1 00:00:00,080 --> 00:00:01,599 Speaker 1: Hey, guys, Saga and Crystal here. 2 00:00:01,680 --> 00:00:05,200 Speaker 2: Independent media just played a truly massive role in this election, 3 00:00:05,360 --> 00:00:07,840 Speaker 2: and we are so excited about what that means for 4 00:00:07,880 --> 00:00:08,720 Speaker 2: the future of this show. 5 00:00:08,880 --> 00:00:10,760 Speaker 1: This is the only place where you can find honest 6 00:00:10,760 --> 00:00:13,239 Speaker 1: perspectives from the left and the right that simply does 7 00:00:13,320 --> 00:00:14,680 Speaker 1: not exist anywhere else. 8 00:00:14,720 --> 00:00:17,080 Speaker 2: So if that is something that's important to you, please 9 00:00:17,120 --> 00:00:19,599 Speaker 2: go to Breakingpoints dot com. Become a member today and 10 00:00:19,640 --> 00:00:22,800 Speaker 2: you'll get access to our full shows, unedited, ad free, 11 00:00:22,800 --> 00:00:25,600 Speaker 2: and all put together for you every morning in your inbox. 12 00:00:25,680 --> 00:00:27,560 Speaker 1: We need your help to build the future of independent 13 00:00:27,560 --> 00:00:29,920 Speaker 1: news media and we hope to see you at Breakingpoints 14 00:00:29,960 --> 00:00:36,519 Speaker 1: dot com. Turning now to Venezuela, some major comments from 15 00:00:36,520 --> 00:00:41,400 Speaker 1: the Secretary of Energy about it definitely running Venezuela's oil companies. 16 00:00:41,560 --> 00:00:44,120 Speaker 1: He was confronted on it on Capitol Hill. Here's what 17 00:00:44,159 --> 00:00:44,800 Speaker 1: he had to say. 18 00:00:45,080 --> 00:00:48,080 Speaker 3: Narrative in Venezuela that you are stealing our way. 19 00:00:48,680 --> 00:00:50,000 Speaker 4: I have not heard that narrative. 20 00:00:50,000 --> 00:00:54,600 Speaker 3: I've seen celebrations in the street libre Venezuela out. I 21 00:00:54,640 --> 00:00:57,320 Speaker 3: think people are thrilled. They've lived under between chob zer 22 00:00:57,360 --> 00:01:01,080 Speaker 3: Maduro twenty six years in a brutal dick tatorship that's 23 00:01:01,200 --> 00:01:04,319 Speaker 3: only devastated that country and hurt the whole hemisphere. So 24 00:01:04,400 --> 00:01:06,560 Speaker 3: I've not heard that narrative at all, And of course 25 00:01:06,560 --> 00:01:08,959 Speaker 3: if it's that narratives out there, it's untrue. We're just 26 00:01:09,080 --> 00:01:11,800 Speaker 3: controlling the flow of revenues from their oil. 27 00:01:12,319 --> 00:01:15,480 Speaker 1: We're just controlling the flow of revenue from their oil's 28 00:01:15,520 --> 00:01:16,680 Speaker 1: not taking over. 29 00:01:16,920 --> 00:01:21,080 Speaker 4: The celebration thing too, Like, yeah, we focused on it. 30 00:01:21,600 --> 00:01:25,080 Speaker 1: Yeah, that's right, because you know, people, I got an email, 31 00:01:25,319 --> 00:01:27,559 Speaker 1: Why did you guys care so much about the celebrations. 32 00:01:27,600 --> 00:01:30,039 Speaker 1: I'm like, because I know how this stuff works is 33 00:01:30,040 --> 00:01:32,000 Speaker 1: that it goes into people. Oh didn't you see the 34 00:01:32,080 --> 00:01:35,560 Speaker 1: video of people in Buenos Airace or whatever. We're in 35 00:01:35,600 --> 00:01:39,240 Speaker 1: Miami and Durral it's like, yeah, on the streets of Venezuela, 36 00:01:39,760 --> 00:01:43,800 Speaker 1: very very different. It's like armed dudes who are going 37 00:01:43,880 --> 00:01:46,760 Speaker 1: trying to round up anybody who actually did celebrate, that's right, 38 00:01:46,800 --> 00:01:48,880 Speaker 1: and then a lot of people who are actively angry 39 00:01:49,200 --> 00:01:51,240 Speaker 1: that this all happened, so a little bit different. 40 00:01:51,280 --> 00:01:54,200 Speaker 2: Yeah, people's bones are getting checked by like, you know, 41 00:01:54,440 --> 00:01:57,200 Speaker 2: armed militias to see if they sent any text message 42 00:01:57,240 --> 00:02:01,040 Speaker 2: that was supportive of Madora being kidnapped. So oh, yeah, so, 43 00:02:01,920 --> 00:02:04,120 Speaker 2: you know, not great to be in the opposition. 44 00:02:03,800 --> 00:02:04,440 Speaker 4: There right now. 45 00:02:04,800 --> 00:02:06,480 Speaker 1: Totally, Let's put the next one up here, because this 46 00:02:06,520 --> 00:02:10,040 Speaker 1: is the actual story, is about the quote control indefinitely 47 00:02:10,320 --> 00:02:13,799 Speaker 1: from the Secretary of Energy. He says that after the 48 00:02:13,880 --> 00:02:16,480 Speaker 1: United States will sell Venezuelan oil after completing sales of 49 00:02:16,520 --> 00:02:19,520 Speaker 1: the crude currently accumulated that are currently in storage, it 50 00:02:19,520 --> 00:02:23,360 Speaker 1: will then be deposited into accounts controlled by the Venezuelan 51 00:02:23,400 --> 00:02:25,720 Speaker 1: govern or, by the US government, which will then flow 52 00:02:25,800 --> 00:02:30,080 Speaker 1: back into Venezuela to benefit the Venezuelan people instead of 53 00:02:30,080 --> 00:02:32,120 Speaker 1: the oil being blockaded. We're going to let the oil 54 00:02:32,160 --> 00:02:34,959 Speaker 1: flow to US refineries and around the world to bring 55 00:02:35,000 --> 00:02:37,360 Speaker 1: better oil supplies, but those have to be done by 56 00:02:37,440 --> 00:02:39,920 Speaker 1: the US government. We're going to market the crude first, 57 00:02:39,960 --> 00:02:42,760 Speaker 1: this backed up stored oil, and then definitely going forward 58 00:02:42,960 --> 00:02:46,600 Speaker 1: sell the production that comes out of Venezuela into the marketplace. 59 00:02:46,600 --> 00:02:50,080 Speaker 1: I mean, arguably that is the most important and direct 60 00:02:50,240 --> 00:02:55,960 Speaker 1: effectively nationalization of the entire Venezuelan oil industry. Trump is 61 00:02:56,000 --> 00:02:59,960 Speaker 1: saying for now that the Venezuelans have basically agreed to this, 62 00:03:00,080 --> 00:03:03,400 Speaker 1: they haven't confirmed any of it per se, and it 63 00:03:03,440 --> 00:03:05,919 Speaker 1: may work, you know, in the interim, with the stored 64 00:03:05,960 --> 00:03:08,240 Speaker 1: up amount of oil and the limited amount of capacity, 65 00:03:08,520 --> 00:03:11,760 Speaker 1: the big question is going to be, I mean, and 66 00:03:11,800 --> 00:03:14,160 Speaker 1: I think this is one where look, it is possible, 67 00:03:14,440 --> 00:03:16,800 Speaker 1: but are the Venezuelan people just really going to take this? 68 00:03:17,040 --> 00:03:19,720 Speaker 1: Like it just seems very unlikely if you look at 69 00:03:19,720 --> 00:03:23,639 Speaker 1: the entire history of colonization and of everything that unless 70 00:03:23,840 --> 00:03:26,400 Speaker 1: that they're not only in control, but they're getting a 71 00:03:26,440 --> 00:03:29,360 Speaker 1: pretty significant amount of revenue, that this is not going 72 00:03:29,440 --> 00:03:32,760 Speaker 1: to be a long standing arrangement. And reportedly, you know, 73 00:03:32,880 --> 00:03:35,720 Speaker 1: yesterday Trump sat for some four hour interview with the 74 00:03:35,760 --> 00:03:37,640 Speaker 1: New York Times. He said, we could stay there for 75 00:03:37,800 --> 00:03:41,200 Speaker 1: years down in Venezuela setting up, by the way, no 76 00:03:41,320 --> 00:03:45,560 Speaker 1: democratic transition more likely, kind of solidification of the current 77 00:03:45,680 --> 00:03:49,960 Speaker 1: Maduro regime under Delcey Rodriguez and the security apparatus, so 78 00:03:50,000 --> 00:03:53,640 Speaker 1: that means more repression. But the yeah, it just just 79 00:03:53,640 --> 00:03:56,400 Speaker 1: just seems so completely untenable. You're only in power for 80 00:03:56,440 --> 00:03:58,800 Speaker 1: three more years. He even acknowledged it's going to take 81 00:03:58,920 --> 00:04:01,960 Speaker 1: years to build out the oil infrastructure of the country 82 00:04:02,080 --> 00:04:05,680 Speaker 1: to even marginally increase it from its very low production 83 00:04:06,040 --> 00:04:07,880 Speaker 1: of where it is right now, and then you just 84 00:04:07,920 --> 00:04:11,760 Speaker 1: have the general instability of trying to run this country 85 00:04:11,800 --> 00:04:15,840 Speaker 1: by proxy, you know from Washington. And yes, you know, 86 00:04:15,920 --> 00:04:18,240 Speaker 1: the immediate sanctions relief, it will be a boon to 87 00:04:18,279 --> 00:04:22,520 Speaker 1: the Venezuelan economy immediately because sanctions have what I mean 88 00:04:22,600 --> 00:04:25,240 Speaker 1: ultimately will crush their oil industry and crush them, So 89 00:04:25,320 --> 00:04:28,600 Speaker 1: maybe they will be okay with it. But more broadly, 90 00:04:28,760 --> 00:04:31,159 Speaker 1: I mean, you know, you are literally looking at a 91 00:04:31,200 --> 00:04:35,960 Speaker 1: lifting the sanction and a nationalization of their entire oil 92 00:04:36,040 --> 00:04:40,040 Speaker 1: industry and selling it going forward. Just historically, again, most 93 00:04:40,080 --> 00:04:41,800 Speaker 1: countries just don't sit there and take it. I mean, 94 00:04:41,880 --> 00:04:44,360 Speaker 1: would you take it? Would would I take it? I 95 00:04:44,480 --> 00:04:46,400 Speaker 1: probably wouldn't, and most people wouldn't either. 96 00:04:46,520 --> 00:04:50,360 Speaker 2: There's a reason why this kind of direct colonization went 97 00:04:50,400 --> 00:04:53,039 Speaker 2: out of fashion, and it's not because the you know, 98 00:04:53,120 --> 00:04:55,720 Speaker 2: great powers decided out of the goodness of their hearts 99 00:04:55,800 --> 00:04:58,039 Speaker 2: that this wasn't something that they wanted to do anymore. 100 00:04:58,279 --> 00:04:59,000 Speaker 4: They couldn't afford it. 101 00:04:59,040 --> 00:05:01,120 Speaker 2: There was too much local res existence, and so they 102 00:05:01,160 --> 00:05:04,599 Speaker 2: move to a more modern technology of colonization where it's like, okay, 103 00:05:04,640 --> 00:05:07,280 Speaker 2: well we'll use these other financial levers, especially the United 104 00:05:07,320 --> 00:05:09,480 Speaker 2: States America set up all of this, you know, post 105 00:05:09,480 --> 00:05:12,840 Speaker 2: war financial infrastructure and the international institutions. 106 00:05:12,320 --> 00:05:13,320 Speaker 4: To benefit us. 107 00:05:13,600 --> 00:05:15,800 Speaker 2: So it's like, oh, we can get all the benefits 108 00:05:15,800 --> 00:05:18,800 Speaker 2: of the extraction without having to own all of the 109 00:05:18,920 --> 00:05:22,159 Speaker 2: like local tunnel and deal with these uprisings, et cetera. 110 00:05:22,560 --> 00:05:25,320 Speaker 2: So in effect, we're going back to this like very 111 00:05:25,360 --> 00:05:30,320 Speaker 2: retro grade technology which is completely outdated. And I think 112 00:05:30,440 --> 00:05:35,280 Speaker 2: Trump really believes that because he did this one successful 113 00:05:35,360 --> 00:05:40,000 Speaker 2: like strike and kidnapping operation, that now he's just going 114 00:05:40,080 --> 00:05:43,800 Speaker 2: to be able to very easily control all of Venezuela. 115 00:05:44,240 --> 00:05:47,120 Speaker 2: And that just seems insane. I mean, that seems like 116 00:05:47,160 --> 00:05:50,559 Speaker 2: a complete and utter fantasy. The world does not work 117 00:05:50,720 --> 00:05:54,279 Speaker 2: in this very simple way. You think just because you 118 00:05:54,400 --> 00:05:56,560 Speaker 2: did this one action, that's going to be enough to 119 00:05:56,600 --> 00:06:00,800 Speaker 2: compel the behavior of this state indefinitely, not to mention, 120 00:06:01,200 --> 00:06:03,000 Speaker 2: you know. Then there's the other piece of this too, 121 00:06:03,120 --> 00:06:06,200 Speaker 2: which is any oil company that you know is wanting 122 00:06:06,640 --> 00:06:09,400 Speaker 2: is being offered the chance to go into Venezuela. They're 123 00:06:09,440 --> 00:06:14,160 Speaker 2: asking the government for guarantees and for financing, taxpayer financing 124 00:06:14,360 --> 00:06:17,479 Speaker 2: for the buildout that would be required because the infrastructure 125 00:06:17,560 --> 00:06:20,240 Speaker 2: is so degraded, because it would take so, you know, 126 00:06:20,320 --> 00:06:23,120 Speaker 2: such a significant amount of investment billions and billions to 127 00:06:23,200 --> 00:06:28,440 Speaker 2: dollars over years to bring significant Venezuela pumping capacity back online. 128 00:06:28,760 --> 00:06:32,600 Speaker 2: So there's just a lot of pitfalls here, a lot 129 00:06:32,600 --> 00:06:34,000 Speaker 2: of pitfalls and a lot of questions. I mean, the 130 00:06:34,000 --> 00:06:36,719 Speaker 2: other question is there were reports that they wanted to 131 00:06:36,760 --> 00:06:39,480 Speaker 2: whatever revenue is brought in, they don't want to put 132 00:06:39,480 --> 00:06:42,080 Speaker 2: it in the US Treasury. They want to hold it 133 00:06:42,160 --> 00:06:44,000 Speaker 2: in private bank accounts. 134 00:06:45,120 --> 00:06:45,520 Speaker 4: That true. 135 00:06:45,960 --> 00:06:48,360 Speaker 1: They deny that that Trump can well. 136 00:06:48,279 --> 00:06:48,880 Speaker 4: They sort of did. 137 00:06:49,240 --> 00:06:52,880 Speaker 2: They actually didn't directly deny it, but that you know, 138 00:06:53,240 --> 00:06:56,760 Speaker 2: so who has control over that? Again, like there seems 139 00:06:56,800 --> 00:06:59,800 Speaker 2: to be this fantasy that we the American people are 140 00:06:59,800 --> 00:07:02,000 Speaker 2: going to own this, we are going to benefit directly, 141 00:07:02,120 --> 00:07:05,120 Speaker 2: and you know, it's possible there's some reduction of prices 142 00:07:05,120 --> 00:07:07,560 Speaker 2: at the pump or something, but this is largely for 143 00:07:07,600 --> 00:07:10,320 Speaker 2: the benefit of elites. This is like, you know, a 144 00:07:10,360 --> 00:07:13,800 Speaker 2: seizure for the benefit of like Exonomobile and Paul Singer 145 00:07:13,880 --> 00:07:17,200 Speaker 2: and Sitgo and whoever else stands you know, at the 146 00:07:17,240 --> 00:07:19,560 Speaker 2: top of the chain to really benefit from this. And 147 00:07:19,600 --> 00:07:22,560 Speaker 2: then for some of those companies as well, they're not 148 00:07:22,640 --> 00:07:24,560 Speaker 2: even sure that they want to get involved with that 149 00:07:24,640 --> 00:07:25,880 Speaker 2: that to directly benefit too. 150 00:07:26,520 --> 00:07:29,560 Speaker 1: The key point is, and I saw this today, is 151 00:07:29,600 --> 00:07:32,080 Speaker 1: that oil companies who are expected to meet at the 152 00:07:32,080 --> 00:07:36,000 Speaker 1: White House tomorrow are like, we need a multi year guarantee, 153 00:07:36,480 --> 00:07:39,960 Speaker 1: multi year guarantee, and that foreign policy won't change, which 154 00:07:40,400 --> 00:07:43,720 Speaker 1: you can't expect that from the current administration because that 155 00:07:43,800 --> 00:07:46,360 Speaker 1: literally doesn't. In fact, you can't really expect that from 156 00:07:46,400 --> 00:07:51,120 Speaker 1: any administration unless Congress literally were to declare that we 157 00:07:51,280 --> 00:07:54,440 Speaker 1: are going to finance this operation indefinitely. 158 00:07:54,560 --> 00:07:54,720 Speaker 3: You know. 159 00:07:54,760 --> 00:07:57,120 Speaker 1: I was thinking about this and kind of the interesting way. 160 00:07:57,400 --> 00:08:00,440 Speaker 1: One of the reasons that one of the things that 161 00:08:00,600 --> 00:08:03,440 Speaker 1: usually happens when you explicitly decide you need to be 162 00:08:03,480 --> 00:08:06,320 Speaker 1: an empire, like we did after World War Two, Well, 163 00:08:06,400 --> 00:08:08,520 Speaker 1: what do you need to run an empire? You need 164 00:08:08,560 --> 00:08:11,720 Speaker 1: a permanent bureaucracy. By definition, it's called the State Department, 165 00:08:11,760 --> 00:08:15,880 Speaker 1: the CIA, the Defense Department. You need a vast array 166 00:08:16,160 --> 00:08:18,480 Speaker 1: of people who don't change. This is what happened in 167 00:08:18,520 --> 00:08:21,160 Speaker 1: the British Empire. You know, the government may change liberal 168 00:08:21,280 --> 00:08:25,320 Speaker 1: or conservative, but the empire itself was always explicitly managed. 169 00:08:25,480 --> 00:08:27,920 Speaker 1: It's just that the governance departments at the very very 170 00:08:27,960 --> 00:08:31,360 Speaker 1: top would occasionally change hands. But the build out of 171 00:08:31,360 --> 00:08:34,200 Speaker 1: that bureaucracy and of that deep state. Of what we've 172 00:08:34,800 --> 00:08:38,080 Speaker 1: long I think left and now right are kind of 173 00:08:38,160 --> 00:08:41,880 Speaker 1: united against, is the very idea of a permanent bureaucracy 174 00:08:42,000 --> 00:08:44,120 Speaker 1: which works against the interest of its people, which wants 175 00:08:44,160 --> 00:08:47,880 Speaker 1: to enrich itself, which wants to run far away lands, 176 00:08:47,880 --> 00:08:51,720 Speaker 1: and to meddle. Ultimately, that is kind of entrenching the 177 00:08:51,880 --> 00:08:55,040 Speaker 1: very thing that Trump originally was running against, the idea 178 00:08:55,120 --> 00:08:57,080 Speaker 1: of the swamp and of the deep state. And that's 179 00:08:57,080 --> 00:09:01,160 Speaker 1: why one of the reasons that arch national in the past, 180 00:09:01,200 --> 00:09:05,240 Speaker 1: we're deeply skeptical of colonization. They used to say, we 181 00:09:05,320 --> 00:09:07,600 Speaker 1: can have a republic or we can have an empire, 182 00:09:07,640 --> 00:09:10,320 Speaker 1: but you can't have both, because what they were watching 183 00:09:10,720 --> 00:09:13,960 Speaker 1: was the very way that the aristocracy in Britain would 184 00:09:14,120 --> 00:09:18,000 Speaker 1: use the empire to solidify its control over the domestic 185 00:09:18,080 --> 00:09:21,000 Speaker 1: population and to run it and to enrich it for itself. 186 00:09:21,040 --> 00:09:23,120 Speaker 1: And I think that that is ultimately one of the 187 00:09:23,160 --> 00:09:26,280 Speaker 1: reasons why the way that we would traditionally run empire, 188 00:09:26,600 --> 00:09:29,040 Speaker 1: like you're saying, you know, look, you know, to deny 189 00:09:29,080 --> 00:09:32,000 Speaker 1: where an empire is ridiculous, obviously, with foreign outposts and 190 00:09:33,000 --> 00:09:36,679 Speaker 1: preferential trade deals or you know, international norms which are 191 00:09:36,720 --> 00:09:40,600 Speaker 1: totally fake and only enforced to the benefit of the US. 192 00:09:41,120 --> 00:09:44,640 Speaker 1: It's not just about that per se. It was an acknowledgment, 193 00:09:44,840 --> 00:09:47,400 Speaker 1: as you just said, of being able to try and 194 00:09:47,480 --> 00:09:50,160 Speaker 1: to do this in a different way while though retaining 195 00:09:50,520 --> 00:09:54,120 Speaker 1: kind of the unelected bureaucratic class. And I think looking 196 00:09:54,200 --> 00:09:57,280 Speaker 1: at this, it's going to solidify more of this idea 197 00:09:57,320 --> 00:09:59,720 Speaker 1: where the Secretary of Energy is now trying to of 198 00:09:59,760 --> 00:10:03,200 Speaker 1: our energy is try to manage the Venezuelan oil supply. 199 00:10:03,320 --> 00:10:06,960 Speaker 1: And in general, all this leads to is more enmeshment 200 00:10:07,200 --> 00:10:09,760 Speaker 1: and more problems. So, for example, when the Venezuelan or 201 00:10:09,760 --> 00:10:12,400 Speaker 1: when the oil companies, the US oil companies, say we 202 00:10:12,559 --> 00:10:16,079 Speaker 1: need to guarantee of the safety of our people, well, 203 00:10:16,080 --> 00:10:17,800 Speaker 1: who's going to do that. It's not going to be 204 00:10:17,840 --> 00:10:21,120 Speaker 1: the Venezuelan military. It would have to be the US military. 205 00:10:21,400 --> 00:10:24,120 Speaker 1: Or let's say initially it is the Venezuelan military, but 206 00:10:24,200 --> 00:10:27,000 Speaker 1: then something happens, not exactly the most competent folks, right, 207 00:10:27,000 --> 00:10:30,160 Speaker 1: they just allow their president to be kidnapped literally and 208 00:10:30,280 --> 00:10:32,280 Speaker 1: the most secure person in the country. So if they 209 00:10:32,280 --> 00:10:34,400 Speaker 1: can't even defend them, and if you're an oil company, 210 00:10:34,400 --> 00:10:36,840 Speaker 1: which you really want to trust those people, well that 211 00:10:36,880 --> 00:10:39,559 Speaker 1: would lead perhaps to a US person having to come 212 00:10:39,640 --> 00:10:42,720 Speaker 1: and that's exactly how the chain reaction goes. You know, 213 00:10:42,760 --> 00:10:44,920 Speaker 1: I was thinking about Huanda vid Rojas and he talked 214 00:10:44,920 --> 00:10:49,360 Speaker 1: about Vietnam and something everybody forgets about Vietnam. And this 215 00:10:49,400 --> 00:10:52,040 Speaker 1: is what the Pentagon papers actually showed, is it started 216 00:10:52,120 --> 00:10:56,000 Speaker 1: under the Truman administration, like it became a multi administration, 217 00:10:56,280 --> 00:11:00,840 Speaker 1: multi decade long boondoggle before five hundred thousand troops just 218 00:11:00,920 --> 00:11:03,200 Speaker 1: show up. Remember it only starts with a few advisors. 219 00:11:03,360 --> 00:11:06,920 Speaker 1: It starts with allowing a coup. It's exactly the chain 220 00:11:07,240 --> 00:11:10,600 Speaker 1: reaction where it can take a decade, maybe even two 221 00:11:10,960 --> 00:11:13,560 Speaker 1: before these things start to materialize. And that's what we 222 00:11:13,679 --> 00:11:17,000 Speaker 1: originally had learned, I think through Iraq and Afghanistan. But 223 00:11:17,040 --> 00:11:19,400 Speaker 1: we're right back to where we started. We defeated Iraq 224 00:11:19,440 --> 00:11:22,000 Speaker 1: in three weeks with shakan Ah. That wasn't the hard part. 225 00:11:22,160 --> 00:11:23,960 Speaker 1: The hard part was trying to run the country. And 226 00:11:24,000 --> 00:11:26,280 Speaker 1: even if you'd wanted to quote take the oil, you know, 227 00:11:26,320 --> 00:11:28,680 Speaker 1: there are a lot of different ways that it could 228 00:11:28,679 --> 00:11:31,000 Speaker 1: have gone bad, even in the initial kind of trumpy 229 00:11:31,040 --> 00:11:34,720 Speaker 1: in view of occupation of trying to run something for 230 00:11:34,760 --> 00:11:37,120 Speaker 1: literally years to come, which he's declaring right now. 231 00:11:37,080 --> 00:11:39,360 Speaker 2: Yeah, and that was actually crazy comments that he made 232 00:11:39,400 --> 00:11:41,880 Speaker 2: to Jo Scarborough recently. It's like, well, the problem with 233 00:11:41,920 --> 00:11:43,320 Speaker 2: the rock was that we didn't. 234 00:11:43,080 --> 00:11:43,600 Speaker 4: Take the oil. 235 00:11:43,960 --> 00:11:46,120 Speaker 1: Well he said that for they want no, but not. 236 00:11:46,840 --> 00:11:48,480 Speaker 2: That the problem was we went in at all. I 237 00:11:48,480 --> 00:11:50,840 Speaker 2: mean now like, yeah, it was all good, except we 238 00:11:50,880 --> 00:11:52,960 Speaker 2: just didn't take the oil. It's like, what part of 239 00:11:53,000 --> 00:11:55,040 Speaker 2: this do you think went well? I mean, we're still 240 00:11:55,080 --> 00:11:57,680 Speaker 2: dealing with the fallout of having created ISIS and you 241 00:11:57,679 --> 00:12:00,960 Speaker 2: know we've got the ISIS guy and charges whatever. But 242 00:12:01,400 --> 00:12:03,199 Speaker 2: to bolster your point, let's but beat three up on 243 00:12:03,240 --> 00:12:05,720 Speaker 2: the screen. Trump is now saying he wants a one 244 00:12:05,720 --> 00:12:13,400 Speaker 2: point five trillion dollar military pudget. One point five trillion dollars. Okay, 245 00:12:13,800 --> 00:12:16,200 Speaker 2: he just became the first president ever to get a 246 00:12:16,240 --> 00:12:20,400 Speaker 2: trillion dollar military pudget, and that is an insane, extraordinary number, 247 00:12:20,559 --> 00:12:22,560 Speaker 2: far beyond what any other country in the world spends 248 00:12:22,559 --> 00:12:24,800 Speaker 2: on their military. Now he wants to up that by 249 00:12:24,920 --> 00:12:27,640 Speaker 2: fifty percent. Just to put this in perspective, you guys, 250 00:12:27,720 --> 00:12:31,439 Speaker 2: remember Build Back Better and all of the social welfare programs, 251 00:12:31,480 --> 00:12:34,400 Speaker 2: all that that entailed that was going to add to 252 00:12:34,440 --> 00:12:37,920 Speaker 2: the deficit like four hundred billion over a decade, we're 253 00:12:37,960 --> 00:12:43,160 Speaker 2: talking about one point five trillion dollars, So your tie, 254 00:12:43,360 --> 00:12:48,560 Speaker 2: like the amount of tax dollars shifted into the military 255 00:12:49,000 --> 00:12:52,000 Speaker 2: and that apparatus, I mean, that tells you everything about 256 00:12:52,000 --> 00:12:54,120 Speaker 2: what his focus is and the way he wants to 257 00:12:54,240 --> 00:12:56,640 Speaker 2: run the whole world, Like this is how he wants 258 00:12:56,760 --> 00:12:59,520 Speaker 2: to operate. And so it's also what I mean, listen 259 00:12:59,559 --> 00:13:01,920 Speaker 2: to the Hippak thing is just like you can't even 260 00:13:01,960 --> 00:13:03,920 Speaker 2: make it up here. They are talking about fraud. Meanwhile, 261 00:13:03,920 --> 00:13:06,720 Speaker 2: this agency of course never passes an Audit cannot account 262 00:13:06,760 --> 00:13:08,280 Speaker 2: for sixty one percent. 263 00:13:08,240 --> 00:13:09,439 Speaker 4: Of their own assets. 264 00:13:09,720 --> 00:13:13,720 Speaker 2: Okay, so much fraud and you know, extortion throughout the 265 00:13:13,760 --> 00:13:16,840 Speaker 2: Defense Department. Not to mention last year at this time, 266 00:13:16,880 --> 00:13:19,240 Speaker 2: we're ramping up into Doge and Elon was about to 267 00:13:19,280 --> 00:13:20,320 Speaker 2: run around with the chainsaw. 268 00:13:20,480 --> 00:13:21,560 Speaker 4: My god, we got to cut the debt. 269 00:13:21,559 --> 00:13:23,920 Speaker 2: We got to cut the deficit, not on not when 270 00:13:23,960 --> 00:13:26,640 Speaker 2: it comes to you know, waging random wars around the 271 00:13:26,679 --> 00:13:28,600 Speaker 2: world for resource extraction. 272 00:13:29,080 --> 00:13:31,960 Speaker 1: Yeah. The one point five trillion is just so insane. 273 00:13:32,040 --> 00:13:36,320 Speaker 1: It's insane. Yeah, and this is I've always said, this 274 00:13:36,640 --> 00:13:39,360 Speaker 1: money does not in fact with the Defense Department. The 275 00:13:39,360 --> 00:13:42,040 Speaker 1: more money, the less good that we actually seem to 276 00:13:42,080 --> 00:13:47,440 Speaker 1: be like we become more hyper inefficient more per I 277 00:13:47,480 --> 00:13:49,680 Speaker 1: talked a lot about this yesterday in our show. We 278 00:13:49,760 --> 00:13:53,000 Speaker 1: become this like F one race car, which can just 279 00:13:53,040 --> 00:13:56,520 Speaker 1: spend to spend instead of focusing on things like the 280 00:13:56,559 --> 00:13:59,079 Speaker 1: B seventeen, things that are just easy, cheap to roll. 281 00:13:59,200 --> 00:14:01,800 Speaker 1: But with that production and scale that you can just 282 00:14:01,840 --> 00:14:04,200 Speaker 1: pump off of the assembly line, that's how you win 283 00:14:04,360 --> 00:14:07,760 Speaker 1: a war Amo exactly like you just roll it. And 284 00:14:08,000 --> 00:14:11,400 Speaker 1: that is the literal opposite. And this is also you know, 285 00:14:11,440 --> 00:14:15,400 Speaker 1: to my bureaucracy point, to effectively and properly spend one 286 00:14:15,440 --> 00:14:19,480 Speaker 1: point five trillion dollars, which would be double what we 287 00:14:19,480 --> 00:14:23,920 Speaker 1: were spending just two years ago. Imagine the level of 288 00:14:24,080 --> 00:14:27,800 Speaker 1: competence and staff that that would require to be able 289 00:14:27,840 --> 00:14:29,720 Speaker 1: to come in and to be able to do that, 290 00:14:29,840 --> 00:14:32,240 Speaker 1: And you would have to do this over a two 291 00:14:32,320 --> 00:14:34,800 Speaker 1: year period as long as you're in office, and I 292 00:14:34,840 --> 00:14:38,120 Speaker 1: guess potentially if your vice president wins the election that 293 00:14:38,120 --> 00:14:39,840 Speaker 1: that person could do it as well. But like, this 294 00:14:40,000 --> 00:14:42,040 Speaker 1: is exactly the problem, and this is how you get 295 00:14:42,240 --> 00:14:45,080 Speaker 1: not just runaway spending, but you get corruption and yes, 296 00:14:45,120 --> 00:14:48,480 Speaker 1: stock buybacks and executive compensation, which we'll talk about here 297 00:14:48,480 --> 00:14:50,280 Speaker 1: in a little bit that they're trying to crack down 298 00:14:50,280 --> 00:14:53,400 Speaker 1: on is great, but the very idea that money equals 299 00:14:53,440 --> 00:14:56,240 Speaker 1: more is the problem in my opinion, Like everything should 300 00:14:56,240 --> 00:14:59,600 Speaker 1: always be here is what we actually need. Sometimes you 301 00:14:59,640 --> 00:15:02,480 Speaker 1: need more. Sometimes it's actually about the supplier, it's about 302 00:15:02,480 --> 00:15:06,880 Speaker 1: the prime contractors, it's about the indust base, it's about 303 00:15:07,040 --> 00:15:09,920 Speaker 1: lacking certain types of rare earth minerals or others that 304 00:15:09,960 --> 00:15:13,480 Speaker 1: you may need in order to produce something. The question 305 00:15:13,480 --> 00:15:16,480 Speaker 1: should come from necessity, not from the top line number, 306 00:15:16,640 --> 00:15:20,080 Speaker 1: because now everybody in Congress is just going to salivate 307 00:15:20,160 --> 00:15:22,960 Speaker 1: over this and turn it into even more of some 308 00:15:23,320 --> 00:15:25,920 Speaker 1: you know, hyper exactly. And it's like, look, we all 309 00:15:26,000 --> 00:15:29,600 Speaker 1: ridiculed remember with Ukraine, the Ukraine Bill. They're like, well, 310 00:15:29,840 --> 00:15:31,840 Speaker 1: we're not sending it to Ukraine, We're sending it here, 311 00:15:31,880 --> 00:15:33,640 Speaker 1: and then we're going to send the weapons to Ukraine. 312 00:15:33,640 --> 00:15:36,160 Speaker 1: So actually it'll be good for everyone here. It's like, well, 313 00:15:36,160 --> 00:15:38,280 Speaker 1: it usually doesn't work out that way, as you you know. 314 00:15:38,320 --> 00:15:43,000 Speaker 1: And yes, setting executive compensation at five million good, I 315 00:15:43,080 --> 00:15:46,080 Speaker 1: guess seems like too much money to me, but all right, 316 00:15:46,360 --> 00:15:50,000 Speaker 1: five million dollars. It's anybody who's running a defense contract 317 00:15:50,040 --> 00:15:53,000 Speaker 1: or a middle manager at a defense contracting company. But 318 00:15:53,760 --> 00:15:56,560 Speaker 1: more importantly, I mean, just you know what I took 319 00:15:56,600 --> 00:16:00,480 Speaker 1: away from this is repeating the follies of them high 320 00:16:00,520 --> 00:16:03,400 Speaker 1: like these things fell apart, usually for a reason, and 321 00:16:03,440 --> 00:16:05,200 Speaker 1: maybe it was inevitable. I mean, I remember I was 322 00:16:05,200 --> 00:16:07,320 Speaker 1: on Lex Reeman once He's like, well, the American Empire fall, 323 00:16:07,360 --> 00:16:09,880 Speaker 1: and I was like, well, you know a long enough timeline. 324 00:16:09,960 --> 00:16:12,880 Speaker 1: The survivor rape for everything. Yeah, yeah, the survivor rape 325 00:16:12,880 --> 00:16:15,680 Speaker 1: for everything drops to zero, as they famously said in 326 00:16:16,520 --> 00:16:19,520 Speaker 1: Fight Club. But for this one, you can see that 327 00:16:19,600 --> 00:16:25,920 Speaker 1: this explicit oil bureau Venezuela, it repeats the very same 328 00:16:26,000 --> 00:16:29,200 Speaker 1: problems that have always been deviled for people who try 329 00:16:29,240 --> 00:16:32,760 Speaker 1: to do this. And you know, the better option from 330 00:16:32,800 --> 00:16:35,200 Speaker 1: the beginning just seems to have been make a deal 331 00:16:35,240 --> 00:16:36,920 Speaker 1: with Maduro and buy it from him, and then we 332 00:16:36,920 --> 00:16:39,920 Speaker 1: don't have to run it, be responsible and now have 333 00:16:40,000 --> 00:16:42,800 Speaker 1: to threaten to kill or any of that. He was 334 00:16:42,840 --> 00:16:43,920 Speaker 1: governing five. 335 00:16:43,800 --> 00:16:47,880 Speaker 2: Of extraction, you know, way it's done right, and threaten. 336 00:16:47,720 --> 00:16:49,440 Speaker 1: And he'll make a deal, which he wanted to. He 337 00:16:49,520 --> 00:16:50,240 Speaker 1: literally was able. 338 00:16:50,400 --> 00:16:52,600 Speaker 2: Paul Singer will get his payoff, you know, he'll be 339 00:16:52,600 --> 00:16:54,480 Speaker 2: able to get his Venezuela and oil into his sit 340 00:16:54,520 --> 00:16:56,920 Speaker 2: go refineries. You don't have to do this whole thing 341 00:16:57,000 --> 00:16:58,320 Speaker 2: and now you break it, you own it. 342 00:16:58,640 --> 00:17:03,960 Speaker 1: Okay, treat a party standing by. Let's get to it, all. 343 00:17:03,920 --> 00:17:07,199 Speaker 2: Right, guys, to talk more about geopolitics, especially with regard 344 00:17:07,240 --> 00:17:09,640 Speaker 2: to the US and Iran. We are joined by doctor 345 00:17:09,680 --> 00:17:11,760 Speaker 2: treat To Parsi, who of course is the executive vice 346 00:17:11,800 --> 00:17:15,560 Speaker 2: president of the Quincy Institute for Responsible Politics and fan 347 00:17:15,640 --> 00:17:16,320 Speaker 2: of the friend of. 348 00:17:16,240 --> 00:17:17,960 Speaker 4: The show, probably a fan of the show too, but 349 00:17:18,000 --> 00:17:19,160 Speaker 4: I want to stay front of the show. 350 00:17:19,240 --> 00:17:19,880 Speaker 5: Definitely. 351 00:17:20,160 --> 00:17:22,000 Speaker 4: It was great to see you, to see you as well. 352 00:17:22,480 --> 00:17:25,359 Speaker 2: So let's go ahead and start with this truth from 353 00:17:25,640 --> 00:17:29,920 Speaker 2: President Trump threatening Iran, where there are ongoing protests, and 354 00:17:30,280 --> 00:17:33,119 Speaker 2: this does tie into the very lengthy discussion Saga and 355 00:17:33,160 --> 00:17:34,560 Speaker 2: I had at the beginning of the show about ice. 356 00:17:34,960 --> 00:17:38,720 Speaker 2: He says, if Iran shoots and violently kills peaceful protesters, 357 00:17:38,760 --> 00:17:41,360 Speaker 2: which is their custom, the United States of America will 358 00:17:41,359 --> 00:17:44,040 Speaker 2: come to their rescue. We are locked and loaded and 359 00:17:44,160 --> 00:17:46,800 Speaker 2: ready to go. Thank you for your attention to this matter, 360 00:17:46,840 --> 00:17:47,800 Speaker 2: President Donald J. 361 00:17:48,040 --> 00:17:48,399 Speaker 1: Trump. 362 00:17:48,440 --> 00:17:51,280 Speaker 2: So you know, how serious do you take these threats? 363 00:17:51,359 --> 00:17:53,439 Speaker 2: How serious do you think the Iranian government takes these 364 00:17:53,440 --> 00:17:54,119 Speaker 2: sorts of thoughts. 365 00:17:54,400 --> 00:17:57,520 Speaker 5: I think the Iranian government would be extremely mistaken if 366 00:17:57,520 --> 00:18:00,520 Speaker 5: it didn't take it seriously that both the States and 367 00:18:00,680 --> 00:18:04,960 Speaker 5: Israel are likely to strike youan. I think we've spoken 368 00:18:04,960 --> 00:18:07,199 Speaker 5: about this before as well. The Israelis did not finish 369 00:18:07,320 --> 00:18:11,240 Speaker 5: the job from their standpoint in June, even though Trump 370 00:18:11,280 --> 00:18:13,920 Speaker 5: said that he had obliterated the program, it was never 371 00:18:14,240 --> 00:18:16,840 Speaker 5: just about the program. So these Raelies are very much 372 00:18:16,960 --> 00:18:19,280 Speaker 5: likely to go forward. But I think the result of 373 00:18:19,440 --> 00:18:22,879 Speaker 5: the December meeting that Ntaiao had with Trump is not 374 00:18:22,960 --> 00:18:25,080 Speaker 5: only that they got a green light. It seems like 375 00:18:25,160 --> 00:18:28,200 Speaker 5: Trump actually was convinced to take the lead on this, 376 00:18:29,000 --> 00:18:30,520 Speaker 5: or at least take a big part of it, which 377 00:18:30,560 --> 00:18:33,320 Speaker 5: is unlike what happened in the summer, in which initially 378 00:18:33,359 --> 00:18:37,000 Speaker 5: the US had a defensive role in terms of shooting 379 00:18:37,000 --> 00:18:39,240 Speaker 5: down Iran in Missilet, but then later on stepped in 380 00:18:39,320 --> 00:18:41,879 Speaker 5: more further into the war itself by taking out the 381 00:18:41,920 --> 00:18:44,720 Speaker 5: Iranian four DO plant. But this time around, it looks 382 00:18:44,720 --> 00:18:47,080 Speaker 5: as if he has been convinced just looking at who 383 00:18:47,119 --> 00:18:49,640 Speaker 5: he's hanging out with, is on the airplane with Lindsay Graham, etc. 384 00:18:50,920 --> 00:18:54,600 Speaker 5: Using that language opposing with hats of make yourn great again. 385 00:18:55,480 --> 00:18:57,159 Speaker 5: It would be a mistake for the Iranians not to 386 00:18:57,160 --> 00:18:58,119 Speaker 5: take this very seriously, I. 387 00:18:58,119 --> 00:19:01,200 Speaker 1: Would say, doctor Parcy, I'm curious. One of the things 388 00:19:01,200 --> 00:19:04,800 Speaker 1: that has come out is Trump's own infatuation with the 389 00:19:04,840 --> 00:19:09,320 Speaker 1: Midnight Hammer operation and now with the successful rendition of 390 00:19:09,440 --> 00:19:14,679 Speaker 1: Nicholas Maduro. How does that play into his expectation or 391 00:19:14,720 --> 00:19:17,960 Speaker 1: what the Israelis are telling him about possible action against 392 00:19:18,000 --> 00:19:20,800 Speaker 1: Iran versus the reality of what something like that would 393 00:19:20,800 --> 00:19:21,159 Speaker 1: look like. 394 00:19:21,800 --> 00:19:26,040 Speaker 5: I think what has happened here is that Trump is 395 00:19:26,640 --> 00:19:30,560 Speaker 5: quite surprised and quite euphoric about the success the military 396 00:19:30,600 --> 00:19:34,640 Speaker 5: aspect of Venezuela, and that has now skewed his risk 397 00:19:34,680 --> 00:19:39,640 Speaker 5: assessment of what other operations that may be tremendously different 398 00:19:39,720 --> 00:19:41,879 Speaker 5: and far more difficult, mindful of the fact that it 399 00:19:41,920 --> 00:19:44,560 Speaker 5: is in a completely different geography what that may be. 400 00:19:44,680 --> 00:19:46,840 Speaker 5: But I think he looks as if he is now 401 00:19:47,560 --> 00:19:49,520 Speaker 5: thinking that, well, this was easy, why don't we do 402 00:19:49,560 --> 00:19:51,080 Speaker 5: more of it? In fact, he said why don't we 403 00:19:51,080 --> 00:19:53,800 Speaker 5: do more of it? And I think, in combination with 404 00:19:53,880 --> 00:19:58,720 Speaker 5: the fact that you are seeing a very determined campaign 405 00:19:58,840 --> 00:20:01,919 Speaker 5: to portray the Iran Is as weak as possible to 406 00:20:02,000 --> 00:20:04,879 Speaker 5: then convince him this is not going to be difficult. 407 00:20:05,160 --> 00:20:07,880 Speaker 5: You just need to push the regime will fall, et cetera. 408 00:20:08,200 --> 00:20:10,520 Speaker 5: I think it's important to recognize that Trump doesn't seem 409 00:20:10,560 --> 00:20:14,600 Speaker 5: to have a real commitment to oppose war or to 410 00:20:14,640 --> 00:20:17,520 Speaker 5: oppose regime change. He has a real commitment to thinks 411 00:20:17,520 --> 00:20:20,520 Speaker 5: that he thinks are costly and complicated and won't make 412 00:20:20,600 --> 00:20:23,119 Speaker 5: him look good. But if you can convince him that 413 00:20:23,200 --> 00:20:25,280 Speaker 5: the war will be easy, if you can convince him 414 00:20:25,280 --> 00:20:27,400 Speaker 5: that regime change will be easy, then I don't think 415 00:20:27,440 --> 00:20:29,320 Speaker 5: he has a tremendous amount of resistance. And I think 416 00:20:29,359 --> 00:20:31,359 Speaker 5: what we've seen in the last two weeks or so 417 00:20:31,560 --> 00:20:34,560 Speaker 5: is a very significant campaign to make it look as 418 00:20:34,600 --> 00:20:36,800 Speaker 5: easy as possible in order to get Trump in on 419 00:20:36,880 --> 00:20:37,520 Speaker 5: it himself. 420 00:20:37,840 --> 00:20:41,000 Speaker 2: Some of the analysis I've seen doctor Parci directly does 421 00:20:41,119 --> 00:20:45,359 Speaker 2: connect the strike in kidnapping and Maduro and Venezuela and 422 00:20:45,400 --> 00:20:49,840 Speaker 2: the takeover Venezuelan oil with potential war with the run 423 00:20:49,920 --> 00:20:52,479 Speaker 2: because the idea being okay, well, then will have control 424 00:20:52,480 --> 00:20:54,240 Speaker 2: of more oil reserves, don't have to worry if there 425 00:20:54,240 --> 00:20:57,399 Speaker 2: are implications in terms of the oil trade regionally in 426 00:20:57,440 --> 00:20:58,119 Speaker 2: the Middle East. 427 00:20:58,560 --> 00:20:59,640 Speaker 4: Do you read it that way? 428 00:20:59,640 --> 00:21:01,560 Speaker 2: Do you think that is part of the calculus for 429 00:21:01,680 --> 00:21:04,200 Speaker 2: why we did this insane thing in Venezuela. 430 00:21:04,320 --> 00:21:06,960 Speaker 5: I think oil is a huge part of the calculation here. 431 00:21:07,040 --> 00:21:10,160 Speaker 5: I don't think it is for this reason. Getting Venezuelan oil, 432 00:21:10,160 --> 00:21:11,960 Speaker 5: which is a very different kind of oil than what 433 00:21:12,000 --> 00:21:15,920 Speaker 5: the Iranians have, requires completely different type of refineries, et cetera. 434 00:21:16,920 --> 00:21:18,320 Speaker 5: You know, you're not going to be able to just 435 00:21:18,359 --> 00:21:21,560 Speaker 5: stabilize the oil markets because you have Venezuelan oil pumping 436 00:21:21,560 --> 00:21:23,000 Speaker 5: out at first of all, It's going to take quite 437 00:21:23,000 --> 00:21:24,920 Speaker 5: some time for that to be able to really get 438 00:21:24,960 --> 00:21:26,920 Speaker 5: on the market. So I don't think there is Strump 439 00:21:26,960 --> 00:21:30,080 Speaker 5: knows that though, Well, that's a different question. It's a 440 00:21:30,200 --> 00:21:33,080 Speaker 5: very different question. But I do think that oil does 441 00:21:33,200 --> 00:21:37,480 Speaker 5: have a central role in the calculation behind Venezuela. This 442 00:21:37,520 --> 00:21:40,680 Speaker 5: is as I understand their reasoning, which is that this 443 00:21:40,760 --> 00:21:44,160 Speaker 5: gives the United States greater control over the oil markets 444 00:21:44,520 --> 00:21:46,880 Speaker 5: down the road, not immediately, and that is a critical 445 00:21:46,960 --> 00:21:50,960 Speaker 5: thing they believe in terms of competition with China. Now, 446 00:21:51,200 --> 00:21:54,960 Speaker 5: setting aside the complete illegality of it, the complete immorality 447 00:21:55,000 --> 00:21:58,160 Speaker 5: of it, as well as relying on a very best 448 00:21:58,200 --> 00:22:01,159 Speaker 5: case scenario reading of this, because It's one thing to 449 00:22:01,200 --> 00:22:04,199 Speaker 5: do at military operation. It's a completely different thing to 450 00:22:04,240 --> 00:22:06,960 Speaker 5: make sure that this actually works out in the long run. Remember, 451 00:22:07,400 --> 00:22:10,960 Speaker 5: Iraq looked as a success up until August of two 452 00:22:10,960 --> 00:22:13,440 Speaker 5: thousand and three when they blew up the UN building 453 00:22:13,560 --> 00:22:16,240 Speaker 5: during in the middle of that conference, a press conference 454 00:22:16,240 --> 00:22:19,159 Speaker 5: that was being held, and the insurrection really started. Up 455 00:22:19,240 --> 00:22:22,399 Speaker 5: until that point, there was euphora and everyone thought, oh, 456 00:22:22,440 --> 00:22:25,359 Speaker 5: this is so successful and we had mission accomplished. Same 457 00:22:25,400 --> 00:22:28,520 Speaker 5: thing with Afghanistan, same thing with Libya. We're still in 458 00:22:28,560 --> 00:22:31,679 Speaker 5: that initial phase. Well, what they ate or so making 459 00:22:31,800 --> 00:22:34,600 Speaker 5: judgments on that, which I do fear the administration is making, 460 00:22:34,680 --> 00:22:37,520 Speaker 5: particularly Trump himself, is a huge mistake. 461 00:22:37,400 --> 00:22:39,920 Speaker 1: Doctor Parson. One of the things I've seen move from 462 00:22:40,040 --> 00:22:43,800 Speaker 1: Israel is a line about the Iranian nuclear program. They're 463 00:22:43,840 --> 00:22:47,159 Speaker 1: now turning it into talk of ICBMs. I know that 464 00:22:47,160 --> 00:22:49,879 Speaker 1: that was very important at the December meeting. Could you 465 00:22:49,920 --> 00:22:51,520 Speaker 1: just explain that a little bit to the audience, the 466 00:22:51,560 --> 00:22:53,600 Speaker 1: moving of the goalpost to try and get the bombing 467 00:22:53,640 --> 00:22:54,680 Speaker 1: of Iran to restart. 468 00:22:55,440 --> 00:22:57,840 Speaker 5: Yeah, I think that's a very important question, Saghara, because 469 00:22:57,920 --> 00:22:59,760 Speaker 5: it also shows that that this, at the end of 470 00:22:59,760 --> 00:23:02,200 Speaker 5: the day, was not ultimately about the nuclear program. The 471 00:23:02,240 --> 00:23:04,359 Speaker 5: nuclear program is a very important part of it, but 472 00:23:04,440 --> 00:23:07,199 Speaker 5: what it ultimacy is about is the balance in the 473 00:23:07,240 --> 00:23:10,480 Speaker 5: region and the ability of Iran or any country in 474 00:23:10,480 --> 00:23:13,639 Speaker 5: the region that Israel deems hostile. In the case of Iran, 475 00:23:13,720 --> 00:23:17,000 Speaker 5: of course it is and their ability to deter Israel 476 00:23:17,080 --> 00:23:23,200 Speaker 5: to challenge Israel's domination, challenge or minimize or reduce Israel's maneuverability. 477 00:23:23,920 --> 00:23:28,119 Speaker 5: A nuclear program, a latent nuclear leverage that Ivania has had, 478 00:23:28,200 --> 00:23:31,200 Speaker 5: or an actual nuclear weapons program obviously would be a 479 00:23:31,280 --> 00:23:33,679 Speaker 5: challenge to it, but that's not the only thing. Also, 480 00:23:33,720 --> 00:23:36,359 Speaker 5: if Vanias have missiles that actually can reach Israel and 481 00:23:36,400 --> 00:23:39,200 Speaker 5: that are effective enough to be able to penetrate Israel's 482 00:23:40,000 --> 00:23:45,280 Speaker 5: defense shields, that too is a limitation to Israel's domination 483 00:23:45,359 --> 00:23:47,000 Speaker 5: in the region, and that gets to the core of 484 00:23:47,040 --> 00:23:49,680 Speaker 5: the matter here. It is not about security for Israel. 485 00:23:50,000 --> 00:23:54,400 Speaker 5: It's about securing Israel's dominance. Not actual security, but dominance. 486 00:23:54,600 --> 00:23:56,760 Speaker 5: But that's because the Israelis believe that they can only 487 00:23:56,800 --> 00:24:00,440 Speaker 5: have security through dominance, not through balance, not through coil existence, 488 00:24:00,720 --> 00:24:04,080 Speaker 5: not through the management of threat with others. And the 489 00:24:04,160 --> 00:24:07,639 Speaker 5: ultimate logic of that means in order for Israel to 490 00:24:07,640 --> 00:24:10,119 Speaker 5: feel safe in the region, it needs to have total 491 00:24:10,160 --> 00:24:14,280 Speaker 5: security and everyone else needs to have total insecurity visa 492 00:24:14,320 --> 00:24:16,000 Speaker 5: vi Israel. That's part of the reason we're also now 493 00:24:16,040 --> 00:24:18,960 Speaker 5: see intensions between Israel and Turkey, because Turkey is getting 494 00:24:18,960 --> 00:24:21,919 Speaker 5: closer to what Israel now is craving out as a 495 00:24:21,960 --> 00:24:25,040 Speaker 5: sphere of influence. Now, if these Radis want to pursue 496 00:24:25,080 --> 00:24:27,320 Speaker 5: this type of approach, which ultimately is not going to 497 00:24:27,320 --> 00:24:30,159 Speaker 5: be successful in my view, that's one thing. But to 498 00:24:30,200 --> 00:24:32,560 Speaker 5: have the United States pay for it and have the 499 00:24:32,680 --> 00:24:35,080 Speaker 5: United States be the backstop for it is a completely 500 00:24:35,080 --> 00:24:38,240 Speaker 5: different proposition. And that's then coming back to over here. 501 00:24:38,280 --> 00:24:40,760 Speaker 5: What kind of decision do we make? Do we want 502 00:24:40,800 --> 00:24:44,560 Speaker 5: to be the funders and the support system for an 503 00:24:44,680 --> 00:24:47,159 Speaker 5: Israeli project of hegemony in the region? What's in it 504 00:24:47,200 --> 00:24:48,040 Speaker 5: for the US? 505 00:24:48,880 --> 00:24:50,239 Speaker 2: Do you think, first of all, I'd love for you 506 00:24:50,240 --> 00:24:52,520 Speaker 2: to talk a little bit about the protest, how widespread, 507 00:24:52,520 --> 00:24:54,560 Speaker 2: what are the core issues? And then do you think 508 00:24:54,560 --> 00:24:57,360 Speaker 2: that that has also helped to persuade Trump that would 509 00:24:57,400 --> 00:24:59,840 Speaker 2: be easy to just topple this with this regime and around. 510 00:25:00,680 --> 00:25:02,680 Speaker 5: First of all, I think absolutely I've had a huge 511 00:25:02,720 --> 00:25:05,199 Speaker 5: impact on it because of the imagery. I mean, this 512 00:25:05,280 --> 00:25:07,520 Speaker 5: is not a present that isn't necessarily move that much 513 00:25:07,560 --> 00:25:10,440 Speaker 5: by intelligence briefings, but the imagery, and I think that's 514 00:25:10,440 --> 00:25:12,760 Speaker 5: part of the reason. Also, we're seeing that the protests 515 00:25:12,800 --> 00:25:16,760 Speaker 5: are continuing. They're actually not particularly large historically speaking, this 516 00:25:16,880 --> 00:25:18,800 Speaker 5: is nothing compared to two thousand and nine. This is 517 00:25:18,840 --> 00:25:22,639 Speaker 5: still smaller than twenty seventeen, definitely smaller than twenty twenty 518 00:25:22,640 --> 00:25:26,000 Speaker 5: two as well. They are important, they're not insignificant in 519 00:25:26,040 --> 00:25:28,520 Speaker 5: any way, shape or form, but they're not at that 520 00:25:28,760 --> 00:25:31,479 Speaker 5: level in which, you know, this talk that seems to 521 00:25:31,480 --> 00:25:34,480 Speaker 5: be the buzz in the media that seems to black Oh, 522 00:25:34,480 --> 00:25:36,399 Speaker 5: the regime is on the verge of collapse, et cetera. 523 00:25:36,800 --> 00:25:39,159 Speaker 5: I'm not seeing. I'm speaking to folks every day inside 524 00:25:39,160 --> 00:25:41,480 Speaker 5: of your own ordinary people as well as journalists and 525 00:25:41,520 --> 00:25:43,800 Speaker 5: others that are plugged in. That is not the sense 526 00:25:43,840 --> 00:25:46,840 Speaker 5: I'm getting. They're all talking about it, they're all seeing it. 527 00:25:47,160 --> 00:25:49,359 Speaker 5: They oftentimes are in support of a lot of the 528 00:25:49,359 --> 00:25:52,920 Speaker 5: different demands. Undoubtedly, I mean, this is a deeply, deeply 529 00:25:53,080 --> 00:25:57,440 Speaker 5: unpopular regime. It was triggered by the currency crisis, which 530 00:25:57,480 --> 00:26:00,280 Speaker 5: is very much connected to the sanctions. Because yon have 531 00:26:00,359 --> 00:26:04,920 Speaker 5: access to their own funds, but it quickly went beyond that. 532 00:26:05,280 --> 00:26:07,600 Speaker 5: But it is not in the major cities, it is 533 00:26:07,640 --> 00:26:12,040 Speaker 5: in smaller places, it is not in huge numbers. But nevertheless, 534 00:26:12,160 --> 00:26:16,399 Speaker 5: it does provide imagery that gives the impression that something, 535 00:26:16,440 --> 00:26:18,520 Speaker 5: particularly if you're only looking at that imagery, you think 536 00:26:18,560 --> 00:26:20,679 Speaker 5: that something much bigger is happening. And I think that 537 00:26:20,720 --> 00:26:23,439 Speaker 5: has been a very deliberate strategy on the end of 538 00:26:23,480 --> 00:26:26,440 Speaker 5: some people who want to push you Trump in this direction, 539 00:26:26,760 --> 00:26:29,160 Speaker 5: to use that in order to tell and look, this 540 00:26:29,200 --> 00:26:31,760 Speaker 5: is going to be so easy. And Lindsey Graham going 541 00:26:31,760 --> 00:26:33,800 Speaker 5: over to him with a hat that says make von 542 00:26:33,880 --> 00:26:36,560 Speaker 5: great again, and he's posing with it. I'm not so 543 00:26:36,640 --> 00:26:38,480 Speaker 5: sure that this is really thought through from Trump's and 544 00:26:38,680 --> 00:26:41,000 Speaker 5: it seems to be very thought through from those who 545 00:26:41,000 --> 00:26:42,600 Speaker 5: want to take advantage of the protest. 546 00:26:43,160 --> 00:26:45,120 Speaker 1: Well, sir, that was very enlightening. Thank you very much 547 00:26:45,119 --> 00:26:46,360 Speaker 1: for joining us. We appreciate it. 548 00:26:46,440 --> 00:26:47,560 Speaker 5: Thank you so much for having me. 549 00:26:50,520 --> 00:26:53,280 Speaker 1: Turning now to homes. Actually a very good action here 550 00:26:53,359 --> 00:26:55,399 Speaker 1: being taken by the president. We'll see if it's stakes. 551 00:26:55,480 --> 00:26:58,600 Speaker 1: Let's go put it up there on the screen. Donald 552 00:26:58,640 --> 00:27:00,720 Speaker 1: Trump saying for a very long long time, buying and 553 00:27:00,760 --> 00:27:03,720 Speaker 1: owning a home was considered the pinnacle of the American dream. 554 00:27:03,840 --> 00:27:05,920 Speaker 1: It was the reward for working hard, doing the right thing. 555 00:27:06,000 --> 00:27:08,240 Speaker 1: But now, because of record high inflation blah blah blah, 556 00:27:08,280 --> 00:27:10,520 Speaker 1: the American dream is increasingly out of reach. It is 557 00:27:10,560 --> 00:27:13,119 Speaker 1: for that reason and much more. I'm immediately taking steps 558 00:27:13,160 --> 00:27:17,719 Speaker 1: to ban institutional investors from buying more single family homes, 559 00:27:17,920 --> 00:27:20,520 Speaker 1: and I will be calling on Congress to codify it. 560 00:27:20,760 --> 00:27:24,240 Speaker 1: People live in homes, not corporations. I will discuss this topic, 561 00:27:24,320 --> 00:27:27,440 Speaker 1: including fur their housing and affordability proposals and more at 562 00:27:27,440 --> 00:27:31,000 Speaker 1: my speech in Davos in the next two weeks. Maybe 563 00:27:31,040 --> 00:27:35,400 Speaker 1: not the venue that I would choose, but the policy 564 00:27:35,440 --> 00:27:38,359 Speaker 1: I will take. The policy I will take as I 565 00:27:38,440 --> 00:27:42,199 Speaker 1: understand it. Actually, this was a policy project that was 566 00:27:42,320 --> 00:27:45,440 Speaker 1: very near and dear to Charlie Kirk's heart, and now 567 00:27:45,520 --> 00:27:47,960 Speaker 1: as the President and his team are gearing up for 568 00:27:48,000 --> 00:27:51,360 Speaker 1: the midterms, they understand that they have an affordability problem 569 00:27:51,600 --> 00:27:54,000 Speaker 1: on their hands. This is the type of executive order 570 00:27:54,160 --> 00:27:57,080 Speaker 1: that they want to make public. You will note, as 571 00:27:57,080 --> 00:27:59,439 Speaker 1: he said, the high hopes that Congress codifies it. We 572 00:27:59,440 --> 00:28:01,720 Speaker 1: can put the next one up on the screen. Senator 573 00:28:01,800 --> 00:28:04,840 Speaker 1: Josh Holly had said that quote. This is a terrific 574 00:28:04,920 --> 00:28:09,520 Speaker 1: idea long overdue. I will gladly introduce this bill in 575 00:28:09,560 --> 00:28:12,240 Speaker 1: the Senate. And what's kind of interesting is that the 576 00:28:12,240 --> 00:28:16,040 Speaker 1: Trump administration knows it has a problem on their hands economically. 577 00:28:16,240 --> 00:28:19,520 Speaker 1: They know that inflation, housing, many of these other things 578 00:28:19,640 --> 00:28:22,480 Speaker 1: are hurting them at the potential ballot box for twenty 579 00:28:22,480 --> 00:28:25,560 Speaker 1: twenty six, but also in just the general minds of people. 580 00:28:25,600 --> 00:28:29,119 Speaker 1: People understand very deeply that housing is like a major 581 00:28:29,200 --> 00:28:33,080 Speaker 1: barrier for them into their ability to have the American dream. 582 00:28:33,320 --> 00:28:35,920 Speaker 1: Part of the reason why I think that there has 583 00:28:35,960 --> 00:28:39,680 Speaker 1: been so much consternation around this idea of these large 584 00:28:39,680 --> 00:28:44,520 Speaker 1: private equity companies or large like corporations owning and managing 585 00:28:44,520 --> 00:28:47,000 Speaker 1: so much housing stock, because it does make you feel 586 00:28:47,040 --> 00:28:50,000 Speaker 1: like a slave, you know, to a bigger economic system. 587 00:28:50,040 --> 00:28:51,400 Speaker 1: So at the very least, you don't want to give 588 00:28:51,400 --> 00:28:55,440 Speaker 1: credit where it's due. You know, hopefully it does become policy, 589 00:28:55,880 --> 00:28:58,120 Speaker 1: but I do think, you know, at a smaller level 590 00:28:58,200 --> 00:29:02,120 Speaker 1: like this, this is also actory for shows like Hours 591 00:29:02,120 --> 00:29:04,440 Speaker 1: and for a lot of other people on the internet. 592 00:29:04,960 --> 00:29:07,640 Speaker 1: You and I talked about this on our very first 593 00:29:07,920 --> 00:29:10,440 Speaker 1: or first week I believe of breaking points. Wow, so 594 00:29:10,440 --> 00:29:13,200 Speaker 1: almost five years ago at this time, just to give 595 00:29:13,240 --> 00:29:16,200 Speaker 1: people an idea of like this has been at the 596 00:29:16,240 --> 00:29:19,680 Speaker 1: center I think the forefront of online politics, things like this, 597 00:29:19,840 --> 00:29:22,600 Speaker 1: things like stock buybacks, and I do think the audience 598 00:29:22,640 --> 00:29:23,880 Speaker 1: and others, you know, you guys are the ones who 599 00:29:23,920 --> 00:29:26,360 Speaker 1: deserve credit because you made it into a thing and 600 00:29:26,400 --> 00:29:27,840 Speaker 1: now it's bubbled. It's up all the way to the 601 00:29:27,880 --> 00:29:29,440 Speaker 1: White House. So I think, I actually think it's a 602 00:29:29,440 --> 00:29:29,959 Speaker 1: good story. 603 00:29:30,360 --> 00:29:32,360 Speaker 2: If Trump just did stuff like this, it would have 604 00:29:32,440 --> 00:29:35,280 Speaker 2: like a seventy ninety percent like I don't know about 605 00:29:35,360 --> 00:29:38,560 Speaker 2: ninety percent, right, but seventy percent dis because of partisanship. 606 00:29:38,600 --> 00:29:40,400 Speaker 4: But he would be wildly popular. 607 00:29:40,480 --> 00:29:42,960 Speaker 2: I mean, it's the thing is, I don't think the 608 00:29:43,000 --> 00:29:46,440 Speaker 2: American people expect you to like have a magic want 609 00:29:46,440 --> 00:29:47,240 Speaker 2: and fix everything. 610 00:29:47,400 --> 00:29:49,400 Speaker 4: And look, is this going to fix everything? 611 00:29:49,440 --> 00:29:49,480 Speaker 3: No? 612 00:29:49,600 --> 00:29:52,440 Speaker 4: In housing margan, No. But at least it gives a. 613 00:29:52,480 --> 00:29:56,480 Speaker 2: Sense of like, I am focused on this. I am 614 00:29:56,480 --> 00:30:00,440 Speaker 2: not just making Venezuela great again. I am doing who's 615 00:30:00,480 --> 00:30:03,360 Speaker 2: bidding and like thinking of bombing ten other countries. I 616 00:30:03,400 --> 00:30:06,040 Speaker 2: actually I hear your concerns and I'm doing something and 617 00:30:06,080 --> 00:30:08,760 Speaker 2: something that you know, a wealthy, powerful interest in the 618 00:30:08,800 --> 00:30:11,800 Speaker 2: country are not going to be happy about. So look 619 00:30:12,040 --> 00:30:14,400 Speaker 2: all the caveats. We'll see what happens if it comes 620 00:30:14,400 --> 00:30:15,960 Speaker 2: to you know, he can't do it really through an 621 00:30:15,960 --> 00:30:18,440 Speaker 2: executive order. It would have to go through Congress. You're 622 00:30:18,480 --> 00:30:21,960 Speaker 2: going to have lots of lobbying from a lot of 623 00:30:22,000 --> 00:30:26,600 Speaker 2: well healed institutions that will be you know, funneling money 624 00:30:26,680 --> 00:30:30,000 Speaker 2: to a bunch of Republicans in particular, since they're in control. 625 00:30:30,000 --> 00:30:32,400 Speaker 2: But plenty of Democrats do to make sure that this 626 00:30:32,480 --> 00:30:34,600 Speaker 2: never happens. So there's still a long way to go 627 00:30:34,680 --> 00:30:37,200 Speaker 2: before we get this, but you know, this the idea. 628 00:30:37,440 --> 00:30:38,360 Speaker 4: Yes, let's do it. 629 00:30:38,400 --> 00:30:40,920 Speaker 2: And look, I don't want to understate because there's a 630 00:30:40,920 --> 00:30:44,800 Speaker 2: lot of like, oh, you know, I think overall permanent 631 00:30:44,880 --> 00:30:47,240 Speaker 2: capital only owns like one percent of the housing stock, 632 00:30:47,240 --> 00:30:50,120 Speaker 2: et cetera. But if you look at D four, there 633 00:30:50,120 --> 00:30:52,400 Speaker 2: are certain places in the country where this is there's 634 00:30:52,440 --> 00:30:56,320 Speaker 2: been a concentrated effort and it has had a real impact. 635 00:30:57,200 --> 00:30:59,320 Speaker 2: So put D four up on the screen, guys. This 636 00:30:59,440 --> 00:31:01,400 Speaker 2: is the map you can see. Actually, Florida's one of 637 00:31:01,440 --> 00:31:05,479 Speaker 2: the hotspots for this sort of buying up of housing, 638 00:31:05,840 --> 00:31:08,400 Speaker 2: so you can see areas in the country where it's 639 00:31:08,720 --> 00:31:11,560 Speaker 2: fairly concentrated activity. And the thing is when you have 640 00:31:11,720 --> 00:31:14,760 Speaker 2: these large institutional investors come in, they can pay in 641 00:31:14,800 --> 00:31:16,840 Speaker 2: all cash and they can just come in. 642 00:31:16,760 --> 00:31:19,480 Speaker 4: And it's like not a hassle. And so even if. 643 00:31:19,440 --> 00:31:23,480 Speaker 2: They're not outbidding you, they're able to do this with 644 00:31:23,520 --> 00:31:25,920 Speaker 2: such ease and with cash up front that it's very 645 00:31:25,960 --> 00:31:28,400 Speaker 2: appealing for a lot of sellers. So you will no 646 00:31:28,440 --> 00:31:31,120 Speaker 2: longer have that particular entity competing with you in the 647 00:31:31,120 --> 00:31:34,640 Speaker 2: housing market. If if this all actually comes to pass. 648 00:31:34,520 --> 00:31:36,120 Speaker 1: That's right. Let's put the next one up there on 649 00:31:36,160 --> 00:31:38,760 Speaker 1: the screen. D five about the stock hit. You know, 650 00:31:38,800 --> 00:31:43,080 Speaker 1: Blackstone took a huge hit there, nine percent drop immediately 651 00:31:43,160 --> 00:31:46,240 Speaker 1: with this announcement. This is exactly you know, what I 652 00:31:46,280 --> 00:31:48,120 Speaker 1: would like to see. And you know, you know, to 653 00:31:48,120 --> 00:31:51,920 Speaker 1: bolster your point, it's very disingenuous just for people say, oh, 654 00:31:51,920 --> 00:31:54,760 Speaker 1: only one percent. It's like, guys, it also matters by 655 00:31:54,840 --> 00:31:57,800 Speaker 1: population where people live, how it shapes the market. By 656 00:31:57,840 --> 00:32:00,600 Speaker 1: the way, keep in mind that graphic you put up 657 00:32:00,800 --> 00:32:04,360 Speaker 1: was only people who own one hundred single family homes 658 00:32:04,400 --> 00:32:07,280 Speaker 1: one hundred, So if you own you know, even twenty, 659 00:32:07,400 --> 00:32:10,440 Speaker 1: I mean, think about what a large landlord that you 660 00:32:10,480 --> 00:32:13,000 Speaker 1: already are, you're rolling in it. From that point forward. 661 00:32:13,080 --> 00:32:16,080 Speaker 1: So it is totally you know, belies the point and 662 00:32:16,120 --> 00:32:19,080 Speaker 1: it's very obvious housing has been a play for a 663 00:32:19,120 --> 00:32:23,280 Speaker 1: lot of these from small to giant private equity giants, 664 00:32:23,360 --> 00:32:25,880 Speaker 1: you know that they've been getting involved in. Griffin actually 665 00:32:25,920 --> 00:32:28,320 Speaker 1: found a good one as well. Can we put D 666 00:32:28,440 --> 00:32:31,080 Speaker 1: three up there on the screen. What you can see 667 00:32:31,120 --> 00:32:34,320 Speaker 1: in front of you is not just it's single family homes, 668 00:32:34,360 --> 00:32:37,160 Speaker 1: but nine percent of residential land. And it's well understood 669 00:32:37,200 --> 00:32:39,840 Speaker 1: that land and the connection to the housing market is 670 00:32:39,960 --> 00:32:43,200 Speaker 1: deeply connected, not only in terms of speculation but literally 671 00:32:43,280 --> 00:32:45,200 Speaker 1: the ability to buy. And what you can see in 672 00:32:45,200 --> 00:32:48,440 Speaker 1: front of you are so many different localities which have 673 00:32:48,480 --> 00:32:51,600 Speaker 1: a significant population, especially in the city of New York. 674 00:32:51,680 --> 00:32:54,440 Speaker 1: I mean, these are very populous places, a lot of 675 00:32:54,520 --> 00:32:57,440 Speaker 1: places in Florida, some of the growing areas. They're in 676 00:32:57,480 --> 00:33:00,160 Speaker 1: the United States. So I think that the people I've 677 00:33:00,200 --> 00:33:03,840 Speaker 1: seen quite a bit of Yimbi critique of this. There's 678 00:33:03,880 --> 00:33:06,840 Speaker 1: like an abundance kind of idea that actually it's a 679 00:33:06,840 --> 00:33:09,760 Speaker 1: good thing for more housing stock and or for more 680 00:33:09,920 --> 00:33:13,239 Speaker 1: for more money to be involved in housing. But like 681 00:33:13,320 --> 00:33:15,680 Speaker 1: this has always been my critique of that movement is 682 00:33:15,720 --> 00:33:20,360 Speaker 1: it belies individuality, americanness, pursuit of the American dream, and 683 00:33:20,600 --> 00:33:23,240 Speaker 1: of that ability to attain wealth. It's not just a 684 00:33:23,280 --> 00:33:26,240 Speaker 1: place where you park your bag, you know, put your bags. 685 00:33:26,520 --> 00:33:28,560 Speaker 1: It's a place where you raise your children. And it 686 00:33:28,560 --> 00:33:31,280 Speaker 1: also gives you at least a bit of a you know, 687 00:33:31,440 --> 00:33:34,160 Speaker 1: lift and too be a being able to attain some 688 00:33:34,480 --> 00:33:38,960 Speaker 1: level of wealth and potential forced savings and accumulation over 689 00:33:39,000 --> 00:33:41,600 Speaker 1: a long period of your life, which is ultimately why 690 00:33:41,720 --> 00:33:43,680 Speaker 1: the house in and of itself is such an important 691 00:33:43,840 --> 00:33:46,360 Speaker 1: financial asset. It's not just you don't invest in it 692 00:33:46,680 --> 00:33:48,680 Speaker 1: or buy one simply, you know, just because you have 693 00:33:48,720 --> 00:33:51,120 Speaker 1: to have a place to live, you have to have one. 694 00:33:51,520 --> 00:33:54,440 Speaker 1: And it's a forced savings mechanism which over a period 695 00:33:54,480 --> 00:33:57,960 Speaker 1: of time can appreciate marginally that you own equity in 696 00:33:58,240 --> 00:34:01,080 Speaker 1: that can then propel you to next or different step 697 00:34:01,120 --> 00:34:02,800 Speaker 1: potentially if you want to pass it on to your 698 00:34:02,880 --> 00:34:04,640 Speaker 1: children or any of that. So I do think it 699 00:34:04,720 --> 00:34:07,160 Speaker 1: is very very important good policy. Hope it actually becomes 700 00:34:07,200 --> 00:34:07,440 Speaker 1: a thing. 701 00:34:07,480 --> 00:34:08,160 Speaker 4: I hope so too. 702 00:34:08,360 --> 00:34:10,560 Speaker 2: And I like the sentiment that people live in houses, 703 00:34:10,600 --> 00:34:13,200 Speaker 2: not corporations. And if we can get that eposts, you know, 704 00:34:13,320 --> 00:34:16,160 Speaker 2: that's a real start in terms of sort of, you know, 705 00:34:16,280 --> 00:34:19,000 Speaker 2: really focusing on what houses are supposed to be about. 706 00:34:19,040 --> 00:34:22,680 Speaker 2: They're not just for financial speculation. It's supposed to be about, 707 00:34:22,719 --> 00:34:24,399 Speaker 2: you know, people actually living there. 708 00:34:24,480 --> 00:34:26,080 Speaker 4: So we'll give them. 709 00:34:25,960 --> 00:34:28,840 Speaker 1: Credit off that one. Let's do the defense contractor one quickly, 710 00:34:28,840 --> 00:34:30,600 Speaker 1: just because I think it's interesting. D two. Can we 711 00:34:30,640 --> 00:34:33,040 Speaker 1: put that up there on the screen, guys. This was 712 00:34:33,160 --> 00:34:36,799 Speaker 1: a truth that the President put out. He said all 713 00:34:36,920 --> 00:34:40,520 Speaker 1: executive pay packages in the defense industry are exorbitant and 714 00:34:40,680 --> 00:34:44,719 Speaker 1: unjustifiable given how these companies are delivering vital equipment. He 715 00:34:44,840 --> 00:34:47,080 Speaker 1: is saying there no executive should be allowed to make 716 00:34:47,120 --> 00:34:49,319 Speaker 1: in the excess of five million dollars, which is as 717 00:34:49,400 --> 00:34:51,920 Speaker 1: high as it sounds, is a mere fraction of what 718 00:34:51,960 --> 00:34:56,120 Speaker 1: they are making now. Additionally, maintenance repair equipment, once sold, 719 00:34:56,200 --> 00:34:58,680 Speaker 1: is far too slow, must be immediately enhanced. As President, 720 00:34:58,760 --> 00:35:02,000 Speaker 1: I am demanding maintenance spot on and on time. Therefore, 721 00:35:02,040 --> 00:35:05,360 Speaker 1: I will not permit dividends or stock buybacks or defense 722 00:35:05,400 --> 00:35:09,600 Speaker 1: companies until such time as these problems are rectified. Likewise, 723 00:35:09,640 --> 00:35:13,959 Speaker 1: for salaries and executive compensations, military equipment is not being 724 00:35:13,960 --> 00:35:17,040 Speaker 1: made fast enough. So you know, look, I think this 725 00:35:17,120 --> 00:35:22,040 Speaker 1: is banning stock buybacks for defense companies capping their salary. Well, 726 00:35:22,040 --> 00:35:25,479 Speaker 1: remember the outrage Crystal during the Great Recession when Wall 727 00:35:25,480 --> 00:35:29,200 Speaker 1: Street gave it all of its guys bonuses immediately after bailouts. 728 00:35:29,400 --> 00:35:31,440 Speaker 1: Like you said, if you could just do stuff like this, 729 00:35:32,000 --> 00:35:33,640 Speaker 1: it would be great, it really would. 730 00:35:33,800 --> 00:35:37,960 Speaker 2: Yeah, absolutely, and not up the defense budget to one 731 00:35:37,960 --> 00:35:40,360 Speaker 2: point five trillion dollars, which is I think you propose, 732 00:35:40,600 --> 00:35:41,279 Speaker 2: we'll probably put that. 733 00:35:41,560 --> 00:35:45,160 Speaker 1: Unfortunately, their stocks did surge because of that, uh and 734 00:35:45,200 --> 00:35:47,800 Speaker 1: not and did not take a hit as a result 735 00:35:47,840 --> 00:35:49,480 Speaker 1: of this one point five trillion. 736 00:35:49,600 --> 00:35:52,680 Speaker 2: I'm more skeptical of this one just because, first of all, 737 00:35:52,719 --> 00:35:55,279 Speaker 2: there's no way in hell Congress would pass something like that. 738 00:35:55,520 --> 00:36:00,120 Speaker 2: Nonag defense industry has Congress unlock and number two. So 739 00:36:00,800 --> 00:36:04,600 Speaker 2: you know, okay, maybe direct compensations five million. What about 740 00:36:04,600 --> 00:36:06,759 Speaker 2: the stock packages, which is where they make most of 741 00:36:06,800 --> 00:36:07,280 Speaker 2: their money. 742 00:36:07,320 --> 00:36:09,080 Speaker 4: I don't know. We'll see. We'll see on this one, 743 00:36:09,400 --> 00:36:10,040 Speaker 4: all right, guys. 744 00:36:10,360 --> 00:36:13,000 Speaker 2: We broke a record for our a block and it 745 00:36:13,040 --> 00:36:14,839 Speaker 2: was like an hour and a half, so we're not 746 00:36:14,880 --> 00:36:16,360 Speaker 2: gonna We're not gonna feel it. But I think it 747 00:36:16,440 --> 00:36:19,000 Speaker 2: was important to go deep on that one and evaluate 748 00:36:19,000 --> 00:36:20,799 Speaker 2: all the angles. And I hope you guys appreciated that, 749 00:36:21,440 --> 00:36:23,240 Speaker 2: and we're gonna. 750 00:36:23,040 --> 00:36:24,480 Speaker 4: Move the stuff we were going to do in the 751 00:36:24,520 --> 00:36:26,120 Speaker 4: latter half of the show. You'll just have to wait 752 00:36:26,120 --> 00:36:26,279 Speaker 4: for it. 753 00:36:26,280 --> 00:36:28,560 Speaker 2: On the Friday show, Griffin is very excited to talk 754 00:36:28,560 --> 00:36:29,839 Speaker 2: about Tony Diakobels, so he has. 755 00:36:31,320 --> 00:36:34,400 Speaker 4: That you yesterday. 756 00:36:34,120 --> 00:36:36,719 Speaker 1: So now he gets to do it. And that's fine. 757 00:36:36,800 --> 00:36:40,000 Speaker 1: Let's everybody hope and pray that this Nora virus doesn't 758 00:36:40,040 --> 00:36:44,879 Speaker 1: continue to make its way through my body. Yeah, thank 759 00:36:44,920 --> 00:36:46,879 Speaker 1: you to everybody for watching the show. You know, look, 760 00:36:46,920 --> 00:36:48,759 Speaker 1: I'm very thankful to be able to do it in 761 00:36:48,800 --> 00:36:51,000 Speaker 1: times like this. I know it's very difficult, but I 762 00:36:51,000 --> 00:36:52,799 Speaker 1: do think it's important. And I'll tell you this, You're 763 00:36:52,800 --> 00:36:55,720 Speaker 1: definitely not going to see this anywhere else, okay, which 764 00:36:55,760 --> 00:37:00,360 Speaker 1: is all just blathering propaganda at at at other people 765 00:37:00,840 --> 00:37:04,239 Speaker 1: react videos to not actually talking to somebody who you 766 00:37:04,280 --> 00:37:05,960 Speaker 1: disagree with. So I'm grateful to be able to do 767 00:37:06,000 --> 00:37:07,799 Speaker 1: it with you today, Christal. I wish it could have 768 00:37:07,800 --> 00:37:10,359 Speaker 1: been there in studio, And thank you guys so much 769 00:37:10,480 --> 00:37:12,239 Speaker 1: for watching, and we'll see you all later.