1 00:00:11,840 --> 00:00:16,079 Speaker 1: Supply chains. Aren't you almost tired of hearing about the 2 00:00:16,120 --> 00:00:20,160 Speaker 1: word about the problem the blockage supply chains. We've got 3 00:00:20,160 --> 00:00:22,880 Speaker 1: supply chains, We've got empty shelves, empty shelves, Joe, I mean, 4 00:00:23,120 --> 00:00:28,800 Speaker 1: it can get a lot. Nobody's even explaining them. This 5 00:00:28,880 --> 00:00:31,000 Speaker 1: is this is part of my problem with a lot 6 00:00:31,040 --> 00:00:33,280 Speaker 1: of people in the media on the left hand the right. 7 00:00:33,760 --> 00:00:36,519 Speaker 1: They bring up words all the time because they've done 8 00:00:36,520 --> 00:00:38,120 Speaker 1: a bunch of reading on it or research on it, 9 00:00:38,159 --> 00:00:40,280 Speaker 1: so they have a base of knowledge on it. But 10 00:00:40,360 --> 00:00:45,200 Speaker 1: they don't they don't act like anyone else has anything 11 00:00:45,240 --> 00:00:47,720 Speaker 1: else to do. I mean, look, if you if you 12 00:00:47,760 --> 00:00:49,920 Speaker 1: do what I do for a living talking to a 13 00:00:49,960 --> 00:00:53,159 Speaker 1: TV and radio, that's my job, right, I have to 14 00:00:53,200 --> 00:00:55,400 Speaker 1: wake up and we'll have to read stuff, boy, which 15 00:00:55,440 --> 00:00:59,160 Speaker 1: sucks read stuff other people to tell people what's going on. 16 00:00:59,680 --> 00:01:02,360 Speaker 1: So let's do this with when it comes to supply chains, 17 00:01:02,360 --> 00:01:04,720 Speaker 1: before we get to Joe Biden and Jen Sak and 18 00:01:04,800 --> 00:01:07,600 Speaker 1: great guests and everything else. Tonight, let's just let's just 19 00:01:07,680 --> 00:01:12,200 Speaker 1: understand something basic about it. Say I have a factory, 20 00:01:12,640 --> 00:01:15,880 Speaker 1: the Jesse Kelly Factory of shirts. All right, Let's say 21 00:01:15,920 --> 00:01:18,880 Speaker 1: I have a factory. What do I need to make 22 00:01:18,880 --> 00:01:22,199 Speaker 1: a shirt. Well, I need the various cloth I'm gonna 23 00:01:22,200 --> 00:01:24,920 Speaker 1: make it with. I need the thread that's in here. 24 00:01:25,040 --> 00:01:28,040 Speaker 1: I'm sure there's some thread in here somewhere. I need buttons, 25 00:01:28,480 --> 00:01:31,160 Speaker 1: I need stuff for tags and whatnot. So I need 26 00:01:31,200 --> 00:01:34,959 Speaker 1: I need different things. Well, nobody's under the impression that 27 00:01:35,080 --> 00:01:39,320 Speaker 1: all those things can be acquired right around Jesse Kelly's 28 00:01:39,319 --> 00:01:41,319 Speaker 1: Shirt Factory. Right, I have to go find them some 29 00:01:41,400 --> 00:01:43,760 Speaker 1: other place. Maybe I have to get the cloth in 30 00:01:43,800 --> 00:01:47,000 Speaker 1: New Jersey. Maybe the buttons have to come from France. 31 00:01:47,440 --> 00:01:50,400 Speaker 1: Maybe the stitching comes from Texas. You understand. So they 32 00:01:50,480 --> 00:01:54,400 Speaker 1: have to come from different places. And here's the thing. 33 00:01:55,760 --> 00:01:59,320 Speaker 1: I need them to show up. These are all needs, right, kids, 34 00:01:59,400 --> 00:02:02,840 Speaker 1: Keep this in mind, these are all needs. I can't 35 00:02:02,880 --> 00:02:05,800 Speaker 1: sell any of these shirts from Jesse Kelly's Shirt Factory 36 00:02:06,360 --> 00:02:09,160 Speaker 1: without buttons. They all gotta have them. So I need 37 00:02:09,160 --> 00:02:14,320 Speaker 1: these things. Well, I also need them in a certain 38 00:02:14,360 --> 00:02:20,120 Speaker 1: amount of time because people are ordering shirts, not just individuals, 39 00:02:20,760 --> 00:02:23,720 Speaker 1: huge stores. Order to pick your clothing store out there, 40 00:02:23,760 --> 00:02:27,280 Speaker 1: we need a thousand Jesse Kelly's shirts from Jesse Kelly's 41 00:02:27,280 --> 00:02:31,280 Speaker 1: Shirt Factory. Okay, I have an order, and they need 42 00:02:31,280 --> 00:02:33,359 Speaker 1: that order in a certain amount of time. This is 43 00:02:33,400 --> 00:02:39,000 Speaker 1: just a little example. Now, what happens to Jesse Kelly's 44 00:02:39,000 --> 00:02:42,720 Speaker 1: shirt factory and the store is going to be selling 45 00:02:42,760 --> 00:02:46,200 Speaker 1: the shirts and the truckers who were supposed to truck 46 00:02:46,280 --> 00:02:49,600 Speaker 1: my shirts from Jesse Kelly's shirt factory to the seller. 47 00:02:50,320 --> 00:02:58,520 Speaker 1: What happens if the buttons are still in France? Everything stops, 48 00:02:58,560 --> 00:03:04,000 Speaker 1: Everything stops, And what's to fall out from that? What 49 00:03:04,200 --> 00:03:06,119 Speaker 1: is to fall out from that? Let's just talk about 50 00:03:06,240 --> 00:03:10,280 Speaker 1: Jesse Kelly's shirt factory. How long can I stay open 51 00:03:10,320 --> 00:03:14,639 Speaker 1: if Jesse Kelly's shirt factory doesn't sell shirts? How long 52 00:03:15,240 --> 00:03:19,079 Speaker 1: can the truckers stay in business if they're sitting there 53 00:03:19,120 --> 00:03:21,720 Speaker 1: with empty trucks because they're not full of Jesse Kelly's 54 00:03:21,720 --> 00:03:25,520 Speaker 1: shirts from Jesse Kelly's shirt factory. The retailer who is 55 00:03:25,520 --> 00:03:27,400 Speaker 1: going to sell them in his big store in them 56 00:03:27,400 --> 00:03:31,720 Speaker 1: all somewhere. How many customers are they losing because they 57 00:03:31,760 --> 00:03:35,040 Speaker 1: have to go get shirts from somewhere else? We see 58 00:03:35,080 --> 00:03:38,640 Speaker 1: him where we're going here. The supply chain, which is 59 00:03:38,680 --> 00:03:41,720 Speaker 1: pretty much what I just describe to you. That's why 60 00:03:41,760 --> 00:03:43,960 Speaker 1: people talk about it so much, and that's why it 61 00:03:44,120 --> 00:03:47,320 Speaker 1: sucked such a big deal. When we have as we 62 00:03:47,440 --> 00:03:53,080 Speaker 1: do a record number of ships off the coast of California. 63 00:03:53,200 --> 00:03:57,840 Speaker 1: It is going to create economic dislocation like you've never 64 00:03:57,880 --> 00:04:01,640 Speaker 1: seen in your life. It's going to create bizarre shortages 65 00:04:01,680 --> 00:04:05,320 Speaker 1: and outages of things you never even comprehended that. I 66 00:04:05,360 --> 00:04:07,320 Speaker 1: have been putting out the word on my show that 67 00:04:07,360 --> 00:04:11,400 Speaker 1: I want emails of people from different industries explaining to 68 00:04:11,440 --> 00:04:14,960 Speaker 1: me where they're seeing shortages and why. And I'll tell 69 00:04:15,000 --> 00:04:19,760 Speaker 1: you I was shocked. I've been shocked. And not the 70 00:04:19,839 --> 00:04:22,279 Speaker 1: good kind of shocked, not the oh, well, I have 71 00:04:22,320 --> 00:04:25,080 Speaker 1: an extra bag of sour patch kids in the pantry shocked. 72 00:04:25,400 --> 00:04:28,360 Speaker 1: It was the oh, I didn't see that coming kind 73 00:04:28,360 --> 00:04:34,080 Speaker 1: of shocked. I've been stunned. I'm hearing from surgeons and 74 00:04:34,240 --> 00:04:38,920 Speaker 1: nurses who work for surgeons. Surgery postponed. We don't have 75 00:04:38,960 --> 00:04:42,200 Speaker 1: the scalpels. Some guy wrote to my show he went 76 00:04:42,240 --> 00:04:44,880 Speaker 1: to the dentist and didn't get a toothbrush because there 77 00:04:44,920 --> 00:04:48,760 Speaker 1: aren't any more of those. Forget about things like chicken 78 00:04:49,000 --> 00:04:54,040 Speaker 1: and beef. I'm hearing about things like the Internet. Your 79 00:04:54,160 --> 00:04:58,400 Speaker 1: favorite website out there going down? Do you have any 80 00:04:58,400 --> 00:05:01,680 Speaker 1: websites you visit? Have you thought about this, because I 81 00:05:01,720 --> 00:05:03,760 Speaker 1: never thought about this. If you thought about this, that's 82 00:05:03,760 --> 00:05:05,440 Speaker 1: some guy right in and explain it all to me. 83 00:05:05,520 --> 00:05:08,080 Speaker 1: That's this website. You know, whoever runs your website. Let's 84 00:05:08,080 --> 00:05:10,960 Speaker 1: say let's use the first, right, the first TV dot com. 85 00:05:11,120 --> 00:05:14,080 Speaker 1: Everyone who doesn't love the first TV dot com? You 86 00:05:14,160 --> 00:05:16,960 Speaker 1: go to the first TV dot com. That's where you 87 00:05:17,000 --> 00:05:19,440 Speaker 1: get your news. Remember we send out this free newsletter. 88 00:05:19,480 --> 00:05:23,880 Speaker 1: It's it's awesome. What if it's not there anymore, just 89 00:05:23,920 --> 00:05:26,160 Speaker 1: one day you log in and it's gone like that. Well, 90 00:05:26,160 --> 00:05:30,360 Speaker 1: the first TV dot Com doesn't only exist online. It 91 00:05:30,440 --> 00:05:34,000 Speaker 1: needs things, very fancy computer microchips and all that stuff. 92 00:05:34,000 --> 00:05:37,159 Speaker 1: It's way beyond me. We get those from other places. 93 00:05:37,200 --> 00:05:39,480 Speaker 1: They're having a hard time getting those. Now, don't worry, 94 00:05:39,480 --> 00:05:41,160 Speaker 1: We're gonna be just find at the first. But you 95 00:05:41,279 --> 00:05:45,080 Speaker 1: see what I mean. Those things need updated constantly. What 96 00:05:45,200 --> 00:05:48,120 Speaker 1: if the update to the website you love and use, 97 00:05:48,240 --> 00:05:50,920 Speaker 1: maybe you use one for your livelihood. What if the 98 00:05:51,000 --> 00:05:53,919 Speaker 1: chips they need, what if they're parked off the coast 99 00:05:53,920 --> 00:05:58,120 Speaker 1: of California. You see, we have a huge problem. And 100 00:05:59,040 --> 00:06:02,080 Speaker 1: there are problems, and then there are problems. You see, 101 00:06:02,120 --> 00:06:04,479 Speaker 1: if you get home tonight and you go to bed, 102 00:06:04,960 --> 00:06:07,159 Speaker 1: family goes to bed and you wake up and you 103 00:06:07,279 --> 00:06:10,279 Speaker 1: smell smoke. Oh, we got a fire in the house. 104 00:06:10,400 --> 00:06:11,960 Speaker 1: You come out in the living rooms on fire, and 105 00:06:12,000 --> 00:06:15,279 Speaker 1: you get everyone safely out in the road. That's a problem, 106 00:06:15,279 --> 00:06:19,080 Speaker 1: the living rooms on fire. It becomes a lot bigger 107 00:06:19,120 --> 00:06:21,520 Speaker 1: problem when you find out there aren't any fire trucks 108 00:06:21,520 --> 00:06:24,640 Speaker 1: in your area and your home's gone. You see, it's 109 00:06:24,680 --> 00:06:27,200 Speaker 1: not just that we have a supply chain problem right now. 110 00:06:27,720 --> 00:06:30,760 Speaker 1: It's that there's no plan to fix it at all. 111 00:06:31,240 --> 00:06:35,040 Speaker 1: The Biden administration can't even pretend to care about it, 112 00:06:35,520 --> 00:06:39,560 Speaker 1: let alone fix it. It was crystal clear that things 113 00:06:39,560 --> 00:06:42,760 Speaker 1: were not improving on supply chain. People couldn't get dishwashers 114 00:06:42,839 --> 00:06:47,400 Speaker 1: and furniture and treadmills delivered on time, not to mention 115 00:06:47,480 --> 00:06:50,479 Speaker 1: all sorts of other things. So why the tragedy of 116 00:06:50,520 --> 00:06:56,760 Speaker 1: the short the treadmill that's delayed. You can't help herself. 117 00:06:57,520 --> 00:07:00,839 Speaker 1: These people cannot help themselves. They're so dis from how 118 00:07:00,920 --> 00:07:05,480 Speaker 1: real people live. They can't help but make snyde smug remarks. 119 00:07:06,080 --> 00:07:09,840 Speaker 1: They can't fix the supply chain problem. This problem is 120 00:07:09,880 --> 00:07:14,800 Speaker 1: caused by the idiotic COVID restrictions, by the crazy California rules, 121 00:07:14,960 --> 00:07:18,360 Speaker 1: A bunch of union problems out there. There's no fix 122 00:07:18,720 --> 00:07:21,640 Speaker 1: for what we're facing right now, none, and they don't. 123 00:07:22,240 --> 00:07:24,760 Speaker 1: They don't even pretend like there's going to be one. 124 00:07:25,160 --> 00:07:29,400 Speaker 1: They simply mock you to your face. Well, most people 125 00:07:29,440 --> 00:07:32,160 Speaker 1: aren't the White House Press secretary, they're not the president, 126 00:07:32,200 --> 00:07:35,480 Speaker 1: they're not the Speaker of the House. People have needs 127 00:07:35,640 --> 00:07:40,840 Speaker 1: out there, Real human beings need certain things. These certain 128 00:07:40,880 --> 00:07:45,920 Speaker 1: things are going to be gone, and they're already prepping us, 129 00:07:46,200 --> 00:07:50,720 Speaker 1: trying to prep the ground on us for misery, because 130 00:07:50,720 --> 00:07:53,120 Speaker 1: this is what these people do. They try to prep 131 00:07:53,120 --> 00:07:57,400 Speaker 1: the ground so when we're miserable, we won't complain about it. 132 00:07:57,680 --> 00:07:59,880 Speaker 1: We're seeing it time and time and time again. We're 133 00:07:59,840 --> 00:08:04,520 Speaker 1: seeing things like lower your expectations. That was from the 134 00:08:04,560 --> 00:08:08,840 Speaker 1: Washington Post. Just lower your expectation they're gonna do. By 135 00:08:08,840 --> 00:08:11,640 Speaker 1: the way, remember how often do I tell you they 136 00:08:11,720 --> 00:08:15,440 Speaker 1: use your values against you. You're going to be seeing 137 00:08:15,440 --> 00:08:18,760 Speaker 1: that a lot in the coming days, as the misery 138 00:08:18,840 --> 00:08:21,600 Speaker 1: spreads and poverty spreads and problems spread, you're going to 139 00:08:21,640 --> 00:08:26,480 Speaker 1: be seeing stop being so greedy, Stop being materialistic? Why 140 00:08:26,480 --> 00:08:30,000 Speaker 1: are you so greedy? That's them trying to cover up 141 00:08:30,040 --> 00:08:36,679 Speaker 1: for their failures by abusing your values. They will always 142 00:08:36,840 --> 00:08:40,560 Speaker 1: use your values against you. And let's remember something. We 143 00:08:40,600 --> 00:08:46,360 Speaker 1: already have inflation, bad inflation on a twelve month basis. 144 00:08:46,520 --> 00:08:52,200 Speaker 1: The inflation rate will remain high into next year because 145 00:08:52,240 --> 00:08:58,240 Speaker 1: of what's already happened, but I expect improvement by the 146 00:08:58,360 --> 00:09:00,800 Speaker 1: end of it, by the middle toy into next year, 147 00:09:03,240 --> 00:09:06,400 Speaker 1: just a year. What are you complaining about. I mean, 148 00:09:06,400 --> 00:09:08,520 Speaker 1: we already have inflation at what was that number, five 149 00:09:08,559 --> 00:09:11,840 Speaker 1: point four percent? You know what that means. Just so 150 00:09:11,880 --> 00:09:15,200 Speaker 1: everyone's clear about that, that means you just got demoted 151 00:09:15,240 --> 00:09:19,480 Speaker 1: at work. You've got a five point four percent salary decrease. 152 00:09:19,559 --> 00:09:22,360 Speaker 1: That's what inflation means. It's a hidden tax. Every dime 153 00:09:22,440 --> 00:09:25,280 Speaker 1: you have in your wallet is now worth five point 154 00:09:25,320 --> 00:09:29,880 Speaker 1: four percent less. That's where we're at. And they don't care. 155 00:09:30,280 --> 00:09:33,440 Speaker 1: And not only do they not care, they're trying to 156 00:09:33,480 --> 00:09:39,280 Speaker 1: pass a gigantic bill that will suck an extra one 157 00:09:39,600 --> 00:09:46,079 Speaker 1: two three trillion dollars out of the economy from private citizens. 158 00:09:46,120 --> 00:09:48,439 Speaker 1: And this, I'll tell you what I saw Janet yelling 159 00:09:48,480 --> 00:09:50,840 Speaker 1: go on TV and say this the other day. This 160 00:09:50,960 --> 00:09:54,200 Speaker 1: is quite an admission. We're going to talk about unrealized 161 00:09:54,240 --> 00:10:00,160 Speaker 1: capital gains. Well, I think what's under consideration is a 162 00:10:00,280 --> 00:10:05,040 Speaker 1: proposal that Senator Widen in the Senate Finance Committee have 163 00:10:05,240 --> 00:10:13,560 Speaker 1: been looking at that would impose attax on unrealized capital 164 00:10:13,679 --> 00:10:21,439 Speaker 1: gains on liquid assets held by extremely wealthy individuals billionaires. 165 00:10:22,240 --> 00:10:26,239 Speaker 1: I wouldn't call that a wealth tax, but it would 166 00:10:26,280 --> 00:10:31,640 Speaker 1: help get at capital gains, which are an extraordinarily large 167 00:10:31,760 --> 00:10:36,280 Speaker 1: part of the incomes of the wealthiest individuals. It's not 168 00:10:36,320 --> 00:10:41,640 Speaker 1: a wealth tax, but attax on unrealized capital gains of 169 00:10:42,040 --> 00:10:48,120 Speaker 1: exceptionally wealthy individuals. Do you hear how these communists talk. 170 00:10:48,200 --> 00:10:51,880 Speaker 1: Did you just hear her destroy her own points about 171 00:10:51,880 --> 00:10:54,280 Speaker 1: ten times? It's not a wealth tax. It's just we're 172 00:10:54,320 --> 00:10:56,760 Speaker 1: going after the gains of wealthy people, but not a 173 00:10:56,760 --> 00:11:00,120 Speaker 1: wealth tax. We're just going after wealthy people and their money. 174 00:11:01,720 --> 00:11:04,080 Speaker 1: We need wealthy people to keep investing. You realize what 175 00:11:04,280 --> 00:11:07,640 Speaker 1: you realize unrealized capital gains tax. You know what that is. 176 00:11:08,280 --> 00:11:10,920 Speaker 1: Let's just is to use a ham fisted example. Let's 177 00:11:10,920 --> 00:11:13,560 Speaker 1: say you have a home three hundred thousand dollars home. 178 00:11:14,240 --> 00:11:15,600 Speaker 1: Realize that's a nice home, but you have a three 179 00:11:15,679 --> 00:11:18,800 Speaker 1: hundred thousand dollars home, and let's say real state market 180 00:11:18,800 --> 00:11:20,800 Speaker 1: in your area blows up and now it's worth four 181 00:11:20,880 --> 00:11:23,520 Speaker 1: hundred thousand dollars. You're not selling your home, so you 182 00:11:23,559 --> 00:11:26,520 Speaker 1: got to live there, right, They're going to tax you 183 00:11:26,600 --> 00:11:30,760 Speaker 1: on one hundred thousand dollars you made. Yeah, that's what 184 00:11:30,920 --> 00:11:36,080 Speaker 1: unrealized capital gains tax is. These people it is. I mean, 185 00:11:36,760 --> 00:11:39,920 Speaker 1: we don't like to think about the destruction being intentional, 186 00:11:40,760 --> 00:11:45,280 Speaker 1: but it is intentional. There's no way you accidentally do 187 00:11:45,559 --> 00:11:49,559 Speaker 1: everything you could possibly do to destroy an economy that 188 00:11:49,600 --> 00:11:54,000 Speaker 1: happens on purpose. Remember that all that may have made 189 00:11:54,000 --> 00:11:57,240 Speaker 1: you uncomfortable, But I'm right. We have a great show 190 00:11:57,280 --> 00:12:00,439 Speaker 1: for you tonight. I'm so excited. First, get to talk 191 00:12:00,480 --> 00:12:03,480 Speaker 1: to my friend, Chef Andrew Gruel, he joins us. Next, 192 00:12:03,559 --> 00:12:05,559 Speaker 1: you know, it's a little something about small business right now, 193 00:12:05,679 --> 00:12:22,200 Speaker 1: hang on joining me. Now of the great Slapfish, the 194 00:12:22,320 --> 00:12:25,160 Speaker 1: best restaurant that I've never been to. Apparently, I can't 195 00:12:25,160 --> 00:12:27,000 Speaker 1: believe I haven't been to his restaurant yet. I haven't 196 00:12:27,000 --> 00:12:30,760 Speaker 1: been out to California, that chef. I'm coming, Chef Andrew Gruel. 197 00:12:30,840 --> 00:12:34,160 Speaker 1: Everybody tells me this Slapfish is the best place around. 198 00:12:34,600 --> 00:12:37,120 Speaker 1: What is before we get to all the supply chain stuff, 199 00:12:37,559 --> 00:12:42,559 Speaker 1: what is the most popular dish on the menu. Lots 200 00:12:42,559 --> 00:12:45,040 Speaker 1: of grilled feeds, half crab, half loster, cook to a 201 00:12:45,080 --> 00:12:49,320 Speaker 1: melting tenderness, sour dough, bread, dick cut, you name it, 202 00:12:49,400 --> 00:12:51,439 Speaker 1: and you know what you know where company Houston next year. 203 00:12:51,520 --> 00:12:55,720 Speaker 1: So I'm sorry, I'm sorry. What did you just say? 204 00:12:55,760 --> 00:12:59,800 Speaker 1: You're you're opening one in Houston. Oh yeah, we're moving 205 00:12:59,800 --> 00:13:01,840 Speaker 1: every think the Houston. Our headquarters is now in Houston. 206 00:13:01,960 --> 00:13:03,880 Speaker 1: I was just there a day ago. I was looking 207 00:13:03,880 --> 00:13:08,599 Speaker 1: for you. Oh by word. Oh yeah, we'll be broadcasting 208 00:13:08,640 --> 00:13:11,240 Speaker 1: from Slap Slapfish from now on as soon as he 209 00:13:11,280 --> 00:13:13,800 Speaker 1: gets here. But all right, now, moving on other things. 210 00:13:14,559 --> 00:13:17,200 Speaker 1: I don't think it's a mystery why you're moving to Houston. 211 00:13:17,320 --> 00:13:19,719 Speaker 1: But do you cares who elaborate while you're moving out 212 00:13:19,760 --> 00:13:23,280 Speaker 1: of California to Houston? Well, yeah, for all the reasons 213 00:13:23,320 --> 00:13:25,880 Speaker 1: we talk about on numerous occasions. But also we are 214 00:13:27,559 --> 00:13:29,760 Speaker 1: we brought on a new partner in the Houston market. 215 00:13:29,800 --> 00:13:32,280 Speaker 1: So my partner is part of the mac Hike organization, 216 00:13:32,320 --> 00:13:36,760 Speaker 1: and we'll put everything back in Houston. Good bill, all right, 217 00:13:37,360 --> 00:13:41,120 Speaker 1: supply chains, that's what we're talking about, and they're terrible 218 00:13:41,200 --> 00:13:44,320 Speaker 1: for everything, I mean everything. It's eggs are up twelve percent, 219 00:13:44,360 --> 00:13:48,040 Speaker 1: coffees up four percent. It's it's hurting people. How is 220 00:13:48,040 --> 00:13:54,000 Speaker 1: it specifically hurting your restaurant or restaurants in general, Well, overall, 221 00:13:54,040 --> 00:13:57,120 Speaker 1: all restaurants are facing the same issue, right from paper goods, 222 00:13:57,160 --> 00:14:00,840 Speaker 1: the chemicals, to oil, to dry goods, parish goals, non perishables. 223 00:14:01,000 --> 00:14:03,640 Speaker 1: Specifically for seafood. What you're seeing now is that restaurants 224 00:14:03,640 --> 00:14:06,600 Speaker 1: are actually removing seafood all together from their menus, and 225 00:14:06,840 --> 00:14:09,400 Speaker 1: that being the backbone of our business, it just further 226 00:14:09,480 --> 00:14:12,719 Speaker 1: puts pressure on the conversation related to a how much 227 00:14:12,720 --> 00:14:15,600 Speaker 1: we import. Eighty plus percenty of seafood in the United 228 00:14:15,600 --> 00:14:18,080 Speaker 1: States is imported, So that's why we've got so many 229 00:14:18,080 --> 00:14:21,320 Speaker 1: issues specific to that particular commodity. But what we're seeing 230 00:14:21,400 --> 00:14:24,280 Speaker 1: isn't just related to the price of goods or the 231 00:14:24,360 --> 00:14:27,280 Speaker 1: lack of supply is not a demand issue, right, So 232 00:14:27,520 --> 00:14:30,400 Speaker 1: this idea that the demand that's creating pressure on the 233 00:14:30,400 --> 00:14:34,080 Speaker 1: supply is one false because we still have people curled 234 00:14:34,160 --> 00:14:36,440 Speaker 1: up under their sheets here in California, afraid to leave 235 00:14:36,480 --> 00:14:39,360 Speaker 1: their doors. We're not seeing demand on the restaurant side 236 00:14:39,360 --> 00:14:42,200 Speaker 1: of things. Demand might be higher amongst things like Amazon, 237 00:14:42,280 --> 00:14:44,840 Speaker 1: door Dash and any of these Silicon Valley companies that 238 00:14:44,880 --> 00:14:48,720 Speaker 1: have totally stripped out Main Street. But it is strictly 239 00:14:48,760 --> 00:14:52,080 Speaker 1: an issue of the inability to get products here by 240 00:14:52,160 --> 00:14:55,240 Speaker 1: virtue of a poorly run supply chain, in addition to 241 00:14:55,320 --> 00:14:58,600 Speaker 1: the labor woes and then the regulations. You see it everywhere. 242 00:14:58,600 --> 00:15:01,040 Speaker 1: These regulations are piling up in the background. Then they're 243 00:15:01,080 --> 00:15:04,280 Speaker 1: creating these barriers that are just that many more impeded, 244 00:15:04,480 --> 00:15:09,760 Speaker 1: you know, that much more sludge in the pipeline, preventing 245 00:15:09,840 --> 00:15:14,320 Speaker 1: us from getting the products that we need to operate. Okay, 246 00:15:14,880 --> 00:15:16,960 Speaker 1: I want to pause on the seafood thing from moments. 247 00:15:17,000 --> 00:15:18,680 Speaker 1: I think a lot of people will be shocked by 248 00:15:18,720 --> 00:15:22,400 Speaker 1: that we import eighty percent of our seafood. Now, I'm 249 00:15:22,400 --> 00:15:26,040 Speaker 1: not a restaurant tour certainly, and I'm definitely not an oceanographer, 250 00:15:26,120 --> 00:15:29,000 Speaker 1: but I have seen like a map of the United 251 00:15:29,040 --> 00:15:31,000 Speaker 1: States of America and it seems like we have a 252 00:15:31,040 --> 00:15:34,680 Speaker 1: couple of gigantic oceans on each coast. Why are we 253 00:15:34,720 --> 00:15:38,480 Speaker 1: importing eighty percent of our seafood? So that's a question. 254 00:15:38,520 --> 00:15:40,480 Speaker 1: And the funny thing is that just shows your brilliance 255 00:15:40,600 --> 00:15:43,360 Speaker 1: right there, because most people don't realize that the Exclusive 256 00:15:43,360 --> 00:15:46,080 Speaker 1: Economic Zone the EES, which is two hundred miles off 257 00:15:46,080 --> 00:15:49,440 Speaker 1: the coast of any countries. We own the majority of 258 00:15:49,440 --> 00:15:52,200 Speaker 1: the ocean by virtue of that coastline, just like you say. 259 00:15:52,480 --> 00:15:57,760 Speaker 1: But instead of us actually properly you know, bit farming, aquaculture, 260 00:15:58,200 --> 00:16:01,840 Speaker 1: or for that matter, just deeping up our wild capture fisheries, 261 00:16:02,040 --> 00:16:04,320 Speaker 1: we import it all from China, and the fish that 262 00:16:04,320 --> 00:16:06,360 Speaker 1: we do catch in the United States we ship to 263 00:16:06,480 --> 00:16:10,640 Speaker 1: China or Russia a process, or Korea or Indonesia to process, 264 00:16:10,680 --> 00:16:12,680 Speaker 1: and then we buy it back from them because in 265 00:16:12,720 --> 00:16:14,760 Speaker 1: those countries they don't deal with the labor issues and 266 00:16:14,800 --> 00:16:16,440 Speaker 1: the unions that we deal with you, they don't have 267 00:16:16,520 --> 00:16:20,080 Speaker 1: the regulations in play. So and the funny thing is 268 00:16:20,080 --> 00:16:23,400 Speaker 1: we're the only country without an actual framework for open 269 00:16:23,480 --> 00:16:26,320 Speaker 1: ocean farming, which is one of the most energy efficient, 270 00:16:26,640 --> 00:16:29,240 Speaker 1: forward thinking ways that we can create high quality protein 271 00:16:29,280 --> 00:16:31,800 Speaker 1: at a low cost. So instead of us doing it, 272 00:16:31,840 --> 00:16:34,120 Speaker 1: because you've got cr Club, Green Peace, you've got all 273 00:16:34,160 --> 00:16:38,360 Speaker 1: these agencies that are boycotting and these activists that are saying, no, 274 00:16:38,440 --> 00:16:40,640 Speaker 1: there's no way we're going to farm in our oceans. Instead, 275 00:16:40,680 --> 00:16:42,920 Speaker 1: we buy it from places like China, where not only 276 00:16:42,920 --> 00:16:44,520 Speaker 1: do they farm in their oceans, but they're treating it 277 00:16:44,560 --> 00:16:47,320 Speaker 1: with antibiotic and chemicals of malchite green. So we're just 278 00:16:47,440 --> 00:16:49,320 Speaker 1: importing the crap that we're saying we don't want to 279 00:16:49,320 --> 00:16:52,360 Speaker 1: grow in our oceans. And you know, it's just another 280 00:16:52,400 --> 00:16:56,320 Speaker 1: way that we have gotten in our own, our own 281 00:16:56,400 --> 00:16:59,040 Speaker 1: way when it comes to progress and seafood, I think 282 00:16:59,120 --> 00:17:02,120 Speaker 1: is one of the huge oil and find oil and 283 00:17:02,200 --> 00:17:07,119 Speaker 1: automobiles the third largest trade deficit of seafood. Can you 284 00:17:07,200 --> 00:17:09,760 Speaker 1: explain We talked a little bit earlier about you're moving 285 00:17:09,760 --> 00:17:12,639 Speaker 1: your restaurant to Texas and whatnot, But in what ways 286 00:17:12,720 --> 00:17:15,440 Speaker 1: does a place like California, because I'm always encouraging people 287 00:17:15,480 --> 00:17:16,919 Speaker 1: to move to a red state, and what ways do 288 00:17:17,040 --> 00:17:20,320 Speaker 1: they hurt you? Do they throw roadblocks in front of 289 00:17:20,320 --> 00:17:22,160 Speaker 1: what you're trying to do as a small business owner, 290 00:17:22,200 --> 00:17:25,440 Speaker 1: as a restaurant owner. Well, why don't I use the 291 00:17:25,520 --> 00:17:27,960 Speaker 1: example of how I started Slapfish. So I started Slapfish 292 00:17:28,000 --> 00:17:30,240 Speaker 1: in two eleven as a food truck. There were none 293 00:17:30,240 --> 00:17:32,720 Speaker 1: of these kind of gourmet food trucks out there, and 294 00:17:33,280 --> 00:17:35,359 Speaker 1: there was maybe like one or two, right, So the 295 00:17:35,400 --> 00:17:37,680 Speaker 1: first thing I realized was I could quickly get in 296 00:17:37,880 --> 00:17:40,080 Speaker 1: and drive around in one of these catering trucks that 297 00:17:40,119 --> 00:17:42,920 Speaker 1: everybody thought was just flipping tacos to the construction guys, 298 00:17:43,119 --> 00:17:45,160 Speaker 1: and I could avoid most of the regulations. So when 299 00:17:45,160 --> 00:17:47,159 Speaker 1: I got in, I was paying like two hundred dollars 300 00:17:47,160 --> 00:17:49,040 Speaker 1: a month and kind of overhead for the city and 301 00:17:49,119 --> 00:17:51,840 Speaker 1: the health Department be slinging fish tacos and lobster rolls 302 00:17:51,840 --> 00:17:54,680 Speaker 1: off of a food truck. I left. Eight months later, 303 00:17:54,720 --> 00:17:56,560 Speaker 1: I went from one to four food trucks. I left. 304 00:17:56,560 --> 00:17:58,320 Speaker 1: I got out of the food truck game before I 305 00:17:58,400 --> 00:18:02,040 Speaker 1: opened my first restaurant because at that time, eight months later, 306 00:18:02,280 --> 00:18:04,439 Speaker 1: the government caught up. So many people started doing this. 307 00:18:04,520 --> 00:18:07,040 Speaker 1: It was four thousand dollars a month and two hundred 308 00:18:07,040 --> 00:18:08,879 Speaker 1: dollars a month in a matter of eight months. And 309 00:18:09,000 --> 00:18:11,920 Speaker 1: that came in the form of California Coastal Commission fees, 310 00:18:12,000 --> 00:18:15,280 Speaker 1: environmental fees, health department fees. You name it right. So 311 00:18:15,320 --> 00:18:17,800 Speaker 1: that's just one example right there. I got out quickly. 312 00:18:17,800 --> 00:18:19,800 Speaker 1: Everybody asked me, now, hey, I want to start my 313 00:18:19,840 --> 00:18:21,920 Speaker 1: own restaurant company by starting a food truck. I want 314 00:18:21,920 --> 00:18:23,119 Speaker 1: to do the same thing you did. I was like, 315 00:18:23,280 --> 00:18:25,119 Speaker 1: the window is closed. You got to get in before 316 00:18:25,119 --> 00:18:27,320 Speaker 1: the government realizes that they need to stick their hand 317 00:18:27,320 --> 00:18:29,840 Speaker 1: in that pocket. They're now trying to ban the use 318 00:18:29,880 --> 00:18:33,400 Speaker 1: of natural gas in commercial and residential setting in all 319 00:18:33,440 --> 00:18:37,280 Speaker 1: of California. They've already piloted this in guess where, Oakland, 320 00:18:37,359 --> 00:18:40,800 Speaker 1: San Francisco, you name it. So what does this do? 321 00:18:40,920 --> 00:18:43,239 Speaker 1: This hurts the lower class, This hurts the poor, This 322 00:18:43,320 --> 00:18:46,560 Speaker 1: hurts those one off mom and pop's Chinese food restaurants 323 00:18:46,560 --> 00:18:49,240 Speaker 1: who now can't cook with an open firewalk They're gonna 324 00:18:49,359 --> 00:18:54,480 Speaker 1: be microwaving their low nine. That is just absolutely terrible. 325 00:18:54,480 --> 00:18:58,040 Speaker 1: All right, there's a new headline out IBM is partnering 326 00:18:58,080 --> 00:19:02,720 Speaker 1: with McDonald's tod I'm gonna have automated drive throughs. Now. 327 00:19:02,960 --> 00:19:05,879 Speaker 1: Some people who've had bad experiences with fast food workers 328 00:19:05,880 --> 00:19:08,520 Speaker 1: are going to applaud this. Some aren't. But it does 329 00:19:08,600 --> 00:19:11,679 Speaker 1: seem like chef As every restaurant owner I know, and 330 00:19:11,720 --> 00:19:13,240 Speaker 1: I know a lot of them has said, Jesse, I 331 00:19:13,320 --> 00:19:16,240 Speaker 1: can't find employees. It does seem like this is the 332 00:19:16,280 --> 00:19:21,760 Speaker 1: next thing, right, Yeah, of course that's gonna work. That 333 00:19:21,880 --> 00:19:24,679 Speaker 1: is the future of the restaurant industry. So to that 334 00:19:24,800 --> 00:19:27,560 Speaker 1: same point, and I'm aware of the McDonald's story, Buffalo 335 00:19:27,600 --> 00:19:31,920 Speaker 1: Wild Wings just introduced their chicken cooking robot in many 336 00:19:31,960 --> 00:19:34,199 Speaker 1: of their corporate locations, and they're planning on rolling them 337 00:19:34,240 --> 00:19:36,680 Speaker 1: out across the entire enterprise. And what that robot does 338 00:19:36,800 --> 00:19:39,080 Speaker 1: is that it batters, and it fries chicken, It pulls 339 00:19:39,080 --> 00:19:40,800 Speaker 1: the chicken, it puts it in a heating trick. And 340 00:19:40,840 --> 00:19:43,040 Speaker 1: now you need one or two less well, actually, I 341 00:19:43,040 --> 00:19:45,560 Speaker 1: guess full find free less units labor in order to 342 00:19:45,640 --> 00:19:47,080 Speaker 1: run the line. You're going to see the same thing 343 00:19:47,160 --> 00:19:49,520 Speaker 1: in the front of the house, and we're gonna robotize everything. 344 00:19:49,520 --> 00:19:54,080 Speaker 1: It's all gonna be mechanized, all right, Chef, I have 345 00:19:54,119 --> 00:19:56,800 Speaker 1: to ask, Obviously, I joke around a lot about making 346 00:19:56,800 --> 00:19:58,800 Speaker 1: the best cheeseburger in the world. And while it does 347 00:19:58,880 --> 00:20:01,000 Speaker 1: taste good, I am not a chef and I don't 348 00:20:01,040 --> 00:20:03,280 Speaker 1: know how to do anything else in the kitchen. But you, 349 00:20:03,359 --> 00:20:07,080 Speaker 1: of course have seen my cheeseburger recipe. Give it to me, Chef, 350 00:20:07,080 --> 00:20:09,160 Speaker 1: How bad is it? What's wrong? Tell me what's wrong 351 00:20:09,200 --> 00:20:10,679 Speaker 1: with it? I know it tastes good, but what am 352 00:20:10,680 --> 00:20:14,320 Speaker 1: I doing wrong? No, No, this is the perfect burger recipe. 353 00:20:14,400 --> 00:20:17,640 Speaker 1: So the only thing I would say about this burger recipe, right, 354 00:20:17,800 --> 00:20:20,159 Speaker 1: is for the people that are listening and watching, is 355 00:20:20,200 --> 00:20:24,280 Speaker 1: that if you suffer from having your meat shrink, I'll 356 00:20:24,359 --> 00:20:26,199 Speaker 1: leave a moment of silence there where it kind of 357 00:20:26,200 --> 00:20:28,399 Speaker 1: boils up in the center and then the cheese slip 358 00:20:28,480 --> 00:20:31,200 Speaker 1: out because of that, If you actually start by indenting 359 00:20:31,240 --> 00:20:33,600 Speaker 1: the center of the burger, instead of it coming to 360 00:20:33,680 --> 00:20:36,160 Speaker 1: a bubble, it will actually just come to perfect level 361 00:20:36,359 --> 00:20:39,440 Speaker 1: and you can get that even distribution of products across 362 00:20:39,520 --> 00:20:44,240 Speaker 1: the burger itself. Otherwise perfect recipe. I never knew that 363 00:20:44,280 --> 00:20:46,800 Speaker 1: I've made this thing a thousand times. I've never made 364 00:20:46,840 --> 00:20:49,240 Speaker 1: a little little indent in the center of a tag 365 00:20:49,400 --> 00:20:52,120 Speaker 1: on it. Thank you, chef, Chef Andrew Gruel. The restaurant 366 00:20:52,200 --> 00:20:55,480 Speaker 1: is Slapfish Goat enjoy a Californians. Why you can, because 367 00:20:55,480 --> 00:21:01,680 Speaker 1: it's coming to me now, appreciate you, Thank you. How 368 00:21:01,680 --> 00:21:04,359 Speaker 1: about that a little indent in the middle. See, that's 369 00:21:04,359 --> 00:21:07,119 Speaker 1: why you gotta have the pros on. Look. Still an 370 00:21:07,119 --> 00:21:10,119 Speaker 1: amazing burger, right, but now I get a more even cheese. 371 00:21:10,560 --> 00:21:14,720 Speaker 1: All right? We have Kevin Kylie. He's also in California, 372 00:21:14,760 --> 00:21:30,120 Speaker 1: and he's also frustrated. Next, hang on joining me now, 373 00:21:30,240 --> 00:21:33,879 Speaker 1: Kevin Kylie. He is a Republican California Assemblyman. He is 374 00:21:33,920 --> 00:21:37,639 Speaker 1: also the author of a book, Recall Newsom, The Case 375 00:21:37,760 --> 00:21:41,160 Speaker 1: against America's Most Corrupt Governor. I don't know that there's 376 00:21:41,160 --> 00:21:46,399 Speaker 1: any debate about that. First of all, California, you're a 377 00:21:46,400 --> 00:21:49,600 Speaker 1: Republican there, obviously a popular one, but still a Republican 378 00:21:49,640 --> 00:21:51,439 Speaker 1: in the belly of the beast. What is it like 379 00:21:51,600 --> 00:21:54,880 Speaker 1: to be surrounded at all times by policies you consider 380 00:21:54,960 --> 00:21:59,240 Speaker 1: to be insane. Well, it's not good because it has 381 00:21:59,280 --> 00:22:03,160 Speaker 1: such a negative effect on my constituents and all Californians. 382 00:22:03,200 --> 00:22:05,920 Speaker 1: I mean, when you look at what has happened in California, 383 00:22:05,920 --> 00:22:08,040 Speaker 1: in the state that everyone used to want to come to, 384 00:22:08,040 --> 00:22:11,560 Speaker 1: where you sort of the American dream was fully realized, 385 00:22:12,000 --> 00:22:14,440 Speaker 1: it's now the state that everyone seemingly wants to leave. 386 00:22:14,640 --> 00:22:16,719 Speaker 1: Last year, for the first time in California is one 387 00:22:16,760 --> 00:22:20,159 Speaker 1: hundred and seventy year history. Our population declined by one 388 00:22:20,200 --> 00:22:23,000 Speaker 1: hundred and eighty two thousand people, and so we've been 389 00:22:23,000 --> 00:22:26,560 Speaker 1: on this downward spiral for quite some time. But Gavin Newsom, 390 00:22:26,600 --> 00:22:31,040 Speaker 1: through his corrupt and incompetent management of our state, especially 391 00:22:31,119 --> 00:22:34,160 Speaker 1: during COVID nineteen, has really brought us to a breaking point. 392 00:22:35,640 --> 00:22:39,840 Speaker 1: Can you explain to me what exactly he's done wrong? 393 00:22:39,920 --> 00:22:41,920 Speaker 1: That is so bad Because I saw that number of 394 00:22:42,200 --> 00:22:45,280 Speaker 1: people fleeing California, and I've lived in California before, I 395 00:22:45,280 --> 00:22:47,080 Speaker 1: spent a lot of time there. I realized that has 396 00:22:47,119 --> 00:22:49,800 Speaker 1: some crazy parts. But California, it is paradise. How do 397 00:22:49,920 --> 00:22:53,679 Speaker 1: you get people to leave paradise. Yeah, it's a great question. 398 00:22:53,760 --> 00:22:56,720 Speaker 1: You have to try really hard to make California a 399 00:22:56,760 --> 00:22:58,800 Speaker 1: place that people don't want to be because we have 400 00:22:58,840 --> 00:23:01,000 Speaker 1: so much to offer on those beautiful places in the 401 00:23:01,000 --> 00:23:04,160 Speaker 1: whole world. And yet you have people who have lived 402 00:23:04,400 --> 00:23:06,399 Speaker 1: here their entire lives, who have this family, have been 403 00:23:06,440 --> 00:23:09,200 Speaker 1: here for generations, who feel like they have no choice 404 00:23:09,800 --> 00:23:11,800 Speaker 1: but to leave. You know, we have the highest poverty 405 00:23:11,880 --> 00:23:14,920 Speaker 1: rates in the United States. We have the most homelessness 406 00:23:14,960 --> 00:23:18,680 Speaker 1: by far. In fact, our unsheltered homeless population is nine 407 00:23:18,720 --> 00:23:21,760 Speaker 1: times larger than the next closest state. That's gotten much 408 00:23:21,760 --> 00:23:25,080 Speaker 1: worse under Gavin Newsom. We have just about the worst 409 00:23:25,520 --> 00:23:28,480 Speaker 1: public school system in the country. And during COVID nineteen, 410 00:23:28,520 --> 00:23:31,119 Speaker 1: Gavin Newsom has put all of these problems on steroids. 411 00:23:31,160 --> 00:23:33,400 Speaker 1: He shut down our schools longer than in the state. 412 00:23:33,640 --> 00:23:35,920 Speaker 1: We had the harshest business blockdowns we had the worst 413 00:23:36,000 --> 00:23:38,760 Speaker 1: church blockdowns, and now we're seeing the highest level of 414 00:23:38,800 --> 00:23:41,520 Speaker 1: coersion and control when it comes to mass mandates of 415 00:23:41,600 --> 00:23:47,160 Speaker 1: vaccine mandates, vaccine passports. And yet California also as middling 416 00:23:47,160 --> 00:23:50,040 Speaker 1: public health outcomes. Other states that have actually, you know, 417 00:23:50,440 --> 00:23:54,160 Speaker 1: provided for some measure of freedom and trusted in their 418 00:23:54,160 --> 00:23:59,320 Speaker 1: citizens have done better from a public health perspective as well. 419 00:23:59,359 --> 00:24:00,920 Speaker 1: I do have to ask, first of all, I want 420 00:24:00,920 --> 00:24:02,800 Speaker 1: to play this little bit for you about Joe Biden 421 00:24:02,840 --> 00:24:08,160 Speaker 1: because we're gonna talk about this Trump. I love this one. 422 00:24:08,880 --> 00:24:11,480 Speaker 1: Trump likes to boast the single best measure of the 423 00:24:11,520 --> 00:24:16,000 Speaker 1: economy is a stock market. I never thought that. Well, 424 00:24:16,040 --> 00:24:19,080 Speaker 1: if that's true, take a look at the stock market now. 425 00:24:19,400 --> 00:24:22,680 Speaker 1: It's higher than it ever been. I guess it said, 426 00:24:22,720 --> 00:24:26,960 Speaker 1: I don't feeling well. It is higher than it's ever been. 427 00:24:27,800 --> 00:24:31,000 Speaker 1: Not only that, more people working today than just before 428 00:24:31,040 --> 00:24:34,840 Speaker 1: the pandemic started, how soul wealth is up, people are 429 00:24:34,880 --> 00:24:38,480 Speaker 1: buying more things, Manufacturing is up. We're on the move, 430 00:24:38,600 --> 00:24:40,720 Speaker 1: but we're on the right track. We got more to do. 431 00:24:41,680 --> 00:24:44,239 Speaker 1: So if you're looking for someone it's going to keep 432 00:24:44,280 --> 00:24:47,080 Speaker 1: your economy going and growing. The man behind me is 433 00:24:47,119 --> 00:24:53,280 Speaker 1: the guy to get it. Done. The economy is doing well, 434 00:24:53,359 --> 00:24:55,720 Speaker 1: haven't you heard, Kevin. I mean, I'm looking off the 435 00:24:55,800 --> 00:24:58,520 Speaker 1: coast of California at some pictures in video, and it 436 00:24:58,640 --> 00:25:02,919 Speaker 1: doesn't look like it's going that well. No, not at all, 437 00:25:03,080 --> 00:25:05,280 Speaker 1: And that reminds me a lot of sort of the 438 00:25:05,359 --> 00:25:08,280 Speaker 1: spin that Gavin Newsom uses. He tries to cite California's 439 00:25:08,359 --> 00:25:11,720 Speaker 1: GDP or like the number of IPOs and somehow use 440 00:25:11,800 --> 00:25:14,440 Speaker 1: that as evidence that California is doing great. Basically, what 441 00:25:14,560 --> 00:25:17,440 Speaker 1: he's saying is that some tech billionaires have done really well, 442 00:25:17,480 --> 00:25:20,280 Speaker 1: and indeed they have done well during the COVID shutdown. 443 00:25:20,440 --> 00:25:22,919 Speaker 1: So let's ignore the fact that millions of Californians are 444 00:25:22,960 --> 00:25:25,240 Speaker 1: living in poverty, that it's almost impossible to buy a 445 00:25:25,320 --> 00:25:28,159 Speaker 1: house here, you know, even if you work hard and 446 00:25:28,320 --> 00:25:31,639 Speaker 1: do everything right, That our streets are utterly deteriorating, the 447 00:25:31,760 --> 00:25:34,640 Speaker 1: crime is going up across the state. Let's ignore all 448 00:25:34,680 --> 00:25:37,480 Speaker 1: of that because some tech billionaires are doing really well. 449 00:25:37,520 --> 00:25:40,119 Speaker 1: What the numbers actually say is that California right now 450 00:25:40,240 --> 00:25:43,160 Speaker 1: has the highest unemployment in the United States seven point 451 00:25:43,200 --> 00:25:46,480 Speaker 1: five percent. It's barely budged all year, and tellingly, just 452 00:25:46,560 --> 00:25:48,800 Speaker 1: a couple of days ago, we had an oversight hearing 453 00:25:48,880 --> 00:25:52,160 Speaker 1: for Newsom's unemployment director, and I asked her, I said, 454 00:25:52,280 --> 00:25:54,080 Speaker 1: why do you think it is that California has the 455 00:25:54,160 --> 00:25:56,840 Speaker 1: highest unemployment in the country. She couldn't give me a 456 00:25:56,920 --> 00:25:59,360 Speaker 1: reason and said, instead she would put a research team 457 00:25:59,440 --> 00:26:03,480 Speaker 1: on it. Can do it. Okay, they're gonna look into it. 458 00:26:03,560 --> 00:26:05,600 Speaker 1: I love when they do that. Well, let me circle back. 459 00:26:05,720 --> 00:26:10,800 Speaker 1: I'll circle back with you right. Well, what specifically has 460 00:26:10,880 --> 00:26:14,120 Speaker 1: Gavin Knewsom done to make the supply chain problem better 461 00:26:14,400 --> 00:26:17,199 Speaker 1: or worse? I mean, I believe it's forty percent. That's 462 00:26:17,240 --> 00:26:19,520 Speaker 1: the amount of goods coming in off those California ports, 463 00:26:19,640 --> 00:26:23,040 Speaker 1: forty percent of America's goods. We need those goods coming in. 464 00:26:23,760 --> 00:26:27,120 Speaker 1: Is he helping? Is he hurting? Why aren't they coming in? Oh? 465 00:26:27,200 --> 00:26:29,520 Speaker 1: He's hurting. And by the way, the governor is now 466 00:26:29,680 --> 00:26:33,760 Speaker 1: bet setting for Blasgow to participate in this UN Climate 467 00:26:33,920 --> 00:26:37,639 Speaker 1: change conference. Has this supply chain crisis at our ports 468 00:26:38,080 --> 00:26:41,280 Speaker 1: is crippling the US economy? You know, California Sports, they're 469 00:26:41,320 --> 00:26:43,560 Speaker 1: finally saying they're going to start operating twenty four seven. 470 00:26:43,600 --> 00:26:46,800 Speaker 1: Floridas have been operating twenty four seven, But California has 471 00:26:46,840 --> 00:26:51,000 Speaker 1: put in place a number of completely needless and often 472 00:26:51,080 --> 00:26:54,600 Speaker 1: corrupt laws and regulations that have actually stood as a 473 00:26:54,680 --> 00:26:57,840 Speaker 1: barrier to the efficient operation of the ports. Industry leaders 474 00:26:57,880 --> 00:27:00,399 Speaker 1: have just put together a letter citing all of these 475 00:27:00,480 --> 00:27:03,320 Speaker 1: and saying that the governor needs to suspend them immediately, 476 00:27:03,800 --> 00:27:05,560 Speaker 1: and yet he has refused to do so. To give 477 00:27:05,600 --> 00:27:08,720 Speaker 1: you one very clear example, the governor signed a couple 478 00:27:08,720 --> 00:27:10,840 Speaker 1: of years ago a law known as A five would 479 00:27:10,920 --> 00:27:14,200 Speaker 1: essentially banned most forms of independent contracting. And that is 480 00:27:14,240 --> 00:27:17,879 Speaker 1: the main business model for truckers. Is there independent contractors. 481 00:27:17,920 --> 00:27:21,639 Speaker 1: And so this has led to a shortage of available 482 00:27:21,720 --> 00:27:24,480 Speaker 1: truck drivers, which has created major bottlenecks at the ports, 483 00:27:24,480 --> 00:27:28,080 Speaker 1: and yet the governor refuses to do anything to mitigate 484 00:27:28,160 --> 00:27:33,040 Speaker 1: or to reverse ab five. What is so, is that 485 00:27:33,200 --> 00:27:35,439 Speaker 1: the main reason for the supply chain problem. A lot 486 00:27:35,440 --> 00:27:37,360 Speaker 1: of people know there's a supply chain problem. They've seen 487 00:27:37,400 --> 00:27:40,320 Speaker 1: the pictures of the boats. They don't know why, though, 488 00:27:40,440 --> 00:27:42,359 Speaker 1: Was that the reason why there's not enough truckers? Is 489 00:27:42,359 --> 00:27:45,480 Speaker 1: that the main reason? That's one of the bottlenecks for sure. 490 00:27:45,560 --> 00:27:47,479 Speaker 1: And if you read this letter from the industry experts, 491 00:27:47,480 --> 00:27:50,639 Speaker 1: they go through all manner of regulations that affect various 492 00:27:50,760 --> 00:27:53,840 Speaker 1: different sort of links in the chain when it comes 493 00:27:53,880 --> 00:27:56,480 Speaker 1: to actually docking boats and then unloading them and delivering 494 00:27:56,560 --> 00:28:00,119 Speaker 1: them to consumers where you know, obviously there are some 495 00:28:00,240 --> 00:28:04,800 Speaker 1: pressures that are extraneous to California, but our state's ability 496 00:28:04,880 --> 00:28:09,479 Speaker 1: to deal with them expeditiously has been severely hamstrung because 497 00:28:09,680 --> 00:28:12,160 Speaker 1: of the laws and regulations that we have in place, 498 00:28:12,200 --> 00:28:14,960 Speaker 1: and yet the governor has not done anything about it 499 00:28:15,600 --> 00:28:19,000 Speaker 1: except for a huge sort of symbolic measures. And the 500 00:28:19,080 --> 00:28:21,480 Speaker 1: result of that is we now have as of yesterday, 501 00:28:21,920 --> 00:28:25,080 Speaker 1: sixty two ship container ships that are waiting off the 502 00:28:25,680 --> 00:28:28,240 Speaker 1: ports of Long Beach in Los Angeles. As you said, 503 00:28:28,240 --> 00:28:30,919 Speaker 1: that accounts for forty percent of goods that come from 504 00:28:30,960 --> 00:28:34,359 Speaker 1: foreign countries. We've the average wait time is now ten days. 505 00:28:34,440 --> 00:28:38,120 Speaker 1: You have reports of food shortages, even depression among sailors 506 00:28:38,600 --> 00:28:41,520 Speaker 1: on those ships, and indeed, it looks very likely that 507 00:28:41,640 --> 00:28:44,040 Speaker 1: one of them caused this big rupture of an oil 508 00:28:44,120 --> 00:28:48,959 Speaker 1: pipeline on October second that's led to major environmental damage. 509 00:28:48,960 --> 00:28:51,160 Speaker 1: And so I've called for the governor to call a 510 00:28:51,200 --> 00:28:54,400 Speaker 1: special session of the legislature to actually get us back 511 00:28:54,560 --> 00:28:57,640 Speaker 1: and you know, work on these issues to alleviate this 512 00:28:57,760 --> 00:29:00,440 Speaker 1: problem that is frippling not only our move with the 513 00:29:00,440 --> 00:29:02,880 Speaker 1: whole US economy. Instead, the governor and fourteen members of 514 00:29:02,880 --> 00:29:05,720 Speaker 1: the legislature are going to Glasgow for the UN Climate 515 00:29:05,840 --> 00:29:09,640 Speaker 1: Change Conference. Life is good when you're one of these 516 00:29:09,680 --> 00:29:12,719 Speaker 1: corrupt politicians. I do have to ask as you're there, 517 00:29:12,760 --> 00:29:16,520 Speaker 1: and I'm not surely they do want it to get better, 518 00:29:16,680 --> 00:29:19,000 Speaker 1: right Newsome and the Democrats. I mean, no matter what, 519 00:29:19,120 --> 00:29:21,720 Speaker 1: even if you're a card carrying communist, that doesn't look 520 00:29:21,800 --> 00:29:23,760 Speaker 1: good when you have a bunch of ships in a 521 00:29:23,880 --> 00:29:26,240 Speaker 1: parking lot right off your shore. They do want it 522 00:29:26,320 --> 00:29:29,600 Speaker 1: to get better, right, Well, you would think, but you know, 523 00:29:29,720 --> 00:29:31,720 Speaker 1: it doesn't look good when you have you know, over 524 00:29:31,760 --> 00:29:35,120 Speaker 1: a thousand people in La County dying on our streets everage, 525 00:29:35,640 --> 00:29:38,280 Speaker 1: and yet we're not taking any action there. It doesn't 526 00:29:38,280 --> 00:29:40,120 Speaker 1: look good when it costs over three quarters of a 527 00:29:40,200 --> 00:29:43,600 Speaker 1: million dollars to buy the average house in California. Doesn't 528 00:29:43,640 --> 00:29:48,640 Speaker 1: look good when you have this huge uptick in depression 529 00:29:48,720 --> 00:29:52,280 Speaker 1: and even suicide and mental health visits among America's kids 530 00:29:52,720 --> 00:29:55,440 Speaker 1: because of Newsom's corrupt school shutdowns. And yet none of 531 00:29:55,480 --> 00:29:58,240 Speaker 1: this has caused him to change course. And so I 532 00:29:58,360 --> 00:30:00,560 Speaker 1: think that the only thing that is going to cause 533 00:30:00,920 --> 00:30:03,440 Speaker 1: give us a chance to turn California around, is to 534 00:30:03,560 --> 00:30:06,200 Speaker 1: remove Gap and Newsom from office and to elect someone 535 00:30:06,280 --> 00:30:09,000 Speaker 1: who actually governed in the public interest and serve the 536 00:30:09,040 --> 00:30:13,760 Speaker 1: people of California. Yeah, let's hope that happens. Kevin, Kylie, 537 00:30:13,760 --> 00:30:16,880 Speaker 1: I hoping you'd rather go get him, thanks, my friend, 538 00:30:17,080 --> 00:30:21,080 Speaker 1: or to the chance to be on bet all right, 539 00:30:22,000 --> 00:30:36,760 Speaker 1: we'll be back. I was able to go to the 540 00:30:36,920 --> 00:30:41,040 Speaker 1: private portion with forty percent of all products coming into 541 00:30:41,080 --> 00:30:43,520 Speaker 1: the United States America on the West coast, go through 542 00:30:44,600 --> 00:30:49,080 Speaker 1: Los Angeles and uh and uh uh um, I'm what 543 00:30:49,160 --> 00:30:51,600 Speaker 1: am I doing here the Long Beach, Long Beach? Thank 544 00:30:51,640 --> 00:31:00,080 Speaker 1: you and joining me now, Peter saying, Peter, probably he 545 00:31:00,160 --> 00:31:02,440 Speaker 1: had a heart attack while he watched the President of 546 00:31:02,480 --> 00:31:05,080 Speaker 1: the United States speak like that. But he's a research 547 00:31:05,360 --> 00:31:09,280 Speaker 1: research fellow of economic policy at the Heritage Foundation. Peter, 548 00:31:09,880 --> 00:31:13,720 Speaker 1: I really would prefer if the president had some grasp 549 00:31:13,920 --> 00:31:16,720 Speaker 1: of how our economy works. It does, Eddie. Grasp would 550 00:31:16,720 --> 00:31:19,840 Speaker 1: be fine for me. It is part for the course 551 00:31:20,560 --> 00:31:22,880 Speaker 1: at this point, so he is true to form on 552 00:31:23,000 --> 00:31:31,120 Speaker 1: supply chains, his trademark incompetence, Peter, would you do me 553 00:31:31,200 --> 00:31:34,120 Speaker 1: a favor and pretend as if I'm five years old 554 00:31:34,240 --> 00:31:37,240 Speaker 1: and have never heard the word supply chain in my life. 555 00:31:37,320 --> 00:31:39,520 Speaker 1: What is a supply chain? All right? What a supply 556 00:31:39,720 --> 00:31:44,000 Speaker 1: chain is is it puts stuff on the shelf and 557 00:31:44,240 --> 00:31:47,200 Speaker 1: it gets stuff to factories. All right, So it's basically 558 00:31:47,360 --> 00:31:52,000 Speaker 1: the distribution of everything that our entire society runs on. 559 00:31:53,160 --> 00:31:56,680 Speaker 1: If the supply chain breaks, you start to see shortages, 560 00:31:57,640 --> 00:32:01,360 Speaker 1: you don't have stuff on shelves, are worried about Christmas. 561 00:32:02,080 --> 00:32:06,160 Speaker 1: There are actually some food products that are stocking out 562 00:32:06,400 --> 00:32:08,920 Speaker 1: or that are not available on shelves. Yeah, you've got 563 00:32:08,960 --> 00:32:11,640 Speaker 1: a shot of it. And then the other problem, of course, 564 00:32:11,960 --> 00:32:15,520 Speaker 1: is you can't get components or materials for factories, and 565 00:32:15,680 --> 00:32:19,200 Speaker 1: so those factories grind to a halt. So in normal 566 00:32:19,320 --> 00:32:21,880 Speaker 1: times we don't pay much attention to supply chains, but 567 00:32:22,000 --> 00:32:28,200 Speaker 1: they are really, really important. Okay, well, I'm gonna play 568 00:32:28,200 --> 00:32:31,880 Speaker 1: you this little clip of Democratic Rep. Jim Clyburn. This 569 00:32:32,080 --> 00:32:34,440 Speaker 1: is what he had to say about our problems. I 570 00:32:34,560 --> 00:32:37,080 Speaker 1: wish that we would spend a little more time, all 571 00:32:37,160 --> 00:32:41,320 Speaker 1: of us, educating people as to what the reader problems are. 572 00:32:42,360 --> 00:32:46,360 Speaker 1: These are not Jill Biden problems. These are global problems 573 00:32:46,640 --> 00:32:49,440 Speaker 1: that we should all address and not trying to put 574 00:32:49,520 --> 00:32:52,160 Speaker 1: the blame on the sitting president. I don't care who's 575 00:32:52,200 --> 00:32:55,480 Speaker 1: in the White House. They could not possibly do anything 576 00:32:55,680 --> 00:33:01,200 Speaker 1: about these issues that you and I are not talking about. Peter, 577 00:33:01,360 --> 00:33:05,480 Speaker 1: where's he right? Where's he wrong? He's completely wrong. The 578 00:33:06,000 --> 00:33:10,320 Speaker 1: source of there are really three sources here of the problem. 579 00:33:10,480 --> 00:33:13,680 Speaker 1: So one of them is that government regulations and rules 580 00:33:13,720 --> 00:33:16,160 Speaker 1: have made it hard for people to work. Number two, 581 00:33:16,240 --> 00:33:19,800 Speaker 1: they've been paying people not to work. And then number three, 582 00:33:19,880 --> 00:33:23,920 Speaker 1: you've got union choke holds on specifically the West coast 583 00:33:24,000 --> 00:33:27,240 Speaker 1: ports right so Porto Long Beach, Port of Los Angeles 584 00:33:27,600 --> 00:33:31,040 Speaker 1: are there right next to each other. They handle forty 585 00:33:31,080 --> 00:33:33,560 Speaker 1: percent of the containers coming into the country. Now, if 586 00:33:33,560 --> 00:33:39,680 Speaker 1: those containers don't in, everything else grinds to a halt. Right, Like, 587 00:33:39,840 --> 00:33:42,920 Speaker 1: for example, in order to ship food, right, most of 588 00:33:42,960 --> 00:33:44,680 Speaker 1: our food is made here in the US, but in 589 00:33:44,800 --> 00:33:47,640 Speaker 1: order to ship it, it's got to be packaged. That 590 00:33:47,960 --> 00:33:51,280 Speaker 1: packaging it's made of plastics and resins and things like this, 591 00:33:51,920 --> 00:33:55,440 Speaker 1: those have to fundamentally the materials have to come in 592 00:33:55,560 --> 00:33:58,479 Speaker 1: on containers. Right. There's a lot of products we make 593 00:33:58,520 --> 00:34:01,680 Speaker 1: where you've got dozens or hundreds of components, and if 594 00:34:01,720 --> 00:34:05,280 Speaker 1: any one of those components is missing. The whole thing 595 00:34:05,360 --> 00:34:07,680 Speaker 1: grinds to a halt. So it's not just a question 596 00:34:07,720 --> 00:34:11,720 Speaker 1: of what comes in on the containers, it's what those 597 00:34:12,000 --> 00:34:16,960 Speaker 1: components go into. And so if those aren't there, then 598 00:34:17,440 --> 00:34:20,520 Speaker 1: indeed you even get shelves clear to food. Right, So 599 00:34:20,600 --> 00:34:23,040 Speaker 1: you got those three problems. You've got the government rules, 600 00:34:23,640 --> 00:34:27,640 Speaker 1: specifically the worst rules. You've got a bunch of labor rules, 601 00:34:27,880 --> 00:34:30,680 Speaker 1: and then you've got environmental rules and those are really 602 00:34:30,760 --> 00:34:34,200 Speaker 1: worst in California, which is the center of the problem here. 603 00:34:34,280 --> 00:34:38,719 Speaker 1: That's backing everything else up. And those rules have combined 604 00:34:39,040 --> 00:34:42,239 Speaker 1: to take an enormous number of truckers off the road 605 00:34:42,320 --> 00:34:45,440 Speaker 1: in California. Right. So you put that together with the 606 00:34:45,640 --> 00:34:50,040 Speaker 1: union taking their time on processing imports, and the entire 607 00:34:50,160 --> 00:34:53,560 Speaker 1: thing is backing up. You've got railheads right for the 608 00:34:53,640 --> 00:34:57,520 Speaker 1: railroads with ten or twenty day weights. And then of course, 609 00:34:57,760 --> 00:34:59,640 Speaker 1: you know, because so many people have been paid to 610 00:34:59,680 --> 00:35:05,160 Speaker 1: stay home, right, that's warehouse workers, people who stock shelves 611 00:35:05,200 --> 00:35:09,080 Speaker 1: at the walmart. Right. So all across the country, you've 612 00:35:09,120 --> 00:35:13,080 Speaker 1: got those three problems, right, government rules, government's paying people 613 00:35:13,160 --> 00:35:16,400 Speaker 1: not to work, and then government privileging unions. And you 614 00:35:16,480 --> 00:35:19,719 Speaker 1: put those three together and things are breaking really all 615 00:35:19,760 --> 00:35:24,359 Speaker 1: over now. The government at this point has no plan, right. 616 00:35:25,040 --> 00:35:28,960 Speaker 1: Biden had some sort of gimmick the other day about 617 00:35:29,280 --> 00:35:33,799 Speaker 1: Port of La Hours Buddha Jedge. You know, he says, 618 00:35:33,880 --> 00:35:36,000 Speaker 1: now it's going to be years and years. He said, 619 00:35:37,760 --> 00:35:40,839 Speaker 1: when Biden notices the problem, he generally attacks the people 620 00:35:40,920 --> 00:35:46,560 Speaker 1: trying to fix it. Okay, so I've look, we're going 621 00:35:46,600 --> 00:35:48,800 Speaker 1: to come back to Biden and then for in just 622 00:35:48,920 --> 00:35:50,880 Speaker 1: a moment, I do have to ask this, Peter. We 623 00:35:51,040 --> 00:35:54,920 Speaker 1: have a big country, there's a lot of coslide. If 624 00:35:55,080 --> 00:35:59,080 Speaker 1: everything's getting bottled next because California sucks, why aren't we 625 00:35:59,160 --> 00:36:02,120 Speaker 1: shipping it to other license? Right? So the problem is 626 00:36:02,520 --> 00:36:07,120 Speaker 1: the size of ships that other ports can handle. Right. 627 00:36:07,239 --> 00:36:10,200 Speaker 1: So you know Florida Texas doesn't have the same kinds 628 00:36:10,239 --> 00:36:15,000 Speaker 1: of backups, but they can't handle the biggest ships. So 629 00:36:15,160 --> 00:36:17,759 Speaker 1: in theory, maybe you could transship it. You could take 630 00:36:17,800 --> 00:36:19,600 Speaker 1: it off one boat and put it on the other boat. 631 00:36:19,719 --> 00:36:22,560 Speaker 1: But then we've got a bunch of other government regulations 632 00:36:22,719 --> 00:36:25,360 Speaker 1: that make that really hard to do. You've got to 633 00:36:25,440 --> 00:36:29,760 Speaker 1: use particular types of ships. You've got emissions, new emissions 634 00:36:29,880 --> 00:36:34,600 Speaker 1: rules coming on owned ships. They every week, they've got 635 00:36:34,719 --> 00:36:36,560 Speaker 1: something new they want to ban, and a lot of 636 00:36:36,640 --> 00:36:43,360 Speaker 1: that stuff directly impacts the supply chain and slows it down. Peter. Okay, 637 00:36:43,800 --> 00:36:46,640 Speaker 1: now back to everything getting worse. And I don't want 638 00:36:46,680 --> 00:36:50,440 Speaker 1: to be a Debbi downer here, but everything does look terrible. 639 00:36:50,480 --> 00:36:53,399 Speaker 1: And if you have any understanding about supply chains at all, 640 00:36:53,480 --> 00:36:56,560 Speaker 1: you realize the backlog is getting worse. There's a huge glut, 641 00:36:56,680 --> 00:37:00,480 Speaker 1: and the glut is growing daily. Peter, where's this going 642 00:37:00,560 --> 00:37:02,800 Speaker 1: to go? I can't see this ending in anything, but 643 00:37:02,960 --> 00:37:06,279 Speaker 1: I mean a real economic disaster. Is that too far? 644 00:37:06,360 --> 00:37:09,120 Speaker 1: I don't want to be too far? Yeah, While the 645 00:37:09,400 --> 00:37:12,440 Speaker 1: solution really has got to look like what Trump did 646 00:37:12,600 --> 00:37:15,320 Speaker 1: right so early during COVID, we had a bunch of 647 00:37:15,800 --> 00:37:18,719 Speaker 1: disruptions and a lot of things, and Trump sat down 648 00:37:18,760 --> 00:37:21,080 Speaker 1: with the people who actually work in those fields and 649 00:37:21,120 --> 00:37:23,200 Speaker 1: he asked them, what do you need? What can I do? 650 00:37:23,680 --> 00:37:27,759 Speaker 1: And then he did it. Now, as this problem gets worse, 651 00:37:27,920 --> 00:37:29,799 Speaker 1: and it is getting worse. There was a brand new 652 00:37:29,880 --> 00:37:32,879 Speaker 1: record today for the number of ships stuck off LA. 653 00:37:33,520 --> 00:37:37,320 Speaker 1: It is getting worse. And as it gets worse, in theory, 654 00:37:37,480 --> 00:37:39,920 Speaker 1: Biden could sit down with those people, the people who 655 00:37:39,960 --> 00:37:43,520 Speaker 1: actually know the business, the logistics guys, the truckers could 656 00:37:43,560 --> 00:37:45,319 Speaker 1: sit down with them and ask them what they need, 657 00:37:45,400 --> 00:37:47,640 Speaker 1: and then he could get it done. Now, so far, 658 00:37:48,239 --> 00:37:52,160 Speaker 1: he hasn't done that, probably because that would require him 659 00:37:52,239 --> 00:37:55,319 Speaker 1: standing up to unions, and it would require him saying 660 00:37:55,440 --> 00:38:00,360 Speaker 1: no to activists, especially green activists. So until there's that 661 00:38:00,480 --> 00:38:04,759 Speaker 1: sense of crisis, it's probably not going to get any better. 662 00:38:05,120 --> 00:38:10,920 Speaker 1: And so far he hasn't shown any sense of crisis. Okay, 663 00:38:12,320 --> 00:38:14,239 Speaker 1: I'm going to switch gears here briefly because I have 664 00:38:14,320 --> 00:38:18,279 Speaker 1: to ask about Janet Yelling. Janet Yellen continues to go 665 00:38:18,440 --> 00:38:21,359 Speaker 1: on television and, at least to my eyes, come off 666 00:38:21,560 --> 00:38:25,560 Speaker 1: as a Bond movie villain. She's proposing a tax on 667 00:38:26,520 --> 00:38:30,680 Speaker 1: unrealized capital gains. Now, Peter, I went to community college. 668 00:38:30,760 --> 00:38:34,160 Speaker 1: But that is the increase in value on things I 669 00:38:34,360 --> 00:38:36,960 Speaker 1: own but haven't sold yet, right, Do I have that 670 00:38:37,040 --> 00:38:40,719 Speaker 1: about right? Yeah? Well, it looks an awful lot like 671 00:38:40,760 --> 00:38:44,319 Speaker 1: a wealth tax. And you know, poor Janet Yellen, I'm 672 00:38:44,360 --> 00:38:47,120 Speaker 1: sure she's spent all week coming up with clever wording. 673 00:38:47,200 --> 00:38:49,600 Speaker 1: And then Nancy Pelosi today came out and said, yeah, 674 00:38:49,600 --> 00:38:52,640 Speaker 1: we're probably gonna have a wealth tax. And of course 675 00:38:52,719 --> 00:38:54,960 Speaker 1: what that does is now when we come back to 676 00:38:55,080 --> 00:38:59,080 Speaker 1: the supply chain, You've got one more layer, right, because 677 00:38:59,200 --> 00:39:02,439 Speaker 1: a wealth tax goes after investors, it goes after people 678 00:39:02,520 --> 00:39:07,520 Speaker 1: who are putting down the money to actually expand capacity 679 00:39:07,680 --> 00:39:12,760 Speaker 1: or expand factory. So all this government does is hunt 680 00:39:13,400 --> 00:39:16,440 Speaker 1: the people who are trying to fix our problems. That's 681 00:39:16,440 --> 00:39:22,480 Speaker 1: all they know. Peter saying, Peter, thank you so much. Man. 682 00:39:22,520 --> 00:39:28,360 Speaker 1: I appreciate you, Thank you, Jesse. It will be interesting 683 00:39:28,480 --> 00:39:32,720 Speaker 1: to see how our economy reshapes itself in the coming 684 00:39:33,640 --> 00:39:37,640 Speaker 1: months years. I mean, like Peter just pointed out and 685 00:39:37,800 --> 00:39:40,720 Speaker 1: got a bag of chips. You can make the chips, 686 00:39:40,800 --> 00:39:43,919 Speaker 1: but you can't get the bag. You're not just gonna 687 00:39:43,960 --> 00:39:46,520 Speaker 1: shut down. You gotta figure something out, right, I don't know. 688 00:39:46,600 --> 00:39:48,640 Speaker 1: I need my chips, all right. We got our final 689 00:39:48,719 --> 00:40:08,040 Speaker 1: thoughts next. This crisis, this supply chain crisis we've been 690 00:40:08,080 --> 00:40:10,320 Speaker 1: talking about all nights to night on the show. I 691 00:40:10,440 --> 00:40:13,359 Speaker 1: want you to understand something. And I'm really not trying 692 00:40:13,400 --> 00:40:15,759 Speaker 1: to make anybody scared or panic, but I do want 693 00:40:15,760 --> 00:40:18,759 Speaker 1: you to understand something. It's not just that we have 694 00:40:18,920 --> 00:40:24,680 Speaker 1: a crisis now. It's that there is no sign, zero 695 00:40:25,200 --> 00:40:28,120 Speaker 1: that this is about to get better. No one's even 696 00:40:28,239 --> 00:40:32,239 Speaker 1: really trying to make it better. This only gets worse 697 00:40:32,360 --> 00:40:36,080 Speaker 1: from here, the backup of ships, the supply chain problems, 698 00:40:36,200 --> 00:40:38,680 Speaker 1: It gets worse from here. Now what am I saying? 699 00:40:38,680 --> 00:40:40,160 Speaker 1: Why am I saying this too? I'm not trying to 700 00:40:40,280 --> 00:40:47,000 Speaker 1: scare you. Doesn't hurt to adjust your expectations and your 701 00:40:47,080 --> 00:40:51,600 Speaker 1: behaviors based on this. A little bit doesn't mean except 702 00:40:51,719 --> 00:40:55,280 Speaker 1: having less, but it might mean have a little extra, 703 00:40:55,520 --> 00:40:57,080 Speaker 1: not a bunch. Don't go crazy. I know you're not 704 00:40:57,160 --> 00:41:00,359 Speaker 1: made of money. Have a little extra, maybe have an 705 00:41:00,400 --> 00:41:03,239 Speaker 1: extra pack of batteries, have an extra this, have an 706 00:41:03,320 --> 00:41:05,799 Speaker 1: extra that. I don't know what the future is going 707 00:41:05,840 --> 00:41:07,600 Speaker 1: to bring. I joke about it, but I'm actually not 708 00:41:07,719 --> 00:41:11,680 Speaker 1: an oracle, but probably got some rough times. All Right, 709 00:41:12,440 --> 00:41:13,120 Speaker 1: we'll do it again.