1 00:00:00,400 --> 00:00:03,280 Speaker 1: Man, these foods out here quoting Joey Crack out here 2 00:00:03,760 --> 00:00:07,560 Speaker 1: sounding like fat Joe talking about yesterday's price. It's not 3 00:00:07,760 --> 00:00:12,560 Speaker 1: today's price. The price just went up. You sound like 4 00:00:12,600 --> 00:00:19,600 Speaker 1: your gas station right now. Oh lord, let's talk about 5 00:00:19,600 --> 00:00:24,520 Speaker 1: this gas but let's talk about overall inflation, hood politics, y'all. 6 00:00:32,960 --> 00:00:36,440 Speaker 1: What's up everybody? Yeah saying I don't know why y'all 7 00:00:36,440 --> 00:00:40,280 Speaker 1: ain't bought no scooters. Everybody out here with electric cars 8 00:00:40,280 --> 00:00:45,600 Speaker 1: out here brunching looking at you, y'all like, uh, they're 9 00:00:45,600 --> 00:00:47,640 Speaker 1: looking at me too. I got a hybrid, but still 10 00:00:47,720 --> 00:00:53,760 Speaker 1: because uh yo, I think sometimes we're yelling at the 11 00:00:53,760 --> 00:00:57,640 Speaker 1: wrong people over this day. So today I want to 12 00:00:58,760 --> 00:01:03,120 Speaker 1: get into some economic stuff. I want to talk about inflation. 13 00:01:03,560 --> 00:01:08,120 Speaker 1: I want to talk about interest rates. Uh actually who 14 00:01:08,480 --> 00:01:15,480 Speaker 1: and what is responsible for this uh outlandish gas prices. 15 00:01:15,520 --> 00:01:17,640 Speaker 1: Because there's a lot of like, there's a lot of 16 00:01:17,640 --> 00:01:20,679 Speaker 1: hot takes that are very lukewarm. There's a lot of 17 00:01:20,720 --> 00:01:23,679 Speaker 1: just ice cold takes where it's like you don't know 18 00:01:24,000 --> 00:01:26,320 Speaker 1: what you're talking about. There are a lot of funny 19 00:01:26,360 --> 00:01:28,399 Speaker 1: takes where it's like, oh, my girl wanted me to 20 00:01:28,400 --> 00:01:31,000 Speaker 1: take it to like a really expensive place and then 21 00:01:31,000 --> 00:01:32,959 Speaker 1: he put it on a blindfold and then they get 22 00:01:33,000 --> 00:01:35,200 Speaker 1: out at the gas station and it's like, look, I'm 23 00:01:35,200 --> 00:01:38,920 Speaker 1: taking you somewhere expensive. Yeah, but I think we don't 24 00:01:38,959 --> 00:01:43,000 Speaker 1: have a complete understanding of really how these prices are set. Like, 25 00:01:43,160 --> 00:01:45,800 Speaker 1: I don't know what in us thinks that you know, 26 00:01:45,880 --> 00:01:48,360 Speaker 1: you you're yelling at the president, like the president can 27 00:01:49,000 --> 00:01:53,200 Speaker 1: I mean, everybody's like the president American president don't controls 28 00:01:53,240 --> 00:01:56,680 Speaker 1: everybody's price, the price all over the dog all world. 29 00:01:56,800 --> 00:01:58,880 Speaker 1: But anyway, I'm getting ahead of myself. Ken. You got 30 00:01:58,880 --> 00:02:02,360 Speaker 1: a song on the two Pemple Butterfly record called how 31 00:02:02,480 --> 00:02:04,840 Speaker 1: Much a Dollar Cost? And he's basically talking about like 32 00:02:04,880 --> 00:02:07,160 Speaker 1: a dollar cost the price of your soul. That's kind 33 00:02:07,160 --> 00:02:09,920 Speaker 1: of the idea of the song. But I want to 34 00:02:09,919 --> 00:02:13,480 Speaker 1: talk to y'all like, literally, how much do a dollar cost? 35 00:02:14,000 --> 00:02:27,600 Speaker 1: We're gonna talk to a bunch of economics in this one. 36 00:02:28,600 --> 00:02:32,560 Speaker 1: Now check this out. Uh. When I was getting my 37 00:02:32,760 --> 00:02:37,639 Speaker 1: teaching credential for California to be able to teach high 38 00:02:37,680 --> 00:02:41,160 Speaker 1: school in social sciences, the third part of the credentialing 39 00:02:41,240 --> 00:02:43,919 Speaker 1: program to teach at the high school level was an 40 00:02:43,960 --> 00:02:47,079 Speaker 1: economics test, and his thing. I felt that about three 41 00:02:47,120 --> 00:02:49,400 Speaker 1: times and it's not because I think I've said this 42 00:02:49,440 --> 00:02:50,959 Speaker 1: before plenty of times. Not because I didn't know what 43 00:02:51,000 --> 00:02:52,520 Speaker 1: I was talking about. I didn't know how to talk 44 00:02:52,560 --> 00:02:54,959 Speaker 1: about what I was talking about. Does that make sense? 45 00:02:55,080 --> 00:02:57,280 Speaker 1: I didn't understand these terms they was using it. For 46 00:02:57,320 --> 00:02:59,560 Speaker 1: some reason, my eyes would glaze over when food start 47 00:02:59,600 --> 00:03:03,639 Speaker 1: talking about inflation and and and and you know it, 48 00:03:04,000 --> 00:03:07,720 Speaker 1: stagflation and elasticity and you know what I'm saying, like 49 00:03:07,760 --> 00:03:10,200 Speaker 1: reading these charts, and like I would just I would 50 00:03:10,240 --> 00:03:12,440 Speaker 1: glaze over because I was like, dog, I just don't 51 00:03:12,480 --> 00:03:15,960 Speaker 1: get it. So I'm gonna teach you the way that 52 00:03:16,000 --> 00:03:18,960 Speaker 1: I taught myself. If you want to understand economics, we're 53 00:03:19,000 --> 00:03:21,400 Speaker 1: just gonna think of it as two things. The ice 54 00:03:21,440 --> 00:03:47,200 Speaker 1: cream truck or baseball cards. Now, y'all know, dollars are made, 55 00:03:47,240 --> 00:03:51,560 Speaker 1: they made up. They are worth whatever we say they worth. 56 00:03:52,360 --> 00:03:55,320 Speaker 1: It's no magic to it, ain't no formula. They're worth 57 00:03:55,360 --> 00:03:57,840 Speaker 1: whatever we say they're worth. How much the dollar cost 58 00:03:58,000 --> 00:04:00,200 Speaker 1: is how much it costs to print it, and what 59 00:04:00,360 --> 00:04:04,760 Speaker 1: it can get for you. And if there's more of them, 60 00:04:04,840 --> 00:04:08,200 Speaker 1: they're worth less. That's your baseball card, that's your comic, 61 00:04:08,240 --> 00:04:10,640 Speaker 1: But your Pokemon car you call whatever you want. If 62 00:04:10,640 --> 00:04:15,120 Speaker 1: it's too many of them, then they're not rare and 63 00:04:15,200 --> 00:04:17,920 Speaker 1: they're not worth that much. The ones that are worth 64 00:04:18,200 --> 00:04:20,560 Speaker 1: a lot are the ones you can't get your hands on. 65 00:04:20,920 --> 00:04:23,400 Speaker 1: That's why they cost a lot. So if there's not 66 00:04:23,640 --> 00:04:26,440 Speaker 1: a lot in circulation, that that means it's worth a lot. 67 00:04:26,480 --> 00:04:28,839 Speaker 1: If it's too much in circulation, that me ain't worth nothing. 68 00:04:29,160 --> 00:04:32,040 Speaker 1: That's why the FEDS be trying to regulate how many 69 00:04:32,080 --> 00:04:35,880 Speaker 1: dollars are in circulation. Now. Inflation work like this. Your 70 00:04:35,920 --> 00:04:38,920 Speaker 1: mamma give you twenty dollars for the allowance, right, you're lucky. 71 00:04:39,040 --> 00:04:40,960 Speaker 1: My mama mayn't give me no twenty dollars for no allowance. 72 00:04:41,040 --> 00:04:43,480 Speaker 1: But you go to the ice cream truck and you say, 73 00:04:43,560 --> 00:04:46,680 Speaker 1: I got five dollars. What can five dollars get me? Well, 74 00:04:46,680 --> 00:04:50,159 Speaker 1: what if tomorrow what five dollars can get you is 75 00:04:50,279 --> 00:04:53,200 Speaker 1: half of what it could get you today, And it's 76 00:04:53,240 --> 00:04:56,400 Speaker 1: not just the one candy you like, it's just everything 77 00:04:56,440 --> 00:04:58,880 Speaker 1: on the truck costs more. That means that dollar can't 78 00:04:58,880 --> 00:05:00,920 Speaker 1: get you what it you to be able to get you. 79 00:05:01,400 --> 00:05:04,960 Speaker 1: That's called inflation. The question is why are you just 80 00:05:04,960 --> 00:05:07,000 Speaker 1: gonna wake up in the morning and charge more that I 81 00:05:06,960 --> 00:05:08,920 Speaker 1: I mean, does it cost you more? A lot of 82 00:05:08,960 --> 00:05:12,480 Speaker 1: times it's that. Sometimes it's not that. Sometimes it's because 83 00:05:12,560 --> 00:05:15,320 Speaker 1: we know you'll buy it at whatever price we tell you. 84 00:05:15,839 --> 00:05:17,520 Speaker 1: And we're gonna get to the answers of all that 85 00:05:17,680 --> 00:05:21,400 Speaker 1: ultimately trying to understand what's happening with these gas prices 86 00:05:21,440 --> 00:05:23,359 Speaker 1: everybody talking about. But we got the latest thing that 87 00:05:23,400 --> 00:05:26,080 Speaker 1: it's just like the stuff just don't sit in a vacuum. 88 00:05:26,080 --> 00:05:28,279 Speaker 1: Like you gotta understand how all this stuff work and 89 00:05:28,320 --> 00:05:30,920 Speaker 1: who actually responsible. You could blame the president, but like 90 00:05:31,040 --> 00:05:33,960 Speaker 1: I mean, he only got a sprinkle sprinkles of blood 91 00:05:34,000 --> 00:05:36,200 Speaker 1: on his hand. You know what I'm saying any president. 92 00:05:36,240 --> 00:05:39,520 Speaker 1: It ain't never been one president's fault. But again I'm 93 00:05:39,520 --> 00:05:41,800 Speaker 1: getting ahead of myself, but let's get back to this up. 94 00:05:41,880 --> 00:05:44,160 Speaker 1: It's comparison with with with your mama and the ice 95 00:05:44,200 --> 00:05:46,279 Speaker 1: cream truck. You know. So if you go back to 96 00:05:46,320 --> 00:05:49,120 Speaker 1: your mama and you're like, yow dollars ain't cutting it. 97 00:05:49,480 --> 00:05:53,160 Speaker 1: I'm not being able to like cover what I used 98 00:05:53,200 --> 00:05:55,120 Speaker 1: to be able to cover tw dollars, your mama is like, 99 00:05:55,200 --> 00:05:57,400 Speaker 1: you better make that work. See, look, I come from 100 00:05:57,400 --> 00:06:00,960 Speaker 1: the generation you better make that work. Generation. Your mama, 101 00:06:00,960 --> 00:06:04,560 Speaker 1: send you to the stove with some money, and you're like, mine, 102 00:06:04,560 --> 00:06:06,480 Speaker 1: it ain't enough to get what I need and get 103 00:06:06,520 --> 00:06:08,240 Speaker 1: what you're asking for. She like, you better make it 104 00:06:08,360 --> 00:06:13,479 Speaker 1: enough and bring me back my change. Listen, your mama, 105 00:06:13,520 --> 00:06:16,279 Speaker 1: get listen if you're lucky enough to get some to 106 00:06:16,320 --> 00:06:18,560 Speaker 1: get an allowance, and she like, look, you gotta make 107 00:06:18,600 --> 00:06:22,000 Speaker 1: that work. And you like, my lunch costs more than 108 00:06:22,040 --> 00:06:24,279 Speaker 1: this now, like the snacks caused the bus, it costs 109 00:06:24,279 --> 00:06:26,120 Speaker 1: more than this. She like, you better make it work. 110 00:06:26,440 --> 00:06:30,160 Speaker 1: That's living wages. That's why we always mad about minimum 111 00:06:30,200 --> 00:06:32,599 Speaker 1: wage and cost the living. It's like, yo, you're not 112 00:06:32,760 --> 00:06:36,960 Speaker 1: paying me more even though it costs more to be here. 113 00:06:37,360 --> 00:06:39,880 Speaker 1: That's how that work. Your mom out here talking to 114 00:06:39,880 --> 00:06:42,479 Speaker 1: you like like she think you just out here bawling out. 115 00:06:42,560 --> 00:06:44,080 Speaker 1: You know what I'm saying. You're going to the lunch 116 00:06:44,279 --> 00:06:46,400 Speaker 1: You're going to the lunch line. You're buying all kind 117 00:06:46,400 --> 00:06:49,200 Speaker 1: of treats, all the snacks, all the cookies, and on 118 00:06:49,240 --> 00:06:51,240 Speaker 1: Tuesday you out of money. You're like, no, I'm trying 119 00:06:51,279 --> 00:06:55,960 Speaker 1: to tell you the stuff costs more. I don't know 120 00:06:56,000 --> 00:06:58,919 Speaker 1: what happened, It just costs more. So your allowance is 121 00:06:58,960 --> 00:07:01,320 Speaker 1: your living wages, and the cost of living is how 122 00:07:01,400 --> 00:07:03,720 Speaker 1: much lunch costs and the bus and everything. You got 123 00:07:03,760 --> 00:07:05,599 Speaker 1: people out here saying, well, you know, if you guys 124 00:07:05,600 --> 00:07:09,360 Speaker 1: weren't just buying so much avocado toast, you could probably 125 00:07:09,440 --> 00:07:11,720 Speaker 1: make It's like, nah, fam, you really think it's that simple. 126 00:07:11,840 --> 00:07:16,440 Speaker 1: You really think it's that simple. No, it's it's minimum 127 00:07:16,840 --> 00:07:22,240 Speaker 1: or or average wages for a job versus the cost 128 00:07:22,400 --> 00:07:27,600 Speaker 1: of living is called inflation. The dollar don't get me you. Now, 129 00:07:27,840 --> 00:07:30,880 Speaker 1: one would say, well, you know, I mean everything costs more, 130 00:07:30,920 --> 00:07:32,880 Speaker 1: but people are making more. You know, if it's like, 131 00:07:33,000 --> 00:07:36,000 Speaker 1: well gas was in the seventies, but you also made 132 00:07:36,080 --> 00:07:39,640 Speaker 1: enough to do that. Now that that would mean that 133 00:07:39,800 --> 00:07:44,120 Speaker 1: the cost of living and wages were growing at the 134 00:07:44,200 --> 00:07:48,880 Speaker 1: same rate. They just not. So that dollar can't get 135 00:07:48,960 --> 00:07:51,400 Speaker 1: you what it used to be able to get you. 136 00:07:51,440 --> 00:07:53,480 Speaker 1: It's not so much that like things just cost more. 137 00:07:53,960 --> 00:07:56,480 Speaker 1: It's the dollar doesn't get you what it used to 138 00:07:56,480 --> 00:08:00,160 Speaker 1: get you. That's inflation. Now, we got these p is 139 00:08:00,200 --> 00:08:02,440 Speaker 1: on the board, and at the end, I'm gonna give 140 00:08:02,480 --> 00:08:05,120 Speaker 1: you some actual numbers and percentages. So now that you 141 00:08:05,200 --> 00:08:07,000 Speaker 1: get the metaphor, let me cut it clean for you. 142 00:08:07,120 --> 00:08:10,600 Speaker 1: Is definition. So what is inflation. I'm quoting from the 143 00:08:10,640 --> 00:08:15,119 Speaker 1: State Policy Network dot org. It's a just some information stuff. 144 00:08:15,120 --> 00:08:17,800 Speaker 1: I mean, this stuff is easily googleble, but like sometimes 145 00:08:17,800 --> 00:08:19,720 Speaker 1: the terms don't even help you. So, like I said, 146 00:08:19,800 --> 00:08:22,120 Speaker 1: I failed economics. I knew all these terms, but I 147 00:08:22,160 --> 00:08:26,440 Speaker 1: ain't really get it. So here we go. Inflation is 148 00:08:26,640 --> 00:08:30,920 Speaker 1: an economic term to describe the situation where the prices 149 00:08:31,200 --> 00:08:35,079 Speaker 1: rise in the economy. It means goods and services are 150 00:08:35,120 --> 00:08:40,080 Speaker 1: becoming more expensive and your monthly paycheck won't buy as 151 00:08:40,160 --> 00:08:44,840 Speaker 1: much as it previously did for in other words, when 152 00:08:44,880 --> 00:08:50,840 Speaker 1: everything gets more expensive. Now as the question for why, 153 00:08:51,080 --> 00:08:54,760 Speaker 1: I mean this is why an economist is an actual job, 154 00:08:55,080 --> 00:08:59,400 Speaker 1: because it's complicated and everybody don't agree as to why 155 00:08:59,400 --> 00:09:02,520 Speaker 1: this happened. But for the sake of our discussion, I'm 156 00:09:02,520 --> 00:09:06,560 Speaker 1: gonna try to make it as rudimentary as possible. And again, 157 00:09:06,800 --> 00:09:09,000 Speaker 1: you know, it's probably economists that listen to this that 158 00:09:09,040 --> 00:09:11,600 Speaker 1: are gonna be like, now, prop it ain't that simple. 159 00:09:11,760 --> 00:09:14,560 Speaker 1: Or now I don't agree with this, dude, because I 160 00:09:14,559 --> 00:09:17,280 Speaker 1: think I may have said this before and was really 161 00:09:17,280 --> 00:09:19,920 Speaker 1: made clear when my wife got her PhD that even 162 00:09:20,000 --> 00:09:22,959 Speaker 1: knowledge has to be agreed on. She had a saying 163 00:09:23,000 --> 00:09:26,200 Speaker 1: in her pH d program that was like he or 164 00:09:26,280 --> 00:09:29,240 Speaker 1: she who has funding is right. So if you could 165 00:09:29,240 --> 00:09:32,520 Speaker 1: get your research funded and it make it into the books, 166 00:09:32,520 --> 00:09:34,720 Speaker 1: then you write, he who got funding is right. So 167 00:09:35,000 --> 00:09:37,559 Speaker 1: many people may disagree on this, but there's this o 168 00:09:37,720 --> 00:09:41,080 Speaker 1: g economists. His name was Milton Friedman, and again everybody 169 00:09:41,080 --> 00:09:43,680 Speaker 1: don't like him. I ain't gonna hold you here. Ronald 170 00:09:43,720 --> 00:09:46,120 Speaker 1: Reagan market thatcher type dude. You know what I'm saying. 171 00:09:46,160 --> 00:09:49,920 Speaker 1: So he'd be pretty conservative. So consider that as I'm 172 00:09:49,920 --> 00:09:51,880 Speaker 1: saying what I'm saying. But he's one way to do it. 173 00:09:51,960 --> 00:09:57,199 Speaker 1: And his argument is saying, it's pretty simple. It's inflation 174 00:09:57,280 --> 00:10:02,120 Speaker 1: happens because the money supplied rows more rapidly than the 175 00:10:02,200 --> 00:10:06,960 Speaker 1: goods and services produced. Because remember, we make money like 176 00:10:07,080 --> 00:10:10,040 Speaker 1: physically literally it's made. We're not on a gold standard 177 00:10:10,080 --> 00:10:13,840 Speaker 1: no more. They they pieces of They're cotton, pictures of 178 00:10:13,880 --> 00:10:18,280 Speaker 1: dead men, that's what they are. He says, Inflation itself 179 00:10:18,360 --> 00:10:21,680 Speaker 1: is a monetary phenomenon because if there's a finite amount 180 00:10:21,720 --> 00:10:23,199 Speaker 1: of stuff, that's why a lot of people get excited 181 00:10:23,200 --> 00:10:26,440 Speaker 1: about crypto because it's like there's only so many and 182 00:10:26,440 --> 00:10:28,960 Speaker 1: you could predict that because there's only so many in circulation. 183 00:10:29,120 --> 00:10:31,960 Speaker 1: You can't just like pump money into the system, because 184 00:10:32,000 --> 00:10:34,040 Speaker 1: it's got to be a thing. When we was on 185 00:10:34,080 --> 00:10:37,600 Speaker 1: a gold standard, a dollar meant this many ounces of gold, 186 00:10:37,679 --> 00:10:39,720 Speaker 1: and there was only so many ounces of gold, so 187 00:10:39,760 --> 00:10:41,960 Speaker 1: you could predict what was going on in the world 188 00:10:42,040 --> 00:10:43,599 Speaker 1: and how much there was and how much it was 189 00:10:43,600 --> 00:10:46,400 Speaker 1: gonna be worth, because there was only so much to 190 00:10:46,400 --> 00:10:50,000 Speaker 1: go around, right, That was the idea. But if if 191 00:10:50,040 --> 00:10:54,480 Speaker 1: it's just what we agree on, then as he says, 192 00:10:55,000 --> 00:10:58,680 Speaker 1: it's always in everywhere a result of too much money 193 00:10:58,840 --> 00:11:02,360 Speaker 1: for a more rapid increase in the quantity of money 194 00:11:02,840 --> 00:11:08,079 Speaker 1: than an output. Moreover, in the modern era, the important 195 00:11:08,080 --> 00:11:11,600 Speaker 1: next step is to recognize that today government's control the 196 00:11:11,679 --> 00:11:15,719 Speaker 1: quantity of money, so that as a result, inflation in 197 00:11:15,760 --> 00:11:19,440 Speaker 1: the United States is made in Washington and nowhere else. 198 00:11:20,000 --> 00:11:22,959 Speaker 1: So he arguing inflation is a self inflicted wound. It's 199 00:11:23,040 --> 00:11:26,720 Speaker 1: the government just you keep printing money, so you need 200 00:11:26,800 --> 00:11:28,640 Speaker 1: to stay out of the market. Now you get into 201 00:11:28,679 --> 00:11:31,160 Speaker 1: people talking about like free market economies, you know what 202 00:11:31,200 --> 00:11:34,160 Speaker 1: I'm saying, or kanzie in or whatever, like these other 203 00:11:34,240 --> 00:11:36,400 Speaker 1: theories that we ain't got time to get into. But 204 00:11:36,480 --> 00:11:39,800 Speaker 1: what he's saying is like inflation happens when you just 205 00:11:39,920 --> 00:11:42,480 Speaker 1: printing money all willy nilly and we ain't got the 206 00:11:42,480 --> 00:12:35,200 Speaker 1: product to push it, like you creating this problem. I 207 00:12:35,280 --> 00:12:38,560 Speaker 1: used to wonder about, like national debt, when you're just like, yeah, 208 00:12:38,559 --> 00:12:41,680 Speaker 1: this is we're four trillion dollars in debt, and it's 209 00:12:41,720 --> 00:12:45,400 Speaker 1: like that's not a real number, Like you're never gonna 210 00:12:45,480 --> 00:12:50,640 Speaker 1: pay that back. There's there isn't four trillion dollars. There don't, 211 00:12:50,679 --> 00:12:53,640 Speaker 1: there isn't. But then I used to think, okay, well, 212 00:12:53,679 --> 00:12:56,040 Speaker 1: just well, if I don't mean nothing, just print a 213 00:12:56,120 --> 00:12:59,720 Speaker 1: bill that says four trillion and then give it to him. 214 00:12:59,760 --> 00:13:03,079 Speaker 1: But that's not it. Just the whole thing collapses if 215 00:13:03,080 --> 00:13:06,200 Speaker 1: you do that, because again, if you can just write 216 00:13:06,200 --> 00:13:08,440 Speaker 1: it on a piece of paper, then it's not worth nothing. 217 00:13:08,640 --> 00:13:10,680 Speaker 1: So depending on who you ask, what's the role of 218 00:13:10,679 --> 00:13:13,079 Speaker 1: the government. The role of government is to either a 219 00:13:13,679 --> 00:13:18,400 Speaker 1: make sure that this delicate balance of quantity, services and 220 00:13:18,480 --> 00:13:23,040 Speaker 1: dollars stay even or their job is shut their mouths, 221 00:13:23,080 --> 00:13:25,000 Speaker 1: stay out of it, make sure nobody break no laws. 222 00:13:25,440 --> 00:13:27,760 Speaker 1: If there's too much. Again, like I said earlier, if 223 00:13:27,800 --> 00:13:30,400 Speaker 1: there's too much in circulation, then that means it don't 224 00:13:30,440 --> 00:13:36,439 Speaker 1: mean nothing. If there's not enough in circulation, then everybody 225 00:13:36,480 --> 00:13:39,920 Speaker 1: can get to it. So you have to keep this 226 00:13:40,000 --> 00:13:44,320 Speaker 1: like this balance. You follow me. Now, when you hear 227 00:13:44,400 --> 00:13:48,439 Speaker 1: things about inflation and how you control that inflation, then 228 00:13:48,480 --> 00:13:52,720 Speaker 1: you hear stuff about interest rates. You ever heard somebody 229 00:13:52,720 --> 00:13:54,800 Speaker 1: top about interest rates on the news? Interest rates are low, 230 00:13:54,920 --> 00:13:57,240 Speaker 1: So you know you're better go buy a house. You 231 00:13:57,280 --> 00:13:58,760 Speaker 1: know what I'm saying. You know what the interest is? 232 00:13:59,200 --> 00:14:00,680 Speaker 1: I mean, I don't know if you know interest is, 233 00:14:00,760 --> 00:14:02,959 Speaker 1: but basically it's this, I'm gonna charge you to borrow 234 00:14:03,000 --> 00:14:05,760 Speaker 1: money from me. Let's go back to the ice cream truck. 235 00:14:06,559 --> 00:14:09,120 Speaker 1: You go out there to the ice cream truck, you 236 00:14:09,160 --> 00:14:11,520 Speaker 1: and your homies out there. You got your little five dollars, 237 00:14:11,640 --> 00:14:15,520 Speaker 1: and the ice cream dude say, yo, uh, this is 238 00:14:15,520 --> 00:14:17,680 Speaker 1: gonna cost you ten dollars. So you look to your brother, 239 00:14:18,280 --> 00:14:19,720 Speaker 1: your sister. You be like, yo, let me let me 240 00:14:19,720 --> 00:14:23,000 Speaker 1: get five bucks. And it was like, okay, I'll give 241 00:14:23,000 --> 00:14:25,200 Speaker 1: you five dollars, but it's gonna cost you two dollars. 242 00:14:25,360 --> 00:14:28,360 Speaker 1: What does that mean? That means you need to pay 243 00:14:28,360 --> 00:14:32,280 Speaker 1: me two dollars for letting you borrow my five dollars. 244 00:14:33,080 --> 00:14:36,360 Speaker 1: So I want my five dollars back plus two dollars, That, 245 00:14:37,600 --> 00:14:42,680 Speaker 1: my friend, is interest. The two dollars on top of 246 00:14:42,720 --> 00:14:46,160 Speaker 1: that is interest. So rather than just saying a flat number, 247 00:14:46,200 --> 00:14:50,600 Speaker 1: what you have is percentages or rates. However much you borrowed, 248 00:14:51,360 --> 00:14:53,560 Speaker 1: I want you to pay me back what you borrowed, 249 00:14:53,600 --> 00:14:56,720 Speaker 1: plus a percentage of that. So if I brought up 250 00:14:56,840 --> 00:15:01,280 Speaker 1: a hundred dollars at two interests, then what do I 251 00:15:01,320 --> 00:15:08,920 Speaker 1: owe you two of a hundred two dollars? That's nothing. 252 00:15:08,960 --> 00:15:11,680 Speaker 1: Two percent interests, that's great. What about five percent interests? 253 00:15:11,840 --> 00:15:14,320 Speaker 1: Borrow hundred dollars, I owe you five dollars on top 254 00:15:14,360 --> 00:15:17,080 Speaker 1: of the hundred after I pay you back. Okay, that's cool. 255 00:15:18,200 --> 00:15:20,960 Speaker 1: That's five dollars. That's a hundred. So I owe you 256 00:15:20,960 --> 00:15:24,960 Speaker 1: a hundred and five. No, well you told me a 257 00:15:25,000 --> 00:15:27,240 Speaker 1: hundred and five if you paid me the whole hundred dollars. 258 00:15:27,760 --> 00:15:30,840 Speaker 1: But y'all on payment plans now they tell you it's cool, yo, 259 00:15:30,920 --> 00:15:33,480 Speaker 1: low interest rate. You just you know, you paid you know, 260 00:15:33,880 --> 00:15:35,840 Speaker 1: monthly bills. Just break it down, pay what you can, 261 00:15:36,400 --> 00:15:38,800 Speaker 1: and you keep and you keep it pushing. But every 262 00:15:38,880 --> 00:15:42,680 Speaker 1: year you don't pay the principal off, that's called compound interests. 263 00:15:42,760 --> 00:15:46,320 Speaker 1: Principal meeting the whole hundred dollars. I get to attack 264 00:15:46,360 --> 00:15:49,560 Speaker 1: another percentage on what you originally borrowed. Now what you 265 00:15:49,640 --> 00:15:53,000 Speaker 1: got left, what you originally borrowed. You mess around paying 266 00:15:53,000 --> 00:15:55,400 Speaker 1: twenty dollars a month, and at the end of five 267 00:15:55,480 --> 00:15:58,520 Speaker 1: months you still owe fifty dollars and you're like, wait, 268 00:15:58,520 --> 00:16:01,120 Speaker 1: whoa wait, I just how do I still have that? Well, 269 00:16:01,120 --> 00:16:03,880 Speaker 1: it was compound interest. You know what I'm saying. You ain't. 270 00:16:03,920 --> 00:16:05,560 Speaker 1: You ain't you ain't paid off in time. So I 271 00:16:05,600 --> 00:16:09,240 Speaker 1: get to charge another year of interest rates on top 272 00:16:09,280 --> 00:16:12,120 Speaker 1: of what you already paid, because I'm charging you for 273 00:16:12,720 --> 00:16:16,520 Speaker 1: the whole amount, not what you got left. Y'all, y'all, 274 00:16:16,560 --> 00:16:20,240 Speaker 1: y'all following me? How how this is what we talk 275 00:16:20,480 --> 00:16:25,040 Speaker 1: crippling debt. It's because you never you can never, You're 276 00:16:25,080 --> 00:16:27,760 Speaker 1: never gonna pay it back because you're paying more than 277 00:16:28,120 --> 00:16:30,720 Speaker 1: if you borrowed. So at the end of this, I mean, 278 00:16:30,760 --> 00:16:34,520 Speaker 1: if the numbers pay back, you didn't paid back five 279 00:16:34,960 --> 00:16:37,840 Speaker 1: dollars a hundred dollars. Now, of course I'm pulling these 280 00:16:37,920 --> 00:16:40,280 Speaker 1: numbers like, this is a horrible deal. If you were 281 00:16:40,280 --> 00:16:42,400 Speaker 1: in it, you know what I'm saying. But that's this 282 00:16:42,480 --> 00:16:46,400 Speaker 1: is this is an overview like I said, it's economists 283 00:16:46,400 --> 00:16:47,640 Speaker 1: that are gonna be like prop you don't know what 284 00:16:47,720 --> 00:16:50,200 Speaker 1: the hell you talking about. This is while we say, hey, listen, 285 00:16:51,360 --> 00:16:54,280 Speaker 1: don't be paying the minimums because the credit card or 286 00:16:54,400 --> 00:16:56,720 Speaker 1: debt or will be like, look, hey just pay me. 287 00:16:56,960 --> 00:16:59,400 Speaker 1: Just just just just put something on it. You got 288 00:16:59,400 --> 00:17:01,160 Speaker 1: five on it, just put a little bit on it. 289 00:17:01,160 --> 00:17:05,720 Speaker 1: It's cool. Well, they're charging your interests every time, you 290 00:17:05,800 --> 00:17:07,680 Speaker 1: know what I'm saying. That's why it's so good about 291 00:17:07,680 --> 00:17:10,440 Speaker 1: getting out of debt, because you're gonna be in debt forever. Look, 292 00:17:10,520 --> 00:17:13,399 Speaker 1: let me give you a hood scenario. Sometimes this happens 293 00:17:13,440 --> 00:17:15,720 Speaker 1: with just like cloud, like you turned the wround corner, 294 00:17:15,840 --> 00:17:18,159 Speaker 1: somebody be like, hey, hey, who know blood who you 295 00:17:18,200 --> 00:17:21,679 Speaker 1: know over here? And you're like, oh manna I oh 296 00:17:21,720 --> 00:17:24,719 Speaker 1: I know, uh I know a little tiny baby doo. 297 00:17:24,800 --> 00:17:27,199 Speaker 1: Look like that's the homie calling right now. Then you 298 00:17:27,240 --> 00:17:29,280 Speaker 1: call baby do look and do look yeah like now 299 00:17:29,359 --> 00:17:31,680 Speaker 1: you're cool. Yeah that do cool? You oh do Look 300 00:17:31,800 --> 00:17:34,560 Speaker 1: for a long time. You'll never be able to pay 301 00:17:34,600 --> 00:17:38,479 Speaker 1: that back. If you like, hey, uh yo, man, you know, 302 00:17:38,640 --> 00:17:40,680 Speaker 1: whenever you need a favor, I got you. And he's like, yo, 303 00:17:40,760 --> 00:17:43,240 Speaker 1: can you get me into I'm a rapper, so it's like, Yo, 304 00:17:43,320 --> 00:17:44,919 Speaker 1: can you get me into this concert? Oh? Yeah, I 305 00:17:44,920 --> 00:17:47,280 Speaker 1: got you. We even that you're gonna call next week. 306 00:17:47,320 --> 00:17:49,760 Speaker 1: Hey can you get me into this? I'm like nigked, 307 00:17:49,880 --> 00:17:52,480 Speaker 1: Like okay, he's gonna call you again, Like, hey, homie, 308 00:17:52,560 --> 00:17:54,399 Speaker 1: can you get me into this? You're gonna owe that 309 00:17:54,480 --> 00:17:57,520 Speaker 1: nigga for the rest of your life, so be careful 310 00:17:58,680 --> 00:18:01,680 Speaker 1: borrowing you. His name ain't So what's the solution. Don't 311 00:18:01,680 --> 00:18:04,560 Speaker 1: spend money you ain't got right, I can't spend money 312 00:18:04,640 --> 00:18:06,560 Speaker 1: I don't have. That's how you stay out of debt. 313 00:18:07,560 --> 00:18:10,880 Speaker 1: But like, we know, not that simple, so what so yeah, 314 00:18:10,920 --> 00:18:13,920 Speaker 1: the what a dollar can get me raises over time, 315 00:18:14,000 --> 00:18:17,560 Speaker 1: so okay, make more money, right, it doesn't it? I 316 00:18:17,560 --> 00:18:19,840 Speaker 1: mean it seems that simple. Well, let me introduce you 317 00:18:19,880 --> 00:18:27,080 Speaker 1: to the CPI Inflation Calculator c p I. What that 318 00:18:27,160 --> 00:18:32,960 Speaker 1: means is consumer price index, And what we're saying is 319 00:18:33,000 --> 00:18:35,760 Speaker 1: like the stuff that you just normally need, the like 320 00:18:35,840 --> 00:18:38,919 Speaker 1: the unavoidable stuff. You gotta buy food, gotta buy eggs, 321 00:18:39,200 --> 00:18:40,680 Speaker 1: you ain't gotta go to like you know what I'm saying. 322 00:18:40,680 --> 00:18:44,920 Speaker 1: You gotta Postmates, your you know your your it's the 323 00:18:44,960 --> 00:18:47,000 Speaker 1: cart your stuff, but you still got I mean, of 324 00:18:47,040 --> 00:18:49,040 Speaker 1: course you're gonna there's an up charge for that, but 325 00:18:49,119 --> 00:18:51,639 Speaker 1: that's a luxury. You ain't gotta do that, you know 326 00:18:51,680 --> 00:18:53,879 Speaker 1: what I'm saying. It was a luxury for some people. 327 00:18:54,280 --> 00:18:56,680 Speaker 1: You gotta, you gotta pay your light bill, you gotta 328 00:18:56,720 --> 00:18:59,280 Speaker 1: pay electric bill, you gotta, you gotta, you gotta pay 329 00:18:59,280 --> 00:19:01,520 Speaker 1: your gas bill. You got you know, you gotta pay rent. 330 00:19:01,960 --> 00:19:04,280 Speaker 1: And you also gotta put gas in your car, which 331 00:19:04,280 --> 00:19:06,400 Speaker 1: is where this whole discussion is gonna end debt. Right. 332 00:19:07,080 --> 00:19:10,040 Speaker 1: Uh So, consumer price index, right, that's what that is? 333 00:19:10,080 --> 00:19:15,960 Speaker 1: What does the normal consumer pay for normal things? And 334 00:19:16,000 --> 00:19:17,760 Speaker 1: a way to kind of understand this if you look 335 00:19:17,800 --> 00:19:21,440 Speaker 1: at the US Bureau of Labor Statistics, here's some data tools. 336 00:19:21,440 --> 00:19:25,240 Speaker 1: It's it's it's actually it's pretty crazy to like look 337 00:19:25,280 --> 00:19:36,520 Speaker 1: at over time how inflation has changed us. So I 338 00:19:36,640 --> 00:19:42,720 Speaker 1: punched in twenty dollars in March of can buy you 339 00:19:43,600 --> 00:19:48,800 Speaker 1: the same thing as forty dollars and seventy three cents 340 00:19:49,240 --> 00:19:56,240 Speaker 1: could get you in this month. You're following me, what 341 00:19:56,320 --> 00:19:59,719 Speaker 1: twenty dollars could get you? Then forty dollars could get 342 00:19:59,760 --> 00:20:06,439 Speaker 1: you out? So it's doubled, right, which would be fine 343 00:20:07,240 --> 00:20:12,200 Speaker 1: if wage prices also doubled since then, then it would 344 00:20:12,240 --> 00:20:17,200 Speaker 1: just be a wash. At has has wages risen? Well 345 00:20:17,280 --> 00:20:20,080 Speaker 1: let's well how much have wages? So here's the way 346 00:20:20,119 --> 00:20:21,680 Speaker 1: to get your brain around it. Think of it as 347 00:20:21,800 --> 00:20:27,000 Speaker 1: like rent versus income, meaning average income versus average rent. 348 00:20:27,640 --> 00:20:31,800 Speaker 1: What percentage of your income goes to rent? Will help 349 00:20:31,800 --> 00:20:34,240 Speaker 1: you understand a way of saying like cost of living. 350 00:20:34,520 --> 00:20:37,520 Speaker 1: So if the price of stuff is going up at 351 00:20:37,560 --> 00:20:42,200 Speaker 1: the same rate as wages are as what I'm making, 352 00:20:42,720 --> 00:20:47,920 Speaker 1: then this is a dumb discussion to have. But did 353 00:20:47,960 --> 00:20:52,239 Speaker 1: it grow out the same rate? So the ratio is 354 00:20:52,760 --> 00:20:57,399 Speaker 1: rent to income? Right, So here's some numbers. So if 355 00:20:57,440 --> 00:21:01,240 Speaker 1: we say somebody makes dollar per week or like a 356 00:21:01,320 --> 00:21:06,640 Speaker 1: forty nine thousand two annual salary like before taxes, that's 357 00:21:06,640 --> 00:21:12,080 Speaker 1: the medium wage among like full time workers nationwide. Okay, 358 00:21:12,119 --> 00:21:19,719 Speaker 1: this is this is uh average renter pace of their 359 00:21:19,760 --> 00:21:23,840 Speaker 1: income are rent. Among female wage earners, the average rent 360 00:21:24,080 --> 00:21:27,840 Speaker 1: is thirty point five of the individual rencome. Because again, 361 00:21:28,000 --> 00:21:31,840 Speaker 1: wealth gaps, I'm telling you, man, this stuff show up everywhere. Right. 362 00:21:32,240 --> 00:21:36,600 Speaker 1: In two thousand twelve, it was twenty two eight five 363 00:21:36,680 --> 00:21:40,160 Speaker 1: percent was the average rent and the percentage ravage rent 364 00:21:40,200 --> 00:21:44,800 Speaker 1: as percentage of their house of their income. That's a 365 00:21:45,400 --> 00:21:49,119 Speaker 1: twenty four point five increase in the rate of rent 366 00:21:49,160 --> 00:21:55,080 Speaker 1: to income in eight years, an annual growth of So 367 00:21:55,920 --> 00:21:57,879 Speaker 1: there's a lot of numbers. I'm gonna make it easier 368 00:21:57,920 --> 00:21:59,800 Speaker 1: for you in a second. So the value of the 369 00:22:00,000 --> 00:22:04,400 Speaker 1: average wage increased at the rate of three point four 370 00:22:04,480 --> 00:22:08,200 Speaker 1: four percent. So let me say it as clear as possible. 371 00:22:08,359 --> 00:22:10,239 Speaker 1: Do all the math you want to do it, but 372 00:22:10,400 --> 00:22:13,840 Speaker 1: you know math is weird. I get it. Listen, rent 373 00:22:13,840 --> 00:22:20,359 Speaker 1: prices increased twelve point five percent faster than wages. So 374 00:22:20,440 --> 00:22:25,200 Speaker 1: rents going up higher than your wages. That's how inflation works. 375 00:22:25,280 --> 00:22:29,040 Speaker 1: So if you to go again, rent inflation, wage inflation, 376 00:22:29,119 --> 00:22:32,359 Speaker 1: how much can your dollar give you? Right? So in 377 00:22:32,440 --> 00:22:36,400 Speaker 1: two thousand seven, rent was going up, uh four point 378 00:22:36,640 --> 00:22:39,360 Speaker 1: six percent, and then wage was going up four point 379 00:22:39,440 --> 00:22:42,600 Speaker 1: five pc. In two thousand and eight, rent was going 380 00:22:42,680 --> 00:22:48,280 Speaker 1: up three point six percent while wage was going up 381 00:22:49,840 --> 00:22:53,879 Speaker 1: two percent. In two thousand nine, follow me, rent was 382 00:22:53,920 --> 00:22:56,919 Speaker 1: going up two point eight percent. You know a wage 383 00:22:57,080 --> 00:23:00,359 Speaker 1: was going up, it wasn't it was going down. Getive 384 00:23:00,480 --> 00:23:05,080 Speaker 1: one point five one are our wages went down? What 385 00:23:05,200 --> 00:23:11,000 Speaker 1: happened to two thousand nine housing crash recession, like the 386 00:23:11,080 --> 00:23:14,160 Speaker 1: rent going up while we make it less. It ain't 387 00:23:14,160 --> 00:23:18,800 Speaker 1: no avocado toast. What happened in rent went up three 388 00:23:20,119 --> 00:23:24,399 Speaker 1: wage two point eight. So what I'm saying is the 389 00:23:24,520 --> 00:23:30,480 Speaker 1: rent going up faster than our wages. You talk about 390 00:23:30,520 --> 00:23:32,720 Speaker 1: we spending money on avocado. Know what we're saying is 391 00:23:32,760 --> 00:23:36,080 Speaker 1: the dollar ain't worth the same. It costs more to live. 392 00:23:37,280 --> 00:23:39,200 Speaker 1: I guess you could go back to school and get 393 00:23:39,200 --> 00:23:42,680 Speaker 1: a get a better job. Okay, cool, Well, then yeah, 394 00:23:42,720 --> 00:23:44,879 Speaker 1: borrow another eighty thousand dollars that you'll pay for the 395 00:23:44,920 --> 00:23:46,639 Speaker 1: rest of your life. Anyway, I'm not here to complain. 396 00:23:46,960 --> 00:23:51,040 Speaker 1: I'm just trying to help you understand how this works. Now, 397 00:23:51,119 --> 00:23:53,280 Speaker 1: let me get back to like how inflation and stuff 398 00:23:53,320 --> 00:23:54,600 Speaker 1: like kind of kind of does things. So if you 399 00:23:54,640 --> 00:23:57,200 Speaker 1: lower the interest rates, then what that means is people 400 00:23:57,240 --> 00:23:59,920 Speaker 1: gonna spend more money on houses. But that mean we've 401 00:24:00,000 --> 00:24:01,920 Speaker 1: gonna buy up all the houses. It ain't gonna be 402 00:24:02,040 --> 00:24:04,240 Speaker 1: enough of them, which means that raises the price. Does 403 00:24:04,240 --> 00:24:08,119 Speaker 1: that make sense? So the cost of houses are gonna change, 404 00:24:08,240 --> 00:24:10,439 Speaker 1: and then they're gonna say many people buying up these 405 00:24:10,440 --> 00:24:12,880 Speaker 1: houses even we were to raise these interest rates, right, 406 00:24:13,040 --> 00:24:15,280 Speaker 1: because not the money. So they're trying to keep the 407 00:24:15,320 --> 00:24:20,080 Speaker 1: money balanced. Air quotes in in in in the system 408 00:24:20,119 --> 00:24:24,679 Speaker 1: to make sure that the dollar keep meaning something. What 409 00:24:24,760 --> 00:24:27,440 Speaker 1: does this have to do with why Californians are paying 410 00:24:28,440 --> 00:24:33,199 Speaker 1: six dollars for gas? You heard me, six dollars for gas. 411 00:24:33,720 --> 00:25:23,600 Speaker 1: Let's get into it, y'all. Remember in the Dark Night 412 00:25:23,840 --> 00:25:27,600 Speaker 1: when Heath Ledger was joker, and he said when he 413 00:25:27,680 --> 00:25:30,680 Speaker 1: met with all the goons, hey, if you're good at something, 414 00:25:30,760 --> 00:25:33,520 Speaker 1: never do it for free. He's setting up a principal 415 00:25:33,560 --> 00:25:37,920 Speaker 1: here him being good at something is for the sake 416 00:25:37,960 --> 00:25:42,040 Speaker 1: of our times. Is a commodity, And I'm not gonna 417 00:25:42,119 --> 00:25:45,840 Speaker 1: just give you this commodity because I'm the only one 418 00:25:45,920 --> 00:25:48,480 Speaker 1: you could get it from. So I get to set 419 00:25:48,520 --> 00:25:51,439 Speaker 1: the price, havey have? I want to set it because 420 00:25:51,440 --> 00:25:54,000 Speaker 1: you need it. And if I could control how many 421 00:25:54,119 --> 00:25:56,320 Speaker 1: of it and how much of it is on the streets, 422 00:25:57,520 --> 00:26:00,880 Speaker 1: then then then I could charge whatever. I won't enter 423 00:26:00,920 --> 00:26:07,040 Speaker 1: the idea of the oil industry, the energy industry. Why 424 00:26:07,040 --> 00:26:09,280 Speaker 1: are these dudes all clicked up together if they all 425 00:26:09,280 --> 00:26:11,640 Speaker 1: trying to sell the same product. It's exactly what I'm 426 00:26:11,640 --> 00:26:14,920 Speaker 1: telling you, because we get to tell you what the hell, 427 00:26:15,040 --> 00:26:17,080 Speaker 1: we're gonna you're gonna pay us for it because you 428 00:26:17,160 --> 00:26:19,639 Speaker 1: can't get it nowhere else. Why do they have a 429 00:26:19,720 --> 00:26:22,440 Speaker 1: vested interest? And make sure you're not buying wind because 430 00:26:22,480 --> 00:26:26,480 Speaker 1: wind is free. You say you got to build the 431 00:26:26,520 --> 00:26:30,560 Speaker 1: infrastructure for it, of course, but the wind is free. 432 00:26:30,960 --> 00:26:35,600 Speaker 1: I can set these prices because it's simple law of 433 00:26:36,080 --> 00:26:41,639 Speaker 1: supply and demand. If you could control, just like the dollar, 434 00:26:42,119 --> 00:26:45,160 Speaker 1: the amount, just like your Pokemon card, if I can 435 00:26:45,200 --> 00:26:48,400 Speaker 1: control the amount of them that are in the streets, 436 00:26:49,160 --> 00:26:52,080 Speaker 1: then I could control how much you're gonna pay for It. 437 00:26:52,119 --> 00:26:57,359 Speaker 1: Would make sense for everybody that owns any of this 438 00:26:57,600 --> 00:27:00,399 Speaker 1: energy to make sure we all on the same page, 439 00:27:02,440 --> 00:27:05,359 Speaker 1: because if you start charging less, you mess up it 440 00:27:05,440 --> 00:27:08,080 Speaker 1: for everybody. We're gonna have to make sure we got 441 00:27:08,080 --> 00:27:10,560 Speaker 1: some folks on the inside that is making the laws 442 00:27:10,600 --> 00:27:12,800 Speaker 1: to make sure that this money trained working. I got 443 00:27:12,920 --> 00:27:16,800 Speaker 1: enough money to make sure you lawmakers ain't gonna mess 444 00:27:16,840 --> 00:27:21,200 Speaker 1: up my bag. But like I said, with the Pokemon card, 445 00:27:21,560 --> 00:27:24,840 Speaker 1: that can only go so far. There's a term called elasticity, 446 00:27:24,880 --> 00:27:27,480 Speaker 1: which means at some point you're gonna hit a place 447 00:27:27,480 --> 00:27:30,280 Speaker 1: where this is so high that we're not gonna We're 448 00:27:30,320 --> 00:27:32,240 Speaker 1: not gonna buy this no more, or we're gonna figure 449 00:27:32,240 --> 00:27:35,040 Speaker 1: out other ways to do it. Now we're getting into 450 00:27:35,240 --> 00:27:37,480 Speaker 1: the culture war debate about like, well, you know, we 451 00:27:37,600 --> 00:27:42,199 Speaker 1: got oil in America. It's sitting right up under right 452 00:27:42,320 --> 00:27:46,360 Speaker 1: up under the Alaskan ice. It's sitting right up right 453 00:27:46,400 --> 00:27:48,760 Speaker 1: off our coasts, it's right off the golf coats. But 454 00:27:48,840 --> 00:27:51,399 Speaker 1: the problem is to get to that you kind of 455 00:27:51,440 --> 00:27:56,200 Speaker 1: gotta kill earth to get it. And we're like, yo, 456 00:27:56,359 --> 00:27:59,280 Speaker 1: is that juice worth the squeeze? Is it really worth 457 00:27:59,359 --> 00:28:04,000 Speaker 1: the squeeze to just like destroy the ground at the 458 00:28:04,040 --> 00:28:06,560 Speaker 1: ground we all live on to get some stuff that 459 00:28:06,600 --> 00:28:08,639 Speaker 1: we actually need. Well, the question is how much a 460 00:28:08,680 --> 00:28:12,480 Speaker 1: dollar cost? And then the next question is is that 461 00:28:12,520 --> 00:28:16,920 Speaker 1: gonna make it any cheaper? Is it? If these people 462 00:28:16,960 --> 00:28:20,920 Speaker 1: are already know we're willing to pay this much. I mean, 463 00:28:21,080 --> 00:28:25,680 Speaker 1: if you just come down one dollar, then it's gonna 464 00:28:25,720 --> 00:28:29,760 Speaker 1: seem cheaper. May I mean you you trust in them 465 00:28:29,760 --> 00:28:34,040 Speaker 1: to be some economic purists. I don't. I don't think 466 00:28:34,080 --> 00:28:36,399 Speaker 1: it's gonna change the price very much because they're just 467 00:28:36,440 --> 00:28:39,480 Speaker 1: gonna tap a all American you know, stick on it. 468 00:28:39,800 --> 00:28:43,120 Speaker 1: Just it's oil. Listen, it's oil. Riggs and long Beach 469 00:28:43,880 --> 00:28:46,320 Speaker 1: it's oil riggs and in Texas and Yo, here's an 470 00:28:46,360 --> 00:28:49,920 Speaker 1: interesting thing. Why I hear recently a lot of Latinos 471 00:28:49,960 --> 00:28:53,680 Speaker 1: are actually switching to these Republicans because look at a 472 00:28:53,720 --> 00:28:57,920 Speaker 1: lot of migrant Latinos. They work in the oil field, 473 00:28:59,040 --> 00:29:01,960 Speaker 1: they work out here, and we're the ones and we 474 00:29:02,200 --> 00:29:04,959 Speaker 1: do you know, Democrats talking all this like clean energy stuff, 475 00:29:05,160 --> 00:29:07,480 Speaker 1: so we canna lose their job. They canna lose their jobs, 476 00:29:07,720 --> 00:29:13,680 Speaker 1: and they like, listen, everybody racist. That that's they stay that. Look, look, 477 00:29:14,040 --> 00:29:17,160 Speaker 1: both of y'all races democratic and neither one of y'all 478 00:29:17,200 --> 00:29:19,600 Speaker 1: like y'all just the Demo has just talk nicer. And 479 00:29:19,640 --> 00:29:22,160 Speaker 1: when you talk about us, all you talk about is immigration. 480 00:29:23,320 --> 00:29:26,600 Speaker 1: I'm like that's like issue number five, you know what 481 00:29:26,600 --> 00:29:33,560 Speaker 1: I'm saying. So like, look they look low, kid, you 482 00:29:33,600 --> 00:29:37,560 Speaker 1: know they kind of did they them the Latinos is 483 00:29:37,640 --> 00:29:41,800 Speaker 1: like the Republicans just gaining some Latino some Latino ground, 484 00:29:42,000 --> 00:29:45,200 Speaker 1: because it's like, can you talking y'all already know y'all racist, 485 00:29:45,520 --> 00:29:48,280 Speaker 1: both of y'all races. You'll be saying the quiet thing 486 00:29:48,360 --> 00:29:51,560 Speaker 1: out loud. So what you got for me? Well, we 487 00:29:51,680 --> 00:29:55,440 Speaker 1: got these jobs, like yeah, said, let's go comp pop 488 00:29:56,480 --> 00:29:59,440 Speaker 1: how much is it worth? It? Can gas be eight dollars? 489 00:30:00,600 --> 00:30:04,120 Speaker 1: Which which with where where's your price? Y'all just saw 490 00:30:04,480 --> 00:30:08,080 Speaker 1: our president get on the stage and he say, hey, listen, listen, 491 00:30:08,480 --> 00:30:14,040 Speaker 1: effective immediately, we're gonna ban Russian oil import because we 492 00:30:14,160 --> 00:30:16,160 Speaker 1: have war with Russian. Now, let me ask you this, 493 00:30:16,320 --> 00:30:18,920 Speaker 1: how smart is it to buy something that you need 494 00:30:19,120 --> 00:30:22,360 Speaker 1: from somebody that show enemy. Does that sounds smart to you? Well, 495 00:30:22,640 --> 00:30:25,320 Speaker 1: we've been doing it four decades because we've been using 496 00:30:25,360 --> 00:30:28,600 Speaker 1: Middle Eastern oil and and there's there's there's some weird 497 00:30:28,720 --> 00:30:30,760 Speaker 1: kind of things going on here. This stuff is complicated, 498 00:30:30,800 --> 00:30:33,000 Speaker 1: and when you get into the geopolitics of it, because 499 00:30:33,000 --> 00:30:35,560 Speaker 1: it's like why I'm ba buy oil from Afghanistan if 500 00:30:35,600 --> 00:30:38,240 Speaker 1: I'm at war with Afghanistan? That don't make no sense 501 00:30:38,280 --> 00:30:42,160 Speaker 1: to me, right, But it's because, well, y'all can destroy 502 00:30:42,240 --> 00:30:45,200 Speaker 1: y'all land, I'm not gonna destroy mine. You know what 503 00:30:45,240 --> 00:30:48,120 Speaker 1: I'm saying, Like I'm not if you don't clean your kitchen, 504 00:30:48,280 --> 00:30:50,920 Speaker 1: you understand what I'm saying. You don't already clean your kitchen. 505 00:30:50,920 --> 00:30:52,640 Speaker 1: Are you gonna cook for dinner? You're gonna buy something 506 00:30:52,760 --> 00:30:55,040 Speaker 1: because I'm not trying to wash all these dishes again. Right, 507 00:30:55,200 --> 00:30:58,239 Speaker 1: So you're like, don't destroy your land. You feel me, 508 00:30:58,440 --> 00:31:00,960 Speaker 1: We'll just buy it from you. But on people on 509 00:31:01,040 --> 00:31:03,360 Speaker 1: the right, it's like that don't make no damn sense. 510 00:31:03,760 --> 00:31:06,040 Speaker 1: We got it over here. We could get some of 511 00:31:06,080 --> 00:31:08,520 Speaker 1: that good some of that good money, you know what 512 00:31:08,600 --> 00:31:11,160 Speaker 1: I'm saying. So they're looking at everybody going Okay, how 513 00:31:11,240 --> 00:31:13,920 Speaker 1: much is it worth? How much is it worth it? How? How? How? 514 00:31:13,960 --> 00:31:17,520 Speaker 1: What's the price? What's your breaking point? How much the 515 00:31:17,520 --> 00:31:20,880 Speaker 1: oil prices gotta be before you stop worrying about sequoia 516 00:31:20,960 --> 00:31:26,520 Speaker 1: trees and breathable air and nashvial parks and an entire 517 00:31:26,600 --> 00:31:29,360 Speaker 1: globe that's like livable. What's like? What's what's the price? 518 00:31:29,560 --> 00:31:33,280 Speaker 1: How high this gas gotta get before you stop realizing that, Look, 519 00:31:33,320 --> 00:31:35,280 Speaker 1: we're just gonna have to pay it. So does the 520 00:31:35,280 --> 00:31:39,520 Speaker 1: president control the prices? Who know? The industry control the prices? 521 00:31:39,760 --> 00:31:44,320 Speaker 1: The question is what does he control? But only specifically 522 00:31:44,320 --> 00:31:47,800 Speaker 1: for America. So if the president say, hey, listen, we're 523 00:31:47,800 --> 00:31:51,000 Speaker 1: not using that oil, we're shutting off this pipeline, we're 524 00:31:51,040 --> 00:31:53,800 Speaker 1: doing this, then the industry gets to go, okay, cool, 525 00:31:53,840 --> 00:31:56,040 Speaker 1: So you you're cutting off your other sources, all right, Dope, 526 00:31:56,120 --> 00:31:58,720 Speaker 1: this will we charge it. Oh look, now get hell 527 00:31:58,760 --> 00:32:01,800 Speaker 1: of murky because listen, you put a sanction on Russian oil. 528 00:32:02,280 --> 00:32:05,040 Speaker 1: Let's just say you make this like an international NATO 529 00:32:05,120 --> 00:32:08,920 Speaker 1: sanction on Russian oil. Somebody gonna make some money because 530 00:32:08,920 --> 00:32:10,920 Speaker 1: you don't cut them off. So now look at look 531 00:32:10,920 --> 00:32:14,520 Speaker 1: at peepe this, peepe this. We make money off this 532 00:32:14,560 --> 00:32:17,600 Speaker 1: war because you still gotta buy oil. And if you're 533 00:32:17,640 --> 00:32:20,520 Speaker 1: telling me you're not gonna buy oh man, now look, 534 00:32:20,920 --> 00:32:24,080 Speaker 1: somebody fnna get bread off this war and get it. 535 00:32:24,120 --> 00:32:27,680 Speaker 1: Get crazy, don't it. You're a You're in a horrible situation. 536 00:32:27,800 --> 00:32:29,520 Speaker 1: You want to keep the prices down, Go ahead and 537 00:32:29,560 --> 00:32:32,480 Speaker 1: buy from Russia. You're buying from Russia. You're supporting their war. 538 00:32:33,840 --> 00:32:36,120 Speaker 1: I mean, it's crazy, ain't it. You need to tell 539 00:32:36,160 --> 00:32:38,280 Speaker 1: me you ain't never had to play nice, to play 540 00:32:38,280 --> 00:32:41,400 Speaker 1: the long game. Somebody you know, crazy, But like I 541 00:32:41,400 --> 00:32:43,800 Speaker 1: don't know what to say, like I need them? Yeah? 542 00:32:43,960 --> 00:32:46,960 Speaker 1: Like or or do you need them? What's the price? 543 00:32:48,080 --> 00:32:50,720 Speaker 1: And it's not like the president buying that oil, your 544 00:32:50,800 --> 00:32:53,680 Speaker 1: gas station buying that oil. You feel me and he's like, look, 545 00:32:53,720 --> 00:32:55,800 Speaker 1: that's just how much it costs. You went to the 546 00:32:55,880 --> 00:32:58,520 Speaker 1: ice cream truck and your drum stick that was a 547 00:32:58,520 --> 00:33:03,480 Speaker 1: dollar yesterday. If the ice cream industry, truck truck industry 548 00:33:03,560 --> 00:33:06,280 Speaker 1: was like, hey, we're not buying from anybody from Colorado, 549 00:33:06,600 --> 00:33:09,120 Speaker 1: then the rest of the state's go, oh word, okay, 550 00:33:09,160 --> 00:33:10,840 Speaker 1: well we get to raise our price though, because you 551 00:33:10,880 --> 00:33:13,240 Speaker 1: actually need these drumsticks and you're gonna sell them, Like 552 00:33:13,280 --> 00:33:15,640 Speaker 1: what what what y'all gonna do? And now you like 553 00:33:15,720 --> 00:33:19,560 Speaker 1: got dog man? Okay, so now the ice cream two dollars. 554 00:33:19,560 --> 00:33:21,880 Speaker 1: So you're like hey mom, and mom like, I ain't 555 00:33:21,880 --> 00:33:25,040 Speaker 1: paying you. Listen, you got this. How much your money is. 556 00:33:25,280 --> 00:33:27,680 Speaker 1: You gotta make your work, so do you? So I 557 00:33:27,720 --> 00:33:29,960 Speaker 1: guess you gotta make sacrifices. You gotta do other things. 558 00:33:30,000 --> 00:33:32,080 Speaker 1: You gotta get you a scooter. I don't know, you're 559 00:33:32,120 --> 00:33:34,280 Speaker 1: gonna start mowing the lawn and make some extra money 560 00:33:34,400 --> 00:33:36,840 Speaker 1: and wash some cars or you could do with Some 561 00:33:36,880 --> 00:33:39,640 Speaker 1: other people have argued to continue this metaphor switch the 562 00:33:39,680 --> 00:33:44,080 Speaker 1: frozen yogurt, Well what if we don't use oil into 563 00:33:44,080 --> 00:33:47,680 Speaker 1: electric cars, into clean energy, And to this, we're like, well, yo, 564 00:33:47,840 --> 00:33:49,680 Speaker 1: well if we just stopped doing that, then well, now 565 00:33:49,720 --> 00:33:51,720 Speaker 1: you messed up another part of economy because there's millions 566 00:33:51,720 --> 00:33:53,920 Speaker 1: and millions of people that got jobs. So now you're 567 00:33:53,920 --> 00:33:56,360 Speaker 1: gonna put all these people out of business, which is 568 00:33:56,400 --> 00:33:58,520 Speaker 1: also gonna mess up inflation because now there's more people 569 00:33:58,560 --> 00:34:00,720 Speaker 1: in the job marketing. If there's more peop, if there's 570 00:34:00,720 --> 00:34:03,520 Speaker 1: more people that need jobs than there are jobs that exist, 571 00:34:03,800 --> 00:34:07,120 Speaker 1: then guess what our unemployment race rise. It's it's a 572 00:34:07,160 --> 00:34:09,680 Speaker 1: crazy balance, right come. There's a lot of different Like 573 00:34:10,440 --> 00:34:13,160 Speaker 1: it's super cool now like back, which is way better 574 00:34:13,200 --> 00:34:14,600 Speaker 1: than when I was trying to learn all this stuff, 575 00:34:14,600 --> 00:34:17,080 Speaker 1: where there's just like dope websites that can like give 576 00:34:17,120 --> 00:34:22,080 Speaker 1: you pretty simple breakdowns of a lot of these things. 577 00:34:22,560 --> 00:34:24,120 Speaker 1: That makes it a lot more easier than the way 578 00:34:24,160 --> 00:34:29,279 Speaker 1: I went through learning all this stuff. So here we go. 579 00:34:29,719 --> 00:34:32,720 Speaker 1: Just bottom line, I'm gonna break these things down for you. Okay, 580 00:34:32,760 --> 00:34:37,400 Speaker 1: look again, Like we said, gas prices are basically supplying demand, 581 00:34:37,760 --> 00:34:41,200 Speaker 1: and then gasoline prices cover the cost of like why 582 00:34:41,200 --> 00:34:43,080 Speaker 1: it says six dollars a pump, what does that cup 583 00:34:43,120 --> 00:34:46,280 Speaker 1: six dollars a gallon? That's covering firing, the crude oil, 584 00:34:46,680 --> 00:34:51,799 Speaker 1: refining it, distributing it, right, and additional federal taxes because 585 00:34:51,840 --> 00:34:55,879 Speaker 1: everybody got get the cut. Usually if it's reasonable as 586 00:34:55,920 --> 00:35:01,280 Speaker 1: related to inflation, costs of living wages. Nobody really notices 587 00:35:01,320 --> 00:35:04,000 Speaker 1: it because it's a necessary evil, like you still gotta 588 00:35:04,000 --> 00:35:09,480 Speaker 1: get around. It only becomes noticeable when it gets too high. 589 00:35:09,640 --> 00:35:12,640 Speaker 1: And what's crazy if your oil exactly is don't nobody 590 00:35:12,640 --> 00:35:15,640 Speaker 1: get mad at you. Everybody get mad at the president. 591 00:35:16,760 --> 00:35:19,560 Speaker 1: Which is a great set up if if you, if 592 00:35:19,600 --> 00:35:24,040 Speaker 1: you them right now, let's dive into it. So remember 593 00:35:24,040 --> 00:35:27,239 Speaker 1: that that gasoline don't come out the earth is gasoline 594 00:35:27,280 --> 00:35:29,839 Speaker 1: oil don't come out there. It comes out as crude oil, right, 595 00:35:30,040 --> 00:35:32,960 Speaker 1: and it's a raw commodity, and getting it out the 596 00:35:33,000 --> 00:35:36,680 Speaker 1: ground is the biggest percentage of our cost. That's why 597 00:35:36,719 --> 00:35:40,719 Speaker 1: oil men make so much. Well that and it's freakishly dangerous. 598 00:35:40,920 --> 00:35:43,680 Speaker 1: So if you look at like according to again I'm quoting, 599 00:35:43,719 --> 00:35:49,040 Speaker 1: I'm quoting Investopedia. According to the US Energy Information Administration, 600 00:35:49,080 --> 00:35:52,560 Speaker 1: the price of crude oil accounting for fifty of the 601 00:35:52,600 --> 00:35:58,719 Speaker 1: price of gasoline in the decade through on average, But 602 00:35:59,200 --> 00:36:06,360 Speaker 1: that average conceals wide fluctuations in when crude prices down 603 00:36:06,520 --> 00:36:10,880 Speaker 1: sharply during COVID, crew just accounted for just fort of 604 00:36:10,920 --> 00:36:14,000 Speaker 1: gas prices. Because you remember when COVID started, nobody was 605 00:36:14,040 --> 00:36:17,880 Speaker 1: going nowhere so we wasn't buying it. Now if you 606 00:36:17,920 --> 00:36:21,560 Speaker 1: know how again, selling something work. If it's just if 607 00:36:21,600 --> 00:36:24,359 Speaker 1: it's just sitting in the warehouse, it ain't doing nothing 608 00:36:24,360 --> 00:36:26,880 Speaker 1: but getting rotted. So you're trying to offer it right there? 609 00:36:26,960 --> 00:36:29,240 Speaker 1: What's up with these like end of the year sales. 610 00:36:29,600 --> 00:36:32,239 Speaker 1: You're just trying to off your stuff, so that means 611 00:36:32,280 --> 00:36:34,160 Speaker 1: you got to lower the price. And if you lowering 612 00:36:34,200 --> 00:36:35,960 Speaker 1: the price, that means you're not getting a return on 613 00:36:36,040 --> 00:36:38,640 Speaker 1: your investment. So you're hoping that you could just off 614 00:36:38,680 --> 00:36:41,440 Speaker 1: as much as you can with hopes that that muggle 615 00:36:41,520 --> 00:36:43,520 Speaker 1: rebound a little later and you make your mo money. 616 00:36:43,600 --> 00:36:46,120 Speaker 1: You feel me. I don't know if you'll remember in 617 00:36:46,120 --> 00:36:48,400 Speaker 1: the pandemic, there was a moment when crude oil prices 618 00:36:48,480 --> 00:36:50,920 Speaker 1: the price of a barrel got to negative where it 619 00:36:50,960 --> 00:36:53,080 Speaker 1: was negative a dollar. You know what I'm saying. I 620 00:36:53,120 --> 00:36:56,080 Speaker 1: know it's a weird mathematical thing, but that's what I'm 621 00:36:56,080 --> 00:36:58,560 Speaker 1: trying to say. The demand was so low, so it 622 00:36:58,560 --> 00:37:00,319 Speaker 1: just like, dang, we can't even get this stuff away. 623 00:37:00,320 --> 00:37:03,400 Speaker 1: Don't nobody wanted? Whoa that? Did that mean that? The 624 00:37:03,440 --> 00:37:06,879 Speaker 1: President went up there and with his harsh negotiation and said, 625 00:37:07,040 --> 00:37:11,840 Speaker 1: you're gonna give us oil. Now that's not now that 626 00:37:12,040 --> 00:37:16,840 Speaker 1: our work now crude oil. I'm gonna give you another 627 00:37:16,920 --> 00:37:24,680 Speaker 1: metaphor in a lot of ways, is like coffee. Now, 628 00:37:24,680 --> 00:37:26,960 Speaker 1: I stay with me. Now, why wohen you go to 629 00:37:27,239 --> 00:37:31,520 Speaker 1: specialty you know snobby tea coffee shop that that coffee 630 00:37:31,760 --> 00:37:35,560 Speaker 1: cup is six dollars a cup, whereas you could just 631 00:37:35,640 --> 00:37:40,319 Speaker 1: go to Circle K seven eleven, Piggy, Wiggy you know, 632 00:37:40,680 --> 00:37:42,879 Speaker 1: wig wams, I don't know, and get you a one 633 00:37:42,920 --> 00:37:45,600 Speaker 1: dollar cup of coffee. Well, one taste horrible and the 634 00:37:45,640 --> 00:37:48,400 Speaker 1: other one tastes amazing. If you know what you're tasting. Why, 635 00:37:48,520 --> 00:37:52,440 Speaker 1: it's because all coffee beans ain't created even the process 636 00:37:52,520 --> 00:37:55,080 Speaker 1: of getting them to that shelf and created equal. That's 637 00:37:55,080 --> 00:37:58,399 Speaker 1: why that hoity toity spot is called specialty coffee. It's 638 00:37:58,440 --> 00:38:01,319 Speaker 1: the top of the crop that gets to go there 639 00:38:01,360 --> 00:38:04,239 Speaker 1: that for it to be called specialty. Everybody else that 640 00:38:04,320 --> 00:38:07,719 Speaker 1: little folders you know what I'm saying That that I mean, 641 00:38:07,760 --> 00:38:09,799 Speaker 1: I'm I'm throwing shade it folders, you know what I'm saying. 642 00:38:09,800 --> 00:38:12,640 Speaker 1: But that stuff, why it tastes awful is because it's 643 00:38:12,680 --> 00:38:15,600 Speaker 1: a lower grade being. And then the process of getting 644 00:38:15,600 --> 00:38:18,359 Speaker 1: that thing roasted and grinded and stuff like that. Like, yo, 645 00:38:18,560 --> 00:38:21,759 Speaker 1: it's not it's not as good, but you can still 646 00:38:21,800 --> 00:38:24,759 Speaker 1: sell it because plenty of people drink it. Look, this 647 00:38:24,840 --> 00:38:27,239 Speaker 1: is easy when cocaine and crack cocaine costs more because 648 00:38:27,239 --> 00:38:30,800 Speaker 1: it's pure. I mean it's easy, right, that little dirt 649 00:38:30,800 --> 00:38:33,279 Speaker 1: weed that you'd bought from your uncle, Like why it 650 00:38:33,320 --> 00:38:35,960 Speaker 1: was only two dollars. It's because it's nasty. It's got 651 00:38:35,960 --> 00:38:37,560 Speaker 1: a reguno in it, you know what I'm saying. But 652 00:38:37,600 --> 00:38:40,279 Speaker 1: that good, that good good that Kelly Kush is gonna 653 00:38:40,360 --> 00:38:43,000 Speaker 1: cost you something because it's better, like right, I mean, 654 00:38:43,040 --> 00:38:46,759 Speaker 1: it's this easy. Crude oil, there's a quality of crude oil. 655 00:38:46,800 --> 00:38:49,359 Speaker 1: If you want good crude oil that's good to make gas, 656 00:38:49,480 --> 00:38:52,759 Speaker 1: you gotta pay for the best stuff. Secondly, refining it, 657 00:38:52,880 --> 00:38:57,239 Speaker 1: like I said, the process of making crude oil at 658 00:38:57,280 --> 00:39:01,759 Speaker 1: a high grade into gas, it costs a lot. You 659 00:39:01,840 --> 00:39:05,400 Speaker 1: gotta pay them people. And then next you gotta do distributing, 660 00:39:05,440 --> 00:39:07,920 Speaker 1: marketing that once the crude oil is refined in the gasoline, 661 00:39:08,239 --> 00:39:10,680 Speaker 1: it gotta get shipped in storage tanks and eventually make 662 00:39:10,719 --> 00:39:13,640 Speaker 1: it to those gas stations. And then stations require staff 663 00:39:13,760 --> 00:39:16,719 Speaker 1: making its distribution and marketing and that account for like 664 00:39:16,800 --> 00:39:20,640 Speaker 1: fourteen percent of the US retail price in gas in 665 00:39:20,640 --> 00:39:24,440 Speaker 1: the decades average. Right, they gotta make their money too. 666 00:39:24,719 --> 00:39:29,280 Speaker 1: And then finally the tax man. Here's where it gets gangster. 667 00:39:29,680 --> 00:39:32,960 Speaker 1: Stay in local taxes account for sixteen percented at retail 668 00:39:33,040 --> 00:39:36,920 Speaker 1: gas price. Now this is where you can start getting 669 00:39:36,960 --> 00:39:41,120 Speaker 1: your pitch force together, because I ain't set the price, 670 00:39:41,560 --> 00:39:44,400 Speaker 1: but I set the percentage. Now, it's not just the president, 671 00:39:44,520 --> 00:39:47,319 Speaker 1: their state taxes to everybody gotta make their money. If 672 00:39:47,360 --> 00:39:49,400 Speaker 1: you can think of it like this, what the president 673 00:39:49,440 --> 00:39:52,480 Speaker 1: gets to do is figure out which supplier he go on. You. 674 00:39:52,920 --> 00:39:55,720 Speaker 1: The supplier get to tell you how much this stuff costs. 675 00:39:56,320 --> 00:39:58,840 Speaker 1: And then after you bought and how and how, that 676 00:39:58,960 --> 00:40:02,240 Speaker 1: supplier tells you how much each of these things costs. 677 00:40:02,440 --> 00:40:05,080 Speaker 1: They calculating their cast to get it out of the ground, 678 00:40:05,480 --> 00:40:08,080 Speaker 1: to process it. And then once we sell you that barrel. 679 00:40:08,440 --> 00:40:11,080 Speaker 1: Now the company that bought the barrel, they gotta tell 680 00:40:11,080 --> 00:40:13,239 Speaker 1: you how much it costs for them to get that 681 00:40:13,280 --> 00:40:16,840 Speaker 1: Crewe get that gas in a truck to the station 682 00:40:17,360 --> 00:40:19,960 Speaker 1: in the pumps, and then that company got to pay 683 00:40:20,000 --> 00:40:23,120 Speaker 1: the state and the federal and they're saying, Okay, you 684 00:40:23,160 --> 00:40:25,239 Speaker 1: gotta get your cut it cost me this much. I'm 685 00:40:25,280 --> 00:40:27,520 Speaker 1: a seller at this you want this percentage for gallon 686 00:40:27,600 --> 00:40:30,359 Speaker 1: of what I sell? So then they say, okay, who 687 00:40:30,480 --> 00:40:33,799 Speaker 1: paying for all that? Nigger us? We but this when 688 00:40:33,800 --> 00:40:36,880 Speaker 1: you say proudly it's the same amount of work to 689 00:40:36,920 --> 00:40:39,680 Speaker 1: get the oil out of the Why then why is 690 00:40:39,719 --> 00:40:42,640 Speaker 1: the price changing. It's the same amount of work to 691 00:40:42,719 --> 00:40:45,000 Speaker 1: get the oil out the thing through the thing. It's like, 692 00:40:45,480 --> 00:40:51,600 Speaker 1: what's the inflation? Baby? Add it's inflation. Look, I can't 693 00:40:51,600 --> 00:40:56,279 Speaker 1: control them, you know what I'm saying, how much of dollar? Cause, yeah, 694 00:40:56,280 --> 00:40:59,920 Speaker 1: it's inflation, baby. And what we say before inflation may 695 00:41:00,040 --> 00:41:03,440 Speaker 1: it up? And if inflation shooting up faster than your 696 00:41:04,400 --> 00:41:07,759 Speaker 1: your rent or your income, oh baby like that, man, 697 00:41:07,800 --> 00:41:12,120 Speaker 1: that's y'all's problem. We just look, the inflation went up, 698 00:41:12,200 --> 00:41:14,480 Speaker 1: so now I gotta pay my workers more. That's what 699 00:41:14,560 --> 00:41:18,399 Speaker 1: y'all said, cost the living, right, Oh baby, you got 700 00:41:18,400 --> 00:41:21,200 Speaker 1: all these environmental laws, they just cost me more to 701 00:41:21,280 --> 00:41:23,880 Speaker 1: make sure I'm taking care of earth. That's what y'all said. 702 00:41:24,520 --> 00:41:26,400 Speaker 1: Maybe you ain't have all those laws, you know what 703 00:41:26,440 --> 00:41:28,800 Speaker 1: I'm saying, Maybe we could get this gas a little cheaper. 704 00:41:29,320 --> 00:41:32,960 Speaker 1: Pimping ain't easy. And then that's where your price come. 705 00:41:33,960 --> 00:41:37,680 Speaker 1: So you see how crazy that is. They mess around, 706 00:41:37,719 --> 00:41:41,320 Speaker 1: tell you it's your fault. It's your faults these prices. 707 00:41:41,320 --> 00:41:47,000 Speaker 1: That is, don't blame us, blame your president, blame your laws. 708 00:41:48,239 --> 00:41:52,120 Speaker 1: The only problem is this is an international commodity. So 709 00:41:52,160 --> 00:41:56,160 Speaker 1: it ain't just inflation, it ain't just the president, it 710 00:41:56,280 --> 00:42:01,640 Speaker 1: ain't just the oil industry. It's cap ullism. It's the 711 00:42:01,719 --> 00:42:09,720 Speaker 1: whole systems. It's the whole thing. So when you're feeling 712 00:42:09,719 --> 00:42:14,479 Speaker 1: the pain at the pump, you gotta understand economy. It's 713 00:42:14,719 --> 00:42:21,400 Speaker 1: all of it. So what are some of our solutions? Well, 714 00:42:22,160 --> 00:42:23,719 Speaker 1: like I said, you can go get a better job, 715 00:42:24,600 --> 00:42:28,040 Speaker 1: or we can start lobbying for higher wages for workers. 716 00:42:28,840 --> 00:42:33,280 Speaker 1: We can start talking about clean energy not needing these things. 717 00:42:34,040 --> 00:42:36,480 Speaker 1: We can start talking about these tax rates and try 718 00:42:36,480 --> 00:42:39,160 Speaker 1: to understand like hey, homey, like why are you charging 719 00:42:39,200 --> 00:42:44,040 Speaker 1: this much? And then there's us as consumers. You remember 720 00:42:44,040 --> 00:42:48,480 Speaker 1: beanie babies, I know, right, because we stopped caring. They 721 00:42:48,560 --> 00:42:50,680 Speaker 1: used to cost a lot, they used to be collectors 722 00:42:50,680 --> 00:42:52,719 Speaker 1: on it. Maybe there's a few niche places that you 723 00:42:52,760 --> 00:42:55,360 Speaker 1: can get them for high prices, but we generally don't 724 00:42:55,400 --> 00:42:57,520 Speaker 1: care no more. You know, how you make a price 725 00:42:57,560 --> 00:43:02,480 Speaker 1: go down, stop needing it. What I tell you about, uh, 726 00:43:02,600 --> 00:43:06,200 Speaker 1: the price of crude oil during COVID season, during them lockdowns, 727 00:43:06,239 --> 00:43:09,520 Speaker 1: when nobody was driving or they was like, oh man, 728 00:43:09,600 --> 00:43:12,520 Speaker 1: President Trump got the gas right kesa chump, ain't do nothing. 729 00:43:12,800 --> 00:43:16,520 Speaker 1: Nobody was buying it because nobody needed it. They needed 730 00:43:16,520 --> 00:43:19,600 Speaker 1: to off they wait, that's I mean, it's pretty simple. 731 00:43:20,239 --> 00:43:22,640 Speaker 1: You go to the ice cream truck, all of a sudden, 732 00:43:22,680 --> 00:43:25,040 Speaker 1: something go down with them drumsticks. Don't nobody like them, 733 00:43:25,040 --> 00:43:28,040 Speaker 1: no mo, So you're charging two dollars for them. Drumsticks 734 00:43:28,040 --> 00:43:29,719 Speaker 1: gonna be dumb because all they're gonna do is sit 735 00:43:29,760 --> 00:43:31,919 Speaker 1: on the bottom of your freezer because nobody buying them. 736 00:43:32,280 --> 00:43:34,319 Speaker 1: Guess what I bet you them things go down the 737 00:43:34,360 --> 00:43:38,399 Speaker 1: fifty cents. You feel me where? Okay? Am I being 738 00:43:38,400 --> 00:43:41,279 Speaker 1: a hypocrite? Absolutely? Because guess what, I still got to 739 00:43:41,280 --> 00:43:43,399 Speaker 1: pick up my child today. I still got to feel 740 00:43:43,400 --> 00:43:46,600 Speaker 1: my gas tank. I'm just saying, if I'm gonna shake 741 00:43:46,640 --> 00:43:50,240 Speaker 1: my fist as something, it ain't the damn President. He ain't. 742 00:43:50,239 --> 00:43:53,080 Speaker 1: But one piece of this. If if anybody I'm gonna 743 00:43:53,080 --> 00:43:57,960 Speaker 1: be mad at, it's the industry itself. But the industry 744 00:43:58,000 --> 00:44:01,759 Speaker 1: said something very simple, the same thing the joker said. 745 00:44:02,239 --> 00:44:03,920 Speaker 1: If you're good at something, don't do it for free. 746 00:44:04,800 --> 00:44:07,000 Speaker 1: You mad at me, but you're still buying it. You 747 00:44:07,080 --> 00:44:09,960 Speaker 1: still swipe your card. Question we gotta ask ourselves is 748 00:44:09,960 --> 00:44:13,200 Speaker 1: when is it too much? Neighborhood pimps looking at the 749 00:44:13,239 --> 00:44:15,880 Speaker 1: judge like, yo, you could put me in jail, you 750 00:44:15,880 --> 00:44:18,160 Speaker 1: could put my house in jail. But I know your face. 751 00:44:18,560 --> 00:44:21,960 Speaker 1: You bought one of mine yesterday. I'm only in business 752 00:44:21,960 --> 00:44:28,920 Speaker 1: because you're buying. If you stop buying, I stopped Selling's pimping, 753 00:44:29,040 --> 00:44:33,040 Speaker 1: pimping up with these electric cars, you know, I said, 754 00:44:33,120 --> 00:44:35,919 Speaker 1: And y'are acting like airplanes don't run on fuel either. 755 00:44:35,960 --> 00:44:39,560 Speaker 1: That's gas too they I mean they're buying gas. We're 756 00:44:39,560 --> 00:44:42,480 Speaker 1: gonna stop flying as a nation. Look, I don't know 757 00:44:42,640 --> 00:44:45,839 Speaker 1: it's pimping. I don't I mean, I don't know. I'm 758 00:44:45,880 --> 00:44:48,600 Speaker 1: just saying, if you're gonna shake your fists, shake your 759 00:44:48,640 --> 00:44:53,719 Speaker 1: fists at gestures wildly the whole thing, because at the 760 00:44:53,800 --> 00:44:57,239 Speaker 1: end of the day, this is the price of participation. 761 00:44:57,960 --> 00:45:12,920 Speaker 1: Come on, player hood politics. M M yeah. This here 762 00:45:13,000 --> 00:45:16,560 Speaker 1: thing was recorded by me propaganda in East Low Spoil Heights, 763 00:45:16,680 --> 00:45:21,400 Speaker 1: Los Angeles, California. This mug was mixed, edited, mastered, and 764 00:45:21,560 --> 00:45:26,280 Speaker 1: scored by Matt Osowski. I can totally say his name, guys, 765 00:45:26,360 --> 00:45:28,719 Speaker 1: it was it was just stick. He's won by Matt 766 00:45:28,760 --> 00:45:31,759 Speaker 1: now again because he got two legal situations with the 767 00:45:31,840 --> 00:45:34,640 Speaker 1: name Headlights. Y'all know, common used to be called common sense. 768 00:45:34,719 --> 00:45:39,160 Speaker 1: You know, Tip Ti tips sometimes it happened. Executive produced 769 00:45:39,160 --> 00:45:42,799 Speaker 1: by the one and only Sophie Lectman for a Cool 770 00:45:42,920 --> 00:45:46,960 Speaker 1: Zone Media and the theme music by the one and 771 00:45:47,040 --> 00:45:50,080 Speaker 1: only Gold Tips Gold Tips d J Shawn p So. 772 00:45:50,200 --> 00:45:53,160 Speaker 1: Y'all just remember listen every time you check in. If 773 00:45:53,200 --> 00:45:57,640 Speaker 1: you understand city living, you understand politics. We'll see how 774 00:45:57,680 --> 00:46:04,440 Speaker 1: next week start to start