WEBVTT - 6/23/26: Housing Affordability Crisis, Israel's Nuclear Blackmail Plot 0:00:00.080 --> 0:00:01.599 Hey, guys, Saga and Crystal here. 0:00:01.680 --> 0:00:05.240 Independent media just played a truly massive role in this election, 0:00:05.360 --> 0:00:07.840 and we are so excited about what that means for 0:00:07.880 --> 0:00:08.760 the future of the show. 0:00:08.880 --> 0:00:10.760 This is the only place where you can find honest 0:00:10.760 --> 0:00:13.280 perspectives from the left and the right that simply does 0:00:13.320 --> 0:00:14.680 not exist anywhere else. 0:00:14.760 --> 0:00:17.080 So if that is something that's important to you, please 0:00:17.120 --> 0:00:19.599 go to Breakingpoints dot com. Become a member today and 0:00:19.640 --> 0:00:22.800 you'll get access to our full shows, unedited, ad free, 0:00:22.800 --> 0:00:25.600 and all put together for you every morning in your inbox. 0:00:25.680 --> 0:00:27.560 We need your help to build the future of independent 0:00:27.560 --> 0:00:29.920 news media and we hope to see you at Breakingpoints 0:00:29.960 --> 0:00:36.400 dot Com. Turning now to housing, So this really caught 0:00:36.479 --> 0:00:38.640 my eye. Wanted to break all these numbers down with 0:00:38.720 --> 0:00:39.960 all of you guys. Just put it up here on 0:00:40.000 --> 0:00:42.360 the screen. The Wall Street Journal did an excellent job 0:00:42.400 --> 0:00:45.839 here where they collated a bunch of data which shows 0:00:46.080 --> 0:00:49.680 home ownership costs from twenty nineteen to twenty twenty five. 0:00:49.720 --> 0:00:50.519 So let's go through it. 0:00:50.680 --> 0:00:53.400 So, in terms of the amount of principle costs that 0:00:53.440 --> 0:00:56.600 people are now paying from twenty nineteen to twenty twenty five, 0:00:56.800 --> 0:01:00.160 people are now paying about twenty two percent more or 0:01:00.160 --> 0:01:03.040 in their principal payments than they were back in twenty nineteen. 0:01:03.080 --> 0:01:05.040 And remember this is just twenty twenty five data. It 0:01:05.080 --> 0:01:07.640 doesn't even include twenty twenty six, which has already gone 0:01:07.720 --> 0:01:10.039 higher twenty two percent more when it comes to principle. 0:01:10.240 --> 0:01:11.240 Now, let's look at interest. 0:01:11.360 --> 0:01:14.560 Whenever it comes to interests, people are paying thirty five 0:01:14.640 --> 0:01:18.040 percent more interest, largely because of the increase in overall 0:01:18.040 --> 0:01:20.240 interest rates. Now, all of that makes sense, and it's 0:01:20.240 --> 0:01:23.560 still not that crazy. Property taxes have gone up by 0:01:23.640 --> 0:01:26.480 thirty one percent, makes sense whenever you factor in the 0:01:26.520 --> 0:01:29.640 principal payment and some increase overall in city services. But 0:01:29.760 --> 0:01:33.200 this is where things start to become actually insane. 0:01:33.280 --> 0:01:33.920 Insurance. 0:01:34.120 --> 0:01:39.120 Home insurance costs up seventy two percent from twenty nineteen 0:01:39.319 --> 0:01:42.880 to twenty twenty five. Home maintenance is up by eighty 0:01:43.160 --> 0:01:45.760 five percent, and then the worst number of them all 0:01:46.040 --> 0:01:50.160 emergency repairs, up one hundred and seventy five percent. So 0:01:50.200 --> 0:01:53.080 they say that a home buyer in twenty nineteen could 0:01:53.080 --> 0:01:56.200 expect to spend about twenty thousand dollars a year on 0:01:56.320 --> 0:02:00.800 basic home ownership expenses. By twenty twenty five, annual bill 0:02:00.960 --> 0:02:04.760 is now twenty eight thousand, five hundred, which has massively 0:02:04.800 --> 0:02:08.720 outstripped overall inflation, which is pegged at twenty six percent 0:02:09.080 --> 0:02:11.480 during that same time period just from the consumer Price 0:02:11.520 --> 0:02:14.560 Index by twenty twenty five. Homeowners who wish that they 0:02:14.560 --> 0:02:17.200 could sell and move elsewhere are also staying put turned 0:02:17.200 --> 0:02:20.160 off by the cost of purchasing today. This is one 0:02:20.160 --> 0:02:23.240 of the foremost problems in the so called affordability trap. 0:02:23.400 --> 0:02:26.120 What we also see here is that sales of previously 0:02:26.200 --> 0:02:28.760 owned homes have held around four million a years since 0:02:28.760 --> 0:02:31.919 twenty twenty three, which is the lowest level in decades, 0:02:32.280 --> 0:02:35.120 down from the pre pandemic norm of between five million 0:02:35.280 --> 0:02:36.720 and a million five a year. So if you do 0:02:36.800 --> 0:02:39.760 the math, that's almost one mill that's almost five or 0:02:39.840 --> 0:02:43.280 six million houses that have been kept off of the 0:02:43.320 --> 0:02:47.320 market largely because of these exact traps. From the overall 0:02:47.360 --> 0:02:51.320 monthly insurance payments, taxes, interest and principle, you're now sitting 0:02:51.480 --> 0:02:54.480 roughly around two thousand dollars a month, which if you 0:02:54.520 --> 0:02:56.320 do the math, twenty four thousand. But then you look 0:02:56.360 --> 0:02:58.720 at the overall household income, especially if you look at 0:02:58.720 --> 0:03:02.360 overall household after ten income, you're sitting around fifty percent. 0:03:02.480 --> 0:03:05.960 This makes it impossible, especially with the average home rate. 0:03:06.120 --> 0:03:09.600 The one that really struck me is actually the hoafee. 0:03:09.840 --> 0:03:11.440 I don't know what the hell is going on. 0:03:11.440 --> 0:03:13.640 I don't live it in Hoa, but the average, the 0:03:13.720 --> 0:03:17.079 median HOAFE in twenty twenty one was five hundred bucks. 0:03:17.120 --> 0:03:19.880 The median hoaf in twenty twenty five is seven hundred 0:03:19.880 --> 0:03:21.440 and fifty seven dollars. 0:03:21.760 --> 0:03:25.040 So that's like a gigantic. 0:03:24.200 --> 0:03:27.320 Increase actually just from twenty twenty four to twenty twenty five. 0:03:27.520 --> 0:03:31.120 But my main takeaway from this is about financialization. So 0:03:31.280 --> 0:03:33.200 a friend of mine was taking a look at this 0:03:33.320 --> 0:03:35.600 data and what he pointed out shout out to Fred 0:03:35.600 --> 0:03:38.720 Bauer was if you look at the things that outpace 0:03:39.120 --> 0:03:44.120 overall inflation, it's interest, it's insurance, and that's homemintenance, emergency repairs. 0:03:44.320 --> 0:03:48.119 What do those things have in common? Financialization, the insurance industry, 0:03:48.400 --> 0:03:51.120 the interest obviously is the banks. But at home maintenance 0:03:51.200 --> 0:03:54.560 emergency repairs, that's not just labor costs. It's because in 0:03:54.600 --> 0:03:58.400 the last six years, private equity specifically has been rolling 0:03:58.520 --> 0:04:01.840 up local repair business is plumbing ac many of these, 0:04:02.040 --> 0:04:05.680 especially emergency repairs, and they've realized that because people are 0:04:05.720 --> 0:04:07.920 in dire straits, and they'll have to pay anything if 0:04:07.920 --> 0:04:10.600 they standardize, roll them up, give them, you know, back 0:04:10.720 --> 0:04:13.800 end software and all of that. They can squeeze enormous 0:04:13.840 --> 0:04:16.680 profits out of these homeowners. And that's why the emergency 0:04:16.720 --> 0:04:19.600 repair number is up so high. But finance is the 0:04:19.640 --> 0:04:22.760 bedrock of all of these overall cost increases that you 0:04:22.800 --> 0:04:23.239 could see. 0:04:23.320 --> 0:04:25.240 Yeah, so let me zoom out and make a bigger 0:04:25.240 --> 0:04:28.240 picture point and shout out to Gary's economics who put 0:04:28.279 --> 0:04:30.320 it in these terms in a recent video about Elon 0:04:30.400 --> 0:04:34.840 Musk becoming the world's first trillionaire. When you have trillionaires, 0:04:34.880 --> 0:04:37.520 and he's the first one on paper, but probably not 0:04:37.720 --> 0:04:38.520 the only one. 0:04:38.520 --> 0:04:39.320 It's just now that. 0:04:39.520 --> 0:04:42.480 Spacexipo'd, which actually SpaceX not doing that well today, but 0:04:42.520 --> 0:04:43.840 that's their story for another day. 0:04:43.960 --> 0:04:44.960 Might cover that tomorrow. 0:04:45.240 --> 0:04:49.279 In any case, with the spacexipo, we now officially know 0:04:50.000 --> 0:04:53.880 that he is a trillionaire. You have all of these billionaires. 0:04:54.000 --> 0:04:57.640 You look at the way that these mostly men's wealth 0:04:57.960 --> 0:05:01.320 skyrocketed over the p past several years. 0:05:01.720 --> 0:05:02.880 It is astronomical. 0:05:03.080 --> 0:05:06.039 Just think about the fact that we had in Bernie 0:05:06.040 --> 0:05:09.159 Sanders twenty sixteen campaign, what was his constant refrain the 0:05:09.240 --> 0:05:12.520 millionaires and the billionaires. You're talking about millionaires at this point, 0:05:12.560 --> 0:05:16.000 it's quaint. It's quaint to think about millionaires. Now we're 0:05:16.000 --> 0:05:18.839 talking about the billionaires and the trillionaires. And that's just 0:05:18.880 --> 0:05:22.720 over the course of a decade that that shift has happened. Well, 0:05:22.839 --> 0:05:26.120 when you are someone who has that amount of wealth 0:05:26.440 --> 0:05:30.960 and literally incomprehensible amount of money, A billion dollars is 0:05:30.960 --> 0:05:34.640 an incomprehensible amount of money, A trillion dollars is beyond 0:05:34.640 --> 0:05:37.680 the comprehension of any human being. What do you do, 0:05:37.760 --> 0:05:41.240 and this goes to your point, Soccer. You buy up assets. 0:05:41.520 --> 0:05:45.440 So is it any surprise then that all of these assets, 0:05:45.480 --> 0:05:49.680 including homes, become more and more and more expensive, that 0:05:49.720 --> 0:05:53.520 they find more and more ways to financialize every aspect 0:05:53.560 --> 0:05:57.120 of this. Why because it is money in search of assets, 0:05:57.360 --> 0:05:59.560 and we have money consolidated. 0:05:58.880 --> 0:06:01.240 In the hands of a very few number of people. 0:06:01.440 --> 0:06:03.000 You know, when you have a little more money in 0:06:03.440 --> 0:06:05.919 your pocket, you're not going up and going out and 0:06:05.920 --> 0:06:06.720 buying all these things. 0:06:06.720 --> 0:06:08.479 You're you know, you're able to indulg you maybe you 0:06:08.480 --> 0:06:10.880 go on vacation, You're able to buy steak. 0:06:11.040 --> 0:06:14.680 Right, the average person, it's much more hand and mouth, 0:06:14.760 --> 0:06:17.599 so you're not out there looking to buy up the 0:06:17.800 --> 0:06:22.000 entire world. The more wealth inequality that we have, the 0:06:22.000 --> 0:06:26.640 more that you have trillionaires and one hundred billionaires that 0:06:26.720 --> 0:06:30.560 are dominating the entire economy of the entire globe, the 0:06:30.600 --> 0:06:33.560 more they are going to bid up the price of assets. 0:06:33.839 --> 0:06:36.599 It is inevitable when you think about the way those 0:06:36.680 --> 0:06:40.160 dynamics work. So that is a part of the underlying 0:06:40.160 --> 0:06:43.360 story of why these costs keep going up and up 0:06:43.440 --> 0:06:47.560 and up, and there is no relief in sight. If 0:06:47.560 --> 0:06:50.039 you want, really you have to tax these people. That's 0:06:50.040 --> 0:06:51.760 what you have to do. You have to do a 0:06:51.760 --> 0:06:53.720 wealth text. You have to take some of the world. 0:06:53.839 --> 0:06:56.599 You cannot allow there to be these trillionaires and multi 0:06:56.640 --> 0:07:00.599 multi multi billionaires controlling everything and buying everything up. If 0:07:00.640 --> 0:07:03.480 you are a person who would like to aspire, excuse 0:07:03.520 --> 0:07:06.360 me one day to be able to I don't know, 0:07:06.440 --> 0:07:09.080 own a home or own really anything, if you are 0:07:09.120 --> 0:07:12.880 that person, then you should be in favor of raining 0:07:12.920 --> 0:07:16.720 in the wealth and power of these oligarchs. So I 0:07:16.720 --> 0:07:19.080 think that is a very critical piece of this that 0:07:19.160 --> 0:07:23.520 also oftentimes goes overlooked intentionally, you know, And that's not 0:07:23.520 --> 0:07:27.040 to say that like the sort of abundance agenda of 0:07:27.120 --> 0:07:28.960 deregulation and yimbiism. 0:07:29.000 --> 0:07:30.680 That's not to say that stuff doesn't. 0:07:30.480 --> 0:07:34.960 Matter, but the overarching structure here of these increasing numbers 0:07:35.000 --> 0:07:38.800 of trillionaires and billionaires buying up everything is going to 0:07:38.880 --> 0:07:40.600 make it so that we never get out of this 0:07:40.640 --> 0:07:43.400 doom loop loop until we check their wealth and power. 0:07:43.480 --> 0:07:45.320 There's a demand side and a supply side. That's the 0:07:45.360 --> 0:07:47.480 thing we have to look at both. Let's put D 0:07:47.520 --> 0:07:49.600 three up here on the screen just because I want 0:07:49.600 --> 0:07:51.960 to go through even some more of the math, and 0:07:52.120 --> 0:07:54.280 when you do, it's crazy. Like this is where they 0:07:54.320 --> 0:07:57.360 say that Morgan Stanley is predicting that home buyers will 0:07:57.360 --> 0:08:01.080 face a harsh reset, and mostly they say what it 0:08:01.160 --> 0:08:03.760 points is to this conclusion is that the base case 0:08:03.760 --> 0:08:07.320 projects mortgage payments will have to decline about twenty four 0:08:07.320 --> 0:08:10.040 percent of household income to twenty one percent in the 0:08:10.120 --> 0:08:14.680 coming decade as rates have to moderate over the long term, 0:08:14.720 --> 0:08:17.960 but that will still leave affordability well above the fifteen 0:08:18.000 --> 0:08:20.600 percent average that prevailed in the years after the two 0:08:20.600 --> 0:08:23.320 thousand and seven to two thousand and nine financial crisis. 0:08:23.400 --> 0:08:26.880 The squeeze will reshape ownership in rental dynamics and will 0:08:26.880 --> 0:08:29.840 make it so that aspiring owners will continue to imprize 0:08:30.040 --> 0:08:33.679 more and more of the overall US population. When terms 0:08:33.720 --> 0:08:35.840 of the reset, what they say is that it will 0:08:35.840 --> 0:08:38.560 reset the way specifically that wealth is built in the 0:08:38.600 --> 0:08:41.640 long term, specifically probably for people who are our age 0:08:41.800 --> 0:08:45.480 and more in the millennial demographic, because home ownership was 0:08:45.640 --> 0:08:49.000 the bedrock of wealth building over the postwar period. But 0:08:49.080 --> 0:08:51.880 now when the first time home buyer is some thirty 0:08:51.920 --> 0:08:54.560 six to forty years old, and then the average home 0:08:54.600 --> 0:08:57.520 buyer is like in their fifties, then you have different 0:08:57.520 --> 0:09:01.280 situations where having that lack of apt which will appreciate 0:09:01.320 --> 0:09:04.040 over time, just scrambles the entire way that you think 0:09:04.040 --> 0:09:06.600 about your future, not to mention whenever it comes to 0:09:06.840 --> 0:09:09.480 your community. So I think that that data is really 0:09:09.480 --> 0:09:12.600 really important actually just about home buying and the way 0:09:12.640 --> 0:09:15.480 that assets will move in the future. But I also 0:09:15.559 --> 0:09:18.720 think that whenever it comes to the housing front, it 0:09:18.880 --> 0:09:22.800 shows how the current way that I mean, I really 0:09:22.840 --> 0:09:25.440 struggle with this. I believe in some localism, I really do, 0:09:25.600 --> 0:09:28.520 especially when it comes to data centers. You know, nimbi's 0:09:28.559 --> 0:09:33.520 definitely have a point in their ability, but facility, yeah 0:09:33.800 --> 0:09:37.959 or yeah in your case whatever you want beautification, you know, zoning, 0:09:38.080 --> 0:09:40.800 I really do get it, like I get it whenever 0:09:40.840 --> 0:09:43.400 it comes to what makes a community nice? 0:09:44.000 --> 0:09:47.280 However, are we not at a genuine crisis level? Like 0:09:47.280 --> 0:09:48.160 That's how I start to think. 0:09:48.160 --> 0:09:51.400 And that's when when people start complaining about, oh, like 0:09:51.720 --> 0:09:54.199 this is going to overwhelm you know, ex services. 0:09:54.280 --> 0:09:54.880 I hear you. 0:09:54.920 --> 0:09:56.440 But then we need to make it so that you 0:09:56.520 --> 0:09:58.520 have the housing and you have the services, like there 0:09:58.559 --> 0:10:01.200 needs to be I just read that we spent eighty 0:10:01.520 --> 0:10:04.280 billion dollars on the Iran war, which is create eighty 0:10:04.600 --> 0:10:07.560 billion is what the Pentagon is asking for to recoop 0:10:07.679 --> 0:10:11.120 costs of what the Iran war. That is eighty percent 0:10:11.160 --> 0:10:12.839 of what we spent in twenty years just on the 0:10:12.880 --> 0:10:16.319 Afghan National Security Forces twenty years in Afghanistan on the 0:10:16.360 --> 0:10:19.400 a ANDSF. Is what we just spent in three weeks 0:10:19.440 --> 0:10:22.920 in the war in Iran. That's insanity. So just to 0:10:22.960 --> 0:10:25.160 show you all in terms of like the cost that 0:10:25.160 --> 0:10:27.679 we're dealing with here, maybe some of it could go 0:10:27.760 --> 0:10:31.719 to like an overall homestead fund or builder incentives. You 0:10:31.840 --> 0:10:36.360 need funds up front, then you need tax incentives for 0:10:36.480 --> 0:10:38.880 the builders. You need to make it so that the 0:10:39.120 --> 0:10:41.200 market that is best served for the builder, they have 0:10:41.240 --> 0:10:43.680 an incentive to build the first time starter home. 0:10:43.840 --> 0:10:44.760 You need to make it so. 0:10:44.640 --> 0:10:47.200 They keep the private capital people out of competing for 0:10:47.240 --> 0:10:49.319 said things. But I also think you honestly need a 0:10:49.360 --> 0:10:52.840 mechanism to make and genuinely force in some cases, especially 0:10:52.880 --> 0:10:54.719 in these high cost of living areas, to be able 0:10:54.760 --> 0:10:56.559 to build more housing. And I hear one hundred percent 0:10:56.600 --> 0:10:58.760 of the people who already live there. We're not saying 0:10:58.760 --> 0:11:00.320 you're going to get screwed. We should make sure that 0:11:00.360 --> 0:11:02.520 there's services and all of that too. But I just, 0:11:02.720 --> 0:11:05.079 you know, increasingly, all I hear from the home ownership 0:11:05.120 --> 0:11:07.480 classes like, oh, we can't have that, we can't have that, 0:11:07.760 --> 0:11:09.800 And I'm like, I'm sorry, Like, you know, when you 0:11:09.840 --> 0:11:12.160 have people pull in two three hundred thousand dollars a 0:11:12.240 --> 0:11:13.880 year and they can't even buy a home in a 0:11:13.960 --> 0:11:16.720 high cost of living area, like we're cooked, you know, 0:11:16.760 --> 0:11:18.400 as an overall society. 0:11:18.600 --> 0:11:19.800 Yeah, and you know that. 0:11:20.320 --> 0:11:22.400 So it's it's the housing costs, but it's all the 0:11:22.440 --> 0:11:24.440 other costs too. One of the things we focused on 0:11:24.480 --> 0:11:28.120 a lot is the electricity costs, which have skyrocketed, which 0:11:28.160 --> 0:11:30.160 is also documented in that Wall Street Journal piece. What 0:11:30.200 --> 0:11:32.800 we were talking about, and this again goes back to 0:11:32.880 --> 0:11:35.880 like the oligarchs and their demands, that is the primary 0:11:35.920 --> 0:11:39.120 reason why electricity costs are going up and up and up. 0:11:39.480 --> 0:11:40.400 And I took. 0:11:40.640 --> 0:11:45.800 Notice of this recent development with federal energy regulators. Here's 0:11:45.800 --> 0:11:50.400 the headline here, Federal regulators order grid operators to speed 0:11:50.559 --> 0:11:55.560 power to energy hungry AI data centers. Federal regulators on Thursday, 0:11:55.600 --> 0:11:58.360 this is last week, ordered regional grid operators to help 0:11:58.480 --> 0:12:02.240 large energy users connect more quickly to the nation's inefficient 0:12:02.280 --> 0:12:04.800 and aging electric transmission system, a step they said is 0:12:04.800 --> 0:12:09.320 needed to accommodate surging demand from power hungry artificial intelligence 0:12:09.480 --> 0:12:12.559 data centers. Now they're claiming, oh, don't worry, it's not 0:12:12.600 --> 0:12:15.160 going to add to your costs. Okay, do you believe that? 0:12:15.360 --> 0:12:17.640 Do you believe that? And you're the other thing, it's 0:12:17.679 --> 0:12:21.160 not just about the cost. We just literally do not 0:12:21.440 --> 0:12:26.240 generate enough electricity to deal with the amount that these 0:12:26.920 --> 0:12:30.080 you know, the operators that are the major AI tech 0:12:30.120 --> 0:12:33.480 companies what they are pushing towards. We do not have 0:12:33.559 --> 0:12:37.440 that level of electricity generation. So if we're having to 0:12:38.200 --> 0:12:40.440 if there are going to be blackouts if we're going 0:12:40.480 --> 0:12:45.600 to have to ration electricity generation means, who do you 0:12:45.720 --> 0:12:49.240 think is going to be prioritized in that situation. It 0:12:49.280 --> 0:12:51.600 reminds me very much of when we had the Flint 0:12:51.600 --> 0:12:55.600 water crisis and the FORD and GM were like, Hey, 0:12:55.640 --> 0:12:57.720 this new water is like corroning our parts. 0:12:57.800 --> 0:13:00.320 We can't do like you're destroying our business. 0:13:00.760 --> 0:13:03.439 The government was quick to, oh, well, don't worry, we'll 0:13:03.440 --> 0:13:06.000 switch you back to the other system. 0:13:05.720 --> 0:13:06.480 We got you. 0:13:07.000 --> 0:13:10.959 Meanwhile, people and their children were literally being lead poisoned 0:13:11.440 --> 0:13:16.679 every day and it took years before that was addressed. 0:13:16.800 --> 0:13:19.200 It's going to be the same dynamic here, right The 0:13:19.240 --> 0:13:21.440 people with the money and the power are. 0:13:21.320 --> 0:13:23.240 Going to get their needs met first. 0:13:23.600 --> 0:13:26.760 And so this to me is one emblem of the 0:13:26.800 --> 0:13:29.240 direction that the federal government and a lot of the 0:13:29.240 --> 0:13:31.800 state governments are going to go in as well, where 0:13:31.840 --> 0:13:34.200 they are being prioritized. Oh, you're a giant new data 0:13:34.240 --> 0:13:36.199 center and you need to be connected to the grid. 0:13:36.520 --> 0:13:38.400 Even though we you know this is going to spike 0:13:38.800 --> 0:13:43.400 energy rates and electricity rates for consumers across this entire region. 0:13:43.679 --> 0:13:46.920 Don't worry. We've got your back. We will fast track 0:13:47.280 --> 0:13:50.520 your ability to connect into the grid with no requirement 0:13:50.600 --> 0:13:54.280 that we're you know, building out additional electricity generation needs. 0:13:54.559 --> 0:13:57.280 So it is this dynamic which will continue to make 0:13:57.320 --> 0:13:59.880 costs higher and higher and higher across the board. 0:14:00.120 --> 0:14:01.680 And I will just point to the story that I 0:14:01.720 --> 0:14:05.319 relayed last time, our last show about Sterling, Virginia, where 0:14:05.520 --> 0:14:09.760 this exact situation happened. Those generators with the extreme wine 0:14:09.880 --> 0:14:12.680 which were overwhelming the noise in the neighborhood. 0:14:12.720 --> 0:14:15.000 They were told it would only be on temporarily. 0:14:15.200 --> 0:14:17.199 The generators have now been on for over a month, 0:14:17.360 --> 0:14:19.440 for over a year, so you could see and they 0:14:19.480 --> 0:14:23.160 have these residents have no recourse. Are sitting there with 0:14:23.320 --> 0:14:28.160 multi like with loud hearing, damage level noise, perpetuating the 0:14:28.280 --> 0:14:29.800 entire neighborhood. 0:14:29.440 --> 0:14:32.160 That for over a year with zero recourse. 0:14:32.200 --> 0:14:34.960 So whenever it comes to these promises from the electricities, 0:14:35.320 --> 0:14:38.640 from the electricity you utilities, oh it's not going to increase. 0:14:38.720 --> 0:14:41.359 The truth is, you can see, this is about priority 0:14:41.400 --> 0:14:43.960 and they need Look, they need these data setters to 0:14:44.000 --> 0:14:45.920 come online. At the end of the day, that's the 0:14:45.960 --> 0:14:48.160 only thing powering the American stockhol hole. 0:14:48.400 --> 0:14:50.440 It's at every entire economy. 0:14:50.520 --> 0:14:52.920 So if that doesn't work out it all goes bust. 0:14:53.240 --> 0:14:54.800 So it just makes it so that at the end 0:14:54.800 --> 0:14:57.000 of the day they're going to get the preferential treatment 0:14:57.240 --> 0:14:58.840 the rates. And yeah, if we're ever in a power 0:14:58.880 --> 0:15:01.720 generation crisis, we all know which way it's going to go, 0:15:01.840 --> 0:15:03.920 and you can only take it back one way, which 0:15:03.960 --> 0:15:06.560 is democracy. All right, So we have some great guests 0:15:06.600 --> 0:15:09.360 dating by the Blowback Pod to talk about their Special 0:15:09.400 --> 0:15:12.200 Relationship series on Israel and the United States. 0:15:12.320 --> 0:15:12.960 Let's get to it. 0:15:15.560 --> 0:15:18.120 There's been a lot in the news lately and a 0:15:18.160 --> 0:15:20.480 lot that is quite relevant about our quote unquote special 0:15:20.520 --> 0:15:23.760 relationship with the nation state of Israel. So luckily for us, 0:15:23.800 --> 0:15:26.080 we are joined by two experts. Today we've got Brennan 0:15:26.160 --> 0:15:29.240 James and Noah Colwyn, co hosts of the Blowback Pod, 0:15:29.560 --> 0:15:32.920 and they have just released right now for premium subscribers 0:15:33.000 --> 0:15:36.960 a special edition called No Daylight that looks at the 0:15:37.000 --> 0:15:41.280 historical trajectory of the US Israel relationship. It is fantastic. 0:15:41.280 --> 0:15:43.640 Everybody go and subscribe. Gentlemen, welcome to the show. 0:15:43.720 --> 0:15:46.560 Good to see you guys, Thank you, thanks for having us. 0:15:46.640 --> 0:15:49.040 Yeah, of course, so let's go ahead and start by 0:15:49.080 --> 0:15:51.080 taking a listen to some of the things that President 0:15:51.080 --> 0:15:54.920 Trump has said lately about his relationship with Benjamin Netanyahu and. 0:15:54.920 --> 0:15:57.720 Baby Nettnill, who worked well with me. But he will 0:15:57.760 --> 0:16:00.320 tell you we're the ones with the guns, the ones 0:16:00.320 --> 0:16:02.800 with a whole deal, We're the ones with the beat 0:16:02.800 --> 0:16:06.240 two bombers, et cetera. If it weren't for Donald Trump, 0:16:07.000 --> 0:16:12.520 Israel would have been eviscerated. It's a relationship with Nan Yaho's. 0:16:12.560 --> 0:16:14.360 It's good, but we have to keep them a little bit, 0:16:14.520 --> 0:16:17.320 uh sane. 0:16:17.600 --> 0:16:20.960 Are you going to be able to control Israel from 0:16:21.120 --> 0:16:22.200 attacking Lebanon? 0:16:22.360 --> 0:16:26.160 Yeah? I will be. I mean I wonder, Uh. They 0:16:26.200 --> 0:16:29.640 have a lot of respect for me, and they do 0:16:29.680 --> 0:16:30.360 as I say. 0:16:30.600 --> 0:16:34.200 Mister Bya, who happens to be a good man, gets 0:16:34.240 --> 0:16:37.440 a little excited sometimes, but he happens to be a 0:16:37.560 --> 0:16:40.480 very good man. We've had an amazing partnership. He's been 0:16:40.520 --> 0:16:43.800 an amazing Prime minister who we have a little dispute 0:16:43.800 --> 0:16:45.600 over Lebanon, and I say, you can do it a 0:16:45.600 --> 0:16:48.640 little softer touch. Maybe you don't have to knock down 0:16:48.640 --> 0:16:51.360 a building every time somebody walks into it. That's from 0:16:51.400 --> 0:16:55.400 his bullah. But it's been an amazing partnership. But he 0:16:55.440 --> 0:16:57.560 will say, we're the big partner and he's the very 0:16:57.600 --> 0:16:58.240 small partner. 0:16:58.280 --> 0:16:58.960 And that's true. 0:17:00.000 --> 0:17:01.720 Well, I'll start with you, what have you made of 0:17:01.760 --> 0:17:05.040 these comments from Trump? Also, more critically the comments from JD. 0:17:05.200 --> 0:17:07.800 Vance. Do you think this split with Israel is real? 0:17:08.680 --> 0:17:12.840 Uh, that's a great question. I think that this split 0:17:12.920 --> 0:17:16.080 is an inflection point. I don't necessarily know if I 0:17:16.080 --> 0:17:18.760 would say that it's real in the way that people 0:17:18.840 --> 0:17:23.520 necessarily like the at least popular sentiment would like it 0:17:23.560 --> 0:17:27.120 to be, just generally because of the contempt towards Israel 0:17:27.480 --> 0:17:31.520 and the Naicinaio government. But I do believe that what 0:17:31.560 --> 0:17:34.600 this shows and what it indicates and what it surfaces, 0:17:34.640 --> 0:17:36.119 And this is actually part of the point of our 0:17:36.160 --> 0:17:40.800 mini series is that we're interested in examining, like, well, okay, 0:17:40.800 --> 0:17:43.640 how do these moments of daylight emerge when it's clear 0:17:43.680 --> 0:17:47.120 that the US and Israel have divergent interests, and how 0:17:47.200 --> 0:17:49.600 is it then that they get sutured back shut? And 0:17:49.640 --> 0:17:51.720 I would argue that at this time, when I say 0:17:51.720 --> 0:17:54.200 we're at an inflection point, we're at a moment where 0:17:54.240 --> 0:17:58.000 we're figuring out, okay, is this going to be one 0:17:58.000 --> 0:17:59.840 of those moments as it has been for most of 0:17:59.880 --> 0:18:03.119 the past eighty years, where something gets stitch shut back together, 0:18:03.640 --> 0:18:05.879 or is this actually going to be part of a 0:18:06.080 --> 0:18:10.800 longer process initiated since October seventh, twenty twenty three, where 0:18:10.880 --> 0:18:15.119 the US and Israel's strategic partnership is perhaps you know, 0:18:15.600 --> 0:18:18.800 coming undone or at the very least significantly changing in 0:18:18.880 --> 0:18:20.200 character from how it's been before. 0:18:20.640 --> 0:18:24.120 Yeah, Brennan, let's talk here a little bit zooming out 0:18:24.800 --> 0:18:27.800 how it pertains to your guys' season, going back from 0:18:27.880 --> 0:18:31.120 the beginning. I have alluded to this in the past, 0:18:31.160 --> 0:18:35.160 about Truman's haberdashery partner and kind of the very strange 0:18:35.480 --> 0:18:39.200 circumstances in which the United States even became entwined with Israel. 0:18:39.240 --> 0:18:41.159 But why don't you take the audience through some of that. 0:18:42.320 --> 0:18:46.440 Well, it's a fascinating thing. I think many people will 0:18:46.440 --> 0:18:49.560 be caught off guard if they listen, particularly if they're younger, 0:18:49.720 --> 0:18:52.800 they're unfamiliar with some of this history. Harry Truman, of course, 0:18:53.600 --> 0:18:56.400 was the president, the US president that recognized the state 0:18:56.400 --> 0:18:59.359 of Israel when it was founded in forty eight, but 0:18:59.560 --> 0:19:03.919 for several years before that, from nineteen forty five onwards 0:19:03.920 --> 0:19:06.680 the beginning of his presidency, he was not so keen 0:19:06.720 --> 0:19:08.760 on there being a Jewish state in the Middle East. 0:19:09.040 --> 0:19:12.560 He opposed it. He told the Zionist lobby, he opposed it. 0:19:12.560 --> 0:19:15.560 He told his own advisors, he opposed it. He told 0:19:15.600 --> 0:19:17.639 the public. He opposed it. In one way or another. 0:19:17.800 --> 0:19:20.400 He thought it was a death no state, alternatively called 0:19:20.400 --> 0:19:23.040 it neth no state or theocracy, neither of which were 0:19:23.040 --> 0:19:27.320 ideals that he felt were worthy of lending American support to. 0:19:27.880 --> 0:19:31.159 The problem was is he had a sort of a 0:19:31.160 --> 0:19:35.400 showdown in his own cabinet between his foreign policy establishment, 0:19:35.840 --> 0:19:38.520 which at the very top was led by no less 0:19:38.520 --> 0:19:42.880 than George Marshwood, decorated general from World War Two. None 0:19:42.920 --> 0:19:46.040 of them supported, virtually none of them supported, and certainly 0:19:46.040 --> 0:19:48.520 no one high up supported the foundation of a Jewish state. 0:19:49.320 --> 0:19:52.800 And they were even cold warriors, right wingers who said, 0:19:54.480 --> 0:19:57.280