1 00:00:09,360 --> 00:00:13,680 Speaker 1: Okay, let's have a talk. Is one of those talks 2 00:00:13,720 --> 00:00:17,000 Speaker 1: that I almost feel like dad, Right, your kids laying 3 00:00:17,040 --> 00:00:19,000 Speaker 1: around too much, needs to get a job, and it's 4 00:00:19,079 --> 00:00:21,279 Speaker 1: time to have a talk. Now, you're not the kid 5 00:00:21,320 --> 00:00:24,760 Speaker 1: in this situation, but the normies of America, they are 6 00:00:24,840 --> 00:00:30,480 Speaker 1: the kids in this situation. You me, we understand spending, 7 00:00:31,120 --> 00:00:34,360 Speaker 1: We understand government spending, we understand why it's a problem. 8 00:00:34,400 --> 00:00:36,760 Speaker 1: So first, let's just talk about the good news. Yes, 9 00:00:37,560 --> 00:00:41,880 Speaker 1: inflation as of this moment is going down. It's tacking 10 00:00:41,960 --> 00:00:45,360 Speaker 1: closer to two percent, which is the goal of the Fed. 11 00:00:45,440 --> 00:00:48,680 Speaker 1: It's at two point four. It wasn't two point six. 12 00:00:49,479 --> 00:00:53,640 Speaker 1: The goal of the Federal Reserve is two percent. Now 13 00:00:54,320 --> 00:00:57,160 Speaker 1: you and I can sit and argue about that goal, 14 00:00:57,280 --> 00:01:01,000 Speaker 1: which I don't particularly care for. I don't understand why 15 00:01:01,000 --> 00:01:04,560 Speaker 1: you have it baked into the economic cake that my 16 00:01:04,720 --> 00:01:07,600 Speaker 1: money has to lose two percent of its value every 17 00:01:07,600 --> 00:01:11,160 Speaker 1: single year. Why can't you try to increase its value? 18 00:01:11,200 --> 00:01:14,679 Speaker 1: Why can't you maintain it? But look, that's obviously that 19 00:01:14,800 --> 00:01:18,280 Speaker 1: ship has sailed, So let's not even dig into that. Okay, 20 00:01:18,360 --> 00:01:21,280 Speaker 1: we're trending in the right direction. If we have to 21 00:01:21,280 --> 00:01:23,200 Speaker 1: put a nice face on this thing, Okay, we got it. 22 00:01:23,240 --> 00:01:26,480 Speaker 1: We got it, But I don't have to tell you 23 00:01:26,560 --> 00:01:30,760 Speaker 1: that that hasn't fixed prices. The prices aren't fixed that 24 00:01:30,840 --> 00:01:36,360 Speaker 1: we're looking at over twenty percent in the last decade. You, 25 00:01:37,640 --> 00:01:42,360 Speaker 1: unlike your parents, unlike your grandparents and their grandparents, you 26 00:01:43,240 --> 00:01:47,640 Speaker 1: have lived in a unique period in American history. That 27 00:01:47,720 --> 00:01:49,880 Speaker 1: it's not the only period that's been like this, but 28 00:01:50,520 --> 00:01:54,440 Speaker 1: it's been relatively unique for a few generations. You've seen 29 00:01:54,480 --> 00:01:57,560 Speaker 1: your standard of living go down. We here in the 30 00:01:57,640 --> 00:02:01,200 Speaker 1: United States of America have gotten used. It's a really 31 00:02:01,240 --> 00:02:05,120 Speaker 1: wonderful thing. It's a wonderful way to live where everything 32 00:02:05,160 --> 00:02:08,000 Speaker 1: gets better with time. We just go up, up, up, up, 33 00:02:08,040 --> 00:02:10,800 Speaker 1: up up up, and everything kind of gets better. So 34 00:02:11,000 --> 00:02:14,680 Speaker 1: you should be able to afford better things, different things 35 00:02:14,720 --> 00:02:18,600 Speaker 1: than your parents could afford. Now. You've probably either said 36 00:02:18,600 --> 00:02:21,079 Speaker 1: this yourself or you've heard others say it. You look 37 00:02:21,160 --> 00:02:25,040 Speaker 1: around and you wonder, why why don't I own a 38 00:02:25,080 --> 00:02:28,040 Speaker 1: house already? My parents had a house by now, My 39 00:02:28,160 --> 00:02:32,480 Speaker 1: parents had a house, a couple cars. I why why 40 00:02:32,639 --> 00:02:36,920 Speaker 1: is everything so expensive now? Why do things feel financially 41 00:02:37,040 --> 00:02:41,520 Speaker 1: out of reach now? Well, A huge reason things are 42 00:02:41,560 --> 00:02:44,520 Speaker 1: financially out of reach now is the value of the 43 00:02:44,560 --> 00:02:49,640 Speaker 1: dollar has gone down, down, down and down. You have 44 00:02:49,720 --> 00:02:53,120 Speaker 1: less buying power now than your parents did. This is 45 00:02:53,160 --> 00:02:57,840 Speaker 1: a reality. But the important part of that is the why. 46 00:02:59,360 --> 00:03:02,200 Speaker 1: And the why is the part that's difficult to tackle, 47 00:03:03,160 --> 00:03:06,400 Speaker 1: difficult to wrap your arms around, it certainly difficult to 48 00:03:06,440 --> 00:03:11,639 Speaker 1: handle the problem. The why is government spending. The United 49 00:03:11,639 --> 00:03:15,240 Speaker 1: States government has decreased your standard of living. The United 50 00:03:15,240 --> 00:03:18,720 Speaker 1: States government and it's spending has made you poorer. And 51 00:03:19,600 --> 00:03:22,320 Speaker 1: I know I'm a partisan. You're probably a partisan, whether 52 00:03:22,360 --> 00:03:24,960 Speaker 1: you're a commie who hate watches or an anti communist 53 00:03:25,120 --> 00:03:31,280 Speaker 1: like me. Republicans are as guilty as Democrats. We spend 54 00:03:31,840 --> 00:03:35,360 Speaker 1: way too much money. And given the fact that the 55 00:03:35,480 --> 00:03:39,680 Speaker 1: United States government takes in in human amounts of money, 56 00:03:39,920 --> 00:03:42,920 Speaker 1: for them to continue to spend way more than that 57 00:03:43,400 --> 00:03:48,640 Speaker 1: is unbelievably ridiculous, But they do, Republicans and Democrats. Doesn't 58 00:03:48,640 --> 00:03:51,960 Speaker 1: matter whose president, doesn't matter who controls to Congress. It's 59 00:03:52,040 --> 00:03:56,320 Speaker 1: trillion dollar bill after trillion dollar bill, huge deficits after 60 00:03:56,480 --> 00:04:01,080 Speaker 1: huge deficits. And look, it was already bad pre COVID, 61 00:04:01,480 --> 00:04:04,760 Speaker 1: but what happened during COVID really ramped everything up into 62 00:04:05,040 --> 00:04:08,760 Speaker 1: warp speed. Is what it did. We took a bad 63 00:04:09,000 --> 00:04:13,880 Speaker 1: chest cold and we used it to justify spending at 64 00:04:14,000 --> 00:04:17,360 Speaker 1: World War two levels. Do you understand what this country 65 00:04:17,400 --> 00:04:19,960 Speaker 1: did during World War II? Just a brief little rewind 66 00:04:20,000 --> 00:04:23,880 Speaker 1: on this, the United States of America, Because wars are expensive. 67 00:04:23,920 --> 00:04:26,040 Speaker 1: They are now, they were then, and they always have 68 00:04:26,160 --> 00:04:28,560 Speaker 1: been and always will be. It's very, very expensive to 69 00:04:28,720 --> 00:04:32,680 Speaker 1: outfit an army, to prepare your country for war, to 70 00:04:32,720 --> 00:04:36,560 Speaker 1: prosecute awards, unbelievably expensive, buying the bombs and the bullets 71 00:04:36,560 --> 00:04:40,320 Speaker 1: and the medical stuff and paying that. It's just crazy expensive. 72 00:04:41,040 --> 00:04:44,440 Speaker 1: The United States of America during World War Two took 73 00:04:44,520 --> 00:04:50,520 Speaker 1: this gigantic economy and they ramped it up into warp speed, 74 00:04:51,200 --> 00:04:56,960 Speaker 1: mass amounts of spending on wartime economy stuff. Because we 75 00:04:56,960 --> 00:05:01,560 Speaker 1: were bitty busy fighting a war on the entire globe, 76 00:05:02,160 --> 00:05:06,320 Speaker 1: from the shores of Alaska to the Philippines to Germany 77 00:05:06,640 --> 00:05:10,880 Speaker 1: to Africa. The United States of America paid for a 78 00:05:11,080 --> 00:05:15,000 Speaker 1: world war crazy, right, insane levels of spending. Did you 79 00:05:15,040 --> 00:05:20,560 Speaker 1: know right now, because of COVID, we're spending that And 80 00:05:20,680 --> 00:05:24,919 Speaker 1: I warned you back then. I warned you the far 81 00:05:25,040 --> 00:05:28,400 Speaker 1: reaching consequences of what we're doing to try to stop 82 00:05:28,440 --> 00:05:31,200 Speaker 1: the spread of this virus. Maybe they're necessary, maybe they're not. 83 00:05:31,600 --> 00:05:36,279 Speaker 1: But we are talking about massive, massive economic losses coming, 84 00:05:36,279 --> 00:05:39,880 Speaker 1: and that's just that's just the truth. We are going 85 00:05:39,920 --> 00:05:42,279 Speaker 1: to be feeling this for not just you know, the 86 00:05:42,360 --> 00:05:45,240 Speaker 1: coming months, for years. No, we're not going to be 87 00:05:45,320 --> 00:05:48,599 Speaker 1: in lockdown for years, but the economic impact of this 88 00:05:48,800 --> 00:05:55,480 Speaker 1: is going to be it's going to be something. Did 89 00:05:55,520 --> 00:05:59,200 Speaker 1: I call that or what? And this is how it works. 90 00:05:59,240 --> 00:06:05,440 Speaker 1: You see, government creates a problem, Government decides it can 91 00:06:05,560 --> 00:06:08,479 Speaker 1: spend your money, it can spend its way out of 92 00:06:08,480 --> 00:06:12,240 Speaker 1: a problem. And then even once the problem is gone, 93 00:06:13,320 --> 00:06:15,920 Speaker 1: they don't want to stop. You see all this extra 94 00:06:16,040 --> 00:06:18,359 Speaker 1: cheddar laying around. We got more money for him, and 95 00:06:18,400 --> 00:06:20,640 Speaker 1: more money for her, and more money for this district, 96 00:06:20,720 --> 00:06:22,640 Speaker 1: and more money for this state. And I can build 97 00:06:22,640 --> 00:06:24,640 Speaker 1: a new airport, and I can build a new base, 98 00:06:24,720 --> 00:06:27,080 Speaker 1: and I can pay these roads, and I can. You 99 00:06:27,160 --> 00:06:30,119 Speaker 1: gave me access to all this money, all this vast 100 00:06:30,160 --> 00:06:32,560 Speaker 1: amount of money in the American treasury, and now me 101 00:06:33,200 --> 00:06:37,400 Speaker 1: member of the House, Republican and Democrat, me Senator Republican 102 00:06:37,400 --> 00:06:38,120 Speaker 1: and Democrat. 103 00:06:38,279 --> 00:06:38,880 Speaker 2: I want to. 104 00:06:38,839 --> 00:06:41,880 Speaker 1: Take that big pot of taxpayer gold and I want 105 00:06:41,920 --> 00:06:44,600 Speaker 1: to throw it out to the masses and buy myself 106 00:06:44,640 --> 00:06:49,440 Speaker 1: some popularity, and old boy, does it work. It works 107 00:06:49,480 --> 00:06:52,799 Speaker 1: on a dumbed down population that doesn't understand. With every 108 00:06:52,880 --> 00:06:56,279 Speaker 1: trillion dollar bill, your groceries get more expensive. Let me 109 00:06:56,320 --> 00:06:59,760 Speaker 1: say that again, with every trillion dollar bill, your groceries 110 00:06:59,800 --> 00:07:04,120 Speaker 1: get more expensive. One more time. Every trillion dollar bill 111 00:07:04,320 --> 00:07:08,159 Speaker 1: means your groceries get more expensive. Nobody really explained this 112 00:07:08,200 --> 00:07:09,880 Speaker 1: problem better than Milton Friedman did. 113 00:07:11,440 --> 00:07:15,880 Speaker 3: Inflation is made in Washington because only Washington can create money, 114 00:07:16,400 --> 00:07:21,960 Speaker 3: and any other attribution to other groups of inflation is wrong. 115 00:07:23,440 --> 00:07:31,240 Speaker 3: Consumers don't produce it. Producers don't produce it, trade unions 116 00:07:31,280 --> 00:07:35,880 Speaker 3: don't produce it, foreign chieks don't produce it, while imports 117 00:07:35,880 --> 00:07:39,760 Speaker 3: don't produce it. What produces it? It's too much government 118 00:07:39,840 --> 00:07:43,640 Speaker 3: spending and too much government creation of money and nothing else. 119 00:07:47,920 --> 00:07:53,960 Speaker 1: What was true then remains true now. And you see 120 00:07:54,200 --> 00:07:58,640 Speaker 1: this is the problem. Americans don't understand this, and they 121 00:07:58,720 --> 00:08:01,200 Speaker 1: don't understand you see those words on the screen right now. 122 00:08:01,360 --> 00:08:06,400 Speaker 1: They don't understand what's happening inside of the criminal organization 123 00:08:06,640 --> 00:08:11,600 Speaker 1: known as the United States government. Senators, members of the House, 124 00:08:12,280 --> 00:08:14,920 Speaker 1: and the bureaucracy. They're a huge part of this as well. 125 00:08:15,160 --> 00:08:19,800 Speaker 1: And the NGOs that orbit all of these things, they 126 00:08:19,840 --> 00:08:23,240 Speaker 1: are only in this to steal your money. They are 127 00:08:23,320 --> 00:08:26,440 Speaker 1: in this to find out new and inventive ways to 128 00:08:26,520 --> 00:08:31,080 Speaker 1: steal your money. They get to Washington, DC and they 129 00:08:31,120 --> 00:08:34,840 Speaker 1: see this big pot of gold. It's the US Treasury. 130 00:08:34,880 --> 00:08:38,440 Speaker 1: It's your money. It's your money, the money you worked for, 131 00:08:38,600 --> 00:08:41,839 Speaker 1: the money the government steals from you. And when all 132 00:08:41,880 --> 00:08:45,240 Speaker 1: these people look at that big pot of gold, they 133 00:08:45,280 --> 00:08:49,800 Speaker 1: think to themselves, I want some of that. I gotta 134 00:08:49,840 --> 00:08:52,320 Speaker 1: get my hands on some of that. I gotta dip 135 00:08:52,320 --> 00:08:55,920 Speaker 1: my hands in that by myself, some more political capital, 136 00:08:56,040 --> 00:08:58,400 Speaker 1: hands some money out to my cousin at this ngo. 137 00:08:58,800 --> 00:09:01,360 Speaker 1: I gotta get some of that. And So what happens 138 00:09:01,400 --> 00:09:04,240 Speaker 1: every day while you go to work and the government 139 00:09:04,320 --> 00:09:08,120 Speaker 1: steals twenty five percent plus of your income is these 140 00:09:08,200 --> 00:09:11,160 Speaker 1: people go to work and they plot new and inventive 141 00:09:11,200 --> 00:09:15,400 Speaker 1: ways to spend and steal your money. That's why you 142 00:09:15,440 --> 00:09:18,360 Speaker 1: can't afford groceries. That's why you can't afford to remodel 143 00:09:18,400 --> 00:09:21,720 Speaker 1: your house. That's why you're driving run family vacation instead 144 00:09:21,720 --> 00:09:26,200 Speaker 1: of flying now. It's because the Republicans and Democrats in Washington, 145 00:09:26,320 --> 00:09:29,760 Speaker 1: d C. Simply will not stop spending your money. They 146 00:09:29,800 --> 00:09:32,600 Speaker 1: love it. They're like bank robbers who are in the 147 00:09:32,640 --> 00:09:35,800 Speaker 1: bank vault and no cops are coming. It's glorious. And 148 00:09:35,880 --> 00:09:38,440 Speaker 1: Trump and Elon Must, to their credit, are finally talking 149 00:09:38,480 --> 00:09:38,960 Speaker 1: about it. 150 00:09:40,040 --> 00:09:42,360 Speaker 4: Just have a government efficiency commission that takes a look 151 00:09:42,400 --> 00:09:47,280 Speaker 4: at these things and just ensures that the taxpayer money, 152 00:09:48,000 --> 00:09:51,400 Speaker 4: the taxpayers are harder money is spent in a good way. 153 00:09:53,280 --> 00:09:55,679 Speaker 4: And I'd be happy to help out on such a commission. 154 00:09:55,679 --> 00:09:59,559 Speaker 5: I'd well, you, you're the greatest cutter. I mean, I look 155 00:09:59,600 --> 00:10:02,600 Speaker 5: at what you do. You walk in, you want to quit. 156 00:10:03,120 --> 00:10:03,959 Speaker 3: They go on strike. 157 00:10:04,240 --> 00:10:06,000 Speaker 5: I won't mention the name of the company, but they 158 00:10:06,040 --> 00:10:07,120 Speaker 5: go on strike and use it. 159 00:10:07,160 --> 00:10:13,080 Speaker 1: That's okay, you're all gone. So they're working on it. 160 00:10:14,080 --> 00:10:17,600 Speaker 1: And Donald Trump has said publicly multiple times, including during 161 00:10:17,600 --> 00:10:19,440 Speaker 1: his State of the Union, which I know wasn't a 162 00:10:19,480 --> 00:10:22,359 Speaker 1: State of the Union, that we need to make some cuts. 163 00:10:23,760 --> 00:10:27,360 Speaker 5: Just listen to some of the appalling waste. We have 164 00:10:27,480 --> 00:10:33,960 Speaker 5: already identified twenty two billion dollars from HHS to provide 165 00:10:34,080 --> 00:10:39,320 Speaker 5: free housing and cars for illegal aliens, forty five million 166 00:10:39,360 --> 00:10:45,400 Speaker 5: dollars for diversity, equity and inclusion scholarships in Burma. Forty 167 00:10:45,400 --> 00:10:49,160 Speaker 5: million dollars to improve the social and economic inclusion of 168 00:10:49,320 --> 00:10:56,560 Speaker 5: sedentary migrants. Nobody knows what that is. Eight million dollars 169 00:10:56,600 --> 00:11:03,720 Speaker 5: to promote LGBTQI plus in the African nation of Lesuto, 170 00:11:03,840 --> 00:11:08,360 Speaker 5: which nobody has ever heard of. Sixty million dollars for 171 00:11:08,480 --> 00:11:15,400 Speaker 5: indigenous peoples and Afro Colombian empowerment in Central America. Sixty 172 00:11:15,480 --> 00:11:20,199 Speaker 5: million dollars, eight million dollars for making mice transgender. 173 00:11:23,600 --> 00:11:24,280 Speaker 2: This is real. 174 00:11:27,720 --> 00:11:30,120 Speaker 1: I'm glad he pointed it out in front of the 175 00:11:30,160 --> 00:11:33,240 Speaker 1: American people, the absurdity of it. But we have to 176 00:11:33,280 --> 00:11:38,000 Speaker 1: talk about something else because it's that's an easy sell, 177 00:11:38,520 --> 00:11:42,440 Speaker 1: isn't it. Only you're crazy liberal ant Pagya. She's popping 178 00:11:42,480 --> 00:11:46,320 Speaker 1: her anti anxiety megic medication. Only she is supportive of 179 00:11:46,360 --> 00:11:50,280 Speaker 1: those things. She's a very tiny minority. Most American people 180 00:11:50,400 --> 00:11:54,720 Speaker 1: hear about transing mice and they say, ah, probably not necessary. Okay, 181 00:11:57,000 --> 00:12:01,080 Speaker 1: what about the military? Do you do you think there 182 00:12:01,160 --> 00:12:05,880 Speaker 1: should be any cuts there? Trump thinks it should be 183 00:12:05,920 --> 00:12:07,200 Speaker 1: a trillion dollar budget. 184 00:12:08,520 --> 00:12:11,840 Speaker 5: We have great things happening with our military. We also 185 00:12:13,000 --> 00:12:17,400 Speaker 5: essentially approved a budget which is in the facility. You'll 186 00:12:17,480 --> 00:12:19,920 Speaker 5: like to hear this of a trillion dollars one trillion 187 00:12:19,960 --> 00:12:23,480 Speaker 5: dollars and then nobody's seeing anything like it. We have 188 00:12:23,559 --> 00:12:27,000 Speaker 5: to build our military, and we're very coarse conscious, but 189 00:12:27,320 --> 00:12:29,320 Speaker 5: the military is something that we have to build and 190 00:12:29,360 --> 00:12:31,000 Speaker 5: we have to be strong because you got a lot 191 00:12:31,000 --> 00:12:33,480 Speaker 5: of bad forces out there now. So we're going to 192 00:12:33,520 --> 00:12:37,000 Speaker 5: be approving a budget and I'm proud to say, actually 193 00:12:37,080 --> 00:12:43,840 Speaker 5: the biggest one we've ever done for the military. 194 00:12:44,040 --> 00:12:50,000 Speaker 1: The United States military is full of fraud, flat out theft. 195 00:12:51,200 --> 00:12:56,199 Speaker 1: They haven't passed an audit in years. We talk about 196 00:12:56,240 --> 00:12:58,520 Speaker 1: inflation and we need cuts, and we're going to hand 197 00:12:58,520 --> 00:13:02,600 Speaker 1: a completely corrupt military area of trillion dollars. It's not 198 00:13:02,640 --> 00:13:05,920 Speaker 1: like it's just Trump either. Listen to these Listen to 199 00:13:05,960 --> 00:13:10,400 Speaker 1: all these GOP senators talking about spending and cuts and infletion. 200 00:13:11,720 --> 00:13:16,200 Speaker 1: This is Biden's inflation and he needs to own it. 201 00:13:16,320 --> 00:13:20,600 Speaker 6: Due to rampant inflation spurred by reckless government spending and 202 00:13:22,120 --> 00:13:26,600 Speaker 6: consumer prices are escalating at a historic pace. 203 00:13:26,880 --> 00:13:30,560 Speaker 1: Inflation is real. Don't dismiss it. 204 00:13:30,679 --> 00:13:32,239 Speaker 2: This is a natural emergency. 205 00:13:32,360 --> 00:13:34,599 Speaker 5: What I would like to do is get the administration 206 00:13:34,720 --> 00:13:36,760 Speaker 5: to focus on this. Thank you. 207 00:13:37,960 --> 00:13:40,760 Speaker 2: There's an old expression that when you find yourself in 208 00:13:40,800 --> 00:13:42,960 Speaker 2: a hole, quick digging. 209 00:13:43,120 --> 00:13:48,320 Speaker 7: President Biden's inflation is strangling a feat of a free people. 210 00:13:49,360 --> 00:13:51,400 Speaker 7: The American people deserve better. 211 00:13:53,000 --> 00:13:56,880 Speaker 1: We do. How many of those senators are about to 212 00:13:56,960 --> 00:14:00,760 Speaker 1: vote for a massive blowout budget that makes inflation is 213 00:14:00,800 --> 00:14:04,640 Speaker 1: bad or worse? I mean that last guy was Senator Kennedy. 214 00:14:05,679 --> 00:14:08,280 Speaker 1: American people on the right, not on the left. The 215 00:14:08,360 --> 00:14:11,680 Speaker 1: right loves him, absolutely loves him. I have Republican friends 216 00:14:11,679 --> 00:14:14,160 Speaker 1: from Louisiana. They think he's the best. He's got so 217 00:14:14,240 --> 00:14:15,200 Speaker 1: many one liners. 218 00:14:16,679 --> 00:14:19,960 Speaker 7: I can shad her. Congresswoman. Okay, she a cortege to 219 00:14:20,000 --> 00:14:23,360 Speaker 7: be the leader of the Democratic Party. She's entitled to 220 00:14:23,400 --> 00:14:27,320 Speaker 7: her opinion. I'm entitled to mine. As I've said about 221 00:14:27,360 --> 00:14:31,119 Speaker 7: him before, I think she's the region. There are directions 222 00:14:31,120 --> 00:14:37,240 Speaker 7: on a shampoo box. Our plan for dealing you heard 223 00:14:37,280 --> 00:14:39,040 Speaker 7: of that out we got to hurt. Our plan for 224 00:14:39,120 --> 00:14:42,680 Speaker 7: dealing with her is called Operation let her Speak. 225 00:14:44,960 --> 00:14:48,520 Speaker 1: Aha, It's funny, gosh, the one liner it has even 226 00:14:48,560 --> 00:14:51,800 Speaker 1: got the accent. What a straight shooter votes for every 227 00:14:51,800 --> 00:14:55,640 Speaker 1: big spending bill we can get his hands on. Sorry, 228 00:14:56,320 --> 00:14:59,440 Speaker 1: Oh that may have made you uncomfortable, but I am right. 229 00:15:00,080 --> 00:15:01,720 Speaker 1: If you want inflation to go down. We have to 230 00:15:01,720 --> 00:15:05,240 Speaker 1: stop government spending. One liners or not, we have a 231 00:15:05,240 --> 00:15:17,200 Speaker 1: great show for you. Expenses are a nightmare, aren't they? 232 00:15:17,200 --> 00:15:19,760 Speaker 1: The word Isn't it the worst time in the world 233 00:15:19,760 --> 00:15:22,240 Speaker 1: when it's a expends season. I hate it. In my 234 00:15:22,280 --> 00:15:24,960 Speaker 1: own life, my wife will text me, do you e 235 00:15:24,960 --> 00:15:28,000 Speaker 1: a receipt for this? Do you know which category does 236 00:15:28,040 --> 00:15:31,720 Speaker 1: this go with? Were you a? It's awful? How much time, 237 00:15:31,760 --> 00:15:34,120 Speaker 1: how much effort, how many resources do you have to 238 00:15:34,160 --> 00:15:40,320 Speaker 1: sink into? It's a nightmare. The Ramp Corporate Card eliminates 239 00:15:40,320 --> 00:15:43,160 Speaker 1: that nightmare. It does it all for you. It does 240 00:15:43,200 --> 00:15:46,000 Speaker 1: it all for you so you can stop chasing things 241 00:15:46,000 --> 00:15:48,760 Speaker 1: down and now for a limited time, listeners of this 242 00:15:48,800 --> 00:15:51,960 Speaker 1: show get two hundred and fifty dollars when you join RAMP. 243 00:15:52,440 --> 00:15:57,280 Speaker 1: Go to ramp dot com slash jesse. That's ramp dot 244 00:15:57,280 --> 00:16:02,160 Speaker 1: com slash jesse card issued by Sutton Bank Member FDIC. 245 00:16:02,560 --> 00:16:12,960 Speaker 1: Terms and conditions apply. Well, what is the biggest threat 246 00:16:13,040 --> 00:16:16,200 Speaker 1: to the United States of America? Different people have different 247 00:16:16,440 --> 00:16:19,600 Speaker 1: ideas on that. Me personally, if you asked me, I'd 248 00:16:19,640 --> 00:16:22,560 Speaker 1: tell you it's the United States government, namely the FBI, 249 00:16:22,880 --> 00:16:25,720 Speaker 1: but some say China. I can't say they're wrong. I 250 00:16:25,760 --> 00:16:28,120 Speaker 1: wonder what Carol Ross says. Oh, here it is quote 251 00:16:28,200 --> 00:16:30,880 Speaker 1: the biggest threat bar none to US growth has been 252 00:16:31,040 --> 00:16:35,160 Speaker 1: and remains the US government policy and US government spending. 253 00:16:35,600 --> 00:16:39,360 Speaker 1: And it's awfully hard to tell Carol she's wrong about that, 254 00:16:39,640 --> 00:16:42,920 Speaker 1: especially given every look everything we're seeing today. Sorry, I'm 255 00:16:42,920 --> 00:16:45,240 Speaker 1: in a sour mood about all this. Joining me now, 256 00:16:45,600 --> 00:16:48,600 Speaker 1: my friend Carol Roth, author of so many great books, 257 00:16:48,600 --> 00:16:51,640 Speaker 1: including the one You Will Own Nothing, which apparently you 258 00:16:51,760 --> 00:16:54,720 Speaker 1: most definitely will at some point in time given this 259 00:16:54,840 --> 00:16:57,920 Speaker 1: level of government spending. Hey, Carol, why is US government 260 00:16:57,960 --> 00:16:59,120 Speaker 1: policy bad? 261 00:17:00,160 --> 00:17:01,720 Speaker 8: Well, I'm not going to be the one to put 262 00:17:01,800 --> 00:17:04,399 Speaker 8: you in a better mood, Jesse, so apologies for that 263 00:17:04,560 --> 00:17:08,760 Speaker 8: in advance. But basically, they have racked up so much 264 00:17:08,880 --> 00:17:11,800 Speaker 8: debt as well as deficits that at this point are 265 00:17:11,880 --> 00:17:14,720 Speaker 8: wartime level deficits at a time when we're supposed to 266 00:17:14,720 --> 00:17:18,080 Speaker 8: be having quote unquote growth, that it's put us in 267 00:17:18,160 --> 00:17:22,159 Speaker 8: a really terrible fiscal position. We have a balance sheet 268 00:17:22,320 --> 00:17:25,399 Speaker 8: that looks like that of an emerging market about to 269 00:17:25,440 --> 00:17:28,080 Speaker 8: have a sovereign debt crisis. The only reason it hasn't 270 00:17:28,080 --> 00:17:30,840 Speaker 8: happened so far is that the we're the world reserve currency, 271 00:17:31,440 --> 00:17:34,320 Speaker 8: but certainly many countries are trying to move away from that. 272 00:17:34,880 --> 00:17:37,920 Speaker 8: As I said, we have these crazy deficit levels, and 273 00:17:38,040 --> 00:17:40,840 Speaker 8: at the end of the day, we put ourselves into 274 00:17:40,880 --> 00:17:44,320 Speaker 8: a position where we're now spending more to service the 275 00:17:44,440 --> 00:17:47,640 Speaker 8: interest on our debt than we are for defense spending. 276 00:17:48,040 --> 00:17:51,840 Speaker 8: So it's difficult for us to be a strong country 277 00:17:51,880 --> 00:17:54,040 Speaker 8: and have the cards and make the deals that we 278 00:17:54,119 --> 00:17:58,320 Speaker 8: want to when we have this really terrible fiscal position, 279 00:17:58,920 --> 00:18:02,800 Speaker 8: and it's created lots of issues and choices and trade offs, 280 00:18:03,040 --> 00:18:05,600 Speaker 8: all of which end up in the end screwing the 281 00:18:05,640 --> 00:18:06,640 Speaker 8: American consumer. 282 00:18:08,560 --> 00:18:13,720 Speaker 1: Carol, describe this sovereign debt crisis because as you said, 283 00:18:13,720 --> 00:18:15,879 Speaker 1: we've been able to avoid well, we've been able to 284 00:18:15,960 --> 00:18:18,560 Speaker 1: rack up this amount of debt spend at this level 285 00:18:18,600 --> 00:18:21,680 Speaker 1: because we are the world's reserve currency. When you're trading 286 00:18:21,680 --> 00:18:23,800 Speaker 1: your goods and services, you can always rely on the 287 00:18:23,880 --> 00:18:26,879 Speaker 1: US dollar. Of course, but what does it that crisis 288 00:18:26,920 --> 00:18:29,000 Speaker 1: look like if they decide they're done with all that 289 00:18:29,040 --> 00:18:31,360 Speaker 1: and they're going to go to something like gold. 290 00:18:32,560 --> 00:18:35,840 Speaker 8: Well, I think that the first thing that probably happens 291 00:18:35,920 --> 00:18:39,520 Speaker 8: is we get a dysfunction in the treasury markets where 292 00:18:39,520 --> 00:18:42,720 Speaker 8: everything go crazy and you start to see rates spiking, 293 00:18:43,280 --> 00:18:45,840 Speaker 8: and the most likely thing that's going to happen is 294 00:18:45,880 --> 00:18:49,040 Speaker 8: that the FED and the government aren't going to want 295 00:18:49,080 --> 00:18:52,399 Speaker 8: to go immediately into a crisis, so they're going to 296 00:18:52,440 --> 00:18:54,320 Speaker 8: do what they need to do to stop the bleeding. 297 00:18:54,720 --> 00:18:57,240 Speaker 8: And what does that usually look like, Well, that usually 298 00:18:57,320 --> 00:19:01,320 Speaker 8: looks like something we saw on a tative easing, with 299 00:19:01,359 --> 00:19:04,320 Speaker 8: the FED buying lots of securities, a certain amount of 300 00:19:04,359 --> 00:19:08,840 Speaker 8: securities to keep down interest rates and to help the 301 00:19:08,880 --> 00:19:11,640 Speaker 8: situation out because there are no other buyers for the debt. 302 00:19:12,000 --> 00:19:15,080 Speaker 8: But it could come in a different package. There's something 303 00:19:15,160 --> 00:19:18,240 Speaker 8: called yield curve control, which is kind of the same thing, 304 00:19:18,560 --> 00:19:21,320 Speaker 8: but instead of having a defined program like QUE where 305 00:19:21,359 --> 00:19:23,560 Speaker 8: they say we're going to buy a trillion dollars worth 306 00:19:23,600 --> 00:19:25,879 Speaker 8: of bonds, they say we're going to buy whatever it 307 00:19:25,960 --> 00:19:29,439 Speaker 8: takes in order to keep the yield below a certain amount, 308 00:19:30,400 --> 00:19:34,720 Speaker 8: or something that approximates that under some other special pretty packaging. 309 00:19:35,160 --> 00:19:37,800 Speaker 8: And as we've seen before, what does that do. It 310 00:19:37,920 --> 00:19:41,359 Speaker 8: ends up transferring wealth to the asset holders. It ends 311 00:19:41,440 --> 00:19:45,800 Speaker 8: up creating inflation for the everyday consumer. It drives a 312 00:19:45,920 --> 00:19:50,399 Speaker 8: non merit based inequality, and that continues on until you 313 00:19:50,480 --> 00:19:53,600 Speaker 8: know everybody says, Okay, this is crazy and we need 314 00:19:53,680 --> 00:19:57,080 Speaker 8: to have some other sort of ordering of our financial order. 315 00:19:58,760 --> 00:20:01,600 Speaker 1: Carol. One thing that drives me so insane about this 316 00:20:01,640 --> 00:20:04,120 Speaker 1: whole thing. It makes me want to choke somebody, is 317 00:20:04,280 --> 00:20:07,800 Speaker 1: how obvious and inevitable all this is. It's not at 318 00:20:07,960 --> 00:20:11,760 Speaker 1: left or right, or a conservative or Democrat or their Britany. 319 00:20:12,400 --> 00:20:15,959 Speaker 1: It's simple math. You can't run up these numbers. It's obvious. 320 00:20:16,000 --> 00:20:18,960 Speaker 1: Even the morons in Washington, DC know what you say 321 00:20:19,040 --> 00:20:22,400 Speaker 1: is true. Yet no one wants to stop it, even 322 00:20:22,400 --> 00:20:26,040 Speaker 1: the American voter. Honestly, Yeah, they want to stop transing mice, 323 00:20:26,480 --> 00:20:30,040 Speaker 1: but they don't want to actually make significant government cuts 324 00:20:30,080 --> 00:20:33,040 Speaker 1: to anything, and that's why we are where we are. 325 00:20:34,040 --> 00:20:36,159 Speaker 8: Yeah, Well, the challenge is that they want to do 326 00:20:36,280 --> 00:20:38,760 Speaker 8: it at the macro level that they know we need 327 00:20:38,800 --> 00:20:40,760 Speaker 8: to stop spending. But when it comes down to the 328 00:20:40,840 --> 00:20:45,720 Speaker 8: micro level and it threatens their own specific pet project 329 00:20:45,840 --> 00:20:48,520 Speaker 8: or the dollars that they are getting personally, then it 330 00:20:48,560 --> 00:20:50,960 Speaker 8: becomes personal and it needs to shift. And this is 331 00:20:51,040 --> 00:20:53,560 Speaker 8: just basic human nature, which is why this is, as 332 00:20:53,600 --> 00:20:56,520 Speaker 8: you said, all very predictable. And the larger the government gets, 333 00:20:56,520 --> 00:20:59,320 Speaker 8: the more likely this is to happen. So that's really 334 00:20:59,359 --> 00:21:03,320 Speaker 8: what we're up against. Even with spending cuts, though, Jesse, 335 00:21:03,440 --> 00:21:05,240 Speaker 8: we have to do this in a way that's very 336 00:21:05,280 --> 00:21:08,560 Speaker 8: careful because we have the debt to GDP that we 337 00:21:08,640 --> 00:21:12,240 Speaker 8: do and the deficit to GDP. Part of the issue 338 00:21:12,320 --> 00:21:15,480 Speaker 8: that we have is that we've been taking in very 339 00:21:15,560 --> 00:21:18,520 Speaker 8: large amounts of revenue, and that's been based on government 340 00:21:18,600 --> 00:21:22,600 Speaker 8: spending propping up our GDP and generating some additional revenue 341 00:21:22,600 --> 00:21:26,360 Speaker 8: has been propping up our stock market and generating revenue 342 00:21:26,359 --> 00:21:30,600 Speaker 8: from that. If that stops, if we cut spending too fast, 343 00:21:30,880 --> 00:21:33,399 Speaker 8: as you and I have discussed before, what could end 344 00:21:33,520 --> 00:21:37,440 Speaker 8: up happening is that we get a decrease in revenue 345 00:21:37,560 --> 00:21:40,560 Speaker 8: in these the government quote unquote revenue, the tax revenue, 346 00:21:40,880 --> 00:21:42,960 Speaker 8: and we saw that back in I think it was 347 00:21:43,200 --> 00:21:46,080 Speaker 8: the third quarter of twenty twenty two. If we get 348 00:21:46,119 --> 00:21:49,640 Speaker 8: a recession, if we have prolonged dips in the stock market, 349 00:21:49,920 --> 00:21:52,600 Speaker 8: we're talking it could be a half a trillion dollars, 350 00:21:52,640 --> 00:21:55,560 Speaker 8: a trillion dollars, a trillion and a half dollars or 351 00:21:55,680 --> 00:21:59,400 Speaker 8: more that we're no longer taking in and it really 352 00:21:59,480 --> 00:22:03,159 Speaker 8: ends up floating that deficit. That's what's happened you know 353 00:22:03,240 --> 00:22:05,159 Speaker 8: before when we've seen the stock market go down as 354 00:22:05,200 --> 00:22:08,080 Speaker 8: well as in previous recessions. So you know, you don't 355 00:22:08,080 --> 00:22:09,960 Speaker 8: want to be in a no good deed goes unpunished 356 00:22:09,960 --> 00:22:13,040 Speaker 8: situation either, So they have to be very careful in 357 00:22:13,080 --> 00:22:16,359 Speaker 8: how they phase out that financing at the same time 358 00:22:16,440 --> 00:22:20,159 Speaker 8: finding ways to amplify growth, you know, so that you 359 00:22:20,359 --> 00:22:22,879 Speaker 8: get that kick up in the GDP, because if you 360 00:22:22,920 --> 00:22:25,280 Speaker 8: do it in a way that brings down the GDP, 361 00:22:25,640 --> 00:22:28,520 Speaker 8: then again we end up in this vicious cycle which 362 00:22:28,560 --> 00:22:31,640 Speaker 8: takes us back into that potential for a debt spiral. 363 00:22:33,280 --> 00:22:36,199 Speaker 1: Carol, How does China come into play here? Obviously there 364 00:22:36,200 --> 00:22:38,919 Speaker 1: are going to be a player of some kind because 365 00:22:39,040 --> 00:22:42,880 Speaker 1: globally you can't ignore them. How does China our policy 366 00:22:42,920 --> 00:22:44,800 Speaker 1: with China, How does it affect any of this? 367 00:22:45,800 --> 00:22:49,040 Speaker 8: Oh, it affects all kinds of things, including the fact 368 00:22:49,160 --> 00:22:54,960 Speaker 8: that the Chinese own all kinds of assets, including treasuries, 369 00:22:55,560 --> 00:22:58,359 Speaker 8: the stock market and whatnot. So you know, for the 370 00:22:58,640 --> 00:23:01,480 Speaker 8: amount of leverage that we think we have over China, 371 00:23:01,600 --> 00:23:05,200 Speaker 8: they also have leverage on the other side. And if 372 00:23:05,240 --> 00:23:08,679 Speaker 8: we get into a match with them, because you know, 373 00:23:08,720 --> 00:23:12,000 Speaker 8: they think in hundreds of years and we have a 374 00:23:12,040 --> 00:23:15,000 Speaker 8: new president's you know, every four or eight years, as 375 00:23:15,000 --> 00:23:17,720 Speaker 8: well as a shift of over of Congress every two years. 376 00:23:17,760 --> 00:23:20,119 Speaker 8: So you know, it's very difficult to have a long 377 00:23:20,240 --> 00:23:24,679 Speaker 8: term strategy, and so they're able to wait out you know, 378 00:23:24,840 --> 00:23:27,720 Speaker 8: dips and hips and changes in a different way than 379 00:23:27,760 --> 00:23:30,760 Speaker 8: we are. So I would imagine to the extent that 380 00:23:30,800 --> 00:23:33,959 Speaker 8: we cannot get China to come to the table and 381 00:23:34,040 --> 00:23:38,280 Speaker 8: do something side by side, that that's actually very bad 382 00:23:38,359 --> 00:23:40,920 Speaker 8: for us. And I know we all hate China, and 383 00:23:40,960 --> 00:23:44,320 Speaker 8: we all you know, understand the issues with communism and whatnot, 384 00:23:44,880 --> 00:23:47,280 Speaker 8: but this is the situation that we're in now, and 385 00:23:47,359 --> 00:23:50,520 Speaker 8: to our own benefit, we need to be able to 386 00:23:50,680 --> 00:23:53,240 Speaker 8: find a way to figure out where there's points are 387 00:23:53,280 --> 00:23:55,520 Speaker 8: where we meet in the middle, and be able to 388 00:23:55,560 --> 00:23:59,040 Speaker 8: extract ourselves and build up the capabilities and you know, 389 00:23:59,240 --> 00:24:01,199 Speaker 8: right the our fire financial ship, and do all of 390 00:24:01,240 --> 00:24:05,159 Speaker 8: these things first before we can fully cut them off, 391 00:24:05,880 --> 00:24:07,800 Speaker 8: because otherwise it's going to end up being to our 392 00:24:07,840 --> 00:24:10,280 Speaker 8: own detriment. And as you know I wrote about and 393 00:24:10,320 --> 00:24:13,320 Speaker 8: you will own nothing, it could actually end up in war. 394 00:24:13,840 --> 00:24:17,479 Speaker 8: And when you've had previous massive changes in the global 395 00:24:17,520 --> 00:24:21,560 Speaker 8: financial order before, it's always been preceded by war. So 396 00:24:21,720 --> 00:24:25,840 Speaker 8: this is a very tenuous situation. The Biden administration left 397 00:24:26,040 --> 00:24:28,760 Speaker 8: the Trump administration a mess. They don't have a lot 398 00:24:28,760 --> 00:24:31,440 Speaker 8: of options here, and that's why, you know, we're seeing 399 00:24:31,480 --> 00:24:35,679 Speaker 8: as they're trying to do things that it's been pretty painful. 400 00:24:37,160 --> 00:24:40,680 Speaker 1: When goods stop crossing borders, armies will That's an old saying. 401 00:24:40,720 --> 00:24:42,280 Speaker 1: I don't know who said it, but I'll take credit 402 00:24:42,280 --> 00:24:44,680 Speaker 1: for it. I guess I said it. Joining Well, I'm 403 00:24:44,680 --> 00:24:47,439 Speaker 1: going to let you go now, Carol, goodbye, thank you. 404 00:24:49,359 --> 00:24:55,840 Speaker 1: I'm so sad these can't stop spending, can't stop doing it. 405 00:24:56,840 --> 00:25:00,280 Speaker 1: American people love it. The politicians don't have the gots 406 00:25:00,320 --> 00:25:03,600 Speaker 1: to stop it. Something else whatever. Let's talk about China. 407 00:25:03,680 --> 00:25:07,080 Speaker 1: In fact, forget China. Let's talk about COVID and what 408 00:25:07,119 --> 00:25:17,120 Speaker 1: it did to bring about all this with Jeffrey Tucker. Next, 409 00:25:18,280 --> 00:25:22,960 Speaker 1: I love my cell phoned company. I love patronizing companies 410 00:25:23,000 --> 00:25:27,520 Speaker 1: that are America first. Hiring Americans shouldn't be like a 411 00:25:27,600 --> 00:25:30,240 Speaker 1: secondary issue anymore. And for the longest time, I didn't 412 00:25:30,240 --> 00:25:32,720 Speaker 1: pay attention to that in my youth. I wish I had. 413 00:25:33,160 --> 00:25:37,800 Speaker 1: It matters. It matters companies that focus on hiring Americans, 414 00:25:37,840 --> 00:25:40,960 Speaker 1: creating American jobs, pure Talk. They're on the same five 415 00:25:41,000 --> 00:25:43,040 Speaker 1: G network. So when you have you know the big 416 00:25:43,080 --> 00:25:45,520 Speaker 1: guys ATMT and those guys don't think that you're getting 417 00:25:45,520 --> 00:25:48,560 Speaker 1: better service than I do. Pure talk will let you 418 00:25:48,640 --> 00:25:50,439 Speaker 1: keep your phone or give you a new phone if 419 00:25:50,480 --> 00:25:52,199 Speaker 1: you want it. You keep your phone number or a 420 00:25:52,240 --> 00:25:54,280 Speaker 1: new one. If you're trying to hide from your ex wife. 421 00:25:54,600 --> 00:25:59,120 Speaker 1: Pure talk will save you a fortune for the same 422 00:25:59,160 --> 00:26:02,679 Speaker 1: service that you get to support an American company for 423 00:26:02,800 --> 00:26:08,560 Speaker 1: less money. Why wouldn't you switch? Puretalk dot com slash 424 00:26:08,840 --> 00:26:14,040 Speaker 1: jessetv allows you the freedom to support an American company 425 00:26:14,240 --> 00:26:18,840 Speaker 1: for less money. Pure talk dot com slash jessetv. 426 00:26:25,640 --> 00:26:28,840 Speaker 5: Who are announcing new guidelines for every American to follow 427 00:26:29,240 --> 00:26:32,720 Speaker 5: over the next fifteen days as we combat the virus 428 00:26:32,720 --> 00:26:35,880 Speaker 5: seats in. Every one of us has a critical role 429 00:26:35,960 --> 00:26:39,880 Speaker 5: to play in stopping the spread and transmission of the virus. 430 00:26:39,880 --> 00:26:43,720 Speaker 5: We did this today. This was done by a lot 431 00:26:43,720 --> 00:26:47,720 Speaker 5: of very talented people, some of whom were standing with me. 432 00:26:50,920 --> 00:26:53,560 Speaker 1: I remember that day like it was yesterday. I don't 433 00:26:53,600 --> 00:26:55,480 Speaker 1: know that I've ever I don't know that I've ever 434 00:26:55,520 --> 00:26:58,600 Speaker 1: been that frustrated in my life, but I remember it 435 00:26:58,720 --> 00:27:01,880 Speaker 1: like it was yesterday. Down a twenty trillion dollar economy 436 00:27:01,880 --> 00:27:06,520 Speaker 1: for a virus. Joining me now, Jeffrey A Tucker founder 437 00:27:06,560 --> 00:27:10,680 Speaker 1: and president of the Brownstone Institute. Jeffrey, I understand why 438 00:27:10,720 --> 00:27:14,040 Speaker 1: it's not popular to bring up old things like that, 439 00:27:14,119 --> 00:27:16,520 Speaker 1: even though it was five years ago. But the truth 440 00:27:16,680 --> 00:27:20,439 Speaker 1: is that was the beginning of so much destruction, so 441 00:27:20,560 --> 00:27:23,480 Speaker 1: much inflation, so much that we still feel to this day. 442 00:27:23,560 --> 00:27:27,040 Speaker 1: The very idea that you shut down a country on 443 00:27:27,080 --> 00:27:29,480 Speaker 1: purpose for a virus. It's an idea so insane that 444 00:27:29,480 --> 00:27:31,399 Speaker 1: I can't believe so many people bought it, and everyone 445 00:27:31,440 --> 00:27:32,320 Speaker 1: on the planet bought it. 446 00:27:33,440 --> 00:27:37,320 Speaker 9: We've now published about fifteen, maybe seventeen, maybe twenty books 447 00:27:37,320 --> 00:27:39,080 Speaker 9: in the topic. We have a new one coming out, 448 00:27:39,720 --> 00:27:42,919 Speaker 9: which is a compilation on all of our research. We 449 00:27:42,960 --> 00:27:46,120 Speaker 9: haven't even begun to get to the bottom of exactly 450 00:27:46,160 --> 00:27:49,640 Speaker 9: what happened in those days. I'm obsessed with the topic, myself, 451 00:27:50,720 --> 00:27:53,480 Speaker 9: digging up every bit of information. Trump knows, a lot 452 00:27:53,480 --> 00:27:56,600 Speaker 9: of people know, Navarro knows that there's a lot of 453 00:27:56,640 --> 00:27:59,480 Speaker 9: people who know, but very few people are willing to 454 00:27:59,560 --> 00:28:03,200 Speaker 9: actually speak about it. A lot of what's happening right 455 00:28:03,240 --> 00:28:07,000 Speaker 9: now with the Trump administration traces to those days. They 456 00:28:07,080 --> 00:28:11,080 Speaker 9: just went after the head of the guy named who 457 00:28:11,160 --> 00:28:15,720 Speaker 9: was head of SISA, which is a cyber infrastructure security 458 00:28:16,160 --> 00:28:20,720 Speaker 9: or whatever, cybersecurity infrastructure security agency that was in effect 459 00:28:20,960 --> 00:28:26,120 Speaker 9: the government of twenty twenty. They were in charge of censorship, 460 00:28:26,160 --> 00:28:28,880 Speaker 9: they were in charge of election security, and they were 461 00:28:29,400 --> 00:28:32,159 Speaker 9: the first agency that went out there to divide the 462 00:28:32,200 --> 00:28:37,639 Speaker 9: workforce between essential and unessential. So basically the government, right 463 00:28:38,800 --> 00:28:41,760 Speaker 9: it was a small department within the Department of Homeland Security, 464 00:28:41,960 --> 00:28:47,520 Speaker 9: and they assumed the role of essentially running the country, 465 00:28:47,560 --> 00:28:53,280 Speaker 9: if not the world. And Trump put out an executive 466 00:28:53,440 --> 00:28:58,320 Speaker 9: order basically attacking the guy who was head of the 467 00:28:58,360 --> 00:29:01,360 Speaker 9: agency at the time. So which tells me that Trump 468 00:29:01,400 --> 00:29:04,320 Speaker 9: knows exactly, you know, who is it fault. I'm not 469 00:29:04,320 --> 00:29:06,400 Speaker 9: sure if he knows exactly, but he has an intuition 470 00:29:07,280 --> 00:29:10,280 Speaker 9: that there was profound things going on at that time 471 00:29:10,360 --> 00:29:15,320 Speaker 9: that resulted in his you know, and a comp a 472 00:29:15,520 --> 00:29:20,040 Speaker 9: very compromised election. But the story is much bigger than that, 473 00:29:20,120 --> 00:29:23,080 Speaker 9: as you and I both know, and we're still trying 474 00:29:23,120 --> 00:29:25,280 Speaker 9: to get to the bottom of it. And yes, it 475 00:29:25,320 --> 00:29:29,720 Speaker 9: was contrary to the Constitution, is contrary to all moral intuition, 476 00:29:29,920 --> 00:29:33,920 Speaker 9: is contrary to epidemiology and economics, and all good sense. 477 00:29:33,960 --> 00:29:34,280 Speaker 1: It was. 478 00:29:34,480 --> 00:29:38,760 Speaker 9: It was our first introduction to the meaning and fullness 479 00:29:38,840 --> 00:29:41,320 Speaker 9: of totalitarian government. That's what happened. 480 00:29:42,720 --> 00:29:46,719 Speaker 1: It was. I remember it like yesterday, standing on standing 481 00:29:46,760 --> 00:29:49,840 Speaker 1: on the footprints in the grocery store, taking down the 482 00:29:49,920 --> 00:29:54,560 Speaker 1: outdoor basketball hoops. It was. It was almost as if 483 00:29:54,640 --> 00:29:57,920 Speaker 1: we have a legion of tyrants and power in this 484 00:29:58,080 --> 00:30:01,280 Speaker 1: country and they were way for such a day where 485 00:30:01,320 --> 00:30:04,920 Speaker 1: they could finally take the throne and be the kings 486 00:30:04,960 --> 00:30:06,960 Speaker 1: and queens they wanted to be. That's what it felt like. 487 00:30:07,000 --> 00:30:08,680 Speaker 1: It's what it still feels like when I look back 488 00:30:08,680 --> 00:30:10,160 Speaker 1: on it. I don't know how you can interpret it 489 00:30:10,200 --> 00:30:10,800 Speaker 1: any other way. 490 00:30:10,840 --> 00:30:14,320 Speaker 9: Frankly, it was qusy martial law. We felt at the 491 00:30:14,360 --> 00:30:17,680 Speaker 9: time we were obeying things that weren't actually legislation. We 492 00:30:17,680 --> 00:30:20,560 Speaker 9: were obeying things that weren't actually lost. We didn't know 493 00:30:20,920 --> 00:30:25,120 Speaker 9: who was in charge of anything and what the consequences 494 00:30:25,160 --> 00:30:29,640 Speaker 9: for defiance would be. It was just all vague and strange, 495 00:30:29,920 --> 00:30:32,880 Speaker 9: and our voices were throttled very quickly, right, I mean 496 00:30:32,920 --> 00:30:36,680 Speaker 9: even from middle of March, and certainly by a month later, 497 00:30:37,280 --> 00:30:39,640 Speaker 9: the censorship was full blown. So we felt those of 498 00:30:39,720 --> 00:30:41,960 Speaker 9: us who thought the world was going crazy we felt 499 00:30:42,040 --> 00:30:46,200 Speaker 9: very much alone. A lot of our ideological colleagues in 500 00:30:46,240 --> 00:30:50,040 Speaker 9: the past, if you'd move in those circles, completely abandoned 501 00:30:50,400 --> 00:30:53,600 Speaker 9: the cause. They stayed entirely silent. And it went on 502 00:30:53,640 --> 00:30:56,000 Speaker 9: and on and on, and nobody could really figure out why. 503 00:30:56,080 --> 00:30:59,400 Speaker 9: Then we had this weird Summer twenty twenty thing where 504 00:31:00,520 --> 00:31:04,840 Speaker 9: all the cultural and government prevailing government elite said, Okay, 505 00:31:04,880 --> 00:31:06,960 Speaker 9: now you have to leave your home to go protest 506 00:31:08,280 --> 00:31:10,680 Speaker 9: the murder of George Floyd, you remember that. And so 507 00:31:10,800 --> 00:31:13,000 Speaker 9: suddenly all the young people are out in the streets going, yeah, 508 00:31:13,000 --> 00:31:17,800 Speaker 9: I'm against racism, and then you know, the city is 509 00:31:18,000 --> 00:31:19,800 Speaker 9: a whole city's burned down and that sort of thing. 510 00:31:19,880 --> 00:31:23,080 Speaker 9: And then I don't know, it's like only weeks later 511 00:31:23,320 --> 00:31:26,520 Speaker 9: it was back go back home again. Now that's time 512 00:31:26,560 --> 00:31:30,240 Speaker 9: to hide from the virus again. And this went on 513 00:31:30,320 --> 00:31:33,560 Speaker 9: and on and on, and finally, by October we managed 514 00:31:33,600 --> 00:31:37,280 Speaker 9: to put together this Great Brandon Declaration, which which cut 515 00:31:37,320 --> 00:31:42,000 Speaker 9: through all the censors and caused panic inside NIH and 516 00:31:42,480 --> 00:31:46,440 Speaker 9: many other institutions in Washington. And I couldn't even understand 517 00:31:46,640 --> 00:31:52,720 Speaker 9: entirely why. Looking back now, it's incredibly obvious why the 518 00:31:52,760 --> 00:31:58,120 Speaker 9: Great Brandon Declaration panicked the people in charge because it's 519 00:31:58,160 --> 00:32:01,480 Speaker 9: said very plainly and in accordance with all of history 520 00:32:01,960 --> 00:32:05,760 Speaker 9: that the problem would end with exposure and natural immunity. 521 00:32:06,360 --> 00:32:10,880 Speaker 9: It even added assisted by vaccines, but that was exactly 522 00:32:10,920 --> 00:32:13,240 Speaker 9: the problem. The idea that we could just get through 523 00:32:13,320 --> 00:32:17,040 Speaker 9: this by being a normal society was what panicked the 524 00:32:17,040 --> 00:32:20,520 Speaker 9: elites because this put it. Frankly, it took me like 525 00:32:20,560 --> 00:32:22,880 Speaker 9: two years to realize this. They had a product to sell, 526 00:32:23,000 --> 00:32:27,840 Speaker 9: and that product was a shot, and they were very 527 00:32:27,840 --> 00:32:31,960 Speaker 9: concerned that the great brands and declaration would diminish consumer uptake, 528 00:32:32,080 --> 00:32:34,640 Speaker 9: and that's why they wanted to suppress it. That's why 529 00:32:34,120 --> 00:32:40,120 Speaker 9: they why they censored it. And then when the shot 530 00:32:40,240 --> 00:32:45,040 Speaker 9: was was released after the election, right the election that 531 00:32:45,120 --> 00:32:49,680 Speaker 9: was heavily compromised by mail and ballots that were mandated 532 00:32:50,040 --> 00:32:56,040 Speaker 9: by the CDC back in March and even funded by 533 00:32:56,080 --> 00:32:59,680 Speaker 9: the CDC back in March. So Trump lost because of 534 00:32:59,720 --> 00:33:02,640 Speaker 9: those ail in ballots. Then and only then was the 535 00:33:02,720 --> 00:33:06,120 Speaker 9: vaccine released. It was deliberately laid delayed until after the election, 536 00:33:06,520 --> 00:33:09,880 Speaker 9: but uptake was in fact quite low, as they realized 537 00:33:09,920 --> 00:33:13,400 Speaker 9: by you know, several months later, and that's when the 538 00:33:13,400 --> 00:33:17,880 Speaker 9: mandate started. So millions of people eventually were displaced in 539 00:33:18,000 --> 00:33:25,760 Speaker 9: their jobs, fired, including tenured professors, frontline healthcare workers, anybody 540 00:33:25,760 --> 00:33:29,040 Speaker 9: who didn't accept the shot, pilots, and you know, all 541 00:33:29,040 --> 00:33:32,720 Speaker 9: sorts of things. Anybody who didn't accept the shot was 542 00:33:33,120 --> 00:33:36,280 Speaker 9: was was threatened with their jobs fired, and the whole 543 00:33:36,400 --> 00:33:39,320 Speaker 9: nation went into upheople. But even that didn't work because 544 00:33:39,400 --> 00:33:41,400 Speaker 9: uptake was still lower than they wanted. They were going 545 00:33:41,440 --> 00:33:45,640 Speaker 9: for somebody like nine. So then came the mask mandates. 546 00:33:45,640 --> 00:33:47,800 Speaker 9: It's like, okay, you're not going to get the shot, Well, 547 00:33:47,840 --> 00:33:49,520 Speaker 9: now you have to cover your face. 548 00:33:51,520 --> 00:33:52,080 Speaker 1: Everywhere. 549 00:33:52,320 --> 00:33:56,680 Speaker 9: And even though we all existing research said the masks 550 00:33:57,520 --> 00:34:00,200 Speaker 9: do not stop the spread of a respiratory bar with 551 00:34:00,280 --> 00:34:04,040 Speaker 9: the zoononic reservoir, we knew this, they were useless. But 552 00:34:04,360 --> 00:34:07,040 Speaker 9: suddenly the mask mandates were everywhere, and that went on 553 00:34:07,120 --> 00:34:10,160 Speaker 9: for another six or eight months. During this period, two 554 00:34:11,680 --> 00:34:14,440 Speaker 9: whole cities were shut down. I mean, nobody talks about this. 555 00:34:14,520 --> 00:34:18,799 Speaker 9: Nobody's like it's like this history has just vanished. But 556 00:34:18,920 --> 00:34:23,080 Speaker 9: there were at least five cities that closed all public 557 00:34:23,120 --> 00:34:29,200 Speaker 9: accommodations to the unvaccinated. New York and Boston and New 558 00:34:29,360 --> 00:34:33,319 Speaker 9: Orleans and Seattle and Chicago. Those are the ones we 559 00:34:33,360 --> 00:34:36,200 Speaker 9: know about. They and it was intended to be nationwide. 560 00:34:36,719 --> 00:34:40,960 Speaker 9: There was such outrage about this that they finally had 561 00:34:40,960 --> 00:34:44,120 Speaker 9: to roll these things back. But it seems just incredible 562 00:34:44,120 --> 00:34:48,520 Speaker 9: to think we actually segregated our cities in the United 563 00:34:48,520 --> 00:34:54,399 Speaker 9: States along lines that had a fantastically racially disproportionate impact 564 00:34:55,960 --> 00:35:00,359 Speaker 9: on all these cities, so that the minority population, which 565 00:35:01,280 --> 00:35:05,359 Speaker 9: tended to refuse the vaccine at a greater rate than 566 00:35:05,640 --> 00:35:11,719 Speaker 9: majority populations, were actually not allowed into theaters, libraries, and 567 00:35:12,000 --> 00:35:15,560 Speaker 9: restaurants and bars. So this actually happened in this country. 568 00:35:15,960 --> 00:35:18,440 Speaker 9: So yeah, I want to get to the bottom. 569 00:35:17,360 --> 00:35:21,839 Speaker 1: It's unbelievable. And Jeffrey, I honestly the point of this 570 00:35:22,000 --> 00:35:25,560 Speaker 1: whole special tonight is how the government just started spending 571 00:35:25,680 --> 00:35:29,080 Speaker 1: crazily and haven't stopped the thing, have not cut back 572 00:35:29,160 --> 00:35:32,680 Speaker 1: on a single solitary penny. They got a new injection 573 00:35:32,800 --> 00:35:35,439 Speaker 1: of drugs, and I'm not convinced they ever will. I'm 574 00:35:35,560 --> 00:35:39,560 Speaker 1: convinced we will maintain COVID levels of spending until economic collapse. 575 00:35:41,160 --> 00:35:41,359 Speaker 7: Yeah. 576 00:35:41,360 --> 00:35:43,719 Speaker 9: I just looked at the latest thing just passed by 577 00:35:43,719 --> 00:35:46,239 Speaker 9: the House Republicans. It doesn't really cut a dime, and 578 00:35:46,719 --> 00:35:50,359 Speaker 9: it promises to cut the futures that always has. Our 579 00:35:50,400 --> 00:35:55,319 Speaker 9: friend Thomas Massey voted against it and got attacked for 580 00:35:55,440 --> 00:35:59,280 Speaker 9: doing so. But yeah, they're despite all the efforts of DOZE, 581 00:35:59,560 --> 00:36:03,280 Speaker 9: despite you know, all the promises, they're still not cutting 582 00:36:03,280 --> 00:36:06,720 Speaker 9: the spending. All that was accommodating, all that new spending 583 00:36:06,800 --> 00:36:10,359 Speaker 9: during the COVID period was accommodated by money printing, which 584 00:36:10,480 --> 00:36:17,520 Speaker 9: led to anywhere twenty five percent thirty decline and overall 585 00:36:17,960 --> 00:36:21,560 Speaker 9: purchasing power of the dollar during during the Biden years. 586 00:36:22,960 --> 00:36:26,280 Speaker 9: So yeah, we're so are. Our centate of living has 587 00:36:26,400 --> 00:36:29,480 Speaker 9: has diminished, the government has grown, the powers are not 588 00:36:29,680 --> 00:36:33,080 Speaker 9: really taken away. I mean, Trump's done some things, something 589 00:36:33,160 --> 00:36:36,759 Speaker 9: like a beginning of change, and I thrill every day 590 00:36:36,800 --> 00:36:40,760 Speaker 9: to see the executive orders and and and the changes 591 00:36:40,880 --> 00:36:46,919 Speaker 9: enacted by the redirection of funding away from from from 592 00:36:46,960 --> 00:36:49,719 Speaker 9: the left, you know, and so on. That's quite delightful. 593 00:36:50,200 --> 00:36:53,239 Speaker 9: But we are nowhere near getting to the bottom line 594 00:36:53,280 --> 00:36:55,680 Speaker 9: in terms of the truth of that period of what happened, 595 00:36:55,719 --> 00:36:58,960 Speaker 9: or having any kind of serious discussion about it. I 596 00:36:59,320 --> 00:37:02,920 Speaker 9: do would like to mention very quickly that my friends 597 00:37:03,120 --> 00:37:07,920 Speaker 9: actually took made major efforts to get the DoD to 598 00:37:08,040 --> 00:37:13,680 Speaker 9: confess what was going on at the Military Olympics in 599 00:37:13,719 --> 00:37:20,000 Speaker 9: October in Wuhan and the DoD just yesterday. This would 600 00:37:20,040 --> 00:37:22,759 Speaker 9: have been you know, say, April April eight, April ninth, 601 00:37:23,160 --> 00:37:27,440 Speaker 9: finally came out with a report five months late. But 602 00:37:27,520 --> 00:37:30,040 Speaker 9: they finally came out with the report admitting that yes, 603 00:37:30,239 --> 00:37:36,560 Speaker 9: seven soldiers you know, got sick with COVID nineteen like sentence. 604 00:37:37,239 --> 00:37:41,000 Speaker 9: Get this between October and they dated a very late 605 00:37:41,080 --> 00:37:45,560 Speaker 9: and January twenty twenty. So I mean that the report 606 00:37:45,719 --> 00:37:49,800 Speaker 9: is you know, the very embodiment of the limited hangout, 607 00:37:49,800 --> 00:37:52,879 Speaker 9: if you can imagine. So it raises more questions than 608 00:37:52,920 --> 00:37:54,239 Speaker 9: it answers. 609 00:37:54,840 --> 00:37:58,000 Speaker 1: Of course it does. Jeffrey, you were the best go 610 00:37:58,120 --> 00:38:11,080 Speaker 1: back against her. All right, we're almost done. Yeah. I 611 00:38:11,160 --> 00:38:16,200 Speaker 1: love to sleep. I love it. And there's just something. Look, 612 00:38:16,239 --> 00:38:19,719 Speaker 1: I'm a big I'm a big believer in kind of 613 00:38:20,760 --> 00:38:23,600 Speaker 1: starting out on the right foot, if you will. In 614 00:38:23,960 --> 00:38:26,880 Speaker 1: business meetings. That's why you shake hands, look them in 615 00:38:26,880 --> 00:38:29,359 Speaker 1: the eye. When you're picking up your honey for a day. 616 00:38:29,440 --> 00:38:32,200 Speaker 1: Oh you look pretty not hated. You get the dishes done. 617 00:38:32,880 --> 00:38:35,360 Speaker 1: Setting the tone. I guess I should say when you 618 00:38:35,400 --> 00:38:38,600 Speaker 1: have a good night's sleep, you wake up in the morning, 619 00:38:39,360 --> 00:38:42,560 Speaker 1: it sets the tone for your entire day. If you 620 00:38:42,719 --> 00:38:46,520 Speaker 1: slept great, you know it immediately. When you wake up, 621 00:38:46,680 --> 00:38:49,000 Speaker 1: you can tell how you feel. You're ready. And when 622 00:38:49,040 --> 00:38:52,000 Speaker 1: you didn't sleep, you know you know today's going to 623 00:38:52,080 --> 00:38:55,880 Speaker 1: suck dream powder from Beam will have you sleep in 624 00:38:55,920 --> 00:38:59,239 Speaker 1: like a baby every single night. Did you know that? 625 00:39:00,560 --> 00:39:05,440 Speaker 1: Up to forty percent off at shopbeam dot com slash 626 00:39:05,560 --> 00:39:08,799 Speaker 1: Jesse Kelly. It's a cup of hot chocolate that'll put 627 00:39:08,880 --> 00:39:14,640 Speaker 1: you to sleep. Go now. 628 00:39:17,960 --> 00:39:21,320 Speaker 5: We are restoring the name of a great president, William 629 00:39:21,360 --> 00:39:24,880 Speaker 5: McKinley to Mount McKinley in Alaska. He was the big 630 00:39:25,280 --> 00:39:28,880 Speaker 5: tariff sheriff they used to call him, and made. 631 00:39:28,760 --> 00:39:31,120 Speaker 2: A lot of money. Our country became very rich. And 632 00:39:31,160 --> 00:39:35,520 Speaker 2: when he was assassinated, Teddy Roosevelt became president and he 633 00:39:35,600 --> 00:39:37,840 Speaker 2: spent all of that money that was made from tariff's 634 00:39:37,840 --> 00:39:40,560 Speaker 2: The money was so enormous, and they built the thing 635 00:39:40,680 --> 00:39:41,880 Speaker 2: called the Panama Canoun. 636 00:39:44,320 --> 00:39:48,719 Speaker 1: You don't hear many people reference McKinley killed by an anarchist, 637 00:39:48,719 --> 00:39:50,640 Speaker 1: shot in the stomach, even though he was very fat, 638 00:39:50,680 --> 00:39:53,080 Speaker 1: it ended up killing him. Joining me now, David Keene, 639 00:39:53,200 --> 00:39:57,560 Speaker 1: Editor at large, Washington Times, David, not many people bring 640 00:39:57,640 --> 00:40:00,120 Speaker 1: up McKinley. Shoot, you don't ever hear his name. We 641 00:40:00,160 --> 00:40:03,520 Speaker 1: do hear Teddy Roosevelt's name, But people forget about our 642 00:40:03,560 --> 00:40:05,000 Speaker 1: different economic policies. 643 00:40:05,040 --> 00:40:11,080 Speaker 10: Back then, well back then, prior to actually prior to Wilson, 644 00:40:13,400 --> 00:40:16,960 Speaker 10: the tariffs were used as the major way of raising 645 00:40:17,200 --> 00:40:20,799 Speaker 10: revenues for the government. That changed at the beginning of 646 00:40:20,840 --> 00:40:24,759 Speaker 10: the twentieth century, but there's no question that during that 647 00:40:24,840 --> 00:40:29,279 Speaker 10: period tariffs were, as Trump likes to look at them, 648 00:40:29,320 --> 00:40:32,759 Speaker 10: as a main source of revenue as well as a 649 00:40:32,840 --> 00:40:37,000 Speaker 10: source of protectionism. Remember, back in the eighteenth century, in 650 00:40:37,040 --> 00:40:40,920 Speaker 10: the nineteenth century, the newly formed United States was what 651 00:40:40,960 --> 00:40:45,600 Speaker 10: we could today call it developing country, and oftentimes developing 652 00:40:45,640 --> 00:40:51,839 Speaker 10: countries protect their infant industries with tariff walls as those 653 00:40:51,880 --> 00:40:54,759 Speaker 10: industries develop and mature. And that's what was going on 654 00:40:54,800 --> 00:40:55,440 Speaker 10: at that time. 655 00:40:56,920 --> 00:41:00,480 Speaker 1: Okay, so are we passed phase? 656 00:41:00,520 --> 00:41:00,680 Speaker 7: Now? 657 00:41:00,760 --> 00:41:03,120 Speaker 1: At what point in time does a country move past 658 00:41:03,200 --> 00:41:03,720 Speaker 1: that phase? 659 00:41:05,080 --> 00:41:09,000 Speaker 10: Well, we're certainly past the stage of a developing country, 660 00:41:09,000 --> 00:41:12,200 Speaker 10: although you could argue that much of our industry is 661 00:41:12,239 --> 00:41:16,960 Speaker 10: in decline just for age reasons. Because, for example, one 662 00:41:17,040 --> 00:41:19,560 Speaker 10: of the things the President's been talking about in recent 663 00:41:19,640 --> 00:41:23,840 Speaker 10: days is the problem we have with the maritime trades 664 00:41:23,880 --> 00:41:28,719 Speaker 10: with building and equipping ships, where China stripping outstripping us 665 00:41:28,760 --> 00:41:32,000 Speaker 10: by a thousand ships a year. One of the reasons 666 00:41:32,040 --> 00:41:36,960 Speaker 10: for that from an economic standpoint is that a nation's 667 00:41:37,000 --> 00:41:42,480 Speaker 10: competitives and that depends almost entirely on how new its 668 00:41:42,520 --> 00:41:48,239 Speaker 10: shipbuilding facilities are, so that for example, our shipyards, which 669 00:41:48,920 --> 00:41:51,200 Speaker 10: in many cases are one hundred years old or more, 670 00:41:51,239 --> 00:41:54,520 Speaker 10: are competing against shipyards that are ten or fifteen years old. 671 00:41:55,400 --> 00:41:58,880 Speaker 10: And the technology. Just as an example, we talk about wages, 672 00:41:59,360 --> 00:42:03,719 Speaker 10: but I know when I looked some years ago at 673 00:42:03,800 --> 00:42:06,200 Speaker 10: building a ship in Korea versus building it in the 674 00:42:06,239 --> 00:42:09,319 Speaker 10: United States, the problem was it took three to four 675 00:42:09,360 --> 00:42:12,000 Speaker 10: times as many man hours to build it in the 676 00:42:12,080 --> 00:42:14,239 Speaker 10: United States as it did in Korea because we were 677 00:42:14,320 --> 00:42:17,279 Speaker 10: using antiquated methods and we still are. So many of 678 00:42:17,320 --> 00:42:21,080 Speaker 10: these industries have sort of sat on their laurels, if 679 00:42:21,080 --> 00:42:26,400 Speaker 10: you will, and have not increased or kept up with 680 00:42:26,440 --> 00:42:29,120 Speaker 10: the competitiveness of the rest of the world. So in 681 00:42:29,160 --> 00:42:34,400 Speaker 10: that sense, much of the American manufacturing infrastructure in particular 682 00:42:35,120 --> 00:42:39,680 Speaker 10: is behind the times. So that's true. The other problem 683 00:42:39,800 --> 00:42:45,759 Speaker 10: is that while there have been a general acceptance in 684 00:42:45,800 --> 00:42:48,799 Speaker 10: the course of the twentieth and twenty first century of 685 00:42:48,880 --> 00:42:53,800 Speaker 10: the macro advantages of free trade. There has never really 686 00:42:53,840 --> 00:42:58,040 Speaker 10: been a situation in which free trade exists, so that 687 00:42:58,080 --> 00:43:02,880 Speaker 10: you've got countries imposed tariffs in other countries, while those countries, 688 00:43:03,320 --> 00:43:06,040 Speaker 10: in this case the United States, lets that go on 689 00:43:06,320 --> 00:43:10,200 Speaker 10: and suffers losses as a result of those teriff walls. 690 00:43:10,480 --> 00:43:12,759 Speaker 10: One of the problems that on the trade front that 691 00:43:12,800 --> 00:43:17,200 Speaker 10: the President confronts is that with these tariffs that he suggested, 692 00:43:18,200 --> 00:43:25,520 Speaker 10: in today's world, many of the many of the walls 693 00:43:25,520 --> 00:43:28,920 Speaker 10: that have been put up aren't terriff walls, their regulatory walls, 694 00:43:29,040 --> 00:43:34,239 Speaker 10: their workarounds that other countries have developed. There are things 695 00:43:34,280 --> 00:43:38,040 Speaker 10: that are hard to quantify, but which in fact make 696 00:43:38,120 --> 00:43:42,640 Speaker 10: it impossible or very difficult for Americans to compete in Europe. 697 00:43:42,640 --> 00:43:47,400 Speaker 10: Of course, you've got the agricultural field, where basically Europe 698 00:43:47,480 --> 00:43:52,320 Speaker 10: subsidizes its entire agricultural thing, not through tariffs, but through 699 00:43:52,520 --> 00:43:55,480 Speaker 10: bans on the kinds of products that come from the 700 00:43:55,560 --> 00:44:00,319 Speaker 10: United States. So it's a very difficult thing to achieve 701 00:44:01,160 --> 00:44:05,920 Speaker 10: what politicians used to call free and fair trade, and 702 00:44:05,960 --> 00:44:08,880 Speaker 10: it's fair trade. I think that the president in the 703 00:44:08,920 --> 00:44:12,520 Speaker 10: current administration is seeking, and that's that requires you to 704 00:44:12,560 --> 00:44:16,160 Speaker 10: look at things as they are rather than as you 705 00:44:16,239 --> 00:44:16,759 Speaker 10: might like. 706 00:44:16,760 --> 00:44:21,880 Speaker 1: Them to be. David, thank you so much. I appreciate 707 00:44:21,920 --> 00:44:43,479 Speaker 1: you joining us. All right, I have final thoughts next. Look. 708 00:44:43,560 --> 00:44:46,319 Speaker 1: I know this is difficult to hear, but all we 709 00:44:46,360 --> 00:44:50,440 Speaker 1: can do is recognize the problem and start to tackle 710 00:44:50,600 --> 00:44:54,720 Speaker 1: the problem and look at it. It's like somebody who's 711 00:44:54,800 --> 00:44:57,759 Speaker 1: extremely fat. Maybe that's you. Maybe you're super fat and 712 00:44:57,800 --> 00:45:01,600 Speaker 1: you want to lose the weight. We want it easy, 713 00:45:01,640 --> 00:45:03,800 Speaker 1: don't we Can I just get to get a shot 714 00:45:03,800 --> 00:45:05,960 Speaker 1: of something. Can I just go to the doctor? And 715 00:45:06,440 --> 00:45:11,439 Speaker 1: But the truth is, it's going to involve sacrifices. It's 716 00:45:11,480 --> 00:45:15,560 Speaker 1: going to involve giving up things you want. You want 717 00:45:15,560 --> 00:45:17,760 Speaker 1: to lose the weight. You don't have to give up soda. 718 00:45:18,280 --> 00:45:20,360 Speaker 1: You have to go for a walk on Saturday morning. 719 00:45:20,719 --> 00:45:22,880 Speaker 1: You have to skip a pizza. You're gonna have to. 720 00:45:23,400 --> 00:45:28,160 Speaker 1: It's going to involve denying yourself things you've grown accustomed 721 00:45:28,200 --> 00:45:31,359 Speaker 1: to the United States of America. If we want to 722 00:45:31,480 --> 00:45:35,319 Speaker 1: save our economic system long term, we are going to 723 00:45:35,400 --> 00:45:39,960 Speaker 1: have to make major adjustments to things we've grown accustomed to. 724 00:45:40,360 --> 00:45:42,239 Speaker 1: There's no other way to do it. And all we 725 00:45:42,280 --> 00:45:44,040 Speaker 1: can do. Look, with all these big problems. All we 726 00:45:44,080 --> 00:45:46,879 Speaker 1: can do is start now and start voting that way, 727 00:45:46,960 --> 00:45:50,600 Speaker 1: and start demanding it from our reps. All Right, all right, 728 00:45:51,040 --> 00:45:51,680 Speaker 1: we'll do it again.