 3: the monthly nut, the absolute basics. I'm like, do you

1229
00:56:24,000 --> 00:56:26,560
Speaker 3: have any money left at all? And then no, you know,

1230
00:56:26,600 --> 00:56:28,640
Speaker 3: you look at the credit card numbers and all that.

1231
00:56:28,719 --> 00:56:30,400
Speaker 3: I'm like, yeah, that's the only way that any of

1232
00:56:30,480 --> 00:56:32,160
Speaker 3: it makes sense. By the way, some breaking news just

1233
00:56:32,200 --> 00:56:35,440
Speaker 3: came across the wire. US companies have announced just fourteen

1234
00:56:35,560 --> 00:56:37,960
Speaker 3: hundred new jobs in August. That's the lowest for the

1235
00:56:38,000 --> 00:56:41,640
Speaker 3: month since two thousand, in line layoff surging to thirty

1236
00:56:41,719 --> 00:56:46,040
Speaker 3: nine percent with eighty five thousand. These EIGHTYP payroll numbers

1237
00:56:46,040 --> 00:56:49,000
Speaker 3: this first walk that just literally just came out.

1238
00:56:49,080 --> 00:56:51,359
Speaker 4: As of fourteen hundred, that's what they said.

1239
00:56:51,440 --> 00:56:54,239
Speaker 3: Yeah, so I mean making sure. Yeah, that's that's the

1240
00:56:54,560 --> 00:56:55,640
Speaker 3: that's the number from EIGHTYP.

1241
00:56:55,800 --> 00:56:57,239
Speaker 4: So when do we get the do we get the

1242
00:56:57,239 --> 00:56:58,080
Speaker 4: government jobs report?

1243
00:56:58,120 --> 00:56:58,200
Speaker 6: To me?

1244
00:56:58,280 --> 00:57:00,719
Speaker 2: I think they're se much they are said, but it

1245
00:57:00,760 --> 00:57:03,080
Speaker 2: comes out on Fridays, so we'll probably get that one.

1246
00:57:03,280 --> 00:57:04,759
Speaker 2: I think it's the first Friday of the month, so

1247
00:57:04,800 --> 00:57:05,880
Speaker 2: we'll probably get that tomorrow.

1248
00:57:06,000 --> 00:57:10,560
Speaker 1: Wow EIGHTYP number. Yeh.

1249
00:57:11,280 --> 00:57:13,760
Speaker 2: While you're looking at that, put the next element up, guys.

1250
00:57:14,360 --> 00:57:16,760
Speaker 2: At least the tariffs are going well or restoring our

1251
00:57:16,800 --> 00:57:21,880
Speaker 2: manufacturing glory hair. Oh wait, actually manufacturing contracts drop for

1252
00:57:21,920 --> 00:57:22,800
Speaker 2: six months in a row.

1253
00:57:23,120 --> 00:57:25,439
Speaker 4: So and that's a big part of the story too.

1254
00:57:25,520 --> 00:57:29,320
Speaker 2: Here is you know, Trump was talking ironically about how

1255
00:57:29,320 --> 00:57:32,919
Speaker 2: the court decisions with their regard to tariffs, we're creating uncertainty.

1256
00:57:33,200 --> 00:57:36,600
Speaker 2: It's like Your whole thing is complete insanity and chaos.

1257
00:57:36,840 --> 00:57:39,000
Speaker 2: What are we talking about here? There's no ability for

1258
00:57:39,040 --> 00:57:41,800
Speaker 2: anyone to plan. No company would want to hire into

1259
00:57:41,840 --> 00:57:44,360
Speaker 2: the circuit, No company would want to invest build out

1260
00:57:44,360 --> 00:57:47,920
Speaker 2: big manufacturing plants in this environment, because you don't know

1261
00:57:47,960 --> 00:57:51,160
Speaker 2: if the tariffs are on. If they're off, they obviously used.

1262
00:57:51,320 --> 00:57:54,240
Speaker 2: You know, very likely it's going to be struck down

1263
00:57:54,400 --> 00:57:58,200
Speaker 2: the authority that they use to levy these tariffs. They're

1264
00:57:58,240 --> 00:58:01,080
Speaker 2: very likely to be ultimately struck down, at least some

1265
00:58:01,160 --> 00:58:05,080
Speaker 2: broad swath of them. And so that has also raised

1266
00:58:05,120 --> 00:58:10,360
Speaker 2: prices for consumers, made business owners much more uncertain about

1267
00:58:10,360 --> 00:58:13,880
Speaker 2: what the future holds, and created another massive chill on

1268
00:58:13,920 --> 00:58:16,000
Speaker 2: the economy that is filtering through as we speak.

1269
00:58:16,040 --> 00:58:17,600
Speaker 1: Yeah, by the way, it was a misprint. It's fifty

1270
00:58:17,600 --> 00:58:19,200
Speaker 1: four thousand jobs. Sorry about that?

1271
00:58:19,320 --> 00:58:20,120
Speaker 6: Holy cow? All right?

1272
00:58:20,240 --> 00:58:23,720
Speaker 3: Still not fifty four thousand according to better than fourteen hundred,

1273
00:58:23,840 --> 00:58:26,919
Speaker 3: but below the consensus forecast of seventy five thousand. See,

1274
00:58:26,920 --> 00:58:28,480
Speaker 3: this is why I shoul believe everything you read on

1275
00:58:28,480 --> 00:58:30,320
Speaker 3: the internet. You got to go and you read it.

1276
00:58:30,400 --> 00:58:31,320
Speaker 4: Sifty four thousand.

1277
00:58:31,720 --> 00:58:32,800
Speaker 1: What's g NBC doing there?

1278
00:58:32,880 --> 00:58:34,960
Speaker 4: Fifty four thousand is still not good?

1279
00:58:35,080 --> 00:58:37,600
Speaker 3: Anyway, So fifty four thousand jobs clams increased to two

1280
00:58:37,640 --> 00:58:39,680
Speaker 3: hundred and thirty seven thousand, up from eight thousand from

1281
00:58:39,680 --> 00:58:42,960
Speaker 3: the prior week and previous estimates job Openings said it

1282
00:58:42,960 --> 00:58:44,600
Speaker 3: was one of the worst levels for job openings in

1283
00:58:44,680 --> 00:58:46,080
Speaker 3: July since twenty twenty.

1284
00:58:46,160 --> 00:58:46,840
Speaker 1: Wow, there you go.

1285
00:58:46,920 --> 00:58:49,120
Speaker 2: Well, and let's put this last chart up on the screen,

1286
00:58:49,120 --> 00:58:52,040
Speaker 2: because that underscores the point. We're now at a place

1287
00:58:52,120 --> 00:58:55,080
Speaker 2: for the first time in a long time where you

1288
00:58:55,200 --> 00:59:01,000
Speaker 2: have more job seekers than you have job open So

1289
00:59:01,160 --> 00:59:03,360
Speaker 2: you can see that that red line, those are the

1290
00:59:03,480 --> 00:59:07,080
Speaker 2: unemployed looking for jobs and there are now officially too

1291
00:59:07,320 --> 00:59:11,600
Speaker 2: few job openings to go around. And this was according

1292
00:59:11,600 --> 00:59:14,440
Speaker 2: to BLSS data, so government data, and this was compiled

1293
00:59:14,440 --> 00:59:18,720
Speaker 2: by Steve Rattner and posted online. So you know that's

1294
00:59:18,800 --> 00:59:22,560
Speaker 2: also a very significant data point in terms of the trajectory.

1295
00:59:22,000 --> 00:59:22,640
Speaker 4: Of the economy.

1296
00:59:22,800 --> 00:59:22,960
Speaker 1: Yeah.

1297
00:59:23,040 --> 00:59:26,040
Speaker 3: Absolutely, So you can see all this stuff together. I

1298
00:59:26,080 --> 00:59:29,080
Speaker 3: don't know, it's not good. I always think it's got

1299
00:59:29,080 --> 00:59:31,960
Speaker 3: to end, but it actually doesn't. That's the that's the

1300
00:59:32,000 --> 00:59:34,680
Speaker 3: one thing where these people are somehow smarter than me.

1301
00:59:34,760 --> 00:59:37,400
Speaker 3: They can always figure out how to massage it, buy

1302
00:59:37,440 --> 00:59:38,400
Speaker 3: backstock whatever.

1303
00:59:38,520 --> 00:59:40,040
Speaker 1: They never like the bubble.

1304
00:59:40,080 --> 00:59:42,439
Speaker 3: Everyone always is like there's a bubble that's going to happen,

1305
00:59:42,520 --> 00:59:45,240
Speaker 3: and it just never stops. It's like they endlessly are

1306
00:59:45,280 --> 00:59:47,600
Speaker 3: able to figure it out. The really crazy part, too,

1307
00:59:47,680 --> 00:59:49,280
Speaker 3: is people just take it. They just keep paying and

1308
00:59:49,320 --> 00:59:51,840
Speaker 3: paying and paying. That's why I keep meaning about your

1309
00:59:51,840 --> 00:59:54,320
Speaker 3: monthly bills. I'm like, at what point You're just like, no,

1310
00:59:54,520 --> 00:59:56,040
Speaker 3: we're not dealing with this anymore.

1311
00:59:56,080 --> 00:59:59,360
Speaker 1: But I don't know. People are conditioned again, I really

1312
00:59:59,360 --> 00:59:59,800
Speaker 1: don't know.

1313
01:00:00,120 --> 01:00:02,280
Speaker 2: A condition to think of it as a personal failing

1314
01:00:02,320 --> 01:00:04,040
Speaker 2: if they're not able to make it rather than I

1315
01:00:04,080 --> 01:00:06,160
Speaker 2: really think that that's part of the like sort of

1316
01:00:07,000 --> 01:00:10,840
Speaker 2: perniciousness of the some of the American dream ideologies like

1317
01:00:10,880 --> 01:00:13,720
Speaker 2: if you work hard and you play by the rules.

1318
01:00:13,400 --> 01:00:15,280
Speaker 4: You can make it, And there have been studies about that.

1319
01:00:15,400 --> 01:00:19,480
Speaker 2: Because you have that so deeply culturally enmeshed, people are

1320
01:00:19,560 --> 01:00:23,200
Speaker 2: much more likely to blame themselves if they're struggling, versus

1321
01:00:23,320 --> 01:00:25,600
Speaker 2: looking at the system saying Okay, I need to protest

1322
01:00:25,600 --> 01:00:27,520
Speaker 2: against this, I need to vote this person out of

1323
01:00:27,520 --> 01:00:30,800
Speaker 2: office Versus other countries. The comparison I saw specifically was

1324
01:00:30,880 --> 01:00:34,680
Speaker 2: the American working class, like in Youngstown versus the British

1325
01:00:34,680 --> 01:00:38,240
Speaker 2: working class and like the London suburbs interesting and yeah,

1326
01:00:38,280 --> 01:00:40,280
Speaker 2: and so I mean it's it's a real phenomenon. Is

1327
01:00:40,400 --> 01:00:43,480
Speaker 2: people people turn inward and they blame themselves. They think

1328
01:00:43,520 --> 01:00:46,240
Speaker 2: that it's a moral failing if they're struggling in the economy.

1329
01:00:46,280 --> 01:00:48,040
Speaker 1: It can be both, like someone, it can be your fault,

1330
01:00:48,080 --> 01:00:48,800
Speaker 1: but a lot of it can.

1331
01:00:48,960 --> 01:00:51,280
Speaker 3: I mean, you when you look across the country, you

1332
01:00:51,520 --> 01:00:53,000
Speaker 3: don't these trends housing part.

1333
01:00:53,080 --> 01:00:54,160
Speaker 1: I mean, this is why we were talking.

1334
01:00:54,040 --> 01:00:54,800
Speaker 4: About the house.

1335
01:00:55,000 --> 01:00:57,720
Speaker 3: You don't create You know, you don't set interest rates, period,

1336
01:00:57,760 --> 01:01:00,560
Speaker 3: Like you're at literally at the mercy of the gods

1337
01:01:00,840 --> 01:01:04,200
Speaker 3: in Washington as to whether your mortgage was at three

1338
01:01:04,240 --> 01:01:07,360
Speaker 3: percent or at seven, like, you have no say on

1339
01:01:07,400 --> 01:01:08,240
Speaker 3: that whatsoever.

1340
01:01:08,320 --> 01:01:09,800
Speaker 1: So like, yeah, that's not your fault.

1341
01:01:10,040 --> 01:01:12,320
Speaker 3: You don't set the price of meat, like you don't

1342
01:01:12,360 --> 01:01:14,480
Speaker 3: set the price of any of this. I guess all

1343
01:01:14,520 --> 01:01:17,080
Speaker 3: you can really control is your job. But you know,

1344
01:01:17,120 --> 01:01:19,960
Speaker 3: within this and you look at the overall outpacing in

1345
01:01:20,040 --> 01:01:24,280
Speaker 3: terms of inflation for necessities and particular education, especially anything

1346
01:01:24,360 --> 01:01:26,720
Speaker 3: that's going to better yourself, like education or any of

1347
01:01:26,760 --> 01:01:30,040
Speaker 3: the other things, compared to the amount of wage inflation.

1348
01:01:30,400 --> 01:01:33,080
Speaker 1: It's just it's just devastating, so I don't know. Tucker said,

1349
01:01:33,080 --> 01:01:35,240
Speaker 1: people say that people should stop paying their credit card bills.

1350
01:01:35,520 --> 01:01:36,840
Speaker 1: Maybe we should, Maybe we should